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: 08/31/2015

 

Date of reporting period: 11/30/2014

 

Item 1 – Schedule of Investments

 
 
Schedule of Investments November 30, 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 $ 77,399  
 
Chemicals — 0.0%  
LyondellBasell Industries NV, Class A   37   2,918  
 
Construction & Engineering — 0.0%  
USI United Subcontractors   6,454   167,803  
 
Diversified Consumer Services — 0.5%  
Cengage Thomson Learning (a)   38,155   995,846  
Houghton Mifflin Harcourt Co. (a)   128,441   2,468,636  
   
    3,464,482  
 
Diversified Financial Services — 0.3%  
Kcad Holdings I Ltd. (a)   384,412,912   1,537,652  
 
Household Durables — 0.0%  
Berkline Benchcraft Equity LLC (a)   3,155    
 
Total Common Stocks0.8%   5,250,254  
 
 
   
Asset-Backed Securities — 13.40% Par
(000)
     
 
ACAS CLO Ltd., Series 2014-1A, Class C, 3.13%, 7/18/26 (b)(c) USD 1,500   1,429,769  
Adirondack Park CLO Ltd., Series 2013-1A, Class D, 3.88%, 4/15/24 (b)(c)   1,750   1,664,616  
Aircraft Lease Securitisation Ltd., Series 2007-1A, Class G3, 0.42%, 5/10/32 (b)(c)   504   494,318  
ALM Loan Funding, Series 2013-7RA (b)(c):          
  Class C, 3.68%, 4/24/24   1,210   1,138,596  
  Class D, 5.23%, 4/24/24   1,040   955,478  
ALM XIV Ltd., Series 2014-14A, Class C, 3.68%, 7/28/26 (b)(c)   3,140   2,918,685  
AmeriCredit Automobile, Receivables 2014-3, AMCAR 2014-3 C, 2.58%, 9/08/20   4,850   4,890,022  
AMMC CLO 15, Ltd., Series 2014-15A, Class D, 4.44%, 12/09/26 (b)(c)(d)   2,000   1,910,000  
Apidos CLO XVII, Series 2014-17A, Class B, 3.08%, 4/17/26 (b)(c)   3,000   2,895,182  
Ares CLO, Ltd., ARES 2014 32A B 144A, 3.48%, 11/15/25 (b)(c)(d)   1,250   1,233,750  
Atrium CDO Corp., Series 9A, Class D, 3.74%, 2/28/24 (b)(c)   1,100   1,040,783  
Babson CLO Ltd., Series 2014-3A, Class C1, 3.23%, 1/15/26 (b)(c)   2,000   1,949,000  
                   
Asset-Backed Securities Par
(000)
  Value  
Battalion CLO IV Ltd., Series 2013-4A, Class C, 3.58%, 10/22/25 (b)(c) USD  500 $ 463,184  
Benefit Street Partners CLO II Ltd., Series 2013-IIA, Class C, 3.73%, 7/15/24 (b)(c)   750   695,514  
Benefit Street Partners CLO V Ltd., Series 2014-VA, Class C, 3.10%, 10/20/26 (b)(c)   2,500   2,410,345  
Carlyle Global Market Strategies CLO 2014-5, Ltd., Series 2014-5A, Class C, 4.38%, 10/16/25 (b)(c)(d)   2,000   1,929,540  
Carlyle Global Market Strategies CLO Ltd., Series 2013-1A, Class C, 4.23%, 2/14/25 (b)(c)   250   242,965  
CarMax Auto Owner Trust, Series 2012-3, Class D, 2.29%, 4/15/19   2,530   2,572,808  
Cent CLO, Series 2014-21A, Class C, 3.73%, 7/27/26 (b)(c)   1,000   928,040  
Central Park CLO Ltd., Series 2011-1A, Class D, 3.43%, 7/23/22 (b)(c)   500   493,326  
CIFC Funding 2014-IV, Ltd., Series 2014-4A, Class C1, 3.18%, 10/17/26 (b)(c)   2,850   2,726,924  
CIFC Funding Ltd., Series 2014-3A, Class D, 3.55%, 7/22/26 (b)(c)   420   387,812  
Countrywide Asset-Backed Certificates, Series 2007-7, Class 2A2, 0.32%, 10/25/47 (c)   878   869,258  
Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B, 2.50%, 1/25/30 (b)   2,423   2,348,117  
Flagship CLO, Series 2014-8A, Class C, 3.33%, 1/16/26 (b)(c)   2,000   1,940,000  
Fraser Sullivan CLO VII Ltd., Series 2012-7A, Class C, 4.23%, 4/20/23 (b)(c)   1,090   1,067,099  
Gramercy Park CLO, Ltd., Series 2012-1AR, Class CR, 4.28%, 7/17/23 (b)(c)   5,000   4,922,897  
GSAA Trust, Series 2007-3, Class 1A2, 0.33%, 3/25/47 (c)   2,695   1,403,076  
Halcyon Loan Advisors Funding Ltd., Series 2013-1A, Class C, 3.73%, 4/15/25 (b)(c)   1,000   936,802  
Jamestown CLO IV Ltd., Series 2014-4A, Class C, 3.73%, 7/15/26 (b)(c)   1,165   1,071,752  
Madison Park Funding Ltd., Series 2012-10A, Class D, 4.48%, 1/20/25 (b)(c)   700   694,420  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 20141
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Asset-Backed Securities Par
(000)
  Value  
Madison Park Funding XI Ltd., Series 2013-11A, Class D, 3.73%, 10/23/25 (b)(c) USD  420 $ 396,879  
Neuberger Berman CLO XVIII, Ltd., Series 2014-18A, Class B, 3.38%, 11/14/25 (b)(c)(d)   2,250   2,184,345  
Octagon Investment Partners XVI Ltd., Series 2013-1A, Class D, 3.58%, 7/17/25 (b)(c)   2,000   1,859,603  
OZLM Funding Ltd., Series 2012-2A, Class C, 4.58%, 10/30/23 (b)(c)   500   488,177  
OZLM IX, Ltd., Series 2014-9A, Class C, 3.83%, 1/20/27 (b)(c)(d)   1,500   1,402,800  
OZLM VII Ltd., Series 2014-7A, Class C, 3.86%, 7/17/26 (b)(c)   780   729,099  
OZLM VIII, Ltd., Series 2014-8A, Class B, 3.28%, 10/17/26 (b)(c)   2,500   2,409,502  
Regatta Funding LP, Series 2013-2A, Class C, 4.23%, 1/15/25 (b)(c)   500   480,615  
Regatta V Funding Ltd., Series 2014-1A, Class B, 3.23%, 10/25/26 (b)(c)   2,000   1,928,841  
Santander Drive Auto Receivables Trust, Series 2014-4, Class C, 2.60%, 11/16/20   4,500   4,544,154  
Santander Drive Auto Receivables Trust 2014-3, Series 2014-3, Class D, 2.65%, 8/17/20   4,015   3,975,749  
Santander Drive Auto Receivables Trust 2014-4, Series 2014-4, Class D, 3.10%, 11/16/20   4,500   4,546,831  
Sound Point CLO, Ltd., Series 2014-3A, Class D, 3.89%, 1/23/27 (b)(c)(d)   2,000   1,805,000  
Symphony CLO XV Ltd., Series 2014-15A, Class C, 3.40%, 10/17/26 (b)(c)   4,000   3,940,450  
Voya CLO, Ltd., Series 2014-4A (b):          
  Class C, 4.23%, 10/14/26 (c)   2,500   2,411,750  
  Class SUB, 0.00%, 10/14/26   1,000   925,000  
World Financial Network Credit Card Master Trust, Series 2012-C, Class B, 3.57%, 8/15/22   3,000   3,129,333  
   
    87,782,206  
 
Interest Only Asset-Backed Securities — 0.1%  
Sterling Bank Trust, Series 2004-2, Class Note, 2.08%, 3/30/30 (b)   6,860   473,744  
Sterling Coofs Trust, Series 2004-1, Class A, 2.36%, 4/15/29 (b)   5,605   378,322  
   
    852,066  
 
                   
Asset-Backed Securities

Par

(000)

  Value  
Total Asset-Backed Securities13.5% $ 88,634,272  
 
 
   
Corporate Bonds        
 
Aerospace — 0.0%  
Telefonica SA, Series TIT, 6.00%, 7/24/17 (g) EUR 200   260,950  
 
Aerospace & Defense — 0.7%  
DigitalGlobe, Inc., 5.25%, 2/01/21 (b)(e) USD  928   890,880  
Huntington Ingalls Industries, Inc.:          
  7.13%, 3/15/21   570   619,162  
  5.00%, 12/15/21 (b)(d)   250   254,063  
Meccanica Holdings USA, Inc., 6.25%, 7/15/19 (b)   339   366,968  
TransDigm, Inc.:          
  6.00%, 7/15/22 (e)   1,795   1,812,950  
  6.50%, 7/15/24   835   851,700  
   
    4,795,723  
 
Airlines — 2.7%  
Air Canada Pass-Through Trust, Series 2013-1, Class C, 6.63%, 5/15/18 (b)   651   672,743  
American Airlines Pass-Through Trust, Series 2013-2 (e):          
  Class A, 4.95%, 7/15/24   3,647   3,901,808  
  Class B, 5.60%, 1/15/22 (b)   708   722,575  
  Class C, 6.00%, 1/15/17 (b)   2,600   2,678,000  
Continental Airlines Pass-Through Trust, Series 2012-3, Class C, 6.13%, 4/29/18 (e)   2,090   2,220,625  
Delta Air Lines Pass-Through Trust, Series 2009-1, Class B, 9.75%, 6/17/18   217   244,798  
United Airlines Pass-Through Trust, Series 2014-2, Class B, 4.63%, 3/03/24   2,300   2,248,250  
US Airways Pass-Through Trust, Series 2012-1, Class C, 9.13%, 10/01/15 (e)   1,402   1,455,022  
Virgin Australia Trust, Series 2013-1 (b):          
  Class A, 5.00%, 4/23/25   716   741,071  
  Class B, 6.00%, 4/23/22 (e)   1,477   1,517,604  
  Class C, 7.13%, 10/23/18 (e)   1,059   1,090,757  
   
    17,493,253  
 
Auto Components — 1.4%  
Affinia Group, Inc., 7.75%, 5/01/21 (e)   1,095   1,125,113  
Autodis SA, 6.50%, 2/01/19 EUR 100   125,837  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 20142
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Corporate Bonds Par
(000)
  Value  
Auto Components (concluded)  
Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.88%, 3/15/19 (e) USD 2,058 $ 2,083,725  
Jaguar Land Rover Automotive PLC, 8.25%, 3/15/20 GBP 554   954,738  
Pittsburgh Glass Works LLC, 8.00%, 11/15/18 (b) USD 186   197,160  
Schaeffler Holding Finance BV:          
  2.75%, 5/15/19 EUR 405   508,014  
  5.75%, 11/15/21 (f)   115   150,683  
  (6.25% Cash or 0.00% PIK), 6.25%, 11/15/19 (b)(f) USD 804   841,185  
  (6.75% Cash or 0.00% PIK), 6.75%, 11/15/22 (b)(f)   943   994,865  
  (6.88% Cash or 7.63% PIK), 6.88%, 8/15/18 (b)(e)(f)   1,085   1,135,181  
  (6.88% Cash), 6.88%, 8/15/18 (f) EUR 375   490,774  
Titan International, Inc., 6.88%, 10/01/20 USD 555   510,600  
   
    9,117,875  
 
Automobiles — 0.7%  
Chrysler Group LLC/CG Co-Issuer, Inc., 8.00%, 6/15/19 (e)   1,087   1,152,220  
General Motors Co. (e):          
  3.50%, 10/02/18   2,478   2,539,950  
  5.20%, 4/01/45   550   565,345  
   
    4,257,515  
 
Banks — 0.8%  
Banco Espirito Santo SA:          
  4.75%, 1/15/18 EUR 100   118,749  
  4.00%, 1/21/19   100   115,983  
CIT Group, Inc. (e):          
  5.00%, 5/15/17 USD 890   927,825  
  5.50%, 2/15/19 (b)   1,370   1,452,200  
HSBC Holdings PLC, 6.25%, 3/19/18 EUR 1,000   1,441,049  
Nordea Bank AB, 4.50%, 3/26/20   1,020   1,457,385  
   
    5,513,191  
 
Beverages — 0.1%  
Constellation Brands, Inc.:          
  7.25%, 5/15/17 USD 82   91,635  
  3.88%, 11/15/19   294   299,468  
   
    391,103  
 
Building Products — 1.1%  
American Builders & Contractors Supply Co., Inc., 5.63%, 4/15/21 (b)   190   191,900  
                   
Corporate Bonds Par
(000)
  Value  
Building Products (concluded)  
BMBG Bond Finance SCA, 5.08%, 10/15/20 (c) EUR 200 $ 249,187  
Builders FirstSource, Inc., 7.63%, 6/01/21 (b)(e) USD 650   672,750  
Building Materials Corp. of America (b)(e):          
  6.75%, 5/01/21   770   828,712  
  5.38%, 11/15/24   1,005   1,005,000  
Cemex Finance LLC, 6.00%, 4/01/24 (b)   295   295,369  
Cemex SAB de CV, 5.70%, 1/11/25 (b)   670   646,550  
CPG Merger Sub LLC, 8.00%, 10/01/21 (b)(e)   1,030   1,084,075  
Ply Gem Industries, Inc., 6.50%, 2/01/22   745   720,788  
USG Corp., 9.75%, 1/15/18 (e)   1,390   1,598,500  
   
