Edgar Filing: BLACKROCK SENIOR HIGH INCOME FUND, INC.

BLACKROCK SENIOR HIGH INCOME FUND, INC.

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: John M. Perlowski, Chief Executive Officer, BlackRock Senior High

Income Fund, Inc., 55 East 52^nd Street, New York, NY 10055

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

Date of fiscal year end: 02/28/2014

Date of reporting period: 11/30/2013

Item 1 – Schedule of Investments

Consolidated Schedule of Investments November 30, 2013 (Unaudited)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Chemicals — 0.0%
GEO Specialty Chemicals, Inc. (a)(b)		142,466	$	121,096
Containers & Packaging — 0.2%
Smurfit Kappa Group PLC		18,171		431,494
Metals & Mining — 0.1%
Euramax International		935		224,376
Paper & Forest Products — 0.7%
Ainsworth Lumber Co., Ltd. (a)		258,827		937,306
Ainsworth Lumber Co., Ltd. (a)(b)(c)		191,008		688,787

				1,626,093
Software — 0.3%
HMH Holdings/EduMedia (a)		54,143		839,216
Total Common Stocks — 1.3%				3,242,275


Asset-Backed Securities	Par (000)
ACAS CLO Ltd., Series 2013-1A, Class D, 3.84%, 4/20/25 (b)(d)	$	250		238,750
ALM Loan Funding (b)(d):
Series 2013-7R2A, Class B, 2.86%, 4/24/24		325		314,665
Series 2013-7RA, Class C, 3.71%, 4/24/24		910		880,516
Series 2013-7RA, Class D, 5.26%, 4/24/24		400		367,880
Atrium CDO Corp., Series 9A, Class D, 3.74%, 2/28/24 (b)(d)		250		239,125
Carlyle Global Market Strategies CLO Ltd., Series 2012-4A, Class D, 4.74%, 1/20/25 (b)(d)		300		303,573
CFIP CLO Ltd., Series 2013-1A, Class D, 3.99%, 4/20/24 (b)(d)		500		480,480
Fraser Sullivan CLO VII Ltd., Series 2012-7A, Class C, 4.24%, 4/20/23 (b)(d)		405		401,720
Highbridge Loan Management Ltd., Series 2012-1A, Class C, 5.25%, 9/20/22 (b)(d)		650		652,275
LCM IX LP, Series 9A, Class E, 4.44%, 7/14/22 (b)(d)		500		470,250
Madison Park Funding XI Ltd., Series 2013-11A, Class D, 3.80%, 10/23/25 (b)(d)		250		237,400
Asset-Backed Securities	Par (000)		Value
Mountain View CLO Ltd., Series 2013-1A, Class D, 3.54%, 4/12/24 (b)(d)	$	500	$	471,250
Regatta Funding LP, Series 2013-2A, Class C, 4.24%, 1/15/25 (b)(d)		750		743,025
Symphony CLO Ltd., Series 2012-10A, Class D, 5.49%, 7/23/23 (b)(d)		650		653,250

Total Asset-Backed Securities — 2.7%				6,454,159


Corporate Bonds
Aerospace & Defense — 0.6%
DigitalGlobe, Inc., 5.25%, 2/01/21 (b)		351		342,225
Huntington Ingalls Industries, Inc., 7.13%, 3/15/21		375		408,750
Kratos Defense & Security Solutions, Inc., 10.00%, 6/01/17		692		749,090

				1,500,065
Airlines — 1.1%
Air Canada Pass-Through Trust, Series 2013-1, Class C, 6.63%, 5/15/18 (b)		243		241,785
Continental Airlines Pass-Through Trust, Series 2012-3, Class C, 6.13%, 4/29/18		780		807,300
Delta Air Lines Pass-Through Trust, Series 2009-1, Class B, 9.75%, 6/17/18		79		89,428
United Continental Holdings, Inc., 6.00%, 12/01/20		355		353,225
US Airways Pass-Through Trust, Series 2013-1, Class B, 5.38%, 5/15/23		795		773,138
Virgin Australia Trust, Series 2013-1, Class C, 7.13%, 10/23/18 (b)		465		466,706

				2,731,582
Auto Components — 1.5%
Affinia Group, Inc., 7.75%, 5/01/21 (b)		410		428,450
Delphi Corp., 6.13%, 5/15/21		130		143,000
Icahn Enterprises LP/Icahn Enterprise Finance Corp., 7.75%, 1/15/16		110		112,750
Icahn Enterprises LP/Icahn Enterprises Finance Corp., 8.00%, 1/15/18		2,065		2,155,344



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	1

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Auto Components (concluded)
Pittsburgh Glass Works LLC, 8.00%, 11/15/18 (b)	$	160	$	166,400
Schaeffler Holding Finance BV, 6.88%, 8/15/18 (b)(c)		410		436,650
Titan International, Inc., 6.88%, 10/01/20 (b)		210		216,825
Venture Holdings Co. LLC (a)(e):
12.00%, 7/01/49		700		—
Series B, 9.50%, 7/01/05		3,325		—

				3,659,419
Automobiles — 0.4%
Ford Motor Co., 4.25%, 11/15/16 (f)		164		331,793
General Motors Co. (b):
4.88%, 10/02/23		165		166,031
6.25%, 10/02/43		440		446,600

				944,424
Beverages — 0.0%
Constellation Brands, Inc., 7.25%, 5/15/17		30		34,763
Building Materials — 0.1%
Momentive Performance Materials, Inc., 8.88%, 10/15/20		195		205,238
Building Products — 0.6%
American Builders & Contractors Supply Co., Inc., 5.63%, 4/15/21 (b)		155		156,937
Building Materials Corp. of America (b):
7.00%, 2/15/20		485		521,375
6.75%, 5/01/21		410		441,775
Texas Industries, Inc., 9.25%, 8/15/20		196		215,110

				1,335,197
Capital Markets — 0.2%
American Capital Ltd., 6.50%, 9/15/18 (b)		365		378,231
KCG Holdings, Inc., 8.25%, 6/15/18 (b)		90		92,588

				470,819
Chemicals — 2.7%
Ashland, Inc., 3.88%, 4/15/18		255		256,275
Chemtura Corp., 5.75%, 7/15/21		76		76,950
GEO Specialty Chemicals, Inc., 7.50%, 3/31/15 (b)		1,869		4,129,657
Huntsman International LLC, 8.63%, 3/15/21		395		442,400
Corporate Bonds	Par (000)		Value
Chemicals (concluded)
INEOS Finance PLC, 7.50%, 5/01/20 (b)	$	125	$	136,875
INEOS Group Holdings SA, 6.13%, 8/15/18 (b)		255		256,594
LSB Industries, Inc., 7.75%, 8/01/19 (b)		113		117,802
NOVA Chemicals Corp., 8.63%, 11/01/19		188		207,270
Nufarm Australia Ltd., 6.38%, 10/15/19 (b)		120		124,200
Orion Engineered Carbons Bondco GmbH, 9.63%, 6/15/18 (b)		400		442,000
PetroLogistics LP/PetroLogistics Finance Corp., 6.25%, 4/01/20 (b)		98		98,368
US Coatings Acquisition, Inc., 7.38%, 5/01/21 (b)		151		160,060

				6,448,451
Commercial Banks — 0.7%
CIT Group, Inc.:
5.00%, 5/15/17		330		352,275
6.63%, 4/01/18 (b)		65		73,450
5.50%, 2/15/19 (b)		994		1,071,035
Sally Holdings LLC / Sally Capital, Inc., 5.50%, 11/01/23		190		189,050

				1,685,810
Commercial Services & Supplies — 2.5%
ACCO Brands Corp., 6.75%, 4/30/20		113		112,576
The ADT Corp., 6.25%, 10/15/21 (b)		152		158,650
ARAMARK Corp., 5.75%, 3/15/20 (b)		547		570,247
AWAS Aviation Capital Ltd., 7.00%, 10/17/16 (b)		416		431,401
Brickman Group Holdings, Inc., 9.13%, 11/01/18 (b)		25		26,721
Catalent Pharma Solutions, Inc., 7.88%, 10/15/18		114		115,995
Covanta Holding Corp., 6.38%, 10/01/22		420		432,796
The Geo Group, Inc., 5.88%, 1/15/22 (b)		125		125,000
Interactive Data Corp., 10.25%, 8/01/18		810		912,303
Mobile Mini, Inc., 7.88%, 12/01/20		335		369,338
United Rentals North America, Inc.:
5.75%, 7/15/18		462		496,072
7.38%, 5/15/20		230		257,025



2	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Commercial Services & Supplies (concluded)
United Rentals North America, Inc. (concluded):
7.63%, 4/15/22	$	1,656	$	1,854,720
West Corp., 8.63%, 10/01/18		165		179,644

				6,042,488
Communications Equipment — 0.8%
Alcatel-Lucent USA, Inc., 6.75%, 11/15/20 (b)		345		348,019
Avaya, Inc., 7.00%, 4/01/19 (b)		264		256,740
Zayo Group LLC/Zayo Capital, Inc., 8.13%, 1/01/20		1,110		1,223,775

				1,828,534
Construction & Engineering — 0.1%
Safway Group Holding LLC/Safway Finance Corp., 7.00%, 5/15/18 (b)		200		209,500
Weekley Homes LLC/Weekley Finance Corp., 6.00%, 2/01/23 (b)		120		115,200

				324,700
Construction Materials — 1.0%
HD Supply, Inc., 8.13%, 4/15/19		2,080		2,321,800
Consumer Finance — 0.2%
Ford Motor Credit Co. LLC:
7.00%, 4/15/15		140		151,499
6.63%, 8/15/17		300		350,399

				501,898
Containers & Packaging — 0.4%
Ball Corp., 6.75%, 9/15/20		325		353,438
Crown Americas LLC/Crown Americas Capital Corp. III, 6.25%, 2/01/21		589		636,120

