BlackRock Corporate High Yield Fund

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: 811-21318

Name of Fund:  BlackRock Corporate High Yield Fund, Inc. (HYT)

Fund Address:   100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Corporate High Yield Fund, Inc., 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: 08/31/2018

Date of reporting period: 05/31/2018


Item 1 – Schedule of Investments


Consolidated Schedule of Investments  (unaudited) 

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security         
Shares
    Value  

Common Stocks — 3.1%

 

Auto Components — 0.0%  

Lear Corp.

      227     $ 44,946  
     

 

 

 
Chemicals — 0.4%  

Advanced Emissions Solutions, Inc.

      168,580       1,869,552  

Platform Specialty Products Corp.(a)

      369,073       4,451,021  
     

 

 

 
        6,320,573  
Consumer Finance — 0.0%  

Ally Financial, Inc.

      2       51  
     

 

 

 
Diversified Financial Services — 0.9%  

Concrete Investments II S.C.A.(b)

      4,997        

Kcad Holdings I Ltd.(a)(b)

      2,223,465,984       13,451,969  
     

 

 

 
        13,451,969  
Energy Equipment & Services — 0.1%  

Laricina Energy Ltd.(b)(q)

      211,764       2  

Osum Oil Sands Corp.(b)(q)

      400,000       971,772  
     

 

 

 
        971,774  
Health Care Providers & Services — 0.2%  

Tenet Healthcare Corp.(a)

      44,760       1,585,847  

Universal Health Services, Inc., Class B

      13,160       1,513,137  
     

 

 

 
        3,098,984  
Hotels, Restaurants & Leisure — 0.1%  

The Stars Group, Inc.(a)

      48,050       1,626,866  
     

 

 

 
IT Services — 0.2%  

First Data Corp., Class A(a)

      135,954       2,583,126  
     

 

 

 
Machinery — 0.0%  

Gates Industrial Corp. PLC(a)

      18,410       273,573  
     

 

 

 
Media — 0.1%  

Altice USA, Inc., Class A(a)

      87,736       1,716,116  

Emmis Communications Corp.,
Class A(a)

      7,210       39,006  
     

 

 

 
        1,755,122  
Metals & Mining — 0.2%  

Constellium NV, Class A(a)

      261,478       3,176,958  

Peninsula Energy Ltd.(a)

      1,361,116       247,042  
     

 

 

 
        3,424,000  
Oil, Gas & Consumable Fuels — 0.5%  

Gener8 Maritime, Inc.(a)

      965,338       6,448,458  

Halcon Resources Corp. (Acquired 04/06/17, cost $812,363)(a)(p)

      112,050       542,322  
     

 

 

 
        6,990,780  
Real Estate Investment Trusts (REITs) — 0.2%  

Gaming and Leisure Properties, Inc.

      57,580       2,021,058  
     

 

 

 
Security         
Shares
    Value  
Semiconductors & Semiconductor Equipment — 0.0%  

SunPower Corp.(a)

      1,025     $ 8,600  
     

 

 

 
Wireless Telecommunication Services — 0.2%  

T-Mobile U.S., Inc.(a)

      59,550       3,316,935  
     

 

 

 

Total Common Stocks — 3.1%
(Cost — $82,035,430)

 

    45,888,357  
     

 

 

 
       Par
(000)
        

Asset-Backed Securities — 4.4%

 

Accunia European CLO I BV, Series 1X, Class E, (3 mo. Euribor + 7.00%), 7.00%, 07/15/29(c)

    EUR       1,400       1,650,555  

Allegro CLO II Ltd., Series 2014-1A, Class CR, (3 mo. LIBOR US + 3.85%), 6.21%, 01/21/27(c)(d)

    USD       1,000       1,001,185  

Allegro CLO VI Ltd., Series 2017-2A, Class D, 4.48%, 01/17/31(d)(e)

      450       450,580  

ALM Loan Funding(c)(d):

     

Series 2013-7R2A, Class BR, (3 mo. LIBOR US + 2.75%), 5.10%, 10/15/27

      500       502,282  

Series 2013-8A, Class CR, (3 mo. LIBOR US + 3.95%), 6.30%, 10/15/28

      1,400       1,407,157  

ALM VII R Ltd., Series 2013-7RA, Class BR, (3 mo. LIBOR US + 2.70%), 5.05%, 10/15/28(c)(d)

      500       507,092  

ALM XVI Ltd/ALM XVI LLC,
Series 2015-16A(c)(d):

     

Class BR, (3 mo. LIBOR US + 1.00%), 4.40%, 07/15/27

      590       590,448  

Class C1R, (3 mo. LIBOR US + 3.20%), 5.55%, 07/15/27

      742       743,061  

AMMC CLO 18 Ltd., Series 2016-18A, Class D, (3 mo. LIBOR US + 5.00%), 7.32%, 05/26/28(c)(d)

      500       500,158  

AMMC CLO 19 Ltd., Series 2016-19A, Class C, (3 mo. LIBOR US + 2.80%), 5.15%, 10/15/28(c)(d)

      413       414,773  

Anchorage Capital CLO Ltd.(d):

     

Series 2014-3RA, Class D,
4.96%, 01/28/31(e)

      500       497,819  

Series 2014-4RA, Class D,
4.96%, 01/28/31(e)

      1,000       995,637  

Series 2016-8A, Class D, (3 mo. LIBOR US + 4.20%), 6.56%, 07/28/28(c)

      1,000       1,004,133  
 

 

 

     1  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Asset-Backed Securities (continued)  

Apidos CLO XV, Series 2013-15A, Class CRR, 4.21%, 04/20/31(d)(e)

    USD       500     $ 499,508  

Apidos CLO XVIII, Series 2014-18A, Class CR, (3 mo. LIBOR US + 3.25%), 5.61%, 07/22/26(c)(d)

      550       550,799  

Apidos CLO XX, Series 2015-20A, Class BR, (3 mo. LIBOR US + 2.60%), 4.95%, 01/16/27(c)(d)

      250       250,247  

Apidos CLO XXIII, Series 2015-23A, Class D2, (3 mo. LIBOR US + 5.95%), 8.30%, 01/15/27(c)(d)

      750       750,412  

Ares XXVII CLO Ltd., Series 2013-2A, Class DR, (3 mo. LIBOR US + 3.75%),
6.11%, 07/28/29(c)(d)

      500       505,713  

Ares XXVIII CLO Ltd., Series 2013-3A, Class DR, (3 mo. LIBOR US + 3.25%),
5.60%, 10/17/24(c)(d)

      350       350,415  

Ares XXXIII CLO Ltd., Series 2015-1A, Class CR, (3 mo. LIBOR US + 4.20%),
6.22%, 12/05/25(c)(d)

      1,000       1,012,482  

Ares XXXIIR CLO Ltd., Series 2014-32RA(b)(d)(e):

     

Class B, 4.16%, 05/15/30

      500       500,000  

Class C, 5.26%, 05/15/30

      500       496,875  

Ares XXXVII CLO Ltd., Series 2015-4A(d)(e):

     

Class CR, 5.00%, 10/15/30

      1,000       997,330  

Class DR, 8.50%, 10/15/30

      500       510,952  

Atlas Senior Loan Fund X Ltd.,
Series 2018-10A(d)(e):

     

Class B, 3.85%, 01/15/31

      400       400,783  

Class C, 4.20%, 01/15/31

      625       622,044  

Class D, 5.10%, 01/15/31

      500       495,538  

Aurium CLO II DAC, Series 2X, Class E, (3 mo. Euribor + 5.95%), 5.95%, 07/13/29(c)

    EUR       2,024       2,367,035  

Ballyrock CLO Ltd., Series 2016-1A, Class C, (3 mo. LIBOR US + 2.70%), 5.05%, 10/15/28(c)(d)

    USD       1,000       1,004,358  

Betony CLO Ltd., Series 2015-1A, Class CR, (3 mo. LIBOR US + 2.85%), 5.20%, 04/15/27(c)(d)

      250       250,572  

Cairn CLO VII BV, Series 2016-7X, Class E, (3 mo. Euribor + 6.35%), 6.35%, 01/31/30(c)

    EUR       900       1,077,609  

Carlyle Global Market Strategies CLO Ltd.(d):

     

Series 2012-4A, Class DR, (3 mo. LIBOR US + 4.10%), 6.46%, 01/20/29(c)

    USD       500       505,966  

Series 2015-3A, Class D, 8.06%, 07/28/28(e)

      500       500,270  
Security     Par
(000)
    Value  
Asset-Backed Securities (continued)  

Series 2016-3A, Class D, (3 mo. LIBOR US + 7.00%), 9.36%, 10/20/29(c)

    USD       500     $ 507,519  

Series 2017-1A, Class D, (3 mo. LIBOR US + 6.00%), 8.36%, 04/20/31(c)

      500       508,581  

Carlyle US CLO Ltd., Series 2017-2A, Class C, (3 mo. LIBOR US + 3.70%), 6.06%, 07/20/31(c)(d)

      500       505,645  

Cedar Funding Ltd., Series 2017-8A, Class D, 5.60%, 10/17/30(d)(e)

      535       536,856  

Cent CLO 17 Ltd., Series C17A(b)(d)(e):

     

Class BR, 4.20%, 04/30/31

      500       499,000  

Class DR, 8.35%, 04/30/31

      750       749,625  

CIFC Funding I Ltd., Series 2017-1A, Class D, (3 mo. LIBOR US + 3.50%), 5.86%, 04/23/29(c)(d)

      500       503,822  

CIFC Funding Ltd.(d)(e):

     

Series 2014-2A, Class A3LRSeries 2018-1A, Class C, 3.91%, 04/18/31

      500       497,358  

Series 2014-2RA, Class A3, 4.01%, 04/24/30

      500       500,000  

Series 2018-1A, Class B, 3.56%, 04/18/31

      435       431,508  

CIFC Funding V Ltd., Series 2014-5A, Class CR, (3 mo. LIBOR US + 2.70%), 5.05%, 01/17/27(c)(d)

      750       750,484  

Dryden 37 Senior Loan Fund, Series 2015-37A, Class DR, 4.22%, 01/15/31(d)(e)

      500       489,743  

Dryden Senior Loan Fund(c)(d):

     

Series 2014-36A, Class DR, (3 mo. LIBOR US + 4.24%), 6.59%, 01/15/28

      1,500       1,518,274  

Series 2017-50A, Class C, (3 mo. LIBOR US + 2.25%), 4.60%, 07/15/30

      500       503,108  

Galaxy XXVII CLO Ltd., Series 2018-27A, Class D, 5.10%, 05/16/31(b)(d)(e)

      500       496,250  

Goldentree Loan Management US Clo 3 Ltd., Series 2018-3A, Class C, 4.34%, 04/20/30(d)(e)

      550       550,000  

Greenwood Park CLO Ltd., Series 2018-1A, Class D, 4.53%, 04/15/31(b)(d)(e)

      500       495,000  
 

 

2   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Asset-Backed Securities (continued)  

Highbridge Loan Management Ltd. (d):

     

Series 12A-18, Class B, 1.00%, 07/18/31(e)(f)

    USD       750     $ 750,000  

Series 4A-2014, Class A2R,
3.86%, 01/28/30(e)

      500       501,494  

Series 5A-2015, Class C1R, (3 mo. LIBOR US + 2.10%), 4.46%, 01/29/26(c)

      500       500,292  

Series 5A-2015, Class D1R, (3 mo. LIBOR US + 3.30%), 5.66%, 01/29/26(c)

      500       500,439  

Series 5A-2015, Class D2R, (3 mo. LIBOR US + 3.30%), 5.66%, 01/29/26(c)

      500       500,439  

Series 7A-2015, Class CR,
4.04%, 03/15/27(e)

      1,600       1,594,671  

HPS Loan Management Ltd., Series 9A-2016, Class D2, (3 mo. LIBOR US + 6.45%), 8.81%, 07/19/27(c)(d)

      800       804,906  

LCM XV LP, Series 15A, Class CR, (3 mo. LIBOR US + 2.40%), 4.76%, 07/20/30(c)(d)

      500       503,009  

Madison Park Funding XIII Ltd., Series 2014-13A, Class CR2,
4.26%, 04/19/30(b)(d)(e)

      500       500,000  

Madison Park Funding XIV Ltd., Series 2014-14A, Class DR, (3 mo. LIBOR US + 3.25%), 5.61%, 07/20/26(c)(d)

      500       500,462  

Madison Park Funding XV Ltd., Series 2014-15A, Class CR, (3 mo. LIBOR US + 3.45%), 5.82%, 01/27/26(c)(d)

      500       500,836  

Madison Park Funding XVI Ltd., Series 2015-16A, Class D, (3 mo. LIBOR US + 5.50%), 7.86%, 04/20/26(c)(d)

      500       501,190  

Madison Park Funding XXV Ltd., Series 2017-25A, Class B, (3 mo. LIBOR US + 2.35%), 4.71%, 04/25/29(c)(d)

      550       551,301  

Mill Creek II CLO Ltd., Series 2016-1A, Class E, (3 mo. LIBOR US + 7.75%), 10.11%, 04/20/28(c)(d)

      500       500,914  

Neuberger Berman CLO XVI-S Ltd., Series 2017-16SA, Class D, 4.85%, 01/15/28(d)(e)

      500       500,285  

Neuberger Berman CLO XVII Ltd., Series 2014-17A, Class DR, (3 mo. LIBOR US + 3.65%), 6.01%, 04/22/29(c)(d)

      500       504,093  

Neuberger Berman CLO XVIII Ltd., Series 2014-18A(c)(d):

     

Class BR, (3 mo. LIBOR US + 2.55%), 4.91%, 11/14/27

      500       501,961  

Class CR, (3 mo. LIBOR US + 4.25%), 6.61%, 11/14/27

      1,500       1,512,957  
Security     Par
(000)
    Value  
Asset-Backed Securities (continued)  

OCP CLO Ltd., Series 2015-8A, Class CR, 5.15%, 04/17/27(d)(e)

    USD       250     $ 250,492  

Octagon Investment Partners Ltd.(d):

     

Series 2013-1A, Class A1R2,
2.98%, 01/25/31(e)

      1,500       1,501,565  

Series 2013-1A, Class BR2,
3.38%, 01/25/31(e)

      500       499,015  

Series 2013-1A, Class CR2,
3.68%, 01/25/31(e)

      750       749,547  

Series 2016-1A, Class D, (3 mo. LIBOR US + 4.95%), 7.30%, 04/15/27(c)

      500       500,619  

Octagon Investment Partners XXII Ltd., Series 2014-1A, Class DRR, 5.11%, 01/22/30(d)(e)

      1,000       993,850  

Octagon Investment Partners XXVII Ltd., Series 2016-1A, Class E, (3 mo. LIBOR US + 7.10%), 9.45%, 07/15/27(c)(d)

      1,000       1,006,182  

Octagon Investment Partners XXXII Ltd., Series 2017-1A, Class E, 8.55%, 07/15/29(d)(e)

      500       509,327  

OneMain Financial Issuance Trust, Series 2015-2A, Class C, 4.32%, 07/18/25(d)

      200       199,601  

OZLM IX Ltd., Series 2014-9A Class CR, (3 mo. LIBOR US + 3.55%), 5.91%, 01/20/27(c)(d)

      1,000       1,001,306  

OZLM VI Ltd., Series 2014-6A(d)(e):

     

Class B1S, 4.45%, 04/17/31

      500       500,677  

Class CS, 5.48%, 04/17/31

      500       497,632  

OZLM XIX Ltd., Series 2017-19A, Class C, 5.45%, 11/22/30(d)(e)

      500       500,411  

OZLM XX Ltd., Series 2018-20A(b)(d)(e):

     

Class B, 4.11%, 04/20/31

      500       500,000  

Class C, 5.11%, 04/20/31

      750       750,000  

OZLME III DAC, Series 3X, Class E,
4.80%, 08/24/30(e)

    EUR       200       230,617  

Palmer Square CLO Ltd., Series 2014-1A, Class BR2, 4.20%, 01/17/31(d)(e)

    USD       500       497,654  

Rockford Tower CLO Ltd., Series 2018-1A(d)(e):

     

Class B, 3.98%, 05/20/31

      600       600,000  

Class D, 5.26%, 05/20/31

      500       500,000  

Sound Point CLO III Ltd., Series 2013-2RA, Class C, 4.25%, 04/15/29(b)(d)(e)

      500       500,000  

Stewart Park CLO Ltd., Series 2015-1A, Class DR, 4.95%, 01/15/30(d)(e)

      1,000       994,536  
 

 

 

     3  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Asset-Backed Securities (continued)  

Symphony CLO XII Ltd., Series 2013-12A, Class DR, (3 mo. LIBOR US + 3.25%), 5.60%, 10/15/25(c)(d)

    USD       1,000     $ 1,001,206  

Venture XXVI CLO Ltd., Series 2017-26A, Class D, (3 mo. LIBOR US + 4.25%), 6.61%, 01/20/29(c)(d)

      750       761,445  

Voya CLO Ltd.(d):

     

Series 2014-1A, Class BR2,
4.26%, 04/18/31(e)

      500       499,932  

Series 2016-3A, Class C, (3 mo. LIBOR US + 3.85%), 6.21%, 10/18/27(c)

      1,000       1,005,840  

Series 2016-3A, Class D, (3 mo. LIBOR US + 6.85%), 9.21%, 10/18/27(c)

      500       507,128  

Westcott Park CLO Ltd., Series 2016-1A(c)(d):

     

Class D, (3 mo. LIBOR US + 4.35%), 6.71%, 07/20/28

      500       510,663  

Class E, (3 mo. LIBOR US + 7.20%), 9.56%, 07/20/28

      500       517,681  

York CLO Ltd., Series 2016-1A, Class DR, (3 mo. LIBOR US + 3.60%),
5.96%, 10/20/29(c)(d)

      500       504,120  

York CLO-3 Ltd., Series 2016-1A, Class ER, (3 mo. LIBOR US + 6.40%),
8.76%, 10/20/29(c)(d)

      500       509,174  
     

 

 

 

Total Asset-Backed Securities — 4.4%
(Cost — $63,917,158)

 

    64,786,030  
     

 

 

 

Corporate Bonds — 114.2%

 

Aerospace & Defense — 3.8%  

Arconic, Inc.:

     

6.15%, 08/15/20

    USD       1,540       1,609,454  

5.87%, 02/23/22

      705       736,796  

5.13%, 10/01/24

      4,924       4,942,465  

5.90%, 02/01/27

      2,564       2,593,742  

6.75%, 01/15/28

      689       731,488  

BBA US Holdings, Inc., 5.38%, 05/01/26(d)

      1,733       1,737,333  

Bombardier, Inc.(d):

     

7.75%, 03/15/20

      1,434       1,523,625  

8.75%, 12/01/21

      3,324       3,689,640  

6.00%, 10/15/22

      1,369       1,358,459  

6.13%, 01/15/23

      2,390       2,381,037  

7.50%, 12/01/24

      4,518       4,710,015  

7.50%, 03/15/25

      6,089       6,287,501  

7.45%, 05/01/34

      686       694,575  
Security     Par
(000)
    Value  
Aerospace & Defense (continued)  

EnPro Industries, Inc., 5.88%, 09/15/22

    USD       978     $ 1,000,005  

KLX, Inc., 5.88%, 12/01/22(d)

      5,590       5,841,550  

Koppers, Inc., 6.00%, 02/15/25(d)

      1,190       1,206,363  

Kratos Defense & Security Solutions, Inc.,
6.50%, 11/30/25(d)

      1,357       1,407,888  

Pioneer Holdings LLC/Pioneer Finance Corp., 9.00%, 11/01/22(d)

      1,541       1,594,935  

TDC A/S, 3.75%, 03/02/22

      200       246,375  

Telecom Italia SpA/Milano, 2.38%, 10/12/27

      130       145,658  

TransDigm UK Holdings PLC, 6.88%, 05/15/26(d)

      1,766       1,801,320  

TransDigm, Inc.:

     

6.00%, 07/15/22

      5,638       5,715,522  

6.50%, 07/15/24

      3,082       3,143,640  

6.50%, 05/15/25

      430       436,192  
     

 

 

 
        55,535,578  
Air Freight & Logistics — 0.4%  

XPO Logistics, Inc., 6.50%, 06/15/22(d)

      5,442       5,572,608  
     

 

 

 
Airlines — 0.3%  

US Airways Pass-Through Trust, Series 2013-1, Class B, 5.38%, 05/15/23

      2,779       2,848,052  

Virgin Australia Trust, Series 2013-1, Class C, 7.13%, 10/23/18(d)

