Schedule of Investments (unaudited) September 30, 2022 | 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(a) | GBP | 37 | $ | 40,925 | ||||||||
Series N, 6.46%, 03/30/32 | 100 | 125,474 | ||||||||||
|
| |||||||||||
Total Asset-Backed Securities — 0.0% |
| 166,399 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Common Stocks | ||||||||||||
Construction & Engineering — 0.0% | ||||||||||||
McDermott International Ltd.(b) | 141,483 | 63,667 | ||||||||||
|
| |||||||||||
Diversified Financial Services — 0.0% | ||||||||||||
Kcad Holdings I Ltd.(c) | 1,075,282,733 | 10,753 | ||||||||||
|
| |||||||||||
Electrical Equipment — 0.0% | ||||||||||||
SunPower Corp.(b) | 1,707 | 39,329 | ||||||||||
|
| |||||||||||
Metals & Mining — 0.0% | ||||||||||||
Ameriforge Group, Inc, | 1,664 | 832 | ||||||||||
Project Investor Holdings LLC, | 14,576 | 889 | ||||||||||
|
| |||||||||||
1,721 | ||||||||||||
Oil, Gas & Consumable Fuels — 0.0% | ||||||||||||
Chesapeake Energy Corp. | 1,585 | 149,323 | ||||||||||
|
| |||||||||||
Semiconductors & Semiconductor Equipment — 0.0% | ||||||||||||
Maxeon Solar Technologies Ltd.(b) | 213 | 5,063 | ||||||||||
|
| |||||||||||
Specialty Retail — 0.1% | ||||||||||||
NMG Parent LLC | 1,477 | 249,860 | ||||||||||
|
| |||||||||||
Total Common Stocks — 0.1% | 519,716 | |||||||||||
|
| |||||||||||
Par (000) | ||||||||||||
Corporate Bonds | ||||||||||||
Aerospace & Defense — 0.7% | ||||||||||||
Bombardier, Inc.(e) | ||||||||||||
7.50%, 03/15/25 | USD | 12 | 11,669 | |||||||||
7.13%, 06/15/26 | 421 | 386,129 | ||||||||||
7.88%, 04/15/27 | 83 | 76,360 | ||||||||||
6.00%, 02/15/28 | 145 | 121,318 | ||||||||||
F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26(e) | 200 | 155,042 | ||||||||||
Rolls-Royce PLC, 5.75%, 10/15/27(e) | 200 | 173,750 | ||||||||||
Spirit AeroSystems, Inc.(e) | ||||||||||||
5.50%, 01/15/25 | 55 | 51,975 | ||||||||||
7.50%, 04/15/25 | 10 | 9,422 | ||||||||||
TransDigm, Inc. | ||||||||||||
8.00%, 12/15/25(e) | 656 | 665,322 | ||||||||||
6.25%, 03/15/26(e) | 1,103 | 1,069,910 | ||||||||||
6.38%, 06/15/26 | 15 | 14,171 | ||||||||||
7.50%, 03/15/27 | 33 | 31,416 | ||||||||||
4.63%, 01/15/29 | 151 | 121,559 |
Security | Par (000) | Value | ||||||||||
Aerospace & Defense (continued) | ||||||||||||
TransDigm, Inc. (continued) | ||||||||||||
4.88%, 05/01/29 | USD | 96 | $ | 77,597 | ||||||||
Triumph Group, Inc., 8.88%, 06/01/24(e) | 231 | 228,203 | ||||||||||
|
| |||||||||||
3,193,843 | ||||||||||||
Airlines — 0.7% | ||||||||||||
Air Canada, 3.88%, 08/15/26(e) | 116 | 99,615 | ||||||||||
Air France-KLM, 3.88%, 07/01/26(a) | EUR | 100 | 79,599 | |||||||||
Allegiant Travel Co.(e) | ||||||||||||
8.50%, 02/05/24 | USD | 1,065 | 1,052,774 | |||||||||
7.25%, 08/15/27 | 37 | 34,873 | ||||||||||
American Airlines, Inc., 11.75%, 07/15/25(e) | 405 | 422,958 | ||||||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(e) | ||||||||||||
5.50%, 04/20/26 | 152 | 142,481 | ||||||||||
5.75%, 04/20/29 | 317 | 276,707 | ||||||||||
Delta Air Lines, Inc./SkyMiles IP Ltd., 4.75%, 10/20/28(e) | 98 | 91,163 | ||||||||||
Deutsche Lufthansa AG, 3.75%, 02/11/28(a) | EUR | 100 | 77,101 | |||||||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26(e) | USD | 101 | 89,081 | |||||||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27(e) | 287 | 280,347 | ||||||||||
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25(e) | 13 | 13,428 | ||||||||||
United Airlines Pass-Through Trust | ||||||||||||
Series 2020-1, Class A, 5.88%, 04/15/29 | 183 | 176,865 | ||||||||||
Series 2020-1, Class B, 4.88%, 07/15/27 | 16 | 14,869 | ||||||||||
United Airlines, Inc.(e) | ||||||||||||
4.38%, 04/15/26 | 259 | 231,157 | ||||||||||
4.63%, 04/15/29 | 302 | 249,887 | ||||||||||
|
| |||||||||||
3,332,905 | ||||||||||||
Auto Components — 0.4% | ||||||||||||
Clarios Global LP, 6.75%, 05/15/25(e) | 721 | 706,025 | ||||||||||
Clarios Global LP/Clarios U.S. Finance Co.(e) | ||||||||||||
6.25%, 05/15/26 | 271 | 258,805 | ||||||||||
8.50%, 05/15/27 | 930 | 887,676 | ||||||||||
Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28(e) | 22 | 19,360 | ||||||||||
Dornoch Debt Merger Sub, Inc., 6.63%, 10/15/29(e) | 36 | 25,958 | ||||||||||
Goodyear Tire & Rubber Co. | ||||||||||||
9.50%, 05/31/25 | 65 | 67,437 | ||||||||||
5.00%, 07/15/29 | 42 | 34,287 | ||||||||||
5.63%, 04/30/33 | 30 | 24,037 | ||||||||||
NM Holdings Co. LLC, 0.00%, 07/01/49(b)(c)(f) | 5,150 | 1 | ||||||||||
Titan International, Inc., 7.00%, 04/30/28 | 18 | 16,332 | ||||||||||
|
| |||||||||||
2,039,918 | ||||||||||||
Automobiles — 0.4% | ||||||||||||
Allison Transmission, Inc., 5.88%, 06/01/29(e) | 107 | 96,835 | ||||||||||
Asbury Automotive Group, Inc. | ||||||||||||
4.50%, 03/01/28 | 35 | 29,575 | ||||||||||
4.75%, 03/01/30 | 73 | 57,012 | ||||||||||
5.00%, 02/15/32(e) | 51 | 39,273 | ||||||||||
Carvana Co.(e) | ||||||||||||
5.50%, 04/15/27 | 88 | 47,960 | ||||||||||
4.88%, 09/01/29 | 72 | 35,100 | ||||||||||
Constellation Automotive Financing PLC, 4.88%, 07/15/27(a) | GBP | 100 | 75,646 |
1 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Automobiles (continued) | ||||||||||||
Ford Motor Co. | ||||||||||||
4.35%, 12/08/26 | USD | 9 | $ | 8,259 | ||||||||
3.25%, 02/12/32 | 199 | 143,346 | ||||||||||
6.10%, 08/19/32 | 57 | 50,251 | ||||||||||
4.75%, 01/15/43 | 176 | 116,616 | ||||||||||
5.29%, 12/08/46 | 78 | 54,990 | ||||||||||
Ford Motor Credit Co. LLC | ||||||||||||
3.81%, 01/09/24 | 200 | 193,500 | ||||||||||
4.69%, 06/09/25 | 200 | 185,599 | ||||||||||
5.13%, 06/16/25 | 200 | 188,722 | ||||||||||
5.11%, 05/03/29 | 200 | 173,540 | ||||||||||
4.00%, 11/13/30 | 200 | 156,000 | ||||||||||
Group 1 Automotive, Inc., 4.00%, 08/15/28(e) | 15 | 12,078 | ||||||||||
Ken Garff Automotive LLC, 4.88%, 09/15/28(e) | 39 | 31,874 | ||||||||||
LCM Investments Holdings II LLC, 4.88%, 05/01/29(e) | 90 | 69,693 | ||||||||||
Lithia Motors, Inc., 3.88%, 06/01/29(e) | 42 | 33,705 | ||||||||||
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(e) | 59 | 40,678 | ||||||||||
Penske Automotive Group, Inc. | ||||||||||||
3.50%, 09/01/25 | 59 | 54,009 | ||||||||||
3.75%, 06/15/29 | 22 | 17,486 | ||||||||||
Sonic Automotive, Inc., 4.63%, 11/15/29(e) | 20 | 15,700 | ||||||||||
Wabash National Corp., 4.50%, 10/15/28(e) | 70 | 54,264 | ||||||||||
|
| |||||||||||
1,981,711 | ||||||||||||
Banks — 0.0% | ||||||||||||
Banco Espirito Santo SA(b)(f) | ||||||||||||
2.63%, 01/21/19(a) | EUR | 100 | 11,761 | |||||||||
0.00%, 01/15/22(g) | 200 | 23,521 | ||||||||||
0.00%, 01/21/22 | 100 | 11,760 | ||||||||||
Wells Fargo & Co., Series BB, (5 year CMT + 3.45%), 3.90%(g)(h) | USD | 115 | 97,247 | |||||||||
|
| |||||||||||
144,289 | ||||||||||||
Beverages — 0.4% | ||||||||||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27(e)(i) | 441 | 301,953 | ||||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 4.00%, 09/01/29(e) | 485 | 355,191 | ||||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 5.25%, 08/15/27(e) | 208 | 130,152 | ||||||||||
Ball Corp. | ||||||||||||
2.88%, 08/15/30 | 12 | 9,209 | ||||||||||
3.13%, 09/15/31 | 157 | 118,339 | ||||||||||
Silgan Holdings, Inc., 4.13%, 02/01/28 | 8 | 7,096 | ||||||||||
Trivium Packaging Finance BV, 8.50%, 08/15/27(e) | 814 | 718,609 | ||||||||||
|
| |||||||||||
1,640,549 | ||||||||||||
Biotechnology — 0.0% | ||||||||||||
Cidron Aida Finco SARL, 5.00%, 04/01/28(a) | EUR | 100 | 80,246 | |||||||||
|
| |||||||||||
Building Materials — 0.2% | ||||||||||||
Masonite International Corp.(e) | ||||||||||||
Class C, 5.38%, 02/01/28 | USD | 45 | 39,804 | |||||||||
Class C, 3.50%, 02/15/30 | 69 | 52,751 | ||||||||||
New Enterprise Stone & Lime Co., Inc.(e) | ||||||||||||
5.25%, 07/15/28 | 26 | 21,490 | ||||||||||
9.75%, 07/15/28 | 38 | 32,053 | ||||||||||
SRM Escrow Issuer LLC, 6.00%, 11/01/28(e) | 267 | 217,002 | ||||||||||
Standard Industries, Inc. | ||||||||||||
2.25%, 11/21/26(a) | EUR | 100 | 76,448 | |||||||||
5.00%, 02/15/27(e) | USD | 34 | 30,087 |
Security | Par (000) | Value | ||||||||||
Building Materials (continued) | ||||||||||||
Standard Industries, Inc. (continued) | ||||||||||||
4.75%, 01/15/28(e) | USD | 12 | $ | 10,138 | ||||||||
4.38%, 07/15/30(e) | 174 | 133,110 | ||||||||||
3.38%, 01/15/31(e) | 99 | 69,627 | ||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(e) | 168 | 147,840 | ||||||||||
|
| |||||||||||
830,350 | ||||||||||||
Building Products(e) — 0.3% | ||||||||||||
Advanced Drainage Systems, Inc. | ||||||||||||
5.00%, 09/30/27 | 5 | 4,598 | ||||||||||
6.38%, 06/15/30 | 193 | 186,988 | ||||||||||
Beacon Roofing Supply, Inc., 4.13%, 05/15/29 | 39 | 31,587 | ||||||||||
Camelot Return Merger Sub, Inc., 8.75%, 08/01/28 | 67 | 55,222 | ||||||||||
Foundation Building Materials, Inc., 6.00%, 03/01/29 | 32 | 23,354 | ||||||||||
GYP Holdings III Corp., 4.63%, 05/01/29 | 76 | 57,809 | ||||||||||
LBM Acquisition LLC, 6.25%, 01/15/29 | 39 | 26,423 | ||||||||||
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26 | 27 | 22,341 | ||||||||||
SRS Distribution, Inc. | ||||||||||||
4.63%, 07/01/28 | 259 | 222,478 | ||||||||||
6.13%, 07/01/29 | 162 | 130,103 | ||||||||||
6.00%, 12/01/29 | 222 | 177,049 | ||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28 | 519 | 423,483 | ||||||||||
White Cap Parent LLC, (8.25% PIK), 8.25%, 03/15/26(i) | 67 | 56,763 | ||||||||||
|
| |||||||||||
1,418,198 | ||||||||||||
Capital Markets — 0.3% | ||||||||||||
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27(e) | 150 | 141,000 | ||||||||||
Aretec Escrow Issuer, Inc., 7.50%, 04/01/29(e) | 36 | 30,129 | ||||||||||
Charles Schwab Corp., Series H, (10 year CMT + 3.08%), 4.00%(g)(h) | 265 | 194,665 | ||||||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29(e) | 65 | 51,007 | ||||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. | ||||||||||||
4.75%, 09/15/24 | 101 | 94,492 | ||||||||||
6.25%, 05/15/26 | 9 | 8,411 | ||||||||||
5.25%, 05/15/27 | 196 | 171,600 | ||||||||||
4.38%, 02/01/29 | 182 | 146,488 | ||||||||||
NFP Corp.(e) | ||||||||||||
4.88%, 08/15/28 | 200 | 170,663 | ||||||||||
6.88%, 08/15/28 | 699 | 545,220 | ||||||||||
|
| |||||||||||
1,553,675 | ||||||||||||
Chemicals — 0.6% | ||||||||||||
Ashland LLC, 3.38%, 09/01/31(e) | 89 | 68,790 | ||||||||||
Avient Corp., 7.13%, 08/01/30(e) | 53 | 48,915 | ||||||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29(e) | 300 | 235,185 | ||||||||||
Celanese U.S. Holdings LLC, 6.17%, 07/15/27 | 85 | 80,444 | ||||||||||
Chemours Co., 5.75%, 11/15/28(e) | 38 | 31,081 | ||||||||||
Diamond BC BV, 4.63%, 10/01/29(e) | 226 | 157,255 | ||||||||||
Element Solutions, Inc., 3.88%, 09/01/28(e) | 556 | 447,691 | ||||||||||
EverArc Escrow SARL, 5.00%, 10/30/29(e) | 176 | 142,075 | ||||||||||
GCP Applied Technologies, Inc., 5.50%, 04/15/26(e) | 134 | 135,843 | ||||||||||
HB Fuller Co., 4.25%, 10/15/28 | 35 | 29,449 | ||||||||||
Herens Holdco SARL, 4.75%, 05/15/28(e) | 200 | 160,000 | ||||||||||
Herens Midco SARL, 5.25%, 05/15/29(a) | EUR | 100 | 61,344 | |||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28(e) | USD | 188 | 156,040 |
SCHEDULE OF INVESTMENTS | 2 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Chemicals (continued) | ||||||||||||
Ingevity Corp., 3.88%, 11/01/28(e) | USD | 23 | $ | 19,016 | ||||||||
Kobe U.S. Midco 2, Inc., (9.25% Cash or 10.00% PIK), 9.25%, 11/01/26(e)(i) | 82 | 64,780 | ||||||||||
LSF11 A5 HoldCo LLC, 6.63%, 10/15/29(e) | 36 | 27,000 | ||||||||||
Lune Holdings SARL, 5.63%, 11/15/28(a) | EUR | 100 | 73,533 | |||||||||
Minerals Technologies, Inc., 5.00%, 07/01/28(e) | USD | 55 | 47,868 | |||||||||
Scotts Miracle-Gro Co. | ||||||||||||
4.00%, 04/01/31 | 57 | 40,128 | ||||||||||
4.38%, 02/01/32 | 8 | 5,690 | ||||||||||
WESCO Distribution, Inc.(e) | ||||||||||||
7.13%, 06/15/25 | 49 | 49,027 | ||||||||||
7.25%, 06/15/28 | 153 | 149,856 | ||||||||||
WR Grace Holdings LLC, 5.63%, 08/15/29(e) | 935 | 701,250 | ||||||||||
|
| |||||||||||
2,932,260 | ||||||||||||
Commercial Services & Supplies — 0.2% | ||||||||||||
ADT Security Corp.(e) | ||||||||||||
4.13%, 08/01/29 | 9 | 7,470 | ||||||||||
4.88%, 07/15/32 | 14 | 11,291 | ||||||||||
AMN Healthcare, Inc., 4.00%, 04/15/29(e) | 28 | 23,593 | ||||||||||
APX Group, Inc.(e) | ||||||||||||
6.75%, 02/15/27 | 64 | 59,787 | ||||||||||
5.75%, 07/15/29 | 86 | 67,989 | ||||||||||
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.38%, 03/01/29(e) | 13 | 10,675 | ||||||||||
Fortress Transportation & Infrastructure Investors LLC(e) | ||||||||||||
6.50%, 10/01/25 | 18 | 16,909 | ||||||||||
9.75%, 08/01/27 | 17 | 16,623 | ||||||||||
5.50%, 05/01/28 | 95 | 75,987 | ||||||||||
Garden Spinco Corp., 8.63%, 07/20/30(e) | 64 | 66,120 | ||||||||||
Herc Holdings, Inc., 5.50%, 07/15/27(e) | 121 | 108,900 | ||||||||||
Hertz Corp.(e) | ||||||||||||
4.63%, 12/01/26 | 40 | 32,494 | ||||||||||
5.00%, 12/01/29 | 33 | 24,544 | ||||||||||
Metis Merger Sub LLC, 6.50%, 05/15/29(e) | 68 | 53,040 | ||||||||||
NESCO Holdings II, Inc., 5.50%, 04/15/29(e) | 74 | 61,678 | ||||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 01/15/28(e) | 209 | 178,355 | ||||||||||
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29(e) | 202 | 166,876 | ||||||||||
Team Health Holdings, Inc., 6.38%, 02/01/25(e) | 103 | 76,294 | ||||||||||
United Rentals North America, Inc., 5.25%, 01/15/30 | 2 | 1,810 | ||||||||||
Williams Scotsman International, Inc., 4.63%, 08/15/28(e) | 74 | 64,746 | ||||||||||
|
| |||||||||||
1,125,181 | ||||||||||||
Communications Equipment(e) — 0.2% | ||||||||||||
Avaya, Inc., 6.13%, 09/15/28 | 223 | 110,942 | ||||||||||
Ciena Corp., 4.00%, 01/31/30 | 34 | 28,390 | ||||||||||
CommScope Technologies LLC, 6.00%, 06/15/25 | 196 | 174,136 | ||||||||||
CommScope, Inc. | ||||||||||||
6.00%, 03/01/26 | 8 | 7,366 | ||||||||||
8.25%, 03/01/27 | 11 | 9,089 | ||||||||||
7.13%, 07/01/28 | 58 | 44,771 | ||||||||||
4.75%, 09/01/29 | 152 | 123,980 | ||||||||||
Viasat, Inc. | ||||||||||||
5.63%, 09/15/25 | 77 | 59,776 | ||||||||||
5.63%, 04/15/27 | 21 | 17,471 |
Security | Par (000) | Value | ||||||||||
Communications Equipment (continued) | ||||||||||||
Viasat, Inc. (continued) | ||||||||||||
6.50%, 07/15/28 | USD | 48 | $ | 31,920 | ||||||||
Viavi Solutions, Inc., 3.75%, 10/01/29 | 110 | 88,009 | ||||||||||
|
| |||||||||||
695,850 | ||||||||||||
Construction Materials(e) — 0.1% | ||||||||||||
American Builders & Contractors Supply Co., Inc. | ||||||||||||
4.00%, 01/15/28 | 103 | 90,102 | ||||||||||
3.88%, 11/15/29 | 18 | 14,100 | ||||||||||
BCPE Empire Holdings, Inc., 7.63%, 05/01/27 | 35 | 30,349 | ||||||||||
H&E Equipment Services, Inc., 3.88%, 12/15/28 | 20 | 15,700 | ||||||||||
IAA, Inc., 5.50%, 06/15/27 | 159 | 145,088 | ||||||||||
Picasso Finance Sub, Inc., 6.13%, 06/15/25 | 82 | 80,370 | ||||||||||
Thor Industries, Inc., 4.00%, 10/15/29 | 35 | 26,304 | ||||||||||
Winnebago Industries, Inc., 6.25%, 07/15/28 | 25 | 23,125 | ||||||||||
|
| |||||||||||
425,138 | ||||||||||||
Consumer Discretionary(e) — 0.4% | ||||||||||||
APi Group DE, Inc. | ||||||||||||
4.13%, 07/15/29 | 67 | 53,098 | ||||||||||
4.75%, 10/15/29 | 32 | 26,517 | ||||||||||
Carnival Corp. | ||||||||||||
10.50%, 02/01/26 | 314 | 310,675 | ||||||||||
5.75%, 03/01/27 | 295 | 206,662 | ||||||||||
9.88%, 08/01/27 | 140 | 137,200 | ||||||||||
4.00%, 08/01/28 | 202 | 162,961 | ||||||||||
6.00%, 05/01/29 | 125 | 82,071 | ||||||||||
CoreLogic, Inc., 4.50%, 05/01/28 | 138 | 93,840 | ||||||||||
Legends Hospitality Holding Co. LLC/Legends Hospitality Co.-Issuer, Inc., 5.00%, 02/01/26 | 52 | 44,529 | ||||||||||
Life Time, Inc. | ||||||||||||
5.75%, 01/15/26 | 80 | 72,800 | ||||||||||
8.00%, 04/15/26 | 69 | 58,995 | ||||||||||
NCL Corp. Ltd., 5.88%, 03/15/26 | 91 | 69,227 | ||||||||||
NCL Finance Ltd., 6.13%, 03/15/28 | 46 | 33,924 | ||||||||||
Nielsen Finance LLC/Nielsen Finance Co. | ||||||||||||
5.63%, 10/01/28 | 60 | 59,552 | ||||||||||
5.88%, 10/01/30 | 66 | 65,727 | ||||||||||
Royal Caribbean Cruises Ltd. | ||||||||||||
10.88%, 06/01/23 | 42 | 42,945 | ||||||||||
9.13%, 06/15/23 | 54 | 54,945 | ||||||||||
11.50%, 06/01/25 | 57 | 60,562 | ||||||||||
5.50%, 08/31/26 | 28 | 21,420 | ||||||||||
11.63%, 08/15/27 | 56 | 50,961 | ||||||||||
5.50%, 04/01/28 | 113 | 79,172 | ||||||||||
8.25%, 01/15/29(j) | 62 | 60,349 | ||||||||||
9.25%, 01/15/29(j) | 85 | 83,755 | ||||||||||
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29 | 59 | 45,873 | ||||||||||
|
| |||||||||||
1,977,760 | ||||||||||||
Consumer Finance — 0.5% | ||||||||||||
American Express Co., (5 year CMT + 2.85%), | ||||||||||||
3.55%(g)(h) | 235 | 181,109 | ||||||||||
HealthEquity, Inc., 4.50%, 10/01/29(e) | 339 | 286,367 | ||||||||||
MPH Acquisition Holdings LLC, 5.50%, 09/01/28(e) | 66 | 54,479 | ||||||||||
Navient Corp. | ||||||||||||
7.25%, 09/25/23 | 3 | 2,988 | ||||||||||
6.13%, 03/25/24 | 93 | 90,559 | ||||||||||
5.88%, 10/25/24 | 77 | 72,962 | ||||||||||
5.50%, 03/15/29 | 87 | 66,133 |
3 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Consumer Finance (continued) | ||||||||||||
OneMain Finance Corp. | ||||||||||||
6.88%, 03/15/25 | USD | 151 | $ | 141,917 | ||||||||