				989,558
Distributors — 0.1%
VWR Funding, Inc., 7.25%, 9/15/17		323		345,610
Diversified Consumer Services — 0.2%
APX Group, Inc., 6.38%, 12/01/19		321		324,210
Rent-A-Center, Inc., 4.75%, 5/01/21		256		240,000

				564,210
Diversified Financial Services — 3.9%
Aircastle Ltd., 6.25%, 12/01/19		136		146,880
Ally Financial, Inc.:
8.30%, 2/12/15		2,420		2,613,600
8.00%, 11/01/31		1,383		1,645,675
Corporate Bonds	Par (000)		Value
Diversified Financial Services (concluded)
DPL, Inc.:
6.50%, 10/15/16	$	26	$	28,080
7.25%, 10/15/21		69		70,380
Jefferies Finance LLC/JFIN Co-Issuer Corp., 7.38%, 4/01/20 (b)		210		217,613
Jefferies LoanCore LLC/JLC Finance Corp., 6.88%, 6/01/20 (b)		200		197,500
Reynolds Group Issuer, Inc.:
7.13%, 4/15/19		1,347		1,441,290
9.88%, 8/15/19		510		566,100
5.75%, 10/15/20		1,810		1,855,250
6.88%, 2/15/21		400		432,000
WMG Acquisition Corp., 11.50%, 10/01/18		281		325,257

				9,539,625
Diversified Telecommunication Services — 1.6%
CenturyLink, Inc., Series V, 5.63%, 4/01/20		342		347,985
Level 3 Financing, Inc.:
3.83%, 1/15/18 (b)(d)		220		221,650
8.13%, 7/01/19		2,768		3,030,960
7.00%, 6/01/20		184		195,040
Windstream Corp., 7.75%, 10/15/20		18		19,260

				3,814,895
Electric Utilities — 0.1%
Mirant Mid Atlantic Pass Through Trust B, Series B, 9.13%, 6/30/17		197		208,227
Electrical Equipment — 0.1%
General Cable Corp., 6.50%, 10/01/22 (b)		350		346,500
Energy Equipment & Services — 2.8%
Calfrac Holdings LP, 7.50%, 12/01/20 (b)		765		774,562
CGG (FKA Compagnie Generale de Geophysique, Veritas), 6.50%, 6/01/21		1,105		1,135,387
Gulfmark Offshore, Inc., 6.38%, 3/15/22		70		71,050
Hornbeck Offshore Services, Inc., 5.88%, 4/01/20		140		144,200
MEG Energy Corp., 6.50%, 3/15/21 (b)		890		925,600
Oil States International, Inc.:
6.50%, 6/01/19		711		756,326
5.13%, 1/15/23		339		380,528
Peabody Energy Corp.:
6.00%, 11/15/18		523		555,688



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	3

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Energy Equipment & Services (concluded)
Peabody Energy Corp. (concluded):
6.25%, 11/15/21	$	522	$	533,745
Precision Drilling Corp.:
6.63%, 11/15/20		65		69,388
6.50%, 12/15/21		270		288,225
Rain CII Carbon LLC/CII Carbon Corp., 8.25%, 1/15/21 (b)		200		205,000
Seadrill Ltd., 5.63%, 9/15/17 (b)		963		989,482

				6,829,181
Food Products — 0.2%
Post Holdings, Inc., 6.75%, 12/01/21 (b)		94		95,880
Smithfield Foods, Inc., 6.63%, 8/15/22		295		311,594
Sun Merger Sub, Inc. (b):
5.25%, 8/01/18		78		81,510
5.88%, 8/01/21		73		75,555

				564,539
Gas Utilities — 0.3%
Targa Resources Partners LP/Targa Resources Partners Finance Corp., 7.88%, 10/15/18		570		618,450
Health Care Equipment & Supplies — 0.6%
Biomet, Inc.:
6.50%, 8/01/20		640		678,400
6.50%, 10/01/20		395		410,800
DJO Finance LLC/DJO Finance Corp., 8.75%, 3/15/18		185		202,575
Teleflex, Inc., 6.88%, 6/01/19		250		262,500

				1,554,275
Health Care Providers & Services — 1.9%
Aviv Healthcare Properties LP/Aviv Healthcare Capital Corp.:
7.75%, 2/15/19		365		392,375
6.00%, 10/15/21 (b)		87		89,175
CHS/Community Health Systems, Inc., 5.13%, 8/15/18		185		192,400
HCA, Inc., 7.88%, 2/15/20		1,349		1,455,234
Hologic, Inc., 6.25%, 8/01/20		716		755,380
LifePoint Hospitals, Inc., 5.50%, 12/01/21 (b)(g)		87		87,435
Tenet Healthcare Corp.:
6.25%, 11/01/18		425		465,375
8.00%, 8/01/20		199		216,910
6.00%, 10/01/20 (b)		173		180,785
4.38%, 10/01/21 (b)		323		303,620
Corporate Bonds	Par (000)		Value
Health Care Providers & Services (concluded)
Tenet Healthcare Corp. (concluded):
8.13%, 4/01/22	$	452	$	490,420

				4,629,109
Health Care Technology — 0.8%
IMS Health, Inc., 12.50%, 3/01/18 (b)		1,730		2,041,400
Hotels, Restaurants & Leisure — 1.2%
Carlson Wagonlit BV, 6.88%, 6/15/19 (b)		200		207,000
Diamond Resorts Corp., 12.00%, 8/15/18		540		599,400
GLP Capital LP/GLP Financing II, Inc. (b):
4.38%, 11/01/18		134		136,680
4.88%, 11/01/20		172		171,570
Isle of Capri Casinos, Inc.:
7.75%, 3/15/19		25		26,750
5.88%, 3/15/21		110		106,700
Little Traverse Bay Bands of Odawa Indians, 9.00%, 8/31/20 (b)		282		276,360
MCE Finance Ltd., 5.00%, 2/15/21 (b)		352		340,560
PNK Finance Corp., 6.38%, 8/01/21 (b)		195		201,338
Sabre, Inc., 8.50%, 5/15/19 (b)		300		331,875
Six Flags Entertainment Corp., 5.25%, 1/15/21 (b)		218		213,640
Tropicana Entertainment LLC/Tropicana Finance Corp., 9.63%, 12/15/14 (a)(e)		220		—
Wynn Macau Ltd., 5.25%, 10/15/21 (b)		205		207,050

				2,818,923
Household Durables — 1.6%
Ashton Woods USA LLC/Ashton Woods Finance Co., 6.88%, 2/15/21 (b)		190		186,200
Beazer Homes USA, Inc., 6.63%, 4/15/18		340		365,500
Brookfield Residential Properties, Inc., 6.50%, 12/15/20 (b)		345		359,663
Brookfield Residential Properties, Inc./Brookfield Residential US Corp., 6.13%, 7/01/22 (b)		97		96,515
K Hovnanian Enterprises, Inc., 7.25%, 10/15/20 (b)		795		840,712
KB Home, 7.25%, 6/15/18		330		361,350
Libbey Glass, Inc., 6.88%, 5/15/20		80		85,400



4	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Household Durables (concluded)
Standard Pacific Corp., 8.38%, 1/15/21	$	1,120	$	1,288,000
Taylor Morrison Communities, Inc./Monarch Communities, Inc., 5.25%, 4/15/21 (b)		223		215,195

				3,798,535
Household Products — 0.1%
Spectrum Brands Escrow Corp. (b):
6.38%, 11/15/20		90		95,850
6.63%, 11/15/22		105		111,825

				207,675
Independent Power Producers & Energy Traders — 3.4%
Calpine Corp. (b):
7.50%, 2/15/21		58		63,220
6.00%, 1/15/22		75		77,063
5.88%, 1/15/24		164		163,180
Energy Future Intermediate Holding Co. LLC/EFIH Finance, Inc.:
6.88%, 8/15/17 (b)		282		289,050
10.00%, 12/01/20 (b)		630		667,800
10.00%, 12/01/20		4,258		4,524,125
12.25%, 3/01/22 (b)		427		495,320
GenOn REMA LLC:
Series B, 9.24%, 7/02/17		88		91,100
Series C, 9.68%, 7/02/26		448		461,440
Laredo Petroleum, Inc.:
9.50%, 2/15/19		495		551,925
7.38%, 5/01/22		185		200,262
NRG Energy, Inc., 7.63%, 1/15/18		681		776,340

				8,360,825
Insurance — 0.1%
CNO Financial Group, Inc., 6.38%, 10/01/20 (b)		114		121,980
MPL 2 Acquisition Canco, Inc., 9.88%, 8/15/18 (b)		220		227,150

				349,130
Internet Software & Services — 0.1%
IAC/InterActiveCorp, 4.88%, 11/30/18 (b)		184		187,910
IT Services — 1.2%
Ceridian Corp., 8.88%, 7/15/19 (b)		1,155		1,335,469
First Data Corp. (b):
7.38%, 6/15/19		845		904,150
6.75%, 11/01/20		565		591,837
WEX, Inc., 4.75%, 2/01/23 (b)		206		190,035

