BlackRock Enhanced Capital and Income Fund (CII) NPORT-P BlackRock Enhanced Capital and Income Fund, Inc. (Sep 2020 report)

Schedule of Investments  (unaudited) September 30, 2020 BlackRock Enhanced Capital and Income Fund, Inc. (CII) (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Aerospace & Defense — 1.1%
BAE Systems PLC, ADR		329,812	$	8,261,791
Automobiles — 1.6%
General Motors Co.		420,660		12,447,329
Banks — 4.1%
Bank of America Corp.(a)		467,485		11,261,714
JPMorgan Chase & Co.		135,043		13,000,589
U.S. Bancorp		182,609		6,546,533
				30,808,836
Beverages — 1.7%
Coca-Cola Co.		256,576		12,667,157
Biotechnology — 1.2%
Biogen, Inc.(b)		32,103		9,106,979
Capital Markets — 1.4%
E*TRADE Financial Corp.		100,060		5,008,003
Raymond James Financial, Inc.		72,138		5,248,761
				10,256,764
Chemicals — 3.0%
Axalta Coating Systems Ltd.(b)		351,445		7,791,536
Corteva, Inc.		504,892		14,545,938
				22,337,474
Communications Equipment — 1.9%
Cisco Systems, Inc.		361,489		14,239,052
Construction & Engineering — 2.0%
Quanta Services, Inc.		292,572		15,465,356
Diversified Financial Services — 3.7%
Ally Financial, Inc.		291,870		7,317,181
Berkshire Hathaway, Inc., Class B(b)		96,278		20,501,437
				27,818,618
Electrical Equipment — 0.5%
Hubbell, Inc.		28,093		3,844,246
Food & Staples Retailing — 1.6%
Walmart, Inc.		85,517		11,964,683
Health Care Equipment & Supplies — 1.2%
Koninklijke Philips NV, NY Shares(b)		185,969		8,768,438
Health Care Providers & Services — 5.8%
Anthem, Inc.		44,960		12,075,806
Laboratory Corp. of America Holdings(b)		64,585		12,159,418
UnitedHealth Group, Inc.		63,380		19,759,983
				43,995,207
Independent Power and Renewable Electricity Producers — 0.3%
AES Corp		129,268		2,341,043
Insurance — 0.8%
Fidelity National Financial, Inc.		143,967		4,507,607
Reinsurance Group of America, Inc.		18,136		1,726,366
				6,233,973
Interactive Media & Services(b) — 8.3%
Alphabet, Inc., Class A(a)		25,418		37,252,621
Facebook, Inc., Class A(c)		98,439		25,781,174
				63,033,795

Security	Shares		Value
Internet & Direct Marketing Retail(b) — 6.4%
Alibaba Group Holding Ltd., ADR		41,796	$	12,287,188
Amazon.com, Inc.		11,377		35,823,101
				48,110,289
IT Services — 6.3%
Cognizant Technology Solutions Corp., Class A		207,147		14,380,145
FleetCor Technologies, Inc.(b)		45,524		10,839,264
Visa, Inc., Class A(a)		110,736		22,143,878
				47,363,287
Machinery — 2.5%
Fortive Corp.		135,163		10,300,772
Otis Worldwide Corp.		141,307		8,820,383
				19,121,155
Media — 3.8%
Comcast Corp., Class A		414,267		19,163,992
Fox Corp., Class A		350,105		9,743,422
				28,907,414
Multiline Retail — 2.9%
Dollar General Corp.		32,510		6,814,746
Dollar Tree, Inc.(b)		163,332		14,918,745
				21,733,491
Oil, Gas & Consumable Fuels — 2.3%
BP PLC, ADR		264,399		4,616,407
Chevron Corp.		99,673		7,176,456
ConocoPhillips		179,997		5,911,101
				17,703,964
Personal Products — 2.0%
Unilever NV, NY Shares		246,508		14,889,083
Pharmaceuticals — 4.0%
Novo Nordisk A/S, ADR		99,583		6,914,048
Pfizer, Inc.		291,662		10,703,995
Sanofi, ADR		246,222		12,352,958
				29,971,001
Professional Services — 1.2%
Robert Half International, Inc.		166,203		8,798,787
Real Estate Management & Development — 1.0%
CBRE Group, Inc., Class A(b)		157,789		7,411,349
Road & Rail — 1.6%
Norfolk Southern Corp.		57,720		12,351,503
Semiconductors & Semiconductor Equipment — 4.0%
Applied Materials, Inc.		206,050		12,249,672
NXP Semiconductors NV		33,259		4,151,056
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		173,365		14,054,701
				30,455,429
Software — 7.9%
CDK Global, Inc.		195,424		8,518,532
Microsoft Corp.(a)		244,021		51,324,937
				59,843,469
Specialty Retail — 3.5%
Lowe’s Cos., Inc.		52,873		8,769,516
O’Reilly Automotive, Inc.(b)		17,941		8,272,236
Ross Stores, Inc.		101,873		9,506,788
				26,548,540
Technology Hardware, Storage & Peripherals — 7.6%
Apple, Inc.(a)(c)		495,387		57,370,769