3.50%, 01/15/27 | 156 | 121,520 | ||||||||||
6.63%, 01/15/28 | 8 | 6,864 | ||||||||||
5.38%, 11/15/29 | 11 | 8,525 | ||||||||||
4.00%, 09/15/30 | 76 | 53,330 | ||||||||||
Sabre Global, Inc.(e) | ||||||||||||
9.25%, 04/15/25 | 78 | 74,678 | ||||||||||
7.38%, 09/01/25 | 81 | 72,546 | ||||||||||
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26(e) | 210 | 191,494 | ||||||||||
SLM Corp., 3.13%, 11/02/26 | 56 | 46,355 | ||||||||||
Verscend Escrow Corp., 9.75%, 08/15/26(e) | 851 | 821,215 | ||||||||||
|
| |||||||||||
2,293,041 | ||||||||||||
Containers & Packaging(e) — 0.2% | ||||||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC | ||||||||||||
6.00%, 06/15/27 | 200 | 188,341 | ||||||||||
3.25%, 09/01/28 | 200 | 163,192 | ||||||||||
Clydesdale Acquisition Holdings, Inc. | ||||||||||||
6.63%, 04/15/29 | 230 | 209,286 | ||||||||||
8.75%, 04/15/30 | 178 | 147,211 | ||||||||||
LABL, Inc., 5.88%, 11/01/28 | 84 | 68,032 | ||||||||||
Sealed Air Corp., 4.00%, 12/01/27 | 61 | 52,786 | ||||||||||
|
| |||||||||||
828,848 | ||||||||||||
Diversified Consumer Services — 0.5% | ||||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp.(e) | ||||||||||||
6.63%, 07/15/26 | 529 | 471,471 | ||||||||||
9.75%, 07/15/27 | 101 | 83,020 | ||||||||||
6.00%, 06/01/29 | 600 | 387,224 | ||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28(e) | 400 | 305,064 | ||||||||||
Brink’s Co., 5.50%, 07/15/25(e) | 15 | 14,198 | ||||||||||
Clarivate Science Holdings Corp.(e) | ||||||||||||
3.88%, 07/01/28 | 365 | 301,052 | ||||||||||
4.88%, 07/01/29 | 167 | 130,761 | ||||||||||
Garda World Security Corp., 4.63%, 02/15/27(e) | 11 | 9,433 | ||||||||||
Rekeep SpA, 7.25%, 02/01/26(a) | EUR | 100 | 85,754 | |||||||||
Service Corp. International, 4.00%, 05/15/31 | USD | 192 | 154,405 | |||||||||
Sotheby’s, 7.38%, 10/15/27(e) | 400 | 367,396 | ||||||||||
|
| |||||||||||
2,309,778 | ||||||||||||
Diversified Financial Services — 0.2% | ||||||||||||
Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28(e) | 200 | 167,000 | ||||||||||
Central Garden & Pet Co. | ||||||||||||
4.13%, 10/15/30 | 63 | 50,146 | ||||||||||
4.13%, 04/30/31(e) | 55 | 43,244 | ||||||||||
Citigroup, Inc.(g)(h) | ||||||||||||
Series W, (5 year CMT + 3.60%), 4.00% | 50 | 42,125 | ||||||||||
Series Y, (5 year CMT + 3.00%), 4.15% | 10 | 7,950 | ||||||||||
Garfunkelux Holdco 3 SA, 7.75%, 11/01/25(a) | GBP | 100 | 87,091 | |||||||||
Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24(e)(i) | USD | 26 | 19,257 | |||||||||
Intrum AB, 4.88%, 08/15/25(a) | EUR | 100 | 86,356 | |||||||||
Jefferies Finance LLC/JFIN Co.-Issuer Corp., 5.00%, 08/15/28(e) | USD | 200 | 147,500 |
Security | Par (000) | Value | ||||||||||
Diversified Financial Services (continued) | ||||||||||||
JPMorgan Chase & Co., (1 day SOFR + 2.58%), 5.72%, 09/14/33(g) | USD | 62 | $ | 58,630 | ||||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.75%, 06/15/29(e) | 22 | 16,470 | ||||||||||
OWL Rock Core Income Corp. | ||||||||||||
5.50%, 03/21/25 | 55 | 51,744 | ||||||||||
7.75%, 09/16/27(e) | 65 | 64,013 | ||||||||||
Spectrum Brands, Inc.(e) | ||||||||||||
5.00%, 10/01/29 | 8 | 6,364 | ||||||||||
5.50%, 07/15/30 | 50 | 39,097 | ||||||||||
UBS Group AG, (5 year CMT + 3.31%), | 345 | 226,665 | ||||||||||
VistaJet Malta Finance PLC/XO Management Holding, Inc., 6.38%, 02/01/30(e) | 52 | 42,510 | ||||||||||
|
| |||||||||||
1,156,162 | ||||||||||||
Diversified Telecommunication Services — 1.0% | ||||||||||||
Consolidated Communications, Inc., 6.50%, 10/01/28(e) | 157 | 117,357 | ||||||||||
Frontier Communications Holdings LLC, 8.75%, 05/15/30(e) | 187 | 187,120 | ||||||||||
Level 3 Financing, Inc.(e) | ||||||||||||
3.40%, 03/01/27 | 28 | 23,450 | ||||||||||
4.63%, 09/15/27 | 64 | 52,965 | ||||||||||
4.25%, 07/01/28 | 153 | 119,342 | ||||||||||
3.63%, 01/15/29 | 66 | 48,866 | ||||||||||
3.75%, 07/15/29 | 116 | 84,970 | ||||||||||
Lumen Technologies, Inc. | ||||||||||||
5.13%, 12/15/26(e) | 495 | 425,903 | ||||||||||
4.00%, 02/15/27(e) | 173 | 145,282 | ||||||||||
4.50%, 01/15/29(e) | 236 | 165,790 | ||||||||||
5.38%, 06/15/29(e) | 498 | 370,096 | ||||||||||
Series U, 7.65%, 03/15/42 | 22 | 14,889 | ||||||||||
SoftBank Group Corp., 5.00%, 04/15/28(a) | EUR | 100 | 77,179 | |||||||||
Sprint Capital Corp. | ||||||||||||
6.88%, 11/15/28 | USD | 324 | 332,910 | |||||||||
8.75%, 03/15/32 | 546 | 632,677 | ||||||||||
Switch Ltd.(e) | ||||||||||||
3.75%, 09/15/28 | 99 | 98,381 | ||||||||||
4.13%, 06/15/29 | 202 | 200,068 | ||||||||||
Telecom Italia Capital SA | ||||||||||||
6.38%, 11/15/33 | 58 | 45,091 | ||||||||||
6.00%, 09/30/34 | 134 | 99,859 | ||||||||||
7.20%, 07/18/36 | 14 | 10,972 | ||||||||||
7.72%, 06/04/38 | 23 | 18,350 | ||||||||||
Telecom Italia SpA, 2.88%, 01/28/26(a) | EUR | 100 | 87,488 | |||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 4.75%, 04/15/28(e) | USD | 29 | 22,909 | |||||||||
Zayo Group Holdings, Inc.(e) | ||||||||||||
4.00%, 03/01/27 | 829 | 665,231 | ||||||||||
6.13%, 03/01/28 | 746 | 523,376 | ||||||||||
|
| |||||||||||
4,570,521 | ||||||||||||
Electric Utilities — 0.1% | ||||||||||||
Edison International, Series A, (5 year CMT + 4.70%), 5.38%(g)(h) | 100 | 82,250 | ||||||||||
FirstEnergy Corp. | ||||||||||||
2.65%, 03/01/30 | 26 | 20,995 | ||||||||||
Series B, 2.25%, 09/01/30 | 6 | 4,616 | ||||||||||
Series C, 3.40%, 03/01/50 | 224 | 146,720 |
SCHEDULE OF INVESTMENTS | 4 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Electric Utilities (continued) | ||||||||||||
FirstEnergy Transmission LLC(e) | ||||||||||||
5.45%, 07/15/44 | USD | 139 | $ | 125,705 | ||||||||
4.55%, 04/01/49 | 51 | 39,835 | ||||||||||
Pike Corp., 5.50%, 09/01/28(e) | 130 | 105,300 | ||||||||||
Texas Competitive Electric Holdings, 1.00%, 11/10/21(b)(c)(f) | 2,375 | — | ||||||||||
|
| |||||||||||
525,421 | ||||||||||||
Electrical Equipment — 0.1% | ||||||||||||
Gates Global LLC/Gates Corp., 6.25%, 01/15/26(e) . | 322 | 296,240 | ||||||||||
GrafTech Finance, Inc., 4.63%, 12/15/28(e) | 66 | 49,335 | ||||||||||
NM Holdings Co. LLC, Series B, 9.50%, 07/01/05(b)(c)(f) | 5,125 | 1 | ||||||||||
|
| |||||||||||
345,576 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.3% | ||||||||||||
BWX Technologies, Inc.(e) | ||||||||||||
4.13%, 06/30/28 | 86 | 75,111 | ||||||||||
4.13%, 04/15/29 | 107 | 92,558 | ||||||||||
CDW LLC/CDW Finance Corp. | ||||||||||||
3.28%, 12/01/28 | 17 | 14,187 | ||||||||||
3.25%, 02/15/29 | 24 | 19,490 | ||||||||||
Energizer Holdings, Inc.(e) | ||||||||||||
4.75%, 06/15/28 | 17 | 13,469 | ||||||||||
4.38%, 03/31/29 | 6 | 4,451 | ||||||||||
Imola Merger Corp., 4.75%, 05/15/29(e) | 186 | 156,919 | ||||||||||
Vertiv Group Corp., 4.13%, 11/15/28(e) | 1,027 | 826,735 | ||||||||||
Xerox Corp., 4.80%, 03/01/35 | 2 | 1,303 | ||||||||||
|
| |||||||||||
1,204,223 | ||||||||||||
Energy Equipment & Services — 0.2% | ||||||||||||
Archrock Partners LP/Archrock Partners Finance Corp.(e) | ||||||||||||
6.88%, 04/01/27 | 106 | 94,932 | ||||||||||
6.25%, 04/01/28 | 174 | 152,945 | ||||||||||
Nabors Industries, Inc., 5.75%, 02/01/25 | 94 | 85,098 | ||||||||||
USA Compression Partners LP/USA Compression Finance Corp. | ||||||||||||
6.88%, 04/01/26 | 45 | 41,400 | ||||||||||
6.88%, 09/01/27 | 229 | 208,121 | ||||||||||
Vallourec SA, 8.50%, 06/30/26(a) | EUR | 8 | 7,310 | |||||||||
Weatherford International Ltd.(e) | ||||||||||||
11.00%, 12/01/24 | USD | 5 | 5,088 | |||||||||
6.50%, 09/15/28 | 52 | 46,800 | ||||||||||
8.63%, 04/30/30 | 68 | 59,217 | ||||||||||
|
| |||||||||||
700,911 | ||||||||||||
Entertainment(e) — 0.1% | ||||||||||||
AMC Entertainment Holdings, Inc., 7.50%, 02/15/29 | 24 | 18,540 | ||||||||||
Lindblad Expeditions LLC, 6.75%, 02/15/27 | 283 | 249,040 | ||||||||||
NCL Corp. Ltd., 7.75%, 02/15/29 | 35 | 26,414 | ||||||||||
|
| |||||||||||
293,994 | ||||||||||||
Environmental, Maintenance & Security Service — 0.2% | ||||||||||||
Covanta Holding Corp. | ||||||||||||
4.88%, 12/01/29(e) | 32 | 25,864 | ||||||||||
5.00%, 09/01/30 | 32 | 25,080 | ||||||||||
GFL Environmental, Inc.(e) | ||||||||||||
3.75%, 08/01/25 | 45 | 41,175 | ||||||||||
5.13%, 12/15/26 | 113 | 105,231 | ||||||||||
4.00%, 08/01/28 | 150 | 125,022 |
Security | Par (000) | Value | ||||||||||
Environmental, Maintenance & Security Service (continued) | ||||||||||||
GFL Environmental, Inc.(e) (continued) | ||||||||||||
3.50%, 09/01/28 | USD | 65 | $ | 54,815 | ||||||||
4.75%, 06/15/29 | 111 | 93,517 | ||||||||||
4.38%, 08/15/29 | 145 | 120,898 | ||||||||||
Stericycle, Inc., 3.88%, 01/15/29(e) | 49 | 40,578 | ||||||||||
Tervita Corp., 11.00%, 12/01/25(e) | 25 | 26,938 | ||||||||||
Waste Pro USA, Inc., 5.50%, 02/15/26(e) | 187 | 164,285 | ||||||||||
|
| |||||||||||
823,403 | ||||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.2% | ||||||||||||
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27(e) | 57 | 46,736 | ||||||||||
CTR Partnership LP/CareTrust Capital Corp., 3.88%, 06/30/28(e) | 15 | 12,338 | ||||||||||
Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27(e) | 46 | 35,881 | ||||||||||
HAT Holdings I LLC/HAT Holdings II LLC, 3.38%, 06/15/26(e) | 59 | 47,347 | ||||||||||
Iron Mountain, Inc.(e) | ||||||||||||
5.25%, 07/15/30 | 43 | 35,581 | ||||||||||
5.63%, 07/15/32 | 66 | 52,800 | ||||||||||
MPT Operating Partnership LP/MPT Finance Corp. | ||||||||||||
4.63%, 08/01/29 | 306 | 246,198 | ||||||||||
3.50%, 03/15/31 | 371 | 258,309 | ||||||||||
RHP Hotel Properties LP/RHP Finance Corp. | ||||||||||||
4.75%, 10/15/27 | 322 | 280,140 | ||||||||||
4.50%, 02/15/29(e) | 77 | 63,889 | ||||||||||
RLJ Lodging Trust LP(e) | ||||||||||||
3.75%, 07/01/26 | 40 | 34,162 | ||||||||||
4.00%, 09/15/29 | 31 | 24,285 | ||||||||||
VICI Properties LP/VICI Note Co., Inc., 3.88%, 02/15/29(e) | 16 | 13,422 | ||||||||||
|
| |||||||||||
1,151,088 | ||||||||||||
Food & Staples Retailing — 0.3% | ||||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(e) | ||||||||||||
3.25%, 03/15/26 | 146 | 128,237 | ||||||||||
4.63%, 01/15/27 | 11 | 9,832 | ||||||||||
4.88%, 02/15/30 | 92 | 77,833 | ||||||||||
Darling Ingredients, Inc., 6.00%, 06/15/30(e) | 135 | 128,478 | ||||||||||
Kraft Heinz Foods Co. | ||||||||||||
6.50%, 02/09/40 | 35 | 35,171 | ||||||||||
4.88%, 10/01/49 | 61 | 50,275 | ||||||||||
5.50%, 06/01/50 | 253 | 227,593 | ||||||||||
Lamb Weston Holdings, Inc.(e) | ||||||||||||
4.88%, 05/15/28 | 25 | 22,678 | ||||||||||
4.13%, 01/31/30 | 94 | 79,547 | ||||||||||
4.38%, 01/31/32 | 142 | 117,328 | ||||||||||
Ocado Group PLC, 3.88%, 10/08/26(a) | GBP | 100 | 81,443 | |||||||||
Performance Food Group, Inc., 4.25%, 08/01/29(e) | USD | 168 | 139,877 | |||||||||
Post Holdings, Inc.(e) | ||||||||||||
5.50%, 12/15/29 | 11 | 9,510 | ||||||||||
4.63%, 04/15/30 | 36 | 29,565 | ||||||||||
4.50%, 09/15/31 | 21 | 16,905 | ||||||||||
U.S. Foods, Inc.(e) | ||||||||||||
6.25%, 04/15/25 | 51 | 50,097 | ||||||||||
4.75%, 02/15/29 | 121 | 103,576 |
5 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Food & Staples Retailing (continued) | ||||||||||||
U.S. Foods, Inc.(e) (continued) | ||||||||||||
4.63%, 06/01/30 | USD | 13 | $ | 10,758 | ||||||||
United Natural Foods, Inc., 6.75%, 10/15/28(e) | 15 | 13,719 | ||||||||||
|
| |||||||||||
1,332,422 | ||||||||||||
Food Products(e) — 0.2% | ||||||||||||
Aramark Services, Inc. | ||||||||||||
6.38%, 05/01/25 | 110 | 107,800 | ||||||||||
5.00%, 02/01/28 | 222 | 197,738 | ||||||||||
Chobani LLC/Chobani Finance Corp., Inc. | ||||||||||||
7.50%, 04/15/25 | 370 | 338,483 | ||||||||||
4.63%, 11/15/28 | 272 | 231,347 | ||||||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 3.75%, 12/01/31 | 89 | 71,248 | ||||||||||
Pilgrim’s Pride Corp., 3.50%, 03/01/32 | 57 | 42,971 | ||||||||||
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%, 03/01/29 | 110 | 89,925 | ||||||||||
|
| |||||||||||
1,079,512 | ||||||||||||
Gas Utilities — 0.0% | ||||||||||||
DCP Midstream Operating LP, 5.63%, 07/15/27 | 15 | 14,488 | ||||||||||
Rockies Express Pipeline LLC, 4.95%, 07/15/29(e) | 14 | 12,009 | ||||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31(e) | 29 | 23,803 | ||||||||||
|
| |||||||||||
50,300 | ||||||||||||
Health Care Equipment & Supplies(e) — 0.1% | ||||||||||||
Avantor Funding, Inc. | ||||||||||||
4.63%, 07/15/28 | 359 | 319,490 | ||||||||||
3.88%, 11/01/29 | 379 | 307,824 | ||||||||||
Embecta Corp., 6.75%, 02/15/30 | 49 | 45,237 | ||||||||||
Hologic, Inc., 3.25%, 02/15/29 | 15 | 12,267 | ||||||||||
|
| |||||||||||
684,818 | ||||||||||||
Health Care Providers & Services — 0.8% | ||||||||||||
Acadia Healthcare Co., Inc.(e) | ||||||||||||
5.50%, 07/01/28 | 37 | 33,764 | ||||||||||
5.00%, 04/15/29 | 17 | 15,055 | ||||||||||
AdaptHealth LLC(e) | ||||||||||||
6.13%, 08/01/28 | 24 | 21,497 | ||||||||||
5.13%, 03/01/30 | 9 | 7,421 | ||||||||||
AHP Health Partners, Inc., 5.75%, 07/15/29(e) | 105 | 81,375 | ||||||||||
Cano Health LLC, 6.25%, 10/01/28(e) | 40 | 37,784 | ||||||||||
Centene Corp. | ||||||||||||
2.45%, 07/15/28 | 200 | 162,844 | ||||||||||
3.00%, 10/15/30 | 480 | 380,131 | ||||||||||
2.50%, 03/01/31 | 409 | 308,297 | ||||||||||
2.63%, 08/01/31 | 107 | 80,643 | ||||||||||
CHS/Community Health Systems, Inc.(e) | ||||||||||||
8.00%, 03/15/26 | 35 | 30,303 | ||||||||||
5.63%, 03/15/27 | 102 | 78,509 | ||||||||||
6.00%, 01/15/29 | 127 | 93,343 | ||||||||||
5.25%, 05/15/30 | 35 | 24,369 | ||||||||||
Encompass Health Corp. | ||||||||||||
4.50%, 02/01/28 | 5 | 4,282 | ||||||||||
4.75%, 02/01/30 | 180 | 148,082 | ||||||||||
4.63%, 04/01/31 | 66 | 52,157 | ||||||||||
Legacy LifePoint Health LLC(e) | ||||||||||||
6.75%, 04/15/25 | 116 | 109,761 | ||||||||||
4.38%, 02/15/27 | 44 | 36,359 | ||||||||||
LifePoint Health, Inc., 5.38%, 01/15/29(e) | 71 | 49,502 |
Security | Par (000) | Value | ||||||||||
Health Care Providers & Services (continued) | ||||||||||||
Medline Borrower LP(e) | ||||||||||||
3.88%, 04/01/29 | USD | 93 | $ | 74,557 | ||||||||
5.25%, 10/01/29 | 791 | 597,205 | ||||||||||
ModivCare, Inc., 5.88%, 11/15/25(e) | 20 | 18,458 | ||||||||||
Molina Healthcare, Inc.(e) | ||||||||||||
4.38%, 06/15/28 | 12 | 10,830 | ||||||||||
3.88%, 11/15/30 | 174 | 146,033 | ||||||||||
3.88%, 05/15/32 | 77 | 63,073 | ||||||||||
Owens & Minor, Inc., 6.63%, 04/01/30(e) | 2 | 1,760 | ||||||||||
Prime Healthcare Services, Inc., 7.25%, 11/01/25(e) | 137 | 122,279 | ||||||||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/01/26(e) | 15 | 13,422 | ||||||||||
Surgery Center Holdings, Inc.(e) | ||||||||||||
6.75%, 07/01/25 | 145 | 134,002 | ||||||||||
10.00%, 04/15/27 | 256 | 248,957 | ||||||||||
Teleflex, Inc. | ||||||||||||
4.63%, 11/15/27 | 6 | 5,405 | ||||||||||
4.25%, 06/01/28(e) | 31 | 26,963 | ||||||||||
Tenet Healthcare Corp.(e) | ||||||||||||
4.88%, 01/01/26 | 214 | 198,864 | ||||||||||
6.25%, 02/01/27 | 55 | 51,323 | ||||||||||
5.13%, 11/01/27 | 343 | 307,770 | ||||||||||
4.63%, 06/15/28 | 26 | 22,723 | ||||||||||
6.13%, 10/01/28 | 55 | 48,185 | ||||||||||
4.25%, 06/01/29 | 14 | 11,596 | ||||||||||
6.13%, 06/15/30 | 112 | 102,592 | ||||||||||
|
| |||||||||||
3,961,475 | ||||||||||||
Health Care Technology(e) — 0.2% | ||||||||||||
AthenaHealth Group, Inc., 6.50%, 02/15/30 | 469 | 370,777 | ||||||||||
Catalent Pharma Solutions, Inc. | ||||||||||||
5.00%, 07/15/27 | 41 | 36,571 | ||||||||||
3.13%, 02/15/29 | 52 | 40,105 | ||||||||||
3.50%, 04/01/30 | 118 | 92,833 | ||||||||||
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.75%, 03/01/25 | 304 | 302,159 | ||||||||||
Charles River Laboratories International, Inc. | ||||||||||||
4.25%, 05/01/28 | 46 | 40,060 | ||||||||||
3.75%, 03/15/29 | 11 | 9,150 | ||||||||||
4.00%, 03/15/31 | 21 | 16,935 | ||||||||||
Syneos Health, Inc., 3.63%, 01/15/29 | 309 | 246,051 | ||||||||||
|
| |||||||||||
1,154,641 | ||||||||||||
Hotels, Restaurants & Leisure — 1.0% | ||||||||||||
1011778 BC ULC/New Red Finance, Inc.(e) | ||||||||||||
3.88%, 01/15/28 | 25 | 21,755 | ||||||||||
4.38%, 01/15/28 | 234 | 202,761 | ||||||||||
4.00%, 10/15/30 | 46 | 36,229 | ||||||||||
Boyd Gaming Corp. | ||||||||||||
4.75%, 12/01/27 | 58 | 51,331 | ||||||||||
4.75%, 06/15/31(e) | 160 | 129,552 | ||||||||||
Boyne USA, Inc., 4.75%, 05/15/29(e) | 109 | 91,313 | ||||||||||
Caesars Entertainment, Inc.(e) | ||||||||||||
6.25%, 07/01/25 | 533 | 513,679 | ||||||||||
8.13%, 07/01/27 | 524 | 500,465 | ||||||||||
4.63%, 10/15/29 | 534 | 408,020 | ||||||||||
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25(e) | 151 | 145,700 | ||||||||||
Carnival Corp., 7.63%, 03/01/26(e) | 29 | 22,040 | ||||||||||
CCM Merger, Inc., 6.38%, 05/01/26(e) | 53 | 48,365 | ||||||||||
CDI Escrow Issuer, Inc., 5.75%, 04/01/30(e) | 323 | 282,081 |
SCHEDULE OF INVESTMENTS | 6 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op | ||||||||||||
5.50%, 05/01/25(e) | USD | 318 | $ | 305,894 | ||||||||
6.50%, 10/01/28 | 19 | 17,575 | ||||||||||
Churchill Downs, Inc.(e) | ||||||||||||
5.50%, 04/01/27 | 77 | 71,251 | ||||||||||
4.75%, 01/15/28 | 152 | 131,492 | ||||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.(e) | ||||||||||||
