Schedule of Investments (unaudited) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Asset-Backed Securities | ||||||||
Unique Pub Finance Co. PLC, Series N, 6.46%, 03/30/32(a) | GBP | 100 | $ | 161,656 | ||||
|
| |||||||
Total Asset-Backed Securities — 0.0% |
| 161,656 | ||||||
|
| |||||||
Shares | ||||||||
Common Stocks | ||||||||
Construction & Engineering — 0.0% | ||||||||
McDermott International Ltd.(b) | 141,483 | 70,741 | ||||||
|
| |||||||
Diversified Financial Services — 0.0% | ||||||||
Kcad Holdings I Ltd.(c) | 1,075,282,733 | 10,753 | ||||||
|
| |||||||
Energy Equipment & Services — 0.0% | ||||||||
Pioneer Energy Services Corp. | 809 | 12,588 | ||||||
|
| |||||||
Metals & Mining — 0.0% | ||||||||
Ameriforge Group, Inc. | 1,664 | 2,498 | ||||||
Preferred Proppants LLC(c) | 14,576 | 945 | ||||||
|
| |||||||
3,443 | ||||||||
Oil, Gas & Consumable Fuels — 0.2% | ||||||||
California Resources Corp.(b) | 2,336 | 95,776 | ||||||
Chesapeake Energy Corp. | 10,267 | 632,345 | ||||||
Extraction Oil & Gas, Inc., (Acquired 03/05/21, Cost: $32,685)(d) | 2,622 | 148,012 | ||||||
SM Energy Co. | 1,580 | 41,680 | ||||||
|
| |||||||
917,813 | ||||||||
Semiconductors & Semiconductor Equipment(b) — 0.0% | ||||||||
Maxeon Solar Technologies Ltd. | 213 | 3,755 | ||||||
SunPower Corp. | 1,707 | 38,715 | ||||||
|
| |||||||
42,470 | ||||||||
Software — 0.0% | ||||||||
Avaya Holdings Corp.(b) | 40 | 792 | ||||||
|
| |||||||
Specialty Retail — 0.0% | ||||||||
NMG Parent LLC | 1,477 | 190,780 | ||||||
|
| |||||||
Total Common Stocks — 0.2% | 1,249,380 | |||||||
|
| |||||||
Par (000) | ||||||||
Corporate Bonds | ||||||||
Aerospace & Defense — 0.6% | ||||||||
Bombardier, Inc.(e) | ||||||||
7.50%, 12/01/24 | USD | 78 | 81,120 | |||||
7.50%, 03/15/25 | 14 | 14,297 | ||||||
7.13%, 06/15/26 | 204 | 214,200 | ||||||
7.88%, 04/15/27 | 17 | 17,624 | ||||||
6.00%, 02/15/28 | 112 | 113,260 | ||||||
F-Brasile SpA/F-Brasile US LLC, Series XR, 7.38%, 08/15/26(e) | 200 | 206,000 | ||||||
Rolls-Royce PLC, 5.75%, 10/15/27(e) | 200 | 221,000 | ||||||
Spirit AeroSystems, Inc., 5.50%, 01/15/25(e) | 58 | 61,335 | ||||||
TransDigm, Inc. | ||||||||
8.00%, 12/15/25(e) | 656 | 699,460 | ||||||
6.25%, 03/15/26(e) | 1,073 | 1,118,602 |
Security | Par (000) | Value | ||||||
Aerospace & Defense (continued) | ||||||||
TransDigm, Inc. (continued) | ||||||||
6.38%, 06/15/26 | USD | 29 | $ | 29,918 | ||||
7.50%, 03/15/27 | 33 | 34,568 | ||||||
4.63%, 01/15/29 | 85 | 84,852 | ||||||
4.88%, 05/01/29 | 96 | 96,179 | ||||||
Triumph Group, Inc., | 245 | 269,500 | ||||||
|
| |||||||
3,261,915 | ||||||||
Airlines — 0.7% | ||||||||
Air Canada, 3.88%, 08/15/26(e) | 134 | 135,213 | ||||||
Air France-KLM, 3.88%, 07/01/26(a) | EUR | 100 | 114,985 | |||||
Allegiant Travel Co., 8.50%, 02/05/24(e) | USD | 1,065 | 1,153,190 | |||||
American Airlines, Inc., 11.75%, 07/15/25(e) | 279 | 345,262 | ||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(e) | ||||||||
5.50%, 04/20/26 | 158 | 165,793 | ||||||
5.75%, 04/20/29 | 302 | 325,484 | ||||||
Delta Air Lines, Inc./SkyMiles IP Ltd., 4.75%, 10/20/28(e) | 265 | 295,475 | ||||||
Deutsche Lufthansa AG, 3.75%, 02/11/28(a) | EUR | 100 | 121,634 | |||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26(e) | USD | 101 | 105,671 | |||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27(e) | 274 | 297,953 | ||||||
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25(e) | 13 | 14,972 | ||||||
United Airlines Pass-Through Trust | ||||||||
Series 2020-1, Class A, 5.88%, 10/15/27 | 263 | 294,759 | ||||||
Series 2020-1, Class B, 4.88%, 07/15/27 | 19 | 19,786 | ||||||
United Airlines, Inc.(e) | ||||||||
4.38%, 04/15/26 | 146 | 149,832 | ||||||
4.63%, 04/15/29 | 133 | 137,449 | ||||||
|
| |||||||
3,677,458 | ||||||||
Auto Components — 0.4% | ||||||||
Clarios Global LP, 6.75%, 05/15/25(e) | 721 | 760,655 | ||||||
Clarios Global LP/Clarios US Finance Co. | ||||||||
4.38%, 05/15/26(a) | EUR | 100 | 119,746 | |||||
6.25%, 05/15/26(e) | USD | 110 | 115,571 | |||||
8.50%, 05/15/27(e) | 611 | 649,951 | ||||||
Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28(e) | 25 | 26,173 | ||||||
Dornoch Debt Merger Sub, Inc., 6.63%, 10/15/29(e)(f) | 36 | 36,000 | ||||||
Goodyear Tire & Rubber Co. | ||||||||
9.50%, 05/31/25 | 65 | 71,337 | ||||||
5.00%, 07/15/29(e) | 42 | 44,572 | ||||||
5.25%, 07/15/31(e) | 103 | 109,695 | ||||||
5.63%, 04/30/33 | 102 | 111,180 | ||||||
Meritor, Inc., 4.50%, 12/15/28(e) | 24 | 24,060 | ||||||
Tenneco, Inc., 7.88%, 01/15/29(e) | 18 | 20,093 | ||||||
Titan International, Inc., 7.00%, 04/30/28(e) | 18 | 18,968 | ||||||
Venture Holdings Co. LLC, 12.00%, 07/01/49(b)(c)(g) | 5,150 | 1 | ||||||
|
| |||||||
2,108,002 | ||||||||
Automobiles — 0.4% | ||||||||
Allison Transmission, Inc.(e) | ||||||||
5.88%, 06/01/29 | 113 | 122,950 | ||||||
3.75%, 01/30/31 | 115 | 111,837 | ||||||
Asbury Automotive Group, Inc. | ||||||||
4.50%, 03/01/28 | 35 | 35,919 |
1
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Automobiles (continued) | ||||||||||||
Asbury Automotive Group, Inc. (continued) |
| |||||||||||
4.75%, 03/01/30 | USD | 73 | $ | 76,194 | ||||||||
Carvana Co.(e) | ||||||||||||
5.50%, 04/15/27 | 92 | 93,904 | ||||||||||
4.88%, 09/01/29 | 72 | 71,301 | ||||||||||
Constellation Automotive Financing PLC, 4.88%, 07/15/27(a) | GBP | 100 | 133,676 | |||||||||
Ford Motor Co. | ||||||||||||
4.35%, 12/08/26 | USD | 9 | 9,585 | |||||||||
4.75%, 01/15/43 | 176 | 184,471 | ||||||||||
5.29%, 12/08/46 | 78 | 86,872 | ||||||||||
Ford Motor Credit Co. LLC | ||||||||||||
3.81%, 01/09/24 | 200 | 206,500 | ||||||||||
4.69%, 06/09/25 | 200 | 214,000 | ||||||||||
5.13%, 06/16/25 | 200 | 217,250 | ||||||||||
4.00%, 11/13/30 | 200 | 208,000 | ||||||||||
Group 1 Automotive, Inc., 4.00%, 08/15/28(e) | 15 | 15,263 | ||||||||||
Ken Garff Automotive LLC, 4.88%, 09/15/28(e) | 39 | 40,073 | ||||||||||
LCM Investments Holdings II LLC, 4.88%, 05/01/29(e) | 93 | 95,425 | ||||||||||
Lithia Motors, Inc., 3.88%, 06/01/29(e) | 42 | 43,594 | ||||||||||
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(e) | 33 | 31,893 | ||||||||||
Penske Automotive Group, Inc. | ||||||||||||
3.50%, 09/01/25 | 62 | 63,782 | ||||||||||
3.75%, 06/15/29 | 22 | 22,124 | ||||||||||
Wabash National Corp., 4.50%, 10/15/28(e)(f) | 70 | 69,912 | ||||||||||
|
| |||||||||||
2,154,525 | ||||||||||||
Banks — 0.1% | ||||||||||||
American Finance Trust, Inc./American Finance Operating Partner LP, 4.50%, 09/30/28(e)(f) | 21 | 21,000 | ||||||||||
Banca Monte dei Paschi di Siena SpA, | EUR | 100 | 118,438 | |||||||||
Banco Espirito Santo SA(b)(g) | ||||||||||||
4.75%, 01/15/22(h) | 200 | 33,592 | ||||||||||
4.00%, 01/21/22 | 100 | 16,796 | ||||||||||
2.63%, 05/08/49(a) | 100 | 16,796 | ||||||||||
Wells Fargo & Co., (5 year CMT + 3.45%), 3.90%(h)(i) | USD | 115 | 118,594 | |||||||||
|
| |||||||||||
325,216 | ||||||||||||
Beverages — 0.4% | ||||||||||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27(e)(j) | 441 | 468,496 | ||||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 4.00%, 09/01/29(e) | 285 | 288,206 | ||||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 5.25%, 08/15/27(e) | 208 | 211,745 | ||||||||||
Ball Corp., 3.13%, 09/15/31 | 131 | 129,373 | ||||||||||
Triton Water Holdings, Inc., 6.25%, 04/01/29(e) | 362 | 367,883 | ||||||||||
Trivium Packaging Finance BV, 8.50%, 08/15/27(e) | 814 | 874,032 | ||||||||||
|
| |||||||||||
2,339,735 | ||||||||||||
Biotechnology — 0.0% | ||||||||||||
Cidron Aida Finco Sarl, 5.00%, 04/01/28(a) | EUR | 100 | 116,688 | |||||||||
Emergent BioSolutions, Inc., 3.88%, 08/15/28(e) | USD | 25 | 24,313 | |||||||||
HCRX Investments Holdco LP, 4.50%, 08/01/29(e) | 42 | 42,210 | ||||||||||
|
| |||||||||||
183,211 | ||||||||||||
Building Materials — 0.2% | ||||||||||||
APi Group DE, Inc., 4.13%, 07/15/29(e) | 42 | 41,154 |
Security | Par (000) | Value | ||||||||||
Building Materials (continued) | ||||||||||||
Cornerstone Building Brands, Inc., 6.13%, 01/15/29(e) | USD | 104 | $ | 110,549 | ||||||||
CP Atlas Buyer, Inc., 7.00%, 12/01/28(e) | 89 | 89,222 | ||||||||||
Forterra Finance LLC/FRTA Finance Corp., 6.50%, 07/15/25(e) | 42 | 44,940 | ||||||||||
Griffon Corp., 5.75%, 03/01/28 | 16 | 16,800 | ||||||||||
Jeld-Wen, Inc.(e) | ||||||||||||
4.63%, 12/15/25 | 32 | 32,491 | ||||||||||
4.88%, 12/15/27 | 10 | 10,420 | ||||||||||
Masonite International Corp.(e) | ||||||||||||
3.50%, 02/15/30 | 69 | 68,482 | ||||||||||
Class C, 5.38%, 02/01/28 | 45 | 47,385 | ||||||||||
New Enterprise Stone & Lime Co., Inc., 9.75%, 07/15/28(e)(f) | 38 | 41,325 | ||||||||||
Patrick Industries, Inc., 4.75%, 05/01/29(e) | 20 | 20,400 | ||||||||||
SRM Escrow Issuer LLC, 6.00%, 11/01/28(e) | 200 | 211,750 | ||||||||||
Standard Industries, Inc.(e) | ||||||||||||
5.00%, 02/15/27 | 34 | 35,063 | ||||||||||
4.38%, 07/15/30 | 85 | 86,700 | ||||||||||
3.38%, 01/15/31 | 101 | 96,122 | ||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(e) | 168 | 176,400 | ||||||||||
Victors Merger Corp., 6.38%, 05/15/29(e) | 51 | 48,833 | ||||||||||
|
| |||||||||||
1,178,036 | ||||||||||||
Building Products(e) — 0.2% | ||||||||||||
BCPE Ulysses Intermediate, Inc., (7.75% Cash or 8.50% PIK), 7.75%, 04/01/27(j) | 18 | 17,865 | ||||||||||
Beacon Roofing Supply, Inc., 4.13%, 05/15/29 | 32 | 31,800 | ||||||||||
Foundation Building Materials, Inc., 6.00%, 03/01/29 | 61 | 59,780 | ||||||||||
GYP Holdings III Corp., 4.63%, 05/01/29 | 76 | 76,855 | ||||||||||
LBM Acquisition LLC, 6.25%, 01/15/29 | 154 | 153,923 | ||||||||||
LSF11 A5 HoldCo LLC, 6.63%, 10/15/29(f) | 36 | 36,000 | ||||||||||
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26 | 93 | 97,650 | ||||||||||
SRS Distribution, Inc. | ||||||||||||
4.63%, 07/01/28 | 139 | 141,808 | ||||||||||
6.13%, 07/01/29 | 111 | 114,330 | ||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28 | 207 | 218,385 | ||||||||||
White Cap Parent LLC, (8.25% PIK), 8.25%, 03/15/26(j) | 67 | 69,177 | ||||||||||
|
| |||||||||||
1,017,573 | ||||||||||||
Capital Markets — 0.3% | ||||||||||||
Aretec Escrow Issuer, Inc., 7.50%, 04/01/29(e) | 36 | 37,080 | ||||||||||
Charles Schwab Corp., Series H, (10 year CMT + 3.08%), 4.00%(h)(i) | 265 | 273,347 | ||||||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29(e) | 68 | 71,145 | ||||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. | ||||||||||||
4.75%, 09/15/24 | 101 | 105,040 | ||||||||||
5.25%, 05/15/27 | 221 | 229,287 | ||||||||||
4.38%, 02/01/29 | 87 | 86,891 | ||||||||||
NFP Corp.(e) | ||||||||||||
4.88%, 08/15/28(f) | 138 | 140,346 | ||||||||||
6.88%, 08/15/28 | 374 | 381,873 | ||||||||||
Owl Rock Technology Finance Corp., 3.75%, 06/17/26(e) | 40 | 42,228 | ||||||||||
RP Escrow Issuer LLC, 5.25%, 12/15/25(e) | 50 | 51,438 | ||||||||||
|
| |||||||||||
1,418,675 |
SCHEDULE OF INVESTMENTS | 2 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Chemicals — 0.4% | ||||||||||||
Ashland LLC, 3.38%, 09/01/31(e) | USD | 112 | $ | 112,980 | ||||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29(e) | 150 | 145,875 | ||||||||||
Chemours Co., 5.75%, 11/15/28(e) | 38 | 39,794 | ||||||||||
Diamond (BC) BV, 4.63%, 10/01/29(e) | 85 | 86,275 | ||||||||||
Element Solutions, Inc., 3.88%, 09/01/28(e) | 402 | 406,020 | ||||||||||
GCP Applied Technologies, Inc., 5.50%, 04/15/26(e) | 134 | 137,015 | ||||||||||
HB Fuller Co., 4.25%, 10/15/28 | 31 | 31,543 | ||||||||||
Herens Holdco Sarl, 4.75%, 05/15/28(e) | 200 | 201,000 | ||||||||||
Herens Midco Sarl, 5.25%, 05/15/29(a) | EUR | 100 | 112,360 | |||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28(e) | USD | 181 | 199,552 | |||||||||
Ingevity Corp., 3.88%, 11/01/28(e) | 23 | 22,943 | ||||||||||
Minerals Technologies, Inc., 5.00%, 07/01/28(e) | 55 | 57,062 | ||||||||||
SCIH Salt Holdings, Inc.(e) | ||||||||||||
4.88%, 05/01/28 | 82 | 82,410 | ||||||||||
6.63%, 05/01/29 | 57 | 54,720 | ||||||||||
Scotts Miracle-Gro Co.(e) | ||||||||||||
4.00%, 04/01/31 | 83 | 82,844 | ||||||||||
4.38%, 02/01/32 | 8 | 8,065 | ||||||||||
WESCO Distribution, Inc.(e) | ||||||||||||
7.13%, 06/15/25 | 49 | 52,289 | ||||||||||
7.25%, 06/15/28 | 146 | 161,695 | ||||||||||
WR Grace Holdings LLC, 5.63%, 08/15/29(e) | 301 | 310,033 | ||||||||||
|
| |||||||||||
2,304,475 | ||||||||||||
Commercial Services & Supplies — 0.2% | ||||||||||||
AMN Healthcare, Inc., 4.00%, 04/15/29(e) | 28 | 28,840 | ||||||||||
APX Group, Inc., 5.75%, 07/15/29(e) | 86 | 84,886 | ||||||||||
ASGN, Inc., 4.63%, 05/15/28(e) | 79 | 81,765 | ||||||||||
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.38%, 03/01/29(e) | 33 | 34,878 | ||||||||||
EC Finance PLC, 3.00%, 10/15/26(a)(f) | EUR | 100 | 116,484 | |||||||||
Fortress Transportation & Infrastructure Investors LLC(e) | ||||||||||||
6.50%, 10/01/25 | USD | 24 | 24,705 | |||||||||
9.75%, 08/01/27 | 17 | 19,252 | ||||||||||
5.50%, 05/01/28 | 98 | 98,659 | ||||||||||
Herc Holdings, Inc., 5.50%, 07/15/27(e) | 106 | 111,218 | ||||||||||
Metis Merger Sub LLC, 6.50%, 05/15/29(e) | 68 | 66,130 | ||||||||||
NESCO Holdings II, Inc., 5.50%, 04/15/29(e) | 77 | 79,864 | ||||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc.(e) | ||||||||||||
3.38%, 08/31/27 | 2 | 1,919 | ||||||||||
6.25%, 01/15/28 | 110 | 113,716 | ||||||||||
Team Health Holdings, Inc., 6.38%, 02/01/25(e) | 103 | 99,537 | ||||||||||
United Rentals North America, Inc., 5.25%, 01/15/30 | 2 | 2,190 | ||||||||||
|
| |||||||||||
964,043 | ||||||||||||
Communications Equipment(e) — 0.2% | ||||||||||||
Avaya, Inc., 6.13%, 09/15/28 | 245 | 257,610 | ||||||||||
CommScope Technologies LLC, 6.00%, 06/15/25 | 94 | 95,175 | ||||||||||
CommScope, Inc. | ||||||||||||
6.00%, 03/01/26 | 24 | 24,920 | ||||||||||
8.25%, 03/01/27 | 12 | 12,561 | ||||||||||
7.13%, 07/01/28 | 110 | 112,252 | ||||||||||
4.75%, 09/01/29 | 161 | 160,799 |
Security | Par (000) | Value | ||||||||||
Communications Equipment (continued) | ||||||||||||
ViaSat, Inc. | ||||||||||||
5.63%, 04/15/27 | USD | 38 | $ | 39,615 | ||||||||
6.50%, 07/15/28 | 150 | 157,983 | ||||||||||
Viavi Solutions, Inc., 3.75%, 10/01/29 | 93 | 93,204 | ||||||||||
|
| |||||||||||
954,119 | ||||||||||||
Construction Materials(e) — 0.1% | ||||||||||||
American Builders & Contractors Supply Co., Inc. | ||||||||||||
4.00%, 01/15/28 | 125 | 127,656 | ||||||||||
3.88%, 11/15/29 | 14 | 13,961 | ||||||||||
BCPE Empire Holdings, Inc., 7.63%, 05/01/27 | 35 | 34,825 | ||||||||||
H&E Equipment Services, Inc., 3.88%, 12/15/28 | 20 | 19,922 | ||||||||||
IAA, Inc., 5.50%, 06/15/27 | 159 | 166,155 | ||||||||||
New Enterprise Stone & Lime Co., Inc., 5.25%, 07/15/28(f) | 26 | 26,292 | ||||||||||
Picasso Finance Sub, Inc., 6.13%, 06/15/25 | 82 | 86,706 | ||||||||||
Williams Scotsman International, Inc., 4.63%, 08/15/28 | 77 | 80,212 | ||||||||||
Winnebago Industries, Inc., 6.25%, 07/15/28 | 45 | 48,375 | ||||||||||
Wolverine Escrow LLC, 9.00%, 11/15/26 | 136 | 125,630 | ||||||||||
|
| |||||||||||
729,734 | ||||||||||||
Consumer Discretionary(e) — 0.4% | ||||||||||||
Carnival Corp. | ||||||||||||
10.50%, 02/01/26 | 224 | 259,885 | ||||||||||
5.75%, 03/01/27 | 230 | 237,762 | ||||||||||
9.88%, 08/01/27 | 92 | 106,178 | ||||||||||
4.00%, 08/01/28 | 317 | 320,170 | ||||||||||
CoreLogic, Inc., 4.50%, 05/01/28 | 113 | 112,294 | ||||||||||
Legends Hospitality Holding Co. LLC/Legends Hospitality Co-Issuer, Inc., 5.00%, 02/01/26 | 52 | 53,300 | ||||||||||
Life Time, Inc. | ||||||||||||
5.75%, 01/15/26 | 80 | 82,800 | ||||||||||
8.00%, 04/15/26 | 57 | 60,420 | ||||||||||
NCL Corp. Ltd. | ||||||||||||
10.25%, 02/01/26 | 37 | 42,458 | ||||||||||
5.88%, 03/15/26 | 88 | 90,200 | ||||||||||
NCL Finance Ltd., 6.13%, 03/15/28 | 85 | 88,187 | ||||||||||
Nielsen Finance LLC/Nielsen Finance Co. | ||||||||||||
5.63%, 10/01/28 | 60 | 62,250 | ||||||||||
5.88%, 10/01/30 | 70 | 73,701 | ||||||||||
4.75%, 07/15/31 | 19 | 18,482 | ||||||||||
Royal Caribbean Cruises Ltd. | ||||||||||||
10.88%, 06/01/23 | 45 | 50,400 | ||||||||||
9.13%, 06/15/23 | 54 | 58,688 | ||||||||||
11.50%, 06/01/25 | 57 | 65,037 | ||||||||||
5.50%, 08/31/26 | 25 | 25,699 | ||||||||||
5.50%, 04/01/28 | 138 | 141,148 | ||||||||||
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29 | 59 | 59,000 | ||||||||||
WASH Multifamily Acquisition, Inc., 5.75%, 04/15/26 | 33 | 34,459 | ||||||||||
|
| |||||||||||
2,042,518 | ||||||||||||
Consumer Finance — 0.5% | ||||||||||||
American Express Co., (5 year CMT + 2.85%), 3.55%(h)(i) | 235 | 239,430 | ||||||||||
HealthEquity, Inc., 4.50%, 10/01/29(e)(f) | 91 | 92,365 | ||||||||||
MoneyGram International, Inc., 5.38%, 08/01/26(e) | 34 | 34,510 |
3
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Consumer Finance (continued) | ||||||||||||
MPH Acquisition Holdings LLC, 5.50%, 09/01/28(e) | USD | 104 | $ | 103,714 | ||||||||
Navient Corp. | ||||||||||||
7.25%, 09/25/23 | 5 | 5,453 | ||||||||||
6.13%, 03/25/24 | 96 | 102,792 | ||||||||||
5.88%, 10/25/24 | 77 | 82,197 | ||||||||||
5.00%, 03/15/27 | 2 | 2,060 | ||||||||||
