Senior High Income ARK -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

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 811-07456

Name of Fund: BlackRock Senior High Income Fund, Inc. (ARK)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Senior
High Income Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address:
P.O. Box 9011, Princeton, NJ, 08543-9011

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

Date of fiscal year end: 02/28/2009

Date of reporting period: 03/01/2008 – 05/31/2008

Item 1 – Schedule of Investments


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
Industry    Corporate Bonds        (000)         Value 

 
 
 
 
Aerospace & Defense - 1.7%    Moog, Inc., 7.25%, 6/15/18 (a)        $ 5,000    $ 5,037,500 

 
 
 
 
Auto Components - 2.3%    The Goodyear Tire & Rubber Co.,             
    6.678%, 12/01/09 (b)        5,070    5,076,337 
    The Goodyear Tire & Rubber Co., 8.625%, 12/01/11    1    1,055 
    Lear Corp., 8.75%, 12/01/16        1,495    1,356,713 
    Metaldyne Corp., 11%, 6/15/12        1,075    354,750 
    Venture Holdings Co. LLC, 12%, 6/01/09 (c)    700    0 
Venture Holdings Co. LLC Series B,
    9.50%, 7/01/05 (c)        3,325    333 
               
                6,789,188 

 
 
 
 
Building Products - 1.4%    CPG International I, Inc., 11.468%, 7/01/12 (b)    3,500    2,905,000 
    CPG International I, Inc., 10.50%, 7/01/13    1,500    1,245,000 
           
                4,150,000 

 
 
 
 
Chemicals - 4.4%    American Pacific Corp., 9%, 2/01/15        610    600,850 
    ARCO Chemical Co., 9.80%, 2/01/20        1,350    1,134,000 
    GEO Specialty Chemicals, Inc.,             
    7.50%, 3/31/15 (a)(d)(e)        1,690    1,265,385 
    GEO Specialty Chemicals, Inc.,             
    13.85%, 12/31/09 (d)        2,873    2,151,159 
    Hanna (M.A.) Co., 6.89%, 9/22/08        1,000    1,000,000 
    Hexion U.S. Finance Corp., 7.176%, 11/15/14 (b)    3,500    3,325,000 
    NOVA Chemicals Corp., 5.953%, 11/15/13 (b)    3,845    3,306,700 
           
                12,783,094 

 
 
 
 
Commercial Banks - 0.2%    Investcorp SA, 7.54%, 10/21/08        500    500,306 

 
 
 
 
Commercial Services & Supplies - 0.2%    PNA Intermediate Holding Corp.,             
    9.676%, 2/15/13 (b)(e)        550    474,375 

 
 
 
 
Construction Materials - 1.2%    Nortek Holdings, Inc., 10%, 12/01/13 (a)    3,420    3,398,625 

 
 
 
Containers & Packaging - 5.0%    Berry Plastics Holding Corp.,             
    6.675%, 9/15/14 (b)        100    84,500 
    Clondalkin Acquisition BV,             
    4.776%, 12/15/13 (a)(b)        3,500    3,080,000 
    Graphic Packaging International Corp., 9.50%,         
    8/15/13        215    216,612 
Packaging Dynamics Finance Corp.,
    10%, 5/01/16 (a)        4,285    2,828,100 
    Smurfit Kappa Funding Plc, 7.75%, 4/01/15    5,150    4,673,625 
    Smurfit-Stone Container Enterprises, Inc.,         
    8.375%, 7/01/12        800    744,000 
    Smurfit-Stone Container Enterprises, Inc., 8%,         
    3/15/17        1,300    1,121,250 
    Wise Metals Group LLC, 10.25%, 5/15/12    2,000    1,745,000 
           
                14,493,087 

 
 
 
 
Diversified Financial Services - 1.9%    Ford Motor Credit Co. LLC, 5.80%, 1/12/09    680    667,175 
    Ford Motor Credit Co. LLC,             
    5.46%, 1/13/12 (b)        1,340    1,132,285 
    Ford Motor Credit Co. LLC, 7.163%, 4/15/12 (b)    250    245,932 
    Highland Legacy Ltd., 9.10%, 6/01/11 (a)(b)    4,000    3,381,600 
           
                5,426,992 

 
 
 
 
Diversified Telecommunication    Qwest Corp., 6.05%, 6/15/13 (b)        1,025    994,250 
Services - 0.3%                 

 
 
 
 
Electric Utilities - 0.9%    NSG Holdings LLC, 7.75%, 12/15/25 (a)    2,620    2,587,250 

 
 
 

1


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
Industry    Corporate Bonds        (000)         Value 

 
 
 
 
Electronic Equipment &    Communications & Power Industries, Inc., 8%,         
Instruments - 2.0%    2/01/12    $ 3,000    $ 2,947,500 
    NXP BV, 5.463%, 10/15/13 (b)        3,125    2,859,375 
               
                5,806,875 

 
 
 
 
