SEPTEMBER 30, 2021
2021 Quarterly Report (Unaudited)
BlackRock Debt Strategies Fund, Inc. (DSU)
Not FDIC Insured • May Lose Value • No Bank Guarantee
BNM1121U-1931737-5949810
Schedule of Investments (unaudited)
September 30, 2021
Par | ||
Security | (000) | Value |
Asset-Backed Securities
Unique Pub Finance Co. PLC, Series N, 6.46%, | ||||
03/30/32(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | GBP | 100 | $ | 161,656 |
Total Asset-Backed Securities - 0.0% | ||||
(Cost: $145,035). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | . . . . . . . . . . . . . . . . . . . | 161,656 | ||
Shares | ||||
Common Stocks | ||||
Construction & Engineering - 0.0% | ||||
McDermott International Ltd.(b) . . . . . . . . . . . . . . . . . . . . | 141,483 | 70,741 | ||
Diversified Financial Services - 0.0% | ||||
Kcad Holdings I Ltd.(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1,075,282,733 | 10,753 | ||
Energy Equipment & Services - 0.0% | ||||
Pioneer Energy Services Corp. . . . . . . . . . . . . . . . . . . . . | 809 | 12,588 | ||
Metals & Mining - 0.0% | ||||
Ameriforge Group, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1,664 | 2,498 | ||
Preferred Proppants LLC(c) . . . . . . . . . . . . . . . . . . . . . . . . | 14,576 | 945 | ||
3,443 | ||||
Oil, Gas & Consumable Fuels - 0.2% | ||||
California Resources Corp.(b) . . . . . . . . . . . . . . . . . . . . . . | 2,336 | 95,776 | ||
Chesapeake Energy Corp. . . . . . . . . . . . . . . . . . . . . . . . . | 10,267 | 632,345 | ||
Extraction Oil & Gas, Inc., (Acquired 03/05/21, | ||||
Cost: $32,685)(d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2,622 | 148,012 | ||
SM Energy Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1,580 | 41,680 | ||
917,813 | ||||
Semiconductors & Semiconductor Equipment(b) - 0.0% | ||||
Maxeon Solar Technologies Ltd. . . . . . . . . . . . . . . . . . . . | 213 | 3,755 | ||
SunPower Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1,707 | 38,715 | ||
42,470 | ||||
Software - 0.0% | ||||
Avaya Holdings Corp.(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . | 40 | 792 | ||
Specialty Retail - 0.0% | ||||
NMG Parent LLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1,477 | 190,780 | ||
Total Common Stocks - 0.2% | ||||
(Cost: $16,069,556) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | . . . . . . . . . . . . . . . . . . . | 1,249,380 | ||
Par | ||||
(000) | ||||
Corporate Bonds | ||||
Aerospace & Defense - 0.6% | ||||
Bombardier, Inc.(e) | ||||
7.50%, 12/01/24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 78 | 81,120 | |
7.50%, 03/15/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 14 | 14,297 | ||
7.13%, 06/15/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 204 | 214,200 | ||
7.88%, 04/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 17 | 17,624 | ||
6.00%, 02/15/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 112 | 113,260 | ||
F-BrasileSpA/F-Brasile US LLC, Series XR, 7.38%, | ||||
08/15/26(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 200 | 206,000 | ||
Rolls-Royce PLC, 5.75%, 10/15/27(e) . . . . . . . . . . . . . . | 200 | 221,000 | ||
Spirit AeroSystems, Inc., 5.50%, 01/15/25(e) . . . . . . . . | 58 | 61,335 | ||
TransDigm, Inc. | ||||
8.00%, 12/15/25(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 656 | 699,460 | ||
6.25%, 03/15/26(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1,073 | 1,118,602 |
1
BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets)
Par | ||||
Security | (000) | Value | ||
Aerospace & Defense (continued) | ||||
TransDigm, Inc. (continued) | ||||
6.38%, 06/15/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 29 | $ | 29,918 |
7.50%, 03/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 33 | 34,568 | ||
4.63%, 01/15/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 85 | 84,852 | ||
4.88%, 05/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 96 | 96,179 | ||
Triumph Group, Inc., 8.88%, 06/01/24(e). . . . . . . . . . . . | 245 | 269,500 | ||
3,261,915 | ||||
Airlines - 0.7% | ||||