    7,292,831  
 
Capital Markets — 1.2%  
American Capital Ltd., 6.50%, 9/15/18 (b)(e)   975   1,028,625  
Blackstone CQP Holdco LP, 9.30%, 3/18/19   1,051   1,061,788  
E*Trade Financial Corp.:          
  3.58%, 8/31/19 (b)(g)(h)   249   549,200  
  5.38%, 11/15/22   627   633,270  
The Goldman Sachs Group, Inc., 3.30%, 5/03/15 (e)   3,285   3,322,354  
SteelRiver Transmission Co. LLC, 4.71%, 6/30/17 (b)(e)   1,035   1,083,215  
   
    7,678,452  
 
Chemicals — 1.0%  
Ashland, Inc., 3.88%, 4/15/18 (e)   675   680,906  
Axalta Coating Systems US Holdings, Inc./Axalta Coating Systems Dutch Holding BV:          
  5.75%, 2/01/21 EUR 200   262,368  
  7.38%, 5/01/21 (b) USD 398   429,840  
Chemtura Corp., 5.75%, 7/15/21   200   198,000  
Huntsman International LLC:          
  8.63%, 3/15/21   655   710,675  
  5.13%, 4/15/21 EUR 331   431,976  
INEOS Group Holdings SA:          
  6.13%, 8/15/18 (b) USD 314   308,929  
  6.50%, 8/15/18 EUR 122   153,976  
LSB Industries, Inc., 7.75%, 8/01/19 USD 167   177,020  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 20143
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Corporate Bonds Par
(000)
  Value  
Chemicals (concluded)  
Rockwood Specialties Group, Inc., 4.63%, 10/15/20 (e) USD 3,123 $ 3,263,535  
   
    6,617,225  
 
Commercial Services & Supplies — 1.3%  
Abengoa Greenfield SA, 6.50%, 10/01/19 (b)   766   674,080  
ADS Waste Holdings, Inc., 8.25%, 10/01/20   292   306,600  
ARAMARK Corp., 5.75%, 3/15/20 (e)   712   735,140  
Aviation Capital Group Corp., 4.63%, 1/31/18 (b)(e)   1,000   1,040,724  
Brand Energy & Infrastructure Services, Inc., 8.50%, 12/01/21 (b)   203   203,000  
Covanta Holding Corp., 6.38%, 10/01/22   100   106,250  
Mobile Mini, Inc., 7.88%, 12/01/20 (e)   915   979,050  
Modular Space Corp., 10.25%, 1/31/19 (b)(e)   1,253   1,259,265  
United Rentals North America, Inc. (e):          
  5.75%, 7/15/18   494   516,230  
  7.63%, 4/15/22   1,518   1,677,390  
  5.75%, 11/15/24   1,039   1,077,963  
   
    8,575,692  
 
Communications Equipment — 2.2%  
ADC Telecommunications, Inc., 3.50%, 7/15/15 (g)   6,670   6,720,025  
Alcatel-Lucent USA, Inc. (b)(e):          
  4.63%, 7/01/17   800   806,000  
  6.75%, 11/15/20   2,150   2,230,625  
Avaya, Inc., 7.00%, 4/01/19 (b)   437   427,167  
CommScope, Inc. (b):          
  5.00%, 6/15/21   215   215,000  
  5.50%, 6/15/24   221   219,895  
Zayo Group LLC/Zayo Capital, Inc. (e):          
  8.13%, 1/01/20   1,800   1,921,500  
  10.13%, 7/01/20   1,460   1,642,500  
   
    14,182,712  
 
Construction & Engineering — 0.5%  
AECOM Technology Corp. (b):          
  5.75%, 10/15/22   215   225,212  
  5.88%, 10/15/24   981   1,037,407  
BlueLine Rental Finance Corp., 7.00%, 2/01/19 (b)   165   171,188  
Novafives SAS:          
  4.08%, 6/30/20 (c) EUR 100   123,972  
                   
Corporate Bonds Par
(000)
  Value  
Construction & Engineering (concluded)  
Novafives SAS (concluded):          
  4.50%, 6/30/21 EUR 100 $ 123,506  
Safway Group Holding LLC/Safway Finance Corp., 7.00%, 5/15/18 (b)(e) USD 1,138   1,147,275  
Weekley Homes LLC/Weekley Finance Corp., 6.00%, 2/01/23   320   314,080  
   
    3,142,640  
 
Construction Materials — 1.6%  
HD Supply, Inc.:          
  8.13%, 4/15/19 (e)   4,285   4,655,653  
  11.00%, 4/15/20 (e)   770   881,650  
  7.50%, 7/15/20 (e)   2,696   2,844,280  
  5.25%, 12/15/21 (b)(d)   1,828   1,866,845  
Officine MaccaFerri SpA, 5.75%, 6/01/21 EUR 150   183,813  
   
    10,432,241  
 
Consumer Finance — 0.3%  
Ford Motor Credit Co. LLC, 7.00%, 4/15/15 (e) USD 400   409,097  
Hyundai Capital America, 3.75%, 4/06/16 (b)(e)   1,285   1,331,913  
Springleaf Finance Corp., 8.25%, 10/01/23   79   90,060  
   
    1,831,070  
 
Containers & Packaging — 0.4%  
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.:          
  6.00%, 6/30/21 (b)   380   376,200  
  4.25%, 1/15/22 EUR 320   397,427  
Beverage Packaging Holdings Luxembourg II SA, 6.00%, 6/15/17 (b)(e) USD 1,560   1,556,100  
Crown Americas LLC/Crown Americas Capital Corp. III, 6.25%, 2/01/21 (e)   144   151,380  
Crown European Holdings SA, 4.00%, 7/15/22 EUR 260   341,078  
SGD Group SAS, 5.63%, 5/15/19   100   121,858  
   
    2,944,043  
 
Distributors — 0.1%  
VWR Funding, Inc., 7.25%, 9/15/17 (e) USD 874   915,620  
 
Diversified Consumer Services — 0.2%  
Laureate Education, Inc., 9.75%, 9/01/19 (b)   960   996,000  
 


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 20144
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Corporate Bonds Par
(000)
  Value  
Diversified Financial Services — 2.8%  
Aircastle Ltd., 6.25%, 12/01/19 (e) USD 367 $ 393,608  
Ally Financial, Inc.:          
  8.30%, 2/12/15 (e)   2,460   2,490,750  
  8.00%, 11/01/31 (e)   2,030   2,552,725  
  8.00%, 11/01/31   869   1,084,077  
CE Energy AS, 7.00%, 2/01/21 EUR 150   190,574  
Co-Operative Group Holdings, 6.88%, 7/08/20 (i) GBP 190   304,199  
Ford Motor Credit Co. LLC, 3.88%, 1/15/15 (e) USD 2,475   2,484,578  
General Motors Financial Co., Inc. (e):          
  2.63%, 7/10/17   2,760   2,791,420  
  4.38%, 9/25/21   530   549,213  
HSH Nordbank AG, 0.92%, 2/14/17 (c) EUR 153   160,645  
Jefferies Finance LLC/JFIN Co-Issuer Corp. (b):          
  7.38%, 4/01/20 (e) USD 585   564,525  
  6.88%, 4/15/22   456   426,360  
Leucadia National Corp., 8.13%, 9/15/15 (e)   1,870   1,970,045  
MSCI, Inc., 5.25%, 11/15/24 (b)(e)   591   613,162  
Reynolds Group Issuer, Inc.:          
  9.00%, 4/15/19   790   823,575  
  9.88%, 8/15/19   307   330,793  
  5.75%, 10/15/20   625   642,969  
  6.88%, 2/15/21   210   221,813  
   
    18,595,031  
 
Diversified Telecommunication Services — 2.8%  
CenturyLink, Inc.:          
  6.45%, 6/15/21   155   168,950  
  Series V, 5.63%, 4/01/20 (e)   751   792,305  
Level 3 Communications, Inc., 8.88%, 6/01/19 (e)   735   786,450  
Level 3 Financing, Inc.:          
  3.83%, 1/15/18 (c)   411   413,260  
  8.13%, 7/01/19 (e)   3,083   3,283,395  
  7.00%, 6/01/20   495   529,031  
  6.13%, 1/15/21 (e)   1,682   1,753,485  
Telecom Italia SpA:          
  6.13%, 11/15/16 (g) EUR 300   448,575  
  6.38%, 6/24/19 GBP 200   341,699  
  4.88%, 9/25/20 EUR 220   301,081  
  4.50%, 1/25/21   270   364,159  
  5.88%, 5/19/23 GBP 450   753,722  
Telenet Finance V Luxembourg SCA:          
  6.25%, 8/15/22   271   369,830  
  6.75%, 8/15/24   397   555,768  
                   
Corporate Bonds Par
(000)
  Value  
Diversified Telecommunication Services (concluded)  
Verizon Communications, Inc., 3.65%, 9/14/18 (e) USD 7,000 $ 7,431,116  
Windstream Corp.:          
  7.75%, 10/15/20   41   43,030  
  6.38%, 8/01/23   5   4,825  
   
    18,340,681  
 
Electric Utilities — 0.3%  
ContourGlobal Power Holdings SA, 7.13%, 6/01/19 (b)   728   740,631  
Homer City Generation LP (f):          
  8.14% (8.14% Cash), 10/01/19   327   338,205  
  8.73% (8.73% Cash), 10/01/26   589   613,043  
Mirant Mid Atlantic Pass-Through Trust, Series B, 9.13%, 6/30/17   403   433,342  
   
    2,125,221  
 
Electrical Equipment — 0.1%  
Belden, Inc.:          
  5.50%, 4/15/23 EUR 140   179,306  
  Series NOV, 5.50%, 4/15/23   209   264,273  
Techem Energy Metering Service GmbH & Co., 7.88%, 10/01/20   106   145,764  
   
    589,343  
 
Energy Equipment & Services — 0.5%  
Calfrac Holdings LP, 7.50%, 12/01/20 (b) USD 503   452,700  
CGG SA, 7.75%, 5/15/17   111   109,890  
MEG Energy Corp. (b)(e):          
  6.50%, 3/15/21   244   224,480  
  7.00%, 3/31/24   864   784,080  
Peabody Energy Corp. (e):          
  6.00%, 11/15/18   1,004   956,310  
  6.25%, 11/15/21   583   546,563  
Precision Drilling Corp., 5.25%, 11/15/24 (b)   522   443,700  
   
    3,517,723  
 
Food & Staples Retailing — 0.6%  
Brakes Capital, 7.13%, 12/15/18 GBP 1,255   1,940,707  
Premier Foods Finance PLC, 5.56%, 3/16/20 (c)   115   158,074  
R&R Ice Cream PLC:          
  4.75%, 5/15/20 EUR 150   184,186  
  5.50%, 5/15/20 GBP 105   159,916  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 20145
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Corporate Bonds Par
(000)
  Value  
Food & Staples Retailing (concluded)  
Rite Aid Corp., 9.25%, 3/15/20 (e) USD 1,095 $ 1,207,238  
   
    3,650,121  
 
Food Products — 0.3%  
Anna Merger Sub, Inc., 7.75%, 10/01/22 (b)   635   650,875  
Boparan Finance PLC:          
  4.38%, 7/15/21 EUR 105   114,242  
  5.50%, 7/15/21 GBP 115   154,949  
Smithfield Foods, Inc.:          
  5.88%, 8/01/21 (b) USD 193   204,580  
  6.63%, 8/15/22   783   847,597  
Univeg Holding BV, 7.88%, 11/15/20 EUR 135   149,401  
   
    2,121,644  
 
Health Care Equipment & Supplies — 0.2%  
Biomet, Inc., 6.50%, 10/01/20 (e) USD 418   442,662  
DJO Finance LLC/DJO Finance Corp., 8.75%, 3/15/18 (e)   413   433,650  
Teleflex, Inc., 6.88%, 6/01/19 (e)   675   707,063  
   
    1,583,375  
 
Health Care Providers & Services — 2.1%  
Acadia Healthcare Co., Inc., 5.13%, 7/01/22   240   240,600  
Amsurg Corp., 5.63%, 7/15/22 (b)(e)   1,016   1,041,400  
Aviv Healthcare Properties LP/Aviv Healthcare Capital Corp., 7.75%, 2/15/19 (e)   995   1,044,750  
CHS/Community Health Systems, Inc. (e):          
  5.13%, 8/15/18   490   504,087  
  6.88%, 2/01/22   1,404   1,486,485  
Crown Newco 3 PLC, 7.00%, 2/15/18 (b)(d) GBP 205   333,161  
DaVita HealthCare Partners, Inc., 5.13%, 7/15/24 (e) USD 1,093   1,121,008  
HCA Holdings, Inc., 7.75%, 5/15/21   285   305,663  
HCA, Inc.:          
  3.75%, 3/15/19   786   782,954  
  6.50%, 2/15/20   160   177,000  
  5.88%, 3/15/22   82   89,175  
  4.75%, 5/01/23   108   108,675  
  5.00%, 3/15/24   335   339,188  
Hologic, Inc., 6.25%, 8/01/20 (e)   1,289   1,334,921  
Kindred Healthcare, Inc., 6.38%, 4/15/22 (b)   186   179,490  
Omnicare, Inc.:          
  4.75%, 12/01/22   165   167,475  
  5.00%, 12/01/24   104   106,080  
                   
