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: Anne F. Ackerley, Chief Executive Officer, BlackRock Senior High Income Fund, Inc., 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: 02/28/2010
Date of reporting period: 11/30/2009
Item 1 – Schedule of Investments
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BlackRock Senior High Income Fund, Inc. (ARK) |
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Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
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Industry |
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Common Stocks (a) |
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Shares |
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Value |
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Auto Components - 0.2% |
|
Lear Corp. |
|
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5,576 |
|
$ |
351,262 |
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Building Products - 0.7% |
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Masonite Worldwide Holdings |
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40,055 |
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1,401,925 |
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|
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|
|
|
|
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Capital Markets - 0.2% |
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E*Trade Financial Corp. |
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271,000 |
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444,440 |
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Chemicals - 0.0% |
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GEO Specialty Chemicals, Inc. (b) |
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142,466 |
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|
54,693 |
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Wellman Holdings, Inc. |
|
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5,131 |
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1,283 |
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55,976 |
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Containers & Packaging - 0.1% |
|
Smurfit Kappa Plc |
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18,171 |
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|
148,987 |
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|
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Hotels,
Restaurants & |
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Lodgian, Inc. |
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41,866 |
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|
53,170 |
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|
|
|
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Metals & Mining - 0.0% |
|
Euramax International |
|
|
935 |
|
|
28,047 |
|
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|
|
|
|
|
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Paper & Forest Products - 0.7% |
|
Ainsworth Lumber Co. Ltd. |
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375,634 |
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|
729,628 |
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Ainsworth Lumber Co. Ltd. (b) |
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421,556 |
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819,720 |
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1,549,348 |
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Total Common Stocks - 1.9% |
|
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4,033,155 |
|
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Corporate Bonds |
|
Par |
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Aerospace & Defense - 2.8% |
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Moog, Inc., 7.25%, 6/15/18 |
|
USD |
5,000 |
|
|
4,800,000 |
|
|
|
|
TransDigm, Inc., 7.75%, 7/15/14 (b) |
|
|
1,100 |
|
|
1,116,500 |
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5,916,500 |
|
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|
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Airlines - 0.5% |
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Delta Air Lines, Inc., Series B, 9.75%, 12/17/16 |
|
|
500 |
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|
500,000 |
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United Air Lines, Inc., 12.75%, 7/15/12 |
|
|
600 |
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610,500 |
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1,110,500 |
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Auto Components - 1.9% |
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The Goodyear Tire & Rubber Co., 8.63%, 12/01/11 |
|
|
4,000 |
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|
4,095,000 |
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|
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Venture Holdings Co. LLC,
12.00%, |
|
|
700 |
|
|
— |
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Venture Holdings Co. LLC, Series B, 9.50%, 7/01/05 (a)(c)(d) |
|
|
3,325 |
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|
332 |
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|
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4,095,332 |
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|
|
|
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Biotechnology - 0.1% |
|
QHP Pharma, 10.25%, 3/15/15 (b) |
|
|
315 |
|
|
318,600 |
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Building Products - 2.5% |
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CPG International I, Inc., 7.87%, 7/01/12 (e) |
|
|
3,500 |
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|
3,176,250 |
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CPG International I, Inc., 10.50%, 7/01/13 |
|
|
1,500 |
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1,361,250 |
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Ply Gem Industries, Inc., 11.75%, 6/15/13 |
|
|
725 |
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|
692,375 |
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5,229,875 |
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Chemicals - 3.1% |