Air Canada, 3.88%, 08/15/26(e) . . . . . . . . . . . . . . . . . . . . | 134 | 135,213 | ||
Air France-KLM, 3.88%, 07/01/26(a). . . . . . . . . . . . . . . . | EUR | 100 | 114,985 | |
Allegiant Travel Co., 8.50%, 02/05/24(e) . . . . . . . . . . . . | USD | 1,065 | 1,153,190 | |
American Airlines, Inc., 11.75%, 07/15/25(e) . . . . . . . . | 279 | 345,262 | ||
American Airlines, Inc./AAdvantage Loyalty IP | ||||
Ltd.(e) | ||||
5.50%, 04/20/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 158 | 165,793 | ||
5.75%, 04/20/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 302 | 325,484 | ||
Delta Air Lines, Inc./SkyMiles IP Ltd., 4.75%, | ||||
10/20/28(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 265 | 295,475 | ||
Deutsche Lufthansa AG, 3.75%, 02/11/28(a) . . . . . . . . | EUR | 100 | 121,634 | |
Hawaiian Brand Intellectual Property | ||||
Ltd./HawaiianMiles Loyalty Ltd., 5.75%, | ||||
01/20/26(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 101 | 105,671 | |
Mileage Plus Holdings LLC/Mileage Plus | ||||
Intellectual Property Assets Ltd., 6.50%, | ||||
06/20/27(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 274 | 297,953 | ||
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., | ||||
8.00%, 09/20/25(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 13 | 14,972 | ||
United Airlines Pass-Through Trust | ||||
Series 2020-1, Class A, 5.88%, 10/15/27 . . . . . . . . | 263 | 294,759 | ||
Series 2020-1, Class B, 4.88%, 07/15/27 . . . . . . . . | 19 | 19,786 | ||
United Airlines, Inc.(e) | ||||
4.38%, 04/15/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 146 | 149,832 | ||
4.63%, 04/15/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 133 | 137,449 | ||
3,677,458 | ||||
Auto Components - 0.4% | ||||
Clarios Global LP, 6.75%, 05/15/25(e) . . . . . . . . . . . . . . | 721 | 760,655 | ||
Clarios Global LP/Clarios US Finance Co. | ||||
4.38%, 05/15/26(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | EUR | 100 | 119,746 | |
6.25%, 05/15/26(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 110 | 115,571 | |
8.50%, 05/15/27(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 611 | 649,951 | ||
Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28(e) . | 25 | 26,173 | ||
Dornoch Debt Merger Sub, Inc., 6.63%, | ||||
10/15/29(e)(f) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 36 | 36,000 | ||
Goodyear Tire & Rubber Co. | ||||
9.50%, 05/31/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 65 | 71,337 | ||
5.00%, 07/15/29(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 42 | 44,572 | ||
5.25%, 07/15/31(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 103 | 109,695 | ||
5.63%, 04/30/33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 102 | 111,180 | ||
Meritor, Inc., 4.50%, 12/15/28(e) . . . . . . . . . . . . . . . . . . . | 24 | 24,060 | ||
Tenneco, Inc., 7.88%, 01/15/29(e) . . . . . . . . . . . . . . . . . . | 18 | 20,093 | ||
Titan International, Inc., 7.00%, 04/30/28(e) . . . . . . . . . | 18 | 18,968 | ||
Venture Holdings Co. LLC, 12.00%, 07/01/49(b)(c)(g). | 5,150 | 1 | ||
2,108,002 | ||||
Automobiles - 0.4% | ||||
Allison Transmission, Inc.(e) | ||||
5.88%, 06/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 113 | 122,950 | ||
3.75%, 01/30/31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 115 | 111,837 | ||
Asbury Automotive Group, Inc. | ||||
4.50%, 03/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 35 | 35,919 |
BNM1121U-1931737-5949810
Schedule of Investments (unaudited) (continued) September 30, 2021
Par | ||||
Security | (000) | Value | ||
Automobiles (continued) | ||||
Asbury Automotive Group, Inc. (continued) | ||||
4.75%, 03/01/30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 73 | $ | 76,194 |
Carvana Co.(e) | ||||
5.50%, 04/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 92 | 93,904 | ||
4.88%, 09/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 72 | 71,301 | ||
Constellation Automotive Financing PLC, 4.88%, | ||||
07/15/27(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | GBP | 100 | 133,676 | |
