Schedule of Investments (unaudited) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Asset-Backed Securities | ||||||||||||
Golub Capital Partners CLO 66B Ltd., Series 2023- 66, Class D, (3 mo. Term SOFR + 5.50%), 10.48%, 04/25/36(a) | USD | 1,000 | $ | 1,000,000 | ||||||||
Pikes Peak CLO Ltd., Series 2023-14, Class D, (3 mo. Term SOFR + 5.45%), 0.00%, 04/20/36(a) | 1,000 | 1,000,000 | ||||||||||
Symphony CLO 38 Ltd., Series 2023-38, Class D, (3 mo. Term SOFR + 5.20%), 10.02%, 04/24/36(a) | 1,000 | 998,550 | ||||||||||
Whitebox CLO IV Ltd., Series 2023-4A, Class D, (3 mo. Term SOFR + 5.15%), 9.93%, 04/20/36(a)(b) | 1,000 | 999,710 | ||||||||||
|
| |||||||||||
Total Asset-Backed Securities — 0.9% |
| 3,998,260 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Common Stocks | ||||||||||||
Construction & Engineering — 0.0% | ||||||||||||
McDermott International Ltd.(c) | 123,933 | 42,137 | ||||||||||
|
| |||||||||||
Electrical Equipment — 0.0% | ||||||||||||
SunPower Corp.(c) | 1,860 | 25,743 | ||||||||||
|
| |||||||||||
Energy Equipment & Services(d) — 0.0% | ||||||||||||
Project Investor Holdings LLC | 6,099 | 1,464 | ||||||||||
Project Investor Holdings LLC, (Acquired 02/12/19, Cost: $0)(e) | 6,099 | — | ||||||||||
|
| |||||||||||
1,464 | ||||||||||||
Oil, Gas & Consumable Fuels — 0.0% | ||||||||||||
Kcad Holdings I Ltd.(d) | 309,827,230 | 3,098 | ||||||||||
|
| |||||||||||
Semiconductors & Semiconductor Equipment — 0.0% | ||||||||||||
Maxeon Solar Technologies Ltd.(c) | 232 | 6,157 | ||||||||||
|
| |||||||||||
Software — 0.0% | ||||||||||||
Avaya Holdings Corp.(c) | 66 | — | ||||||||||
|
| |||||||||||
Specialty Retail — 0.1% | ||||||||||||
NMG Parent LLC | 3,613 | 457,648 | ||||||||||
|
| |||||||||||
Total Common Stocks — 0.1% | 536,247 | |||||||||||
|
| |||||||||||
Par (000) | ||||||||||||
Corporate Bonds | ||||||||||||
Automobile Components — 0.1% | ||||||||||||
Clarios Global LP, 6.75%, 05/15/25(b) | USD | 446 | 450,750 | |||||||||
|
| |||||||||||
Building Materials — 0.0% | ||||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(b) | 118 | 111,510 | ||||||||||
|
|
Security | Par (000) | Value | ||||||||||
Building Products — 0.1% | ||||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28(b) | USD | 250 | $ | 216,865 | ||||||||
|
| |||||||||||
Capital Markets — 0.0% | ||||||||||||
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27(b) | 119 | 119,775 | ||||||||||
|
| |||||||||||
Chemicals(b) — 0.1% | ||||||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28 | 51 | 45,212 | ||||||||||
WR Grace Holdings LLC, 5.63%, 08/15/29 | 388 | 328,830 | ||||||||||
|
| |||||||||||
374,042 | ||||||||||||
Construction Materials — 0.0% | ||||||||||||
Wesco Aircraft Holdings, Inc., 9.00%, 11/15/26(b) | 1,013 | 81,040 | ||||||||||
|
| |||||||||||
Diversified Telecommunication Services — 0.0% | ||||||||||||
Zayo Group Holdings, Inc., 6.13%, 03/01/28(b) | 251 | 152,658 | ||||||||||
|
| |||||||||||
Electric Utilities — 0.0% | ||||||||||||
Pike Corp., 5.50%, 09/01/28(b) | 144 | 126,000 | ||||||||||
Texas Competitive Electric Holdings, 1.00%, 11/10/21(c)(d)(f) | 1,710 | — | ||||||||||
|
| |||||||||||
126,000 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.2% | ||||||||||||
Vertiv Group Corp., 4.13%, 11/15/28(b) | 901 | 795,002 | ||||||||||
|
| |||||||||||
Health Care Providers & Services — 0.1% | ||||||||||||
Medline Borrower LP, 5.25%, 10/01/29(b) | 384 | 333,163 | ||||||||||
|
| |||||||||||
Hotels, Restaurants & Leisure(b) — 0.2% | ||||||||||||
Caesars Entertainment, Inc., 4.63%, 10/15/29 | 390 | 341,055 | ||||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 6.75%, 01/15/30 | 641 | 527,370 | ||||||||||
|
| |||||||||||
868,425 | ||||||||||||
Insurance — 0.1% | ||||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27(b) | 357 | 331,118 | ||||||||||
|
| |||||||||||
Internet Software & Services(b) — 0.2% | ||||||||||||
Expedia Group, Inc., 6.25%, 05/01/25 | 337 | 341,090 | ||||||||||
Uber Technologies, Inc., 4.50%, 08/15/29 | 381 | 347,186 | ||||||||||
|
| |||||||||||
688,276 | ||||||||||||
Machinery — 0.2% | ||||||||||||
Madison IAQ LLC, 5.88%, 06/30/29(b) | 1,203 | 929,317 | ||||||||||
|
| |||||||||||
Media(b) — 0.2% | ||||||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(g) | 244 | 58,361 | ||||||||||
Odeon Finco PLC, 12.75%, 11/01/27 | 607 | 558,184 | ||||||||||
Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 09/15/26 | 573 | 448,372 | ||||||||||
|
| |||||||||||
1,064,917 | ||||||||||||
Oil, Gas & Consumable Fuels — 0.1% | ||||||||||||
Occidental Petroleum Corp., 6.63%, 09/01/30 | 619 | 651,912 | ||||||||||
|
| |||||||||||
Passenger Airlines — 0.3% | ||||||||||||
Allegiant Travel Co., 8.50%, 02/05/24(b) | 1,195 | 1,195,000 | ||||||||||
|
|
1 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Real Estate Management & Development — 0.1% | ||||||||||||
Realogy Group LLC/Realogy Co.-Issuer Corp., 5.75%, 01/15/29(b) | USD | 510 | $ | 381,715 | ||||||||
|
| |||||||||||
Wireless Telecommunication Services — 0.0% | ||||||||||||
VICI Properties LP/VICI Note Co., Inc., 4.63%, 06/15/25(b) | 138 | 133,420 | ||||||||||
|
| |||||||||||
Total Corporate Bonds — 2.0% |
| 9,004,905 | ||||||||||
|
| |||||||||||
Floating Rate Loan Interests(a) | ||||||||||||
Aerospace & Defense — 3.2% | ||||||||||||
Atlas CC Acquisition Corp. | ||||||||||||
Term Loan B, (3 mo. SOFR CME at 0.75% Floor + 4.25%), 9.40%, 05/25/28 | 2,839 | 2,431,606 | ||||||||||
Term Loan C, (3 mo. SOFR CME at 0.75% Floor + 4.25%), 9.40%, 05/25/28 | 578 | 494,564 | ||||||||||
Bleriot U.S. Bidco, Inc., 2021 Term Loan B, (3 mo. LIBOR US + 4.00%), 9.16%, 10/31/26 | 706 | 705,216 | ||||||||||
Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, (6 mo. LIBOR US at 0.50% Floor + 3.50%), 8.56%, 08/03/29 | 372 | 363,372 | ||||||||||
Nordam Group, Inc., Term Loan B, (1 mo. LIBOR US + 5.60%), 10.41%, 04/09/26 | 760 | 590,389 | ||||||||||
Peraton Corp. | ||||||||||||
2nd Lien Term Loan B1, (3 mo. LIBOR US at 0.75% Floor + 7.75%), 12.65%, 02/01/29 | 1,699 | 1,648,380 | ||||||||||
Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 3.75%), 8.59%, 02/01/28 | 5,685 | 5,602,465 | ||||||||||
TransDigm, Inc., 2023 Term Loan I, (3 mo. SOFR CME + 3.25%), 8.15%, 08/24/28 | 3,009 | 2,997,545 | ||||||||||
|
| |||||||||||
14,833,537 | ||||||||||||
Air Freight & Logistics — 0.3% | ||||||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR US at 0.75% Floor + 4.75%), 9.45%, 04/06/28 | 577 | 556,044 | ||||||||||
Kestrel Bidco, Inc., Term Loan B, (1 mo. SOFR CME at 1.00% Floor + 3.00%), 7.86%, 12/11/26 | 413 | 394,648 | ||||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 4.25%), 9.09%, 12/15/28 | 804 | 674,102 | ||||||||||
|
| |||||||||||
1,624,794 | ||||||||||||
Automobile Components — 1.4% | ||||||||||||
Adient U.S. LLC, 2021 Term Loan B, (1 mo. LIBOR US + 3.25%), 8.09%, 04/10/28 | 524 | 519,856 | ||||||||||
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR US + 3.25%), 8.09%, 04/30/26 | 3,646 | 3,618,635 | ||||||||||
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR US + 2.75%), 7.59%, 02/05/26 | 2,566 | 2,513,078 | ||||||||||
|
| |||||||||||
6,651,569 |
Security | Par (000) | Value | ||||||||||
Banks — 0.8% | ||||||||||||
DirecTV Financing LLC, Term Loan, (1 mo. LIBOR US at 0.75% Floor + 5.00%), 9.84%, 08/02/27 | USD | 2,312 | $ | 2,220,884 | ||||||||
LABL, Inc., 2021 USD 1st Lien Term Loan, (1 mo. LIBOR US at 0.50% Floor + 5.00%), 9.84%, 10/29/28 | 1,601 | 1,548,714 | ||||||||||
|
| |||||||||||
3,769,598 | ||||||||||||
Beverages — 0.9% | ||||||||||||
Naked Juice LLC | ||||||||||||
2nd Lien Term Loan, (3 mo. SOFRTE at 0.50% Floor + 6.00%), 11.00%, 01/24/30 | 1,804 | 1,345,426 | ||||||||||
Term Loan, (3 mo. SOFRTE at 0.50% Floor + 3.25%), 8.25%, 01/24/29 | 3,000 | 2,630,687 | ||||||||||
|
| |||||||||||
3,976,113 | ||||||||||||
Building Materials — 0.0% | ||||||||||||
Cornerstone Building Brands, Inc., 2021 Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 7.93%, 04/12/28 | 265 | 232,538 | ||||||||||
|
| |||||||||||
Building Products — 2.0% | ||||||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 3.50%), 8.41%, 11/23/27 | 1,462 | 1,292,541 | ||||||||||
CPG International LLC, 2022 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.50%), 7.41%, 04/28/29 | 796 | 784,721 | ||||||||||
Jeld-Wen, Inc., 2021 Term Loan B, (1 mo. LIBOR US + 2.25%), 7.09%, 07/28/28 | 817 | 790,669 | ||||||||||
LSF10 XL Bidco SCA, 2021 EUR Term Loan B4, (3 mo. EURIBOR + 3.925%), 6.94%, 04/12/28 | EUR | 853 | 793,924 | |||||||||
