BlackRock Duration Income Trust (NYSE: BLW) — Morgan Stanley reports 10.7% stake

Rhea-AI Filing Summary

BLACKROCK Ltd DURATION INCOME TRUST ownership update: Morgan Stanley and Morgan Stanley Smith Barney LLC report beneficial ownership positions in the trust's Common Stock, with the filing showing 10.7% beneficial ownership reported for Morgan Stanley and 10.6% for Morgan Stanley Smith Barney LLC. The cover data lists 4,167,837 shares (shared dispositive power) for Morgan Stanley and 4,136,966 shares for Morgan Stanley Smith Barney LLC. Signatures on the amendment are dated 05/11/2026.

Insights

Institutional Ownership Analyst

Large passive holding disclosed by Morgan Stanley reporting units.

Morgan Stanley's filing shows substantial shared dispositive power: 4,167,837 shares (reported as 10.7% of the class). This quantifies the group's visible economic exposure in the trust.

Such positions can influence liquidity and voting outcomes; subsequent Form 13 filings or amendments may update the percentages or ownership method.

Compliance / Regulatory Counsel

Filing appears as a Schedule 13G/A amendment with joint filing disclosures.

The document is an amendment reflecting aggregated holdings of MS reporting units and attaches Exhibit 99.1 (Joint Filing Agreement) and Exhibit 99.2 (Item 7 subsidiary info). The release citation clarifies aggregation rules under Release No. 34-39538.

Filing signatures dated 05/11/2026 complete the amendment; readers should reference the exhibits for subsidiary attribution details.

Key Figures

Morgan Stanley shared dispositive power: 4,167,837 shares Morgan Stanley Smith Barney shared dispositive power: 4,136,966 shares Morgan Stanley beneficial ownership: 10.7% +2 more

5 metrics

Morgan Stanley shared dispositive power 4,167,837 shares shared dispositive power listed on cover

Morgan Stanley Smith Barney shared dispositive power 4,136,966 shares shared dispositive power listed on cover

Morgan Stanley beneficial ownership 10.7% percent of class reported in Item 4(b)

Morgan Stanley Smith Barney beneficial ownership 10.6% percent of class reported on cover

Filing signature date 05/11/2026 signatures for both filers

Key Terms

Schedule 13G/A, beneficially owned, shared dispositive power, Release No. 34-39538

4 terms

Schedule 13G/A regulatory

"Amendment No. 15 and form header lines"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned financial

"this filing reflects the securities beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power financial

"Shared Dispositive Power 4,167,837.00 on the cover"

Release No. 34-39538 regulatory

"In Accordance with the Release No. 34-39538 (January 12, 1998)"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 15)

BLACKROCK Ltd DURATION INCOME TRUST

(Name of Issuer)

Common Stock

(Title of Class of Securities)

09249W101

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 09249W101

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 30,872.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,167,837.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,167,837.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.7 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP Number(s): 09249W101

1

Names of Reporting Persons

Morgan Stanley Smith Barney LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,136,966.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,136,966.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.6 %

12

Type of Reporting Person (See Instructions)

BD, IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BLACKROCK Ltd DURATION INCOME TRUST
(b)	Address of issuer's principal executive offices: 100 BELLEVUE PARKWAY, MUTUAL FUND DEPARTMENT, WILMINGTON, DE, 19809
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Smith Barney LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 09249W101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 10.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	05/11/2026

Morgan Stanley Smith Barney LLC

Signature:	David Galasso
Name/Title:	Authorized Signatory, Morgan Stanley Smith Barney LLC
Date:	05/11/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

What stake did Morgan Stanley report in BLW?

Morgan Stanley reported beneficial ownership of 10.7% of BLW common stock. The filing lists 4,167,837 shares attributed to shared dispositive power for Morgan Stanley reporting units and shows the percentage alongside the reported share count.

How much did Morgan Stanley Smith Barney LLC report owning in BLW?

Morgan Stanley Smith Barney LLC reported beneficial ownership of 10.6% of BLW common stock. The cover shows 4,136,966 shares under shared dispositive power for that entity in the Schedule 13G/A amendment.

When was the Schedule 13G/A amendment signed?

The amendment bears signature dates of 05/11/2026 for both Morgan Stanley and Morgan Stanley Smith Barney LLC. The filing references the Release No. 34-39538 aggregation rules in its explanatory footnote.

Does this filing aggregate multiple Morgan Stanley reporting units?

Yes. The filing states it aggregates securities held or deemed beneficially owned by certain MS Reporting Units in accordance with Release No. 34-39538. Exhibit references (99.1 and 99.2) are attached for joint-filing and subsidiary identification.