SCHEDULE OF INVESTMENTS 1

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Enhanced Capital and Income Fund, Inc. (CII) (Percentages shown are based on Net Assets)

Security	Shares		Value
Textiles, Apparel & Luxury Goods — 0.6%
Skechers USA, Inc., Class A(b)		155,175	$	4,689,389
Tobacco — 1.4%
Altria Group, Inc.(a)		276,975		10,702,314
Wireless Telecommunication Services — 0.7%
Vodafone Group PLC, ADR		401,512		5,388,291
Total Long-Term Investments — 99.9% (Cost: $554,285,544)				754,950,265
Short-Term Securities
Money Market Funds — 1.2%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.02%(d)(e) ,		8,949,424		8,949,424
Total Short-Term Securities — 1.2% (Cost: $8,949,424)				8,949,424
Total Investments Before Options Written — 101.1% (Cost: $563,234,968)				763,899,689
Options Written — (1.2)% (Premiums Received: $(12,885,777))				(8,652,925	)
Total Investments, Net of Options Written — 99.9% (Cost: $550,349,191)				755,246,764
Other Assets Less Liabilities — 0.1%				603,889
Net Assets — 100.0%			$	755,850,653

^(a) All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written.

^(b) Non-income producing security.

^(c) All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives.

^(d) Affiliate of the Trust.

^(e) Annualized 7-day yield as of period end.

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 2020, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 12/31/19		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 09/30/20		Shares Held at 09/30/20		Income		Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class	$	4,423,595	$	4,525,829	(a)	$	—	$	—	$	—	$	8,949,424		8,949,424	$	21,702	$	—

^(a) Represents net amount purchased (sold).

For Trust compliance purposes, the Trust’s sector classifications refer to one or more of the sector 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 sector sub-classifications for reporting ease.

Derivative Financial Instruments Outstanding as of Period End

Exchange-Traded Options Written

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call
Unilever NV, NY Shares		107		10/01/20	USD	61.87	USD	646	$	(12	)
Alibaba Group Holding Ltd., ADR		115		10/02/20	USD	275.00	USD	3,381		(220,800	)
Amazon.com, Inc.		14		10/02/20	USD	3,250.00	USD	4,408		(8,365	)
Anthem, Inc.		13		10/02/20	USD	287.50	USD	349		(1,170	)
Bank of America Corp.		175		10/02/20	USD	26.50	USD	422		(175	)
Berkshire Hathaway, Inc., Class B		168		10/02/20	USD	215.00	USD	3,577		(10,416	)
Biogen, Inc.		56		10/02/20	USD	287.50	USD	1,589		(7,560	)
BP PLC, ADR		77		10/02/20	USD	23.50	USD	134		(539	)
Coca-Cola Co.		307		10/02/20	USD	49.50	USD	1,516		(9,057	)
Cognizant Technology Solutions Corp., Class A		216		10/02/20	USD	69.00	USD	1,499		(19,440	)

