UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number: 811-23218

Name of Fund: BlackRock 2022 Global Income Opportunity Trust (BGIO)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock 2022 Global Income Opportunity Trust, 55 East 52^nd Street, New York, NY 10055

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

Date of fiscal year end: 12/31/2021

Date of reporting period: 06/30/2021

Item 1 – Report to Stockholders

(a) The Report to Shareholders is attached herewith.

JUNE 30, 2021

2021 Semi-Annual Report

(Unaudited)

BlackRock 2022 Global Income Opportunity Trust (BGIO)

BlackRock Income Trust, Inc. (BKT)

Not FDIC Insured • May Lose Value • No Bank Guarantee

Supplemental Information  (unaudited)

Section 19(a) Notices

BlackRock 2022 Global Income Opportunity Trust’s (BGIO) and BlackRock Income Trust, Inc.’s (BKT) (collectively the “Trusts”, or individually a “Trust”) amounts and sources of distributions reported are estimates and are being provided pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each Trust’s investment experience during the year and may be subject to changes based on tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report these distributions for federal income tax purposes.

June 30, 2021

	Total Cumulative Distributions for the Fiscal Period										% Breakdown of the Total Cumulative Distributions for the Fiscal Period
Trust Name	Net Income		Net Realized Capital Gains Short-Term		Net Realized Capital Gains Long-Term		Return of Capital(a)		Total Per Common Share		Net Income			Net Realized Capital Gains Short-Term			Net Realized Capital Gains Long-Term			Return of Capital			Total Per Common Share
BGIO	$	0.187595	$	—	$	—	$	0.062405	$	0.250000		75	%		—	%		—	%		25	%		100	%
BKT		0.146746		—		—		0.025254		0.172000		85			—			—			15			100

^(a)  Each Trust estimates that it has distributed more than its net income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment in a Trust is returned to the shareholder. A return of capital does not necessarily reflect a Trust’s investment performance and should not be confused with “yield” or “income.” When distributions exceed total return performance, the difference will reduce a Trust’s net asset value per share.

Section 19(a) notices for the Trusts, as applicable, are available on the BlackRock website at blackrock.com.

Managed Distribution Plan

BKT, with the approval of BKT’s Board of Directors (the “Board”), adopted a managed distribution plan, consistent with its investment objectives and policies, to support a level distribution of income, capital gains and/or return of capital (the “Plan”). In accordance with the Plan, BKT currently distributes a fixed amount of $.0344 per share on a monthly basis.

The fixed amount distributed per share is subject to change at the discretion of the Board. BKT is currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). Under its Plan, BKT will distribute all available investment income to its shareholders as required by the Internal Revenue Code of 1986, as amended (the “Code”). If sufficient income (inclusive of net investment income and short-term capital gains) is not earned on a monthly basis, BKT will distribute long-term capital gains and/or return of capital to shareholders in order to maintain a level distribution. Each monthly distribution to shareholders is expected to be at the fixed amount established by the Board; however, BKT may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the 1940 Act.

Shareholders should not draw any conclusions about BKT’s investment performance from the amount of these distributions or from the terms of the Plan. BKT’s total return performance is presented in its financial highlights table.

The Board may amend, suspend or terminate the Plan at any time without prior notice to BKT’s shareholders if it deems such actions to be in the best interests of BKT or its shareholders. The suspension or termination of the Plan could have the effect of creating a trading discount (if BKT’s stock is trading at or above net asset value) or widening an existing trading discount. BKT is subject to risks that could have an adverse impact on its ability to maintain level distributions. Examples of potential risks include, but are not limited to, economic downturns impacting the markets, changes in interest rates, decreased market volatility, companies suspending or decreasing corporate dividend distributions and changes in the Code.

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The Markets in Review

Dear Shareholder,

The 12-month reporting period as of June 30, 2021 was a remarkable period of adaptation and recovery, as the global economy dealt with the implications of the coronavirus (or “COVID-19”) pandemic. The United States, along with most of the world, began the reporting period emerging from a severe recession, prompted by pandemic-related restrictions that disrupted many aspects of daily life. However, easing restrictions and robust government intervention led to a strong rebound, and the economy grew at a significant pace for the reporting period, recovering much of the output lost at the beginning of the pandemic.

Equity prices rose with the broader economy, as investors became increasingly optimistic about the economic outlook. Stocks rose through the summer of 2020, fed by strong fiscal and monetary support and positive economic indicators. The implementation of mass vaccination campaigns and passage of an additional $1.9 trillion of fiscal stimulus further boosted stocks, and many equity indices neared or surpassed all-time highs late in the reporting period. In the United States, both large- and small-capitalization stocks posted a significant advance. International equities also gained, as both developed countries and emerging markets rebounded substantially.

The 10-year U.S. Treasury yield (which is inversely related to bond prices) had fallen sharply prior to the beginning of the reporting period, which meant bonds were priced for extreme risk avoidance and economic disruption. Despite expectations of doom and gloom, the economy expanded rapidly, stoking inflation concerns in early 2021, which led to higher yields and a negative overall return for most U.S. Treasuries. In the corporate bond market, support from the U.S. Federal Reserve (the “Fed”) assuaged credit concerns and led to substantial returns for high-yield corporate bonds, although investment-grade corporates declined slightly.

The Fed remained committed to accommodative monetary policy by maintaining near zero interest rates and by reiterating that inflation could exceed its 2% target for a sustained period without triggering a rate increase. Late in the period the Fed elaborated on their expected timeline, raising the likelihood of slower bond purchasing and the possibility of higher rates in 2023.

Looking ahead, while coronavirus-related disruptions have clearly hindered worldwide economic growth, we believe that the global expansion will continue to accelerate as vaccination efforts ramp up and pent-up consumer demand leads to higher spending. While we expect inflation to increase somewhat as the expansion continues, we believe the recent uptick owes more to temporary supply disruptions than a lasting change in fundamentals. The change in Fed policy also means that moderate inflation is less likely to be followed by interest rate hikes that could threaten the economic expansion.

Overall, we favor a moderately positive stance toward risk, with an overweight in equities. Sectors that are better poised to manage the transition to a lower-carbon world, such as technology and healthcare, are particularly attractive in the long-term. U.S. small-caps and European equities are likely to benefit from the continuing vaccine-led restart. We are underweight long-term on credit, but inflation-protected U.S. Treasuries, Asian fixed income, and Chinese government bonds offer potential opportunities. We believe that international diversification and a focus on sustainability can help provide portfolio resilience, and the disruption created by the coronavirus appears to be accelerating the shift toward sustainable investments.

In this environment, our view is that investors need to think globally, extend their scope across a broad array of asset classes, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit blackrock.com for further insight about investing in today’s markets.

Sincerely,

Rob Kapito

President, BlackRock Advisors, LLC

Rob Kapito

President, BlackRock Advisors, LLC

Total Returns as of June 30, 2021
	6-Month	12-Month
U.S. large cap equities (S&P 500® Index)	15.25%	40.79%
U.S. small cap equities (Russell 2000® Index)	17.54	62.03
International equities (MSCI Europe, Australasia, Far East Index)	8.83	32.35
Emerging market equities (MSCI Emerging Markets Index)	7.45	40.90
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)	0.02	0.09
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)	(4.10)	(5.89)
U.S. investment grade bonds (Bloomberg Barclays U.S. Aggregate Bond Index)	(1.60)	(0.33)
Tax-exempt municipal bonds (S&P Municipal Bond Index)	1.24	4.20
U.S. high yield bonds (Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Index)	3.61	15.34
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

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Table of Contents

	Page
Supplemental Information		2
The Markets in Review		3
Semi-Annual Report:
The Benefits and Risks of Leveraging		5
Derivative Financial Instruments		5
Trust Summary		6
Financial Statements:
Schedules of Investments		12
Statements of Assets and Liabilities		35
Statements of Operations		36
Statements of Changes in Net Assets		37
Statements of Cash Flows		38
Financial Highlights		40
Notes to Financial Statements		43
Disclosure of Investment Advisory Agreements and Sub-Advisory Agreements		55
Additional Information		59
Glossary of Terms Used in this Report		62

4

The Benefits and Risks of Leveraging

The Trusts may utilize leverage to seek to enhance the distribution rate on, and net asset value (“NAV”) of, their common shares (“Common Shares”). However, there is no guarantee that these objectives can be achieved in all interest rate environments.

In general, the concept of leveraging is based on the premise that the financing cost of leverage, which is based on short-term interest rates, is normally lower than the income earned by a Trust on its longer-term portfolio investments purchased with the proceeds from leverage. To the extent that the total assets of each Trust (including the assets obtained from leverage) are invested in higher-yielding portfolio investments, each Trust’s shareholders benefit from the incremental net income. The interest earned on securities purchased with the proceeds from leverage (after paying the leverage costs) is paid to shareholders in the form of dividends, and the value of these portfolio holdings (less the leverage liability) is reflected in the per share NAV.

To illustrate these concepts, assume a Trust’s capitalization is $100 million and it utilizes leverage for an additional $30 million, creating a total value of $130 million available for investment in longer-term income securities. If prevailing short-term interest rates are 3% and longer-term interest rates are 6%, the yield curve has a strongly positive slope. In this case, a Trust’s financing costs on the $30 million of proceeds obtained from leverage are based on the lower short-term interest rates. At the same time, the securities purchased by a Trust with the proceeds from leverage earn income based on longer-term interest rates. In this case, a Trust’s financing cost of leverage is significantly lower than the income earned on a Trust’s longer-term investments acquired from such leverage proceeds, and therefore the holders of Common Shares (“Common Shareholders”) are the beneficiaries of the incremental net income.

However, in order to benefit shareholders, the return on assets purchased with leverage proceeds must exceed the ongoing costs associated with the leverage. If interest and other costs of leverage exceed a Trust’s return on assets purchased with leverage proceeds, income to shareholders is lower than if a Trust had not used leverage. Furthermore, the value of the Trusts’ portfolio investments generally varies inversely with the direction of long-term interest rates, although other factors can influence the value of portfolio investments. In contrast, the amount of each Trust’s obligations under its leverage arrangement generally does not fluctuate in relation to interest rates. As a result, changes in interest rates can influence the Trusts’ NAVs positively or negatively. Changes in the future direction of interest rates are very difficult to predict accurately, and there is no assurance that a Trust’s intended leveraging strategy will be successful.

The use of leverage also generally causes greater changes in each Trust’s NAV, market price and dividend rates than comparable portfolios without leverage. In a declining market, leverage is likely to cause a greater decline in the NAV and market price of a Trust’s shares than if the Trust were not leveraged. In addition, each Trust may be required to sell portfolio securities at inopportune times or at distressed values in order to comply with regulatory requirements applicable to the use of leverage or as required by the terms of leverage instruments, which may cause the Trust to incur losses. The use of leverage may limit a Trust’s ability to invest in certain types of securities or use certain types of hedging strategies. Each Trust incurs expenses in connection with the use of leverage, all of which are borne by shareholders and may reduce income to the shareholders. Moreover, to the extent the calculation of each Trust’s investment advisory fees includes assets purchased with the proceeds of leverage, the investment advisory fees payable to each Trust’s investment adviser will be higher than if the Trusts did not use leverage.

Each Trust may utilize leverage through reverse repurchase agreements as described in the Notes to Financial Statements, if applicable.

Under the Investment Company Act of 1940, as amended (the “1940 Act”), each Trust is permitted to issue debt up to 33 1/3% of its total managed assets. A Trust may voluntarily elect to limit its leverage to less than the maximum amount permitted under the 1940 Act.

If a Trust segregates or designates on its books and records cash or liquid assets having a value not less than the value of a Trust’s obligations under a reverse repurchase agreement (including accrued interest) then such transaction is not considered a senior security and is not subject to the foregoing limitations and requirements imposed by the 1940 Act.

Derivative Financial Instruments

The Trusts may invest in various derivative financial instruments. These instruments are used to obtain exposure to a security, commodity, index, market, and/or other assets without owning or taking physical custody of securities, commodities and/or other referenced assets or to manage market, equity, credit, interest rate, foreign currency exchange rate, commodity and/or other risks. Derivative financial instruments may give rise to a form of economic leverage and involve risks, including the imperfect correlation between the value of a derivative financial instrument and the underlying asset, possible default of the counterparty to the transaction or illiquidity of the instrument. The Trusts’ successful use of a derivative financial instrument depends on the investment adviser’s ability to predict pertinent market movements accurately, which cannot be assured. The use of these instruments may result in losses greater than if they had not been used, may limit the amount of appreciation a Trust can realize on an investment and/or may result in lower distributions paid to shareholders. The Trusts’ investments in these instruments, if any, are discussed in detail in the Notes to Financial Statements.

