BlackRock Credit Allocation Income Trust (BTZ) NPORT-P BlackRock Credit Allocation Income Trust (Sep 2020 report)

Schedule of Investments  (unaudited)  September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Asset-Backed Securities
Allegro CLO II-S Ltd., Series 2014-1RA, Class B, (3 mo. LIBOR US + 2.15%), 2.42%, 10/21/28(a)(b)	$	500	$	489,726
Allegro CLO VI Ltd.(a)(b)
Series 2017-2A, Class B, (3 mo. LIBOR US + 1.50%), 1.77%, 01/17/31		360		349,044
Series 2017-2A, Class C, (3 mo. LIBOR US + 1.80%), 2.07%, 01/17/31		2,400		2,260,776
ALM VII R Ltd.(a)(b)
Series 2013-7R2A, Class A2R2, (3 mo. LIBOR US + 1.65%), 1.93%, 10/15/27		750		737,897
Series 2013-7R2A, Class BR2, (3 mo. LIBOR US + 2.20%), 2.48%, 10/15/27		400		383,143
ALM XVI Ltd./ALM XVI LLC(a)(b)
Series 2015-16A, Class BR2, (3 mo. LIBOR US + 1.90%), 2.18%, 07/15/27		1,000		973,803
Series 2015-16A, Class CR2, (3 mo. LIBOR US + 2.70%), 2.94%, 07/15/27		1,000		968,127
American Airlines Group, Inc., 5.18%, 08/15/23(c)		1,867		1,636,357
Anchorage Capital CLO Ltd.(a)(b)
Series 2013-1A, Class BR, (3 mo. LIBOR US + 2.15%), 2.42%, 10/13/30		1,000		970,158
Series 2014-3RA, Class C, (3 mo. LIBOR US + 1.85%), 2.10%, 01/28/31		1,000		968,319
Anchorage Capital CLO R Ltd., Series 2014-3RA, Class D, (3 mo. LIBOR US + 2.60%), 2.85%, 01/28/31(a)(b)		1,000		937,614
Apidos CLO XV, Series 2013-15A, Class DRR, (3 mo. LIBOR US + 2.70%), 2.97%, 04/20/31(a)(b)		1,000		931,833
Apidos CLO XX, Series 2015-20A, Class BRR, (3 mo. LIBOR US + 1.95%), 2.22%, 07/16/31(a)(b)		1,000		942,065
Ares XLIX CLO Ltd., Series 2018-49A, Class D, (3 mo. LIBOR US + 3.00%), 3.26%, 07/22/30(a)(b)		1,000		952,340
ARES XLVII CLO Ltd., Series 2018-47A, Class D, (3 mo. LIBOR US + 2.70%), 2.98%, 04/15/30(a)(b)		1,500		1,402,672
Ares XLVIII CLO Ltd., Series 2018-48A, Class C, (3 mo. LIBOR US + 1.80%), 2.07%, 07/20/30(a)(b)		500		463,300
Ares XXXVII CLO Ltd.(a)(b)
Series 2015-4A, Class A3R, (3 mo. LIBOR US + 1.50%), 1.78%, 10/15/30		1,000		972,697
Series 2015-4A, Class BR, (3 mo. LIBOR US + 1.80%), 2.08%, 10/15/30		1,750		1,660,361
Atlas Senior Loan Fund VII Ltd.(a)(b)
Series 2016-7A, Class A1R, (3 mo. LIBOR US + 1.28%), 1.53%, 11/27/31		1,988		1,962,156
Series 2016-7A, Class B1R, (3 mo. LIBOR US + 1.80%), 2.05%, 11/27/31		550		538,892
Atlas Senior Loan Fund XII Ltd., Series 2018-12A, Class A1, (3 mo. LIBOR US + 1.18%), 1.44%, 10/24/31(a)(b)		400		393,820
Atrium XV, Series 15A, Class C, (3 mo. LIBOR US + 2.20%), 2.46%, 01/23/31(a)(b)		250		235,601
Benefit Street Partners Clo XII Ltd., Series 2017-12A, Class B, (3 mo. LIBOR US + 2.00%), 2.28%, 10/15/30(a)(b)		1,000		942,644
Cedar Funding VI CLO Ltd., Series 2016-6A, Class BR, (3 mo. LIBOR US + 1.60%), 1.87%, 10/20/28(a)(b)		250		244,452

Security	Par (000)		Value
Asset-Backed Securities (continued)
Cent CLO Ltd.(a)(b)
Series 2018-1A, Class D, (3 mo. LIBOR US + 2.89%), 3.16%, 07/16/31	$	500	$	479,344
Series C17A, Class BR, (3 mo. LIBOR US + 1.85%), 2.12%, 04/30/31		1,000		955,837
CIFC Funding II Ltd.(a)(b)
Series 2013-2A, Class A3LR, (3 mo. LIBOR US + 1.95%), 2.22%, 10/18/30		1,000		964,774
Series 2013-2A, Class B1LR, (3 mo. LIBOR US + 3.05%), 3.32%, 10/18/30		1,000		942,461
CIFC Funding Ltd.(a)(b)
Series 2014-4RA, Class A2, (3 mo. LIBOR US + 1.65%), 1.92%, 10/17/30		600		597,316
Series 2014-4RA, Class B, (3 mo. LIBOR US + 2.20%), 2.47%, 10/17/30		400		385,004
Series 2018-1A, Class C, (3 mo. LIBOR US + 1.75%), 2.02%, 04/18/31		1,000		925,980
Series 2018-1A, Class D, (3 mo. LIBOR US + 2.65%), 2.92%, 04/18/31		1,200		1,121,099
Elevation CLO Ltd., Series 2017-7A, Class C, (3 mo. LIBOR US + 1.90%), 2.18%, 07/15/30(a)(b)		1,500		1,405,352
Galaxy XX CLO Ltd., Series 2015-20A, Class D1R, (3 mo. LIBOR US + 2.60%), 2.87%, 04/20/31(a)(b)		1,000		927,109
Greenwood Park CLO Ltd., Series 2018-1A, Class D, (3 mo. LIBOR US + 2.50%), 2.78%, 04/15/31(a)(b)		1,000		932,573
Highbridge Loan Management Ltd.(a)(b)
Series 12A-18, Class B, (3 mo. LIBOR US + 1.85%), 2.12%, 07/18/31		1,250		1,178,963
Series 4A-2014, Class A2R, (3 mo. LIBOR US + 1.50%), 1.75%, 01/28/30		650		630,476
Series 6A-2015, Class BR, (3 mo. LIBOR US + 1.75%), 2.00%, 02/05/31		1,500		1,408,500
Limerock CLO III LLC, Series 2014-3A, Class C, (3 mo. LIBOR US + 3.60%), 3.87%, 10/20/26(a)(b)		1,000		991,076
Long Point Park CLO Ltd., Series 2017-1A, Class B, (3 mo. LIBOR US + 1.70%), 1.97%, 01/17/30(a)(b)		1,000		949,315
Madison Park Funding XIII Ltd., Series 2014-13A,
Class CR2, (3 mo. LIBOR US + 1.90%), 2.17%, 04/19/30(a)(b)		1,000		945,827
Madison Park Funding XV Ltd., Series 2014-15A, Class B1R, (3 mo. LIBOR US + 2.20%), 2.44%, 01/27/26(a)(b)		2,000		1,986,845
Madison Park Funding XXVII Ltd.(a)(b)
Series 2018-27A, Class B, (3 mo. LIBOR US + 1.80%), 2.07%, 04/20/30		1,000		943,403
Series 2018-27A, Class C, (3 mo. LIBOR US + 2.60%), 2.87%, 04/20/30		1,000		920,333
Marble Point CLO XI Ltd., Series 2017-2A, Class B, (3 mo. LIBOR US + 1.50%), 1.77%, 12/18/30(a)(b)		1,000		963,949
MP CLO III Ltd., Series 2013-1A, Class CR, (3 mo. LIBOR US + 2.00%), 2.27%, 10/20/30(a)(b)		1,000		952,157
Neuberger Berman CLO XV, Series 2013-15A, Class CR, (3 mo. LIBOR US + 2.05%), 2.33%, 10/15/29(a)(b)		1,000		963,087
Neuberger Berman CLO XVIII Ltd., Series 2014-18A, Class CR2, 3.27%, 10/21/30(a)(d)		2,700		2,533,485
Neuberger Berman CLO XXI Ltd.(a)(b)
Series 2016-21A, Class CR, (3 mo. LIBOR US + 1.60%), 1.87%, 04/20/27		1,000		938,301

SCHEDULE OF INVESTMENTS 1

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Asset-Backed Securities (continued)
Neuberger Berman CLO XXI Ltd.(a)(b) (continued)
Series 2016-21A, Class DR, (3 mo. LIBOR US + 2.40%), 2.67%, 04/20/27	$	1,000	$	957,045
Neuberger Berman CLO XXII Ltd.(a)(b)
Series 2016-22A, Class BR, (3 mo. LIBOR US + 1.65%), 1.92%, 10/17/30		400		391,288
Series 2016-22A, Class CR, (3 mo. LIBOR US + 2.20%), 2.47%, 10/17/30		1,000		958,299
Neuberger Berman Loan Advisers CLO Ltd.(a)(b)
Series 2017-26A, Class A, (3 mo. LIBOR US + 1.17%), 1.39%, 10/18/30		2,000		1,983,707
Series 2017-26A, Class B, (3 mo. LIBOR US + 1.50%), 1.77%, 10/18/30		1,000		987,997
Series 2017-26A, Class C, (3 mo. LIBOR US + 1.75%), 2.02%, 10/18/30		1,500		1,428,150
Series 2018-27A, Class D, (3 mo. LIBOR US + 2.60%), 2.88%, 01/15/30		1,000		925,214
Oak Hill Credit Partners X-R Ltd., Series 2014-10RA, Class C, (3 mo. LIBOR US + 2.20%), 2.47%, 12/12/30(a)(b)		300		288,355
OCP CLO Ltd.(a)
Series 2014-6A, Class BR, 2.42%, 10/17/30(d)		500		473,499
Series 2015-10A, Class CR, (3 mo. LIBOR US + 2.60%), 2.84%, 10/26/27(b)		600		569,620
Series 2016-11A, Class BR, (3 mo. LIBOR US + 2.45%), 2.69%, 10/26/30(b)		1,500		1,442,849
Series 2016-12A, Class BR, 2.47%, 10/18/28(d)		1,000		981,340
Series 2017-14A, Class B, (3 mo. LIBOR US + 1.95%), 2.20%, 11/20/30(b)		1,000		936,330
Octagon Investment Partners 26 Ltd., Series 2016-1A, Class DR, (3 mo. LIBOR US + 2.85%), 3.13%, 07/15/30(a)(b)		500		466,755
Octagon Investment Partners 34 Ltd., Series 2017-1A, Class B1, (3 mo. LIBOR US + 1.40%), 1.67%, 01/20/30(a)(b)		1,000		966,469
Octagon Investment Partners Ltd., Series 2017-1A, Class C, (3 mo. LIBOR US + 2.75%), 3.02%, 01/20/31(a)(b)		1,000		939,641
Octagon Investment Partners XIV Ltd., Series 2012-1A, Class A1AR, (3 mo. LIBOR US + 1.17%), 1.45%, 07/15/29(a)(b)		1,000		993,357
Octagon Investment Partners XVII Ltd.(a)(b)
Series 2013-1A, Class BR2, (3 mo. LIBOR US + 1.40%), 1.64%, 01/25/31		1,000		971,908
Series 2013-1A, Class CR2, (3 mo. LIBOR US + 1.70%), 1.94%, 01/25/31		1,000		922,831
Octagon Investment Partners XXII Ltd., Series 2014-1A, Class CRR, (3 mo. LIBOR US + 1.90%), 2.16%, 01/22/30(a)(b)		900		866,924
OHA Credit Partners XII Ltd., Series 2015-12A, Class DR, (3 mo. LIBOR US + 2.90%), 3.16%, 07/23/30(a)(b)		600		558,700
OHA Loan Funding Ltd., Series 2015-1A, Class DR2, (3 mo. LIBOR US + 4.00%), 4.28%, 11/15/32(a)(b)		1,000		989,725
OZLM XXI Ltd., Series 2017-21A, Class B, (3 mo. LIBOR US + 1.90%), 2.17%, 01/20/31(a)(b)		1,800		1,677,553
Palmer Square CLO Ltd.(a)(b) Series 2013-2A, Class A2RR, (3 mo. LIBOR US + 1.75%), 2.02%, 10/17/31		650		640,886

