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UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21566

Name of Fund: BlackRock Floating Rate Income Trust (BGT)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock
Floating Rate Income Trust, 40 East 52nd Street, New York, NY 10022.

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

Date of fiscal year end: 10/31/2009

Date of reporting period: 07/31/2009

Item 1 – Schedule of Investments

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Corporate Bonds      (000)  Value 
Air Freight & Logistics - 0.0%  Park-Ohio Industries, Inc., 8.38%, 11/15/14  USD  125  $ 63,750 
Auto Components - 0.0%  The Goodyear Tire & Rubber Co., 5.01%, 12/01/09 (a)  60  59,775 
  Lear Corp., 8.75%, 12/01/16 (b)(c)      30  13,425 
          73,200 
Building Products - 0.0%  CPG International I, Inc., 10.50%, 7/01/13    90  63,900 
Capital Markets - 0.5%  E*Trade Financial Corp., 12.50%, 11/30/17 (d)(e)  577  566,903 
  Marsico Parent Co., LLC, 10.63%, 1/15/16 (e)  1,501  615,410 
  Marsico Parent Holdco, LLC, 12.50%, 7/15/16 (d)(e)  626  137,696 
Marsico Parent Superholdco, LLC, 14.50%,
  1/15/18 (d)(e)      430  103,155 
          1,423,164 
Chemicals - 0.4%  American Pacific Corp., 9.00%, 2/01/15    125  111,875 
  Ames True Temper, Inc., 4.51%, 1/15/12 (a)  1,100  962,500 
          1,074,375 
Commercial Banks - 4.3%  SNS Bank NV Series EMTN, 2.88%, 1/30/12  EUR  8,500  12,312,915 
Commercial Services &  DI Finance Series B, 9.50%, 2/15/13    USD  307  307,768 
Supplies - 0.1%           
Containers & Packaging - 0.1%  Berry Plastics Holding Corp., 4.50%, 9/15/14 (a)  300  210,000 
  Impress Holdings BV, 3.63%, 9/15/13 (a)(e)    150  133,500 
          343,500 
Diversified Financial Services - 0.1%  FCE Bank Plc, 7.13%, 1/16/12    EUR  200  255,127 
Diversified Telecommunication  Cincinnati Bell, Inc., 7.25%, 7/15/13    USD  290  281,662 
Services - 1.1%  PAETEC Holding Corp., 8.88%, 6/30/17 (e)    700  665,000 
  Qwest Corp., 3.88%, 6/15/13 (a)      2,500  2,350,000 
          3,296,662 
Electronic Equipment, Instruments &  Sanmina-SCI Corp., 8.13%, 3/01/16      540  477,900 
Components - 0.2%           
Energy Equipment & Services - 0.0%  Compagnie Generale de Geophysique-Veritas, 7.50%,     
  5/15/15      70  67,200 
  Compagnie Generale de Geophysique-Veritas, 7.75%,     
  5/15/17      50  47,875 
          115,075 
Food & Staples Retailing - 0.1%  Duane Reade, Inc., 11.80%, 8/01/15 (e)    240  233,801 
Food Products - 0.3%  Smithfield Foods, Inc., 10.00%, 7/15/14 (e)    700  729,750 
Health Care Equipment & Supplies - 0.3%  DJO Finance LLC, 10.88%, 11/15/14      815  770,175 
Health Care Providers & Services - 0.0%  Tenet Healthcare Corp., 9.00%, 5/01/15 (e)  95  100,225 
  Tenet Healthcare Corp., 10.00%, 5/01/18 (e)  35  38,675 
          138,900 
Hotels, Restaurants & Leisure - 0.0%  American Real Estate Partners LP, 7.13%, 2/15/13  140  129,850 
  Greektown Holdings, LLC, 10.80%, 12/01/13 (b)(c)(e)  122  18,300 
          148,150 
Household Durables - 0.0%  Berkline/BenchCraft LLC, 4.50%, 11/03/12 (b)(c)(d)  400  - 
IT Services - 0.2%  SunGard Data Systems, Inc., 4.88%, 1/15/14  763  692,423 
Independent Power Producers &  AES Ironwood LLC, 8.88%, 11/30/25      83  73,005 
Energy Traders - 0.9%  Calpine Construction Finance Co., LP, 8.00%, 6/01/16 (e)  2,580  2,592,900 
          2,665,905 
Machinery - 0.2%  Sunstate Equipment Co. LLC, 10.50%, 4/01/13 (e)  210  149,100 
  Synventive Molding Solutions Sub-Series A, 14.00%,     
  1/14/11      960  383,851 
          532,951 

1

BlackRock Floating Rate Income Trust       
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
       Par   
Industry  Corporate Bonds    (000)  Value 
Media - 1.2%  Affinion Group, Inc., 10.13%, 10/15/13  USD  50  $ 49,500 
  CSC Holdings, Inc., 8.50%, 4/15/14 (e)    550  566,500 
  Charter Communications Holdings II, LLC, 10.30%,     
  9/15/10 (b)(c)    260  278,200 
  Charter Communications Holdings II, LLC Series B,     
  10.30%, 9/15/10 (b)(c)    45  47,925 
  Charter Communications, Inc., 6.50%,       
  10/01/27 (b)(c)(f)    580  229,100 
  Charter Communications Operating, LLC, 8.00%,     
  4/30/12 (e)    210  209,475 
  EchoStar DBS Corp., 6.38%, 10/01/11    135  133,988 
  EchoStar DBS Corp., 7.00%, 10/01/13    158  156,025 
  EchoStar DBS Corp., 7.13%, 2/01/16    230  223,100 
  Local Insight Regatta Holdings, Inc., 11.00%, 12/01/17  977  273,560 
  Nielsen Finance LLC, 10.00%, 8/01/14    400  402,000 
  Rainbow National Services LLC, 8.75%,       
  9/01/12 (e)    750  757,500 
        3,326,873 
Metals & Mining - 0.2%  Foundation PA Coal Co., 7.25%, 8/01/14    505  505,000 
  Freeport-McMoRan Copper & Gold, Inc., 5.00%,     
  4/01/15 (a)    200  192,372 
        697,372 
Oil, Gas & Consumable Fuels - 9.2%  Morgan Stanley Bank AG for OAO Gazprom, 9.63%,     
  3/01/13    11,530  12,406,280 
Pemex Project Funding Master Trust, 2.31%,
  10/15/09 (a)(g)    12,700  12,731,750 
  SandRidge Energy, Inc., 4.22%, 4/01/14 (a)  1,400  1,152,298 
  Whiting Petroleum Corp., 7.25%, 5/01/13    300  300,000 
        26,590,328 
Paper & Forest Products - 0.5%  Ainsworth Lumber Co. Ltd., 11.00%, 7/29/15 (d)(e)  482  196,391 
  NewPage Corp., 6.73%, 5/01/12 (a)    1,500  630,000 
Verso Paper Holdings LLC Series B, 4.23%,
  8/01/14 (a)    1,215  583,200 
        1,409,591 
Pharmaceuticals - 0.5%  Angiotech Pharmaceuticals, Inc., 4.42%, 12/01/13 (a)  1,750  1,391,250 
Real Estate Investment Trusts  Rouse Co. LP, 5.38%, 11/26/13 (b)(c)    6,445  4,704,850 
(REITs) - 1.6%         
Specialty Retail - 0.2%  General Nutrition Centers, Inc., 6.40%,       
  3/15/14 (a)    500  445,000 
  Lazydays RV Center, Inc., 11.80%, 5/15/12 (b)(c)  375  3,750 
  Michaels Stores, Inc., 10.00%, 11/01/14    10  9,400 
        458,150 
Tobacco - 0.7%  Reynolds American, Inc., 7.63%, 6/01/16    2,000  2,077,096 
Wireless Telecommunication  Cricket Communications, Inc., 7.75%,       
Services - 1.4%  5/15/16 (e)    3,000  2,985,000 
  iPCS, Inc., 2.61%, 5/01/13 (a)    1,155  964,425 
        3,949,425 
  Total Corporate Bonds - 24.3%      70,324,326 