T H E    B E N E F I T S    A N D     R I S K S    O F    L E V E R A G I N G    /    D  E R I V A T I V E    F I N A N C I A L    I N S T R U M  E N T S 5

Trust Summary  as of June 30, 2021  BlackRock 2022 Global Income Opportunity Trust (BGIO)

Investment Objective

BlackRock 2022 Global Income Opportunity Trust’s (BGIO) (the “Trust”) investment objective is to seek to distribute a high level of current income and to earn a total return, based on the net asset value of the Trust’s common shares of beneficial interest, that exceeds the return on the Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index by 500 basis points (or 5.00%) on an annualized basis over the life of the Trust, under normal market conditions. The Trust will terminate on or about February 28, 2022.

No assurance can be given that the Trust’s investment objective will be achieved. Risks relating to the Trust’s investment objective are described in further detail in the Notes to Financial Statements.

On June 9, 2021, the Board approved the adoption of a Plan of Liquidation in accordance with BGIO’s strategy of terminating on or before February 28, 2022. Under the Plan of Liquidation which was effective on June 30, 2021, BGIO will begin the process of liquidating portfolio assets and unwinding its affairs. The Trust expects to make periodic liquidating distributions to shareholders pursuant to the Plan of Liquidation in advance of its termination and make a final liquidating distribution on or around December 31, 2021.

Trust Information

Symbol on New York Stock Exchange	BGIO
Initial Offering Date	February 27, 2017
Termination Date (on or about)	February 28, 2022
Current Distribution Rate on Closing Market Price as of June 30, 2021 ($9.28)(a)	6.47%
Current Monthly Distribution per Common Share(b)	$ 0.0500
Current Annualized Distribution per Common Share(b)	$ 0.6000

^(a)  Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results.

^(b)  The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain.

Market Price and Net Asset Value Per Share Summary

	06/30/21		12/31/20		Change			High		Low
Market Price	$	9.28	$	9.04		2.65	%	$	9.44	$	8.94
Net Asset Value		9.23		9.19		0.44			9.36		9.18

Market Price and Net Asset Value History Since Inception

The Trust commenced operations on February 27, 2017.

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Trust Summary  as of June 30, 2021 (continued) BlackRock 2022 Global Income Opportunity Trust (BGIO)

Performance and Portfolio Management Commentary

Returns for the period ended June 30, 2021 were as follows:

				Average Annual Total Returns
	6-month			1 Year			3 Years			Since Inception(a)
Trust at NAV(b)(c)		3.19	%		15.53	%		6.08	%		5.10	%
Trust at Market Price(b)(c)		5.46			18.80			8.25			4.87
Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index(d)		0.02			0.07			1.27			1.22

^(a)  The Trust commenced operations on February 27, 2017.

^(b)  All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices.

^(c)  The Trust moved from a discount to NAV to a premium during the period, which accounts for the difference between performance based on market price and performance based on NAV.

^(d)  An unmanaged index that tracks the market for treasury bills used by the U.S. government that have a maturity of more than 1 month and less than 3 months, are rated investment grade and have a minimum $300 million par amount outstanding.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. Past performance is not an indication of future results.

The Trust’s investment objective is, in part, to earn a total return that exceeds the return on the Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index (the “Index”) by 500 basis points (or 5.00%) on an annualized basis over the life of the Trust, under normal market conditions. The Trust’s investment policies do not contemplate any meaningful amount of investment in securities that comprise the Index under normal market conditions; rather, the Trust uses the Index as a proxy for a risk-free rate of return that its investment objective seeks to exceed. Because the achievement of the Trust’s investment objective is measured on an annualized basis over the life of the Trust, the Trust’s performance may be more or less than the spread over the Index contained in the Trust’s investment objective during individual annual periods or for any period of time shorter than the life of the Trust. The Board considers certain factors to evaluate the Trust’s performance, such as the performance of the Trust relative to its investment objective and/or other information provided by BlackRock Advisors, LLC (the “Manager”).

More information about the Trust’s historical performance can be found in the “Closed End Funds” section of blackrock.com.

The following discussion relates to the Trust’s absolute performance based on NAV:

What factors influenced performance?

Over the period, the largest contributors to the Trust’s performance were exposures to securitized assets, including collateralized loan obligations (“CLOs”), commercial mortgage-backed securities (“CMBS”) and non-agency residential mortgage-backed securities (“RMBS”). Allocations to high yield corporate credit and emerging market debt also added to performance.

The Trust’s stance with respect to duration (and corresponding interest rate sensitivity) detracted slightly from performance over the period.

Describe recent portfolio activity.

As the Trust entered the final year of its term, the investment adviser actively sought opportunities to wind down the portfolio. Over the period, the Trust primarily reduced exposures in U.S. high yield corporate credit and emerging market debt, in names where valuations were relatively high. The Trust also marginally reduced positions in CMBS and CLOs while remaining constructive regarding these sectors. In addition, the Trust continued to trim duration given diminished hedging benefit from domestic rates exposure.

The Trust used derivatives primarily in the form of Treasury futures during the period to manage duration and yield curve exposure. The Trust’s use of derivatives had a negative impact on Trust performance.

Describe portfolio positioning at period end.

At the end of the period, the Trust continued to maintain diversified exposure across fixed income sectors, including emerging market securities, CMBS, RMBS, CLOs and high yield corporate bonds. As of June 30, 2021, the Trust’s portfolio had an effective duration of one year, with all-in yields around 3.8%.

As a result of the Trust’s liquidation plan, the portfolio ended the period with a cash position of 12%. The Fund’s cash position had no material impact on Fund performance for the period.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

T R U S T    S U M M A R Y 7

Trust Summary  as of June 30, 2021 (continued) BlackRock 2022 Global Income Opportunity Trust (BGIO)

Overview of the Trust’s Total Investments

PORTFOLIO ALLOCATION

Asset Type(a)	06/30/21			12/31/20
Corporate Bonds		46	%		53	%
Asset-Backed Securities		16			14
Non-Agency Mortgage-Backed Securities		15			13
Floating Rate Loan Interests		11			10
Foreign Agency Obligations		5			5
Preferred Securities		5			4
Common Stocks		1			—
U.S. Government Sponsored Agency Securities		1			1
Warrants(b)		—			—

CREDIT QUALITY ALLOCATION

Credit Rating(c)(d)	06/30/21			12/31/20
AAA/Aaa(e)		1	%		—	%
AA/Aa		1			1
A		1			3
BBB/Baa		18			21
BB/Ba		28			30
B		22			20
CCC/Caa		5			6
CC		2			2
C		2			—
D		—			—	(b)
N/R		20			17

^(a)  Excludes short-term securities, options purchased and options written.

^(b)  Represents less than 1% of the Trust’s total investments.

^(c)  For financial reporting purposes, credit quality ratings shown above reflect the highest rating assigned by either S&P Global Ratings or Moody’s Investors Service, Inc. if ratings differ. These rating agencies are independent, nationally recognized statistical rating organizations and are widely used. Investment grade ratings are credit ratings of BBB/Baa or higher. Below investment grade ratings are credit ratings of BB/Ba or lower. Investments designated N/R are not rated by either rating agency. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.

^(d)  Excludes common stocks, warrants, short-term securities, options purchased and options written.

^(e)  The investment adviser evaluates the credit quality of not-rated investments based upon certain factors including, but not limited to, credit ratings for similar investments and financial analysis of sectors, individual investments and/or issuer. Using this approach, the investment adviser has deemed U.S. Government Sponsored Agency Securities and U.S. Treasury Obligations as AAA/Aaa.

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Trust Summary  as of June 30, 2021  BlackRock Income Trust, Inc. (BKT)

Investment Objective

BlackRock Income Trust, Inc.’s (BKT) (the “Trust”) investment objective is to manage a portfolio of high-quality securities to achieve both preservation of capital and high monthly income. The Trust seeks to achieve its investment objective by investing at least 65% of its assets in mortgage-backed securities. The Trust invests at least 80% of its assets in securities that are (i) issued or guaranteed by the U.S. government or one of its agencies or instrumentalities or (ii) rated at the time of investment either AAA by S&P Global Ratings or Aaa by Moody’s Investors Service, Inc. The Trust may invest directly in such securities or synthetically through the use of derivatives.

No assurance can be given that the Trust’s investment objective will be achieved.

Trust Information

Symbol on New York Stock Exchange	BKT
Initial Offering Date	July 22, 1988
Current Distribution Rate on Closing Market Price as of June 30, 2021 ($6.34)(a)	6.51%
Current Monthly Distribution per Common Share(b)	$ 0.0344
Current Annualized Distribution per Common Share(b)	$ 0.4128
Leverage as of June 30, 2021(c)	24%

^(a)  Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results.

^(b)  The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain.

^(c)  Represents reverse repurchase agreements as a percentage of total managed assets, which is the total assets of the Trust (including any assets attributable to any borrowings) minus the sum of its liabilities (other than borrowings representing financial leverage). Does not reflect derivatives or other instruments that may give rise to economic leverage. For a discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging and Derivative Financial Instruments.

Market Price and Net Asset Value Per Share Summary

	06/30/21		12/31/20		Change			High		Low
Market Price	$	6.34	$	6.07		4.45	%	$	6.48	$	6.00
Net Asset Value		5.99		6.18		(3.07	)		6.22		5.99

Market Price and Net Asset Value History for the Past Five Years

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Trust Summary  as of June 30, 2021 (continued) BlackRock Income Trust, Inc. (BKT)

Performance and Portfolio Management Commentary

Returns for the period ended June 30, 2021 were as follows:

				Average Annual Total Returns
	6-month			1 Year			3 Years			5 Years
Trust at NAV(a)(b)		(0.31	)%		1.38	%		4.97	%		3.05	%
Trust at Market Price(a)(b)		7.43			9.92			10.07			5.37
FTSE Mortgage Index(c)		(0.88	)		(0.47	)		3.91			2.33

^(a)  All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Trust’s use of leverage.

^(b)  The Trust moved from a discount to NAV to a premium during the period, which accounts for the difference between performance based on market price and performance based on NAV.

^(c)  This unmanaged index (formerly known as Citigroup Mortgage Index) (the “Reference Benchmark”) includes all outstanding government sponsored fixed rate mortgage-backed securities, weighted in proportion to their current market capitalization.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. Past performance is not an indication of future results.

BKT is presenting the Reference Benchmark to accompany Trust performance. The Reference Benchmark is presented for informational purposes only, as the Trust is actively managed and does not seek to track or replicate the performance of the Reference Benchmark or any other index. The portfolio investments of the Trust may differ substantially from the securities that comprise the indices within the Reference Benchmark, which may cause the Trust’s performance to differ materially from that of the Reference Benchmark. The Trust employs leverage as part of its investment strategy, which may change over time at the discretion of the Manager as market and other conditions warrant. In contrast, the Reference Benchmark is not adjusted for leverage. Therefore, leverage generally may result in the Trust outperforming the Reference Benchmark in rising markets and underperforming in declining markets. The Board considers additional factors to evaluate the Trust’s performance, such as the performance of the Trust relative to a peer group of funds, a leverage-adjusted benchmark and/or other information provided by the Manager.

More information about the Trust’s historical performance can be found in the “Closed End Funds” section of blackrock.com.

The following discussion relates to the Trust’s absolute performance based on NAV:

What factors influenced performance?

The largest contributor to the Trust’s return during the six-month period came from its heavy allocation to well-structured agency collateralized mortgage obligations (“CMOs”). The portfolio’s allocation to conventional pass-through agency MBS also contributed to Trust performance. More specifically, the fund’s selection of call-protected specified pools outperformed generic seasoned collateral in the high coupon cohorts. Trust performance also benefited from its modest allocation to agency commercial mortgage-backed security (“CMBS”) interest-only exposures, which served to enhance income.

The largest detractors from the Trust’s return included its allocation to agency MBS derivatives including interest-only and inverse interest-only positions, which experienced a widening in risk premia in the second quarter of 2021. The Trust’s positioning on the MBS coupon stack also detracted from overall return, where its relative overweight to higher coupon MBS lagged the performance of lower coupons year-to-date.

The Trust held derivatives during the period as a part of its investment strategy. Derivatives are utilized by the Trust in order to manage risk and/or take outright views on interest rates in the portfolio. In particular, the portfolio employed Treasury futures and interest rate swaps to manage duration and yield curve bias. The Trust’s interest rate derivatives positions contributed positively to performance during the six-month period.

Describe recent portfolio activity.

During the six-month period, the trust marginally increased its allocation to agency CMOs, agency MBS derivatives, and agency CMBS interest-only securities. The trust also increased its exposure to lower coupon MBS in the form of “to-be-announced” securities (“TBAs”).

Describe portfolio positioning at period end.