2

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Enhanced Capital and Income Fund, Inc. (CII)

Exchange-Traded Options Written (continued)

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
Comcast Corp., Class A		638		10/02/20	USD	44.50	USD	2,951	$	(116,754	)
ConocoPhillips		205		10/02/20	USD	43.00	USD	673		(615	)
Dollar General Corp.		134		10/02/20	USD	202.50	USD	2,809		(98,490	)
Dollar Tree, Inc.		336		10/02/20	USD	98.50	USD	3,069		(2,352	)
E*TRADE Financial Corp.		310		10/02/20	USD	54.50	USD	1,552		(7,750	)
Fox Corp., Class A		78		10/02/20	USD	29.00	USD	217		(780	)
General Motors Co.		73		10/02/20	USD	31.50	USD	216		(183	)
General Motors Co.		119		10/02/20	USD	30.50	USD	352		(1,428	)
Norfolk Southern Corp.		103		10/02/20	USD	217.50	USD	2,204		(12,618	)
NXP Semiconductors NV		121		10/02/20	USD	128.00	USD	1,510		(4,114	)
Ross Stores, Inc.		11		10/02/20	USD	95.50	USD	103		(550	)
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		78		10/02/20	USD	78.50	USD	632		(22,425	)
Visa, Inc., Class A		85		10/02/20	USD	202.50	USD	1,700		(5,525	)
Alphabet, Inc., Class A		48		10/09/20	USD	1,635.00	USD	7,035		(5,040	)
Amazon.com, Inc.		14		10/09/20	USD	3,450.00	USD	4,408		(7,875	)
Apple, Inc.		534		10/09/20	USD	132.50	USD	6,184		(3,738	)
Applied Materials, Inc.		146		10/09/20	USD	64.00	USD	868		(2,701	)
Applied Materials, Inc.		135		10/09/20	USD	61.50	USD	803		(8,438	)
Bank of America Corp.		723		10/09/20	USD	26.50	USD	1,742		(2,531	)
Biogen, Inc.		42		10/09/20	USD	282.50	USD	1,191		(23,100	)
BP PLC, ADR		118		10/09/20	USD	22.04	USD	206		—
Cisco Systems, Inc.		294		10/09/20	USD	43.00	USD	1,158		(441	)
Coca-Cola Co.		307		10/09/20	USD	49.17	USD	1,516		(24,832	)
Cognizant Technology Solutions Corp., Class A		27		10/09/20	USD	67.50	USD	187		(6,953	)
Comcast Corp., Class A		207		10/09/20	USD	45.50	USD	958		(22,459	)
ConocoPhillips		207		10/09/20	USD	39.00	USD	680		(414	)
E*TRADE Financial Corp.		310		10/09/20	USD	55.50	USD	1,552		(7,750	)
Fox Corp., Class A		58		10/09/20	USD	30.00	USD	161		(1,160	)
General Motors Co.		242		10/09/20	USD	31.59	USD	716		(6,218	)
JPMorgan Chase & Co.		198		10/09/20	USD	110.00	USD	1,906		(990	)
Microsoft Corp.		113		10/09/20	USD	232.50	USD	2,377		(848	)
Microsoft Corp.		227		10/09/20	USD	212.50	USD	4,775		(60,495	)
Pfizer, Inc.		212		10/09/20	USD	38.50	USD	778		(2,438	)
Quanta Services, Inc.		782		10/09/20	USD	51.00	USD	4,134		(238,038	)
Ross Stores, Inc.		35		10/09/20	USD	95.50	USD	327		(4,813	)
Skechers USA, Inc., Class A		420		10/09/20	USD	31.50	USD	1,269		(25,200	)
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		236		10/09/20	USD	85.00	USD	1,913		(11,210	)
U.S. Bancorp		272		10/09/20	USD	39.50	USD	975		(3,808	)
Unilever NV, NY Shares		147		10/09/20	USD	58.86	USD	888		(27,453	)
UnitedHealth Group, Inc.		16		10/09/20	USD	315.00	USD	499		(5,848	)
Walmart, Inc.		110		10/09/20	USD	150.00	USD	1,539		(1,760	)
Alibaba Group Holding Ltd., ADR		128		10/16/20	USD	285.00	USD	3,763		(184,960	)
Ally Financial, Inc.		513		10/16/20	USD	26.00	USD	1,286		(39,501	)
Ally Financial, Inc.		508		10/16/20	USD	27.00	USD	1,274		(21,844	)
Altria Group, Inc.		488		10/16/20	USD	45.00	USD	1,886		(1,220	)
Altria Group, Inc.		158		10/16/20	USD	40.50	USD	611		(3,792	)
Amazon.com, Inc.		12		10/16/20	USD	3,400.00	USD	3,778		(29,970	)
Apple, Inc.		732		10/16/20	USD	120.00	USD	8,477		(160,674	)
Axalta Coating Systems Ltd.		509		10/16/20	USD	25.00	USD	1,128		(3,818	)
Bank of America Corp.		353		10/16/20	USD	27.00	USD	850		(2,824	)
Bank of America Corp.		117		10/16/20	USD	28.00	USD	282		(410	)
Berkshire Hathaway, Inc., Class B		12		10/16/20	USD	220.00	USD	256		(1,566	)
Biogen, Inc.		87		10/16/20	USD	295.00	USD	2,468		(20,445	)
Biogen, Inc.		14		10/16/20	USD	285.00	USD	397		(8,120	)
BP PLC, ADR		34		10/16/20	USD	25.00	USD	59		(34	)
BP PLC, ADR		134		10/16/20	USD	23.00	USD	234		(603	)
CBRE Group, Inc., Class A		69		10/16/20	USD	50.00	USD	324		(2,243	)
CDK Global, Inc.		329		10/16/20	USD	50.00	USD	1,434		(23,030	)
Chevron Corp.		138		10/16/20	USD	92.50	USD	994		(828	)
Cisco Systems, Inc.		219		10/16/20	USD	44.00	USD	863		(548	)
Coca-Cola Co.		357		10/16/20	USD	50.00	USD	1,763		(22,312	)
Coca-Cola Co.		240		10/16/20	USD	52.50	USD	1,185		(2,160	)

