March 31, 2026 
2026 Quarterly Report
(Unaudited)
 
BlackRock Floating Rate Income Trust (BGT)
 
Not FDIC Insured • May Lose Value • No Bank Guarantee
Schedule of Investments (unaudited)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
 
Security
 
Par
(000)
Value
Asset-Backed Securities
Bryant Park Funding Ltd., Series 2024-23A, Class D1, (3-
mo. CME Term SOFR + 3.85%), 7.50%, 05/15/37(a)(b)
$
1,000
$ 997,234
Sycamore Tree CLO Ltd., Series 2023-3A, Class D1R, (3-
mo. CME Term SOFR + 4.25%), 7.92%, 04/20/37(a)(b)
 
1,880
1,855,680
Symphony CLO Ltd., Series 2023-40A, Class D1R, (3-mo.
CME Term SOFR + 2.65%), 6.32%, 01/05/38(a)(b)
 
1,000
991,171
Total Asset-Backed Securities — 1.1%
(Cost: $3,880,000)
3,844,085
 
 
 
 
Shares
 
Common Stocks
Automobile Components — 0.0%
Lear Corp.
 
178
21,552
Entertainment — 0.1%
Learfield Communications LLC, (Acquired 09/06/23, Cost:
$22,770)(c)(d)(e)
 
1,812
202,944
Financial Services — 0.1%
Aimbridge Acquisition Co., Inc.(c)(d)
 
4,388
197,461
Ground Transportation — 0.0%
Sirva BGRS Holdings, Inc.(d)
 
902
576
Hotels, Restaurants & Leisure — 0.0%
Fortrex Equity(c)(d)
 
3,954
114,666
Household Products — 0.0%
Berkline Benchcraft Equity LLC(c)(d)
 
6,155
—
Industrial Conglomerates(d) — 0.0%
Ameriforge Group, Inc.(c)
 
832
—
SVP Singer
 
10,903
49,063
 
 
49,063
IT Services — 0.1%
Travelport LLC(c)(d)
 
166
170,929
Machinery — 0.0%
United Site Services, Inc.(c)(d)
 
17,672
128,122
Trading Companies & Distributors — 0.0%
TMK Hawk Midco Corp.(c)(d)
 
14,592
102,141
Transportation Infrastructure — 0.0%
Incora Top Holdco LLC(c)(d)
 
13,193
74,540
Wireless Telecommunication Services — 0.0%
Altice France Lux 3(d)
 
6,289
104,676
Total Common Stocks — 0.3%
(Cost: $2,382,602)
1,166,670
 
 
 
Par
(000)
 
Corporate Bonds
Chemicals(b) — 0.1%
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%,
07/01/28
$
7
7,006
WR Grace Holdings LLC, 5.63%, 08/15/29
 
409
376,165
 
 
383,171
Security
 
Par
(000)
Value
Construction & Engineering — 0.0%
Brand Industrial Services, Inc., 10.38%, 08/01/30(b)
$
154
$ 140,743
Diversified Telecommunication Services(b)(f) — 0.1%
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(g)
 
245
78,501
Zayo Group Holdings, Inc.
 
(5.75% Cash and 0.50% PIK), 9.25%, 03/09/30
 
27
26,259
(7.13% Cash and 1.88% PIK), 13.75%, 09/09/30
 
126
117,936
 
 
222,696
Electric Utilities — 0.0%
Texas Competitive Electric Holdings Co. LLC, 5.03%,
11/10/21(c)(g)
 
1,050
—
Entertainment — 0.1%
Odeon Finco PLC, 12.75%, 11/01/27(b)
 
374
384,969
Environmental, Maintenance & Security Service — 0.2%
Madison IAQ LLC, 5.88%, 06/30/29(b)
 
742
727,649
Food Products — 0.1%
Chobani Holdco II LLC, (8.75% in Cash or 9.50% in PIK),
8.75%, 10/01/29(b)(f)
 
319
339,066
Hotels, Restaurants & Leisure — 0.1%
Fertitta Entertainment LLC/Fertitta Entertainment Finance
Co., Inc., 6.75%, 01/15/30(b)
 
395
368,951
Household Durables — 0.0%
SWF Holdings I Corp., 6.50%, 10/06/29(b)
 
193
69,419
Household Products — 0.0%
Berkline Benchcraft LLC, (4.50% PIK), 4.50%,
06/01/22(a)(c)(f)(g)
 
400
—
Insurance — 0.1%
Alliant Holdings Intermediate LLC/Alliant Holdings Co-
Issuer, 6.75%, 10/15/27(b)
 
220
219,832
Interactive Media & Services — 1.0%
Beignet Investor LLC, 6.58%, 05/30/49(b)
 
3,187
3,275,777
Internet Software & Services(b) — 0.2%
Getty Images, Inc., 11.25%, 02/21/30
 
283
254,867
Uber Technologies, Inc., 4.50%, 08/15/29
 
235
233,009
 
 
487,876
Machinery — 0.2%
Vertiv Group Corp., 4.13%, 11/15/28(b)
 
556
547,536
Oil, Gas & Consumable Fuels — 0.1%
EG Global Finance PLC, 12.00%, 11/30/28(b)
 
285
304,936
Pharmaceuticals — 0.3%
1261229 B.C. Ltd., 10.00%, 04/15/32(b)
 
1,040
1,064,798
Software(b) — 0.1%
Central Parent LLC/CDK Global II LLC/CDK Financing Co.,
Inc., 8.00%, 06/15/29
 
118
87,696
Cloud Software Group, Inc., 9.00%, 09/30/29
 
379
365,611
 
 
453,307
Transportation Infrastructure — 0.0%
Incora Top Holdco LLC, 6.00%, 01/31/33(c)(g)
 
277
62,641
Total Corporate Bonds — 2.7%
(Cost: $9,209,996)
9,053,367
2
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Fixed Rate Loan Interests
Distributors — 0.0%
TMK Hawk Parent Corp., 2024 PIK Term Loan, 11.00%,
12/15/31(c)(f)
$
40
$ —
IT Services — 0.3%
Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%,
12/09/31
 
934
878,971
Software — 0.2%
Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31
 
715
665,083
Total Fixed Rate Loan Interests — 0.5%
(Cost: $1,689,251)
1,544,054
Floating Rate Loan Interests(a)
Advertising Agencies — 0.2%
Outfront Media Capital LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.68%,
09/24/32
 
532
532,335
Summer BC Holdco B SARL, 2024 USD Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 5.26%), 8.96%,
02/15/29
 
171
145,397
 
 
677,732
Aerospace & Defense — 3.8%
Arcline FM Holdings LLC, 2025 1st Lien Term Loan, (3-mo.
CME Term SOFR at 0.75% Floor + 2.75%), 6.45%,
06/23/30
 
595
594,981
Bleriot U.S. Bidco, Inc., 2023 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.20%, 10/31/30
 
752
752,758
Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-mo.
CME Term SOFR + 4.18%), 7.79%, 08/03/29
 
580
580,647
Cubic Corp.
 
2025 Second Out Term Loan B, (3-mo. CME Term SOFR
at 0.75% Floor + 4.25%), 8.18%, 05/25/29
 
2,142
425,512
2025 Second Out Term Loan C, (3-mo. CME Term SOFR
at 0.75% Floor + 1.26%), 4.93%, 05/25/29
 
311
61,756
Dynasty Acquisition Co., Inc.
 
2024 1st Lien Term Loan B1, (1-mo. CME Term SOFR at
0.00% Floor + 2.00%), 5.67%, 10/31/31
 
1,656
1,654,914
2024 1st Lien Term Loan B2, (1-mo. CME Term SOFR at
0.00% Floor + 2.00%), 5.67%, 10/31/31
 
628
627,219
Kaman Corp.
 
2025 Delayed Draw Term Loan, (3-mo. CME Term SOFR
at 0.50% Floor + 2.50%), 6.20%, 02/26/32
 
8
7,668
2025 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 2.50%), 6.20%, 02/26/32
 
414
414,125
Peraton Corp., Term Loan B, (3-mo. CME Term SOFR at
0.75% Floor + 3.85%), 7.52%, 02/01/28
 
1,179
1,004,062
Propulsion BC Finco SARL, 2025 Repriced Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 2.50%),
6.20%, 12/01/32
 
460
460,387
Setanta Aircraft Leasing DAC, 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.45%,
11/05/28
 
289
290,048
TransDigm, Inc.
 
