Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks — 0.0% |
| |||||||
United States — 0.0% |
| |||||||
Bristow Group, Inc.(a)(b) | 2,526 | $ | 23,643 | |||||
|
| |||||||
Total Common Stocks — 0.0% | 23,643 | |||||||
|
| |||||||
Par (000) | ||||||||
Asset-Backed Securities — 16.9% | ||||||||
Ajax Mortgage Loan Trust, | USD | 168 | 142,773 | |||||
ALM VII Ltd., | 500 | 374,901 | ||||||
Anchorage Capital CLO Ltd., | 1,000 | 700,407 | ||||||
Apidos CLO XVIII, | 1,000 | 556,766 | ||||||
Apidos CLO XXI, | 500 | 262,681 | ||||||
Ares XXXVII CLO Ltd., | 250 | 155,864 | ||||||
Benefit Street Partners CLO II Ltd., | 1,500 | 1,145,964 | ||||||
CarVal CLO II Ltd., | ||||||||
Class D, (3 mo. LIBOR US + 4.15%), | 250 | 185,697 | ||||||
Class E, (3 mo. LIBOR US + 6.75%), | 250 | 149,947 | ||||||
CarVal CLO III Ltd., | 300 | 165,300 | ||||||
Cedar Funding II CLO Ltd., | 950 | 753,944 | ||||||
Cedar Funding VI CLO Ltd., | ||||||||
Class DR, (3 mo. LIBOR US + 3.00%), | 1,000 | 749,413 | ||||||
Class ER, (3 mo. LIBOR US + 5.90%), | 250 | 158,371 | ||||||
Conseco Finance Corp., | 1,147 | 979,948 |
Security | Par (000) | Value | ||||||
Asset-Backed Securities (continued) | ||||||||
Conseco Finance Securitizations Corp., | USD | 2,500 | $ | 2,375,634 | ||||
Credit-Based Asset Servicing & Securitization LLC, | 1,000 | 942,456 | ||||||
CWABS Asset-Backed Certificates Trust, | 792 | 647,358 | ||||||
Deutsche Financial Capital Securitization LLC, | 795 | 802,542 | ||||||
Elmwood CLO III Ltd., | 550 | 350,568 | ||||||
First Franklin Mortgage Loan Trust, | 613 | 320,706 | ||||||
Galaxy CLO XXIX Ltd., | 750 | 544,612 | ||||||
GoldenTree Loan Opportunities IX Ltd., | 500 | 327,017 | ||||||
Lehman ABS Manufactured Housing Contract Trust, | 1,898 | 1,555,767 | ||||||
Long Beach Mortgage Loan Trust(d): | ||||||||
Series2006-5, Class 2A3, | 1,043 | 510,323 | ||||||
Series2006-7, Class 2A3, | 1,654 | 744,739 | ||||||
Series2006-7, Class 2A4, | 1,654 | 761,779 | ||||||
Series2006-9, Class 2A3, | 1,487 | 543,718 | ||||||
Madison Park Funding X Ltd., | 550 | 424,041 | ||||||
Madison Park Funding XVI Ltd., | 1,000 | 804,571 | ||||||
Madison Park Funding XXX Ltd., | 250 | 154,929 |
SCHEDULES OF INVESTMENTS | 1 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Asset-Backed Securities (continued) | ||||||||
Mariner CLO LLC, Series2018-1A, | USD | 250 | $ | 145,324 | ||||
Merrill Lynch Mortgage Investors Trust, | 1,557 | 557,226 | ||||||
Nationstar HECM Loan Trust, | 750 | 714,353 | ||||||
Neuberger Berman CLO XV, | 1,000 | 721,871 | ||||||
OCP CLO Ltd., Series2016-12A, | 250 | 188,254 | ||||||
OHA Credit Partners IX Ltd., | 1,000 | 805,092 | ||||||
OZLM Funding Ltd., | 250 | 194,090 | ||||||
OZLM XIV Ltd., Series2015-14A, | 1,000 | 746,914 | ||||||
Palmer Square Loan Funding Ltd.(c): | ||||||||
Series2018-4A, Class C, | 1,800 | 1,449,361 | ||||||
Series2019-2A, Class C, | 1,100 | 886,157 | ||||||
Park Avenue Institutional Advisers CLO Ltd., | 500 | 268,651 | ||||||
Regatta VI Funding Ltd., | 500 | 374,524 | ||||||
Rockford Tower CLO Ltd.(c): | ||||||||
Series2017-1A, Class DR, | 1,000 | 731,546 | ||||||
Series2017-3A, Class D, | 420 | 290,031 | ||||||
Series2017-3A, Class SUB, | 250 | 114,655 | ||||||
Series2018-1A, Class SUB, | 250 | 124,206 | ||||||
Series2018-2A, Class SUB, | 250 | 117,977 |
Security | Par (000) | Value | ||||||
Asset-Backed Securities (continued) | ||||||||
TICP CLO VI Ltd., | USD | 250 | $ | 134,258 | ||||
TICP CLO XII Ltd., | 1,000 | 633,410 | ||||||
TRESTLES CLO II Ltd., | 250 | 139,167 | ||||||
West CLO Ltd., | 1,000 | 808,696 | ||||||
Westcott Park CLO Ltd., | 250 | 192,608 | ||||||
|
| |||||||
Total Asset-Backed Securities — 16.9% |
| 28,631,107 | ||||||
|
| |||||||
Corporate Bonds — 60.8% |
| |||||||
Argentina — 0.6% |
| |||||||
Generacion Mediterranea SA/Generacion | 1,078 | 452,760 | ||||||
Stoneway Capital Corp., | 910 | 129,899 | ||||||
Telecom Argentina SA, | 429 | 327,649 | ||||||
YPF SA, 8.50%, 07/28/25 | 240 | 123,337 | ||||||
|
| |||||||
1,033,645 | ||||||||
Australia — 0.2% | ||||||||
FMG Resources August 2006 Pty, Ltd.(c): | ||||||||
4.75%, 05/15/22 | 19 | 18,929 | ||||||
5.13%, 03/15/23 | 12 | 11,760 | ||||||
5.13%, 05/15/24 | 19 | 18,715 | ||||||
4.50%, 09/15/27 | 15 | 13,350 | ||||||
Santos Finance Ltd., | 200 | 205,376 | ||||||
|
| |||||||
268,130 | ||||||||
Brazil — 3.0% | ||||||||
Centrais Eletricas Brasileiras SA, | 706 | 628,340 | ||||||
Gol Finance SA, | 1,000 | 425,000 | ||||||
MARB BondCo PLC, | 693 | 620,018 | ||||||
Minerva Luxembourg SA, | 557 | 511,048 | ||||||
Oi SA, (8.00% Cash or 4.00% PIK), | 615 | 419,738 |
2 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Brazil (continued) | ||||||||
Petrobras Global Finance BV: | ||||||||
5.30%, 01/27/25(h) | USD | 630 | $ | 599,681 | ||||
8.75%, 05/23/26(h) | 659 | 711,390 | ||||||
6.00%, 01/27/28(h) | 706 | 683,761 | ||||||
7.25%, 03/17/44 | 460 | 461,446 | ||||||
|
| |||||||
5,060,422 | ||||||||
Canada — 1.4% | ||||||||
1011778 BC ULC/New Red Finance, Inc., | 19 | 18,050 | ||||||
Brookfield Residential Properties, Inc. | 327 | 283,640 | ||||||
Hammerhead Resources, Inc., | 1,500 | 810,000 | ||||||
Mattamy Group Corp., | 12 | 11,160 | ||||||
NOVA Chemicals Corp., | 1,495 | 1,259,537 | ||||||
Seven Generations Energy Ltd., | 17 | 9,478 | ||||||
|
| |||||||
2,391,865 | ||||||||
Chile — 0.2% | ||||||||
Latam Finance Ltd., | 645 | 286,735 | ||||||
|
| |||||||
China — 5.4% | ||||||||
21Vianet Group, Inc., | 200 | 168,008 | ||||||
Anton Oilfield Services Group, | 200 | 180,062 | ||||||
Central China Real Estate Ltd., | 200 | 172,040 | ||||||
CFLD Cayman Investment Ltd.: | ||||||||
8.63%, 02/28/21 | 200 | 193,000 | ||||||
8.60%, 04/08/24 | 200 | 161,375 | ||||||
China Aoyuan Group Ltd.: | ||||||||
7.50%, 05/10/21 | 200 | 194,528 | ||||||
8.50%, 01/23/22 | 200 | 191,916 | ||||||
7.95%, 02/19/23 | 400 | 366,784 | ||||||
China Evergrande Group, | HKD | 4,000 | 410,007 | |||||
China SCE Group Holdings Ltd.: | ||||||||
7.45%, 04/17/21 | USD | 300 | 291,327 | |||||
7.25%, 04/19/23 | 200 | 172,000 | ||||||
China Singyes Solar Technologies | 286 | 228,569 | ||||||
CIFI Holdings Group Co. Ltd., | 400 | 373,972 | ||||||
Country Garden Holdings Co. Ltd., | 200 | 192,000 |
Security | Par (000) | Value | ||||||
China (continued) | ||||||||
Easy Tactic Ltd.: | ||||||||
9.13%, 07/28/22 | USD | 200 | $ | 181,748 | ||||
8.63%, 02/27/24 | 200 | 168,500 | ||||||
8.13%, 07/11/24 | 200 | 163,625 | ||||||
Excel Capital Global Ltd. | 200 | 202,912 | ||||||
Fantasia Holdings Group Co. Ltd.: | ||||||||
8.38%, 03/08/21 | 200 | 181,000 | ||||||
11.75%, 04/17/22 | 200 | 172,100 | ||||||
Greenland Global Investment Ltd. | 200 | 191,000 | ||||||
Guangxi Financial Investment Group Co. Ltd., | 200 | 172,170 | ||||||
Hilong Holding Ltd., | 200 | 130,000 | ||||||
Jingrui Holdings Ltd., | 200 | 186,000 | ||||||
Kaisa Group Holdings Ltd., | 200 | 172,375 | ||||||
KWG Group Holdings Ltd., | 200 | 186,272 | ||||||
Logan Property Holdings Co. Ltd., | 200 | 187,125 | ||||||
Powerlong Real Estate Holdings Ltd.: | ||||||||
5.95%, 07/19/20 | 200 | 196,026 | ||||||
6.95%, 04/17/21 | 300 | 280,578 | ||||||
7.13%, 11/08/22 | 200 | 179,654 | ||||||
Prime Bloom Holdings Ltd., | 200 | 92,954 | ||||||
Ronshine China Holdings Ltd.: | ||||||||
8.75%, 10/25/22 | 200 | 188,000 | ||||||
8.95%, 01/22/23 | 200 | 184,950 | ||||||
Scenery Journey Ltd.: | ||||||||
11.00%, 11/06/20 | 200 | 190,625 | ||||||
11.50%, 10/24/22 | 435 | 324,584 | ||||||
Seazen Group Ltd., | 200 | 194,750 | ||||||
Sunac China Holdings Ltd.: | ||||||||
7.25%, 06/14/22 | 200 | 187,887 | ||||||
7.50%, 02/01/24 | 200 | 179,850 | ||||||
Times China Holdings Ltd., | 200 | 192,130 | ||||||
Wanda Group Overseas Ltd., | 200 | 176,150 | ||||||
