UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21702
____BlackRock Health Sciences Trust
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(Exact name of registrant as specified in charter)
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Robert S. Kapito, President
BlackRock Health Sciences Trust
40 East 52nd Street, New York, NY 10022
Registrant's telephone number, including
area code: 888-825-2257__________________
Date of fiscal year end:___October 31, 2006__________________________________
Date of reporting period:__ April
30, 2006____________________________________
Item 1. Reports to Stockholders.
The
Registrant’s semi-annual report transmitted to stockholders pursuant to
Rule 30e-1 under the Investment Company Act of 1940 is as follows:
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FIXED INCOME LIQUIDITY EQUITIES ALTERNATIVES BLACKROCK SOLUTIONS |
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BlackRock |
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Closed-End Funds |
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Semi-Annual Report |
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APRIL 30, 2006 (Unaudited) |
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BlackRock Dividend AchieversTM Trust (BDV) |
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BlackRock Enhanced Dividend AchieversTM Trust (BDJ) |
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BlackRock Global Energy and Resources Trust (BGR) |
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BlackRock Global Opportunities Equity Trust (BOE) |
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BlackRock Health Sciences Trust (BME) |
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BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY) |
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BlackRock Strategic Dividend AchieversTM Trust (BDT) |
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BlackRock World Investment Trust (BWC) |
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NOT FDIC INSURED |
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TABLE OF CONTENTS
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1 |
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2 |
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Financial Statements |
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13 |
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47 |
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49 |
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51 |
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53 |
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61 |
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67 |
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68 |
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69 |
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The Trusts are committed to maintaining the privacy of shareholders and to safeguarding their non-public personal information. The following information is provided to help you understand what personal information the Trusts collect, how we protect that information and why, in certain cases, we may share information with select other parties.
Generally, the Trusts do not receive any non-public personal information relating to their shareholders, although certain non-public personal information of shareholders may become available to the Trusts. The Trusts do not disclose any non-public personal information about their shareholders or former shareholders to anyone, except as permitted by law or as is necessary in order to service shareholder accounts (for example, to a transfer agent or third-party administrator).
April 30, 2006
Dear Shareholder:
We are pleased to present the semi-annual report for the Trusts for the six months ended April 30, 2006. This report contains the Trusts’ unaudited and audited financial statements and a listing of the portfolios’ holdings.
The following table shows the Trusts’ closing market prices and net asset values (“NAV”) per share as of April 30, 2006.
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Trust (Ticker) |
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Closing Market Value |
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NAV |
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BlackRock Dividend AchieversTM Trust (BDV) |
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$ |
12.98 |
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$ |
15.02 |
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BlackRock Enhanced Dividend AchieversTM Trust (BDJ) |
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13.30 |
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14.39 |
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BlackRock Global Energy and Resources Trust (BGR) |
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27.12 |
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31.77 |
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BlackRock Global Opportunities Equity Trust (BOE) |
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25.80 |
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27.41 |
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BlackRock Health Sciences Trust (BME) |
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24.98 |
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27.37 |
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BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY) |
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15.15 |
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17.49 |
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BlackRock Strategic Dividend AchieversTM Trust (BDT) |
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13.85 |
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15.75 |
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BlackRock World Investment Trust (BWC) |
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16.53 |
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16.87 |
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BlackRock, Inc. (“BlackRock”), a world leader in asset management, is recognized for its emphasis on risk management and proprietary analytics, and for its reputation for managing money for the world’s largest institutional investors. As of March 31, 2006, BlackRock’s assets under management totaled approximately $463 billion across various investment strategies. BlackRock is also a significant provider of risk management and advisory services that combine our capital markets expertise with our proprietarily developed risk management systems and technology. As of March 31, 2006, BlackRock provided risk management services to portfolios with aggregate assets of over $3.5 trillion. BlackRock Advisors, Inc. and its affiliates, BlackRock Financial Management, Inc. and State Street Research and Management Company, which manage the Trusts, are wholly owned subsidiaries of BlackRock.
On behalf of BlackRock, we thank you for your continued confidence and assure you that we remain committed to excellence in managing your assets.
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Sincerely, |
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Laurence D. Fink |
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Ralph L. Schlosstein |
1
TRUST SUMMARIES (unaudited)
APRIL 30, 2006
BlackRock Dividend AchieversTM Trust (BDV)
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Symbol on New York Stock Exchange: |
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BDV |
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Initial Offering Date: |
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December 23, 2003 |
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Closing Market Price as of 4/30/06: |
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12.98 |
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Net Asset Value as of 4/30/06: |
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$ |
15.02 |
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Current Quarterly Distribution per Common Share:1 |
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$ |
0.2250 |
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Current Annualized Distribution per Common Share:1 |
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$ |
0.9000 |
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1 |
The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end. |
The table below summarizes the Trust’s market price and NAV:
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4/30/06 |
10/31/05 |
Change |
High |
Low |
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Market Price |
$12.98 |
$12.77 |
1.64% |
$13.48 |
$12.28 |
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NAV |
$15.02 |
$14.21 |
5.70% |
$15.02 |
$14.15 |
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The following chart shows the portfolio composition of the Trust’s long-term investments:
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Sector |
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April 30, 2006 |
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October 31, 2005 |
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Financial Institutions |
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41 |
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43 |
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Consumer Products |
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14 |
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13 |
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Energy |
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14 |
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Health Care |
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12 |
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10 |
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Telecommunications |
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5 |
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5 |
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Conglomerates |
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4 |
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3 |
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Real Estate |
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4 |
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4 |
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Basic Materials |
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2 |
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2 |
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Industrials |
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2 |
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1 |
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Automotive |
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1 |
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1 |
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Technology |
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1 |
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1 |
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2 |
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
2
TRUST SUMMARIES (unaudited)
APRIL 30, 2006
BlackRock Enhanced Dividend AchieversTM Trust (BDJ)
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Symbol on New York Stock Exchange: |
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BDJ |
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Initial Offering Date: |
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August 31, 2005 |
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Closing Market Price as of 4/30/06: |
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$ |
13.30 |
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Net Asset Value as of 4/30/06: |
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$ |
14.39 |
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Current Monthly Distribution per Common Share:1 |
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$ |
0.101875 |
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Current Annualized Distribution per Common Share:1 |
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$ |
1.2225 |
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1 |
The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end. |
The table below summarizes the Trust’s market price and NAV:
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4/30/06 |
10/31/05 |
Change |
High |
Low |
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Market Price |
$13.30 |
$13.79 |
(3.55)% |
$14.31 |
$12.16 |
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NAV |
$14.39 |
$14.01 |
2.71% |
$14.47 |
$13.96 |
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The following chart shows the portfolio composition of the Trust’s long-term investments:
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April 30, 2006 |
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October 31, 2005 |
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Financial Institutions |
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39 |
% |
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42 |
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Consumer Products |
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15 |
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15 |
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Energy |
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14 |
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13 |
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Health Care |
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14 |
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13 |
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Real Estate |
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5 |
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5 |
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Telecommunications |
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5 |
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5 |
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Conglomerates |
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4 |
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5 |
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Industrials |
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2 |
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1 |
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Basic Materials |
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1 |
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1 |
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Technology |
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1 |
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— |
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2 |
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
3
TRUST SUMMARIES (unaudited)
APRIL 30, 2006
BlackRock Global Energy and Resources Trust (BGR)
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Symbol on New York Stock Exchange: |
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BGR |
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Initial Offering Date: |
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December 29, 2004 |
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Closing Market Price as of 4/30/06: |
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$ |
27.12 |
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Net Asset Value as of 4/30/06: |
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$ |
31.77 |
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Current Quarterly Distribution per Common Share:1 |
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$ |
0.3750 |
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Current Annualized Distribution per Common Share:1 |
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$ |
1.5000 |
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1 |
The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end. |
The table below summarizes the Trust’s market price and NAV:
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4/30/06 |
10/31/05 |
Change |
High |
Low |
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Market Price |
$27.12 |
$25.16 |
7.79% |
$28.00 |
$24.41 |
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NAV |
$31.77 |
$28.12 |
12.98% |
$32.09 |
$27.45 |
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The following charts show the portfolio composition of the Trust’s long-term investments:
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Country |
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April 30, 2006 |
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October 31, 2005 |
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United States |
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64 |
% |
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61 |
% |
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Canada |
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20 |
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24 |
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Bermuda |
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3 |
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3 |
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Luxembourg |
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2 |
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1 |
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Norway |
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2 |
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2 |
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United Kingdom |
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2 |
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2 |
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Australia |
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1 |
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2 |
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Brazil |
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1 |
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1 |
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Cayman Islands |
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1 |
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— |
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Denmark |
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1 |
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1 |
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France |
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1 |
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1 |
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Italy |
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1 |
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1 |
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Netherlands |
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1 |
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1 |
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Sector2 |
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April 30, 2006 |
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October 31, 2005 |
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Energy |
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96 |
% |
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93 |
% |
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Basic Materials |
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2 |
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3 |
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Industrials |
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1 |
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— |
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Transportation |
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1 |
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3 |
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Building & Development |
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— |
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1 |
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2 |
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
4
TRUST SUMMARIES
(unaudited)
APRIL 30, 2006
BlackRock Global Opportunities Equity Trust (BOE)
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Symbol on New York Stock Exchange: |
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BOE |
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Initial Offering Date: |
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May 31, 2005 |
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Closing Market Price as of 4/30/06: |
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$ |
25.80 |
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Net Asset Value as of 4/30/06: |
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$ |
27.41 |
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Current Quarterly Distribution per Common Share:1 |
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$ |
0.568750 |
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Current Annualized Distribution per Common Share:1 |
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$ |
2.2750 |
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|
1 |
The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end. |
The table below summarizes the Trust’s market price and NAV:
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4/30/06 |
10/31/05 |
Change |
High |
Low |
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|
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Market Price |
$25.80 |
$23.88 |
8.04% |
$26.00 |
$21.43 |
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NAV |
$27.41 |
$23.77 |
15.31% |
$27.42 |
$23.29 |
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The following charts show the portfolio composition of the Trust’s long-term investments:
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Country |
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April 30, 2006 |
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October 31, 2005 |
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||
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United Kingdom |
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19 |
% |
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23 |
% |
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United States |
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11 |
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11 |
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|
|
|
|
|
|
Japan |
|
10 |
|
|
13 |
|
|
|
|
|
|
|
|
|
|
|
|
Germany |
|
7 |
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
Hong Kong |
|
6 |
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
|
Sweden |
|
6 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
Canada |
|
4 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
Italy |
|
4 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Netherlands |
|
4 |
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
|
Norway |
|
4 |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
South Korea |
|
4 |
|
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
Australia |
|
3 |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
Brazil |
|
2 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
Finland |
|
2 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
France |
|
2 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Greece |
|
2 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
Ireland |
|
2 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Singapore |
|
2 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
South Africa |
|
2 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
China |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Denmark |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Mexico |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
New Zealand |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Taiwan |
|
— |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
5
BlackRock Global Opportunities Equity Trust (BOE) (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Sector2 |
|
April 30, 2006 |
|
October 31, 2005 |
|
||
|
|
|
|
|
|
|
||
|
Financial Institutions |
|
29 |
% |
|
27 |
% |
|
|
|
|
|
|
|
|
|
|
|
Energy |
|
20 |
|
|
19 |
|
|
|
|
|
|
|
|
|
|
|
|
Industrials |
|
14 |
|
|
12 |
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Products |
|
13 |
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
Building & Development |
|
6 |
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
4 |
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
|
Automotive |
|
3 |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
Basic Materials |
|
3 |
|
|
9 |
|
|
|
|
|
|
|
|
|
|
|
|
Business Equipment & Services |
|
2 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunications |
|
2 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Conglomerates |
|
1 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Entertainment & Leisure |
|
1 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
Media |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Technology |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Containers & Packaging |
|
— |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Transportation |
|
— |
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
6
TRUST SUMMARIES
(unaudited)
APRIL 30, 2006
BlackRock Health Sciences Trust (BME)
|
|
|
|
|
|
|
|
|
|
|
|
|
Symbol on New York Stock Exchange: |
|
BME |
|
|
|
|
|
|
|
|
|
Initial Offering Date: |
|
March 31, 2005 |
|
|
|
|
|
|
|
|
|
Closing Market Price as of 4/30/06: |
|
$ |
24.98 |
|
|
|
|
|
|
|
|
Net Asset Value as of 4/30/06: |
|
$ |
27.37 |
|
|
|
|
|
|
|
|
Current Quarterly Distribution per Common Share:1 |
|
$ |
0.384375 |
|
|
|
|
|
|
|
|
Current Annualized Distribution per Common Share:1 |
|
$ |
1.5375 |
|
|
|
|
|
|
|
|
|
|
|
1 |
The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end. |
The table below summarizes the Trust’s market price and NAV:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4/30/06 |
10/31/05 |
Change |
High |
Low |
|
|
|
|
|
|
|
|
Market Price |
$24.98 |
$25.19 |
(0.83)% |
$28.10 |
$24.16 |
|
|
|
|
|
|
|
|
NAV |
$27.37 |
$26.38 |
3.75% |
$29.26 |
$26.27 |
|
|
|
|
|
|
|
The following charts show the portfolio composition of the Trust’s long-term investments.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Country |
|
April 30, 2006 |
|
October 31, 2005 |
|
||
|
|
|
|
|
|
|
||
|
United States |
|
82 |
% |
|
85 |
% |
|
|
|
|
|
|
|
|
|
|
|
United Kingdom |
|
9 |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
Switzerland |
|
6 |
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
|
Canada |
|
2 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
France |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Israel |
|
— |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
All of the Trust’s long-term investments are in the health sciences industry.
7
TRUST SUMMARIES (unaudited)
APRIL 30, 2006
BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY)
|
|
|
|
|
|
|
|
|
|
|
Symbol on American Stock Exchange: |
|
BQY |
|
|
|
|
|
|
|
Initial Offering Date: |
|
May 28, 2004 |
|
|
|
|
|
|
|
Closing Market Price as of 4/30/06: |
|
$ |
15.15 |
|
|
|
|
|
|
Net Asset Value as of 4/30/06: |
|
$ |
17.49 |
|
|
|
|
|
|
Current Quarterly Distribution per Common Share:1 |
|
$ |
0.2250 |
|
|
|
|
|
|
Current Annualized Distribution per Common Share:1 |
|
$ |
0.9000 |
|
|
|
|
|
|
|
|
|
1 |
The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end. |
The table below summarizes the Trust’s market price and NAV:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4/30/06 |
10/31/05 |
Change |
High |
Low |
|
|
|
|
|
|
|
|
Market Price |
$15.15 |
$14.54 |
4.20% |
$15.24 |
$13.94 |
|
|
|
|
|
|
|
|
NAV |
$17.49 |
$15.98 |
9.45% |
$17.49 |
$15.86 |
|
|
|
|
|
|
|
The following charts show the portfolio composition of the Trust’s long-term investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Country |
|
April 30, 2006 |
|
October 31, 2005 |
|
||
|
|
|
|
|
|
|
||
|
United States |
|
54 |
% |
|
56 |
% |
|
|
|
|
|
|
|
|
|
|
|
United Kingdom |
|
11 |
|
|
13 |
|
|
|
|
|
|
|
|
|
|
|
|
Canada |
|
7 |
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
Australia |
|
5 |
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
|
France |
|
5 |
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
Japan |
|
5 |
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
Sweden |
|
3 |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
Germany |
|
2 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
Hong Kong |
|
2 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Netherlands |
|
2 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
Austria |
|
1 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Denmark |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Italy |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Spain |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Singapore |
|
— |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
8
BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY) (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Sector2 |
|
April 30, 2006 |
|
October 31, 2005 |
|
||
|
|
|
|
|
|
|
||
|
Financial Institutions |
|
25 |
% |
|
24 |
% |
|
|
|
|
|
|
|
|
|
|
|
Energy |
|
16 |
|
|
16 |
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Products |
|
9 |
|
|
12 |
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
9 |
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
Technology |
|
9 |
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
Health Care |
|
7 |
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunications |
|
7 |
|
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
Industrials |
|
4 |
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
Conglomerates |
|
3 |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
Automotive |
|
2 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Basic Materials |
|
2 |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
Building & Development |
|
2 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Business Equipment & Services |
|
2 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace & Defense |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Entertainment & Leisure |
|
1 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Media |
|
1 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
9
TRUST SUMMARIES
(unaudited)
APRIL 30, 2006
BlackRock Strategic Dividend AchieversTM Trust (BDT)
|
|
|
|
|
|
|
|
|
|
|
Symbol on New York Stock Exchange: |
|
BDT |
|
|
|
|
|
|
|
Initial Offering Date: |
|
March 30, 2004 |
|
|
|
|
|
|
|
Closing Market Price as of 4/30/06: |
|
$ |
13.85 |
|
|
|
|
|
|
Net Asset Value as of 4/30/06: |
|
$ |
15.75 |
|
|
|
|
|
|
Current Quarterly Distribution per Common Share:1 |
|
$ |
0.2250 |
|
|
|
|
|
|
Current Annualized Distribution per Common Share:1 |
|
$ |
0.9000 |
|
|
|
|
|
|
|
|
|
1 |
The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end. |
The table below summarizes the Trust’s market price and NAV:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4/30/06 |
10/31/05 |
Change |
High |
Low |
|
|
|
|
|
|
|
|
Market Price |
$13.85 |
$13.20 |
4.92% |
$14.05 |
$12.82 |
|
|
|
|
|
|
|
|
NAV |
$15.75 |
$15.14 |
4.03% |
$15.88 |
$15.07 |
|
|
|
|
|
|
|
The following chart shows the portfolio composition of the Trust’s long-term investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Sector |
|
April 30, 2006 |
|
October 31, 2005 |
|
||
|
|
|
|
|
|
|
||
|
Financial Institutions |
|
43 |
% |
|
44 |
% |
|
|
|
|
|
|
|
|
|
|
|
Energy |
|
16 |
|
|
17 |
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Products |
|
13 |
|
|
13 |
|
|
|
|
|
|
|
|
|
|
|
|
Industrials |
|
11 |
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
10 |
|
|
9 |
|
|
|
|
|
|
|
|
|
|
|
|
Automotive |
|
4 |
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
Basic Materials |
|
2 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
Health Care |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
10
TRUST SUMMARIES (unaudited)
APRIL 30, 2006
BlackRock World Investment Trust (BWC)
|
|
|
|
|
|
|
|
|
|
|
Symbol on New York Stock Exchange: |
|
BWC |
|
|
|
|
|
|
|
Initial Offering Date: |
|
October 27, 2005 |
|
|
|
|
|
|
|
Closing Market Price as of 4/30/06: |
|
$ |
16.53 |
|
|
|
|
|
|
Net Asset Value as of 4/30/06: |
|
$ |
16.87 |
|
|
|
|
|
|
Current Monthly Distribution per Share:1 |
|
$ |
0.113750 |
|
|
|
|
|
|
Current Annualized Distribution per Share:1 |
|
$ |
1.3650 |
|
|
|
|
|
|
|
|
|
1 |
The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end. |
The table below summarizes the Trust’s market price and NAV:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4/30/06 |
10/31/05 |
Change |
High |
Low |
|
|
|
|
|
|
|
|
Market Price |
$16.53 |
$15.08 |
9.62% |
$16.54 |
$14.35 |
|
|
|
|
|
|
|
|
NAV |
$16.87 |
$14.42 |
16.99% |
$16.87 |
$14.42 |
|
|
|
|
|
|
|
The following charts show the portfolio composition of the Trust’s long-term investments:
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|
Country |
|
April 30, 2006 |
|
October 31, 2005 |
|
||
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|
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|
|
||
|
Japan |
|
18 |
% |
|
20 |
% |
|
|
|
|
|
|
|
|
|
|
|
United States |
|
13 |
|
|
19 |
|
|
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United Kingdom |
|
12 |
|
|
12 |
|
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Sweden |
|
8 |
|
|
7 |
|
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Germany |
|
5 |
|
|
4 |
|
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Italy |
|
5 |
|
|
3 |
|
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Netherlands |
|
5 |
|
|
5 |
|
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Australia |
|
3 |
|
|
3 |
|
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|
|
|
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|
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Brazil |
|
3 |
|
|
3 |
|
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Finland |
|
3 |
|
|
3 |
|
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Hong Kong |
|
3 |
|
|
2 |
|
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|
|
|
|
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|
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Mexico |
|
3 |
|
|
2 |
|
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Norway |
|
3 |
|
|
4 |
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Bermuda |
|
2 |
|
|
2 |
|
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Canada |
|
2 |
|
|
2 |
|
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|
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|
|
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|
|
|
|
France |
|
2 |
|
|
2 |
|
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|
Switzerland |
|
2 |
|
|
1 |
|
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Belgium |
|
1 |
|
|
1 |
|
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|
|
China |
|
1 |
|
|
2 |
|
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|
Denmark |
|
1 |
|
|
1 |
|
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|
Greece |
|
1 |
|
|
— |
|
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|
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|
Singapore |
|
1 |
|
|
1 |
|
|
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|
|
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|
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|
South Africa |
|
1 |
|
|
— |
|
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|
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|
|
|
|
Spain |
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Thailand |
|
1 |
|
|
— |
|
|
|
|
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|
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|
|
|
|
11
BlackRock World Investment Trust (BWC) (continued)
|
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|
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|
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|
||
|
Sector2 |
|
April 30, 2006 |
|
October 31, 2005 |
|
||
|
|
|
|
|
|
|
||
|
Financial Institutions |
|
23 |
% |
|
19 |
% |
|
|
|
|
|
|
|
|
|
|
|
Energy |
|
22 |
|
|
23 |
|
|
|
|
|
|
|
|
|
|
|
|
Industrials |
|
20 |
|
|
21 |
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Products |
|
12 |
|
|
16 |
|
|
|
|
|
|
|
|
|
|
|
|
Basic Materials |
|
9 |
|
|
13 |
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunications |
|
4 |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
Automotive |
|
2 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Media |
|
2 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
2 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Technology |
|
2 |
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
Building & Development |
|
1 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Health Care |
|
1 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Foreign Government |
|
— |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
12
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Dividend AchieversTM Trust (BDV)
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM INVESTMENTS—99.4% |
|
|
|
|
|
|
|
|
Common Stocks—99.4% |
|
|
|
|
|
|
|
|
Aerospace & Defense—0.3% |
|
|
|
|
|
|
34,300 |
|
United Technologies Corp. |
|
$ |
2,154,383 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Automotive—0.8% |
|
|
|
|
|
|
142,900 |
|
Genuine Parts Co. |
|
|
6,237,585 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic Materials—1.7% |
|
|
|
|
|
|
69,300 |
|
PPG Industries, Inc. |
|
|
4,651,416 |
|
|
|
225,500 |
|
RPM Intl., Inc. |
|
|
4,149,200 |
|
|
|
167,000 |
|
Sonoco Products Co. |
|
|
5,230,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Basic Materials |
|
|
14,031,056 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Conglomerates—3.9% |
|
|
|
|
|
|
914,100 |
|
General Electric Co. |
|
|
31,618,719 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Products—14.1% |
|
|
|
|
|
|
503,300 |
|
Altria Group, Inc. |
|
|
36,821,428 |
|
|
|
97,700 |
|
Anheuser-Busch Cos., Inc. |
|
|
4,355,466 |
|
|
|
481,900 |
|
Coca-Cola Co. (The) |
|
|
20,220,524 |
|
|
|
427,000 |
|
ConAgra Foods, Inc. |
|
|
9,684,360 |
|
|
|
48,200 |
|
Home Depot, Inc. |
|
|
1,924,626 |
|
|
|
186,200 |
|
Kimberly-Clark Corp. |
|
|
10,898,286 |
|
|
|
172,500 |
|
McDonald’s Corp. |
|
|
5,963,325 |
|
|
|
72,000 |
|
Procter & Gamble Co. (The) |
|
|
4,191,120 |
|
|
|
524,400 |
|
Sara Lee Corp. |
|
|
9,371,028 |
|
|
|
48,300 |
|
Stanley Works (The) |
|
|
2,523,675 |
|
|
|
154,000 |
|
Universal Corp. |
|
|
5,862,780 |
|
|
|
79,400 |
|
Wal-Mart Stores, Inc. |
|
|
3,575,382 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Products |
|
|
115,392,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy—14.2% |
|
|
|
|
|
|
120,000 |
|
Atmos Energy Corp. |
|
|
3,184,800 |
|
|
|
604,000 |
|
Chevron Corp. |
|
|
36,856,080 |
|
|
|
407,100 |
|
Consolidated Edison, Inc. |
|
|
17,554,152 |
|
|
|
363,000 |
|
Exxon Mobil Corp. |
|
|
22,898,040 |
|
|
|
117,000 |
|
National Fuel Gas Co. |
|
|
3,890,250 |
|
|
|
42,900 |
|
Peoples Energy Corp. |
|
|
1,558,557 |
|
|
|
199,700 |
|
Pinnacle West Capital Corp. |
|
|
8,007,970 |
|
|
|
339,300 |
|
Progress Energy, Inc. |
|
|
14,522,040 |
|
|
|
104,100 |
|
Vectren Corp. |
|
|
2,781,552 |
|
|
|
67,600 |
|
WGL Holdings, Inc. |
|
|
1,988,792 |
|
|
|
56,900 |
|
WPS Resources Corp. |
|
|
2,844,431 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Energy |
|
|
116,086,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Institutions—40.2% |
|
|
|
|
|
|
75,000 |
|
Allstate Corp. |
|
|
4,236,750 |
|
|
|
60,000 |
|
American Intl. Group |
|
|
3,915,000 |
|
|
|
582,300 |
|
AmSouth Bancorp |
|
|
16,851,762 |
|
|
|
135,600 |
|
Arthur J. Gallagher & Co. |
|
|
3,720,864 |
|
|
|
881,835 |
|
Bank of America Corp. |
|
|
44,021,203 |
|
|
|
429,600 |
|
BB&T Corp. |
|
|
18,447,024 |
|
|
|
766,300 |
|
Citigroup, Inc. |
|
|
38,276,685 |
|
|
|
281,400 |
|
Comerica, Inc. |
|
|
16,003,218 |
|
|
|
346,000 |
|
Fifth Third Bancorp |
|
|
13,985,320 |
|
|
|
151,400 |
|
First Commonwealth Financial Corp. |
|
|
2,025,732 |
|
|
|
52,600 |
|
FirstMerit Corp. |
|
|
1,293,434 |
|
|
|
123,500 |
|
FNB Corp. |
|
|
2,072,330 |
|
|
|
41,200 |
|
Franklin Resources, Inc. |
|
|
3,836,544 |
|
|
|
61,000 |
|
Freddie Mac |
|
|
3,724,660 |
|
|
|
561,100 |
|
KeyCorp |
|
|
21,445,242 |
|
|
|
99,500 |
|
Lincoln National Corp. |
|
|
5,778,960 |
|
|
|
783,800 |
|
National City Corp. |
|
|
28,922,220 |
|
|
|
432,000 |
|
North Fork Bancorporation, Inc. |
|
|
13,016,160 |
|
|
|
100,000 |
|
Popular, Inc. |
|
|
2,068,000 |
|
|
|
168,000 |
|
SunTrust Bank, Inc. |
|
|
12,991,440 |
|
|
|
69,000 |
|
T. Rowe Price Group, Inc. |
|
|
5,809,110 |
|
|
|
73,437 |
|
TD Banknorth, Inc. |
|
|
2,180,345 |
|
See Notes to Financial Statements.