OneMain Finance Corp. | ||||||||||||
8.88%, 06/01/25 | 27 | 29,295 | ||||||||||
3.50%, 01/15/27 | 97 | 97,044 | ||||||||||
6.63%, 01/15/28 | 8 | 9,200 | ||||||||||
5.38%, 11/15/29 | 7 | 7,587 | ||||||||||
4.00%, 09/15/30 | 10 | 9,950 | ||||||||||
Sabre GLBL, Inc.(e) | ||||||||||||
9.25%, 04/15/25 | 287 | 331,712 | ||||||||||
7.38%, 09/01/25 | 81 | 86,330 | ||||||||||
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26(e) | 109 | 113,769 | ||||||||||
Square, Inc., 3.50%, 06/01/31(e) | 198 | 203,094 | ||||||||||
Verscend Escrow Corp., 9.75%, 08/15/26(e) | 851 | 896,741 | ||||||||||
|
| |||||||||||
2,447,243 | ||||||||||||
Containers & Packaging — 0.0% | ||||||||||||
International Paper Co., 7.30%, 11/15/39 | 5 | 7,692 | ||||||||||
Intertape Polymer Group, Inc., 4.38%, 06/15/29(e) | 43 | 43,714 | ||||||||||
LABL, Inc., 10.50%, 07/15/27(e) | 39 | 42,023 | ||||||||||
Sealed Air Corp., 4.00%, 12/01/27(e) | 23 | 24,493 | ||||||||||
|
| |||||||||||
117,922 | ||||||||||||
Diversified Consumer Services — 0.5% | ||||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp.(e) | ||||||||||||
6.63%, 07/15/26 | 662 | 699,919 | ||||||||||
9.75%, 07/15/27 | 101 | 109,886 | ||||||||||
6.00%, 06/01/29 | 200 | 197,358 | ||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 06/01/28 | 400 | 399,066 | ||||||||||
Ascend Learning LLC, 6.88%, 08/01/25 | 340 | 346,179 | ||||||||||
Brink’s Co., 5.50%, 07/15/25(e) | 15 | 15,675 | ||||||||||
Clarivate Science Holdings Corp.(e) | ||||||||||||
3.88%, 07/01/28 | 126 | 126,000 | ||||||||||
4.88%, 07/01/29 | 163 | 163,318 | ||||||||||
Garda World Security Corp.(e) | ||||||||||||
4.63%, 02/15/27 | 29 | 29,000 | ||||||||||
9.50%, 11/01/27 | 45 | 48,706 | ||||||||||
Rekeep SpA, 7.25%, 02/01/26(a) | EUR | 100 | 124,872 | |||||||||
Service Corp. International, 4.00%, 05/15/31 | USD | 211 | 218,121 | |||||||||
Sotheby’s, 7.38%, 10/15/27(e) | 200 | 211,500 | ||||||||||
|
| |||||||||||
2,689,600 | ||||||||||||
Diversified Financial Services — 0.3% | ||||||||||||
Acuris Finance US, Inc./Acuris Finance SARL, 5.00%, 05/01/28(e) | 200 | 199,000 | ||||||||||
Arrow Global Finance PLC, 5.13%, 09/15/24(a) | GBP | 100 | 134,740 | |||||||||
Central Garden & Pet Co. | ||||||||||||
4.13%, 10/15/30 | USD | 59 | 60,327 | |||||||||
4.13%, 04/30/31(e) | 62 | 62,963 | ||||||||||
Citigroup, Inc., Series W, (5 year CMT + 3.60%), 4.00%(h)(i) | 50 | 51,810 | ||||||||||
Coinbase Global, Inc.(e) | ||||||||||||
3.38%, 10/01/28 | 97 | 93,200 | ||||||||||
3.63%, 10/01/31 | 93 | 88,408 |
Security | Par (000) | Value | ||||||||||
Diversified Financial Services (continued) | ||||||||||||
Garfunkelux Holdco 3 SA, 7.75%, 11/01/25(a) | GBP | 100 | $ | 140,747 | ||||||||
Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24(e)(j) | USD | 25 | 24,264 | |||||||||
Intrum AB, 4.88%, 08/15/25(a) | EUR | 100 | 121,275 | |||||||||
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28(e) | USD | 200 | 202,750 | |||||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.75%, 06/15/29(e) | 44 | 43,690 | ||||||||||
Spectrum Brands, Inc.(e) | ||||||||||||
5.00%, 10/01/29 | 18 | 19,350 | ||||||||||
5.50%, 07/15/30 | 50 | 55,375 | ||||||||||
3.88%, 03/15/31 | 21 | 21,218 | ||||||||||
UBS Group AG, (5 year CMT + 3.31%), 4.38%(e)(h)(i) | 345 | 348,519 | ||||||||||
|
| |||||||||||
1,667,636 | ||||||||||||
Diversified Telecommunication Services — 0.7% | ||||||||||||
Cincinnati Bell, Inc.(e) | ||||||||||||
7.00%, 07/15/24 | 26 | 26,461 | ||||||||||
8.00%, 10/15/25 | 20 | 20,844 | ||||||||||
Consolidated Communications, Inc., 6.50%, 10/01/28(e) | 160 | 173,800 | ||||||||||
Intelsat Jackson Holdings SA, 8.00%, 02/15/24(e) | 155 | 159,069 | ||||||||||
Level 3 Financing, Inc.(e) | ||||||||||||
4.25%, 07/01/28 | 122 | 122,943 | ||||||||||
3.75%, 07/15/29 | 56 | 54,123 | ||||||||||
Lumen Technologies, Inc. | ||||||||||||
5.13%, 12/15/26(e) | 485 | 503,187 | ||||||||||
4.50%, 01/15/29(e) | 157 | 152,130 | ||||||||||
5.38%, 06/15/29(e) | 153 | 156,115 | ||||||||||
Series P, 7.60%, 09/15/39 | 63 | 70,560 | ||||||||||
Series U, 7.65%, 03/15/42 | 55 | 61,600 | ||||||||||
Oi SA, (10.00% Cash or 8.00% Cash + 4.00% PIK), 10.00%, 07/27/25(j) | 7 | 6,554 | ||||||||||
Sprint Capital Corp. | ||||||||||||
6.88%, 11/15/28 | 307 | 392,960 | ||||||||||
8.75%, 03/15/32 | 389 | 581,111 | ||||||||||
Switch Ltd.(e) | ||||||||||||
3.75%, 09/15/28 | 110 | 111,650 | ||||||||||
4.13%, 06/15/29 | 128 | 131,360 | ||||||||||
Telecom Italia Capital SA | ||||||||||||
6.38%, 11/15/33 | 58 | 67,495 | ||||||||||
6.00%, 09/30/34 | 134 | 150,415 | ||||||||||
7.20%, 07/18/36 | 14 | 17,150 | ||||||||||
7.72%, 06/04/38 | 23 | 29,440 | ||||||||||
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 01/15/30(e)(f) | 45 | 44,606 | ||||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 4.75%, 04/15/28(e) | 111 | 113,359 | ||||||||||
Zayo Group Holdings, Inc.(e) | ||||||||||||
4.00%, 03/01/27 | 421 | 418,992 | ||||||||||
6.13%, 03/01/28 | 472 | 478,504 | ||||||||||
|
| |||||||||||
4,044,428 | ||||||||||||
Electric Utilities — 0.2% | ||||||||||||
Edison International, (5 year CMT + 4.70%), 5.38%(h)(i) | 100 | 103,405 | ||||||||||
FirstEnergy Corp. | ||||||||||||
2.65%, 03/01/30 | 53 | 52,735 | ||||||||||
Series B, 4.40%, 07/15/27 | 42 | 46,082 | ||||||||||
Series B, 2.25%, 09/01/30 | 6 | 5,790 | ||||||||||
Series C, 7.38%, 11/15/31 | 14 | 19,125 |
SCHEDULE OF INVESTMENTS | 4 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Electric Utilities (continued) | ||||||||||||
FirstEnergy Corp. (continued) | ||||||||||||
Series C, 5.35%, 07/15/47 | USD | 163 | $ | 198,758 | ||||||||
Series C, 3.40%, 03/01/50 | 176 | 169,199 | ||||||||||
FirstEnergy Transmission LLC(e) | ||||||||||||
5.45%, 07/15/44 | 120 | 152,945 | ||||||||||
4.55%, 04/01/49 | 51 | 59,690 | ||||||||||
PG&E Corp., 5.25%, 07/01/30 | 62 | 63,473 | ||||||||||
Pike Corp., 5.50%, 09/01/28(e) | 130 | 132,476 | ||||||||||
Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc., 11.50%, 11/10/21(c) | 2,375 | — | ||||||||||
|
| |||||||||||
1,003,678 | ||||||||||||
Electrical Equipment — 0.1% | ||||||||||||
Gates Global LLC/Gates Corp., 6.25%, 01/15/26(e) | 291 | 301,912 | ||||||||||
GrafTech Finance, Inc., 4.63%, 12/15/28(e) | 66 | 67,732 | ||||||||||
NM Holdings Co. LLC, Series B, 9.50%, 07/01/05(b)(c)(g) | 5,125 | 1 | ||||||||||
|
| |||||||||||
369,645 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.1% | ||||||||||||
BWX Technologies, Inc.(e) | ||||||||||||
4.13%, 06/30/28 | 81 | 83,126 | ||||||||||
4.13%, 04/15/29 | 56 | 57,330 | ||||||||||
CDW LLC/CDW Finance Corp., 3.25%, 02/15/29 | 98 | 100,450 | ||||||||||
Energizer Holdings, Inc.(e) | ||||||||||||
4.75%, 06/15/28 | 34 | 34,586 | ||||||||||
4.38%, 03/31/29 | 6 | 5,955 | ||||||||||
Imola Merger Corp., 4.75%, 05/15/29(e) | 196 | 202,766 | ||||||||||
Xerox Corp., 4.80%, 03/01/35 | 181 | 181,036 | ||||||||||
|
| |||||||||||
665,249 | ||||||||||||
Energy Equipment & Services — 0.2% | ||||||||||||
Archrock Partners LP/Archrock Partners Finance Corp.(e) | ||||||||||||
6.88%, 04/01/27 | 106 | 111,300 | ||||||||||
6.25%, 04/01/28 | 166 | 171,681 | ||||||||||
Pioneer Energy Services Corp.(c)(e)(j) | ||||||||||||
(11.00% Cash or 11.00% PIK), 11.00%, 05/15/25 | 317 | 351,449 | ||||||||||
(5.00% PIK), 5.00%, 11/15/25 | 237 | 276,686 | ||||||||||
USA Compression Partners LP/USA Compression Finance Corp. | ||||||||||||
6.88%, 04/01/26 | 58 | 60,390 | ||||||||||
6.88%, 09/01/27 | 291 | 308,052 | ||||||||||
Vallourec SA, 8.50%, 06/30/26(a) | EUR | 8 | 9,486 | |||||||||
|
| |||||||||||
1,289,044 | ||||||||||||
Entertainment — 0.0% | ||||||||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/29(e)(f) | USD | 72 | 70,150 | |||||||||
|
| |||||||||||
Environmental, Maintenance, & Security Service — 0.1% | ||||||||||||
Covanta Holding Corp., 5.00%, 09/01/30 | 43 | 43,430 | ||||||||||
GFL Environmental, Inc.(e) | ||||||||||||
3.75%, 08/01/25 | 85 | 87,444 | ||||||||||
5.13%, 12/15/26 | 73 | 76,658 | ||||||||||
4.00%, 08/01/28 | 142 | 140,935 | ||||||||||
3.50%, 09/01/28 | 65 | 65,406 | ||||||||||
4.75%, 06/15/29 | 105 | 107,887 | ||||||||||
4.38%, 08/15/29 | 44 | 44,440 | ||||||||||
Stericycle, Inc., 3.88%, 01/15/29(e) | 52 | 52,318 |
Security | Par (000) | Value | ||||||||||
Environmental, Maintenance, & Security Service (continued) | ||||||||||||
Tervita Corp., 11.00%, 12/01/25(e)(k) | USD | 27 | $ | 30,551 | ||||||||
Waste Pro USA, Inc., 5.50%, 02/15/26(e) | 71 | 71,710 | ||||||||||
|
| |||||||||||
720,779 | ||||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.4% | ||||||||||||
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 4.50%, 04/01/27(e) | 57 | 56,430 | ||||||||||
CTR Partnership LP/CareTrust Capital Corp., 3.88%, 06/30/28(e) | 52 | 53,950 | ||||||||||
Diversified Healthcare Trust, 9.75%, 06/15/25 | 53 | 57,969 | ||||||||||
Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27(e) | 46 | 45,675 | ||||||||||
HAT Holdings I LLC/HAT Holdings II LLC, 3.38%, 06/15/26(e) | 62 | 62,930 | ||||||||||
Iron Mountain, Inc.(e) | ||||||||||||
5.25%, 07/15/30 | 91 | 96,572 | ||||||||||
5.63%, 07/15/32 | 66 | 70,785 | ||||||||||
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc. | ||||||||||||
4.63%, 06/15/25(e) | 205 | 220,887 | ||||||||||
4.50%, 09/01/26 | 139 | 151,162 | ||||||||||
4.50%, 01/15/28 | 318 | 347,415 | ||||||||||
3.88%, 02/15/29(e) | 101 | 107,565 | ||||||||||
MPT Operating Partnership LP/MPT Finance Corp. | ||||||||||||
4.63%, 08/01/29 | 296 | 317,608 | ||||||||||
3.50%, 03/15/31 | 222 | 226,440 | ||||||||||
RHP Hotel Properties LP/RHP Finance Corp. | ||||||||||||
4.75%, 10/15/27 | 311 | 321,876 | ||||||||||
4.50%, 02/15/29(e) | 24 | 24,048 | ||||||||||
RLJ Lodging Trust LP(e) | ||||||||||||
3.75%, 07/01/26 | 43 | 43,215 | ||||||||||
4.00%, 09/15/29 | 31 | 30,952 | ||||||||||
Service Properties Trust | ||||||||||||
4.35%, 10/01/24 | 12 | 12,159 | ||||||||||
7.50%, 09/15/25 | 82 | 92,065 | ||||||||||
5.50%, 12/15/27 | 42 | 44,760 | ||||||||||
|
| |||||||||||
2,384,463 | ||||||||||||
Food & Staples Retailing — 0.4% | ||||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(e) | ||||||||||||
3.25%, 03/15/26 | 146 | 148,190 | ||||||||||
4.63%, 01/15/27 | 11 | 11,539 | ||||||||||
4.88%, 02/15/30 | 68 | 73,270 | ||||||||||
Kraft Heinz Foods Co. | ||||||||||||
4.25%, 03/01/31 | 204 | 230,626 | ||||||||||
5.00%, 07/15/35 | 24 | 29,514 | ||||||||||
6.88%, 01/26/39 | 164 | 242,119 | ||||||||||
4.63%, 10/01/39 | 88 | 102,562 | ||||||||||
6.50%, 02/09/40 | 35 | 49,700 | ||||||||||
5.20%, 07/15/45 | 101 | 126,507 | ||||||||||
4.38%, 06/01/46 | 227 | 258,285 | ||||||||||
4.88%, 10/01/49 | 170 | 206,906 | ||||||||||
5.50%, 06/01/50 | 372 | 490,806 | ||||||||||
Lamb Weston Holdings, Inc., 4.88%, 05/15/28(e) | 18 | 19,787 | ||||||||||
Performance Food Group, Inc., 4.25%, 08/01/29(e) | 108 | 108,270 | ||||||||||
Post Holdings, Inc.(e) | ||||||||||||
4.63%, 04/15/30 | 45 | 45,348 | ||||||||||
4.50%, 09/15/31 | 81 | 80,039 |
5
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Food & Staples Retailing (continued) | ||||||||||||
TreeHouse Foods, Inc., 4.00%, 09/01/28 | USD | 23 | $ | 22,509 | ||||||||
United Natural Foods, Inc., 6.75%, 10/15/28(e) | 28 | 30,310 | ||||||||||
US Foods, Inc., 4.75%, 02/15/29(e) | 118 | 121,098 | ||||||||||
|
| |||||||||||
2,397,385 | ||||||||||||
Food Products(e) — 0.2% | ||||||||||||
Aramark Services, Inc. | ||||||||||||
6.38%, 05/01/25 | 99 | 104,074 | ||||||||||
5.00%, 02/01/28 | 3 | 3,083 | ||||||||||
Chobani LLC/Chobani Finance Corp., Inc. | ||||||||||||
7.50%, 04/15/25 | 272 | 283,016 | ||||||||||
4.63%, 11/15/28 | 76 | 78,470 | ||||||||||
JBS USA LUX SA/JBS USA Finance, Inc., 6.75%, 02/15/28 | 90 | 97,358 | ||||||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. | ||||||||||||
6.50%, 04/15/29 | 138 | 154,215 | ||||||||||
3.75%, 12/01/31 | 113 | 117,580 | ||||||||||
Pilgrim’s Pride Corp., 3.50%, 03/01/32 | 165 | 167,784 | ||||||||||
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%, 03/01/29 | 113 | 113,847 | ||||||||||
|
| |||||||||||
1,119,427 | ||||||||||||
Gas Utilities — 0.0% | ||||||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31(e) | 42 | 43,575 | ||||||||||
|
| |||||||||||
Health Care Equipment & Supplies(e) — 0.1% | ||||||||||||
Avantor Funding, Inc., 4.63%, 07/15/28 | 318 | 334,695 | ||||||||||
Hologic, Inc., 3.25%, 02/15/29 | 28 | 28,013 | ||||||||||
Ortho-Clinical Diagnostics, Inc./Ortho-Clinical Diagnostics SA | ||||||||||||
7.38%, 06/01/25 | 171 | 180,405 | ||||||||||
7.25%, 02/01/28 | 134 | 143,397 | ||||||||||
|
| |||||||||||
686,510 | ||||||||||||
Health Care Providers & Services — 1.0% | ||||||||||||
Acadia Healthcare Co., Inc.(e) | ||||||||||||
5.50%, 07/01/28 | 66 | 69,379 | ||||||||||
5.00%, 04/15/29 | 44 | 45,815 | ||||||||||
AdaptHealth LLC(e) | ||||||||||||
6.13%, 08/01/28 | 49 | 52,063 | ||||||||||
4.63%, 08/01/29 | 55 | 54,959 | ||||||||||
5.13%, 03/01/30 | 33 | 33,017 | ||||||||||
AHP Health Partners, Inc., 5.75%, 07/15/29(e) | 90 | 90,900 | ||||||||||
Akumin Escrow, Inc., 7.50%, 08/01/28(e) | 19 | 18,383 | ||||||||||
Cano Health LLC, 6.25%, 10/01/28(e) | 29 | 29,290 | ||||||||||
Centene Corp. | ||||||||||||
4.25%, 12/15/27 | 59 | 61,752 | ||||||||||
2.45%, 07/15/28 | 198 | 198,990 | ||||||||||
4.63%, 12/15/29 | 141 | 153,662 | ||||||||||
3.00%, 10/15/30 | 367 | 376,175 | ||||||||||
2.50%, 03/01/31 | 400 | 394,500 | ||||||||||
2.63%, 08/01/31 | 135 | 134,087 | ||||||||||
CHS/Community Health Systems, | ||||||||||||
6.63%, 02/15/25 | 379 | 396,529 | ||||||||||
8.00%, 03/15/26 | 419 | 444,339 | ||||||||||
5.63%, 03/15/27 | 173 | 181,153 | ||||||||||
6.00%, 01/15/29 | 136 | 144,160 | ||||||||||
6.88%, 04/15/29 | 34 | 34,080 | ||||||||||
6.13%, 04/01/30 | 91 | 88,427 |
Security | Par (000) | Value | ||||||||||
Health Care Providers & Services (continued) | ||||||||||||
DaVita, Inc., 4.63%, 06/01/30(e) | USD | 3 | $ | 3,086 | ||||||||
Encompass Health Corp. | ||||||||||||
4.50%, 02/01/28 | 16 | 16,520 | ||||||||||
4.75%, 02/01/30 | 123 | 129,365 | ||||||||||
4.63%, 04/01/31 | 66 | 69,369 | ||||||||||
HCA, Inc., 3.50%, 09/01/30 | 382 | 404,687 | ||||||||||
Legacy LifePoint Health LLC(e) | ||||||||||||
6.75%, 04/15/25 | 116 | 121,899 | ||||||||||
4.38%, 02/15/27 | 44 | 43,890 | ||||||||||
LifePoint Health, Inc., 5.38%, 01/15/29(e) | 97 | 94,333 | ||||||||||
ModivCare Escrow Issuer, Inc., 5.00%, 10/01/29(e) | 53 | 54,937 | ||||||||||
ModivCare, Inc., 5.88%, 11/15/25(e) | 23 | 24,323 | ||||||||||
Molina Healthcare, Inc.(e) | ||||||||||||
4.38%, 06/15/28 | 22 | 22,888 | ||||||||||
3.88%, 11/15/30 | 96 | 100,320 | ||||||||||
Prime Healthcare Services, Inc., 7.25%, 11/01/25(e) | 152 | 163,020 | ||||||||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/01/26(e) | 17 | 17,956 | ||||||||||
Surgery Center Holdings, Inc.(e) |
| |||||||||||
6.75%, 07/01/25 | 145 | 147,538 | ||||||||||
10.00%, 04/15/27 | 276 | 298,080 | ||||||||||
Teleflex, Inc., 4.25%, 06/01/28(e) | 42 | 43,642 | ||||||||||
Tenet Healthcare Corp.(e) | ||||||||||||
7.50%, 04/01/25 | 41 | 43,511 | ||||||||||
4.88%, 01/01/26 | 209 | 216,298 | ||||||||||
5.13%, 11/01/27 | 343 | 357,577 | ||||||||||
4.63%, 06/15/28 | 26 | 26,940 | ||||||||||
6.13%, 10/01/28 | 123 | 129,208 | ||||||||||
4.25%, 06/01/29 | 95 | 96,425 | ||||||||||
|
| |||||||||||
5,627,472 | ||||||||||||
Health Care Technology(e) — 0.2% | ||||||||||||
Catalent Pharma Solutions, Inc. | ||||||||||||
5.00%, 07/15/27 | 41 | 42,589 | ||||||||||
3.13%, 02/15/29 | 58 | 56,953 | ||||||||||
3.50%, 04/01/30 | 148 | 148,000 | ||||||||||
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.75%, 03/01/25 | 229 | 230,717 | ||||||||||
Charles River Laboratories International, Inc. | ||||||||||||
4.25%, 05/01/28 | 46 | 47,741 | ||||||||||
3.75%, 03/15/29 | 11 | 11,234 | ||||||||||
4.00%, 03/15/31 | 31 | 32,480 | ||||||||||
MEDNAX, Inc., 6.25%, 01/15/27 | 32 | 33,640 | ||||||||||
Syneos Health, Inc., 3.63%, 01/15/29 | 147 | 146,588 | ||||||||||
US Acute Care Solutions LLC, 6.38%, 03/01/26 | 37 | 39,035 | ||||||||||
|
| |||||||||||
788,977 | ||||||||||||
Healthcare — 0.0% | ||||||||||||
Akumin, Inc., 7.00%, 11/01/25(e) | 35 | 33,950 | ||||||||||
|
| |||||||||||
Hotels, Restaurants & Leisure — 0.9% | ||||||||||||
1011778 BC ULC/New Red Finance, Inc.(e) | ||||||||||||
3.88%, 01/15/28 | 60 | 60,591 | ||||||||||
4.38%, 01/15/28 | 218 | 221,316 | ||||||||||
Affinity Gaming, 6.88%, 12/15/27(e) | 49 | 51,535 | ||||||||||
Boyd Gaming Corp. | ||||||||||||
8.63%, 06/01/25(e) | 79 | 85,616 | ||||||||||
4.75%, 12/01/27 | 58 | 59,780 | ||||||||||
4.75%, 06/15/31(e) | 121 | 124,781 | ||||||||||
Boyne USA, Inc., 4.75%, 05/15/29(e) | 78 | 80,535 |
SCHEDULE OF INVESTMENTS | 6 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Hotels, Restaurants & Leisure (continued) |
| |||||||||||
Caesars Entertainment, Inc.(e) |
| |||||||||||
6.25%, 07/01/25 | USD | 481 | $ | 506,376 | ||||||||
8.13%, 07/01/27 | 340 | 382,236 | ||||||||||
4.63%, 10/15/29 | 124 | 125,550 | ||||||||||
