November Quarterly NQ -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

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 811-07456

Name of Fund: BlackRock Senior High Income Fund, Inc. (ARK)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Senior
High Income Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address:
P.O. Box 9011, Princeton, NJ, 08543-9011

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

Date of fiscal year end: 02/28/2009

Date of reporting period: 09/01/2008 – 11/30/2008

Item 1 – Schedule of Investments


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Corporate Bonds        (000)    Value 
Aerospace & Defense - 2.9%    Hawker Beechcraft Acquisition Co. LLC, 8.50%,         
    4/01/15        $ 2,000    $ 940,000 
    Moog, Inc., 7.25%, 6/15/18 (a)        5,000    3,850,000 
                4,790,000 
Auto Components - 0.1%    The Goodyear Tire & Rubber Co., 8.625%, 12/01/11    1    746 
    Lear Corp., 8.75%, 12/01/16        1,015    218,225 
    Venture Holdings Co. LLC, 12%, 6/01/09 (b)(c)(d)    700    0 
    Venture Holdings Co. LLC Series B, 9.50%,         
    7/01/05 (b)(c)(d)        3,325    333 
                219,304 
Building Products - 4.4%    Building Materials Corp. of America, 7.75%, 8/01/14    4,000    2,540,000 
    CPG International I, Inc., 9.904%, 7/01/12 (e)    3,500    1,960,000 
    CPG International I, Inc., 10.50%, 7/01/13    1,500    840,000 
    Momentive Performance Materials, Inc. Series WI, 9.75%,         
    12/01/14        1,175    455,313 
    Ply Gem Industries, Inc., 11.75%, 6/15/13    2,225    1,318,313 
                7,113,626 
Chemicals - 4.9%    American Pacific Corp., 9%, 2/01/15        610    530,700 
    ARCO Chemical Co., 9.80%, 2/01/20        1,350    432,000 
    GEO Specialty Chemicals Corp., 7.50%,             
    3/31/15 (d)(f)(g)        1,755    1,314,086 
    GEO Specialty Chemicals, Inc., 12.553%, 12/31/09 (g)    2,873    2,151,159 
    Hexion U.S. Finance Corp., 6.649%, 11/15/14 (e)    3,000    1,470,000 
    NOVA Chemicals Corp., 5.72%, 11/15/13 (e)    3,845    2,057,075 
                7,955,020 
Construction Materials - 1.5%    Nortek, Inc., 10%, 12/01/13        3,420    2,394,000 
Containers & Packaging - 5.8%    Berry Plastics Holding Corp., 5.871%, 9/15/14 (e)    100    47,000 
    Clondalkin Acquisition BV, 3.996%, 12/15/13 (a)(e)    3,500    2,100,000 
    Packaging Dynamics Finance Corp., 10%, 5/01/16 (a)    4,285    1,971,100 
    Smurfit Kappa Funding Plc, 7.75%, 4/01/15    5,150    3,450,500 
    Smurfit-Stone Container Enterprises, Inc., 8.375%,         
    7/01/12        800    224,000 
    Smurfit-Stone Container Enterprises, Inc., 8%, 3/15/17    1,300    344,500 
    Wise Metals Group LLC, 10.25%, 5/15/12        2,000    1,230,000 
                9,367,100 
Diversified Financial    Ford Motor Credit Co. LLC, 7.569%, 1/13/12 (e)    1,340    589,600 
Services - 1.6%    Highland Legacy Ltd., 9.443%, 6/01/11 (a)(e)    4,000    2,000,000 
                2,589,600 
Diversified Telecommunication    Qwest Corp., 5.246%, 6/15/13 (e)        2,000    1,400,000 
Services - 0.9%                 
Electric Utilities - 1.3%    NSG Holdings LLC, 7.75%, 12/15/25 (a)        2,620    2,043,600 
Electronic Equipment &    Communications & Power Industries, Inc., 8%,         
Instruments - 1.5%    2/01/12        3,000    2,460,000 