4.63%, 01/15/29 | 195 | 161,362 | ||||||||||
6.75%, 01/15/30 | 120 | 91,136 | ||||||||||
Hilton Domestic Operating Co., Inc. | ||||||||||||
5.75%, 05/01/28(e) | 124 | 115,940 | ||||||||||
3.75%, 05/01/29(e) | 46 | 37,986 | ||||||||||
4.88%, 01/15/30 | 193 | 167,910 | ||||||||||
4.00%, 05/01/31(e) | 76 | 61,433 | ||||||||||
3.63%, 02/15/32(e) | 40 | 30,636 | ||||||||||
MGM Resorts International, 5.75%, 06/15/25 | 73 | 69,764 | ||||||||||
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29(e) | 71 | 58,488 | ||||||||||
Peninsula Pacific Entertainment LLC/Peninsula Pacific Entertainment Finance, Inc., 8.50%, 11/15/27(e) | 76 | 81,795 | ||||||||||
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.(e) | ||||||||||||
5.63%, 09/01/29 | 34 | 23,536 | ||||||||||
5.88%, 09/01/31 | 37 | 24,975 | ||||||||||
Raptor Acquisition Corp./Raptor Co.-Issuer LLC, 4.88%, 11/01/26(e) | 57 | 49,021 | ||||||||||
Royal Caribbean Cruises Ltd., 5.38%, 07/15/27(e) | 67 | 49,281 | ||||||||||
Scientific Games International, Inc., 8.63%, 07/01/25(e) | 65 | 66,546 | ||||||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/25(e) | 96 | 95,960 | ||||||||||
Station Casinos LLC(e) | ||||||||||||
4.50%, 02/15/28 | 69 | 56,633 | ||||||||||
4.63%, 12/01/31 | 89 | 67,220 | ||||||||||
Vail Resorts, Inc., 6.25%, 05/15/25(e) | 89 | 87,791 | ||||||||||
Wyndham Hotels & Resorts, Inc., 4.38%, 08/15/28(e) | 44 | 38,677 | ||||||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.13%, 10/01/29(e) | 198 | 160,024 | ||||||||||
Yum! Brands, Inc. | ||||||||||||
4.75%, 01/15/30(e) | 17 | 14,856 | ||||||||||
5.38%, 04/01/32 | 12 | 10,640 | ||||||||||
5.35%, 11/01/43 | 14 | 11,117 | ||||||||||
|
| |||||||||||
4,612,230 | ||||||||||||
Household Durables — 0.2% | ||||||||||||
Ashton Woods USA LLC/Ashton Woods Finance Co.(e) | ||||||||||||
4.63%, 08/01/29 | 32 | 23,234 | ||||||||||
4.63%, 04/01/30 | 46 | 32,943 | ||||||||||
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC(e) | ||||||||||||
5.00%, 06/15/29 | 67 | 49,598 | ||||||||||
4.88%, 02/15/30 | 256 | 189,508 | ||||||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25(e) | 104 | 94,268 | ||||||||||
K Hovnanian Enterprises, Inc., 10.00%, 11/15/25(e) | 20 | 21,000 | ||||||||||
KB Home, 7.25%, 07/15/30 | 21 | 19,057 | ||||||||||
Mattamy Group Corp., 4.63%, 03/01/30(e) | 72 | 54,986 |
Security | Par (000) | Value | ||||||||||
Household Durables (continued) | ||||||||||||
NCR Corp.(e) | ||||||||||||
5.75%, 09/01/27 | USD | 20 | $ | 18,120 | ||||||||
5.00%, 10/01/28 | 57 | 44,846 | ||||||||||
5.13%, 04/15/29 | 30 | 22,501 | ||||||||||
6.13%, 09/01/29 | 78 | 67,159 | ||||||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/29(e) | 105 | 62,212 | ||||||||||
Taylor Morrison Communities, Inc., 5.13%, 08/01/30(e) | 20 | 16,144 | ||||||||||
Tempur Sealy International, Inc.(e) | ||||||||||||
4.00%, 04/15/29 | 73 | 57,526 | ||||||||||
3.88%, 10/15/31 | 72 | 52,740 | ||||||||||
Tri Pointe Homes, Inc., 5.70%, 06/15/28 | 18 | 15,312 | ||||||||||
|
| |||||||||||
841,154 | ||||||||||||
Household Products — 0.0% | ||||||||||||
Energizer Holdings, Inc., 6.50%, 12/31/27(e) | 38 | 33,732 | ||||||||||
|
| |||||||||||
Independent Power and Renewable Electricity Producers — 0.1% | ||||||||||||
Calpine Corp.(e) | ||||||||||||
5.25%, 06/01/26 | 28 | 26,394 | ||||||||||
5.13%, 03/15/28 | 380 | 326,369 | ||||||||||
4.63%, 02/01/29 | 22 | 17,927 | ||||||||||
5.00%, 02/01/31 | 14 | 11,124 | ||||||||||
Clearway Energy Operating LLC(e) | ||||||||||||
4.75%, 03/15/28 | 47 | 41,849 | ||||||||||
3.75%, 01/15/32 | 82 | 63,569 | ||||||||||
NRG Energy, Inc. | ||||||||||||
5.75%, 01/15/28 | 22 | 20,303 | ||||||||||
5.25%, 06/15/29(e) | 13 | 11,375 | ||||||||||
3.63%, 02/15/31(e) | 107 | 83,460 | ||||||||||
3.88%, 02/15/32(e) | 20 | 15,601 | ||||||||||
TerraForm Power Operating LLC, 4.75%, 01/15/30(e) | 74 | 62,810 | ||||||||||
|
| |||||||||||
680,781 | ||||||||||||
Industrial Conglomerates — 0.0% | ||||||||||||
Resideo Funding, Inc., 4.00%, 09/01/29(e) | 18 | 14,508 | ||||||||||
|
| |||||||||||
Insurance(e) — 0.5% | ||||||||||||
Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29 | 71 | 54,670 | ||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer | ||||||||||||
4.25%, 10/15/27 | 388 | 331,421 | ||||||||||
6.75%, 10/15/27 | 1,083 | 933,317 | ||||||||||
5.88%, 11/01/29 | 376 | 305,395 | ||||||||||
AmWINS Group, Inc., 4.88%, 06/30/29 | 89 | 73,876 | ||||||||||
GTCR AP Finance, Inc., 8.00%, 05/15/27 | 4 | 3,680 | ||||||||||
HUB International Ltd. | ||||||||||||
7.00%, 05/01/26 | 434 | 411,612 | ||||||||||
5.63%, 12/01/29 | 16 | 13,360 | ||||||||||
NFP Corp., 7.50%, 10/01/30 | 34 | 32,263 | ||||||||||
Ryan Specialty Group LLC, 4.38%, 02/01/30 | 43 | 36,470 | ||||||||||
|
| |||||||||||
2,196,064 | ||||||||||||
Interactive Media & Services — 0.1% | ||||||||||||
Arches Buyer, Inc., 4.25%, 06/01/28(e) | 36 | 28,080 | ||||||||||
Iliad SA, 2.38%, 06/17/26(a) | EUR | 100 | 86,303 | |||||||||
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.(e) | USD | 152 | 132,240 | |||||||||
6.00%, 02/15/28 | 71 | 55,036 | ||||||||||
10.75%, 06/01/28 | 30 | 27,941 |
7 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Interactive Media & Services (continued) | ||||||||||||
Twitter, Inc.(e) | ||||||||||||
3.88%, 12/15/27 | USD | 103 | $ | 96,586 | ||||||||
5.00%, 03/01/30 | 55 | 52,707 | ||||||||||
|
| |||||||||||
478,893 | ||||||||||||
Internet Software & Services(e) — 0.4% | ||||||||||||
ANGI Group LLC, 3.88%, 08/15/28 | 106 | 74,764 | ||||||||||
Endurance International Group Holdings, Inc., 6.00%, 02/15/29 | 34 | 22,571 | ||||||||||
Go Daddy Operating Co. LLC/GD Finance Co., Inc., 3.50%, 03/01/29 | 71 | 58,069 | ||||||||||
Match Group Holdings II LLC | ||||||||||||
4.63%, 06/01/28 | 81 | 70,774 | ||||||||||
4.13%, 08/01/30 | 65 | 53,381 | ||||||||||
3.63%, 10/01/31 | 66 | 49,830 | ||||||||||
NortonLifeLock, Inc., 7.13%, 09/30/30 | 74 | 71,574 | ||||||||||
Uber Technologies, Inc. | ||||||||||||
7.50%, 05/15/25 | 242 | 241,395 | ||||||||||
8.00%, 11/01/26 | 92 | 91,855 | ||||||||||
7.50%, 09/15/27 | 282 | 276,360 | ||||||||||
6.25%, 01/15/28 | 341 | 317,130 | ||||||||||
4.50%, 08/15/29 | 660 | 554,812 | ||||||||||
|
| |||||||||||
1,882,515 | ||||||||||||
IT Services — 0.7% | ||||||||||||
Ahead DB Holdings LLC, 6.63%, 05/01/28(e) | 50 | 42,619 | ||||||||||
Block, Inc., 3.50%, 06/01/31 | 525 | 407,040 | ||||||||||
Booz Allen Hamilton, Inc.(e) | ||||||||||||
3.88%, 09/01/28 | 75 | 64,520 | ||||||||||
4.00%, 07/01/29 | 138 | 118,067 | ||||||||||
CA Magnum Holdings, 5.38%, 10/31/26(e) | 201 | 167,835 | ||||||||||
Camelot Finance SA, 4.50%, 11/01/26(e) | 56 | 50,669 | ||||||||||
Condor Merger Sub, Inc., 7.38%, 02/15/30(e) | 279 | 228,101 | ||||||||||
Dun & Bradstreet Corp., 5.00%, 12/15/29(e) | 262 | 216,150 | ||||||||||
Fair Isaac Corp., 4.00%, 06/15/28(e) | 63 | 53,681 | ||||||||||
Fiserv, Inc., 2.25%, 06/01/27 | 1,385 | 1,195,761 | ||||||||||
Gartner, Inc.(e) | ||||||||||||
4.50%, 07/01/28 | 78 | 69,748 | ||||||||||
3.63%, 06/15/29 | 42 | 34,965 | ||||||||||
3.75%, 10/01/30 | 25 | 20,466 | ||||||||||
Global Payments, Inc., 4.95%, 08/15/27 | 35 | 33,346 | ||||||||||
KBR, Inc., 4.75%, 09/30/28(e) | 66 | 56,699 | ||||||||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 5.75%, 06/01/25(e) | 163 | 158,834 | ||||||||||
Twilio, Inc., 3.88%, 03/15/31 | 161 | 126,381 | ||||||||||
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29(e) | 337 | 274,972 | ||||||||||
|
| |||||||||||
3,319,854 | ||||||||||||
Leisure Products — 0.0% | ||||||||||||
Mattel, Inc. | ||||||||||||
3.75%, 04/01/29(e) | 32 | 26,905 | ||||||||||
6.20%, 10/01/40 | 60 | 56,478 | ||||||||||
5.45%, 11/01/41 | 119 | 99,697 | ||||||||||
|
| |||||||||||
183,080 | ||||||||||||
Machinery — 0.5% | ||||||||||||
ATS Automation Tooling Systems, Inc., 4.13%, 12/15/28(e) | 35 | 29,020 | ||||||||||
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25(e)(i) | 445 | 417,188 | ||||||||||
Madison IAQ LLC, 5.88%, 06/30/29(e) | 1,139 | 793,382 | ||||||||||
Mueller Water Products, Inc., 4.00%, 06/15/29(e) | 34 | 28,934 |
Security | Par (000) | Value | ||||||||||
Machinery (continued) | ||||||||||||
OT Merger Corp., 7.88%, 10/15/29(e) | USD | 37 | $ | 25,068 | ||||||||
Schenck Process Holding GmbH/Darmstadt, 5.38%, 06/15/23(a) | EUR | 100 | 95,432 | |||||||||
Terex Corp., 5.00%, 05/15/29(e) | USD | 102 | 87,540 | |||||||||
Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26(e) | 171 | 135,164 | ||||||||||
TK Elevator Holdco GmbH, 7.63%, 07/15/28(e) | 200 | 167,500 | ||||||||||
TK Elevator Midco GmbH, 4.38%, 07/15/27(a) | EUR | 100 | 82,079 | |||||||||
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(e) | USD | 400 | 340,084 | |||||||||
|
| |||||||||||
2,201,391 | ||||||||||||
Media — 2.3% | ||||||||||||
Adelphia Communications Corp., 10.50%, 12/31/49(b)(c)(f) | 400 | — | ||||||||||
Altice Financing SA(e) | ||||||||||||
5.00%, 01/15/28 | 204 | 157,137 | ||||||||||
5.75%, 08/15/29 | 451 | 345,114 | ||||||||||
Altice France Holding SA, 10.50%, 05/15/27(e) | 542 | 424,524 | ||||||||||
AMC Networks, Inc., 4.25%, 02/15/29 | 39 | 28,835 | ||||||||||
Cable One, Inc. | ||||||||||||
1.13%, 03/15/28(k) | 66 | 47,520 | ||||||||||
4.00%, 11/15/30(e) | 111 | 86,404 | ||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||||||
5.13%, 05/01/27(e) | 38 | 34,295 | ||||||||||
5.00%, 02/01/28(e) | 33 | 28,455 | ||||||||||
5.38%, 06/01/29(e) | 117 | 102,412 | ||||||||||
6.38%, 09/01/29(e) | 417 | 382,848 | ||||||||||
4.75%, 03/01/30(e) | 61 | 49,486 | ||||||||||
4.50%, 08/15/30(e) | 109 | 86,202 | ||||||||||
4.25%, 02/01/31(e) | 257 | 197,129 | ||||||||||
4.75%, 02/01/32(e) | 207 | 161,207 | ||||||||||
4.50%, 05/01/32 | 291 | 221,937 | ||||||||||
4.50%, 06/01/33(e) | 128 | 94,563 | ||||||||||
4.25%, 01/15/34(e) | 289 | 206,860 | ||||||||||
Clear Channel International BV, 6.63%, 08/01/25(e) | 200 | 185,842 | ||||||||||
Clear Channel Outdoor Holdings, Inc.(e) | ||||||||||||
5.13%, 08/15/27 | 562 | 474,742 | ||||||||||
7.75%, 04/15/28 | 337 | 254,435 | ||||||||||
7.50%, 06/01/29 | 252 | 182,700 | ||||||||||
CMG Media Corp., 8.88%, 12/15/27(e) | 100 | 76,396 | ||||||||||
Connect Finco SARL/Connect U.S. Finco LLC, | ||||||||||||
6.75%, 10/01/26(e) | 538 | 470,509 | ||||||||||
CSC Holdings LLC | ||||||||||||
5.25%, 06/01/24 | 344 | 318,200 | ||||||||||
4.13%, 12/01/30(e) | 223 | 166,626 | ||||||||||
3.38%, 02/15/31(e) | 205 | 144,525 | ||||||||||
Directv Financing LLC/Directv Financing Co.- Obligor, Inc., 5.88%, 08/15/27(e) | 155 | 133,627 | ||||||||||
DISH DBS Corp. | ||||||||||||
5.25%, 12/01/26(e) | 438 | 358,830 | ||||||||||
5.75%, 12/01/28(e) | 248 | 187,424 | ||||||||||
5.13%, 06/01/29 | 107 | 62,863 | ||||||||||
Frontier Communications Holdings LLC(e) | ||||||||||||
5.88%, 10/15/27 | 93 | 83,349 | ||||||||||
5.00%, 05/01/28 | 205 | 175,931 | ||||||||||
6.75%, 05/01/29 | 146 | 120,450 | ||||||||||
6.00%, 01/15/30 | 86 | 67,564 | ||||||||||
GCI LLC, 4.75%, 10/15/28(e) | 64 | 53,136 | ||||||||||
Iliad Holding SASU(e) | ||||||||||||
6.50%, 10/15/26 | 200 | 174,880 | ||||||||||
7.00%, 10/15/28 | 200 | 171,344 |
SCHEDULE OF INVESTMENTS | 8 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Media (continued) | ||||||||||||
Kaixo Bondco Telecom SA, 5.13%, 09/30/29(a) | EUR | 100 | $ | 76,596 | ||||||||
Lamar Media Corp. | ||||||||||||
3.75%, 02/15/28 | USD | 13 | 11,356 | |||||||||
4.00%, 02/15/30 | 57 | 47,759 | ||||||||||
LCPR Senior Secured Financing DAC(e) | ||||||||||||
6.75%, 10/15/27 | 180 | 149,400 | ||||||||||
5.13%, 07/15/29 | 200 | 150,613 | ||||||||||
Liberty Broadband Corp., | 481 | 461,146 | ||||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(e)(i) | 72 | 27,930 | ||||||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29(e) | 244 | 181,780 | ||||||||||
Live Nation Entertainment, Inc.(e) | ||||||||||||
4.88%, 11/01/24 | 9 | 8,706 | ||||||||||
6.50%, 05/15/27 | 523 | 503,257 | ||||||||||
4.75%, 10/15/27 | 64 | 55,564 | ||||||||||
3.75%, 01/15/28 | 64 | 54,240 | ||||||||||
Outfront Media Capital LLC/Outfront Media Capital Corp.(e) | ||||||||||||
5.00%, 08/15/27 | 242 | 211,399 | ||||||||||
4.25%, 01/15/29 | 43 | 33,777 | ||||||||||
4.63%, 03/15/30 | 4 | 3,117 | ||||||||||
Radiate Holdco LLC/Radiate Finance, Inc.(e) | ||||||||||||
4.50%, 09/15/26 | 815 | 668,487 | ||||||||||
6.50%, 09/15/28 | 414 | 288,765 | ||||||||||
Scripps Escrow II, Inc., 3.88%, 01/15/29(e) | 5 | 3,986 | ||||||||||
Sinclair Television Group, Inc., 4.13%, 12/01/30(e) | 229 | 172,322 | ||||||||||
Sirius XM Radio, Inc.(e) | ||||||||||||
3.13%, 09/01/26 | 212 | 186,184 | ||||||||||
5.00%, 08/01/27 | 71 | 65,143 | ||||||||||
4.00%, 07/15/28 | 99 | 84,207 | ||||||||||
4.13%, 07/01/30 | 28 | 22,760 | ||||||||||
3.88%, 09/01/31 | 135 | 104,684 | ||||||||||
Stagwell Global LLC, 5.63%, 08/15/29(e) | 32 | 26,322 | ||||||||||
Univision Communications, Inc.(e) | ||||||||||||
5.13%, 02/15/25 | 107 | 101,583 | ||||||||||
6.63%, 06/01/27 | 39 | 36,805 | ||||||||||
7.38%, 06/30/30 | 68 | 64,892 | ||||||||||
UPC Broadband Finco BV, 4.88%, 07/15/31(e) | 200 | 155,206 | ||||||||||
Videotron Ltd., 3.63%, 06/15/29(e) | 85 | 68,849 | ||||||||||
Virgin Media Secured Finance PLC, 4.50%, 08/15/30(e) | 200 | 156,090 | ||||||||||
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28(e) | 242 | 195,717 | ||||||||||
WMG Acquisition Corp., 3.88%, 07/15/30(e) | 7 | 5,735 | ||||||||||
Ziggo Bond Co. BV, 5.13%, 02/28/30(e) | 200 | 143,000 | ||||||||||
|
| |||||||||||
11,045,678 | ||||||||||||
Metals & Mining — 0.5% | ||||||||||||
Arconic Corp.(e) | ||||||||||||
6.00%, 05/15/25 | 13 | 12,513 | ||||||||||
6.13%, 02/15/28 | 203 | 179,316 | ||||||||||
ATI, Inc. | ||||||||||||
4.88%, 10/01/29 | 32 | 26,569 | ||||||||||
5.13%, 10/01/31 | 88 | 71,890 | ||||||||||
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29(e) | 360 | 331,337 | ||||||||||
Carpenter Technology Corp. | ||||||||||||
6.38%, 07/15/28 | 14 | 12,984 | ||||||||||
7.63%, 03/15/30 | 64 | 61,619 |
Security | Par (000) | Value | ||||||||||
Metals & Mining (continued) | ||||||||||||
Commercial Metals Co. | ||||||||||||
4.13%, 01/15/30 | USD | 23 | $ | 18,883 | ||||||||
4.38%, 03/15/32 | 24 | 18,960 | ||||||||||
Constellium SE, 3.75%, 04/15/29(e) | 500 | 365,041 | ||||||||||
ERO Copper Corp., 6.50%, 02/15/30(e) | 50 | 37,531 | ||||||||||
FMG Resources August Pty. Ltd., 6.13%, 04/15/32(e) | 130 | 111,703 | ||||||||||
Kaiser Aluminum Corp.(e) | ||||||||||||
4.63%, 03/01/28 | 169 | 137,890 | ||||||||||
4.50%, 06/01/31 | 192 | 140,494 | ||||||||||
Mineral Resources Ltd., 8.50%, 05/01/30(e) | 41 | 39,622 | ||||||||||
New Gold, Inc., 7.50%, 07/15/27(e) | 170 | 134,300 | ||||||||||
Novelis Corp.(e) | ||||||||||||
3.25%, 11/15/26 | 203 | 169,450 | ||||||||||
4.75%, 01/30/30 | 381 | 312,420 | ||||||||||
3.88%, 08/15/31 | 168 | 125,315 | ||||||||||
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29(a) | EUR | 100 | 76,958 | |||||||||
Roller Bearing Co. of America, Inc., 4.38%, 10/15/29(e) | USD | 39 | 32,896 | |||||||||
U.S. Steel Corp., 6.88%, 03/01/29 | 26 | 23,630 | ||||||||||
|
| |||||||||||
2,441,321 | ||||||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.0% | ||||||||||||
Starwood Property Trust, Inc., 5.50%, 11/01/23(e) | 9 | 8,842 | ||||||||||
|
| |||||||||||
Multiline Retail — 0.0% | ||||||||||||
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26(e) | 123 | 113,019 | ||||||||||
|
| |||||||||||
Offshore Drilling & Other Services(e) — 0.0% | ||||||||||||
Entegris, Inc. | ||||||||||||
4.38%, 04/15/28 | 29 | 24,587 | ||||||||||
3.63%, 05/01/29 | 33 | 26,115 | ||||||||||
|
| |||||||||||
50,702 | ||||||||||||
Oil, Gas & Consumable Fuels — 2.5% | ||||||||||||
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26(e) | 217 | 209,696 | ||||||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp.(e) | ||||||||||||
5.75%, 03/01/27 | 89 | 82,313 | ||||||||||
5.75%, 01/15/28 | 15 | 13,650 | ||||||||||
5.38%, 06/15/29 | 66 | 58,271 | ||||||||||
Antero Resources Corp., 7.63%, 02/01/29(e) | 23 | 22,957 | ||||||||||
Apache Corp. | ||||||||||||
4.25%, 01/15/30 | 68 | 59,466 | ||||||||||
5.10%, 09/01/40 | 76 | 61,352 | ||||||||||
5.35%, 07/01/49 | 41 | 32,185 | ||||||||||
Arcosa, Inc., 4.38%, 04/15/29(e) | 117 | 99,450 | ||||||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp.(e) | ||||||||||||
9.00%, 11/01/27 | 298 | 363,502 | ||||||||||
5.88%, 06/30/29 | 154 | 137,060 | ||||||||||
Buckeye Partners LP | ||||||||||||
5.85%, 11/15/43 | 16 | 11,852 | ||||||||||
5.60%, 10/15/44 | 1 | 702 | ||||||||||
Callon Petroleum Co. | ||||||||||||
6.38%, 07/01/26 | 38 | 34,241 | ||||||||||
8.00%, 08/01/28(e) | 250 | 230,625 | ||||||||||
7.50%, 06/15/30(e) | 279 | 244,266 | ||||||||||
Cellnex Telecom SA, Series CLNX, 0.75%, 11/20/31(a) | EUR | 100 | 63,844 |
9 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
Central Parent, Inc./CDK Global, Inc., 7.25%, 06/15/29(e) | USD | 224 | $ | 212,956 | ||||||||
Cheniere Energy Partners LP | ||||||||||||
4.50%, 10/01/29 | 262 | 230,662 | ||||||||||
4.00%, 03/01/31 | 239 | 200,397 | ||||||||||