Energy Equipment & Services - 2.7%    Ocean RIG ASA, 6.70%, 4/04/11 (b)        5,000    5,000,000 
    SemGroup LP, 8.75%, 11/15/15 (a)        3,025    2,949,375 
               
                7,949,375 

 
 
 
 
Gas Utilities - 0.5%    El Paso Performance-Linked Trust,             
    7.75%, 7/15/11 (a)        1,525    1,568,737 

 
 
 
 
Health Care Equipment & Supplies - 0.7%    LVB Acquisition Merger Sub, Inc., 10%,             
    10/15/17 (a)        600    643,500 
    LVB Acquisition Merger Sub, Inc., 10.375%,         
    10/15/17 (a)(e)        600    637,500 
    LVB Acquisition Merger Sub, Inc., 11.625%,         
    10/15/17 (a)        800    848,000 
               
                2,129,000 

 
 
 
 
Health Care Providers & Services - 0.5%    Community Health Systems, Inc. Series WI,         
    8.875%, 7/15/15        990    1,020,938 
    Universal Hospital Services, Inc.,             
    6.303%, 6/01/15 (b)        460    435,850 
               
                1,456,788 

 
 
 
 
Hotels, Restaurants & Leisure - 7.3%    American Real Estate Partners LP,             
    7.125%, 2/15/13        3,000    2,745,000 
    CCM Merger, Inc., 8%, 8/01/13 (a)        4,125    3,506,250 
    Harrah's Operating Co., Inc.,             
    10.75%, 2/01/16 (a)        6,916    5,922,886 
    Harrah's Operating Co., Inc.,             
    10.75%, 2/01/18 (a)(e)        2,130    1,682,700 
    Little Traverse Bay Bands of Odawa Indians,         
    10.25%, 2/15/14 (a)        1,210    1,131,350 
    Pinnacle Entertainment, Inc.,             
    7.50%, 6/15/15 (a)        810    668,250 
    Shingle Springs Tribal Gaming Authority,             
    9.375%, 6/15/15 (a)        690    602,025 
    Snoqualmie Entertainment Authority, 6.936%,         
    2/01/14 (a)(b)        500    387,500 
    Station Casinos, Inc., 7.75%, 8/15/16        1,000    832,500 
    Tropicana Entertainment LLC Series WI,             
    9.625%, 12/15/14 (c)        445    249,200 
    Tunica-Biloxi Gaming Authority,             
    9%, 11/15/15 (a)        1,500    1,462,500 
    Universal City Florida Holding Co. I, 7.623%,         
    5/01/10 (b)        2,050    2,014,125 
               
                21,204,286 

 
 
 
 
Household Durables - 0.3%    Jarden Corp., 7.50%, 5/01/17        970    865,725 

 
 
 
 
Independent Power Producers & Energy    Energy Future Holding Corp.,             
Traders - 2.1%    11.25%, 11/01/17 (a)(e)        1,500    1,545,000 
    Texas Competitive Electric Holdings Co. LLC,         
    10.25%, 11/01/15 (a)        3,220    3,288,425 
    Texas Competitive Electric Holdings Co. LLC,         
    10.50%, 11/01/16 (a)(e)        1,200    1,218,000 
               
                6,051,425 

 
 
 
 
Leisure Equipment & Products - 1.0%    Quiksilver, Inc., 6.875%, 4/15/15        3,525    2,890,500 

 
 
 
 

2


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
Industry    Corporate Bonds        (000)         Value 

 
 
 
 
Machinery - 1.8%    Ahern Rentals, Inc., 9.25%, 8/15/13 (a)    $ 2,700    $ 2,160,000 
    ESCO Corp., 6.675%, 12/15/13 (a)(b)        1,540    1,416,800 
    RBS Global, Inc., 8.875%, 9/01/16        835    805,775 
    Titan International, Inc., 8%, 1/15/12        770    775,775 
               
                5,158,350 

 
 
 
 
Marine - 0.1%    Navios Maritime Holdings, Inc.,             
    9.50%, 12/15/14 (a)        324    333,720 

 
 
 
 
Media - 6.3%    Affinion Group, Inc., 10.125%, 10/15/13    120    122,700 
    Affinion Group, Inc., 11.50%, 10/15/15    395    401,419 
    Cablevision Systems Corp. Series B, 7.133%,         
    4/01/09 (b)        3,175    3,190,875 
    Charter Communications Holdings LLC, 10%,         
    4/01/09        1,750    1,710,625 
Charter Communications Holdings LLC,
    11.125%, 1/15/11        1,319    896,920 
    Charter Communications Holdings LLC, 10%,         
    5/15/11        660    462,000 
    Mediacom LLC, 9.50%, 1/15/13        1,875    1,790,625 
    Nielsen Finance LLC, 10%, 8/01/14 (a)        1,860    1,918,125 
    Paxson Communications Corp.,             
    5.963%, 1/15/12 (a)(b)        1,325    1,106,375 
    R.H. Donnelley Corp., 8.875%, 10/15/17 (a)    800    536,000 
    Rainbow National Services LLC,             
    8.75%, 9/01/12 (a)        5,250    5,381,250 
Windstream Regatta Holdings, Inc.,
    11%, 12/01/17 (a)        1,244    833,480 
               
