Regulatory Filings • Sep 22, 2015
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Download Source FileN-Q 1 d23629dnq.htm BLACKROCK FLOATING RATE INCOME TRUST BLACKROCK FLOATING RATE INCOME TRUST
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: 811-21566
Name of Fund: BlackRock Floating Rate Income Trust (BGT)
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 Trust, 55 East 52 nd Street, New York, NY 10055
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 10/31/2015
Date of reporting period: 07/31/2015
Item 1 Schedule of Investments
Schedule of Investments July 31, 2015 (Unaudited) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Common Stocks | Value | ||
|---|---|---|---|
| Construction & Engineering 0.1% | |||
| USI United Subcontractors | 8,067 | $ 250,092 | |
| Diversified Consumer Services 0.4% | |||
| Cengage Thomson Learning | 19,588 | 541,941 | |
| Houghton Mifflin Harcourt Co. (a) | 32,847 | 858,292 | |
| 1,400,233 | |||
| Household Durables 0.0% | |||
| Berkline Benchcraft Equity LLC (a) | 6,155 | | |
| Total Common Stocks 0.5% | 1,650,325 | ||
| Asset-Backed Securities | Par (000) | ||
| ALM Loan Funding (b)(c): | |||
| Series 2012-5A, Class BR, 3.26%, 10/18/27 | USD | 560 | 556,192 |
| Series 2013-7R2A, Class B, 2.89%, 4/24/24 | 350 | 342,557 | |
| Series 2013-7RA, Class C, 3.74%, 4/24/24 | 630 | 614,442 | |
| Series 2013-7RA, Class D, 5.29%, 4/24/24 | 550 | 535,012 | |
| ALM XIV Ltd., Series 2014-14A, Class C, 3.74%, 7/28/26 (b)(c) | 713 | 688,891 | |
| ALM XVI Ltd./ALM XVI LLC, Series 2015-16A, Class B, 3.16%, 7/15/27 (b)(c) | 880 | 874,192 | |
| Apidos CDO XI, Series 2012-11A, Class D, 4.54%, 1/17/23 (b)(c) | 500 | 500,080 | |
| Atlas Senior Loan Fund Ltd., Series 2014-6A, Class D, 3.98%, 10/15/26 (b)(c) | 525 | 508,093 | |
| Atrium CDO Corp., Series 9A, Class D, 3.79%, 2/28/24 (b)(c) | 500 | 486,321 | |
| Benefit Street Partners CLO VII Ltd., Series 2015-VIIA, Class B, 3.23%, 7/18/27 (b)(c) | 405 | 398,520 | |
| Carlyle Global Market Strategies CLO Ltd. (b)(c): | |||
| Series 2012-4A, Class D, 4.79%, 1/20/25 | 450 | 450,392 | |
| Series 2013-1A, Class C, 4.31%, 2/14/25 | 250 | 249,340 | |
| Series 2014-5A, Class C, 4.44%, 10/16/25 | 1,250 | 1,251,419 | |
| Cent CLO 22 Ltd., Series 2014-22A, Class C, 4.06%, 11/07/26 (b)(c) | 750 | 734,100 | |
| Asset-Backed Securities | Par (000) | Value | |
| CIFC Funding 2014-II Ltd., Series 2014-2A, Class A3L, 3.13%, 5/24/26 (b)(c) | USD | 275 | $ 270,046 |
| LCM XVIII LP, Series 18A, Class INC, 0.00%, 4/20/27 (b)(c) | 1,500 | 1,320,000 | |
| Madison Park Funding XI Ltd., Series 2013-11A, Class D, 3.79%, 10/23/25 (b)(c) | 250 | 242,855 | |
| North End CLO Ltd., Series 2013-1A, Class D, 3.79%, 7/17/25 (b)(c) | 500 | 479,850 | |
| Octagon Investment Partners XVII Ltd., Series 2013-1A, Class D, 3.48%, 10/25/25 (b)(c) | 750 | 706,289 | |
| OZLM Funding Ltd. (b)(c): | |||
| Series 2012-1A, Class BR, 3.29%, 7/22/27 | 275 | 275,000 | |
| Series 2012-2A, Class C, 4.65%, 10/30/23 | 500 | 501,275 | |
| OZLM VIII Ltd., Series 2014-8A, Class B, 3.29%, 10/17/26 (b)(c) | 280 | 278,640 | |
| Sound Point CLO IV Ltd., Series 2013-3A, Class A, 1.65%, 1/21/26 (b)(c) | 390 | 388,377 | |
| Symphony CLO Ltd., Series 2012-9A, Class D, 4.54%, 4/16/22 (b)(c) | 775 | 776,606 | |
| Treman Park CLO LLC, Series 2015-1A, Class D, 4.12%, 4/20/27 (b)(c) | 700 | 687,750 | |
| Venture XXI CLO Ltd., Series 2015-21A, Class A, 1.77%, 7/15/27 (b)(c) | 400 | 399,600 | |
| Voya CLO Ltd., Series 2014-4A, Class SUB, 4.28%, 10/14/26 (c) | 1,000 | 813,612 | |
| 15,329,451 | |||
| Total Asset-Backed Securities 4.5% | 15,329,451 | ||
| Corporate Bonds | |||
| Airlines 0.6% | |||
| American Airlines Pass-Through Trust, Series 2013-2, Class C, 6.00%, 1/15/17 (c) | 592 | 610,646 |
BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015 1
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Corporate Bonds | Value | ||
|---|---|---|---|
| Airlines (concluded) | |||
| US Airways Pass-Through Trust, Series 2012-2, Class C, 5.45%, 6/03/18 | USD | 1,585 | $ 1,596,888 |
| 2,207,534 | |||
| Auto Components 0.1% | |||
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 3.50%, 3/15/17 | 410 | 414,305 | |
| Capital Markets 0.5% | |||
| Blackstone CQP Holdco LP, 9.30%, 3/18/19 | 595 | 594,892 | |
| E*Trade Financial Corp., 0.00%, 8/31/19 (c)(d)(e) | 439 | 1,207,887 | |
| 1,802,779 | |||
| Commercial Services & Supplies 0.2% | |||
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 3.03%, 12/01/17 (b) | 179 | 179,447 | |
| AWAS Aviation Capital Ltd., 7.00%, 10/17/16 (c) | 357 | 359,952 | |
| 539,399 | |||
| Communications Equipment 0.1% | |||
| Avaya, Inc., 7.00%, 4/01/19 (c) | 232 | 223,880 | |
| Containers & Packaging 0.2% | |||
| Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 3.29%, 12/15/19 | |||
| (b)(c) | 700 | 690,539 | |
| Diversified Telecommunication Services 0.3% | |||
| Level 3 Financing, Inc.: | |||
| 3.91%, 1/15/18 (b) | 607 | 613,070 | |
| 6.13%, 1/15/21 | 337 | 353,429 | |
| 966,499 | |||
| Energy Equipment & Services 0.1% | |||
| MEG Energy Corp., 7.00%, 3/31/24 (c) | 525 | 481,688 | |
| Health Care Equipment & Supplies 0.1% | |||
| DJO Finance LLC/DJO Finance Corp., 8.13%, 6/15/21 (c) | 190 | 195,225 | |
| Health Care Providers & Services 0.8% | |||
| Care UK Health & Social Care PLC, 5.58%, 7/15/19 (b) | GBP | 482 | 730,134 |
| Corporate Bonds | Par (000) | Value | |
| Health Care Providers & Services (concluded) | |||
| Tenet Healthcare Corp., 3.79%, 6/15/20 (b)(c) | USD | 1,845 | $ 1,898,044 |
| 2,628,178 | |||
| Household Durables 0.0% | |||
| Berkline/Benchcraft LLC, 4.50%, 11/03/15 (a)(f) | 400 | | |
| Media 0.5% | |||
| Altice Financing SA, 6.63%, 2/15/23 (c) | 335 | 345,050 | |
| Altice US Finance I Corp., 5.38%, 7/15/23 (c) | 745 | 748,725 | |
| Numericable Group SA, 6.00%, 5/15/22 (c) | 512 | 520,960 | |
| 1,614,735 | |||
| Metals & Mining 0.0% | |||
| Novelis, Inc., 8.38%, 12/15/17 | 155 | 160,425 | |
| Oil, Gas & Consumable Fuels 0.3% | |||
| California Resources Corp., 5.50%, 9/15/21 | 1,100 | 907,500 | |
| CONSOL Energy, Inc., 5.88%, 4/15/22 | 380 | 295,212 | |
| 1,202,712 | |||
| Pharmaceuticals 0.5% | |||
| Valeant Pharmaceuticals International, Inc. (c): | |||
| 5.38%, 3/15/20 | 860 | 883,650 | |
