BlackRock Credit Allocation Income Trust (BTZ) NPORT-P BlackRock Credit Allocation Income Trust (Mar 2022 report)

Schedule of Investments (unaudited) March 31, 2022 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%), 2.41%, 10/21/28(a)(b)	$	500	$	496,179
Allegro CLO VI Ltd.(a)(b)
Series 2017-2A, Class B, (3 mo. LIBOR US + 1.50%), 1.74%, 01/17/31		360		355,144
Series 2017-2A, Class C, (3 mo. LIBOR US + 1.80%), 2.04%, 01/17/31		2,400		2,336,914
American Airlines, Inc., 5.18%, 08/15/23(c)		1,059		1,059,109
Anchorage Capital CLO 3-R Ltd.(a)(b)
Series 2014-3RA, Class C, (3 mo. LIBOR US + 1.85%), 2.13%, 01/28/31		1,000		982,399
Series 2014-3RA, Class D, (3 mo. LIBOR US + 2.60%), 2.88%, 01/28/31		1,000		964,903
Anchorage Capital CLO Ltd., Series 2013-1A, Class BR, (3 mo. LIBOR US + 2.15%), 2.39%, 10/13/30(a)(b)		1,000		995,076
Apidos CLO XV, Series 2013-15A, Class DRR, (3 mo. LIBOR US + 2.70%), 2.95%, 04/20/31(a)(b)		1,000		971,120
Apidos CLO XX, Series 2015-20A, Class BRR, (3 mo. LIBOR US + 1.95%), 2.19%, 07/16/31(a)(b)		1,000		988,213
Ares XLIX CLO Ltd., Series 2018-49A, Class D, (3 mo. LIBOR US + 3.00%), 3.26%, 07/22/30(a)(b)		1,000		986,662
ARES XLVII CLO Ltd., Series 2018-47A, Class D, (3 mo. LIBOR US + 2.70%), 2.94%, 04/15/30(a)(b)		1,500		1,456,704
Ares XLVIII CLO Ltd., Series 2018-48A, Class C, (3 mo. LIBOR US + 1.80%), 2.05%, 07/20/30(a)(b)		500		490,118
Ares XXXVII CLO Ltd.(a)(b)
Series 2015-4A, Class A3R, (3 mo. LIBOR US + 1.50%), 1.74%, 10/15/30		1,000		989,065
Series 2015-4A, Class BR, (3 mo. LIBOR US + 1.80%), 2.04%, 10/15/30		1,750		1,722,793
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		398,491
Atrium XV, Series 15A, Class C, (3 mo. LIBOR US + 2.20%), 2.46%, 01/23/31(a)(b)		250		249,455
Benefit Street Partners Clo XII Ltd., Series 2017-12A, Class B, (3 mo. LIBOR US + 2.00%), 2.24%, 10/15/30(a)(b)		1,000		985,287
Canyon CLO Ltd., Series 2020-3A, Class C, (3 mo. LIBOR US + 2.50%), 2.74%, 01/15/34(a)(b)		500		498,083
Carlyle C17 CLO Ltd., Series C17A, Class BR, (3 mo. LIBOR US + 1.85%), 2.15%, 04/30/31(a)(b)		1,000		982,932
CarVal CLO I Ltd., Series 2018-1A, Class D, (3 mo. LIBOR US + 2.89%), 3.13%, 07/16/31(a)(b)		500		490,695
CIFC Funding Ltd.(a)(b)
Series 2013-2A, Class A3LR, (3 mo. LIBOR US + 1.95%), 2.19%, 10/18/30		1,000		984,802
Series 2013-2A, Class B1LR, (3 mo. LIBOR US + 3.05%), 3.29%, 10/18/30		1,000		990,195
Series 2018-1A, Class C, (3 mo. LIBOR US + 1.75%), 1.99%, 04/18/31		1,000		983,781
Series 2018-1A, Class D, (3 mo. LIBOR US + 2.65%), 2.89%, 04/18/31		1,200		1,163,256
Galaxy XX CLO Ltd., Series 2015-20A, Class D1R, (3 mo. LIBOR US + 2.60%), 2.85%, 04/20/31(a)(b)		1,000		970,378
Generate CLO 2 Ltd.(a)(b)
Series 2015-1A, Class CR, (3 mo. LIBOR US + 1.85%), 2.11%, 01/22/31		1,500		1,475,984

Security	Par (000)		Value
Asset-Backed Securities (continued)
Generate CLO 2 Ltd.(a)(b) (continued)
Series 2015-1A, Class DR, (3 mo. LIBOR US + 2.60%), 2.86%, 01/22/31	$	1,800	$	1,734,273
Greenwood Park CLO Ltd., Series 2018-1A, Class D, (3 mo. LIBOR US + 2.50%), 2.74%, 04/15/31(a)(b)		1,000		959,326
Highbridge Loan Management 12-2018 Ltd., Series 12A- 18, Class B, (3 mo. LIBOR US + 1.85%), 2.09%, 07/18/31(a)(b)		1,250		1,229,630
Highbridge Loan Management Ltd., Series 4A-2014, Class A2R, (3 mo. LIBOR US + 1.50%), 1.78%, 01/28/30(a)(b)		650		643,047
HPS Loan Management Ltd., Series 6A-2015, Class BR, (3 mo. LIBOR US + 1.75%), 2.07%, 02/05/31(a)(b)		1,500		1,471,384
Long Point Park CLO Ltd., Series 2017-1A, Class B, (3 mo. LIBOR US + 1.70%), 1.94%, 01/17/30(a)(b)		1,000		976,479
Madison Park Funding XIII Ltd., Series 2014-13A, Class CR2, (3 mo. LIBOR US + 1.90%), 2.15%, 04/19/30(a)(b)		1,000		990,918
Madison Park Funding XXVII Ltd.(a)(b)
Series 2018-27A, Class B, (3 mo. LIBOR US + 1.80%), 2.05%, 04/20/30		1,000		983,455
Series 2018-27A, Class C, (3 mo. LIBOR US + 2.60%), 2.85%, 04/20/30		1,000		964,661
Marble Point CLO XI Ltd., Series 2017-2A, Class B, (3 mo. LIBOR US + 1.50%), 1.74%, 12/18/30(a)(b)		1,000		985,451
MP CLO III Ltd., Series 2013-1A, Class CR, (3 mo. LIBOR US + 2.00%), 2.25%, 10/20/30(a)(b)		1,000		978,648
Neuberger Berman CLO XVIII Ltd., Series 2014-18A, Class CR2, (3 mo. LIBOR US + 3.00%), 3.26%, 10/21/30(a)(b)		2,700		2,663,182
Neuberger Berman CLO XXII Ltd.(a)(b)
Series 2016-22A, Class BR, (3 mo. LIBOR US + 1.65%), 1.89%, 10/17/30		400		396,672
Series 2016-22A, Class CR, (3 mo. LIBOR US + 2.20%), 2.44%, 10/17/30		1,000		990,489
Neuberger Berman Loan Advisers CLO 26 Ltd., Series 2017-26A, Class C, (3 mo. LIBOR US + 1.75%), 1.99%, 10/18/30(a)(b)		1,500		1,473,750
Neuberger Berman Loan Advisers CLO 27 Ltd., Series 2018-27A, Class D, (3 mo. LIBOR US + 2.60%), 2.84%, 01/15/30(a)(b)		1,000		966,967
OCP CLO Ltd.(a)(b)
Series 2014-6A, Class BR, (3 mo. LIBOR US + 2.15%), 2.39%, 10/17/30		500		492,953
Series 2016-11A, Class BR, (3 mo. LIBOR US + 2.45%), 2.72%, 10/26/30		1,500		1,492,631
Series 2017-14A, Class B, (3 mo. LIBOR US + 1.95%), 2.43%, 11/20/30		1,000		985,954
Octagon Investment Partners 26 Ltd., Series 2016-1A, Class DR, (3 mo. LIBOR US + 2.85%), 3.09%, 07/15/30(a)(b)		500		486,340
Octagon Investment Partners 33 Ltd., Series 2017-1A, Class C, (3 mo. LIBOR US + 2.75%), 3.00%, 01/20/31(a)(b)		1,000		974,182
Octagon Investment Partners 34 Ltd., Series 2017-1A, Class B1, (3 mo. LIBOR US + 1.40%), 1.65%, 01/20/30(a)(b)		1,000		987,092

1

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Asset-Backed Securities (continued)
Octagon Investment Partners XVII Ltd.(a)(b)
Series 2013-1A, Class BR2, (3 mo. LIBOR US + 1.40%), 1.66%, 01/25/31	$	1,000	$	978,510
Series 2013-1A, Class CR2, (3 mo. LIBOR US + 1.70%), 1.96%, 01/25/31		1,000		974,734
Octagon Investment Partners XXII Ltd., Series 2014-1A, Class CRR, (3 mo. LIBOR US + 1.90%), 2.16%, 01/22/30(a)(b)		900		884,524
OHA Credit Partners XII Ltd., Series 2015-12A, Class DR, (3 mo. LIBOR US + 2.90%), 3.16%, 07/23/30(a)(b)		600		584,598
OZLM XXI Ltd., Series 2017-21A, Class B, (3 mo. LIBOR US + 1.90%), 2.15%, 01/20/31(a)(b)		1,800		1,763,034
Palmer Square CLO Ltd.(a)(b)
Series 2018-1A, Class A2, (3 mo. LIBOR US + 1.45%), 1.69%, 04/18/31		1,500		1,482,812
Series 2019-1A, Class CR, (3 mo. LIBOR US + 3.05%), 3.44%, 11/14/34		1,000		984,381
Park Avenue Institutional Advisers CLO Ltd, Series 2019- 1A, Class C, (3 mo. LIBOR US + 3.85%), 4.36%, 05/15/32(a)(b)		1,500		1,491,063
Regatta VII Funding Ltd., Series 2016-1A, Class DR2, (3 mo. LIBOR US + 3.05%), 3.98%, 06/20/34(a)(b)		500		493,759
Regatta XVI Funding Ltd.(a)(b)
Series 2019-2A, Class C, (3 mo. LIBOR US + 2.70%), 2.94%, 01/15/33		1,000		997,297
Series 2019-2A, Class D, (3 mo. LIBOR US + 3.90%), 4.14%, 01/15/33		1,000		995,161
Rockford Tower CLO Ltd.(a)(b)
Series 2017-3A, Class A, (3 mo. LIBOR US + 1.19%), 1.44%, 10/20/30		2,000		1,992,979
Series 2017-3A, Class D, (3 mo. LIBOR US + 2.65%), 2.90%, 10/20/30		1,000		965,944
RR 5 Ltd., Series 2018-5A, Class C, (3 mo. LIBOR US + 3.10%), 3.34%, 10/15/31(a)(b)		650		640,917
Sound Point Clo XXI Ltd., Series 2018-3A, Class A1A, (3 mo. LIBOR US + 1.18%), 1.45%, 10/26/31(a)(b)		1,400		1,394,695
Stewart Park CLO Ltd., Series 2015-1A, Class DR, (3 mo. LIBOR US + 2.60%), 2.84%, 01/15/30(a)(b)		1,500		1,445,794
Tiaa CLO III Ltd., Series 2017-2A, Class A, (3 mo. LIBOR US + 1.15%), 1.39%, 01/16/31(a)(b)		2,500		2,486,417
TICP CLO IX Ltd., Series 2017-9A, Class A, (3 mo. LIBOR US + 1.14%), 1.39%, 01/20/31(a)(b)		1,000		994,392
York CLO 1 Ltd., Series 2014-1A, Class ARR, (3 mo. LIBOR US + 1.12%), 1.38%, 10/22/29(a)(b)		1,981		1,974,536
Total Asset-Backed Securities — 5.7% (Cost: $73,139,938)				72,320,769
Corporate Bonds
Advertising Agencies — 0.2%
Interpublic Group of Cos., Inc., 5.40%, 10/01/48		2,215		2,634,958
Aerospace & Defense — 3.9%
Boeing Co., 5.15%, 05/01/30		6,775		7,225,252
Bombardier, Inc.(b) 7.50%, 12/01/24		354		365,505
7.50%, 03/15/25		99		99,505
7.13%, 06/15/26		1,322		1,295,560
7.88%, 04/15/27		1,232		1,206,270
6.00%, 02/15/28		1,121		1,050,646

Security	Par (000)		Value
Aerospace & Defense (continued)
Bombardier, Inc.(b) (continued) 7.45%, 05/01/34	$	137	$	139,055
F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26(b)		516		464,400
General Dynamics Corp., 4.25%, 04/01/50		1,260		1,417,960
Howmet Aerospace, Inc., 5.13%, 10/01/24		45		46,575
Moog, Inc., 4.25%, 12/15/27(b)		320		310,800
Northrop Grumman Corp. 4.03%, 10/15/47		2,400		2,525,224
5.25%, 05/01/50		3,050		3,800,739
Raytheon Technologies Corp.(d) 4.63%, 11/16/48		2,805		3,169,931
3.13%, 07/01/50		3,545		3,185,053
Rolls-Royce PLC, 5.75%, 10/15/27(b)		1,533		1,573,471
Spirit AeroSystems, Inc., 7.50%, 04/15/25(b)		332		343,970
TransDigm, Inc. 8.00%, 12/15/25(b)		1,596		1,669,065
6.25%, 03/15/26(b)		15,876		16,298,937
6.38%, 06/15/26		16		16,144
7.50%, 03/15/27		432		444,960
4.63%, 01/15/29		680		635,780
4.88%, 05/01/29		622		582,982
Triumph Group, Inc., 8.88%, 06/01/24(b)		1,635		1,726,887
				49,594,671
Airlines — 1.7%
Air Canada, 3.88%, 08/15/26(b)		447		421,856
American Airlines Group, Inc., 5.18%, 10/15/23(c)		1,335		1,321,815
American Airlines, Inc., 11.75%, 07/15/25(b)		927		1,082,263
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(b) 5.50%, 04/20/26		1,036		1,044,085
5.75%, 04/20/29		2,243		2,234,724
British Airways Pass-Through Trust, Series 2020-1, Class A, 4.25%, 11/15/32(b)		1,831		1,828,551
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26(b)		531		531,303
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27(b)		2,128		2,218,440
Turkish Airlines Pass-Through Trust, Series 2015-1, Class A, 4.20%, 03/15/27(b)		1,803		1,479,099
United Airlines Pass-Through Trust(d)
Series 2020-1, Class A, 5.88%, 10/15/27(e)		5,941		6,149,298
Series B, 4.75%, 10/11/23		1,729		1,730,408
United Airlines, Inc.(b) 4.38%, 04/15/26		1,022		1,005,316
4.63%, 04/15/29		1,228		1,167,767
				22,214,925
Auto Components — 1.6%
Aptiv PLC, 3.10%, 12/01/51		2,670		2,122,608
Aptiv PLC/Aptiv Corp., 4.15%, 05/01/52		4,240		3,976,201
Clarios Global LP, 6.75%, 05/15/25(b)		497		514,658
Clarios Global LP/Clarios U.S. Finance Co.(b) 6.25%, 05/15/26(d)		4,801		4,939,029
8.50%, 05/15/27		7,027		7,290,513
Dornoch Debt Merger Sub, Inc., 6.63%, 10/15/29(b)		227		197,370
Goodyear Tire & Rubber Co. 5.00%, 07/15/29(b)		270		251,521
5.25%, 07/15/31(b)		262		242,271
5.63%, 04/30/33		636		585,120
				20,119,291

S C H E D U L E   O F   I N V E S T M E N T  S 2

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Automobiles — 2.2%
Advance Auto Parts Co., 3.50%, 03/15/32	$	2,405	$	2,307,493
Allison Transmission, Inc.(b) 5.88%, 06/01/29		855		871,647
3.75%, 01/30/31		723		655,869
Asbury Automotive Group, Inc. 4.50%, 03/01/28		197		189,238
4.75%, 03/01/30		191		180,256
5.00%, 02/15/32(b)		101		93,884
Carvana Co.(b) 5.50%, 04/15/27		602		537,285
4.88%, 09/01/29		461		380,710
Ford Motor Co. 7.45%, 07/16/31(d)		3,660		4,318,800
3.25%, 02/12/32		1,255		1,120,878
Ford Motor Credit Co. LLC 4.69%, 06/09/25		200		201,432
5.13%, 06/16/25		1,070		1,091,400
3.38%, 11/13/25		207		202,331
2.70%, 08/10/26		613		570,096
4.27%, 01/09/27		200		197,252
2.90%, 02/16/28		627		566,651
4.00%, 11/13/30		200		188,340
General Motors Co. 6.25%, 10/02/43		940		1,065,774
5.95%, 04/01/49(d)		3,455		3,839,525
Group 1 Automotive, Inc., 4.00%, 08/15/28(b)		78		72,638
Jaguar Land Rover Automotive PLC, 4.50%, 10/01/27(f)		500		436,250
LCM Investments Holdings II LLC, 4.88%, 05/01/29(b)		456		430,683
Lithia Motors, Inc., 3.88%, 06/01/29(b)		269		254,270
Nissan Motor Co. Ltd., 4.81%, 09/17/30(b)(d)		7,125		7,063,405
Penske Automotive Group, Inc. 3.50%, 09/01/25		441		437,693
3.75%, 06/15/29		141		126,134
Sonic Automotive, Inc., 4.63%, 11/15/29(b)		119		107,100
TML Holdings Pte. Ltd., 4.35%, 06/09/26(f)		200		188,500
				27,695,534
Banks — 3.0%
Australia & New Zealand Banking Group Ltd., (5 year CMT + 1.70%), 2.57%, 11/25/35(a)(b)(d)		5,445		4,750,951
Bangkok Bank PCL(a)(f)
(5 year CMT + 1.90%), 3.73%, 09/25/34		200		186,475
(5 year CMT + 4.73%), 5.00%(g)		222		216,838
Bank Negara Indonesia Persero Tbk PT, 3.75%, 03/30/26(f)		200		190,022
Bank of Communications Co. Ltd., (5 year CMT + 3.35%), 3.80%(a)(f)(g)		252		252,000
Bank of East Asia Ltd., (5 year CMT + 5.53%), 5.83%(a)(f)(g)		750		744,375
Fifth Third Bancorp, Series H, (3 mo. LIBOR US + 3.03%), 5.10%(a)(g)		5,000		4,943,750
Intesa Sanpaolo SpA(b) 5.71%, 01/15/26(d)		9,840		10,052,032
(1 year CMT + 2.75%), 4.95%, 06/01/42(a)		3,045		2,605,150
Kasikornbank PCL(a)(f)
(5 year CMT + 1.70%), 3.34%, 10/02/31		200		187,663
(5 year CMT + 3.34%), 4.00%(g)		300		271,500

