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 52nd Street, New York, NY 10055
Registrant’s telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 10/31/2011
Date of reporting period: 01/31/2011
Item 1 – Schedule of Investments
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BlackRock Floating Rate Income Trust (BGT) |
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Schedule of Investments January 31, 2011 (Unaudited) |
(Percentages shown are based on Net Assets) |
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Asset-Backed Securities |
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Par |
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Value |
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ARES CLO Funds (a)(b): |
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Series 2005-10A, Class B, |
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USD |
1,000 |
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$ |
865,000 |
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Series 2011-16A, Class C, |
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850 |
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838,355 |
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Castle Garden Funding, Series |
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1,350 |
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1,022,760 |
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Flagship CLO, Series 2006-1A, |
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696 |
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549,840 |
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LCM LP, Series 8A, Class C, 3.37%, |
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2,200 |
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2,080,100 |
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MAPS CLO Fund LLC, |
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705 |
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615,113 |
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Portola CLO Ltd., Series 2007-1X, |
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950 |
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878,750 |
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Total Asset-Backed Securities – 2.0% |
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6,849,918 |
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Common Stocks (d) |
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Shares |
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Construction & Engineering — 0.0% |
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USI United Subcontractors |
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7,645 |
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159,900 |
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Hotels, Restaurants & Leisure — 0.2% |
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Twin River |
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50,832 |
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508,320 |
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Metals & Mining — 0.1% |
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Euramax International |
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1,135 |
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300,828 |
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Paper & Forest Products — 0.1% |
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Ainsworth Lumber Co. Ltd. |
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55,255 |
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190,373 |
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Ainsworth Lumber Co. Ltd. (a) |
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62,685 |
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215,971 |
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406,344 |
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Software — 0.2% |
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Bankruptcy Management |
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2,947 |
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10,315 |
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HMH Holdings/EduMedia |
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115,632 |
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578,160 |
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588,475 |
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Total Common Stocks – 0.6% |
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1,963,867 |
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Corporate Bonds |
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Par |
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Airlines — 0.2% |
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Air Canada, 9.25%, 8/01/15 (a) |
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USD |
700 |
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745,500 |
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Corporate Bonds |
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Par |
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Value |
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Auto Components — 1.0% |
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Delphi International Holdings |
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USD |
39 |
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$ |
41,093 |
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Icahn Enterprises LP, 7.75%, |
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3,175 |
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3,274,219 |
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3,315,312 |
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Beverages — 0.5% |
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Central European Distribution |
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EUR |
1,500 |
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1,786,741 |
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Capital Markets — 0.2% |
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E*Trade Financial Corp., 3.37%, |
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USD |
439 |
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702,949 |
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Chemicals — 0.2% |
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OXEA Finance/Cy SCA, 9.50%, |
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715 |
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783,819 |
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Commercial Banks — 1.2% |
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VTB Capital SA, 6.88%, 5/29/18 |
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3,940 |
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4,196,100 |
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Commercial Services & Supplies — 0.3% |
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AWAS Aviation Capital Ltd., 7.00%, |
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1,124 |
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1,129,620 |
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Containers & Packaging — 0.7% |
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Ardagh Packaging Finance Plc, |
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EUR |
400 |