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25(e) | 154 | 162,351 | ||||||||||
Carrols Restaurant Group, Inc., 5.88%, 07/01/29(e) | 20 | 18,825 | ||||||||||
CCM Merger, Inc., 6.38%, 05/01/26(e) | 53 | 55,783 | ||||||||||
Cedar Fair LP/Canada’s Wonderland Co. /Magnum Management Corp./Millennium Op, 6.50%, 10/01/28 | 19 | 20,384 | ||||||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25(e) | 388 | 403,035 | ||||||||||
Churchill Downs, Inc., 4.75%, 01/15/28(e) | 80 | 83,700 | ||||||||||
Everi Holdings, Inc., 5.00%, 07/15/29(e) | 17 | 17,420 | ||||||||||
Full House Resorts, Inc., 8.25%, 02/15/28(e) | 20 | 21,500 | ||||||||||
Golden Nugget, Inc., 6.75%, 10/15/24(e) | 455 | 455,591 | ||||||||||
Hilton Domestic Operating Co., Inc. | ||||||||||||
5.75%, 05/01/28(e) | 108 | 116,316 | ||||||||||
4.88%, 01/15/30 | 166 | 178,078 | ||||||||||
4.00%, 05/01/31(e) | 73 | 74,095 | ||||||||||
MGM Resorts International, 5.75%, 06/15/25 | 73 | 79,570 | ||||||||||
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29(e) | 83 | 84,556 | ||||||||||
Peninsula Pacific Entertainment LLC/Peninsula Pacific Entertainment Finance, Inc., 8.50%, 11/15/27(e) | 79 | 84,826 | ||||||||||
Penn National Gaming, Inc., 4.13%, 07/01/29(e) | 30 | 29,652 | ||||||||||
Powdr Corp., 6.00%, 08/01/25(e)(k) | 67 | 70,350 | ||||||||||
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.(e) | ||||||||||||
5.63%, 09/01/29 | 37 | 37,370 | ||||||||||
5.88%, 09/01/31 | 37 | 37,381 | ||||||||||
Raptor Acquisition Corp./Raptor Co-Issuer LLC, 4.88%, 11/01/26(e) | 57 | 58,211 | ||||||||||
Scientific Games International, Inc.(e) | ||||||||||||
8.63%, 07/01/25 | 65 | 70,391 | ||||||||||
8.25%, 03/15/26 | 301 | 319,436 | ||||||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/25(e) | 275 | 292,875 | ||||||||||
Travel + Leisure Co., 6.63%, 07/31/26(e) | 43 | 48,967 | ||||||||||
Vail Resorts, Inc., 6.25%, 05/15/25(e) | 89 | 94,118 | ||||||||||
Wyndham Hotels & Resorts, Inc., 4.38%, 08/15/28(e) | 44 | 45,933 | ||||||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.13%, 10/01/29(e) | 202 | 203,515 | ||||||||||
Yum! Brands, Inc. | ||||||||||||
4.75%, 01/15/30(e) | 24 | 26,012 | ||||||||||
5.35%, 11/01/43 | 14 | 15,400 | ||||||||||
|
| |||||||||||
4,903,957 | ||||||||||||
Household Durables — 0.2% | ||||||||||||
Ashton Woods USA LLC/Ashton Woods Finance Co.(e) | ||||||||||||
4.63%, 08/01/29 | 32 | 32,311 | ||||||||||
4.63%, 04/01/30 | 32 | 32,180 | ||||||||||
Brookfield Residential Properties, Inc./Brookfield Residential US LLC(e) | ||||||||||||
5.00%, 06/15/29 | 67 | 68,511 | ||||||||||
4.88%, 02/15/30 | 260 | 265,200 |
Security | Par (000) | Value | ||||||||||
Household Durables (continued) | ||||||||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25(e) | USD | 104 | $ | 110,029 | ||||||||
Forestar Group, Inc., 3.85%, 05/15/26(e) | 33 | 32,959 | ||||||||||
K Hovnanian Enterprises, Inc., 10.00%, 11/15/25(e) |
| 20 | 21,300 | |||||||||
KB Home, 4.00%, 06/15/31 | 31 | 31,814 | ||||||||||
Mattamy Group Corp., 4.63%, 03/01/30(e) | 72 | 73,574 | ||||||||||
NCR Corp.(e) | ||||||||||||
5.75%, 09/01/27 | 20 | 21,092 | ||||||||||
5.00%, 10/01/28 | 57 | 58,243 | ||||||||||
5.13%, 04/15/29 | 33 | 34,031 | ||||||||||
6.13%, 09/01/29 | 78 | 84,630 | ||||||||||
5.25%, 10/01/30 | 36 | 37,747 | ||||||||||
New Home Co., Inc., 7.25%, 10/15/25(e) | 22 | 23,150 | ||||||||||
Newell Brands, Inc., 6.00%, 04/01/46 | 35 | 45,238 | ||||||||||
Taylor Morrison Communities, Inc., 5.13%, 08/01/30(e) | 20 | 21,525 | ||||||||||
Tempur Sealy International, Inc.(e) | ||||||||||||
4.00%, 04/15/29 | 87 | 89,610 | ||||||||||
3.88%, 10/15/31 | 88 | 88,110 | ||||||||||
Tri Pointe Homes, Inc., 5.70%, 06/15/28 | 18 | 19,575 | ||||||||||
|
| |||||||||||
1,190,829 | ||||||||||||
Independent Power and Renewable Electricity Producers(e) — 0.2% | ||||||||||||
Calpine Corp. | ||||||||||||
5.25%, 06/01/26 | 57 | 58,638 | ||||||||||
5.13%, 03/15/28 | 458 | 463,832 | ||||||||||
4.63%, 02/01/29 | 33 | 32,505 | ||||||||||
5.00%, 02/01/31 | 45 | 45,000 | ||||||||||
3.75%, 03/01/31 | 4 | 3,850 | ||||||||||
Clearway Energy Operating LLC | ||||||||||||
4.75%, 03/15/28 | 20 | 21,172 | ||||||||||
3.75%, 01/15/32(f) | 82 | 81,897 | ||||||||||
NRG Energy, Inc. | ||||||||||||
3.63%, 02/15/31 | 96 | 94,296 | ||||||||||
3.88%, 02/15/32 | 113 | 111,729 | ||||||||||
TerraForm Power Operating LLC, 4.75%, 01/15/30 |
| 74 | 77,423 | |||||||||
|
| |||||||||||
990,342 | ||||||||||||
Insurance(e) — 0.4% | ||||||||||||
Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29 | 74 | 73,061 | ||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer | ||||||||||||
4.25%, 10/15/27 | 371 | 374,710 | ||||||||||
6.75%, 10/15/27 | 731 | 756,585 | ||||||||||
AmWINS Group, Inc., 4.88%, 06/30/29 | 85 | 86,195 | ||||||||||
AssuredPartners, Inc., 5.63%, 01/15/29 | 86 | 86,533 | ||||||||||
BroadStreet Partners, Inc., 5.88%, 04/15/29 | 61 | 60,771 | ||||||||||
GTCR AP Finance, Inc., 8.00%, 05/15/27 | 6 | 6,330 | ||||||||||
HUB International Ltd., 7.00%, 05/01/26 | 416 | 430,040 | ||||||||||
|
| |||||||||||
1,874,225 | ||||||||||||
Interactive Media & Services — 0.1% | ||||||||||||
Arches Buyer, Inc., 4.25%, 06/01/28(e) | 36 | 36,500 | ||||||||||
Netflix, Inc. | ||||||||||||
4.88%, 04/15/28 | 112 | 129,080 | ||||||||||
5.88%, 11/15/28 | 14 | 17,156 | ||||||||||
6.38%, 05/15/29 | 11 | 13,915 | ||||||||||
5.38%, 11/15/29(e) | 11 | 13,324 | ||||||||||
4.88%, 06/15/30(e) | 115 | 135,412 | ||||||||||
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.(e) | ||||||||||||
4.75%, 04/30/27(f) | 74 | 74,000 |
7
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Interactive Media & Services (continued) | ||||||||||||
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.(e) (continued) | ||||||||||||
6.00%, 02/15/28 | USD | 80 | $ | 79,574 | ||||||||
10.75%, 06/01/28 | 30 | 33,750 | ||||||||||
Twitter, Inc., 3.88%, 12/15/27(e) | 97 | 103,548 | ||||||||||
|
| |||||||||||
636,259 | ||||||||||||
Internet Software & Services(e) — 0.3% | ||||||||||||
ANGI Group LLC, 3.88%, 08/15/28 | 106 | 105,470 | ||||||||||
Endure Digital, Inc., 6.00%, 02/15/29 | 45 | 42,750 | ||||||||||
Go Daddy Operating Co. LLC/GD Finance Co., Inc., 3.50%, 03/01/29 | 40 | 39,650 | ||||||||||
Match Group Holdings II LLC | ||||||||||||
4.63%, 06/01/28 | 43 | 44,955 | ||||||||||
4.13%, 08/01/30 | 68 | 70,805 | ||||||||||
3.63%, 10/01/31(f) | 35 | 34,585 | ||||||||||
Uber Technologies, Inc. | ||||||||||||
7.50%, 05/15/25 | 271 | 288,886 | ||||||||||
8.00%, 11/01/26 | 92 | 97,233 | ||||||||||
7.50%, 09/15/27 | 188 | 205,272 | ||||||||||
6.25%, 01/15/28 | 314 | 336,762 | ||||||||||
4.50%, 08/15/29 | 149 | 150,024 | ||||||||||
|
| |||||||||||
1,416,392 | ||||||||||||
IT Services — 0.6% | ||||||||||||
Ahead DB Holdings LLC, 6.63%, 05/01/28(e) | 35 | 35,263 | ||||||||||
Austin BidCo, Inc., 7.13%, 12/15/28(e) | 23 | 23,173 | ||||||||||
Booz Allen Hamilton, Inc.(e) | ||||||||||||
3.88%, 09/01/28 | 101 | 103,537 | ||||||||||
4.00%, 07/01/29 | 132 | 135,300 | ||||||||||
Camelot Finance SA, 4.50%, 11/01/26(e) | 53 | 55,054 | ||||||||||
Dun & Bradstreet Corp.(e) | ||||||||||||
6.88%, 08/15/26 | 102 | 106,972 | ||||||||||
10.25%, 02/15/27 | 232 | 249,400 | ||||||||||
Fiserv, Inc., 2.25%, 06/01/27 | 1,385 | 1,428,556 | ||||||||||
Gartner, Inc.(e) | ||||||||||||
4.50%, 07/01/28 | 83 | 87,150 | ||||||||||
3.63%, 06/15/29 | 82 | 82,623 | ||||||||||
3.75%, 10/01/30 | 66 | 67,927 | ||||||||||
KBR, Inc., 4.75%, 09/30/28(e) | 61 | 61,762 | ||||||||||
Rackspace Technology Global, Inc., 5.38%, 12/01/28(e) | 87 | 85,477 | ||||||||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 5.75%, 06/01/25(e) | 190 | 199,500 | ||||||||||
Twilio, Inc., 3.88%, 03/15/31 | 112 | 114,667 | ||||||||||
Unisys Corp., 6.88%, 11/01/27(e) | 13 | 14,203 | ||||||||||
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29(e) | 149 | 148,255 | ||||||||||
|
| |||||||||||
2,998,819 | ||||||||||||
Leisure Products — 0.0% | ||||||||||||
Mattel, Inc. | ||||||||||||
5.88%, 12/15/27(e) | 34 | 36,847 | ||||||||||
3.75%, 04/01/29(e) | 33 | 34,403 | ||||||||||
6.20%, 10/01/40 | 38 | 48,830 | ||||||||||
5.45%, 11/01/41 | 94 | 111,390 | ||||||||||
|
| |||||||||||
231,470 | ||||||||||||
Machinery — 0.4% | ||||||||||||
ATS Automation Tooling Systems, Inc., 4.13%, 12/15/28(e) | 35 | 35,893 | ||||||||||
Clark Equipment Co., 5.88%, 06/01/25(e) | 24 | 25,039 |
Security | Par (000) | Value | ||||||||||
Machinery (continued) | ||||||||||||
Colfax Corp., 6.38%, 02/15/26(e) | USD | 63 | $ | 66,257 | ||||||||
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25(e)(j) | 445 | 472,812 | ||||||||||
Madison IAQ LLC(e) | ||||||||||||
4.13%, 06/30/28 | 31 | 31,000 | ||||||||||
5.88%, 06/30/29 | 852 | 858,390 | ||||||||||
Mueller Water Products, Inc., 4.00%, 06/15/29(e) | 34 | 35,197 | ||||||||||
Platin 1426 GmbH, 5.38%, 06/15/23(a) | EUR | 100 | 116,704 | |||||||||
RBS Global, Inc./Rexnord LLC, 4.88%, 12/15/25(e) | USD | 5 | 5,122 | |||||||||
Terex Corp., 5.00%, 05/15/29(e) | 95 | 98,444 | ||||||||||
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26(e) | 147 | 150,194 | ||||||||||
TK Elevator US Newco Inc., 5.25%, 07/15/27(e) | 200 | 209,595 | ||||||||||
|
| |||||||||||
2,104,647 | ||||||||||||
Media — 2.3% | ||||||||||||
Adelphia Communications Corp., 10.50%, 12/31/49(c) | 400 | — | ||||||||||
Advantage Sales & Marketing, Inc., 6.50%, 11/15/28(e) | 34 | 35,436 | ||||||||||
Altice Financing SA(e) | ||||||||||||
5.00%, 01/15/28 | 204 | 196,702 | ||||||||||
5.75%, 08/15/29 | 251 | 243,126 | ||||||||||
Altice France Holding SA(e) | ||||||||||||
10.50%, 05/15/27 | 539 | 589,450 | ||||||||||
6.00%, 02/15/28 | 272 | 261,249 | ||||||||||
AMC Networks, Inc., 4.25%, 02/15/29 | 39 | 38,805 | ||||||||||
Cable One, Inc.(e) | ||||||||||||
1.13%, 03/15/28(l) | 66 | 66,966 | ||||||||||
4.00%, 11/15/30 | 34 | 33,873 | ||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||||||
5.13%, 05/01/27(e) | 48 | 49,983 | ||||||||||
5.00%, 02/01/28(e) | 34 | 35,493 | ||||||||||
5.38%, 06/01/29(e) | 117 | 126,360 | ||||||||||
4.50%, 08/15/30(e) | 113 | 116,584 | ||||||||||
4.25%, 02/01/31(e) | 263 | 267,563 | ||||||||||
4.50%, 05/01/32 | 231 | 237,930 | ||||||||||
4.50%, 06/01/33(e) | 95 | 96,683 | ||||||||||
4.25%, 01/15/34(e) | 302 | 299,169 | ||||||||||
Clear Channel International BV, 6.63%, 08/01/25(e) | 200 | 208,250 | ||||||||||
Clear Channel Outdoor Holdings, Inc.(e) | ||||||||||||
7.75%, 04/15/28 | 176 | 185,240 | ||||||||||
7.50%, 06/01/29 | 242 | 251,680 | ||||||||||
Clear Channel Worldwide Holdings, Inc., 5.13%, 08/15/27(e) | 659 | 681,940 | ||||||||||
Connect Finco Sarl/Connect US Finco LLC, 6.75%, 10/01/26(e) | 738 | 772,132 | ||||||||||
CSC Holdings LLC | ||||||||||||
5.25%, 06/01/24 | 344 | 368,486 | ||||||||||
4.63%, 12/01/30(e) | 223 | 211,398 | ||||||||||
3.38%, 02/15/31(e) | 205 | 190,650 | ||||||||||
DIRECTV Holdings LLC/DIRECTV Financing Co., Inc., 5.88%, 08/15/27(e) | 141 | 147,169 | ||||||||||
DISH DBS Corp. | ||||||||||||
5.88%, 07/15/22 | 582 | 599,824 | ||||||||||
7.75%, 07/01/26 | 151 | 170,513 | ||||||||||
5.13%, 06/01/29 | 250 | 244,947 | ||||||||||
Frontier Communications Holdings LLC(e) | ||||||||||||
5.88%, 10/15/27 | 145 | 154,062 | ||||||||||
5.00%, 05/01/28 | 216 | 226,800 | ||||||||||
6.75%, 05/01/29 | 167 | 175,976 |
SCHEDULE OF INVESTMENTS | 8 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Media (continued) | ||||||||||||
GCI LLC, 4.75%, 10/15/28(e) | USD | 29 | $ | 30,444 | ||||||||
Hughes Satellite Systems Corp., 5.25%, 08/01/26 | 20 | 22,550 | ||||||||||
iHeartCommunications, Inc., 8.38%, 05/01/27 | 11 | 12,112 | ||||||||||
Lamar Media Corp., 4.00%, 02/15/30 | 57 | 58,682 | ||||||||||
LCPR Senior Secured Financing DAC(e) | ||||||||||||
6.75%, 10/15/27 | 200 | 212,000 | ||||||||||
5.13%, 07/15/29 | 200 | 205,990 | ||||||||||
Liberty Broadband Corp., 2.75%, 09/30/50(e)(l) | 481 | 507,765 | ||||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(e)(j) | 185 | 179,296 | ||||||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29(e) | 45 | 46,520 | ||||||||||
Live Nation Entertainment, Inc.(e) | ||||||||||||
4.88%, 11/01/24 | 9 | 9,101 | ||||||||||
6.50%, 05/15/27 | 329 | 361,900 | ||||||||||
4.75%, 10/15/27 | 30 | 30,487 | ||||||||||
3.75%, 01/15/28 | 61 | 60,638 | ||||||||||
Midas OpCo Holdings LLC, 5.63%, 08/15/29(e) | 32 | 33,112 | ||||||||||
News Corp., 3.88%, 05/15/29(e) | 40 | 41,100 | ||||||||||
Outfront Media Capital LLC/Outfront Media Capital Corp.(e) | ||||||||||||
5.00%, 08/15/27 | 25 | 25,641 | ||||||||||
4.25%, 01/15/29 | 38 | 37,664 | ||||||||||
Radiate Holdco LLC/Radiate Finance, Inc.(e) | ||||||||||||
4.50%, 09/15/26 | 703 | 725,847 | ||||||||||
6.50%, 09/15/28 | 386 | 393,589 | ||||||||||
Scripps Escrow II, Inc., 3.88%, 01/15/29(e) | 5 | 5,017 | ||||||||||
Sinclair Television Group, Inc., 4.13%, 12/01/30(e) | 108 | 105,570 | ||||||||||
Sirius XM Radio, Inc.(e) | ||||||||||||
3.13%, 09/01/26 | 156 | 158,145 | ||||||||||
4.00%, 07/15/28 | 163 | 165,751 | ||||||||||
5.50%, 07/01/29 | 5 | 5,406 | ||||||||||
4.13%, 07/01/30 | 45 | 45,209 | ||||||||||
3.88%, 09/01/31 | 215 | 210,028 | ||||||||||
Telesat Canada/Telesat LLC, 4.88%, 06/01/27(e) | 47 | 43,240 | ||||||||||
Terrier Media Buyer, Inc., 8.88%, 12/15/27(e) | 104 | 109,968 | ||||||||||
Univision Communications, Inc.(e) | ||||||||||||
5.13%, 02/15/25 | 107 | 108,562 | ||||||||||
6.63%, 06/01/27 | 9 | 9,776 | ||||||||||
UPC Broadband Finco BV, 4.88%, 07/15/31(e) | 200 | 204,772 | ||||||||||
Videotron Ltd., 3.63%, 06/15/29(e) | 116 | 117,595 | ||||||||||
Virgin Media Secured Finance PLC, 4.50%, 08/15/30(e) | 200 | 203,250 | ||||||||||
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28(e) | 242 | 249,950 | ||||||||||
WMG Acquisition Corp., 3.88%, 07/15/30(e) | 7 | 7,280 | ||||||||||
Ziggo Bond Co. BV, 5.13%, 02/28/30(e) | 200 | 205,095 | ||||||||||
Ziggo BV, 5.50%, 01/15/27(e) | 150 | 155,062 | ||||||||||
|
| |||||||||||
12,388,553 | ||||||||||||
Metals & Mining — 0.5% |
| |||||||||||
Allegheny Technologies, Inc. | ||||||||||||
7.88%, 08/15/23 | 20 | 22,500 | ||||||||||
4.88%, 10/01/29 | 32 | 32,120 | ||||||||||
5.13%, 10/01/31 | 37 | 37,285 | ||||||||||
Arconic Corp.(e) | ||||||||||||
6.00%, 05/15/25 | 13 | 13,653 | ||||||||||
6.13%, 02/15/28 | 145 | 153,703 | ||||||||||
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29(e) | 324 | 350,325 |
Security | Par (000) | Value | ||||||||||
Metals & Mining (continued) |
| |||||||||||
Constellium SE, 3.75%, 04/15/29(e) | USD | 500 | $ | 486,960 | ||||||||
Freeport-McMoRan, Inc. | ||||||||||||
4.38%, 08/01/28 | 92 | 96,255 | ||||||||||
5.40%, 11/14/34 | 11 | 13,214 | ||||||||||
5.45%, 03/15/43 | 365 | 449,406 | ||||||||||
Grinding Media, Inc./Moly-Cop AltaSteel Ltd., 7.38%, 12/15/23(e) | 96 | 97,872 | ||||||||||
Joseph T Ryerson & Son, Inc., 8.50%, 08/01/28(e) | 38 | 42,132 | ||||||||||
Kaiser Aluminum Corp.(e) | ||||||||||||
4.63%, 03/01/28 | 75 | 77,437 | ||||||||||
4.50%, 06/01/31 | 41 | 42,025 | ||||||||||
New Gold, Inc., 7.50%, 07/15/27(e) | 170 | 174,910 | ||||||||||
Novelis Corp.(e) | ||||||||||||
3.25%, 11/15/26 | 133 | 134,886 | ||||||||||
4.75%, 01/30/30 | 364 | 383,183 | ||||||||||
3.88%, 08/15/31 | 189 | 186,930 | ||||||||||
Roller Bearing Co. of America, Inc., 4.38%, 10/15/29(e)(f) | 39 | 39,975 | ||||||||||
United States Steel Corp. | ||||||||||||
6.25%, 03/15/26 | 2 | 2,063 | ||||||||||
6.88%, 03/01/29 | 87 | 92,761 | ||||||||||
|
| |||||||||||
2,929,595 | ||||||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.0% |
| |||||||||||
Starwood Property Trust, Inc., 5.50%, 11/01/23(e) | 9 | 9,441 | ||||||||||
|
| |||||||||||
Multi-line Retail(e) — 0.0% |
| |||||||||||
Bath & Body Works, Inc., 6.63%, 10/01/30 | 46 | 52,210 | ||||||||||
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26 | 126 | 133,717 | ||||||||||
|
| |||||||||||
185,927 | ||||||||||||
Offshore Drilling & Other Services — 0.0% |
| |||||||||||
Entegris, Inc., 3.63%, 05/01/29(e) | 31 | 31,624 | ||||||||||
|
| |||||||||||
Oil, Gas & Consumable Fuels — 2.6% |
| |||||||||||
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26(e) | 145 | 156,600 | ||||||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp.(e) | ||||||||||||
7.88%, 05/15/26 | 130 | 142,149 | ||||||||||
5.75%, 03/01/27 | 66 | 68,181 | ||||||||||
5.75%, 01/15/28 | 15 | 15,544 | ||||||||||
5.38%, 06/15/29 | 66 | 67,980 | ||||||||||
Antero Resources Corp.(e) | ||||||||||||
7.63%, 02/01/29 | 79 | 88,322 | ||||||||||
5.38%, 03/01/30 | 25 | 26,329 | ||||||||||
Apache Corp. | ||||||||||||
4.25%, 01/15/30 | 62 | 66,806 | ||||||||||
5.10%, 09/01/40 | 121 | 135,518 | ||||||||||
5.25%, 02/01/42 | 18 | 19,755 | ||||||||||
5.35%, 07/01/49 | 23 | 25,546 | ||||||||||
Arcosa, Inc., 4.38%, 04/15/29(e) | 120 | 121,500 | ||||||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp.(e) | ||||||||||||
9.00%, 11/01/27 | 212 | 290,440 | ||||||||||
8.25%, 12/31/28 | 42 | 45,780 | ||||||||||