Yankuang Group Cayman Ltd., | 200 | 194,026 | ||||||
Yanlord Land HK Co. Ltd., | 200 | 174,200 | ||||||
Zhejiang Baron BVI Co. Ltd., | 200 | 200,000 | ||||||
Zhenro Properties Group Ltd.: | ||||||||
9.15%, 03/08/22 | 200 | 183,750 |
SCHEDULES OF INVESTMENTS | 3 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
China (continued) | ||||||||
8.70%, 08/03/22 | 200 | $ | 161,334 | |||||
|
| |||||||
9,071,863 | ||||||||
Colombia — 0.7% | ||||||||
Empresas Publicas de Medellin ESP, | 505 | 424,042 | ||||||
Geopark Ltd., | USD | 1,000 | 567,500 | |||||
Gilex Holding Sarl, | 214 | 182,007 | ||||||
|
| |||||||
1,173,549 | ||||||||
Dominican Republic — 0.4% | ||||||||
Aeropuertos Dominicanos Siglo XXI SA, | 928 | 612,480 | ||||||
|
| |||||||
France — 2.0% | ||||||||
Altice France SA: | ||||||||
2.50%, 01/15/25 | EUR | 200 | 205,139 | |||||
2.13%, 02/15/25 | 100 | 100,613 | ||||||
AXA SA | GBP | 350 | 451,865 | |||||
Banijay Entertainment SASU, | EUR | 100 | 99,181 | |||||
BNP Paribas SA | USD | 800 | 874,869 | |||||
BPCE SA, 5.15%, 07/21/24(c)(h) | 600 | 632,530 | ||||||
Credit Agricole SA | 750 | 754,978 | ||||||
Credit Mutuel Arkea SA, | EUR | 200 | 208,130 | |||||
Picard Groupe SAS | 100 | 102,849 | ||||||
|
| |||||||
3,430,154 | ||||||||
Germany — 1.8% | ||||||||
ADLER Real Estate AG, | 100 | 95,612 | ||||||
E.ON SE, | 150 | 160,005 | ||||||
IHO Verwaltungs GmbH, | 100 | 87,385 | ||||||
Merck KGaA, | 600 | 631,183 | ||||||
Nidda Healthcare Holding GmbH, | 200 | 203,485 | ||||||
Summit Properties Ltd., | 100 | 92,573 | ||||||
thyssenkrupp AG: | ||||||||
1.88%, 03/06/23 | 185 | 178,532 | ||||||
2.88%, 02/22/24 | 364 | 353,281 | ||||||
ZF Europe Finance BV: | ||||||||
2.00%, 02/23/26 | 700 | 615,809 |
Security | Par (000) | Value | ||||||
Germany (continued) | ||||||||
2.50%, 10/23/27 | 700 | $ | 578,936 | |||||
|
| |||||||
2,996,801 | ||||||||
Guatemala — 0.6% | ||||||||
Central American Bottling Corp., | USD | 626 | 534,303 | |||||
Energuate Trust, | USD | 503 | 482,503 | |||||
|
| |||||||
1,016,806 | ||||||||
Hong Kong — 0.2% | ||||||||
New Lion Bridge Co. Ltd., | 200 | 179,000 | ||||||
Pearl Holding III Ltd., | 200 | 135,738 | ||||||
|
| |||||||
314,738 | ||||||||
India — 0.6% | ||||||||
Future Retail Ltd., | 200 | 100,250 | ||||||
Jubilant Pharma Ltd., | 200 | 190,000 | ||||||
Muthoot Finance Ltd., | 200 | 170,375 | ||||||
ReNew Power Ltd., | 200 | 166,851 | ||||||
ReNew Power Synthetic, | 200 | 159,062 | ||||||
Vedanta Resources Ltd., | 500 | 189,219 | ||||||
|
| |||||||
975,757 | ||||||||
Indonesia — 0.3% | ||||||||
Alam Synergy Pte Ltd., | 200 | 158,937 | ||||||
JGC Ventures Pte Ltd., | 200 | 170,630 | ||||||
Perusahaan Listrik Negara PT, | 200 | 190,007 | ||||||
|
| |||||||
519,574 | ||||||||
Ireland — 1.3% | ||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.: | ||||||||
6.00%, 02/15/25(c)(h) | 1,000 | 1,002,800 | ||||||
2.13%, 08/15/26 | EUR | 100 | 98,324 | |||||
4.75%, 07/15/27 | GBP | 140 | 158,678 | |||||
Bank of Ireland Group PLC | USD | 500 | 471,070 | |||||
Virgin Media Receivables Financing Notes II DAC, | GBP | 110 | 131,767 | |||||
Zurich Finance Ireland Designated Activity Co., | EUR | 280 | 276,862 | |||||
|
| |||||||
2,139,501 | ||||||||
Italy — 1.8% | ||||||||
Assicurazioni Generali SpA | 500 | 587,244 |
4 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Italy (continued) | ||||||||
Autostrade per l’Italia SpA, | 100 | $ | 111,393 | |||||
Buzzi Unicem SpA, | 100 | 109,584 | ||||||
International Game Technology PLC, | 100 | 88,232 | ||||||
Rossini Sarl, | 200 | 220,561 | ||||||
Sisal Group SpA, | 69 | 61,837 | ||||||
Telecom Italia Capital SA, | USD | 385 | 390,775 | |||||
Telecom Italia SpA: | ||||||||
1.13%, 03/26/22(l) | EUR | 100 | 103,965 | |||||
4.00%, 04/11/24 | 100 | 109,722 | ||||||
UniCredit SpA: | ||||||||
6.57%, 01/14/22(c)(h) | USD | 700 | 713,137 | |||||
(5 year EUR Swap + 2.40%), | EUR | 600 | 542,817 | |||||
|
| |||||||
3,039,267 | ||||||||
Japan — 0.2% | ||||||||
SoftBank Group Corp.: | ||||||||
4.00%, 04/20/23 | 200 | 202,117 | ||||||
4.75%, 07/30/25 | 100 | 100,517 | ||||||
|
| |||||||
302,634 | ||||||||
Jersey — 0.1% | ||||||||
LHC3 PLC, (4.13% Cash or 4.88% PIK), | 240 | 220,032 | ||||||
|
| |||||||
Lithuania — 0.1% | ||||||||
ASG Finance Designated Activity Co., | USD | 429 | 158,408 | |||||
|
| |||||||
Luxembourg — 0.7% | ||||||||
Altice Financing SA, | EUR | 100 | 97,728 | |||||
ContourGlobal Power Holdings SA: | ||||||||
3.38%, 08/01/23 | 100 | 95,673 | ||||||
4.13%, 08/01/25 | 200 | 193,326 | ||||||
Garfunkelux Holdco 3 SA, | 100 | 75,322 | ||||||
Intelsat Jackson Holdings SA: | ||||||||
5.50%, 08/01/23(h) | USD | 632 | 413,960 | |||||
8.50%, 10/15/24(c) | 234 | 147,350 | ||||||
Intelsat SA, | 94 | 18,500 | ||||||
Summer BC Holdco B Sarl, | EUR | 100 | 91,761 | |||||
|
| |||||||
1,133,620 | ||||||||
Mexico — 2.6% | ||||||||
Alpha Holding SA de CV, | USD | 385 | 257,950 | |||||
Axtel SAB de CV, | 1,000 | 795,520 | ||||||
BBVA Bancomer SA, | 500 | 496,362 | ||||||
Cemex SAB de CV, | EUR | 200 | 195,351 |
Security | Par (000) | Value | ||||||
Mexico (continued) | ||||||||
Controladora Mabe SA de CV, | USD | 444 | $ | 419,719 | ||||
Cydsa SAB de CV, | 800 | 580,125 | ||||||
Operadora de Servicios Mega SA de CV, | 200 | 126,250 | ||||||
Orbia Advance Corp SAB de CV, | USD | 460 | 396,750 | |||||
Petroleos Mexicanos, | 119 | 82,705 | ||||||
Trust F/1401, | 1,192 | 1,120,480 | ||||||
|
| |||||||
4,471,212 | ||||||||
Mongolia — 0.1% | ||||||||
Mongolian Mortgage Corp. Hfc LLC, | 200 | 159,188 | ||||||
|
| |||||||
Netherlands — 2.9% | ||||||||
ABN AMRO Bank NV | 800 | 778,691 | ||||||
ASR Nederland NV | EUR | 400 | 425,714 | |||||
ING Groep NV | USD | 800 | 790,768 | |||||
NN Group NV | EUR | 500 | 553,628 | |||||
OCI NV, | 180 | 186,430 | ||||||
OI European Group BV, | 100 | 102,129 | ||||||
United Group BV, | 440 | 437,961 | ||||||
VEON Holdings BV, | USD | 200 | 190,000 | |||||
VZ Vendor Financing BV, | EUR | 100 | 103,893 | |||||
Ziggo BV, | USD | 1,390 | 1,390,000 | |||||
|
| |||||||
4,959,214 | ||||||||
Panama — 0.1% | ||||||||
Avianca Holdings SA, | 500 | 105,625 | ||||||
|
| |||||||
Peru — 0.6% | ||||||||
Nexa Resources SA, | 1,350 | 1,012,500 | ||||||
|
| |||||||
Portugal — 0.3% | ||||||||
EDP—Energias de Portugal SA | EUR | 500 | 568,214 | |||||
|
| |||||||
Saudi Arabia — 0.5% | ||||||||
Saudi Arabian Oil Co., | USD | 215 | 211,237 |
SCHEDULES OF INVESTMENTS | 5 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Saudi Arabia (continued) | ||||||||
Saudi Electricity Global Sukuk Co. | USD | 600 | $ | 627,000 | ||||
|
| |||||||
838,237 | ||||||||
Singapore — 0.2% | ||||||||
Puma International Financing SA, | 1,000 | 354,999 | ||||||
|
| |||||||
South Africa — 0.1% | ||||||||
Gold Fields Orogen Holdings BVI Ltd., | 254 | 238,522 | ||||||
|
| |||||||
Spain — 1.0% | ||||||||
Banco de Sabadell SA | EUR | 400 | 394,347 | |||||
Banco Santander SA, | 500 | 497,458 | ||||||
Cirsa Finance International Sarl, | USD | 200 | 166,590 | |||||
Ferrovial Netherlands BV | EUR | 100 | 89,726 | |||||
Hipercor SA, | 300 | 332,201 | ||||||
Iberdrola International BV | 200 | 221,751 | ||||||
|
| |||||||
1,702,073 | ||||||||
Sweden — 0.1% | ||||||||
Verisure Holding AB, | 144 | 147,224 | ||||||
Verisure Midholding AB, | 100 | 96,253 | ||||||
|
| |||||||
243,477 | ||||||||
Ukraine — 0.5% | ||||||||
MHP Lux SA, 6.25%, 09/19/29(c) | USD | 1,000 | 820,000 | |||||
|
| |||||||
United Kingdom — 2.3% | ||||||||
AA Bond Co. Ltd., | GBP | 300 | 365,295 | |||||
Arrow Global Finance PLC, | 240 | 256,369 | ||||||
B&M European Value Retail SA, | 100 | 109,889 | ||||||
Barclays Bank PLC, | EUR | 300 | 344,994 | |||||
Barclays PLC: | ||||||||