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559,982 |
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Smurfit Kappa Acquisitions (a): |
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7.25%, 11/15/17 |
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655 |
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943,875 |
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7.75%, 11/15/19 |
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620 |
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901,928 |
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2,405,785 |
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Diversified Financial Services — 0.9% |
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Ally Financial, Inc., 2.50%, |
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USD |
2,700 |
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2,572,460 |
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Reynolds Group Issuer, Inc., |
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490 |
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494,288 |
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3,066,748 |
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Diversified Telecommunication Services — 1.0% |
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ITC Deltacom, Inc., 10.50%, |
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|
660 |
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722,700 |
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Telefonica Emisiones SAU, 5.43%, |
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EUR |
2,000 |
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2,859,470 |
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3,582,170 |
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Electronic Equipment, Instruments & Components — 0.2% |
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CDW LLC, 8.00%, 12/15/18 (a) |
|
USD |
630 |
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655,200 |
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Portfolio Abbreviations |
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To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:
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CAD |
Canadian Dollar |
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CHF |
Swiss Franc |
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CLO |
Collateral Loan Obligations |
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EUR |
Euro |
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FKA |
Formerly Known As |
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GBP |
British Pound |
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MSCI |
Morgan Stanley Capital International |
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USD |
U.S. Dollar |
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BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
1 |
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BlackRock Floating Rate Income Trust (BGT) |
|
Schedule of Investments (continued) |
(Percentages shown are based on Net Assets) |
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Corporate Bonds |
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Par |
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Value |
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Energy Equipment & Services — 0.0% |
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Compagnie Generale de |
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7.50%, 5/15/15 |
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USD |
50 |
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$ |
51,500 |
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7.75%, 5/15/17 |
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45 |
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47,363 |
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98,863 |
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Food Products — 0.4% |
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B&G Foods, Inc., 7.63%, 1/15/18 |
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|
700 |
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742,000 |
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Smithfield Foods, Inc., 10.00%, |
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590 |
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693,987 |
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1,435,987 |
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Health Care Equipment & Supplies — 0.2% |
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DJO Finance LLC, 10.88%, |
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635 |
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696,913 |
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Health Care Providers & Services — 0.4% |
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HCA, Inc., 7.25%, 9/15/20 |
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1,230 |
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1,316,100 |
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Tenet Healthcare Corp.: |
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9.00%, 5/01/15 |
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95 |
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104,975 |
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10.00%, 5/01/18 |
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35 |
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41,081 |
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1,462,156 |
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Household Durables — 0.5% |
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Beazer Homes USA, Inc., 12.00%, |
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1,500 |
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1,751,250 |
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Berkline/BenchCraft, LLC, 4.50%, |
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|
400 |
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— |
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1,751,250 |
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Independent Power Producers & Energy Traders — 2.1% |
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AES Ironwood LLC, 8.86%, |
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|
78 |
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|
78,336 |
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Calpine Construction Finance Co. |
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1,000 |
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1,072,500 |
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Energy Future Holdings Corp., |
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1,000 |
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1,058,105 |
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Energy Future Intermediate |
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2,350 |
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2,492,422 |
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NRG Energy, Inc., 7.63%, 1/15/18 (a) |
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2,500 |
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2,531,250 |
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7,232,613 |
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Machinery — 0.0% |