Corporate Bonds Par
(000)
  Value  
Health Care Providers & Services (concluded)  
Tenet Healthcare Corp.:          
  6.25%, 11/01/18 USD 264 $ 285,780  
  5.00%, 3/01/19 (b)(e)   911   897,335  
  4.75%, 6/01/20   520   526,500  
  6.00%, 10/01/20 (e)   811   862,701  
  8.13%, 4/01/22 (e)   1,098   1,227,015  
Voyage Care Bondco PLC, 6.50%, 8/01/18 GBP 355   565,600  
   
    13,727,043  
 
Hotels, Restaurants & Leisure — 4.6%  
Caesars Entertainment Operating Co., Inc., 9.00%, 2/15/20 USD 5,255   4,165,931  
Carlson Travel Holdings, Inc., 7.50% (7.50% Cash or 8.25% PIK), 8/15/19 (b)(f)   204   205,530  
CDW LLC/CDW Finance Corp.:          
  6.00%, 8/15/22   535   559,744  
  5.50%, 12/01/24 (d)   1,147   1,144,132  
Enterprise Funding Ltd., Series ETI, 3.50%, 9/10/20 (g) GBP 100   147,062  
Enterprise Inns PLC, 6.50%, 12/06/18   926   1,491,974  
GLP Capital LP/GLP Financing II, Inc., 4.38%, 11/01/18 USD 357   365,925  
Greektown Holdings LLC/Greektown Mothership Corp., 8.88%, 3/15/19 (b)   485   493,488  
New Red Finance, Inc., 6.00%, 4/01/22 (b)   860   881,500  
Six Flags Entertainment Corp., 5.25%, 1/15/21 (b)(e)   576   577,440  
Snai SpA, 7.63%, 6/15/18 EUR 205   258,835  
Spirit Issuer PLC (c):          
  Series A1, 1.11%, 12/28/28 GBP 498   662,873  
  Series A2, 3.26%, 12/28/31   1,800   2,727,251  
  Series A5, 5.47%, 12/28/34   4,500   6,888,419  
  Series A6, 2.36%, 12/28/36   2,670   4,014,144  
Station Casinos LLC, 7.50%, 3/01/21 (e) USD 2,245   2,368,475  
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 1,250   2,010,946  
  Series A4, 5.66%, 6/30/27   781   1,214,503  
   
    30,178,172  
 
Household Durables — 1.4%  
Ashton Woods USA LLC/Ashton Woods Finance Co., 6.88%, 2/15/21 (b) USD 510   497,250  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 20146
 
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)  
Beazer Homes USA, Inc.:          
  6.63%, 4/15/18 (e) USD 910 $ 953,225  
  5.75%, 6/15/19   523   502,080  
Berkline/Benchcraft LLC, 4.50%, 11/03/15   200    
Brookfield Residential Properties, Inc., 6.50%, 12/15/20 (b)(e)   925   980,500  
Brookfield Residential Properties, Inc./Brookfield Residential US Corp., 6.13%, 7/01/22 (b)   259   271,950  
K. Hovnanian Enterprises, Inc., 7.25%, 10/15/20 (b)(e)   2,130   2,252,475  
KB Home, 7.25%, 6/15/18 (e)   880   953,700  
Standard Pacific Corp., 8.38%, 1/15/21 (e)   1,000   1,155,000  
Taylor Morrison Communities, Inc./Monarch Communities, Inc., 5.25%, 4/15/21 (b)   597   599,985  
Tri Pointe Holdings, Inc. (b):          
  4.38%, 6/15/19   500   495,000  
  5.88%, 6/15/24   340   346,800  
   
    9,007,965  
 
Household Products — 0.1%  
Spectrum Brands, Inc.:          
  6.38%, 11/15/20   250   264,375  
  6.63%, 11/15/22   285   303,525  
   
    567,900  
 
Independent Power and Renewable Electricity Producers — 0.9%  
The AES Corp., 7.75%, 10/15/15 (e)   534   560,700  
Baytex Energy Corp. (b):          
  5.13%, 6/01/21   170   156,400  
  5.63%, 6/01/24   61   54,595  
Calpine Corp.:          
  6.00%, 1/15/22 (b)   143   152,653  
  5.38%, 1/15/23 (e)   1,099   1,114,111  
  5.88%, 1/15/24 (b)   438   465,375  
  5.75%, 1/15/25 (e)   962   978,835  
Dynegy Finance I, Inc./Dynegy Finance II, Inc., 6.75%, 11/01/19 (b)   1,180   1,227,200  
NRG Energy, Inc.:          
  7.88%, 5/15/21   177   191,603  
  6.25%, 5/01/24 (b)   267   273,007  
NRG REMA LLC:          
  Series B, 9.24%, 7/02/17   63   67,073  
  Series C, 9.68%, 7/02/26 (e)   589   636,120  
   
    5,877,672  
 
Insurance — 1.5%  
Allied World Assurance Co., Ltd., 7.50%, 8/01/16 (e)   3,000   3,298,155  
                   
Corporate Bonds Par
(000)
  Value  
Insurance (concluded)  
CNO Financial Group, Inc., 6.38%, 10/01/20 (b)(e) USD 304 $ 323,760  
Forethought Financial Group, Inc., 8.63%, 4/15/21 (b)(e)   750   859,552  
Genworth Holdings, Inc., 4.80%, 2/15/24   240   209,578  
Hockey Merger Sub 2, Inc., 7.88%, 10/01/21 (b)   255   264,563  
MPL 2 Acquisition Canco, Inc., 9.88%, 8/15/18 (b)   595   636,650  
Muenchener Rueckversicherungs AG, 6.00%, 5/26/41 (c) EUR 400   601,551  
Pension Insurance Corp. PLC, 6.50%, 7/03/24 GBP 125   199,362  
Prudential Holdings LLC, 8.70%, 12/18/23 (b)(e) USD 2,871   3,688,373  
   
    10,081,544  
 
Internet Software & Services — 0.2%  
IAC/InterActiveCorp, 4.88%, 11/30/18 (e)   695   714,112  
Interactive Data Corp., 5.88%, 4/15/19 (b)   741   743,779  
   
    1,457,891  
 
IT Services — 1.4%  
Ceridian Corp., 8.88%, 7/15/19 (b)(e)   1,395   1,548,450  
Ceridian HCM Holding, Inc., 11.00%, 3/15/21 (b)(e)   954   1,063,710  
Epicor Software Corp., 8.63%, 5/01/19 (e)   1,260   1,326,150  
First Data Corp.:          
  7.38%, 6/15/19 (b)(e)   1,775   1,868,187  
  6.75%, 11/01/20 (b)(e)   813   865,845  
  11.75%, 8/15/21   713   825,298  
SunGard Data Systems, Inc., 6.63%, 11/01/19 (e)   900   918,000  
WEX, Inc., 4.75%, 2/01/23 (b)(e)   550   533,500  
   
    8,949,140  
 
Media — 5.5%  
Adria Bidco BV, 7.88%, 11/15/20 EUR 140   184,180  
Altice Financing SA, 6.50%, 1/15/22 (b)(e) USD 850   858,500  
Altice SA:          
  7.25%, 5/15/22 EUR 400   517,275  
  7.75%, 5/15/22 (b)(e) USD 1,050   1,085,437  
AMC Networks, Inc., 7.75%, 7/15/21 (e)   865   940,687  
CBS Outdoor Americas Capital LLC/CBS Outdoor Americas Capital Corp. (b):          
  5.25%, 2/15/22   105   107,625  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 20147
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Corporate Bonds Par
(000)
  Value  
Media (continued)  
CBS Outdoor Americas Capital LLC/CBS Outdoor Americas Capital Corp. (b) (concluded):          
  5.63%, 2/15/24 USD 95 $ 97,969  
CCOH Safari LLC:          
  5.50%, 12/01/22   993   1,004,171  
  5.75%, 12/01/24   1,969   1,981,306  
Cengage Learning Acquisitions, Inc., 11.50%, 4/15/20 (a)   509    
Clear Channel Worldwide Holdings, Inc.:          
  7.63%, 3/15/20   677   704,757  
  6.50%, 11/15/22 (e)   965   1,000,994  
  6.50%, 11/15/22   213   222,053  
Columbus International, Inc., 7.38%, 3/30/21 (b)(e)   1,375   1,464,375  
DISH DBS Corp.:          
  7.13%, 2/01/16 (e)   200   212,500  
  4.25%, 4/01/18 (e)   1,330   1,353,275  
  5.88%, 11/15/24 (b)   1,336   1,346,020  
DreamWorks Animation SKG, Inc., 6.88%, 8/15/20 (b)   305   317,963  
Gannett Co., Inc.:          
  5.13%, 10/15/19   197   204,634  
  5.13%, 7/15/20   218   225,085  
  6.38%, 10/15/23   304   327,180  
Gray Television, Inc., 7.50%, 10/01/20 (e)   428   442,980  
iHeartCommunications, Inc.:          
  9.00%, 12/15/19   345   338,963  
  9.00%, 3/01/21 (e)   966   941,850  
  9.00%, 9/15/22 (b)   755   736,125  
Inmarsat Finance PLC, 4.88%, 5/15/22 (b)(e)   825   822,938  
Intelsat Jackson Holdings SA:          
  7.25%, 10/15/20 (e)   1,660   1,761,675  
  5.50%, 8/01/23   515   507,275  
Intelsat Luxembourg SA, 6.75%, 6/01/18   800   820,000  
Level 3 Escrow II, Inc., 5.38%, 8/15/22 (b)   1,055   1,065,550  
Live Nation Entertainment, Inc., 7.00%, 9/01/20 (b)   185   197,025  
MDC Partners, Inc., 6.75%, 4/01/20 (b)   733   756,823  
Media General Financing Sub, Inc., 5.88%, 11/15/22 (b)   303   304,515  
Midcontinent Communications & Midcontinent Finance Corp., 6.25%, 8/01/21 (b)   245   252,350  
NAI Entertainment Holdings/NAI Entertainment Holdings Finance Corp., 5.00%, 8/01/18 (b)   345   357,075  
                   
Corporate Bonds Par
(000)
  Value  
Media (concluded)  
Nielsen Finance LLC/Nielsen Finance Co., 5.00%, 4/15/22 (b) USD 330 $ 332,475  
Numericable Group SA:          
  4.88%, 5/15/19 (b)(e)   1,770   1,750,087  
  5.38%, 5/15/22 EUR 110   143,618  
  6.00%, 5/15/22 (b)(e) USD 1,530   1,554,128  
  5.63%, 5/15/24 EUR 260   340,270  
  6.25%, 5/15/24 (b)(e) USD 510   519,563  
RCN Telecom Services LLC/RCN Capital Corp., 8.50%, 8/15/20 (b)   800   856,000  
Sinclair Television Group, Inc., 5.63%, 8/01/24 (b)   191   186,225  
Sirius XM Radio, Inc., 5.75%, 8/01/21 (b)(e)   424   443,080  
Sterling Entertainment Corp., 10.00%, 12/15/19   1,175   1,198,500  
Townsquare Radio LLC/Townsquare Radio, Inc., 9.00%, 4/01/19 (b)   789   852,120  
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, 7.50%, 3/15/19   1,440   1,515,600  
Virgin Media Secured Finance PLC, 6.00%, 4/15/21 GBP 1,274   2,100,352  
VTR Finance BV, 6.88%, 1/15/24 (b) USD 512   538,880  
   
    35,792,028  
 
Metals & Mining — 2.0%  
Alcoa, Inc., 5.13%, 10/01/24 (e)   1,523   1,604,988  
ArcelorMittal (e):          
  4.25%, 8/05/15   738   751,837  
  6.13%, 6/01/18   612   648,720  
Constellium NV:          
  4.63%, 5/15/21 EUR 195   237,017  
  5.75%, 5/15/24 (b) USD 358   343,680  
Global Brass & Copper, Inc., 9.50%, 6/01/19 (e)   695   758,419  
Kaiser Aluminum Corp., 8.25%, 6/01/20 (e)   510   559,725  
Novelis, Inc.:          
  8.38%, 12/15/17   175   182,438  
  8.75%, 12/15/20 (e)   2,906   3,153,010  
Peabody Energy Corp., 6.50%, 9/15/20   408   382,500  
Perstorp Holding AB, 8.75%, 5/15/17 (b)   290   297,250  
Ryerson, Inc./Joseph T Ryerson & Son, Inc., 9.00%, 10/15/17   160   163,200  
Steel Dynamics, Inc. (e):          
  5.13%, 10/01/21 (b)   645   669,187  
  6.38%, 8/15/22   555   596,625  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 20148
 
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)  
ThyssenKrupp AG, 3.13%, 10/25/19 EUR 400 $ 523,252  
Wise Metals Group LLC/Wise Alloys Finance Corp., 8.75%, 12/15/18 (b)(e) USD 2,156   2,306,920  
   
