Schedule of Investments (unaudited) March 31, 2024 | 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 Ltd., Series 2023-66B, Class D, (3-mo. CME Term SOFR + 5.50%), 10.82%, 04/25/36(a)(b) | USD 1,000 | $ | 1,013,943 | |||||||||
Palmer Square CLO Ltd., Series 2023-2A, Class D, (3-mo. CME Term SOFR + 5.00%), 10.32%, 04/20/36(a)(b) | 1,000 | 1,016,641 | ||||||||||
Pikes Peak CLO Ltd., Series 2023-14, Class D, (3-mo. CME Term SOFR + 5.45%), 10.77%, 04/20/36(a)(b) | 1,000 | 1,013,776 | ||||||||||
Symphony CLO Ltd.(a)(b) | ||||||||||||
Series 2023-38, Class D, (3-mo. CME Term SOFR + 5.20%), 10.52%, 04/24/36 | 1,000 | 1,019,325 | ||||||||||
Series 2023-40A, Class D, (3-mo. CME Term SOFR + 5.00%), 10.34%, 01/14/34 | 1,000 | 1,013,505 | ||||||||||
Whitebox CLO IV Ltd., Series 2023-4A, Class D, (3-mo. CME Term SOFR + 5.15%), 10.47%, 04/20/36(a)(b) | 1,000 | 1,022,331 | ||||||||||
|
| |||||||||||
Total Asset-Backed Securities — 1.3% |
| 6,099,521 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Common Stocks | ||||||||||||
Construction & Engineering — 0.0% | ||||||||||||
McDermott International Ltd.(c) | 123,933 | 24,787 | ||||||||||
|
| |||||||||||
Electrical Equipment — 0.0% | ||||||||||||
SunPower Corp.(c) | 1,860 | 5,580 | ||||||||||
|
| |||||||||||
Energy Equipment & Services — 0.0% |
| |||||||||||
Project Investor Holdings LLC, (Acquired 02/12/19, Cost: $0)(c)(d)(e) | 6,099 | — | ||||||||||
|
| |||||||||||
Entertainment — 0.1% | ||||||||||||
Learfield Communications LLC, (Acquired 09/06/23, Cost: $85,471)(c)(d)(e) |
| 6,803 | 319,741 | |||||||||
|
| |||||||||||
Financial Services(c) — 0.3% | ||||||||||||
NMG Parent LLC | 3,613 | 334,202 | ||||||||||
Travelport Finance Luxembourg SARL(d) | 267 | 854,969 | ||||||||||
|
| |||||||||||
1,189,171 | ||||||||||||
Health Care Providers & Services — 0.0% |
| |||||||||||
Envision Healthcare Corp., (Acquired 11/03/23, |
| 23,736 | 201,756 | |||||||||
|
| |||||||||||
Oil, Gas & Consumable Fuels — 0.0% |
| |||||||||||
Kcad Holdings I Ltd.(c)(d) | 309,827,230 | 3,098 | ||||||||||
|
| |||||||||||
Semiconductors & Semiconductor Equipment — 0.0% |
| |||||||||||
Maxeon Solar Technologies Ltd.(c) | 232 | 773 | ||||||||||
|
| |||||||||||
Trading Companies & Distributors — 0.0% |
| |||||||||||
TMK Hawk Parent Corp.(c)(d) | 23,534 | 194,159 | ||||||||||
|
| |||||||||||
Total Common Stocks — 0.4% | 1,939,065 | |||||||||||
|
|
Security | Par (000) | Value | ||||||||||
Corporate Bonds | ||||||||||||
Aerospace & Defense — 0.0% | ||||||||||||
Wesco Aircraft Holdings, Inc., 9.00%, 11/15/26(b)(c)(f) | USD | 1,013 | $ | 253,250 | ||||||||
|
| |||||||||||
Automobile Components — 0.1% | ||||||||||||
Clarios Global LP, 6.75%, 05/15/25(b) | 446 | 446,397 | ||||||||||
|
| |||||||||||
Chemicals(b) — 0.1% | ||||||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28 | 51 | 50,311 | ||||||||||
WR Grace Holdings LLC, 5.63%, 08/15/29 | 388 | 347,217 | ||||||||||
|
| |||||||||||
397,528 | ||||||||||||
Commercial Services & Supplies(b) — 0.1% | ||||||||||||
Champions Financing, Inc., 8.75%, 02/15/29 | 208 | 217,910 | ||||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 01/15/28 | 207 | 202,773 | ||||||||||
|
| |||||||||||
420,683 | ||||||||||||
Construction & Engineering — 0.1% | ||||||||||||
Brand Industrial Services, Inc., 10.38%, 08/01/30(b) | 249 | 269,583 | ||||||||||
|
| |||||||||||
Construction Materials — 0.0% | ||||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(b) | 118 | 114,984 | ||||||||||
|
| |||||||||||
Diversified REITs — 0.0% | ||||||||||||
VICI Properties LP/VICI Note Co., Inc., 4.63%, 06/15/25(b) | 138 | 135,884 | ||||||||||
|
| |||||||||||
Diversified Telecommunication Services(b) — 0.2% |
| |||||||||||
Level 3 Financing, Inc., 11.00%, 11/15/29 | 524 | 545,301 | ||||||||||
Zayo Group Holdings, Inc., 6.13%, 03/01/28 | 251 | 175,642 | ||||||||||
|
| |||||||||||
720,943 | ||||||||||||
Electric Utilities — 0.0% | ||||||||||||
Texas Competitive Electric Holdings, Series M, 5.03%, 10/10/19(a)(c)(d)(f) | 1,710 | — | ||||||||||
|
| |||||||||||
Entertainment — 0.1% | ||||||||||||
Odeon Finco PLC, 12.75%, 11/01/27(b) | 607 | 615,821 | ||||||||||
|
| |||||||||||
Ground Transportation — 0.1% | ||||||||||||
Uber Technologies, Inc., 4.50%, 08/15/29(b) | 381 | 361,499 | ||||||||||
|
| |||||||||||
Health Care Equipment & Supplies — 0.1% | ||||||||||||
Medline Borrower LP, 5.25%, 10/01/29(b) | 384 | 362,945 | ||||||||||
|
| |||||||||||
Hotels, Restaurants & Leisure(b) — 0.2% | ||||||||||||
Caesars Entertainment, Inc., 4.63%, 10/15/29 | 390 | 355,630 | ||||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 6.75%, 01/15/30 | 441 | 395,979 | ||||||||||
|
| |||||||||||
751,609 | ||||||||||||
Insurance — 0.1% | ||||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27(b) | 357 | 351,725 | ||||||||||
|
| |||||||||||
Internet Software & Services — 0.1% | ||||||||||||
Expedia Group, Inc., 6.25%, 05/01/25(b) | 337 | 338,474 | ||||||||||
|
| |||||||||||
IT Services — 0.0% | ||||||||||||
Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc., 8.00%, 06/15/29(b) | 191 | 197,997 | ||||||||||
|
|
SCHEDULE OF INVESTMENTS | 1 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Machinery(b) — 0.2% | ||||||||||||
Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC, 9.00%, 02/15/29 | USD | 336 | $ | 347,464 | ||||||||
Vertiv Group Corp., 4.13%, 11/15/28 | 901 | 838,328 | ||||||||||
|
| |||||||||||
1,185,792 | ||||||||||||
Media — 0.1% | ||||||||||||
Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 09/15/26(b) | 573 | 455,623 | ||||||||||
|
| |||||||||||
Real Estate Management & Development — 0.0% | ||||||||||||
Realogy Group LLC/Realogy Co.-Issuer Corp., 5.75%, 01/15/29(b) | 46 | 32,574 | ||||||||||
|
| |||||||||||
Specialty Retail — 0.1% | ||||||||||||
eG Global Finance PLC, 12.00%, 11/30/28(b) | 465 | 494,266 | ||||||||||
|
| |||||||||||
Wireless Telecommunication Services — 0.0% | ||||||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(b)(c)(f)(g) | 263 | 39,378 | ||||||||||
|
| |||||||||||
Total Corporate Bonds — 1.7% (Cost: $8,864,162) | 7,946,955 | |||||||||||
|
| |||||||||||
Floating Rate Loan Interests(a) | ||||||||||||
Aerospace & Defense — 5.3% | ||||||||||||
Bleriot U.S. Bidco, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.26%), 9.57%, 10/31/28 | 965 | 968,429 | ||||||||||
Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-mo. CME Term SOFR at 0.50% Floor + 3.50%), 9.01%, 08/03/29 | 369 | 361,289 | ||||||||||
Cubic Corp. | ||||||||||||
Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.51%), 9.85%, 05/25/28 | 3,414 | 3,186,168 | ||||||||||
Term Loan C, (3-mo. CME Term SOFR at 0.75% Floor + 4.51%), 9.85%, 05/25/28 | 696 | 649,871 | ||||||||||
Dynasty Acquisition Co., Inc., 2024 Term Loan B1, (1-mo. CME Term SOFR + 3.50%), 8.83%, 08/24/28 | 4,274 | 4,280,046 | ||||||||||
NORDAM Group, Inc., Term Loan B, (1-mo. CME Term SOFR + 5.70%), 10.93%, 04/09/26 | 753 | 707,256 | ||||||||||
Ovation Parent, Inc., 2024 Term Loan, 03/27/31(h) | 299 | 299,188 | ||||||||||
Peraton Corp. | ||||||||||||
2nd Lien Term Loan B1, (3-mo. CME Term SOFR + 7.85%), 13.18%, 02/01/29 | 1,692 | 1,693,993 | ||||||||||
Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.85%), 9.18%, 02/01/28 | 5,610 | 5,599,421 | ||||||||||
Setanta Aircraft Leasing DAC, Term Loan B, (3-mo. CME Term SOFR + 2.26%), 7.56%, 11/05/28 | 1,340 | 1,341,956 | ||||||||||
Standard Aero Ltd., 2024 Term Loan B2, (1-mo. CME Term SOFR + 3.50%), 8.83%, 08/24/28 | 1,648 | 1,650,276 | ||||||||||
TransDigm, Inc. | ||||||||||||
2023 Term Loan J, (1-mo. CME Term SOFR at 1.00% Floor + 3.25%), 8.56%, 02/28/31 | 758 | 761,618 | ||||||||||
2024 Term Loan I, (3-mo. CME Term SOFR + 2.75%), 8.57%, 08/24/28 | 2,986 | 2,995,609 | ||||||||||
2024 Term Loan K, 02/22/30(h) | 118 | 118,174 | ||||||||||
|
| |||||||||||
24,613,294 |
Security | Par (000) | Value | ||||||||||
Air Freight & Logistics — 0.1% | ||||||||||||
Rand Parent LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.56%, 03/17/30 | USD | 244 | $ | 243,693 | ||||||||
|
| |||||||||||
Automobile Components — 0.7% | ||||||||||||
Clarios Global LP, 2024 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.33%, 05/06/30 | 2,339 | 2,342,989 | ||||||||||
Tenneco, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR + 5.10%), 10.42%, 11/17/28 | 1,123 | 1,054,868 | ||||||||||
|
| |||||||||||
3,397,857 | ||||||||||||
Automobiles — 0.6% | ||||||||||||
Dealer Tire Financial LLC, 2024 Term Loan B3, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.08%, 12/14/27(d) | 2,513 | 2,528,593 | ||||||||||
RVR Dealership Holdings LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.85%), 9.18%, 02/08/28 | 241 | 225,077 | ||||||||||
|
| |||||||||||
2,753,670 | ||||||||||||
Banks — 0.6% | ||||||||||||