2

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
Aerospace & Defense - 0.9%  Avio SpA Dollar Mezzanine Term Loan, 4.25% - 8.54%,       
  12/13/16    USD  1,061  $ 396,314 
  Hawker Beechcraft Acquisition Co. LLC Letter of       
  Credit Facility Deposit, 0.40% - 2.10%, 3/26/14    163  109,922 
  Hawker Beechcraft Acquisition Co. LLC Term Loan,       
  2.29% - 2.60%, 3/26/14      2,754  1,860,895 
  IAP Worldwide Services, Inc. Term Loan (First-Lien),       
  2.00% - 7.25%, 12/30/12      230  161,383 
          2,528,514 
Airlines - 0.3%  US Airways Group, Inc. Loan, 2.79%, 3/21/14    1,460  722,700 
Auto Components - 3.0%  Allison Transmission, Inc. Term Loan, 3.03%, 8/07/14    5,793  4,989,593 
Dana Holding Corp. Term Advance, 7.25%,
  1/31/15      2,206  1,637,902 
Dayco Products LLC - (Mark IV Industries, Inc.)
  2nd Lien Term Loan, 8.50%, 5/01/10      101  90,725 
Dayco Products LLC - (Mark IV Industries, Inc.)
  First Lien Term Loan, 0.00%, 5/01/10      20  - 
Dayco Products LLC - (Mark IV Industries, Inc.)
  Replacement Term B Loan, 8.75%, 6/21/11 (b)(c)    853  230,403 
  Delphi Corp. Initial Tranche Term Loan C, 0.00%,       
  12/31/09 (b)(c)      2,723  1,271,733 
  Delphi Corp. Subsequent Tranche Term Loan C, 0.00%,       
  12/31/09 (b)(c)      277  129,516 
  GPX International Tire Corp. Term Loan, 12.00%, 4/11/12  11  3,220 
  GPX International Tire Corp. Tranche B Term Loan,       
  10.30%, 3/30/12 (b)(c)      639  191,557 
          8,544,649 
Automobiles - 0.5%  Ford Motor Co. Term Loan, 3.28% - 3.51%, 12/15/13    1,850  1,568,389 
Beverages - 0.2%  Culligan International Co. Loan (Second Lien), 5.28%,       
  4/24/13    EUR  1,000  332,568 
  Le-Nature's, Inc. Tranche B Term Loan, 10.25%,       
  3/01/11 (b)(c)    USD  1,000  166,667 
          499,235 
Building Products - 1.6%  Building Materials Corp. of America Term Loan       
  Advance, 3.06%, 2/22/14      2,686  2,402,589 
  Custom Building Products, Inc. Loan (Second Lien),       
  10.75%, 4/20/12      1,500  1,252,500 
  Momentive Performance Materials (Blitz 06-103 GmbH)       
  Tranche B-1 Term Loan, 2.56%, 12/04/13    1,221  955,154 
  United Subcontractors First Lien Term Loan, 2.10%,       
  6/30/15      179  152,180 
          4,762,423 
Capital Markets - 0.4%  Marsico Parent Co., LLC Term Loan, 4.81%,       
  12/15/14      462  198,749 
  Nuveen Investments, Inc. Term Loan, 3.49% - 3.50%,       
  11/13/14      1,199  972,832 
          1,171,581 
Chemicals - 8.3%  Ashland, Inc. Term Loan B, 7.65%, 5/13/14    1,525  1,549,988 
  Brenntag AG Second Lien Term Loan, 3.21%, 1/20/14  EUR  443  597,822 

3

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  Brenntag Holding GmbH & Co. KG Acquisition Facility       
  1, 2.27% - 2.99%, 1/20/14    USD  384  $ 362,690 
  Brenntag Holding GmbH & Co. KG Facility 3B (Second       
  Lien), 4.27%, 7/17/15      1,000  793,333 
  Brenntag Holding GmbH & Co. KG Facility B2, 2.27%,       
  1/20/14      1,572  1,485,441 
  Brenntag Holdings GmbH & Co. KG Facility B6A and       
  B6B, 3.60%, 11/24/37    EUR  500  674,978 
  Cognis GmbH Facility A, 3.27%, 11/17/13    803  965,538 
  Cognis GmbH Facility B (French), 3.27%, 11/16/13    197  236,458 
  ElectricInvest Holding Co. Ltd. (Viridian Group Plc)       
  Junior Term Facility, 5.08%, 4/20/12      1,787  1,599,793 
  ElectricInvest Holding Co. Ltd. (Viridian Group Plc)       
  Junior Term Facility, 5.09%, 12/21/12    GBP  1,800  1,882,266 
  Huish Detergents Inc. Loan (Second Lien), 4.53%,       
  10/26/14    USD  750  697,500 
  Huish Detergents Inc. Tranche B Term Loan, 2.04%,       
  4/26/14      1,729  1,622,571 
  Ineos US Finance LLC Term A4 Facility, 2.00% - 7.00%,       
  12/14/12      1,236  962,611 
  Ineos US Finance LLC Term B2 Facility, 2.00% - 7.50%,       
  12/16/13      631  483,525 
  Ineos US Finance LLC Term C2 Facility, 2.00% - 8.00%,       
  12/16/14      631  483,525 
  Matrix Acquisition Corp. (MacDermid, Inc.) Tranche C       
  Term Loan, 2.75%, 12/15/13    EUR  1,622  1,560,392 
  Nalco Co. Term Loan B, 6.50%, 5/06/16  USD  1,900  1,919,000 
  PQ Corp. (fka Niagara Acquisition, Inc.) Loan (Second       
  Lien), 6.79%, 7/30/15      2,250  900,000 
  PQ Corp. (fka Niagara Acquisition, Inc.) Term Loan       
  (First Lien), 3.54% - 3.75%, 7/31/14      2,723  2,105,399 
  Rockwood Specialties Group, Inc. Term Loan H, 6.00%,       
  5/15/14      1,229  1,240,004 
  Solutia Inc. Loan, 7.25%, 2/28/14      1,980  1,928,753 
          24,051,587 
Commercial Services & Supplies - 2.8%  ARAMARK Corp. Facility Letter of Credit, 0.22% -       
  2.03%, 1/26/14      155  146,688 
  ARAMARK Corp. U.S. Term Loan, 2.47%, 1/26/14    2,437  2,308,968 
  Casella Waste Systems Term Loan B, 7.00%, 12/21/12    1,100  1,086,250 
  EnviroSolutions Real Property Holdings, Inc. Initial       
  Term Loan, 10.50%, 7/07/12      2,022  1,445,975 
John Maneely Co. Term Loan, 3.52% - 3.76%,
  12/09/13      1,384  1,066,985 
  SIRVA Worldwide, Inc. Loan (Second Lien), 12.00%,       
  5/12/15      129  9,706 
  Synagro Technologies, Inc. Term Loan (First Lien),       
  2.27% - 2.29%, 4/02/14      1,976  1,570,966 

