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 52nd Street, New York, NY 10055

 

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

 

Date of fiscal year end: 08/31/2014

 

Date of reporting period: 05/31/2014

 

Item 1 – Schedule of Investments

 
 
Consolidated Schedule of Investments May 31, 2014 (Unaudited) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Common Stocks
Shares
  Value  
 
Auto Components — 0.0%  
Lear Corp.   807 $ 71,056  
 
Construction & Engineering — 0.0%  
USI United Subcontractors (a)   6,454   109,718  
 
Diversified Consumer Services — 0.2%  
Cengage Thomson Learning (a)   38,155   1,380,753  
 
Diversified Financial Services — 0.4%  
Kcad Holdings I Ltd. (a)   384,412,912   2,406,425  
 
Hotels, Restaurants & Leisure — 0.2%  
BLB Worldwide Holdings, Inc. (a)   51,947   1,603,864  
 
Paper & Forest Products — 0.2%  
NewPage Holdings, Inc.   13,780   1,171,300  
 
Software — 0.3%  
HMH Holdings/EduMedia (a)   128,441   2,340,195  
 
Total Common Stocks1.3%   9,083,311  
 
 
 
Asset-Backed Securities Par
(000)
     
 
   
Asset-Backed Securities — 4.7%  
ACAS CLO Ltd. (b)(c):          
  Series 2007-1A, Class A1S, 0.44%, 4/20/21 USD 746   736,254  
  Series 2013-1A, Class D, 3.83%, 4/20/25   750   725,625  
Adirondack Park CLO Ltd., Series 2013-1A, Class D, 3.88%, 4/15/24 (b)(c)   1,750   1,694,173  
Aircraft Lease Securitisation Ltd., Series 2007-1A, Class G3, 0.41%, 5/10/32 (b)(c)   658   638,291  
ALM Loan Funding, Series 2013-7RA (b)(c):          
  Class C, 3.68%, 4/24/24   1,210   1,167,344  
  Class D, 5.23%, 4/24/24   1,040   993,483  
Atrium CDO Corp., Series 9A, Class D, 3.73%, 2/28/24 (b)(c)   1,100   1,059,103  
Battalion CLO IV Ltd., Series 2013-4A, Class C, 3.58%, 10/22/25 (b)(c)   500   468,127  
Capital One Multi-Asset Execution Trust, Series 4-3C, 6.63%, 4/19/17 GBP 2,650   4,446,910  
Carlyle Global Market Strategies CLO Ltd., Series 2013-1A, Class C, 4.23%, 2/14/25 (b)(c) USD 250   246,432  
CarMax Auto Owner Trust, Series 2012-3, Class D, 2.29%, 4/15/19   2,530   2,575,887  
            
Asset-Backed Securities Par
(000)
  Value  
 
Asset-Backed Securities (concluded)  
Cent CLO, Series 2014-21A, Class C, 3.73%, 7/27/26 (b)(c)(d) USD  1,000 $ 940,000  
Central Park CLO Ltd., Series 2011-1A, Class D, 3.43%, 7/23/22 (b)(c)   500   492,597  
Countrywide Asset-Backed Certificates, Series 2007-7, Class 2A2, 0.31%, 10/25/47 (b)   1,444   1,417,908  
Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B, 2.50%, 1/25/30 (c)   2,661   2,531,607  
Fraser Sullivan CLO VII Ltd., Series 2012-7A, Class C, 4.23%, 4/20/23 (b)(c)   1,090   1,081,329  
GSAA Trust, Series 2007-3, Class 1A2, 0.32%, 3/25/47 (b)   2,775   1,381,256  
Halcyon Loan Advisors Funding Ltd., Series 2013-1A, Class C, 3.73%, 4/15/25 (b)(c)   1,000   948,555  
Jamestown CLO Ltd., Series 2014-4A, Class C, 3.73%, 7/15/26 (b)(c)(d)   1,165   1,097,849  
Madison Park Funding Ltd, Series 2012-10A, Class D, 4.48%, 1/20/25 (b)(c)   700   702,741  
Madison Park Funding XI Ltd., Series 2013-11A, Class D, 3.73%, 10/23/25 (b)(c)   420   403,576  
Octagon Investment Partners XVI Ltd., Series 2013-1A, Class D, 3.58%, 7/17/25 (b)(c)   2,000   1,912,408  
OZLM Funding Ltd., Series 2012-2A, Class C, 4.57%, 10/30/23 (b)(c)   500   501,379  
Regatta Funding LP, Series 2013-2A, Class C, 4.23%, 1/15/25 (b)(c)   500   491,547  
Santander Drive Auto Receivables Trust, Series 2011-S2A, Class B, 2.06%, 6/15/17 (c)   115   114,633  
World Financial Network Credit Card Master Trust, Series 2012-C, Class B, 3.57%, 8/15/22   3,000   3,065,829  
   
    31,834,843  
 
Interest Only Asset-Backed Securities — 0.2%  
Sterling Bank Trust, Series 2004-2, Class Note, 2.08%, 3/30/30 (c)   8,130   592,001  
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 20141
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Asset-Backed Securities Par
(000)
  Value  
 
Interest Only Asset-Backed Securities (concluded)  
Sterling Coofs Trust, Series 2004-1, Class A, 2.36%, 4/15/29 (c) USD  8,771 $ 594,754  
   
    1,186,755  
 
Total Asset-Backed Securities — 4.9%   33,021,598  
 
 
 
Corporate Bonds  
 
Aerospace & Defense — 0.5%  
DigitalGlobe, Inc., 5.25%, 2/01/21 (e)   928   911,760  
Huntington Ingalls Industries, Inc., 7.13%, 3/15/21   570   622,725  
Meccanica Holdings USA, Inc., 6.25%, 7/15/19 (c)   339   370,357  
Transdigm, Inc. (c)(d):          
  6.00%, 7/15/22   730   735,475  
  6.50%, 7/15/24   690   700,350  
   
    3,340,667  
 
Airlines — 2.9%  
Air Canada Pass-Through Trust, Series 2013-1, Class C, 6.63%, 5/15/18 (c)   651   675,933  
American Airlines Pass-Through Trust, Series 2013-2 (c):          
  Class A, 4.95%, 7/15/24 (e)   3,749   4,043,864  
  Class B, 5.60%, 1/15/22   736   770,651  
  Class C, 6.00%, 1/15/17 (e)   2,600   2,717,000  
Continental Airlines Pass-Through Trust, Series 2012-3, Class C, 6.13%, 4/29/18 (e)   2,090   2,225,850  
Continental Airlines, Inc., 6.75%, 9/15/15 (c)(e)   1,350   1,367,550  
Delta Air Lines Pass-Through Trust, Series 2009-1, Class B, 9.75%, 6/17/18   226   258,527  
United Continental Holdings, Inc., 6.00%, 12/01/20 (e)   950   990,375  
US Airways Pass-Through Trust, Class C (e):          
  Series 2011-1, 10.88%, 10/22/14   615   636,363  
  Series 2012-1, 9.13%, 10/01/15   1,754   1,858,795  
Virgin Australia Trust, Series 2013-1 (c):          
  Class A, 5.00%, 4/23/25   772   821,625  
  Class B, 6.00%, 4/23/22   1,627   1,704,157  
              
Corporate Bonds Par
(000)
  Value  
 
Airlines (concluded)  
Virgin Australia Trust, Series 2013-1 (c) (concluded):          
  Class C, 7.13%, 10/23/18 USD  1,181 $ 1,219,250  
   
    19,289,940  
 
Auto Components — 1.2%  
Affinia Group, Inc., 7.75%, 5/01/21 (e)   1,095   1,168,913  
Autodis SA, 6.50%, 2/01/19 EUR 100   141,637  
Brighthouse Group PLC, 7.88%, 5/15/18 GBP 100   177,048  
Grupo Antolin Dutch BV, 4.75%, 4/01/21 EUR 206   285,541  
Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.88%, 3/15/19 USD 2,058   2,106,877  
Jaguar Land Rover Automotive PLC, 8.25%, 3/15/20 GBP 554   1,045,025  
Pittsburgh Glass Works LLC, 8.00%, 11/15/18 (c) USD 445   486,163  
Rhino Bondco SpA, 7.25%, 11/15/20 EUR 110   161,192  
Schaeffler Holding Finance BV:          
  2.75%, 5/15/19   405   550,797  
  6.88% (6.88% Cash or 7.63% PIK), 8/15/18 (c)(e)(f) USD 1,085   1,146,031  
  6.88% (6.88% Cash), 8/15/18 (f) EUR 375   539,935  
Titan International, Inc., 6.88%, 10/01/20 (c) USD 555   573,731  
   
    8,382,890  
 
Auto Parts — 0.0%  
PetroLogistics LP/PetroLogistics Finance Corp., 6.25%, 4/01/20   260   281,450  
 
Automobiles — 0.9%  
Chrysler Group LLC/CG Co-Issuer, Inc.:          
  8.00%, 6/15/19 (e)   1,087   1,187,548  
  8.25%, 6/15/21   1,165   1,328,100  
Ford Motor Co., 4.25%, 11/15/16 (g)   434   830,296  
General Motors Co., 3.50%, 10/02/18 (c)(e)   2,478   2,539,950  
   
    5,885,894  
 
Beverages — 0.0%  
Constellation Brands, Inc., 7.25%, 5/15/17   82   94,300  
 
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 20142
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Corporate Bonds Par
(000)
  Value  
 
Building Products — 1.1%  
American Builders & Contractors Supply Co., Inc., 5.63%, 4/15/21 (c) USD 385 $ 398,475  
BMBG Bond Finance SCA, 5.33%, 10/15/20 (b) EUR 200   274,674  
Builders FirstSource, Inc., 7.63%, 6/01/21 (c)(e) USD 890   952,300  
Building Materials Corp. of America, 6.75%, 5/01/21 (c)(e)   1,030   1,112,400  
Cemex Finance LLC, 6.00%, 4/01/24 (c)   1,045   1,072,431  
CPG Merger Sub LLC, 8.00%, 10/01/21 (c)(e)   1,030   1,089,225  
Ply Gem Industries, Inc., 6.50%, 2/01/22 (c)   745   730,100  
USG Corp., 9.75%, 1/15/18 (e)   1,390   1,666,263  
   
    7,295,868  
 
Capital Markets — 1.0%  
American Capital Ltd., 6.50%, 9/15/18 (c)(e)   975   1,043,250  
Blackstone CQP Holdco LP, 2.32%, 3/18/19   695   700,477  
E*Trade Financial Corp., 0.00%, 8/31/19 (c)(g)(h)   249   491,775  
The Goldman Sachs Group, Inc., 3.30%, 5/03/15 (e)   3,285   3,365,703  
SteelRiver Transmission Co. LLC, 4.71%, 6/30/17 (c)(e)   1,064   1,123,968  
   
    6,725,173  
 
Chemicals — 1.4%  
Ashland, Inc., 3.88%, 4/15/18 (e)   675   693,562  
Chemtura Corp., 5.75%, 7/15/21   200   206,250  
Huntsman International LLC:          
  8.63%, 3/15/21 (e)   655   730,325  
  5.13%, 4/15/21 EUR 331   467,084  
INEOS Group Holdings SA:          
  6.13%, 8/15/18 (c) USD 680   703,800  
  6.50%, 8/15/18 EUR 328   468,351  
  5.75%, 2/15/19   340   478,881  
LSB Industries, Inc., 7.75%, 8/01/19 (c) USD 301   321,318  
Nufarm Australia Ltd., 6.38%, 10/15/19 (c)(e)   320   332,800  
Orion Engineered Carbons Bondco GmbH, 9.63%, 6/15/18 (c)(e)   898   967,595  
Rockwood Specialties Group, Inc., 4.63%, 10/15/20 (e)   3,175   3,258,344  
US Coatings Acquisition, Inc./Axalta Coating Systems Dutch Holding BV:          
  5.75%, 2/01/21 EUR 200   292,396  
              
Corporate Bonds Par
(000)
  Value  
 
Chemicals (concluded)  
US Coatings Acquisition, Inc./Axalta Coating Systems Dutch Holding BV (concluded):          
  7.38%, 5/01/21 (c) USD 398 $ 435,810  
   
    9,356,516  
 
Commercial Banks — 0.8%  
CIT Group, Inc.:          
  5.00%, 5/15/17   890   951,188  
  5.50%, 2/15/19 (c)(e)   1,370   1,479,600  
HSBC Holdings PLC, 6.25%, 3/19/18 EUR 1,000   1,600,120  
Nordea Bank AB, 4.50%, 3/26/20   1,020   1,591,472  
   
    5,622,380  
 
Commercial Services & Supplies — 1.3%  
AA Bond Co., Ltd., 9.50%, 7/31/43 GBP 306   575,749  
ACCO Brands Corp., 6.75%, 4/30/20 USD 100   104,625  
ADS Waste Holdings, Inc., 8.25%, 10/01/20   292   316,090  
ARAMARK Corp., 5.75%, 3/15/20 (e)   712   757,390  
Aviation Capital Group Corp., 4.63%, 1/31/18 (c)(e)   1,000   1,050,509  
Bilbao Luxembourg SA, 10.50% (10.50% Cash or 11.25% PIK) 12/01/18 (f) EUR 100   143,131  
Brand Energy & Infrastructure Services, Inc., 8.50%, 12/01/21 (c)(e) USD 617   654,020  
Catalent Pharma Solutions, Inc., 7.88%, 10/15/18   306   311,355  
Covanta Holding Corp., 6.38%, 10/01/22   100   107,625  
Mobile Mini, Inc., 7.88%, 12/01/20   915   1,011,075  
United Rentals North America, Inc.:          
  5.75%, 7/15/18 (e)   494   527,345  
  7.63%, 4/15/22   1,518   1,721,032  
  5.75%, 11/15/24   1,039   1,075,365  
West Corp., 8.63%, 10/01/18   165   174,900  
   