Security	Par (000)		Value
Asset-Backed Securities (continued)
Palmer Square CLO Ltd.(a)(b) (continued)
Series 2013-2A, Class BRR, (3 mo. LIBOR US + 2.20%), 2.47%, 10/17/31	$	750	$	722,170
Series 2013-2A, Class CRR, (3 mo. LIBOR US + 3.20%), 3.47%, 10/17/31		250		239,014
Series 2018-1A, Class A2, (3 mo. LIBOR US + 1.45%), 1.72%, 04/18/31		1,500		1,466,213
Series 2019-1A, Class C, (3 mo. LIBOR US + 3.75%), 4.01%, 11/14/32		1,000		991,726
Park Avenue Institutional Advisers CLO Ltd.,
Series 2019-1A, Class C, (3 mo. LIBOR US + 3.85%), 4.13%, 05/15/32(a)(b)		1,500		1,478,140
Recette Clo Ltd., Series 2015-1A, Class CR, (3 mo. LIBOR US + 1.70%), 1.97%, 10/20/27(a)(b)		1,500		1,472,670
Regatta VII Funding Ltd., Series 2016-1A, Class DR, (3 mo. LIBOR US + 2.75%), 2.98%, 12/20/28(a)(b)		500		466,525
Regatta XVI Funding Ltd.(a)(b)
Series 2019-2A, Class C, (3 mo. LIBOR US + 2.70%), 2.98%, 01/15/33		1,000		984,006
Series 2019-2A, Class D, (3 mo. LIBOR US + 3.90%), 4.18%, 01/15/33		1,000		999,984
Rockford Tower CLO Ltd.(a)(b)
Series 2017-3A, Class A, (3 mo. LIBOR US + 1.19%), 1.41%, 10/20/30		2,000		1,991,901
Series 2017-3A, Class D, (3 mo. LIBOR US + 2.65%), 2.92%, 10/20/30		1,000		927,677
RR Ltd., Series 2018-5A, Class C, (3 mo. LIBOR US + 3.10%), 3.38%, 10/15/31(a)(b)		650		610,350
Sound Point Clo XXI Ltd., Series 2018-3A, Class A1A, (3 mo. LIBOR US + 1.18%), 1.42%, 10/26/31(a)(b)		1,400		1,382,885
Stewart Park CLO Ltd., Series 2015-1A, Class DR, (3 mo. LIBOR US + 2.60%), 2.88%, 01/15/30(a)(b)		1,500		1,413,266
Tiaa CLO III Ltd., Series 2017-2A, Class A, (3 mo. LIBOR US + 1.15%), 1.38%, 01/16/31(a)(b)		2,500		2,466,903
TICP CLO IX Ltd., Series 2017-9A, Class A, (3 mo. LIBOR US + 1.14%), 1.41%, 01/20/31(a)(b)		1,000		990,003
TICP CLO XIII Ltd., Series 2019-13A, Class D, (3 mo. LIBOR US + 3.45%), 3.73%, 07/15/32(a)(b)		500		498,336
York CLO Ltd.(a)(b)
Series 2014-1A, Class ARR, (3 mo. LIBOR US + 1.12%), 1.38%, 10/22/29		2,000		1,980,013
Series 2015-1A, Class CR, (3 mo. LIBOR US + 1.85%), 2.11%, 01/22/31		1,500		1,435,873
Series 2015-1A, Class DR, (3 mo. LIBOR US + 2.60%), 2.86%, 01/22/31		1,800		1,650,152
Total Asset-Backed Securities — 6.8% (Cost: $98,286,753)				94,746,612
Corporate Bonds
Advertising Agencies — 0.2%
Interpublic Group of Cos., Inc., 5.40%, 10/01/48		2,215		2,607,557
Aerospace & Defense — 4.0%
Boeing Co., 5.15%, 05/01/30		6,775		7,615,159
Bombardier, Inc.(a) 8.75%, 12/01/21(e)		1,794		1,817,178
5.75%, 03/15/22		280		271,320
6.00%, 10/15/22		5		4,638
6.13%, 01/15/23		52		44,460
7.50%, 12/01/24		166		127,404

2

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Aerospace & Defense (continued)
Bombardier, Inc.(a) (continued) 7.50%, 03/15/25	$	114	$	85,500
7.88%, 04/15/27(e)		1,527		1,158,138
F-Brasile SpA/F-Brasile US LLC, Series XR, 7.38%, 08/15/26(a)		516		436,020
General Dynamics Corp., 4.25%, 04/01/50		1,260		1,645,627
General Electric Co., 3.63%, 05/01/30		2,340		2,423,335
Howmet Aerospace, Inc., 5.13%, 10/01/24		685		726,100
Kratos Defense & Security Solutions, Inc., 6.50%, 11/30/25(a)		1,010		1,054,400
Lockheed Martin Corp., 2.80%, 06/15/50		1,965		2,065,305
Moog, Inc., 4.25%, 12/15/27(a)		320		327,216
Northrop Grumman Corp. 4.03%, 10/15/47		2,400		2,938,424
5.25%, 05/01/50		3,050		4,375,215
Raytheon Technologies Corp., 3.13%, 07/01/50		3,545		3,781,023
Signature Aviation US Holdings, Inc.(a)     5.38%, 05/01/26		441		445,410
4.00%, 03/01/28		541		503,130
TransDigm, Inc.(a) 8.00%, 12/15/25		1,596		1,735,650
6.25%, 03/15/26(e)		15,876		16,579,227
Triumph Group, Inc., 8.88%, 06/01/24(a)		1,536		1,635,840
United Technologies Corp., 4.63%, 11/16/48		2,805		3,663,587
Wolverine Escrow LLC, 9.00%, 11/15/26(a)		249		205,425
				55,664,731
Air Freight & Logistics — 0.0%
XPO Logistics, Inc., 6.75%, 08/15/24(a)		43		45,546
Airlines — 0.7%
American Airlines Group, Inc., 5.18%, 10/15/23(c)		2,082		1,686,844
Delta Air Lines Pass-Through Trust, Series 02G1, 6.72%, 01/02/23		2,130		2,052,083
Delta Air Lines, Inc., 7.00%, 05/01/25(a)		174		191,056
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27(a)		2,349		2,445,896
Turkish Airlines Pass-Through Trust, Series 2015-1, Class A, 4.20%, 03/15/27(a)		2,058		1,637,755
United Airlines Pass-Through Trust, Series B, 4.75%, 04/11/22(e)		2,289		2,102,983
				10,116,617
Auto Components — 1.0%
BorgWarner, Inc., 2.65%, 07/01/27		2,710		2,859,912
Clarios Global LP, 6.75%, 05/15/25(a)		552		580,980
Clarios Global LP/Clarios US Finance Co.(a)
6.25%, 05/15/26(e)		5,334		5,592,966
8.50%, 05/15/27		4,961		5,122,232
				14,156,090
Automobiles — 2.8%
Allison Transmission, Inc.(a) 5.00%, 10/01/24		385		388,873
5.88%, 06/01/29		1,049		1,134,493
Asbury Automotive Group, Inc.(a) 4.50%, 03/01/28		197		198,231
4.75%, 03/01/30		191		192,433
Ford Motor Co., 7.45%, 07/16/31(e)		3,660		4,222,725
Ford Motor Credit Co. LLC 5.88%, 08/02/21(e)		9,420		9,596,625
4.06%, 11/01/24		200		199,750

Security	Par (000)		Value
Automobiles (continued)
Ford Motor Credit Co. LLC (continued) 5.13%, 06/16/25	$	1,070	$	1,103,438
General Motors Co. 4.88%, 10/02/23		1,875		2,040,249
6.25%, 10/02/43		940		1,113,960
5.95%, 04/01/49(e)		3,455		4,048,347
General Motors Financial Co., Inc. 4.25%, 05/15/23		931		988,997
2.75%, 06/20/25		4,235		4,332,905
Group 1 Automotive, Inc., 4.00%, 08/15/28(a)		360		353,700
Nissan Motor Co. Ltd., 4.81%, 09/17/30(a)		7,125		7,167,784
Penske Automotive Group, Inc. 3.50%, 09/01/25		541		538,795
5.50%, 05/15/26		1,160		1,196,633
Tesla, Inc., 5.30%, 08/15/25(a)		785		812,475
				39,630,413
Banks — 2.4%
CIT Group, Inc., 5.00%, 08/01/23		370		383,875
Credit Suisse AG, 6.50%, 08/08/23(a)(e)		6,000		6,795,000
Fifth Third Bancorp, (3 mo. LIBOR US + 3.03%), 5.10%(f)(g)		5,000		4,601,875
Intesa Sanpaolo SpA, 5.71%, 01/15/26(a)(e)		9,840		10,728,244
Santander Holdings USA, Inc., 4.40%, 07/13/27		830		914,216
Truist Financial Corp., Series L, (3 mo. LIBOR US + 3.10%), 5.05%(f)(g)		5,270		5,019,517
Wells Fargo & Co., 5.61%, 01/15/44(e)		4,119		5,621,886
				34,064,613
Banks: Diversified — 0.0%
Encompass Health Corp., 5.75%, 11/01/24		372		372,558
Beverages — 2.2%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 02/01/46(e)		6,170		7,607,792
Anheuser-Busch InBev Worldwide, Inc., 5.55%, 01/23/49(e)		5,000		6,721,922
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27(a)(h)		2,049		2,038,345
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., 5.25%, 08/15/27(a)		1,437		1,464,303
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.(a) 5.25%, 04/30/25		472		493,240
4.13%, 08/15/26		1,315		1,333,081
5.25%, 08/15/27		225		229,275
Ball Corp. 5.25%, 07/01/25		30		33,958
4.88%, 03/15/26		352		392,480
2.88%, 08/15/30		907		896,796
Crown Cork & Seal Co., Inc., 7.38%, 12/15/26		151		179,124
Keurig Dr. Pepper, Inc., 4.60%, 05/25/28(e)		3,215		3,860,798
Trivium Packaging Finance BV(a)(e) 5.50%, 08/15/26		2,830		2,930,394
8.50%, 08/15/27		2,517		2,713,892
				30,895,400
Biotechnology — 0.6%
Baxalta, Inc., 5.25%, 06/23/45(e)		6,000		8,331,049
Building Materials(a) — 0.3%
Forterra Finance LLC/FRTA Finance Corp., 6.50%, 07/15/25		722		762,829

SCHEDULE OF INVESTMENTS 3

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Building Materials (continued)
Jeld-Wen, Inc. 4.63%, 12/15/25	$	96	$	96,480
4.88%, 12/15/27		74		75,410
Masonite International Corp. 5.75%, 09/15/26		282		293,985
5.38%, 02/01/28		271		289,004
Standard Industries, Inc. 5.00%, 02/15/27		303		315,120
4.38%, 07/15/30		1,046		1,072,427
3.38%, 01/15/31		1,435		1,416,338
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29		386		401,922
				4,723,515
Building Products(a) — 0.1%
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26		721		733,618
SRS Distribution, Inc., 8.25%, 07/01/26		674		719,495
				1,453,113
Capital Markets — 0.7%
Icahn Enterprises LP/Icahn Enterprises Finance Corp. 4.75%, 09/15/24		520		526,500
6.38%, 12/15/25		316		324,837
6.25%, 05/15/26		782		815,235
5.25%, 05/15/27		1,995		2,078,391
Jefferies Financial Group, Inc., 5.50%, 10/18/23(e)		4,000		4,401,899
State Street Corp., (Secured Overnight Financing Rate + 2.65%), 3.15%, 03/30/31(a)(g)		840		958,235
				9,105,097
Chemicals — 2.4%
Atotech Alpha 2 BV, (8.75% Cash or 9.50% PIK), 8.75%, 06/01/23(a)(h)		500		501,250
Axalta Coating Systems LLC, 4.88%, 08/15/24(a)		715		728,406
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27(a)		372		380,370
Chemours Co., 6.63%, 05/15/23		381		385,570
DuPont de Nemours, Inc., 5.42%, 11/15/48(e)		7,500		10,028,630
Element Solutions, Inc., 3.88%, 09/01/28(a)		2,643		2,593,444
GCP Applied Technologies, Inc., 5.50%, 04/15/26(a)		299		304,980
LYB Finance Co. BV, 8.10%, 03/15/27(a)(e)		6,000		7,930,747
NOVA Chemicals Corp., 4.88%, 06/01/24(a)		240		238,278
Nutrition & Biosciences, Inc., 3.47%, 12/01/50(a)		4,765		4,811,112
Valvoline, Inc., 4.25%, 02/15/30(a)		453		462,060
WESCO Distribution, Inc.(a) 7.13%, 06/15/25		1,485		1,617,610
7.25%, 06/15/28		1,354		1,483,544
WR Grace & Co-Conn(a) 5.63%, 10/01/24		1,493		1,586,313
4.88%, 06/15/27		623		643,372
				33,695,686
Commercial Services & Supplies — 1.3%
ADT Security Corp. 4.13%, 06/15/23		174		182,004
4.88%, 07/15/32(a)		1,140		1,151,400
AerCap Global Aviation Trust, (3 mo. LIBOR US + 4.30%), 6.50%, 06/15/45(a)(g)		5,000		4,250,000
ASGN, Inc., 4.63%, 05/15/28(a)		290		291,195
Aviation Capital Group LLC, 6.75%, 04/06/21(a)		7,850		8,002,119