Ford Motor Co. | ||||
4.35%, 12/08/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 9 | 9,585 | |
4.75%, 01/15/43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 176 | 184,471 | ||
5.29%, 12/08/46 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 78 | 86,872 | ||
Ford Motor Credit Co. LLC | ||||
3.81%, 01/09/24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 200 | 206,500 | ||
4.69%, 06/09/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 200 | 214,000 | ||
5.13%, 06/16/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 200 | 217,250 | ||
4.00%, 11/13/30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 200 | 208,000 | ||
Group 1 Automotive, Inc., 4.00%, 08/15/28(e) . . . . . . . | 15 | 15,263 | ||
Ken Garff Automotive LLC, 4.88%, 09/15/28(e). . . . . . | 39 | 40,073 | ||
LCM Investments Holdings II LLC, 4.88%, | ||||
05/01/29(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 93 | 95,425 | ||
Lithia Motors, Inc., 3.88%, 06/01/29(e) . . . . . . . . . . . . . . | 42 | 43,594 | ||
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(e) . . . . | 33 | 31,893 | ||
Penske Automotive Group, Inc. | ||||
3.50%, 09/01/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 62 | 63,782 | ||
3.75%, 06/15/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 22 | 22,124 | ||
Wabash National Corp., 4.50%, 10/15/28(e)(f) . . . . . . . | 70 | 69,912 | ||
2,154,525 | ||||
Banks - 0.1% | ||||
American Finance Trust, Inc./American Finance | ||||
Operating Partner LP, 4.50%, 09/30/28(e)(f) . . . . . . | 21 | 21,000 | ||
Banca Monte dei Paschi di Siena SpA, 2.63%, | ||||
04/28/25(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | EUR | 100 | 118,438 | |
Banco Espirito Santo SA(b)(g) | ||||
4.75%, 01/15/22(h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 200 | 33,592 | ||
4.00%, 01/21/22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 100 | 16,796 | ||
2.63%, 05/08/49(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 100 | 16,796 | ||
Wells Fargo & Co., (5 year CMT + 3.45%), | ||||
3.90%(h)(i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 115 | 118,594 | |
325,216 | ||||
Beverages - 0.4% | ||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), | ||||
6.50%, 06/30/27(e)(j) . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 441 | 468,496 | ||
Ardagh Metal Packaging Finance USA LLC/Ardagh | ||||
Metal Packaging Finance PLC, 4.00%, | ||||
09/01/29(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 285 | 288,206 | ||
Ardagh Packaging Finance PLC/Ardagh Holdings | ||||
USA, Inc., 5.25%, 08/15/27(e) . . . . . . . . . . . . . . . . . . . | 208 | 211,745 | ||
Ball Corp., 3.13%, 09/15/31 . . . . . . . . . . . . . . . . . . . . . . . | 131 | 129,373 | ||
Triton Water Holdings, Inc., 6.25%, 04/01/29(e) . . . . . | 362 | 367,883 | ||
Trivium Packaging Finance BV, 8.50%, 08/15/27(e) . | 814 | 874,032 | ||
2,339,735 | ||||
Biotechnology - 0.0% | ||||
Cidron Aida Finco Sarl, 5.00%, 04/01/28(a) . . . . . . . . . | EUR | 100 | 116,688 | |
Emergent BioSolutions, Inc., 3.88%, 08/15/28(e) . . . . | USD | 25 | 24,313 | |
HCRX Investments Holdco LP, 4.50%, 08/01/29(e) . . | 42 | 42,210 | ||
183,211 | ||||
Building Materials - 0.2% | ||||
APi Group DE, Inc., 4.13%, 07/15/29(e) . . . . . . . . . . . . | 42 | 41,154 |
S C H E D U L E O F I N V E S T M E N T S
BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets)
Par | |||||
Security | (000) | Value | |||
Building Materials (continued) | |||||
Cornerstone Building Brands, Inc., 6.13%, | |||||
01/15/29(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 104 | $ | 110,549 | |
CP Atlas Buyer, Inc., 7.00%, 12/01/28(e). . . . . . . . . . . . | 89 | 89,222 | |||
Forterra Finance LLC/FRTA Finance Corp., 6.50%, | |||||
07/15/25(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 42 | 44,940 | |||
Griffon Corp., 5.75%, 03/01/28 . . . . . . . . . . . . . . . . . . . . | 16 | 16,800 | |||
Jeld-Wen, Inc.(e) | |||||
4.63%, 12/15/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 32 | 32,491 | |||