New AMI I LLC, 2022 Term Loan B, (1 mo. SOFRTE at 0.50% Floor + 6.00%), 10.81%, 03/08/29 | USD | 844 | 724,125 | |||||||||
Standard Industries, Inc., 2021 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.00%), 7.12%, 09/22/28 | 1,605 | 1,594,100 | ||||||||||
Wilsonart LLC, 2021 Term Loan E, (6 mo. LIBOR US at 1.00% Floor + 3.25%), 8.46%, 12/31/26 | 3,164 | 3,039,236 | ||||||||||
|
| |||||||||||
9,019,316 | ||||||||||||
Capital Markets — 3.9% | ||||||||||||
Ascensus Holdings, Inc. | ||||||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR US at 0.50% Floor + 6.50%), 11.31%, 08/02/29 | 2,698 | 2,410,635 | ||||||||||
Term Loan, (3 mo. LIBOR US at 0.50% Floor + 3.50%), 8.38%, 08/02/28 | 2,828 | 2,739,627 | ||||||||||
Castlelake Aviation One DAC, 2023 Incremental Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 2.75%), 7.78%, 10/22/27 | 718 | 706,982 | ||||||||||
Deerfield Dakota Holding LLC | ||||||||||||
2020 USD Term Loan B, (1 mo. SOFR CME at 1.00% Floor + 3.75%), 8.65%, 04/09/27 | 6,163 | 5,957,300 | ||||||||||
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR US at 0.75% Floor + 6.75%), 11.91%, 04/07/28 | 1,806 | 1,653,989 | ||||||||||
Eagle Broadband Investments LLC, Term Loan, (3 mo. LIBOR US at 0.75% Floor + 3.00%), 8.19%, 11/12/27 | 1,511 | 1,479,392 | ||||||||||
FinCo I LLC, 2020 Term Loan B, (1 mo. LIBOR US + 2.30%), 7.14%, 06/27/25 | 615 | 614,006 |
SCHEDULE OF INVESTMENTS | 2 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Capital Markets (continued) | ||||||||||||
Focus Financial Partners LLC, 2021 Term Loan B4, (1 mo. SOFR CME at 0.50% Floor + 2.50%), 7.31%, 06/30/28 | USD | 1,466 | $ | 1,441,068 | ||||||||
Greenhill & Co., Inc., Term Loan B, (3 mo. LIBOR US + 3.25%), 8.20%, 04/12/24 | 1,162 | 1,132,983 | ||||||||||
|
| |||||||||||
18,135,982 | ||||||||||||
Chemicals — 5.3% | ||||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. SOFR CME at 0.75% Floor + 4.75%), 9.71%, 08/27/26 | 2,508 | 2,461,636 | ||||||||||
Axalta Coating Systems U.S. Holdings, Inc., 2022 USD Term Loan B4, (3 mo. SOFR CME at 0.50% Floor + 3.00%), 7.90%, 12/20/29 | 1,205 | 1,205,556 | ||||||||||
CPC Acquisition Corp., Term Loan, (3 mo. SOFR CME at 0.75% Floor + 3.75%), 8.91%, 12/29/27 | 644 | 488,298 | ||||||||||
Discovery Purchaser Corp., Term Loan, (3 mo. SOFR CME at 0.50% Floor + 4.375%), 8.96%, 10/04/29 | 1,325 | 1,252,379 | ||||||||||
Element Solutions, Inc., 2019 Term Loan B1, (1 mo. LIBOR US + 2.00%), 6.81%, 01/31/26 | 1,980 | 1,973,069 | ||||||||||
HB Fuller Co., 2023 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.50%), 7.31%, 02/15/30 | 293 | 294,008 | ||||||||||
Illuminate Buyer LLC, 2021 Term Loan, (1 mo. LIBOR US + 3.50%), 8.34%, 06/30/27 | 1,388 | 1,363,408 | ||||||||||
INEOS U.S. Finance LLC, 2023 USD Term Loan B, (3 mo. SOFR CME + 3.50%), 8.41%, 02/18/30 | 678 | 673,518 | ||||||||||
Lonza Group AG, USD Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 4.00%), 9.16%, 07/03/28 | 1,071 | 990,116 | ||||||||||
LSF11 A5 Holdco LLC, Term Loan, (1 mo. SOFRTE at 0.50% Floor + 3.50%), 8.42%, 10/15/28 | 1,820 | 1,761,421 | ||||||||||
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. SOFR CME + 2.50%), 7.66%, 03/02/26 | 2,155 | 2,147,076 | ||||||||||
Momentive Performance Materials, Inc., 2023 Term Loan, 03/31/28(d)(h) | 2,044 | 1,998,010 | ||||||||||
OQ Chemicals Corp., 2017 USD Term Loan B2, (1 mo. LIBOR US + 3.25%), 8.00%, 10/14/24 | 1,714 | 1,661,940 | ||||||||||
PQ Corp., 2021 Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 2.50%), 7.33%, 06/09/28 | 1,725 | 1,708,828 | ||||||||||
Pregis TopCo Corp., 2021 Incremental Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.75%), 8.59%, 07/31/26 | 699 | 678,565 | ||||||||||
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 4.00%), 8.83%, 03/16/27 | 1,051 | 1,022,825 | ||||||||||
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1 mo. LIBOR US at 0.75% Floor + 3.25%), 7.92%, 08/02/28 | 1,640 | 1,619,897 | ||||||||||
Starfruit Finco BV, 2018 USD Term Loan B, (3 mo. SOFR CME + 2.75%), 7.53%, 10/01/25 | 159 | 156,958 | ||||||||||
W.R. Grace Holdings LLC, 2021 Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 3.75%), 8.94%, 09/22/28 | 928 | 918,958 | ||||||||||
|
| |||||||||||
24,376,466 | ||||||||||||
Commercial Services & Supplies — 4.1% | ||||||||||||
Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 3.75%), 8.66%, 05/12/28 | 2,616 | 2,480,022 |
Security | Par (000) | Value | ||||||||||
Commercial Services & Supplies (continued) | ||||||||||||
Amentum Government Services Holdings LLC, 2022 Term Loan, (3 mo. SOFR CME + 4.00%), 8.91%, 02/15/29 | USD | 785 | $ | 765,771 | ||||||||
Aramark Services, Inc., 2018 Term Loan B3, (1 mo. LIBOR US + 1.75%), 6.59%, 03/11/25 | 155 | 154,148 | ||||||||||
Asurion LLC | ||||||||||||
2020 Term Loan B8, (1 mo. LIBOR US + 3.25%), 8.09%, 12/23/26 | 295 | 273,245 | ||||||||||
2021 2nd Lien Term Loan B3, (1 mo. LIBOR US + 5.25%), 10.09%, 01/31/28 | 1,117 | 925,776 | ||||||||||
2021 Second Lien Term Loan B4, (1 mo. LIBOR US + 5.25%), 10.09%, 01/20/29 | 1,596 | 1,311,912 | ||||||||||
2023 Term Loan B11, (1 mo. SOFR CME + 4.25%), 9.16%, 08/19/28 | 1,337 | 1,236,218 | ||||||||||
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1 mo. LIBOR US + 2.00%), 6.84%, 10/08/28 | 695 | 697,459 | ||||||||||
Covanta Holding Corp. | ||||||||||||
2021 Term Loan C, (1 mo. SOFR CME at 0.50% Floor + 2.50%), 7.31%, 11/30/28 | 85 | 85,171 | ||||||||||
2021 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.50%), 7.31%, 11/30/28 | 1,132 | 1,125,658 | ||||||||||
Creative Artists Agency LLC, 2023 Term Loan B, (1 mo. SOFR CME + 3.50%), 8.31%, 11/27/28 | 1,564 | 1,556,837 | ||||||||||
EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR US at 1.00% Floor + 3.75%), 8.91%, 05/09/25 | 514 | 494,753 | ||||||||||
GFL Environmental, Inc., 2023 Term Loan, (1 mo. SOFR CME at 0.50% Floor + 3.00%), 7.91%, 05/28/27 | 1,282 | 1,281,409 | ||||||||||
Packers Holdings LLC, 2021 Term Loan, (1 mo. SOFR CME at 0.75% Floor + 3.25%), 8.09%, 03/09/28 | 907 | 818,356 | ||||||||||
Prime Security Services Borrower LLC, 2021 Term Loan, (3 mo. LIBOR US at 0.75% Floor + 2.75%), 7.52%, 09/23/26 | 1,923 | 1,914,444 | ||||||||||
Verscend Holding Corp., 2021 Term Loan B, (10 mo. LIBOR US + 4.00%), 8.84%, 08/27/25 | 3,109 | 3,101,631 | ||||||||||
Viad Corp., Initial Term Loan, (1 mo. SOFR CME at 0.50% Floor + 5.00%), 9.92%, 07/30/28 | 780 | 743,064 | ||||||||||
|
| |||||||||||
| 18,965,874 |
| ||||||||||
Communications Equipment — 0.5% | ||||||||||||
Ciena Corp., 2023 Term Loan B, (1 mo. SOFR CME + 2.50%), 7.19%, 01/18/30 | 213 | 212,602 | ||||||||||
ViaSat, Inc., Term Loan, (1 mo. SOFR CME at 0.50% Floor + 4.50%), 9.42%, 03/02/29 | 2,011 | 1,947,878 | ||||||||||
|
| |||||||||||
2,160,480 | ||||||||||||
Construction & Engineering — 1.7% | ||||||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR US at 1.00% Floor + 4.25%), 9.13%, 06/21/24 | 2,522 | 2,346,399 | ||||||||||
Pike Corp., 2021 Incremental Term Loan B, (1 mo. LIBOR US + 3.00%), 7.85%, 01/21/28 | 1,045 | 1,035,782 | ||||||||||
SRS Distribution, Inc., 2021 Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.50%), 8.34%, 06/02/28 | 2,765 | 2,664,400 | ||||||||||
USIC Holdings, Inc., 2021 Term Loan, (1 mo. LIBOR US at 0.75% Floor + 3.50%), 8.34%, 05/12/28 | 1,747 | 1,687,261 | ||||||||||
|
| |||||||||||
7,733,842 |
3 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Construction Materials — 1.7% | ||||||||||||
Core & Main LP, 2021 Term Loan B, (1 mo. SOFR CME + 2.50%), 7.37%, 07/27/28(d) | USD | 4,089 | $ | 4,057,852 | ||||||||
Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR US + 3.00%), 7.84%, 03/29/25 | 2,371 | 2,361,913 | ||||||||||
Oscar AcquisitionCo. LLC, Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 4.50%), 9.50%, 04/29/29 | 1,103 | 1,060,203 | ||||||||||
Tamko Building Products LLC, Term Loan B, (3 mo. LIBOR US + 3.00%), 7.87%, 06/01/26 | 362 | 351,767 | ||||||||||
|
| |||||||||||
7,831,735 | ||||||||||||
Consumer Staples Distribution & Retail — 0.4% | ||||||||||||
H-Food Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR US + 3.688%), 8.53%, 05/23/25 | 499 | 425,678 | ||||||||||
U.S. Foods, Inc. | ||||||||||||
2019 Term Loan B, (1 mo. LIBOR US + 2.00%), 6.84%, 09/13/26 | 711 | 706,941 | ||||||||||
2021 Term Loan B, (1 mo. LIBOR US + 2.75%), 7.59%, 11/22/28 | 894 | 891,355 | ||||||||||
|
| |||||||||||
2,023,974 | ||||||||||||
Containers & Packaging — 1.6% | ||||||||||||
Charter Next Generation, Inc., 2021 Term Loan, (1 mo. SOFR CME at 0.75% Floor + 3.75%), 8.67%, 12/01/27 | 3,488 | 3,438,889 | ||||||||||