The Trust continues to maintain an overweight in well-structured agency CMOs and agency MBS interest-only derivatives, with a focus on structures collateralized by call protected and seasoned collateral that demonstrates more favorable prepayment characteristics. Within its allocation to agency MBS pass-throughs, the Trust holds an overweight in higher coupon MBS, motivated by higher income and an outlook for prepayment speed fatigue on the higher coupon borrower set. The Trust also holds exposure to lower coupon MBS as a hedge against prepayment risk, primarily in the form of TBAs. The Trust is positioned marginally long convexity (i.e., the rate at which duration changes in response to interest rate movements) relative to the benchmark, primarily through its allocation to agency CMOs and call-protected specified pools.

The Trust held only marginal positions in other securitized assets such as legacy (pre-financial crisis) non-agency residential MBS and CMBS, preferring to isolate prepayment and structural characteristics in higher quality agency-backed assets rather than seek credit exposure.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

10 2 0 2 1    B L A C K R O  C K    S E M I - A N N U A L    R E P O R T    T O     S H A R E H O L D E R S

Trust Summary  as of June 30, 2021 (continued) BlackRock Income Trust, Inc. (BKT)

Overview of the Trust’s Total Investments

PORTFOLIO ALLOCATION

Asset Type(a)	06/30/21			12/31/20
U.S. Government Sponsored Agency Securities		97	%		97	%
Non-Agency Mortgage-Backed Securities		3			3
Asset-Backed Securities		—	(b)		—	(b)

CREDIT QUALITY ALLOCATION

Credit Rating(a)(c)	06/30/21			12/31/20
AAA/Aaa(d)		97	%		98	%
AA/Aa		3			2
CCC/Caa		—			—	(b)
N/R		—			—	(b)

^(a)  Excludes short-term securities, borrowed bonds and TBA sales commitments.

^(b)  Rounds to less than 1% of total investments.

^(c)  For financial reporting purposes, credit quality ratings shown above reflect the highest rating assigned by either S&P Global Ratings or Moody’s Investors Service, Inc. if ratings differ. These rating agencies are independent, nationally recognized statistical rating organizations and are widely used. Investment grade ratings are credit ratings of BBB/Baa or higher. Below investment grade ratings are credit ratings of BB/Ba or lower. Investments designated N/R are not rated by either rating agency. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.

^(d)  The investment adviser evaluates the credit quality of not-rated investments based upon certain factors including, but not limited to, credit ratings for similar investments and financial analysis of sectors, individual investments and/or issuer. Using this approach, the investment adviser has deemed U.S. Government Sponsored Agency Securities and U.S. Treasury Obligations as AAA/Aaa.

T R U S T    S U M M A R Y 11

Schedule of Investments  (unaudited)  June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Asset-Backed Securities
Cayman Islands(b)(c) — 0.6%
CarVal CLO II Ltd., Series 2019-1A, Class DR, (3 mo. LIBOR US + 3.20%), 3.39%, 04/20/32(a)		USD    250	$	250,975
Cedar Funding VI CLO Ltd., (3 mo. LIBOR US + 3.31%), 3.50%, 04/20/34		1,000		1,007,407
				1,258,382
United States — 12.9%
ALM VII R-2 Ltd., Series 2013-7R2A, Class CR2, (3 mo. LIBOR US + 3.00%), 3.18%, 10/15/27(b)(c)		500		500,019
Anchorage Capital CLO Ltd., Series 2014-4RA, Class D, (3 mo. LIBOR US + 2.60%), 2.78%, 01/28/31(b)(c)		1,000		974,581
Apidos CLO XVIII, Series 2018-18A, Class E, (3 mo. LIBOR US + 5.70%), 5.88%, 10/22/30(b)(c)		1,000		952,625
Apidos CLO XXI, Series 2015-21A, Class DR, (3 mo. LIBOR US + 5.20%), 5.39%, 07/18/27(b)(c)		500		492,602
Ares XXXVII CLO Ltd., Series 2015-4A, Class DR, (3 mo. LIBOR US + 6.15%), 6.33%, 10/15/30(b)(c)		250		244,760
CarVal CLO III Ltd., Series 2019-2A, Class E, (3 mo. LIBOR US + 6.44%), 6.63%, 07/20/32(b)(c)		300		301,796
Conseco Finance Corp., Series 2001-D, Class B1, (1 mo. LIBOR US + 2.50%), 2.57%, 11/15/32(b)		660		607,045
Conseco Finance Securitizations Corp., Series 2002-1, Class M2, 9.55%, 12/01/33(b)		2,500		2,532,588
Credit-Based Asset Servicing & Securitization LLC, Series 2006-MH1, Class B1, 6.25%, 10/25/36(c)		1,000		1,027,795
CWABS Asset-Backed Certificates Trust, Series 2005-17, Class 1AF4, 6.05%, 05/25/36		467		469,651
Deutsche Financial Capital Securitization LLC, Series 1998-I, Class M, 6.80%, 04/15/28		441		451,957
Elmwood CLO III Ltd., Series 2019-3A, Class E, (3 mo. LIBOR US + 7.00%), 7.18%, 10/15/32(b)(c)		550		550,709
First Franklin Mortgage Loan Trust, Series 2006-FF16, Class 2A3, (1 mo. LIBOR US + 0.14%), 0.23%, 12/25/36(b)		551		318,178
Galaxy XXIX CLO Ltd., Series 2018-29A, Class D, (3 mo. LIBOR US + 2.40%), 2.56%, 11/15/26(b)(c)		750		749,337
GoldenTree Loan Opportunities IX Ltd., Series 2014-9A, Class ER2, (3 mo. LIBOR US + 5.66%), 5.84%, 10/29/29(b)(c)		500		486,235
Lehman ABS Manufactured Housing Contract Trust, Series 2002-A, Class C, 0.00%, 06/15/33		1,524		1,376,316
Long Beach Mortgage Loan Trust(b)
Series 2006-5, Class 2A3, (1 mo. LIBOR US + 0.30%), 0.39%, 06/25/36		950		591,940
Series 2006-7, Class 2A3, (1 mo. LIBOR US + 0.16%), 0.25%, 08/25/36		1,502		804,043
Series 2006-7, Class 2A4, (1 mo. LIBOR US + 0.24%), 0.33%, 08/25/36		1,502		815,755
Series 2006-9, Class 2A3, (1 mo. LIBOR US + 0.16%), 0.25%, 10/25/36		1,369		588,211
Madison Park Funding X Ltd., Series 2012-10A, Class DR2, (3 mo. LIBOR US + 3.25%), 3.44%, 01/20/29(b)(c)		550		550,138
Madison Park Funding XVI Ltd., Series 2015-16A, Class C, (3 mo. LIBOR US + 3.70%), 3.89%, 04/20/26(b)(c)		1,000		999,995

Security	Par (000)		Value
United States (continued)
Madison Park Funding XXX Ltd., Series 2018-30X, Class E, 5.13%, 04/15/29		USD    250	$	242,328
Merrill Lynch Mortgage Investors Trust, Series 2006- OPT1, Class M1, (1 mo. LIBOR US + 0.26%), 0.35%, 08/25/37(b)		1,529		1,262,650
Nationstar HECM Loan Trust, Series 2019-1A, Class M4, 5.80%, 06/25/29(b)(c)		750		750,639
Neuberger Berman CLO XV, Series 2013-15A, Class DR, (3 mo. LIBOR US + 3.05%), 3.23%, 10/15/29(b)(c)		1,000		1,000,097
OCP CLO Ltd., Series 2016-12A, Class CR, (3 mo. LIBOR US + 3.00%), 3.19%, 10/18/28(b)(c)		250		249,997
OZLM XIV Ltd., Series 2015-14A, Class CR, (3 mo. LIBOR US + 3.00%), 3.18%, 01/15/29(b)(c)		1,000		993,365
Palmer Square Loan Funding Ltd.(b)(c)
Series 2018-4A, Class C, (3 mo. LIBOR US + 2.55%), 2.71%, 11/15/26		1,800		1,800,976
Series 2019-2A, Class C, (3 mo. LIBOR US + 3.25%), 3.44%, 04/20/27.		1,100		1,100,273
Park Avenue Institutional Advisers CLO Ltd.,
Series 2016-1A, Class DR, (3 mo. LIBOR US + 5.85%), 6.00%, 08/23/31(b)(c)		500		485,534
Rockford Tower CLO Ltd., Series 2017-3A, Class D, (3 mo. LIBOR US + 2.65%), 2.84%, 10/20/30(b)(c)		420		414,919
Signal Peak CLO 7 Ltd., Series 2019-1A, Class E, (3 mo. LIBOR US + 6.89%), 7.08%, 04/30/32(b)(c)		250		250,845
TICP CLO V Ltd., Series 2016-5A, Class ER, (3 mo. LIBOR US + 5.75%), 5.94%, 07/17/31(b)(c)		250		242,678
TICP CLO XII Ltd., Series 2018-12A, Class E, (3 mo. LIBOR US + 5.50%), 5.68%, 01/15/31(b)(c)		1,000		996,129
TRESTLES CLO II Ltd., Series 2018-2A, Class D, (3 mo. LIBOR US + 5.75%), 5.93%, 07/25/31(b)(c)		250		242,864
				26,419,570
Total Asset-Backed Securities — 13.5% (Cost: $27,359,340)				27,677,952
	Shares
Common Stocks
United States — 0.9%
Bruin Purchaser LLC(a)		2,489		—	(d)
CA Resources Corp.		14,589		439,713
Caesars Entertainment, Inc.(e)		4,060		421,225
California Resources Corp.(e)		29,781		897,599
Chesapeake Energy Corp., (Acquired 02/10/21, Cost: $1,771)(f)		187		9,598
Pioneer Energy Services Corp.(a)		1,580		23,384
Service Properties Trust		3,000		37,800
Total Common Stocks — 0.9% (Cost: $1,477,641)				1,829,319

12 2 0 2 1    B L A C K R O  C K    S E M I - A N N U A L    R E P O R T    T O     S H A R E H O L D E R S

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Corporate Bonds
Argentina — 0.3%
Genneia SA, 8.75%, 01/20/22(c)		USD    347	$	335,896
Stoneway Capital Corp.(e)(g)
10.00%, 03/01/27(c)		955		258,056
10.00%, 03/01/27		338		91,445
				685,397
Australia — 0.1%
Santos Finance Ltd., 5.25%, 03/13/29		200		227,510
Austria — 0.1%
Klabin Austria GmbH, 3.20%, 01/12/31(c)		200		196,710
Bahrain — 0.1%
Oil and Gas Holding Co., 7.63%, 11/07/24		200		222,725
Bermuda — 0.2%
Star Energy Geothermal Darajat II/Star Energy
Geothermal Salak, 4.85%, 10/14/38(c)		340		373,745
Brazil — 1.4%
Gol Finance SA, 7.00%, 01/31/25(c)		600		574,200
Itau Unibanco Holding SA/Cayman Island, 5.13%, 05/13/23(c)		276		291,577
JBS USA LUX SA/JBS USA Food Co./JBS USA
Finance, Inc., 5.50%, 01/15/30(c)		31		34,670
Oi SA, (10.00% Cash or 8.00% Cash + 4.00% PIK), 10.00%, 07/27/25(h)		243		249,221
Petrobras Global Finance BV
5.30%, 01/27/25		630		707,293
6.00%, 01/27/28		212		243,204
5.60%, 01/03/31		395		440,918
Suzano Austria GmbH, 3.75%, 01/15/31		125		130,625
Vale Overseas Ltd., 3.75%, 07/08/30		180		191,430
				2,863,138
British Virgin Islands — 0.1%
New Metro Global Ltd., 4.80%, 12/15/24		200		201,038
Canada — 1.4%
1011778 BC ULC/New Red Finance, Inc., 3.88%, 01/15/28(c)		19		19,237
Bausch Health Cos., Inc., 4.88%, 06/01/28(c)		27		27,634
Brookfield Residential Properties, Inc./Brookfield Residential US LLC(c)
6.25%, 09/15/27		327		345,394
5.00%, 06/15/29		15		15,113
Hammerhead Resources, Inc., Series AI, (12.00% PIK), 9.00%, 07/10/22(a)		891		890,724
Mattamy Group Corp., 5.25%, 12/15/27(c)		12		12,540
NOVA Chemicals Corp., 5.25%, 06/01/27(c)		1,495		1,611,311
				2,921,953
Cayman Islands — 1.7%
Agile Group Holdings Ltd., (5 year CMT + 11.08%), 7.75%(b)(i)		300		303,244
Fantasia Holdings Group Co. Ltd., 9.88%, 10/19/23		200		162,725
Hilong Holding Ltd., 9.75%, 11/18/24		207		182,160
Kaisa Group Holdings Ltd.
11.95%, 11/12/23		200		204,600
11.70%, 11/11/25		200		188,058
Latam Finance Ltd., 6.88%, 04/11/24(c)(e)(g)		645		599,850
Melco Resorts Finance Ltd., 5.25%, 04/26/26		200		207,538

