BLACKROCK CORPORATE HIGH YIELD 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: 811-21318
Name of Fund: BlackRock Corporate High Yield Fund, Inc. (HYT)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Corporate
High Yield Fund, Inc., 55 East
52nd Street, New York, NY 10055
Registrants telephone number, including area
code: (800) 882-0052, Option 4
Date of fiscal year end: 08/31/2016
Date of reporting period: 05/31/2016
Item 1 Schedule of Investments
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Consolidated Schedule of Investments May 31, 2016 (Unaudited) |
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BlackRock Corporate High Yield Fund, Inc. (HYT)
(Percentages shown are based on Net Assets) |
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Common Stocks |
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Shares |
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Value |
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Capital Markets 1.7% |
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American Capital Ltd. (a) |
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1,522,327 |
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$ |
24,448,572 |
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Uranium Participation Corp. (a) |
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176,860 |
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579,935 |
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25,028,507 |
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Chemicals 0.1% |
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Advanced Emissions Solutions, Inc. (a) |
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168,580 |
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1,272,779 |
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Consumer Finance 1.4% |
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Ally Financial, Inc. (a) |
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1,126,277 |
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20,205,409 |
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Diversified Financial Services 0.0% |
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Concrete Investments II S.C.A. |
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4,997 |
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Kcad Holdings I Ltd. (a) |
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2,223,465,984 |
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22,235 |
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22,235 |
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Diversified Telecommunication Services 0.0% |
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Broadview Networks Holdings, Inc. (a) |
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192,400 |
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298,219 |
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Energy Equipment & Services 0.1% |
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Laricina Energy Ltd. (a)(b) |
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211,764 |
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2 |
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Osum Oil Sands Corp. (a)(b) |
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400,000 |
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921,737 |
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921,739 |
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Hotels, Restaurants & Leisure 0.4% |
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Amaya, Inc. (a) |
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377,280 |
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5,607,341 |
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Media 0.0% |
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Emmis Communications Corp., Class A (a) |
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28,840 |
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15,144 |
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Metals & Mining 0.1% |
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Peninsula Energy Ltd. (a) |
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2,051,920 |
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962,251 |
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Oil, Gas & Consumable Fuels 0.5% |
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Denbury Resources, Inc. (a) |
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138,760 |
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531,451 |
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Gener8 Maritime Corp. |
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965,338 |
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6,979,393 |
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7,510,844 |
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Real Estate Investment Trusts (REITs) 0.0% |
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MGM Growth Properties LLC (a) |
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3,465 |
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79,695 |
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Ovation Acquisition I LLC, (Acquired 12/29/15, cost $187,463) (c) |
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12,175 |
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12,175 |
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91,870 |
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Semiconductors & Semiconductor Equipment 0.0% |
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SunPower Corp. (a) |
|
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1,025 |
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17,968 |
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Wireless Telecommunication Services 0.2% |
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T-Mobile U.S., Inc. (a) |
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59,550 |
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2,546,358 |
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Total Common Stocks 4.5% |
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64,500,664 |
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Asset-Backed Securities (d)(e) 2.4% |
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Par
(000) |
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Value |
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ALM Loan Funding, Series 2013-7RA: |
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Class C, 4.09%, 4/24/24 |
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USD |
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2,340 |
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$ |
2,232,002 |
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Class D, 5.64%, 4/24/24 |
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2,360 |
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2,217,127 |
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ALM VII R-2, Ltd., Series 2013-7R2A, Class C, 4.09%, 4/24/24 |
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500 |
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476,920 |
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ALM XII Ltd., Series 2015-12A: |
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Class C1, 4.38%, 4/16/27 |
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1,500 |
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1,357,650 |
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Class D, 6.13%, 4/16/27 |
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250 |
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210,980 |
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ALM XIV Ltd., Series 2014-14A, Class C, 4.08%, 7/28/26 |
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500 |
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461,822 |
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AMMC CLO 18, Ltd., Series 2016-18A, Class D, 5.67%, 5/26/28 |
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500 |
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477,500 |
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AMMC CLO IX, Ltd., Series 2011-9A: |
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Class DR, 6.28%, 1/15/22 |
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1,000 |
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1,000,000 |
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Class ER, 8.28%, 1/15/22 |
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1,000 |
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|
971,030 |
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AMMC CLO Ltd., Series 2014-15A, Class C1, 4.10%, 12/09/26 |
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1,000 |
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|
992,500 |
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Apidos CLO XVIII, Series 2014-18A, Class C, 4.29%, 7/22/26 |
|
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550 |
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497,631 |
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Atlas Senior Loan Fund V Ltd., Series 2014-1A: |
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Class C, 3.63%, 7/16/26 |
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250 |
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245,242 |
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Class D, 4.08%, 7/16/26 |
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250 |
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220,032 |
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Avalon IV Capital Ltd., Series 2012-1AR, Class CR, 3.14%, 4/17/23 |
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850 |
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843,171 |
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Benefit Street Partners CLO, Ltd., Series 2014-IVA, Class C,
4.13%, 7/20/26 |
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500 |
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|
451,567 |
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BlueMountain CLO Ltd.: |
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Series 2014-1A, Class C, 3.39%, 4/30/26 |
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1,000 |
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976,233 |
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Series 2015-1A, Class D, 6.08%, 4/13/27 |
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|
750 |
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|
637,910 |
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Carlyle Global Market Strategies CLO Ltd., Series 2014-5A, Class C, 4.78%, 10/16/25 |
|
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1,000 |
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|
936,806 |
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Cedar Funding, Ltd., Series 2014-3A, Class D, 4.19%, 5/20/26 |
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|
535 |
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488,054 |
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CIFC Funding Ltd.: |
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|
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Series 2011-1A, Class D, 5.63%, 1/19/23 |
|
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750 |
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744,885 |
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Series 2014-2A, Class A3L, 3.51%, 5/24/26 |
|
|
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500 |
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489,166 |
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BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
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1 |
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Consolidated Schedule of Investments (continued) |
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BlackRock Corporate High Yield Fund, Inc. (HYT) |
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Asset-Backed Securities |
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Par
(000) |
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Value |
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Asset-Backed Securities (continued) |
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CIFC Funding Ltd. (continued): |
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Series 2014-3A, Class C1, 3.44%, 7/22/26 |
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USD |
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|
500 |
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$ |
484,991 |
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Dryden Senior Loan Fund, Series 2014-36A, Class D, 4.38%, 11/09/25 |
|
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|
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1,000 |
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|
887,709 |
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HPS Loan Management 9-2016, Ltd., Series 9A-2016, Class D2, 7.08%, 7/19/27 (f) |
|
|
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800 |
|
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|
720,960 |
|
LCM X LP, Series 10AR, Class ER, 5.82%, 4/15/22 |
|
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1,000 |
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916,328 |
|
LCM XIII LP, Series 13A, Class D, 4.43%, 1/19/23 |
|
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500 |
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|
454,932 |
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Madison Park Funding Ltd.: |
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|
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Series 2012-8AR, Class CR, 3.10%, 4/22/22 |
|
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500 |
|
|
|
499,829 |
|
Series 2012-8AR, Class DR, 4.15%, 4/22/22 |
|
|
|
|
|
|
250 |
|
|
|
244,497 |
|
Series 2014-14A, Class D, 4.23%, 7/20/26 |
|
|
|
|
|
|
500 |
|
|
|
451,770 |
|
Mill Creek II CLO, Ltd., Series 2016-1A, Class E, 8.37%, 4/20/28 |
|
|
|
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|
|
500 |
|
|
|
482,500 |
|
Neuberger Berman CLO XVII Ltd., Series 2014-17A, Class D, 4.19%, 8/04/25 |
|
|
|
|
|
|
500 |
|
|
|
453,083 |
|
Neuberger Berman CLO XVIII Ltd., Series 2014-18A: |
|
|
|
|
|
|
|
|
|
|
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Class B, 3.78%, 11/14/25 |
|
|
|
|
|
|
500 |
|
|
|
494,244 |
|
Class C, 4.38%, 11/14/25 |
|
|
|
|
|
|
1,500 |
|
|
|
1,331,552 |
|
Octagon Investment Partners 26 Ltd., Series 2016-1A, Class D, 5.57%, 4/15/27 |
|
|
|
|
|
|
500 |
|
|
|
494,841 |
|
Octagon Investment Partners XII Ltd., Series 2012-1AR, Class
ER, 5.78%, 5/05/23 |
|
|
|
|
|
|
1,200 |
|
|
|
1,086,528 |
|
Octagon Investment Partners XXII Ltd., Series 2014-1A: |
|
|
|
|
|
|
|
|
|
|
|
|
Class C1, 3.89%, 11/25/25 |
|
|
|
|
|
|
1,000 |
|
|
|
994,148 |
|
Class D1, 4.54%, 11/25/25 |
|
|
|
|
|
|
1,000 |
|
|
|
894,974 |
|
OneMain Financial Issuance Trust, Series 2015-2A: |
|
|
|
|
|
|
|
|
|
|
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|
Class C, 4.32%, 7/18/25 |
|
|
|
|
|
|
200 |
|
|
|
190,565 |
|
Class D, 5.64%, 7/18/25 |
|
|
|
|
|
|
200 |
|
|
|
190,927 |
|
OZLM IX Ltd., Series 2014-9A, Class C, 4.23%, 1/20/27 |
|
|
|
|
|
|
1,000 |
|
|
|
887,148 |
|
OZLM XII Ltd., Series 2015-12A, Class D, 6.04%, 4/30/27 |
|
|
|
|
|
|
250 |
|
|
|
201,345 |
|
Sound Point CLO Ltd., Series 2014-3A, Class D, 4.24%, 1/23/27 |
|
|
|
|
|
|
1,250 |
|
|
|
1,097,995 |
|
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|
|
|
|
|
|
|
|
|
|
|
|
Asset-Backed Securities |
|
|
Par
(000) |
|
|
Value |
|
Asset-Backed Securities (continued) |
|
Symphony CLO Ltd., Series 2016-17A, Class D, 5.52%, 4/15/28 |
|
|
USD |
|
|
|
250 |
|
|
$ |
246,735 |
|
Venture XIII CLO Ltd., Series 2013-13A, Class D, 4.21%, 6/10/25 |
|
|
|
|
|
|
1,000 |
|
|
|
906,380 |
|
Venture XIX CLO Ltd., Series 2014-19A, Class C, 3.93%, 1/15/27 |
|
|
|
|
|
|
700 |
|
|
|
696,052 |
|
Voya CLO Ltd., Series 2014-4A, Class C, 4.63%, 10/14/26 |
|
|
|
|
|
|
1,750 |
|
|
|
1,582,836 |
|
Total Asset-Backed Securities 2.4% |
|
|
|
33,821,097 |
|
|
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|
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|
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Corporate Bonds |
|
Aerospace & Defense 1.8% |
|
Accudyne Industries Borrower/Accudyne Industries LLC, 7.75%, 12/15/20 (e) |
|
|
|
|
|
|
2,663 |
|
|
|
2,210,290 |
|
Bombardier, Inc. (e): |
|
|
|
|
|
|
|
|
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|
|
|
7.50%, 3/15/18 |
|
|
|
|
|
|
337 |
|
|
|
343,740 |
|
5.50%, 9/15/18 |
|
|
|
|
|
|
880 |
|
|
|
862,400 |
|
6.00%, 10/15/22 |
|
|
|
|
|
|
872 |
|
|
|
745,560 |
|
7.50%, 3/15/25 |
|
|
|
|
|
|
3,027 |
|
|
|
2,663,760 |
|
KLX, Inc., 5.88%, 12/01/22 (e) |
|
|
|
|
|
|
1,700 |
|
|
|
1,674,500 |
|
Meccanica Holdings USA, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
6.25%, 7/15/19 |
|
|
|
|
|
|
100 |
|
|
|
109,250 |
|
6.25%, 1/15/40 |
|
|
|
|
|
|
100 |
|
|
|
96,750 |
|
TransDigm, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.50%, 10/15/20 |
|
|
|
|
|
|
1,563 |
|
|
|
1,600,121 |
|
6.00%, 7/15/22 |
|
|
|
|
|
|
7,850 |
|
|
|
7,987,375 |
|
6.50%, 7/15/24 |
|
|
|
|
|
|
4,160 |
|
|
|
4,243,200 |
|
6.38%, 6/15/26 (e)(f) |
|
|
|
|
|
|
