Regulatory Filings • Jan 22, 2015
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Download Source FileN-Q 1 e62255nq.htm FORM N-Q
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-21413
Name of Fund: BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Floating Rate Income Strategies Fund, Inc., 55 East 52 nd Street, New York, NY 10055
Registrant’s telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 08/31/2015
Date of reporting period: 11/30/2014
Item 1 – Schedule of Investments
Field: Page; Sequence: 1
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| Consolidated Schedule of Investments November 30, 2014 (Unaudited) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Common Stocks (a) | Shares | ||
|---|---|---|---|
| Chemicals — 0.0% | |||
| GEO Specialty Chemicals, Inc. | 23,849 | $ 23,133 | |
| Diversified Consumer Services — 0.6% | |||
| Cengage Thomson Learning | 37,579 | 980,812 | |
| Houghton Mifflin Harcourt Co. | 116,627 | 2,241,571 | |
| 3,222,383 | |||
| Diversified Financial Services — 0.1% | |||
| Kcad Holdings I Ltd. | 217,833,983 | 871,336 | |
| Electrical Equipment — 0.0% | |||
| Medis Technologies Ltd. | 260,833 | 3 | |
| Paper & Forest Products — 0.3% | |||
| Ainsworth Lumber Co. Ltd. | 393,892 | 899,045 | |
| Ainsworth Lumber Co. Ltd. (b) | 346,000 | 801,556 | |
| 1,700,601 | |||
| Semiconductors & Semiconductor Equipment — 0.0% | |||
| SunPower Corp. | 1,860 | 52,378 | |
| Total Common Stocks — 1.0% | 5,869,834 | ||
| Asset-Backed Securities | Par (000) | ||
| ALM Loan Funding (b)(c): | |||
| Series 2013-7RA, Class C, 3.68%, 4/24/24 | USD | 1,075 | 1,011,563 |
| Series 2013-7RA, Class D, 5.23%, 4/24/24 | 900 | 826,856 | |
| Series 2013-8A, Class B, 2.98%, 1/20/26 | 1,150 | 1,105,935 | |
| ALM XIV Ltd., Series 2014-14A (b)(c): | |||
| Class B, 3.18%, 7/28/26 | 563 | 542,696 | |
| Class C, 3.68%, 7/28/26 | 713 | 662,281 | |
| AMMC CLO 15, Ltd., Series 2014-15A, Class D, 4.44%, 12/09/26 (b)(c)(d) | 1,000 | 955,000 | |
| ARES CLO, Ltd., Series 2014-32A, Class C, 4.43%, 11/15/25 (b)(c)(d) | 1,000 | 971,600 | |
| Atlas Senior Loan Fund Ltd., Series 2014-6A, Class D, 3.96%, 10/15/26 (b)(c) | 860 | 798,600 | |
| Atrium CDO Corp., Series 9A, Class D, 3.74%, 2/28/24 (b)(c) | 1,100 | 1,040,783 | |
| Benefit Street Partners CLO II Ltd., Series 2013-IIA, Class C, 3.73%, 7/15/24 (b)(c) | 650 | 602,778 | |
| Carlyle Global Market Strategies CLO Ltd. (b)(c): | |||
| Series 2012-4A, Class D, 4.73%, 1/20/25 | 700 | 699,970 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Asset-Backed Securities | Par (000) | ||
|---|---|---|---|
| Carlyle Global Market Strategies CLO Ltd. (b)(c) (concluded): | |||
| Series 2013-1A, Class C, 4.23%, 2/14/25 | USD | 250 | $ 242,965 |
| Cent CLO 22, Ltd., Series 2014-22A, Class C, 3.98%, 11/07/26 (b)(c) | 625 | 591,188 | |
| CIFC Funding Ltd., Series 2014-3A, Class C1, 2.95%, 7/22/26 (b)(c) | 250 | 238,390 | |
| Fraser Sullivan CLO VII Ltd., Series 2012-7A, Class C, 4.23%, 4/20/23 (b)(c) | 950 | 930,041 | |
| Madison Park Funding XI Ltd., Series 2013-11A, Class D, 3.73%, 10/23/25 (b)(c) | 370 | 349,632 | |
| North End CLO Ltd., Series 2013-1A, Class D, 3.73%, 7/17/25 (b)(c) | 750 | 701,161 | |
| Octagon Investment Partners XVII Ltd., Series 2013-1A, Class D, 3.43%, 10/25/25 (b)(c) | 1,000 | 918,722 | |
| Octagon Investment Partners XX Ltd., Series 2014-1A, Class C, 3.04%, 8/12/26 (b)(c) | 250 | 239,083 | |
| Octagon Investment Partners XXI Ltd., Series 2014-1A, Class C, 3.88%, 11/14/26 (b)(c) | 500 | 470,750 | |
| OZLM Funding Ltd., Series 2012-2A, Class C, 4.58%, 10/30/23 (b)(c) | 500 | 488,177 | |
| OZLM VII Ltd., Series 2014-7A, Class C, 3.85%, 7/17/26 (b)(c) | 250 | 233,686 | |
| Regatta Funding LP, Series 2013-2A, Class C, 4.23%, 1/15/25 (b)(c) | 500 | 480,615 | |
| Sound Point CLO, Ltd., Series 2014-3A, Class D, 3.89%, 1/23/27 (b)(c)(d) | 1,250 | 1,128,125 | |
| Symphony CLO Ltd., Series 2012-10A, Class D, 5.48%, 7/23/23 (b)(c) | 1,500 | 1,502,128 | |
| Voya CLO Ltd. (b): | |||
| Series 2014-3A, Class C, 3.83%, 7/25/26 (c) | 250 | 235,423 | |
| Series 2014-4A, Class C, 4.23%, 10/14/26 (c) | 1,000 | 964,700 | |
| Series 2014-4A, Class SUB, 0.00%, 10/14/26 | 1,000 | 925,000 | |
| Total Asset-Backed Securities — 3.5% | 19,857,848 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
Field: Page; Sequence: 2
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 1
Field: /Page
| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Corporate Bonds | Par (000) | ||
|---|---|---|---|
| Airlines — 0.7% | |||
| American Airlines Pass-Through Trust, Series 2013-2, Class C, 6.00%, 1/15/17 (b) | USD | 1,140 | $ 1,174,200 |
| Delta Air Lines Pass-Through Trust, Series 2009-1, Class B, 9.75%, 12/17/16 | 183 | 206,580 | |
| US Airways Pass-Through Trust, Series 2012-2, Class C, 5.45%, 6/03/18 | 2,605 | 2,637,563 | |
| 4,018,343 | |||
| Auto Components — 0.4% | |||
| Icahn Enterprises LP/Icahn Enterprises Finance Corp.: | |||
| 3.50%, 3/15/17 | 717 | 708,934 | |
| 4.88%, 3/15/19 | 1,415 | 1,432,687 | |
| 2,141,621 | |||
| Capital Markets — 0.2% | |||
| Blackstone CQP Holdco LP, 9.30%, 3/18/19 | 907 | 915,783 | |
| E*Trade Financial Corp., 0.00%, 8/31/19 (b)(e)(f) | 129 | 284,526 | |
| 1,200,309 | |||
| Chemicals — 0.7% | |||
| GEO Specialty Chemicals, Inc., 7.50%, 3/31/15 (b) | 1,559 | 3,928,902 | |
| Commercial Services & Supplies — 0.3% | |||
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 2.98%, 12/01/17 (c) | 295 | 293,156 | |
| AWAS Aviation Capital Ltd., 7.00%, 10/17/16 (b) | 939 | 957,560 | |
| United Rentals North America, Inc., 5.75%, 7/15/18 | 350 | 365,750 | |
| 1,616,466 | |||
| Communications Equipment — 0.3% | |||
| Avaya, Inc., 7.00%, 4/01/19 (b) | 390 | 381,225 | |
| Zayo Group LLC/Zayo Capital, Inc., 8.13%, 1/01/20 | 1,323 | 1,412,302 | |
| 1,793,527 | |||
| Construction & Engineering — 0.1% | |||
| Safway Group Holding LLC/Safway Finance Corp., 7.00%, 5/15/18 (b) | 335 | 337,730 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Construction Materials — 0.1% — HD Supply, Inc., 5.25%, 12/15/21 (b)(d) | 790 | $ 806,788 |
|---|---|---|
| Diversified Financial Services — 0.4% | ||
| Ally Financial, Inc.: | ||
| 2.91%, 7/18/16 (c) | 1,375 | 1,387,691 |
| 7.50%, 9/15/20 | 128 | 150,080 |
| 8.00%, 11/01/31 | 645 | 809,688 |
| 2,347,459 | ||
| Energy Equipment & Services — 0.2% | ||
| Peabody Energy Corp., 6.00%, 11/15/18 | 1,425 | 1,357,312 |
| Health Care Providers & Services — 0.6% | ||
| CHS/Community Health Systems, Inc., 6.88%, 2/01/22 | 314 | 332,448 |
| HCA, Inc., 5.88%, 5/01/23 | 370 | 390,812 |
| Tenet Healthcare Corp. (b): | ||
| 5.00%, 3/01/19 | 1,400 | 1,379,000 |
| 5.50%, 3/01/19 | 1,040 | 1,045,200 |
| 3,147,460 | ||
| Hotels, Restaurants & Leisure — 0.4% | ||
| Caesars Entertainment Operating Co., Inc., 9.00%, 2/15/20 | 2,640 | 2,093,644 |
| Tropicana Entertainment LLC/Tropicana Finance Corp., 9.63%, 12/15/14 (a)(g) | 120 | — |
| 2,093,644 | ||
| Independent Power and Renewable Electricity Producers — 0.3% | ||
| Calpine Corp., 6.00%, 1/15/22 (b) | 349 | 372,557 |
| Dynegy Finance I, Inc. / Dynegy Finance II, Inc., 6.75%, 11/01/19 (b) | 1,400 | 1,456,000 |
| 1,828,557 | ||
| Media — 0.2% | ||
| NAI Entertainment Holdings/NAI Entertainment Holdings Finance Corp., 5.00%, 8/01/18 (b) | 514 | 531,990 |
| Numericable Group SA, 6.00%, 5/15/22 (b) | 842 | 855,278 |
| 1,387,268 | ||
| Metals & Mining — 0.1% | ||
| Novelis, Inc., 8.38%, 12/15/17 | 255 | 265,838 |
| Oil, Gas & Consumable Fuels — 0.2% | ||
| CONSOL Energy, Inc., 5.88%, 4/15/22 (b) | 620 | 618,450 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