    13,178,768  
 
Multiline Retail — 0.2%  
Hema Bondco I BV, 6.25%, 6/15/19 EUR 205   218,583  
The Neiman Marcus Group Ltd., 8.00%, 10/15/21 (b)(e) USD 856   911,640  
   
    1,130,223  
 
Oil, Gas & Consumable Fuels — 4.3%  
Access Midstream Partners LP/ACMP Finance Corp.:          
  4.88%, 5/15/23   455   464,100  
  4.88%, 3/15/24   209   213,180  
Antero Resources Finance Corp., 5.38%, 11/01/21 (e)   774   764,325  
Athlon Holdings LP/Athlon Finance Corp.:          
  7.38%, 4/15/21   165   188,719  
  6.00%, 5/01/22 (b)   149   161,293  
Bonanza Creek Energy, Inc., 6.75%, 4/15/21   95   90,250  
California Resources Corp., 6.00%, 11/15/24 (b)   1,280   1,141,600  
Chaparral Energy, Inc., 7.63%, 11/15/22   305   279,075  
Cimarex Energy Co., 4.38%, 6/01/24   206   203,425  
Concho Resources, Inc., 5.50%, 4/01/23 (e)   1,365   1,344,525  
CONSOL Energy, Inc., 5.88%, 4/15/22 (b)(e)   1,653   1,648,867  
El Paso LLC:          
  7.80%, 8/01/31   116   145,373  
  7.75%, 1/15/32 (e)   556   702,784  
Energy Transfer Equity LP, 5.88%, 1/15/24 (e)   875   927,500  
Energy XXI Gulf Coast, Inc., 6.88%, 3/15/24 (b)   64   48,000  
EnQuest PLC, 7.00%, 4/15/22 (b)   228   180,120  
EP Energy LLC/Everest Acquisition Finance, Inc., 6.88%, 5/01/19 (e)   450   469,125  
Hilcorp Energy I LP/Hilcorp Finance Co., 5.00%, 12/01/24 (b)(e)   520   481,000  
Kinder Morgan Energy Partners LP (e):          
  4.15%, 2/01/24   640   643,515  
  4.25%, 9/01/24   1,035   1,044,767  
                   
Corporate Bonds Par
(000)
  Value  
Oil, Gas & Consumable Fuels (continued)  
Kinder Morgan Finance Co. LLC, 6.00%, 1/15/18 (b)(e) USD  1,285 $ 1,426,350  
Kinder Morgan, Inc.:          
  3.05%, 12/01/19 (e)   630   633,393  
  5.00%, 2/15/21 (b)   302   322,385  
  5.63%, 11/15/23 (b)   306   335,453  
Laredo Petroleum, Inc., 7.38%, 5/01/22   132   133,320  
Linn Energy LLC/Linn Energy Finance Corp.:          
  8.63%, 4/15/20 (e)   1,083   980,115  
  7.75%, 2/01/21   215   191,350  
Memorial Production Partners LP/Memorial Production Finance Corp., 7.63%, 5/01/21   344   309,600  
NGPL PipeCo LLC, 9.63%, 6/01/19 (b)   353   378,592  
Oasis Petroleum, Inc.:          
  7.25%, 2/01/19   380   357,200  
  6.50%, 11/01/21   410   396,675  
Range Resources Corp., 5.75%, 6/01/21   161   169,050  
RKI Exploration & Production LLC/RKI Finance Corp., 8.50%, 8/01/21 (b)   97   92,150  
Rose Rock Midstream LP/Rose Rock Finance Corp., 5.63%, 7/15/22   376   366,600  
Rosetta Resources, Inc., 5.63%, 5/01/21   379   361,945  
RSP Permian, Inc., 6.63%, 10/01/22 (b)   359   349,128  
Sabine Pass Liquefaction LLC:          
  5.63%, 4/15/23   536   546,720  
  5.75%, 5/15/24 (e)   456   461,130  
Sabine Pass LNG LP, 7.50%, 11/30/16 (e)   3,110   3,304,375  
Sanchez Energy Corp., 6.13%, 1/15/23 (b)   681   612,900  
SandRidge Energy, Inc.:          
  8.75%, 1/15/20   79   65,570  
  7.50%, 2/15/23 (e)   921   709,170  
Seventy Seven Energy, Inc., 6.50%, 7/15/22 (b)   258   197,370  
Southern Star Central Corp., 5.13%, 7/15/22 (b)(e)   935   935,000  
Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 7.50%, 7/01/21   636   686,880  
Tesoro Logistics LP/Tesoro Logistics Finance Corp.:          
  5.88%, 10/01/20 (e)   138   140,070  
  6.25%, 10/15/22 (b)   677   690,540  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 20149
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Corporate Bonds Par
(000)
  Value  
 
Oil, Gas & Consumable Fuels (concluded)  
Ultra Petroleum Corp., 5.75%, 12/15/18 (b) USD  425 $ 412,781  
Whiting Petroleum Corp., 5.00%, 3/15/19 (e)   1,426   1,386,785  
   
    28,094,140  
 
Paper & Forest Products — 0.0%  
NewPage Corp., 11.38%, 12/31/14 (a)(j)   3,177    
 
Pharmaceuticals — 1.1%  
Capsugel SA, 7.00% (7.00% Cash or 7.75% PIK), 5/15/19 (b)(f)   156   157,950  
Endo Finance LLC/Endo Finco, Inc. (b):          
  7.00%, 12/15/20   135   141,413  
  7.25%, 1/15/22   121   129,470  
Grifols Worldwide Operations Ltd., 5.25%, 4/01/22 (b)   759   781,770  
Mallinckrodt International Finance SA, 5.75%, 8/01/22 (b)(e)   830   848,675  
Valeant Pharmaceuticals International, Inc. (b):          
  6.75%, 8/15/18 (e)   2,214   2,366,212  
  6.88%, 12/01/18 (e)   1,210   1,253,862  
  6.38%, 10/15/20 (e)   613   635,994  
  7.50%, 7/15/21   335   361,800  
  5.63%, 12/01/21   520   525,200  
   
    7,202,346  
 
Professional Services — 0.1%  
Truven Health Analytics, Inc., 10.63%, 6/01/20 (e)   540   550,800  
 
Real Estate Investment Trusts (REITs) — 0.5%  
Felcor Lodging LP, 6.75%, 6/01/19 (e)   820   852,800  
iStar Financial, Inc.:          
  4.00%, 11/01/17   435   428,475  
  5.00%, 7/01/19   305   298,900  
Rayonier AM Products, Inc., 5.50%, 6/01/24 (b)   64   59,520  
Ventas Realty LP/Ventas Capital Corp., 4.75%, 6/01/21 (e)   1,300   1,418,373  
   
    3,058,068  
 
Real Estate Management & Development — 0.9%  
Grand City Properties SA, Series D, 2.00%, 10/29/21 EUR 100   122,976  
Realogy Corp. (b):          
  7.63%, 1/15/20 (e) USD 1,837   1,993,145  
  9.00%, 1/15/20   301   331,853  
                   
Corporate Bonds Par
(000)
  Value  
 
Real Estate Management & Development (concluded)  
Realogy Group LLC/Realogy Co-Issuer Corp., 4.50%, 4/15/19 (b) USD  759 $ 757,102  
Rialto Holdings LLC/Rialto Corp., 7.00%, 12/01/18 (b)   220   224,950  
Shea Homes LP/Shea Homes Funding Corp., 8.63%, 5/15/19 (e)   2,110   2,236,600  
   
    5,666,626  
 
Road & Rail — 1.1%  
Asciano Finance Ltd., 3.13%, 9/23/15 (b)(e)   3,400   3,450,096  
EC Finance PLC, 5.13%, 7/15/21 EUR 180   230,527  
Florida East Coast Holdings Corp., 6.75%, 5/01/19 (b)(e) USD 1,170   1,196,325  
The Hertz Corp.:          
  7.50%, 10/15/18   540   560,250  
  6.75%, 4/15/19   405   418,162  
  5.88%, 10/15/20   435   439,350  
  7.38%, 1/15/21 (e)   675   712,125  
Watco Cos. LLC/Watco Finance Corp., 6.38%, 4/01/23 (b)   319   324,582  
   
    7,331,417  
 
Semiconductors & Semiconductor Equipment — 0.2%  
Micron Technology, Inc., 5.50%, 2/01/25 (b)(e)   840   844,200  
NXP BV/NXP Funding LLC, 5.75%, 2/15/21 (b)(e)   560   592,200  
Sensata Technologies BV, 5.63%, 11/01/24 (b)   179   189,964  
   
    1,626,364  
 
Software — 0.7%  
Infor Software Parent LLC/Infor Software Parent, Inc., 7.13%  (7.13% Cash or 7.88% PIK), 5/01/21 (b)(f)   744   742,140  
Infor US, Inc., 9.38%, 4/01/19 (e)   2,000   2,163,100  
Nuance Communications, Inc., 5.38%, 8/15/20 (b)(e)   1,715   1,727,863  
   
    4,633,103  
 
Specialty Retail — 0.3%  
Magnolia BC SA, 9.00%, 8/01/20 EUR 171   204,125  
New Look Bondco I PLC, 8.75%, 5/14/18 GBP 100   164,791  
Party City Holdings, Inc., 8.88%, 8/01/20 USD 374   402,985  
PC Nextco Holdings LLC/PC Nextco Finance, Inc., 8.75%, 8/15/19   252   255,780  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201410
 
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)  
Sally Holdings LLC/Sally Capital, Inc., 5.50%, 11/01/23 (e) USD  508 $ 533,400  
THOM Europe SAS, 7.38%, 7/15/19 EUR  230   265,259  
   
    1,826,340  
 
Textiles, Apparel & Luxury Goods — 0.2%  
Levi Strauss & Co., 6.88%, 5/01/22 USD  380   413,250  
Springs Industries, Inc., 6.25%, 6/01/21   645   630,488  
The William Carter Co., 5.25%, 8/15/21   346   358,975  
   
    1,402,713  
 
Trading Companies & Distributors — 0.2%  
Ashtead Capital, Inc. (b):          
  6.50%, 7/15/22 (e)   1,054   1,130,415  
  5.63%, 10/01/24   420   443,100  
   
    1,573,515  
 
Transportation Infrastructure — 1.9%  
Aguila 3 SA, 7.88%, 1/31/18 (b)(e)   686   672,280  
Federal Express Corp. 2012 Pass-Through Trust, 2.63%, 1/15/18 (b)(e)   917   929,412  
JCH Parent, Inc., 10.50% (10.50% Cash or 11.25% PIK), 3/15/19 (b)(f)   878   829,710  
Penske Truck Leasing Co. LP/PTL Finance Corp. (b)(e):          
  3.13%, 5/11/15   3,372   3,407,565  
  3.38%, 3/15/18   6,155   6,441,275  
   
    12,280,242  
 
Wireless Telecommunication Services — 2.0%  
Digicel Ltd., 6.00%, 4/15/21 (b)(e)   2,073   2,031,540  
The Geo Group, Inc., 5.88%, 1/15/22   340   351,050  
SBA Communications Corp., 4.88%, 7/15/22 (b)   815   792,587  
Sprint Communications, Inc. (b)(e):          
  9.00%, 11/15/18   2,020   2,338,150  
  7.00%, 3/01/20   1,141   1,255,813  
Sprint Corp. (e):          
  7.88%, 9/15/23   1,735   1,817,412  
  7.13%, 6/15/24   590   583,362  
T-Mobile USA, Inc.:          
  6.63%, 4/28/21   263   270,890  
  6.13%, 1/15/22   75   76,313  
  6.73%, 4/28/22   173   179,055  
  6.00%, 3/01/23   478   485,170  
  6.50%, 1/15/24   535   547,038  
                   
Corporate Bonds Par
(000)
  Value  
 
Wireless Telecommunication Services (concluded)  
T-Mobile USA, Inc. (concluded):          
  6.38%, 3/01/25 (e) USD  1,520 $ 1,542,800  
Wind Acquisition Finance SA, 4.00%, 7/15/20 EUR  695   863,747  
   
    13,134,927  
 
Total Corporate Bonds57.3%   375,290,222  
 
 
   
Floating Rate Loan Interests (c)  
 
Aerospace & Defense — 0.9%  
BE Aerospace, Inc., 2014 Term Loan B, 4.25%, 11/19/21 (d) USD 910   910,946  
DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/20   1,280   1,274,494  
TASC, Inc., 2nd Lien Term Loan, 12.00%, 5/30/21   1,375   1,393,329  
Transdigm, Inc.:          
  Term Loan C, 3.75%, 2/28/20   648   642,050  
  Term Loan D, 3.75%, 6/04/21   299   296,305  
TransUnion LLC, Term Loan, 4.00%, 4/09/21   1,572   1,557,857  
   
    6,074,981  
 
Air Freight & Logistics — 0.4%  
CEVA Group PLC, Synthetic LC, 6.50%, 3/19/21   678   640,703  
CEVA Intercompany BV, Synthetic LC, 6.50%, 3/19/21   712   672,273  
CEVA Logistics Canada ULC, Canadian Term Loan, 6.50%, 3/19/21   123   115,909  
CEVA Logistics U.S. Holdings, Inc., Term Loan, 6.50%, 3/19/21   981   927,273  
   