                18,350,394 

 
 
 
 
Metals & Mining - 4.3%    Aleris International, Inc., 9%, 12/15/14    1,070    874,725 
    Freeport-McMoRan Copper & Gold, Inc.,         
    5.883%, 4/01/15 (b)        5,430    5,429,457 
    Indalex Holding Corp. Series B,             
    11.50%, 2/01/14        1,731    943,395 
    RathGibson, Inc., 11.25%, 2/15/14        2,225    2,191,625 
    Ryerson, Inc., 10.248%, 11/01/14 (a)(b)    3,360    3,099,600 
           
                12,538,802 

 
 
 
 
Oil, Gas & Consumable Fuels - 3.6%    Chaparral Energy, Inc., 8.50%, 12/01/15    730    646,050 
Compton Petroleum Finance Corp.,
    7.625%, 12/01/13        1,475    1,443,656 
    Peabody Energy Corp., 7.375%, 11/01/16    4,530    4,631,925 
    Sabine Pass LNG LP, 7.50%, 11/30/16        2,985    2,727,544 
    SandRidge Energy, Inc.,             
    6.323%, 4/01/14 (a)(b)        1,000    980,000 
               
                10,429,175 

 
 
 
 
Paper & Forest Products - 6.8%    Abitibi-Consolidated, Inc., 6.276%, 6/15/11 (b)    3,275    1,473,750 
    Ainsworth Lumber Co. Ltd., 6.446%, 10/01/10 (b)    4,225    2,028,000 
    Ainsworth Lumber Co. Ltd., 6.696%, 4/01/13 (b)    2,500    1,275,000 
    Bowater, Inc., 5.776%, 3/15/10 (b)        7,400    5,846,000 
    Domtar Corp., 7.125%, 8/15/15        1,775    1,695,125 
    NewPage Corp., 9.123%, 5/01/12 (b)        5,175    5,407,875 
Verso Paper Holdings LLC Series B,
    6.623%, 8/01/14 (b)        2,300    2,139,000 
               
                19,864,750 

 
 
 
 
Pharmaceuticals - 2.1%    Angiotech Pharmaceuticals, Inc.,             
    6.432%, 12/01/13 (b)        2,690    2,326,850 

3


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
Industry    Corporate Bonds        (000)    Value 

 
 
 
 
    Elan Finance Plc, 6.676%, 11/15/11 (b)    $ 2,325    $ 2,185,500 
    Elan Finance Plc, 7.75%, 11/15/11        1,650    1,612,875 
               
                6,125,225 

 
 
 
 
Real Estate Management &    Realogy Corp., 11%, 4/15/14        4,950    3,217,500 
Development - 1.1%                 

 
 
 
 
Road & Rail - 0.3%    Swift Transportation Co., Inc.,        2,430    801,900 
    10.426%, 5/15/15 (a)(b)             

 
 
 
 
Semiconductors & Semiconductor    Avago Technologies Finance Pte. Ltd.,             
Equipment - 1.1%    8.182%, 6/01/13 (b)        766    765,042 
    Freescale Semiconductor, Inc.,             
    8.875%, 12/15/14        850    752,250 
    Spansion, Inc., 5.807%, 6/01/13 (a)(b)        2,180    1,591,400 
               
                3,108,692 

 
 
 
 
Specialty Retail - 0.6%    Michaels Stores, Inc., 10%, 11/01/14        1,055    975,875 
    United Auto Group, Inc., 7.75%, 12/15/16        915    850,950 
               
                1,826,825 

 
 
 
 
Wireless Telecommunication    iPCS, Inc., 4.998%, 5/01/13 (b)        630    541,800 
Services - 0.7%    Nordic Telephone Co. Holdings ApS, 8.875%,         
    5/01/16 (a)        1,200    1,182,000 
    Orascom Telecom Finance SCA,             
    7.875%, 2/08/14 (a)        395    378,212 
               
                2,102,012 

 
 
 
 
    Total Corporate Bonds - 65.4%            190,414,723 

 
 
 
 
 
    Floating Rate Loan Interests             

 
 
 
 
Aerospace & Defense - 2.0%    Hawker Beechcraft Acquisition Co. LLC Letter         
    of Credit, 4.73%, 3/31/14        294    275,010 
    Hawker Beechcraft Acquisition Co. LLC Term         
    Loan B, 4.696%, 3/31/14        5,041    4,719,177 
    IAP Worldwide Services, Inc. Term Loan, 9%,         
    12/31/12        890    732,982 
               
                5,727,169 

 
 
 
 
Airlines - 0.4%    Delta Air Lines, Inc. First Lien Term Loan,             
    4.436% - 6.832%, 5/15/12        1,238    1,050,107 

 
 
 
 