Security	Par (000)		Value
Commercial Services & Supplies (continued)
Herc Holdings, Inc., 5.50%, 07/15/27(a)	$	796	$	823,581
Prime Security Services Borrower LLC/Prime Finance, Inc.(a) 5.75%, 04/15/26		252		269,484
3.38%, 08/31/27		856		821,114
6.25%, 01/15/28		712		720,900
United Rentals North America, Inc. 4.63%, 10/15/25		461		471,372
3.88%, 11/15/27		381		392,430
4.88%, 01/15/28		777		815,850
5.25%, 01/15/30		44		48,015
4.00%, 07/15/30		344		352,600
				18,592,064
Communications Equipment(a) — 0.3%
Avaya, Inc., 6.13%, 09/15/28		1,254		1,278,578
CommScope Technologies LLC, 6.00%, 06/15/25		696		705,431
CommScope, Inc. 5.50%, 03/01/24		1,114		1,144,713
6.00%, 03/01/26		1,084		1,130,070
8.25%, 03/01/27		69		71,760
				4,330,552
Construction & Engineering(a) — 0.1%
frontdoor, Inc., 6.75%, 08/15/26		272		289,680
ServiceMaster Co. LLC, 5.13%, 11/15/24		413		422,293
				711,973
Construction Materials(a) — 0.9%
American Builders & Contractors Supply Co., Inc.
5.88%, 05/15/26		101		104,788
4.00%, 01/15/28		764		776,415
Core & Main LP, 6.13%, 08/15/25		2,671		2,705,523
HD Supply, Inc., 5.38%, 10/15/26(e)		5,161		5,398,612
IAA, Inc., 5.50%, 06/15/27		1,054		1,097,477
KAR Auction Services, Inc., 5.13%, 06/01/25		446		445,991
Picasso Finance Sub, Inc., 6.13%, 06/15/25		1,015		1,093,297
Williams Scotsman International, Inc., 4.63%, 08/15/28		541		543,186
Wolverine Escrow LLC, 8.50%, 11/15/24		435		356,700
				12,521,989
Consumer Discretionary(a) — 0.1%
Nielsen Finance LLC/Nielsen Finance Co. 5.63%, 10/01/28		768		794,342
5.88%, 10/01/30		589		609,615
				1,403,957
Consumer Finance — 1.8%
Global Payments, Inc., 2.90%, 05/15/30		4,715		5,045,097
HSBC Finance Corp., 6.68%, 01/15/21(e)		5,150		5,209,959
MPH Acquisition Holdings LLC, 7.13%, 06/01/24(a)		1,575		1,618,076
Navient Corp. 7.25%, 09/25/23		498		514,185
6.13%, 03/25/24		59		59,443
5.00%, 03/15/27		329		308,941
OneMain Finance Corp. 7.13%, 03/15/26		1,231		1,375,273
6.63%, 01/15/28		506		561,559
5.38%, 11/15/29		57		59,280
Refinitiv US Holdings, Inc.(a) 6.25%, 05/15/26(e)		3,374		3,610,180

4

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Consumer Finance (continued)
Refinitiv US Holdings, Inc.(a) (continued) 8.25%, 11/15/26	$	1,389	$	1,520,955
Sabre GLBL, Inc., 5.25%, 11/15/23(a)		36		35,190
Verscend Escrow Corp., 9.75%, 08/15/26(a)		3,791		4,121,916
WEX, Inc., 4.75%, 02/01/23(a)		610		610,763
				24,650,817
Containers & Packaging — 1.7%
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26		224		231,840
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26		526		545,725
Graphic Packaging International LLC, 3.50%, 03/01/29(a)		479		481,994
International Paper Co.(e)
8.70%, 06/15/38		4,000		6,171,055
7.30%, 11/15/39		10,000		14,617,084
LABL Escrow Issuer LLC, 6.75%, 07/15/26(a)		742		782,810
Sealed Air Corp., 6.88%, 07/15/33(a)		182		233,415
				23,063,923
Diversified Consumer Services — 0.7%
Allied Universal Holdco LLC/Allied Universal Finance Corp.(a)
6.63%, 07/15/26(e)		5,419		5,771,235
9.75%, 07/15/27(e)		1,271		1,380,967
Ascend Learning LLC, 6.88%, 08/01/25		1,611		1,644,138
Garda World Security Corp., 9.50%, 11/01/27(a)		346		363,300
Service Corp. International
5.13%, 06/01/29		468		518,605
3.38%, 08/15/30		585		585,731
				10,263,976
Diversified Financial Services — 4.8%
Ally Financial, Inc., 8.00%, 11/01/31		3,727		5,102,727
Barclays PLC 4.84%, 05/09/28(e)		4,000		4,301,513
(3 mo. LIBOR US + 1.90%), 4.97%, 05/16/29(g)		3,220		3,767,937
Citigroup, Inc.(e) 6.68%, 09/13/43		4,125		6,332,406
Series V, (Secured Overnight Financing Rate + 3.23%), 4.70%(f)(g)		5,465		5,280,556
Credit Suisse Group AG, (5 year USD Swap + 4.60%), 7.50%(a)(f)(g)		3,250		3,542,500
Doric Nimrod Air Alpha Pass-Through Trust, Series 2013-1, Class A, 5.25%, 05/30/23(a)		1,084		969,996
Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24(a)(h)		315		167,087
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.(a)
5.25%, 03/15/22		480		470,544
4.25%, 02/01/27		178		153,970
Lloyds Banking Group PLC, 4.65%, 03/24/26(e)		8,650		9,619,182
Royal Bank of Scotland Group PLC 6.10%, 06/10/23		2,500		2,764,505
6.00%, 12/19/23(e)		10,080		11,336,149
5.13%, 05/28/24(e)		5,250		5,757,401
Spectrum Brands, Inc. 5.75%, 07/15/25		1,002		1,033,062

Security	Par (000)		Value
Diversified Financial Services (continued)
Spectrum Brands, Inc. (continued) 5.00%, 10/01/29(a)	$	72	$	74,700
UniCredit SPA, (5 year CMT + 4.75%), 5.46%, 06/30/35(a)(g)		6,135		6,250,031
				66,924,266
Diversified Telecommunication Services — 7.4%
AT&T, Inc. 4.65%, 06/01/44		28		31,833
4.35%, 06/15/45		95		106,440
3.50%, 09/15/53(a)(e)		15,960		15,430,512
3.55%, 09/15/55(a)		727		704,589
CenturyLink, Inc. 5.63%, 04/01/25(e)		1,909		2,039,504
5.13%, 12/15/26(a)		1,767		1,815,398
4.00%, 02/15/27(a)		1,436		1,458,847
Series P, 7.60%, 09/15/39		684		772,838
Series S, 6.45%, 06/15/21		1,176		1,206,870
Series U, 7.65%, 03/15/42		1,231		1,375,642
Series Y, 7.50%, 04/01/24(e)		564		631,454
Cincinnati Bell, Inc.(a) 7.00%, 07/15/24		222		228,525
8.00%, 10/15/25		132		139,425
Consolidated Communications, Inc., 6.50%, 10/01/28(a)(i)		444		452,880
Frontier Communications Corp.(a) 8.50%, 04/01/26		499		502,992
8.00%, 04/01/27		3,676		3,663,299
Intelsat Jackson Holdings SA, 8.00%, 02/15/24(a)		1,040		1,055,600
Level 3 Financing, Inc. 5.38%, 05/01/25		614		633,040
4.63%, 09/15/27(a)		1,175		1,207,312
3.63%, 01/15/29(a)		964		951,950
Sprint Capital Corp. 6.88%, 11/15/28		1,709		2,136,250
8.75%, 03/15/32		811		1,187,150
Switch Ltd., 3.75%, 09/15/28(a)		688		694,880
Telecom Italia Capital SA 6.38%, 11/15/33		442		525,980
6.00%, 09/30/34		818		948,880
7.20%, 07/18/36		186		234,583
7.72%, 06/04/38		319		424,270
Telecom Italia SpA, 5.30%, 05/30/24(a)		1,662		1,799,115
Telefonica Emisiones SAU, 5.21%, 03/08/47		5,000		5,941,276
Verizon Communications, Inc.(e) 5.15%, 09/15/23		8,775		9,943,943
6.40%, 09/15/33		9,475		13,743,264
6.55%, 09/15/43		13,225		21,527,402
5.01%, 04/15/49		6,998		10,072,668
				103,588,611
Electric Utilities — 3.4%
Emera, Inc., Series 16-A, (3 mo. LIBOR US + 5.44%), 6.75%, 06/15/76(g)		7,500		8,325,000
NextEra Energy Capital Holdings, Inc., (3 mo. LIBOR US + 2.41%), 4.80%, 12/01/77(g)		5,000		5,368,074
NextEra Energy Operating Partners LP(a) 4.25%, 07/15/24		1,215		1,266,881
4.25%, 09/15/24		290		302,325
4.50%, 09/15/27		108		115,290
Oncor Electric Delivery Co. LLC, 5.30%, 06/01/42		2,750		3,892,718

SCHEDULE OF INVESTMENTS 5

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Electric Utilities (continued)
PG&E Corp., 5.25%, 07/01/30	$	739	$	714,983
Pike Corp., 5.50%, 09/01/28(a)		374		376,315
Progress Energy, Inc., 7.00%, 10/30/31(e)		12,000		17,084,630
Puget Energy, Inc. 6.00%, 09/01/21		275		288,182
5.63%, 07/15/22(e)		5,550		5,947,212
Sempra Energy, (5 year CMT + 4.55%), 4.88%(f)(g)		4,375		4,495,312
				48,176,922
Electrical Equipment — 0.1%
Gates Global LLC/Gates Global Co., 6.25%, 01/15/26(a)		714		735,984
Electronic Equipment, Instruments & Components — 0.4%
BWX Technologies, Inc., 5.38%, 07/15/26(a)		737		765,559
CDW LLC/CDW Finance Corp. 5.50%, 12/01/24		1,782		1,944,607
4.13%, 05/01/25		487		502,828
3.25%, 02/15/29		886		882,677
Energizer Holdings, Inc.(a) 6.38%, 07/15/26		198		212,890
7.75%, 01/15/27(e)		236		257,830
4.75%, 06/15/28		693		717,186
4.38%, 03/31/29		41		41,410
				5,324,987
Energy Equipment & Services — 0.1%
Archrock Partners LP/Archrock Partners Finance Corp.(a) 6.88%, 04/01/27		231		221,270
6.25%, 04/01/28		60		56,550
USA Compression Partners LP/USA Compression Finance Corp. 6.88%, 04/01/26		655		649,269
6.88%, 09/01/27		815		808,170
				1,735,259
Environmental, Maintenance, & Security Service — 0.5%
Clean Harbors, Inc., 5.13%, 07/15/29(a)		1,278		1,386,464
Covanta Holding Corp., 5.00%, 09/01/30		206		207,916
GFL Environmental, Inc.(a) 3.75%, 08/01/25		587		590,243
7.00%, 06/01/26(e)		1,005		1,059,471
5.13%, 12/15/26(e)		2,020		2,085,852
8.50%, 05/01/27(e)		562		609,770
Tervita Corp., 7.63%, 12/01/21(a)		415		378,687
Waste Pro USA, Inc., 5.50%, 02/15/26(a)		1,010		1,022,110
				7,340,513
Equity Real Estate Investment Trusts (REITs) — 1.8%
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 5.75%, 05/15/26(a)		383		301,831
Hilton Domestic Operating Co. Inc., 5.75%, 05/01/28(a)		451		475,241
Hilton Domestic Operating Co., Inc. 4.25%, 09/01/24		633		629,835
5.38%, 05/01/25(a)		319		333,132
5.13%, 05/01/26		1,492		1,535,671
4.88%, 01/15/30		1,979		2,038,370
Host Hotels & Resorts LP, Series D, 3.75%, 10/15/23(e)		3,600		3,714,039