3.25%, 01/31/32 | 188 | 144,357 | ||||||||||
Chesapeake Energy Corp.(e) | ||||||||||||
5.88%, 02/01/29 | 5 | 4,637 | ||||||||||
6.75%, 04/15/29 | 145 | 139,000 | ||||||||||
CITGO Petroleum Corp.(e) | ||||||||||||
7.00%, 06/15/25 | 90 | 85,998 | ||||||||||
6.38%, 06/15/26 | 74 | 69,080 | ||||||||||
Civitas Resources, Inc., 5.00%, 10/15/26(e) | 28 | 25,437 | ||||||||||
CNX Midstream Partners LP, 4.75%, 04/15/30(e) | 32 | 25,117 | ||||||||||
CNX Resources Corp.(e) | ||||||||||||
6.00%, 01/15/29 | 33 | 30,113 | ||||||||||
7.38%, 01/15/31 | 67 | 65,531 | ||||||||||
Colgate Energy Partners III LLC(e) | ||||||||||||
7.75%, 02/15/26 | 113 | 110,913 | ||||||||||
5.88%, 07/01/29 | 129 | 115,149 | ||||||||||
Comstock Resources, Inc.(e) | ||||||||||||
6.75%, 03/01/29 | 237 | 218,587 | ||||||||||
5.88%, 01/15/30 | 220 | 191,610 | ||||||||||
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31(e) | 250 | 211,631 | ||||||||||
Crescent Energy Finance LLC, 7.25%, 05/01/26(e) | 222 | 199,449 | ||||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.(e) | ||||||||||||
5.63%, 05/01/27 | 16 | 14,480 | ||||||||||
6.00%, 02/01/29 | 13 | 11,635 | ||||||||||
8.00%, 04/01/29 | 27 | 25,988 | ||||||||||
CrownRock LP/CrownRock Finance, Inc.(e) | ||||||||||||
5.63%, 10/15/25 | 413 | 395,394 | ||||||||||
5.00%, 05/01/29 | 16 | 14,117 | ||||||||||
DCP Midstream Operating LP | ||||||||||||
5.13%, 05/15/29 | 17 | 15,929 | ||||||||||
6.45%, 11/03/36(e) | 179 | 163,536 | ||||||||||
6.75%, 09/15/37(e) | 6 | 5,818 | ||||||||||
DT Midstream, Inc.(e) | ||||||||||||
4.13%, 06/15/29 | 124 | 104,780 | ||||||||||
4.38%, 06/15/31 | 152 | 125,357 | ||||||||||
Dycom Industries, Inc., 4.50%, 04/15/29(e) | 33 | 27,808 | ||||||||||
Earthstone Energy Holdings LLC, 8.00%, 04/15/27(e) | 99 | 93,308 | ||||||||||
eG Global Finance PLC, 6.25%, 10/30/25(a) | EUR | 142 | 120,329 | |||||||||
Energy Transfer LP, Series H, (5 year CMT + 5.69%), 6.50%(g)(h) | USD | 222 | 193,385 | |||||||||
EnLink Midstream LLC | ||||||||||||
5.63%, 01/15/28(e) | 103 | 96,305 | ||||||||||
5.38%, 06/01/29 | 118 | 107,970 | ||||||||||
6.50%, 09/01/30(e) | 75 | 73,238 | ||||||||||
EnLink Midstream Partners LP | ||||||||||||
4.85%, 07/15/26 | 39 | 35,817 | ||||||||||
5.60%, 04/01/44 | 82 | 62,377 | ||||||||||
5.45%, 06/01/47 | 18 | 13,148 | ||||||||||
EQM Midstream Partners LP | ||||||||||||
6.00%, 07/01/25(e) | 33 | 30,513 | ||||||||||
4.13%, 12/01/26 | 17 | 14,402 | ||||||||||
6.50%, 07/01/27(e) | 117 | 108,118 | ||||||||||
4.50%, 01/15/29(e) | 8 | 6,445 | ||||||||||
7.50%, 06/01/30(e) | 27 | 25,514 |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
EQM Midstream Partners LP (continued) |
| |||||||||||
4.75%, 01/15/31(e) | USD | 199 | $ | 157,956 | ||||||||
Gulfport Energy Corp., 8.00%, 05/17/26(e) | 11 | 11,443 | ||||||||||
Harvest Midstream I LP, 7.50%, 09/01/28(e) | 20 | 18,693 | ||||||||||
Hess Midstream Operations LP, 4.25%, 02/15/30(e) | 77 | 62,178 | ||||||||||
Hilcorp Energy I LP/Hilcorp Finance Co.(e) | ||||||||||||
6.25%, 11/01/28 | 31 | 28,603 | ||||||||||
5.75%, 02/01/29 | 13 | 11,365 | ||||||||||
6.00%, 04/15/30 | 5 | 4,358 | ||||||||||
6.00%, 02/01/31 | 5 | 4,332 | ||||||||||
ITT Holdings LLC, 6.50%, 08/01/29(e) | 109 | 84,559 | ||||||||||
Kinetik Holdings LP, 5.88%, 06/15/30(e) | 177 | 162,072 | ||||||||||
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26(e) | 10 | 9,584 | ||||||||||
MasTec, Inc., 4.50%, 08/15/28(e) | 56 | 48,880 | ||||||||||
Matador Resources Co., 5.88%, 09/15/26 | 23 | 22,187 | ||||||||||
Murphy Oil Corp. | ||||||||||||
5.75%, 08/15/25 | 14 | 13,500 | ||||||||||
5.88%, 12/01/27 | 20 | 18,695 | ||||||||||
Murphy Oil USA, Inc., 4.75%, 09/15/29 | 109 | 96,465 | ||||||||||
Nabors Industries Ltd.(e) | ||||||||||||
7.25%, 01/15/26 | 66 | 57,428 | ||||||||||
7.50%, 01/15/28 | 78 | 63,671 | ||||||||||
Nabors Industries, Inc., 7.38%, 05/15/27(e) | 104 | 95,987 | ||||||||||
New Fortress Energy, Inc.(e) | ||||||||||||
6.75%, 09/15/25 | 383 | 362,778 | ||||||||||
6.50%, 09/30/26 | 321 | 296,572 | ||||||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26(e) | 80 | 71,169 | ||||||||||
NGPL PipeCo LLC, 7.77%, 12/15/37(e) | 186 | 187,987 | ||||||||||
Northern Oil & Gas, Inc., 8.13%, 03/01/28(e) | 298 | 279,375 | ||||||||||
NuStar Logistics LP | ||||||||||||
5.75%, 10/01/25 | 41 | 37,998 | ||||||||||
6.00%, 06/01/26 | 124 | 113,508 | ||||||||||
6.38%, 10/01/30 | 2 | 1,711 | ||||||||||
Occidental Petroleum Corp. | ||||||||||||
6.95%, 07/01/24 | 19 | 19,523 | ||||||||||
8.00%, 07/15/25 | 11 | 11,660 | ||||||||||
5.88%, 09/01/25 | 38 | 38,115 | ||||||||||
8.88%, 07/15/30 | 23 | 25,606 | ||||||||||
6.63%, 09/01/30 | 764 | 775,460 | ||||||||||
7.50%, 05/01/31 | 29 | 30,305 | ||||||||||
6.45%, 09/15/36 | 111 | 111,000 | ||||||||||
6.20%, 03/15/40 | 296 | 286,380 | ||||||||||
6.60%, 03/15/46 | 18 | 18,540 | ||||||||||
PDC Energy, Inc., 6.13%, 09/15/24 | 68 | 66,924 | ||||||||||
Permian Resources Operating LLC(e) | ||||||||||||
5.38%, 01/15/26 | 80 | 73,000 | ||||||||||
6.88%, 04/01/27 | 36 | 34,828 | ||||||||||
Range Resources Corp., 4.88%, 05/15/25 | 39 | 36,761 | ||||||||||
Rockcliff Energy II LLC, 5.50%, 10/15/29(e) | 149 | 130,461 | ||||||||||
SM Energy Co. | ||||||||||||
5.63%, 06/01/25 | 22 | 21,120 | ||||||||||
6.75%, 09/15/26 | 46 | 44,275 | ||||||||||
6.63%, 01/15/27 | 7 | 6,719 | ||||||||||
6.50%, 07/15/28 | 23 | 21,857 | ||||||||||
Southwestern Energy Co. | ||||||||||||
5.38%, 02/01/29 | 92 | 83,426 | ||||||||||
4.75%, 02/01/32 | 52 | 43,581 | ||||||||||
Sunoco LP/Sunoco Finance Corp., 5.88%, 03/15/28 | 151 | 137,024 |
SCHEDULE OF INVESTMENTS | 10 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.(e) | ||||||||||||
6.00%, 03/01/27 | USD | 14 | $ | 12,702 | ||||||||
6.00%, 12/31/30 | 10 | 8,501 | ||||||||||
6.00%, 09/01/31 | 41 | 34,645 | ||||||||||
Tap Rock Resources LLC, 7.00%, 10/01/26(e) | 245 | 223,973 | ||||||||||
Transocean, Inc., 11.50%, 01/30/27(e) | 167 | 154,465 | ||||||||||
Venture Global Calcasieu Pass LLC(e) | ||||||||||||
3.88%, 08/15/29 | 347 | 297,684 | ||||||||||
4.13%, 08/15/31 | 224 | 185,801 | ||||||||||
3.88%, 11/01/33 | 581 | 451,727 | ||||||||||
Vermilion Energy, Inc., 6.88%, 05/01/30(e) | 51 | 46,920 | ||||||||||
Western Midstream Operating LP | ||||||||||||
4.75%, 08/15/28 | 95 | 86,450 | ||||||||||
5.45%, 04/01/44 | 217 | 178,014 | ||||||||||
5.30%, 03/01/48 | 39 | 32,078 | ||||||||||
5.50%, 08/15/48 | 17 | 13,749 | ||||||||||
5.50%, 02/01/50 | 156 | 125,970 | ||||||||||
|
| |||||||||||
12,084,065 | ||||||||||||
Personal Products — 0.0% | ||||||||||||
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC, 4.75%, 01/15/29(e) | 5 | 4,230 | ||||||||||
|
| |||||||||||
Pharmaceuticals — 0.2% | ||||||||||||
Cheplapharm Arzneimittel GmbH, 4.38%, 01/15/28(a) | EUR | 100 | 80,338 | |||||||||
Elanco Animal Health, Inc., 6.40%, 08/28/28 | USD | 57 | 50,319 | |||||||||
Gruenenthal GmbH, 4.13%, 05/15/28(a) | EUR | 100 | 81,164 | |||||||||
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24(a) | 100 | 88,694 | ||||||||||
Option Care Health, Inc., 4.38%, 10/31/29(e) | USD | 79 | 66,755 | |||||||||
Organon & Co./Organon Foreign Debt Co-Issuer BV(e) | ||||||||||||
4.13%, 04/30/28 | 200 | 171,000 | ||||||||||
5.13%, 04/30/31 | 200 | 163,832 | ||||||||||
PRA Health Sciences, Inc., 2.88%, 07/15/26(e) | 200 | 175,969 | ||||||||||
Prestige Brands, Inc., 3.75%, 04/01/31(e) | 70 | 54,383 | ||||||||||
Teva Pharmaceutical Finance Netherlands II BV, 3.75%, 05/09/27 | EUR | 100 | 82,404 | |||||||||
Teva Pharmaceutical Finance Netherlands III BV, 3.15%, 10/01/26 | USD | 35 | 28,521 | |||||||||
|
| |||||||||||
1,043,379 | ||||||||||||
Real Estate — 0.0% | ||||||||||||
VICI Properties LP/VICI Note Co., Inc., 4.50%, 01/15/28(e) | 30 | 26,616 | ||||||||||
|
| |||||||||||
Real Estate Management & Development — 0.1% | ||||||||||||
Cushman & Wakefield U.S. Borrower LLC, 6.75%, 05/15/28(e) | 101 | 93,683 | ||||||||||
DIC Asset AG, 2.25%, 09/22/26(a) | EUR | 100 | 69,811 | |||||||||
Howard Hughes Corp.(e) | ||||||||||||
5.38%, 08/01/28 | USD | 2 | 1,660 | |||||||||
4.13%, 02/01/29 | 51 | 39,397 | ||||||||||
4.38%, 02/01/31 | 63 | 45,253 | ||||||||||
Realogy Group LLC/Realogy Co.-Issuer Corp.(e) 5.75%, 01/15/29 | 321 | 231,521 |
Security | Par (000) | Value | ||||||||||
Real Estate Management & Development (continued) | ||||||||||||
Realogy Group LLC/Realogy Co.-Issuer | ||||||||||||
5.25%, 04/15/30 | USD | 43 | $ | 29,201 | ||||||||
Starwood Property Trust, Inc., 4.38%, 01/15/27(e) | 25 | 21,312 | ||||||||||
WeWork Cos. LLC/WW Co.-Obligor, Inc., 5.00%, 07/10/25(e) | 70 | 40,612 | ||||||||||
|
| |||||||||||
572,450 | ||||||||||||
Road & Rail — 0.0% | ||||||||||||
Autostrade per l’Italia SpA, 2.00%, 01/15/30(a) | EUR | 100 | 73,146 | |||||||||
Seaspan Corp., 5.50%, 08/01/29(e) | USD | 101 | 79,790 | |||||||||
|
| |||||||||||
152,936 | ||||||||||||
Semiconductors & Semiconductor Equipment(e) — 0.2% | ||||||||||||
Entegris Escrow Corp., 4.75%, 04/15/29 | 514 | 452,744 | ||||||||||
Sensata Technologies BV, 4.00%, 04/15/29 | 36 | 29,790 | ||||||||||
Sensata Technologies, Inc. | ||||||||||||
4.38%, 02/15/30 | 231 | 193,003 | ||||||||||
3.75%, 02/15/31 | 49 | 38,597 | ||||||||||
Synaptics, Inc., 4.00%, 06/15/29 | 121 | 97,411 | ||||||||||
|
| |||||||||||
811,545 | ||||||||||||
Software — 0.5% | ||||||||||||
Black Knight InfoServ LLC, 3.63%, 09/01/28(e) | 122 | 104,005 | ||||||||||
Boxer Parent Co., Inc.(e) | ||||||||||||
7.13%, 10/02/25 | 148 | 145,051 | ||||||||||
9.13%, 03/01/26 | 215 | 206,615 | ||||||||||
Elastic NV, 4.13%, 07/15/29(e) | 120 | 94,781 | ||||||||||
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32(e) | 73 | 56,509 | ||||||||||
Maxar Technologies, Inc., 7.75%, 06/15/27(e) | 27 | 25,376 | ||||||||||
MicroStrategy, Inc., 6.13%, 06/15/28(e) | 144 | 118,649 | ||||||||||
MSCI, Inc.(e) | ||||||||||||
3.63%, 09/01/30 | 64 | 52,659 | ||||||||||
3.88%, 02/15/31 | 11 | 9,262 | ||||||||||
3.63%, 11/01/31 | 41 | 32,895 | ||||||||||
3.25%, 08/15/33 | 58 | 44,789 | ||||||||||
Open Text Corp.(e) | ||||||||||||
3.88%, 02/15/28 | 2 | 1,654 | ||||||||||
3.88%, 12/01/29 | 198 | 152,506 | ||||||||||
Open Text Holdings, Inc., 4.13%, 02/15/30(e) | 9 | 7,187 | ||||||||||
Picard Midco, Inc., 6.50%, 03/31/29 | 643 | 543,142 | ||||||||||
Playtika Holding Corp., 4.25%, 03/15/29(e) | 174 | 139,155 | ||||||||||
PTC, Inc., 4.00%, 02/15/28(e) | 80 | 69,967 | ||||||||||
SS&C Technologies, Inc., 5.50%, 09/30/27(e) | 398 | 363,053 | ||||||||||
Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25(e) | 203 | 155,466 | ||||||||||
|
| |||||||||||
2,322,721 | ||||||||||||
Specialty Retail(e) — 0.1% | ||||||||||||
Arko Corp., 5.13%, 11/15/29 | 58 | 45,240 | ||||||||||
Carvana Co., 10.25%, 05/01/30 | 53 | 35,377 | ||||||||||
PetSmart, Inc./PetSmart Finance Corp., 7.75%, 02/15/29 | 253 | 226,167 | ||||||||||
Staples, Inc., 7.50%, 04/15/26 | 82 | 68,848 | ||||||||||
|
| |||||||||||
375,632 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.0% | ||||||||||||
Coherent Corp., 5.00%, 12/15/29(e) | 189 | 156,341 | ||||||||||
|
|
11 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Textiles, Apparel & Luxury Goods(e) — 0.0% |
| |||||||||||
Crocs, Inc. | ||||||||||||
4.25%, 03/15/29 | USD | 11 | $ | 8,745 | ||||||||
4.13%, 08/15/31 | 49 | 37,298 | ||||||||||
Kontoor Brands, Inc., 4.13%, 11/15/29 | 32 | 25,495 | ||||||||||
Levi Strauss & Co., 3.50%, 03/01/31 | 78 | 60,840 | ||||||||||
|
| |||||||||||
132,378 | ||||||||||||
Thrifts & Mortgage Finance — 0.1% | ||||||||||||
Enact Holdings, Inc., 6.50%, 08/15/25(e) | 129 | 123,284 | ||||||||||
Home Point Capital, Inc., 5.00%, 02/01/26(e) | 58 | 36,323 | ||||||||||
MGIC Investment Corp., 5.25%, 08/15/28 | 47 | 41,989 | ||||||||||
Nationstar Mortgage Holdings, Inc.(e) | ||||||||||||
6.00%, 01/15/27 | 54 | 46,102 | ||||||||||
5.13%, 12/15/30 | 34 | 24,657 | ||||||||||
5.75%, 11/15/31 | 32 | 23,468 | ||||||||||
Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc., 2.88%, 10/15/26(e) | 98 | 80,360 | ||||||||||
|
| |||||||||||
376,183 | ||||||||||||
Utilities(e) — 0.1% | ||||||||||||
Consensus Cloud Solutions, Inc. | ||||||||||||
6.00%, 10/15/26 | 23 | 20,267 | ||||||||||
6.50%, 10/15/28 | 20 | 16,977 | ||||||||||
Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 08/15/28 | 42 | 36,412 | ||||||||||
Vistra Operations Co. LLC | ||||||||||||
5.50%, 09/01/26 | 5 | 4,638 | ||||||||||
5.63%, 02/15/27 | 99 | 92,689 | ||||||||||
5.00%, 07/31/27 | 5 | 4,516 | ||||||||||
4.38%, 05/01/29 | 45 | 37,428 | ||||||||||
|
| |||||||||||
212,927 | ||||||||||||
Wireless Telecommunication Services — 0.4% | ||||||||||||
Altice France SA(e) | ||||||||||||
8.13%, 02/01/27 | 334 | 298,512 | ||||||||||
5.50%, 01/15/28 | 229 | 181,343 | ||||||||||
5.50%, 10/15/29 | 200 | 150,477 | ||||||||||
SBA Communications Corp. | ||||||||||||
3.13%, 02/01/29 | 49 | 39,409 | ||||||||||
3.88%, 02/15/27 | 410 | 363,633 | ||||||||||
T-Mobile USA, Inc. | ||||||||||||
3.38%, 04/15/29 | 67 | 57,887 | ||||||||||
3.50%, 04/15/31 | 26 | 21,848 | ||||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 6.50%, 02/15/29(e) | 97 | 65,010 | ||||||||||
VICI Properties LP/VICI Note Co., Inc.(e) | ||||||||||||
3.50%, 02/15/25 | 34 | 31,428 | ||||||||||
4.63%, 06/15/25 | 161 | 151,505 | ||||||||||
4.50%, 09/01/26 | 3 | 2,740 | ||||||||||
4.25%, 12/01/26 | 6 | 5,416 | ||||||||||
4.63%, 12/01/29 | 64 | 55,523 | ||||||||||
4.13%, 08/15/30 | 88 | 73,499 | ||||||||||
Vmed O2 U.K. Financing I PLC, 4.75%, 07/15/31(e) | 200 | 154,299 | ||||||||||
|
| |||||||||||
1,652,529 | ||||||||||||
|
| |||||||||||
Total Corporate Bonds — 20.6% | 97,865,703 | |||||||||||
|
|
Security | Par (000) | Value | ||||||||||
Floating Rate Loan Interests(g) |
| |||||||||||
Aerospace & Defense — 3.7% | ||||||||||||
Atlas CC Acquisition Corp. | ||||||||||||
Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 7.32%, 05/25/28 | USD | 2,462 | $ | 2,152,827 | ||||||||
Term Loan C, (3 mo. LIBOR + 4.25%, 0.75% Floor), 7.32%, 05/25/28 | 501 | 437,864 | ||||||||||
Bleriot U.S. Bidco, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.00%), 4.00%, 10/31/26 | 810 | 781,374 | ||||||||||
Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, (6 mo. LIBOR + 3.75%, 0.50% Floor), 7.06%, 08/03/29 | 326 | 311,330 | ||||||||||
Dynasty Acquisition Co., Inc. | ||||||||||||
2020 CAD Term Loan B2, (1 mo. LIBOR + 3.50%), 6.62%, 04/06/26 | 1,507 | 1,386,252 | ||||||||||
2020 Term Loan B1, (1 mo. LIBOR + 3.50%), 6.62%, 04/06/26 | 2,802 | 2,578,675 | ||||||||||
Nordam Group, Inc., Term Loan B, (1 mo. LIBOR + 5.50%), 8.63%, 04/09/26(c) | 764 | 588,496 | ||||||||||
Peraton Corp. | ||||||||||||
2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 10.57%, 02/01/29 | 1,474 | 1,390,302 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.87%, 02/01/28 | 5,061 | 4,787,805 | ||||||||||
Spirit Aerosystems, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.50% Floor), 6.87%, 01/15/25 | . | 877 | 866,743 | |||||||||
TransDigm, Inc., 2020 Term Loan F, (3 mo. LIBOR + 2.25%), 5.92%, 12/09/25 | 2,375 | 2,272,108 | ||||||||||
|
| |||||||||||
17,553,776 | ||||||||||||
Air Freight & Logistics — 0.3% | ||||||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.04%, 04/06/28 | 511 | 465,503 | ||||||||||
Kestrel Bidco, Inc., Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.99%, 12/11/26 | 365 | 320,383 | ||||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%, 0.50% Floor), 7.37%, 12/15/28 | 837 | 712,428 | ||||||||||
|
| |||||||||||
1,498,314 | ||||||||||||
Airlines — 2.5% | ||||||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.46%, 04/20/28 | 1,434 | 1,386,429 | ||||||||||
Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 6.42%, 08/11/28 | 1,798 | 1,706,399 | ||||||||||
American Airlines, Inc. | ||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 4.87%, 01/29/27 | 147 | 135,096 | ||||||||||
2017 Incremental Term Loan, (1 mo. LIBOR + 2.00%), 4.82%, 12/15/23 | 1,785 | 1,759,409 | ||||||||||
2018 Term Loan B, (1 mo. LIBOR + 1.75%), 4.83%, 06/27/25 | 860 | 832,797 | ||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 8.78%, 06/21/27 | 2,862 | 2,869,154 | ||||||||||
United Airlines, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.53%, 04/21/28 | 3,270 | 3,115,323 | ||||||||||
|
| |||||||||||
11,804,607 |
SCHEDULE OF INVESTMENTS | 12 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Auto Components — 2.2% | ||||||||||||
Adient U.S. LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 6.37%, 04/10/28 | USD | 719 | $ | 677,117 | ||||||||
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 6.37%, 04/30/26 | 3,217 | 3,035,719 | ||||||||||
Truck Hero, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.75% Floor), 6.62%, 01/31/28 | 22 | 18,830 | ||||||||||
USI, Inc. | ||||||||||||
2017 Repriced Term Loan, (3 mo. LIBOR + 2.75%), 6.42%, 05/16/24 | 4,313 | 4,191,441 | ||||||||||
2019 Incremental Term Loan B, (3 mo. LIBOR + 3.25%), 6.92%, 12/02/26 | 246 | 236,412 | ||||||||||
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 6.12%, 02/05/26 | 2,284 | 2,111,893 | ||||||||||