      1,282       1,293,092  
     

 

 

 
        4,141,144  
Auto Components — 1.1%  

Adient Global Holdings Ltd., 3.50%, 08/15/24

    EUR       456       520,016  

Allison Transmission, Inc., 5.00%, 10/01/24(d)

    USD       827       820,797  

Faurecia, 3.63%, 06/15/23

    EUR       180       219,604  

Fiat Chrysler Automobiles NV, 3.75%, 03/29/24

      400       505,610  

Fiat Chrysler Finance Europe, 4.75%, 07/15/22

      367       478,952  

Gestamp Funding Luxembourg SA,
3.50%, 05/15/23

      100       119,879  

GKN Holdings PLC, 3.38%, 05/12/32

    GBP       100       137,802  

Goodyear Tire & Rubber Co., 5.00%, 05/31/26

    USD       471       446,273  

HP Pelzer Holding GmbH, 4.13%, 04/01/24

    EUR       396       468,129  

Icahn Enterprises LP/Icahn Enterprises Finance Corp.:

     

6.00%, 08/01/20

    USD       140       142,625  
 

 

4   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Auto Components (continued)  

Icahn Enterprises LP/Icahn Enterprises Finance Corp. (continued):

     

6.25%, 02/01/22

    USD       1,452     $ 1,486,485  

6.75%, 02/01/24

      1,586       1,621,685  

6.38%, 12/15/25

      982       978,317  

IHO Verwaltungs GmbH(g):

     

(2.75% Cash or 3.50% PIK),
2.75%, 09/15/21

    EUR       262       311,785  

(3.25% Cash or 4.00% PIK),
3.25%, 09/15/23

      615       737,738  

(3.75% Cash or 4.50% PIK),
3.75%, 09/15/26

      225       273,670  

(4.50% Cash or 5.25% PIK),
4.50%, 09/15/23(d)

    USD       1,367       1,317,446  

Jaguar Land Rover Automotive PLC,
2.20%, 01/15/24

    EUR       200       231,472  

Schaeffler Finance BV, 4.75%, 05/15/23(d)

    USD       1,440       1,449,432  

Tesla, Inc., 5.30%, 08/15/25(d)

      3,044       2,640,670  

Volvo Car AB, 2.00%, 01/24/25

    EUR       400       464,698  

ZF North America Capital, Inc.:

     

2.75%, 04/27/23

      100       124,940  

4.75%, 04/29/25(d)

    USD       150       150,795  
     

 

 

 
        15,648,820  
Banks — 1.1%  

Allied Irish Banks PLC(5 year EUR Swap + 3.95%), 4.13%, 11/26/25(h)

    EUR       710       873,071  

Alpha Bank AE, 2.50%, 02/05/23

      425       493,418  

Banco BPM SpA, 1.75%, 04/24/23

      280       307,514  

Banco Espirito Santo SA,
4.00%, 01/21/19(a)(i)

      1,100       366,497  

Banco Popolare, 2.75%, 07/27/20

      800       938,888  

Banco Popolare di Milano Scarl,
4.25%, 01/30/19

      200       236,868  

Bank of Ireland(5 year EUR Swap + 3.55%), 4.25%, 06/11/24(h)

      540       650,181  

Bank of Ireland Group PLC,
3.13%, 09/19/27(e)

    GBP       100       130,755  

Bankia SA(h):

     

(5 year EUR Swap + 3.17%),
4.00%, 05/22/24

    EUR       700       839,527  

(5 year EUR Swap + 3.35%),
3.38%, 03/15/27

      200       240,225  

Barclays PLC:

     

4.38%, 09/11/24

    USD       3,020       2,930,429  

5.20%, 05/12/26

      800       783,977  

CaixaBank SA (h):

     

(5 year EUR Swap + 3.35%),
3.50%, 02/15/27

    EUR       200       243,076  

(5 year EUR Swap + 2.35%),
2.75%, 07/14/28

      100       116,548  
Security     Par
(000)
    Value  
Banks (continued)  

CIT Group, Inc.:

     

5.00%, 08/15/22

    USD       278     $ 282,518  

5.00%, 08/01/23

      404       408,040  

5.25%, 03/07/25

      1,136       1,153,040  

6.13%, 03/09/28

      634       648,265  

6.00%, 04/01/36

      2,800       2,618,000  

Deutsche Pfandbriefbank AG, 4.60%, 02/22/27

    EUR       100       122,743  

IKB Deutsche Industriebank AG,
4.00%, 01/31/28(e)

      200       232,001  

Intesa Sanpaolo SpA, 6.63%, 09/13/23

      956       1,301,024  

National Bank of Greece SA, 2.75%, 10/19/50

      355       421,225  
     

 

 

 
        16,337,830  
Beverages — 0.3%  

ARD Finance SA, (6.63% Cash or 7.38% PIK), 6.63%, 09/15/23(g)

      200       241,683  

BWAY Holding Co., 7.25%, 04/15/25(d)

    USD       2,217       2,176,872  

Horizon Parent Holdings Sarl, (8.25% Cash or 9.00% PIK), 8.25%, 02/15/22(g)

    EUR       350       427,605  

OI European Group BV:

     

4.00%, 03/15/23(d)

    USD       1,624       1,526,560  

3.13%, 11/15/24

    EUR       175       207,646  

Silgan Holdings, Inc., 3.25%, 03/15/25

      230       273,572  
     

 

 

 
        4,853,938  
Biotechnology — 0.0%  

Senvion Holding GmbH, 3.88%, 10/25/22

      301       303,947  
     

 

 

 
Building Materials — 0.1%  

Jeld-Wen, Inc., 4.63%, 12/15/25(d)

    USD       608       574,560  

Titan Global Finance PLC:

     

3.50%, 06/17/21

    EUR       400       485,156  

2.38%, 11/16/24

      346       384,857  
     

 

 

 
        1,444,573  
Building Products — 1.1%  

American Builders & Contractors Supply Co., Inc., 5.75%, 12/15/23(d)

    USD       860       871,825  

Beacon Escrow Corp., 4.88%, 11/01/25(d)

      2,829       2,602,680  

BMBG Bond Finance SCA, 3.00%, 06/15/21

    EUR       225       266,317  

Building Materials Corp. of America,
6.00%, 10/15/25(d)

    USD       2,308       2,331,080  

CPG Merger Sub LLC, 8.00%, 10/01/21(d)

      2,165       2,211,006  

Jeld-Wen, Inc., 4.88%, 12/15/27(d)

      344       319,920  

Masonite International Corp.,
5.63%, 03/15/23(d)

      3,698       3,805,242  
 

 

 

     5  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Building Products (continued)  

Standard Industries, Inc.(d):

     

5.50%, 02/15/23

    USD       768     $ 784,320  

5.38%, 11/15/24

      1,239       1,217,318  

USG Corp.(d):

     

5.50%, 03/01/25

      904       939,030  

4.88%, 06/01/27

      1,586       1,580,528  
     

 

 

 
        16,929,266  
Cable Television Services — 0.0%  

CB Escrow Corp., 8.00%, 10/15/25(d)

      703       657,305  
     

 

 

 
Capital Markets — 1.2%  

Blackstone CQP Holdco LP(d):

     

6.50%, 03/20/21

      13,913       13,913,000  

6.00%, 08/18/21

      2,265       2,259,337  

Lions Gate Capital Holdings LLC,
5.88%, 11/01/24(d)

      598       598,000  

LPL Holdings, Inc., 5.75%, 09/15/25(d)

      323       310,888  

NFP Corp., 6.88%, 07/15/25(d)

      559       552,012  
     

 

 

 
        17,633,237  
Chemicals — 4.0%  

Alpha 2 BV, (8.75% Cash or 9.50% PIK),
8.75%, 06/01/23(d)(g)

      1,632       1,609,560  

Alpha 3 BV/Alpha US Bidco, Inc.,
6.25%, 02/01/25(d)

      4,500       4,432,500  

Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25

    EUR       385       466,702  

Axalta Coating Systems LLC,
4.88%, 08/15/24(d)

    USD       1,451       1,432,863  

Blue Cube Spinco, Inc.:

     

9.75%, 10/15/23

      2,534       2,898,262  

10.00%, 10/15/25

      1,565       1,823,225  

CF Industries, Inc.:

     

7.13%, 05/01/20

      404       429,250  

5.15%, 03/15/34

      540       496,800  

4.95%, 06/01/43

      1,517       1,259,110  

Chemours Co.:

     

6.13%, 05/15/23

    EUR       100       122,459  

6.63%, 05/15/23

    USD       375       393,855  

7.00%, 05/15/25

      1,387       1,487,557  

4.00%, 05/15/26

    EUR       856       990,130  

5.38%, 05/15/27

    USD       1,453       1,413,043  

Eagle Intermediate Global Holding BV/Ruyi US Finance LLC, 7.50%, 05/01/25(d)

      1,376       1,403,933  

Hexion, Inc., 10.38%, 02/01/22(d)

      1,360       1,334,500  

Huntsman International LLC:

     

4.88%, 11/15/20

      1,304       1,331,710  

5.13%, 11/15/22

      1,445       1,488,350  

INEOS Finance PLC, 4.00%, 05/01/23

    EUR       448       534,272  
Security     Par
(000)
    Value  
Chemicals (continued)  

INEOS Group Holdings SA, 5.38%, 08/01/24

    EUR       200     $ 244,239  

Kronos International, Inc., 3.75%, 09/15/25

      232       266,030  

Momentive Performance Materials, Inc.,
3.88%, 10/24/21

    USD       6,758       7,129,690  

NOVA Chemicals Corp., 4.88%, 06/01/24(d)

      1,815       1,735,594  

OCI NV, 5.00%, 04/15/23

    EUR       290       348,348  

Olin Corp.:

     

5.13%, 09/15/27

    USD       530       515,425  

5.00%, 02/01/30

      109       102,602  

Platform Specialty Products Corp.(d):

     

6.50%, 02/01/22

      11,189       11,468,725  

5.88%, 12/01/25

      4,620       4,446,750  

PQ Corp.(d):

     

6.75%, 11/15/22

      2,337       2,459,692  

5.75%, 12/15/25

      2,471       2,427,757  

PSPC Escrow Corp., 6.00%, 02/01/23

    EUR       394       476,727  

WR Grace & Co-Conn, 5.13%, 10/01/21(d)

    USD       2,483       2,557,490  
     

 

 

 
        59,527,150  
Commercial Services & Supplies — 2.1%  

ADT Corp.:

     

3.50%, 07/15/22

      2,256       2,075,520  

4.13%, 06/15/23

      1,637       1,497,855  

4.88%, 07/15/32(d)

      3,265       2,563,025  

Advanced Disposal Services, Inc.,
5.63%, 11/15/24(d)

      1,319       1,319,000  

Booz Allen Hamilton, Inc., 5.13%, 05/01/25(d)

      1,088       1,066,240  

Catalent Pharma Solutions, Inc.,
4.75%, 12/15/24

    EUR       100       122,477  

CD&R Waterworks Merger Sub LLC,
6.13%, 08/15/25(d)

    USD       2,453       2,354,880  

Fortress Transportation & Infrastructure Investors LLC, 6.75%, 03/15/22(d)

      444       448,440  

Harland Clarke Holdings Corp.,
8.38%, 08/15/22(d)

      2,752       2,758,880  

KAR Auction Services, Inc., 5.13%, 06/01/25(d)

      3,528       3,351,600  

La Financiere Atalian SAS:

     

4.00%, 05/15/24

    EUR       415       459,024  

5.13%, 05/15/25

      314       357,817  

La Financiere Atalian SASU, 6.63%, 05/15/25

    GBP       142       184,521  

Mobile Mini, Inc., 5.88%, 07/01/24

    USD       3,503       3,555,545  

Paprec Holding SA, 4.00%, 03/31/25

    EUR       187       218,612  

Park Aerospace Holdings Ltd.(d):

     

3.63%, 03/15/21

    USD       1,473       1,417,762  

5.25%, 08/15/22

      2,560       2,524,800  
 

 

6   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Commercial Services & Supplies (continued)  

Ritchie Bros Auctioneers, Inc.,
5.38%, 01/15/25(d)

    USD       1,289     $ 1,255,164  

United Rentals North America, Inc.:

     

5.75%, 11/15/24

      1,354       1,394,620  

5.50%, 05/15/27

      1,128       1,116,720  

Verisure Holding AB, 6.00%, 11/01/22

    EUR       167       203,163  

Waste Pro USA, Inc., 5.50%, 02/15/26(d)

    USD       828       799,020  

Wrangler Buyer Corp., 6.00%, 10/01/25(d)

      949       903,922  
     

 

 

 
        31,948,607  
Communications Equipment — 1.4%  

CommScope Technologies Finance LLC, 6.00%, 06/15/25(d)

      147       147,368  

CommScope Technologies LLC,
5.00%, 03/15/27(d)

      1,781       1,665,235  

CommScope, Inc.(d):

     

5.00%, 06/15/21

      2,278       2,289,390  

5.50%, 06/15/24

      1,804       1,808,510  

Nokia OYJ:

     

3.38%, 06/12/22

      714       696,150  

4.38%, 06/12/27

      852       802,192  

6.63%, 05/15/39

      3,486       3,651,097  

Zayo Group LLC/Zayo Capital, Inc.:

     

6.00%, 04/01/23

      2,128       2,157,260  

6.38%, 05/15/25

      2,099       2,127,861  

5.75%, 01/15/27(d)

      6,111       5,912,392  
     

 

 

 
        21,257,455  
Construction & Engineering — 1.2%  

BlueLine Rental Finance Corp.,
9.25%, 03/15/24(d)

      8,405       8,967,883  

Brand Energy & Infrastructure Services, Inc., 8.50%, 07/15/25(d)

      3,195       3,266,888  

Engility Corp., 8.88%, 09/01/24

      1,728       1,810,080  

SPIE SA, 3.13%, 03/22/24

    EUR       300       351,518  

SRS Distribution, Inc., 8.25%, 07/01/26(d)

    USD       1,500       1,460,625  

Tutor Perini Corp., 6.88%, 05/01/25(d)

      1,357       1,366,770  

Weekley Homes LLC/Weekley Finance Corp., 6.63%, 08/15/25(d)

      474       451,485  
     

 

 

 
        17,675,249  
Construction Materials — 1.3%  

American Builders & Contractors Supply Co., Inc., 5.88%, 05/15/26(d)

      1,000       982,500  

American Tire Distributors, Inc.,
10.25%, 03/01/22(d)

      1,043       511,070  

Autodis SA:

     

(3 mo. Euribor + 4.38%), 4.38%, 05/01/22(c)

    EUR       100       117,525  

4.38%, 05/01/22

      150       178,137  
Security     Par
(000)
    Value  
Construction Materials (continued)  

Beacon Roofing Supply, Inc.,
6.38%, 10/01/23

    USD       366     $ 378,700  

HD Supply, Inc., 5.75%, 04/15/24(d)

      12,010       12,595,487  

LKQ Italia Bondco SpA, 3.88%, 04/01/24

    EUR       220       268,765  

Navistar International Corp.,
6.63%, 11/01/25(d)

    USD       1,781       1,838,883  

New Enterprise Stone & Lime Co., Inc., 10.13%, 04/01/22(d)

      1,106       1,175,125  

Rexel SA:

     

3.50%, 06/15/23

    EUR       461       556,663  

2.63%, 06/15/24

      250       294,065  

Williams Scotsman International, Inc., 7.88%, 12/15/22(d)

    USD       771       805,695  
     

 

 

 
        19,702,615  
Consumer Discretionary — 0.5%  

AA Bond Co. Ltd.:

     

2.88%, 01/31/22

    GBP       100       131,144  

4.25%, 07/31/43

      100       137,864  

Arch Merger Sub, Inc., 8.50%, 09/15/25(d)

    USD       1,356       1,257,690  

Elis SA, 1.88%, 02/15/23

    EUR       100       115,997  

Live Nation Entertainment, Inc.,
4.88%, 11/01/24(d)

    USD       296       287,860  

Nielsen Co. Luxembourg SARL,
5.00%, 02/01/25(d)

      463       446,795  

ServiceMaster Co. LLC, 5.13%, 11/15/24(d)

      606       587,062  

Silversea Cruise Finance Ltd.,
7.25%, 02/01/25(d)

      353       368,003  

Viking Cruises Ltd.(d):

     

6.25%, 05/15/25

      1,065       1,046,362  

5.88%, 09/15/27

      3,755       3,510,925  
     

 

 

 
        7,889,702  
Consumer Finance — 2.4%  

Alliance Data Systems Corp.(d):

     

5.88%, 11/01/21

      3,207       3,267,131  

5.38%, 08/01/22

      2,329       2,340,645  

Ally Financial, Inc.:

     

5.13%, 09/30/24

      1,230       1,260,750  

8.00%, 11/01/31

      11,400       13,680,000  

Iron Mountain UK PLC, 3.88%, 11/15/25

    GBP       180       224,718  

Navient Corp.:

     

6.63%, 07/26/21

    USD       1,454       1,508,525  

6.50%, 06/15/22

      2,048       2,114,560  

5.50%, 01/25/23

      932       916,855  

7.25%, 09/25/23

      1,100       1,157,750  

6.13%, 03/25/24

      642       643,605  

5.88%, 10/25/24

      723       712,372  

6.75%, 06/25/25

      730       742,556  

5.63%, 08/01/33

      1,821       1,556,955  
 

 

 

     7  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Consumer Finance (continued)  

Nexi Capital SpA:

     

3.63%, 05/01/23(e)

    EUR       317     $ 363,251  

4.13%, 11/01/23

      364       413,407  

OneMain Financial Holdings LLC,
7.25%, 12/15/21(d)

    USD       398       412,527  

Springleaf Finance Corp.:

     

6.13%, 05/15/22

      490       499,800  

6.88%, 03/15/25

      2,211       2,199,945  

7.13%, 03/15/26

      1,950       1,949,415  
     

 

 

 
        35,964,767  
Containers & Packaging — 3.7%  

Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.:

     

6.00%, 06/30/21(d)

      3,968       4,017,600  

4.13%, 05/15/23

    EUR       275       334,332  

4.63%, 05/15/23(d)

    USD       4,114       4,087,053  

2.75%, 03/15/24

    EUR       131       153,512  

6.75%, 05/15/24

      450       568,816  

7.25%, 05/15/24(d)

    USD       11,068       11,552,225  

6.00%, 02/15/25(d)

      2,673       2,619,540  

4.75%, 07/15/27(d)

    GBP       427       548,180  

4.75%, 07/15/27

      362       464,733  

Ball Corp.:

     

5.00%, 03/15/22

    USD       710       731,300  

4.00%, 11/15/23

      1,606       1,573,880  

Berry Global, Inc., 4.50%, 02/15/26(d)

      634       592,790  

BWAY Holding Co., 5.50%, 04/15/24(d)

      4,925       4,863,437  

Crown Americas LLC/Crown Americas Capital Corp.:

     

4.75%, 02/01/26(d)

      816       770,794  

4.25%, 09/30/26

      858       776,490  

Crown European Holdings SA, 3.38%, 05/15/25

    EUR       303       359,470  

Horizon Holdings I SASU, 7.25%, 08/01/23

      100       121,567  

JH-Holding Finance SA, (8.25% PIK), 8.25%, 12/01/22(g)

      200       243,972  

Mercer International, Inc.:

     

6.50%, 02/01/24

    USD       1,446       1,485,765  

5.50%, 01/15/26(d)

      767       751,660  

Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu:

     

5.75%, 10/15/20

      6,255       6,293,713  

(3 mo. LIBOR US + 3.50%), 5.85%, 07/15/21(c)(d)

      3,030       3,065,451  

5.13%, 07/15/23(d)

      1,259       1,236,968  

7.00%, 07/15/24(d)

      4,926       5,055,061  

Sappi Papier Holding GmbH, 4.00%, 04/01/23

    EUR       150       181,197  
Security     Par
(000)
    Value  
Containers & Packaging (continued)  

Sealed Air Corp.:

     

4.50%, 09/15/23

    EUR       560     $ 735,703  

6.88%, 07/15/33(d)

    USD       700       771,750  

Verallia Packaging SASU, 5.13%, 08/01/22

    EUR       575       692,169  
     

 

 

 
        54,649,128  
Diversified Consumer Services — 1.6%  

APX Group, Inc.:

     

8.75%, 12/01/20

    USD       1,915       1,838,400  

7.88%, 12/01/22

      1,649       1,628,387  

Ascend Learning LLC, 6.88%, 08/01/25(d)