Security	Par (000)		Value
Cayman Islands (continued)
Oryx Funding Ltd., 5.80%, 02/03/31(c)		USD    200	$	210,750
Ronshine China Holdings Ltd., 5.50%, 02/01/22		200		195,496
Sable International Finance Ltd., 5.75%, 09/07/27		318		334,600
Shui On Development Holding Ltd., 5.50%, 03/03/25		200		202,250
Sunac China Holdings Ltd., 6.50%, 01/10/25		200		195,790
Times China Holdings Ltd., 6.75%, 07/08/25		250		253,562
UPCB Finance VII Ltd., 3.63%, 06/15/29		EUR    100		121,073
Zhenro Properties Group Ltd., 7.88%, 04/14/24		USD    200		199,600
				3,561,296
Chile(c) — 0.3%
Kenbourne Invest SA, 6.88%, 11/26/24		332		352,086
VTR Comunicaciones SpA, 5.13%, 01/15/28		178		185,396
				537,482
China — 2.8%
21Vianet Group, Inc., 7.88%, 10/15/21		200		199,850
CFLD Cayman Investment Ltd.(e)(g)
8.63%, 02/28/21		200		69,850
8.60%, 04/08/24		200		69,850
China Aoyuan Group Ltd., 6.35%, 02/08/24		200		188,000
China Evergrande Group, 11.50%, 01/22/23		200		158,975
China SCE Group Holdings Ltd., 7.25%, 04/19/23		200		205,413
CIFI Holdings Group Co. Ltd., 5.95%, 10/20/25		200		211,537
Country Garden Holdings Co. Ltd., 6.15%, 09/17/25		200		219,000
Easy Tactic Ltd.
9.13%, 07/28/22		200		197,975
8.63%, 02/27/24		200		176,725
Fantasia Holdings Group Co. Ltd., 11.75%, 04/17/22		200		187,700
Fortune Star BVI Ltd., 6.85%, 07/02/24		300		319,781
Health & Happiness H&H International Holdings Ltd., 5.63%, 10/24/24		200		206,100
Kaisa Group Holdings Ltd., 11.50%, 01/30/23		200		202,225
KWG Group Holdings Ltd., 7.40%, 03/05/24		200		208,600
Logan Group Co. Ltd., 6.50%, 07/16/23		200		204,600
Powerlong Real Estate Holdings Ltd., 7.13%, 11/08/22		200		207,500
Prime Bloom Holdings Ltd., 6.95%, 07/05/22		200		39,938
RKPF Overseas Ltd., Series 2020-A, 5.20%, 01/12/26		200		201,000
Ronshine China Holdings Ltd.
8.75%, 10/25/22		200		200,100
8.95%, 01/22/23		200		197,788
Scenery Journey Ltd., 11.50%, 10/24/22		435		348,054
Seazen Group Ltd., 6.00%, 08/12/24		200		207,500
Sunac China Holdings Ltd., 6.65%, 08/03/24		300		301,087
Wanda Group Overseas Ltd., 7.50%, 07/24/22		200		192,475
Yango Justice International Ltd., 8.25%, 11/25/23		200		193,600
Yanlord Land HK Co. Ltd., 6.80%, 02/27/24		200		209,725
Yuzhou Group Holdings Co. Ltd., 7.70%, 02/20/25		300		255,900
Zhejiang Baron BVI Co. Ltd., 6.80%, 08/27/21		200		198,600
				5,779,448
Colombia — 0.1%
Empresas Publicas de Medellin ESP, 4.25%, 07/18/29(c)		267		263,629
Denmark — 0.2%
Danske Bank A/S, (5 year EUR Swap + 1.40%), 1.00%, 05/15/31(b)		EUR    350		415,336

S C H E D U L E    O F    I N V E S T  M E N T S 13

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Dominican Republic — 0.4%
Aeropuertos Dominicanos Siglo XXI SA, 6.75%, 03/30/29(c)		USD    700	$	732,944
France — 2.5%
Altice France SA
2.50%, 01/15/25		EUR    200		233,555
2.13%, 02/15/25		100		115,521
AXA SA, (3 mo. LIBOR US + 3.88%), 5.13%, 01/17/47(b)		USD    550		625,989
BNP Paribas SA, (5 year USD Swap + 1.48%), 4.38%, 03/01/33(b)		800		884,000
CAB SELAS, 3.38%, 02/01/28		EUR    300		353,946
CMA CGM SA, 7.50%, 01/15/26		100		131,854
Credit Agricole Assurances SA, (5 year EURIBOR ICE
Swap Rate + 2.65%), 2.63%, 01/29/48(b)		400		507,147
Credit Agricole SA, (5 year USD Swap + 1.64%), 4.00%, 01/10/33(b)(c)		USD    450		488,588
Loxam SAS, 3.75%, 07/15/26		EUR    100		121,184
Orano SA, 2.75%, 03/08/28		100		123,792
Picard Groupe SAS, (3 mo. EURIBOR + 3.00%), 3.00%, 11/30/23(b)		100		118,466
Societe Generale SA, (5 year EUR Swap + 1.60%), 1.13%, 06/30/31(b)		400		474,015
TotalEnergies SE, Series NC12, (5 year EUR Swap + 2.51%), 2.13%(b)(i)		400		466,583
Veolia Environnement SA, (5 year EUR Swap + 2.84%), 2.50%(b)(i)		300		357,504
				5,002,144
Germany — 1.4%
Adler Group SA, 3.25%, 08/05/25.		200		244,653
Bayer AG, (5 year EUR Swap + 2.55%), 3.75%, 07/01/74(b)		150		187,867
DEMIRE Deutsche Mittelstand Real Estate AG, 1.88%, 10/15/24		100		115,504
Fraport AG Frankfurt Airport Services Worldwide, 1.88%, 03/31/28		175		217,135
IHO Verwaltungs GmbH, (3.63% Cash or 4.38% PIK), 3.63%, 05/15/25(h)		100		120,415
Merck KGaA, (5 year EURIBOR ICE Swap Rate + 2.94%), 2.88%, 06/25/79(b)		200		258,470
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24		200		236,500
Phoenix PIB Dutch Finance BV, 2.38%, 08/05/25		100		122,528
Summit Properties Ltd., 2.00%, 01/31/25		100		117,686
Techem Verwaltungsgesellschaft 674 mbH, 6.00%, 07/30/26		100		122,262
thyssenkrupp AG, 1.88%, 03/06/23		185		219,776
TK Elevator Midco GmbH
4.38%, 07/15/27		100		123,829
(3 mo. EURIBOR + 4.75%), 4.75%, 07/15/27(b)		115		137,896
TK Elevator US Newco Inc., 5.25%, 07/15/27(c)		USD    200		210,750
ZF Finance GmbH
3.00%, 09/21/25		EUR    100		125,668
2.00%, 05/06/27		200		238,336
3.75%, 09/21/28		100		129,768
				2,929,043
Guatemala(c) — 0.3%
Central American Bottling Corp., 5.75%, 01/31/27		USD    258		268,449
Energuate Trust, 5.88%, 05/03/27		303		315,366
				583,815

Security	Par (000)		Value
Hong Kong — 0.0%
Pearl Holding III Ltd., 9.50%, 12/11/22		USD    200	$	74,163
India — 0.7%
Azure Power Solar Energy Pvt Ltd., 5.65%, 12/24/24		200		211,475
Jubilant Pharma Ltd., 6.00%, 03/05/24		200		210,225
Muthoot Finance Ltd.
6.13%, 10/31/22(c)		200		207,100
4.40%, 09/02/23		200		205,350
ReNew Power Synthetic, 6.67%, 03/12/24		200		209,912
Shriram Transport Finance Co. Ltd., 5.95%, 10/24/22		200		204,610
Vedanta Resources Finance II PLC, 13.88%, 01/21/24		200		217,400
				1,466,072
Indonesia — 0.4%
Global Prime Capital Pte Ltd., 5.95%, 01/23/25		200		207,350
JGC Ventures Pte Ltd., 10.75%, 08/30/21(e)(g)		200		105,438
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.88%, 07/17/49		200		217,600
Theta Capital Pte Ltd., 8.13%, 01/22/25		200		206,412
				736,800
Ireland(b) — 0.4%
AIB Group PLC, (5 year EUR Swap + 3.30%), 2.88%, 05/30/31		EUR    350		443,767
Bank of Ireland Group PLC
(5 year CMT + 2.50%), 4.13%, 09/19/27		USD    200		204,516
(5 year EUR Swap + 2.80%), 2.38%, 10/14/29		EUR    100		123,633
				771,916
Israel(c) — 0.2%
Energean Israel Finance Ltd., 4.88%, 03/30/26		USD    170		174,250
Leviathan Bond Ltd., 5.75%, 06/30/23		276		288,260
				462,510
Italy — 1.0%
Assicurazioni Generali SpA, (3 mo. EURIBOR + 5.35%), 5.00%, 06/08/48(b)		EUR    100		143,909
Autostrade per l’Italia SpA
5.88%, 06/09/24		100		136,658
2.00%, 12/04/28		100		123,377
Centurion Bidco SpA, 5.88%, 09/30/26		100		123,831
Intesa Sanpaolo SpA, 5.71%, 01/15/26(c)		USD    450		509,011
Rossini Sarl, 6.75%, 10/30/25		EUR    300		372,465
Sisal Group SpA, 7.00%, 07/31/23.		69		82,058
Telecom Italia SpA
1.13%, 03/26/22(j)		100		118,900
4.00%, 04/11/24		100		127,909
UniCredit SpA, (5 year EUR Swap + 2.40%), 2.00%, 09/23/29(b)		200		238,814
				1,976,932
Japan — 0.2%
SoftBank Group Corp.
4.75%, 07/30/25		100		130,433
(5 year USD ICE Swap + 4.23%), 6.00%(b)(i)		USD    200		202,020
				332,453
Lithuania — 0.1%
ASG Finance Designated Activity Co., 7.88%, 12/03/24(c)		229		222,631
Luxembourg — 0.5%
Adler Group SA, 2.75%, 11/13/26		EUR    100		119,909
Altice Financing SA, 2.25%, 01/15/25		100		115,019

14 2 0 2 1    B L A C K R O  C K    S E M I - A N N U A L    R E P O R T    T O     S H A R E H O L D E R S

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Luxembourg (continued)
Atento Luxco 1 SA, 8.00%, 02/10/26(c)	USD	200	$	217,225
Garfunkelux Holdco 3 SA, 7.75%, 11/01/25	GBP	100		144,002
Millicom International Cellular SA, 4.50%, 04/27/31(c)	USD	255		265,248
Summer BC Holdco B Sarl, 5.75%, 10/31/26	EUR	100		124,053
				985,456
Macau — 0.2%
MGM China Holdings Ltd., 5.88%, 05/15/26	USD	200		209,537
Wynn Macau Ltd., 5.50%, 01/15/26		200		208,913
				418,450
Mauritius — 0.3%
HTA Group Ltd., 7.00%, 12/18/25(c)		200		212,287
India Green Energy Holdings, 5.38%, 04/29/24(c)		250		261,797
Network i2i Ltd., (5 year CMT + 4.27%), 5.65%(b)(i)		200		213,500
				687,584
Mexico — 1.3%
BBVA Bancomer SA/Texas, 1.88%, 09/18/25(c)		555		560,356
Cemex SAB de CV, 3.13%, 03/19/26	EUR	200		243,271
Controladora Mabe SA de CV, 5.60%, 10/23/28(c)	USD	444		517,343
Cydsa SAB de CV, 6.25%, 10/04/27(c)		600		632,370
Operadora de Servicios Mega SA de CV Sofom ER, 8.25%, 02/11/25(c)		400		398,950
Petroleos Mexicanos, 6.50%, 03/13/27		244		259,372
				2,611,662
Netherlands — 1.7%
ASR Nederland NV, (5 year EUR Swap + 4.00%), 3.38%, 05/02/49(b)	EUR	400		530,765
Dufry One BV, 2.00%, 02/15/27		100		111,759
Greenko Dutch BV, 3.85%, 03/29/26	USD	200		205,000
ING Groep NV, (5 year EUR Swap + 2.40%), 2.13%, 05/26/31(b)	EUR	400		504,181
NN Group NV, (3 mo. EURIBOR + 4.95%), 4.63%, 01/13/48(b)		500		706,120
OCI NV, 3.63%, 10/15/25		100		123,645
PPF Telecom Group BV, 3.25%, 09/29/27		100		127,468
Teva Pharmaceutical Finance Netherlands II BV, 1.13%, 10/15/24		100		111,038
United Group BV, 4.88%, 07/01/24		440		527,339
VEON Holdings BV, 4.00%, 04/09/25(c)	USD	200		210,500
Vivo Energy Investments BV, 5.13%, 09/24/27(c)		332		353,746
				3,511,561
Panama(c)(h) — 0.7%
Avianca Holdings SA
(3 mo. LIBOR US + 10.50% Cash or 3 mo. LIBOR US + 12.00% PIK), 12.15%, 11/10/21		1,313		1,313,174
Series APRL, (3 mo. LIBOR US + 10.50% Cash or 3 mo. LIBOR US + 12.00% PIK), 12.15%, 11/10/21		84		84,210
				1,397,384
Peru — 0.2%
Nexa Resources SA, 5.38%, 05/04/27(c)		397		425,485
Portugal — 0.2%
EDP - Energias de Portugal SA, (5 year EUR Swap + 4.29%), 4.50%, 04/30/79(b)	EUR	300		387,296
Saudi Arabia — 0.2%
Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26(c)	USD	300		317,906