2023 Term Loan J, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.17%, 02/28/31
 
2,816
2,815,651
2024 Term Loan L, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.17%, 01/19/32
 
575
575,056
Security
 
Par
(000)
Value
Aerospace & Defense (continued)
TransDigm, Inc. (continued)
 
2025 Term Loan K, (1-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.92%, 03/22/30
$
72
$ 71,693
2025 Term Loan M, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.17%, 08/19/32
 
2,172
2,171,564
2026 Term Loan N, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.17%, 02/13/33
 
396
396,075
 
 
12,904,116
Automobile Components — 2.1%
Allison Transmission, Inc., 2025 Incremental Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 01/02/33
 
742
743,855
Clarios Global LP
 
2024 USD Term Loan B, (1-mo. CME Term SOFR +
2.50%), 6.17%, 05/06/30
 
2,598
2,587,112
2025 USD Term Loan B, (1-mo. CME Term SOFR at
0.00% Floor + 2.75%), 6.42%, 01/28/32
 
1,018
1,014,323
Garrett LX I SARL, 2025 USD Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 2.00%), 5.67%, 01/30/32
 
65
65,049
Gates Corp.
 
2022 Term Loan B4, (1-mo. CME Term SOFR + 1.75%),
5.42%, 11/16/29
 
214
213,276
2024 Term Loan B5, (1-mo. CME Term SOFR + 1.75%),
5.42%, 06/04/31
 
1,204
1,202,285
RealTruck Group, Inc.
 
2021 Term Loan B, (3-mo. CME Term SOFR + 4.01%),
7.68%, 01/31/28
 
149
100,162
2023 Incremental Term Loan, (3-mo. CME Term SOFR +
5.26%), 8.93%, 01/31/28
 
344
234,605
Tenneco, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR
+ 5.10%), 8.76%, 11/17/28
 
971
945,006
 
 
7,105,673
Automobiles — 0.4%
Dealer Tire Financial LLC, 2024 Term Loan B4, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%, 07/02/31
 
1,223
1,216,832
Beverages — 0.5%
Naked Juice LLC
 
2025 FLFO Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 5.50%), 9.20%, 01/24/29
 
957
949,618
2025 FLSO Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.35%), 7.05%, 01/24/29
 
360
189,912
2025 FLTO Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 6.00%), 9.80%, 01/24/30
 
419
86,637
Sazerac Co., Inc., Repriced Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 5.67%, 07/09/32
 
348
347,169
 
 
1,573,336
Biotechnology — 0.8%
BioMarin Pharmaceutical, Inc., Term Loan B, 01/28/33(h)
 
593
591,150
Parexel International Corp., 2025 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.42%, 12/12/31
 
2,233
2,223,247
 
 
2,814,397
Schedule of Investments
3
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Broadline Retail — 0.6%
Boots Group Finco LP, USD Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 6.92%, 08/30/32
$
843
$ 844,995
StubHub Holdco Sub LLC, 2024 Extended Term Loan B,
(1-mo. CME Term SOFR + 4.75%), 8.42%, 03/15/30
 
1,354
1,329,980
 
 
2,174,975
Building Materials — 0.3%
CP Iris HoldCo I, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 4.00%), 7.67%, 10/27/32
 
1,102
1,091,476
Building Products — 4.4%
AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR + 1.75%),
5.42%, 05/13/29
 
61
60,919
Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.42%, 09/08/32
 
2,128
2,106,288
CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 5.25%), 8.92%, 07/08/30
 
849
778,010
EMRLD Borrower LP
 
2024 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.95%, 08/04/31
 
1,237
1,234,162
Term Loan B, (3-mo. CME Term SOFR at 0.00% Floor +
2.25%), 5.92%, 05/31/30
 
1,961
1,957,236
Gibraltar Industries, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.92%, 02/02/33(c)
 
451
447,952
Gulfside Supply, Inc., Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.70%, 06/17/31
 
619
564,428
New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 6.00%), 9.67%, 03/08/29
 
307
251,812
Quikrete Holdings, Inc.
 
2024 Term Loan B2, (1-mo. CME Term SOFR + 2.25%),
5.92%, 03/19/29
 
720
719,477
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.92%, 02/10/32
 
1,526
1,521,776
QXO Building Products, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
04/30/32
 
682
679,751
Standard Industries, Inc., 2021 Term Loan B, (1-mo. CME
Term SOFR + 1.75%), 5.42%, 09/22/28
 
312
311,116
White Cap Supply Holdings LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 6.92%,
10/19/29
 
2,511
2,409,233
Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 4.25%), 7.95%, 08/05/31
 
2,153
1,867,661
Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR +
2.11%), 5.78%, 10/04/28
 
68
68,381
 
 
14,978,202
Capital Markets — 5.2%
Allspring Buyer LLC, 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.75%, 11/01/30
 
437
436,799
Ardonagh Group Finco Pty. Ltd., 2024 USD Term Loan B,
(6-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.37%, 02/15/31
 
1,768
1,724,406
Aretec Group, Inc., 2025 Repriced Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%, 08/09/30
 
603
594,885
Ascensus Holdings, Inc., 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%, 11/25/32
 
920
904,185
Axalta Coating Systems U.S. Holdings, Inc., 2024 Term
Loan B7, (3-mo. CME Term SOFR at 0.50% Floor +
1.75%), 5.45%, 12/20/29
 
643
643,265
BCPE Pequod Buyer, Inc., USD Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.42%, 11/25/31
 
1,021
989,428
Security
 
Par
(000)
Value
Capital Markets (continued)
Chicago U.S. Midco III LP, Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.17%, 11/01/32
$
1,206
$ 1,192,078
Citadel Securities LP, 2024 First Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.70%,
10/31/31
 
1,397
1,397,981
Edelman Financial Engines Center LLC, 2024 Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 3.00%),
6.67%, 04/07/28
 
891
889,538
Focus Financial Partners LLC, 2025 Incremental Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 09/15/31
 
2,131
2,059,588
GTCR Everest Borrower, LLC, 2026 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.20%,
09/05/31
 
341
337,722
Hudson River Trading LLC, 2026 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.18%, 03/18/30
 
1,700
1,691,321
Jane Street Group LLC, 2024 Term Loan B1, (3-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 12/15/31
 
3,209
3,147,004
Jupiter Borrower, Inc., Term Loan B, 03/25/33(c)(h)
 
435
433,913
Osaic Holdings, Inc., 2026 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.20%, 07/30/32
 
1,337
1,310,768
 
 
17,752,881
Chemicals — 4.3%
Chemours Co., 2025 USD Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.50%), 7.17%, 10/15/32
 
1,649
1,634,781
Derby Buyer LLC, 2024 Repriced Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 3.00%), 6.68%, 11/01/30
 
1,220
1,217,221
Discovery Purchaser Corp., Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 3.75%), 7.42%, 10/04/29
 
835
820,127
Ecovyst Catalyst Technologies LLC, 2024 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
5.67%, 06/12/31
 
457
456,319
Element Solutions, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%, 12/18/30
 
1,288
1,287,891
Fortis 333, Inc., USD Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 3.50%), 7.17%, 03/29/32
 
624
604,697
HB Fuller Co., 2025 Term Loan B, (1-mo. CME Term SOFR
at 0.50% Floor + 1.86%), 5.53%, 02/15/30
 
175
175,423
INEOS U.S. Petrochem LLC, 2024 USD Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 4.25%), 7.92%,
10/07/31
 
174
122,462
Lonza Group AG, USD Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.03%), 7.72%, 07/03/28
 
838
729,598
Minerals Technologies, Inc., 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 11/26/31(c)
 
584
584,267
Olympus Water U.S. Holding Corp.
 
2024 USD Term Loan, (3-mo. CME Term SOFR at 0.50%
Floor + 3.00%), 6.70%, 06/20/31
 
1,643
1,574,145
2025 USD Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 6.95%, 11/03/32
 
1,128
1,084,636
Oxea Corp., 2017 USD Term Loan B2, (3-mo. CME Term
SOFR at 0.00% Floor + 4.85%), 8.50%, 04/08/31
 
987
676,164
Paint Intermediate III LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%, 10/09/31
 
343
341,475
Solstice Advanced Materials, Inc., Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
10/29/32
 
607
609,531
4
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Chemicals (continued)
Sparta U.S. HoldCo LLC, 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.75% Floor + 3.00%), 6.67%, 08/02/30
$
1,441
$ 1,438,870
WR Grace Holdings LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 3.00%), 6.70%, 08/19/32
 
1,113
1,107,986
 
 
14,465,593
Commercial Services & Supplies — 4.3%
Action Environmental Group, Inc., 2023 Term Loan B, (3-
mo. CME Term SOFR + 3.00%), 6.69%, 10/24/30
 
558
555,690
Allied Universal Holdco LLC, 2025 USD Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 3.25%), 6.92%,
08/20/32
 
3,117
3,115,228
Anticimex International AB, 2025 USD Term Loan, (3-mo.
SOFR + 2.90%), 6.56%, 11/17/31
 
427
427,505
Aramark Services, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.42%, 06/22/30
 
700
699,984
Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.85%), 5.52%, 09/07/27
 
1,243
1,243,669
Citrin Cooperman Advisors LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.70%,
04/01/32
 
1,006
964,988
Clean Harbors, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 1.50%), 5.17%, 10/08/32
 
390
392,363
Grant Thornton Advisors LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.42%,
06/02/31
 
1,047
972,804
Innio Group Holding GmbH, 2026 USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.66%,
11/02/31
 
957
947,311
LABL, Inc., 2026 USD Interim New Money DIP Term Loan,
(3-mo. CME Term SOFR at 0.50% Floor + 6.75%),
10.38%, 12/02/26
 
71
70,501
Novelis Holdings, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.45%, 03/11/32
 
1,543
1,542,762
Packers Holdings LLC, 2025 Takeback Term Loan, (1-mo.
CME Term SOFR at 1.00% Floor + 1.10%), 4.77%,
03/10/31
 
93
88,927
Prime Security Services Borrower LLC
 
2024 1st Lien Term Loan B, (1-mo. CME Term SOFR at
0.00% Floor + 2.00%), 5.66%, 10/13/30
 
393
390,506
2025 Incremental Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 1.75%), 5.41%, 03/07/32
 
1,649
1,623,873
Reworld Holding Corp.
 