1


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Corporate Bonds        (000)    Value 
Health Care Providers &    Community Health Systems, Inc. Series WI, 8.875%,         
Services - 2.2%    7/15/15        $ 2,500    $ 2,006,250 
    HCA, Inc., 9.25%, 11/15/16        2,000    1,625,000 
                3,631,250 
Hotels, Restaurants &    American Real Estate Partners LP, 7.125%,         
Leisure - 5.7%    2/15/13        3,000    1,807,500 
    CCM Merger, Inc., 8%, 8/01/13 (a)        4,125    2,310,000 
    Harrah's Operating Co., Inc., 10.75%, 2/01/16 (a)    6,916    1,538,810 
    Harrah's Operating Co., Inc., 10.75%, 2/01/18 (a)(f)    2,130    189,506 
    Little Traverse Bay Bands of Odawa Indians,         
    10.25%, 2/15/14 (a)        1,210    792,550 
    Shingle Springs Tribal Gaming Authority, 9.375%,         
    6/15/15 (a)        690    310,500 
    Snoqualmie Entertainment Authority, 6.875%,         
    2/01/14 (a)(e)        500    295,000 
    Station Casinos, Inc., 7.75%, 8/15/16        1,000    305,000 
    Tropicana Entertainment LLC Series WI, 9.625%,         
    12/15/14 (b)(c)        220    7,700 
    Tunica-Biloxi Gaming Authority, 9%, 11/15/15 (a)    1,500    1,267,500 
    Universal City Florida Holding Co. I, 7.943%,         
    5/01/10 (e)        1,000    460,000 
                9,284,066 
IT Services - 2.7%    First Data Corp., 9.875%, 9/24/15        5,000    2,875,000 
    SunGard Data Systems, Inc., 10.625%, 5/15/15 (a)    2,000    1,540,000 
                4,415,000 
Independent Power Producers &    Energy Future Holding Corp., 11.25%, 11/01/17 (a)(f)    1,500    798,750 
Energy Traders - 3.7%    Texas Competitive Electric Holdings Co. LLC,         
    10.25%, 11/01/15 (a)(f)        7,220    4,620,800 
    Texas Competitive Electric Holdings Co. LLC,         
    10.50%, 11/01/16 (a)(f)        1,200    648,000 
                6,067,550 
Industrial    Sequa Corp., 11.75%, 12/01/15 (a)        2,550    1,122,000 
Conglomerates - 1.6%    Sequa Corp., 13.50%, 12/01/15 (a)(f)        3,360    1,433,674 
                2,555,674 
Insurance - 1.2%    American International Group, Inc., 8.25%, 8/15/18 (a)    3,000    2,001,594 
Machinery - 1.3%    ESCO Corp., 5.871%, 12/15/13 (a)(e)        1,540    1,001,000 
    RBS Global, Inc., 8.875%, 9/01/16        835    517,700 
    Titan International, Inc., 8%, 1/15/12        770    600,600 
                2,119,300 
Marine - 0.1%    Navios Maritime Holdings, Inc., 9.50%, 12/15/14    324    194,400 
Media - 2.6%    Affinion Group, Inc., 10.125%, 10/15/13        515    352,775 
    Charter Communications Holdings LLC, 10%, 4/01/09    1,121    986,480 

2


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Corporate Bonds        (000)             Value 
    Charter Communications Holdings LLC, 11.125%,         
    1/15/11        $ 1,319    $ 547,385 
    Charter Communications Holdings LLC, 10%, 5/15/11    660    270,600 
    Local Insight Regatta Holdings, Inc., 11%, 12/01/17    1,244    584,680 
    Nielsen Finance LLC, 10%, 8/01/14        2,000    1,440,000 
                4,181,920 
Metals & Mining - 4.1%    Aleris International, Inc., 9%, 12/15/14 (f)    840    50,400 
    Freeport-McMoRan Copper & Gold, Inc., 7.084%,         
    4/01/15 (e)        5,085    3,051,000 
    RathGibson, Inc., 11.25%, 2/15/14        2,175    1,326,750 
    Ryerson, Inc., 10.568%, 11/01/14 (a)(e)        3,360    2,217,600 
                6,645,750 
Oil, Gas & Consumable    Chaparral Energy, Inc., 8.50%, 12/01/15        730    270,100 
Fuels - 3.9%    Chesapeake Energy Corp., 6.875%, 1/15/16    4,000    2,820,000 
    Compton Petroleum Finance Corp., 7.625%, 12/01/13    1,475    604,750 
    Sabine Pass LNG LP, 7.50%, 11/30/16        2,985    2,059,650 
    SandRidge Energy, Inc., 7.508%, 4/01/14 (e)    1,000    667,633 
                6,422,133 
Paper & Forest Products - 6.5%    Abitibi-Consolidated, Inc., 5.496%, 6/15/11 (e)    2,755    413,250 
    Ainsworth Lumber Co. Ltd., 11%, 7/29/15 (a)    3,097    2,074,880 
    Bowater, Inc., 4.996%, 3/15/10 (e)        7,400    2,442,000 
    Domtar Corp., 7.125%, 8/15/15        1,775    1,207,000 
    NewPage Corp., 9.443%, 5/01/12 (e)        5,175    2,716,875 
    Verso Paper Holdings LLC Series B, 6.943%,         
    8/01/14 (e)        3,300    1,782,000 
                10,636,005 
Pharmaceuticals - 2.4%    Angiotech Pharmaceuticals, Inc., 5.953%,         
    12/01/13 (e)        2,690    1,533,300 
    Elan Finance Plc, 6.149%, 11/15/11 (e)        2,325    1,313,625 
    Elan Finance Plc, 7.75%, 11/15/11        1,650    990,000 
                3,836,925 
Real Estate Management &    Realogy Corp., 10.50%, 4/15/14        1,370    239,750 
Development - 0.1%                 
Road & Rail - 0.1%    Swift Transportation Co., Inc., 9.899%, 5/15/15 (a)(e)    650    74,750 
Semiconductors &    Avago Technologies Finance Pte. Ltd., 7.703%,         
Semiconductor    6/01/13 (e)        766    637,695 
Equipment - 0.7%    Spansion, Inc., 5.328%, 6/01/13 (a)(e)        2,180    457,800 
                1,095,495 
Specialty Retail - 0.4%    Michaels Stores, Inc., 10%, 11/01/14        1,055    332,325 
    United Auto Group, Inc., 7.75%, 12/15/16    915    333,975 
                666,300 
Textiles, Apparel & Luxury    Quiksilver, Inc., 6.875%, 4/15/15        3,525    1,304,250 
Goods - 0.8%                 