Auto Components - 2.7%    Allison Transmission Term Loan B,             
    5.48% - 5.74%, 8/07/14        5,240    4,799,243 
    Delphi Automotive Systems Term Loan, 8.50%,         
    12/31/08        908    891,008 
    Goodyear Tire & Rubber Co., Second Lien Term         
    Loan, 4.54%, 4/30/14        1,000    934,250 
    Intermet Corp. First Lien Term Loan, 10.146%,         
    11/08/10        447    394,590 
    Intermet Corp. Letter of Credit,             
    9.441%, 11/08/10        648    571,991 
    Metaldyne Corp. Letter of Credit,             
    3.146% - 6.50%, 1/15/12        58    45,216 
    Metaldyne Corp. Term Loan B,             
    6.50%, 1/15/14        392    307,471 
               
                7,943,769 

 
 
 
 
Biotechnology - 0.3%    Talecris Biotherapeutics, Inc. First Lien Term         
    Loan, 6.51% - 8.38%, 11/13/14        995    905,416 

 
 
 
 
Building Products - 1.4%    Building Material Corp. of America First Lien         
    Term Loan, 6.75%, 2/22/14        2,004    1,791,158 

4


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
Industry    Floating Rate Loan Interests        (000)         Value 

 
 
 
 
Masonite International Term Loan,
    4.63% - 5.046%, 4/06/13        $ 1,255    $ 1,188,701 
    Masonite International Term Loan B, 5.046%,         
    4/06/13        1,245    1,180,064 
               
                4,159,923 

 
 
 
 
Chemicals - 5.3%    Huish Detergents, Inc. First Lien Term Loan,         
    4.45%, 4/15/14        993    878,892 
    Huntsman ICI Holdings Term Loan B, 4.636%,         
    8/16/12        1,121    1,084,767 
    ISP Chemco Term Loan B, 4.125% - 4.563%,         
    5/25/14        993    942,255 
    Ineos Group Plc Term Loan B,             
    4.885%, 2/20/15        500    457,500 
    Ineos Group Plc Term Loan C,             
    5.385%, 2/20/14        500    457,500 
    PQ Corp. First Lien Term Loan, 8.61%, 5/29/15    5,000    4,687,500 
    Rockwood Specialties Group, Inc. Tranche D         
    Term Loan, 4.744%, 12/10/12        1,552    1,482,646 
Wellman, Inc. First Lien Term Loan,
    7.239%, 2/10/09 (c)        8,000    5,400,000 
               
                15,391,060 

 
 
 
 
Commercial Services & Supplies - 5.9%    ARAMARK Corp. Letter of Credit,             
    3.18%, 1/30/14        263    247,103 
    ARAMARK Corp. Term Loan B,             
    4.571%, 1/30/14        4,146    3,889,564 
    Euramax International Plc First Lien Term Loan,         
    7.813%, 6/29/12        1,624    1,396,528 
    Euramax International Plc Second Lien Term         
    Loan, 10.728%, 6/29/13        995    586,895 
    Euramax International Plc Second Lien Term         
    Loan, 12.646%, 6/29/13        755    445,605 
    John Maneely Co. Term Loan B,             
    6.02% - 7.693%, 12/15/13        1,120    1,043,070 
    Metokote Corp. Second Lien Term Loan,         
    5.70% - 7%, 11/27/11        608    565,685 
    NES Rentals Holdings, Inc. Term Loan C,         
    9.625%, 7/12/13        1,726    1,346,055 
Waste Services, Inc. Term Loan D,
    5.15%, 3/31/11        5,914    5,840,253 
    West Corp. Term Loan, 5.02% - 6.093%,         
    10/31/13        1,975    1,826,216 
               
                17,186,974 

 
 
 
 
Communications Equipment - 1.0%    Alltel Corp. Term Loan B2, 5.564%, 5/16/15    499    462,310 
    Alltel Corp. Term Loan B3, 5.232%, 5/18/15    2,743    2,542,707 
           
                3,005,017 

 
 
 
 
Computers & Peripherals - 0.7%    Intergraph Corp. Term Loan,             
    6.819% - 7.506%, 5/15/14        419    402,466 
    Reynolds and Reynolds Co. First Lien Term         
    Loan, 4.383%, 10/31/12        1,791    1,711,313 
               
                2,113,779 

 
 
 
 
Construction & Engineering - 0.1%    Brand Energy & Infrastructure Services, Inc.         
    Letter of Credit, 2.625%, 2/15/14        500    454,375 

 
 
 
 
Construction Materials - 0.3%    Headwaters, Inc. Term Loan B-1,             
    5.17% - 6.89%, 4/30/11        781    744,141 

 
 
 
 

5


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
Industry    Floating Rate Loan Interests        (000)    Value 

 
 
 
 
Containers & Packaging - 1.3%    Anchor Glass Container Corp. Term Loan B,         
    5.113%, 5/03/13        $ 1,108    $ 1,094,300 
    Graham Packaging Co. LP Term Loan B, 5% -         
    7.75%, 4/15/11        1,980    1,888,425 
    Solo Cup Co. Term Loan, 6.10% - 6.20%,         
    2/27/11 (g)        903    889,122 
               
