Company: BCAT
Filing Date: 2025-03-07
Form Type: N-CSR
Source: 0001193125-25-049576
Chunk: 51

Company: BlackRock Capital Allocation Term Trust
Filing Date: 2025-03-07
Form: N-CSR
Chunk 51
---
 foreign currency exchangecontracts and constructive sales, the accrual of income on securities in default, the realization for tax purposes of unrealized gains on investments in passive foreign 
 investmentcompanies, the timing and recognition of partnership income, the                                                                                                                                                                                                                         
 accounting for swap agreements, classification of investments and the deferral of compensation to Trustees.                                                                                                                                                                                        |

During the year ended December 31, 2024, the Trusts listed below utilized the following amounts of their respective capital loss carryforward:

| Trust Name |    Utilized |
| BCAT       | $21,743,200 |
| ECAT       |  70,043,940 |

As of December 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

| Trust Name |       Tax Cost | Gross UnrealizedAppreciation | Gross UnrealizedDepreciation | Net UnrealizedAppreciation(Depreciation) |
| BCAT       | $1,675,596,944 |                 $293,850,532 |               $(125,405,638) |                             $168,444,894 |
| ECAT       |  1,634,583,119 |                  295,067,703 |                  -72,739,682 |                              222,328,021 |

9. BANK BORROWINGS BCAT entered into a 179-day rolling line of credit facility with BNP Paribas Prime Brokerage International, Limited (“BNP”). BNP is required to provide 179 days’ notice of termination to BCAT absent a default or certain similar events. BCAT has granted a security interest in substantially all of its assets to BNP. BCAT can borrow up to $550,000,000 at any time, subject to asset coverage and other limitations as specified in the credit facility. Advances will be made by BNP to BCAT at the Overnight Bank Funding Rate plus 0.75%. In addition, BCAT pays a commitment fee of 0.25% per annum on the daily unused amount if utilization is less than 80% of the committed line amount. For the year ended December 31, 2024, BCAT did not borrow under the credit agreement. 10. PRINCIPAL RISKS In the normal course of business, the Trusts invest in securities or other instruments and may enter into certain transactions, and such activities subject each Trust to