    8,530,211  
 
Communications Equipment — 2.0%  
ADC Telecommunications, Inc., 3.50%, 7/15/15 (g)   6,670   6,736,700  
Alcatel-Lucent USA, Inc. (c):          
  4.63%, 7/01/17 (e)   800   822,000  
  6.75%, 11/15/20   1,560   1,657,500  
Avaya, Inc., 7.00%, 4/01/19 (c)   437   432,630  
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 20143
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Corporate Bonds Par
(000)
  Value  
 
Communications Equipment (concluded)  
CommScope, Inc. (c):          
  5.00%, 6/15/21 USD  215 $ 216,075  
  5.50%, 6/15/24   221   222,105  
Zayo Group LLC/Zayo Capital, Inc. (e):          
  8.13%, 1/01/20   1,800   1,966,500  
  10.13%, 7/01/20   1,460   1,686,300  
   
    13,739,810  
 
Construction & Engineering — 0.1%  
BlueLine Rental Finance Corp., 7.00%, 2/01/19 (c)   165   176,550  
Officine MaccaFerri SpA, 5.75%, 6/01/21 (d) EUR 150   208,501  
Safway Group Holding LLC/Safway Finance Corp., 7.00%, 5/15/18 (c) USD 258   273,480  
Weekley Homes LLC/Weekley Finance Corp., 6.00%, 2/01/23   320   320,800  
   
    979,331  
 
Construction Materials — 1.3%  
HD Supply, Inc. (e):          
  8.13%, 4/15/19   4,285   4,724,212  
  11.00%, 4/15/20   770   910,525  
  7.50%, 7/15/20   2,696   2,925,160  
   
    8,559,897  
 
Consumer Finance — 0.7%  
Ford Motor Credit Co. LLC (e):          
  3.88%, 1/15/15   2,475   2,525,198  
  7.00%, 4/15/15   400   422,112  
Hyundai Capital America, 3.75%, 4/06/16 (c)(e)   1,285   1,347,817  
IVS F. SpA, 7.13%, 4/01/20 EUR 235   340,394  
Springleaf Finance Corp.:          
  7.75%, 10/01/21 USD 52   58,110  
  8.25%, 10/01/23   94   106,220  
   
    4,799,851  
 
Containers & Packaging — 0.4%  
Berry Plastics Corp., 9.75%, 1/15/21   290   334,225  
Beverage Packaging Holdings Luxembourg II SA, 6.00%, 6/15/17 (c)(e)   1,560   1,591,200  
Crown Americas LLC/Crown Americas Capital Corp. III, 6.25%, 2/01/21 (e)   144   154,800  
SGD Group SAS, 5.63%, 5/15/19 EUR 100   139,739  
            
Corporate Bonds Par
(000)
  Value  
 
Containers & Packaging (concluded)  
Signode Industrial Group Lux SA/Signode Industrial Group US, Inc., 6.38%, 5/01/22 (c) USD 267 $ 269,670  
   
    2,489,634  
 
Distributors — 0.1%  
VWR Funding, Inc., 7.25%, 9/15/17 (e)   874   928,625  
 
Diversified Consumer Services — 0.3%  
APX Group, Inc.:          
  6.38%, 12/01/19   76   77,900  
  8.75%, 12/01/20   357   364,140  
Garda World Security Corp., 7.25%, 11/15/21 (c)   275   289,094  
Laureate Education, Inc., 9.25%, 9/01/19 (c)   1,020   1,071,000  
   
    1,802,134  
 
Diversified Financial Services — 2.4%  
Aircastle Ltd., 6.25%, 12/01/19 (e)   367   397,278  
Ally Financial, Inc. (e):          
  8.30%, 2/12/15   2,460   2,576,850  
  8.00%, 11/01/31   3,146   3,924,382  
CE Energy AS, 7.00%, 2/01/21 EUR 150   214,185  
Co-Operative Group Holdings, 5.63%, 7/08/20 (i) GBP 190   335,994  
DPL, Inc., 6.50%, 10/15/16 USD 70   75,600  
Jefferies Finance LLC/JFIN Co-Issuer Corp. (c):          
  7.38%, 4/01/20 (e)   585   614,250  
  6.88%, 4/15/22   456   459,420  
Leucadia National Corp., 8.13%, 9/15/15 (e)   1,870   2,027,080  
Macquarie Bank Ltd./London, 10.25%, 6/20/57 (b)   1,450   1,647,925  
Reynolds Group Issuer, Inc.:          
  7.13%, 4/15/19 (e)   1,294   1,358,700  
  9.00%, 4/15/19   180   190,800  
  9.88%, 8/15/19   535   589,169  
  5.75%, 10/15/20 (e)   800   832,000  
  6.88%, 2/15/21 (e)   820   883,550  
   
    16,127,183  
 
Diversified Telecommunication Services — 3.7%  
CenturyLink, Inc., Series V, 5.63%, 4/01/20 (e)   906   958,095  
Level 3 Communications, Inc., 8.88%, 6/01/19 (e)   735   804,825  
Level 3 Financing, Inc.:          
  3.82%, 1/15/18 (b)(c)   411   417,165  
  8.13%, 7/01/19 (e)   3,083   3,368,177  
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 20144
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Corporate Bonds Par
(000)
  Value  
 
Diversified Telecommunication Services (concluded)  
Level 3 Financing, Inc. (concluded):          
  7.00%, 6/01/20 USD  495 $ 535,837  
  6.13%, 1/15/21 (c)(e)   1,682   1,778,715  
Telecom Italia SpA:          
  6.13%, 11/15/16 (g) EUR 300   506,069  
  6.38%, 6/24/19 GBP 200   365,561  
  4.88%, 9/25/20 EUR 220   324,127  
  4.50%, 1/25/21   270   389,754  
  5.88%, 5/19/23 GBP 450   787,919  
Telenet Finance V Luxembourg SCA:          
  6.25%, 8/15/22 EUR 271   398,516  
  6.75%, 8/15/24   397   596,641  
Verizon Communications, Inc., 3.65%, 9/14/18 (e) USD 13,000   13,931,684  
Windstream Corp., 7.75%, 10/15/20   46   49,910  
   
    25,212,995  
 
Electric Utilities — 0.3%  
ContourGlobal Power Holdings SA, 7.13%, 6/01/19 (c)   728   737,100  
Homer City Generation LP (f):          
  8.14% (8.14% Cash or 8.64% PIK), 10/01/19   345   367,425  
  8.73% (8.73% Cash or 9.23% PIK), 10/01/26   599   640,181  
Mirant Mid Atlantic Pass-Through Trust, Series B, 9.13%, 6/30/17   538   586,304  
   
    2,331,010  
 
Electrical Equipment — 0.1%  
Belden, Inc., 5.50%, 4/15/23 EUR 140   198,475  
Techem Energy Metering Service GmbH & Co., 7.88%, 10/01/20   106   161,833  
   
    360,308  
 
Energy Equipment & Services — 0.9%  
Calfrac Holdings LP, 7.50%, 12/01/20 (c) USD 503   536,953  
CGG SA, 7.75%, 5/15/17 (e)   330   333,300  
Gulfmark Offshore, Inc., 6.38%, 3/15/22   185   192,400  
Hornbeck Offshore Services, Inc., 5.88%, 4/01/20 (e)   375   390,000  
MEG Energy Corp. (c)(e):          
  6.50%, 3/15/21   358   379,033  
  7.00%, 3/31/24   864   933,120  
Peabody Energy Corp. (e):          
  6.00%, 11/15/18   1,004   1,046,670  
  6.25%, 11/15/21   991   991,000  
              
Corporate Bonds Par
(000)
  Value  
 
Energy Equipment & Services (concluded)  
Precision Drilling Corp., 5.25%, 11/15/24 (c) USD  522 $ 527,220  
Rain CII Carbon LLC/CII Carbon Corp., 8.25%, 1/15/21 (c)(e)   535   555,062  
Transocean, Inc., 6.00%, 3/15/18 (e)   230   259,413  
   
    6,144,171  
 
Food & Staples Retailing — 0.7%  
Brakes Capital, 7.13%, 12/15/18 GBP 1,655   2,812,253  
Premier Foods Finance PLC:          
  5.52%, 3/15/20 (b)   115   193,823  
  6.50%, 3/15/21   100   173,084  
R&R Ice Cream PLC:          
  5.50%, 5/15/20   105   173,361  
  9.25% (9.25% Cash), 5/15/18 (f) EUR 314   436,590  
Rite Aid Corp., 9.25%, 3/15/20 USD 1,095   1,248,300  
   
    5,037,411  
 
Food Products — 0.3%  
Findus Bondco SA:          
  9.13%, 7/01/18 EUR 187   277,214  
  9.50%, 7/01/18 GBP 100   182,295  
Post Holdings, Inc., 6.75%, 12/01/21 (c) USD 252   267,120  
Smithfield Foods, Inc.:          
  5.88%, 8/01/21 (c)   193   205,062  
  6.63%, 8/15/22   783   858,364  
Univeg Holding BV, 7.88%, 11/15/20 EUR 135   187,709  
   
    1,977,764  
 
Gas Utilities — 0.2%  
Targa Resources Partners LP/Targa Resources Partners Finance Corp., 7.88%, 10/15/18 (e) USD 1,515   1,605,900  
 
Health Care Equipment & Supplies — 0.8%  
3AB Optique Developpement SAS, 5.63%, 4/15/19 EUR 170   225,363  
Biomet, Inc., 6.50%, 10/01/20 (e) USD 418   449,350  
CareFusion Corp., 5.13%, 8/01/14 (e)   3,000   3,021,675  
DJO Finance LLC/DJO Finance Corp., 8.75%, 3/15/18 (e)   413   443,975  
IDH Finance PLC, 6.00%, 12/01/18 GBP 113   196,987  
Kinetic Concepts, Inc./KCI USA, Inc., 12.50%, 11/01/19 USD 328   376,380  
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 20145
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Corporate Bonds Par
(000)
  Value  
 
Health Care Equipment & Supplies (concluded)  
Teleflex, Inc., 6.88%, 6/01/19 (e) USD  675 $ 719,718  
   
    5,433,448  
 
Health Care Providers & Services — 1.8%  
Aviv Healthcare Properties LP/Aviv Healthcare Capital Corp.:          
  7.75%, 2/15/19 (e)   995   1,062,162  
  6.00%, 10/15/21   232   244,760  
CHS/Community Health Systems, Inc.:          
  5.13%, 8/15/18 (e)   490   515,113  
  6.88%, 2/01/22 (c)   1,604   1,688,210  
Crown Newco 3 PLC, 7.00%, 2/15/18 GBP 335   592,130  
HCA Holdings, Inc., 7.75%, 5/15/21 USD 285   313,856  
HCA, Inc.:          
  3.75%, 3/15/19 (e)   1,121   1,140,617  
  6.50%, 2/15/20   160   181,800  
  5.88%, 3/15/22   82   89,278  
  4.75%, 5/01/23   108   108,000  
Hologic, Inc., 6.25%, 8/01/20 (e)   1,289   1,369,562  
Kindred Healthcare, Inc., 6.38%, 4/15/22 (c)   186   189,023  
Tenet Healthcare Corp.:          
  6.25%, 11/01/18   614   676,935  
  5.00%, 3/01/19 (c)   350   357,000  
  4.75%, 6/01/20   520   526,500  
  8.00%, 8/01/20   775   844,750  
  6.00%, 10/01/20   461   495,575  
  8.13%, 4/01/22 (e)   898   1,021,475  
Voyage Care Bondco PLC, 6.50%, 8/01/18 GBP 355   618,853  
   
    12,035,599  
 
Hotels, Restaurants & Leisure — 4.8%  
Caesars Entertainment Operating Co., Inc.:          
  8.50%, 2/15/20 USD 455   361,725  
  9.00%, 2/15/20   3,704   2,953,940  
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18 EUR 540   769,226  
Enterprise Funding Ltd., Series ETI, 3.50%, 9/10/20 (g) GBP 100   176,923  
Enterprise Inns PLC, 6.50%, 12/06/18   926   1,677,730  
Gamenet SpA, 7.25%, 8/01/18 EUR 100   140,404  
GLP Capital LP/GLP Financing II, Inc., 4.38%, 11/01/18 (c) USD 357   370,388  
Greektown Holdings LLC/Greektown Mothership Corp., 8.88%, 3/15/19 (c)   485   497,125  
            
Corporate Bonds Par
(000)
  Value  
 
Hotels, Restaurants & Leisure (concluded)  
Intralot Finance Luxembourg SA, 9.75%, 8/15/18 EUR 480 $ 745,916  
Isle of Capri Casinos, Inc.:          
  7.75%, 3/15/19 USD 70   74,550  
  5.88%, 3/15/21   294   298,410  
MCE Finance Ltd., 5.00%, 2/15/21 (c)(e)   941   938,647  
PNK Finance Corp., 6.38%, 8/01/21 (c)   268   282,070  
Six Flags Entertainment Corp., 5.25%, 1/15/21 (c)(e)   576   587,520  
Snai SpA, 7.63%, 6/15/18 EUR 205   300,823  
Spirit Issuer PLC (b):          
  Series A1, 1.07%, 12/28/28 GBP 603   863,616  
  Series A2, 3.22%, 12/28/31   1,800   2,836,128  
  Series A5, 5.47%, 12/28/34   4,500   7,278,893  
  Series A6, 2.32%, 12/28/36   2,670   4,285,244  
Station Casinos LLC, 7.50%, 3/01/21 (e) USD 2,245   2,435,825  
Travelport LLC/Travelport Holdings, Inc., 11.88%, 9/01/16 (c)   78   77,628  
Tropicana Entertainment LLC/Tropicana Finance Corp., 9.63%, 12/15/14 (a)(j)   375    
The Unique Pub Finance Co. PLC:          
  Series A3, 6.54%, 3/30/21 GBP 1,326   2,346,137  
  Series A4, 5.66%, 6/30/27   801   1,360,024  
Vougeot Bidco PLC, 7.88%, 7/15/20   218   396,928  
Wynn Macau Ltd., 5.25%, 10/15/21 (c)(e) USD 428   439,770  
   