                3,871,847 

 
 
 
 
Distributors - 0.4%    Keystone Automotive Operations, Inc. Term         
    Loan B, 6.138% - 7.75%, 1/15/12        1,437    1,142,630 

 
 
 
 
Diversified Consumer Services - 0.6%    Coinmach Laundry Corp. Term Loan B, 5.70%,         
    11/15/14        2,000    1,770,000 

 
 
 
 
Diversified Financial Services - 1.9%    Chrysler Financial Corp. First Lien Term Loan,         
    6.78%, 8/03/12        3,491    3,134,348 
    J.G. Wentworth Manufacturing Term Loan B,         
    7.093%, 4/15/14        3,200    2,520,000 
               
                5,654,348 

 
 
 
 
Diversified Telecommunication Services - 0.9%    Winstar Communications Debtor In Possession,         
    6.366%, 12/31/06 (c)        1,703    2,592,120 

 
 
 
 
Electrical Equipment - 0.3%    Generac Power Systems, Inc. First Lien Term         
    Loan, 5.184%, 11/15/13        1,059    860,675 

 
 
 
 
Energy Equipment & Services - 1.2%    Dresser, Inc. First Lien Term Loan,             
    5.113% - 5.219%, 5/15/14        1,473    1,407,801 
Dresser, Inc. Second Lien Term Loan,
    4.69% - 4.70%, 5/15/15        1,000    945,833 
    MEG Energy Corp. Delayed Draw Term Loan,         
    6.73%, 3/23/13        499    470,661 
    MEG Energy Corp. Term Loan B,             
    4.70%, 4/03/13        490    461,008 
               
                3,285,303 

 
 
 
 
Food & Staples Retailing - 1.9%    Bolthouse Farms, Inc. Second Lien Term Loan,         
    8.196%, 12/01/13        750    705,000 
Dole Food Co., Inc. Letter of Credit,
    4.247%, 4/12/13        1,151    1,064,672 
    Dole Food Co., Inc. Term Loan B,             
    4.75% - 7.125%, 4/12/13        518    479,016 
    Dole Food Co., Inc. Term Loan C,             
    4.813% - 7%, 4/04/13        2,753    2,547,323 
    McJunkin Corp. Term Loan B,             
    6.134%, 1/30/14        494    485,932 
    Sturm Foods, Inc. First Lien Term Loan, 5.813%,         
    1/30/14        248    192,637 
               
                5,474,580 

 
 
 
 
Food Products - 0.6%    Eight O'Clock Coffee First Lien Term Loan,         
    5.188%, 7/21/12        907    870,348 
    Jetro Holdings, Inc. Term Loan,             
    5.20%, 5/11/14        969    910,625 
               
                1,780,973 

 
 
 
 
Health Care Equipment & Supplies - 1.0%    Biomet, Inc. Term Loan B, 5.696%, 3/25/14    1,990    1,932,234 
    ReAble Therapeutics Finance LLC Term Loan,         
    5.696%, 5/14/14        998    970,069 
               
                2,902,303 

 
 
 
 
Health Care Providers & Services - 0.8%    Community Health Systems, Inc. Term Loan B,         
    4.631%, 6/18/14        1,904    1,795,102 
    Sterigenics International, Inc. Term Loan B,         
    5.05% - 7.25%, 11/30/13        487    438,595 
               
                2,233,697 

 
 
 
 

6


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
Industry    Floating Rate Loan Interests        (000)         Value 

 
 
 
 
Hotels, Restaurants & Leisure - 4.1%    Cedar Fair LP Term Loan B, 4.381%, 8/30/12    $ 2,948    $ 2,800,535 
Greenwood Racing, Inc. Term Loan,
    5.12%, 11/15/13        741    688,781 
    Harrah's Entertainment, Inc. Term Loan B2,         
    6.244%, 1/29/15        1,000    933,594 
    Las Vegas Sands LLC Delay Draw Term Loan,         
    4.17%, 5/23/14        300    275,750 
Las Vegas Sands LLC Term Loan B,
    4.45%, 5/04/14        1,191    1,094,728 
    OSI Restaurant Partners, Inc. Term Loan B, 5%,         
    5/15/14        1,199    1,032,181 
    QCE LLC First Lien Term Loan,             
    7% - 7.125%, 5/05/13        985    839,508 
    Venetian Macau US Finance Co. LLC Delay Draw         
    Term Loan, 7.08%, 5/25/12        1,500    1,447,500 
    Venetian Macau US Finance Co. LLC Term Loan         
    B, 7.60%, 5/25/13        3,000    2,895,000 
               
                12,007,577 

 
 
 
 