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BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 2
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| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Corporate Bonds | Par (000) | ||
|---|---|---|---|
| Oil, Gas & Consumable Fuels (concluded) | |||
| EP Energy LLC/Everest Acquisition Finance, Inc., 6.88%, 5/01/19 | USD | 635 | $ 661,988 |
| 1,280,438 | |||
| Road & Rail — 0.2% | |||
| Florida East Coast Holdings Corp., 6.75%, 5/01/19 (b) | 884 | 903,890 | |
| Wireless Telecommunication Services — 1.0% | |||
| Digicel Group Ltd., 8.25%, 9/30/20 (b) | 1,355 | 1,388,875 | |
| Sprint Communications, Inc., 7.00%, 3/01/20 (b) | 3,510 | 3,863,194 | |
| T-Mobile USA, Inc., 6.13%, 1/15/22 | 225 | 228,937 | |
| 5,481,006 | |||
| Total Corporate Bonds — 6.4% | 35,936,558 | ||
| Floating Rate Loan Interests (c) | |||
| Aerospace & Defense — 2.2% | |||
| BE Aerospace, Inc., 2014 Term Loan B, 4.25%, 11/19/21 | 2,945 | 2,948,063 | |
| DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/20 | 2,206 | 2,196,052 | |
| TASC, Inc., 2nd Lien Term Loan, 12.00%, 5/30/21 | 1,175 | 1,190,663 | |
| Transdigm, Inc.: | |||
| Term Loan C, 3.75%, 2/28/20 | 884 | 875,522 | |
| Term Loan D, 3.75%, 6/04/21 | 823 | 814,840 | |
| TransUnion LLC, Term Loan, 4.00%, 4/09/21 | 4,766 | 4,722,869 | |
| 12,748,009 | |||
| Air Freight & Logistics — 0.5% | |||
| CEVA Group PLC, Synthetic LC, 6.50%, 3/19/21 | 738 | 697,139 | |
| CEVA Intercompany BV, Synthetic LC, 6.50%, 3/19/21 | 774 | 731,490 | |
| CEVA Logistics Canada ULC, Canadian Term Loan, 6.50%, 3/19/21 | 133 | 126,119 | |
| CEVA Logistics US Holdings, Inc., Term Loan, 6.50%, 3/19/21 | 1,068 | 1,008,951 | |
| 2,563,699 | |||
| Airlines — 0.7% | |||
| Delta Air Lines, Inc., 2018 Term Loan B1, 3.25%, 10/18/18 | 1,425 | 1,406,649 | |
| Northwest Airlines, Inc.: | |||
| 2.18%, 3/10/17 | 653 | 631,840 | |
| 1.56%, 9/10/18 | 958 | 910,664 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Airlines (concluded) | |||
| US Airways Group, Inc., Term Loan B1, 3.50%, 5/23/19 | USD | 1,139 | $ 1,117,961 |
| 4,067,114 | |||
| Auto Components — 5.0% | |||
| Affinia Group Intermediate Holdings, Inc., Term Loan B2, 4.75%, 4/27/20 | 1,286 | 1,288,047 | |
| Armored Autogroup, Inc., Term Loan B, 6.00%, 11/04/16 | 243 | 242,806 | |
| Autoparts Holdings Ltd.: | |||
| 1st Lien Term Loan, 6.50%, 7/29/17 | 2,783 | 2,784,732 | |
| 2nd Lien Term Loan, 10.50%, 1/29/18 | 1,079 | 1,053,083 | |
| Dayco Products LLC, Term Loan B, 5.25%, 12/12/19 | 1,583 | 1,576,500 | |
| FPC Holdings, Inc., 1st Lien Term Loan, 5.25%, 11/19/19 | 1,547 | 1,520,357 | |
| Gates Global, Inc., Term Loan B, 4.25%, 7/05/21 | 8,820 | 8,728,537 | |
| Goodyear Tire & Rubber Co., 2nd Lien Term Loan, 4.75%, 4/30/19 | 5,015 | 5,029,092 | |
| GPX International Tire Corp., Term Loan (a)(g): | |||
| PIK, 0.00%, 3/30/12 (h) | 18 | — | |
| 0.00%, 3/31/12 | 1,097 | — | |
| INA Beteiligungsgesellschaft mbH, Term Loan B, 4.25%, 5/15/20 | 2,520 | 2,522,444 | |
| Transtar Holding Co., 1st Lien Term Loan, 5.75%, 10/09/18 | 2,089 | 2,067,925 | |
| UCI International, Inc., Term Loan B, 5.50%, 7/26/17 | 1,444 | 1,439,245 | |
| 28,252,768 | |||
| Automobiles — 0.3% | |||
| Chrysler Group LLC, Term Loan B: | |||
| 2018, 3.25%, 12/31/18 | 821 | 815,162 | |
| 3.50%, 5/24/17 | 871 | 865,931 | |
| 1,681,093 | |||
| Banks — 0.3% | |||
| Redtop Acquisitions Ltd.: | |||
| 1st Lien Term Loan, 4.50%, 12/03/20 | 1,156 | 1,159,153 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
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BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 3
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| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Banks (concluded) | |||
| Redtop Acquisitions Ltd. (concluded): | |||
| 2nd Lien Term Loan, 8.25%, 6/03/21 | USD | 308 | $ 308,060 |
| 1,467,213 | |||
| Building Products — 3.6% | |||
| Continental Building Products LLC, 1st Lien Term Loan, 4.00%, 8/28/20 | 1,565 | 1,538,832 | |
| CPG International, Inc., Term Loan, 4.75%, 9/30/20 | 4,271 | 4,260,525 | |
| GYP Holdings III Corp., 1st Lien Term Loan, 4.75%, 4/01/21 | 1,408 | 1,384,173 | |
| Interline Brands, Inc., 2021 Term Loan, 4.00%, 3/17/21 | 1,746 | 1,712,750 | |
| Jeld-Wen, Inc., Term Loan B, 5.25%, 10/15/21 | 3,065 | 3,055,437 | |
| Nortek, Inc., Term Loan, 3.75%, 10/30/20 | 2,085 | 2,062,635 | |
| Ply Gem Industries, Inc., Term Loan, 4.00%, 2/01/21 | 1,015 | 1,001,372 | |
| Quikrete Holdings, Inc., 1st Lien Term Loan, 4.00%, 9/28/20 | 1,691 | 1,676,125 | |
| Wilsonart LLC: | |||
| Incremental Term Loan B2, 4.00%, 10/31/19 | 501 | 492,757 | |
| Term Loan B, 4.00%, 10/31/19 | 3,395 | 3,337,274 | |
| 20,521,880 | |||
| Capital Markets — 0.5% | |||
| Affinion Group, Inc.: | |||
| 2nd Lien Term Loan, 8.50%, 10/12/18 | 1,010 | 933,360 | |
| Term Loan B, 6.75%, 4/30/18 | 1,362 | 1,304,787 | |
| American Capital Holdings, Inc., 2017 Term Loan, 3.50%, 8/22/17 | 870 | 862,976 | |
| 3,101,123 | |||
| Chemicals — 4.4% | |||
| Allnex (Luxembourg) & Cy SCA, Term Loan B1, 4.50%, 10/03/19 | 1,102 | 1,101,895 | |
| Allnex USA, Inc., Term Loan B2, 4.50%, 10/03/19 | 572 | 571,720 | |
| Axalta Coating Systems US Holdings, Inc., Term Loan, 3.75%, 2/01/20 | 1,991 | 1,962,563 | |
| CeramTec Acquisition Corp., Term Loan B2, 4.25%, 8/30/20 | 116 | 116,023 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Chemicals (concluded) | |||
| Chemtura Corp., Term Loan B, 3.50%, 8/27/16 | USD | 499 | $ 498,524 |
| Chromaflo Technologies Corp., 1st Lien Term Loan, 4.50%, 12/02/19 | 1,141 | 1,131,388 | |
| Evergreen Acqco 1 LP, Term Loan, 5.00%, 7/09/19 | 2,054 | 2,047,161 | |
| INEOS US Finance LLC, 6 Year Term Loan, 3.75%, 5/04/18 | 859 | 848,612 | |
| MacDermid, Inc., 1st Lien Term Loan, 4.00%, 6/07/20 | 2,866 | 2,821,863 | |
| Minerals Technologies Inc., Term Loan B, 4.00%, 5/09/21 | 2,158 | 2,155,139 | |
| Nexeo Solutions LLC, Term Loan B, 5.00%, 9/08/17 | 2,448 | 2,427,230 | |
| OXEA Finance LLC: | |||
| 2nd Lien Term Loan, 8.25%, 7/15/20 | 1,365 | 1,324,050 | |
| Term Loan B2, 4.25%, 1/15/20 | 2,525 | 2,470,855 | |
| Royal Adhesives and Sealants LLC, 1st Lien Term Loan, 5.50%, 7/31/18 | 679 | 679,683 | |
| Solenis International LP: | |||
| 1st Lien Term Loan, 4.25%, 7/31/21 | 1,545 | 1,522,798 | |
| 2nd Lien Term Loan, 7.75%, 7/31/22 | 1,725 | 1,689,965 | |
| Tata Chemicals North America, Inc., Term Loan B, 3.75%, 8/07/20 | 583 | 573,886 | |
| Univar, Inc., Term Loan B, 5.00%, 6/30/17 | 981 | 975,667 | |
| 24,919,022 | |||
| Commercial Services & Supplies — 5.8% | |||
| ADS Waste Holdings, Inc., Term Loan, 3.75%, 10/09/19 | 3,226 | 3,165,689 | |
| ARAMARK Corp.: | |||
| Extended Synthetic Line of Credit 2, 3.65%, 7/26/16 | 46 | 45,725 | |
| Extended Synthetic Line of Credit 3, 3.65%, 7/26/16 | 32 | 31,918 | |
| Term Loan E, 3.25%, 9/07/19 | 2,848 | 2,814,423 | |
| Term Loan F, 3.25%, 2/24/21 | 865 | 852,925 | |
| Brand Energy & Infrastructure Services, Inc., Term Loan B, 4.75%, 11/26/20 | 3,799 | 3,775,683 | |
| Catalent Pharma Solutions, Inc., Term Loan: | |||
| 6.50%, 12/29/17 | 74 | 73,544 | |
| B, 4.25%, 5/20/21 | 4,551 | 4,554,902 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
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BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 4
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| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Commercial Services & Supplies (concluded) | |||
| Connolly Corp.: | |||
| 1st Lien Term Loan, 5.00%, 5/14/21 | USD | 2,993 | $ 2,999,054 |
| 2nd Lien Term Loan, 8.00%, 5/14/22 | 1,500 | 1,498,125 | |
| KAR Auction Services, Inc., Term Loan B2, 3.50%, 3/11/21 | 1,352 | 1,348,632 | |