Mauser Packaging Solutions Holding Co., Term Loan B, (3 mo. SOFR CME + 4.00%), 8.78%, 08/14/26 | 1,262 | 1,249,834 | ||||||||||
Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. SOFR CME + 3.75%), 8.67%, 07/31/26 | 614 | 597,607 | ||||||||||
Tosca Services LLC, 2021 Term Loan, (1 mo. LIBOR US at 0.75% Floor + 3.50%), 8.42%, 08/18/27 | 1,174 | 900,863 | ||||||||||
Trident TPI Holdings, Inc., 2021 Incremental Term Loan, (3 mo. LIBOR US at 0.50% Floor + 4.00%), 9.16%, 09/15/28 | 1,144 | 1,103,962 | ||||||||||
|
| |||||||||||
7,291,155 | ||||||||||||
Distributors — 1.6% | ||||||||||||
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. SOFR CME + 2.00%), 6.91%, 01/15/27 | 1,191 | 1,182,752 | ||||||||||
CNT Holdings I Corp., 2020 Term Loan, (3 mo. SOFR CME at 0.75% Floor + 3.50%), 8.13%, 11/08/27 | 1,833 | 1,799,478 | ||||||||||
Dealer Tire Financial LLC, Term Loan B2, (1 mo. SOFR CME at 0.50% Floor + 4.50%), 9.31%, 12/14/27 | 2,538 | 2,517,658 | ||||||||||
Go Daddy Operating Co. LLC, 2022 Term Loan B5, (1 mo. SOFR CME + 3.25%), 8.06%, 11/09/29 | 1,485 | 1,482,500 | ||||||||||
PUG LLC, 2021 Incremental Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 4.25%), 9.09%, 02/12/27(d) | 366 | 261,990 | ||||||||||
|
| |||||||||||
7,244,378 | ||||||||||||
Diversified Consumer Services — 2.0% | ||||||||||||
2U, Inc., 2023 Term Loan B, (3 mo. SOFR CME at 0.75% Floor + 6.50%), 11.32%, 12/28/26 | 954 | 914,542 | ||||||||||
Ascend Learning LLC | ||||||||||||
2021 2nd Lien Term Loan, (1 mo. SOFR CME at 0.50% Floor + 5.75%), 10.66%, 12/10/29 | 781 | 670,356 | ||||||||||
2021 Term Loan, (1 mo. SOFR CME at 0.50% Floor + 3.50%), 8.41%, 12/11/28 | 1,920 | 1,768,524 |
Security | Par (000) | Value | ||||||||||
Diversified Consumer Services (continued) | ||||||||||||
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.25%), 7.17%, 11/24/28 | USD | 925 | $ | 909,678 | ||||||||
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (3 mo. LIBOR US + 3.75%), 8.59%, 07/11/25 | 975 | 966,539 | ||||||||||
OLA Netherlands BV, Term Loan, (1 mo. SOFR CME at 0.75% Floor + 6.25%), 11.11%, 12/15/26 | 851 | 804,572 | ||||||||||
PAI Holdco, Inc., 2020 Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 3.75%), 8.58%, 10/28/27 | 1,018 | 952,068 | ||||||||||
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 4.50%), 9.33%, 01/15/27 | 1,775 | 1,761,913 | ||||||||||
Voyage Australia Pty. Ltd., USD Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 3.50%), 8.40%, 07/20/28 | 326 | 320,803 | ||||||||||
|
| |||||||||||
9,068,995 | ||||||||||||
Diversified REITs — 0.2% | ||||||||||||
RHP Hotel Properties LP, 2017 Term Loan B, (1 mo. LIBOR US + 2.00%), 6.85%, 05/11/24 | 862 | 860,211 | ||||||||||
|
| |||||||||||
Diversified Telecommunication Services — 1.7% | ||||||||||||
Cablevision Lightpath LLC, Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 7.93%, 11/30/27 | 233 | 229,983 | ||||||||||
Consolidated Communications, Inc., 2021 Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 3.50%), 8.38%, 10/02/27 | 808 | 634,524 | ||||||||||
Frontier Communications Holdings LLC, 2021 1st Lien Term Loan, (1 mo. LIBOR US at 0.75% Floor + 3.75%), 8.63%, 05/01/28 | 1,972 | 1,867,803 | ||||||||||
Iridium Satellite LLC, 2021 Term Loan B2, (1 mo. SOFR CME at 0.75% Floor + 2.50%), 7.41%, 11/04/26 | 1,798 | 1,795,388 | ||||||||||
Level 3 Financing, Inc., 2019 Term Loan B, (1 mo. SOFR CME + 1.75%), 6.67%, 03/01/27 | 1,496 | 1,258,151 | ||||||||||
Lumen Technologies, Inc., 2020 Term Loan B, (3 mo. SOFR CME + 2.25%), 7.17%, 03/15/27 | 1,376 | 903,770 | ||||||||||
Virgin Media SFA Finance Ltd., GBP Term Loan L, (1 mo. SONIA + 3.25%), 7.21%, 01/15/27 | GBP | 1,000 | 1,156,277 | |||||||||
|
| |||||||||||
7,845,896 | ||||||||||||
Electric Utilities — 0.9% | ||||||||||||
Constellation Renewables LLC, 2020 Term Loan, (3 mo. LIBOR US at 1.00% Floor + 2.50%), 7.46%, 12/15/27 | USD | 1,255 | 1,247,641 | |||||||||
Triton Water Holdings, Inc., Term Loan, (3 mo. LIBOR US at 0.50% Floor + 3.50%), 8.66%, 03/31/28 | 3,208 | 2,866,921 | ||||||||||
|
| |||||||||||
4,114,562 | ||||||||||||
Electrical Equipment — 0.9% | ||||||||||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3 mo. LIBOR US at 0.75% Floor + 4.75%), 9.91%, 06/23/28 | 1,525 | 1,451,408 | ||||||||||
AZZ, Inc., Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 4.25%), 9.16%, 05/13/29 | 262 | 261,088 | ||||||||||
Gates Global LLC, 2021 Term Loan B3, (1 mo. SOFR CME at 0.75% Floor + 2.50%), 7.41%, 03/31/27 | 2,412 | 2,394,845 | ||||||||||
|
| |||||||||||
4,107,341 |
SCHEDULE OF INVESTMENTS | 4 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Electronic Equipment, Instruments & Components — 0.4% | ||||||||||||
Coherent Corp., 2022 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.75%), 7.67%, 07/02/29 | USD | 1,659 | $ | 1,640,455 | ||||||||
|
| |||||||||||
Energy Equipment & Services — 0.7% | ||||||||||||
Oryx Midstream Services Permian Basin LLC, 2023 Incremental Term Loan, (1 mo. SOFR CME at 0.50% Floor + 3.25%), 8.06%, 10/05/28 |
| 3,085 | 3,027,955 | |||||||||
|
| |||||||||||
Entertainment — 0.8% | ||||||||||||
Cirque Du Soleil Holding USA Newco, Inc., 2023 Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 4.25%), 9.13%, 03/08/30 | 907 | 895,662 | ||||||||||
City Football Group Ltd., Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.00%), 7.78%, 07/21/28 | 1,579 | 1,502,036 | ||||||||||
Delta 2 Lux SARL, Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 3.25%), 8.06%, 01/15/30 | 1,291 | 1,291,542 | ||||||||||
|
| |||||||||||
3,689,240 | ||||||||||||
Environmental, Maintenance & Security Service — 0.8% | ||||||||||||
Asplundh Tree Expert LLC, 2021 Term Loan B, (1 mo. LIBOR US + 1.75%), 6.59%, 09/07/27 | 1,963 | 1,950,408 | ||||||||||
TruGreen LP, 2020 Term Loan, (1 mo. LIBOR US at 0.75% Floor + 4.00%), 8.84%, 11/02/27 | 1,647 | 1,518,712 | ||||||||||
|
| |||||||||||
3,469,120 | ||||||||||||
Financial Services — 5.6% | ||||||||||||
Acuris Finance U.S., Inc., 2021 USD Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 4.00%), 9.05%, 02/16/28 | 429 | 412,695 | ||||||||||
Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR US + 4.50%), 9.34%, 07/31/26 | 1,018 | 999,981 | ||||||||||
AlixPartners LLP, 2021 USD Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 2.75%), 7.61%, 02/04/28 | 1,727 | 1,718,958 | ||||||||||
Altice France SA/France, 2023 USD Term Loan B14, (2 mo. SOFR CME + 5.50%), 10.17%, 08/15/28(d) |
| 1,905 | 1,809,919 | |||||||||
Castlelake Aviation Ltd., Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 2.75%), 7.62%, 10/22/26 | 1,594 | 1,576,685 | ||||||||||
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 2.50%), 7.34%, 09/01/28 | 1,592 | 1,569,052 | ||||||||||
Delta TopCo, Inc., 2020 2nd Lien Term Loan, (3 mo. SOFR CME at 0.75% Floor + 7.25%), 12.16%, 12/01/28 | 385 | 326,288 | ||||||||||
EG America LLC, 2018 USD Term Loan, (3 mo. LIBOR US + 4.00%), 8.84%, 02/07/25 | 1,435 | 1,368,833 | ||||||||||
Gainwell Acquisition Corp., Term Loan B, (3 mo. SOFR CME at 0.75% Floor + 4.00%), 9.00%, 10/01/27 | 3,254 | 3,099,171 | ||||||||||
KKR Apple Bidco LLC, 2021 Term Loan, (1 mo. LIBOR US at 0.50% Floor + 2.75%), 7.59%, 09/23/28 | 930 | 918,774 | ||||||||||
LBM Acquisition LLC, Term Loan B, (6 mo. LIBOR US at 0.75% Floor + 3.75%), 8.59%, 12/17/27 | 508 | 476,855 | ||||||||||
Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 3.25%), 8.09%, 09/25/26 | 2,554 | 2,080,544 | ||||||||||
RVR Dealership Holdings LLC, Term Loan B, (1 mo. SOFRTE at 0.75% Floor + 3.75%), 8.55%, 02/08/28 | 243 | 206,211 |
Security | Par (000) | Value | ||||||||||
Financial Services (continued) | ||||||||||||
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3 mo. LIBOR US + 2.00%), 7.16%, 11/05/28 | USD | 1,340 | $ | 1,338,660 | ||||||||
SMG U.S. Midco 2, Inc., 2020 Term Loan, (3 mo. LIBOR US + 2.50%), 7.33%, 01/23/25 | 417 | 412,143 | ||||||||||
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR US + 4.00%), 8.90%, 07/30/25 | 224 | 221,547 | ||||||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (1 mo. LIBOR US at 1.00% Floor + 5.00%), 9.84%, 09/01/25 | 3,341 | 2,526,769 | ||||||||||
VS Buyer LLC, Term Loan B, (2 mo. LIBOR US + 3.00%), 7.70%, 02/28/27 | 1,656 | 1,636,249 | ||||||||||
White Cap Buyer LLC, Term Loan B, (1 mo. SOFR CME + 3.75%), 8.56%, 10/19/27 | 1,226 | 1,210,237 | ||||||||||
Ziggo Financing Partnership, USD Term Loan I, (1 mo. LIBOR US + 2.50%), 7.18%, 04/30/28 | 1,617 | 1,594,540 | ||||||||||
|
| |||||||||||
25,504,111 | ||||||||||||
Food Products — 2.7% | ||||||||||||
8th Avenue Food & Provisions, Inc. | ||||||||||||
