Edgar Filing: BLACKROCK Ltd DURATION INCOME TRUST

BLACKROCK Ltd DURATION INCOME TRUST

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-21349

Name of Fund: BlackRock Limited Duration Income Trust (BLW)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Limited Duration Income Trust, 55 East 52^nd Street, New York, NY 10055

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 08/31/2016

Date of reporting period: 05/31/2016

Item 1 – Schedule of Investments

Schedule of Investments May 31, 2016 (Unaudited)

BlackRock Limited Duration Income Trust (BLW)

(Percentages shown are based on Net Assets)



Common Stocks			Shares		Value
Chemicals — 0.0%
LyondellBasell Industries NV, Class A				37	$	3,010
Construction & Engineering — 0.3%
USI United Subcontractors				6,454		1,548,954
Diversified Financial Services — 0.0%
Kcad Holdings I Ltd. (a)				546,753,936		5,468
Health Care Management Services — 0.0%
New Millennium HoldCo, Inc. (a)(b)				8,511		32,980
Household Durables — 0.0%
Berkline Benchcraft Equity LLC (a)				3,155		—
Oil, Gas & Consumable Fuels — 0.0%
Denbury Resources, Inc. (a)				40,280		154,272
Southcross Holdings LP (a)				40		12,600
Vantage Drilling International (a)				191		—

						166,872
Real Estate Investment Trusts (REITs) — 0.0%
Ovation Acquisition I LLC, (Acquired 12/28/15, cost $15,599) (c)				1,013		1,013
Total Common Stocks — 0.3%						1,758,297



Asset-Backed Securities	Par (000)
Asset-Backed Securities — 16.6%
ACAS CLO Ltd., Series 2014-1A, Class C, 3.53%, 7/18/26 (d)(e)		USD		1,000		975,183
Aircraft Lease Securitisation Ltd., Series 2007-1A, Class G3, 0.70%, 5/10/32 (d)(e)				115		113,261
ALM Loan Funding, Series 2013-7RA, Class D, 5.64%, 4/24/24 (d)(e)				1,040		977,039
ALM VI Ltd., Series 2012-6A, Class B2R, 3.43%, 7/15/26 (d)(e)				1,000		975,000
ALM XIV Ltd., Series 2014-14A, Class C, 4.08%, 7/28/26 (d)(e)				3,140		2,900,240
AmeriCredit Automobile Receivables Series 2014-3, Class C, 2.58%, 9/08/20				4,850		4,906,165
AMMC CLO Ltd., Series 2014-15A, Class D, 4.84%, 12/09/26 (d)(e)				2,000		1,855,000
Apidos CLO XVII, Series 2014-17A, Class B, 3.48%, 4/17/26 (d)(e)				1,000		972,950
Ares CLO Ltd. (d)(e):
Series 2012-2A, Class CR, 3.33%, 10/12/23				1,000		986,200
Series 2014 32A, Class B, 3.88%, 11/15/25				1,250		1,242,728


Asset-Backed Securities	Par (000)			Value
Asset-Backed Securities (continued)
Atrium CDO Corp., Series 9A, Class D, 4.17%, 2/28/24 (d)(e)		USD	1,850	$	1,732,257
Benefit Street Partners CLO IV Ltd., Series 2014-IVA, Class B, 3.43%, 7/20/26 (d)(e)			1,250		1,215,625
Carlyle Global Market Strategies CLO Ltd., Class C (d)(e):
Series 2013-1A, 4.63%, 2/14/25			250		237,967
Series 2014-5A, 4.78%, 10/16/25			2,000		1,873,612
Series 2015-1A, 3.78%, 4/20/27			500		498,491
CIFC Funding 2014-IV, Ltd., Series 2014-4A, Class C1, 3.53%, 10/17/26 (d)(e)			2,850		2,777,229
CIFC Funding Ltd., Class D (d)(e):
Series 2014-3A, 4.04%, 7/22/26			420		373,068
Series 2015-1A, 4.64%, 1/22/27			600		561,035
Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B, 2.50%, 1/25/30 (e)			1,616		1,532,576
DCP Rights LLC, Series 2014-1A, Class A, 5.46%, 10/25/44 (e)			3,157		3,111,938
Flagship CLO, Series 2014-8A, Class C, 3.76%, 1/16/26 (d)(e)			1,000		956,451
Gramercy Park CLO, Ltd., Series 2012-1AR, Class CR, 4.68%, 7/17/23 (d)(e)			5,000		4,811,655
GSAA Trust, Series 2007-3, Class 1A2, 0.62%, 3/25/47 (d)			2,510		1,218,646
LIitigation Fee Residual FDG, 4.00%, 10/30/27			1,857		1,847,815
Madison Park Funding Ltd., Series 2012-10A, Class D, 4.88%, 1/20/25 (d)(e)			700		674,270
Madison Park Funding XI Ltd., Series 2013-11A, Class D, 4.14%, 10/23/25 (d)(e)			420		373,424
Madison Park Funding XV Ltd., Series 2014-15A, Class B1, 3.88%, 1/27/26 (d)(e)			1,500		1,501,803
Neuberger Berman CLO XVIII Ltd., Series 2014-18A, Class B, 3.78%, 11/14/25 (d)(e)			1,000		988,488
OneMain Financial Issuance Trust (e):
Series 2015-1A, Class D, 6.63%, 3/18/26			350		341,888
Series 2015-2A, Class C, 4.32%, 7/18/25			4,000		3,811,304



BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016	1


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Asset-Backed Securities	Par (000)			Value
Asset-Backed Securities (continued)
OneMain Financial Issuance Trust (e) (continued):
Series 2015-2A, Class D, 5.64%, 7/18/25		USD	2,000	$	1,909,272
OZLM Funding Ltd., Series 2012-2A, Class C, 4.99%, 10/30/23 (d)(e)			500		483,252
OZLM IX Ltd., Series 2014-9A, Class C, 4.23%, 1/20/27 (d)(e)			1,000		887,148
OZLM VII Ltd., Series 2014-7A, Class C, 4.23%, 7/17/26 (d)(e)			780		689,109
OZLM VIII Ltd., Series 2014-8A (d)(e):
Class B, 3.63%, 10/17/26			2,500		2,474,196
Class C, 4.13%, 10/17/26			500		438,086
OZLM XII Ltd., Series 2015-12A, Class C, 4.34%, 4/30/27 (d)(e)			1,000		883,599
Regatta Funding LP, Series 2013-2A, Class C, 4.63%, 1/15/25 (d)(e)			500		473,408
Regatta V Funding Ltd., Series 2014-1A, Class B, 3.64%, 10/25/26 (d)(e)			2,000		1,888,769
Santander Drive Auto Receivables Trust:
Series 2014-3, Class D, 2.65%, 8/17/20			4,015		4,041,962
Series 2014-4, Class C, 2.60%, 11/16/20			4,500		4,548,053
Series 2014-4, Class D, 3.10%, 11/16/20			4,500		4,559,682
Series 2014-S3, 0.00%, 2/19/19			3		8,977,500
Series 2014-S4, 0.00%, 4/16/19			3		11,927,250
Sound Point CLO Ltd., Series 2014-3A, Class D, 4.24%, 1/23/27 (d)(e)			2,000		1,756,793
Symphony CLO XV Ltd., Series 2014-15A, Class C, 3.83%, 10/17/26 (d)(e)			4,000		3,976,017
Venture XXI CLO Ltd., Series 2015-21A, Class D, 4.23%, 7/15/27 (d)(e)			400		362,092
Voya CLO Ltd., Series 2014-4A, Class C, 4.63%, 10/14/26 (d)(e)			2,500		2,261,194
World Financial Network Credit Card Master Trust, Series 2012-C, Class B, 3.57%, 8/15/22			3,000		3,045,828