| Koosharem LLC, Exit Term Loan, 7.50%, 5/15/20 | 2,394 | 2,376,045 | |
| Livingston International, Inc., 1st Lien Term Loan, 5.00%, 4/18/19 | 1,343 | 1,295,995 | |
| Spin Holdco, Inc., Term Loan B, 4.25%, 11/14/19 | 4,316 | 4,285,337 | |
| US Ecology, Inc., Term Loan, 3.75%, 6/17/21 | 948 | 941,702 | |
| West Corp., Term Loan B10, 3.25%, 6/30/18 | 2,606 | 2,576,049 | |
| 32,635,748 | |||
| Communications Equipment — 3.2% | |||
| Amaya Holdings BV: | |||
| 1st Lien Term Loan, 5.00%, 8/01/21 | 835 | 833,697 | |
| 2nd Lien Term Loan, 8.00%, 8/01/22 | 5,815 | 5,916,763 | |
| Applied Systems, Inc.: | |||
| 1st Lien Term Loan, 4.25%, 1/25/21 | 1,432 | 1,424,489 | |
| 2nd Lien Term Loan, 7.50%, 1/23/22 | 380 | 379,525 | |
| Avaya, Inc., Extended Term Loan B3, 4.65%, 10/26/17 | 1,510 | 1,466,010 | |
| CommScope, Inc., Term Loan B3, 2.66% - 2.83%, 1/21/17 | 691 | 687,419 | |
| Telesat Canada, Term Loan A, 4.37%, 3/24/17 | CAD | 2,188 | 1,908,204 |
| Zayo Group LLC/Zayo Capital, Inc., Term Loan B, 4.00%, 7/02/19 | USD | 5,447 | 5,432,148 |
| 18,048,255 | |||
| Construction & Engineering — 0.3% | |||
| AECOM Technology Corp., Term Loan B, 3.75%, 10/15/21 | 845 | 846,478 | |
| BakerCorp International, Inc., Term Loan, 4.25%, 2/14/20 | 1,143 | 1,108,370 | |
| 1,954,848 | |||
| Construction Materials — 1.5% | |||
| Filtration Group Corp., 1st Lien Term Loan, 4.50%, 11/21/20 | 963 | 961,820 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Construction Materials (concluded) | |||
| HD Supply, Inc., Term Loan B, 4.00%, 6/28/18 | USD | 7,171 | $ 7,144,097 |
| McJunkin Red Man Corp., Term Loan, 5.00%, 11/08/19 | 658 | 653,208 | |
| 8,759,125 | |||
| Containers & Packaging — 1.0% | |||
| Ardagh Holdings USA, Inc., Incremental Term Loan, 4.00%, 12/17/19 | 920 | 916,537 | |
| Berry Plastics Holding Corp., Term Loan E, 3.75%, 1/06/21 | 2,496 | 2,459,734 | |
| BWAY Holding Company, Inc., Term Loan B, 5.50%, 8/14/20 | 1,506 | 1,509,238 | |
| Rexam PLC, 1st Lien Term Loan, 4.25%, 5/02/21 | 773 | 770,488 | |
| 5,655,997 | |||
| Distributors — 1.5% | |||
| ABC Supply Co., Inc., Term Loan, 3.50%, 4/16/20 | 4,985 | 4,888,097 | |
| American Tire Distributors Holdings, Inc., Term Loan B, 5.75%, 6/01/18 | 1,448 | 1,450,039 | |
| Crossmark Holdings, Inc., 1st Lien Term Loan, 4.50%, 12/20/19 | 1,012 | 988,578 | |
| VWR Funding, Inc., Term Loan, 3.41%, 4/03/17 | 1,189 | 1,179,473 | |
| 8,506,187 | |||
| Diversified Consumer Services — 3.0% | |||
| Allied Security Holdings LLC: | |||
| 1st Lien Term Loan, 4.25%, 2/12/21 | 2,876 | 2,857,121 | |
| 2nd Lien Term Loan, 8.00%, 8/13/21 | 417 | 414,697 | |
| Bright Horizons Family Solutions, Inc., Term Loan B, 3.75% - 5.00%, 1/30/20 | 2,776 | 2,748,973 | |
| CT Technologies Intermediate Holdings, Inc., 2014 Term Loan, 1.00%, 11/13/21 | 575 | 572,125 | |
| Garda World Securities Corp.: | |||
| Delayed Draw Term Loan, 4.00%, 11/06/20 | 298 | 293,986 | |
| Term Loan B, 4.00%, 11/06/20 | 1,166 | 1,149,218 | |
| ROC Finance LLC, Term Loan, 5.00%, 6/20/19 | 1,069 | 1,020,755 | |
| ServiceMaster Company, 2014 Term Loan B, 4.25%, 7/01/21 | 3,705 | 3,679,991 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
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BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 5
Field: /Page
| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Diversified Consumer Services (concluded) | |||
| Transfirst Holdings, Inc.: | |||
| 2014 1st Lien Term Loan, 5.50%, 11/12/21 | USD | 1,373 | $ 1,377,793 |
| 2014 2nd Lien Term Loan, 9.00%, 11/12/22 | 741 | 745,058 | |
| Weight Watchers International, Inc., Term Loan B2, 4.00%, 4/02/20 | 2,797 | 2,173,664 | |
| 17,033,381 | |||
| Diversified Financial Services — 1.4% | |||
| AssuredPartners Capital, Inc., 1st Lien Term Loan, 4.50%, 3/31/21 | 1,495 | 1,480,050 | |
| Reynolds Group Holdings, Inc., Dollar Term Loan, 4.00%, 12/01/18 | 3,253 | 3,240,351 | |
| RPI Finance Trust, Term Loan B3, 3.25%, 11/09/18 | 388 | 386,796 | |
| SAM Finance Luxembourg Sarl, Term Loan, 4.25%, 12/17/20 | 2,576 | 2,585,195 | |
| 7,692,392 | |||
| Diversified Telecommunication Services — 4.6% | |||
| Consolidated Communications, Inc., Term Loan B, 4.25%, 12/23/20 | 3,026 | 3,031,924 | |
| Hawaiian Telcom Communications, Inc., Term Loan B, 5.00%, 6/06/19 | 2,710 | 2,710,816 | |
| Integra Telecom, Inc.: | |||
| 2nd Lien Term Loan, 9.75%, 2/21/20 | 1,125 | 1,115,865 | |
| Term Loan B, 5.25%, 2/22/19 | 2,009 | 1,993,707 | |
| Level 3 Financing, Inc.: | |||
| 2019 Term Loan, 4.00%, 8/01/19 | 1,647 | 1,642,912 | |
| 2020 Term Loan B, 4.00%, 1/15/20 | 10,260 | 10,244,610 | |
| Incremental Term Loan B5, 4.50%, 1/31/22 | 3,675 | 3,685,327 | |
| Syniverse Holdings, Inc., Term Loan B, 4.00%, 4/23/19 | 1,939 | 1,905,110 | |
| 26,330,271 | |||
| Electric Utilities — 0.5% | |||
| American Energy - Utica LLC: | |||
| 2nd Lien Delayed Draw Term Loan, 11.00%, 9/30/18 | 221 | 214,420 | |
| 2nd Lien Term Loan, 5.50%, 9/30/18 | 1,034 | 1,034,496 | |
| Incremental 2nd Lien Term Loan, 11.00%, 9/30/18 | 221 | 214,454 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Electric Utilities (concluded) | |||
| Energy Future Intermediate Holding Co LLC, DIP Term Loan, 4.25%, 6/19/16 | USD | 1,425 | $ 1,425,898 |
| 2,889,268 | |||
| Electrical Equipment — 1.5% | |||
| Southwire Co., Term Loan, 3.25%, 2/10/21 | 1,174 | 1,144,383 | |
| Texas Competitive Electric Holdings Co. LLC: | |||
| DIP Term Loan, 3.75%, 5/05/16 | 2,557 | 2,570,928 | |
| Extended Term Loan, 4.65%, 10/10/17 (a)(g) | 6,610 | 4,786,962 | |
| 8,502,273 | |||
| Electronic Equipment, Instruments & Components — 0.3% | |||
| CDW LLC, Term Loan, 3.25%, 4/29/20 | 2,018 | 1,988,841 | |
| Energy Equipment & Services — 0.8% | |||
| Dynegy Holdings, Inc., Term Loan B2, 4.00%, 4/23/20 | 1,817 | 1,809,896 | |
| Exgen Texas Power LLC, Term Loan B, 5.75%, 9/16/21 | 1,170 | 1,175,850 | |
| MEG Energy Corp., Refinancing Term Loan, 3.75%, 3/31/20 | 1,573 | 1,527,836 | |
| 4,513,582 | |||
| Food & Staples Retailing — 1.3% | |||
| Alliance Boots Holdings Ltd., Term Loan B1, 3.48%, 7/09/15 | GBP | 1,749 | 2,726,421 |
| New Albertson's, Inc., Term Loan, 4.75%, 6/27/21 | USD | 1,475 | 1,467,625 |
| Rite Aid Corp., 2nd Lien Term Loan, 5.75%, 8/21/20 | 1,040 | 1,048,663 | |
| Supervalu, Inc., Refinancing Term Loan B, 4.50%, 3/21/19 | 2,226 | 2,214,313 | |
| 7,457,022 | |||
| Food Products — 3.5% | |||
| CTI Foods Holding Co. LLC, 1st Lien Term Loan, 4.50%, 6/29/20 | 1,124 | 1,107,728 | |
| Del Monte Foods, Inc., 1st Lien Term Loan, 4.25% - 5.50%, 2/18/21 | 1,562 | 1,448,312 | |
| Diamond Foods, Inc., Term Loan, 4.25%, 8/20/18 | 2,994 | 2,971,377 | |
| Dole Food Co., Inc., Term Loan B, 4.50 - 5.75%%, 11/01/18 | 2,600 | 2,587,339 | |
| GFA Brands, Inc., Term Loan B, 4.50%, 7/09/20 | 490 | 485,149 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
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BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 6
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| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Food Products (concluded) | |||
| H.J. Heinz Co., Term Loan B1, 3.25%, 6/07/19 | USD | 311 | $ 309,507 |
| Hearthside Group Holdings LLC, Term Loan, 4.50%, 6/02/21 | 2,155 | 2,154,600 | |
| Pabst Brewing Company, Inc., Term Loan, 5.75%, 10/21/21 | 764 | 764,592 | |
| Performance Food Group Co., 2nd Lien Term Loan, 6.25%, 11/14/19 | 1,455 | 1,447,251 | |
| Pinnacle Foods Finance LLC: | |||
| Incremental Term Loan H, 3.00%, 4/29/20 | 530 | 521,928 | |
| Term Loan G, 3.00%, 4/29/20 | 2,638 | 2,598,895 | |
| Reddy Ice Corp.: | |||
| 1st Lien Term Loan, 6.75% - 7.75%, 5/01/19 | 2,458 | 2,211,817 | |
