UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:__811-21566______

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

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

Robert S. Kapito, President
BlackRock Global Floating Rate Income Trust
40 East 52nd Street, New York, NY 10022
(Name and address of agent for service)

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

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

Item 1. Schedule of Investments.
The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

PORTFOLIO OF INVESTMENTS
MARCH 31, 2006 (unaudited)

BlackRock Global Floating Rate Income Trust (BGT)
  Principal           
    Amount          
Rating1   (000)   Description   Value  
      LONG-TERM INVESTMENTS—160.3%    
        Corporate Bonds—20.3%    
        Aerospace & Defense—0.2%    
B-   $     735   DI Finance/DynCorp. Intl., 9.50%, 2/15/13   $        764,400  
        Automotive—0.3%    
BB   210   ArvinMeritor, Inc., 8.75%, 3/01/12   208,950  
CCC-   525 2 Delco Remy Intl., Inc., 9.068%, 4/15/09   497,438  
CCC   40   Dura Operating Corp., 8.625%, 4/15/12   32,200  
B-   15   Goodyear Tire & Rubber Co., 7.857%, 8/15/11   14,700  
        Lear Corp.,    
B-   330       Ser. B, 5.75%, 8/01/14   266,475  
B-   220       Ser. B, 8.11%, 5/15/09   204,600  
CCC+   220   Metaldyne Corp., 10.00%, 11/01/13   205,700  
B   40   Tenneco, Inc., 8.625%, 11/15/14   40,000  
            1,470,063  
        Basic Materials—1.5%    
B+   40   Abitibi-Consolidated Co., 8.375%, 4/01/15 (Canada)   39,200  
B+   1,000 2 Abitibi-Consolidated, Inc., 8.41%, 6/15/11 (Canada)   1,000,000  
B+   260 2 Boise Cascade LLC, 7.943%, 10/15/12   263,250  
B+   1,040 2 Bowater, Inc., 7.91%, 3/15/10   1,045,200  
B+   70   Donohue Forest Products, 7.625%, 5/15/07 (Canada)   70,963  
B+   750   Hercules, Inc., 6.75%, 10/15/29   735,000  
        Ineos Group Holdings PLC (United Kingdom)  
B2   225       7.875%, 2/07/16   263,123  
B2   200 3     8.50%, 2/15/16   190,000  
BBB-   95   Intl. Steel Group, Inc., 6.50%, 4/15/14   94,287  
        Lyondell Chemical Co.,    
BB-   300       11.125%, 7/15/12   330,000  
BB-   300       Ser. A, 9.625%, 5/01/07   309,750  
B-   565   Nalco Co., 8.875%, 11/15/13   589,012  
        NewPage Corp.,    
B3   80       10.00%, 5/01/12   84,400  
B3   1,500 2     10.93%, 5/01/12   1,582,500  
B-   50 3 PQ Corp., 7.50%, 2/15/13   48,250  
            6,644,935  
        Building & Development—0.3%    
B+   1,000 2 Ainsworth Lumber Co. Ltd., 8.71%, 10/01/10 (Canada)   995,000  
B2   90 3 Compression Polymers Corp., 10.50%, 7/01/13   91,800  
B-   195   Goodman Global Holding Co., Inc., 7.875%, 12/15/12   192,563  
B   60   North American Energy Partners, Inc., 9.00%, 6/01/10 (Canada)   63,600  
            1,342,963  
        Consumer Products—0.7%    
B3   45   ALH Finance LLC, 8.50%, 1/15/13   44,213  
B-   400   Cenveo Corp., 7.875%, 12/01/13   389,000  
CCC   1,050 2 Duane Reade, Inc., 9.41%, 12/15/10   1,039,500  
B-   75   Finlay Fine Jewelry Corp., 8.375%, 6/01/12   65,812  
B   40   Gold Kist, Inc., 10.25%, 3/15/14   43,200  
B-   555 3 Knowledge Learning Corp., Inc., 7.75%, 2/01/15   527,250  
B-   400   Lazydays RV Center, Inc., 11.75%, 5/15/12   395,000  
B-   180 2 Levi Strauss & Co., 9.74%, 4/01/12   186,300  
CCC-   135   Movie Gallery, Inc., 11.00%, 5/01/12   66,825  
B-   385 3 Rite Aid Corp., 6.125%, 12/15/08   371,525  
            3,128,625  

