BlackRock Floating Rate Income Trust NPORTP (Mar 2022 report)

Schedule of Investments (unaudited)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Shares		Value

Common Stocks

Auto Components — 0.0%
Lear Corp.^(a)(b)			178	$	25,381


Construction & Engineering — 0.0%
McDermott International Ltd.^(b)			76,644		50,585


Household Durables — 0.0%
Berkline Benchcraft Equity LLC^(b)(c)			6,155		—


Metals & Mining^(b)— 0.0%
Ameriforge Group, Inc.			832		832
Preferred Proppants LLC^(c)			7,476		542


					1,374

Oil, Gas & Consumable Fuels — 0.0%
California Resources Corp.			1,252		56,002


Software — 0.0%
Avaya Holdings Corp.^(b)			40		507


Specialty Retail — 0.2%
Neiman Marcus Group, Inc.^(b)			2,218		363,197


Total Common Stocks — 0.2% (Cost: $2,433,027)					497,046


		Par (000)

Corporate Bonds

Airlines — 0.3%
Allegiant Travel Co., 8.50%, 02/05/24^(d)	USD		740		773,300


Auto Components — 0.1%
Clarios Global LP, 6.75%, 05/15/25^(d)			275		284,771


Beverages — 0.1%
Triton Water Holdings, Inc., 6.25%, 04/01/29^(d)			252		214,853


Building Materials — 0.0%
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29^(d)			73		72,088


Chemicals — 0.0%
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28^(d)			32		32,400


Construction Materials — 0.2%
Wolverine Escrow LLC, 9.00%, 11/15/26^(d)			940		629,800


Diversified Telecommunication Services — 0.0%
Zayo Group Holdings, Inc., 6.13%, 03/01/28^(d)			155		138,725


Electric Utilities — 0.0%
Pike Corp., 5.50%, 09/01/28^(d)			89		83,883
Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc., 5.02%, 11/10/21^(a)(b)(c)			1,050		—


					83,883

Electronic Equipment, Instruments & Components — 0.1%
Vertiv Group Corp., 4.13%, 11/15/28^(d)			311		283,823


Equity Real Estate Investment Trusts (REITs) — 0.0%
MGM Growth Properties Operating Partnership LP/MGP Finance Co.-Issuer, Inc., 4.63%, 06/15/25^(d)			85		85,637


Security		Par (000)		Value

Household Products — 0.0%
Berkline Benchcraft LLC, 0.00%, 06/01/22^(a)(b)(c)	USD		400	$	—


Internet Software & Services — 0.0%
Uber Technologies, Inc., 6.25%, 01/15/28^(d)			137		141,650


Machinery — 0.2%
Madison IAQ LLC, 5.88%, 06/30/29^(d)			499		447,852


Media^(d)— 0.3%
Liberty Broadband Corp., 2.75%, 09/30/50			315		310,676
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23^(e)			129		98,191
Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 09/15/26			353		340,645


					749,512

Oil, Gas & Consumable Fuels — 0.2%
Occidental Petroleum Corp., 6.63%, 09/01/30			382		438,345


Total Corporate Bonds — 1.5% (Cost: $4,812,862)					4,376,639


Floating Rate Loan Interests^(f)

Aerospace & Defense — 5.2%
Atlas CC Acquisition Corp.
Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 05/25/28			3,343		3,325,356
Term Loan C, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 05/25/28			680		676,344
Bleriot U.S. Bidco, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.00%), 5.01%, 10/30/26			442		438,934
Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, 11/16/28^(g)			230		227,222
Dynasty Acquisition Co., Inc.
2020 CAD Term Loan B2, (3 mo. LIBOR + 3.50%), 4.51%, 04/06/26			1,243		1,218,870
2020 Term Loan B1, (3 mo. LIBOR + 3.50%), 4.51%, 04/06/26			2,311		2,267,098
Nordam Group, Inc., Term Loan B, (1 mo. LIBOR + 5.50%), 6.00%, 04/09/26			458		396,032
Peraton Corp.
2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 8.50%, 02/01/29			1,355		1,342,035
Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/01/28			3,538		3,507,822
Spirit Aerosystems, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 01/15/25			609		607,787
TransDigm, Inc., 2020 Term Loan F, (1 mo. LIBOR + 2.25%), 2.71%, 12/09/25			1,561		1,533,261


					15,540,761

Air Freight & Logistics — 0.4%
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 04/06/28			359		355,872
Kestrel Bidco, Inc., Term Loan B, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 12/11/26			257		246,955
PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%), 4.76%, 12/17/28			597		590,253


					1,193,080

Airlines — 2.9%
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 04/20/28			1,009		1,020,864


1

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Par (000)		Value

Airlines (continued)
Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/11/28	USD		1,261	$	1,247,959
American Airlines, Inc.
2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 2.20%, 01/29/27			633		590,547
2017 Incremental Term Loan, (6 mo. LIBOR + 2.00%), 2.84%, 12/14/23			1,201		1,184,335
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.25%, 06/20/27			2,132		2,209,324
United Airlines, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 04/21/28			2,289		2,258,369


					8,511,398

Auto Components — 2.8%
Adient U.S. LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 04/08/28			504		495,367
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 04/30/26			2,248		2,217,146
Truck Hero, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 01/31/28			1,540		1,490,376
USI, Inc.
2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 4.01%, 05/16/24			2,331		2,312,978
2019 Incremental Term Loan B, (3 mo. LIBOR + 3.25%), 4.26%, 12/02/26			133		131,724
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 02/05/26			1,593		1,541,770


					8,189,361

Banks — 0.8%
Directv Financing LLC, Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 5.75%, 08/02/27			1,316		1,313,561
LABL, Inc., 2021 USD 1st Lien Term Loan, (1 mo. LIBOR + 5.00%), 5.50%, 10/29/28			998		982,717


					2,296,278

Beverages — 0.4%
Naked Juice LLC
Delayed Draw Term Loan, (SOFR + 3.25%), 3.75%, 01/24/29			63		62,019
Term Loan, 01/24/29^(g)			1,189		1,168,101


					1,230,120

Building Materials — 0.2%
CHI Overhead Doors, Inc, Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 3.96%, 07/31/25			111		109,859
Cornerstone Building Brands, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 3.75%, 04/12/28			261		251,696
MI Windows & Doors LLC, 2022 Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 12/18/27			203		200,718