| 2nd Lien Term Loan, 10.75%, 11/01/19 | 1,195 | 1,003,800 | |
| 19,612,295 | |||
| Health Care Equipment & Supplies — 6.2% | |||
| Arysta LifeScience SPC LLC, 1st Lien Term Loan, 4.50%, 5/29/20 | 2,760 | 2,748,951 | |
| Biomet, Inc., Term Loan B2, 3.66%, 7/25/17 | 3,100 | 3,093,894 | |
| Capsugel Holdings US, Inc., Term Loan B, 3.50%, 8/01/18 | 1,929 | 1,906,835 | |
| DJO Finance LLC, 2017 Term Loan, 4.25%, 9/15/17 | 4,261 | 4,251,749 | |
| Fresenius SE & Co. KGaA, Term Loan B: | |||
| Incremental, 2.33%, 6/28/19 | EUR | 526 | 653,432 |
| 2.23%, 8/07/19 | USD | 2,683 | 2,670,612 |
| The Hologic, Inc., Term Loan B, 3.25%, 8/01/19 | 3,292 | 3,279,115 | |
| Iasis Healthcare LLC, Term Loan B2, 4.50%, 5/03/18 | 431 | 431,237 | |
| Immucor, Inc., Refinancing Term Loan B2, 5.00%, 8/17/18 | 3,527 | 3,529,101 | |
| Leonardo Acquisition Corp., Term Loan, 4.25%, 1/31/21 | 2,194 | 2,173,856 | |
| Millennium Laboratories, Inc., Term Loan B, 5.25%, 4/16/21 | 2,618 | 2,626,633 | |
| National Vision, Inc.: | |||
| 1st Lien Term Loan, 4.00%, 3/12/21 | 2,747 | 2,686,952 | |
| 2nd Lien Term Loan, 6.75%, 3/11/22 | 1,080 | 1,001,700 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Health Care Equipment & Supplies (concluded) | |||
| Ortho-Clinical Diagnostics, Inc., Term Loan B, 4.75%, 6/30/21 | USD | 4,000 | $ 3,959,975 |
| 35,014,042 | |||
| Health Care Providers & Services — 7.3% | |||
| Amedisys, Inc., 2nd Lien Term Loan, 8.50%, 6/25/20 | 1,470 | 1,433,250 | |
| Amsurg Corp., 1st Lien Term Loan B, 3.75% - 5.25%, 7/16/21 | 1,302 | 1,297,090 | |
| Ardent Medical Services, Inc., Term Loan, 6.75%, 7/02/18 | 1,060 | 1,067,648 | |
| CareCore National LLC, Term Loan B, 5.50%, 3/06/21 | 1,195 | 1,197,247 | |
| CHG Healthcare Services Inc., Term Loan, 4.25%, 11/19/19 | 1,721 | 1,716,089 | |
| CHS/Community Health Systems, Inc., Term Loan D, 4.25%, 1/27/21 | 8,600 | 8,613,429 | |
| ConvaTec, Inc., Term Loan, 4.00%, 12/22/16 | 2,339 | 2,334,164 | |
| DaVita HealthCare Partners, Inc., Term Loan B, 3.50%, 6/24/21 | 9,691 | 9,648,364 | |
| Envision Acquisition Co. LLC, Term Loan, 5.75%, 11/04/20 | 1,035 | 1,034,550 | |
| Envision Healthcare Corp., Term Loan, 4.00%, 5/25/18 | 1,907 | 1,898,306 | |
| Genesis HealthCare Corp., Term Loan B, 10.00%, 9/25/17 | 1,193 | 1,246,854 | |
| HCA, Inc.: | |||
| Extended Term Loan B4, 2.98%, 5/01/18 | 1,127 | 1,122,949 | |
| Term Loan B5, 2.91%, 3/31/17 | 819 | 816,126 | |
| Ikaria, Inc.: | |||
| 1st Lien Term Loan, 5.00%, 2/12/21 | 392 | 393,437 | |
| 2nd Lien Term Loan, 8.75%, 2/14/22 | 315 | 316,575 | |
| inVentiv Health, Inc., Incremental Term Loan B3, 7.75% - 8.50%, 5/15/18 | 1,099 | 1,090,035 | |
| MPH Acquisition Holdings LLC, Term Loan, 3.75%, 3/31/21 | 2,202 | 2,165,667 | |
| National Mentor Holdings, Inc., Term Loan B, 4.75%, 1/31/21 | 1,275 | 1,269,062 | |
| Surgery Center Holdings, Inc., 1st Lien Term Loan, 5.25%, 11/03/20 | 990 | 988,793 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
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BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 7
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| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Health Care Providers & Services (concluded) | |||
| Surgical Care Affiliates, Inc., Class C Incremental Term Loan, 4.00%, 6/29/18 | USD | 1,842 | $ 1,832,479 |
| 41,482,114 | |||
| Health Care Technology — 0.9% | |||
| IMS Health, Inc., Term Loan, 3.50%, 3/17/21 | 3,353 | 3,312,650 | |
| MedAssets, Inc., Term Loan B, 4.00%, 12/13/19 | 1,910 | 1,896,975 | |
| 5,209,625 | |||
| Hotels, Restaurants & Leisure — 10.9% | |||
| 1011778 B.C. Unlimited Liability Co., 2014 Term Loan B, 4.50%, 10/27/21 | 5,620 | 5,632,308 | |
| Boyd Gaming Corp., Term Loan B, 4.00%, 8/14/20 | 1,116 | 1,105,445 | |
| Bronco Midstream Funding LLC, Term Loan B, 5.00%, 8/15/20 | 3,012 | 2,996,494 | |
| Caesars Entertainment Operating Co., Inc.: | |||
| Extended Term Loan B6, 6.99%, 3/01/17 | 1,455 | 1,324,814 | |
| Term Loan B7, 9.75%, 1/28/18 | 1,289 | 1,186,329 | |
| Caesars Entertainment Resort Properties LLC, Term Loan B, 7.00%, 10/11/20 | 3,918 | 3,728,958 | |
| CCM Merger, Inc., Term Loan B, 4.50%, 8/08/21 | 1,665 | 1,663,924 | |
| Dave & Buster's, Inc., Term Loan, 4.50%, 7/25/20 | 669 | 668,670 | |
| Diamond Resorts Corp., Term Loan, 5.50%, 5/09/21 | 2,344 | 2,326,544 | |
| Four Seasons Holdings, Inc., 2nd Lien Term Loan, 6.25%, 12/27/20 | 1,435 | 1,442,175 | |
| Great Wolf Resorts, Inc., Term Loan B, 5.75%, 8/06/20 | 1,195 | 1,190,519 | |
| Hilton Worldwide Finance LLC, Term Loan B2, 3.50%, 10/26/20 | 4,201 | 4,162,271 | |
| Intrawest ULC, Term Loan, 5.50%, 12/09/20 | 1,608 | 1,612,883 | |
| La Quinta Intermediate Holdings LLC, Term Loan B, 4.00%, 4/14/21 | 8,246 | 8,209,299 | |
| Las Vegas Sands LLC, Term Loan B, 3.25%, 12/19/20 | 2,481 | 2,475,568 | |
| MGM Resorts International, Term Loan B, 3.50%, 12/20/19 | 3,456 | 3,401,753 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Hotels, Restaurants & Leisure (concluded) | |||
| Pinnacle Entertainment, Inc., Term Loan B2, 3.75%, 8/13/20 | USD | 1,706 | $ 1,689,715 |
| Playa Resorts Holding BV, Term Loan B, 4.00%, 8/06/19 | 1,082 | 1,070,025 | |
| RHP Hotel Properties LP, Term Loan B, 3.75%, 1/15/21 | 1,282 | 1,281,788 | |
| Sabre, Inc.: | |||
| Incremental Term Loan, 4.50%, 2/19/19 | 505 | 503,007 | |
| Term Loan B, 4.00%, 2/19/19 | 1,385 | 1,374,187 | |
| Scientific Games International, Inc., 2014 Term Loan B1, 4.25%, 10/18/20 | 1,534 | 1,511,558 | |
| Station Casinos LLC, Term Loan B, 4.25%, 3/02/20 | 5,036 | 4,994,809 | |
| Travelport Finance (Luxembourg) Sarl, 2014 Term Loan B, 6.00%, 9/02/21 | 3,345 | 3,353,965 | |
| Twin River Management Group, Inc., Term Loan B, 5.25%, 7/10/20 | 1,132 | 1,137,823 | |
| Wendy's International, Inc., Term Loan B, 3.25%, 5/15/19 | 1,630 | 1,618,852 | |
| 61,663,683 | |||
| Household Products — 1.1% | |||
| Bass Pro Group LLC, Term Loan, 3.75%, 11/20/19 | 2,748 | 2,730,908 | |
| Prestige Brands, Inc., Term Loan, 4.13%, 1/31/19 | 1,176 | 1,176,307 | |
| Spectrum Brands, Inc.: | |||
| Term Loan A, 3.00%, 9/04/17 | 793 | 789,349 | |
| Term Loan C, 3.50%, 9/04/19 | 1,462 | 1,453,283 | |
| 6,149,847 | |||
| Independent Power and Renewable Electricity Producers — 1.5% | |||
| Calpine Corp., Term Loan B1, 4.00%, 4/01/18 | 3,579 | 3,573,113 | |
| Granite Acquisition, Inc.: | |||
| Term Loan B, 5.00%, 10/15/21 | 3,115 | 3,129,963 | |
| Term Loan C, 5.00%, 10/15/21 | 137 | 137,718 | |
| Terra-Gen Finance Company, LLC, Term Loan B, 5.25%, 11/26/21 | 1,655 | 1,655,000 | |
| 8,495,794 | |||
| Industrial Conglomerates — 0.8% | |||
| Sequa Corp., Term Loan B, 5.25%, 6/19/17 | 4,512 | 4,399,652 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
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BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 8
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| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Insurance — 2.1% | |||
| Alliant Holdings I, Inc., Term Loan B, 4.25%, 12/20/19 | USD | 1,788 | $ 1,779,136 |
| CNO Financial Group, Inc.: | |||
| Term Loan B1, 3.00%, 9/28/16 | 1,080 | 1,073,704 | |
| Term Loan B2, 3.75%, 9/20/18 | 2,255 | 2,229,409 | |
| Cooper Gay Swett & Crawford of Delaware Holding Corp., 1st Lien Term Loan, 5.00%, 4/16/20 | 1,822 | 1,703,511 | |
| Onex York Acquisition Corp., Term Loan B, 4.75%, 10/01/21 | 1,915 | 1,905,397 | |
| Sedgwick Claims Management Services, Inc.: | |||
| 1st Lien Term Loan, 3.75%, 3/01/21 | 2,020 | 1,977,938 | |
| 2nd Lien Term Loan, 6.75%, 2/28/22 | 1,155 | 1,128,054 | |
| 11,797,149 | |||
| Internet Software & Services — 1.5% | |||