1

BlackRock Global Floating Rate Income Trust (BGT) (continued)
  Principal           
    Amount        
Rating1   (000)   Description   Value  
        Containers & Packaging—0.0%    
B2   $     150   Smurfit-Stone Container Enterprises, Inc., 9.75%, 2/01/11   $     154,500  
        Ecological Services & Equipment—0.1%    
BB-   625   Allied Waste NA, Inc., 5.75%, 2/15/11   592,188  
        Energy—8.0%    
BB-   750 3 AES Corp., 9.00%, 5/15/15   811,875  
B1   130   ANR Pipeline Co., 9.625%, 11/01/21   159,575  
B   80 3 Chaparral Energy, Inc., 8.50%, 12/01/15   83,000  
BB   70   Compagnie Generale de Geophysique SA, 7.50%, 5/15/15 (France)   72,100  
B   375   El Paso Production Holding Co., 7.75%, 6/01/13   390,000  
B1   750   Foundation Pennsylvania Coal Co., 7.25%, 8/01/14   757,500  
BB+   14,430   Gazprom OAO, 9.625%, 3/01/13 (Russia)   17,064,918  
B-   730   KCS Energy, Inc., 7.125%, 4/01/12   726,350  
B1   95   NRG Energy, Inc., 7.375%, 2/01/16   97,256  
        Pemex Project Funding Master Trust,    
BBB   800       9.375%, 12/02/08   870,000  
Baa1   12,700 2     Ser. 15, 6.868%, 10/15/09   13,290,550  
        Reliant Energy, Inc.,    
B   180       6.75%, 12/15/14   160,200  
B   750       9.25%, 7/15/10   751,875  
B2   300   Whiting Petroleum Corp., 7.25%, 5/01/13   299,250  
B+   590   Williams Cos., Inc., 8.75%, 3/15/32   688,825  
            36,223,274  
        Entertainment & Leisure—0.1%    
B3   155 3 Greektown Holdings LLC, 10.75%, 12/01/13   158,487  
BB   275   MGM Mirage, 5.875%, 2/27/14   258,500  
B   25   Poster Financial Group, Inc., 8.75%, 12/01/11   26,313  
B+   40 3 San Pasqual Casino, 8.00%, 9/15/13   40,400  
B+   20   Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 6.625%, 12/01/14   19,550  
            503,250  
        Financial Institutions—3.6%    
B+   93   AES Ironwood LLC, 8.857%, 11/30/25   104,280  
Ba3   2,000   Alrosa Finance Ltd., 8.125%, 5/06/08 (Luxembourg)   2,092,500  
BB   140   American Real Estate Partners LP/American Real Estate Finance Corp., 7.125%, 2/15/13   137,900  
BB   750   Crum & Forster Holdings Corp., 10.375%, 6/15/13   768,750  
BB-   60   Ford Motor Credit Co., 7.25%, 10/25/11   53,939  
BB   3,000 2 General Motors Acceptance Corp., 5.968%, 1/16/07   2,959,675  
BB+   5,455   Kazkommerts Intl. BV, 8.50%, 4/16/13 (Netherlands)   5,805,211  
BB+   3,000 3 Kazkommertsbank Intl. BV, 8.50%, 4/16/13 (Netherlands)   3,150,000  
BBB   25 2 Marsh & McLennan Cos., Inc., 5.19%, 7/13/07   24,917  
B+   750 3 Rainbow National Services LLC, 8.75%, 9/01/12   798,750  
B-   300 2 Universal City Florida Holding Co. I/II, 9.43%, 5/01/10   306,000  
            16,201,922  
        Health Care—0.3%    
B   280 3 Angiotech Pharmaceuticals, Inc., 7.75%, 4/01/14 (Canada)   281,400  
NR   10 4 Curative Health Services, Inc., 10.75%, 5/01/11   5,800  
B-   75   Select Medical Corp., 7.625%, 2/01/15   67,688  
B   70   Tenet Healthcare Corp., 6.875%, 11/15/31   55,825  
B-   830   Universal Hospital Services, Inc., 10.125%, 11/01/11   859,050  
            1,269,763  
        Industrials—0.4%    
B-   180   NationsRent Cos., Inc., 9.50%, 5/01/15   195,075  
CCC+   325   Park-Ohio Industries, Inc., 8.375%, 11/15/14   307,938  
B3   210 3 Sunstate Equipment Co. LLC, 10.50%, 4/01/13   222,600  
CCC+   445   Trimas Corp., 9.875%, 6/15/12   392,712  
B   750   United Rentals NA, Inc., 7.00%, 2/15/14   720,000  
            1,838,325  

2

BlackRock Global Floating Rate Income Trust (BGT) (continued)
  Principal           
    Amount        
Rating1   (000)   Description   Value  
      Media—0.6%    
B+   $ 100 2,5 Cablevision Systems Corp., 9.62%, 4/01/09   $      105,250  
        Charter Communications Holdings II, LLC/Charter Communications Holdings II Capital Corp.,    
CCC-   45 3     10.25%, 9/15/10   44,100  
CCC-   780       10.25%, 9/15/10   768,300  
B+   120   CSC Holdings, Inc., 7.875%, 12/15/07   122,700  
        Echostar DBS Corp.,    
BB-   750       6.375%, 10/01/11   734,062  
BB-   300 3     7.125%, 2/01/16   294,750  
B2   80 3 Network Communications, Inc., 10.75%, 12/01/13   81,400  
B3   70   Nexstar Finance, Inc., 7.00%, 1/15/14   66,150  
B2   350 2,3 Paxson Communications Corp., 8.318%, 1/15/12   352,625  
B   250 3 R.H. Donnelley Corp., 8.875%, 1/15/16   260,000  
CCC+   100 3 Unity Media GmbH, 10.375%, 2/15/15 (Germany)   104,000  
            2,933,337  
        Real Estate—1.3%    
BB+   6,350   Rouse Co., 5.375%, 11/26/13   5,943,610  
        Technology—0.8%    
BBB-   1,500 2 Freescale Semiconductor, Inc., 7.818%, 7/15/09   1,533,750  
B+   1,875 2 MagnaChip Semiconductor SA/MagnaChip Semiconductor Finance Co., 8.16%, 12/15/11 (Luxembourg)   1,898,437  
B-   250 2,3 Sungard Data Systems, Inc., 9.431%, 8/15/13   262,500  
B   140   Superior Essex Communications LLC/Essex Group, Inc., 9.00%, 4/15/12   141,050  
            3,835,737  
        Telecommunications—1.8%    
B1   810   Cincinnati Bell, Inc., 7.25%, 7/15/13   836,325  
        Dobson Cellular Systems, Inc.,    
B1   350       8.375%, 11/01/11   370,125  
B1   325 2     9.43%, 11/01/11   336,375  
B3   115 2,3 Hawaiian Telcom Communications, Inc., 9.948%, 5/01/13   113,275  
B   75   Intelsat Ltd., 5.25%, 11/01/08 (Bermuda)   70,688  
        Intelsat Subsidiary Holding Co. Ltd. (Bermuda)    
B+   50       8.25%, 1/15/13   50,875  
B+   200       8.625%, 1/15/15   207,000  
B+   485 2     9.614%, 1/15/12   495,912  
B   2,350 2 Qwest Communications Intl., Inc., 8.249%, 2/15/09   2,397,000  
BB+   2,500 2 Qwest Corp., 8.16%, 6/15/13   2,737,500  
BB   400 2 Rogers Wireless Communications, Inc., 8.035%, 12/15/10 (Canada)   411,000  
B-   150 3 Wind Acquisition Finance SA, 10.75%, 12/01/15 (Luxembourg)   161,437  
            8,187,512  
        Transportation—0.3%    
B1   30 3 Hertz Corp., 8.875%, 1/01/14   31,200  
B3   315   Horizon Lines LLC, 9.00%, 11/01/12   333,113  
B+   750   OMI Corp., 7.625%, 12/01/13 (Marshall Island)   765,000  
            1,129,313  
        Total Corporate Bonds   92,163,717  
        Bank Loans—109.5%    
        Aerospace & Defense—1.8%    
    2,955   Caci Intl., Inc., LIBOR + 1.50%, 5/03/11   2,980,743  
    968   Camp Acquisition Co., Loan A, LIBOR + 3.25%, 8/30/11   970,161  
    993   Dyncorp International LLC, Loan B, LIBOR + 2.75%, 2/11/11   1,004,492  
    2,000   MRO Acquisition LLC, LIBOR + 5.25%, 8/15/11   2,030,000  
    826   Standard Aero Holdings, Inc., LIBOR + 2.25%, 8/20/12   824,662  
    493   US Investigations Services LLC, Loan B, LIBOR + 2.50%, 10/14/12   498,849  
            8,308,907  