2018 1st Lien Term Loan, (1 mo. LIBOR US + 3.75%), 8.59%, 10/01/25 | 1,186 | 1,040,546 | ||||||||||
2021 Incremental Term Loan, (1 mo. LIBOR US at 0.75% Floor + 4.75%), 9.59%, 10/01/25 | 1,519 | 1,341,501 | ||||||||||
Chobani LLC, 2020 Term Loan B, (1 mo. SOFR CME at 1.00% Floor + 3.50%), 8.42%, 10/25/27(d) | 2,736 | 2,708,273 | ||||||||||
Froneri International Ltd., 2020 USD Term Loan, (3 mo. LIBOR US + 2.25%), 7.41%, 01/29/27 | 3,542 | 3,486,508 | ||||||||||
Nomad Foods U.S. LLC, 2022 Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 3.75%), 8.23%, 11/12/29 | 1,012 | 1,010,640 | ||||||||||
Reynolds Group Holdings, Inc., 2020 Term Loan B2, (1 mo. LIBOR US + 3.25%), 8.09%, 02/05/26 | 366 | 363,892 | ||||||||||
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3 mo. LIBOR US at 0.75% Floor + 3.50%), 8.33%, 06/08/28(d) | 1,873 | 1,854,170 | ||||||||||
UTZ Quality Foods LLC, 2021 Term Loan B, (1 mo. SOFR CME + 3.00%), 7.92%, 01/20/28 | 681 | 677,399 | ||||||||||
|
| |||||||||||
12,482,929 | ||||||||||||
Gas Utilities — 0.8% | ||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 3.50%), 8.31%, 12/21/28 | 3,680 | 3,556,900 | ||||||||||
|
| |||||||||||
Ground Transportation — 0.7% | ||||||||||||
Avis Budget Car Rental LLC, 2020 Term Loan B, (1 mo. LIBOR US + 1.75%), 6.60%, 08/06/27 | 657 | 644,250 | ||||||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR US + 5.50%), 10.28%, 08/04/25 | 1,168 | 1,068,153 | ||||||||||
Uber Technologies, Inc., 2023 Term Loan B, (3 mo. SOFR CME + 2.75%), 7.87%, 02/28/30 | 1,608 | 1,603,451 | ||||||||||
|
| |||||||||||
3,315,854 | ||||||||||||
Health Care Equipment & Supplies — 1.6% | ||||||||||||
Electron BidCo, Inc., 2021 Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.00%), 7.84%, 11/01/28 | 2,185 | 2,150,044 |
5 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Health Care Equipment & Supplies (continued) | ||||||||||||
Insulet Corp., Term Loan B, (1 mo. SOFR CME + 3.25%), 8.17%, 05/04/28 | USD | 763 | $ | 761,257 | ||||||||
Medline Borrower LP, USD Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 8.09%, 10/23/28 | 4,337 | 4,223,366 | ||||||||||
|
| |||||||||||
7,134,667 | ||||||||||||
Health Care Providers & Services — 2.4% | ||||||||||||
CHG Healthcare Services, Inc., 2021 Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 8.09%, 09/29/28 | 1,020 | 1,009,459 | ||||||||||
Envision Healthcare Corp. | ||||||||||||
2022 First Out Term Loan, (3 mo. SOFR CME at 1.00% Floor + 7.875%), 12.92%, 03/31/27 | 176 | 146,211 | ||||||||||
2022 Second Out Term Loan, (3 mo. SOFR CME at 1.00% Floor + 4.25%), 9.15%, 03/31/27 | 1,170 | 277,929 | ||||||||||
EyeCare Partners LLC | ||||||||||||
2020 Term Loan, (1 mo. LIBOR US + 3.75%), 8.59%, 02/18/27 | 1,664 | 1,350,025 | ||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR US at 0.50% Floor + 6.75%), 11.59%, 11/15/29 | 581 | 438,566 | ||||||||||
2021 Incremental Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.75%), 8.59%, 11/15/28 | 534 | 431,122 | ||||||||||
Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR US + 4.50%), 9.66%, 03/05/26 | 688 | 613,694 | ||||||||||
Ingenovis Health, Inc., Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 3.75%), 8.60%, 03/06/28 | 1,616 | 1,557,517 | ||||||||||
Orbcomm, Inc., Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 4.25%), 9.15%, 09/01/28 | 870 | 705,267 | ||||||||||
PetVet Care Centers LLC, 2021 Term Loan B3, (1 mo. LIBOR US at 0.75% Floor + 3.50%), 8.34%, 02/14/25 | 52 | 49,902 | ||||||||||
Sotera Health Holdings LLC, 2021 Term Loan, (3 mo. LIBOR US at 0.50% Floor + 2.75%), 7.58%, 12/11/26 | 2,539 | 2,440,614 | ||||||||||
Surgery Center Holdings, Inc., 2021 Term Loan, (1 mo. LIBOR US at 0.75% Floor + 3.75%), 8.46%, 08/31/26 | 595 | 590,634 | ||||||||||
Vizient, Inc., 2022 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.25%), 7.11%, 05/16/29 | 335 | 334,747 | ||||||||||
WCG Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR US at 1.00% Floor + 4.00%), 8.95%, 01/08/27 | 1,229 | 1,158,771 | ||||||||||
|
| |||||||||||
11,104,458 | ||||||||||||
Health Care Services — 0.3% | ||||||||||||
Azalea Topco, Inc., Term Loan, (1 mo. LIBOR US + 3.50%), 8.34%, 07/24/26 | 965 | 899,638 | ||||||||||
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3 mo. SOFR CME at 0.50% Floor + 7.00%), 11.99%, 11/01/29 | 611 | 552,955 | ||||||||||
|
| |||||||||||
1,452,593 | ||||||||||||
Health Care Technology — 2.6% | ||||||||||||
AthenaHealth Group, Inc., 2022 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 3.50%), 8.26%, 02/15/29 | 2,992 | 2,797,300 | ||||||||||
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR US + 2.75%), 7.59%, 10/10/25 | 717 | 711,814 |
Security | Par (000) | Value | ||||||||||
Health Care Technology (continued) | ||||||||||||
Polaris Newco LLC, USD Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 4.00%), 9.16%, 06/02/28 | USD | 4,239 | $ | 3,856,082 | ||||||||
Press Ganey Holdings, Inc., 2021 Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 3.75%), 8.59%, 07/24/26 | 1,685 | 1,570,969 | ||||||||||
Verscend Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR US at 0.50% Floor + 7.00%), 11.84%, 04/02/29(d) | 3,092 | 3,092,000 | ||||||||||
|
| |||||||||||
12,028,165 | ||||||||||||
Hotels, Restaurants & Leisure — 7.3% | ||||||||||||
Aristocrat Technologies, Inc., 2022 Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 2.25%), 7.25%, 05/24/29 | 101 | 101,064 | ||||||||||
Bally’s Corp., 2021 Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 7.96%, 10/02/28 | 896 | 854,041 | ||||||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc., Term Loan B4, (1 mo. LIBOR US + 1.75%), 6.59%, 11/19/26 | 2,424 | 2,397,612 | ||||||||||
Caesars Entertainment, Inc., Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 3.25%), 8.16%, 02/06/30 | 1,247 | 1,239,032 | ||||||||||
Carnival Corp., USD Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 3.00%), 7.84%, 06/30/25 | 1,814 | 1,786,026 | ||||||||||
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1 mo. LIBOR US + 2.00%), 6.85%, 03/17/28 | 771 | 765,475 | ||||||||||
ECL Entertainment LLC, Term Loan, (1 mo. LIBOR US at 0.75% Floor + 7.50%), 12.42%, 05/01/28 | 571 | 565,484 | ||||||||||
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR US at 1.00% Floor + 3.00%), 8.16%, 03/08/24 | 3,862 | 3,489,075 | ||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (1 mo. SOFRTE at 0.50% Floor + 4.00%), 8.81%, 01/27/29 | 4,113 | 4,042,882 | ||||||||||
Flutter Financing B.V., 2022 USD Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 3.25%), 8.41%, 07/22/28 | 1,179 | 1,177,542 | ||||||||||
Four Seasons Hotels Ltd., 2022 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 3.25%), 8.16%, 11/30/29 | 3,058 | 3,054,079 | ||||||||||
IRB Holding Corp., 2022 Term Loan B, (1 mo. SOFRTE at 0.75% Floor + 3.00%), 7.91%, 12/15/27 | 2,403 | 2,358,850 | ||||||||||
Penn National Gaming, Inc., 2022 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.75%), 7.66%, 05/03/29 | 1,479 | 1,473,920 | ||||||||||
Playa Resorts Holding B.V., 2022 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 4.25%), 8.99%, 01/05/29 | 478 | 474,367 | ||||||||||
Playtika Holding Corp., 2021 Term Loan, (1 mo. LIBOR US + 2.75%), 7.59%, 03/13/28 | 1,496 | 1,483,984 | ||||||||||
Scientific Games International, Inc., 2022 USD Term Loan, (1 mo. SOFR CME at 0.50% Floor + 3.00%), 7.96%, 04/14/29 | 812 | 804,420 | ||||||||||
SeaWorld Parks & Entertainment, Inc., 2021 Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.00%), 7.88%, 08/25/28 | 688 | 684,812 |
SCHEDULE OF INVESTMENTS | 6 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||||||
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR US + 2.25%), 7.41%, 07/21/26 | USD | 1,107 | $ | 1,105,079 | ||||||||
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR US at 0.25% Floor + 2.25%), 7.10%, 02/08/27 | 2,044 | 2,024,581 | ||||||||||
Travelport Finance Luxembourg SARL, 2021 Consented Term Loan, (3 mo. LIBOR US + 6.75%), 10.16%, 05/29/26 | 1,440 | 813,319 | ||||||||||
Whatabrands LLC, 2021 Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 8.09%, 08/03/28 | 2,256 | 2,229,496 | ||||||||||
Wyndham Hotels & Resorts, Inc., Term Loan B, (1 mo. LIBOR US + 1.75%), 6.59%, 05/30/25 | 534 | 533,299 | ||||||||||
|
| |||||||||||
33,458,439 | ||||||||||||
Household Durables — 1.9% | ||||||||||||
ACProducts Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 4.25%), 9.41%, 05/17/28 | 1,640 | 1,297,603 | ||||||||||
Hunter Douglas, Inc., USD Term Loan B1, (3 mo. SOFR CME + 3.50%), 8.37%, 02/26/29 | 2,402 | 2,150,444 | ||||||||||