2,912 |
|
|
|
2,915,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,452,586 |
|
Air Freight & Logistics 0.7% |
|
Air Medical Merger Sub Corp., 6.38%, 5/15/23 (e) |
|
|
|
|
|
|
1,321 |
|
|
|
1,291,278 |
|
National Air Cargo Group, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
11.88%, 5/02/18 |
|
|
|
|
|
|
616 |
|
|
|
616,190 |
|
11.88%, 5/08/18 |
|
|
|
|
|
|
635 |
|
|
|
634,797 |
|
XPO Logistics, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.88%, 9/01/19 (e) |
|
|
|
|
|
|
2,958 |
|
|
|
3,076,320 |
|
5.75%, 6/15/21 |
|
|
EUR |
|
|
|
150 |
|
|
|
161,175 |
|
6.50%, 6/15/22 (e) |
|
|
USD |
|
|
|
4,105 |
|
|
|
3,940,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,720,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Airlines 2.0% |
|
American Airlines Pass-Through Trust, Series 2013-2, Class C,
6.00%, 1/15/17 (e) |
|
|
USD |
|
|
|
6,336 |
|
|
$ |
6,430,958 |
|
Continental Airlines Pass-Through Trust, Series 1997-4, Class B,
6.90%, 7/02/18 |
|
|
|
|
|
|
106 |
|
|
|
108,229 |
|
Delta Air Lines Pass-Through Trust, Series 2009-1, Class B,
9.75%, 6/17/18 |
|
|
|
|
|
|
742 |
|
|
|
771,917 |
|
Norwegian Air Shuttle ASA Pass-Through Trust, Series 2016-1, Class B, 7.50%, 5/10/25 (e) |
|
|
|
|
|
|
1,895 |
|
|
|
1,876,050 |
|
US Airways Pass-Through Trust: |
|
|
|
|
|
|
|
|
|
|
|
|
Series 2012-2, Class C, 5.45%, 6/03/18 |
|
|
|
|
|
|
5,720 |
|
|
|
5,877,300 |
|
Series 2013-1, Class B, 5.38%, 5/15/23 |
|
|
|
|
|
|
4,764 |
|
|
|
4,900,278 |
|
Virgin Australia Trust, Series 2013-1 (e): |
|
|
|
|
|
|
|
|
|
|
|
|
Class C, 7.13%, 10/23/18 |
|
|
|
|
|
|
5,081 |
|
|
|
5,080,601 |
|
Class D, 8.50%, 10/23/16 |
|
|
|
|
|
|
3,403 |
|
|
|
3,438,611 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,483,944 |
|
Auto Components 2.0% |
|
|
|
|
|
|
|
|
|
|
|
|
CNH Industrial Finance Europe SA, 2.88%, 5/17/23 |
|
|
EUR |
|
|
|
725 |
|
|
|
797,596 |
|
Dakar Finance SA, (9.75% Cash PIK), 9.00%, 11/15/20 (g) |
|
|
|
|
|
|
325 |
|
|
|
359,803 |
|
Dana Holding Corp., 6.75%, 2/15/21 |
|
|
USD |
|
|
|
200 |
|
|
|
207,000 |
|
Faurecia, 3.63%, 6/15/23 |
|
|
EUR |
|
|
|
300 |
|
|
|
341,723 |
|
Fiat Chrysler Finance Europe: |
|
|
|
|
|
|
|
|
|
|
|
|
4.75%, 3/22/21 |
|
|
|
|
|
|
400 |
|
|
|
482,490 |
|
4.75%, 7/15/22 |
|
|
|
|
|
|
1,107 |
|
|
|
1,347,681 |
|
FTE Verwaltungs GmbH, 9.00%, 7/15/20 |
|
|
|
|
|
|
100 |
|
|
|
116,828 |
|
Gestamp Funding Luxembourg SA, 3.50%, 5/15/23 |
|
|
|
|
|
|
250 |
|
|
|
286,337 |
|
Goodyear Dunlop Tires Europe BV, 3.75%, 12/15/23 |
|
|
|
|
|
|
100 |
|
|
|
115,885 |
|
Goodyear Tire & Rubber Co.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.50%, 3/01/21 |
|
|
USD |
|
|
|
1,110 |
|
|
|
1,164,112 |
|
5.00%, 5/31/26 |
|
|
|
|
|
|
471 |
|
|
|
476,299 |
|
Icahn Enterprises LP/Icahn Enterprises Finance Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.88%, 3/15/19 |
|
|
|
|
|
|
7,711 |
|
|
|
7,450,754 |
|
5.88%, 2/01/22 |
|
|
|
|
|
|
1,836 |
|
|
|
1,689,120 |
|
Jaguar Land Rover Automotive PLC, 5.00%, 2/15/22 |
|
|
GBP |
|
|
|
753 |
|
|
|
1,128,779 |
|
Schaeffler Finance BV, 4.75%, 5/15/23 (e) |
|
|
USD |
|
|
|
1,440 |
|
|
|
1,475,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Auto Components (continued) |
|
Schaeffler Holding Finance BV (g): |
|
|
|
|
|
|
|
|
|
|
|
|
(5.75% Cash or 6.50% PIK), 5.75%, 11/15/21 |
|
|
EUR |
|
|
|
360 |
|
|
$ |
428,913 |
|
(6.25% Cash), 6.25%, 11/15/19 (e) |
|
|
USD |
|
|
|
2,130 |
|
|
|
2,225,850 |
|
(6.75% Cash), 6.75%, 11/15/22 (e) |
|
|
|
|
|
|
3,951 |
|
|
|
4,356,291 |
|
(6.88% Cash or 7.63% PIK), 6.88%, 8/15/18 (e) |
|
|
|
|
|
|
1,000 |
|
|
|
1,025,000 |
|
(6.88% Cash), 6.88%, 8/15/18 |
|
|
EUR |
|
|
|
510 |
|
|
|
551,653 |
|
UCI International, Inc., 8.63%, 2/15/19 (a)(h) |
|
|
USD |
|
|
|
7,080 |
|
|
|
1,964,700 |
|
ZF North America Capital, Inc., 4.50%, 4/29/22 (e) |
|
|
|
|
|
|
321 |
|
|
|
322,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,314,680 |
|
Banks 1.5% |
|
Allied Irish Banks PLC, 4.13%, 11/26/25 (d) |
|
|
EUR |
|
|
|
535 |
|
|
|
566,993 |
|
Banco de Sabadell SA, 5.63%, 5/06/26 |
|
|
|
|
|
|
300 |
|
|
|
338,775 |
|
Banco Espirito Santo SA (a)(h): |
|
|
|
|
|
|
|
|
|
|
|
|
4.75%, 1/15/18 |
|
|
|
|
|
|
1,900 |
|
|
|
465,088 |
|
4.00%, 1/21/19 |
|
|
|
|
|
|
1,100 |
|
|
|
269,261 |
|
Bankia SA, 4.00%, 5/22/24 (d) |
|
|
|
|
|
|
1,000 |
|
|
|
1,084,651 |
|
CIT Group, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.25%, 3/15/18 |
|
|
USD |
|
|
|
4,320 |
|
|
|
4,460,400 |
|
6.63%, 4/01/18 (e) |
|
|
|
|
|
|
1,400 |
|
|
|
1,476,566 |
|
5.50%, 2/15/19 (e) |
|
|
|
|
|
|
6,919 |
|
|
|
7,230,355 |
|
5.00%, 8/01/23 |
|
|
|
|
|
|
560 |
|
|
|
571,200 |
|
6.00%, 4/01/36 |
|
|
|
|
|
|
2,800 |
|
|
|
2,604,000 |
|
Commerzbank AG, 7.75%, 3/16/21 |
|
|
EUR |
|
|
|
400 |
|
|
|
538,784 |
|
HSH Nordbank AG, 0.54%, 2/14/17 (d) |
|
|
|
|
|
|
810 |
|
|
|
835,979 |
|
Ibercaja Banco SA, 5.00%, 7/28/25 (d) |
|
|
|
|
|
|
600 |
|
|
|
631,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,073,926 |
|
Beverages 0.0% |
|
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., 4.13%, 5/15/23 |
|
|
|
|
|
|
275 |
|
|
|
310,951 |
|
Horizon Holdings I SASU, 7.25%, 8/01/23 |
|
|
|
|
|
|
286 |
|
|
|
340,430 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
651,381 |
|
Biotechnology 0.1% |
|
Rapid Holding GmbH, 6.63%, 11/15/20 |
|
|
|
|
|
|
700 |
|
|
|
821,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
3 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Building Products 2.0% |
|
|
|
|
|
|
|
|
|
|
|
|
American Builders & Contractors Supply Co., Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.63%, 4/15/21 |
|
|
USD |
|
|
|
1,315 |
|
|
$ |
1,364,312 |
|
5.75%, 12/15/23 |
|
|
|
|
|
|
982 |
|
|
|
1,021,280 |
|
Builders FirstSource, Inc., 7.63%, 6/01/21 (e) |
|
|
|
|
|
|
1,087 |
|
|
|
1,141,350 |
|
Building Materials Corp. of America, 6.00%, 10/15/25 (e) |
|
|
|
|
|
|
4,118 |
|
|
|
4,375,375 |
|
Buzzi Unicem SpA, 2.13%, 4/28/23 |
|
|
EUR |
|
|
|
175 |
|
|
|
194,798 |
|
CPG Merger Sub LLC, 8.00%, 10/01/21 (e) |
|
|
USD |
|
|
|
4,330 |
|
|
|
4,091,850 |
|
HeidelbergCement AG, 2.25%, 3/30/23 |
|
|
EUR |
|
|
|
425 |
|
|
|
482,925 |
|
Masonite International Corp., 5.63%, 3/15/23 (e) |
|
|
USD |
|
|
|
2,950 |
|
|
|
3,082,750 |
|
Ply Gem Industries, Inc., 6.50%, 2/01/22 |
|
|
|
|
|
|
4,730 |
|
|
|
4,706,350 |
|
Standard Industries, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.13%, 2/15/21 |
|
|
|
|
|
|
949 |
|
|
|
984,588 |
|
5.50%, 2/15/23 |
|
|
|
|
|
|
1,576 |
|
|
|
1,623,280 |
|
USG Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
9.75%, 1/15/18 |
|
|
|
|
|
|
3,935 |
|
|
|
4,398,425 |
|
5.50%, 3/01/25 (e) |
|
|
|
|
|
|
1,234 |
|
|
|
1,311,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,778,408 |
|
Capital Markets 2.0% |
|
|
|
|
|
|
|
|
|
|
|
|
American Capital Ltd., 6.50%, 9/15/18 (e) |
|
|
|
|
|
|
3,840 |
|
|
|
3,916,800 |
|
Blackstone CQP Holdco LP, 9.30%, 3/19/19 |
|
|
|
|
|
|
19,829 |
|
|
|
19,779,678 |
|
E*Trade Financial Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.38%, 11/15/22 |
|
|
|
|
|
|
1,232 |
|
|
|
1,287,440 |
|
4.63%, 9/15/23 |
|
|
|
|
|
|
2,784 |
|
|
|
2,790,960 |
|
Series A, 0.00%, 8/31/19 (i)(j) |
|
|
|
|
|
|
373 |
|
|
|
998,032 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,772,910 |
|
Chemicals 1.5% |
|
|
|
|
|
|
|
|
|
|
|
|
Axalta Coating Systems US Holdings, Inc./Axalta Coating Systems Dutch Holding BV, 7.38%, 5/01/21 (e) |
|
|
|
|
|
|
1,760 |
|
|
|
1,864,368 |
|
Chemours Co.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.63%, 5/15/23 |
|
|
|
|
|
|
666 |
|
|
|
597,735 |
|
7.00%, 5/15/25 |
|
|
|
|
|
|
1,826 |
|
|
|
1,601,174 |
|
Huntsman International LLC: |
|
|
|
|
|
|
|
|
|
|
|
|
4.88%, 11/15/20 |
|
|
|
|
|
|
286 |
|
|
|
291,005 |
|
5.13%, 4/15/21 |
|
|
EUR |
|
|
|
679 |
|
|
|
777,776 |
|
5.13%, 11/15/22 |
|
|
USD |
|
|
|
1,254 |
|
|
|
1,263,405 |
|
Ineos Finance PLC, 4.00%, 5/01/23 |
|
|
EUR |
|
|
|
548 |
|
|
|
595,873 |
|
Inovyn Finance PLC, 6.25%, 5/15/21 |
|
|
|
|
|
|
200 |
|
|
|
230,597 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Chemicals (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Momentive Performance Materials, Inc., 3.88%, 10/24/21 |
|
|
USD |
|
|
|
4,488 |
|
|
$ |
3,590,400 |
|
Montichem Holdco 3 SA, 5.25%, 6/15/21 |
|
|
EUR |
|
|
|
311 |
|
|
|
346,726 |
|
NOVA Chemicals Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.25%, 8/01/23 |
|
|
USD |
|
|
|
349 |
|
|
|
349,873 |
|
5.00%, 5/01/25 |
|
|
|
|
|
|
415 |
|
|
|
409,813 |
|
Platform Specialty Products Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
10.38%, 5/01/21 |
|
|
|
|
|
|
468 |
|
|
|
477,360 |
|
6.50%, 2/01/22 |
|
|
|
|
|
|
7,560 |
|
|
|
6,714,225 |
|
PQ Corp., 6.75%, 11/15/22 (e) |
|
|
|
|
|
|
2,197 |
|
|
|
2,290,372 |
|
PSPC Escrow Corp., 6.00%, 2/01/23 |
|
|
EUR |
|
|
|
394 |
|
|
|
389,066 |
|
WR Grace & Co-Conn, 5.13%, 10/01/21 (e) |
|
|
USD |
|
|
|
232 |
|
|
|
240,554 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,030,322 |
|
Commercial Services & Supplies 1.7% |
|
|
|
|
|
|
|
|
|
|
|
|
AA Bond Co., Ltd., 5.50%, 7/31/43 |
|
|
GBP |
|
|
|
400 |
|
|
|
569,201 |
|
ADS Waste Holdings, Inc., 8.25%, 10/01/20 |
|
|
USD |
|
|
|
1,341 |
|
|
|
1,381,230 |
|
ADT Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
3.50%, 7/15/22 |
|
|
|
|
|
|
2,189 |
|
|
|
2,008,408 |
|
4.13%, 6/15/23 |
|
|
|
|
|
|
1,065 |
|
|
|
990,450 |
|
4.88%, 7/15/42 |
|
|
|
|
|
|
270 |
|
|
|
215,325 |
|
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.50%, 4/01/23 |
|
|
|
|
|
|
415 |
|
|
|
384,913 |
|
Bilbao Luxembourg SA, (10.50% Cash or 11.25% PIK), 10.50%, 12/01/18 (g) |
|
|
EUR |
|
|
|
428 |
|
|
|
465,312 |
|
Brand Energy & Infrastructure Services, Inc., 8.50%, 12/01/21 (e) |
|
|
USD |
|
|
|
1,875 |
|
|
|
1,781,250 |
|
Iron Mountain Europe PLC, 6.13%, 9/15/22 |
|
|
GBP |
|
|
|
100 |
|
|
|
149,180 |
|
Mobile Mini, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.88%, 12/01/20 |
|
|
USD |
|
|
|
2,040 |
|
|
|
2,121,600 |
|
5.88%, 7/01/24 (e) |
|
|
|
|
|
|
2,683 |
|
|
|
2,750,075 |
|
Mustang Merger Corp., 8.50%, 8/15/21 (e) |
|
|
|
|
|
|
2,688 |
|
|
|
2,808,960 |
|
Silk Bidco AS, 7.50%, 2/01/22 |
|
|
EUR |
|
|
|
247 |
|
|
|
283,069 |
|
United Rentals North America, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.38%, 5/15/20 |
|
|
USD |
|
|
|
504 |
|
|
|
524,160 |
|
7.63%, 4/15/22 |
|
|
|
|
|
|
5,555 |
|
|
|
5,909,131 |
|
5.75%, 11/15/24 |
|
|
|
|
|
|
1,354 |
|
|
|
1,357,385 |
|
Verisure Holding AB, 6.00%, 11/01/22 |
|
|
EUR |
|
|
|
775 |
|
|
|
924,821 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,624,470 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par (000) |
|
|
Value |
|
Communications Equipment 2.1% |
|
|
|
|
|
|
|
|
|
|
|
|
Alcatel-Lucent USA, Inc., 6.45%, 3/15/29 |
|
|
USD |
|
|
|
6,533 |
|
|
$ |
6,924,980 |
|
CommScope Technologies Finance LLC, 6.00%, 6/15/25 (e) |
|
|
|
|
|
|
2,125 |
|
|
|
2,162,188 |
|
CommScope, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
4.38%, 6/15/20 |
|
|
|
|
|
|
2,278 |
|
|
|
2,346,340 |
|
5.50%, 6/15/24 |
|
|
|
|
|
|
2,169 |
|
|
|
2,185,267 |
|
Nokia OYJ, 6.63%, 5/15/39 |
|
|
|
|
|
|
3,596 |
|
|
|
3,820,750 |
|
Zayo Group LLC/Zayo Capital, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.00%, 4/01/23 |
|
|
|
|
|
|
4,856 |
|
|
|
4,989,540 |
|
6.38%, 5/15/25 |
|
|
|
|
|
|
6,837 |
|
|
|
7,110,480 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
29,539,545 |
|
Construction & Engineering 0.6% |
|
|
|
|
|
|
|
|
|
|
|
|
AECOM Co.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.75%, 10/15/22 |
|
|
|
|
|
|
716 |
|
|
|
739,270 |
|
5.88%, 10/15/24 |
|
|
|
|
|
|
2,124 |
|
|
|
2,198,340 |
|
BlueLine Rental Finance Corp., 7.00%, 2/01/19 (e) |
|
|
|
|
|
|
2,187 |
|
|
|
1,848,015 |
|
Novafives SAS, 4.50%, 6/30/21 |
|
|
EUR |
|
|
|
120 |
|
|
|
122,169 |
|
Safway Group Holding LLC/Safway Finance Corp., 7.00%, 5/15/18 (e) |
|
|
USD |
|
|
|
2,412 |
|
|
|
2,436,120 |
|
Swissport Investments SA, 6.75%, 12/15/21 |
|
|
EUR |
|
|
|
827 |
|
|
|
950,067 |
|
Weekley Homes LLC/Weekley Finance Corp., 6.00%, 2/01/23 |
|
|
USD |
|
|
|
862 |
|
|
|
801,660 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,095,641 |
|
Construction Materials 2.3% |
|
|
|
|
|
|
|
|
|
|
|
|
American Tire Distributors, Inc., 10.25%, 3/01/22 (e) |
|
|
|
|
|
|
1,839 |
|
|
|
1,593,034 |
|
Beacon Roofing Supply, Inc., 6.38%, 10/01/23 |
|
|
|
|
|
|
566 |
|
|
|
599,960 |
|
HD Supply, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.50%, 7/15/20 |
|
|
|
|
|
|
10,167 |
|
|
|
10,726,185 |
|
5.25%, 12/15/21 (e) |
|
|
|
|
|
|
10,967 |
|
|
|
11,542,767 |
|
5.75%, 4/15/24 (e) |
|
|
|
|
|
|
3,888 |
|
|
|
4,043,520 |
|
LKQ Italia Bondco SpA, 3.88%, 4/01/24 |
|
|
EUR |
|
|
|
500 |
|
|
|
576,492 |
|
Officine MaccaFerri SpA, 5.75%, 6/01/21 |
|
|
|
|
|
|
675 |
|
|
|
676,152 |
|
PulteGroup, Inc., 5.50%, 3/01/26 |
|
|
USD |
|
|
|
1,571 |
|
|
|
1,601,446 |
|
Rexel SA, 3.50%, 6/15/23 |
|
|
EUR |
|
|
|
972 |
|
|
|
1,103,126 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32,462,682 |
|
Consumer Finance 2.0% |
|
|
|
|
|
|
|
|
|
|
|
|
Alliance Data Systems Corp., 5.38%, 8/01/22 (e) |
|
|
USD |
|
|
|
503 |
|
|
|
487,910 |
|
Ally Financial, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.13%, 9/30/24 |
|
|
|
|
|
|
1,230 |
|
|
|
1,268,438 |
|
4.63%, 3/30/25 |
|
|
|
|
|
|
2,029 |
|
|
|
2,023,927 |
|
8.00%, 11/01/31 |
|
|
|
|
|
|
18,930 |
|
|
|
22,242,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par (000) |
|
|
Value |
|
Consumer Finance (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Navient Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.50%, 1/25/23 |
|
|
USD |
|
|
|
165 |
|
|
$ |
141,900 |
|
6.13%, 3/25/24 |
|
|
|
|
|
|
642 |
|
|
|
565,562 |
|
5.88%, 10/25/24 |
|
|
|
|
|
|
723 |
|
|
|
618,165 |
|
OneMain Financial Holdings LLC (e): |
|
|
|
|
|
|
|
|
|
|
|
|
6.75%, 12/15/19 |
|
|
|
|
|
|
915 |
|
|
|
924,150 |
|
7.25%, 12/15/21 |
|
|
|
|
|
|
180 |
|
|
|
180,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,453,702 |
|
Containers & Packaging 2.0% |
|
|
|
|
|
|
|
|
|
|
|
|
Ardagh Packaging Finance PLC, 9.13%, 10/15/20 (e) |
|
|
|
|
|
|
1,670 |
|
|
|
1,750,160 |
|
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.75%, 1/31/21 (e) |
|
|
|
|
|
|
1,458 |
|
|
|
1,468,935 |
|
3.88%, 5/15/21 (d)(e) |
|
|
|
|
|
|
1,118 |
|
|
|
1,120,795 |
|
6.00%, 6/30/21 (e) |
|
|
|
|
|
|
1,752 |
|
|
|
1,725,720 |
|
4.25%, 1/15/22 |
|
|
EUR |
|
|
|
591 |
|
|
|
669,906 |
|
6.75%, 5/15/24 |
|
|
|
|
|
|
650 |
|
|
|
734,071 |
|
Ardagh Packaging Finance PLC/Ardagh MP Holdings USA, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
6.25%, 1/31/19 |
|
|
USD |
|
|
|
3,493 |
|
|
|
3,536,662 |
|
4.63%, 5/15/23 |
|
|
|
|
|
|
1,738 |
|
|
|
1,729,310 |
|
7.25%, 5/15/24 |
|
|
|
|
|
|
4,008 |
|
|
|
4,088,160 |
|
Ball Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.38%, 12/15/20 |
|
|
|
|
|
|
843 |
|
|
|
880,935 |
|
4.00%, 11/15/23 |
|
|
|
|
|
|
1,374 |
|
|
|
1,344,802 |
|
4.38%, 12/15/23 |
|
|
EUR |
|
|
|
577 |
|
|
|
693,969 |
|
Beverage Packaging Holdings Luxembourg II SA (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.63%, 12/15/16 |
|
|
USD |
|
|
|
978 |
|
|
|
976,778 |
|
6.00%, 6/15/17 |
|
|
|
|
|
|
1,642 |
|
|
|
1,642,000 |
|
Crown European Holdings SA: |
|
|
|
|
|
|
|
|
|
|
|
|
4.00%, 7/15/22 |
|
|
EUR |
|
|
|
658 |
|
|
|
788,863 |
|
3.38%, 5/15/25 |
|
|
|
|
|
|
503 |
|
|
|
565,092 |
|
JH-Holding Finance SA, (8.25% Cash), 8.25%, 12/01/22 (g) |
|
|
|
|
|
|
300 |
|
|
|
355,692 |
|
Sappi Papier Holding GmbH, 4.00%, 4/01/23 |
|
|
|
|
|
|
150 |
|
|
|
170,235 |
|
Sealed Air Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.88%, 12/01/22 (e) |
|
|
USD |
|
|
|
709 |
|
|
|
724,953 |
|
4.50%, 9/15/23 |
|
|
EUR |
|
|
|
560 |
|
|
|
660,021 |
|
5.13%, 12/01/24 (e) |
|
|
USD |
|
|
|
1,976 |
|
|
|
2,030,340 |
|
SGD Group SAS, 5.63%, 5/15/19 |
|
|
EUR |
|
|
|
205 |
|
|
|
234,936 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,892,335 |
|
Diversified Consumer Services 0.3% |
|
|
|
|
|
|
|
|
|
|
|
|
APX Group, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.38%, 12/01/19 |
|
|
USD |
|
|
|
326 |
|
|
|
322,740 |
|
8.75%, 12/01/20 |
|
|
|
|
|
|
627 |
|
|
|
570,570 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
5 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Diversified Consumer Services (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Cognita Financing PLC, 7.75%, 8/15/21 |
|
|
GBP |
|
|
|
225 |
|
|
$ |
333,211 |
|
Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25%, 5/15/23 (e) |
|
|
USD |
|
|
|
1,774 |
|
|
|
1,849,395 |
|
Service Corp. International, 5.38%, 5/15/24 |
|
|
|
|
|
|
1,690 |
|
|
|
1,749,150 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,825,066 |
|
Diversified Financial Services 3.7% |
|
|
|
|
|
|
|
|
|
|
|
|
AerCap Ireland Capital Ltd./AerCap Global Aviation Trust: |
|
|
|
|
|
|
|
|
|
|
|
|
4.63%, 10/30/20 |
|
|
|
|
|
|
3,053 |
|
|
|
3,159,855 |
|
4.50%, 5/15/21 |
|
|
|
|
|
|
780 |
|
|
|
802,425 |
|
5.00%, 10/01/21 |
|
|
|
|
|
|
4,340 |
|
|
|
4,546,150 |
|
4.63%, 7/01/22 |
|
|
|
|
|
|
691 |
|
|
|
708,275 |
|
Aircastle Ltd.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.63%, 4/15/20 |
|
|
|
|
|
|
128 |
|
|
|
145,200 |
|
5.13%, 3/15/21 |
|
|
|
|
|
|
1,572 |
|
|
|
1,658,460 |
|
5.50%, 2/15/22 |
|
|
|
|
|
|
1,590 |
|
|
|
1,677,450 |
|
5.00%, 4/01/23 |
|
|
|
|
|
|
1,004 |
|
|
|
1,026,590 |
|
Deutsche Bank AG, 4.50%, 5/19/26 |
|
|
EUR |
|
|
|
600 |
|
|
|
663,023 |
|
DFC Finance Corp., 10.50%, 6/15/20 (e) |
|
|
USD |
|
|
|
2,045 |
|
|
|
1,283,237 |
|
Gala Group Finance PLC, 8.88%, 9/01/18 |
|
|
GBP |
|
|
|
681 |
|
|
|
1,015,266 |
|
Garfunkelux Holdco 3 SA, 8.50%, 11/01/22 |
|
|
|