4.88%, 12/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 10 | 10,420 | |||
Masonite International Corp.(e) | |||||
3.50%, 02/15/30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 69 | 68,482 | |||
Class C, 5.38%, 02/01/28. . . . . . . . . . . . . . . . . . . . . . . | 45 | 47,385 | |||
New Enterprise Stone & Lime Co., Inc., 9.75%, | |||||
07/15/28(e)(f) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 38 | 41,325 | |||
Patrick Industries, Inc., 4.75%, 05/01/29(e) . . . . . . . . . | 20 | 20,400 | |||
SRM Escrow Issuer LLC, 6.00%, 11/01/28(e) . . . . . . . | 200 | 211,750 | |||
Standard Industries, Inc.(e) | |||||
5.00%, 02/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 34 | 35,063 | |||
4.38%, 07/15/30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 85 | 86,700 | |||
3.38%, 01/15/31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 101 | 96,122 | |||
Summit Materials LLC/Summit Materials Finance | |||||
Corp., 5.25%, 01/15/29(e) . . . . . . . . . . . . . . . . . . . . . . . | 168 | 176,400 | |||
Victors Merger Corp., 6.38%, 05/15/29(e) . . . . . . . . . . . | 51 | 48,833 | |||
1,178,036 | |||||
Building Products(e) - 0.2% | |||||
BCPE Ulysses Intermediate, Inc., (7.75% Cash or | |||||
8.50% PIK), 7.75%, 04/01/27(j) . . . . . . . . . . . . . . . . . . | 18 | 17,865 | |||
Beacon Roofing Supply, Inc., 4.13%, 05/15/29 . . . . . | 32 | 31,800 | |||
Foundation Building Materials, Inc., 6.00%, | |||||
03/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 61 | 59,780 | |||
GYP Holdings III Corp., 4.63%, 05/01/29 . . . . . . . . . . . | 76 | 76,855 | |||
LBM Acquisition LLC, 6.25%, 01/15/29. . . . . . . . . . . . . | 154 | 153,923 | |||
LSF11 A5 HoldCo LLC, 6.63%, 10/15/29(f) . . . . . . . . . | 36 | 36,000 | |||
Specialty Building Products Holdings LLC/SBP | |||||
Finance Corp., 6.38%, 09/30/26. . . . . . . . . . . . . . . . . | 93 | 97,650 | |||
SRS Distribution, Inc. | |||||
4.63%, 07/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 139 | 141,808 | |||
6.13%, 07/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 111 | 114,330 | |||
White Cap Buyer LLC, 6.88%, 10/15/28 . . . . . . . . . . . . | 207 | 218,385 | |||
White Cap Parent LLC, (8.25% PIK), 8.25%, | |||||
03/15/26(j) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 67 | 69,177 | |||
1,017,573 | |||||
Capital Markets - 0.3% | |||||
Aretec Escrow Issuer, Inc., 7.50%, 04/01/29(e). . . . . . | 36 | 37,080 | |||
Charles Schwab Corp., Series H, (10 year CMT + | |||||
3.08%), 4.00%(h)(i). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 265 | 273,347 | |||
Compass Group Diversified Holdings LLC, 5.25%, | |||||
04/15/29(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 68 | 71,145 | |||
Icahn Enterprises LP/Icahn Enterprises Finance | |||||
Corp. | |||||
4.75%, 09/15/24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 101 | 105,040 | |||
5.25%, 05/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 221 | 229,287 | |||
4.38%, 02/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 87 | 86,891 | |||
NFP Corp.(e) | |||||
4.88%, 08/15/28(f) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 138 | 140,346 | |||
6.88%, 08/15/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 374 | 381,873 | |||
Owl Rock Technology Finance Corp., 3.75%, | |||||
06/17/26(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 40 | 42,228 | |||
RP Escrow Issuer LLC, 5.25%, 12/15/25(e) . . . . . . . . . | 50 | 51,438 | |||
1,418,675 |
2
BNM1121U-1931737-5949810
Schedule of Investments (unaudited) (continued) September 30, 2021
Par | ||||
Security | (000) | Value | ||
Chemicals - 0.4% | ||||
Ashland LLC, 3.38%, 09/01/31(e) . . . . . . . . . . . . . . . . . . | USD | 112 | $ | 112,980 |
Axalta Coating Systems LLC, 3.38%, 02/15/29(e) . . . | 150 | 145,875 | ||
Chemours Co., 5.75%, 11/15/28(e) . . . . . . . . . . . . . . . . . | 38 | 39,794 | ||
Diamond (BC) BV, 4.63%, 10/01/29(e) . . . . . . . . . . . . . . | 85 | 86,275 | ||
Element Solutions, Inc., 3.88%, 09/01/28(e). . . . . . . . . | 402 | 406,020 | ||