3


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Corporate Bonds        (000)             Value 
Wireless Telecommunication    iPCS, Inc., 5.318%, 5/01/13 (e)        $ 630    $ 441,000 
Services - 0.9%    Nordic Telephone Co. Holdings ApS, 8.875%,         
    5/01/16 (a)        1,200    870,000 
    Orascom Telecom Finance SCA, 7.875%, 2/08/14 (a)    395    217,250 
                1,528,250 
    Total Corporate Bonds - 65.9%            107,232,612 
 
    Floating Rate Loan Interests             
Aerospace & Defense - 2.0%    Hawker Beechcraft Acquisition Co. LLC LC Facility         
    Deposit, 3.662%, 3/26/14        294    154,027 
    Hawker Beechcraft Acquisition Co. LLC Term Loan,         
    5.762%, 3/26/14        5,016    2,629,760 
    IAP Worldwide Services, Inc. First Lien Term Loan,         
    8.063%, 12/30/12        822    505,767 
                3,289,554 
Airlines - 0.5%    Delta Air Lines, Inc. First Lien Term Loan, 1.389%         
    - 4.581%, 4/30/12        1,237    818,297 
Auto Components - 3.5%    Allison Transmission, Inc. Term Loan,             
    4.38% - 5.75%, 8/07/14        5,129    3,055,605 
    Dana Holding Corp. Term Advance, 6.75% -         
    7.86%, 1/31/15        1,549    918,911 
    Goodyear Tire & Rubber Co., Second Lien Term         
    Loan, 2.90%, 4/30/14        1,000    625,000 
    Intermet Corp. First Lien Term Loan, 7.696%,         
    11/08/10 (b)(c)        450    359,722 
    Intermet Corp. First Lien Term Loan, 7.189%,         
    5/15/11        47    37,644 
    Intermet Corp. Letter of Credit, 2.343%,             
    11/08/10 (b)(c)        649    519,354 
    Intermet Corp. Line of Credit, 5.12%, 11/09/10    30    24,148 
    Metaldyne Co. LLC DF Loan, 1.286% - 8.313%,         
    1/11/12        58    19,615 
    Metaldyne Co. LLC Initial Tranche B Term Loan,         
    7.875%, 1/11/14        392    133,385 
                5,693,384 
Automobiles - 0.2%    Ford Motor Co. Term Loan B, 4.43%, 12/15/13    473    189,215 
    General Motors Corp. Term Loan B, 5.795%, 11/29/13    373    143,644 
                332,859 
Biotechnology - 0.5%    Talecris Biotherapeutics Holdings Corp. First Lien         
    Term Loan, 5.64% - 7.25%, 12/06/13        990    868,659 
Building Products - 1.5%    Building Material Corp. of America Term Loan         
    Advance, 6.625% - 6.50%, 2/22/14        1,994    1,228,855 