					562,273

Building Products — 2.0%
Associated Materials Inc., 2022 Term Loan B, 03/08/29^(g)			525		505,872
CP Atlas Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 11/23/27			911		884,229
CPG International, Inc., 2017 Term Loan, (1 Week LIBOR + 2.50%, 0.75% Floor), 3.25%, 05/05/24			1,067		1,056,597
Jeld-Wen, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 07/28/28			509		503,747


Security		Par (000)		Value

Building Products (continued)
Standard Industries Inc., 2021 Term Loan B, 09/22/28^(g)	USD		1,006	$	1,002,714
Wilsonart LLC, 2021 Term Loan E, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.50%, 12/31/26			1,961		1,907,647


					5,860,806

Capital Markets — 3.2%
AqGen Ascensus, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.50%), 7.00%, 08/02/29^(c)			1,663		1,646,110
Deerfield Dakota Holding LLC
2020 USD Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 04/09/27			3,706		3,682,784
2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 04/07/28^(c)			1,114		1,111,215
Eagle Broadband Investments LLC, Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 4.06%, 11/12/27			940		926,642
FinCo I LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.50%), 2.96%, 06/27/25			509		503,590
Focus Financial Partners LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.50%), 3.00%, 07/01/28			913		900,261
Greenhill & Co., Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 04/12/24			721		715,049


					9,485,651

Chemicals — 5.3%
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 08/27/26			1,570		1,563,274
Atotech BV, 2021 USD Term Loan B, (1 mo. LIBOR + 2.50%), 3.00%, 03/18/28			2,139		2,108,359
Axalta Coating Systems U.S. Holdings, Inc., USD Term Loan B3, (3 mo. LIBOR + 1.75%), 2.76%, 06/01/24			1,136		1,124,632
CPC Acquisition Corp., Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 12/29/27^(c)			452		438,857
Element Materials Technology Group U.S. Holdings, Inc., 2017 USD Term Loan B, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.51%, 06/28/24			711		701,448
Element Solutions, Inc., 2019 Term Loan B1, (1 mo. LIBOR + 2.00%), 2.46%, 01/31/26			1,234		1,220,129
Illuminate Buyer LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 06/30/27			864		834,784
Lonza Group AG
USD 1st Lien Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.01%, 07/03/28			29		28,168
USD Term Loan B, (6 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 07/03/28			638		621,433
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 3.51%, 03/02/26			1,510		1,491,922
Minerals Technologies, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 02/14/24^(c)			262		260,948
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.70%, 05/15/24			931		918,003
Oxea Holding Drei GmbH, 2017 USD Term Loan B2, (1 mo. LIBOR + 3.25%), 3.56%, 10/14/24			1,069		1,044,680
PQ Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.50%), 3.00%, 06/09/28			1,075		1,059,647
Pregis TopCo Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 4.00%), 4.50%, 08/01/26^(c)			436		425,703
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (6 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 03/16/27			655		643,111
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/02/28^(c)			877		863,650


SCHEDULE OF INVESTMENTS		2

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Par (000)		Value

Chemicals (continued)
Starfruit Finco BV, 2018 USD Term Loan B, (3 mo. LIBOR + 3.00%), 4.01%, 10/01/25	USD		99	$	97,216
W.R. Grace & Co.-Conn., 2021 Term Loan B, (3 mo. LIBOR + 3.75%), 4.81%, 09/22/28			333		329,833


					15,775,797

Commercial Services & Supplies — 4.9%
Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 05/12/28			1,625		1,598,275
Aramark Services, Inc., 2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 2.21%, 03/11/25			95		93,218
Asurion LLC
2018 Term Loan B6, (1 mo. LIBOR + 3.12%), 3.58%, 11/03/23			456		452,675
2018 Term Loan B7, (1 mo. LIBOR + 3.00%), 3.46%, 11/03/24			696		686,194
2020 Term Loan B8, (1 mo. LIBOR + 3.25%), 3.71%, 12/23/26			486		475,161
2021 2nd Lien Term Loan B3, (1 mo. LIBOR + 5.25%), 5.71%, 01/31/28			689		674,239
2021 2nd Lien Term Loan B4, (1 mo. LIBOR + 5.25%), 5.71%, 01/20/29			984		960,630
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 10/08/28			433		428,045
Covanta Holding Corp.^(g)
2021 Term Loan B, 11/30/28			705		700,600
2021 Term Loan C, 11/30/28			53		52,479
Creative Artists Agency LLC, 2020 Incremental Term Loan B1, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 11/26/26			1,204		1,200,601
Dealer Tire LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 4.71%, 12/12/25			1,576		1,566,372
EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.76%, 05/09/25			328		321,771
KAR Auction Services, Inc., 2019 Term Loan B6, (1 mo. LIBOR + 2.25%), 2.75%, 09/19/26^(c)			623		616,631
Packers Holdings LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 03/09/28			1,039		1,021,838
Prime Security Services Borrower LLC, 2021 Term Loan, (6 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 09/23/26			1,220		1,210,361
Vericast Corp., 2021 Term Loan, (3 mo. LIBOR + 7.75%, 1.00% Floor), 8.76%, 06/16/26			211		174,309
Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 4.46%, 08/27/25			1,933		1,923,562
Viad Corp., Initial Term Loan, (1 mo. LIBOR + 5.00%), 5.50%, 07/30/28			487		479,257


					14,636,218

Communications Equipment — 0.5%
ViaSat, Inc., Term Loan, (3 mo. LIBOR + 4.50%), 5.00%, 03/04/29			1,560		1,550,280


Construction & Engineering — 2.2%
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.26%, 06/21/24			2,483		2,365,068
New Arclin U.S. Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 7.50%, 09/30/29^(c)			572		551,980


Security		Par (000)			Value

Construction & Engineering (continued)
Pike Corp., 2021 Incremental Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 01/21/28	USD		644		$	637,988
SRS Distribution, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 06/02/28			1,815			1,790,439
USIC Holdings, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 05/12/28			1,088			1,075,903


						6,421,378

Construction Materials — 1.5%
Core & Main LP, 2021 Term Loan B, (1 mo. LIBOR + 2.50%), 2.95%, 07/27/28			2,562	��		2,536,878
Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 03/29/25			1,479			1,451,484
Tamko Building Products LLC, Term Loan B, (2 mo. LIBOR + 3.00%), 3.30%, 05/29/26			537			525,015


						4,513,377

Containers & Packaging — 2.0%
BWAY Holding Co., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 3.48%, 04/03/24			1,482			1,458,672
Charter NEX US, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/01/27			2,228			2,208,541
Flex Acquisition Co., Inc., 2021 Term Loan, (3 mo. LIBOR + 3.50%), 4.00%, 03/02/28			597			595,139
Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 4.46%, 08/01/26			382			373,296
Tosca Services LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/18/27^(c)			731			713,192
Trident TPI Holdings, Inc.
2021 Delayed Draw Term Loan, 4.00%, 09/15/28			56			54,788
2021 Incremental Term Loan, (1 mo. LIBOR + 4.00%), 4.50%, 09/17/28			623			614,499