4

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  West Corp. Term B-2 Loan, 2.65% - 2.66%, 10/24/13  USD  437  $ 413,137 
          8,048,675 
Computers & Peripherals - 0.6%  Intergraph Corp. Initial Term Loan (First Lien), 2.66%,       
  5/29/14      1,169  1,104,413 
  Intergraph Corp. Second Lien Term Loan,       
  6.29% - 6.66%, 11/28/14      750  682,500 
          1,786,913 
Construction & Engineering - 0.7%  Airport Development and Investment Limited (BAA)       
  Facility (Second Lien), 5.05%, 4/07/11    GBP  566  516,048 
  Brand Energy & Infrastructure Services, Inc. (FR Brand       
Acquisition Corp.) First Lien Term Loan B,
  2.31% - 2.63%, 2/07/14    USD  501  460,798 
  Brand Energy & Infrastructure Services, Inc. (FR Brand       
Acquisition Corp.) Second Lien Term Loan,
  6.31% - 6.69%, 2/07/15      1,000  655,000 
  Brand Energy & Infrastructure Services, Inc. (FR Brand       
  Acquisition Corp.) Synthetic Letter of Credit Term       
  Loan (First Lien), 0.63% - 2.13%, 2/07/14    500  460,000 
          2,091,846 
Construction Materials - 0.4%  Headwaters Inc. Term Loan B1 (First Lien), 9.75%,       
  4/30/11      1,234  1,166,484 
Containers & Packaging - 4.0%  Atlantis Plastic Films, Inc. Term Loan (Second Lien),       
  15.00%, 3/22/12 (b)(c)      500  - 
  Graham Packaging Co., LP New Term Loan, 2.56%,       
  10/07/11      233  223,462 
  Graham Packaging Co., LP Term Loan C, 6.75%,       
  4/27/14      830  825,840 
  Graphic Packaging International, Inc. Incremental       
  Term Loan, 3.08% - 3.35%, 5/16/14      2,712  2,606,223 
  Modelo 3 S.a.r.l. (Mivisa) Tranche B2 Term Facility,       
  3.70%, 6/03/15    EUR  968  1,257,544 
  OI European Group B.V. Tranche D Term Loan, 2.02%,       
  6/14/13      1,915  2,545,200 
  Pregis Corp. Term Loan B2 (Euro), 3.00%,       
  9/30/12      471  537,471 
  Smurfit Kappa Acquisitions (JSG) C1 Term Loan       
  Facility, 4.13% - 4.89%, 7/16/15      724  977,363 
  Smurfit Kappa Acquisitions (JSG) Term B1, 3.88% -       
  4.73%, 7/16/14      728  982,920 
  Smurfit-Stone Container Canada, Inc. Tranche C,       
  2.57%, 11/01/11    USD  26  24,423 
  Smurfit-Stone Container Canada, Inc. Tranche C-1       
  Term Loan, 2.57%, 11/01/11      8  7,384 
  Smurfit-Stone Container Debtor in Possession Term       
  Loan, 10.00%, 7/28/10      1,296  1,308,625 
  Smurfit-Stone Container Enterprises, Inc. Deposit       
  Funded Facility, 4.50%, 11/01/10      12  11,510 
  Smurfit-Stone Container Enterprises, Inc. Tranche B,       
  2.57%, 11/01/11      14  12,912 

5

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
Smurfit-Stone Container Revolving Credit,
  0.10% - 4.50%, 11/01/09    USD  60 $  56,699 
  Smurfit-Stone Container Revolving Credit, 0.20% -       
  2.82%, 11/01/10      20  18,802 
          11,396,378 
Distributors - 0.3%  Keystone Automotive Operations, Inc. Loan,       
  3.77% - 5.75%, 1/12/12      1,656  745,015 
Diversified Consumer Services - 1.2%  Coinmach Corp. Term Loan, 3.28% - 3.43%,       
  11/14/14      2,545  2,004,282 
  Coinmach Laundry Corp. Delay Draw Term Loan, 3.28%       
  - 3.43%, 11/14/14      499  423,935 
  Education Management Corp. Term Loan C, 2.38%,       
  6/01/13      1,200  1,145,148 
          3,573,365 
Diversified Financial Services - 0.1%  Professional Service Industries, Inc. Term Loan (First       
  Lien), 3.04%, 10/31/12      620  310,223 
Diversified Media - 0.8%  Nielsen Co. Term Loan B, 4.03%, 5/01/16,    2,459  2,226,706 
Diversified Telecommunication  BCM Ireland Holdings Limited (Eircom) Facility B,       
Services - 5.1%  2.42%, 8/14/14    EUR  1,970  2,371,418 
  BCM Ireland Holdings Limited (Eircom) Facility C,       
  2.67%, 8/14/13      1,970  2,371,683 
  BCM Ireland Holdings Limited (Eircom) Facility D,       
  4.79%, 2/14/16      1,000  1,000,081 
  Cavtel Holdings, LLC Term Loan, 8.50%, 12/31/12  USD  374  216,639 
  Hawaiian Telcom Communications, Inc. Tranche C       
  Term Loan, 4.75%, 5/30/14      1,213  738,458 
  Integra Telecom Holdings, Inc. Term Loan (First Lien),       
  10.50%, 8/31/13      500  477,500 
  Nordic Telephone Co. Holdings APS Euro Facility B2,       
  2.04%, 4/06/14    EUR  885  1,211,510 
  Nordic Telephone Co. Holdings APS Euro Facility C2,       
  2.67%, 4/06/15      1,058  1,447,519 
  PAETEC Communications Term Loan, 2.79%, 2/28/13  USD  132  124,170 
  PAETEC Holding Corp. Replacement Term Loan, 2.79%,       
  2/28/13      311  292,543 
  Time Warner Telecom Holdings Inc. Term Loan B Loan,       
  2.04%, 1/07/13      622  598,052 
  Wind Telecomunicazioni SpA A1 Term Loan Facility,       
  3.02% - 3.08%, 9/22/12    EUR  848  1,146,258 
  Wind Telecomunicazioni SpA B1 Term Loan Facility,       
  3.83%, 9/22/13      1,000  1,350,069 
  Wind Telecomunicazioni SpA C1 Term Loan Facility,       
  4.83%, 9/22/14      1,000  1,350,069 
          14,695,969 
Electric Utilities - 0.3%  Astoria Generating Co. Acquisitions, LLC Term B       
  Facility, 2.03% - 2.10%, 2/23/13    USD  407  384,276 
  TPF Generation Holdings, LLC First Lien Term Loan,       
  2.29%, 12/15/13      429  403,344 