GCP Applied Technologies, Inc., 5.50%, | ||||
04/15/26(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 134 | 137,015 | ||
HB Fuller Co., 4.25%, 10/15/28 . . . . . . . . . . . . . . . . . . . . | 31 | 31,543 | ||
Herens Holdco Sarl, 4.75%, 05/15/28(e) . . . . . . . . . . . . | 200 | 201,000 | ||
Herens Midco Sarl, 5.25%, 05/15/29(a) . . . . . . . . . . . . . | EUR | 100 | 112,360 | |
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., | ||||
9.00%, 07/01/28(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 181 | 199,552 | |
Ingevity Corp., 3.88%, 11/01/28(e). . . . . . . . . . . . . . . . . . | 23 | 22,943 | ||
Minerals Technologies, Inc., 5.00%, 07/01/28(e). . . . . | 55 | 57,062 | ||
SCIH Salt Holdings, Inc.(e) | ||||
4.88%, 05/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 82 | 82,410 | ||
6.63%, 05/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 57 | 54,720 | ||
Scotts Miracle-Gro Co.(e) | ||||
4.00%, 04/01/31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 83 | 82,844 | ||
4.38%, 02/01/32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 8 | 8,065 | ||
WESCO Distribution, Inc.(e) | ||||
7.13%, 06/15/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 49 | 52,289 | ||
7.25%, 06/15/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 146 | 161,695 | ||
WR Grace Holdings LLC, 5.63%, 08/15/29(e) . . . . . . . | 301 | 310,033 | ||
2,304,475 | ||||
Commercial Services & Supplies - 0.2% | ||||
AMN Healthcare, Inc., 4.00%, 04/15/29(e) . . . . . . . . . . | 28 | 28,840 | ||
APX Group, Inc., 5.75%, 07/15/29(e) . . . . . . . . . . . . . . . | 86 | 84,886 | ||
ASGN, Inc., 4.63%, 05/15/28(e) . . . . . . . . . . . . . . . . . . . . | 79 | 81,765 | ||
Avis Budget Car Rental LLC/Avis Budget Finance, | ||||
Inc., 5.38%, 03/01/29(e) . . . . . . . . . . . . . . . . . . . . . . . . . | 33 | 34,878 | ||
EC Finance PLC, 3.00%, 10/15/26(a)(f) . . . . . . . . . . . . . | EUR | 100 | 116,484 | |
Fortress Transportation & Infrastructure Investors | ||||
LLC(e) | ||||
6.50%, 10/01/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 24 | 24,705 | |
9.75%, 08/01/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 17 | 19,252 | ||
5.50%, 05/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 98 | 98,659 | ||
Herc Holdings, Inc., 5.50%, 07/15/27(e) . . . . . . . . . . . . | 106 | 111,218 | ||
Metis Merger Sub LLC, 6.50%, 05/15/29(e) . . . . . . . . . | 68 | 66,130 | ||
NESCO Holdings II, Inc., 5.50%, 04/15/29(e) . . . . . . . | 77 | 79,864 | ||
Prime Security Services Borrower LLC/Prime | ||||
Finance, Inc.(e) | ||||
3.38%, 08/31/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2 | 1,919 | ||
6.25%, 01/15/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 110 | 113,716 | ||
Team Health Holdings, Inc., 6.38%, 02/01/25(e) . . . . . | 103 | 99,537 | ||
United Rentals North America, Inc., 5.25%, | ||||
01/15/30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2 | 2,190 | ||
964,043 | ||||
Communications Equipment(e) - 0.2% | ||||
Avaya, Inc., 6.13%, 09/15/28 . . . . . . . . . . . . . . . . . . . . . . | 245 | 257,610 | ||
CommScope Technologies LLC, 6.00%, 06/15/25 . . | 94 | 95,175 | ||
CommScope, Inc. | ||||
6.00%, 03/01/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 24 | 24,920 | ||
8.25%, 03/01/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 12 | 12,561 | ||
7.13%, 07/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 110 | 112,252 | ||
4.75%, 09/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 161 | 160,799 |
BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets)
Par | ||||
Security | (000) | Value | ||
Communications Equipment (continued) | ||||
ViaSat, Inc. | ||||
5.63%, 04/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 38 | $ | 39,615 |
6.50%, 07/15/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 150 | 157,983 | ||
Viavi Solutions, Inc., 3.75%, 10/01/29 . . . . . . . . . . . . . . | 93 | 93,204 | ||
954,119 | ||||
Construction Materials(e) - 0.1% | ||||
American Builders & Contractors Supply Co., Inc. | ||||