SCHEDULE OF INVESTMENTS 3

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Enhanced Capital and Income Fund, Inc. (CII)

Exchange-Traded Options Written (continued)

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
Cognizant Technology Solutions Corp., Class A		141		10/16/20	USD	70.00	USD	979	$	(20,445	)
Comcast Corp., Class A		439		10/16/20	USD	45.00	USD	2,031		(71,776	)
ConocoPhillips		197		10/16/20	USD	41.00	USD	647		(3,743	)
Corteva, Inc.		500		10/16/20	USD	30.00	USD	1,441		(17,500	)
Fidelity National Financial, Inc.		520		10/16/20	USD	35.00	USD	1,628		(3,900	)��
Fidelity National Financial, Inc.		67		10/16/20	USD	34.00	USD	210		(838	)
FleetCor Technologies, Inc.		57		10/16/20	USD	260.00	USD	1,357		(5,558	)
Fortive Corp.		223		10/16/20	USD	75.00	USD	1,699		(61,882	)
General Motors Co.		120		10/16/20	USD	33.00	USD	355		(1,980	)
Hubbell, Inc.		99		10/16/20	USD	145.00	USD	1,355		(5,693	)
JPMorgan Chase & Co.		106		10/16/20	USD	105.00	USD	1,020		(4,240	)
Koninklijke Philips NV, NY Shares		445		10/16/20	USD	50.00	USD	2,098		(13,350	)
Laboratory Corp. of America Holdings		202		10/16/20	USD	190.00	USD	3,803		(67,165	)
Microsoft Corp.		142		10/16/20	USD	230.00	USD	2,987		(6,035	)
Novo Nordisk A/S, Class B		310		10/16/20	USD	72.50	USD	2,152		(11,625	)
O’Reilly Automotive, Inc.		55		10/16/20	USD	480.00	USD	2,536		(28,600	)
Otis Worldwide Corp.		266		10/16/20	USD	65.13	USD	1,660		(16,316	)
Pfizer, Inc.		389		10/16/20	USD	37.00	USD	1,428		(27,035	)
Raymond James Financial, Inc.		191		10/16/20	USD	77.50	USD	1,390		(10,505	)
Robert Half International, Inc.		515		10/16/20	USD	55.00	USD	2,726		(32,187	)
Ross Stores, Inc.		174		10/16/20	USD	95.00	USD	1,624		(39,585	)
Sanofi, ADR		1,249		10/16/20	USD	50.00	USD	6,266		(159,247	)
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		61		10/16/20	USD	80.00	USD	495		(21,655	)
U.S. Bancorp		209		10/16/20	USD	40.00	USD	749		(2,822	)
Unilever NV, NY Shares		242		10/16/20	USD	62.50	USD	1,462		(6,050	)
Visa, Inc., Class A		93		10/16/20	USD	210.00	USD	1,860		(8,928	)
Walmart, Inc.		157		10/16/20	USD	150.00	USD	2,197		(5,966	)
Alphabet, Inc., Class A		31		10/23/20	USD	1,535.00	USD	4,543		(55,645	)