6

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  TPF Generation Holdings, LLC Synthetic Letter of       
  Credit Deposit (First Lien), 0.50% - 2.10%, 12/15/13  USD  151  $ 141,671 
  TPF Generation Holdings, LLC Synthetic Revolving       
  Deposit, 0.50% - 2.10%, 12/15/11      47  44,411 
          973,702 
Electrical Equipment - 0.4%  Electrical Components International Holdings Co. (ECI)       
  Term Loan (Second Lien), 11.50%, 5/01/14    500  25,000 
  Generac Acquisition Corp. First Lien Term Loan,       
  2.78%, 11/10/13      1,464  1,134,561 
          1,159,561 
Electronic Equipment, Instruments &  Flextronics International Ltd. A Closing Date Loan,       
Components - 1.2%  2.53% - 2.85%, 10/01/14      2,673  2,308,877 
  Flextronics International Ltd. Delay Draw Term Loan,       
  2.76%, 10/01/12      768  663,470 
  Matinvest 2 SAS (Deutsche Connector) Second Lien       
  Facility, 4.97%, 12/22/15      500  50,000 
  Safenet, Inc. Loan (Second Lien), 6.27%, 4/12/15    500  412,500 
  Tinnerman Palnut Engineered Products, LLC Second       
  Lien Term Loan, 13.00%, 11/01/11      2,407  18,051 
          3,452,898 
Energy Equipment & Services - 0.8%  Dresser, Inc. Term Loan (Second Lien), 6.02%, 5/04/15    1,500  1,143,750 
  MEG Energy Corp. Initial Term Loan, 2.60%, 4/03/13    484  439,003 
  Trinidad USA Partnership LLP US Term Loan, 2.78%,       
  5/01/11      1,022  869,741 
          2,452,494 
Food & Staples Retailing - 2.8%  AB Acquisitions UK Topco 2 Ltd. Facility B2 UK       
  Borrower, 3.54%, 7/09/15    GBP  2,500  3,589,732 
  Birds Eye Iglo Group Ltd. (Liberator Midco Ltd.) Sterling       
  Tranche Loan (Mezzanine), 4.00% - 4.59%, 11/02/15    407  568,970 
DS Waters of America, Inc. Term Loan, 4.27%,
  10/29/12    USD  1,000  816,667 
  McJunkin Corp. Term Loan, 3.54%, 1/31/14    499  473,162 
  Rite Aid Corp. Term Loan, 9.50%, 6/04/15    1,000  1,020,000 
  Roundy's Supermarkets, Inc. Tranche B Term Loan,       
  3.03% - 3.04%, 11/03/11      503  487,315 
  Wm. Bolthouse Farms, Inc. Second Lien Term Loan,       
  5.79%, 12/16/13      250  214,375 
  Wm. Bolthouse Farms, Inc. Term Loan (First Lien),       
  2.56%, 12/16/12      872  845,822 
          8,016,043 
Food Products - 2.9%  Dole Food Co., Inc. Credit-Linked Deposit,       
  0.51% - 6.86%, 4/12/13      192  193,085 
  Dole Food Co., Inc. Tranche B Term Loan, 8.00%,       
  4/12/13      336  338,105 
  FSB Holdings, Inc. (Fresh Start Bakeries) Term Loan       
  (Second Lien), 6.06%, 3/29/14      500  385,000 
  Solvest, Ltd. (Dole) Tranche C Term Loan, 8.00%,       
  4/12/13      1,253  1,259,773 

7

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  United Biscuits Holdco Ltd. Facility B1, 3.09% - 3.65%,       
  1/23/15    GBP  1,651  $ 2,466,230 
United Biscuits Holdco Ltd. Facility B2, 3.68%,
  12/14/14    EUR  535  693,368 
  Wm. Wrigley Jr. Co. Tranche B Term Loan, 6.50%,       
  10/06/14    USD  2,962  2,993,189 
          8,328,750 
Health Care Equipment &  Bausch & Lomb Inc. Delayed Draw Term Loan,       
Supplies - 1.9%  2.00% - 3.85%, 4/24/15      98  93,231 
Bausch & Lomb Inc. Parent Term Loan, 3.85%,
  4/24/15      388  367,330 
  Biomet, Inc. Term Loan, 3.50% - 4.21%, 3/25/15  EUR  2,528  3,410,156 
  DJO Finance LLC (ReAble Therapeutics Fin LLC) Term       
  Loan, 3.29% - 3.60%, 5/20/14    USD  1,489  1,381,977 
  Hologic, Inc. Tranche B Term Loan, 3.56%, 3/31/13    380  363,886 
          5,616,580 
Health Care Providers &  CCS Medical Debtor in Possession Term Loan,    31  30,309 
Services - 5.1%  11.00%, 11/14/09         
  CCS Medical, Inc. (Chronic Care) Term Loan (First       
  Lien), 4.35%, 9/30/12 (b)(c)      675  311,344 
  CHS/Community Health Systems, Inc. Delayed Draw       
  Term Loan, 2.54% - 2.92%, 7/25/14      229  214,891 
  CHS/Community Health Systems, Inc. Funded Term       
  Loan, 2.54%, 7/25/14      4,491  4,212,280 
  DaVita, Inc. Term Loan B, 1.78% - 2.10%, 10/05/12    900  859,821 
  Fresenius AG Term Loan B1, 6.75%, 7/06/14    968  973,094 
  Fresenius AG Term Loan B2, 6.75%, 7/06/14    521  524,217 
  HCA Inc. Tranche A-1 Term Loan, 2.10%, 11/17/12    3,494  3,285,588 
HealthSouth Corp. Term Loan, 2.53% - 2.54%,
  3/10/13      2,460  2,337,425 
  Surgical Care Affiliates, LLC Term Loan, 2.60%,       
  12/29/14      393  353,445 
  Vanguard Health Holding Co. II, LLC (Vanguard Health       
System, Inc.) Replacement Term Loan, 2.54%,
  9/23/11      1,641  1,581,947 
          14,684,361 
Hotels, Restaurants & Leisure - 3.1%  BLB Worldwide Holdings, Inc. (Wembley, Inc.) First       
  Priority Term Loan, 4.75%, 7/18/11 (b)(c)    2,418  1,293,743 
  BLB Worldwide Holdings, Inc. (Wembley, Inc.) Second       
  Priority Term Loan, 7.06%, 7/18/12 (b)(c)    1,500  90,000 
  Golden Nugget, Inc. Additional Term Advance (First       
  Lien), 2.28% - 2.66%, 6/30/14      272  184,759 
  Golden Nugget, Inc. Second Lien Term Loan, 3.54%,       
  12/31/14      500  207,500 
  Golden Nugget, Inc. Term Advance (First Lien), 2.29%,       
  6/30/14      477  324,545 
  Green Valley Ranch Gaming, LLC Second Lien Term       
  Loan, 3.88%, 8/16/14      1,500  255,000 

8

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  Green Valley Ranch Gaming, LLC Term Loan (New),       
  2.54% - 4.00%, 2/16/14    USD  471  $ 316,457 
  Harrah's Operating Co., Inc. Term B-1 Loan, 3.50%,       
  1/28/15      278  222,410 
  Harrah's Operating Co., Inc. Term B-2 Loan, 3.50%,       
  1/28/15      1,937  1,549,874 
  Harrah's Operating Co., Inc. Term B-3 Loan, 3.50% -       
  3.60%, 1/28/15      790  632,128 
  OSI Restaurant Partners, LLC Pre-Funded RC Loan,       
  0.45% - 2.63%, 6/14/13      32  24,489 
  Penn National Gaming, Inc. Term Loan B, 2.03% -       
  2.21%, 10/03/12      2,612  2,548,976 
  QCE, LLC (Quiznos) Term Loan (Second Lien), 6.35%,       
  11/05/13      2,500  1,268,750 
          8,918,631 
Household Durables - 1.8%  American Residential Services LLC Term Loan (Second       
  Lien), 2.00% - 10.00%, 4/17/15      2,040  1,779,743 
Berkline/BenchCraft, LLC. Term Loan, 4.04%,
  11/03/11 (b)(c)      107  5,354 
  Jarden Corporation Term Loan B3, 3.10%, 1/24/12    1,020  1,007,191 
  Simmons Bedding Co. Tranche D Term Loan, 10.50%,       
  12/19/11      1,500  1,410,000 
Yankee Candle Co., Inc. Term Loan, 2.29%,
  2/06/14      1,047  951,583 
          5,153,871 
Household Products - 0.2%  VI-JON, Inc. (VJCS Acquisition, Inc.) Tranche B Term       
  Loan, 2.28%, 4/24/14      750  678,714 
IT Services - 3.6%  Amadeus IT Group SA / Amadeus Verwaltungs GmbH       
  Term B3 Facility, 2.54%, 6/30/13    EUR  615  749,017 
  Amadeus IT Group SA / Amadeus Verwaltungs GmbH       
  Term B4 Facility, 2.54%, 6/30/13      489  596,264 
  Amadeus IT Group SA / Amadeus Verwaltungs GmbH       
  Term C3 Facility, 3.04%, 6/30/14      615  749,017 
  Amadeus IT Group SA / Amadeus Verwaltungs GmbH       
  Term C3 Facility, 3.04%, 6/30/14      489  596,264 
  Audio Visual Services Group, Inc. Loan (Second Lien),       
  7.10%, 8/28/14    USD  1,040  66,288 
  Ceridian Corp U.S. Term Loan, 3.29%, 11/09/14    1,977  1,623,811 
  First Data Corp. Initial Tranche B-1 Term Loan, 3.04%,       
  9/24/14      2,460  2,073,280 
  First Data Corp. Initial Tranche B-2 Term Loan, 3.04%,       
  9/24/14      494  414,724 
  First Data Corp. Initial Tranche B-3 Term Loan, 3.04%,       
  9/24/14      978  823,861 
  RedPrairie Corp. Loan (Second Lien), 6.97%, 1/20/13    1,250  893,750 
  RedPrairie Corp. Term Loan, 3.69% - 5.25%,    861  740,245 
  7/20/12         
  SunGard Data Systems Inc. (Solar Capital Corp.) New       
  US Term Loan, 6.75%, 2/28/14      598  596,355 