      1,852       1,852,000  

Carriage Services, Inc., 6.63%, 06/01/26(d)

      958       966,383  

Cognita Financing PLC, 7.75%, 08/15/21

    GBP       225       307,090  

Graham Holdings Co., 5.75%, 06/01/26(d)

    USD       1,087       1,092,435  

Laureate Education, Inc., 8.25%, 05/01/25(d)

      591       624,983  

Matthews International Corp., 5.25%, 12/01/25(d)

      646       625,005  

Pinnacle Bidco PLC, 6.38%, 02/15/25

    GBP       177       236,423  

Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25%, 05/15/23(d)

    USD       12,368       13,085,344  

RBS Global, Inc./Rexnord LLC, 4.88%, 12/15/25(d)

      1,406       1,353,275  
     

 

 

 
        23,609,725  
Diversified Financial Services — 2.2%  

Aircastle Ltd.:

     

7.63%, 04/15/20

      128       136,640  

5.13%, 03/15/21

      643       658,271  

5.50%, 02/15/22

      2,471       2,569,840  

Arrow Global Finance PLC:

     

5.13%, 09/15/24

    GBP       325       419,078  

(3 mo. Euribor + 2.88%), 2.88%, 04/01/25(c)

    EUR       254       288,313  

3.75%, 03/01/26(e)

      117       134,043  

Banca IFIS SpA:

     

2.00%, 04/24/23

      210       236,041  

4.50%, 10/17/27(e)

      375       407,706  

Barclays PLC(5 year EUR Swap + 2.45%), 2.63%, 11/11/25(h)

      200       239,383  

Cabot Financial Luxembourg SA:

     

6.50%, 04/01/21

    GBP       100       134,530  

7.50%, 10/01/23

      220       305,618  

DPL, Inc., 7.25%, 10/15/21

    USD       230       250,700  

FBM Finance, Inc., 8.25%, 08/15/21(d)

      2,660       2,784,488  
 

 

8   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Diversified Financial Services (continued)  

Garfunkelux Holdco 3 SA, 4.50%, 09/01/23(e)

    EUR       220     $ 240,515  

HSBC Holdings PLC, 6.25%(e)(j)

    USD       3,490       3,493,490  

Intrum Justitia AB:

     

2.75%, 07/15/22

    EUR       437       500,727  

3.13%, 07/15/24

      110       125,130  

Jefferies Finance LLC/JFIN Co-Issuer Corp.(d):

     

7.38%, 04/01/20

    USD       2,695       2,711,844  

6.88%, 04/15/22

      2,552       2,536,050  

Lehman Brother Holding Escrow,
1.00%, 09/22/18(b)(i)

      430       13,330  

Lehman Brothers Holdings, Inc.(b)(e)(i):

     

5.38%, 10/17/18

    EUR       350       15,139  

4.75%, 01/16/19

      1,890       81,752  

1.00%, 02/05/19

      3,950       170,857  

1.00%, 12/31/49

    USD       1,535       47,585  

LHC3 PLC, (4.13% Cash or 4.88% PIK), 4.13%, 08/15/24(g)

    EUR       584       689,457  

Lincoln Finance Ltd., 6.88%, 04/15/21

      100       120,936  

Mercury Bondco PLC(g):

     

(7.13% Cash or 7.88% PIK), 7.13%, 05/30/21

      525       635,233  

(8.25% Cash or 9.00% PIK), 8.25%, 05/30/21

      564       687,051  

MSCI, Inc., 5.25%, 11/15/24(d)

    USD       683       689,830  

Pershing Square Holdings Ltd.,
5.50%, 07/15/22(d)

      2,100       2,094,015  

ProGroup AG(3 mo. Euribor + 2.50%),
2.50%, 03/31/24(c)

    EUR       112       130,598  

Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 6.75%, 06/01/25(d)

    USD       2,905       2,815,090  

Travelport Corporate Finance PLC,
6.00%, 03/15/26(d)

      1,106       1,111,530  

UniCredit SpA:

     

6.95%, 10/31/22

    EUR       375       506,156  

(5 year EUR Swap + 4.10%), 5.75%, 10/28/25(h)

      700       871,909  

(5 year EUR Swap + 4.32%), 4.38%, 01/03/27(h)

      567       682,464  

Vantiv LLC/Vanity Issuer Corp.(d):

     

3.88%, 11/15/25

    GBP       357       458,442  

4.38%, 11/15/25

    USD       1,168       1,103,760  

Verisure Midholding AB, 5.75%, 12/01/23

    EUR       250       287,773  

WMG Acquisition Corp.:

     

4.13%, 11/01/24

      250       304,029  
Security     Par
(000)
    Value  
Diversified Financial Services (continued)  

WMG Acquisition Corp. (continued):

     

5.50%, 04/15/26(d)

    USD       776     $ 768,240  
     

 

 

 
        32,457,583  
Diversified Telecommunication Services — 3.3%  

CenturyLink, Inc.:

     

5.63%, 04/01/25

      1,535       1,433,398  

Series P, 7.60%, 09/15/39

      54       45,630  

Series S, 6.45%, 06/15/21

      7,518       7,696,928  

Series T, 5.80%, 03/15/22

      1,539       1,520,147  

Series U, 7.65%, 03/15/42

      743       627,835  

Series Y, 7.50%, 04/01/24

      1,587       1,631,674  

Cincinnati Bell, Inc., 7.00%, 07/15/24(d)

      2,236       2,001,220  

Embarq Corp., 8.00%, 06/01/36

      318       302,100  

Frontier Communications Corp.:

     

7.13%, 03/15/19

      1,445       1,463,062  

10.50%, 09/15/22

      430       387,000  

7.13%, 01/15/23

      957       702,199  

6.88%, 01/15/25

      1,579       1,010,560  

11.00%, 09/15/25

      5,535       4,428,000  

Level 3 Financing, Inc.:

     

5.38%, 08/15/22

      243       243,000  

5.63%, 02/01/23

      1,971       1,987,655  

5.13%, 05/01/23

      1,292       1,262,995  

5.38%, 01/15/24

      1,521       1,482,975  

5.38%, 05/01/25

      2,469       2,388,757  

5.25%, 03/15/26

      5,020       4,771,510  

OTE PLC, 3.50%, 07/09/20

    EUR       370       447,061  

Qwest Corp., 6.75%, 12/01/21

    USD       680       730,969  

SoftBank Group Corp.:

     

(5 year USD ICE Swap + 4.85%), 6.88%(h)(j)

      1,935       1,746,337  

4.00%, 04/20/23

    EUR       500       600,892  

4.75%, 07/30/25

      315       377,474  

Telecom Italia Capital SA:

     

6.38%, 11/15/33

    USD       831       843,465  

6.00%, 09/30/34

      6,039       5,767,245  

7.20%, 07/18/36

      958       1,017,875  

7.72%, 06/04/38

      134       148,405  

Telecom Italia Finance SA, 7.75%, 01/24/33

    EUR       280       461,446  

Telecom Italia SpA:

     

1.13%, 03/26/22(k)

      300       332,899  

3.25%, 01/16/23

      300       373,489  

5.88%, 05/19/23

    GBP       400       590,876  

3.63%, 01/19/24

    EUR       200       253,365  
     

 

 

 
        49,078,443  
Electric Utilities — 0.2%  

AES Corp., 5.50%, 04/15/25

    USD       628       634,280  

NextEra Energy Operating Partners LP,
4.25%, 09/15/24(d)

      1,225       1,169,875  
 

 

 

     9  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Electric Utilities (continued)  

Talen Energy Supply LLC, 6.50%, 06/01/25

    USD       1,782     $ 1,380,515  
     

 

 

 
        3,184,670  
Electrical Equipment — 0.0%  

Areva SA, 4.88%, 09/23/24

    EUR       550       692,416  
     

 

 

 
Electronic Equipment, Instruments & Components — 0.8%  

CDW LLC/CDW Finance Corp.:

     

5.00%, 09/01/23

    USD       3,624       3,660,240  

5.50%, 12/01/24

      6,605       6,803,150  

5.00%, 09/01/25

      714       705,289  

Itron, Inc., 5.00%, 01/15/26(d)

      231       221,760  
     

 

 

 
        11,390,439  
Energy Equipment & Services — 2.1%  

Calfrac Holdings LP, 8.50%, 06/15/26(d)

      1,653       1,642,173  

CSI Compressco LP/CSI Compressco Finance, Inc., 7.50%, 04/01/25(d)

      2,137       2,147,685  

Ensco PLC, 5.20%, 03/15/25

      270       226,125  

Gates Global LLC/Gates Global Co.,
6.00%, 07/15/22(d)

      2,780       2,807,800  

McDermott Escrow 1, Inc./McDermott Escrow 2, Inc., 10.63%, 05/01/24(d)

      1,560       1,630,200  

Noble Holding International Ltd., 7.95%, 04/01/25

      292       266,421  

Pattern Energy Group, Inc., 5.88%, 02/01/24(d)

      935       946,688  

Pioneer Energy Services Corp., 6.13%, 03/15/22

      1,431       1,359,450  

Precision Drilling Corp.:

     

6.50%, 12/15/21

      530       540,706  

5.25%, 11/15/24

      600       564,000  

SESI LLC, 7.75%, 09/15/24

      1,389       1,441,087  

Transocean, Inc.:

     

8.38%, 12/15/21

      1,185       1,270,912  

5.80%, 10/15/22

      1,573       1,565,135  

9.00%, 07/15/23(d)

      5,675       6,114,812  

6.80%, 03/15/38

      703       592,278  

Trinidad Drilling Ltd., 6.63%, 02/15/25(d)

      2,272       2,164,080  

USA Compression Partners LP/USA Compression Finance Corp.,
6.88%, 04/01/26(d)

      1,705       1,756,150  

Weatherford International Ltd.:

     

7.75%, 06/15/21

      3,818       3,875,270  

8.25%, 06/15/23

      914       886,580  
     

 

 

 
        31,797,552  
Environmental, Maintenance, & Security Service — 0.3%  

Hulk Finance Corp., 7.00%, 06/01/26(d)

      1,654       1,604,380  

Paprec Holding SA, 3.50%, 03/31/25(e)

    EUR       100       117,490  
Security     Par
(000)
    Value  
Environmental, Maintenance, & Security Service (continued)  

Tervita Escrow Corp., 7.63%, 12/01/21(d)

    USD       2,397     $ 2,420,970  
     

 

 

 
        4,142,840  
Food & Staples Retailing — 0.4%  

Albertsons Cos. LLC/Safeway, Inc./New Albertson’s, Inc./Albertson’s LLC:

     

6.63%, 06/15/24

      874       821,822  

5.75%, 03/15/25

      1,011       889,882  

B&M European Value Retail SA, 4.13%, 02/01/22

    GBP       225       304,494  

Casino Guichard Perrachon SA:

     

4.56%, 01/25/23

    EUR       200       244,693  

4.50%, 03/07/24

      400       477,763  

Post Holdings, Inc., 5.63%, 01/15/28(d)

    USD       484       456,170  

Rite Aid Corp., 6.13%, 04/01/23(d)

      2,735       2,803,375  

Tesco PLC:

     

5.00%, 03/24/23

    GBP       100       148,140  

5.50%, 01/13/33

      3       4,706  
     

 

 

 
        6,151,045  
Food Products — 1.1%  

Acosta, Inc., 7.75%, 10/01/22(d)

    USD       1,307       780,933  

Aramark Services, Inc.:

     

5.13%, 01/15/24

      1,104       1,121,112  

5.00%, 02/01/28(d)

      2,829       2,722,912  

B&G Foods, Inc., 5.25%, 04/01/25

      971       912,740  

Chobani LLC/Chobani Finance Corp., Inc.,
7.50%, 04/15/25(d)

      1,818       1,749,825  

Darling Global Finance BV, 4.75%, 05/30/22

    EUR       100       119,313  

JBS USA LLC/JBS USA Finance, Inc.(d):

     

5.88%, 07/15/24

    USD       402       384,915  

5.75%, 06/15/25

      4,490       4,175,700  

Pilgrim’s Pride Corp.(d):

     

5.75%, 03/15/25

      1,548       1,493,820  

5.88%, 09/30/27

      414       389,160  

Post Holdings, Inc. (d):

     

5.50%, 03/01/25

      1,572       1,548,420  

5.75%, 03/01/27

      1,161       1,122,908  
     

 

 

 
        16,521,758  
Forest Products — 0.1%  

JBS USA LUX SA/JBS USA Finance, Inc.,
6.75%, 02/15/28(d)

      1,884       1,780,380  
     

 

 

 
Health Care Equipment & Supplies — 2.2%  

Avantor, Inc.:

     

4.75%, 10/01/24

    EUR       430       505,008  

6.00%, 10/01/24(d)

    USD       9,247       9,200,765  

9.00%, 10/01/25(d)

      2,620       2,705,150  
 

 

10   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Health Care Equipment & Supplies (continued)  

Crimson Merger Sub, Inc., 6.63%, 05/15/22(d)

    USD       9,068     $ 8,960,726  

DJO Finco, Inc./DJO Finance LLC/DJO Finance Corp., 8.13%, 06/15/21(d)

      7,102       7,146,387  

Mallinckrodt International Finance SA/Mallinckrodt CB LLC(d):

     

4.88%, 04/15/20

      1,110       1,068,375  

5.75%, 08/01/22

      2,210       1,911,650  

5.63%, 10/15/23

      67       55,359  

5.50%, 04/15/25

      916       730,602  

Teleflex, Inc., 4.88%, 06/01/26

      684       666,900  
     

 

 

 
        32,950,922  
Health Care Providers & Services — 7.0%  

Acadia Healthcare Co., Inc.:

     

5.13%, 07/01/22

      408       408,000  

5.63%, 02/15/23

      974       984,958  

6.50%, 03/01/24

      1,734       1,794,690  

Amsurg Corp., 5.63%, 07/15/22

      4,779       4,868,606  

Centene Corp.:

     

5.63%, 02/15/21

      2,080       2,135,557  

4.75%, 05/15/22

      2,467       2,491,670  

Centene Escrow I Corp., 5.38%, 06/01/26(d)

      8,250       8,338,275  

CHS/Community Health Systems, Inc., 6.25%, 03/31/23

      1,990       1,855,675  

Constantin Investissement 3 SASU,
5.38%, 04/15/25

    EUR       100       109,160  

DaVita, Inc., 5.00%, 05/01/25

    USD       1,938       1,836,836  

Eagle Holding Co. II LLC, (7.63% Cash or 8.38% PIK), 7.63%, 05/15/22(d)(g)

      1,776       1,798,555  

Envision Healthcare Corp.(d):

     

5.13%, 07/01/22

      373       373,933  

6.25%, 12/01/24

      1,060       1,118,512  

HCA, Inc.:

     

5.88%, 03/15/22

      7,879       8,282,799  

4.75%, 05/01/23

      2,521       2,536,756  

5.00%, 03/15/24

      5,515       5,554,708  

5.38%, 02/01/25

      4,731       4,648,208  

5.25%, 04/15/25

      1,679       1,687,395  

5.88%, 02/15/26

      1,216       1,223,612  

5.25%, 06/15/26

      4,345       4,328,706  

4.50%, 02/15/27

      670       634,825  

5.50%, 06/15/47

      7,321       6,826,832  

HealthSouth Corp., 5.75%, 11/01/24

      1,170       1,187,550  

MEDNAX, Inc., 5.25%, 12/01/23(d)

      790       778,150  

Molina Healthcare, Inc., 4.88%, 06/15/25(d)

      685       650,750  

MPH Acquisition Holdings LLC,
7.13%, 06/01/24(d)

      3,886       4,031,725  

NVA Holdings, Inc., 6.88%, 04/01/26(d)

      1,625       1,601,113  

Polaris Intermediate Corp., (8.50% Cash), 8.50%, 12/01/22(d)(g)

      5,399       5,581,216  
Security     Par
(000)
    Value  
Health Care Providers & Services (continued)  

Regional Care Hospital Partners Holdings, Inc., 8.25%, 05/01/23(d)

    USD       1,287     $ 1,349,741  

Sterigenics-Nordion Holdings LLC,
6.50%, 05/15/23(d)

      1,012       1,024,650  

Surgery Center Holdings, Inc.(d):

     

8.88%, 04/15/21

      1,066       1,092,650  

6.75%, 07/01/25

      1,254       1,169,355  

Tenet Healthcare Corp.:

     

4.75%, 06/01/20

      210       210,987  

6.00%, 10/01/20

      4,540       4,687,550  

7.50%, 01/01/22(d)

      1,284       1,345,247  

8.13%, 04/01/22

      5,090       5,325,412  

6.75%, 06/15/23

      1,575       1,567,125  

4.63%, 07/15/24(d)

      5,392       5,183,060  

Unilabs Subholding AB, 5.75%, 05/15/25

    EUR       173       196,037  

Vizient, Inc., 10.38%, 03/01/24(d)

    USD       1,875       2,062,500  

WellCare Health Plans, Inc., 5.25%, 04/01/25

      706       704,235  
     

 

 

 
        103,587,321  
Health Care Technology — 0.3%  

Change Healthcare Holdings LLC/Change Healthcare Finance, Inc.,
5.75%, 03/01/25(d)

      1,852       1,770,975  

Quintiles IMS, Inc.:

     

3.25%, 03/15/25(d)

    EUR       350       403,502  

3.25%, 03/15/25

      1,370       1,579,420  
     

 

 

 
        3,753,897  
Hotels, Restaurants & Leisure — 4.5%  

Boyne USA, Inc., 7.25%, 05/01/25(d)

    USD       508       528,320  

Burger King France SAS:

     

(3 mo. Euribor + 5.25%), 5.25%, 05/01/23(c)

    EUR       305       358,984  

6.00%, 05/01/24

      325       404,706  

Churchill Downs, Inc., 4.75%, 01/15/28(d)

    USD       630       587,475  

Cirsa Funding Luxembourg SA:

     

5.75%, 05/15/21

    EUR       100       119,672  

5.88%, 05/15/23

      100       119,815  

Codere Finance 2 Luxembourg SA, 7.63%, 11/01/21(d)

    USD       400       384,920  

CPUK Finance Ltd.:

     

4.25%, 02/28/47

    GBP       274       366,098  

4.88%, 02/28/47

      153       204,594  

CRC Escrow Issuer LLC/CRC Finco, Inc., 5.25%, 10/15/25(d)

    USD       3,113       2,972,915  

EI Group PLC, 6.38%, 02/15/22

    GBP       110       151,931  

Eldorado Resorts, Inc., 6.00%, 04/01/25

    USD       812       807,940  

ESH Hospitality, Inc., 5.25%, 05/01/25(d)

      1,918       1,842,431  

GLP Capital LP/GLP Financing II, Inc.:

     

5.38%, 11/01/23

      256       263,680  
 

 

 

     11  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Hotels, Restaurants & Leisure (continued)  

5.25%, 06/01/25

    USD       228     $ 228,406  

5.38%, 04/15/26

      950       942,623  

Golden Nugget, Inc., 6.75%, 10/15/24(d)

      2,648       2,677,790  

International Game Technology PLC, 4.75%, 02/15/23

    EUR       110       138,489  

KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC(d):

     

5.00%, 06/01/24

    USD       255       251,813  

5.25%, 06/01/26

      1,878       1,835,745  

4.75%, 06/01/27

      790       742,600  

Ladbrokes Group Finance PLC, 5.13%, 09/08/23

    GBP       220       304,887  

Melco Resorts Finance Ltd., 4.88%, 06/06/25(d)

    USD       1,847       1,748,578  

MGM Resorts International:

     

5.25%, 03/31/20

      822       839,467  

6.75%, 10/01/20

      887       935,829  

6.63%, 12/15/21

      1,724       1,827,440  

7.75%, 03/15/22

      2,209       2,418,855  

4.63%, 09/01/26

      3,124       2,889,700  

New Red Finance, Inc.(d):

     

4.25%, 05/15/24

      3,189       3,021,577  

5.00%, 10/15/25

      8,040       7,617,900  

Sabre GLBL, Inc.(d):

     

5.38%, 04/15/23

      1,516       1,531,463  

5.25%, 11/15/23

      745       746,788  

Schumann SpA, 7.00%, 07/31/23

    EUR       410       482,521  

Scientific Games International, Inc.:

     

10.00%, 12/01/22

    USD       9,118       9,779,146  

5.00%, 10/15/25(d)