IT Services - 5.4%    Activant Solutions Term Loan B,             
    5.063% - 4.75%, 5/02/13        1,638    1,449,966 
    Audio Visual Services Corp. Second Lien Term         
    Loan, 8.20%, 9/15/14        500    450,000 
    Audio Visual Services Corp. Term Loan B,         
    4.95%, 3/15/14        1,990    1,691,500 
    Ceridian Corp. Term Loan, 5.475%, 11/07/14    1,500    1,312,500 
    First Data Corp. Term Loan B,             
    5.446% - 7.634%, 9/24/14        746    691,723 
    First Data Corp. Term Loan B2,             
    5.349% - 5.446%, 9/24/14        2,997    2,779,495 
    First Data Corp. Term Loan B3,             
    7.58% - 7.634%, 9/24/14        997    925,300 
    RedPrairie Corp. Term Loan, 5.688% - 8%,         
    7/31/12        690    607,608 
    RedPrairie Corp. Term Loan, 6%, 1/31/13    296    251,813 
    SunGard Data Systems, Inc. Term Loan B,         
    5.128%, 2/11/13        5,500    5,178,751 
    SunGard Data Systems, Inc. Term Loan B,         
    4.508%, 2/28/14        466    438,821 
               
                15,777,477 

 
 
 
 
Independent Power Producers &    TXU Corp. Term Loan B-2, 6.121% - 6.478%,    995    936,318 
Energy Traders - 1.0%    10/14/29             
    TXU Corp. Term Loan B-3, 8.396%, 10/10/14    1,990    1,870,103 
           
                2,806,421 

 
 
 
 
Insurance - 0.1%    Alliant Insurance Services Term Loan B,         
    5.696% - 7.72%, 10/23/14        498    461,431 

 
 
 
 
Leisure Equipment & Products - 0.6%    Fender Musical Instruments Corp. Delay Draw         
    Term Loan, 6.97%, 5/25/14        667    600,501 
    Fender Musical Instruments Corp. Term Loan B,         
    7.16%, 5/25/14        1,324    1,191,994 
               
                1,792,495 

 
 
 
 
Machinery - 3.4%    Harrington Holdings, Inc. Term Loan, 5.113%,         
    1/15/14        990    910,800 
    Invensys Plc Term Loan A, 6.898%, 12/15/10    1,457    1,394,284 
    Lincoln Industrials Second Lien Term Loan,         
    10.87%, 12/18/14        1,000    920,000 
    Maxim Crane Term Loan B, 4.724% - 6%, 6/14/14    992    982,575 
    Navistar International Transportation Corp.         
    Revolving Credit, 4.794% - 6.149%, 6/30/12    1,067    1,001,778 

7


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
Industry    Floating Rate Loan Interests        (000)         Value 

 
 
 
 
    Navistar International Transportation Corp.         
    Term Loan, 6.501%, 6/30/12        $ 2,933    $ 2,754,890 
OshKosh Truck Corp. Term Loan B,
    4.76%, 11/30/13        1,975    1,885,301 
               
                9,849,628 

 
 
 
 
Media - 13.5%    Affinion Group, Inc. Term Loan,             
    11.678%, 3/01/12        2,000    1,670,000 
    Cequel Communications LLC Second Lien Term         
    Loan, 7.373%, 5/04/14        4,789    4,106,612 
    Cequel Communications LLC Term Loan B,         
    4.685%, 11/05/13        1,635    1,520,865 
    Charter Communications, Inc. Term Loan B,         
    4.89%, 4/30/14        5,985    5,315,087 
    ClientLogic Holding Corp. Term Loan B, 6.50%,         
    1/30/14        973    778,768 
    Education Media and Publishing First Lien Term         
    Loan B, 6.901%, 11/14/14        2,636    2,412,273 
    Education Media and Publishing Term Loan B,         
    6.901%, 11/14/14        2,000    1,830,000 
    Ellis Communications Term Loan,             
    10%, 12/30/11        3,895    3,116,296 
    GateHouse Media Operating, Inc. Delay Draw         
    Term Loan, 4.72% - 5.09%, 9/15/14        606    422,543 
    GateHouse Media Operating, Inc. Term Loan B,         
    5.09%, 9/15/14        1,500    1,046,250 
    Hanley-Wood LLC Term Loan B,             
    4.938% - 4.96%, 3/07/14        995    762,419 
    Idearc, Inc. Term Loan B, 4.70%, 11/15/14    1,963    1,630,347 
    Insight Midwest Holdings LLC Delay Draw Term         
    Loan, 4.69%, 4/03/14        3,375    3,221,920 
    Knology, Inc. Term Loan B, 4.934% - 6.953%,         
    3/15/12        744    684,825 
    Mediacom Communications Term Loan D, 4.16%         
    - 4.88%, 1/31/15        1,973    1,805,704 
    Mediacom LLC Term Loan C, 4.16% - 5.74%,         
    1/31/15        2,535    2,306,162 
Nielsen Finance LLC Term Loan B,
    5.346%, 8/15/13        3,448    3,236,972 
    Penton Media Term Loan, 4.954% - 5.149%,         
    2/15/13        743    597,713 
Thomson Learning Inc. Term Loan,
    5.20%, 6/30/14        1,493    1,344,929 
    Univision Communications, Inc. First Lien Term         
    Loan, 4.954%, 9/30/14        134    113,104 
    Univision Communications, Inc. First Lien Term         
    Loan, 5.375% - 5.494%, 9/30/14        1,541    1,298,293 
               