Reynolds Consumer Products LLC, Term Loan, (1 mo. SOFR CME + 1.75%), 6.66%, 02/04/27 | 1,487 | 1,474,064 | ||||||||||
Serta Simmons Bedding LLC | ||||||||||||
2020 Super Priority First Out Term Loan, (3 mo. LIBOR US + 7.50%), 12.37%, 08/10/23 | 464 | 454,017 | ||||||||||
2020 Super Priority Second Out Term Loan, (3 mo. LIBOR US at 1.00% Floor + 7.50%), 12.37%, 08/10/23 |
| 726 | 411,202 | |||||||||
Snap One Holdings Corp., Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 4.50%), 9.66%, 12/08/28(d) | 379 | 344,567 | ||||||||||
Sunset Debt Merger Sub, Inc., 2021 Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 4.00%), 8.75%, 10/06/28 | 823 | 689,686 | ||||||||||
Weber-Stephen Products LLC, Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 3.25%), 8.09%, 10/30/27 |
| 2,025 | 1,734,301 | |||||||||
|
| |||||||||||
8,555,884 | ||||||||||||
Household Products — 0.2% | ||||||||||||
Spectrum Brands, Inc., 2021 Term Loan, (3 mo. LIBOR US at 0.50% Floor + 2.00%), 6.96%, 03/03/28 | 831 | 822,714 | ||||||||||
|
| |||||||||||
Independent Power and Renewable Electricity Producers — 0.6% | ||||||||||||
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR US + 2.00%), 6.84%, 01/15/25 | 500 | 498,591 | ||||||||||
Calpine Corp. | ||||||||||||
2019 Term Loan B10, (1 mo. LIBOR US + 2.00%), 6.84%, 08/12/26 |
| 701 | 695,195 | |||||||||
Term Loan B9, (1 mo. LIBOR US + 2.00%), 6.85%, 04/05/26 | 1,499 | 1,488,270 | ||||||||||
|
| |||||||||||
2,682,056 | ||||||||||||
Industrial Conglomerates — 2.0% | ||||||||||||
AVSC Holding Corp. | ||||||||||||
2020 Term Loan B1, (3 mo. LIBOR US at 1.00% Floor + 3.50%), 8.31%, 03/03/25 | 1,003 | 962,831 | ||||||||||
2020 Term Loan B3, (3 mo. LIBOR US + 15.00%), 15.00%, 10/15/26 |
| 940 | 957,325 |
Security | Par (000) | Value | ||||||||||
Industrial Conglomerates (continued) | ||||||||||||
Diamond BC BV, 2021 Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 2.75%), 7.58%, 09/29/28 | USD | 1,727 | $ | 1,718,864 | ||||||||
Stitch Aquisition Corp., Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 6.75%), 11.91%, 07/28/28 | 1,084 | 845,130 | ||||||||||
Vertical U.S. Newco, Inc., Term Loan B, (6 mo. LIBOR US at 0.50% Floor + 3.50%), 8.60%, 07/30/27 | 2,265 | 2,209,075 | ||||||||||
Vertiv Group Corp., 2021 Term Loan B, (1 mo. LIBOR US + 2.75%), 7.42%, 03/02/27 | 2,423 | 2,375,417 | ||||||||||
|
| |||||||||||
9,068,642 | ||||||||||||
Insurance — 6.1% | ||||||||||||
Alliant Holdings Intermediate LLC | ||||||||||||
2021 Term Loan B4, (1 mo. LIBOR US at 0.50% Floor + 3.50%), 8.28%, 11/06/27 | 3,778 | 3,729,616 | ||||||||||
2023 Term Loan B5, (1 mo. SOFR CME at 0.50% Floor + 3.50%), 8.35%, 11/05/27 | 3,885 | 3,834,571 | ||||||||||
AmWINS Group, Inc. | ||||||||||||
2021 Term Loan B, (1 mo. LIBOR US at 0.75% Floor + 2.25%), 7.11%, 02/19/28 | 2,581 | 2,546,582 | ||||||||||
2023 Incremental Term Loan B, (1 mo. SOFR CME at 0.75% Floor + 2.75%), 7.66%, 02/19/28 | 496 | 492,659 | ||||||||||
AssuredPartners, Inc. | ||||||||||||
2020 Term Loan B, (1 mo. LIBOR US + 3.50%), 8.34%, 02/12/27 | 1,400 | 1,384,996 | ||||||||||
2021 Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.50%), 8.34%, 02/12/27 | 878 | 865,956 | ||||||||||
Hub International Ltd. | ||||||||||||
2018 Term Loan B, (3 mo. LIBOR US + 3.00%), 7.82%, 04/25/25 | 2,839 | 2,827,620 | ||||||||||
2021 Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 3.25%), 8.06%, 04/25/25 | 2,660 | 2,650,513 | ||||||||||
2022 Term Loan B, (3 mo. SOFR CME at 0.75% Floor + 4.00%), 8.73%, 11/10/29 | 466 | 463,913 | ||||||||||
NFP Corp., 2020 Term Loan, (1 mo. LIBOR US + 3.25%), 8.09%, 02/15/27 | 185 | 180,238 | ||||||||||
Ryan Specialty Group LLC, Term Loan, (1 mo. SOFR CME at 0.75% Floor + 3.00%), 7.91%, 09/01/27 | 1,356 | 1,350,881 | ||||||||||
Sedgwick Claims Management Services, Inc., 2023 Term Loan B, (1 mo. SOFR CME + 3.75%), 8.56%, 02/17/28 | 4,019 | 3,962,663 | ||||||||||
USI, Inc. | ||||||||||||
2019 Incremental Term Loan B, (3 mo. LIBOR US + 3.25%), 8.41%, 12/02/26 | 213 | 212,326 | ||||||||||
2022 Incremental Term Loan, (3 mo. SOFR CME at 0.50% Floor + 3.75%), 8.65%, 11/22/29 | 3,347 | 3,331,167 | ||||||||||
|
| |||||||||||
27,833,701 | ||||||||||||
Interactive Media & Services — 1.2% | ||||||||||||
Adevinta ASA, USD Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 2.75%), 7.91%, 06/26/28 | 1,728 | 1,712,421 | ||||||||||
Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1 mo. LIBOR US at 1.00% Floor + 3.00%), 7.84%, 10/30/26 | 2,221 | 2,214,822 | ||||||||||
Go Daddy Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR US + 2.00%), 6.84%, 08/10/27 | 731 | 727,273 | ||||||||||
Grab Holdings, Inc., Term Loan B, (1 mo. LIBOR US at 1.00% Floor + 4.50%), 9.35%, 01/29/26 | 1,059 | 1,052,358 | ||||||||||
|
| |||||||||||
5,706,874 |
7 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
IT Services — 5.4% | ||||||||||||
Aruba Investments Holdings LLC | ||||||||||||
2020 2nd Lien Term Loan, (1 mo. LIBOR US at 0.75% Floor + 7.75%), 12.59%, 11/24/28 | USD | 1,440 | $ | 1,288,800 | ||||||||
2020 USD Term Loan, (1 mo. LIBOR US at 0.75% Floor + 3.75%), 8.59%, 11/24/27 | 763 | 743,117 | ||||||||||
Boxer Parent Co., Inc., 2021 USD Term Loan, (1 mo. LIBOR US + 3.75%), 8.59%, 10/02/25 | 2,030 | 2,001,926 | ||||||||||
Camelot Finance SA, Term Loan B, (1 mo. LIBOR US + 3.00%), 7.84%, 10/30/26 | 1,851 | 1,845,203 | ||||||||||
CCC Intelligent Solutions, Inc., Term Loan, (1 mo. LIBOR US at 0.50% Floor + 2.25%), 7.09%, 09/21/28 | 1,679 | 1,662,315 | ||||||||||
CoreLogic, Inc. | ||||||||||||
2nd Lien Term Loan, (1 mo. LIBOR US at 0.50% Floor + 6.50%), 11.38%, 06/04/29 | 1,415 | 1,041,284 | ||||||||||
Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.50%), 8.38%, 06/02/28 | 3,365 | 2,861,481 | ||||||||||
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR US + 1.75%), 6.59%, 04/28/28 | 2,039 | 2,023,889 | ||||||||||
Genesys Cloud Services Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR US at 0.75% Floor + 4.00%), 8.84%, 12/01/27 | 3,275 | 3,221,238 | ||||||||||
PUG LLC, USD Term Loan, (1 mo. LIBOR US + 3.50%), 8.34%, 02/12/27 | 3,460 | 2,494,620 | ||||||||||
Trans Union LLC | ||||||||||||
2019 Term Loan B5, (1 mo. LIBOR US + 1.75%), 6.59%, 11/16/26 | 1,848 | 1,832,481 | ||||||||||
2021 Term Loan B6, (1 mo. LIBOR US at 0.50% Floor + 2.25%), 7.09%, 12/01/28 | 2,325 | 2,375,747 | ||||||||||
Venga Finance SARL, 2021 USD Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 4.75%), 9.70%, 06/28/29 | 648 | 616,761 | ||||||||||
WEX, Inc., 2021 Term Loan, (1 mo. LIBOR US + 2.25%), 7.09%, 03/31/28 | 970 | 962,322 | ||||||||||
|
| |||||||||||
24,971,184 | ||||||||||||
Leisure Products — 0.5% | ||||||||||||
Fender Musical Instruments Corp., 2021 Term Loan B, (1 mo. SOFRTE at 0.50% Floor + 4.00%), 8.84%, 12/01/28(d) | 974 | 883,412 | ||||||||||
Peloton Interactive, Inc., Term Loan, (3 mo. SOFR CME at 0.50% Floor + 6.50%), 11.76%, 05/25/27 | 343 | 341,403 | ||||||||||
Topgolf Callaway Brands Corp., Term Loan B, (3 mo. SOFR CME + 3.50%), 8.26%, 03/15/30 | 1,151 | 1,142,552 | ||||||||||
|
| |||||||||||
2,367,367 | ||||||||||||
Life Sciences Tools & Services — 2.7% | ||||||||||||
Avantor Funding, Inc., 2021 Term Loan B5, (1 mo. LIBOR US at 0.50% Floor + 2.25%), 7.09%, 11/08/27 | 1,769 | 1,765,221 | ||||||||||
Curia Global, Inc., 2021 Term Loan, (3 mo. SOFR CME at 0.75% Floor + 3.75%), 8.53%, 08/30/26 | 140 | 119,201 | ||||||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1 mo. LIBOR US at 1.00% Floor + 4.50%), 9.34%, 02/04/27 | 3,304 | 3,115,518 | ||||||||||
ICON Luxembourg SARL, LUX Term Loan, (3 mo. SOFR CME at 0.50% Floor + 2.25%), 7.41%, 07/03/28 | 2,384 | 2,376,030 | ||||||||||
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3 mo. SOFRTE at 0.50% Floor + 3.00%), 7.63%, 10/19/27 | 1,487 | 1,477,936 |
Security | Par (000) | Value | ||||||||||
Life Sciences Tools & Services (continued) | ||||||||||||
Parexel International Corp., 2021 1st Lien Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 8.09%, 11/15/28 | USD | 3,051 | $ | 3,021,429 | ||||||||
PRA Health Sciences, Inc., US Term Loan, (3 mo. LIBOR US at 0.50% Floor + 2.25%), 7.41%, 07/03/28 | 632 | 592,046 | ||||||||||
|
| |||||||||||
12,467,381 | ||||||||||||
Machinery — 3.7% | ||||||||||||
Albion Acquisitions Ltd., USD Term Loan, (3 mo. LIBOR US at 0.50% Floor + 5.25%), 10.07%, 08/17/26 | 1,831 | 1,778,967 | ||||||||||
Clark Equipment Co., 2022 Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 2.50%), 7.50%, 04/20/29 | 302 | 301,008 | ||||||||||