4


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Floating Rate Loan Interests        (000)             Value 
    Masonite International Term Loan, 4.63% - 6%,         
    4/06/13        $ 1,098    $ 635,741 
    Masonite International Term Loan B, 4.63% -         
    6.50%, 4/06/13        1,075    622,527 
                2,487,123 
Chemicals - 6.5%    Huish Detergents, Inc. Tranche Term Loan B,         
    5.77%, 4/26/14        988    768,604 
    ISP Chemco Term Loan, 2.938% - 3.688%, 6/04/14    987    730,750 
                                                           PQ Corp. (fka Niagara Acquisition, Inc.) First Lien Term
    Loan, 6.72% - 7.02%, 5/29/16        4,987    3,086,016 
    Rockwood Specialties Group, Inc. Tranche E         
    Term Loan, 4.618%, 12/13/12        1,544    1,236,486 
    Solutia, Inc. Loan, 8.50%, 2/28/14        1,496    1,095,989 
    Wellman, Inc. First Lien Term Loan, 7.239%,         
    2/10/09 (b)(c)        7,769    3,690,219 
                10,608,064 
Commercial Services & Supplies -    ARAMARK Corp. LC Facility Letter of Credit, 2.469%,         
2.5%    1/27/14        114    90,311 
    ARAMARK Corp. U.S. Term Loan, 5.637%, 1/27/14    1,795    1,421,552 
    John Maneely Co. Term Loan B, 6.0412% -         
    6.048%, 12/28/13        914    574,234 
    NES Rentals Holdings, Inc. Term Loan C, 9.125%,         
    7/12/13        1,726    759,313 
    West Corp. Term Loan, 3.774% - 4.733%, 10/31/13    1,965    1,219,575 
                4,064,985 
Computers &    Dealer Computer Services, Inc. (Reynolds and Reynolds)         
Peripherals - 0.6%    First Lien Term Loan, 3.186%, 10/31/12        1,186    705,593 
    Intergraph Corp. First Lien Initial Term Loan,         
    4.196%, 5/15/14        419    321,345 
                1,026,938 
Construction &    Brand Energy & Infrastructure Services, Inc. (FR Brand         
Engineering - 0.2%    Acquisition Corp.) Letter of Credit, 3.688%, 2/15/14    500    337,500 
Construction Materials - 0.4%    Headwaters, Inc. First Lien Term Loan B-1, 8.27%,         
    4/30/11        744    669,643 
Containers & Packaging - 0.9%    Graham Packaging Co. LP New Term Loan,         
    4.438% - 6.313%, 9/30/11        1,970    1,495,090 
Distributors - 0.4%    Keystone Automotive Operations, Inc. Loan, 4.909% -         
    5.633%, 1/12/12        1,430    714,996 
Diversified Consumer    Coinmach Corp. Term Loan, 5.81%, 11/15/14    1,990    1,492,481 
Services - 0.9%                 
Diversified Financial    DaimlerChrysler Financial Services America, LLC First Lien         
Services - 1.8%    Term Loan, 6.82%, 8/03/12        3,474    1,835,262 