					101,926,518


Asset-Backed Securities	Par (000)			Value
Interest Only Asset-Backed Securities — 0.2%
Sterling Bank Trust, Series 2004-2, Class Note, 2.08%, 3/30/30 (e)		USD	5,193	$	370,019
Sterling Coofs Trust, Series 2004-1, Class A, 2.00%, 4/15/29			7,034		489,828

					859,847
Total Asset-Backed Securities — 16.8%					102,786,365



Corporate Bonds
Aerospace & Defense — 0.9%
Accudyne Industries Borrower/Accudyne Industries LLC, 7.75%, 12/15/20 (e)(f)			560		464,800
Bombardier, Inc. (e):
7.50%, 3/15/18			63		64,260
5.50%, 9/15/18			166		162,680
6.00%, 10/15/22			139		118,845
7.50%, 3/15/25			466		410,080
Huntington Ingalls Industries, Inc., 5.00%, 12/15/21 (e)			250		263,125
KLX, Inc., 5.88%, 12/01/22 (e)			245		241,325
Moog, Inc., 5.25%, 12/01/22 (e)			270		274,388
TransDigm, Inc.:
7.50%, 7/15/21			263		278,535
6.00%, 7/15/22 (f)			1,825		1,856,937
6.50%, 7/15/24 (f)			680		693,600
6.38%, 6/15/26 (e)(g)			428		428,535

					5,257,110
Air Freight & Logistics — 0.2%
XPO Logistics, Inc.:
5.75%, 6/15/21		EUR	100		107,450
6.50%, 6/15/22 (e)(f)		USD	1,100		1,056,000

					1,163,450
Airlines — 2.3%
Air Canada Pass-Through Trust (e):
Series 2013-1, Class C, 6.63%, 5/15/18			651		669,716
Series 2015-1, Class B, 3.88%, 9/15/24 (f)			1,455		1,404,160
American Airlines Group, Inc., 4.63%, 3/01/20 (e)			315		305,550
American Airlines Pass-Through Trust, Series 2013-2 (f):
Class A, 4.95%, 7/15/24			3,246		3,488,941
Class B, 5.60%, 1/15/22 (e)			630		647,737
Continental Airlines Pass-Through Trust, Series 2012-3, Class C, 6.13%, 4/29/18 (f)			780		819,000



2	BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds		Par (000)		Value
Airlines (continued)
Delta Air Lines Pass-Through Trust, Series 2009-1, Class B, 9.75%, 6/17/18	USD		186	$	193,592
United Airlines Pass-Through Trust (f):
Series 2014-2, Class B, 4.63%, 3/03/24			2,187		2,198,113
Series 2015-1, Class A, 3.70%, 6/01/24			2,430		2,466,450
US Airways Pass-Through Trust, Series 2011-1, Class B, 9.75%, 4/22/20			352		393,753
Virgin Australia Trust, Series 2013-1 (e)(f):
Class A, 5.00%, 4/23/25			536		554,448
Class C, 7.13%, 10/23/18			678		678,142

					13,819,602
Auto Components — 0.7%
CNH Industrial Finance Europe SA, 2.88%, 5/17/23	EUR		175		192,523
Dakar Finance SA, (9.75% Cash PIK), 9.00%, 11/15/20 (h)			100		110,709
Fiat Chrysler Finance Europe:
4.75%, 3/22/21			100		120,622
4.75%, 7/15/22			100		121,742
Goodyear Tire & Rubber Co.:
6.50%, 3/01/21 (f)	USD		901		944,924
5.00%, 5/31/26			67		67,754
Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.88%, 3/15/19 (f)			1,314		1,269,653
Schaeffler Holding Finance BV (h):
(5.75% Cash or 6.50% PIK), 5.75%, 11/15/21	EUR		69		82,208
(6.25% Cash), 6.25%, 11/15/19 (e)(f)	USD		804		840,180
(6.75% Cash), 6.75%, 11/15/22 (e)(f)			576		634,663
(6.88% Cash), 6.88%, 8/15/18	EUR		141		152,110

					4,537,088
Automobiles — 0.4%
General Motors Co., 3.50%, 10/02/18 (f)	USD		2,478		2,541,677
Banks — 1.4%
Allied Irish Banks PLC, 4.13%, 11/26/25 (d)	EUR		100		105,980
Banco de Sabadell SA, 5.63%, 5/06/26			100		112,925
Banco Espirito Santo SA (a)(b):
4.75%, 1/15/18			100		24,479


Corporate Bonds		Par (000)		Value
Banks (continued)
Banco Espirito Santo SA (a)(b) (continued):
4.00%, 1/21/19	EUR		100	$	24,478
Bank of Ireland, 4.25%, 6/11/24 (d)			100		111,258
Bankia SA, 4.00%, 5/22/24 (d)			100		108,465
Barclays Bank PLC, 3.65%, 3/16/25 (f)	USD		3,600		3,490,765
CIT Group, Inc.:
5.50%, 2/15/19 (e)(f)			1,195		1,248,775
5.00%, 8/01/23			235		239,700
Commerzbank AG, 7.75%, 3/16/21	EUR		100		134,696
Ibercaja Banco SA, 5.00%, 7/28/25 (d)			100		105,313
Nordea Bank AB, 4.50%, 3/26/20			1,020		1,284,833
Santander Holdings USA, Inc., 4.50%, 7/17/25 (f)	USD		1,750		1,800,932

					8,792,599
Beverages — 0.5%
Anheuser-Busch InBev Finance, Inc., 3.30%, 2/01/23 (f)			3,000		3,084,903
Constellation Brands, Inc., 7.25%, 5/15/17			82		86,202

					3,171,105
Building Products — 0.9%
American Builders & Contractors Supply Co., Inc. (e):
5.63%, 4/15/21			190		197,125
5.75%, 12/15/23			141		146,640
Building Materials Corp. of America, 6.00%, 10/15/25 (e)(f)			535		568,438
CPG Merger Sub LLC, 8.00%, 10/01/21 (e)(f)			1,030		973,350
HeidelbergCement AG, 2.25%, 3/30/23	EUR		75		85,222
Masonite International Corp., 5.63%, 3/15/23 (e)(f)	USD		404		422,180
Ply Gem Industries, Inc., 6.50%, 2/01/22 (f)			904		899,480
Standard Industries, Inc. (e)(f):
5.13%, 2/15/21			140		145,250
5.50%, 2/15/23			229		235,870
USG Corp., 9.75%, 1/15/18 (f)			1,390		1,553,700

					5,227,255
Capital Markets — 0.6%
American Capital Ltd., 6.50%, 9/15/18 (e)(f)			975		994,500
Blackstone CQP Holdco LP, 9.30%, 3/19/19			1,146		1,143,055



BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016	3


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds	Par (000)			Value
Capital Markets (continued)
E*Trade Financial Corp. (f):
5.38%, 11/15/22		USD	272	$	284,240
4.63%, 9/15/23			405		406,013
Morgan Stanley, 4.00%, 7/23/25 (f)			965		1,014,380

					3,842,188
Chemicals — 0.6%
Axalta Coating Systems US Holdings, Inc./Axalta Coating Systems Dutch Holding BV, 7.38%, 5/01/21 (e)			398		421,601
Chemours Co.:
6.63%, 5/15/23			125		112,188
7.00%, 5/15/25			195		170,991
Huntsman International LLC:
4.88%, 11/15/20			133		135,328
5.13%, 4/15/21		EUR	100		114,547
Ineos Finance PLC, 4.00%, 5/01/23			100		108,736
Inovyn Finance PLC, 6.25%, 5/15/21			100		115,298
Momentive Performance Materials, Inc., 3.88%, 10/24/21 (f)		USD	590		472,000
NOVA Chemicals Corp., 5.25%, 8/01/23 (e)			130		130,325
Platform Specialty Products Corp. (e):
10.38%, 5/01/21			53		54,060
6.50%, 2/01/22 (f)			1,472		1,307,320
PQ Corp., 6.75%, 11/15/22 (e)			319		332,557
WR Grace & Co-Conn (e):
5.13%, 10/01/21			41		42,512
5.63%, 10/01/24			200		211,500