Ascensus Holdings, Inc., Term Loan, (1-mo. CME Term SOFR + 3.61%), 8.94%, 08/02/28 | 2,722 | 2,708,511 | ||||||||||
|
| |||||||||||
Beverages — 1.4% | ||||||||||||
Naked Juice LLC | ||||||||||||
2nd Lien Term Loan, (3-mo. CME Term SOFR + 6.10%), 11.40%, 01/24/30 | 1,804 | 1,452,724 | ||||||||||
Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.35%), 8.66%, 01/24/29 | 3,846 | 3,589,621 | ||||||||||
Triton Water Holdings, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.51%), 8.81%, 03/31/28 | 1,287 | 1,272,391 | ||||||||||
|
| |||||||||||
6,314,736 | ||||||||||||
Broadline Retail — 1.1% | ||||||||||||
Sally Holdings LLC, 2023 CovLite Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.58%, 02/28/30 | 627 | 626,876 | ||||||||||
StubHub Holdco Sub LLC, 2024 Extended Term Loan B, (3-mo. CME Term SOFR + 4.75%), 10.08%, 03/15/30 | 4,403 | 4,400,830 | ||||||||||
Woof Holdings, Inc., 1st Lien Term Loan, (3-mo. CME Term SOFR + 4.01%), 9.32%, 12/21/27 | 378 | 298,695 | ||||||||||
|
| |||||||||||
5,326,401 | ||||||||||||
Building Products — 1.9% | ||||||||||||
AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.58%, 05/13/29 | 275 | 275,541 | ||||||||||
Beacon Roofing Supply, Inc., 2024 Term Loan B, 05/19/28(h) | 1,443 | 1,443,291 | ||||||||||
Foundation Building Materials, Inc., 2024 Term Loan B2, (1-mo. CME Term SOFR + 4.00%), 9.31%, 01/29/31 | 1,676 | 1,681,866 | ||||||||||
LBM Acquisition LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.85%), 9.18%, 12/17/27 | 502 | 501,351 | ||||||||||
SRS Distribution, Inc. | ||||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR + 3.61%), 8.94%, 06/02/28 | 2,737 | 2,753,216 |
2 |
|
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Building Products (continued) | ||||||||||||
SRS Distribution, Inc. (continued) | ||||||||||||
2022 Incremental Term Loan, (1-mo. CME Term SOFR + 3.35%), 8.68%, 06/02/28 | USD | 977 | $ | 981,751 | ||||||||
White Cap Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.08%, 10/19/27 | 1,214 | 1,216,714 | ||||||||||
|
| |||||||||||
8,853,730 | ||||||||||||
Capital Markets — 2.6% | ||||||||||||
Aretec Group, Inc., 2023 Incremental Term Loan, (1-mo. CME Term SOFR + 4.60%), 9.93%, 08/09/30 | 570 | 572,978 | ||||||||||
Axalta Coating Systems U.S. Holdings, Inc., 2024 Term Loan B6, (3-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.33%, 12/20/29 | 1,254 | 1,254,729 | ||||||||||
Azalea Topco, Inc. | ||||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.86%), 9.19%, 07/24/26 | 1,668 | 1,653,998 | ||||||||||
Term Loan, (1-mo. CME Term SOFR + 3.61%), 8.83%, 07/24/26 | 955 | 949,225 | ||||||||||
Castlelake Aviation One DAC | ||||||||||||
2023 Incremental Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.08%, 10/22/27 | 711 | 711,299 | ||||||||||
Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.83%, 10/22/26 | 2,184 | 2,183,375 | ||||||||||
Focus Financial Partners LLC | ||||||||||||
2021 Term Loan B4, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.83%, 06/30/28 | 1,451 | 1,444,571 | ||||||||||
2024 Term Loan B7, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.08%, 06/30/28 | 1,017 | 1,012,671 | ||||||||||
ION Trading Finance Ltd., 2021 USD Term Loan, (3-mo. CME Term SOFR + 4.85%), 10.15%, 04/01/28 | 665 | 663,766 | ||||||||||
Osaic Holdings, Inc. | ||||||||||||
2023 Term Loan B, (1-mo. CME Term SOFR + 4.50%), 9.83%, 08/17/28 | 1,392 | 1,396,972 | ||||||||||
2024 Term Loan, 08/17/28(h) | 383 | 384,268 | ||||||||||
|
| |||||||||||
12,227,852 | ||||||||||||
Chemicals — 4.9% | ||||||||||||
Aruba Investments Holdings LLC | ||||||||||||
2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 7.85%), 13.18%, 11/24/28(d) | 690 | 683,100 | ||||||||||
2020 USD Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.10%), 13.43%, 11/24/27 | 756 | 752,893 | ||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.85%), 10.07%, 08/27/26 | 969 | 951,012 | ||||||||||
Chemours Co., 2023 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.83%, 08/18/28 | 1,148 | 1,142,489 | ||||||||||
CPC Acquisition Corp., Term Loan, (3-mo. CME Term SOFR + 4.01%), 9.32%, 12/29/27 | 449 | 377,547 | ||||||||||
Derby Buyer LLC, USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.58%, 11/01/30 | 2,075 | 2,086,018 | ||||||||||
Ecovyst Catalyst Technologies LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.60%), 7.91%, 06/09/28 | 1,706 | 1,703,558 | ||||||||||
Element Solutions, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.33%, 12/18/30 | 1,962 | 1,962,123 |
Security | Par (000) | Value | ||||||||||
Chemicals (continued) | ||||||||||||
HB Fuller Co., 2024 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.33%, 02/15/30 | USD | 291 | $ | 291,021 | ||||||||
Herens U.S. Holdco Corp., USD Term Loan B, (3-mo. CME Term SOFR + 4.03%), 9.33%, 07/03/28 | 1,061 | 996,013 | ||||||||||
INEOS U.S. Finance LLC, 2023 USD Term Loan B, (1-mo. CME Term SOFR + 3.60%), 8.93%, 02/18/30 | 673 | 671,953 | ||||||||||
LSF11 A5 Holdco LLC | ||||||||||||
2023 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.35%), 9.68%, 10/15/28 | 290 | 289,955 | ||||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.61%), 8.94%, 10/15/28 | 1,507 | 1,506,025 | ||||||||||
Momentive Performance Materials Inc., 2023 Term Loan, (1-mo. CME Term SOFR + 4.50%), 9.83%, 03/29/28 | 2,118 | 2,079,703 | ||||||||||
Nouryon USA LLC, 2023 USD Term Loan B, (3-mo. CME Term SOFR + 4.10%), 9.42%, 04/03/28 | 912 | 913,476 | ||||||||||
Olympus Water US Holding Corp., 2024 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.57%, 11/09/28 | 885 | 886,366 | ||||||||||
OQ Chemicals Corp., 2017 USD Term Loan B2, (3-mo. CME Term SOFR + 3.70%), 8.93%, 10/14/24 | 1,565 | 1,529,848 | ||||||||||
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.11%), 9.44%, 03/16/27 | 1,038 | 1,039,046 | ||||||||||
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1-mo. CME Term SOFR + 3.36%), 8.69%, 08/02/28 | 1,624 | 1,623,498 | ||||||||||
WR Grace Holdings LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.01%), 9.32%, 09/22/28 | 1,391 | 1,391,423 | ||||||||||
|
| |||||||||||
22,877,067 | ||||||||||||
Commercial Services & Supplies — 4.8% | ||||||||||||
Action Environmental Group, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.82%, 10/24/30(d) | 646 | 645,974 | ||||||||||
Allied Universal Holdco LLC | ||||||||||||
2021 USD Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.85%), 9.18%, 05/12/28 | 2,589 | 2,585,168 | ||||||||||
2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.75%), 10.08%, 05/12/28 | 333 | 333,978 | ||||||||||
Amentum Government Services Holdings LLC, 2022 Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.33%, 02/15/29 | 777 | 778,129 | ||||||||||
Aramark Services, Inc., 2024 Term Loan B8, (3-mo. CME Term SOFR + 2.00%), 7.33%, 06/22/30 | 757 | 756,652 | ||||||||||
Champions Financing, Inc., 2024 Term Loan B, (3-mo. CME Term SOFR + 4.75%), 10.07%, 02/23/29(d) | 2,334 | 2,339,835 | ||||||||||
Creative Artists Agency LLC, 2024 Term Loan B, 11/27/28(h) | 2,728 | 2,728,725 | ||||||||||
Garda World Security Corp., 2022 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.58%, 02/01/29 | 429 | 429,270 | ||||||||||
Mavis Tire Express Services Topco Corp., 2024 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.08%, 05/04/28 | 2,957 | 2,958,601 |
SCHEDULE OF INVESTMENTS | 3 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Commercial Services & Supplies (continued) |
| |||||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.51%), 9.82%, 12/15/28 | USD | 796 | $ | 603,603 | ||||||||
Prime Security Services Borrower LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.83%, 10/14/30 | 738 | 738,150 | ||||||||||
Tempo Acquisition LLC, 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.08%, 08/31/28 | 4,743 | 4,755,376 | ||||||||||
TruGreen LP, 2020 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.10%), 9.43%, 11/02/27 | 1,631 | 1,584,703 | ||||||||||
Vestis Corp., Term Loan, (3-mo. CME Term SOFR + 2.25%), 7.58%, 02/22/31(d) | 299 | 298,626 | ||||||||||
Viad Corp., Initial Term Loan, (1-mo. CME Term SOFR + 5.11%), 10.44%, 07/30/28 | 976 | 975,585 | ||||||||||
|
| |||||||||||
22,512,375 | ||||||||||||
Communications Equipment — 0.7% | ||||||||||||
Ciena Corp., 2020 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.33%, 10/24/30 | 1,394 | 1,396,170 | ||||||||||
Viasat, Inc. | ||||||||||||
2023 Term Loan, (1-mo. CME Term SOFR + 4.61%), 9.93%, 05/30/30 | 568 | 549,301 | ||||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.83%, 03/02/29 | 1,135 | 1,097,573 | ||||||||||
|
| |||||||||||
3,043,044 | ||||||||||||
Construction & Engineering — 1.4% | ||||||||||||
Brand Industrial Services, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 5.50%), 10.81%, 08/01/30 | 3,329 | 3,340,556 | ||||||||||
Legence Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.60%), 8.93%, 12/16/27 | 222 | 221,243 | ||||||||||