Security	Par (000)		Value
Banks (continued)
Truist Financial Corp., Series L, (3 mo. LIBOR US + 3.10%), 5.05%(a)(g)	$	5,270	$	5,072,375
Wells Fargo & Co. 5.61%, 01/15/44(d)		4,119		4,902,701
(SOFR + 1.51%), 3.53%, 03/24/28(a)		4,075		4,066,816
				38,442,648
Beverages — 2.1%
Anheuser-Busch Cos., LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 02/01/46(d)		6,170		6,861,934
Anheuser-Busch InBev Worldwide, Inc., 5.55%, 01/23/49(d)		5,000		6,096,379
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27(b)(h)		2,581		2,360,002
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 4.00%, 09/01/29(b)		2,274		2,049,215
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.(b) 4.13%, 08/15/26		1,315		1,266,904
5.25%, 08/15/27		1,662		1,536,311
Ball Corp. 5.25%, 07/01/25		30		31,785
2.88%, 08/15/30		147		131,792
3.13%, 09/15/31		712		636,314
Canpack SA/Canpack U.S. LLC, 3.13%, 11/01/25(b)		228		210,330
Crown Cork & Seal Co., Inc., 7.38%, 12/15/26		151		170,395
Trivium Packaging Finance BV(b) 5.50%, 08/15/26		2,830		2,818,340
8.50%, 08/15/27		3,036		3,020,820
				27,190,521
Biotechnology — 0.5%
Baxalta, Inc., 5.25%, 06/23/45(d)		6,000		6,887,787
Building Materials(b) — 0.3%
CP Atlas Buyer, Inc., 7.00%, 12/01/28		584		497,942
Jeld-Wen, Inc. 4.63%, 12/15/25		96		92,400
4.88%, 12/15/27		74		70,855
Masonite International Corp., Class C, 5.38%, 02/01/28		206		207,545
New Enterprise Stone & Lime Co., Inc., 5.25%, 07/15/28		163		156,705
SRM Escrow Issuer LLC, 6.00%, 11/01/28		1,179		1,162,800
Standard Industries, Inc. 5.00%, 02/15/27		303		300,358
4.38%, 07/15/30		1,272		1,165,095
3.38%, 01/15/31		69		60,375
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29		386		381,175
Victors Merger Corp., 6.38%, 05/15/29		249		203,829
				4,299,079
Building Products(b) — 0.4%
LBM Acquisition LLC, 6.25%, 01/15/29		705		660,345
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26		299		304,023
SRS Distribution, Inc. 4.63%, 07/01/28		897		856,823
6.13%, 07/01/29		912		841,320

3

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Building Products (continued)
SRS Distribution, Inc. (continued)
6.00%, 12/01/29	$	864	$	799,200
White Cap Buyer LLC, 6.88%, 10/15/28(d)		1,194		1,131,423
				4,593,134
Capital Markets — 1.8%
Blackstone Private Credit Fund, 4.70%, 03/24/25(b)		8,920		9,050,198
Charles Schwab Corp., Series H, (10 year CMT + 3.08%), 4.00%(a)(e)(g)		5,215		4,683,696
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29(b)		447		420,180
GLP Capital LP/GLP Financing II, Inc., 3.25%, 01/15/32		725		657,792
Icahn Enterprises LP/Icahn Enterprises Finance Corp. 4.75%, 09/15/24		520		522,366
6.25%, 05/15/26		782		797,640
5.25%, 05/15/27		1,724		1,691,977
4.38%, 02/01/29		435		399,113
Jefferies Financial Group, Inc., 5.50%, 10/18/23(d)		4,000		4,090,385
NFP Corp., 6.88%, 08/15/28(b)		711		679,005
				22,992,352
Chemicals — 2.5%
Axalta Coating Systems LLC, 3.38%, 02/15/29(b)		1,090		958,328
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27(b)		597		574,341
Diamond (BC) B.V., 4.63%, 10/01/29(b)		608		545,680
DuPont de Nemours, Inc., 5.42%, 11/15/48(d)		7,500		9,048,593
Element Solutions, Inc., 3.88%, 09/01/28(b)		2,904		2,711,610
EverArc Escrow Sarl, 5.00%, 10/30/29(b)		1,148		1,048,985
GCP Applied Technologies, Inc., 5.50%, 04/15/26(b)		299		302,737
Herens Holdco Sarl, 4.75%, 05/15/28(b)		290		260,052
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28(b)		514		520,425
Ingevity Corp., 3.88%, 11/01/28(b)		100		90,383
LYB Finance Co. BV, 8.10%, 03/15/27(b)(d)		6,000		7,171,441
NOVA Chemicals Corp., 4.88%, 06/01/24(b)		240		242,699
SCIH Salt Holdings, Inc., 6.63%, 05/01/29(b)(d)		302		271,092
SCIL IV LLC/SCIL USA Holdings LLC, 5.38%, 11/01/26(b)		480		441,600
Scotts Miracle-Gro Co., 4.00%, 04/01/31		547		476,976
UPL Corp. Ltd., (5 year CMT + 3.87%), 5.25%(a)(f)(g)		500		462,125
WESCO Distribution, Inc.(b) 7.13%, 06/15/25		1,485		1,544,875
7.25%, 06/15/28		1,354		1,438,131
WR Grace Holdings LLC(b) 5.63%, 10/01/24		1,493		1,512,707
5.63%, 08/15/29		2,547		2,381,700
				32,004,480
Commercial Services & Supplies — 0.9%
ADT Security Corp., 4.13%, 06/15/23		174		175,895
AerCap Global Aviation Trust, (3 mo. LIBOR US + 4.30%), 6.50%, 06/15/45(a)(b)		5,000		4,895,700
APX Group, Inc., 5.75%, 07/15/29(b)		555		506,343
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.38%, 03/01/29(b)		223		219,704
Fortress Transportation & Infrastructure Investors LLC(b) 6.50%, 10/01/25		163		161,778
5.50%, 05/01/28		645		586,402
Herc Holdings, Inc., 5.50%, 07/15/27(b)		529		536,406
Hertz Corp.(b) 4.63%, 12/01/26		249		232,522

Security	Par (000)		Value
Commercial Services & Supplies (continued)
Hertz Corp.(b) (continued)
5.00%, 12/01/29	$	398	$	360,190
Metis Merger Sub LLC, 6.50%, 05/15/29(b)		443		416,885
NESCO Holdings II, Inc., 5.50%, 04/15/29(b)		356		349,770
PECF USS Intermediate Holding III Corp., 8.00%, 11/15/29(b)		445		429,425
Prime Security Services Borrower LLC/Prime Finance, Inc.(b) 5.75%, 04/15/26		252		257,084
6.25%, 01/15/28		626		612,600
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29(b)		482		466,335
United Rentals North America, Inc. 4.88%, 01/15/28		777		789,273
5.25%, 01/15/30		44		45,375
				11,041,687
Communications Equipment — 0.5%
Avaya, Inc., 6.13%, 09/15/28(b)		1,027		1,012,797
CommScope Technologies LLC, 6.00%, 06/15/25(b)		783		741,587
CommScope, Inc.(b) 6.00%, 03/01/26		591		597,850
8.25%, 03/01/27		419		407,477
7.13%, 07/01/28		1,030		930,476
4.75%, 09/01/29		893		822,462
Nokia OYJ, 6.63%, 05/15/39		324		385,965
ViaSat, Inc.(b) 5.63%, 09/15/25		731		713,946
5.63%, 04/15/27		243		239,355
6.50%, 07/15/28		287		275,520
Viavi Solutions, Inc., 3.75%, 10/01/29(b)		679		637,189
				6,764,624
Construction Materials(b) — 0.3%
American Builders & Contractors Supply Co., Inc., 4.00%, 01/15/28		764		733,967
BCPE Empire Holdings, Inc., 7.63%, 05/01/27		225		211,995
H&E Equipment Services, Inc., 3.88%, 12/15/28		132		123,750
IAA, Inc., 5.50%, 06/15/27		1,054		1,056,635
Picasso Finance Sub, Inc., 6.13%, 06/15/25		823		836,374
Williams Scotsman International, Inc., 4.63%, 08/15/28		541		527,475
				3,490,196
Consumer Discretionary(b) — 1.0%
Carnival Corp. 10.50%, 02/01/26(d)		1,407		1,564,457
5.75%, 03/01/27		1,293		1,233,089
9.88%, 08/01/27		1,285		1,420,336
4.00%, 08/01/28		2,563		2,383,590
6.00%, 05/01/29		1,175		1,107,249
CoreLogic, Inc., 4.50%, 05/01/28		1,085		1,022,938
NCL Corp. Ltd. 5.88%, 03/15/26		141		133,973
7.75%, 02/15/29		202		203,402
NCL Finance Ltd., 6.13%, 03/15/28		1,105		1,024,716
Nielsen Finance LLC/Nielsen Finance Co. 5.63%, 10/01/28		768		773,530
5.88%, 10/01/30		400		401,000
Royal Caribbean Cruises Ltd. 5.50%, 08/31/26		303		294,455
5.38%, 07/15/27		806		774,389

S C H E D U L E   O F   I N V E S T M E N T  S 4

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Consumer Discretionary (continued)
Royal Caribbean Cruises Ltd. (continued)
5.50%, 04/01/28	$	768	$	732,142
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29		385		351,410
				13,420,676
Consumer Finance — 1.0%
Block, Inc., 3.50%, 06/01/31(b)		1,654		1,513,410
HealthEquity, Inc., 4.50%, 10/01/29(b)		732		693,570
MPH Acquisition Holdings LLC, 5.50%, 09/01/28(b)		540		517,652
Navient Corp. 7.25%, 09/25/23		299		310,586
6.13%, 03/25/24		59		60,033
5.50%, 03/15/29		547		509,394
OneMain Finance Corp. 7.13%, 03/15/26		1,231		1,315,804
3.50%, 01/15/27		627		579,975
6.63%, 01/15/28		506		530,035
5.38%, 11/15/29		85		82,583
4.00%, 09/15/30		296		261,220
S&P Global, Inc., 3.70%, 03/01/52(b)		550		557,655
Sabre Global, Inc., 9.25%, 04/15/25(b)		697		772,719
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26(b)		362		352,045
Shriram Transport Finance Co. Ltd., 4.40%, 03/13/24(f)		500		486,875
SLM Corp., 3.13%, 11/02/26		347		321,842
Verscend Escrow Corp., 9.75%, 08/15/26(b)		3,791		3,942,640
				12,808,038
Containers & Packaging — 1.6%
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26		224		224,560
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26		355		358,791
Graphic Packaging International LLC, 3.50%, 03/01/29(b)		264		242,880
International Paper Co.(d) 8.70%, 06/15/38		4,000		5,841,342
7.30%, 11/15/39		10,000		13,173,700
LABL, Inc., 5.88%, 11/01/28(b)		520		487,500
Sealed Air Corp., 4.00%, 12/01/27(b)		109		106,275
				20,435,048
Diversified Consumer Services — 1.1%
Allied Universal Holdco LLC/Allied Universal Finance Corp.(b) 6.63%, 07/15/26(d)		5,419		5,483,107
9.75%, 07/15/27		1,306		1,349,908
6.00%, 06/01/29		2,101		1,853,429
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 06/01/28(b)		2,154		2,024,849
Clarivate Science Holdings Corp.(b) 3.88%, 07/01/28		898		856,485
4.88%, 07/01/29		1,071		1,007,608
Garda World Security Corp., 9.50%, 11/01/27(b)		282		289,050
Service Corp. International 5.13%, 06/01/29		468		476,232
3.38%, 08/15/30		585		527,015
4.00%, 05/15/31		716		666,116
				14,533,799
Diversified Financial Services — 6.8%
Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28(b)		724		665,175

Security	Par (000)		Value
Diversified Financial Services (continued)
Ally Financial, Inc., Series B, (5 year CMT + 3.87%), 4.70%(a)(g)	$	3,375	$	3,176,921
Barclays PLC(d) 4.84%, 05/09/28		4,000		4,084,302
(3 mo. LIBOR US + 1.90%), 4.97%, 05/16/29(a)		3,220		3,368,418
BNP Paribas SA, (5 year CMT + 3.34%), 4.63%(a)(b)(g)		13,999		12,494,247
Central Garden & Pet Co., 4.13%, 10/15/30		270		243,675
Citigroup, Inc. 6.68%, 09/13/43(d)		4,125		5,426,247
Series Y, (5 year CMT + 3.00%), 4.15%(a)(g)		4,855		4,548,528
Clydesdale Acquisition Holdings, Inc.(b) 6.63%, 04/15/29		661		668,436
8.75%, 04/15/30		558		525,218
Credit Suisse AG, 6.50%, 08/08/23(b)(d)		6,000		6,150,000
Credit Suisse Group AG, (5 year USD Swap + 4.60%), 7.50%(a)(b)(g)		3,250		3,359,687
Deutsche Bank AG, (SOFR + 1.87%), 2.13%, 11/24/26(a)		3,260		3,021,993
Doric Nimrod Air Alpha Pass-Through Trust, Series 2013-1, Class A, 5.25%, 05/30/23(b)		559		555,566
Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24(b)(h)		327		296,586
Goldman Sachs Group, Inc., (SOFR + 1.85%), 3.62%, 03/15/28(a)		1,830		1,827,438
ION Trading Technologies Sarl, 5.75%, 05/15/28(b)		200		192,750
Jefferies Finance LLC/JFIN Co.-Issuer Corp., 5.00%, 08/15/28(b)		675		646,299
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.25%, 02/01/27(b)		178		170,589
Lloyds Banking Group PLC, 4.65%, 03/24/26(d)		8,650		8,849,076
Manappuram Finance Ltd., 5.90%, 01/13/23(f)		700		699,125
Natwest Group PLC 6.10%, 06/10/23		2,500		2,578,899
6.00%, 12/19/23(d)		10,080		10,511,413
5.13%, 05/28/24(d)		5,250		5,409,042
Shriram Transport Finance Co. Ltd.(f) 5.95%, 10/24/22		200		200,500
5.10%, 07/16/23		229		229,000
Spectrum Brands, Inc. 5.75%, 07/15/25		1,002		1,020,788
5.00%, 10/01/29(b)		72		67,732
UniCredit SPA, (5 year CMT + 4.75%), 5.46%, 06/30/35(a)(b)		6,135		5,862,281
				86,849,931
Diversified Telecommunication Services — 6.8%
AT&T, Inc. 4.65%, 06/01/44		28		29,170
4.35%, 06/15/45		95		95,889
3.50%, 09/15/53(d)		15,960		14,004,007
Consolidated Communications, Inc., 6.50%, 10/01/28(b)		1,313		1,209,798
Level 3 Financing, Inc. 5.38%, 05/01/25		614		619,833
4.63%, 09/15/27(b)		1,065		1,002,516
4.25%, 07/01/28(b)		132		121,177
3.63%, 01/15/29(b)		211		184,625
3.75%, 07/15/29(b)		181		160,408
Lumen Technologies, Inc. 5.63%, 04/01/25		1,909		1,923,317
5.13%, 12/15/26(b)		1,080		1,028,700
4.00%, 02/15/27(b)		1,320		1,229,362
4.50%, 01/15/29(b)		1,026		882,355
5.38%, 06/15/29(b)		988		879,938