|
American Pacific Corp., 9.00%, 2/01/15 |
|
|
610 |
|
|
568,825 |
|
|
|
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GEO Specialty Chemicals,
Inc., 7.50%, |
|
|
1,869 |
|
|
1,214,605 |
|
|
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GEO Specialty Chemicals, Inc., 10.00%, 3/31/15 |
|
|
1,839 |
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|
1,195,168 |
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Huntsman International LLC,
5.50%, |
|
|
495 |
|
|
429,412 |
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Wellman Holdings, Inc., Second Lien Subordinate Note, 10.00%, 1/29/19 (b)(f) |
|
|
2,383 |
|
|
2,383,000 |
|
|
|
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Wellman Holdings, Inc.,
Third Lien Subordinate |
|
|
1,599 |
|
|
799,500 |
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6,590,510 |
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Commercial Services & Supplies - 2.0% |
|
ACCO Brands Corp., 10.63%, 3/15/15 (b) |
|
|
365 |
|
|
393,744 |
|
|
|
|
Clean Harbors, Inc., 7.63%, 8/15/16 (b) |
|
|
700 |
|
|
704,375 |
|
|
|
|
The Geo Group, Inc., 7.75%, 10/15/17 (b) |
|
|
450 |
|
|
456,750 |
|
|
|
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RSC Equipment Rental, Inc.,
10.00%, |
|
|
550 |
|
|
592,625 |
|
|
|
|
Sally Holdings LLC, 9.25%, 11/15/14 |
|
|
420 |
|
|
434,700 |
|
|
|
|
Sally Holdings LLC, 10.50%, 11/15/16 |
|
|
570 |
|
|
609,900 |
|
1
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BlackRock Senior High Income Fund, Inc. (ARK) |
|
|
Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industry |
|
Corporate Bonds |
|
Par |
|
Value |
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||
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||
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Scientific Games International, Inc., 9.25%, 6/15/19 |
|
USD |
960 |
|
$ |
997,200 |
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4,189,294 |
|
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|
|
|
|
|
|
|
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Construction Materials - 1.2% |
|
Nortek, Inc., 10.00%, 12/01/13 |
|
|
2,570 |
|
|
2,634,250 |
|
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Consumer Finance - 1.1% |
|
Ford Motor Credit Co. LLC, 3.03%, 1/13/12 (e) |
|
|
1,340 |
|
|
1,214,710 |
|
|
|
|
Inmarsat Finance Plc, 7.38%, 12/01/17 (b) |
|
|
1,150 |
|
|
1,161,500 |
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2,376,210 |
|
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Containers & Packaging - 3.0% |
|
Berry Plastics Corp., 4.13%, 9/15/14 (e) |
|
|
100 |
|
|
78,000 |
|
|
|
|
Berry Plastics Escrow LLC, 8.25%, 11/15/15 (b) |
|
|
1,100 |
|
|
1,086,250 |
|
|
|
|
Clondalkin Acquisition BV,
2.25%, |
|
|
2,000 |
|
|
1,765,000 |
|
|
|
|
Crown Americas LLC, 7.63%, 5/15/17 (b) |
|
|
400 |
|
|
408,000 |
|
|
|
|
Graphic Packaging International, Inc., 9.50%, 6/15/17 |
|
|
555 |
|
|
585,525 |
|
|
|
|
Packaging Dynamics Finance Corp., 10.00%, 5/01/16 (b) |
|
|
1,650 |
|
|
1,221,000 |
|
|
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|
Smurfit Kappa Funding Plc, 7.75%, 4/01/15 |
|
|
1,050 |
|
|
1,002,750 |
|
|
|
|
Solo Cup Co., 10.50%, 11/01/13 (b) |
|
|
250 |
|
|
263,125 |
|
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|
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|
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6,409,650 |
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Diversified Financial Services - 1.6% |
|
Highland Legacy Ltd., 6.53%, 6/01/11 (b)(e) |
|
|
4,000 |
|
|
2,400,000 |
|
|
|
|
Reynolds Group DL Escrow, Inc., 7.75%, 10/15/16 (b) |
|
|
955 |
|
|
964,550 |
|
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|
|
|
|
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|
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3,364,550 |
|
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|
|
|
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|
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Diversified Telecommunication Services - 2.8% |
|
Cincinnati Bell, Inc., 8.25%, 10/15/17 |
|
|
900 |
|
|
893,250 |
|
|
|
|
Nordic Telephone Co. Holdings ApS, 8.88%, 5/01/16 (b) |
|
|
1,200 |
|
|
1,260,000 |
|
|
|
|
PAETEC Holding Corp., 8.88%, 6/30/17 |
|
|
600 |
|
|
595,500 |
|
|
|
|
Qwest Corp., 8.38%, 5/01/16 (b) |
|
|
3,000 |
|
|
3,135,000 |
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5,883,750 |
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|
Electric Utilities - 0.4% |
|
NSG Holdings LLC, 7.75%, 12/15/25 (b) |
|
|
1,000 |
|
|
895,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Food & Staples Retailing - 0.5% |
|
Duane Reade, Inc., 11.75%, 8/01/15 (b) |
|
|
155 |
|
|
167,012 |
|
|
|
|
Rite Aid Corp., 9.75%, 6/12/16 |
|
|
825 |
|
|
891,000 |
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|
|
|
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1,058,012 |
|
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|
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|
|
|
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Food Products - 0.4% |
|
Smithfield Foods, Inc., 10.00%, 7/15/14 (b) |
|
|
750 |
|
|
785,625 |
|
|
|
|
|
|
|
|
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|
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|
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Health Care Equipment & Supplies - 0.8% |
|
DJO Finance LLC, 10.88%, 11/15/14 |
|
|
710 |
|
|
747,275 |
|
|
|
|
Hologic, Inc., 2.00%, 12/15/37 (f)(h) |
|
|
1,200 |
|
|
972,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,719,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care Providers & Services - 3.1% |
|
Community Health Systems, Inc., Series WI, 8.88%, 7/15/15 |
|
|
1,880 |
|
|
1,917,600 |
|
|
|
|
DaVita, Inc., 7.25%, 3/15/15 |
|
|
525 |
|
|
522,375 |
|
|
|
|
Snoqualmie Entertainment Authority, 4.68%, 2/01/14 (b)(e) |
|
|
500 |
|
|
255,000 |
|
|
|
|
Tenet Healthcare Corp., 10.00%, 5/01/18 (b) |
|
|
850 |
|
|
945,625 |
|
|
|
|
Tenet Healthcare Corp., 8.88%, 7/01/19 (b) |
|
|
2,775 |
|
|
2,969,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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6,609,850 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Hotels, Restaurants & Leisure - 1.8% |