						6,018,127

Distributors — 1.0%
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. LIBOR + 2.00%), 2.46%, 01/15/27			739			728,163
TMK Hawk Parent Corp.
2020 Super Priority First Out Term Loan A, (1 mo. LIBOR + 9.50%, 1.00% Floor), 10.50%, 05/30/24			590			561,393
2020 Super Priority Second Out Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 08/28/24			1,905			1,618,666


						2,908,222

Diversified Consumer Services — 3.5%
2U, Inc., Term Loan, (3 mo. LIBOR + 5.75%, 0.75% Floor), 6.50%, 12/28/24			886			847,899
Amentum Government Services Holdings LLC, 2022 Term Loan, (SOFR + 4.00%), 4.50%, 02/15/29			488			482,510
Ascend Learning, LLC
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 6.25%, 12/10/29			482			478,385
2021 Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 12/10/28			1,193			1,179,381
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.75%, 11/23/28			577			569,348
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.21%, 07/11/25			1,392			1,373,826


3

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Par (000)		Value

Diversified Consumer Services (continued)
Midas Intermediate Holdco II LLC, 2020 Term Loan B, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.68%, 12/22/25	USD		1,906	$	1,771,298
Nomad Foods Europe Midco Ltd., 2017 USD Term Loan B4, (3 mo. LIBOR + 2.25%), 2.76%, 05/15/24			693		684,216
Ola Singapore PTE, Ltd., Term Loan, (SOFR + 6.25%, 0.75% Floor), 7.00%, 12/15/26			541		522,398
PAI Holdco, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 10/28/27			315		311,746
Serta Simmons Bedding LLC
2020 Super Priority First Out Term Loan, (1 mo. LIBOR + 7.50%), 8.50%, 08/10/23			288		288,049
2020 Super Priority Second Out Term Loan, (1 mo. LIBOR + 7.50%, 1.00% Floor), 8.50%, 08/10/23			453		426,206
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR + 4.50%), 5.00%, 01/15/27			1,103		1,101,515
Voyage Australia Pty. Ltd., USD Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 07/20/28			459		453,154


					10,489,931

Diversified Financial Services — 8.8%
Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 4.96%, 07/31/26			632		628,468
Alchemy Copyrights LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 3.50%, 03/10/28^(c)			522		520,109
AlixPartners LLP, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 3.25%, 02/04/28			1,076		1,057,695
AqGen Island Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 4.56%, 08/02/28^(c)			2,200		2,182,219
Castlelake Aviation Ltd., Term Loan B, (3 mo. LIBOR + 2.75%), 3.25%, 10/22/26			1,444		1,403,452
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.50%), 3.00%, 09/01/28			1,719		1,704,578
Delta TopCo, Inc.
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.00%, 12/01/28			412		403,072
2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/01/27			1,074		1,055,538
EG America LLC, 2018 USD Term Loan, (3 mo. LIBOR + 4.00%), 5.00%, 02/07/25			559		549,306
Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.01%, 10/01/27^(c)			1,923		1,918,553
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (1 mo. LIBOR + 4.00%), 4.50%, 02/16/28			263		260,613
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 07/03/24			1,032		1,016,279
KKR Apple Bidco LLC
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 6.25%, 09/21/29			153		151,758
2021 Term Loan, (1 mo. LIBOR + 3.00%), 3.50%, 09/23/28			374		368,743
LBM Acquisition LLC, Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.21%, 12/18/27			1,516		1,476,482
LEB Holdings (USA), Inc, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 11/02/27			151		150,105
Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 09/25/26			1,499		1,484,820
RVR Dealership Holdings LLC, Term Loan B, (SOFR + 3.75%, 0.75% Floor), 4.50%, 02/08/28			454		431,893


Security		Par (000)		Value

Diversified Financial Services (continued)
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3 mo. LIBOR + 2.00%), 3.01%, 11/05/28	USD		826	$	812,924
SMG U.S. Midco 2, Inc., 2020 Term Loan, (3 mo. LIBOR + 2.50%), 2.96%, 01/23/25			947		908,697
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 5.26%, 07/30/25			1,113		1,077,252
Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 6.01%, 09/01/25			4,224		3,940,685
VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 02/28/27			910		900,413
White Cap Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 10/19/27			760		750,551
Ziggo Financing Partnership, USD Term Loan I, (3 mo. LIBOR + 2.50%), 2.90%, 04/30/28			1,003		986,862


					26,141,067

Diversified Telecommunication Services — 2.1%
Cablevision Lightpath LLC, Term Loan B, (3 mo. LIBOR + 3.25%), 3.75%, 11/30/27			351		346,628
Consolidated Communications, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 10/02/27			497		463,935
Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.81%, 05/01/28			1,226		1,205,193
Iridium Satellite LLC, 2021 Term Loan B2, (1 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 11/04/26			1,195		1,184,079
Level 3 Financing, Inc., 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 03/01/27			1,183		1,159,552
Meridian Adhesives Group, Inc., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 07/24/28			1,254		1,232,579
Virgin Media SFA Finance Ltd., GBP Term Loan L, (SONIA CMPD + 3.25%), 3.85%, 01/15/27	GBP		600		771,047


					6,363,013

Electric Utilities — 1.3%
ExGen Renewables IV LLC, 2020 Term Loan, (3 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 12/15/27	USD		818		809,475
Triton Water Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 4.51%, 03/31/28			3,036		2,955,723


					3,765,198

Electrical Equipment — 1.2%
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 06/23/28			949		935,390
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.50%, 0.01% Floor), 3.25%, 03/31/27			1,503		1,479,688
II-VI, Inc., 2021 Bridge Term Loan B, 12/01/28^(c)(g)			1,070		1,061,975


					3,477,053

Entertainment — 0.4%
MSG National Properties LLC, Term Loan, (3 mo. LIBOR + 6.25%, 0.75% Floor), 7.00%, 11/12/25^(c)			1,208		1,201,674


Environmental, Maintenance & Security Service — 0.7%
Asplundh Tree Expert LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 09/07/27			1,220		1,204,358
TruGreen LP, 2020 Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 11/02/27			752		746,869