|
| |||||||||||
10,271,412 | ||||||||||||
Banks — 0.7% | ||||||||||||
Directv Financing LLC, Term Loan, (1 mo. LIBOR + 5.00%, 0.75% Floor), 8.12%, 08/02/27 | 2,110 | 1,960,502 | ||||||||||
LABL, Inc., 2021 USD 1st Lien Term Loan, (1 mo. LIBOR + 5.00%, 0.50% Floor), 8.12%, 10/29/28 | . | 1,408 | 1,266,423 | |||||||||
|
| |||||||||||
3,226,925 | ||||||||||||
Beverages — 0.6% | ||||||||||||
Naked Juice LLC | ||||||||||||
2nd Lien Term Loan, (3 mo. SOFR + 6.00%, 0.50% Floor), 9.65%, 01/24/30 | 1,030 | 931,930 | ||||||||||
Term Loan, (3 mo. SOFR + 3.25%, 0.50% Floor), 6.90%, 01/24/29 | 2,199 | 2,011,153 | ||||||||||
|
| |||||||||||
2,943,083 | ||||||||||||
Building Materials — 0.0% | ||||||||||||
Cornerstone Building Brands, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 6.07%, 04/12/28 | 314 | 256,784 | ||||||||||
|
| |||||||||||
Building Products — 1.7% | ||||||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.50% Floor), 6.62%, 11/23/27 | 1,277 | 1,107,329 | ||||||||||
CPG International LLC, 2022 Term Loan B, (6 mo. SOFR CME + 2.50%, 0.50% Floor), 4.09%, 04/28/29(c) | 707 | 680,487 | ||||||||||
Jeld-Wen, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 5.37%, 07/28/28 | 721 | 668,051 | ||||||||||
LSF10 XL Bidco SCA, 2021 EUR Term Loan B4, (3 mo. EURIBOR + 3.67%), 4.87%, 04/12/28 | EUR | 853 | 668,461 | |||||||||
New AMI I LLC, 2022 Term Loan B, (1 mo. SOFR + 6.00%, 0.50% Floor), 9.03%, 03/08/29(c) | USD | 737 | 648,613 | |||||||||
Standard Industries, Inc., 2021 Term Loan B, (6 mo. LIBOR + 2.50%, 0.50% Floor), 6.68%, 09/22/28 | . | 1,421 | 1,375,692 | |||||||||
Wilsonart LLC, 2021 Term Loan E, (3 mo. LIBOR + 3.25%, 1.00% Floor), 6.93%, 12/31/26 | 3,031 | 2,752,671 | ||||||||||
|
| |||||||||||
7,901,304 | ||||||||||||
Capital Markets — 2.5% | ||||||||||||
AqGen Ascensus, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.50%, 0.50% Floor), 8.81%, 08/02/29 | 2,373 | 2,123,477 | ||||||||||
Deerfield Dakota Holding LLC | ||||||||||||
2020 USD Term Loan B, (1 mo. SOFR CME + 3.75%, 1.00% Floor), 6.78%, 04/09/27 | 5,650 | 5,320,804 |
Security | Par (000) | Value | ||||||||||
Capital Markets (continued) | ||||||||||||
Deerfield Dakota Holding LLC (continued) | ||||||||||||
2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 0.75% Floor), 9.87%, 04/07/28(c) | USD | 1,594 | $ | 1,538,210 | ||||||||
Eagle Broadband Investments LLC, Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 6.69%, 11/12/27 | 1,335 | 1,271,610 | ||||||||||
FinCo I LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.50%), 5.62%, 06/27/25 | — | (l) | 182 | |||||||||
Focus Financial Partners LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.50%, 0.50% Floor), 5.62%, 06/30/28 | 1,296 | 1,252,590 | ||||||||||
Greenhill & Co., Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 6.32%, 04/12/24(c) | 521 | 507,400 | ||||||||||
|
| |||||||||||
12,014,273 | ||||||||||||
Chemicals — 4.0% | ||||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (6 mo. SOFR CME + 4.75%, 0.75% Floor), 8.83%, 08/27/26 | 2,907 | 2,840,666 | ||||||||||
Axalta Coating Systems U.S. Holdings, Inc., USD Term Loan B3, (3 mo. LIBOR + 1.75%), 5.42%, 06/01/24 | 600 | 590,505 | ||||||||||
CPC Acquisition Corp., Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 7.42%, 12/29/27 | 645 | 500,546 | ||||||||||
Discovery Purchaser Corp., 10/04/29(m) | 1,143 | 1,042,987 | ||||||||||
Element Solutions, Inc., 2019 Term Loan B1, (1 mo. LIBOR + 2.00%), 5.12%, 01/31/26 | 1,750 | 1,734,752 | ||||||||||
Illuminate Buyer LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%), 6.62%, 06/30/27 | 1,230 | 1,111,352 | ||||||||||
Lonza Group AG, USD Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 7.67%, 07/03/28 | 946 | 839,812 | ||||||||||
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 6.17%, 03/02/26 | 2,732 | 2,607,195 | ||||||||||
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 6.37%, 05/15/24 | 1,326 | 1,284,818 | ||||||||||
Oxea Holding Drei GmbH, 2017 USD Term Loan B2, (1 mo. LIBOR + 3.25%), 5.94%, 10/14/24 | 1,520 | 1,371,585 | ||||||||||
PQ Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.50%, 0.50% Floor), 5.31%, 06/09/28 | 1,527 | 1,451,868 | ||||||||||
Pregis TopCo Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 4.00%, 0.50% Floor), 6.81%, 07/31/26(c) | 618 | 585,856 | ||||||||||
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.81%, 03/16/27 | 934 | 865,225 | ||||||||||
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1 mo. LIBOR + 3.25%, 0.75% Floor), 5.80%, 08/02/28 | 1,437 | 1,360,336 | ||||||||||
Starfruit Finco BV, 2018 USD Term Loan B, (1 mo. LIBOR + 2.75%), 5.87%, 10/01/25 | 329 | 307,751 | ||||||||||
W.R. Grace Holdings LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.50% Floor), 7.44%, 09/22/28 | 471 | 440,205 | ||||||||||
|
| |||||||||||
18,935,459 | ||||||||||||
Commercial Services & Supplies — 3.9% | ||||||||||||
Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, (1 mo. LIBOR + 3.75%, 0.50% Floor), 6.87%, 05/12/28 | 2,310 | 2,025,795 |
13 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Commercial Services & Supplies (continued) |
| |||||||||||
Amentum Government Services Holdings LLC, 2022 Term Loan, (3 mo. SOFR CME + 4.00%), 7.39%, 02/15/29(c) | USD | 687 | $ | 654,632 | ||||||||
Asurion LLC | ||||||||||||
2018 Term Loan B7, (1 mo. LIBOR + 3.00%), 6.12%, 11/03/24 | 909 | 848,617 | ||||||||||
2021 2nd Lien Term Loan B3, (1 mo. LIBOR + 5.25%), 8.37%, 01/31/28 | 986 | 739,038 | ||||||||||
2021 2nd Lien Term Loan B4, (1 mo. LIBOR + 5.25%), 8.37%, 01/20/29 | 1,402 | 1,065,520 | ||||||||||
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.00%), 5.12%, 10/08/28 | 613 | 607,360 | ||||||||||
Covanta Holding Corp. | ||||||||||||
2021 Term Loan B, (1 mo. LIBOR + 2.50%, 0.50% Floor), 5.62%, 11/30/28 | 994 | 962,205 | ||||||||||
2021 Term Loan C, (1 mo. LIBOR + 2.50%, 0.50% Floor), 5.62%, 11/30/28 | 75 | 72,437 | ||||||||||
Creative Artists Agency LLC, 2020 Incremental Term Loan B1, (1 mo. LIBOR + 4.25%, 1.00% Floor), 7.37%, 11/27/26 | 1,698 | 1,670,027 | ||||||||||
Dealer Tire LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 7.37%, 12/12/25 | 2,660 | 2,583,319 | ||||||||||
EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 7.42%, 05/09/25 | 433 | 399,717 | ||||||||||
Packers Holdings LLC, 2021 Term Loan, (1 mo. LIBOR + 3.25%, 0.75% Floor), 6.01%, 03/09/28 | 1,471 | 1,347,086 | ||||||||||
Prime Security Services Borrower LLC, 2021 Term Loan, (1 mo. LIBOR + 2.75%, 0.75% Floor), 5.30%, 09/23/26 | 1,483 | 1,430,461 | ||||||||||
Vericast Corp., 2021 Term Loan, (3 mo. LIBOR + 7.75%, 1.00% Floor), 11.42%, 06/16/26 | 377 | 260,785 | ||||||||||
Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 7.12%, 08/27/25 | 3,238 | 3,133,088 | ||||||||||
Viad Corp., Initial Term Loan, (1 mo. LIBOR + 5.00%, 0.50% Floor), 8.12%, 07/30/28 | 689 | 649,992 | ||||||||||
|
| |||||||||||
18,450,079 | ||||||||||||
Communications Equipment — 0.4% | ||||||||||||
ViaSat, Inc., Term Loan, (1 mo. SOFR CME + 4.50%, 0.50% Floor), 7.65%, 03/02/29 | 2,192 | 1,937,535 | ||||||||||
|
| |||||||||||
Construction & Engineering — 1.7% | ||||||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 6.95%, 06/21/24 | 3,197 | 2,774,287 | ||||||||||
New Arclin U.S. Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%, 0.50% Floor), 10.12%, 09/30/29(c) | 815 | 766,100 | ||||||||||
Pike Corp., 2021 Incremental Term Loan B, (1 mo. LIBOR + 3.00%), 6.12%, 01/21/28 | 925 | 895,968 | ||||||||||
SRS Distribution, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 6.31%, 06/02/28 | 2,416 | 2,224,309 | ||||||||||
USIC Holdings, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 6.62%, 05/12/28 | 1,549 | 1,448,080 | ||||||||||
|
| |||||||||||
8,108,744 | ||||||||||||
Construction Materials — 1.5% | ||||||||||||
Core & Main LP, 2021 Term Loan B, (3 mo. LIBOR + 2.50%), 5.58%, 07/27/28 | 3,569 | 3,403,336 | ||||||||||
Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 6.12%, 03/29/25 | 2,105 | 2,017,542 |
Security | Par (000) | Value | ||||||||||
Construction Materials (continued) | ||||||||||||
Oscar AcquisitionCo, LLC, Term Loan B, (3 mo. SOFR CME + 4.50%, 0.50% Floor), 8.15%, 04/29/29 | USD | 961 | $ | 878,517 | ||||||||
Tamko Building Products LLC, Term Loan B, (3 mo. LIBOR + 3.00%), 6.08%, 06/01/26 | 764 | 719,949 | ||||||||||
|
| |||||||||||
7,019,344 | ||||||||||||
Containers & Packaging — 1.3% | ||||||||||||
BWAY Holding Co., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 5.81%, 04/03/24 | 2,213 | 2,056,558 | ||||||||||
Charter Next Generation, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.56%, 12/01/27 | 1,977 | 1,871,983 | ||||||||||
Pregis TopCo Corp., 1st Lien Term Loan, (3 mo. LIBOR + 4.00%), 6.81%, 07/31/26 | 542 | 514,594 | ||||||||||
Tosca Services LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 6.65%, 08/18/27 | 1,031 | 903,151 | ||||||||||
Trident TPI Holdings, Inc. | ||||||||||||
2021 Delayed Draw Term Loan, (3 mo. LIBOR + 4.00%, 0.50% Floor), 6.30%, 09/15/28 | 79 | 74,732 | ||||||||||
2021 Incremental Term Loan, (3 mo. LIBOR + 4.00%, 0.50% Floor), 7.67%, 09/15/28 | 886 | 838,170 | ||||||||||
|
| |||||||||||
6,259,188 | ||||||||||||
Distributors — 0.8% | ||||||||||||
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. LIBOR + 2.00%), 5.12%, 01/15/27 | 1,059 | 1,023,728 | ||||||||||
TMK Hawk Parent Corp.(c) | ||||||||||||
2020 Super Priority First Out Term Loan A, (3 mo. LIBOR + 9.50%, 1.00% Floor), 12.57%, 05/30/24 | 1,006 | 925,845 | ||||||||||
2020 Super Priority Second Out Term Loan B, (3 mo. LIBOR + 3.50%, 1.00% Floor), 6.57%, 08/28/24 | 3,221 | 1,691,130 | ||||||||||
|
| |||||||||||
3,640,703 | ||||||||||||
Diversified Consumer Services — 2.5% | ||||||||||||
2U, Inc., Term Loan, (1 mo. LIBOR + 5.75%, 0.75% Floor), 8.87%, 12/30/24 | 1,261 | 1,199,247 | ||||||||||
Ascend Learning LLC | ||||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%, 0.50% Floor), 8.87%, 12/10/29 | 681 | 589,494 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.50% Floor), 6.62%, 12/11/28 | 1,692 | 1,558,528 | ||||||||||
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%, 0.50% Floor), 5.37%, 11/24/28 | 814 | 785,365 | ||||||||||
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.87%, 07/11/25 | 2,589 | 2,505,968 | ||||||||||
Nomad Foods Europe Midco Ltd., 2017 USD Term Loan B4, (3 mo. LIBOR + 2.25%), 5.16%, 05/15/24 | 1,098 | 1,039,045 | ||||||||||
OLA Netherlands BV, Term Loan, (1 mo. SOFR CME + 6.25%, 0.75% Floor), 9.20%, 12/15/26 | 757 | 718,235 | ||||||||||
PAI Holdco, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.56%, 10/28/27 | 679 | 641,943 | ||||||||||
Serta Simmons Bedding LLC 2020 Super Priority First Out Term Loan, (1 mo. LIBOR + 7.50%), 10.79%, 08/10/23 | 414 | 400,435 |
SCHEDULE OF INVESTMENTS | 14 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Diversified Consumer Services (continued) |
| |||||||||||
Serta Simmons Bedding LLC (continued) | ||||||||||||
2020 Super Priority Second Out Term Loan, (1 mo. LIBOR + 7.50%, 1.00% Floor), 10.79%, 08/10/23 | USD | 847 | $ | 441,677 | ||||||||
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR + 4.50%, 0.50% Floor), 7.01%, 01/15/27 | 1,662 | 1,604,102 | ||||||||||
Voyage Australia Pty. Ltd., USD Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 6.21%, 07/20/28 | 652 | 626,725 | ||||||||||
|
| |||||||||||
12,110,764 | ||||||||||||
Diversified Financial Services — 6.3% | ||||||||||||
Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 7.62%, 07/31/26 | 916 | 869,692 | ||||||||||
Alchemy Copyrights LLC, Term Loan B, (1 mo. LIBOR + 3.00%, 0.50% Floor), 5.56%, 03/10/28(c) | 748 | 727,210 | ||||||||||
AlixPartners LLP, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%, 0.50% Floor), 5.87%, 02/04/28 | 1,528 | 1,464,408 | ||||||||||
AqGen Island Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%, 0.50% Floor), 7.19%, 08/02/28(c) | 3,107 | 2,819,751 | ||||||||||
Castlelake Aviation Ltd., Term Loan B, (3 mo. LIBOR + 2.75%, 0.50% Floor), 6.04%, 10/22/26 | 2,042 | 1,970,510 | ||||||||||
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.50%, 0.50% Floor), 5.62%, 09/01/28 | 1,387 | 1,337,409 | ||||||||||
Delta TopCo, Inc. | ||||||||||||
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 10.33%, 12/01/28 | 595 | 520,625 | ||||||||||
2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.83%, 12/01/27 | 1,505 | 1,359,200 | ||||||||||
EG America LLC, 2018 USD Term Loan, (3 mo. LIBOR + 4.00%), 7.67%, 02/07/25 | 1,140 | 1,061,057 | ||||||||||
Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 7.67%, 10/01/27 | 2,829 | 2,689,674 | ||||||||||
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (3 mo. SOFR CME + 4.00%, 0.50% Floor), 7.70%, 02/16/28 | 380 | 363,437 | ||||||||||
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 6.62%, 07/03/24 | 1,318 | 1,268,785 | ||||||||||
KKR Apple Bidco LLC | ||||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%, 0.50% Floor), 8.87%, 09/21/29 | 218 | 207,826 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 2.75%, 0.50% Floor), 5.87%, 09/23/28 | 530 | 504,932 | ||||||||||
LBM Acquisition LLC, Term Loan B, (6 mo. LIBOR + 3.75%, 0.75% Floor), 7.12%, 12/17/27 | 438 | 381,268 | ||||||||||
Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 6.37%, 09/25/26 | 1,901 | 1,754,351 | ||||||||||
RVR Dealership Holdings LLC, Term Loan B, (1 mo. SOFR + 3.75%, 0.75% Floor), 6.87%, 02/08/28 | 641 | 563,609 | ||||||||||
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3 mo. LIBOR + 2.00%), 5.67%, 11/05/28 | 1,175 | 1,145,625 |
Security | Par (000) | Value | ||||||||||
Diversified Financial Services (continued) | ||||||||||||
SMG U.S. Midco 2, Inc., 2020 Term Loan, (1 mo. LIBOR + 2.50%), 5.62%, 01/23/25 | USD | 1,704 | $ | 1,621,444 | ||||||||
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 7.92%, 07/30/25 | 918 | 871,824 | ||||||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 8.67%, 09/01/25 | 3,335 | 2,633,258 | ||||||||||
VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 6.12%, 02/28/27 | 1,296 | 1,251,965 | ||||||||||
White Cap Buyer LLC, Term Loan B, (1 mo. SOFR CME + 3.75%), 6.78%, 10/19/27 | 1,092 | 1,019,307 | ||||||||||
Ziggo Financing Partnership, USD Term Loan I, (1 mo. LIBOR + 2.50%), 5.32%, 04/30/28 | 1,876 | 1,787,828 | ||||||||||
|
| |||||||||||
30,194,995 | ||||||||||||
Diversified Telecommunication Services — 1.5% | ||||||||||||
Cablevision Lightpath LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 6.07%, 11/30/27 | 501 | 478,842 | ||||||||||
Consolidated Communications, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.75% Floor), 6.63%, 10/02/27 | 713 | 613,707 | ||||||||||
Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 7.44%, 05/01/28 | 1,757 | 1,625,819 | ||||||||||
Iridium Satellite LLC, 2021 Term Loan B2, (1 mo. LIBOR + 2.50%, 0.75% Floor), 5.62%, 11/04/26 | 1,693 | 1,643,054 | ||||||||||
Level 3 Financing, Inc., 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 4.87%, 03/01/27 | 1,299 | 1,231,915 | ||||||||||
Virgin Media SFA Finance Ltd., GBP Term Loan L, (1 mo. SONIA + 3.25%), 4.97%, 01/15/27 | GBP | 1,400 | 1,388,423 | |||||||||
|
| |||||||||||
6,981,760 | ||||||||||||
Electric Utilities — 0.7% | ||||||||||||
ExGen Renewables IV LLC, 2020 Term Loan, (3 mo. LIBOR + 2.50%, 1.00% Floor), 5.57%, 12/15/27 | USD | 1,110 | 1,084,490 | |||||||||
Triton Water Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%, 0.50% Floor), 7.17%, 03/31/28 | 2,805 | 2,510,830 | ||||||||||
|
| |||||||||||
3,595,320 | ||||||||||||
Electrical Equipment — 0.7% | ||||||||||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (6 mo. LIBOR + 4.75%, 0.75% Floor), 7.00%, 06/23/28(c) | 1,341 | 1,239,926 | ||||||||||
AZZ, Inc., Term Loan B, (1 mo. SOFR CME + 4.25%, 0.50% Floor), 7.08%, 05/13/29 | 285 | 232,312 | ||||||||||
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.50%, 0.75% Floor), 5.62%, 03/31/27 | 2,141 | 2,052,751 | ||||||||||
|
| |||||||||||
3,524,989 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.3% | ||||||||||||
Coherent Corp., 2022 Term Loan B, (1 mo. LIBOR + 2.75%, 0.50% Floor), 5.31%, 07/02/29 | 1,519 | 1,468,372 | ||||||||||
|
| |||||||||||
Environmental, Maintenance & Security Service — 0.6% | ||||||||||||
Asplundh Tree Expert LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%), 4.87%, 09/07/27 | 1,740 | 1,692,290 | ||||||||||
TruGreen LP, 2020 Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 7.12%, 11/02/27 | 1,070 | 1,008,715 | ||||||||||
|
| |||||||||||
2,701,005 |
15 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.1% |
| |||||||||||
RHP Hotel Properties LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 5.12%, 05/11/24 | USD | 270 | $ | 264,885 | ||||||||
|
| |||||||||||
Food & Staples Retailing — 0.3% | ||||||||||||
U.S. Foods, Inc. | ||||||||||||
2019 Term Loan B, (1 mo. LIBOR + 2.00%), 5.12%, 09/13/26 | 734 | 710,756 | ||||||||||
2021 Term Loan B, (1 mo. LIBOR + 2.75%), 5.87%, 11/22/28 | 856 | 834,235 | ||||||||||