13
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Dividend AchieversTM Trust (BDV) (continued)
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
Financial Institutions—(cont’d) |
|
|
|
|
|
|
97,755 |
|
Valley National Bancorp |
|
$ |
2,545,540 |
|
|
|
663,700 |
|
Washington Mutual, Inc. |
|
|
29,906,322 |
|
|
|
469,700 |
|
Wells Fargo & Co. |
|
|
32,263,693 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Financial Institutions |
|
|
329,337,558 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care—11.9% |
|
|
|
|
|
|
174,100 |
|
Abbott Laboratories |
|
|
7,441,034 |
|
|
|
315,400 |
|
Eli Lilly & Co. |
|
|
16,690,968 |
|
|
|
257,500 |
|
Johnson & Johnson |
|
|
15,092,075 |
|
|
|
775,200 |
|
Merck & Co., Inc. |
|
|
26,682,384 |
|
|
|
1,258,000 |
|
Pfizer, Inc. |
|
|
31,865,140 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Health Care |
|
|
97,771,601 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrials—1.7% |
|
|
|
|
|
|
77,100 |
|
3M Co. |
|
|
6,586,653 |
|
|
|
27,800 |
|
Caterpillar, Inc. |
|
|
2,105,572 |
|
|
|
27,900 |
|
Emerson Electric Co. |
|
|
2,370,105 |
|
|
|
207,200 |
|
ServiceMaster Co. (The) |
|
|
2,494,688 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Industrials |
|
|
13,557,018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate—4.4% |
|
|
|
|
|
|
89,200 |
|
Commercial Net Lease Realty (REIT) |
|
|
1,877,660 |
|
|
|
119,200 |
|
General Growth Properties, Inc. (REIT) |
|
|
5,596,440 |
|
|
|
184,400 |
|
Health Care Property Investors, Inc. (REIT) |
|
|
5,056,248 |
|
|
|
55,000 |
|
Healthcare Realty Trust, Inc. (REIT) |
|
|
2,082,850 |
|
|
|
97,000 |
|
Home Properties, Inc. (REIT) |
|
|
4,851,940 |
|
|
|
94,000 |
|
Lexington Corporate Properties Trust (REIT) |
|
|
2,026,640 |
|
|
|
102,000 |
|
Liberty Property Trust (REIT) |
|
|
4,559,400 |
|
|
|
85,900 |
|
Realty Income Corp. (REIT) |
|
|
1,947,353 |
|
|
|
58,300 |
|
Sun Communities, Inc. (REIT) |
|
|
1,897,665 |
|
|
|
167,400 |
|
United Dominion Realty Trust, Inc. (REIT) |
|
|
4,551,606 |
|
|
|
57,800 |
|
Universal Health Realty Income Trust (REIT) |
|
|
1,858,848 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate |
|
|
36,306,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Technology—1.4% |
|
|
|
|
|
|
50,100 |
|
Intl. Business Machines Corp. |
|
|
4,125,234 |
|
|
|
184,000 |
|
Pitney Bowes, Inc. |
|
|
7,700,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Technology |
|
|
11,825,634 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunications—4.8% |
|
|
|
|
|
|
63,000 |
|
Alltel Corp. |
|
|
4,055,310 |
|
|
|
1,360,000 |
|
AT&T, Inc. |
|
|
35,645,600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Telecommunications |
|
|
39,700,910 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks (cost $752,241,938) |
|
|
814,019,778 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MONEY MARKET FUND—0.4% |
|
|
|
|
|
|
3,249,538 |
|
Fidelity Institutional Money Market Prime Portfolio (cost $3,249,538) |
|
|
3,249,538 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments—99.8% (cost $755,491,4761) |
|
$ |
817,269,316 |
|
|
|
|
|
Other assets in excess of liabilities—0.2% |
|
|
1,595,245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
$ |
818,864,561 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Cost for federal income tax purposes is $754,999,459. The net unrealized appreciation on a tax basis is $62,269,857, consisting of $80,921,207 gross unrealized appreciation and $18,651,350 gross unrealized depreciation. |
|
|
|
|
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
|
|
|
|
|
|
KEY TO ABBREVIATIONS |
|
|
|
REIT — Real Estate Investment Trust |
|
|
See Notes to Financial Statements.
14
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Enhanced Dividend AchieversTM Trust (BDJ)
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM INVESTMENTS—96.0% |
|
|
|
|
|
|
|
|
Common Stocks—96.0% |
|
|
|
|
|
|
|
|
Basic Materials—1.2% |
|
|
|
|
|
|
92,100 |
|
PPG Industries, Inc. |
|
$ |
6,181,752 |
|
|
|
294,200 |
|
RPM Intl., Inc. |
|
|
5,413,280 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Basic Materials |
|
|
11,595,032 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Conglomerates—4.4% |
|
|
|
|
|
|
1,273,000 |
|
General Electric Co. |
|
|
44,033,070 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Products—14.6% |
|
|
|
|
|
|
608,400 |
1 |
Altria Group, Inc. |
|
|
44,510,544 |
|
|
|
82,500 |
|
Anheuser-Busch Cos., Inc. |
|
|
3,677,850 |
|
|
|
1,083,900 |
|
Coca-Cola Co. (The) |
|
|
45,480,444 |
|
|
|
803,800 |
|
ConAgra Foods, Inc. |
|
|
18,230,184 |
|
|
|
80,200 |
1 |
Kimberly-Clark Corp. |
|
|
4,694,106 |
|
|
|
160,700 |
|
La-Z-Boy, Inc. |
|
|
2,461,924 |
|
|
|
118,700 |
|
McDonald’s Corp. |
|
|
4,103,459 |
|
|
|
978,500 |
|
Sara Lee Corp. |
|
|
17,485,795 |
|
|
|
85,500 |
|
Stanley Works (The) |
|
|
4,467,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Products |
|
|
145,111,681 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy—13.0% |
|
|
|
|
|
|
206,200 |
1 |
Atmos Energy Corp. |
|
|
5,472,548 |
|
|
|
137,100 |
|
Black Hills Corp. |
|
|
4,990,440 |
|
|
|
784,600 |
|
Chevron Corp. |
|
|
47,876,292 |
|
|
|
421,200 |
|
Consolidated Edison, Inc. |
|
|
18,162,144 |
|
|
|
151,000 |
|
Exxon Mobil Corp. |
|
|
9,525,080 |
|
|
|
86,000 |
|
National Fuel Gas Co. |
|
|
2,859,500 |
|
|
|
63,000 |
|
Nicor, Inc. |
|
|
2,495,430 |
|
|
|
89,300 |
|
Otter Tail Corp. |
|
|
2,665,605 |
|
|
|
206,200 |
|
Peoples Energy Corp. |
|
|
7,491,246 |
|
|
|
127,400 |
|
Pinnacle West Capital Corp. |
|
|
5,108,740 |
|
|
|
390,400 |
|
Progress Energy, Inc. |
|
|
16,709,120 |
|
|
|
152,500 |
|
Vectren Corp. |
|
|
4,074,800 |
|
|
|
42,700 |
|
WPS Resources Corp. |
|
|
2,134,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Energy |
|
|
129,565,518 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Institutions—37.3% |
|
|
|
|
|
|
45,100 |
1 |
Allstate Corp. |
|
|
2,547,699 |
|
|
|
595,688 |
|
AmSouth Bancorp |
|
|
17,239,211 |
|
|
|
192,000 |
|
Arthur J. Gallagher & Co. |
|
|
5,268,480 |
|
|
|
216,500 |
|
BancorpSouth, Inc. |
|
|
5,548,895 |
|
|
|
637,100 |
|
Bank of America Corp. |
|
|
31,804,032 |
|
|
|
361,600 |
1 |
BB&T Corp. |
|
|
15,527,104 |
|
|
|
93,100 |
|
Chemical Financial Corp. |
|
|
2,710,141 |
|
|
|
907,200 |
|
Citigroup, Inc. |
|
|
45,314,640 |
|
|
|
305,600 |
|
Comerica, Inc. |
|
|
17,379,472 |
|
|
|
631,100 |
|
Fifth Third Bancorp |
|
|
25,509,062 |
|
|
|
178,300 |
|
FirstMerit Corp. |
|
|
4,384,397 |
|
|
|
38,900 |
|
Freddie Mac |
|
|
2,375,234 |
|
|
|
279,906 |
|
Fulton Financial Corp. |
|
|
4,604,454 |
|
|
|
195,800 |
|
KeyCorp |
|
|
7,483,476 |
|
|
|
219,174 |
|
Lincoln National Corp. |
|
|
12,729,626 |
|
|
|
497,300 |
|
National City Corp. |
|
|
18,350,370 |
|
|
|
226,341 |
|
North Fork Bancorporation, Inc. |
|
|
6,819,654 |
|
|
|
133,300 |
|
Old Republic Intl. Group |
|
|
2,965,925 |
|
|
|
218,200 |
|
Regions Financial Corp. |
|
|
7,966,482 |
|
|
|
186,010 |
|
Republic Bancorp, Inc. |
|
|
2,133,535 |
|
|
|
76,900 |
|
S&T Bancorp, Inc. |
|
|
2,730,719 |
|
|
|
227,400 |
|
SunTrust Bank, Inc |
|
|
17,584,842 |
|
|
|
120,800 |
|
Synovus Financial Corp. |
|
|
3,382,400 |
|
|
|
58,200 |
|
T. Rowe Price Group, Inc. |
|
|
4,899,858 |
|
|
|
143,147 |
|
TD Banknorth, Inc. |
|
|
4,250,034 |
|
|
|
230,500 |
|
Washington Federal, Inc. |
|
|
5,513,560 |
|
|
|
1,064,500 |
|
Washington Mutual, Inc. |
|
|
47,966,370 |
|
|
|
664,031 |
|
Wells Fargo & Co. |
|
|
45,612,289 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Financial Institutions |
|
|
370,601,961 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
15
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Enhanced Dividend AchieversTM Trust (BDJ) (continued)
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
Health Care—13.3% |
|
|
|
|
|
|
102,000 |
1 |
Abbott Laboratories |
|
$ |
4,359,480 |
|
|
|
796,600 |
|
Eli Lilly & Co. |
|
|
42,156,072 |
|
|
|
101,400 |
|
Johnson & Johnson |
|
|
5,943,054 |
|
|
|
1,016,512 |
|
Merck & Co., Inc. |
|
|
34,988,343 |
|
|
|
1,774,100 |
1 |
Pfizer, Inc. |
|
|
44,937,953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Health Care |
|
|
132,384,902 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrials—1.3% |
|
|
|
|
|
|
64,700 |
|
3M Co. |
|
|
5,527,321 |
|
|
|
71,700 |
|
RR Donnelley & Sons Co. |
|
|
2,415,573 |
|
|
|
442,200 |
|
ServiceMaster Co. (The) |
|
|
5,324,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Industrials |
|
|
13,266,982 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate—5.0% |
|
|
|
|
|
|
55,100 |
|
Colonial Properties Trust (REIT) |
|
|
2,713,124 |
|
|
|
127,200 |
|
Commercial Net Lease Realty (REIT) |
|
|
2,677,560 |
|
|
|
145,300 |
|
Duke Realty Corp. (REIT) |
|
|
5,143,620 |
|
|
|
199,100 |
|
General Growth Properties, Inc. (REIT) |
|
|
9,347,745 |
|
|
|
188,600 |
|
Health Care Property Investors, Inc. (REIT) |
|
|
5,171,412 |
|
|
|
132,100 |
|
Healthcare Realty Trust, Inc. (REIT) |
|
|
5,002,627 |
|
|
|
55,500 |
|
Home Properties, Inc. (REIT) |
|
|
2,776,110 |
|
|
|
58,300 |
|
Kimco Realty Corp. (REIT) |
|
|
2,164,679 |
|
|
|
144,700 |
|
Lexington Corporate Properties Trust (REIT) |
|
|
3,119,732 |
|
|
|
57,900 |
|
Liberty Property Trust (REIT) |
|
|
2,588,130 |
|
|
|
66,700 |
|
Prologis (REIT) |
|
|
3,349,674 |
|
|
|
85,300 |
|
Sun Communities, Inc. (REIT) |
|
|
2,776,515 |
|
|
|
110,800 |
|
United Dominion Realty Trust, Inc. (REIT) |
|
|
3,012,652 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate |
|
|
49,843,580 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Technology—0.9% |
|
|
|
|
|
|
42,500 |
|
Intl. Business Machines Corp. |
|
|
3,499,450 |
|
|
|
115,600 |
|
Pitney Bowes, Inc. |
|
|
4,837,860 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Technology |
|
|
8,337,310 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunications—5.0% |
|
|
|
|
|
|
63,500 |
1 |
Alltel Corp. |
|
|
4,087,495 |
|
|
|
1,752,800 |
1 |
AT&T, Inc. |
|
|
45,940,888 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Telecommunications |
|
|
50,028,383 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
954,768,419 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENTS—3.7% |
|
|
|
|
|
|
|
|
Money Market Fund—3.1% |
|
|
|
|
|
|
31,462,947 |
|
Fidelity Institutional Money Market Prime Portfolio |
|
|
31,462,947 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal |
|
|
|
|
|
|
|
|
Amount |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government and Agency Zero Coupon Bonds—0.6% |
|
|
|
|
|
|
$ 5,700,000 |
2 |
Federal Home Loan Bank Discount Notes, 4.71%, 5/01/06 |
|
|
5,700,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments (cost $37,162,947) |
|
|
37,162,947 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments before outstanding options written (cost $969,493,5823) |
|
|
991,931,366 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING PUT OPTIONS WRITTEN—0.0% |
|
|
|
|
|
|
(650 |
) |
Altria Group, Inc., strike price $65, expires 05/20/06 |
|
|
(9,750 |
) |
|
|
(400 |
) |
AT&T, Inc., strike price $25, expires 05/20/06 |
|
|
(2,000 |
) |
|
|
(500 |
) |
Eli Lilly & Co., strike price $53, expires 05/09/06 |
|
|
(36,500 |
) |
|
|
(700 |
) |
Pfizer, Inc., strike price $25, expires 05/20/06 |
|
|
(19,250 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Outstanding Put Options Written (premium received ($135,871)) |
|
|
(67,500 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(1.1)% |
|
|
|
|
|
|
(280 |
) |
3M Co., strike price $79, expires 06/09/06 |
|
|
(184,240 |
) |
|
|
(75 |
) |
3M Co., strike price $85, expires 07/22/06 |
|
|
(22,500 |
) |
|
|
(550 |
) |
Abbott Laboratories, strike price $43.62, expires 06/30/06 |
|
|
(51,150 |
) |
See Notes to Financial Statements.