Security	Par (000)		Value
Singapore — 0.5%
Puma International Financing SA, 5.13%, 10/06/24(c)	USD	1,000	$	1,006,250
South Africa — 0.1%
Sasol Financing USA LLC, 6.50%, 09/27/28		200		225,000
Spain — 0.5%
CaixaBank SA, (5 year EUR Swap + 1.68%), 2.25%, 04/17/30(b)	EUR	300		372,571
Cirsa Finance International Sarl, 7.88%, 12/20/23(c)	USD	200		203,620
ContourGlobal Power Holdings SA, 4.13%, 08/01/25	EUR	200		242,135
Ferrovial Netherlands BV, (5 year EUR Swap + 2.13%), 2.12%(b)(i)		100		118,238
Lorca Telecom Bondco SA, 4.00%, 09/18/27		100		120,650
				1,057,214
Sweden — 0.1%
Heimstaden Bostad AB, (5 year EUR Swap + 3.15%), 2.63%(b)(i)		100		117,063
Verisure Holding AB, 3.50%, 05/15/23		144		172,114
				289,177
Switzerland — 0.1%
ELM BV for Firmenich International SA, (5 year EUR Swap + 4.39%), 3.75%(b)(i)		130		166,186
Thailand — 0.1%
Bangkok Bank PCL, (5 year CMT + 1.90%), 3.73%, 09/25/34(b)	USD	200		207,413
Ukraine — 0.2%
MHP Lux SA, 6.25%, 09/19/29(c)		400		397,700
United Arab Emirates — 0.2%
MAF Sukuk Ltd., 4.64%, 05/14/29		334		375,082
United Kingdom — 2.1%
Arqiva Broadcast Finance PLC, 6.75%, 09/30/23	GBP	100		141,996
Arrow Global Finance PLC, 5.13%, 09/15/24		240		334,074
Barclays PLC
4.84%, 05/09/28	USD	500		562,092
(5 year EUR Swap + 1.90%), 2.00%, 02/07/28(b)	EUR	400		486,251
BP Capital Markets PLC, (5 year EUR Swap + 4.12%), 3.63%(b)(i)		350		451,251
eG Global Finance PLC, 4.38%, 02/07/25		100		116,870
HSBC Holdings PLC, 4.38%, 11/23/26	USD	250		281,900
Ladbrokes Group Finance PLC
5.13%, 09/16/22	GBP	7		9,639
5.13%, 09/08/23		200		291,185
Liquid Telecommunications Financing PLC, 5.50%, 09/04/26(c)	USD	238		242,686
Nationwide Building Society, (5 year USD ICE Swap + 1.85%), 4.13%, 10/18/32(b)(c)		300		327,345
Natwest Group PLC(b)
(5 year CMT + 2.10%), 3.75%, 11/01/29		300		318,750
(5 year CMT + 2.35%), 3.03%, 11/28/35		200		200,320
Pinewood Finance Co. Ltd., 3.25%, 09/30/25	GBP	100		140,562
Thames Water Kemble Finance PLC, 4.63%, 05/19/26		167		236,368
Vmed O2 UK Financing I PLC, 3.25%, 01/31/31	EUR	133		158,077
				4,299,366
United States — 13.5%
Acadia Healthcare Co., Inc., 5.50%, 07/01/28(c)	USD	35		37,363
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.63%, 01/15/27(c)		33		34,516

S C H E D U L E    O F    I N V E S T  M E N T S 15

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
United States (continued)
Ambac Assurance Corp., 5.10%(c)(i)		USD      23	$	31,742
Ambac LSNI LLC, (3 mo. LIBOR US + 5.00%), 6.00%, 02/12/23(b)(c)		459		459,357
American Airlines Group, Inc.(a)
4.87%, 04/22/25		143		142,781
4.00%, 12/15/25		125		124,360
American Builders & Contractors Supply Co., Inc., 4.00%, 01/15/28(c)		17		17,420
AMN Healthcare, Inc., 4.63%, 10/01/27(c)		148		153,802
Aramark Services, Inc., 5.00%, 02/01/28(c)		28		29,322
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
2.13%, 08/15/26		EUR    100		118,540
4.75%, 07/15/27		GBP    140		197,148
Ashton Woods USA LLC/Ashton Woods Finance Co.(c)
9.88%, 04/01/27		USD    278		310,665
6.63%, 01/15/28		305		324,825
Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25		EUR    100		120,603
Boxer Parent Co., Inc., 6.50%, 10/02/25		100		125,776
Boyd Gaming Corp., 4.75%, 12/01/27		USD    265		274,275
Bristow Group, Inc., 6.88%, 03/01/28(c)		197		200,940
Buckeye Partners LP
4.13%, 03/01/25(c)		124		128,495
3.95%, 12/01/26		15		15,263
Caesars Entertainment, Inc.(c)
6.25%, 07/01/25		337		357,220
8.13%, 07/01/27		213		236,899
Calpine Corp.(c)
4.50%, 02/15/28		817		833,340
5.13%, 03/15/28		512		520,960
Cedar Fair LP, 5.25%, 07/15/29		12		12,360
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.38%, 04/15/27		12		12,360
Centennial Resource Production LLC, 5.38%, 01/15/26(c)		1,000		980,000
Charles River Laboratories International, Inc., 4.25%, 05/01/28(c)		12		12,405
Chesapeake Energy Corp.(c)
5.50%, 02/01/26		79		83,345
5.88%, 02/01/29		29		31,391
Churchill Downs, Inc., 4.75%, 01/15/28(c)		12		12,417
Citgo Holding, Inc., 9.25%, 08/01/24(c)		224		228,480
Clarios Global LP/Clarios US Finance Co., 6.25%, 05/15/26(c)		38		40,482
Clear Channel Worldwide Holdings, Inc., 5.13%, 08/15/27(c)		433		443,920
Coty, Inc., 6.50%, 04/15/26(c)		72		72,940
CrownRock LP/CrownRock Finance, Inc., 5.63%, 10/15/25(c)		29		30,015
DAE Funding LLC, 3.38%, 03/20/28(c)		315		322,481
Dave & Buster’s, Inc., 7.63%, 11/01/25(c)		30		32,288
DCP Midstream Operating LP, 5.13%, 05/15/29		15		16,575
Encore Capital Group, Inc., 4.88%, 10/15/25		EUR    100		125,245
Endeavor Energy Resources LP/EER Finance, Inc.(c)
5.50%, 01/30/26		USD      12		12,465
5.75%, 01/30/28		25		26,656
Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25(c)		1,050		1,109,010

Security	Par (000)		Value
United States (continued)
Forestar Group, Inc.(c)
3.85%, 05/15/26		USD    144	$	145,303
5.00%, 03/01/28		384		397,440
Full House Resorts, Inc., 8.25%, 02/15/28(c)		21		22,890
Golden Entertainment, Inc., 7.63%, 04/15/26(c)		149		158,312
Hanesbrands, Inc., 4.88%, 05/15/26(c)		22		23,760
Howard Hughes Corp., 5.38%, 08/01/28(c)		116		123,149
Howmet Aerospace, Inc., 6.75%, 01/15/28		1,540		1,855,699
iHeartCommunications, Inc.
6.38%, 05/01/26		20		20,994
5.25%, 08/15/27(c)		19		19,863
4.75%, 01/15/28(c)		12		12,345
IRB Holding Corp., 7.00%, 06/15/25(c)		108		116,642
Lamar Media Corp., 3.75%, 02/15/28		15		15,263
Level 3 Financing, Inc.(c)
4.63%, 09/15/27		25		25,948
4.25%, 07/01/28		399		404,889
3.63%, 01/15/29		325		313,625
M/I Homes, Inc., 4.95%, 02/01/28		314		327,580
Masonite International Corp., 5.38%, 02/01/28(c)		12		12,716
Matador Resources Co., 5.88%, 09/15/26		26		26,780
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc.
4.50%, 09/01/26		1,612		1,720,810
5.75%, 02/01/27		18		20,027
MGM Resorts International
4.63%, 09/01/26		10		10,563
5.50%, 04/15/27		17		18,658
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29(c)		162		162,202
Nationstar Mortgage Holdings, Inc., 6.00%, 01/15/27(c)		15		15,544
Nexstar Broadcasting, Inc., 5.63%, 07/15/27(c)		421		446,260
NRG Energy, Inc., 5.25%, 06/15/29(c)		18		19,148
OI European Group BV, 2.88%, 02/15/25		EUR    100		120,263
Outfront Media Capital LLC/Outfront Media Capital Corp.(c)
5.00%, 08/15/27		USD      16		16,566
4.63%, 03/15/30		12		12,180
Owens-Brockway Glass Container, Inc., 6.38%, 08/15/25(c)		1,495		1,657,581
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 4.88%, 05/15/29(c)		50		51,722
Periama Holdings LLC, 5.95%, 04/19/26		200		217,100
Pioneer Energy Services Corp.(a)(c)(h)
(11.00% Cash or 11.00% PIK), 11.00%, 05/15/25		624		628,424
(5.00% PIK), 5.00%, 11/15/25(j)		463		514,478
Playtika Holding Corp., 4.25%, 03/15/29(c)		46		45,968
Quicken Loans LLC/Quicken Loans Co-Issuer, Inc., 3.63%, 03/01/29(c)		106		104,675
Renewable Energy Group, Inc., 5.88%, 06/01/28(c)		8		8,390
RHP Hotel Properties LP/RHP Finance Corp., 4.75%, 10/15/27		17		17,460
Sasol Financing USA LLC, 4.38%, 09/18/26		200		206,250
Scientific Games International, Inc., 7.00%, 05/15/28(c)		280		305,816
SeaWorld Parks & Entertainment, Inc.(c)
8.75%, 05/01/25		478		517,865
9.50%, 08/01/25		195		209,137
Select Medical Corp., 6.25%, 08/15/26(c)		515		548,485

16 2 0 2 1    B L A C K R O  C K    S E M I - A N N U A L    R E P O R T    T O     S H A R E H O L D E R S

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
United States (continued)
Service Properties Trust
4.50%, 06/15/23		USD    359	$	367,975
7.50%, 09/15/25		41		46,420
SES SA, (5 year EUR Swap + 5.40%), 5.63%(b)(i)		EUR    200		258,790
Sirius XM Radio, Inc., 5.50%, 07/01/29(c)		USD      31		33,781
SM Energy Co., 10.00%, 01/15/25(c)		244		275,315
SRS Distribution, Inc., 4.63%, 07/01/28(c)		17		17,383
Standard Industries, Inc., 4.75%, 01/15/28(c)		25		26,168
Sunoco LP/Sunoco Finance Corp.
6.00%, 04/15/27		15		15,686
4.50%, 05/15/29(c)		49		49,857
Talen Energy Supply LLC, 6.63%, 01/15/28(c)		386		353,518
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
5.00%, 01/15/28		19		20,045
5.50%, 03/01/30		25		27,492
Taylor Morrison Communities, Inc.(c)
5.88%, 06/15/27		378		427,612
5.75%, 01/15/28		1,287		1,453,023
TEGNA, Inc.
4.63%, 03/15/28		210		217,875
5.00%, 09/15/29		27		28,255
Tenet Healthcare Corp.(c)
6.25%, 02/01/27		37		38,619
5.13%, 11/01/27		37		38,804
4.63%, 06/15/28		34		34,993
Transocean Phoenix 2 Ltd., 7.75%, 10/15/24(c)		909		940,401
Travel + Leisure Co., 6.63%, 07/31/26(c)		132		149,556
Tri Pointe Homes, Inc.
5.25%, 06/01/27		295		320,075
5.70%, 06/15/28		27		29,768
United Airlines Pass-Through Trust
Series 2019-2, Class B, 3.50%, 11/01/29		144		142,782
Series 2020-1, Class A, 5.88%, 10/15/27		359		398,087
VICI Properties LP/VICI Note Co., Inc.(c)
4.25%, 12/01/26		31		32,247
3.75%, 02/15/27		19		19,325
4.63%, 12/01/29		277		294,312
4.13%, 08/15/30		25		25,671
Vistra Operations Co. LLC(c)
5.50%, 09/01/26		25		25,781
5.63%, 02/15/27		32		33,200
William Lyon Homes, Inc., 6.63%, 07/15/27(c)		853		912,710
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.(c)
5.50%, 03/01/25		44		47,382
5.25%, 05/15/27		22		23,630
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.13%, 10/01/29(c)		299		315,819
XHR LP(c)
6.38%, 08/15/25		104		110,630
4.88%, 06/01/29		16		16,520
				27,588,724