9

BlackRock Floating Rate Income Trust       
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
       Par   
Industry  Floating Rate Loan Interests    (000)  Value 
  SunGard Data Systems, Inc. Term Loan B, 3.95% -     
  4.09%, 2/28/16  USD  451  $ 430,981 
        10,353,857 
Independent Power Producers & Energy  Texas Competitive Electric Holdings Co., LLC (TXU)     
Traders - 3.2%  Initial Tranche B-1 Term Loan, 3.78% - 3.79%,     
  10/10/14    2,484  1,908,484 
  Texas Competitive Electric Holdings Co., LLC (TXU)     
Initial Tranche B-2 Term Loan, 3.78% - 3.79%,
  10/10/14    4,451  3,429,158 
  Texas Competitive Electric Holdings Co., LLC (TXU)     
Initial Tranche B-3 Term Loan, 3.78% - 3.79%,
  10/10/14    4,992  3,828,765 
        9,166,407 
Insurance - 0.5%  Alliant Holdings I, Inc. Term Loan, 3.60%, 8/21/14  982  886,706 
  Conseco, Inc. Term Loan, 6.50%, 10/10/13  729  525,169 
        1,411,875 
Internet & Catalog Retail - 0.3%  FTD Group, Inc. Tranche B Term Loan, 6.75%, 8/04/14  708  690,394 
  Oriental Trading Co., Inc. Loan (Second Lien), 6.29%,     
  1/31/14    500  70,000 
        760,394 
Leisure Equipment & Products - 0.4%  24 Hour Fitness Worldwide, Inc. Tranche B Term Loan,     
  2.79% - 3.08%, 6/08/12    968  822,375 
  Kerasotes Showplace Theatres, LLC Term B2, 5.06%,     
  10/28/11    553  414,486 
        1,236,861 
Life Sciences Tools & Services - 0.8%  Life Technologies Corp. Term B Facility, 5.25%,     
  11/20/15    2,378  2,393,351 
Machinery - 2.9%  Blount, Inc. Term Loan B, 2.03% - 3.25%, 8/09/10  535  497,223 
  CI Acquisition, Inc. (Chart Industries) Term Loan B,     
  2.31%, 10/17/12    222  204,444 
  LN Acquisition Corp. (Lincoln Industrial) Delayed Draw     
  Term Loan (First Lien), 2.83%, 7/11/14  254  226,534 
  LN Acquisition Corp. (Lincoln Industrial) Initial U.S.     
  Term Loan (First Lien), 2.78% - 2.83%, 7/11/14  677  604,090 
  NACCO Materials Handling Group, Inc. Loan, 2.29% -     
  3.41%, 3/21/13    485  329,800 
  Navistar International Corp. Revolving Credit-Linked     
  Deposit, 3.37% - 3.54%, 1/19/12    1,333  1,235,556 
  Navistar International Corp. Term Advance, 3.54%,     
  1/19/12    3,667  3,397,779 
  Oshkosh Truck Corp. Term B Loan, 6.60% - 6.64%,     
  12/06/13    1,493  1,474,336 
  Standard Steel, LLC Delayed Draw Term Loan, 8.25%,     
  7/02/12    74  59,477 
  Standard Steel, LLC Initial Term Loan, 9.00%, 7/02/12  369  295,105 
        8,324,344 
Marine - 1.0%  Delphi Acquisition Holding I B.V. (fka Dockwise)     
  Facility B1, 2.60%, 1/12/15    1,158  945,904 

10

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  Delphi Acquisition Holding I B.V. (fka Dockwise)       
  Facility C1, 3.47%, 1/11/16    USD  1,158  $ 945,904 
  Delphi Acquisition Holding I B.V. (fka Dockwise)       
  Facility D1, 4.78%, 1/11/16      1,650  945,999 
          2,837,807 
Media - 25.1%  Acosta, Inc. Term Loan, 2.54%, 7/28/13    1,188  1,120,824 
  Affinion Group Holdings, Inc. Loan, 9.27%, 3/01/12    975  819,000 
  AlixPartners, LLP Tranche C Term Loan,       
  2.28% - 2.51%, 10/12/13      931  912,840 
  Alpha Topco Ltd. (Formula One) Facility B1, 2.54%,       
  12/31/13      560  410,460 
  Alpha Topco Ltd. (Formula One) Facility B2, 2.54%,       
  12/31/13      378  277,254 
  Amsterdamse Beheer - En Consultingmaatschappij       
  B.V. (Casema) Casema B1 Term Loan Facility, 3.04%,       
  11/02/14    EUR  625  842,556 
  Amsterdamse Beheer - En Consultingmaatschappij       
  B.V. (Casema) Casema C Term Loan Facility, 3.54%,       
  11/02/15      625  842,556 
  Atlantic Broadband Finance, LLC Tranche B-2 Term       
  Loan, 2.85%, 9/01/11    USD  70  68,671 
  Atlantic Broadband Term Loan B, 6.75%, 6/01/13    1,871  1,864,536 
  Bresnan Communications, LLC Additional Term Loan B       
  (First Lien), 2.51% - 2.61%, 6/30/13      949  906,414 
  Bresnan Communications, LLC Second Lien Term Loan,       
  4.78%, 3/29/14      250  229,375 
  CSC Holdings Inc. (Cablevision) Incremental Term       
  Loan, 2.02% - 2.07%, 3/29/13      2,134  2,058,888 
  Catalina Marketing Corp. Initial Term Loan, 3.03%,       
  10/01/14      1,391  1,319,484 
Cengage Learning Acquisitions, Inc. (Thomson
  Learning) Tranche 1 Incremental Term Loan, 7.50%,       
  7/03/14      5,425  5,179,790 
  Cequel Communications, LLC (aka Cebridge) Term       
  Loan, 2.28% - 4.25%, 11/05/13      4,863  4,633,800 
  Charter Communications Operating, LLC Replacement       
  Term Loan, 6.25%, 3/06/14      1,302  1,214,960 
  Charter Communications Term Loan B1, 5.23% - 6.25%,       
  3/25/14      1,750  1,738,625 
  Clarke American Corp. Tranche B Term Loan, 2.79%,       
  6/30/14      1,962  1,528,268 
  FoxCo Acquisition Sub, LLC Term Loan, 7.25%, 7/14/15    897  701,730 
  Gray Television, Inc. Term Loan B - DD, 3.78%,       
  12/31/14      842  528,984 
  HIT Entertainment, Inc. Second Lien, 5.98%, 2/26/13    1,000  410,000 
HMH Publishing Co. Ltd. (fka Education Media)
  Mezzanine, 5.26% - 5.50%, 11/14/14      7,344  1,101,567 
  HMH Publishing Co. Ltd. (fka Education Media) Tranche       
  A Term Loan, 7.42% - 7.66%, 6/12/14      2,633  1,952,982 