16
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Enhanced Dividend AchieversTM Trust (BDJ) (continued)
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(250 |
) |
Allstate Corp., strike price $55.50, expires 06/30/06 |
|
$ |
(55,500 |
) |
|
|
(350 |
) |
Alltel Corp., strike price $65, expires 06/17/06 |
|
|
(52,500 |
) |
|
|
(172,500 |
) |
Altria Group, Inc., strike price $75, expires 05/19/06 |
|
|
(97,994 |
) |
|
|
(1,000 |
) |
Altria Group, Inc., strike price $75, expires 06/17/06 |
|
|
(150,000 |
) |
|
|
(62,500 |
) |
Altria Group, Inc., strike price $76, expires 06/16/06 |
|
|
(62,875 |
) |
|
|
(130,000 |
) |
AmSouth Bancorp, strike price $28.15, expires 05/26/06 |
|
|
(168,350 |
) |
|
|
(49,000 |
) |
AmSouth Bancorp, strike price $28.29, expires 05/19/06 |
|
|
(45,207 |
) |
|
|
(111,300 |
) |
AmSouth Bancorp, strike price $28.77, expires 06/16/06 |
|
|
(97,944 |
) |
|
|
(21,200 |
) |
Anheuser-Busch Cos., Inc., strike price $44.12, expires 06/16/06 |
|
|
(24,412 |
) |
|
|
(14,000 |
) |
Anheuser-Busch Cos., Inc., strike price $44.31, expires 07/21/06 |
|
|
(20,360 |
) |
|
|
(125 |
) |
Anheuser-Busch Cos., Inc., strike price $45, expires 06/17/06 |
|
|
(8,750 |
) |
|
|
(49,000 |
) |
Arthur J. Gallagher & Co., strike price $29.50, expires 05/19/06 |
|
|
(813 |
) |
|
|
(365,000 |
) |
AT&T, Inc., strike price $26, expires 06/16/06 |
|
|
(267,910 |
) |
|
|
(1,960 |
) |
AT&T, Inc., strike price $26.50, expires 07/07/06 |
|
|
(83,300 |
) |
|
|
(402,800 |
) |
AT&T, Inc., strike price $27, expires 05/26/06 |
|
|
(56,795 |
) |
|
|
(44,000 |
) |
Atmos Energy Corp., strike price $27, expires 06/16/06 |
|
|
(11,000 |
) |
|
|
(385 |
) |
BancorpSouth, Inc., strike price $24, expires 06/09/06 |
|
|
(71,995 |
) |
|
|
(317 |
) |
BancorpSouth, Inc., strike price $25, expires 05/20/06 |
|
|
(29,323 |
) |
|
|
(500 |
) |
BancorpSouth, Inc., strike price $25.50, expires 06/30/06 |
|
|
(43,500 |
) |
|
|
(400 |
) |
Bank of America Corp., strike price $45.50, expires 05/20/06 |
|
|
(204,000 |
) |
|
|
(1,750 |
) |
Bank of America Corp., strike price $47.50, expires 05/20/06 |
|
|
(446,250 |
) |
|
|
(1,100 |
) |
BB&T Corp., strike price $41.87, expires 06/09/06 |
|
|
(178,200 |
) |
|
|
(890 |
) |
BB&T Corp., strike price $42.50, expires 06/17/06 |
|
|
(106,800 |
) |
|
|
(225 |
) |
Black Hills Corp., strike price $35, expires 05/20/06 |
|
|
(37,688 |
) |
|
|
(17,000 |
) |
Chemical Financial Corp., strike price $32.99, expires 05/08/06 |
|
|
(3 |
) |
|
|
(500 |
) |
Chevron Corp., strike price $60, expires 05/20/06 |
|
|
(82,500 |
) |
|
|
(207,000 |
) |
Chevron Corp., strike price $62.25, expires 05/31/06 |
|
|
(185,265 |
) |
|
|
(1,723 |
) |
Chevron Corp., strike price $65, expires 06/17/06 |
|
|
(68,920 |
) |
|
|
(115,000 |
) |
Citigroup, Inc., strike price $47.50, expires 05/19/06 |
|
|
(309,879 |
) |
|
|
(1,500 |
) |
Citigroup, Inc., strike price $47.50, expires 05/20/06 |
|
|
(397,500 |
) |
|
|
(234,000 |
) |
Citigroup, Inc., strike price $48.05, expires 06/16/06 |
|
|
(617,198 |
) |
|
|
(200,000 |
) |
Coca-Cola Co. (The, strike price $41.50, expires 06/16/06) |
|
|
(182,660 |
) |
|
|
(1,000 |
) |
Coca-Cola Co. (The, strike price $42.50, expires 05/20/06) |
|
|
(25,000 |
) |
|
|
(183,300 |
) |
Coca-Cola Co. (The, strike price $43, expires 05/12/06) |
|
|
(14,114 |
) |
|
|
(1,000 |
) |
Coca-Cola Co. (The, strike price $43.75, expires 05/26/06) |
|
(7,000 |
) |
|
|
|
(8,500 |
) |
Colonial Properties Trust, strike price $47.65, expires 05/19/06 |
|
|
(11,767 |
) |
|
|
(10,000 |
) |
Colonial Properties Trust, strike price $48.80, expires 07/21/06 |
|
|
(16,544 |
) |
|
|
(12,200 |
) |
Colonial Properties Trust, strike price $60.11, expires 05/19/06 |
|
|
(3,150 |
) |
|
|
(180 |
) |
Comerica, Inc., strike price $60, expires 05/20/06 |
|
|
(1,800 |
) |
|
|
(500 |
) |
Comerica, Inc., strike price $60, expires 07/22/06 |
|
|
(55,000 |
) |
|
|
(22,500 |
) |
Commercial Net Lease Realty, strike price $21.60, expires 06/16/06 |
|
|
(8,280 |
) |
|
|
(27,000 |
) |
Commercial Net Lease Realty, strike price $22.87, expires 05/19/06 |
|
|
(243 |
) |
|
|
(20,500 |
) |
Commercial Net Lease Realty, strike price $23.07, expires 05/19/06 |
|
|
(88 |
) |
|
|
(2,300 |
) |
ConAgra Foods, Inc., strike price $21, expires 05/12/06 |
|
|
(402,500 |
) |
|
|
(212,000 |
) |
ConAgra Foods, Inc., strike price $21.76, expires 06/16/06 |
|
|
(274,131 |
) |
|
|
(500 |
) |
Consolidated Edison, Inc., strike price $42.50, expires 05/26/06 |
|
|
(37,500 |
) |
|
|
(460 |
) |
Consolidated Edison, Inc., strike price $45, expires 06/02/06 |
|
|
(4,140 |
) |
|
|
(28,000 |
) |
Duke Realty Corp., strike price $35.60, expires 06/16/06 |
|
|
(20,496 |
) |
|
|
(520 |
) |
Duke Realty Corp., strike price $37.75, expires 05/12/06 |
|
|
(2,600 |
) |
|
|
(155,000 |
) |
Eli Lilly & Co., strike price $55, expires 06/16/06 |
|
|
(70,370 |
) |
|
|
(150 |
) |
Eli Lilly & Co., strike price $55, expires 07/22/06 |
|
|
(12,750 |
) |
|
|
(125,500 |
) |
Eli Lilly & Co., strike price $59, expires 05/19/06 |
|
|
(125 |
) |
|
|
(145,000 |
) |
Eli Lilly & Co., strike price $59, expires 06/16/06 |
|
|
(6,235 |
) |
|
|
(180 |
) |
Exxon Mobil Corp., strike price $62.50, expires 05/20/06 |
|
|
(23,400 |
) |
|
|
(35,000 |
) |
Exxon Mobil Corp., strike price $62.50, expires 06/16/06 |
|
|
(67,845 |
) |
|
|
(300 |
) |
Exxon Mobil Corp., strike price $62.50, expires 07/22/06 |
|
|
(78,000 |
) |
|
|
(150 |
) |
Fifth Third Bancorp, strike price $40, expires 06/17/06 |
|
|
(22,875 |
) |
|
|
(1,410 |
) |
Fifth Third Bancorp, strike price $40.88, expires 05/12/06 |
|
|
(52,170 |
) |
|
|
(190,000 |
) |
Fifth Third Bancorp, strike price $41, expires 06/16/06 |
|
|
(180,310 |
) |
|
|
(450 |
)4 |
FirstMerit Corp., strike price $25, expires 05/20/06 |
|
|
(15,750 |
) |
|
|
(55,000 |
) |
FirstMerit Corp., strike price $25.18, expires 05/19/06 |
|
|
(10,522 |
) |
|
|
(8,000 |
) |
Freddie Mac, strike price $62, expires 05/19/06 |
|
|
(6,218 |
) |
|
|
(15,000 |
) |
Freddie Mac, strike price $62, expires 06/16/06 |
|
|
(11,550 |
) |
|
|
(1,000 |
)4 |
Fulton Financial Corp., strike price $16.625, expires 05/20/06 |
|
|
(25,000 |
) |
See Notes to Financial Statements.
17
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Enhanced Dividend AchieversTM Trust (BDJ) (continued)
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(80,000 |
) |
General Electric Co., strike price $34, expires 05/19/06 |
|
$ |
(71,662 |
) |
|
|
(450 |
) |
General Electric Co., strike price $35, expires 05/20/06 |
|
|
(11,250 |
) |
|
|
(3,750 |
) |
General Electric Co., strike price $35, expires 06/17/06 |
|
|
(206,250 |
) |
|
|
(200,000 |
) |
General Electric Co., strike price $35, expires 07/21/06 |
|
|
(148,600 |
) |
|
|
(40,300 |
) |
General Growth Properties, strike price $46.60, expires 05/19/06 |
|
|
(57,500 |
) |
|
|
(400 |
) |
General Growth Properties, strike price $50, expires 06/17/06 |
|
|
(24,000 |
) |
|
|
(300 |
) |
General Growth Properties, strike price $50, expires 07/22/06 |
|
|
(30,750 |
) |
|
|
(47,000 |
) |
Health Care Property Investors, Inc., strike price $27.33, expires 06/16/06 |
|
|
(14,288 |
) |
|
|
(382 |
) |
Health Care Property Investors, Inc., strike price $28, expires 05/12/06 |
|
|
(3,820 |
) |
|
|
(175 |
) |
Health Care Property Investors, Inc., strike price $30, expires 07/22/06 |
|
|
(2,625 |
) |
|
|
(21,200 |
) |
Healthcare Realty Trust, Inc., strike price $38.16, expires 05/19/06 |
|
|
(5,412 |
) |
|
|
(25,000 |
) |
Healthcare Realty Trust, Inc., strike price $38.65, expires 07/21/06 |
|
|
(20,125 |
) |
|
|
(27,000 |
) |
Healthcare Realty Trust, Inc., strike price $38.70, expires 06/16/06 |
|
|
(10,800 |
) |
|
|
(78 |
) |
Home Properties, Inc., strike price $50, expires 05/20/06 |
|
|
(7,800 |
) |
|
|
(23,000 |
) |
Home Properties, Inc., strike price $50.64, expires 07/21/06 |
|
|
(33,373 |
) |
|
|
(11,000 |
) |
Intl. Business Machines Corp., strike price $84.42, expires 06/16/06 |
|
|
(9,081 |
) |
|
|
(110 |
) |
Intl. Business Machines Corp., strike price $85, expires 07/22/06 |
|
|
(13,750 |
) |
|
|
(55,000 |
) |
Johnson & Johnson, strike price $62.87, expires 05/26/06 |
|
|
(2,689 |
) |
|
|
(15,000 |
) |
KeyCorp, strike price $36.53, expires 06/16/06 |
|
|
(28,395 |
) |
|
|
(580 |
) |
KeyCorp, strike price $37.50, expires 05/20/06 |
|
|
(34,800 |
) |
|
|
(340 |
) |
KeyCorp, strike price $37.50, expires 06/17/06 |
|
|
(35,700 |
) |
|
|
(220 |
) |
Kimberly-Clark Corp., strike price $60, expires 06/17/06 |
|
|
(12,100 |
) |
|
|
(9,000 |
) |
Kimco Realty Corp., strike price $37.25, expires 07/21/06 |
|
|
(12,148 |
) |
|
|
(235 |
) |
Kimco Realty Corp., strike price $40, expires 05/20/06 |
|
|
(3,525 |
) |
|
|
(270 |
) |
La-Z-Boy, Inc., strike price $16, expires 06/09/06 |
|
|
(10,530 |
) |
|
|
(305 |
) |
La-Z-Boy, Inc., strike price $16, expires 06/23/06 |
|
|
(13,725 |
) |
|
|
(305 |
) |
La-Z-Boy, Inc., strike price $17, expires 05/12/06 |
|
|
(610 |
) |
|
|
(40,000 |
) |
Lexington Corporate Properties Trust, strike price $22, expires 06/16/06 |
|
|
(20,120 |
) |
|
|
(11,000 |
) |
Liberty Property Trust, strike price $45, expires 06/16/06 |
|
|
(12,914 |
) |
|
|
(21,000 |
) |
Liberty Property Trust, strike price $47.59, expires 05/19/06 |
|
|
(1,660 |
) |
|
|
(30,000 |
) |
Lincoln National Corp., strike price $56.24, expires 05/19/06 |
|
|
(86,760 |
) |
|
|
(24,000 |
) |
Lincoln National Corp., strike price $57.50, expires 06/16/06 |
|
|
(55,392 |
) |
|
|
(457 |
) |
Lincoln National Corp., strike price $60, expires 06/17/06 |
|
|
(67,408 |
) |
|
|
(250 |
) |
McDonald’s Corp., strike price $35, expires 06/17/06 |
|
|
(22,500 |
) |
|
|
(270 |
) |
McDonald’s Corp., strike price $35.50, expires 05/12/06 |
|
|
(5,940 |
) |
|
|
(129 |
) |
McDonald’s Corp., strike price $37.50, expires 06/17/06 |
|
|
(2,258 |
) |
|
|
(613 |
) |
Merck & Co., Inc, strike price $37.50, expires 05/20/06 |
|
|
(3,065 |
) |
|
|
(190,000 |
) |
Merck & Co., Inc, strike price $37.50, expires 06/16/06 |
|
|
(15,960 |
) |
|
|
(22,000 |
) |
Merck & Co., Inc., strike price $34, expires 05/31/06 |
|
|
(23,298 |
) |
|
|
(665 |
) |
Merck & Co., Inc., strike price $35, expires 05/20/06 |
|
|
(23,275 |
) |
|
|
(700 |
) |
Merck & Co., Inc., strike price $35, expires 06/17/06 |
|
|
(45,500 |
) |
|
|
(540 |
) |
Merck & Co., Inc., strike price $36.50, expires 06/09/06 |
|
|
(15,120 |
) |
|
|
(360 |
) |
Merck & Co., Inc., strike price $37.50, expires 07/22/06 |
|
|
(9,000 |
) |
|
|
(98,000 |
) |
National City Corp., strike price $35.72, expires 06/16/06 |
|
|
(173,656 |
) |
|
|
(800 |
) |
National City Corp., strike price $35.75, expires 05/12/06 |
|
|
(106,400 |
) |
|
|
(375 |
) |
National City Corp., strike price $36, expires 05/26/06 |
|
|
(49,500 |
) |
|
|
(400 |
) |
National City Corp., strike price $36.50, expires 05/12/06 |
|
|
(31,600 |
) |
|
|
(163 |
) |
National City Corp., strike price $37.50, expires 05/20/06 |
|
|
(4,075 |
) |
|
|
(17,500 |
) |
National Fuel Gas Co., strike price $32.83, expires 05/19/06 |
|
|
(16,732 |
) |
|
|
(275 |
) |
National Fuel Gas Co., strike price $33.50, expires 06/09/06 |
|
|
(18,700 |
) |
|
|
(63,000 |
) |
Nicor, Inc., strike price $42, expires 05/19/06 |
|
|
(8,064 |
) |
|
|
(73,000 |
) |
Old Republic Intl. Group, strike price $22.50, expires 05/19/06 |
|
|
(22,338 |
) |
|
|
(16,000 |
) |
Otter Tail Corp., strike price $29.50, expires 05/19/06 |
|
|
(10,109 |
) |
|
|
(10 |
) |
Otter Tail Corp., strike price $30, expires 05/20/06 |
|
|
(500 |
) |
|
|
(150 |
) |
Otter Tail Corp., strike price $30, expires 07/22/06 |
|
|
(16,500 |
) |
|
|
(17,500 |
) |
Otter Tail Corp., strike price $30.03, expires 06/16/06 |
|
|
(15,103 |
) |
|
|
(80,000 |
) |
Peoples Energy Corp., strike price $35.81, expires 06/16/06 |
|
|
(125,920 |
) |
|
|
(250,000 |
) |
Pfizer, Inc., strike price $25.50, expires 06/30/06 |
|
|
(141,000 |
) |
|
|
(135,000 |
) |
Pfizer, Inc., strike price $25.60, expires 06/16/06 |
|
|
(53,865 |
) |
|
|
(1,200 |
) |
Pfizer, Inc., strike price $25.62, expires 07/07/06 |
|
|
(60,000 |
) |
|
|
(600 |
) |
Pfizer, Inc., strike price $26, expires 05/26/06 |
|
|
(15,000 |
) |
|
|
(50,000 |
) |
Pfizer, Inc., strike price $26, expires 06/16/06 |
|
|
(12,700 |
) |
|
|
(63,600 |
) |
Pfizer, Inc., strike price $26.25, expires 05/19/06 |
|
|
(2,022 |
) |
|
|
(295,300 |
) |
Pfizer, Inc., strike price $26.68, expires 05/26/06 |
|
|
(6,792 |
) |
See Notes to Financial Statements.
18
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Enhanced Dividend AchieversTM Trust (BDJ) (continued)
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(470 |
) |
Pinnacle West Capital Corp., strike price $40, expires 05/20/06 |
|
$ |
(25,850 |
) |
|
|
(17,500 |
) |
Pitney Bowes, Inc., strike price $43.10, expires 05/19/06 |
|
|
(2,253 |
) |
|
|
(21,000 |
) |
Pitney Bowes, Inc., strike price $43.10, expires 06/16/06 |
|
|
(8,882 |
) |
|
|
(250 |
) |
Pitney Bowes, Inc., strike price $43.25, expires 06/02/06 |
|
|
(4,000 |
) |
|
|
(185 |
) |
PPG Industries, Inc., strike price $65, expires 05/20/06 |
|
|
(47,175 |
) |
|
|
(32,000 |
) |
PPG Industries, Inc., strike price $67.50, expires 07/21/06 |
|
|
(59,648 |
) |
|
|
(770 |
) |
Progress Energy, Inc., strike price $44.25, expires 05/12/06 |
|
|
(3,080 |
) |
|
|
(830 |
) |
Progress Energy, Inc., strike price $44.25, expires 06/30/06 |
|
|
(39,840 |
) |
|
|
(54,500 |
) |
Progress Energy, Inc., strike price $45.25, expires 05/19/06 |
|
|
(2,125 |
) |
|
|
(365 |
) |
Prologis, strike price $55, expires 05/20/06 |
|
|
(7,300 |
) |
|
|
(682 |
) |
Regions Financial Corp., strike price $35, expires 05/20/06 |
|
|
(83,545 |
) |
|
|
(1,500 |
) |
Regions Financial Corp., strike price $37, expires 05/12/06 |
|
|
(28,500 |
) |
|
|
(40,000 |
) |
Republic Bancorp, Inc., strike price $12, expires 06/16/06 |
|
|
(4,000 |
) |
|
|
(68,000 |
) |
RPM Intl., Inc., strike price $17.89, expires 06/16/06 |
|
|
(61,268 |
) |
|
|
(332 |
) |
RPM Intl., Inc., strike price $18.37, expires 05/12/06 |
|
|
(9,628 |
) |
|
|
(60,000 |
) |
RPM Intl., Inc., strike price $19.50, expires 05/26/06 |
|
|
(720 |
) |
|
|
(525 |
) |
RR Donnelley & Sons Co., strike price $33.50, expires 05/12/06 |
|
|
(23,100 |
) |
|
|
(192 |
) |
RR Donnelley & Sons Co., strike price $35, expires 06/17/06 |
|
|
(4,800 |
) |
|
|
(23,000 |
) |
S&T Bancorp, Inc., strike price $38, expires 05/19/06 |
|
|
(3,059 |
) |
|
|
(10,000 |
) |
S&T Bancorp, Inc., strike price $38.30, expires 05/19/06 |
|
|
(930 |
) |
|
|
(100,000 |
) |
Sara Lee Corp., strike price $18.50, expires 05/31/06 |
|
|
(12,580 |
) |
|
|
(90,000 |
) |
ServiceMaster Co. (The), strike price $12.73, expires 05/19/06 |
|
(2,250 |
) |
|
|
|
(16,000 |
) |
ServiceMaster Co. (The), strike price $13, expires 05/19/06 |
|
|
(255 |
) |
|
|
(48,000 |
) |
ServiceMaster Co. (The), strike price $13, expires 06/16/06 |
|
(3,888 |
) |
|
|
|
(265 |
) |
Stanley Works (The), strike price $52.50, expires 05/20/06 |
|
(25,838 |
) |
|
|
|
(205 |
) |
Stanley Works (The), strike price $55, expires 07/22/06 |
|
|
(18,963 |
) |
|
|
(33,000 |
) |
Sun Communities, Inc., strike price $33.98, expires 06/16/06 |
|
|
(7,051 |
) |
|
|
(14,000 |
) |
Sun Communities, Inc., strike price $34.80, expires 05/19/06 |
|
|
(532 |
) |
|
|
(800 |
) |
SunTrust Bank, Inc., strike price $75, expires 05/20/06 |
|
|
(208,000 |
) |
|
|
(450 |
) |
SunTrust Bank, Inc., strike price $80, expires 07/22/06 |
|
|
(63,000 |
) |
|
|
(26,000 |
) |
Synovus Financial Corp., strike price $28.30, expires 06/30/06 |
|
|
(20,306 |
) |
|
|
(40,000 |
) |
Synovus Financial Corp., strike price $28.50, expires 06/16/06 |
|
|
(24,720 |
) |
|
|
(15,000 |
) |
T. Rowe Price Group, Inc., strike price $83.23, expires 06/16/06 |
|
|
(48,333 |
) |
|
|
(170 |
) |
T. Rowe Price Group, Inc., strike price $85, expires 07/22/06 |
|
|
(52,700 |
) |
|
|
(45,000 |
) |
TD Banknorth, Inc., strike price $29.50, expires 07/21/06 |
|
|
(46,946 |
) |
|
|
(34,000 |
) |
TD Banknorth, Inc., strike price $31, expires 05/19/06 |
|
|
(3,597 |
) |
|
|
(19,500 |
) |
United Dominion Realty Trust, Inc., strike price $27.66, expires 05/19/06 |
|
|
(5,562 |
) |
|
|
(22,000 |
) |
United Dominion Realty Trust, Inc., strike price $28, expires 06/16/06 |
|
|
(9,262 |
) |
|
|
(19,000 |
) |
United Dominion Realty Trust, Inc., strike price $28.10, expires 07/21/06 |
|
|
(9,336 |
) |
|
|
(30,600 |
) |
Vectren Corp., strike price $28.10, expires 06/16/06 |
|
|
(1,576 |
) |
|
|
(775 |
) |
Washington Federal, Inc., strike price $24, expires 05/26/06 |
|
|
(24,800 |
) |
|
|
(490 |
) |
Washington Federal, Inc., strike price $25, expires 07/22/06 |
|
|
(18,375 |
) |
|
|
(1,000 |
) |
Washington Mutual, Inc., strike price $45, expires 05/20/06 |
|
|
(70,000 |
) |
|
|
(296,000 |
) |
Washington Mutual, Inc., strike price $45.05, expires 06/30/06 |
|
|
(414,104 |
) |
|
|
(190,000 |
) |
Washington Mutual, Inc., strike price $45.50, expires 06/16/06 |
|
|
(184,110 |
) |
|
|
(204,800 |
) |
Wells Fargo & Co., strike price $65.28, expires 05/19/06 |
|
|
(663,142 |
) |
|
|
(160,500 |
) |
Wells Fargo & Co., strike price $65.50, expires 06/16/06 |
|
|
(533,342 |
) |
|
|
(23,000 |
) |
WPS Resources Corp., strike price $51.22, expires 06/16/06 |
|
|
(1,747 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Outstanding Call Options Written (premium received ($8,811,151)) |
|
|
(10,910,826 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total outstanding options written (premium received ($8,947,022) |
|
|
(10,978,326 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments net of outstanding options written—98.6% |
|
$ |
980,953,040 |
|
|
|
|
|
Other assets in excess of liabilities—1.4% |
|
|
13,727,858 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
$ |
994,680,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Security, or a portion thereof, pledged as collateral for outstanding options written. |
|
2 |
Rate shown is yield to maturity as of April 30, 2006. |
|
3 |
Cost for federal income tax purposes is $986,701,344. The net unrealized appreciation on a tax basis is $5,230,022, consisting of $21,325,237 gross unrealized appreciation and $16,095,215 gross unrealized depreciation. |
|
4 |
Security is fair valued. |
|
|
|
|
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
|
|
|
|
|
|
KEY TO ABBREVIATIONS |
|
|
|
REIT — Real Estate Investment Trust |
|
|
See Notes to Financial Statements.