5.88%, 06/30/29 | 136 | 138,955 | ||||||||||
Brand Industrial Services, Inc., 8.50%, 07/15/25(e) | 314 | 315,177 | ||||||||||
Buckeye Partners LP | 16 | 16,014 |
9
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||
Buckeye Partners LP (continued) | ||||||||||
5.60%, 10/15/44 | USD | 6 | $ | 5,835 | ||||||
Callon Petroleum Co. | ||||||||||
6.13%, 10/01/24 | 33 | 32,430 | ||||||||
9.00%, 04/01/25(e) | 219 | 236,806 | ||||||||
8.00%, 08/01/28(e) | 179 | 176,762 | ||||||||
Cellnex Telecom SA, Series CLNX, 0.75%, 11/20/31(a) | EUR | 100 | 113,816 | |||||||
Cheniere Energy Partners LP | ||||||||||
4.50%, 10/01/29 | USD | 133 | 141,396 | |||||||
4.00%, 03/01/31(e) | 230 | 240,856 | ||||||||
3.25%, 01/31/32(e) | 156 | 156,515 | ||||||||
Cheniere Energy, Inc., 4.63%, 10/15/28 | 525 | 553,219 | ||||||||
Chesapeake Energy Corp., 5.88%, 02/01/29(e) | 5 | 5,342 | ||||||||
CITGO Petroleum Corp.(e) | ||||||||||
7.00%, 06/15/25 | 90 | 92,025 | ||||||||
6.38%, 06/15/26 | 74 | 75,480 | ||||||||
CNX Midstream Partners LP, 4.75%, 04/15/30(e) | 30 | 30,464 | ||||||||
CNX Resources Corp., 6.00%, 01/15/29(e) | 19 | 20,093 | ||||||||
Colgate Energy Partners III LLC(e) | ||||||||||
7.75%, 02/15/26 | 38 | 39,995 | ||||||||
5.88%, 07/01/29 | 96 | 96,720 | ||||||||
Comstock Resources, Inc.(e) | ||||||||||
7.50%, 05/15/25 | 96 | 99,800 | ||||||||
6.75%, 03/01/29 | 161 | 173,880 | ||||||||
5.88%, 01/15/30 | 89 | 92,560 | ||||||||
Continental Resources, Inc., 4.90%, 06/01/44 | 75 | 84,000 | ||||||||
CrownRock LP/CrownRock Finance, Inc., 5.63%, 10/15/25(e) | 435 | 445,201 | ||||||||
DCP Midstream Operating LP(e) | ||||||||||
6.45%, 11/03/36 | 250 | 310,645 | ||||||||
6.75%, 09/15/37 | 21 | 27,090 | ||||||||
DT Midstream, Inc.(e) | ||||||||||
4.13%, 06/15/29 | 139 | 140,954 | ||||||||
4.38%, 06/15/31 | 178 | 183,340 | ||||||||
Dycom Industries, Inc., 4.50%, 04/15/29(e) | 33 | 33,139 | ||||||||
eG Global Finance PLC | ||||||||||
6.75%, 02/07/25(e) | 200 | 204,500 | ||||||||
6.25%, 10/30/25(a) | EUR | 142 | 168,022 | |||||||
Endeavor Energy Resources LP/EER Finance, Inc., 5.50%, 01/30/26(e) | USD | 421 | 438,850 | |||||||
Energy Transfer LP, Series H, (5 year CMT + 5.69%), 6.50%(h)(i) | 204 | 212,439 | ||||||||
EnLink Midstream LLC, 5.63%, 01/15/28(e) | 56 | 59,625 | ||||||||
EnLink Midstream Partners LP | ||||||||||
4.40%, 04/01/24 | 136 | 141,361 | ||||||||
4.85%, 07/15/26 | 39 | 40,938 | ||||||||
5.60%, 04/01/44 | 74 | 70,670 | ||||||||
EQM Midstream Partners LP | ||||||||||
6.00%, 07/01/25(e) | 88 | 96,466 | ||||||||
4.13%, 12/01/26 | 17 | 17,462 | ||||||||
6.50%, 07/01/27(e) | 117 | 131,596 | ||||||||
4.50%, 01/15/29(e) | 55 | 57,063 | ||||||||
4.75%, 01/15/31(e) | 236 | 245,445 | ||||||||
EQT Corp. | ||||||||||
3.13%, 05/15/26(e) | 57 | 58,432 | ||||||||
3.90%, 10/01/27 | 116 | 125,539 | ||||||||
5.00%, 01/15/29 | 10 | 11,260 | ||||||||
7.50%, 02/01/30 | 39 | 50,201 |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
EQT Corp. (continued) | ||||||||||||
3.63%, 05/15/31(e) | USD | 16 | $ | 16,672 | ||||||||
Genesis Energy LP/Genesis Energy Finance Corp., | ||||||||||||
8.00%, 01/15/27 | 68 | 68,850 | ||||||||||
Great Western Petroleum LLC/Great Western Finance Corp., 12.00%, 09/01/25(e) | 6 | 6,092 | ||||||||||
Harvest Midstream I LP, 7.50%, 09/01/28(e) | 20 | 21,303 | ||||||||||
Hess Midstream Operations LP, 4.25%, 02/15/30(e) | 82 | 82,923 | ||||||||||
Independence Energy Finance LLC, 7.25%, 05/01/26(e) | 157 | 161,664 | ||||||||||
ITT Holdings LLC, 6.50%, 08/01/29(e) | 109 | 109,954 | ||||||||||
MasTec, Inc., 4.50%, 08/15/28(e) | 66 | 68,888 | ||||||||||
Matador Resources Co., 5.88%, 09/15/26 | 204 | 210,875 | ||||||||||
Murphy Oil Corp., 5.75%, 08/15/25 | 55 | 56,772 | ||||||||||
Murphy Oil USA, Inc., 4.75%, 09/15/29 | 109 | 115,404 | ||||||||||
New Fortress Energy, Inc.(e) | ||||||||||||
6.75%, 09/15/25 | 489 | 470,662 | ||||||||||
6.50%, 09/30/26 | 367 | 350,944 | ||||||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26(e) | 95 | 96,781 | ||||||||||
NGPL PipeCo LLC, 7.77%, 12/15/37(e) | 186 | 266,560 | ||||||||||
Northern Oil and Gas, Inc., 8.13%, 03/01/28(e) | 153 | 163,442 | ||||||||||
NuStar Logistics LP | ||||||||||||
5.75%, 10/01/25 | 41 | 44,178 | ||||||||||
6.00%, 06/01/26 | 124 | 133,920 | ||||||||||
6.38%, 10/01/30 | 2 | 2,200 | ||||||||||
Occidental Petroleum Corp. | ||||||||||||
6.95%, 07/01/24 | 19 | 21,470 | ||||||||||
5.50%, 12/01/25 | 33 | 36,548 | ||||||||||
5.55%, 03/15/26 | 12 | 13,320 | ||||||||||
3.00%, 02/15/27 | 2 | 1,998 | ||||||||||
8.88%, 07/15/30 | 2 | 2,717 | ||||||||||
6.13%, 01/01/31 | 77 | 92,437 | ||||||||||
4.30%, 08/15/39 | 174 | 171,613 | ||||||||||
6.20%, 03/15/40 | 291 | 342,711 | ||||||||||
4.50%, 07/15/44 | 98 | 98,471 | ||||||||||
4.63%, 06/15/45 | 173 | 176,892 | ||||||||||
6.60%, 03/15/46 | 7 | 8,785 | ||||||||||
4.40%, 04/15/46 | 114 | 113,698 | ||||||||||
4.10%, 02/15/47 | 22 | 20,920 | ||||||||||
4.20%, 03/15/48 | 69 | 66,068 | ||||||||||
4.40%, 08/15/49 | 35 | 34,344 | ||||||||||
Ovintiv Exploration, Inc., 5.38%, 01/01/26 | 11 | 12,437 | ||||||||||
Ovintiv, Inc. | ||||||||||||
7.38%, 11/01/31 | 23 | 31,198 | ||||||||||
6.50%, 08/15/34 | 15 | 20,230 | ||||||||||
PDC Energy, Inc. | ||||||||||||
6.13%, 09/15/24 | 136 | 138,040 | ||||||||||
6.25%, 12/01/25 | 29 | 29,435 | ||||||||||
Range Resources Corp. | ||||||||||||
4.88%, 05/15/25 | 39 | 41,176 | ||||||||||
9.25%, 02/01/26 | 19 | 20,711 | ||||||||||
Rockcliff Energy II LLC, 5.50%, 10/15/29(e)(f) | 65 | 65,975 | ||||||||||
SM Energy Co. | ||||||||||||
10.00%, 01/15/25(e) | 225 | 250,960 | ||||||||||
5.63%, 06/01/25 | 22 | 22,126 | ||||||||||
6.75%, 09/15/26 | 37 | 37,788 | ||||||||||
6.50%, 07/15/28 | 23 | 23,812 |
SCHEDULE OF INVESTMENTS | 10 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||
Southwestern Energy Co. | ||||||||||
8.38%, 09/15/28 | USD | 24 | $ | 27,186 | ||||||
5.38%, 02/01/29(e) | 150 | 160,471 | ||||||||
Sunoco LP/Sunoco Finance Corp., 5.88%, 03/15/28 | 151 | 159,305 | ||||||||
Tap Rock Resources LLC, 7.00%, 10/01/26(e) | 188 | 192,465 | ||||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||||||||
5.38%, 02/01/27 | 17 | 17,615 | ||||||||
5.50%, 03/01/30 | 267 | 291,948 | ||||||||
4.88%, 02/01/31 | 89 | 96,009 | ||||||||
4.00%, 01/15/32(e) | 6 | 6,201 | ||||||||
Transocean, Inc., 11.50%, 01/30/27(e) | 167 | 172,010 | ||||||||
Venture Global Calcasieu Pass LLC(e) | ||||||||||
3.88%, 08/15/29 | 250 | 257,512 | ||||||||
4.13%, 08/15/31 | 222 | 231,435 | ||||||||
Vine Energy Holdings LLC, 6.75%, 04/15/29(e) | 188 | 202,923 | ||||||||
Western Midstream Operating LP | ||||||||||
4.75%, 08/15/28 | 95 | 103,577 | ||||||||
5.45%, 04/01/44 | 217 | 249,255 | ||||||||
5.30%, 03/01/48 | 51 | 58,778 | ||||||||
5.50%, 08/15/48 | 13 | 15,210 | ||||||||
6.50%, 02/01/50 | 131 | 154,158 | ||||||||
|
| |||||||||
14,218,850 | ||||||||||
Personal Products — 0.0% |
| |||||||||
Edgewell Personal Care Co., 5.50%, 06/01/28(e) | 29 | 30,628 | ||||||||
|
| |||||||||
Pharmaceuticals — 0.6% |
| |||||||||
Bausch Health Americas, Inc., 8.50%, 01/31/27(e) | 101 | 107,585 | ||||||||
Bausch Health Cos., Inc.(e) | ||||||||||
9.00%, 12/15/25 | 255 | 269,146 | ||||||||
7.00%, 01/15/28 | 130 | 133,211 | ||||||||
4.88%, 06/01/28 | 93 | 96,371 | ||||||||
5.00%, 02/15/29 | 154 | 143,413 | ||||||||
6.25%, 02/15/29 | 144 | 142,491 | ||||||||
5.25%, 02/15/31 | 29 | 26,669 | ||||||||
Cheplapharm Arzneimittel GmbH, 4.38%, 01/15/28(a) | EUR | 100 | 120,468 | |||||||
Elanco Animal Health, Inc., 5.90%, 08/28/28 | USD | 57 | 66,690 | |||||||
Endo Dac/Endo Finance LLC/Endo Finco, Inc., | ||||||||||
9.50%, 07/31/27(e) | 218 | 218,484 | ||||||||
Endo Luxembourg Finance Co. I Sarl/Endo US, Inc., 6.13%, 04/01/29(e) | 154 | 154,000 | ||||||||
Gruenenthal GmbH, 4.13%, 05/15/28(a) | EUR | 100 | 121,363 | |||||||
Jaguar Holding Co. II/PPD Development LP(e) | ||||||||||
4.63%, 06/15/25 | USD | 26 | 27,008 | |||||||
5.00%, 06/15/28 | 188 | 202,352 | ||||||||
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24(a) | EUR | 200 | 230,048 | |||||||
Organon & Co./Organon Foreign Debt Co-Issuer BV(e) | ||||||||||
4.13%, 04/30/28 | USD | 200 | 204,000 | |||||||
5.13%, 04/30/31 | 200 | 210,070 | ||||||||
P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25(e) | 91 | 94,522 | ||||||||
Par Pharmaceutical, Inc., 7.50%, 04/01/27(e) | 254 | 258,762 |
Security | Par (000) | Value | ||||||||
Pharmaceuticals (continued) |
| |||||||||
PRA Health Sciences, Inc., 2.88%, 07/15/26(e) | USD | 200 | $ | 202,000 | ||||||
Prestige Brands, Inc., 3.75%, 04/01/31(e) | 70 | 67,550 | ||||||||
|
| |||||||||
3,096,203 | ||||||||||
Professional Services(e)(f) — 0.1% |
| |||||||||
Mozart Debt Merger Sub, Inc. | ||||||||||
3.88%, 04/01/29 | 152 | 152,000 | ||||||||
5.25%, 10/01/29 | 329 | 329,000 | ||||||||
|
| |||||||||
481,000 | ||||||||||
Real Estate Management & Development — 0.1% |
| |||||||||
Cushman & Wakefield U.S. Borrower LLC, 6.75%, 05/15/28(e) | 93 | 100,905 | ||||||||
DIC Asset AG, 2.25%, 09/22/26(a) | EUR | 100 | 113,860 | |||||||
Howard Hughes Corp.(e) | ||||||||||
5.38%, 08/01/28 | USD | 8 | 8,430 | |||||||
4.13%, 02/01/29 | 51 | 51,064 | ||||||||
4.38%, 02/01/31 | 78 | 78,461 | ||||||||
Kennedy-Wilson, Inc., 4.75%, 02/01/30 | 44 | 44,671 | ||||||||
Realogy Group LLC/Realogy Co-Issuer Corp.(e) | ||||||||||
7.63%, 06/15/25 | 41 | 43,786 | ||||||||
5.75%, 01/15/29 | 94 | 97,502 | ||||||||
Unique Pub Finance Co. PLC, Series A4, 5.66%, 06/30/27(a) | GBP | 43 | 64,270 | |||||||
|
| |||||||||
602,949 | ||||||||||
Road & Rail — 0.0% |
| |||||||||
Autostrade per l’Italia SpA, 2.00%, 01/15/30(a) | EUR | 100 | 121,453 | |||||||
Seaspan Corp., 5.50%, 08/01/29(e) | USD | 104 | 106,165 | |||||||
|
| |||||||||
227,618 | ||||||||||
Semiconductors & Semiconductor Equipment(e) — 0.1% |
| |||||||||
Atkore, Inc., 4.25%, 06/01/31 | 53 | 54,590 | ||||||||
ON Semiconductor Corp., 3.88%, 09/01/28 | 106 | 109,445 | ||||||||
Sensata Technologies BV, 4.00%, 04/15/29 | 57 | 58,023 | ||||||||
Sensata Technologies, Inc. | ||||||||||
4.38%, 02/15/30 | 164 | 176,458 | ||||||||
3.75%, 02/15/31 | 49 | 49,335 | ||||||||
Synaptics, Inc., 4.00%, 06/15/29 | 61 | 62,407 | ||||||||
|
| |||||||||
510,258 | ||||||||||
Software — 0.4% |
| |||||||||
Black Knight InfoServ LLC, 3.63%, 09/01/28(e) | 122 | 122,610 | ||||||||
Boxer Parent Co., Inc.(e) | ||||||||||
7.13%, 10/02/25 | 111 | 118,476 | ||||||||
9.13%, 03/01/26 | 215 | 225,440 | ||||||||
Crowdstrike Holdings, Inc., 3.00%, 02/15/29 | 88 | 87,705 | ||||||||
Elastic NV, 4.13%, 07/15/29(e) | 120 | 120,600 | ||||||||
MicroStrategy, Inc., 6.13%, 06/15/28(e) | 102 | 103,020 | ||||||||
MSCI, Inc.(e) | ||||||||||
3.63%, 09/01/30 | 50 | 51,687 | ||||||||
3.88%, 02/15/31 | 20 | 20,975 | ||||||||
3.63%, 11/01/31 | 41 | 42,664 | ||||||||
3.25%, 08/15/33 | 58 | 58,665 | ||||||||
Open Text Corp., 3.88%, 02/15/28(e) | 5 | 5,100 | ||||||||
Playtika Holding Corp., 4.25%, 03/15/29(e) | 136 | 136,434 | ||||||||
PTC, Inc., 4.00%, 02/15/28(e) | 80 | 82,100 | ||||||||
Rocket Software, Inc., 6.50%, 02/15/29(e) | 132 | 130,680 |
11
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||
Software (continued) | ||||||||||
SS&C Technologies, Inc., 5.50%, 09/30/27(e) | USD | 228 | $ | 240,753 | ||||||
Veritas US, Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25(e) | 501 | 521,040 | ||||||||
|
| |||||||||
2,067,949 | ||||||||||
Specialty Retail(e) — 0.2% | ||||||||||
Gap, Inc. | ||||||||||
3.63%, 10/01/29 | 32 | 32,080 | ||||||||
3.88%, 10/01/31 | 25 | 25,000 | ||||||||
PetSmart, Inc./PetSmart Finance Corp., 7.75%, 02/15/29 | 503 | 548,899 | ||||||||
Staples, Inc. | ||||||||||
7.50%, 04/15/26 | 130 | 131,849 | ||||||||
10.75%, 04/15/27 | 61 | 59,399 | ||||||||
|
| |||||||||
797,227 | ||||||||||
Textiles, Apparel & Luxury Goods(e) — 0.0% | ||||||||||
Crocs, Inc. | ||||||||||
4.25%, 03/15/29 | 50 | 51,454 | ||||||||
4.13%, 08/15/31 | 63 | 63,472 | ||||||||
Hanesbrands, Inc., 5.38%, 05/15/25 | 30 | 31,406 | ||||||||
Levi Strauss & Co., 3.50%, 03/01/31 | 35 | 35,350 | ||||||||
William Carter Co., 5.50%, 05/15/25 | 11 | 11,558 | ||||||||
Wolverine World Wide, Inc., 4.00%, 08/15/29 | 33 | 33,330 | ||||||||
|
| |||||||||
226,570 | ||||||||||
Thrifts & Mortgage Finance — 0.1% | ||||||||||
Enact Holdings, Inc., 6.50%, 08/15/25(e) | 132 | 144,114 | ||||||||
Home Point Capital, Inc., 5.00%, 02/01/26(e) | 68 | 61,643 | ||||||||
MGIC Investment Corp., 5.25%, 08/15/28 | 47 | 50,151 | ||||||||
Nationstar Mortgage Holdings, Inc.(e) | ||||||||||
6.00%, 01/15/27 | 78 | 81,650 | ||||||||
5.50%, 08/15/28 | 76 | 78,280 | ||||||||
5.13%, 12/15/30 | 45 | 45,100 | ||||||||
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.(e)(f) | ||||||||||
2.88%, 10/15/26 | 60 | 58,632 | ||||||||
4.00%, 10/15/33 | 61 | 60,543 | ||||||||
|
| |||||||||
580,113 | ||||||||||
Utilities(e) — 0.1% | ||||||||||
Consensus Cloud Solutions, Inc.(f) | ||||||||||
6.00%, 10/15/26 | 23 | 23,633 | ||||||||
6.50%, 10/15/28 | 20 | 20,755 | ||||||||
Solaris Midstream Holdings LLC, 7.63%, 04/01/26 | 34 | 36,436 | ||||||||
Vistra Operations Co. LLC | ||||||||||
5.63%, 02/15/27 | 99 | 102,471 | ||||||||
4.38%, 05/01/29 | 73 | 73,447 | ||||||||
|
| |||||||||
256,742 | ||||||||||
Wireless Telecommunication Services — 0.6% | ||||||||||
Altice France SA(e) | ||||||||||
8.13%, 02/01/27 | 334 | 359,384 | ||||||||
5.13%, 07/15/29 | 351 | 344,147 | ||||||||
5.50%, 10/15/29(f) | 200 | 197,976 | ||||||||
GLP Capital LP/GLP Financing II, Inc., 4.00%, 01/15/31 | 39 | 42,065 | ||||||||
Matterhorn Telecom SA, 4.00%, 11/15/27(a) | EUR | 100 | 118,525 | |||||||
SBA Communications Corp., 3.88%, 02/15/27 | USD | 424 | 439,370 | |||||||
T-Mobile USA, Inc. | ||||||||||
2.63%, 02/15/29 | 45 | 45,475 | ||||||||
2.88%, 02/15/31 | 154 | 155,309 |
Security | Par (000) | Value | ||||||||
Wireless Telecommunication Services (continued) | ||||||||||
T-Mobile USA, Inc. (continued) | ||||||||||
3.50%, 04/15/31 | USD | 138 | $ | 145,540 | ||||||
3.50%, 04/15/31(e) | 116 | 122,338 | ||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 6.50%, 02/15/29(e) | 144 | 148,128 | ||||||||
VICI Properties LP/VICI Note Co., Inc.(e) | ||||||||||
4.25%, 12/01/26 | 392 | 409,377 | ||||||||
4.63%, 12/01/29 | 321 | 345,075 | ||||||||
4.13%, 08/15/30 | 24 | 25,440 | ||||||||
Vmed O2 UK Financing I PLC, 4.75%, 07/15/31(e) | 200 | 204,336 | ||||||||
|
| |||||||||
3,102,485 | ||||||||||
|
| |||||||||
Total Corporate Bonds — 20.4% (Cost: $116,173,020) | 110,917,040 | |||||||||
|
| |||||||||
Floating Rate Loan Interests(h) | ||||||||||
Aerospace & Defense — 4.5% | ||||||||||
Atlas CC Acquisition Corp. | ||||||||||
Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 05/25/28 | 5,608 | 5,623,453 | ||||||||
Term Loan C, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 05/25/28 | 1,140 | 1,143,753 | ||||||||
Bleriot US Bidco, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.00%), 4.13%, 10/31/26 | 818 | 818,145 | ||||||||
Dynasty Acquisition Co., Inc. | ||||||||||
2020 CAD Term Loan B2, (3 mo. LIBOR + 3.50%), 3.63%, 04/06/26 | 1,791 | 1,749,860 | ||||||||
2020 Term Loan B1, (3 mo. LIBOR + 3.50%), 3.63%, 04/06/26 | 3,331 | 3,254,739 | ||||||||
Nordam Group, Inc., Term Loan B, (1 mo. LIBOR + 5.50%), 5.63%, 04/09/26 | 772 | 720,077 | ||||||||
Peraton Holding Corp. | ||||||||||
2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 8.50%, 02/01/29 | 2,002 | 2,039,537 | ||||||||
Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/01/28 | 6,069 | 6,070,184 | ||||||||
Spirit Aerosystems, Inc., 2020 Term Loan B, (1 mo. LIBOR + 5.25%, 0.75% Floor), 6.00%, 01/15/25 | 886 | 888,891 | ||||||||
TransDigm, Inc., 2020 Term Loan F, (1 mo. LIBOR + 2.25%), 2.33%, 12/09/25 | 2,400 | 2,369,768 | ||||||||
|
| |||||||||
24,678,407 | ||||||||||
Air Freight & Logistics — 0.4% | ||||||||||
AIT Worldwide Logistics, Inc, 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 03/31/28 | 423 | 424,059 | ||||||||
Kestrel Bidco, Inc., Term Loan B, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 12/11/26 | 1,558 | 1,518,850 | ||||||||
|
| |||||||||
1,942,909 | ||||||||||
Airlines — 2.1% | ||||||||||
AAdvantage Loyalty IP Ltd./American Airlines, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 04/20/28 | 1,131 | 1,168,855 | ||||||||
Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/11/28 | 1,802 | 1,808,402 | ||||||||
American Airlines, Inc. | ||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 1.84%, 01/29/27 | 451 | 431,528 |
SCHEDULE OF INVESTMENTS | 12 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Airlines (continued) | ||||||||||||
American Airlines, Inc. (continued) |
| |||||||||||
2017 Incremental Term Loan, (1 mo. LIBOR + 2.00%), 2.08%, 12/15/23 | USD | 2,255 | $ | 2,204,555 | ||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.25%, 06/21/27 | 2,112 | 2,242,691 | ||||||||||
United Airlines, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 04/21/28 | 3,303 | 3,323,683 | ||||||||||
|
| |||||||||||