				3,021,491
Corporate Bonds	Par (000)		Value
Machinery — 0.0%
Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc., 8.75%, 2/01/19 (b)	$	63	$	64,260
Media — 4.5%
AMC Networks, Inc., 7.75%, 7/15/21		320		360,000
Cengage Learning Acquisitions, Inc., 11.50%, 4/15/20 (a)(b)(e)		254		196,850
Checkout Holding Corp., 10.72%, 11/15/15 (b)(h)		296		241,240
Clear Channel Worldwide Holdings, Inc.:
7.63%, 3/15/20		412		434,660
6.50%, 11/15/22		1,461		1,510,335
DISH DBS Corp.:
4.25%, 4/01/18		500		508,750
5.88%, 7/15/22		700		708,750
DreamWorks Animation SKG, Inc., 6.88%, 8/15/20 (b)		114		121,125
Gannett Co., Inc. (b):
5.13%, 10/15/19		71		73,219
5.13%, 7/15/20		81		82,620
6.38%, 10/15/23		113		117,803
Gray Television, Inc., 7.50%, 10/01/20 (b)		160		168,400
Intelsat Jackson Holdings SA:
7.25%, 10/15/20		1,230		1,343,775
5.50%, 8/01/23 (b)		384		367,680
Live Nation Entertainment, Inc., 7.00%, 9/01/20 (b)		69		74,520
The McClatchy Co., 9.00%, 12/15/22		120		130,200
MDC Partners, Inc., 6.75%, 4/01/20 (b)		186		193,440
Midcontinent Communications & Midcontinent Finance Corp., 6.25%, 8/01/21 (b)		90		91,350
NAI Entertainment Holdings/NAI Entertainment Holdings Finance Corp., 5.00%, 8/01/18 (b)		155		160,037
Nielsen Finance LLC/Nielsen Finance Co., 7.75%, 10/15/18		341		370,837
ProQuest LLC / ProQuest Notes Co., 9.00%, 10/15/18 (b)		75		76,781
Sirius XM Holdings, Inc. (b):
5.88%, 10/01/20		132		136,125
5.75%, 8/01/21		158		159,975
4.63%, 5/15/23		117		104,423
Sterling Entertainment Corp., 10.00%, 12/15/19		450		450,000
Townsquare Radio LLC / Townsquare Radio, Inc., 9.00%, 4/01/19 (b)		296		318,200



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	5

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Media (concluded)
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH:
7.50%, 3/15/19	$	540	$	587,250
5.50%, 1/15/23 (b)		440		429,000
Univision Communications, Inc., 6.75%, 9/15/22 (b)		107		117,700
Virgin Media Secured Finance PLC, 6.50%, 1/15/18		1,250		1,295,312

				10,930,357
Metals & Mining — 2.3%
ArcelorMittal:
9.50%, 2/15/15		715		779,350
4.25%, 8/05/15		275		284,625
5.00%, 2/25/17		130		137,963
6.13%, 6/01/18		186		202,043
Commercial Metals Co., 4.88%, 5/15/23		347		323,577
FMG Resources August 2006 Property Ltd. (b):
7.00%, 11/01/15		80		82,900
6.00%, 4/01/17		40		42,400
Global Brass & Copper, Inc., 9.50%, 6/01/19		255		284,962
Kaiser Aluminum Corp., 8.25%, 6/01/20		190		215,175
New Gold, Inc., 6.25%, 11/15/22 (b)		255		250,537
Novelis, Inc., 8.75%, 12/15/20		2,328		2,607,360
Perstorp Holding AB, 8.75%, 5/15/17 (b)		205		219,350
RathGibson, Inc., 11.25%, 2/15/14 (a)(e)		2,175		—
Steel Dynamics, Inc., 6.38%, 8/15/22		205		222,938

				5,653,180
Multiline Retail — 0.1%
Dufry Finance SCA, 5.50%, 10/15/20 (b)		228		234,840
Oil, Gas & Consumable Fuels — 6.0%
Access Midstream Partners LP/ACMP Finance Corp., 4.88%, 5/15/23		170		166,600
Alpha Natural Resources, Inc., 6.25%, 6/01/21		79		67,743
Antero Resources Finance Corp., 5.38%, 11/01/21 (b)		289		291,890
Bonanza Creek Energy, Inc., 6.75%, 4/15/21		61		64,508
Chaparral Energy, Inc., 7.63%, 11/15/22		115		124,488
Corporate Bonds	Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
Chesapeake Energy Corp.:
7.25%, 12/15/18	$	22	$	25,300
6.63%, 8/15/20		271		303,520
6.88%, 11/15/20		150		168,562
6.13%, 2/15/21		3		3,225
Concho Resources, Inc., 6.50%, 1/15/22		219		237,067
CONSOL Energy, Inc.:
8.00%, 4/01/17		29		30,668
8.25%, 4/01/20		975		1,060,312
Crosstex Energy LP / Crosstex Energy Finance Corp., 8.88%, 2/15/18		195		205,725
Energy XXI Gulf Coast, Inc., 7.75%, 6/15/19		665		711,550
EP Energy LLC/Everest Acquisition Finance, Inc., Series WI, 6.88%, 5/01/19		235		253,212
Halcon Resources Corp., 8.88%, 5/15/21		351		356,265
Hilcorp Energy I LP/Hilcorp Finance Co., 7.63%, 4/15/21 (b)		470		509,950
Holly Energy Partners LP/Holly Energy Finance Corp., 6.50%, 3/01/20		80		83,800
Kinder Morgan Finance Co. LLC, 6.00%, 1/15/18 (b)		480		527,761
Kinder Morgan, Inc., 5.63%, 11/15/23 (b)		250		245,952
Kodiak Oil & Gas Corp., 8.13%, 12/01/19		550		609,125
Linn Energy LLC/Linn Energy Finance Corp.:
8.63%, 4/15/20		732		783,240
7.75%, 2/01/21		150		155,625
Memorial Production Partners LP/Memorial Production Finance Corp., 7.63%, 5/01/21		127		130,493
Northern Oil and Gas, Inc., 8.00%, 6/01/20		233		244,067
Oasis Petroleum, Inc.:
7.25%, 2/01/19		135		145,463
6.50%, 11/01/21		155		167,400
6.88%, 3/15/22 (b)		180		193,500
Offshore Group Investment Ltd., 7.13%, 4/01/23		246		253,380
Pacific Drilling SA, 5.38%, 6/01/20 (b)		223		225,230
PBF Holding Co. LLC/PBF Finance Corp., 8.25%, 2/15/20		76		79,800
PDC Energy, Inc., 7.75%, 10/15/22		155		167,788



6	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Oil, Gas & Consumable Fuels (concluded)
Penn Virginia Resource Partners LP/Penn Virginia Resource Finance Corp. II, 8.38%, 6/01/20	$	165	$	182,325
Petrobras Global Finance BV, 3.00%, 1/15/19		288		273,538
Range Resources Corp.:
6.75%, 8/01/20		303		328,755
5.75%, 6/01/21		80		85,300
RKI Exploration & Production LLC/RKI Finance Corp., 8.50%, 8/01/21 (b)		57		59,565
Rosetta Resources, Inc., 5.63%, 5/01/21		143		143,536
Sabine Pass Liquefaction LLC (b):
5.63%, 2/01/21		869		858,137
5.63%, 4/15/23		281		266,247
Sabine Pass LNG LP:
7.50%, 11/30/16		1,490		1,683,700
6.50%, 11/01/20		275		284,625
SandRidge Energy, Inc.:
8.75%, 1/15/20		35		37,800
7.50%, 2/15/23		411		419,220
SESI LLC, 6.38%, 5/01/19		174		185,310
SM Energy Co.:
6.63%, 2/15/19		22		23,320
6.50%, 11/15/21		225		240,750
Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 7.50%, 7/01/21 (b)		240		250,800
Tesoro Logistics LP/Tesoro Logistics Finance Corp., 5.88%, 10/01/20		66		67,815
Whiting Petroleum Corp., 5.00%, 3/15/19		536		548,060

				14,532,012
Paper & Forest Products — 0.2%
Ainsworth Lumber Co. Ltd., 7.50%, 12/15/17 (b)		256		275,840
Sappi Papier Holding GmbH, 8.38%, 6/15/19 (b)		200		218,000

				493,840
Pharmaceuticals — 0.5%
Capsugel SA, 7.00%, 5/15/19 (b)(c)		59		60,033
Valeant Pharmaceuticals International (b):
6.75%, 8/15/18		334		367,817
6.38%, 10/15/20		228		240,255
5.63%, 12/01/21 (g)		191		191,955
Corporate Bonds	Par (000)		Value
Pharmaceuticals (concluded)
Valeant Pharmaceuticals International (b) (concluded):
7.25%, 7/15/22	$	350	$	377,125

				1,237,185
Real Estate Investment Trusts (REITs) — 0.4%
Cantor Commercial Real Estate Co. LP/CCRE Finance Corp., 7.75%, 2/15/18 (b)		236		249,570
Felcor Lodging LP:
6.75%, 6/01/19		484		517,880
5.63%, 3/01/23		109		106,275
iStar Financial, Inc., 4.88%, 7/01/18		169		168,155

				1,041,880
Real Estate Management & Development — 1.0%
Realogy Corp., 7.63%, 1/15/20 (b)		1,130		1,262,775
The Realogy Group LLC/Sunshine Group Florida Ltd., 3.38%, 5/01/16 (b)		284		284,710
Rialto Holdings LLC/Rialto Corp., 7.00%, 12/01/18 (b)		85		85,000
Shea Homes LP/Shea Homes Funding Corp., 8.63%, 5/15/19		790		872,950

				2,505,435
Road & Rail — 1.4%
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 1.00%, 12/01/17 (b)(d)		64		63,840
The Hertz Corp.:
7.50%, 10/15/18		780		843,375
6.75%, 4/15/19		150		161,625
5.88%, 10/15/20		235		243,812
7.38%, 1/15/21		1,742		1,911,845
Watco Cos. LLC/Watco Finance Corp., 6.38%, 4/01/23 (b)		120		119,700

				3,344,197
Semiconductors & Semiconductor Equipment — 0.3%
NXP BV/NXP Funding LLC (b):
3.75%, 6/01/18		355		357,662
5.75%, 2/15/21		275		286,344

				644,006
Software — 1.0%
Activision Blizzard, Inc. (b):
5.63%, 9/15/21		175		181,781
6.13%, 9/15/23		61		63,898



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	7

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Software (concluded)
Healthcare Technology Intermediate, Inc., 7.38%, 9/01/18 (b)(c)	$	112	$	115,080
Infor US, Inc., 9.38%, 4/01/19		1,295		1,460,112
Nuance Communications, Inc., 5.38%, 8/15/20 (b)		700		659,750

				2,480,621
Specialty Retail — 0.4%
Claire’s Stores, Inc., 9.00%, 3/15/19 (b)		496		554,900
Sally Holdings LLC/Sally Capital, Inc., 6.88%, 11/15/19		350		387,188
Sonic Automotive, Inc., 5.00%, 5/15/23		50		46,500