Pike Corp., 2021 Incremental Term Loan B, (1-mo. CME Term SOFR + 3.11%), 8.44%, 01/21/28 | 1,045 | 1,047,757 | ||||||||||
USIC Holdings, Inc., 2021 Term Loan, (3-mo. CME Term SOFR + 3.76%), 9.06%, 05/12/28 | 1,729 | 1,724,498 | ||||||||||
|
| |||||||||||
6,334,054 | ||||||||||||
Construction Materials — 4.5% | ||||||||||||
ACProducts Holdings, Inc., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.51%), 9.81%, 05/17/28 | 1,624 | 1,476,542 | ||||||||||
American Builders & Contractors Supply Co., Inc., 2024 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.33%, 01/31/31 | 1,182 | 1,181,559 | ||||||||||
Chariot Buyer LLC | ||||||||||||
2024 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.08%, 11/03/28 | 637 | 637,796 | ||||||||||
Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.35%), 8.68%, 11/03/28 | 2,426 | 2,421,011 | ||||||||||
Cornerstone Building Brands, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.35%), 8.68%, 04/12/28 | 263 | 260,701 | ||||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.85%), 9.18%, 11/23/27 | 1,448 | 1,428,487 | ||||||||||
CP Iris Holdco I, Inc. | ||||||||||||
2021 2nd Lien Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 7.10%), 12.43%, 10/01/29(d) | 1,046 | 967,550 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.85%), 9.18%, 10/02/28 | 234 | 233,259 |
Security | Par (000) | Value | ||||||||||
Construction Materials (continued) | ||||||||||||
CPG International LLC, 2022 Term Loan B, (1-mo. CME Term SOFR + 2.60%), 7.93%, 04/28/29 | USD | 788 | $ | 788,741 | ||||||||
Emerald Debt Merger Sub LLC, Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.79%, 05/31/30 | 1,689 | 1,687,536 | ||||||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1-mo. CME Term SOFR + 1.85%), 7.18%, 03/01/27 | 516 | 516,675 | ||||||||||
LSF10 XL Bidco SCA, 2021 EUR Term Loan B4, (3-mo. EURIBOR + 4.18%), 8.08%, 04/12/28 | EUR | 853 | 846,645 | |||||||||
New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.33%, 03/08/29 | USD | 836 | 796,691 | |||||||||
Oscar AcquisitionCo. LLC, Term Loan B, (3-mo. CME Term SOFR + 4.60%), 9.90%, 04/29/29 | 1,091 | 1,093,432 | ||||||||||
Quikrete Holdings, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.86%), 8.19%, 03/19/29 | 620 | 620,253 | ||||||||||
Smyrna Ready Mix Concrete LLC, 2023 Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.83%, 04/02/29(d) | 535 | 537,818 | ||||||||||
Standard Industries, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.36%), 7.69%, 09/22/28 | 1,579 | 1,578,969 | ||||||||||
Summit Materials LLC, 2023 Incremental Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.83%, 01/12/29 | 729 | 732,098 | ||||||||||
Wilsonart LLC, 2021 Term Loan E, (3-mo. CME Term SOFR at 1.00% Floor + 3.35%), 8.65%, 12/31/26 | 3,131 | 3,133,265 | ||||||||||
Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.11%), 7.44%, 10/04/28. | 111 | 111,326 | ||||||||||
|
| |||||||||||
21,050,354 | ||||||||||||
Consumer Finance — 1.2% | ||||||||||||
GTCR W Merger Sub LLC, USD Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.31%, 01/31/31 | 2,082 | 2,087,642 | ||||||||||
Trans Union LLC | ||||||||||||
2019 Term Loan B5, (1-mo. CME Term SOFR + 1.85%), 7.18%, 11/16/26 | 1,827 | 1,824,669 | ||||||||||
2024 Term Loan B6, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.33%, 12/01/28 | 1,839 | 1,837,438 | ||||||||||
|
| |||||||||||
5,749,749 | ||||||||||||
Consumer Staples Distribution & Retail — 0.3% |
| |||||||||||
U.S. Foods, Inc. | ||||||||||||
2019 Term Loan B, (1-mo. CME Term SOFR + 2.11%), 7.44%, 09/13/26 | 634 | 635,272 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.33%, 11/22/28 | 891 | 894,161 | ||||||||||
|
| |||||||||||
1,529,433 | ||||||||||||
Containers & Packaging — 2.3% | ||||||||||||
Charter Next Generation, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.83%, 12/01/27 | 3,735 | 3,740,409 | ||||||||||
LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.10%), 10.43%, 10/29/28 | 1,585 | 1,549,779 | ||||||||||
Mauser Packaging Solutions Holding Co., Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.33%, 08/14/26 | 1,253 | 1,256,017 | ||||||||||
Pactiv Evergreen Group Holdings Inc, 2020 Term Loan B2, (1-mo. CME Term SOFR + 3.36%), 8.69%, 02/05/26 | 226 | 226,896 |
4 |
|
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Containers & Packaging (continued) | ||||||||||||
Pregis TopCo LLC | ||||||||||||
1st Lien Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.08%, 07/31/26 | USD | 667 | $ | 667,968 | ||||||||
2021 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.86%), 9.19%, 07/31/26 | 692 | 692,000 | ||||||||||
Reynolds Consumer Products LLC, Term Loan, (1-mo. CME Term SOFR + 1.75%), 7.18%, 02/04/27 | 1,306 | 1,307,463 | ||||||||||
Trident TPI Holdings, Inc., 2021 Term Loan B3, (3-mo. CME Term SOFR at 0.50% Floor + 4.26%), 9.81%, 09/15/28 | 1,272 | 1,271,671 | ||||||||||
|
| |||||||||||
10,712,203 | ||||||||||||
Distributors — 0.2% | ||||||||||||
PAI Holdco, Inc., 2020 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.01%), 9.32%, 10/28/27 | 1,008 | 948,652 | ||||||||||
|
| |||||||||||
Diversified Consumer Services — 2.0% | ||||||||||||
Ascend Learning LLC | ||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 5.85%), 11.18%, 12/10/29 | 190 | 186,762 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR + 3.60%), 8.93%, 12/11/28 | 619 | 614,293 | ||||||||||
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 2.36%), 7.69%, 11/24/28 | 916 | 914,489 | ||||||||||
KUEHG Corp., 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.30%, 06/12/30 | 1,401 | 1,403,244 | ||||||||||
Learning Care Group U.S. No. 2, Inc., 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.75%), 10.07%, 08/11/28 | 220 | 219,941 | ||||||||||
Sotheby’s, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.76%), 10.08%, 01/15/27 | 2,715 | 2,658,632 | ||||||||||
Spring Education Group, Inc., Term Loan, (3-mo. CME Term SOFR + 4.50%), 9.81%, 10/04/30 | 1,481 | 1,486,319 | ||||||||||
Wand NewCo 3, Inc., 2024 Term Loan B, | 1,910 | 1,914,469 | ||||||||||
|
| |||||||||||
9,398,149 | ||||||||||||
Diversified Telecommunication Services — 2.4% |
| |||||||||||
Connect Finco SARL | ||||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.50%), 8.83%, 12/11/26 | 1,266 | 1,255,940 | ||||||||||
2024 Extended Term Loan B, 09/13/29(h) | 1,260 | 1,238,251 | ||||||||||
Consolidated Communications, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.61%), 8.94%, 10/02/27 | 444 | 420,474 | ||||||||||
Level 3 Financing, Inc.(d) | ||||||||||||
2024 Extended Term Loan B1, (1-week CME Term SOFR at 2.00% Floor + 6.56%), 11.81%, 04/15/29 | 967 | 959,859 | ||||||||||
2024 Extended Term Loan B2, (1-week CME Term SOFR at 2.00% Floor + 6.56%), 11.81%, 04/15/30 | 974 | 966,902 | ||||||||||
Lumen Technologies, Inc. | ||||||||||||
2024 Extended Term Loan B1, (1-week CME Term SOFR at 2.00% Floor + 2.46%), 7.79%, 04/15/29 | 746 | 552,679 |
Security | Par (000) | Value | ||||||||||
Diversified Telecommunication Services (continued) |
| |||||||||||
Lumen Technologies, Inc. (continued) | ||||||||||||
2024 Extended Term Loan B2, (3-mo. CME Term SOFR at 2.00% Floor + 2.46%), 7.79%, 04/15/30(d) | USD | 762 | $ | 564,120 | ||||||||
ORBCOMM, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.51%), 9.77%, 09/01/28 | 861 | 832,281 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1-mo. CME Term SOFR + 3.00%), 8.44%, 03/09/27 | 5,045 | 4,415,296 | ||||||||||
|
| |||||||||||
11,205,802 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.9% |
| |||||||||||
Coherent Corp., 2022 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.19%, 07/02/29 | 1,510 | 1,510,087 | ||||||||||
MX Holdings U.S., Inc., 2023 USD Term Loan B1D, (1-mo. CME Term SOFR at 0.75% Floor + 2.86%), 8.19%, 07/31/28 | 189 | 189,129 | ||||||||||
Roper Industrial Products Investment Co., 2023 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.30%, 11/22/29 | 2,720 | 2,734,886 | ||||||||||
|
| |||||||||||
4,434,102 | ||||||||||||
Energy Equipment & Services — 0.0% | ||||||||||||
Lealand Finance Co. BV | ||||||||||||
2020 Make Whole Term Loan, (1-mo. CME Term SOFR + 3.11%), 8.44%, 06/28/24(d) | 40 | 20,121 | ||||||||||
2020 Take Back Term Loan, (1-mo. CME Term SOFR + 1.11%), 6.44%, 06/30/25 | 311 | 120,486 | ||||||||||
|
| |||||||||||
140,607 | ||||||||||||
Entertainment — 3.2% | ||||||||||||
AMC Entertainment Holdings, Inc., 2019 Term Loan B, (1-mo. CME Term SOFR + 3.11%), 8.44%, 04/22/26 | 1,487 | 1,243,416 | ||||||||||
Aristocrat Technologies, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR + 2.35%), 7.66%, 05/24/29 | 101 | 101,126 | ||||||||||
Cirque Du Soleil Holding USA Newco, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.55%, 03/08/30 | 898 | 896,808 | ||||||||||