    32,495,590  
 
Household Durables — 1.4%  
Algeco Scotsman Global Finance PLC, 9.00%, 10/15/18 EUR 530   780,267  
Ashton Woods USA LLC/Ashton Woods Finance Co., 6.88%, 2/15/21 (c) USD 510   513,825  
Beazer Homes USA, Inc.:          
  6.63%, 4/15/18   910   973,700  
  5.75%, 6/15/19 (c)   523   520,385  
Berkline/Benchcraft LLC, 1.00%, 11/03/14 (a)(j)   200    
Brookfield Residential Properties, Inc., 6.50%, 12/15/20 (c)(e)   925   975,875  
Brookfield Residential Properties, Inc./Brookfield Residential US Corp., 6.13%, 7/01/22 (c)   259   267,417  
K. Hovnanian Enterprises, Inc., 7.25%, 10/15/20 (c)(e)   2,130   2,300,400  
KB Home, 7.25%, 6/15/18 (e)   880   985,600  
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 20146
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Corporate Bonds Par
(000)
  Value  
 
Household Durables (concluded)  
Spie BondCo 3 SCA, 11.00%, 8/15/19 EUR 248 $ 383,206  
Standard Pacific Corp., 8.38%, 1/15/21 (e) USD 1,000   1,190,000  
Taylor Morrison Communities, Inc./Monarch Communities, Inc., 5.25%, 4/15/21 (c)   597   602,970  
   
    9,493,645  
 
Household Products — 0.2%  
Ontex IV SA, 9.00%, 4/15/19 EUR 353   524,499  
Spectrum Brands, Inc.:          
  6.38%, 11/15/20 USD 250   270,938  
  6.63%, 11/15/22   285   312,075  
   
    1,107,512  
 
Independent Power Producers & Energy Traders — 1.2%  
The AES Corp., 7.75%, 10/15/15 (e)   972   1,049,760  
Baytex Energy Corp. (c)(d):          
  5.13%, 6/01/21   170   172,125  
  5.63%, 6/01/24   141   141,881  
Calpine Corp. (c):          
  7.50%, 2/15/21   147   159,862  
  6.00%, 1/15/22   143   153,368  
  5.88%, 1/15/24   438   458,805  
Energy Future Intermediate Holding Co. LLC/EFIH Finance, Inc., 11.75%, 3/01/22 (a)(c)(j)   3,408   4,064,040  
NRG Energy, Inc.:          
  7.63%, 1/15/18 (e)   913   1,041,961  
  6.25%, 5/01/24 (c)   536   554,760  
NRG REMA LLC:          
  Series B, 9.24%, 7/02/17   85   88,346  
  Series C, 9.68%, 7/02/26 (e)   415   452,350  
   
    8,337,258  
 
Insurance — 1.5%  
Allied World Assurance Co., Ltd., 7.50%, 8/01/16 (e)   3,000   3,392,598  
CNO Financial Group, Inc., 6.38%, 10/01/20 (c)(e)   304   329,840  
Forethought Financial Group, Inc., 8.63%, 4/15/21 (c)(e)   750   858,115  
Galaxy Bidco Ltd., 6.38%, 11/15/20 GBP 100   170,560  
Hockey Merger Sub 2, Inc., 7.88%, 10/01/21 (c) USD 255   273,488  
MPL 2 Acquisition Canco, Inc., 9.88%, 8/15/18 (c)   595   642,600  
Muenchener Rueckversicherungs AG, 6.00%, 5/26/41 (b) EUR 400   650,453  
            
Corporate Bonds Par
(000)
  Value  
 
Insurance (concluded)  
Prudential Holdings LLC, 8.70%, 12/18/23 (c)(e) USD 2,871 $ 3,649,620  
TMF Group Holding BV, 9.88%, 12/01/19 EUR 310   466,503  
   
    10,433,777  
 
Internet Software & Services — 0.3%  
Cerved Group SpA:          
  6.38%, 1/15/20   100   147,902  
  8.00%, 1/15/21   100   151,310  
IAC/InterActiveCorp, 4.88%, 11/30/18 USD 695   728,012  
Interactive Data Corp., 5.88%, 4/15/19 (c)   741   746,557  
   
    1,773,781  
 
IT Services — 2.1%  
Ceridian Corp., 8.88%, 7/15/19 (c)(e)   1,395   1,572,862  
Ceridian HCM Holding, Inc., 11.00%, 3/15/21 (c)(e)   1,004   1,157,110  
Ceridian LLC/Comdata, Inc., 8.13%, 11/15/17 (c)(d)   655   661,550  
Epicor Software Corp., 8.63%, 5/01/19 (e)   1,260   1,368,675  
First Data Corp.:          
  7.38%, 6/15/19 (c)   1,775   1,903,687  
  6.75%, 11/01/20 (c)(e)   1,250   1,342,188  
  11.75%, 8/15/21   582   646,020  
SunGard Data Systems, Inc., 6.63%, 11/01/19 (e)   1,040   1,099,800  
The Western Union Co., 2.88%, 12/10/17 (e)   4,000   4,129,616  
WEX, Inc., 4.75%, 2/01/23 (c)(e)   550   532,813  
   
    14,414,321  
 
Machinery — 0.1%  
Amsted Industries, Inc., 5.00%, 3/15/22 (c)   298   298,745  
Galapagos Holding SA, 7.00%, 6/15/22 EUR 100   137,855  
Galapagos SA, 5.38%, 6/15/21   100   137,678  
Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc., 8.75%, 2/01/19 USD 167   178,064  
   
    752,342  
 
Media — 4.9%  
Adria Bidco BV, 7.88%, 11/15/20 EUR 140   206,108  
Altice Financing SA, 6.50%, 1/15/22 (c) USD 850   896,750  
Altice SA:          
  7.25%, 5/15/22 EUR 400   573,532  
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 20147
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Corporate Bonds Par
(000)
  Value  
 
Media (continued)  
Altice SA (concluded):          
  7.75%, 5/15/22 (c) USD 1,050 $ 1,103,812  
AMC Networks, Inc., 7.75%, 7/15/21 (e)   865   966,637  
CBS Outdoor Americas Capital LLC/CBS Outdoor Americas Capital Corp. (c):          
  5.25%, 2/15/22   105   107,625  
  5.63%, 2/15/24   85   87,338  
Cengage Learning Acquisitions, Inc., 11.50%, 4/15/20 (a)(j)   509    
Clear Channel Communications, Inc.:          
  9.00%, 12/15/19   345   367,425  
  9.00%, 3/01/21   966   1,031,205  
Clear Channel Worldwide Holdings, Inc.:          
  7.63%, 3/15/20   677   727,775  
  6.50%, 11/15/22 (e)   965   1,026,519  
  6.50%, 11/15/22   213   227,910  
Columbus International, Inc., 7.38%, 3/30/21 (c)   1,375   1,455,781  
DIRECTV Holdings LLC/DIRECTV Financing Co., Inc., 3.13%, 2/15/16 (e)   3,000   3,120,537  
DISH DBS Corp. (e):          
  7.13%, 2/01/16   200   218,000  
  4.25%, 4/01/18   1,330   1,389,850  
DreamWorks Animation SKG, Inc., 6.88%, 8/15/20 (c)   305   329,400  
Gannett Co., Inc. (c):          
  5.13%, 10/15/19   197   205,373  
  5.13%, 7/15/20   218   225,630  
  6.38%, 10/15/23   304   324,520  
Gray Television, Inc., 7.50%, 10/01/20 (e)   428   459,030  
Inmarsat Finance PLC, 4.88%, 5/15/22 (c)(d)   825   833,250  
Intelsat Jackson Holdings SA:          
  7.25%, 10/15/20 (e)   1,660   1,792,800  
  5.50%, 8/01/23 (c)   515   512,425  
Intelsat Luxembourg SA, 6.75%, 6/01/18   800   849,000  
Lamar Media Corp., 5.38%, 1/15/24 (c)   240   249,000  
Live Nation Entertainment, Inc., 7.00%, 9/01/20 (c)   185   202,113  
The McClatchy Co., 9.00%, 12/15/22   330   377,437  
MDC Partners, Inc., 6.75%, 4/01/20 (c)   733   775,147  
            
Corporate Bonds Par
(000)
  Value  
 
Media (concluded)  
Midcontinent Communications & Midcontinent Finance Corp., 6.25%, 8/01/21 (c) USD 245 $ 253,575  
NAI Entertainment Holdings/NAI Entertainment Holdings Finance Corp., 5.00%, 8/01/18 (c)   345   358,800  
Numericable Group SA:          
  4.88%, 5/15/19 (c)   1,770   1,805,400  
  5.38%, 5/15/22 EUR 110   158,194  
  6.00%, 5/15/22 (c) USD 1,530   1,587,375  
  5.63%, 5/15/24 EUR 260   374,550  
  6.25%, 5/15/24 (c) USD 510   533,587  
RCN Telecom Services LLC/RCN Capital Corp., 8.50%, 8/15/20 (c)   580   619,150  
Sirius XM Holdings, Inc., 5.75%, 8/01/21 (c)(e)   424   446,260  
Sterling Entertainment Corp., 10.00%, 12/15/19   1,175   1,198,500  
Townsquare Radio LLC/Townsquare Radio, Inc., 9.00%, 4/01/19 (c)   789   873,817  
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, 7.50%, 3/15/19   1,440   1,544,400  
Virgin Media Secured Finance PLC, 6.00%, 4/15/21 GBP 1,274   2,223,566  
VTR Finance BV, 6.88%, 1/15/24 (c) USD 512   542,722  
Ziggo Bond Co. BV, 8.00%, 5/15/18 (c) EUR 113   168,669  
   
    33,330,494  
 
Metals & Mining — 1.6%  
ArcelorMittal (e):          
  4.25%, 8/05/15 USD 738   757,373  
  6.13%, 6/01/18   612   670,905  
Constellium NV:          
  4.63%, 5/15/21 EUR 195   272,792  
  5.75%, 5/15/24 (c) USD 358   369,188  
Eco-Bat Finance PLC, 7.75%, 2/15/17 EUR 495   700,063  
Global Brass & Copper, Inc., 9.50%, 6/01/19 (e) USD 695   794,037  
Kaiser Aluminum Corp., 8.25%, 6/01/20 (e)   510   576,300  
Novelis, Inc., 8.75%, 12/15/20 (e)   2,375   2,639,219  
Perstorp Holding AB, 8.75%, 5/15/17 (c)   290   311,750  
Steel Dynamics, Inc., 6.38%, 8/15/22   555   604,256  
ThyssenKrupp AG, 3.13%, 10/25/19 EUR 400   560,541  
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 20148
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Corporate Bonds Par
(000)
  Value  
 
Metals & Mining (concluded)  
Wise Metals Group LLC/Wise Alloys Finance Corp., 8.75%, 12/15/18 (c)(e) USD 2,156 $ 2,296,140  
   
    10,552,564  
 
Multiline Retail — 0.1%  
The Neiman Marcus Group Ltd., 8.00%, 10/15/21 (c)(e)   856   941,600  
 
Oil, Gas & Consumable Fuels — 4.3%  
Access Midstream Partners LP/ACMP Finance Corp.:          
  4.88%, 5/15/23   455   475,475  
  4.88%, 3/15/24   209   218,928  
Antero Resources Finance Corp., 5.38%, 11/01/21 (e)   774   805,927  
Athlon Holdings LP/Athlon Finance Corp. (c):          
  7.38%, 4/15/21   254   275,590  
  6.00%, 5/01/22   265   270,963  
Bonanza Creek Energy, Inc., 6.75%, 4/15/21   95   101,413  
Chaparral Energy, Inc., 7.63%, 11/15/22   305   324,825  
Cimarex Energy Co., 4.38%, 6/01/24 (d)   206   209,605  
Concho Resources, Inc., 5.50%, 4/01/23   1,365   1,460,550  
CONSOL Energy, Inc.:          
  8.25%, 4/01/20   1,890   2,055,375  
  5.88%, 4/15/22 (c)   1,388   1,440,050  
El Paso LLC, 7.80%, 8/01/31   116   125,570  
Energy Transfer Equity LP, 5.88%, 1/15/24 (c)   875   905,625  
Energy XXI Gulf Coast, Inc., 6.88%, 3/15/24 (c)   278   280,085  
EnQuest PLC, 7.00%, 4/15/22 (c)   428   442,980  
EP Energy LLC/Everest Acquisition Finance, Inc., 6.88%, 5/01/19 (e)   630   674,100  
Kinder Morgan Finance Co. LLC, 6.00%, 1/15/18 (c)(e)   1,285   1,408,785  
Kinder Morgan, Inc., 5.63%, 11/15/23 (c)   457   460,854  
Kodiak Oil & Gas Corp., 8.13%, 12/01/19 (e)   875   971,250  
Laredo Petroleum, Inc., 7.38%, 5/01/22   515   570,363  
Lightstream Resources Ltd., 8.63%, 2/01/20 (c)   379   394,160  
Linn Energy LLC/Linn Energy Finance Corp.:          
  8.63%, 4/15/20 (e)   903   978,626  
  7.75%, 2/01/21   215   231,931  
              
