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:__811-21566______

_______BlackRock Global Floating Rate Income Trust_______
(Exact name of registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE
19809
(Address of principal executive offices)
(Zip code)

Robert S. Kapito, President

BlackRock Global Floating Rate Income Trust

      40 East 52nd Street, New York, NY 10022      
(Name and address of agent for service)


Registrant’s telephone number, including area code:_888-825-2257__________________

Date of fiscal year end:___December 31, 2006
Date of reporting period:__September 30, 2006

Item 1. Schedule of Investments.

The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:


PORTFOLIO OF INVESTMENTS (Unaudited)
SEPTEMBER 30, 2006

BlackRock Global Floating Rate Income Trust (BGT)

Principal
Amount
Rating1
(000)
Description
Value
    LONG-TERM INVESTMENTS—159.6%    
      Corporate Bonds—21.4%    
      Aerospace & Defense—0.1%    
B $  671   DI Finance/DynCorp Intl., 9.50%, 2/15/13   $   694,485  
      Automotive—0.3%    
      Autonation, Inc.,    
BB+ 60 2     7.00%, 4/15/14   59,700  
BB+ 70 2,3     7.507%, 4/15/13   71,050  
BB- 150 2,3 Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 7.905%, 5/15/14   147,000  
B3 775 3 Delco Remy Intl., Inc., 9.507%, 4/15/09   751,750  
B 250   Lear Corp., 8.11%, 5/15/09   242,500  
CCC+ 120   Metaldyne Corp., 10.00%, 11/01/13   121,500  
      Total Automotive   1,393,500  
      Basic Materials—2.0%    
B+ 1,000 3 Abitibi-Consolidated, Inc., 8.89%, 6/15/11 (Canada)   980,000  
B+ 970   AK Steel Corp., 7.75%, 6/15/12   943,325  
B+ 260 3 Boise Cascade LLC, 8.382%, 10/15/12   261,300  
BB- 2,040 3 Bowater, Inc., 8.39%, 3/15/10   2,060,400  
BB+ 10   Chemtura Corp., 6.875%, 6/01/16   9,850  
B- 90   CPG International I, Inc., 10.50%, 7/01/13   91,350  
B2 20   Domtar, Inc., 7.125%, 8/15/15 (Canada)   18,650  
B+ 70   Donohue Forest Products, 7.625%, 5/15/07 (Canada)   70,525  
BB- 190   Georgia Gulf Corp., 9.50%, 10/15/14   188,678  
Ba3 750   Hercules, Inc., 6.75%, 10/15/29   713,437  
      Ineos Group Holdings PLC (United Kingdom)    
B2 225       7.875%, 2/15/16 (EUR)   266,766  
B2 430 2     8.50%, 2/15/16   409,575  
      Lyondell Chemical Co.,    
BB- 100       8.00%, 9/15/14   100,500  
BB- 170       8.25%, 9/15/16   172,763  
BB+ 300       11.125%, 7/15/12   328,125  
B- 565   Nalco Co., 8.875%, 11/15/13   591,837  
      NewPage Corp.,    
B3 55       10.00%, 5/01/12   57,338  
B3 1,500 3     11.739%, 5/01/12   1,620,000  
B- 50   PQ Corp., 7.50%, 2/15/13   47,500  
      Total Basic Materials   8,931,919  
      Building & Development—0.2%    
B+ 1,000 3 Ainsworth Lumber Co. Ltd., 9.117%, 10/01/10 (Canada)   810,000  
B- 20   Goodman Global Holding Co., Inc., 7.875%, 12/15/12   19,050  
      Total Building & Development   829,050  
      Consumer Products—1.3%    
B3 45   ALH Finance LLC, 8.50%, 1/15/13   43,988  
CCC+ 700 3 Ames True Temper, Inc., 9.507%, 1/15/12   705,250  
B3 400   Cenveo Corp., 7.875%, 12/01/13   380,000  
B- 75   Finlay Fine Jewelry Corp., 8.375%, 6/01/12   66,375  
B2 505 2 Knowledge Learning Corp., Inc., 7.75%, 2/01/15   472,175  
B- 400   Lazydays RV Center, Inc., 11.75%, 5/15/12   378,000  
B 180 3 Levi Strauss & Co., 10.122%, 4/01/12   185,400  
B3 530 2,3 Nutro Products, Inc., 9.23%, 10/15/13   547,225  
B+ 80 2 Quebecor World Capital Corp., 8.75%, 3/15/16 (Canada)   77,200  
BB+ 2,000 2 Reynolds American, Inc., 7.625%, 6/01/16   2,087,500  
B 825   United Rentals NA, Inc., 7.00%, 2/15/14   781,687  
      Total Consumer Products   5,724,800  

1

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
    Containers & Packaging—0.2%    
      Berry Plastics Holding Corp.,    
B2 $  110 2     8.875%, 9/15/14   $   110,550  
B2 500 2,3     9.265%, 9/15/14   502,500  
B+ 215   Smurfit-Stone Container Enterprises, Inc., 9.75%, 2/01/11   221,719  
      Total Containers & Packaging   834,769  
      Ecological Services & Equipment—0.1%    
BB- 625   Allied Waste NA, Inc., 5.75%, 2/15/11   596,094  
      Energy—7.9%    
BB+ 750 2 AES Corp., 9.00%, 5/15/15   804,375  
Ba1 130   ANR Pipeline Co., 9.625%, 11/01/21   160,225  
CCC+ 35   Chaparral Energy, Inc., 8.50%, 12/01/15   34,825  
BB- 70   Compagnie Generale de Geophysique SA, 7.50%, 5/15/15 (France)   69,300  
B+ 375   El Paso Production Holding Co., 7.75%, 6/01/13   384,375  
Ba3 505   Foundation Pennsylvania Coal Co., 7.25%, 8/01/14   492,375  
BB+ 14,430   Gazprom OAO, 9.625%, 3/01/13 (Germany)   17,051,931  
BB+ 40   Grant Prideco, Inc., 6.125%, 8/15/15   38,300  
B- 730   KCS Energy, Inc., 7.125%, 4/01/12   700,800  
      Pemex Project Funding Master Trust,    
BBB 800 4     9.375%, 12/02/08   860,400  
Baa1 12,700 3     Ser. 15, 7.307%, 10/15/09   13,112,750  
      Reliant Energy, Inc.,    
BB- 180       6.75%, 12/15/14   171,000  
BB- 750       9.25%, 7/15/10   776,250  
B1 300   Whiting Petroleum Corp., 7.25%, 5/01/13   294,000  
BB+ 490   Williams Cos., Inc., 8.75%, 3/15/32   536,550  
      Total Energy   35,487,456  
      Entertainment & Leisure—0.1%    
B3 130 2 Greektown Holdings LLC, 10.75%, 12/01/13   136,825  
B 60 2 Pokagon Gaming Authority, 10.375%, 6/15/14   63,975  
B3 25   Poster Financial Group, Inc., 8.75%, 12/01/11   26,094  
      Travelport, Inc.,    
B- 220 2     9.875%, 9/01/14   212,300  
B- 150 2     11.875%, 9/01/16   144,000  
BB- 20   Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 6.625%, 12/01/14   19,425  
      Total Entertainment & Leisure   602,619  
      Financial Institutions—4.0%    
B+ 92   AES Ironwood LLC, 8.857%, 11/30/25   100,684  
Ba2 2,000   Alrosa Finance Ltd., 8.125%, 5/06/08 (Luxembourg)   2,060,500  
BB+ 140   American Real Estate Partners LP/American Real Estate Finance Corp., 7.125%, 2/15/13   139,300  
Ba3 630   Crum & Forster Holdings Corp., 10.375%, 6/15/13   645,750  
BB- 60   Ford Motor Credit Co., 7.25%, 10/25/11   56,974  
      General Motors Acceptance Corp.,    
BB 3,000 3     6.407%, 1/16/07   2,998,144  
BB 200       6.875%, 8/28/12   198,454  
      Kazkommerts Intl. BV (Netherlands)    
Baa1 3,000 2     8.50%, 4/16/13   3,150,000  
BB+ 5,455       8.50%, 4/16/13   5,711,494  
BBB 25 3 Marsh & McLennan Cos., Inc., 5.64%, 7/13/07   25,000  
B+ 750 2 Rainbow National Services LLC, 8.75%, 9/01/12   802,500  
A2 2,000 3 Sberbank, 7.235%, 10/24/06 (Russia)   2,003,000  
B- 300 3 Universal City Florida Holding Co. I/II, 10.239%, 5/01/10   309,375  
      Total Financial Institutions   18,201,175  
      Health Care—0.7%    
B 280 2 Angiotech Pharmaceuticals, Inc., 7.75%, 4/01/14 (Canada)   267,400  
CCC+ 1,915 2,3 Healthsouth Corp., 11.418%, 6/15/14   1,958,087  
B- 150   Tenet Healthcare Corp., 6.875%, 11/15/31   116,250  
B- 600   Universal Hospital Services, Inc., 10.125%, 11/01/11   633,000  
      Total Health Care   2,974,737  