					1,951,227


SCHEDULE OF INVESTMENTS		4

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Par (000)		Value

Equity Real Estate Investment Trusts (REITs) — 0.1%
RHP Hotel Properties LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 05/11/24	USD		441	$	434,287


Food & Staples Retailing — 0.3%
U.S. Foods, Inc.
2019 Term Loan B, (3 mo. LIBOR + 2.00%), 2.51%, 09/13/26			396		387,580
2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.26%, 11/22/28			464		457,831


					845,411

Food Products — 2.4%
8th Avenue Food & Provisions, Inc.
2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.21%, 10/01/25			739		639,358
2021 Incremental Term Loan, (1 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 10/01/25			949		842,119
Chobani LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 10/23/27			1,198		1,175,217
Froneri International Ltd., 2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 2.71%, 01/29/27			2,196		2,153,078
Naked Juice LLC, 2nd Lien Term Loan, (3 mo. LIBOR + 6.00%), 6.65%, 01/24/30			726		722,645
Reynolds Group Holdings, Inc., 2020 Term Loan B2, (1 mo. LIBOR + 3.25%), 3.71%, 02/05/26			248		241,560
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 06/08/28			938		927,019
UTZ Quality Foods LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 01/20/28			425		418,134


					7,119,130

Gas Utilities — 0.6%
Freeport LNG Investments, LLLP, Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 12/21/28			1,751		1,737,518


Health Care Equipment & Supplies — 1.9%
Electron BidCo, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.26%, 11/01/28			1,361		1,344,778
Insulet Corp., Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 05/04/28^(c)			476		471,842
Medline Borrower, LP, USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 10/21/28			2,276		2,252,256
Ortho-Clinical Diagnostics SA, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.23%, 06/30/25			1,154		1,148,872
Venga Finance SARL, 2021 USD Term Loan B, 12/04/28^(g)			402		389,545


					5,607,293

Health Care Providers & Services — 3.1%
CCRR Parent, Inc., Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 03/05/28			1,007		1,001,255
CHG Healthcare Services, Inc., 2021 Term Loan, (6 mo. LIBOR + 3.50%), 4.51%, 09/29/28			636		629,250
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.01%, 01/08/27			898		892,691
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.20%, 10/10/25			1,188		786,297
EyeCare Partners LLC
2020 Term Loan, (3 mo. LIBOR + 3.75%), 4.76%, 02/18/27			1,042		1,027,392
2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%), 7.76%, 11/15/29			356		353,483


Security		Par (000)			Value

Health Care Providers & Services (continued)
EyeCare Partners LLC (continued)
2021 Delayed Draw Term Loan, 4.76%, 11/15/28	USD		66		$	65,712
2021 Incremental Term Loan, (3 mo. LIBOR + 3.75%), 4.76%, 11/15/28			200			197,135
Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.50%), 5.51%, 03/05/26^(c)			649			582,251
Orbcomm, Inc., Term Loan B, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 09/01/28			542			535,814
PetVet Care Centers LLC, 2021 Term Loan B3, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 02/14/25			33			32,379
Sotera Health Holdings LLC, 2021 Term Loan, (3 mo. LIBOR + 2.75%), 3.25%, 12/13/26			1,564			1,541,838
WP CityMD Bidco LLC, 2021 1st Lien Term Loan B, (6 mo. LIBOR + 3.25%), 3.75%, 12/23/28			1,516			1,506,488


						9,151,985

Health Care Services — 0.7%
Azalea Topco, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 3.80%, 07/25/26			602			592,908
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%), 7.50%, 11/01/29			377	��		361,920
Unified Physician Management LLC, 2020 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 12/18/27			1,148			1,133,960


						2,088,788

Health Care Technology — 3.3%
Athenahealth, Inc., 2022 Term Loan B, (SOFR + 3.50%), 4.00%, 02/15/29			1,783			1,760,780
Change Healthcare Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 03/01/24			852			846,685
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 3.21%, 10/10/25			1,352			1,339,084
IQVIA, Inc., 2017 USD Term Loan B1, (1 mo. LIBOR + 1.75%), 2.21%, 03/07/24			292			289,164
Polaris Newco LLC, USD Term Loan B, (1 mo. LIBOR + 4.00%), 4.50%, 06/04/28			2,699			2,670,286
Press Ganey Holdings, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 07/25/26			1,041			1,033,430
Verscend Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 7.50%, 04/02/29^(c)			1,902			1,882,980


						9,822,409

Hotels, Restaurants & Leisure — 6.4%
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 2.21%, 11/19/26			1,006			982,910
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 4.21%, 02/02/26			263			257,314
Caesars Resort Collection LLC
2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 3.21%, 12/23/24			967			960,478
2020 Term Loan B1, (1 mo. LIBOR + 3.50%), 3.96%, 07/20/25			753			749,914
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1 mo. LIBOR + 2.00%), 2.46%, 03/17/28			480			473,742
ECL Entertainment LLC, Term Loan, (1 mo. LIBOR + 7.50%, 0.75% Floor), 8.25%, 03/31/28			569			571,012
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.01%, 03/08/24			2,748			2,577,150
Fertitta Entertainment LLC, 2022 Term Loan B, (SOFR + 4.00%), 4.50%, 01/27/29			2,102			2,089,103


5

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Par (000)		Value

Hotels, Restaurants & Leisure (continued)
Four Seasons Hotels Ltd., New 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 2.46%, 11/30/23	USD		809	$	823,774
Golden Nugget, Inc., 2020 Initial Term Loan, (1 mo. LIBOR + 12.00%, 1.00% Floor), 13.00%, 10/04/23^(c)			110		116,265
IRB Holding Corp., 2020 Term Loan B, (6 mo. LIBOR + 2.75%, 1.00% Floor), 3.76%, 02/05/25			979		968,256
Playtika Holding Corp., 2021 Term Loan, (1 mo. LIBOR + 2.75%), 3.21%, 03/11/28			1,214		1,194,150
Scientific Games International, Inc., 2018 Term Loan B5, (1 mo. LIBOR + 2.75%), 3.21%, 08/14/24			789		785,661
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 2.25%), 3.26%, 07/21/26			690		684,217
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 02/08/27			1,270		1,250,848
Travelport Finance Luxembourg SARL^(e)
2020 Super Priority Term Loan, (7.25% PIK), 2.51%, 02/28/25			859		873,252
2021 Consented Term Loan, (1.75% PIK), 6.01%, 05/29/26			1,380		1,212,919
Twin River Worldwide Holdings, Inc., 2021 Term Loan B, (6 mo. LIBOR + 3.25%), 3.75%, 10/01/28			558		554,514
Whatabrands LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 08/03/28			1,405		1,387,038
Wyndham Hotels & Resorts, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 05/30/25			339		335,082