| 5.88%, 5/15/23 | 515 | 535,548 | |
| 6.13%, 4/15/25 | 285 | 297,825 | |
| 1,717,023 | |||
| Wireless Telecommunication Services 0.2% | |||
| Sprint Communications, Inc., 7.00%, 3/01/20 (c) | 730 | 777,450 | |
| Total Corporate Bonds 4.5% | 15,622,371 | ||
| Floating Rate Loan Interests (b) | |||
| Aerospace & Defense 1.3% | |||
| BE Aerospace, Inc., 2014 Term Loan B, 4.00%, 12/16/21 | 1,689 | 1,702,794 | |
| DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/20 | 1,134 | 1,133,906 | |
| TASC, Inc., 2nd Lien Term Loan, 12.00%, 5/30/21 | 725 | 744,938 |
2 BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Aerospace & Defense (concluded) | |||
| Transdigm, Inc.: | |||
| 2015 Term Loan E, 3.50%, 5/14/22 | USD | 507 | $ 504,195 |
| Term Loan D, 3.75%, 6/04/21 | 520 | 518,804 | |
| 4,604,637 | |||
| Air Freight & Logistics 0.4% | |||
| CEVA Group PLC, Synthetic LC, 6.50%, 3/19/21 | 423 | 387,335 | |
| CEVA Intercompany BV, Dutch Term Loan, 6.50%, 3/19/21 | 440 | 403,357 | |
| CEVA Logistics Canada ULC, Canadian Term Loan, 6.50%, 3/19/21 | 69 | 63,178 | |
| CEVA Logistics US Holdings, Inc., Term Loan, 6.50%, 3/19/21 | 607 | 556,355 | |
| 1,410,225 | |||
| Airlines 0.4% | |||
| Northwest Airlines, Inc.: | |||
| 2.25%, 3/10/17 | 316 | 308,890 | |
| 1.63%, 9/10/18 | 337 | 322,279 | |
| 1.64%, 9/10/18 | 170 | 163,094 | |
| US Airways Group, Inc., Term Loan B1, 3.50%, 5/23/19 | 686 | 684,113 | |
| 1,478,376 | |||
| Auto Components 3.3% | |||
| Autoparts Holdings Ltd.: | |||
| 1st Lien Term Loan, 7.00%, 7/29/17 | 1,506 | 1,440,922 | |
| 2nd Lien Term Loan, 11.00%, 1/29/18 | 546 | 502,320 | |
| Dayco Products LLC, Term Loan B, 5.25%, 12/12/19 | 958 | 959,072 | |
| FPC Holdings, Inc., 1st Lien Term Loan, 5.25%, 11/19/19 | 891 | 879,594 | |
| Gates Global, Inc., Term Loan B, 4.25%, 7/05/21 | 5,379 | 5,348,258 | |
| Goodyear Tire & Rubber Co., 2nd Lien Term Loan, 3.75%, 4/30/19 | 936 | 939,811 | |
| GPX International Tire Corp., Term Loan (a)(f): | |||
| PIK, 13.00%, 3/30/2012 | 4 | | |
| 12.25%, 3/31/2012 | 274 | | |
| INA Beteiligungsgesellschaft mbH, Term Loan B, 4.25%, 5/15/20 | 1,088 | 1,095,269 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Auto Components (concluded) | |||
| UCI International, Inc., Term Loan B, 5.50%, 7/26/17 | USD | 142 | $ 140,917 |
| 11,306,163 | |||
| Automobiles 0.4% | |||
| Chrysler Group LLC, Term Loan B: | |||
| 2018, 3.25%, 12/31/18 | 499 | 497,531 | |
| 3.50%, 5/24/17 | 856 | 855,899 | |
| 1,353,430 | |||
| Banks 0.3% | |||
| Redtop Acquisitions Ltd.: | |||
| 1st Lien Term Loan, 4.50%, 12/03/20 | 867 | 867,883 | |
| 2nd Lien Term Loan, 8.25%, 6/03/21 | 182 | 182,225 | |
| 1,050,108 | |||
| Building Products 3.9% | |||
| Continental Building Products LLC, 1st Lien Term Loan, 4.00%, 8/28/20 | 841 | 838,931 | |
| CPG International, Inc., Term Loan, 4.75%, 9/30/20 | 3,396 | 3,374,536 | |
| GYP Holdings III Corp., 1st Lien Term Loan, 4.75%, 4/01/21 | 884 | 867,241 | |
| Hanson Building Products Ltd., 1st Lien Term Loan, 6.50%, 2/18/22 | 409 | 409,337 | |
| Interline Brands, Inc., 2021 Term Loan, 4.00%, 3/17/21 | 592 | 591,134 | |
| Jeld-Wen, Inc., Term Loan B, 5.25%, 10/15/21 | 1,866 | 1,874,170 | |
| Ply Gem Industries, Inc., Term Loan, 4.00%, 2/01/21 | 612 | 606,636 | |
| Quikrete Holdings, Inc., 1st Lien Term Loan, 4.00%, 9/28/20 | 1,046 | 1,045,550 | |
| Universal Services of America LP: | |||
| 2015 2nd Lien Delayed Draw Term Loan, 9.00%, 7/13/23 | 24 | 24,063 | |
| 2015 2nd Lien Term Loan, 9.50%, 7/13/23 | 371 | 368,962 | |
| 2015 Delayed Draw Term Loan, 5.00%, 7/13/22 | 99 | 98,359 | |
| 2015 Term Loan, 4.75%, 7/13/22 | 1,403 | 1,394,914 | |
| Wilsonart LLC: | |||
| Incremental Term Loan B2, 4.00%, 10/31/19 | 507 | 505,058 |
BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015 3
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Building Products (concluded) | |||
| Wilsonart LLC (concluded): | |||
| Term Loan B, 4.00%, 10/31/19 | USD | 1,516 | $ 1,509,501 |
| 13,508,392 | |||
| Capital Markets 0.9% | |||
| Affinion Group, Inc., Term Loan B, 6.75%, 4/30/18 | 797 | 754,922 | |
| American Capital Holdings, Inc., 2017 Term Loan, 3.50%, 8/22/17 | 486 | 484,732 | |
| RPI Finance Trust, Term Loan B4, 3.50%, 11/09/20 | 2,032 | 2,034,926 | |
| 3,274,580 | |||
| Chemicals 4.4% | |||
| Allnex (Luxembourg) & Cy SCA, Term Loan B1, 4.50%, 10/03/19 | 587 | 586,980 | |
| Allnex USA, Inc., Term Loan B2, 4.50%, 10/03/19 | 305 | 304,555 | |
| Axalta Coating Systems US Holdings, Inc., Term Loan, 3.75%, 2/01/20 | 1,183 | 1,181,140 | |
| CeramTec Acquisition Corp., Term Loan B2, 4.25%, 8/30/20 | 71 | 70,796 | |
| Charter NEX US Holdings, Inc., Term Loan B, 5.25%, 2/07/22 | 720 | 728,100 | |
| Chemtura Corp., Term Loan B, 3.50%, 8/27/16 | 69 | 68,486 | |
| Chromaflo Technologies Corp.: | |||
| 1st Lien Term Loan, 4.50%, 12/02/19 | 145 | 142,400 | |
| 2nd Lien Term Loan, 8.25%, 6/02/20 | 295 | 277,289 | |
| Evergreen Acqco 1 LP, Term Loan, 5.00%, 7/09/19 | 904 | 847,949 | |
| INEOS US Finance LLC, 6 Year Term Loan, 3.75%, 5/04/18 | 429 | 428,574 | |
| Klockner-Pentaplast of America, Inc., Term Loan, 5.00%, 4/28/20 | 445 | 446,215 | |
| Kronos Worldwide, Inc., 2015 Term Loan, 4.00%, 2/18/20 | 306 | 304,212 | |
| MacDermid, Inc.: | |||
| 1st Lien Term Loan, 4.50%, 6/07/20 | 1,717 | 1,722,520 | |
| Term Loan B2, 4.75%, 6/07/20 | 457 | 458,718 | |
| Minerals Technologies Inc., 2015 Term Loan B, 3.75%, 5/09/21 | 937 | 941,043 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Chemicals (concluded) | |||
| Nexeo Solutions LLC, Term Loan B, 5.00%, 9/08/17 | USD | 842 | $ 830,983 |
| OXEA Finance LLC: | |||
| 2nd Lien Term Loan, 8.25%, 7/15/20 | 845 | 793,244 | |
| Term Loan B2, 4.25%, 1/15/20 | 1,405 | 1,368,980 | |
| Royal Holdings, Inc.: | |||
| 2015 1st Lien Term Loan, 4.50%, 6/19/22 | 695 | 697,175 | |
| 2015 2nd Lien Term Loan, 8.50%, 6/19/23 | 285 | 284,763 | |
| Solenis International LP: | |||
| 1st Lien Term Loan, 4.25%, 7/31/21 | 938 | 932,341 | |
| 2nd Lien Term Loan, 7.75%, 7/31/22 | 1,055 | 1,020,385 | |
| Tata Chemicals North America, Inc., Term Loan B, 3.75%, 8/07/20 | 338 | 337,150 | |
| The Chemours Company Co., Term Loan B, 3.75%, 5/22/22 | 517 | 496,370 | |
| 15,270,368 | |||
| Commercial Services & Supplies 6.6% | |||