Delta 2 Lux SARL, 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.56%, 01/15/30 | 1,847 | 1,847,462 | ||||||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 2.35%), 7.68%, 03/24/25 | 1,291 | 1,288,396 | ||||||||||
Live Nation Entertainment, Inc., Term Loan B4, (1-mo. CME Term SOFR + 1.85%), 7.18%, 10/19/26 | 2,498 | 2,492,630 | ||||||||||
Motion Finco SARL, 2024 USD Term Loan B, 11/12/29(h) | 1,267 | 1,264,140 | ||||||||||
NEP Group, Inc., 2023 Term Loan B, 08/19/26(h) | 1,902 | 1,805,721 | ||||||||||
SMG U.S. Midco 2, Inc., 2020 Term Loan, (3-mo. CME Term SOFR + 2.76%), 8.07%, 01/23/25 | 413 | 412,811 | ||||||||||
UFC Holdings LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.01%), 8.34%, 04/29/26 | 889 | 889,600 | ||||||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 2.86%), 8.19%, 05/18/25 | 2,644 | 2,640,404 | ||||||||||
|
| |||||||||||
14,882,514 |
SCHEDULE OF INVESTMENTS | 5 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Environmental, Maintenance & Security Service — 0.8% |
| |||||||||||
Clean Harbors, Inc., 2023 Term Loan, (1-mo. CME Term SOFR + 1.86%), 7.19%, 10/08/28 | USD | 1,023 | $ | 1,024,265 | ||||||||
Covanta Holding Corp. | ||||||||||||
2021 Term Loan C, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.83%, 11/30/28 | 86 | 85,367 | ||||||||||
2024 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.07%, 11/30/28 | 874 | 872,829 | ||||||||||
2024 Term Loan C, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.07%, 11/30/28 | 48 | 47,695 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.83%, 11/30/28 | 1,121 | 1,116,865 | ||||||||||
GFL Environmental, Inc., 2023 First Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 05/31/27 | 724 | 726,557 | ||||||||||
|
| |||||||||||
3,873,578 | ||||||||||||
Financial Services — 3.9% | ||||||||||||
Belron Finance U.S. LLC | ||||||||||||
2018 Term Loan B, (3-mo. CME Term SOFR + 2.51%), 7.82%, 11/13/25 | 429 | 429,621 | ||||||||||
2019 USD Term Loan B3, (3-mo. CME Term SOFR + 2.51%), 7.83%, 10/30/26 | 855 | 855,048 | ||||||||||
2023 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.35%), 7.66%, 04/18/29 | 468 | 468,645 | ||||||||||
2023 USD Term Loan, (3-mo. CME Term SOFR + 2.26%), 7.58%, 04/13/28 | 4,549 | 4,548,775 | ||||||||||
Cogeco Financing 2 LP, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.61%), 7.94%, 09/29/28 | 1,576 | 1,534,261 | ||||||||||
Deerfield Dakota Holding LLC | ||||||||||||
2020 USD Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 3.75%), 9.06%, 04/09/27 | 6,099 | 6,066,274 | ||||||||||
2021 USD 2nd Lien Term Loan, (3-mo. CME Term SOFR + 7.01%), 12.32%, 04/07/28 | 1,806 | 1,799,228 | ||||||||||
FinCo I LLC, 2023 Term Loan, (3-mo. CME Term SOFR + 3.00%), 8.31%, 06/27/29 | 610 | 610,542 | ||||||||||
GIP Pilot Acquisition Partners LP, Term Loan, (3-mo. CME Term SOFR + 3.00%), 8.33%, 10/04/30 | 301 | 301,677 | ||||||||||
Hyperion Refinance SARL, 2024 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.83%, 02/15/31 | 705 | 705,063 | ||||||||||
Sunrise Financing Partnership, 2021 USD Term Loan AX, (1-mo. CME Term SOFR + 3.11%), 8.44%, 01/31/29 | 768 | 763,868 | ||||||||||
|
| |||||||||||
18,083,002 | ||||||||||||
Food Products — 2.5% | ||||||||||||
8th Avenue Food & Provisions, Inc. | ||||||||||||
2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 3.86%), 9.19%, 10/01/25 | 1,000 | 980,254 | ||||||||||
2021 Incremental Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.86%), 10.19%, 10/01/25 | 1,504 | 1,476,399 | ||||||||||
Chobani LLC | ||||||||||||
2020 Term Loan B, (1-mo. CME Term SOFR + 3.61%), 8.94%, 10/25/27 | 3,188 | 3,192,921 | ||||||||||
2023 Incremental Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.08%, 10/25/27 | 820 | 824,045 | ||||||||||
Froneri U.S., Inc., 2020 USD Term Loan, (1-mo. CME Term SOFR + 2.35%), 7.68%, 01/29/27 | 3,505 | 3,505,970 |
Security | Par (000) | Value | ||||||||||
Food Products (continued) | ||||||||||||
H-Food Holdings LLC, 2018 Term Loan B, (3-mo. CME Term SOFR + 3.95%), 9.29%, 05/23/25 | USD | 493 | $ | 356,832 | ||||||||
Nomad Foods U.S. LLC, Term Loan B4, (6-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.27%, 11/13/29 | 1,002 | 1,002,898 | ||||||||||
UTZ Quality Foods LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.11%), 8.44%, 01/20/28 | 553 | 553,486 | ||||||||||
|
| |||||||||||
11,892,805 | ||||||||||||
Ground Transportation — 0.7% | ||||||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.85%), 10.17%, 04/06/28 | 571 | 572,064 | ||||||||||
Avis Budget Car Rental LLC, 2020 Term Loan B, (1-mo. CME Term SOFR + 1.86%), 7.19%, 08/06/27 | 650 | 646,936 | ||||||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3-mo. CME Term SOFR + 5.76%), 11.10%, 08/04/25 | 1,136 | 796,861 | ||||||||||
Uber Technologies, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.08%, 03/03/30 | 1,271 | 1,275,768 | ||||||||||
|
| |||||||||||
3,291,629 | ||||||||||||
Health Care Equipment & Supplies — 2.8% | ||||||||||||
Avantor Funding, Inc., 2021 Term Loan B5, (1-mo. CME Term SOFR + 2.35%), 7.68%, 11/08/27 | 1,082 | 1,082,141 | ||||||||||
Bausch & Lomb Corp., 2023 Incremental Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.33%, 09/29/28 | 939 | 937,523 | ||||||||||
Bausch and Lomb Corp., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.35%), 8.68%, 05/10/27 | 2,248 | 2,219,202 | ||||||||||
Insulet Corp., 2024 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.33%, 05/04/28 | 756 | 756,260 | ||||||||||
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.31%, 10/19/27 | 1,472 | 1,444,567 | ||||||||||
Medline Borrower LP, USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.44%, 10/23/28 | 3,910 | 3,918,547 | ||||||||||
Sotera Health Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR + 2.86%), 8.19%, 12/11/26 | 2,539 | 2,525,239 | ||||||||||
|
| |||||||||||
12,883,479 | ||||||||||||
Health Care Providers & Services — 5.2% | ||||||||||||
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1-mo. CME Term SOFR + 2.11%), 7.44%, 02/22/28 | 1,895 | 1,892,412 | ||||||||||
CHG Healthcare Services, Inc. | ||||||||||||
2021 Term Loan, (1-mo. CME Term SOFR + 3.36%), 8.69%, 09/29/28 | 1,010 | 1,010,100 | ||||||||||
2023 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.09%, 09/29/28 | 215 | 214,866 | ||||||||||
CNT Holdings I Corp., 2020 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.82%, 11/08/27 | 2,197 | 2,199,678 | ||||||||||
Electron BidCo, Inc., 2021 Term Loan, (1-mo. CME Term SOFR + 3.11%), 8.44%, 11/01/28 | 2,163 | 2,166,462 |
6 |
|
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Health Care Providers & Services (continued) | ||||||||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.61%), 9.94%, 02/04/27 | USD | 811 | $ | 812,822 | ||||||||
EyeCare Partners LLC | ||||||||||||
2020 Term Loan, (3-mo. CME Term SOFR + 4.01%), 9.32%, 02/18/27 | 1,647 | 864,879 | ||||||||||
2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 7.01%), 12.32%, 11/15/29 | 581 | 200,404 | ||||||||||
2021 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.01%), 9.32%, 11/15/28 | 528 | 274,199 | ||||||||||
Fortrea Holdings, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.08%, 07/01/30 | 419 | 419,882 | ||||||||||
ICON Luxembourg SARL | ||||||||||||
2024 LUX Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.30%, 07/03/28 | 1,791 | 1,794,329 | ||||||||||
2024 US Term Loan B, 0.00%, 07/03/28 | 447 | 447,905 | ||||||||||
Ingenovis Health, Inc., Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.19%, 03/06/28 | 1,600 | 1,428,979 | ||||||||||
IQVIA, Inc., 2023 USD Term Loan B4, (3-mo. CME Term SOFR + 2.00%), 7.31%, 01/02/31 | 1,220 | 1,224,737 | ||||||||||
MED ParentCo LP, 1st Lien Term Loan, (1-mo. CME Term SOFR + 4.36%), 9.69%, 08/31/26 | 381 | 380,022 | ||||||||||
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 7.10%), 12.43%, 11/01/29 | 611 | 488,036 | ||||||||||
Phoenix Newco, Inc., 2021 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.36%), 8.69%, 11/15/28 | 3,030 | 3,035,353 | ||||||||||
Precision Medicine Group LLC, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.10%), 8.40%, 11/18/27 | 1,218 | 1,201,976 | ||||||||||
Reverb Buyer, Inc., 2021 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.35%), 8.68%, 11/01/28 | 900 | 801,029 | ||||||||||
Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.31%, 09/27/30 | 887 | 881,013 | ||||||||||
Surgery Center Holdings, Inc., 2023 Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.83%, 12/19/30 | 1,164 | 1,168,645 | ||||||||||
Vizient, Inc., 2022 Term Loan B7, (1-mo. CME Term SOFR at 0.50% Floor + 2.35%), 7.68%, 05/16/29 | 332 | 333,164 | ||||||||||
WCG Intermediate Corp., 2019 Term Loan, (1-mo. CME Term SOFR + 4.11%), 9.44%, 01/08/27 | 1,096 | 1,096,058 | ||||||||||
|
| |||||||||||
24,336,950 | ||||||||||||
Health Care Technology — 2.8% | ||||||||||||