19
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Energy and Resources Trust (BGR)
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
LONG-TERM INVESTMENTS—94.7% |
|
|
|
|
|
|
|
|
Common Stocks—94.7% |
|
|
|
|
|
|
|
|
Australia—1.1% |
|
|
|
|
|
|
234,300 |
|
BHP Billiton Ltd. (ADR) |
|
$ |
10,674,708 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bermuda—3.1% |
|
|
|
|
|
|
800,000 |
|
Aries Maritime Transport Ltd. |
|
|
10,600,000 |
|
|
|
236,200 |
1 |
Nabors Industries Ltd. |
|
|
8,817,346 |
|
|
|
606,000 |
|
Ship Finance Intl. Ltd. |
|
|
10,320,180 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Bermuda |
|
|
29,737,526 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil—0.9% |
|
|
|
|
|
|
90,000 |
|
Petroleo Brasileiro SA (ADR) |
|
|
8,894,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canada—19.3% |
|
|
|
|
|
|
451,400 |
|
AltaGas Income Trust |
|
|
11,781,094 |
|
|
|
419,600 |
|
ARC Energy Trust |
|
|
10,132,999 |
|
|
|
459,200 |
|
Baytex Energy Trust |
|
|
8,633,231 |
|
|
|
216,000 |
|
Bonavista Energy Trust |
|
|
7,078,610 |
|
|
|
121,600 |
2 |
Canadian Natural Resources Ltd. |
|
|
7,320,320 |
|
|
|
309,800 |
1 |
Compton Petroleum Corp. |
|
|
4,211,762 |
|
|
|
1,125,000 |
3 |
Duke Energy Income Fund |
|
|
13,060,686 |
|
|
|
482,700 |
|
Fairborne Energy Ltd. |
|
|
6,704,826 |
|
|
|
215,417 |
1 |
Fairquest Energy Ltd. |
|
|
1,541,376 |
|
|
|
318,300 |
|
Focus Energy Trust |
|
|
7,046,129 |
|
|
|
207,300 |
|
Fording Canadian Coal Trust |
|
|
7,618,275 |
|
|
|
133,700 |
|
Husky Energy, Inc. |
|
|
7,868,575 |
|
|
|
667,100 |
|
Keyera Facilities Income Fund |
|
|
12,708,940 |
|
|
|
265,500 |
|
Pembina Pipeline Income Fund |
|
|
4,001,319 |
|
|
|
290,500 |
|
Penn West Energy Trust |
|
|
11,242,731 |
|
|
|
51,400 |
|
Potash Corp. of Saskatchewan |
|
|
4,866,552 |
|
|
|
204,200 |
|
Precision Drilling Corp. |
|
|
7,257,268 |
|
|
|
111,054 |
|
PrimeWest Energy Trust |
|
|
3,220,566 |
|
|
|
568,700 |
|
Progress Energy Trust |
|
|
8,850,570 |
|
|
|
199,800 |
1 |
Savanna Energy Services Corp. |
|
|
5,504,083 |
|
|
|
163,900 |
|
Talisman Energy, Inc. |
|
|
9,257,072 |
|
|
|
120,600 |
1 |
Trican Well Service Ltd. |
|
|
5,845,279 |
|
|
|
399,900 |
|
Vermilion Energy Trust |
|
|
11,814,049 |
|
|
|
174,200 |
|
Zargon Energy Trust |
|
|
5,233,557 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Canada |
|
|
182,799,869 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cayman Islands—0.6% |
|
|
|
|
|
|
87,100 |
|
GlobalSantaFe Corp. |
|
|
5,331,391 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denmark—0.5% |
|
|
|
|
|
|
600 |
|
AP Moller - Maersk A/S |
|
|
5,154,439 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
France—0.8% |
|
|
|
|
|
|
47,892 |
|
Technip SA |
|
|
3,024,065 |
|
|
|
33,700 |
|
Total SA (ADR) |
|
|
4,651,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total France |
|
|
7,675,339 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Italy—0.9% |
|
|
|
|
|
|
358,000 |
|
Saipem SpA |
|
|
8,951,807 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Luxembourg—1.5% |
|
|
|
|
|
|
82,400 |
|
Stolt Offshore SA |
|
|
1,343,217 |
|
|
|
274,345 |
|
Tenaris SA (ADR) |
|
|
12,592,435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Luxembourg |
|
|
13,935,652 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Netherlands—1.2% |
|
|
|
|
|
|
75,911 |
1 |
Core Laboratories NV |
|
|
4,649,548 |
|
|
|
58,900 |
|
SBM Offshore NV |
|
|
6,319,950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Netherlands |
|
|
10,969,498 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Norway—2.3% |
|
|
|
|
|
|
33,600 |
|
Norsk Hydro ASA |
|
|
5,171,998 |
|
|
|
142,300 |
|
Statoil ASA |
|
|
4,685,476 |
|
|
|
353,400 |
|
Statoil ASA (ADR) |
|
|
11,584,452 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Norway |
|
|
21,441,926 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
20
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Energy and Resources Trust (BGR) (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
United Kingdom—1.7% |
|
|
|
|
|
|
145,000 |
1 |
Acergy SA (ADR) |
|
$ |
2,356,250 |
|
|
|
730,273 |
|
BG Group PLC |
|
|
9,814,566 |
|
|
|
46,279 |
2 |
BP PLC (ADR) |
|
|
3,411,688 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United Kingdom |
|
|
15,582,504 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States—60.8% |
|
|
|
|
|
|
43,900 |
|
Amerada Hess Corp. |
|
|
6,289,553 |
|
|
|
65,598 |
|
Anadarko Petroleum Corp. |
|
|
6,875,982 |
|
|
|
238,600 |
2 |
Arch Coal, Inc. |
|
|
22,664,614 |
|
|
|
217,900 |
2 |
Atmos Energy Corp. |
|
|
5,783,066 |
|
|
|
321,900 |
|
Chesapeake Energy Corp. |
|
|
10,197,792 |
|
|
|
66,000 |
1,3 |
CNX Gas Corp. |
|
|
1,881,000 |
|
|
|
144,600 |
|
ConocoPhillips |
|
|
9,673,740 |
|
|
|
309,600 |
|
Consol Energy, Inc. |
|
|
26,365,536 |
|
|
|
99,700 |
2 |
Diamond Offshore Drilling, Inc. |
|
|
9,049,769 |
|
|
|
90,300 |
|
Dominion Resources, Inc. |
|
|
6,760,761 |
|
|
|
725,000 |
|
Double Hull Tankers, Inc. |
|
|
9,280,000 |
|
|
|
368,900 |
|
El Paso Corp. |
|
|
4,762,499 |
|
|
|
176,900 |
|
EnCana Corp. |
|
|
8,853,845 |
|
|
|
712,700 |
|
Energy Transfer Partners LP |
|
|
28,622,032 |
|
|
|
148,500 |
|
Enerplus Resources Fund |
|
|
7,957,278 |
|
|
|
114,800 |
|
ENSCO Intl., Inc. |
|
|
6,140,652 |
|
|
|
756,905 |
|
Enterprise Products Partners LP |
|
|
18,725,830 |
|
|
|
316,800 |
|
EOG Resources, Inc. |
|
|
22,248,864 |
|
|
|
72,400 |
2 |
Exxon Mobil Corp. |
|
|
4,566,992 |
|
|
|
92,000 |
1 |
FMC Technologies, Inc. |
|
|
5,021,360 |
|
|
|
190,500 |
1 |
Forest Oil Corp. |
|
|
6,966,585 |
|
|
|
167,000 |
1 |
Grant Prideco, Inc. |
|
|
8,550,400 |
|
|
|
181,900 |
1 |
Hercules Offshore, Inc. |
|
|
7,437,891 |
|
|
|
88,400 |
|
Kerr-McGee Corp. |
|
|
8,827,624 |
|
|
|
567,952 |
1 |
Kinder Morgan Management LLC |
|
|
24,302,686 |
|
|
|
841,400 |
2 |
Magellan Midstream Partners LP |
|
|
28,573,944 |
|
|
|
401,800 |
|
Massey Energy Co. |
|
|
15,529,570 |
|
|
|
128,500 |
1 |
McDermott Intl., Inc. |
|
|
7,812,800 |
|
|
|
165,058 |
1 |
National-Oilwell Varco, Inc. |
|
|
11,384,050 |
|
|
|
383,685 |
|
Natural Resource Partners LP |
|
|
21,524,729 |
|
|
|
227,300 |
1 |
Newfield Exploration Co. |
|
|
10,137,580 |
|
|
|
25,000 |
|
Newmont Mining Corp. |
|
|
1,459,000 |
|
|
|
90,800 |
|
Noble Corp. |
|
|
7,167,752 |
|
|
|
204,300 |
|
Noble Energy, Inc. |
|
|
9,189,414 |
|
|
|
214,400 |
|
Northern Border Partners LP |
|
|
10,492,736 |
|
|
|
466,600 |
|
Peabody Energy Corp. |
|
|
29,797,076 |
|
|
|
728,000 |
|
Penn Virginia Resource Partners LP |
|
|
22,815,520 |
|
|
|
605,000 |
|
Plains All American Pipeline LP |
|
|
26,408,250 |
|
|
|
137,700 |
1 |
Plains Exploration & Production |
|
|
5,076,999 |
|
|
|
87,000 |
|
Questar Corp. |
|
|
6,964,350 |
|
|
|
61,600 |
|
Schlumberger Ltd. |
|
|
4,259,024 |
|
|
|
101,300 |
|
Suncor Energy, Inc. |
|
|
8,685,462 |
|
|
|
436,800 |
|
TEPPCO Partners LP |
|
|
16,624,608 |
|
|
|
232,900 |
1 |
Transocean, Inc. |
|
|
18,881,203 |
|
|
|
376,400 |
|
Valero LP |
|
|
20,009,424 |
|
|
|
265,424 |
1 |
Weatherford Intl. Ltd. |
|
|
14,048,892 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United States |
|
|
574,648,734 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks (cost $696,410,677) |
|
|
895,798,093 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENTS—6.6% |
|
|
|
|
|
|
|
|
Money Market Fund—3.0% |
|
|
|
|
|
|
28,230,227 |
|
Fidelity Institutional Money Market Prime Portfolio |
|
|
28,230,227 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
21
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Energy and Resources Trust (BGR) (continued)
|
|
|
|
|
|
|
|
|
|
Principal |
|
|
|
|
|
|
|
|
Amount |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
U.S. Government and Agency Zero Coupon Bond—3.6% |
|
|
|
|
|
$ |
33,800,000 |
4 |
Federal Home Loan Bank Discount Notes, 4.71%, 5/01/06 |
|
$ |
33,800,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments (cost $62,032,894) |
|
|
62,030,227 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING OPTIONS PURCHASED—0.1% |
|
|
|
|
|
|
100 |
|
Suncor Energy, Inc., strike price $75, expires 05/20/06 |
|
|
111,500 |
|
|
|
500 |
|
Tenaris SA (ADR), strike price $36, expires 06/17/06 |
|
|
565,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Outstanding Options Purchased (cost $239,500) |
|
|
676,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments before outstanding options written (cost $758,680,0715) |
|
|
958,504,820 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING OPTIONS WRITTEN—(1.3)% |
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(1.3)% |
|
|
|
|
|
|
(250 |
) |
Acergy SA (ADR), strike price $17.50, expires 08/19/06 |
|
|
(28,750 |
) |
|
|
(125 |
) |
Acergy SA (ADR), strike price $12.50, expires 05/20/06 |
|
|
(50,125 |
) |
|
|
(250 |
) |
Acergy SA (ADR), strike price $15, expires 05/20/06 |
|
|
(35,625 |
) |
|
|
(250 |
) |
Acergy SA (ADR), strike price $15, expires 08/19/06 |
|
|
(56,250 |
) |
|
|
(100 |
) |
Amerada Hess Corp., strike price $160, expires 05/20/06 |
|
|
(5,500 |
) |
|
|
(100 |
) |
Amerada Hess Corp., strike price $160, expires 06/17/06 |
|
|
(17,700 |
) |
|
|
(200 |
) |
Anadarko Petroleum Corp., strike price $110, expires 05/20/06 |
|
|
(29,000 |
) |
|
|
(100 |
) |
Anadarko Petroleum Corp., strike price $115, expires 05/20/06 |
|
|
(5,000 |
) |
|
|
(250 |
) |
Arch Coal, Inc., strike price $110, expires 06/17/06 |
|
|
(31,250 |
) |
|
|
(200 |
) |
Arch Coal, Inc., strike price $85, expires 05/20/06 |
|
|
(215,000 |
) |
|
|
(500 |
) |
Arch Coal, Inc., strike price $90, expires 07/22/06 |
|
|
(515,000 |
) |
|
|
(150 |
) |
BG Group PLC, strike price 650 GBP, expires 06/16/06 |
|
|
(271,481 |
) |
|
|
(150 |
) |
BG Group PLC, strike price 700 GBP, expires 06/16/06 |
|
|
(169,590 |
) |
|
|
(500 |
) |
BHP Billiton Ltd. (ADR), strike price $35, expires 05/20/06 |
|
|
(525,000 |
) |
|
|
(471 |
) |
BHP Billiton Ltd. (ADR), strike price $40, expires 05/20/06 |
|
|
(270,825 |
) |
|
|
(450 |
) |
BP PLC (ADR), strike price $75, expires 07/22/06 |
|
|
(102,150 |
) |
|
|
(200 |
) |
Canadian Natural Resources Ltd., strike price $60, expires 05/20/06 |
|
|
(51,000 |
) |
|
|
(200 |
) |
Canadian Natural Resources Ltd., strike price $65, expires 06/17/06 |
|
|
(35,000 |
) |
|
|
(500 |
) |
Chesapeake Energy Corp., strike price $32.50, expires 05/20/06 |
|
|
(40,000 |
) |
|
|
(250 |
) |
Chesapeake Energy Corp., strike price $35, expires 05/20/06 |
|
|
(5,000 |
) |
|
|
(250 |
) |
Chesapeake Energy Corp., strike price $35, expires 06/17/06 |
|
|
(15,000 |
) |
|
|
(100 |
) |
ConocoPhillips, strike price $65, expires 05/20/06 |
|
|
(29,500 |
) |
|
|
(150 |
) |
ConocoPhillips, strike price $70, expires 05/20/06 |
|
|
(12,000 |
) |
|
|
(300 |
) |
Consol Energy, Inc., strike price $75, expires 05/20/06 |
|
|
(315,000 |
) |
|
|
(300 |
) |
Consol Energy, Inc., strike price $75, expires 07/22/06 |
|
|
(372,000 |
) |
|
|
(300 |
) |
Consol Energy, Inc., strike price $80, expires 05/20/06 |
|
|
(177,000 |
) |
|
|
(300 |
) |
Consol Energy, Inc., strike price $95, expires 06/17/06 |
|
|
(33,750 |
) |
|
|
(15,000 |
) |
Core Laboratories NV, strike price $55, expires 05/19/06 |
|
|
(100,305 |
) |
|
|
(200 |
) |
Diamond Offshore Drilling, Inc., strike price $90, expires 05/20/06 |
|
|
(72,000 |
) |
|
|
(100 |
) |
Diamond Offshore Drilling, Inc., strike price $95, expires 06/17/06 |
|
|
(41,000 |
) |
|
|
(100 |
) |
Dominion Resources, Inc., strike price $75, expires 05/20/06 |
|
|
(10,500 |
) |
|
|
(450 |
) |
Dominion Resources, Inc., strike price $75, expires 07/22/06 |
|
|
(105,750 |
) |
|
|
(250 |
) |
Dominion Resources, Inc., strike price $77, expires 07/27/06 |
|
|
(38,750 |
) |
|
|
(100 |
) |
Encana Corp., strike price $50, expires 05/20/06 |
|
|
(20,000 |
) |
|
|
(200 |
) |
Encana Corp., strike price $55, expires 06/17/06 |
|
|
(16,000 |
) |
|
|
(200 |
) |
Encana Corp., strike price $55, expires 07/22/06 |
|
|
(33,000 |
) |
|
|
(200 |
) |
Ensco Intl., Inc., strike price $55, expires 05/20/06 |
|
|
(42,000 |
) |
|
|
(200 |
) |
Ensco Intl., Inc., strike price $55, expires 06/17/06 |
|
|
(54,000 |
) |
|
|
(100 |
) |
Ensco Intl., Inc., strike price $60, expires 06/17/06 |
|
|
(14,000 |
) |
|
|
(500 |
) |
EOG Resources, Inc., strike price $80, expires 05/20/06 |
|
|
(17,500 |
) |
|
|
(200 |
) |
EOG Resources, Inc., strike price $85, expires 07/22/06 |
|
|
(25,500 |
) |
|
|
(200 |
) |
Exxon Mobil Corp., strike price $62.50, expires 05/20/06 |
|
|
(26,000 |
) |
|
|
(100 |
) |
Exxon Mobil Corp., strike price $65, expires 06/17/06 |
|
|
(8,000 |
) |
|
|
(400 |
) |
Exxon Mobil Corp., strike price $65, expires 07/22/06 |
|
|
(60,000 |
) |
|
|
(250 |
) |
FMC Technologies, Inc., strike price $55, expires 05/20/06 |
|
|
(37,500 |
) |
|
|
(250 |
) |
Forest Oil Corp., strike price $40, expires 05/20/06 |
|
|
(5,000 |
) |
|
|
(250 |
) |
Forest Oil Corp., strike price $40, expires 06/17/06 |
|
|
(17,500 |
) |
|
|
(250 |
) |
GlobalSantaFe Corp., strike price $65, expires 05/20/06 |
|
|
(27,500 |
) |
|
|
(250 |
) |
GlobalSantaFe Corp., strike price $65, expires 07/22/06 |
|
|
(65,000 |
) |
|
|
(300 |
) |
Grant Prideco, Inc., strike price $45, expires 05/20/06 |
|
|
(193,500 |
) |
See Notes to Financial Statements.