Security	Par (000)		Value
Equity Real Estate Investment Trusts (REITs) (continued)
Iron Mountain, Inc.(a) 4.88%, 09/15/27	$	606	$	617,976
4.88%, 09/15/29		77		78,348
5.25%, 07/15/30		909		947,632
4.50%, 02/15/31		193		194,814
5.63%, 07/15/32		1,024		1,081,344
Marriott International, Inc., Series EE, 5.75%, 05/01/25		1,295		1,445,246
Marriott Ownership Resorts, Inc./ILG LLC, 6.50%, 09/15/26		186		190,970
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc.
5.63%, 05/01/24		4,627		4,905,916
4.50%, 09/01/26		1,658		1,682,066
4.50%, 01/15/28		430		438,062
MPT Operating Partnership LP/MPT Finance Corp. 5.00%, 10/15/27		2,841		2,962,311
4.63%, 08/01/29		1,047		1,089,372
RHP Hotel Properties LP/RHP Finance Corp., 4.75%, 10/15/27		1,230		1,133,962
				25,796,138
Food & Staples Retailing — 2.0%
Albertsons Cos., Inc. 5.75%, 03/15/25		246		253,761
5.88%, 02/15/28(a)		928		990,640
4.88%, 02/15/30(a)		389		405,532
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.63%, 01/15/27(a)		1,740		1,780,351
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertson’s LLC, 3.25%, 03/15/26(a)		1,296		1,286,047
General Mills, Inc. 4.20%, 04/17/28		620		731,965
2.88%, 04/15/30		725		794,906
Kraft Heinz Foods Co. 3.88%, 05/15/27(a)		127		134,520
4.25%, 03/01/31(a)		1,627		1,785,064
5.00%, 07/15/35		297		341,994
7.13%, 08/01/39(a)(e)		4,415		5,951,140
4.63%, 10/01/39(a)		100		106,165
5.00%, 06/04/42		12		13,141
5.20%, 07/15/45		9		9,839
4.38%, 06/01/46		219		225,007
4.88%, 10/01/49(a)		479		505,497
5.50%, 06/01/50(a)		2,866		3,284,595
Lamb Weston Holdings, Inc., 4.88%, 05/15/28(a)		734		792,720
Post Holdings, Inc.(a) 5.63%, 01/15/28		428		454,147
4.63%, 04/15/30		1,329		1,367,209
Walmart, Inc., 5.25%, 09/01/35(e)		5,150		7,441,319
				28,655,559
Food Products(a) — 0.7%
Aramark Services, Inc. 5.00%, 04/01/25		1,367		1,386,685
6.38%, 05/01/25		1,038		1,081,259
5.00%, 02/01/28		929		935,967
Darling Ingredients, Inc., 5.25%, 04/15/27		479		502,950
JBS USA LUX SA/JBS USA Finance, Inc. 5.88%, 07/15/24		269		274,299
5.75%, 06/15/25		2,093		2,152,755

6

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Food Products (continued)
JBS USA LUX SA/JBS USA Finance, Inc. (continued) 6.75%, 02/15/28	$	399	$	432,915
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 6.50%, 04/15/29		2,039		2,263,229
Simmons Foods, Inc., 7.75%, 01/15/24		395		413,763
				9,443,822
Health Care Equipment & Supplies — 0.7%
Avantor Funding, Inc., 4.63%, 07/15/28(a)		2,351		2,439,162
Avantor, Inc., 6.00%, 10/01/24(a)(e)		5,881		6,145,645
Hologic, Inc.(a) 4.63%, 02/01/28		226		237,386
3.25%, 02/15/29		292		293,825
Medtronic, Inc., 4.63%, 03/15/45(e)		647		890,669
				10,006,687
Health Care Providers & Services — 4.6%
Aetna, Inc., 3.88%, 08/15/47		3,500		3,909,870
AHP Health Partners, Inc., 9.75%, 07/15/26(a)		460		493,350
Anthem, Inc., 4.55%, 03/01/48(e)		5,000		6,300,473
Centene Corp. 5.25%, 04/01/25(a)		776		806,458
5.38%, 08/15/26(a)		1,457		1,543,218
4.25%, 12/15/27		1,849		1,934,849
4.63%, 12/15/29		3,232		3,486,229
3.38%, 02/15/30		172		178,450
3.00%, 10/15/30(i)		934		952,867
CHS/Community Health Systems, Inc.(a) 8.63%, 01/15/24		1,343		1,336,285
6.63%, 02/15/25		425		411,188
8.00%, 03/15/26		1,340		1,317,220
HCA, Inc. 5.38%, 09/01/26		665		734,825
5.63%, 09/01/28		1,297		1,483,703
5.88%, 02/01/29		420		489,300
3.50%, 09/01/30		2,622		2,671,503
5.25%, 06/15/49		3,500		4,284,493
LifePoint Health, Inc.(a) 6.75%, 04/15/25		409		430,473
4.38%, 02/15/27		491		491,614
Molina Healthcare, Inc. 5.38%, 11/15/22		295		308,275
4.38%, 06/15/28(a)		568		579,644
Polaris Intermediate Corp., (8.50% Cash or 9.25% PIK), 8.50%, 12/01/22(a)(h)		1,054		1,072,160
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health Inc., 9.75%, 12/01/26(a)		72		76,500
Surgery Center Holdings, Inc.(a) 6.75%, 07/01/25		375		373,125
10.00%, 04/15/27		514		547,410
Teleflex, Inc., 4.25%, 06/01/28(a)		906		937,710
Tenet Healthcare Corp. 8.13%, 04/01/22		1,108		1,231,985
4.63%, 07/15/24		1,145		1,150,725
4.63%, 09/01/24(a)		882		889,162
7.50%, 04/01/25(a)		387		416,025
4.88%, 01/01/26(a)(e)		3,913		3,984,060
6.25%, 02/01/27(a)		297		306,566
5.13%, 11/01/27(a)		2,318		2,381,050

Security	Par (000)		Value
Health Care Providers & Services (continued)
Tenet Healthcare Corp. (continued) 4.63%, 06/15/28(a)	$	311	$	315,478
6.13%, 10/01/28(a)		940		914,150
UnitedHealth Group, Inc., 6.88%, 02/15/38(e)		10,000		16,107,129
				64,847,522
Health Care Technology — 0.1%
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.75%, 03/01/25(a)		650		659,295
Hotels, Restaurants & Leisure — 2.3%
1011778 BC ULC/New Red Finance, Inc.(a) 4.25%, 05/15/24		306		311,646
5.75%, 04/15/25		654		698,145
5.00%, 10/15/25(e)		1,619		1,660,058
3.88%, 01/15/28		1,559		1,588,309
4.38%, 01/15/28		2,509		2,558,678
4.00%, 10/15/30(i)		136		137,049
Boyd Gaming Corp. 8.63%, 06/01/25(a)		169		185,271
6.38%, 04/01/26		505		525,801
6.00%, 08/15/26		330		340,312
4.75%, 12/01/27		393		385,631
Caesars Entertainment, Inc.(a) 6.25%, 07/01/25		3,215		3,360,463
8.13%, 07/01/27		1,921		2,036,260
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25(a)		1,048		1,080,750
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25(a)		1,111		1,144,330
Churchill Downs, Inc.(a) 5.50%, 04/01/27		2,042		2,131,440
4.75%, 01/15/28		282		283,410
Golden Nugget, Inc., 6.75%, 10/15/24(a)		1,269		1,059,615
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC(a) 5.00%, 06/01/24		600		615,180
5.25%, 06/01/26		399		414,561
Las Vegas Sands Corp. 3.50%, 08/18/26		96		97,283
3.90%, 08/08/29		88		87,983
McDonald’s Corp., 4.20%, 04/01/50(e)		480		584,206
MGM Resorts International 7.75%, 03/15/22		1,059		1,116,239
6.00%, 03/15/23		1,335		1,384,936
Scientific Games International, Inc.(a) 8.63%, 07/01/25		442		461,216
5.00%, 10/15/25		270		271,350
8.25%, 03/15/26		1,763		1,840,731
7.00%, 05/15/28		451		452,104
7.25%, 11/15/29		218		221,270
Six Flags Theme Parks, Inc., 7.00%, 07/01/25(a)		1,648		1,753,060
Vail Resorts, Inc., 6.25%, 05/15/25(a)		341		361,886
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27(a)		602		559,860
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.13%, 10/01/29(a)		850		809,625

SCHEDULE OF INVESTMENTS 7

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Hotels, Restaurants & Leisure (continued)
Yum! Brands, Inc. 7.75%, 04/01/25(a)	$	909	$	1,008,126
4.75%, 01/15/30(a)		324		349,920
3.63%, 03/15/31		281		281,000
				32,157,704
Household Durables — 0.6%
Brookfield Residential Properties, Inc./Brookfield
Residential U.S. Corp., 4.88%, 02/15/30(a)		770		720,728
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25(a)		507		534,885
Lennar Corp. 2.95%, 11/29/20		520		520,000
8.38%, 01/15/21		1,515		1,541,512
4.75%, 11/15/22		1,605		1,669,200
4.88%, 12/15/23		466		501,533
4.75%, 05/30/25		134		146,245
5.25%, 06/01/26		890		999,025
Mattamy Group Corp., 4.63%, 03/01/30(a)		524		530,602
NCR Corp.(a) 5.75%, 09/01/27		512		535,291
5.00%, 10/01/28		241		241,193
6.13%, 09/01/29		175		185,311
5.25%, 10/01/30		245		245,000
PulteGroup, Inc. 5.00%, 01/15/27		106		119,913
7.88%, 06/15/32		56		77,000
Toll Brothers Finance Corp., 4.35%, 02/15/28		35		37,975
				8,605,413
Independent Power and Renewable Electricity Producers — 1.1%
Calpine Corp.(a) 5.25%, 06/01/26		1,351		1,403,527
4.50%, 02/15/28		1,386		1,419,458
5.13%, 03/15/28		3,575		3,700,125
4.63%, 02/01/29		1,181		1,178,786
5.00%, 02/01/31		1,232		1,255,777
Clearway Energy Operating LLC 5.75%, 10/15/25		545		572,250
4.75%, 03/15/28(a)		1,032		1,065,540
NRG Energy, Inc. 6.63%, 01/15/27		2,688		2,842,560
5.75%, 01/15/28		52		56,095
5.25%, 06/15/29(a)		1,189		1,293,037
TerraForm Power Operating LLC(a) 4.25%, 01/31/23		370		379,206
5.00%, 01/31/28		231		252,870
4.75%, 01/15/30		226		238,995
				15,658,226
Insurance — 3.9%
Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer, 6.75%, 10/15/27(a)		2,837		2,976,353
American International Group, Inc., (3 mo. LIBOR US + 4.20%), 8.18%, 05/15/58(g)		3,755		5,370,780
AmWINS Group, Inc., 7.75%, 07/01/26(a)		167		178,690
Aon PLC, 4.25%, 12/12/42(e)		6,500		7,567,359
Farmers Exchange Capital II, (3 mo. LIBOR US + 3.74%), 6.15%, 11/01/53(a)(g)		4,890		5,993,763
Global Atlantic Fin Co., 8.63%, 04/15/21(a)(e)		3,400		3,509,420
HUB International Ltd., 7.00%, 05/01/26(a)		1,724		1,786,495

Security	Par (000)		Value
Insurance (continued)
Northwestern Mutual Life Insurance Co., 6.06%, 03/30/40(a)(e)	$	12,000	$	17,361,663
Principal Financial Group, Inc., (3 mo. LIBOR US + 3.04%), 3.32%, 05/15/55(g)		5,000		4,473,500
Progressive Corp., Series B, (3 mo. LIBOR US + 2.54%), 5.38%(f)(g)		5,000		5,000,000
				54,218,023
Interactive Media & Services — 0.4%
Cablevision Lightpath LLC(a) 3.88%, 09/15/27		368		368,000
5.63%, 09/15/28		340		344,998
Netflix, Inc. 3.63%, 06/15/25(a)		210		219,371
5.88%, 11/15/28		1,698		2,026,062
5.38%, 11/15/29(a)		1,934		2,279,509
4.88%, 06/15/30(a)		487		555,180
Twitter, Inc., 3.88%, 12/15/27(a)		299		307,223
				6,100,343
Internet Software & Services — 1.3%
Booking Holdings, Inc. 3.55%, 03/15/28		3,375		3,765,126
4.63%, 04/13/30		2,185		2,625,044
Expedia Group, Inc., 6.25%, 05/01/25(a)(e)		5,550		6,121,145
Go Daddy Operating Co. LLC/GD Finance Co., Inc., 5.25%, 12/01/27(a)		370		385,011
Match Group Holdings II LLC, 4.13%, 08/01/30(a)		517		522,977
Uber Technologies, Inc.(a) 7.50%, 11/01/23		706		735,440
7.50%, 05/15/25		1,590		1,694,288
8.00%, 11/01/26		47		50,092
7.50%, 09/15/27		1,266		1,354,620
6.25%, 01/15/28		440		451,968
				17,705,711
IT Services — 1.1%
Banff Merger Sub, Inc., 9.75%, 09/01/26(a)		2,404		2,541,268
Booz Allen Hamilton, Inc., 3.88%, 09/01/28(a)		932		956,745
BY Crown Parent LLC/BY Bond Finance, Inc., 4.25%, 01/31/26(a)		1,231		1,253,312
Camelot Finance SA, 4.50%, 11/01/26(a)		1,575		1,606,500
Dun & Bradstreet Corp.(a) 6.88%, 08/15/26		1,210		1,299,600
10.25%, 02/15/27		822		928,860
Fidelity National Information Services, Inc., 5.00%, 10/15/25		538		640,485
Leidos, Inc., 4.38%, 05/15/30(a)		2,215		2,595,869
Presidio Holdings, Inc., 4.88%, 02/01/27(a)		329		332,290
Rackspace Technology Global, Inc., 8.63%, 11/15/24(a)(e)		527		551,874
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 6.75%, 06/01/25(a)		2,026		2,067,756
				14,774,559
Leisure Products — 0.1%
Mattel, Inc. 6.75%, 12/31/25(a)(e)		886		934,730
5.88%, 12/15/27(a)		503		541,354