Columbus McKinnon Corp., 2021 Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 2.75%), 7.94%, 05/14/28 | 380 | 376,548 | ||||||||||
Filtration Group Corp., 2021 Incremental Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.50%), 8.34%, 10/21/28 | 1,170 | 1,151,165 | ||||||||||
Fluidra SA, 2022 USD Term Loan B, (1 mo. SOFR CME + 2.00%), 6.91%, 01/29/29 | 308 | 302,927 | ||||||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1 mo. SOFR CME + 1.75%), 6.66%, 03/01/27 | 2,218 | 2,208,696 | ||||||||||
Madison IAQ LLC, Term Loan, (6 mo. LIBOR US at 0.50% Floor + 3.25%), 8.30%, 06/21/28 | 3,701 | 3,516,119 | ||||||||||
Roper Industrial Products Investment Co., USD Term Loan, (3 mo. SOFR CME + 4.50%), 9.40%, 11/22/29 | 1,688 | 1,672,926 | ||||||||||
SPX Flow, Inc., 2022 Term Loan, (1 mo. SOFR CME at 0.50% Floor + 4.50%), 9.41%, 04/05/29 | 1,940 | 1,846,310 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (3 mo. LIBOR US + 3.00%), 8.15%, 03/28/25 | 3,864 | 3,653,282 | ||||||||||
Zurn LLC, 2021 Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 2.00%), 6.84%, 10/04/28 | 126 | 125,167 | ||||||||||
|
| |||||||||||
16,933,115 | ||||||||||||
Media — 10.0% | ||||||||||||
Altice Financing SA | ||||||||||||
2017 USD Term Loan B, (3 mo. LIBOR US + 2.75%), 7.58%, 07/15/25 | 1,081 | 1,060,840 | ||||||||||
USD 2017 1st Lien Term Loan, (3 mo. LIBOR US + 2.75%), 7.58%, 01/31/26 | 1,551 | 1,519,915 | ||||||||||
AMC Entertainment Holdings, Inc., 2019 Term Loan B, (1 mo. LIBOR US + 3.00%), 7.68%, 04/22/26 | 1,503 | 1,093,312 | ||||||||||
Cable One, Inc., 2021 Term Loan B4, (1 mo. LIBOR US + 2.00%), 6.84%, 05/03/28 | 1,028 | 999,433 | ||||||||||
Charter Communications Operating LLC, Class A, 2019 Term Loan B1, (1 mo. SOFR CME + 1.75%), 6.56%, 04/30/25 | 2,598 | 2,594,993 | ||||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR US + 3.50%), 8.33%, 08/21/26 | 3,817 | 3,546,428 | ||||||||||
CMG Media Corp., 2021 Term Loan, (3 mo. LIBOR US + 3.50%), 8.66%, 12/17/26 | — | (i) | 274 | |||||||||
Connect Finco SARL, 2021 Term Loan B, (1 mo. LIBOR US at 1.00% Floor + 3.50%), 8.35%, 12/11/26 | 6,640 | 6,593,334 | ||||||||||
CSC Holdings LLC | ||||||||||||
2017 Term Loan B1, (1 mo. LIBOR US + 2.25%), 6.93%, 07/17/25 | 1,181 | 1,124,310 |
SCHEDULE OF INVESTMENTS | 8 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Media (continued) | ||||||||||||
CSC Holdings LLC (continued) | ||||||||||||
2019 Term Loan B5, (1 mo. LIBOR US + 2.50%), 7.18%, 04/15/27 | USD | 1,565 | $ | 1,377,724 | ||||||||
E.W. Scripps Co., 2020 Term Loan B3, (1 mo. LIBOR US at 0.75% Floor + 2.75%), 7.67%, 01/07/28 | 549 | 523,421 | ||||||||||
Learfield Communications LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR US at 1.00% Floor + 3.25%), 8.10%, 12/01/23 | 870 | 607,221 | ||||||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR US + 2.25%), 7.09%, 03/24/25 | 1,311 | 1,287,293 | ||||||||||
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. SOFR CME + 1.75%), 6.61%, 10/17/26(d) | 2,524 | 2,492,581 | ||||||||||
MH Sub I LLC | ||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR US + 3.75%), 8.59%, 09/13/24 | 3,232 | 3,172,044 | ||||||||||
2021 2nd Lien Term Loan, (1 mo. SOFR CME + 6.25%), 11.06%, 02/23/29 | 2,021 | 1,845,956 | ||||||||||
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR US + 2.50%), 7.34%, 09/18/26 | 794 | 790,862 | ||||||||||
Sinclair Television Group, Inc., 2022 Term Loan B4, (1 mo. SOFR CME + 3.75%), 8.66%, 04/21/29(d) | 1,808 | 1,641,064 | ||||||||||
UFC Holdings LLC, 2021 Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 2.75%), 7.57%, 04/29/26 | 899 | 892,852 | ||||||||||
UPC Financing Partnership, 2021 USD Term Loan AX, (1 mo. LIBOR US + 2.925%), 7.61%, 01/31/29 | 768 | 750,594 | ||||||||||
Virgin Media Bristol LLC | ||||||||||||
2020 USD Term Loan Q, (1 mo. LIBOR US + 3.25%), 7.93%, 01/31/29 | 1,335 | 1,318,486 | ||||||||||
USD Term Loan N, (1 mo. LIBOR US + 2.50%), 7.18%, 01/31/28 | 988 | 970,427 | ||||||||||
Voyage Digital Ltd., USD Term Loan B, (3 mo. SOFRTE at 0.50% Floor + 4.25%), 9.05%, 05/11/29(d) | 1,010 | 995,210 | ||||||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR US + 2.75%), 7.60%, 05/18/25 | 2,718 | 2,691,616 | ||||||||||
WMG Acquisition Corp., 2021 Term Loan G, (1 mo. LIBOR US + 2.125%), 6.97%, 01/20/28 | 2,123 | 2,096,324 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR US + 3.00%), 7.84%, 03/09/27 | 5,045 | 4,084,700 | ||||||||||
|
| |||||||||||
46,071,214 | ||||||||||||
Oil, Gas & Consumable Fuels — 0.7% | ||||||||||||
Lealand Finance Co. BV | ||||||||||||
2020 Make Whole Term Loan, (1 mo. LIBOR US + 3.00%), 7.84%, 06/28/24 | 40 | 27,164 | ||||||||||
2020 Take Back Term Loan, (1 mo. LIBOR US + 1.00%), 5.84%, 06/30/25 | 303 | 199,530 | ||||||||||
M6 ETX Holdings II Midco LLC, Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 4.50%), 9.36%, 09/19/29 | 266 | 262,892 |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
Medallion Midland Acquisition LLC, 2021 Term Loan, (3 mo. SOFR CME at 0.75% Floor + 3.75%), 8.91%, 10/18/28 | USD | 1,920 | $ | 1,890,768 | ||||||||
Murphy USA, Inc., Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 1.75%), 6.43%, 01/31/28 | 638 | 638,044 | ||||||||||
|
| |||||||||||
3,018,398 | ||||||||||||
Passenger Airlines — 2.8% | ||||||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR US at 0.75% Floor + 4.75%), 9.56%, 04/20/28 | 1,636 | 1,658,678 | ||||||||||
Air Canada, 2021 Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 3.50%), 8.37%, 08/11/28 | 2,032 | 2,023,893 | ||||||||||
American Airlines, Inc. | ||||||||||||
2017 1st Lien Term Loan, (6 mo. LIBOR US + 3.50%), 8.26%, 01/29/27 | 272 | 266,268 | ||||||||||
2023 Term Loan B, (6 mo. SOFR CME + 2.75%), 8.15%, 02/15/28 | 2,415 | 2,356,509 | ||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR US at 1.00% Floor + 5.25%), 10.21%, 06/21/27 | 2,936 | 3,043,378 | ||||||||||
United Airlines, Inc., 2021 Term Loan B, (3 mo. LIBOR US at 0.75% Floor + 3.75%), 8.57%, 04/21/28 | 3,679 | 3,646,730 | ||||||||||
|
| |||||||||||
12,995,456 | ||||||||||||
Personal Care Products — 1.4% | ||||||||||||
Kronos Acquisition Holdings, Inc., 2021 1st Lien Term Loan, (3 mo. SOFRTE at 1.00% Floor + 6.00%), 11.02%, 12/22/26 | 406 | 392,649 | ||||||||||
Prestige Brands, Inc., 2021 Term Loan B5, (1 mo. LIBOR US at 0.50% Floor + 2.00%), 6.84%, 07/03/28 | 168 | 166,984 | ||||||||||
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3 mo. LIBOR US at 0.75% Floor + 3.75%), 8.91%, 10/01/26 | 6,044 | 5,980,021 | ||||||||||
|
| |||||||||||
6,539,654 | ||||||||||||
Pharmaceuticals — 2.5% | ||||||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR US + 3.50%), 8.38%, 05/04/25 | 1,210 | 1,147,712 | ||||||||||
Amynta Agency Borrower, Inc., 2023 Term Loan B, (3 mo. SOFR CME + 5.00%), 9.99%, 02/28/28 | 855 | 818,449 | ||||||||||
Bausch Health Cos., Inc., 2022 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 5.25%), 10.09%, 02/01/27 | 1,123 | 831,410 | ||||||||||
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1 mo. LIBOR US at 0.50% Floor + 2.00%), 6.81%, 02/22/28 | 1,588 | 1,571,771 | ||||||||||
Elanco Animal Health, Inc., Term Loan B, (1 mo. LIBOR US + 1.75%), 6.41%, 08/01/27 | 1,466 | 1,431,826 | ||||||||||
Jazz Financing Lux SARL, USD Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.50%), 8.34%, 05/05/28 | 2,181 | 2,170,567 | ||||||||||
Option Care Health, Inc., 2021 Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 2.75%), 7.59%, 10/27/28 | 699 | 695,485 |
9 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Pharmaceuticals (continued) | ||||||||||||
Organon & Co., USD Term Loan, (3 mo. LIBOR US at 0.50% Floor + 3.00%), 8.00%, 06/02/28 | USD | 1,404 | $ | 1,401,962 | ||||||||
Precision Medicine Group LLC, 2021 Term Loan, (3 mo. LIBOR US at 0.75% Floor + 3.00%), 8.16%, 11/18/27(d) | 1,451 | 1,394,569 | ||||||||||
|
| |||||||||||
11,463,751 | ||||||||||||
Professional Services — 1.5% | ||||||||||||
Dun & Bradstreet Corp. | ||||||||||||
2022 Incremental Term Loan B2, (1 mo. SOFR CME + 3.25%), 8.04%, 01/18/29 | 710 | 704,151 | ||||||||||
Term Loan, (1 mo. LIBOR US + 3.25%), 8.10%, 02/06/26 | 2,327 | 2,319,926 | ||||||||||
Element Materials Technology Group U.S. Holdings, Inc. | ||||||||||||
2022 USD Delayed Draw Term Loan, (3 mo. SOFR CME at 0.50% Floor + 4.25%), 9.25%, 07/06/29 | 606 | 598,244 | ||||||||||
2022 USD Term Loan, (3 mo. SOFR CME at 0.50% Floor + 4.25%), 9.25%, 07/06/29 | 1,314 | 1,296,196 | ||||||||||
Galaxy U.S. Opco, Inc., Term Loan, (1 mo. SOFR CME at 0.50% Floor + 4.75%), 9.56%, 04/29/29 | 2,006 | 1,770,225 | ||||||||||