22
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Energy and Resources Trust (BGR) (continued)
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(200 |
) |
Grant Prideco, Inc., strike price $55, expires 07/22/06 |
|
$ |
(50,000 |
) |
|
|
(250 |
) |
Husky Energy, Inc., strike price 74 CAD, expires 07/22/06 |
|
|
(24,596 |
) |
|
|
(200 |
) |
IHC Caland NV, strike price 90 EUR, expires 05/19/06 |
|
|
(12,616 |
) |
|
|
(100 |
) |
Kerr-Mcgee Corp., strike price $105, expires 05/20/06 |
|
|
(23,500 |
) |
|
|
(100 |
) |
Kerr-Mcgee Corp., strike price $110, expires 05/20/06 |
|
|
(8,500 |
) |
|
|
(400 |
) |
Massey Energy Co., strike price $40, expires 05/20/06 |
|
|
(28,000 |
) |
|
|
(250 |
) |
McDermott Intl., Inc., strike price $55, expires 05/20/06 |
|
|
(175,000 |
) |
|
|
(250 |
) |
McDermott Intl., Inc., strike price $60, expires 05/20/06 |
|
|
(56,250 |
) |
|
|
(400 |
) |
Nabors Industries Ltd., strike price $75, expires 05/20/06 |
|
|
(56,000 |
) |
|
|
(400 |
) |
Nabors Industries Ltd., strike price $80, expires 05/20/06 |
|
|
(20,000 |
) |
|
|
(200 |
) |
National-Oilwell Varco, Inc., strike price $70, expires 05/20/06 |
|
|
(43,000 |
) |
|
|
(200 |
) |
National-Oilwell Varco, Inc., strike price $75, expires 05/20/06 |
|
|
(14,000 |
) |
|
|
(200 |
) |
National-Oilwell Varco, Inc., strike price $80, expires 06/17/06 |
|
|
(16,000 |
) |
|
|
(200 |
) |
Newfield Exploration Co., strike price $45, expires 05/20/06 |
|
|
(30,000 |
) |
|
|
(300 |
) |
Newfield Exploration Co., strike price $45, expires 06/17/06 |
|
|
(74,250 |
) |
|
|
(300 |
) |
Newfield Exploration Co., strike price $50, expires 06/17/06 |
|
|
(31,500 |
) |
|
|
(250 |
) |
Newmont Mining Corp., strike price $55, expires 05/20/06 |
|
|
(107,500 |
) |
|
|
(150 |
) |
Noble Corp., strike price $80, expires 05/20/06 |
|
|
(43,500 |
) |
|
|
(150 |
) |
Noble Corp., strike price $85, expires 06/17/06 |
|
|
(33,750 |
) |
|
|
(300 |
) |
Noble Energy, Inc., strike price $45, expires 05/20/06 |
|
|
(45,000 |
) |
|
|
(250 |
) |
Noble Energy, Inc., strike price $50, expires 05/20/06 |
|
|
(3,750 |
) |
|
|
(6,500 |
) |
Norsk Hydro ASA, strike price 903.20 NOK, expires 05/31/06 |
|
|
(50,389 |
) |
|
|
(500 |
) |
Peabody Energy Corp., strike price $45, expires 06/17/06 |
|
|
(960,000 |
) |
|
|
(1,820 |
) |
Peabody Energy Corp., strike price $50, expires 05/20/06 |
|
|
(2,529,800 |
) |
|
|
(400 |
) |
Penn West Energy Trust, strike price 44 CAD, expires 05/20/06 |
|
|
(21,466 |
) |
|
|
(162 |
) |
Petroleo Brasileiro SA (ADR), strike price $90, expires 07/22/06 |
|
|
(174,960 |
) |
|
|
(150 |
) |
Petroleo Brasileiro SA (ADR), strike price $95, expires 05/20/06 |
|
|
(85,500 |
) |
|
|
(250 |
) |
Plains Exploration & Production, strike price $40, expires 05/20/06 |
|
|
(6,875 |
) |
|
|
(100 |
) |
Potash Corp. of Saskatchewan, strike price $100, expires 06/17/06 |
|
|
(29,500 |
) |
|
|
(100 |
) |
Potash Corp. of Saskatchewan, strike price $95, expires 05/20/06 |
|
|
(34,000 |
) |
|
|
(250 |
) |
Precision Drilling Corp., strike price $35, expires 06/17/06 |
|
|
(41,250 |
) |
|
|
(250 |
) |
Precision Drilling Corp., strike price $37, expires 06/23/06 |
|
|
(18,750 |
) |
|
|
(100 |
) |
Questar Corp., strike price $80, expires 06/17/06 |
|
|
(30,750 |
) |
|
|
(100 |
) |
Questar Corp., strike price $80, expires 07/22/06 |
|
|
(42,000 |
) |
|
|
(100 |
) |
Questar Corp., strike price $85, expires 06/17/06 |
|
|
(12,000 |
) |
|
|
(90,500 |
) |
Saipem SpA, strike price 20.20 EUR, expires 06/09/06 |
|
|
(58,072 |
) |
|
|
(50,000 |
) |
Savanna Energy Services Corp., strike price 32 CAD, expires 05/19/06 |
|
|
(39,757 |
) |
|
|
(175 |
) |
Schlumberger Ltd., strike price $67.50, expires 08/19/06 |
|
|
(115,500 |
) |
|
|
(142,300 |
) |
Statoil ASA, strike price 212.67 NOK, expires 06/28/06 |
|
|
(73,568 |
) |
|
|
(200 |
) |
Suncor Energy, Inc., strike price $80, expires 05/20/06 |
|
|
(144,000 |
) |
|
|
(350 |
) |
Suncor Energy, Inc., strike price $80, expires 06/17/06 |
|
|
(290,500 |
) |
|
|
(200 |
) |
Talisman Energy, Inc., strike price $60, expires 05/20/06 |
|
|
(15,000 |
) |
|
|
(100 |
) |
Talisman Energy, Inc., strike price $65, expires 06/17/06 |
|
|
(7,250 |
) |
|
|
(100 |
) |
Talisman Energy, Inc., strike price $65, expires 07/22/06 |
|
|
(15,250 |
) |
|
|
(200 |
) |
Technip SA, strike price 60 EUR, expires 06/16/06 |
|
|
(1,262 |
) |
|
|
(500 |
) |
Tenaris SA (ADR), strike price $40, expires 05/20/06 |
|
|
(325,000 |
) |
|
|
(1,000 |
) |
Tenaris SA (ADR), strike price $40, expires 06/17/06 |
|
|
(760,000 |
) |
|
|
(500 |
) |
Tenaris SA (ADR), strike price $44, expires 06/17/06 |
|
|
(260,000 |
) |
|
|
(200 |
) |
Total SA (ADR), strike price $140, expires 05/20/06 |
|
|
(31,500 |
) |
|
|
(100 |
) |
Total SA (ADR), strike price $145, expires 06/17/06 |
|
|
(12,000 |
) |
|
|
(500 |
) |
Transocean, Inc., strike price $90, expires 05/20/06 |
|
|
(37,500 |
) |
|
|
(200 |
) |
Transocean, Inc., strike price $90, expires 06/17/06 |
|
|
(41,200 |
) |
|
|
(250 |
) |
Trican Well Service Ltd., strike price 60 CAD, expires 06/17/06 |
|
|
(15,653 |
) |
|
|
(250 |
) |
Weatherford Intl. Ltd., strike price $45, expires 05/20/06 |
|
|
(200,000 |
) |
|
|
(45,000 |
) |
Weatherford Intl. Ltd., strike price $50, expires 06/16/06 |
|
|
(208,620 |
) |
|
|
(250 |
) |
Weatherford Intl. Ltd., strike price $55, expires 06/17/06 |
|
|
(46,250 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Outstanding Call Options Written (premium received ($7,668,308)) |
|
|
(12,075,635 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING PUT OPTIONS WRITTEN—0.0% |
|
|
|
|
|
|
(250 |
)3 |
Acergy SA (ADR), strike price $15, expires 05/20/06 |
|
|
(6,250 |
) |
|
|
(100 |
) |
Amerada Hess Corp., strike price $130, expires 05/20/06 |
|
|
(4,000 |
) |
|
|
(100 |
) |
Anadarko Petroleum Corp., strike price $100, expires 05/20/06 |
|
|
(10,500 |
) |
|
|
(250 |
) |
BHP Billiton Ltd. (ADR), strike price $40, expires 05/20/06 |
|
|
(3,750 |
) |
|
|
(300 |
) |
Canadian Natural Resources Ltd., strike price $55, expires 05/20/06 |
|
|
(15,750 |
) |
See Notes to Financial Statements.
23
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Energy and Resources Trust (BGR) (continued)
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
OUTSTANDING PUT OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(100 |
) |
Canadian Natural Resources Ltd., strike price $55, expires 06/17/06 |
|
$ |
(12,000 |
) |
|
|
(100 |
) |
Chesapeake Energy Corp., strike price $30, expires 05/20/06 |
|
|
(6,000 |
) |
|
|
(200 |
) |
ConocoPhillips, strike price $65, expires 05/20/06 |
|
|
(23,000 |
) |
|
|
(100 |
) |
Diamond Offshore Drilling, Inc., strike price $80, expires 06/17/06 |
|
|
(14,500 |
) |
|
|
(200 |
) |
Diamond Offshore Drilling, Inc., strike price $85, expires 05/20/06 |
|
|
(20,000 |
) |
|
|
(200 |
) |
Encana Corp., strike price $45, expires 05/20/06 |
|
|
(3,000 |
) |
|
|
(300 |
) |
Fording Canadian Coal Trust, strike price $35, expires 05/20/06 |
|
|
(18,000 |
) |
|
|
(150 |
) |
Forest Oil Corp., strike price $35, expires 05/20/06 |
|
|
(9,000 |
) |
|
|
(200 |
) |
Grant Prideco, Inc., strike price $45, expires 06/17/06 |
|
|
(15,000 |
) |
|
|
(100 |
) |
Husky Energy, Inc., strike price 64 CAD, expires 05/20/06 |
|
|
(11,627 |
) |
|
|
(200 |
) |
Husky Energy, Inc., strike price 68 CAD, expires 05/20/06 |
|
|
(57,243 |
) |
|
|
(100 |
) |
Kerr-Mcgee Corp., strike price $95, expires 05/20/06 |
|
|
(11,500 |
) |
|
|
(200 |
) |
Massey Energy Co., strike price $35, expires 05/20/06 |
|
|
(4,000 |
) |
|
|
(100 |
) |
McDermott Intl., Inc., strike price $55, expires 05/20/06 |
|
|
(2,750 |
) |
|
|
(400 |
) |
Nabors Industries Ltd., strike price $67.50, expires 05/20/06 |
|
|
(10,000 |
) |
|
|
(200 |
) |
National-Oilwell Varco, Inc., strike price $60, expires 05/20/06 |
|
|
(4,000 |
) |
|
|
(30 |
) |
Nexen, Inc., strike price 58 CAD, expires 05/20/06 |
|
|
(738 |
) |
|
|
(150 |
) |
Noble Corp., strike price $75, expires 05/20/06 |
|
|
(17,625 |
) |
|
|
(150 |
) |
Petroleo Brasileiro SA (ADR), strike price $85, expires 05/20/06 |
|
|
(3,375 |
) |
|
|
(250 |
) |
Plains Exploration & Production, strike price $35, expires 05/20/06 |
|
|
(11,250 |
) |
|
|
(100 |
) |
Potash Corp. of Saskatchewan, strike price $85, expires 05/20/06 |
|
|
(4,500 |
) |
|
|
(200 |
) |
Schlumberger Ltd., strike price $60, expires 05/20/06 |
|
|
(5,000 |
) |
|
|
(100 |
) |
Transocean Sedco Forex, Inc., strike price $75, expires 05/20/06 |
|
|
(8,000 |
) |
|
|
(200 |
) |
Weatherford Intl. Ltd., strike price $45, expires 05/20/06 |
|
|
(3,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Outstanding Put Options Written (premium received ($484,952)) |
|
|
(315,358 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total outstanding options written (premium received ($8,153,260)) |
|
|
(12,390,993 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments net of outstanding options written—100.0% |
|
$ |
946,113,827 |
|
|
|
|
|
Liabilities in excess of other assets—0.0% |
|
|
(459,234 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
$ |
945,654,593 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Non-income producing security. |
|
2 |
Security, or a portion thereof, pleged as collateral for outstanding options written. |
|
3 |
Security is fair valued. |
|
4 |
Rate shown is yield to maturity as of April 30, 2006. |
|
5 |
Cost for federal income tax purposes is $763,975,069. The net unrealized appreciation on a tax basis is $194,529,751, consisting of $204,247,419 gross unrealized appreciation and $9,717,668 gross unrealized depreciation. |
|
|
|
|
|
KEY TO ABBREVIATIONS |
|
|
|
ADR — American Depositary Receipts |
|
CAD — Canadian Dollar |
|
GBP — British Pound |
|
EUR — Euro |
|
NOK — Norwegian Kroner |
|
|
See Notes to Financial Statements.
24
PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Opportunities Equity Trust (BOE)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM INVESTMENTS—94.1% |
|
|
|
|
|
|
|
|
Common Stocks—94.1% |
|
|
|
|
|
|
|
|
Australia—2.7% |
|
|
|
|
|
|
604,300 |
|
Foster’s Group Ltd. |
|
$ |
2,699,612 |
|
|
|
115,000 |
|
Publishing & Broadcasting Ltd. |
|
|
1,622,487 |
|
|
|
89,700 |
|
QBE Insurance Group Ltd. |
|
|
1,525,190 |
|
|
|
137,532 |
|
St. George Bank Ltd. |
|
|
3,223,521 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Australia |
|
|
9,070,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil—1.8% |
|
|
|
|
|
|
200,250 |
|
Gerdau SA (ADR) |
|
|
3,464,325 |
|
|
|
26,900 |
|
Petroleo Brasileiro SA (ADR) |
|
|
2,658,527 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Brazil |
|
|
6,122,852 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canada—3.3% |
|
|
|
|
|
|
70,000 |
1 |
Barrick Gold Corp. |
|
|
2,133,600 |
|
|
|
21,000 |
|
Canadian Imperial Bank of Commerce |
|
|
1,554,269 |
|
|
|
120,000 |
|
CI Financial, Inc. |
|
|
3,448,504 |
|
|
|
45,100 |
|
Fording Canadian Coal Trust |
|
|
1,657,425 |
|
|
|
37,000 |
|
Teck Cominco Ltd., Class B |
|
|
2,550,834 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Canada |
|
|
11,344,632 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
China—1.0% |
|
|
|
|
|
|
31,600 |
|
PetroChina Co. Ltd. (ADR) |
|
|
3,551,840 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denmark—1.0% |
|
|
|
|
|
|
84,000 |
|
Danske Bank A/S |
|
|
3,341,760 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finland—2.0% |
|
|
|
|
|
|
96,000 |
|
Fortum Oyj |
|
|
2,424,707 |
|
|
|
98,400 |
|
Wartsila Oyj |
|
|
4,193,521 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Finland |
|
|
6,618,228 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
France—1.5% |
|
|
|
|
|
|
2,130 |
|
Areva SA |
|
|
1,612,333 |
|
|
|
21,900 |
|
Societe Generale |
|
|
3,345,895 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total France |
|
|
4,958,228 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Germany—6.9% |
|
|
|
|
|
|
50,300 |
|
Bilfinger Berger AG |
|
|
3,220,535 |
|
|
|
24,600 |
|
Deutsche Bank AG |
|
|
3,008,584 |
|
|
|
21,800 |
|
E.On AG |
|
|
2,671,919 |
|
|
|
93,100 |
|
Hannover Rueckversicherung AG |
|
|
3,453,194 |
|
|
|
117,100 |
|
IVG Immobilien AG |
|
|
3,363,907 |
|
|
|
65,700 |
|
Man AG |
|
|
4,979,885 |
|
|
|
30,000 |
|
RWE AG |
|
|
2,600,550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Germany |
|
|
23,298,574 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Greece—1.9% |
|
|
|
|
|
|
55,000 |
|
Cosmote Mobile Telecommunications SA |
|
|
1,348,910 |
|
|
|
85,600 |
|
OPAP SA |
|
|
3,164,211 |
|
|
|
65,400 |
|
Piraeus Bank SA |
|
|
2,061,077 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Greece |
|
|
6,574,198 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hong Kong—5.5% |
|
|
|
|
|
|
555,500 |
|
ASM Pacific Technology |
|
|
3,234,858 |
|
|
|
358,000 |
|
Citic Pacific Ltd. |
|
|
1,288,251 |
|
|
|
750,000 |
|
Giordano Intl. Ltd. |
|
|
442,553 |
|
|
|
4,293,000 |
|
Guangdong Investment Ltd. |
|
|
1,799,524 |
|
|
|
1,089,000 |
|
Hang Lung Properties Ltd. |
|
|
2,191,119 |
|
|
|
480,000 |
|
Hong Kong Exchanges & Clearing Ltd. |
|
|
3,451,434 |
|
|
|
459,000 |
|
Kerry Properties Ltd. |
|
|
1,625,056 |
|
|
|
2,085,000 |
|
New World Development Co. Ltd. |
|
|
3,737,957 |
|
|
|
336,000 |
|
Yue Yuen Industrial Holdings |
|
|
985,903 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Hong Kong |
|
|
18,756,655 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ireland—1.6% |
|
|
|
|
|
|
210,700 |
|
Irish Life & Permanent PLC |
|
|
5,358,942 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
25
PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Opportunities Equity Trust (BOE) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
Italy—3.3% |
|
|
|
|
|
|
177,300 |
|
Acea SpA |
|
$ |
2,290,513 |
|
|
|
154,600 |
|
Credito Emiliano SpA |
|
|
2,153,290 |
|
|
|
144,100 |
|
ENI SpA |
|
|
4,399,501 |
|
|
|
324,900 |
|
Unicredito Italiano SpA |
|
|
2,447,079 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Italy |
|
|
11,290,383 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Japan—9.8% |
|
|
|
|
|
|
30,100 |
|
Aisin Seiki Co. Ltd. |
|
|
1,131,410 |
|
|
|
329,500 |
|
Bank of Yokohama Ltd. |
|
|
2,584,143 |
|
|
|
21,000 |
|
Daito Trust Construction Co. Ltd. |
|
|
1,091,819 |
|
|
|
151,900 |
|
Hitachi Construction Machinery Co. Ltd. |
|
|
4,148,852 |
|
|
|
98,000 |
|
Isetan Co. Ltd. |
|
|
2,009,661 |
|
|
|
173,000 |
|
Mitsui Trust Holdings, Inc. |
|
|
2,389,927 |
|
|
|
414 |
|
Mizuho Financial Group, Inc. |
|
|
3,530,444 |
|
|
|
600,000 |
|
Morinaga & Co. Ltd. |
|
|
1,654,591 |
|
|
|
222,500 |
|
NSK Ltd. |
|
|
2,012,690 |
|
|
|
250,000 |
|
Obayashi Corp. |
|
|
1,912,352 |
|
|
|
485 |
|
Resona Holdings, Inc. |
|
|
1,652,659 |
|
|
|
260,000 |
|
Shimizu Corp. |
|
|
1,799,324 |
|
|
|
58,000 |
|
Showa Shell Sekiyu KK |
|
|
719,238 |
|
|
|
208 |
|
Sumitomo Mitsui Financial Group, Inc. |
|
|
2,283,406 |
|
|
|
44,500 |
|
TonenGeneral Sekiyu KK |
|
|
483,436 |
|
|
|
31,800 |
|
Toyota Industries Corp. |
|
|
1,418,733 |
|
|
|
20,100 |
|
Toyota Motor Corp. (ADR) |
|
|
2,354,313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Japan |
|
|
33,176,998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico—1.3% |
|
|
|
|
|
|
840,900 |
|
Grupo Mexico SA de CV |
|
|
2,947,994 |
|
|
|
450,000 |
|
Kimberly-Clark de Mexico SA de CV |
|
|
1,587,757 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Mexico |
|
|
4,535,751 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Netherlands—3.9% |
|
|
|
|
|
|
101,150 |
|
ABN Amro Holding NV |
|
|
3,023,117 |
|
|
|
87,250 |
|
ING Groep NV |
|
|
3,551,026 |
|
|
|
109,700 |
|
Koninklijke Wessanen NV |
|
|
1,774,266 |
|
|
|
26,300 |
|
Rodamco Europe NV |
|
|
2,830,276 |
|
|
|
19,500 |
|
SBM Offshore NV |
|
|
2,092,343 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Netherlands |
|
|
13,271,028 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Zealand—0.6% |
|
|
|
|
|
|
520,000 |
|
Telecom Corp. of New Zealand Ltd. |
|
|
1,902,925 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Norway—4.0% |
|
|
|
|
|
|
247,000 |
|
DNB NOR ASA |
|
|
3,425,436 |
|
|
|
61,500 |
|
Orkla ASA |
|
|
3,237,000 |
|
|
|
120,900 |
|
Statoil ASA |
|
|
3,980,844 |
|
|
|
249,000 |
|
Storebrand ASA |
|
|
2,948,323 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Norway |
|
|
13,591,603 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Singapore—1.4% |
|
|
|
|
|
|
609,000 |
|
Singapore Exchange Ltd. |
|
|
1,656,461 |
|
|
|
310,500 |
|
United Overseas Bank Ltd. |
|
|
3,201,436 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Singapore |
|
|
4,857,897 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
South Africa—2.1% |
|
|
|
|
|
|
675,400 |
|