    2,356,158  
 
Airlines — 0.1%  
Northwest Airlines, Inc.:          
  2.18%, 3/10/17   376   364,358  
  1.56%, 9/10/18   552   525,090  
US Airways Group, Inc., Term Loan B1, 3.50%, 5/23/19   7   6,677  
   
    896,125  
 
Auto Components — 1.9%  
Affinia Group Intermediate Holdings, Inc., Term Loan B2, 4.75%, 4/27/20   741   741,850  
Autoparts Holdings Ltd.:          
  1st Lien Term Loan, 6.50%, 7/29/17   960   960,252  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201411
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Auto Components (concluded)  
Autoparts Holdings Ltd. (concluded):          
  2nd Lien Term Loan, 10.50%, 1/29/18 USD  1,250 $ 1,219,787  
Dayco Products LLC, Term Loan B, 5.25%, 12/12/19   854   850,025  
Gates Global, Inc., Term Loan B, 4.25%, 7/05/21   3,340   3,305,364  
Goodyear Tire & Rubber Co., 2nd Lien Term Loan, 4.75%, 4/30/19   2,985   2,993,388  
INA Beteiligungsgesellschaft mbH, Term Loan B, 4.25%, 5/15/20   975   975,946  
Transtar Holding Co., 1st Lien Term Loan, 5.75%, 10/09/18   1,248   1,235,946  
   
    12,282,558  
 
Banks — 0.1%  
Redtop Acquisitions Ltd.:          
  1st Lien Term Loan, 4.50%, 12/03/20   417   417,892  
  2nd Lien Term Loan, 8.25%, 6/03/21   352   352,778  
   
    770,670  
 
Beverages — 0.0%  
Le-Nature's, Inc., Tranche B Term Loan, 10.25%, 3/01/11 (a)(j)   1,000    
 
Building Products — 1.1%  
Continental Building Products LLC, 1st Lien Term Loan, 4.00%, 8/28/20   831   817,333  
CPG International, Inc., Term Loan, 4.75%, 9/30/20   1,635   1,630,756  
GYP Holdings III Corp., 1st Lien Term Loan, 4.75%, 4/01/21   940   924,413  
Jeld-Wen, Inc., Term Loan B, 5.25%, 10/15/21   1,025   1,021,802  
Ply Gem Industries, Inc., Term Loan, 4.00%, 2/01/21   1,144   1,128,997  
United Subcontractors, Inc., Term Loan, 4.24%, 6/30/15   172   162,963  
Wilsonart LLC:          
  Incremental Term Loan B2, 4.00%, 10/31/19   764   751,333  
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Building Products (concluded)  
Wilsonart LLC (concluded):          
  Term Loan B, 4.00%, 10/31/19 USD  806 $ 792,059  
   
    7,229,656  
 
Capital Markets — 0.3%  
Affinion Group, Inc.:          
  2nd Lien Term Loan, 8.50%, 10/12/18   633   584,517  
  Term Loan B, 6.75%, 4/30/18   523   500,386  
American Capital Holdings, Inc., 2017 Term Loan, 3.50%, 8/22/17   576   570,913  
   
    1,655,816  
 
Chemicals — 1.4%  
Evergreen Acqco 1 LP, Term Loan, 5.00%, 7/09/19   767   764,737  
INEOS US Finance LLC, 6 Year Term Loan, 3.75%, 5/04/18   660   652,401  
MacDermid, Inc., 1st Lien Term Loan, 4.00%, 6/07/20   662   651,535  
Minerals Technologies, Inc., Term Loan B, 4.00%, 5/09/21   1,271   1,269,138  
Nexeo Solutions LLC, Term Loan B, 5.00%, 9/08/17   1,255   1,244,050  
OXEA Finance LLC:          
  2nd Lien Term Loan, 8.25%, 7/15/20   705   683,850  
  Term Loan B2, 4.25%, 1/15/20   673   658,895  
Royal Adhesives and Sealants LLC, 1st Lien Term Loan, 5.50%, 7/31/18   771   771,925  
Solenis International LP:          
  1st Lien Term Loan, 4.25%, 7/31/21   520   512,528  
  2nd Lien Term Loan, 7.75%, 7/31/22   1,050   1,028,674  
Tata Chemicals North America, Inc., Term Loan B, 3.75%, 8/07/20   657   646,837  
   
    8,884,570  
 
Commercial Services & Supplies — 1.5%  
ADS Waste Holdings, Inc., Term Loan, 3.75%, 10/09/19   1,010   990,742  
Brand Energy & Infrastructure Services, Inc., Term Loan B, 4.75%, 11/26/20   1,563   1,553,090  
Catalent Pharma Solutions, Inc., Term Loan:          
  6.50%, 12/29/17   54   54,423  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201412
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Commercial Services & Supplies (concluded)  
Catalent Pharma Solutions, Inc., Term Loan (concluded):          
  B, 4.25%, 5/20/21 (d) USD  1,353 $ 1,354,561  
Connolly Corp.:          
  1st Lien Term Loan, 5.00%, 5/14/21   1,172   1,174,629  
  2nd Lien Term Loan, 8.00%, 5/14/22   1,000   998,750  
Koosharem LLC, Exit Term Loan, 7.50%, 5/15/20   1,870   1,856,285  
Livingston International, Inc., 1st Lien Term Loan, 5.00%, 4/18/19   337   325,443  
Spin Holdco, Inc., Term Loan B, 4.25%, 11/14/19   1,773   1,760,905  
   
    10,068,828  
 
Communications Equipment — 1.7%  
Amaya Holdings BV:          
  1st Lien Term Loan, 5.00%, 8/01/21   975   973,479  
  2nd Lien Term Loan, 8.00%, 8/01/22   3,960   4,029,300  
Applied Systems, Inc.:          
  1st Lien Term Loan, 4.25%, 1/25/21   328   325,723  
  2nd Lien Term Loan, 7.50%, 1/23/22   265   264,669  
Avaya, Inc., Extended Term Loan B3, 4.65%, 10/26/17   758   735,875  
CommScope, Inc., Term Loan B3, 2.83%, 1/21/17   433   430,959  
Telesat Canada, Term Loan A, 4.37%, 3/24/17 CAD 1,606   1,400,622  
Zayo Group LLC/Zayo Capital, Inc., Term Loan B, 4.00%, 7/02/19 USD 2,745   2,737,894  
   
    10,898,521  
 
Construction & Engineering — 0.1%  
Centaur Acquisition LLC, 2nd Lien Term Loan, 8.75%, 2/20/20   710   720,650  
 
Construction Materials — 0.4%  
Filtration Group Corp., 1st Lien Term Loan, 4.50%, 11/21/20   501   500,742  
HD Supply, Inc., Term Loan B, 4.00%, 6/28/18   1,864   1,856,859  
   
    2,357,601  
 
Containers & Packaging — 0.2%  
Ardagh Holdings USA, Inc., Incremental Term Loan, 4.00%, 12/17/19   383   381,478  
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Containers & Packaging (concluded)  
Berry Plastics Holding Corp., Term Loan E, 3.75%, 1/06/21 USD  904 $ 891,253  
   
    1,272,731  
 
Distributors — 0.3%  
ABC Supply Co., Inc., Term Loan, 3.50%, 4/16/20   2,084   2,043,584  
American Tire Distributors Holdings, Inc., Term Loan B, 5.75%, 6/01/18   199   199,249  
   
    2,242,833  
 
Diversified Consumer Services — 0.6%  
Allied Security Holdings LLC, 1st Lien Term Loan, 4.25%, 2/12/21   515   511,441  
Garda World Securities Corp.:          
  Delayed Draw Term Loan, 4.00%, 11/06/20   76   74,648  
  Term Loan B, 4.00%, 11/06/20   296   291,804  
ROC Finance LLC, Term Loan, 5.00%, 6/20/19   624   595,440  
ServiceMaster Company, 2014 Term Loan B, 4.25%, 7/01/21   1,090   1,082,642  
Weight Watchers International, Inc., Term Loan B2, 4.00%, 4/02/20   1,652   1,283,829  
   
    3,839,804  
 
Diversified Financial Services — 0.5%  
Reynolds Group Holdings, Inc., Dollar Term Loan, 4.00%, 12/01/18   1,506   1,499,903  
RPI Finance Trust, Term Loan B3, 3.25%, 11/09/18   446   444,099  
SAM Finance Luxembourg Sarl, Term Loan, 4.25%, 12/17/20   1,117   1,120,750  
   
    3,064,752  
 
Diversified Telecommunication Services — 1.9%  
Consolidated Communications, Inc., Term Loan B, 4.25%, 12/23/20   2,221   2,225,922  
Hawaiian Telcom Communications, Inc., Term Loan B, 5.00%, 6/06/19   1,720   1,720,609  
Integra Telecom, Inc. :          
  2nd Lien Term Loan, 9.75%, 2/21/20   1,270   1,259,688  
  Term Loan B, 5.25%, 2/22/19   1,157   1,148,336  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201413
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Diversified Telecommunication Services (concluded)  
Level 3 Financing, Inc.:          
  2019 Term Loan, 4.00%, 8/01/19 USD  659 $ 657,071  
  2020 Term Loan B, 4.00%, 1/15/20   4,240   4,233,640  
  Incremental Term Loan B5, 4.50%, 1/31/22   1,320   1,323,709  
   
    12,568,975  
 
Electric Utilities — 0.3%  
American Energy - Utica LLC:          
  2nd Lien Delayed Draw Term Loan, 11.00%, 9/30/18   496   481,199  
  Incremental 2nd Lien Term Loan, 11.00%, 9/30/18   496   481,274  
Energy Future Intermediate Holding Co LLC, DIP Term Loan, 4.25%, 6/19/16   830   830,523  
   
    1,792,996  
 
Electrical Equipment — 1.0%  
Texas Competitive Electric Holdings Co. LLC:          
  DIP Term Loan, 3.75%, 5/05/16   866   871,164  
  Extended Term Loan, 4.65%, 10/10/17 (a)(j)   7,640   5,532,888  
   
    6,404,052  
 
Electronic Equipment, Instruments & Components — 0.1%  
CDW LLC, Term Loan, 3.25%, 4/29/20   837   825,348  
 
Energy Equipment & Services — 0.2%  
Dynegy Holdings, Inc., Term Loan B2, 4.00%, 4/23/20   1,096   1,091,839  
 
Food & Staples Retailing — 0.3%  
New Albertson's, Inc., Term Loan, 4.75%, 6/27/21   630   626,850  
Rite Aid Corp., 2nd Lien Term Loan, 5.75%, 8/21/20   240   241,999  
Supervalu, Inc., Refinancing Term Loan B, 4.50%, 3/21/19   902   897,431  
   
    1,766,280  
 
Food Products — 1.4%  
Del Monte Foods, Inc., 1st Lien Term Loan, 4.25%, 2/18/21   640   593,431  
Diamond Foods, Inc., Term Loan, 4.25%, 8/20/18   1,499   1,487,435  
Dole Food Co., Inc., Term Loan B, 4.50%, 11/01/18   1,043   1,037,859  
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Food Products (concluded)  
Hearthside Group Holdings LLC, Term Loan, 4.50%, 6/02/21 USD  673 $ 673,312  
Pabst Brewing Company, Inc., Term Loan, 5.75%, 10/21/21 (d)   884   884,301  
Performance Food Group Co., 2nd Lien Term Loan, 6.25%, 11/14/19   1,037   1,031,048  
Pinnacle Foods Finance LLC, Term Loan G, 3.00%, 4/29/20   1,038   1,022,516  
Reddy Ice Corp.:          
  1st Lien Term Loan, 6.75%, 5/01/19   1,468   1,320,885  
  2nd Lien Term Loan, 10.75%, 11/01/19   1,380   1,159,200  
   
    9,209,987  
 
Health Care Equipment & Supplies — 1.8%  
Arysta LifeScience SPC LLC, 1st Lien Term Loan, 4.50%, 5/29/20   999   995,163  
Biomet, Inc., Term Loan B2, 3.66%, 7/25/17   1,157   1,154,992  
Capsugel Holdings US, Inc., Term Loan B, 3.50%, 8/01/18   511   505,321  
DJO Finance LLC, 2017 Term Loan, 4.25%, 9/15/17   1,692   1,688,818  
The Hologic, Inc., Term Loan B, 3.25%, 8/01/19   1,304   1,299,108  
Immucor, Inc., Refinancing Term Loan B2, 5.00%, 8/17/18   632   631,915  
Millennium Laboratories, Inc., Term Loan B, 5.25%, 4/16/21   1,820   1,826,135  
National Vision, Inc.:          
  1st Lien Term Loan, 4.00%, 3/12/21   1,248   1,221,145  
  2nd Lien Term Loan, 6.75%, 3/11/22   340   315,350  
Ortho-Clinical Diagnostics, Inc., Term Loan B, 4.75%, 6/30/21   1,995   1,975,050  
   