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Synventive Molding Solutions, |
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1,137 |
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22,750 |
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Media — 2.0% |
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CCH II LLC, 13.50%, 11/30/16 |
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|
224 |
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270,506 |
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Clear Channel Worldwide Holdings, Inc.: |
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9.25%, 12/15/17 |
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|
501 |
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553,605 |
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Series B, 9.25%, 12/15/17 |
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|
1,704 |
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1,887,180 |
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UPC Germany GmbH, 8.13%, |
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|
2,500 |
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|
2,700,000 |
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Ziggo Finance BV, 6.13%, |
|
EUR |
1,005 |
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1,400,076 |
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6,811,367 |
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Metals & Mining — 1.0% |
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FMG Resources August 2006 |
|
USD |
1,055 |
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1,089,287 |
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Corporate Bonds |
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Par |
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Value |
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Metals & Mining (concluded): |
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Foundation PA Coal Co., 7.25%, |
|
USD |
505 |
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$ |
518,888 |
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New World Resources NV, 7.88%, |
|
EUR |
285 |
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|
418,498 |
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Novelis, Inc., 8.38%, 12/15/17 (a) |
|
USD |
1,170 |
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|
1,260,675 |
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3,287,348 |
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Oil, Gas & Consumable Fuels — 5.1% |
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Coffeyville Resources LLC, 9.00%, |
|
|
342 |
|
|
372,780 |
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Morgan Stanley Bank AG for OAO |
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|
7,230 |
|
|
8,169,900 |
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OPTI Canada, Inc., 9.00%, |
|
|
910 |
|
|
889,525 |
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Petroleos de Venezuela SA: |
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|
|
|
|
|
|
|
16.29%, 7/10/11 (f) |
|
|
4,000 |
|
|
3,860,000 |
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5.25%, 4/12/17 |
|
|
4,000 |
|
|
2,266,000 |
|
|
Repsol International Finance BV, |
|
EUR |
1,500 |
|
|
2,221,104 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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17,779,309 |
|
|
|
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|
Paper & Forest Products — 0.3% |
|
|
|
|
|
|
|
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Ainsworth Lumber Co. Ltd., |
|
USD |
519 |
|
|
512,471 |
|
|
Verso Paper Holdings LLC, |
|
|
450 |
|
|
432,563 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
945,034 |
|
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals — 0.2% |
|
|
|
|
|
|
|
|
Angiotech Pharmaceuticals, Inc., |
|
|
765 |
|
|
631,125 |
|
|
Novasep Holding SAS, 9.63%, |
|
EUR |
159 |
|
|
163,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
794,396 |
|
|
|
|
|
|
|
|
|
|
|
Tobacco — 0.6% |
|
|
|
|
|
|
|
|
Imperial Tobacco Finance Plc, |
|
|
1,500 |
|
|
2,136,770 |
|
|
|
|
|
|
|
|
|
|
|
Transportation Infrastructure — 0.4% |
|
|
|
|
|
|
|
|
Aguila 3 SA, 7.88%, 1/31/18 |
|
CHF |
1,100 |
|
|
1,194,386 |
|
|
|
|
|
|
|
|
|
|
|
Wireless Telecommunication Services — 1.0% |
|
|
|
|
|
|
|
|
Cricket Communications, Inc., |
|
USD |
1,950 |
|
|
2,052,375 |
|
|
iPCS, Inc., 2.43%, 5/01/13 (b) |
|
|
1,155 |
|
|
1,123,237 |
|
|
Nextel Communications, Inc., |
|
|
355 |
|
|
357,219 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,532,831 |
|
|
|
|
|
|
|
|
|
|
|
Total Corporate Bonds – 20.6% |
|
|
|
|
|
71,551,917 |
|
|
|
|
|
|
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Floating Rate Loan Interests (b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
Aerospace & Defense — 2.4% |
|
|
|
|
|
|
|
|
DynCorp International, Inc., Term |
|
|
1,496 |
|
|
1,506,724 |
|
|
Hawker Beechcraft Acquisition Co., LLC: |
|
|
|
|
|
|
|
|
Letter of Credit Linked |
|
|
85 |
|
|
75,219 |
|
|
|
|
|
|
|
|
|
|
2 |
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
|
|
|
|
|
|
|
|
|
|
|
BlackRock Floating Rate Income Trust (BGT) |
|
Schedule of Investments (continued) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Aerospace & Defense (concluded): |
|
|
|
|
|
|
|
|
Hawker Beechcraft Acquisition Co., LLC (concluded): |
|
|
|
|
|
|
|
|
Term Loan, 2.26% - 2.30%, |
|
USD |
1,454 |
|
$ |
1,291,385 |
|
|
SI Organization, Inc., Term Loan B, |
|
|
2,325 |
|
|
2,362,781 |
|
|
TASC, Inc., Tranche A Term Loan, |
|
|
466 |
|
|
467,925 |
|
|
TransDigm, Inc., Tranche Term |
|
|
2,500 |
|
|
2,536,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,240,909 |
|
|
|
|
|
|
|
|
|
|
|
Airlines — 0.4% |
|
|
|
|
|
|
|
|
Delta Air Lines, Inc., Credit-Linked |
|
|
1,250 |
|
|
1,240,625 |
|
|
|
|
|
|
|
|
|
|
|
Auto Components — 1.1% |
|
|
|
|
|
|
|
|
Allison Transmission, Inc., Term |
|
|
1,520 |
|
|
1,514,766 |
|
|
GPX International Tire Corp., Tranche B |
|
|
|
|
|
|
|
|
8.37% - 11.33%, 3/30/12 |
|
|
274 |
|
|
— |
|
|
12.00%, 4/11/12 |
|
|
4 |
|
|
— |
|
|
Global Autocare, Term Loan B, |
|
|
1,200 |
|
|
1,203,000 |
|
|
UCI International, Inc., Term Loan, |
|
|
950 |
|
|
958,906 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,676,672 |
|
|
|
|
|
|
|
|
|
|
|
Automobiles — 0.6% |
|
|
|
|
|
|
|
|
Ford Motor Co., Tranche B-1 Term |
|
|
2,258 |
|
|
2,262,125 |
|
|
|
|
|
|
|
|
|
|
|
Beverages — 0.1% |
|
|
|
|
|
|
|
|
Le-Nature’s, Inc., Tranche B Term |
|
|
1,000 |
|
|
297,500 |
|
|
|
|
|
|
|
|
|
|
|
Biotechnology — 0.3% |
|
|
|
|
|
|
|
|
Grifols SA, Term Loan B, 5.84%, |
|
|
1,100 |
|
|
1,116,041 |
|
|
|
|
|
|
|
|
|
|
|
Building Products — 2.8% |
|
|
|
|
|
|
|
|
Armstrong World Industries, Inc., |
|
|
1,875 |
|
|
1,899,844 |
|
|
Goodman Global, Inc., Term |
|
|
5,985 |
|
|
6,029,852 |
|
|
Momentive Performance Materials (Blitz |
|
|
|
|
|
|
|
|
Tranche B-1 Term Loan, |
|
|
585 |
|
|
581,330 |
|
|
Tranche B-2 Term Loan, |
|
EUR |
821 |
|
|
1,093,731 |
|
|
United Subcontractors, Inc., Term |
|
USD |
179 |
|
|
154,084 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,758,841 |
|
|
|
|
|
|
|
|
|
|
|
Capital Markets — 1.9% |
|
|
|
|
|
|
|
|
American Capital Ltd., Term |
|
|
758 |
|
|
761,245 |
|
|
HarbourVest Partners, Term Loan |
|
|
2,500 |
|
|
2,518,750 |
|
|
Marsico Parent Co., LLC, Term |
|
|
375 |
|
|
294,118 |
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Capital Markets (concluded): |