3

BlackRock Global Floating Rate Income Trust (BGT) (continued)
  Principal        
    Amount        
Rating1   (000)   Description   Value  
      Automotive—2.9%    
        Goodyear Tire & Rubber Co.,    
    $     500       LIBOR + 2.75%, 4/30/10   $     506,771  
    1,000       LIBOR + 3.50%, 4/01/11   1,013,542  
    750   IAP Worldwide Services, Inc., LIBOR + 3.00%, 12/30/12   757,500  
    500   Keystone Automotive, Inc., Loan C, LIBOR + 2.50%, 10/30/10   501,250  
    926   Metaldyne Co. LLC, Loan D, LIBOR + 4.50%, 12/31/09   942,485  
    1,750   Polar Corp., LIBOR, 6/15/10   1,767,500  
    501   Precision Parts Intl., Loan B, LIBOR + 3.75%, 10/01/11   501,250  
    1,249   Progressive Moulded Products Ltd., Loan B, LIBOR + 4.50%, 8/16/11   1,031,458  
    2,993   TI Group Automotive Systems, Loan C, LIBOR + 3.25%, 6/30/11   2,925,854  
        TRW Automotive Acquisitions Corp.,    
    486       Loan B, LIBOR + 1.50%, 6/30/12   487,349  
    2,481       Loan E, LIBOR + 1.50%, 10/31/10   2,493,036  
            12,927,995  
        Basic Materials—13.0%    
    2,709   Appleton Papers, Inc., LIBOR + 2.25%, 6/11/10   2,734,328  
        Basell NV,    
    500       Loan B2, LIBOR + 2.50%, 9/07/13   508,125  
    500       Loan C2, LIBOR + 3.00%, 9/07/14   508,125  
    995   Berry Plastics Corp., LIBOR + 2.00%, 12/02/11   1,008,474  
    1,829   Boise Cascade Corp., Loan D, LIBOR + 1.75%, 10/29/11   1,851,829  
        Brenntag Group,    
    2,000       LIBOR + 2.50%, 1/17/14   2,028,500  
    1,000       LIBOR + 6.50%, 7/17/15   1,007,500  
    791   Buckeye Technologies, Inc., LIBOR + 2.00%, 3/15/08   791,709  
    3,588   Celanese AG, LIBOR + 2.00%, 4/06/11   3,639,032  
    2,000   Cognis Deutschland, LIBOR + 4.75%, 11/15/13   2,040,834  
    971   Compass Minerals Group, Inc., LIBOR + 1.50%, 12/22/12   977,197  
    1,426   Foundation Coal Corp., Loan B, LIBOR + 1.75%, 7/30/11   1,446,024  
    988   Hercules, Inc., Loan B, LIBOR + 1.50%, 10/08/10   994,226  
    7,195   Huntsman Intl. LLC, Loan B, LIBOR + 1.75%, 8/16/12   7,238,093  
        Ineos Group Ltd.,    
    2,250       Loan A4, LIBOR + 2.25%, 12/16/12   2,272,500  
    1,750       Loan B2, LIBOR + 2.25%, 12/16/13   1,763,155  
    1,750       Loan C2, LIBOR + 2.75%, 12/16/13   1,775,156  
    3,780   Innophos, Inc., 0.50%, 8/13/10   3,828,826  
        Invista B.V.,    
    2,477       Loan B1, LIBOR + 1.75%, 4/29/11   2,504,474  
    1,259       Loan B2, LIBOR + 1.75%, 4/29/11   1,265,236  
    2,000   ISP Chemco, Inc., LIBOR + 1.75%, 2/16/13   2,021,072  
    750   John Maneely Co., TBD   762,188  
    220   Kraton Polymers LLC, LIBOR + 2.50%, 12/23/10   222,887  
    5,831   Nalco Co., Loan B, PRIME + 0.75%, 11/04/10   5,889,025  
    496   PQ Corp., LIBOR + 2.00%, 2/11/12   503,073  
    499   Pregis Corp., Loan B2, LIBOR + 2.50%, 10/12/12   607,432  
    938   Professional Paint, Inc., LIBOR + 2.75%, 9/30/11   944,531  
    4,333   Rockwood Specialties Group, Inc., Loan E, LIBOR + 2.00%, 12/13/13   4,387,955  
    3,000   UPC Distribution Corp., Loan H1, LIBOR + 2.75%, 9/30/12   3,637,366  
            59,158,872  
        Building & Development—2.7%    
    242   Atrium Cos., Inc., LIBOR + 3.25%, 12/28/11   243,160  
    500   Contech Construction Products, Inc., LIBOR + 2.00%, 1/31/13   506,875  
    1,500   Custom Building Products, Inc., LIBOR + 5.00%, 4/29/12   1,505,625  
    500   Euramax Intl., Inc., LIBOR + 7.00%, 6/29/13   493,750  
    1,250   Harmon Koval, 3.25%, 11/18/07   1,253,125  