2

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
    Industrials—0.2%    
B $  150 2,3 Impress Holdings BV, 8.512%, 9/15/13   $   150,354  
B3 300   Park-Ohio Industries, Inc., 8.375%, 11/15/14   273,000  
B3 210 2 Sunstate Equipment Co. LLC, 10.50%, 4/01/13   218,137  
B3 445   Trimas Corp., 9.875%, 6/15/12   411,625  
      Total Industrials   1,053,116  
      Media—0.8%    
B- 50   Affinion Group, Inc., 10.125%, 10/15/13   52,313  
B+ 100 3 Cablevision Systems Corp., 9.87%, 4/01/09   106,625  
      Charter Communications Holdings II LLC/Charter Communications Holdings II Capital Corp.,    
CCC 680       10.25%, 9/15/10   695,300  
CCC 45       Ser. B, 10.25%, 9/15/10   45,675  
      Echostar DBS Corp.,    
BB- 820       6.375%, 10/01/11   799,500  
BB- 275       7.00%, 10/01/13   269,453  
BB- 230 2     7.125%, 2/01/16   223,100  
B 80   Medianews Group, Inc., 6.875%, 10/01/13   73,400  
B- 80   Network Communications, Inc., 10.75%, 12/01/13   80,000  
B2 70   Nexstar Finance, Inc., 7.00%, 1/15/14   63,700  
CCC+ 410 2 Nielsen Finance LLC/Nielsen Finance Co., 10.00%, 8/01/14   423,325  
B1 350 2,3 Paxson Communications Corp., 8.757%, 1/15/12   352,625  
B 250   RH Donnelley Corp., 8.875%, 1/15/16   251,562  
CCC+ 100 2 Unity Media GmbH, 10.375%, 2/15/15 (Germany)   93,625  
      Total Media   3,530,203  
      Real Estate—1.3%    
BB+ 6,350 4 Rouse Co., 5.375%, 11/26/13   5,865,161  
      Technology—0.1%    
B- 50 2 Sensata Technologies BV, 8.00%, 5/01/14 (Netherlands)   49,000  
B- 250 3 Sungard Data Systems, Inc., 9.973%, 8/15/13   259,375  
B 140   Superior Essex Communications LLC/Essex Group, Inc., 9.00%, 4/15/12   143,150  
      Total Technology   451,525  
      Telecommunications—2.0%    
BB- 310   Cincinnati Bell, Inc., 7.25%, 7/15/13   316,975  
B3 115 3 Hawaiian Telcom Communications, Inc., 10.789%, 5/01/13   117,875  
      Intelsat Ltd. (Bermuda)    
B 75       5.25%, 11/01/08   72,094  
BB- 50       8.25%, 1/15/13   50,750  
BB- 200       8.625%, 1/15/15   204,500  
BB- 485 3     10.484%, 1/15/12   491,063  
Ba2 1,500 3 Nordic Telephone Co. Holding ApS, 8.649%, 5/03/16 (Denmark) (EUR)   1,917,435  
BB 2,350 3 Qwest Communications Intl., Inc., 8.905%, 2/15/09   2,388,187  
BB+ 2,500 3 Qwest Corp., 8.64%, 6/15/13   2,690,625  
BB+ 400 3 Rogers Wireless Communications, Inc., 8.515%, 12/15/10 (Canada)   409,500  
B+ 150 2 Wind Acquisition Finance SA, 10.75%, 12/01/15 (Luxembourg)   164,625  
      Total Telecommunications   8,823,629  
      Transportation—0.1%    
B3 315   Horizon Lines LLC, 9.00%, 11/01/12   324,450  
      Total Corporate Bonds   96,318,688  
      Bank Loans—116.6%    
      Aerospace & Defense—1.7%    
  2,173   Caci Intl., Inc., LIBOR + 1.50%, 2/04/07   2,172,243  
  878   Camp Acquisition Co., Loan A, LIBOR + 3.00%, 8/30/11   877,622  
  988   DI Finance/DynCorp Intl., Loan B, LIBOR + 2.25%, 1/31/11   990,380  
  2,000   MRO Acquisition LLC, LIBOR + 5.25%, 9/15/11   2,012,500  
      Primus Intl., Inc.,    
  30       LIBOR + 0.50%, 6/16/12   29,724  
  471       LIBOR + 2.50%, 6/16/12   470,901  
  793   Standard Aero Holdings, Inc., LIBOR + 2.25%, 8/18/12   792,667  
  493   U.S. Investigations Services LLC, Loan B, LIBOR + 2.50%, 10/15/12   494,532  
      Total Aerospace & Defense   7,840,569  