| ADS Waste Holdings, Inc., Term Loan, 3.75%, 10/09/19 | 1,833 | 1,824,495 | |
| ARAMARK Corp.: | |||
| Term Loan E, 3.25%, 9/07/19 | 1,698 | 1,696,787 | |
| Term Loan F, 3.25%, 2/24/21 | 526 | 525,085 | |
| Asurion LLC, Term Loan B4, 5.00%, 7/22/22 | 790 | 789,257 | |
| Brand Energy & Infrastructure Services, Inc., Term Loan B, 4.75%, 11/26/20 | 2,290 | 2,190,044 | |
| Catalent Pharma Solutions, Inc., Term Loan B, 4.25%, 5/20/21 | 2,031 | 2,038,120 | |
| Connolly Corp.: | |||
| 1st Lien Term Loan, 4.50%, 5/14/21 | 1,841 | 1,846,079 | |
| 2nd Lien Term Loan, 8.00%, 5/14/22 | 900 | 904,500 | |
| Creative Artists Agency LLC, Term Loan B, 5.50%, 12/17/21 | 637 | 643,646 | |
| Dealer Tire LLC, Term Loan B, 5.50%, 12/22/21 | 547 | 550,670 | |
| KAR Auction Services, Inc., Term Loan B2, 3.50%, 3/11/21 | 818 | 818,007 | |
| Koosharem LLC, Exit Term Loan, 7.50%, 5/15/20 | 1,436 | 1,425,215 |
4 BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Commercial Services & Supplies (concluded) | |||
| Livingston International, Inc., 1st Lien Term Loan, 5.00%, 4/18/19 | USD | 804 | $ 789,537 |
| PSSI Holdings LLC, Term Loan B, 5.00%, 12/02/21 | 1,000 | 1,004,975 | |
| Spin Holdco, Inc., Term Loan B, 4.25%, 11/14/19 | 3,363 | 3,359,479 | |
| US Ecology, Inc., Term Loan, 3.75%, 6/17/21 | 501 | 502,121 | |
| Waste Industries USA, Inc., Term Loan B, 4.25%, 2/27/20 | 560 | 561,920 | |
| West Corp., Term Loan B10, 3.25%, 6/30/18 | 1,405 | 1,400,821 | |
| 22,870,758 | |||
| Communications Equipment 2.4% | |||
| Applied Systems, Inc.: | |||
| 1st Lien Term Loan, 4.25%, 1/25/21 | 869 | 869,710 | |
| 2nd Lien Term Loan, 7.50%, 1/24/22 | 230 | 230,504 | |
| Avaya, Inc., Term Loan B7, 6.25%, 5/29/20 | 1,730 | 1,642,832 | |
| CommScope, Inc., Term Loan B5, 3.75%, 12/29/22 | 560 | 560,700 | |
| Riverbed Technology, Inc., Term Loan B, 6.00%, 4/24/22 | 369 | 373,135 | |
| Telesat Canada, Term Loan A, 4.09%, 3/24/17 | CAD | 2,344 | 1,787,774 |
| Zayo Group LLC/Zayo Capital, Inc., Term Loan B, 3.75%, 5/06/21 | USD | 2,715 | 2,708,294 |
| 8,172,949 | |||
| Construction & Engineering 0.4% | |||
| AECOM Technology Corp., Term Loan B, 3.75%, 10/15/21 | 479 | 479,890 | |
| Centaur Acquisition LLC, 2nd Lien Term Loan, 8.75%, 2/20/20 | 745 | 751,832 | |
| 1,231,722 | |||
| Construction Materials 1.6% | |||
| Filtration Group Corp., 1st Lien Term Loan, 4.25%, 11/21/20 | 858 | 858,498 | |
| HD Supply, Inc., Term Loan B, 4.00%, 6/28/18 | 3,998 | 3,996,054 | |
| Headwaters, Inc., Term Loan B, 4.50%, 3/24/22 | 450 | 451,905 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Construction Materials (concluded) | |||
| McJunkin Red Man Corp., Term Loan, 5.00%, 11/08/19 | USD | 267 | $ 262,304 |
| 5,568,761 | |||
| Containers & Packaging 0.6% | |||
| Berry Plastics Holding Corp., Term Loan E, 3.75%, 1/06/21 | 763 | 762,024 | |
| BWAY Holding Co., Inc., Term Loan B, 5.50%, 8/14/20 | 911 | 913,077 | |
| Rexam PLC, 1st Lien Term Loan, 4.25%, 5/02/21 | 470 | 470,692 | |
| 2,145,793 | |||
| Distributors 0.6% | |||
| ABC Supply Co., Inc., Term Loan, 3.50%, 4/16/20 | 1,255 | 1,250,181 | |
| American Tire Distributors Holdings, Inc., 2015 Term Loan, 5.25%, 9/01/21 | 948 | 954,732 | |
| 2,204,913 | |||
| Diversified Consumer Services 2.8% | |||
| Allied Security Holdings LLC: | |||
| 1st Lien Term Loan, 4.25%, 2/12/21 | 1,744 | 1,739,982 | |
| 2nd Lien Term Loan, 8.00%, 8/13/21 | 864 | 863,040 | |
| Bright Horizons Family Solutions, Inc.: | |||
| Incremental Term Loan B1, 4.25%, 1/30/20 | 318 | 319,062 | |
| Term Loan B, 3.75%, 1/30/20 | 1,467 | 1,468,285 | |
| CT Technologies Intermediate Holdings, Inc., 1st Lien Term Loan, 5.25%, 12/01/21 | 463 | 464,239 | |
| Iglo Foods Midco Ltd., Term Loan C1, 3.75%, 7/05/20 | EUR | 606 | 666,060 |
| ROC Finance LLC, Term Loan, 5.00%, 6/20/19 | USD | 648 | 632,239 |
| ServiceMaster Co., 2014 Term Loan B, 4.25%, 7/01/21 | 3,250 | 3,253,821 | |
| Weight Watchers International, Inc., Term Loan B2, 4.00%, 4/02/20 | 259 | 134,976 | |
| 9,541,704 | |||
| Diversified Financial Services 3.9% | |||
| AlixPartners LLP, 2015 Term Loan B, 4.50%, 7/15/22 | 580 | 581,207 |
BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015 5
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Diversified Financial Services (concluded) | |||
| AssuredPartners Capital, Inc., 1st Lien Term Loan, 5.00%, 3/31/21 | USD | 1,625 | $ 1,624,546 |
| Diamond US Holding LLC, Term Loan B, 4.75%, 12/17/21 | 597 | 597,746 | |
| Jefferies Finance LLC, Term Loan, 4.50%, 5/01/20 | 1,700 | 1,691,500 | |
| Onex Wizard US Acquisition, Inc., Term Loan, 4.25%, 3/13/22 | 1,267 | 1,269,118 | |
| Reynolds Group Holdings, Inc., Dollar Term Loan, 4.50%, 12/01/18 | 3,899 | 3,919,154 | |
| SAM Finance Luxembourg Sarl, Term Loan, 4.25%, 12/17/20 | 1,118 | 1,120,362 | |
| SIG Euro Holdings AG & Co. KG, 2013 Term Loan, 4.50%, 12/02/18 | EUR | 878 | 965,583 |
| TransFirst, Inc.: | |||
| 2014 2nd Lien Term Loan, 9.00%, 11/12/22 | USD | 521 | 521,676 |
| Incremental Term Loan B, 4.75%, 11/12/21 | 1,102 | 1,103,546 | |
| 13,394,438 | |||
| Diversified Telecommunication Services 3.9% | |||
| Consolidated Communications, Inc., Term Loan B, 4.25%, 12/23/20 | 689 | 690,941 | |
| GCI Holdings, Inc., Term Loan B, 4.75%, 2/02/22 | 1,466 | 1,468,774 | |
| Hawaiian Telcom Communications, Inc., Term Loan B, 5.00%, 6/06/19 | 1,430 | 1,433,045 | |
| Integra Telecom, Inc.: | |||
| 2015 1st Lien Term Loan, 5.25%, 8/14/20 | 1,392 | 1,397,031 | |
| 2nd Lien Term Loan, 9.75%, 2/21/20 | 459 | 455,622 | |
| Level 3 Financing, Inc.: | |||
| 2013 Term Loan B, 4.00%, 1/15/20 | 4,685 | 4,695,260 | |
| 2019 Term Loan, 4.00%, 8/01/19 | 902 | 904,074 | |
| Virgin Media Investment Holdings Ltd., Term Loan F, 3.50%, 6/30/23 | 2,405 | 2,396,426 | |
| 13,441,173 | |||
| Electrical Equipment 0.7% | |||
| Southwire Co., Term Loan, 3.00%, 2/10/21 | 607 | 603,517 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Electrical Equipment (concluded) | |||
| Texas Competitive Electric Holdings Co. LLC: | |||
| DIP Term Loan, 3.75%, 5/05/16 | USD | 1,203 | $ 1,207,004 |
| Extended Term Loan, 4.67%, 10/10/17 (a)(f) | 1,050 | 535,500 | |
| 2,346,021 | |||
| Electronic Equipment, Instruments & Components 0.3% | |||
| CDW LLC, Term Loan, 3.25%, 4/29/20 | 997 | 993,026 | |