4

BlackRock Global Floating Rate Income Trust (BGT) (continued)
  Principal        
    Amount        
Rating1   (000)   Description   Value  
        Building & Development—(cont’d)    
    $ 2,000   Landsource Communities Development LLC, Loan B, LIBOR + 2.50%, 3/31/10   $    2,007,500  
    985   Nortek, Inc., Loan B, LIBOR + 2.00%, 8/27/11   993,619  
        Ply Gem Industries, Inc.,    
    1,641       TBD, 3/15/10   1,654,980  
    109       LIBOR, 8/15/11   110,332  
    975   Rhodes Ranch, LIBOR + 3.25%, 11/21/10   979,875  
    2,500   United Subcontractors, Inc., LIBOR + 3.00%, 12/27/12   2,500,000  
            12,248,841  
        Business Equipment & Services—0.2%    
    990   Latham Intl., LIBOR + 3.75%, 12/31/10   1,001,144  
        Conglomerates—6.7%    
        Atlantis Plastics, Inc.,    
    993       LIBOR + 2.75%, 9/30/11   1,004,906  
    750       LIBOR + 7.25%, 9/30/11   755,625  
    1,500   Blount Intl., TBD   1,511,250  
    5,000   Colfax Intl., LIBOR + 2.25%, 11/30/11   6,081,969  
    2,757   Fidelity National Information Solutions, Inc., Loan B, LIBOR + 1.75%, 3/09/13   2,777,846  
    500   Gentek, Inc., LIBOR + 5.75%, 3/15/12   501,875  
    3,448   Honeywell Security, Loan B, LIBOR + 3.25%, 6/28/10   3,469,085  
        Invensys Intl. Holdings Ltd.,    
    1,727       0.50%, 3/05/09   1,675,369  
    2,000       LIBOR + 4.75%, 11/30/09   2,042,500  
    558       Loan B1, LIBOR + 3.50%, 9/05/09   562,808  
        Jarden Corp.,    
    1,540       PRIME + 1.00%, 1/24/12   1,555,602  
    500       Loan B2, PRIME + 0.75%, 1/24/12   503,000  
    483       Loan B3, PRIME, 1/24/12   486,219  
    462   Lionbridge Technologies, Inc., LIBOR + 3.50%, 9/01/11   464,813  
    998   Mueller Group, Inc., Loan B, LIBOR + 2.25%, 10/03/12   1,009,969  
    384   Penn Engineering & Manufacturing, LIBOR + 2.50%, 5/25/11   387,881  
    2,439   Polypore, Inc., LIBOR + 3.00%, 11/12/11   2,458,262  
    670   Rexnord Corp., PRIME + 1.00%, 12/31/11   675,922  
    2,488   Sungard Data Systems, Inc., Loan B, LIBOR + 2.50%, 2/11/13   2,519,927  
            30,444,828  
        Consumer Products—15.2%    
    1,000   24 Hour Fitness Worldwide, Inc., Loan B, LIBOR + 3.00%, 6/08/12   1,012,500  
    466   Adams Outdoor Advertising LP, LIBOR + 2.00%, 10/18/12   472,345  
    2,000   Aearo Technologies, TBD   2,036,875  
    1,985   Alliance One International, Inc., Loan B, LIBOR + 3.50%, 5/13/10   2,004,850  
    497   Arby’s Restaurant Group, Inc., Loan B, LIBOR + 2.25%, 7/25/12   503,097  
        Berkline Bench Craft,    
    2,000       LIBOR + 10.00%, 4/30/12   1,500,000  
    1,604       Loan B, LIBOR + 3.75%, 11/03/11   1,547,760  
    2,750   Burger King Corp., Loan B, TBD, 6/30/12   2,765,468  
    940   Carrols Corp., LIBOR + 2.50%, 12/31/10   953,219  
    497   Centerplate, Inc., LIBOR + 3.25%, 10/01/10   500,603  
    1,000   Central Garden & Pet Co., Loan B, LIBOR + 1.50%, 9/30/12   1,006,667  
    496   Chiquita Brands Intl., Inc., Loan B, TBD, 6/28/12   500,799  
    1,113   CKE Restaurants, Inc., LIBOR + 2.00%, 5/01/10   1,123,947  
        Coinmach Corp.,    
    404       Loan B1, 1.25%, 12/19/12   409,393  
    596       Loan B1, PRIME + 1.50%, 12/19/12   605,190  
    1,731   Commonwealth Brands, Inc., PRIME + 1.25%, 12/22/12   1,753,112  
    1,122   Constellation Brands, Inc., Loan B, LIBOR + 1.50%, 11/30/11   1,135,707  
    743   Culligan Intl. Co., Loan B, LIBOR + 2.50%, 9/30/11   752,709  
    3,500   Denny’s Corp., LIBOR + 5.13%, 9/30/10   3,607,916  
    1,469   Desa Intl., Inc., LIBOR + 5.00%, 12/30/11   1,444,932  
        Eastman Kodak Co.,    
    368       Loan B1, LIBOR + 2.25%, 10/18/12   367,581  
    880       Loan B2, 1.50%, 10/18/12   889,880  

5

BlackRock Global Floating Rate Income Trust (BGT) (continued)
  Principal        
    Amount        
Rating1   (000)   Description   Value  
        Consumer Products—(cont’d)    
    $     1,500   Eight O’Clock Coffee, Loan B, LIBOR + 3.00%, 11/14/11   $    1,515,000  
    489   Fender Musical Instruments Corp., LIBOR + 4.50%, 9/30/12   496,208  
    224   Herbalife Intl., Inc., LIBOR + 1.75%, 12/20/10   226,210  
        Hertz Corp.,    
    174       1.13%, 12/21/12   175,524  
    745       LIBOR + 2.25%, 12/21/12   752,562  
    278       LIBOR + 2.50%, 12/21/12   281,357  
    684       PRIME + 1.25%, 12/21/12   692,813  
    748   Knoll, Inc., LIBOR + 1.75%, 10/03/12   757,711  
    990   Landry’s Restaurants, Inc., Loan B, LIBOR + 1.75%, 12/28/10   999,900  
    741   Language Line, Inc., Loan B, LIBOR + 4.25%, 6/10/11   744,190  
    575   Le-Natures, Inc., Loan B, LIBOR + 3.00%, 6/23/10   575,001  
    1,917   Maidenform, Inc., LIBOR + 1.75%, 5/11/10   1,921,458  
    996   Mapco Express, Inc., PRIME + 1.75%, 4/28/11   1,009,926  
    500   MD Beauty, Inc., LIBOR + 7.00%, 2/18/13   506,250  
    1,554   Movie Gallery, Inc., Loan B, LIBOR + 3.75%, 4/27/11   1,401,722  
    1,661   Neiman-Marcus Group, Inc., LIBOR + 2.50%, 4/06/13   1,684,089  
    1,990   New Page, Loan B, LIBOR + 3.00%, 5/02/11   2,019,850  
    3,500   Olympus Cable Holdings LLC, Loan B, PRIME + 2.00%, 9/30/10   3,427,501  
    591   Oreck Corp., Loan B, LIBOR + 2.75%, 1/27/12   598,395  
        Oriental Trading Co., Inc.,    
    1,500       LIBOR + 4.75%, 1/08/11   1,515,000  
    1,345       Loan B, LIBOR + 2.25%, 8/04/10   1,355,267  
    3,447   OSI Group LLC, LIBOR + 2.00%, 9/02/11   3,485,097  
    500   Pantry, Inc., LIBOR + 1.75%, 1/02/12   505,625  
    903   PBM Products LLC, Loan B, LIBOR + 3.00%, 7/26/11   911,036  
    2,312   Pierre Foods, Inc., Loan B, LIBOR + 1.75%, 6/30/10   2,335,625  
    750   Pivotal Promontory LLC, LIBOR + 6.50%, 8/31/11   749,375  
    1,965   Prestige Brands Holdings, Inc., Loan B, LIBOR + 2.25%, 4/06/11   1,987,106  
    1,000   Propex Fabrics, Inc., Loan B, LIBOR + 2.25%, 7/31/12   1,008,750  
        R.H. Donnelley Corp.,    
    345       Loan A3, LIBOR + 1.75%, 12/31/09   347,618  
    2,163       Loan D, LIBOR + 1.75%, 6/30/11   2,178,909  
    1,500   Roundy’s Supermarkets, Inc., LIBOR + 3.00%, 11/03/11   1,518,750  
    923   Spectrum Brands, Inc., Loan B, LIBOR + 2.50%, 2/06/12   933,788  
        Synventive Acquisition, Inc.,    
    804       LIBOR + 14.0%, 7/29/14   779,923  
    748       Loan B, LIBOR + 3.25%, 7/29/12   746,255  
    500   Travelcenters of America, Inc., Loan B, LIBOR + 1.75%, 12/01/11   504,625  
    948   Tupperware Corp., LIBOR + 1.50%, 12/05/12   948,980  
    525   Warnaco, Inc., Loan B, LIBOR + 1.50%, 1/31/13   525,656  
            69,017,602  
        Containers & Packaging—4.4%    
        Covalence Specialty Materials Corp.,    
    200       LIBOR + 3.25%, 8/16/13   204,813  
    500       Loan B, LIBOR + 1.75%, 2/16/13   506,250  
    349   Flexsol Packaging Corp., LIBOR + 3.25%, 11/30/11   349,606  
    1,500   Georgia-Pacific Corp., LIBOR + 3.00%, 12/20/13   1,531,875  
        Graham Packaging Co. LP,    
    5,687       Loan B, LIBOR + 2.25%, 10/07/11   5,757,975  
    2,000       Loan C, LIBOR + 4.25%, 4/07/12   2,042,500  
    3,425   Graphic Packaging Intl., Inc., Loan C, LIBOR + 2.50%, 8/08/10   3,476,054  
    499   Ranpak Corp., Loan B, LIBOR + 2.50%, 12/14/11   502,491  
        Smurfit-Stone Container Enterprises, Inc.,    
    898       Loan B, LIBOR + 2.25%, 11/01/11   909,485  
    750       Loan B1, LIBOR + 2.50%, 2/15/14   918,544  
    750       Loan C1, LIBOR + 3.00%, 2/15/15   922,958  
    2,947   Solo Cup, Inc., LIBOR + 2.50%, 2/27/11   2,975,613  
            20,098,164  