|
American Real Estate Partners LP, 7.13%, 2/15/13 |
|
|
2,450 |
|
|
2,401,000 |
|
|
|
|
Little Traverse Bay Bands of Odawa Indians, 10.25%, 2/15/14 (a)(b)(c) |
|
|
1,210 |
|
|
302,500 |
|
|
|
|
MGM Mirage, 10.38%, 5/15/14 (b) |
|
|
185 |
|
|
197,487 |
|
|
|
|
MGM Mirage, 11.13%, 11/15/17 (b) |
|
|
750 |
|
|
821,250 |
|
2
|
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
|
Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
Industry |
|
Corporate Bonds |
|
Par |
|
Value |
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||
|
|
|
|
|
|
|
|
|
|
|
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|
|
Shingle Springs Tribal Gaming Authority, 9.38%, 6/15/15 (b) |
|
USD |
190 |
|
$ |
137,750 |
|
|
|
|
Tropicana Entertainment LLC, Series WI, 9.63%, 12/15/14 (a)(c) |
|
|
220 |
|
|
825 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,860,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Household Durables - 1.6% |
|
Beazer Homes USA, Inc., 12.00%, 10/15/17 (b) |
|
|
1,000 |
|
|
1,080,000 |
|
|
|
|
Jarden Corp., 7.50%, 5/01/17 |
|
|
985 |
|
|
975,150 |
|
|
|
|
K Hovnanian Enterprises, Inc., 10.63%, 10/15/16 (b) |
|
|
1,265 |
|
|
1,290,300 |
|
|
|
|
KB Home, 6.38%, 8/15/11 |
|
|
106 |
|
|
106,265 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,451,715 |
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services - 2.1% |
|
First Data Corp., 9.88%, 9/24/15 |
|
|
5,030 |
|
|
4,476,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Power Producers & Energy Traders - 3.3% |
|
The AES Corp., 8.75%, 5/15/13 (b) |
|
|
335 |
|
|
340,862 |
|
|
|
|
AES Eastern Energy LP, Series 99-B, 9.67%, 1/02/29 |
|
|
570 |
|
|
490,200 |
|
|
|
|
Calpine Construction Finance Co. LP, 8.00%, 6/01/16 (b) |
|
|
1,000 |
|
|
1,005,000 |
|
|
|
|
Dynegy Holdings, Inc., 8.38%, 5/01/16 |
|
|
1,260 |
|
|
1,156,050 |
|
|
|
|
Energy Future Holdings Corp., 11.25%, 11/01/17 (g) |
|
|
910 |
|
|
569,000 |
|
|
|
|
NRG Energy, Inc., 7.25%, 2/01/14 |
|
|
3,000 |
|
|
3,026,250 |
|
|
|
|
NRG Energy, Inc., 8.50%, 6/15/19 |
|
|
500 |
|
|
505,000 |
|
|
|
|
Texas Competitive Electric Holdings Co. LLC, 10.50%, 11/01/16 (g) |
|
|
71 |
|
|
45,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,137,635 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial Conglomerates - 1.4% |
|
Sequa Corp., 11.75%, 12/01/15 (b) |
|
|
1,430 |
|
|
1,272,700 |
|
|
|
|
Sequa Corp., 13.50%, 12/01/15 (b)(g) |
|
|
1,937 |
|
|
1,684,951 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,957,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Internet & Catalog Retail - 0.1% |
|
NetFlix, Inc., 8.50%, 11/15/17 (b) |
|
|
250 |
|
|
256,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Life Sciences Tools & Services - 0.5% |
|
Bio-Rad Laboratories, Inc., 6.13%, 12/15/14 |
|
|
1,035 |
|
|
1,006,537 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Machinery - 2.0% |
|
ESCO Corp., 4.13%, 12/15/13 (b)(e) |
|
|
1,540 |
|
|
1,409,100 |
|
|
|
|
Navistar International Corp., 8.25%, 11/01/21 |
|
|
1,500 |
|
|
1,473,750 |
|
|
|
|
RBS Global, Inc., 8.88%, 9/01/16 |
|
|
835 |
|
|
722,275 |
|
|
|
|
Titan International, Inc., 8.00%, 1/15/12 |
|
|
770 |
|
|
752,675 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,357,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Marine - 0.3% |
|
Navios Maritime Holdings, Inc., 9.50%, 12/15/14 |
|
|
254 |
|
|
249,873 |
|
|
|
|
Navios Maritime Holdings, Inc., 8.88%, 11/01/17 (b) |
|
|
450 |
|
|
461,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
711,123 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Media - 5.2% |
|
Affinion Group, Inc., 10.13%, 10/15/13 |
|
|
1,015 |
|
|
1,035,300 |
|
|
|
|
CSC Holdings, Inc., 8.50%, 4/15/14 (b) |
|
|
390 |
|
|
409,987 |
|
|
|
|
Charter Communications Holdings LLC, 10.00%, 4/01/09 (a)(c) |
|
|
1,121 |
|
|
5,605 |
|
|
|
|
Charter Communications Holdings LLC, 11.13%, 1/15/11 (a)(c) |
|
|
1,319 |
|
|
65,950 |
|
|
|
|
Charter Communications Holdings LLC, 10.00%, 5/15/11 (a)(c) |
|
|
660 |
|
|
3,300 |
|
|
|
|
EchoStar DBS Corp., 7.00%, 10/01/13 |
|
|
850 |
|
|
850,000 |
|
|
|
|
Intelsat Corp., 9.25%, 8/15/14 |
|
|
3,500 |
|
|
3,526,250 |
|
3
|
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
|
Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industry |
|
Corporate Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Local Insight Regatta Holdings, Inc., 11.00%, 12/01/17 |
|
USD |
644 |
|
$ |
386,400 |
|
|
|
|
Nielsen Finance LLC, 11.63%, 2/01/14 |
|
|
2,500 |
|
|
2,687,500 |
|
|
|
|
UPC Germany GmbH, 8.13%, 12/01/17 (b) |
|
|
1,500 |
|
|
1,500,000 |
|
|
|
|
WMG Acquisition Corp., 9.50%, 6/15/16 (b) |
|
|
555 |
|
|
596,625 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,066,917 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Metals & Mining - 1.9% |
|
Aleris International, Inc., 9.00%, 12/15/14 (a)(c) |
|
|
840 |
|
|
3,150 |
|
|
|
|
Murray Energy Corp., 10.25%, 10/15/15 (b) |
|
|
420 |
|
|
411,600 |
|
|
|
|
RathGibson, Inc., 11.25%, 2/15/14 (a)(c) |
|
|
2,175 |
|
|
761,250 |
|
|
|
|
Ryerson, Inc., 7.66%, 11/01/14 (e) |
|
|
1,800 |
|
|
1,588,500 |
|
|
|
|
Teck Resources Ltd., 10.75%, 5/15/19 |
|
|
1,075 |
|
|
1,255,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,019,562 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Multiline Retail - 0.2% |
|
Dollar General Corp., 11.88%, 7/15/17 (g) |
|
|
198 |
|
|
221,265 |
|
|
|
|
Saks, Inc., 9.88%, 10/01/11 |
|
|
125 |
|
|
129,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
350,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil, Gas & Consumable Fuels - 4.6% |
|
Arch Coal, Inc., 8.75%, 8/01/16 (b) |
|
|
750 |
|
|
772,500 |
|
|
|
|
Atlas Energy Operating Co. LLC, 12.13%, 8/01/17 |
|
|
825 |
|
|
921,937 |
|
|
|
|
Atlas Energy Resources LLC,
10.75%, |
|
|
200 |
|
|
217,500 |
|
|
|
|
Chesapeake Energy Corp., 6.88%, 1/15/16 |
|
|
1,000 |
|
|
960,000 |
|
|
|
|
Denbury Resources, Inc., 9.75%, 3/01/16 |
|
|
520 |
|
|
549,900 |
|
|
|
|
El Paso Corp., 7.00%, 6/15/17 |
|
|
775 |
|
|
759,500 |
|
|
|
|
Forest Oil Corp., 8.50%, 2/15/14 (b) |
|
|
810 |
|
|
828,225 |
|
|
|
|
Forest Oil Corp., 7.25%, 6/15/19 |
|
|
205 |
|
|
194,237 |
|
|
|
|
Massey Energy Co., 6.88%, 12/15/13 |
|
|
800 |
|