5

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Diversified Telecommunication Services (continued)
Lumen Technologies, Inc. (continued)
Series P, 7.60%, 09/15/39	$	34	$	32,654
Series U, 7.65%, 03/15/42		344		331,960
Series Y, 7.50%, 04/01/24		290		305,295
SoftBank Group Corp., (5 year USD ICE Swap + 4.23%), 6.00%(a)(f)(g)		300		286,425
Sprint Capital Corp.
6.88%, 11/15/28		2,935		3,400,755
8.75%, 03/15/32		1,873		2,522,931
Switch Ltd.(b)
3.75%, 09/15/28		677		656,517
4.13%, 06/15/29		1,200		1,180,500
Telecom Italia Capital SA
6.38%, 11/15/33		442		422,433
6.00%, 09/30/34		818		768,977
7.20%, 07/18/36		186		180,885
7.72%, 06/04/38		319		325,318
Telecom Italia SpA, 5.30%, 05/30/24(b)		1,662		1,674,465
Telefonica Emisiones SA, 5.21%, 03/08/47		5,000		5,358,271
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 01/15/30(b)		325		292,500
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 4.75%, 04/15/28(b)		522		492,643
Verizon Communications, Inc.(d)
6.40%, 09/15/33		9,475		11,433,466
6.55%, 09/15/43		13,225		18,402,245
5.01%, 04/15/49		6,998		8,191,979
Zayo Group Holdings, Inc.(b)
4.00%, 03/01/27		5,509		5,069,547
6.13%, 03/01/28		3,249		2,907,855
				87,608,716
Electric Utilities — 4.4%
Dominion Energy, Inc., Series C, (5 year CMT + 3.20%), 4.35%(a)(g)		2,020		1,953,461
Edison International, (5 year CMT + 4.70%), 5.38%(a)(g)		6,851		6,609,502
Emera, Inc., Series 16-A, (3 mo. LIBOR US + 5.44%), 6.75%, 06/15/76(a)		7,500		7,893,750
FirstEnergy Corp.
2.65%, 03/01/30		612		555,632
Series B, 2.25%, 09/01/30		46		40,710
Series C, 7.38%, 11/15/31		922		1,137,158
Series C, 3.40%, 03/01/50		1,180		993,902
FirstEnergy Transmission LLC, 5.45%, 07/15/44(b)		889		969,189
NextEra Energy Capital Holdings, Inc.(a)
(3 mo. LIBOR US + 2.41%), 4.80%, 12/01/77		5,000		4,855,554
(5 year CMT + 2.55%), 3.80%, 03/15/82		5,840		5,378,006
NextEra Energy Operating Partners LP(b)
4.25%, 07/15/24		712		720,540
4.25%, 09/15/24		26		26,195
Oncor Electric Delivery Co. LLC, 5.30%, 06/01/42(d)		2,750		3,308,735
Pacific Gas and Electric Co., 4.20%, 06/01/41		2,310		2,007,357
PG&E Corp., 5.25%, 07/01/30		226		219,197
Progress Energy, Inc., 7.00%, 10/30/31(d)		12,000		14,865,371
Sempra Energy, (5 year CMT + 4.55%), 4.88%(a)(g)		4,375		4,396,875
				55,931,134

Security	Par (000)		Value
Electrical Equipment(b) — 0.1%
Gates Global LLC/Gates Corp., 6.25%, 01/15/26	$	714	$	714,668
GrafTech Finance, Inc., 4.63%, 12/15/28		296		275,256
				989,924
Electronic Equipment, Instruments & Components(b) — 0.3%
BWX Technologies, Inc.
4.13%, 06/30/28		70		67,381
4.13%, 04/15/29		248		238,700
Energizer Holdings, Inc.
4.75%, 06/15/28		450		408,724
4.38%, 03/31/29		41		35,895
Imola Merger Corp., 4.75%, 05/15/29		1,337		1,287,477
Vertiv Group Corp., 4.13%, 11/15/28		1,311		1,196,438
				3,234,615
Energy Equipment & Services — 0.2%
Archrock Partners LP/Archrock Partners Finance Corp.(b)
6.88%, 04/01/27		515		520,778
6.25%, 04/01/28		607		598,253
USA Compression Partners LP/USA Compression Finance Corp.
6.88%, 04/01/26		526		530,734
6.88%, 09/01/27		639		641,454
Weatherford International Ltd.(b)
6.50%, 09/15/28		27		27,911
8.63%, 04/30/30		418		424,416
				2,743,546
Environmental, Maintenance & Security Service — 0.5%
Clean Harbors, Inc., 5.13%, 07/15/29(b)		1,278		1,282,793
Covanta Holding Corp.
4.88%, 12/01/29(b)		144		137,477
5.00%, 09/01/30		384		363,840
GFL Environmental, Inc.(b)
3.75%, 08/01/25		587		576,258
5.13%, 12/15/26(d)		1,887		1,903,039
4.00%, 08/01/28		199		183,080
3.50%, 09/01/28		504		473,178
4.75%, 06/15/29		541		514,626
Tervita Corp., 11.00%, 12/01/25(b)		182		206,140
Waste Pro USA, Inc., 5.50%, 02/15/26(b)		1,151		1,087,787
				6,728,218
Equity Real Estate Investment Trusts (REITs) — 1.2%
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 4.50%, 04/01/27(b)		364		339,728
Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27(b)		258		237,354
Iron Mountain, Inc.(b)
4.88%, 09/15/27		606		599,183
5.25%, 07/15/30		299		293,020
5.63%, 07/15/32		778		766,548
MGM Growth Properties Operating Partnership LP/MGP Finance Co.-Issuer, Inc.
5.63%, 05/01/24		4,627		4,763,404
4.63%, 06/15/25(b)		755		760,662
4.50%, 09/01/26		1,658		1,666,290
4.50%, 01/15/28		430		433,225
3.88%, 02/15/29(b)		697		684,803

S C H E D U L E   O F   I N V E S T M E N T  S 6

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Equity Real Estate Investment Trusts (REITs) (continued)
MPT Operating Partnership LP/MPT Finance Corp.
5.00%, 10/15/27	$	178	$	181,004
4.63%, 08/01/29		965		955,350
3.50%, 03/15/31		2,778		2,579,962
RHP Hotel Properties LP/RHP Finance Corp., 4.75%, 10/15/27		1,500		1,443,435
RLJ Lodging Trust LP, 4.00%, 09/15/29(b)		199		184,047
				15,888,015
Food & Staples Retailing — 1.9%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(b)
3.25%, 03/15/26		1,296		1,224,746
4.63%, 01/15/27		1,885		1,822,258
5.88%, 02/15/28		928		924,859
4.88%, 02/15/30		142		138,273
General Mills, Inc., 4.20%, 04/17/28		620		647,371
Kraft Heinz Foods Co. 4.25%, 03/01/31		68		69,753
5.00%, 07/15/35		214		228,130
7.13%, 08/01/39(b)(d)		4,415		5,578,485
4.63%, 10/01/39		100		101,343
5.00%, 06/04/42		12		12,817
4.38%, 06/01/46		158		156,047
4.88%, 10/01/49		263		277,105
5.50%, 06/01/50		2,825		3,207,872
Lamb Weston Holdings, Inc.(b) 4.88%, 05/15/28		284		284,000
4.13%, 01/31/30		333		310,967
4.38%, 01/31/32		321		299,885
Performance Food Group, Inc., 4.25%, 08/01/29(b)		700		637,875
Post Holdings, Inc.(b) 5.63%, 01/15/28		428		420,110
4.63%, 04/15/30		596		536,668
U.S. Foods, Inc., 4.75%, 02/15/29(b)		642		612,307
Walmart, Inc., 5.25%, 09/01/35(d)		5,150		6,230,367
				23,721,238
Food Products(b) — 0.5%
Aramark Services, Inc. 5.00%, 04/01/25		1,367		1,369,625
6.38%, 05/01/25		1,038		1,065,538
Chobani LLC/Chobani Finance Corp, Inc., 7.50%, 04/15/25		1,321		1,277,143
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 3.75%, 12/01/31		730		677,612
Pilgrim’s Pride Corp. 4.25%, 04/15/31		52		48,100
3.50%, 03/01/32		1,237		1,079,882
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc., 4.63%, 03/01/29		624		585,000
				6,102,900
Gas Utilities — 0.0%
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31(b)		237		222,188
Health Care Equipment & Supplies — 0.4%
Avantor Funding, Inc.(b) 4.63%, 07/15/28		2,077		2,054,153
3.88%, 11/01/29		396		372,240
Embecta Corp.(b) 5.00%, 02/15/30		184		173,550

Security	Par (000)		Value
Health Care Equipment & Supplies (continued)
Embecta Corp.(b) (continued) 6.75%, 02/15/30	$	255	$	255,637
Hologic, Inc., 3.25%, 02/15/29(b)		40		37,351
Medtronic, Inc., 4.63%, 03/15/45(d)		647		745,842
Ortho-Clinical Diagnostics, Inc./Ortho-Clinical Diagnostics SA, 7.25%, 02/01/28(b)		��   1,219		1,255,570
				4,894,343
Health Care Providers & Services — 4.8%
180 Medical, Inc., 3.88%, 10/15/29(b)		282		266,490
AdaptHealth LLC, 5.13%, 03/01/30(b)		104		96,590
Aetna, Inc., 3.88%, 08/15/47		3,500		3,410,071
AHP Health Partners, Inc., 5.75%, 07/15/29(b)		580		539,400
Anthem, Inc., 4.55%, 03/01/48(d)		5,000		5,529,021
Centene Corp. 4.25%, 12/15/27		558		560,092
2.45%, 07/15/28		1,091		996,847
4.63%, 12/15/29		2,700		2,721,843
3.00%, 10/15/30		1,873		1,720,294
2.50%, 03/01/31		3,059		2,699,659
2.63%, 08/01/31		875		778,750
CHS/Community Health Systems, Inc.(b) 8.00%, 03/15/26		1,573		1,638,154
5.63%, 03/15/27		1,180		1,201,753
6.00%, 01/15/29		812		820,481
6.13%, 04/01/30		564		524,785
DaVita, Inc., 4.63%, 06/01/30(b)		16		14,941
Encompass Health Corp. 4.50%, 02/01/28		106		103,880
4.75%, 02/01/30		1,103		1,058,880
4.63%, 04/01/31		250		234,010
HCA, Inc. 5.38%, 09/01/26		665		698,250
5.63%, 09/01/28		1,411		1,525,644
5.88%, 02/01/29		312		341,078
3.50%, 09/01/30		967		934,184
5.25%, 06/15/49		3,500		3,833,062
Legacy LifePoint Health LLC(b) 6.75%, 04/15/25		409		422,591
4.38%, 02/15/27		491		474,353
LifePoint Health, Inc., 5.38%, 01/15/29(b)(d)		191		180,473
ModivCare, Inc., 5.88%, 11/15/25(b)		152		153,471
Molina Healthcare, Inc.(b) 4.38%, 06/15/28		659		652,160
3.88%, 11/15/30		491		471,360
3.88%, 05/15/32		443		421,271
Mozart Debt Merger Sub, Inc., 5.25%, 10/01/29(b)		2,283		2,122,437
Owens & Minor, Inc., 6.63%, 04/01/30(b)		246		253,136
Prime Healthcare Services, Inc., 7.25%, 11/01/25(b)		432		442,796
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/01/26(b)		72		75,316
Surgery Center Holdings, Inc.(b) 6.75%, 07/01/25		375		373,594
10.00%, 04/15/27		972		1,020,600
Teleflex, Inc., 4.25%, 06/01/28(b)		748		728,365
Tenet Healthcare Corp. 4.63%, 07/15/24		471		473,025
4.63%, 09/01/24(b)		882		888,037
4.88%, 01/01/26(b)(d)		3,889		3,923,029
6.25%, 02/01/27(b)		144		147,830
5.13%, 11/01/27(b)		2,180		2,190,257

7

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Health Care Providers & Services (continued)
Tenet Healthcare Corp. (continued) 4.63%, 06/15/28(b)	$	37	$	36,306
UnitedHealth Group, Inc., 6.88%, 02/15/38(d)		10,000		13,922,750
				61,621,316
Health Care Technology(b) — 0.5%
Catalent Pharma Solutions, Inc. 5.00%, 07/15/27		733		741,547
3.50%, 04/01/30		620		565,750
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.75%, 03/01/25		650		650,000
Charles River Laboratories International, Inc. 4.25%, 05/01/28		324		316,710
3.75%, 03/15/29		141		132,988
4.00%, 03/15/31		204		191,505
IQVIA, Inc. 5.00%, 10/15/26		554		563,695
5.00%, 05/15/27		592		598,539
Minerva Merger Sub, Inc., 6.50%, 02/15/30		1,037		1,006,019
Syneos Health, Inc., 3.63%, 01/15/29		1,502		1,387,472
				6,154,225
Hotels, Restaurants & Leisure — 3.1%
1011778 BC ULC/New Red Finance, Inc.(b) 5.75%, 04/15/25		552		567,947
3.88%, 01/15/28		1,425		1,350,237
4.38%, 01/15/28		2,509		2,408,640
4.00%, 10/15/30		130		117,265
Boyd Gaming Corp. 8.63%, 06/01/25(b)		85		89,281
4.75%, 12/01/27		393		391,035
4.75%, 06/15/31(b)		775		746,906
Boyne USA, Inc., 4.75%, 05/15/29(b)		508		487,680
Caesars Entertainment, Inc.(b) 6.25%, 07/01/25		3,215		3,319,295
8.13%, 07/01/27		2,817		3,018,289
4.63%, 10/15/29		1,245		1,164,075
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25(b)		1,048		1,069,573
CDI Escrow Issuer, Inc., 5.75%, 04/01/30(b)		1,220		1,232,200
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25(b)		1,111		1,140,903
Champion Path Holdings Ltd.(f) 4.50%, 01/27/26		500		425,000
4.85%, 01/27/28		500		397,906
Churchill Downs, Inc.(b) 5.50%, 04/01/27		1,294		1,308,674
4.75%, 01/15/28		335		324,950
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.(b)
4.63%, 01/15/29		947		897,282
6.75%, 01/15/30		942		866,612
Fortune Star BVI Ltd.(f) 6.75%, 07/02/23		200		195,100
5.95%, 10/19/25		269		245,462
5.00%, 05/18/26		344		287,240
Hilton Domestic Operating Co., Inc. 5.38%, 05/01/25(b)		319		325,986
5.75%, 05/01/28(b)		451		466,605

Security	Par (000)		Value
Hotels, Restaurants & Leisure (continued)
Hilton Domestic Operating Co., Inc. (continued) 4.88%, 01/15/30	$	1,288	$	1,285,096
4.00%, 05/01/31(b)		285		268,969
Las Vegas Sands Corp. 3.50%, 08/18/26		96		90,440
3.90%, 08/08/29		88		80,696
Marriott International, Inc., Series EE, 5.75%, 05/01/25		1,295		1,374,947
McDonald’s Corp., 4.20%, 04/01/50(d)		480		501,075
Melco Resorts Finance Ltd.(f) 5.25%, 04/26/26		300		270,000
5.75%, 07/21/28		300		261,000
5.38%, 12/04/29		383		319,805
MGM China Holdings Ltd., 5.88%, 05/15/26(f)		200		182,788
MGM Resorts International, 6.00%, 03/15/23		1,335		1,365,304
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29(b)		538		495,961
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.(b)
5.63%, 09/01/29		242		207,987
5.88%, 09/01/31		242		206,583
Scientific Games International, Inc.(b) 8.63%, 07/01/25		442		464,652
8.25%, 03/15/26		2,063		2,148,099
7.00%, 05/15/28		451		467,459
7.25%, 11/15/29		218		228,355
Six Flags Theme Parks, Inc., 7.00%, 07/01/25(b)		1,298		1,354,787
Station Casinos LLC, 4.63%, 12/01/31(b)		611		558,882
Studio City Finance Ltd.(f) 6.50%, 01/15/28		300		255,000
5.00%, 01/15/29		530		406,543
Vail Resorts, Inc., 6.25%, 05/15/25(b)		341		352,212
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27(b)(d)		602		582,435
Wynn Macau Ltd.(f) 4.88%, 10/01/24		200		182,000
5.50%, 01/15/26		230		205,850
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.13%, 10/01/29(b)		1,103		1,038,199
Yum! Brands, Inc. 7.75%, 04/01/25(b)		802		833,077
4.75%, 01/15/30(b)		135		132,384
3.63%, 03/15/31		134		122,187
				39,086,915
Household Durables — 0.4%
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 4.88%, 02/15/30(b)		770		688,623
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25(b)		507		520,942
Lennar Corp., 5.25%, 06/01/26		890		935,550
Mattamy Group Corp., 4.63%, 03/01/30(b)		427		401,085
NCR Corp.(b) 5.75%, 09/01/27		512		512,000
5.00%, 10/01/28		241		230,757
5.13%, 04/15/29		159		152,853
6.13%, 09/01/29		175		175,438
Newell Brands, Inc., 5.75%, 04/01/46		154		160,930
PulteGroup, Inc. 5.00%, 01/15/27		55		57,948
7.88%, 06/15/32		56		72,343
SWF Escrow Issuer Corp., 6.50%, 10/01/29(b)		608		525,434