Security	Par (000)			Value
Vietnam — 0.1%
Mong Doung Finacial Holdings BV, 5.13%, 05/07/29		USD    250		$	250,281
Total Corporate Bonds — 39.2% (Cost: $77,594,990)					80,146,007
Floating Rate Loan Interests(b)
Canada — 0.7%
Kestrel Bidco, Inc., Term Loan B, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 12/11/26		1,512			1,481,735
Luxembourg — 0.7%
Connect Finco Sarl, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 12/12/26		494			494,001
Intelsat Jackson Holdings SA 2017 Term Loan B4, (PRIME + 5.50%), 8.75%, 01/02/24		430			437,459
2020 DIP Term Loan, (PRIME + 4.75%, 1.00% Floor), 6.50%, 07/13/22		406			408,189
					1,339,649
Netherlands — 0.2%
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 3.50%), 3.65%, 07/10/25		483			482,878
United States — 7.7%
18 Fremont Street Acquisition LLC, Term Loan B, (3 mo. LIBOR + 8.00%, 1.50% Floor), 9.50%, 08/09/25		1,127			1,149,626
Advanced Drainage Systems, Inc., Term Loan B, (1 mo. LIBOR + 2.25%), 2.38%, 07/31/26		26			26,461
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 3.85%, 02/02/26		237			230,952
Allegiant Travel Co., 2020 Term Loan, (3 mo. LIBOR + 3.00%), 3.16%, 02/05/24		1,111			1,103,745
BCP Raptor II LLC, 1st Lien Term Loan, (1 mo. LIBOR + 4.75%), 4.85%, 11/03/25		—	(k)		429
Buckeye Partners LP, 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.35%, 11/01/26		771			765,482
Caesars Resort Collection LLC, 2020 Term Loan B1, (1 mo. LIBOR + 4.50%), 4.60%, 07/20/25		234			234,816
Citgo Holding, Inc., 2019 Term Loan B, (3 mo. LIBOR + 2.00%, 1.00% Floor), 8.00%, 08/01/23		94			92,163
Cornerstone Building Brands, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 04/12/28		1,430			1,427,664
CSC Holdings LLC, 2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 2.57%, 04/15/27		245			242,314
Diamond Sports Group LLC, Term Loan, (1 mo. LIBOR + 3.25%), 3.36%, 08/24/26		857			513,085
Foundation Building Materials Holding Company LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 02/03/28		48			47,376
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 03/31/27		1,255			1,248,836
Genesee & Wyoming, Inc., Term Loan, (3 mo. LIBOR + 2.00%), 2.15%, 12/30/26		236			233,718

S C H E D U L E    O F    I N V E S T  M E N T S 17

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
United States (continued)
Golden Nugget LLC, 2017 Incremental Term Loan B, (2 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 10/04/23		USD    304	$	301,335
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 Week LIBOR + 2.00%), 2.09%, 11/15/27		484		479,554
Jeld-Wen, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 2.10%, 12/14/24		864		862,705
KAR Auction Services, Inc., 2019 Term Loan B6, (1 mo. LIBOR + 2.25%), 2.38%, 09/19/26		44		43,566
Lamar Media Corp., 2020 Term Loan B, (1 mo. LIBOR + 1.50%), 1.58%, 02/06/27		34		33,170
LBM Acquisition LLC
Delayed Draw Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/18/27		9		8,968
Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/18/27		61		60,530
MI Windows And Doors LLC, 2020 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/18/27		76		75,668
Pacific Gas & Electric Co., 2020 Term Loan, (3 mo. LIBOR + 3.00%, 0.50% Floor), 3.50%, 06/23/25		232		228,331
PCI Gaming Authority, Term Loan, (1 mo. LIBOR + 2.50%), 2.60%, 05/29/26		393		390,626
Playtika Holding Corp., 2021 Term Loan, (1 mo. LIBOR + 2.75%), 2.85%, 03/11/28		365		363,219
PLH Infrastructure Services, Inc., 2018 Term Loan, (3 mo. LIBOR + 6.00%), 6.19%, 08/07/23(a)		284		284,964
Robertshaw US Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 02/28/25		832		803,352
Scientific Games International, Inc., 2018 Term Loan B5, (1 mo. LIBOR + 2.75%), 2.85%, 08/14/24		1,529		1,517,175
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 03/16/27		189		189,316
Select Medical Corp., 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 2.36%, 03/06/25		141		139,297
Summit Materials Companies I LLC, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.10%, 11/21/24		835		831,266
The Enterprise Development Authority, Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 02/18/28(a)		283		284,121
TransDigm, Inc., 2020 Term Loan F, (1 mo. LIBOR + 2.25%), 2.35%, 12/09/25		746		734,200
White Cap Buyer LLC, Term Loan B, (3 mo. LIBOR + 4.00%, 0.50% Floor), 4.50%, 10/19/27		308		308,836
XPO Logistics, Inc., 2018 Term Loan B, (3 mo. LIBOR + 1.75%), 1.88%, 02/24/25		471		468,601
				15,725,467
Total Floating Rate Loan Interests — 9.3% (Cost: $19,451,391)				19,029,729

Security	Par (000)		Value
Foreign Agency Obligations
Bahrain — 0.3%
Bahrain Government International Bond, 6.75%, 09/20/29	USD	200	$	219,288
CBB International Sukuk Co. 7 SPC, 6.88%, 10/05/25		410		473,934
				693,222
Colombia — 0.6%
Colombia Government International Bond
8.13%, 05/21/24		317		374,218
4.50%, 01/28/26		340		371,089
3.88%, 04/25/27		370		393,079
				1,138,386
Dominican Republic — 0.4%
Dominican Republic International Bond
5.95%, 01/25/27		322		362,250
4.50%, 01/30/30(c)		380		387,790
				750,040
Egypt — 0.9%
Egypt Government International Bond
5.75%, 05/29/24(c)		305		324,596
5.88%, 06/11/25		700		747,381
6.38%, 04/11/31(c)	EUR	565		697,710
				1,769,687
Ghana — 0.1%
Ghana Government International Bond, 8.63%, 04/07/34(c)	USD	300		308,906
Indonesia — 0.1%
Indonesia Government International Bond, 4.10%, 04/24/28		200		225,913
Morocco — 0.2%
Morocco Government International Bond, 3.00%, 12/15/32(c)		370		357,050
Panama — 0.1%
Panama Government International Bond, 3.16%, 01/23/30		275		288,200
Romania — 0.2%
Romanian Government International Bond, 3.00%, 02/14/31(c)		334		346,379
Russia — 0.2%
Russian Foreign Bond - Eurobond, 4.75%, 05/27/26		400		454,950
Saudi Arabia — 0.3%
Saudi Government International Bond, 4.50%, 04/17/30		508		598,424
Sri Lanka — 0.1%
Sri Lanka Government International Bond
7.85%, 03/14/29		200		126,537
7.55%, 03/28/30		200		126,475
				253,012
Ukraine — 0.6%
Ukraine Government International Bond
7.75%, 09/01/22		100		104,950
7.75%, 09/01/23		230		247,825
8.99%, 02/01/24		224		248,416

18 2 0 2 1    B L A C K R O  C K    S E M I - A N N U A L    R E P O R T    T O     S H A R E H O L D E R S

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Ukraine (continued)
Ukraine Government International Bond (continued)
7.75%, 09/01/24		USD      160	$	174,530
7.75%, 09/01/25		100		109,500
7.25%, 03/15/33(c)		400		415,950
				1,301,171
Total Foreign Agency Obligations — 4.1% (Cost: $8,075,618)				8,485,340
Non-Agency Mortgage-Backed Securities
United States — 12.9%
Alternative Loan Trust, Series 2007-AL1, Class A1, (1 mo. LIBOR US + 0.25%), 0.34%, 06/25/37(b)		640		509,676
ARI Investments LLC, 4.59%, 01/06/25(a)		701		696,580
Bayview Commercial Asset Trust, Series 2007-6A, Class A4A, (1 mo. LIBOR US + 1.50%), 1.59%, 12/25/37(b)(c)		2,000		1,920,094
BBCMS Mortgage Trust, Series 2018-TALL, Class D, (1 mo. LIBOR US + 1.45%), 1.52%, 03/15/37(b)(c)		500		485,700
BCAP LLC Trust, Series 2012-RR3, Class 1A5, 6.25%, 12/26/37(b)(c)		739		679,703
Benchmark Mortgage Trust, Series 2018-B7, Class C, 5.02%, 05/15/53(b)		1,000		1,135,964
BX Commercial Mortgage Trust(b)(c)
Series 2018-IND, Class H, (1 mo. LIBOR US + 3.00%), 3.07%, 11/15/35		700		701,304
Series 2020-BXLP, Class F, (1 mo. LIBOR US + 2.00%), 2.07%, 12/15/36.		377		376,549
BX Trust, Series 2019-OC11, Class E, 4.08%, 12/09/41(b)(c)		652		681,889
BXP Trust(b)(c)
Series 2017-CC, Class D, 3.67%, 08/13/37		180		189,718
Series 2017-CC, Class E, 3.67%, 08/13/37		350		358,600
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class E, (1 mo. LIBOR US + 2.15%), 2.22%, 12/15/37(b)(c)		633		634,181
CFCRE Commercial Mortgage Trust, Series 2016-C3, Class C, 4.91%, 01/10/48(b)		1,000		1,040,591
CFK Trust, Series 2019-FAX, Class E, 4.79%, 01/15/39(b)(c)		1,000		1,065,785
Citigroup Commercial Mortgage Trust(b)
Series 2015-GC27, Class C, 4.57%, 02/10/48		756		800,572
Series 2016-C1, Class C, 5.11%, 05/10/49		534		591,626
Series 2016-C1, Class D, 5.11%, 05/10/49(c)		700		719,014
Series 2016-P3, Class D, 2.80%, 04/15/49(c)		500		378,997
Cold Storage Trust, Series 2020-ICE5, Class F, (1 mo. LIBOR US + 3.49%), 3.57%, 11/15/37(b)(c)		197		198,693
DBGS Mortgage Trust, Series 2019-1735, Class F, 4.33%, 04/10/37(b)(c)		499		418,501
DBJPM Mortgage Trust, Series 2017-C6, Class XD, 1.00%, 06/10/50(b)		11,000		530,200
DBUBS Mortgage Trust, Series 2017-BRBK, Class F, 3.65%, 10/10/34(b)(c)		390		395,398
GS Mortgage Securities Trust(c)
Series 2017-GS7, Class D, 3.00%, 08/10/50		375		347,157
Series 2017-GS7, Class E, 3.00%, 08/10/50		300		268,716