					18,847,599

Household Durables — 1.9%
ACProducts Holdings, Inc., 2021 Term Loan B, (6 mo. LIBOR + 4.25%), 4.75%, 05/17/28			1,721		1,547,816
Reynolds Consumer Products LLC, Term Loan, (1 mo. LIBOR + 1.75%), 2.21%, 02/04/27			933		915,987
Snap One Holdings Corp., Term Loan B, (3 mo. LIBOR + 4.50%), 5.51%, 12/08/28			667		654,260
Solis IV BV, USD Term Loan B1, (3 mo. LIBOR + 3.50%), 4.00%, 02/26/29			1,394		1,364,377
Springs Windows Fashions LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/06/28			512		495,785
Weber-Stephen Products LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 10/30/27			600		579,851


					5,558,076

Household Products — 0.1%
Spectrum Brands, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.00%), 2.50%, 03/03/28			332		326,884


Independent Power and Renewable Electricity Producers — 0.5%
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 01/15/25			312		306,591
Calpine Corp.
2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 2.46%, 08/12/26			470		462,403
Term Loan B9, (1 mo. LIBOR + 2.00%), 2.46%, 04/06/26			874		859,998


					1,628,992

Industrial Conglomerates — 2.8%
AVSC Holding Corp.^(e)
2020 Term Loan B1, (0.25% PIK), 4.25%, 03/03/25			1,811		1,702,335


Security		Par (000)		Value

Industrial Conglomerates (continued)
AVSC Holding Corp.^(e)(continued)
2020 Term Loan B3, (10.00% PIK), 5.00%, 10/15/26	USD		789	$	910,310
Diamond BC BV, 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 3.25%, 09/29/28			1,192		1,166,384
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 7.75%, 11/28/23			810		810,156
Stitch Aquisition Corp., Term Loan B, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.76%, 07/28/28			675		631,784
Vertical US Newco, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 07/30/27			1,173		1,163,696
Vertiv Group Corp., 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 2.99%, 03/02/27			1,819		1,771,189


					8,155,854

Insurance — 4.4%
Alliant Holdings Intermediate LLC
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 05/09/25			1,784		1,762,187
2021 Term Loan B4, (1 mo. LIBOR + 3.50%), 4.00%, 11/06/27			2,357		2,339,191
Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 05/09/25			630		622,667
AmWINS Group, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 02/19/28			1,197		1,175,791
AssuredPartners, Inc.
2020 Term Loan B, (1 mo. LIBOR + 3.50%), 3.96%, 02/13/27			629		620,080
2021 Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 02/12/27			608		599,775
Hub International Ltd.
2018 Term Loan B, (2 mo. LIBOR + 3.00%), 3.27%, 04/25/25			1,769		1,747,395
2021 Term Loan B, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 04/25/25			1,661		1,648,855
NFP Corp., 2020 Term Loan, (1 mo. LIBOR + 3.25%), 3.71%, 02/13/27			115		113,176
Ryan Specialty Group LLC, Term Loan, (1 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 09/01/27			707		700,882
Sedgwick Claims Management Services, Inc.
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 12/31/25			488		482,713
2019 Term Loan B, (1 mo. LIBOR + 3.75%), 4.21%, 09/03/26			627		621,859
2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 09/03/26			509		505,476


					12,940,047

Interactive Media & Services — 2.8%
Adevinta ASA, USD Term Loan B, (3 mo. LIBOR + 2.75%, 0.75% Floor), 3.76%, 06/26/28			1,534		1,508,453
Arches Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 12/06/27			1,463		1,437,074
Camelot U.S. Acquisition 1 Co., 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 10/31/26			1,750		1,731,267


SCHEDULE OF INVESTMENTS		6

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Par (000)		Value

Interactive Media & Services (continued)
Go Daddy Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.45%, 08/10/27	USD		454	$	449,965
Grab Holdings, Inc., Term Loan B, (6 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 01/29/26			3,142		3,063,358


					8,190,117

Internet & Direct Marketing Retail — 0.5%
CNT Holdings I Corp., 2020 Term Loan, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 11/08/27			1,286		1,278,206
PUG LLC, 2021 Incremental Term Loan B, (1 mo. LIBOR + 4.25%), 4.75%, 02/13/27^(c)			229		227,134


					1,505,340

Internet Software & Services — 0.3%
Uber Technologies, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%), 3.96%, 02/25/27			907		902,796


IT Services — 7.2%
Aruba Investments, Inc.
2020 2nd Lien Term Loan, (6 mo. LIBOR + 7.75%, 0.75% Floor), 8.50%, 11/24/28			885		873,937
2020 USD Term Loan, (6 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 11/24/27			474		468,277
Banff Merger Sub, Inc., 2021 USD Term Loan, (3 mo. LIBOR + 3.75%), 4.21%, 10/02/25			1,263		1,253,997
Camelot U.S. Acquisition 1 Co., Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 10/31/26			1,355		1,338,156
CCC Intelligent Solutions, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 3.26%, 09/21/28			1,045		1,033,881
CoreLogic, Inc.
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 7.00%, 06/04/29			873		859,207
Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 06/04/28			2,578		2,544,221
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 1.75%), 2.21%, 04/30/28			1,261		1,237,704
Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 12/01/27			3,090		3,082,377
Optiv Security, Inc., 1st Lien Term Loan, (6 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 02/01/24			271		263,861
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 02/13/27			1,568		1,534,544
Sophia LP, 2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.00%, 1.00% Floor), 9.01%, 10/09/28			2,590		2,635,325
Trans Union LLC
2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 2.21%, 11/16/26			1,153		1,135,206
2021 Term Loan B6, (1 mo. LIBOR + 2.25%), 2.75%, 12/01/28			1,616		1,602,077
Virtusa Corp., 1st Lien Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28^(c)			647		640,005
WEX, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.25%), 2.71%, 03/31/28			605		596,790
ZoomInfo LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 02/02/26			135		134,325


					21,233,890


Security		Par (000)		Value

Leisure Products — 0.4%
Fender Musical Instruments Corp., 2021 Term Loan B, (SOFR + 4.00%), 4.50%, 12/01/28	USD		605	$	599,521
MND Holdings III Corp., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.51%, 06/19/24			615		605,500