S C H E D U L E   O F   I N V E S T M E N T  S 8

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)			Value
Household Durables (continued)
Tempur Sealy International, Inc.(b) 4.00%, 04/15/29	$	569		$	516,837
3.88%, 10/15/31		559			479,342
Toll Brothers Finance Corp., 4.35%, 02/15/28		35			35,164
					5,465,246
Independent Power and Renewable Electricity Producers — 0.7%
Calpine Corp.(b) 5.25%, 06/01/26		379			380,895
4.50%, 02/15/28		955			931,583
5.13%, 03/15/28		3,279			3,123,510
5.00%, 02/01/31		5			4,550
Clearway Energy Operating LLC(b) 4.75%, 03/15/28		630			632,728
3.75%, 01/15/32		307			282,440
Greenko Dutch BV, 3.85%, 03/29/26(f)		782			737,843
India Green Energy Holdings, 5.38%, 04/29/24(f)		250			251,900
NRG Energy, Inc. 6.63%, 01/15/27		618			636,868
5.75%, 01/15/28		52			52,853
5.25%, 06/15/29(b)		960			938,141
3.63%, 02/15/31(b)		514			452,109
ReNew Power Pvt Ltd., 5.88%, 03/05/27(f)		200	��		195,660
SMC Global Power Holdings Corp., (5 year CMT + 7.16%), 5.45%(a)(f)(g)		300			264,000
TerraForm Power Operating LLC(b) 4.25%, 01/31/23		214			213,465
5.00%, 01/31/28		231			230,018
4.75%, 01/15/30		127			123,863
					9,452,426
Insurance — 3.7%
Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29(b)		478			441,973
Alliant Holdings Intermediate LLC/Alliant Holdings Co- Issuer(b) 6.75%, 10/15/27		2,837			2,802,786
5.88%, 11/01/29		129			124,001
Allstate Corp., Series B, (3 mo. LIBOR US + 2.94%), 5.75%, 08/15/53(a)		5,000			4,975,000
AmWINS Group, Inc., 4.88%, 06/30/29(b)		551			528,971
Aon Global Ltd., 4.25%, 12/12/42(d)		6,500			6,469,837
Farmers Exchange Capital II, (3 mo. LIBOR US + 3.74%), 6.15%, 11/01/53(a)(b)		4,890			5,755,058
GTCR AP Finance, Inc., 8.00%, 05/15/27(b)		87			88,014
HUB International Ltd.(b) 7.00%, 05/01/26		1,724			1,743,921
5.63%, 12/01/29		181			172,855
Northwestern Mutual Life Insurance Co., 6.06%, 03/30/40(b)(d)		12,000			14,877,005
Principal Financial Group, Inc., (3 mo. LIBOR US + 3.04%), 3.55%, 05/15/55(a)		5,000			4,850,000
Progressive Corp., Series B, (3 mo. LIBOR US + 2.54%), 5.38%(a)(g)		5,000			4,890,000
					47,719,421
Interactive Media & Services — 0.6%
Cablevision Lightpath LLC(b) 3.88%, 09/15/27		368			344,080
5.63%, 09/15/28		540			492,750
Netflix, Inc. 3.63%, 06/15/25(b)		210			211,136
5.88%, 11/15/28		1,698			1,871,705

Security	Par (000)		Value
Interactive Media & Services (continued)
Netflix, Inc. (continued) 5.38%, 11/15/29(b)	$	2,007	$	2,172,577
4.88%, 06/15/30(b)		461		491,749
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc., 4.75%, 04/30/27(b)		614		582,993
Twitter, Inc.(b) 3.88%, 12/15/27		766		743,978
5.00%, 03/01/30		477		474,615
				7,385,583
Internet & Direct Marketing Retail — 0.2%
Amazon.com, Inc., 2.70%, 06/03/60(d)		3,614		2,984,661
Internet Software & Services — 0.8%
ANGI Group LLC, 3.88%, 08/15/28(b)		582		493,035
Booking Holdings, Inc., 3.55%, 03/15/28(d)		3,375		3,403,871
Go Daddy Operating Co. LLC/GD Finance Co., Inc.(b) 5.25%, 12/01/27		370		371,685
3.50%, 03/01/29		265		243,659
Match Group Holdings II LLC(b) 4.13%, 08/01/30		383		358,898
3.63%, 10/01/31		222		198,565
Uber Technologies, Inc.(b) 7.50%, 05/15/25		1,750		1,826,125
8.00%, 11/01/26		481		511,159
7.50%, 09/15/27		1,892		2,017,364
6.25%, 01/15/28		440		454,934
4.50%, 08/15/29		967		906,562
				10,785,857
IT Services — 0.6%
Booz Allen Hamilton, Inc.(b) 3.88%, 09/01/28		735		709,488
4.00%, 07/01/29		995		971,558
CA Magnum Holdings 5.38%, 10/31/26(b)		964		939,900
5.38%, 10/31/26(f)		700		682,500
Camelot Finance SA, 4.50%, 11/01/26(b)		1,254		1,219,515
Dun & Bradstreet Corp., 5.00%, 12/15/29(b)		252		236,880
Fair Isaac Corp., 4.00%, 06/15/28(b)		393		380,471
Gartner, Inc.(b) 4.50%, 07/01/28		587		584,796
3.63%, 06/15/29		121		113,437
3.75%, 10/01/30		984		923,730
Rackspace Technology Global, Inc., 5.38%, 12/01/28(b)(d)		172		149,236
Twilio, Inc., 3.88%, 03/15/31		810		752,909
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29(b)		551		503,628
				8,168,048
Leisure Products — 0.2%
Mattel, Inc. 5.88%, 12/15/27(b)		503		526,188
3.75%, 04/01/29(b)		213		204,953
6.20%, 10/01/40		548		630,378
5.45%, 11/01/41		753		801,569
				2,163,088
Machinery(b) — 0.5%
Colfax Corp., 6.38%, 02/15/26		671		692,163
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25(h)		166		172,640

9

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Machinery (continued)
Madison IAQ LLC 4.13%, 06/30/28	$	200	$	184,328
5.88%, 06/30/29		783		702,743
Terex Corp., 5.00%, 05/15/29		688		659,427
Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26		1,477		1,467,658
TK Elevator Holdco GmbH, 7.63%, 07/15/28		596		590,785
TK Elevator US Newco Inc., 5.25%, 07/15/27		1,547		1,530,030
				5,999,774
Media — 9.8%
Altice Financing SA(b) 5.00%, 01/15/28		863		773,550
5.75%, 08/15/29		2,009		1,826,352
Altice France Holding SA(b) 10.50%, 05/15/27		5,291		5,537,058
6.00%, 02/15/28(d)		734		633,075
AMC Entertainment Holdings, Inc.(b) 7.50%, 02/15/29		862		837,653
(10.00% Cash or 12.00% PIK), 10.00%, 06/15/26(h)		741		665,352
AMC Networks, Inc., 4.25%, 02/15/29		263		245,430
Cable One, Inc., 4.00%, 11/15/30(b)		270		248,999
CCO Holdings LLC/CCO Holdings Capital Corp. 5.13%, 05/01/27(b)(d)		2,592		2,595,823
5.00%, 02/01/28(b)		162		160,299
5.38%, 06/01/29(b)		1,823		1,823,000
4.75%, 03/01/30(b)		579		555,979
4.50%, 08/15/30(b)		3,257		3,056,019
4.25%, 02/01/31(b)		1,861		1,688,857
4.75%, 02/01/32(b)		316		294,272
4.50%, 05/01/32		341		311,913
4.50%, 06/01/33(b)		326		292,585
4.25%, 01/15/34(b)		2,197		1,908,084
Charter Communications Operating LLC/Charter Communications Operating Capital 6.38%, 10/23/35		479		541,141
6.48%, 10/23/45(d)		9,584		10,910,266
5.38%, 05/01/47		1,500		1,535,837
6.83%, 10/23/55		3,540		4,197,262
Clear Channel Outdoor Holdings, Inc.(b) 7.75%, 04/15/28		1,797		1,806,398
7.50%, 06/01/29(d)		2,217		2,212,245
Clear Channel Worldwide Holdings, Inc., 5.13%, 08/15/27(b)(d)		5,455		5,396,031
Comcast Corp. 3.75%, 04/01/40		545		548,604
2.99%, 11/01/63(b)		5,558		4,548,255
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26(b)(d)		4,514		4,592,498
Cox Communications, Inc., 8.38%, 03/01/39(b)		5,000		7,351,897
CSC Holdings LLC 5.25%, 06/01/24		1,061		1,062,342
5.38%, 02/01/28(b)		336		326,108
7.50%, 04/01/28(b)		877		861,652
5.75%, 01/15/30(b)		406		361,340
4.13%, 12/01/30(b)		1,538		1,348,618
4.63%, 12/01/30(b)		200		167,258
3.38%, 02/15/31(b)		225		189,562
4.50%, 11/15/31(b)		680		609,464
5.00%, 11/15/31(b)		542		454,120

Security	Par (000)		Value
Media (continued)
Directv Financing LLC/Directv Financing Co.-Obligor, Inc., 5.88%, 08/15/27(b)	$	897	$	882,424
Discovery Communications LLC, 4.88%, 04/01/43		4,000		4,009,590
DISH DBS Corp. 5.88%, 07/15/22		2,545		2,557,674
7.75%, 07/01/26		1,110		1,102,785
5.25%, 12/01/26(b)		2,398		2,284,095
5.75%, 12/01/28(b)		1,904		1,801,660
Frontier Communications Holdings LLC(b) 5.88%, 10/15/27		1,001		994,293
5.00%, 05/01/28		1,642		1,576,320
6.75%, 05/01/29		1,212		1,163,520
6.00%, 01/15/30		760		703,000
Globe Telecom, Inc., (5 year CMT + 5.53%), 4.20%(a)(f)(g)		700		670,250
Gray Television, Inc., 7.00%, 05/15/27(b)		415		429,525
iHeartCommunications, Inc. 6.38%, 05/01/26		370		380,157
8.38%, 05/01/27		73		75,823
5.25%, 08/15/27(b)		376		371,770
4.75%, 01/15/28(b)		184		175,720
Iliad Holding SASU(b) 6.50%, 10/15/26		978		980,641
7.00%, 10/15/28		757		758,120
Lamar Media Corp., 4.00%, 02/15/30		307		292,034
LCPR Senior Secured Financing DAC(b) 6.75%, 10/15/27		860		883,478
5.13%, 07/15/29		963		919,371
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(b)(h)		823		625,422
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29(b)		1,238		1,193,122
Live Nation Entertainment, Inc.(b) 4.88%, 11/01/24		136		136,545
6.50%, 05/15/27		2,059		2,192,876
4.75%, 10/15/27		391		381,225
Magallanes, Inc., 3.43%, 03/15/24(b)		1,460		1,468,004
Network i2i Ltd., (5 year CMT + 4.27%), 5.65%(a)(f)(g)		695		691,004
Outfront Media Capital LLC/Outfront Media Capital Corp.(b) 5.00%, 08/15/27		476		465,328
4.25%, 01/15/29		336		312,564
4.63%, 03/15/30		55		51,769
Paramount Global, 5.85%, 09/01/43		1,300		1,497,823
Radiate Holdco LLC/Radiate Finance, Inc.(b) 4.50%, 09/15/26		1,459		1,407,935
6.50%, 09/15/28		3,011		2,847,277
Scripps Escrow II, Inc., 3.88%, 01/15/29(b)		37		34,382
Sinclair Television Group, Inc., 4.13%, 12/01/30(b)		65		57,959
Sirius XM Radio, Inc.(b) 3.13%, 09/01/26		1,020		964,382
5.00%, 08/01/27		394		393,015
4.00%, 07/15/28		839		797,050
5.50%, 07/01/29		1,008		1,023,120
4.13%, 07/01/30		2		1,872
3.88%, 09/01/31		500		455,000
Stagwell Global LLC, 5.63%, 08/15/29(b)		209		197,166
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28(b)		1,000		965,000
Time Warner Cable LLC, 6.55%, 05/01/37		3,519		4,046,955
UPC Broadband Finco BV, 4.88%, 07/15/31(b)		934		876,905
Videotron Ltd., 3.63%, 06/15/29(b)		421		390,347

S C H E D U L E   O F   I N V E S T M E N T  S 10

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Media (continued)
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28(b)	$	1,452	$	1,393,920
Walt Disney Co., 2.75%, 09/01/49		3,614		3,075,097
WMG Acquisition Corp., 3.88%, 07/15/30(b)		263		250,507
Ziggo Bond Co. BV, 6.00%, 01/15/27(b)		955		960,969
Ziggo BV, 4.88%, 01/15/30(b)		605		569,747
				125,211,735
Metals & Mining — 1.8%
ABJA Investment Co. Pte. Ltd., 5.45%, 01/24/28(f)		306		315,180
Arconic Corp.(b) 6.00%, 05/15/25		705		721,215
6.13%, 02/15/28		552		553,857
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29(b)		2,157		2,263,168
Commercial Metals Co., 4.88%, 05/15/23		2,194		2,226,910
Constellium SE(b) 5.88%, 02/15/26		996		996,000
3.75%, 04/15/29		1,077		966,608
JSW Steel Ltd., 3.95%, 04/05/27(f)		500		471,750
Kaiser Aluminum Corp.(b) 4.63%, 03/01/28		988		928,088
4.50%, 06/01/31		266		239,823
Mongolian Mining Corp./Energy Resources LLC, 9.25%, 04/15/24(f)		200		143,788
New Gold, Inc., 7.50%, 07/15/27(b)		1,357		1,407,887
Novelis Corp.(b) 3.25%, 11/15/26		862		823,451
4.75%, 01/30/30		2,331		2,263,086
3.88%, 08/15/31		771		705,203
Periama Holdings LLC, 5.95%, 04/19/26(f)		200		202,900
Roller Bearing Co. of America, Inc., 4.38%, 10/15/29(b)		249		232,193
Southern Copper Corp., 5.88%, 04/23/45(d)		3,870		4,711,725
Steel Dynamics, Inc., 3.25%, 10/15/50		1,145		978,440
U.S. Steel Corp., 6.88%, 03/01/29		1,077		1,120,080
Vedanta Resources Finance II PLC(f) 8.00%, 04/23/23		200		191,560
13.88%, 01/21/24		200		209,250
8.95%, 03/11/25		200		194,000
				22,866,162
Multiline Retail — 0.2%
Bath & Body Works, Inc. 6.88%, 11/01/35		1,119		1,152,570
7.60%, 07/15/37		226		234,475
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26(b)		820		842,140
				2,229,185
Offshore Drilling & Other Services — 0.1%
Lam Research Corp., 4.88%, 03/15/49		875		1,042,287
Oil, Gas & Consumable Fuels — 14.1%
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26(b)		657		681,769
Antero Midstream Partners LP/Antero Midstream Finance Corp.(b)
5.75%, 03/01/27		654		666,027
5.75%, 01/15/28		127		129,699
5.38%, 06/15/29		425		424,566
Antero Resources Corp., 5.38%, 03/01/30(b)		230		234,887
Apache Corp. 4.25%, 01/15/30		534		538,280

Security	Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
Apache Corp. (continued) 5.10%, 09/01/40	$	346	$	348,595
5.25%, 02/01/42		57		56,715
5.35%, 07/01/49		198		190,575
Ascent Resources Utica Holdings LLC/ARU Finance Corp.(b)
9.00%, 11/01/27		916		1,254,920
5.88%, 06/30/29		26		25,690
Brand Industrial Services, Inc., 8.50%, 07/15/25(b)		984		915,199
Buckeye Partners LP 4.13%, 03/01/25(b)		594		585,797
5.85%, 11/15/43		383		326,485
5.60%, 10/15/44		376		315,197
Callon Petroleum Co. 6.13%, 10/01/24		282		280,590
9.00%, 04/01/25(b)		2,272		2,408,320
6.38%, 07/01/26		80		79,550
8.00%, 08/01/28(b)(d)		1,261		1,329,308
Cenovus Energy, Inc. 5.38%, 07/15/25		1,186		1,250,608
5.40%, 06/15/47		77		86,698
Centennial Resource Production LLC, 6.88%, 04/01/27(b)		168		168,857
Cheniere Energy Partners LP 4.50%, 10/01/29		1,252		1,258,260
4.00%, 03/01/31		664		643,675
3.25%, 01/31/32(b)		1,310		1,191,170
Cheniere Energy, Inc., 4.63%, 10/15/28		3,534		3,545,839
Chesapeake Energy Corp.(b) 5.88%, 02/01/29		80		82,600
6.75%, 04/15/29		1,024		1,084,554
CNOOC Petroleum North America ULC, 6.40%, 05/15/37(d)		2,000		2,341,920
CNX Resources Corp., 6.00%, 01/15/29(b)		56		56,560
Colgate Energy Partners III LLC(b) 7.75%, 02/15/26		276		294,219
5.88%, 07/01/29(d)		452		465,989
Comstock Resources, Inc.(b) 7.50%, 05/15/25		569		577,535
6.75%, 03/01/29		792		817,011
5.88%, 01/15/30		1,046		1,030,624
Coterra Energy, Inc., 4.38%, 06/01/24(b)		38		38,764
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31(b)		1,718		1,687,763
Crescent Energy Finance LLC, 7.25%, 05/01/26(b)		1,096		1,101,107
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.(b)
5.63%, 05/01/27		139		137,727
6.00%, 02/01/29		65		64,756
8.00%, 04/01/29		286		305,271
CrownRock LP/CrownRock Finance, Inc., 5.63%, 10/15/25(b)		1,677		1,709,257
DCP Midstream Operating LP(b) 6.45%, 11/03/36		247		284,606
6.75%, 09/15/37		1,311		1,537,147
Devon Energy Corp. 8.25%, 08/01/23		811		858,969
5.25%, 09/15/24		100		104,504
5.25%, 10/15/27		130		134,775
5.88%, 06/15/28		204		215,973
4.50%, 01/15/30		117		120,736