					3,728,963
Commercial Services & Supplies — 0.8%
AA Bond Co., Ltd., 5.50%, 7/31/43		GBP	125		177,875
ADS Waste Holdings, Inc., 8.25%, 10/01/20		USD	247		254,410
ADT Corp.:
3.50%, 7/15/22			369		338,558
4.13%, 6/15/23			155		144,150
Aviation Capital Group Corp., 4.63%, 1/31/18 (e)(f)			1,000		1,023,750
Brand Energy & Infrastructure Services, Inc., 8.50%, 12/01/21 (e)			319		303,050
Iron Mountain, Inc., 6.00%, 10/01/20 (e)			315		332,325
Mobile Mini, Inc.:
7.88%, 12/01/20 (f)			275		286,000
5.88%, 7/01/24 (e)			400		410,000


Corporate Bonds	Par (000)			Value
Commercial Services & Supplies (continued)
Modular Space Corp., 10.25%, 1/31/19 (e)(f)		USD	1,253	$	635,897
Silk Bidco AS, 7.50%, 2/01/22		EUR	120		137,524
United Rentals North America, Inc.:
7.63%, 4/15/22		USD	128		136,160
5.75%, 11/15/24 (f)			579		580,447
Verisure Holding AB, 6.00%, 11/01/22		EUR	125		149,165

					4,909,311
Communications Equipment — 1.0%
Alcatel-Lucent USA, Inc., 6.45%, 3/15/29 (f)		USD	2,115		2,241,900
CommScope Technologies Finance LLC, 6.00%, 6/15/25 (e)(f)			564		573,870
CommScope, Inc., 4.38%, 6/15/20 (e)(f)			465		478,950
Motorola Solutions, Inc., 3.75%, 5/15/22 (f)			1,500		1,472,800
Nokia OYJ, 6.63%, 5/15/39			200		212,500
Zayo Group LLC/Zayo Capital, Inc. (f):
6.00%, 4/01/23			704		723,360
6.38%, 5/15/25			589		612,560

					6,315,940
Construction & Engineering — 0.3%
AECOM Co.:
5.75%, 10/15/22			150		154,875
5.88%, 10/15/24			344		356,040
BlueLine Rental Finance Corp., 7.00%, 2/01/19 (e)(f)			575		485,875
Safway Group Holding LLC/Safway Finance Corp., 7.00%, 5/15/18 (e)(f)			463		467,630
Weekley Homes LLC/Weekley Finance Corp., 6.00%, 2/01/23			320		297,600

					1,762,020
Construction Materials — 0.8%
Beacon Roofing Supply, Inc., 6.38%, 10/01/23			305		323,300
HD Supply, Inc. (f):
7.50%, 7/15/20			1,548		1,633,140
5.25%, 12/15/21 (e)			1,828		1,923,970
5.75%, 4/15/24 (e)			647		672,880
LKQ Italia Bondco SpA, 3.88%, 4/01/24		EUR	100		115,298
Officine MaccaFerri SpA, 5.75%, 6/01/21			150		150,256
PulteGroup, Inc., 5.50%, 3/01/26		USD	228		232,419



4	BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds		Par (000)		Value
Construction Materials (continued)
Rexel SA, 3.50%, 6/15/23	EUR		116	$	131,649

					5,182,912
Consumer Finance — 1.5%
Ally Financial, Inc. (f):
4.63%, 3/30/25	USD		1,891		1,886,272
8.00%, 11/01/31			2,750		3,231,250
General Motors Financial Co., Inc., 2.63%, 7/10/17 (f)			2,760		2,780,347
McGraw Hill Financial, Inc., 2.50%, 8/15/18			445		452,019
Navient Corp.:
5.00%, 10/26/20			310		289,850
5.50%, 1/25/23			25		21,500
6.13%, 3/25/24			115		101,308
5.88%, 10/25/24			125		106,875
OneMain Financial Holdings LLC (e):
6.75%, 12/15/19			101		102,010
7.25%, 12/15/21			34		34,170

					9,005,601
Containers & Packaging — 0.9%
Ardagh Packaging Finance PLC, 9.13%, 10/15/20 (e)(f)			1,140		1,194,720
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.:
6.75%, 1/31/21 (e)			605		609,537
3.88%, 5/15/21 (d)(e)			290		290,725
4.25%, 1/15/22	EUR		120		136,022
6.75%, 5/15/24			100		112,934
Ardagh Packaging Finance PLC/Ardagh MP Holdings USA, Inc. (e):
4.63%, 5/15/23	USD		206		204,970
7.25%, 5/15/24 (f)			653		666,060
Ball Corp.:
5.00%, 3/15/22			360		376,200
4.38%, 12/15/23	EUR		100		120,272
Beverage Packaging Holdings Luxembourg II SA, 6.00%, 6/15/17 (e)(f)	USD		550		550,000
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, 1/15/23			128		129,440
Crown European Holdings SA, 4.00%, 7/15/22	EUR		149		178,633
JH-Holding Finance SA, (8.25% Cash), 8.25%, 12/01/22 (h)			200		237,128
Sealed Air Corp.:
4.88%, 12/01/22 (e)	USD		80		81,800
4.50%, 9/15/23	EUR		100		117,861
5.13%, 12/01/24 (e)	USD		151		155,152


Corporate Bonds		Par (000)		Value
Containers & Packaging (continued)
Sealed Air Corp. (continued): 6.88%, 7/15/33 (e)	USD		115	$	120,750
SGD Group SAS, 5.63%, 5/15/19	EUR		100		114,603

					5,396,807
Diversified Consumer Services — 0.2%
APX Group, Inc.:
6.38%, 12/01/19	USD		44		43,560
8.75%, 12/01/20			113		102,830
Laureate Education, Inc., 9.25%, 9/01/19 (e)			495		455,400
Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25%, 5/15/23 (e)			333		347,152
Service Corp. International, 5.38%, 5/15/24 (f)			500		517,500

					1,466,442
Diversified Financial Services — 1.4%
AerCap Ireland Capital Ltd./AerCap Global Aviation Trust (f):
4.63%, 10/30/20			1,015		1,050,525
5.00%, 10/01/21			500		523,750
4.63%, 7/01/22			340		348,500
Aircastle Ltd.:
6.25%, 12/01/19 (f)			367		401,406
5.13%, 3/15/21			40		42,200
5.50%, 2/15/22			205		216,275
5.00%, 4/01/23			90		92,025
Deutsche Bank AG, 4.50%, 5/19/26	EUR		100		110,504
Garfunkelux Holdco 3 SA, 8.50%, 11/01/22	GBP		100		146,486
General Motors Financial Co., Inc., 4.38%, 9/25/21 (f)	USD		530		555,667
HSH Nordbank AG, 0.58%, 2/14/17 (d)	EUR		103		106,601
International Lease Finance Corp. (f):
5.88%, 4/01/19	USD		160		171,000
8.25%, 12/15/20			150		176,438
4.63%, 4/15/21			147		151,778
5.88%, 8/15/22			560		611,100
Jefferies Finance LLC/JFIN Co-Issuer Corp. (e):
7.38%, 4/01/20			290		272,600
6.88%, 4/15/22 (f)			480		422,400
Mercury Bondco PLC, (8.25% Cash, 9.00% PIK), 8.25%, 5/30/21 (h)	EUR		100		113,490
MSCI, Inc., 5.75%, 8/15/25 (e)	USD		201		211,552
Reynolds Group Issuer, Inc.:
9.88%, 8/15/19			245		254,494



BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016	5


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds	Par (000)			Value
Diversified Financial Services (continued)
Reynolds Group Issuer, Inc. (continued):
5.75%, 10/15/20 (f)		USD	1,062	$	1,095,187
6.88%, 2/15/21			210		217,875
8.25%, 2/15/21			695		721,966
UniCredit SpA:
6.95%, 10/31/22		EUR	100		128,436
5.75%, 10/28/25 (d)			100		118,699
4.38%, 1/03/27 (d)(g)			100		111,165

					8,372,119
Diversified Telecommunication Services — 2.2%
CenturyLink, Inc., 6.45%, 6/15/21		USD	456		462,840
Frontier Communications Corp.:
7.13%, 3/15/19			170		180,625
6.25%, 9/15/21			45		41,963
7.13%, 1/15/23			170		151,725
7.63%, 4/15/24			276		243,570
6.88%, 1/15/25 (f)			947		788,377
Level 3 Financing, Inc.:
4.41%, 1/15/18 (d)			411		414,596
5.38%, 8/15/22 (f)			971		985,565
5.13%, 5/01/23 (f)			905		909,525
5.38%, 1/15/24			240		244,248
5.38%, 5/01/25 (f)			1,725		1,755,532
5.25%, 3/15/26 (e)			167		166,583
OTE PLC, 3.50%, 7/09/20		EUR	100		111,265
SoftBank Group Corp., 4.75%, 7/30/25			122		145,408
Telecom Italia Capital SA:
6.38%, 11/15/33		USD	130		129,025
6.00%, 9/30/34			630		596,925
7.20%, 7/18/36			160		163,520
Telecom Italia Finance SA, 7.75%, 1/24/33		EUR	37		55,318
Telecom Italia SpA:
6.38%, 6/24/19		GBP	200		318,412
5.88%, 5/19/23			450		715,630
Telenet Finance V Luxembourg SCA, 6.75%, 8/15/24		EUR	397		493,660
Verizon Communications, Inc., 3.65%, 9/14/18 (f)		USD	4,000		4,200,424

					13,274,736
Electric Utilities — 0.5%
AES Corp.:
8.00%, 6/01/20 (f)			230		268,525
4.88%, 5/15/23			270		266,625
Exelon Corp., 3.40%, 4/15/26			140		141,397
Mirant Mid Atlantic Pass-Through Trust, Series B, 9.13%, 6/30/17 (f)			303		290,633
The Southern Co., 2.95%, 7/01/23			1,920		1,945,394


Corporate Bonds	Par (000)			Value
Electric Utilities (continued)
Texas Competitive Electric Holdings Co. LLC/TCEH Finance Inc. (a)(b):
10.50%, 11/01/16		USD	31	$	1,907
Series A, 10.25%, 11/01/15			47		2,890

					2,917,371
Electrical Equipment — 0.0%
Belden, Inc., 5.50%, 4/15/23		EUR	149		169,349
Electronic Equipment, Instruments & Components — 0.2%
CDW LLC/CDW Finance Corp.:
6.00%, 8/15/22 (f)		USD	615		645,750
5.00%, 9/01/23			122		122,610
5.50%, 12/01/24 (f)			455		467,513

					1,235,873
Energy Equipment & Services — 0.4%
Ensco PLC:
4.70%, 3/15/21			75		58,875
4.50%, 10/01/24			287		179,375
5.20%, 3/15/25 (f)			288		191,376
Genesis Energy LP/Genesis Energy Finance Corp.:
5.75%, 2/15/21			30		27,900
6.75%, 8/01/22			282		267,900
Halliburton Co., 3.80%, 11/15/25 (f)			100		101,206
Noble Holding International Ltd.:
4.63%, 3/01/21			35		26,425
6.95%, 4/01/25			95		69,587
Transocean, Inc.:
3.75%, 10/15/17 (f)			414		402,615
6.00%, 3/15/18 (f)			740		717,800
7.38%, 4/15/18			30		29,213
6.50%, 11/15/20			179		138,277
5.05%, 10/15/22			111		69,930

					2,280,479
Environmental, Maintenance, & Security Service — 0.0%
Befesa Zinc SAU Via Zinc Capital SA, 8.88%, 5/15/18		EUR	100		111,265
Food & Staples Retailing — 1.1%
Albertsons Cos. LLC/Safeway, Inc./New Albertson’s, Inc./Albertson’s LLC, 6.63%, 6/15/24 (e)		USD	264		270,270
Brakes Capital, 7.13%, 12/15/18		GBP	255		383,216
Casino Guichard Perrachon SA:
3.31%, 1/25/23		EUR	100		117,482
3.25%, 3/07/24			200		230,623
2.33%, 2/07/25			100		108,019



6	BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds	Par (000)			Value
Food & Staples Retailing (continued)
CVS Health Corp., 4.75%, 12/01/22 (e)(f)		USD	165	$	183,722
Dollar Tree, Inc. (e):
5.25%, 3/01/20			108		112,590
5.75%, 3/01/23 (f)			2,161		2,282,556
R&R Ice Cream PLC, 4.75%, 5/15/20		EUR	150		170,456
Rite Aid Corp. (f):
9.25%, 3/15/20		USD	1,095		1,155,225
6.13%, 4/01/23 (e)			1,570		1,660,275
Tesco PLC, 5.00%, 3/24/23		GBP	100		150,245

					6,824,679
Food Products — 0.7%
Acosta, Inc., 7.75%, 10/01/22 (e)		USD	464		447,760
Aramark Services, Inc.:
5.13%, 1/15/24 (e)			138		143,175
5.13%, 1/15/24 (f)			729		756,337
JBS USA LLC/JBS USA Finance, Inc., 5.75%, 6/15/25 (e)			256		244,480
Pinnacle Foods Finance Corp., 5.88%, 1/15/24 (e)			62		65,100
Post Holdings, Inc.:
7.38%, 2/15/22			245		258,781
7.75%, 3/15/24 (e)(f)			844		916,795
8.00%, 7/15/25 (e)			416		461,760
Smithfield Foods, Inc., 5.88%, 8/01/21 (e)			193		201,203
TreeHouse Foods, Inc., 6.00%, 2/15/24 (e)			383		403,108
WhiteWave Foods Co., 5.38%, 10/01/22			168		179,550

					4,078,049
Health Care Equipment & Supplies — 0.6%
Crimson Merger Sub, Inc., 6.63%, 5/15/22 (e)			485		395,881
DJO Finance LLC/DJO Finance Corp., 8.13%, 6/15/21 (e)(f)			1,261		1,131,747
Fresenius Medical Care US Finance II, Inc., 4.75%, 10/15/24 (e)			245		254,494
Fresenius US Finance II, Inc., 4.50%, 1/15/23 (e)			260		267,800
Hologic, Inc., Series 2010, 2.00%, 12/15/37 (i)(j)			265		397,831
Kinetic Concepts, Inc./KCI USA, Inc., 7.88%, 2/15/21 (e)			93		99,769
Mallinckrodt International Finance SA/Mallinckrodt CB LLC (e):
4.88%, 4/15/20 (f)			284		275,480
5.75%, 8/01/22			330		311,850


Corporate Bonds	Par (000)			Value
Health Care Equipment & Supplies (continued)
Teleflex, Inc.:
3.88% (j)(k)		USD	100	$	262,000
5.25%, 6/15/24			250		258,750
4.88%, 6/01/26			96		96,240