    11,612,997  
 
Health Care Providers & Services — 2.4%  
Amedisys, Inc., 2nd Lien Term Loan, 8.50%, 6/25/20   1,360   1,326,000  
Amsurg Corp., 1st Lien Term Loan B, 3.75%, 7/16/21   459   457,212  
Ardent Medical Services, Inc., Term Loan, 6.75%, 7/02/18   438   441,785  
CareCore National LLC, Term Loan B, 5.50%, 3/05/21 (d)   700   701,316  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201414
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Health Care Providers & Services (concluded)  
CHS/Community Health Systems, Inc., Term Loan D, 4.25%, 1/27/21 USD  3,975 $ 3,981,163  
ConvaTec, Inc., Term Loan, 4.00%, 12/22/16   1,169   1,167,082  
DaVita HealthCare Partners, Inc., Term Loan B, 3.50%, 6/24/21   2,838   2,825,486  
Envision Acquisition Co. LLC, Term Loan, 5.75%, 11/04/20   896   895,950  
Genesis HealthCare Corp., Term Loan B, 10.00%, 9/25/17   1,000   1,044,871  
Ikaria, Inc.:          
  1st Lien Term Loan, 5.00%, 2/12/21   174   174,861  
  2nd Lien Term Loan, 8.75%, 2/14/22   270   271,350  
inVentiv Health, Inc., Incremental Term Loan B3, 7.75%, 5/15/18   231   229,250  
MPH Acquisition Holdings LLC, Term Loan, 3.75%, 3/31/21   742   729,630  
National Mentor Holdings, Inc., Term Loan B, 4.75%, 1/31/21   577   574,526  
Surgery Center Holdings, Inc., 1st Lien Term Loan, 5.25%, 11/03/20   405   404,894  
Surgical Care Affiliates, Inc., Class C Incremental Term Loan, 4.00%, 6/29/18   593   589,538  
   
    15,814,914  
 
Health Care Technology — 0.1%  
IMS Health, Inc., Term Loan, 3.50%, 3/17/21   627   619,278  
 
Hotels, Restaurants & Leisure — 4.1%  
1011778 B.C. Unlimited Liability Co., 2014 Term Loan B, 4.50%, 10/27/21   1,875   1,879,106  
Bronco Midstream Funding LLC, Term Loan B, 5.00%, 8/15/20   1,221   1,215,042  
Caesars Entertainment Operating Co., Inc.:          
  Extended Term Loan B6, 6.99%, 3/01/17   931   847,598  
  Term Loan B7, 9.75%, 1/28/18   1,742   1,603,469  
Caesars Entertainment Resort Properties LLC, Term Loan B, 7.00%, 10/11/20   3,106   2,956,729  
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Hotels, Restaurants & Leisure (concluded)  
CCM Merger, Inc., Term Loan B, 4.50%, 8/08/21 USD  774 $ 773,235  
Dave & Buster's, Inc., Term Loan, 4.50%, 7/25/20   235   235,048  
Diamond Resorts Corp., Term Loan, 5.50%, 5/09/21   1,820   1,806,784  
Four Seasons Holdings, Inc., 2nd Lien Term Loan, 6.25%, 12/27/20   585   587,925  
Great Wolf Resorts, Inc., Term Loan B, 1.00%, 8/06/20 (d)   700   697,375  
Hilton Worldwide Finance LLC, Term Loan B2, 3.50%, 10/26/20   1,717   1,701,303  
Intrawest ULC, Term Loan, 5.50%, 12/09/20   610   612,298  
La Quinta Intermediate Holdings LLC, Term Loan B, 4.00%, 4/14/21   4,698   4,676,764  
Las Vegas Sands LLC, Term Loan B, 3.25%, 12/19/20   645   643,648  
MGM Resorts International, Term Loan B, 3.50%, 12/20/19   1,067   1,050,355  
Pinnacle Entertainment, Inc., Term Loan B2, 3.75%, 8/13/20   694   687,027  
Playa Resorts Holding BV, Term Loan B, 4.00%, 8/06/19   438   432,825  
Sabre, Inc.:          
  Incremental Term Loan, 4.50%, 2/19/19   396   394,515  
  Term Loan B, 4.00%, 2/19/19   560   555,522  
Station Casinos LLC, Term Loan B, 4.25%, 3/02/20   2,335   2,316,208  
Travelport Finance (Luxembourg) Sarl, 2014 Term Loan B, 6.00%, 9/02/21   1,200   1,203,216  
   
    26,875,992  
 
Household Products — 0.2%  
Bass Pro Group LLC, Term Loan, 3.75%, 11/20/19   1,147   1,139,672  
 
Independent Power and Renewable Electricity Producers — 0.3%  
Calpine Corp., Term Loan B1, 4.00%, 4/01/18   1,046   1,043,989  
Granite Acquisition, Inc. (d):          
  Term Loan B, 1.00%, 10/15/21   1,116   1,121,181  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201415
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Independent Power and Renewable Electricity Producers (concluded)  
Granite Acquisition, Inc. (d) (concluded):          
  Term Loan C, 1.00%, 10/15/21 USD  49 $ 49,332  
   
    2,214,502  
 
Industrial Conglomerates — 0.3%  
Sequa Corp., Term Loan B, 5.25%, 6/19/17   2,343   2,284,242  
 
Insurance — 0.7%  
CNO Financial Group, Inc., Term Loan B2, 3.75%, 9/20/18   1,305   1,290,231  
Cooper Gay Swett & Crawford of Delaware Holding Corp.:          
  1st Lien Term Loan, 5.00%, 4/16/20   1,047   978,711  
  2nd Lien Term Loan C, 8.25%, 10/16/20   500   440,000  
Sedgwick Claims Management Services, Inc.:          
  1st Lien Term Loan, 3.75%, 3/01/21   1,099   1,076,661  
  2nd Lien Term Loan, 6.75%, 2/28/22   665   649,485  
   
    4,435,088  
 
Internet Software & Services — 0.5%  
Dealertrack Technologies, Inc., Term Loan B, 3.50%, 2/28/21   1,169   1,154,068  
Go Daddy Operating Co. LLC, Term Loan B, 4.75%, 5/13/21   803   800,980  
Interactive Data Corp., 2014 Term Loan, 4.50%, 5/02/21   1,446   1,452,522  
   
    3,407,570  
 
IT Services — 1.9%  
Ceridian LLC, Term Loan B2, 4.50%, 5/09/17   551   546,405  
First Data Corp.:          
  2018 Extended Term Loan, 3.66%, 3/23/18   7,249   7,154,093  
  2018 Term Loan, 3.66%, 9/24/18   1,640   1,617,106  
InfoGroup, Inc., Term Loan, 7.50%, 5/26/18   754   698,551  
SunGard Availability Services Capital, Inc., Term Loan B, 6.00%, 3/31/19   796   707,445  
SunGard Data Systems, Inc.:          
  Term Loan C, 3.91%, 2/28/17   705   703,237  
  Term Loan E, 4.00%, 3/08/20   379   378,143  
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
IT Services (concluded)  
Vantiv, LLC, 2014 Term Loan B, 3.75%, 6/13/21 USD  948 $ 941,115  
   
    12,746,095  
 
Leisure Products — 0.1%  
Bauer Performance Sports Ltd., Term Loan B, 4.00%, 4/15/21   422   418,823  
 
Machinery — 0.8%  
Alliance Laundry Systems LLC, Refinancing Term Loan, 4.25%, 12/10/18   1,043   1,037,716  
Intelligrated, Inc., 1st Lien Term Loan, 4.50%, 7/30/18   943   934,775  
Mueller Water Products, Inc., Term Loan B, 1.00%, 11/19/21 (d)   305   306,144  
Navistar International Corp., Term Loan B, 5.75%, 8/17/17   525   529,058  
Rexnord LLC, 1st Lien Term Loan B, 4.00%, 8/21/20   1,313   1,303,332  
Wabash National Corp., Term Loan B, 4.50%, 5/08/19   820   821,705  
   
    4,932,730  
 
Media — 4.4%  
Activision Blizzard, Inc., Term Loan B, 3.25%, 10/12/20   1,090   1,090,160  
Advanstar Communications, Inc., 2nd Lien Term Loan, 9.50%, 6/06/20   465   467,325  
Cengage Learning Acquisitions, Inc.:          
  0.00%, 7/03/15   2,005    
  7.00%, 3/31/20   2,428   2,427,412  
Charter Communications Operating LLC:          
  Term Loan E, 3.00%, 7/01/20   1,170   1,153,735  
  Term Loan G, 4.25%, 9/12/21   1,435   1,444,299  
Clear Channel Communications, Inc.:          
  Term Loan B, 3.81%, 1/29/16   153   151,634  
  Term Loan D, 6.91%, 1/30/19   4,063   3,817,189  
Cumulus Media Holdings, Inc., 2013 Term Loan, 4.25%, 12/23/20   1,315   1,292,397  
Getty Images, Inc., Term Loan B, 4.75%, 10/18/19   207   195,926  
Hemisphere Media Holdings LLC, Term Loan B, 5.00%, 7/30/20   884   879,972  
Intelsat Jackson Holdings SA, Term Loan B2, 3.75%, 6/30/19   2,514   2,498,234  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201416
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Media (concluded)  
Lions Gate Entertainment Corp., 2nd Lien Term Loan, 5.00%, 7/17/20 USD  395 $ 398,456  
Media General, Inc. (c):          
  Delayed Draw Term Loan B, 4.25%, 7/31/20   680   681,083  
  Term Loan B2, 1.00%, 7/31/20 (d)   490   488,775  
Numericable U.S. LLC:          
  Term Loan B1, 4.50%, 5/21/20   1,106   1,106,237  
  Term Loan B2, 4.50%, 5/21/20   957   957,047  
Salem Communications Corp., Term Loan B, 4.50%, 3/13/20   966   952,717  
Tribune Co., 2013 Term Loan, 4.00%, 12/27/20   1,083   1,078,066  
Univision Communications, Inc., Term Loan C4, 4.00%, 3/01/20   2,417   2,392,423  
UPC Financing Partnership, Term Loan AG, 3.76%, 3/31/21 EUR 442   549,760  
Virgin Media Investment Holdings Ltd.:          
  Term Loan B, 3.50%, 6/07/20 USD 410   405,535  
  Term Loan E, 4.25%, 6/30/23 GBP 790   1,228,896  
WideOpenWest Finance LLC, Term Loan B, 4.75%, 4/01/19 USD 728   726,107  
William Morris Endeavor Entertainment LLC:          
  1st Lien Term Loan, 5.25%, 5/06/21   543   528,782  
  2nd Lien Term Loan, 8.25%, 5/01/22   615   596,550  
Ziggo Financing Partnership:          
  Term Loan B1, 3.25%, 1/15/22   489   480,515  
  Term Loan B2A, 3.50%, 1/15/22   333   327,757  
  Term Loan B3, 3.50%, 1/15/22   548   539,042  
   
    28,856,031  
 
Metals & Mining — 0.6%  
Ameriforge Group, Inc., 2nd Lien Term Loan, 8.75%, 12/19/20   255   252,292  
FMG Resources August 2006 Property Ltd., Term Loan B, 3.75%, 6/30/19   502   470,288  
Novelis, Inc., Term Loan, 3.75%, 3/10/17   1,996   1,992,211  
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Metals & Mining (concluded)  
Windsor Financing LLC, Term Loan B, 6.25%, 12/05/17 USD  1,502 $ 1,509,391  
   
    4,224,182  
 
Multiline Retail — 0.4%  
BJ's Wholesale Club, Inc.:          
  1st Lien Term Loan, 4.50%, 9/26/19   585   580,989  
  2nd Lien Term Loan, 8.50%, 3/26/20   575   575,408  
Neiman Marcus Group, Inc., 2020 Term Loan, 4.25%, 10/25/20   1,638   1,627,307  
   
    2,783,704  
 
Oil, Gas & Consumable Fuels — 1.7%  
American Energy - Marcellus LLC, 1st Lien Term Loan, 5.25%, 8/04/20   296   280,302  
Arch Coal, Inc., Term Loan B, 6.25%, 5/16/18   1,495   1,315,447  
Drillships Financing Holding, Inc., Term Loan B1, 6.00%, 3/31/21 (d)   1,757   1,616,413  
Drillships Ocean Ventures, Inc., Term Loan B, 5.50%, 7/25/21   171   158,500  
EP Energy LLC/Everest Acquisition Finance, Inc., Term Loan B3, 3.50%, 5/24/18   1,127   1,100,968  
Fieldwood Energy LLC:          
  1st Lien Term Loan, 3.88%, 9/28/18   465   444,880  
  2nd Lien Term Loan, 8.38%, 9/30/20   420   380,276  
Obsidian Natural Gas Trust, Term Loan, 7.00%, 11/02/15   719   711,770  
Offshore Group Investment Ltd., Term Loan B, 5.75%, 3/28/19   112   90,623  
Panda Patriot LLC, Term Loan B1, 6.75%, 12/19/20   1,645   1,653,225  
Panda Temple II Power LLC, Term Loan B, 7.25%, 4/03/19   900   906,750  
Power Buyer LLC, 2nd Lien Term Loan, 8.25%, 11/06/20   275   266,750  
Samchully Midstream 3 LLC, Term Loan B, 5.75%, 10/20/21   1,005   987,413  
Seventy Seven Operating LLC, Term Loan B, 3.75%, 6/25/21   105   101,015  
Southcross Energy Partners LP, 1st Lien Term Loan, 5.25%, 8/04/21   459   459,997  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201417
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Oil, Gas & Consumable Fuels (concluded)  
Southcross Holdings Borrower LP, Term Loan B, 6.00%, 8/04/21 USD  369 $ 360,542  
WTG Holdings III Corp., 1st Lien Term Loan, 4.75%, 1/15/21   298   295,889  
   