|
|
|
225 |
|
|
|
329,594 |
|
HRG Group, Inc., 7.88%, 7/15/19 |
|
|
USD |
|
|
|
2,745 |
|
|
|
2,895,975 |
|
International Lease Finance Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.88%, 4/01/19 |
|
|
|
|
|
|
160 |
|
|
|
171,000 |
|
8.25%, 12/15/20 |
|
|
|
|
|
|
150 |
|
|
|
176,438 |
|
4.63%, 4/15/21 |
|
|
|
|
|
|
687 |
|
|
|
709,328 |
|
5.88%, 8/15/22 |
|
|
|
|
|
|
4,010 |
|
|
|
4,375,912 |
|
Jefferies Finance LLC/JFIN Co-Issuer Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
7.38%, 4/01/20 |
|
|
|
|
|
|
2,695 |
|
|
|
2,533,300 |
|
6.88%, 4/15/22 |
|
|
|
|
|
|
2,552 |
|
|
|
2,245,760 |
|
Lehman Brother Holding Escrow, 1.00%, 9/22/18 |
|
|
|
|
|
|
430 |
|
|
|
33,325 |
|
Lehman Brothers Holdings, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.38%, 10/17/16 |
|
|
EUR |
|
|
|
350 |
|
|
|
34,620 |
|
4.75%, 1/16/17 |
|
|
|
|
|
|
1,890 |
|
|
|
186,949 |
|
1.00%, 2/05/17 |
|
|
|
|
|
|
3,950 |
|
|
|
395,547 |
|
1.00%, 12/31/49 |
|
|
USD |
|
|
|
1,535 |
|
|
|
118,963 |
|
Mercury Bondco PLC, (8.25% Cash, 9.00% PIK), 8.25%, 5/30/21 (g) |
|
|
EUR |
|
|
|
564 |
|
|
|
639,832 |
|
MSCI, Inc., 5.75%, 8/15/25 (e) |
|
|
USD |
|
|
|
807 |
|
|
|
849,367 |
|
Pershing Square Holdings, Ltd., 5.50%, 7/15/22 (e) |
|
|
|
|
|
|
2,100 |
|
|
|
1,974,000 |
|
ProGroup AG, 5.13%, 5/01/22 |
|
|
EUR |
|
|
|
206 |
|
|
|
243,554 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Diversified Financial Services (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Reynolds Group Issuer, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
8.50%, 5/15/18 |
|
|
USD |
|
|
|
1,700 |
|
|
$ |
1,704,250 |
|
9.00%, 4/15/19 |
|
|
|
|
|
|
210 |
|
|
|
214,200 |
|
9.88%, 8/15/19 |
|
|
|
|
|
|
2,084 |
|
|
|
2,164,755 |
|
5.75%, 10/15/20 |
|
|
|
|
|
|
6,454 |
|
|
|
6,655,687 |
|
8.25%, 2/15/21 |
|
|
|
|
|
|
6,056 |
|
|
|
6,290,973 |
|
UniCredit SpA: |
|
|
|
|
|
|
|
|
|
|
|
|
6.95%, 10/31/22 |
|
|
EUR |
|
|
|
475 |
|
|
|
610,070 |
|
5.75%, 10/28/25 (d) |
|
|
|
|
|
|
700 |
|
|
|
830,891 |
|
4.38%, 1/03/27 (d)(f) |
|
|
|
|
|
|
375 |
|
|
|
416,868 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
53,487,089 |
|
Diversified Telecommunication Services 3.4% |
|
|
|
|
|
|
|
|
|
|
|
|
CenturyLink, Inc., 6.45%, 6/15/21 |
|
|
USD |
|
|
|
6,545 |
|
|
|
6,643,175 |
|
Consolidated Communications, Inc., 6.50%, 10/01/22 |
|
|
|
|
|
|
1,020 |
|
|
|
928,200 |
|
Frontier Communications Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
8.50%, 4/15/20 |
|
|
|
|
|
|
2,275 |
|
|
|
2,408,656 |
|
6.25%, 9/15/21 |
|
|
|
|
|
|
3,005 |
|
|
|
2,802,162 |
|
7.13%, 1/15/23 |
|
|
|
|
|
|
1,330 |
|
|
|
1,187,025 |
|
7.63%, 4/15/24 |
|
|
|
|
|
|
1,897 |
|
|
|
1,674,102 |
|
6.88%, 1/15/25 |
|
|
|
|
|
|
4,331 |
|
|
|
3,605,557 |
|
Level 3 Financing, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.38%, 8/15/22 |
|
|
|
|
|
|
432 |
|
|
|
438,480 |
|
5.63%, 2/01/23 |
|
|
|
|
|
|
2,311 |
|
|
|
2,360,109 |
|
5.13%, 5/01/23 |
|
|
|
|
|
|
3,232 |
|
|
|
3,248,160 |
|
5.38%, 1/15/24 |
|
|
|
|
|
|
1,771 |
|
|
|
1,802,347 |
|
5.38%, 5/01/25 |
|
|
|
|
|
|
4,730 |
|
|
|
4,813,721 |
|
5.25%, 3/15/26 (e) |
|
|
|
|
|
|
2,308 |
|
|
|
2,302,230 |
|
OTE PLC, 3.50%, 7/09/20 |
|
|
EUR |
|
|
|
200 |
|
|
|
222,530 |
|
SoftBank Group Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.75%, 7/30/25 |
|
|
|
|
|
|
110 |
|
|
|
131,106 |
|
5.25%, 7/30/27 |
|
|
|
|
|
|
100 |
|
|
|
116,828 |
|
Telecom Italia Capital SA: |
|
|
|
|
|
|
|
|
|
|
|
|
6.38%, 11/15/33 |
|
|
USD |
|
|
|
745 |
|
|
|
739,413 |
|
6.00%, 9/30/34 |
|
|
|
|
|
|
2,890 |
|
|
|
2,738,275 |
|
7.20%, 7/18/36 |
|
|
|
|
|
|
690 |
|
|
|
705,180 |
|
Telecom Italia Finance SA, 7.75%, 1/24/33 |
|
|
EUR |
|
|
|
380 |
|
|
|
568,126 |
|
Telecom Italia SpA: |
|
|
|
|
|
|
|
|
|
|
|
|
6.38%, 6/24/19 |
|
|
GBP |
|
|
|
900 |
|
|
|
1,432,855 |
|
3.25%, 1/16/23 |
|
|
EUR |
|
|
|
300 |
|
|
|
352,152 |
|
5.88%, 5/19/23 |
|
|
GBP |
|
|
|
1,900 |
|
|
|
3,021,547 |
|
Telenet Finance V Luxembourg SCA: |
|
|
|
|
|
|
|
|
|
|
|
|
6.25%, 8/15/22 |
|
|
EUR |
|
|
|
1,362 |
|
|
|
1,637,119 |
|
6.75%, 8/15/24 |
|
|
|
|
|
|
1,982 |
|
|
|
2,464,569 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
48,343,624 |
|
Electric Utilities 0.0% |
|
|
|
|
|
|
|
|
|
|
|
|
Viridian Group FundCo II Ltd., 7.50%, 3/01/20 |
|
|
|
|
|
|
454 |
|
|
|
537,346 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Electrical Equipment 0.3% |
|
Areva SA, 4.88%, 9/23/24 |
|
|
EUR |
|
|
|
150 |
|
|
$ |
122,727 |
|
Belden, Inc., 5.50%, 4/15/23 |
|
|
|
|
|
|
672 |
|
|
|
763,776 |
|
International Wire Group Holdings, Inc., 8.50%, 10/15/17 (e) |
|
|
USD |
|
|
|
1,421 |
|
|
|
1,410,342 |
|
Trionista Holdco GmbH, 5.00%, 4/30/20 |
|
|
EUR |
|
|
|
1,405 |
|
|
|
1,606,264 |
|
Trionista TopCo GmbH, 6.88%, 4/30/21 |
|
|
|
|
|
|
418 |
|
|
|
489,389 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,392,498 |
|
Electronic Equipment, Instruments & Components 0.7% |
|
|
|
|
|
|
|
|
|
|
|
|
CDW LLC/CDW Finance Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.00%, 9/01/23 |
|
|
USD |
|
|
|
4,354 |
|
|
|
4,375,770 |
|
5.50%, 12/01/24 |
|
|
|
|
|
|
5,917 |
|
|
|
6,079,717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,455,487 |
|
Energy Equipment & Services 0.8% |
|
|
|
|
|
|
|
|
|
|
|
|
Ensco PLC: |
|
|
|
|
|
|
|
|
|
|
|
|
4.70%, 3/15/21 |
|
|
|
|
|
|
515 |
|
|
|
404,275 |
|
4.50%, 10/01/24 |
|
|
|
|
|
|
1,189 |
|
|
|
743,125 |
|
5.20%, 3/15/25 |
|
|
|
|
|
|
1,717 |
|
|
|
1,140,946 |
|
Gates Global LLC / Gates Global Co.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.75%, 7/15/22 |
|
|
EUR |
|
|
|
110 |
|
|
|
103,105 |
|
6.00%, 7/15/22 (e) |
|
|
USD |
|
|
|
794 |
|
|
|
696,537 |
|
Genesis Energy LP/Genesis Energy Finance Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.75%, 2/15/21 |
|
|
|
|
|
|
283 |
|
|
|
263,190 |
|
6.75%, 8/01/22 |
|
|
|
|
|
|
1,526 |
|
|
|
1,449,700 |
|
Noble Holding International Ltd.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.63%, 3/01/21 |
|
|
|
|
|
|
195 |
|
|
|
147,225 |
|
6.95%, 4/01/25 |
|
|
|
|
|
|
505 |
|
|
|
369,913 |
|
Transocean, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
3.75%, 10/15/17 |
|
|
|
|
|
|
1,339 |
|
|
|
1,302,177 |
|
6.00%, 3/15/18 |
|
|
|
|
|
|
3,455 |
|
|
|
3,351,350 |
|
7.38%, 4/15/18 |
|
|
|
|
|
|
175 |
|
|
|
170,406 |
|
6.50%, 11/15/20 |
|
|
|
|
|
|
1,019 |
|
|
|
787,178 |
|
5.05%, 10/15/22 |
|
|
|
|
|
|
642 |
|
|
|
404,460 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,333,587 |
|
Environmental, Maintenance, & Security Service 0.0% |
|
|
|
|
|
|
|
|
|
|
|
|
Befesa Zinc SAU Via Zinc Capital SA, 8.88%, 5/15/18 |
|
|
EUR |
|
|
|
189 |
|
|
|
210,291 |
|
Food & Staples Retailing 2.5% |
|
|
|
|
|
|
|
|
|
|
|
|
Albertsons Cos. LLC/Safeway, Inc./New Albertsons, Inc./Albertsons LLC, 6.63%, 6/15/24 (e) |
|
|
USD |
|
|
|
1,853 |
|
|
|
1,897,009 |
|
Bakkavor Finance 2 PLC, 8.25%, 2/15/18 |
|
|
GBP |
|
|
|
326 |
|
|
|
483,134 |
|
Brakes Capital, 7.13%, 12/15/18 |
|
|
|
|
|
|
830 |
|
|
|
1,247,330 |
|
Casino Guichard Perrachon SA: |
|
|
|
|
|
|
|
|
|
|
|
|
5.98%, 5/26/21 |
|
|
EUR |
|
|
|
200 |
|
|
|
257,117 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Food & Staples Retailing (continued) |
|
Casino Guichard Perrachon SA (continued): |
|
|
|
|
|
|
|
|
|
|
|
|
3.31%, 1/25/23 |
|
|
EUR |
|
|
|
600 |
|
|
$ |
704,893 |
|
3.25%, 3/07/24 |
|
|
|
|
|
|
600 |
|
|
|
691,868 |
|
2.33%, 2/07/25 |
|
|
|
|
|
|
200 |
|
|
|
216,038 |
|
Dollar Tree, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.25%, 3/01/20 |
|
|
USD |
|
|
|
497 |
|
|
|
518,123 |
|
5.75%, 3/01/23 |
|
|
|
|
|
|
12,814 |
|
|
|
13,534,787 |
|
Family Dollar Stores, Inc., 5.00%, 2/01/21 |
|
|
|
|
|
|
1,434 |
|
|
|
1,523,625 |
|
R&R Ice Cream PLC: |
|
|
|
|
|
|
|
|
|
|
|
|
4.75%, 5/15/20 |
|
|
EUR |
|
|
|
745 |
|
|
|
846,597 |
|
(9.25% Cash or 10.00% PIK), 9.25%, 5/15/18 (g) |
|
|
|
|
|
|
823 |
|
|
|
920,646 |
|
Rite Aid Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
9.25%, 3/15/20 |
|
|
USD |
|
|
|
2,080 |
|
|
|
2,194,400 |
|
6.75%, 6/15/21 |
|
|
|
|
|
|
1,091 |
|
|
|
1,148,277 |
|
6.13%, 4/01/23 (e) |
|
|
|
|
|
|
9,022 |
|
|
|
9,540,765 |
|
Tesco PLC: |
|
|
|
|
|
|
|
|
|
|
|
|
5.00%, 3/24/23 |
|
|
GBP |
|
|
|
100 |
|
|
|
150,245 |
|
2.50%, 7/01/24 |
|
|
EUR |
|
|
|
130 |
|
|
|
141,435 |
|
6.00%, 12/14/29 |
|
|
|
|
|
|
100 |
|
|
|
148,454 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
36,164,743 |
|
Food Products 1.4% |
|
|
|
|
|
|
|
|
|
|
|
|
Acosta, Inc., 7.75%, 10/01/22 (e) |
|
|
USD |
|
|
|
3,347 |
|
|
|
3,229,855 |
|
Aramark Services, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.75%, 3/15/20 |
|
|
|
|
|
|
321 |
|
|
|
331,232 |
|
5.13%, 1/15/24 (e) |
|
|
|
|
|
|
934 |
|
|
|
969,025 |
|
5.13%, 1/15/24 |
|
|
|
|
|
|
1,712 |
|
|
|
1,776,200 |
|
Darling Global Finance BV, 4.75%, 5/30/22 |
|
|
EUR |
|
|
|
100 |
|
|
|
113,760 |
|
JBS USA LLC/JBS USA Finance, Inc., 5.75%, 6/15/25 (e) |
|
|
USD |
|
|
|
817 |
|
|
|
780,235 |
|
Pinnacle Foods Finance Corp., 5.88%, 1/15/24 (e) |
|
|
|
|
|
|
445 |
|
|
|
467,250 |
|
Post Holdings, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
7.75%, 3/15/24 |
|
|
|
|
|
|
4,599 |
|
|
|
4,995,664 |
|
8.00%, 7/15/25 |
|
|
|
|
|
|
1,826 |
|
|
|
2,026,860 |
|
Smithfield Foods, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.88%, 8/01/21 (e) |
|
|
|
|
|
|
891 |
|
|
|
928,867 |
|
6.63%, 8/15/22 |
|
|
|
|
|
|
1,516 |
|
|
|
1,591,800 |
|
TreeHouse Foods, Inc., 6.00%, 2/15/24 (e) |
|
|
|
|
|
|
976 |
|
|
|
1,027,240 |
|
WhiteWave Foods Co., 5.38%, 10/01/22 |
|
|
|
|
|
|
1,255 |
|
|
|
1,341,281 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,579,269 |
|
Health Care Equipment & Supplies 1.0% |
|
|
|
|
|
|
|
|
|
|
|
|
3AB Optique Development SAS, 5.63%, 4/15/19 |
|
|
EUR |
|
|
|
100 |
|
|
|
109,040 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
7 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Health Care Equipment & Supplies (continued) |
|
Crimson Merger Sub, Inc., 6.63%, 5/15/22 (e) |
|
|
USD |
|
|
|
3,373 |
|
|
$ |
2,753,211 |
|
DJO Finance LLC/DJO Finance Corp., 8.13%, 6/15/21 (e) |
|
|
|
|
|
|
6,387 |
|
|
|
5,732,332 |
|
Fresenius Medical Care US Finance, Inc., 5.75%, 2/15/21 (e) |
|
|
|
|
|
|
1,580 |
|
|
|
1,753,800 |
|
IDH Finance PLC, 6.00%, 12/01/18 |
|
|
GBP |
|
|
|
414 |
|
|
|
596,703 |
|
Kinetic Concepts, Inc./KCI USA, Inc., 7.88%, 2/15/21 (e) |
|
|
USD |
|
|
|
667 |
|
|
|
715,544 |
|
Mallinckrodt International Finance SA/Mallinckrodt CB LLC (e): |
|
|
|
|
|
|
|
|
|
|
|
|
4.88%, 4/15/20 |
|
|
|
|
|
|
980 |
|
|
|
950,600 |
|
5.75%, 8/01/22 |
|
|
|
|
|
|
1,250 |
|
|
|
1,181,250 |
|
Teleflex, Inc., 4.88%, 6/01/26 |
|
|
|
|
|
|
684 |
|
|
|
685,710 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,478,190 |
|
Health Care Providers & Services 7.2% |
|
Acadia Healthcare Co., Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.13%, 7/01/22 |
|
|
|
|
|
|
502 |
|
|
|
504,510 |
|
5.63%, 2/15/23 |
|
|
|
|
|
|
1,533 |
|
|
|
1,557,911 |
|
6.50%, 3/01/24 (e) |
|
|
|
|
|
|
434 |
|
|
|
450,397 |
|
Alere, Inc., 6.38%, 7/01/23 (e) |
|
|
|
|
|
|
2,013 |
|
|
|
2,099,317 |
|
Amsurg Corp., 5.63%, 7/15/22 |
|
|
|
|
|
|
5,476 |
|
|
|
5,558,140 |
|
Centene Corp., 4.75%, 5/15/22 |
|
|
|
|
|
|
2,427 |
|
|
|
2,493,742 |
|
Centene Escrow Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.63%, 2/15/21 |
|
|
|
|
|
|
2,516 |
|
|
|
2,616,640 |
|
6.13%, 2/15/24 |
|
|
|
|
|
|
1,484 |
|
|
|
1,562,845 |
|
CHS/Community Health Systems, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.13%, 8/15/18 |
|
|
|
|
|
|
427 |
|
|
|
434,946 |
|
6.88%, 2/01/22 |
|
|
|
|
|
|
3,208 |
|
|
|
2,756,923 |
|
DaVita HealthCare Partners, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.13%, 7/15/24 |
|
|
|
|
|
|
1,398 |
|
|
|
1,416,873 |
|
5.00%, 5/01/25 |
|
|
|
|
|
|
5,416 |
|
|
|
5,368,610 |
|
Envision Healthcare Corp., 5.13%, 7/01/22 (e) |
|
|
|
|
|
|
835 |
|
|
|
837,088 |
|
ExamWorks Group, Inc., 5.63%, 4/15/23 |
|
|
|
|
|
|
1,076 |
|
|
|
1,154,010 |
|
HCA Holdings, Inc., 6.25%, 2/15/21 |
|
|
|
|
|
|
1,805 |
|
|
|
1,931,350 |
|
HCA, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
3.75%, 3/15/19 |
|
|
|
|
|
|
2,911 |
|
|
|
2,998,330 |
|
6.50%, 2/15/20 |
|
|
|
|
|
|
4,735 |
|
|
|
5,208,500 |
|
7.50%, 2/15/22 |
|
|
|
|
|
|
4,261 |
|
|
|
4,830,909 |
|
5.88%, 3/15/22 |
|
|
|
|
|
|
1,840 |
|
|
|
1,987,200 |
|
4.75%, 5/01/23 |
|
|
|
|
|
|
1,487 |
|
|
|
1,516,740 |
|
5.88%, 5/01/23 |
|
|
|
|
|
|
4,096 |
|
|
|
4,336,640 |
|
5.00%, 3/15/24 |
|
|
|
|
|
|
1,955 |
|
|
|
2,006,319 |
|
5.38%, 2/01/25 |
|
|
|
|
|
|
6,060 |
|
|
|
6,150,900 |
|
5.88%, 2/15/26 |
|
|
|
|
|
|
3,125 |
|
|
|
3,234,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Health Care Providers & Services (continued) |
|
HealthSouth Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.13%, 3/15/23 |
|
|
USD |
|
|
|
2,840 |
|
|
$ |
2,769,000 |
|
5.75%, 11/01/24 |
|
|
|
|
|
|
2,360 |
|
|
|
2,392,450 |
|
5.75%, 9/15/25 |
|
|
|
|
|
|
2,065 |
|
|
|
2,085,650 |
|
Hologic, Inc., 5.25%, 7/15/22 (e) |
|
|
|
|
|
|
2,620 |
|
|
|
2,741,175 |
|
MEDNAX, Inc., 5.25%, 12/01/23 (e) |
|
|
|
|
|
|
1,134 |
|
|
|
1,160,229 |
|
MPH Acquisition Holdings LLC (e): |
|
|
|
|
|
|
|
|
|
|
|
|
6.63%, 4/01/22 |
|
|
|
|
|
|
1,280 |
|
|
|
1,395,200 |
|
7.13%, 6/01/24 (f) |
|
|
|
|
|
|
2,051 |
|
|
|
2,107,403 |
|
RegionalCare Hospital Partners Holdings, Inc., 8.25%, 5/01/23 (e) |
|
|
|
|
|
|
2,609 |
|
|
|
2,685,652 |
|
Sterigenics-Nordion Holdings LLC, 6.50%, 5/15/23 (e) |
|
|
|
|
|
|
424 |
|
|
|
431,420 |
|
Surgery Center Holdings, Inc., 8.88%, 4/15/21 (e) |
|
|
|
|
|
|
388 |
|
|
|
389,940 |
|
Surgical Care Affiliates, Inc., 6.00%, 4/01/23 (e) |
|
|
|
|
|
|
2,641 |
|
|
|
2,713,627 |
|
Tenet Healthcare Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.25%, 11/01/18 |
|
|
|
|
|
|
1,308 |
|
|
|
1,383,210 |
|
4.75%, 6/01/20 |
|
|
|
|
|
|
1,805 |
|
|
|
1,846,741 |
|
4.15%, 6/15/20 (d)(e) |
|
|
|
|
|
|
1,432 |
|
|
|
1,424,840 |
|
6.00%, 10/01/20 |
|
|
|
|
|
|
3,835 |
|
|
|
4,036,337 |
|
4.50%, 4/01/21 |
|
|
|
|
|
|
74 |
|
|
|
74,463 |
|
4.38%, 10/01/21 |
|
|
|
|
|
|
525 |
|
|
|
521,063 |
|
8.13%, 4/01/22 |
|
|
|
|
|
|
1,933 |
|
|
|
1,945,081 |
|
6.75%, 6/15/23 |
|
|
|
|
|
|
6,195 |
|
|
|
5,823,300 |
|
Voyage Care Bondco PLC, 6.50%, 8/01/18 |
|
|
GBP |
|
|
|
586 |
|
|
|
837,979 |
|
WellCare Health Plans, Inc., 5.75%, 11/15/20 |
|
|
USD |
|
|
|
1,066 |
|
|
|
1,104,643 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
102,882,618 |
|
Health Care Technology 0.1% |
|
IMS Health, Inc., 6.00%, 11/01/20 (e) |
|
|
|
|
|
|
795 |
|
|
|
814,160 |
|
Hotels, Restaurants & Leisure 4.3% |
|
Boyd Gaming Corp., 6.88%, 5/15/23 |
|
|
|
|
|
|
1,736 |
|
|
|
1,820,196 |
|
Caesars Entertainment Resort Properties LLC/Caesars Entertainment Resort Property, 8.00%, 10/01/20 |
|
|
|
|
|
|
5,070 |
|
|
|
5,108,025 |
|
Carlson Travel Holdings, Inc., (7.50% Cash or 8.25% PIK), 7.50%, 8/15/19 (e)(g) |
|
|
|
|
|
|
654 |
|
|
|
632,745 |
|
Cedar Fair LP/Canadas Wonderland Co., 5.38%, 6/01/24 |
|
|
|
|
|
|
1,070 |
|
|
|
1,112,800 |
|
Cirsa Funding Luxembourg SA: |
|
|
|
|
|
|
|
|
|
|
|
|
5.75%, 5/15/21 |
|
|
EUR |
|
|
|
325 |
|
|
|
372,008 |
|
5.88%, 5/15/23 |
|
|
|
|
|
|
356 |
|
|
|
404,422 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
Par (000) |
|
|
Value |
|
Hotels, Restaurants & Leisure (continued) |
|
CPUK Finance, Ltd., 7.00%, 2/28/42 |
|
|
GBP |
|
|
|
275 |
|
|
$ |
417,813 |
|
Enterprise Funding Ltd., Series ETI, 3.50%, 9/10/20 (j) |
|
|
|
|
|
|
400 |
|
|
|
451,016 |
|
ESH Hospitality, Inc., 5.25%, 5/01/25 (e) |
|
|
USD |
|
|
|
4,690 |
|
|
|
4,549,300 |
|
Gala Electric Casinos PLC, 11.50%, 6/01/19 |
|
|
GBP |
|
|
|
426 |
|
|
|
640,650 |
|
GLP Capital LP / GLP Financing II, Inc., 4.38%, 4/15/21 |
|
|
USD |
|
|
|
355 |
|
|
|
363,875 |
|
International Game Technology PLC: |
|
|
|
|
|
|
|
|
|
|
|
|
6.25%, 2/15/22 (e) |
|
|
|
|
|
|
400 |
|
|
|
407,000 |
|
4.75%, 2/15/23 |
|
|
EUR |
|
|
|
310 |
|
|
|
361,305 |
|
MGM Resorts International: |
|
|
|
|
|
|
|
|
|
|
|
|
8.63%, 2/01/19 |
|
|
USD |
|
|
|
790 |
|
|
|
894,675 |
|
6.75%, 10/01/20 |
|
|
|
|
|
|
4,460 |
|
|
|
4,852,480 |
|
6.63%, 12/15/21 |
|
|
|
|
|
|
1,130 |
|
|
|
1,218,987 |
|
6.00%, 3/15/23 |
|
|
|
|
|
|
2,891 |
|
|
|
3,021,095 |
|
MGP Escrow Issuer LLC/MGP Escrow Co-Issuer, Inc., 5.63%, 5/01/24 (e) |
|
|
|
|
|
|
6,825 |
|
|
|
7,166,250 |
|
New Red Finance, Inc., 6.00%, 4/01/22 (e) |
|
|
|
|
|
|
4,455 |
|
|
|
4,616,494 |
|
Pinnacle Entertainment, Inc., 5.63%, 5/01/24 (e) |
|
|
|
|
|
|
483 |
|
|
|
472,133 |
|
Pizzaexpress Financing 1 PLC, 8.63%, 8/01/22 |
|
|
GBP |
|
|
|
100 |
|
|
|
141,926 |
|
Pizzaexpress Financing 2 PLC, 6.63%, 8/01/21 |
|
|
|
|
|
|
600 |
|
|
|
866,910 |
|
PortAventura Entertainment Barcelona BV, 7.25%, 12/01/20 |
|
|
EUR |
|
|
|
439 |
|
|
|
510,524 |
|
Regal Entertainment Group, 5.75%, 2/01/25 |
|
|
USD |
|
|
|
489 |
|
|
|
495,112 |
|
Sabre GLBL, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.38%, 4/15/23 |
|
|
|
|
|
|
1,516 |
|
|
|
1,550,110 |
|
5.25%, 11/15/23 |
|
|
|
|
|
|
807 |
|
|
|
824,149 |
|
Scientific Games International, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.00%, 1/01/22 (e) |
|
|
|
|
|
|
2,476 |
|
|
|
2,500,760 |
|
10.00%, 12/01/22 |
|
|
|
|
|
|
558 |
|
|
|
451,980 |
|
Six Flags Entertainment Corp., 5.25%, 1/15/21 (e) |
|
|
|
|
|
|
3,247 |
|
|
|
3,362,658 |
|
Snai SpA, 7.63%, 6/15/18 |
|
|
EUR |
|
|
|
866 |
|
|
|
1,006,915 |
|
Station Casinos LLC, 7.50%, 3/01/21 |
|
|
USD |
|
|
|
5,785 |
|
|
|
6,088,712 |
|
Tropicana Entertainment LLC/Tropicana Finance Corp., 9.63%, 12/15/16 (a)(h) |
|
|
|
|
|
|
1,850 |
|
|
|
|
|
Unique Pub Finance Co. PLC: |
|
|
|
|
|
|
|
|
|
|
|
|
Series A3, 6.54%, 3/30/21 |
|
|
GBP |
|
|
|
790 |
|
|
|