|
| |||||||||||
1,544,991 | ||||||||||||
Food Products — 2.3% | ||||||||||||
8th Avenue Food & Provisions, Inc. | ||||||||||||
2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.87%, 10/01/25 | 1,181 | 1,029,955 | ||||||||||
2021 Incremental Term Loan, (1 mo. LIBOR + 4.75%, 0.75% Floor), 7.87%, 10/01/25 | 1,338 | 1,175,331 | ||||||||||
Chobani LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 6.62%, 10/25/27 | 2,445 | 2,220,222 | ||||||||||
Froneri International Ltd., 2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 5.37%, 01/29/27 | 3,263 | 3,073,343 | ||||||||||
Reynolds Group Holdings, Inc., 2020 Term Loan B2, (1 mo. LIBOR + 3.25%), 6.37%, 02/05/26 | 1,673 | 1,597,603 | ||||||||||
Sovos Brands Intermediate, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 6.62%, 06/08/28 | 1,345 | 1,277,591 | ||||||||||
UTZ Quality Foods LLC, 2021 Term Loan B, (1 mo. SOFR CME + 3.00%), 6.15%, 01/20/28 | 605 | 585,552 | ||||||||||
|
| |||||||||||
10,959,597 | ||||||||||||
Gas Utilities — 0.6% | ||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 6.21%, 12/21/28 | 2,900 | 2,678,507 | ||||||||||
|
| |||||||||||
Health Care Equipment & Supplies — 1.4% | ||||||||||||
Electron BidCo, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.00%, 0.50% Floor), 6.12%, 11/01/28 | 1,924 | 1,819,671 | ||||||||||
Insulet Corp., Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 6.37%, 05/04/28 | 676 | 657,835 | ||||||||||
Medline Borrower LP, USD Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 6.37%, 10/23/28 | 3,762 | 3,452,683 | ||||||||||
Venga Finance SARL, 2021 USD Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.82%, 12/04/28(c) | 570 | 524,166 | ||||||||||
|
| |||||||||||
6,454,355 | ||||||||||||
Health Care Providers & Services — 2.6% | ||||||||||||
CCRR Parent, Inc., Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.87%, 03/06/28 | 1,402 | 1,347,309 | ||||||||||
CHG Healthcare Services, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.25%, 0.50% Floor), 6.37%, 09/29/28 | 901 | 863,549 | ||||||||||
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 7.46%, 01/08/27 | 1,407 | 1,323,819 | ||||||||||
Envision Healthcare Corp. | ||||||||||||
2022 1st Out Term Loan, (3 mo. SOFR CME + 7.88%, 1.00% Floor), 10.53%, 03/31/27 | 210 | 201,384 | ||||||||||
2022 2nd Out Term Loan, (3 mo. SOFR CME + 4.25%, 1.00% Floor), 6.83%, 03/31/27 | 1,403 | 610,531 |
Security | Par (000) | Value | ||||||||||
Health Care Providers & Services (continued) |
| |||||||||||
EyeCare Partners LLC | ||||||||||||
2020 Term Loan, (3 mo. LIBOR + 3.75%), 7.42%, 02/18/27 | USD | 1,940 | $ | 1,755,560 | ||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%, 0.50% Floor), 10.42%, 11/15/29 | 508 | 461,964 | ||||||||||
2021 Incremental Term Loan, (3 mo. LIBOR + 3.75%, 0.50% Floor), 7.42%, 11/15/28(c) | 469 | 437,295 | ||||||||||
Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.50%), 8.17%, 03/05/26 | 930 | 822,257 | ||||||||||
Orbcomm, Inc., Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 7.34%, 09/01/28 | 765 | 698,908 | ||||||||||
PetVet Care Centers LLC, 2021 Term Loan B3, (1 mo. LIBOR + 3.50%, 0.75% Floor), 6.62%, 02/14/25 | 46 | 42,531 | ||||||||||
Sotera Health Holdings LLC, 2021 Term Loan, (1 mo. LIBOR + 2.75%, 0.50% Floor), 5.87%, 12/11/26 | 2,247 | 1,966,125 | ||||||||||
Vizient, Inc., 2022 Term Loan B, (1 mo. SOFR CME + 2.25%, 0.50% Floor), 5.37%, 04/28/29 | 293 | 291,617 | ||||||||||
WP CityMD Bidco LLC, 2021 1st Lien Term Loan B, (3 mo. LIBOR + 3.25%, 0.50% Floor), 6.92%, 12/22/28 | 1,604 | 1,530,606 | ||||||||||
|
| |||||||||||
12,353,455 | ||||||||||||
Health Care Services — 0.3% | ||||||||||||
Azalea Topco, Inc., Term Loan, (1 mo. LIBOR + 3.50%), 6.62%, 07/24/26 | 849 | 770,471 | ||||||||||
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%, 0.50% Floor), 9.88%, 11/01/29(c) | 536 | 509,200 | ||||||||||
|
| |||||||||||
1,279,671 | ||||||||||||
Health Care Technology — 2.9% | ||||||||||||
Athenahealth, Inc., 2022 Term Loan B, (1 mo. SOFR CME + 3.50%, 0.50% Floor), 6.58%, 02/15/29 | 2,517 | 2,250,586 | ||||||||||
Change Healthcare Holdings LLC, 2017 Term Loan B, (PRIME + 1.50%), 7.75%, 03/01/24 | 2,997 | 2,984,914 | ||||||||||
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 5.87%, 10/10/25 | 623 | 594,252 | ||||||||||
IQVIA, Inc., 2017 USD Term Loan B1, (1 mo. LIBOR + 1.75%), 4.87%, 03/07/24 | 266 | 265,205 | ||||||||||
Polaris Newco LLC, USD Term Loan B, (1 mo. LIBOR + 4.00%, 0.50% Floor), 7.67%, 06/02/28 . | 3,263 | 3,004,232 | ||||||||||
Press Ganey Holdings, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.87%, 07/24/26 | 2,316 | 2,104,837 | ||||||||||
Verscend Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%, 0.50% Floor), 10.12%, 04/02/29(c) | 2,740 | 2,657,800 | ||||||||||
|
| |||||||||||
13,861,826 | ||||||||||||
Hotels, Restaurants & Leisure — 6.0% | ||||||||||||
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 4.87%, 11/19/26 | 2,715 | 2,590,485 | ||||||||||
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 6.87%, 02/02/26 | 240 | 210,724 | ||||||||||
Aristocrat Technologies, Inc., 2022 Term Loan B, (3 mo. SOFR CME + 2.25%, 0.50% Floor), 5.90%, 05/24/29 | 87 | 86,363 |
SCHEDULE OF INVESTMENTS | 16 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Hotels, Restaurants & Leisure (continued) |
| |||||||||||
Caesars Resort Collection LLC | ||||||||||||
2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 5.87%, 12/23/24 | USD | 1,532 | $ | 1,493,870 | ||||||||
2020 Term Loan B1, (1 mo. LIBOR + 3.50%), 6.62%, 07/21/25 | 607 | 596,932 | ||||||||||
Carnival Corp., USD Term Loan B, (6 mo. LIBOR + 3.00%, 0.75% Floor), 5.88%, 06/30/25 | 1,241 | 1,123,576 | ||||||||||
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1 mo. LIBOR + 2.00%), 5.12%, 03/17/28 | 686 | 662,710 | ||||||||||
ECL Entertainment LLC, Term Loan, (1 mo. LIBOR + 7.50%, 0.75% Floor), 10.62%, 05/01/28 | 810 | 797,604 | ||||||||||
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 6.67%, 03/08/24 | 3,346 | 2,524,942 | ||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (1 mo. SOFR + 4.00%, 0.50% Floor), 7.03%, 01/27/29 | 3,270 | 3,028,417 | ||||||||||
Flutter Financing BV, 2022 USD Term Loan B, 0.00%, 07/29/28(m) | 1,016 | 990,437 | ||||||||||
Four Seasons Hotels Ltd., New 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 5.12%, 11/30/23 | 873 | 867,751 | ||||||||||
IRB Holding Corp., 2020 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.87%, 02/05/25 | 1,374 | 1,325,900 | ||||||||||
Penn National Gaming, Inc., 2022 Term Loan B, (1 mo. SOFR CME + 2.75%, 0.50% Floor), 5.88%, 05/03/29 | 1,285 | 1,232,782 | ||||||||||
Playtika Holding Corp., 2021 Term Loan, (1 mo. LIBOR + 2.75%), 5.87%, 03/13/28 | 1,509 | 1,442,434 | ||||||||||
Scientific Games International, Inc., 2022 USD Term Loan, (1 mo. SOFR CME + 3.00%, 0.50% Floor), 5.91%, 04/14/29 | 709 | 687,591 | ||||||||||
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 2.25%), 5.89%, 07/21/26 | 1,048 | 1,006,462 | ||||||||||
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%, 0.25% Floor), 5.37%, 02/08/27 | 1,963 | 1,874,503 | ||||||||||
Travelport Finance Luxembourg SARL | ||||||||||||
2020 Super Priority Term Loan, (3 mo. LIBOR + 1.50%, 1.00% Floor, 8.75% PIK), 5.17%, 02/28/25(i) | 1,668 | 1,680,113 | ||||||||||
2021 Consented Term Loan, (3 mo. LIBOR + 6.75%), 10.42%, 05/29/26 | 2,176 | 1,509,443 | ||||||||||
Twin River Worldwide Holdings, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 5.93%, 10/02/28 | 791 | 712,109 | ||||||||||
Whatabrands LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 6.37%, 08/03/28 | 1,991 | 1,838,149 | ||||||||||
Wyndham Hotels & Resorts, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 4.87%, 05/30/25 | 173 | 167,781 | ||||||||||
|
| |||||||||||
28,451,078 | ||||||||||||
Household Durables — 1.1% | ||||||||||||
ACProducts Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.25%, 0.50% Floor), 7.32%, 05/17/28 | 1,430 | 1,049,448 | ||||||||||
Hunter Douglas Inc., USD Term Loan B1, (3 mo. SOFR CME + 3.50%), 6.34%, 02/26/29 | 1,953 | 1,594,620 |
Security | Par (000) | Value | ||||||||||
Household Durables (continued) | ||||||||||||
Snap One Holdings Corp., Term Loan B, (6 mo. LIBOR + 4.50%, 0.50% Floor), 7.38%, 12/08/28 | USD | 941 | $ | 854,008 | ||||||||
Springs Windows Fashions LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 7.60%, 10/06/28 | 725 | 564,326 | ||||||||||
Weber-Stephen Products LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 6.37%, 10/30/27 | 1,200 | 969,242 | ||||||||||
|
| |||||||||||
5,031,644 | ||||||||||||
Household Products — 0.1% | ||||||||||||
Spectrum Brands, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.00%, 0.50% Floor), 5.12%, 03/03/28 | 473 | 447,978 | ||||||||||
|
| |||||||||||
Independent Power and Renewable Electricity Producers — 0.7% | ||||||||||||
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 5.12%, 01/15/25 | 656 | 637,328 | ||||||||||
Calpine Corp. | ||||||||||||
2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 5.12%, 08/12/26 | 1,043 | 998,324 | ||||||||||
Term Loan B9, (1 mo. LIBOR + 2.00%), 5.12%, 04/05/26 | 1,889 | 1,812,224 | ||||||||||
|
| |||||||||||
3,447,876 | ||||||||||||
Industrial Conglomerates — 1.8% | ||||||||||||
AVSC Holding Corp. | ||||||||||||
2020 Term Loan B1, (3 mo. LIBOR + 3.25%, 1.00% Floor), 6.39%, 03/03/25 | 1,208 | 1,054,580 | ||||||||||
2020 Term Loan B3, (3 mo. LIBOR + 5.00%, 10.00% PIK), 8.67%, 10/15/26(i) | 859 | 869,055 | ||||||||||
Diamond BC BV, 2021 Term Loan B, (3 mo. LIBOR + 2.75%, 0.50% Floor), 5.56%, 09/29/28 | 1,523 | 1,400,650 | ||||||||||
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 9.76%, 11/28/23 | 736 | 734,262 | ||||||||||
Stitch Aquisition Corp., Term Loan B, (3 mo. LIBOR + 6.75%, 0.75% Floor), 10.42%, 07/28/28 | 959 | 825,756 | ||||||||||
Vertical U.S. Newco, Inc., Term Loan B, (6 mo. LIBOR + 3.50%, 0.50% Floor), 6.87%, 07/30/27 | 1,678 | 1,609,373 | ||||||||||
Vertiv Group Corp., 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 5.30%, 03/02/27 | 2,148 | 2,039,838 | ||||||||||
|
| |||||||||||
8,533,514 | ||||||||||||
Insurance — 4.1% | ||||||||||||
Alliant Holdings Intermediate LLC | ||||||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 6.37%, 05/09/25 | 2,396 | 2,292,750 | ||||||||||
2021 Term Loan B4, (1 mo. LIBOR + 3.50%, 0.50% Floor), 6.49%, 11/06/27 | 3,291 | 3,114,004 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.25%), 6.37%, 05/09/25 | 1,169 | 1,118,666 | ||||||||||
AmWINS Group, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 5.37%, 02/19/28 | 2,962 | 2,827,964 | ||||||||||
AssuredPartners, Inc. | ||||||||||||
2020 Term Loan B, (1 mo. LIBOR + 3.50%), 6.62%, 02/12/27 | 1,284 | 1,213,839 | ||||||||||
2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.50% Floor), 6.62%, 02/12/27 | 766 | 723,605 |
17 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Insurance (continued) | ||||||||||||
Hub International Ltd. | ||||||||||||
2018 Term Loan B, (3 mo. LIBOR + 3.00%), 5.77%, 04/25/25 | USD | 2,345 | $ | 2,251,636 | ||||||||
2021 Term Loan B, (3 mo. LIBOR + 3.25%, 0.75% Floor), 5.98%, 04/25/25 | 2,979 | 2,858,050 | ||||||||||
NFP Corp., 2020 Term Loan, (1 mo. LIBOR + 3.25%), 6.37%, 02/15/27 | 163 | 153,117 | ||||||||||
Ryan Specialty Group LLC, Term Loan, (1 mo. SOFR CME + 3.00%, 0.75% Floor), 6.13%, 09/01/27(c) | 1,174 | 1,132,866 | ||||||||||
Sedgwick Claims Management Services, Inc. |
| |||||||||||
2019 Term Loan B, (1 mo. LIBOR + 3.75%), 6.87%, 09/03/26 | 1,350 | 1,286,588 | ||||||||||
2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 7.37%, 09/03/26 | 722 | 694,808 | ||||||||||
|
| |||||||||||
19,667,893 | ||||||||||||
Interactive Media & Services — 2.2% | ||||||||||||
Adevinta ASA, USD Term Loan B, (3 mo. LIBOR + 3.00%, 0.75% Floor), 6.67%, 06/26/28 | 1,533 | 1,490,587 | ||||||||||
Arches Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 6.37%, 12/06/27 | 636 | 570,703 | ||||||||||
Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 6.12%, 10/30/26 | 2,955 | 2,851,922 | ||||||||||
Go Daddy Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 5.12%, 08/10/27 | 1,691 | 1,632,285 | ||||||||||
Grab Holdings, Inc., Term Loan B, (1 mo. LIBOR + 4.50%, 1.00% Floor), 7.62%, 01/29/26 | 4,488 | 4,192,971 | ||||||||||
|
| |||||||||||
10,738,468 | ||||||||||||
Internet & Direct Marketing Retail — 0.4% | ||||||||||||
CNT Holdings I Corp., 2020 Term Loan, (1 mo. SOFR CME + 3.50%, 0.75% Floor), 6.25%, 11/08/27 | 1,616 | 1,536,557 | ||||||||||
PUG LLC, 2021 Incremental Term Loan B, (1 mo. LIBOR + 4.25%, 0.50% Floor), 7.37%, 02/12/27(c) | 324 | 283,263 | ||||||||||
|
| |||||||||||
1,819,820 | ||||||||||||
Internet Software & Services — 0.3% | ||||||||||||
Uber Technologies, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 6.57%, 02/25/27 | 1,538 | 1,496,611 | ||||||||||
|
| |||||||||||
IT Services — 6.1% | ||||||||||||
Aruba Investments, Inc. | ||||||||||||
2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 0.75% Floor), 10.83%, 11/24/28 | 1,275 | 1,153,875 | ||||||||||
2020 USD Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 7.08%, 11/24/27 | 680 | 624,460 | ||||||||||
Boxer Parent Co., Inc., 2021 USD Term Loan, (1 mo. LIBOR + 3.75%), 6.87%, 10/02/25 | 2,022 | 1,911,820 | ||||||||||
Camelot Finance SA, Term Loan B, (1 mo. LIBOR + 3.00%), 6.12%, 10/30/26 | 2,108 | 2,036,408 | ||||||||||
CCC Intelligent Solutions, Inc., Term Loan, (1 mo. LIBOR + 2.25%, 0.50% Floor), 4.37%, 09/21/28 | 1,481 | 1,428,982 | ||||||||||
CoreLogic, Inc. | ||||||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 0.50% Floor), 9.63%, 06/04/29(c) | 1,248 | 836,160 | ||||||||||
Term Loan, (1 mo. LIBOR + 3.50%, 0.50% Floor), 6.63%, 06/02/28 | 2,960 | 2,212,304 |
Security | Par (000) | Value | ||||||||||
IT Services (continued) | ||||||||||||
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 1.75%), 4.87%, 04/28/28 | USD | 1,945 | $ | 1,871,496 | ||||||||
Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR + 4.00%, 0.75% Floor), 7.12%, 12/01/27 | 5,024 | 4,771,466 | ||||||||||
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 6.62%, 02/12/27(c) | 2,231 | 1,929,710 | ||||||||||
Sophia LP, 2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.00%, 1.00% Floor), 11.67%, 10/09/28 | 3,730 | 3,702,025 | ||||||||||
TierPoint LLC, 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.87%, 05/05/26 | 853 | 804,191 | ||||||||||
Trans Union LLC | ||||||||||||
2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 4.87%, 11/16/26 | 1,641 | 1,580,147 | ||||||||||
2021 Term Loan B6, (1 mo. LIBOR + 2.25%, 0.50% Floor), 5.37%, 12/01/28 | 2,281 | 2,205,726 | ||||||||||
Virtusa Corp., 1st Lien Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.87%, 02/11/28 | 925 | 864,407 | ||||||||||
WEX, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.25%), 5.37%, 03/31/28 | 861 | 833,720 | ||||||||||
ZoomInfo LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 6.12%, 02/02/26 | 192 | 189,024 | ||||||||||
|
| |||||||||||
28,955,921 | ||||||||||||
Leisure Products — 0.4% | ||||||||||||
Fender Musical Instruments Corp., 2021 Term Loan B, (1 mo. SOFR + 4.00%, 0.50% Floor), 6.75%, 12/01/28 | 855 | 724,567 | ||||||||||
MND Holdings III Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 6.62%, 06/19/24 | 768 | 741,895 | ||||||||||
Peloton Interactive, Inc., Term Loan, (6 mo. SOFR CME + 6.50%, 0.50% Floor), 8.35%, 05/25/27 | 298 | 290,423 | ||||||||||
|
| |||||||||||
1,756,885 | ||||||||||||
Life Sciences Tools & Services — 2.4% | ||||||||||||
Avantor Funding, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.25%, 0.50% Floor), 5.37%, 11/08/27 | 2,033 | 1,974,838 | ||||||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 7.62%, 02/04/27 | 2,855 | 2,649,996 | ||||||||||
ICON Luxembourg SARL, LUX Term Loan, (3 mo. LIBOR + 2.25%, 0.50% Floor), 5.94%, 07/03/28 | 2,327 | 2,271,432 | ||||||||||
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3 mo. SOFR + 3.00%, 0.50% Floor), 5.55%, 10/19/27 | 1,297 | 1,254,121 | ||||||||||
Parexel International Corp., 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 0.50% Floor), 6.37%, 11/15/28 | 2,989 | 2,847,391 | ||||||||||
PRA Health Sciences, Inc., US Term Loan, (3 mo. LIBOR + 2.25%, 0.50% Floor), 5.94%, 07/03/28 | 580 | 565,930 | ||||||||||
|
| |||||||||||
11,563,708 | ||||||||||||
Machinery — 2.9% | ||||||||||||
Albion Acquisitions Ltd., USD Term Loan, (3 mo. LIBOR + 5.25%, 0.50% Floor), 8.01%, 08/17/26 | 1,611 | 1,523,374 | ||||||||||
ASP Blade Holdings, Inc., Initial Term Loan, (3 mo. LIBOR + 4.00%, 0.50% Floor), 7.67%, 10/13/28 | 240 | 210,212 | ||||||||||
Clark Equipment Co., 2022 Term Loan B, (3 mo. SOFR CME + 2.50%, 0.50% Floor), 6.15%, 04/20/29 | 264 | 257,413 |
SCHEDULE OF INVESTMENTS | 18 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Machinery (continued) | ||||||||||||
Columbus McKinnon Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.75%, 0.50% Floor), 6.44%, 05/14/28 | USD | 350 | $ | 341,668 | ||||||||