				988,588
Textiles, Apparel & Luxury Goods — 0.2%
Levi Strauss & Co., 6.88%, 5/01/22		140		152,950
SIWF Merger Sub, Inc., 6.25%, 6/01/21 (b)		235		236,175
The William Carter Co., 5.25%, 8/15/21 (b)		132		134,310

				523,435
Trading Companies & Distributors — 0.2%
Doric Nimrod Air Finance Alpha Ltd. Pass-Through Trust, Series 2012-1, Class A, 5.13%, 11/30/24 (b)		427		433,058
Transportation Infrastructure — 0.1%
Aguila 3 SA, 7.88%, 1/31/18 (b)		176		186,780
Wireless Telecommunication Services — 3.7%
Digicel Ltd., 6.00%, 4/15/21 (b)		1,082		1,044,130
Sprint Communications, Inc. (b):
9.00%, 11/15/18		2,081		2,518,010
7.00%, 3/01/20		1,931		2,148,237
Sprint Corp., 7.88%, 9/15/23 (b)		1,362		1,491,390
T-Mobile USA, Inc.:
6.63%, 4/28/21		705		738,487
6.13%, 1/15/22		80		81,500
6.73%, 4/28/22		675		703,688
6.50%, 1/15/24		145		146,813
Wind Acquisition Finance SA, 6.50%, 4/30/20 (b)		200		211,000

				9,083,255
Total Corporate Bonds — 55.5%				135,202,185
Floating Rate Loan Interests	Par (000)		Value

Floating Rate Loan Interests
Aerospace & Defense — 0.9%
DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/20	$	483	$	486,798
Transdigm, Inc., Term Loan C, 3.75%, 2/28/20		243		244,196
TransUnion LLC, Term Loan, 4.25%, 2/10/19		1,442		1,449,920

				2,180,914
Airlines — 0.8%
Delta Air Lines, Inc., Term Loan B1, 4.00%, 10/18/18		991		994,860
Northwest Airlines, Inc.:
2.24%, 3/10/17		198		182,246
1.62%, 9/10/18		260		228,714
US Airways Group, Inc., Term Loan B1, 4.25%, 5/23/19		440		441,320

				1,847,140
Auto Components — 2.6%
Affinia Group Intermediate Holdings, Inc., Term Loan B2, 4.75%, 4/27/20		339		343,389
Autoparts Holdings Ltd.:
1st Lien Term Loan, 6.50%, 7/28/17		834		818,635
2nd Lien Term Loan, 10.50%, 1/29/18		900		837,000
Federal-Mogul Corp.:
Term Loan B, 2.11%, 12/29/14		1,468		1,449,386
Term Loan C, 2.11%, 12/28/15		1,037		1,023,535
FleetPride Corp., 1st Lien Term Loan, 5.25%, 11/19/19		337		330,701
The Goodyear Tire & Rubber Co., 2nd Lien Term Loan, 4.75%, 4/30/19		1,110		1,119,713
Schaeffler AG, Term Loan C, 4.25%, 1/27/17		50		50,271
Transtar Holding Co., 1st Lien Term Loan, 5.50%, 10/09/18		475		469,260

				6,441,890
Biotechnology — 0.2%
Grifols, Inc., Term Loan B, 4.25%, 6/01/17		559		561,279
Building Products — 1.0%
Armstrong World Industries, Inc., Term Loan B, 3.50%, 3/16/20		249		248,362



8	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Floating Rate Loan Interests	Par (000)		Value
Building Products (concluded)
Continental Building Products LLC, 1st Lien Term Loan, 4.50%, 8/14/20	$	345	$	343,275
CPG International, Inc., Term Loan, 4.75%, 9/30/20		680		680,850
Quikrete Holdings, Inc., 1st Lien Term Loan, 4.00%, 9/28/20		270		271,061
Wilsonart International Holdings LLC:
Incremental Term Loan B2, 4.00%, 10/31/19		140		138,250
Term Loan B, 4.00%, 10/31/19		744		737,244

				2,419,042
Capital Markets — 0.3%
American Capital Holdings, Inc., Term Loan, 4.00%, 8/22/16		206		206,608
HarbourVest Partners LLC, Term Loan B, 4.75%, 11/21/17		298		299,244
KCG Holdings, Inc., Term Loan B, 5.75%, 12/05/17		260		260,834

				766,686
Chemicals — 3.0%
Allnex USA, Inc.:
Term Loan B1, 4.50%, 10/03/19		243		243,907
Term Loan B2, 4.50%, 10/03/19		126		126,552
American Rock Salt Holdings LLC, Term Loan, 5.50%, 4/25/17		194		195,506
Chemtura Corp., Term Loan B, 3.50%, 8/27/16		605		608,069
Evergreen Acqco 1 LP, Term Loan, 5.00%, 7/09/19		420		420,588
General Chemical Corp., Term Loan, 5.00%, 10/06/15		305		306,134
INEOS US Finance LLC, 6 Year Term Loan, 4.00%, 5/04/18 (d)		389		389,989
MacDermid, Inc., 1st Lien Term Loan, 3.16%, 6/08/20		334		335,833
Nexeo Solutions LLC, Term Loan B, 5.00%, 9/08/17		912		906,098
OXEA Finance LLC:
2nd Lien Term Loan, 8.25%, 7/15/20		370		375,898
Term Loan B2, 4.25%, 1/15/20		510		512,677
Floating Rate Loan Interests	Par (000)		Value
Chemicals (concluded)
Royal Adhesives and Sealants LLC, 1st Lien Term Loan, 5.50%, 7/31/18	$	298	$	300,412
Tata Chemicals North America, Inc., Term Loan B, 3.75%, 8/07/20		249		248,752
Tronox Pigments (Netherlands) BV, 2013 Term Loan, 4.50%, 3/19/20		519		524,266
Univar, Inc., Term Loan B, 5.00%, 6/30/17		248		244,357
US Coatings Acquisition, Inc., Term Loan, 4.75%, 2/01/20		1,473		1,483,026

				7,222,064
Commercial Banks — 0.4%
Fly Funding II Sarl, Term Loan B, 4.50%, 8/08/18		50		50,281
Redtop Acquisitions Ltd.:
1st Lien Term Loan, 3.27%, 11/30/20		205		205,769
2nd Lien Term Loan, 8.25%, 5/31/21		130		130,650
Santander Asset Management, Term Loan, 0.00%, 11/11/20		550		550,000

				936,700
Commercial Services & Supplies — 2.3%
ADS Waste Holdings, Inc., Term Loan B, 4.25%, 10/09/19		907		910,889
AWAS Finance Luxembourg 2012 SA, Term Loan, 3.50%, 7/16/18		150		150,153
AWAS Finance Luxembourg Sarl, Term Loan B, 3.50%, 6/10/16		315		315,288
Catalent Pharma Solutions, Inc., Term Loan, 6.50%, 12/29/17		215		217,419
KAR Auction Services, Inc., Term Loan B, 3.75%, 5/19/17		1,196		1,199,974
Learning Care Group (US) No. 2, Inc., Term Loan B, 6.00%, 5/08/19		105		104,761
Livingston International, Inc., 1st Lien Term Loan, 5.00%, 4/16/19		289		288,913
Progressive Waste Solutions Ltd., Term Loan B, 3.50%, 10/24/19		293		292,787
Protection One, Inc., Term Loan, 4.25%, 3/21/19		502		501,515
Spin Holdco, Inc., Term Loan B, 4.25%, 11/14/19		885		885,558



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	9

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Floating Rate Loan Interests	Par (000)		Value
Commercial Services & Supplies (concluded)
West Corp., Term Loan B8, 3.75%, 6/29/18	$	641	$	643,772

				5,511,029
Communications Equipment — 2.1%
Alcatel-Lucent USA, Inc., Term Loan C, 5.75%, 1/30/19		2,030		2,046,164
Avaya, Inc.:
Extended Term Loan B3, 4.74%, 10/26/17		724		692,957
Term Loan B5, 8.00%, 3/30/18		97		96,287
CommScope, Inc., Term Loan, 3.75%, 1/12/18		815		814,949
Riverbed Technology, Inc., Term Loan, 4.00%, 12/18/19		335		337,301
Zayo Group LLC, Term Loan B, 4.00%, 7/02/19		1,228		1,226,712

				5,214,370
Construction & Engineering — 0.6%
BakerCorp International, Inc., Term Loan, 4.25%, 2/14/20		670		665,966
Centaur LLC, 1st Lien Term Loan, 5.25%, 2/20/19		537		542,673
USIC Holdings, Inc., 1st Lien Term Loan, 4.75%, 7/10/20		249		250,310

				1,458,949
Construction Materials — 1.3%
Filtration Group Corp.:
1st Lien Term Loan, 0.00%, 11/30/20		205		206,451
2nd Lien Term Loan, 0.00%, 11/30/21		220		223,575
HD Supply, Inc., Senior Debt B, 4.50%, 10/12/17		2,481		2,494,056
McJunkin Red Man Corp., Term Loan, 0.00%, 11/12/19		140		141,007

				3,065,089
Consumer Finance — 0.3%
Springleaf Financial Funding Co., Term Loan B2, 4.75%, 9/25/19		630		636,300
Containers & Packaging — 0.9%
Pact Group (USA), Inc., Term Loan B, 3.75%, 5/29/20		893		884,397
Polarpak, Inc., 1st Lien Canadian Borrower, 4.50%, 6/05/20		113		113,272
Sealed Air Corp., 2013 Term Loan, 4.00%, 10/03/18		314		314,406
Tekni-Plex, Inc., Term Loan B, 5.50%, 8/25/19		743		743,137
Floating Rate Loan Interests	Par (000)		Value
Containers & Packaging (concluded)
WNA Holdings, Inc., 1st Lien US Borrower, 4.50%, 6/05/20	$	61	$	61,531