| Dealertrack Technologies, Inc., Term Loan B, 3.50%, 2/28/21 | 1,856 | 1,832,378 | |
| Go Daddy Operating Co. LLC, Term Loan B, 4.75%, 5/13/21 | 2,544 | 2,537,266 | |
| Interactive Data Corp., 2014 Term Loan, 4.50%, 5/02/21 | 2,524 | 2,534,400 | |
| W3 Co., 1st Lien Term Loan, 5.75%, 3/13/20 | 1,768 | 1,748,184 | |
| 8,652,228 | |||
| IT Services — 4.2% | |||
| Ceridian LLC, Term Loan B2, 4.50%, 5/09/17 | 2,230 | 2,210,956 | |
| First Data Corp.: | |||
| 2018 Extended Term Loan, 3.66%, 3/23/18 | 12,519 | 12,355,229 | |
| 2018 Term Loan, 3.66%, 9/24/18 | 1,150 | 1,133,946 | |
| Genpact International, Inc., Term Loan B, 3.50%, 8/30/19 | 1,851 | 1,850,896 | |
| InfoGroup, Inc., Term Loan, 7.50%, 5/26/18 | 1,015 | 940,134 | |
| SunGard Availability Services Capital, Inc., Term Loan B, 6.00%, 3/31/19 | 1,592 | 1,414,890 | |
| SunGard Data Systems, Inc.: | |||
| Term Loan C, 3.91%, 2/28/17 | 1,515 | 1,511,212 | |
| Term Loan E, 4.00%, 3/08/20 | 567 | 565,041 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| IT Services (concluded) | |||
| Vantiv, LLC, 2014 Term Loan B, 3.75%, 6/13/21 | USD | 2,020 | $ 2,006,060 |
| 23,988,364 | |||
| Leisure Products — 0.4% | |||
| Bauer Performance Sports Ltd., Term Loan B, 4.00%, 4/15/21 | 1,616 | 1,602,451 | |
| FGI Operating Co. LLC, Term Loan, 5.50%, 4/19/19 | 397 | 393,352 | |
| 1,995,803 | |||
| Machinery — 3.1% | |||
| Alliance Laundry Systems LLC: | |||
| 2nd Lien Term Loan, 9.50%, 12/10/19 | 573 | 572,011 | |
| Refinancing Term Loan, 4.25%, 12/10/18 | 1,549 | 1,540,644 | |
| Faenza Acquisition GmbH: | |||
| Term Loan B1, 4.25%, 8/30/20 | 1,173 | 1,169,566 | |
| Term Loan B3, 4.25%, 8/30/20 | 351 | 349,610 | |
| Gardner Denver, Inc., Term Loan, 4.25%, 7/30/20 | 1,548 | 1,508,543 | |
| Generac Power Systems, Inc., Term Loan B, 3.25%, 5/31/20 | 1,383 | 1,354,751 | |
| Intelligrated, Inc., 1st Lien Term Loan, 4.50% - 5.75%, 7/30/18 | 1,715 | 1,700,041 | |
| Mirror Bidco Corp., Term Loan, 4.25%, 12/28/19 | 1,937 | 1,919,285 | |
| Mueller Water Products, Inc., Term Loan B, 4.50%, 11/19/21 | 800 | 803,000 | |
| Navistar International Corp., Term Loan B, 5.75%, 8/17/17 | 904 | 911,121 | |
| Rexnord LLC, 1st Lien Term Loan B, 4.00%, 8/21/20 | 2,409 | 2,391,716 | |
| Silver II US Holdings LLC, Term Loan, 4.00%, 12/13/19 | 1,427 | 1,391,405 | |
| STS Operating, Inc., Term Loan, 4.75% - 6.00%, 2/12/21 | 687 | 686,550 | |
| Wabash National Corp., Term Loan B, 4.50%, 5/08/19 | 1,043 | 1,045,547 | |
| 17,343,790 | |||
| Media — 14.2% | |||
| Activision Blizzard, Inc., Term Loan B, 3.25%, 10/12/20 | 2,576 | 2,577,843 | |
| Advanstar Communications, Inc., 2nd Lien Term Loan, 9.50%, 6/06/20 | 1,125 | 1,130,625 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
Field: Page; Sequence: 10
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 9
Field: /Page
| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Media (continued) | |||
| Cengage Learning Acquisitions, Inc.: | |||
| 0.00%, 7/03/15 (a)(g) | USD | 2,489 | $ — |
| 7.00%, 3/31/20 | 5,651 | 5,649,773 | |
| Charter Communications Operating LLC: | |||
| Term Loan E, 3.00%, 7/01/20 | 2,010 | 1,981,308 | |
| Term Loan G, 4.25%, 9/12/21 | 4,100 | 4,126,568 | |
| Clear Channel Communications, Inc.: | |||
| Term Loan B, 3.81%, 1/29/16 | 705 | 697,414 | |
| Term Loan D, 6.91%, 1/30/19 | 6,875 | 6,459,483 | |
| Cumulus Media Holdings, Inc., 2013 Term Loan, 4.25%, 12/23/20 | 2,327 | 2,287,543 | |
| Getty Images, Inc., Term Loan B, 4.75%, 10/18/19 | 194 | 183,776 | |
| Gray Television, Inc., 2014 Term Loan B, 3.75%, 6/10/21 | 1,237 | 1,224,914 | |
| Hemisphere Media Holdings LLC, Term Loan B, 5.00%, 7/30/20 | 1,986 | 1,977,209 | |
| Hubbard Radio LLC, Term Loan B, 4.50%, 4/29/19 | 1,414 | 1,400,994 | |
| Intelsat Jackson Holdings SA, Term Loan B2, 3.75%, 6/30/19 | 4,313 | 4,285,721 | |
| Liberty Cablevision of Puerto Rico LLC, 2014 1st Lien Term Loan, 4.50%, 1/07/22 | 1,490 | 1,482,550 | |
| Lions Gate Entertainment Corp., 2nd Lien Term Loan, 5.00%, 7/17/20 | 645 | 650,644 | |
| Live Nation Entertainment, Inc., 2020 Term Loan B1, 3.50%, 8/17/20 | 495 | 491,495 | |
| MCC Iowa LLC: | |||
| Term Loan I, 2.63%, 6/30/17 | 1,077 | 1,063,834 | |
| Term Loan J, 3.75%, 6/30/21 | 524 | 515,995 | |
| Media General, Inc.: | |||
| Term Loan B2, 4.25%, 7/31/20 | 1,030 | 1,027,425 | |
| Delayed Draw Term Loan B, 4.25%, 7/31/20 | 1,673 | 1,675,463 | |
| Mediacom Communications Corp., Term Loan F, 2.63%, 3/31/18 | 1,114 | 1,084,456 | |
| Mediacom Illinois LLC, Term Loan G, 3.75%, 6/30/21 | 1,360 | 1,353,200 | |
| NEP/NCP Holdco, Inc., Incremental Term Loan, 4.25%, 1/22/20 | 2,285 | 2,252,414 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Media (concluded) | |||
| Numericable U.S. LLC: | |||
| Term Loan B1, 4.50%, 5/21/20 | USD | 2,236 | $ 2,236,612 |
| Term Loan B2, 4.50%, 5/21/20 | 1,934 | 1,934,973 | |
| Salem Communications Corp., Term Loan B, 4.50%, 3/13/20 | 1,643 | 1,620,080 | |
| SBA Senior Finance II LLC, Term Loan B1, 3.25%, 3/24/21 | 3,042 | 2,999,508 | |
| Sinclair Television Group, Inc., Term Loan B, 3.00%, 4/09/20 | 1,867 | 1,825,789 | |
| Tribune Co., 2013 Term Loan, 4.00%, 12/27/20 | 3,700 | 3,681,844 | |
| Univision Communications, Inc., Term Loan C4, 4.00%, 3/01/20 | 2,276 | 2,253,008 | |
| UPC Financing Partnership, Term Loan AG, 3.76%, 3/31/21 | EUR | 1,272 | 1,582,701 |
| Virgin Media Investment Holdings Ltd.: | |||
| Term Loan B, 3.50%, 6/07/20 | USD | 3,415 | 3,377,811 |
| Term Loan E, 4.25%, 6/30/23 | GBP | 2,840 | 4,417,802 |
| WideOpenWest Finance LLC, Term Loan B, 4.75%, 4/01/19 | USD | 2,214 | 2,207,561 |
| William Morris Endeavor Entertainment LLC: | |||
| 1st Lien Term Loan, 5.25%, 5/06/21 | 1,259 | 1,227,378 | |
| 2nd Lien Term Loan, 8.25%, 5/01/22 | 530 | 514,100 | |
| Ziggo Financing Partnership: | |||
| Term Loan B1, 3.25%, 1/15/22 | 1,879 | 1,847,999 | |
| Term Loan B2A, 3.50%, 1/15/22 | 1,219 | 1,198,615 | |
| Term Loan B3, 3.50%, 1/15/22 | 2,004 | 1,971,295 | |
| 80,477,723 | |||
| Metals & Mining — 1.2% | |||
| FMG Resources August 2006 Property Ltd., Term Loan B, 3.75%, 6/30/19 | 722 | 676,170 | |
| Novelis, Inc., Term Loan, 3.75%, 3/10/17 | 3,392 | 3,385,668 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
Field: Page; Sequence: 11
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 10
Field: /Page
| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Metals & Mining (concluded) | |||
| Windsor Financing LLC, Term Loan B, 6.25%, 12/05/17 | USD | 2,583 | $ 2,595,416 |
| 6,657,254 | |||
| Multiline Retail — 2.0% | |||
| 99¢ Only Stores, Term Loan, 4.50%, 1/11/19 | 1,964 | 1,960,293 | |
| BJ's Wholesale Club, Inc.: | |||
| 1st Lien Term Loan, 4.50%, 9/26/19 | 2,349 | 2,334,549 | |
| 2nd Lien Term Loan, 8.50%, 3/26/20 | 870 | 870,618 | |
| Hudson's Bay Co., 1st Lien Term Loan, 4.75% - 6.00%, 11/04/20 | 1,882 | 1,885,801 | |
| Neiman Marcus Group, Inc., 2020 Term Loan, 4.25%, 10/25/20 | 4,286 | 4,257,179 | |
| 11,308,440 | |||
| Oil, Gas & Consumable Fuels — 4.0% | |||
| American Energy - Marcellus LLC, 1st Lien Term Loan, 5.25%, 8/04/20 | 915 | 865,745 | |
| Arch Coal, Inc., Term Loan B, 6.25%, 5/16/18 | 1,872 | 1,647,140 | |
| Drillships Financing Holding, Inc., Term Loan B1, 6.00%, 3/31/21 | 3,244 | 2,984,471 | |
| Drillships Ocean Ventures, Inc., Term Loan B, 5.50%, 7/25/21 | 460 | 426,507 | |
| EP Energy LLC/Everest Acquisition Finance, Inc., Term Loan B3, 3.50%, 5/24/18 | 1,920 | 1,876,205 | |
| Fieldwood Energy LLC: | |||
| 1st Lien Term Loan, 3.88%, 9/28/18 | 1,357 | 1,297,287 | |
| 2nd Lien Term Loan, 8.38%, 9/30/20 | 590 | 534,198 | |
| Obsidian Natural Gas Trust, Term Loan, 7.00%, 11/02/15 | 708 | 700,987 | |