5


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Floating Rate Loan Interests        (000)    Value 
    J.G. Wentworth, LLC First Lien Term Loan,         
    6.012%, 4/03/14        $ 3,200    $ 1,040,000 
                2,875,262 
Diversified Telecommunication    Winstar Communications Debtor In Possession, 6.366%,         
Services - 1.6%    12/31/06 (b)(c)        1,703    2,575,095 
Electrical Equipment - 0.2%    Generac Power Systems, Inc. First Lien Term Loan, 6.65%,         
    11/10/13        559    333,338 
Energy Equipment &    Dresser, Inc. First Lien Term Loan, 3.686% -         
Services - 1.4%    4.486%, 5/15/14        1,456    991,808 
    Dresser, Inc. Second Lien Term Loan, 7.986%, 5/15/15    1,000    572,500 
    MEG Energy Corp. Delayed Draw Term Loan, 5.76%,         
    3/23/13        497    332,906 
    MEG Energy Corp. Term Loan B, 5.76%, 3/23/13    487    326,625 
                2,223,839 
Food & Staples Retailing - 0.5%    McJunkin Corp. Term Loan B, 7.012%, 1/30/14    491    391,035 
    W.M. Bolthouse Farms, Inc. Second Lien Term Loan,         
    9.262%, 12/01/13        750    483,750 
                874,785 
Food Products - 2.3%    Dole Food Co., Inc. Credit-Linked Deposit, 4.689%,         
    4/12/13        1,151    808,849 
    Dole Food Co., Inc. Tranche Term Loan B, 4.563%         
    - 6%, 4/12/13        416    292,522 
    Dole Food Co., Inc. Tranche Term Loan C,         
    4.50% - 6%, 4/12/13        2,474    1,738,693 
    JRD Holdings, Inc. (Jetro Holdings) Term Loan,         
    4.02%, 5/11/14        969    765,313 
    Sturm Foods, Inc. First Lien Term Loan, 5.875%,         
    1/22/14 (f)        246    142,209 
                3,747,586 
Health Care Equipment &    Biomet, Inc. Dollar Term Loan, 6.762%, 3/25/15    1,980    1,606,895 
Supplies - 1.4%    DJO Finance LLC Term Loan, 5.469% - 5.80%, 11/20/13    992    744,375 
                2,351,270 
Hotels, Restaurants &    Cedar Fair LP Term Loan B, 3.436%, 8/30/12    2,932    1,997,033 
Leisure - 3.4%    Greenwood Racing, Inc. Term Loan, 5.43%, 11/15/13    737    442,125 
    Harrah's Operating Co., Inc. Term Loan B-2,         
    6.535% - 6.762%, 1/28/15        995    580,831 
    Las Vegas Sands LLC Delay Draw Term Loan,         
    5.52%, 5/23/14        299    144,471 
    Las Vegas Sands LLC Tranche Term Loan B,         
    5.52%, 5/04/14        1,185    572,092 
    OSI Restaurant Partners, Inc. Tranche Term Loan         
    B, 5.25%, 5/15/14        1,193    520,111 

6


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Floating Rate Loan Interests        (000)    Value 
    QCE, LLC (Quiznos) First Lien Term Loan, 5.813%,         
    5/05/13        $ 978    $ 537,625 
    VML U.S. Finance LLC (Venetian Macau) Delay         
    Draw Project Loan, 6.02%, 5/25/12        250    140,000 
    VML U.S. Finance LLC (Venetian Macau) Funded         
    Project Loan, 6.02%, 5/25/13        1,000    560,000 
                5,494,288 
IT Services - 3.0%    Activant Solutions Inc. Term Loan B,             
    6.063% - 6.25%, 5/02/13        1,582    965,139 
    Audio Visual Services Corp. Second Lien Term         
    Loan, 9.27%, 8/28/13        500    162,500 
    Audio Visual Services Corp. Term Loan B, 6.02%,         
    2/28/14        1,980    792,000 
    Ceridian Corp. Term Loan, 6.50%, 11/09/14    1,500    1,080,000 
    First Data Corp. Term Loan B-2, 5.551%, 9/24/14    1,237    836,412 
    First Data Corp. Term Loan B-3, 5.551% - 5.948%,         
    9/24/14        394    265,945 
    RedPrairie Corp. Term Loan, 6% - 6.313%, 7/17/12    687    515,212 
    RedPrairie Corp. Term Loan, 5.875%, 1/31/13    295    191,588 
                4,808,796 
Independent Power Producers &    Texas Competitive Electric Holdings Co. LLC (TXU) Initial         
Energy Traders - 0.3%    Tranche Term Loan B2, 6.303% - 7.64%,             
    10/10/14        490    331,240 
    Texas Competitive Electric Holdings Co. LLC (TXU) Initial         
    Tranche Term Loan B3, 6.303% - 7.64%,             
    10/10/14        230    155,193 
                486,433 
Insurance - 0.2%    Alliant Insurance Services Term Loan B, 6.762%,         
    10/23/14        495    314,325 
Internet & Catalog Retail - 0.4%    FTD Group, Inc. Tranche Term Loan B,             
    7.50% - 8.035%, 8/26/14        750    648,750 
Leisure Equipment &    Fender Musical Instruments Corp. Delay Draw Term Loan,         
Products - 0.7%    6.02%, 1/07/14        666    399,333 
    Fender Musical Instruments Corp. Term Loan B,         
    5.17%, 1/07/14        1,318    790,659 
                1,189,992 
Machinery - 2.9%    Harrington Holdings, Inc. Term Loan, 3.686%, 1/11/14    985    748,600 
    LN Acquisition Corp. (Lincoln Industrial) Second Lien Term         
    Loan, 7.16%, 12/18/14        1,000    730,000 
                                                         Navistar International Corp. Revolving Credit Linked
    Deposit, 4.686% - 7.126%, 1/19/12        1,067    576,000 
    Navistar International Corp. Term Advance, 4.686%,         
    1/19/12        2,933    1,584,000 