|
|
|
|
|
|
|
|
Nuveen Investments, Inc.: |
|
|
|
|
|
|
|
|
Term Loan, 5.78% - 5.80%, |
|
USD |
1,773 |
|
$ |
1,784,838 |
|
|
Term Loan (First Lien), 3.30%, |
|
|
1,175 |
|
|
1,146,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,505,635 |
|
|
|
|
|
|
|
|
|
|
|
Chemicals — 6.8% |
|
|
|
|
|
|
|
|
Arizona Chemical, Term Loan B, |
|
|
1,385 |
|
|
1,402,998 |
|
|
Brenntag Holding GmbH & Co. KG: |
|
|
|
|
|
|
|
|
Acquisition Facility 1, 3.76% - |
|
|
232 |
|
|
231,844 |
|
|
Acquisition Facility 2, 4.28% - |
|
EUR |
267 |
|
|
359,495 |
|
|
Facility 2 (Second Lien), |
|
USD |
1,000 |
|
|
1,008,333 |
|
|
Facility B2, 3.76% - 3.79%, |
|
|
1,332 |
|
|
1,332,385 |
|
|
Facility B6A and B6B, 4.72%, |
|
EUR |
414 |
|
|
572,810 |
|
|
CF Industries, Inc., Term Loan B-1, |
|
USD |
224 |
|
|
225,231 |
|
|
Chemtura Corp., Exit Term Loan, |
|
|
1,800 |
|
|
1,819,499 |
|
|
Gentek Holding, LLC, Term Loan B, |
|
|
2,195 |
|
|
2,238,390 |
|
|
Ineos US Finance LLC, Senior |
|
|
98 |
|
|
100,758 |
|
|
MacDermid, Inc., Tranche C Term |
|
EUR |
1,529 |
|
|
1,933,255 |
|
|
PQ Corp. (FKA Niagara Acquisition, |
|
USD |
2,088 |
|
|
2,049,125 |
|
|
Rockwood Specialties Group, Inc., |
|
|
1,024 |
|
|
1,023,976 |
|
|
Solutia, Inc., Term Loan, 4.50%, |
|
|
972 |
|
|
978,492 |
|
|
Styron Sarl: |
|
|
|
|
|
|
|
|
Term Loan, 7.50%, 6/17/16 |
|
|
1,853 |
|
|
1,873,341 |
|
|
Term Loan B, 6.00%, 7/27/17 |
|
|
3,100 |
|
|
3,100,000 |
|
|
Tronox Worldwide LLC, Exit Term |
|
|
3,200 |
|
|
3,240,992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,490,924 |
|
|
|
|
|
|
|
|
|
|
|
Commercial Banks — 1.0% |
|
|
|
|
|
|
|
|
CIT Group, Inc., Tranche 3 Term |
|
|
3,250 |
|
|
3,326,681 |
|
|
|
|
|
|
|
|
|
|
|
Commercial Services & Supplies — 3.7% |
|
|
|
|
|
|
|
|
AWAS Finance Luxembourg Sarl, |
|
|
644 |
|
|
661,196 |
|
|
Advanced Disposal Services, Inc., |
|
|
1,238 |
|
|
1,246,781 |
|
|
Altegrity, Inc., Incremental Term |
|
|
2,139 |
|
|
2,165,991 |
|
|
Casella Waste Systems, Inc., Term |
|
|
1,084 |
|
|
1,083,500 |
|
|
Delos Aircraft, Inc., Term Loan 2, |
|
|
2,175 |
|
|
2,194,031 |
|
|
Diversey, Inc. (FKA Johnson |
|
|
944 |
|
|
953,734 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
3 |
|
|
|
|
|
|
|
|
|
|
|
BlackRock Floating Rate Income Trust (BGT) |
|
Schedule of Investments (continued) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Commercial Services & Supplies (concluded): |
|
|
|
|
|
|
|
|
Protection One, Inc., Term Loan, |
|
USD |
828 |
|
$ |
828,456 |
|
|
Quad/Graphics, Inc., Term Loan, |
|
|
721 |
|
|
716,253 |
|
|
Synagro Technologies, Inc., Term |
|
|
1,946 |
|
|
1,782,039 |
|
|
Volume Services America, Inc. |
|
|
1,222 |
|
|
1,229,575 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,861,556 |
|
|
|
|
|
|
|
|
|
|
|
Communications Equipment — 1.4% |
|
|
|
|
|
|
|
|
Avaya, Inc., Term Loan B, 3.03%, |
|
|
2,700 |
|
|
2,635,762 |
|
|
CommScope, Inc., Term Loan B, |
|
|
2,300 |
|
|
2,346,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,981,762 |
|
|
|
|
|
|
|
|
|
|
|
Construction & Engineering — 0.7% |
|
|
|
|
|
|
|
|
Brand Energy & Infrastructure |
|
|
500 |
|
|
490,834 |
|
|
Safway Services, LLC, First Out |
|
|
2,100 |
|
|
2,100,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,590,834 |
|
|
|
|
|
|
|
|
|
|
|
Construction Materials — 0.3% |
|
|
|
|
|
|
|
|
Fairmount Minerals Ltd., Term |
|
|
1,046 |
|
|
1,064,689 |
|
|
|
|
|
|
|
|
|
|
|
Consumer Finance — 1.2% |
|
|
|
|
|
|
|
|
AGFS Funding Co., Term Loan, |
|
|
4,000 |
|
|
4,054,444 |
|
|
|
|
|
|
|
|
|
|
|
Containers & Packaging — 1.0% |
|
|
|
|
|
|
|
|
Graham Packaging Co., LP: |
|
|
|
|
|
|
|
|
Term Loan C, 6.75%, 4/05/14 |
|
|
716 |
|
|
725,924 |
|
|
Term Loan D, 6.00%, 9/16/16 |
|
|
1,397 |
|
|
1,418,903 |
|
|
Smurfit Kappa Acquisitions (JSG): |
|
|
|
|
|
|
|
|
Term B1, 3.89% - 4.16%, |
|
EUR |
458 |
|
|
627,920 |
|
|
Term Loan Facility C1, |
|
|
453 |
|
|
620,726 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,393,473 |
|
|
|
|
|
|
|
|
|
|
|
Diversified Consumer Services — 3.1% |
|
|
|
|
|
|
|
|
Coinmach Laundry Corp., Delayed |
|
USD |
491 |
|
|
458,070 |
|
|
Coinmach Service Corp., Term |
|
|
3,206 |
|
|
2,905,765 |
|
|
Laureate Education: |
|
|
|
|
|
|
|
|
Delayed Draw Term Loan, |
|
|
208 |
|
|
202,359 |
|
|
Series A New Term Loan, |
|
|
3,097 |
|
|
3,091,713 |
|
|
Term Loan B, 3.55%, 8/17/14 |
|
|
1,392 |
|
|
1,351,641 |
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Diversified Consumer Services (concluded): |
|
|
|
|
|
|
|
|
ServiceMaster Co.: |
|
|
|
|
|
|
|
|
Closing Date Term Loan, |
|
USD |
2,511 |
|
$ |
2,472,976 |
|
|
Delayed Draw Term Loan, |
|
|
250 |
|
|
246,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,728,795 |
|
|
|
|
|
|
|
|
|
|
|
Diversified Financial Services — 3.1% |
|
|
|
|
|
|
|
|
MSCI, Inc., Term Loan, 4.75%, |
|
|
1,965 |
|
|
1,982,320 |
|
|
Professional Service Industries, |
|
|
423 |
|
|
359,576 |
|
|
Reynolds Group Holdings, Inc.: |
|
|
|
|
|
|
|
|
Incremental US Term Loan, |
|
|
3,555 |
|
|
3,572,775 |
|
|
Return of Capital Euro, 6.75%, |
|
EUR |
2,437 |
|
|
3,358,162 |
|
|
Whitelabel IV SA: |
|
|
|
|
|
|
|
|
Term Loan B1, 6.75%, |
|
|
424 |
|
|
586,345 |
|
|
Term Loan B2, 6.75%, |
|
|
701 |
|
|
970,322 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,829,500 |
|
|
|
|
|
|
|
|
|
|
|
Diversified Telecommunication Services — 4.2% |
|
|
|
|
|
|
|
|
BCM Ireland Holdings Ltd. (Eircom): |
|
|
|
|
|
|
|
|
Facility B, 2.75%, 8/14/14 |
|
|
499 |
|
|
576,766 |
|
|
Facility C, 3.00%, 8/14/13 |
|
|
499 |
|
|
576,784 |
|
|
Hawaiian Telcom Communications, |
|
USD |
1,139 |
|
|
1,153,321 |
|
|
Integra Telecom Holdings, Inc., |
|
|
2,015 |
|
|
2,046,609 |
|
|
Level 3 Communications: |
|
|
|
|
|
|
|
|
Incremental Term Loan, |
|
|
4,800 |
|
|
4,671,998 |
|
|
Term Loan B, 11.50%, |
|
|
325 |
|
|
351,650 |
|
|
Nordic Telephone Co. Holdings APS, Swiss: |
|
|
|
|
|
|
|
|
Facility B2, 2.53%, 4/06/14 |
|
EUR |
856 |
|
|
1,169,694 |
|
|
Facility C2, 3.16%, 4/06/15 |
|
|
476 |
|
|
650,650 |
|
|
Wind Telecomunicazioni SpA, Term |
|
|
2,500 |
|
|
3,427,630 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,625,102 |
|
|
|
|
|
|
|
|
|
|
|
Electric Utilities — 1.1% |
|
|
|
|
|
|
|
|
New Development Holdings LLC, |
|
USD |
3,196 |
|
|
3,225,732 |
|
|
TPF Generation Holdings, LLC: |
|
|
|
|
|
|
|
|
Synthetic Letter of Credit |
|
|
151 |
|
|
149,602 |
|
|
Synthetic Revolving Deposit, |
|
|
47 |
|
|
46,897 |
|
|
Term Loan (First Lien), 2.30%, |
|
|
344 |
|
|
341,720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,763,951 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Floating Rate Income Trust (BGT) |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Electronic
Equipment, Instruments |
|
|
|
|
|
|
|
|
CDW LLC (FKA CDW Corp.): |
|
|
|
|
|
|
|
|
Term Loan, 4.26%, 10/10/14 |
|
USD |
1,750 |
|
$ |
1,743,924 |
|
|
Term Loan B, 5.26%, 7/15/17 |
|
|
1,211 |
|
|
1,219,353 |
|
|
Flextronics International Ltd.: |
|
|
|
|
|
|
|
|
Closing
Date Loan A, 2.51%, |
|
|
1,148 |
|
|
1,143,795 |
|
|
Closing
Date Loan B, 2.51%, |
|
|
2,227 |
|
|
2,222,528 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,329,600 |
|
|
|
|
|
|
|
|
|
|
|
Energy Equipment & Services — 0.7% |
|
|
|
|
|
|
|
|
MEG Energy Corp., Tranche D Term |
|
|
2,477 |
|
|
2,489,030 |
|
|
|
|
|
|
|
|
|
|
|
Food & Staples Retailing — 3.7% |
|
|
|
|
|
|
|
|
AB Acquisitions UK Topco 2 Ltd. |
|
GBP |
4,525 |
|
|
6,849,691 |
|
|
Pilot Travel Centers LLC, Initial |
|
USD |
3,004 |
|
|
3,050,976 |
|
|