      2,619       2,527,335  

3.38%, 02/15/26

    EUR       900       1,017,951  

5.50%, 02/15/26

      142       159,672  

Six Flags Entertainment Corp.(d):

     

4.88%, 07/31/24

    USD       3,413       3,293,545  

5.50%, 04/15/27

      301       291,880  

Snai SpA, 6.38%, 11/07/21

    EUR       200       243,747  

Station Casinos LLC, 5.00%, 10/01/25(d)

    USD       2,555       2,455,355  

Stonegate Pub Co. Financing PLC:

     

4.88%, 03/15/22

    GBP       187       245,829  

(3 mo. LIBOR GBP + 4.38%),
4.98%, 03/15/22(c)

      150       197,857  

Unique Pub Finance Co. PLC, Series N,
6.46%, 03/30/32

      1,000       1,293,841  

Vue International Bidco PLC, 7.88%, 07/15/20

      520       695,583  

Wyndham Hotels & Resorts, Inc.,
5.38%, 04/15/26(d)

    USD       527       525,683  
Security     Par
(000)
    Value  
Hotels, Restaurants & Leisure (continued)  

Wyndham Worldwide Corp.:

     

4.15%, 04/01/24

    USD       1,161     $ 1,148,064  

5.10%, 10/01/25

      31       32,049  

4.50%, 04/01/27

      205       202,393  

Wynn Macau Ltd.(d):

     

4.88%, 10/01/24

      860       819,580  

5.50%, 10/01/27

      980       945,700  

Yum! Brands, Inc., 3.88%, 11/01/23

      721       688,555  
     

 

 

 
        66,859,717  
Household Durables — 2.1%  

Algeco Scotsman Global Finance PLC,
8.00%, 02/15/23(d)

      2,692       2,685,270  

K Hovnanian Enterprises, Inc.,
10.00%, 07/15/22(d)

      1,273       1,352,562  

Lennar Corp.:

     

4.50%, 11/15/19

      2,482       2,503,717  

6.63%, 05/01/20(d)

      1,160       1,210,750  

8.38%, 01/15/21(d)

      2,810       3,091,000  

4.75%, 04/01/21

      314       317,046  

4.13%, 01/15/22

      1,014       1,000,686  

4.75%, 11/15/22

      1,542       1,534,444  

4.88%, 12/15/23

      968       965,580  

5.25%, 06/01/26(d)

      302       295,960  

4.75%, 11/29/27(d)

      2,510       2,340,575  

Mattamy Group Corp.(d):

     

6.88%, 12/15/23

      1,062       1,092,533  

6.50%, 10/01/25

      1,107       1,094,236  

MDC Holdings, Inc., 6.00%, 01/15/43

      1,106       991,253  

Meritage Homes Corp., 5.13%, 06/06/27

      404       377,740  

PulteGroup, Inc., 6.38%, 05/15/33

      2,805       2,861,100  

Tempur Sealy International, Inc.,
5.50%, 06/15/26

      2,203       2,125,895  

Toll Brothers Finance Corp., 6.75%, 11/01/19

      220       228,250  

TRI Pointe Group, Inc.:

     

4.38%, 06/15/19

      1,060       1,060,000  

4.88%, 07/01/21

      1,275       1,278,187  

5.88%, 06/15/24

      770       765,919  

5.25%, 06/01/27

      530       494,066  

William Lyon Homes, Inc.:

     

6.00%, 09/01/23 (d)

      366       365,543  

5.88%, 01/31/25

      769       731,281  
     

 

 

 
        30,763,593  
Household Products — 0.2%  

Diamond (BC) BV, 5.63%, 08/15/25

    EUR       149       154,732  

Prestige Brands, Inc., 6.38%, 03/01/24(d)

    USD       2,034       2,003,490  
 

 

12   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Household Products (continued)  

Spectrum Brands, Inc., 6.63%, 11/15/22

    USD       1,385     $ 1,431,397  
     

 

 

 
        3,589,619  
Independent Power and Renewable Electricity Producers — 2.4%  

AES Corp.:

     

4.50%, 03/15/23

      1,021       1,021,000  

4.88%, 05/15/23

      79       79,198  

6.00%, 05/15/26

      1,880       1,938,750  

5.13%, 09/01/27

      2,370       2,334,450  

Calpine Corp.:

     

6.00%, 01/15/22(d)

      251       255,393  

5.38%, 01/15/23

      1,558       1,483,995  

5.88%, 01/15/24(d)

      1,903       1,898,242  

5.25%, 06/01/26(d)

      4,767       4,504,815  

Dynegy, Inc.:

     

7.38%, 11/01/22

      1,935       2,032,524  

5.88%, 06/01/23

      183       187,804  

8.00%, 01/15/25(d)

      2,213       2,395,572  

8.13%, 01/30/26(d)

      1,136       1,245,340  

MPM Escrow LLC, 8.88%, 10/15/20(b)(e)

      3,738        

NRG Energy, Inc.:

     

6.25%, 07/15/22

      1,384       1,425,520  

6.25%, 05/01/24

      469       484,243  

6.63%, 01/15/27

      7,549       7,794,342  

5.75%, 01/15/28(d)

      1,736       1,714,300  

NRG Yield Operating LLC, 5.38%, 08/15/24

      1,789       1,780,055  

TerraForm Power Operating LLC(d):

     

4.25%, 01/31/23

      1,191       1,149,315  

6.63%, 06/15/25(l)

      140       149,100  

5.00%, 01/31/28

      1,185       1,118,344  
     

 

 

 
        34,992,302  
Industrial Conglomerates — 0.4%  

Algeco Global Finance PLC, 6.50%, 02/15/23

    EUR       500       599,138  

Apergy Corp., 6.38%, 05/01/26(d)

    USD       641       652,218  

BWX Technologies, Inc., 5.38%, 07/15/26(d)

      659       665,590  

Colfax Corp., 3.25%, 05/15/25

    EUR       489       573,947  

Vertiv Group Corp., 9.25%, 10/15/24(d)

    USD       3,730       3,655,400  
     

 

 

 
        6,146,293  
Insurance — 1.2%  

Acrisure LLC/Acrisure Finance, Inc.,
7.00%, 11/15/25(d)

      1,183       1,103,147  

Ardonagh Midco 3 PLC:

     

8.38%, 07/15/23

    GBP       500       686,051  

8.63%, 07/15/23(d)

    USD       2,812       2,903,390  

Assicurazioni Generali SpA(h):

     

(3 mo. Euribor + 7.11%), 7.75%, 12/12/42

    EUR       300       421,654  
Security     Par
(000)
    Value  
Insurance (continued)  

(3 mo. Euribor + 5.35%), 5.50%, 10/27/47

    EUR       200     $ 253,672  

AssuredPartners, Inc., 7.00%, 08/15/25(d)

    USD       441       431,078  

BNP Paribas Cardif SA(3 mo. Euribor + 3.93%), 4.03%(h)(j)

    EUR       100       122,492  

Credit Agricole Assurances SA(5 year EUR Swap + 4.35%), 4.50%(h)(j)

      200       248,071  

Delta Lloyd NV(3 mo. Euribor + 3.90%),
4.38%(h)(j)

      190       234,465  

Groupama SA, 6.00%, 01/23/27

      300       419,869  

HUB International Ltd., 7.00%, 05/01/26(d)

    USD       3,533       3,535,826  

USIS Merger Sub, Inc., 6.88%, 05/01/25(d)

      544       548,080  

Wayne Merger Sub LLC, 8.25%, 08/01/23(d)

      7,033       7,261,572  
     

 

 

 
        18,169,367  
Internet Software & Services — 0.9%  

Equinix, Inc.:

     

5.38%, 01/01/22

      1,110       1,141,912  

2.88%, 03/15/24

    EUR       395       457,273  

5.88%, 01/15/26

    USD       3,247       3,307,881  

Netflix, Inc.:

     

5.38%, 02/01/21

      210       216,300  

5.50%, 02/15/22

      2,087       2,151,280  

4.38%, 11/15/26

      473       444,625  

3.63%, 05/15/27

    EUR       274       317,277  

5.88%, 11/15/28(d)

    USD       2,567       2,580,605  

Symantec Corp., 5.00%, 04/15/25(d)

      1,596       1,545,263  

United Group BV:

     

4.38%, 07/01/22

    EUR       258       308,069  

(3 mo. Euribor + 4.38%), 4.38%, 07/01/23(c)

      395       462,121  

ZPG PLC, 3.75%, 07/15/23

    GBP       268       367,043  
     

 

 

 
        13,299,649  
IT Services — 2.2%  

First Data Corp.(d):

     

7.00%, 12/01/23

    USD       6,737       7,058,355  

5.75%, 01/15/24

      18,420       18,489,075  

Gartner, Inc., 5.13%, 04/01/25(d)

      1,176       1,167,180  

WEX, Inc., 4.75%, 02/01/23(d)

      5,476       5,489,690  
     

 

 

 
        32,204,300  
Leisure Products — 0.2%  

Mattel, Inc.:

     

6.75%, 12/31/25(d)

      1,907       1,857,513  

6.20%, 10/01/40

      566       486,647  
 

 

 

     13  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Leisure Products (continued)  

5.45%, 11/01/41

    USD       332     $ 266,364  
     

 

 

 
        2,610,524  
Machinery — 0.8%  

Platin 1426 GmbH, 5.38%, 06/15/23

    EUR       258       296,415  

SPX FLOW, Inc.(d):

     

5.63%, 08/15/24

    USD       993       980,588  

5.88%, 08/15/26

      993       978,105  

Terex Corp., 5.63%, 02/01/25(d)

      4,399       4,366,007  

Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26(d)

      3,689       3,504,550  

Wabash National Corp., 5.50%, 10/01/25(d)

      1,510       1,464,700  
     

 

 

 
        11,590,365  
Media — 12.8%  

Altice Financing SA(d):

     

6.63%, 02/15/23

      2,401       2,366,906  

7.50%, 05/15/26

      4,574       4,373,887  

Altice France SA(d):

     

6.00%, 05/15/22

      5,489       5,468,416  

7.38%, 05/01/26

      9,068       8,818,630  

Altice Luxembourg SA:

     

7.25%, 05/15/22

    EUR       574       667,570  

7.75%, 05/15/22(d)

    USD       6,688       6,420,480  

6.25%, 02/15/25

    EUR       150       170,572  

Altice US Finance I Corp.(d):

     

5.38%, 07/15/23

    USD       7,810       7,692,850  

5.50%, 05/15/26

      1,711       1,643,073  

AMC Networks, Inc.:

     

5.00%, 04/01/24

      1,165       1,127,196  

4.75%, 08/01/25

      2,152       2,017,500  

Block Communications, Inc., 6.88%, 02/15/25(d)

      685       690,138  

Cablevision Systems Corp., 8.00%, 04/15/20

      2,224       2,346,320  

Capital Stage Finance BV, 5.25%(e)(j)(k)

    EUR       100       126,667  

CBS Radio, Inc., 7.25%, 11/01/24(d)

    USD       399       383,040  

CCO Holdings LLC/CCO Holdings Capital
Corp.(d):

     

4.00%, 03/01/23

      1,937       1,850,067  

5.13%, 05/01/23

      137       136,144  

5.13%, 05/01/27

      15,268       14,294,665  

5.00%, 02/01/28

      2,146       1,985,050  

Cequel Communications Holdings I LLC/Cequel Capital Corp.(d):

     

5.13%, 12/15/21

      6,425       6,393,206  

7.75%, 07/15/25

      6,642       6,874,470  

7.50%, 04/01/28

      3,080       3,083,850  
Security     Par
(000)
    Value  
Media (continued)  

Clear Channel International BV,
8.75%, 12/15/20(d)

    USD       4,201     $ 4,358,537  

Clear Channel Worldwide Holdings, Inc.:

     

6.50%, 11/15/22

      15,259       15,577,210  

Series B, 7.63%, 03/15/20

      6,065       6,065,000  

CSC Holdings LLC:

     

7.63%, 07/15/18

      351       352,755  

10.13%, 01/15/23(d)

      4,866       5,395,177  

5.25%, 06/01/24

      4,789       4,526,563  

6.63%, 10/15/25(d)

      419       432,618  

10.88%, 10/15/25(d)

      11,138       12,906,157  

DISH DBS Corp.:

     

6.75%, 06/01/21

      74       74,000  

5.88%, 07/15/22

      2,966       2,782,108  

5.00%, 03/15/23

      1,948       1,679,585  

5.88%, 11/15/24

      3,024       2,512,793  

7.75%, 07/01/26

      4,963       4,286,791  

DISH Network Corp., 3.38%, 08/15/26(k)

      1,514       1,342,645  

eircom Finance DAC, 4.50%, 05/31/22

    EUR       300       357,799  

GTT Communications, Inc., 7.88%, 12/31/24(d)

    USD       2,446       2,446,000  

Hughes Satellite Systems Corp.:

     

7.63%, 06/15/21

      595       633,675  

5.25%, 08/01/26

      2,908       2,766,235  

Intelsat Jackson Holdings SA:

     

7.25%, 10/15/20

      2,603       2,550,940  

5.50%, 08/01/23

      2,702       2,362,561  

9.75%, 07/15/25(d)

      3,508       3,639,550  

LGE HoldCo VI BV, 7.13%, 05/15/24

    EUR       300       377,019  

MDC Partners, Inc., 6.50%, 05/01/24(d)

    USD       2,003       1,772,655  

Meredith Corp., 6.88%, 02/01/26(d)

      776       783,760  

Midcontinent Communications/Midcontinent Finance Corp., 6.88%, 08/15/23(d)

      1,100       1,157,750  

Numericable Group SA, 5.38%, 05/15/22

    EUR       280       334,699  

Qualitytech LP/QTS Finance Corp.,
4.75%, 11/15/25(d)

    USD       1,450       1,353,068  

Radiate Holdco LLC/Radiate Finance, Inc.,
6.88%, 02/15/23(d)

      390       370,500  

Sirius XM Radio, Inc.(d):

     

4.63%, 05/15/23

      230       226,263  

5.00%, 08/01/27

      1,010       959,641  

TEGNA, Inc.:

     

5.13%, 10/15/19

      457       458,143  

5.50%, 09/15/24(d)

      344       345,720  

Tele Columbus AG, 3.88%, 05/02/25

    EUR       200       225,627  

Telenet Finance Luxembourg Notes Sarl,
5.50%, 03/01/28(d)

    USD       1,800       1,746,310  

Telenet Finance VI Luxembourg SCA,
4.88%, 07/15/27

    EUR       351       445,413  
 

 

14   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Media (continued)  

Telesat Canada/Telesat LLC, 8.88%, 11/15/24(d)

    USD       2,154     $ 2,342,475  

Tribune Media Co., 5.88%, 07/15/22

      172       173,935  

Unitymedia GmbH, 3.75%, 01/15/27

    EUR       300       368,251  

Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH:

     

5.63%, 04/15/23

      146       174,944  

3.50%, 01/15/27

      200       245,851  

6.25%, 01/15/29

      800       1,053,240  

Univision Communications, Inc.(d):

     

5.13%, 05/15/23

    USD       2,315       2,193,462  

5.13%, 02/15/25

      1,200       1,105,080  

UPCB Finance IV Ltd.:

     

5.38%, 01/15/25(d)

      992       952,320  

4.00%, 01/15/27

    EUR       400       481,596  

UPCB Finance VII Ltd., 3.63%, 06/15/29

      160       184,183  

Videotron Ltd., 5.13%, 04/15/27(d)

    USD       2,383       2,305,552  

Virgin Media Finance PLC:

     

4.50%, 01/15/25

    EUR       183       216,375  

5.75%, 01/15/25(d)

    USD       4,788       4,530,645  

Virgin Media Receivables Financing Notes I DAC, 5.50%, 09/15/24

    GBP       678       892,427  

Virgin Media Receivables Financing Notes II DAC, 5.75%, 04/15/23

      250       337,323  

Virgin Media Secured Finance PLC:

     

5.13%, 01/15/25

      210       284,859  

4.88%, 01/15/27

      309       401,537  

6.25%, 03/28/29

      829       1,158,511  

Ziggo Bond Finance BV:

     

4.63%, 01/15/25

    EUR       300       351,466  

5.88%, 01/15/25(d)

    USD       2,643       2,497,635  

Ziggo Secured Finance BV:

     

4.25%, 01/15/27

    EUR       260       304,265  

5.50%, 01/15/27(d)

    USD       1,158       1,105,543  
     

 

 

 
        190,197,439  
Metals & Mining — 5.5%  

Alcoa Nederland Holding BV(d):

     

7.00%, 09/30/26

      681       733,778  

6.13%, 05/15/28

      608       624,720  

Big River Steel LLC/BRS Finance Corp.,
7.25%, 09/01/25(d)

      1,407       1,465,039  

Cleveland-Cliffs, Inc., 4.88%, 01/15/24(d)

      1,222       1,193,747  

CONSOL Energy, Inc., 11.00%, 11/15/25(d)

      2,194       2,405,173  

Constellium NV:

     

5.75%, 05/15/24(d)

      1,392       1,343,280  

6.63%, 03/01/25(d)

      1,231       1,226,384  

4.25%, 02/15/26

    EUR       151       175,337  

5.88%, 02/15/26(d)

    USD       3,427       3,264,217  
Security     Par
(000)
    Value  
Metals & Mining (continued)  

First Quantum Minerals Ltd.(d):

     

7.25%, 05/15/22

    USD       791     $ 795,944  

6.50%, 03/01/24

      413       392,350  

Freeport-McMoRan, Inc.:

     

3.10%, 03/15/20

      2,976       2,935,080  

4.00%, 11/14/21

      2,078       2,057,220  

3.55%, 03/01/22

      5,170       4,995,512  

3.88%, 03/15/23

      6,256       6,013,643  

5.40%, 11/14/34

      689       633,880  

5.45%, 03/15/43

      7,358       6,640,595  

Grinding Media, Inc./Moly-Cop AltaSteel Ltd., 7.38%, 12/15/23(d)

      2,662       2,809,688  

Joseph T Ryerson & Son, Inc., 11.00%, 05/15/22(d)

      1,378       1,519,245  

Kaiser Aluminum Corp., 5.88%, 05/15/24

      773       794,258  

Novelis Corp.(d):

     

6.25%, 08/15/24

      8,460       8,566,596  

5.88%, 09/30/26

      5,671       5,558,147  

Nyrstar Netherlands Holdings BV,
6.88%, 03/15/24

    EUR       530       597,911  

Ovako AB, 5.00%, 10/05/22

      400       476,479  

Steel Dynamics, Inc.:

     

5.25%, 04/15/23

    USD       949       964,421  

5.50%, 10/01/24

      1,540       1,570,800  

4.13%, 09/15/25

      1,275       1,204,875  

5.00%, 12/15/26

      470       464,736  

SunCoke Energy Partners LP/SunCoke Energy Partners Finance Corp., 7.50%, 06/15/25(d)

      1,660       1,684,900  

Teck Resources Ltd.:

     

4.50%, 01/15/21

      902       909,893  

3.75%, 02/01/23

      2,259       2,182,781  

8.50%, 06/01/24(d)

      4,081       4,514,606  

5.20%, 03/01/42

      2,547       2,305,035  

5.40%, 02/01/43

      3,691       3,404,947  

ThyssenKrupp AG:

     

2.75%, 03/08/21

    EUR       100       122,530  

1.38%, 03/03/22

      675       793,064  

2.50%, 02/25/25

      100       122,035  

United States Steel Corp.:

     

6.88%, 08/15/25

    USD       1,912       1,955,402  

6.25%, 03/15/26

      2,091       2,072,076  
     

 

 

 
        81,490,324  
Multi-Utilities — 0.2%  

NGL Energy Partners LP/NGL Energy Finance Corp.:

     

5.13%, 07/15/19

      980       980,000  
 

 

 

     15  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Multi-Utilities (continued)  

6.88%, 10/15/21

    USD       1,624     $ 1,640,240  
   

 

 

 
        2,620,240  
Multiline Retail — 0.1%  

Neiman Marcus Group Ltd., 8.00%, 10/15/21(d)

      1,214       868,010  
   

 

 

 
Offshore Drilling & Other Services — 0.1%  

Entegris, Inc., 4.63%, 02/10/26(d)

      1,250       1,198,438  
   

 

 

 
Oil, Gas & Consumable Fuels — 14.0%  

Aker BP ASA, 5.88%, 03/31/25(d)

      1,616       1,664,480  

Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., 7.88%, 12/15/24

      801       839,048  

Andeavor Logistics LP, Series A, 6.88%(e)(j)