African Bank Investments Ltd. |
|
|
3,774,377 |
|
|
|
165,200 |
|
Foschini Ltd. |
|
|
1,673,294 |
|
|
|
370,800 |
|
Truworths Intl. Ltd. |
|
|
1,788,474 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total South Africa |
|
|
7,236,145 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
South Korea—3.3% |
|
|
|
|
|
|
44,600 |
|
Daelim Industrial Co. |
|
|
3,404,580 |
|
|
|
48,600 |
|
GS Engineering & Construction Corp. |
|
|
3,524,428 |
|
|
|
33,000 |
|
Hyundai Heavy Industries |
|
|
3,162,850 |
|
|
|
12,000 |
|
S-Oil Corp. |
|
|
928,753 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total South Korea |
|
|
11,020,611 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
26
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Opportunities Equity Trust (BOE) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
Spain—0.5% |
|
|
|
|
|
|
63,600 |
|
Gestevision Telecinco SA |
|
$ |
1,624,823 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sweden—5.5% |
|
|
|
|
|
|
142,600 |
|
Assa Abloy AB |
|
|
2,761,275 |
|
|
|
92,500 |
|
D. Carnegie AB |
|
|
2,055,108 |
|
|
|
129,423 |
|
Lindex AB |
|
|
1,916,961 |
|
|
|
245,300 |
|
Nordea Bank AB |
|
|
3,165,086 |
|
|
|
62,100 |
|
Oriflame Cosmetics SA (ADR) |
|
|
2,350,131 |
|
|
|
62,300 |
|
Sandvik AB |
|
|
4,055,075 |
|
|
|
139,700 |
|
Skanska AB |
|
|
2,420,371 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Sweden |
|
|
18,724,007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thailand—0.5% |
|
|
|
|
|
|
5,313,000 |
2 |
Krung Thai Bank PCL |
|
|
1,741,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United Kingdom—18.0% |
|
|
|
|
|
|
226,200 |
|
Arriva PLC |
|
|
2,390,366 |
|
|
|
225,400 |
|
BAA PLC |
|
|
3,483,470 |
|
|
|
635,300 |
|
Bodycote Intl. |
|
|
3,240,913 |
|
|
|
40,800 |
|
BP PLC (ADR) |
|
|
3,007,776 |
|
|
|
1,767,700 |
|
Brit Insurance Holdings PLC |
|
|
3,094,555 |
|
|
|
126,200 |
|
Dairy Crest Group PLC |
|
|
1,083,924 |
|
|
|
295,000 |
|
De La Rue PLC |
|
|
2,921,058 |
|
|
|
244,600 |
|
Diageo PLC |
|
|
4,036,672 |
|
|
|
289,900 |
|
Exam PLC |
|
|
2,881,132 |
|
|
|
510,100 |
|
Friends Provident PLC |
|
|
1,830,157 |
|
|
|
580,900 |
|
GKN PLC |
|
|
3,320,912 |
|
|
|
269,000 |
|
Hanson PLC |
|
|
3,593,174 |
|
|
|
117,900 |
|
IMI PLC |
|
|
1,209,358 |
|
|
|
207,000 |
|
Kelda Group PLC |
|
|
2,899,012 |
|
|
|
807,300 |
|
Legal & General Group PLC |
|
|
2,038,934 |
|
|
|
26,100 |
|
Rio Tinto PLC |
|
|
1,435,457 |
|
|
|
41,900 |
|
Royal Dutch Shell PLC (ADR) |
|
|
2,854,647 |
|
|
|
40,900 |
|
Sabmiller, Inc. |
|
|
862,929 |
|
|
|
144,428 |
|
Scottish & Southern Energy PLC |
|
|
2,962,936 |
|
|
|
163,400 |
|
Smiths Group PLC |
|
|
3,037,789 |
|
|
|
205,313 |
|
United Utilities PLC |
|
|
2,512,218 |
|
|
|
93,450 |
|
Viridian Group PLC |
|
|
1,638,502 |
|
|
|
114,200 |
|
Whitbread PLC |
|
|
2,332,397 |
|
|
|
99,897 |
|
Wolverhampton & Dudley Brew PLC |
|
|
2,368,177 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United Kingdom |
|
|
61,036,465 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States—10.7% |
|
|
|
|
|
|
212,289 |
|
Alaska Communications Systems Group, Inc. |
|
|
2,676,964 |
|
|
|
47,200 |
1 |
Alliance Bernstein Holdings LP |
|
|
3,042,040 |
|
|
|
20,400 |
1 |
Altria Group, Inc. |
|
|
1,492,464 |
|
|
|
17,700 |
1 |
Arch Coal, Inc. |
|
|
1,681,323 |
|
|
|
77,300 |
1 |
Archer-Daniels-Midland Co. |
|
|
2,809,082 |
|
|
|
38,700 |
|
Atmos Energy Corp. |
|
|
1,027,098 |
|
|
|
46,921 |
1 |
Caterpillar, Inc. |
|
|
3,553,797 |
|
|
|
75,000 |
1 |
Consolidated Edison, Inc. |
|
|
3,234,000 |
|
|
|
70,000 |
1 |
McDonald’s Corp. |
|
|
2,419,900 |
|
|
|
40,500 |
|
Newmont Mining Corp. |
|
|
2,363,580 |
|
|
|
64,800 |
|
Pepco Holdings, Inc. |
|
|
1,495,584 |
|
|
|
72,900 |
1 |
RR Donnelley & Sons Co. |
|
|
2,456,001 |
|
|
|
109,500 |
|
Strategic Hotels & Resorts, Inc. |
|
|
2,483,460 |
|
|
|
57,100 |
|
UST, Inc. |
|
|
2,508,403 |
|
|
|
166,805 |
1 |
Vector Group Ltd. |
|
|
3,002,490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United States |
|
|
36,246,186 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks (cost $289,042,775) |
|
|
319,252,812 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
27
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Opportunities Equity Trust (BOE) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MONEY MARKET FUND—3.9% |
|
|
|
|
|
|
13,037,380 |
|
Fidelity Institutional Money Market Prime Portfolio (cost $13,037,380) |
|
$ |
13,037,380 |
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments before outstanding options written (cost $302,080,1553) |
|
|
332,290,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING OPTIONS WRITTEN—(1.5)% |
|
|
|
|
|
|
|
|
OUTSTANDING PUT OPTIONS WRITTEN—0.0% |
|
|
|
|
|
|
(100,000) |
|
Sabmiller, Inc., strike price 10.83 GBP, expires 05/31/06 (premium received ($29,369)) |
|
|
(9,956 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(1.5)% |
|
|
|
|
|
|
(89,200) |
|
ACEA SpA, strike price 10.42 EUR, expires 05/31/06 |
|
|
(6,043 |
) |
|
|
(260,000) |
|
African Bank Investments Ltd., strike price 34.11 ZAR, expires 06/28/06 |
|
|
(53,189 |
) |
|
|
(120,000) |
|
Alaska Communications Systems Group, Inc., strike price $12, expires 05/19/06 |
|
|
(80,280 |
) |
|
|
(37,900) |
|
Alaska Communications Systems Group, Inc., strike price $12.23, expires 06/16/06 |
|
|
(22,323 |
) |
|
|
(55) |
|
Alliance Bernstein Holdings LP, strike price $65, expires 05/20/06 |
|
|
(4,400 |
) |
|
|
(15,200) |
|
Alliance Bernstein Holdings LP, strike price $72.50, expires 06/16/06 |
|
|
(1,459 |
) |
|
|
(100) |
|
Altria Group, Inc., strike price $75, expires 06/17/06 |
|
|
(15,000 |
) |
|
|
(70) |
|
Arch Coal, Inc., strike price $80, expires 05/20/06 |
|
|
(114,800 |
) |
|
|
(330) |
|
Archer-Daniels-Midland Co., strike price $40, expires 06/17/06 |
|
|
(29,700 |
) |
|
|
(930) |
|
Areva SA, strike price 552.54 EUR, expires 05/31/06 |
|
|
(62,816 |
) |
|
|
(101,700) |
|
Arriva PLC, strike price 5.83 GBP, expires 06/28/06 |
|
|
(35,533 |
) |
|
|
(293,000) |
|
ASM Pacific Technology, strike price 44.29 HKD, expires 05/24/06 |
|
|
(70,974 |
) |
|
|
(68,700) |
|
Assa Abloy AB, strike price 141.95 SEK, expires 05/31/06 |
|
|
(42,351 |
) |
|
|
(16,000) |
|
Atmos Energy Corp., strike price $27, expires 06/16/06 |
|
|
(4,000 |
) |
|
|
(97,000) |
|
BAA PLC, strike price 8.56 GBP, expires 06/28/06 |
|
|
(36,424 |
) |
|
|
(350) |
|
Barrick Gold Corp., strike price $30, expires 05/20/06 |
|
|
(45,500 |
) |
|
|
(22,300) |
|
Bilfinger Berger AG, strike price 53.11 EUR, expires 05/31/06 |
|
|
(6,578 |
) |
|
|
(195,000) |
|
Bodycote Intl., strike price 2.82 GBP, expires 06/28/06 |
|
|
(23,512 |
) |
|
|
(102,700) |
|
Bodycote Intl., strike price 2.84 GBP, expires 05/31/06 |
|
|
(15,134 |
) |
|
|
(195) |
|
BP PLC (ADR), strike price $80, expires 06/17/06 |
|
|
(5,850 |
) |
|
|
(870,000) |
|
Brit Insurance Holdings PLC, strike price 1.01 GBP, expires 06/28/06 |
|
|
(23,972 |
) |
|
|
(137) |
|
Canadian Imperial Bank of Commerce, strike price 85 CAD, expires 05/20/06 |
|
|
(5,514 |
) |
|
|
(220) |
|
Caterpillar, Inc., strike price $80, expires 05/20/06 |
|
|
(12,100 |
) |
|
|
(518) |
|
CI Financial, Inc., strike price 34 CAD, expires 05/20/06 |
|
|
(13,899 |
) |
|
|
(52) |
|
CI Financial, Inc., strike price 34 CAD, expires 06/17/06 |
|
|
(2,558 |
) |
|
|
(208,000) |
|
Citic Pacific Ltd., strike price 23.79 HKD, expires 05/24/06 |
|
|
(91,063 |
) |
|
|
(450) |
|
Consolidated Edison, Inc., strike price $45, expires 06/02/06 |
|
|
(4,050 |
) |
|
|
(55,000) |
|
Cosmote Mobile Telecommunications SA, strike price 19.25 EUR, expires 05/31/06 |
|
|
(38,857 |
) |
|
|
(62,000) |
|
Credito Emiliano SpA, strike price 11.53 EUR, expires 06/09/06 |
|
|
(8,039 |
) |
|
|
(15,900) |
|
D. Carnegie AB, strike price 154.58 SEK, expires 05/31/06 |
|
|
(24,946 |
) |
|
|
(25,000) |
|
D. Carnegie AB, strike price 181.39 SEK, expires 06/09/06 |
|
|
(3,873 |
) |
|
|
(6,000) |
|
Daelim Industrial Co., strike price 67,735.41 KRW, expires 05/11/06 |
|
|
(29,061 |
) |
|
|
(10,000) |
|
Daelim Industrial Co., strike price 83,300 KRW, expires 07/06/06 |
|
|
(5,339 |
) |
|
|
(40,000) |
|
Dairy Crest Group PLC, strike price 4.76 GBP, expires 06/28/06 |
|
|
(10,960 |
) |
|
|
(71,700) |
|
Danske Bank A/S, strike price 77.44 DKK, expires 06/09/06 |
|
|
(17,738 |
) |
|
|
(39,500) |
|
De La Rue PLC, strike price 5.74 GBP, expires 05/31/06 |
|
|
(5,597 |
) |
|
|
(103,100) |
|
De La Rue PLC, strike price 5.77 GBP, expires 05/16/06 |
|
|
(1,997 |
) |
|
|
(123) |
|
Deutsche Bank AG, strike price 96 EUR, expires 05/19/06 |
|
|
(44,070 |
) |
|
|
(171,300) |
|
Diageo PLC, strike price 9.16 GBP, expires 05/16/06 |
|
|
(24,006 |
) |
|
|
(99,000) |
|
DNB Nor ASA, strike price 86.70 NOK, expires 05/31/06 |
|
|
(27,389 |
) |
|
|
(14,000) |
|
E.On AG, strike price 94.72 EUR, expires 06/28/06 |
|
|
(28,577 |
) |
|
|
(17,000) |
|
ENI SpA, strike price 23.65 EUR, expires 05/31/06 |
|
|
(18,120 |
) |
|
|
(108) |
|
ENI SpA, strike price 25 EUR, expires 05/19/06 |
|
|
(7,494 |
) |
|
|
(20,000) |
|
Fording Canadian Coal Trust, strike price 40.10 CAD, expires 05/19/06 |
|
|
(3,120 |
) |
|
|
(9,700) |
|
Fortum Oyj, strike price 20.50 EUR, expires 05/31/06 |
|
|
(5,324 |
) |
|
|
(32,500) |
|
Fortum Oyj, strike price 21.77 EUR, expires 06/09/06 |
|
|
(6,681 |
) |
|
|
(82,600) |
|
Foschini Ltd., strike price 60 ZAR, expires 06/28/06 |
|
|
(52,019 |
) |
|
|
(267,800) |
|
Foster’s Group Ltd., strike price 5.59 AUD, expires 06/21/06 |
|
|
(74,670 |
) |
|
|
(221,000) |
|
Freinds Provident PLC, strike price 2.04 GBP, expires 06/28/06 |
|
|
(17,692 |
) |
|
|
(1,710) |
|
Gerdau SA (ADR), strike price $17.50, expires 06/17/06 |
|
|
(141,075 |
) |
|
|
(31,750) |
|
Gestevision Telecinco SA, strike price 21.26 EUR, expires 06/28/06 |
|
|
(19,985 |
) |
|
|
(320,000) |
|
GKN PLC, strike price 3.36 GBP, expires 05/16/06 |
|
|
(2,428 |
) |
|
|
(350,000) |
|
Goirdano Intl. Ltd., strike price 4.19 HKD, expires 05/24/06 |
|
|
(8,950 |
) |
|
|
(38,000) |
|
GS Engineering & Construction Corp., strike price 52,461.78 KRW, expires 05/11/06 |
|
|
(644,113 |
) |
See Notes to Financial Statements.
28
PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Opportunities Equity Trust (BOE) (continued)
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(1,650,000) |
|
Guangdong Investment Ltd., strike price 3.82 HKD, expires 06/27/06 |
|
$ |
(6,725 |
) |
|
|
(545,000) |
|
Hang Lung Properties Ltd., strike price 14.25 HKD, expires 05/24/06 |
|
|
(106,561 |
) |
|
|
(27,700) |
|
Hannover Rueckversicherung AG, strike price 32.01 EUR, expires 06/09/06 |
|
|
(5,609 |
) |
|
|
(161,400) |
|
Hanson PLC, strike price 8 GBP, expires 05/16/06 |
|
|
(2,979 |
) |
|
|
(35,000) |
|
Hitachi Construction Machinery Co. Ltd., strike price 3,000 JPY, expires 05/30/06 |
|
|
(58,912 |
) |
|
|
(283,000) |
|
Hong Kong Exchanges & Clearing Ltd., strike price 42.29 HKD, expires 05/24/06 |
|
|
(496,179 |
) |
|
|
(14,000) |
|
Hyundai Heavy Industries, strike price 77,737.26 KRW, expires 05/11/06 |
|
|
(189,302 |
) |
|
|
(70) |
|
IHC Caland NV, strike price 86 EUR, expires 05/19/06 |
|
|
(14,572 |
) |
|
|
(53,700) |
|
IMI PLC, strike price 5.82 GBP, expires 05/31/06 |
|
|
(6,385 |
) |
|
|
(40,800) |
|
ING Groep NV, strike price 32.77 EUR, expires 05/31/06 |
|
|
(27,698 |
) |
|
|
(142,500) |
|
Irish Life & Permanent PLC, strike price 20.21 EUR, expires 05/16/06 |
|
|
(63,543 |
) |
|
|
(25,000) |
|
Isetan Co. Ltd., strike price 2,483.25 JPY, expires 07/11/06 |
|
|
(21,682 |
) |
|
|
(53,800) |
|
IVG Immobilien AG, strike price 24.91 EUR, expires 05/31/06 |
|
|
(706 |
) |
|
|
(121,000) |
|
Kelda Group PLC, strike price 8.08 GBP, expires 05/16/06 |
|
|
(3,409 |
) |
|
|
(140,000) |
|
Kerry Properties Ltd., strike price 25.80 HKD, expires 05/24/06 |
|
|
(37,778 |
) |
|
|
(290,000) |
|
Kimberly-Clark de Mexico SA, strike price 39.90 MXN, expires 06/30/06 |
|
|
(30,744 |
) |
|
|
(59,200) |
|
Koninklijke Wessanen NV, strike price 13.96 EUR, expires 06/09/06 |
|
|
(5,968 |
) |
|
|
(364,000) |
|
Legal & General Group PLC, strike price 1.47 GBP, expires 05/31/06 |
|
|
(12,267 |
) |
|
|
(67,000) |
|
Lindex AB, strike price 109.70 SEK, expires 05/31/06 |
|
|
(27,746 |
) |
|
|
(9,600) |
|
Man AG, strike price 55.43 EUR, expires 05/31/06 |
|
|
(49,652 |
) |
|
|
(220) |
|
Man AG, strike price 58 EUR, expires 05/19/06 |
|
|
(76,050 |
) |
|
|
(280) |
|
McDonald’s Corp., strike price $35, expires 05/20/06 |
|
|
(11,200 |
) |
|
|
(150,000) |
|
Morinaga & Co. Ltd., strike price 328.86 JPY, expires 06/07/06 |
|
|
(9,668 |
) |
|
|
(815,000) |
|
New World Development Co. Ltd., strike price 13.95 HKD, expires 05/24/06 |
|
|
(48,322 |
) |
|
|
(160) |
|
Newmont Mining Corp., strike price $57.50, expires 05/20/06 |
|
|
(35,200 |
) |
|
|
(40,000) |
|
Nordea Bank AB, strike price 234.86 DKK, expires 06/09/06 |
|
|
(29,179 |
) |
|
|
(21,500) |
|
Oriflame Cosmetics SA (ADR), strike price 289 SEK, expires 06/28/06 |
|
|
(24,460 |
) |
|
|
(28,400) |
|
Orkla ASA, strike price 334.05 NOK, expires 05/31/06 |
|
|
(20,036 |
) |
|
|
(30,000) |
|
Pepco Holdings, Inc., strike price $23.10, expires 06/16/06 |
|
|
(15,960 |
) |
|
|
(5) |
|
PetroChina Co. Ltd. (ADR), strike price $110, expires 05/20/06 |
|
|
(2,500 |
) |
|
|
(46) |
|
PetroChina Co. Ltd. (ADR), strike price $120, expires 05/20/06 |
|
|
(4,600 |
) |
|
|
(65) |
|
PetroChina Co. Ltd. (ADR), strike price $120, expires 06/17/06 |
|
|
(15,925 |
) |
|
|
(120) |
|
Petroleo Brasileiro SA (ADR), strike price $90, expires 05/20/06 |
|
|
(116,400 |
) |
|
|
(32,000) |
|
Piraeus Bank SA, strike price 25.52 EUR, expires 06/09/06 |
|
|
(25,212 |
) |
|
|
(90,000) |
|
Publishing & Broadcasting Ltd., strike price 17.97 AUD, expires 05/24/06 |
|
|
(55,939 |
) |
|
|
(39,100) |
|
QBE Insurance Group Ltd., strike price 23.10 AUD, expires 06/21/06 |
|
|
(14,645 |
) |
|
|
(124,200) |
|
Rexam PLC, strike price 5.66 GBP, expires 06/28/06 |
|
|
(12,862 |
) |
|
|
(25) |
|
Rio Tinto PLC, strike price 2,936 GBP, expires 05/19/06 |
|
|
(66,859 |
) |
|
|
(26,300) |
|
Rodamco Europe NV, strike price 83.94 EUR, expires 05/31/06 |
|
|
(102,464 |
) |
|
|
(200) |
|
Royal Dutch Shell PLC (ADR), strike price $65, expires 05/20/06 |
|
|
(66,000 |
) |
|
|
(100) |
|
RR Donnelley & Sons Co., strike price $33.50, expires 05/12/06 |
|
|
(4,400 |
) |
|
|
(95) |
|
RR Donnelley & Sons Co., strike price $35, expires 06/17/06 |
|
|
(2,375 |
) |
|
|
(23,000) |
|
RWE AG, strike price 72.33 EUR, expires 06/28/06 |
|
|
(35,723 |
) |
|
|
(12,000) |
|
S-Oil Corp., strike price 69,028.88 KRW, expires 05/11/06 |
|
|
(53,489 |
) |
|
|
(32,000) |
|
Sandvik AB, strike price 455.49 SEK, expires 05/31/06 |
|
|
(90,201 |
) |
|
|
(72,200) |
|
Scottish & Southern Energy PLC, strike price 11.73 GBP, expires 05/16/06 |
|
|
(5,507 |
) |
|
|
(261,000) |
|
Singapore Exchange Ltd., strike price 4.41 SGD, expires 06/27/06 |
|
|
(33,331 |
) |
|
|
(25,700) |
|
Skanska AB, strike price 133.11 SEK, expires 06/28/06 |
|
|
(8,824 |
) |
|
|
(44,000) |
|
Skanska AB, strike price 134 SEK, expires 06/28/06 |
|
|
(13,505 |
) |
|
|
(82,200) |
|
Smiths Group PLC, strike price 10.64 GBP, expires 06/28/06 |
|
|
(50,359 |
) |
|
|
(8,400) |
|
Societe Generale, strike price 126.97 EUR, expires 05/31/06 |
|
|
(14,203 |
) |
|
|
(89,000) |
|
St. George Bank Ltd., strike price 31.11 AUD, expires 06/21/06 |
|
|
(26,256 |
) |
|
|
(15,100) |
|
Statoil ASA, strike price 179 NOK, expires 06/09/06 |
|
|
(45,904 |
) |
|
|
(40,500) |
|
Statoil ASA, strike price 184.62 NOK, expires 05/31/06 |
|
|
(89,866 |
) |
|
|
(111,400) |
|
Storebrand ASA, strike price 78.39 NOK, expires 05/31/06 |
|
|
(1,715 |
) |
|
|
(55,000) |
|
Strategic Hotels & Resorts, Inc., strike price $22.75, expires 07/21/06 |
|
|
(48,714 |
) |
|
|
(150) |
|
Teck Cominco Ltd., strike price 78 CAD, expires 05/20/06 |
|
|
(32,199 |
) |
|
|
(285,000) |
|
Telecom Corp. of New Zealand Ltd., strike price 5.55 NZD, expires 06/21/06 |
|
|
(43,038 |
) |
|
|
(128) |
|
Toyota Motor Corp. (ADR), strike price $120, expires 06/17/06 |
|
|
(31,360 |
) |
|
|
(150,000) |
|
Truworths Intl. Ltd., strike price 27.96 ZAR, expires 06/28/06 |
|
|
(47,060 |
) |
|
|
(114,000) |
|
Unicredito Italiano SpA, strike price 6.09 EUR, expires 06/28/06 |
|
|
(14,411 |
) |
|
|
(200,000) |
|
United Overseas Bank Ltd., strike price 15.48 SGD, expires 05/24/06 |
|
|
(78,622 |
) |
|
|
(161,800) |
|
United Utilities PLC, strike price 6.85 GBP, expires 06/28/06 |
|
|
(13,755 |
) |
|
|
(170) |
|
UST, Inc., strike price $45, expires 06/07/06 |
|
|
(18,700 |
) |
|
|
(38,700) |
|
Viridian Group PLC, strike price $10.32, expires 05/16/06 |
|
|
(621 |
) |
See Notes to Financial Statements.