Corporate Bonds Par
(000)
  Value  
 
Oil, Gas & Consumable Fuels (concluded)  
Memorial Production Partners LP/Memorial Production Finance Corp., 7.63%, 5/01/21 USD 344 $ 356,040  
Oasis Petroleum, Inc.:          
  7.25%, 2/01/19   380   404,700  
  6.50%, 11/01/21   410   438,700  
PBF Holding Co. LLC/PBF Finance Corp., 8.25%, 2/15/20   202   221,190  
Petrobras Global Finance BV, 3.00%, 1/15/19 (e)   768   751,104  
Range Resources Corp.:          
  6.75%, 8/01/20 (e)   815   882,237  
  5.75%, 6/01/21   161   174,283  
RKI Exploration & Production LLC/RKI Finance Corp., 8.50%, 8/01/21 (c)   143   155,155  
Rosetta Resources, Inc., 5.63%, 5/01/21   379   389,423  
Sabine Pass Liquefaction LLC (e):          
  5.63%, 4/15/23   754   774,735  
  5.75%, 5/15/24 (c)   1,411   1,449,802  
Sabine Pass LNG LP, 7.50%, 11/30/16 (e)   3,110   3,444,325  
SandRidge Energy, Inc.:          
  8.75%, 1/15/20   94   101,520  
  7.50%, 3/15/21   225   239,625  
  7.50%, 2/15/23 (e)   921   980,865  
SM Energy Co., 6.63%, 2/15/19   60   63,675  
Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 7.50%, 7/01/21   636   690,060  
Tesoro Logistics LP/Tesoro Logistics Finance Corp., 5.88%, 10/01/20 (e)   176   183,920  
Ultra Petroleum Corp., 5.75%, 12/15/18 (c)   425   448,375  
Whiting Petroleum Corp., 5.00%, 3/15/19 (e)   1,426   1,502,647  
   
    28,735,411  
 
Paper & Forest Products — 0.2%  
Ainsworth Lumber Co. Ltd., 7.50%, 12/15/17 (c)(e)   728   766,220  
NewPage Corp., 11.38%, 12/31/14 (a)(j)   3,177    
Sappi Papier Holding GmbH, 8.38%, 6/15/19 (c)(e)   305   337,025  
   
    1,103,245  
 
Pharmaceuticals — 1.2%  
Capsugel SA, 7.00% (7.00% Cash or 7.75% PIK), 5/15/19 (c)(f)   156   160,290  
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 20149
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Corporate Bonds Par
(000)
  Value  
 
Pharmaceuticals (concluded)  
Endo Finance LLC/Endo Finco, Inc., 7.25%, 1/15/22 (c) USD 121 $ 131,890  
Forest Laboratories, Inc. (c):          
  4.38%, 2/01/19   585   633,262  
  4.88%, 2/15/21   207   225,889  
  5.00%, 12/15/21   550   602,250  
Grifols Worldwide Operations Ltd., 5.25%, 4/01/22 (c)   759   785,565  
Salix Pharmaceuticals Ltd., 6.00%, 1/15/21 (c)   140   150,150  
Valeant Pharmaceuticals International, Inc. (c):          
  6.75%, 8/15/18 (e)   2,214   2,391,120  
  6.88%, 12/01/18 (e)   1,210   1,273,525  
  6.38%, 10/15/20 (e)   613   655,910  
  7.50%, 7/15/21   335   371,850  
  5.63%, 12/01/21   520   539,500  
   
    7,921,201  
 
Professional Services — 0.1%  
Truven Health Analytics, Inc., 10.63%, 6/01/20 (e)   540   599,400  
 
Real Estate Investment Trusts (REITs) — 0.6%  
Cantor Commercial Real Estate Co. LP/CCRE Finance Corp., 7.75%, 2/15/18 (c)(e)   634   681,550  
Felcor Lodging LP, 6.75%, 6/01/19 (e)   820   873,300  
iStar Financial, Inc., 4.88%, 7/01/18   449   459,102  
Rayonier AM Products, Inc., 5.50%, 6/01/24 (c)   349   353,363  
Ventas Realty LP/Ventas Capital Corp., 4.75%, 6/01/21 (e)   1,300   1,435,698  
   
    3,803,013  
 
Real Estate Management & Development — 0.9%  
Realogy Corp. (c):          
  7.63%, 1/15/20 (e)   1,279   1,422,887  
  9.00%, 1/15/20   301   343,893  
Realogy Group LLC/Realogy Co-Issuer Corp., 4.50%, 4/15/19 (c)   759   760,897  
The Realogy Group LLC/Sunshine Group Florida Ltd., 3.38%, 5/01/16 (c)(e)   558   567,068  
Rialto Holdings LLC/Rialto Corp., 7.00%, 12/01/18 (c)   220   229,900  
RPG Byty Sro, 6.75%, 5/01/20 EUR 220   313,388  
            
Corporate Bonds Par
(000)
  Value  
 
Real Estate Management & Development (concluded)  
Shea Homes LP/Shea Homes Funding Corp., 8.63%, 5/15/19 (e) USD 2,110 $ 2,305,175  
   
    5,943,208  
 
Road & Rail — 1.1%  
Asciano Finance, Ltd., 3.13%, 9/23/15 (c)(e)   3,400   3,462,642  
Florida East Coast Holdings Corp., 6.75%, 5/01/19 (c)   1,170   1,218,262  
The Hertz Corp.:          
  7.50%, 10/15/18   540   570,375  
  6.75%, 4/15/19   405   432,844  
  5.88%, 10/15/20   435   460,013  
  7.38%, 1/15/21 (e)   675   740,812  
Watco Cos. LLC/Watco Finance Corp., 6.38%, 4/01/23 (c)   319   325,380  
   
    7,210,328  
 
Semiconductors & Semiconductor Equipment — 0.2%  
NXP BV/NXP Funding LLC (c)(e):          
  3.75%, 6/01/18   950   954,750  
  5.75%, 2/15/21   560   598,500  
   
    1,553,250  
 
Software — 0.7%  
Infor Software Parent LLC/Infor Software Parent, Inc., 7.13% (7.13% Cash or 7.88% PIK), 5/01/21 (c)(f)   744   758,880  
Infor US, Inc., 9.38%, 4/01/19 (e)   2,000   2,237,500  
Nuance Communications, Inc., 5.38%, 8/15/20 (c)(e)   1,715   1,745,012  
   
    4,741,392  
 
Specialty Retail — 0.5%  
Guitar Center, Inc., 9.63%, 4/15/20 (c)(e)   300   271,500  
Magnolia BC SA, 9.00%, 8/01/20 EUR 274   390,348  
Michaels Stores, Inc., 7.75%, 11/01/18 USD 317   335,228  
New Academy Finance Co. LLC/New Academy Finance Corp., 8.00% (8.00% Cash or 8.75% PIK), 6/15/18 (c)(f)   218   222,905  
New Look Bondco I PLC, 8.75%, 5/14/18 GBP 100   180,610  
Party City Holdings, Inc., 8.88%, 8/01/20 USD 374   415,140  
PC Nextco Holdings LLC/PC Nextco Finance, Inc., 8.75% (8.75% Cash or 9.50% PIK), 8/15/19 (c)(f)   252   259,560  
               

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201410
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Corporate Bonds Par
(000)
  Value  
 
Specialty Retail (concluded)  
QVC, Inc., 7.50%, 10/01/19 (c)(e) USD 410 $ 432,837  
Sally Holdings LLC/Sally Capital, Inc., 5.50%, 11/01/23 (e)   508   520,700  
   
    3,028,828  
 
Textiles, Apparel & Luxury Goods — 0.2%  
Levi Strauss & Co., 6.88%, 5/01/22   380   420,850  
SIWF Merger Sub, Inc., 6.25%, 6/01/21 (c)   645   651,450  
The William Carter Co., 5.25%, 8/15/21 (c)   346   360,705  
   
    1,433,005  
 
Trading Companies & Distributors — 0.2%  
Ashtead Capital, Inc., 6.50%, 7/15/22 (c)(e)   1,054   1,148,860  
 
Transportation Infrastructure — 1.7%  
Aguila 3 SA, 7.88%, 1/31/18 (c)   848   899,406  
Federal Express Corp. 2012 Pass-Through Trust, 2.63%, 1/15/18 (c)(e)   917   933,446  
Penske Truck Leasing Co. LP/PTL Finance Corp. (c)(e):          
  3.13%, 5/11/15   3,372   3,450,776  
  3.38%, 3/15/18   6,155   6,450,711  
   
    11,734,339  
 
Wireless Telecommunication Services — 2.0%  
Digicel Ltd., 6.00%, 4/15/21 (c)(e)   2,073   2,114,460  
The Geo Group, Inc., 5.88%, 1/15/22   340   351,900  
Phones4u Finance PLC, 9.50%, 4/01/18 GBP 207   362,153  
Sprint Communications, Inc. (c)(e):          
  9.00%, 11/15/18 USD 2,020   2,454,300  
  7.00%, 3/01/20   1,361   1,568,552  
Sprint Corp. (c):          
  7.88%, 9/15/23 (e)   2,325   2,627,250  
  7.13%, 6/15/24   405   436,388  
T-Mobile USA, Inc.:          
  6.63%, 4/28/21 (e)   1,380   1,486,950  
  6.13%, 1/15/22   75   79,500  
  6.73%, 4/28/22 (e)   1,455   1,571,400  
  6.50%, 1/15/24   535   568,438  
   
    13,621,291  
 
Total Corporate Bonds — 59.3%   400,580,015  
 
 
 
               

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Aerospace & Defense — 0.8%  
DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/20 USD 1,287 $ 1,288,609  
TASC, Inc., 2nd Lien Term Loan, 12.00%, 5/30/21   1,375   1,355,241  
Transdigm, Inc.:          
  Term Loan C, 3.75%, 2/28/20   652   647,442  
  Term Loan D, 3.75%, 5/31/21   300   298,017  
TransUnion LLC, Term Loan, 4.00%, 3/17/21   1,580   1,574,407  
   
    5,163,716  
 
Air Freight & Logistics — 0.4%  
CEVA Group PLC, Synthetic LC, 6.50%, 3/19/21   678   663,441  
CEVA Intercompany BV, Dutch Term Loan, 6.50%, 3/19/21   715   699,629  
Ceva Logisitics U.S. Holdings, Inc., Term Loan, 6.50%, 3/19/21   986   965,006  
Ceva Logistics Canada ULC, Canadian Term Loan, 6.50%, 3/19/21   123   120,626  
   
    2,448,702  
 
Airlines — 0.2%  
Northwest Airlines, Inc., Term Loan:          
  2.18%, 3/10/17   451   436,665  
  1.56%, 9/10/18   621   588,911  
US Airways Group, Inc., Term Loan B1, 3.50%, 5/23/19   658   656,566  
   
    1,682,142  
 
Auto Components — 1.2%  
Affinia Group Intermediate Holdings, Inc., Term Loan B2, 4.75%, 4/27/20   801   803,287  
Autoparts Holdings Ltd.:          
  1st Lien Term Loan, 6.50%, 7/28/17   963   962,696  
  2nd Lien Term Loan, 10.50%, 1/29/18   1,500   1,425,000  
Dayco Products LLC, Term Loan B, 5.25%, 12/12/19   858   859,995  
The Goodyear Tire & Rubber Co., 2nd Lien Term Loan, 4.75%, 4/30/19   2,985   2,995,448  
Transtar Holding Co., 1st Lien Term Loan, 5.75%, 10/09/18   1,248   1,243,748  
   
    8,290,174  
           

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201411
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Automobiles — 0.1%  
Chrysler Group LLC:          
  2018 Term Loan B, 3.25%, 12/31/18 USD 345 $ 342,844  
  Term Loan B, 3.50%, 5/24/17   650   650,000  
   
    992,844  
 
Beverages — 0.0%  
Le-Nature's, Inc., Tranche B Term Loan, 3/01/2011 (a)(j)   1,000    
 
Building Products — 0.9%  
Continental Building Products LLC, 1st Lien Term Loan, 4.25%, 8/28/20   910   909,860  
CPG International, Inc., Term Loan, 4.75%, 9/30/20   1,643   1,642,591  
GYP Holdings III Corp., 1st Lien Term Loan, 4.75%, 4/01/21   945   935,550  
Interline Brands, Inc., 2021 Term Loan, 4.00%, 3/17/21   285   283,219  
Momentive Performance Materials, Inc., DIP Term Loan B, 4.00%, 4/30/15   375   375,311  
Ply Gem Industries, Inc., Term Loan, 4.00%, 2/01/21   125   123,594  
United Subcontractors, Inc., Term Loan, 4.24%, 6/30/15   172   162,963  
Wilsonart LLC:          
  Incremental Term Loan B2, 4.00%, 10/31/19   768   759,918  
  Term Loan B, 4.00%, 10/31/19   810   801,151  
   
    5,994,157  
 
Capital Markets — 0.3%  
Affinion Group, Inc.:          
  2nd Lien Term Loan, 8.50%, 10/12/18   633   634,746  
  Term Loan B, 6.75%, 4/30/18   525   526,259  
American Capital Holdings, Inc., 2017 Term Loan, 3.50%, 8/22/17   581   580,674  
   
    1,741,679  
 
Chemicals — 1.9%  
Allnex (Luxembourg) & Cy SCA, Term Loan B1, 4.50%, 10/03/19   320   320,458  
Allnex USA, Inc., Term Loan B2, 4.50%, 10/03/19   166   166,270  
Axalta Coating Systems US Holdings, Inc., Term Loan, 4.00%, 2/01/20   2,094   2,092,039  
            
Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Chemicals (concluded)  
CeramTec Acquisition Corp., Term Loan B2, 4.25%, 8/28/20 USD 45 $ 45,403  
Chromaflo Technologies Corp.:          
  1st Lien Term Loan, 4.50%, 12/02/19   658   657,527  
  2nd Lien Term Loan, 8.25%, 5/30/20   560   562,800  
Evergreen Acqco 1 LP, Term Loan, 5.00%, 7/09/19   771   772,896  
INEOS US Finance LLC, 6 Year Term Loan, 3.75%, 5/04/18   663   658,844  
MacDermid, Inc., 1st Lien Term Loan, 4.00%, 6/07/20   665   664,310  
Minerals Technology, Inc., Term Loan B, 4.00%, 5/09/21   1,825   1,829,563  
Nexeo Solutions LLC, Term Loan B, 5.00%, 9/08/17   1,261   1,257,318  
OXEA Finance LLC:          
  2nd Lien Term Loan, 8.25%, 7/15/20   705   711,465  
  Term Loan B2, 4.25%, 1/15/20   677   676,600  
Royal Adhesives and Sealants LLC, 1st Lien Term Loan, 5.50%, 7/31/18   778   781,400  
Tata Chemicals North America, Inc., Term Loan B, 3.75%, 8/07/20   660   656,712  
Tronox Pigments (Netherlands) BV, Term Loan, 4.00%, 3/19/20   934   934,272  
   