| Energy Equipment & Services 1.6% | |||
| Dynegy Holdings, Inc., Term Loan B2, 4.00%, 4/23/20 | 2,533 | 2,536,737 | |
| Exgen Texas Power LLC, Term Loan B, 5.75%, 9/16/21 | 209 | 203,658 | |
| MEG Energy Corp., Refinancing Term Loan, 3.75%, 3/31/20 | 2,939 | 2,862,670 | |
| 5,603,065 | |||
| Food & Staples Retailing 1.0% | |||
| New Albertsons, Inc., Term Loan, 4.75%, 6/27/21 | 893 | 894,929 | |
| Rite Aid Corp., 2nd Lien Term Loan, 5.75%, 8/21/20 | 540 | 544,725 | |
| Supervalu, Inc., Refinancing Term Loan B, 4.50%, 3/21/19 | 1,069 | 1,072,591 | |
| US Foods, Inc., Refinancing Term Loan, 4.50%, 3/31/19 | 1,025 | 1,026,903 | |
| 3,539,148 | |||
| Food Products 3.2% | |||
| CTI Foods Holding Co. LLC, 1st Lien Term Loan, 4.50%, 6/29/20 | 511 | 503,237 | |
| Diamond Foods, Inc., Term Loan, 4.25%, 8/20/18 | 1,808 | 1,809,491 | |
| Dole Food Co., Inc., Term Loan B, 4.50%, 11/01/18 | 1,548 | 1,551,053 | |
| Hearthside Group Holdings LLC, Term Loan, 4.50%, 6/02/21 | 1,312 | 1,315,029 | |
| New HB Acquisition LLC: | |||
| 1st Lien Term Loan, 4.50%, 7/17/22 | 1,015 | 1,017,111 | |
| 2nd Lien Term Loan, 8.50%, 7/28/23 | 210 | 210,525 | |
| Pabst Brewing Co., Inc., Term Loan, 5.75%, 10/21/21 | 1,157 | 1,158,991 |
6 BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Food Products (concluded) | |||
| Performance Food Group Co., 2nd Lien Term Loan, 6.25%, 11/14/19 | USD | 1,006 | $ 1,007,863 |
| Pinnacle Foods Finance LLC, Term Loan G, 3.00%, 4/29/20 | 995 | 991,567 | |
| Post Holdings Inc., Series A Incremental Term Loan, 3.75%, 6/02/21 | 2 | 1,565 | |
| Reddy Ice Corp.: | |||
| 1st Lien Term Loan, 6.75%, 5/01/19 | 982 | 864,413 | |
| 2nd Lien Term Loan, 10.75%, 11/01/19 | 725 | 554,625 | |
| 10,985,470 | |||
| Health Care Equipment & Supplies 3.9% | |||
| Alere, Inc., 2015 Term Loan B, 4.25%, 6/18/22 | 780 | 782,925 | |
| Auris Luxembourg III Sarl, Term Loan B4, 4.25%, 1/17/22 | 644 | 645,187 | |
| Capsugel Holdings US, Inc., Term Loan B, 3.50%, 8/01/18 | 943 | 941,483 | |
| DJO Finance LLC, 2015 Term Loan, 4.25%, 6/08/20 | 1,920 | 1,921,440 | |
| Iasis Healthcare LLC, Term Loan B2, 4.50%, 5/03/18 | 1,661 | 1,664,587 | |
| Immucor, Inc., Refinancing Term Loan B2, 5.00%, 8/17/18 | 1,695 | 1,697,258 | |
| Leonardo Acquisition Corp., Term Loan, 4.25%, 1/31/21 | 1,401 | 1,402,331 | |
| Millennium Health LLC, Term Loan B, 5.25%, 4/16/21 | 921 | 370,128 | |
| National Vision, Inc., 1st Lien Term Loan, 4.00%, 3/12/21 | 1,930 | 1,894,999 | |
| Ortho-Clinical Diagnostics, Inc., Term Loan B, 4.75%, 6/30/21 | 1,683 | 1,670,167 | |
| Sage Products Holdings III LLC, Refinancing Term Loan B2, 4.25%, 12/13/19 | 495 | 496,127 | |
| 13,486,632 | |||
| Health Care Providers & Services 8.2% | |||
| Acadia Healthcare Co., Inc., Term Loan B, 4.25%, 2/11/22 | 293 | 295,213 | |
| Air Medical Group Holdings, Inc., Term Loan B, 4.50%, 4/06/22 | 795 | 788,640 | |
| Amedisys, Inc., 2nd Lien Term Loan, 8.50%, 6/25/20 | 900 | 877,500 | |
| Amsurg Corp., 1st Lien Term Loan B, 3.75%, 7/16/21 | 1,784 | 1,786,462 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Health Care Providers & Services (concluded) | |||
| Ardent Medical Services, Inc., Term Loan, 7.50%, 7/02/18 | USD | 643 | $ 643,014 |
| Aspen Dental Management, Inc., 2015 Term Loan B, 5.50%, 4/30/22 | 525 | 530,906 | |
| CHG Healthcare Services, Inc., Term Loan, 4.25%, 11/19/19 | 1,535 | 1,536,441 | |
| Community Health Systems, Inc.: | |||
| Term Loan F, 3.53%, 12/31/18 | 983 | 985,265 | |
| Term Loan G, 3.75%, 12/31/19 | 1,487 | 1,488,825 | |
| Term Loan H, 4.00%, 1/27/21 | 2,737 | 2,746,925 | |
| Curo Health Services LLC, 2015 1st Lien Term Loan, 6.50%, 2/07/22 | 948 | 954,732 | |
| DaVita HealthCare Partners, Inc., Term Loan B, 3.50%, 6/24/21 | 5,876 | 5,882,995 | |
| Envision Healthcare Corp., Term Loan, 4.00%, 5/25/18 | 904 | 904,521 | |
| Genesis HealthCare Corp., Term Loan B, 10.00%, 12/04/17 | 527 | 536,195 | |
| HC Group Holdings III, Inc., Term Loan B, 6.00%, 4/07/22 | 449 | 453,066 | |
| HCA, Inc., Term Loan B5, 2.94%, 3/31/17 | 851 | 851,147 | |
| MPH Acquisition Holdings LLC, Term Loan, 3.75%, 3/31/21 | 1,180 | 1,170,098 | |
| National Mentor Holdings, Inc., Term Loan B, 4.25%, 1/31/21 | 762 | 762,033 | |
| Sterigenics-Nordion Holdings LLC, Term Loan B, 4.25%, 5/15/22 | 1,885 | 1,885,000 | |
| Surgery Center Holdings, Inc., 1st Lien Term Loan, 5.25%, 11/03/20 | 1,198 | 1,200,700 | |
| Surgical Care Affiliates, Inc., Term Loan B, 4.25%, 3/17/22 | 1,420 | 1,419,567 | |
| U.S. Renal Care, Inc., 2013 Term Loan, 4.25%, 7/03/19 | 532 | 532,291 | |
| 28,231,536 | |||
| Health Care Technology 1.0% | |||
| Emdeon Business Services LLC, Term Loan B3, 3.75%, 12/02/18 | 199 | 197,920 | |
| IMS Health, Inc., Term Loan, 3.50%, 3/17/21 | 1,985 | 1,978,047 |
BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015 7
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Health Care Technology (concluded) | |||
| MedAssets, Inc., Term Loan B, 4.00%, 12/13/19 | USD | 1,120 | $ 1,117,050 |
| 3,293,017 | |||
| Hotels, Restaurants & Leisure 11.1% | |||
| Amaya Holdings BV: | |||
| 1st Lien Term Loan, 5.00%, 8/01/21 | 506 | 504,991 | |
| 2nd Lien Term Loan, 8.00%, 8/01/22 | 3,285 | 3,314,565 | |
| Boyd Gaming Corp., Term Loan B, 4.00%, 8/14/20 | 1,408 | 1,412,881 | |
| Bronco Midstream Funding LLC, Term Loan B, 5.00%, 8/15/20 | 1,772 | 1,727,995 | |
| Burger King Newco Unlimited Liability Co., 2015 Term Loan B, 3.75%, 12/12/21 | 2,904 | 2,910,646 | |
| Caesars Entertainment Resort Properties LLC, Term Loan B, 7.00%, 10/11/20 | 3,653 | 3,411,102 | |
| CCM Merger, Inc., Term Loan B, 4.50%, 8/08/21 | 948 | 950,292 | |
| Diamond Resorts Corp., Term Loan, 5.50%, 5/09/21 | 1,088 | 1,091,432 | |
| Eldorado Resorts LLC, Term Loan B, 4.25%, 7/13/22 | 550 | 551,034 | |
| ESH Hospitality, Inc., Term Loan, 5.00%, 6/24/19 | 580 | 590,515 | |
| Hilton Worldwide Finance LLC, Term Loan B2, 3.50%, 10/26/20 | 1,617 | 1,618,293 | |
| Intrawest ULC, Term Loan, 4.75%, 12/09/20 | 773 | 777,733 | |
| La Quinta Intermediate Holdings LLC, Term Loan B, 4.00%, 4/14/21 | 4,801 | 4,806,886 | |
| Las Vegas Sands LLC, Term Loan B, 3.25%, 12/19/20 | 1,721 | 1,717,146 | |
| MGM Resorts International, Term Loan B, 3.50%, 12/20/19 | 2,143 | 2,133,601 | |