11,179,714 | ||||||||||||
Auto Components — 2.4% | ||||||||||||
Adient US LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.50%), 3.58%, 04/08/28 | 726 | 725,875 | ||||||||||
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.33%, 04/30/26 | 3,217 | 3,200,573 | ||||||||||
Truck Hero, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 01/31/28 | 2,224 | 2,217,799 | ||||||||||
USI, Inc. | ||||||||||||
2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 3.13%, 05/16/24 | 4,359 | 4,327,145 | ||||||||||
2019 Incremental Term Loan B, (3 mo. LIBOR + 3.25%), 3.38%, 12/02/26 | 248 | 246,788 | ||||||||||
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 3.08%, 02/05/26 | 2,308 | 2,285,742 | ||||||||||
|
| |||||||||||
13,003,922 | ||||||||||||
Banks — 0.5% | ||||||||||||
Directv Financing LLC, (3 mo. LIBOR + 5.00%, 0.75% Floor), 5.75%, 07/22/27 | 2,507 | 2,507,320 | ||||||||||
|
| |||||||||||
Building Materials — 0.1% |
| |||||||||||
CHI Overhead Doors, Inc, Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 07/31/25 | 161 | 161,320 | ||||||||||
Cornerstone Building Brands, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 04/12/28 | 519 | 517,255 | ||||||||||
|
| |||||||||||
678,575 | ||||||||||||
Building Products — 2.3% | ||||||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.50% Floor), 4.25%, 11/23/27 | 2,463 | 2,453,804 | ||||||||||
CPG International, Inc., 2017 Term Loan, (3 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 05/05/24 | 1,529 | 1,528,251 | ||||||||||
Jeld-Wen, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.33%, 07/28/28 | 1,121 | 1,118,858 | ||||||||||
LSF10 XL Bidco SCA, 2021 EUR Term Loan, (Euribor + 4.25%), 4.25%, 04/12/28 | EUR | 1,000 | 1,159,439 | |||||||||
MI Windows And Doors LLC, 2020 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/18/27 | USD | 470 | 471,033 | |||||||||
Standard Industries, Inc., 2021 Term Loan B, 09/22/28(m) | 2,245 | 2,246,212 | ||||||||||
Wilsonart LLC, 2021 Term Loan E, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 12/19/26 | 3,723 | 3,724,220 | ||||||||||
|
| |||||||||||
12,701,817 | ||||||||||||
Capital Markets — 2.2% | ||||||||||||
AQGEN Ascensus, Inc., 2021 2nd Lien Term Loan, (2 mo. LIBOR + 6.50%, 0.50% Floor), 7.00%, 08/02/29(c) | 2,232 | 2,209,680 |
Security | Par (000) | Value | ||||||||||
Capital Markets (continued) | ||||||||||||
Deerfield Dakota Holding LLC | ||||||||||||
2020 USD Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 04/09/27 | USD | 5,477 | $ | 5,488,632 | ||||||||
2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 04/07/28 | 1,594 | 1,641,820 | ||||||||||
Eagle Broadband Investments LLC, Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 11/12/27 | 1,256 | 1,255,512 | ||||||||||
FinCo I LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.50%), 2.58%, 06/27/25 | — | (n) | 247 | |||||||||
Focus Financial Partners LLC, 2021 Term Loan, (1 mo. LIBOR + 2.50%, 0.50% Floor), 3.00%, 07/01/28 | 1,063 | 1,059,722 | ||||||||||
Greenhill & Co., Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.33%, 04/12/24 | 559 | 556,598 | ||||||||||
|
| |||||||||||
12,212,211 | ||||||||||||
Chemicals — 5.2% | ||||||||||||
Ascend Performance Materials Operations LLC, | ||||||||||||
2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 08/27/26 | 2,936 | 2,968,944 | ||||||||||
Atotech BV, 2021 USD Term Loan B, (3 mo. LIBOR + 2.50%, 0.50% Floor), 3.00%, 03/18/28 | 3,083 | 3,078,771 | ||||||||||
Axalta Coating Systems US Holdings, Inc., USD Term Loan B3, (3 mo. LIBOR + 1.75%), 1.88%, 06/01/24 | 1,253 | 1,248,884 | ||||||||||
Element Materials Technology Group US Holdings, Inc., 2017 Term Loan B, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 06/28/24 | 1,339 | 1,333,165 | ||||||||||
Element Solutions, Inc., 2019 Term Loan B1, (1 mo. LIBOR + 2.00%), 2.08%, 01/31/26 | 1,769 | 1,765,182 | ||||||||||
Encapsys LLC, 2020 Term Loan B2, (PRIME + 2.25%), 5.50%, 11/07/24 | 1,259 | 1,256,614 | ||||||||||
Illuminate Buyer LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%), 3.58%, 06/30/27 | 1,243 | 1,240,247 | ||||||||||
Invictus Technical Solutions LLC, 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%), 6.83%, 03/30/26 | 973 | 970,591 | ||||||||||
Invictus US LLC, 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.08%, 03/28/25 | 673 | 671,015 | ||||||||||
Klockner-Pentaplast of America, Inc., 2021 Term Loan B, (6 mo. LIBOR + 4.75%, 0.50% Floor), 5.25%, 02/12/26 | 1,134 | 1,136,432 | ||||||||||
Lonza Group AG, USD Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 07/03/28 | 918 | 920,159 | ||||||||||
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 2.63%, 03/01/26 | 2,832 | 2,816,036 | ||||||||||
Minerals Technologies, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 3.00%, 02/14/24(c) | 378 | 378,403 | ||||||||||
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.34%, 05/15/24 | 1,527 | 1,523,191 | ||||||||||
NIC Acquisition Corp., Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/29/27 | 652 | 650,910 | ||||||||||
Oxea Corp., 2017 USD Term Loan B2, (1 mo. LIBOR + 3.25%), 3.38%, 10/14/24 | 1,537 | 1,528,914 | ||||||||||
PQ Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.75%, 0.50% Floor), 3.25%, 06/09/28 | 1,542 | 1,542,459 | ||||||||||
Pregis TopCo Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 4.00%, 0.50% Floor), 4.50%, 07/31/26(c) | 625 | 624,564 |
13
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Chemicals (continued) | ||||||||||||
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 03/16/27 | USD | 945 | $ | 945,637 | ||||||||
Sparta U.S. HoldCo LLC, 2021 Term Loan, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/02/28 | 1,025 | 1,026,281 | ||||||||||
Starfruit Finco BV, 2018 USD Term Loan B, (1 mo. LIBOR + 2.75%), 2.83%, 10/01/25 | 354 | 351,063 | ||||||||||
WR Grace & Co., 2021 Term Loan B, 09/22/28(m) | 475 | 476,487 | ||||||||||
|
| |||||||||||
28,453,949 | ||||||||||||
Commercial Services & Supplies — 4.4% | ||||||||||||
Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, (3 mo. LIBOR + 3.75%, 0.50% Floor), 4.25%, 05/12/28 | 2,333 | 2,334,297 | ||||||||||
Asurion LLC | ||||||||||||
2018 Term Loan B6, (1 mo. LIBOR + 3.12%), 3.21%, 11/03/23 | 1,278 | 1,270,220 | ||||||||||
2018 Term Loan B7, (1 mo. LIBOR + 3.00%), 3.08%, 11/03/24 | 919 | 908,231 | ||||||||||
2020 Term Loan B8, (1 mo. LIBOR + 3.25%), 3.33%, 12/23/26 | 699 | 687,916 | ||||||||||
2021 2nd Lien Term Loan B3, (1 mo. LIBOR + 5.25%), 5.33%, 01/31/28 | 985 | 981,896 | ||||||||||
2021 2nd Lien Term Loan B4, (1 mo. LIBOR + 5.25%), 5.33%, 01/20/29 | 1,402 | 1,394,640 | ||||||||||
Bingo Industries Ltd., Term Loan, 07/08/28(c)(m) | 414 | 412,965 | ||||||||||
Clean Harbors, Inc., 2021 Incremental Term Loan B, 09/21/28(m) | 618 | 617,740 | ||||||||||
Creative Artists Agency LLC, 2020 Incremental Term Loan B1, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 11/27/26 | 1,715 | 1,705,068 | ||||||||||
Dealer Tire LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 4.33%, 12/12/25 | 2,687 | 2,686,009 | ||||||||||
Diamond (BC) BV, 2021 Term Loan B, 09/29/28(m) | 1,702 | 1,703,174 | ||||||||||
EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 05/09/25(c) | 450 | 448,477 | ||||||||||
KAR Auction Services, Inc., 2019 Term Loan B6, (1 mo. LIBOR + 2.25%), 2.38%, 09/19/26(c) | 1,277 | 1,244,680 | ||||||||||
Packers Holdings LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 03/09/28 | 1,766 | 1,756,524 | ||||||||||
Prime Security Services Borrower LLC, 2021 Term Loan, (6 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 09/23/26 | 1,498 | 1,495,834 | ||||||||||
Vericast Corp., 2021 Term Loan, (3 mo. LIBOR + 7.75%, 1.00% Floor), 8.75%, 06/16/26 | 396 | 370,845 | ||||||||||
Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 4.08%, 08/27/25 | 3,271 | 3,274,122 | ||||||||||
Viad Corp, Initial Term Loan, (3 mo. LIBOR + 5.00%, 0.50% Floor), 5.50%, 07/30/28(c) | 696 | 692,520 | ||||||||||
|
| |||||||||||
23,985,158 | ||||||||||||
Construction & Engineering — 1.7% | ||||||||||||
Brand Industrial Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 06/21/24 | 3,590 | 3,556,094 |
Security | Par (000) | Value | ||||||||||
Construction & Engineering (continued) | ||||||||||||
Pike Corp., 2021 Incremental Term Loan B, (1 mo. LIBOR + 3.00%), 3.09%, 01/21/28 | USD | 925 | $ | 924,241 | ||||||||
SRS Distribution, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.50% Floor), 4.25%, 06/02/28 | 3,457 | 3,455,548 | ||||||||||
USIC Holdings, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 05/12/28 | 1,565 | 1,563,139 | ||||||||||
|
| |||||||||||
9,499,022 | ||||||||||||
Construction Materials — 2.0% | ||||||||||||
Core & Main LP, 2021 Term Loan B, (1 mo. LIBOR + 2.50%), 2.59%, 07/27/28 | 6,033 | 6,002,838 | ||||||||||
Filtration Group Corp. | ||||||||||||
2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.08%, 03/29/25 | 2,128 | 2,116,003 | ||||||||||
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 03/29/25 | 1,272 | 1,273,695 | ||||||||||
Forterra Finance LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 10/25/23 | 1,000 | 999,834 | ||||||||||
Tamko Building Products, Inc., Term Loan B, (2 mo. LIBOR + 3.00%), 3.10%, 06/01/26 | 772 | 767,266 | ||||||||||
|
| |||||||||||
11,159,636 | ||||||||||||
Containers & Packaging — 1.9% | ||||||||||||
BWAY Holding Co., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 3.33%, 04/03/24 | 2,236 | 2,188,306 | ||||||||||
Charter NEX US, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/01/27 | 3,794 | 3,800,544 | ||||||||||
Flex Acquisition Co., Inc., 2021 Term Loan, (3 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 02/23/28 | 1,938 | 1,933,216 | ||||||||||
Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 4.08%, 07/31/26 | 547 | 547,702 | ||||||||||
Tosca Services LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/18/27 | 730 | 727,664 | ||||||||||
Trident TPI Holdings, Inc.(m) | ||||||||||||
2021 Delayed Draw Term Loan, 09/15/28 | 127 | 127,144 | ||||||||||
2021 Incremental Term Loan, 09/15/28 | 895 | 896,369 | ||||||||||
|
| |||||||||||
10,220,945 | ||||||||||||
Distributors — 0.9% | ||||||||||||
American Builders & Contractors Supply Co., Inc., | ||||||||||||
2019 Term Loan, (1 mo. LIBOR + 2.00%), 2.08%, 01/15/27 | 1,305 | 1,295,992 | ||||||||||
TMK Hawk Parent Corp. | ||||||||||||
2020 Super Priority First Out Term Loan A, (1 mo. LIBOR + 9.50%, 1.00% Floor), 10.50%, 05/30/24(c) | 996 | 975,922 | ||||||||||
2020 Super Priority Second Out Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 08/28/24 | 3,262 | 2,876,261 | ||||||||||
|
| |||||||||||
5,148,175 | ||||||||||||
Diversified Consumer Services — 2.5% | ||||||||||||
Ascend Learning LLC | ||||||||||||
2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 07/12/24 | 305 | 304,116 | ||||||||||
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 07/12/24 | 982 | 982,571 |
SCHEDULE OF INVESTMENTS | 14 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Diversified Consumer Services (continued) | ||||||||||||
Bright Horizons Family Solutions LLC, 2017 Term Loan B, (1 mo. LIBOR + 1.75%, 0.75% Floor), 2.50%, 11/07/23 | USD | 1,753 | $ | 1,745,876 | ||||||||
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 3.83%, 07/11/25 | 2,988 | 2,956,919 | ||||||||||
Midas Intermediate Holdco II LLC, 2020 Term Loan B, (3 mo. LIBOR + 7.75%, 0.75% Floor), 8.50%, 12/22/25 | 2,706 | 2,571,151 | ||||||||||
Nomad Foods Europe Midco Ltd., 2017 USD Term Loan B4, (3 mo. LIBOR + 2.25%), 2.37%, 05/15/24 | 1,109 | 1,103,653 | ||||||||||
PAI Holdco, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 10/28/27 | 428 | 428,030 | ||||||||||
Serta Simmons Bedding LLC | ||||||||||||
2020 Super Priority First Out Term Loan, (1 mo. LIBOR + 7.50%), 8.50%, 08/10/23 | 418 | 420,961 | ||||||||||
2020 Super Priority Second Out Term Loan, (1 mo. LIBOR + 7.50%, 1.00% Floor), 8.50%, 08/10/23 | 856 | 812,308 | ||||||||||
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR + 4.50%, 0.50% Floor), 5.00%, 01/15/27 | 1,679 | 1,683,271 | ||||||||||
Voyage Australia Pty Ltd., USD Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 07/20/28 | 659 | 658,176 | ||||||||||
|
| |||||||||||
13,667,032 | ||||||||||||
Diversified Financial Services — 7.7% | ||||||||||||
Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 4.58%, 07/31/26 | 1,248 | 1,248,818 | ||||||||||
Alchemy Copyrights LLC, Term Loan B, (1 mo. LIBOR + 3.00%, 0.50% Floor), 3.50%, 03/10/28(c) | 755 | 755,384 | ||||||||||
AlixPartners LLP, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%, 0.50% Floor), 3.25%, 02/04/28 | 1,543 | 1,538,488 | ||||||||||
AQGEN Island Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 08/02/28 | 2,489 | 2,480,712 | ||||||||||
Belron Finance US LLC, 2021 USD Term Loan B, (3 mo. LIBOR + 2.75%, 0.50% Floor), 3.25%, 04/13/28 | 1,733 | 1,728,700 | ||||||||||
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.50%, 0.50% Floor), 3.00%, 09/01/28 | 2,826 | 2,807,151 | ||||||||||
Delta TopCo, Inc. | ||||||||||||
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.00%, 12/01/28 | 595 | 599,213 | ||||||||||
2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/01/27 | 3,262 | 3,264,141 | ||||||||||
EG Finco Ltd., 2018 Term Loan, (3 mo. LIBOR + 4.00%), 4.13%, 02/07/25 | 1,152 | 1,147,576 | ||||||||||
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (1 Week LIBOR + 4.00%, 0.50% Floor), 4.50%, 02/16/28 | 760 | 762,402 | ||||||||||
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 07/03/24(c) | 1,332 | 1,328,192 | ||||||||||
KKR Apple Bidco LLC(m) | 218 | 221,135 |
Security | Par (000) | Value | ||||||||||
Diversified Financial Services (continued) | ||||||||||||
KKR Apple Bidco LLC(m) (continued) |
| |||||||||||
2021 Term Loan, 09/22/28 | USD | 534 | $ | 534,379 | ||||||||
LBM Acquisition LLC | ||||||||||||
2021 Incremental Delayed Draw Term Loan B2, 12/17/27(m) | 585 | 579,546 | ||||||||||
2021 Incremental Term Loan B2, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/17/27 | 1,168 | 1,157,271 | ||||||||||
Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/17/27 | 1,033 | 1,022,737 | ||||||||||
LEB Holdings (USA), Inc, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 11/02/27 | . | 901 | 902,842 | |||||||||
Milano Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/01/27 | 4,311 | 4,317,210 | ||||||||||
RV Retailer LLC, Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 02/08/28 | 826 | 823,785 | ||||||||||
SMG US Midco 2, Inc., 2020 Term Loan, (1 mo. LIBOR + 2.50%), 2.63%, 01/23/25 | 1,721 | 1,689,033 | ||||||||||
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 4.38%, 07/30/25 | . | 2,055 | 1,994,850 | |||||||||
Veritas US, Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 6.00%, 09/01/25 | 6,642 | 6,665,033 | ||||||||||
VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 3.08%, 02/28/27(c) | 1,312 | 1,310,666 | ||||||||||
White Cap Buyer LLC, Term Loan B, (1 mo. LIBOR + 4.00%, 0.50% Floor), 4.50%, 10/19/27 | 1,103 | 1,105,171 | ||||||||||
Ziggo Financing Partnership, USD Term Loan I, (1 mo. LIBOR + 2.50%), 2.58%, 04/30/28 | 1,876 | 1,860,373 | ||||||||||
|
| |||||||||||
41,844,808 | ||||||||||||
Diversified Telecommunication Services — 2.7% | ||||||||||||
Cablevision Lightpath LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 11/30/27 | 506 | 506,555 | ||||||||||
ConnectWise LLC, 2021 Term Loan B, 09/29/28(m) |
| 898 | 895,755 | |||||||||
Consolidated Communications, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 10/02/27 | 713 | 712,911 | ||||||||||
Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 05/01/28 | 1,775 | 1,771,318 | ||||||||||
GCI LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 10/15/25 | 1,094 | 1,091,690 | ||||||||||
Intelsat Jackson Holdings SA | ||||||||||||
2017 Term Loan B3, (PRIME + 4.75%), 8.00%, 11/27/23 | 455 | 460,037 | ||||||||||
2021 DIP Term Loan, (3 mo. LIBOR + 4.75%, 1.00% Floor), 3.60%, 10/13/22 | 180 | 180,595 | ||||||||||
Iridium Satellite LLC, 2021 Term Loan B2, (1 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 11/04/26 | . | 1,710 | 1,711,118 | |||||||||
Level 3 Financing, Inc., 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 1.83%, 03/01/27 | 1,676 | 1,655,104 | ||||||||||
Meridian Adhesives Group, Inc., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 07/24/28 | 1,318 | 1,314,705 |
15
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Diversified Telecommunication Services (continued) | ||||||||||||
MTN Infrastructure TopCo, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 11/15/24 | USD | 2,316 | $ | 2,309,021 | ||||||||
Virgin Media SFA Finance Ltd., GBP Term Loan L, (LIBOR - GBP + 3.25%), 3.30%, 01/15/27 | GBP | 1,400 | 1,858,706 | |||||||||
|
| |||||||||||
14,467,515 | ||||||||||||
Electric Utilities — 0.9% | ||||||||||||
ExGen Renewables IV LLC, 2020 Term Loan, (3 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 12/15/27 | USD | 1,176 | 1,174,458 | |||||||||