6

BlackRock Global Floating Rate Income Trust (BGT) (continued)
  Principal        
    Amount        
Rating1   (000)   Description   Value  
        Ecological Services & Equipment—0.9%    
    $ 1,913   Allied Waste NA, Inc., LIBOR + 2.00%, 1/15/12   $    1,920,941  
    2,000   Envirosolutions, Inc., 2.00%, 3/01/09   2,025,000  
            3,945,941  
        Energy—7.0%    
    1,500   AES Corp., LIBOR + 1.75%, 4/30/08   1,516,500  
    1,500   Astoria Generating Co. Acquisitions LLC, Loan B, LIBOR, 2/23/13   1,516,719  
        Boart Longyear Co.,    
    1,497       LIBOR + 3.00%, 7/28/12   1,518,694  
    500       LIBOR + 7.00%, 1/28/13   507,500  
    996   Cellnet Technology, Inc., Loan B, LIBOR + 3.00%, 4/26/12   1,008,681  
    1,496   Coffeyville Resources LLC, LIBOR + 2.50%, 6/24/12   1,513,733  
    430   Cogentrix Delaware Holdings, Inc., LIBOR + 1.75%, 4/14/12   434,419  
    500   Coleto Creek Power, Loan C1, LIBOR + 2.00%, 6/30/12   503,125  
    250   Complete Production Services, Inc., Loan B, PRIME + 1.50%, 9/12/12   252,492  
    1,975   El Paso Corp., 0.50%, 11/30/07   1,999,138  
    1,500   Key Energy Services, Inc., Loan B, LIBOR + 3.25%, 6/30/12   1,520,000  
    478   Mainline LP, LIBOR + 2.38%, 12/17/11   480,167  
    443   MGG Holdings, LIBOR + 2.00%, 6/30/12   447,058  
    1,000   Mirant NA LLC, Loan B, LIBOR + 1.75%, 1/03/13   1,008,036  
    8,000   NRG Energy, LIBOR + 2.00%, 2/01/13   8,094,963  
    1,250   Petro Geological Services, Loan B, LIBOR + 2.50%, 12/16/12   1,264,062  
    389   Petrohawk, PRIME + 3.50%, 7/31/10   393,750  
    1,000   Plum Point Energy Associates, TBD   1,008,750  
        Reliant Energy, Inc.,    
    1,997       LIBOR + 2.38%, 4/30/10   1,991,659  
    998       LIBOR + 2.38%, 9/30/10   999,786  
        Semcrude LP,    
    690       LIBOR + 2.50%, 3/16/11 (CND)   689,570  
    1,442       LIBOR + 2.50%, 3/16/11 (USD)   1,442,141  
        Wolf Hollow I LP,    
    100       0.50%, 6/22/12   100,938  
    500       LIBOR, 12/15/12   508,750  
    400       LIBOR + 2.25%, 6/22/12   403,938  
    500       Loan B, LIBOR + 2.25%, 6/22/12   504,687  
            31,629,256  
        Entertainment & Leisure—7.8%    
    995   Blockbuster Entertainment Corp., Loan B, LIBOR + 4.00%, 8/20/11   975,203  
    1,970   Boyd Gaming Corp., Loan B, LIBOR + 1.50%, 6/30/11   1,990,110  
    3,237   CCM Merger, Inc., Loan B, LIBOR + 2.00%, 7/13/12   3,260,315  
    1,000   Century Theatres, LIBOR + 1.88%, 3/01/13   1,011,250  
    2,000   Greektown Casino LLC, Loan B, LIBOR + 2.50%, 12/03/12   2,027,500  
    2,500   Hallmark Entertainment LLC, Loan B, LIBOR + 2.50%, 12/31/11   2,531,250  
    1,493   Hit Entertainment Ltd., LIBOR + 2.25%, 3/20/12   1,501,455  
        Hollywood Theaters, Inc.,    
    1,723       LIBOR + 3.25%, 7/31/09   1,736,678  
    2,500       LIBOR + 7.00%, 1/31/10   2,518,750  
    1,485   Kerasotes Theatres, Inc., Loan B, LIBOR + 2.50%, 10/31/11   1,491,188  
    5,000   Metro-Goldwyn-Mayer Studios, Inc., Loan B, LIBOR + 2.25%, 4/08/12   5,059,375  
    998   Penn National Gaming, Inc., Loan B, LIBOR + 1.75%, 10/03/12   1,009,969  
    750   Riverside Casino & Golf Resort LLC, Loan B, LIBOR + 4.00%, 11/30/11   750,000  
    991   Universal City Development Partners LP, Loan B, LIBOR + 2.00%, 6/09/11   1,001,962  
    1,500   Venetian Casino Resorts LLC, Loan B, LIBOR + 1.75%, 6/15/11   1,515,000  
        Wembley, Inc.,    
    995       LIBOR + 2.00%, 8/23/11   1,009,925  
    500       LIBOR + 3.75%, 8/23/12   508,125  
    1,099   Wyndham Intl., Inc., Loan E, LIBOR + 4.50%, 9/11/07   1,099,350  
    4,000   Wynn Las Vegas LLC, 1.00%, 12/14/11   4,038,332  
    484   Yellowstone Mountain Club, LIBOR + 2.38%, 9/30/10   485,210  
            35,520,947  