					1,205,021

Life Sciences Tools & Services — 3.2%
Avantor Funding, Inc.
2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.50%, 11/21/24			213		210,580
2021 Term Loan B5, (1 mo. LIBOR + 2.25%), 2.75%, 11/08/27			1,775		1,758,505
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 02/04/27			2,722		2,708,613
ICON Luxembourg SARL
LUX Term Loan, (3 mo. LIBOR + 2.25%), 3.31%, 07/01/28			1,559		1,550,002
US Term Loan, (3 mo. LIBOR + 2.25%), 3.31%, 07/01/28			388		386,185
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3 mo. LIBOR + 3.00%), 3.50%, 10/19/27^(c)			758		754,813
Parexel International Corp., 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 11/15/28			2,118		2,100,997


					9,469,695

Machinery — 3.8%
Albion Financing 3 SARL, USD Term Loan, (3 mo. LIBOR + 5.25%), 5.75%, 08/17/26			1,141		1,128,849
ASP Blade Holdings, Inc., Initial Term Loan, (1 mo. LIBOR + 4.00%), 4.50%, 10/15/28			419		412,831
Clark Equipment Co., 2021 Incremental Term Loan, (3 mo. LIBOR + 2.25%), 3.26%, 05/18/24			837		833,279
Columbus McKinnon Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.81%, 05/14/28			254		249,471
Filtration Group Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 10/21/28			731		720,218
Fluidra SA, 2022 USD Term Loan B, (SOFR + 2.00%), 2.50%, 01/29/29			192		190,737
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1 mo. LIBOR + 1.75%), 2.21%, 02/28/27			1,389		1,363,497
Madison IAQ LLC, Term Loan, (6 mo. LIBOR + 3.25%), 4.52%, 06/21/28			2,544		2,503,510
SPX Flow, Inc., 03/16/29^(g)			857		834,144
Titan Acquisition Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 4.01%, 03/28/25			2,932		2,864,466
Zurn LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.75%, 10/04/28			78		77,286


					11,178,288

Media — 12.1%
A-L Parent LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/01/23			1,588		1,507,208
Altice Financing SA
2017 USD Term Loan B, (3 mo. LIBOR + 2.75%), 2.99%, 07/15/25			693		674,205
USD 2017 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 2.99%, 01/31/26			958		921,336
Altice France SA, 2018 Term Loan B13, (3 mo. LIBOR + 4.00%), 4.51%, 08/14/26			2,147		2,104,654
AMC Entertainment Holdings, Inc., 2019 Term Loan B, 04/22/26^(g)			590		524,624


7

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Par (000)			Value

Media (continued)
Cable One, Inc., 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.46%, 05/03/28	USD		304		$	298,846
Charter Communications Operating LLC, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 2.21%, 04/30/25			1,616			1,608,462
City Football Group Ltd., Term Loan, (6 mo. LIBOR + 3.50%), 4.00%, 07/21/28			983			962,635
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 3.80%, 08/21/26			2,359			2,316,329
CMG Media Corp., 2021 Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 12/17/26			—	^(h)		143
Connect Finco SARL, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 12/12/26			3,488			3,454,863
CSC Holdings LLC
2017 Term Loan B1, (1 mo. LIBOR + 2.25%), 2.65%, 07/17/25			1,315			1,291,689
2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 2.90%, 04/15/27			1,297			1,272,315
E.W. Scripps Co., 2020 Term Loan B3, (1 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 01/07/28			528			523,637
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 03/24/25			822			809,115
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. LIBOR + 1.75%), 2.25%, 10/19/26			1,567			1,531,409
MH Sub I LLC
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 09/13/24			1,903			1,877,584
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 09/15/24			1,801			1,778,644
2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 6.71%, 02/23/29			764			755,405
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 2.73%, 09/19/26			828			824,244
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 09/28/23^(c)			2,539			2,513,185
Trader Interactive LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 4.50%, 07/28/28^(c)			347			342,098
UPC Financing Partnership, 2021 USD Term Loan AX, (3 mo. LIBOR + 3.00%), 3.40%, 01/31/29			356			350,809
Virgin Media Bristol LLC
2020 USD Term Loan Q, (1 mo. LIBOR + 3.25%), 3.65%, 01/31/29			913			906,728
USD Term Loan N, (3 mo. LIBOR + 2.50%), 2.90%, 01/31/28			609			600,854
Voyage Digital Ltd., 03/03/29^(c)(g)			628			615,440
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 3.21%, 05/18/25			2,009			1,971,463
WMG Acquisition Corp., 2021 Term Loan G, (1 mo. LIBOR + 2.12%), 2.58%, 01/20/28			412			407,380
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 03/09/27			3,056			2,971,402


						35,716,706

Oil, Gas & Consumable Fuels — 1.9%
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 4.21%, 12/13/25			754			693,325
Lealand Finance Co. BV
2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 06/28/24^(c)			25			14,951
2020 Take Back Term Loan, (1 mo. LIBOR + 1.00%), 1.46%, 06/30/25			181			90,024


Security		Par (000)		Value

Oil, Gas & Consumable Fuels (continued)
Lucid Energy Group II Borrower LLC, 2021 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 11/24/28	USD		1,489	$	1,479,344
Medallion Midland Acquisition, LLC, 10/18/28^(g)			1,197		1,182,792
Murphy USA, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 2.25%, 01/31/28^(c)			397		397,000
Oryx Midstream Services Permian Basin LLC, Term Loan B, 09/30/28^(g)			1,942		1,924,059


					5,781,495

Personal Products — 1.4%
Kronos Acquisition Holdings, Inc., 2021 1st Lien Term Loan, (SOFR + 6.00%, 1.00% Floor), 7.00%, 12/22/26			253		250,938
Prestige Brands, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.00%), 2.50%, 07/01/28			143		141,938
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 10/01/26			3,767		3,738,776


					4,131,652

Pharmaceuticals — 3.4%
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 05/04/25			753		740,651
Bausch Health Americas Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 06/02/25			1,856		1,839,290
Bausch Health Cos., Inc., 2022 Term Loan B, 01/27/27^(g)			1,489		1,472,249
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1 mo. LIBOR + 2.00%), 2.50%, 02/22/28^(c)			1,306		1,299,108
Elanco Animal Health, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 1.98%, 08/01/27			747		734,163
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 11/15/27			982		963,807
Jazz Financing Lux SARL, USD Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 05/05/28			1,398		1,391,972
Organon & Co., USD Term Loan, (3 mo. LIBOR + 3.00%), 3.56%, 06/02/28			985		979,220
Precision Medicine Group LLC, 2021 Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 4.01%, 11/18/27			806		788,669