(5 year EUR Swap + 2.45%), | 100 | 106,988 | ||||||
(5 year EUR Swap + 1.90%), | 400 | 403,423 | ||||||
4.84%, 05/09/28(h) | USD | 500 | 510,768 | |||||
Cabot Financial Luxembourg II SA | EUR | 100 | 101,522 | |||||
Cabot Financial Luxembourg SA, | GBP | 100 | 115,620 | |||||
CPUK Finance Ltd., | 100 | 99,675 | ||||||
eG Global Finance PLC: | ||||||||
3.63%, 02/07/24 | EUR | 275 | 229,773 | |||||
4.38%, 02/07/25 | 100 | 83,710 |
Security | Par (000) | Value | ||||||
United Kingdom (continued) | ||||||||
HSBC Holdings PLC, | USD | 700 | $ | 769,567 | ||||
Ladbrokes Group Finance PLC: | ||||||||
5.13%, 09/16/22 | GBP | 7 | 7,610 | |||||
5.13%, 09/08/23 | 200 | 203,704 | ||||||
Pinnacle Bidco PLC, | 100 | 83,221 | ||||||
Premier Foods Finance PLC, | 100 | 113,329 | ||||||
|
| |||||||
3,905,457 | ||||||||
United States — 27.8% | ||||||||
Albertsons Cos., Inc./Safeway, Inc./ | ||||||||
5.75%, 03/15/25 | USD | 31 | 31,322 | |||||
7.50%, 03/15/26(c) | 15 | 16,167 | ||||||
4.63%, 01/15/27(c) | 33 | 32,835 | ||||||
5.88%, 02/15/28(c) | 19 | 19,338 | ||||||
4.88%, 02/15/30(c) | 25 | 24,938 | ||||||
Albertsons Cos., Inc./Safeway, Inc./ | 19 | 18,706 | ||||||
Ambac Assurance Corp., | 23 | 31,233 | ||||||
Ambac LSNI LLC | 498 | 473,182 | ||||||
AMC Networks, Inc.: | ||||||||
5.00%, 04/01/24 | 25 | 24,000 | ||||||
4.75%, 08/01/25 | 20 | 19,450 | ||||||
American Airlines Group, Inc.: | ||||||||
5.00%, 06/01/22(c)(h) | 1,214 | 974,235 | ||||||
4.87%, 04/22/25(a) | 211 | 217,656 | ||||||
4.00%, 12/15/25(a) | 166 | 168,059 | ||||||
American Builders & Contractors Supply Co., Inc., | 17 | 15,470 | ||||||
American Energy- Permian Basin LLC, | 712 | 284,800 | ||||||
Aramark Services, Inc.: | ||||||||
4.75%, 06/01/26 | 12 | 11,308 | ||||||
5.00%, 02/01/28(c) | 28 | 26,057 | ||||||
Arconic, Inc., | 1,540 | 1,491,444 | ||||||
Ashton Woods USA LLC/Ashton Woods Finance Co.(c): | ||||||||
9.88%, 04/01/27 | 278 | 278,000 | ||||||
6.63%, 01/15/28 | 305 | 240,950 | ||||||
Axalta Coating Systems Dutch Holding B BV, | EUR | 100 | 99,812 | |||||
Ball Corp.: | ||||||||
5.25%, 07/01/25 | USD | 25 | 27,182 | |||||
4.88%, 03/15/26 | 19 | 19,760 | ||||||
Bausch Health Cos., Inc.: | ||||||||
4.50%, 05/15/23 | EUR | 100 | 105,539 | |||||
5.50%, 11/01/25(c) | USD | 43 | 43,443 | |||||
9.00%, 12/15/25(c)(h) | 844 | 889,745 |
6 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
Bausch Health Cos., Inc. (continued): | ||||||||
5.75%, 08/15/27(c) | USD | 12 | $ | 12,355 | ||||
Berry Global, Inc., | EUR | 100 | 100,364 | |||||
Boyd Gaming Corp., | USD | 265 | 218,625 | |||||
Bruin E&P Partners LLC, | 57 | 3,990 | ||||||
Buckeye Partners LP: | ||||||||
4.13%, 03/01/25(c) | 124 | 104,532 | ||||||
3.95%, 12/01/26 | 15 | 12,296 | ||||||
Caesars Entertainment Corp., | 248 | 264,439 | ||||||
Callon Petroleum Co., | 210 | 49,875 | ||||||
Calpine Corp.(c): | ||||||||
4.50%, 02/15/28 | 817 | 791,877 | ||||||
5.13%, 03/15/28 | 512 | 471,040 | ||||||
Capitol Investment Merger Sub 2 LLC, | 664 | 597,600 | ||||||
Carlson Travel, Inc., | 886 | 602,480 | ||||||
Cedar Fair LP, | 12 | 10,140 | ||||||
Cedar Fair LP/Canada’s Wonderland Co./ | 12 | 10,320 | ||||||
Centene Corp.(c): | ||||||||
5.38%, 06/01/26 | 44 | 45,325 | ||||||
5.38%, 08/15/26 | 18 | 18,360 | ||||||
4.25%, 12/15/27 | 62 | 60,760 | ||||||
4.63%, 12/15/29 | 86 | 86,430 | ||||||
Centennial Resource Production LLC, | 1,000 | 240,000 | ||||||
Charles River Laboratories International, Inc., | 12 | 11,567 | ||||||
Charter Communications Operating LLC/ | 800 | 864,800 | ||||||
Cheniere Energy Partners LP: | ||||||||
5.63%, 10/01/26 | 27 | 24,840 | ||||||
4.50%, 10/01/29(c) | 230 | 200,100 | ||||||
Series WI, 5.25%, 10/01/25 | 37 | 34,040 | ||||||
Cheniere Energy, Inc., (4.88% PIK), | 677 | 653,497 | ||||||
Chesapeake Energy Corp., | 1,153 | 196,010 | ||||||
Churchill Downs, Inc.(c): | ||||||||
5.50%, 04/01/27 | 15 | 14,140 | ||||||
4.75%, 01/15/28 | 12 | 10,440 | ||||||
Citgo Holding, Inc., | 224 | 182,560 | ||||||
Citigroup, Inc., | 500 | 655,311 | ||||||
Clean Harbors, Inc., | 13 | 12,726 | ||||||
Clear Channel Worldwide Holdings, Inc., | 433 | 409,726 |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
Colfax Corp., | USD | 15 | $ | 14,475 | ||||
Commercial Metals Co., | 95 | 87,400 | ||||||
Crown European Holdings SA: | ||||||||
2.25%, 02/01/23 | EUR | 100 | 107,914 | |||||
0.75%, 02/15/23 | 100 | 103,948 | ||||||
CrownRock LP/CrownRock Finance, Inc., | USD | 29 | 15,080 | |||||
Darling Ingredients, Inc., | 12 | 11,636 | ||||||
DaVita, Inc., | 912 | 910,805 | ||||||
DCP Midstream Operating LP: | ||||||||
5.38%, 07/15/25 | 20 | 13,656 | ||||||
5.13%, 05/15/29 | 15 | 9,449 | ||||||
Diamond Sports Group LLC/ | 1,113 | 904,335 | ||||||
Elanco Animal Health, Inc.: | ||||||||
5.02%, 08/28/23 | 19 | 19,220 | ||||||
5.65%, 08/28/28 | 18 | 18,978 | ||||||
Endeavor Energy Resources LP/ | ||||||||
5.50%, 01/30/26 | 12 | 8,283 | ||||||
5.75%, 01/30/28 | 25 | 17,000 | ||||||
Five Point Operating Co. LP/ | 1,050 | 903,000 | ||||||
Ford Motor Credit Co. LLC: | ||||||||
3.02%, 03/06/24 | EUR | 230 | 205,745 | |||||
5.58%, 03/18/24 | USD | 292 | 277,400 | |||||
Forestar Group, Inc.(c): | ||||||||
8.00%, 04/15/24 | 488 | 492,880 | ||||||
5.00%, 03/01/28 | 230 | 190,985 | ||||||
Freeport-McMoRan, Inc.: | ||||||||
5.00%, 09/01/27 | 15 | 13,927 | ||||||
5.25%, 09/01/29 | 15 | 14,135 | ||||||
Golden Entertainment, Inc., | 149 | 98,340 | ||||||
Goldman Sachs Group, Inc., | 700 | 808,295 | ||||||
Great Lakes Dredge & Dock Corp., | 150 | 146,812 | ||||||
H&E Equipment Services, Inc., | 23 | 21,333 | ||||||
Hanesbrands, Inc.(c): | ||||||||
4.63%, 05/15/24 | 22 | 21,780 | ||||||
4.88%, 05/15/26 | 22 | 21,562 | ||||||
HCA, Inc.: | ||||||||
5.38%, 02/01/25 | 64 | 65,440 | ||||||
5.88%, 02/15/26(h) | 1,577 | 1,659,792 | ||||||
5.38%, 09/01/26 | 25 | 25,750 | ||||||
5.63%, 09/01/28 | 37 | 38,728 | ||||||
5.88%, 02/01/29 | 25 | 26,438 | ||||||
3.50%, 09/01/30 | 765 | 694,017 |
SCHEDULES OF INVESTMENTS | 7 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
Hilton Domestic Operating Co., Inc., | USD | 25 | $ | 21,250 | ||||
Hilton Worldwide Finance LLC/ | ||||||||
4.63%, 04/01/25 | 22 | 20,460 | ||||||
4.88%, 04/01/27 | 15 | 14,250 | ||||||
Howard Hughes Corp., | 25 | 24,188 | ||||||
iHeartCommunications, Inc.: | ||||||||
6.38%, 05/01/26 | 20 | 18,675 | ||||||
5.25%, 08/15/27(c) | 19 | 16,625 | ||||||
4.75%, 01/15/28(c) | 12 | 10,800 | ||||||
IQVIA, Inc., | EUR | 100 | 107,534 | |||||
Iron Mountain US Holdings, Inc., | USD | 1,540 | 1,555,400 | |||||
Iron Mountain, Inc., | EUR | 100 | 96,871 | |||||
Jagged Peak Energy LLC, | USD | 649 | 485,322 | |||||
JBS USA LUX SA/JBS USA Finance, Inc., | 22 | 23,441 | ||||||
JBS USA LUX SA/JBS USA Food Co./ | ||||||||
6.50%, 04/15/29 | 35 | 37,544 | ||||||
5.50%, 01/15/30 | 31 | 32,007 | ||||||
KB Home, | 189 | 189,945 | ||||||
Lamar Media Corp.: | ||||||||
5.75%, 02/01/26 | 16 | 16,240 | ||||||
3.75%, 02/15/28(c) | 15 | 14,061 | ||||||
Lamb Weston Holdings, Inc.(c): | ||||||||
4.63%, 11/01/24 | 21 | 20,685 | ||||||
4.88%, 11/01/26 | 21 | 21,365 | ||||||
Lennar Corp.: | ||||||||
4.75%, 05/30/25 | 12 | 11,460 | ||||||
4.75%, 11/29/27 | 22 | 21,945 | ||||||
Level 3 Financing, Inc.: | ||||||||
5.25%, 03/15/26 | 19 | 18,988 | ||||||
4.63%, 09/15/27(c) | 25 | 24,848 | ||||||
M/I Homes, Inc., | 314 | 266,507 | ||||||
Marriott Ownership Resorts, Inc./ | 19 | 16,530 | ||||||
Masonite International Corp., | 12 | 11,794 | ||||||
Matador Resources Co., | 26 | 7,618 | ||||||
Mauser Packaging Solutions Holding Co.: | ||||||||
4.75%, 04/15/24 | EUR | 110 | 103,218 | |||||
5.50%, 04/15/24(c) | USD | 150 | 138,000 | |||||
MGM Growth Properties Operating Partnership LP/ | ||||||||