				2,116,743
Distributors — 0.7%
ABC Supply Co., Inc., Term Loan, 3.50%, 4/16/20		1,125		1,123,594
Crossmark Holdings, Inc., 1st Lien Term Loan, 4.50%, 12/20/19		223		222,196
VWR Funding, Inc., Extended Add on Term Loan, 4.16%, 4/03/17		263		263,670

				1,609,460
Diversified Consumer Services — 1.1%
Bright Horizons Family Solutions, Inc., Term Loan B, 4.00%, 1/30/20		536		538,298
Doncasters Finance US LLC, Term Loan, 5.50%, 4/09/20		209		210,649
Garda World Security Corp., Term Loan B, 4.00%, 11/06/20		388		389,672
ROC Finance LLC, Term Loan, 5.00%, 5/15/19		230		220,082
ServiceMaster Co., Term Loan, 4.25%, 1/31/17		699		687,885
Weight Watchers International, Inc., Term Loan B2, 3.75%, 4/02/20		726		622,952

				2,669,538
Diversified Financial Services — 1.2%
ION Trading Technologies Sarl, 1st Lien Term Loan, 4.50%, 5/22/20		379		380,710
Kasima LLC, Term Loan B, 3.25%, 5/17/21		425		423,674
Reynolds Group Holdings, Inc., Dollar Term Loan, 4.00%, 12/31/18		1,128		1,134,653
RPI Finance Trust, Term Loan B3, 3.50%, 11/09/18		166		166,588
WMG Acquisition Corp., Term Loan, 3.75%, 7/01/20		750		749,062

				2,854,687
Diversified Telecommunication Services — 2.8%
Consolidated Communications, Inc., Term Loan B3, 5.25%, 12/31/18		873		878,029



10	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Floating Rate Loan Interests	Par (000)		Value
Diversified Telecommunication Services (concluded)
Hawaiian Telcom Communications, Inc., Term Loan B, 5.00%, 6/06/19	$	861	$	862,742
Integra Telecom, Inc., 1st Lien Term Loan, 5.25%, 2/22/19		438		442,042
Level 3 Financing, Inc., 2020 Term Loan B, 4.00%, 1/15/20		2,980		2,998,625
Syniverse Holdings, Inc., Term Loan B, 4.00%, 4/23/19		422		424,378
US Telepacific Corp., Term Loan B, 5.75%, 2/23/17		1,350		1,347,867

				6,953,683
Electric Utilities — 0.1%
Sandy Creek Energy Associates, L.P., Term Loan B, 5.00%, 11/06/20		210		210,573
Electronic Equipment, Instruments & Components — 0.2%
CDW LLC, Term Loan, 3.50%, 4/29/20		498		495,013
Energy Equipment & Services — 0.8%
Dynegy Holdings, Inc., Term Loan B2, 4.00%, 4/23/20		519		519,239
MEG Energy Corp., Refinancing Term Loan, 3.75%, 3/31/20		1,220		1,228,031
Unifrax Corp., Term Loan, 4.25%, 11/28/18		208		208,727

				1,955,997
Food & Staples Retailing — 0.5%
Rite Aid Corp.:
2nd Lien Term Loan, 5.75%, 8/21/20		225		230,344
Term Loan 6, 4.00%, 2/21/20		209		210,404
Supervalu, Inc., Refinancing Term Loan B, 5.00%, 3/21/19		487		488,644
US Foods, Inc., Refinancing Term Loan, 4.50%, 3/29/19		204		204,999

				1,134,391
Food Products — 2.2%
AdvancePierre Foods, Inc., Term Loan, 5.75%, 7/10/17		506		502,885
CTI Foods Holding Co. LLC, 1st Lien Term Loan, 4.50%, 6/29/20		345		345,000
Del Monte Foods Co., Term Loan:
1st Lien, 0.00%, 11/06/20		315		316,575
4.00%, 3/08/18		626		628,279
Dole Food Co., Inc., Term Loan B, 4.50%, 11/01/18		570		572,531
Floating Rate Loan Interests	Par (000)		Value
Food Products (concluded)
GFA Brands, Inc., Term Loan B, 5.00%, 7/09/20	$	209	$	209,999
Performance Food Group Co., 2nd Lien Term Loan, 6.25%, 11/14/19		843		839,727
Pinnacle Foods Finance LLC:
Incremental Term Loan H, 3.25%, 4/29/20		160		159,755
Term Loan G, 3.25%, 4/29/20		672		670,617
Reddy Ice Corp., 1st Lien Term Loan, 6.75%, 5/01/19		1,070		1,068,962

				5,314,330
Gas Utilities — 0.1%
EFS Cogen Holdings I, Inc., Term Loan B, 0.00%, 12/01/20		300		300,000
Health Care Equipment & Supplies — 2.7%
Arysta LifeScience Corp., 1st Lien Term Loan, 4.50%, 5/29/20		843		846,579
Biomet, Inc., Term Loan B2, 3.67%, 7/25/17		763		768,689
Capital Safety North America Holding, Inc., Term Loan, 4.50%, 1/21/19		665		663,251
CeramTec Acquisition Corp., Term Loan B2, 4.25%, 8/28/20		25		25,346
DJO Finance LLC, Term Loan B3, 4.75%, 9/15/17		1,254		1,266,154
The Hologic, Inc., Term Loan B, 3.75%, 8/01/19		972		975,254
Iasis Healthcare LLC, Term Loan B2, 4.50%, 5/03/18		98		98,636
Immucor, Inc., Refinancing Term Loan B2, 5.00%, 8/17/18		960		963,348
Kinetic Concepts, Inc., Term Loan D1, 4.50%, 5/04/18		135		136,316
LHP Hospital Group, Inc., Term Loan, 9.00%, 7/03/18		395		369,325
Onex Carestream Finance LP:
1st Lien Term Loan, 5.00%, 6/07/19		390		394,174
2nd Lien Term Loan, 9.50%, 6/07/19		100		100,625

				6,607,697
Health Care Providers & Services — 2.7%
American Renal Holdings, Inc., 1st Lien Term Loan, 4.50%, 9/20/19		557		555,807
Ardent Medical Services, Inc., Term Loan, 6.75%, 7/02/18		268		267,305



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	11

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Floating Rate Loan Interests	Par (000)		Value
Health Care Providers & Services (concluded)
CHG Buyer Corp., Term Loan, 4.25%, 11/19/19	$	375	$	376,049
ConvaTec, Inc., Term Loan, 4.00%, 12/22/16		1,035		1,040,071
DaVita, Inc.:
Term Loan B, 4.50%, 10/20/16		1,070		1,074,831
Term Loan B2, 4.00%, 11/01/19		586		588,649
Envision Healthcare Corp., Term Loan, 4.00%, 5/25/18		338		338,774
Genesis HealthCare Corp., Term Loan B, 10.00%, 9/25/17		457		462,039
Ikaria Acquisition, Inc., 1st Lien Term Loan, 7.25%, 7/03/18		267		268,625
inVentiv Health, Inc.:
Combined Term Loan, 7.50%, 8/04/16		260		256,766
Incremental Term Loan B3, 7.75%, 5/15/18		333		329,485
Surgical Care Affiliates, Inc., Class C Incremental Term Loan, 4.25%, 6/29/18		404		404,997
US Renal Care, Inc., Incremental 1st Lien Term Loan, 5.25%, 7/03/19		548		552,997

				6,516,395
Health Care Technology — 0.6%
IMS Health, Inc., Term Loan B1, 3.75%, 9/01/17		1,372		1,375,724
MedAssets, Inc., Term Loan B, 4.00%, 12/13/19		196		196,057

				1,571,781
Hotels, Restaurants & Leisure — 7.7%
Bally Technologies, Inc., Term Loan B, 0.00%, 8/31/20		430		432,507
Bronco Midstream Funding LLC, Term Loan B, 5.00%, 8/17/20		700		707,000
Caesars Entertainment Resort Properties, LLC, Term Loan B, 7.00%, 10/12/20		6,575		6,455,861
Drumm Investors LLC, Term Loan, 5.00%, 5/04/18		541		526,964
Four Seasons Holdings, Inc., 2nd Lien Term Loan, 6.25%, 12/28/20		305		312,244
Hilton Worldwide Finance, LLC, Term Loan B2, 4.00%, 10/26/20		3,422		3,431,735
Intrawest ULC, Term Loan, 0.00%, 11/26/20		345		345,431
Floating Rate Loan Interests	Par (000)		Value
Hotels, Restaurants & Leisure (concluded)
Marina District Finance Co., Inc., Term Loan B, 0.00%, 8/15/18	$	505	$	505,631
MGM resorts International, Term Loan A, 2.91%, 12/20/17		248		248,021
MGM Resorts International, Term Loan B, 3.50%, 12/20/19		660		659,188
OSI Restaurant Partners LLC, Term Loan, 3.50%, 10/25/19		340		340,071
Pinnacle Entertainment, Inc., Term Loan B2, 3.75%, 8/13/20		489		490,456
Playa Resorts Holding BV, Term Loan B, 4.75%, 8/06/19		380		383,089
Sabre, Inc.:
Incremental Term Loan, 4.50%, 2/19/19		220		219,589
Term Loan B, 5.25%, 2/19/19		303		304,417
Six Flags Theme Parks, Inc., Term Loan B, 4.00%, 12/20/18		205		205,691
Station Casinos, Inc., Term Loan B, 5.00%, 3/02/20		1,577		1,593,177
Travelport LLC, Refinancing Term Loan, 6.25%, 6/26/19		594		605,911
Twin River Management Group, Inc., Term Loan B, 5.25%, 11/09/18		535		540,606
Wendy’s International, Inc., Term Loan B, 3.25%, 5/15/19		425		424,532

				18,732,121
Household Products — 0.5%
Spectrum Brands, Inc.:
Term Loan, 4.50%, 12/17/19		660		662,322
Term Loan A, 3.00%, 9/07/17		445		445,370
Term Loan C, 3.50%, 9/04/19		90		90,223