Alphabet, Inc., Class A		52		10/23/20	USD	1,510.00	USD	7,621		(138,320	)
Altria Group, Inc.		364		10/23/20	USD	45.00	USD	1,407		(3,640	)
Altria Group, Inc.		158		10/23/20	USD	40.50	USD	611		(5,767	)
Anthem, Inc.		77		10/23/20	USD	280.00	USD	2,068		(33,880	)
Apple, Inc.		1,036		10/23/20	USD	121.00	USD	11,998		(270,914	)
Applied Materials, Inc.		358		10/23/20	USD	58.50	USD	2,128		(102,925	)
Bank of America Corp.		90		10/23/20	USD	27.00	USD	217		(1,215	)
Bank of America Corp.		142		10/23/20	USD	26.50	USD	342		(2,698	)
BP PLC, ADR		266		10/23/20	USD	21.00	USD	464		(1,064	)
CBRE Group, Inc., Class A		214		10/23/20	USD	47.00	USD	1,005		(32,189	)
Chevron Corp.		91		10/23/20	USD	83.00	USD	655		(2,002	)
Cisco Systems, Inc.		113		10/23/20	USD	41.50	USD	445		(2,034	)
Coca-Cola Co.		105		10/23/20	USD	51.50	USD	518		(4,935	)
Cognizant Technology Solutions Corp., Class A		73		10/23/20	USD	72.00	USD	507		(9,125	)
Comcast Corp., Class A		42		10/23/20	USD	46.00	USD	194		(5,187	)
ConocoPhillips		410		10/23/20	USD	36.50	USD	1,346		(14,145	)
Dollar Tree, Inc.		578		10/23/20	USD	95.00	USD	5,279		(77,452	)
Facebook, Inc., Class A		81		10/23/20	USD	270.00	USD	2,121		(49,207	)
General Motors Co.		91		10/23/20	USD	36.00	USD	269		(819	)
General Motors Co.		178		10/23/20	USD	33.00	USD	527		(4,984	)
JPMorgan Chase & Co.		125		10/23/20	USD	103.00	USD	1,203		(11,688	)
Lowe’s Cos., Inc.		174		10/23/20	USD	170.00	USD	2,886		(55,767	)
Microsoft Corp.		135		10/23/20	USD	232.50	USD	2,839		(12,488	)
Microsoft Corp.		227		10/23/20	USD	212.50	USD	4,775		(128,822	)
Pfizer, Inc.		390		10/23/20	USD	38.00	USD	1,431		(22,620	)
Ross Stores, Inc.		120		10/23/20	USD	97.00	USD	1,120		(23,400	)
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		231		10/23/20	USD	83.00	USD	1,873		(62,601	)
U.S. Bancorp		149		10/23/20	USD	37.50	USD	534		(10,952	)
UnitedHealth Group, Inc.		62		10/23/20	USD	317.50	USD	1,933		(41,850	)
Walmart, Inc.		131		10/23/20	USD	139.00	USD	1,833		(51,090	)
Corteva, Inc.		203		10/28/20	USD	30.50	USD	585		(14,131	)
Alibaba Group Holding Ltd., ADR		8		10/30/20	USD	272.50	USD	235		(21,080	)
Altria Group, Inc.		391		10/30/20	USD	44.00	USD	1,511		(5,670	)
Altria Group, Inc.		158		10/30/20	USD	40.50	USD	611		(9,164	)