5.63%, 05/01/24 | 26 | 24,960 | ||||||
4.50%, 09/01/26(h) | 1,612 | 1,337,960 |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
MGM Growth Properties Operating Partnership LP/ | ||||||||
5.75%, 02/01/27 | USD | 18 | $ | 15,660 | ||||
MGM Resorts International: | ||||||||
5.75%, 06/15/25 | 17 | 15,215 | ||||||
4.63%, 09/01/26 | 10 | 8,503 | ||||||
5.50%, 04/15/27 | 17 | 15,470 | ||||||
Molina Healthcare, Inc., | 17 | 16,575 | ||||||
MPT Operating Partnership LP/ | ||||||||
3.33%, 03/24/25 | EUR | 100 | 108,573 | |||||
5.25%, 08/01/26 | USD | 12 | 11,773 | |||||
5.00%, 10/15/27 | 35 | 33,950 | ||||||
4.63%, 08/01/29 | 22 | 20,460 | ||||||
Nationstar Mortgage Holdings, Inc., | 15 | 12,750 | ||||||
NCL Corp. Ltd., | 14 | 8,929 | ||||||
Netflix, Inc.: | ||||||||
5.88%, 02/15/25 | 20 | 21,120 | ||||||
4.38%, 11/15/26 | 25 | 25,375 | ||||||
4.88%, 04/15/28 | 39 | 40,170 | ||||||
5.88%, 11/15/28 | 47 | 50,219 | ||||||
6.38%, 05/15/29 | 20 | 21,794 | ||||||
5.38%, 11/15/29(c) | 22 | 22,828 | ||||||
4.88%, 06/15/30(c) | 25 | 25,379 | ||||||
Newell Brands, Inc., | 49 | 48,108 | ||||||
Nexstar Broadcasting, Inc., | 421 | 411,527 | ||||||
NGPL PipeCo LLC, | 925 | 920,850 | ||||||
NRG Energy, Inc.: | ||||||||
7.25%, 05/15/26 | 25 | 26,188 | ||||||
6.63%, 01/15/27 | 30 | 31,200 | ||||||
5.75%, 01/15/28 | 20 | 20,400 | ||||||
5.25%, 06/15/29(c) | 18 | 18,540 | ||||||
Outfront Media Capital LLC/ | ||||||||
5.00%, 08/15/27 | 16 | 14,720 | ||||||
4.63%, 03/15/30 | 12 | 10,680 | ||||||
Owens-Brockway Glass Container, Inc., | 1,495 | 1,420,250 | ||||||
Panther BF Aggregator 2 LP/ | 42 | 39,690 | ||||||
Parsley Energy LLC/ | 16 | 12,360 | ||||||
PDC Energy, Inc., | 15 | 8,400 | ||||||
Pilgrim’s Pride Corp., | 21 | 20,924 | ||||||
PulteGroup, Inc.: | ||||||||
5.50%, 03/01/26 | 319 | 313,725 | ||||||
5.00%, 01/15/27 | 15 | 14,967 | ||||||
QEP Resources, Inc., | 190 | 96,900 |
8 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
Quicken Loans, Inc.(c): | ||||||||
5.75%, 05/01/25(h) | USD | 1,638 | $ | 1,629,810 | ||||
5.25%, 01/15/28 | 25 | 24,445 | ||||||
Refinitiv US Holdings, Inc., | EUR | 200 | 218,374 | |||||
Rock International Investment, Inc., | USD | 350 | 264,250 | |||||
Ryman Hospitality Properties, Inc., | 17 | 12,750 | ||||||
Scientific Games International, Inc., | 280 | 172,200 | ||||||
SES SA | EUR | 200 | 204,723 | |||||
Sirius XM Radio, Inc.(c): | ||||||||
4.63%, 07/15/24 | USD | 572 | 580,540 | |||||
5.00%, 08/01/27 | 37 | 37,551 | ||||||
5.50%, 07/01/29 | 31 | 31,620 | ||||||
SM Energy Co.: | ||||||||
5.63%, 06/01/25 | 12 | 3,270 | ||||||
6.75%, 09/15/26 | 12 | 3,600 | ||||||
6.63%, 01/15/27 | 12 | 3,493 | ||||||
Sprint Corp., | 787 | 863,795 | ||||||
Standard Industries, Inc.(c): | ||||||||
6.00%, 10/15/25 | 27 | 26,536 | ||||||
5.00%, 02/15/27 | 12 | 10,920 | ||||||
4.75%, 01/15/28 | 25 | 23,024 | ||||||
Sunoco LP/Sunoco Finance Corp.: | ||||||||
6.00%, 04/15/27 | 15 | 12,900 | ||||||
Series WI, 4.88%, 01/15/23 | 25 | 23,875 | ||||||
Series WI, 5.50%, 02/15/26 | 20 | 17,306 | ||||||
Talen Energy Supply LLC(c)(h): | ||||||||
7.25%, 05/15/27 | 730 | 659,701 | ||||||
6.63%, 01/15/28 | 386 | 324,240 | ||||||
Targa Resources Partners LP/ | ||||||||
5.13%, 02/01/25 | 12 | 10,229 | ||||||
5.88%, 04/15/26 | 25 | 20,750 | ||||||
5.38%, 02/01/27 | 12 | 9,876 | ||||||
6.50%, 07/15/27 | 19 | 16,198 | ||||||
5.00%, 01/15/28 | 19 | 15,315 | ||||||
6.88%, 01/15/29 | 19 | 15,295 | ||||||
5.50%, 03/01/30(c) | 25 | 19,310 | ||||||
Taylor Morrison Communities, Inc.(c): | ||||||||
5.88%, 06/15/27 | 378 | 351,075 | ||||||
5.75%, 01/15/28(h) | 1,287 | 1,149,182 | ||||||
TEGNA, Inc.(c): | ||||||||
4.63%, 03/15/28 | 210 | 184,537 | ||||||
5.00%, 09/15/29 | 27 | 24,376 | ||||||
Teleflex, Inc., | 12 | 11,987 | ||||||
Tempur Sealy International, Inc., | 15 | 13,127 | ||||||
Tenet Healthcare Corp.: | ||||||||
4.63%, 09/01/24(c) | 543 | 520,085 |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
Tenet Healthcare Corp.: (continued) | ||||||||
5.13%, 05/01/25 | USD | 35 | $ | 33,425 | ||||
4.88%, 01/01/26(c)(h) | 924 | 880,110 | ||||||
6.25%, 02/01/27(c) | 37 | 36,075 | ||||||
5.13%, 11/01/27(c) | 37 | 35,242 | ||||||
Terex Corp., | 15 | 14,102 | ||||||
TransDigm, Inc.(h): | ||||||||
6.50%, 05/15/25 | 1,540 | 1,447,585 | ||||||
6.25%, 03/15/26(c) | 611 | 608,709 | ||||||
Transocean Phoenix 2 Ltd., | 1,156 | 997,407 | ||||||
TRI Pointe Group, Inc.: | ||||||||
4.88%, 07/01/21(h) | 676 | 627,903 | ||||||
5.25%, 06/01/27 | 295 | 262,461 | ||||||
Under Armour, Inc., | 15 | 12,715 | ||||||
United Airlines Pass-Through Trust, | 161 | 134,613 | ||||||
United Rentals North America, Inc.: | ||||||||
4.63%, 10/15/25 | 19 | 18,240 | ||||||
5.88%, 09/15/26 | 25 | 25,320 | ||||||
6.50%, 12/15/26 | 27 | 27,405 | ||||||
5.50%, 05/15/27 | 25 | 25,231 | ||||||
3.88%, 11/15/27 | 19 | 17,955 | ||||||
4.88%, 01/15/28(h) | 1,541 | 1,494,770 | ||||||
5.25%, 01/15/30 | 19 | 18,994 | ||||||
VICI Properties LP/ | ||||||||
3.50%, 02/15/25 | 19 | 17,718 | ||||||
4.25%, 12/01/26 | 31 | 28,442 | ||||||
3.75%, 02/15/27 | 19 | 17,908 | ||||||
4.63%, 12/01/29 | 277 | 252,729 | ||||||
4.13%, 08/15/30 | 25 | 23,406 | ||||||
Vistra Energy Corp., | 28 | 27,930 | ||||||
Vistra Operations Co. LLC(c): | ||||||||
5.50%, 09/01/26 | 25 | 25,750 | ||||||
5.63%, 02/15/27 | 32 | 33,000 | ||||||
5.00%, 07/31/27 | 482 | 489,230 | ||||||
Weekley Homes LLC/ | 1,418 | 1,332,920 | ||||||
William Carter Co., | 12 | 11,610 | ||||||
William Lyon Homes, Inc., | 853 | 767,700 | ||||||
WMG Acquisition Corp., | EUR | 162 | 178,670 | |||||
WPX Energy, Inc.: | ||||||||
5.75%, 06/01/26 | USD | 12 | 6,840 | |||||
5.25%, 10/15/27 | 15 | 8,250 | ||||||
Wyndham Hotels & Resorts, Inc., | 12 | 10,440 | ||||||
Wynn Las Vegas LLC/ | ||||||||
5.50%, 03/01/25 | 44 | 40,920 |
SCHEDULES OF INVESTMENTS | 9 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.(c)(continued): | ||||||||
5.25%, 05/15/27 | USD | 22 | $ | 19,910 | ||||
Wynn Resorts Finance LLC/ | 299 | 272,090 | ||||||
XPO Logistics, Inc., | 25 | 24,445 | ||||||
|
| |||||||
46,956,832 | ||||||||
Vietnam — 0.1% | ||||||||
Mong Doung Finacial Holdings BV, | 250 | 208,081 | ||||||
|
| |||||||
Total Corporate Bonds — 60.8% |
| 102,689,612 | ||||||
|
| |||||||
Floating Rate Loan Interests(d) — 12.6% |
| |||||||
Canada — 0.7% | ||||||||
WestJet Airlines Ltd., Term Loan B, | 1,531 | 1,163,684 | ||||||
|
| |||||||
Luxembourg — 0.2% | ||||||||
Intelsat Jackson Holdings SA, | 430 | 393,200 | ||||||
|
| |||||||
Netherlands — 0.6% | ||||||||
Stars Group Holdings BV, | 994 | 945,491 | ||||||
|
| |||||||
United Kingdom — 0.2% | ||||||||
Connect Finco Sarl, Term Loan B, | 500 | 391,202 | ||||||
|
| |||||||
United States — 10.9% | ||||||||
18 Fremont Street Acquisition LLC, | 1,130 | 915,226 | ||||||
Acadia Healthcare Co., Inc., | 529 | 480,356 | ||||||
Advanced Drainage Systems, Inc., | 39 | 35,783 | ||||||
Aimbridge Acquisition Co., Inc., | 240 | 167,921 | ||||||
Allegiant Travel Co., | 1,125 | 872,228 | ||||||
BCP Raptor II LLC, | 399 | 219,442 |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
Bristow Group, Inc., | USD | 130 | $ | 129,861 | ||||
Buckeye Partners LP, | 781 | 712,272 | ||||||
California Resources Corp., | 893 | 196,460 | ||||||
Chesapeake Energy Corp., | 550 | 211,750 | ||||||
CITGO Holding, Inc., | 398 | 321,055 | ||||||
CLGF Holdco 1 LLC, Term Loan, | 1,125 | 1,119,375 | ||||||
CSC Holdings LLC, | 248 | 236,421 | ||||||
Diamond Sports Group LLC, Term Loan, | 868 | 668,083 | ||||||
Foundation Building Materials LLC, | 558 | 481,221 | ||||||
Gates Global LLC, | 1,548 | 1,334,575 | ||||||
Genesee & Wyoming Inc. (New), Term Loan, | 239 | 227,798 | ||||||
Golden Nugget LLC, 2017 Incremental Term Loan B, | 308 | 238,777 | ||||||