				1,197,915
Independent Power Producers & Energy Traders — 1.1%
AES Corp., Refinancing Term Loan B, 3.75%, 6/01/18		724		728,133
Calpine Construction Finance Co., L.P., Term Loan B1, 3.00%, 5/03/20		279		276,298
Calpine Corp., Term Loan B1, 4.00%, 4/02/18		400		402,105
La Frontera Generation LLC, Term Loan, 4.50%, 9/30/20		965		973,971
Star West Generation LLC, Term Loan B, 4.25%, 3/13/20		388		390,475

				2,770,982



12	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Floating Rate Loan Interests	Par (000)		Value
Industrial Conglomerates — 0.4%
Sequa Corp., Term Loan B, 5.25%, 12/19/17	$	1,123	$	1,107,608
Insurance — 1.3%
Alliant Holdings I, Inc., Term Loan B, 4.75%, 12/20/19		397		397,746
Asurion LLC, Term Loan B1, 4.50%, 5/24/19		571		570,294
CNO Financial Group, Inc.:
Term Loan B1, 3.00%, 9/28/16		312		312,949
Term Loan B2, 3.75%, 9/20/18		491		491,926
Cooper Gay Swett & Crawford Ltd., 1st Lien Term Loan, 5.00%, 4/16/20		399		393,637
Cunningham Lindsey US, Inc., 1st Lien Term Loan, 5.00%, 12/10/19		342		341,557
Hub International Ltd., Term Loan B, 4.75%, 10/02/20		415		418,996
National Financial Partners Corp., Term Loan, 5.25%, 7/01/20		165		166,439

				3,093,544
Internet Software & Services — 0.7%
Interactive Data Corp., Term Loan B, 3.75%, 2/11/18		889		887,920
W3 Co., 1st Lien Term Loan, 5.75%, 3/13/20		383		384,033
Web.com Group, Inc., Term Loan B, 4.50%, 10/27/17		341		343,442

				1,615,395
IT Services — 2.5%
CCC Information Services, Inc., Term Loan, 4.00%, 12/20/19		203		203,463
Ceridian Corp., Term Loan B, 4.42%, 5/09/17		926		930,044
First Data Corp., 2018 Term Loan:
4.17%, 9/24/18		750		751,635
Extended B, 4.17%, 3/23/18		3,059		3,064,680
Genpact International, Inc., Term Loan B, 3.50%, 8/30/19		516		516,752
InfoGroup, Inc., Term Loan, 8.00%, 5/25/18		336		272,227
Moneygram International, Inc., Term Loan B, 4.25%, 3/27/20		68		68,785
SunGard Data Systems, Inc.:
Term Loan D, 4.50%, 1/31/20		253		254,431
Term Loan E, 4.00%, 3/09/20		164		165,406

				6,227,423
Floating Rate Loan Interests	Par (000)		Value
Leisure Equipment & Products — 0.1%
FGI Operating Co. LLC, Term Loan, 5.50%, 4/19/19	$	281	$	284,396
Life Sciences Tools & Services — 0.1%
Patheon, Inc., Term Loan, 7.25%, 12/06/18		262		264,811
Machinery — 3.0%
Allegion PLC, Term Loan B, 3.00%, 9/30/20		390		390,121
Alliance Laundry Systems LLC, Refinancing Term Loan, 4.25%, 12/10/18		201		201,566
Dayco Products LLC, Term Loan B, 5.25%, 11/26/19		420		416,850
Faenza Acquisition GmbH:
Term Loan B1, 4.25%, 8/31/20		257		257,410
Term Loan B3, 4.25%, 8/28/20		78		78,295
Gardner Denver, Inc., Term Loan, 4.25%, 7/30/20		711		707,520
Generac Power Systems, Inc., Term Loan B, 3.50%, 5/31/20		748		748,125
Intelligrated, Inc., 1st Lien Term Loan, 4.50%, 7/30/18		396		396,990
Mirror Bidco Corp., Term Loan, 5.25%, 12/27/19		536		538,405
Navistar International Corp., Term Loan B, 5.75%, 8/17/17		609		618,357
Pacific Industrial Services US Finco LLC:
1st Lien Term Loan, 5.00%, 10/02/18		475		480,049
2nd Lien Term Loan, 8.75%, 4/02/19		365		372,300
Rexnord LLC, 1st Lien Term Loan B, 4.00%, 8/21/20		452		451,646
Silver II US Holdings LLC, Term Loan, 4.00%, 12/13/19		834		832,958
Wabash National Corp., Term Loan B, 4.50%, 5/02/19		873		876,626

				7,367,218
Marine — 0.4%
HGIM Corp., Term Loan B, 5.50%, 6/18/20		865		868,244
Media — 8.1%
Activision Blizzard, Inc., Term Loan B, 3.25%, 10/12/20		650		651,423
Capsugel Holdings US, Inc., Term Loan B, 3.50%, 8/01/18		537		535,755
Catalina Marketing Corp., Term Loan B, 5.25%, 10/12/20		535		539,547



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	13

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Floating Rate Loan Interests	Par (000)		Value
Media (continued)
Cengage Learning Acquisitions, Inc.:
Non-Extended Term Loan, 4.75%, 7/03/14	$	191	$	143,352
Tranche 1 Incremental, 7.50%, 7/03/14		657		494,135
Charter Communications Operating LLC, Term Loan E, 3.00%, 7/01/20		688		678,336
Cumulus Media Holdings, Inc., 1st Lien Term Loan, 4.50%, 9/17/18		1,049		1,054,052
EMI Music Publishing Ltd., Term Loan B, 4.25%, 6/29/18		366		367,588
EW Scripps Co., Term Loan B, 3.25%, 11/14/20		330		330,825
Fender Musical Instruments Corp., 2019 Term Loan B, 5.75%, 4/03/19		96		97,080
Foxco Acquisition Sub LLC, Term Loan B, 5.50%, 7/14/17		627		628,107
Getty Images, Inc., Term Loan B, 4.75%, 10/18/19		132		122,206
Gray Television, Inc., Term Loan B, 4.75%, 10/15/19		146		146,884
Hemisphere Media Group, Inc., Term Loan, 6.25%, 7/30/20		474		475,296
Houghton Mifflin Harcourt Publishing Co., DIP Term Loan B, 4.25%, 6/01/18		798		799,510
Hubbard Radio LLC, Term Loan B, 4.50%, 4/29/19		477		480,574
Intelsat Jackson Holdings SA, Term Loan B2, 2.00%, 6/30/19		5,126		5,132,628
Lions Gate Entertainment Corp., 2nd Lien Term Loan, 5.00%, 7/17/20		210		210,263
Live Nation Entertainment, Inc., 2020 Term Loan B1, 3.50%, 8/17/20		215		215,107
Media General, Inc., Delayed Draw Term Loan B, 5.50%, 7/31/20		400		403,752
NEP/NCP Holdco, Inc., Term Loan, 4.75%, 1/22/20		625		626,838
Nielsen Finance LLC, Term Loan E, 2.92%, 5/02/16		220		220,226
Rentpath, Inc., Term Loan B, 6.25%, 5/29/20		514		502,154
Salem Communications Corp., Term Loan B, 4.50%, 3/13/20		375		375,828
Sinclair Television Group, Inc., Term Loan B, 3.00%, 4/09/20		199		197,384
Floating Rate Loan Interests	Par (000)		Value
Media (concluded)
Springer Science & Business Media Deutschland GmbH, Term Loan B2, 5.00%, 8/14/20	$	525	$	526,423
Tribune Co., 2013 Term Loan, 0.00%, 11/12/20		615		612,116
TWCC Holding Corp., 2nd Lien Term Loan, 7.00%, 6/26/20		440		450,450
Univision Communications, Inc., Converted Extended Term Loan, 4.50%, 3/02/20		1,023		1,027,328
UPC Financing Partnership, Term Loan AH, 3.25%, 6/30/21		425		423,758
Virgin Media Investment Holdings Ltd., Term Loan B, 3.50%, 6/08/20		980		979,922
WideOpenWest Finance LLC, Term Loan B, 4.75%, 4/01/19		341		342,547

				19,791,394
Metals & Mining — 2.9%
Ameriforge Group, Inc., 1st Lien Term Loan, 5.00%, 12/19/19		352		355,272
API Heat Transfer, Inc., Term Loan, 5.25%, 5/03/19		358		355,961
Constellium Holdco BV, Term Loan B, 6.00%, 3/25/20		786		804,719
FMG Resources August 2006 Property Ltd., Term Loan, 4.25%, 6/28/19		1,742		1,757,646
Murray Energy Corp., Term Loan B, 4.75%, 5/24/19		90		89,960
Novelis, Inc., Term Loan, 3.75%, 3/10/17		1,965		1,973,559
SunCoke Energy, Inc., Term Loan B, 4.00%, 7/26/18		258		256,228
Walter Energy, Inc., Term Loan B, 6.75%, 4/02/18		870		851,008
Windsor Financing LLC, Term Loan B, 6.25%, 12/05/17		581		594,480

				7,038,833
Multiline Retail — 1.3%
99 Cents Only Stores, Term Loan, 4.50%, 1/11/19		684		686,881
Apex Tool Group LLC, Term Loan B, 4.50%, 1/31/20		458		458,464
BJ’s Wholesale Club, Inc., 1st Lien Term Loan, 4.50%, 9/26/19		511		512,595
Hudson’s Bay Co.:
1st Lien Term Loan, 4.75%, 11/04/20		435		440,290
2nd Lien Term Loan, 8.25%, 11/04/21		65		66,733



14	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Floating Rate Loan Interests	Par (000)		Value
Multiline Retail (concluded)
JC Penney Corp., Inc., 1st Lien Term Loan, 6.00%, 5/22/18	$	354	$	345,830
The Neiman Marcus Group, Inc., Term Loan, 5.00%, 10/26/20		660		663,960