11

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
Diamondback Energy, Inc., 3.50%, 12/01/29	$	692	$	685,472
DT Midstream, Inc.(b) 4.13%, 06/15/29		842		807,314
4.38%, 06/15/31		876		838,770
eG Global Finance PLC(b) 6.75%, 02/07/25		703		701,242
8.50%, 10/30/25		787		805,691
Enbridge, Inc.(a)
(3 mo. LIBOR US + 3.64%), 6.25%, 03/01/78		5,000		5,175,907
Series 16-A, (3 mo. LIBOR US + 3.89%), 6.00%, 01/15/77		5,880		6,027,078
Endeavor Energy Resources LP/EER Finance, Inc.(b) 6.63%, 07/15/25		322		334,075
5.75%, 01/30/28		518		535,482
Energy Transfer LP 5.50%, 06/01/27		406		436,303
6.13%, 12/15/45		3,579		3,946,750
Series B, (3 mo. LIBOR US + 4.16%), 6.63%(a)(g)		5,000		4,475,000
EnLink Midstream LLC 5.63%, 01/15/28(b)		481		490,620
5.38%, 06/01/29		324		323,190
EnLink Midstream Partners LP 4.40%, 04/01/24		613		621,004
4.15%, 06/01/25		48		47,833
4.85%, 07/15/26		64		64,000
5.60%, 04/01/44		626		539,925
5.05%, 04/01/45		68		54,910
5.45%, 06/01/47		215		181,138
Enterprise Products Operating LLC 4.90%, 05/15/46(d)		5,375		5,807,813
Series E, (3 mo. LIBOR US + 3.03%), 5.25%, 08/16/77(a)		4,800		4,512,544
EQM Midstream Partners LP 4.13%, 12/01/26		226		216,967
4.75%, 01/15/31(b)		1,255		1,173,425
Exxon Mobil Corp., 3.45%, 04/15/51(d)		3,890		3,770,944
Genesis Energy LP/Genesis Energy Finance Corp., 7.75%, 02/01/28		293		294,554
GMR Hyderabad International Airport Ltd.(f) 5.38%, 04/10/24		200		201,037
4.25%, 10/27/27		200		182,537
Great Western Petroleum LLC/Great Western Finance Corp., 12.00%, 09/01/25(b)		40		44,600
Gulfport Energy Corp., 8.00%, 05/17/26(b)		52		54,006
Harbour Energy PLC, 5.50%, 10/15/26(b)		200		197,500
Harvest Midstream I LP, 7.50%, 09/01/28(b)		115		117,459
Hess Corp., 5.80%, 04/01/47(d)		5,000		5,948,871
Hess Midstream Operations LP, 4.25%, 02/15/30(b)		497		468,969
Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 11/01/28(b)		116		116,580
ITT Holdings LLC, 6.50%, 08/01/29(b)		711		656,765
Kinder Morgan, Inc. 7.80%, 08/01/31		197		251,859
7.75%, 01/15/32(d)		4,586		5,909,955
Marathon Petroleum Corp., 5.13%, 12/15/26		937		997,084
Matador Resources Co., 5.88%, 09/15/26		1,500		1,527,450
Medco Bell Pte. Ltd., 6.38%, 01/30/27(f)		300		291,000
Medco Laurel Tree Pte. Ltd., 6.95%, 11/12/28(f)		400		389,000
Medco Oak Tree Pte. Ltd., 7.38%, 05/14/26(f)		200		202,000

Security	Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
MEG Energy Corp., 6.50%, 01/15/25(b)	$	513	$	521,336
MPLX LP 5.20%, 03/01/47		3,500		3,752,964
4.70%, 04/15/48(d)		5,000		5,036,981
5.50%, 02/15/49		2,640		2,923,878
Murphy Oil Corp. 5.75%, 08/15/25		3		3,057
5.88%, 12/01/27		46		46,805
6.38%, 12/01/42		47		45,048
Murphy Oil USA, Inc., 4.75%, 09/15/29		323		320,278
Nabors Industries Ltd.(b) 7.25%, 01/15/26		109		109,000
7.50%, 01/15/28		354		345,150
Nabors Industries, Inc., 7.38%, 05/15/27(b)		413		429,004
New Fortress Energy, Inc.(b) 6.75%, 09/15/25		1,419		1,427,386
6.50%, 09/30/26		1,543		1,528,758
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26(b)		364		358,063
NGPL PipeCo LLC, 7.77%, 12/15/37(b)		1,117		1,401,865
Northern Oil and Gas, Inc., 8.13%, 03/01/28(b)		1,080		1,125,166
NuStar Logistics LP 6.00%, 06/01/26		373		377,194
6.38%, 10/01/30		45		45,609
Occidental Petroleum Corp. 6.95%, 07/01/24		92		98,785
5.50%, 12/01/25		218		229,401
5.55%, 03/15/26		79		83,740
8.88%, 07/15/30		140		179,550
6.63%, 09/01/30		1,444		1,656,990
6.20%, 03/15/40		1,521		1,688,310
4.50%, 07/15/44		227		216,929
6.60%, 03/15/46		20		23,500
4.40%, 04/15/46		64		60,800
4.40%, 08/15/49		64		60,160
PDC Energy, Inc., 5.75%, 05/15/26		759		769,429
Petroleos Mexicanos 3.50%, 01/30/23		5,000		4,988,750
4.63%, 09/21/23(d)		3,965		3,999,694
6.70%, 02/16/32		695		660,250
Plains All American Pipeline LP, Series B, (3 mo. LIBOR US + 4.11%), 6.13%(a)(g)		2,215		1,878,320
Range Resources Corp. 5.88%, 07/01/22		280		280,000
5.00%, 08/15/22		559		559,000
5.00%, 03/15/23		551		554,857
4.88%, 05/15/25		30		30,365
4.75%, 02/15/30(b)		166		164,868
Rockcliff Energy II LLC, 5.50%, 10/15/29(b)		667		667,617
Rockies Express Pipeline LLC, 6.88%, 04/15/40(b)		580		573,313
Sabine Pass Liquefaction LLC 5.63%, 04/15/23(d)		10,510		10,753,282
5.75%, 05/15/24		2,575		2,695,093
5.88%, 06/30/26		1,481		1,601,073
SM Energy Co. 10.00%, 01/15/25(b)		1,895		2,068,696
5.63%, 06/01/25		44		43,945
6.75%, 09/15/26		292		300,256
6.63%, 01/15/27		121		124,044

S C H E D U L E   O F   I N V E S T M E N T  S 12

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
SM Energy Co. (continued)
6.50%, 07/15/28	$	165	$	170,268
Southwestern Energy Co.
5.95%, 01/23/25		29		30,317
5.38%, 02/01/29		624		631,800
4.75%, 02/01/32		322		321,597
Sunoco LP/Sunoco Finance Corp.
6.00%, 04/15/27		141		143,644
5.88%, 03/15/28		317		320,170
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.(b)
6.00%, 03/01/27		150		149,423
6.00%, 12/31/30		102		98,976
6.00%, 09/01/31		198		190,624
Tap Rock Resources LLC, 7.00%, 10/01/26(b)		1,323		1,369,464
TransCanada PipeLines Ltd., 4.88%, 05/15/48(d)		4,000		4,484,900
Transcanada Trust, (3 mo. LIBOR US + 3.53%), 5.63%, 05/20/75(a)		2,755		2,755,826
Transocean, Inc., 11.50%, 01/30/27(b)		294		303,555
Venture Global Calcasieu Pass LLC(b)
3.88%, 08/15/29		1,582		1,537,910
4.13%, 08/15/31		1,500		1,471,725
3.88%, 11/01/33		2,608		2,493,900
Western Midstream Operating LP
4.55%, 02/01/30		282		280,590
5.45%, 04/01/44		12		12,165
5.30%, 03/01/48		1,010		999,900
5.50%, 08/15/48		117		115,538
5.75%, 02/01/50		1,445		1,408,875
Williams Cos., Inc.
4.55%, 06/24/24		527		541,356
8.75%, 03/15/32		2,478		3,365,824
5.10%, 09/15/45(d)		5,075		5,498,899
				179,920,071
Personal Products — 0.0%
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC, 4.75%, 01/15/29(b)		299		279,001
Pharmaceuticals — 4.2%
AbbVie, Inc.(d)
4.75%, 03/15/45		5,485		5,971,135
4.70%, 05/14/45		3,255		3,533,959
Bausch Health Americas, Inc., 8.50%, 01/31/27(b)		1,137		1,133,896
Bausch Health Cos., Inc.(b)
9.00%, 12/15/25(e)		764		791,561
6.13%, 02/01/27		250		251,585
7.00%, 01/15/28		395		353,636
6.25%, 02/15/29		392		321,440
7.25%, 05/30/29		1,242		1,059,339
5.25%, 02/15/31		78		60,712
CVS Health Corp.(d)
5.13%, 07/20/45		3,879		4,378,656
5.05%, 03/25/48		8,205		9,292,088
Elanco Animal Health, Inc., 6.40%, 08/28/28		353		378,600
Endo Dac/Endo Finance LLC/Endo Finco, Inc., 9.50%, 07/31/27(b)(d)		994		872,235
Endo Luxembourg Finance Co. I SARL/Endo U.S., Inc., 6.13%, 04/01/29(b)		983		896,988
Jazz Securities DAC, 4.38%, 01/15/29(b)		853		826,344
Merck & Co., Inc., 6.50%, 12/01/33(d)		6,420		8,437,557

Security	Par (000)		Value
Pharmaceuticals (continued)
Option Care Health, Inc., 4.38%, 10/31/29(b)	$	265	$	248,438
Organon and Co./Organon Foreign Debt Co-Issuer BV(b)
4.13%, 04/30/28		1,633		1,555,767
5.13%, 04/30/31		1,599		1,543,035
P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25(b)		394		362,480
Par Pharmaceutical, Inc., 7.50%, 04/01/27(b)		3,021		2,819,046
PRA Health Sciences, Inc., 2.88%, 07/15/26(b)		1,021		971,543
Prestige Brands, Inc., 3.75%, 04/01/31(b)		318		283,815
Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30(d)		8,270		7,464,796
Teva Pharmaceutical Finance Netherlands III BV, 7.13%, 01/31/25		200		209,140
				54,017,791
Real Estate Management & Development — 1.2%
Agile Group Holdings Ltd.(f)
5.75%, 01/02/25		200		66,000
6.05%, 10/13/25		200		64,000
AYC Finance Ltd., 3.90%(f)(g)		300		252,000
China Aoyuan Group Ltd.(f)(i)(j)
7.95%, 02/19/23		230		36,800
6.20%, 03/24/26		420		67,200
China Evergrande Group(f)(i)(j)
10.00%, 04/11/23		300		37,500
7.50%, 06/28/23		300		36,750
9.50%, 03/29/24		300		37,500
10.50%, 04/11/24		350		43,750
China SCE Group Holdings Ltd.(f)
7.25%, 04/19/23		200		146,412
7.38%, 04/09/24		200		110,537
CIFI Holdings Group Co. Ltd.(f)
6.55%, 03/28/24		450		396,000
6.45%, 11/07/24		450		396,000
Dexin China Holdings Co. Ltd., 9.95%, 12/03/22(f)		298		149,000
Easy Tactic Ltd.(f)
9.13%, 07/28/22		200		51,000
12.38%, 11/18/22		200		46,788
Fantasia Holdings Group Co. Ltd., 7.95%, 07/05/22(f)(i)(j)		1,050		141,750
Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25(b)		183		187,264
Global Prime Capital Pte. Ltd., 5.95%, 01/23/25(f)		200		190,000
GLP Pte. Ltd., (5 year CMT + 3.74%), 4.50%(a)(f)(g)		200		177,912
Greystar Real Estate Partners LLC, 5.75%, 12/01/25(b)		360		362,700
Hopson Development Holdings Ltd., 7.00%, 05/18/24(f)		229		176,373
Howard Hughes Corp.(b)
5.38%, 08/01/28		762		765,033
4.13%, 02/01/29		176		165,134
4.38%, 02/01/31		46		43,240
Kaisa Group Holdings Ltd.(f)(i)(j)
11.50%, 01/30/23		200		38,000
10.88%, 07/23/23		200		39,100
9.75%, 09/28/23		200		37,475
11.95%, 11/12/23		249		48,555
9.38%, 06/30/24		850		153,000
Kennedy-Wilson, Inc., 4.75%, 02/01/30		282		268,157
KWG Group Holdings Ltd., 5.88%, 11/10/24(f)		400		152,000
Logan Group Co. Ltd.(f)
4.25%, 09/17/24		300		60,337
4.50%, 01/13/28		269		53,800
Modern Land China Co. Ltd., 11.50%, 11/13/22(f)(i)(j)		1,130		203,400

13

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Real Estate Management & Development (continued)
New Metro Global Ltd., 4.50%, 05/02/26(f)	$	349	$	223,360
Northwest Florida Timber Finance LLC, 4.75%, 03/04/29(b)(d)		4,485		4,490,916
Pakuwon Jati Tbk PT, 4.88%, 04/29/28(f)		500		476,500
Powerlong Real Estate Holdings Ltd.(f) 6.25%, 08/10/24		500		190,000
5.95%, 04/30/25		500		180,000
Realogy Group LLC/Realogy Co.-Issuer Corp.(b) 5.75%, 01/15/29		362		341,185
5.25%, 04/15/30		263		241,960
Redsun Properties Group Ltd., 10.50%, 10/03/22(f)		200		53,146
RKPF Overseas 2019 A Ltd.(f)
Series 2019-A, 6.70%, 09/30/24		400		342,000
Series 2019-A, 5.90%, 03/05/25		200		155,000
RKPF Overseas 2020 A Ltd., Series 2020-A, 5.20%, 01/12/26(f)		306		235,620
Ronshine China Holdings Ltd.(f) 7.35%, 12/15/23		307		52,190
6.75%, 08/05/24		940		150,400
7.10%, 01/25/25		200		30,000
Seazen Group Ltd., 6.00%, 08/12/24(f)		400		272,000
Shimao Group Holdings Ltd., 3.45%, 01/11/31(f)		200		50,000
Shui On Development Holding Ltd.(f) 5.75%, 11/12/23		550		525,250
5.50%, 03/03/25		230		210,450
Starwood Property Trust, Inc., 4.38%, 01/15/27(b)		150		145,500
Sunac China Holdings Ltd.(f) 6.65%, 08/03/24		200		49,000
6.50%, 01/10/25		200		49,000
7.00%, 07/09/25		782		191,590
Theta Capital Pte. Ltd., 8.13%, 01/22/25(f)		200		201,000
Times China Holdings Ltd.(f) 6.75%, 07/08/25		570		222,300
5.75%, 01/14/27		326		117,360
Wanda Properties International Co. Ltd., 7.25%, 01/29/24(f)		660		574,200
Yango Justice International Ltd.(f)(i)(j) 8.25%, 11/25/23		200		10,000
7.50%, 04/15/24		200		10,000
Yanlord Land HK Co. Ltd.(f) 6.75%, 04/23/23		200		194,000
6.80%, 02/27/24		200		190,000
5.13%, 05/20/26		200		180,000
Yuzhou Group Holdings Co. Ltd.(f)(i)(j) 7.70%, 02/20/25		200		28,000
7.38%, 01/13/26		1,300		169,650
Zhenro Properties Group Ltd., 7.35%, 02/05/25(f)		583		61,215
				15,813,259
Road & Rail — 1.8%
BNSF Funding Trust I, (3 mo. LIBOR US + 2.35%), 6.61%, 12/15/55(a)(d)		6,125		6,492,500
CSX Corp., 3.80%, 04/15/50		770		781,708
Norfolk Southern Corp., 6.00%, 03/15/2105(d)		12,700		15,070,011
Seaspan Corp., 5.50%, 08/01/29(b)		683		639,459
				22,983,678
Semiconductors & Semiconductor Equipment — 2.0%
Broadcom, Inc., 5.00%, 04/15/30(d)		10,970		11,661,040