| Pinnacle Entertainment, Inc., Term Loan B2, 3.75%, 8/13/20 | 872 | 871,873 | |
| RHP Hotel Properties LP, Term Loan B, 3.50%, 1/15/21 | 782 | 783,320 | |
| Sabre, Inc.: | |||
| Incremental Term Loan, 4.00%, 2/19/19 | 305 | 305,717 | |
| Term Loan B, 4.00%, 2/19/19 | 1,406 | 1,409,435 | |
| Scientific Games International, Inc., 2014 Term Loan B1, 6.00%, 10/18/20 | 2,029 | 2,037,041 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Hotels, Restaurants & Leisure (concluded) | |||
| Station Casinos LLC, Term Loan B, 4.25%, 3/02/20 | USD | 3,216 | $ 3,221,335 |
| Travelport Finance (Luxembourg) Sarl, 2014 Term Loan B, 5.75%, 9/02/21 | 2,035 | 2,039,292 | |
| 38,187,125 | |||
| Household Durables 0.3% | |||
| Jarden Corp., 2015 Term Loan B2, 2.94%, 7/27/22 | 965 | 963,794 | |
| Household Products 1.1% | |||
| Bass Pro Group, LLC, 2015 Term Loan, 4.00%, 6/05/20 | 1,673 | 1,675,496 | |
| Spectrum Brands, Inc., Term Loan, 3.75%, 6/09/22 | 1,946 | 1,951,296 | |
| 3,626,792 | |||
| Independent Power and Renewable Electricity Producers 2.3% | |||
| Aria Energy Operating LLC, Term Loan, 5.00%, 5/12/22 | 895 | 897,238 | |
| Calpine Corp., Term Loan B5, 3.50%, 5/27/22 | 870 | 867,581 | |
| Energy Future Intermediate Holding Co. LLC, DIP Term Loan, 4.25%, 6/19/16 | 3,237 | 3,252,178 | |
| Granite Acquisition, Inc.: | |||
| Term Loan B, 5.00%, 12/19/21 | 1,893 | 1,899,182 | |
| Term Loan C, 5.00%, 12/19/21 | 84 | 83,984 | |
| Terra-Gen Finance Co. LLC, Term Loan B, 5.25%, 12/09/21 | 1,005 | 1,007,462 | |
| 8,007,625 | |||
| Industrial Conglomerates 0.2% | |||
| Sequa Corp., Term Loan B, 5.25%, 6/19/17 | 770 | 677,121 | |
| Insurance 1.7% | |||
| Alliant Holdings I, Inc., Term Loan B, 5.00%, 12/20/19 | 1,095 | 1,095,070 | |
| AmWINS Group LLC, 2014 2nd Lien Term Loan, 9.50%, 9/04/20 | 619 | 624,058 | |
| Cooper Gay Swett & Crawford of Delaware Holding Corp., 1st Lien Term Loan, 5.00%, 4/16/20 | 973 | 885,435 | |
| Sedgwick Claims Management Services, Inc.: | |||
| 1st Lien Term Loan, 3.75%, 3/01/21 | 1,160 | 1,148,709 |
8 BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Insurance (concluded) | |||
| Sedgwick Claims Management Services, Inc. (concluded): | |||
| 2nd Lien Term Loan, 6.75%, 2/28/22 | USD | 1,230 | $ 1,213,087 |
| York Risk Services Holding Corp., Term Loan B, 4.75%, 10/01/21 | 785 | 755,963 | |
| 5,722,322 | |||
| Internet Software & Services 1.9% | |||
| Dealertrack Technologies, Inc., Term Loan B, 3.50%, 2/28/21 | 1,163 | 1,160,431 | |
| Go Daddy Operating Co. LLC, Term Loan B, 4.25%, 5/13/21 | 1,559 | 1,565,097 | |
| Interactive Data Corp., 2014 Term Loan, 4.75%, 5/02/21 | 3,410 | 3,422,325 | |
| W3 Co., 2nd Lien Term Loan, 9.25%, 9/11/20 | 419 | 333,765 | |
| 6,481,618 | |||
| IT Services 4.0% | |||
| Blue Coat Holdings Inc., 2015 Term Loan, 4.50%, 5/20/22 | 1,295 | 1,295,544 | |
| Epicor Software Corp., 1st Lien Term Loan, 4.75%, 6/01/22 | 1,740 | 1,736,520 | |
| First Data Corp.: | |||
| 2018 Extended Term Loan, 3.69%, 3/24/18 | 7,645 | 7,620,934 | |
| 2018 Term Loan, 3.69%, 9/24/18 | 730 | 727,781 | |
| InfoGroup, Inc., Term Loan, 7.50%, 5/26/18 | 314 | 298,915 | |
| SunGard Data Systems, Inc.: | |||
| Term Loan C, 3.94%, 2/28/17 | 925 | 924,427 | |
| Term Loan E, 4.00%, 3/08/20 | 170 | 169,980 | |
| Vantiv LLC, 2014 Term Loan B, 3.75%, 6/13/21 | 1,046 | 1,049,496 | |
| 13,823,597 | |||
| Leisure Products 0.3% | |||
| Bauer Performance Sports Ltd., Term Loan B, 4.00%, 4/15/21 | 977 | 975,465 | |
| Machinery 2.5% | |||
| Alliance Laundry Systems LLC: | |||
| 2nd Lien Term Loan, 9.50%, 12/10/19 | 286 | 286,364 | |
| Refinancing Term Loan, 4.25%, 12/10/18 | 863 | 863,526 | |
| Allison Transmission, Inc., Term Loan B3, 3.50%, 8/23/19 | 733 | 735,119 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Machinery (concluded) | |||
| Faenza Acquisition GmbH: | |||
| Term Loan B1, 4.25%, 8/30/20 | USD | 695 | $ 697,771 |
| Term Loan B3, 4.25%, 8/30/20 | 209 | 210,075 | |
| Infiltrator Systems, Inc., 2015 Term Loan, 5.25%, 5/27/22 | 929 | 932,777 | |
| Mueller Water Products, Inc., Term Loan B, 4.00%, 11/25/21 | 498 | 498,744 | |
| Rexnord LLC, 1st Lien Term Loan B, 4.00%, 8/21/20 | 1,486 | 1,485,559 | |
| Silver II US Holdings LLC, Term Loan, 4.00%, 12/13/19 | 2,133 | 2,039,218 | |
| Wabash National Corp., 2015 Term Loan B, 4.25%, 3/16/22 | 696 | 695,756 | |
| 8,444,909 | |||
| Manufacture Goods 0.1% | |||
| KP Germany Erste GmbH, 1st Lien Term Loan, 5.00%, 4/22/20 | 190 | 190,690 | |
| Media 11.4% | |||
| Altice Financing SA, Term Loan: | |||
| Delayed Draw, 5.50%, 7/02/19 | 1,068 | 1,082,967 | |
| 5.25%, 2/04/22 | 425 | 428,719 | |
| Cengage Learning Acquisitions, Inc.: | |||
| 1st Lien Term Loan, 7.00%, 3/31/20 | 2,574 | 2,580,368 | |
| Term Loan, 0.00%, 7/03/2015 (a)(f) | 1,296 | | |
| Charter Communications Operating LLC: | |||
| Term Loan H, 3.25%, 7/21/22 | 650 | 649,818 | |
| Term Loan I, 3.50%, 1/20/23 | 3,970 | 3,978,694 | |
| Clear Channel Communications, Inc., Term Loan D, 6.94%, 1/30/19 | 3,932 | 3,608,017 | |
| Gray Television, Inc., 2014 Term Loan B, 3.75%, 6/10/21 | 677 | 677,900 | |
| Hemisphere Media Holdings LLC, Term Loan B, 5.00%, 7/30/20 | 1,021 | 1,016,144 | |
| Houghton Mifflin Harcourt Publishing Company, 2015 Term Loan B, 4.00%, 5/11/22 | 1,459 | 1,455,324 | |
| Intelsat Jackson Holdings SA, Term Loan B2, 3.75%, 6/30/19 | 1,207 | 1,192,790 |
BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015 9
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Media (concluded) | |||
| Liberty Cablevision of Puerto Rico LLC, 1st Lien Term Loan, 4.50%, 1/07/22 | USD | 840 | $ 822,503 |
| Live Nation Entertainment, Inc., 2020 Term Loan B1, 3.50%, 8/16/20 | 300 | 299,662 | |
| MCC Iowa LLC: | |||
| Term Loan I, 2.66%, 6/30/17 | 663 | 659,983 | |
| Term Loan J, 3.75%, 6/30/21 | 322 | 321,248 | |
| Media General, Inc., Term Loan B, 4.00%, 7/31/20 | 1,144 | 1,149,239 | |
| Mediacom Communications Corp., Term Loan F, 2.66%, 3/31/18 | 504 | 500,795 | |
| Numericable U.S. LLC: | |||
| Term Loan B1, 4.50%, 5/21/20 | 1,350 | 1,352,379 | |
| Term Loan B2, 4.50%, 5/21/20 | 1,168 | 1,169,993 | |
| SBA Senior Finance II LLC: | |||
| Incremental Term Loan B, 3.25%, 6/01/22 | 905 | 898,593 | |
| Term Loan B1, 3.25%, 3/24/21 | 1,812 | 1,799,815 | |