1,171,873 |
|
Series A4, 5.66%, 6/30/27 |
|
|
|
|
|
|
785 |
|
|
|
1,119,866 |
|
Series N, 6.46%, 3/30/32 |
|
|
|
|
|
|
1,000 |
|
|
|
1,225,346 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
Par (000) |
|
|
Value |
|
Hotels, Restaurants & Leisure (continued) |
|
Vougeot Bidco PLC, 7.88%, 7/15/20 |
|
|
GBP |
|
|
|
520 |
|
|
$ |
787,109 |
|
Yum! Brands, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
3.75%, 11/01/21 |
|
|
USD |
|
|
|
526 |
|
|
|
507,590 |
|
3.88%, 11/01/23 |
|
|
|
|
|
|
195 |
|
|
|
179,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
61,674,209 |
|
Household Durables 2.2% |
|
Beazer Homes USA, Inc., 6.63%, 4/15/18 |
|
|
|
|
|
|
215 |
|
|
|
219,358 |
|
Brookfield Residential Properties, Inc./Brookfield Residential US Corp., 6.13%, 7/01/22 (e) |
|
|
|
|
|
|
1,604 |
|
|
|
1,527,810 |
|
CalAtlantic Group Inc., 8.38%, 1/15/21 |
|
|
|
|
|
|
4,270 |
|
|
|
5,006,575 |
|
DR Horton, Inc., 4.00%, 2/15/20 |
|
|
|
|
|
|
2,408 |
|
|
|
2,486,260 |
|
Lennar Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.50%, 11/15/19 |
|
|
|
|
|
|
2,482 |
|
|
|
2,571,972 |
|
4.75%, 4/01/21 |
|
|
|
|
|
|
1,909 |
|
|
|
1,951,953 |
|
4.75%, 11/15/22 |
|
|
|
|
|
|
158 |
|
|
|
156,815 |
|
4.88%, 12/15/23 |
|
|
|
|
|
|
968 |
|
|
|
955,900 |
|
Project Homestake Merger Co., 8.88%, 3/01/23 (e) |
|
|
|
|
|
|
1,502 |
|
|
|
1,547,060 |
|
PulteGroup, Inc., 6.38%, 5/15/33 |
|
|
|
|
|
|
2,805 |
|
|
|
2,847,075 |
|
Ryland Group, Inc., 6.63%, 5/01/20 |
|
|
|
|
|
|
1,160 |
|
|
|
1,278,900 |
|
Standard Pacific Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
10.75%, 9/15/16 |
|
|
|
|
|
|
3,420 |
|
|
|
3,505,500 |
|
5.88%, 11/15/24 |
|
|
|
|
|
|
1,480 |
|
|
|
1,561,400 |
|
TRI Pointe Group, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.38%, 6/15/19 |
|
|
|
|
|
|
1,060 |
|
|
|
1,060,000 |
|
4.88%, 7/01/21 |
|
|
|
|
|
|
1,275 |
|
|
|
1,276,594 |
|
5.88%, 6/15/24 |
|
|
|
|
|
|
1,540 |
|
|
|
1,536,150 |
|
William Lyon Homes, Inc., 8.50%, 11/15/20 |
|
|
|
|
|
|
2,304 |
|
|
|
2,396,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31,885,482 |
|
Household Products 0.6% |
|
Prestige Brands, Inc., 6.38%, 3/01/24 (e) |
|
|
|
|
|
|
1,026 |
|
|
|
1,079,865 |
|
Spectrum Brands, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.38%, 11/15/20 |
|
|
|
|
|
|
2,125 |
|
|
|
2,228,594 |
|
6.63%, 11/15/22 |
|
|
|
|
|
|
1,385 |
|
|
|
1,475,897 |
|
6.13%, 12/15/24 |
|
|
|
|
|
|
1,220 |
|
|
|
1,290,150 |
|
5.75%, 7/15/25 |
|
|
|
|
|
|
1,721 |
|
|
|
1,798,445 |
|
Tempur Sealy International, Inc., 5.50%, 6/15/26 (e) |
|
|
|
|
|
|
944 |
|
|
|
948,720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,821,671 |
|
Independent Power and Renewable Electricity Producers 1.5% |
|
Calpine Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.00%, 1/15/22 (e) |
|
|
|
|
|
|
991 |
|
|
|
1,039,311 |
|
5.38%, 1/15/23 |
|
|
|
|
|
|
629 |
|
|
|
614,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
9 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par (000) |
|
|
Value |
|
Independent Power and Renewable Electricity Producers (continued) |
|
Calpine Corp. (continued): |
|
|
|
|
|
|
|
|
|
|
|
|
5.88%, 1/15/24 (e) |
|
|
USD |
|
|
|
1,999 |
|
|
$ |
2,093,953 |
|
5.50%, 2/01/24 |
|
|
|
|
|
|
1,985 |
|
|
|
1,919,868 |
|
5.75%, 1/15/25 |
|
|
|
|
|
|
2,301 |
|
|
|
2,226,217 |
|
Dynegy, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.75%, 11/01/19 |
|
|
|
|
|
|
4,240 |
|
|
|
4,250,600 |
|
7.38%, 11/01/22 |
|
|
|
|
|
|
1,300 |
|
|
|
1,254,500 |
|
MPM Escrow LLC, 8.88%, 10/15/20 |
|
|
|
|
|
|
3,738 |
|
|
|
|
|
NRG Energy, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
8.25%, 9/01/20 |
|
|
|
|
|
|
155 |
|
|
|
160,813 |
|
7.88%, 5/15/21 |
|
|
|
|
|
|
1,841 |
|
|
|
1,910,038 |
|
6.63%, 3/15/23 |
|
|
|
|
|
|
210 |
|
|
|
208,425 |
|
7.25%, 5/15/26 (e) |
|
|
|
|
|
|
3,230 |
|
|
|
3,221,925 |
|
NRG Yield Operating LLC, 5.38%, 8/15/24 |
|
|
|
|
|
|
645 |
|
|
|
620,813 |
|
QEP Resources, Inc., 5.38%, 10/01/22 |
|
|
|
|
|
|
2,563 |
|
|
|
2,383,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,904,704 |
|
Insurance 0.9% |
|
|
|
|
|
|
|
|
|
|
|
|
Assicurazioni Generali SpA, 5.25%, 6/08/48 (f) |
|
|
EUR |
|
|
|
125 |
|
|
|
138,066 |
|
Credit Agricole Assurances SA, 4.50% (d)(k) |
|
|
|
|
|
|
200 |
|
|
|
217,405 |
|
HUB International Ltd. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
9.25%, 2/15/21 |
|
|
USD |
|
|
|
874 |
|
|
|
908,960 |
|
7.88%, 10/01/21 |
|
|
|
|
|
|
5,484 |
|
|
|
5,374,320 |
|
Pension Insurance Corp. PLC, 6.50%, 7/03/24 |
|
|
GBP |
|
|
|
775 |
|
|
|
1,038,994 |
|
Radian Group, Inc., 7.00%, 3/15/21 |
|
|
USD |
|
|
|
786 |
|
|
|
833,160 |
|
TMF Group Holding BV, 9.88%, 12/01/19 |
|
|
EUR |
|
|
|
570 |
|
|
|
678,758 |
|
Trader Corp., 9.88%, 8/15/18 (e) |
|
|
USD |
|
|
|
1,220 |
|
|
|
1,262,700 |
|
Wayne Merger Sub LLC, 8.25%, 8/01/23 (e) |
|
|
|
|
|
|
2,687 |
|
|
|
2,666,847 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,119,210 |
|
Internet Software & Services 0.6% |
|
|
|
|
|
|
|
|
|
|
|
|
Blue Coat Holdings, Inc., 8.38%, 6/01/23 (e) |
|
|
|
|
|
|
2,707 |
|
|
|
2,906,641 |
|
Equinix, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.38%, 1/01/22 |
|
|
|
|
|
|
1,110 |
|
|
|
1,143,300 |
|
5.88%, 1/15/26 |
|
|
|
|
|
|
2,567 |
|
|
|
2,676,098 |
|
Netflix, Inc., 5.50%, 2/15/22 |
|
|
|
|
|
|
1,992 |
|
|
|
2,079,150 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,805,189 |
|
IT Services 3.2% |
|
|
|
|
|
|
|
|
|
|
|
|
Ceridian HCM Holding, Inc., 11.00%, 3/15/21 (e) |
|
|
|
|
|
|
1,349 |
|
|
|
1,352,373 |
|
First Data Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.38%, 8/15/23 |
|
|
|
|
|
|
5,725 |
|
|
|
5,868,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par (000) |
|
|
Value |
|
IT Services (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
First Data Corp. (e) (continued): |
|
|
|
|
|
|
|
|
|
|
|
|
7.00%, 12/01/23 |
|
|
USD |
|
|
|
13,314 |
|
|
$ |
13,497,067 |
|
5.00%, 1/15/24 |
|
|
|
|
|
|
4,402 |
|
|
|
4,399,227 |
|
5.75%, 1/15/24 |
|
|
|
|
|
|
16,685 |
|
|
|
16,685,000 |
|
WEX, Inc., 4.75%, 2/01/23 (e) |
|
|
|
|
|
|
4,804 |
|
|
|
4,419,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
46,221,472 |
|
Machinery 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
Gardner Denver, Inc., 6.88%, 8/15/21 (e) |
|
|
|
|
|
|
730 |
|
|
|
625,975 |
|
Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc., 6.38%, 5/01/22 |
|
|
EUR |
|
|
|
490 |
|
|
|
564,281 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,190,256 |
|
Media 15.3% |
|
|
|
|
|
|
|
|
|
|
|
|
Altice Financing SA: |
|
|
|
|
|
|
|
|
|
|
|
|
6.50%, 1/15/22 (e) |
|
|
USD |
|
|
|
1,945 |
|
|
|
1,979,038 |
|
5.25%, 2/15/23 |
|
|
EUR |
|
|
|
485 |
|
|
|
556,499 |
|
7.50%, 5/15/26 (e) |
|
|
USD |
|
|
|
1,259 |
|
|
|
1,255,853 |
|
Altice Luxembourg SA: |
|
|
|
|
|
|
|
|
|
|
|
|
7.25%, 5/15/22 |
|
|
EUR |
|
|
|
858 |
|
|
|
971,360 |
|
7.75%, 5/15/22 (e) |
|
|
USD |
|
|
|
2,649 |
|
|
|
2,713,569 |
|
6.25%, 2/15/25 |
|
|
EUR |
|
|
|
542 |
|
|
|
565,365 |
|
7.63%, 2/15/25 (e) |
|
|
USD |
|
|
|
1,797 |
|
|
|
1,774,538 |
|
Altice US Finance I Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.38%, 7/15/23 |
|
|
|
|
|
|
6,270 |
|
|
|
6,382,108 |
|
5.50%, 5/15/26 |
|
|
|
|
|
|
2,435 |
|
|
|
2,483,700 |
|
Altice US Finance II Corp., 7.75%, 7/15/25 (e) |
|
|
|
|
|
|
6,029 |
|
|
|
6,255,087 |
|
AMC Networks, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.75%, 12/15/22 |
|
|
|
|
|
|
1,613 |
|
|
|
1,613,000 |
|
5.00%, 4/01/24 |
|
|
|
|
|
|
756 |
|
|
|
757,890 |
|
CCO Holdings LLC/CCO Holdings Capital Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.25%, 9/30/22 |
|
|
|
|
|
|
1,235 |
|
|
|
1,268,963 |
|
5.13%, 5/01/23 (e) |
|
|
|
|
|
|
678 |
|
|
|
686,475 |
|
5.88%, 4/01/24 (e) |
|
|
|
|
|
|
3,589 |
|
|
|
3,741,532 |
|
5.75%, 2/15/26 (e) |
|
|
|
|
|
|
1,227 |
|
|
|
1,257,675 |
|
5.50%, 5/01/26 (e) |
|
|
|
|
|
|
3,108 |
|
|
|
3,139,080 |
|
5.88%, 5/01/27 (e) |
|
|
|
|
|
|
6,267 |
|
|
|
6,415,841 |
|
Cengage Learning Acquisitions, Inc., 11.50%, 4/15/20 |
|
|
|
|
|
|
3,439 |
|
|
|
|
|
Cequel Communications Holdings I LLC/Cequel Capital Corp., 5.13%, 12/15/21 (e) |
|
|
|
|
|
|
4,349 |
|
|
|
4,151,064 |
|
Clear Channel International BV, 8.75%, 12/15/20 (e) |
|
|
|
|
|
|
3,146 |
|
|
|
3,240,380 |
|
Clear Channel Worldwide Holdings, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.50%, 11/15/22 |
|
|
|
|
|
|
15,207 |
|
|
|
15,170,157 |
|
Series B, 7.63%, 3/15/20 |
|
|
|
|
|
|
5,090 |
|
|
|
4,886,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Media (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Columbus International, Inc., 7.38%, 3/30/21 (e) |
|
|
USD |
|
|
|
2,647 |
|
|
$ |
2,774,718 |
|
CSC Holdings LLC, 5.25%, 6/01/24 |
|
|
|
|
|
|
5,315 |
|
|
|
4,783,500 |
|
DISH DBS Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.25%, 4/01/18 |
|
|
|
|
|
|
3,209 |
|
|
|
3,289,225 |
|
6.75%, 6/01/21 |
|
|
|
|
|
|
134 |
|
|
|
138,797 |
|
5.88%, 7/15/22 |
|
|
|
|
|
|
539 |
|
|
|
521,483 |
|
5.00%, 3/15/23 |
|
|
|
|
|
|
5,022 |
|
|
|
4,570,020 |
|
5.88%, 11/15/24 |
|
|
|
|
|
|
3,338 |
|
|
|
3,089,352 |
|
DreamWorks Animation SKG, Inc., 6.88%, 8/15/20 (e) |
|
|
|
|
|
|
541 |
|
|
|
574,136 |
|
Gray Television, Inc., 7.50%, 10/01/20 |
|
|
|
|
|
|
1,318 |
|
|
|
1,382,253 |
|
iHeartCommunications, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
9.00%, 12/15/19 |
|
|
|
|
|
|
1,801 |
|
|
|
1,413,785 |
|
9.00%, 3/01/21 |
|
|
|
|
|
|
241 |
|
|
|
179,846 |
|
9.00%, 9/15/22 |
|
|
|
|
|
|
3,845 |
|
|
|
2,835,687 |
|
10.63%, 3/15/23 |
|
|
|
|
|
|
770 |
|
|
|
569,800 |
|
Intelsat Jackson Holdings SA: |
|
|
|
|
|
|
|
|
|
|
|
|
7.25%, 10/15/20 |
|
|
|
|
|
|
2,929 |
|
|
|
2,042,977 |
|
6.63%, 12/15/22 |
|
|
|
|
|
|
1,335 |
|
|
|
897,788 |
|
5.50%, 8/01/23 |
|
|
|
|
|
|
2,761 |
|
|
|
1,773,943 |
|
8.00%, 2/15/24 (e) |
|
|
|
|
|
|
4,888 |
|
|
|
4,979,650 |
|
Lamar Media Corp., 5.75%, 2/01/26 (e) |
|
|
|
|
|
|
526 |
|
|
|
553,615 |
|
LGE HoldCo VI BV, 7.13%, 5/15/24 |
|
|
EUR |
|
|
|
300 |
|
|
|
368,009 |
|
Live Nation Entertainment, Inc., 7.00%, 9/01/20 (e) |
|
|
USD |
|
|
|
987 |
|
|
|
1,035,472 |
|
McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance, 7.88%, 5/15/24 (e) |
|
|
|
|
|
|
639 |
|
|
|
664,560 |
|
MDC Partners, Inc., 6.50%, 5/01/24 (e) |
|
|
|
|
|
|
2,992 |
|
|
|
2,894,760 |
|
Midcontinent Communications & Midcontinent Finance Corp., 6.25%, 8/01/21 (e) |
|
|
|
|
|
|
3,901 |
|
|
|
4,037,535 |
|
NAI Entertainment Holdings/NAI Entertainment Holdings Finance Corp., 5.00%, 8/01/18 (e) |
|
|
|
|
|
|
2,039 |
|
|
|
2,079,780 |
|
Neptune Finco Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
10.13%, 1/15/23 |
|
|
|
|
|
|
4,025 |
|
|
|
4,508,000 |
|
6.63%, 10/15/25 |
|
|
|
|
|
|
2,461 |
|
|
|
2,628,373 |
|
Nielsen Finance LLC/Nielsen Finance Co., 5.00%, 4/15/22 (e) |
|
|
|
|
|
|
5,232 |
|
|
|
5,349,720 |
|
Numericable Group SA: |
|
|
|
|
|
|
|
|
|
|
|
|
5.38%, 5/15/22 |
|
|
EUR |
|
|
|
280 |
|
|
|
323,365 |
|
6.00%, 5/15/22 (e) |
|
|
USD |
|
|
|
4,689 |
|
|
|
4,667,899 |
|
5.63%, 5/15/24 |
|
|
EUR |
|
|
|
760 |
|
|
|
877,325 |
|
7.38%, 5/01/26 (e) |
|
|
USD |
|
|
|
10,344 |
|
|
|
10,434,510 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
Par
(000) |
|
|
Value |
|
Media (continued) |
|
Numericable-SFR SA, 5.63%, 5/15/24 |
|
|
EUR |
|
|
|
700 |
|
|
$ |
808,062 |
|
Outfront Media Capital LLC/Outfront Media Capital Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.25%, 2/15/22 |
|
|
USD |
|
|
|
650 |
|
|
|
660,563 |
|
5.63%, 2/15/24 |
|
|
|
|
|
|
1,064 |
|
|
|
1,101,240 |
|
Play Finance 2 SA, 5.25%, 2/01/19 |
|
|
EUR |
|
|
|
1,070 |
|
|
|
1,223,585 |
|
Radio One, Inc., 7.38%, 4/15/22 (e) |
|
|
USD |
|
|
|
805 |
|
|
|
768,775 |
|
RCN Telecom Services LLC/RCN Capital Corp., 8.50%, 8/15/20 (e) |
|
|
|
|
|
|
1,130 |
|
|
|
1,163,900 |
|
Sirius XM Radio, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
4.25%, 5/15/20 |
|
|
|
|
|
|
2,204 |
|
|
|
2,245,325 |
|
5.75%, 8/01/21 |
|
|
|
|
|
|
1,811 |
|
|
|
1,894,759 |
|
4.63%, 5/15/23 |
|
|
|
|
|
|
345 |
|
|
|
338,963 |
|
Sterling Entertainment Corp., 9.75%, 12/15/19 |
|
|
|
|
|
|
4,810 |
|
|
|
4,761,900 |
|
TEGNA, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.13%, 10/15/19 |
|
|
|
|
|
|
857 |
|
|
|
882,710 |
|
4.88%, 9/15/21 (e) |
|
|
|
|
|
|
1,827 |
|
|
|
1,863,540 |
|
5.50%, 9/15/24 (e) |
|
|
|
|
|
|
1,308 |
|
|
|
1,350,510 |
|
Townsquare Media, Inc., 6.50%, 4/01/23 (e) |
|
|
|
|
|
|
517 |
|
|
|
497,613 |
|
Tribune Media Co., 5.88%, 7/15/22 |
|
|
|
|
|
|
3,434 |
|
|
|
3,468,340 |
|
Unitymedia GmbH, 3.75%, 1/15/27 |
|
|
EUR |
|
|
|
100 |
|
|
|
101,808 |
|
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH: |
|
|
|
|
|
|
|
|
|
|
|
|
5.50%, 1/15/23 (e) |
|
|
USD |
|
|
|
4,302 |
|
|
|
4,436,437 |
|
5.63%, 4/15/23 |
|
|
EUR |
|
|
|
166 |
|
|
|
199,031 |
|
4.00%, 1/15/25 |
|
|
|
|
|
|
1,411 |
|
|
|
1,598,994 |
|
5.00%, 1/15/25 (e) |
|
|
USD |
|
|
|
1,354 |
|
|
|
1,360,770 |
|
4.63%, 2/15/26 |
|
|
EUR |
|
|
|
100 |
|
|
|
116,133 |
|
3.50%, 1/15/27 |
|
|
|
|
|
|
400 |
|
|
|
430,774 |
|
Univision Communications, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
8.50%, 5/15/21 |
|
|
USD |
|
|
|
784 |
|
|
|
819,280 |
|
5.13%, 5/15/23 |
|
|
|
|
|
|
10,883 |
|
|
|
10,964,622 |
|
5.13%, 2/15/25 |
|
|
|
|
|
|
7,930 |
|
|
|
7,870,525 |
|
UPCB Finance IV Ltd., 4.00%, 1/15/27 |
|
|
EUR |
|
|
|
400 |
|
|
|
435,046 |
|
Virgin Media Finance PLC: |
|
|
|
|
|
|
|
|
|
|
|
|
6.38%, 10/15/24 |
|
|
GBP |
|
|
|
500 |
|
|
|
736,848 |
|
4.50%, 1/15/25 |
|
|
EUR |
|
|
|
183 |
|
|
|
199,034 |
|
5.75%, 1/15/25 (e) |
|
|
USD |
|
|
|
2,405 |
|
|
|
2,398,987 |
|
Virgin Media Secured Finance PLC: |
|
|
|
|
|
|
|
|
|
|
|
|
6.00%, 4/15/21 |
|
|
GBP |
|
|
|
4,052 |
|
|
|
6,111,963 |
|
5.50%, 8/15/26 (e) |
|
|
USD |
|
|
|
1,144 |
|
|
|
1,155,440 |
|
4.88%, 1/15/27 |
|
|
GBP |
|
|
|
200 |
|
|
|
274,100 |
|
6.25%, 3/28/29 |
|
|
|
|
|
|
829 |
|
|
|
1,205,184 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
11 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Media (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
WaveDivision Escrow LLC/WaveDivision Escrow Corp., 8.13%, 9/01/20 (e) |
|
|
USD |
|
|
|
4,428 |
|
|
$ |
4,560,840 |
|
Wind Acquisition Finance SA, 7.00%, 4/23/21 |
|
|
EUR |
|
|
|
500 |
|
|
|
534,072 |
|
Ziggo Bond Finance BV: |
|
|
|
|
|
|
|
|
|
|
|
|
4.63%, 1/15/25 |
|
|
|
|
|
|
259 |
|
|
|
281,692 |
|
5.88%, 1/15/25 (e) |
|
|
USD |
|
|
|
2,643 |
|
|
|
2,616,570 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
218,943,392 |
|
Metals & Mining 5.9% |
|
|
|
|
|
|
|
|
|
|
|
|
Alcoa, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.15%, 8/15/20 |
|
|
|
|
|
|
1,330 |
|
|
|
1,428,919 |
|
5.13%, 10/01/24 |
|
|
|
|
|
|
3,854 |
|
|
|
3,717,915 |
|
5.90%, 2/01/27 |
|
|
|
|
|
|
215 |
|
|
|
207,675 |
|
6.75%, 1/15/28 |
|
|
|
|
|
|
477 |
|
|
|
474,615 |
|
5.95%, 2/01/37 |
|
|
|
|
|
|
264 |
|
|
|
232,323 |
|
Anglo American Capital PLC: |
|
|
|
|
|
|
|
|
|
|
|
|
1.75%, 11/20/17 |
|
|
EUR |
|
|
|
100 |
|
|
|
110,598 |
|
6.88%, 5/01/18 |
|
|
GBP |
|
|
|
100 |
|
|
|
150,716 |
|
2.50%, 9/18/18 |
|
|
EUR |
|
|
|
100 |
|
|
|
110,305 |
|
2.75%, 6/07/19 |
|
|
|
|
|
|
100 |
|
|
|
108,411 |
|
3.63%, 5/14/20 (e) |
|
|
USD |
|
|
|
1,116 |
|
|
|
1,057,410 |
|
4.45%, 9/27/20 (e) |
|
|
|
|
|
|
412 |
|
|
|
392,945 |
|
2.88%, 11/20/20 |
|
|
EUR |
|
|
|
200 |
|
|
|
205,342 |
|
3.50%, 3/28/22 |
|
|
|
|
|
|
100 |
|
|
|
102,265 |
|
4.13%, 9/27/22 (e) |
|
|
USD |
|
|
|
1,656 |
|
|
|
1,502,820 |
|
3.25%, 4/03/23 |
|
|
EUR |
|
|
|
100 |
|
|
|
99,452 |
|
ArcelorMittal: |
|
|
|
|
|
|
|
|
|
|
|
|
6.13%, 6/01/18 |
|
|
USD |
|
|
|
2,342 |
|
|
|
2,444,462 |
|
7.25%, 2/25/22 |
|
|
|
|
|
|
115 |
|
|
|
120,175 |
|
7.75%, 3/01/41 |
|
|
|
|
|
|
1,305 |
|
|
|
1,200,600 |
|
Constellium NV (e): |
|
|
|
|
|
|
|
|
|
|
|
|
8.00%, 1/15/23 |
|
|
|
|
|
|
6,525 |
|
|
|
5,709,375 |
|
5.75%, 5/15/24 |
|
|
|
|
|
|
4,689 |
|
|
|
3,657,420 |
|
First Quantum Minerals Ltd. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
7.00%, 2/15/21 |
|
|
|
|
|
|
392 |
|
|
|
309,435 |
|
7.25%, 5/15/22 |
|
|
|
|
|
|
1,883 |
|
|
|
1,440,495 |
|
Freeport-McMoRan, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
2.30%, 11/14/17 |
|
|
|
|
|
|
1,337 |
|
|
|
1,303,575 |
|
2.38%, 3/15/18 |
|
|
|
|
|
|
11,047 |
|
|
|
10,715,590 |
|
3.10%, 3/15/20 |
|
|
|
|
|
|
820 |
|
|
|
747,738 |
|
4.00%, 11/14/21 |
|
|
|
|
|
|
1,980 |
|
|
|
1,717,650 |
|
3.55%, 3/01/22 |
|
|
|
|
|
|
4,279 |
|
|
|
3,583,662 |
|
3.88%, 3/15/23 |
|
|
|
|
|
|
5,173 |
|
|
|
4,254,792 |
|
5.40%, 11/14/34 |
|
|
|
|
|
|
2,334 |
|
|
|
1,768,005 |
|
5.45%, 3/15/43 |
|
|
|
|
|
|
1,007 |
|
|
|
759,973 |
|
Glencore Finance Europe SA: |
|
|
|
|
|
|
|
|
|
|
|
|
4.63%, 4/03/18 |
|
|
EUR |
|
|
|
200 |
|
|
|
234,791 |
|
3.38%, 9/30/20 |
|
|
|
|
|
|
200 |
|
|
|
225,868 |
|
Joseph T Ryerson & Son, Inc., 11.00%, 5/15/22 (e) |
|
|
USD |
|
|
|
1,378 |
|
|
|
1,415,895 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Metals & Mining (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Kaiser Aluminum Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
8.25%, 6/01/20 |
|
|
USD |
|
|
|
1,240 |
|
|
$ |
1,291,150 |
|
5.88%, 5/15/24 (e) |
|
|
|
|
|
|
773 |
|
|
|
793,407 |
|
Novelis, Inc., 8.75%, 12/15/20 |
|
|
|
|
|
|
11,642 |
|
|
|
12,078,575 |
|
Ovako AB, 6.50%, 6/01/19 |
|
|
EUR |
|
|
|
196 |
|
|
|
158,108 |
|
Steel Dynamics, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.13%, 10/01/21 |
|
|
USD |
|
|
|
3,085 |
|
|
|
3,144,787 |
|
6.38%, 8/15/22 |
|
|
|
|
|
|
1,345 |
|
|
|
1,412,250 |
|
5.25%, 4/15/23 |
|
|
|
|
|
|
949 |
|
|
|
973,484 |
|
5.50%, 10/01/24 |
|
|
|
|
|
|
295 |
|
|
|
303,172 |
|
Teck Resources Ltd.: |
|
|
|
|
|
|
|
|
|
|
|
|