11

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  Hanley-Wood, LLC (FSC Acquisition) Term Loan,       
  2.53% - 2.54%, 3/08/14    USD  2,217  $ 914,714 
  Hargray Acquisition Co./DPC Acquisition LLC/HCP       
  Acquisition LLC, Loan (Second Lien), 5.97%, 1/29/15    500  240,000 
  Hargray Acquisition Co./DPC Acquisition LLC/HCP       
  Acquisition LLC, Term Loan (First Lien), 2.72%, 6/27/14    973  868,487 
  Insight Midwest Holdings, LLC B Term Loan, 2.28%,       
  4/07/14      700  659,500 
  Kabel Deutschland Holding GmbH A Facility, 2.29%,       
  6/01/12    EUR  4,000  5,310,643 
  Knology, Inc. Term Loan, 2.54%, 6/30/12  USD  483  445,382 
  Lamar Advertising Co. Term Loan B, 5.50%, 9/30/12    1,825  1,797,625 
  Lavena Holding 3 GmbH (Prosiebensat.1 Media AG)       
  Facility B1, 3.53%, 6/28/15    EUR  337  173,413 
  Lavena Holding 3 GmbH (Prosiebensat.1 Media AG)       
  Facility C1, 3.78%, 6/30/16      674  346,826 
  Liberty Cablevision of Puerto Rico, Ltd. Initial Term       
  Facility, 2.27%, 6/17/14    USD  1,470  1,102,500 
  Local TV Finance, LLC Term Loan, 2.29%, 5/07/13    741  444,332 
  MCC Iowa LLC (Mediacom Broadband Group) Tranche A       
  Term Loan, 1.76%, 3/31/10      505  495,197 
  MCC Iowa LLC (Mediacom Broadband Group) Tranche D-       
  1 Term Loan, 2.01%, 1/31/15      1,213  1,137,318 
  MCNA Cable Holdings LLC (OneLink Communications)       
  Loan (PIK facility), 8.31%, 3/01/13      1,855  370,926 
  Mediacom Broadband (Term Loan E), 6.50%, 11/30/15    598  597,741 
  Mediannuaire Holding (Pages Jaunes) Term Loan B2,       
  2.77%, 1/11/15    EUR  438  357,444 
  Mediannuaire Holding (Pages Jaunes) Term Loan C,       
  3.27%, 1/11/16      905  739,482 
  Mediannuaire Holding (Pages Jaunes) Term Loan D,       
  4.77%, 1/11/17      500  228,047 
  Metro-Goldwyn-Mayer Inc. Tranche B Term Loan,       
  3.54%, 4/09/12    USD  1,910  1,093,585 
  Mission Broadcasting, Inc. Term B Loan, 2.35%,       
  10/01/12      1,771  1,301,944 
  Multicultural Radio Broadcasting, Inc. Term Loan,       
  3.03%, 12/18/12      320  224,000 
  NTL Cable Plc Term Loan, 3.89%, 11/19/37  GBP  942  1,446,046 
NV Broadcasting, LLC Second Lien, 5.25%,
  11/03/14 (b)(c)    USD  1,500  15,000 
  NV Broadcasting, LLC Term Loan (First Lien), 5.25%,       
  11/01/13 (b)(c)      821  205,367 
  New Vision DIP Term Loan, 10.30%, 7/14/12    120  118,800 
  Newsday, LLC Fixed Rate Term Loan, 9.75%, 8/01/13    1,500  1,515,000 
  Newsday, LLC Floating Rate Term Loan, 6.01%, 8/01/13    1,250  1,229,688 
  Nexstar Broadcasting, Inc. Term B Loan, 2.09% -       
  2.35%, 10/01/12      1,873  1,376,614 

12

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  Nielsen Finance LLC Dollar Term Loan, 2.28%, 8/09/13  USD  1,178  $ 1,092,744 
Parkin Broadcasting, LLC Term Loan, 5.25%,
  11/01/13      169  42,127 
  Penton Media, Inc. Loan (Second Lien), 5.49%,    1,000  210,000 
  Penton Media, Inc. Term Loan (First Lien), 2.54% -       
  2.74%, 2/01/13      1,100  695,552 
  Puerto Rico Cable Acquisition Co. Inc. (D/B/A Choice TV)     
  Term Loan (Second Lien), 7.81%, 2/15/12    692  450,000 
  Quebecor Media Exit Term Loan, 9.00%, 6/30/12    1,625  1,576,250 
  Quebecor Media Term Loan B, 2.51%, 1/17/13    724  667,659 
  Sunshine Acquisition Ltd. (aka HIT Entertainment)       
  Term Facility, 2.73%, 7/31/14      1,098  878,441 
  TWCC Holding Corp. Term Loan, 7.25%, 9/14/15    1,740  1,754,128 
  Telecommunications Management, LLC Multi-Draw       
  Term Loan, 3.79%, 6/30/13      232  139,381 
  Telecommunications Management, LLC Term Loan,       
  3.79%, 6/30/13      922  552,900 
  United Pan Europe Communications Term Loan, 4.54%,       
  12/31/17    EUR  3,767  4,804,901 
  Virgin Media Investment Holdings Limited (fka NTL) C       
  Facility, 3.62% - 3.89%, 7/17/13    GBP  1,945  2,840,872 
  Yell Group Plc Facility B2, 3.54%, 4/30/11  EUR  1,750  1,503,684 
          72,627,824 
Metals & Mining - 0.5%  Algoma Steel Inc. Term Loan, 2.79%, 6/20/13  USD  1,939  1,589,838 
Multi-Utilities - 0.6%  FirstLight Power Resources, Inc. (fka NE Energy, Inc.)       
       First Lien Term Loan B, 3.13%, 11/01/13    1,230  1,117,643 
  FirstLight Power Resources, Inc. (fka NE Energy, Inc.)       
       Second Lien Term Loan, 5.13%, 5/01/14    750  558,750 
  FirstLight Power Resources, Inc. (fka NE Energy, Inc.)       
  Synthetic Letter of Credit, 0.48% - 2.65%, 11/01/13    159  144,004 
  Mach Gen, LLC Synthetic Letter of Credit Loan       
       (First Lien), 0.35% - 2.25%, 2/22/13      69  61,167 
          1,881,564 
Multiline Retail - 0.4%  Dollar General Corp. Tranche B-1 Term Loan, 3.02% -       
  3.24%, 7/07/14      1,250  1,214,454 
Oil, Gas & Consumable Fuels - 2.0%  Big West Oil, LLC Delayed Advance Loan, 4.50%,       
  5/15/14      994  874,681 
Big West Oil, LLC Initial Advance Loan, 4.50%,
  5/15/14      612  538,269 
  Coffeyville Resources, LLC Funded Letter of Credit,       
  3.15% - 5.60%, 12/28/10      130  123,892 
  Coffeyville Resources, LLC Tranche D Term Loan,       
  8.75%, 12/30/13      1,039  992,591 
Drummond Co., Inc. Term Advance, 1.54%,
  2/14/11      1,075  1,042,750 
  Niska Gas Storage Canada ULC Canadian Term Loan B,       
  2.02%, 5/12/13      451  424,722 