|
| |||||||||||
6,688,742 | ||||||||||||
Real Estate Management & Development — 1.0% | ||||||||||||
Chariot Buyer LLC, Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 8.09%, 11/03/28 | 2,451 | 2,351,098 | ||||||||||
Cushman & Wakefield U.S. Borrower LLC | ||||||||||||
2020 Term Loan B, (1 mo. LIBOR US + 2.75%), 7.59%, 08/21/25 | 884 | 860,720 | ||||||||||
2023 Term Loan, (1 mo. SOFR CME at 0.50% Floor + 3.25%), 8.16%, 01/31/30(d) | 1,248 | 1,200,932 | ||||||||||
|
| |||||||||||
4,412,750 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.4% | ||||||||||||
MKS Instruments, Inc., 2022 USD Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.75%), 7.61%, 08/17/29 | 1,154 | 1,146,502 | ||||||||||
Synaptics, Inc., Term Loan B, (6 mo. LIBOR US at 0.50% Floor + 2.25%), 7.40%, 12/02/28 | 625 | 617,077 | ||||||||||
|
| |||||||||||
1,763,579 | ||||||||||||
Software — 12.5% | ||||||||||||
Applied Systems, Inc., 2022 Extended 1st Lien Term Loan, (3 mo. SOFR CME at 0.50% Floor + 4.50%), 9.40%, 09/18/26 | 734 | 731,435 | ||||||||||
Barracuda Networks, Inc., 2022 Term Loan, (3 mo. SOFR CME at 0.50% Floor + 4.50%), 9.18%, 08/15/29 | 764 | 734,240 | ||||||||||
Central Parent, Inc., 2022 USD Term Loan B, (3 mo. SOFR CME at 0.50% Floor + 4.25%), 9.15%, 07/06/29 | 1,380 | 1,375,063 | ||||||||||
Cloudera, Inc. | ||||||||||||
2021 Second Lien Term Loan, (1 mo. SOFR CME at 0.50% Floor + 6.00%), 10.91%, 10/08/29 | 780 | 687,703 | ||||||||||
2021 Term Loan, (1 mo. SOFR CME at 0.50% Floor + 3.75%), 8.66%, 10/08/28(d) | 864 | 822,702 | ||||||||||
Cornerstone OnDemand, Inc., 2021 Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.75%), 8.59%, 10/16/28 | 1,193 | 1,097,514 | ||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1 mo. LIBOR US + 3.25%), 8.08%, 05/28/24 | 821 | 737,935 |
Security | Par (000) | Value | ||||||||||
Software (continued) | ||||||||||||
E2open LLC, 2020 Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.50%), 8.20%, 02/04/28 | USD | 284 | $ | 280,570 | ||||||||
Epicor Software Corp., 2020 2nd Lien Term Loan, (1 mo. LIBOR US at 1.00% Floor + 7.75%), 12.59%, 07/31/28 | 2,141 | 2,112,011 | ||||||||||
Informatica LLC, 2021 USD Term Loan B, (1 mo. LIBOR US + 2.75%), 7.63%, 10/27/28 | 3,061 | 3,033,328 | ||||||||||
Instructure Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 2.75%), 7.85%, 10/30/28(d) | 728 | 722,193 | ||||||||||
IPS Corp. | ||||||||||||
2021 2nd Lien Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 7.00%), 11.84%, 10/01/29(d) | 1,046 | 836,800 | ||||||||||
2021 Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.50%), 8.41%, 10/02/28 | 595 | 556,027 | ||||||||||
Magenta Buyer LLC | ||||||||||||
2021 USD 1st Lien Term Loan, (3 mo. LIBOR US at 0.75% Floor + 4.75%), 9.58%, 07/27/28 | 2,414 | 1,982,186 | ||||||||||
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR US at 0.75% Floor + 8.25%), 13.08%, 07/27/29 | 2,204 | 1,630,742 | ||||||||||
McAfee Corp., 2022 USD Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 3.75%), 8.52%, 03/01/29 | 3,467 | 3,250,127 | ||||||||||
NortonLifeLock, Inc., 2022 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 2.00%), 6.91%, 09/12/29 | 1,497 | 1,480,056 | ||||||||||
Planview Parent, Inc., 2nd Lien Term Loan, (3 mo. LIBOR US at 0.75% Floor + 7.25%), 12.41%, 12/18/28 | 930 | 819,953 | ||||||||||
Proofpoint, Inc. | ||||||||||||
1st Lien Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 8.09%, 08/31/28 | 2,796 | 2,728,118 | ||||||||||
2nd Lien Term Loan, (3 mo. LIBOR US at 0.50% Floor + 6.25%), 11.09%, 08/31/29 | 1,451 | 1,365,144 | ||||||||||
RealPage, Inc. | ||||||||||||
1st Lien Term Loan, (1 mo. LIBOR US at 0.50% Floor + 3.00%), 7.84%, 04/24/28 | 6,208 | 6,011,573 | ||||||||||
2nd Lien Term Loan, (1 mo. LIBOR US at 0.75% Floor + 6.50%), 11.34%, 04/23/29 | 2,965 | 2,790,950 | ||||||||||
Renaissance Holding Corp., 2023 Refi Term Loan, (1 mo. LIBOR US + 3.25%), 8.09%, 04/05/30 | 671 | 652,079 | ||||||||||
Severin Acquisition LLC, 2018 Term Loan B, (3 mo. SOFR CME + 3.00%), 7.68%, 08/01/25 | 2,208 | 2,203,388 | ||||||||||
Sophia LP | ||||||||||||
2020 2nd Lien Term Loan, (3 mo. LIBOR US at 1.00% Floor + 8.00%), 13.16%, 10/09/28 | 4,215 | 4,178,119 | ||||||||||
2021 Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 3.50%), 8.66%, 10/07/27 | 2,298 | 2,267,816 | ||||||||||
Tempo Acquisition LLC, 2022 Term Loan B, (1 mo. SOFR CME + 3.00%), 7.81%, 08/31/28 | 4,791 | 4,781,527 | ||||||||||
TIBCO Software, Inc., 2022 USD Term Loan, (3 mo. SOFR CME at 0.50% Floor + 4.50%), 9.50%, 03/30/29 | 4,541 | 4,117,189 | ||||||||||
UKG, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR US at 0.50% Floor + 5.25%), 10.03%, 05/03/27 | 1,402 | 1,339,645 | ||||||||||
Ultimate Software Group, Inc., Term Loan B, (3 mo. LIBOR US + 3.75%), 8.58%, 05/04/26 | 1,938 | 1,903,770 | ||||||||||
ZoomInfo LLC, 2023 Term Loan B, (1 mo. SOFR CME + 2.75%), 7.66%, 02/28/30 | 217 | 216,911 | ||||||||||
|
| |||||||||||
57,446,814 |
SCHEDULE OF INVESTMENTS | 10 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Specialty Retail — 4.6% | ||||||||||||
Belron Finance U.S. LLC | ||||||||||||
2018 Term Loan B, (3 mo. LIBOR US + 2.25%), 7.13%, 11/13/25 | USD | 434 | $ | 433,205 | ||||||||
2019 USD Term Loan B3, (3 mo. LIBOR US + 2.25%), 7.06%, 10/30/26(d) | 864 | 861,818 | ||||||||||
2021 USD Term Loan B, (3 mo. LIBOR US at 0.50% Floor + 2.425%), 7.30%, 04/13/28 | 2,990 | 2,979,428 | ||||||||||
CD&R Firefly Bidco Ltd., 2018 GBP Term Loan B1, (1 day SONIA + 4.25%), 7.78%, 06/23/25 | GBP | 1,000 | 1,186,315 | |||||||||
EG Group Ltd., 2021 Term Loan, (1 mo. LIBOR US at 0.50% Floor + 4.25%), 9.09%, 03/31/26 | USD | 566 | 540,205 | |||||||||
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (1 mo. LIBOR US at 0.50% Floor + 3.25%), 8.09%, 11/24/28 | 1,609 | 1,599,805 | ||||||||||
Mavis Tire Express Services Corp., 2021 Term Loan B, (1 mo. SOFR CME at 0.75% Floor + 4.00%), 8.92%, 05/04/28 | 2,987 | 2,922,853 | ||||||||||
MED ParentCo LP, 1st Lien Term Loan, (1 mo. LIBOR US + 4.25%), 9.09%, 08/31/26 | 1,338 | 1,169,808 | ||||||||||
Midas Intermediate Holdco II LLC, 2022 PIK Term Loan, (1 mo. SOFR CME at 0.75% Floor + 8.35%, 1.50% PIK), 13.11%, 06/30/27(g) | 1,722 | 1,397,616 | ||||||||||
PetSmart, Inc., 2021 Term Loan B, (1 mo. SOFR CME at 0.75% Floor + 3.75%), 8.66%, 02/11/28 | 3,673 | 3,642,263 | ||||||||||
Pilot Travel Centers LLC, 2021 Term Loan B, (1 mo. SOFR CME + 2.00%), 6.91%, 08/04/28 | 1,139 | 1,134,452 | ||||||||||
Restoration Hardware, Inc., 2022 Incremental Term Loan, (1 mo. SOFR CME at 0.50% Floor + 3.25%), 8.16%, 10/20/28 | 863 | 810,493 | ||||||||||
Reverb Buyer, Inc., 2021 1st Lien Term Loan, (3 mo. SOFR CME at 0.50% Floor + 3.25%), 8.24%, 11/01/28 | 1,105 | 1,071,985 | ||||||||||
Sally Holdings LLC, 2023 Term Loan B, (3 mo. SOFR CME + 2.50%), 7.31%, 02/28/30(d) | 634 | 631,623 | ||||||||||
Woof Holdings, Inc., 1st Lien Term Loan, (1 mo. LIBOR US at 0.75% Floor + 3.75%), 8.53%, 12/21/27(d) | 544 | 519,425 | ||||||||||
|
| |||||||||||
20,901,294 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.1% | ||||||||||||
Electronics for Imaging, Inc., Term Loan, (1 mo. LIBOR US + 5.00%), 10.21%, 07/23/26 | 800 | 626,185 | ||||||||||
|
| |||||||||||
Textiles, Apparel & Luxury Goods — 0.4% | ||||||||||||
Crocs, Inc., Term Loan B, (1 mo. SOFRTE at 0.50% Floor + 3.50%), 8.41%, 02/20/29 | 1,169 | 1,163,508 | ||||||||||
Hanesbrands, Inc., 2023 Term Loan B, (1 mo. SOFR CME at 0.50% Floor + 3.75%), 8.56%, 03/08/30(d) | 521 | 518,395 | ||||||||||
|
| |||||||||||
1,681,903 | ||||||||||||
Trading Companies & Distributors — 1.2% | ||||||||||||
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1 mo. LIBOR US + 2.25%), 7.09%, 05/19/28 | 1,371 | 1,361,635 | ||||||||||
ION Trading Finance Ltd., 2021 USD Term Loan, (3 mo. LIBOR US + 4.75%), 9.91%, 04/03/28 | 672 | 631,291 |
Security | Par (000) | Value | ||||||||||
Trading Companies & Distributors (continued) | ||||||||||||
SRS Distribution, Inc., 2022 Incremental Term Loan, (1 mo. SOFR CME + 3.25%), 8.16%, 06/02/28 | USD | 987 | $ | 943,905 | ||||||||
TMK Hawk Parent Corp. | ||||||||||||
2020 Super Priority First Out Term Loan A, (3 mo. LIBOR US at 1.00% Floor + 9.50%), 14.46%, 05/30/24(d) | 960 | 931,230 | ||||||||||
2020 Super Priority Second Out Term Loan B, (3 mo. LIBOR US at 1.00% Floor + 3.50%), 8.46%, 08/28/24 | 3,042 | 1,703,238 | ||||||||||
|
| |||||||||||
5,571,299 | ||||||||||||
Transportation Infrastructure — 0.0% | ||||||||||||
KKR Apple Bidco LLC, 2021 2nd Lien Term Loan, (1 mo. LIBOR US at 0.50% Floor + 5.75%), 10.59%, 09/21/29 | 248 | 242,358 | ||||||||||