Triton Water Holdings, Inc, Term Loan, (3 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 03/31/28 | 3,997 | 3,989,508 | ||||||||||
|
| |||||||||||
5,163,966 | ||||||||||||
Electrical Equipment — 0.5% | ||||||||||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 06/23/28(c) | 762 | 762,000 | ||||||||||
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 03/31/27 | 2,163 | 2,157,962 | ||||||||||
|
| |||||||||||
2,919,962 | ||||||||||||
Energy Equipment & Services — 0.2% | ||||||||||||
Dell International LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%), 2.00%, 09/19/25 | 114 | 113,955 | ||||||||||
New Arclin U.S. Holding Corp., 2021 2nd Lien Term Loan, 09/30/29(c)(m) | 815 | 808,888 | ||||||||||
|
| |||||||||||
922,843 | ||||||||||||
Entertainment — 0.3% | ||||||||||||
MSG National Properties LLC, Term Loan, (3 mo. LIBOR + 6.25%, 0.75% Floor), 7.00%, 11/12/25(c) | 1,746 | 1,785,088 | ||||||||||
|
| |||||||||||
Environmental, Maintenance, & Security Service — 0.5% | ||||||||||||
Asplundh Tree Expert LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%), 1.83%, 09/07/27 | 1,757 | 1,750,415 | ||||||||||
TruGreen Limited Partnership, 2020 Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 11/02/27 | 1,081 | 1,080,694 | ||||||||||
|
| |||||||||||
2,831,109 | ||||||||||||
Food & Staples Retailing — 0.8% | ||||||||||||
H Food Holdings LLC, 2018 Incremental Term Loan B2, (1 mo. LIBOR + 4.00%), 4.08%, 05/23/25 | 653 | 652,997 | ||||||||||
Hearthside Food Solutions LLC, 2020 Incremental Term Loan B3, (1 mo. LIBOR + 5.00%, 1.00% Floor), 6.00%, 05/23/25 | 178 | 177,627 | ||||||||||
US Foods, Inc. | ||||||||||||
2016 Term Loan B, (1 mo. LIBOR + 1.75%), 1.83%, 06/27/23 | 2,556 | 2,540,217 | ||||||||||
2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.08%, 09/13/26 | 741 | 730,712 | ||||||||||
|
| |||||||||||
4,101,553 | ||||||||||||
Food Products — 2.3% | ||||||||||||
8th Avenue Food & Provisions, Inc. | ||||||||||||
2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 3.84%, 10/01/25 | 1,105 | 1,089,599 |
Security | Par (000) | Value | ||||||||||
Food Products (continued) | ||||||||||||
8th Avenue Food & Provisions, Inc. (continued) |
| |||||||||||
2021 Incremental Term Loan, (1 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 10/01/25(c) | USD | 1,352 | $ | 1,341,523 | ||||||||
B&G Foods, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 2.58%, 10/10/26 | 415 | 414,420 | ||||||||||
Chobani LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 10/20/27 | 2,746 | 2,750,187 | ||||||||||
Froneri International Ltd., 2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 2.33%, 01/29/27 | 3,297 | 3,255,607 | ||||||||||
Reynolds Group Holdings, Inc., 2020 Term Loan B2, (1 mo. LIBOR + 3.25%), 3.33%, 02/05/26 | 1,693 | 1,680,568 | ||||||||||
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 06/08/28 | 1,455 | 1,455,317 | ||||||||||
UTZ Quality Foods LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 3.08%, 01/20/28 | 610 | 609,450 | ||||||||||
|
| |||||||||||
12,596,671 | ||||||||||||
Health Care Equipment & Supplies — 0.7% | ||||||||||||
Insulet Corp., Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 05/04/28 | 683 | 684,429 | ||||||||||
Ortho-Clinical Diagnostics SA | ||||||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.08%, 06/30/25 | 2,034 | 2,031,811 | ||||||||||
EUR Term Loan B, (EURIBOR + 3.50%), 3.50%, 06/30/25 | EUR | 952 | 1,101,901 | |||||||||
|
| |||||||||||
3,818,141 | ||||||||||||
Health Care Providers & Services — 3.0% | ||||||||||||
CCRR Parent, Inc, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 03/06/28(c) | USD | 1,184 | 1,187,010 | |||||||||
CHG Healthcare Services, Inc., 2021 Term Loan, 09/29/28(m) | 910 | 910,974 | ||||||||||
Da Vinci Purchaser Corp., 2019 Term Loan, (1 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 01/08/27 | 1,256 | 1,259,940 | ||||||||||
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 3.83%, 10/10/25 | 1,714 | 1,521,065 | ||||||||||
EyeCare Partners LLC | ||||||||||||
2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%), 8.38%, 02/18/28(c) | 1,460 | 1,452,700 | ||||||||||
2020 Term Loan, (3 mo. LIBOR + 3.75%), 3.88%, 02/18/27 | 1,959 | 1,946,617 | ||||||||||
Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.50%), 4.63%, 03/05/26 | 939 | 881,829 | ||||||||||
HC Group Holdings II, Inc., Term Loan B, (1 mo. LIBOR + 3.75%), 3.83%, 08/06/26 | 4,345 | 4,342,929 | ||||||||||
Orbcomm, Inc., Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 09/01/28 | 647 | 645,919 | ||||||||||
PetVet Care Centers LLC, 2021 Term Loan B3, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 02/14/25 | 47 | 46,629 | ||||||||||
Sotera Health Holdings LLC, 2021 Term Loan, (1 mo. LIBOR + 2.75%, 0.50% Floor), 3.25%, 12/11/26 | 2,247 | 2,239,517 | ||||||||||
|
| |||||||||||
16,435,129 |
SCHEDULE OF INVESTMENTS | 16 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Health Care Services — 1.2% | ||||||||||||
Azalea Topco, Inc., Term Loan, (1 mo. LIBOR + 3.50%), 3.63%, 07/24/26 | USD | 2,394 | $ | 2,377,031 | ||||||||
Medical Solutions LLC, 2021 2nd Lien Term Loan, 10/01/29(m) | 627 | 620,730 | ||||||||||
Unified Physician Management LLC, 2020 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 12/16/27 | 1,647 | 1,647,656 | ||||||||||
WP CityMD Bidco LLC, 2021 Term Loan B, (6 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 08/13/26 | 1,877 | 1,882,387 | ||||||||||
|
| |||||||||||
6,527,804 | ||||||||||||
Health Care Technology — 2.8% | ||||||||||||
Athenahealth, Inc., 2021 Term Loan B1, (3 mo. LIBOR + 4.25%), 4.38%, 02/11/26 | 326 | 327,013 | ||||||||||
Change Healthcare Holdings, Inc., 2017 Term Loan B, (3 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 03/01/24 | 3,069 | 3,065,242 | ||||||||||
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 2.83%, 10/10/25 | 1,943 | 1,940,146 | ||||||||||
Polaris Newco LLC, USD Term Loan B, (6 mo. LIBOR + 4.00%, 0.50% Floor), 4.50%, 06/02/28 | 4,736 | 4,744,404 | ||||||||||
Press Ganey Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 07/24/26 | 2,340 | 2,342,568 | ||||||||||
Quintiles IMS, Inc., 2017 USD Term Loan B1, (1 mo. LIBOR + 1.75%), 1.83%, 03/07/24 | 266 | 265,354 | ||||||||||
Verscend Holdings Corp., 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 7.50%, 02/01/29(c) | 2,740 | 2,753,700 | ||||||||||
|
| |||||||||||
15,438,427 | ||||||||||||
Hotels, Restaurants & Leisure — 7.2% | ||||||||||||
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 1.84%, 11/19/26 | 2,743 | 2,707,559 | ||||||||||
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 3.83%, 02/02/26 | 492 | 483,187 | ||||||||||
Aristocrat Leisure Ltd., 2020 Incremental Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 10/19/24 | 878 | 882,005 | ||||||||||
Aristocrat Technologies, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 1.75%), 1.88%, 10/19/24 | . | 1,085 | 1,077,490 | |||||||||
Boyd Gaming Corp., Term Loan B3, (1 Week LIBOR + 2.25%), 2.32%, 09/15/23 | 1,073 | 1,071,739 | ||||||||||
Caesars Resort Collection LLC | ||||||||||||
2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 2.83%, 12/23/24 | 1,802 | 1,790,201 | ||||||||||
2020 Term Loan B1, (3 mo. LIBOR + 3.50%), 3.58%, 07/21/25 | 3,515 | 3,515,815 | ||||||||||
CCM Merger, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 11/04/25 | . | 1,187 | 1,186,538 | |||||||||
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1 mo. LIBOR + 2.00%), 2.09%, 03/10/28(c) | 692 | 685,595 | ||||||||||
ECL Entertainment LLC, Term Loan, (1 mo. LIBOR + 7.50%, 0.75% Floor), 8.50%, 03/31/28(c) | 818 | 836,354 | ||||||||||
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 03/08/24 | 4,190 | 3,872,896 | ||||||||||
Four Seasons Hotels Ltd., New 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 2.09%, 11/30/23 | 895 | 892,114 |
Security | Par (000) | Value | ||||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||||||
Golden Nugget LLC, 2017 Incremental Term Loan B, (2 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 10/04/23 | USD | 1,714 | $ | 1,705,109 | ||||||||
Golden Nugget, Inc., 2020 Initial Term Loan, (3 mo. LIBOR + 12.00%, 1.00% Floor), 13.00%, 10/04/23(c) | 201 | 217,317 | ||||||||||
IRB Holding Corp. | ||||||||||||
2020 Fourth Amendment Incremental Term Loan, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/15/27 | 3,259 | 3,262,971 | ||||||||||
2020 Term Loan B, (6 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 02/05/25 | 1,389 | 1,386,150 | ||||||||||
Playa Resorts Holding BV, 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 04/29/24 | 661 | 645,597 | ||||||||||
Playtika Holding Corp., 2021 Term Loan, (1 mo. LIBOR + 2.75%), 2.83%, 03/13/28 | 1,749 | 1,747,811 | ||||||||||
Scientific Games International, Inc., 2018 Term Loan B5, (1 mo. LIBOR + 2.75%), 2.83%, 08/14/24 | 1,135 | 1,129,613 | ||||||||||
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 2.25%), 3.63%, 07/21/26 | 1,058 | 1,054,192 | ||||||||||
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%), 2.50%, 02/08/27 | 1,984 | 1,963,486 | ||||||||||
Travelport Finance (Luxembourg) Sarl | ||||||||||||
2020 Super Priority Term Loan, (6.50% PIK), 3.50%, 02/28/25(j) | 1,550 | 1,606,501 | ||||||||||
2021 Consented Term Loan, (3 mo. LIBOR + 6.75%), 7.75%, 05/29/26. | 2,606 | 2,233,491 | ||||||||||
Twin River Worldwide Holdings, Inc., 2021 Term Loan B, 08/06/28(m) | 1,189 | 1,188,179 | ||||||||||
Whatabrands LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 08/03/28 | 2,006 | 2,003,031 | ||||||||||
|
| |||||||||||
39,144,941 | ||||||||||||
Household Durables — 0.9% | ||||||||||||
ACProducts Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.25%, 0.50% Floor), 4.75%, 05/17/28 | 3,082 | 3,074,129 | ||||||||||
Springs Windows Fashions LLC, 2021 Term Loan B, 10/06/28(m) | 729 | 723,081 | ||||||||||
Weber-Stephen Products LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 10/30/27 | 866 | 867,737 | ||||||||||
|
| |||||||||||
4,664,947 | ||||||||||||
Household Products — 0.1% | ||||||||||||
Spectrum Brands, Inc., 2021 Term Loan, (3 mo. LIBOR + 2.00%, 0.50% Floor), 2.50%, 03/03/28 | 478 | 476,205 | ||||||||||
|
| |||||||||||
Independent Power and Renewable Electricity Producers — 0.7% | ||||||||||||
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.08%, 01/15/25 | 664 | 655,411 | ||||||||||
Calpine Corp. | ||||||||||||
2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 2.08%, 08/12/26 | 1,053 | 1,040,017 | ||||||||||
Term Loan B9, (1 mo. LIBOR + 2.00%), 2.09%, 04/05/26 | 1,908 | 1,885,431 | ||||||||||
|
| |||||||||||
3,580,859 |
17
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Industrial Conglomerates — 2.5% | ||||||||||||
AVSC Holding Corp.(j) | ||||||||||||
2020 Term Loan B1, (0.25% PIK), 4.50%, 03/03/25 | USD | 3,647 | $ | 3,242,918 | ||||||||
2020 Term Loan B3, (10.00% PIK), 10.00%, 10/15/26 | 1,371 | 1,649,176 | ||||||||||
Medline Industries, Inc., USD Term Loan B, 09/20/28(m) | 1,933 | 1,928,767 | ||||||||||
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 7.75%, 11/28/23 | 1,426 | 1,445,623 | ||||||||||
Stitch Aquisition Corp., Term Loan B, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 07/28/28 | 968 | 905,883 | ||||||||||
Vertical US Newco, Inc., Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 07/29/27 | 1,695 | 1,697,300 | ||||||||||
Vertiv Group Corp., 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 2.83%, 03/02/27 | 2,608 | 2,590,324 | ||||||||||
|
| |||||||||||
13,459,991 | ||||||||||||
Insurance — 3.1% | ||||||||||||
Alliant Holdings Intermediate LLC | ||||||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.33%, 05/09/25 | 2,421 | 2,403,336 | ||||||||||
2020 Term Loan B3, (1 mo. LIBOR + 3.75%, 0.50% Floor), 4.25%, 11/05/27 | 1,320 | 1,320,250 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.25%), 3.33%, 05/09/25 | 1,181 | 1,171,253 | ||||||||||
AmWINS Group, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 02/19/28 | 2,992 | 2,972,998 | ||||||||||
AssuredPartners, Inc. | ||||||||||||
2020 Term Loan B, (1 mo. LIBOR + 3.50%), 3.58%, 02/12/27 | 1,298 | 1,289,039 | ||||||||||
2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 02/12/27 | 773 | 772,120 | ||||||||||
HUB International Ltd. | ||||||||||||
2018 Term Loan B, (3 mo. LIBOR + 2.75%), 2.88%, 04/25/25 | 2,369 | 2,345,500 | ||||||||||
2021 Term Loan B, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 04/25/25 | 1,409 | 1,409,216 | ||||||||||
NFP Corp., 2020 Term Loan, 02/15/27(m) | 165 | 162,760 | ||||||||||
Ryan Specialty Group LLC, Term Loan, (1 mo. LIBOR + 3.00%), 3.75%, 09/01/27 | 1,019 | 1,017,647 | ||||||||||
Sedgwick Claims Management Services, Inc. | ||||||||||||
2019 Term Loan B, (1 mo. LIBOR + 3.75%), 3.83%, 09/03/26 | 1,364 | 1,359,268 | ||||||||||
2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 09/03/26 | 737 | 738,049 | ||||||||||
|
| |||||||||||
16,961,436 | ||||||||||||
Interactive Media & Services — 2.6% | ||||||||||||
Adevinta ASA, USD Term Loan B, 06/26/28 | 2,213 | 2,212,771 | ||||||||||
Arches Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 12/06/27 | 2,118 | 2,106,092 | ||||||||||
Camelot Finance SA, 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 10/30/26 | 2,986 | 2,991,978 |
Security | Par (000) | Value | ||||||||||
Interactive Media & Services (continued) | ||||||||||||
Go Daddy Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.08%, 08/10/27 | USD | 1,708 | $ | 1,693,411 | ||||||||
Grab Holdings, Inc., Term Loan B, (6 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 01/29/26 | 5,112 | 5,154,968 | ||||||||||
|
| |||||||||||
14,159,220 | ||||||||||||
Internet & Direct Marketing Retail — 0.5% | ||||||||||||
CNT Holdings I Corp., 2020 Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 11/08/27 | . | 2,416 | 2,417,382 | |||||||||
PUG LLC, 2021 Incremental Term Loan B, (1 mo. LIBOR + 4.25%, 0.50% Floor), 4.75%, 02/12/27(c) | 327 | 326,591 | ||||||||||
|
| |||||||||||
2,743,973 | ||||||||||||
Internet Software & Services — 0.4% | ||||||||||||
Uber Technologies, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%), 3.58%, 02/25/27 | 2,406 | 2,403,892 | ||||||||||
|
| |||||||||||
IT Services — 6.4% | ||||||||||||
Aruba Investments, Inc. | ||||||||||||
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.75%, 0.75% Floor), 8.50%, 11/24/28 | 1,275 | 1,278,188 | ||||||||||
2020 USD Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 11/24/27 | 687 | 687,408 | ||||||||||
Banff Merger Sub, Inc., 2021 USD Term Loan, (3 mo. LIBOR + 3.75%), 3.88%, 10/02/25 | 2,046 | 2,033,317 | ||||||||||
Camelot Finance SA, Term Loan B, (1 mo. LIBOR + 3.00%), 3.08%, 10/30/26 | 3,330 | 3,320,021 | ||||||||||
CCC Intelligent Solutions Inc., Term Loan B, (3 mo. LIBOR + 2.50%, 0.50% Floor), 3.00%, 09/21/28 | 1,492 | 1,490,135 | ||||||||||
Celestial -Saturn Parent, Inc., 2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 0.50% Floor), 7.00%, 06/04/29(c) | 1,120 | 1,142,400 | ||||||||||
CoreLogic, Inc., Term Loan, (1 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 06/02/28 | 3,280 | 3,275,900 | ||||||||||
Fleetcor Technologies Operating Company LLC, 2021 Term Loan B4, (1 mo. LIBOR + 1.75%), 1.83%, 04/28/28 | 1,506 | 1,501,390 | ||||||||||
Greeneden US Holdings II LLC, 2020 USD Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 12/01/27 | 5,075 | 5,090,939 | ||||||||||
GreenSky Holdings LLC, 2020 Term Loan B2, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 03/29/25(c) | 1,372 | 1,365,279 | ||||||||||
Optiv Security, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 02/01/24 | 895 | 882,231 | ||||||||||
Peak 10 Holding Corp., 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%), 7.33%, 08/01/25 | 1,121 | 1,028,047 | ||||||||||
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 3.58%, 02/12/27 | 2,254 | 2,202,161 | ||||||||||
Sophia LP, 2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.00%, 1.00% Floor), 9.00%, 10/09/28 | 3,730 | 3,844,250 | ||||||||||
TierPoint LLC, 2021 Term Loan, (1 mo. LIBOR + 3.75%), 4.50%, 05/05/26 | 862 | 862,792 | ||||||||||
Trans Union LLC, 2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 1.83%, 11/16/26 | 1,660 | 1,648,933 | ||||||||||
Virtusa Corp. | ||||||||||||
1st Lien Term Loan B, 7.13%, 12/15/28 | 934 | 934,305 | ||||||||||
Term Loan B, 02/11/28(m) | 934 | 935,239 |
SCHEDULE OF INVESTMENTS | 18 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
IT Services (continued) | ||||||||||||
WEX, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.25%), 2.33%, 03/31/28 | USD | 870 | $ | 865,526 | ||||||||
ZoomInfo LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 3.08%, 02/02/26 | 192 | 192,000 | ||||||||||
|
| |||||||||||
34,580,461 | ||||||||||||
Leisure Products — 0.1% | ||||||||||||
MND Holdings III Corp., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 06/19/24 | 776 | 747,701 | ||||||||||
|
| |||||||||||