7

BlackRock Global Floating Rate Income Trust (BGT) (continued)
  Principal           
    Amount        
Rating1   (000)   Description   Value  
        Financial Institutions—7.6%    
    $     750   Ameritrade, Loan B, LIBOR + 1.50%, 12/31/12   $     754,079  
    1,185   Arias Acquisitions, Inc., LIBOR + 3.75%, 7/26/11   1,180,557  
    1,298   Global Cash Access LLC, LIBOR + 2.25%, 3/10/10   1,313,520  
    3,354   Jostens, Inc., Loan C, LIBOR + 2.25%, 10/04/11   3,397,347  
        N.E.W. Holdings I LLC,    
    876       LIBOR + 3.00%, 7/08/11   884,049  
    250       LIBOR + 7.00%, 6/30/12   253,750  
    2,000   Nasdaq Stock Market, Inc., Loan B, LIBOR + 1.50%, 12/08/11   2,013,334  
        Navistar Financial Corp.,    
    2,181       1.00%, 2/22/09   2,169,847  
    6,275       LIBOR + 5.00%, 2/22/09   6,275,633  
    3,000   NTL, Inc., Loan B, LIBOR + 3.00%, 4/13/12   3,022,500  
    1,500   Pinnoak Resources LLC, LIBOR, 11/23/12   1,515,000  
    1,250   Professional Service, Inc., Loan B, LIBOR + 3.00%, 10/31/12   1,256,250  
    1,965   Ripplewood Phosphorus US LLC, LIBOR + 3.25%, 7/20/11   1,957,631  
    484   Roller Bearing Co. of America, LIBOR + 2.50%, 6/30/11   486,587  
    6,000   Rouse Co., LIBOR + 1.30%, 8/21/06   6,000,000  
    1,500   Targa Resources Asset Sale, LIBOR + 2.25%, 10/31/07   1,503,750  
    462   USI Holdings Corp., Loan B, TBD, 8/11/08   464,141  
            34,447,975  
        Health Care—8.6%    
    3,876   Arizant, Inc., LIBOR + 3.75%, 8/15/10   3,890,472  
    2,000   CCS Medical, Loan B, LIBOR + 3.25%, 9/30/12   1,994,376  
    5,377   Community Health Systems, Inc., LIBOR + 1.75%, 8/19/11   5,444,137  
    3,492   Concentra Operating Corp., Loan B, LIBOR + 2.00%, 9/30/11   3,531,982  
    942   Davita, Inc., Loan B, LIBOR + 2.00%, 10/05/12   953,093  
    912   Duloxetine Royalty Sub., LIBOR + 4.50%, 10/15/13   921,433  
    6,000   HealthSouth Corp., TBD, 1/16/11   6,043,752  
    2,956   IASIS Healthcare Corp., Loan B, LIBOR + 2.25%, 6/22/11   2,993,170  
    2,657   Jean Coutu Group, Inc., Loan B, LIBOR + 2.25%, 7/30/11   2,682,350  
    530   Kinetic Concepts, Inc., Loan B2, LIBOR + 1.75%, 8/11/10   536,179  
    500   Radnet Management, Inc., Loan B, LIBOR + 4.00%, 3/15/11   498,750  
    993   Select Medical Corp., Loan B, LIBOR + 1.75%, 2/24/12   982,299  
    500   Triumph Healthcare Second Holdings, Inc., LIBOR + 8.50%, 8/31/12   460,000  
    3,022   US Oncology, Inc., LIBOR + 2.25%, 8/20/11   3,055,494  
    993   Vanguard Health Holding Co. II, LIBOR + 2.25%, 9/23/11   1,003,976  
        Warner Chilcott Corp.,    
    530       1.38%, 1/18/12   534,322  
    2,167       Loan B, LIBOR + 2.75%, 1/18/12   2,185,066  
    873       Loan C, LIBOR + 2.75%, 1/18/12   880,475  
    403       Loan D, LIBOR + 2.75%, 1/18/12   406,755  
            38,998,081  
        Industrials—2.4%    
        Acosta, Inc.,    
    1,250       LIBOR + 2.25%, 12/06/12   1,266,406  
    150       LIBOR + 5.75%, 6/06/13   154,687  
    422   Alderwoods Group, Inc., Loan B2, LIBOR + 2.00%, 9/29/09   425,468  
        Bolthouse Farms, Inc.,    
    1,000       LIBOR + 2.50%, 12/16/12   1,015,000  
    500       PRIME + 4.50%, 12/16/13   512,708  
    486   Chart Industries, Inc., Loan B, LIBOR + 2.00%, 10/17/12   494,011  
    2,000   Drummond Co., Inc., TBD   1,998,750  
    720   Novelis, Inc., Loan B, LIBOR + 1.75%, 1/07/12   726,761  
    625   QTC Acquisition, Inc., LIBOR + 6.50%, 5/04/13   624,609  
    2,000   Tinnerman Palnut Engineered Products, Inc., LIBOR + 7.25%, 11/01/11   1,920,000  
    1,578   Worldspan LP, LIBOR + 2.75%, 2/11/10   1,548,195  
            10,686,595  