					3,751,842
Health Care Providers & Services — 2.8%
Acadia Healthcare Co., Inc.:
5.13%, 7/01/22			105		105,525
5.63%, 2/15/23			150		152,438
6.50%, 3/01/24 (e)			61		63,305
Alere, Inc., 6.38%, 7/01/23 (e)			330		344,150
Amsurg Corp., 5.63%, 7/15/22 (f)			566		574,490
Centene Corp., 4.75%, 5/15/22			370		380,175
Centene Escrow Corp. (e):
5.63%, 2/15/21			359		373,360
6.13%, 2/15/24			213		224,317
CHS/Community Health Systems, Inc., 6.88%, 2/01/22 (f)			414		355,787
DaVita HealthCare Partners, Inc. (f):
5.13%, 7/15/24			975		988,162
5.00%, 5/01/25			217		215,101
Envision Healthcare Corp., 5.13%, 7/01/22 (e)			165		165,413
ExamWorks Group, Inc., 5.63%, 4/15/23			216		231,660
HCA Holdings, Inc., 6.25%, 2/15/21			35		37,450
HCA, Inc.:
3.75%, 3/15/19 (f)			786		809,580
6.50%, 2/15/20 (f)			125		137,500
7.50%, 2/15/22 (f)			572		648,505
5.88%, 3/15/22 (f)			82		88,560
4.75%, 5/01/23 (f)			108		110,160
5.88%, 5/01/23			70		74,113
5.00%, 3/15/24 (f)			335		343,794
5.38%, 2/01/25 (f)			637		646,555
5.25%, 4/15/25 (f)			1,230		1,266,900
5.88%, 2/15/26			426		440,910
5.25%, 6/15/26			123		126,383
HealthSouth Corp.:
5.75%, 11/01/24 (f)			720		729,900
5.75%, 9/15/25			257		259,570
2.00%, 12/01/43 (j)			335		397,184
Hologic, Inc., 5.25%, 7/15/22 (e)(f)			720		753,300
MEDNAX, Inc., 5.25%, 12/01/23 (e)(f)			201		205,649
MPH Acquisition Holdings LLC, 7.13%, 6/01/24 (e)(g)			307		315,442



BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016	7


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds		Par (000)		Value
Health Care Providers & Services (continued)
RegionalCare Hospital Partners Holdings, Inc., 8.25%, 5/01/23 (e)	USD		376	$	387,047
Sterigenics-Nordion Holdings LLC, 6.50%, 5/15/23 (e)			104		105,820
Surgery Center Holdings, Inc., 8.88%, 4/15/21 (e)			71		71,355
Tenet Healthcare Corp.:
6.25%, 11/01/18 (f)			264		279,180
4.75%, 6/01/20 (f)			520		532,025
4.13%, 6/15/20 (d)(e)(f)			805		800,975
6.00%, 10/01/20			241		253,652
6.75%, 6/15/23 (f)			1,430		1,344,200
UnitedHealth Group, Inc., 3.75%, 7/15/25 (f)			1,470		1,585,821
Voyage Care Bondco PLC, 6.50%, 8/01/18	GBP		355		507,650

					17,433,063
Hotels, Restaurants & Leisure — 4.2%
Boyd Gaming Corp., 6.88%, 5/15/23	USD		336		352,296
Caesars Entertainment Resort Properties LLC/Caesars Entertainment Resort Property, 8.00%, 10/01/20 (f)			1,270		1,279,525
Carlson Travel Holdings, Inc., (7.50% Cash or 8.25% PIK), 7.50%, 8/15/19 (e)(h)			204		197,370
Cirsa Funding Luxembourg SA, 5.88%, 5/15/23	EUR		100		113,602
CPUK Finance, Ltd., 7.00%, 2/28/42	GBP		100		151,932
Enterprise Funding Ltd., Series ETI, 3.50%, 9/10/20 (j)			100		112,754
ESH Hospitality, Inc., 5.25%, 5/01/25 (e)(f)	USD		766		743,020
Gala Electric Casinos PLC, 11.50%, 6/01/19	GBP		64		95,762
GLP Capital LP / GLP Financing II, Inc., 4.38%, 4/15/21	USD		48		49,200
GLP Capital LP/GLP Financing II, Inc., 4.38%, 11/01/18 (f)			357		368,603
International Game Technology PLC, 4.75%, 2/15/23	EUR		125		145,688
McDonald’s Corp., 3.70%, 1/30/26 (f)	USD		405		430,769
MGM Resorts International:
8.63%, 2/01/19			149		168,743
5.25%, 3/31/20			368		380,880
6.75%, 10/01/20			413		449,344
6.63%, 12/15/21 (f)			960		1,035,600
6.00%, 3/15/23			17		17,765


Corporate Bonds		Par (000)		Value
Hotels, Restaurants & Leisure (continued)
MGP Escrow Issuer LLC/MGP Escrow Co-Issuer, Inc., 5.63%, 5/01/24 (e)(f)	USD		981	$	1,030,050
New Red Finance, Inc., 6.00%, 4/01/22 (e)(f)			1,095		1,134,694
Pinnacle Entertainment, Inc., 5.63%, 5/01/24 (e)			68		66,470
Pizzaexpress Financing 2 PLC, 6.63%, 8/01/21	GBP		100		144,485
PortAventura Entertainment Barcelona BV, 7.25%, 12/01/20	EUR		100		116,292
RHP Hotel Properties LP/RHP Finance Corp., 5.00%, 4/15/21 (f)	USD		630		642,600
Sabre GLBL, Inc. (e):
5.38%, 4/15/23			192		196,320
5.25%, 11/15/23			92		93,955
Scientific Games International, Inc.:
7.00%, 1/01/22 (e)			394		397,940
10.00%, 12/01/22			94		76,140
Six Flags Entertainment Corp., 5.25%, 1/15/21 (e)			486		503,311
Snai SpA, 7.63%, 6/15/18	EUR		205		238,358
Spirit Issuer PLC:
Series A1, 1.14%, 12/28/28 (d)	GBP		445		432,503
Series A2, 3.29%, 12/28/31 (d)			1,800		2,282,532
Series A5, 5.47%, 12/28/28			4,500		6,510,274
Series A6, 2.39%, 12/28/36 (d)			2,670		3,579,386
Station Casinos LLC, 7.50%, 3/01/21 (f)	USD		1,025		1,078,812
Tropicana Entertainment LLC/Tropicana Finance Corp., 9.63%, 12/15/16 (a)(b)			375		—
Unique Pub Finance Co. PLC:
Series A4, 5.66%, 6/30/27	GBP		722		1,029,297
Series N, 6.46%, 3/30/32			100		122,535
Yum! Brands, Inc.:
3.75%, 11/01/21	USD		68		65,620
3.88%, 11/01/23			30		27,600

					25,862,027
Household Durables — 0.6%
Beazer Homes USA, Inc., 6.63%, 4/15/18			250		255,067
Berkline/Benchcraft LLC, 4.50%, 6/01/17 (a)(b)			200		—
Brookfield Residential Properties, Inc./Brookfield Residential US Corp., 6.13%, 7/01/22 (e)			259		246,698



8	BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds		Par (000)		Value
Household Durables (continued)
CalAtlantic Group Inc., 8.38%, 1/15/21 (f)	USD		220	$	257,950
DR Horton, Inc., 4.00%, 2/15/20 (f)			340		351,050
Lennar Corp.:
4.50%, 11/15/19			370		383,412
4.75%, 4/01/21			158		161,555
4.88%, 12/15/23			122		120,475
4.75%, 5/30/25			260		254,800
Meritage Homes Corp., 4.50%, 3/01/18 (f)			510		520,200
PulteGroup, Inc., 6.38%, 5/15/33 (f)			600		609,000
TRI Pointe Group, Inc.:
4.38%, 6/15/19			110		110,000
4.88%, 7/01/21			190		190,238
5.88%, 6/15/24 (f)			340		339,150

					3,799,595
Household Products — 0.3%
Prestige Brands, Inc., 6.38%, 3/01/24 (e)			150		157,875
Spectrum Brands, Inc.:
6.38%, 11/15/20			250		262,188
6.63%, 11/15/22 (f)			815		868,488
5.75%, 7/15/25 (f)			396		413,820
Tempur Sealy International, Inc., 5.50%, 6/15/26 (e)			136		136,680