					10,209,129

Professional Services — 0.6%
Dun & Bradstreet Corp.
2022 Incremental Term Loan B2, (SOFR + 3.25%), 3.56%, 01/18/29^(c)			443		438,570
Term Loan, (1 mo. LIBOR + 3.25%), 3.70%, 02/06/26			1,491		1,475,166


					1,913,736

Real Estate Management & Development — 0.8%
Chamberlain Group, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 4.51%, 11/03/28			1,527		1,506,815
Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 3.21%, 08/21/25			895		881,636


					2,388,451

Road & Rail — 0.2%
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 5.50%), 5.80%, 08/04/25			736		673,146


Semiconductors & Semiconductor Equipment — 0.1%
Synaptics, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 2.75%, 12/02/28			389		386,979


Software — 16.0%
Applied Systems, Inc.
2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 5.50%, 09/19/24			306		303,343


SCHEDULE OF INVESTMENTS		8

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Par (000)		Value

Software (continued)
Applied Systems, Inc. (continued)
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.50%, 0.75% Floor), 6.51%, 09/19/25	USD		439	$	435,914
Barracuda Networks, Inc.
1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.73%, 02/12/25			1,281		1,274,463
2020 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 10/30/28			535		531,656
Cloudera, Inc.
2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%), 6.50%, 10/08/29^(c)			916		899,970
2021 Term Loan, (1 mo. LIBOR + 3.75%), 4.25%, 10/08/28			1,852		1,826,535
ConnectWise LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 09/30/28			629		624,387
Cornerstone OnDemand, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%), 4.25%, 10/15/28			742		733,652
Digicel International Finance Ltd., 2017 Term Loan B, (6 mo. LIBOR + 3.25%), 3.50%, 05/27/24			799		758,793
E2open LLC, 2020 Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 02/04/28			177		174,541
Epicor Software Corp., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 8.75%, 07/31/28			1,316		1,340,675
Helios Software Holdings, Inc., 2021 USD Term Loan B, (6 mo. LIBOR + 3.75%), 5.25%, 03/11/28			1,315		1,300,978
Informatica LLC, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 3.25%, 10/29/28			3,183		3,146,099
Instructure Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.27%, 10/29/28^(c)			453		450,735
IPS Corp.
2021 2nd Lien Term Loan B, (1 mo. LIBOR + 7.00%), 7.50%, 10/01/29			645		631,023
2021 Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 10/01/28			363		353,868
Magenta Buyer LLC
2021 USD 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 5.75%, 07/27/28			3,716		3,672,091
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 0.75% Floor), 9.00%, 07/27/29			1,809		1,788,649
McAfee LLC, 2022 USD Term Loan B, (3 mo. LIBOR + 4.00%), 4.50%, 03/01/29			2,154		2,135,152
Netsmart Technologies, Inc., 2020 Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/01/27			968		962,154
Planview Parent, Inc.
2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.26%, 12/18/28^(c)			572		566,280
Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.01%, 12/17/27			1,324		1,305,902
Proofpoint, Inc.
1st Lien Term Loan, (3 mo. LIBOR + 3.25%), 3.76%, 08/31/28			1,866		1,844,277
2nd Lien Term Loan, (3 mo. LIBOR + 6.25%), 6.76%, 08/31/29			895		889,684
RealPage, Inc.
1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.75%, 04/22/28			3,900		3,851,120
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 0.75% Floor), 7.25%, 04/22/29			1,825		1,827,388


Security		Par (000)		Value

Software (continued)
Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.71%, 05/30/25	USD		419	$	413,182
Severin Acquisition LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.45%, 08/01/25			1,782		1,759,157
Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 4.26%, 10/07/27			1,361		1,342,781
Tempo Acquisition LLC, 2022 Term Loan B, (SOFR + 3.00%), 3.50%, 08/31/28			2,985		2,961,536
Tibco Software Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.71%, 03/04/28			1,799		1,792,735
Ultimate Software Group, Inc.
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%), 5.75%, 05/03/27			1,150		1,139,595
2021 Term Loan, (3 mo. LIBOR + 3.25%), 3.75%, 05/04/26			2,691		2,666,274
Term Loan B, (3 mo. LIBOR + 3.75%), 4.76%, 05/03/26			1,780		1,771,362


					47,475,951

Specialty Retail — 4.6%
Belron Finance U.S. LLC
2018 Term Loan B, (3 mo. LIBOR + 2.25%), 2.69%, 11/13/25			270		267,457
2019 USD Term Loan B3, (3 mo. LIBOR + 2.25%), 2.56%, 10/30/26			660		651,981
2021 USD Term Loan B, (3 mo. LIBOR + 2.75%), 3.25%, 04/13/28			1,714		1,700,035
CD&R Firefly Bidco Ltd., 2018 GBP Term Loan B1, (SONIA CMPD + 4.50%), 4.96%, 06/23/25	GBP		1,000		1,280,480
EG Group Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.25%), 5.25%, 03/31/26	USD		352		345,942
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 11/24/28			424		419,698
Mavis Tire Express Services Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 05/04/28			1,862		1,847,705
MED ParentCo LP, 1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 4.71%, 08/31/26			1,061		1,048,610
Medical Solutions LLC, 2021 First Lien Term Loan, (3 mo. LIBOR + 3.50%), 4.51%, 11/01/28			1,521		1,505,397
PetSmart, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28			3,269		3,255,837
Research Now Group, Inc., 2017 1st Lien Term Loan, (6 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 12/20/24			610		598,356
WOOF Holding, Inc.
1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.68%, 12/21/27			338		334,636
2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.18%, 12/21/28			345		340,256


					13,596,390

Technology Hardware, Storage & Peripherals — 0.2%
Electronics for Imaging, Inc., Term Loan, (1 mo. LIBOR + 5.00%), 5.46%, 07/23/26			630		615,048


Textiles, Apparel & Luxury Goods — 0.4%
Crocs, Inc., Term Loan B, (SOFR + 3.50%), 3.50%, 02/17/29			1,175		1,144,368


Trading Companies & Distributors — 0.9%
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 05/19/28			852		838,528


9

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)


Security		Par (000)		Value


Trading Companies & Distributors (continued)
Foundation Building Materials Holding Co. LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%), 3.75%, 01/31/28	USD		940	$	922,403
ION Trading Finance Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%), 5.76%, 04/01/28			419		414,994
SRS Distribution, Inc., 2022 Incremental Term Loan, (SOFR + 3.50%), 4.00%, 06/04/28			616		606,825


					2,782,750

Wireless Telecommunication Services — 1.1%
GOGO Intermediate Holdings LLC, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 04/30/28			679		673,080
MetroNet Systems Holdings LLC, 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 06/02/28			439		433,544
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 04/11/25			2,069		2,041,721