4

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Enhanced Capital and Income Fund, Inc. (CII)

Exchange-Traded Options Written (continued)

Description	Number of Contracts			Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
Amazon.com, Inc.		31			10/30/20	USD	3,335.00	USD	9,761	$	(300,700	)
Anthem, Inc.		67			10/30/20	USD	267.50	USD	1,800		(79,730	)
Apple, Inc.		769			10/30/20	USD	120.00	USD	8,906		(307,600	)
Bank of America Corp.		456			10/30/20	USD	26.50	USD	1,099		(12,996	)
BP PLC, ADR		182			10/30/20	USD	21.00	USD	318		(1,456	)
Chevron Corp.		91			10/30/20	USD	80.00	USD	655		(7,553	)
Cisco Systems, Inc.		304			10/30/20	USD	40.50	USD	1,197		(17,480	)
Coca-Cola Co.		217			10/30/20	USD	50.00	USD	1,071		(25,172	)
Comcast Corp., Class A		374			10/30/20	USD	47.50	USD	1,730		(38,522	)
Dollar General Corp.		88			10/30/20	USD	205.00	USD	1,845		(68,200	)
Facebook, Inc., Class A		130			10/30/20	USD	267.50	USD	3,405		(137,475	)
Fox Corp., Class A		476			10/30/20	USD	27.50	USD	1,325		(67,830	)
General Motors Co.		401			10/30/20	USD	33.50	USD	1,187		(13,233	)
JPMorgan Chase & Co.		116			10/30/20	USD	96.50	USD	1,117		(40,020	)
Lowe’s Cos., Inc.		174			10/30/20	USD	170.00	USD	2,886		(67,425	)
Microsoft Corp.		131			10/30/20	USD	207.50	USD	2,755		(120,847	)
Ross Stores, Inc.		115			10/30/20	USD	92.50	USD	1,073		(54,625	)
Ross Stores, Inc.		176			10/30/20	USD	94.50	USD	1,642		(82,720	)
Skechers USA, Inc., Class A		410			10/30/20	USD	32.50	USD	1,239		(60,475	)
U.S. Bancorp		151			10/30/20	USD	37.50	USD	541		(14,194	)
UnitedHealth Group, Inc.		8			10/30/20	USD	322.50	USD	249		(4,800	)
Visa, Inc., Class A		20			10/30/20	USD	207.50	USD	400		(6,870	)
Vodafone Group PLC, ADR		386			10/30/20	USD	14.00	USD	518		(10,036	)
Walmart, Inc.		132			10/30/20	USD	144.00	USD	1,847		(32,010	)
Applied Materials, Inc.		63			11/06/20	USD	60.00	USD	375		(17,262	)
Chevron Corp.		90			11/06/20	USD	75.50	USD	648		(22,185	)
Cisco Systems, Inc.		222			11/06/20	USD	40.50	USD	874		(18,093	)
Dollar Tree, Inc.		100			11/06/20	USD	95.00	USD	913		(23,500	)
Facebook, Inc., Class A		317			11/06/20	USD	270.00	USD	8,302		(386,740	)
General Motors Co.		248			11/06/20	USD	31.29	USD	734		(23,144	)