| Offshore Group Investment Ltd., Term Loan B, 5.75%, 3/28/19 | 111 | 89,602 | |
| Packers Holdings LLC, Term Loan B, 5.00%, 11/21/21 | 1,650 | 1,654,125 | |
| Panda Patriot LLC, Term Loan B1, 6.75%, 12/19/20 | 1,435 | 1,442,175 | |
| Panda Power Funds, Term Loan B1, 6.75%, 11/10/21 | 895 | 903,950 | |
| Panda Temple II Power LLC, Term Loan B, 7.25%, 4/03/19 | 1,560 | 1,571,700 | |
| Power Buyer LLC, 2nd Lien Term Loan, 8.25%, 11/06/20 | 470 | 455,900 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Oil, Gas & Consumable Fuels (concluded) | |||
| Samchully Midstream 3 LLC, Term Loan B, 5.75%, 10/20/21 | USD | 1,800 | $ 1,768,500 |
| Seventy Seven Operating LLC, Term Loan B, 3.75%, 6/25/21 | 267 | 257,351 | |
| Southcross Energy Partners LP, 1st Lien Term Loan, 5.25%, 8/04/21 | 1,172 | 1,174,993 | |
| Southcross Holdings Borrower LP, Term Loan B, 6.00%, 8/04/21 | 948 | 925,716 | |
| TPF II Power LLC, Term Loan B, 5.50%, 10/02/21 | 1,565 | 1,575,767 | |
| WTG Holdings III Corp., 1st Lien Term Loan, 4.75%, 1/15/21 | 600 | 596,709 | |
| 22,749,028 | |||
| Personal Products — 0.1% | |||
| Prestige Brands, Inc., Term Loan B2, 4.50%, 9/03/21 | 444 | 445,969 | |
| Pharmaceuticals — 6.0% | |||
| Akorn, Inc., Term Loan B, 4.50%, 4/16/21 | 2,490 | 2,492,067 | |
| Amneal Pharmaceuticals LLC, Term Loan, 4.75% - 6.00%, 4.75%, 11/01/19 | 1,223 | 1,219,597 | |
| CCC Information Services, Inc., Term Loan, 4.00%, 12/20/19 | 914 | 906,872 | |
| Endo Luxembourg Finance Co. I Sarl, 2014 Term Loan B, 3.25%, 2/28/21 | 1,572 | 1,549,823 | |
| Grifols Worldwide Operations USA, Inc., Term Loan B, 3.16%, 2/27/21 | 4,273 | 4,231,124 | |
| JLL/Delta Dutch Newco BV, Term Loan, 4.25%, 3/11/21 | 1,591 | 1,553,799 | |
| Mallinckrodt International Finance SA: | |||
| Incremental Term Loan B1, 3.50%, 3/19/21 | 1,440 | 1,430,698 | |
| Term Loan B, 3.50%, 3/19/21 | 2,313 | 2,292,046 | |
| Par Pharmaceutical Cos., Inc., Term Loan B2, 4.00%, 9/30/19 | 3,726 | 3,671,497 | |
| Pharmaceutical Product Development LLC, Term Loan B, 4.00%, 12/05/18 | 4,323 | 4,310,759 | |
| Quintiles Transnational Corp., Term Loan B3, 3.75%, 6/08/18 | 2,640 | 2,623,545 | |
| Salix Pharmaceuticals, Ltd., Term Loan, 4.25%, 1/02/20 | 2,050 | 2,022,735 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
Field: Page; Sequence: 12
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 11
Field: /Page
| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Pharmaceuticals (concluded) | |||
| Valeant Pharmaceuticals International, Inc., Term Loan B: | |||
| Series C2, 3.50%, 12/11/19 | USD | 2,303 | $ 2,285,596 |
| Series D2, 3.50%, 2/13/19 | 2,008 | 1,993,331 | |
| Series E, 3.50%, 8/05/20 | 1,436 | 1,426,286 | |
| 34,009,775 | |||
| Professional Services — 2.0% | |||
| Advantage Sales & Marketing, Inc.: | |||
| 2014 1st Lien Term Loan, 4.25%, 7/23/21 | 1,969 | 1,952,537 | |
| 2014 2nd Lien Term Loan, 7.50%, 7/25/22 | 1,580 | 1,568,150 | |
| Delayed Draw Term Loan, 4.25%, 7/23/21 | 66 | 65,085 | |
| Emdeon Business Services LLC, Term Loan B2, 3.75%, 11/02/18 | 3,236 | 3,216,273 | |
| Intertrust Group Holding BV, 2nd Lien Term Loan, 8.00%, 4/16/22 | 1,175 | 1,158,844 | |
| SIRVA Worldwide, Inc., Term Loan, 7.50%, 3/27/19 | 1,832 | 1,818,359 | |
| Truven Health Analytics, Inc., Term Loan B, 4.50%, 6/06/19 | 1,638 | 1,605,426 | |
| 11,384,674 | |||
| Real Estate Management & Development — 1.7% | |||
| CityCenter Holdings LLC, Term Loan B, 4.25%, 10/16/20 | 2,296 | 2,291,876 | |
| DTZ US Borrower LLC: | |||
| 1st Lien Term Loan, 5.50%, 11/04/21 | 1,351 | 1,355,871 | |
| Delayed Draw Term Loan, 5.50%, 11/04/21 | 806 | 808,840 | |
| Realogy Corp.: | |||
| Extended Letter of Credit, 4.40%, 10/10/16 | 115 | 112,728 | |
| Term Loan B, 3.75%, 3/05/20 | 5,198 | 5,176,777 | |
| 9,746,092 | |||
| Road & Rail — 0.8% | |||
| Hertz Corp., Term Loan B2, 3.00%, 3/11/18 | 1,451 | 1,416,122 | |
| Road Infrastructure Investment LLC: | |||
| 1st Lien Term Loan, 4.25%, 3/31/21 | 2,030 | 1,959,610 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Road & Rail (concluded) | |||
| Road Infrastructure Investment LLC (concluded): | |||
| 2nd Lien Term Loan, 7.75%, 9/21/21 | USD | 975 | $ 887,250 |
| 4,262,982 | |||
| Semiconductors & Semiconductor Equipment — 1.7% | |||
| Avago Technologies Cayman Ltd., Term Loan B, 3.75%, 5/06/21 | 5,142 | 5,139,542 | |
| Freescale Semiconductor, Inc.: | |||
| Term Loan B4, 4.25%, 2/28/20 | 2,338 | 2,316,588 | |
| Term Loan B5, 5.00%, 1/15/21 | 708 | 708,586 | |
| NXP BV, Term Loan D, 3.25%, 1/11/20 | 1,416 | 1,403,907 | |
| 9,568,623 | |||
| Software — 3.4% | |||
| Evertec Group LLC, Term Loan B, 3.50%, 4/17/20 | 1,057 | 1,037,257 | |
| GCA Services Group, Inc.: | |||
| 2nd Lien Term Loan, 9.25%, 10/22/20 | 780 | 778,050 | |
| Term Loan B, 4.25% - 5.50%, 11/01/19 | 1,741 | 1,728,371 | |
| Infor US, Inc.: | |||
| Term Loan B3, 3.75%, 6/03/20 | 848 | 834,600 | |
| Term Loan B5, 3.75%, 6/03/20 | 3,998 | 3,937,800 | |
| IQOR US, Inc., Term Loan B, 6.00%, 4/01/21 | 891 | 844,027 | |
| Kronos Worldwide, Inc., 2014 Term Loan, 4.75%, 2/18/20 | 507 | 507,450 | |
| Kronos, Inc., 2nd Lien Term Loan, 9.75%, 4/30/20 | 1,787 | 1,840,229 | |
| Mitchell International, Inc.: | |||
| 1st Lien Term Loan, 4.50%, 10/12/20 | 2,190 | 2,184,774 | |
| 2nd Lien Term Loan, 8.50%, 10/11/21 | 1,600 | 1,597,600 | |
| Regit Eins GmbH, 1st Lien Term Loan, 6.00%, 1/08/21 | 961 | 939,037 | |
| Sophia LP, 2014 Term Loan B, 4.00%, 7/19/18 | 2,802 | 2,785,349 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
Field: Page; Sequence: 13
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 12
Field: /Page
| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Software (concluded) | |||
| Tibco Software, Inc., Term Loan B, 6.50%, 11/04/20 | USD | 325 | $ 318,230 |
| 19,332,774 | |||
| Specialty Retail — 4.3% | |||
| Academy Ltd., Term Loan, 4.50%, 8/03/18 | 2,267 | 2,261,614 | |
| Equinox Holdings, Inc., Repriced Term Loan B, 4.50% - 5.50%, 4.50%, 1/31/20 | 1,320 | 1,310,750 | |
| General Nutrition Centers, Inc., Term Loan, 3.25%, 3/04/19 | 1,453 | 1,418,658 | |
| The Gymboree Corp., Initial Term Loan, 5.00%, 2/23/18 | 161 | 98,041 | |
| Jo-Ann Stores, Inc., Term Loan, 4.00%, 3/16/18 | 1,728 | 1,672,001 | |
| Leslie's Poolmart, Inc., New Term Loan, 4.25%, 10/16/19 | 2,371 | 2,330,645 | |
| Michaels Stores, Inc.: | |||
| Incremental 2014 Term Loan B2, 4.00%, 1/28/20 | 2,913 | 2,899,360 | |
| Term Loan B, 3.75%, 1/28/20 | 2,247 | 2,226,994 | |
| Party City Holdings, Inc., Term Loan, 4.00%, 7/27/19 | 4,147 | 4,100,506 | |
| Petco Animal Supplies, Inc., Term Loan, 4.00%, 11/24/17 | 3,361 | 3,341,605 | |
| Things Remembered, Inc., Term Loan B, 8.25%, 5/24/18 | 1,688 | 1,604,070 | |
| Toys 'R' Us-Delaware, Inc.: | |||
| Incremental Term Loan B2, 5.25%, 5/25/18 | 192 | 146,145 | |
| Term Loan B3, 5.25%, 5/25/18 | 40 | 30,245 | |
| Term Loan B4, 9.75%, 4/24/20 | 714 | 658,396 | |
| 24,099,030 | |||
| Textiles, Apparel & Luxury Goods — 2.1% | |||
| ABG Intermediate Holdings 2 LLC, 1st Lien Term Loan, 5.50%, 5/27/21 | 2,139 | 2,123,206 | |
| Ascend Performance Materials LLC, Term Loan B, 6.75%, 4/10/18 | 2,293 | 2,226,633 | |
| J. Crew Group, Inc., Term Loan B, 4.00%, 3/05/21 | 2,055 | 1,951,078 | |
| Kate Spade & Co., Term Loan B, 4.00%, 4/09/21 | 2,219 | 2,186,146 | |
| Nine West Holdings, Inc.: | |||
| Guarantee Term Loan, 6.25%, 1/08/20 | 810 | 742,162 | |
| Term Loan B, 4.75%, 10/08/19 | 948 | 909,720 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Floating Rate Loan Interests (c) | Par (000) | ||
|---|---|---|---|
| Textiles, Apparel & Luxury Goods (concluded) | |||
| Polymer Group, Inc., 1st Lien Term Loan, 5.25%, 12/19/19 | USD | 1,672 | $ 1,672,733 |