3

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
      Automotive—3.2%    
  $  700   Dana Corp., LIBOR + 2.25%, 4/12/08   $   699,125  
      Goodyear Tire & Rubber Co.,    
  500       LIBOR + 2.75%, 4/01/10   502,708  
  1,000       LIBOR + 3.50%, 4/01/11   1,010,625  
  998   GPX Intl. Tire Corp., LIBOR + 2.50%, 3/31/12   998,747  
  746   IAP Worldwide Services, Inc., LIBOR + 3.00%, 12/31/12   749,670  
  498   Keystone Automotive, Inc., Loan C, LIBOR + 2.50%, 11/30/10   498,122  
  1,000   Lear Corp., LIBOR + 2.50%, 3/23/12   974,464  
  998   Mark IV Industries, Inc., LIBOR + 2.50%, 6/30/11   999,578  
  925   Metaldyne Corp., Loan D, LIBOR + 4.50%, 12/31/09   933,201  
  1,242   Progressive Moulded Products Ltd., Loan B, LIBOR + 5.50%, 8/30/11   1,068,478  
  2,986   TI Group Automotive Systems, Loan C, LIBOR + 3.25%, 6/30/11   2,926,674  
      TRW Automotive Acquisitions Corp.,    
  490       Loan B, LIBOR + 1.50%, 6/30/12   488,398  
  2,463       Loan E, LIBOR + 1.50%, 10/31/10   2,454,805  
      Total Automotive   14,304,595  
      Basic Materials—10.1%    
  2,419   Appleton Papers, Inc., LIBOR + 2.25%, 6/30/10   2,425,030  
      Basell NV,    
  417       Loan B2, LIBOR + 2.25%, 9/30/13   420,443  
  83       Loan B4, LIBOR + 2.25%, 8/01/14   84,089  
  83       Loan C4, LIBOR + 3.00%, 8/01/13   84,089  
  417       Loan C2, LIBOR + 3.00%, 9/30/14   420,443  
  1,621   Boise Cascade Corp., Loan D, LIBOR + 1.75%, 10/31/11   1,624,812  
      Brenntag Group,    
  393       LIBOR + 2.50%, 1/18/14   397,636  
  1,000       LIBOR + 6.50%, 12/31/12   1,012,500  
  1,607       Loan B2, LIBOR + 2.50%, 12/31/13   1,617,821  
  500       Loan B2, LIBOR + 2.50%, 9/15/14 (EUR)   640,366  
  602   Buckeye Technologies, Inc., LIBOR + 2.00%, 4/15/10   600,583  
      Celanese AG,    
  1,389       LIBOR + 2.00%, 4/06/11   1,392,128  
  1,963       LIBOR + 2.00%, 6/03/11   1,967,849  
  2,000   Cognis Deutschland, Loan B, LIBOR + 4.75%, 11/15/13   2,028,334  
  938   Compass Minerals Group, Inc., LIBOR + 1.50%, 12/31/12   937,485  
  6,860   Huntsman Intl. LLC, Loan B, LIBOR + 1.75%, 8/15/12   6,844,665  
      Ineos Group Holdings PLC,    
  2,250       Loan A4, LIBOR + 2.25%, 12/16/12   2,259,844  
  1,750       Loan B2, LIBOR + 2.25%, 12/16/14   1,763,855  
  1,750       Loan C2, LIBOR + 2.75%, 12/16/13   1,763,855  
  3,434   Innophos, Inc., LIBOR + 2.25%, 8/15/10   3,443,132  
      Invista BV,    
  2,464       Loan B1, LIBOR + 1.75%, 4/30/11   2,461,149  
  1,252       Loan B2, LIBOR + 1.50%, 4/30/11   1,252,646  
  658   John Maneely Co., Loan B, LIBOR + 3.00%, 3/31/13   662,266  
  219   Kraton Polymers LLC, LIBOR + 2.00%, 12/15/10   219,028  
  2,496   Nalco Co., Loan B, LIBOR + 1.75%, 11/04/10   2,496,851  
  494   PQ Corp., LIBOR + 2.00%, 2/28/12   494,367  
  496   Pregis Corp., Loan B2, LIBOR + 2.50%, 10/15/12 (EUR)   630,843  
  500   Professional Paint, Inc., LIBOR + 2.25%, 5/30/12   501,250  
  2,819   Rockwood Specialties Group, Inc., Loan E, LIBOR + 2.00%, 8/15/12   2,828,673  
      UPC Technology Corp. (EUR)    
  883       Loan J, LIBOR, 12/31/13   1,118,114  
  1,000       Loan K, LIBOR, 3/31/13   1,264,859  
      Total Basic Materials   45,659,005  

4

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
      Building & Development—3.1%    
  $     498   Contech Construction Products, Inc., LIBOR + 2.00%, 2/15/12   $      498,089  
  1,500   Custom Building Products, Inc., LIBOR + 5.00%, 4/30/12   1,502,500  
      Euramax Intl., Inc.,    
  334       LIBOR + 7.00%, 7/15/13   335,464  
  166       LIBOR + 7.00%, 7/15/13 (EUR)   166,411  
  1,250   Harmon Koval, 3.25%, 12/31/06   1,253,125  
  2,000   Landsource Communities Development LLC, Loan B, LIBOR + 2.50%, 3/31/10   1,993,334  
  500   Nacco Industries, Inc., LIBOR + 2.00%, 3/31/13   497,500  
  980   Nortek, Inc., Loan B, LIBOR, 8/24/11   974,708  
      Ply Gem Industries, Inc.,    
  1,636       LIBOR + 2.25%, 8/15/11   1,620,158  
  109       LIBOR + 2.25%, 8/15/11 (CND)   108,011  
  650   Pro Build Holdings, Loan B, LIBOR + 1.75%, 6/30/13   649,187  
  925   Rhodes Ranch, LIBOR + 3.25%, 11/15/10   920,375  
  1,000   Stolle Machinery Co. LLC, LIBOR + 2.50, 9/29/13   1,000,000  
  2,487   United Subcontractors, Inc., LIBOR + 2.75%, 12/31/12   2,481,281  
      Total Building & Development   14,000,143  
      Business Equipment & Services—0.2%    
  987   Latham Intl., LIBOR + 3.75%, 12/31/10   977,635  
      Conglomerates—5.6%    
  499   AGY Holding Corp., LIBOR + 2.75%, 4/30/12   500,309  
      Atlantis Plastics, Inc.,    
  990       LIBOR + 2.75%, 9/30/11   982,575  
  748       LIBOR + 7.25%, 9/30/11   736,287  
  1,243   Blount Intl., Loan B, LIBOR + 1.75%, 8/15/10   1,243,276  
  4976   Colfax Corp., LIBOR + 2.25%, 11/30/11 (EUR)   6,316,437  
  1,710   Fidelity National Information Solutions, Inc., Loan B, LIBOR + 1.75%, 3/30/13   1,712,426  
  419   Gentek, Inc., LIBOR + 4.25%, 3/15/12   421,553  
  3,430   Honeywell Security, Loan B, LIBOR + 3.25%, 6/28/10   3,438,651  
  1,000   Invensys Intl. Holdings Ltd, LIBOR + 2.25%, 12/15/10 (GBP)   1,875,472  
      Invensys PLC,    
  1,000       LIBOR + 2.00%, 12/15/10   1,002,500  
  783       LIBOR + 2.25%, 12/15/10   1,468,021  
      Jarden Corp.,    
  477       LIBOR + 2.00%, 1/24/12   475,422  
  860       Loan B2, LIBOR + 1.75%, 1/15/12   860,166  
  497       Loan B3, LIBOR + 1.75%, 1/24/12   494,920  
  393   Lionbridge Technologies, Inc., LIBOR + 3.50%, 9/15/11   392,682  
  758   Mueller Group, Inc., Loan B, LIBOR + 2.00%, 9/30/12   761,033  
  2,439   Polypore, Inc., LIBOR + 3.00%, 11/15/11   2,447,082  
      Total Conglomerates   25,128,812  
      Consumer Products—14.9%    
  1,000   Aearo Technologies, Inc., LIBOR + 6.50%, 9/30/13   1,012,500  
  998   24 Hour Fitness Worldwide, Inc., Loan B, LIBOR + 3.00%, 6/30/12   1,002,488  
  998   Aearo Technologies, Inc., LIBOR + 2.50%, 3/31/13   1,004,981  
  1,975   Alliance One Intl., Inc., Loan B, LIBOR + 3.50%, 5/13/10   1,984,875  
  750   American Safety Razor Co., LIBOR + 6.25%, 2/15/14   761,250  
  459   Arby’s Restaurant Group, Inc., Loan B, LIBOR + 2.25%, 7/31/12   458,710  
  500   Bare Escentuals Beauty, Inc., PRIME + 6.00%, 7/10/13   500,000  
      Berkline Bench Craft,    
  100       Loan B, LIBOR + 3.75%, 10/31/11   87,667  
  2,000       LIBOR + 10.0%, 4/30/12   550,000  
  750   Bumble Bee Foods LLC, Loan B, LIBOR + 1.75%, 4/30/11   749,062  
  1,493   Burlington Coat Factory Warehouse Corp., Loan B, LIBOR + 2.25%, 4/15/13   1,451,456  
  868   Carrols Corp., LIBOR + 2.50%, 12/31/10   872,089  
  495   Centerplate, Inc., LIBOR + 3.25%, 10/15/10   497,153  
  723   Central Garden & Pet Co., Loan B, LIBOR + 1.50%, 9/30/12   721,597  
  494   Chiquita Brands Intl., Inc., Loan C, LIBOR + 2.25%, 7/15/13   491,898  