Security	Par (000)		Value
Semiconductors & Semiconductor Equipment (continued)
NVIDIA Corp.(d) 3.50%, 04/01/50	$	2,785	$	2,814,549
3.70%, 04/01/60		1,760		1,781,779
NXP BV/NXP Funding LLC/NXP USA, Inc., 3.40%, 05/01/30(b)		1,755		1,703,684
ON Semiconductor Corp., 3.88%, 09/01/28(b)		638		609,290
QUALCOMM, Inc., 4.30%, 05/20/47(d)		3,500		3,938,493
Sensata Technologies BV(b) 5.63%, 11/01/24		695		718,456
5.00%, 10/01/25		572		579,865
4.00%, 04/15/29		433		412,315
Sensata Technologies, Inc., 4.38%, 02/15/30(b)		1,950		1,864,873
				26,084,344
Software — 1.4%
Black Knight InfoServ LLC, 3.63%, 09/01/28(b)		859		814,074
Boxer Parent Co., Inc.(b) 7.13%, 10/02/25		764		791,917
9.13%, 03/01/26		336		346,080
Condor Merger Sub, Inc., 7.38%, 02/15/30(b)		1,039		996,650
Crowdstrike Holdings, Inc., 3.00%, 02/15/29		114		104,595
Elastic NV, 4.13%, 07/15/29(b)		718		667,711
Helios Software Holdings, Inc./ION Corp. Solutions Finance SARL, 4.63%, 05/01/28(b)		205		188,356
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32(b)		273		255,937
MSCI, Inc.(b) 3.63%, 09/01/30		131		122,797
3.88%, 02/15/31		707		670,346
3.63%, 11/01/31		264		248,490
3.25%, 08/15/33		397		356,829
Open Text Corp.(b) 3.88%, 02/15/28		474		454,457
3.88%, 12/01/29		315		299,250
Open Text Holdings, Inc., 4.13%, 02/15/30(b)		901		854,324
Oracle Corp., 3.95%, 03/25/51		4,425		3,868,402
Playtika Holding Corp., 4.25%, 03/15/29(b)		1,144		1,055,340
PTC, Inc.(b) 3.63%, 02/15/25		166		164,133
4.00%, 02/15/28		867		844,692
SS&C Technologies, Inc., 5.50%, 09/30/27(b)(d)		3,862		3,891,023
Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25(b)		1,382		1,311,110
				18,306,513
Specialty Retail(b) — 0.5%
PetSmart, Inc./PetSmart Finance Corp. 4.75%, 02/15/28		731		706,442
7.75%, 02/15/29		3,703		3,823,348
Staples, Inc. 7.50%, 04/15/26		1,754		1,703,318
10.75%, 04/15/27		276		245,640
				6,478,748
Technology Hardware, Storage & Peripherals — 0.5%
Dell International LLC/EMC Corp. 5.85%, 07/15/25		2,395		2,556,263
8.35%, 07/15/46		2,355		3,441,574
II-VI, Inc., 5.00%, 12/15/29(b)		690		674,475
				6,672,312

S C H E D U L E   O F   I N V E S T M E N T  S 14

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Textiles, Apparel & Luxury Goods(b) — 0.1%
Crocs, Inc., 4.13%, 08/15/31	$	244	$	206,180
Levi Strauss & Co., 3.50%, 03/01/31		236		216,119
William Carter Co., 5.63%, 03/15/27		365		370,387
Wolverine World Wide, Inc., 4.00%, 08/15/29		209		185,488
				978,174
Thrifts & Mortgage Finance — 0.2%
Home Point Capital, Inc., 5.00%, 02/01/26(b)		449		367,870
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 5.25%, 10/01/25(b)		268		266,995
MGIC Investment Corp., 5.25%, 08/15/28		337		332,926
Nationstar Mortgage Holdings, Inc.(b) 6.00%, 01/15/27		524		533,222
5.13%, 12/15/30		163		150,775
5.75%, 11/15/31		197		187,881
Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc., 2.88%, 10/15/26(b)		164		150,576
				1,990,245
Tobacco(d) — 1.9%
Altria Group, Inc., 10.20%, 02/06/39		13,392		19,480,964
BAT Capital Corp., 4.54%, 08/15/47		3,000		2,677,162
Reynolds American, Inc., 5.85%, 08/15/45		2,335		2,402,544
				24,560,670
Transportation Infrastructure — 0.6%
FedEx Corp., 5.25%, 05/15/50		6,000		6,948,628
Signature Aviation U.S. Holdings, Inc., 4.00%, 03/01/28(b)		541		534,238
				7,482,866
Utilities — 0.3%
Consensus Cloud Solutions, Inc., 6.50%, 10/15/28(b)		286		284,190
India Green Power Holdings, 4.00%, 02/22/27(f)		700		638,750
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(f)		605		541,399
Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 08/15/28(b)		1,087		1,069,401
ReNew Wind Energy AP2/ReNew Power Pvt Ltd., 4.50%, 07/14/28(f)		550		500,500
Vistra Operations Co. LLC(b) 5.63%, 02/15/27		812		811,314
4.38%, 05/01/29		471		445,095
				4,290,649
Wireless Telecommunication Services — 3.4%
Altice France SA(b) 8.13%, 02/01/27		528		544,437
5.50%, 01/15/28		1,180		1,093,506
5.13%, 01/15/29		338		302,790
5.13%, 07/15/29		1,815		1,626,694
5.50%, 10/15/29		1,369		1,228,376
American Tower Corp., 3.60%, 01/15/28		4,000		3,961,668
Crown Castle International Corp. 3.65%, 09/01/27(d)		8,000		7,941,934
4.15%, 07/01/50		820		799,856
Digicel International Finance Ltd./Digicel Holdings Bermuda Ltd., 8.75%, 05/25/24(b)		635		630,357
Rogers Communications, Inc., 4.55%, 03/15/52(b)		5,433		5,401,262
SBA Communications Corp., 3.88%, 02/15/27		2,566		2,502,941
Sprint Corp. 7.88%, 09/15/23		421		447,312
7.13%, 06/15/24		796		853,750

Security	Par (000)		Value
Wireless Telecommunication Services (continued)
Sprint Corp. (continued) 7.63%, 03/01/26	$	1,196	$	1,350,057
T-Mobile USA, Inc. 4.75%, 02/01/28		913		927,973
2.63%, 02/15/29		438		399,776
2.88%, 02/15/31		443		399,112
3.50%, 04/15/31		821		772,545
3.50%, 04/15/31(b)		751		706,676
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 6.50%, 02/15/29(b)		1,085		1,011,600
VICI Properties LP/VICI Note Co., Inc.(b) 3.50%, 02/15/25		946		932,046
4.25%, 12/01/26		2,963	��	2,950,555
3.75%, 02/15/27		748		727,430
4.63%, 12/01/29		1,298		1,294,755
4.13%, 08/15/30		3,067		2,960,759
Vmed O2 U.K. Financing I PLC, 4.75%, 07/15/31(b)		1,234		1,163,045
				42,931,212
Total Corporate Bonds — 109.9% (Cost: $1,377,541,051)				1,407,203,678
Floating Rate Loan Interests(a)
Aerospace & Defense — 0.2%
Atlas CC Acquisition Corp.
Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 05/25/28		639		635,000
Term Loan C, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 05/25/28		107		105,842
Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, 4.25%, 11/16/28(k)		100		98,792
Dynasty Acquisition Co., Inc.
2020 CAD Term Loan B2, (3 mo. LIBOR + 3.50%), 4.51%, 04/06/26		82		80,728
2020 Term Loan B1, (3 mo. LIBOR + 3.50%), 4.51%, 04/06/26		153		150,155
Peraton Corp.
2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 8.50%, 02/01/29		238		235,529
Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/01/28		1,040		1,031,406
TransDigm, Inc., 2020 Term Loan F, (1 mo. LIBOR + 2.25%), 2.71%, 12/09/25		264		260,079
				2,597,531
Air Freight & Logistics — 0.0%
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 04/06/28		100		99,075
Kestrel Bidco, Inc., Term Loan B, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 12/11/26		30		29,128
PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%), 4.76%, 12/17/28		150		148,493
				276,696
Airlines — 0.2%
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 04/20/28		436		440,879
Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/11/28		374		370,103

15

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Airlines (continued)
American Airlines, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 2.20%, 01/29/27(k)	$	389	$	363,028
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.25%, 06/20/27		533		552,115
United Airlines, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 04/21/28		447		442,028
				2,168,153
Auto Components — 0.1%
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 04/30/26		452		445,785
Truck Hero, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 01/31/28		264		255,742
USI, Inc., 2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 4.01%, 05/16/24		375		372,198
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 02/05/26		492		476,070
				1,549,795
Banks — 0.1%
Directv Financing LLC, Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 5.75%, 08/02/27		401		399,678
LABL, Inc., 2021 USD 1st Lien Term Loan, (1 mo. LIBOR + 5.00%), 5.50%, 10/29/28(k)		223		220,680
				620,358
Beverages — 0.0%
Naked Juice LLC
Delayed Draw Term Loan, (SOFR + 3.25%), 3.75%, 01/24/29		19		18,503
Term Loan, (SOFR + 3.25%), 3.32%, 01/24/29(k)		326		320,720
				339,223
Building Products — 0.1%
Associated Materials Inc., 6.50%, 03/08/29		98		94,288
CP Atlas Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 11/23/27		226		219,686
CPG International, Inc., 2017 Term Loan, (1 Week LIBOR + 2.50%, 0.75% Floor), 3.25%, 05/05/24		100		99,050
Jeld-Wen, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 07/28/28		100		98,726
Standard Industries, Inc., 2021 Term Loan B, (6 mo. LIBOR + 2.50%), 3.79%, 09/22/28		75		74,483
Wilsonart LLC, 2021 Term Loan E, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.50%, 12/31/26		300		292,211
				878,444
Capital Markets — 0.1%
Deerfield Dakota Holding LLC, 2020 USD Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 04/09/27		1,004		998,166
Eagle Broadband Investments LLC, Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 4.06%, 11/12/27		150		147,529
				1,145,695
Chemicals — 0.2%
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 08/27/26		261		259,750
Atotech BV, 2021 USD Term Loan B, (1 mo. LIBOR + 2.50%), 3.00%, 03/18/28		375		370,642
Element Solutions, Inc., 2019 Term Loan B1, (1 mo. LIBOR + 2.00%), 2.46%, 01/31/26(k)		111		110,941

Security	Par (000)		Value
Chemicals (continued)
Lonza Group AG, USD 1st Lien Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.01%, 07/03/28	$	18	$	17,528
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 3.51%, 03/02/26		100		98,486
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.70%, 05/15/24		200		196,744
New Arclin U.S. Holding Corp.(k)
2021 Delayed Draw Term Loan, 1.00%, 10/02/28		28		27,053
2021 Term Loan, (1 mo. LIBOR + 3.75%), 4.25%, 09/30/28		190		184,852
Oxea Holding Drei GmbH, 2017 USD Term Loan B2, (1 mo. LIBOR + 3.25%), 3.56%, 10/14/24		226		220,915
PQ Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.50%), 3.00%, 06/09/28(k)		187		185,336
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (6 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 03/16/27		76		74,602
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/02/28(c)		187		184,195
				1,931,044
Commercial Services & Supplies — 0.2%
Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 05/12/28		300		295,259
Aramark Services, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.50%), 2.96%, 04/06/28(k)		113		111,305
Asurion LLC
2020 Term Loan B8, (1 mo. LIBOR + 3.25%), 3.71%, 12/23/26		226		220,262
2021 2nd Lien Term Loan B3, (1 mo. LIBOR + 5.25%), 5.71%, 01/31/28		375		367,125
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 10/08/28(k)		149		147,324
Covanta Holding Corp.(k)
2021 Term Loan B, (1 mo. LIBOR + 2.50%), 3.00%, 11/30/28		84		83,223
2021 Term Loan C, (1 mo. LIBOR + 2.50%), 3.00%, 11/30/28		6		6,234
Dealer Tire LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 4.71%, 12/12/25		224		223,023
GFL Environmental, Inc., 2020 Term Loan, (3 mo. LIBOR + 3.00%), 3.50%, 05/30/25		112		111,440
KAR Auction Services, Inc., 2019 Term Loan B6, (1 mo. LIBOR + 2.25%), 2.75%, 09/19/26(c)		102		100,722
Packers Holdings LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 03/09/28		201		197,771
Prime Security Services Borrower LLC, 2021 Term Loan, (6 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 09/23/26(k)		150		148,750
Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 4.46%, 08/27/25		335		333,480
Viad Corp., Initial Term Loan, (1 mo. LIBOR + 5.00%), 5.50%, 07/30/28		150		147,380
				2,493,298
Communications Equipment — 0.0%
ViaSat, Inc., Term Loan, (3 mo. LIBOR + 4.50%), 5.00%, 03/04/29		272		270,195

S C H E D U L E   O F   I N V E S T M E N T  S 16

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Construction & Engineering — 0.1%
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.26%, 06/21/24	$	620	$	589,867
Pike Corp., 2021 Incremental Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 01/21/28		75		74,279
SRS Distribution, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 06/02/28		684		676,071
USIC Holdings, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 05/12/28(k)		150		148,312
				1,488,529
Construction Materials — 0.1%
Core & Main LP, 2021 Term Loan B, (1 mo. LIBOR + 2.50%), 2.95%, 07/27/28		563		557,239
Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 03/29/25		562		555,128
Tamko Building Products LLC, Term Loan B, (2 mo. LIBOR + 3.00%), 3.30%, 05/29/26		12		11,628
				1,123,995
Containers & Packaging — 0.1%
BWAY Holding Co., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 3.48%, 04/03/24		377		372,171
Charter NEX US, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/01/27		1,009		1,002,694
Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 4.46%, 08/01/26		187		182,326
Tosca Services LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/18/27(c)		262		256,147
				1,813,338
Distributors — 0.0%
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. LIBOR + 2.00%), 2.46%, 01/15/27		124		121,724
TMK Hawk Parent Corp., 2020 Super Priority Second Out Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 08/28/24(k)		122		103,677
				225,401
Diversified Consumer Services — 0.1%
Amentum Government Services Holdings LLC, 2022 Term Loan, (SOFR + 4.00%), 4.50%, 02/15/29		54		53,392
Ascend Learning, LLC
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 6.25%, 12/10/29		100		99,250
2021 Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 12/10/28(k)		149		147,984
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.75%, 11/23/28		126		124,114
Midas Intermediate Holdco II LLC, 2020 Term Loan B, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.68%, 12/22/25		485		445,151
Ola Singapore PTE, Ltd., Term Loan, (SOFR + 6.25%, 0.75% Floor), 7.00%, 12/15/26		127		122,714
PAI Holdco, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 10/28/27		113		111,729
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR + 4.50%), 5.00%, 01/15/27		373		372,534
				1,476,868

Security	Par (000)		Value
Diversified Financial Services — 0.4%
Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 4.96%, 07/31/26	$	373	$	371,065
Alchemy Copyrights LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 3.50%, 03/10/28(c)		150		149,060
AlixPartners LLP, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 3.25%, 02/04/28(k)		188		184,391
AqGen Island Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 4.56%, 08/02/28(c)		458		453,992
Castlelake Aviation Ltd., Term Loan B, (3 mo. LIBOR + 2.75%), 3.25%, 10/22/26(k)		262		254,964
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.50%), 3.00%, 09/01/28		225		223,112
Delta TopCo, Inc.
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.00%, 12/01/28		50		48,916
2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/01/27		187		184,006
Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.01%, 10/01/27(c)		447		445,751
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (1 mo. LIBOR + 4.00%), 4.50%, 02/16/28		50		49,476
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 07/03/24		75		73,703
KKR Apple Bidco LLC
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 6.25%, 09/21/29		15		14,878
2021 Term Loan, (1 mo. LIBOR + 3.00%), 3.50%, 09/23/28		40		39,333
LBM Acquisition LLC, Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.21%, 12/18/27(k)		250		244,507
LEB Holdings (USA), Inc, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 11/02/27		75		74,297
Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 09/25/26(k)		299		296,371
RVR Dealership Holdings LLC, Term Loan B, (SOFR + 3.75%, 0.75% Floor), 4.50%, 02/08/28		75		71,375
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3 mo. LIBOR + 2.00%), 3.01%, 11/05/28		75		73,813
SMG U.S. Midco 2, Inc., 2020 Term Loan, (3 mo. LIBOR + 2.50%), 2.96%, 01/23/25		154		147,463
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 5.26%, 07/30/25		230		223,590
Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 6.01%, 09/01/25		682		678,384
VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 02/28/27		301		297,969
White Cap Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 10/19/27		75		73,782
Ziggo Financing Partnership, USD Term Loan I, (3 mo. LIBOR + 2.50%), 2.90%, 04/30/28		126		123,973
				4,798,171
Diversified Telecommunication Services — 0.0%
Cablevision Lightpath LLC, Term Loan B, (3 mo. LIBOR + 3.25%), 3.75%, 11/30/27		112		110,432

17

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Diversified Telecommunication Services (continued)
Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.81%, 05/01/28(k)	$	187	$	183,883
Iridium Satellite LLC, 2021 Term Loan B2, (1 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 11/04/26		223		221,370
				515,685
Electric Utilities — 0.1%
ExGen Renewables IV LLC, 2020 Term Loan, (3 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 12/15/27		262		259,218
Triton Water Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 4.51%, 03/31/28		569		553,929
				813,147
Electrical Equipment — 0.0%
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 06/23/28		223		220,181
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.50%, 0.01% Floor), 3.25%, 03/31/27		184		180,921
II-VI, Inc., 2021 Bridge Term Loan B, (3 mo. LIBOR + 3.00%), 3.71%, 12/01/28(c)(k)		125		124,063
				525,165
Environmental, Maintenance & Security Service — 0.0%
Asplundh Tree Expert LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 09/07/27		113		111,321
TruGreen LP, 2020 Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 11/02/27		37		36,645
				147,966
Food & Staples Retailing — 0.0%
U.S. Foods, Inc., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.26%, 11/22/28(k)		249		246,770
Food Products — 0.2%
8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.21%, 10/01/25		164		142,020
B&G Foods, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 2.96%, 10/10/26(k)		112		109,620
Chobani LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 10/23/27(k)		595		585,806
Froneri International Ltd., 2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 2.71%, 01/29/27		571		559,445
Naked Juice LLC, 2nd Lien Term Loan, (3 mo. LIBOR + 6.00%), 6.65%, 01/24/30		178		177,112
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 06/08/28		224		221,281
UTZ Quality Foods LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 01/20/28		188		184,596
				1,979,880
Gas Utilities — 0.0%
Freeport LNG Investments, LLLP, Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 12/21/28		413		409,895
Health Care Equipment & Supplies — 0.1%
Electron BidCo, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.26%, 11/01/28(k)		301		297,331