8

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

  Principal           
    Amount        
Rating1   (000)   Description   Value  
        Media—16.6%    
    $ 1,844   Alliance Atlantis Communications, Inc., Loan C, LIBOR + 1.50%, 12/20/11   $    1,857,778  
    1,737   American Lawyers Media, Inc., PRIME + 1.50%, 3/05/10   1,742,664  
    1,000   American Media Operations, Inc., Loan B, LIBOR + 3.00%, 1/31/13   1,011,750  
    975   Bragg Communications, Inc., Loan B, LIBOR + 2.00%, 8/31/11   986,020  
    5,398 5 Cablecom SCA, TBD, 12/31/10   4,140,822  
    4,000   Cablevision Systems Corp., TBD   4,030,500  
    75   Caprock Holdings, Inc., Loan B, LIBOR + 3.50%, 2/01/12   74,625  
        Century TCI California LP,    
    2,000       PRIME + 0.75%, 12/31/07   1,985,416  
    10,000       PRIME + 2.00%, 12/31/09   9,754,170  
        Charter Communications Operating LLC,    
    5,993       Loan A, LIBOR + 3.00%, 4/27/10   6,041,461  
    1,968       Loan B, LIBOR + 3.25%, 4/07/11   1,983,613  
    3,479   Dex Media East LLC, Loan B, LIBOR + 1.75%, 5/08/09   3,506,114  
        Dex Media West LLC,    
    1,000       Loan B1, 0.50%, 3/09/10   1,004,821  
    1,592       Loan B, LIBOR + 1.75%, 3/09/10   1,604,204  
    2,000   DirecTV Holdings LLC, Loan B, LIBOR + 1.50%, 4/13/13   2,021,250  
    863   Emmis Communications Co., Loan B, PRIME + 0.75%, 11/10/11   867,185  
    5,000   Eutelsat SA, Loan B1, LIBOR + 2.00%, 4/04/13   6,090,804  
        Insight Midwest Holdings LLC,    
    3,777       Loan A, LIBOR + 1.25%, 6/30/09   3,782,102  
    2,985       Loan C, LIBOR + 2.00%, 12/31/09   3,025,134  
    1,500   Liberty Cablevision of Puerto Rico Ltd., LIBOR + 2.25%, 3/01/13   1,512,187  
        Mediacom Communications Corp.,    
    2,045       Loan A, LIBOR + 1.50%, 3/31/10   2,040,793  
    993       Loan C, LIBOR + 2.00%, 2/01/14   1,004,441  
    1,980   Mediacom Illinois LLC, Loan B, LIBOR + 2.25%, 3/31/13   2,005,679  
    1,941   Mission Broadcasting, Inc., Loan B, LIBOR + 1.75%, 8/14/12   1,947,520  
        NEP Supershooters LP,  
    693       LIBOR + 4.00%, 2/03/11   702,529  
    500       LIBOR + 8.00%, 2/01/11   495,000  
    1,976   Nexstar Broadcasting, Inc., Loan B, LIBOR + 1.75%, 8/14/12   1,982,478  
    750   Puerto Rico Cable Acquisition Co., LIBOR + 6.25%, 2/28/12   758,438  
    750   Quebecor Media, Inc., Loan B, LIBOR + 2.00%, 1/17/13   760,079  
    1,001   Triple Crown Media, Inc., PRIME + 2.25%, 6/30/10   997,500  
    1,000   UPC Distribution Corp., Loan H, LIBOR + 2.75%, 9/30/12   1,005,208  
    3,931   WMG Acquisition Corp., LIBOR + 2.00%, 2/28/11   3,978,660  
    497   Young Broadcasting, Inc., LIBOR + 2.25%, 11/03/12   497,811  
            75,198,756  
        Publishing—0.2%    
    750   Endurance Business Media, Loan B, LIBOR + 2.25%, 3/08/12   755,625  
        Real Estate—1.4%    
    1,058   Acoustical Materials, LIBOR + 2.75%, 4/13/12   1,065,625  
    2,596   Headwaters, Inc., PRIME + 1.25%, 4/30/11   2,614,129  
        Kyle Acquisition Group LLC,    
    50       LIBOR + 2.00%, 7/20/10   50,438  
    731       Loan B, LIBOR + 2.00%, 7/20/08   737,747  
    871   Lake Las Vegas Resort, LIBOR + 2.75%, 11/01/09   872,078  
        Masonite Intl. Corp.,    
    495       LIBOR + 2.00%, 4/05/13   488,644  
    1       LIBOR + 2.00%, 4/05/13 (CND)   616  
    1       LIBOR + 2.00%, 4/05/13 (USD)   617  
    404   Stewart Enterprises, Inc., Loan B, LIBOR + 1.75%, 11/19/11   407,522  
            6,237,416  