Life Sciences Tools & Services — 3.1% | ||||||||||||
Avantor Funding, Inc., 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.50%, 11/21/24 | 591 | 587,566 | ||||||||||
Avantor, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.25%, 0.50% Floor), 2.75%, 11/08/27 | 1,834 | 1,836,077 | ||||||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 02/04/27 | 4,021 | 4,038,638 | ||||||||||
ICON Luxembourg Sarl | ||||||||||||
LUX Term Loan, (3 mo. LIBOR + 2.50%, 0.50% Floor), 3.00%, 07/03/28 | 2,602 | 2,609,987 | ||||||||||
US Term Loan, (3 mo. LIBOR + 2.50%, 0.50% Floor), 3.00%, 07/03/28 | 648 | 650,282 | ||||||||||
Maravai Intermediate Holdings LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 10/19/27 | 1,095 | 1,097,374 | ||||||||||
Parexel International Corp., 2021 1st Lien Term Loan, 08/11/28(m) | 1,932 | 1,932,309 | ||||||||||
PPD, Inc., Initial Term Loan, (1 mo. LIBOR + 2.00%, 0.50% Floor), 2.50%, 01/13/28 | 3,915 | 3,907,181 | ||||||||||
|
| |||||||||||
16,659,414 | ||||||||||||
Machinery — 2.5% | ||||||||||||
Clark Equipment Co., 2021 Incremental Term Loan, (3 mo. LIBOR + 2.25%), 2.38%, 05/18/24 | 1,203 | 1,200,705 | ||||||||||
Columbus McKinnon Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.25%, 05/14/28(c) | 377 | 375,388 | ||||||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1 mo. LIBOR + 1.75%), 1.83%, 03/01/27 | 2,508 | 2,472,733 | ||||||||||
Madison IAQ LLC, Term Loan, (3 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 06/21/28 | 3,645 | 3,638,778 | ||||||||||
Rexnord LLC, 2021 Term Loan B, 10/04/28(m) | 112 | 111,972 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 3.17%, 03/28/25 | 6,007 | 5,893,507 | ||||||||||
|
| |||||||||||
13,693,083 | ||||||||||||
Media — 11.8% | ||||||||||||
Altice Financing SA | ||||||||||||
2017 USD Term Loan B, (1 mo. LIBOR + 2.75%), 2.88%, 07/15/25 | 655 | 643,503 | ||||||||||
USD 2017 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 2.90%, 01/31/26 | 1,745 | 1,713,499 | ||||||||||
Altice France SA, 2018 Term Loan B13, (3 mo. LIBOR + 4.00%), 4.12%, 08/14/26 | 2,810 | 2,797,861 | ||||||||||
Cable One, Inc., 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.08%, 05/03/28 | 436 | 432,773 | ||||||||||
Charter Communications Operating LLC, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 1.84%, 04/30/25 | 2,601 | 2,597,278 |
Security | Par (000) | Value | ||||||||||
Media (continued) | ||||||||||||
City Football Group Ltd., Term Loan, (3 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 07/21/28(c) | USD | 1,407 | $ | 1,399,965 | ||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 3.63%, 08/21/26 | 5,802 | 5,677,124 | ||||||||||
Connect Finco Sarl, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 12/11/26 | . | 9,038 | 9,040,803 | |||||||||
CSC Holdings LLC | ||||||||||||
2017 Term Loan B1, (1 mo. LIBOR + 2.25%), 2.33%, 07/17/25 | 584 | 574,710 | ||||||||||
2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 2.58%, 04/15/27 | 1,961 | 1,936,122 | ||||||||||
E.W. Scripps Co., 2020 Term Loan B3, (1 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 01/07/28 | 795 | 795,735 | ||||||||||
Learfield Communications LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/01/23 | 2,285 | 2,189,176 | ||||||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 2.33%, 03/24/25 | 1,543 | 1,528,555 | ||||||||||
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. LIBOR + 1.75%), 1.88%, 10/17/26 | 2,279 | 2,220,556 | ||||||||||
MH Sub I LLC | ||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 3.58%, 09/13/24 | 4,208 | 4,193,857 | ||||||||||
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 09/13/24 | 2,274 | 2,278,553 | ||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 6.34%, 02/12/29 | 1,095 | 1,110,396 | ||||||||||
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 2.59%, 09/18/26 | 1,544 | 1,541,998 | ||||||||||
Radiate Holdco LLC, 2020 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 09/25/26 | 2,189 | 2,186,264 | ||||||||||
Terrier Media Buyer, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%), 3.58%, 12/17/26 | — | (n) | 208 | |||||||||
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 09/28/23(c) | 4,338 | 4,327,281 | ||||||||||
Trader Interactive LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.00%, 0.50% Floor), 4.50%, 07/28/28(c) | 523 | 521,692 | ||||||||||
UPC Financing Partnership, 2021 USD Term Loan AX, (1 mo. LIBOR + 3.00%), 3.08%, 01/31/29 | 509 | 507,198 | ||||||||||
Virgin Media Bristol LLC | ||||||||||||
2020 USD Term Loan Q, (1 mo. LIBOR + 3.25%), 3.33%, 01/31/29 | 2,097 | 2,096,413 | ||||||||||
USD Term Loan N, (1 mo. LIBOR + 2.50%), 2.58%, 01/31/28 | 2,578 | 2,559,877 | ||||||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 2.84%, 05/18/25 | 3,130 | 3,063,565 | ||||||||||
WMG Acquisition Corp., 2021 Term Loan G, (1 mo. LIBOR + 2.12%), 2.21%, 01/20/28 | 591 | 587,573 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 3.08%, 03/09/27 | 5,890 | 5,835,144 | ||||||||||
|
| |||||||||||
64,357,679 | ||||||||||||
Metals & Mining — 0.4% | ||||||||||||
Ball Metalpack LLC, 2018 1st Lien Term Loan B, (3 mo. LIBOR + 4.50%), 4.62%, 07/31/25 | 2,034 | 2,030,091 | ||||||||||
|
| |||||||||||
Oil, Gas & Consumable Fuels — 0.7% | ||||||||||||
Ascent Resources Utica LLC, 2020 Fixed 2nd Lien Term Loan, 11/01/25 | 474 | 518,457 |
19
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 3.83%, 12/13/25 | USD | 1,658 | $ | 1,577,696 | ||||||||
EG Group Ltd., 2018 USD Term Loan B, (3 mo. LIBOR + 4.00%), 4.13%, 02/07/25 | 714 | 711,308 | ||||||||||
Lealand Finance Company BV, 2020 Take Back Term Loan, (3.00% PIK), 3.00%, 06/30/25(j) | 330 | 147,476 | ||||||||||
McDermott Technology Americas, Inc., 2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 3.08%, 06/30/24(c) | 46 | 25,313 | ||||||||||
Murphy USA, Inc., Term Loan B, (1 mo. LIBOR + 1.75%, 0.50% Floor), 2.25%, 01/31/28 | 573 | 572,565 | ||||||||||
|
| |||||||||||
3,552,815 | ||||||||||||
Personal Products — 1.3% | ||||||||||||
Prestige Brands, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.00%, 0.50% Floor), 2.50%, 07/03/28 | 448 | 447,230 | ||||||||||
Sunshine Luxembourg VII Sarl, 2021 Term Loan B3, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 10/01/26 | 6,440 | 6,456,216 | ||||||||||
|
| |||||||||||
6,903,446 | ||||||||||||
Pharmaceuticals — 2.8% | ||||||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 3.63%, 05/04/25 | 2,252 | 2,218,877 | ||||||||||
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1 mo. LIBOR + 2.00%, 0.50% Floor), 2.50%, 02/22/28 | 2,317 | 2,316,813 | ||||||||||
Elanco Animal Health, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 1.84%, 08/01/27 | 933 | 916,543 | ||||||||||
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 Week LIBOR + 2.00%), 2.07%, 11/15/27 | 1,871 | 1,839,634 | ||||||||||
Jazz Financing Lux Sarl, USD Term Loan, (1 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 05/05/28 | 2,232 | 2,233,929 | ||||||||||
Organon Finance 1 LLC, USD Term Loan, (3 mo. LIBOR + 3.00%, 0.50% Floor), 3.50%, 06/02/28 | 1,457 | 1,459,694 | ||||||||||
Precision Medicine Group LLC, 2021 Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 11/18/27 | 1,158 | 1,157,617 | ||||||||||
Valeant Pharmaceuticals International, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.08%, 06/02/25 | 3,049 | 3,044,609 | ||||||||||
|
| |||||||||||
15,187,716 | ||||||||||||
Professional Services — 1.0% | ||||||||||||
Dun & Bradstreet Corp., Term Loan, (1 mo. LIBOR + 3.25%), 3.34%, 02/06/26 | 5,426 | 5,418,876 | ||||||||||
|
| |||||||||||
Real Estate Management & Development — 0.2% | ||||||||||||
Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 2.83%, 08/21/25 | 1,301 | 1,288,272 | ||||||||||
|
| |||||||||||
Road & Rail — 0.4% | ||||||||||||
Moda Ingleside Energy Center LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.33%, 09/29/25 | 863 | 860,718 | ||||||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 5.50%), 5.58%, 08/04/25 | 1,382 | 1,300,501 | ||||||||||
|
| |||||||||||
2,161,219 |
Security | Par (000) | Value | ||||||||||
Semiconductors & Semiconductor Equipment — 0.0% | ||||||||||||
ON Semiconductor Corp., 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.08%, 09/19/26 | USD | — | (n) | $ | 31 | |||||||
|
| |||||||||||
Software — 15.7% | ||||||||||||
2U, Inc., Term Loan, (3 mo. LIBOR + 5.75%), 6.50%, 11/30/24 | 1,274 | 1,289,730 | ||||||||||
Applied Systems, Inc. | ||||||||||||
2017 1st Lien Term Loan, (3 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 09/19/24 | 437 | 436,546 | ||||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.50%, 0.75% Floor), 6.25%, 09/19/25 | 630 | 637,535 | ||||||||||
Barracuda Networks, Inc. | ||||||||||||
1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/12/25 | 2,684 | 2,690,684 | ||||||||||
2020 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 10/30/28 | 771 | 779,435 | ||||||||||
Cloudera, Inc. | ||||||||||||
2021 2nd Lien Term Loan, 08/10/29(c)(m) | 1,304 | 1,297,480 | ||||||||||
2021 Term Loan, 08/10/28(m) | 3,634 | 3,627,204 | ||||||||||
Term Loan B, (1 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 12/22/27 | 864 | 862,580 | ||||||||||
Cornerstone OnDemand, Inc. | ||||||||||||
2021 Term Loan, 09/21/28(m) | 1,058 | 1,055,355 | ||||||||||
2021 Term Loan B, (1 mo. LIBOR + 3.25%), 3.33%, 04/22/27 | 893 | 891,357 | ||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (6 mo. LIBOR + 3.25%), 3.43%, 05/28/24 | 568 | 547,373 | ||||||||||
DTI Holdco, Inc., 2018 Term Loan B, (3 mo. LIBOR + 4.75%, 1.00% Floor), 5.75%, 09/30/23 | 447 | 441,320 | ||||||||||
E2open LLC, 2020 Term Loan B, (3 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 02/04/28 | 253 | 252,843 | ||||||||||
Epicor Software Corp., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 8.75%, 07/31/28 | 1,886 | 1,935,507 | ||||||||||
Helios Software Holdings, Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 3.75%), 3.88%, 03/11/28 | 1,887 | 1,883,827 | ||||||||||
Informatica LLC | ||||||||||||
2020 USD 2nd Lien Term Loan, (Fixed + 7.12%), 7.13%, 02/25/25 | 1,914 | 1,938,882 | ||||||||||
2020 USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.33%, 02/25/27 | 6,547 | 6,522,024 | ||||||||||
IPS Corp.(m) | ||||||||||||
2021 2nd Lien Term Loan B, 09/21/29(c) | 919 | 909,810 | ||||||||||
2021 Delayed Draw Term Loan, 09/21/28 | 103 | 103,302 | ||||||||||
2021 Term Loan, 09/21/28 | 517 | 516,584 | ||||||||||
Magenta Buyer LLC | ||||||||||||
2021 USD 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 5.75%, 07/27/28 | 5,325 | 5,323,349 | ||||||||||
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%), 9.00%, 07/27/29(c) | 2,587 | 2,583,766 | ||||||||||
McAfee LLC, 2018 USD Term Loan B, (1 mo. LIBOR + 3.75%), 3.84%, 09/30/24 | 813 | 813,070 | ||||||||||
Mitchell International, Inc. | ||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.33%, 11/29/24 | 390 | 389,611 | ||||||||||
2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.33%, 12/01/25 | 1,218 | 1,215,398 | ||||||||||
2020 Add-On Term Loan, (1 mo. LIBOR + 4.25%, 0.50% Floor), 4.75%, 11/29/24 | 1,164 | 1,163,181 |
SCHEDULE OF INVESTMENTS | 20 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Software (continued) | ||||||||||||
Netsmart Technologies, Inc., 2020 Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/01/27 | USD | 1,390 | $ | 1,395,368 | ||||||||
Planview Parent, Inc. | ||||||||||||
2nd Lien Term Loan, (1 Week LIBOR + 7.25%, 0.75% Floor), 8.00%, 12/17/28 | 824 | 819,880 | ||||||||||
Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 12/17/27 | 1,908 | 1,911,529 | ||||||||||
Project Alpha Intermediate Holding, Inc., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 4.09%, 04/26/24 | 1,357 | 1,355,540 | ||||||||||
Proof Point, Inc., 2nd Lien Term Loan, (3 mo. LIBOR + 6.25%, 0.50% Floor), 6.75%, 08/31/29(c) | 1,281 | 1,293,810 | ||||||||||
Proofpoint, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 08/31/28 | 2,453 | 2,439,508 | ||||||||||
RealPage, Inc. | ||||||||||||
1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 04/24/28 | 5,552 | 5,532,718 | ||||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 0.75% Floor), 7.25%, 04/22/29 | 2,629 | 2,681,666 | ||||||||||
Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.33%, 05/30/25 | 585 | 579,987 | ||||||||||
Severin Acquisition LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.34%, 08/01/25 | 3,504 | 3,483,097 | ||||||||||
Sophia LP, 2020 1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 10/07/27 | 4,543 | 4,557,800 | ||||||||||
SS&C Technologies Holdings Europe Sarl, 2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 1.83%, 04/16/25 | 333 | 329,475 | ||||||||||
SS&C Technologies, Inc. | ||||||||||||
2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 1.83%, 04/16/25 | 440 | 435,390 | ||||||||||
2018 Term Loan B5, (1 mo. LIBOR + 1.75%), 1.83%, 04/16/25 | 1,734 | 1,717,213 | ||||||||||
Tempo Acquisition LLC | ||||||||||||
2020 Extended Term Loan, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 11/02/26 | 4,720 | 4,727,373 | ||||||||||
2021 Term Loan B, (1 mo. LIBOR + 3.00%, 0.50% Floor), 3.50%, 08/31/28 | 441 | 441,366 | ||||||||||
Tibco Software, Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.34%, 03/03/28 | 2,577 | 2,601,299 | ||||||||||
Ultimate Software Group, Inc. | ||||||||||||
2020 2nd Lien Incremental Term Loan, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 05/03/27 | 1,767 | 1,794,972 | ||||||||||
2021 Incremental Term Loan, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 05/04/26 | 3,843 | 3,848,598 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.75%), 3.83%, 05/04/26 | 3,469 | 3,473,907 | ||||||||||
|
| |||||||||||
85,528,249 | ||||||||||||
Specialty Retail — 2.9% | ||||||||||||
Belron Finance US LLC | ||||||||||||
2018 Term Loan B, (3 mo. LIBOR + 2.25%), 2.38%, 11/13/25 | 1,993 | 1,981,035 | ||||||||||
2019 USD Term Loan B, (3 mo. LIBOR + 2.25%), 2.44%, 10/30/26 | 1,143 | 1,135,152 |
Security | Par (000) | Value | ||||||||||
Specialty Retail (continued) | ||||||||||||
EG Group Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.25%, 0.50% Floor), 4.75%, 03/31/26 | USD | 504 | $ | 503,821 | ||||||||
Mavis Tire Express Services Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 05/04/28 | 2,677 | 2,682,163 | ||||||||||
MED ParentCo LP, 1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 4.33%, 08/31/26 | 1,861 | 1,855,942 | ||||||||||
PetSmart, Inc., 2021 Term Loan B, (6 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28 | 4,705 | 4,711,928 | ||||||||||
Pilot Travel Centers LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.00%), 2.08%, 07/28/28 | 846 | 842,980 | ||||||||||
Research Now Group, Inc., 2017 1st Lien Term Loan, (6 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 12/20/24 | 1,090 | 1,076,226 | ||||||||||
Woof Holdings, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/21/27 | 489 | 488,853 | ||||||||||
WOOF Holdings, Inc., 2nd Lien Term Loan, (6 mo. LIBOR + 7.25%, 0.75% Floor), 8.00%, 12/21/28 | 495 | 499,024 | ||||||||||
|
| |||||||||||
15,777,124 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.4% | ||||||||||||
Electronics for Imaging, Inc., Term Loan, (1 mo. LIBOR + 5.00%), 5.08%, 07/23/26 | 1,600 | 1,507,351 | ||||||||||
Western Digital Corp., 2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 1.84%, 04/29/23 | 569 | 568,794 | ||||||||||
|
| |||||||||||
2,076,145 | ||||||||||||
Trading Companies & Distributors — 0.6% | ||||||||||||
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.33%, 05/19/28 | 1,230 | 1,222,576 | ||||||||||
Foundation Building Materials Holding Company LLC, 2021 Term Loan, (3 mo. LIBOR + 7.00%, 1.00% Floor), 3.75%, 02/03/28 | 1,360 | 1,350,501 | ||||||||||
ION Trading Finance Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%), 4.92%, 04/01/28 | 603 | 603,171 | ||||||||||
|
| |||||||||||
3,176,248 | ||||||||||||
Transportation Infrastructure — 0.3% | ||||||||||||
First Student Bidco, Inc. | ||||||||||||
Term Loan B, (2 mo. LIBOR + 3.00%, 0.50% Floor), 3.50%, 07/21/28 | 1,140 | 1,133,056 | ||||||||||
Term Loan C, (3 mo. LIBOR + 3.00%, 0.50% Floor), 3.50%, 07/21/28 | 421 | 418,242 | ||||||||||
|
| |||||||||||
1,551,298 | ||||||||||||
Wireless Telecommunication Services — 1.3% | ||||||||||||
GOGO Intermediate Holdings LLC, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 04/30/28 | 976 | 976,582 | ||||||||||
Metronet Systems Holdings LLC, 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 05/26/28 | 630 | 630,611 |
21
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Wireless Telecommunication Services (continued) | ||||||||||||
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 1.84%, 04/11/25 | USD | 3,344 | $ | 3,310,430 | ||||||||
Xplornet Communications, Inc., 2020 Term Loan B, (1 mo. LIBOR + 4.75%), 4.84%, 06/10/27 | 2,136 | 2,133,368 | ||||||||||
|
| |||||||||||
7,050,991 | ||||||||||||