|
| |||||||||||
Wireless Telecommunication Services — 1.0% | ||||||||||||
GOGO Intermediate Holdings LLC, Term Loan B, (3 mo. SOFR CME at 0.75% Floor + 3.75%), 8.70%, 04/30/28 | 1,091 | 1,081,273 | ||||||||||
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR US + 1.75%), 6.60%, 04/11/25 | 3,334 | 3,329,402 | ||||||||||
|
| |||||||||||
4,410,675 | ||||||||||||
|
| |||||||||||
Total Floating Rate Loan Interests — 126.2% |
| 578,976,232 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Investment Companies | ||||||||||||
Financial Services — 1.4% | ||||||||||||
Invesco Senior Loan ETF | 64,300 | 1,337,440 | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(j) | 70,000 | 5,288,500 | ||||||||||
|
| |||||||||||
6,625,940 | ||||||||||||
|
| |||||||||||
Total Investment Companies — 1.4% |
| 6,625,940 | ||||||||||
|
| |||||||||||
Benefical Interest (000) | ||||||||||||
Other Interests | ||||||||||||
Capital Markets — 0.0% | ||||||||||||
Millennium Lender Claim Trust(d)(k) | USD | 1,607 | — | |||||||||
|
| |||||||||||
Industrial Conglomerates — 0.0% | ||||||||||||
Millennium Corp. Claim(d)(k) | 1,508 | — | ||||||||||
|
| |||||||||||
Total Other Interests — 0.0% |
| — | ||||||||||
|
|
11 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
| ||||||||
Warrants | ||||||||
Consumer Discretionary — 0.0% | ||||||||
Service King (Carnelian Point), (Expires 06/30/27, Strike Price USD 10.00)(c) | 1,895 | $ | — | |||||
|
| |||||||
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)(c) | 999 | 8,492 | ||||||
|
| |||||||
Total Warrants — 0.0% | 8,492 | |||||||
|
| |||||||
Total Investments — 130.6% | 599,150,076 | |||||||
Liabilities in Excess of Other Assets — (30.6)% |
| (140,321,345 | ) | |||||
|
| |||||||
Net Assets — 100.0% | $ | 458,828,731 | ||||||
|
|
(a) | 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. |
(b) | 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. |
(c) | Non-income producing security. |
(d) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(e) | Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $0, representing less than 0.05% of its net assets as of period end, and an original cost of $0. |
(f) | Issuer filed for bankruptcy and/or is in default. |
(g) | 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. |
(h) | 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. |
(i) | Rounds to less than 1,000. |
(j) | Affiliate of the Fund. |
(k) | Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
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 March 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| ||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 12/31/22 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/23 | Shares Held at 03/31/23 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class(a) | $ | — | $ | 7,777,897 | $ | (7,777,897 | ) | $ | — | $ | — | $ | — | — | $ | 2,554 | $ | — | ||||||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | 736,300 | 7,972,560 | (3,380,993 | ) | (37,207 | ) | (2,160 | ) | 5,288,500 | 70,000 | 58,485 | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | (37,207 | ) | $ | (2,160 | ) | $ | 5,288,500 | $ | 61,039 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | As of period end, the entity is no longer held. |
Derivative Financial Instruments Outstanding as of Period End
Forward Foreign Currency Exchange Contracts
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||
USD | 88,488 | EUR | 81,670 | Morgan Stanley & Co. International PLC | 06/21/23 | $ | (472 | ) | ||||||||||||||||||
USD | 743,190 | EUR | 689,000 | UBS AG | 06/21/23 | (7,312 | ) | |||||||||||||||||||
USD | 306,657 | GBP | 250,010 | Bank of America N.A. | 06/21/23 | (2,227 | ) | |||||||||||||||||||
USD | 2,022,607 | GBP | 1,684,000 | BNP Paribas SA | 06/21/23 | (57,952 | ) | |||||||||||||||||||
|
| |||||||||||||||||||||||||
$ | (67,963 | ) | ||||||||||||||||||||||||
|
|
SCHEDULE OF INVESTMENTS | 12 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) |
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.39.V1 | 5.00 | % | Quarterly | 12/20/27 | B+ | USD | 4,525 | $ | 62,201 | $ | (67,078 | ) | $ | 129,279 | ||||||||||||||||||
|
|
|
|
|
|
(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 | $ | — | $ | 3,998,260 | $ | — | $ | 3,998,260 | ||||||||
Common Stocks | ||||||||||||||||
Construction & Engineering | — | 42,137 | — | 42,137 | ||||||||||||
Electrical Equipment | 25,743 | — | — | 25,743 | ||||||||||||
Energy Equipment & Services | — | — | 1,464 | 1,464 | ||||||||||||
Oil, Gas & Consumable Fuels | — | — | 3,098 | 3,098 | ||||||||||||
Semiconductors & Semiconductor Equipment | 6,157 | — | — | 6,157 | ||||||||||||
Software | — | — | — | — | ||||||||||||
Specialty Retail | — | 457,648 | — | 457,648 | ||||||||||||
Corporate Bonds | — | 9,004,905 | — | 9,004,905 | ||||||||||||
Floating Rate Loan Interests | — | 548,397,497 | 30,578,735 | 578,976,232 | ||||||||||||
Investment Companies | 6,625,940 | — | — | 6,625,940 | ||||||||||||
Other Interests | — | — | — | — | ||||||||||||
Warrants | 8,492 | — | — | 8,492 | ||||||||||||
Liabilities | ||||||||||||||||
Unfunded Floating Rate Loan Interests(a) | — | (30,802 | ) | — | (30,802 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 6,666,332 | $ | 561,869,645 | $ | 30,583,297 | $ | 599,119,274 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(b) | ||||||||||||||||
Assets | ||||||||||||||||
Credit Contracts | $ | — | $ | 129,279 | $ | — | $ | 129,279 |
13 |
Schedule of Investments (unaudited) (continued) March 31, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Liabilities | ||||||||||||||||
Foreign Currency Exchange Contracts | $ | — | $ | (67,963 | ) | $ | — | $ | (67,963 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
$ | — | $ | 61,316 | $ | — | $ | 61,316 | |||||||||
|
|
|
|
|
|
|
|
(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. |
A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments and derivative financial instruments 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 | Total | ||||||||||||||||
| ||||||||||||||||||||
Assets | ||||||||||||||||||||
Opening balance, as of December 31, 2022 | $ | 4,440 | $ | — | (a) | $ | 12,129,451 | $ | — | (a) | $ | 12,133,891 | ||||||||
Transfers into Level 3(b) | — | — | 15,113,703 | — | 15,113,703 | |||||||||||||||
Transfers out of Level 3(c) | — | — | (2,645,781 | ) | — | (2,645,781 | ) | |||||||||||||
Accrued discounts/premiums | — | — | 12,335 | — | 12,335 | |||||||||||||||
Net realized gain (loss) | — | — | (35,425 | ) | — | (35,425 | ) | |||||||||||||
Net change in unrealized appreciation (depreciation)(d) | 122 | — | 228,531 | — | 228,653 | |||||||||||||||
Purchases | — | — | 6,569,861 | — | 6,569,861 | |||||||||||||||
Sales | — | — | (793,940 | ) | — | (793,940 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Closing balance, as of March 31, 2023 | $ | 4,562 | $ | — | (a) | $ | 30,578,735 | $ | — | (a) | $ | 30,583,297 | ||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2023(d) | $ | 122 | $ | — | $ | 228,531 | $ | — | $ | 228,653 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Rounds to less than $1. |
(b) | As of December 31, 2022, the Fund used observable inputs in determining the value of certain investments. As of March 31, 2023, 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, 2022, the Fund used significant unobservable inputs in determining the value of certain investments. As of March 31, 2023, 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 March 31, 2023 is generally due to investments no longer held or categorized as Level 3 at period end. |
The Fund’s financial instruments that are categorized as Level 3 were valued utilizing third-party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third-party information could result in a significantly lower or higher value of such Level 3 financial instruments.
Currency Abbreviation | ||
EUR | Euro | |
GBP | British Pound | |
USD | United States Dollar |
Portfolio Abbreviation (continued) | ||
SOFR CME | Secured Overnight Financing Rate Chicago Mercantile Exchange | |
SOFRTE | Term Secured Overnight Financing Rate | |
SONIA | Sterling Overnight Interbank Average Rate |
Portfolio Abbreviation | ||
CLO | Collateralized Loan Obligation | |
DAC | Designated Activity Company | |
ETF | Exchange-Traded Fund | |
EURIBOR | Euro Interbank Offered Rate | |
LIBOR | London Interbank Offered Rate | |
PIK | Payment-in-Kind | |
SCA | Societe en Commandite par Actions | |
SOFR | Secured Overnight Financing Rate |
SCHEDULE OF INVESTMENTS | 14 |