13

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
         Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  Niska Gas Storage US, LLC US Term B Loan, 2.02%,       
  5/12/13    USD  47 $  44,630 
  Niska Gas Storage US, LLC Wild Goose Acquisition       
  Draw-US Term B, 2.02%, 5/12/13      32  30,232 
  Vulcan Energy Corp. (fka Plains Resources Inc.) Term       
  B3 Loan, 5.50%, 8/12/11      1,750  1,697,500 
          5,769,267 
Paper & Forest Products - 1.6%  Georgia-Pacific LLC Term B Loan, 2.34% - 2.65%,       
  12/20/12      3,271  3,146,455 
  NewPage Corporation Term Loan, 4.06%, 12/22/14    1,580  1,363,912 
  Verso Paper Finance Holdings LLC Loan, 6.73% - 7.48%,       
  2/01/13      353  70,668 
          4,581,035 
Personal Products - 0.5%  American Safety Razor Co., LLC Loan (Second Lien),       
  6.54%, 1/30/14      2,000  1,400,000 
Pharmaceuticals - 1.5%  Catalent Pharma Solutions, Inc. (fka Cardinal Health       
  409, Inc.) Euro Term Loan, 2.79%, 4/15/14  EUR  2,450  2,968,173 
  Warner Chilcott Co., Inc. Tranche B Acquisition Date       
  Term Loan, 2.29% - 2.60%, 1/18/12    USD  1,043  1,011,795 
  Warner Chilcott Corp. Tranche C Acquisition Date       
  Term Loan, 2.29%, 1/18/12      413  400,776 
          4,380,744 
Professional Services - 0.3%  Booz Allen Hamilton, Inc. Tranche B Term Loan,       
  7.50%, 7/31/15      995  996,240 
Real Estate Management &  Enclave First Lien Term Loan, 6.14%, 3/01/12    2,000  270,624 
Development - 0.2%  Georgian Towers Term Loan, 6.14%, 3/01/12    2,000  254,440 
  Pivotal Promontory, LLC Second Lien Term Loan,       
  14.75%, 8/31/11 (b)(c)      750  37,500 
          562,564 
Software - 0.2%  Bankruptcy Management Solutions, Inc. First Lien       
  Term Loan, 4.29%, 7/31/12      945  529,339 
  Bankruptcy Management Solutions, Inc. Loan (Second       
  Lien), 6.54%, 7/31/13      486  98,466 
          627,805 
Specialty Retail - 0.7%  Adesa, Inc. (KAR Holdings, Inc.) Initial Term Loan,       
  2.54%, 10/20/13      500  463,750 
  General Nutrition Centers, Inc. Term Loan, 2.53% -       
  2.85%, 9/16/13      261  236,875 
  Orchard Supply Hardware Term Loan B, 2.72%,       
  12/21/13      1,500  1,200,000 
          1,900,625 
Trading Companies & Distributors - 0.4%  Beacon Sales Acquisition, Inc. Term B Loan, 2.29% -       
  2.60%, 9/30/13      1,191  1,071,563 
Wireless Telecommunication  Digicel Group Term Loan B, 3.13%, 3/01/12    2,325  2,220,375 
Services - 1.3%  MetroPCS Wireless, Inc. New Tranche B Term Loan,       
  2.56% - 2.75%, 11/03/13      1,609  1,536,984 
          3,757,359 

14

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
  Floating Rate Loan Interests      (000)  Value 
  Total Floating Rate Loan Interests  - 99.7%    $ 288,172,035 
  Foreign Government Obligations         
  Brazilian Government International Bond, 10.30%,       
  6/17/13    USD  475  589,000 
  Colombia Government International Bond, 4.16%,       
  3/17/13 (a)(g)      1,200  1,215,000 
  Mexican Bonos Series M, 9.00%, 12/22/11  MXN  13,520  1,101,068 
  Republic of Venezuela, 1.51%, 4/20/11 (a)(g)  USD  4,000  3,360,000 
  South Africa Government International Bond, 7.38%,       
  4/25/12      2,400  2,628,000 
  Turkey Government International Bond, 7.00%,       
  9/26/16      2,735  2,858,075 
  Uruguay Government International Bond, 6.88%,       
  1/19/16    EUR  950  1,313,408 
  Total Foreign Government Obligations - 4.5%      13,064,551 
Industry  Common Stocks      Shares   
Chemicals - 0.0%  British Vita Holding Co. (e)      166  946 
Commercial Services & Supplies - 0.0%  Sirva      554  2,770 
Construction & Engineering - 0.0%  USI United Subcontractors      7,639  76,388 
Metals & Mining - 0.0%  Euramax International      1,135  12,203 
Paper & Forest Products - 0.1%  Ainsworth Lumber Co. Ltd. (e)      55,855  51,850 
  Ainsworth Lumber Co. Ltd. (b)(e)      62,685  57,983 
          109,833 
  Total Common Stocks - 0.1%        202,140 
  Preferred Securities         
  Preferred Stocks         
Capital Markets - 0.0%  Marsico Parent Superholdco, LLC, 16.80% (e)    100  25,000 
  Total Preferred Securities - 0.0%        25,000 
  Warrants (h)         
Chemicals - 0.0%  British Vita Holding Co. (non-expiring) (e)    166  - 
Machinery - 0.0%  Synventive Molding Solutions (expires 1/15/13)    2  - 
  Total Warrants        - 
      Beneficial   
      Interest   
  Other Interests (i)           (000)   
Commercial Services & Supplies - 0.2%  J.G. Wentworth LLC Preferred Equity Interests  USD  1  434,273 
Health Care Providers & Services - 0.0%  Critical Care Systems International, Inc.    1  191 
Household Durables - 0.0%  Berkline BenchCraft Equity LLC      6  - 
  Total Other Interests - 0.2%        434,464 
  Total Long-Term Investments         
  (Cost - $445,299,792) - 128.8%        372,222,516 
  Short-Term Securities    Shares   
  BlackRock Liquidity Funds, TempFund,       
  0.29% (j)(k)    2,700,766  2,700,766 
  Total Short-Term Securities (Cost - $2,700,766) - 0.9%    2,700,766 

15

BlackRock Floating Rate Income Trust         
Schedule of Investments July 31, 2009 (Unaudited)    (Percentages shown are based on Net Assets) 
      Options Purchased         Contracts  Value 
Over-the-Counter Put Options  Marsico Parent Superholdco LLC, expiring December 2009   
      at USD 942.86, Broker Goldman Sachs Group, Inc.  26  $ 26,000 
      Total Options Purchased       
      (Cost - $25,422) - 0.0%      26,000 
      Total Investments       
      (Cost - $448,025,980*) - 129.7%    374,949,282 
      Liabilities in Excess of Other Assets - (9.4)%    (27,128,657) 
      Preferred Shares, at Redemption Value - (20.3)%    (58,818,100) 
      Net Assets Applicable to Common Shares - 100.0%    $ 289,002,525 
*  The cost and unrealized appreciation (depreciation) of investments as of July 31, 2009, as computed for   
  federal income tax purposes, were as follows:         
  Aggregate cost    $ 448,092,109     
  Gross unrealized appreciation    $ 7,660,538     
  Gross unrealized depreciation      (80,803,365)     
  Net unrealized depreciation    $ (73,142,827)     
(a)   Variable rate security. Rate shown is as of report date.       
(b)   Non-income producing security.           
(c)   Issuer filed for bankruptcy and/or is in default of interest payments.     
(d)   Represents a payment-in-kind security which may pay interest/dividends in additional par/shares.   
(e)   Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in 
   transactions exempt from registration to qualified institutional investors.     
(f)   Convertible security.           
(g)   Restricted securities as to resale, representing 6.0% of net assets were as follows:     
          Acquisition     
   Issue        Date(s)  Cost  Value 
   Colombia Government International Bond, 4.16%, 3/17/13  2/15/06  $ 1,283,218  $ 1,215,000 
   Pemex Project Funding Master Trust, 2.31%, 10/15/09  8/27/04 - 12/15/04     12,726,080  12,731,750 
   Republic of Venezuela, 1.51%, 4/20/11    10/26/04       3,836,487  3,360,000 
   Total          $ 17,845,785  $ 17,306,750 
(h)   Warrants entitle the Trust to purchase a predetermined number of shares of common stock and are non-income producing. 
   The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date. 
(i)   Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income 
   producing.             
(j)   Represents the current yield as of report date.         
(k)   Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment 
   Company Act of 1940, were as follows:         
   Affiliate        Net Activity  Income 
   BlackRock Liquidity Funds, TempFund    2,700,766  $ 14,766 
•  Foreign currency exchange contracts as of July 31, 2009 were as follows:     
              Unrealized 
  Currency    Currency    Settlement  Appreciation 
  Purchased      Sold  Counterparty  Date  (Depreciation) 
  USD  9,179,134  GBP  5,551,000  Barclays Bank Plc  8/26/09  $ (92,985) 
  GBP  265,000  USD  432,960  Citibank NA  8/26/09  9,683 
  USD  446,347  EUR  320,000  Citibank NA  8/26/09  (9,776) 
  USD  3,556,660  GBP  2,175,000  Citibank NA  8/26/09  (76,354) 
  USD  722,857         MXN  9,801,000  Citibank NA  8/26/09  (16,534) 
  USD  557,878  EUR  400,000  Citibank NA  9/15/09  (12,280) 
16