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.58%, 02/15/29 | 3,101 | 3,067,533 | ||||||||||
Cotiviti, Inc.(h) | ||||||||||||
2024 Fixed Term Loan B, 02/21/31 | 1,086 | 1,087,358 | ||||||||||
2024 Term Loan, 02/21/31 | 1,978 | 1,973,055 |
Security | Par (000) | Value | ||||||||||
Health Care Technology (continued) | ||||||||||||
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME Term SOFR + 4.10%), 9.41%, 10/01/27 | USD | 3,220 | $ | 3,073,906 | ||||||||
Verscend Holding Corp., 2021 Term Loan B, (1-mo. CME Term SOFR + 4.11%), 9.44%, 08/27/25 | 3,077 | 3,077,109 | ||||||||||
Waystar Technologies, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.33%, 10/22/29 | 912 | 913,330 | ||||||||||
|
| |||||||||||
13,192,291 | ||||||||||||
Hotel & Resort REITs — 0.1% | ||||||||||||
RHP Hotel Properties LP, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.08%, 05/18/30 | 490 | 490,167 | ||||||||||
|
| |||||||||||
Hotels, Restaurants & Leisure — 7.9% | ||||||||||||
Alterra Mountain Co.(d) | ||||||||||||
2023 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.18%, 05/31/30 | 154 | 154,414 | ||||||||||
2024 Add-on Term Loan B, 05/31/30(h) | 215 | 215,806 | ||||||||||
Bally’s Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.83%, 10/02/28 | 1,201 | 1,125,843 | ||||||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc., 2023 Term Loan B5, (1-mo. CME Term SOFR + 2.25%), 7.58%, 09/20/30 | 2,317 | 2,314,476 | ||||||||||
Caesars Entertainment, Inc. | ||||||||||||
2024 Term Loan B1, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.04%, 02/06/31 | 2,874 | 2,874,000 | ||||||||||
Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.35%), 8.66%, 02/06/30 | 1,235 | 1,236,592 | ||||||||||
Carnival Corp., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.32%, 08/08/27 | 1,157 | 1,157,914 | ||||||||||
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1-mo. CME Term SOFR + 2.10%), 7.43%, 03/17/28 | 1,451 | 1,450,398 | ||||||||||
City Football Group Ltd., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.11%), 8.44%, 07/21/28 | 1,563 | 1,560,100 | ||||||||||
ECL Entertainment, LLC, 2023 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.08%, 08/31/30 | 800 | 802,180 | ||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.08%, 01/27/29 | 4,407 | 4,415,349 | ||||||||||
Flutter Financing BV, Term Loan B, (3-mo. CME Term SOFR + 2.25%), 7.56%, 11/25/30 | 3,549 | 3,547,188 | ||||||||||
Four Seasons Hotels Ltd., 2024 Term Loan B, (3-mo. CME Term SOFR + 2.10%), 7.43%, 11/30/29 | 3,162 | 3,163,680 | ||||||||||
Hilton Domestic Operating Co., Inc., 2023 Term Loan B4, (1-mo. CME Term SOFR + 2.00%), 7.43%, 11/08/30 | 767 | 768,135 | ||||||||||
IRB Holding Corp., 2024 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 2.85%), 8.08%, 12/15/27 | 2,379 | 2,378,159 |
SCHEDULE OF INVESTMENTS | 7 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||||||
Light & Wonder International, Inc., 2024 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.08%, 04/14/29 | USD | 1,084 | $ | 1,085,368 | ||||||||
Packers Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.68%, 03/09/28 | 898 | 569,286 | ||||||||||
Penn Entertainment, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR + 2.85%), 8.18%, 05/03/29 | 1,464 | 1,464,751 | ||||||||||
Playa Resorts Holding BV, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.58%, 01/05/29 | 473 | 474,096 | ||||||||||
SeaWorld Parks & Entertainment, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.83%, 08/25/28 | 546 | 544,928 | ||||||||||
Station Casinos LLC, 2024 Term Loan B, 03/14/31(h) | 1,972 | 1,968,194 | ||||||||||
Whatabrands LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.36%), 8.69%, 08/03/28 | 2,818 | 2,817,952 | ||||||||||
Wyndham Hotels & Resorts, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.35%), 7.68%, 05/24/30 | 530 | 531,419 | ||||||||||
|
| |||||||||||
36,620,228 | ||||||||||||
Household Durables — 1.7% | ||||||||||||
AI Aqua Merger Sub, Inc., 2023 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.58%, 07/31/28 | 1,308 | 1,312,402 | ||||||||||
Hunter Douglas, Inc., USD Term Loan B1, (3-mo. CME Term SOFR + 3.50%), 8.82%, 02/26/29 | 2,378 | 2,346,464 | ||||||||||
Serta Simmons Bedding, LLC, 2023 New Term Loan, (3-mo. CME Term SOFR + 7.61%), 12.92%, 06/29/28 | 499 | 445,616 | ||||||||||
Stitch Aquisition Corp., Term Loan B, (3-mo. CME Term SOFR + 7.00%), 12.31%, 07/28/28 | 1,075 | 268,812 | ||||||||||
Sunset Debt Merger Sub, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR + 4.11%), 9.44%, 10/06/28 | 814 | 745,834 | ||||||||||
Weber-Stephen Products LLC, Term Loan B, (1-mo. CME Term SOFR + 3.36%), 8.69%, 10/30/27 | 3,086 | 2,844,886 | ||||||||||
|
| |||||||||||
7,964,014 | ||||||||||||
Household Products — 0.1% | ||||||||||||
Kronos Acquisition Holdings, Inc., 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 6.15%), 11.49%, 12/22/26 | 402 | 402,255 | ||||||||||
|
| |||||||||||
Independent Power and Renewable Electricity Producers — 0.9% |
| |||||||||||
Calpine Construction Finance Co. LP, 2023 Refinancing Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.58%, 07/31/30 | 1,225 | 1,222,999 | ||||||||||
Calpine Corp., Term Loan B9, (1-mo. CME Term SOFR + 2.00%), 7.33%, 01/31/31 | 589 | 585,378 | ||||||||||
Constellation Renewables LLC, 2020 Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 2.76%), 8.10%, 12/15/27 | 1,184 | 1,183,997 | ||||||||||
NRG Energy, Inc., 2024 Term Loan, 03/27/31(h) | 1,245 | 1,242,672 | ||||||||||
|
| |||||||||||
4,235,046 |
Security | Par (000) | Value | ||||||||||
Industrial Conglomerates — 0.1% | ||||||||||||
JFL-Tiger Acquisition Co., Inc., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.32%, 10/17/30 | USD | 588 | $ | 588,707 | ||||||||
|
| |||||||||||
Insurance — 7.5% | ||||||||||||
Alliant Holdings Intermediate LLC, 2023 Term Loan B6, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.83%, 11/06/30 | 6,837 | 6,863,095 | ||||||||||
AmWINS Group, Inc. | ||||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR + 2.36%), 7.69%, 02/19/28 | 2,554 | 2,554,086 | ||||||||||
2023 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 2.75%), 8.19%, 02/19/28 | 491 | 491,264 | ||||||||||
Amynta Agency Borrower, Inc., 2023 1st Lien Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.55%, 02/28/28 | 1,409 | 1,413,193 | ||||||||||
AssuredPartners, Inc. | ||||||||||||
2020 Term Loan B, (1-mo. CME Term SOFR + 3.61%), 8.94%, 02/12/27 | 1,386 | 1,386,799 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.61%), 8.94%, 02/12/27 | 869 | 869,471 | ||||||||||
2023 Term Loan B4, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.08%, 02/12/27 | 431 | 430,770 | ||||||||||
2024 Incremental Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.83%, 02/14/31 | 473 | 473,445 | ||||||||||
Baldwin Risk Partners, LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.61%), 8.94%, 10/14/27 | 435 | 433,744 | ||||||||||
HUB International Ltd., 2024 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.57%, 06/20/30 | 4,942 | 4,942,758 | ||||||||||
Jones Deslauriers Insurance Management, Inc., 2024 Term Loan B, (3-mo. CME Term SOFR + 3.50%), 8.80%, 03/15/30 | 1,137 | 1,135,931 | ||||||||||
Ryan Specialty LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 2.75%), 8.08%, 09/01/27 | 1,342 | 1,342,729 | ||||||||||
Sedgwick Claims Management Services, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.08%, 02/24/28 | 3,979 | 3,984,665 | ||||||||||
Truist Insurance Holdings LLC(h) | ||||||||||||
1st Lien Term Loan, 03/24/31 | 2,567 | 2,562,713 | ||||||||||
2nd Lien Term Loan, 03/08/32 | 1,006 | 1,011,030 | ||||||||||
USI, Inc./New York | ||||||||||||
2023 Acquisition Term Loan, (3-mo. CME Term SOFR + 3.25%), 8.55%, 09/27/30 | 1,109 | 1,109,769 | ||||||||||
2023 Term Loan B, (3-mo. CME Term SOFR + 3.00%), 8.30%, 11/22/29 | 4,043 | 4,042,961 | ||||||||||
|
| |||||||||||
35,048,423 | ||||||||||||
Interactive Media & Services — 0.1% | ||||||||||||
Acuris Finance U.S., Inc., 2021 USD Term Loan B, (3-mo. CME Term SOFR + 4.15%), 9.45%, 02/16/28 | 429 | 427,649 | ||||||||||
|
| |||||||||||
Internet Software & Services — 0.3% | ||||||||||||
Gen Digital, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR + 2.10%), 7.43%, 09/12/29 | 1,291 | 1,290,177 | ||||||||||
|
|
8 |
|
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
IT Services — 3.0% | ||||||||||||
Asurion LLC | ||||||||||||
2020 Term Loan B8, (1-mo. CME Term SOFR + 3.36%), 8.69%, 12/23/26 | USD | 292 | $ | 285,896 | ||||||||
2021 2nd Lien Term Loan B3, (1-mo. CME Term SOFR + 5.36%), 10.69%, 01/31/28 | 1,117 | 1,002,272 | ||||||||||
2021 Second Lien Term Loan B4, (1-mo. CME Term SOFR + 5.36%), 10.69%, 01/20/29 | 1,066 | 949,571 | ||||||||||
2023 Term Loan B11, (1-mo. CME Term SOFR + 4.35%), 9.68%, 08/19/28 | 1,652 | 1,591,743 | ||||||||||