JPMorgan Chase & Co.		96			11/06/20	USD	100.00	USD	924		(27,408	)
Microsoft Corp.		237			11/06/20	USD	217.50	USD	4,985		(166,492	)
Norfolk Southern Corp.		127			11/06/20	USD	220.00	USD	2,718		(87,630	)
Pfizer, Inc.		817			11/06/20	USD	38.00	USD	2,998		(82,517	)
U.S. Bancorp		201			11/06/20	USD	38.00	USD	721		(21,708	)
Visa, Inc., Class A		20	��		11/06/20	USD	210.00	USD	400		(7,950	)
Vodafone Group PLC, ADR		386			11/06/20	USD	14.00	USD	518		(23,546	)
Comcast Corp., Class A		868			11/09/20	USD	46.89	USD	4,015		(76,156	)
Alibaba Group Holding Ltd., ADR		8			11/20/20	USD	280.00	USD	235		(20,920	)
Alphabet, Inc., Class A		26			11/20/20	USD	1,525.00	USD	3,811		(154,830	)
Applied Materials, Inc.		19			11/20/20	USD	62.50	USD	113		(5,130	)
Axalta Coating Systems Ltd.		721			11/20/20	USD	26.00	USD	1,598		(30,642	)
Bank of America Corp.		164			11/20/20	USD	26.00	USD	395		(12,382	)
BP PLC, ADR		114			11/20/20	USD	21.00	USD	199		(1,824	)
CBRE Group, Inc., Class A		55			11/20/20	USD	55.00	USD	258		(2,475	)
CBRE Group, Inc., Class A		210			11/20/20	USD	50.00	USD	986		(32,550	)
CDK Global, Inc.		353			11/20/20	USD	45.00	USD	1,539		(67,070	)
Chevron Corp.		117			11/20/20	USD	92.50	USD	842		(2,750	)
Chevron Corp.		90			11/20/20	USD	80.00	USD	648		(12,825	)
Cisco Systems, Inc.		113			11/20/20	USD	42.00	USD	445		(9,153	)
Cognizant Technology Solutions Corp., Class A		268			11/20/20	USD	70.00	USD	1,860		(95,140	)
ConocoPhillips		96			11/20/20	USD	36.00	USD	315		(10,800	)
Corteva, Inc.		203			11/20/20	USD	32.00	USD	585		(13,195	)
Facebook, Inc., Class A		82			11/20/20	USD	290.00	USD	2,148		(62,320	)
Fidelity National Financial, Inc.		230			11/20/20	USD	35.00	USD	720		(11,500	)
FleetCor Technologies, Inc.		87			11/20/20	USD	250.00	USD	2,071		(78,735	)
Fortive Corp.		250			11/20/20	USD	80.00	USD	1,905		(61,875	)
Hubbell, Inc.		99			11/20/20	USD	145.00	USD	1,355		(38,857	)
Koninklijke Philips NV, NY Shares		567			11/20/20	USD	50.00	USD	2,673		(65,205	)
Laboratory Corp. of America Holdings		198			11/20/20	USD	195.00	USD	3,728		(138,600	)
Microsoft Corp.		300			11/20/20	USD	220.00	USD	6,310		(213,750	)
Norfolk Southern Corp.		127			11/20/20	USD	220.00	USD	2,718		(105,410	)