2025 1st Lien Term Loan C, (1-mo. CME Term SOFR at
0.50% Floor + 2.25%), 5.93%, 01/15/31
 
119
118,380
2025 Term Loan B1, (1-mo. CME Term SOFR at 0.50%
Floor + 2.25%), 5.93%, 01/15/31
 
731
728,493
Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor +
2.25%), 5.92%, 11/30/28
 
547
545,755
 
 
14,428,739
Communications Equipment — 0.3%
Ciena Corp., 2025 Repriced Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.43%, 10/24/30
 
842
841,714
Radiate Holdco LLC
 
2025 Delayed Draw Term Loan, (1-mo. CME Term SOFR
at 1.00% Floor + 4.00%), 7.67%, 06/26/29
 
22
21,550
2025 Term Loan, (1-mo. CME Term SOFR at 1.00% Floor
+ 4.00%), 7.67%, 06/26/29
 
21
21,550
 
 
884,814
Security
 
Par
(000)
Value
Construction & Engineering — 1.2%
Azuria Water Solutions, Inc.
 
2026 Delayed Draw Term Loan, 01/27/33(h)
$
109
$ 107,372
2026 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.75%), 6.42%, 01/27/33
 
814
805,290
Brand Industrial Services, Inc., 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 4.50%), 8.16%,
08/01/30
 
1,580
1,351,763
Construction Partners, Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.17%, 11/03/31
 
349
348,438
Dycom Investments, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%, 01/27/33
 
508
509,483
Legence Holdings LLC, 2025 Repriced Term Loan B, (1-mo.
CME Term SOFR at 0.75% Floor + 2.25%), 5.92%,
12/16/31
 
885
886,523
 
 
4,008,869
Consumer Discretionary — 0.1%
Element Materials Technology Group U.S. Holdings, Inc.,
2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50%
Floor + 3.50%), 7.20%, 07/06/29
 
466
466,500
Consumer Staples Distribution & Retail — 1.0%
BCPE Empire Holdings, Inc., 2026 10th Amendment Term
Loan, (1-mo. CME Term SOFR + 3.50%), 7.17%,
12/29/32
 
1,746
1,716,545
EG America LLC, 2026 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 6.92%, 02/10/31
 
953
952,285
U.S. Foods, Inc., 2024 1st Lien Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%, 10/03/31
 
575
578,714
 
 
3,247,544
Containers & Packaging — 3.6%
Charter NEX US, Inc., 2025 Repriced Term Loan B, (1-mo.
CME Term SOFR at 0.75% Floor + 2.50%), 6.17%,
11/29/30
 
2,342
2,325,744
Clydesdale Acquisition Holdings, Inc.
 
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 3.25%), 6.92%, 04/01/32
 
1,273
1,185,264
Term Loan B, (1-mo. CME Term SOFR + 3.18%), 6.84%,
04/13/29
 
140
133,238
Colossus Acquireco LLC, Term Loan B, (3-mo. SOFR +
1.75%), 5.38%, 07/30/32
 
1,800
1,791,918
Graham Packaging Co., Inc., 2026 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 5.92%,
01/26/33
 
947
936,214
LABL, Inc., 2021 USD 1st Lien Term Loan, 0.00%,
10/30/28(g)
 
1,193
540,973
Mauser Packaging Solutions Holding Co., 2025 Term Loan
B, (3-mo. CME Term SOFR at 0.00% Floor + 3.50%),
7.16%, 04/15/30
 
870
839,237
Potters Industries LLC, 2025 Repriced Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
12/23/32
 
596
595,005
Pregis TopCo LLC, 2025 Refinancing Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 4.00%), 7.67%,
02/01/29
 
1,033
1,030,549
Proampac PG Borrower LLC, 2026 USD Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 4.11%), 7.78%,
03/07/33
 
740
713,129
Reynolds Consumer Products LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 03/04/32
 
674
675,981
Schedule of Investments
5
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Containers & Packaging (continued)
Ring Container Technologies Group LLC, 2025 Term Loan
B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%),
6.17%, 09/15/32
$
791
$ 782,763
Trident TPI Holdings, Inc., 2024 Term Loan B7, (3-mo. CME
Term SOFR at 0.50% Floor + 3.75%), 7.45%, 09/15/28
 
611
577,966
 
 
12,127,981
Distributors — 1.1%
American Builders & Contractors Supply Co., Inc.,
2024 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 1.75%), 5.42%, 01/31/31
 
980
979,227
Core & Main LP
 
2024 Term Loan D, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 5.68%, 07/27/28
 
2,104
2,102,984
2024 Term Loan E, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 5.68%, 02/09/31(c)
 
478
478,286
Herc Holdings, Inc., 2026 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.43%, 06/02/32
 
200
199,584
 
 
3,760,081
Diversified Consumer Services — 0.8%
Bright Horizons Family Solutions LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 1.75%),
5.42%, 08/23/32
 
800
797,825
OMNIA Partners LLC, 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.43%, 12/31/32
 
364
363,190
PG Investment Co. 59 SARL, 2025 Repriced Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.25%),
5.95%, 03/26/31
 
369
368,948
Wand NewCo 3, Inc., 2025 Repriced Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
01/30/31
 
1,325
1,312,443
 
 
2,842,406
Diversified REITs — 0.1%
RHP Hotel Properties LP, 2024 1st Lien Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
05/20/30
 
297
295,898
Diversified Telecommunication Services — 2.0%
Cogeco Financing 2 LP, 2023 Incremental Term Loan B,
(1-mo. CME Term SOFR + 2.61%), 6.28%, 09/01/28
 
150
142,314
Level 3 Financing, Inc., 2025 Repriced Term Loan B4, (1-
mo. CME Term SOFR at 0.00% Floor + 3.25%), 6.92%,
03/29/32
 
2,331
2,328,576
Orbcomm, Inc., Term Loan B, (1-mo. CME Term SOFR at
0.75% Floor + 4.51%), 8.10%, 09/01/28
 
352
324,506
Sunrise Financing Partnership, Term Loan AAA, (6-mo.
CME Term SOFR at 0.00% Floor + 2.47%), 6.10%,
02/15/32
 
358
355,204
Virgin Media Bristol LLC
 
2020 USD Term Loan Q, (1-mo. CME Term SOFR +
3.36%), 7.04%, 01/31/29
 
278
267,314
2023 USD Term Loan Y, (6-mo. CME Term SOFR at
0.00% Floor + 3.18%), 7.05%, 03/31/31
 
609
553,932
Zayo Group Holdings, Inc., 2025 USD Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.11% and 0.50%
PIK), 7.28%, 03/11/30(f)
 
2,990
2,930,801
 
 
6,902,647
Security
 
Par
(000)
Value
Electric Utilities — 1.0%
NRG Energy, Inc., 2024 Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 1.85%), 5.52%, 04/16/31
$
1,976
$ 1,977,995
Talen Energy Supply LLC, 2024-1 Incremental Term Loan,
(3-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.15%, 12/15/31
 
417
417,071
Vistra Operations Co. LLC, 1st Lien Term Loan B3, (1-mo.
CME Term SOFR + 1.75%), 5.42%, 12/20/30
 
1,066
1,067,201
 
 
3,462,267
Electronic Equipment, Instruments & Components — 0.5%
Celestica, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 1.75%), 5.43%, 06/20/31(c)
 
271
270,831
Coherent Corp., 2025 Term Loan B2, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 5.42%, 07/02/29
 
549
548,359
Sanmina Corp., Term Loan B, (1-mo. CME Term SOFR at
0.00% Floor + 2.00%), 5.67%, 10/27/32(c)
 
749
748,064
 
 
1,567,254
Energy Equipment & Services — 0.1%
Deep Blue Operating I LLC, Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.42%, 10/01/32(c)
 
233
233,583
Entertainment — 4.5%
Creative Artists Agency LLC, 2025 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 10/01/31
 
1,809
1,806,242
Delta 2 Lux SARL, 2024 Term Loan B1, (3-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 5.45%, 09/30/31
 
1,777
1,771,940
DK Crown Holdings, Inc., 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%, 03/04/32
 
1,403
1,400,591
Electronic Arts, Inc., USD Term Loan B, 03/24/33(h)
 