|
788,000 |
|
|
|
|
OPTI Canada, Inc., 9.00%, 12/15/12 (b) |
|
|
550 |
|
|
548,625 |
|
|
|
|
Sabine Pass LNG LP, 7.50%, 11/30/16 |
|
|
2,985 |
|
|
2,477,550 |
|
|
|
|
SandRidge Energy, Inc., 3.91%, 4/01/14 (e) |
|
|
1,000 |
|
|
845,752 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,863,726 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Paper & Forest Products - 3.3% |
|
Ainsworth Lumber Co. Ltd.,
11.00%, |
|
|
1,291 |
|
|
787,404 |
|
|
|
|
Clearwater Paper Corp., 10.63%, 6/15/16 (b) |
|
|
365 |
|
|
401,500 |
|
|
|
|
Georgia-Pacific LLC, 8.25%, 5/01/16 (b) |
|
|
1,630 |
|
|
1,727,800 |
|
|
|
|
NewPage Corp., 6.53%, 5/01/12 (e) |
|
|
5,175 |
|
|
3,182,625 |
|
|
|
|
Verso Paper Holdings LLC, 11.50%, 7/01/14 (b) |
|
|
315 |
|
|
343,350 |
|
|
|
|
Verso Paper Holdings LLC, Series B, 4.03%, 8/01/14 (e) |
|
|
745 |
|
|
558,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,001,429 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals - 1.5% |
|
Angiotech Pharmaceuticals, Inc., 4.01%, 12/01/13 (e) |
|
|
2,690 |
|
|
2,219,250 |
|
|
|
|
Elan Corp. Plc, 8.75%, 10/15/16 (b) |
|
|
520 |
|
|
488,800 |
|
|
|
|
Valeant Pharmaceuticals International, 8.38%, |
|
|
|
|
|
|
|
|
|
|
6/15/16 (b) |
|
|
450 |
|
|
463,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,171,550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Semiconductors & Semiconductor Equipment - 1.2% |
|
Advanced Micro Devices,
Inc., 8.13%, |
|
|
400 |
|
|
377,500 |
|
|
|
|
Avago Technologies Finance Pte. Ltd., 5.86%, 6/01/13 (e) |
|
|
766 |
|
|
766,479 |
|
|
|
|
Spansion, Inc., 3.79%, 6/01/13 (a)(b)(c) |
|
|
1,460 |
|
|
1,518,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,662,379 |
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
|
Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industry |
|
Corporate Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
Specialty Retail - 0.4% |
|
United Auto Group, Inc., 7.75%, 12/15/16 |
|
USD |
915 |
|
$ |
885,262 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Textiles, Apparel & Luxury Goods - 0.9% |
|
Quiksilver, Inc., 6.88%, 4/15/15 |
|
|
2,525 |
|
|
1,931,625 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Wireless Telecommunication Services - 3.2% |
|
Cricket Communications, Inc., 9.38%, 11/01/14 |
|
|
140 |
|
|
134,750 |
|
|
|
|
Cricket Communications, Inc., 10.00%, 7/15/15 |
|
|
120 |
|
|
116,400 |
|
|
|
|
Cricket Communications,
Inc., 7.75%, |
|
|
2,000 |
|
|
1,975,000 |
|
|
|
|
Crown Castle International Corp., 9.00%, 1/15/15 |
|
|
145 |
|
|
153,337 |
|
|
|
|
Digicel Group Ltd., 12.00%, 4/01/14 (b) |
|
|
800 |
|
|
894,000 |
|
|
|
|
MetroPCS Wireless, Inc., 9.25%, 11/01/14 |
|
|
2,000 |
|
|
2,005,000 |
|
|
|
|
Nextel Communications, Inc., Series E, 6.88%, 10/31/13 |
|
|
690 |
|
|
655,500 |
|
|
|
|
Nextel Communications, Inc., Series F, 5.95%, 3/15/14 |
|
|
100 |
|
|
90,500 |
|
|
|
|
Orascom Telecom Finance
SCA, 7.88%, |
|
|
395 |
|
|
331,800 |
|
|
|
|
Sprint Capital Corp., 7.63%, 1/30/11 |
|
|
220 |
|
|
222,200 |
|
|
|
|
Sprint Capital Corp., 6.88%, 11/15/28 |
|
|
370 |
|
|
277,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,855,987 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporate Bonds - 63.3% |
|
|
|
|
|
135,212,083 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (e) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace & Defense - 0.6% |
|
Hawker Beechcraft Acquisition Co., LLC, Letter of Credit Facility Deposit, 2.28%, 3/26/14 |
|
|
94 |
|
|
69,799 |
|
|
|
|
Hawker Beechcraft Acquisition Co., LLC, Term Loan, 2.23% - 2.28%, 3/26/14 |
|
|
1,583 |
|
|
1,181,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,251,207 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Airlines - 0.5% |
|
Delta Air Lines, Inc., Credit-Linked Deposit Loan, 0.09% - 2.28%, 4/30/12 |
|
|
1,225 |
|
|
1,075,958 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto Components - 3.0% |
|
Allison Transmission, Inc., Term Loan, 2.99% - 3.04%, 8/07/14 |
|
|
5,053 |
|
|
4,421,613 |
|
|
|
|
Dana Holding Corp., Term Advance, 7.25%, 1/31/15 |
|
|
1,351 |
|
|
1,205,605 |
|
|
|
|
The Goodyear Tire & Rubber Co., Loan (Second Lien), 2.34%, 4/30/14 |
|
|
300 |
|
|
268,125 |
|
|
|
|
Lear Corp., Term Loan (Second Lien), 9.00%, 11/09/12 |
|
|
500 |
|
|
500,834 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,396,177 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Automobiles - 0.4% |
|
Ford Motor Co., Term Loan, 3.24% - 3.29%, 12/15/13 |
|
|
1,071 |
|
|
938,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Beverages - 0.7% |
|
Inbev NV/SA, Bridge Loan, 5.25%, 7/15/13 |
|
|
1,500 |
|
|
1,468,595 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Building Products - 1.1% |
|
Building Materials Corp., of America, Term Loan Advance, 3.00%, 2/22/14 |
|
|
1,226 |
|
|
1,109,001 |
|
|
|
|
Goodman Global Holdings, Term Loan B, 6.25%, 2/13/14 |
|
|
1,175 |
|
|
1,174,021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,283,022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemicals - 3.0% |
|
Ashland Inc., Term B Borrowing, 7.65%, 5/13/14 |
|
|
324 |
|
|
329,327 |
|
|
|
|
Gentek, Inc., Term Loan B, 7.00%, 10/20/14 |
|
|
400 |
|
|
401,667 |
|
|
|
|
Nalco Co., Term Loan, 6.50%, 5/13/16 |
|
|
1,020 |
|
|
1,026,249 |
|
|
|
|
PQ Corp., (fka Niagara Acquisition, Inc.), Original Term Loan (First Lien), 3.49% - 3.54%, 7/30/14 |
|
|
3,938 |
|
|
3,465,000 |
|
|
|
|
Solutia Inc., Loan, 7.25%, 2/28/14 |
|
|
1,104 |
|
|
1,116,892 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,339,135 |
|
|
|
|
|
|
|
|
|
|
|
|
5
|
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
|
Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industry |
|
Floating Rate Loan Interests (e) |
|
Par |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
||
|
Commercial Services & Supplies - 1.7% |
|
ARAMARK Corp., Facility Letter of Credit, 2.31%, 1/26/14 |
|
USD |
71 |
|
$ |
63,847 |
|
|
|
|
ARAMARK Corp., U.S. Term Loan, 2.11% - 2.16%, 1/26/14 |
|
|
1,077 |
|
|
970,835 |
|
|
|
|
Casella Waste Systems, Inc., Term Loan B, 7.00%, 4/08/14 |
|
|
219 |
|
|
219,999 |
|
|
|
|
John Maneely Co., Term Loan, 3.49% - 3.53%, 12/09/13 |
|
|
866 |
|
|
792,271 |
|
|
|
|
Synagro Technologies, Inc., Term Loan (First Lien), 2.23% - 2.24%, 4/02/14 |