29
PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Global Opportunities Equity Trust (BOE) (continued)
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(8,500 |
) |
Viridian Group PLC, strike price 10.06 GBP, expires 06/09/06 |
|
$ |
(3,232 |
) |
|
|
(9,000 |
) |
Viridian Group PLC, strike price 9.87 GBP, expires 06/28/06 |
|
|
(5,751 |
) |
|
|
(28,545 |
) |
Wartsila Oyj, strike price 30.81 EUR, expires 05/16/06 |
|
|
(109,557 |
) |
|
|
(92,000 |
) |
Whitbread PLC, strike price 11.92 GBP, expires 06/28/06 |
|
|
(24,299 |
) |
|
|
(57,000 |
) |
Wolverhampton & Dudley Brew PLC, strike price 13.48 GBP, expires 06/28/06 |
|
|
(29,555 |
) |
|
|
(184,000 |
) |
Yue Yuen Industrial Holdings, strike price 25.20 HKD, expires 05/24/06 |
|
|
(709 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Outstanding Call Options Written (premium received ($3,142,225)) |
|
|
(5,000,281 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total outstanding options written (premium received ($3,171,593)) |
|
|
(5,010,237 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments net of outstanding options written—96.5% |
|
$ |
327,279,955 |
|
|
|
|
|
Other assets in excess of liabilities—3.5% |
|
|
11,913,312 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
$ |
339,193,267 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Security, or a portion thereof, pledged as collateral for outstanding options written. |
|
2 |
Security is fair valued. |
|
3 |
Cost for federal income tax purposes is $305,826,197. The net unrealized appreciation on a tax basis is $26,463,995, consisting of $28,556,246 gross unrealized appreciation and $2,092,251 gross unrealized depreciation. |
|
|
|
|
|
|
|
|
|
KEY TO ABBREVIATIONS |
||||||
|
|
||||||
|
ADR — American Depositary Receipts |
|
EUR — Euro |
|
KRW — South Korean Won |
|
SEK — Swedish Krona |
|
AUD — Australian Dollar |
|
GBP — British Pound |
|
MXN — Mexican Peso |
|
SGD — Singapore Dollar |
|
CAD — Canadian Dollar |
|
HKD — Hong Kong Dollar |
|
NOK — Norwegian Krone |
|
ZAR — South African Rand |
|
DKK — Danish Krone |
|
JPY — Japanese Yen |
|
|
|
|
See Notes to Financial Statements.
30
PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Health Sciences Trust (BME)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM INVESTMENTS—89.9% |
|
|
|
|
|
|
|
|
Common Stocks—89.9% |
|
|
|
|
|
|
|
|
Canada—1.6% |
|
|
|
|
|
|
305,763 |
1 |
Cardiome Pharma Corp. |
|
$ |
3,241,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
France—0.7% |
|
|
|
|
|
|
29,956 |
|
Sanofi-Aventis (ADR) |
|
|
1,409,130 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Switzerland—6.0% |
|
|
|
|
|
|
137,134 |
|
Novartis AG (ADR) |
|
|
7,886,577 |
|
|
|
57,300 |
|
Roche Holding AG |
|
|
4,392,807 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Switzerland |
|
|
12,279,384 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United Kingdom—8.1% |
|
|
|
|
|
|
54,200 |
|
AstraZeneca PLC |
|
|
2,988,046 |
|
|
|
119,243 |
|
GlaxoSmithKline PLC (ADR) |
|
|
6,782,542 |
|
|
|
145,790 |
|
Shire PLC |
|
|
6,904,614 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United Kingdom |
|
|
16,675,202 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States—73.5% |
|
|
|
|
|
|
50,300 |
2 |
Abbott Laboratories |
|
|
2,149,822 |
|
|
|
51,800 |
1 |
Advanced Medical Optics |
|
|
2,413,880 |
|
|
|
246,300 |
1 |
Alexion Pharmaceuticals, Inc. |
|
|
8,371,737 |
|
|
|
23,600 |
|
Allergan, Inc. |
|
|
2,424,192 |
|
|
|
35,600 |
1,2 |
Amgen, Inc. |
|
|
2,410,120 |
|
|
|
14,013 |
1 |
Arena Pharmaceuticals, Inc. |
|
|
198,424 |
|
|
|
34,900 |
1 |
Aspect Medical Systems, Inc. |
|
|
993,254 |
|
|
|
57,700 |
|
Baxter Intl., Inc. |
|
|
2,175,290 |
|
|
|
19,000 |
|
Becton Dickinson & Co. |
|
|
1,197,760 |
|
|
|
337,238 |
1 |
BioMarin Pharmaceuticals, Inc. |
|
|
4,148,028 |
|
|
|
111,800 |
1 |
Boston Scientific Corp. |
|
|
2,598,232 |
|
|
|
197,700 |
|
Bristol-Myers Squibb Co. |
|
|
5,017,626 |
|
|
|
59,400 |
|
C.R. Bard, Inc. |
|
|
4,422,924 |
|
|
|
143,000 |
1,2 |
Caremark Rx, Inc. |
|
|
6,513,650 |
|
|
|
98,000 |
1 |
Community Health Systems, Inc. |
|
|
3,551,520 |
|
|
|
81,900 |
1 |
Cortex Pharmaceuticals, Inc. |
|
|
235,872 |
|
|
|
118,600 |
|
CVS Corp. |
|
|
3,524,792 |
|
|
|
73,100 |
1 |
Davita, Inc. |
|
|
4,112,606 |
|
|
|
52,985 |
|
Dentsply Intl., Inc. |
|
|
3,161,615 |
|
|
|
36,452 |
1 |
Digene Corp. |
|
|
1,505,832 |
|
|
|
49,889 |
1 |
Edwards Lifesciences Corp. |
|
|
2,217,067 |
|
|
|
120,700 |
1 |
Exelixis, Inc. |
|
|
1,298,732 |
|
|
|
143,873 |
1 |
Gene Logic, Inc. |
|
|
415,793 |
|
|
|
39,800 |
1 |
Gilead Sciences, Inc. |
|
|
2,288,500 |
|
|
|
36,867 |
1 |
InterMune, Inc. |
|
|
589,503 |
|
|
|
217,764 |
1 |
Keryx Biopharmaceuticals, Inc. |
|
|
3,708,521 |
|
|
|
83,200 |
1 |
Kosan Biosciences, Inc. |
|
|
416,000 |
|
|
|
140,200 |
|
Manor Care, Inc. |
|
|
6,147,770 |
|
|
|
59,400 |
1 |
Medco Health Solutions, Inc. |
|
|
3,161,862 |
|
|
|
101,189 |
1 |
Medimmune, Inc. |
|
|
3,184,418 |
|
|
|
266,600 |
|
Merck & Co., Inc. |
|
|
9,176,372 |
|
|
|
314,000 |
|
Pfizer, Inc. |
|
|
7,953,620 |
|
|
|
86,200 |
|
Quest Diagnostics |
|
|
4,803,926 |
|
|
|
87,900 |
1 |
Regeneron Pharmaceuticals |
|
|
1,276,308 |
|
|
|
132,616 |
1 |
Renovis, Inc. |
|
|
2,339,346 |
|
|
|
146,200 |
1 |
Respironics, Inc. |
|
|
5,353,844 |
|
|
|
482,000 |
|
Schering-Plough Corp. |
|
|
9,312,240 |
|
|
|
28,800 |
1 |
Sybron Dental Specialties |
|
|
1,354,752 |
|
|
|
133,818 |
1 |
Varian Medical Systems, Inc. |
|
|
7,009,387 |
|
|
|
124,988 |
1 |
Waters Corp. |
|
|
5,664,456 |
|
|
|
162,870 |
1 |
Wright Medical Group, Inc. |
|
|
3,822,559 |
|
|
|
172,900 |
|
Wyeth |
|
|
8,415,043 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United States |
|
|
151,037,195 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks (cost $173,426,130) |
|
|
184,641,999 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
31
PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Health Sciences Trust (BME) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENTS—7.6% |
|
|
|
|
|
|
|
|
Money Market Fund—3.0% |
|
|
|
|
|
|
6,180,336 |
|
Fidelity Institutional Money Market Prime Portfolio |
|
$ |
6,180,336 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government and Agency Zero Coupon Bond—4.6% |
|
|
|
|
|
$ |
9,400,000 |
3 |
Federal Home Loan Bank Discount Notes, 4.71%, 5/01/06 |
|
|
9,400,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments (cost $15,580,336) |
|
|
15,580,336 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING OPTION PURCHASED—0.0% |
|
|
|
|
|
|
100 |
4 |
Aspect Medical Systems, Inc., strike price $35, expires 05/20/06 (cost $2,650) |
|
|
500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments before outstanding options written (cost $189,009,1165) |
|
|
200,222,835 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING OPTIONS WRITTEN—(0.4)% |
|
|
|
|
|
|
|
|
OUTSTANDING PUT OPTIONS WRITTEN—(0.1)% |
|
|
|
|
|
|
(100 |
) |
Abbott Laboratories, strike price $40, expires 05/20/06 |
|
|
(750 |
) |
|
|
(90 |
) |
Amgen, Inc., strike price $67.5, expires 05/20/06 |
|
|
(9,900 |
) |
|
|
(385 |
) |
Biomarin Pharmaceuticals, Inc., strike price $12.50, expires 05/20/06 |
|
|
(25,025 |
) |
|
|
(125 |
) |
Digene Corp., strike price $40, expires 05/20/06 |
|
|
(14,375 |
) |
|
|
(90 |
) |
Medco Health Solutions, Inc., strike price $50, expires 05/20/06 |
|
|
(4,950 |
) |
|
|
(70 |
) |
Regeneron Pharmaceuticals, strike price $15, expires 05/20/06 |
|
|
(5,950 |
) |
|
|
(125 |
) |
Waters Corp., strike price $40, expires 05/20/06 |
|
|
(2,500 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total outstanding put options written (premium received ($90,938)) |
|
|
(63,450 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(0.3)% |
|
|
|
|
|
|
(65 |
) |
Advanced Medical Optics, strike price $50, expires 05/20/06 |
|
|
(1,625 |
) |
|
|
(435 |
) |
Alexion Pharmaceuticals, Inc., strike price $35, expires 05/20/06 |
|
|
(41,325 |
) |
|
|
(40 |
) |
Allergan, Inc., strike price $100, expires 05/20/06 |
|
|
(18,000 |
) |
|
|
(100 |
)4 |
Aspect Medical Systems, Inc., strike price $40, expires 05/20/06 |
|
|
(1,000 |
) |
|
|
(130 |
) |
AstraZeneca PLC, strike price $55, expires 07/22/06 |
|
|
(37,050 |
) |
|
|
(100 |
) |
Baxter Intl., Inc., strike price $40, expires 05/20/06 |
|
|
(1,000 |
) |
|
|
(100 |
) |
Becton Dickinson & Co., strike price $65, expires 06/17/06 |
|
|
(9,750 |
) |
|
|
(140 |
) |
Boston Scientific Corp., strike price $22.50, expires 05/20/06 |
|
|
(14,700 |
) |
|
|
(130 |
) |
Bristol-Myers Squibb Co., strike price $25, expires 05/20/06 |
|
|
(9,750 |
) |
|
|
(150 |
) |
Bristol-Myers Squibb Co., strike price $25, expires 06/17/06 |
|
|
(16,500 |
) |
|
|
(100 |
) |
C.R. Bard, Inc., strike price $75, expires 07/22/06 |
|
|
(33,000 |
) |
|
|
(750 |
) |
Cardiome Pharma Corp., strike price $12.50, expires 09/16/06 |
|
|
(97,500 |
) |
|
|
(550 |
) |
Caremark Rx, Inc., strike price $55, expires 06/17/06 |
|
|
(11,000 |
) |
|
|
(150 |
) |
Community Health Systems, Inc., strike price $40, expires 06/17/06 |
|
|
(2,625 |
) |
|
|
(285 |
) |
CVS Corp., strike price $30, expires 05/20/06 |
|
|
(21,375 |
) |
|
|
(16,000 |
) |
Davita, Inc., strike price $58, expires 06/16/06 |
|
|
(25,568 |
) |
|
|
(140 |
) |
Dentsply Intl., Inc., strike price $60, expires 07/22/06 |
|
|
(28,700 |
) |
|
|
(75 |
) |
Edwards Lifesciences Corp., strike price $45, expires 05/20/06 |
|
|
(4,500 |
) |
|
|
(130 |
) |
Exelixis, Inc., strike price $12.50, expires 05/20/06 |
|
|
(2,600 |
) |
|
|
(100 |
) |
Gilead Sciences, Inc., strike price $65, expires 05/20/06 |
|
|
(2,500 |
) |
|
|
(150 |
) |
GlaxoSmithKline PLC (ADR), strike price $55, expires 05/20/06 |
|
|
(34,500 |
) |
|
|
(60 |
) |
Intermune, Inc., strike price $17.50, expires 05/20/06 |
|
|
(1,500 |
) |
|
|
(200 |
) |
Keryx Biopharmaceuticals, Inc., strike price $17.50, expires 05/20/06 |
|
|
(7,000 |
) |
|
|
(200 |
) |
Keryx Biopharmaceuticals, Inc., strike price $17.50, expires 06/17/06 |
|
|
(17,000 |
) |
|
|
(200 |
)4 |
Keryx Biopharmaceuticals, Inc., strike price $20, expires 05/20/06 |
|
|
(2,000 |
) |
|
|
(120 |
) |
Manor Care, Inc., strike price $45, expires 06/17/06 |
|
|
(7,800 |
) |
|
|
(160 |
) |
Medco Health Solutions, Inc., strike price $55, expires 05/20/06 |
|
|
(14,400 |
) |
|
|
(350 |
) |
Merck & Co., Inc., strike price $35, expires 06/17/06 |
|
|
(22,750 |
) |
|
|
(17,000 |
) |
Novartis AG (ADR), strike price $57, expires 05/19/06 |
|
|
(20,806 |
) |
|
|
(250 |
) |
Pfizer, Inc., strike price $25.50, expires 05/12/06 |
|
|
(4,000 |
) |
|
|
(17,900 |
) |
Pfizer, Inc., strike price $26.68, expires 05/26/06 |
|
|
(412 |
) |
|
|
(55 |
) |
Quest Diagnostics, strike price $55, expires 05/20/06 |
|
|
(7,837 |
) |
|
|
(300 |
)4 |
Renovis, Inc., strike price $25, expires 05/20/06 |
|
|
(3,000 |
) |
|
|
(120 |
)4 |
Respironics, Inc., strike price $40, expires 05/20/06 |
|
|
(2,400 |
) |
|
|
(28,500 |
) |
Roche Holding AG, strike price $78.13, expires 05/19/06 |
|
|
(21,945 |
) |
|
|
(40 |
) |
Sanofi-Aventis (ADR), strike price $45, expires 05/20/06 |
|
|
(10,000 |
) |
|
|
(550 |
) |
Schering-Plough Corp., strike price $20, expires 05/20/06 |
|
|
(5,500 |
) |
|
|
(100 |
) |
Shire PLC, strike price $47.50, expires 05/20/06 |
|
|
(10,000 |
) |
See Notes to Financial Statements.
32
PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Health Sciences Trust (BME) (continued)
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(100) |
|
Shire PLC, strike price $50, expires 05/20/06 |
|
$ |
(4,250 |
) |
|
|
(35) |
|
Varian Medical Systems, strike price $55, expires 05/20/06 |
|
|
(875 |
) |
|
|
(150) |
|
Varian Medical Systems, strike price $60, expires 05/20/06 |
|
|
(2,250 |
) |
|
|
(195) |
|
Waters Corp., strike price $45, expires 05/20/06 |
|
|
(23,888 |
) |
|
|
(250) |
|
Wright Medical Group, Inc., strike price $25, expires 06/17/06 |
|
|
(12,500 |
) |
|
|
(200) |
|
Wyeth, strike price $47.50, expires 06/17/06 |
|
|
(36,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Outstanding Call Options Written (premium received ($720,021)) |
|
|
(652,681 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total outstanding options written (premium received ($810,959)) |
|
|
(716,131 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments net of outstanding options written—97.1% |
|
$ |
199,506,704 |
|
|
|
|
|
Other assets in excess of liabilities—2.9% |
|
|
5,864,914 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
$ |
205,371,618 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1 |
Non-income producing security. |
|
|
2 |
Security, or a portion thereof, pledged as collateral for outstanding options written. |
|
|
3 |
Rate shown is yield to maturity as of April 30, 2006. |
|
|
4 |
Security is fair valued. |
|
|
5 |
Cost for federal income tax purposes is $192,089,878. The net unrealized appreciation on a tax basis is $8,132,957, consisting of $10,227,601 gross unrealized appreciation and $2,094,644 gross unrealized depreciation. |
|
KEY TO ABBREVIATIONS
ADR
— American Depositary Receipts
REIT — Real Estate Investment Trust
See Notes to Financial Statements.