				3,174,753
Oil, Gas & Consumable Fuels — 3.7%
Brand Energy & Infrastructure Services, Inc., Term Loan B, 0.00%, 11/20/20		809		812,365
Chesapeake Energy Corp., Unsecured Term Loan, 5.75%, 12/01/17		1,230		1,254,600
Drillships Financing Holding, Inc., Term Loan B2, 5.50%, 7/15/16		783		792,176
EP Energy LLC, Term Loan B3, 3.50%, 5/24/18		430		430,107
Fieldwood Energy LLC, 1st Lien Term Loan, 3.88%, 9/28/18		245		246,492
GIM Channelview Cogeneration LLC, Term Loan B, 4.25%, 5/08/20		434		436,624
Obsidian Natural Gas Trust, Term Loan, 7.00%, 11/02/15		572		572,149
Offshore Group Investment Ltd.:
6.25%, 10/25/17		978		980,590
5.75%, 3/28/19		378		381,526
Pacific Drilling SA, Term Loan B, 4.50%, 6/04/18		529		532,973
Panda Temple II Power LLC, Term Loan B, 7.25%, 4/03/19		330		338,250
Philadelphia Energy Solutions LLC, Term Loan B, 6.25%, 4/04/18		353		315,090
PowerTeam Services LLC:
1st Lien Term Loan, 4.25%, 5/06/20		186		183,815
Delayed Draw Term Loan, 4.25%, 5/06/20		10		10,020
Ruby Western Pipeline Holdings LLC, Term Loan B, 3.50%, 3/27/20		397		398,216
Samson Investment Co., 2nd Lien Term Loan, 6.00%, 9/25/18		275		275,687
Tesoro Corp., Term Loan B, 2.41%, 5/30/16		512		512,425
Western Refining, Inc., Term Loan B, 0.00%, 11/12/20		620		625,041

				9,098,146
Paper & Forest Products — 0.2%
NewPage Corp., Exit Term Loan, 7.75%, 12/21/18		438		446,550
Floating Rate Loan Interests	Par (000)		Value
Pharmaceuticals — 3.2%
Akorn, Inc., Term Loan B, 0.00%, 8/27/20	$	390	$	391,221
Amneal Pharmaceuticals LLC, Term Loan, 7.00%, 11/01/19		305		305,000
Aptalis Pharma, Inc., Term Loan B, 6.00%, 9/18/20		1,361		1,374,522
Envision Acquisition Co. LLC, 1st Lien Term Loan, 5.75%, 11/04/20		445		446,112
Par Pharmaceutical Cos., Inc., Refinancing Term Loan B, 4.25%, 9/30/19		1,733		1,739,896
Pharmaceutical Product Development LLC, Term Loan B, 4.25%, 12/05/18		1,339		1,346,455
Quintiles Transnational Corp., Term Loan B, 4.00%, 6/08/18		683		683,690
Valeant Pharmaceuticals International, Inc.:
Series C2 Term Loan B, 3.75%, 12/11/19		617		621,267
Series D2 Term Loan B, 3.75%, 2/13/19		647		651,610
Term Loan E, 4.50%, 8/05/20		337		341,105

				7,900,878
Professional Services — 1.1%
Emdeon Business Services LLC, Term Loan B2, 3.75%, 11/02/18		1,187		1,190,543
ON Assignment, Inc., Refinancing Term Loan B, 3.50%, 4/30/20		229		228,503
Sirva Worldwide, Inc., Term Loan, 7.50%, 3/27/19		398		404,965
TriNet Group, Inc., Term Loan B2, 5.00%, 8/14/20		300		300,000
Truven Health Analytics, Inc., Term Loan B, 4.50%, 6/06/19		553		554,636

				2,678,647
Real Estate Investment Trusts (REITs) — 0.6%
iStar Financial, Inc., Term Loan, 4.50%, 10/16/17		1,173		1,178,068
Starwood Property Trust, Inc., Term Loan B, 0.00%, 4/17/20		235		233,973

				1,412,041
Real Estate Management & Development — 1.4%
CityCenter Holdings LLC, Term Loan B, 5.00%, 10/16/20		540		545,908
Realogy Corp.:
Extended Letter of Credit, 4.45%, 10/10/16		974		983,280



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	15

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Floating Rate Loan Interests	Par (000)		Value
Real Estate Management & Development (concluded)
Realogy Corp. (concluded):
Extended Term Loan, 4.50%, 3/05/20	$	1,775	$	1,793,053

				3,322,241
Road & Rail — 0.2%
Road Infrastructure Investment LLC, Term Loan B, 6.25%, 3/30/18		429		430,770
Semiconductors & Semiconductor Equipment — 0.7%
Freescale Semiconductor, Inc.:
Term Loan B3, 4.75%, 12/01/16		149		150,042
Term Loan B4, 5.00%, 2/28/20		796		804,207
Term Loan B5, 5.00%, 1/15/21		140		141,449
NXP BV:
Term Loan C, 4.75%, 1/11/20		362		362,534
Term Loan D, 3.25%, 1/10/20		365		365,274

				1,823,506
Software — 2.2%
Blackboard, Inc., Term Loan B3, 4.75%, 10/04/18		146		147,426
BMC Software Finance, Inc., Term Loan, 5.00%, 9/10/20		525		527,625
Chromaflo Technologies Corp., 1st Lien Term Loan, 0.00%, 11/30/19		250		250,000
CompuCom Systems, Inc., Refinancing Term Loan B, 4.25%, 5/11/20		110		109,121
Evertec Group LLC, Term Loan B, 3.50%, 4/17/20		229		223,403
GCA Services Group, Inc., Term Loan B, 5.25%, 11/01/19		400		399,845
Infor US, Inc., Term Loan B2, 5.25%, 4/05/18		1,347		1,352,486
Mitchell International, Inc., 1st Lien Term Loan, 4.50%, 10/12/20		240		241,500
RP Crown Parent LLC, 1st Lien Term Loan, 6.75%, 12/21/18		452		455,634
Sophia LP, Term Loan B, 4.50%, 7/19/18		605		609,190
SS&C Technologies, Inc.:
Term Loan B1, 3.25%, 6/07/19		628		629,209
Term Loan B2, 3.25%, 6/07/19		65		65,091
Floating Rate Loan Interests	Par (000)		Value
Software (concluded)
StoneRiver Holdings, Inc., 1st Lien Term Loan, 4.50%, 11/29/19	$	177	$	176,298
Websence, Inc., Term Loan B, 4.50%, 6/25/20		209		209,213

				5,396,041
Specialty Retail — 4.1%
Academy Ltd., Term Loan, 4.50%, 8/03/18		1,082		1,086,529
Atlantic Aviation FBO, Inc., Term Loan B, 3.25%, 6/01/20		254		254,123
Bass Pro Group LLC, Term Loan, 4.00%, 11/20/19		690		692,744
Burlington Coat Factory Warehouse Corp., Term Loan B2, 4.25%, 2/23/17		328		330,104
David’s Bridal, Inc., Term Loan B, 5.00%, 10/11/19		859		859,053
Equinox Holdings, Inc., Repriced Term Loan B, 4.50%, 1/31/20		423		424,989
Gymboree Corp., Initial Term Loan, 5.00%, 2/23/18		67		64,489
Harbor Freight Tools USA, Inc., 1st Lien Term Loan, 4.75%, 7/26/19		665		671,997
Jo-Ann Stores, Inc., Term Loan, 4.00%, 3/16/18		382		382,352
Leslie’s Poolmart, Inc., Term Loan B, 4.25%, 10/16/19		687		688,613
Michaels Stores, Inc., Term Loan, 3.75%, 1/28/20		652		653,226
Party City Holdings, Inc., Refinancing Term Loan B, 4.25%, 7/29/19		1,454		1,457,249
Petco Animal Supplies, Inc., Term Loan, 4.00%, 11/24/17		1,060		1,064,157
Sprouts Farmers Markets Holdings LLC, Term Loan, 4.00%, 4/23/20		192		192,879
SRAM LLC, Term Loan B, 4.00%, 4/10/20		214		212,868
Things Remembered, Inc., Term Loan B, 8.00%, 5/24/18		743		739,210
Toys ‘R’ Us-Delaware, Inc.:
Incremental Term Loan B2, 5.25%, 5/25/18		153		135,799
Term Loan B3, 5.25%, 5/25/18		47		41,549

				9,951,930



16	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)


Floating Rate Loan Interests	Par (000)		Value
Textiles, Apparel & Luxury Goods — 0.6%
Ascend Performance Materials LLC, Term Loan B, 6.75%, 4/10/18	$	862	$	819,606
Phillips-Van Heusen Corp., Term Loan B, 3.25%, 2/13/20		470		470,763
True Religion Apparel, Inc., 1st Lien Term Loan, 5.88%, 7/30/19		85		81,281

				1,371,650
Thrifts & Mortgage Finance — 0.3%
IG Investments Holdings LLC, 1st Lien Term Loan, 5.50%, 10/31/19		422		423,525
Ocwen Financial Corp., Term Loan, 5.00%, 2/15/18		353		357,273

				780,798
Trading Companies & Distributors — 0.0%
WESCO Distribution, Inc., Term Loan B, 4.50%, 12/12/19		120		120,008
Wireless Telecommunication Services — 0.5%
Cricket Communications, Inc., Term Loan, 4.75%, 10/10/19		332		333,094
Light Tower Fiber LLC, 1st Lien Term Loan, 4.50%, 4/13/20		579		578,793
Time Warner Telecom Holdings Inc., Term Loan B, 2.67%, 4/17/20		319		319,998