4.00%, 01/15/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 125 | 127,656 | ||
3.88%, 11/15/29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 14 | 13,961 | ||
BCPE Empire Holdings, Inc., 7.63%, 05/01/27. . . . . . | 35 | 34,825 | ||
H&E Equipment Services, Inc., 3.88%, 12/15/28. . . . | 20 | 19,922 | ||
IAA, Inc., 5.50%, 06/15/27. . . . . . . . . . . . . . . . . . . . . . . . . | 159 | 166,155 | ||
New Enterprise Stone & Lime Co., Inc., 5.25%, | ||||
07/15/28(f) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 26 | 26,292 | ||
Picasso Finance Sub, Inc., 6.13%, 06/15/25. . . . . . . . | 82 | 86,706 | ||
Williams Scotsman International, Inc., 4.63%, | ||||
08/15/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 77 | 80,212 | ||
Winnebago Industries, Inc., 6.25%, 07/15/28 . . . . . . . | 45 | 48,375 | ||
Wolverine Escrow LLC, 9.00%, 11/15/26 . . . . . . . . . . . | 136 | 125,630 | ||
729,734 | ||||
Consumer Discretionary(e) - 0.4% | ||||
Carnival Corp. | ||||
10.50%, 02/01/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 224 | 259,885 | ||
5.75%, 03/01/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 230 | 237,762 | ||
9.88%, 08/01/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 92 | 106,178 | ||
4.00%, 08/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 317 | 320,170 | ||
CoreLogic, Inc., 4.50%, 05/01/28 . . . . . . . . . . . . . . . . . . | 113 | 112,294 | ||
Legends Hospitality Holding Co. LLC/Legends | ||||
Hospitality Co-Issuer, Inc., 5.00%, 02/01/26 . . . . . | 52 | 53,300 | ||
Life Time, Inc. | ||||
5.75%, 01/15/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 80 | 82,800 | ||
8.00%, 04/15/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 57 | 60,420 | ||
NCL Corp. Ltd. | ||||
10.25%, 02/01/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 37 | 42,458 | ||
5.88%, 03/15/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 88 | 90,200 | ||
NCL Finance Ltd., 6.13%, 03/15/28 . . . . . . . . . . . . . . . . | 85 | 88,187 | ||
Nielsen Finance LLC/Nielsen Finance Co. | ||||
5.63%, 10/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 60 | 62,250 | ||
5.88%, 10/01/30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 70 | 73,701 | ||
4.75%, 07/15/31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 19 | 18,482 | ||
Royal Caribbean Cruises Ltd. | ||||
10.88%, 06/01/23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 45 | 50,400 | ||
9.13%, 06/15/23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 54 | 58,688 | ||
11.50%, 06/01/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 57 | 65,037 | ||
5.50%, 08/31/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 25 | 25,699 | ||
5.50%, 04/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 138 | 141,148 | ||
Viking Ocean Cruises Ship VII Ltd., 5.63%, | ||||
02/15/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 59 | 59,000 | ||
WASH Multifamily Acquisition, Inc., 5.75%, | ||||
04/15/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 33 | 34,459 | ||
2,042,518 | ||||
Consumer Finance - 0.5% | ||||
American Express Co., (5 year CMT + 2.85%), | ||||
3.55%(h)(i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 235 | 239,430 | ||
HealthEquity, Inc., 4.50%, 10/01/29(e)(f) . . . . . . . . . . . . | 91 | 92,365 | ||
MoneyGram International, Inc., 5.38%, 08/01/26(e). . | 34 | 34,510 |
3
BNM1121U-1931737-5949810
Schedule of Investments (unaudited) (continued) September 30, 2021
Par | ||||
Security | (000) | Value | ||
Consumer Finance (continued) | ||||
MPH Acquisition Holdings LLC, 5.50%, 09/01/28(e) . | USD | 104 | $ | 103,714 |
Navient Corp. | ||||
7.25%, 09/25/23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 5 | 5,453 | ||
6.13%, 03/25/24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 96 | 102,792 | ||
5.88%, 10/25/24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 77 | 82,197 | ||
5.00%, 03/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2 | 2,060 | ||
OneMain Finance Corp. | ||||
8.88%, 06/01/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 27 | 29,295 | ||