Grifols Worldwide Operations USA, Inc., | 491 | 462,456 | ||||||
Jeld-Wen, Inc., | 875 | 767,272 | ||||||
KAR Auction Services, Inc., | 45 | 41,208 | ||||||
Lamar Media Corp., 2020 Term Loan B, | 34 | 31,989 | ||||||
PCI Gaming Authority, Term Loan, | 403 | 326,532 | ||||||
Pioneer Energy Services Corp., Term Loan, | 1,504 | 1,413,760 |
10 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
Playtika Holding Corp., | USD | 787 | $ | 730,768 | ||||
PLH Infrastructure Services, Inc., | 311 | 248,443 | ||||||
Ply Gem Midco, Inc., | 1,448 | 1,223,671 | ||||||
Robertshaw US Holding Corp., | 843 | 505,947 | ||||||
Roundpoint Mortgage Servicing Corp., | 717 | 718,698 | ||||||
Scientific Games International, Inc., | 1,548 | 1,243,868 | ||||||
Select Medical Corp., | 141 | 133,049 | ||||||
SRS Distribution, Inc., | 158 | 132,778 | ||||||
Summit Materials Companies I LLC, | 846 | 732,255 | ||||||
TransDigm, Inc., | 755 | 685,393 | ||||||
XPO Logistics, Inc., | 471 | 443,997 | ||||||
|
| |||||||
18,410,688 | ||||||||
|
| |||||||
Total Floating Rate Loan Interests — 12.6% | 21,304,265 | |||||||
|
| |||||||
Foreign Agency Obligations — 7.5% | ||||||||
Bahrain — 0.2% | ||||||||
CBB International Sukuk Co. 7 SPC, | 410 | 403,338 | ||||||
|
| |||||||
Colombia — 1.3% | ||||||||
Colombia Government International Bond: | ||||||||
8.13%, 05/21/24 | 590 | 676,656 | ||||||
4.50%, 01/28/26(h) | 671 | 681,694 | ||||||
3.88%, 04/25/27(h) | 670 | 659,741 |
Security | Par (000) | Value | ||||||
Colombia (continued) | ||||||||
Colombia Government International Bond (continued): | ||||||||
3.00%, 01/30/30 | USD | 225 | $ | 203,400 | ||||
|
| |||||||
2,221,491 | ||||||||
Dominican Republic — 0.3% | ||||||||
Dominican Republic International Bond, | 461 | 441,407 | ||||||
|
| |||||||
Egypt — 1.4% | ||||||||
Egypt Government Bond: | ||||||||
16.00%, 06/11/22 | EGP | 3,249 | 209,070 | |||||
14.30%, 09/03/22 | 7,035 | 438,993 | ||||||
Egypt Government International Bond: | ||||||||
5.75%, 04/29/20(h) | USD | 1,051 | 1,047,716 | |||||
6.38%, 04/11/31(c) | EUR | 737 | 642,395 | |||||
|
| |||||||
2,338,174 | ||||||||
Indonesia — 0.5% | ||||||||
Indonesia Government International Bond: | ||||||||
4.75%, 01/08/26 | USD | 200 | 211,750 | |||||
4.10%, 04/24/28 | 200 | 204,188 | ||||||
Indonesia Treasury Bond: | ||||||||
8.38%, 09/15/26 | IDR | 1,947,000 | 122,299 | |||||
6.13%, 05/15/28 | 4,647,000 | 253,434 | ||||||
|
| |||||||
791,671 | ||||||||
Maldives — 0.1% | ||||||||
Republic of Maldives Ministry of Finance | USD | 200 | 153,830 | |||||
|
| |||||||
Nigeria — 0.3% | ||||||||
Nigeria Government International Bond(h): | ||||||||
6.38%, 07/12/23 | 232 | 191,545 | ||||||
7.63%, 11/21/25 | 445 | 342,650 | ||||||
|
| |||||||
534,195 | ||||||||
Paraguay — 0.1% | ||||||||
Paraguay Government International Bond, | 250 | 234,141 | ||||||
|
| |||||||
Qatar — 1.3% | ||||||||
Qatar Government International Bond: | ||||||||
4.50%, 04/23/28 | 920 | 1,016,600 | ||||||
4.00%, 03/14/29(c)(h) | 1,145 | 1,225,150 | ||||||
|
| |||||||
2,241,750 | ||||||||
Russia — 0.4% | ||||||||
Russian Foreign Bond—Eurobond: | ||||||||
4.75%, 05/27/26 | 400 | 425,400 |
SCHEDULES OF INVESTMENTS | 11 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Russia (continued) | ||||||||
Russian Foreign Bond — Eurobond (continued): | ||||||||
4.25%, 06/23/27 | USD | 200 | $ | 209,500 | ||||
|
| |||||||
634,900 | ||||||||
Saudi Arabia — 0.9% | ||||||||
Saudi Government International Bond(h): | ||||||||
4.38%, 04/16/29(c) | 200 | 214,937 | ||||||
4.50%, 04/17/30 | 1,200 | 1,290,000 | ||||||
|
| |||||||
1,504,937 | ||||||||
Sri Lanka — 0.1% | ||||||||
Sri Lanka Government International Bond: | ||||||||
7.85%, 03/14/29 | 200 | 108,212 | ||||||
7.55%, 03/28/30 | 200 | 110,250 | ||||||
|
| |||||||
218,462 | ||||||||
Ukraine — 0.6% | ||||||||
Ukraine Government International Bond: | ||||||||
7.75%, 09/01/22 | 100 | 94,000 | ||||||
7.75%, 09/01/23 | 230 | 215,050 | ||||||
8.99%, 02/01/24 | 224 | 205,520 | ||||||
7.75%, 09/01/25 | 439 | 396,746 | ||||||
|
| |||||||
911,316 | ||||||||
|
| |||||||
Total Foreign Agency Obligations — 7.5% |
| 12,629,612 | ||||||
|
| |||||||
Non-Agency Mortgage-Backed Securities — 17.9% |
| |||||||
Collateralized Mortgage Obligations — 2.4% | ||||||||
Alternative Loan Trust, | 728 | 477,274 | ||||||
ARI Investments LLC, | 775 | 774,645 | ||||||
BCAP LLC Trust, | 1,009 | 890,254 | ||||||
MASTR Reperforming Loan Trust, | 926 | 697,990 | ||||||
RALI Trust, | 2,896 | 825,393 | ||||||
Wells Fargo Mortgage Backed Securities Trust, | 582 | 458,454 | ||||||
|
| |||||||
4,124,010 | ||||||||
Commercial Mortgage-Backed Securities — 15.5% | ||||||||
245 Park Avenue Trust, | 380 | 284,743 |
Security | Par (000) | Value | ||||||
Commercial Mortgage-Backed Securities (continued) | ||||||||
Bayview Commercial Asset Trust, | USD | 2,000 | $ | 1,638,046 | ||||
BBCMS Mortgage Trust, | 500 | 407,402 | ||||||
BBCMS Trust (c): | ||||||||
Series2015-STP, Class E, | 1,000 | 968,730 | ||||||
Series2019-CLP, Class D, | 424 | 398,586 | ||||||
Benchmark Mortgage Trust, | 1,000 | 805,628 | ||||||
BX Commercial Mortgage Trust(c)(d): | ||||||||
Series2018-IND, Class H, | 700 | 507,191 | ||||||
Series 2020-BXLP, Class F, | 388 | 333,615 | ||||||
BX Trust, | 652 | 485,503 | ||||||
BXP Trust, Series2017-CC(c)(e): | ||||||||
Class D, 3.67%, 08/13/37 | 180 | 152,936 | ||||||
Class E, 3.67%, 08/13/37 | 350 | 224,754 | ||||||
CAMB Commercial Mortgage Trust, | 633 | 581,492 | ||||||
CFCRE Commercial Mortgage Trust, Class C(e): | ||||||||
Series2011-C1, 6.09%, 04/15/44(c) | 1,000 | 1,011,882 | ||||||
Series2016-C3, 4.91%, 01/10/48 | 1,000 | 855,232 | ||||||
CFK Trust, Series2019-FAX, Class E, | 1,000 | 819,026 | ||||||
Citigroup Commercial Mortgage Trust(e): | ||||||||
Series 2015-GC27, Class C, | 1,000 | 863,816 | ||||||
Series2016-C1, Class C, | 534 | 501,372 | ||||||
Series2016-C1, Class D, | 1,000 | 848,878 | ||||||
Series2016-P3, Class D, | 500 | 348,294 | ||||||
DBGS Mortgage Trust, | 499 | 293,676 | ||||||
DBJPM Mortgage Trust, | 11,000 | 613,360 |
12 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Commercial Mortgage-Backed Securities (continued) | ||||||||
DBUBS Mortgage Trust(c)(e): | ||||||||
Series 2011-LC1A, Class E, 5.88%, 11/10/46 | USD | 1,000 | $ | 949,403 | ||||
Series 2017-BRBK, Class F, 3.65%, 10/10/34 | 390 | 274,386 | ||||||
GS Mortgage Securities Corp. Trust, | ||||||||
Class D, (1 mo. LIBOR US + 1.30%), | 120 | 106,220 | ||||||
Class E, (1 mo. LIBOR US + 1.50%), | 240 | 210,367 | ||||||
Class F, (1 mo. LIBOR US + 1.80%), | 10 | 8,295 | ||||||
Class G, (1 mo. LIBOR US + 2.50%), | 70 | 57,385 | ||||||
GS Mortgage Securities Trust, Series2017-GS7(c): | ||||||||
Class D, 3.00%, 08/10/50 | 375 | 247,941 | ||||||
Class E, 3.00%, 08/10/50 | 300 | 183,861 | ||||||
JPMBB Commercial Mortgage Securities Trust,Series 2015-C33, Class D1, | 1,619 | 1,221,142 | ||||||
JPMCC Commercial Mortgage Securities Trust,Series 2017-JP5, Class D, | 1,240 | 993,692 | ||||||
JPMorgan Chase Commercial Mortgage | 250 | 186,395 | ||||||
LSTAR Commercial Mortgage Trust, | ||||||||
Class C, 4.87%, 03/10/50 | 1,000 | 828,952 | ||||||
Class X, 1.15%, 03/10/50 | 11,388 | 419,939 | ||||||
MAD Mortgage Trust, Series 2017-330M(c)(e): | ||||||||
Class D, 3.84%, 08/15/34 | 130 | 115,214 | ||||||
Class E, 3.90%, 08/15/34 | 180 | 139,540 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust, Class D: | ||||||||
Series2015-C23, | 1,000 | 786,766 | ||||||
Series2015-C25, | 39 | 28,495 | ||||||
Morgan Stanley Capital I Trust: | ||||||||
Series2017-H1, Class D, | 1,010 | 647,150 | ||||||
Series2017-H1, Class XD, | 8,625 | 1,139,707 | ||||||
Series2018-H4, Class C, | 711 | 580,379 | ||||||