5

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
      Consumer Products—(cont’d)    
  $      998   Coinmach Corp., Loan B1, LIBOR + 2.50%, 12/15/12   $     1,004,843  
  1,640   Commonwealth Brands, Inc., LIBOR + 2.25%, 12/15/12   1,647,568  
  2,493   Cracker Barrel, Loan B, LIBOR + 1.50%, 5/15/13   2,481,261  
  603   Culligan Intl. Co., Loan B, LIBOR + 2.00%, 10/15/11   602,777  
  2,000   Denny’s Corp., LIBOR + 5.13%, 8/25/10   2,020,834  
  1,092   Desa Intl., Inc., LIBOR + 5.75%, 12/30/11   1,091,043  
  500   Deutsch Connectors, LIBOR + 4.75%, 2/11/16   509,583  
      Eastman Kodak Co.,    
  876       Loan B1, LIBOR + 2.25%, 10/15/12   875,836  
  367       Loan B2, LIBOR + 2.25%, 10/15/12   366,794  
  500   Fender Musical Instruments Corp., LIBOR + 6.00%, 9/30/12   502,187  
      Foodvest Ltd., (GBP)    
  438       Loan B, LIBOR + 2.75%, 4/30/14   822,225  
  438       Loan C, LIBOR, 4/30/15   826,321  
      Fresh Start Bakeries,    
  500       LIBOR + 2.50, 9/30/13   500,000  
  500       LIBOR + 5.75, 3/30/14   500,000  
  500   FTD, Inc., LIBOR, 8/15/13   501,250  
      Hertz Corp.,    
  919       LIBOR + 2.25%, 12/31/07   923,595  
  358       LIBOR + 2.25%, 12/31/12   360,037  
  985   Landry’s Restaurants, Inc., Loan B, LIBOR + 1.75%, 12/31/10   983,769  
  709   Language Line, Inc., Loan B, LIBOR + 4.25%, 6/14/11   716,361  
  501   Latimer/Weetabix, LIBOR + 8.00%, 7/26/16 (GBP)   956,666  
  1,250   Le-Natures, Inc., Loan B, LIBOR + 4.00%, 9/30/11   1,267,187  
  1,673   Maidenform, Inc., LIBOR + 1.75%, 5/14/10   1,666,455  
  896   Mapco Express, Inc., LIBOR + 2.75%, 5/15/11   900,439  
  1,042   Movie Gallery, Inc., Loan B, LIBOR + 5.25%, 4/30/11   974,906  
  1,661   Neiman-Marcus Group, Inc., LIBOR + 2.50%, 4/15/13   1,671,781  
  1,548   New Page, Loan B, LIBOR + 3.00%, 4/30/12   1,555,972  
  3,500   Olympus Cable Holdings LLC, Loan B, PRIME + 2.00%, 9/30/10   3,398,283  
  1,500 5 Orchard Supply Hardware Stores Corp., Loan B2, LIBOR + 2.45%, 12/09/07   1,500,000  
  542   Oreck Corp., Loan B, LIBOR + 2.75%, 1/31/12   541,201  
      Oriental Trading Co.,    
  1,001       LIBOR + 2.75%, 6/30/13   997,500  
  500       LIBOR + 4.75%, 1/30/14   499,583  
      OSI Group LLC,    
  1,714       LIBOR + 1.75%, 9/15/11   1,711,216  
  1,714       Loan B, LIBOR + 1.75%, 9/15/11   1,711,223  
  899   PBM Products LLC, Loan B, LIBOR + 3.00%, 7/31/11   898,595  
  1,065   Pierre Foods, Inc., Loan B, LIBOR + 2.00%, 7/15/10   1,066,331  
  750   Pivotal Promontory LLC, LIBOR + 6.50%, 9/15/11   742,500  
  1,955   Prestige Brands Holdings, Inc., Loan B, LIBOR + 2.25%, 4/07/11   1,960,703  
  2,000   Quiznos Corp., LIBOR + 2.25%, 5/01/12   1,987,858  
  2,152   RH Donnelley, Inc., Loan D2, LIBOR + 1.50%, 12/31/11   2,134,355  
  1,493   Roundy’s Supermarkets, Inc., LIBOR + 3.00%, 11/15/11   1,503,072  
  673   Spectrum Brands, Inc., Loan B, LIBOR + 3.00%, 1/31/12   674,242  
  1,400   Sturm Foods, Inc., LIBOR + 2.25%, 5/31/11   1,401,750  
  1,497   Supervalu, Inc., Loan B, LIBOR + 1.75%, 6/15/12   1,495,939  
      Synventive Acquisition, Inc.,    
  812       LIBOR + 14.0%, 2/17/14   665,926  
  744       Loan B, LIBOR + 3.50%, 7/27/12   677,381  
  497   Travelcenters of America, Inc., Loan B, LIBOR + 1.75%, 6/30/11   497,127  
  915   Tupperware Corp., LIBOR + 1.50%, 11/07/12   907,477  
  524   Warnaco, Inc., Loan B, LIBOR + 1.50%, 1/31/12   519,105  
      Waterpik Technologies, Inc.,    
  500       LIBOR + 2.25%, 4/15/13   499,375  
  750       LIBOR + 6.50%, 10/15/13   757,500  
      Total Consumer Products   67,123,658  