    12,787,877  
 
Commercial Banks — 0.1%  
Redtop Acquisitions Ltd.:          
  1st Lien Term Loan, 4.50%, 12/03/20   419   420,521  
  2nd Lien Term Loan, 8.25%, 6/03/21   354   362,965  
   
    783,486  
 
Commercial Services & Supplies — 2.2%  
ADS Waste Holdings, Inc., Term Loan, 3.75%, 10/09/19   1,471   1,461,964  
AWAS Finance Luxembourg 2012 SA, Term Loan, 3.50%, 7/16/18   1,219   1,218,723  
Brand Energy & Infrastructure Services, Inc., Term Loan B, 4.75%, 11/26/20   1,570   1,573,605  
Catalent Pharma Solutions, Inc.:          
  Term Loan, 6.50%, 12/29/17   370   372,775  
  Term Loan B, 4.50%, 9/15/21   1,250   1,254,688  

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201412
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Commercial Services & Supplies (concluded)  
Connolly LLC:          
  1st Lien Term Loan, 5.00%, 1/29/21 USD 1,175 $ 1,184,553  
  2nd Lien Term Loan, 8.00%, 4/23/22   1,000   1,008,750  
Koosharem LLC, Exit Term Loan, 8.75%, 4/29/20   1,875   1,889,062  
Livingston International, Inc.:          
  1st Lien Term Loan, 5.00%, 4/16/19   774   774,150  
  2nd Lien Term Loan, 9.00%, 4/20/20   352   354,060  
Protection One, Inc., Term Loan, 4.25%, 3/21/19   570   569,559  
Spin Holdco, Inc., Term Loan B, 4.25%, 11/14/19   1,782   1,779,276  
US Ecology, Inc., Term Loan, 3.75%, 5/15/21   375   376,875  
West Corp., Term Loan B10, 3.25%, 6/30/18   982   970,737  
           
    14,788,777  
 
Communications Equipment — 1.5%  
Alcatel-Lucent USA, Inc., Term Loan C, 4.50%, 1/30/19   4,246   4,252,113  
Applied Systems, Inc.:          
  1st Lien Term Loan, 4.25%, 1/25/21   329   329,794  
  2nd Lien Term Loan, 7.50%, 1/23/22   265   269,372  
Avaya, Inc., Extended Term Loan B3, 4.73%, 10/26/17   763   737,188  
CommScope, Inc., Term Loan B3, 2.65% - 2.73%, 1/21/17   435   436,131  
Telesat Canada, Term Loan A, 4.37%, 3/24/17 CAD 1,697   1,557,584  
Zayo Group LLC, Term Loan B, 4.00%, 7/02/19 USD 2,759   2,753,208  
           
    10,335,390  
 
Construction & Engineering — 0.4%  
Centaur Acquisition LLC:          
  1st Lien Term Loan, 5.25%, 2/20/19   1,230   1,230,359  
  2nd Lien Term Loan, 8.75%, 2/15/20   710   717,100  
USIC Holdings, Inc., 1st Lien Term Loan, 4.00%, 7/10/20   471   466,134  
           
    2,413,593  

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Construction Materials — 0.5%  
Filtration Group Corp.:          
  1st Lien Term Loan, 4.50%, 11/21/20 USD 504 $ 506,674  
  2nd Lien Term Loan, 8.25%, 11/21/21   605   615,587  
HD Supply, Inc., Term Loan B, 4.00%, 6/28/18   1,873   1,871,828  
McJunkin Red Man Corp., Term Loan, 5.00%, 11/08/19   378   379,677  
   
    3,373,766  
 
Containers & Packaging — 0.3%  
Ardagh Holdings USA, Inc.:          
  Incremental Term Loan, 4.00%, 12/17/19   385   384,357  
  Term Loan B, 4.25%, 12/17/19   489   489,235  
Berry Plastics Holding Corp., Term Loan E, 3.75%, 1/06/21   998   993,244  
   
    1,866,836  
 
Distributors — 0.4%  
ABC Supply Co., Inc., Term Loan, 3.50%, 4/16/20   2,094   2,085,867  
American Tire Distributors Holdings, Inc., Term Loan B, 5.75%, 6/01/18   200   200,500  
VWR Funding, Inc., Term Loan, 3.40%, 4/03/17   454   454,233  
   
    2,740,600  
 
Diversified Consumer Services — 0.6%  
Allied Security Holdings LLC, 1st Lien Term Loan, 4.25%, 2/12/21   517   514,952  
Garda World Security Corp.:          
  Delayed Draw Term Loan, 4.00%, 11/06/20   76   75,801  
  Term Loan B, 4.00%, 11/06/20   298   296,313  
ROC Finance LLC, Term Loan, 5.00%, 6/20/19   627   615,880  
ServiceMaster Co., Term Loan, 4.25%, 1/31/17   1,035   1,035,075  
Weight Watchers International, Inc., Term Loan B2, 4.00%, 4/02/20   1,661   1,311,419  
   
    3,849,440  
 
Diversified Financial Services — 0.8%  
AssuredPartners Capital, Inc.:          
  1st Lien Term Loan, 4.50%, 3/31/21   625   624,738  
                 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201413
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Diversified Financial Services (concluded)  
AssuredPartners Capital, Inc. (concluded):          
  2nd Lien Term Loan, 7.75%, 4/04/22 USD 425 $ 424,469  
Reynolds Group Holdings, Inc., Dollar Term Loan, 4.00%, 12/01/18   1,513   1,513,709  
RPI Finance Trust, Term Loan B3, 3.25%, 11/09/18   448   448,442  
SAM Finance Luxembourg Sarl, Term Loan, 4.25%, 12/17/20   1,122   1,126,396  
WMG Acquisition Corp., Term Loan, 3.75%, 7/01/20   1,246   1,224,228  
   
    5,361,982  
 
Diversified Telecommunication Services — 1.6%  
Consolidated Communications, Inc., Term Loan B, 4.25%, 12/23/20   2,232   2,241,802  
Hawaiian Telcom Communications, Inc., Term Loan B, 5.00%, 6/06/19   1,729   1,734,384  
Integra Telecom, Inc.:          
  2nd Lien Term Loan, 9.75%, 2/22/20   1,270   1,292,682  
  Term Loan B, 5.25%, 2/22/19   1,163   1,166,786  
Level 3 Financing, Inc., 2019 Term Loan B, 4.00%, 1/15/20   3,365   3,370,048  
US Telepacific Corp., Term Loan B, 5.75%, 2/23/17   990   991,925  
   
    10,797,627  
 
Electric Utilities — 0.3%  
American Energy - Utica LLC, Incremental Term Loan, 11.00%, 9/30/18   965   1,018,075  
Sandy Creek Energy Associates LP, Term Loan B, 5.00%, 11/06/20   853   856,649  
   
    1,874,724  
 
Electrical Equipment — 1.0%  
Texas Competitive Electric Holdings Co. LLC:          
  DIP Term Loan, 3.75%, 5/05/16   426   427,051  
  Extended Term Loan, 4.74%, 10/10/17   7,640   6,110,930  
   
    6,537,981  
 
Electronic Equipment, Instruments & Components — 0.1%  
CDW LLC, Term Loan, 3.25%, 4/29/20   842   829,931  
 
         
Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Energy Equipment & Services — 0.3%  
Dynegy Holdings, Inc., Term Loan B2, 4.00%, 4/23/20 USD 1,102 $ 1,102,656  
MEG Energy Corp., Refinancing Term Loan, 3.75%, 3/31/20   645   646,484  
   
    1,749,140  
 
Food & Staples Retailing — 0.2%  
Rite Aid Corp., 2nd Lien Term Loan, 5.75%, 8/21/20   240   244,749  
Supervalu, Inc., Refinancing Term Loan B, 4.50%, 3/21/19   903   902,353  
   
    1,147,102  
 
Food Products — 1.5%  
AdvancePierre Foods, Inc., Term Loan, 5.75%, 7/10/17   705   703,601  
CTI Foods Holding Co. LLC, 1st Lien Term Loan, 4.50%, 6/29/20   652   650,910  
Del Monte Foods, Inc., 1st Lien Term Loan, 4.25%, 2/18/21   643   641,914  
Diamond Foods, Inc., Term Loan, 4.25%, 8/20/18   1,506   1,504,342  
Dole Food Co., Inc., Term Loan B, 4.50% - 5.75%, 11/01/18   1,062   1,062,104  
Hearthside Food Solutions LLC, Term Loan, 4.50%, 4/07/21   675   677,248  
Performance Food Group Co., 2nd Lien Term Loan, 6.25%, 11/14/19   1,042   1,052,546  
Pinnacle Foods Finance LLC, Term Loan G, 3.25%, 4/29/20   1,188   1,181,003  
Reddy Ice Corp.:          
  1st Lien Term Loan, 6.75% - 7.75%, 5/01/19   1,475   1,445,598  
  2nd Lien Term Loan, 10.75%, 11/01/19   1,380   1,269,600  
   
    10,188,866  
 
Health Care Equipment & Supplies — 2.3%  
Arysta LifeScience Corp.:          
  1st Lien Term Loan, 4.50%, 5/29/20   1,474   1,475,085  
  2nd Lien Term Loan, 8.25%, 11/30/20   530   535,300  
Biomet, Inc., Term Loan B2, 3.65% - 3.73%, 7/25/17   1,236   1,236,947  
Capsugel Holdings US, Inc., Term Loan B, 3.50%, 8/01/18   548   545,814  
DJO Finance LLC, 2017 Term Loan, 4.25%, 9/15/17   1,701   1,703,818  
                 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201414
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Health Care Equipment & Supplies (concluded)  
Fresenius SE & Co. KGaA, Incremental Term Loan B, 2.57%, 6/30/19 EUR 608 $ 826,332  
The Hologic, Inc., Term Loan B, 3.25%, 8/01/19 USD 1,313   1,309,221  
Immucor, Inc., Refinancing Term Loan B2, 5.00%, 8/17/18   635   634,096  
LHP Hospital Group, Inc., Term Loan, 9.00%, 7/03/18   503   482,736  
Millennium Laboratories, Inc., Term Loan B, 5.25%, 4/16/21   1,825   1,835,275  
National Vision, Inc.:          
  1st Lien Term Loan, 4.00%, 3/12/21   1,255   1,236,943  
  2nd Lien Term Loan, 6.75%, 3/07/22   340   338,725  
Onex Carestream Finance LP:          
  1st Lien Term Loan, 5.00%, 6/07/19   621   622,086  
  2nd Lien Term Loan, 9.50%, 12/07/19   720   732,352  
Ortho-Clinical Diagnostics, Inc., Term Loan B, 4.75%, 5/07/21   2,175   2,183,439  
   
    15,698,169  
 
Health Care Providers & Services — 2.0%  
American Renal Holdings, Inc., 1st Lien Term Loan, 4.50%, 9/20/19   846   845,392  
Ardent Medical Services, Inc., Term Loan, 6.75%, 7/02/18   474   474,593  
CHS/Community Health Systems, Inc., Term Loan D, 4.25%, 1/27/21   3,995   4,016,201  
ConvaTec, Inc., Term Loan, 4.00%, 12/22/16   1,169   1,170,239  
DaVita, Inc., Term Loan B, 4.50%, 10/20/16   1,935   1,934,981  
Envision Acquisition Co. LLC, 1st Lien Term Loan, 5.75%, 11/04/20   900   902,726  
Genesis HealthCare Corp., Term Loan B, 10.00% - 10.75%, 9/25/17   1,027   1,045,216  
Ikaria, Inc.:          
  1st Lien Term Loan, 5.00%, 2/12/21   540   541,690  
  2nd Lien Term Loan, 8.75%, 2/14/22   270   273,599  
inVentiv Health, Inc.:          
  Combined Term Loan, 7.50%, 8/04/16   300   301,092  
              
Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Health Care Providers & Services (concluded)  
inVentiv Health, Inc. (concluded):          
  Incremental Term Loan B3, 7.75%, 5/15/18 USD 232 $ 231,646  
MPH Acquisition Holdings LLC, Term Loan, 4.00%, 3/31/21   785   779,894  
National Mentor Holdings, Inc., Term Loan B, 4.75%, 1/31/21   580   582,175  
Surgical Care Affiliates, Inc., Class C Incremental Term Loan, 4.00%, 6/29/18   596   592,522  
   
    13,691,966  
 
Health Care Technology — 0.1%  
IMS Health, Inc., Term Loan, 3.50%, 3/17/21   630   625,703  
 