Series2018-MP, Class E, | 250 | 163,307 | ||||||
Series2018-SUN, Class F, | 220 | 160,768 |
Security | Par (000) | Value | ||||||
Commercial Mortgage-Backed Securities (continued) | ||||||||
Morgan Stanley Capital I Trust (continued): | ||||||||
Series 2019-AGLN, Class F, | USD | 1,000 | $ | 775,001 | ||||
Series 2019-NUGS, Class E, | 500 | 479,958 | ||||||
Natixis Commercial Mortgage | 170 | 115,526 | ||||||
Olympic Tower Mortgage Trust, | ||||||||
Class D, 4.08%, 05/10/39 | 140 | 111,599 | ||||||
Class E, 4.08%, 05/10/39 | 190 | 127,489 | ||||||
US 2018-USDC, Series 2018-USDC, Class E, | 770 | 637,245 | ||||||
Wells Fargo Commercial Mortgage Trust: | ||||||||
Series 2015-NXS4, Class D, | 305 | 230,101 | ||||||
Series2016-C37, Class C, | 1,000 | 821,198 | ||||||
Series 2016-NXS5, Class D, | 500 | 401,748 | ||||||
Series2018-BXI, Class E, | 93 | 72,995 | ||||||
|
| |||||||
26,166,326 | ||||||||
|
| |||||||
TotalNon-Agency Mortgage-Backed Securities — 17.9% |
| 30,290,336 | ||||||
|
| |||||||
Preferred Securities |
| |||||||
Capital Trusts — 4.7% |
| |||||||
Belgium — 0.1% | ||||||||
Solvay Finance SA, 5.43%(j)(k) | EUR | 140 | 159,810 | |||||
|
| |||||||
China — 0.2% | ||||||||
Agile Group Holdings Ltd., 6.88%(j)(k) | USD | 200 | 165,000 | |||||
King Talent Management Ltd., 5.60%(j)(k) | 200 | 170,375 | ||||||
|
| |||||||
335,375 | ||||||||
Denmark — 0.5% | ||||||||
Orsted A/S, 2.25%,(j) | EUR | 800 | 819,570 | |||||
|
| |||||||
France — 1.8% | ||||||||
AXA SA, 3.25%,(j) | 700 | 761,576 | ||||||
Electricite de France SA, 5.38%(j)(k) | 100 | 112,675 | ||||||
Engie SA, 3.25%(j)(k) | 700 | 761,414 | ||||||
Societe Generale SA, 5.63%, | USD | 700 | 735,357 |
SCHEDULES OF INVESTMENTS | 13 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
France (continued) | ||||||||
TOTAL SA, 3.37%(j)(k) | EUR | 600 | $ | 669,112 | ||||
|
| |||||||
3,040,134 | ||||||||
Germany — 0.4% | ||||||||
Volkswagen International Finance NV(j)(k): | ||||||||
3.88% | EUR | 500 | 475,951 | |||||
4.63% | 300 | 312,043 | ||||||
|
| |||||||
787,994 | ||||||||
Hong Kong — 0.1% | ||||||||
FWD Ltd., 5.50%(j)(k) | USD | 200 | 192,500 | |||||
|
| |||||||
Netherlands — 0.1% | ||||||||
Koninklijke KPN NV, 2.00%(j)(k) | EUR | 100 | 102,454 | |||||
|
| |||||||
South Korea — 0.1% | ||||||||
KDB Life Insurance Co. Ltd., 7.50%(j)(k) | USD | 200 | 193,000 | |||||
|
| |||||||
Spain — 0.8% | ||||||||
Bankia SA, 6.00%(j)(k) | EUR | 200 | 168,305 | |||||
Naturgy Finance BV, 4.13%(j)(k) | 100 | 108,378 | ||||||
Repsol International Finance BV, 3.88%(j)(k) | USD | 100 | 106,430 | |||||
Telefonica Europe BV(j)(k): | ||||||||
3.75% | 400 | 428,788 | ||||||
3.88% | 500 | 516,922 | ||||||
4.38% | 100 | 107,222 | ||||||
|
| |||||||
1,436,045 | ||||||||
Switzerland — 0.3% | ||||||||
Argentum Netherlands BV for Swiss Re Ltd., 5.75%,(h)(j) | 500 | 498,780 | ||||||
Holcim Finance Luxembourg SA, 3.00%(j)(k) | 100 | 95,036 | ||||||
|
| |||||||
593,816 | ||||||||
Switzerland — 0.1% | ||||||||
Holcim Finance Luxembourg SA, 3.00%(j)(k) | 100 | 95,036 | ||||||
|
| |||||||
United Kingdom — 0.1% | ||||||||
Vodafone Group PLC, 3.10%,(m) | 100 | 106,016 | ||||||
|
| |||||||
United States — 0.1% | ||||||||
Belden, Inc., 4.13%, | 100 | 102,998 | ||||||
|
| |||||||
Total Capital Trusts — 4.7% | 7,964,748 | |||||||
|
| |||||||
Shares | ||||||||
Preferred Stocks — 0.1% | ||||||||
United States — 0.1% | ||||||||
Bristow Group, Inc.(a)(i)(k): | ||||||||
10.00%(c) | 1 | 51,749 |
Security | Shares | Value | ||||||
United States (continued) | ||||||||
Bristow Group, Inc.(a)(i)(k) (continued): | ||||||||
Series AI, 10.00% | 1 | $ | 21,867 | |||||
|
| |||||||
Total Preferred Stocks — 0.1% | 73,616 | |||||||
|
| |||||||
Total Preferred Securities— 4.8% | 8,038,364 | |||||||
|
| |||||||
Par (000) | ||||||||
U.S. Government Sponsored Agency Securities — 0.6% |
| |||||||
Collateralized Mortgage Obligations — 0.4% | ||||||||
Fannie Mae Connecticut Avenue Securities, | USD | 106 | 94,009 | |||||
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2017-DNA2, Class B1, | 1,000 | 512,889 | ||||||
|
| |||||||
606,898 | ||||||||
Commercial Mortgage-Backed Securities — 0.2% | ||||||||
FREMF Mortgage Trust, | 500 | 427,450 | ||||||
|
| |||||||
Total U.S. Government Sponsored Agency | 1,034,348 | |||||||
|
| |||||||
Total Long-Term Investments — 121.1% | 204,641,287 | |||||||
|
| |||||||
Short-Term Securities — 4.3% | ||||||||
Foreign Agency Obligations — 0.2% | ||||||||
Egypt Treasury Bills(n): | ||||||||
17.20%, 05/26/20 | EGP | 3,400 | 211,347 |
14 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Egypt Treasury Bills (n) (continued): | ||||||||
17.60%, 05/26/20 | EGP | 2,800 | $ | 174,050 | ||||
|
| |||||||
Total Foreign Agency Obligations | 385,397 | |||||||
Shares | ||||||||
Money Market Funds — 4.1% | ||||||||
BlackRock Liquidity Funds,T-Fund, | 6,967,717 | 6,967,717 | ||||||
|
|
Value | ||||||||
Total Money Market | $ | 6,967,717 | ||||||
|
| |||||||
Total Short-Term Securities — 4.3% | 7,353,114 | |||||||
Options Purchased — 0.0% | 20,520 | |||||||
|
| |||||||
Total Investments — 125.4% | 212,014,921 | |||||||
Liabilities in Excess of Other Assets — (25.4)% | (42,970,765 | ) | ||||||
|
| |||||||
Net Assets — 100.0% | $ | 169,044,156 | ||||||
|
|
(a) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(b) | Non-income producing security. |
(c) | 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. |
(d) | Variable rate security. Rate shown is the rate in effect as of period end. |
(e) | Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
(f) | Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end. |
(g) | Issuer filed for bankruptcy and/or is in default. |
(h) | All or a portion of the security has been pledged as collateral in connection with outstanding reverse repurchase agreements. |
(i) | 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. |
(j) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(k) | Perpetual security with no stated maturity date. |
(l) | Convertible security. |
(m) | Variable rate security. Rate shown is the rate in effect as of period end. |
(n) | Rates are discount rates or a range of discount rates as of period end. |
(o) | Annualized7-day yield as of period end. |
(p) | Investments in issuers considered to be an affiliate/affiliates of the Trust during the period ended March 31, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: |
Affiliate Issuer | Shares Held at 12/31/19 | Shares Purchased | Shares Sold | Shares Held at 03/31/20 | Value at 03/31/20 | Income | Net Realized Gain (Loss)(a) | Change in Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
BlackRock Liquidity Funds,T-Fund, Institutional Class | 182,194 | 6,785,523 | (b) | — | 6,967,717 | $ | 6,967,717 | $ | 11,269 | $ | — | $ | — |
(a) | Includes net capital gain distributions, if applicable. |
(b) | Represents net shares purchased (sold). |
For Trust compliance purposes, the Trust’s industry classifications refer to one or more of the industrysub-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 industrysub-classifications for reporting ease.
Currency Abbreviations | ||
EUR | Euro | |
EGP | Egyptian Pound | |
GBP | British Pound | |
HKD | Hong Kong Dollar | |
IDR | Indonesian Rupiah |
SCHEDULES OF INVESTMENTS | 15 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) |
Currency Abbreviations(continued) | ||
USD | U. S. Dollar | |
Portfolio Abbreviations | ||
ABS | Asset-Backed Security | |
CLO | Collateralized Loan Obligation | |
CR | Custodian Receipt | |
EURIBOR | Euro Interbank Offered Rate | |
LIBOR | London Interbank Offered Rate | |
HKD | Hong Kong Dollar | |
OTC | Over-the-Counter | |
PIK | Payment-In-Kind | |
S&P | Standard & Poor’s |