BlackRock Floating Rate Income Trust               
Schedule of Investments July 31, 2009 (Unaudited)               
   •  Foreign currency exchange contracts as of July 31, 2009 were as follows:           
                      Unrealized 
  Currency               Currency        Settlement   Appreciation 
  Purchased                   Sold    Counterparty  Date  (Depreciation) 
  USD  61,198,905  EUR  43,830,500    Deutsche Bank AG  9/16/09  $ (1,276,863) 
  USD  748,122    EUR  530,000      UBS AG  9/16/09    (7,338) 
  Total                  $ (1,482,447) 
   •  Credit default swaps on single-name issues - sold protection outstanding as of July 31, 2009 were as follows:     
      Receive            Notional     
      Fixed          Credit  Amount    Unrealized 
  Issuer    Rate  Counterparty  Expiration  Rating (1)  (000) (2)   Depreciation 
  BAA Ferovial    Credit Suisse             
  Junior Term Loan  2.00%  International  March 2012  AA-  USD 1,800  $ (866,873) 
  1 Using Standard & Poor's rating of the issuer.               
  2 The maximum potential amount the Trust may pay should a negative credit event take place as defined under   
  the terms of the agreement.                 
   •  Credit default swaps on traded indexes - buy protection outstanding as of July 31, 2009 were as follows:     
        Pay          Notional     
        Fixed          Amount    Unrealized 
  Issuer      Rate  Counterparty    Expiration  (000)   Depreciation 
  Dow Jones CDX North America                 
  High Yield Index Series 10 Class V1  5.00%  Deutsche Bank AG    June 2014  USD 470  $ (45,710) 

EUR

GBP MXN USD

Euro

British Pound Mexican Peso US Dollar

  		• Effective November 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various
     
  		• are used in determining the fair value of investments, which are as follows:
     
  		• Level 1 - price quotations in active markets/exchanges for identical securities
     
  		• Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are 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 Trust's own assumptions used in determining the fair value of investments)
      The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust's policy regarding valuation of investments and other significant accounting policies, please refer to the Trust's most recent financial statements as contained in its semi-annual report.

    17

    BlackRock Floating Rate Income Trust     
    Schedule of Investments July 31, 2009 (Unaudited)     
                   The following table summarizes the inputs used as of July 31, 2009 in determining the fair valuation of the 
                   Trust's investments:         
                   Valuation          Investments in 
                   Inputs          Securities 
                       Assets 
                   Level 1           
                       Long-Term Investments:         
      Common Stocks1      $ 51,850 
                       Short-Term Securities        2,700,766 
                   Total Level 1        2,752,616 
                   Level 2           
                       Long-Term Investments:         
      Corporate Bonds        69,787,623 
      Floating Rate Loan Interests      182,687,628 
      Foreign Government Obligations    13,064,551 
      Common Stocks         
                       Commercial Services and Supplies  2,770 
                       Paper & Forest Products    57,983 
      Preferred Stocks        25,000 
      Other Interests        434,273 
                   Total Level 2        266,059,828 
                   Level 3           
                       Long-Term Investments:         
      Corporate Bonds        536,702 
      Floating Rate Loan Interests      105,484,408 
      Common Stocks         
                       Chemicals        946 
                       Construction & Engineering    76,388 
                       Metals & Mining      12,203 
      Other Interests        191 
                   Total Level 3        106,110,838 
                   Total        $ 374,923,282 
                   1 See above Schedule of Investments for values in each industry excluding the industries in Level 2 and 
                   Level 3 within the table.         
        Other Financial     
        Instruments2     
      Assets  Liabilities   
                   Level 1                     $ 26,000    -   
                   Level 2    9,683  $ (1,537,840)   
                   Level 3    -    (866,873)   
                   Total                     $ 35,683  $ (2,404,713)   
                   2 Other financial instruments are swaps, foreign currency exchange contracts and options. Swaps and foreign currency 
                   exchange contracts are valued at the unrealized appreciation/depreciation on the instrument and options are shown at 
                   market value.         
            18   

    BlackRock Floating Rate Income Trust           
    Schedule of Investments July 31, 2009 (Unaudited)         
                   The following is a reconciliation of investments for unobservable inputs (Level 3) used in determining fair value: 
                   Investments in Securities       
        Corporate  Floating Rate  Common  Other   
        Bonds  Loan Interests  Stocks  Interests  Total 
                   Balance, as of October 31, 2008    -  $ 119,861,911  -  $ 318  $ 119,862,229 
                   Accrued discounts/premiums    -  -  -  -  - 
                   Realized gain (loss)    -  (16,266,870)  -  -  (16,266,870) 
                   Change in unrealized appreciation             
    -
                   (depreciation)      22,347,356  $ 946  (127)  22,348,175 
                   Net purchases (sales)    -  (32,603,300)  -  -  (32,603,300) 
                   Net transfers in/out of Level 3  $ 536,702  12,145,311  88,591  -  12,770,604 
                   Balance, as of July 31, 2009  $ 536,702  $ 105,484,408  $ 89,537  $ 191  $ 106,110,838 
                 The following is a reconciliation of investments for unobservable inputs (Level 3) used in determining fair value: 
          Other Financial     
          Instruments3     
          Liabilities     
                 Balance, as of Ocober 31, 2008      $ (543,254)     
                 Accrued discounts/premiums        -     
                 Realized gain (loss)        -     
                 Change in unrealized appreciation (depreciation)    (323,619)     
                 Net purchases (sales)        -     
                 Net transfers in/out of Level 3        -     
                 Balance, as of July 31, 2009      $ (866,873)     
                   3 Other financial instruments are swaps which are shown at the unrealized appreciation/depreciation on the instrument. 
                                           19         

    Item 2 – Controls and Procedures

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

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

    Item 3 – Exhibits

    Certifications – Attached hereto

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

    BlackRock Floating Rate Income Trust

    By: /s/ Anne F. Ackerley
    Anne F. Ackerley
    Chief Executive Officer of
    BlackRock Floating Rate Income Trust

    Date: September 22, 2009

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

    By: /s/ Anne F. Ackerley
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock Floating Rate Income Trust

    Date: September 22, 2009

    By: /s/ Neal J. Andrews
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Floating Rate Income Trust

    Date: September 22, 2009