    11,130,760  
 
Pharmaceuticals — 1.4%  
Akorn, Inc., Term Loan B, 4.50%, 4/16/21   1,295   1,296,075  
Endo Luxembourg Finance Co. I Sarl, 2014 Term Loan B, 3.25%, 2/28/21   851   838,670  
Grifols Worldwide Operations USA, Inc., Term Loan B, 3.16%, 2/27/21   2,094   2,074,180  
Mallinckrodt International Finance SA, Term Loan B, 3.50%, 3/19/21   791   783,732  
Par Pharmaceutical Cos., Inc., Term Loan B2, 4.00%, 9/30/19   1,646   1,621,767  
Pharmaceutical Product Development LLC, Term Loan B, 4.00%, 12/05/18   1,388   1,384,342  
Valeant Pharmaceuticals International, Inc., Term Loan B:          
  Series C2, 3.50%, 12/11/19   478   474,049  
  Series E, 3.50%, 8/05/20   721   715,478  
   
    9,188,293  
 
Professional Services — 0.7%  
Advantage Sales & Marketing, Inc.:          
  2014 1st Lien Term Loan, 4.25%, 7/23/21   469   465,347  
  2014 2nd Lien Term Loan, 7.50%, 7/25/22   605   600,462  
  Delayed Draw Term Loan, 4.25%, 7/23/21   16   15,512  
Emdeon Business Services LLC, Term Loan B2, 3.75%, 11/02/18   609   605,639  
Intertrust Group Holding BV, 2nd Lien Term Loan, 8.00%, 4/16/22   850   838,312  
SIRVA Worldwide, Inc., Term Loan, 7.50%, 3/27/19   1,054   1,046,045  
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
 
Professional Services (concluded)  
Truven Health Analytics, Inc., Term Loan B, 4.50%, 6/06/19 USD  1,163 $ 1,140,092  
   
    4,711,409  
 
Real Estate Management & Development — 0.6%  
CityCenter Holdings LLC, Term Loan B, 4.25%, 10/16/20   941   939,442  
DTZ US Borrower LLC, 1st Lien Term Loan, 5.50%, 11/04/21 (d)   717   719,932  
   Delayed Draw Term Loan, 5.50%, 11/04/21    428   429,473  
Realogy Corp. :          
  Extended Letter of Credit, 4.40%, 10/10/16   47   46,320  
  Term Loan B, 3.75%, 3/05/20   2,096   2,086,944  
   
    4,222,111  
 
Road & Rail — 0.2%  
Road Infrastructure Investment LLC:          
  1st Lien Term Loan, 4.25%, 3/31/21   1,010   975,002  
  2nd Lien Term Loan, 7.75%, 9/21/21   675   614,250  
   
    1,589,252  
 
Semiconductors & Semiconductor Equipment — 0.6%  
Avago Technologies Cayman Ltd., Term Loan B, 3.75%, 5/06/21   2,673   2,671,964  
Freescale Semiconductor, Inc.:          
  Term Loan B4, 4.25%, 2/28/20   718   711,282  
  Term Loan B5, 5.00%, 1/15/21   376   376,591  
   
    3,759,837  
 
Software — 1.5%  
Evertec Group LLC, Term Loan B, 3.50%, 4/17/20   459   450,771  
GCA Services Group, Inc.:          
  2nd Lien Term Loan, 9.25%, 10/22/20   560   558,600  
  Term Loan B, 4.25%, 11/01/19   541   537,139  
Infor US, Inc., Term Loan B5, 3.75%, 6/03/20   1,108   1,091,325  
IQOR US, Inc., Term Loan B, 6.00%, 4/01/21   610   577,975  
Kronos Worldwide, Inc., 2014 Term Loan, 4.75%, 2/18/20   234   233,825  
Kronos, Inc., 2nd Lien Term Loan, 9.75%, 4/30/20   1,837   1,891,632  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201418
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
Software (concluded)  
Mitchell International, Inc.:          
  1st Lien Term Loan, 4.50%, 10/12/20 USD  630 $ 628,857  
  2nd Lien Term Loan, 8.50%, 10/11/21   1,200   1,198,200  
Regit Eins GmbH, 1st Lien Term Loan, 6.00%, 1/08/21   845   825,706  
Sophia LP, 2014 Term Loan B, 4.00%, 7/19/18   817   812,572  
Tibco Software, Inc., Term Loan B, 1.00%, 11/04/20 (d)   150   146,876  
Websense, Inc., 2nd Lien Term Loan, 8.25%, 12/24/20   560   553,000  
   
    9,506,478  
 
Specialty Retail — 0.9%  
Academy Ltd., Term Loan, 4.50%, 8/03/18   1,452   1,448,966  
Michaels Stores, Inc., Incremental 2014 Term Loan B2, 4.00%, 1/28/20   1,197   1,191,518  
Party City Holdings, Inc., Term Loan, 4.00%, 7/27/19   2,431   2,403,834  
Petco Animal Supplies, Inc., Term Loan, 4.00%, 11/24/17   891   885,411  
Toys 'R' Us-Delaware, Inc.:          
  Term Loan B3, 5.25%, 5/25/18   59   44,941  
  Term Loan B4, 9.75%, 4/24/20   182   167,866  
   
    6,142,536  
 
Textiles, Apparel & Luxury Goods — 0.6%  
Ascend Performance Materials LLC, Term Loan B, 6.75%, 4/10/18   1,243   1,207,385  
J. Crew Group, Inc., Term Loan B, 4.00%, 3/05/21   1,036   983,573  
Nine West Holdings, Inc.:          
  Guarantee Term Loan, 6.25%, 1/08/20   555   508,519  
  Term Loan B, 4.75%, 10/08/19   439   421,344  
Polymer Group, Inc., 1st Lien Term Loan, 5.25%, 12/19/19   782   782,734  
   
    3,903,555  
 
Thrifts & Mortgage Finance — 0.1%  
IG Investment Holdings LLC, 1st Lien Term Loan, 5.25%, 10/31/19   855   851,305  
 
                   
Floating Rate Loan Interests (c) Par
(000)
  Value  
Wireless Telecommunication Services — 0.2%  
LTS Buyer LLC, 1st Lien Term Loan, 4.00%, 4/13/20 USD  1,531 $ 1,510,222  
 
Total Floating Rate Loan Interests43.8%   287,157,309  
 
 
   
Foreign Agency Obligations  
 
Cyprus Government International Bond, 4.63%, 2/03/20 EUR 2,600   3,139,537  
Iceland Government International Bond:          
  4.88%, 6/16/16 USD 580   606,779  
  5.88%, 5/11/22   3,030   3,410,571  
Portugal Obrigacoes do Tesouro OT, 4.45%, 6/15/18 (b) EUR 2,350   3,240,705  
 
Total Foreign Agency Obligations1.6%   10,397,592  
 
 
   
Non-Agency Mortgage-Backed Securities  
 
Collateralized Mortgage Obligations — 2.5%  
Countrywide Alternative Loan Trust, Series 2005-54CB, Class 3A4, 5.50%, 11/25/35 USD 5,016   4,550,652  
Countrywide Home Loan Mortgage Pass-Through Trust:          
  Series 2005-17, Class 1A6, 5.50%, 9/25/35   1,176   1,148,832  
  Series 2006-17, Class A2, 6.00%, 12/25/36   2,642   2,425,674  
  Series 2007-HY5, Class 3A1, 4.96%, 9/25/37 (c)   1,772   1,639,128  
GSR Mortgage Loan Trust, Series 2005-AR5, Class 2A3, 2.58%, 10/25/35 (c)   1,778   1,589,330  
Hilton USA Trust, Series 2013-HLT, Class EFX, 5.61%, 11/05/30 (b)(c)   4,162   4,273,613  
Morgan Stanley Reremic Trust, Series 2010-R4, Class 4A, REMIC, 0.46%, 2/26/37 (b)(c)   550   547,908  
   
    16,175,137  
 
Commercial Mortgage-Backed Securities — 8.1%  
Banc of America Commercial Mortgage Trust, Series 2007-4, Class A4, 5.95%, 2/10/51 (c)   1,674   1,838,914  
Commercial Mortgage Pass-Through Certificates (b):          
  Series 2013-LC13, Class D, 5.22%, 8/10/46   3,530   3,541,716  
  Series 2014-KYO, Class F, 3.66%, 6/11/27 (c)   1,855   1,846,662  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201419
 
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 (continued)  
Commercial Mortgage Pass-Through Certificates (b) (concluded):          
  Series 2014-PAT, Class E, 3.30%, 8/13/27 (c) USD  1,000 $ 991,285  
  Series 2014-PAT, Class F, 2.59%, 8/13/27 (c)   2,000   1,897,734  
Commercial Mortgage Trust, Series 2013-LC6:          
  Class B, 3.74%, 1/10/46   1,110   1,134,971  
  Class D, 4.43%, 1/10/46 (b)(c)   1,330   1,274,499  
Credit Suisse Commercial Mortgage Trust, Series 2006-C5, Class AM, 5.34%, 12/15/39   1,850   1,975,425  
Credit Suisse Mortgage Capital Certificates (c):          
  Series 2007-C2, Class A2, 5.45%, 1/15/49   5   4,989  
  Series 2007-C5, Class AAB, 5.62%, 9/15/40   1,044   1,099,160  
  Series 2014-SURF, Class E, 3.26%, 2/15/29 (b)   1,000   1,002,410  
Greenwich Capital Commercial Funding Corp., Series 2006-GG7, Class AM, 6.01%, 7/10/38 (c)   1,610   1,706,708  
GS Mortgage Securities Corp. II, Series 2013-GC10, Class B, 3.68%, 2/10/46 (b)   1,995   2,029,041  
GS Mortgage Securities Trust (c):          
  Series 2006-GG6, Class AM, 5.62%, 4/10/38   3,680   3,838,737  
  Series 2014-GSFL, Class D, 4.05%, 7/15/31 (b)   1,140   1,140,041  
JPMBB Commercial Mortgage Securities Trust, Series 2013-C15, Class D, 5.25%, 11/15/45 (b)(c)   1,400   1,410,844  
JPMorgan Chase Commercial Mortgage Securities Corp.:          
  Series 2004-LN2, Class A2, 5.12%, 7/15/41   204   205,105  
  Series 2007-CB18, Class A4, 5.44%, 6/12/47   2,035   2,187,820  
  Series 2007-CB19, Class A4, 5.89%, 2/12/49 (c)   2,140   2,323,578  
  Series 2012-LC9, Class XA, 2.08%, 12/15/47 (c)   14,781   1,401,832  
LB-UBS Commercial Mortgage Trust (c):          
  Series 2007-C2, Class AM, 5.49%, 2/15/40   2,500   2,650,413  
                   
Non-Agency Mortgage-Backed Securities Par
(000)
  Value  
Commercial Mortgage-Backed Securities (concluded)  
LB-UBS Commercial Mortgage Trust (c) (concluded):          
  Series 2007-C6, Class A4, 5.86%, 7/15/40 USD  4,451 $ 4,716,269  
Merrill Lynch Mortgage Trust, Series 2007-C1, Class A1A, 6.03%, 6/12/50 (c)   1,430   1,532,914  
Talisman Finance PLC, Series 6, Class A, 0.26%, 10/22/16 (c) EUR 1,435   1,744,281  
Titan Europe PLC, Series 2007-1X, Class A, 0.81%, 1/20/17 (c) GBP 2,548   3,781,285  
Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class A4, 6.14%, 2/15/51 (c) USD 2,024   2,174,621  
WF-RBS Commercial Mortgage Trust:          
  Series 2012-C8, Class B, 4.31%, 8/15/45   1,085   1,154,773  
  Series 2012-C8, Class C, 5.04%, 8/15/45 (c)   1,395   1,501,111  
  Series 2014-C20, Class XA, 1.40%, 5/15/47 (c)   14,908   1,149,867  
   
    53,257,005  
 
Interest Only Commercial Mortgage-Backed Securities — 0.3%  
WF-RBS Commercial Mortgage Trust, Series 2012-C9, Class XA, 2.38%, 11/15/45 (b)(c)   16,453   1,874,155  
 
Total Non-Agency Mortgage-Backed Securities10.9%   71,306,297  
 
 
   
U.S. Government Sponsored Agency Securities  
 
Collateralized Mortgage Obligations — 0.9%  
Freddie Mac Mortgage-Backed Securities:          
  Series 3986, Class M, REMIC, 4.50%, 9/15/41   2,298   2,499,875  
  Series K032, Class A2, 3.31%, 5/25/23 (c)   3,500   3,685,084  
   
    6,184,959  
 
Interest Only Collateralized Mortgage Obligations — 0.8%  
Fannie Mae Mortgage-Backed Securities, Series 2012-M9, Class X1, 4.21%, 12/25/17 (c)   19,176   1,879,236  
Freddie Mac Mortgage-Backed Securities, Class X1 (c):          
  Series K707, 1.69%, 12/25/18   42,477   2,323,811  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201420
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
U.S. Government Sponsored Agency Securities Par
(000)
  Value  
Mortgage-Backed Securities — 3.4%  
Freddie Mac Mortgage-Backed Securities, Class X1 (c) (concluded):          
  Series K710, 1.91%, 5/25/19 USD 13,214 $ 895,671  
   