                39,221,082 

 
 
 
 
Multiline Retail - 1.0%    Neiman Marcus Group, Inc. Term Loan, 4.758%,         
    4/06/13        3,000    2,866,500 

 
 
 
 
Oil, Gas & Consumable Fuels - 1.5%    Big West Oil & Gas Delay Draw Term Loan,         
    4.482%, 5/15/14        125    116,875 
    Big West Oil & Gas Term Loan B,             
    4.75%, 5/15/14        443    413,737 
    Petroleum Geo-Services ASA Term Loan B,         
    4.45%, 6/30/15        953    921,158 
    Scorpion Drilling Ltd. Second Lien Term Loan,         
    12.406%, 5/05/15        2,000    2,040,000 

8


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
Industry    Floating Rate Loan Interests        (000)    Value 

 
 
 
 
    Western Refining Co. LP Term Loan B, 4.649%,         
    3/15/14        $ 922    $ 815,622 
               
                4,307,392 

 
 
 
 
Paper & Forest Products - 0.3%    Boise Cascade Holdings LLC Second Lien Term         
    Loan, 7.50%, 2/05/15        1,000    1,000,893 

 
 
 
 
Pharmaceuticals - 0.9%    Pharmaceutical Technologies & Services (PTS)         
    Term Loan, 4.946%, 4/15/14        2,978    2,646,253 

 
 
 
 
Real Estate Management & Development - 2.1%    LNR Property Corp. Term Loan B,             
    6.03%, 7/12/11        4,400    3,729,000 
    Realogy Corp. Letter of Credit,             
    4.763%, 9/22/14        2,978    2,530,875 
               
                6,259,875 

 
 
 
 
Specialty Retail - 1.0%    ADESA, Inc. Term Loan B, 4.95%, 10/30/13    1,985    1,839,599 
    Burlington Coat Factory Warehouse Corp. Term         
    Loan B, 4.90%, 4/15/13        494    417,418 
    Claire's Stores Term Loan B,             
    5.399%, 5/24/14        743    590,527 
               
                2,847,544 

 
 
 
 
Trading Companies & Distributors - 0.4%    United Rentals, Inc. Term Loan, 4.83%,         
    2/14/11        725    718,444 
    United Rentals, Inc. Tranche B Credit Linked         
    Deposit, 4.50%, 2/14/11        306    303,784 
               
                1,022,228 

 
 
 
 
Wireless Telecommunication Services - 1.4%    Centennial Cellular Operating Co. Term Loan,         
    4.381%, 2/09/11        2,750    2,683,312 
IPC Systems First Lien Term Loan,
    4.946%, 5/25/14        993    760,917 
    NG Wireless Term Loan, 5.446% - 5.163%,         
    7/31/14        610    579,144 
               
                4,023,373 

 
 
 
 
    Total Floating Rate Loan Interests - 67.7%        197,140,375 

 
 
 
    Common Stocks        Shares     

 
 
 
 
Chemicals - 0.0%    GEO Specialty Chemicals, Inc. (f)        142,466    54,693 

 
 
 
 
Containers & Packaging - 0.1%    Smurfit Kappa Plc        18,171    185,165 

 
 
 
 
Hotels, Restaurants & Leisure - 0.1%    Lodgian, Inc. (f)        41,866    376,794 

 
 
 
 
    Total Common Stocks - 0.2%            616,652 

 
 
 
 
            Par     
    Capital Trusts        (000)     

 
 
 
 
Diversified Financial Services - 0.7%    Citigroup, Inc., 8.40%, 4/29/49 (b)(g)        $ 2,000    1,982,580 

 
 
 
 
    Total Capital Trusts - 0.7%            1,982,580 

 
 
 
 
    Warrants (h)        Shares    Value 

 
 
 
 
Wireless Telecommunication Services - 0.1%    American Tower Corp. (expires 8/01/08)    600    386,025 

 
 
 
    Total Warrants - 0.1%            386,025 

 
 
 
 
            Beneficial     
            Interest     
    Other Interests (i)        (000)     

 
 
 
 
Auto Components - 0.0%    Cambridge Industries, Inc. (Litigation Trust         
    Certificates)        $ 4,131    41 

 
 
 
 
Media - 0.0%    Adelphia Preferred Escrow        3    0 

9


BlackRock Senior High Income Fund, Inc.                 
Schedule of Investments May 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Beneficial     
            Interest     
    Other Interests (i)        (000)    Value 

 
 
 
 
    Adelphia Recovery Trust Series ACC-6B INT    $ 250    $ 25 
           
                25 

 
 
 
 
    Total Other Interests - 0.0%            66 

 
 
 
 
    Total Long-Term Securities             
    (Cost - $436,609,774) - 134.1%            390,540,421 