      2,138       2,138,428  

Antero Midstream Partners LP/Antero Midstream Finance Corp., 5.38%, 09/15/24

      385       377,300  

Antero Resources Corp.:

     

5.13%, 12/01/22

      744       747,720  

5.63%, 06/01/23

      644       653,660  

Ascent Resources Utica Holdings LLC/ARU Finance Corp., 10.00%, 04/01/22(d)

      1,471       1,585,003  

Berry Petroleum Co. LLC, 7.00%, 02/15/26(d)

      845       859,788  

California Resources Corp., 8.00%, 12/15/22(d)

      2,740       2,418,269  

Callon Petroleum Co.:

     

6.13%, 10/01/24

      2,758       2,782,132  

6.38%, 07/01/26(d)

      1,042       1,042,000  

Calumet Specialty Products Partners LP/Calumet Finance Corp.:

     

6.50%, 04/15/21

      124       121,985  

7.63%, 01/15/22

      1,484       1,467,305  

Carrizo Oil & Gas, Inc.:

     

6.25%, 04/15/23

      1,544       1,563,300  

8.25%, 07/15/25

      819       872,235  

Cheniere Corpus Christi Holdings LLC:

     

7.00%, 06/30/24

      1,928       2,111,179  

5.88%, 03/31/25

      2,359       2,462,206  

5.13%, 06/30/27

      4,791       4,761,056  

Cheniere Energy Partners LP, 5.25%, 10/01/25(d)

      2,610       2,538,225  

Chesapeake Energy Corp.:

     

5.75%, 03/15/23

      216       203,040  

8.00%, 01/15/25

      475       472,031  

8.00%, 06/15/27

      5,527       5,485,547  

CNX Resources Corp., 5.88%, 04/15/22

      8,321       8,393,809  
Security     Par
(000)
    Value  
Oil, Gas & Consumable Fuels (continued)  

CONSOL Energy, Inc., 8.00%, 04/01/23

    USD       315     $ 334,688  

Covey Park Energy LLC/Covey Park Finance Corp., 7.50%, 05/15/25(d)

      2,884       2,855,160  

Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 6.25%, 04/01/23

      385       391,738  

CrownRock LP/CrownRock Finance, Inc., 5.63%, 10/15/25(d)

      5,254       5,109,620  

DCP Midstream LLC(d):

     

6.45%, 11/03/36

      1,258       1,336,625  

6.75%, 09/15/37

      1,490       1,592,437  

DEA Finance SA, 7.50%, 10/15/22

    EUR       330       414,026  

Denbury Resources, Inc., 9.25%, 03/31/22(d)

    USD       3,335       3,543,437  

Diamond Offshore Drilling, Inc.,
7.88%, 08/15/25

      620       640,150  

Diamondback Energy, Inc.:

     

4.75%, 11/01/24

      928       895,520  

5.38%, 05/31/25

      559       553,410  

Eclipse Resources Corp., 8.88%, 07/15/23

      550       517,000  

Endeavor Energy Resources LP/EER Finance,
Inc.(d):

     

5.50%, 01/30/26

      570       558,600  

5.75%, 01/30/28

      1,188       1,167,210  

Energy Transfer Equity LP:

     

7.50%, 10/15/20

      665       716,538  

4.25%, 03/15/23

      2,490       2,412,187  

5.88%, 01/15/24

      1,441       1,495,038  

5.50%, 06/01/27

      1,126       1,141,483  

Ensco PLC, 7.75%, 02/01/26

      2,928       2,788,920  

EP Energy LLC/Everest Acquisition
Finance, Inc.:

     

9.38%, 05/01/20

      122       118,950  

9.38%, 05/01/24(d)

      2,321       1,822,681  

8.00%, 11/29/24(d)

      221       218,790  

7.75%, 05/15/26(d)

      2,875       2,925,312  

Extraction Oil & Gas, Inc.(d):

     

7.38%, 05/15/24

      1,181       1,237,098  

5.63%, 02/01/26

      2,613       2,501,947  

Genesis Energy LP/Genesis Energy Finance Corp.:

     

6.50%, 10/01/25

      716       689,150  

6.25%, 05/15/26

      1,040       977,600  

Great Western Petroleum LLC/Great Western Finance, Inc., 9.00%, 09/30/21(d)

      2,055       2,111,512  

Gulfport Energy Corp.:

     

6.63%, 05/01/23

      1,334       1,340,670  

6.00%, 10/15/24

      490       460,600  

6.38%, 05/15/25

      318       305,277  

6.38%, 01/15/26

      889       848,995  
 

 

16   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Oil, Gas & Consumable Fuels (continued)  

Halcon Resources Corp., Series WI,
6.75%, 02/15/25

    USD       3,919     $ 3,683,860  

Hess Infrastructure Partners LP/Hess Infrastructure Partners Finance Corp.,
5.63%, 02/15/26(d)

      2,470       2,482,350  

Indigo Natural Resources LLC, 6.88%, 02/15/26(d)

      612       584,460  

Jagged Peak Energy LLC, 5.88%, 05/01/26(d)

      1,039       1,026,013  

Matador Resources Co., 6.88%, 04/15/23

      4       4,185  

MEG Energy Corp.(d):

     

6.38%, 01/30/23

      1,897       1,712,042  

7.00%, 03/31/24

      1,592       1,436,780  

6.50%, 01/15/25

      3,410       3,417,468  

Murphy Oil Corp.:

     

6.88%, 08/15/24

      2,221       2,354,260  

5.75%, 08/15/25

      106       105,735  

5.88%, 12/01/42

      247       225,573  

Nabors Industries, Inc.:

     

4.63%, 09/15/21

      303       296,940  

5.75%, 02/01/25(d)

      780       739,050  

Neptune Energy Bondco PLC, 6.63%, 05/15/25(d)

      250       248,125  

New Enterprise Stone & Lime Co., Inc.,
6.25%, 03/15/26(d)

      480       482,400  

Newfield Exploration Co.:

     

5.63%, 07/01/24

      345       363,872  

5.38%, 01/01/26

      1,628       1,674,805  

NGPL PipeCo LLC(d):

     

4.38%, 08/15/22

      1,254       1,252,433  

4.88%, 08/15/27

      1,223       1,187,411  

7.77%, 12/15/37

      3,517       4,132,475  

Noble Holding International Ltd.:

     

7.75%, 01/15/24

      2,169       2,033,437  

7.88%, 02/01/26(d)

      4,810       4,900,187  

Oasis Petroleum, Inc.:

     

6.88%, 03/15/22

      839       851,585  

6.88%, 01/15/23

      153       155,295  

Paramount Resources Ltd., 6.88%, 06/30/23(d)

      1,869       1,934,415  

Parkland Fuel Corp., 6.00%, 04/01/26(d)

      308       304,920  

Parsley Energy LLC/Parsley Finance Corp.(d):

     

6.25%, 06/01/24

      458       472,885  

5.38%, 01/15/25

      2,170       2,142,875  

5.25%, 08/15/25

      532       516,040  

5.63%, 10/15/27

      1,353       1,336,088  

PBF Holding Co. LLC/ PBF Finance Corp.,
7.25%, 06/15/25

      1,424       1,476,973  

PDC Energy, Inc.:

     

6.13%, 09/15/24

      250       254,375  
Security     Par
(000)
    Value  
Oil, Gas & Consumable Fuels (continued)  

5.75%, 05/15/26(d)

    USD       1,240     $ 1,227,600  

Petroleos Mexicanos, 5.38%, 03/13/22

      270       276,726  

Precision Drilling Corp., 7.13%, 01/15/26(d)

      2,023       2,063,460  

QEP Resources, Inc.:

     

6.88%, 03/01/21

      88       93,280  

5.38%, 10/01/22

      2,610       2,654,892  

5.63%, 03/01/26

      1,594       1,522,270  

Range Resources Corp.:

     

5.88%, 07/01/22

      1,933       1,947,497  

5.00%, 08/15/22

      530       524,700  

5.00%, 03/15/23

      37       35,890  

4.88%, 05/15/25

      1,963       1,845,220  

Resolute Energy Corp., 8.50%, 05/01/20

      2,474       2,477,092  

Rockies Express Pipeline LLC(d):

     

5.63%, 04/15/20

      695       713,904  

6.88%, 04/15/40

      2,796       3,215,400  

Rowan Cos., Inc.:

     

4.88%, 06/01/22

      195       182,569  

4.75%, 01/15/24

      519       445,043  

7.38%, 06/15/25

      2,847       2,726,002  

RSP Permian, Inc., 6.63%, 10/01/22

      2,395       2,496,787  

Sanchez Energy Corp.:

     

7.75%, 06/15/21

      4,922       4,231,345  

6.13%, 01/15/23

      1,822       1,197,965  

7.25%, 02/15/23(d)

      1,169       1,147,081  

SESI LLC, 7.13%, 12/15/21

      655       667,281  

Seven Generations Energy Ltd., 5.38%, 09/30/25(d)

      3,462       3,340,830  

SM Energy Co.:

     

6.50%, 11/15/21

      845       859,788  

6.13%, 11/15/22

      1,620       1,644,300  

6.50%, 01/01/23

      1,339       1,359,085  

5.00%, 01/15/24

      318       298,125  

5.63%, 06/01/25

      324       310,230  

6.75%, 09/15/26

      112       113,960  

Southwestern Energy Co.:

     

6.70%, 01/23/25(e)

      696       683,820  

7.50%, 04/01/26

      1,942       2,010,009  

7.75%, 10/01/27

      1,161       1,213,245  

Sunoco LP/Sunoco Finance Corp.(d):

     

4.88%, 01/15/23

      2,733       2,610,042  

5.88%, 03/15/28

      808       759,116  

Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.(d):

     

5.50%, 09/15/24

      3,177       3,192,885  

5.50%, 01/15/28

      1,823       1,761,474  

Targa Resources Partners LP/Targa Resources Partners Finance Corp.:

     

5.25%, 05/01/23

      78       78,585  

4.25%, 11/15/23

      845       804,863  

5.13%, 02/01/25

      548       541,150  
 

 

 

     17  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Oil, Gas & Consumable Fuels (continued)  

5.88%, 04/15/26(d)

    USD       1,817     $ 1,825,522  

5.00%, 01/15/28(d)

      2,308       2,168,828  

Transocean, Inc., 7.50%, 01/15/26(d)

      1,151       1,166,826  

Tullow Oil PLC, 7.00%, 03/01/25(d)

      400       397,500  

Weatherford International Ltd.:

     

6.50%, 08/01/36

      1,021       796,380  

7.00%, 03/15/38

      1,523       1,210,785  

5.95%, 04/15/42

      959       709,660  

Whiting Petroleum Corp.,
6.63%, 01/15/26(d)

      2,063       2,111,996  

WildHorse Resource Development Corp.:

     

6.88%, 02/01/25(d)

      890       908,913  

6.88%, 02/01/25

      898       917,083  

Williams Cos., Inc.:

     

4.55%, 06/24/24

      1,614       1,620,052  

8.75%, 03/15/32

      239       310,700  

5.75%, 06/24/44

      3,751       3,929,172  

WPX Energy, Inc.:

     

6.00%, 01/15/22

      229       240,450  

8.25%, 08/01/23

      1,245       1,413,075  

5.25%, 09/15/24

      754       746,460  

5.75%, 06/01/26

      1,068       1,065,981  
   

 

 

 
        208,184,321  
Oil: Crude Producers — 0.1%  

MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc., 4.50%, 01/15/28

      2,133       1,914,368  
   

 

 

 
Paper & Forest Products — 0.1%  

Norbord, Inc., 6.25%, 04/15/23(d)

      1,711       1,788,457  

Stora Enso OYJ, 2.50%, 06/07/27

    EUR       200       238,732  
   

 

 

 
        2,027,189  
Pharmaceuticals — 3.6%  

Charles River Laboratories International, Inc., 5.50%, 04/01/26(d)

    USD       809       812,034  

Endo Finance LLC/Endo Finco, Inc.(d):

     

7.25%, 01/15/22

      1,176       1,018,710  

6.00%, 07/15/23

      931       684,285  

Ephios Bondco PLC, 6.25%, 07/01/22

    EUR       675       811,796  

Ephios Holdco II PLC, 8.25%, 07/01/23

      159       196,446  

inVentiv Group Holdings, Inc./inVentiv Health, Inc./inVentiv Health Clinical, Inc.,
7.50%, 10/01/24(d)

    USD       878       926,290  

Jaguar Holding Co. II/Pharmaceutical Product Development LLC, 6.38%, 08/01/23(d)

      10,081       10,133,925  
Security     Par
(000)
    Value  
Pharmaceuticals (continued)  

Nidda Healthcare Holding AG, 3.50%, 09/30/24

    EUR       150     $ 170,097  

Synlab Bondco PLC, 6.25%, 07/01/22

      210       252,559  

Team Health Holdings, Inc.,
6.38%, 02/01/25(d)

    USD       3,148       2,730,890  

Teva Pharmaceutical Finance Netherlands III BV, 1.70%, 07/19/19

      2,360       2,306,026  

Valeant Pharmaceuticals International, Inc.:

     

7.50%, 07/15/21(d)

      1,841       1,875,519  

6.75%, 08/15/21(d)

      2,471       2,496,451  

5.63%, 12/01/21(d)

      724       717,484  

6.50%, 03/15/22(d)

      2,043       2,123,086  

7.25%, 07/15/22(d)

      64       64,973  

5.50%, 03/01/23(d)

      3,974       3,699,198  

4.50%, 05/15/23

    EUR       2,225       2,458,699  

5.88%, 05/15/23(d)

    USD       4,358       4,118,310  

7.00%, 03/15/24(d)

      3,210       3,362,475  

6.13%, 04/15/25(d)

      5,024       4,647,200  

5.50%, 11/01/25(d)

      3,365       3,301,906  

9.25%, 04/01/26(d)

      610       640,274  

8.50%, 01/31/27(d)(f)

      3,455       3,517,622  
   

 

 

 
        53,066,255  
Real Estate Investment Trusts (REITs) — 1.4%  

Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25(d)

      985       1,004,700  

Hilton Domestic Operating Co., Inc.:

     

4.25%, 09/01/24

      1,684       1,604,010  

5.13%, 05/01/26(d)

      1,426       1,388,568  

Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.63%, 04/01/25

      350       337,750  

iStar, Inc.:

     

4.63%, 09/15/20

      221       217,961  

6.00%, 04/01/22

      901       901,000  

5.25%, 09/15/22

      1,012       982,905  

MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc.:

     

5.63%, 05/01/24

      9,671       9,767,710  

4.50%, 09/01/26

      1,700       1,559,750  

MPT Operating Partnership LP/MPT Finance Corp., 5.00%, 10/15/27

      745       700,345  

NH Hotel Group SA, 3.75%, 10/01/23

    EUR       262       318,008  

Starwood Property Trust, Inc.:

     

5.00%, 12/15/21

    USD       1,695       1,720,425  
 

 

18   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Real Estate Investment Trusts (REITs) (continued)  

4.75%, 03/15/25(d)

    USD       776     $ 746,667  
   

 

 

 
        21,249,799  
Real Estate Management & Development — 0.6%  

ADLER Real Estate AG:

     

4.75%, 04/08/20

    EUR       32       38,627  

2.13%, 02/06/24

      325       371,348  

Akelius Residential Property AB,
3.88%, 10/05/78(e)

      125       145,291  

Aroundtown Property Holdings PLC,
1.50%, 01/18/21(k)

      100       152,415  

Greystar Real Estate Partners LLC,
5.75%, 12/01/25(d)

    USD       1,158       1,129,050  

Howard Hughes Corp., 5.38%, 03/15/25(d)

      1,568       1,515,080  

Realogy Group LLC/Realogy Co-Issuer
Corp.(d):

     

4.50%, 04/15/19

      806       806,000  

5.25%, 12/01/21

      2,296       2,313,220  

4.88%, 06/01/23

      1,235       1,160,900  

RESIDOMO Sro, 3.38%, 10/15/24

    EUR       420       487,313  

Summit Germany Ltd., 2.00%, 01/31/25

      145       163,576  
   

 

 

 
        8,282,820  
Restaurants — 0.1%  

IRB Holding Corp., 6.75%, 02/15/26(d)

    USD       937       885,465  
   

 

 

 
Road & Rail — 0.9%  

Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.13%, 06/01/22(d)

      927       909,758  

Avis Budget Finance PLC, 4.13%, 11/15/24

    EUR       250       297,187  

EC Finance PLC, 2.38%, 11/15/22

      203       236,019  

Europcar Drive Designated Activity Co.,
4.13%, 11/15/24

      387       442,809  

Europcar Groupe SA, 5.75%, 06/15/22

      110       131,914  

Flexi-Van Leasing, Inc., 10.00%, 02/15/23(d)

    USD       1,094       1,033,830  

Herc Rentals, Inc.(d):

     

7.50%, 06/01/22

      1,406       1,486,845  

7.75%, 06/01/24

      1,201       1,291,075  

Hertz Corp., 7.63%, 06/01/22(d)

      2,628       2,568,870  

Hertz Holdings Netherlands BV,
5.50%, 03/30/23

    EUR       443       510,739  

Loxam SAS:

     

3.50%, 04/15/22

      168       202,444  

3.50%, 05/03/23

      150       180,583  

4.25%, 04/15/24

      100       122,867  

6.00%, 04/15/25

      108       136,042  

United Rentals North America, Inc.:

     

4.63%, 07/15/23

    USD       944       951,080  
Security     Par
(000)
    Value  
Road & Rail (continued)  

4.63%, 10/15/25

    USD       2,460     $ 2,363,937  

Watco Cos. LLC/Watco Finance Corp.,
6.38%, 04/01/23(d)

      1,093       1,118,959  
   

 

 

 
        13,984,958  
Semiconductors & Semiconductor Equipment — 0.7%  

Advanced Micro Devices, Inc.:

     

7.50%, 08/15/22

      422       461,077  

7.00%, 07/01/24

      409       430,473  

Micron Technology, Inc., 5.50%, 02/01/25

      58       60,340  

Microsemi Corp., 9.13%, 04/15/23(d)

      134       148,238  

NXP BV/NXP Funding LLC(d):

     

4.13%, 06/01/21

      1,448       1,459,005  

4.63%, 06/15/22

      1,319       1,347,029  

3.88%, 09/01/22

      1,138       1,130,176  

4.63%, 06/01/23

      928       946,374  

Sensata Technologies BV(d):

     

5.63%, 11/01/24

      903       937,991  

5.00%, 10/01/25

      3,297       3,305,242  
   

 

 

 
        10,225,945  
Software — 4.4%  

BMC Software Finance, Inc.,
8.13%, 07/15/21(d)

      2,715       2,783,146  

CDK Global, Inc., 4.88%, 06/01/27

      1,890       1,781,325  

Genesys Telecommunications Laboratories Inc/Greeneden Lux 3 Sarl/Greeneden US Holdings LLC, 10.00%, 11/30/24(d)

      3,875       4,286,719  

Infinity Acquisition LLC/Infinity Acquisition Finance Corp., 7.25%, 08/01/22(d)

      1,444       1,478,295  

Infor Software Parent LLC/Infor Software Parent, Inc., (7.13% Cash or 7.88% PIK),
7.13%, 05/01/21(d)(g)

      3,521       3,538,605  

Infor US, Inc., 6.50%, 05/15/22

      11,511       11,698,054  

Informatica LLC, 7.13%, 07/15/23(d)

      5,308       5,387,620  

Nuance Communications, Inc.:

     

5.38%, 08/15/20(d)

      356       357,335  

6.00%, 07/01/24

      1,630       1,638,150  

5.63%, 12/15/26

      1,410       1,374,750  

PTC, Inc., 6.00%, 05/15/24

      1,996       2,095,800  

Rackspace Hosting, Inc., 8.63%, 11/15/24(d)

      1,573       1,600,527  

RP Crown Parent LLC, 7.38%, 10/15/24(d)

      2,666       2,745,980  

Solera LLC/Solera Finance, Inc.,
10.50%, 03/01/24(d)

      10,971       12,174,519  

Sophia LP/Sophia Finance, Inc.,
9.00%, 09/30/23(d)

      1,553       1,638,415  
 

 

 

     19  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Software (continued)  

TIBCO Software, Inc., 11.38%, 12/01/21(d)

    USD       7,252     $ 7,886,550  

Veritas US, Inc./Veritas Bermuda Ltd.(d):

     

7.50%, 02/01/23

      1,938       1,855,635  

10.50%, 02/01/24

      838       714,395  
   

 

 