6

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
      Containers & Packaging—5.2%    
      Bluegrass Container Co. LLC,    
  $      346       LIBOR + 2.25%, 6/30/13   $       347,614  
  1,500       LIBOR + 5.00%, 12/30/13   1,515,000  
  1,155       Loan B, LIBOR + 2.25%, 6/30/13   1,161,761  
  200   Covalence Specialty Materials Corp., LIBOR + 3.25%, 8/15/13   201,833  
      Georgia-Pacific Corp.,    
  2,488       LIBOR + 2.00%, 2/28/13   2,492,077  
  1,500       LIBOR + 3.00%, 2/28/14   1,513,062  
      Graham Packaging Co. LP,    
  5,673       Loan B, LIBOR + 2.25%, 10/01/11   5,683,164  
  1,414       Loan C, LIBOR + 4.25%, 4/01/12   1,424,228  
  3,425   Graphic Packaging Intl., Inc., Loan C, LIBOR + 2.50%, 8/08/10   3,455,181  
      Smurfit-Stone Container Enterprises, Inc.,    
  597       Loan B, LIBOR + 2.25%, 11/01/11   599,477  
  750       Loan B1, LIBOR + 2.50%, 2/15/15 (EUR)   959,994  
  750       Loan C1, LIBOR + 3.00%, 2/15/14 (EUR)   957,576  
  2,932   Solo Cup, Inc., PRIME + 1.50%, 2/27/11   2,923,953  
      Total Containers & Packaging   23,234,920  
      Ecological Services & Equipment—0.4%    
      Envirosolutions, Inc.,    
  927       LIBOR + 3.50%, 2/28/09   928,975  
  1,073       LIBOR + 3.50%, 7/15/12   1,074,775  
      Total Ecological Services & Equipment   2,003,750  
      Energy—6.4%    
  1,500   AES Corp., LIBOR + 1.75%, 4/30/08   1,500,124  
      Astoria Generating Co. Acquisitions LLC,    
  133       LIBOR + 2.00%, 2/23/13   133,749  
  564       Loan B, LIBOR + 2.00%, 2/23/13   565,580  
      Boart Longyear Co.,    
  500       LIBOR + 7.00%, 4/30/13   505,000  
  187       PRIME + 2.00%, 7/28/12 (CND)   188,370  
  1,301       PRIME + 2.00%, 11/30/12   1,304,102  
  955   Cellnet Technology, Inc., Loan B, LIBOR + 3.00%, 4/30/12   961,748  
      Coffeyville Resources LLC,    
  600       LIBOR + 2.50%, 6/22/11   602,550  
  891       Loan C, LIBOR + 2.25%, 7/15/12   894,821  
      Coleto Creek Power,    
  127       LIBOR, 7/31/13   126,592  
  1,873       Loan B, LIBOR, 7/31/13   1,860,907  
  249   Complete Production Services, Inc., Loan B, LIBOR + 2.50%, 8/31/12   248,823  
  1,493   Key Energy Services, Inc., Loan B, LIBOR + 3.25%, 8/15/12   1,498,097  
  1,000   LSP General Finance Co. LLC, LIBOR + 1.75%, 4/15/13   996,873  
  499   Meg Energy Corp., Loan B, LIBOR + 2.25%, 4/15/13   499,195  
  996   Mirant NA LLC, Loan B, LIBOR + 1.75%, 1/05/13   991,179  
  4,990   NRG Energy, Inc., LIBOR + 2.00%, 1/31/13   5,008,143  
  626   Petro Geological Services, Loan B, LIBOR + 2.50%, 12/31/12   629,859  
      Plum Point Energy Associates,    
  194       LIBOR + 3.75%, 3/14/14   196,229  
  716       Loan B, LIBOR + 3.25%, 3/14/14   722,833  
  1,250   Regency Gas, LIBOR, 8/15/13   1,260,547  
  2,976   Reliant Energy, Inc., LIBOR + 2.38%, 4/30/10   2,974,062  
      Semcrude LP,    
  1,438       LIBOR + 2.25%, 2/28/11 (CND)   1,443,230  
  678       LIBOR + 2.25%, 2/28/11   680,269  
  1,494   Trinidad Energy Services Income Trust, LIBOR + 2.50%, 4/15/11   1,493,750  
      Wolf Hollow I LP,    
  100       LIBOR + 0.50%, 6/22/12   99,000  
  400       LIBOR + 2.25%, 6/15/12   396,000  
  500       LIBOR, 12/15/12   495,000  
  485       Loan B, LIBOR + 2.25%, 6/15/12   480,748  
      Total Energy   28,757,380  

7

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
      Entertainment & Leisure—6.5%    
  $      990   Blockbuster Entertainment Corp., Loan B, LIBOR + 3.50%, 8/20/11   $       984,926  
  3,229   CCM Merger, Inc., Loan B, LIBOR + 2.00%, 7/31/12   3,214,168  
  750   Edge Las Vegas, LIBOR, 6/15/07   750,000  
  2,500   Fairmont Hotels & Resorts, Inc., Loan B, LIBOR + 3.25%, 7/15/11   2,512,500  
  2,000   Greektown Holdings LLC, Loan B, LIBOR + 2.50%, 12/15/12   2,012,500  
  2,500   Hallmark Entertainment LLC, Loan B, LIBOR + 2.50%, 12/31/11   2,493,750  
  1,485   Hit Entertainment Ltd., LIBOR + 2.25%, 8/31/12   1,489,949  
      Hollywood Theaters, Inc.,    
  1,715       LIBOR + 3.25%, 8/01/09   1,723,575  
  2,500       LIBOR + 7.00%, 1/21/10   2,525,000  
  1,485   Kerasotes Theatres, Inc., Loan B, LIBOR + 2.50%, 11/01/11   1,485,620  
  2,993   Metro-Goldwyn-Mayer Studios, Inc., Loan B, LIBOR + 3.25%, 4/15/12   2,959,903  
  750   Riverside Casino & Golf Resort LLC, Loan B, LIBOR + 4.00%, 11/15/12   750,000  
  925   Universal City Development Partners LP, Loan B, LIBOR + 2.00%, 6/30/12   925,455  
  1,500   Venetian Casino Resorts LLC, Loan B, LIBOR + 1.75%, 6/15/11   1,499,296  
      Wembley, Inc.,    
  990       LIBOR + 2.50%, 8/31/11   996,187  
  1,500       LIBOR + 4.25%, 8/31/12   1,513,125  
  1,099   Wyndham Intl., Inc., Loan E, LIBOR + 4.50%, 9/11/07   1,104,847  
  475   Yellowstone Mountain Club, LIBOR + 2.38%, 10/15/10   473,536  
      Total Entertainment & Leisure   29,414,337  
      Financial Institutions—13.8%    
  998   Advantage Sales & Marketing, Inc., LIBOR + 2.00%, 4/15/13   992,096  
  1,007   Arias Acquisitions, Inc., LIBOR + 3.75%, 7/30/11   971,681  
  250   Arrowhead General Insurance Agency, Inc., LIBOR, 8/15/12   252,188  
      Asurion Corp.,    
  1,199       LIBOR + 3.00%, 8/30/12   1,201,435  
  500       LIBOR + 6.25%, 2/28/13   505,313  
  2,000   Audatex, LIBOR + 5.50%, 10/15/13 (EUR)   2,586,823  
      Bankruptcy Management,    
  1,000       LIBOR + 2.75%, 6/30/11   1,005,625  
  500       LIBOR + 6.25%, 7/30/12   507,813  
      Billing Services Group,    
  63       LIBOR + 2.50%, 5/05/12 (EUR)   79,253  
  4,875       LIBOR + 2.50%, 5/05/12   6,181,747  
  1,000   BNY Convergex Group LLC, LIBOR + 3.00%, 8/31/13   1,000,000  
  500   Brock Holdings, LIBOR + 2.50%, 8/30/13   501,875  
  500   CCC Information Services Group, Inc., Loan B, LIBOR + 2.50%, 2/15/13   501,459  
  10,000   Century Corp., PRIME + 2.00%, 12/31/09   9,714,290  
  1,250   Charter Mac, Loan B, LIBOR + 2.50%, 8/15/12   1,251,562  
      GS Holdings Corp.,    
  499       LIBOR + 1.75%, 5/15/13 (CND)   497,326  
  95       LIBOR + 1.75%, 5/15/13   94,933  
  91       LIBOR, 5/15/11   90,852  
  64       LIBOR, 5/15/13   63,597  
  2,943   Jostens, Inc., Loan C, LIBOR + 2.00%, 10/15/11   2,953,544  
  850   Lucite Intl. Finance PLC, LIBOR + 9.00%, 7/15/14 (EUR)   1,060,665  
  2,000   Moeller Group, LIBOR, 9/17/12   2,569,071  
  750   N.E.W. Holdings I LLC, LIBOR, 8/31/13   752,812  
      Nasdaq Stock Market, Inc.,    
  1,246       Loan B, LIBOR + 1.75%, 4/18/12   1,244,879  
  723       Loan C, LIBOR + 1.75%, 4/18/12   721,696  
  6,000   Navistar Financial Corp., LIBOR + 5.00%, 2/28/09   6,060,000  
  2,000   Owens Illinois Group, Inc., Loan B, LIBOR, 6/30/13 (EUR)   2,536,101  
  1,493   Pinnoak Resources LLC, LIBOR + 3.25%, 11/22/12   1,462,650  
  1,244   Professional Service, Inc., Loan B, LIBOR + 2.75%, 10/31/12   1,245,305  
  1,823   Ripplewood Phosphorus U.S. LLC, LIBOR + 3.25%, 7/16/11   1,785,700  
  1,125   Sedgewick Claims Management Services, Inc., Loan B, LIBOR + 2.00%, 2/28/13   1,123,593  
  1,500   Targa Resources, Inc., LIBOR + 2.25%, 10/31/07   1,499,532  