					1,839,051
Independent Power and Renewable Electricity Producers — 0.6%
Calpine Corp.:
6.00%, 1/15/22 (e)			143		149,971
5.38%, 1/15/23 (f)			624		609,765
5.88%, 1/15/24 (e)			108		113,130
5.50%, 2/01/24 (f)			410		396,547
Dynegy, Inc.:
6.75%, 11/01/19 (f)			610		611,525
7.38%, 11/01/22			154		148,610
NRG Energy, Inc.:
8.25%, 9/01/20			30		31,125
7.88%, 5/15/21			380		394,250
6.63%, 3/15/23			40		39,700
7.25%, 5/15/26 (e)			461		459,848
NRG Yield Operating LLC, 5.38%, 8/15/24			135		129,938
QEP Resources, Inc., 5.38%, 10/01/22 (f)			874		812,820

					3,897,229


Corporate Bonds		Par (000)		Value
Insurance — 1.5%
Allied World Assurance Co. Holdings Ltd., 4.35%, 10/29/25 (f)	USD		360	$	360,832
Allied World Assurance Co. Ltd., 7.50%, 8/01/16 (f)			1,500		1,515,142
American International Group, Inc., 3.75%, 7/10/25 (f)			2,705		2,718,089
Aon PLC, 3.88%, 12/15/25 (f)			1,115		1,147,969
Forethought Financial Group, Inc., 8.63%, 4/15/21 (e)(f)			750		810,826
HUB International Ltd. (e):
9.25%, 2/15/21			129		134,160
7.88%, 10/01/21 (f)			678		664,440
Lincoln National Corp., 3.35%, 3/09/25 (f)			845		825,320
Muenchener Rueckversicherungs AG, 6.00%, 5/26/41 (d)	EUR		400		522,938
Pension Insurance Corp. PLC, 6.50%, 7/03/24	GBP		125		167,580
Trader Corp., 9.88%, 8/15/18 (e)(f)	USD		150		155,250
Wayne Merger Sub LLC, 8.25%, 8/01/23 (e)			435		431,738

					9,454,284
Internet Software & Services — 0.3%
Blue Coat Holdings, Inc., 8.38%, 6/01/23 (e)			411		441,311
Equinix, Inc., 5.88%, 1/15/26 (f)			828		863,190
Netflix, Inc., 5.75%, 3/01/24 (f)			600		627,000

					1,931,501
IT Services — 1.1%
Ceridian HCM Holding, Inc., 11.00%, 3/15/21 (e)(f)			219		219,548
First Data Corp. (e)(f):
5.38%, 8/15/23			1,093		1,120,325
7.00%, 12/01/23			2,271		2,302,226
5.00%, 1/15/24			716		715,549
5.75%, 1/15/24			2,234		2,234,000
Millennium Corp., 0.00%, 12/31/49 (b)			1,779		—
WEX, Inc., 4.75%, 2/01/23 (e)			220		202,400

					6,794,048
Life Sciences Tools & Services — 0.0%
Thermo Fisher Scientific, Inc., 3.00%, 4/15/23			305		306,173
Machinery — 0.0%
Gardner Denver, Inc., 6.88%, 8/15/21 (e)			135		115,763



BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016	9


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds	Par (000)			Value
Media — 6.6%
Altice Financing SA:
6.50%, 1/15/22 (e)(f)		USD	335	$	340,863
5.25%, 2/15/23		EUR	100		114,742
7.50%, 5/15/26 (e)		USD	237		236,408
Altice Luxembourg SA:
7.25%, 5/15/22		EUR	200		226,424
7.75%, 5/15/22 (e)(f)		USD	850		870,719
6.25%, 2/15/25		EUR	175		182,544
7.63%, 2/15/25 (e)(f)		USD	540		533,250
Altice US Finance I Corp. (e):
5.38%, 7/15/23 (f)			1,146		1,166,490
5.50%, 5/15/26			439		447,780
Altice US Finance II Corp., 7.75%, 7/15/25 (e)(f)			1,276		1,323,850
AMC Networks, Inc.:
4.75%, 12/15/22			70		70,000
5.00%, 4/01/24			267		267,668
CCO Holdings LLC/CCO Holdings Capital Corp.:
5.25%, 9/30/22 (f)			595		611,362
5.13%, 2/15/23			270		274,725
5.13%, 5/01/23 (e)(f)			561		568,012
5.88%, 4/01/24 (e)(f)			566		590,055
5.75%, 2/15/26 (e)(f)			198		202,950
5.50%, 5/01/26 (e)			419		423,190
5.88%, 5/01/27 (e)(f)			1,025		1,049,344
Cengage Learning Acquisitions, Inc., 11.50%, 4/15/20 (a)(b)			509		—
Cequel Communications Escrow 1 LLC/Cequel Capital Corp., 6.38%, 9/15/20 (e)			150		152,702
Cequel Communications Holdings I LLC/Cequel Capital Corp., 5.13%, 12/15/21 (e)			596		568,780
Charter Communications Operating LLC/Charter Communications Operating Capital, 4.91%, 7/23/25 (e)(f)			2,425		2,593,836
Clear Channel International BV, 8.75%, 12/15/20 (e)			425		437,750
Clear Channel Worldwide Holdings, Inc. (f):
6.50%, 11/15/22			2,289		2,265,729
Series B, 7.63%, 3/15/20			952		913,920
Columbus International, Inc., 7.38%, 3/30/21 (e)(f)			686		719,099
CSC Holdings LLC, 5.25%, 6/01/24 (f)			690		621,000
Discovery Communications LLC (f):
3.25%, 4/01/23			1,490		1,441,956
3.45%, 3/15/25			170		164,282
DISH DBS Corp.:
4.25%, 4/01/18 (f)			670		686,750


Corporate Bonds	Par (000)			Value
Media (continued)
DISH DBS Corp. (continued):
5.88%, 7/15/22		USD	65	$	62,888
5.88%, 11/15/24 (f)			541		500,701
DreamWorks Animation SKG, Inc., 6.88%, 8/15/20 (e)			185		196,331
iHeartCommunications, Inc.:
9.00%, 12/15/19			380		298,300
9.00%, 3/01/21			50		37,313
9.00%, 9/15/22 (f)			755		556,812
10.63%, 3/15/23 (f)			944		698,560
Intelsat Jackson Holdings SA:
7.25%, 10/15/20			496		345,960
6.63%, 12/15/22			243		163,418
5.50%, 8/01/23 (f)			501		321,893
8.00%, 2/15/24 (e)(f)			681		693,769
Lamar Media Corp., 5.75%, 2/01/26 (e)			234		246,285
Live Nation Entertainment, Inc., 7.00%, 9/01/20 (e)			185		194,085
McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance, 7.88%, 5/15/24 (e)			91		94,640
MDC Partners, Inc., 6.50%, 5/01/24 (e)			420		406,350
Midcontinent Communications & Midcontinent Finance Corp., 6.25%, 8/01/21 (e)			245		253,575
NAI Entertainment Holdings/NAI Entertainment Holdings Finance Corp., 5.00%, 8/01/18 (e)(f)			345		351,900
Neptune Finco Corp. (e):
10.13%, 1/15/23			426		477,120
6.63%, 10/15/25 (f)			445		475,264
Nielsen Finance LLC/Nielsen Finance Co., 5.00%, 4/15/22 (e)(f)			635		649,287
Numericable Group SA:
5.38%, 5/15/22		EUR	110		127,036
6.00%, 5/15/22 (e)(f)		USD	370		368,335
5.63%, 5/15/24		EUR	260		300,137
7.38%, 5/01/26 (e)(f)		USD	1,943		1,960,001
Outfront Media Capital LLC/Outfront Media Capital Corp.:
5.25%, 2/15/22			300		304,875
5.63%, 2/15/24			439		454,365
RCN Telecom Services LLC/RCN Capital Corp., 8.50%, 8/15/20 (e)(f)			450		463,500
Sirius XM Radio, Inc. (e):
5.75%, 8/01/21 (f)			424		443,610
4.63%, 5/15/23			40		39,300