Hotels, Restaurants & Leisure — 5.3%  
Bally Technologies, Inc., Term Loan B, 4.25%, 11/25/20   506   507,082  
Belmond Interfin Ltd., Term Loan B, 4.00%, 3/21/21   630   631,184  
Bronco Midstream Funding LLC, Term Loan B, 5.00%, 8/17/20   1,257   1,256,855  
Caesars Entertainment Operating Co., Inc., Term Loan B7, 9.75%, 3/01/17   3,305   3,269,009  
Caesars Entertainment Resort Properties LLC, Term Loan B, 7.00%, 10/12/20   3,912   3,893,448  
Caesars Growth Properties Holdings LLC, Term Loan B, 6.25%, 5/08/21   2,350   2,335,618  
Diamond Resorts Corp., Term Loan, 5.50%, 4/23/21   1,825   1,836,406  
Four Seasons Holdings, Inc., 2nd Lien Term Loan, 6.25%, 12/28/20   585   592,313  
Hilton Worldwide Finance LLC, Term Loan B2, 3.50%, 10/26/20   1,919   1,911,283  
Intrawest ULC, Term Loan, 5.50%, 11/26/20   613   623,431  
La Quinta Intermediate Holdings LLC, Term Loan B, 4.00%, 4/14/21   5,085   5,086,271  
Las Vegas Sands LLC, Term Loan B, 3.25%, 12/19/20   648   647,130  
Marina District Finance Co., Inc., Term Loan B, 6.75%, 8/15/18   921   933,313  
MGM Resorts International, Term Loan B, 3.50%, 12/20/19   1,072   1,068,656  
Pinnacle Entertainment, Inc., Term Loan B2, 3.75%, 8/13/20   791   790,356  
                 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201415
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Hotels, Restaurants & Leisure (concluded)  
Playa Resorts Holding BV, Term Loan B, 4.00%, 8/06/19 USD 721 $ 722,277  
Sabre, Inc.:          
  Incremental Term Loan, 4.50%, 2/19/19   398   398,748  
  Term Loan B, 4.25%, 2/19/19   563   562,875  
Station Casinos LLC, Term Loan B, 4.25%, 3/02/20   3,150   3,153,621  
Travelport LLC:          
  2nd Lien PIK Term Loan 2, 4.00%, 12/01/16 (f)   1,055   1,063,603  
  2nd Lien Term Loan 1, 9.50%, 1/29/16   1,178   1,211,449  
  Refinancing Term Loan, 6.25%, 6/26/19   1,573   1,606,211  
Twin River Management Group, Inc., Term Loan B, 5.25%, 11/09/18   1,416   1,409,513  
   
    35,510,652  
 
Household Products — 0.3%  
Bass Pro Group LLC, Term Loan, 3.75%, 11/20/19   1,153   1,149,869  
Prestige Brands, Inc., Term Loan, 3.75%, 1/31/19   436   434,155  
Spectrum Brands, Inc., Term Loan C, 3.50%, 9/04/19   549   547,600  
   
    2,131,624  
 
Independent Power Producers & Energy Traders — 0.4%  
Calpine Corp., Term Loan B1, 4.00%, 4/01/18   1,051   1,052,678  
La Frontera Generation LLC, Term Loan, 4.50%, 9/30/20   1,623   1,623,980  
   
    2,676,658  
 
Industrial Conglomerates — 0.3%  
Sequa Corp., Term Loan B, 5.25%, 6/19/17   2,355   2,327,820  
 
Insurance — 1.1%  
Alliant Holdings I, Inc., Term Loan B, 4.25%, 12/20/19   1,049   1,050,693  
Asurion LLC:          
  2nd Lien Term Loan, 8.50%, 3/03/21   445   456,681  
  Term Loan B1, 5.00%, 5/24/19   1,500   1,504,977  
CNO Financial Group, Inc., Term Loan B2, 3.75%, 9/20/18   1,312   1,310,897  
Cooper Gay Swett & Crawford Ltd.:          
  1st Lien Term Loan, 5.00%, 4/16/20   1,052   1,015,228  
              
Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Insurance (concluded)  
Cooper Gay Swett & Crawford Ltd. (concluded):          
  2nd Lien Term Loan, 8.25%, 10/16/20 USD 500 $ 482,500  
Sedgwick, Inc.:          
  1st Lien Term Loan, 3.75%, 3/01/21   1,105   1,086,127  
  2nd Lien Term Loan, 6.75%, 2/28/22   665   661,915  
   
    7,569,018  
 
Internet Software & Services — 0.9%  
Dealertrack Technologies, Inc., Term Loan B, 3.50%, 2/28/21   1,225   1,222,942  
Go Daddy Operating Co. LLC, Term Loan B, 4.75%, 5/13/21   1,250   1,254,462  
Interactive Data Corp., Term Loan B, 4.75%, 4/30/21   1,450   1,459,976  
W3 Co.:          
  1st Lien Term Loan, 5.75%, 3/13/20   1,030   1,014,156  
  2nd Lien Term Loan, 9.25%, 9/11/20   404   403,988  
Web.com Group, Inc., Term Loan B, 4.50%, 10/27/17   475   476,595  
   
    5,832,119  
 
IT Services — 1.7%  
Ceridian Corp., Term Loan B, 4.40%, 5/09/17   1,080   1,080,645  
First Data Corp.:          
  2018 Term Loan, 4.15%, 9/24/18   1,615   1,616,502  
  Extended 2018 Term Loan B, 4.15%, 3/24/18   7,044   7,042,935  
InfoGroup, Inc., Term Loan, 7.50%, 5/25/18   754   667,893  
Sungard Availability Services Capital, Inc., Term Loan B, 6.00%, 3/25/19   800   795,000  
SunGard Data Systems, Inc., Term Loan E, 4.00%, 3/08/20   379   379,750  
   
    11,582,725  
 
Leisure Equipment & Products — 0.1%  
Bauer Performance Sports Ltd., Term Loan B, 4.50%, 4/15/21   575   575,000  
 
Machinery — 1.4%  
Alliance Laundry Systems LLC, Refinancing Term Loan, 4.50%, 12/10/18   1,063   1,062,072  
                 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201416
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Machinery (concluded)
Faenza Acquisition GmbH:          
  Term Loan B1, 4.25%, 8/31/20 USD 458 $ 458,129  
  Term Loan B3, 4.25%, 8/28/20   139   138,874  
Gardner Denver, Inc., Term Loan:          
  4.25%, 7/30/20   1,341   1,339,859  
  4.75%, 7/30/20 EUR 222   303,919  
Intelligrated, Inc., 1st Lien Term Loan, 4.50%, 7/30/18 USD 1,084   1,080,128  
Mirror Bidco Corp., Term Loan, 4.25%, 12/28/19   1,427   1,423,406  
Navistar International Corp., Term Loan B, 5.75%, 8/17/17   525   533,816  
Rexnord LLC, 1st Lien Term Loan B, 4.00%, 8/21/20   1,320   1,316,050  
Silver II US Holdings LLC, Term Loan, 4.00%, 12/13/19   576   575,193  
Terex Corp., Term Loan, 4.00%, 4/28/17 EUR 175   237,068  
Wabash National Corp., Term Loan B, 4.50%, 5/08/19 USD 996   993,068  
   
    9,461,582  
 
Media — 5.1%  
Activision Blizzard, Inc., Term Loan B, 3.25%, 10/12/20   1,170   1,169,421  
Advanstar Communications, Inc., 2nd Lien Term Loan, 9.50%, 6/06/20   465   471,975  
Cengage Learning Acquisitions, Inc.:          
  1st Lien Term Loan, 7.00%, 3/31/20   2,440   2,470,500  
  4.75%, 7/03/14 (j)   2,005    
Charter Communications Operating LLC, Term Loan E, 3.00%, 7/01/20   1,176   1,159,000  
Clear Channel Communications, Inc.:          
  Term Loan B, 3.80%, 1/29/16   316   313,109  
  Term Loan C, 3.80%, 1/29/16   190   186,730  
  Term Loan D, 6.90%, 1/30/19   4,063   4,012,725  
Cumulus Media Holdings, Inc., 2013 Term Loan, 4.25%, 12/23/20   1,358   1,360,987  
Getty Images, Inc., Term Loan B, 4.75%, 10/18/19   208   200,934  
Hemisphere Media Group, Inc., Term Loan, 6.25%, 7/30/20   888   890,508  
Hubbard Radio LLC, Term Loan B, 4.50%, 4/29/19   684   684,498  
            
Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Media (concluded)  
IMG Worldwide, Inc.:          
  1st Lien Term Loan, 5.25%, 5/06/21 USD 995 $ 999,229  
  2nd Lien Term Loan, 8.25%, 5/01/22   1,065   1,076,321  
Intelsat Jackson Holdings SA, Term Loan B2, 3.75%, 6/30/19   2,514   2,515,832  
Lions Gate Entertainment Corp., 2nd Lien Term Loan, 5.00%, 7/17/20   395   400,431  
Live Nation Entertainment, Inc., Term Loan B1, 3.50%, 8/17/20   562   559,831  
Media General, Inc., Delayed Draw Term Loan B, 4.25%, 7/31/20   696   698,372  
Mediacom Communications Corp., Term Loan F, 2.63%, 1/31/18   780   771,872  
NEP/NCP Holdco, Inc.:          
  2nd Lien Term Loan, 9.50%, 7/22/20   340   349,350  
  Incremental Term Loan, 4.25%, 1/22/20   1,663   1,660,289  
Numericable U.S. LLC:          
  Term Loan B1, 4.50%, 5/21/20   1,106   1,107,620  
  Term Loan B2, 4.50%, 5/21/20   957   958,242  
Salem Communications Corp., Term Loan B, 4.50%, 3/13/20   997   995,804  
Tribune Co., 2013 Term Loan, 4.00%, 12/27/20   1,172   1,171,336  
Univision Communications, Inc., Term Loan C4, 4.00%, 3/01/20   2,430   2,422,697  
UPC Financing Partnership, Term Loan AG, 4.02%, 3/31/21 EUR 442   605,809  
Virgin Media Investment Holdings Ltd.:          
  Term Loan B, 3.50%, 6/05/20 USD 410   406,585  
  Term Loan E, 4.25%, 6/05/23 GBP 2,340   3,916,774  
WideOpenWest Finance LLC, Term Loan B, 4.75%, 4/01/19 USD 732   735,525  
   
    34,272,306  
 
Metals & Mining — 1.2%  
Ameriforge Group, Inc.:          
  1st Lien Term Loan, 5.00%, 12/19/19   938   939,333  
  2nd Lien Term Loan, 8.75%, 12/19/20   470   474,700  
FMG Resources August 2006 Property Ltd., Term Loan B, 3.75%, 6/30/19   1,394   1,391,746  
Novelis, Inc., Term Loan, 3.75%, 3/10/17   3,841   3,839,644  
                 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201417
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Metals & Mining (concluded)  
Windsor Financing LLC, Term Loan B, 6.25%, 12/05/17 USD 1,515 $ 1,547,390  
   
    8,192,813  
 
Multiline Retail — 1.3%  
99 ¢ Only Stores, Term Loan, 4.50%, 1/11/19   783   786,254  
Apex Tool Group LLC, Term Loan B, 4.50%, 1/31/20   148   143,992  
BJ's Wholesale Club, Inc.:          
  1st Lien Term Loan, 4.50%, 9/26/19   588   587,342  
  2nd Lien Term Loan, 8.50%, 3/26/20   575   591,531  
HEMA Holding BV:          
  Extended 2nd Lien Term Loan, 6.01%, 1/05/18 EUR 2,600   3,266,574  
  Extended Term Loan B, 4.63%, 12/06/17   323   432,816  
  Extended Term Loan C, 4.63%, 12/06/17   295   396,372  
Hudson's Bay Co., 1st Lien Term Loan, 4.75%, 11/04/20 USD 948   956,184  
The Neiman Marcus Group, Inc., Term Loan, 4.25%, 10/26/20   1,647   1,641,795  
   
    8,802,860  
 
Oil, Gas & Consumable Fuels — 1.6%  
Arch Coal, Inc., Term Loan B, 6.25%, 5/16/18   1,502   1,477,664  
Drillships Financing Holding, Inc., Term Loan B1, 6.00%, 3/31/21   488   488,617  
EP Energy LLC, Term Loan B3, 3.50%, 5/24/18   1,127   1,124,560  
Fieldwood Energy LLC:          
  1st Lien Term Loan, 3.88%, 9/28/18   468   467,361  
  2nd Lien Term Loan, 8.38%, 9/30/20   420   431,924  
Moxie Patriot LLC, Term Loan B1, 6.75%, 12/18/20   1,645   1,677,900  
Obsidian Natural Gas Trust, Term Loan, 7.00%, 11/02/15   1,081   1,091,781  
Offshore Group Investment Ltd., Term Loan B:          
  5.00%, 10/25/17   301   299,344  
  5.75%, 3/28/19   535   531,135  
Panda Temple II Power LLC, Term Loan B, 7.25%, 4/03/19   900   918,000  
Power Buyer LLC:          
  1st Lien Term Loan, 4.25%, 5/06/20   269   265,695  
              
Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Oil, Gas & Consumable Fuels (concluded)  
Power Buyer LLC (concluded):          
  2nd Lien Term Loan, 8.25%, 11/06/20 USD 275 $ 272,594  
  Delayed Draw Term Loan, 4.25%, 5/06/20   14   14,221  
Raven Power Finance LLC, Term Loan, 5.25%, 12/19/20   476   482,850  
Western Refining, Inc., Term Loan B, 4.25%, 11/12/20   1,017   1,019,149  
WTG Holdings III Corp.:          
  1st Lien Term Loan, 4.75%, 1/15/21   299   299,250  
  2nd Lien Term Loan, 8.50%, 1/15/22   160   160,400  
   
    11,022,445  
 
Pharmaceuticals — 1.6%  
Akorn, Inc., Term Loan B, 4.50%, 4/16/21   885   886,106  
Amneal Pharmaceuticals LLC, Term Loan, 5.75% - 7.00%, 11/01/19   607   609,226  
Endo Luxembourg Finance Co. I Sarl, Term Loan B, 3.25%, 2/28/21   855   847,878  
Grifols Worldwide Operations USA, Inc., Term Loan B, 3.15%, 2/27/21   2,105   2,094,644  
JLL/Delta Dutch Newco BV, 2021 Term Loan, 4.25%, 3/11/21   920   909,484  
Mallinckrodt International Finance SA, Term Loan B, 3.50%, 3/19/21   795   790,031  
Par Pharmaceutical Cos, Inc., Term Loan B2, 4.00%, 9/30/19   1,649   1,641,573  
Pharmaceutical Product Development LLC, Term Loan B, 4.00%, 12/05/18   1,395   1,395,895  
Valeant Pharmaceuticals International, Inc.:          
  Series C2, Term Loan B, 3.75%, 12/11/19   552   549,647  
  Series E, Term Loan B, 3.75%, 8/05/20   832   830,339  
   