2,700
2,683,125
EOC Borrower LLC, Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 2.75%), 6.42%, 03/24/32
 
2,148
2,137,568
GVC Holdings Gibraltar Ltd., 2025 Term Loan B5 (2032),
(3-mo. CME Term SOFR at 0.00% Floor + 2.25%),
5.95%, 07/31/32
 
238
237,350
Live Nation Entertainment, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
10/21/32
 
1,164
1,162,627
Motion Finco SARL, 2024 USD Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.20%, 11/12/29
 
1,386
1,205,539
TKO Worldwide Holdings LLC, 2025 Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.66%,
11/21/31
 
2,834
2,830,026
 
 
15,235,008
Environmental, Maintenance & Security Service — 0.2%
JFL-Tiger Acquisition Co., Inc., Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 3.75%), 7.46%, 10/17/30
 
425
424,407
Reworld Holding Corp., 2025 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.25%), 5.93%,
01/15/31
 
261
260,530
 
 
684,937
Financial Services — 3.9%
ABG Intermediate Holdings 2 LLC, 2024 1st Lien Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 2.25%),
5.92%, 12/21/28
 
859
856,855
Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.42%,
07/30/31
 
284
283,223
6
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Financial Services (continued)
Aggreko Holdings, Inc., 2025 USD Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.00%), 6.66%, 05/21/31
$
1,517
$ 1,514,634
Apex Group Treasury LLC, 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.17%,
02/27/32
 
1,418
1,287,993
APi Group DE, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.42%, 01/03/29
 
1,843
1,839,827
CPI Holdco B LLC, 2025 Add-on Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 05/19/31
 
2,609
2,589,479
Gryphon Acquire NewCo LLC, Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%, 09/13/32
 
631
631,158
Hyperion Refinance SARL, 2025 USD Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.42%,
02/15/31
 
1,207
1,167,573
LBM Acquisition LLC, 2024 Incremental Term Loan B, (1-
mo. CME Term SOFR at 0.75% Floor + 3.75%), 7.50%,
06/06/31
 
570
454,507
Orion U.S. Finco, Inc., 1st Lien Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.15%, 10/08/32
 
823
813,914
Sotera Health Holdings LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
05/30/31
 
1,290
1,290,301
Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.17%,
10/16/31(c)
 
79
78,408
WEX, Inc.
 
2024 Term Loan B2, (1-mo. CME Term SOFR at 0.00%
Floor + 1.75%), 5.42%, 03/31/28
 
222
220,932
2025 Incremental Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 1.75%), 5.42%, 03/05/32
 
292
289,130
 
 
13,317,934
Food Products — 1.9%
Chobani LLC, 2025 Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 2.25%), 5.92%, 10/28/32
 
2,948
2,947,372
Froneri U.S., Inc.
 
2024 USD Term Loan B4, (6-mo. CME Term SOFR at
0.00% Floor + 2.25%), 5.88%, 09/30/31
 
2,351
2,300,444
2025 USD Term Loan B6, (6-mo. CME Term SOFR at
0.00% Floor + 2.25%), 5.88%, 09/30/32
 
236
231,214
H-Food Holdings LLC, 2025 Exit Term Loan, (1-mo. CME
Term SOFR at 2.00% Floor + 6.50%), 10.17%, 03/29/30
 
92
92,387
Treehouse Foods, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 4.25%), 7.92%, 02/11/33
 
700
695,919
UTZ Quality Foods LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.20%, 01/29/32
 
337
336,233
Wellness Pet LLC, 2025 Second Out Exchange Term Loan,
(3-mo. CME Term SOFR at 0.75% Floor + 4.01%),
7.71%, 12/31/29
 
89
11,898
 
 
6,615,467
Gas Utilities — 0.2%
BIP PipeCo Holdings LLC, Term Loan B, (2-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 5.65%, 12/06/30
 
304
304,477
M6 ETX Holdings II Midco LLC, 2025 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 04/01/32
 
341
341,827
 
 
646,304
Security
 
Par
(000)
Value
Ground Transportation — 0.9%
Genesee & Wyoming, Inc., 2024 Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.45%, 04/10/31
$
2,485
$ 2,471,116
Hertz Corp.
 
2021 Term Loan B, (1-mo. CME Term SOFR + 3.61%),
7.28%, 06/30/28
 
693
511,240
2021 Term Loan C, (1-mo. CME Term SOFR + 3.61%),
7.28%, 06/30/28
 
137
101,154
 
 
3,083,510
Health Care Equipment & Supplies — 3.6%
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.75%), 6.42%, 02/15/29
 
1,924
1,885,778
Bausch & Lomb Corporation, 2025 Repriced Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 3.75%),
7.42%, 01/15/31
 
1,871
1,873,534
Cotiviti, Inc., 2024 Term Loan, (1-mo. CME Term SOFR +
2.75%), 6.42%, 05/01/31
 
1,418
1,303,175
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.10%), 7.80%, 10/01/27
 
428
414,777
Hologic Inc., 2026 USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 5.92%, 01/14/33
 
3,710
3,663,625
PointClickCare Technologies, Inc., 2025 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.75%), 6.42%,
11/03/31
 
483
480,358
Polaris Newco LLC, USD Term Loan B, (3-mo. CME Term
SOFR at 0.50% Floor + 4.26%), 7.93%, 06/02/28
 
1,401
1,229,072
QuidelOrtho Corp., Term Loan, (1-mo. CME Term SOFR at
0.00% Floor + 4.00%), 7.67%, 08/20/32
 
850
848,305
Waystar Technologies, Inc., 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 10/22/29(c)
 
450
448,738
 
 
12,147,362
Health Care Providers & Services — 3.1%
ACP Tara Holdings, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 6.95%, 12/15/32
 
186
186,619
AHP Health Partners, Inc., 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.25%), 5.92%, 09/20/32
 
143
142,707
CHG Healthcare Services, Inc., 2025 Term Loan B1, (3-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.45%,
09/29/28
 
611
610,757
CNT Holdings I Corp., 2025 Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 2.50%), 6.17%, 11/08/32
 
910
909,363
Concentra Health Services, Inc., 2025 Repriced Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 2.00%),
5.67%, 07/26/31
 
425
426,181
Examworks Bidco, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.50%), 6.17%, 02/06/33
 
877
875,736
EyeCare Partners LLC, 2024 Third Out Term Loan C,
0.00%, 11/30/28(g)
 
33
5,497
ICON Luxembourg SARL, 2024 LUX Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.00%), 5.70%,
07/03/28
 
338
338,623
Ingenovis Health, Inc., Term Loan B, (3-mo. CME Term
SOFR + 4.51%), 8.18%, 03/06/28
 
467
127,743
LifePoint Health, Inc., 2024 1st Lien Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.75%), 7.42%,
05/19/31
 
768
767,499
Medical Solutions Holdings, Inc.
 
2021 1st Lien Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.60%), 7.27%, 11/01/28
 
546
108,199
Schedule of Investments
7
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Health Care Providers & Services (continued)
Medical Solutions Holdings, Inc. (continued)
 
2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 7.10%), 10.77%, 11/01/29
$
377
$ 30,160
Medline Borrower LP
 
2025 Incremental Term Loan B, (1-mo. CME Term SOFR
at 0.50% Floor + 1.75%), 5.42%, 10/23/30
 
1,425
1,426,375
2025 Term Loan B, (1-mo. CME Term SOFR at 0.50%
Floor + 1.75%), 5.42%, 10/23/28
 
923
924,052
Option Care Health, Inc., 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%, 09/22/32
 
1,100
1,103,390
Raven Acquisition Holdings LLC, Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%, 11/19/31
 
344
337,417
Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 4.00%), 7.70%, 09/27/30
 
876
864,961
Surgery Center Holdings, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
12/19/30
 
943
942,583
Team Health Holdings, Inc., 2026 Repriced Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 4.00%),
7.66%, 06/30/28
 
341
339,717
Vizient, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR at
0.50% Floor + 1.75%), 5.42%, 08/01/31
 
208
207,466
 
 
10,675,045
Hotels, Restaurants & Leisure — 6.7%
Aimbridge Acquisition Co., Inc.
 
2025 1st Lien Second Out Term Loan, (1-mo. CME Term
SOFR at 1.00% Floor + 1.61% and 6.00% PIK),
11.29%, 03/11/30(f)
 
130
126,635
2025 First Out Term Loan, (1-mo. CME Term SOFR at
1.00% Floor + 5.61%), 9.29%, 03/11/30
 
137
134,715
Alterra Mountain Co., 2025 Term Loan B8, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.17%, 05/31/30(c)
 
635
634,049
Burger King (Restaurant Brands International, Inc.)/New
Red Finance, Inc., 2024 Term Loan B6, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%, 09/20/30
 
1,239
1,234,983
Caesars Entertainment, Inc.
 