Rite Aid Corp., Term Loan B, |
|
|
593 |
|
|
595,023 |
|
|
U.S. Foodservice, Inc., Term |
|
|
2,416 |
|
|
2,326,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,822,377 |
|
|
|
|
|
|
|
|
|
|
|
Food Products — 4.8% |
|
|
|
|
|
|
|
|
Advance Pierre Foods, Term Loan |
|
|
|
|
|
|
|
|
7.00%, 9/29/16 |
|
|
2,165 |
|
|
2,183,515 |
|
|
11.25%, 9/29/17 |
|
|
1,400 |
|
|
1,435,000 |
|
|
Birds Eye Iglo Group Ltd. (Liberator |
|
|
|
|
|
|
|
|
Sterling
Tranche Loan |
|
GBP |
433 |
|
|
697,057 |
|
|
Term Loan B, 5.62%, 4/30/16 |
|
EUR |
3,000 |
|
|
4,169,802 |
|
|
CII Investment, LLC (FKA Cloverhill): |
|
|
|
|
|
|
|
|
Delayed
Draw Term Loan, |
|
USD |
250 |
|
|
249,819 |
|
|
Term
Loan A, 8.50%, |
|
|
1,048 |
|
|
1,047,993 |
|
|
Term
Loan B, 8.50%, |
|
|
1,275 |
|
|
1,274,597 |
|
|
Dole Food Co., Inc., Tranche B-1 |
|
|
151 |
|
|
152,655 |
|
|
Green Mountain Coffee, Inc., Term |
|
|
900 |
|
|
903,375 |
|
|
Michael Foods Group, Inc. (FKA M- |
|
|
1,158 |
|
|
1,174,367 |
|
|
Pilgrim’s Pride Corp., Term Loan A, |
|
|
1,535 |
|
|
1,511,975 |
|
|
Pinnacle Foods Finance LLC, |
|
|
1,468 |
|
|
1,483,338 |
|
|
Solvest, Ltd. (Dole), Tranche C-1 |
|
|
378 |
|
|
380,763 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,664,256 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Health Care Equipment & Supplies — 1.0% |
|
|
|
|
|
|
|
|
Biomet, Inc., Euro Term Loan, |
|
EUR |
993 |
|
$ |
1,348,672 |
|
|
DJO Finance LLC (FKA ReAble |
|
USD |
910 |
|
|
900,700 |
|
|
Fresenius SE: |
|
|
|
|
|
|
|
|
Tranche
C-1 Dollar Term Loan, |
|
|
832 |
|
|
835,871 |
|
|
Tranche
C-2 Term Loan, |
|
|
445 |
|
|
447,322 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,532,565 |
|
|
|
|
|
|
|
|
|
|
|
Health Care Providers & Services — 5.0% |
|
|
|
|
|
|
|
|
CHS/Community Health Systems, Inc.: |
|
|
|
|
|
|
|
|
Delayed
Draw Term Loan, |
|
|
104 |
|
|
103,805 |
|
|
Term Loan B, 3.79%, 1/25/17 |
|
|
683 |
|
|
687,221 |
|
|
Term
Loan Facility, 2.54%, |
|
|
2,028 |
|
|
2,015,123 |
|
|
ConvaTec Ltd., Term Loan B, |
|
|
1,225 |
|
|
1,240,823 |
|
|
DaVita, Inc., Term Loan B, 4.50%, |
|
|
1,900 |
|
|
1,925,433 |
|
|
HCA, Inc., Tranche A-1 Term Loan, |
|
|
2,335 |
|
|
2,319,630 |
|
|
Harden Healthcare, Inc.: |
|
|
|
|
|
|
|
|
Add-on
Term Loan, 7.50%, |
|
|
1,568 |
|
|
1,536,150 |
|
|
Tranche
A Term Loan, 8.50%, |
|
|
900 |
|
|
882,223 |
|
|
inVentiv Health, Inc. (FKA Ventive |
|
|
3,070 |
|
|
3,108,412 |
|
|
Renal Advantage Holdings, Inc., |
|
|
1,500 |
|
|
1,521,563 |
|
|
Vanguard Health Holding Co. II, |
|
|
2,094 |
|
|
2,109,432 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,449,815 |
|
|
|
|
|
|
|
|
|
|
|
Health Care Technology — 1.2% |
|
|
|
|
|
|
|
|
IMS Health, Inc., Tranche B Dollar |
|
|
2,570 |
|
|
2,598,654 |
|
|
MedAssets, Inc., Term Loan B, |
|
|
1,500 |
|
|
1,519,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,118,029 |
|
|
|
|
|
|
|
|
|
|
|
Hotels, Restaurants & Leisure — 8.8% |
|
|
|
|
|
|
|
|
Boyd Gaming Corp., Term Loan A, |
|
|
3,125 |
|
|
3,093,750 |
|
|
Dunkin’ Finance Corp., Term |
|
|
2,800 |
|
|
2,843,968 |
|
|
Gateway Casinos & Entertainment, |
|
CAD |
4,440 |
|
|
4,467,269 |
|
|
Harrah’s Operating Co., Inc.: |
|
|
|
|
|
|
|
|
Term
Loan B-2, 3.30%, |
|
USD |
1,000 |
|
|
930,469 |
|
|
Term
Loan B-3, 3.29% - |
|
|
5,787 |
|
|
5,388,327 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
5 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Floating Rate Income Trust (BGT) |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Hotels,
Restaurants & Leisure |
|
|
|
|
|
|
|
|
Harrah’s Operating Co., Inc. (concluded): |
|
|
|
|
|
|
|
|
Term
Loan B-4, 9.50%, |
|
USD |
1,760 |
|
$ |
1,867,526 |
|
|
OSI Restaurant Partners, LLC, |
|
|
32 |
|
|
31,590 |
|
|
SW Acquisitions Co., Inc., Term |
|
|
3,093 |
|
|
3,124,117 |
|
|
Six Flags Theme Parks, Inc., |
|
|
2,225 |
|
|
2,257,325 |
|
|
Travelport LLC (FKA Travelport, |
|
|
592 |
|
|
575,655 |
|
|
Twin River, Senior Secured Term |
|
|
1,476 |
|
|
1,481,285 |
|
|
Universal City Development |
|
|
447 |
|
|
451,455 |
|
|
VML US Finance LLC (FKA Venetian |
|
|
|
|
|
|
|
|
New
Project Term Loan, |
|
|
158 |
|
|
158,320 |
|
|
Term
B Delayed Draw Project |
|
|
1,440 |
|
|
1,445,575 |
|
|
Term
B Funded Project Loan, |
|
|
2,336 |
|
|
2,344,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,460,738 |
|
|
|
|
|
|
|
|
|
|
|
Household Durables — 0.5% |
|
|
|
|
|
|
|
|
Berkline/Benchcraft, LLC, Term Loan, |
|
|
128 |
|
|
6,418 |
|
|
Visant Corp. (FKA Jostens), Term |
|
|
1,596 |
|
|
1,615,618 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,622,036 |
|
|
|
|
|
|
|
|
|
|
|
IT Services — 5.1% |
|
|
|
|
|
|
|
|
Amadeus IT Group SA/Amadeus |
|
|
|
|
|
|
|
|
Term
B3 Facility, 4.28%, |
|
EUR |
615 |
|
|
838,685 |
|
|
Term
B4 Facility, 4.28%, |
|
|
317 |
|
|
432,721 |
|
|
Term
C3 Facility, 4.78%, |
|
|
615 |
|
|
838,686 |
|
|
Term
C4 Facility, 4.78%, |
|
|
314 |
|
|
427,962 |
|
|
Ceridian Corp., US Term Loan, |
|
USD |
1,872 |
|
|
1,835,526 |
|
|
EVERTEC, Inc., Term Loan B, |
|
|
468 |
|
|
474,347 |
|
|
First Data Corp.: |
|
|
|
|
|
|
|
|
Initial
Tranche B-1 Term Loan, |
|
|
4,724 |
|
|
4,469,031 |
|
|
Initial
Tranche B-2 Term Loan, |
|
|
612 |
|
|
579,181 |
|
|
Initial
Tranche B-3 Term Loan, |
|
|
3,112 |
|
|
2,943,506 |
|
|
TransUnion LLC, Term Loan, |
|
|
2,860 |
|
|
2,891,267 |
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
IT Services (concluded): |
|
|
|
|
|
|
|
|
Travelex Plc: |
|
|
|
|
|
|
|
|
Tranche B5, 2.95%, 10/31/13 |
|
USD |
1,033 |
|
$ |
1,025,320 |
|
|
Tranche C5, 3.45%, 10/31/14 |
|
|
1,033 |
|
|
1,025,320 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,781,552 |
|
|
|
|
|
|
|
|
|
|
|
Independent
Power Producers & |
|
|
|
|
|
|
|
|
Texas Competitive Electric Holdings Co., |
|
|
|
|
|
|
|
|
Initial
Tranche B-1 Term Loan, |
|
|
2,446 |
|
|
2,022,267 |
|
|
Initial
Tranche B-2 Term Loan, |
|
|
626 |
|
|
516,940 |
|
|
Initial
Tranche B-3 Term Loan, |
|
|
376 |
|
|
310,509 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,849,716 |
|
|
|
|
|
|
|
|
|
|
|
Industrial Conglomerates — 1.5% |
|
|
|
|
|
|
|
|
Sequa Corp., Term Loan, 3.56%, |
|
|
1,497 |
|
|
1,474,782 |
|
|
Tomkins Plc, Term Loan B, 6.25%, |
|
|
3,700 |
|
|
3,751,280 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,226,062 |
|
|
|
|
|
|
|
|
|
|
|
Insurance — 0.7% |
|
|
|
|
|
|
|
|
CNO Financial Group, Inc., Term |
|
|
2,375 |
|
|
2,398,750 |
|
|
|
|
|
|
|
|
|
|
|
Internet & Catalog Retail — 0.2% |
|
|
|
|
|
|
|
|
FTD Group, Inc., Tranche B Term |
|
|
536 |
|
|
537,258 |
|
|
|
|
|
|
|
|
|
|
|
Machinery — 0.3% |
|
|
|
|
|
|
|
|
Navistar Financial Corp., Term |
|
|
1,025 |
|
|
1,025,513 |
|
|
|
|
|
|
|
|
|
|
|
Marine — 0.3% |
|
|
|
|
|
|
|
|
Horizon Lines, LLC: |
|
|
|
|
|
|
|
|
Return
of Capital, 3.31% - |
|
|
614 |
|
|
571,098 |
|
|
Term Loan, 3.31%, 8/08/12 |
|
|
335 |
|
|
321,127 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
892,225 |
|
|
|
|
|
|
|
|
|
|
|
Media — 22.3% |
|
|
|
|
|
|
|
|
Affinion Group, Inc., Tranche B |
|
|
1,985 |
|
|
1,997,406 |
|
|
Amsterdamse Beheer - En |
|
EUR |
619 |
|
|
848,470 |
|
|
Atlantic Broadband Finance, LLC, |
|
USD |
1,207 |
|
|
1,214,817 |
|
|
Bresnan Telecommunications Co. |
|
|
2,750 |
|
|
2,774,827 |
|
|
Cengage Learning Acquisitions, Inc. |
|
|
|
|
|
|
|
|
Term Loan, 2.55%, 7/03/14 |
|
|
3,740 |
|
|
3,676,416 |
|
|
Tranche
1 Incremental Term |
|
|
1,130 |
|
|
1,137,161 |
|
|
Charter Communications Operating, |
|
|
|
|
|
|
|
|
Term
Loan B1, 7.25%, |
|
|
675 |
|
|
695,810 |
|
|
Term Loan C, 3.56%, 9/06/16 |
|
|