    10,554,823  
 
Professional Services — 0.6%  
Emdeon Business Services LLC, Term Loan B2, 3.75%, 11/02/18   610   610,018  
Intertrust Group Holding BV, 2nd Lien Term Loan, 8.00%, 2/28/22   850   850,000  
                 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201418
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Professional Services (concluded)  
SIRVA Worldwide, Inc., Term Loan, 7.50%, 3/27/19 USD 1,059 $ 1,077,838  
TriNet Group, Inc., Term Loan B2, 5.00%, 8/14/20   602   605,364  
Truven Health Analytics, Inc., Term Loan B, 4.50%, 6/06/19   1,169   1,156,601  
   
    4,299,821  
 
Real Estate Investment Trusts (REITs) — 0.4%  
IStar Financial, Inc., Term Loan, 4.50%, 10/16/17   2,690   2,693,922  
Starwood Property Trust, Inc., Term Loan B, 3.50%, 4/17/20   345   342,628  
   
    3,036,550  
 
Real Estate Management & Development — 0.5%  
CityCenter Holdings LLC, Term Loan B, 5.00%, 10/16/20   1,032   1,039,082  
Realogy Corp.:          
  Extended Letter of Credit, 4.40%, 10/10/16   101   101,152  
  Term Loan B, 3.75%, 3/05/20   2,106   2,106,241  
   
    3,246,475  
 
Road & Rail — 0.2%  
Road Infrastructure Investment LLC:          
  1st Lien Term Loan, 4.25%, 3/31/21   1,015   1,009,925  
  2nd Lien Term Loan, 7.75%, 9/21/21   675   670,498  
   
    1,680,423  
 
Semiconductors & Semiconductor Equipment — 0.7%  
Avago Technologies Cayman Ltd., Term Loan B, 3.75%, 5/06/21   3,500   3,508,750  
Freescale Semiconductor, Inc.:          
  Term Loan B4, 4.25%, 2/28/20   721   721,942  
  Term Loan B5, 5.00%, 1/15/21   378   379,594  
   
    4,610,286  
 
Software — 1.6%  
BMC Software Finance, Inc., Term Loan, 5.00%, 9/10/20   843   844,641  
Evertec Group LLC, Term Loan B, 3.50%, 4/17/20   462   452,859  
GCA Services Group, Inc.:          
  2nd Lien Term Loan, 9.25%, 10/22/20   560   562,800  
  Term Loan B, 4.25% - 5.50%, 11/01/19   552   551,381  
              
Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Software (concluded)  
Infor US, Inc., Term Loan B5, 3.75%, 6/03/20 USD 1,135 $ 1,126,077  
IQOR US, Inc., Term Loan B, 6.00%, 4/01/21   610   580,263  
Kronos Worldwide, Inc., 2014 Term Loan, 4.75%, 2/18/20   235   237,204  
Kronos, Inc., 2nd Lien Term Loan, 9.75%, 4/30/20   1,837   1,900,815  
Mitchell International, Inc.:          
  1st Lien Term Loan, 4.50%, 10/12/20   633   635,262  
  2nd Lien Term Loan, 8.50%, 10/11/21   1,200   1,224,000  
RP Crown Parent LLC, 2013 Term Loan, 6.00%, 12/21/18   911   908,686  
Shield Finance Co. Sarl, Term Loan, 5.00%, 1/27/21   340   341,275  
Sophia LP, Term Loan B, 4.00%, 7/19/18   852   852,527  
Websense, Inc., 2nd Lien Term Loan, 8.25%, 12/24/20   835   838,390  
   
    11,056,180  
 
Specialty Retail — 1.0%  
Academy Ltd., Term Loan, 4.50%, 8/03/18   1,720   1,723,037  
Burlington Coat Factory Warehouse Corp., Term Loan B2, 4.25%, 2/23/17   191   191,716  
Harbor Freight Tools USA, Inc., 1st Lien Term Loan, 4.75%, 7/26/19   522   524,555  
Michaels Stores, Inc., Term Loan, 3.75%, 1/28/20   470   469,408  
Party City Holdings, Inc., Term Loan, 4.00%, 7/27/19   2,443   2,426,939  
Petco Animal Supplies, Inc., Term Loan, 4.00%, 11/24/17   895   897,047  
Toys 'R' Us-Delaware, Inc., Term Loan B3, 5.25%, 5/25/18   242   187,332  
   
    6,420,034  
 
Textiles, Apparel & Luxury Goods — 0.4%  
Ascend Performance Materials LLC, Term Loan B, 6.75%, 4/10/18   1,250   1,237,005  
J. Crew Group, Inc., Term Loan B, 4.00% - 5.25%, 3/05/21   640   635,840  
Nine West Holdings, Inc.:          
  Guarantee Term Loan, 6.25%, 3/05/19   555   556,388  
                 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201419
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b) Par
(000)
  Value  
 
Textiles, Apparel & Luxury Goods (concluded)  
Nine West Holdings, Inc. (concluded):          
  Term Loan B, 4.75%, 10/08/19 USD 440 $ 441,377  
   
    2,870,610  
 
Thrifts & Mortgage Finance — 0.1%  
IG Investment Holdings LLC, 1st Lien Term Loan, 5.25%, 10/31/19   859   860,199  
 
Wireless Telecommunication Services — 0.2%  
LTS Buyer LLC, 1st Lien Term Loan, 4.00%, 4/13/20   1,538   1,531,452  
 
Total Floating Rate Loan Interests — 50.0%   337,880,845  
 
 
 
Foreign Agency Obligations — 0.5%  
 
Iceland Government International Bond, 5.88%, 5/11/22   3,030   3,318,650  
 
 
 
Non-Agency Mortgage-Backed Securities  
 
Collateralized Mortgage Obligations — 2.6%  
Adjustable Rate Mortgage Trust, Series 2007-1, Class 3A21, 3.19%, 3/25/37 (b)   19   18,628  
Countrywide Alternative Loan Trust, Series 2005-54CB, Class 3A4, 5.50%, 11/25/35   5,373   4,672,872  
Countrywide Home Loan Mortgage Pass-Through Trust:          
  Series 2005-17, Class 1A6, 5.50%, 9/25/35   1,368   1,345,068  
  Series 2006-17, Class A2, 6.00%, 12/25/36   3,011   2,730,692  
  Series 2007-HY5, Class 3A1, 5.15%, 9/25/37 (b)   1,995   1,865,954  
GSR Mortgage Loan Trust, Series 2005-AR5, Class 2A3, 2.73%, 10/25/35 (b)   1,904   1,767,176  
Hilton USA Trust, Series 2013-HLT, Class EFX, 4.60%, 11/05/30 (b)(c)   4,162   4,309,335  
Morgan Stanley Reremic Trust, Series 2010-R4, Class 4A, REMIC, 0.45%, 2/26/37 (b)(c)   783   778,221  
   
    17,487,946  
 
         
Non-Agency Mortgage-Backed Securities Par
(000)
  Value  
 
Commercial Mortgage-Backed Securities — 7.5%  
Banc of America Commercial Mortgage Trust, Series 2007-4, Class A4, 5.95%, 2/10/51 (b) USD 1,702 $ 1,902,386  
Commercial Mortgage Pass-Through Certificates, Series 2013-LC13, Class D, 5.05%, 8/10/46 (b)(c)   3,530   3,467,713  
Commercial Mortgage Trust, Series 2013-LC6:          
  Class B, 3.74%, 1/10/46   1,110   1,116,390  
  Class D, 4.29%, 1/10/46 (b)(c)   1,330   1,240,059  
Credit Suisse Commercial Mortgage Trust, Series 2006-C5, Class AM, 5.34%, 12/15/39   1,850   2,013,967  
Credit Suisse Mortgage Capital Certificates (b):          
  Series 2007-C2, Class A2, 5.45%, 1/15/49   5   4,989  
  Series 2007-C4, Class A3, 5.86%, 9/15/39   505   507,420  
  Series 2007-C5, Class AAB, 5.62%, 9/15/40   1,315   1,399,150  
  Series 2014-SURF, Class E, 3.26%, 2/15/29 (c)   1,000   1,002,099  
Greenwich Capital Commercial Funding Corp., Series 2006-GG7, Class AM, 5.82%, 7/10/38 (b)   1,610   1,749,564  
GS Mortgage Securities Corp. II, Series 2013-GC10, Class B, 3.68%, 2/10/46 (c)   1,995   2,008,317  
GS Mortgage Securities Trust, Series 2006-GG6, Class AM, 5.60%, 4/10/38 (b)   3,680   3,937,107  
JPMBB Commercial Mortgage Securities Trust, Series 2013-C15, Class D, 5.08%, 11/15/45 (b)(c)   1,400   1,369,610  
JPMorgan Chase Commercial Mortgage Securities Corp.:          
  Series 2004-LN2, Class A2, 5.12%, 7/15/41   908   908,210  
  Series 2007-CB18, Class A4, 5.44%, 6/12/47   2,110   2,310,562  
  Series 2007-CB19, Class A4, 5.70%, 2/12/49 (b)   2,140   2,370,078  
  Series 2012-LC9, Class XA, 1.94%, 12/15/47 (b)   14,845   1,516,686  
LB-UBS Commercial Mortgage Trust (b):          
  Series 2007-C2, Class AM, 5.49%, 2/15/40   2,500   2,681,165  
                 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201420
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Non-Agency Mortgage-Backed Securities Par
(000)
  Value  
 
Commercial Mortgage-Backed Securities (concluded)  
LB-UBS Commercial Mortgage Trust (b) (concluded):          
  Series 2007-C6, Class A4, 5.86%, 7/15/40 USD 4,567 $ 4,896,435  
Merrill Lynch Mortgage Trust, Series 2007-C1, Class A1A, 5.83%, 6/12/50 (b)   1,548   1,669,294  
Talisman Finance PLC, Series 6, Class A, 0.51%, 10/22/16 (b) EUR 1,766   2,346,478  
Titan Europe PLC, Series 2007-1X, Class A, 0.78%, 1/20/17 (b) GBP 2,548   4,068,416  
Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class A4, 5.94%, 2/15/51 (b) USD 2,030   2,229,823  
WF-RBS Commercial Mortgage Trust:          
  Series 2012-C8, Class B, 4.31%, 8/15/45   1,085   1,143,321  
  Series 2012-C8, Class C, 4.88%, 8/15/45 (b)   1,395   1,491,480  
  Series 2014-C20, Class XA, 1.42%, 5/15/47 (b)   15,000   1,213,530  
Windermere XI Cmbs PLC, Series XI-X, Class A, 0.77%, 4/24/17 (b) GBP 49   82,544  
   
    50,646,793  
 
Interest Only Commercial Mortgage-Backed Securities — 0.3%  
WF-RBS Commercial Mortgage Trust, Series 2012-C9, Class XA, 2.24%, 11/15/45 (b)(c) USD 16,630   2,016,167  
 
Total Non-Agency Mortgage-Backed Securities — 10.4%   70,150,906  
 
 
 
U.S. Government Sponsored Agency Securities  
 
Collateralized Mortgage Obligations — 1.0%  
Freddie Mac Mortgage-Backed Securities:          
  Series 3986, Class M, REMIC, 4.50%, 9/15/41   2,531   2,735,595  
  Series K032, Class A2, 3.31%, 5/25/23 (b)   3,500   3,630,333  
   
    6,365,928  
 
Interest Only Collateralized Mortgage Obligations — 0.9%  
Fannie Mae Mortgage-Backed Securities, Series 2012-M9, Class X1, 4.23%, 12/25/17 (b)   19,783   2,322,744  
            
U.S. Government Sponsored Agency Securities Par
(000)
  Value  
 
Interest Only Collateralized Mortgage Obligations (concluded)  
Freddie Mac Mortgage-Backed Securities, Class X1 (b):          
  Series K707, 1.55%, 12/25/18 USD 42,772 $ 2,635,231  
  Series K710, 1.78%, 5/25/19   13,303   1,000,406  
   
    5,958,381  
 
Mortgage-Backed Securities — 3.7%  
Fannie Mae Mortgage-Backed Securities:          
  3.50%, 8/01/26   8,016   8,497,869  
  5.00%, 7/01/20 - 8/01/23   6,120   6,545,421  
Freddie Mac Mortgage-Backed Securities, 4.50%, 4/01/25   9,400   10,178,542  
   
    25,221,832  
 
Total U.S. Government Sponsored Agency Securities — 5.6%   37,546,141  
 
 
 
Other Interests (k) Beneficial
Interest
(000)
     
 
Auto Components — 0.0%  
Lear Corp. Escrow   1,000   8,750  
 
Construction Materials — 0.0%  
USI Senior Holdings   6    
 
Diversified Financial Services — 0.1%  
J.G. Wentworth LLC Preferred Equity Interests (a)(l):          
   (Acquired 11/18/13, cost $969,588)   14   151,447  
   (Acquired 11/18/13, cost $969,588)   14   151,447  
   
    302,894  
 
Household Durables — 0.0%  
Berkline Benchcraft Equity LLC   3    
 
Total Other Interests — 0.1%   311,644  
 
 
 
Preferred Securities  
 
Capital Trusts Par
(000)
     
 
   
Capital Markets — 0.3%  
The Goldman Sachs Group, Inc., Series L, 5.70% (b)(e)(m)   1,920   2,016,000  
 
                 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201421
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)

 