2024 Term Loan B1, (1-mo. CME Term SOFR + 2.25%),
5.92%, 02/06/31
 
1,988
1,926,212
Term Loan B, (1-mo. CME Term SOFR + 2.25%), 5.92%,
02/06/30
 
905
877,525
Crown Finance U.S., Inc., 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 4.50%), 8.17%, 12/02/31
 
805
795,245
Fertitta Entertainment LLC, 2022 Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 3.25%), 6.92%, 01/27/29
 
2,151
2,106,109
Flutter Financing BV
 
2024 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 1.75%), 5.45%, 11/30/30
 
2,393
2,363,369
2025 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 2.00%), 5.70%, 06/04/32
 
716
707,247
Four Seasons Hotels Ltd., 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 1.75%), 5.42%, 09/22/32
 
1,910
1,919,888
Great Canadian Gaming Corp., 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.75%), 8.44%,
11/01/29
 
508
499,508
Herschend Entertainment Co. LLC, 2026 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
05/27/32
 
659
659,488
Hilton Domestic Operating Co., Inc., 2023 Term Loan B4,
(1-mo. CME Term SOFR + 1.75%), 5.43%, 11/08/30
 
485
485,606
Security
 
Par
(000)
Value
Hotels, Restaurants & Leisure (continued)
IRB Holding Corp., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 2.50%), 6.18%, 12/16/30
$
1,140
$ 1,136,430
Light & Wonder International, Inc., 2026 Term Loan B, (1-
mo. CME Term SOFR at 0.50% Floor + 2.00%), 5.67%,
04/16/29
 
684
683,671
Ontario Gaming GTA LP, Term Loan B, (3-mo. CME Term
SOFR at 0.50% Floor + 4.25%), 7.95%, 08/01/30
 
472
441,209
Penn Entertainment, Inc., 2022 Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.50%), 6.17%, 05/03/29
 
711
712,555
Scientific Games Holdings LP, 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 3.00%),
6.65%, 04/04/29
 
662
651,316
SeaWorld Parks & Entertainment, Inc., 2024 Term Loan B3,
(1-mo. CME Term SOFR at 0.50% Floor + 2.00%),
5.67%, 12/04/31(c)
 
330
324,586
Six Flags Entertainment Corp., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
05/01/31
 
204
201,039
Station Casinos LLC, 2024 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 5.67%, 03/14/31
 
1,225
1,223,628
TRQ Sales LLC, Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 0.19%), 3.89%, 12/30/32
 
693
670,048
Voyager Parent LLC, Repriced Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 4.25%), 7.95%, 07/01/32
 
745
739,357
Whatabrands LLC, 2024 1st Lien Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.50%), 6.17%, 08/03/28
 
586
584,977
Wyndham Hotels & Resorts, Inc., 2024 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
05/24/30
 
825
827,529
 
 
22,666,924
Household Durables — 0.5%
Madison Safety & Flow LLC, 2025 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.18%, 09/26/31
 
317
316,881
Somnigroup International, Inc., Term Loan B, (1-mo. SOFR
+ 2.25%), 5.88%, 10/24/31
 
253
253,553
Springs Windows Fashions LLC, 2024 FLFO Delayed Draw
Term Loan, (1-mo. CME Term SOFR at 1.00% Floor +
4.50%), 8.17%, 12/19/29
 
70
69,008
SWF Holdings I Corp., 2024 FLFO A1 Term Loan, (1-mo.
CME Term SOFR at 1.00% Floor + 4.50%), 8.17%,
12/19/29
 
104
103,512
Weber-Stephen Products LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.75%), 7.41%,
10/01/32
 
1,029
1,003,789
 
 
1,746,743
Household Products — 0.2%
Lavender US HoldCo 1, Inc., USD Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 6.95%, 12/30/32
 
710
698,925
Independent Power and Renewable Electricity Producers — 1.0%
Calpine Construction Finance Co. LP, 2025 Repriced Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
1.75%), 5.42%, 07/31/30
 
1,565
1,564,959
8
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Independent Power and Renewable Electricity Producers (continued)
Constellation Renewables LLC, 2020 Term Loan, (3-mo.
CME Term SOFR at 1.00% Floor + 2.00%), 5.67%,
12/15/27
$
786
$ 785,746
Talen Energy Supply LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 11/25/32
 
883
882,629
 
 
3,233,334
Industrial Conglomerates — 1.5%
Beach Acquisition Bidco LLC, USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 6.95%,
09/12/32
 
464
464,418
Chromalloy Corp., 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 6.91%, 03/27/31
 
340
339,840
CoorsTek, Inc., Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 3.00%), 6.67%, 10/28/32
 
374
375,465
Fluid-Flow Products, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 6.92%, 03/04/33
 
132
131,835
Heritage Environmental Services, Inc., 2026 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 3.00%),
6.68%, 04/01/33(c)
 
291
291,000
LSF12 Crown U.S. Commercial Bidco LLC, 2026 Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 3.00%),
6.67%, 12/02/31
 
458
457,873
Pinnacle Buyer LLC, Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 2.50%), 6.16%, 10/01/32
 
626
626,658
Resideo Funding, Inc., 2025 Incremental Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
08/13/32
 
736
733,539
Resilience Parent LLC, 1st Lien Term Loan, (6-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.10%, 02/28/33
 
1,386
1,377,767
Stitch Acquisition Corp., 2024 2nd Out Term Loan, (3-mo.
CME Term SOFR + 7.50%), 11.46%, 12/31/29(c)
 
157
127,039
 
 
4,925,434
Insurance — 6.7%
Alliant Holdings Intermediate LLC, 2025 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
09/19/31
 
4,765
4,723,910
AmWINS Group, Inc., 2026 Term Loan B, (1-mo. CME Term
SOFR at 0.75% Floor + 2.00%), 5.67%, 01/30/32
 
1,779
1,764,829
Amynta Agency Borrower, Inc., 2026 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 12/29/31
 
1,724
1,696,930
Asurion LLC, 2025 Term Loan B13, (1-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 7.92%, 09/19/30
 
1,144
1,129,501
Baldwin Insurance Group Holdings LLC, 2025 Term Loan
B2, (1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.18%, 05/26/31
 
686
673,713
HUB International Ltd., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.92%, 06/20/30
 
3,119
3,110,218
Jones DesLauriers Insurance Management Inc.,
2026 Repriced Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 3.00%), 6.66%, 02/02/33
 
1,536
1,490,125
OneDigital Borrower LLC, 2025 Repriced Term Loan, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.67%,
07/02/31
 
155
149,352
Ryan Specialty LLC, 2024 USD Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 09/15/31
 
1,217
1,214,342
Truist Insurance Holdings LLC
 
2024 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.75%), 6.45%, 05/06/31
 
2,508
2,469,205
Security
 
Par
(000)
Value
Insurance (continued)
Truist Insurance Holdings LLC (continued)
 
2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.00%
Floor + 4.75%), 8.45%, 05/06/32
$
325
$ 321,503
USI, Inc.
 
2024 Term Loan C, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.95%, 09/29/30
 
1,210
1,205,256
2024 Term Loan D, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.95%, 11/21/29
 
2,616
2,607,365
 
 
22,556,249
Interactive Media & Services — 0.1%
Camelot U.S. Acquisition LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR + 2.75%), 6.42%, 01/31/31
 
408
351,485
Internet Software & Services — 0.1%
Gen Digital, Inc., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 5.42%, 04/16/32
 
200
197,103
IT Services — 3.8%
Asurion LLC
 
2021 Second Lien Term Loan B4, (1-mo. CME Term
SOFR + 5.36%), 9.03%, 01/20/29
 
257
254,785
2023 Term Loan B11, (1-mo. CME Term SOFR at 0.00%
Floor + 4.35%), 8.02%, 08/19/28
 
94
94,362
2024 Term Loan B12, (1-mo. CME Term SOFR at 0.00%
Floor + 4.25%), 7.92%, 09/19/30
 
600
593,159
2026 Term Loan B14, (1-mo. CME Term SOFR at 0.00%
Floor + 3.75%), 7.42%, 02/23/33
 
515
497,299
Central Parent LLC, 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 6.95%, 07/06/29
 
1,641
1,165,241
Clearwater Analytics LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 04/21/32
 
690
688,673
Epicor Software Corp., 2024 Term Loan F, (1-mo. CME
Term SOFR at 0.75% Floor + 2.50%), 6.17%, 05/30/31
 
1,792
1,755,963
Galileo Parent, Inc., 1st Lien Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 4.50%), 8.17%, 03/03/33
 
542
530,483
Go Daddy Operating Co. LLC, 2024 Term Loan B8, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
11/09/29
 
1,022
1,006,260
ION Platform Finance U.S., Inc., USD Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 3.75%), 7.45%,
10/07/32
 
2,061
1,647,639
Iron Mountain, Inc., 2023 Term Loan B, 01/31/31(h)
 
460
456,550
Modena Buyer LLC, Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 4.25%), 7.92%, 07/01/31
 
413
369,086
Project Boost Purchaser LLC, 2025 Refinancing Term Loan,
(3-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.45%, 07/16/31
 