2.50%, 2/01/18 |
|
|
|
|
|
|
1,704 |
|
|
|
1,716,780 |
|
3.00%, 3/01/19 |
|
|
|
|
|
|
2,073 |
|
|
|
1,984,898 |
|
8.00%, 6/01/21 (e)(f) |
|
|
|
|
|
|
1,473 |
|
|
|
1,502,460 |
|
3.75%, 2/01/23 |
|
|
|
|
|
|
659 |
|
|
|
479,423 |
|
8.50%, 6/01/24 (e)(f) |
|
|
|
|
|
|
1,922 |
|
|
|
1,970,050 |
|
United States Steel Corp., 8.38%, 7/01/21 (e) |
|
|
|
|
|
|
2,224 |
|
|
|
2,296,280 |
|
Wise Metals Group LLC/Wise Alloys Finance Corp., 8.75%, 12/15/18 (e) |
|
|
|
|
|
|
2,990 |
|
|
|
2,743,325 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
84,359,361 |
|
Multiline Retail 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
CST Brands, Inc., 5.00%, 5/01/23 |
|
|
|
|
|
|
653 |
|
|
|
653,000 |
|
Dufry Finance SCA, 5.50%, 10/15/20 (e) |
|
|
|
|
|
|
1,927 |
|
|
|
1,987,161 |
|
Hema Bondco I BV, 6.25%, 6/15/19 |
|
|
EUR |
|
|
|
156 |
|
|
|
134,878 |
|
Neiman Marcus Group Ltd., 8.00%, 10/15/21 (e) |
|
|
USD |
|
|
|
4,467 |
|
|
|
3,372,585 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,147,624 |
|
Offshore Drilling & Other Services 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
Sensata Technologies BV, 5.63%, 11/01/24 (e) |
|
|
|
|
|
|
903 |
|
|
|
945,892 |
|
Oil, Gas & Consumable Fuels 12.8% |
|
|
|
|
|
|
|
|
|
|
|
|
Alberta Energy Co. Ltd., 7.38%, 11/01/31 |
|
|
|
|
|
|
503 |
|
|
|
482,190 |
|
California Resources Corp., 8.00%, 12/15/22 (e) |
|
|
|
|
|
|
7,393 |
|
|
|
5,396,890 |
|
Carrizo Oil & Gas, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.50%, 9/15/20 |
|
|
|
|
|
|
672 |
|
|
|
673,680 |
|
6.25%, 4/15/23 |
|
|
|
|
|
|
2,334 |
|
|
|
2,281,485 |
|
Cenovus Energy, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.70%, 10/15/19 |
|
|
|
|
|
|
312 |
|
|
|
319,217 |
|
3.00%, 8/15/22 |
|
|
|
|
|
|
252 |
|
|
|
224,330 |
|
3.80%, 9/15/23 |
|
|
|
|
|
|
690 |
|
|
|
615,546 |
|
6.75%, 11/15/39 |
|
|
|
|
|
|
1,548 |
|
|
|
1,487,535 |
|
5.20%, 9/15/43 |
|
|
|
|
|
|
110 |
|
|
|
86,999 |
|
Cheniere Corpus Christi Holdings LLC, 7.00%, 6/30/24 (e) |
|
|
|
|
|
|
3,678 |
|
|
|
3,769,950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Oil, Gas & Consumable Fuels (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Chesapeake Energy Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
3.88%, 4/15/19 (d) |
|
|
USD |
|
|
|
2,995 |
|
|
$ |
2,199,453 |
|
6.63%, 8/15/20 |
|
|
|
|
|
|
340 |
|
|
|
222,700 |
|
8.00%, 12/15/22 (e) |
|
|
|
|
|
|
1,417 |
|
|
|
1,140,685 |
|
Concho Resources, Inc., 6.50%, 1/15/22 |
|
|
|
|
|
|
222 |
|
|
|
229,215 |
|
CONSOL Energy, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.88%, 4/15/22 |
|
|
|
|
|
|
10,292 |
|
|
|
8,387,980 |
|
8.00%, 4/01/23 |
|
|
|
|
|
|
331 |
|
|
|
284,660 |
|
Continental Resources, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.00%, 9/15/22 |
|
|
|
|
|
|
1,720 |
|
|
|
1,625,400 |
|
4.50%, 4/15/23 |
|
|
|
|
|
|
1,069 |
|
|
|
973,458 |
|
3.80%, 6/01/24 |
|
|
|
|
|
|
4,375 |
|
|
|
3,817,187 |
|
4.90%, 6/01/44 |
|
|
|
|
|
|
865 |
|
|
|
711,463 |
|
Corral Petroleum Holdings AB, 11.75%, 5/15/21 (g) |
|
|
EUR |
|
|
|
200 |
|
|
|
212,405 |
|
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 6.25%, 4/01/23 (e) |
|
|
USD |
|
|
|
175 |
|
|
|
163,625 |
|
CrownRock LP/CrownRock Finance, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
7.13%, 4/15/21 |
|
|
|
|
|
|
3,208 |
|
|
|
3,320,280 |
|
7.75%, 2/15/23 |
|
|
|
|
|
|
1,064 |
|
|
|
1,109,220 |
|
Denbury Resources, Inc., 9.00%, 5/15/21 (e) |
|
|
|
|
|
|
2,046 |
|
|
|
2,012,752 |
|
Diamondback Energy, Inc., 7.63%, 10/01/21 |
|
|
|
|
|
|
1,770 |
|
|
|
1,878,412 |
|
Encana Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
3.90%, 11/15/21 |
|
|
|
|
|
|
1,015 |
|
|
|
903,350 |
|
6.50%, 8/15/34 |
|
|
|
|
|
|
1,683 |
|
|
|
1,491,020 |
|
6.63%, 8/15/37 |
|
|
|
|
|
|
1,042 |
|
|
|
917,710 |
|
6.50%, 2/01/38 |
|
|
|
|
|
|
3,034 |
|
|
|
2,680,569 |
|
5.15%, 11/15/41 |
|
|
|
|
|
|
1,203 |
|
|
|
884,634 |
|
Energy Transfer Equity LP: |
|
|
|
|
|
|
|
|
|
|
|
|
7.50%, 10/15/20 |
|
|
|
|
|
|
405 |
|
|
|
413,100 |
|
5.88%, 1/15/24 |
|
|
|
|
|
|
4,667 |
|
|
|
4,328,642 |
|
5.50%, 6/01/27 |
|
|
|
|
|
|
1,965 |
|
|
|
1,704,637 |
|
Freeport-McMoRan Oil & Gas LLC/FCX Oil & Gas, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.50%, 11/15/20 |
|
|
|
|
|
|
807 |
|
|
|
774,720 |
|
6.63%, 5/01/21 |
|
|
|
|
|
|
805 |
|
|
|
762,738 |
|
Genesis Energy LP / Genesis Energy Finance Corp., |
|
|
|
|
|
|
|
|
|
|
|
|
6.00%, 5/15/23 |
|
|
|
|
|
|
428 |
|
|
|
393,760 |
|
5.63%, 6/15/24 |
|
|
|
|
|
|
445 |
|
|
|
399,388 |
|
Gulfport Energy Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.75%, 11/01/20 |
|
|
|
|
|
|
2,137 |
|
|
|
2,169,055 |
|
6.63%, 5/01/23 |
|
|
|
|
|
|
114 |
|
|
|
112,005 |
|
Hilcorp Energy I LP/Hilcorp Finance Co. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
7.63%, 4/15/21 |
|
|
|
|
|
|
240 |
|
|
|
247,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Oil, Gas & Consumable Fuels (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Hilcorp Energy I LP/Hilcorp Finance Co. (e) (continued): |
|
|
|
|
|
|
|
|
|
|
|
|
5.00%, 12/01/24 |
|
|
USD |
|
|
|
1,758 |
|
|
$ |
1,670,100 |
|
Marathon Oil Corp., 5.20%, 6/01/45 |
|
|
|
|
|
|
2,025 |
|
|
|
1,700,994 |
|
MEG Energy Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
6.50%, 3/15/21 |
|
|
|
|
|
|
4,781 |
|
|
|
3,765,037 |
|
6.38%, 1/30/23 |
|
|
|
|
|
|
575 |
|
|
|
439,875 |
|
7.00%, 3/31/24 |
|
|
|
|
|
|
4,923 |
|
|
|
3,790,710 |
|
Memorial Production Partners LP/Memorial Production Finance Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.63%, 5/01/21 |
|
|
|
|
|
|
845 |
|
|
|
418,275 |
|
6.88%, 8/01/22 |
|
|
|
|
|
|
1,002 |
|
|
|
470,940 |
|
Memorial Resource Development Corp., 5.88%, 7/01/22 |
|
|
|
|
|
|
5,600 |
|
|
|
5,579,000 |
|
NGPL PipeCo LLC (e): |
|
|
|
|
|
|
|
|
|
|
|
|
7.12%, 12/15/17 |
|
|
|
|
|
|
14,746 |
|
|
|
15,428,002 |
|
9.63%, 6/01/19 |
|
|
|
|
|
|
3,476 |
|
|
|
3,641,110 |
|
7.77%, 12/15/37 |
|
|
|
|
|
|
1,463 |
|
|
|
1,437,398 |
|
Oasis Petroleum, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.25%, 2/01/19 |
|
|
|
|
|
|
205 |
|
|
|
196,288 |
|
6.50%, 11/01/21 |
|
|
|
|
|
|
1,595 |
|
|
|
1,439,487 |
|
6.88%, 3/15/22 |
|
|
|
|
|
|
1,172 |
|
|
|
1,078,240 |
|
6.88%, 1/15/23 |
|
|
|
|
|
|
480 |
|
|
|
433,200 |
|
OHL Investments SA, Series OHL, 4.00%, 4/25/18 (j) |
|
|
EUR |
|
|
|
300 |
|
|
|
297,078 |
|
ONEOK, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.25%, 2/01/22 |
|
|
USD |
|
|
|
450 |
|
|
|
405,000 |
|
7.50%, 9/01/23 |
|
|
|
|
|
|
1,400 |
|
|
|
1,445,570 |
|
Parsley Energy LLC/Parsley Finance Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
7.50%, 2/15/22 |
|
|
|
|
|
|
3,361 |
|
|
|
3,550,056 |
|
6.25%, 6/01/24 |
|
|
|
|
|
|
410 |
|
|
|
417,175 |
|
PDC Energy, Inc., 7.75%, 10/15/22 |
|
|
|
|
|
|
995 |
|
|
|
1,039,775 |
|
QEP Resources, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.88%, 3/01/21 |
|
|
|
|
|
|
240 |
|
|
|
241,200 |
|
5.25%, 5/01/23 |
|
|
|
|
|
|
2,190 |
|
|
|
2,014,800 |
|
Range Resources Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.75%, 6/01/21 |
|
|
|
|
|
|
568 |
|
|
|
552,380 |
|
5.00%, 8/15/22 |
|
|
|
|
|
|
530 |
|
|
|
497,538 |
|
5.00%, 3/15/23 |
|
|
|
|
|
|
1,960 |
|
|
|
1,822,800 |
|
Rockies Express Pipeline LLC (e): |
|
|
|
|
|
|
|
|
|
|
|
|
6.00%, 1/15/19 |
|
|
|
|
|
|
574 |
|
|
|
595,525 |
|
5.63%, 4/15/20 |
|
|
|
|
|
|
265 |
|
|
|
269,638 |
|
6.88%, 4/15/40 |
|
|
|
|
|
|
3,820 |
|
|
|
3,724,500 |
|
RSP Permian, Inc., 6.63%, 10/01/22 |
|
|
|
|
|
|
2,065 |
|
|
|
2,132,112 |
|
Sabine Pass Liquefaction LLC: |
|
|
|
|
|
|
|
|
|
|
|
|
5.63%, 2/01/21 |
|
|
|
|
|
|
2,148 |
|
|
|
2,193,645 |
|
6.25%, 3/15/22 |
|
|
|
|
|
|
301 |
|
|
|
307,773 |
|
5.63%, 4/15/23 |
|
|
|
|
|
|
3,087 |
|
|
|
3,117,870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
13 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Oil, Gas & Consumable Fuels (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Sabine Pass Liquefaction LLC (continued): |
|
|
|
|
|
|
|
|
|
|
|
|
5.75%, 5/15/24 |
|
|
USD |
|
|
|
5,824 |
|
|
$ |
5,853,120 |
|
5.63%, 3/01/25 |
|
|
|
|
|
|
567 |
|
|
|
567,000 |
|
Sanchez Energy Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.75%, 6/15/21 |
|
|
|
|
|
|
138 |
|
|
|
105,570 |
|
6.13%, 1/15/23 |
|
|
|
|
|
|
6,650 |
|
|
|
4,788,000 |
|
Seven Generations Energy Ltd. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
8.25%, 5/15/20 |
|
|
|
|
|
|
6,771 |
|
|
|
7,075,695 |
|
6.75%, 5/01/23 |
|
|
|
|
|
|
675 |
|
|
|
685,125 |
|
SM Energy Co.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.13%, 11/15/22 |
|
|
|
|
|
|
2,576 |
|
|
|
2,357,040 |
|
6.50%, 1/01/23 |
|
|
|
|
|
|
523 |
|
|
|
476,040 |
|
5.00%, 1/15/24 |
|
|
|
|
|
|
88 |
|
|
|
75,250 |
|
Southwestern Energy Co.: |
|
|
|
|
|
|
|
|
|
|
|
|
3.30%, 1/23/18 |
|
|
|
|
|
|
2,009 |
|
|
|
1,938,685 |
|
7.50%, 2/01/18 |
|
|
|
|
|
|
729 |
|
|
|
732,645 |
|
4.10%, 3/15/22 |
|
|
|
|
|
|
175 |
|
|
|
142,625 |
|
Targa Resources Partners LP/Targa Resources Partners Finance Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.88%, 2/01/21 |
|
|
|
|
|
|
393 |
|
|
|
397,913 |
|
6.38%, 8/01/22 |
|
|
|
|
|
|
4,053 |
|
|
|
4,022,602 |
|
5.25%, 5/01/23 |
|
|
|
|
|
|
78 |
|
|
|
73,320 |
|
6.75%, 3/15/24 (e) |
|
|
|
|
|
|
394 |
|
|
|
389,075 |
|
Tesoro Logistics LP/Tesoro Logistics Finance Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.13%, 10/15/21 |
|
|
|
|
|
|
321 |
|
|
|
331,433 |
|
6.25%, 10/15/22 |
|
|
|
|
|
|
3,154 |
|
|
|
3,256,505 |
|
6.38%, 5/01/24 |
|
|
|
|
|
|
849 |
|
|
|
874,470 |
|
Tullow Oil PLC, 6.00%, 11/01/20 (e) |
|
|
|
|
|
|
200 |
|
|
|
160,300 |
|
Weatherford International LLC: |
|
|
|
|
|
|
|
|
|
|
|
|
6.35%, 6/15/17 |
|
|
|
|
|
|
1,290 |
|
|
|
1,302,900 |
|
6.80%, 6/15/37 |
|
|
|
|
|
|
337 |
|
|
|
225,790 |
|
Weatherford International Ltd.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.00%, 3/15/18 |
|
|
|
|
|
|
2,067 |
|
|
|
2,035,995 |
|
5.13%, 9/15/20 |
|
|
|
|
|
|
624 |
|
|
|
505,440 |
|
4.50%, 4/15/22 |
|
|
|
|
|
|
775 |
|
|
|
600,625 |
|
6.50%, 8/01/36 |
|
|
|
|
|
|
520 |
|
|
|
336,700 |
|
7.00%, 3/15/38 |
|
|
|
|
|
|
546 |
|
|
|
365,820 |
|
5.95%, 4/15/42 |
|
|
|
|
|
|
1,066 |
|
|
|
679,575 |
|
Whiting Petroleum Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.00%, 3/15/19 |
|
|
|
|
|
|
193 |
|
|
|
173,700 |
|
1.25%, 4/01/20 (e)(j) |
|
|
|
|
|
|
9,388 |
|
|
|
7,134,880 |
|
5.75%, 3/15/21 |
|
|
|
|
|
|
1,480 |
|
|
|
1,254,300 |
|
6.25%, 4/01/23 |
|
|
|
|
|
|
64 |
|
|
|
52,800 |
|
Williams Cos., Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
3.70%, 1/15/23 |
|
|
|
|
|
|
225 |
|
|
|
189,563 |
|
4.55%, 6/24/24 |
|
|
|
|
|
|
2,459 |
|
|
|
2,145,477 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Oil, Gas & Consumable Fuels (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
WPX Energy, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.25%, 1/15/17 |
|
|
USD |
|
|
|
300 |
|
|
$ |
299,250 |
|
7.50%, 8/01/20 |
|
|
|
|
|
|
385 |
|
|
|
377,300 |
|
6.00%, 1/15/22 |
|
|
|
|
|
|
2,910 |
|
|
|
2,619,000 |
|
8.25%, 8/01/23 |
|
|
|
|
|
|
1,375 |
|
|
|
1,344,063 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
183,868,527 |
|
Paper & Forest Products 0.3% |
|
|
|
|
|
|
|
|
|
|
|
|
Norbord, Inc., 6.25%, 4/15/23 (e) |
|
|
|
|
|
|
1,605 |
|
|
|
1,637,100 |
|
Pfleiderer GmbH, 7.88%, 8/01/19 |
|
|
EUR |
|
|
|
430 |
|
|
|
502,242 |
|
Unifrax I LLC/Unifrax Holding Co., 7.50%, 2/15/19 (e) |
|
|
USD |
|
|
|
2,865 |
|
|
|
2,292,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,431,342 |
|
Pharmaceuticals 3.2% |
|
|
|
|
|
|
|
|
|
|
|
|
Concordia Healthcare Corp., 7.00%, 4/15/23 (e) |
|
|
|
|
|
|
504 |
|
|
|
468,090 |
|
DPx Holdings BV, 7.50%, 2/01/22 (e) |
|
|
|
|
|
|
2,670 |
|
|
|
2,736,750 |
|
Endo Finance LLC/Endo Finco, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
7.75%, 1/15/22 |
|
|
|
|
|
|
696 |
|
|
|
645,540 |
|
6.00%, 7/15/23 |
|
|
|
|
|
|
2,069 |
|
|
|
1,811,223 |
|
6.00%, 2/01/25 |
|
|
|
|
|
|
3,305 |
|
|
|
2,867,088 |
|
Ephios Bondco PLC, 6.25%, 7/01/22 |
|
|
EUR |
|
|
|
885 |
|
|
|
1,036,392 |
|
Ephios Holdco II PLC, 8.25%, 7/01/23 |
|
|
|
|
|
|
259 |
|
|
|
294,660 |
|
Grifols Worldwide Operations Ltd., 5.25%, 4/01/22 |
|
|
USD |
|
|
|
4,047 |
|
|
|
4,138,058 |
|
Jaguar Holding Co. II/Pharmaceutical Product Development LLC, 6.38%, 8/01/23 (e) |
|
|
|
|
|
|
7,115 |
|
|
|
7,264,415 |
|
NBTY, Inc., 7.63%, 5/15/21 (e) |
|
|
|
|
|
|
3,353 |
|
|
|
3,420,060 |
|
Valeant Pharmaceuticals International, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.75%, 8/15/18 (e) |
|
|
|
|
|
|
813 |
|
|
|
794,708 |
|
5.38%, 3/15/20 (e) |
|
|
|
|
|
|
890 |
|
|
|
785,425 |
|
7.00%, 10/01/20 (e) |
|
|
|
|
|
|
5,123 |
|
|
|
4,623,507 |
|
6.38%, 10/15/20 (e) |
|
|
|
|
|
|
7,053 |
|
|
|
6,277,170 |
|
7.50%, 7/15/21 (e) |
|
|
|
|
|
|
2,110 |
|
|
|
1,909,550 |
|
6.75%, 8/15/21 (e) |
|
|
|
|
|
|
2,793 |
|
|
|
2,457,840 |
|
5.50%, 3/01/23 (e) |
|
|
|
|
|
|
77 |
|
|
|
63,910 |
|
4.50%, 5/15/23 |
|
|
EUR |
|
|
|
1,484 |
|
|
|
1,267,275 |
|
5.88%, 5/15/23 (e) |
|
|
USD |
|
|
|
1,617 |
|
|
|
1,362,323 |
|
6.13%, 4/15/25 (e) |
|
|
|
|
|
|
2,109 |
|
|
|
1,763,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
45,987,635 |
|
Real Estate Investment Trusts (REITs) 0.6% |
|
|
|
|
|
|
|
|
|
|
|
|
Aroundtown Property Holdings PLC, 3.00%, 12/09/21 |
|
|
EUR |
|
|
|
1,100 |
|
|
|
1,248,883 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Real Estate Investment Trusts (REITs) (continued) |
|
Corrections Corp. of America, 4.63%, 5/01/23 |
|
|
USD |
|
|
|
755 |
|
|
$ |
766,325 |
|
FelCor Lodging LP, 6.00%, 6/01/25 |
|
|
|
|
|
|
591 |
|
|
|
610,208 |
|
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 5.63%, 10/15/21 |
|
|
|
|
|
|
4,911 |
|
|
|
5,085,871 |
|
iStar Financial, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.00%, 11/01/17 |
|
|
|
|
|
|
685 |
|
|
|
682,397 |
|
5.00%, 7/01/19 |
|
|
|
|
|
|
480 |
|
|
|
456,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,849,684 |
|
Real Estate Management & Development 1.2% |
|
|
|
|
|
|
|
|
|
|
|
|
Annington Finance No 5 PLC, 13.00%, 1/15/23 (g) |
|
|
GBP |
|
|
|
380 |
|
|
|
632,929 |
|
Crescent Resources LLC/Crescent Ventures, Inc., 10.25%, 8/15/17 (e) |
|
|
USD |
|
|
|
1,731 |
|
|
|
1,735,327 |
|
Punch Taverns Finance B Ltd., Series A6, 5.94%, 9/30/22 |
|
|
GBP |
|
|
|
532 |
|
|
|
714,211 |
|
Punch Taverns Finance PLC, Series M3, 6.09%, 10/15/27 (d)(e) |
|
|
|
|
|
|
1,202 |
|
|
|
1,475,942 |
|
Realogy Group LLC/Realogy Co-Issuer Corp. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
4.50%, 4/15/19 |
|
|
USD |
|
|
|
1,646 |
|
|
|
1,695,380 |
|
5.25%, 12/01/21 |
|
|
|
|
|
|
6,327 |
|
|
|
6,548,445 |
|
4.88%, 6/01/23 |
|
|
|
|
|
|
2,420 |
|
|
|
2,398,825 |
|
Rialto Holdings LLC/Rialto Corp., 7.00%, 12/01/18 (e) |
|
|
|
|
|
|
1,065 |
|
|
|
1,051,687 |
|
Tesco Property Finance 1 PLC, 7.62%, 7/13/39 |
|
|
GBP |
|
|
|
46 |
|
|
|
73,839 |
|
Tesco Property Finance 4 PLC, 5.80%, 10/13/40 |
|
|
|
|
|
|
99 |
|
|
|
129,142 |
|
Woodside Homes Co. LLC/Woodside Homes Finance, Inc., 6.75%, 12/15/21 (e) |
|
|
USD |
|
|
|
1,195 |
|
|
|
1,111,350 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,567,077 |
|
Road & Rail 1.3% |
|
|
|
|
|
|
|
|
|
|
|
|
Avis Budget Car Rental LLC/Avis Budget Finance, Inc. (e): |
|
|
|
|
|
|
|
|
|
|
|
|
5.13%, 6/01/22 |
|
|
|
|
|
|
770 |
|
|
|
708,400 |
|
6.38%, 4/01/24 |
|
|
|
|
|
|
1,105 |
|
|
|
1,060,800 |
|
5.25%, 3/15/25 |
|
|
|
|
|
|
1,810 |
|
|
|
1,588,275 |
|
EC Finance PLC, 5.13%, 7/15/21 |
|
|
EUR |
|
|
|
675 |
|
|
|
791,415 |
|
Florida East Coast Holdings Corp., 6.75%, 5/01/19 (e) |
|
|
USD |
|
|
|
2,037 |
|
|
|
2,026,815 |
|
Herc Spinoff Escrow Issuer LLC/Herc Spinoff Escrow Issuer Corp. (e)(f): |
|
|
|
|
|
|
|
|
|
|
|
|
7.50%, 6/01/22 |
|
|
|
|
|
|
853 |
|
|
|
857,265 |
|
7.75%, 6/01/24 |
|
|
|
|
|
|
383 |
|
|
|
383,958 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
|
|
Par
(000) |
|
|
Value |
|
Road & Rail (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Hertz Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.50%, 10/15/18 |
|
|
USD |
|
|
|
3,220 |
|
|
$ |
3,270,554 |
|
5.88%, 10/15/20 |
|
|
|
|
|
|
370 |
|
|
|
375,088 |
|
7.38%, 1/15/21 |
|
|
|
|
|
|
2,360 |
|
|
|
2,410,150 |
|
6.25%, 10/15/22 |
|
|
|
|
|
|
1,490 |
|
|
|
1,480,687 |
|
Loxam SAS, 3.50%, 5/03/23 |
|
|
EUR |
|
|
|
150 |
|
|
|
168,750 |
|
United Rentals North America, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
4.63%, 7/15/23 |
|
|
USD |
|
|
|
1,055 |
|
|
|
1,047,087 |
|
5.50%, 7/15/25 |
|
|
|
|
|
|
902 |
|
|
|
885,087 |
|
Watco Cos. LLC/Watco Finance Corp., 6.38%, 4/01/23 (e) |
|
|
|
|
|
|
1,093 |
|
|
|
1,087,535 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18,141,866 |
|
Semiconductors & Semiconductor Equipment 0.8% |
|
Advanced Micro Devices, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.50%, 8/15/22 |
|
|
|
|
|
|
665 |
|
|
|
548,625 |
|
7.00%, 7/01/24 |
|
|
|
|
|
|
440 |
|
|
|
347,600 |
|
NXP BV / NXP Funding LLC (e): |
|
|
|
|
|
|
|
|
|
|
|
|
4.13%, 6/15/20 |
|
|
|
|
|
|
2,685 |
|
|
|
2,738,700 |
|
4.63%, 6/15/22 |
|
|
|
|
|
|
1,319 |
|
|
|
1,338,785 |
|
5.75%, 3/15/23 |
|
|
|
|
|
|
2,180 |
|
|
|
2,283,550 |
|
4.63%, 6/01/23 |
|
|
|
|
|
|
777 |
|
|
|
780,893 |
|
Sensata Technologies BV, 5.00%, 10/01/25 (e) |
|
|
|
|
|
|
3,923 |
|
|
|
3,932,807 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,970,960 |
|
Software 1.4% |
|
|
|
|
|
|
|
|
|
|
|
|
Ensemble S Merger Sub, Inc., 9.00%, 9/30/23 (e) |
|
|
|
|
|
|
1,553 |
|
|
|
1,554,941 |
|
Infinity Acquisition LLC/Infinity Acquisition Finance Corp., 7.25%, 8/01/22 (e) |
|
|
|
|
|
|
103 |
|
|
|
90,125 |
|
Infor Software Parent LLC/Infor Software Parent, Inc., (7.13% Cash or 7.88% PIK), 7.13%, 5/01/21 (e)(g) |