10	BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds		Par (000)		Value
Media (continued)
Sterling Entertainment Corp., 9.75%, 12/15/19	USD		1,175	$	1,163,250
TEGNA, Inc.:
5.13%, 10/15/19			197		202,910
4.88%, 9/15/21 (e)			70		71,400
Tribune Media Co., 5.88%, 7/15/22 (f)			786		793,860
Unitymedia GmbH, 3.75%, 1/15/27	EUR		200		203,615
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH:
5.50%, 1/15/23 (e)	USD		210		216,563
4.00%, 1/15/25	EUR		136		154,120
5.00%, 1/15/25 (e)(f)	USD		749		752,745
Univision Communications, Inc. (e)(f):
5.13%, 5/15/23			1,128		1,136,460
5.13%, 2/15/25			1,218		1,208,865
Virgin Media Finance PLC:
6.38%, 10/15/24	GBP		100		147,370
5.75%, 1/15/25 (e)	USD		255		254,363
Virgin Media Secured Finance PLC:
6.00%, 4/15/21	GBP		652		982,910
5.50%, 8/15/26 (e)	USD		200		202,000
WaveDivision Escrow LLC/WaveDivision Escrow Corp., 8.13%, 9/01/20 (e)(f)			790		813,700
Wind Acquisition Finance SA, 7.00%, 4/23/21	EUR		100		106,814
Ziggo Bond Finance BV:
4.63%, 1/15/25			137		149,003
5.88%, 1/15/25 (e)(f)	USD		470		465,300

					40,577,038
Metals & Mining — 2.1%
Alcoa, Inc. (f):
5.87%, 2/23/22			630		647,325
5.13%, 10/01/24			498		480,416
Anglo American Capital PLC:
4.45%, 9/27/20 (e)			106		101,098
3.50%, 3/28/22	EUR		100		102,265
4.13%, 9/27/22 (e)	USD		200		181,500
ArcelorMittal:
6.13%, 6/01/18			370		386,187
7.25%, 2/25/22			22		22,990
7.75%, 3/01/41			195		179,400
Constellium NV, 5.75%, 5/15/24 (e)(f)			1,127		879,060
First Quantum Minerals Ltd. (e):
7.00%, 2/15/21			119		93,936
7.25%, 5/15/22			356		272,340


Corporate Bonds		Par (000)		Value
Metals & Mining (continued)
FMG Resources August 2006 Property Ltd., 9.75%, 3/01/22 (e)	USD		189	$	201,285
Freeport-McMoRan, Inc.:
2.30%, 11/14/17			286		278,850
2.38%, 3/15/18 (f)			1,563		1,516,110
3.10%, 3/15/20			160		145,900
4.00%, 11/14/21			135		117,113
3.55%, 3/01/22			656		549,400
3.88%, 3/15/23 (f)			853		701,592
5.40%, 11/14/34			411		311,332
5.45%, 3/15/43 (f)			221		166,786
Glencore Finance Europe SA, 4.63%, 4/03/18	EUR		100		117,396
Joseph T Ryerson & Son, Inc., 11.00%, 5/15/22 (e)	USD		172		176,730
Kaiser Aluminum Corp.:
8.25%, 6/01/20 (f)			510		531,037
5.88%, 5/15/24 (e)			112		114,957
Novelis, Inc.:
8.38%, 12/15/17			175		178,938
8.75%, 12/15/20 (f)			1,194		1,238,775
Steel Dynamics, Inc.:
5.13%, 10/01/21 (f)			645		657,500
6.38%, 8/15/22 (f)			555		582,750
5.25%, 4/15/23			200		205,160
5.50%, 10/01/24			56		57,551
Teck Resources Ltd.:
2.50%, 2/01/18			257		258,927
3.00%, 3/01/19			291		278,632
8.00%, 6/01/21 (e)(g)			277		282,540
3.75%, 2/01/23			99		72,023
8.50%, 6/01/24 (e)(g)			341		349,525
United States Steel Corp., 8.38%, 7/01/21 (e)			320		330,400
Wise Metals Group LLC/Wise Alloys Finance Corp., 8.75%, 12/15/18 (e)(f)			388		355,990

					13,123,716
Multi-Utilities — 0.3%
Brooklyn Union Gas Co., 3.41%, 3/10/26 (e)(f)			1,475		1,538,786
Multiline Retail — 0.1%
Neiman Marcus Group Ltd., 8.00%, 10/15/21 (e)(f)			566		427,330
Offshore Drilling & Other Services — 0.1%
Lam Research Corp., 3.90%, 6/15/26 (g)			355		361,319



BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016	11


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds		Par (000)		Value
Offshore Drilling & Other Services (continued)
Sensata Technologies BV, 5.63%, 11/01/24 (e)	USD		179	$	187,503

					548,822
Oil, Gas & Consumable Fuels — 5.2%
Alberta Energy Co. Ltd., 7.38%, 11/01/31			73		69,980
California Resources Corp., 8.00%, 12/15/22 (e)(f)			1,817		1,326,410
Carrizo Oil & Gas, Inc., 6.25%, 4/15/23 (f)			695		679,362
Cenovus Energy, Inc.:
5.70%, 10/15/19			44		45,018
3.00%, 8/15/22			37		32,937
3.80%, 9/15/23 (f)			100		89,210
6.75%, 11/15/39 (f)			166		159,516
5.20%, 9/15/43			20		15,818
Cheniere Corpus Christi Holdings LLC, 7.00%, 6/30/24 (e)			513		525,825
Chesapeake Energy Corp.:
3.88%, 4/15/19 (d)			407		298,891
6.63%, 8/15/20			50		32,750
8.00%, 12/15/22 (e)			190		152,950
ConocoPhillips Co., 4.20%, 3/15/21 (f)			290		307,431
CONSOL Energy, Inc.:
5.88%, 4/15/22 (f)			1,571		1,280,365
8.00%, 4/01/23			54		46,440
Continental Resources, Inc.:
5.00%, 9/15/22			322		304,290
4.50%, 4/15/23			197		179,393
3.80%, 6/01/24 (f)			680		593,300
4.90%, 6/01/44			165		135,712
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 6.25%, 4/01/23 (e)			35		32,725
CrownRock LP/CrownRock Finance, Inc., 7.13%, 4/15/21 (e)(f)			1,020		1,055,700
Denbury Resources, Inc., 9.00%, 5/15/21 (e)			578		568,607
Diamondback Energy, Inc., 7.63%, 10/01/21			471		499,849
Encana Corp. (f):
3.90%, 11/15/21			147		130,830
6.50%, 8/15/34			256		226,798
6.63%, 8/15/37			161		141,796
6.50%, 2/01/38			465		410,832
5.15%, 11/15/41			193		141,924
Energy Transfer Equity LP (f):
7.50%, 10/15/20			429		437,580
5.88%, 1/15/24			582		539,805