|
|
425 |
|
|
342,656 |
|
|
|
|
West Corp., Term Loan B3, 7.25%, 11/08/13 |
|
|
1,248 |
|
|
1,239,780 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,629,388 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction & Engineering - 0.2% |
|
Brand Energy & Infrastructure Services, Inc. (FR Brand Acquisition Corp.), Synthetic Letter of Credit Term Loan (First Lien), 2.44%, 2/07/14 |
|
|
500 |
|
|
446,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Containers & Packaging - 0.3% |
|
Graham Packaging Co., LP, Term Loan B, 2.50%, 10/07/11 |
|
|
597 |
|
|
576,046 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributors - 0.2% |
|
Keystone Automotive Operations, Inc., Loan, 3.74% - 5.75%, 1/12/12 |
|
|
616 |
|
|
385,290 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Consumer Services - 1.8% |
|
Coinmach Service Corp., Term Loan, 3.24% - 3.27%, 11/14/14 |
|
|
1,970 |
|
|
1,674,436 |
|
|
|
|
Laureate Education, Term Loan B, 7.00%, 12/31/14 |
|
|
2,250 |
|
|
2,168,438 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,842,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Financial Services - 0.4% |
|
Reynolds Group, Term Loan B, 6.25%, 10/28/15 |
|
|
900 |
|
|
897,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Telecommunication Services - 0.6% |
|
Cavtel Holdings, LLC, Term Loan, 10.50%, 12/31/12 |
|
|
425 |
|
|
334,688 |
|
|
|
|
Integra Telecom Holdings, Inc., Term Loan (First Lien), 10.50%, 8/31/13 |
|
|
894 |
|
|
888,507 |
|
|
|
|
PAETEC Holding Corp., Incremental Term Loan, 2.73%, 2/28/13 |
|
|
147 |
|
|
138,317 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,361,512 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Electrical Equipment - 0.2% |
|
Generac Acquisition Corp., Term Loan (First Lien), 2.78%, 11/10/13 |
|
|
554 |
|
|
500,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy Equipment & Services - 0.9% |
|
Dresser, Inc., Term Loan B, 2.52%, 5/04/14 |
|
|
206 |
|
|
188,808 |
|
|
|
|
Dresser, Inc., Term Loan (Second Lien), 5.99% - 6.02%, 5/04/15 |
|
|
1,000 |
|
|
902,500 |
|
|
|
|
MEG Energy Corp., Delayed Draw Term Loan, 2.29%, 4/02/13 |
|
|
492 |
|
|
446,991 |
|
|
|
|
MEG Energy Corp., Initial Term Loan, 2.29%, 4/03/13 |
|
|
483 |
|
|
438,472 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,976,771 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Food & Staples Retailing - 1.6% |
|
McJunkin Corp., Term Loan, 5.50%, 1/31/14 |
|
|
348 |
|
|
331,380 |
|
|
|
|
Pilot Travel Centers Term Loan B, 0.00%, 11/18/15 |
|
|
1,250 |
|
|
1,251,041 |
|
|
|
|
Rite Aid Corp., Tranche 4 Term Loan, 9.50%, 6/10/15 |
|
|
1,200 |
|
|
1,234,000 |
|
|
|
|
SuperValu, Term Loan B, 1.50%, 6/02/12 |
|
|
635 |
|
|
599,916 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,416,337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Food Products - 1.4% |
|
Dole Food Co., Inc., Credit-Linked Deposit, 7.78%, 4/12/13 |
|
|
828 |
|
|
831,598 |
|
6
|
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
|
Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industry |
|
Floating Rate Loan Interests (e) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
Solvest, Ltd. (Dole), Tranche C Term Loan, 8.00%, 4/12/13 |
|
USD |
622 |
|
$ |
625,078 |
|
|
|
|
Wm. Wrigley Jr. Co., Tranche B Term Loan, 6.50%, 9/30/14 |
|
|
1,675 |
|
|
1,679,736 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,136,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care Equipment & Supplies - 0.6% |
|
Biomet, Inc., Dollar Term Loan, 3.25% - 3.29%, 3/25/15 |
|
|
350 |
|
|
330,750 |
|
|
|
|
DJO Finance LLC (ReAble Therapeutics Finance LLC), Term Loan, 3.23% - 3.28%, 5/20/14 |
|
|
983 |
|
|
922,322 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,253,072 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care Providers & Services - 3.4% |
|
CCS Medical, Inc. (Chronic Care), Term Loan (First Lien), 4.35%, 9/30/12 (a)(c) |
|
|
250 |
|
|
130,833 |
|
|
|
|
CCS Medical Return of Capital, 0.00%, 9/30/11 |
|
|
500 |
|
|
261,666 |
|
|
|
|
CHS/Community Health Systems, Inc., Delayed Draw Term Loan, 2.51%, 7/25/14 |
|
|
101 |
|
|
91,860 |
|
|
|
|
CHS/Community Health Systems, Inc., Funded Term Loan, 2.48% - 2.51%, 7/25/14 |
|
|
1,929 |
|
|
1,763,053 |
|
|
|
|
Fresenius SE, Tranche B1 Term Loan, 6.75%, 9/26/14 |
|
|
645 |
|
|
646,403 |
|
|
|
|
Fresenius SE, Tranche B2 Term Loan, 6.75%, 9/26/14 |
|
|
347 |
|
|
348,224 |
|
|
|
|
HCA Inc., Tranche A-1 Term Loan, 1.78%, 11/17/12 |
|
|
3,466 |
|
|
3,218,616 |
|
|
|
|
Vanguard Health Holding Co., II, LLC (Vanguard Health System, Inc.), Replacement Term Loan, 2.48%, 9/23/11 |
|
|
875 |
|
|
847,099 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,307,754 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Hotels, Restaurants & Leisure - 2.9% |
|
Busch Entertainment Corp., Term Loan, 5.75%, 5/05/16 |
|
|
1,250 |
|
|
1,250,313 |
|
|
|
|
Harrah’s Operating Co., Inc., Term Loan B-2, 3.28%, 1/28/15 |
|
|
557 |
|
|
431,484 |
|
|
|
|
Harrah’s Operating, Term Loan B, 9.50%, 10/31/16 |
|
|
1,250 |
|
|
1,209,688 |
|
|
|
|
QCE, LLC (Quiznos), Term Loan (Second Lien), 2.56%, 11/05/13 |
|
|
968 |
|
|
778,434 |
|
|
|
|
Universal City Development Term Loan B, 7.75%, 10/29/14 |
|
|
1,250 |
|
|
1,243,360 |
|
|
|
|
VML US Finance LLC (aka Venetian Macau), New Project Term Loan, 5.79%, 5/25/13 |
|
|
995 |
|
|
940,690 |
|
|
|
|
VML US Finance LLC (aka Venetian Macau), Term B Delayed Draw Project Loan, 5.79%, 5/25/12 |
|
|
249 |
|
|
235,172 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,089,141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services - 2.4% |
|
Audio Visual Services Group, Inc., Loan (Second Lien), 6.79%, 8/28/14 (g) |
|
|
529 |
|
|
52,933 |
|
|
|
|
Audio Visual Services Group, Inc., Tranche B Term Loan (First Lien), 2.54%, 2/28/14 |
|
|
997 |
|
|
683,257 |
|
|
|
|
Ceridian Corp, U.S. Term Loan, 3.24% - 3.28%, 11/09/14 |
|
|
1,483 |
|
|
1,278,436 |
|
|
|
|
First Data Corp., Initial Tranche B-2 Term Loan, 3.03% - 3.04%, 9/24/14 |
|
|
1,474 |
|
|
1,224,527 |
|
|
|
|
First Data Corp., Initial Tranche B-3 Term Loan, 3.03% - 3.04%, 9/24/14 |
|
|
390 |
|
|
323,440 |
|
|
|
|
RedPrairie Corp., Tack-on Loan, 3.38%, 7/20/12 |
|
|
260 |
|
|
243,983 |
|
7
|