|
|
|
|
|
|
2,646 |
|
|
|
2,209,119 |
|
Infor US, Inc., 6.50%, 5/15/22 |
|
|
|
|
|
|
4,033 |
|
|
|
3,700,277 |
|
Informatica LLC, 7.13%, 7/15/23 (e) |
|
|
|
|
|
|
946 |
|
|
|
901,065 |
|
Nuance Communications, Inc., 5.38%, 8/15/20 (e) |
|
|
|
|
|
|
2,430 |
|
|
|
2,469,488 |
|
PTC, Inc., 6.00%, 5/15/24 |
|
|
|
|
|
|
722 |
|
|
|
751,783 |
|
Solera LLC/Solera Finance, Inc., 10.50%, 3/01/24 (e) |
|
|
|
|
|
|
5,797 |
|
|
|
6,289,745 |
|
SS&C Technologies Holdings, Inc., 5.88%, 7/15/23 |
|
|
|
|
|
|
1,619 |
|
|
|
1,683,760 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,650,303 |
|
Specialty Retail 1.4% |
|
|
|
|
|
|
|
|
|
|
|
|
Asbury Automotive Group, Inc., 6.00%, 12/15/24 |
|
|
|
|
|
|
2,413 |
|
|
|
2,461,260 |
|
L Brands, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
8.50%, 6/15/19 |
|
|
|
|
|
|
3,925 |
|
|
|
4,562,813 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
15 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
Par
(000) |
|
|
Value |
|
Specialty Retail (continued) |
|
L Brands, Inc. (continued): |
|
|
|
|
|
|
|
|
|
|
|
|
6.88%, 11/01/35 |
|
|
USD |
|
|
|
2,574 |
|
|
$ |
2,715,570 |
|
New Look Secured Issuer PLC, 6.50%, 7/01/22 |
|
|
GBP |
|
|
|
770 |
|
|
|
1,096,047 |
|
New Look Senior Issuer PLC, 8.00%, 7/01/23 |
|
|
|
|
|
|
300 |
|
|
|
419,297 |
|
Penske Automotive Group, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.75%, 10/01/22 |
|
|
USD |
|
|
|
2,545 |
|
|
|
2,608,625 |
|
5.38%, 12/01/24 |
|
|
|
|
|
|
1,447 |
|
|
|
1,447,000 |
|
5.50%, 5/15/26 |
|
|
|
|
|
|
1,358 |
|
|
|
1,347,815 |
|
Sally Holdings LLC/Sally Capital, Inc., 5.75%, 6/01/22 |
|
|
|
|
|
|
1,599 |
|
|
|
1,662,960 |
|
THOM Europe SAS, 7.38%, 7/15/19 |
|
|
EUR |
|
|
|
1,090 |
|
|
|
1,287,072 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,608,459 |
|
Technology Hardware, Storage & Peripherals 0.5% |
|
Diamond 1 Finance Corp./Diamond 2 Finance Corp. (e)(f): |
|
|
|
|
|
|
|
|
|
|
|
|
4.42%, 6/15/21 |
|
|
USD |
|
|
|
1,565 |
|
|
|
1,596,250 |
|
6.02%, 6/15/26 |
|
|
|
|
|
|
2,940 |
|
|
|
2,971,999 |
|
8.35%, 7/15/46 |
|
|
|
|
|
|
945 |
|
|
|
961,992 |
|
Western Digital Corp., 7.38%, 4/01/23 (e) |
|
|
|
|
|
|
1,339 |
|
|
|
1,392,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,922,801 |
|
Textiles, Apparel & Luxury Goods 0.3% |
|
BiSoho SAS, 5.88%, 5/01/23 |
|
|
EUR |
|
|
|
400 |
|
|
|
457,365 |
|
Levi Strauss & Co.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.88%, 5/01/22 |
|
|
USD |
|
|
|
2,430 |
|
|
|
2,593,004 |
|
5.00%, 5/01/25 |
|
|
|
|
|
|
686 |
|
|
|
686,858 |
|
Springs Industries, Inc., 6.25%, 6/01/21 |
|
|
|
|
|
|
274 |
|
|
|
277,425 |
|
William Carter Co., 5.25%, 8/15/21 |
|
|
|
|
|
|
788 |
|
|
|
815,580 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,830,232 |
|
Thrifts & Mortgage Finance 0.1% |
|
Radian Group, Inc., 5.25%, 6/15/20 |
|
|
|
|
|
|
991 |
|
|
|
1,010,820 |
|
Trading Companies & Distributors 0.1% |
|
Ashtead Capital, Inc., 5.63%, 10/01/24 (e) |
|
|
|
|
|
|
344 |
|
|
|
347,440 |
|
Travis Perkins PLC, 4.50%, 9/07/23 |
|
|
GBP |
|
|
|
500 |
|
|
|
718,922 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,066,362 |
|
Transportation Infrastructure 0.2% |
|
JCH Parent, Inc., (10.50% Cash or 11.25% PIK), 10.50%, 3/15/19 (e)(g) |
|
|
USD |
|
|
|
2,813 |
|
|
|
1,209,703 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds |
|
|
Par
(000) |
|
|
Value |
|
Transportation Infrastructure (continued) |
|
Onorato Armatori SpA, 7.75%, 2/15/23 |
|
|
EUR |
|
|
|
900 |
|
|
$ |
981,358 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,191,061 |
|
Wireless Telecommunication Services 4.6% |
|
Communications Sales & Leasing, Inc./CSL Capital LLC, 8.25%, 10/15/23 |
|
|
USD |
|
|
|
2,515 |
|
|
|
2,370,388 |
|
Digicel Group Ltd., 7.13%, 4/01/22 (e) |
|
|
|
|
|
|
2,085 |
|
|
|
1,608,161 |
|
Digicel Ltd., 6.00%, 4/15/21 (e) |
|
|
|
|
|
|
8,447 |
|
|
|
7,483,028 |
|
Geo Group, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
5.88%, 1/15/22 |
|
|
|
|
|
|
350 |
|
|
|
355,250 |
|
5.88%, 10/15/24 |
|
|
|
|
|
|
2,030 |
|
|
|
2,052,838 |
|
GEO Group, Inc., 6.00%, 4/15/26 |
|
|
|
|
|
|
530 |
|
|
|
535,300 |
|
SBA Communications Corp., 5.63%, 10/01/19 |
|
|
|
|
|
|
1,111 |
|
|
|
1,151,274 |
|
Sprint Capital Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.90%, 5/01/19 |
|
|
|
|
|
|
640 |
|
|
|
596,800 |
|
6.88%, 11/15/28 |
|
|
|
|
|
|
4,955 |
|
|
|
3,697,669 |
|
8.75%, 3/15/32 |
|
|
|
|
|
|
408 |
|
|
|
330,480 |
|
Sprint Communications, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
9.00%, 11/15/18 (e) |
|
|
|
|
|
|
17,517 |
|
|
|
18,633,709 |
|
7.00%, 8/15/20 |
|
|
|
|
|
|
1,270 |
|
|
|
1,086,510 |
|
Sprint Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
7.25%, 9/15/21 |
|
|
|
|
|
|
922 |
|
|
|
746,820 |
|
7.13%, 6/15/24 |
|
|
|
|
|
|
6,082 |
|
|
|
4,576,705 |
|
7.63%, 2/15/25 |
|
|
|
|
|
|
1,840 |
|
|
|
1,384,030 |
|
T-Mobile USA, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
6.63%, 4/28/21 |
|
|
|
|
|
|
2,180 |
|
|
|
2,291,725 |
|
6.13%, 1/15/22 |
|
|
|
|
|
|
367 |
|
|
|
387,185 |
|
6.73%, 4/28/22 |
|
|
|
|
|
|
1,227 |
|
|
|
1,286,816 |
|
6.00%, 3/01/23 |
|
|
|
|
|
|
2,599 |
|
|
|
2,709,457 |
|
6.50%, 1/15/24 |
|
|
|
|
|
|
2,638 |
|
|
|
2,799,577 |
|
6.38%, 3/01/25 |
|
|
|
|
|
|
3,490 |
|
|
|
3,655,775 |
|
6.50%, 1/15/26 |
|
|
|
|
|
|
4,881 |
|
|
|
5,161,657 |
|
Wind Acquisition Finance SA, 4.00%, 7/15/20 |
|
|
EUR |
|
|
|
824 |
|
|
|
911,094 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
65,812,248 |
|
Total Corporate Bonds 109.6% |
|
|
|
1,569,600,591 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests (d) |
|
|
|
|
|
|
|
|
|
Air Freight & Logistics 0.3% |
|
CEVA Group PLC, Synthetic LC, 6.50%, 3/19/21 |
|
|
USD |
|
|
|
1,324 |
|
|
|
1,127,761 |
|
CEVA Intercompany BV, Dutch Term Loan, 6.50%, 3/19/21 |
|
|
|
|
|
|
1,368 |
|
|
|
1,165,490 |
|
CEVA Logistics Canada ULC, Canadian Term Loan, 6.50%, 3/19/21 |
|
|
|
|
|
|
236 |
|
|
|
200,947 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests |
|
|
|
|
Par
(000) |
|
|
Value |
|
Air Freight & Logistics (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
CEVA Logistics US Holdings, Inc., Term Loan, 6.50%, 3/19/21 |
|
|
USD |
|
|
|
1,887 |
|
|
$ |
1,607,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,101,771 |
|
Airlines 0.8% |
|
|
|
|
|
|
|
|
|
|
|
|
Delta Air Lines, Inc., 2018 Term Loan B1, 3.25%, 10/18/18 |
|
|
|
|
|
|
2,313 |
|
|
|
2,318,715 |
|
Gol LuxCo SA, 1st Lien Term Loan, 6.50%, 8/31/20 |
|
|
|
|
|
|
3,885 |
|
|
|
3,865,575 |
|
Northwest Airlines, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
2.75%, 3/10/17 |
|
|
|
|
|
|
1,772 |
|
|
|
1,754,060 |
|
2.13%, 9/10/18 |
|
|
|
|
|
|
4,060 |
|
|
|
3,947,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,885,890 |
|
Auto Components 0.3% |
|
|
|
|
|
|
|
|
|
|
|
|
Gates Global, Inc., Term Loan B, 4.25%, 7/06/21 |
|
|
|
|
|
|
4,997 |
|
|
|
4,829,728 |
|
Capital Markets 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
American Capital Holdings, Inc., 2017 Term Loan, 3.50%, 8/22/17 |
|
|
|
|
|
|
2,953 |
|
|
|
2,947,707 |
|
Chemicals 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
Axalta Coating Systems US Holdings, Inc., Term Loan, 3.75%, 2/01/20 |
|
|
|
|
|
|
212 |
|
|
|
212,075 |
|
MacDermid, Inc., Term Loan B3, 5.50%, 6/07/20 |
|
|
|
|
|
|
1,151 |
|
|
|
1,147,853 |
|
PQ Corp., Term Loan, 5.75%, 11/04/22 |
|
|
|
|
|
|
1,298 |
|
|
|
1,308,462 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,668,390 |
|
Commercial Services & Supplies 0.3% |
|
|
|
|
|
|
|
|
|
|
|
|
Brand Energy & Infrastructure Services, Inc., Term Loan B, 4.75%, 11/26/20 |
|
|
|
|
|
|
3,760 |
|
|
|
3,653,791 |
|
TruGreen Limited Partnership, 1st Lien Term Loan B, 6.50%, 4/13/23 |
|
|
|
|
|
|
699 |
|
|
|
703,369 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,357,160 |
|
Diversified Consumer Services 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
AssuredPartners, Inc., 2015 1st Lien Term Loan, 5.75%, 10/21/22 |
|
|
|
|
|
|
1,229 |
|
|
|
1,228,920 |
|
Laureate Education, Inc., Term Loan B, 5.00%, 6/15/18 |
|
|
|
|
|
|
1,761 |
|
|
|
1,707,126 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,936,046 |
|
Diversified Telecommunication Services 0.3% |
|
|
|
|
|
|
|
|
|
|
|
|
Hawaiian Telcom Communications, Inc., Term Loan B, 5.25%, 6/06/19 |
|
|
|
|
|
|
1,410 |
|
|
|
1,407,487 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests |
|
|
Par
(000) |
|
|
Value |
|
Diversified Telecommunication Services (continued) |
|
Level 3 Financing, Inc., 2019 Term Loan, 4.00%, 8/01/19 |
|
|
USD |
|
|
|
1,785 |
|
|
$ |
1,788,909 |
|
Telenet International Finance Sarl, Term Loan AD, 4.25%, 6/30/24 |
|
|
|
|
|
|
1,285 |
|
|
|
1,291,065 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,487,461 |
|
Electrical Equipment 0.4% |
|
Texas Competitive Electric Holdings Co. LLC, DIP Term Loan, 3.75%, 11/07/16 |
|
|
|
|
|
|
5,613 |
|
|
|
5,612,525 |
|
Energy Equipment & Services 0.1% |
|
Dynegy Holdings, Inc., Term Loan B2, 4.00%, 4/23/20 |
|
|
|
|
|
|
918 |
|
|
|
917,516 |
|
Food & Staples Retailing 0.2% |
|
US Foods, Inc., Refinancing Term Loan, 4.50%, 3/31/19 |
|
|
|
|
|
|
2,351 |
|
|
|
2,351,499 |
|
Health Care Equipment & Supplies 0.4% |
|
Alere, Inc., 2015 Term Loan B, 4.25%, 6/18/22 |
|
|
|
|
|
|
744 |
|
|
|
741,417 |
|
Capsugel Holdings US, Inc., Term Loan B, 4.00%, 7/31/21 |
|
|
|
|
|
|
1,906 |
|
|
|
1,905,077 |
|
DJO Finance LLC, 2015 Term Loan, 4.25%, 6/08/20 |
|
|
|
|
|
|
1,310 |
|
|
|
1,282,441 |
|
Immucor, Inc., Refinancing Term Loan B2, 5.00%, 8/17/18 |
|
|
|
|
|
|
1,292 |
|
|
|
1,226,279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,155,214 |
|
Health Care Providers & Services 0.4% |
|
Air Medical Group Holdings, Inc., Term Loan B, 4.25%, 4/28/22 |
|
|
|
|
|
|
1,657 |
|
|
|
1,639,342 |
|
MPH Acquisition Holdings LLC, 2016 Term Loan B, 5.00%, 5/26/23 |
|
|
|
|
|
|
2,255 |
|
|
|
2,270,785 |
|
Surgery Center Holdings, Inc., 1st Lien Term Loan, 5.25%, 11/03/20 |
|
|
|
|
|
|
954 |
|
|
|
955,851 |
|
Vizient, Inc., 1st Lien Term Loan, 6.25%, 2/13/23 |
|
|
|
|
|
|
1,423 |
|
|
|
1,439,905 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,305,883 |
|
Hotels, Restaurants & Leisure 1.5% |
|
Amaya Holdings BV: |
|
|
|
|
|
|
|
|
|
|
|
|
1st Lien Term Loan, 5.00%, 8/01/21 |
|
|
|
|
|
|
4,746 |
|
|
|
4,593,590 |
|
2nd Lien Term Loan, 8.00%, 8/01/22 |
|
|
|
|
|
|
248 |
|
|
|
242,848 |
|
Boyd Gaming Corp., Term Loan B, 4.00%, 8/14/20 |
|
|
|
|
|
|
1,953 |
|
|
|
1,956,164 |
|
Bronco Midstream Funding LLC, Term Loan B, 5.00%, 8/15/20 |
|
|
|
|
|
|
5,405 |
|
|
|
4,810,139 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
17 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests |
|
|
|
|
Par (000) |
|
|
Value |
|
Hotels, Restaurants & Leisure (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
Caesars Entertainment Resort Properties LLC, Term Loan B, 7.00%, 10/11/20 |
|
|
USD |
|
|
|
9,048 |
|
|
$ |
8,650,021 |
|
Station Casinos LLC, Term Loan B, 4.25%, 3/02/20 |
|
|
|
|
|
|
1,809 |
|
|
|
1,811,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,063,833 |
|
Independent Power and Renewable Electricity Producers 0.4% |
|
Energy Future Intermediate Holding Co. LLC, DIP Term Loan, 4.25%, 12/19/16 |
|
|
|
|
|
|
5,103 |
|
|
|
5,099,723 |
|
IT Services 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
Blue Coat Holdings, Inc., 2015 Term Loan, 4.50%, 5/20/22 |
|
|
|
|
|
|
552 |
|
|
|
549,983 |
|
First Data Corp.: |
|
|
|
|
|
|
|
|
|
|
|
|
2018 Term Loan, 3.94%, 9/24/18 |
|
|
|
|
|
|
200 |
|
|
|
199,916 |
|
2021 Extended Term Loan, 4.44%, 3/24/21 |
|
|
|
|
|
|
4,484 |
|
|
|
4,502,740 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,252,639 |
|
Machinery 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
Rexnord LLC, 1st Lien Term Loan B, 4.00%, 8/21/20 |
|
|
|
|
|
|
2,843 |
|
|
|
2,825,782 |
|
Silver II US Holdings LLC, Term Loan, 4.00%, 12/13/19 |
|
|
|
|
|
|
3,923 |
|
|
|
3,533,998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,359,780 |
|
Media 1.0% |
|
|
|
|
|
|
|
|
|
|
|
|
Cengage Learning Acquisitions, Inc., Term Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
1st Lien, 7.00%, 3/31/20 |
|
|
|
|
|
|
3,998 |
|
|
|
3,991,946 |
|
2016 B, 5.25%, 5/17/23 |
|
|
|
|
|
|
2,002 |
|
|
|
1,999,320 |
|
0.00%, 7/03/16 (a)(h) |
|
|
|
|
|
|
10,469 |
|
|
|
1 |
|
Clear Channel Communications, Inc., Term Loan D, 7.20%, 1/30/19 |
|
|
|
|
|
|
6,379 |
|
|
|
4,884,252 |
|
Intelsat Jackson Holdings SA, Term Loan B2, 3.75%, 6/30/19 |
|
|
|
|
|
|
1,171 |
|
|
|
1,076,742 |
|
Tribune Media Co., Term Loan, 3.75%, 12/27/20 |
|
|
|
|
|
|
224 |
|
|
|
224,069 |
|
Univision Communications Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
Term Loan C3, 4.00%, 3/01/20 |
|
|
|
|
|
|
25 |
|
|
|
24,902 |
|
Term Loan C4, 4.00%, 3/01/20 |
|
|
|
|
|
|
1,819 |
|
|
|
1,818,269 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,019,501 |
|
Metals & Mining 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
FMG Resources August 2006 Property Ltd., Term Loan B, 4.25%, 6/30/19 |
|
|
|
|
|
|
3,769 |
|
|
|
3,529,351 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests |
|
|
Par (000) |
|
|
Value |
|
Metals & Mining (continued) |
|
Novelis, Inc., 2015 Term Loan B, 4.00%, 6/02/22 |
|
|
USD |
|
|
|
1,567 |
|
|
$ |
1,561,977 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,091,328 |
|
Oil, Gas & Consumable Fuels 0.3% |
|
California Resources Corp., Term Loan A, 2.00%, 10/01/19 |
|
|
|
|
|
|
814 |
|
|
|
745,828 |
|
CITGO Holding, Inc., 2015 Term Loan B, 9.50%, 5/12/18 |
|
|
|
|
|
|
2,522 |
|
|
|
2,532,184 |
|
MEG Energy Corp., Refinancing Term Loan, 3.75%, 3/31/20 |
|
|
|
|
|
|
465 |
|
|
|
414,265 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,692,277 |
|
Personal Products 0.1% |
|
NBTY, Inc., Term Loan B, 5.00%, 5/05/23 |
|
|
|
|
|
|
1,145 |
|
|
|
1,151,297 |
|
Pharmaceuticals 0.8% |
|
DPx Holdings BV, 2014 Incremental Term Loan, 4.25%, 3/11/21 |
|
|
|
|
|
|
1,685 |
|
|
|
1,656,522 |
|
Jaguar Holding Co. II, 2015 Term Loan B, 4.25%, 8/18/22 |
|
|
|
|
|
|
4,808 |
|
|
|
4,811,974 |
|
Pharmaceutical Product Development LLC, 1st Lien Term Loan, 4.25%, 8/18/22 |
|
|
|
|
|
|
482 |
|
|
|
482,400 |
|
Valeant Pharmaceuticals International, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
Series A3 Tranche A, 3.71%, 10/20/18 |
|
|
|
|
|
|
584 |
|
|
|
576,072 |
|
Series C2 Term Loan B, 4.75%, 12/11/19 |
|
|
|
|
|
|
695 |
|
|
|
685,442 |
|
Series E Term Loan B, 4.75%, 8/05/20 |
|
|
|
|
|
|
1,554 |
|
|
|
1,529,458 |
|
Series F1 Term Loan B, 5.00%, 4/01/22 |
|
|
|
|
|
|
936 |
|
|
|
923,994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,665,862 |
|
Professional Services 0.3% |
|
Advantage Sales & Marketing, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
2014 1st Lien Term Loan, 4.25%, 7/23/21 |
|
|
|
|
|
|
1,674 |
|
|
|
1,667,182 |
|
2014 2nd Lien Term Loan, 7.50%, 7/25/22 |
|
|
|
|
|
|
3,248 |
|
|
|
3,093,706 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,760,888 |
|
Real Estate Investment Trusts (REITs) 0.1% |
|
MGM Growth Properties LLC, 2016 Term Loan B, 4.00%, 4/25/23 |
|
|
|
|
|
|
2,004 |
|
|
|
2,016,567 |
|
Real Estate Management & Development 0.0% |
|
Realogy Corp., Extended Letter of Credit, 2.43%, 10/16/16 |
|
|
|
|
|
|
226 |
|
|
|
223,046 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Loan Interests |
|
|
Par (000) |
|
|
Value |
|
Road & Rail 0.2% |
|
Hertz Corp., Term Loan B2, 3.00%, 3/11/18 |
|
|
USD |
|
|
|
3,326 |
|
|
$ |
3,317,085 |
|
Semiconductors & Semiconductor Equipment 0.9% |
|
Avago Technologies Cayman Ltd., 2016 Term Loan B1, 4.25%, 2/01/23 |
|
|
|
|
|
|
10,717 |
|
|
|
10,742,353 |
|
Microsemi Corp., 2015 Term Loan B, 5.25%, 1/15/23 |
|
|
|
|
|
|
495 |
|
|
|
499,678 |
|
ON Semiconductor Corp., Term Loan B, 5.25%, 3/31/23 |
|
|
|
|
|
|
1,641 |
|
|
|
1,651,601 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,893,632 |
|
Software 0.8% |
|
Infor US, Inc., Term Loan B5, 3.75%, 6/03/20 |
|
|
|
|
|
|
2,672 |
|
|
|
2,617,123 |
|
Informatica Corp., Term Loan, 4.50%, 8/05/22 |
|
|
|
|
|
|
3,018 |
|
|
|
2,980,746 |
|
Kronos, Inc., 2nd Lien Term Loan, 9.75%, 4/30/20 |
|
|
|
|
|
|
3,444 |
|
|
|
3,512,523 |
|
Solera Holdings, Inc., Term Loan B, 5.75%, 3/03/23 |
|
|
|
|
|
|
2,736 |
|
|
|
2,750,829 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,861,221 |
|
Specialty Retail 0.1% |
|
Party City Holdings, Inc., 2015 Term Loan B, 4.25%, 8/19/22 |
|
|
|
|
|
|
1,536 |
|
|
|
1,531,401 |
|
Textiles, Apparel & Luxury Goods 0.4% |
|
Ascend Performance Materials LLC, Term Loan B, 6.75%, 4/10/18 |
|
|
|
|
|
|
5,362 |
|
|
|
5,281,757 |
|
J. Crew Group, Inc., Term Loan B, 4.00%, 3/05/21 |
|
|
|
|
|
|
893 |
|
|
|
662,347 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,944,104 |
|
Wireless Telecommunication Services 1.6% |
|
Ligardo Networks LLC, 2015 2nd Lien Term Loan, 13.50%, 12/07/20 |
|
|
|
|
|
|
33,473 |
|
|
|
23,542,305 |
|
Total Floating Rate Loan Interests 13.8% |
|
|
|
198,043,279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Companies 0.9% |
|
United States 0.9% |
|
SPDR Barclays High Yield Bond ETF |
|
|
|
|
|
|
364,700 |
|
|
|
12,848,381 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Agency Mortgage-Backed Securities |
|
|
Par (000) |
|
|
Value |
|
Collateralized Mortgage Obligations 0.2% |
|
Hilton USA Trust, Series 2013-HLT, Class EFX, 4.45%, 11/05/30 (d)(e) |
|
|
USD |
|
|
|
2,882 |
|
|
$ |
2,888,344 |
|
Commercial Mortgage-Backed Securities 0.1% |
|
GAHR Commercial Mortgage Trust 2015-NRF, Series 2015-NRF, Class FFX, 3.38%, 12/15/19
(d)(e) |
|
|
|
|
|
|
1,925 |
|
|
|
1,768,892 |
|