| Sinclair Television Group, Inc., Term Loan B, 3.00%, 4/09/20 | 122 | 121,643 | |
| Tribune Media Co., Term Loan, 3.75%, 12/27/20 | 2,245 | 2,248,091 | |
| TWCC Holding Corp., Extended Term Loan, 5.75%, 2/13/20 | 998 | 986,278 | |
| Univision Communications, Inc., Term Loan C4, 4.00%, 3/01/20 | 3,330 | 3,326,847 | |
| Virgin Media Investment Holdings Ltd., Term Loan E, 4.25%, 6/30/23 | GBP | 1,105 | 1,720,637 |
| WideOpenWest Finance LLC, 2015 Term Loan B, 4.50%, 4/01/19 | USD | 2,172 | 2,170,874 |
| Ziggo Financing Partnership: | |||
| Term Loan B1, 3.50%, 1/15/22 | 1,108 | 1,101,159 | |
| Term Loan B2A, 3.50%, 1/15/22 | 719 | 714,349 | |
| Term Loan B3, 3.50%, 1/15/22 | 1,182 | 1,174,848 | |
| 39,209,677 | |||
| Metals & Mining 1.1% | |||
| Ameriforge Group, Inc., 2nd Lien Term Loan, 8.75%, 12/19/20 | 265 | 198,087 | |
| Novelis, Inc., 2015 Term Loan B, 4.00%, 6/02/22 | 2,855 | 2,853,104 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Metals & Mining (concluded) | |||
| Windsor Financing LLC, Term Loan B, 6.25%, 12/05/17 | USD | 805 | $ 804,656 |
| 3,855,847 | |||
| Multiline Retail 1.6% | |||
| BJs Wholesale Club, Inc.: | |||
| 1st Lien Term Loan, 4.50%, 9/26/19 | 2,239 | 2,240,223 | |
| 2nd Lien Term Loan, 8.50%, 3/26/20 | 375 | 377,677 | |
| Dollar Tree, Inc., Term Loan B1, 3.50%, 7/06/22 | 1,229 | 1,231,014 | |
| The Neiman Marcus Group, Inc., 2020 Term Loan, 4.25%, 10/25/20 | 1,625 | 1,617,121 | |
| 5,466,035 | |||
| Oil, Gas & Consumable Fuels 3.5% | |||
| CITGO Holding Inc., 2015 Term Loan B, 9.50%, 5/12/18 | 1,234 | 1,237,662 | |
| Drillships Financing Holding, Inc., Term Loan B1, 6.00%, 3/31/21 | 1,355 | 1,048,111 | |
| EP Energy LLC/Everest Acquisition Finance, Inc., Term Loan B3, 3.50%, 5/24/18 | 1,170 | 1,144,412 | |
| Green Energy Partners/Stonewall LLC, Term Loan B1, 6.50%, 11/13/21 | 545 | 548,919 | |
| Obsidian Natural Gas Trust, Term Loan, 7.00%, 11/02/15 | 129 | 128,610 | |
| Offshore Group Investment Ltd., Term Loan B, 5.75%, 3/28/19 | 66 | 33,146 | |
| Panda Patriot LLC, Term Loan B1, 6.75%, 12/19/20 | 865 | 860,675 | |
| Power Buyer LLC, 2nd Lien Term Loan, 8.25%, 11/06/20 | 285 | 280,725 | |
| Samchully Midstream 3 LLC, Term Loan B, 5.75%, 10/20/21 | 1,095 | 1,078,082 | |
| Seventy Seven Operating LLC, Term Loan B, 3.75%, 6/25/21 | 161 | 141,941 | |
| Southcross Energy Partners LP, 1st Lien Term Loan, 5.25%, 8/04/21 | 1,213 | 1,204,468 | |
| Southcross Holdings Borrower LP, Term Loan B, 6.00%, 8/04/21 | 574 | 546,925 | |
| Stonewall Gas Gathering LLC, Term Loan B, 8.75%, 1/28/22 | 844 | 841,786 | |
| TPF II Power LLC, Term Loan B, 5.50%, 10/02/21 | 974 | 979,068 |
10 BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Oil, Gas & Consumable Fuels (concluded) | |||
| Veresen Midstream Limited Partnership, Term Loan B1, 4.53%, 3/31/22 | USD | 1,022 | $ 1,028,511 |
| WTG Holdings III Corp., 1st Lien Term Loan, 4.75%, 1/15/21 | 1,034 | 1,033,609 | |
| 12,136,650 | |||
| Personal Products 0.2% | |||
| Prestige Brands, Inc., Term Loan B3, 3.51%, 9/03/21 | 807 | 807,802 | |
| Pharmaceuticals 8.7% | |||
| Akorn, Inc., Term Loan B, 4.50%, 4/16/21 | 1,355 | 1,356,456 | |
| Amneal Pharmaceuticals LLC, Term Loan, 5.00%, 11/01/19 | 1,031 | 1,032,691 | |
| CCC Information Services, Inc., Term Loan, 4.00%, 12/20/19 | 507 | 503,674 | |
| Concordia Healthcare Corp., Term Loan B, 4.75%, 4/21/22 | 775 | 777,906 | |
| Endo Luxembourg Finance Co. I Sarl: | |||
| 2014 Term Loan B, 3.25%, 3/01/21 | 711 | 714,377 | |
| 2015 Term Loan B, 3.75%, 6/11/22 | 2,760 | 2,770,736 | |
| Bridge Term Loan, 3.25%, 6/11/16 | 3,190 | 3,190,000 | |
| Grifols Worldwide Operations USA, Inc., Term Loan B, 3.19%, 2/27/21 | 2,599 | 2,605,422 | |
| Horizon Pharma Holdings USA, Inc., Term Loan B, 4.50%, 4/22/21 | 1,361 | 1,366,596 | |
| JLL/Delta Dutch Newco BV, Term Loan, 4.25%, 3/11/21 | 2,139 | 2,129,626 | |
| Mallinckrodt International Finance SA: | |||
| Incremental Term Loan B1, 3.50%, 3/19/21 | 873 | 872,859 | |
| Term Loan B, 3.25%, 3/19/21 | 1,402 | 1,399,137 | |
| Par Pharmaceutical Cos., Inc., Term Loan B2, 4.00%, 9/30/19 | 2,258 | 2,255,579 | |
| Pharmaceutical Product Development LLC, Term Loan B, 4.00%, 12/05/18 | 2,917 | 2,913,941 | |
| Valeant Pharmaceuticals International, Inc.: | |||
| Series C2 Term Loan B, 3.50%, 12/11/19 | 975 | 976,125 | |
| Series D2 Term Loan B, 3.50%, 2/13/19 | 943 | 943,816 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Pharmaceuticals (concluded) | |||
| Valeant Pharmaceuticals International, Inc. (concluded): | |||
| Series E Term Loan B, 3.50%, 8/05/20 | USD | 1,158 | $ 1,158,154 |
| Term Loan B F1, 4.00%, 4/01/22 | 3,061 | 3,070,296 | |
| 30,037,391 | |||
| Professional Services 3.9% | |||
| Acosta Holdco, Inc.: | |||
| 2014 Term Loan, 4.25%, 9/26/21 | 831 | 829,438 | |
| 2015 Term Loan, 4.25%, 9/26/21 | 239 | 239,000 | |
| Advantage Sales & Marketing, Inc.: | |||
| 2014 1st Lien Term Loan, 4.25%, 7/23/21 | 1,305 | 1,297,682 | |
| 2014 2nd Lien Term Loan, 7.50%, 7/25/22 | 465 | 460,583 | |
| Emdeon Business Services LLC, Term Loan B2, 3.75%, 11/02/18 | 1,248 | 1,244,001 | |
| Intertrust Group Holding BV: | |||
| 2nd Lien Term Loan, 8.00%, 9/06/22 | 625 | 624,612 | |
| Term Loan B4, 4.24%, 4/16/21 | EUR | 988 | 1,087,877 |
| ON Assignment, Inc., 2015 Term Loan, 3.75%, 5/19/22 | USD | 822 | 823,252 |
| SIRVA Worldwide, Inc., Term Loan, 7.50%, 3/27/19 | 1,073 | 1,072,513 | |
| Sterling Infosystems, Inc., 1st Lien Term Loan B, 4.50%, 6/20/22 | 1,365 | 1,363,867 | |
| TransUnion LLC, Term Loan B2, 3.75%, 4/09/21 | 3,332 | 3,310,986 | |
| Truven Health Analytics, Inc., Term Loan B, 4.50%, 6/06/19 | 1,022 | 1,016,982 | |
| 13,370,793 | |||
| Real Estate Management & Development 1.6% | |||
| CityCenter Holdings LLC, Term Loan B, 4.25%, 10/16/20 | 1,396 | 1,398,624 | |
| DTZ US Borrower LLC, 1st Lien Term Loan, 5.50%, 11/04/21 | 1,310 | 1,305,380 | |
| Realogy Corp.: | |||
| Extended Letter of Credit, 0.03%, 10/10/16 | 109 | 107,778 |
BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015 11
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Real Estate Management & Development (concluded) | |||
| Realogy Corp. (concluded): | |||
| Term Loan B, 3.75%, 3/05/20 | USD | 2,862 | $ 2,865,688 |
| 5,677,470 | |||
| Road & Rail 1.4% | |||