|
| |||||||||||
Total Floating Rate Loan Interests — 126.6% |
| 689,228,131 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Investment Companies | ||||||||||||
Equity Funds — 0.1% | ||||||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 4,875 | 471,510 | ||||||||||
|
| |||||||||||
Fixed Income Funds — 0.2% | ||||||||||||
Invesco Senior Loan ETF | 45,000 | 994,950 | ||||||||||
|
| |||||||||||
Total Investment Companies — 0.3% |
| 1,466,460 | ||||||||||
|
| |||||||||||
Benefical Interest (000) | ||||||||||||
Other Interests(o) |
| |||||||||||
IT Services(c) — 0.0% | ||||||||||||
Millennium Corp. | USD | 1,156 | — | |||||||||
Millennium Lender Claims | 1,084 | — | ||||||||||
|
| |||||||||||
Total Other Interests — 0.0% |
| — | ||||||||||
|
| |||||||||||
Par (000) | ||||||||||||
Preferred Securities |
| |||||||||||
Capital Trusts — 0.5%(h)(i) | ||||||||||||
Automobiles — 0.0% | ||||||||||||
General Motors Financial Co., Inc., Series C, 5.70% | USD | 50 | 57,563 | |||||||||
|
| |||||||||||
Banks — 0.1% | ||||||||||||
CaixaBank SA, 6.38%(a) | EUR | 200 | 250,165 | |||||||||
Wells Fargo & Co., Series U, 5.88% | USD | 193 | 215,100 | |||||||||
|
| |||||||||||
465,265 | ||||||||||||
Diversified Financial Services — 0.4% | ||||||||||||
Bank of America Corp. | ||||||||||||
Series AA, 6.10% | 9 | 10,036 | ||||||||||
Series X, 6.25% | 222 | 244,200 | ||||||||||
Barclays PLC, 4.38% | 200 | 199,860 | ||||||||||
HSBC Holdings PLC, 6.00% | 600 | 657,750 | ||||||||||
JPMorgan Chase & Co. | ||||||||||||
Series FF, 5.00% | 765 | 798,469 | ||||||||||
Series HH, 4.60% | 166 | 169,735 | ||||||||||
|
| |||||||||||
2,080,050 | ||||||||||||
Utilities — 0.0% | ||||||||||||
Electricite de France SA, 3.38%(a) | EUR | 200 | 243,557 | |||||||||
|
| |||||||||||
Total Capital Trusts — 0.5% |
| 2,846,435 | ||||||||||
|
|
Security | Shares | Value | ||||||
Preferred Stocks — 0.1% | ||||||||
Capital Markets — 0.1% | ||||||||
Goldman Sachs Group, Inc., Series J, 5.50%(h)(i) | 13,550 | $ | 367,476 | |||||
|
| |||||||
Insurance — 0.0% | ||||||||
Alliant Holdings, Inc.(c) | 83 | 86,485 | ||||||
|
| |||||||
Total Preferred Stocks — 0.1%. |
| 453,961 | ||||||
|
| |||||||
Total Preferred Securities — 0.6% |
| 3,300,396 | ||||||
|
| |||||||
Warrants | ||||||||
Metals & Mining — 0.0% | ||||||||
Ameriforge Group, Inc. | 5,283 | — | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 0.0% | ||||||||
California Resources Corp. | 1,152 | 13,824 | ||||||
|
| |||||||
Transportation Infrastructure — 0.0% | ||||||||
Turbo Cayman Ltd. (Strike Price $0.01)(b)(c) | 1 | — | ||||||
|
| |||||||
Total Warrants — 0.0% |
| 13,824 | ||||||
|
| |||||||
Total Long-Term Investments — 148.1% |
| 806,336,887 | ||||||
|
| |||||||
Short-Term Securities | ||||||||
Money Market Funds — 0.5% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.01%(p)(q) | 2,526,050 | 2,526,050 | ||||||
|
| |||||||
Total Short-Term Securities — 0.5% |
| 2,526,050 | ||||||
|
| |||||||
Total Investments — 148.6% |
| 808,862,937 | ||||||
Liabilities in Excess of Other Assets — (48.6)% |
| (264,360,280 | ) | |||||
|
| |||||||
Net Assets — 100.0% |
| $ | 544,502,657 | |||||
|
|
(a) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(b) | Non-income producing security. |
(c) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) | Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $148,012, representing less than 0.05% of its net assets as of period end, and an original cost of $32,685. |
(e) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(f) | When-issued security. |
(g) | Issuer filed for bankruptcy and/or is in default. |
(h) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(i) | Perpetual security with no stated maturity date. |
(j) | Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. |
(k) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(l) | Convertible security. |
(m) | Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. |
(n) | Rounds to less than 1,000. |
(o) | Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
(p) | Affiliate of the Fund. |
(q) | Annualized 7-day yield as of period end. |
SCHEDULE OF INVESTMENTS | 22 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) |
For Fund compliance purposes, the Fund’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 12/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized | Change in Unrealized Appreciation (Depreciation) | Value at 09/30/21 | Shares Held at 09/30/21 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, | $ | — | $ | 2,526,050 | (a) | $ | — | $ | — | $ | — | $ | 2,526,050 | 2,526,050 | $ | 147 | $ | — | ||||||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(b) | 5,412,600 | — | (5,428,367 | ) | 378,190 | (362,423 | ) | — | — | 93,763 | — | |||||||||||||||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF(b) | 5,387,070 | — | (5,302,432 | ) | 245,056 | (329,694 | ) | — | — | 60,652 | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 623,246 | $ | (692,117 | ) | $ | 2,526,050 | $ | 154,562 | $ | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
(b) | As of period end, the entity is no longer held. |
Derivative Financial Instruments Outstanding as of Period End
Forward Foreign Currency Exchange Contracts
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
USD | 1,495,032 | EUR | 1,260,500 | Bank of America N.A. | 12/15/21 | $ | 32,771 | |||||||||||||
USD | 1,060,151 | EUR | 895,000 | BNP Paribas SA | 12/15/21 | 21,893 | ||||||||||||||
USD | 1,493,095 | EUR | 1,260,500 | BNP Paribas SA | 12/15/21 | 30,834 | ||||||||||||||
USD | 103,218 | EUR | 88,000 | Goldman Sachs International | 12/15/21 | 1,132 | ||||||||||||||
USD | 1,060,917 | EUR | 895,000 | HSBC Bank USA N.A. | 12/15/21 | 22,659 | ||||||||||||||
USD | 290,820 | GBP | 210,000 | Bank of America N.A. | 12/15/21 | 7,838 | ||||||||||||||
USD | 1,976,916 | GBP | 1,427,000 | Natwest Markets PLC | 12/15/21 | 53,980 | ||||||||||||||
|
| |||||||||||||||||||
171,107 | ||||||||||||||||||||
|
| |||||||||||||||||||
USD | 130,527 | GBP | 97,000 | Bank of America N.A. | 12/15/21 | (184 | ) | |||||||||||||
|
| |||||||||||||||||||
$ | 170,923 | |||||||||||||||||||
|
|
OTC Credit Default Swaps — Sell Protection
Reference Obligation/Index | | Financing Rate Received by the Fund | | | Payment Frequency | | Counterparty | | Termination Date | | Credit Rating(a) |
| Notional Amount (000)(b) |
| Value | | Upfront Premium Paid (Received) | | | Unrealized Appreciation (Depreciation) | | |||||||||||||||||||
CenturyLink, Inc. | 1.00 | % | Quarterly | Barclays Bank PLC | 12/20/23 | N/R | USD | 170 | $ | (1,289 | ) | $ | (6,041 | ) | $ | 4,752 | ||||||||||||||||||||||||
CenturyLink, Inc. | 1.00 | Quarterly | Barclays Bank PLC | 06/20/25 | N/R | USD | 185 | (7,275 | ) | (19,109 | ) | 11,834 | ||||||||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
$ | (8,564 | ) | $ | (25,150 | ) | $ | 16,586 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
(a) | Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings. |
(b) | The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement. |
23
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access; |
• | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and |
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Asset-Backed Securities | $ | — | $ | 161,656 | $ | — | $ | 161,656 | ||||||||
Common Stocks | ||||||||||||||||
Construction & Engineering | 70,741 | — | — | 70,741 | ||||||||||||
Diversified Financial Services | — | — | 10,753 | 10,753 | ||||||||||||
Energy Equipment & Services | — | 12,588 | — | 12,588 | ||||||||||||
Metals & Mining | — | 2,498 | 945 | 3,443 | ||||||||||||
Oil, Gas & Consumable Fuels | 769,801 | 148,012 | — | 917,813 | ||||||||||||
Semiconductors & Semiconductor Equipment | 42,470 | — | — | 42,470 | ||||||||||||
Software | 792 | — | — | 792 | ||||||||||||
Specialty Retail | — | 190,780 | — | 190,780 | ||||||||||||
Corporate Bonds | ||||||||||||||||
Aerospace & Defense | — | 3,261,915 | — | 3,261,915 | ||||||||||||
Airlines | — | 3,677,458 | — | 3,677,458 | ||||||||||||
Auto Components | — | 2,108,001 | 1 | 2,108,002 | ||||||||||||
Automobiles | — | 2,154,525 | — | 2,154,525 | ||||||||||||
Banks | — | 325,216 | — | 325,216 | ||||||||||||
Beverages | — | 2,339,735 | — | 2,339,735 | ||||||||||||
Biotechnology | — | 183,211 | — | 183,211 | ||||||||||||
Building Materials | — | 1,178,036 | — | 1,178,036 | ||||||||||||
Building Products | — | 1,017,573 | — | 1,017,573 | ||||||||||||
Capital Markets | — | 1,418,675 | — | 1,418,675 | ||||||||||||
Chemicals | — | 2,304,475 | — | 2,304,475 | ||||||||||||
Commercial Services & Supplies | — | 964,043 | — | 964,043 | ||||||||||||
Communications Equipment | — | 954,119 | — | 954,119 | ||||||||||||
Construction Materials | — | 729,734 | — | 729,734 | ||||||||||||
Consumer Discretionary | — | 2,042,518 | — | 2,042,518 | ||||||||||||
Consumer Finance | — | 2,447,243 | — | 2,447,243 | ||||||||||||
Containers & Packaging | — | 117,922 | — | 117,922 | ||||||||||||
Diversified Consumer Services | — | 2,689,600 | — | 2,689,600 | ||||||||||||
Diversified Financial Services | — | 1,667,636 | — | 1,667,636 | ||||||||||||
Diversified Telecommunication Services | — | 4,044,428 | — | 4,044,428 | ||||||||||||
Electric Utilities | — | 1,003,678 | — | 1,003,678 | ||||||||||||
Electrical Equipment | — | 369,644 | 1 | 369,645 | ||||||||||||
Electronic Equipment, Instruments & Components | — | 665,249 | — | 665,249 |
SCHEDULE OF INVESTMENTS | 24 |
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
Energy Equipment & Services | $ | — | $ | 660,909 | $ | 628,135 | $ | 1,289,044 | ||||||||
Entertainment | — | 70,150 | — | 70,150 | ||||||||||||
Environmental, Maintenance, & Security Service | — | 720,779 | — | 720,779 | ||||||||||||
Equity Real Estate Investment Trusts (REITs) | — | 2,384,463 | — | 2,384,463 | ||||||||||||
Food & Staples Retailing | — | 2,397,385 | — | 2,397,385 | ||||||||||||
Food Products | — | 1,119,427 | — | 1,119,427 | ||||||||||||
Gas Utilities | — | 43,575 | — | 43,575 | ||||||||||||
Health Care Equipment & Supplies | — | 686,510 | — | 686,510 | ||||||||||||
Health Care Providers & Services | — | 5,627,472 | — | 5,627,472 | ||||||||||||
Health Care Technology | — | 788,977 | — | 788,977 | ||||||||||||
Healthcare | — | 33,950 | — | 33,950 | ||||||||||||
Hotels, Restaurants & Leisure | — | 4,903,957 | — | 4,903,957 | ||||||||||||
Household Durables | — | 1,190,829 | — | 1,190,829 | ||||||||||||
Independent Power and Renewable Electricity Producers | — | 990,342 | — | 990,342 | ||||||||||||
Insurance | — | 1,874,225 | — | 1,874,225 | ||||||||||||
Interactive Media & Services | — | 636,259 | — | 636,259 | ||||||||||||
Internet Software & Services | — | 1,416,392 | — | 1,416,392 | ||||||||||||
IT Services | — | 2,998,819 | — | 2,998,819 | ||||||||||||
Leisure Products | — | 231,470 | — | 231,470 | ||||||||||||
Machinery | — | 2,104,647 | — | 2,104,647 | ||||||||||||
Media | — | 12,388,553 | — | 12,388,553 | ||||||||||||
Metals & Mining | — | 2,929,595 | — | 2,929,595 | ||||||||||||
Mortgage Real Estate Investment Trusts (REITs) | — | 9,441 | — | 9,441 | ||||||||||||
Multi-line Retail | — | 185,927 | — | 185,927 | ||||||||||||
Offshore Drilling & Other Services | — | 31,624 | — | 31,624 | ||||||||||||
Oil, Gas & Consumable Fuels | 113,816 | 14,105,034 | — | 14,218,850 | ||||||||||||
Personal Products | — | 30,628 | — | 30,628 | ||||||||||||
Pharmaceuticals | — | 3,096,203 | — | 3,096,203 | ||||||||||||
Professional Services | — | 481,000 | — | 481,000 | ||||||||||||
Real Estate Management & Development | — | 602,949 | — | 602,949 | ||||||||||||
Road & Rail | — | 227,618 | — | 227,618 | ||||||||||||
Semiconductors & Semiconductor Equipment | — | 510,258 | — | 510,258 | ||||||||||||
Software | — | 2,067,949 | — | 2,067,949 | ||||||||||||
Specialty Retail | — | 797,227 | — | 797,227 | ||||||||||||
Textiles, Apparel & Luxury Goods | — | 226,570 | — | 226,570 | ||||||||||||
Thrifts & Mortgage Finance | — | 580,113 | — | 580,113 | ||||||||||||
Utilities | — | 256,742 | — | 256,742 | ||||||||||||
Wireless Telecommunication Services | — | 3,102,485 | — | 3,102,485 | ||||||||||||
Floating Rate Loan Interests | — | 651,447,728 | 37,780,403 | 689,228,131 | ||||||||||||
Investment Companies | 1,466,460 | — | — | 1,466,460 | ||||||||||||
Other Interests | — | — | — | — | ||||||||||||
Preferred Securities | ||||||||||||||||
Capital Trusts | — | 2,846,435 | — | 2,846,435 | ||||||||||||
Preferred Stocks | 367,476 | — | 86,485 | 453,961 | ||||||||||||
Warrants | 13,824 | — | — | 13,824 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 2,526,050 | — | — | 2,526,050 | ||||||||||||
Unfunded Floating Rate Loan Interests(a) | — | 669 | — | 669 | ||||||||||||
Liabilities | ||||||||||||||||
Unfunded Floating Rate Loan Interests(a) | — | (919 | ) | — | (919 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 5,371,430 | $ | 764,984,534 | $ | 38,506,723 | $ | 808,862,687 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(b) | ||||||||||||||||
Assets | ||||||||||||||||
Credit Contracts | $ | — | $ | 16,586 | $ | — | $ | 16,586 | ||||||||
Foreign Currency Exchange Contracts | — | 171,107 | — | 171,107 | ||||||||||||
Liabilities | ||||||||||||||||
Foreign Currency Exchange Contracts | — | (184 | ) | — | (184 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | — | $ | 187,509 | $ | — | $ | 187,509 | |||||||||
|
|
|
|
|
|
|
|
(a) | Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment. |
(b) | Derivative financial instruments are swaps and forward foreign currency exchange contracts. Swaps and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
25
Schedule of Investments (unaudited) (continued) September 30, 2021 | BlackRock Debt Strategies Fund, Inc. (DSU) |
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of period end, bank borrowings payable of $247,000,000 are categorized as Level 2 within the fair value hierarchy.
A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:
Common Stocks | Corporate Bonds | Floating Rate Loan Interests | Other Interests | Preferred Stocks | Warrants | Total | ||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Opening balance, as of December 31, 2020 | $ | 64,033 | $ | 387,813 | $ | 30,751,870 | $ | — | (a) | $ | 81,671 | $ | — | (a) | $ | 31,285,387 | ||||||||||||
Transfers into Level 3(b) | — | — | 5,740,790 | — | — | — | 5,740,790 | |||||||||||||||||||||
Transfers out of Level 3(c) | (31,418 | ) | — | (13,556,793 | ) | — | — | — | (13,588,211 | ) | ||||||||||||||||||
Accrued discounts/premiums | — | 17,321 | 29,751 | — | — | — | 47,072 | |||||||||||||||||||||
Net realized gain (loss) | — | 1,497 | 46,769 | — | — | — | 48,266 | |||||||||||||||||||||
Net change in unrealized appreciation (depreciation)(d) | (20,917 | ) | 227,015 | 386,000 | — | 4,814 | — | 596,912 | ||||||||||||||||||||
Purchases | — | 10,262 | 22,029,716 | — | — | — | 22,039,978 | |||||||||||||||||||||
Sales | — | (15,771 | ) | (7,647,700 | ) | — | — | — | (7,663,471 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Closing balance, as of September 30, 2021 | $ | 11,698 | $ | 628,137 | $ | 37,780,403 | $ | — | (a) | $ | 86,485 | $ | — | (a) | $ | 38,506,723 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2021(d) | $ | (20,917 | ) | $ | 227,015 | $ | 455,269 | $ | — | $ | 4,814 | $ | — | $ | 666,181 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Rounds to less than $1. |
(b) | As of December 31, 2020, the Fund used observable inputs in determining the value of certain investments. As of September 30, 2021, the Fund used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy. |
(c) | As of December 31, 2020, the Fund used significant unobservable inputs in determining the value of certain investments. As of September 30, 2021, the Fund used observable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy. |
(d) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at September 30, 2021 is generally due to investments no longer held or categorized as Level 3 at period end. |
The Fund’s financial instruments that are categorized as Level 3 were valued utilizing third-party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third-party information could result in a significantly lower or higher value of such Level 3 financial instruments.
Currency Abbreviation | ||
EUR | Euro | |
GBP | British Pound | |
USD | United States Dollar | |
Portfolio Abbreviation | ||
CMT | Constant Maturity Treasury | |
DAC | Designated Activity Company | |
DIP | Debtor-In-Possession | |
ETF | Exchange-Traded Fund | |
EURIBOR | Euro Interbank Offered Rate | |
LIBOR | London Interbank Offered Rate | |
MSCI | Morgan Stanley Capital International | |
MTN | Medium-Term Note | |
PIK | Payment-in-Kind | |
REIT | Real Estate Investment Trust | |
S&P | Standard & Poor’s | |
SCA | Societe en Commandite par Actions | |
SPDR | Standard & Poor’s Depository Receipt |
SCHEDULE OF INVESTMENTS | 26 |