3,459 |
|
|
3,465,528 |
|
|
|
|
|
|
|
|
|
|
6 |
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Floating Rate Income Trust (BGT) |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Media (continued): |
|
|
|
|
|
|
|
|
Clarke American Corp., Term |
|
USD |
1,091 |
|
$ |
1,018,250 |
|
|
FoxCo Acquisition Sub, LLC, Term |
|
|
1,006 |
|
|
1,003,462 |
|
|
Getty Images, Inc., Term Loan B, |
|
|
2,594 |
|
|
2,631,321 |
|
|
HIT Entertainment, Inc., Term Loan |
|
|
300 |
|
|
268,500 |
|
|
HMH Publishing Co., Ltd., Tranche |
|
|
1,935 |
|
|
1,801,915 |
|
|
Hanley-Wood, LLC (FSC |
|
|
2,184 |
|
|
1,009,970 |
|
|
Intelsat Jackson Holdings Ltd., |
|
|
8,250 |
|
|
8,351,062 |
|
|
Interactive Data Corp., Term Loan, |
|
|
1,592 |
|
|
1,611,887 |
|
|
Kabel Deutschland GmbH: |
|
|
|
|
|
|
|
|
Facility
A1 (Consent and Roll), |
|
EUR |
3,913 |
|
|
5,357,545 |
|
|
Mezzanine, 5.86%, 12/31/16 |
|
|
1,000 |
|
|
1,376,284 |
|
|
Knology, Inc., Term Loan B, 5.50%, |
|
USD |
1,300 |
|
|
1,313,407 |
|
|
Lavena Holding 3 GmbH |
|
|
|
|
|
|
|
|
Facility B1, 3.68%, 6/28/15 |
|
EUR |
304 |
|
|
378,321 |
|
|
Facility C1, 3.93%, 6/30/16 |
|
|
608 |
|
|
756,641 |
|
|
Liberty Cablevision of Puerto Rico, |
|
USD |
1,448 |
|
|
1,342,556 |
|
|
MCNA Cable Holdings LLC |
|
|
901 |
|
|
802,022 |
|
|
Mediacom Illinois, LLC (FKA |
|
|
2,229 |
|
|
2,218,191 |
|
|
Newsday, LLC: |
|
|
|
|
|
|
|
|
Fixed
Rate Term Loan, |
|
|
1,500 |
|
|
1,594,687 |
|
|
Floating
Rate Term Loan, |
|
|
1,250 |
|
|
1,270,312 |
|
|
Nielsen Finance LLC: |
|
|
|
|
|
|
|
|
Class
A Dollar Term Loan, |
|
|
65 |
|
|
65,217 |
|
|
Class
B Dollar Term Loan, |
|
|
2,264 |
|
|
2,279,341 |
|
|
Penton Media, Inc., Term Loan |
|
|
3 |
|
|
2,271 |
|
|
Sinclair Television Group, Inc., New |
|
|
1,018 |
|
|
1,035,424 |
|
|
Springer Science+Business Media |
|
EUR |
3,200 |
|
|
4,447,000 |
|
|
Sunshine Acquisition Ltd. (FKA HIT |
|
USD |
1,965 |
|
|
1,932,313 |
|
|
TWCC Holdings Corp., |
|
|
2,111 |
|
|
2,117,469 |
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Media (concluded): |
|
|
|
|
|
|
|
|
Telecommunications Management, LLC: |
|
|
|
|
|
|
|
|
Multi-Draw
Term Loan, 3.26%, |
|
USD |
229 |
|
$ |
205,955 |
|
|
Term Loan, 3.26%, 6/30/13 |
|
|
907 |
|
|
816,525 |
|
|
Telesat: |
|
|
|
|
|
|
|
|
Delayed
Draw Term Loan, |
|
|
218 |
|
|
217,348 |
|
|
Term
Loan B, 3.26%, |
|
|
2,532 |
|
|
2,530,361 |
|
|
UPC Financing Partnership, |
|
EUR |
2,186 |
|
|
2,965,544 |
|
|
Univision Communications, Inc., |
|
USD |
2,473 |
|
|
2,429,399 |
|
|
Virgin Media Investment Holdings |
|
GBP |
4,000 |
|
|
6,410,265 |
|
|
Yell Group Plc, Facility B1, 4.01%, |
|
USD |
— |
(i) |
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
77,371,210 |
|
|
|
|
|
|
|
|
|
|
|
Metals & Mining — 1.4% |
|
|
|
|
|
|
|
|
Euramax International, Inc., Domestic |
|
|
|
|
|
|
|
|
10.00%, 6/29/13 |
|
|
642 |
|
|
612,976 |
|
|
14.00%, 6/29/13 |
|
|
608 |
|
|
580,774 |
|
|
Novelis Corp., Term Loan B, |
|
|
3,500 |
|
|
3,559,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,752,812 |
|
|
|
|
|
|
|
|
|
|
|
Multi-Utilities — 0.0% |
|
|
|
|
|
|
|
|
Mach Gen, LLC, Synthetic Letter of |
|
|
69 |
|
|
63,725 |
|
|
|
|
|
|
|
|
|
|
|
Multiline Retail — 1.8% |
|
|
|
|
|
|
|
|
Hema Holding BV: |
|
|
|
|
|
|
|
|
Facility B, 2.77%, 7/06/15 |
|
EUR |
172 |
|
|
232,254 |
|
|
Facility C, 3.52%, 7/05/16 |
|
|
172 |
|
|
232,254 |
|
|
Facility D, 5.77%, 1/01/17 |
|
|
3,800 |
|
|
5,098,716 |
|
|
The Neiman Marcus Group, Inc., |
|
USD |
796 |
|
|
799,886 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,363,110 |
|
|
|
|
|
|
|
|
|
|
|
Oil, Gas & Consumable Fuels — 1.4% |
|
|
|
|
|
|
|
|
EquiPower Resources Holdings, |
|
|
1,750 |
|
|
1,776,250 |
|
|
Obsidian Natural Gas Trust, Term |
|
|
3,017 |
|
|
3,077,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,853,892 |
|
|
|
|
|
|
|
|
|
|
|
Paper & Forest Products — 0.1% |
|
|
|
|
|
|
|
|
Verso Paper Finance Holdings LLC, |
|
|
392 |
|
|
352,395 |
|
|
|
|
|
|
|
|
|
|
|
Personal Products — 0.3% |
|
|
|
|
|
|
|
|
NBTY, Inc., Term Loan B, 6.25%, |
|
|
1,075 |
|
|
1,090,677 |
|
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals — 0.6% |
|
|
|
|
|
|
|
|
Warner Chilcott Co., LLC, Term |
|
|
861 |
|
|
861,708 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
7 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Floating Rate Income Trust (BGT) |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals (concluded): |
|
|
|
|
|
|
|
|
Warner Chilcott Corp.: |
|
|
|
|
|
|
|
|
Additional
Term Loan, 6.25%, |
|
USD |
524 |
|
$ |
527,492 |
|
|
Term
Loan B-1, 6.25%, |
|
|
223 |
|
|
224,425 |
|
|
Term
Loan B-2, 6.25%, |
|
|
373 |
|
|
375,291 |
|
|
Term
Loan B-3, 6.50%, |
|
|
226 |
|
|
228,003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,216,919 |
|
|
|
|
|
|
|
|
|
|
|
Professional Services — 2.2% |
|
|
|
|
|
|
|
|
Booz Allen Hamilton, Inc.: |
|
|
|
|
|
|
|
|
Term Loan B, 3.78%, 8/01/17 |
|
|
3,600 |
|
|
3,604,813 |
|
|
Tranche
B Term Loan, 7.50%, |
|
|
980 |
|
|
980,481 |
|
|
Tranche
C Term Loan, 6.00%, |
|
|
1,238 |
|
|
1,237,809 |
|
|
Fifth Third Processing Solutions, |
|
|
1,700 |
|
|
1,723,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,546,478 |
|
|
|
|
|
|
|
|
|
|
|
Real
Estate Investment Trusts |
|
|
|
|
|
|
|
|
iStar Financial, Inc., Term Loan |
|
|
300 |
|
|
292,286 |
|
|
|
|
|
|
|
|
|
|
|
Real
Estate Management & |
|
|
|
|
|
|
|
|
Pivotal Promontory, LLC, Term |
|
|
750 |
|
|
1 |
|
|
Realogy Corp.: |
|
|
|
|
|
|
|
|
Delayed
Draw Term Loan B, |
|
|
2,560 |
|
|
2,477,213 |
|
|
Exit
Term Loan, 3.29%, |
|
|
700 |
|
|
682,500 |
|
|
Initial
Term Loan B, 13.50%, |
|
|
2,999 |
|
|
2,901,747 |
|
|
Synthetic
Letter of Credit, |
|
|
355 |
|
|
343,876 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,405,337 |
|
|
|
|
|
|
|
|
|
|
|
Road & Rail — 0.2% |
|
|
|
|
|
|
|
|
Transtar Industries, Term Loan B, |
|
|
625 |
|
|
633,594 |
|
|
|
|
|
|
|
|
|
|
|
Semiconductors
& Semiconductor |
|
|
|
|
|
|
|
|
Freescale Semiconductor, Inc., |
|
|
566 |
|
|
566,938 |
|
|
Microsemi Corp., Term Loan B, |
|
|
1,100 |
|
|
1,113,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,680,688 |
|
|
|
|
|
|
|
|
|
|
|
Software — 0.2% |
|
|
|
|
|
|
|
|
Bankruptcy Management Solutions, |
|
|
|
|
|
|
|
|
Facility
(Second Lien), 8.30%, |
|
|
245 |
|
|
12,559 |
|
|
Term Loan B, 7.50%, 8/20/14 |
|
|
719 |
|
|
331,805 |
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (b) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Software (concluded): |
|
|
|
|
|
|
|
|
Vertafore, Inc., Term Loan B, |
|
USD |
507 |
|
$ |
508,064 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
852,428 |
|
|
|
|
|
|
|
|
|
|
|
Specialty Retail — 2.8% |
|
|
|
|
|
|
|
|
Burlington Coat Factory |
|
|
675 |
|
|
671,747 |
|
|
Gymboree Corp., Term Loan B, |
|
|
1,400 |
|
|
1,416,843 |
|
|
Matalan Finance Plc, Term Facility, |
|
GBP |
1,248 |
|
|
1,990,606 |
|
|
Michaels Stores, Inc., Term |
|
USD |
820 |
|
|
816,099 |
|
|
Petco Animal Supplies, Inc., Term |
|
|
2,660 |
|
|
2,693,250 |
|
|
Toys ‘R’ US, Inc., Term Loan B, |
|
|
1,980 |
|
|
2,004,774 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,593,319 |
|
|
|
|
|
|
|
|
|
|
|
Textiles, Apparel & Luxury Goods — 1.2% |
|
|
|
|
|
|
|
|
PVH/Hilfiger, Euro Term Loan B, |
|
EUR |
3,037 |
|
|
4,131,469 |
|
|
|
|
|
|
|
|
|
|
|
Wireless
Telecommunication |
|
|
|
|
|
|
|
|
Digicel International Finance Ltd., |
|
USD |
4,565 |
|
|
4,496,894 |
|
|
Vodafone Americas Finance 2 Inc., |
|
|
2,250 |
|
|
2,328,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,825,644 |