8

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Leisure Products (continued)
Mattel, Inc. (continued) 6.20%, 10/01/40	$	44	$	42,634
5.45%, 11/01/41		236		220,687
				1,739,405
Machinery(a) — 0.4%
Colfax Corp. 6.00%, 02/15/24		734		760,608
6.38%, 02/15/26		894		947,640
RBS Global, Inc./Rexnord LLC, 4.88%, 12/15/25		878		890,072
Titan Acquisition Ltd/Titan Co-Borrower LLC, 7.75%, 04/15/26		1,160		1,154,200
Vertical Holdco GmbH, 7.63%, 07/15/28		200		211,375
Vertical US Newco, Inc., 5.25%, 07/15/27		1,547		1,607,743
				5,571,638
Media — 9.5%
Altice Financing SA(a) 7.50%, 05/15/26		2,172		2,299,127
5.00%, 01/15/28		863		838,189
Altice France Holding SA(a) 10.50%, 05/15/27		4,098		4,553,903
6.00%, 02/15/28		934		890,840
CCO Holdings LLC/CCO Holdings Capital Corp.(a) 5.13%, 05/01/27(e)		3,132		3,295,553
5.00%, 02/01/28		162		170,100
5.38%, 06/01/29		1,983		2,149,076
4.75%, 03/01/30		353		373,739
4.50%, 08/15/30		3,937		4,134,027
4.25%, 02/01/31		1,913		1,982,752
4.50%, 05/01/32		2,723		2,842,131
Charter Communications Operating LLC/Charter
Communications Operating Capital 6.38%, 10/23/35		479		656,900
6.48%, 10/23/45(e)		��       9,584		12,854,570
5.38%, 05/01/47		1,500		1,781,042
6.83%, 10/23/55		3,540		4,902,779
Clear Channel Worldwide Holdings, Inc. 9.25%, 02/15/24		1,258		1,219,505
5.13%, 08/15/27(a)(e)		6,050		5,809,513
Comcast Corp. 3.75%, 04/01/40		545		637,366
4.95%, 10/15/58		3,795		5,437,602
Connect Finco Sarl/Connect US Finco LLC, 6.75%, 10/01/26(a)(e)		5,110		5,126,097
Cox Communications, Inc., 8.38%, 03/01/39(a)		5,000		8,160,373
CSC Holdings LLC 5.25%, 06/01/24		1,061		1,137,923
5.50%, 05/15/26(a)		1,352		1,406,080
5.38%, 02/01/28(a)		336		354,900
7.50%, 04/01/28(a)		877		967,813
5.75%, 01/15/30(a)		406		431,375
4.13%, 12/01/30(a)		1,305		1,330,121
4.63%, 12/01/30(a)		3,854		3,882,905
3.38%, 02/15/31(a)		836		809,457
Diamond Sports Group LLC/Diamond Sports Finance Co., 5.38%, 08/15/26(a)		1,332		942,390
Discovery Communications LLC, 4.88%, 04/01/43		4,000		4,624,998
DISH DBS Corp. 5.88%, 07/15/22		2,545		2,646,800
5.88%, 11/15/24		164		168,182

Security	Par (000)		Value
Media (continued)
DISH DBS Corp. (continued) 7.75%, 07/01/26	$	1,883	$	2,070,095
Fox Corp., 3.05%, 04/07/25		475		520,136
Gray Television, Inc., 7.00%, 05/15/27(a)		415		449,917
Hughes Satellite Systems Corp., 5.25%, 08/01/26		351		373,169
iHeartCommunications, Inc. 6.38%, 05/01/26		370		385,438
5.25%, 08/15/27(a)		376		366,600
4.75%, 01/15/28(a)		184		173,410
Lamar Media Corp. 5.75%, 02/01/26		282		291,165
4.00%, 02/15/30(a)		307		307,000
LCPR Senior Secured Financing DAC, 6.75%, 10/15/27(a)		1,155		1,206,975
Lions Gate Capital Holdings LLC, 6.38%, 02/01/24(a)		253		250,470
Live Nation Entertainment, Inc., 6.50%, 05/15/27(a)		2,164		2,335,475
Meredith Corp., 6.88%, 02/01/26		144		120,240
Outfront Media Capital LLC/Outfront Media Capital Corp., 5.00%, 08/15/27(a)		920		897,000
Qualitytech LP/QTS Finance Corp., 4.75%, 11/15/25(a)		105		108,906
Radiate Holdco LLC/Radiate Finance, Inc.(a) 4.50%, 09/15/26		1,356		1,355,715
6.50%, 09/15/28		2,205		2,259,601
Sirius XM Radio, Inc.(a) 5.00%, 08/01/27		626		652,605
5.50%, 07/01/29		1,669		1,790,003
4.13%, 07/01/30		904		920,950
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28(a)		1,000		1,050,000
Telesat Canada/Telesat LLC, 4.88%, 06/01/27(a)		1,566		1,572,342
Time Warner Cable LLC, 6.55%, 05/01/37		3,519		4,678,379
Viacom, Inc., (3 mo. LIBOR US + 3.90%), 5.88%, 02/28/57(g)		2,111		2,136,870
ViacomCBS, Inc., 5.85%, 09/01/43		1,300		1,649,045
Videotron Ltd., 5.13%, 04/15/27(a)		999		1,050,948
Virgin Media Secured Finance PLC(a) 5.50%, 08/15/26		487		507,698
5.50%, 05/15/29		1,761		1,890,345
4.50%, 08/15/30		754		774,690
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28(a)		1,652		1,647,870
WMG Acquisition Corp.(a) 3.88%, 07/15/30		437		450,632
3.00%, 02/15/31		147		142,921
Zayo Group Holdings, Inc.(a) 4.00%, 03/01/27		5,175		5,093,364
6.13%, 03/01/28		2,281		2,354,448
Ziggo Bond Co. BV, 6.00%, 01/15/27(a)		955		987,231
Ziggo BV(a) 5.50%, 01/15/27		874		915,515
4.88%, 01/15/30		682		705,870
				133,261,166
Metals & Mining — 2.4%
AngloGold Ashanti Holdings PLC, 5.13%, 08/01/22		5,000		5,259,375
Arconic Corp.(a) 6.00%, 05/15/25		802		856,476
6.13%, 02/15/28		552		566,835

SCHEDULE OF INVESTMENTS 9

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Metals & Mining (continued)
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29(a)	$	1,638	$	1,656,264
Commercial Metals Co., 4.88%, 05/15/23(e)		2,194		2,281,760
Constellium SE(a)
6.63%, 03/01/25(e)		609		623,083
5.88%, 02/15/26		1,701		1,745,294
Freeport-McMoRan, Inc.
4.38%, 08/01/28		1,102		1,139,418
4.63%, 08/01/30		1,131		1,189,190
5.40%, 11/14/34		2,250		2,489,062
5.45%, 03/15/43		2,707		3,001,467
Grinding Media, Inc./Moly-Cop AltaSteel Ltd., 7.38%, 12/15/23(a)		817		827,213
Kaiser Aluminum Corp., 4.63%, 03/01/28(a)		704		656,480
New Gold, Inc., 7.50%, 07/15/27(a)		862		918,030
Novelis Corp.(a)
5.88%, 09/30/26		1,876		1,927,590
4.75%, 01/30/30		2,718		2,669,674
Southern Copper Corp., 5.88%, 04/23/45		3,870		5,251,590
				33,058,801
Multiline Retail — 0.0%
Nordstrom, Inc., 8.75%, 05/15/25(a)		297		325,469
Multi-Utilities — 0.2%
NiSource, Inc., 3.60%, 05/01/30		2,200		2,506,839
Offshore Drilling & Other Services — 0.1%
Lam Research Corp., 4.88%, 03/15/49		875		1,238,532
Oil, Gas & Consumable Fuels — 15.4%
Aker BP ASA(a)
4.75%, 06/15/24		1,169		1,200,448
5.88%, 03/31/25		570		592,697
Apache Corp., 4.88%, 11/15/27		470		444,150
Ascent Resources Utica Holdings LLC/ARU Finance Corp., 10.00%, 04/01/22(a)		1,161		1,143,585
Brand Industrial Services, Inc., 8.50%, 07/15/25(a)		984		929,880
Buckeye Partners LP
4.13%, 03/01/25(a)		594		564,300
4.50%, 03/01/28(a)		821		791,239
5.85%, 11/15/43		327		302,915
5.60%, 10/15/44		290		257,220
Callon Petroleum Co.
6.25%, 04/15/23		224		71,680
6.13%, 10/01/24		16		4,560
8.25%, 07/15/25		817		220,590
6.38%, 07/01/26		106		25,970
Cenovus Energy, Inc.
3.00%, 08/15/22		183		178,383
3.80%, 09/15/23		104		100,463
5.38%, 07/15/25		1,381		1,329,126
5.40%, 06/15/47		77		65,053
Cheniere Energy Partners LP
5.63%, 10/01/26		380		395,200
4.50%, 10/01/29		1,206		1,237,079
Cheniere Energy, Inc., 4.63%, 10/15/28(a)		2,872		2,947,390
Cimarex Energy Co., 4.38%, 06/01/24		38		40,786
CNOOC Petroleum North America ULC, 6.40%, 05/15/37		2,000		2,920,000
CNX Resources Corp., 7.25%, 03/14/27(a)		418		426,360
Comstock Resources, Inc. 7.50%, 05/15/25(a)		569		534,860

Security	Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
Comstock Resources, Inc. (continued) 9.75%, 08/15/26	$	724	$	742,245
Concho Resources, Inc., 4.88%, 10/01/47		3,815		4,215,192
Continental Resources, Inc., 4.90%, 06/01/44		3,500		2,636,095
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 5.63%, 05/01/27(a)		567		506,484
CrownRock LP/CrownRock Finance, Inc., 5.63%, 10/15/25(a)		2,479		2,336,458
CVR Energy, Inc.(a)
5.25%, 02/15/25		526		457,620
5.75%, 02/15/28		175		148,750
DCP Midstream Operating LP
5.38%, 07/15/25		120		123,730
5.63%, 07/15/27		438		448,074
5.13%, 05/15/29		48		47,280
6.45%, 11/03/36(a)		247		236,695
6.75%, 09/15/37(a)		1,527		1,465,920
Diamondback Energy, Inc.
4.75%, 05/31/25		2,170		2,340,861
3.50%, 12/01/29		692		670,842
eG Global Finance PLC(a)
6.75%, 02/07/25		503		514,946
8.50%, 10/30/25		587		617,818
El Paso Natural Gas Co. LLC, 8.63%, 01/15/22		2,345		2,569,529
Enbridge, Inc.(g)
(3 mo. LIBOR US + 3.64%), 6.25%, 03/01/78		5,000		5,075,000
Series 16-A, (3 mo. LIBOR US + 3.89%), 6.00%, 01/15/77		5,880		5,909,400
Endeavor Energy Resources LP/EER Finance, Inc.(a)
6.63%, 07/15/25		322		330,855
5.50%, 01/30/26		2,136		2,119,980
5.75%, 01/30/28		518		520,590
Energy Transfer Operating LP
5.20%, 02/01/22(e)		10,200		10,569,748
4.25%, 03/15/23		553		574,977
5.88%, 01/15/24(e)		3,366		3,705,924
5.50%, 06/01/27		406		447,041
6.13%, 12/15/45		3,579		3,592,569
Series B, (3 mo. LIBOR US + 4.16%), 6.63%(f)(g)		5,000		3,398,500
EnLink Midstream LLC, 5.38%, 06/01/29		188		152,280
EnLink Midstream Partners LP
4.40%, 04/01/24		613		551,700
4.15%, 06/01/25		48		41,329
4.85%, 07/15/26		64		55,367
5.60%, 04/01/44		399		256,358
5.05%, 04/01/45		43		27,305
Enterprise Products Operating LLC
4.90%, 05/15/46(e)		5,375		6,057,593
Series E, (3 mo. LIBOR US + 3.03%), 5.25%, 08/16/77(g)		4,800		4,570,800
EOG Resources, Inc., 4.38%, 04/15/30		2,965		3,493,615
EQM Midstream Partners LP, 4.13%, 12/01/26		226		215,375
EQT Corp.
3.90%, 10/01/27		791		728,214
8.75%, 02/01/30		374		441,320
Extraction Oil & Gas, Inc.(a)(j)(k)
7.38%, 05/15/24		718		179,500
5.63%, 02/01/26		1,546		386,500
Exxon Mobil Corp., 3.45%, 04/15/51		3,890		4,274,154
Genesis Energy LP/Genesis Energy Finance Corp., 7.75%, 02/01/28		293		254,573