8

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
      Financial Institutions—(cont’d)    
      TPG Springs,    
  $      997       LIBOR, 3/22/13 (GBP)   $      1,863,868  
  1,750       Loan B, LIBOR, 3/22/15 (EUR)   2,217,702  
  997       Loan C, LIBOR, 3/22/14 (GBP)   1,873,199  
      Transfirst Holdings, Inc.,    
  1,000       LIBOR + 6.25%, 8/09/13   1,007,500  
  1,000       Loan B, LIBOR + 2.50%, 8/09/12   1,003,750  
  460   USI Holdings Corp., Loan B, LIBOR + 2.25%, 7/30/08   460,672  
  750   Vertellus, LIBOR + 3.25%, 7/08/13   749,063  
      Total Financial Institutions   62,191,170  
      Health Care—7.5%    
  3,339   Arizant, Inc., LIBOR + 3.75%, 8/15/10   3,351,898  
  2,113   CCS Medical, Loan B, LIBOR + 3.25%, 10/31/12   2,035,249  
  2,357   Community Health Systems, Inc., LIBOR + 1.75%, 8/15/11   2,354,736  
  3,263   Concentra Operating Corp., Loan B, LIBOR + 2.00%, 9/30/11   3,265,497  
  855   Davita, Inc., Loan B, LIBOR + 2.00%, 6/30/12   857,536  
  682   Duloxetine Royalty, LIBOR + 4.50%, 10/15/13   682,199  
  6,000   Healthsouth Corp., Loan B, LIBOR + 3.25%, 3/15/13   6,019,998  
  2,941   IASIS Healthcare Corp., Loan B, LIBOR + 2.25%, 6/30/11   2,951,637  
  1,476   Jean Coutu Group, Inc., Loan B, LIBOR + 2.50%, 6/30/11   1,477,948  
  463   Multiplan, Inc., LIBOR + 2.00%, 4/15/13   461,449  
  750   National Renal Institutes, Inc., Loan B, LIBOR + 2.25%, 4/15/13   750,469  
      Quintiles Transnational Corp.,    
  998       LIBOR + 2.00%, 3/31/13   995,629  
  250       LIBOR + 4.00%, 3/31/14   253,828  
  498   Radnet Management, Inc., Loan B, LIBOR + 4.00%, 3/15/11   498,744  
  988   Select Medical Corp., Loan B, LIBOR + 1.75%, 2/28/12   967,997  
  3,014   U.S. Oncology, Inc., LIBOR + 2.25%, 6/30/11   3,019,203  
  988   Vanguard Health Holding Co. II LLC, LIBOR + 2.25%, 9/30/11   986,901  
      Warner Chilcott Corp.,    
  88       LIBOR + 2.50%, 1/18/11   88,236  
  440       LIBOR + 2.50%, 1/18/12   440,977  
  1,901       Loan B, LIBOR + 2.50%, 1/18/11   1,903,698  
  522       Loan C, LIBOR + 2.50%, 1/18/11   522,660  
      Total Health Care   33,886,489  
      Industrials—2.5%    
  1,500   Acosta, Inc., LIBOR + 2.75%, 8/15/13   1,513,750  
      Bolthouse Farms, Inc.,    
  995       LIBOR + 2.25%, 12/01/12   999,975  
  500       LIBOR + 5.50%, 12/16/13   508,334  
  333   Chart Industries, Inc., Loan B, LIBOR + 2.00%, 10/15/12   333,750  
  1,950   Drummond Co., Inc., LIBOR + 1.75%, 2/15/12   1,901,250  
      Novelis, Inc.,    
  224       Loan B, LIBOR + 2.25%, 1/13/10 (CND)   224,676  
  389       Loan B, LIBOR + 2.25%, 12/30/11   390,227  
  625   QTC Acquisition, Inc., LIBOR + 6.50%, 5/04/13   625,000  
      Standard Steel LLC,    
  83       LIBOR + 1.00%, 7/15/12   83,750  
  417       Loan B, LIBOR + 2.50%, 7/15/12   418,750  
  1,375   Thermo Fluids, Inc., Loan B, LIBOR + 3.00%, 8/15/11   1,375,000  
  2,000   Tinnerman Palnut Engineered Products, Inc., LIBOR + 7.75%, 11/01/11   1,920,000  
      Trimas Corp.,    
  94       LIBOR + 2.75%, 7/31/11   94,277  
  406       Loan B, LIBOR, 7/31/13   408,535  
  278   Worldspan LP, LIBOR + 2.75%, 6/30/07   277,040  
      Total Industrials   11,074,314  