|
|
|
|
|
|
|
|
|
|
|
Total Floating Rate Loan Interests – 112.5% |
|
|
|
|
|
390,035,564 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign Agency Obligations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Argentina Bonos: |
|
|
|
|
|
|
|
|
0.47%, 8/03/12 (b) |
|
|
2,500 |
|
|
2,361,514 |
|
|
7.00%, 10/03/15 |
|
|
2,000 |
|
|
1,827,722 |
|
|
Colombia Government |
|
|
840,000 |
|
|
882,000 |
|
|
Republic of Venezuela, 1.30%, |
|
|
4,000,000 |
|
|
3,972,000 |
|
|
Uruguay Government International |
|
EUR |
950,000 |
|
|
1,424,259 |
|
|
|
|
|
|
|
|
|
|
|
Total Foreign Agency Obligations – 3.0% |
|
|
|
|
|
10,467,495 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Interests (j) |
|
Beneficial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto Components — 1.6% |
|
|
|
|
|
|
|
|
Delphi Debtor-in-Possession |
|
USD |
— |
(i) |
|
5,367,621 |
|
|
Lear Corp. Escrow |
|
|
500 |
|
|
16,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,383,871 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Floating Rate Income Trust (BGT) |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Other Interests (j) |
|
Beneficial |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
Diversified Financial Services — 0.3% |
|
|
|
|
|
|
|
|
J.G. Wentworth LLC Preferred |
|
USD |
— |
(i) |
$ |
1,130,844 |
|
|
|
|
|
|
|
|
|
|
|
Health Care Providers & Services — 0.0% |
|
|
|
|
|
|
|
|
Critical Care Systems International, |
|
|
— |
(i) |
|
95 |
|
|
|
|
|
|
|
|
|
|
|
Hotels, Restaurants & Leisure — 0.0% |
|
|
|
|
|
|
|
|
WEMBLEY CONTIGENT |
|
|
2 |
|
|
10,500 |
|
|
|
|
|
|
|
|
|
|
|
Household Durables — 0.0% |
|
|
|
|
|
|
|
|
Berkline Benchcraft Equity LLC |
|
|
6 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Total Other Interests – 1.9% |
|
|
|
|
|
6,525,310 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants (l) |
|
Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Machinery — 0.0% |
|
|
|
|
|
|
|
|
Synventive Molding Solutions |
|
|
2 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Media — 0.0% |
|
|
|
|
|
|
|
|
New Vision Holdings LLC: |
|
|
|
|
|
|
|
|
(Expires 9/30/14) |
|
|
3,424 |
|
|
34 |
|
|
(Expires 9/30/14) |
|
|
19,023 |
|
|
190 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
224 |
|
|
|
|
|
|
|
|
|
|
|
Software — 0.0% |
|
|
|
|
|
|
|
|
Bankruptcy Management |
|
|
251 |
|
|
3 |
|
|
HMH Holdings/EduMedia (Expires |
|
|
21,894 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
Total Warrants – 0.0% |
|
|
|
|
|
227 |
|
|
|
|
|
|
|
|
|
|
|
Total Long-Term Investments |
|
|
|
|
|
487,394,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Short-Term Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds, |
|
|
1,911,259 |
|
|
1,911,259 |
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Securities |
|
|
|
|
|
1,911,259 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Options Purchased |
|
Contracts |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Over-the Counter Call Options — 0.0% |
|
|
|
|
|
|
|
|
Marsico Parent Superholdco LLC, |
|
|
26 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Total Options Purchased (Cost - $25,422) – 0.0% |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
|
|
|
489,305,557 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities in Excess of Other Assets – (41.2)% |
|
|
|
|
|
(142,670,675 |
) |
|
|
|
|
|
|
|
|
|
|
Net Assets – 100.0% |
|
|
|
|
$ |
346,634,882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
The cost and unrealized appreciation (depreciation) of investments as of January 31, 2011, as computed for federal income tax purposes were as follows: |
|
|
|
|
|
|
|
Aggregate cost |
|
$ |
480,073,882 |
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
20,694,339 |
|
|
Gross unrealized depreciation |
|
|
(11,462,664 |
) |
|
|
|
|
|
|
|
Net unrealized appreciation |
|
$ |
9,231,675 |
|
|
|
|
|
|
|
|
|
|
|
(a) |
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
|
|
|
|
(b) |
Variable rate security. Rate shown is as of report date. |
|
|
|
|
(c) |
When-issued security. Unsettled when-issued transactions were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
Counterparty |
|
Value |
|
Unrealized |
|
||
|
|
|
|
|
|
|
|
||
|
|
Banc of America NA |
|
$ |
838,355 |
|
|
— |
|
|
|
Credit Suisse Securities (USA) LLC |
|
$ |
494,288 |
|
$ |
4,288 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(d) |
Non-income producing security. |
|
|
|
|
(e) |
Convertible security. |
|
|
|
|
(f) |
Represents a zero-coupon bond. Rate shown reflects the current yield as of report date. |
|
|
|
|
(g) |
Issuer filed for bankruptcy and/or is in default of interest payments. |
|
|
|
|
(h) |
Represents a payment-in-kind security which may pay interest/dividends in additional par/shares. |
|
|
|
|
(i) |
Amount is less than $1,000. |
|
|
|
|
(j) |
Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income producing. |
|
|
|
|
(k) |
The investment is held by a wholly-owned taxable subsidiary of the Fund. |
|
|
|
|
(l) |
Warrants entitle the Fund to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date, if any. |
|
|
|
|
|
|
|
|
|
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
9 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Floating Rate Income Trust (BGT) |
|
|
|
|
(m) |
Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Affiliate |
|
Shares |
|
Net |
|
Shares |
|
Income |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
BlackRock Liquidity Funds, TempFund, Institutional Class |
|
|
8,770,511 |
|
|
(6,859,252 |
) |
|
1,911,259 |
|
$ |
1,381 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(n) |
Represents the current yield as of report date. |
|
|
|
|
• |
For Fund compliance purposes, the Fund’s 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 Fund management. This definition may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease. |
|
|
|
|
• |
Foreign currency exchange contracts as of January 31, 2011 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Currency |
|
Currency |
|
Counterparty |
|
Settlement |
|
Unrealized |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
EUR |
98,000 |
|
USD |
134,436 |
|
Citibank NA |
|
|
2/01/11 |
|
$ |
(260 |
) |
|
USD |
680,655 |
|
EUR |
500,000 |
|
BNP Paribas SA |
|
|
2/01/11 |
|
|
(3,920 |
) |
|
USD |
4,482,119 |
|
CAD |
4,444,500 |
|
Citibank NA |
|
|
4/14/11 |
|
|
50,461 |
|
|
USD |
1,165,905 |
|
CHF |
1,099,500 |
|
Citibank NA |
|
|
4/14/11 |
|
|
341 |
|
|
USD |
13,125,840 |
|
GBP |
8,414,000 |
|
Citibank NA |
|
|
4/14/11 |
|
|
(344,334 |
) |
|
USD |
143,827 |
|
GBP |
90,000 |
|
UBS AG |
|
|
4/14/11 |
|
|
(256 |
) |
|
EUR |
500,000 |
|
USD |
679,972 |
|
BNP Paribas SA |
|
|
4/27/11 |
|
|
3,870 |
|
|
USD |
63,005,917 |
|
EUR |
46,040,000 |
|
Citibank NA |
|
|
4/27/11 |
|
|
37,827 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
$ |
(256,271 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
• |
Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivatives, which are as follows: |
|
|
|
|
|
|
|
• |
Level 1 — price quotations in active markets/exchanges for identical assets and liabilities |
|
|
|
|
|
|
• |
Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
|
|
|
|
|
|
• |
Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivatives) |
|
|
|
|
|
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its annual report. |
||
|
|
|
|
|
|
||
|
10 |
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Floating Rate Income Trust (BGT) |