10

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
Harvest Midstream I LP, 7.50%, 09/01/28(a)	$	660	$	656,700
Hess Corp., 5.80%, 04/01/47		5,000		5,481,236
Hess Midstream Operations LP, 5.63%, 02/15/26(a)		402		409,529
Indigo Natural Resources LLC, 6.88%, 02/15/26(a)		934		909,044
Kinder Morgan, Inc.
7.80%, 08/01/31		197		272,605
7.75%, 01/15/32(e)		4,586		6,384,759
Marathon Petroleum Corp.
4.75%, 12/15/23		1,230		1,348,093
4.70%, 05/01/25		4,280		4,836,712
5.13%, 12/15/26		937		1,086,306
Matador Resources Co., 5.88%, 09/15/26		1,218		1,018,187
MEG Energy Corp.(a)
7.00%, 03/31/24		130		120,900
6.50%, 01/15/25		1,486		1,457,647
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc., 4.63%, 06/15/25(a)		958		977,160
MPLX LP
4.13%, 03/01/27		825		906,876
5.20%, 03/01/47		3,500		3,816,209
4.70%, 04/15/48(e)		5,000		5,074,507
5.50%, 02/15/49		2,640		2,965,049
Murphy Oil Corp.
5.75%, 08/15/25		49		42,746
6.38%, 12/01/42		47		36,895
Murphy Oil USA, Inc., 4.75%, 09/15/29		383		407,895
New Fortress Energy, Inc., 6.75%, 09/15/25(a)		1,930		2,017,815
NGPL PipeCo LLC, 7.77%, 12/15/37(a)		1,117		1,421,833
NuStar Logistics LP, 6.00%, 06/01/26		373		374,052
Occidental Petroleum Corp.
2.70%, 08/15/22		505		471,857
2.90%, 08/15/24		745		632,080
3.20%, 08/15/26		52		41,243
3.00%, 02/15/27		10		7,842
4.30%, 08/15/39		915		634,241
6.20%, 03/15/40		1,221		1,011,721
4.50%, 07/15/44		557		398,603
4.63%, 06/15/45		822		593,895
4.40%, 04/15/46		902		640,609
4.10%, 02/15/47		110		74,261
4.20%, 03/15/48		914		628,375
4.40%, 08/15/49		161		112,717
Parsley Energy LLC/Parsley Finance Corp.(a)
5.25%, 08/15/25		598		592,020
5.63%, 10/15/27		951		946,245
PBF Holding Co. LLC/PBF Finance Corp., 9.25%, 05/15/25(a)		65		66,626
PDC Energy, Inc.
6.25%, 12/01/25		135		125,550
5.75%, 05/15/26		759		704,769
Petroleos Mexicanos
3.50%, 01/30/23		5,000		4,911,431
4.63%, 09/21/23(e)		3,965		3,918,094
4.88%, 01/18/24		2,000		1,975,000
Plains All American Pipeline LP, Series B, (3 mo. LIBOR US + 4.11%), 6.13%(f)(g)		2,215		1,405,196
QEP Resources, Inc.
5.38%, 10/01/22		1,847		1,514,540
5.25%, 05/01/23		500		363,750

Security	Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
QEP Resources, Inc. (continued)
5.63%, 03/01/26	$	317	$	179,898
Range Resources Corp.
5.88%, 07/01/22		280		271,600
5.00%, 08/15/22		559		539,267
5.00%, 03/15/23(e)		551		523,450
Rattler Midstream LP, 5.63%, 07/15/25(a)		530		533,975
Rockies Express Pipeline LLC, 6.88%, 04/15/40(a)		580		597,864
Sabine Pass Liquefaction LLC
5.63%, 04/15/23(e)		10,510		11,512,339
5.75%, 05/15/24		2,575		2,916,130
5.88%, 06/30/26		1,481		1,751,274
SM Energy Co.
6.13%, 11/15/22		52		40,454
10.00%, 01/15/25(a)		1,298		1,233,100
Southwestern Energy Co.
4.10%, 03/15/22		550		543,125
6.45%, 01/23/25		214		207,313
7.50%, 04/01/26		130		127,075
Sunoco LP/Sunoco Finance Corp.
4.88%, 01/15/23		672		675,360
6.00%, 04/15/27		141		144,878
5.88%, 03/15/28		317		324,133
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 5.50%, 09/15/24(a)		284		266,960
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
5.13%, 02/01/25		136		135,660
5.88%, 04/15/26		669		686,862
5.38%, 02/01/27		5		5,028
6.50%, 07/15/27		228		237,690
5.00%, 01/15/28		869		847,275
6.88%, 01/15/29		1,404		1,501,859
5.50%, 03/01/30(a)		836		836,878
4.88%, 02/01/31(a)		678		656,592
TransCanada PipeLines Ltd., 4.88%, 05/15/48		4,000		4,974,273
Transcanada Trust, (3 mo. LIBOR US + 3.53%), 5.63%, 05/20/75(g)		2,755		2,803,212
Transocean, Inc., 11.50%, 01/30/27(a)		294		120,599
Viper Energy Partners LP, 5.38%, 11/01/27(a)		382		376,270
Western Midstream Operating LP
5.38%, 06/01/21(e)		5,125		5,163,437
5.45%, 04/01/44		12		10,260
5.30%, 03/01/48		1,180		949,900
5.50%, 08/15/48		16		13,200
6.25%, 02/01/50		1,160		1,074,450
Williams Cos., Inc.
3.70%, 01/15/23		2,245		2,372,594
4.55%, 06/24/24		527		584,010
8.75%, 03/15/32		2,478		3,532,136
5.10%, 09/15/45(e)		5,075		5,691,348
WPX Energy, Inc.
6.00%, 01/15/22		72		74,160
8.25%, 08/01/23		811		916,430
5.25%, 09/15/24		22		22,930
5.75%, 06/01/26		501		518,535
5.25%, 10/15/27		200		203,000
5.88%, 06/15/28		314		328,130
4.50%, 01/15/30		180		176,964
				215,728,337

SCHEDULE OF INVESTMENTS 11

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Personal Products — 0.0%
Edgewell Personal Care Co., 5.50%, 06/01/28(a)	$	385	$	405,109
Pharmaceuticals — 5.0%
AbbVie Inc., 2.80%, 03/15/23(a)		3,000		3,136,303
AbbVie, Inc.(e) 5.00%, 12/15/21(a)		1,631		1,700,723
4.75%, 03/15/45(a)		5,485		6,628,579
4.70%, 05/14/45		3,255		4,007,885
Bausch Health Americas, Inc., 8.50%, 01/31/27(a)		1,552		1,705,260
Bausch Health Cos., Inc.(a) 5.50%, 03/01/23		1,777		1,770,336
5.88%, 05/15/23		42		41,790
6.13%, 04/15/25		504		515,970
5.50%, 11/01/25		280		287,350
9.00%, 12/15/25		1,531		1,665,422
5.75%, 08/15/27		326		345,968
7.00%, 01/15/28		536		568,160
5.00%, 01/30/28		37		35,936
6.25%, 02/15/29		1,122		1,154,044
7.25%, 05/30/29		1,242		1,338,255
Catalent Pharma Solutions, Inc., 5.00%, 07/15/27(a)		1,051		1,093,040
Charles River Laboratories International, Inc.(a)
5.50%, 04/01/26		806		848,315
4.25%, 05/01/28		425		446,033
CVS Health Corp.(e) 5.13%, 07/20/45		3,879		4,901,074
5.05%, 03/25/48		8,205		10,472,931
Elanco Animal Health, Inc., 5.90%, 08/28/28		421		486,255
Endo Dac/Endo Finance LLC/Endo Finco, Inc.(a)
9.50%, 07/31/27		295		308,275
6.00%, 06/30/28		271		199,185
IQVIA, Inc.(a) 5.00%, 10/15/26		554		578,930
5.00%, 05/15/27		1,192		1,249,895
Jaguar Holding Co. II/PPD Development LP(a)
4.63%, 06/15/25		1,179		1,214,370
5.00%, 06/15/28		1,101		1,149,169
MEDNAX, Inc.(a) 5.25%, 12/01/23		323		327,038
6.25%, 01/15/27		426		441,958
Merck & Co., Inc., 6.50%, 12/01/33(e)		6,420		10,045,043
Par Pharmaceutical, Inc., 7.50%, 04/01/27(a)		3,021		3,165,041
Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30(e)		8,270		8,351,415
				70,179,948
Producer Durables: Miscellaneous(a) — 0.5%
Boxer Parent Co., Inc. 7.13%, 10/02/25		850		907,851
9.13%, 03/01/26		336		356,160
Genesys Telecommunications Laboratories, Inc./Greeneden Lux 3 Sarl/Greeneden US Ho, 10.00%, 11/30/24		1,430		1,514,370
Open Text Corp., 3.88%, 02/15/28		1,031		1,042,918
Open Text Holdings, Inc., 4.13%, 02/15/30		1,734		1,783,315

Security	Par (000)		Value
Producer Durables: Miscellaneous (continued)
Sophia LP/Sophia Finance, Inc., 9.00%, 09/30/23	$	480	$	480,288
Veritas US, Inc./Veritas Bermuda Ltd., 7.50%, 02/01/23		684		682,434
				6,767,336
Professional Services(a) — 0.1%
Gartner, Inc. 4.50%, 07/01/28		746		784,233
3.75%, 10/01/30		940		950,857
				1,735,090
Real Estate Management & Development(a) — 0.4%
Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25		183		182,908
Greystar Real Estate Partners LLC, 5.75%, 12/01/25		360		362,700
Howard Hughes Corp., 5.38%, 08/01/28		762		761,611
Northwest Florida Timber Finance LLC, 4.75%, 03/04/29		4,485		4,898,545
				6,205,764
Road & Rail — 1.9%
BNSF Funding Trust I, (3 mo. LIBOR US + 2.35%), 6.61%, 12/15/55(g)		6,125		6,990,163
CSX Corp., 3.80%, 04/15/50		770		916,427
Norfolk Southern Corp., 6.00%, 03/15/05(e)		12,700		17,972,062
				25,878,652
Semiconductors & Semiconductor Equipment — 2.9%
Analog Devices, Inc., 2.95%, 04/01/25		2,010		2,186,111
Broadcom, Inc. 4.70%, 04/15/25(e)		5,865		6,664,473
5.00%, 04/15/30		10,970		12,940,182
Microchip Technology, Inc., 4.25%, 09/01/25(a)		2,061		2,138,409
NVIDIA Corp. 3.50%, 04/01/50(e)		2,785		3,259,227
3.70%, 04/01/60		1,760		2,098,259
NXP BV/NXP Funding LLC/NXP USA, Inc., 3.40%, 05/01/30(a)		1,755		1,921,214
ON Semiconductor Corp., 3.88%, 09/01/28(a)		728		738,247
Qorvo, Inc., 3.38%, 04/01/31(a)		879		893,284
QUALCOMM, Inc., 4.30%, 05/20/47(e)		3,500		4,495,765
Sensata Technologies BV(a) 5.63%, 11/01/24		695		754,075
5.00%, 10/01/25		572		614,900
Sensata Technologies, Inc.(a) 4.38%, 02/15/30		1,390		1,459,500
3.75%, 02/15/31		562		558,487
				40,722,133
Software — 1.1%
ANGI Group LLC, 3.88%, 08/15/28(a)		582		576,180
Black Knight InfoServ LLC, 3.63%, 09/01/28(a)		859		868,127
CDK Global, Inc. 5.88%, 06/15/26		378		394,065
4.88%, 06/01/27		606		637,815
5.25%, 05/15/29(a)		1,590		1,693,350
MSCI, Inc., 3.88%, 02/15/31(a)		1,392		1,450,742
PTC, Inc.(a) 3.63%, 02/15/25		406		412,090