Total Non-Agency Mortgage-Backed Securities 0.3% |
|
|
|
4,657,236 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Interests 0.0% |
|
|
Beneficial Interest (000) |
|
|
|
|
Auto Components 0.0% |
|
Lear Corp. Escrow, 0.00% |
|
|
|
|
|
|
1,250 |
|
|
|
13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred Securities |
|
|
Par (000) |
|
|
|
|
Capital Trusts |
|
|
|
|
|
|
|
Banks 2.9% |
|
ABN AMRO Bank NV, 5.75% (d)(k) |
|
|
|
|
|
|
700 |
|
|
|
751,689 |
|
Banco Bilbao Vizcaya Argentaria SA,: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
6.75% |
|
|
|
|
|
|
400 |
|
|
|
409,455 |
|
7.00% |
|
|
|
|
|
|
1,000 |
|
|
|
1,032,784 |
|
8.88% |
|
|
|
|
|
|
200 |
|
|
|
229,763 |
|
Banco Popular Espanol SA, 8.25% (d)(k) |
|
|
|
|
|
|
800 |
|
|
|
780,635 |
|
Bank of Ireland, 7.38% (d)(k) |
|
|
|
|
|
|
250 |
|
|
|
272,391 |
|
BNP Paribas SA, 7.38% (d)(e)(k) |
|
|
|
|
|
|
725 |
|
|
|
723,188 |
|
Citigroup, Inc.: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
5.88% |
|
|
|
|
|
|
2,405 |
|
|
|
2,338,863 |
|
5.95% |
|
|
|
|
|
|
2,675 |
|
|
|
2,677,506 |
|
Series D, 5.95% |
|
|
|
|
|
|
3,582 |
|
|
|
3,537,225 |
|
Series Q, 5.95% |
|
|
|
|
|
|
1,165 |
|
|
|
1,137,331 |
|
Series R, 6.13% |
|
|
|
|
|
|
615 |
|
|
|
626,531 |
|
Series T, 6.25% |
|
|
|
|
|
|
1,510 |
|
|
|
1,560,661 |
|
Cooperatieve Rabobank UA,: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
5.50% |
|
|
|
|
|
|
400 |
|
|
|
429,483 |
|
6.63% |
|
|
|
|
|
|
200 |
|
|
|
227,002 |
|
HSBC Holdings PLC, 6.88% (d)(f)(k) |
|
|
|
|
|
|
300 |
|
|
|
302,250 |
|
Intesa Sanpaolo SpA,: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
7.00% |
|
|
|
|
|
|
375 |
|
|
|
403,683 |
|
7.70% (e) |
|
|
|
|
|
|
200 |
|
|
|
185,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
19 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Trusts |
|
|
|
|
Par
(000) |
|
|
Value |
|
Banks (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
JPMorgan Chase & Co.: (d)(k) 6.75% |
|
|
USD |
|
|
|
5,324 |
|
|
$ |
5,909,640 |
|
Series Q, 5.15% |
|
|
|
|
|
|
850 |
|
|
|
836,188 |
|
Series U, 6.13% |
|
|
|
|
|
|
4,228 |
|
|
|
4,402,194 |
|
Series V, 5.00% |
|
|
|
|
|
|
4,555 |
|
|
|
4,401,269 |
|
Santander UK Group Holdings PLC, 7.38% (d)(k) |
|
|
|
|
|
|
450 |
|
|
|
631,390 |
|
Wells Fargo & Co.: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
Series S, 5.90% |
|
|
|
|
|
|
3,310 |
|
|
|
3,430,650 |
|
Series U, 5.88% |
|
|
|
|
|
|
3,875 |
|
|
|
4,146,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
41,383,021 |
|
Capital Markets 0.9% |
|
|
|
|
|
|
|
|
|
|
|
|
Credit Suisse Group AG, 6.25% (d)(e)(k) |
|
|
|
|
|
|
200 |
|
|
|
192,750 |
|
Goldman Sachs Group, Inc., Series L, 5.70% (d)(k) |
|
|
|
|
|
|
6,658 |
|
|
|
6,633,032 |
|
Morgan Stanley,: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
Series H, 5.45% |
|
|
|
|
|
|
3,309 |
|
|
|
3,204,568 |
|
Series J, 5.55% |
|
|
|
|
|
|
440 |
|
|
|
440,000 |
|
UBS Group AG,: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
5.75% |
|
|
|
|
|
|
800 |
|
|
|
905,697 |
|
6.88% |
|
|
|
|
|
|
575 |
|
|
|
566,660 |
|
7.00% |
|
|
|
|
|
|
725 |
|
|
|
755,813 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,698,520 |
|
Diversified Financial Services 1.4% |
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corp.: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
Series AA, 6.10% |
|
|
|
|
|
|
5,121 |
|
|
|
5,244,222 |
|
Series DD, 6.30% |
|
|
|
|
|
|
1,215 |
|
|
|
1,289,419 |
|
Series V, 5.13% |
|
|
|
|
|
|
2,205 |
|
|
|
2,072,700 |
|
Series X, 6.25% |
|
|
|
|
|
|
5,354 |
|
|
|
5,481,157 |
|
Series Z, 6.50% |
|
|
|
|
|
|
2,791 |
|
|
|
2,944,505 |
|
Barclays PLC,: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
7.88% |
|
|
|
|
|
|
350 |
|
|
|
480,309 |
|
8.00% |
|
|
|
|
|
|
300 |
|
|
|
336,298 |
|
Credit Agricole SA, 6.50% (d)(k) |
|
|
|
|
|
|
600 |
|
|
|
656,742 |
|
HBOS Capital Funding LP, 6.85% (k) |
|
|
|
|
|
|
300 |
|
|
|
305,250 |
|
Lloyds Banking Group PLC, 7.00% (d)(k) |
|
|
|
|
|
|
760 |
|
|
|
1,081,483 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,892,085 |
|
Diversified Telecommunication Services 0.3% |
|
|
|
|
|
|
|
|
|
|
|
|
Koninklijke KPN NV, 6.13% (d)(k) |
|
|
|
|
|
|
566 |
|
|
|
668,853 |
|
Orange SA, 4.00% (d)(k) |
|
|
|
|
|
|
1,225 |
|
|
|
1,381,018 |
|
Telefonica Europe BV,: (d)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
4.20% |
|
|
|
|
|
|
1,500 |
|
|
|
1,669,055 |
|
6.50% |
|
|
|
|
|
|
600 |
|
|
|
708,363 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,427,289 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Trusts |
|
|
|
|
Par
(000) |
|
|
Value |
|
Insurance 0.0% |
|
|
|
|
|
|
|
|
|
|
|
|
Generali Finance BV, 4.60% (d)(k) |
|
|
USD |
|
|
|
400 |
|
|
$ |
426,138 |
|
Media 0.0% |
|
|
|
|
|
|
|
|
|
|
|
|
NBCUniversal Enterprise, Inc., 5.25% (e)(k) |
|
|
|
|
|
|
400 |
|
|
|
414,000 |
|
Oil, Gas & Consumable Fuels 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
Enel SpA, 6.50% (d) |
|
|
|
|
|
|
577 |
|
|
|
694,996 |
|
Gas Natural Fenosa Finance BV, 3.38% (d)(k) |
|
|
|
|
|
|
1,300 |
|
|
|
1,294,193 |
|
Repsol International Finance BV, 4.50% (d) |
|
|
|
|
|
|
100 |
|
|
|
92,906 |
|
TOTAL SA, 3.88% (d)(k) |
|
|
|
|
|
|
625 |
|
|
|
716,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,798,220 |
|
Total Capital Trusts 5.7% |
|
|
|
|
|
|
|
|
|
|
82,039,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred Stocks |
|
|
|
|
Shares |
|
|
|
|
Banks 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
RBS Capital Funding Trust, Series F, 0.00% (k) |
|
|
|
|
|
|
93,975 |
|
|
|
2,377,567 |
|
Capital Markets 0.0% |
|
|
|
|
|
|
|
|
|
|
|
|
CF-B L2 (D) LLC, (Aquired 4/08/15, cost $111,497), 0.00% (c) |
|
|
|
|
|
|
633,461 |
|
|
|
489,520 |
|
Diversified Financial Services 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
Concrete Investments II, 0.00% |
|
|
|
|
|
|
4,997 |
|
|
|
606,031 |
|
Hotels, Restaurants & Leisure 1.1% |
|
|
|
|
|
|
|
|
|
|
|
|
Amaya, Inc., 0.00% |
|
|
|
|
|
|
19,851 |
|
|
|
16,006,747 |
|
Total Preferred Stocks |
|
|
|
|
|
|
|
|
|
|
19,479,865 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trust Preferreds |
|
|
|
|
|
|
|
|
|
Banks 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
RBS Capital Funding Trust VII, 6.08% |
|
|
|
|
|
|
107,071 |
|
|
|
2,680,701 |
|
Diversified Financial Services 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
GMAC Capital Trust I, 8.13% Series 2 (d) |
|
|
|
|
|
|
256,246 |
|
|
|
6,399,428 |
|
Total Trust Preferreds |
|
|
|
|
|
|
|
|
|
|
9,080,129 |
|
Total Preferred Securities 7.7% |
|
|
|
|
|
|
|
|
|
|
110,599,267 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
|
|
|
|
|
|
Warrants |
|
Shares |
|
|
Value |
|
Metals & Mining 0.0% |
|
|
|
|
|
|
|
|
Peninsula Energy Ltd. (Expires 12/31/15) |
|
|
288,820 |
|
|
$ |
1,252 |
|
Peninsula Energy Ltd. (Expires 12/31/18) |
|
|
515,378 |
|
|
|
48,424 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
49,676 |
|
Software 0.0% |
|
|
|
|
|
|
|
|
HMH Holdings/EduMedia (Issued/exercisable 3/09/10, 19 Shares for 1 Warrant, Expires 6/22/19,
Strike Price $42.27) |
|
|
6,494 |
|
|
|
16,673 |
|
Total Warrants 0.0% |
|
|
|
|
|
|
66,349 |
|
|
|
|
|
|
|
|
|
|
|
|
Value |
|
Total Long-Term Investments (Cost $2,077,029,589) 139.2% |
|
|
|
$ |
1,994,136,877 |
|
Options Purchased (Cost $38,133) 0.0% |
|
|
|
|
|
|
Total Investments (Cost $2,077,067,722*) 139.2% |
|
|
|
|
1,994,136,877 |
|
Liabilities in Excess of Other Assets (39.2)% |
|
|
|
|
(561,515,820 |
) |
|
|
|
|
|
|
|
Net Assets 100.0% |
|
|
|
$ |
1,432,621,057 |
|
|
|
|
|
|
|
|
* As of period end, gross unrealized appreciation and depreciation based on cost for federal income tax
purposes were as follows: |
|
|
|
|
|
|
Tax cost |
|
$ |
2,083,625,976 |
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
47,361,999 |
|
Gross unrealized depreciation |
|
|
(136,851,098 |
) |
|
|
|
|
|
Net unrealized depreciation |
|
$ |
(89,489,099 |
) |
|
|
|
|
|
|
Notes to Schedule of Investments |
(a) |
|
Non-income producing security. |
(b) |
|
All or a portion of security is held by a wholly owned subsidiary. |
(c) |
|
Restricted security as to resale, excluding 144A securities. As of period end, the Trust held restricted securities with a current value of $12,175 and an original cost of
$187,463 which was less than 0.05% of its net assets. |
(d) |
|
Variable rate security. Rate as of period end. |
(e) |
|
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. |
(f) |
|
When-issued security. |
(g) |
|
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.
|
(h) |
|
Issuer filed for bankruptcy and/or is in default of interest payments. |
(j) |
|
Convertible security. |
(k) |
|
Perpetual security with no stated maturity date. |
(l) |
|
Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
|
|
During the period ended May 31, 2016, investments in issuers considered to be affiliates of the Trust for purposes of Section 2(a)(3) of the Investment
Company Act of 1940, as amended, were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliate |
|
Shares Held at August 31, 2015 |
|
|
Shares Purchased |
|
|
Shares
Sold |
|
|
Shares Held at May 31, 2016 |
|
|
Value at May 31, 2016 |
|
|
Income |
|
|
Realized Gain (Loss) |
|
BlackRock Liquidity Funds, TempFund, Institutional Class |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,756 |
|
|
|
|
|
iShares iBoxx $ High Yield Corporate Bond ETF |
|
|
|
|
|
|
1,104,443 |
|
|
|
(1,104,443 |
) |
|
|
|
|
|
|
|
|
|
|
758,788 |
|
|
$ |
(2,263,123 |
) |
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
761,544 |
|
|
$ |
(2,263,123 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
21 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
|
|
AUD |
|
Australian Dollar |
CAD |
|
Canadian Dollar |
CLO |
|
Collateralized Loan Obligation |
DIP |
|
Debtor-In-Possession |
ETF |
|
Exchange-Traded Fund |
EUR |
|
Euro |
GBP |
|
British Pound |
LIBOR |
|
London Interbank Offered Rate |
OTC |
|
Over-the-Counter |
PIK |
|
Payment-In-Kind. |
SGD |
|
Singapore Dollar |
S&P |
|
Standard and Poors |
SPDR |
|
Standard & Poors Depository Receipts |
USD |
|
United States Dollar |
|
|
|
|
|
|
|
|
|
|
|
Derivative Financial Instruments Outstanding as of Period
End |
Futures Contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts
Short |
|
|
Issue |
|
Expiration |
|
Notional Value |
|
|
Unrealized
Appreciation
(Depreciation) |
|
|
(41 |
) |
|
German Euro BOBL Futures |
|
June 2016 |
|
USD |
5,993,380 |
|
|
$ |
4,529 |
|
|
(18 |
) |
|
German Euro-Bund Futures |
|
June 2016 |
|
USD |
3,283,943 |
|
|
|
(20,042 |
) |
|
(106 |
) |
|
Russell 2000 Mini Index |
|
June 2016 |
|
USD |
12,226,040 |
|
|
|
(765,087 |
) |
|
(401 |
) |
|
S&P 500 E-Mini Index |
|
June 2016 |
|
USD |
42,002,745 |
|
|
|
(887,595 |
) |
|
(11 |
) |
|
10-Year U.S. Treasury Note |
|
September 2016 |
|
USD |
1,426,562 |
|
|
|
(127 |
) |
|
Total |
|
|
|
|
|
|
|
|
|
|
$ |
(1,668,322 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forward Foreign Currency Exchange Contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Currency
Purchased |
|
|
Currency
Sold |
|
|
Counterparty |
|
Settlement
Date |
|
|
Unrealized
Appreciation
(Depreciation) |
|
|
|
EUR |
|
|
700,000 |
|
|
USD |
|
|
785,478 |
|
|
State Street Bank and Trust Co. |
|
|
6/06/16 |
|
|
$ |
(6,526 |
) |
|
|
EUR |
|
|
1,064,000 |
|
|
USD |
|
|
1,185,851 |
|
|
State Street Bank and Trust Co. |
|
|
6/06/16 |
|
|
|
(1,845 |
) |
|
|
GBP |
|
|
250,000 |
|
|
USD |
|
|
361,236 |
|
|
Morgan Stanley & Co. International PLC |
|
|
6/06/16 |
|
|
|
857 |
|
|
|
GBP |
|
|
500,000 |
|
|
USD |
|
|
724,228 |
|
|
State Street Bank and Trust Co. |
|
|
6/06/16 |
|
|
|
(41 |
) |
|
|
GBP |
|
|
540,000 |
|
|
USD |
|
|
789,147 |
|
|
State Street Bank and Trust Co. |
|
|
6/06/16 |
|
|
|
(7,026 |
) |
|
|
USD |
|
|
1,223,765 |
|
|
AUD |
|
|
1,605,000 |
|
|
Standard Chartered Bank |
|
|
6/06/16 |
|
|
|
63,935 |
|
|
|
USD |
|
|
21,507,007 |
|
|
CAD |
|
|
26,940,000 |
|
|
Westpac Banking Group |
|
|
6/06/16 |
|
|
|
963,740 |
|
|
|
USD |
|
|
170,047 |
|
|
EUR |
|
|
150,000 |
|
|
Bank of America N.A. |
|
|
6/06/16 |
|
|
|
3,129 |
|
|
|
USD |
|
|
484,319 |
|
|
EUR |
|
|
420,000 |
|
|
Canadian Imperial Bank of Commerce |
|
|
6/06/16 |
|
|
|
16,948 |
|
|
|
USD |
|
|
332,645 |
|
|
EUR |
|
|
291,000 |
|
|
Citibank N.A. |
|
|
6/06/16 |
|
|
|
8,823 |
|
|
|
USD |
|
|
76,839,788 |
|
|
EUR |
|
|
67,222,000 |
|
|
Morgan Stanley & Co. International PLC |
|
|
6/06/16 |
|
|
|
2,035,992 |
|
|
|
USD |
|
|
92,320 |
|
|
EUR |
|
|
80,000 |
|
|
Morgan Stanley & Co. International PLC |
|
|
6/06/16 |
|
|
|
3,297 |
|
|
|
USD |
|
|
346,038 |
|
|
EUR |
|
|
300,000 |
|
|
Morgan Stanley & Co. International PLC |
|
|
6/06/16 |
|
|
|
12,202 |
|
|
|
USD |
|
|
274,467 |
|
|
EUR |
|
|
240,000 |
|
|
Morgan Stanley & Co. International PLC |
|
|
6/06/16 |
|
|
|
7,398 |
|
|
|
USD |
|
|
2,243,252 |
|
|
EUR |
|
|
1,986,000 |
|
|
Morgan Stanley & Co. International PLC |
|
|
6/06/16 |
|
|
|
33,257 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Forward Foreign Currency Exchange Contracts (concluded)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Currency Purchased |
|
|
Currency Sold |
|
|
Counterparty |
|
Settlement Date |
|
Unrealized Appreciation (Depreciation) |
|
USD |
|
|
2,230,802 |
|
|
EUR |
|
|
2,000,000 |
|
|
Morgan Stanley & Co. International PLC |
|
6/06/16 |
|
|
5,227 |
|
USD |
|
|
57,667 |
|
|
EUR |
|
|
50,000 |
|
|
Standard Chartered Bank |
|
6/06/16 |
|
|
2,028 |
|
USD |
|
|
609,678 |
|
|
EUR |
|
|
532,000 |
|
|
State Street Bank and Trust Co. |
|
6/06/16 |
|
|
17,675 |
|
USD |
|
|
243,856 |
|
|
EUR |
|
|
213,000 |
|
|
State Street Bank and Trust Co. |
|
6/06/16 |
|
|
6,832 |
|
USD |
|
|
366,711 |
|
|
EUR |
|
|
322,000 |
|
|
State Street Bank and Trust Co. |
|
6/06/16 |
|
|
8,393 |
|
USD |
|
|
1,183,032 |
|
|
GBP |
|
|
808,000 |
|
|
Citibank N.A. |
|
6/06/16 |
|
|
12,746 |
|
USD |
|
|
34,567,421 |
|
|
GBP |
|
|
23,647,000 |
|
|
State Street Bank and Trust Co. |
|
6/06/16 |
|
|
317,756 |
|
USD |
|
|
461,035 |
|
|
GBP |
|
|
320,000 |
|
|
State Street Bank and Trust Co. |
|
6/06/16 |
|
|
(2,444 |
) |
USD |
|
|
1,162,770 |
|
|
AUD |
|
|
1,605,000 |
|
|
Standard Chartered Bank |
|
7/06/16 |
|
|
4,194 |
|
USD |
|
|
20,683,143 |
|
|
CAD |
|
|
26,940,000 |
|
|
Royal Bank of Canada |
|
7/06/16 |
|
|
139,864 |
|
USD |
|
|
80,960,808 |
|
|
EUR |
|
|
72,502,000 |
|
|
Barclays Bank PLC |
|
7/06/16 |
|
|
195,246 |
|
USD |
|
|
331,065 |
|
|
EUR |
|
|
297,000 |
|
|
State Street Bank and Trust Co. |
|
7/06/16 |
|
|
214 |
|
USD |
|
|
34,393,853 |
|
|
GBP |
|
|
23,485,000 |
|
|
Barclays Bank PLC |
|
7/06/16 |
|
|
370,957 |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,212,828 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTC Options Purchased
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description |
|
Put/ Call |
|
|
Counterparty |
|
|
Expiration Date |
|
Strike Price |
|
|
Contracts |
|
|
Value |
|
Marsico Parent Superholdco LLC |
|
|
Call |
|
|
|
Goldman Sachs & Co. |
|
|
12/14/2019 |
|
|
USD |
|
|
|
942.86 |
|
|
|
39 |
|
|
$ |
|
|
Centrally Cleared Credit Default Swaps Sold Protection
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuer / Index |
|
Receive Fixed Rate |
|
|
Expiration Date |
|
Credit Rating1
|
|
Notional Amount (000)2 |
|
|
Unrealized Appreciation |
|
Dow Jones CDX North America High Yield Index, Series 26, Version 2 |
|
|
5.00 |
% |
|
6/20/21 |
|
B+ |
|
|
10,300 |
|
|
$ |
114,634 |
|
1 Using Standard
& Poors (S&Ps) rating of the issuer or the underlying securities of the index, as applicable. |
|
|
|
|
|
2 The maximum
potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement. |
|
|
|
|
|
OTC Credit Default Swaps Buy Protection
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuer |
|
Pay Fixed Rate |
|
|
Counterparty |
|
Expiration Date |
|
Notional Amount (000) |
|
|
Value |
|
|
Premiums Paid (Received) |
|
|
Unrealized Appreciation |
|
Dell, Inc. |
|
|
1.00 |
% |
|
Barclays Bank PLC |
|
6/20/21 |
|
|
USD |
|
|
|
305 |
|
|
$ |
50,124 |
|
|
$ |
52,609 |
|
|
$ |
(2,485 |
) |
Dell, Inc. |
|
|
1.00 |
% |
|
Citibank N.A. |
|
6/20/21 |
|
|
USD |
|
|
|
325 |
|
|
|
53,411 |
|
|
|
56,058 |
|
|
|
(2,647 |
) |
Dell, Inc. |
|
|
1.00 |
% |
|
Citibank N.A. |
|
6/20/21 |
|
|
USD |
|
|
|
1,400 |
|
|
|
230,081 |
|
|
|
248,439 |
|
|
|
(18,358 |
) |
Dell, Inc. |
|
|
1.00 |
% |
|
Goldman Sachs International |
|
6/20/21 |
|
|
USD |
|
|
|
355 |
|
|
|
58,342 |
|
|
|
61,233 |
|
|
|
(2,891 |
) |
Dell, Inc. |
|
|
1.00 |
% |
|
Morgan Stanley Capital Services LLC |
|
6/20/21 |
|
|
USD |
|
|
|
325 |
|
|
|
53,412 |
|
|
|
54,423 |
|
|
|
(1,011 |
) |
Total |
|
|
$ |
445,370 |
|
|
$ |
472,762 |
|
|
$ |
(27,392 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
23 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
OTC Credit Default Swaps Sell Protection
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuer |
|
Receive
Fixed
Rate |
|
|
Counterparty |
|
Expiration
Date |
|
|
Credit Rating1 |
|
|
Notional
Amount (000)2 |
|
|
Value |
|
|
Premiums
Paid
(Received) |
|
|
Unrealized
Appreciation |
|
CCO Holdings LLC |
|
|
8.00 |
% |
|
Deutsche Bank AG |
|
|
9/20/17 |
|
|
|
BB- |
|
|
USD |
|
|
8,180 |
|
|
$ |
914,896 |
|
|
|
|
|
|
$ |
914,896 |
|
Fiat Chrysler Automobiles NV |
|
|
5.00 |
% |
|
Bank of America N.A. |
|
|
12/20/20 |
|
|
|
BB |
|
|
EUR |
|
|
356 |
|
|
|
28,897 |
|
|
$ |
31,122 |
|
|
|
(2,225 |
) |
Fiat Chrysler Automobiles NV |
|
|
5.00 |
% |
|
Bank of America N.A. |
|
|
12/20/20 |
|
|
|
BB |
|
|
EUR |
|
|
3 |
|
|
|
276 |
|
|
|
298 |
|
|
|
(21 |
) |
CNH Industrial NV |
|
|
5.00 |
% |
|
Goldman Sachs International |
|
|
6/20/21 |
|
|
|
BB+ |
|