| 11,811,678 | |||
| Thrifts & Mortgage Finance — 0.3% | |||
| IG Investment Holdings LLC, 1st Lien Term Loan, 5.25%, 10/31/19 | 1,926 | 1,917,882 | |
| Wireless Telecommunication Services — 0.5% | |||
| LTS Buyer LLC, 1st Lien Term Loan, 4.00%, 4/13/20 | 2,656 | 2,620,965 | |
| Total Floating Rate Loan Interests — 132.0% | 747,486,386 | ||
| Non-Agency Mortgage-Backed Securities | |||
| Collateralized Mortgage Obligations — 0.3% | |||
| Hilton USA Trust, Series 2013-HLT, Class EFX, 5.22%, 11/05/30 (b)(c) | 1,336 | 1,371,827 | |
| Investment Companies | Shares | ||
| Capital Markets — 0.0% | |||
| Eaton Vance Floating-Rate Income Trust | 54 | 769 | |
| Eaton Vance Senior Income Trust | 13,945 | 88,690 | |
| Total Investment Companies — 0.0% | 89,459 | ||
| Other Interests (i) | Beneficial Interest (000) | ||
| Auto Components — 0.0% | |||
| Intermet Liquidating Trust, Class A | USD | 256 | 3 |
| Diversified Financial Services — 0.1% | |||
| JG Wentworth LLC Preferred Equity, (Acquired 11/18/13, cost $1,177,928) (a)(j)(k) | 17 | 163,497 | |
| Household Durables — 0.3% | |||
| Stanley Martin, Class B Membership Units (k) | 1 | 1,858,750 | |
| Total Other Interests — 0.4% | 2,022,250 |
MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation"
Field: Page; Sequence: 14
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 13
Field: /Page
| Consolidated Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation"
| Preferred Securities | Shares | |
|---|---|---|
| Preferred Stock — 0.0% | ||
| Diversified Financial Services — 0.0% | ||
| Ally Financial, Inc., Series A, 8.50% (c)(l) | 4,976 | $ 132,063 |
| Diversified Financial Services — 0.3% | ||
| GMAC Capital Trust I, Series 2, 8.13%, 2/15/40 (c) | 1,791,100 | 1,887,799 |
| Total Preferred Securities — 0.3% | 2,019,862 | |
| Warrants (m) | ||
| Chemicals — 0.0% | ||
| GEO Specialty Chemicals, Inc., (Expires 3/31/15) | 143,928 | 138,171 |
| Software — 0.0% | ||
| HMH Holdings/EduMedia (Issued/exercisable 3/09/10, 19 Shares for 1 Warrant, Expires 6/22/19, Strike Price $42.27) | 2,406 | 11,703 |
MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation"
| Total Warrants — 0.0% | $ 149,874 |
|---|---|
| Total Long-Term Investments (Cost — $825,188,518) — 143.9% | 814,803,898 |
| Options Purchased | |
| (Cost — $43,022) — 0.0% | _ |
| Total Investments (Cost — $825,231,540*) — 143.9% | 814,803,898 |
| Liabilities in Excess of Other Assets — (43.9)% | (248,440,539) |
| Net Assets — 100.0% | $ 566,363,359 |
| * | As of November 30, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows: |
| Tax cost | $ 827,531,202 |
| Gross unrealized appreciation | $ 7,684,380 |
| Gross unrealized depreciation | (20,411,684) |
| Net unrealized depreciation | $ (12,727,304) |
Field: Split-Segment; Name: NOTES
| Notes
to Schedule of Investments | |
| --- | --- |
| (a) | Non-income producing security. |
| (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) | Variable rate security. Rate shown is as of report date. |
| (d) | When-issued security. Unsettled when-issued transactions were as follows: |
| Counterparty — Bank of America Securities | $ 806,788 | $ 16,788 | |
|---|---|---|---|
| Credit Suisse Securities (USA) LLC | $ 1,128,125 | $ (60 | ) |
| Deutsche Bank Securities, Inc. | $ 971,600 | — | |
| Jefferies & Co. | $ 955,000 | — |
| (e) | Zero-coupon bond. |
|---|---|
| (f) | Convertible security. |
| (g) | Issuer filed for bankruptcy and/or is in default of principal and/or interest payments. |
| (h) | Represents a 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) | Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
| (j) | Restricted security as to resale. As of report date, the Fund held restricted securities with a current value of $162,639 and an original cost of $1,177,928 which was less than 0.05% of its net assets. |
| (k) | Security is held by a wholly owned subsidiary. |
| (l) | Security is perpetual in nature and has no stated maturity date. |
| (m) | Warrants entitle the Fund to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date, if any. |
Field: Page; Sequence: 15
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 14
Field: /Page
Consolidated Schedule of Investments (continued) BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
| Affiliate — BlackRock Liquidity Funds, TempFund, Institutional Class | Shares Held at August 31, 2014 — 3,456,864 | (3,456,864) | Shares Held at November 30, 2014 — _ | $ 62 |
|---|---|---|---|---|
| Portfolio
Abbreviations | |
| --- | --- |
| CAD | Canadian Dollar |
| CLO | Collateralized Loan Obligation |
| DIP | Debtor-In-Possession |
| EUR | Euro |
| GBP | British Pound |
| PIK | Payment-In-Kind. |
| USD | U.S. Dollar |
• Forward foreign currency exchange contracts outstanding as of November 30, 2014 were as follows:
| Currency Purchased — EUR | 419,000 | Currency Sold — USD | 521,995 | Counterparty — Citibank N.A. | Settlement Date — 1/21/15 | $ (821 | ) |
|---|---|---|---|---|---|---|---|
| GBP | 660,000 | USD | 1,060,105 | Deutsche Bank AG | 1/21/15 | (29,511 | ) |
| GBP | 27,000 | USD | 43,311 | UBS AG | 1/21/15 | (1,150 | ) |
| USD | 2,658,464 | CAD | 2,986,000 | Barclays Bank PLC | 1/21/15 | 50,236 | |
| USD | 2,313,116 | EUR | 1,813,000 | JPMorgan Chase Bank N.A. | 1/21/15 | 58,012 | |
| USD | 7,219,715 | GBP | 4,528,000 | Barclays Bank PLC | 1/21/15 | 149,212 | |
| Total | $ 225,978 |
Field: Page; Sequence: 16
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 15
Field: /Page
Consolidated Schedule of Investments (continued) BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
• OTC options purchased as of November 30, 2014 were as follows:
| Description | Counterparty | Put/ Call | Expiration Date | Contracts | |||
|---|---|---|---|---|---|---|---|
| Marsico Parent Superholdco LLC | Goldman Sachs & Co. | Call | USD | 942.86 | 12/14/19 | 44 | — |
| • | |
|---|---|
| • | Level 1 — unadjusted quoted prices in active markets/exchanges for identical assets or liabilities that the Fund 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 Fund's own assumptions used in determining the fair value of investments) |
| Changes in valuation techniques may result in transfers into or out of an | |
| assigned level within the disclosure hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value disclosure hierarchy | |
| are deemed to have occurred as of the beginning of the reporting period. For information about the Fund’s policy regarding valuation | |
| of investments and derivative financial instruments, please refer to the Fund’s most recent financial statements as contained | |
| in its annual report. The following table summarizes the Fund's investments categorized in the disclosure hierarchy as of November 30, 2014: |
| Assets: | ||||||
| Investments: | ||||||
| Long-Term Investments: | ||||||
| Common Stocks | $ 2,293,949 | $ 2,681,413 | $ | 894,472 | $ 5,869,834 | |
| Asset-Backed Securities | — | 14,823,085 | 5,034,763 | 19,857,848 | ||
| Corporate Bonds | — | 31,091,873 | 4,844,685 | 35,936,558 | ||
| Floating Rate Loan Interests | — | 681,996,307 | 65,490,079 | 747,486,386 | ||
| Non-Agency Mortgage-Backed Securities | — | 1,371,827 | — | 1,371,827 | ||
| Investment Companies | 89,459 | — | — | 89,459 | ||
| Other Interests | 163,497 | — | 1,858,753 | 2,022,250 | ||
| Preferred Securities | 2,019,862 | — | — | 2,019,862 | ||
| Warrants | — | — | 149,874 | 149,874 | ||
| Liabilities: | ||||||
| Unfunded Floating Rate Loan Interests | — | (1,035 | ) | — | (1,035 | ) |
| Total | $ 4,566,767 | $ 731,963,470 | $ | 78,272,626 | $ 814,802,863 |
Field: Page; Sequence: 17
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 16