 
        65,035,820  
Specialty Retail — 0.7%  

Asbury Automotive Group, Inc.,
6.00%, 12/15/24

      2,505       2,479,950  

Catalent Pharma Solutions, Inc.,
4.88%, 01/15/26(d)

      1,907       1,835,869  

Group 1 Automotive, Inc., 5.25%, 12/15/23(d)

      264       257,400  

Hexion US Finance Corp., 6.63%, 04/15/20

      658       620,988  

JC Penney Corp., Inc.:

     

8.13%, 10/01/19

      46       47,668  

6.38%, 10/15/36

      554       310,240  

L Brands, Inc.:

     

6.88%, 11/01/35

      2,579       2,343,666  

6.75%, 07/01/36

      384       345,600  

Masaria Investments SAU, 5.00%, 09/15/24

    EUR       186       214,236  

Penske Automotive Group, Inc.:

     

5.75%, 10/01/22

    USD       729       745,402  

5.50%, 05/15/26

      346       340,810  

PVH Corp., 3.13%, 12/15/27

    EUR       542       621,569  

Shop Direct Funding PLC, 7.75%, 11/15/22

    GBP       340       354,351  
   

 

 

 
        10,517,749  
Technology Hardware, Storage & Peripherals — 0.8%  

Dell International LLC/EMC Corp.(d):

     

7.13%, 06/15/24

    USD       4,522       4,858,725  

6.02%, 06/15/26

      1,390       1,466,891  

Western Digital Corp., 4.75%, 02/15/26

      5,217       5,132,224  
   

 

 

 
        11,457,840  
Textiles, Apparel & Luxury Goods — 0.0%  

BiSoho SAS, 5.88%, 05/01/23

    EUR       97       133,834  

Springs Industries, Inc., 6.25%, 06/01/21

    USD       274       278,603  
   

 

 

 
        412,437  
Thrifts & Mortgage Finance — 0.2%  

Jerrold Finco PLC:

     

6.25%, 09/15/21

    GBP       225       306,432  

6.13%, 01/15/24

      545       729,945  
Security     Par
(000)
    Value  
Thrifts & Mortgage Finance (continued)  

Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.(d):

     

5.25%, 03/15/22

    USD       352     $ 352,000  

5.25%, 10/01/25

      2,176       2,029,120  
   

 

 

 
        3,417,497  
Trading Companies & Distributors — 0.0%  

Ashtead Capital, Inc., 5.63%, 10/01/24(d)

      278       285,645  
   

 

 

 
Transportation — 0.0%  

JB Poindexter & Co., Inc., 7.13%, 04/15/26(d)

      651       660,765  
   

 

 

 
Transportation Infrastructure — 0.1%  

CEVA Group PLC, (9.00% Cash or 3.00% PIK), 9.00%, 09/01/20(d)(g)

      95       99,465  

WFS Global Holding SAS, 9.50%, 07/15/22

    EUR       565       691,729  
   

 

 

 
        791,194  
Utilities — 0.0%  

ContourGlobal Power Holdings SA,
5.13%, 06/15/21

      300       356,029  
   

 

 

 
Wireless Telecommunication Services — 5.3%  

CoreCivic, Inc., 4.75%, 10/15/27

    USD       1,135       1,041,362  

CyrusOne LP/CyrusOne Finance Corp.:

     

5.00%, 03/15/24

      3,400       3,404,250  

5.38%, 03/15/27

      325       326,625  

Digicel Group Ltd.(d):

     

8.25%, 09/30/20

      1,222       925,665  

7.13%, 04/01/22

      324       225,504  

Digicel Ltd., 6.00%, 04/15/21(d)

      5,564       5,098,015  

Equinix, Inc., 2.88%, 10/01/25

    EUR       420       471,342  

Frontier Communications Corp.,
8.50%, 04/01/26(d)

    USD       2,694       2,609,812  

GEO Group, Inc.:

     

5.88%, 01/15/22

      350       355,687  

5.13%, 04/01/23

      184       180,955  

5.88%, 10/15/24

      2,146       2,119,325  

6.00%, 04/15/26

      630       615,825  

Iron Mountain, Inc., 3.00%, 01/15/25

    EUR       150       171,850  

Matterhorn Telecom SA:

     

3.88%, 05/01/22

      635       750,770  

4.00%, 11/15/27

      405       453,445  

Radiate Holdco LLC/Radiate Finance, Inc.,
6.63%, 02/15/25(d)

    USD       1,539       1,412,032  

SBA Communications Corp.:

     

4.00%, 10/01/22(d)

      2,644       2,538,240  

4.88%, 09/01/24

      2,489       2,324,129  
 

 

20   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Wireless Telecommunication Services (continued)  

Sprint Capital Corp.:

     

6.90%, 05/01/19

    USD       640     $ 657,536  

8.75%, 03/15/32

      23       24,754  

Sprint Communications, Inc., 7.00%, 03/01/20(d)

      6,062       6,336,305  

Sprint Corp.:

     

7.88%, 09/15/23

      5,424       5,692,488  

7.13%, 06/15/24

      18,397       18,534,951  

7.63%, 02/15/25

      7,432       7,654,960  

7.63%, 03/01/26

      115       118,163  

T-Mobile USA, Inc.:

     

4.00%, 04/15/22

      1,337       1,330,315  

6.50%, 01/15/24

      2,638       2,756,710  

6.38%, 03/01/25

      994       1,038,631  

6.50%, 01/15/26

      1,549       1,616,769  

4.50%, 02/01/26

      1,630       1,532,200  

4.75%, 02/01/28

      2,764       2,584,340  

Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 8.25%, 10/15/23

      2,418       2,356,825  

VICI Properties 1 LLC/VICI FC, Inc., 8.00%, 10/15/23

      1,327       1,473,164  

Vodafone Group PLC, Series VOD, 0.00%, 11/26/20(k)(m)

    GBP       200       254,002  

Wind Tre SpA:

     

2.63%, 01/20/23

    EUR       170       170,915  

2.75%, 01/20/24(e)

      110       108,342  

3.13%, 01/20/25

      210       204,001  
     

 

 

 
        79,470,204  
     

 

 

 

Total Corporate Bonds — 114.2%
(Cost — $1,714,866,946)

 

    1,697,598,390  
     

 

 

 

Floating Rate Loan Interests (c) — 15.7%

 

Aerospace & Defense — 0.3%  

Accudyne Industries LLC, 2017 Term Loan, (1 mo. LIBOR + 3.25% 1.00% Floor), 5.23%, 08/18/24

    USD       3,154       3,160,343  

Sequa Mezzanine Holdings LLC, 2nd Lien Term Loan, (2 mo. LIBOR + 9.00% 1.00% Floor),
10.97%, 04/28/22(b)

      385       384,037  

WP CPP Holdings LLC, 2018 Term Loan, 04/30/25(n)

      330       331,340  
     

 

 

 
        3,875,720  
Air Freight & Logistics — 0.2%  

CEVA Group PLC, Letter of Credit, (3 mo. LIBOR + 5.50%),
6.50%, 03/19/21(b)

      1,022       1,036,927  
Security          Par
(000)
    Value  
Air Freight & Logistics (continued)  

CEVA Intercompany BV, Dutch Term Loan, (3 mo. LIBOR + 5.50% 1.00% Floor), 7.86%, 03/19/21

    USD       359     $ 358,181  

CEVA Logistics Canada ULC, Canadian Term Loan, (3 mo. LIBOR + 5.50% 1.00% Floor), 7.86%, 03/19/21

      164       163,028  

CEVA Logistics US Holdings, Inc., Term Loan, (3 mo. LIBOR + 5.50% 1.00% Floor), 7.86%, 03/19/21

      1,502       1,498,382  
     

 

 

 
        3,056,518  
Airlines — 0.1%  

Northwest Airlines, Inc., Term Loan, (6 mo. LIBOR + 1.23%), 3.30%, 09/10/18(b)

      812       805,965  
     

 

 

 
Auto Components — 0.1%  

USI, Inc., 2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 5.30%, 05/16/24

      1,083       1,080,787  
     

 

 

 
Auto Parts — 0.0%  

Mavis Tire Express Services Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 5.20%, 03/20/25

      469       465,152  
     

 

 

 
Banks — 0.1%  

Banco Espirito Santo SA, 41,362.65% - 4.75%, 01/15/19(i)

    EUR       1,900       627,488  

Capri Finance LLC, 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.25%), 5.61%, 11/01/24

    USD       655       647,165  
     

 

 

 
        1,274,653  
Building Products — 0.3%  

Ply Gem Industries, Inc., 2018 Term Loan, (3 mo. LIBOR + 3.75%), 6.09%, 04/12/25

      4,044       4,050,066  
     

 

 

 
Capital Markets — 0.1%  

Horizon Holdings III SAS, EUR Term Loan B4, (EURIBOR + 2.75%), 2.75%, 10/29/22

    EUR       1,000       1,160,598  
     

 

 

 
Chemicals — 0.4%  

Allnex (Luxembourg) & Cy S.C.A., 2016 EUR Term Loan B1, 09/13/23(n)

      1,000       1,168,466  

Alpha 3 BV, 2017 Term Loan B1, 01/31/24(n)

    USD       935       931,376  
 

 

 

     21  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Chemicals (continued)  

Axalta Coating Systems US Holdings, Inc., Term Loan, (3 mo. LIBOR + 1.75%), 4.05%, 06/01/24

    USD       1,224     $ 1,224,375  

Element Materials Technology Group US Holdings, Inc., 2017 Term Loan B, (3 mo. LIBOR + 3.50% 1.00% Floor), 5.80%, 06/28/24

      344       345,428  

Invictus US LLC:

     

1st Lien Term Loan, (2 mo. LIBOR + 3.00%), 5.10%, 03/28/25

      685       687,155  

2nd Lien Term Loan, (1 mo. LIBOR + 6.75%), 8.73%, 03/25/26

      374       377,740  

PQ Corp., 2018 Term Loan B, (1 mo. LIBOR + 2.50%), 4.48%, 02/08/25

      446       445,965  

WR Grace & Co.:

     

Term Loan B1, (3 mo. LIBOR + 1.75%), 4.06%, 04/03/25

      414       414,960  

Term Loan B2, (3 mo. LIBOR + 1.75%), 4.06%, 04/03/25

      711       711,360  
     

 

 

 
        6,306,825  
Commercial Services & Supplies — 0.4%  

Asurion LLC, 2017 2nd Lien Term Loan, (1 mo. LIBOR + 6.00%), 7.98%, 08/04/25

      577       590,560  

Silk Bidco AS, EUR Term Loan B, (EURIBOR + 4.00%), 4.00%, 02/07/25

    EUR       1,000       1,165,578  

West Corp.:

     

2017 Term Loan, (1 mo. LIBOR + 4.00% 1.00% Floor), 5.98%, 10/10/24

    USD       3,341       3,334,776  

2018 Term Loan B1, (1 mo. LIBOR + 3.50% 1.00% Floor), 5.48%, 10/10/24

      484       479,591  
     

 

 

 
        5,570,505  
Construction & Engineering — 0.8%  

Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25% 1.00% Floor), 6.61%, 06/21/24

      9,025       9,070,468  

Pike Corp., 2018 Term Loan B, (1 mo. LIBOR + 3.50% 1.00% Floor), 5.49%, 03/23/25

      825       833,549  

SRS Distribution Inc., 2018 1st Lien Term Loan B, (3 mo. LIBOR + 3.25%), 5.58%, 05/23/25

      2,268       2,256,660  
     

 

 

 
        12,160,677  
Construction Materials — 0.1%  

Filtration Group Corp., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 5.30%, 03/29/25

      363       364,634  
Security          Par
(000)
    Value  
Construction Materials (continued)  

Xella International GmbH, 2017 EUR Term Loan B, 04/11/24(n)

    EUR       1,000     $ 1,165,438  
     

 

 

 
        1,530,072  
Diversified Consumer Services — 0.6%  

Ascend Learning LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00% 1.00% Floor), 4.98%, 07/12/24

    USD       403       403,479  

CHG PPC Parent LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.75%), 4.73%, 03/31/25(b)

      693       693,000  

Gol LuxCo SA, 1st Lien Term Loan, (Fixed + 6.50%), 6.50%, 08/31/20

      3,885       3,965,925  

Laureate Education, Inc., 2017 Term Loan B, (1 mo. LIBOR + 3.50% 1.00% Floor), 5.48%, 04/26/24

      1,364       1,370,630  

Uber Technologies, 2018 Term Loan, (1 mo. LIBOR + 4.00% 1.00% Floor), 5.92%, 04/04/25

      2,888       2,904,837  
     

 

 

 
        9,337,871  
Diversified Financial Services — 0.1%  

EG Finco Ltd., 2018 Term Loan, (3 mo. LIBOR + 4.00%), 6.14%, 02/07/25

      1,017       1,013,870  
     

 

 

 
Diversified Telecommunication Services — 0.4%  

CenturyLink, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%), 4.73%, 01/31/25

      5,148       5,081,172  

Eircom Finco Sarl, EUR Term Loan B6, (EURIBOR + 3.25%), 3.25%, 04/19/24

    EUR       1,000       1,168,934  

MTN Infrastructure TopCo, Inc, 1st Lien Term Loan B, (1 mo. LIBOR + 3.00% 1.00% Floor), 4.98%, 11/15/24

    USD       379       380,173  
     

 

 

 
        6,630,279  
Electrical Equipment — 0.0%  

Generac Power Systems, Inc., 2017 1st Lien Term Loan B, (3 mo. LIBOR + 2.00%), 0.75%, 05/31/23

      75       74,911  
     

 

 

 
Energy Equipment & Services — 0.6%  

Gavilan Resources LLC, 2nd Lien Term Loan, (1 mo. LIBOR + 6.00% 1.00% Floor), 7.93%, 03/01/24

      1,779       1,741,196  

GrafTech Finance, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.50% 1.00% Floor), 5.42%, 02/12/25(b)

      1,147       1,149,868  

Pioneer Energy Services Corp., Term Loan, (1 mo. LIBOR + 7.75% 1.00% Floor), 9.68%, 11/08/22(b)

      3,921       4,068,038  
 

 

22   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Energy Equipment & Services (continued)  

Weatherford International Ltd., Term Loan, (1 mo. LIBOR + 1.42%), 3.42%, 07/13/20

    USD       1,700     $ 1,681,515  
     

 

 

 
        8,640,617  
Food & Staples Retailing — 0.2%  

Albertsons LLC, 2018 ABL Last Out Term Loan, 04/02/23(n)

      2,183       2,184,637  
Food Products — 0.3%  

Chobani LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.50% 1.00% Floor), 5.48%, 10/10/23

      396       396,500  

Froneri International PLC, 2018 EUR Term Loan B, (EURIBOR + 2.62%), 2.63%, 01/22/25

    EUR       1,000       1,169,238  

JBS USA LLC, 2017 Term Loan B, (1 mo. LIBOR + 2.50%), 4.65%, 10/30/22

    USD       2,240       2,232,347  

Sigma Bidco BV, 2018 Term Loan B, 02/23/25(n)

      124       123,532  
     

 

 

 
        3,921,617  
Health Care Equipment & Supplies — 0.6%  

CTC AcquiCo GmbH, EUR 2017 Term Loan B1, 03/07/25(n)

    EUR       1,000       1,166,011  

DJO Finance LLC, 2015 Term Loan, (1 mo. LIBOR + 3.25% 1.00% Floor), 5.40%, 06/08/20

    USD       3,310       3,317,726  

Immucor, Inc., Extended Term Loan B, (3 mo. LIBOR + 5.00% 1.00% Floor),
7.30%, 06/15/21(b)

      4,325       4,394,864  

Ortho-Clinical Diagnostics SA, Term Loan B, (3 mo. LIBOR + 3.75% 1.00% Floor), 5.73%, 06/30/21

      236       236,401  
     

 

 

 
        9,115,002  
Health Care Providers & Services — 0.3%  

HCA, Inc., 2018 Term Loan B10, (1 mo. LIBOR + 2.00%), 3.98%, 03/13/25

      931       937,210  

Quorum Health Corporation, Term Loan B, (1 mo. LIBOR + 6.75% 1.00% Floor), 8.73%, 04/29/22

      1,364       1,384,297  

Team Health Holdings, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75% 1.00% Floor), 4.73%, 02/06/24

      2,305       2,222,487  
     

 

 

 
        4,543,994  
Security          Par
(000)
    Value  
Health Care Technology — 0.0%  

Quintiles IMS, Inc., 2017 Term Loan B, (3 mo. LIBOR + 2.00%), 4.30%, 03/07/24

    USD       459     $ 459,127  
     

 

 

 
Hotels, Restaurants & Leisure — 0.6%  

Bronco Midstream Funding LLC, Term Loan B, (3 mo. LIBOR + 3.50% 1.00% Floor), 5.83%, 08/14/23(b)

      5,303       5,342,325  

GVC Holdings PLC:

     

2018 EUR Term Loan, 03/29/24(n)

    EUR       1,000       1,165,111  

2018 Term Loan, (1 mo. LIBOR + 2.50% 1.00% Floor), 4.48%, 03/29/24

    USD       936       936,777  

IRB Holding Corp., 1st Lien Term Loan, (2 mo. LIBOR + 3.25% 1.00% Floor), 5.21%, 02/05/25

      569       570,849  

Wyndham Hotels & Resorts, Inc., Term Loan B, 03/28/25(n)

      1,422       1,426,735  
     

 

 

 
        9,441,797  
Independent Power and Renewable Electricity Producers — 0.1%  

Vistra Energy Corp., 1st Lien Term Loan B3, 12/01/25(n)

      2,187       2,181,226  
     

 

 

 
Industrial Conglomerates — 0.2%  

Cortes NP Acquisition Corp., 2017 Term Loan B, (1 mo. LIBOR + 4.00% 1.00% Floor), 5.91%, 11/30/23

      1,986       1,958,137  

Sequa Mezzanine Holdings LLC, 1st Lien Term Loan, (3 mo. LIBOR + 5.00% 1.00% Floor), 7.07%, 11/28/21

      1,160       1,158,782  
     

 

 

 
        3,116,919  
Insurance — 0.4%  

Alliant Holdings I, Inc., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 4.93%, 05/09/25

      327       326,591  

AssuredPartners, Inc., 2017 1st Lien Add-On Term Loan, (1 mo. LIBOR + 3.25%), 5.23%, 10/22/24

      327       326,519  

Hub International Limited, 2018 Term Loan B, (2 mo. LIBOR + 3.00%), 5.36%, 04/25/25

      2,585       2,579,351  

Sedgwick Claims Management Services, Inc.:

     

1st Lien Term Loan, (1 mo. LIBOR + 2.75% 1.00% Floor), 4.73%, 03/01/21

      2,414       2,408,713  
 

 

 

     23  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Insurance (continued)                  

2nd Lien Term Loan, (3 mo. LIBOR + 5.75% 1.00% Floor), 7.80%, 02/28/22

    USD       887     $ 887,000  
     

 

 

 
        6,528,174  
Internet Software & Services — 0.1%  

GTT Communications, Inc., 2018 Term Loan B, 1.00%, 04/26/25

      26       25,626  

TierPoint LLC, 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75% 1.00% Floor), 5.73%, 05/06/24

      934       903,935  
     

 

 

 
        929,561  
IT Services — 0.3%  

Access CIG LLC:

     

2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.73%, 02/27/25

      404       405,826  

2018 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%), 9.73%, 02/27/26

      146       145,972  

Altran Technologies SA, EUR 1st Lien Term Loan B, (EURIBOR + 3.25%), 3.25%, 03/20/25

    EUR       734       860,570  

Blackhawk Network Holdings, Inc, 2018 1st Lien Term Loan, 05/23/25(n)

    USD       950       950,000  

Peak 10 Holding Corp.:

     

2017 1st Lien Term Loan, (3 mo. LIBOR + 3.50% 1.00% Floor), 5.80%, 08/01/24

      992       976,202  

2nd Lien Term Loan, (3 mo. LIBOR + 7.25% 1.00% Floor), 9.61%, 08/01/25

      420       421,970  
     

 

 

 
        3,760,540  
Life Sciences Tools & Services — 0.1%  

Albany Molecular Research, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25% 1.00% Floor), 5.23%, 08/30/24

      732       729,520  
     

 

 

 
Machinery — 0.4%  

Hayward Industries, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.48%, 08/05/24

      370       371,991  
Security     Par
(000)
    Value  
Machinery (continued)  

Titan Acquisition Ltd., 2018 Term Loan B, (2 mo. LIBOR + 3.00%), 5.06%, 03/28/25

    USD       5,962     $ 5,916,450  
     

 