					3,148,345


Total Floating Rate Loan Interests — 143.7% (Cost: $429,664,695)					425,995,856


		Shares


Investment Companies

Fixed Income Funds — 0.3%
Invesco Senior Loan ETF			35,400		770,658


Total Investment Companies — 0.3% (Cost: $773,607)					770,658


		Benefical Interest (000)


Other Interests^(c)(i)

IT Services — 0.0%
Millennium Corp.	USD		930		—
Millennium Lender Claim Trust^(c)			991		—


Total Other Interests — 0.0% (Cost: $ — )					—


Security	Shares		Value


Warrants

Metals & Mining — 0.0%
Ameriforge Group, Inc. (Expires 06/08/24)^(b)		2,642	$	—


Oil, Gas & Consumable Fuels — 0.0%
California Resources Corp. (Expires 10/24/24)^(b)		617		8,879


Total Warrants — 0.0% (Cost: $ — )				8,879


Total Investments — 145.7% (Cost: $437,684,191)				431,649,078

Liabilities in Excess of Other Assets — (45.7)%				(135,312,325	)


Net Assets — 100.0%			$	296,336,753

^(a)	Issuer filed for bankruptcy and/or is in default.

^(b)	Non-income producing security.

^(c)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(d)	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.

^(e)	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.

^(f)	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.

^(g)	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.

^(h)	Rounds to less than 1,000.

⁽ⁱ⁾	Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

For Trust compliance purposes, the Trust’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:



Affiliated Issuer	Value at 12/31/21		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 03/31/22		Shares Held at 03/31/22		Income		Capital Gain Distributions from Underlying Funds

BlackRock Liquidity Funds, T-Fund, Institutional Class^(a)	$	—	$	—	^(b)	$	—	$	—	$	—	$	—		—	$	29	$	—

^(a)

As of period end, the entity is no longer held.

^(b)

Represents net amount purchased (sold).


SCHEDULE OF INVESTMENTS		10

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

Derivative Financial Instruments Outstanding as of Period End

Forward Foreign Currency Exchange Contracts

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

USD

2,028,518

GBP

1,555,000

Toronto-Dominion Bank

06/15/22

(13,615

)

Centrally Cleared Credit Default Swaps — Sell Protection

Reference Obligation/Index

Financing

Rate Received

by the Trust

Payment

Frequency

Termination

Date

Credit

Rating

^(a)

Notional

Amount (000)

^(b)

Value

Upfront

Premium

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

CDX.NA.HY.37.V1

5.00

Quarterly

12/20/26

B+

USD 3,500

225,963

247,841

(21,878

)

^(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 Trust may pay should a negative credit event take place as defined under the terms of the agreement.

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

•

Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the 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); and

•

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

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

The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy. The breakdown of the Trust’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
Common Stocks
Auto Components	$	25,381	$	—	$	—	$	25,381
Construction & Engineering		50,585		—		—		50,585
Household Durables		—		—		—		—
Metals & Mining		—		832		542		1,374
Oil, Gas & Consumable Fuels		56,002		—		—		56,002
Software		507		—		—		507
Specialty Retail		—		363,197		—		363,197
Corporate Bonds		—		4,376,639		—		4,376,639
Floating Rate Loan Interests		—		400,270,413		25,725,443		425,995,856
Investment Companies		770,658		—		—		770,658


11

Schedule of Investments (unaudited) (continued)

March 31, 2022

BlackRock Floating Rate Income Trust (BGT)

Fair Value Hierarchy as of Period End (continued)



	Level 1		Level 2			Level 3		Total

Other Interests	$	—	$	—		$	—	$	—
Warrants		8,879		—			—		8,879
Liabilities
Unfunded Floating Rate Loan Interests		—		(9,707	)		—		(9,707	)


	$	912,012	$	405,001,374		$	25,725,985	$	431,639,371

Derivative Financial Instruments^(a)
Liabilities
Credit Contracts	$	—	$	(21,878	)	$	—	$	(21,878	)
Foreign Currency Exchange Contracts		—		(13,615	)		—		(13,615	)


	$	—	$	(35,493	)	$	—	$	(35,493	)

^(a)

Derivative financial instruments are swaps and forward foreign currency exchange contracts. Swaps and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, bank borrowings payable of $133,000,000 are categorized as Level 2 within the fair value hierarchy.

A reconciliation of Level 3 financial instruments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:




	Common Stocks		Corporate Bonds			Floating Rate Loan Interests			Other Interests			Unfunded Floating Rate Loan Interests			Total


Assets
Opening balance, as of December 31, 2021	$	486	$	—	^(a)	$	17,379,496			—	^(a)		(182	)	$	17,379,800
Transfers into Level 3^(b)		—		—			15,215,761			—			—			15,215,761
Transfers out of Level 3^(c)		—		—			(6,377,758	)		—			182			(6,377,576	)
Accrued discounts/premiums		—		—			6,873			—			—			6,873
Net realized gain (loss)		—		—			9,685			—			—			9,685
Net change in unrealized appreciation (depreciation)^(d)		56		—			(289,169	)		—			—			(289,113	)
Purchases		—		—			1,818,765			—			—			1,818,765
Sales		—		—			(2,038,210	)		—			—			(2,038,210	)


Closing balance, as of March 31, 2022	$	542	$	—	^(a)	$	25,725,443			—	^(a)		—		$	25,725,985


Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2022^(d)	$	56	$	—		$	(263,645	)		—			—		$	(263,589	)

^(a)

Rounds to less than $1.

^(b)

As of December 31, 2021, the Trust used observable inputs in determining the value of certain investments. As of March 31, 2022, the Trust used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy.

^(c)

As of December 31, 2021, the Trust used significant unobservable inputs in determining the value of certain investments. As of March 31, 2022, the Trust 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, 2022 is generally due to investments no longer held or categorized as Level 3 at period end.

The Trust’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

GBP		British Pound

USD		United States Dollar

Portfolio Abbreviation

DIP		Debtor-In-Possession

ETF		Exchange-Traded Fund

LIBOR		London Interbank Offered Rate

PIK		Payment-in-Kind


Portfolio Abbreviation (continued)

SOFR		Secured Overnight Financing Rate

SONIA		Sterling Overnight Interbank Average Rate


SCHEDULE OF INVESTMENTS		12

BlackRock Floating Rate Income Trust (BGT) NPORT-PBlackRock Floating Rate Income Trust (Mar 2022 report)