12

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Software (continued)
PTC, Inc.(a) (continued) 4.00%, 02/15/28	$	867	$	891,124
Solera LLC/Solera Finance, Inc., 10.50%, 03/01/24(a)		1,831		1,913,395
SS&C Technologies, Inc., 5.50%, 09/30/27(a)		4,404		4,680,219
Veritas US, Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25(a)		1,340		1,381,875
				14,898,982
Specialty Retail — 0.4%
Gap, Inc., 8.88%, 05/15/27(a)		350		398,125
L Brands, Inc. 6.88%, 07/01/25(a)		604		652,320
6.88%, 11/01/35		1,119		1,102,556
PetSmart, Inc.(a) 7.13%, 03/15/23		588		593,145
5.88%, 06/01/25		2,317		2,371,681
Staples, Inc., 7.50%, 04/15/26(a)		1,117		1,032,287
				6,150,114
Technology Hardware, Storage & Peripherals(a) — 0.5%
Dell International LLC/EMC Corp. 5.88%, 06/15/21		407		407,509
7.13%, 06/15/24		1,233		1,282,554
5.85%, 07/15/25		2,395		2,790,635
8.35%, 07/15/46		2,355		3,111,455
				7,592,153
Telecommunications Equipment — 0.2%
Nokia OYJ, 6.63%, 05/15/39		324		401,376
ViaSat, Inc.(a) 5.63%, 04/15/27		1,286		1,322,972
6.50%, 07/15/28		1,149		1,150,666
				2,875,014
Textiles, Apparel & Luxury Goods — 0.1%
Hanesbrands, Inc., 5.38%, 05/15/25(a)		273		288,015
Levi Strauss & Co., 5.00%, 05/01/25		270		276,244
William Carter Co., 5.63%, 03/15/27(a)		365		380,969
				945,228
Thrifts & Mortgage Finance — 0.1%
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 5.25%, 10/01/25(a)		268		248,235
MGIC Investment Corp., 5.25%, 08/15/28		436		449,701
Nationstar Mortgage Holdings, Inc.(a)
6.00%, 01/15/27		654		666,661
5.50%, 08/15/28		565		564,294
				1,928,891
Tobacco — 2.0%
Altria Group, Inc., 10.20%, 02/06/39(e)		13,392		22,586,847
BAT Capital Corp., 4.54%, 08/15/47		3,000		3,212,622
Reynolds American, Inc., 5.85%, 08/15/45		2,335		2,837,363
				28,636,832
Transportation Infrastructure — 0.6%
FedEx Corp., 5.25%, 05/15/50		6,000		8,106,369
Utilities(a) — 0.4%
Midland Cogeneration Venture LP, 5.25%, 03/15/25(e)		2,443		2,403,935
Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 08/15/28		1,282		1,330,075

Security	Par (000)		Value
Utilities (continued)
Vistra Operations Co. LLC 5.63%, 02/15/27	$	812	$	856,822
5.00%, 07/31/27		436		456,928
				5,047,760
Wireless Telecommunication Services — 3.7%
Altice France SA(a) 7.38%, 05/01/26(e)		6,371		6,676,171
8.13%, 02/01/27		1,112		1,212,080
5.50%, 01/15/28		2,001		2,026,012
5.13%, 01/15/29		338		336,732
American Tower Corp., 3.60%, 01/15/28		4,000		4,486,803
Crown Castle International Corp. 3.65%, 09/01/27(e)		8,000		8,951,802
3.30%, 07/01/30		1,220		1,334,159
4.15%, 07/01/50		820		937,277
Digicel International Finance Ltd./Digicel Holdings Bermuda Ltd., 8.75%, 05/25/24(a)		635		634,998
Gogo Intermediate Holdings LLC/Gogo Finance Co., Inc., 9.88%, 05/01/24(a)		26		27,794
SBA Communications Corp. 4.88%, 09/01/24		2,548		2,611,445
3.88%, 02/15/27(a)		2,908		2,951,620
Sprint Corp. 7.88%, 09/15/23		1,233		1,416,409
7.13%, 06/15/24		1,333		1,533,763
7.63%, 02/15/25		36		42,120
7.63%, 03/01/26		1,196		1,445,228
T-Mobile USA, Inc. 4.50%, 02/01/26		538		554,355
4.75%, 02/01/28		913		976,673
3.88%, 04/15/30(a)(e)		2,925		3,318,763
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 8.25%, 10/15/23		490		482,650
VICI Properties LP/VICI Note Co., Inc.(a) 3.50%, 02/15/25		946		936,545
4.25%, 12/01/26		3,168		3,182,731
3.75%, 02/15/27		1,004		987,213
4.63%, 12/01/29		1,298		1,320,715
4.13%, 08/15/30		3,469		3,412,629
VTR Comunicaciones SpA, 5.13%, 01/15/28(a)		449		462,737
				52,259,424
Total Corporate Bonds — 109.6% (Cost: $1,381,030,490)				1,536,621,766
Foreign Agency Obligations
Brazil — 0.5%
Brazilian Government International Bond, 5.00%, 01/27/45		6,525		6,565,781
Colombia — 0.3%
Colombia Government International Bond, 5.63%, 02/26/44		4,000		4,956,250
Indonesia — 0.4%
Indonesia Government International Bond, 5.88%, 01/15/24(a)		4,400		5,062,750
Mexico — 0.5%
Mexico Government International Bond, 4.75%, 03/08/44		5,800		6,365,500

SCHEDULEOF INVESTMENTS 13

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Uruguay — 0.3%
Uruguay Government International Bond, 5.10%, 06/18/50	$	3,500	$	4,693,281
Total Foreign Agency Obligations — 2.0% (Cost: $23,631,583)				27,643,562
Municipal Bonds
Illinois — 0.3%
Chicago O’Hare International Airport, Refunding ARB, BAB, Series B, 6.85%, 01/01/38		5,000		5,020,550
New York — 0.9%
Metropolitan Transportation Authority, RB, BAB, 6.55%, 11/15/31		10,000		12,078,400
Total Municipal Bonds — 1.2% (Cost: $14,833,900)				17,098,950
Preferred Securities
Capital Trusts — 16.8%
Automobiles — 0.2%
General Motors Financial Co., Inc., Series C, 5.70%(f)(g)		2,565		2,574,619
Banks(f)(g) — 3.7%
CIT Group, Inc., Series A, 5.80%		3,000		2,412,180
HSBC Capital Funding Dollar 1 LP, 10.18%(a)(e)		11,835		19,882,800
Huntington Bancshares, Inc., Series F, 5.63%		6,450		7,095,000
Macquarie Bank Ltd., 6.13%(a)		1,885		1,934,953
Nordea Bank Abp, 6.13%(a)		5,540		5,938,215
US Bancorp, Series J, 5.30%(e)		10,415		11,260,860
Wells Fargo & Co.
Series S, 5.90%		281		287,209
Series U, 5.88%		2,655		2,858,406
				51,669,623
Capital Markets — 0.1%
State Street Corp., Series F, 3.85%(f)(g)		1,855		1,844,426
Consumer Finance(f)(g) — 0.6%
American Express Co., Series C, 3.54%		4,510		4,078,889
Capital One Financial Corp., Series E, 4.05%		5,000		4,419,650
				8,498,539
Diversified Financial Services — 8.9%
Bank of America Corp.(f)(g)
Series AA, 6.10%		8,630		9,394,704
Series U, 5.20%(e)		5,785		5,819,531
Barclays PLC, 8.00%(f)(g)		4,500		4,792,500
BNP Paribas SA(a)(f)(g)
7.20%(e)		5,000		5,423,586
6.75%(e)		5,000		5,156,250
7.38%		4,535		5,050,856
Citigroup, Inc., 5.90%(f)(g)		2,210		2,262,952
Credit Agricole SA, 8.13%(a)(f)(g)		5,000		5,875,000
Credit Suisse Group AG(a)(f)(g) 5.10%		1,230		1,186,950
6.25%(e)		7,255		7,771,106

Security	Par (000)		Value
Diversified Financial Services (continued)
Credit Suisse Group AG(a)(f)(g) (continued) 7.50%	$	1,865	$	1,968,153
HSBC Holdings PLC, 6.50%(f)(g)		2,615		2,776,790
JPMorgan Chase & Co. 8.75%, 09/01/30		2,000		2,942,091
Series I, 3.74%(f)(g)		1,785		1,711,578
Series Q, 5.15%(f)(g)		4,000		4,020,000
Series R, 6.00%(e)(f)(g)		14,130		14,483,250
Series S, 6.75%(e)(f)(g)		9,775		10,581,438
Lloyds Banking Group PLC, 7.50%(f)(g)		8,285		8,823,525
Morgan Stanley, Series H, 3.85%(f)(g)		8,675		8,187,031
Natwest Group PLC, 8.63%(e)(f)(g)		5,135		5,263,375
Royal Bank of Scotland Group PLC, 8.00%(f)(g)		970		1,076,700
Societe Generale SA, 7.38%(a)(f)(g)		1,980		2,029,500
UBS Group AG, 7.00%(a)(e)(f)(g)		7,500		8,006,250
				124,603,116
Electric Utilities — 0.5%
PPL Capital Funding, Inc., Series A, 2.89%, 03/30/67(g)		8,300		6,536,250
Insurance — 1.9%
ACE Capital Trust II, 9.70%, 04/01/30		7,000		10,373,878
Allstate Corp., Series B, 5.75%, 08/15/53(g)		5,000		5,206,370
Equitable of Iowa Cos. Capital Trust II, Series B,
8.42%, 04/01/27		5,000		5,571,105
MetLife, Inc., 6.40%, 12/15/36(e)		5,000		6,220,292
				27,371,645
Media — 0.4%
NBCUniversal Enterprise, Inc., 5.25%(a)(f)		5,600		5,656,000
Oil, Gas & Consumable Fuels — 0.1%
Enterprise Products Operating LLC, 3.02%, 06/01/67(g)		2,500		1,925,000
Wireless Telecommunication Services — 0.4%
Vodafone Group PLC, 7.00%, 04/04/79(g)		4,745		5,630,527
Total Capital Trusts — 16.8%				236,309,745
	Shares
Preferred Stocks — 3.0%
Banks(f)(g) — 2.0%
Citigroup, Inc., Series K, 6.88%		488,320		13,492,282
Wells Fargo & Co., Series Q, 5.85%		550,500		14,346,030
				27,838,312
Capital Markets(f)(g) — 0.7%
Goldman Sachs Group, Inc., Series J, 5.50%		162,450		4,306,549
State Street Corp., Series D, 5.90%		220,495		6,101,097
				10,407,646
Electric Utilities — 0.2%
Entergy Louisiana LLC, 5.25%, 07/01/52		90,000		2,309,400

14

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Shares		Value
Equity Real Estate Investment Trusts (REITs) — 0.1%
Vornado Realty Trust, Series K, 5.70%(f)		50,000	$	1,268,500
Total Preferred Stocks — 3.0%				41,823,858
Total Preferred Securities — 19.8% (Cost: $262,694,116)				278,133,603
Warrants
Oil, Gas & Consumable Fuels — 0.0%
SM Energy Co. (Expires 06/30/23)		29,074		45,937
Total Warrants — 0.0% (Cost: $124,728)				45,937
Total Long-Term Investments — 139.4% (Cost: $1,780,601,570)				1,954,290,430
Short-Term Securities
Money Market Funds — 1.3%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.02%(l)(m)		18,148,138		18,148,138
Total Short-Term Securities — 1.3% (Cost: $18,148,138)				18,148,138
Options Purchased — 0.0% (Cost: $1,214,200)				226,341
Total Investments — 140.7% (Cost: $1,799,963,908)				1,972,664,909
Liabilities in Excess of Other Assets — (40.7)%				(570,774,904	)
Net Assets — 100.0%			$	1,401,890,005

^(a) 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.

^(b) Variable rate security. Rate shown is the rate in effect as of period end.

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

^(d) Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end.

^(e) All or a portion of the security has been pledged as collateral in connection with outstanding reverse repurchase agreements.

^(f) Perpetual security with no stated maturity date.

^(g) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.

^(h) 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.

⁽ⁱ⁾ When-issued security.

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

^(k) Non-income producing security.

^(l) Affiliate of the Trust.

^(m) 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	$	9,646,385	$	8,501,753	(a)	$	—	$	—	$	—	$	18,148,138		18,148,138	$	76,030	$	—

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

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.