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
|
Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industry |
|
Floating Rate Loan Interests (e) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
RedPrairie Corp., Term Loan B, 3.31% - 5.25%, 7/20/12 |
|
USD |
605 |
|
$ |
568,608 |
|
|
|
|
SunGard Data Systems Inc. (Solar Capital Corp.), Incremental Term Loan, 6.75%, 2/28/14 |
|
|
748 |
|
|
752,225 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,127,409 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Power Producers & Energy Traders - 0.5% |
|
Dynegy Holdings Inc., Term Letter of Credit Facility Term Loan, 3.99%, 4/02/13 |
|
|
463 |
|
|
436,829 |
|
|
|
|
Dynegy Holdings Inc., Tranche B Term Loan, 3.99%, 4/02/13 |
|
|
37 |
|
|
35,255 |
|
|
|
|
Texas Competitive Electric Holdings Co., LLC (TXU), Initial Tranche B-2 Term Loan, 3.74% - 3.78%, 10/10/14 |
|
|
485 |
|
|
361,302 |
|
|
|
|
Texas Competitive Electric Holdings Co., LLC (TXU), Initial Tranche B-3 Term Loan, 3.74% - 3.78%, 10/10/14 |
|
|
228 |
|
|
168,165 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,001,551 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial Conglomerates - 0.2% |
|
Sequa Corp., Term Loan, 3.58% - 3.94%, 12/03/14 |
|
|
450 |
|
|
388,688 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Insurance - 0.1% |
|
Alliant Holdings I, Inc., Term Loan, 3.28%, 8/21/14 |
|
|
143 |
|
|
129,106 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Internet & Catalog Retail - 0.3% |
|
FTD Group, Inc., Tranche B Term Loan, 6.75%, 8/26/14 |
|
|
688 |
|
|
682,799 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Leisure Equipment & Products - 0.8% |
|
Fender Musical Instruments Corp., Delayed Draw Loan, 2.54%, 6/09/14 |
|
|
659 |
|
|
556,756 |
|
|
|
|
Fender Musical Instruments Corp., Initial Loan, 2.54%, 6/09/14 |
|
|
1,304 |
|
|
1,102,236 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,658,992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Life Sciences Tools & Services - 0.3% |
|
Life Technologies Corp., Term B Facility, 5.25%, 11/23/15 |
|
|
597 |
|
|
596,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Machinery - 1.4% |
|
LN Acquisition Corp. (Lincoln Industrial), Initial Term Loan (Second Lien), 6.04%, 1/09/15 |
|
|
1,000 |
|
|
660,000 |
|
|
|
|
Navistar Financial Corp., Tranche A Term Loan, 2.25%, 3/27/10 |
|
|
750 |
|
|
737,813 |
|
|
|
|
Oshkosh Truck Corp., Term B Loan, 6.29% - 6.33%, 12/06/13 |
|
|
1,582 |
|
|
1,576,446 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,974,259 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Media - 11.7% |
|
Affinion Group Holdings, Inc., Loan, 8.27%, 3/01/12 (g) |
|
|
1,420 |
|
|
1,260,517 |
|
|
|
|
Cengage Learning Acquisitions, Inc. (Thomson Learning), Tranche 1 Incremental Term Loan, 7.50%, 7/03/14 |
|
|
4,090 |
|
|
4,023,190 |
|
|
|
|
Cequel Communications, LLC, Term Loan, 2.26% - 4.25%, 11/05/13 |
|
|
1,397 |
|
|
1,288,577 |
|
|
|
|
Cequel Communications, LLC, Tranche B Term Loan (Second Lien), 6.26%, 5/05/14 |
|
|
1,413 |
|
|
1,405,818 |
|
|
|
|
Charter Communications, Term Loan B1, 7.25%, 3/25/14 |
|
|
1,000 |
|
|
1,010,000 |
|
|
|
|
Ellis Communications KDOC, LLC, Loan, 10.00%, 12/30/11 |
|
|
3,879 |
|
|
1,086,013 |
|
|
|
|
HMH Publishing Co., Ltd., Tranche A Term Loan, 5.28%, 6/12/14 |
|
|
4,656 |
|
|
3,951,967 |
|
8
|
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
|
Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industry |
|
Floating Rate Loan Interests (e) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
Hanley-Wood, LLC (FSC Acquisition), Term Loan, 2.48% - 2.53%, 3/08/14 |
|
USD |
983 |
|
$ |
412,650 |
|
|
|
|
Lamar Media Corp., Series B Incremental Loan, 5.50%, 9/28/12 |
|
|
1,325 |
|
|
1,314,201 |
|
|
|
|
Lamar Media Corp., Term Loan, 5.50%, 9/30/12 |
|
|
236 |
|
|
234,376 |
|
|
|
|
MCC Iowa LLC (Mediacom Broadband Group), Tranche E Term Loan, 6.50%, 1/03/16 |
|
|
274 |
|
|
274,477 |
|
|
|
|
Mediacom Illinois, LLC (fka Mediacom Communications, LLC), Tranche D Term Loan, 5.50%, 3/31/17 |
|
|
500 |
|
|
498,125 |
|
|
|
|
Newsday, LLC, Fixed Rate Term Loan, 10.50%, 8/01/13 |
|
|
3,250 |
|
|
3,401,668 |
|
|
|
|
Penton Media, Inc., Term Loan (First Lien), 2.48% - 2.53%, 2/01/13 |
|
|
731 |
|
|
478,055 |
|
|
|
|
Sinclair Broadcast Group, Term Loan B, 6.50%, 10/16/15 |
|
|
500 |
|
|
500,209 |
|
|
|
|
Sunshine Acquisition Ltd., (aka HIT Entertainment), Term Facility, 2.53%, 3/20/12 |
|
|
1,200 |
|
|
1,029,000 |
|
|
|
|
United Pan Europe Communications, Term Loan, 3.74%, 12/31/16 |
|
|
1,750 |
|
|
1,663,375 |
|
|
|
|
World Color Press Inc. and World Color (USA) Corp. (fka Quebecor World Inc.), Advance, 9.00%, 7/23/12 |
|
|
499 |
|
|
500,345 |
|
|
|
|
Yell Group Plc TPI, Term Loan A, 7.12%, 8/09/11 |
|
|
750 |
|
|
686,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,018,813 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Metals & Mining - 1.3% |
|
Euramax International, Inc., Domestic Term Loan, 10.00%, 6/29/13 (g) |
|
|
858 |
|
|
531,788 |
|
|
|
|
Euramax International, Inc., Domestic Term Loan, 14.00%, 6/29/13 (g) |
|
|
863 |
|
|
535,349 |
|
|
|
|
RathGibson, Inc., Debtor in Possession Loan, 10.50% - 10.75%, 2/10/10 |
|
|
1,796 |
|
|
1,795,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,862,697 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Multi-Utilities - 0.4% |
|
FirstLight Power Resources, Inc. (fka NE Energy, Inc.), Synthetic Letter of Credit, 2.81%, 11/01/13 |
|
|
103 |
|
|
93,545 |
|
|
|
|
FirstLight Power Resources, Inc. (fka NE Energy, Inc.), Term B Advance (First Lien), 2.81%, 11/01/13 |
|
|
797 |
|
|
726,018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
819,563 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Multiline Retail - 0.4% |
|
Dollar General Corp., Tranche B-2 Term Loan, 2.98%, 7/07/14 |
|
|
748 |
|
|
696,483 |
|
|
|
|
The Neiman Marcus Group Inc., Term Loan, 2.24% - 2.32%, 4/06/13 |
|
|
130 |
|
|
110,572 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
807,055 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil, Gas & Consumable Fuels - 0.9% |
|
Big West Oil, LLC, Delayed Advance Loan, 4.50%, 5/15/14 |
|
|
546 |
|
|
518,862 |
|
|
|
|
Big West Oil, LLC, Initial Advance Loan, 4.50%, 5/15/14 |
|
|
434 |
|
|