				1,231,885
Total Floating Rate Loan Interests — 81.3%				198,071,468


Non-Agency Mortgage-Backed Securities — 0.2%
Collateralized Mortgage Obligations — 0.2%
Hilton USA Trust 2013-HLT, Series 2013-HLT, Class EFX, 5.22%, 11/05/30 (b)(g)		565		567,825
Other Interests (a)(i)	Beneficial Interest (000)		Value
Auto Components — 0.0%
Intermet Liquidating Trust, Class A	$	320	$	3
Diversified Financial Services — 0.2%
J.G. Wentworth LLC Preferred Equity Interests (90-day lock), (Acquired 11/18/13, cost $708,423) (j)		10		158,683
J.G. Wentworth LLC Preferred Equity Interests (135-day lock), (Acquired 11/18/13, cost $708,423) (j)		10		158,683
J.G. Wentworth LLC Preferred Equity Interests (180-day lock), (Acquired 11/18/13, cost $708,423) (j)		10		158,683

				476,049
Media — 0.0%
Adelphia Preferred Escrow		3		—
Adelphia Recovery Trust, Series ACC-6B INT		250		7,500

				7,500
Total Other Interests — 0.2%				483,552


Trust Preferreds — 0.8%	Shares
Diversified Financial Services — 0.8%
GMAC Capital Trust I, Series 2, 8.13%, 2/15/40 (d)		71,810		1,920,493


Warrants (k)
Chemicals — 0.1%
GEO Specialty Chemicals, Inc. (Expires 3/31/15)		172,462		144,868
Media — 0.2%
Charter Communications Inc, (Issued/exercisable 11/30/09, 1 Share for 1 Warrant, Expires 11/30/14, Strike Price $51.28)		6,862		583,407
Software — 0.0%
HMH Holdings/EduMedia, (Issued/Exercisable 3/09/10, 19 Shares for 1 Warrant, Expires 6/22/19, Strike Price $42.27)		982		—
Total Warrants — 0.3%				728,275
Total Long-Term Investments (Cost — $345,552,078) — 142.3%				346,670,232



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	17

Consolidated Schedule of Investments (continued)

BlackRock Senior High Income Fund, Inc. (ARK)

(Percentages shown are based on Net Assets)



Short-Term Securities	Shares		Value
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.15% (l)(m)		11,606	$	11,606
Total Short-Term Securities (Cost — $11,606) — 0.0%				11,606



	Value
*Total Investments (Cost — $345,563,684) — 142.3%**	$	346,681,838
Liabilities in Excess of Other Assets — (42.3)%		(103,073,313	)

Net Assets — 100.0%	$	243,608,525

As of November 30, 2013, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:


Tax cost	$	343,804,636

Gross unrealized appreciation	$	12,627,740
Gross unrealized depreciation		(9,750,538	)

Net unrealized appreciation	$	2,877,202

Notes to Schedule of Investments

(a)

Non-income producing security.

(b)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(c)

Represents a payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

(d)

Variable rate security. Rate shown is as of report date.

(e)

Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.

(f)

Convertible security.

(g)

When-issued security. Unsettled when-issued transactions were as follows:


Counterparty	Value		Unrealized Appreciation
Barclays Bank PLC	$	87,435	$	435
Goldman Sachs & Co.	$	191,955	$	955
J.P. Morgan Securities LLC	$	567,825		—

(h)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

(i)

Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

(j)

Restricted securities as to resale. As of report date the Fund held 0.2% of its net assets, with a current value of $476,049 in these securities.

(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, if any.

(l)

Investments in issuers considered to be an affiliate of the Fund during the period ended November 30, 2013, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliate

Shares Held

at February 28,

2013

Net
Activity

Shares Held

at November 30,

2013

Income

BlackRock Liquidity Funds, TempFund, Institutional Class

2,447,698

(2,436,092

)

11,606

902

(m)

Represents the current yield as of report date.



18	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013


Consolidated Schedule of Investments (continued)		BlackRock Senior High Income Fund, Inc. (ARK)

Portfolio Abbreviations


To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:	ADS	American Depositary Shares
	CLO	Collateralized Loan Obligation
	DIP	Debtor-In-Possession
	EBITDA	Earnings Before Interest, Taxes, Depreciation and Amortization
	FKA	Formerly Known As
	CAD	Canadian Dollar
	USD	U.S. Dollar

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. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

Fair Value Measurements — Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access

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 hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments, please refer to the Fund’s most recent financial statements as contained in its semi-annual report.



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	19


Consolidated Schedule of Investments (continued)		BlackRock Senior High Income Fund, Inc. (ARK)

The following table summarizes the Fund’s investments categorized in the disclosure hierarchy as of November 30, 2013:


	Level 1		Level 2			Level 3		Total
Assets:
Investments:
Long-Term Investments:
Asset-Backed Securities		—		—		$	6,454,159	$	6,454,159
Common Stocks	$	937,306	$	1,120,281			1,184,688		3,242,275
Corporate Bonds		—		130,622,528			4,579,657		135,202,185
Floating Rate Loan Interests		—		183,019,647			15,051,821		198,071,468
Non-Agency Mortgage-Backed Securities		—		567,825			—		567,825
Other Interests		—		—			483,552		483,552
Trusts Preferred		—		1,920,493			—		1,920,493
Warrants		—		583,407			144,868		728,275
Short-Term Securities		11,606		—			—		11,606
Unfunded Loan Commitments		—		435			—		435
Liabilities:
Unfunded Loan Commitments		—		(107	)		—		(107	)

Total	$	948,912	$	317,834,509		$	27,898,745	$	346,682,166

Certain of the Fund’s assets and/or liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of November 30, 2013, such assets and liabilities are categorized within the disclosure hierarchy as follows:


	Level 1		Level 2			Level 3		Total
Assets:
Cash	$	132,015		—			—	$	132,015
Foreign currency at value		3,068		—			—		3,068
Liabilities:
Loans payable		—	$	(99,000,000	)		—		(99,000,000	)

Total	$	135,083	$	(99,000,000	)		—	$	(98,864,917	)

There were no transfers between Level 1 and Level 2 during the period ended November 30, 2013.



20	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013


Consolidated Schedule of Investments (continued)		BlackRock Senior High Income Fund, Inc. (ARK)

A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:


	Common Stocks		Asset-Backed Securities		Corporate Bonds		Floating Rate Loan Interests		Other Interests		Warrants		Total
Assets:
Opening balance, as of February 28, 2013	$	93,315	$	10,426,035	$	3,916,065	$	16,996,955	$	645,641	$	11,124	$	32,089,135
Transfers into Level 3¹		744,380		238,750		—		1,719,095		7,500		—		2,709,725
Transfers out of Level 3²		—		—		(270,720)		(4,925,557)		—		—		(5,196,277)
Accrued discounts/premiums		—		30,398		63,234		17,963		—		—		111,595
Net realized gain		806		380,136		—		109,815		—		—		490,757
Net change in unrealized appreciation/depreciation³		416,830		(305,546)		871,078		(81,385)		98,436		133,744		1,133,157
Purchases		—		2,243,383		—		11,151,899		2,125,269		—		15,520,551
Sales		(70,643)		(6,558,997)		—		(9,936,964)		(2,393,294)		—		(18,959,898)

Closing balance, as of November 30, 2013	$	1,184,688	$	6,454,159	$	4,579,657	$	15,051,821	$	483,552	$	144,868	$	27,898,745

As of February 28, 2013, the Fund used observable inputs in determining the value of certain investments. As of November 30, 2013, the Fund used significant unobservable inputs in determining the value of the same investments. As a result, investments with a beginning of period value of $2,709,725 transferred from Level 2 to Level 3 in the disclosure hierarchy.

As of February 28, 2013, the Fund used significant unobservable inputs in determining the value of certain investments. As of November 30, 2013, the Fund used observable inputs in determining the value of the same investments. As a result, investments with a beginning of period value of $5,196,277 transferred from Level 3 to Level 2 in the disclosure hierarchy.

The change in unrealized appreciation/depreciation on investments still held as of November 30, 2013 was $(140,380).



BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013	21


Consolidated Schedule of Investments (concluded)		BlackRock Senior High Income Fund, Inc. (ARK)

The following table summarizes the valuation techniques used and unobservable inputs utilized by the Global Valuation Committee to determine the value of certain of the Funds Level 3 investments and derivative financial instruments as of November 30, 2013. The table does not include Level 3 investments and derivative financial instruments with values based upon unadjusted third party pricing information. Level 3 investments valued using third party pricing information was $21,837,865. A significant change in such third party pricing information could result in a significantly lower or higher value of such Level 3 investments.


	Value		Valuation Techniques	Unobservable Inputs¹	Range of Unobservable Inputs Utilized
Assets:
Common Stocks	$	121,096	Market Comparable Companies	Last 12 months EBITDA Multiple	6.50x
				Illiquidity Discount	17.50%
Corporate Bonds²		4,579,657	Market Comparable Companies	Last 12 months EBITDA Multiple	6.50x – 10x
				Illiquidity Discount	17.50%
Floating Rate Loan Interests		739,210	Market Comparable Yield Analysis	Yield	8.13%
Other Interests		476,049	Discounted Vendor Price	Illiquidity Discount	5.00%
Warrants		144,868	Market Comparable Companies	Last 12 months EBITDA Multiple	6.50x
				Illiquidity Discount	17.50%
Total	$	6,060,880

A change to the unobservable input may result in a significant change to the value of the investment as follows:


Unobservable Input	Impact to Value if Input Increases	Impact to Value if Input Decreases
Last 12 months EBITDA Multiple	Increase	Decrease
Illiquidity Discount	Decrease	Increase
Yield	Decrease	Increase

For the period ended November 30, 2013, the valuation technique for certain investments classified as corporate bonds changed to a market approach. The investment was previously valued utilizing acquisition cost. Market information became available for this investment which is considered to be a more relevant measure of fair value for this investment.



22	BLACKROCK SENIOR HIGH INCOME FUND, INC.	NOVEMBER 30, 2013

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/ John M. Perlowski
		John M. Perlowski
		Chief Executive Officer (principal executive officer) of
		BlackRock Senior High Income Fund, Inc.

Date:		January 24, 2014

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/ John M. Perlowski
		John M. Perlowski
		Chief Executive Officer (principal executive officer) of
		BlackRock Senior High Income Fund, Inc.

Date:		January 24, 2014


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

Date:		January 24, 2014