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) | |||||||
BNP Paribas S.A. | 1.15% | 07/05/19 | Open | $1,133,572 | $1,154,414 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 07/18/19 | Open | 633,150 | 644,270 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.04 | 08/28/19 | Open | 838,250 | 849,209 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.04 | 08/28/19 | Open | 820,000 | 830,720 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.04 | 08/28/19 | Open | 815,500 | 826,161 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 421,875 | 428,048 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 708,750 | 719,121 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 1,280,094 | 1,298,826 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 1,282,050 | 1,300,811 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 842,500 | 854,829 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 1,407,175 | 1,427,767 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 1,305,150 | 1,324,249 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 1,391,775 | 1,412,141 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 1,354,000 | 1,373,814 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 08/28/19 | Open | 525,690 | 533,383 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.25 | 08/29/19 | Open | 715,901 | 726,108 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.25 | 08/29/19 | Open | 644,015 | 653,197 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.25 | 08/29/19 | Open | 554,800 | 562,710 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.25 | 11/27/19 | Open | 1,031,940 | 1,039,909 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.25 | 11/27/19 | Open | 1,260,563 | 1,270,297 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.25 | 11/27/19 | Open | 788,968 | 795,060 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 12/27/19 | Open | 740,110 | 744,629 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 01/06/20 | Open | 631,575 | 634,801 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 01/06/20 | Open | 446,350 | 448,762 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 01/06/20 | Open | 405,840 | 408,033 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 01/06/20 | Open | 325,205 | 326,962 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 01/06/20 | Open | 853,755 | 858,368 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.25 | 01/08/20 | Open | 640,911 | 644,258 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 02/14/20 | Open | 1,184,975 | 1,188,500 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 0.25 | 03/02/20 | Open | 139,125 | 139,266 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 0.75 | 03/02/20 | Open | 945,900 | 947,253 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 0.90 | 03/02/20 | Open | 780,091 | 781,305 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.00 | 03/02/20 | Open | 587,250 | 588,212 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.00 | 03/02/20 | Open | 676,250 | 677,358 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.20 | 03/02/20 | Open | 1,281,000 | 1,283,313 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.25 | 03/02/20 | Open | 805,000 | 806,487 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.25 | 03/02/20 | Open | 934,960 | 936,687 | Corporate Bonds | Open/Demand |
16 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) |
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. | 1.30% | 03/02/20 | Open | $689,947 | $691,250 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 0.95 | 03/02/20 | Open | 706,125 | 707,253 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 713,943 | 715,202 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 1,242,719 | 1,244,911 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 629,525 | 630,635 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 1,052,810 | 1,054,667 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 1,410,000 | 1,412,487 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 501,760 | 502,645 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 846,110 | 847,602 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 809,583 | 811,011 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 868,750 | 870,282 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 913,500 | 915,111 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 138,938 | 139,183 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 577,275 | 578,293 | Corporate Bonds | Open/Demand | |||||||
BNP Paribas S.A. | 1.15 | 03/02/20 | Open | 880,616 | 882,169 | Corporate Bonds | Open/Demand | |||||||
Credit Suisse Securities (USA) LLC | 1.75 | 03/02/20 | Open | 632,417 | 633,416 | Corporate Bonds | Open/Demand | |||||||
Goldman Sachs & Co. | 0.50 | 03/02/20 | Open | 757,054 | 758,200 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.25 | 03/03/20 | Open | 1,068,817 | 1,070,658 | Corporate Bonds | Open/Demand | |||||||
Credit Suisse Securities (USA) LLC | 0.00 | 03/03/20 | Open | 200,390 | 200,540 | Corporate Bonds | Open/Demand | |||||||
RBC Capital Markets LLC | 1.30 | 03/03/20 | Open | 986,281 | 988,018 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.10 | 03/13/20 | Open | 834,260 | 834,842 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 2.00 | 03/20/20 | Open | 155,000 | 155,078 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.75 | 03/26/20 | Open | 184,750 | 184,795 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 2.75 | 03/26/20 | Open | 411,875 | 412,032 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 1.25 | 03/30/20 | Open | 709,935 | 709,960 | Corporate Bonds | Open/Demand | |||||||
Credit Suisse Securities (USA) LLC | 2.25 | 03/30/20 | Open | 287,581 | 287,599 | Corporate Bonds | Open/Demand | |||||||
Barclays Capital, Inc. | 0.00 | 03/31/20 | Open | 544,871 | 544,871 | Corporate Bonds | Open/Demand | |||||||
|
| |||||||||||||
$49,888,847 | $50,221,948 | |||||||||||||
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|
(a) | Certain agreements have no stated maturity and can be terminated by either party at any time. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value / Unrealized Appreciation (Depreciation) | ||||||||||||
Long Contracts | ||||||||||||||||
U.S. Ultra Long Treasury Bond | 41 | 06/19/20 | $ | 9,097 | $ | 496,836 | ||||||||||
2-Year U.S. Treasury Note | 69 | 06/30/20 | 15,206 | 258,626 | ||||||||||||
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| |||||||||||||||
755,462 | ||||||||||||||||
�� |
|
SCHEDULES OF INVESTMENTS | 17 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) |
Futures Contracts(continued)
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value / Unrealized | ||||||||||||
Short Contracts | ||||||||||||||||
10-Year U.S. Treasury Note | 15 | 06/19/20 | $ | 2,080 | $ | (66,575 | ) | |||||||||
10-Year U.S. Ultra Long Treasury Note | 32 | 06/19/20 | 4,993 | (223,447 | ) | |||||||||||
5-Year U.S. Treasury Note | 196 | 06/30/20 | 24,570 | (779,046 | ) | |||||||||||
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| |||||||||||||||
$ | (1,069,068 | ) | ||||||||||||||
|
| |||||||||||||||
$ | (313,606 | ) | ||||||||||||||
|
|
Forward Foreign Currency Exchange Contracts
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
EUR | 2,671,079 | USD | 2,916,047 | JPMorgan Chase Bank N.A. | 04/03/20 | $ | 29,968 | |||||||||||||
GBP | 31,446 | USD | 36,510 | JPMorgan Chase Bank N.A. | 04/03/20 | 2,549 | ||||||||||||||
GBP | 1,736,000 | USD | 2,152,709 | JPMorgan Chase Bank N.A. | 04/03/20 | 3,604 | ||||||||||||||
USD | 2,427,519 | GBP | 1,882,000 | Morgan Stanley & Co. International PLC | 04/03/20 | 89,857 | ||||||||||||||