1,198
1,152,574
Sedgwick Claims Management Services, Inc., 2023 Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.17%, 07/31/31
 
2,258
2,214,164
Shift4 Payments, LLC, 2025 Repriced Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.65%,
07/03/32
 
425
423,609
 
 
12,849,847
Leisure Products — 0.4%
Bombardier Recreational Products, Inc., 2024 Term Loan
B4, (1-mo. CME Term SOFR at 0.00% Floor + 2.25%),
5.92%, 01/22/31
 
395
394,952
City Football Group Ltd., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 3.50%), 7.31%, 07/22/30
 
858
854,322
 
 
1,249,274
Schedule of Investments
9
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Machinery — 4.3%
AI Aqua Merger Sub, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.75%), 6.29%, 07/31/28
$
1,416
$ 1,411,622
Chart Industries, Inc., 2024 Term Loan B, (3-mo. CME Term
SOFR + 2.50%), 6.16%, 03/15/30
 
322
321,225
Columbus McKinnon Corp., 2026 Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 3.50%), 7.20%, 02/03/33
 
956
950,655
CompoSecure Holdings LLC, Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 5.93%, 01/14/33
 
1,463
1,456,607
Filtration Group Corp., 2025 USD Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 2.50%), 6.17%, 10/21/28
 
2,006
2,005,174
Generac Power Systems, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
07/03/31
 
197
197,985
Indicor LLC, 2026 USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.20%, 11/22/29
 
574
573,210
LSF12 Helix Parent LLC, USD Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.17%, 02/10/33
 
949
935,182
Madison IAQ LLC, Term Loan, (6-mo. CME Term SOFR at
0.50% Floor + 2.50%), 6.13%, 06/21/28
 
2,218
2,215,739
PECF USS Intermediate Holding III Corp., 2026 Term Loan,
(3-mo. CME Term SOFR at 2.00% Floor + 7.50%),
11.17%, 03/03/33
 
74
71,151
Tega MC Australia Holdings Pty. Ltd., Term Loan B,
03/25/33(c)(h)
 
435
431,738
TK Elevator U.S. Newco, Inc., 2025 USD Term Loan B,
(6-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.38%, 04/30/30
 
2,305
2,309,100
WEC U.S. Holdings Ltd., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 01/27/31
 
1,862
1,858,188
 
 
14,737,576
Media — 2.8%
Altice France SA, 2025 USD Term Loan B14, (3-mo. CME
Term SOFR at 0.00% Floor + 6.88%), 10.55%, 05/31/31
 
1,055
1,056,009
Charter Communications Operating LLC
 
2023 Term Loan B4, (3-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 5.66%, 12/07/30
 
840
838,278
2024 Term Loan B5, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.91%, 12/15/31
 
585
584,376
Clear Channel Outdoor Holdings, Inc., 2024 Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 4.11%),
7.78%, 08/23/28
 
439
439,422
CSC Holdings LLC, 2019 Term Loan B5, (Prime + 1.50%),
8.25%, 04/15/27
 
2,108
1,853,031
ECL Entertainment LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%, 08/30/30
 
645
639,904
Gray Media, Inc., 2024 Term Loan B, (1-mo. CME Term
SOFR + 5.25%), 8.92%, 06/04/29
 
3
2,995
Learfield Communications LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 4.50%), 8.17%,
06/30/28
 
383
383,458
NEP Group, Inc., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 4.50%), 8.17%, 10/17/31
 
1,041
938,909
Nexstar Broadcasting, Inc., 2026 Term Loan B7, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.40%,
03/18/33
 
591
583,861
Security
 
Par
(000)
Value
Media (continued)
Radiate Holdco LLC, 2025 FLFO Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 3.61% and 1.50% PIK),
8.78%, 09/25/29(f)
$
1,943
$ 1,723,723
Telenet Financing USD LLC, 2020 USD Term Loan AR,
(1-mo. CME Term SOFR at 0.00% Floor + 2.11%),
5.79%, 04/28/28
 
345
340,329
 
 
9,384,295
Metals & Mining — 0.3%
Covia Holdings LLC, 2025 Repriced Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.40%,
02/26/32
 
975
971,325
Multi-Utilities — 0.5%
GFL ES US LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.17%, 03/03/32
 
1,769
1,768,013
Oil, Gas & Consumable Fuels — 1.9%
Blackfin Pipeline LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.67%, 09/29/32
 
331
332,514
Buckeye Partners LP, 2025 Term Loan B7, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%, 11/22/32
 
336
336,762
Freeport LNG Investments, LLLP, 2026 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 6.89%,
02/11/33
 
1,199
1,198,005
GIP Pilot Acquisition Partners LP, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.65%,
10/04/30
 
163
162,710
Hilcorp Energy I LP, Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 1.75%), 5.43%, 02/11/30(c)
 
475
474,606
Meade Pipeline Co. LLC, Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 5.69%, 09/22/32
 
339
338,434
Murphy USA, Inc., Term Loan B, (1-mo. CME Term SOFR at
0.50% Floor + 1.75%), 5.42%, 04/07/32
 
215
217,143
NGL Energy Partners LP, 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.18%, 03/11/33
 
480
480,000
Oryx Midstream Services Permian Basin LLC, 2025 Term
Loan B, (1-mo. CME Term SOFR at 0.50% Floor +
2.25%), 5.93%, 10/05/28
 
1,847
1,847,230
TransMontaigne Partners LLC, Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.25%), 5.92%, 03/16/30
 
368
367,516
Whitewater Matterhorn Holdings LLC, 2026 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.45%, 06/16/32
 
623
618,664
 
 
6,373,584
Passenger Airlines — 1.4%
AAdvantage Loyalty IP Ltd., 2025 Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.92%, 04/20/28
 
560
553,785
Air Canada, 2024 Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.42%, 03/21/31
 
1,047
1,036,708
American Airlines, Inc.
 
Series AA, 2017 1st Lien Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 1.85%), 5.52%, 01/29/27
 
162
160,895
2023 1st Lien Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 2.25%), 5.91%, 06/04/29
 
904
875,150
JetBlue Airways Corp., 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 4.75%), 8.44%, 08/27/29
 
1,054
956,082
10
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Passenger Airlines (continued)
Stonepeak Nile Parent LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 5.92%,
04/09/32
$
469
$ 467,666
United Airlines, Inc., 2026 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.43%, 02/22/31
 
721
718,104
 
 
4,768,390
Pharmaceuticals — 1.2%
Amneal Pharmaceuticals LLC, 2026 Term Loan, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.67%,
08/01/32
 
1,433
1,437,030
Elanco Animal Health, Inc., 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%, 10/31/32
 
265
265,183
Endo Finance Holdings, Inc., 2024 1st Lien Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.75%),
7.42%, 04/23/31
 
392
389,403
Jazz Financing Lux SARL, 2024 1st Lien Term Loan B2,
(1-mo. CME Term SOFR + 2.25%), 5.92%, 05/05/28
 
1,087
1,089,997
Organon & Co., 2024 USD Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 2.25%), 5.92%, 05/19/31
 
261
247,702
Perrigo Investments LLC, 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 04/20/29
 
514
510,191
PRA Health Sciences, Inc., 2024 US Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.00%), 5.70%,
07/03/28
 
84
84,368
 
 
4,023,874
Professional Services — 2.4%
AlixPartners LLP, 2025 USD Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 5.67%, 08/12/32
 
642
635,376
Amentum Holdings, Inc., 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 09/29/31
 
857
856,298
CoreLogic, Inc., Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.28%, 06/02/28
 
1,169
1,115,929
Corpay Technologies Operating Co. LLC, Term Loan B5,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 04/28/28
 
1,460
1,458,858
Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 2.00% and 3.25% PIK), 8.92%,
07/31/30(f)
 
301
258,174
Trans Union LLC
 
2024 Term Loan B8, (3-mo. CME Term SOFR at 0.00%
Floor + 1.75%), 5.45%, 06/24/31
 
1,214
1,206,772
2024 Term Loan B9, (3-mo. CME Term SOFR at 0.50%
Floor + 1.75%), 5.45%, 06/24/31
 
701
696,272
Zelis Payments Buyer, Inc.
 
5th Amendment Term Loan, (1-mo. CME Term SOFR at
0.00% Floor + 3.25%), 6.92%, 11/26/31
 
1,183
1,142,826
Term Loan B, (1-mo. CME Term SOFR + 2.75%), 6.42%,
09/28/29
 
705
681,705
 
 
8,052,210
Real Estate Management & Development — 0.1%
Cushman & Wakefield U.S. Borrower LLC, 2025 Term Loan
B3, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.42%, 01/31/30(c)
 
339
339,848
Security
 
Par
(000)
Value
Semiconductors & Semiconductor Equipment — 0.6%
Entegris, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 1.75%), 5.43%, 07/06/29
$
543
$ 543,511
Qnity Electronics, Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 5.67%, 11/01/32
 
1,673
1,668,625
 
 
2,212,136
Software — 10.6%
Applied Systems, Inc., 2024 1st Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 5.95%,
02/24/31
 
2,327
2,279,455
Avalara, Inc., 2025 Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 2.75%), 6.45%, 03/26/32
 
798
778,366
Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 4.50%), 8.17%, 08/15/29
 
686
433,889
Boxer Parent Co., Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.67%,
07/30/31
 
2,189
2,024,286
Capstone Borrower, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.45%, 06/17/30
 
459
435,239
CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME
Term SOFR + 2.00%), 5.67%, 01/23/32
 
1,225
1,214,253
Cloud Software Group, Inc.
 