9

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
      Media—18.7%    
  $     1,835   Alliance Atlantis Communications, Inc., Loan C, LIBOR + 1.50%, 11/30/11   $      1,833,131  
      American Lawyers Media, Inc.,    
  1,715       LIBOR + 2.50%, 3/15/10   1,709,066  
  2,000       LIBOR + 5.75%, 3/07/11   2,005,000  
  1,000   American Media Operations, Inc., Loan B, LIBOR + 3.00%, 1/31/13   1,002,500  
      Bresnan Communications Group LLC,    
  450       LIBOR + 2.00%, 10/15/13   448,875  
  250       LIBOR + 4.50%, 4/15/14   255,417  
  8,398   Cablecom SCA, Loan A, LIBOR, 12/31/10 (CHF)   6,703,512  
  10   Cablevision Systems Corp., LIBOR + 1.75%, 3/31/13   9,956  
  2,000   Century TCI California LP, PRIME, 12/31/07   1,975,416  
  6,000   Cequel Communications LLC, LIBOR + 2.25%, 11/01/13   5,945,628  
  3,500   Charter Communications Holdings LLC/Charter Communication Holdings Capital Corp.,
    LIBOR + 2.63%, 4/28/13		   3,513,825  
  734   CMP Susquehanna Corp., Loan B, LIBOR + 2.00%, 5/05/12   732,782  
  3,980   CSC Holdings, Inc., LIBOR + 1.75%, 3/31/13   3,962,587  
  3,407   Dex Media East LLC/Dex Media East Finance Co., Loan B, LIBOR + 1.50%, 12/31/08   3,385,928  
      Dex Media West LLC/Dex Media Finance Co.,    
  837       Loan B1, LIBOR + 1.50%, 9/09/10   831,764  
  1,508       Loan B2, LIBOR + 1.50%, 9/01/09   1,498,866  
  1,250   Gatehouse Media Operating, Inc., LIBOR + 2.25%, 12/15/13   1,249,219  
  4,000   German Media Partners LP, LIBOR, 6/06/13 (EUR)   5,084,883  
      Insight Midwest Holdings LLC,    
  3,324       Loan A, LIBOR + 1.25%, 6/30/09   3,318,926  
  2,970       Loan C, LIBOR + 2.00%, 12/31/09   2,976,658  
  4,000   KDG Media Technologies AG, Loan A, PRIME + 2.00%, 3/31/12 (EUR)   5,074,379  
  1,493   Liberty Cablevision of Puerto Rico Ltd., LIBOR + 2.25%, 2/15/13   1,492,500  
  1,900   Mediacom Communications Corp., Loan A, LIBOR + 1.00%, 3/31/10   1,862,444  
  1,975   Mediacom Illinois LLC, Loan C, LIBOR + 1.75%, 1/15/15   1,965,479  
  1,500   Meidacom Broadband LLC, Loan D1, LIBOR + 1.75%, 1/31/15   1,490,157  
  1,931   Mission Broadcasting, Inc., Loan B, LIBOR + 1.75%, 8/14/12   1,924,079  
      NEP Supershooters LP,    
  674       LIBOR + 4.00%, 2/01/11   679,880  
  500       LIBOR + 8.00%, 8/01/11   505,000  
  1250   New Wave Communications, LIBOR + 3.25%, 6/20/13   1,250,000  
  1,876   Nexstar Finance, Inc., Loan B, LIBOR + 1.75%, 8/14/12   1,868,813  
  3,000   Nielsen Finance LLC/Nielsen Finance Co., Loan B, LIBOR + 2.75%, 8/15/13   2,989,167  
  498   Prism Business Media, Inc., Loan B, LIBOR + 2.25%, 10/15/12   498,329  
      Prysmian Cables & Systems,    
  2,034       Loan B3a, LIBOR, 8/22/14   2,036,142  
  508       Loan C5a, LIBOR, 8/22/15   510,306  
  750   Puerto Rico Cable Acquisition Co., LIBOR + 6.25%, 7/31/11   753,750  
  746   Quebecor Media, Inc., Loan B, LIBOR + 2.00%, 1/17/13   749,981  
      TDC, (EUR)    
  1,250       Loan B, LIBOR, 11/12/14   1,597,863  
  1,250       Loan C2, LIBOR, 11/12/15   1,604,572  
  146   Triple Crown Media, Inc., LIBOR + 3.25%, 12/30/12   145,939  
  500   Wide Open West Finance LLC, Loan B, LIBOR + 2.25%, 4/30/13   499,375  
  1,913   WMG Acquisition Corp., LIBOR + 2.00%, 4/08/11   1,918,395  
  2,500   Yell Group PLC, Loan B, LIBOR + 2.00%, 2/15/13 (EUR)   3,191,031  
  993   Young Broadcasting, Inc., LIBOR + 2.50%, 11/01/12   988,160  
      Total Media   84,039,680  
      Real Estate—1.6%    
  1,051   Acoustical Materials, LIBOR + 2.75%, 4/30/12   1,051,442  
  2,250   Foster Wheeler Ltd., TBD, 9/15/11   2,252,812  
  2,596   Headwaters, Inc., LIBOR + 2.00%, 4/30/11   2,587,631  
  300   Kyle Acquisition Group LLC, LIBOR + 2.00%, 7/31/10   300,000  
      Masonite Intl. Corp.,    
  247       LIBOR + 2.00%, 3/31/13 (CND)   241,610  
  247       LIBOR + 2.00%, 3/31/13   242,019  
  401   Stewart Enterprises, Inc., Loan B, LIBOR + 1.75%, 11/30/11   400,986  
      Total Real Estate   7,076,500  

10

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description
Value
 
      Technology—5.1%    
  $      499   Activant Solutions, Inc., Loan B, LIBOR + 2.00%, 4/30/13   $       493,763  
  746   Affiliated Computer Services, Inc., Loan B, LIBOR + 2.00%, 3/31/13   747,766  
  750   Crown Castle Intl. Corp., Loan B, LIBOR + 2.25%, 6/15/13   752,410  
      Directed Electronics, Inc.,    
  2,901       LIBOR + 2.25%, 3/15/10   2,899,500  
  750       PRIME + 1.25%, 9/30/13   750,937  
  500   Electrical Components Intl. Holdings Co., LIBOR + 6.50%, 5/19/14   502,500  
  494   Federal IT Systems, Inc., LIBOR + 2.50%, 4/30/11   494,987  
  998   Nuance Communications, Inc., LIBOR + 2.00%, 12/29/13   987,525  
      Redprarie Corp.,    
  1,250       LIBOR + 6.50%, 1/31/13   1,250,000  
  998       Loan B, LIBOR, 7/31/12   997,500  
      Sensata Technologies BV,    
  1,500       LIBOR + 2.00%, 4/30/13 (EUR)   1,906,831  
  2,000       Loan B, LIBOR + 1.75%, 4/30/13   1,985,000  
  351   SS&C Technologies, Inc., LIBOR + 2.50%, 11/04/12 (CND)   352,088  
  2,475   Sungard Data Systems, Inc., Loan B, LIBOR + 2.50%, 1/05/13   2,490,689  
  2,114   UGS Corp., LIBOR + 1.75%, 5/30/11   2,109,317  
  2,861   Verifone, Inc., Loan B, LIBOR + 1.75%, 6/30/11   2,856,950  
  1,251   Westcom Corp., Loan B, LIBOR + 2.75%, 12/31/10   1,250,522  
      Total Technology   22,828,285  
      Telecommunications—8.8%    
  750   American Cellular Corp., LIBOR + 0.50%, 8/15/07   750,469  
  1,995   Atlantic Broadband Finance LLC, Loan B1, PRIME + 1.75%, 1/30/11   2,009,962  
  449   Cavalier Telecom, Loan B, LIBOR + 4.50%, 3/31/12   453,925  
  2,169   Centennial Cellular Operating Co., LIBOR + 2.25%, 2/09/11   2,179,572  
      Communication Supply Corp.,    
  403       LIBOR + 2.75%, 2/28/12   402,837  
  96       Loan B, LIBOR + 2.75%, 2/28/12   96,154  
  500   Country Road Communications LLC, LIBOR, 6/30/13   505,000  
      Eircom Group PLC, (EUR)    
  3,000       Loan B, LIBOR + 2.38%, 9/15/15   3,814,720  
  3,000       Loan C, LIBOR, 9/15/14   3,793,162  
  1,000       Loan D, LIBOR, 3/15/16   1,301,020  
  750   Fairpoint Communications, Inc., LIBOR + 1.75%, 2/15/12   744,375  
  2,000   Iowa Telecommunications Services, Inc., Loan B, LIBOR + 1.75%, 11/30/11   1,998,750  
      IPC Acquisition Corp.,    
  956       LIBOR + 2.75%, 8/15/11   960,248  
  750       LIBOR, 9/30/13   752,969  
  750       TBD, 8/15/12   754,687  
  1,000   Madison River Capital LLC, Loan B1, LIBOR + 2.25%, 7/31/12   1,003,125  
  1,738   NTELOS, Inc., LIBOR + 2.25%, 2/24/10   1,737,455  
      NTL Investment Holding Ltd.,    
  2,420       Loan B2, LIBOR + 2.13%, 9/03/12 (GBP)   4,515,235  
  80       Loan B2, LIBOR + 2.13%, 9/03/12   149,469  
  1,500       Loan C, LIBOR, 3/03/13   2,833,101  
  750   Nuvox Communications, LIBOR + 5.00%, 5/15/12   750,937  
  448   Triton PCS, Inc., LIBOR + 3.25%, 11/15/09   450,918  
      Wind Acquisition Finance SA, (EUR)    
  2,000       Loan A1, LIBOR + 2.25%, 7/31/13   2,551,952  
  2,000       Loan B1, LIBOR + 2.75%, 6/17/12   2,527,859  
  2,000       Loan C1, LIBOR + 3.25%, 7/31/12   2,539,272  
      Total Telecommunications   39,577,173  
      Transportation—1.3%    
  875   Delta Air Lines, Inc., Loan A, LIBOR + 2.75%, 4/15/08   882,500  
  400   Kenan Advantage Group, LIBOR + 3.00%, 12/15/11   402,000  
  360   Sirva Worldwide, Inc., LIBOR + 6.00%, 12/31/09   341,502  
  605   Transport Industries LP, Loan B, LIBOR + 2.50%, 9/30/11   606,921  
  995   UAL Corp., LIBOR + 3.75%, 1/31/12   1,008,474  
  2,501   Vanguard Car Rental Holdings, Inc., Loan B, LIBOR + 3.00%, 6/30/13   2,500,625  
      Total Transportation   5,742,022  
      Total Bank Loans   524,860,437  