Security	Par (000)		Value
United States (continued)
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-WPT, Class FFX, 5.54%, 07/05/33(b)(c)		USD      59	$	60,154
JPMBB Commercial Mortgage Securities Trust, Series 2015-C33, Class D1, 4.27%, 12/15/48(b)(c)		1,619		1,599,652
JPMCC Commercial Mortgage Securities Trust, Series 2017-JP5, Class D, 4.77%, 03/15/50(b)(c)		140		143,081
LSTAR Commercial Mortgage Trust(b)(c)
Series 2017-5, Class C, 4.87%, 03/10/50		1,000		1,018,707
Series 2017-5, Class X, 1.14%, 03/10/50		11,276		314,802
MAD Mortgage Trust(b)(c)
Series 2017-330M, Class D, 4.11%, 08/15/34		130		132,886
Series 2017-330M, Class E, 4.17%, 08/15/34		180		181,284
MASTR Reperforming Loan Trust, Series 2005-1, Class 1A5, 8.00%, 08/25/34(c)		834		792,211
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2015-C23, Class D, 4.28%, 07/15/50(b)(c)		310		313,310
Series 2015-C25, Class D, 3.07%, 10/15/48		39		38,281
Morgan Stanley Capital I Trust
Series 2017-H1, Class D, 2.55%, 06/15/50(c)		1,010		851,319
Series 2017-H1, Class XD, 2.32%, 06/15/50(b)(c)		8,625		903,814
Series 2018-H4, Class C, 5.24%, 12/15/51(b)		711		773,741
Series 2018-MP, Class E, 4.42%, 07/11/40(b)(c)		250		230,110
Series 2018-SUN, Class F, (1 mo. LIBOR US + 2.55%), 2.62%, 07/15/35(b)(c)		220		219,030
Series 2019-NUGS, Class E, (1 mo. LIBOR US + 2.24%), 3.74%, 12/15/36(b)(c)		381		382,506
Olympic Tower Mortgage Trust(b)(c)
Series 2017-OT, Class D, 4.08%, 05/10/39		140		138,982
Series 2017-OT, Class E, 4.08%, 05/10/39		190		171,241
Park Avenue Trust, Series 2017-245P, Class E, 3.78%, 06/05/37(b)(c)		380		370,085
RALI Trust, Series 2006-QO6, Class A1, (1 mo. LIBOR US + 0.36%), 0.45%, 06/25/46(b)		2,636		841,462
US 2018-USDC, Series 2018-USDC, Class E, 4.64%, 05/13/38(b)(c)		269		232,087
Wells Fargo Commercial Mortgage Trust(b)
Series 2016-C37, Class C, 4.63%, 12/15/49		701		750,717
Series 2016-NXS5, Class D, 5.15%, 01/15/59		500		537,452
Wells Fargo Mortgage Backed Securities Trust, Series 2008-AR1, Class A2, 2.94%, 03/25/38(b)		376		276,351
Total Non-Agency Mortgage-Backed Securities — 12.9% (Cost: $25,490,635)				26,398,473
Preferred Securities
Capital Trusts — 4.0%
Belgium — 0.1%
Solvay Finance SA, 5.43%(b)(i)		EUR      140		182,965
China — 0.1%
King Talent Management Ltd., 5.60%(b)(i)		USD      200		178,850
Denmark — 0.4%
Orsted A/S, 2.25%, 12/31/99(b)		EUR      600		743,477
France(b)(i) — 0.7%
Electricite de France SA
5.38%		100		132,989
3.00%		400		490,191

S C H E D U L E    O F    I N V E S T  M E N T S 19

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
France (continued)
Electricite de France SA (continued) 3.38%	EUR	200	$	247,525
Engie SA, 3.25%		400		513,430
				1,384,135
Germany(b)(i) — 0.2%
ATF Netherlands BV, 3.75%		100		123,170
Volkswagen International Finance NV, 4.63%		300		404,594
				527,764
Hong Kong(b)(i) — 0.2%
FWD Ltd., 5.50%	USD	200		200,937
Nanyang Commercial Bank Ltd., 5.00%		200		200,813
				401,750
Italy — 0.2%
Eni SpA, Series NC9, 2.75%(b)(i)	EUR	350		417,088
Luxembourg — 0.1%
SES SA, 2.88%(b)(i)		250		298,542
Netherlands(i) — 0.6%
Abertis Infraestructuras Finance BV, 3.25%(b)		100		122,577
Koninklijke KPN NV, 2.00%(b)		100		120,214
Repsol International Finance BV, 2.50%(b)		250		297,920
Stichting AK Rabobank Certificaten, 2.19%		45		71,480
Volkswagen International Finance NV, 3.88%(b)		300		394,855
Wintershall Dea Finance 2 BV, Series NC5, 2.50%(b)		200		236,310
				1,243,356
Spain(b)(i) — 0.5%
CaixaBank SA, 6.00%		200		247,509
Naturgy Finance BV, 4.13%		100		124,508
Repsol International Finance BV, 3.75%		100		126,853
Telefonica Europe BV
4.38%		100		128,632
3.88%		300		382,617
				1,010,119
Switzerland — 0.3%
Argentum Netherlands BV for Swiss Re Ltd., 5.75%, 08/15/50(b)	USD	500		565,382
United Kingdom(b) — 0.4%
BP Capital Markets PLC, 3.25%(i)	EUR	100		126,638
Vodafone Group PLC
4.13%, 06/04/81	USD	600		599,100
3.10%, 01/03/79	EUR	100		123,466
				849,204

Security	Par (000)		Value
United States — 0.2%
Belden, Inc., 4.13%, 10/15/26		EUR    100	$	121,525
NWD Finance BVI Ltd., 4.13%(b)(i)		USD    200		202,200
				323,725
Total Preferred Securities — 4.0% (Cost: $7,768,024)				8,126,357
U.S. Government Sponsored Agency Securities
Collateralized Mortgage Obligations — 0.6%
Fannie Mae Connecticut Avenue Securities, Series 2017-C03, Class 1M2, (1 mo. LIBOR US + 3.00%), 3.09%, 10/25/29		95		97,573
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2017-DNA2, Class B1, (1 mo. LIBOR US + 5.15%), 5.24%, 10/25/29		1,000		1,082,662
				1,180,235
Commercial Mortgage-Backed Securities — 0.2%
FREMF Mortgage Trust, Series 2017-KGX1, Class BFX, 3.71%, 10/25/27(b)(c)		500		528,460
Total U.S. Government Sponsored Agency Securities — 0.8% (Cost: $1,572,298)				1,708,695
	Shares
Warrants
United States — 0.1%
Chesapeake Energy Corp. (Expires 02/09/26)(e)		10,706		259,899
Total Warrants — 0.1% (Cost: $ — )				259,899
Total Long-Term Investments — 84.8% (Cost: $168,789,937)				173,661,771

20 2 0 2 1    B L A C K R O  C K    S E M I - A N N U A L    R E P O R T    T O     S H A R E H O L D E R S

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO) (Percentages shown are based on Net Assets)

Security	Shares		Value
Short-Term Securities
Money Market Funds — 9.1%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.01%(l)(m)		18,518,658	$	18,518,658
Total Short-Term Securities — 9.1%
(Cost: $18,518,658)				18,518,658
Options Purchased — 0.0%
(Cost: $235,841)				93,240
Total Investments Before Options Written — 93.9%
(Cost: $187,544,436)				192,273,669
Options Written — (0.0)%
(Premiums Received: $(92,718))				(51,060	)
Total Investments, Net of Options Written — 93.9%
(Cost: $187,451,718)				192,222,609
Other Assets Less Liabilities — 6.1%				12,474,305
Net Assets — 100.0%			$	204,696,914

^(a) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(b) Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

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

^(d) Rounds to less than $1.

^(e)  Non-income producing security.

^(f) Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $9,598, representing less than 0.05% of its net assets as of period end, and an original cost of $1,771.

^(g) Issuer filed for bankruptcy and/or is in default.

^(h) Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

⁽ⁱ⁾ Perpetual security with no stated maturity date.

^(j) Convertible security.

^(k) Amount is less than 500.

^(l)  Affiliate of the Trust.

^(m) Annualized 7-day yield as of period end.

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the six-months ended June 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 12/31/20		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 06/30/21		Shares Held at 06/30/21		Income		Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class	$	5,995,724	$	12,522,934	(a)	$	—	$	—	$	—	$	18,518,658		18,518,658	$	1,190	$	—

^(a) Represents net amount purchased (sold).

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Short Contracts
Euro Bund		1		09/08/21	$	205	$	(1,246	)
Euro-BOBL		2		09/08/21		318		(262	)
							$	(1,508	)

Forward Foreign Currency Exchange Contracts

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
BRL	1,623,851	USD	313,000	BNP Paribas S.A.		09/15/21	$	10,526
USD	22,091,555	EUR	18,224,000	BNP Paribas S.A.		09/15/21		449,553
USD	106,475	EUR	89,000	Deutsche Bank AG		09/15/21		782
USD	192,988	EUR	162,000	Morgan Stanley & Co. International PLC		09/15/21		604
USD	1,664,289	GBP	1,179,000	Barclays Bank PLC		09/15/21		33,106
USD	156,000	RUB	11,433,691	UBS AG		09/15/21		1,416
USD	900,086	EUR	737,000	UBS AG		09/16/21		24,840
USD	883,806	EUR	737,000	Bank of America N.A.		12/15/21		6,701

S C H E D U L E    O F    I N V E S T  M E N T S 21

Schedule of Investments (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO)

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	22,153,631	EUR	18,475,000	Bank of America N.A.		12/15/21	$	166,494
USD	1,641,419	GBP	1,179,000	State Street Bank and Trust Co.		12/15/21		9,604
								703,626
EUR	18,475,000	USD	22,113,132	Bank of America N.A.		09/15/21		(173,053	)
GBP	1,179,000	USD	1,641,227	State Street Bank and Trust Co.		09/15/21		(10,045	)
RUB	22,839,804	USD	312,000	HSBC Bank USA N.A.		09/15/21		(3,204	)
USD	156,500	BRL	793,790	Citibank N.A.		09/15/21		(1,650	)
USD	156,500	BRL	792,956	UBS AG		09/15/21		(1,484	)
USD	156,000	RUB	11,544,833	UBS AG		09/15/21		(87	)
EUR	737,000	USD	882,208	Bank of America N.A.		09/16/21		(6,961	)
								(196,484	)
							$	507,142

Exchange-Traded Options Purchased

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Put
iShares iBoxx $ High Yield Corporate Bond ETF		2,220		10/15/21		USD    82.00		USD    19,545	$	93,240

Exchange-Traded Options Written

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Put
iShares iBoxx $ High Yield Corporate Bond ETF		2,220		10/15/21		USD    75.00		USD    19,545	$	(51,060	)

Centrally Cleared Interest Rate Swaps

Paid by the Trust		Received by the Trust		Effective Date	Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)		Unrealized Appreciation (Depreciation)
Rate	Frequency	Rate	Frequency
0.33%	Semi-Annual	3-Month LIBOR, 0.15%	Quarterly	N/A		06/26/23		USD	5,900	$	(1,657	)	$	70	$	(1,727	)
0.52%	Semi-Annual	3-Month LIBOR, 0.15%	Quarterly	N/A		06/21/24		USD	3,500		4,281			41		4,240
0.97%	Semi-Annual	3-Month LIBOR, 0.15%	Quarterly	N/A		06/25/26		USD	12,250		(2,336	)		165		(2,501	)
1.49%	Semi-Annual	3-Month LIBOR, 0.15%	Quarterly	N/A		06/25/31		USD	1,900		(5,447	)		31		(5,478	)
1.48%	Semi-Annual	3-Month LIBOR, 0.15%	Quarterly	N/A		07/01/31		USD	6,100		(12,842	)		99		(12,941	)
										$	(18,001	)	$	406	$	(18,407	)

OTC Credit Default Swaps — Sell Protection

Reference Obligation/Index	Financing Rate Received by the Trust			Payment     Frequency	Counterparty	Termination Date		Credit Rating(a)		Notional Amount (000)(b)		Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
CMBX.NA.9		3.00	%	Monthly	Morgan Stanley & Co. International PLC		09/17/58		NR	USD	5,000	$	(386,336	)	$	(518,497	)	$	132,161
CMBX.NA.9		3.00		Monthly	Morgan Stanley & Co. International PLC		09/17/58		NR	USD	3,000		(231,801	)		(307,244	)		75,443
												$	(618,137	)	$	(825,741	)	$	207,604

^(a) Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

^(b)  The maximum potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement.

22 2 0 2 1    B L A C K R O C K    S E M I - A N N U A L    R  E P O R T    T O    S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO)

Balances Reported in the Statements of Assets and Liabilities for Centrally Cleared Swaps, OTC Swaps and Options Written    

Description	Swap Premiums Paid		Swap Premiums Received			Unrealized Appreciation		Unrealized Depreciation			Value
Centrally Cleared Swaps(a)	$	406	$	—		$	4,240	$	(22,647	)	$	—
OTC Swaps		—		(825,741	)		207,604		—			—
Options Written		N/A		N/A			41,658		—			(51,060	)

^(a) Includes cumulative appreciation (depreciation) on centrally cleared swaps, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities and is net of any previously paid (received) swap premium amounts.

Derivative Financial Instruments Categorized by Risk Exposure

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

	Commodity Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total
Assets — Derivative Financial Instruments
Forward foreign currency exchange contracts
Unrealized appreciation on forward foreign currency exchange contracts.	$	—	$	—	$	—	$	703,626	$	—	$	—	$	703,626
Options purchased
Investments at value — unaffiliated(a)		—		—		93,240		—		—		—		93,240
Swaps — centrally cleared
Unrealized appreciation on centrally cleared swaps(b)		—		—		—		—		4,240		—		4,240
Swaps — OTC
Unrealized appreciation on OTC swaps; Swap premiums paid		—		207,604		—		—		—		—		207,604
	$	—	$	207,604	$	93,240	$	703,626	$	4,240	$	—	$	1,008,710
Liabilities — Derivative Financial Instruments
Futures contracts
Unrealized depreciation on futures contracts(b)	$	—	$	—	$	—	$	—	$	1,508	$	—	$	1,508
Forward foreign currency exchange contracts
Unrealized depreciation on forward foreign currency exchange contracts.		—		—		—		196,484		—		—		196,484
Options written
Options written at value		—		—		51,060		—		—		—		51,060
Swaps — centrally cleared
Unrealized depreciation on centrally cleared swaps(b)		—		—		—		—		22,647		—		22,647
Swaps — OTC
Unrealized depreciation on OTC swaps; Swap premiums received		—		825,741		—		—		—		—		825,741
	$	—	$	825,741	$	51,060	$	196,484	$	24,155	$	—	$	1,097,440

^(a)  Includes options purchased at value as reported in the Schedule of Investments.