| Coyote Logistics LLC, Term Loan, 6.25%, 3/26/22 | 750 | 750,000 | |
| PODS LLC, 1st Lien Term Loan, 5.25%, 2/02/22 | 648 | 651,617 | |
| Quality Distribution, Inc., 1st Lien Term Loan, 5.25%, 7/20/22 | 780 | 776,100 | |
| Road Infrastructure Investment LLC: | |||
| 1st Lien Term Loan, 4.25%, 3/31/21 | 1,229 | 1,204,849 | |
| 2nd Lien Term Loan, 7.75%, 9/21/21 | 600 | 561,000 | |
| The Hertz Corp., Term Loan B2, 3.00%, 3/11/18 | 881 | 879,516 | |
| 4,823,082 | |||
| Semiconductors & Semiconductor Equipment 1.8% | |||
| Avago Technologies Cayman Ltd., Term Loan B, 3.75%, 5/06/21 | 2,859 | 2,861,434 | |
| Freescale Semiconductor, Inc.: | |||
| Term Loan B4, 4.25%, 2/28/20 | 2,156 | 2,158,754 | |
| Term Loan B5, 5.00%, 1/15/21 | 427 | 429,054 | |
| NXP BV, Term Loan D, 3.25%, 1/11/20 | 855 | 852,852 | |
| 6,302,094 | |||
| Software 4.5% | |||
| GCA Services Group, Inc.: | |||
| 2nd Lien Term Loan, 9.25%, 10/22/20 | 400 | 398,000 | |
| Term Loan B, 4.25%, 11/01/19 | 1,033 | 1,027,045 | |
| Infor US, Inc., Term Loan B5, 3.75%, 6/03/20 | 2,229 | 2,211,695 | |
| Informatica Corp., Term Loan, 4.50%, 5/29/22 | 2,215 | 2,213,702 | |
| IQOR US, Inc., Term Loan B, 6.00%, 4/01/21 | 538 | 482,548 | |
| Kronos, Inc.: | |||
| 2nd Lien Term Loan, 9.75%, 4/30/20 | 1,088 | 1,121,043 | |
| Initial Incremental Term Loan, 4.50%, 10/30/19 | 896 | 896,033 | |
| Floating Rate Loan Interests (b) | Par (000) | Value | |
| Software (concluded) | |||
| Mitchell International, Inc.: | |||
| 1st Lien Term Loan, 4.50%, 10/12/20 | USD | 1,327 | $ 1,327,370 |
| 2nd Lien Term Loan, 8.50%, 10/11/21 | 1,000 | 996,500 | |
| Sophia LP, 2014 Term Loan B, 4.00%, 7/19/18 | 1,932 | 1,933,275 | |
| SS&C Technologies Inc.: | |||
| 2015 Term Loan B1, 4.00%, 7/08/22 | 2,216 | 2,231,518 | |
| 2015 Term Loan B2, 4.00%, 7/08/22 | 365 | 367,833 | |
| Tibco Software, Inc., Term Loan B, 6.50%, 12/04/20 | 195 | 194,707 | |
| 15,401,269 | |||
| Specialty Retail 4.3% | |||
| Academy Ltd., 2015 Term Loan B, 5.00%, 7/01/22 | 1,095 | 1,099,259 | |
| Equinox Holdings, Inc., Repriced Term Loan B, 5.00%, 1/31/20 | 798 | 803,954 | |
| General Nutrition Centers, Inc., Term Loan, 3.25%, 3/04/19 | 1,562 | 1,549,379 | |
| Leslies Poolmart, Inc., Term Loan, 4.25%, 10/16/19 | 1,215 | 1,215,062 | |
| Michaels Stores, Inc.: | |||
| Incremental 2014 Term Loan B2, 4.00%, 1/28/20 | 1,767 | 1,773,035 | |
| Term Loan B, 3.75%, 1/28/20 | 892 | 892,580 | |
| Party City Holdings, Inc., Term Loan, 4.00%, 7/27/19 | 2,603 | 2,600,097 | |
| Petco Animal Supplies, Inc., Term Loan, 4.00%, 11/24/17 | 1,814 | 1,814,779 | |
| PetSmart, Inc., Term Loan B, 4.25%, 3/11/22 | 2,229 | 2,236,390 | |
| Things Remembered, Inc., Term Loan B, 8.25%, 5/24/18 | 901 | 652,909 | |
| 14,637,444 | |||
| Technology Hardware, Storage & Peripherals 0.7% | |||
| Dell International LLC: | |||
| Term Loan B2, 4.00%, 4/29/20 | 866 | 865,176 | |
| Term Loan C, 3.75%, 10/29/18 | 925 | 924,950 |
12 BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Floating Rate Loan Interests (b) | Value | ||
|---|---|---|---|
| Technology Hardware, Storage & Peripherals (concluded) | |||
| Linxens France SA, Term Loan, 5.00%, 7/27/22 | USD | 480 | $ 478,800 |
| 2,268,926 | |||
| Textiles, Apparel & Luxury Goods 0.8% | |||
| ABG Intermediate Holdings 2 LLC, 1st Lien Term Loan, 5.50%, 5/27/21 | 465 | 464,185 | |
| Ascend Performance Materials LLC, Term Loan B, 6.75%, 4/10/18 | 1,391 | 1,193,898 | |
| Polymer Group, Inc., 1st Lien Term Loan, 5.25%, 12/19/19 | 1,012 | 1,017,687 | |
| 2,675,770 | |||
| Thrifts & Mortgage Finance 0.3% | |||
| IG Investment Holdings LLC, Term Loan B, 6.00%, 10/29/21 | 1,175 | 1,178,917 | |
| Transportation Infrastructure 0.2% | |||
| Penn Products Terminals LLC, Term Loan B, 4.75%, 4/13/22 | 693 | 698,217 | |
| Wireless Telecommunication Services 2.0% | |||
| Communications Sales & Leasing, Inc., Term Loan B, 5.00%, 10/24/22 | 595 | 576,222 | |
| Crown Castle Operating Co., Term Loan B2, 3.00%, 1/31/21 | 1,202 | 1,197,326 | |
| LTS Buyer LLC, 1st Lien Term Loan, 4.00%, 4/13/20 | 1,597 | 1,588,422 | |
| New Lightsquared LLC, Exit Term Loan, 9.75%, 6/15/20 | 3,500 | 3,403,750 | |
| 6,765,720 | |||
| Total Floating Rate Loan Interests 131.5% | 452,720,567 | ||
| Non-Agency Mortgage-Backed Securities 0.2% | |||
| Collateralized Mortgage Obligations 0.2% | |||
| Hilton USA Trust, Series 2013-HLT, Class EFX, 4.60%, 11/05/30 (b)(c) | 813 | 822,877 | |
| Investment Companies | Shares | Value | |
| Capital Markets 0.0% | |||
| Eaton Vance Floating-Rate Income Trust | 34 | $ 473 | |
| Eaton Vance Senior Income Trust | 8,925 | 55,603 | |
| Total Investment Companies 0.0% | 56,076 | ||
| Other Interests (g) | Beneficial Interest (000) | ||
| Auto Components 0.0% | |||
| Lear Corp. Escrow | USD | 500,000 | 4,375 |
| Construction Materials 0.1% | |||
| USI Senior Holdings | 8,067 | 169,417 | |
| Total Other Interests 0.1% | 173,792 | ||
| Warrants (h) | Shares | ||
| Chemicals 0.0% | |||
| British Vita Holdings Co. (Non-Expiring) | 166 | | |
| Software 0.0% | |||
| Bankruptcy Management Solutions, Inc.: | |||
| (Expires 07/01/18) | 181 | | |
| (Expires 07/01/19) | 195 | | |
| (Expires 07/01/20) | 292 | | |
| HMH Holdings/EduMedia (Issued/exercisable 3/09/10, 19 Shares for 1 Warrant, Expires 6/22/19, Strike | |||
| Price $42.27) | 1,501 | 17,871 | |
| 17,871 | |||
| Total Warrants 0.0% | 17,871 | ||
| Total Long-Term Investments (Cost $488,762,508) 141.3% | 486,393,330 | ||
| Short-Term Securities | |||
| BlackRock Liquidity Funds, TempFund, Institutional Class, 0.08% (i)(j) | 2,062 | $ 2,062 | |
| Total Short-Term Securities (Cost $2,062) 0.0% | 2,062 |
BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015 13
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)
| Options Purchased (Cost $25,422) 0.0% | Value — | |
|---|---|---|
| Total Investments (Cost | ||
| $488,789,992*) 141.3% | $ 486,395,392 | |
| Liabilities in Excess of Other Assets (41.3)% | (142,165,581 | ) |
| Net Assets 100.0% | $ 344,229,811 |
| Tax cost | $ | |
|---|---|---|
| Gross unrealized appreciation | $ 3,884,938 | |
| Gross unrealized depreciation | (7,372,186 | ) |
| Net unrealized depreciation | $ (3,487,248 | ) |
Notes to Schedule of Investments
(a) Non-income producing security.