Security	Par (000)		Value
Health Care Equipment & Supplies (continued)
Insulet Corp., Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 05/04/28(c)	$	112	$	110,881
Medline Borrower, LP, USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 10/21/28		753		745,093
Ortho-Clinical Diagnostics SA, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.23%, 06/30/25		374		372,246
				1,525,551
Health Care Providers & Services — 0.1%
CHG Healthcare Services, Inc., 2021 Term Loan, (6 mo. LIBOR + 3.50%), 4.51%, 09/29/28		187		184,608
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.01%, 01/08/27		297		296,385
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.20%, 10/10/25		297		197,178
EyeCare Partners LLC, 2020 Term Loan, (3 mo. LIBOR + 3.75%), 4.76%, 02/18/27		200		197,611
Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.50%), 5.51%, 03/05/26(c)		158		142,118
Orbcomm, Inc., Term Loan B, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 09/01/28		150		148,004
Sotera Health Holdings LLC, 2021 Term Loan, (3 mo. LIBOR + 2.75%), 3.25%, 12/13/26		126		124,214
WP CityMD Bidco LLC, 2021 1st Lien Term Loan B, (6 mo. LIBOR + 3.25%), 3.75%, 12/23/28		250		248,360
				1,538,478
Health Care Services — 0.0%
Azalea Topco, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 3.80%, 07/25/26		377		372,508
Unified Physician Management LLC, 2020 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 12/18/27		75		73,712
				446,220
Health Care Technology — 0.1%
Athenahealth, Inc.
2022 Delayed Draw Term loan, 0.00%, 02/15/29(l)		65		28,319
2022 Term Loan B, (SOFR + 3.50%), 4.00%, 02/15/29		386		381,344
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 3.21%, 10/10/25(k)		125		123,829
Polaris Newco LLC, USD Term Loan B, (1 mo. LIBOR + 4.00%), 4.50%, 06/04/28		224		221,595
				755,087
Hotels, Restaurants & Leisure — 0.3%
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 2.21%, 11/19/26		189		185,211
Caesars Resort Collection LLC, 2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 3.21%, 12/23/24		451		448,005
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.01%, 03/08/24		586		550,104
Fertitta Entertainment LLC, 2022 Term Loan B, (SOFR + 4.00%), 4.50%, 01/27/29		559		555,965
Four Seasons Hotels Ltd., New 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 2.46%, 11/30/23		100		99,578
IRB Holding Corp., 2022 Term Loan B, (SOFR + 3.00%, 0.75% Floor), 3.75%, 12/15/27(k)		549		546,332

S C H E D U L E   O F   I N V E S T M E N T  S 18

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Hotels, Restaurants & Leisure (continued)
Playtika Holding Corp., 2021 Term Loan, (1 mo. LIBOR + 2.75%), 3.21%, 03/11/28	$	225	$	222,352
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 2.25%), 3.26%, 07/21/26		75		73,955
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 02/08/27		126		123,826
Travelport Finance Luxembourg SARL, 2021 Consented Term Loan, (1.75% PIK), 6.01%, 05/29/26(h)		319		280,635
Twin River Worldwide Holdings, Inc., 2021 Term Loan B, (6 mo. LIBOR + 3.25%), 3.75%, 10/01/28		75		74,345
Whatabrands LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 08/03/28(k)		262		259,549
				3,419,857
Household Durables — 0.1%
ACProducts Holdings, Inc., 2021 Term Loan B, (6 mo. LIBOR + 4.25%), 4.75%, 05/17/28		277		250,044
Snap One Holdings Corp., Term Loan B, (3 mo. LIBOR + 4.50%), 5.51%, 12/08/28		188		184,240
Solis IV BV, USD Term Loan B1, (3 mo. LIBOR + 3.50%), 4.00%, 02/26/29		262		256,433
Springs Windows Fashions LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/06/28		76		73,593
Weber-Stephen Products LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 10/30/27		125		120,875
				885,185
Industrial Conglomerates — 0.1%
AVSC Holding Corp., 2020 Term Loan B1, (0.25% PIK), 4.25%, 03/03/25(h)		466		439,818
Diamond BC BV, 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 3.25%, 09/29/28		300		294,284
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 7.75%, 11/28/23		19		19,222
Vertical US Newco, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 07/30/27(k)		100		98,938
Vertiv Group Corp., 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 2.99%, 03/02/27		460		448,899
				1,301,161
Insurance — 0.2%
Alliant Holdings Intermediate LLC(k)
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 05/09/25		627		621,364
2021 Term Loan B4, (1 mo. LIBOR + 3.50%), 4.00%, 11/06/27		120		118,785
AmWINS Group, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 02/19/28		176		172,483
AssuredPartners, Inc., 2020 Term Loan B, (1 mo. LIBOR + 3.50%), 3.96%, 02/13/27		263		259,771
Hub International Ltd.(k)
2018 Term Loan B, (2 mo. LIBOR + 3.00%), 3.27%, 04/25/25		452		447,383
2021 Term Loan B, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 04/25/25		112		111,186

Security	Par (000)		Value
Insurance (continued)
Ryan Specialty Group LLC, Term Loan, (1 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 09/01/27	$	125	$	123,645
Sedgwick Claims Management Services, Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 4.21%, 09/03/26(k)		224		223,243
				2,077,860
Interactive Media & Services — 0.1%
Adevinta ASA, USD Term Loan B, (3 mo. LIBOR + 2.75%, 0.75% Floor), 3.76%, 06/26/28(k)		372		366,861
Arches Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 12/06/27		125		122,435
Camelot U.S. Acquisition 1 Co., 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 10/31/26		433		428,424
Go Daddy Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.45%, 08/10/27(k)		126		124,779
Grab Holdings, Inc., Term Loan B, (6 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 01/29/26		448		436,672
				1,479,171
Internet & Direct Marketing Retail — 0.0%
CNT Holdings I Corp., 2020 Term Loan, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 11/08/27		200		198,708
Internet Software & Services — 0.0%
Uber Technologies, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%), 3.96%, 02/25/27(k)		499		497,500
IT Services — 0.3%
Aruba Investments, Inc., 2020 USD Term Loan, (6 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 11/24/27		75		73,875
Banff Merger Sub, Inc., 2021 USD Term Loan, (3 mo. LIBOR + 3.75%), 4.21%, 10/02/25		225		223,798
Camelot U.S. Acquisition 1 Co., Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 10/31/26		125		123,175
CCC Intelligent Solutions, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 3.26%, 09/21/28		188		185,467
CoreLogic, Inc.
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 7.00%, 06/04/29		100		98,375
Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 06/04/28		498		492,453
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 1.75%), 2.21%, 04/30/28		226		222,266
Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 12/01/27		929		926,930
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 02/13/27		379		370,976
Trans Union LLC, 2021 Term Loan B6, (1 mo. LIBOR + 2.25%), 2.75%, 12/01/28		451		445,516
Virtusa Corp., 1st Lien Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28(c)(k)		75		74,250
WEX, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.25%), 2.71%, 03/31/28(k)		125		123,326
				3,360,407
Leisure Products — 0.0%
Fender Musical Instruments Corp., 2021 Term Loan B, (SOFR + 4.00%), 4.50%, 12/01/28		100		99,000
Life Sciences Tools & Services — 0.2%
Avantor Funding, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.25%), 2.75%, 11/08/27		299		296,522

19

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Life Sciences Tools & Services (continued)
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 02/04/27	$	557	$	554,911
ICON Luxembourg SARL
LUX Term Loan, (3 mo. LIBOR + 2.25%), 3.31%, 07/01/28		212		224,045
US Term Loan, (3 mo. LIBOR + 2.25%), 3.31%, 07/01/28		53		55,821
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3 mo. LIBOR + 3.00%), 3.50%, 10/19/27(c)(k)		187		186,065
Parexel International Corp., 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 11/15/28		524		519,698
				1,837,062
Machinery — 0.2%
Albion Financing 3 SARL, USD Term Loan, (3 mo. LIBOR + 5.25%), 5.75%, 08/17/26		224		222,007
ASP Blade Holdings, Inc., Initial Term Loan, (1 mo. LIBOR + 4.00%), 4.50%, 10/15/28		112		110,348
Clark Equipment Co., 2021 Incremental Term Loan, (3 mo. LIBOR + 2.25%), 3.26%, 05/18/24(k)		150		149,413
Columbus McKinnon Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.81%, 05/14/28		74		73,625
Fluidra SA, 2022 USD Term Loan B, (SOFR + 2.00%), 2.50%, 01/29/29		22		21,742
Madison IAQ LLC, Term Loan, (6 mo. LIBOR + 3.25%), 4.52%, 06/21/28		677		668,251
SPX Flow, Inc., 4.54%, 03/16/29(k)		147		143,080
Titan Acquisition Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 4.01%, 03/28/25		615		656,683
				2,045,149
Media — 0.5%
A-L Parent LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/01/23		274		260,780
Altice Financing SA, USD 2017 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 2.99%, 01/31/26		252		242,737
Altice France SA, 2018 Term Loan B13, (3 mo. LIBOR + 4.00%), 4.51%, 08/14/26		413		405,070
AMC Entertainment Holdings, Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.00%), 3.35%, 04/22/26		107		94,940
Charter Communications Operating LLC, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 2.21%, 04/30/25		125		124,051
City Football Group Ltd., Term Loan, (6 mo. LIBOR + 3.50%), 4.00%, 07/21/28		226		221,198
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 3.80%, 08/21/26		741		839,542
CMG Media Corp., 2021 Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 12/17/26		125		122,638
Connect Finco SARL, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 12/12/26		673		666,886
CSC Holdings LLC, 2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 2.90%, 04/15/27		253		247,561
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 03/24/25		76		74,813
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. LIBOR + 1.75%), 2.25%, 10/19/26		303		296,101
MH Sub I LLC
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 09/13/24		729		719,271

Security	Par (000)		Value
Media (continued)
MH Sub I LLC (continued)
2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 6.71%, 02/23/29	$	248	$	245,210
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 09/28/23(c)		299		296,010
Virgin Media Bristol LLC, 2020 USD Term Loan Q, (1 mo. LIBOR + 3.25%), 3.65%, 01/31/29		300		297,939
Voyage Digital Ltd., 5.00%, 03/03/29(c)(k)		107		104,860
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 3.21%, 05/18/25		572		561,395
WMG Acquisition Corp., 2021 Term Loan G, (1 mo. LIBOR + 2.12%), 2.58%, 01/20/28		75		74,219
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 03/09/27		570		554,183
				6,449,404
Oil, Gas & Consumable Fuels — 0.2%
Ascent Resources - Utica, 2020 Fixed 2nd Lien Term Loan, (3 mo. LIBOR + 9.00%, 1.00% Floor), 10.00%, 11/01/25(c)		784		836,920
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 4.21%, 12/13/25		82		74,975
Lucid Energy Group II Borrower LLC, 2021 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 11/24/28		372		368,886
Medallion Midland Acquisition, LLC, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 10/18/28(k)		224		221,341
Oryx Midstream Services Permian Basin LLC, Term Loan B, (3 mo. LIBOR + 3.25%), 3.75%, 09/30/28(k)		373		370,598
				1,872,720
Personal Products — 0.1%
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 10/01/26		746		740,520
Pharmaceuticals — 0.1%
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 05/04/25		126		123,567
Bausch Health Americas Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 06/02/25(k)		108		123,854
Bausch Health Cos., Inc., 2022 Term Loan B, 5.75%, 01/27/27		302		298,602
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1 mo. LIBOR + 2.00%), 2.50%, 02/22/28(c)		125		124,687
Jazz Financing Lux SARL, USD Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 05/05/28		298		296,871
Organon & Co., USD Term Loan, (3 mo. LIBOR + 3.00%), 3.56%, 06/02/28		224		222,600
Precision Medicine Group LLC
2021 Delayed Draw Term Loan, 3.75%, 11/18/27		15		14,688
2021 Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 4.01%, 11/18/27		273		267,462
				1,472,331
Professional Services — 0.0%
Dun & Bradstreet Corp., Term Loan, (1 mo. LIBOR + 3.25%), 3.70%, 02/06/26		500		494,468

S C H E D U L E   O F   I N V E S T M E N T  S 20

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Real Estate Management & Development — 0.0%
Chamberlain Group, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 4.51%, 11/03/28	$	299	$	295,508
Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 3.21%, 08/21/25		100		98,249
				393,757
Road & Rail — 0.0%
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 5.50%), 5.80%, 08/04/25(k)		80		74,520
Semiconductors & Semiconductor Equipment — 0.0%
Synaptics, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 2.75%, 12/02/28(k)		112		111,405
Software — 0.6%
Applied Systems, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 5.50%, 09/19/24		41		39,950
Barracuda Networks, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.73%, 02/12/25		298		296,666
Cloudera, Inc.
2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%), 6.50%, 10/08/29(c)		199		195,518
2021 Term Loan, (1 mo. LIBOR + 3.75%), 4.25%, 10/08/28		247		243,604
Cornerstone OnDemand, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%), 4.25%, 10/15/28		187		184,896
Digicel International Finance Ltd., 2017 Term Loan B, (6 mo. LIBOR + 3.25%), 3.50%, 05/27/24		271		257,450
Epicor Software Corp., 2020 Term Loan, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 07/31/27		299		296,514
Helios Software Holdings, Inc., 2021 USD Term Loan B, (6 mo. LIBOR + 3.75%), 5.25%, 03/11/28		100		98,938
Informatica LLC, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 3.25%, 10/29/28		492		486,342
Instructure Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.27%, 10/29/28(c)		100		99,500
Magenta Buyer LLC
2021 USD 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 5.75%, 07/27/28		551		545,903
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 0.75% Floor), 9.00%, 07/27/29		202		199,728
McAfee LLC, 2022 USD Term Loan B, (3 mo. LIBOR + 4.00%), 4.50%, 03/01/29		376		372,710
Netsmart Technologies, Inc., 2020 Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/01/27		187		185,949
Planview Parent, Inc., Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.01%, 12/17/27		112		109,900
Proofpoint, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.25%), 3.76%, 08/31/28		451		446,662
RealPage, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.75%, 04/22/28		862		850,680
Restoration Hardware, Inc., Term Loan B, (1 mo. LIBOR + 2.50%), 3.00%, 10/20/28		188		183,812
Severin Acquisition LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.45%, 08/01/25		151		149,058
Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 4.26%, 10/07/27(k)		399		395,584
Tempo Acquisition LLC, 2022 Term Loan B, (SOFR + 3.00%), 3.50%, 08/31/28(k)		622		619,164

Security	Par (000)		Value
Software (continued)
Tibco Software Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.71%, 03/04/28	$	335	$	333,814
Ultimate Software Group, Inc.
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%), 5.75%, 05/03/27		299		296,243
2021 Term Loan, (3 mo. LIBOR + 3.25%), 3.75%, 05/04/26		827		821,464
				7,710,049
Specialty Retail — 0.2%
Belron Finance U.S. LLC, 2018 Term Loan B, (3 mo. LIBOR + 2.25%), 2.69%, 11/13/25		375		371,592
EG Group Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.25%), 5.25%, 03/31/26		449		441,704
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 11/24/28(k)		75		74,250
Mavis Tire Express Services Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 05/04/28		274		272,899
MED ParentCo LP, 1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 4.71%, 08/31/26		150		147,792
Medical Solutions LLC, 2021 First Lien Term Loan, (3 mo. LIBOR + 3.50%), 4.51%, 11/01/28		308		305,207
PetSmart, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28		559		556,170
Pilot Travel Centers LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 08/04/28		100		98,479
				2,268,093
Technology Hardware, Storage & Peripherals — 0.0%
Electronics for Imaging, Inc., Term Loan, (1 mo. LIBOR + 5.00%), 5.46%, 07/23/26		67		65,767
Textiles, Apparel & Luxury Goods — 0.0%
Crocs, Inc., Term Loan B, (SOFR + 3.50%), 3.50%, 02/17/29		188		183,099
Trading Companies & Distributors — 0.0%
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 05/19/28		187		184,514
Foundation Building Materials Holding Co. LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%), 3.75%, 01/31/28		114		111,581
ION Trading Finance Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%), 5.76%, 04/01/28		75		74,126
SRS Distribution, Inc., 2022 Incremental Term Loan, (SOFR + 3.50%), 4.00%, 06/04/28		68		67,116
				437,337
Wireless Telecommunication Services — 0.0%
GOGO Intermediate Holdings LLC, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 04/30/28		75		74,344