SCHEDULE OF INVESTMENTS 5

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Enhanced Capital and Income Fund, Inc. (CII)

Exchange-Traded Options Written (continued)

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
Novo Nordisk A/S, Class B		307		11/20/20	USD	70.00	USD	2,132	$	(82,122	)
O’Reilly Automotive, Inc.		55		11/20/20	USD	490.00	USD	2,536		(61,325	)
Otis Worldwide Corp.		610		11/20/20	USD	65.00	USD	3,808		(134,200	)
Quanta Services, Inc.		301		11/20/20	USD	55.00	USD	1,591		(65,467	)
Raymond James Financial, Inc.		151		11/20/20	USD	77.50	USD	1,099		(36,240	)
Robert Half International, Inc.		515		11/20/20	USD	55.00	USD	2,726		(115,875	)
Sanofi, ADR		277		11/20/20	USD	52.76	USD	1,390		(34,371	)
Skechers USA, Inc., Class A		130		11/20/20	USD	34.00	USD	393		(20,800	)
U.S. Bancorp		150		11/20/20	USD	37.50	USD	538		(23,400	)
Unilever NV, NY Shares		107		11/20/20	USD	62.50	USD	646		(12,305	)
UnitedHealth Group, Inc.		135		11/20/20	USD	310.00	USD	4,209		(228,487	)
Visa, Inc., Class A		173		11/20/20	USD	215.00	USD	3,459		(58,387	)
Vodafone Group PLC, ADR		386		11/20/20	USD	15.00	USD	518		(9,457	)
									$	(8,219,341	)

OTC Options Written

Description	Counterparty	Number of Contracts		Expiration Date		Exercise Price			Notional Amount (000)			Value
Call
BAE Systems PLC, ADR	JPMorgan Chase Bank N.A.		22,700		10/02/20		USD	28.90		USD	569	$	—
BAE Systems PLC, ADR	Credit Suisse International		62,600		10/20/20		USD	27.50		USD	1,568		(6,384	)
BAE Systems PLC, ADR	Goldman Sachs International		12,800		10/27/20		USD	27.67		USD	321		(1,854	)
Koninklijke Philips NV, NY Shares	Citibank N.A.		29,000		10/27/20		USD	48.93		USD	1,367		(25,120	)
AES Corp.	Citibank N.A.		41,450		11/05/20		USD	18.23		USD	751		(32,035	)
AES Corp.	Citibank N.A.		83,550		11/10/20		USD	18.23		USD	1,513		(69,562	)
Corteva, Inc.	Goldman Sachs International		86,100		11/13/20		USD	30.51		USD	2,480		(81,913	)
Quanta Services, Inc.	JPMorgan Chase Bank N.A.		73,000		11/13/20		USD	52.75		USD	3,859		(172,005	)
Unilever NV, NY Shares	Bank of America N.A.		25,900		11/16/20		USD	61.75		USD	1,564		(44,711	)
												$	(433,584	)

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 Trust 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)

• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

6

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Enhanced Capital and Income Fund, Inc. (CII)

Fair Value Hierarchy as of Period End (continued)

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy. The breakdown of the Trust’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1			Level 2			Level 3		Total
Assets
Investments
Long-Term Investments
Common Stocks	$	754,950,265		$	—		$	—	$	754,950,265
Short-Term Securities
Money Market Funds		8,949,424			—			—		8,949,424
	$	763,899,689		$	—		$	—	$	763,899,689
Derivative Financial Instruments(a)
Liabilities
Equity Contracts	$	(7,726,481	)	$	(926,444	)	$	—	$	(8,652,925	)

^(a)  Derivative financial instruments are options written. Options written are shown at value.

Currency Abbreviation
USD	United States Dollar

Portfolio Abbreviation
ADR	American Depositary Receipt
OTC	Over-the-Counter

SCHEDULE OF INVESTMENTS 7