BlackRock Floating Rate Income Portfolio
BlackRock Funds V
Fund classification
Classified from what the fund holds · as of 2026 Q2
BlackRock Floating Rate Income Portfolio is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2025 Q4
The primary investment objective of the BlackRock Floating Rate Income Portfolio (the Floating Rate Income Portfolioor the Fund) is to seek to provide high current income,
The fund invests at least 80% of its assets in floating rate loans and debt, including senior secured loans, subordinated loans, and fixed-rate debt converted to floating rate through derivatives, to generate high current income. The portfolio may include securities of any credit quality, with a substantial portion typically in below-investment-grade leveraged loans that carry credit risks similar to junk bonds. The fund may also hold up to 20% in fixed income securities without floating rate conversion, up to 15% in illiquid investments, and up to 10% in equities, and may invest in distressed issuers or those in default or bankruptcy. Because portfolio returns depend on the credit quality and performance of the underlying borrowers, credit deterioration or defaults will reduce income and principal value.
| Share class | Expense ratio |
|---|---|
| C000202268 | 0.98% |
| C000202269 | 1.71% |
| C000202270 | 0.72% |
| C000202272 | 0.63% |
Portfolio turnover 47.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Loans | 88.35% |
| Cash & short-term | 9.59% |
| Other | 4.56% |
| Stocks | 0.49% |
| 2 smaller | 0.52% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: Hologic, Inc., Belron Finance 2019 LLC, OAK-Eagle Acquireco, Inc., ALTICE FRANCE SA, Osmosis Buyer Ltd., BCPE Empire Holdings, Inc., Sword Purchaser LLC, EG America LLC
Largest exited: Beignet Investor LLC, Hologic, Inc., Belron Finance 2019 LLC, X Corp., Madison IAQ LLC, Vertiv Group Corp., WMG Acquisition Corp., Amneal Pharmaceuticals LLC
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 99.6% |
| Fixed rate | 0.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.0% |
| 1-3y | 13.2% |
| 3-5y | 31.2% |
| 5-10y | 54.7% |
| 10y+ | 0.0% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Interest-rate moves barely touch this fund — but its credit exposure is real: a 100bp widening in credit spreads costs roughly 2.5%. Duration alone would have told you none of that.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 97% |
| Interest rates | 3% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +2.25 yr |
| Investment grade | +0.13 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.00 yr | 8% |
| 1 yr | 0.01 yr | 21% |
| 5 yr | 0.04 yr | 66% |
| 10 yr | 0.00 yr | 5% |
| 30 yr | 0.00 yr | 1% |
| 3 mo | 2.20 yr | 92% |
| 1 yr | 0.00 yr | 0% |
| 5 yr | 0.18 yr | 8% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.13 | +2.07 | $31.3k | $512.4k |
| 1 yr | +0.01 | +0.00 | +0.00 | $0 | $2 |
| 5 yr | +0.04 | +0.00 | +0.18 | $0 | $44.3k |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 0.07 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| TSTXX | BlackRock Liquidity FundsTSTXX | 5.43% | $134.18M | — |
| — | BlackRock Funds III | 4.18% | $103.29M | — |
| — | iShares Trust | 2.96% | $73.20M | — |
| — | Invesco Senior Loan ETF | 1.60% | $39.51M | — |
| — | Hologic, Inc.5.92% floating · due 2033-04-07 | 0.81% | $19.97M | — |
| — | Jane Street Group LLC5.67% floating · due 2031-12-15 | 0.80% | $19.81M | — |
| — | HUB International Ltd.5.92% floating · due 2030-06-20 | 0.77% | $18.92M | — |
| — | TK Elevator Midco GmbH6.38% floating · due 2030-04-30 | 0.73% | $18.05M | — |
| — | Allied Universal Holdco LLC6.90% floating · due 2032-08-20 | 0.73% | $17.94M | — |
| — | Alliant Holdings Intermediate LLC6.15% floating · due 2031-09-19 | 0.68% | $16.88M | — |
Top 10 positions are 18.68% of net assets, top 25 27.54%, across 377 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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