412,731 |
|
|
|
|
ScorpionDrilling Ltd., Loan (Second Lien), 7.78%, 5/08/14 |
|
|
1,145 |
|
|
1,059,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,990,718 |
|
|
|
|
|
|
|
|
|
|
|
|
9
|
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
|
Schedule of Investments November 30, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industry |
|
Floating Rate Loan Interests (e) |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
Packaging - 0.2% |
|
Berry Plastics Corp., Term Loan C, 2.30%, 4/02/15 |
|
USD |
500 |
|
$ |
420,416 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Paper & Forest Products - 0.2% |
|
Georgia-Pacific LLC, Term Loan B, 2.24% - 2.30%, 12/22/12 |
|
|
515 |
|
|
489,135 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Personal Products - 0.2% |
|
American Safety Razor, Term Loan (First Lien), 2.79%, 7/25/13 |
|
|
250 |
|
|
234,583 |
|
|
|
|
American Safety Razor Co., LLC, Loan (Second Lien), 6.54%, 1/30/14 |
|
|
175 |
|
|
143,792 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
378,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals - 0.8% |
|
Warner Chilcott, Term Loan A, 5.50%, 10/14/14 |
|
|
644 |
|
|
641,649 |
|
|
|
|
Warner Chilcott, Term Loan B, 5.75%, 3/30/15 |
|
|
322 |
|
|
320,824 |
|
|
|
|
Warner Chilcott, Term Loan B1, 5.75%, 4/30/15 |
|
|
708 |
|
|
705,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,668,287 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate Management & Development - 1.2% |
|
Realogy Corp., Synthetic Letter of Credit, 3.24%, 10/10/13 |
|
|
2,933 |
|
|
2,486,517 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Specialty Retail - 0.6% |
|
Adesa, Inc. (KAR Holdings, Inc.), Initial Term Loan, 2.49%, 10/21/13 |
|
|
750 |
|
|
688,750 |
|
|
|
|
Michaels Stores, Inc., Term Loan B, 2.56%, 10/31/13 |
|
|
308 |
|
|
265,243 |
|
|
|
|
Michaels Stores, Inc., Term Loan B, 4.81%, 7/31/16 |
|
|
415 |
|
|
368,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,322,185 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Wireless Telecommunication Services - 0.8% |
|
Digicel International Finance Ltd., Tranche A, 2.81%, 3/30/12 |
|
|
1,283 |
|
|
1,228,808 |
|
|
|
|
MetroPCS Wireless, Inc., Tranche B Term Loan, 2.50% - 2.56%, 11/03/13 |
|
|
500 |
|
|
460,625 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,689,433 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Floating Rate Loan Interests - 50.2% |
|
|
|
|
|
107,083,892 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Interests (i) |
|
Beneficial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto Components - 0.1% |
|
Internet Liquidating Trust, Class A |
|
|
649 |
|
|
194,641 |
|
|
|
|
Lear Corp. Escrow |
|
|
555 |
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
194,647 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Financial Services - 0.4% |
|
JG Wentworth LLC Preferred Equity Interests |
|
|
— |
(j) |
|
860,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Media - 0.0% |
|
Adelphia Preferred Escrow |
|
|
3 |
|
|
— |
|
|
|
|
Adelphia Recovery Trust, Series ACC-6B INT |
|
|
250 |
|
|
25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Interests - 0.5% |
|
|
|
|
|
1,055,526 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants (k) |
|
Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto Components - 0.1% |
|
Lear Corp. (expires 11/09/14) |
|
|
2,175 |
|
|
133,786 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Warrants - 0.1% |
|
|
|
|
|
133,786 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Long-Term Investments |
|
|
|
|
|
247,518,442 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-Term Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.16% (l)(m) |
|
|
2,851,401 |
|
|
2,851,401 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Short-Term Securities |
|
|
|
|
|
2,851,401 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Investments |
|
|
|
|
|
250,369,843 |
|
|
|
|
Liabilities in Excess of Other Assets - (17.3)% |
|
|
|
|
|
(37,008,089 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets - 100.0% |
|
|
|
|
$ |
213,361,754 |
|
|
|
|
|
|
|
|
|
|
|
|
10
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
Schedule of Investments November 30, 2009 (Unaudited) |
|
|
|
|
|
|
* |
The cost and unrealized appreciation (depreciation) of investments as of November 30, 2009, as computed for federal income tax purposes, were as follows: |
|
|
|
|
|
|
|
Aggregate cost |
|
$ |
287,502,611 |
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
7,866,683 |
|
|
Gross unrealized depreciation |
|
|
(44,999,451 |
) |
|
|
|
|
|
|
|
Net unrealized depreciation |
|
$ |
(37,132,768 |
) |
|
|
|
|
|
|
|
|
|
|
(a) |
Non-income producing security. |
|
|
|
|
(b) |
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. |
|
|
|
|
(c) |
Issuer filed for bankruptcy and/or is in default of interest payments. |
|
|
|
|
(d) |
As a result of bankruptcy proceedings, the company did not repay the principal amount of the security upon maturity. |
|
|
|
|
(e) |
Variable rate security. Rate shown is as of report date. |
|
|
|
|
(f) |
Convertible security. |
|
|
|
|
(g) |
Represents a payment-in-kind security which may pay interest/dividends in additional par/shares. |
|
|
|
|
(h) |
Represents a step-down bond that pays an initial coupon rate for the first period and then a lower coupon rate for the following periods. Rate shown reflects the current yield as of report date. |
|
|
|
|
(i) |
Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income producing. |
|
|
|
|
(j) |
Amount is less than $1,000. |
|
|
|
|
(k) |
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. |
|
|
|
|
(l) |
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: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Affiliate |
|
Net |
|
Income |
|
||
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds, TempFund, Institutional Class |
|
USD |
2,851,401 |
|
$ |
5,897 |
|
|
BlackRock Liquidity Series, LLC Cash Sweep Series |
|
USD |
(4,346,896 |
) |
$ |
1,670 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(m) |
Represents the current yield as of report date. |
|
|
|
|
• |
For Fund compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. |
|
|
|
|
• |