    5,098,718  
 
Fannie Mae Mortgage-Backed Securities (k):          
  3.50%, 8/01/26   7,045   7,495,771  
  5.00%, 7/01/20 - 8/01/23   5,080   5,460,341  
Freddie Mac Mortgage-Backed Securities, 4.50%, 4/01/25 (e)(k)   8,416   9,034,383  
   
    21,990,495  
 
Total U.S. Government Sponsored Agency Securities5.1%   33,274,172  
 
 
   
Other Interests (l) 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 — 0.0%  
JG Wentworth LLC Preferred Equity, (Acquired 11/18/13, cost $969,589) (a)(m)   14   135,393  
 
Total Other Interests0.0%   144,143  
 
 
   
Preferred Securities  
 
Capital Trusts Par
(000)
     
 
Banks — 0.5%  
Wachovia Capital Trust III, 5.57% (c)(e)(n)   3,365   3,255,638  
 
Capital Markets — 0.5%  
Credit Suisse Group AG, 6.25% (b)(c)(e)(n)   1,445   1,405,262  
The Goldman Sachs Group, Inc., Series L, 5.70% (c)(n)   1,920   1,963,200  
   
    3,368,462  
 
Diversified Financial Services — 4.3%  
Bank of America Corp., Series U, 5.20% (c)(e)(n)   1,250   1,146,250  
                   
Capital Trusts Par
(000)
  Value  
 
Diversified Financial Services (concluded)  
Bank of America Corp., Series V, 5.13% (c)(e)(n)   3,470 $ 3,357,225  
Citigroup, Inc., 5.90% (c)(e)(n)   5,000   4,962,500  
Citigroup, Inc., 5.95% (c)(e)(n)   1,370   1,363,150  
JPMorgan Chase & Co., Series U, 6.13% (c)(e)(n)   6,690   6,765,262  
JPMorgan Chase & Co., Series V, 5.00% (c)(e)(n)   3,000   2,946,000  
Macquarie Bank Ltd., 10.25%, 6/20/57 (c)   1,450   1,639,588  
Morgan Stanley, Series H, 5.45% (c)(e)(n)   1,426   1,436,695  
Societe Generale SA, 6.00% (b)(c)(e)(n)   4,825   4,555,765  
   
    28,172,435  
 
Diversified Telecommunication Services — 0.1%  
Telefonica Europe BV, 4.20 (c)(d)(n)   200   250,157  
 
Insurance — 3.4%  
The Allstate Corp., 6.13%, 5/15/67 (c)(e)   3,000   3,187,500  
AXA SA, 6.46% (b)(c)(e)(n)   1,625   1,690,000  
Genworth Holdings, Inc., 6.15%, 11/15/66 (c)   1,850   1,225,625  
Hartford Financial Services Group, Inc., 8.13%, 6/15/68 (c)(e)   2,500   2,862,500  
Liberty Mutual Group, Inc., 7.00%, 3/07/67 (b)(c)(e)   1,575   1,622,250  
Liberty Mutual Group, Inc., 7.80%, 3/07/87 (b)(c)(e)   1,500   1,758,750  
Prudential Financial, Inc., 5.63%, 6/15/43 (c)(e)   3,250   3,355,625  
Swiss Re Capital I LP, 6.85% (b)(c)(e)(n)   3,000   3,172,500  
Voya Financial, Inc., 5.65%, 5/15/53 (c)(e)   3,500   3,491,250  
   
    22,366,000  
 
Total Capital Trusts8.8%   57,412,692  
 
Preferred Stocks
Shares
     
 
Capital Markets — 0.9%  
The Goldman Sachs Group, Inc., Series J, 5.50% (c)(n)   202,526   4,895,053  
Orange SA, 4.00% (c)(n)   200,000   255,945  
SCE Trust III, 5.75% (c)(n)   21,200   572,400  
   
    5,723,398  
 
Diversified Financial Services  — 0.5%  
Ally Financial, Inc., Series A, 8.50% (c)(n)   8,657   229,757  


BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201421
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
  (Percentages shown are based on Net Assets)
                   
Preferred Stocks
Shares
  Value  
Diversified Financial Services (concluded)  
Morgan Stanley, 6.88% (c)   120,000 $ 3,231,600  
   
    3,461,357  
 
Total Preferred Stocks1.4%   9,184,755  
 
 
   
Trust Preferred — 0.5%        
 
Diversified Financial Services — 0.5%  
GMAC Capital Trust I, Series 2, 8.13% (c)   124,413 $ 3,278,248  
 
Total Preferred Securities10.7%   69,875,695  
 
 
   
Warrants (o)        
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   15,078  
 
Total Long-Term Investments
(Cost — $943,323,267) — 143.7%
  941,345,034  
 
                   
Short-Term Securities
Shares
  Value  
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.07% (p)(q)   1,519,494 $ 1,519,494  
 
Total Short-Term Securities
(Cost — $1,519,494) — 0.2%
  1,519,494  
 
Options Purchased
(Cost — $44,978) — 0.0%
   
 
Total Investments
(Cost — $945,309,189*) — 143.9%
  942,864,528  
Liabilities in Excess of Other Assets(43.9)%   (287,863,457)  
   
Net Assets100.0% $ 655,001,071  
   
* As of November 30, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 
Tax cost $ 948,794,314  
   
Gross unrealized appreciation $ 20,500,381  
Gross unrealized depreciation   (26,430,167)  
   
Net unrealized appreciation $ (5,929,786)  
   
       
 
       
 
 



 

Notes to Schedule of Investments

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

 

 
Counterparty  Value  Unrealized
Appreciation/
(Depreciation)
 
Bank of America N.A  $1,866,845   $38,845 
Barclays Capital, Inc.   1,344,415    (2,776)
Citigroup Global Markets, Inc.   4,447,046    10,524 
Credit Suisse Securities (USA) LLC   3,461,863    3,952 
Deutsche Bank Securities, Inc.   1,233,750    —   
JPMorgan Chase Bank N.A.   1,057,822    9,871 
Jefferies Co.   1,910,000    —   
Robert W. Baird & Co., Inc.   49,875    (125)
           
           
           
BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201422
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
   

 

(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) Represents or includes a TBA transaction. Unsettled TBA transactions as of November 30, 2014 were as follows:

 

 
Counterparty  Value  Unrealized
Appreciation/Depreciation
 
J.P. Morgan Securities LLC  $7,495,771   $159,201 
J.P. Morgan Securities LLC  $4,467,747   $78,699 
J.P. Morgan Securities LLC  $992,594   $25,482 
Wells Fargo Securities LLC  $9,034,383   $366,625 
           

 

(l) Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.
(m) Restricted security as to resale. As of report date, the Fund held restricted securities with a current value of $191,682 and an original cost of $969,589 which was less than 0.05% of its net assets.
(n) Security is perpetual in nature and has no stated maturity date.
(o) Warrants entitle the Fund to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date, if any.
(p) Investments in issuers considered to be an affiliate of the Fund during the period ended November 30, 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, 2014
  Net
Activity
  Shares
Held at
November 30, 2014
  Income  
 
  BlackRock Liquidity Funds, TempFund, Institutional Class   7,390,390   (5,870,896)   1,519,494 $ 803  
                     
 

 

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

 

Portfolio Abbreviations

   
ABS Asset-Backed Security
ADS American Depositary Shares
CAD Canadian Dollar
CLO Collateralized Loan Obligation
CR Custodian Receipt
DIP Debtor-In-Possession
EUR Euro
GBP British Pound
MSCI Morgan Stanley Capital International
OTC Over-the-Counter
PIK Payment-In-Kind.
REMIC Real Estate Mortgage Investment Conduit
SGD Singapore Dollar
USD U.S. Dollar
VA Department of Veterans Affairs
     

 

BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201423
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
   

 



Reverse repurchase agreements outstanding as of November 30, 2014 were as follows:
 
 

 

Counterparty Interest
Rate
Trade
Date
Maturity
Date1
  Face Value   Face Value
Including
Accrued
Interest
 
 
Barclays Capital, Inc. 0.35% 2/28/2014 Open $ 3,202,000 $ 3,210,561  
Barclays Capital, Inc. 0.35% 2/28/2014 Open   3,109,000   3,117,312  
Barclays Capital, Inc. 0.35% 2/28/2014 Open   1,929,000   1,934,157  
Deutsche Bank Securities, Inc. 0.55% 2/28/2014 Open   1,073,000   1,077,508  
Deutsche Bank Securities, Inc. 0.55% 2/28/2014 Open   474,000   475,991  
Deutsche Bank Securities, Inc. 0.55% 3/10/2014 Open   349,000   350,413  
HSBC Securities (USA), Inc. 0.38% 3/10/2014 Open   6,339,571   6,357,305  
Deutsche Bank Securities, Inc. 0.55% 4/16/2014 Open   1,000,000   1,003,483  
Deutsche Bank Securities, Inc. 0.55% 4/16/2014 Open   2,100,000   2,107,315  
Deutsche Bank Securities, Inc. 0.55% 4/16/2014 Open   1,300,000   1,304,528  
Deutsche Bank Securities, Inc. 0.55% 4/16/2014 Open   2,000,000   2,006,967  
Deutsche Bank Securities, Inc. 0.55% 4/16/2014 Open   1,200,000   1,204,180  
Deutsche Bank Securities, Inc. 0.55% 4/16/2014 Open   600,000   602,090  
Deutsche Bank Securities, Inc. 0.55% 4/16/2014 Open   100,000   100,348  
Deutsche Bank Securities, Inc. 0.58% 4/16/2014 Open   1,500,000   1,505,225  
Deutsche Bank Securities, Inc. 0.58% 4/16/2014 Open   500,000   501,837  
Deutsche Bank Securities, Inc. 0.58% 4/16/2014 Open   500,000   501,837  
Deutsche Bank Securities, Inc. 0.58% 4/16/2014 Open   500,000   501,837  
Deutsche Bank Securities, Inc. 0.58% 4/16/2014 Open   500,000   501,837  
Deutsche Bank Securities, Inc. 0.58% 4/16/2014 Open   1,600,000   1,605,877  
Deutsche Bank Securities, Inc. 0.58% 4/16/2014 Open   1,500,000   1,505,225  
Deutsche Bank Securities, Inc. 0.58% 4/16/2014 Open   500,000   501,837  
Barclays Capital, Inc. 0.60% 4/17/2014 Open   611,000   613,312  
Barclays Capital, Inc. 0.60% 4/17/2014 Open   1,633,000   1,639,178  
Barclays Capital, Inc. 0.60% 4/17/2014 Open   278,000   279,052  
Barclays Capital, Inc. 0.60% 4/17/2014 Open   960,000   963,632  
Barclays Capital, Inc. 0.60% 4/17/2014 Open   502,000   503,899  
Deutsche Bank Securities, Inc. 0.55% 4/21/2014 Open   1,539,000   1,544,243  
Deutsche Bank Securities, Inc. 0.55% 4/21/2014 Open   899,000   902,063  
Deutsche Bank Securities, Inc. 0.55% 4/21/2014 Open   593,000   595,020  
Deutsche Bank Securities, Inc. 0.55% 4/21/2014 Open   768,000   770,617  
Deutsche Bank Securities, Inc. 0.55% 4/21/2014 Open   2,075,000   2,082,069  
Deutsche Bank Securities, Inc. 0.55% 4/21/2014 Open   848,000   850,889  
Deutsche Bank Securities, Inc. 0.58% 4/21/2014 Open   200,000   200,719  
Deutsche Bank Securities, Inc. 0.58% 4/21/2014 Open   142,000   142,510  
Deutsche Bank Securities, Inc. 0.58% 4/21/2014 Open   705,000   707,533  
Deutsche Bank Securities, Inc. 0.58% 4/21/2014 Open   467,000   468,678  
Deutsche Bank Securities, Inc. 0.58% 4/21/2014 Open   1,180,000   1,184,239  
HSBC Securities (USA), Inc. 0.55% 5/9/2014 Open   1,125,643   1,129,169  
Deutsche Bank Securities, Inc. 0.55% 5/13/2014 Open   412,000   413,265  
Deutsche Bank Securities, Inc. 0.58% 5/13/2014 Open   580,000   581,878  
Deutsche Bank Securities, Inc. 0.58% 5/13/2014 Open   2,227,000   2,234,212  
Deutsche Bank Securities, Inc. 0.58% 5/13/2014 Open   2,194,000   2,201,105  

 

BLACKROCK LIMITED DURATION INCOME TRUSTNOVEMBER 30, 201424
 
Schedule of Investments (continued) BlackRock Limited Duration Income Trust (BLW)
   

 



Reverse repurchase agreements outstanding as of November 30, 2014 were as follows (continued):
 
 

 

Counterparty Interest
Rate
Trade
Date
Maturity
Date1
  Face Value   Face Value
Including
Accrued
Interest
 
 
Deutsche Bank Securities, Inc. 0.58% 5/13/2014