7


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Floating Rate Loan Interests        (000)             Value 
    OshKosh Truck Corp. Term Loan B,             
    2.93% - 4.62%, 12/06/13        $ 1,780    $ 1,117,585 
                4,756,185 
Media - 16.2%    Affinion Group Holdings, Inc. Term Loan, 9.868%, 3/01/12         
            2,000    800,000 
                                             Cengage Learning Acquisitions, Inc. (Thomson Learning)
    Term Loan, 3.94%, 7/05/14        1,485    983,813 
                                             Cengage Learning Acquisitions, Inc. (Thomson Learning)
    Term Loan B-2, 7.50%, 7/05/14        6,234    5,236,875 
    Cequel Communications LLC First Lien Term         
    Loan, 4.235% - 6.334%, 11/05/13        1,627    1,083,524 
    Cequel Communications LLC Second Lien Term         
    Loan, 8.235% - 9.193%, 5/05/14        5,126    2,819,074 
    Ellis Communications Term Loan, 10%, 12/30/11    3,895    2,337,222 
    GateHouse Media Operating, Inc. Delay Draw         
    Term Loan, 4.20% - 5%, 9/15/14        293    67,458 
                                             GateHouse Media Operating, Inc. Term Loan B, 4.20%,
    8/28/14        337    77,625 
    Getty Images, Inc. Term Loan, 8.053%, 6/30/15    500    426,875 
                                             HMH Publishing Co. Ltd. (fka Education Media) First Lien
    Term Loan B, 7.516%, 11/14/14        2,636    1,660,909 
    HMH Publishing Co. Ltd. (fka Education Media) Term Loan         
    B, 7.516%, 11/14/14        2,000    1,260,000 
    Hanley-Wood LLC Term Loan, 5.75% - 6.012%, 3/08/14    992    471,438 
    Insight Midwest Holdings LLC Term Loan B,         
    4.85%, 4/06/14        700    544,000 
    Knology, Inc. Term Loan, 6.40%, 6/30/12    741    444,375 
                                             Mediacom Illinois, LLC (fka Mediacom Communications,
    LLC) Term Loan D, 2.84%, 1/31/15        1,963    1,381,733 
                                             Mediacom Illinois, LLC (fka Mediacom Communications,
    LLC) Tranche Term Loan C, 2.59%,             
    1/31/15        2,523    1,727,960 
    Newsday LLC Fixed Rate Term Loan, 9.75%, 7/02/13    2,250    1,867,500 
    Nielsen Finance LLC Term Loan, 3.768% - 4.388%, 8/15/13         
            3,430    2,271,857 
    Penton Media, Inc. Term Loan, 5.368% - 5.67%,         
    2/01/13        739    350,906 
    Sitel LLC (ClientLogic) Term Loan, 4.969% -         
    6.789%, 1/30/14        911    500,863 
                26,314,007 
Metals & Mining - 0.7%    Euramax International Plc First Lien Term Loan, 8%,         
    6/29/12        1,624    763,219 