^(b)  Net cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss).

For the six months ended June 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:

	Commodity Contracts		Credit Contracts		Equity Contracts			Foreign Currency Exchange Contracts			Interest Rate Contracts			Other Contracts		Total
Net Realized Gain (Loss) from
Futures contracts	$	—	$	—	$	—		$	—		$	(118,516	)	$	—	$	(118,516	)
Forward foreign currency exchange contracts		—		—		—			(159,126	)		—			—		(159,126	)
Options purchased(a)		—		—		(672,147	)		(77,262	)		(258,307	)		—		(1,007,716	)
Options written		—		—		231,701			—			44,893			—		276,594
Swaps		—		132,315		—			—			7,073			—		139,388
	$	—	$	132,315	$	(440,446	)	$	(236,388	)	$	(324,857	)	$	—	$	(869,376	)
Net Change in Unrealized Appreciation (Depreciation) on
Futures contracts	$	—	$	—	$	—		$	—		$	90,175		$	—	$	90,175

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Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO)

	Commodity Contracts		Credit Contracts		Equity Contracts			Foreign Currency Exchange Contracts		Interest Rate Contracts			Other Contracts		Total
Forward foreign currency exchange contracts	$	—	$	—	$	—		$	1,103,617	$	—		$	—	$	1,103,617
Options purchased(b)		—		—		(11,658	)		60,962		90,037			—		139,341
Options written		—		—		(1,398	)		—		(25,406	)		—		(26,804	)
Swaps		—		317,296		—			—		(18,407	)		—		298,889
	$	—	$	317,296	$	(13,056	)	$	1,164,579	$	136,399		$	—	$	1,605,218

^(a)  Options purchased are included in net realized gain (loss) from investments — unaffiliated.

^(b)  Options purchased are included in net change in unrealized appreciation (depreciation) on investments — unaffiliated.

Average Quarterly Balances of Outstanding Derivative Financial Instruments    

Futures contracts
Average notional value of contracts — long	$	1,348,879
Average notional value of contracts — short	$	17,976,317
Forward foreign currency exchange contracts
Average amounts purchased — in USD	$	38,522,635
Average amounts sold — in USD	$	12,630,784
Options
Average value of option contracts purchased	$	185,837
Average value of option contracts written	$	85,657
Average notional value of swaption contracts purchased	$	3,900,000
Average notional value of swaption contracts written	$	—	(a)
Credit default swaps
Average notional value — sell protection	$	8,029,318
Interest rate swaps
Average notional value — pays fixed rate	$	14,825,000
Average notional value — receives fixed rate	$	—	(a)

^(a)  Derivative not held at any quarter-end. The risk exposure table serves as an indicator of activity during the period.

For more information about the Trust’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Derivative Financial Instruments — Offsetting as of Period End

The Trust’s derivative assets and liabilities (by type) were as follows:

	Assets			Liabilities
Derivative Financial Instruments
Futures contracts	$	—		$	1,050
Forward foreign currency exchange contracts		703,626			196,484
Options		93,240	(a)		51,060
Swaps — centrally cleared		—			23,763
Swaps — OTC(b)		207,604			825,741
Total derivative assets and liabilities in the Statements of Assets and Liabilities		1,004,470			1,098,098
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”)		(93,240	)		(75,873	)
Total derivative assets and liabilities subject to an MNA	$	911,230		$	1,022,225

^(a)  Includes options purchased at value which is included in Investments at value — unaffiliated in the Statements of Assets and Liabilities and reported in the Schedule of Investments.

^(b)  Includes unrealized appreciation (depreciation) on OTC swaps and swap premiums (paid/received) in the Statements of Assets and Liabilities.

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Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO)

The following table presents the Trust’s derivative assets and liabilities by counterparty net of amounts available for offset under an MNA and net of the related collateral received (and pledged) by the Trust:

Counterparty		Derivative Assets Subject to an MNA by Counterparty		Derivatives Available for Offset	(a)		Non-Cash Collateral Received		Cash Collateral Received			Net Amount of Derivative Assets	(b)(c)
Bank of America N.A.	$	173,195	$	(173,195	)	$	—	$	—		$	—
Barclays Bank PLC		33,106		—			—		—			33,106
BNP Paribas S.A.		460,079		—			—		—			460,079
Deutsche Bank AG		782		—			—		—			782
Morgan Stanley & Co. International PLC		208,208		(208,208	)		—		—			—
State Street Bank and Trust Co.		9,604		(9,604	)		—		—			—
UBS AG		26,256		(1,571	)		—		—			24,685
	$	911,230	$	(392,578	)	$	—	$	—		$	518,652
Counterparty		Derivative Liabilities Subject to an MNA by Counterparty		Derivatives Available for Offset	(a)		Non-Cash Collateral Pledged		Cash Collateral Pledged			Net Amount of Derivative Liabilities	(b)(d)
Bank of America N.A.	$	180,014	$	(173,195	)	$	—	$	—		$	6,819
Citibank N.A.		1,650		—			—		—			1,650
HSBC Bank USA N.A.		3,204		—			—		—			3,204
Morgan Stanley & Co. International PLC		825,741		(208,208	)		—		(610,000	)		7,533
State Street Bank and Trust Co.		10,045		(9,604	)		—		—			441
UBS AG		1,571		(1,571	)		—		—			—
	$	1,022,225	$	(392,578	)	$	—	$	(610,000	)	$	19,647

^(a)  The amount of derivatives available for offset is limited to the amount of derivative asset and/or liabilities that are subject to an MNA.

^(b)  Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized.

^(c)  Net amount represents the net amount receivable from the counterparty in the event of default.

^(d)  Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities.

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Trust’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy. The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2		Level 3		Total
Assets
Investments
Long-Term Investments
Asset-Backed Securities	$	—	$	27,426,977	$	250,975	$	27,677,952
Common Stocks
United States		1,356,624		449,311		23,384		1,829,319
Corporate Bonds
Argentina		—		685,397		—		685,397
Australia		—		227,510		—		227,510
Austria		—		196,710		—		196,710
Bahrain		—		222,725		—		222,725
Bermuda		—		373,745		—		373,745
Brazil		—		2,863,138		—		2,863,138
British Virgin Islands		—		201,038		—		201,038
Canada		—		2,031,229		890,724		2,921,953
Cayman Islands		—		3,561,296		—		3,561,296
Chile		—		537,482		—		537,482
China		—		5,779,448		—		5,779,448

S C H E D U L E    O F    I N V E S T  M E N T S 25

Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO)

Fair Value Hierarchy as of Period End (continued)

	Level 1			Level 2			Level 3		Total
Corporate Bonds (continued)
Colombia	$	—		$	263,629		$	—	$	263,629
Denmark		—			415,336			—		415,336
Dominican Republic		—			732,944			—		732,944
France		—			5,002,144			—		5,002,144
Germany		—			2,929,043			—		2,929,043
Guatemala		—			583,815			—		583,815
Hong Kong		—			74,163			—		74,163
India		—			1,466,072			—		1,466,072
Indonesia		—			736,800			—		736,800
Ireland		—			771,916			—		771,916
Israel		—			462,510			—		462,510
Italy		118,900			1,858,032			—		1,976,932
Japan		—			332,453			—		332,453
Lithuania		—			222,631			—		222,631
Luxembourg		—			985,456			—		985,456
Macau		—			418,450			—		418,450
Mauritius		—			687,584			—		687,584
Mexico		—			2,611,662			—		2,611,662
Netherlands		—			3,511,561			—		3,511,561
Panama		—			1,397,384			—		1,397,384
Peru		—			425,485			—		425,485
Portugal		—			387,296			—		387,296
Saudi Arabia		—			317,906			—		317,906
Singapore		—			1,006,250			—		1,006,250
South Africa		—			225,000			—		225,000
Spain		—			1,057,214			—		1,057,214
Sweden		—			289,177			—		289,177
Switzerland		—			166,186			—		166,186
Thailand		—			207,413			—		207,413
Ukraine		—			397,700			—		397,700
United Arab Emirates		—			375,082			—		375,082
United Kingdom		—			4,299,366			—		4,299,366
United States		—			26,178,681			1,410,043		27,588,724
Vietnam		—			250,281			—		250,281
Floating Rate Loan Interests		—			18,460,644			569,085		19,029,729
Foreign Agency Obligations		—			8,485,340			—		8,485,340
Non-Agency Mortgage-Backed Securities		—			25,701,893			696,580		26,398,473
Preferred Securities
Capital Trusts		—			8,126,357			—		8,126,357
U.S. Government Sponsored Agency Securities		—			1,708,695			—		1,708,695
Warrants		259,899			—			—		259,899
Short-Term Securities
Money Market Funds		18,518,658			—			—		18,518,658
Options Purchased
Equity Contracts		93,240			—			—		93,240
Unfunded Floating Rate Loan Interests		—			10			—		10
	$	20,347,321		$	168,085,567		$	3,840,791	$	192,273,679
Derivative Financial Instruments(a)
Assets
Credit Contracts	$	—		$	207,604		$	—	$	207,604
Foreign Currency Exchange Contracts		—			703,626			—		703,626
Interest Rate Contracts		—			4,240			—		4,240
Liabilities
Equity Contracts		(51,060	)		—			—		(51,060	)
Foreign Currency Exchange Contracts		—			(196,484	)		—		(196,484	)
Interest Rate Contracts		(1,508	)		(22,647	)		—		(24,155	)
	$	(52,568	)	$	696,339		$	—	$	643,771

^(a) Derivative financial instruments are swaps, futures contracts, forward foreign currency exchange contracts and options written. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value.

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Schedule of Investments  (unaudited) (continued) June 30, 2021 BlackRock 2022 Global Income Opportunity Trust (BGIO)

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

	Asset-Backed Securities		Common Stocks			Corporate Bonds			Floating Rate Loan Interests			Non-Agency Mortgage-Backed Securities			Total
Assets
Opening balance, as of December 31, 2020	$	—	$	61,356		$	1,848,339		$	43,676		$	964,425		$	2,917,796
Transfers into Level 3		—		—			—			269,205			—			269,205
Transfers out of Level 3		—		—			—			(43,676	)		(236,664	)		(280,340	)
Accrued discounts/premiums		—		—			25,792			896			—			26,688
Net realized gain (loss)		—		—			2,248			104			—			2,352
Net change in unrealized appreciation (depreciation)(a)(b)		975		(94,972	)		430,635			22,215			6,349			365,202
Purchases		250,000		57,000			70,235			285,565			—			662,800
Sales		—		—			(76,482	)		(8,900	)		(37,530	)		(122,912	)
Closing balance, as of June 30, 2021	$	250,975	$	23,384		$	2,300,767		$	569,085		$	696,580		$	3,840,791
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2021(b)	$	975	$	(94,972	)	$	430,635		$	22,215		$	6,349		$	365,202

^(a)  Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations.

^(b)  Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2021 is generally due to investments no longer held or categorized as Level 3 at period end.

The following table summarizes the valuation approaches used and unobservable inputs utilized by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) to determine the value of certain of the Trust’s Level 3 financial instruments as of period end. The table does not include Level 3 financial instruments with values based upon unadjusted third party pricing information in the amount of $1,516,640. A significant change in third party information could result in a significantly lower or higher value of such Level 3 financial instruments.

	Value		Valuation Approach		Unobservable Inputs		Range of Unobservable Inputs Utilized(a)		Weighted Average of Unobservable Inputs Based on Fair Value
Assets
Common Stocks	$	23,384		Market		EBITDA Multiple		3.50x		—
Corporate Bonds		2,300,767		Income		Discount Rate		4% - 11%		10	%
				Market		EBITDA Multiple		3.50x		—
	$	2,324,151

^(a) A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value.

See notes to financial statements.

S C H E D U L E    O F    I N V E S T  M E N T S 27

Schedule of Investments  (unaudited)  June 30, 2021 BlackRock Income Trust, Inc. (BKT) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Asset-Backed Securities
Small Business Administration Participation Certificates, Series 2000-1, 1.00%, 03/15/21(a)	$	7	$	—
Sterling Coofs Trust(a)