11

BlackRock Global Floating Rate Income Trust (BGT) (continued)

Principal
 
Amount
 
Rating1
(000)
Description 
Value
 
  Foreign Government Bonds—21.6%     
B+ 
$      3,840   Argentina Republic, 4.005%, 8/03/12    $      2,686,080  
BB- 
4,357   Bolivarian Republic of Venezuela, 2.75%, 12/18/07    4,345,844  
  Federative Republic of Brazil,     
BB 
9,435 3,4    11.117%, 6/29/09    10,826,663  
BB 
640      Ser. B, 10.00%, 8/07/11    751,360  
B+ 
1,600   Islamic Republic of Pakistan, 6.75%, 2/19/09    1,597,440  
BB+ 
5,689   Kingdom of Morocco, 6.344%, 1/02/09    5,717,331  
A- 
800 4 Malaysia, 8.75%, 6/01/09    867,000  
A 
2,400 4 Republic of Chile, 6.875%, 4/28/09    2,496,000  
BB 
1,200 3 Republic of Colombia, 8.94%, 3/17/13    1,317,000  
BB 
3,200   Republic of Costa Rica, 9.335%, 5/15/09    3,446,400  
BB+ 
2,000   Republic of Panama, 8.25%, 4/22/08    2,070,500  
  Republic of Peru,     
BB 
5,376      4.50%, 3/07/17    5,281,920  
BB+ 
2,400      9.125%, 1/15/08    2,508,000  
BBB+ 
2,400 4 Republic of South Africa, 7.375%, 4/25/12    2,595,000  
BB- 
2,400   Republic of the Philippines, 8.875%, 4/15/08    2,505,444  
B+ 
950   Republic of Uruguay, 6.875%, 1/19/16 (EUR)    1,252,834  
  Republic of Venezuela,     
BB- 
2,214      3.063%, 3/31/07    2,202,862  
BB- 
4,000 3    6.511%, 4/20/11    3,960,000  
BB- 
4,800      9.125%, 6/18/07    4,900,800  
BB- 
2,000      11.00%, 3/05/08 (EUR)    2,754,409  
BBB+ 
4,000   Russian Federation, 10.00%, 6/26/07    4,127,600  
BB- 
2,735   Turkey, 7.00%, 9/26/16    2,680,300  
  Ukraine,     
BB- 
2,800 2    6.875%, 3/04/11    2,828,000  
BB- 
16,100 2,3,4    8.903%, 8/05/09    17,005,625  
  United Mexican States,     
Baa1 
4,800 3,4    6.20%, 1/13/09    4,850,400  
Baa1 
10,000      8.00%, 12/24/08 (MXN)    916,318  
A 
9,820      9.00%, 12/22/11 (MXN)    926,710  
  Total Foreign Government Bonds    97,417,840  
Shares        
  Common Stocks—0.0%     
947 5,6 Critical Care Systems Intl., Inc.    6,629  
  Total investments—159.6% (cost $715,560,2657)    $    718,603,594  
  Liabilities in excess of other assets (including $35,089,641 in reverse repurchase agreements payable, $18,427,821 in investments purchased payable, $16,938,058 in receivable from investments sold and 10,448,854 in interest receivable)—(5.5)%   
(24,646,215
) 
  Preferred shares at redemption value, including dividends payable—(54.1)%    (243,549,058 ) 
  Net Assets Applicable to Common Shareholders—100%    $    450,408,321  

1      Using the highest of Standard &Poor’s, Moody’s Investors Service or Fitch ratings.
2      Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of September 30, 2006, the Trust held 7.4% of its net assets, with a current market value of $33,532,353, in securities restricted as to resale.
3      Variable rate security. Rate shown is interest rate as of September 30, 2006.
4      Entire or partial principal amount pledged as collateral for reverse repurchase agreements.
5      Security is fair valued.
6      Non-income producing security.
7      Cost for Federal income tax purposes is $715,693,341. The net unrealized appreciation on a tax basis is $2,910,253, consisting of $8,288,970 gross unrealized appreciation and $5,378,717 gross unrealized depreciation.
  A category in the Corporate Bonds and Bank Loans sections may contain multiple industries as defined by the Securities and Exchange Commission’s Standard Industry Codes.
             
KEY TO ABBREVIATIONS 
CHF 
— 
Swiss Franc 
LIBOR
— 
London Interbank Offered Rate 
CND 
— 
Canadian Dollar
MXN
— 
Mexican Peso 
EUR 
— 
Euro 
PRIME
— 
Prime Rate 
GBP 
— 
British Pound 
TBD
— 
To Be Determined 

12

Item 2. Controls and Procedures.

(a) The Registrant’s principal executive and principal financial officers have evaluated the Registrant’s disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.

 

SIGNATURES

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.

(Registrant)___BlackRock Global Floating Rate Income Trust___

By: /s/ Donald C. Burke
_____________________________________________________________________
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: November 29, 2006

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/ Robert S. Kapito
_____________________________________________________________________
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: November 29, 2006

By: /s/ Donald C. Burke
_____________________________________________________________________
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: November 29, 2006