2025 Term Loan B (2031), (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 6.95%, 03/21/31
 
1,856
1,694,192
2025 Term Loan B (2032), (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 6.95%, 08/13/32
 
2,579
2,351,608
Cloudera, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.85%), 7.52%, 10/08/28
 
470
417,117
Clover Holdings 2 LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 4.00%), 7.68%, 12/09/31
 
1,651
1,578,960
CoreLogic, Inc., 2nd Lien Term Loan, (1-mo. CME Term
SOFR + 6.61%), 10.28%, 06/04/29
 
333
309,855
Darktrace PLC, 1st Lien Term Loan, (3-mo. CME Term
SOFR + 3.25%), 6.90%, 10/09/31
 
287
274,006
Dayforce, Inc., 2026 Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 3.00%), 6.66%, 02/04/33
 
1,690
1,596,577
DS Admiral Bidco LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR + 4.25%), 7.95%, 06/26/31
 
432
404,147
Ellucian Holdings, Inc.
 
2024 1st Lien Term Loan B, (1-mo. CME Term SOFR at
0.50% Floor + 2.50%), 6.17%, 10/08/29
 
2,120
2,058,598
2024 2nd Lien Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 4.75%), 8.42%, 11/22/32
 
352
335,868
Gen Digital, Inc., 2024 Term Loan B, (1-mo. CME Term
SOFR + 1.75%), 5.42%, 09/12/29
 
2,013
1,990,227
Genesys Cloud Services, Inc., 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 01/30/32
 
1,608
1,536,765
Kaseya, Inc., 2025 1st Lien Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 6.92%, 03/22/32
 
2,353
2,191,101
McAfee Corp., 2024 USD 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.67%,
03/01/29
 
1,125
1,001,404
MH Sub I LLC, 2024 Term Loan B4, (1-mo. CME Term
SOFR at 0.50% Floor + 4.25%), 7.92%, 12/31/31
 
365
241,707
Mitchell International, Inc., 2024 2nd Lien Term Loan, (1-mo.
CME Term SOFR + 5.25%), 8.92%, 06/17/32
 
281
251,531
MKS Instruments, Inc., 2026 USD Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 1.75%), 5.41%,
02/04/33
 
946
946,293
Schedule of Investments
11
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Software (continued)
Ping Identity Corp., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.42%, 11/15/32(c)
$
396
$ 390,555
Proofpoint, Inc., 2025 Repriced Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.00%), 6.70%, 08/31/28
 
2,440
2,358,809
Quartz Acquireco LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.95%, 06/28/30(c)
 
636
528,082
RealPage, Inc., 1st Lien Term Loan, (3-mo. CME Term
SOFR + 3.26%), 6.96%, 04/24/28
 
1,167
1,116,568
SS&C Technologies, Inc., 2024 Term Loan B8, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%, 05/09/31
 
1,911
1,903,107
UKG, Inc., 2024 Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 2.50%), 6.17%, 02/10/31
 
1,940
1,850,950
VS Buyer LLC, 2025 Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 2.25%), 5.92%, 04/12/31
 
1,620
1,579,407
 
 
36,072,922
Specialty Retail — 2.3%
Belron Finance 2019 LLC, 2026 Repriced Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 2.00%),
5.66%, 10/16/31
 
2,170
2,168,013
Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 3.00%), 6.70%, 01/20/32
 
1,431
1,422,669
LS Group OpCo Acquistion LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
04/23/31
 
849
845,559
Mavis Tire Express Services Topco Corp., 2025 Repriced
Term Loan, (1-mo. CME Term SOFR at 0.75% Floor +
3.00%), 6.67%, 05/04/28
 
2,131
2,127,392
Peer USA LLC, 2025 USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 5.95%, 10/14/32
 
240
237,600
Project Aurora US Finco, Inc., USD Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.45%, 12/06/32
 
172
172,000
Pye-Barker Fire & Safety LLC, 2025 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
12/16/32
 
794
794,146
Restoration Hardware, Inc., 2022 Incremental Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.35%),
7.02%, 10/20/28
 
201
199,773
 
 
7,967,152
Technology Hardware, Storage & Peripherals — 0.7%
Finastra USA, Inc., 2025 USD Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 4.00%), 7.67%, 09/15/32
 
2,379
2,230,312
Textiles, Apparel & Luxury Goods — 0.1%
ABG Intermediate Holdings 2 LLC, 2025 Delayed Draw
Term Loan, (1-mo. CME Term SOFR at 0.00% Floor +
2.25%), 5.92%, 02/13/32
 
455
452,300
Tobacco — 0.0%
Savor Acquisition, Inc., Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.67%, 02/19/32
 
44
43,787
Trading Companies & Distributors — 0.2%
TMK Hawk Parent Corp., 2024 Term Loan B, (1-mo. CME
Term SOFR at 1.00% Floor + 4.00%), 7.67%, 07/02/29(c)
 
1,140
518,732
Security
 
Par
(000)
Value
Transportation Infrastructure — 1.5%
Apple Bidco LLC, 2025 Term Loan, (1-mo. CME Term SOFR
at 0.00% Floor + 2.50%), 6.17%, 09/23/31
$
2,141
$ 2,141,266
Brown Group Holding LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 2.50%), 6.17%, 07/01/31
 
881
881,096
OLA Netherlands BV, Term Loan, (1-mo. CME Term SOFR
at 0.75% Floor + 6.35%), 10.02%, 12/15/26
 
505
501,327
Rand Parent LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.70%, 03/18/30
 
1,274
1,270,854
SIRVA Worldwide, Inc., 2024 Term Loan, (3-mo. CME Term
SOFR at 2.00% Floor + 8.00%), 11.66%, 08/20/29
 
680
261,710
 
 
5,056,253
Wireless Telecommunication Services — 0.7%
Digicel International Finance Ltd., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 5.25%), 8.92%,
08/06/32
 
496
494,622
SBA Senior Finance II LLC, 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%, 01/25/31
 
924
927,337
Windstream Services LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 4.00%), 7.67%, 10/06/32
 
918
917,131
 
 
2,339,090
Total Floating Rate Loan Interests — 109.6%
(Cost: $381,942,225)
371,176,480
 
 
 
 
Shares
 
Investment Companies
Equity Funds — 5.9%
H-Food Holdings, LLC
 
5,718
105,783
Invesco Senior Loan ETF
 
640,400
13,070,564
State Street Blackstone Senior Loan ETF
 
165,000
6,623,100
 
 
19,799,447
Fixed Income Funds(i) — 3.3%
iShares 0-5 Year Investment Grade Corporate Bond ETF
 
30,000
1,514,700
iShares Broad USD High Yield Corporate Bond ETF
 
265,000
9,762,600
 
 
11,277,300
Total Investment Companies — 9.2%
(Cost: $31,714,612)
31,076,747
Preferred Securities
Preferred Stocks — 0.0%(d)
Ground Transportation — 0.0%
Sirva BGRS Holdings, Inc., 07/21/30
 
207
36,168
12
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
(Percentages shown are based on Net Assets)
Security
 
 
Shares
Value
IT Services(c) — 0.0%
Veritas Newco
 
Series G
 
1,121
$ 21,301
Series G-1
 
774
14,709
 
 
36,010
 
72,178
Total Preferred Securities — 0.0%
(Cost: $184,682)
72,178
Warrants
Financial Services — 0.0%
Service King (Carnelian Point), (Exercisable 01/14/23,
1 Share for 1 Warrant, Expires 06/30/27, Strike Price
USD 10.00)(d)
 
1,675
—
Total Warrants — 0.0%
(Cost: $ — )
—
Total Investments — 123.4%
(Cost: $431,003,368)
417,933,581
Liabilities in Excess of Other Assets — (23.4)%
(79,214,204
)
Net Assets — 100.0%
$ 338,719,377
 