The following tables summarize the inputs used as of January 31, 2011 in determining the fair valuation of the Fund’s investments and derivatives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Valuation Inputs |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-Term Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset-Backed Securities |
|
|
— |
|
|
— |
|
$ |
6,849,918 |
|
$ |
6,849,918 |
|
|
Common Stocks |
|
$ |
190,373 |
|
$ |
687,014 |
|
|
1,086,480 |
|
|
1,963,867 |
|
|
Corporate Bonds |
|
|
— |
|
|
70,293,688 |
|
|
1,258,229 |
|
|
71,551,917 |
|
|
Floating Rate Loan Interests |
|
|
— |
|
|
322,889,255 |
|
|
67,146,309 |
|
|
390,035,564 |
|
|
Foreign Agency Obligations |
|
|
— |
|
|
6,278,259 |
|
|
4,189,236 |
|
|
10,467,495 |
|
|
Other Interests |
|
|
— |
|
|
5,367,621 |
|
|
1,157,689 |
|
|
6,525,310 |
|
|
Warrants |
|
|
— |
|
|
— |
|
|
227 |
|
|
227 |
|
|
Short- Term Securities |
|
|
1,911,259 |
|
|
— |
|
|
— |
|
|
1,911,259 |
|
|
Unfunded Loan Commitments |
|
|
— |
|
|
— |
|
|
81,744 |
|
|
81,744 |
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unfunded Loan Commitments |
|
|
— |
|
|
— |
|
|
(9,191 |
) |
|
(9,191 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
2,101,632 |
|
$ |
405,515,837 |
|
$ |
81,760,641 |
|
$ |
489,378,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
Derivative Financial Instruments1 |
|
||||||||||
|
|
|
|
|
||||||||||
|
Valuation Inputs |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency exchange contracts |
|
|
— |
|
$ |
92,499 |
|
|
— |
|
$ |
92,499 |
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency exchange contracts |
|
|
— |
|
|
(348,770 |
) |
|
— |
|
$ |
(348,770 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
— |
|
$ |
(256,271 |
) |
|
— |
|
$ |
(256,271 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Derivative financial instruments are foreign currency exchange contracts and options. Foreign currency exchange contracts are shown at the unrealized appreciation/depreciation on the instrument and options are shown at value. |
|
|
|
|
The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
Asset-Backed |
|
Common |
|
Corporate |
|
Floating Rate |
|
Foreign |
|
Other |
|
Preferred |
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, as of October 31, 2010 |
|
|
— |
|
$ |
595,520 |
|
$ |
61,912 |
|
$ |
64,699,477 |
|
$ |
4,228,067 |
|
$ |
5,533,239 |
|
$ |
85,828 |
|
|
Accrued discounts/premiums |
|
$ |
15,515 |
|
|
— |
|
|
82,131 |
|
|
201,095 |
|
|
52,468 |
|
|
— |
|
|
— |
|
|
Net realized gain (loss) |
|
|
— |
|
|
(348,191 |
) |
|
— |
|
|
(3,677,005 |
) |
|
— |
|
|
— |
|
|
136,990 |
|
|
Net change in unrealized |
|
|
29,453 |
|
|
393,043 |
|
|
(84,862 |
) |
|
5,583,136 |
|
|
(91,299 |
) |
|
984,571 |
|
|
(31,032 |
) |
|
Purchases |
|
|
6,255,110 |
|
|
484,868 |
|
|
1,199,048 |
|
|
22,990,429 |
|
|
— |
|
|
7,500 |
|
|
— |
|
|
Sales |
|
|
— |
|
|
(38,760 |
) |
|
— |
|
|
(17,322,833 |
) |
|
— |
|
|
— |
|
|
(191,786 |
) |
|
Transfers in3 |
|
|
549,840 |
|
|
— |
|
|
— |
|
|
5,790,603 |
|
|
— |
|
|
— |
|
|
— |
|
|
Transfers out3 |
|
|
— |
|
|
— |
|
|
— |
|
|
(11,118,593 |
) |
|
— |
|
|
(5,367,621 |
) |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, as of January 31, 2011 |
|
$ |
6,849,918 |
|
$ |
1,086,480 |
|
$ |
1,258,229 |
|
$ |
67,146,309 |
|
$ |
4,189,236 |
|
$ |
1,157,689 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
11 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (concluded) |
BlackRock Floating Rate Income Trust (BGT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
Warrants |
|
Unfunded Loan |
|
Total |
|
|||
|
|
|
|
|
|
|
|
|
|||
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
Balance, as of October 31, 2010 |
|
$ |
227 |
|
$ |
160,394 |
|
$ |
75,364,664 |
|
|
Accrued discounts/premiums |
|
|
— |
|
|
— |
|
|
351,209 |
|
|
Net realized gain (loss) |
|
|
— |
|
|
— |
|
|
(3,888,206 |
) |
|
Net change in unrealized appreciation/depreciation2 |
|
|
— |
|
|
(78,650 |
) |
|
6,704,360 |
|
|
Purchases |
|
|
— |
|
|
— |
|
|
30,936,955 |
|
|
Sales |
|
|
— |
|
|
— |
|
|
(17,553,379 |
) |
|
Transfers in3 |
|
|
— |
|
|
— |
|
|
6,340,443 |
|
|
Transfers out3 |
|
|
— |
|
|
— |
|
|
(16,486,214 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, as of January 31, 2011 |
|
$ |
227 |
|
$ |
81,744 |
|
$ |
81,769,832 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unfunded Loan |
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
Balance, as of October 31, 2010 |
|
$ |
(42,707 |
) |
|
Accrued discounts/premiums |
|
|
— |
|
|
Net realized gain (loss) |
|
|
— |
|
|
Net change in unrealized appreciation/depreciation2 |
|
|
33,516 |
|
|
Purchases |
|
|
— |
|
|
Sales |
|
|
— |
|
|
Transfers in3 |
|
|
— |
|
|
Transfers out3 |
|
|
— |
|
|
|
|
|
|
|
|
Balance, as of January 31, 2011 |
|
$ |
(9,191 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
2 |
The net change in unrealized appreciation/depreciation on securities still held at January 31, 2011 was $856,136. |
|
|
|
|
|
|
3 |
The Fund’s policy is to recognize transfers in and transfers out as of the end of the period of the event or the change in circumstances that caused the transfer. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Credit Contracts |
|
|||||||||
|
|
|
|||||||||
|
|
|
Assets |
|
Liabilities |
|
Total |
|
|||
|
|
|
|
|
|
|
|
|
|||
|
Balance, as of October 31, 2010 |
|
$ |
19,172 |
|
|
— |
|
$ |
19,172 |
|
|
Accrued discounts/premiums |
|
|
— |
|
|
— |
|
|
— |
|
|
Net realized gain (loss) |
|
|
— |
|
|
— |
|
|
— |
|
|
Net change in unrealized appreciation/depreciation4 |
|
|
73,327 |
|
$ |
(348,770 |
) |
|
(275,443 |
) |
|
Purchases |
|
|
— |
|
|
— |
|
|
— |
|
|
Sales |
|
|
— |
|
|
— |
|
|
— |
|
|
Transfers in5 |
|
|
— |
|
|
— |
|
|
— |
|
|
Transfers out5 |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, as of January 31, 2011 |
|
$ |
92,499 |
|
$ |
(348,770 |
) |
$ |
(256,271 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
The net change in unrealized appreciation/depreciation on securities still held at January 31, 2011 was $(275,443). |
|
|
|
|
|
|
5 |
The Fund’s policy is to recognize transfers in and transfers out as of the end of the period of the event or the change in circumstances that caused the transfer. |
|
|
|
|
|
|
||
|
12 |
BLACKROCK FLOATING RATE INCOME TRUST |
JANUARY 31, 2011 |
|
Item 2 – |
Controls and Procedures | ||
|
|
| ||
|
2(a) – |
The registrant's principal executive and principal financial officers or persons performing similar functions have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the ″1940 Act″)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended. | ||
|
|
| ||
|
2(b) – |
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. | ||
|
|
| ||
|
Item 3 – |
Exhibits | ||
|
|
| ||
|
|
Certifications – Attached hereto | ||
|
|
| ||
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. | ||
|
|
| ||
|
|
BlackRock Floating Rate Income Trust | ||
| By: | /s/ John M. Perlowski | ||
| John M. Perlowski | |||
| Chief Executive Officer (principal executive officer) of | |||
| BlackRock Floating Rate Income Trust | |||
| Date: March 25, 2011 | |||
| 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: | /s/ John M. Perlowski | ||
| John M. Perlowski | |||
| Chief Executive Officer (principal executive officer) of | |||
| BlackRock Floating Rate Income Trust | |||
| Date: March 25, 2011 | |||
| By: | /s/ Neal J. Andrews | ||
| Neal J. Andrews | |||
| Chief Financial Officer (principal financial officer) of | |||
| BlackRock Floating Rate Income Trust | |||
| Date: March 25, 2011 | |||