|
EUR |
|
|
554 |
|
|
|
69,889 |
|
|
|
55,867 |
|
|
|
14,022 |
|
Fiat Chrysler Automobiles NV |
|
|
5.00 |
% |
|
Barclays Bank PLC |
|
|
6/20/21 |
|
|
|
BB |
|
|
EUR |
|
|
102 |
|
|
|
7,554 |
|
|
|
7,082 |
|
|
|
472 |
|
Fiat Chrysler Automobiles NV |
|
|
5.00 |
% |
|
Citibank N.A. |
|
|
6/20/21 |
|
|
|
BB |
|
|
EUR |
|
|
98 |
|
|
|
7,246 |
|
|
|
6,785 |
|
|
|
461 |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,028,758 |
|
|
$ |
101,154 |
|
|
$ |
927,605 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 Using Standard
& Poors (S&Ps) rating of the issuer or the underlying securities of the index, as applicable. |
|
2 The maximum
potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement. |
|
OTC Total Return Swaps
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reference Entity |
|
Fixed Rate Floating Rate |
|
Counterparty |
|
Effective
Date |
|
Expiration Date |
|
|
Notional Amount (000) |
|
|
Value |
|
|
Premiums Paid (received) |
|
|
Unrealized Appreciation |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
3-Month LIBOR |
|
JPMorgan Chase Bank N.A. |
|
N/A |
|
|
6/20/16 |
|
|
USD |
|
|
2,700 |
|
|
$ |
102,835 |
|
|
|
|
|
|
$ |
102,835 |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
3-Month LIBOR |
|
Morgan Stanley Capital Services LLC |
|
N/A |
|
|
9/20/16 |
|
|
USD |
|
|
1,400 |
|
|
|
41,605 |
|
|
|
|
|
|
|
41,605 |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
3-Month LIBOR |
|
Citibank, N.A. |
|
N/A |
|
|
9/20/16 |
|
|
USD |
|
|
1,400 |
|
|
|
39,423 |
|
|
|
|
|
|
|
39,423 |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
3-Month LIBOR |
|
Morgan Stanley Capital Services LLC |
|
N/A |
|
|
9/20/16 |
|
|
USD |
|
|
2,700 |
|
|
|
53,159 |
|
|
|
|
|
|
|
53,159 |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
3-Month LIBOR |
|
JPMorgan Chase Bank N.A. |
|
N/A |
|
|
9/20/16 |
|
|
USD |
|
|
6,000 |
|
|
|
95,665 |
|
|
|
|
|
|
|
95,665 |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
3-Month LIBOR |
|
Goldman Sachs International |
|
N/A |
|
|
9/20/16 |
|
|
USD |
|
|
1,500 |
|
|
|
12,481 |
|
|
$ |
(857 |
) |
|
|
13,338 |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
3-Month LIBOR |
|
Goldman Sachs International |
|
N/A |
|
|
12/20/16 |
|
|
USD |
|
|
2,900 |
|
|
|
89.504 |
|
|
|
|
|
|
|
89,504 |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
3-Month LIBOR |
|
Goldman Sachs International |
|
N/A |
|
|
12/20/16 |
|
|
USD |
|
|
2,900 |
|
|
|
85,741 |
|
|
|
|
|
|
|
85,741 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
OTC Total Return Swaps (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reference Entity |
|
Fixed Rate Floating Rate |
|
|
Counterparty |
|
Effective
Date |
|
|
Expiration Date |
|
|
Notional Amount (000) |
|
|
Value |
|
|
Premiums Paid (received) |
|
|
Unrealized Appreciation |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
|
3-Month LIBOR |
|
|
Goldman Sachs International |
|
|
N/A |
|
|
|
12/20/16 |
|
|
USD |
|
|
2,000 |
|
|
$ |
18,611 |
|
|
$ |
(1,870 |
) |
|
$ |
20,481 |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
|
3-Month LIBOR |
|
|
Morgan Stanley Capital Services LLC |
|
|
N/A |
|
|
|
12/20/16 |
|
|
USD |
|
|
2,700 |
|
|
|
22,466 |
|
|
|
(2,759 |
) |
|
|
25,225 |
|
iShares iBoxx High Yield Corporate Bond ETF |
|
|
3-Month LIBOR |
|
|
JPMorgan Chase Bank N.A. |
|
|
N/A |
|
|
|
12/20/16 |
|
|
USD |
|
|
1,000 |
|
|
|
8,299 |
|
|
|
(1,022 |
) |
|
|
9,321 |
|
Markit iBoxx Liquid High Yield Index |
|
|
3-Month LIBOR |
|
|
Goldman Sachs International |
|
|
N/A |
|
|
|
6/20/16 |
|
|
USD |
|
|
500 |
|
|
|
105,583 |
|
|
|
|
|
|
|
105,583 |
|
Markit iBoxx Liquid High Yield Index |
|
|
3-Month LIBOR |
|
|
Goldman Sachs International |
|
|
N/A |
|
|
|
6/20/16 |
|
|
USD |
|
|
500 |
|
|
|
102,182 |
|
|
|
|
|
|
|
102,182 |
|
Markit iBoxx Liquid High Yield Index |
|
|
3-Month LIBOR |
|
|
Goldman Sachs International |
|
|
N/A |
|
|
|
6/20/16 |
|
|
USD |
|
|
760 |
|
|
|
34,316 |
|
|
|
(487 |
) |
|
|
34,803 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
6 |
|
|
|
30,569 |
|
|
|
|
|
|
|
30,569 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
3 |
|
|
|
7,077 |
|
|
|
|
|
|
|
7,077 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
5 |
|
|
|
40,706 |
|
|
|
|
|
|
|
40,706 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
3 |
|
|
|
14,838 |
|
|
|
|
|
|
|
14,838 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
7 |
|
|
|
23,266 |
|
|
|
|
|
|
|
23,266 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
7 |
|
|
|
16,328 |
|
|
|
|
|
|
|
16,328 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
13 |
|
|
|
31,778 |
|
|
|
|
|
|
|
31,778 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
3 |
|
|
|
7,826 |
|
|
|
|
|
|
|
7,826 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
15 |
|
|
|
35,573 |
|
|
|
|
|
|
|
35,573 |
|
Morgan Stanley Energy Long Basket Index |
|
|
FED Funds Effective Rate |
|
|
Morgan Stanley & Co. International PLC |
|
|
N/A |
|
|
|
3/30/17 |
|
|
USD |
|
|
7 |
|
|
|
16,598 |
|
|
|
|
|
|
|
16,598 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
25 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
OTC Total Return Swaps (concluded)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reference Entity |
|
Fixed Rate Floating Rate |
|
Counterparty |
|
Effective
Date |
|
Expiration Date |
|
Notional Amount (000) |
|
|
Value |
|
|
Premiums Paid (received) |
|
|
Unrealized Appreciation |
|
Morgan Stanley Energy Long Basket Index |
|
FED Funds Effective Rate |
|
Morgan Stanley & Co. International PLC |
|
N/A |
|
3/30/17 |
|
|
USD |
|
|
|
4 |
|
|
$ |
8,962 |
|
|
|
|
|
|
$ |
8,962 |
|
Total |
|
|
$ |
1,045,391 |
|
|
$ |
(6,995 |
) |
|
$ |
1,052,386 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Hierarchy as of Period End |
Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation
techniques are categorized into a fair value 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 Trust 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 Trusts own assumptions used in determining the fair value of investments and derivative financial instruments) |
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. The significant unobservable inputs used by the Global Valuation
Committee in determining the price for Fair Valued Investments are typically categorized as level 3.
Changes in valuation
techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trusts policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of
the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of
the risks associated with investing in those securities. For information about the Funds policy regarding valuation of investments and derivative financial instruments, refer to the Trusts most recent financial statements as contained in
its semi-annual report.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
The following tables summarize the Trusts investments and
derivative financial instruments categorized in the disclosure hierarchy:
Various inputs are used in determining the fair value
of investments and derivative financial instruments. For information about the Trusts policy regarding valuation of investments and derivative financial instruments, refer to the Notes to Financial Statements.
The following tables summarize the Trusts investments and derivative financial instruments categorized in the disclosure hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Assets: |
|
Investments: |
|
Long-Term Investments: |
|
Asset-Backed Securities |
|
|
|
|
|
$ |
27,843,865 |
|
|
$ |
5,977,232 |
|
|
$ |
33,821,097 |
|
Common Stocks |
|
$ |
33,558,210 |
|
|
|
29,986,305 |
|
|
|
956,149 |
|
|
|
64,500,664 |
|
Corporate Bonds |
|
|
|
|
|
|
1,563,587,704 |
|
|
|
6,012,887 |
|
|
|
1,569,600,591 |
|
Floating Rate Loan Interests |
|
|
|
|
|
|
187,117,274 |
|
|
|
10,926,005 |
|
|
|
198,043,279 |
|
Investment Companies |
|
|
12,848,381 |
|
|
|
|
|
|
|
|
|
|
|
12,848,381 |
|
Non-Agency Mortgage-Backed Securities |
|
|
|
|
|
|
4,657,236 |
|
|
|
|
|
|
|
4,657,236 |
|
Other Interests |
|
|
|
|
|
|
|
|
|
|
13 |
|
|
|
13 |
|
Preferred Securities |
|
|
11,457,696 |
|
|
|
82,039,273 |
|
|
|
16,612,778 |
|
|
|
110,109,747 |
|
Warrants |
|
|
|
|
|
|
48,424 |
|
|
|
17,925 |
|
|
|
66,349 |
|
|
|
|
|
|
Subtotal |
|
$ |
57,864,287 |
|
|
$ |
1,895,280,081 |
|
|
$ |
40,502,989 |
|
|
$ |
1,993,647,357 |
|
|
|
|
|
|
Investments Valued at NAV1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
489,520 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,994,136,877 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Derivative Financial Instruments2 |
|
Assets: |
|
Credit contracts |
|
|
|
|
|
$ |
1,044,485 |
|
|
|
|
|
|
$ |
1,044,485 |
|
Equity contracts |
|
|
|
|
|
|
1,052,386 |
|
|
|
|
|
|
|
1,052,386 |
|
Forward foreign currency contracts |
|
|
|
|
|
|
4,230,710 |
|
|
|
|
|
|
|
4,230,710 |
|
Interest rate contracts |
|
$ |
4,529 |
|
|
|
|
|
|
|
|
|
|
|
4,529 |
|
Liabilities: |
|
Credit contracts |
|
|
|
|
|
|
(29,638 |
) |
|
|
|
|
|
|
(29,638 |
) |
Equity contracts |
|
|
(1,652,682 |
) |
|
|
|
|
|
|
|
|
|
|
(1,652,682 |
) |
Forward foreign currency contracts |
|
|
|
|
|
|
(17,882 |
) |
|
|
|
|
|
|
(17,882 |
) |
Interest rate contracts |
|
|
(20,169 |
) |
|
|
|
|
|
|
|
|
|
|
(20,169 |
) |
|
|
|
|
|
Total |
|
$ |
(1,668,322 |
) |
|
$ |
6,280,061 |
|
|
|
|
|
|
$ |
4,611,739 |
|
|
|
|
|
|
1 As of period end,
certain of the Trusts Investments were fair valued using net asset value (NAV) per share and have been excluded from the fair value hierarchy. |
|
2 Derivative
financial instruments are swaps, futures contracts and forward foreign currency contracts, which are valued at the unrealized appreciation (depreciation) on the instrument. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
27 |
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
The Trust may hold assets and/or
liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Total |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash pledged: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Centrally cleared swaps |
|
$ |
598,000 |
|
|
|
|
|
|
|
|
$ |
598,000 |
|
Futures contracts |
|
|
2,620,150 |
|
|
|
|
|
|
|
|
|
2,620,150 |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan payable |
|
|
|
|
|
$ |
(575,000,000 |
) |
|
|
|
|
(575,000,000 |
) |
Bank overdraft |
|
|
|
|
|
|
(575,101 |
) |
|
|
|
|
(575,101 |
) |
Cash received: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTC derivatives |
|
|
|
|
|
|
(1,600,000 |
) |
|
|
|
|
(1,600,000 |
) |
Centrally cleared swaps |
|
|
|
|
|
|
(134,943 |
) |
|
|
|
|
(134,943 |
) |
Foreign currency overdraft |
|
|
|
|
|
|
(586,193 |
) |
|
|
|
|
(586,193 |
) |
|
|
|
|
|
Total |
|
$ |
3,218,150 |
|
|
$ |
(577,896,237 |
) |
|
|
|
$ |
(574,678,087 |
) |
|
|
|
|
|
During the period ended May 31, 2016, there were no transfers between Level 1 and Level 2.
A reconciliation of Level 3 investments and derivative financial instruments is presented when the Trust had a significant amount of Level 3
investments and derivative financial instruments 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset-Backed Securities |
|
|
Common Stocks |
|
|
Corporate Bonds |
|
|
Floating Rate Loan Interests |
|
|
Other Interests |
|
|
Preferred Securities |
|
|
Warrants |
|
|
Total |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Opening Balance, as of August 31,
20151 |
|
$ |
5,936,098 |
|
|
|
3,739,028 |
|
|
$ |
25,160,883 |
|
|
$ |
25,557,215 |
|
|
$ |
10,978 |
|
|
$ |
20,459,861 |
|
|
$ |
74,732 |
|
|
$ |
80,938,795 |
|
Transfers into Level 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transfers out of Level 32 |
|
|
(1,499,223 |
) |
|
|
|
|
|
|
(18,524,109 |
) |
|
|
(4,086,037 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(24,109,369 |
) |
Accrued discounts/premiums |
|
|
7,751 |
|
|
|
|
|
|
|
10,100 |
|
|
|
127,451 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
145,302 |
|
Net realized gain (loss) |
|
|
(6,362 |
) |
|
|
(1,991,848 |
) |
|
|
(25 |
) |
|
|
200,173 |
|
|
|
(400 |
) |
|
|
|
|
|
|
|
|
|
|
(1,798,462 |
) |
Net change in unrealized appreciation
(depreciation)3,4 |
|
|
(58,342 |
) |
|
|
(978,494 |
) |
|
|
(154,520 |
) |
|
|
(432,155 |
) |
|
|
(10,565 |
) |
|
|
(3,847,083 |
) |
|
|
(56,807 |
) |
|
|
(5,537,966 |
) |
Purchases |
|
|
2,843,410 |
|
|
|
187,463 |
|
|
|
146 |
|
|
|
347,486 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,378,505 |
|
Sales |
|
|
(1,246,100 |
) |
|
|
|
|
|
|
(479,588 |
) |
|
|
(10,788,128 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(12,513,816 |
) |
|
|
|
|
|
Closing Balance, as of May 31, 2016 |
|
$ |
5,977,232 |
|
|
$ |
956,149 |
|
|
$ |
6,012,887 |
|
|
$ |
10,926,005 |
|
|
$ |
13 |
|
|
$ |
16,612,778 |
|
|
$ |
17,925 |
|
|
$ |
40,502,989 |
|
|
|
|
|
|
Net change in unrealized appreciation (depreciation) on investments still held at May 31, 20164 |
|
$ |
(22,883 |
) |
|
$ |
(2,970,340 |
) |
|
$ |
(154,520 |
) |
|
$ |
(383,803 |
) |
|
$ |
(10,925 |
) |
|
$ |
(3,847,082 |
) |
|
$ |
(56,807 |
) |
|
$ |
(7,446,360 |
) |
|
|
|
|
|
|
1 |
|
The opening balance of preferred securities has been adjusted to exclude
certain investments amounting to $555,106 that were valued using NAV per share as no quoted market value is available. The fair value of those investments have been excluded from the fair value hierarchy due to the adoption of the Accounting
Standard Update related to Fair Value Measurement: Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). |
|
2 |
|
As of May 31, 2016, the Fund used significant unobservable inputs in determining the value of certain investments. As of May 31, 2016, the Fund used
observable inputs in determining the value of the same investments. As a result, investments with a beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy. |
|
3
|
|
Included in the related net change in unrealized appreciation (depreciation). |
|
4 |
|
Any difference between net change in unrealized appreciation (depreciation) and
net change in unrealized appreciation (depreciation) on investments held as of May 31, 2016 is generally due to investments no longer held or categorized as Level 3 at period end. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28 |
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
|
|
|
|
Consolidated Schedule of Investments (continued) |
|
BlackRock Corporate High Yield Fund, Inc. (HYT) |
The following table summarizes the valuation techniques used and
unobservable inputs utilized by the BlackRock Global Valuation Methodologies Committee (the Global Valuation Committee) to determine the value of certain of the Trusts Level 3 investments as of period end. The table does not
include Level 3 investments with values based upon unadjusted third party pricing information in the amount of $33,550,440. A significant change in third party pricing information could result in a significantly lower or higher value of such Level 3
investments and derivative financial instruments.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Value |
|
|
Valuation Techniques |
|
Unobservable Inputs |
|
Range of
Unobservable Inputs Utilized |
|
Weighted
Average
Input |
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks |
|
$ |
921,737 |
|
|
Market Comparables |
|
2P (Proved and Probable) Reserves1 |
|
$0.066x $0.794x |
|
|
|
|
|
|
|
|
|
|
2C (Contingent) Resources Multiple1 |
|
|
|
|
|
|
|
|
|
|
|
|
PV-10 Multiple1,2 |
|
0.355x |
|
|
Corporate Bonds3 |
|
|
6,012,887 |
|
|
Discounted Cash Flow |
|
Internal Rate of Return4 |
|
10.00% 11.00% |
|
|
|
|
|
|
|
|
Estimated Recovery Value |
|
|
|
|
|
|
Warrants |
|
|
17,925 |
|
|
Last Dealer MarkAdjusted |
|
Delta Adjustment Based on Daily Movement in the Common Equity4 |
|
90.0% |
|
|
|
|
|
|
|
|
Black-Scholes |
|
Implied Volatility4 |
|
43.85% |
|
|
|
|
|
|
Total |
|
$ |
6,952,549 |
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
Increase in unobservable input may result in a significant increase to value, while a decrease in the unobservable input may result in a significant
decrease to value. |
|
2 |
|
Present value of estimated future oil and gas revenues, net of estimated direct expenses discounted at an annual discount rate of 10%.
|
|
3 |
|
For the period ended May 31, 2016, the valuation technique for an investment classified as Corporate Bonds changed to an income approach. The investment
was previously valued utilizing the Last Transaction Price. An income approach was considered to be a more relevant measure of fair value for this investment. |
|
4 |
|
Decrease in unobservable input may result in a significant increase to value, while an increase in the unobservable input may result in a significant
decrease to value. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK CORPORATE HIGH YIELD FUND, INC. |
|
MAY 31, 2016 |
|
29 |
Item 2 Controls and Procedures
2(a) |
The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants 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 registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, the registrants 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 Corporate High Yield Fund,
Inc.
|
|
|
By: |
|
/s/ John M. Perlowski |
|
|
John M. Perlowski |
|
|
Chief Executive Officer (principal executive officer) of |
|
|
BlackRock Corporate High Yield Fund, Inc. |
Date: July 22, 2016
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 Corporate High Yield Fund, Inc. |
Date: July 22, 2016
|
|
|
By: |
|
/s/ Neal J. Andrews |
|
|
Neal J. Andrews |
|
|
Chief Financial Officer (principal financial officer) of |
|
|
BlackRock Corporate High Yield Fund, Inc. |
Date: July 22, 2016