USD | 20,775,858 | EUR | 18,805,000 | UBS AG | 05/05/20 | 9,457 | ||||||||||||||
HKD | 542,585 | USD | 69,871 | Bank of America N.A. | 06/16/20 | 95 | ||||||||||||||
USD | 819,721 | EUR | 737,000 | UBS AG | 06/17/20 | 4,522 | ||||||||||||||
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| |||||||||||||||||||
140,052 | ||||||||||||||||||||
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| |||||||||||||||||||
EUR | 18,805,000 | USD | 20,747,557 | UBS AG | 04/03/20 | (6,942 | ) | |||||||||||||
USD | 23,873,335 | EUR | 21,713,000 | UBS AG | 04/03/20 | (74,602 | ) | |||||||||||||
USD | 2,154,324 | GBP | 1,736,000 | JPMorgan Chase Bank N.A. | 05/05/20 | (3,506 | ) | |||||||||||||
USD | 464,911 | HKD | 3,612,751 | Bank of America N.A. | 06/16/20 | (952 | ) | |||||||||||||
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| |||||||||||||||||||
$ | (86,002 | ) | ||||||||||||||||||
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| |||||||||||||||||||
Net unrealized appreciation |
| $ | 54,050 | |||||||||||||||||
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OTC Options Purchased
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Put | ||||||||||||||||||||||||||||||
USD Currency | Bank of America N.A. | 4,500,000 | 04/07/20 | JPY | 105.00 | USD | 4,500 | $ | 11,263 | |||||||||||||||||||||
USD Currency | JPMorgan Chase Bank N.A. | 4,500,000 | 04/08/20 | JPY | 104.00 | USD | 4,500 | 9,257 | ||||||||||||||||||||||
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| |||||||||||||||||||||||||||||
$ | 20,520 | |||||||||||||||||||||||||||||
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|
OTC Credit Default Swaps — Sell Protection
Reference Obligation/ Index | Financing Rate Received by the Trust | Payment Frequency | Counterparty | Termination Date | Credit Rating(a) | Notional Amount (000)(b) | Value | Upfront Premium Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||||
CMBX.NA.9. | 3.00 | % | Annual | Morgan Stanley & Co. International PLC | 09/17/58 | NR | USD | 5,000 | $ | (1,271,971 | ) | $ | (528,242 | ) | $ | (743,729 | ) | |||||||||||||||||||||
CMBX.NA.9. | 3.00 | Annual | Morgan Stanley & Co. International PLC | 09/17/58 | NR | USD | 3,000 | (763,182 | ) | (313,110 | ) | (450,072 | ) | |||||||||||||||||||||||||
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| |||||||||||||||||||||||||||||||||||
$ | (2,035,153 | ) | $ | (841,352 | ) | $ | (1,193,801 | ) | ||||||||||||||||||||||||||||||
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(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. |
18 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) |
Fair Value Hierarchy as of Period End
• | Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: |
• | Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access |
• | Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
• | Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments and derivative 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 investments and derivative financial instruments is based on the pricing transparency of the investments and derivative 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 investments and derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its annual report.
The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Investments: | ||||||||||||||||
Long-Term Investments(a): | ||||||||||||||||
Common Stocks | $ | — | $ | — | $ | 23,643 | $ | 23,643 | ||||||||
Asset-Backed Securities | — | 28,488,334 | 142,773 | 28,631,107 | ||||||||||||
Corporate Bonds | 513,972 | 101,789,925 | 385,715 | 102,689,612 | ||||||||||||
Floating Rate Loan Interests | — | 16,628,084 | 4,676,181 | 21,304,265 | ||||||||||||
Foreign Agency Obligations | — | 12,629,612 | — | 12,629,612 | ||||||||||||
Non-Agency Mortgage-Backed Securities | — | 29,515,691 | 774,645 | 30,290,336 | ||||||||||||
Preferred Securities | — | 7,964,748 | 73,616 | 8,038,364 | ||||||||||||
U.S. Government Sponsored Agency Securities | — | 1,034,348 | — | 1,034,348 | ||||||||||||
Short-Term Securities: | ||||||||||||||||
Foreign Agency Obligations | — | 385,397 | — | 385,397 | ||||||||||||
Money Market Funds | 6,967,717 | — | — | 6,967,717 | ||||||||||||
Options Purchased: | ||||||||||||||||
Foreign Currency Exchange Contracts | — | 20,520 | — | 20,520 | ||||||||||||
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|
|
|
| |||||||||
$ | 7,481,689 | $ | 198,456,659 | $ | 6,076,573 | $ | 212,014,921 | |||||||||
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Derivative Financial Instruments(b) | ||||||||||||||||
Assets: | ||||||||||||||||
Foreign currency exchange contracts | — | 140,052 | — | 140,052 | ||||||||||||
Interest rate contracts | 755,462 | — | — | 755,462 |
SCHEDULES OF INVESTMENTS | 19 |
Schedule of Investments (unaudited) (continued) March 31, 2020 | BlackRock 2022 Global Income Opportunity Trust (BGIO) |
Liabilities: | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Credit contracts | — | (1,193,801 | ) | — | (1,193,801 | ) | ||||||||||
Foreign currency exchange contracts | — | (86,002 | ) | — | (86,002 | ) | ||||||||||
Interest rate contracts | (1,069,068 | ) | — | — | (1,069,068 | ) | ||||||||||
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|
|
|
|
|
| |||||||||
$ | (313,606 | ) | $ | (1,139,751 | ) | $ | — | $ | (1,453,357 | ) | ||||||
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|
|
|
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|
|
(a) | See above Schedule of Investments for values in each industry. |
(b) | Derivative financial instruments are swaps, futures contracts, forward foreign currency exchange contracts, and options written. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value. |
A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:
Asset Backed Securities | Common Stocks | Corporate Bonds | Floating Rate Loan Interests | Non-Agency Mortgage-Backed Securities | Preferred Stock | Total | ||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||
Opening balance, as of December 31, 2019 | $ | — | $ | 69,920 | $ | 399,054 | $ | 6,552,615 | $ | 797,483 | $ | 86,562 | $ | 7,905,634 | ||||||||||||||
Transfers into Level 3 | 183,385 | — | — | 1,097,282 | — | — | 1,280,667 | |||||||||||||||||||||
Transfers out of Level 3 | — | — | — | (765,083 | ) | — | — | (765,083 | ) | |||||||||||||||||||
Accrued discounts/premiums |
| — |
| — | — | 6,014 | — | — | 6,014 | |||||||||||||||||||
Net realized gain (loss) | — | — | — | 923 | — | — | 923 | |||||||||||||||||||||
Net change in unrealized appreciation (depreciation)(a) | (30,377 | ) | (46,277 | ) | 85 | (377,587 | ) | — | (12,946 | ) | (467,102 | ) | ||||||||||||||||
Purchases | — | — | — | 37 | — | — | 37 | |||||||||||||||||||||
Sales | (10,235 | ) | — | (13,424 | ) | (1,838,020 | ) | (22,838 | ) | — | (1,884,517 | ) | ||||||||||||||||
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|
|
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|
|
| |||||||||||||||
Closing balance, as of March 31, 2020 | $ | 142,773 | $ | 23,643 | $ | 385,715 | $ | 4,676,181 | $ | 774,645 | $ | 73,616 | $ | 6,076,573 | ||||||||||||||
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| |||||||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2020(a) | $ | (30,377 | ) | $ | (46,277 | ) | $ | 85 | $ | (372,359 | ) | $ | — | $ | (12,946 | ) | $ | (461,874 | ) | |||||||||
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(a) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at March 31, 2020 is generally due to investments no longer held or categorized as Level 3 at period end. |
The Fund’s investments that are categorized as Level 3 were valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.
20 | 2020 BLACKROCK SEMI-ANNUAL REPORTTO SHAREHOLDERS |