(b) Variable rate security. Rate shown is as of report date.
(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) Zero-coupon bond.
(e) Convertible security.
(f) Issuer filed for bankruptcy and/or is in default of interest payments.
(g) Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.
(h) Warrants entitle the Trust 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 of the warrants, if any.
(i) During the period ended July 31, 2015, investments in issuers considered to be an affiliate of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliate — BlackRock Liquidity Funds, TempFund, Institutional Class | 2,630,534 | (2,628,472 | ) | 2,062 | Income — $ 287 |
|---|---|---|---|---|---|
(j) Represents the current yield as of report date.
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 |
For Trust compliance purposes, the Trusts industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment advisor. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
Forward Foreign Currency Contracts :
| Currency Purchased — USD | 1,498,553 | Currency Sold — CAD | 1,935,000 | Counterparty — Westpac Banking Corp. | 10/20/15 | Unrealized Appreciation (Depreciation) — $ 19,726 | |
|---|---|---|---|---|---|---|---|
| USD | 2,216,189 | EUR | 2,008,000 | UBS AG | 10/20/15 | 8,493 | |
| USD | 2,049,022 | GBP | 1,317,000 | HSBC Bank PLC | 10/20/15 | (6,599 | ) |
| Total | $ 21,620 |
14 BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT)
OTC Options Purchased:
| Description — Marsico Parent Superholdco LLC | Counterparty — Goldman Sachs & Co. | Call | USD 942.86 | 12/14/19 | 26 | |
|---|---|---|---|---|---|---|
Centrally Cleared Credit Default Swaps Sold Protection:
| Issuer | Clearinghouse | Expiration Date | Credit Rating 1 | Unrealized Appreciation | ||
|---|---|---|---|---|---|---|
| Dow Jones CDX North America High Yield Index, Series 24, Version 2 | 5.00 % | Chicago Merchantile Exchange | 6/20/20 | B | USD 1,782 | $ 9,803 |
| 1 Using Standard & Poors rating of the underlying securities of the index. | ||||||
| 2 The maximum | ||||||
| potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement. |
Fair Value Hierarchy as of July 31, 2015
Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure 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 Trusts own 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. The significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments are typically categorized as level 3.
Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trusts policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trusts policy regarding valuation of investments and derivative financial instruments, refer to the Trusts most recent financial statements as contained in its semi-annual report.
BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015 15
Schedule of Investments (continued) BlackRock Floating Rate Income Trust (BGT)
As of July 31, 2015, the following tables summarize the Trusts investments and derivative financial instruments categorized in the disclosure hierarchy:
| Level 1 | Level 2 | Total | ||||
|---|---|---|---|---|---|---|
| Assets: | ||||||
| Investments: | ||||||
| Long-Term Investments: | ||||||
| Asset-Backed Securities | | $ 9,604,247 | $ | 5,725,204 | $ 15,329,451 | |
| Common Stocks | $ 858,292 | 541,941 | 250,092 | 1,650,325 | ||
| Corporate Bonds | | 15,027,479 | 594,892 | 15,622,371 | ||
| Floating Rate Loan Interests | | 416,240,640 | 36,479,927 | 452,720,567 | ||
| Investment Companies | 56,076 | | | 56,076 | ||
| Non-Agency Mortgage-Backed Securities | | 822,877 | | 822,877 | ||
| Other Interests | | | 173,792 | 173,792 | ||
| Warrants | | | 17,871 | 17,871 | ||
| Short-Term Securities | 2,062 | | | 2,062 | ||
| Total | $ 916,430 | $ 442,237,184 | $ | 43,241,778 | $ 486,395,392 | |
| Level 1 | Level 2 | Level 3 | Total | |||
| Derivative Financial Instruments 1 | ||||||
| Assets: | ||||||
| Credit contracts | | $ 9,803 | | $ 9,803 | ||
| Foreign currency exchange contracts | | 28,219 | | 28,219 | ||
| Liabilities: | ||||||
| Foreign currency exchange contracts | | (6,599 | ) | | (6,599 | ) |
| Total | | $ 31,423 | | $ 31,423 | ||
| 1 Derivative | ||||||
| financial instruments are swaps and forward foreign currency exchange contracts. Swaps and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument. | ||||||
| The Trust may hold assets and/or | ||||||
| liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of July 31, 2015, such assets and/or liabilities are categorized within the disclosure hierarchy as follows: | ||||||
| Level 1 | Level 2 | Level 3 | Total | |||
| Assets: | ||||||
| Cash | $ 2,882,409 | | | $ 2,882,409 | ||
| Cash pledged for centrally cleared swaps | 100,000 | 100,000 | ||||
| Foreign currency at value | 17,289 | | | 17,289 | ||
| Liabilities: | ||||||
| Bank borrowings payable | | $ (126,000,000 | ) | | (126,000,000 | ) |
| Total | $ 2,999,698 | $ (126,000,000 | ) | | $ (123,000,302 | ) |
During the period ended July 31, 2015, there were no transfers between Level 1 and Level 2.
16 BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015
Schedule of Investments (concluded) BlackRock Floating Rate Income Trust (BGT)
A reconciliation of Level 3 investments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:
| | Asset-Backed Securities | Common Stocks | Corporate Bonds | | Floating Rate
Loan Interests | | Other Interests | Warrants | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Assets: | | | | | | | | | | | |
| Opening Balance, as of October 31, 2014 | $ 715,650 | $ 153,282 | $ 560,826 | | $ 37,080,633 | | $ 4,375 | $ 1,214 | $ | 38,515,980 | |
| Transfers into Level 3 1 | 466,391 | | | | 9,535,087 | | | 8,274 | | 10,009,752 | |
| Transfers out of Level 3 2 | | | | | (17,846,293 | ) | | | | (17,846,293 | ) |
| Accrued discounts/premiums | 8,423 | | (479 | ) | 41,289 | | | | | 49,233 | |
| Net realized gain (loss) | | | | | (1,917,361 | ) | | (4,686 | ) | (1,922,047 | ) |
| Net change in unrealized appreciation (depreciation) 3 | 51,105 | 96,810 | (5,074 | ) | 1,477,589 | | 169,417 | 16,434 | | 1,806,281 | |
| Purchases | 4,483,635 | | 39,619 | | 19,144,616 | | | | | 23,667,870 | |
| Sales | | | | | (11,035,633 | ) | | (3,365 | ) | (11,038,998 | ) |
| Closing Balance, end of period July 31, 2015 | $ 5,725,204 | $ 250,092 | $ 594,892 | | $ 36,479,927 | | $ 173,792 | $ 17,871 | $ | 43,241,778 | |
| Net change in unrealized appreciation (depreciation) on investments still held at July 31, 2015 3 | $ 51,105 | $ 96,810 | $ (5,074 | ) | $ (430,934 | ) | $ 169,417 | $ 9,597 | $ | (109,079 | ) |
| 1 As of
October 31, 2014, the Trust used observable inputs in determining the value of certain investments. As of July 31, 2015, the Trust used significant unobservable inputs in determining the value of the same investments. As a result,
investments with a beginning of period value of $10,009,752 transferred from Level 2 to Level 3 in the disclosure hierarchy. | | | | | | | | | | | |
| 2 As of
October 31, 2014, the Trust used significant unobservable inputs in determining the value of certain investments. As of July 31, 2015, the Trust used observable inputs in determining the value of the same investments. As a result,
investments with a beginning of period value of $17,846,293 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 July 31, 2015 is generally due to investments no longer held or categorized as Level 3 at period
end. | | | | | | | | | | | |
The Trusts 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.
BLACKROCK FLOATING RATE INCOME TRUST JULY 31, 2015 17
| Item 2 | | Controls and Procedures |
|---|---|---|
| 2(a) | The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants 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 registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially | |
| affected, or are reasonably likely to materially affect, the registrants 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 Trust
| By: |
|---|
| John M. Perlowski |
| Chief Executive Officer (principal executive officer) of |
| BlackRock Floating Rate Income Trust |
Date: September 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 Trust |
| Date: September 22, 2015 | |
|---|---|
| By: | /s/ Neal J. Andrews |
| Neal J. Andrews | |
| Chief Financial Officer (principal financial officer) of | |
| BlackRock Floating Rate Income Trust | |
| Date: September 22, 2015 |
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