Field: /Page
Consolidated Schedule of Investments (continued) BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
| Derivative Financial Instruments 1 | ||||||
| Assets: | ||||||
| Foreign currency exchange contracts | — | $ 257,460 | — | $ 257,460 | ||
| Liabilities: | ||||||
| Foreign currency exchange contracts | — | (31,482 | ) | — | (31,482 | ) |
| Total | — | $ 225,978 | — | $ 225,978 |
1 Derivative financial instruments are forward foreign currency exchange contracts, which are valued at the unrealized appreciation/depreciation on the instrument.
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of November 30, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
| Assets: | ||||||
| Foreign currency at value | $ 12,770 | — | — | $ 12,770 | ||
| Liabilities: | ||||||
| Bank overdraft | $ (2,829,532 | ) | — | (2,829,532 | ) | |
| Bank borrowings payable | — | (230,000,000 | ) | — | (230,000,000 | ) |
| Total | $ 12,770 | $ (232,829,532 | ) | — | $ (232,816,762 | ) |
There were no transfers between Level 1 and Level 2 during the period ended November 30, 2014.
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BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 17
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Consolidated Schedule of Investments (continued) BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
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 year in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:
| Common Stocks | Asset-Backed Securities | Corporate Bonds | Floating Rate Loan Interests | Other Interests | Unfunded Floating Rate Loan Interests (Liabilities) | Warrants | Total | |
|---|---|---|---|---|---|---|---|---|
| Assets: | ||||||||
| Opening Balance, as of August 31, 2014 | $ 1,510,942 | $ 1,159,180 | $ 4,766,957 | $ 58,688,498 | $ 1,858,753 | $ (374) | $ 138,171 | $ 68,122,127 |
| Transfers into Level 3 1 | _ | _ | _ | 24,908,024 | _ | _ | 11,191 | 24,919,215 |
| Transfers out of Level 3 2 | _ | (1,159,180) | _ | (22,615,174) | _ | _ | _ | (23,774,354) |
| Accrued discounts/ premiums | _ | 411 | 21,522 | 23,207 | _ | _ | _ | 45,140 |
| Net realized gain (loss) | _ | _ | _ | 13,983 | _ | _ | _ | 13,983 |
| Net | ||||||||
| change in unrealized appreciation/depreciation 3 | (616,470) | (11,388) | (29,548) | (689,572) | _ | 374 | 512 | (1,346,092) |
| Purchases | _ | 5,045,740 | 85,754 | 8,237,392 | _ | _ | 14,340,486 | |
| Sales | _ | _ | _ | (3,076,279) | _ | _ | _ | (3,076,279) |
| Closing Balance, as of November 30, 2014 | $ 894,472 | $ 5,034,763 | $ 4,844,685 | $ 65,490,079 | $ 1,858,753 | _ | $ 149,874 | $ 78,272,626 |
| Net change in | ||||||||
| unrealized appreciation/depreciation on investments still held at November 30, 2014 3 | $ (616,470) | $ (11,388) | $ (29,548) | $ (686,976) | _ | _ | $ 512 | $ (1,343,870) |
| 1 | As of August 31, 2014, the Fund used observable inputs in determining the value of certain investments. As of November 30, 2014, the Fund used significant unobservable inputs in determining the value of the same investments. As a result, investments with a beginning of period value of $24,534,012 transferred from Level 2 to Level 3 in the disclosure hierarchy. |
|---|---|
| 2 | As of August 31, 2014, the Fund used significant unobservable inputs in determining the value of certain investments. As of November 30, 2014, the Fund used observable inputs in determining the value of the same investments. As a result, investments with a beginning of period value of $23,774,354 transferred from Level 3 to Level 2 in the disclosure hierarchy. |
| 3 | Any difference between Net change in unrealized appreciation/depreciation and Net change in unrealized appreciation/depreciation on investments still held at November 30, 2014 is generally due to investments no longer held or categorized as Level 3 at period end. |
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Consolidated Schedule of Investments (concluded) BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
The following table summarizes the valuation techniques used and unobservable inputs utilized by the BlackRock Global Valuation Methodologies Committee (the "Global Valuation Committee") to determine the value of certain of the Fund's Level 3 investments as of November 30, 2014. The table does not include Level 3 investments with values based upon unadjusted third party pricing information in the amount of $68,920,778. A significant change in such third party pricing information could result in a significantly lower or higher value of such Level 3 investments.
| Value | Valuation Techniques | Unobservable Inputs | Range of Unobservable Inputs Utilized | |
|---|---|---|---|---|
| Assets: | ||||
| Common Stocks | $ 894,469 | Market Comparable Companies | Last 12 Months EBITDA Multiple 1 | 6.75x |
| Illiquidity Discount 2 | 17.50% | |||
| Last 12 Months EBITDA Multiple 3 | 5.13x - 5.88x | |||
| Current Fiscal Year EBITDA Multiple 3 | 4.63 - 6.25x | |||
| Discontinued Operations Expected Sale Proceeds 1 | $150 4 | |||
| Corporate Bonds | 3,928,902 | Market Comparable Companies | Last 12 Months EBITDA Multiple 1 | 6.75x |
| Illiquidity Discount 2 | 17.50% | |||
| 915,783 | Market Comparable Companies | Internal Rate of Return 2 | 9.50% | |
| Floating Rate Loan Interests | 1,604,070 | Market Comparable Yield Analysis | Yield 2 | 10.00% |
| Other Interests | 1,858,750 | Market Comparable Companies | Tangible Book Value Multiple 1 | 1.35x |
| Warrants | 138,171 | Market Comparable Companies | Last 12 Months EBITDA Multiple 1 | 6.75x |
| Illiquidity Discount 2 | 17.50% | |||
| 11,703 | Last Dealer Mark - Adjusted | Delta Adjustment Based on Daily Movement | ||
| in the Common Equity | 120.00% | |||
| Total | $ 9,351,848 |
1 For the period ended in November 30, 2014, the valuation technique for an investment classified as other interests changed to a market approach. The investment was previously valued using an income approach. Market information became available for this investment which is considered to be a more relevant measure of fair value for this investment.
2 Increase in unobservable input may result in a significant increase to value, while a decrease in the unobservable input may result in a significant decrease to value.
3 Decrease in unobservable input may result in a significant increase to value, while an increase in the unobservable input may result in a significant decrease to value.
4 Amount is stated in millions.
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BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. NOVEMBER 30, 2014 19
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Item 2 – Controls and Procedures
2(a) – The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the ″1940 Act″)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
2(b) – There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 3 – Exhibits
Certifications – Attached hereto
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BlackRock Floating Rate Income Strategies Fund, Inc.
| By: |
|---|
| John M. Perlowski |
| Chief Executive Officer (principal executive officer) of |
| BlackRock Floating Rate Income Strategies Fund, Inc. |
Date: January 22, 2015
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: |
|---|
| John M. Perlowski |
| Chief Executive Officer (principal executive officer) of |
| BlackRock Floating Rate Income Strategies Fund, Inc. |
Date: January 22, 2015
| By: |
|---|
| Neal J. Andrews |
| Chief Financial Officer (principal financial officer) of |
| BlackRock Floating Rate Income Strategies Fund, Inc. |
Date: January 22, 2015
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