Corporate Bonds		Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
Energy Transfer Equity LP (f) (continued):
5.50%, 6/01/27	USD		500	$	433,750
Freeport-McMoRan Oil & Gas LLC/FCX Oil & Gas, Inc.:
6.50%, 11/15/20			135		129,600
6.63%, 5/01/21			135		127,912
Genesis Energy LP / Genesis Energy Finance Corp., 5.63%, 6/15/24			83		74,493
Gulfport Energy Corp.:
7.75%, 11/01/20			218		221,270
6.63%, 5/01/23			21		20,633
Hilcorp Energy I LP/Hilcorp Finance Co. (e):
7.63%, 4/15/21			45		46,463
5.00%, 12/01/24 (f)			377		358,150
Marathon Oil Corp., 5.20%, 6/01/45 (f)			290		243,599
Matador Resources Co., 6.88%, 4/15/23			390		391,950
MEG Energy Corp. (e):
6.50%, 3/15/21			384		302,400
7.00%, 3/31/24 (f)			1,669		1,285,130
Memorial Resource Development Corp., 5.88%, 7/01/22 (f)			569		566,866
NGPL PipeCo LLC (e):
7.12%, 12/15/17 (f)			2,203		2,304,889
9.63%, 6/01/19			353		369,767
7.77%, 12/15/37			129		126,742
Oasis Petroleum, Inc.:
7.25%, 2/01/19			40		38,300
6.50%, 11/01/21			300		270,750
6.88%, 3/15/22 (f)			522		480,240
6.88%, 1/15/23			175		157,937
ONEOK, Inc., 4.25%, 2/01/22			70		63,000
Parsley Energy LLC/Parsley Finance Corp. (e):
7.50%, 2/15/22 (f)			515		543,969
6.25%, 6/01/24			61		62,068
QEP Resources, Inc.:
6.88%, 3/01/21			74		74,370
5.25%, 5/01/23			35		32,200
Range Resources Corp.:
5.75%, 6/01/21			161		156,572
5.00%, 3/15/23			275		255,750
4.88%, 5/15/25			40		37,800
Rockies Express Pipeline LLC (e):
6.85%, 7/15/18			183		190,320
6.00%, 1/15/19			20		20,750
5.63%, 4/15/20 (f)			550		559,625
6.88%, 4/15/40			55		53,625



12	BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds		Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
RSP Permian, Inc., 6.63%, 10/01/22	USD		291	$	300,457
Sabine Pass Liquefaction LLC:
5.63%, 2/01/21			245		250,206
5.63%, 4/15/23 (f)			762		769,620
5.75%, 5/15/24 (f)			584		586,920
5.63%, 3/01/25 (f)			252		252,000
Sabine Pass LNG LP, 7.50%, 11/30/16 (f)			2,249		2,299,602
Sanchez Energy Corp.:
7.75%, 6/15/21			50		38,250
6.13%, 1/15/23 (f)			1,054		758,880
Seven Generations Energy Ltd. (e):
8.25%, 5/15/20 (f)			955		997,975
6.75%, 5/01/23			186		188,790
SM Energy Co.:
6.13%, 11/15/22 (f)			503		460,245
5.00%, 1/15/24			10		8,551
Southwestern Energy Co.:
3.30%, 1/23/18			298		287,570
7.50%, 2/01/18			188		188,940
4.10%, 3/15/22			35		28,525
Targa Resources Partners LP/Targa Resources Partners Finance Corp.:
6.88%, 2/01/21			73		73,913
6.38%, 8/01/22			85		84,363
5.25%, 5/01/23			15		14,100
6.75%, 3/15/24 (e)			73		72,088
Tesoro Logistics LP/Tesoro Logistics Finance Corp.:
5.88%, 10/01/20 (f)			138		142,140
6.13%, 10/15/21			39		40,268
6.38%, 5/01/24			111		114,330
Weatherford International LLC:
6.35%, 6/15/17			185		186,850
6.80%, 6/15/37			52		34,840
Weatherford International Ltd.:
6.00%, 3/15/18			252		248,220
5.13%, 9/15/20			159		128,790
4.50%, 4/15/22			112		86,800
6.50%, 8/01/36			75		48,563
7.00%, 3/15/38			85		56,950
5.95%, 4/15/42			161		102,637
Whiting Petroleum Corp.:
5.00%, 3/15/19			36		32,400
1.25%, 4/01/20 (e)(f)(j)			1,298		986,480
5.75%, 3/15/21			450		381,375
6.25%, 4/01/23			206		169,950
Williams Cos., Inc.:
3.70%, 1/15/23			43		36,228
4.55%, 6/24/24			332		289,670


Corporate Bonds		Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
WPX Energy, Inc.:
5.25%, 1/15/17	USD		40	$	39,900
7.50%, 8/01/20			70		68,600
6.00%, 1/15/22			330		297,000
8.25%, 8/01/23			190		185,725

					31,801,645
Paper & Forest Products — 0.0%
Unifrax I LLC/Unifrax Holding Co., 7.50%, 2/15/19 (e)			260		208,000
Pharmaceuticals — 1.7%
AbbVie, Inc., 3.60%, 5/14/25 (f)			695		715,626
Actavis Funding SCS, 3.45%, 3/15/22 (f)			2,460		2,499,126
Capsugel SA, (7.00% Cash or 7.75% PIK), 7.00%, 5/15/19 (e)(h)			121		121,454
DPx Holdings BV, 7.50%, 2/01/22 (e)			110		112,750
Endo Finance LLC/Endo Finco, Inc. (e):
7.50%, 1/15/22			121		112,227
6.00%, 7/15/23 (f)			433		379,053
6.00%, 2/01/25 (f)			398		345,265
Ephios Bondco PLC, 6.25%, 7/01/22	EUR		100		117,106
Grifols Worldwide Operations Ltd., 5.25%, 4/01/22 (f)	USD		479		489,777
Jaguar Holding Co. II/Pharmaceutical Product Development LLC, 6.38%, 8/01/23 (e)(f)			1,179		1,203,759
NBTY, Inc., 7.63%, 5/15/21 (e)			596		607,920
Valeant Pharmaceuticals International, Inc.:
6.75%, 8/15/18 (e)			1,044		1,020,510
5.38%, 3/15/20 (e)			594		524,205
6.38%, 10/15/20 (e)			899		800,110
7.50%, 7/15/21 (e)			335		303,175
5.63%, 12/01/21 (e)			341		288,145
5.50%, 3/01/23 (e)			16		13,280
4.50%, 5/15/23	EUR		300		256,188
5.88%, 5/15/23 (e)	USD		261		219,892
6.13%, 4/15/25 (e)			70		58,538

					10,188,106
Real Estate — 0.3%
AvalonBay Communities, Inc., 3.45%, 6/01/25 (f)			1,245		1,295,187
Prologis LP, 3.75%, 11/01/25 (f)			255		267,857

					1,563,044



BLACKROCK LIMITED DURATION INCOME TRUST	MAY 31, 2016	13


Schedule of Investments (continued)		BlackRock Limited Duration Income Trust (BLW)


Corporate Bonds		Par (000)		Value
Real Estate Investment Trusts (REITs) — 0.7%
Aroundtown Property Holdings PLC, 3.00%, 12/09/21	EUR		200	$	227,070
ERP Operating LP, 3.38%, 6/01/25 (f)	USD		1,015		1,053,258
FelCor Lodging LP, 6.00%, 6/01/25			95		98,088
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 5.63%, 10/15/21 (f)			485		502,270
iStar Financial, Inc., 4.00%, 11/01/17			250		249,050
Ventas Realty LP, 4.13%, 1/15/26 (f)			650		680,597
Ventas Realty LP/Ventas Capital Corp., 4.75%, 6/01/21 (f)			1,300		1,426,459

					4,236,792
Real Estate Management & Development — 0.5%
Realogy Group LLC/Realogy Co-Issuer Corp. (e):
4.50%, 4/15/19 (f)			611		629,330
5.25%, 12/01/21 (f)			1,632		1,689,120
4.88%, 6/01/23 (g)			453		449,036
Rialto Holdings LLC/Rialto Corp., 7.00%, 12/01/18 (e)			220		217,250
Tesco Property Finance 4 PLC, 5.80%, 10/13/40	GBP		99		129,142

					3,113,878
Road & Rail — 1.1%
Avis Budget Car Rental LLC/Avis Budget Finance, Inc. (e):