Camelot U.S. Acquisition LLC, 2024 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.08%, 01/31/31 | 3,256 | 3,253,876 | ||||||||||
Central Parent, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.31%, 07/06/29 | 2,697 | 2,703,504 | ||||||||||
Go Daddy Operating Co. LLC | ||||||||||||
2021 Term Loan B4, (1-mo. CME Term SOFR + 2.11%), 7.44%, 08/10/27 | 723 | 722,874 | ||||||||||
2024 Term Loan B6, (1-mo. CME Term SOFR + 2.00%), 7.33%, 11/09/29 | 1,752 | 1,750,373 | ||||||||||
Magenta Buyer LLC | ||||||||||||
2021 USD 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 5.26%), 10.57%, 07/27/28 | 1,290 | 758,423 | ||||||||||
2021 USD 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 8.51%), 13.82%, 07/27/29 | 1,674 | 485,374 | ||||||||||
Venga Finance SARL, 2021 USD Term Loan B, (3-mo. CME Term SOFR + 5.01%), 10.35%, 06/28/29 | 641 | 639,408 | ||||||||||
|
| |||||||||||
14,143,314 | ||||||||||||
Leisure Products — 0.2% | ||||||||||||
Fender Musical Instruments Corp., 2021 Term Loan B, (1-mo. CME Term SOFR + 4.10%), 9.43%, 12/01/28 | 481 | 472,303 | ||||||||||
Peloton Interactive, Inc., Term Loan, (6-mo. CME Term SOFR + 7.10%), 12.48%, 05/25/27 | 340 | 341,009 | ||||||||||
|
| |||||||||||
813,312 | ||||||||||||
Machinery — 6.8% | ||||||||||||
Albion Financing 3 SARL, USD Term Loan, (3-mo. CME Term SOFR + 5.51%), 10.83%, 08/17/26 | 1,951 | 1,955,754 | ||||||||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 5.01%), 10.32%, 06/23/28 | 2,228 | 2,228,306 | ||||||||||
Barnes Group Inc, 2024 Term Loan, (1-mo. CME Term SOFR + 2.50%), 7.83%, 09/03/30 | 1,046 | 1,048,473 | ||||||||||
Columbus McKinnon Corp./New York, 2024 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.81%, 05/14/28(d) | 337 | 337,894 | ||||||||||
Doosan Bobcat North America, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR + 2.60%), 7.90%, 04/20/29 | 263 | 263,149 | ||||||||||
Filtration Group Corp. | ||||||||||||
2021 Incremental Term Loan, (1-mo. CME Term SOFR + 3.61%), 8.94%, 10/21/28 | 1,158 | 1,160,037 | ||||||||||
2023 USD Term Loan, (1-mo. CME Term SOFR + 4.36%), 9.69%, 10/21/28 | 2,347 | 2,353,341 | ||||||||||
Gardner Denver, Inc., 2020 USD Term Loan B2, (1-mo. CME Term SOFR + 1.85%), 7.18%, 03/01/27 | 355 | 355,369 |
Security | Par (000) | Value | ||||||||||
Machinery (continued) | ||||||||||||
Gates Global LLC, 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.75% Floor + 2.60%), 7.93%, 03/31/27 | USD | 2,209 | $ | 2,210,898 | ||||||||
Generac Power Systems, Inc., 2019 Term Loan B, (1-mo. CME Term SOFR + 1.85%), 7.18%, 12/13/26 | 325 | 324,188 | ||||||||||
Madison IAQ LLC, Term Loan, (1-mo. CME Term SOFR + 3.36%), 8.69%, 06/21/28 | 3,663 | 3,655,886 | ||||||||||
SPX Flow, Inc., 2022 Term Loan, (1-mo. CME Term SOFR + 4.60%), 9.93%, 04/05/29 | 1,940 | 1,946,319 | ||||||||||
Titan Acquisition Ltd./Canada | ||||||||||||
2018 Term Loan B, (1-mo. CME Term SOFR + 3.11%), 8.44%, 03/28/25 | 3,824 | 3,818,735 | ||||||||||
2024 Term Loan B, 02/01/29(h) | 2,965 | 2,971,154 | ||||||||||
TK Elevator U.S. Newco, Inc., USD Term Loan B, 04/30/30(h) | 3,646 | 3,648,428 | ||||||||||
Vertiv Group Corp., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.61%), 7.94%, 03/02/27 | 2,399 | 2,402,327 | ||||||||||
Wec US Holdings Ltd., 2024 Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.08%, 01/27/31 | 1,143 | 1,141,343 | ||||||||||
|
| |||||||||||
31,821,601 | ||||||||||||
Media — 4.2% | ||||||||||||
A L Parent LLC, 2023 Take Back Term Loan, (1-mo. CME Term SOFR at 2.00% Floor + 5.50%), 10.83%, 06/30/28 | 479 | 476,545 | ||||||||||
ABG Intermediate Holdings 2 LLC, 2021 Term Loan B1, (1-mo. CME Term SOFR + 3.60%), 8.93%, 12/21/28 | 1,271 | 1,275,341 | ||||||||||
Altice Financing SA, USD 2017 1st Lien Term Loan, (3-mo. LIBOR US + 2.75%), 8.33%, 01/31/26(d) | 1,535 | 1,480,856 | ||||||||||
AVSC Holding Corp.(g) | ||||||||||||
2020 Term Loan B1, (1-mo. CME Term SOFR + 3.60%, 0.60% PIK), 8.93%, 03/03/25 | 995 | 995,349 | ||||||||||
2020 Term Loan B3, (5.00% Cash and 10.00% PIK), 15.00%, 10/15/26 | 1,039 | 1,083,125 | ||||||||||
Charter Communications Operating, LLC, 2023 Term Loan B4, (3-mo. CME Term SOFR + 2.00%), 7.33%, 12/07/30 | 1,392 | 1,377,600 | ||||||||||
Clear Channel Outdoor Holdings, Inc., 2024 Term Loan, (1-mo. CME Term SOFR + 4.11%), 9.44%, 08/23/28 | 717 | 715,639 | ||||||||||
CMG Media Corp., 2021 Term Loan, (3-mo. CME Term SOFR + 3.50%), 8.91%, 12/17/26 | — | (i) | 268 | |||||||||
CSC Holdings LLC, 2019 Term Loan B5, (1-mo. LIBOR US + 2.50%), 7.94%, 04/15/27 | 1,524 | 1,369,223 | ||||||||||
DirecTV Financing LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 5.11%), 10.44%, 08/02/27 | 1,005 | 1,004,972 | ||||||||||
Morgan Stanley & Co. International PLC, 2024 CCIBV Fixed Term Loan(d)(h)(j) | 740 | 736,300 | ||||||||||
Radiate Holdco LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.36%), 8.69%, 09/25/26 | 2,528 | 2,109,227 | ||||||||||
Sinclair Television Group, Inc., 2022 Term Loan B4, (1-mo. CME Term SOFR + 3.85%), 9.18%, 04/21/29 | 565 | 448,870 | ||||||||||
Virgin Media Bristol LLC, USD Term Loan N, (1-mo. CME Term SOFR + 2.61%), 7.94%, 01/31/28 | 988 | 972,532 |
SCHEDULE OF INVESTMENTS | 9 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Media (continued) | ||||||||||||
Voyage Digital NZ, USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.99%), 9.32%, 05/11/29(d) | USD | 953 | $ | 953,921 | ||||||||
WMG Acquisition Corp., 2024 Term Loan I, (1-mo. CME Term SOFR + 2.00%), 7.33%, 01/24/31 | 2,970 | 2,962,671 | ||||||||||
Ziggo Financing Partnership, USD Term Loan I, (1-mo. CME Term SOFR + 2.61%), 7.94%, 04/30/28 | 1,617 | 1,592,454 | ||||||||||
|
| |||||||||||
19,554,893 | ||||||||||||
Oil, Gas & Consumable Fuels — 2.5% | ||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3-mo. CME Term SOFR + 3.50%), 9.08%, 12/21/28 | 3,643 | 3,613,596 | ||||||||||
M6 ETX Holdings II Midco LLC, Term Loan B, (1- mo. CME Term SOFR at 0.50% Floor + 4.60%), 9.93%, 09/19/29 | 264 | 263,850 | ||||||||||
Medallion Midland Acquisition LP, 2023 Term Loan, (3-mo. CME Term SOFR + 3.50%), 8.83%, 10/18/28 | 2,143 | 2,145,251 | ||||||||||
Murphy USA, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 1.86%), 7.19%, 01/31/28 | 631 | 632,339 | ||||||||||
New Fortress Energy, Inc., Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 5.00%), 10.32%, 10/27/28 | 1,773 | 1,776,989 | ||||||||||
Oryx Midstream Services Permian Basin LLC, 2024 Term Loan B, (1-mo. CME Term SOFR + 3.11%), 8.44%, 10/05/28 | 3,053 | 3,062,804 | ||||||||||
|
| |||||||||||
11,494,829 | ||||||||||||
Paper & Forest Products — 0.4% | ||||||||||||
Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 1.85%), 7.18%, 09/07/27 | 1,943 | 1,942,681 | ||||||||||
|
| |||||||||||
Passenger Airlines — 2.0% | ||||||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 5.01%), 10.33%, 04/20/28 | 1,390 | 1,442,314 | ||||||||||
Air Canada, 2024 Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.83%, 03/14/31 | 832 | 832,524 | ||||||||||
American Airlines, Inc. | ||||||||||||
2023 1st Lien Term Loan, (6-mo. CME Term SOFR + 3.50%), 8.77%, 06/04/29 | 1,620 | 1,624,050 | ||||||||||
Series AA, 2017 1st Lien Term Loan, (3-mo. CME Term SOFR + 1.85%), 7.07%, 01/29/27 | 269 | 268,787 | ||||||||||
Series AA, 2023 Term Loan B, (3-mo. CME Term SOFR + 3.18%), 8.60%, 02/15/28 | 1,281 | 1,279,825 | ||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 5.40%), 10.73%, 06/21/27 | 2,097 | 2,156,269 | ||||||||||
United Airlines, Inc., 2024 Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.08%, 02/15/31 | 1,422 | 1,421,772 | ||||||||||
WestJet Airlines Ltd., Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.10%), 8.43%, 12/11/26 | 76 | 76,222 | ||||||||||
|
| |||||||||||
9,101,763 |
Security | Par (000) | Value | ||||||||||
Pharmaceuticals — 1.9% | ||||||||||||
Amneal Pharmaceuticals LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 5.50%), 10.83%, 05/04/28 | USD | 1,197 | $ | 1,193,222 | ||||||||
Bausch Health Americas, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 5.35%), 10.68%, 02/01/27 | 1,064 | 828,991 | ||||||||||
Elanco Animal Health, Inc., Term Loan B, (1-mo. CME Term SOFR + 1.85%), 7.18%, 08/01/27 | 1,450 | 1,443,699 | ||||||||||
Jazz Financing Lux SARL, 2024 Term Loan B, (1-mo. CME Term SOFR + 3.11%), 8.44%, 05/05/28 | 2,156 | 2,167,172 | ||||||||||
Option Care Health, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR + 2.86%), 8.19%, 10/27/28 | 692 | 693,415 | ||||||||||
Organon & Co., USD Term Loan, (1-mo. CME Term SOFR + 3.11%), 8.43%, 06/02/28 | 1,404 | 1,408,408 | ||||||||||
Perrigo Investments LLC, Term Loan B, (1-mo. CME Term SOFR + 2.35%), 7.68%, 04/20/29 | 930 | 924,854 | ||||||||||
Prestige Brands, Inc., 2021 Term Loan B5, (1-mo. CME Term SOFR + 2.11%), 7.44%, 07/03/28 | 63 | 63,143 | ||||||||||