8


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Floating Rate Loan Interests        (000)             Value 
    Euramax International Plc Second Lien Term         
    Loan, 11.50%, 6/29/13        $ 332    $ 116,053 
    Euramax Plc Second Lien Term Loan, 11.50%, 6/29/13    668    233,947 
                1,113,219 
Multiline Retail - 1.0%    The Neiman Marcus Group, Inc. Term Loan, 4.565%,         
    4/06/13        2,500    1,562,500 
Oil, Gas & Consumable    Big West Oil LLC Delay Draw Term Loan,             
Fuels - 2.3%    5.25%, 5/15/14        550    302,500 
    Big West Oil LLC Term Loan B, 5.25%, 5/15/14    437    240,625 
    Petroleum Geo-Services ASA Term Loan B, 5.51%,         
    6/06/15        953    700,700 
    Scorpion Drilling Ltd. Second Lien Term Loan,         
    10.719%, 5/05/15        2,000    1,900,000 
    Western Refining Co. LP Term Loan, 9.25%, 5/30/14    917    518,085 
                3,661,910 
Paper & Forest Products - 0.5%    Boise Paper Holdings, LLC (Aldabra Sub LLC) Second Lien         
    Term Loan, 7.50%, 2/05/15        995    805,950 
Pharmaceuticals - 0.6%    Pharmaceutical Technologies & Services (PTS) Term Loan,         
    6.012%, 4/10/14        1,613    977,578 
Real Estate Management &    LNR Property Corp. Term Loan B, 6.44%, 7/12/11    4,400    2,134,000 
Development - 2.4%    Realogy Corp. Letter of Credit, 1.286%, 9/22/14    2,963    1,694,180 
                3,828,180 
Road & Rail - 0.8%    RailAmerica, Inc. Canadian Term Loan, 7.883%,         
    6/30/09        130    106,978 
    RailAmerica, Inc. Term Loan B, 7.883%, 6/30/09    939    770,144 
    RailAmerica, Inc. U.S. Term Loan, 7.883%, 6/30/09    430    352,878 
                1,230,000 
Specialty Retail - 0.9%    ADESA, Inc. (KAR Holdings, Inc.) Term Loan B, 6.02%,         
    10/20/13        1,914    1,135,774 
    Claire's Stores Inc. Term Loan B, 4.186% - 6.512%,         
    5/29/14        739    303,588 
                1,439,362 
Wireless Telecommunication    Alltel Communications Inc Term Loan B1, 3.939%,         
Services - 2.6%    5/16/15        4,000    3,787,500 
    IPC Systems, Inc. Tranche First Lien Term Loan B-1,         
    6.012%, 5/31/14        927    458,685 
                4,246,185 
    Total Floating Rate Loan Interests - 68.7%        111,758,408 

9


BlackRock Senior High Income Fund, Inc.             
Schedule of Investments November 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
Industry    Common Stocks        Shares             Value 
Chemicals - 0.0%    GEO Specialty Chemicals, Inc. (c)(d)        142,466    $ 54,693 
Containers & Packaging - 0.0%    Smurfit Kappa Plc        18,171    42,860 
Hotels, Restaurants &    Lodgian, Inc. (c)        41,866    92,105 
Leisure - 0.1%                 
Paper & Forest Products - 0.5%    Ainsworth Lumber Co. Ltd.        375,634    396,775 
    Ainsworth Lumber Co. Ltd. (c)        421,556    444,923 
                841,698 
Wireless Telecommunication    American Tower Corp. Class A (c)        8,455    230,314 
Services - 0.2%                 
    Total Common Stocks - 0.8%            1,261,670 
            Par     
    Capital Trusts        (000)     
Diversified Financial    Citigroup, Inc. Series E, 8.40% (e)(h)        $ 2,000    1,180,900 
Services - 0.7%                 
    Total Capital Trusts - 0.7%            1,180,900 
            Beneficial     
            Interest     
    Other Interests (i)        (000)     
Media - 0.0%    Adelphia Preferred Escrow (d)        3    0 
    Adelphia Recovery Trust Series ACC-6B INT (d)    250    25 
    Total Other Interests - 0.0%            25 
    Total Long-Term Investments (Cost - $369,739,556) - 136.1%    221,433,615 
    Short-Term Securities             
    BlackRock Liquidity Series, LLC Cash Sweep         
    Series, 1.64% (j)(k)        1,634    1,633,692 
    Total Short-Term Securities             
    (Cost - $1,633,692) - 1.0%            1,633,692 
    Total Investments             
    (Cost - $371,373,248*) - 137.1%            223,067,307 
    Liabilities in Excess of Other Assets - (37.1)%        (60,343,164) 
    Net Assets - 100.0%            $ 162,724,143 

10


BlackRock Senior High Income Fund, Inc.

Schedule of Investments November 30, 2008 (Unaudited)

*      The cost and unrealized appreciation (depreciation) of investments as of November 30, 2008, as computed for federal income tax purposes, were as follows:
 
Aggregate cost    $ 371,386,298 
Gross unrealized appreciation    $ 2,809,209 
Gross unrealized depreciation    (151,128,200) 
Net unrealized depreciation    $ (148,318,991) 

(a)      Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.
 
(b)      Issuer filed for bankruptcy and/or is in default of interest payments.
 
(c)      Non-income producing security.
 
(d)      Security is fair valued.
 
(e)      Variable rate security. Rate shown is as of report date.
 
(f)      Represents a payment-in-kind security which may pay interest/dividends in additional par/shares.
 
(g)      Convertible security.
 
(h)      Security is perpetual in nature and has no stated maturity date.
 
(i)      Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non- income producing.
 
(j)      Represents the current yield as of report date.
 