21

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Wireless Telecommunication Services (continued)
MetroNet Systems Holdings LLC, 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 06/02/28	$	112	$	110,635
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 04/11/25		188		185,971
				370,950
Total Floating Rate Loan Interests — 5.8% (Cost: $74,867,504)				73,946,058
Foreign Agency Obligations
Brazil — 0.4%
Brazilian Government International Bond, 5.00%, 01/27/45		6,525		5,788,083
Colombia — 0.3%
Colombia Government International Bond, 5.63%, 02/26/44		4,000		3,605,750
Indonesia — 0.4%
Indonesia Government International Bond, 5.88%, 01/15/24(b)		4,400		4,657,950
Mexico — 0.4%
Mexico Government International Bond, 4.75%, 03/08/44(d)		5,800		5,727,500
Pakistan — 0.1%
Pakistan Government International Bond(f) 6.00%, 04/08/26		450		351,050
7.38%, 04/08/31		200		147,022
Pakistan Water & Power Development Authority, 7.50%, 06/04/31(f)		500		323,805
				821,877
Uruguay — 0.3%
Uruguay Government International Bond, 5.10%, 06/18/50		3,500		4,142,687
Total Foreign Agency Obligations — 1.9% (Cost: $24,794,618)				24,743,847
Municipal Bonds
New York — 0.9%
Metropolitan Transportation Authority, RB, BAB, 6.55%, 11/15/31		10,000		11,639,590
Total Municipal Bonds — 0.9% (Cost: $9,833,900)				11,639,590
Preferred Securities
Capital Trusts — 13.3%
Automobiles — 0.2%
General Motors Financial Co., Inc., Series C, 5.70%(a)(g)		2,565		2,687,350
Banks(a)(g) — 4.3%
HSBC Capital Funding Dollar 1 LP, 10.18%(b)(d)		11,835		18,107,550
Huntington Bancshares, Inc., Series F, 5.63%		6,450		6,717,675
Industrial & Commercial Bank of China Ltd., 3.20%(f)		300		292,875
ING Groep NV, 3.88%		3,326		2,893,620
Kasikornbank PCL, 5.28%(f)		268		260,680
Macquarie Bank Ltd., 6.13%(b)		1,885		1,878,402

Security	Par (000)		Value
Banks (continued)
Nanyang Commercial Bank Ltd., 5.00%(f)	$	700	$	699,563
Nordea Bank Abp, 6.13%(b)		5,540		5,740,049
Rizal Commercial Banking Corp., 6.50%(f)		700		665,350
SVB Financial Group, Series E, 4.70%		4,556		4,066,230
TMBThanachart Bank PCL, 4.90%(f)		700		670,819
U.S. Bancorp, Series J, 5.30%(d)		10,415		10,270,023
Wells Fargo & Co.
Series S, 5.90%		281		283,108
Series U, 5.88%		2,655		2,773,944
				55,319,888
Capital Markets — 0.0%
State Street Corp., Series F, 4.42%(a)(g)		618		617,823
Diversified Financial Services — 6.0%
Bank of America Corp.(a)(d)(g)
Series AA, 6.10%		8,630		9,001,565
Series U, 5.20%		5,785		5,828,387
Barclays PLC(a)(g) 4.38%		1,630		1,435,623
8.00%		4,500		4,754,250
BNP Paribas SA, 7.38%(a)(b)(g)		4,535		4,886,462
Citigroup, Inc., 5.90%(a)(g)		2,210		2,243,747
Credit Agricole SA, 8.13%(a)(b)(g)		5,000		5,559,600
Credit Suisse Group AG, 7.50%(a)(b)(g)		1,865		1,893,441
HSBC Holdings PLC, 6.50%(a)(g)		2,615		2,660,762
JPMorgan Chase & Co. 8.75%, 09/01/30		2,000		2,688,383
Series R, 6.00%(a)(d)(g)		7,408		7,500,600
Series S, 6.75%(a)(d)(g)		9,775		10,200,799
Lloyds Banking Group PLC, 7.50%(a)(g)		8,285		8,806,250
Natwest Group PLC, 8.00%(a)(g)		970		1,053,711
UBS Group AG, 7.00%(a)(b)(g)		7,500		7,824,825
				76,338,405
Electric Utilities — 0.6%
PPL Capital Funding, Inc., Series A, 3.66%, 03/30/67(a)		8,300		7,283,250
Independent Power and Renewable Electricity Producers — 0.0%
Vistra Corp., 7.00%(a)(b)(g)		481		468,374
Insurance — 1.6%
ACE Capital Trust II, 9.70%, 04/01/30(d)		7,000		9,625,000
Equitable of Iowa Cos. Capital Trust II, Series B, 8.42%, 04/01/27		5,000		4,941,275
MetLife, Inc., 6.40%, 12/15/36		5,000		5,384,000
				19,950,275
Oil, Gas & Consumable Fuels — 0.2%
Enterprise Products Operating LLC, 3.30%, 06/01/67(a)		2,500		2,125,000
Real Estate Management & Development — 0.0%
NWD Finance BVI Ltd., 4.13%(a)(f)(g)		409		372,190
Wireless Telecommunication Services — 0.4%
Vodafone Group PLC, 7.00%, 04/04/79(a)		4,745		5,239,524
				170,402,079

S C H E D U L E  O F   I N V E S T M E N T  S 22

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets)

Security	Shares		Value
Preferred Stocks — 3.3%
Banks(a)(g) — 2.1%
Citigroup, Inc., Series K, 6.88%		488,320	$	12,867,232
Wells Fargo and Co., Series Q, 5.85%		550,500		13,927,650
				26,794,882
Capital Markets(a)(g) — 0.8%
Goldman Sachs Group, Inc., Series J, 5.50%		162,450		4,137,602
State Street Corp., Series D, 5.90%		220,495		5,666,721
				9,804,323
Interactive Media & Services — 0.4%
ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost: $3,526,645)(c)(j)(m)		32,185		5,185,247
				41,784,452
Total Preferred Securities — 16.6% (Cost: $205,224,420)				212,186,531
Total Long-Term Investments — 140.8% (Cost: $1,765,401,431)				1,802,040,473
Options Purchased — 0.1% (Cost: $3,144,678)				1,757,866
Total Investments Before Options Written — 140.9% (Cost: $1,768,546,109)				1,803,798,339
Options Written — (0.0)% (Premiums Received: $(511,813))				(240,657	)
Total Investments, Net of Options Written — 140.9% (Cost: $1,768,034,296)				1,803,557,682
Liabilities in Excess of Other Assets — (40.9)%				(523,656,279	)
Net Assets — 100.0%			$	1,279,901,403

^(a)  Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

^(b)  Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

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

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

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

^(f)  This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

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

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

^(j)  Non-income producing security.

^(k)  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.

^(l)  Zero-coupon bond.

^(m)  Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $5,185,247, representing 0.4% of its net assets as of period end, and an original cost of $3,526,645.

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)	$	22,030,719	$	—	$	(22,030,719	)(b)	$	—	$	—	$	—		—	$	767	$	—

^(a)  As of period end, the entity is no longer held.

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

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)

RBC Capital Markets LLC

(0.35

)%(b)

12/20/21

Open

$

255,190

$

254,760

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

12/21/21

Open

14,668,500

14,680,724

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.53

(b)

02/11/22

Open

5,362,500

5,364,419

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.53

(b)

02/11/22

Open

3,685,775

3,687,094

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.55

(b)

02/11/22

Open

484,800

484,986

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.55

(b)

02/11/22

Open

3,908,469

3,909,967

Corporate Bonds

Open/Demand

23

Schedule of Investments (unaudited) (continued) March 31, 2022 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)

BNP Paribas S.A.

0.70

%(b)

02/14/22

Open

$

9,371,250

$

9,376,521

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.55

(b)

02/25/22

Open

8,349,525

8,351,752

Capital Trusts

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/01/22

Open

6,573,125

6,574,494

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/01/22

Open

7,339,625

7,341,154

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/01/22

Open

7,214,062

7,215,565

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/01/22

Open

6,648,175

6,649,560

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/01/22

Open

2,700,000

2,700,562

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/01/22

Open

6,231,500

6,232,798

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/01/22

Open

19,435,140

19,439,189

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.63

(b)

03/01/22

Open

8,854,675

8,857,479

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.63

(b)

03/01/22

Open

3,678,300

3,679,465

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.63

(b)

03/01/22

Open

4,462,500

4,463,913

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.55

(b)

03/02/22

Open

3,287,550

3,288,344

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.55

(b)

03/02/22

Open

8,737,500

8,739,612

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/02/22

Open

10,730,000

10,732,504

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/02/22

Open

4,757,445

4,758,555

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/02/22

Open

11,855,594

11,858,360

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.37

(b)

03/03/22

Open

4,324,725

4,325,129

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/03/22

Open

2,332,081

2,332,625

Corporate Bonds

Open/Demand

Citigroup Global Markets, Inc.

(1.00

)(b)

03/03/22

Open

486,868

486,489

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/03/22

Open

2,701,450

2,701,975

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

13,487,500

13,490,437

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

2,610,000

2,610,568

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

4,325,000

4,325,942

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

724,640

724,798

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

7,162,500

7,164,060

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

8,313,900

8,315,711

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

5,815,000

5,816,266

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

14,850,000

14,853,234

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

8,714,875

8,716,773

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

6,697,500

6,698,959

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

14,715,000

14,718,205

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

7,770,000

7,771,692

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

9,076,781

9,078,758

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/03/22

Open

5,596,719

5,597,938

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/03/22

Open

2,673,000

2,673,832

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.40

(b)

03/08/22

Open

156,620

156,635

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.40

(b)

03/08/22

Open

544,078

544,130

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.40

(b)

03/08/22

Open

419,795

419,835

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.40

(b)

03/08/22

Open

1,509,638

1,509,782

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.40

(b)

03/08/22

Open

1,018,175

1,018,273

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.70

(b)

03/08/22

Open

1,331,374

1,331,757

Corporate Bonds

Open/Demand

BNP Paribas S.A.

0.70

(b)

03/08/22

Open

4,445,000

4,446,278

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.30

(b)

03/09/22

Open

4,561,340

4,562,215

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.50

(b)

03/09/22

Open

1,539,982

1,540,453

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

9,087,087

9,088,753

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

4,675,000

4,675,857

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

882,500

882,662

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

6,407,920

6,409,095

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

5,121,619

5,122,558

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

5,417,212

5,418,206

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

4,707,062

4,707,925

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

4,787,500

4,788,378

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

6,056,094

6,057,254

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

4,954,677

4,955,585

Foreign Agency Obligations

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

4,464,900

4,465,719

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

1,636,800

1,637,100

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

4,823,244

4,824,128

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

3,775,000

3,775,692

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

3,869,302

3,870,012

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

4,924,219

4,925,122

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.55

(b)

03/09/22

Open

8,773,062

8,774,671

Capital Trusts

Open/Demand

S C H E D U L E  O F   I N V E S T M E N T  S 24

Schedule of Investments (unaudited) (continued) March 31, 2022 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.

0.55

%(b)

03/09/22

Open

$

4,318,750

$

4,319,542

Corporate Bonds

Open/Demand

Barclays Capital, Inc.

0.75

(b)

03/09/22

Open

15,533,437

15,538,184

Capital Trusts

Open/Demand

Barclays Capital, Inc.

0.75

(b)

03/09/22

Open

5,337,500

5,339,131

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/09/22

Open

4,445,756

4,446,435

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/09/22

Open

17,473,531

17,476,201

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/09/22

Open

3,186,562

3,187,133

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/09/22

Open

2,370,000

2,370,424

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/09/22

Open

8,228,700

8,230,711

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/09/22

Open

3,014,482

3,015,219

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/09/22

Open

8,973,020

8,975,213

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/09/22

Open

2,774,744

2,775,422

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/09/22

Open

8,555,400

8,557,491

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/09/22

Open

2,763,265

2,763,940

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

(3.00

)(b)

03/17/22

Open

1,007,224

1,006,049

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

(0.25

)(b)

03/17/22

Open

489,819

489,771

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.50

(b)

03/17/22

Open

2,910,188

2,910,753

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.50

(b)

03/17/22

Open

3,688,125

3,688,842

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.55

(b)

03/17/22

Open

7,557,840

7,559,457

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.70

(b)

03/17/22

Open

1,373,680

1,374,054

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.70

(b)

03/17/22

Open

2,803,315

2,804,078

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.70

(b)

03/17/22

Open

3,489,421

3,490,371

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.70

(b)

03/17/22

Open

3,550,000

3,550,966

Corporate Bonds

Open/Demand

J.P. Morgan Securities LLC

0.53

(b)

03/17/22

Open

3,013,250

3,013,871

Corporate Bonds

Open/Demand

J.P. Morgan Securities LLC

0.55

(b)

03/17/22

Open

3,273,750

3,274,450

Corporate Bonds

Open/Demand

TD Securities (USA) LLC

0.50

(b)

03/17/22

Open

11,079,700

11,081,854

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/22/22

Open

2,106,000

2,106,342

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.50

(b)

03/24/22

Open

2,760,193

2,760,499

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/24/22

Open

13,167,000

13,168,463

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.50

(b)

03/24/22

Open

3,248,175

3,248,536

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

(3.00

)(b)

03/30/22

Open

113,950

113,940

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/30/22

Open

3,155,760

3,155,817

Corporate Bonds

Open/Demand

$

536,620,476

$

536,746,402

^(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
Ultra U.S. Treasury Bond		94		06/21/22	$	16,638	$	(671,383	)
3-Month SOFR		2,018		03/14/23		492,291		(6,624,156	)
								(7,295,539	)
Short Contracts
10-Year U.S. Treasury Note		1,433		06/21/22		175,901		5,268,734
10-Year U.S. Ultra Long Treasury Note		78		06/21/22		10,564		397,268
U.S. Long Bond		99		06/21/22		14,865		441,835
5-Year U.S. Treasury Note		1,114		06/30/22		127,614		3,504,109
								9,611,946
							$	2,316,407

25

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ)

Exchange-Traded Options Purchased

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call
iShares China Large-Cap ETF		3,008		04/14/22	USD	40.00	USD	9,617	$	6,016
SPDR S&P Oil & Gas Exploration & Production ETF		3,357		04/14/22	USD	135.00	USD	45,168		1,460,295
Xtrackers Harvest CSI 300 China A-Shares Fund		8,662		04/14/22	USD	40.00	USD	28,663		34,648
iShares China Large-Cap ETF		8,662		05/20/22	USD	40.00	USD	27,692		56,303
										1,557,262
Put
SPDR S&P 500 ETF Trust		916		04/14/22	USD	440.00	USD	41,370		200,604
									$	1,757,866

Exchange-Traded Options Written

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call
SPDR S&P Oil & Gas Exploration & Production ETF		3,357		04/14/22	USD	150.00	USD	45,168	$	(198,063	)
Put
SPDR S&P 500 ETF Trust		916		04/14/22	USD	415.00	USD	41,370		(42,594	)
									$	(240,657	)

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.38.V1

5.00

%

Quarterly

06/20/27

B+

USD    62,400

$

3,533,286

$

2,910,895

$

622,391

^(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.

S C H E D U L E  O F   I N V E S T M E N T  S 26

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Credit Allocation Income Trust (BTZ)

Fair Value Hierarchy as of Period End (continued)

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
Asset-Backed Securities	$	—		$	71,261,660		$	1,059,109	$	72,320,769
Corporate Bonds		—			1,405,881,863			1,321,815		1,407,203,678
Floating Rate Loan Interests		—			70,061,319			3,884,739		73,946,058
Foreign Agency Obligations		—			24,743,847			—		24,743,847
Municipal Bonds		—			11,639,590			—		11,639,590
Preferred Securities
Capital Trusts		—			170,402,079			—		170,402,079
Preferred Stocks		36,599,205			—			5,185,247		41,784,452
Options Purchased
Equity Contracts		1,757,866			—			—		1,757,866
Liabilities
Unfunded Floating Rate Loan Interests(a)		—			(1,411	)		—		(1,411	)
	$	38,357,071		$	1,753,988,947		$	11,450,910	$	1,803,796,928
Derivative Financial Instruments(b)
Assets
Credit Contracts	$	—		$	622,391		$	—	$	622,391
Interest Rate Contracts		9,611,946			—			—		9,611,946
Liabilities
Equity Contracts		(240,657	)		—			—		(240,657	)
Interest Rate Contracts		(7,295,539	)		—			—		(7,295,539	)
	$	2,075,750		$	622,391		$	—	$	2,698,141

^(a)  Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.

^(b)  Derivative financial instruments are swaps, futures contracts and options written. Swaps and futures contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value.

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 reporting purposes. As of period end, reverse repurchase agreements of $536,746,402 are categorized as Level 2 within the fair value hierarchy.

Currency Abbreviation
USD	United States Dollar
Portfolio Abbreviation
BAB	Build America Bond
CDI	CREST Depository Interest
CLO	Collateralized Loan Obligation
CMT	Constant Maturity Treasury
DAC	Designated Activity Company
DIP	Debtor-In-Possession
ETF	Exchange-Traded Fund
LIBOR	London Interbank Offered Rate
PCL	Public Company Limited
PIK	Payment-in-Kind
RB	Revenue Bond
REIT	Real Estate Investment Trust
S&P	Standard & Poor’s

Portfolio Abbreviation (continued)
SOFR	Secured Overnight Financing Rate
SPDR	Standard & Poor’s Depository Receipt

27