 

 
        6,288,441  
Media — 1.8%  

Charter Communications Operating LLC, 2017 Term Loan A2, (1 mo. LIBOR + 1.50%), 3.49%, 03/31/23

      8,728       8,717,602  

Intelsat Jackson Holdings SA:

     

2017 Term Loan B3, (1 mo. LIBOR + 3.75% 1.00% Floor), 5.72%, 11/27/23

      558       560,276  

2017 Term Loan B4, (1 mo. LIBOR + 4.50% 1.00% Floor), 6.47%, 01/02/24

      1,820       1,880,752  

2017 Term Loan B5, (Fixed + 6.62%), 6.63%, 01/02/24

      10,040       10,269,844  

PSAV Holdings LLC:

     

2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25% 1.00% Floor), 5.22%, 03/01/25

      823       819,914  

2018 2nd Lien Term Loan, (3 mo. LIBOR + 7.25% 1.00% Floor), 9.26%, 09/01/25

      666       661,005  

SBA Senior Finance II LLC, 2018 Term Loan B, 04/11/25(n)

      316       315,323  

Tele Columbus AG, 2017 EUR Term Loan A, 10/15/24(n)

    EUR       1,000       1,161,253  

Unitymedia Finance LLC, USD Term Loan D, (1 mo. LIBOR + 2.25%), 4.17%, 01/15/26

    USD       710       709,411  

Unitymedia Hessen GmbH & Co. KG, 2018 Term Loan B, 05/24/23(n)

      1,023       1,020,937  
     

 

 

 
        26,116,317  
Multiline Retail — 0.2%  

EG Group Ltd.:

     

2018 EUR Delayed Draw Term Loan B, 02/06/25(n)

    EUR       336       391,292  

2018 EUR Term Loan B, (EURIBOR + 4.00%), 4.00%, 02/06/25

      664       771,587  

LSF9 Robin Investments Ltd., EUR 2017 Term Loan B4, (EURIBOR + 3.00%), 3.00%, 12/14/23

      1,000       1,167,835  
 

 

24   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Multiline Retail (continued)  

Neiman Marcus Group, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.25% 1.00% Floor), 5.17%, 10/25/20

    USD       1,415     $ 1,251,786  
     

 

 

 
        3,582,500  
Oil & Gas Equipment & Services — 0.6%  

McDermott Technology Americas, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 5.00% 1.00% Floor), 6.91%, 05/10/25

      9,392       9,464,600  
     

 

 

 
Oil, Gas & Consumable Fuels — 1.2%  

Brazos Delaware II, LLC, Term Loan B, (1 mo. LIBOR + 4.00%), 5.95%, 05/21/25

      508       507,229  

California Resources Corp., 2017 1st Lien Term Loan, (1 mo. LIBOR + 4.75%), 6.70%, 12/31/22

      4,018       4,106,717  

Chesapeake Energy Corp., Term Loan, (1 mo. LIBOR + 7.50% 1.00% Floor),
9.47%, 08/23/21

      7,832       8,221,803  

CONSOL Energy, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 6.00% 1.00% Floor), 8.32%, 10/26/22

      1,679       1,719,431  

Lucid Energy Group II LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00% 1.00% Floor), 4.93%, 02/17/25(b)

      1,063       1,052,370  

Medallion Midland Acquisition LLC, 1st Lien Term Loan, (1 mo. LIBOR + 3.25% 1.00% Floor), 5.23%, 10/30/24(b)

      967       950,871  

Vine Oil & Gas LP, Term Loan B, (1 mo. LIBOR + 6.88% 1.00% Floor), 8.86%, 12/12/21(b)

      1,753       1,748,617  
     

 

 

 
        18,307,038  
Pharmaceuticals — 0.6%  

Amneal Pharmaceuticals LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.50%), 5.63%, 05/04/25

      3,462       3,453,345  

Ceva Sante Animale, EUR Term Loan B, 06/30/21(f)(n)

    EUR       1,000       1,167,753  

Endo Luxembourg Finance Company I Sarl, 2017 Term Loan B, (1 mo. LIBOR + 4.25%), 6.25%, 04/29/24

    USD       1,876       1,853,752  
Security     Par
(000)
    Value  
Pharmaceuticals (continued)  

Valeant Pharmaceuticals International, Inc., 2018 Term Loan B, 05/17/25(n)

    USD       1,712     $ 1,714,790  
     

 

 

 
        8,189,640  
Professional Services — 0.0%  

Information Resources, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.25% 1.00% Floor), 6.57%, 01/18/24

      503       505,123  
     

 

 

 
Semiconductors & Semiconductor Equipment — 0.2%  

Microchip Technology Incorporated, 2018 Term Loan B, 05/29/25(n)

      3,184       3,200,716  
     

 

 

 
Software — 1.3%  

Applied Systems, Inc.:

     

2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00% 1.00% Floor), 5.30%, 09/19/24

      153       153,590  

2017 2nd Lien Term Loan, (3 mo. LIBOR + 7.00% 1.00% Floor), 9.30%, 09/19/25

      186       192,162  

BMC Software Finance, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 5.23%, 09/10/22

      2,563       2,565,591  

Cypress Intermediate Holdings III, Inc.:

     

2017 1st Lien Term Loan, (1 mo. LIBOR + 3.00% 1.00% Floor), 4.99%, 04/27/24

      762       763,282  

2017 2nd Lien Term Loan, (1 mo. LIBOR + 6.75% 1.00% Floor), 8.73%, 04/27/25

      212       212,929  

Digicel International Finance Ltd., 2017 Term Loan B, (3 mo. LIBOR + 3.25%), 5.61%, 05/28/24

      307       299,164  

Kronos, Inc., 2nd Lien Term Loan, (3 mo. LIBOR + 8.25% 1.00% Floor), 10.61%, 11/01/24

      3,634       3,761,707  

McAfee LLC, 2017 Term Loan B, (1 mo. LIBOR + 4.50% 1.00% Floor), 6.47%, 09/30/24

      1,790       1,801,443  

Mitchell International, Inc.:

     

2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25% 1.00% Floor), 5.23%, 11/29/24

      943       942,572  

2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 9.23%, 11/20/25

      920       925,364  

2017 Delayed Draw Term Loan, (1 mo. LIBOR + 3.25%), 5.22%, 11/29/24

      76       75,873  

Renaissance Learning, Inc., 2018 Add On Term Loan, 05/18/25(n)

      724       724,000  
 

 

 

     25  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  

Software (continued)

 

SS&C Technologies Holdings Europe SARL, 2018 Term Loan B4, (1 mo. LIBOR + 2.50%), 4.48%, 04/16/25

    USD       1,792     $ 1,811,371  

SS&C Technologies, Inc., 2018 Term Loan B3, (1 mo. LIBOR + 2.50%), 4.48%, 04/16/25

      4,786       4,895,733  

Tempo Acquisition LLC, Term Loan, (1 mo. LIBOR + 3.00%), 4.98%, 05/01/24

      641       640,907  
     

 

 

 
    19,765,688  
Specialty Retail — 0.1%  

Belron Finance US LLC, Term Loan B, (3 mo. LIBOR + 2.50%), 4.86%, 11/07/24

      796       798,656  

CD&R Firefly Bidco Limited, 2018 GBP Term Loan B1, 05/09/25(n)

    GBP       1,000       1,319,939  
     

 

 

 
    2,118,595  
Textiles, Apparel & Luxury Goods — 0.4%  

Ascend Performance Materials Operations LLC, Term Loan B, (1 mo. LIBOR + 5.25% 1.00% Floor), 7.31%, 08/12/22

    USD       5,255       5,264,511  
     

 

 

 
Trading Companies & Distributors — 0.1%  

Beacon Roofing Supply, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 4.18%, 01/02/25

      858       857,537  
     

 

 

 
Transportation — 0.0%  

Direct ChassisLink, Inc., 2017 2nd Lien Term Loan, (1 mo. LIBOR + 6.00%), 7.98%, 06/15/23(b)

      300       304,500  
     

 

 

 
Utilities — 0.0%  

ExGen Renewables IV LLC, Term Loan B, (3 mo. LIBOR + 3.00% 1.00% Floor), 5.31%, 11/28/24

      501       503,017  
     

 

 

 
Wireless Telecommunication Services — 1.0%  

Ligado Networks LLC, 2015 2nd Lien Term Loan, 0.00%, 12/07/20

      39,244       13,107,556  

Xplornet Communications, Inc., Term Loan B, 09/09/21(b)(n)

      1,869       1,878,662  
     

 

 

 
    14,986,218  
     

 

 

 

Total Floating Rate Loan Interests — 15.7%
(Cost — $258,545,300)

 

    233,401,641  
     

 

 

 
            Shares         

Investment Companies — 0.4%

 

Diversified Financial Services — 0.2%  

Financial Select Sector SPDR Fund

      110,107       2,992,708  
     

 

 

 
Security         
Shares
    Value  
Energy Equipment & Services — 0.2%  

SPDR S&P Oil & Gas Exploration & Production ETF

      79,711     $ 3,367,790  
     

 

 

 

Total Investment Companies — 0.4%
(Cost — $6,232,066)

 

    6,360,498  
     

 

 

 
            Par
(000)
        

Non-Agency Mortgage-Backed Securities — 0.1%

 

Commercial Mortgage-Backed Securities — 0.1%  

GAHR Commercial Mortgage Trust NRF, Series 2015-NRF, Class FFX, 3.38%, 12/15/34(d)(e)

    USD       1,095       1,076,556  
     

 

 

 

Total Non-Agency Mortgage-Backed Securities — 0.1%
(Cost — $1,062,989)

 

    1,076,556  
           

Beneficial

Interest

(000)

        

Other Interests(o) — 0.0%

 

United States — 0.0%  

Lear Corp. Escrow(b)

      1,250       12  
     

 

 

 

Total Other Interests — 0.0%
(Cost — $—)

 

    12  
     

 

 

 
            Par
(000)
        

Preferred Securities

 

Capital Trusts — 5.2%  
Aerospace — 0.0%  

Telefonica Europe BV, 2.63%(e)(j)

    EUR       300       335,824  
     

 

 

 
Auto Components — 0.2%  

General Motors Financial Co., Inc., Series A, 5.75%(e)(j)

    USD       2.167       2,110,116  
     

 

 

 
Banks — 1.1%  

ABN AMRO Bank NV(j):

     

4.75%(e)

    EUR       200       226,426  

5.75%(h)

      300       372,635  

Allied Irish Banks PLC, 7.38%(h)(j)

      210       267,596  

Banco Bilbao Vizcaya Argentaria SA,
8.88%(h)(j)

      200       264,205  

Banco Santander SA, 6.25%(h)(j)

      400       478,048  

Bankia SA, 6.00%(h)(j)

      200       237,192  

CaixaBank SA, 5.25%(e)(j)

      200       213,820  

CIT Group, Inc., Series A, 5.80%(h)(j)

    USD       1.647       1,636,706  

Citigroup, Inc.(h)(j):

     

5.95%

      1.405       1,427,831  

Series O, 5.88%

      2.405       2,471,138  
 

 

26   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Banks (continued)  

Citigroup, Inc. (continued)(h)(j):

     

Series Q, 5.95%

    USD       1.165     $ 1,206,381  

Series R, 6.13%

      615       641,138  

Cooperatieve Rabobank UA(h)(j):

    EUR      

5.50%

      200       249,592  

6.63%

      400       527,770  

Danske Bank A/S, 5.75%(h)(j)

      200       245,779  

Erste Group Bank AG, 6.50%(h)(j)

      400       510,903  

Hongkong & Shanghai Banking Corp. Ltd.,
Series 3H, 2.56%(c)(j)

    USD       400       300,016  

HSBC Holdings PLC, 6.38%(h)(j)

      210       210,263  

Intesa Sanpaolo SpA, 7.00%(h)(j)

    EUR       375       454,834  

KBC Group NV, 5.63%(h)(j)

      200       238,971  

National Westminster Bank PLC, Series C, 2.56%(e)(j)

    USD       200       160,800  

Swedbank Hypotek AB, 6.00%(h)(j)

      200       199,340  

Wells Fargo & Co.(h)(j):

     

Series S, 5.90%

      1.730       1,734,498  

Series U, 5.88%

      2.055       2,110,012  
     

 

 

 
    16,385,894  
Capital Markets — 0.9%  

Goldman Sachs Group, Inc.,
Series P, 5.00%(e)(j)

      7.660       7,284,660  

Morgan Stanley(h)(j):

     

Series H, 5.45%    

      3.309       3,371,044  

Series J, 5.55%    

      440       451,550  

UBS Group AG(h)(j):

     

5.75%

    EUR       800       1,018,243  

7.00%

    USD       425       439,157  
     

 

 

 
    12,564,654  
Chemicals — 0.1%  

Solvay Finance SA, 5.12%(h)(j)

    EUR       730       934,481  
     

 

 

 
Diversified Financial Services — 2.4%  

ATF Netherlands BV, 3.75%(h)(j)

      200       236,733  

Banco Santander SA(j):

     

4.75%(e)

      200       216,242  

6.75%(h)

      300       379,673  

Bank of America Corp.(h)(j):

     

Series AA, 6.10%

    USD       5.271       5,435,719  

Series V, 5.13%

      2.205       2,227,050  

Series X, 6.25%    

      2.874       2,989,592  

Series Z, 6.50%

      1.816       1,927,230  

Barclays PLC, 7.25%(h)(j)

    GBP       680       946,101  

BNP Paribas SA, 6.13%(h)(j)

    EUR       220       283,368  

Credit Agricole SA, 6.50%(h)(j)

      600       764,559  

Credit Suisse Group AG, 6.25%(h)(j)

    USD       300       297,750  

HBOS Capital Funding LP, 6.85%(j)

      800       807,680  

HSBC Holdings PLC, 6.00%(h)(j)

      2.298       2,200,335  

JPMorgan Chase & Co. Series Q, 5.15%(h)(j):

      850       839,375  
Security          Par
(000)
    Value  
Diversified Financial Services (continued)  

Series S, 6.75%    

    USD       5.324     $ 5,758,172  

Series U, 6.13%    

      4.228       4,365,410  

Series V, 5.00%

      3.075       3,101,906  

Series X, 6.10%

      715       732,875  

Royal Bank of Scotland Group PLC(h)(j):

     

7.50%

      200       206,000  

8.63%

      982       1,062,721  

Societe Generale SA, 8.88%(h)(j)

    GBP       200       266,527  

UBS Group Funding Switzerland AG,
5.00%(e)(j)

    USD       375       337,916  

UniCredit SpA(h)(j):

     

6.75%

    EUR       200       236,148  

9.25%

      425       557,698  
     

 

 

 
    36,176,780  
Diversified Telecommunication Services — 0.3%  

Koninklijke KPN NV(h):

     

6.13%(j)

      561       665,873  

6.88%

    GBP       230       325,242  

Telefonica Europe BV(h)(j):

     

3.75%

    EUR       200       240,591  

4.20%

      1.500       1,826,717  

6.50%

      600       713,119  

6.75%

    GBP       200       284,481  

7.63%

    EUR       300       412,967  
     

 

 

 
    4,468,990  
Electric Utilities — 0.1%  

Enel SpA, 2.50% , 11/24/2078(e)

      175       198,692  

Gas Natural Fenosa Finance BV, 4.13%(h)(j)

      100       122,326  

Origin Energy Finance Ltd., 4.00%, 09/16/2074(h)

      410       495,487  

RWE AG, 2.75% , 04/21/2075(h)

      300       356,574  
     

 

 

 
    1,173,079  
Electronic Equipment, Instruments & Components — 0.0%  

Belden, Inc., 4.13% , 10/15/2026

      200       243,195  
     

 

 

 
Insurance — 0.0%  

Groupama SA, 6.38%(h)(j)

      200       263,332  
     

 

 

 
Media — 0.0%  

NBCUniversal Enterprise, Inc., 5.25%(d)(j)

    USD       400       408,000  
     

 

 

 
Oil, Gas & Consumable Fuels — 0.1%  

Gas Natural Fenosa Finance BV, 3.38%(e)(j)

    EUR       500       581,207  

Repsol International Finance BV(h):

     

3.88%(j)

      300       368,272  

4.50%

      678       838,588  
     

 

 

 
    1,788,067  
 

 

 

     27  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

(Percentages shown are based on Net Assets)

 

Security     Par
(000)
    Value  
Real Estate — 0.0%  

AT Securities BV, 5.25%(h)(j)

    USD       500     $ 471,250  
     

 

 

 
Real Estate Management & Development — 0.0%  

Fastighets AB Balder, Series., 3.00%(e)

    EUR       100       111,937  
     

 

 

 

Total Capital Trusts — 5.2%
(Cost — $76,187,075)

 

    77,435,599  
     

 

 

 
       Shares         

Preferred Stocks — 1.5%

 

Auto Components — 0.2%  

UCI International, Inc., 0.00%

      164,729       2,985,713  
     

 

 

 
Diversified Financial Services — 0.0%  

Concrete Investments II, 0.00% (b)

      4,997       96,389  
     

 

 

 
Hotels, Restaurants & Leisure — 1.2%  

The Stars Group, Inc., 0.00% (b)(k)

      9,482       16,963,171  
     

 

 

 
Machinery — 0.1%  

Rexnord Corp., Series A, 5.75% (k)

      21,600       1,355,832  
     

 

 

 
Wireless Telecommunication Services — 0.0%  

CF-B L2 (D) LLC (Acquired 04/08/15,
cost $642,898), 0.00%(p)

      649,556       270,930  
     

 

 

 

Total Preferred Stocks — 1.5%
(Cost — $18,108,561)

 

    21,672,035  
     

 

 

 

Trust Preferred

 

Diversified Financial Services — 0.4%  

GMAC Capital Trust I, Series 2, 7.10%, 02/15/40(h)

      256,246       6,690,583  
     

 

 

 

Total Trust Preferred — 0.4%
(Cost — $6,729,957)

 

    6,690,583  
     

 

 

 

Total Preferred Securities— 7.1%
(Cost — $101,025,593)

 

  $ 105,798,217  
     

 

 

 
Security     Shares     Value  

Warrants — 0.0%

 

Metals & Mining — 0.0%  

Peninsula Energy Ltd. (Expires 12/31/18), (1 Share for 1 Warrant, Expires 12/31/18, Strike Price AUD 0.05)

      515,378     $ 1,949  
     

 

 

 
Software — 0.0%  

HMH Holdings/EduMedia (Issued/exercisable 3/09/10, 19 Shares for 1 Warrant, Expires 6/22/19, Strike Price $42.27)(b)

      6,494        
     

 

 

 

Total Warrants — 0.0%
(Cost — $65)

 

    1,949  
     

 

 

 

Total Long-Term Investments — 145.0%
(Cost — $2,227,685,547)

 

    2,154,911,650  
     

 

 

 
Short-Term Securities — 0.2%  

BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.61%(r)(s)

      2,919,307       2,919,307  
     

 

 

 

Total Short-Term Securities — 0.2%
(Cost — $2,919,307)

 

    2,919,307  
     

 

 

 

Options Purchased — 0.0%
(Cost — $324,785)

 

    122,206  
     

 

 

 

Total Investments Before Options
Written — 145.2%
(Cost — $2,230,929,639)

 

    2,157,953,163  
     

 

 

 

Options Written — (0.0)%
(Premiums Received — $257,343)

 

    (93,257
     

 

 

 

Total Investments, Net of Options
Written — 145.2%
(Cost — $2,230,672,296)

 

    2,157,859,906  

Liabilities in Excess of Other Assets — (45.2)%

 

    (671,526,730
     

 

 

 

Net Assets Applicable to Common Shares — 100.0%

 

  $ 1,486,333,176  
     

 

 

 
 
(a)  Non-income producing security.
(b)  Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(c)  Variable rate security. Rate shown is the rate in effect as of period end.
(d)  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.
(e)  Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end.
(f)  When-issued security.
(g)  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.
(h)  Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.
(i)  Issuer filed for bankruptcy and/or is in default.
(j)  Perpetual security with no stated maturity date.
(k)  Convertible security.
(l)  Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end.