(k)      Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
 
    Net         
Affiliate    Activity    Income
BlackRock Liquidity Series, LLC Cash Sweep Series    $ 1,633,692    $ 63,480 

Currency    Currency    Settlement    Unrealized 
Purchased    Sold    Date    Appreciation 
USD 567,656    CAD 675,000    1/21/09    $ 23,097 

• Credit default swaps on single-name issues - sold protection outstanding as of November 30, 2008 were as follows:

                    Notional     
    Receive            Credit    Amount    Unrealized 
Issuer    Fixed Rate    Counterparty    Expiration    Rating(1)    (000) (2)    Depreciation 
Ford Motor Co.    2.05%    Deutsche Bank AG    March 2010    CCC    $ 5,000    $ (2,239,035) 

(1)      Using the higher of Standard and Poor's or Moody's Investors Service ratings.
 
(2)      The maximum potential amount the Fund may receive should a negative credit event take place as defined under the terms of the agreement.
 

11


BlackRock Senior High Income Fund, Inc.

Schedule of Investments November 30, 2008 (Unaudited)

Credit default swaps on traded indexes - buy protection outstanding as of November 30, 2008 were as follows:

    Pay            Notional     
    Fixed            Amount    Unrealized 
Issuer    Rate    Counterparty    Expiration    (000) (1)    Appreciation 
Dow Jones CDX North                     
America High Yield                     
Index Series 10        Credit Suisse First             
Class V1    5.00%    Boston    June 2013    $ 4,000    $ 603,764 

(1) The maximum potential amount the Fund may receive should a negative credit event take place as defined under the terms of the agreement.

• Currency Abbreviations:

CAD Canadian Dollar

USD U.S. Dollar

12


BlackRock Senior High Income Fund, Inc.

Schedule of Investments November 30, 2008 (Unaudited)

  • Effective March 1, 2008, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows:
     
     
  • Level 1 - price quotations in active markets/exchanges for identical securities
     
     
  • Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates) or other market-corroborated inputs)
     
     
  • Level 3 - unobservable inputs based on the best information available in the circumstance, to the extent observable inputs are not available (including the Fund's own assumption used in determining the fair value of investments)
     
      The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements as contained in its semi-annual report.
     

    The following table summarizes the inputs used as of November 30, 2008 in determining the fair valuation of the Fund's investments:

    Valuation    Investments in    Other Financial 
    Inputs    Securities    Instruments* 
    Level 1    $ 719,195    - 
    Level 2    179,396,104    $ (1,612,174) 
    Level 3    42,952,008    - 
    Total    $ 223,067,307    $ (1,612,174) 

    * Other financial instruments are swaps and foreign currency exchange contracts.

    The following is a reconciliation of investments for unobservable inputs (Level 3) used in determining fair value:

        Investments in 
        Securities 
    Balance, as of March 1, 2008    $ 93,389,807 
    Accrued discounts/premiums    117,439 
    Realized gain (loss)    (6,675,747) 
    Change in unrealized appreciation (depreciation)    (14,735,783) 
    Net purchases (sales)    (17,898,872) 
    Net transfers in/out of Level 3    (11,244,836) 
    Balance, as of November 30, 2008    $ 42,952,008 

    13


    Item 2 – Controls and Procedures

    2(a) – The registrant’s principal executive and principal financial officers or persons performing similar
    functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule
    30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as
    of a date within 90 days of the filing of this report based on the evaluation of these controls and
    procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities
    Exchange Act of 1934, as amended.

    2(b) – There were no changes in the registrant’s internal control over financial reporting (as defined in
    Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have
    materially affected, or are reasonably likely to materially affect, the registrant’s internal control over
    financial reporting.

    Item 3 – Exhibits

    Certifications – Attached hereto

    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company
    Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,
    thereunto duly authorized.

    BlackRock Senior High Income Fund, Inc.

    By: /s/ Donald C. Burke
    Donald C. Burke
    Chief Executive Officer of
    BlackRock Senior High Income Fund, Inc.

    Date: January 20, 2009

    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company
    Act of 1940, this report has been signed below by the following persons on behalf of the registrant
    and in the capacities and on the dates indicated.

    By: /s/ Donald C. Burke
    Donald C. Burke
    Chief Executive Officer (principal executive officer) of
    BlackRock Senior High Income Fund, Inc.

    Date: January 20, 2009

    By: /s/ Neal J. Andrews
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Senior High Income Fund, Inc.

    Date: January 20, 2009