9

BlackRock Global Floating Rate Income Trust (BGT) (continued)
  Principal           
    Amount        
Rating1   (000)   Description   Value  
      Technology—2.4%    
    $    2,908   Directed Electronics, Inc., LIBOR + 2.25%, 3/15/10   $    2,926,319  
    496   Federal IT Systems, Inc., LIBOR + 2.75%, 4/01/11   499,662  
    500   Serena Software, Inc., Loan B, LIBOR, 3/11/13   506,688  
    353   SS&C Technologies, Inc., LIBOR + 2.50%, 11/23/12   355,913  
    2,240   UGS Corp., LIBOR + 2.00%, 3/31/12   2,265,618  
    2,875   Verifone, Inc., Loan B, LIBOR + 1.75%, 6/30/11   2,903,871  
    1,400   Westcom Corp., Loan B, LIBOR + 2.75%, 12/16/10   1,400,044  
            10,858,115  
        Telecommunications—7.1%    
    250   AAT Communications Corp., LIBOR + 1.75%, 7/27/12   250,625  
    1,000   Alaska Communications Systems Holdings, Inc., LIBOR + 1.75%, 1/31/12   1,008,250  
    2,000   Atlantic Broadband Finance LLC, Loan B1, LIBOR + 2.75%, 8/04/12   2,030,000  
    650   Cavalier Telecom, TBD   662,187  
    4,369   Centennial Cellular Operating Co., LIBOR + 2.25%, 2/09/11   4,427,368  
        Communication Supply Corp.,    
    96       TBD, 2/28/12   96,394  
    404       PRIME + 1.75%, 3/03/12   404,856  
    500   Country Road Communications LLC, LIBOR, 7/15/13   506,250  
    750   Fairpoint Communications, Inc., LIBOR + 1.75%, 2/08/12   755,437  
    990   Intelsat Zeus, Ltd., 0.75%, 7/28/11   997,734  
    2,000   Iowa Telecommunications Services, Inc., Loan B, LIBOR + 1.75%, 11/23/11   2,022,084  
        IPC Acquisition Corp.,    
    750       LIBOR + 7.25%, 8/05/12   760,625  
    961       PRIME + 1.75%, 8/05/11   973,778  
    1,000   Madison River Capital LLC, Loan B1, LIBOR + 2.25%, 7/29/12   1,011,563  
        NTELOS, Inc.,    
    743       LIBOR + 2.50%, 8/24/11   753,081  
    3,000       LIBOR + 5.00%, 2/25/12   3,052,500  
        PanAmSat Corp.,    
    1,248       Loan A1, LIBOR + 2.50%, 8/20/09   1,258,599  
    1,975       Loan B1, LIBOR + 2.00%, 8/20/11   1,999,687  
    2,000   Qwest Corp., Loan A, LIBOR + 4.75%, 6/30/07   2,048,000  
    450   Triton PCS, Inc., LIBOR + 3.25%, 11/18/09   452,505  
    1,933   Valor Telecommunication Enterprises II LLC, Loan B, LIBOR + 1.75%, 2/14/12   1,936,052  
        Wind Acquisition Finance SA,    
    2,000       Loan B, TBD   2,426,729  
    2,000       Loan C, TBD   2,438,847  
            32,273,151  
        Transportation—0.6%    
    875   Delta Air Lines, Inc., Loan A, LIBOR + 4.50%, 3/16/08   886,719  
    360   Sirva Worldwide, Inc., LIBOR + 4.00%, 12/01/10   357,271  
    628   Transport Industries LP, Loan B, LIBOR + 2.50%, 9/30/11   635,739  
    1,000   UAL Corp., TBD   1,016,250  
            2,895,979  
        Total Bank Loans   496,654,190  
        Foreign Government Bonds—30.5%    
B   11,840   Argentina Republic, 4.005%, 8/03/12   9,679,200  
BB-   5,809   Bolivarian Republic of Venezuela, 2.75%, 12/18/07   5,809,117  
        Federative Republic of Brazil,    
BB-   3,560       2.125%, 4/15/12   3,557,975  
BB   10,424       3.125%, 4/15/12   10,410,913  
BB   9,435 2     10.71%, 6/29/09   10,944,600  
BB   640       Ser. B, 10.00%, 8/07/11   751,040  
B+   1,600   Islamic Republic of Pakistan, 6.75%, 2/19/09   1,610,926  
BB+   5,689   Kingdom of Morocco, Zero Coupon, 1/02/09   5,688,887  
A-   800   Malaysia, 8.75%, 6/01/09   875,074  
A   2,400   Republic of Chile, 6.875%, 4/28/09   2,499,000  
BB   1,200 2,5 Republic of Colombia, 8.47%, 3/17/13   1,338,000  

10

BlackRock Global Floating Rate Income Trust (BGT) (continued)
  Principal           
    Amount        
Rating1   (000)   Description   Value  
      Foreign Government Bonds—(cont’d)    
BB   $ 3,200   Republic of Costa Rica, 9.335%, 5/15/09   $    3,488,000  
BB+   800   Republic of El Salvador, 9.50%, 8/15/06   811,600  
        Republic of Panama,    
BB   12,714       2.75%, 7/17/16   12,523,559  
BB   2,000       8.25%, 4/22/08   2,090,000  
        Republic of Peru,    
BB   5,432       4.50%, 3/07/17   5,119,660  
BB   2,400       9.125%, 1/15/08   2,526,000  
BBB+   2,400   Republic of South Africa, 7.375%, 4/25/12   2,597,280  
BB-   2,400   Republic of the Philippines, 8.875%, 4/15/08   2,556,612  
BB-   2,400   Republic of Turkey, 12.00%, 12/15/08   2,757,600  
B+   950   Republic of Uruguay, 6.875%, 1/19/16   1,221,772  
BB-   3,321   Republic of Venezuela, 3.063%, 3/31/07   3,321,074  
BBB   4,000   Russian Federation, 10.00%, 6/26/07   4,209,200  
A2   2,000 2 Sberbank of Russia, 6.37%, 10/24/06   2,011,800  
        Ukraine,    
BB-   2,800 3     6.875%, 3/04/11   2,823,800  
BB-   16,100 2,3     8.235%, 8/05/09   17,227,000  
        United Mexican States,    
BBB   4,800 2     5.75%, 1/13/09   4,852,800  
A   21,380       8.00%, 12/19/13 (MXN)   1,916,667  
A   16,945       9.00%, 12/20/12 (MXN)   1,600,178  
A   545       9.50%, 12/18/14 (MXN)   53,234  
        Venezuela Republic,    
BB-   4,000 2     6.075%, 4/20/11   4,022,000  
BB-   4,800       9.125%, 6/18/07   4,992,000  
BB-   2,000       11.00%, 3/05/08   2,723,026  
        Total Foreign Government Bonds   138,609,594  
        Total Long-Term Investments (cost $720,082,189)   727,427,501  
        SHORT-TERM INVESTMENT—1.1%    
        U.S. Government and Agency Zero Coupon Bond—1.1%    
    4,900 6 Federal Home Loan Bank Discount Note, 4.63%, 4/03/06 (cost $4,898,740)   4,898,740  
        Total investments—161.4% (cost $724,980,9297)   $732,326,241  
        Liabilities in excess of other assets (including $16,342,230 in reverse repurchase agreements payable)—(7.7)%   (35,103,276)  
        Preferred shares at redemption value, including dividends payable—(53.7)%   (243,510,431)  
        Net Assets—100%   $453,712,534  

1 Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch’s ratings.
2 Rate shown is interest rate as of March 31, 2006.
3 Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of March 31, 2006, the Trust held 6.3% of its net assets, with a current market value of $28,531,424, in securities restricted as to resale.
4 Issuer is in default and/or bankruptcy.
5 Security is fair valued.
6 Rate shown is the yield to maturity as of March 31, 2006.
7  Cost for Federal income tax purposes is $725,043,954. The net unrealized appreciation on a tax basis is $7,282,287, consisting of $10,426,109 gross unrealized appreciation and $3,143,822 gross unrealized depreciation.
   
  A category in the Corporate Bonds and Bank Loans sections may contain multiple industries as defined by the SEC’s Standard Industry Codes.

KEY TO ABBREVIATIONS
  CND
—
Canadian Dollar TBD
—
To Be Determined  
  MXN
—
Mexican Peso USD
—
U.S. Dollar  

11

Item 2. Controls and Procedures.

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

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

Item 3. Exhibits.

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

SIGNATURES

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

(Registrant)___BlackRock Global Floating Rate Income Trust___

By:___/s/ Henry Gabbay____________________________________
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: May 25, 2006

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

By:___/s/ Robert S. Kapito___________________________________
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: May 25, 2006

By:__/s/ Henry Gabbay______________________________________
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: May 25, 2006