Filtration Group Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 3.50%, 0.50% Floor), 6.62%, 10/21/28 | 1,029 | 974,176 | ||||||||||
Fluidra SA, 2022 USD Term Loan B, (1 mo. SOFR CME + 2.10%), 5.13%, 01/29/29 | 270 | 260,898 | ||||||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1 mo. SOFR CME + 1.75%), 4.88%, 03/01/27 | 2,483 | 2,404,701 | ||||||||||
Madison IAQ LLC, Term Loan, (3 mo. LIBOR + 3.25%, 0.50% Floor), 6.82%, 06/21/28 | 3,270 | 3,014,687 | ||||||||||
SPX Flow, Inc., 2022 Term Loan, (1 mo. SOFR CME + 4.50%, 0.50% Floor), 7.53%, 04/05/29 | 1,197 | 1,103,791 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (6 mo. LIBOR + 3.00%), 5.88%, 03/28/25 | 4,217 | 3,766,811 | ||||||||||
Zurn LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%, 0.50% Floor), 5.37%, 10/04/28 | 111 | 109,394 | ||||||||||
|
| |||||||||||
13,967,125 | ||||||||||||
Media — 11.4% | ||||||||||||
Altice Financing SA | ||||||||||||
2017 USD Term Loan B, (3 mo. LIBOR + 2.75%), 5.26%, 07/15/25 | 648 | 607,765 | ||||||||||
USD 2017 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 5.26%, 01/31/26 | 1,727 | 1,612,790 | ||||||||||
Altice France SA, 2018 Term Loan B13, (3 mo. LIBOR + 4.00%), 6.91%, 08/14/26(c) | 2,781 | 2,516,522 | ||||||||||
AMC Entertainment Holdings, Inc., 2019 Term Loan B, (3 mo. LIBOR + 3.00%), 5.76%, 04/22/26 | 1,316 | 1,026,487 | ||||||||||
Cable One, Inc., 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 5.12%, 05/03/28 | 432 | 423,179 | ||||||||||
Charter Communications Operating LLC, Class A, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 4.87%, 04/30/25 | 2,574 | 2,522,208 | ||||||||||
City Football Group Ltd., Term Loan, (3 mo. LIBOR + 3.50%, 0.50% Floor), 6.48%, 07/21/28 | 1,397 | 1,325,466 | ||||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 6.31%, 08/21/26 | 3,372 | 3,002,416 | ||||||||||
CMG Media Corp., 2021 Term Loan, (1 mo. LIBOR + 3.50%), 6.62%, 12/17/26 | — | (l) | 193 | |||||||||
Connect Finco SARL, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 6.62%, 12/11/26 | 7,224 | 6,704,850 | ||||||||||
CSC Holdings LLC | ||||||||||||
2017 Term Loan B1, (1 mo. LIBOR + 2.25%), 5.07%, 07/17/25 | 577 | 548,864 | ||||||||||
2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 5.32%, 04/15/27 | 1,841 | 1,717,476 | ||||||||||
E.W. Scripps Co., 2020 Term Loan B3, (1 mo. LIBOR + 2.75%, 0.75% Floor), 5.87%, 01/07/28 . | 728 | 702,995 | ||||||||||
Learfield Communications LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 6.37%, 12/01/23 | 752 | 613,962 | ||||||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 5.37%, 03/24/25 | 1,520 | 1,462,863 | ||||||||||
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. LIBOR + 1.75%), 4.81%, 10/17/26 | 2,256 | 2,120,803 |
Security | Par (000) | Value | ||||||||||
Media (continued) | ||||||||||||
MH Sub I LLC | ||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 6.62%, 09/13/24 | USD | 4,164 | $ | 3,960,692 | ||||||||
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 6.87%, 09/13/24 | 2,524 | 2,394,154 | ||||||||||
2021 2nd Lien Term Loan, (1 mo. SOFR CME + 6.25%), 9.28%, 02/23/29 | 984 | 919,477 | ||||||||||
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 5.62%, 09/18/26 | 1,004 | 988,671 | ||||||||||
Sinclair Television Group, Inc., 2022 Term Loan B4, (1 mo. SOFR CME + 3.75%), 6.88%, 04/21/29 | 1,577 | 1,487,676 | ||||||||||
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 6.11%, 09/28/23(c) | 4,338 | 4,164,601 | ||||||||||
UPC Financing Partnership, 2021 USD Term Loan AX, (1 mo. LIBOR + 2.92%), 5.74%, 01/31/29 | 672 | 639,978 | ||||||||||
Virgin Media Bristol LLC | ||||||||||||
2020 USD Term Loan Q, (1 mo. LIBOR + 3.25%), 6.07%, 01/31/29 | 1,212 | 1,171,095 | ||||||||||
USD Term Loan N, (1 mo. LIBOR + 2.50%), 5.32%, 01/31/28 | 2,578 | 2,456,490 | ||||||||||
Voyage Digital Ltd., USD Term Loan B, (3 mo. SOFR + 4.50%, 0.50% Floor), 7.26%, 05/11/29(c) | 883 | 859,556 | ||||||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 5.87%, 05/18/25 | 2,816 | 2,681,252 | ||||||||||
WMG Acquisition Corp., 2021 Term Loan G, (1 mo. LIBOR + 2.12%), 5.24%, 01/20/28 | 1,854 | 1,793,788 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 6.12%, 03/09/27 | 4,386 | 3,651,667 | ||||||||||
|
| |||||||||||
54,077,936 | ||||||||||||
Oil, Gas & Consumable Fuels — 1.4% | ||||||||||||
Ascent Resources Utica Holdings LLC, 2020 Fixed 2nd Lien Term Loan, (3 mo. LIBOR + 9.00%, 1.00% Floor), 11.46%, 11/01/25 | 555 | 582,266 | ||||||||||
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 6.87%, 12/13/25 | 1,061 | 926,241 | ||||||||||
Lealand Finance Co. BV | ||||||||||||
2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 6.12%, 06/28/24 | 46 | 27,614 | ||||||||||
2020 Take Back Term Loan, (1 mo. LIBOR + 1.00%), 3.52%, 06/30/25 | 340 | 169,582 | ||||||||||
M6 ETX Holdings II Midco LLC, Term Loan B, (3 mo. SOFR CME + 4.50%, 0.50% Floor), 7.99%, 09/19/29 | 230 | 225,400 | ||||||||||
Medallion Midland Acquisition LLC, 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.87%, 10/18/28 | 1,677 | 1,617,874 | ||||||||||
Murphy USA, Inc., Term Loan B, (1 mo. LIBOR + 1.75%, 0.50% Floor), 4.32%, 01/31/28 | 567 | 564,558 | ||||||||||
Oryx Midstream Services Permian Basin LLC, Term Loan B, (3 mo. LIBOR + 3.25%, 0.50% Floor), 6.21%, 10/05/28 | 2,720 | 2,634,375 | ||||||||||
|
| |||||||||||
6,747,910 |
19 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Personal Products — 1.1% | ||||||||||||
Kronos Acquisition Holdings, Inc., 2021 1st Lien Term Loan, (3 mo. SOFR + 6.00%, 1.00% Floor), 8.94%, 12/22/26 | USD | 356 | $ | 337,601 | ||||||||
Prestige Brands, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.00%, 0.50% Floor), 5.12%, 07/03/28 | 184 | 182,754 | ||||||||||
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3 mo. LIBOR + 3.75%, 0.75% Floor), 7.42%, 10/01/26 | 5,318 | 4,935,539 | ||||||||||
|
| |||||||||||
5,455,894 | ||||||||||||
Pharmaceuticals — 2.4% | ||||||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 6.90%, 05/04/25 | 1,068 | 884,299 | ||||||||||
Bausch Health Cos., Inc., 2022 Term Loan B, (1 mo. SOFR CME + 5.25%, 0.50% Floor), 8.10%, 02/01/27 | 1,129 | 864,005 | ||||||||||
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1 mo. LIBOR + 2.00%, 0.50% Floor), 5.06%, 02/22/28 | 1,856 | 1,836,982 | ||||||||||
Elanco Animal Health, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 4.31%, 08/01/27 | 1,300 | 1,233,932 | ||||||||||
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 5.12%, 11/15/27 | 1,762 | 1,669,618 | ||||||||||
Jazz Financing Lux SARL, USD Term Loan, (1 mo. LIBOR + 3.50%, 0.50% Floor), 6.62%, 05/05/28 | 1,920 | 1,853,016 | ||||||||||
Option Care Health, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.75%, 0.50% Floor), 5.87%, 10/27/28 | 609 | 594,495 | ||||||||||
Organon & Co., USD Term Loan, (3 mo. LIBOR + 3.00%, 0.50% Floor), 6.19%, 06/02/28 | 1,360 | 1,325,949 | ||||||||||
Precision Medicine Group LLC, 2021 Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 6.67%, 11/18/27(c) | 1,233 | 1,137,524 | ||||||||||
|
| |||||||||||
11,399,820 | ||||||||||||
Professional Services — 1.2% | ||||||||||||
Dun & Bradstreet Corp. | ||||||||||||
2022 Incremental Term Loan B2, (1 mo. SOFR CME + 3.25%), 6.28%, 01/18/29 | 622 | 598,710 | ||||||||||
Term Loan, (1 mo. LIBOR + 3.25%), 6.33%, 02/06/26 | 2,026 | 1,955,727 | ||||||||||
Element Materials Technology Group U.S. Holdings, Inc. | ||||||||||||
2022 USD Delayed Draw Term Loan, (3 mo. LIBOR + 4.25%, 0.50% Floor), 7.90%, 07/06/29 | 529 | 495,360 | ||||||||||
2022 USD Term Loan, (3 mo. SOFR CME + 4.25%, 0.50% Floor), 7.90%, 07/06/29 | 1,146 | 1,073,281 | ||||||||||
Galaxy U.S. Opco, Inc., Term Loan, (1 mo. SOFR CME + 4.75%, 0.50% Floor), 7.78%, 04/29/29(c) . | 1,749 | 1,639,688 | ||||||||||
|
| |||||||||||
5,762,766 |
Security | Par (000) | Value | ||||||||||
Real Estate Management & Development — 0.8% |
| |||||||||||
Chamberlain Group, Inc., Term Loan B, (1 mo. LIBOR + 3.50%, 0.50% Floor), 6.62%, 11/03/28 | USD | 2,156 | $ | 1,953,612 | ||||||||
Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 5.87%, 08/21/25 | 2,042 | 1,948,569 | ||||||||||
|
| |||||||||||
3,902,181 | ||||||||||||
Road & Rail — 0.4% | ||||||||||||
Avis Budget Car Rental LLC, 2020 Term Loan B, (1 mo. LIBOR + 1.75%), 4.87%, 08/06/27 | 570 | 536,972 | ||||||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 5.50%), 8.60%, 08/04/25(c) | 1,337 | 1,211,144 | ||||||||||
|
| |||||||||||
1,748,116 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.1% | ||||||||||||
ON Semiconductor Corp., 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 5.12%, 09/19/26 | — | (l) | 21 | |||||||||
Synaptics, Inc., Term Loan B, (3 mo. LIBOR + 2.25%, 0.50% Floor), 4.36%, 12/02/28 | 550 | 542,582 | ||||||||||
|
| |||||||||||
542,603 | ||||||||||||
Software — 13.0% | ||||||||||||
Applied Systems, Inc. | ||||||||||||
2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 0.50% Floor), 6.67%, 09/19/24 | 431 | 419,531 | ||||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.50%, 0.75% Floor), 9.17%, 09/19/25 | 630 | 618,345 | ||||||||||
Barracuda Networks, Inc., 2022 Term Loan, (1 mo. SOFR CME + 4.50%, 0.50% Floor), 7.53%, 08/15/29 | 661 | 620,157 | ||||||||||
Central Parent, Inc., 2022 USD Term Loan B, (3 mo. SOFR CME + 4.50%, 0.50% Floor), 6.61%, 07/06/29 | 634 | 609,578 | ||||||||||
Cloudera, Inc.(c) | ||||||||||||
2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%, 0.50% Floor), 9.12%, 10/08/29 | 846 | 710,640 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.50% Floor), 6.87%, 10/08/28 | 2,587 | 2,263,625 | ||||||||||
ConnectWise LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 7.17%, 09/29/28 | 891 | 831,105 | ||||||||||
Cornerstone OnDemand, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.50% Floor), 6.87%, 10/16/28(c) | 1,053 | 879,013 | ||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 6.37%, 05/28/24 | 498 | 442,805 | ||||||||||
E2open LLC, 2020 Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 6.64%, 02/04/28 | 250 | 238,569 | ||||||||||
Epicor Software Corp., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 10.87%, 07/31/28 | 1,886 | 1,833,192 | ||||||||||
Helios Software Holdings, Inc., 2021 USD Term Loan B, (3 mo. SOFR CME + 3.75%), 7.45%, 03/11/28 | 1,887 | 1,779,363 | ||||||||||
Informatica LLC, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 5.88%, 10/27/28 | 4,467 | 4,324,302 | ||||||||||
Instructure Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 2.75%, 0.50% Floor), 6.12%, 10/30/28(c) | 641 | 621,557 |
SCHEDULE OF INVESTMENTS | 20 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Software (continued) | ||||||||||||
IPS Corp.(c) | ||||||||||||
2021 2nd Lien Term Loan B, (1 mo. LIBOR + 7.00%, 0.50% Floor), 10.12%, 10/01/29 | USD | 919 | $ | 827,100 | ||||||||
2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.50% Floor), 6.62%, 10/02/28 | 515 | 477,533 | ||||||||||
Magenta Buyer LLC | ||||||||||||
2021 USD 1st Lien Term Loan, (1 mo. LIBOR + 4.75%, 0.75% Floor), 7.87%, 07/27/28 | 2,100 | 1,889,628 | ||||||||||
2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 8.25%, 0.75% Floor), 11.37%, 07/27/29 | 1,907 | 1,746,398 | ||||||||||
McAfee LLC, 2022 USD Term Loan B, (1 mo. SOFR CME + 3.75%), 6.36%, 03/01/29 | 3,042 | 2,766,918 | ||||||||||
Netsmart Technologies, Inc., 2020 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 7.12%, 10/01/27 | 1,376 | 1,307,488 | ||||||||||
Planview Parent, Inc. | ||||||||||||
2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 10.92%, 12/18/28(c) | 824 | 782,800 | ||||||||||
Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 7.67%, 12/17/27 | 1,889 | 1,784,839 | ||||||||||
Proofpoint, Inc. | ||||||||||||
1st Lien Term Loan, (3 mo. LIBOR + 3.25%, 0.50% Floor), 6.32%, 08/31/28 | 2,475 | 2,319,414 | ||||||||||
2nd Lien Term Loan, (3 mo. LIBOR + 6.25%, 0.50% Floor), 9.32%, 08/31/29 | 1,281 | 1,228,159 | ||||||||||
RealPage, Inc. | ||||||||||||
1st Lien Term Loan, (1 mo. LIBOR + 3.00%, 0.50% Floor), 6.12%, 04/24/28 | 5,442 | 5,090,278 | ||||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 0.75% Floor), 9.62%, 04/23/29 | 2,629 | 2,532,150 | ||||||||||
Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 6.37%, 05/30/25 | 579 | 549,582 | ||||||||||
Severin Acquisition LLC, 2018 Term Loan B, (3 mo. SOFR CME + 3.00%), 6.03%, 08/01/25 | 2,412 | 2,337,450 | ||||||||||
Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 7.17%, 10/07/27 | 3,668 | 3,521,688 | ||||||||||
SS&C Technologies, Inc. | ||||||||||||
2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 4.87%, 04/16/25 | 400 | 385,956 | ||||||||||
2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 4.87%, 04/16/25 | 324 | 313,107 | ||||||||||
2018 Term Loan B5, (1 mo. LIBOR + 1.75%), 4.87%, 04/16/25 | 1,695 | 1,642,010 | ||||||||||
Tempo Acquisition LLC, 2022 Term Loan B, (1 mo. SOFR CME + 3.00%), 6.03%, 08/31/28 | 4,220 | 4,102,665 | ||||||||||
Tibco Software, Inc., 2022 USD Term Loan, (3 mo. SOFR CME + 4.50%, 0.50% Floor), 8.02%, 03/20/29 | 3,298 | 2,955,239 | ||||||||||
Ultimate Software Group, Inc. | ||||||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%, 0.50% Floor), 7.54%, 05/03/27 | 1,216 | 1,143,244 | ||||||||||
2021 Term Loan, (3 mo. LIBOR + 3.25%, 0.50% Floor), 5.54%, 05/04/26 | 3,760 | 3,568,948 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.75%), 6.87%, 05/04/26 | 2,487 | 2,365,666 | ||||||||||
|
| |||||||||||
61,830,042 |
Security | Par (000) | Value | ||||||||||
Specialty Retail — 4.4% | ||||||||||||
Belron Finance U.S. LLC | ||||||||||||
2018 Term Loan B, (3 mo. LIBOR + 2.25%), 5.19%, 11/13/25(c) | USD | 1,972 | $ | 1,917,928 | ||||||||
2019 USD Term Loan B3, (3 mo. LIBOR + 2.25%), 5.06%, 10/30/26(c) | 1,131 | 1,097,087 | ||||||||||
2021 USD Term Loan B, (3 mo. LIBOR + 2.50%, 0.50% Floor), 5.38%, 04/13/28 | 1,715 | 1,657,899 | ||||||||||
EG Group Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.25%, 0.50% Floor), 7.92%, 03/31/26 | 501 | 466,744 | ||||||||||
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (3 mo. LIBOR + 3.25%, 0.50% Floor), 6.06%, 11/24/28(c) | 598 | 575,079 | ||||||||||
Mavis Tire Express Services Corp., 2021 Term Loan B, (1 mo. SOFR CME + 4.00%, 0.75% Floor), 7.25%, 05/04/28 | 2,650 | 2,479,841 | ||||||||||
MED ParentCo LP, 1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 7.37%, 08/31/26 | 1,843 | 1,544,603 | ||||||||||
Midas Intermediate Holdco II LLC, (1 mo. SOFR CME + 8.35%, 0.75% Floor), 11.20%, 06/30/27 | 2,744 | 2,476,445 | ||||||||||
PetSmart, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.87%, 02/11/28 | 4,658 | 4,398,084 | ||||||||||
Research Now Group, Inc., 2017 1st Lien Term Loan, (6 mo. LIBOR + 5.50%, 1.00% Floor), 8.84%, 12/20/24 | 858 | 770,676 | ||||||||||
Restoration Hardware, Inc., 2022 Incremental Term Loan, (1 mo. SOFR CME + 3.25%, 0.50% Floor), 6.38%, 10/20/28 | 753 | 683,581 | ||||||||||
Reverb Buyer, Inc. | ||||||||||||
2021 1st Lien Term Loan, 11/01/28(m) | 1,805 | 1,763,312 | ||||||||||
2021 Delayed Draw Term Loan, 3.50%, 11/01/28 | 290 | 275,923 | ||||||||||
Woof Holdings, Inc.(c) | ||||||||||||
1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 7.32%, 12/21/27 | 484 | 455,826 | ||||||||||
2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 10.82%, 12/21/28 | 495 | 472,725 | ||||||||||
|
| |||||||||||
21,035,753 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.1% | ||||||||||||
Electronics for Imaging, Inc., Term Loan, (1 mo. LIBOR + 5.00%), 8.12%, 07/23/26 | 887 | 709,636 | ||||||||||
|
| |||||||||||
Textiles, Apparel & Luxury Goods — 0.3% | ||||||||||||
Crocs, Inc., Term Loan B, (3 mo. SOFR + 3.50%, 0.50% Floor), 7.20%, 02/17/29 | 1,642 | 1,541,627 | ||||||||||
|
| |||||||||||
Trading Companies & Distributors — 0.7% | ||||||||||||
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 5.37%, 05/19/28 | 1,218 | 1,172,142 | ||||||||||
Foundation Building Materials Holding Co. LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%, 0.50% Floor), 6.06%, 01/31/28 | 915 | 819,640 | ||||||||||
ION Trading Finance Ltd., 2021 USD Term Loan, (3 mo. LIBOR + 4.75%), 8.42%, 04/03/28 | 596 | 552,313 | ||||||||||
SRS Distribution, Inc., 2022 Incremental Term Loan, (3 mo. SOFR CME + 3.50%), 6.18%, 06/02/28 | 866 | 794,163 | ||||||||||
|
| |||||||||||
3,338,258 |
21 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Wireless Telecommunication Services — 1.0% |
| |||||||||||
GOGO Intermediate Holdings LLC, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.56%, 04/30/28 | USD | �� | 966 | $ | 935,319 | |||||||
MetroNet Systems Holdings LLC, 2021 1st Lien Term Loan, (1 mo. SOFR + 3.86%), 6.61%, 06/02/28 | 622 | 583,404 | ||||||||||
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 4.87%, 04/11/25 | 3,310 | 3,214,164 | ||||||||||
|
| |||||||||||
4,732,887 | ||||||||||||
|
| |||||||||||
Total Floating Rate Loan Interests — 117.7% |
| 560,499,972 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Investment Companies | ||||||||||||