3.50%, 01/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 97 | 97,044 | ||
6.63%, 01/15/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 8 | 9,200 | ||
5.38%, 11/15/29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 7 | 7,587 | ||
4.00%, 09/15/30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 10 | 9,950 | ||
Sabre GLBL, Inc.(e) | ||||
9.25%, 04/15/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 287 | 331,712 | ||
7.38%, 09/01/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 81 | 86,330 | ||
Shift4 Payments LLC/Shift4 Payments Finance | ||||
Sub, Inc., 4.63%, 11/01/26(e) . . . . . . . . . . . . . . . . . . . . | 109 | 113,769 | ||
Square, Inc., 3.50%, 06/01/31(e) . . . . . . . . . . . . . . . . . . . | 198 | 203,094 | ||
Verscend Escrow Corp., 9.75%, 08/15/26(e) . . . . . . . . | 851 | 896,741 | ||
2,447,243 | ||||
Containers & Packaging - 0.0% | ||||
International Paper Co., 7.30%, 11/15/39. . . . . . . . . . . | 5 | 7,692 | ||
Intertape Polymer Group, Inc., 4.38%, 06/15/29(e) . . | 43 | 43,714 | ||
LABL, Inc., 10.50%, 07/15/27(e). . . . . . . . . . . . . . . . . . . . | 39 | 42,023 | ||
Sealed Air Corp., 4.00%, 12/01/27(e) . . . . . . . . . . . . . . . | 23 | 24,493 | ||
117,922 | ||||
Diversified Consumer Services - 0.5% | ||||
Allied Universal Holdco LLC/Allied Universal | ||||
Finance Corp.(e) | ||||
6.63%, 07/15/26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 662 | 699,919 | ||
9.75%, 07/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 101 | 109,886 | ||
6.00%, 06/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 200 | 197,358 | ||
Allied Universal Holdco LLC/Allied Universal | ||||
Finance Corp./Atlas Luxco 4 Sarl, 4.63%, | ||||
06/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 400 | 399,066 | ||
Ascend Learning LLC, 6.88%, 08/01/25 . . . . . . . . . . . . | 340 | 346,179 | ||
Brink's Co., 5.50%, 07/15/25(e) . . . . . . . . . . . . . . . . . . . . | 15 | 15,675 | ||
Clarivate Science Holdings Corp.(e) | ||||
3.88%, 07/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 126 | 126,000 | ||
4.88%, 07/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 163 | 163,318 | ||
Garda World Security Corp.(e) | ||||
4.63%, 02/15/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 29 | 29,000 | ||
9.50%, 11/01/27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 45 | 48,706 | ||
Rekeep SpA, 7.25%, 02/01/26(a). . . . . . . . . . . . . . . . . . . | EUR | 100 | 124,872 | |
Service Corp. International, 4.00%, 05/15/31 . . . . . . . | USD | 211 | 218,121 | |
Sotheby's, 7.38%, 10/15/27(e) . . . . . . . . . . . . . . . . . . . . . | 200 | 211,500 | ||
2,689,600 | ||||
Diversified Financial Services - 0.3% | ||||
Acuris Finance US, Inc./Acuris Finance SARL, | ||||
5.00%, 05/01/28(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 200 | 199,000 | ||
Arrow Global Finance PLC, 5.13%, 09/15/24(a) . . . . . | GBP | 100 | 134,740 | |
Central Garden & Pet Co. | ||||
4.13%, 10/15/30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 59 | 60,327 | |
4.13%, 04/30/31(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 62 | 62,963 | ||
Citigroup, Inc., Series W, (5 year CMT + 3.60%), | ||||
4.00%(h)(i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 50 | 51,810 | ||
Coinbase Global, Inc.(e) | ||||
3.38%, 10/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 97 | 93,200 | ||
3.63%, 10/01/31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 93 | 88,408 |
S C H E D U L E O F I N V E S T M E N T S
BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets)
Par | |||||
Security | (000) | Value | |||
Diversified Financial Services (continued) | |||||
Garfunkelux Holdco 3 SA, 7.75%, 11/01/25(a). . . . . . . | GBP | 100 | $ | 140,747 | |
Global Aircraft Leasing Co. Ltd., (6.50% Cash or | |||||
7.25% PIK), 6.50%, 09/15/24(e)(j) . . . . . . . . . . . . . . . . | USD | 25 | 24,264 | ||
Intrum AB, 4.88%, 08/15/25(a) . . . . . . . . . . . . . . . . . . . . . | EUR | 100 | 121,275 | ||