Foreign currency exchange contracts as of November 30, 2009 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Currency |
|
Currency |
|
Settlement |
|
Counterparty |
|
Unrealized |
|
|||
|
|
|
|
|
|
|
|
|
|
|
|||
|
USD |
576,268 |
|
CAD |
599,500 |
|
1/27/10 |
|
Citibank NA |
|
$ |
8,242 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
Schedule of Investments November 30, 2009 (Unaudited) |
|
|
|
|
|
|
• |
Credit default swaps on single-name issues — buy protection outstanding as of November 30, 2009 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Issuer |
|
Pay |
|
Counterparty |
|
Expiration |
|
Notional |
|
Unrealized |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
K Hovnanian Enterprises, Inc. |
|
5.00 |
% |
Goldman Sachs International |
|
December 2011 |
|
USD |
460 |
|
$ |
(6,163 |
) |
|
Masco Corp. |
|
5.30 |
% |
JPMorgan Chase Bank NA |
|
March 2014 |
|
USD |
1,000 |
|
|
(116,579 |
) |
|
Mohawk Industries, Inc. |
|
4.45 |
% |
JPMorgan Chase Bank NA |
|
March 2014 |
|
USD |
1,000 |
|
|
(85,020 |
) |
|
Ford Motor Co. |
|
5.00 |
% |
Deutsche Bank AG |
|
September 2014 |
|
USD |
725 |
|
|
4,093 |
|
|
Boston Scientific Corp. |
|
1.00 |
% |
Goldman Sachs Bank USA |
|
December 2014 |
|
USD |
500 |
|
|
6,020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
$ |
(197,649 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
• |
Currency Abbreviations: |
|
|
|
|
|
|
|
CAD Canadian Dollar |
|
|
|
USD US Dollar |
|
|
|
|
|
|
• |
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 assets and liabilities |
|
|
|
|
|
|
• |
Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or 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 circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions 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, 2009 in determining the fair valuation of the Fund’s investments: |
|
12
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
Schedule of Investments November 30, 2009 (Unaudited) |
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
Investments in |
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
Level 1 |
|
|
|
|
|
Long-Term Investments: |
|
|
|
|
|
Common Stocks |
|
$ |
2,980,425 |
|
|
Short-Term Securities |
|
|
2,851,401 |
|
|
|
|
|
|
|
|
Total Level 1 |
|
|
5,831,826 |
|
|
|
|
|
|
|
|
Level 2 |
|
|
|
|
|
Long-Term Investments: |
|
|
|
|
|
Common Stocks |
|
|
968,707 |
|
|
Corporate Bonds |
|
|
126,653,528 |
|
|
Floating Rate Loan Interests |
|
|
76,720,978 |
|
|
Warrants |
|
|
133,786 |
|
|
|
|
|
|
|
|
Total Level 2 |
|
|
204,476,999 |
|
|
|
|
|
|
|
|
Level 3 |
|
|
|
|
|
Long-Term Investments: |
|
|
|
|
|
Common Stocks |
|
|
84,023 |
|
|
Corporate Bonds |
|
|
8,558,555 |
|
|
Floating Rate Loan Interests |
|
|
30,362,914 |
|
|
Other Interests |
|
|
1,055,526 |
|
|
|
|
|
|
|
|
Total Level 3 |
|
|
40,061,018 |
|
|
|
|
|
|
|
|
Total |
|
$ |
250,369,843 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
Other Financial Instruments1 |
|
||||
|
|
|
|
|
||||
|
|
|
Assets |
|
Liabilities |
|
||
|
|
|
|
|
|
|
||
|
Level 1 |
|
|
— |
|
|
— |
|
|
Level 2 |
|
$ |
18,355 |
|
$ |
(207,762 |
) |
|
Level 3 |
|
|
— |
|
|
(10,617 |
) |
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
18,355 |
|
$ |
(218,379 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1Other financial instruments are foreign currency exchange contracts, swaps and unfunded loan commitments which are shown at the unrealized appreciation/depreciation on the instrument. |
|
|
|
|
|
The following is a reconciliation of investments for unobservable inputs (Level 3) used in determining fair value: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
Investment in Securities |
|
|||||||||||||
|
|
|
|
|
|||||||||||||
|
|
|
Common |
|
Corporate |
|
Floating Rate |
|
Other |
|
Total |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, as of February 28, 2009 |
|
$ |
55,976 |
|
$ |
8,229,614 |
|
$ |
44,351,082 |
|
$ |
25 |
|
$ |
52,636,697 |
|
|
Accrued discounts/premiums |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Realized gain (loss) |
|
|
— |
|
|
— |
|
|
(8,436,486 |
) |
|
— |
|
|
(8,436,486 |
) |
|
Change in unrealized appreciation/Depreciation2 |
|
|
— |
|
|
888,600 |
|
|
24,467,337 |
|
|
— |
|
|
25,355,937 |
|
|
Net purchases (sales) |
|
|
— |
|
|
(3,469,432 |
) |
|
(25,790,800 |
) |
|
(6,000 |
) |
|
(29,266,232 |
) |
|
Net transfers in/out of Level 3 |
|
|
28,047 |
|
|
2,909,773 |
|
|
(4,228,219 |
) |
|
1,061,501 |
|
|
(228,898 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, as of November 30, 2009 |
|
$ |
84,023 |
|
$ |
8,558,555 |
|
$ |
30,362,914 |
|
$ |
1,055,526 |
|
$ |
40,061,018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2The change in unrealized appreciation/depreciation on securities still held at November 30, 2009 was $7,861,549. |
13
|
|
|
BlackRock Senior High Income Fund, Inc. (ARK) |
|
Schedule of Investments November 30, 2009 (Unaudited) |
|
|
|
|
|
|
|
The following is a reconciliation of other financial instruments for unobservable inputs (Level 3) used in determining fair value: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Financial |
|
|
|
|
|
|
|
|
|
Balance, as of February 28, 2009 |
|
|
— |
|
|
Accrued discounts/premiums |
|
|
— |
|
|
Realized gain (loss) |
|
|
— |
|
|
Change in unrealized appreciation/depreciation |
|
|
— |
|
|
Net purchases (sales) |
|
|
— |
|
|
Net transfers in/out of Level 3 |
|
$ |
(10,617 |
) |
|
|
|
|
|
|
|
Balance, as of November 30, 2009 |
|
$ |
(10,617 |
) |
|
|
|
|
|
|
|
|
|
|
|
1Other financial instruments are unfunded loan commitments. |
14
|
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 13(a)-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/ Anne F. Ackerley | ||
| Anne F. Ackerley | |||
| Chief Executive Officer of | |||
| BlackRock Senior High Income Fund, Inc. | |||
| Date: January 22, 2010 | |||
| 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/ Anne F. Ackerley | ||
| Anne F. Ackerley | |||
| Chief Executive Officer (principal executive officer) of | |||
| BlackRock Senior High Income Fund, Inc. | |||
| Date: January 22, 2010 | |||
| By: | /s/ Neal J. Andrews | ||
| Neal J. Andrews | |||
| Chief Financial Officer (principal financial officer) of | |||
| BlackRock Senior High Income Fund, Inc. | |||
| Date: January 22, 2010 | |||