(a)
Variable rate security. Interest rate resets periodically. The rate shown is the effective
interest rate as of period end. Security description also includes the reference rate and
spread if published and available.
(b)
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933,
as amended. These securities may be resold in transactions exempt from registration to
qualified institutional investors.
(c)
Security is valued using significant unobservable inputs and is classified as Level 3 in the
fair value hierarchy.
(d)
Non-income producing security.
(e)
Restricted security as to resale, excluding 144A securities. The Trust held restricted
securities with a current value of $202,944, representing 0.1% of its net assets as of
period end, and an original cost of $22,770.
(f)
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.
(g)
Issuer filed for bankruptcy and/or is in default.
(h)
Represents an unsettled loan commitment at period end. Certain details associated with
this purchase are not known prior to the settlement date, including coupon rate.
(i)
Affiliate of the Trust.
For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Trust for compliance purposes.
Affiliates
Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
12/31/25
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain (Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
03/31/26
Shares
Held at
03/31/26
Income
Capital Gain
Distributions
from
Underlying
Funds
BlackRock Liquidity Funds, T-Fund, Institutional Shares(a)
$ —
$ 13,351,995
$ (13,351,995
)
$ —
$ —
$ —
—
$ 2,329
$ —
iShares 0-5 Year High Yield Corporate Bond ETF(a)
214,350
—
(213,500
)
9,119
(9,969
)
—
—
1,246
—
iShares 0-5 Year Investment Grade Corporate Bond ETF
—
1,511,100
—
—
3,600
1,514,700
30,000
—
—
iShares Broad USD High Yield Corporate Bond ETF
8,974,800
1,461,556
(551,700
)
(5,217
)
(116,839
)
9,762,600
265,000
100,260
—
iShares iBoxx $ High Yield Corporate Bond ETF(a)
2,660,790
—
(2,672,152
)
171,791
(160,429
)
—
—
—
—
 
$ 175,693
$ (283,637
)
$ 11,277,300
$ 103,835
$ —
 
(a)
As of period end, the entity is no longer held.
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts 
Description
Number of
Contracts
Expiration
Date
Notional
Amount (000)
Value/
Unrealized
Appreciation
(Depreciation)
Short Contracts 
10-Year U.S. Ultra Long Treasury Note
9
06/18/26
$ 1,021
$ 19,961
U.S. Long Bond
6
06/18/26
682
22,219
 
$ 42,180
Schedule of Investments
13
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
 
Forward Foreign Currency Exchange Contracts 
Currency Purchased
Currency Sold
Counterparty
Settlement Date
Unrealized
Appreciation
(Depreciation)
USD
122,280
EUR
106,000
Barclays Bank PLC
06/17/26
$ (666
)
Centrally Cleared Credit Default Swaps — Sell Protection 
Reference Obligation/Index
Financing
Rate Received
by the Trust
Payment
Frequency
Termination
Date
Credit
Rating(a)
Notional
Amount (000)(b)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
CDX.NA.HY.43.V3
5.00
% 
Quarterly
12/20/29
CCC+
USD
3,168
$ 188,690
$ 203,319
$ (14,629
)
CDX.NA.HY.44.V2
5.00
Quarterly
06/20/30
CCC+
USD
297
17,824
13,835
3,989
 
 
 
 
 
$ 206,514
$ 217,154
$ (10,640
)
 
(a)
Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.
(b)
The maximum potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement.
OTC Total Return Swaps 
Paid by the Trust
Received by the Trust
 
 
 
 
 
 
 
 
Rate/Reference
Frequency
Rate/Reference
Frequency
Counterparty
Effective
Date
Termination
Date
Notional
Amount (000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
1-day SOFR, 3.68%
Quarterly
Markit iBoxx USD
Liquid Leveraged
Loan Index
At Termination
Barclays Bank PLC
N/A
06/20/26
USD
5,000
$ (23,454
)
$ (54,056
)
$ 30,602
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: 
• Level 1 – Unadjusted price quotations in active markets/exchanges that the Trust has the ability to access for identical assets or liabilities;
• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and
• Level 3 – Inputs that are unobservable and significant to the  entire fair value measurement for the asset or liability (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy.  In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy.  The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above. 
 
Level 1
Level 2
Level 3
Total
Assets
Investments 
Long-Term Investments 
Asset-Backed Securities
$ —
$ 3,844,085
$ —
$ 3,844,085
Common Stocks 
Automobile Components
21,552
—
—
21,552
Entertainment
—
—
202,944
202,944
14
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
 
Fair Value Hierarchy as of Period End (continued)
 
Level 1
Level 2
Level 3
Total
Common Stocks (continued)
Financial Services
$ —
$ —
$ 197,461
$ 197,461
Ground Transportation
—
576
—
576
Hotels, Restaurants & Leisure
—
—
114,666
114,666
Household Products
—
—
—
—
Industrial Conglomerates
—
49,063
—
49,063
IT Services
—
—
170,929
170,929
Machinery
—
—
128,122
128,122
Trading Companies & Distributors
—
—
102,141
102,141
Transportation Infrastructure
—
—
74,540
74,540
Wireless Telecommunication Services
—
104,676
—
104,676
Corporate Bonds
—
8,990,726
62,641
9,053,367
Fixed Rate Loan Interests
—
1,544,054
—
1,544,054
Floating Rate Loan Interests
—
363,392,203
7,784,277
371,176,480
Investment Companies 
Equity Funds
19,693,664
105,783
—
19,799,447
Fixed Income Funds
11,277,300
—
—
11,277,300
Preferred Securities
Preferred Stocks
—
36,168
36,010
72,178
Warrants
—
—
—
—
Unfunded Floating Rate Loan Interests(a)
—
283
—
283
Liabilities
Unfunded Floating Rate Loan Interests(a)
—
(3,519
)
(16,745
)
(20,264
)
 
$30,992,516
$378,064,098
$8,856,986
$417,913,600
Derivative Financial Instruments(b)
Assets 
Credit Contracts
$ —
$ 3,989
$ —
$ 3,989
Interest Rate Contracts
42,180
30,602
—
72,782
Liabilities 
Credit Contracts
—
(14,629
)
—
(14,629
)
Foreign Currency Exchange Contracts
—
(666
)
—
(666
)
 
$42,180
$19,296
$—
$61,476
 
(a)
Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.
(b)
Derivative financial instruments are swaps, futures contracts and forward foreign currency exchange contracts. Swaps, futures contracts 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 period end, bank borrowings payable of $69,000,000 are categorized as Level 2 within the fair value hierarchy.
A reconciliation of Level 3 financial instruments is presented when the Trust had a significant amount of Level 3 investments and derivative financial instruments 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: 
 
Common
Stocks
Corporate
Bonds
Fixed
Rate Loan
Interests
Floating
Rate Loan
Interests
Other
Interests
Preferred
Stocks
Unfunded
Floating Rate Loan
Interests
Assets
Opening balance, as of December 31, 2025
$ 1,266,887
$ 63,085
$ —
$ 10,326,807
$ —
(a)
$ 44,151
224
Transfers into Level 3(b)
—
—
—
2,843,064
—
—
4,925
Transfers out of Level 3(c)
—
—
—
(3,863,976
)
—
—
(224
)
Accrued discounts/premiums
—
694
—
3,187
—
—
—
Net realized gain (loss)
—
—
—
(53,131
)
—
—
—
Net change in unrealized appreciation (depreciation)(d)
(443,395
)
(1,138
)
(1,105
)
(49,933
)
—
(8,141
)
(21,670
)
Purchases
945,053
—
1,105
1,713,799
—
—
—
Sales
(777,742
)
—
—
(3,135,540
)
—
—
—
Closing balance, as of March 31, 2026
$ 990,803
$ 62,641
$ —
$ 7,784,277
$ —
(a)
$ 36,010
(16,745
)
Net change in unrealized appreciation (depreciation) on investments still held at March 31,
2026(d)
$ (1,145,141
)
$ (1,138
)
$ (1,105
)
$ (73,166
)
$ —
$ (8,141
)
(21,670
)
Schedule of Investments
15
Schedule of Investments (unaudited)(continued)
March 31, 2026
BlackRock Floating Rate Income Trust (BGT)
 
 
 
Total
Assets
Opening balance, as of December 31, 2025
$ 11,701,154
Transfers into Level 3(b)
2,847,989
Transfers out of Level 3(c)
(3,864,200
)
Accrued discounts/premiums
3,881
Net realized gain (loss)
(53,131
)
Net change in unrealized appreciation (depreciation)(d)
(525,382
)
Purchases
2,659,957
Sales
(3,913,282
)
Closing balance, as of March 31, 2026
$ 8,856,986
Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2026(d)
$ (1,250,361
)
 
(a)
Rounds to less than $1.
(b)
As of December 31, 2025, the Trust used observable inputs in determining the value of certain investments. As of March 31, 2026, the Trust used significant unobservable inputs in
determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy.
(c)
As of December 31, 2025, the Trust used significant unobservable inputs in determining the value of certain investments. As of December 31, 2026, the Trust used observable inputs in
determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy.
(d)
Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at March 31, 2026 is
generally due to investments no longer held or categorized as Level 3 at period end.
 
Currency Abbreviation 
EUR
Euro
USD
United States Dollar
 
Portfolio Abbreviation 
CLO
 Collateralized Loan Obligation
CME
 Chicago Mercantile Exchange
DAC
 Designated Activity Company
DIP
 Debtor-In-Possession
ETF
 Exchange-Traded Fund
GO
 General Obligation Bonds
PIK
 Payment-in-Kind
SOFR
 Secured Overnight Financing Rate
16