Jefferies Finance LLC/JFIN Co-Issuer Corp., | |||||
5.00%, 08/15/28(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | USD | 200 | 202,750 | ||
Ladder Capital Finance Holdings LLLP/Ladder | |||||
Capital Finance Corp., 4.75%, 06/15/29(e) . . . . . . . | 44 | 43,690 | |||
Spectrum Brands, Inc.(e) | |||||
5.00%, 10/01/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 18 | 19,350 | |||
5.50%, 07/15/30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 50 | 55,375 | |||
3.88%, 03/15/31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 21 | 21,218 | |||
UBS Group AG, (5 year CMT + 3.31%), | |||||
4.38%(e)(h)(i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 345 | 348,519 | |||
1,667,636 | |||||
Diversified Telecommunication Services - 0.7% | |||||
Cincinnati Bell, Inc.(e) | |||||
7.00%, 07/15/24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 26 | 26,461 | |||
8.00%, 10/15/25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 20 | 20,844 | |||
Consolidated Communications, Inc., 6.50%, | |||||
10/01/28(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 160 | 173,800 | |||
Intelsat Jackson Holdings SA, 8.00%, 02/15/24(e). . . | 155 | 159,069 | |||
Level 3 Financing, Inc.(e) | |||||
4.25%, 07/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 122 | 122,943 | |||
3.75%, 07/15/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 56 | 54,123 | |||
Lumen Technologies, Inc. | |||||
5.13%, 12/15/26(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 485 | 503,187 | |||
4.50%, 01/15/29(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 157 | 152,130 | |||
5.38%, 06/15/29(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 153 | 156,115 | |||
Series P, 7.60%, 09/15/39 . . . . . . . . . . . . . . . . . . . . . . | 63 | 70,560 | |||
Series U, 7.65%, 03/15/42 . . . . . . . . . . . . . . . . . . . . . . | 55 | 61,600 | |||
Oi SA, (10.00% Cash or 8.00% Cash + 4.00% PIK), | |||||
10.00%, 07/27/25(j) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 7 | 6,554 | |||
Sprint Capital Corp. | |||||
6.88%, 11/15/28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 307 | 392,960 | |||
8.75%, 03/15/32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 389 | 581,111 | |||
Switch Ltd.(e) | |||||
3.75%, 09/15/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 110 | 111,650 | |||
4.13%, 06/15/29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 128 | 131,360 | |||
Telecom Italia Capital SA | |||||
6.38%, 11/15/33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 58 | 67,495 | |||
6.00%, 09/30/34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 134 | 150,415 | |||
7.20%, 07/18/36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 14 | 17,150 | |||
7.72%, 06/04/38 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 23 | 29,440 | |||
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL | |||||
Capital LLC, 6.00%, 01/15/30(e)(f) . . . . . . . . . . . . . . . | 45 | 44,606 | |||
Uniti Group LP/Uniti Group Finance, Inc./CSL | |||||
Capital LLC, 4.75%, 04/15/28(e) . . . . . . . . . . . . . . . . . | 111 | 113,359 | |||
Zayo Group Holdings, Inc.(e) | |||||
4.00%, 03/01/27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 421 | 418,992 | |||
6.13%, 03/01/28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 472 | 478,504 | |||
4,044,428 | |||||
Electric Utilities - 0.2% | |||||
Edison International, (5 year CMT + 4.70%), | |||||
5.38%(h)(i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 100 | 103,405 | |||
FirstEnergy Corp. | |||||
2.65%, 03/01/30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 53 | 52,735 | |||
Series B, 4.40%, 07/15/27 . . . . . . . . . . . . . . . . . . . . . . | 42 | 46,082 | |||
Series B, 2.25%, 09/01/30 . . . . . . . . . . . . . . . . . . . . . . | 6 | 5,790 | |||
Series C, 7.38%, 11/15/31 . . . . . . . . . . . . . . . . . . . . . . | 14 | 19,125 |
4
BNM1121U-1931737-5949810
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BlackRock Debt Strategies Fund Inc. published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 17:14:09 UTC.