Capital Trusts Par
(000)
  Value  
 
Commercial Banks — 0.5%  
Wachovia Capital Trust III, 5.57% (b)(e)(m) USD 3,365 $ 3,280,875  
 
Diversified Financial Services — 1.7%  
Bank of America Corp., Series U, 5.20% (b)(e)(m)   1,250   1,209,376  
Barclays PLC, 8.00% (b)(m)   600   885,254  
Citigroup, Inc., 5.95% (b)(e)(m)   1,370   1,380,275  
JPMorgan Chase & Co., Series U, 6.13% (b)(e)(m)   6,690   6,740,175  
Morgan Stanley, Series H, 5.45% (b)(e)(m)   1,426   1,475,910  
   
    11,690,990  
 
Insurance — 3.4%  
The Allstate Corp., 6.13%, 5/15/67 (b)(e)   3,000   3,202,500  
AXA SA, 6.46% (b)(c)(e)(m)   1,625   1,748,500  
Genworth Holdings, Inc., 6.15%, 11/15/66 (b)(e)   1,850   1,743,625  
ING US, Inc., 5.65%, 5/15/53 (b)   3,500   3,548,125  
Liberty Mutual Group, Inc. (c):          
  7.00%, 3/07/67 (b)(e)   1,575   1,669,500  
  7.80%, 3/07/87   1,500   1,770,000  
Hartford Financial Services Group, Inc., 8.13%, 6/15/68 (b)(e)   2,500   2,959,375  
Prudential Financial, Inc., 5.63%, 6/15/43 (b)(e)   3,250   3,420,625  
Swiss Re Capital I LP, 6.85% (b)(c)(e)(m)   3,000   3,210,000  
   
    23,272,250  
 
Total Capital Trusts — 5.9%   40,260,115  
 
 
 

Preferred Stocks


Shares
     
 
Capital Markets — 0.1%  
SCE Trust III, 5.75% (b)   21,200   570,916  
 
Diversified Financial Services — 0.0%  
Ally Financial, Inc., Series A, 8.50% (b)   8,657   239,453  
 
Total Preferred Stocks — 0.1%   810,369  
 
 
 
Trust Preferreds — 0.5%  
 
Diversified Financial Services — 0.5%  
GMAC Capital Trust I, Series 2, 8.13%, 2/15/40 (b)   124,413   3,362,147  
 

 

 

    Value  
 
Total Preferred Securities — 6.5% $ 44,432,631  
 
 
 

 

Warrants (n) — 0.0%

Shares      
 
Software — 0.0%  
HMH Holdings/EduMedia (Issued/exercisable 3/09/10, 19 Shares for 1 Warrant, Expires 6/22/19, Strike Price $42.27)   3,100   12,798  
 
Total Long-Term Investments
(Cost — $915,058,971) — 138.6%
  936,338,539  
 
 
 

 

Short-Term Securities

       
 
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.03% (o)(p)   1,821,902   1,821,902  
 
Total Short-Term Securities
(Cost — $1,821,902) — 0.3%
  1,821,902  
 
 
 
Options Purchased  
 
(Cost — $246,671) — 0.0%   128,350  
 
Total Investments Before Options Written
(Cost — $917,127,544*) — 138.9%
  938,288,791  
 
 
Options Written  
 
(Premiums Received — $187,000) — (0.0)% $ (227,134 )
 
Total Investments, Net of Options Written — 138.9%   938,061,657  
Liabilities in Excess of Other Assets — (38.9)%   (262,492,680 )
   
Net Assets — 100.0% $ 675,568,977  
 
 
* As of May 31, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 
Tax cost $ 919,018,204  
Gross unrealized appreciation $ 36,671,232  
Gross unrealized depreciation   (17,400,645 )
Net unrealized appreciation $ 19,270,587  
                 
 

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201422
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)

 

Notes to Consolidated Schedule of Investments

(a) Non-income producing security.
(b) Variable rate security. Rate shown is as of report date.
(c) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(d) When-issued security. Unsettled when-issued transactions were as follows:
     

 

 
  Counterparty   Value   Unrealized
Appreciation
 
 
  Barclays Capital, Inc.   $ 314,006 $ 3,006  
  Citigroup Global Markets, Inc.   $ 2,037,849    
  Credit Suisse Securities (USA) LLC   $ 1,041,751 $ 19,387  
  Deutsche Bank Securities, Inc.   $ 661,550 $ 8,188  
  Morgan Stanley & Co. LLC   $ 1,435,825 $ 15,825  
  Wells Fargo Securities, LLC   $ 209,605 $ 3,605  
 
                                     

 

(e) All or a portion of security has been pledged as collateral in connection with outstanding reverse repurchase agreements.
(f) Represents a payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.
(g) Convertible security.
(h) Zero-coupon bond.
(i) Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date.
(j) Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.
(k) Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.
(l) Restricted security as to resale. As of report date, the Trust held 0.1% of its net assets, with a current value of $298,347 in this security.
(m) Security is perpetual in nature and has no stated maturity date.
(n) Warrants entitle the Trust to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date, if any.
(o) Investments in issuers considered to be an affiliate of the Trust during the period ended May 31, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
     

 

 
  Affiliate   Shares
Held at
August 31, 2013
  Net
Activity
  Shares
Held at
May 31, 2014
  Income  
 
  BlackRock Liquidity Funds, TempFund, Institutional Class   1,184,093   637,809   1,821,902   $2,216  
 
                                           

 

(p) Represents the current yield as of report date.

 

Portfolio Abbreviations

   
ABS Asset-Backed Security
CAD Canadian Dollar
CLO Collateralized Loan Obligation
DIP Debtor-In-Possession
EUR Euro
GBP British Pound
LIBOR London Interbank Offered Rate
OTC Over-the-Counter
PIK Payment-In-Kind
REMIC Real Estate Mortgage Investment Conduit
     
BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201423
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)

 

SGD Singapore Dollar
USD U.S. Dollar
     

 

Reverse repurchase agreements outstanding as of May 31, 2014 were as follows:  

 

Counterparty Interest
Rate
Trade
Date
Maturity
Date1
  Face Value   Face Value
Including
Accrued
Interest
 
 
Credit Suisse Securities (USA) LLC 0.40% 3/07/13 Open $ 1,503,125 $ 1,510,657  
Credit Suisse Securities (USA) LLC 0.35% 3/22/13 Open   1,496,075   1,502,431  
Credit Suisse Securities (USA) LLC 0.35% 4/03/13 Open   243,800   244,805  
Credit Suisse Securities (USA) LLC 0.35% 4/03/13 Open   5,701,069   5,724,570  
Credit Suisse Securities (USA) LLC 0.35% 4/03/13 Open   1,233,600   1,238,685  
Credit Suisse Securities (USA) LLC 0.35% 4/03/13 Open   1,277,250   1,282,515  
Credit Suisse Securities (USA) LLC 0.35% 4/03/13 Open   2,861,250   2,873,045  
Credit Suisse Securities (USA) LLC 0.35% 4/03/13 Open   3,119,100   3,131,958  
Credit Suisse Securities (USA) LLC 0.35% 4/03/13 Open   2,958,750   2,970,947  
Credit Suisse Securities (USA) LLC 0.35% 4/03/13 Open   3,213,750   3,226,998  
Credit Suisse Securities (USA) LLC 0.35% 4/03/13 Open   3,695,000   3,710,232  
Credit Suisse Securities (USA) LLC 0.40% 5/30/13 Open   720,960   723,908  
Barclays Capital, Inc. 0.44% 6/21/13 Open   1,109,299   1,113,990  
Barclays Capital, Inc. 0.60% 6/24/13 Open   1,731,221   1,741,118  
Barclays Capital, Inc. 0.60% 6/24/13 Open   488,876   491,671  
BNP Paribas Securities Corp. 0.34% 9/18/13 Open   13,065,000   13,096,712  
Barclays Capital, Inc. 0.60% 9/27/13 Open   1,189,125   1,194,040  
Barclays Capital, Inc. 0.60% 10/15/13 Open   893,525   896,950  
Barclays Capital, Inc. 0.60% 10/15/13 Open   919,755   923,281  
Barclays Capital, Inc. 0.60% 10/16/13 Open   803,937   807,006  
Barclays Capital, Inc. 0.60% 10/17/13 Open   728,012   730,779  
Barclays Capital, Inc. 0.60% 10/17/13 Open   682,594   685,188  
Barclays Capital, Inc. 0.60% 10/17/13 Open   875,600   878,927  
Barclays Capital, Inc. 0.60% 10/17/13 Open   1,215,287   1,219,906  
Barclays Capital, Inc. 0.60% 10/21/13 Open   676,000   678,512  
Barclays Capital, Inc. 0.60% 10/22/13 Open   845,434   848,576  
Barclays Capital, Inc. 0.60% 10/22/13 Open   1,023,231   1,027,034  
Barclays Capital, Inc. 0.60% 10/22/13 Open   788,400   791,330  
Barclays Capital, Inc. 0.60% 11/15/13 Open   2,067,975   2,074,834  
Barclays Capital, Inc. 0.60% 11/15/13 Open   1,356,787   1,361,288  
Barclays Capital, Inc. 0.60% 11/15/13 Open   1,291,249   1,295,531  
Barclays Capital, Inc. 0.60% 11/15/13 Open   1,283,400   1,287,657  
Barclays Capital, Inc. 0.55% 11/18/13 Open   1,313,488   1,317,421  
Deutsche Bank Securities, Inc. 0.60% 11/27/13 Open   1,227,000   1,230,783  
Deutsche Bank Securities, Inc. 0.60% 11/27/13 Open   1,538,000   1,542,742  
Deutsche Bank Securities, Inc. 0.60% 11/27/13 Open   2,602,000   2,610,023  
Deutsche Bank Securities, Inc. 0.60% 11/27/13 Open   834,000   836,571  
Deutsche Bank Securities, Inc. 0.60% 12/12/13 Open   723,000   725,073  
Deutsche Bank Securities, Inc. 0.60% 12/12/13 Open   564,000   565,617  
Deutsche Bank Securities, Inc. 0.60% 12/12/13 Open   549,000   550,574  
Deutsche Bank Securities, Inc. 0.60% 12/12/13 Open   727,000   729,084  
Deutsche Bank Securities, Inc. 0.60% 12/12/13 Open   1,323,000   1,326,793  
Deutsche Bank Securities, Inc. 0.59% 12/16/13 Open   412,000   413,134  
Deutsche Bank Securities, Inc. 0.58% 12/18/13 Open   996,000   998,648  
Deutsche Bank Securities, Inc. 0.60% 12/18/13 Open   1,030,000   1,032,832  
Deutsche Bank Securities, Inc. 0.60% 12/18/13 Open   865,000   867,379  
Deutsche Bank Securities, Inc. 0.60% 12/18/13 Open   1,222,000   1,225,360  
Deutsche Bank Securities, Inc. 0.50% 12/27/13 Open   1,416,000   1,419,029  

 

BLACKROCK LIMITED DURATION INCOME TRUSTMAY 31, 201424
 
Consolidated Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)

 

Reverse repurchase agreements outstanding as of May 31, 2014 were as follows (continued):  

 

Counterparty Interest
Rate
Trade
Date
Maturity
Date1
  Face Value   Face Value
Including
Accrued
Interest
 
 
Deutsche Bank Securities, Inc. 0.55% 12/27/13 Open $ 973,000 $ 975,289  
Deutsche Bank Securities, Inc. 0.55% 12/27/13 Open   296,000   296,696  
Deutsche Bank Securities, Inc. 0.58% 12/27/13 Open   300,000   300,744  
Deutsche Bank Securities, Inc. 0.58% 12/27/13 Open   1,450,000   1,453,598  
Deutsche Bank Securities, Inc. 0.58% 12/27/13 Open   593,000   594,471  
Deutsche Bank Securities, Inc. 0.58% 12/27/13 Open   945,000   947,345  
Deutsche Bank Securities, Inc. 0.58% 12/27/13 Open   357,000   357,886  
Deutsche Bank Securities, Inc. 0.58% 12/27/13 Open   1,228,000   1,231,047  
Deutsche Bank Securities, Inc. 0.60% 12/27/13 Open   1,898,000   1,902,872  
Deutsche Bank Securities, Inc. 0.60% 12/27/13 Open   820,000   822,105  
Deutsche Bank Securities, Inc. 0.58% 2/03/14 Open   2,254,981   2,259,304  
HSBC Securities (USA), Inc. 0.55% 2/26/14 Open   2,515,741   2,519,430  
Barclays Capital, Inc. 0.35% 2/28/14 Open   3,109,000   3,111,841  
Barclays Capital, Inc. 0.35% 2/28/14 Open   3,202,000   3,204,926  
Barclays Capital, Inc. 0.35% 2/28/14 Open   1,929,000   1,930,763  
Barclays Capital, Inc. 0.60% 2/28/14 Open   935,000   936,465  
Deutsche Bank Securities, Inc. 0.55% 2/28/14 Open   1,894,000   1,896,720  
Deutsche Bank Securities, Inc. 0.55% 2/28/14 Open   474,000   474,681  
Deutsche Bank Securities, Inc. 0.55% 2/28/14 Open   2,862,000   2,866,110  
Deutsche Bank Securities, Inc. 0.55% 2/28/14 Open   1,073,000   1,074,541  
Deutsche Bank Securities, Inc. 0.55% 3/10/14 Open   349,000   349,448  
HSBC Securities (USA), Inc. 0.38% 3/10/14 Open   6,339,571   6,345,193  
Barclays Capital, Inc. 0.60% 3/11/14 Open   629,879   630,751  
Deutsche Bank Securities, Inc. 0.60% 3/20/14 Open   686,000   686,846  
Deutsche Bank Securities, Inc. (0.25%) 4/16/14 Open   700,000   699,776  
Deutsche Bank Securities, Inc. 0.55% 4/16/14 Open   500,000   500,351  
Deutsche Bank Securities, Inc. 0.55% 4/16/14 Open   1,500,000