|
| |||||||||||
8,722,904 | ||||||||||||
Professional Services — 4.4% | ||||||||||||
AlixPartners LLP, 2021 USD Term Loan B, (1-mo. CME Term SOFR + 2.61%), 7.94%, 02/04/28 | 1,972 | 1,973,997 | ||||||||||
CoreLogic, Inc. | ||||||||||||
2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.61%), 11.94%, 06/04/29 | 1,095 | 1,028,127 | ||||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.61%), 8.94%, 06/02/28 | 3,331 | 3,249,155 | ||||||||||
Dayforce, Inc., Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.83%, 02/26/31 | 1,496 | 1,493,202 | ||||||||||
Dun & Bradstreet Corp., 2024 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.08%, 01/18/29 | 6,301 | 6,297,853 | ||||||||||
Element Materials Technology Group U.S. Holdings, Inc. | ||||||||||||
2022 USD Delayed Draw Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.35%), 9.66%, 07/06/29 | 601 | 600,005 | ||||||||||
2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.35%), 9.66%, 07/06/29 | 1,301 | 1,300,012 | ||||||||||
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1-mo. CME Term SOFR + 1.85%), 7.18%, 04/28/28 | 2,018 | 2,015,801 | ||||||||||
Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.75%), 10.06%, 04/29/29(d) | 928 | 837,942 | ||||||||||
VS Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.35%), 8.58%, 02/28/27 | 1,639 | 1,637,485 | ||||||||||
|
| |||||||||||
20,433,579 | ||||||||||||
Real Estate Management & Development — 0.4% |
| |||||||||||
Cushman & Wakefield U.S. Borrower LLC | ||||||||||||
2020 Term Loan B, (1-mo. CME Term SOFR + 2.86%), 8.19%, 08/21/25 | 68 | 67,809 |
10 |
|
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Real Estate Management & Development (continued) |
| |||||||||||
Cushman & Wakefield U.S. Borrower LLC (continued) | ||||||||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.35%), 8.68%, 01/31/30 | USD | 1,186 | $ | 1,181,058 | ||||||||
2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.33%, 01/31/30(d) | 651 | 652,182 | ||||||||||
|
| |||||||||||
1,901,049 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.5% |
| |||||||||||
MKS Instruments, Inc., 2023 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 08/17/29 | 1,685 | 1,683,119 | ||||||||||
Synaptics, Inc., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.51%), 7.84%, 12/02/28 | 618 | 616,604 | ||||||||||
|
| |||||||||||
2,299,723 | ||||||||||||
Software — 12.8% | ||||||||||||
Applied Systems, Inc., 2024 1st Lien Term Loan, (3-mo. CME Term SOFR + 3.50%), 8.81%, 02/24/31 | 3,474 | 3,493,382 | ||||||||||
Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.81%, 08/15/29 | 631 | 626,306 | ||||||||||
CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME Term SOFR + 2.36%), 7.69%, 09/21/28 | 1,941 | 1,937,794 | ||||||||||
Cloud Software Group, Inc. | ||||||||||||
2022 USD Term Loan B, (3-mo. CME Term SOFR + 4.60%), 9.91%, 03/30/29 | 5,364 | 5,335,763 | ||||||||||
2024 Term Loan, 03/21/31(h) | 1,173 | 1,164,941 | ||||||||||
Cloudera, Inc. | ||||||||||||
2021 Second Lien Term Loan, (1-mo. CME Term SOFR + 6.10%), 11.43%, 10/08/29 | 780 | 772,200 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.85%), 9.18%, 10/08/28 | 855 | 850,729 | ||||||||||
Delta TopCo, Inc., 2020 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.62%, 12/01/28 | 385 | 385,481 | ||||||||||
E2open LLC, 2020 Term Loan B, (1-mo. CME Term SOFR + 3.61%), 8.94%, 02/04/28 | 281 | 280,731 | ||||||||||
Ellucian Holdings, Inc. | ||||||||||||
2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 8.10%), 13.43%, 10/09/28 | 1,733 | 1,733,452 | ||||||||||
2024 Term Loan B, (1-mo. CME Term SOFR + 3.60%), 8.93%, 10/09/29 | 2,836 | 2,846,935 | ||||||||||
Genesys Cloud Services Holdings II LLC | ||||||||||||
Term Loan B, (1-mo. CME Term SOFR + 3.86%), 9.19%, 12/01/27 | 1,262 | 1,265,950 | ||||||||||
2020 USD Term Loan B4, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.19%, 12/01/27 | 3,242 | 3,249,083 | ||||||||||
Helios Software Holdings, Inc., 2024 Term Loan, (3-mo. CME Term SOFR + 3.75%), 9.07%, 07/18/30 | 1,293 | 1,278,787 | ||||||||||
Informatica LLC, 2021 USD Term Loan B, (1-mo. CME Term SOFR + 2.86%), 8.19%, 10/27/28 | 3,030 | 3,028,962 | ||||||||||
McAfee Corp., 2022 USD Term Loan B, (1-mo. CME Term SOFR + 3.85%), 9.18%, 03/01/29 | 3,033 | 3,023,213 | ||||||||||
MH Sub I LLC | ||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 6.25%), 11.58%, 02/23/29 | 1,521 | 1,459,734 |
Security | Par (000) | Value | ||||||||||
Software (continued) | ||||||||||||
MH Sub I LLC (continued) | ||||||||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.58%, 05/03/28 | USD | 2,717 | $ | 2,697,502 | ||||||||
Playtika Holding Corp., 2021 Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.19%, 03/13/28 | 1,485 | 1,484,711 | ||||||||||
Polaris Newco LLC, USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.26%), 9.57%, 06/02/28 | 4,592 | 4,545,487 | ||||||||||
Proofpoint, Inc., 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.36%), 8.69%, 08/31/28 | 3,273 | 3,273,119 | ||||||||||
RealPage, Inc. | ||||||||||||
1st Lien Term Loan, (1-mo. CME Term SOFR + 3.11%), 8.44%, 04/24/28 | 6,145 | 5,974,755 | ||||||||||
2nd Lien Term Loan, (1-mo. CME Term SOFR + 6.61%), 11.94%, 04/23/29 | 2,745 | 2,715,422 | ||||||||||
Severin Acquisition LLC, 2018 Term Loan B, (3-mo. CME Term SOFR + 3.25%), 8.31%, 08/01/27 | 1,289 | 1,290,764 | ||||||||||
UKG, Inc. | ||||||||||||
2021 2nd Lien Term Loan, (3-mo. CME Term SOFR + 5.35%), 10.68%, 05/03/27 | 919 | 925,079 | ||||||||||
2024 Term Loan B, (3-mo. CME Term SOFR + 3.50%), 8.81%, 02/10/31 | 2,899 | 2,912,964 | ||||||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (1-mo. CME Term SOFR + 5.11%), 10.44%, 09/01/25 | 805 | 742,422 | ||||||||||
Voyage Australia Pty. Ltd., USD Term Loan B, (3-mo. CME Term SOFR + 3.76%), 9.08%, 07/20/28 | 233 | 233,771 | ||||||||||
|
| |||||||||||
59,529,439 | ||||||||||||
Specialty Retail — 1.3% | ||||||||||||
CD&R Firefly Bidco Ltd., 2023 GBP Term Loan B5, (3-mo. SONIA + 6.11%), 11.29%, 06/21/28 | GBP | 1,000 | 1,258,098 | |||||||||
EG America LLC, 2021 Term Loan, (3-mo. SOFR OIS CMPD + 4.68%), 9.99%, 03/31/26 | USD | 282 | 280,985 | |||||||||
PetSmart LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.85%), 9.18%, 02/11/28 | 3,635 | 3,622,700 | ||||||||||
Restoration Hardware, Inc., 2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.35%), 8.68%, 10/20/28 | 855 | 837,701 | ||||||||||
|
| |||||||||||
5,999,484 | ||||||||||||
Textiles, Apparel & Luxury Goods — 0.4% | ||||||||||||
Crocs, Inc., 2024 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.56%, 02/20/29 | 664 | 665,395 | ||||||||||
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (1-mo. CME Term SOFR + 3.36%), 8.69%, 11/24/28 | 690 | 687,385 | ||||||||||
Hanesbrands, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.08%, 03/08/30 | 516 | 515,145 | ||||||||||
|
| |||||||||||
1,867,925 | ||||||||||||
Trading Companies & Distributors — 1.3% | ||||||||||||
Core & Main LP | ||||||||||||
2021 Term Loan B, (3-mo. CME Term SOFR + 2.60%), 7.97%, 07/27/28 | 4,047 | 4,038,590 | ||||||||||
2024 Incremental Term Loan B, (3-mo. CME Term SOFR + 2.25%), 7.56%, 02/09/31 | 791 | 788,034 |
SCHEDULE OF INVESTMENTS | 11 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
| ||||||||||||
Trading Companies & Distributors (continued) |
| |||||||||||
TMK Hawk Parent Corp.(d) | ||||||||||||
2024 PIK Term Loan, (3-mo. CME Term SOFR + 11.00%), 11.00%, 12/15/31 | USD | 52 | $ | 43,375 | ||||||||
2024 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 5.25%), 10.58%, 06/30/29 | 1,648 | 1,409,130 | ||||||||||
|
| |||||||||||
6,279,129 | ||||||||||||
Transportation Infrastructure — 0.6% | ||||||||||||
Apple Bidco LLC | ||||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.86%), 8.19%, 09/22/28 | 1,293 | 1,290,635 | ||||||||||
2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.83%, 09/22/28 | 737 | 739,094 | ||||||||||
OLA Netherlands BV, Term Loan, (1-mo. CME Term SOFR + 6.35%), 11.68%, 12/15/26 | 837 | 831,743 | ||||||||||
|
| |||||||||||
2,861,472 | ||||||||||||
Wireless Telecommunication Services — 1.3% |
| |||||||||||
Altice France SA/France, 2023 USD Term Loan B14, (3-mo. CME Term SOFR + 5.50%), 10.81%, 08/15/28 | 2,286 | 1,807,292 | ||||||||||
GOGO Intermediate Holdings LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.86%), 9.19%, 04/30/28 | 927 | 924,520 | ||||||||||
Iridium Satellite LLC, 2023 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.83%, 09/20/30 | 1,617 | 1,615,161 | ||||||||||
SBA Senior Finance II LLC, 2024 Term Loan B, (1-mo. CME Term SOFR + 2.01%), 7.34%, 01/25/31 | 1,531 | 1,533,781 | ||||||||||
|
| |||||||||||
5,880,754 | ||||||||||||
|
| |||||||||||
Total Floating Rate Loan Interests — 124.5% |
| 580,526,100 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Investment Companies | ||||||||||||