Fixed Income Funds — 0.1% | ||||||||||||
Invesco Senior Loan ETF | 16,200 | 327,078 | ||||||||||
|
| |||||||||||
Total Investment Companies — 0.1% |
| 327,078 | ||||||||||
|
| |||||||||||
Benefical Interest (000) | ||||||||||||
Other Interests(n) | ||||||||||||
IT Services(b)(c) — 0.0% | ||||||||||||
Millennium Corp. Claim | USD | 1,084 | — | |||||||||
Millennium Lender Claim Trust | 1,156 | — | ||||||||||
|
| |||||||||||
Total Other Interests — 0.0% | — | |||||||||||
|
| |||||||||||
Par (000) | ||||||||||||
Preferred Securities | ||||||||||||
Capital Trusts — 0.4%(g)(h) | ||||||||||||
Automobiles — 0.0% | ||||||||||||
General Motors Financial Co., Inc., Series C, 5.70% | USD | 50 | 42,856 | |||||||||
Volkswagen International Finance NV, 4.38%(a) | EUR | 100 | 76,441 | |||||||||
|
| |||||||||||
119,297 | ||||||||||||
Banks — 0.0% | ||||||||||||
PNC Financial Services Group, Inc., Series V, 6.20% | USD | 92 | 86,940 | |||||||||
|
| |||||||||||
Diversified Financial Services — 0.3% |
| |||||||||||
Barclays PLC, 4.38% | 200 | 123,260 | ||||||||||
HSBC Holdings PLC, 6.00% | 600 | 497,100 | ||||||||||
JPMorgan Chase & Co. | ||||||||||||
Series FF, 5.00% | 765 | 689,839 | ||||||||||
Series HH, 4.60% | 166 | 144,602 | ||||||||||
|
| |||||||||||
1,454,801 | ||||||||||||
Electric Utilities — 0.0% | ||||||||||||
Edison International, Series B, 5.00% | 55 | 43,450 | ||||||||||
|
|
Security | Par (000) | Value | ||||||||||
Independent Power and Renewable Electricity Producers — 0.0% |
| |||||||||||
Vistra Corp., 7.00%(e) | USD | 77 | $ | 67,222 | ||||||||
|
| |||||||||||
Utilities — 0.1% | ||||||||||||
Electricite de France SA, 3.38%(a) | EUR | 200 | 132,919 | |||||||||
|
| |||||||||||
1,904,629 | ||||||||||||
|
| |||||||||||
Shares | ||||||||||||
Preferred Stocks — 0.1% | ||||||||||||
Capital Markets — 0.1% | ||||||||||||
Goldman Sachs Group, Inc., Series J, 5.50%(g)(h) | 13,550 | 335,091 | ||||||||||
|
| |||||||||||
Insurance — 0.0% | ||||||||||||
Alliant Holdings, Inc.(c) | 83 | 73,634 | ||||||||||
|
| |||||||||||
408,725 | ||||||||||||
|
| |||||||||||
Total Preferred Securities — 0.5% | 2,313,354 | |||||||||||
|
| |||||||||||
Warrants | ||||||||||||
Metals & Mining — 0.0% | ||||||||||||
Ameriforge Group, Inc | 5,283 | — | ||||||||||
|
| |||||||||||
Oil, Gas & Consumable Fuels — 0.0% |
| |||||||||||
California Resources Corp., (Issued/Exercisable 11/03/20, 1 Share for 1 Warrant, Expires 10/27/24, Strike Price USD 36.00)(b) | 1,152 | 11,981 | ||||||||||
|
| |||||||||||
Transportation Infrastructure — 0.0% |
| |||||||||||
Turbo Cayman Ltd.(c) | 1 | — | ||||||||||
|
| |||||||||||
Total Warrants — 0.0% | 11,981 | |||||||||||
|
| |||||||||||
Total Long-Term Investments — 139.0% |
| 661,704,203 | ||||||||||
|
| |||||||||||
Short-Term Securities | ||||||||||||
Money Market Funds — 0.6% | ||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 2.79%(o)(p) | 3,128,149 | 3,128,149 | ||||||||||
|
| |||||||||||
Total Short-Term Securities — 0.6% | 3,128,149 | |||||||||||
|
| |||||||||||
Total Investments — 139.6% | 664,832,352 | |||||||||||
Liabilities in Excess of Other Assets — (39.6)% |
| (188,745,212 | ) | |||||||||
|
| |||||||||||
Net Assets — 100.0% | $ | 476,087,140 | ||||||||||
|
|
(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 $889, representing less than 0.05% of its net assets as of period end, and an original cost of $255,714. |
(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) | Issuer filed for bankruptcy and/or is in default. |
SCHEDULE OF INVESTMENTS | 22 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) |
(g) | 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. |
(h) | Perpetual security with no stated maturity date. |
(i) | 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. |
(j) | When-issued security. |
(k) | Convertible security. |
(l) | Rounds to less than 1,000. |
(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) | Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
(o) | Affiliate of the Fund. |
(p) | Annualized 7-day yield as of period end. |
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, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 09/30/22 | Shares Held at 09/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 435,992 | $ | 2,692,157 | (a) | $ | — | $ | — | $ | — | $ | 3,128,149 | 3,128,149 | $ | 25,443 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
Derivative Financial Instruments Outstanding as of Period End
Forward Foreign Currency Exchange Contracts
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
USD | 781,746 | EUR | 778,000 | Bank of Montreal | 12/21/22 | $ | 14,610 | |||||||||||||
USD | 2,230,619 | EUR | 2,220,000 | Morgan Stanley & Co. International PLC | 12/21/22 | 41,618 | ||||||||||||||
USD | 280,516 | GBP | 244,000 | Bank of America N.A. | 12/21/22 | 7,757 | ||||||||||||||
USD | 1,612,834 | GBP | 1,403,000 | HSBC Bank PLC | 12/21/22 | 44,474 | ||||||||||||||
|
| |||||||||||||||||||
$ | 108,459 | |||||||||||||||||||
|
|
Centrally Cleared Credit Default Swaps — Sell Protection
Reference Obligation/Index | | Financing Rate Received by the Fund | | | Payment Frequency | | | Termination Date | | | Credit Rating | (a) | | Notional Amount (000) | (b) | Value | | Upfront Premium Paid (Received) | | | Unrealized Appreciation (Depreciation) | | ||||||||||
CDX.NA.HY.37.V2 | 5.00 | % | Quarterly | 12/20/26 | B- | USD | 4,950 | $ | (16,880 | ) | $ | 313,803 | $ | (330,683 | ) | |||||||||||||||||
CDX.NA.HY.38.V2 | 5.00 | Quarterly | 06/20/27 | B | USD | 3,906 | (81,353 | ) | 29,169 | (110,522 | ) | |||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | (98,233 | ) | $ | 342,972 | $ | (441,205 | ) | |||||||||||||||||||||||||
|
|
|
|
|
|
(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. |
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 | NR | USD | 170 | $ | (2,561 | ) | $ | (3,352 | ) | $ | 791 | ||||||||||||||||||
Jaguar Land Rover Automotive PLC | 5.00 | Quarterly | Bank of America N.A. | 12/20/26 | B+ | EUR | 10 | (1,969 | ) | (371 | ) | (1,598 | ) |
23 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) |
OTC Credit Default Swaps — Sell Protection (continued)
Reference Obligation/ Index | Financing Rate Received by the Fund | Payment Frequency | Counterparty | Termination Date | Credit Rating(a) | Notional Amount (000)(b) | Value | Upfront (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC | 5.00 | % | Quarterly | Barclays Bank PLC | 12/20/26 | B+ | EUR | 5 | $ | (999 | ) | $ | 189 | $ | (1,188 | ) | ||||||||||||||||||||||
Jaguar Land Rover Automotive PLC | 5.00 | Quarterly | Credit Suisse International | 12/20/26 | B+ | EUR | 5 | (971 | ) | 194 | (1,165 | ) | ||||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC | 5.00 | Quarterly | Credit Suisse International | 12/20/26 | B+ | EUR | 10 | (1,969 | ) | 366 | (2,335 | ) | ||||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC | 5.00 | Quarterly | Morgan Stanley & Co. International PLC | 12/20/26 | B+ | EUR | 10 | (1,969 | ) | 434 | (2,403 | ) | ||||||||||||||||||||||||||
CMA CGM SA | 5.00 | Quarterly | Barclays Bank PLC | 06/20/27 | BB+ | EUR | 6 | (194 | ) | 170 | (364 | ) | ||||||||||||||||||||||||||
CMA CGM SA | 5.00 | Quarterly | Credit Suisse International | 06/20/27 | BB+ | EUR | 20 | (679 | ) | 871 | (1,550 | ) | ||||||||||||||||||||||||||
CMA CGM SA | 5.00 | Quarterly | Credit Suisse International | 06/20/27 | BB+ | EUR | 6 | (200 | ) | 189 | (389 | ) | ||||||||||||||||||||||||||
Adler Real Estate AG | 5.00 | Quarterly | Bank of America N.A. | 12/20/27 | CCC | EUR | 40 | (11,271 | ) | (9,902 | ) | (1,369 | ) | |||||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||||||||
$ | (22,782 | ) | $ | (11,212 | ) | $ | (11,570 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
(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. |
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 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 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 | $ | — | $ | 166,399 | $ | — | $ | 166,399 | ||||||||
Common Stocks | ||||||||||||||||
Construction & Engineering | 63,667 | — | — | 63,667 | ||||||||||||
Diversified Financial Services | — | — | 10,753 | 10,753 | ||||||||||||
Electrical Equipment | 39,329 | — | — | 39,329 | ||||||||||||
Metals & Mining | — | 832 | 889 | 1,721 | ||||||||||||
Oil, Gas & Consumable Fuels | 149,323 | — | — | 149,323 | ||||||||||||
Semiconductors & Semiconductor Equipment | 5,063 | — | — | 5,063 | ||||||||||||
Specialty Retail | — | 249,860 | — | 249,860 | ||||||||||||
Corporate Bonds | ||||||||||||||||
Aerospace & Defense | — | 3,193,843 | — | 3,193,843 | ||||||||||||
Airlines | — | 3,332,905 | — | 3,332,905 | ||||||||||||
Auto Components | — | 2,039,917 | 1 | 2,039,918 | ||||||||||||
Automobiles | — | 1,981,711 | — | 1,981,711 | ||||||||||||
Banks | — | 144,289 | — | 144,289 |
SCHEDULE OF INVESTMENTS | 24 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
Beverages | $ | — | $ | 1,640,549 | $ | — | $ | 1,640,549 | ||||||||
Biotechnology | — | 80,246 | — | 80,246 | ||||||||||||
Building Materials | — | 830,350 | — | 830,350 | ||||||||||||
Building Products | — | 1,418,198 | — | 1,418,198 | ||||||||||||
Capital Markets | — | 1,553,675 | — | 1,553,675 | ||||||||||||
Chemicals | — | 2,932,260 | — | 2,932,260 | ||||||||||||
Commercial Services & Supplies | — | 1,125,181 | — | 1,125,181 | ||||||||||||
Communications Equipment | — | 695,850 | — | 695,850 | ||||||||||||
Construction Materials | — | 425,138 | — | 425,138 | ||||||||||||
Consumer Discretionary | — | 1,977,760 | — | 1,977,760 | ||||||||||||
Consumer Finance | — | 2,293,041 | — | 2,293,041 | ||||||||||||
Containers & Packaging | — | 828,848 | — | 828,848 | ||||||||||||
Diversified Consumer Services | — | 2,309,778 | — | 2,309,778 | ||||||||||||
Diversified Financial Services | — | 1,156,162 | — | 1,156,162 | ||||||||||||
Diversified Telecommunication Services | — | 4,570,521 | — | 4,570,521 | ||||||||||||
Electric Utilities | — | 525,421 | — | 525,421 | ||||||||||||
Electrical Equipment | — | 345,575 | 1 | 345,576 | ||||||||||||
Electronic Equipment, Instruments & Components | — | 1,204,223 | — | 1,204,223 | ||||||||||||
Energy Equipment & Services | — | 700,911 | — | 700,911 | ||||||||||||
Entertainment | — | 293,994 | — | 293,994 | ||||||||||||
Environmental, Maintenance & Security Service | — | 823,403 | — | 823,403 | ||||||||||||
Equity Real Estate Investment Trusts (REITs) | — | 1,151,088 | — | 1,151,088 | ||||||||||||
Food & Staples Retailing | — | 1,332,422 | — | 1,332,422 | ||||||||||||
Food Products | — | 1,079,512 | — | 1,079,512 | ||||||||||||
Gas Utilities | — | 50,300 | — | 50,300 | ||||||||||||
Health Care Equipment & Supplies | — | 684,818 | — | 684,818 | ||||||||||||
Health Care Providers & Services | — | 3,961,475 | — | 3,961,475 | ||||||||||||
Health Care Technology | — | 1,154,641 | — | 1,154,641 | ||||||||||||
Hotels, Restaurants & Leisure | — | 4,612,230 | — | 4,612,230 | ||||||||||||
Household Durables | — | 841,154 | — | 841,154 | ||||||||||||
Household Products | — | 33,732 | — | 33,732 | ||||||||||||
Independent Power and Renewable Electricity Producers | — | 680,781 | — | 680,781 | ||||||||||||
Industrial Conglomerates | — | 14,508 | — | 14,508 | ||||||||||||
Insurance | — | 2,196,064 | — | 2,196,064 | ||||||||||||
Interactive Media & Services | — | 478,893 | — | 478,893 | ||||||||||||
Internet Software & Services | — | 1,882,515 | — | 1,882,515 | ||||||||||||
IT Services | — | 3,319,854 | — | 3,319,854 | ||||||||||||
Leisure Products | — | 183,080 | — | 183,080 | ||||||||||||
Machinery | — | 2,201,391 | — | 2,201,391 | ||||||||||||
Media | — | 11,045,678 | — | 11,045,678 | ||||||||||||
Metals & Mining | — | 2,441,321 | — | 2,441,321 | ||||||||||||
Mortgage Real Estate Investment Trusts (REITs) | — | 8,842 | — | 8,842 | ||||||||||||
Multiline Retail | — | 113,019 | — | 113,019 | ||||||||||||
Offshore Drilling & Other Services | — | 50,702 | — | 50,702 | ||||||||||||
Oil, Gas & Consumable Fuels | 63,844 | 12,020,221 | — | 12,084,065 | ||||||||||||
Personal Products | — | 4,230 | — | 4,230 | ||||||||||||
Pharmaceuticals | — | 1,043,379 | — | 1,043,379 | ||||||||||||
Real Estate | — | 26,616 | — | 26,616 | ||||||||||||
Real Estate Management & Development | — | 572,450 | — | 572,450 | ||||||||||||
Road & Rail | — | 152,936 | — | 152,936 | ||||||||||||
Semiconductors & Semiconductor Equipment | — | 811,545 | — | 811,545 | ||||||||||||
Software | — | 2,322,721 | — | 2,322,721 | ||||||||||||
Specialty Retail | — | 375,632 | — | 375,632 | ||||||||||||
Technology Hardware, Storage & Peripherals | — | 156,341 | — | 156,341 | ||||||||||||
Textiles, Apparel & Luxury Goods | — | 132,378 | — | 132,378 | ||||||||||||
Thrifts & Mortgage Finance | — | 376,183 | — | 376,183 | ||||||||||||
Utilities | — | 212,927 | — | 212,927 | ||||||||||||
Wireless Telecommunication Services | — | 1,652,529 | — | 1,652,529 | ||||||||||||
Floating Rate Loan Interests | — | 516,205,908 | 44,294,064 | 560,499,972 | ||||||||||||
Investment Companies | 327,078 | — | — | 327,078 | ||||||||||||
Other Interests | — | — | — | — | ||||||||||||
Preferred Securities | ||||||||||||||||
Capital Trusts | — | 1,904,629 | — | 1,904,629 |
25 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | $ | 335,091 | $ | — | $ | 73,634 | $ | 408,725 | ||||||||
Warrants | 11,981 | — | — | 11,981 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 3,128,149 | — | — | 3,128,149 | ||||||||||||
Liabilities | ||||||||||||||||
Unfunded Floating Rate Loan Interests(a) | — | (47,917 | ) | (11,521 | ) | (59,438 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 4,123,525 | $ | 616,281,568 | $ | 44,367,821 | $ | 664,772,914 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(b) | ||||||||||||||||
Assets | ||||||||||||||||
Credit Contracts | $ | — | $ | 791 | $ | — | $ | 791 | ||||||||
Foreign Currency Exchange Contracts | — | 108,459 | — | 108,459 | ||||||||||||
Liabilities | ||||||||||||||||
Credit Contracts | — | (453,566 | ) | — | (453,566 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | — | $ | (344,316 | ) | $ | — | $ | (344,316 | ) | |||||||
|
|
|
|
|
|
|
|
(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. |
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, bank borrowings payable of $197,000,000 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 | Other Interests | Preferred Stocks | Unfunded Floating Rate Loan Interests | Total | ||||||||||||||||||||||
Assets/Liabilities | ||||||||||||||||||||||||||||
Opening balance, as of December 31, 2021 | $ | 11,700 | $ | 1 | $ | 26,559,403 | $ | — | (a) | $ | 86,236 | $ | (259 | ) | $ | 26,657,081 | ||||||||||||
Transfers into Level 3(b) | — | — | 31,975,156 | — | — | (1,943 | ) | 31,973,213 | ||||||||||||||||||||
Transfers out of Level 3(c) | — | — | (7,874,394 | ) | — | — | — | (7,874,394 | ) | |||||||||||||||||||
Accrued discounts/premiums | — | — | 293,221 | — | — | — | 293,221 | |||||||||||||||||||||
Net realized gain (loss) | — | — | 95,844 | — | — | — | 95,844 | |||||||||||||||||||||
Net change in unrealized appreciation (depreciation)(d) | (58 | ) | 1 | (4,667,574 | ) | — | (12,602 | ) | (9,319 | ) | (4,689,552 | ) | ||||||||||||||||
Purchases | — | — | 5,158,949 | — | — | — | 5,158,949 | |||||||||||||||||||||
Sales | — | — | (7,246,541 | ) | — | — | — | (7,246,541 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Closing balance, as of September 30, 2022 | $ | 11,642 | $ | 2 | $ | 44,294,064 | $ | — | (a) | $ | 73,634 | $ | (11,521 | ) | $ | 44,367,821 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
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Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2022(d) | $ | (58 | ) | $ | 1 | $ | (4,542,951 | ) | $ | — | $ | (12,602 | ) | $ | (9,319 | ) | $ | (4,564,929 | ) | |||||||||
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(a) | Rounds to less than $1. |
(b) | As of December 31, 2021, the Fund used observable inputs in determining the value of certain investments. As of September 30, 2022, 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, 2021, the Fund used significant unobservable inputs in determining the value of certain investments. As of September 30, 2022, 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, 2022 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.
SCHEDULE OF INVESTMENTS | 26 |
Schedule of Investments (unaudited) (continued) September 30, 2022 | BlackRock Debt Strategies Fund, Inc. (DSU) |
Currency Abbreviation | ||
EUR | Euro | |
GBP | British Pound | |
USD | United States Dollar | |
Portfolio Abbreviation | ||
CDI | CREST Depository Interest | |
CME | Chicago Mercantile Exchange | |
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 | |
PIK | Payment-in-Kind | |
REIT | Real Estate Investment Trust | |
SCA | Societe en Commandite par Actions | |
SOFR | Secured Overnight Financing Rate | |
SONIA | Sterling Overnight Interbank Average Rate |
27 |
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