 
 
 
 
 
    Short-Term Securities             

 
 
 
 
    BlackRock Liquidity Series, LLC Cash Sweep         
    Series, 2.63% (j)(k)        3,967    3,967,069 

 
 
 
 
    Total Short-Term Securities             
    (Cost - $3,967,069) - 1.4%            3,967,069 

 
 
 
 
    Total Investments Before Options Written         
    (Cost - $440,576,843*) - 135.5%            394,507,490 

 
 
 
 
 
    Options Written        Contracts     

 
 
 
 
Call Options    Pay a fixed rate of 0.93% and receive a floating rate         
    based on 3-month USD LIBOR, expiring July 2008,         
    Broker Credit Suisse First Boston (g)        4    (24,064) 

 
 
 
 
Put Options    Receive a fixed rate of 0.93% and pay a floating rate         
    based on 3-month USD LIBOR, expiring July 2008,         
    Broker Credit Suisse First Boston (g)        4    (155,172) 

 
 
 
 
    Total Options Written             
    (Premiums Received - $240,000) - (0.1%)        (179,236) 

 
 
 
    Total Investments, Net of Options Written         
    (Cost - $440,336,843) - 135.4%            394,328,254 
    Liabilities in Excess of Other Assets - (35.4%)        (103,108,268) 
           
    Net Assets - 100.0%            $ 291,219,986 
               

*      The cost and unrealized appreciation (depreciation) of investments as of May 31, 2008, as computed for federal income tax purposes, were as follows:
 
Aggregate cost    $ 440,589,893 
   
Gross unrealized appreciation    $ 5,465,209 
Gross unrealized depreciation    (51,547,612) 
   
Net unrealized depreciation    $ (46,082,403) 
   

(a)      Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors. Unless otherwise indicated, these securities are not considered to be illiquid.
 
(b)      Variable rate security. Rate shown is as of report date. Maturity shown is the final maturity date.
 
(c)      Non-income producing security Issuer filed for bankruptcy or is in default of interest payments.
 
(d)      Convertible security.
 
(e)      Represents a pay-in-kind security which may pay interest/dividends in additional face/shares.
 
(f)      Non-income producing security.
 
(g)      This European style swaption, which can be exercised only on the expiration date, represents a standby commitment whereby the writer of the option is obligated to enter into a predetermined interest rate swap contract exercise of the swaption.
 
(h)      Warrants entitle the Fund to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date.
 
(i)      Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income producing.
 
(j)      Investments in companies considered to be an affiliate of the, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
 
    Net         
    Activity        Interest 
Affiliate    (000)        Income 

 
 
 
BlackRock Liquidity Series, LLC             
   Cash Sweep Series    $ 3,967    $ 23,645 

 
 

10


BlackRock Senior High Income Fund, Inc.
Schedule of Investments May 31, 2008 (Unaudited)
(k) Represents the current yield as of report date.

    Notional             
    Amount         Unrealized     
    (000)        Depreciation     

 
 
 
 
Sold credit default protection on Ford Motor Credit Company and                 
receive 2.05%                 
Broker, Deutsche Bank AG London                 
Expires March 2010    $ 5,000    $ (430,265) 
Bought credit default protection on Dow Jones CDX North America                 
High Yield Series 10 Index and pay 5%                 
Broker, Morgan Stanley Capital Services, Inc.                 
Expires June 2013    $ 1,065    (4,729) 
Bought credit default protection on Dow Jones CDX North America                 
High Yield Series 10 Index and pay 5%                 
Broker, Morgan Stanley Capital Services Inc.                 
Expires June 2013    $ 3,143    (65,749) 

 
 
 
Total            $ (500,743) 
           

11


The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements as contained in its annual report.

The following table summarizes the inputs used as of May 31, 2008 in determining the fair valuation of the Fund's investments:

Valuation    Investments in    Other Financial 
Inputs    Securities    Instruments* 

 
 
Level 1    $ 561,959    - 
Level 2    394,021,876    $ 679,979 
Level 3    399    - 

 
 
Total    $ 394,584,234    $ 679,979 

 
 

* Other financial instruments are swaps and options.

The following is a reconciliation of investments for unobservable inputs (Level 3) were used in determining fair value:

    Investments in 
    Securities 

 
Balance, as of February 29, 2008    $ 399 
Accrued discounts/premiums    - 
Realized gain (loss)    - 
Change in unrealized appreciation (depreciation)    - 
Net purchases (sales)    - 
Net transfers in/out of Level 3    - 

 
Balance, as of May 31, 2008    $ 399 

 

12


Item 2 – Controls and Procedures

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

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

Item 3 – Exhibits

Certifications – Attached hereto

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

BlackRock Senior High Income Fund, Inc.

By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer of
BlackRock Senior High Income Fund, Inc.

Date: July 18, 2008

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/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock Senior High Income Fund, Inc.

Date: July 18, 2008

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock Senior High Income Fund, Inc.

Date: July 18, 2008