 

 

28   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

 

(m)  Zero-coupon bond.
(n)  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.
(o)  Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.
(p)  Restricted security as to resale, excluding 144A securities. As of period end, the Trust held restricted securities with a current value of $813,252 and an original cost of $1,455,261, which was less than 0.20% of its net assets.
(q)  All or a portion of the security is held by a wholly-owned subsidiary.
(r)  Annualized 7-day yield as of period end.
(s)  During the period ended May 31, 2018, investments in issuers considered to be affiliates of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, and/or related parties of the Fund were as follows:

 

Affiliated Persons and/or Related Parties     


Shares

Held at
08/31/17

 


 

    
Shares
Purchased
 
 
    

Shares

Sold

 

 

    


Shares

Held at
05/31/18

 


 

    
Value at
05/31/18
 
 
    

Income

 
    

Net

Realized

Gain

(Loss)

 

 

 

 (a) 

    


Change in
Unrealized
Appreciation
(Depreciation)
 

 
 

BlackRock Liquidity Funds, T-Fund, Institutional Class

            2,919,307 (b)              2,919,307      $ 2,919,307      $ 31,467      $ 10      $  

iShares iBoxx USD High Yield Corporate Bond ETF

     349,667        85,000        (434,667                    715,198        (863,350      1,469  
              

 

 

    

 

 

    

 

 

    

 

 

 
               $ 2,919,307      $ 746,665      $ (863,340    $ 1,469  
              

 

 

    

 

 

    

 

 

    

 

 

 

 

  (a)  Includes net capital gain distributions, if applicable.  
  (b)  Represents net shares purchased.  

For Trust compliance purposes, the Trust’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

Portfolio Abbreviations

AUD — Australian Dollar

CAD — Canadian Dollar

CLO — Collateralized Loan Obligation

ETF — Exchange-Traded Fund

EUR — Euro

GBP — British Pound

LIBOR — London Interbank Offered Rate

MTN — Medium-Term Note

OTC — Over-the-Counter

PIK — Payment-In-Kind

S&P — S&P Global Ratings

SPDR — Standard & Poor’s Depository Receipts

USD — U.S. Dollar

 

     29  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

 

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description    Number of
Contracts
       Expiration
Date
       Notional
Amount (000)
       Value /
Unrealized
Appreciation
(Depreciation)
 

Long Contracts:

 

Euro Stoxx 50 Index

     4          06/15/18        $ 159        $ 4,202  

Euro Stoxx 600 Index

     6          06/15/18          57          (4,746
                 

 

 

 
          (544
                 

 

 

 

Short Contracts:

 

Euro Bund

     5          06/07/18          775          (10,748

Euro BOBL Futures

     1          06/07/18          190          (4,888

Russell 2000 E-Mini Index

     119          06/15/18          9,723          (98,824

S&P 500 E-Mini Index

     73          06/15/18          9,875          (308,564

10-Year U.S. Treasury Note

     9          09/19/18          1,084          (7,959

Long Gilt Future

     3          09/26/18          492          (6,344

5-Year U.S. Treasury Note

     4          09/28/18          456          1,186  
                 

 

 

 
          (436,141
                 

 

 

 
        $ (436,685
                 

 

 

 

Forward Foreign Currency Exchange Contracts

 

Currency

Purchased

      

Currency

Sold

       Counterparty      Settlement Date        Unrealized
Appreciation
(Depreciation)
 
CAD      372,000        USD      286,772        State Street Bank and Trust Co.        06/04/18        $ 148  
EUR      83,806,000        USD      97,843,505       

Morgan Stanley & Co. International

PLC

       06/04/18          129,946  
USD      839,352        CAD      1,077,000        Goldman Sachs International        06/04/18          8,674  
USD      219,245        EUR      186,000        Australia and New Zealand Bank Group        06/04/18          1,802  
USD      1,648,875        EUR      1,380,000        Australia and New Zealand Bank Group        06/04/18          35,585  
USD      1,131,017        EUR      960,000        Citibank N.A.        06/04/18          8,728  
USD      7,080        EUR      6,000        Goldman Sachs International        06/04/18          66  
USD      381,230        EUR      317,000        Goldman Sachs International        06/04/18          10,641  
USD      127,472        EUR      108,000        Morgan Stanley & Co. International PLC        06/04/18          1,214  
USD      109,688        EUR      93,000        Nomura International PLC        06/04/18          966  
USD      1,419,900        EUR      1,186,000        State Street Bank and Trust Co.        06/04/18          33,406  
USD      802,541        EUR      679,000        UBS AG        06/04/18          8,756  
USD      97,434,141        EUR      80,475,000        UBS AG        06/04/18          3,354,797  
USD      13,523,836        GBP      9,824,000        BNP Paribas S.A.        06/04/18          464,296  
USD      193,609        GBP      142,000        Nomura International PLC        06/04/18          4,841  
USD      992,628        AUD      1,309,000        National Australia Bank Ltd.        07/05/18          2,513  
USD      13,258,242        GBP      9,950,535        BNP Paribas S.A.        07/05/18          9,198  
                         

 

 

 
                            4,075,577  
                         

 

 

 

 

30   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

 

Forward Foreign Currency Exchange Contracts (continued)

 

Currency

Purchased

      

Currency

Sold

       Counterparty      Settlement Date        Unrealized
Appreciation
(Depreciation)
 
AUD      1,309,000        USD      992,445        National Australia Bank Ltd.        06/04/18        $ (2,513
GBP      9,950,535        USD      13,237,196        BNP Paribas S.A.        06/04/18          (9,447
USD      987,467        AUD      1,309,000        National Australia Bank Ltd.        06/04/18          (2,464
USD      287,028        CAD      372,000        State Street Bank and Trust Co.        07/05/18          (145
USD      98,079,838        EUR      83,806,000        Morgan Stanley & Co. International PLC        07/05/18          (133,298
                         

 

 

 
                            (147,867
                         

 

 

 
                          $ 3,927,710  
                         

 

 

 

Exchange-Traded Options Purchased

 

Description        Number of
Contracts
       Expiration
Date
  Exercise
Price
       Notional
Amount (000)
       Value  

Euro Stoxx 50 Index

 

       81        08/17/18     EUR        3,750.00          EUR          35        $ 1,373  

S&P 500 Index

 

       3        08/17/18     USD        2,725.00          USD          818          15,105  

S&P 500 Index

 

       11        08/17/18     USD        2,850.00          USD          3,135          7,205  
                                    

 

 

 
                                     $ 23,683  
                                    

 

 

 

OTC Options Purchased

 

Description    Counterparty     

Number of

Contracts

     Expiration
Date
  Exercise
Price
  Notional
Amount (000)
     Value  

Call

 

Marsico Parent Superholdco LLC

     Goldman Sachs & Co.        39      12/14/19     USD      942.86     USD             $  
                        

 

 

 

OTC Credit Default Swaptions Purchased

 

Description

  Paid by the Trust   Received by the Trust  

Counterparty

 

Expiration
Date

   

Exercise
Rate

    Notional
Amount (000)
   

Value

 
  Rate     Frequency   Rate     Frequency          

Call

 

     

Markit CDX North America High Yield Index, Series 30,Version 1, 06/20/23

  $ 106.50     Quarterly    
3-Month LIBOR,
2.32
 
  Quarterly   Goldman Sachs International     06/20/18     $ 106.50     USD  15,600     $ 34,242  

Markit CDX North America High Yield Index, Series 30,Version 1, 06/20/23

    107.00     Quarterly    
3-Month LIBOR,
2.32
 
 
  Quarterly   Goldman Sachs International     06/20/18       107.00     USD  84,100       64,281  
                 

 

 

 
                  $ 98,523  
                 

 

 

 

Exchange-Traded Options Written

 

Description    Number of
Contracts
       Expiration
Date
       Exercise
Price
       Notional
Amount (000)
       Value  

Call

 

S&P 500 Index

     3          08/17/18        USD     2,800.00        USD     840        $ (5,025
                          

 

 

 

 

 

     31  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

 

OTC Credit Default Swaptions Written

 

  

 

  Paid by
the Trust
  Received by
the Trust
    

 

 
Description   Rate    

Frequency

  Rate  

Frequency

  Counterparty  

Expiration

Date

   

Exercise

Price

   

Credit

Rating

 

Notional

Amount (000)

    Value  

Put

   

Markit CDX North America High Yield Index, Series 30,Version 1

  $ 103.50     Quarterly   3-Month
LIBOR,
2.32%
  Quarterly   Goldman Sachs International     06/20/18     $ 103.50     B+     USD       99,700     $ (88,232
                     

 

 

 

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)


 

Chesapeake Energy Corp.

     5.00      Quarterly        12/20/21        CCC      USD  425      $ 17,411      $ (12,677    $ 30,088  

Markit CDX North America High Yield Index, Series 30, Version 1

     5.00        Quarterly        06/20/23        N/R      USD  36,351        2,628,718        2,241,044        387,674  

Markit iTraxx XO, Series 29, Version 1

     5.00        Quarterly        06/20/23        BB-      EUR  1,500        168,469        185,220        (16,751
                 

 

 

    

 

 

    

 

 

 
                  $ 2,814,598      $ 2,413,587      $ 401,011  
                 

 

 

    

 

 

    

 

 

 

 

  (a) Using S&P/Standard & Poor’s rating of the issuer or the underlying securities of the index, as applicable.  
  (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 Credit Default Swaps — Buy Protection

 

Reference Obligation/Index   

Financing

Rate Paid

by the Trust

     Payment
Frequency
     Counterparty      Termination
Date
     Notional
Amount (000)
     Value      Upfront
Premium
Paid
(Received)
     Unrealized
Appreciation
(Depreciation)
 

Frontier Communications Corp.

     5.00      Quarterly       
Barclays Bank
PLC
 
 
     06/20/23        USD        784      $ 220,487      $ 265,639      $ (45,152
                    

 

 

    

 

 

    

 

 

 

OTC Credit Default Swaps — Sell Protection

 

Reference Obligation/Index     

Financing
Rate Received
by the Trust
 

 
   
Payment
Frequency

 
    Counterparty      
Termination
Date

 
 

Credit    

Rating (a)

   

Notional

Amount (000)

 

 (b) 

    Value      


Upfront
Premium
Paid
(Received)
 


 
   

Unrealized
Appreciation
(Depreciation)


 

Jaguar Land Rover Automotive PLC

     5.00     Quarterly       Credit Suisse International       06/20/22     BB+   EUR  150     $ 22,128     $ 24,070     $ (1,942

Saipem Finance International BV

     5.00       Quarterly       Credit Suisse International       06/20/22     BB+   EUR  200       32,424       11,978       20,446  

Casino Guichard Perrachon SA

     1.00       Quarterly       J.P. Morgan Chase Bank N.A.       12/20/22     BB+   EUR  150       (15,501     (5,955     (9,546

Fiat Chrysler Automobiles NV

     5.00       Quarterly       Citibank N.A.       12/20/22     BB+   EUR  100       18,917       19,772       (855

Jaguar Land Rover Automotive PLC

     5.00       Quarterly       Barclays Bank PLC       12/20/22     BB+   EUR  150       22,081       27,704       (5,623

Telecom Italia SpA/Milano

     1.00       Quarterly       Citibank N.A.       12/20/22     BB+   EUR  170       (6,378     (3,218     (3,160

Casino Guichard Perrachon SA

     1.00       Quarterly       JPMorgan Chase Bank N.A.       06/20/23     BB+   EUR  90       (11,118     (9,154     (1,964

Casino Guichard Perrachon SA

     1.00       Quarterly       Goldman Sachs International       06/20/23     BB+   EUR  80       (9,883     (8,311     (1,572

Deutsche Bank AG

     1.00       Quarterly       Goldman Sachs International       06/20/23     BBB-   EUR  350       (11,059     (2,947     (8,112

Intesa Sanpaolo SpA

     1.00       Quarterly       Citibank N.A.       06/20/23     BB+   EUR  240       (37,635     (37,733     98  

Intrum Justitia AB

     3.13       Quarterly       Credit Suisse International       06/20/23     BB+   EUR  110       10,799       11,234       (435

Intrum Justitia AB

     3.13       Quarterly       Credit Suisse International       06/20/23     BB+   EUR  150       14,727       16,212       (1,485

 

32   


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

 

OTC Credit Default Swaps — Sell Protection (continued)

 

Reference Obligation/Index   

Financing

Rate Received
by the Trust

   Payment
Frequency
     Counterparty       
Termination
Date

 
   
Credit
Rating (a)
 
 
    

Notional

Amount (000)

 

 (b) 

    Value       


Upfront
Premium
Paid
(Received)
 


 
    

Unrealized
Appreciation
(Depreciation)


 

Intrum Justitia AB

   3.13    Quarterly     
Morgan Stanley & Co.
International PLC
 
 
     06/20/23       BB+      EUR  200     $ 19,639      $ 23,522      $ (3,883

Intrum Justitia AB

   3.13    Quarterly     
Credit Suisse
International
 
 
     06/20/23       BB+      EUR  39       3,816        4,689        (873

Intrum Justitia AB

   3.13    Quarterly     
Morgan Stanley & Co.
International PLC
 
 
     06/20/23       BB+      EUR  131       12,878        15,812        (2,934

Jaguar Land Rover Automotive PLC

   5.00    Quarterly     
Goldman Sachs
International
 
 
     06/20/23       BB+      EUR  32       4,661        5,488        (827

TDC A/S

   3.75    Quarterly      Barclays Bank PLC        06/20/23       BB+      EUR  100       (10,056      (9,814      (242

TDC A/S

   3.75    Quarterly     
Goldman Sachs
International
 
 
     06/20/23       BB+      EUR  50       (5,028      (4,791      (237
                  

 

 

    

 

 

    

 

 

 
                   $ 55,412      $ 78,558      $ (23,146
                  

 

 

    

 

 

    

 

 

 

 

  (a) Using Standard & Poor’s rating of the issuer or the underlying securities of the index, as applicable.  
  (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      Counterparty      Effective
Date
     Termination
Date
     Notional
Amount/
Contract
Amount (000)
     Value     Upfront
Premium
Paid
(Received)
     Unrealized
Appreciation
(Depreciation)
 
Reference   Frequency      Rate     Frequency                      

iShares iBoxx $ High Yield Corporate Bond ETF

    Monthly       
1-Month LIBOR,
2.25%
 
 
    Monthly       
Goldman Sachs
International
 
 
     05/11/18        06/08/18        USD        104      $ (35,953   $ —        $ (35,953

iBoxx USD Liquid High Yield Index

    Quarterly       
3-Month LIBOR,
2.32%
 
 
    Quarterly       
Goldman Sachs
International
 
 
     03/01/18        06/20/18        USD        3,700        30,950       —          30,950  

iBoxx USD Liquid High Yield Index

    Quarterly       
3-Month LIBOR,
2.32%
 
 
    Quarterly       
Goldman Sachs
International
 
 
     02/06/18        09/20/18        USD        9,800        133,645       —          133,645  

iBoxx USD Liquid High Yield Index

    Quarterly       
3-Month LIBOR,
2.32%
 
 
    Quarterly       

Morgan Stanley &
Co. International
PLC
 
 
 
     02/07/18        09/20/18        USD        4,000        20,531       —          20,531  
                        

 

 

   

 

 

    

 

 

 
                         $ 149,173     $ —        $ 149,173  
                        

 

 

   

 

 

    

 

 

 

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

    Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access

 

    Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs)

 

    Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

 

     33  


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

  

BlackRock Corporate High Yield Fund, Inc. (HYT)

 

Fair Value Hierarchy as of Period End (continued)

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 BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its semi-annual report.

As of May 31, 2018, the following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

      Level 1        Level 2        Level 3      Total  

Assets:

 

Investments:

 

Long-Term Investments(a)

 

Asset-Backed Securities

   $        $ 59,299,280        $ 5,486,750      $ 64,786,030  

Common Stocks

     30,922,266          542,348          14,423,743        45,888,357  

Corporate Bonds

     865,983          1,696,732,407                 1,697,598,390  

Floating Rate Loan Interests

              209,591,597          23,810,044        233,401,641  

Investment Companies

     6,360,498                          6,360,498  

Non-Agency Mortgage-Backed Securities

              1,076,556                 1,076,556  

Other Interests

                       12        12  

Preferred Securities

     8,046,415          80,421,312          17,059,560        105,527,287  

Warrants

     1,949                   (b)       1,949  

Options Purchased:

               

Equity contracts

     23,683                          23,683  

Credit contracts

              98,523                 98,523  

Short-Term Securities

     2,919,307                          2,919,307  

Unfunded Floating Rate Loan Interests(a)

              154                 154  
  

 

 

      

 

 

      

 

 

    

 

 

 

Subtotal

   $ 49,140,101        $ 2,047,762,177        $ 60,780,109      $ 2,157,682,387  
  

 

 

      

 

 

      

 

 

    

 

 

 

Investments Valued at NAV(c)

                  270,930  
               

 

 

 

Total

 

   $ 2,157,953,317  
               

 

 

 

Derivative Financial Instruments (d)

               

Assets:

               

Credit contracts

   $        $ 438,306        $      $ 438,306  

Equity contracts

     4,202          185,126                 189,328  

Forward foreign currency contracts

              4,075,577                 4,075,577  

Interest rate contracts

     1,186                          1,186  

Liabilities:

               

Credit contracts

              (193,825               (193,825

Equity contracts

     (417,159                    (417,159

Forward foreign currency contracts

          (147,867           (147,867

Interest rate contracts

     (29,939        (35,953               (65,892
  

 

 

      

 

 

      

 

 

    

 

 

 
   $ (441,710      $ 4,321,364        $      $ 3,879,654  
  

 

 

      

 

 

      

 

 

    

 

 

 

 

  (a)  Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.  
  (b)  Amount is less than $1  

 

34       


Consolidated Schedule of Investments  (unaudited) (continued)

May 31, 2018

 

BlackRock Corporate High Yield Fund, Inc. (HYT)

 

  (c)  As of May 31, 2018, certain of the Fund’s investments were fair valued using net asset value (“NAV”) per share as no quoted market value is available and have been excluded from the fair value hierarchy.  
  (d)  Derivative financial instruments are swaps, futures contracts, forward foreign currency exchange contracts and options written. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value.  

During the period ended May 31, 2018, there were no transfers between Level 1 and Level 2.

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of period end, bank borrowings payable of $689,000,000 are categorized as Level 2 within the disclosure hierarchy.

A reconciliation of Level 3 investments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

 

     

Common

Stocks

    

Asset-
Backed

Securities

    

Corporate

Bonds

    

Floating

Rate Loan

Interests

    

Other

Interests

    

Preferred

Securities

     Warrants      Total  

Assets:

                       

Opening Balance, as of August 31, 2017

   $ 3,840,544      $ 2,508,240      $ 4,761,900      $ 12,998,092      $ 13      $ 19,946,198      $ 455      $ 44,055,442  

Transfers into Level 3(a)

                          9,895,414                             9,895,414  

Transfers out of Level 3(b)

            (2,508,240             (7,102,831             (2,696,614             (12,307,685

Accrued discounts/premiums

                          34,066                             34,066  

Net realized gain (loss)

                   117,268        183,055        1,276        7,341,378               7,642,977  

Net change in unrealized appreciation (depreciation)(c)

     10,583,199        (10,125      48,100        272,445               7,536,410        (455      18,429,574  

Purchases

            5,496,875               13,317,039                             18,813,914  

Sales

                   (4,927,268      (5,787,236      (1,277      (15,067,812             (25,783,593
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Closing Balance, as of May 31, 2018

   $ 14,423,743      $ 5,486,750      $      $ 23,810,044      $ 12      $ 17,059,560      $      $ 60,780,109  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Net change in unrealized appreciation (depreciation) on investments still held at May 31, 2018(c)

   $ 10,583,199      $ (10,125    $      $ 271,922      $      $ 7,536,410      $ (455    $ 18,380,951  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

  (a)  As of August 31, 2017, the Trust used observable inputs in determining the value of certain investments. As of May 31, 2018, 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.  
  (b)  As of August 31, 2017, the Trust used significant unobservable inputs in determining the value of certain investments. As of May 31, 2018, 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.  
  (c)  Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at May 31, 2018 is generally due to investments no longer held or categorized as Level 3 at period end.  

The Fund’s investments that are categorized as Level 3 were valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.

 

       
35
 


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 Corporate High Yield Fund, Inc.   
  By:       /s/ John M. Perlowski                        
    John M. Perlowski   
    Chief Executive Officer (principal executive officer) of   
    BlackRock Corporate High Yield Fund, Inc.   

Date: July 19, 2018

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 Corporate High Yield Fund, Inc.   

Date: July 19, 2018

 

  By:       /s/ Neal J. Andrews                           
    Neal J. Andrews   
    Chief Financial Officer (principal financial officer) of   
    BlackRock Corporate High Yield Fund, Inc.   

Date: July 19, 2018