Reverse Repurchase Agreements

Counterparty

Interest Rate

Trade Date

Maturity Date

(a)

Face Value

Face Value Including Accrued Interest

Type of Non-Cash Underlying Collateral

Remaining Contractual Maturity of the Agreements

(a)

Barclays Capital, Inc.

0.50

%(b)

01/31/20

Open

$

488,565

$

573,076

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

1.10

(b)

03/18/20

Open

7,188,750

7,232,022

Corporate Bonds

Open/Demand

J.P. Morgan Securities LLC

0.75

(b)

03/20/20

Open

385,193

386,757

Corporate Bonds

Open/Demand

J.P. Morgan Securities LLC

0.75

(b)

03/20/20

Open

495,158

497,169

Corporate Bonds

Open/Demand

J.P. Morgan Securities LLC

0.80

(b)

03/20/20

Open

1,653,728

1,660,894

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.95

(b)

03/25/20

Open

8,092,700

8,133,062

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.95

(b)

03/25/20

Open

2,229,975

2,241,097

Corporate Bonds

Open/Demand

SCHEDULE OF INVESTMENTS 15

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ)

Reverse Repurchase Agreements (continued)

Counterparty

Interest Rate

Trade Date

Maturity Date

(a)

Face Value

Face Value Including Accrued Interest

Type of Non-Cash Underlying Collateral

Remaining Contractual Maturity of the Agreements

(a)

RBC Capital Markets LLC

0.95

%(b)

03/25/20

Open

$

8,682,750

$

8,726,055

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

03/26/20

Open

4,305,000

4,330,890

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

03/26/20

Open

2,269,200

2,282,847

Corporate Bonds

Open/Demand

HSBC Securities (USA), Inc.

0.45

(b)

03/27/20

Open

5,255,000

5,274,071

Corporate Bonds

Open/Demand

HSBC Securities (USA), Inc.

0.45

(b)

04/08/20

Open

5,016,000

5,029,474

Capital Trusts

Open/Demand

RBC Capital Markets LLC

0.45

(b)

04/08/20

Open

2,112,500

2,122,173

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

04/08/20

Open

2,500,000

2,511,448

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

04/08/20

Open

6,760,000

6,790,955

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

04/08/20

Open

6,637,062

6,667,455

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

04/08/20

Open

2,072,500

2,081,990

Corporate Bonds

Open/Demand

J.P. Morgan Securities LLC

0.75

(b)

04/14/20

Open

195,880

196,570

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.90

(b)

04/15/20

Open

8,907,469

8,944,880

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.90

(b)

04/15/20

Open

8,826,712

8,863,785

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.90

(b)

04/15/20

Open

12,275,437

12,326,994

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.90

(b)

04/15/20

Open

15,341,119

15,405,551

Capital Trusts

Open/Demand

Barclays Capital, Inc.

1.00

(b)

04/15/20

Open

1,830,567

1,839,110

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

1.00

(b)

04/15/20

Open

2,275,000

2,285,617

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

1.00

(b)

04/15/20

Open

3,931,250

3,949,596

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

1.00

(b)

04/15/20

Open

4,542,125

4,563,322

Corporate Bonds

Open/Demand

HSBC Securities (USA), Inc.

0.45

(b)

05/04/20

Open

2,989,000

2,995,626

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.65

(b)

05/14/20

Open

5,287,247

5,299,944

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.60

(b)

05/20/20

Open

1,626,923

1,630,556

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.65

(b)

05/29/20

Open

3,905,000

3,913,813

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.65

(b)

05/29/20

Open

5,675,175

5,687,984

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.65

(b)

05/29/20

Open

4,950,000

4,961,172

Corporate Bonds

Open/Demand

BNP Paribas S.A.

1.05

(b)

06/09/20

Open

1,196,748

1,200,692

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

1.20

(b)

06/15/20

Open

4,656,250

4,673,013

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.55

(b)

06/26/20

Open

4,436,606

4,442,910

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

06/26/20

Open

5,390,437

5,398,096

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

06/26/20

Open

5,677,031

5,685,097

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

1.00

(b)

06/26/20

Open

6,066,994

6,082,835

Capital Trusts

Open/Demand

Barclays Capital, Inc.

1.00

(b)

06/26/20

Open

3,996,281

4,006,605

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

1.00

(b)

06/26/20

Open

6,403,125

6,420,378

Capital Trusts

Open/Demand

Barclays Capital, Inc.

1.00

(b)

06/26/20

Open

4,162,500

4,173,253

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.85

(b)

07/29/20

Open

6,912,500

6,922,782

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.55

(b)

08/11/20

Open

6,392,850

6,397,831

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

08/20/20

Open

21,611,340

21,622,686

Corporate Bonds

Open/Demand

BNP Paribas S.A.

1.10

(b)

08/26/20

Open

971,554

972,593

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

08/31/20

Open

7,157,200

7,159,973

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

08/31/20

Open

7,908,187

7,911,252

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.25

(b)

09/02/20

Open

436,668

436,755

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

10,102,406

10,104,932

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

858,084

858,298

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

16,605,000

16,609,151

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

7,732,500

7,734,433

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

11,150,000

11,152,787

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

4,008,025

4,009,027

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

9,501,600

9,503,975

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

5,662,500

5,663,916

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

5,598,562

5,599,962

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

16,350,000

16,354,087

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

9,255,500

9,257,814

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

5,915,000

5,916,479

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

3,555,000

3,555,889

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

8,530,000

8,532,133

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

8,302,406

8,304,482

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/10/20

Open

8,002,500

8,004,501

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

1.04

(b)

09/10/20

Open

15,550,000

15,558,984

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

09/15/20

Open

2,709,180

2,710,140

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.60

(b)

09/18/20

Open

14,728,984

14,732,175

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.30

(b)

09/21/20

Open

355,268

355,294

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.50

(b)

09/21/20

Open

972,500

972,622

Corporate Bonds

Open/Demand

16

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ)

Reverse Repurchase Agreements (continued)

Counterparty

Interest Rate

Trade Date

Maturity Date

(a)

Face Value

Face Value Including Accrued Interest

Type of Non-Cash Underlying Collateral

Remaining Contractual Maturity of the Agreements

(a)

Barclays Capital, Inc.

0.50

%(b)

09/21/20

Open

$

4,888,325

$

4,888,936

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.50

(b)

09/21/20

Open

6,442,500

6,443,305

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.80

(b)

09/21/20

Open

1,184,553

1,184,789

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.40

(b)

09/25/20

Open

9,805,947

9,806,274

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/25/20

Open

1,656,890

1,656,980

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/25/20

Open

5,667,756

5,668,063

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/25/20

Open

4,992,225

4,992,495

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/25/20

Open

4,695,781

4,696,036

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/25/20

Open

3,955,000

3,955,214

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/25/20

Open

1,519,836

1,519,919

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/25/20

Open

3,536,632

3,536,824

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/25/20

Open

4,793,349

4,793,608

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/25/20

Open

4,647,875

4,648,127

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.68

(b)

09/25/20

Open

3,503,908

3,504,106

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.70

(b)

09/25/20

Open

2,375,419

2,375,557

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.75

(b)

09/25/20

Open

1,105,256

1,105,325

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.43

(b)

09/28/20

Open

1,111,250

1,111,277

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.45

(b)

09/28/20

Open

551,400

551,414

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.45

(b)

09/28/20

Open

5,943,750

5,943,899

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.45

(b)

09/28/20

Open

3,140,625

3,140,704

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.45

(b)

09/28/20

Open

3,891,194

3,891,291

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.45

(b)

09/28/20

Open

8,620,000

8,620,215

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/28/20

Open

533,900

533,919

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/28/20

Open

4,095,000

4,095,148

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/28/20

Open

774,279

774,307

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/28/20

Open

2,019,795

2,019,868

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/28/20

Open

4,826,900

4,827,074

Capital Trusts

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/28/20

Open

4,693,750

4,693,920

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.65

(b)

09/28/20

Open

5,170,000

5,170,187

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/29/20

Open

20,416,094

20,416,349

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

09/29/20

Open

3,425,500

3,425,543

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

09/29/20

Open

3,005,200

3,005,271

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

09/29/20

Open

8,708,400

8,708,606

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

09/29/20

Open

2,947,387

2,947,457

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

09/29/20

Open

2,904,345

2,904,414

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

09/29/20

Open

10,542,400

10,542,649

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

09/29/20

Open

9,160,200

9,160,416

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

09/29/20

Open

2,806,040

2,806,106

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.85

(b)

09/29/20

Open

2,715,436

2,715,500

Corporate Bonds

Open/Demand

$

584,298,368

$

585,184,879

^(a) Certain agreements have no stated maturity and can be terminated by either party at any time.

^(b) Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
U.S. Ultra Treasury Bond		98		12/21/20	$	21,738	$	(64,424	)
Short Contracts
10-Year U.S. Treasury Note		711		12/21/20		99,207		(72,034	)
Long U.S. Treasury Bond		113		12/21/20		19,920		66,450
5-Year U.S. Treasury Note		50		12/31/20		6,302		(8,760	)
								(14,344	)
							$	(78,768	)

SCHEDULE OF INVESTMENTS 17

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ)

OTC Interest Rate Swaptions Purchased

Paid by the Trust

Received by the Trust

Expiration Date

Exercise Rate

Notional Amount (000)

Description

Rate

Frequency

Rate

Frequency

Counterparty

Value

Put

10-Year Interest Rate Swap, 08/15/51

2.50

%

Semi-Annual

3-Month USD, LIBOR, 0.23

%

Quarterly

Citibank N.A.

01/15/21

2.50

%

USD

67,000

$

4,212

30-Year Interest Rate Swap, 01/17/31

2.50

%

Semi-Annual

3-Month USD, LIBOR, 0.23

%

Quarterly

JPMorgan Chase Bank N.A.

08/13/21

2.50

USD

40,000

222,129

$

226,341

OTC Credit Default Swaps — Buy Protection

Reference Obligations/Index	Financing Rate Paid by the Trust			Payment Frequency		Counterparty		Termination Date		Notional Amount (000)		Value			Upfront Premium Paid (Received)		Unrealized Appreciation (Depreciation)
Prudential Financial, Inc.		1.00	%		Quarterly		Citibank N.A.		06/20/21	USD	1,920	$	(13,427	)	$	4,131	$	(17,558	)
Prudential Financial, Inc.		1.00			Quarterly		Goldman Sachs International		06/20/21	USD	1,155		(8,077	)		2,643		(10,720	)
Prudential Financial, Inc.		1.00			Quarterly		JPMorgan Chase Bank N.A.		06/20/21	USD	9,500		(66,435	)		17,878		(84,313	)
												$	(87,939	)	$	24,652	$	(112,591	)

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.

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
Asset-Backed Securities	$	—	$	93,110,255	$	1,636,357	$	94,746,612
Corporate Bonds		—		1,534,934,922		1,686,844		1,536,621,766
Foreign Agency Obligations		—		27,643,562		—		27,643,562
Municipal Bonds		—		17,098,950		—		17,098,950
Preferred Securities
Capital Trusts		—		236,309,745		—		236,309,745
Preferred Stocks		41,823,858		—		—		41,823,858
Warrants		—		45,937		—		45,937
Short-Term Securities
Money Market Funds		18,148,138		—		—		18,148,138

18

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Credit Allocation Income Trust (BTZ)

Fair Value Hierarchy as of Period End (continued)

	Level 1			Level 2			Level 3		Total
Options Purchased
Interest Rate Contracts	$	—		$	226,341		$	—	$	226,341
	$	59,971,996		$	1,909,369,712		$	3,323,201	$	1,972,664,909
Derivative Financial Instruments(a)
Assets
Interest Rate Contracts	$	66,450		$	—		$	—	$	66,450
Liabilities
Credit Contracts		—			(112,591	)		—		(112,591	)
Interest Rate Contracts		(145,218	)		—			—		(145,218	)
	$	(78,768	)	$	(112,591	)	$	—	$	(191,359	)

^(a)  Derivative financial instruments are swaps and futures contracts. Swaps and futures 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 or face value, including accrued interest, for financial statement purposes. As of period end, reverse repurchase agreements of $585,184,879 are categorized as Level 2 within the disclosure hierarchy.

Currency Abbreviation
USD	United States Dollar
Portfolio Abbreviation
ARB	Airport Revenue Bonds
BAB	Build America Bond
CLO	Collateralized Loan Obligation
CMT	Constant Maturity Treasury
CR	Custodian Receipt
DAC	Designated Activity Company
LIBOR	London Interbank Offered Rate
MSCI	Morgan Stanley Capital International
PIK	Payment-in-Kind
RB	Revenue Bond
REIT	Real Estate Investment Trust

SCHEDULE OF INVESTMENTS 19