Equity Funds — 0.1% | ||||||||||||
Janus Henderson AAA CLO ETF | 10,000 | 507,400 | ||||||||||
|
| |||||||||||
Fixed Income Funds — 1.6% | ||||||||||||
Invesco Senior Loan ETF | 224,300 | 4,743,945 | ||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF(k) | 5,000 | 212,750 | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(k) | 30,000 | 2,331,900 | ||||||||||
|
| |||||||||||
7,288,595 | ||||||||||||
|
| |||||||||||
Total Investment Companies — 1.7% | 7,795,995 | |||||||||||
|
|
Security | Benefical Interest (000) | Value | ||||||||||
| ||||||||||||
Other Interests | ||||||||||||
Capital Markets — 0.0% | ||||||||||||
Millennium Lender Claim Trust(d)(l) | USD | 1,607 | $ | — | ||||||||
|
| |||||||||||
Industrial Conglomerates — 0.0% | ||||||||||||
Millennium Corp. Claim(d)(l) | 1,508 | — | ||||||||||
|
| |||||||||||
Total Other Interests — 0.0% | — | |||||||||||
|
| |||||||||||
Shares | ||||||||||||
Warrants | ||||||||||||
Consumer Discretionary — 0.0% | ||||||||||||
Service King (Carnelian Point), (Exercisable 01/14/23, 1 Share for 1 Warrant, 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 | 19,540 | |||||||||
|
| |||||||||||
Total Warrants — 0.0% | 19,540 | |||||||||||
|
| |||||||||||
Total Investments — 129.6% | 604,327,176 | |||||||||||
Liabilities in Excess of Other Assets — (29.6)% |
| (138,099,347 | ) | |||||||||
|
| |||||||||||
Net Assets — 100.0% | $ | 466,227,829 | ||||||||||
|
|
(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 $521,497, representing 0.1% of its net assets as of period end, and an original cost of $822,715. |
(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) | Perpetual security with no stated maturity date. |
(k) | Affiliate of the Fund. |
(l) | Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.
12 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended March 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 12/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class(a) | $ | — | $ | 14,599,047 | $ | (14,599,047 | ) | $ | — | $ | — | $ | — | — | $ | 2,947 | $ | — | ||||||||||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF | 211,100 | — | — | — | 1,650 | 212,750 | 5,000 | 2,311 | — | |||||||||||||||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | 2,708,650 | — | (385,757 | ) | 6,297 | 2,710 | 2,331,900 | 30,000 | 26,581 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 6,297 | $ | 4,360 | $ | 2,544,650 | $ | 31,839 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | As of period end, the entity is no longer held. |
Derivative Financial Instruments Outstanding as of Period End
Forward Foreign Currency Exchange Contracts
| ||||||||||||||||||||
Unrealized (Depreciation) | ||||||||||||||||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | |||||||||||||||||
| ||||||||||||||||||||
USD | 152,660 | EUR | 139,720 | Toronto-Dominion Bank | 06/20/24 | $ | 1,447 | |||||||||||||
USD | 228,990 | EUR | 209,581 | Toronto-Dominion Bank | 06/20/24 | 2,170 | ||||||||||||||
USD | 373,665 | EUR | 341,699 | UBS AG | 06/20/24 | 3,859 | ||||||||||||||
USD | 1,121,014 | GBP | 880,000 | HSBC Bank PLC | 06/20/24 | 9,864 | ||||||||||||||
|
| |||||||||||||||||||
$ | 17,340 | |||||||||||||||||||
|
|
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.V3 | 5.00 | % | Quarterly | 12/20/27 | B- | USD 4,435 | $ | 334,784 | $ | (52,782 | ) | $ | 387,566 | |||||||||||||||||||||||||||
CDX.NA.HY.40.V2 | 5.00 | Quarterly | 06/20/28 | B- | USD 4,440 | 336,970 | 103,808 | 233,162 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
$ | 671,754 | $ | 51,026 | $ | 620,728 | |||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
(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 Total Return Swaps
| ||||||||||||||||||||||||||||||||||||||
Paid by the Fund | Received by the Fund |
Upfront Premium Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||||||||||
Rate/Reference | Frequency | Rate/Reference | Frequency | Counterparty | Effective Date | Termination Date | Notional Amount (000) | Value | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
| 1-Day SOFR, 5.34% | Quarterly | Markit iBoxx USD Liquid Leveraged Loan Index | Quarterly | JPMorgan Chase Bank N.A. | N/A | 06/20/24 | USD | 4,000 | $ | 10,214 | $ | (49,946 | ) | $ | 60,160 | ||||||||||||||||||||||
|
|
|
|
|
|
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 |
SCHEDULE OF INVESTMENTS | 13 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) |
Fair Value Hierarchy as of Period End (continued)
• | 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 | $ | — | $ | 6,099,521 | $ | — | $ | 6,099,521 | ||||||||
Common Stocks | ||||||||||||||||
Construction & Engineering | — | 24,787 | — | 24,787 | ||||||||||||
Electrical Equipment | 5,580 | — | — | 5,580 | ||||||||||||
Energy Equipment & Services | — | — | — | — | ||||||||||||
Entertainment | — | — | 319,741 | 319,741 | ||||||||||||
Financial Services | — | 334,202 | 854,969 | 1,189,171 | ||||||||||||
Health Care Providers & Services | — | 201,756 | — | 201,756 | ||||||||||||
Oil, Gas & Consumable Fuels | — | — | 3,098 | 3,098 | ||||||||||||
Semiconductors & Semiconductor Equipment | 773 | — | — | 773 | ||||||||||||
Trading Companies & Distributors | — | — | 194,159 | 194,159 | ||||||||||||
Corporate Bonds | — | 7,946,955 | — | 7,946,955 | ||||||||||||
Floating Rate Loan Interests | — | 563,191,782 | 17,334,318 | 580,526,100 | ||||||||||||
Investment Companies | 7,795,995 | — | — | 7,795,995 | ||||||||||||
Other Interests | — | — | — | — | ||||||||||||
Warrants | 19,540 | — | — | 19,540 | ||||||||||||
Unfunded Floating Rate Loan Interests(a) | — | 561 | 727 | 1,288 | ||||||||||||
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$ | 7,821,888 | $ | 577,799,564 | $ | 18,707,012 | $ | 604,328,464 | |||||||||
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Derivative Financial Instruments(b) | ||||||||||||||||
Assets | ||||||||||||||||
Credit Contracts | $ | — | $ | 620,728 | $ | — | $ | 620,728 | ||||||||
Foreign Currency Exchange Contracts | — | 17,340 | — | 17,340 | ||||||||||||
Interest Rate Contracts | — | 60,160 | — | 60,160 | ||||||||||||
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$ | — | $ | 698,228 | $ | — | $ | 698,228 | |||||||||
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(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:
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Common Stocks | Corporate Bonds | Floating Rate Loan Interests | Other Interests | Unfunded Floating Rate Loan Interests | Total | |||||||||||||||||||
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Assets | ||||||||||||||||||||||||
Opening balance, as of December 31, 2023 | $ | 470,246 | $ | 43,313 | $ | 18,152,176 | $ — | (a) | $ | 970 | $ | 18,666,705 | ||||||||||||
Transfers into Level 3(b) | — | — | 3,637,953 | — | — | 3,637,953 | ||||||||||||||||||
Transfers out of Level 3(c) | (178,020 | ) | (43,313 | ) | (7,292,920 | ) | — | — | (7,514,253 | ) | ||||||||||||||
Accrued discounts/premiums | — | — | 43,590 | — | — | 43,590 | ||||||||||||||||||
Net realized gain (loss) | — | — | (1,021,439 | ) | — | — | (1,021,439 | ) | ||||||||||||||||
Net change in unrealized appreciation (depreciation)(d) | (261,130 | ) | — | 1,177,148 | — | (243 | ) | 915,775 |
14 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) |
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Common Stocks | Corporate Bonds | Floating Rate Loan Interests | Other Interests | Unfunded Floating Rate Loan Interests | Total | |||||||||||||||||||
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Purchases | $ | 1,340,871 | $ | — | $ | 10,541,253 | $ | — | $ | — | $ | 11,882,124 | ||||||||||||
Sales | — | — | (7,903,443 | ) | — | — | (7,903,443 | ) | ||||||||||||||||
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Closing balance, as of March 31, 2024 | $ | 1,371,967 | $ | — | $ | 17,334,318 | $ | — | (a) | $ | 727 | $ | 18,707,012 | |||||||||||
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Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2024(d) | $ | (261,130 | ) | $ | — | $ | 194,347 | $ | — | $ | (243 | ) | $ | (67,026 | ) | |||||||||
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(a) | Rounds to less than $1. |
(b) | As of December 31, 2023, the Fund used observable inputs in determining the value of certain investments. As of March 31, 2024, 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, 2023, the Fund used significant unobservable inputs in determining the value of certain investments. As of March 31, 2024, 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, 2024 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 | ||
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 | |
SONIA | Sterling Overnight Interbank Average Rate |
SCHEDULE OF INVESTMENTS | 15 |