33
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM INVESTMENTS—99.3% |
|
|
|
|
|
|
|
|
Common Stocks—99.3% |
|
|
|
|
|
|
|
|
Australia—5.4% |
|
|
|
|
|
|
281,000 |
|
CSR Ltd. |
|
$ |
864,635 |
|
|
|
64,700 |
|
National Australia Bank Ltd. |
|
|
1,848,754 |
|
|
|
126,100 |
|
Santos Ltd. |
|
|
1,132,411 |
|
|
|
84,400 |
|
TABCORP Holdings Ltd. |
|
|
981,082 |
|
|
|
33,200 |
|
Wesfarmers Ltd. |
|
|
913,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Australia |
|
|
5,739,982 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Austria—0.8% |
|
|
|
|
|
|
3,500 |
1 |
Boehler-Uddeholm AG |
|
|
793,973 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canada—6.7% |
|
|
|
|
|
|
25,500 |
|
Bank of Montreal |
|
|
1,474,965 |
|
|
|
14,100 |
|
Bank of Nova Scotia |
|
|
586,675 |
|
|
|
16,000 |
|
Enbridge, Inc. |
|
|
474,398 |
|
|
|
36,800 |
|
Royal Bank of Canada |
|
|
1,574,627 |
|
|
|
52,400 |
|
Toronto-Dominion Bank |
|
|
2,926,864 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Canada |
|
|
7,037,529 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denmark—1.2% |
|
|
|
|
|
|
32,400 |
|
Danske Bank A/S |
|
|
1,288,965 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finland—0.4% |
|
|
|
|
|
|
10,700 |
|
Stockmann Oyj ABP |
|
|
438,724 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
France—4.6% |
|
|
|
|
|
|
19,200 |
|
AXA |
|
|
704,643 |
|
|
|
11,700 |
|
Bouygues |
|
|
638,405 |
|
|
|
19,400 |
|
M6-Metropole Television |
|
|
605,026 |
|
|
|
5,300 |
|
Societe Generale |
|
|
809,737 |
|
|
|
4,300 |
|
Total SA |
|
|
1,189,140 |
|
|
|
9,100 |
|
Vinci SA |
|
|
904,099 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total France |
|
|
4,851,050 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Germany—1.6% |
|
|
|
|
|
|
10,500 |
|
BASF AG |
|
|
898,800 |
|
|
|
3,800 |
|
SAP AG |
|
|
831,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Germany |
|
|
1,730,098 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hong Kong—1.8% |
|
|
|
|
|
|
71,000 |
|
Esprit Holdings Ltd. |
|
|
566,842 |
|
|
|
22,600 |
|
Hang Seng Bank Ltd. |
|
|
292,655 |
|
|
|
204,500 |
|
Hong Kong Electric Holding |
|
|
1,007,558 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Hong Kong |
|
|
1,867,055 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ireland—0.3% |
|
|
|
|
|
|
16,600 |
|
Bank of Ireland |
|
|
311,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Italy—1.3% |
|
|
|
|
|
|
156,200 |
|
Enel SpA |
|
|
1,349,881 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Japan—5.0% |
|
|
|
|
|
|
19,200 |
|
Kesko Oyj |
|
|
662,737 |
|
|
|
53,000 |
|
Mitsui & Co. Ltd. |
|
|
801,063 |
|
|
|
12,000 |
|
Nitto Denko Corp. |
|
|
1,006,455 |
|
|
|
53,000 |
|
Ricoh Co. Ltd. |
|
|
1,051,947 |
|
|
|
42,000 |
|
Sharp Corp. |
|
|
737,347 |
|
|
|
17,300 |
|
Toyota Motor Corp. |
|
|
1,011,883 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Japan |
|
|
5,271,432 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Netherlands—1.8% |
|
|
|
|
|
|
20,800 |
|
ABN Amro Holding NV |
|
|
621,659 |
|
|
|
104,100 |
|
Koninklijke (Royal) KPN NV |
|
|
1,222,713 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Netherlands |
|
|
1,844,372 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Spain—0.6% |
|
|
|
|
|
|
32,600 |
|
Indra Sistemas SA |
|
|
671,215 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
34
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
Sweden—3.2% |
|
|
|
|
|
|
15,300 |
|
Hennes & Mauritz AB |
|
$ |
581,097 |
|
|
|
85,000 |
1 |
Ratos AB |
|
|
1,432,240 |
|
|
|
42,500 |
1 |
Ratos AB (Redemption shares) |
|
|
109,151 |
|
|
|
27,000 |
|
Scania AB |
|
|
1,256,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Sweden |
|
|
3,379,095 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United Kingdom—10.6% |
|
|
|
|
|
|
55,300 |
|
Alliance & Leicester PLC |
|
|
1,132,461 |
|
|
|
141,100 |
|
Barclays PLC |
|
|
1,762,528 |
|
|
|
122,800 |
|
BP PLC |
|
|
1,514,902 |
|
|
|
33,500 |
|
Gallaher Group PLC |
|
|
532,085 |
|
|
|
40,000 |
|
George Wimpey PLC |
|
|
381,852 |
|
|
|
61,200 |
|
HSBC Holdings PLC |
|
|
1,057,424 |
|
|
|
193,500 |
|
Rentokil Initial PLC |
|
|
563,690 |
|
|
|
46,300 |
|
Royal Dutch Shell PLC |
|
|
1,587,649 |
|
|
|
69,183 |
|
Scottish & Southern Energy PLC |
|
|
1,419,287 |
|
|
|
540,000 |
|
Vodafone Goup PLC |
|
|
1,275,211 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United Kingdom |
|
|
11,227,089 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States—54.0% |
|
|
|
|
|
|
24,300 |
|
Abbott Laboratories |
|
|
1,038,582 |
|
|
|
16,500 |
|
Agree Realty Corp. (REIT) |
|
|
518,760 |
|
|
|
22,600 |
|
Alcoa, Inc. |
|
|
763,428 |
|
|
|
55,700 |
|
Allied Capital Corp. |
|
|
1,730,042 |
|
|
|
29,600 |
|
Altria Group, Inc. |
|
|
2,165,536 |
|
|
|
17,900 |
|
Ameren Corp. |
|
|
901,623 |
|
|
|
11,100 |
|
American Intl. Group |
|
|
724,275 |
|
|
|
60,200 |
|
AT&T, Inc. |
|
|
1,577,842 |
|
|
|
47,200 |
|
Bank of America Corp. |
|
|
2,356,224 |
|
|
|
50,400 |
|
BellSouth Corp. |
|
|
1,702,512 |
|
|
|
12,800 |
|
Chevron Corp. |
|
|
781,056 |
|
|
|
13,200 |
1 |
Cisco Systems, Inc. |
|
|
276,540 |
|
|
|
11,200 |
|
Colonial Properties Trust (REIT) |
|
|
551,488 |
|
|
|
5,900 |
|
Comerica, Inc. |
|
|
335,533 |
|
|
|
17,300 |
|
ConAgra Foods, Inc. |
|
|
392,364 |
|
|
|
14,100 |
|
Consolidated Edison, Inc. |
|
|
607,992 |
|
|
|
26,200 |
|
Duke Energy Corp. |
|
|
762,944 |
|
|
|
18,800 |
|
Eli Lilly & Co. |
|
|
994,896 |
|
|
|
22,600 |
|
Emerson Electric Co. |
|
|
1,919,870 |
|
|
|
14,400 |
|
Equity Residential (REIT) |
|
|
646,128 |
|
|
|
35,800 |
|
Exxon Mobil Corp. |
|
|
2,258,264 |
|
|
|
25,900 |
|
First Industrial Realty Trust, Inc. (REIT) |
|
|
1,016,316 |
|
|
|
76,100 |
|
General Electric Co. |
|
|
2,632,299 |
|
|
|
64,100 |
|
GlaxoSmithKline PLC |
|
|
1,818,805 |
|
|
|
37,600 |
|
Health Care REIT, Inc. (REIT) |
|
|
1,308,480 |
|
|
|
31,000 |
|
Hewlett-Packard Co. |
|
|
1,006,570 |
|
|
|
21,400 |
|
Home Depot, Inc. |
|
|
854,502 |
|
|
|
12,700 |
|
Hospitality Properties Trust (REIT) |
|
|
547,370 |
|
|
|
11,500 |
|
Intel Corp. |
|
|
229,770 |
|
|
|
16,400 |
|
Intl. Business Machines Corp. |
|
|
1,350,376 |
|
|
|
23,700 |
|
Johnson & Johnson |
|
|
1,389,057 |
|
|
|
17,300 |
|
KeyCorp |
|
|
661,206 |
|
|
|
33,800 |
|
Kimco Realty Corp. (REIT) |
|
|
1,254,994 |
|
|
|
10,800 |
|
Liberty Property Trust (REIT) |
|
|
482,760 |
|
|
|
27,600 |
|
Linear Technology Corp. |
|
|
979,800 |
|
|
|
11,400 |
|
Maxim Integrated Products, Inc. |
|
|
401,964 |
|
|
|
23,000 |
|
McDonald’s Corp. |
|
|
795,110 |
|
|
|
25,000 |
|
Merck & Co., Inc. |
|
|
860,500 |
|
|
|
25,500 |
|
Microchip Technology, Inc. |
|
|
950,130 |
|
|
|
79,700 |
|
Microsoft Corp. |
|
|
1,924,755 |
|
|
|
17,100 |
|
Morgan Stanley |
|
|
1,099,530 |
|
|
|
47,400 |
|
Motorola, Inc. |
|
|
1,011,990 |
|
|
|
34,400 |
|
Nationwide Health Properties, Inc. (REIT) |
|
|
740,288 |
|
|
|
7,900 |
|
PepsiCo, Inc. |
|
|
460,096 |
|
See Notes to Financial Statements.
35
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
United States—(cont’d) |
|
|
|
|
|
|
56,800 |
|
Pfizer, Inc. |
|
$ |
1,438,744 |
|
|
|
9,300 |
|
Pitney Bowes, Inc. |
|
|
389,205 |
|
|
|
10,700 |
|
Progress Energy, Inc. |
|
|
457,960 |
|
|
|
8,600 |
|
Public Service Enterprise Group, Inc. |
|
|
539,220 |
|
|
|
17,300 |
|
Reckson Associates Realty Corp. (REIT) |
|
|
703,764 |
|
|
|
32,900 |
|
Thornburg Mortgage, Inc. (REIT) |
|
|
951,139 |
|
|
|
13,800 |
|
United Technologies Corp. |
|
|
866,778 |
|
|
|
21,900 |
|
UST, Inc. |
|
|
962,067 |
|
|
|
7,900 |
|
Vornado Realty Trust (REIT) |
|
|
755,556 |
|
|
|
13,800 |
|
Wachovia Corp. |
|
|
825,930 |
|
|
|
12,100 |
|
Wal-Mart Stores, Inc. |
|
|
544,863 |
|
|
|
19,360 |
|
Washington Federal, Inc. |
|
|
463,091 |
|
|
|
19,100 |
|
Wells Fargo & Co. |
|
|
1,311,979 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United States |
|
|
56,992,863 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks (cost $85,154,558) |
|
|
104,794,531 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MONEY MARKET FUND—0.6% |
|
|
|
|
|
|
613,105 |
|
Fidelity Institutional Money Market Prime Portfolio (cost $613,105) |
|
|
613,105 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments—99.9% (cost $85,767,6632) |
|
$ |
105,407,636 |
|
|
|
|
|
Other assets in excess of liabilities—0.1% |
|
|
103,918 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
$ |
105,511,554 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Non-income producing security. |
|
2 |
Cost for federal income tax purposes is $85,781,342. The net unrealized appreciation on a tax basis is $19,626,294, consisting of $20,723,625 gross unrealized appreciation and $1,097,331 gross unrealized depreciation. |
|
|
|
KEY TO ABBREVIATIONS |
See Notes to Financial Statements.
36
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Strategic Dividend AchieversTM Trust (BDT)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM INVESTMENTS—99.0% |
|
|
|
|
|
|
|
|
Common Stocks—99.0% |
|
|
|
|
|
|
|
|
Automotive—4.0% |
|
|
|
|
|
|
207,000 |
|
Genuine Parts Co. |
|
$ |
9,035,550 |
|
|
|
75,000 |
|
Harsco Corp. |
|
|
6,251,250 |
|
|
|
95,000 |
|
Superior Industries Intl. |
|
|
1,787,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Automotive |
|
|
17,074,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic Materials—2.3% |
|
|
|
|
|
|
256,700 |
|
RPM Intl., Inc. |
|
|
4,723,280 |
|
|
|
155,300 |
|
Sonoco Products Co. |
|
|
4,863,996 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Basic Materials |
|
|
9,587,276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Products—12.9% |
|
|
|
|
|
|
152,000 |
|
Avery Dennison Corp. |
|
|
9,500,000 |
|
|
|
162,600 |
|
La-Z-Boy, Inc. |
|
|
2,491,032 |
|
|
|
82,000 |
|
Lancaster Colony Corp. |
|
|
3,366,100 |
|
|
|
113,000 |
|
Meridian Bioscience, Inc. |
|
|
2,933,480 |
|
|
|
260,000 |
|
Pier 1 Imports, Inc. |
|
|
3,138,200 |
|
|
|
199,700 |
|
Sherwin-Williams Co. (The) |
|
|
10,172,718 |
|
|
|
86,000 |
|
Stanley Works (The) |
|
|
4,493,500 |
|
|
|
252,000 |
|
Supervalu, Inc. |
|
|
7,310,520 |
|
|
|
65,900 |
|
Universal Corp. |
|
|
2,508,813 |
|
|
|
143,000 |
|
VF Corp. |
|
|
8,750,170 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Products |
|
|
54,664,533 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy—15.8% |
|
|
|
|
|
|
79,500 |
|
American States Water Co. |
|
|
3,172,845 |
|
|
|
174,200 |
|
Atmos Energy Corp. |
|
|
4,623,268 |
|
|
|
59,600 |
|
Black Hills Corp. |
|
|
2,169,440 |
|
|
|
66,000 |
|
California Water Service Group |
|
|
2,805,660 |
|
|
|
144,800 |
|
MDU Resources Group, Inc. |
|
|
5,321,400 |
|
|
|
85,200 |
|
MGE Energy, Inc. |
|
|
2,717,880 |
|
|
|
146,400 |
|
National Fuel Gas Co. |
|
|
4,867,800 |
|
|
|
132,100 |
|
Nicor, Inc. |
|
|
5,232,481 |
|
|
|
99,500 |
|
Otter Tail Corp. |
|
|
2,970,075 |
|
|
|
116,500 |
|
Peoples Energy Corp. |
|
|
4,232,445 |
|
|
|
166,500 |
|
Piedmont Natural Gas Co. |
|
|
4,084,245 |
|
|
|
211,000 |
|
Pinnacle West Capital Corp. |
|
|
8,461,100 |
|
|
|
151,200 |
|
UGI Corp. |
|
|
3,386,880 |
|
|
|
182,200 |
|
Vectren Corp. |
|
|
4,868,384 |
|
|
|
149,000 |
|
WGL Holdings, Inc. |
|
|
4,383,580 |
|
|
|
72,800 |
|
WPS Resources Corp. |
|
|
3,639,272 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Energy |
|
|
66,936,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Institutions—42.3% |
|
|
|
|
|
|
73,900 |
|
Alfa Corp. |
|
|
1,244,476 |
|
|
|
115,500 |
|
Arthur J. Gallagher & Co. |
|
|
3,169,320 |
|
|
|
249,515 |
|
Associated Banc-Corp. |
|
|
8,438,597 |
|
|
|
180,473 |
|
Bancorpsouth, Inc. |
|
|
4,625,523 |
|
|
|
64,500 |
|
Bank of Hawaii Corp. |
|
|
3,502,995 |
|
|
|
55,679 |
|
Chemical Financial Corp. |
|
|
1,620,816 |
|
|
|
190,842 |
|
Cincinnati Financial Corp. |
|
|
8,137,503 |
|
|
|
181,100 |
|
Compass Bancshares, Inc. |
|
|
9,953,256 |
|
|
|
212,200 |
|
Fidelity National Financial, Inc. |
|
|
8,908,156 |
|
|
|
37,135 |
|
Fidelity National Title Group, Inc. |
|
|
804,344 |
|
|
|
84,400 |
|
First Charter Corp. |
|
|
2,006,188 |
|
|
|
186,000 |
|
First Commonwealth Financial Corp. |
|
|
2,488,680 |
|
|
|
61,000 |
|
First Financial Holdings, Inc. |
|
|
1,944,070 |
|
|
|
80,500 |
|
First Merchants Corp. |
|
|
2,006,060 |
|
|
|
174,400 |
|
FirstMerit Corp. |
|
|
4,288,496 |
|
|
|
140,000 |
|
FNB Corp. |
|
|
2,349,200 |
|
|
|
232,500 |
|
Fulton Financial Corp. |
|
|
3,824,625 |
|
|
|
100,900 |
|
Harleysville Group, Inc. |
|
|
3,027,000 |
|
|
|
333,203 |
|
Lincoln National Corp. |
|
|
19,352,430 |
|
|
|
72,800 |
|
MBIA, Inc. |
|
|
4,341,064 |
|
See Notes to Financial Statements.
37
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Strategic Dividend AchieversTM Trust (BDT) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
Financial Institutions—(cont’d) |
|
|
|
|
|
|
232,200 |
|
Mercantile Bankshares Corp. |
|
$ |
8,726,076 |
|
|
|
73,600 |
|
Mercury General Corp. |
|
|
3,928,032 |
|
|
|
204,045 |
|
Old National Bancorp |
|
|
4,211,489 |
|
|
|
378,625 |
|
Old Republic Intl. Group |
|
|
8,424,406 |
|
|
|
38,805 |
|
Park National Corp. |
|
|
3,892,142 |
|
|
|
278,750 |
|
People’s Bank |
|
|
9,129,062 |
|
|
|
295,000 |
|
Popular, Inc. |
|
|
6,100,600 |
|
|
|
163,834 |
|
Republic Bancorp, Inc. |
|
|
1,879,176 |
|
|
|
59,800 |
|
S&T Bancorp, Inc. |
|
|
2,123,498 |
|
|
|
142,800 |
|
Sky Financial Group, Inc. |
|
|
3,691,380 |
|
|
|
96,600 |
|
Sterling Bancorp |
|
|
2,018,940 |
|
|
|
875 |
|
Sterling Financial Corp. |
|
|
18,244 |
|
|
|
78,900 |
|
Susquehanna Bancshares, Inc. |
|
|
1,883,343 |
|
|
|
150,000 |
|
TCF Financial Corp. |
|
|
4,029,000 |
|
|
|
150,354 |
|
TD Banknorth, Inc. |
|
|
4,464,010 |
|
|
|
98,400 |
|
United Bankshares, Inc. |
|
|
3,589,632 |
|
|
|
166,791 |
|
Valley National Bancorp |
|
|
4,343,238 |
|
|
|
161,810 |
|
Washington Federal, Inc. |
|
|
3,870,495 |
|
|
|
68,400 |
|
WesBanco, Inc. |
|
|
2,122,452 |
|
|
|
112,200 |
|
Wilmington Trust Corp. |
|
|
4,970,460 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Financial Institutions |
|
|
179,448,474 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care—1.0% |
|
|
|
|
|
|
80,000 |
|
Hillenbrand Industries, Inc. |
|
|
4,108,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrials—10.8% |
|
|
|
|
|
|
60,000 |
|
AO Smith Corp. |
|
|
2,845,200 |
|
|
|
46,300 |
|
Bandag, Inc. |
|
|
1,857,556 |
|
|
|
146,500 |
|
Bemis Co. |
|
|
4,608,890 |
|
|
|
206,400 |
|
Leggett & Platt, Inc. |
|
|
5,475,792 |
|
|
|
162,000 |
|
LSI Industries, Inc. |
|
|
2,707,020 |
|
|
|
109,800 |
|
McGrath Rentcorp |
|
|
2,952,522 |
|
|
|
166,600 |
|
RR Donnelley & Sons Co. |
|
|
5,612,754 |
|
|
|
312,000 |
|
ServiceMaster Co. (The) |
|
|
3,756,480 |
|
|
|
127,600 |
|
Vulcan Materials |
|
|
10,840,896 |
|
|
|
67,400 |
|
WW Grainger, Inc. |
|
|
5,184,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Industrials |
|
|
45,841,518 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate—9.9% |
|
|
|
|
|
|
79,000 |
|
Colonial Properties Trust (REIT) |
|
|
3,889,960 |
|
|
|
168,900 |
|
Commercial Net Lease Realty (REIT) |
|
|
3,555,345 |
|
|
|
80,500 |
|
EastGroup Properties, Inc. (REIT) |
|
|
3,595,935 |
|
|
|
97,300 |
|
Health Care Property Investors, Inc. (REIT) |
|
|
2,667,966 |
|
|
|
63,600 |
|
Healthcare Realty Trust, Inc. (REIT) |
|
|
2,408,532 |
|
|
|
77,000 |
|
Kimco Realty Corp. (REIT) |
|
|
2,859,010 |
|
|
|
132,000 |
|
Lexington Corporate Properties Trust (REIT) |
|
|
2,845,920 |
|
|
|
86,500 |
|
Sun Communities, Inc. (REIT) |
|
|
2,815,575 |
|
|
|
122,800 |
|
Tanger Factory Outlet Centers (REIT) |
|
|
4,025,384 |
|
|
|
128,900 |
|
United Dominion Realty Trust, Inc. (REIT) |
|
|
3,504,791 |
|
|
|
105,100 |
|
Universal Health Realty Income Trust (REIT) |
|
|
3,380,016 |
|
|
|
81,400 |
|
Washington Real Estate Investment Trust (REIT) |
|
|
3,033,778 |
|
|
|
81,150 |
|
Weingarten Realty Investors (REIT) |
|
|
3,198,122 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate |
|
|
41,780,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks (cost $369,616,410) |
|
|
419,442,390 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
38
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock Strategic Dividend AchieversTM Trust (BDT) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MONEY MARKET FUND—1.0% |
|
|
|
|
|
|
4,274,320 |
|
Fidelity Institutional Money Market Prime Portfolio (cost $4,274,320) |
|
$ |
4,274,320 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments—100.0% (cost $373,890,7311) |
|
$ |
423,716,710 |
|
|
|
|
|
Other assets in excess of liabilities—0.0% |
|
|
206,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
$ |
423,923,703 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Cost for federal income tax purposes is $373,252,056. The net unrealized appreciation on a tax basis is $50,464,654, consisting of $58,106,942 gross unrealized appreciation and $7,642,288 gross unrealized depreciation. |
|
|
|
|
A category may contain multiple industries as defined by the SEC’s Standard Industry Codes. |
|
|
|
|
KEY TO ABBREVIATIONS |
See Notes to Financial Statements.
39
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock World Investment Trust (BWC)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM INVESTMENTS—95.1% |
|
|
|
|
|
|
|
|
Common Stocks—94.2% |
|
|
|
|
|
|
|
|
Australia—3.3% |
|
|
|
|
|
|
1,242,600 |
|
Foster’s Group Ltd. |
|
$ |
5,551,115 |
|
|
|
904,800 |
|
Lion Nathan Ltd. |
|
|
5,719,360 |
|
|
|
285,000 |
|
Publishing & Broadcasting Ltd. |
|
|
4,020,946 |
|
|
|
373,900 |
|
QBE Insurance Group Ltd. |
|
|
6,357,510 |
|
|
|
310,800 |
|
St. George Bank Ltd. |
|
|
7,284,633 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Australia |
|
|
28,933,564 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Belgium—0.6% |
|
|
|
|
|
|
30,800 |
|
Umicore |
|
|
4,911,587 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bermuda—1.6% |
|
|
|
|
|
|
126,200 |
|
Accenture Ltd. |
|
|
3,668,634 |
|
|
|
137,900 |
|
Ingersoll-Rand Co. Ltd. |
|
|
6,033,125 |
|
|
|
73,100 |
1 |
Marvell Technology Group Ltd. |
|
|
4,173,279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Bermuda |
|
|
13,875,038 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil—2.4% |
|
|
|
|
|
|
136,700 |
2 |
Cia Vale do Rio Doce (ADR) |
|
|
7,042,784 |
|
|
|
260,100 |
2 |
Gerdau SA (ADR) |
|
|
4,499,730 |
|
|
|
100,000 |
|
Petroleo Brasileiro SA (ADR) |
|
|
9,883,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Brazil |
|
|
21,425,514 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canada—1.7% |
|
|
|
|
|
|
130,300 |
|
Barrick Gold Corp. |
|
|
3,962,434 |
|
|
|
58,800 |
|
Canadian Imperial Bank of Commerce |
|
|
4,351,952 |
|
|
|
95,000 |
|
Teck Cominco Ltd., Class B |
|
|
6,549,439 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Canada |
|
|
14,863,825 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
China—1.3% |
|
|
|
|
|
|
104,000 |
2 |
PetroChina Co. Ltd. (ADR) |
|
|
11,689,600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denmark—1.0% |
|
|
|
|
|
|
213,500 |
|
Danske Bank A/S |
|
|
8,493,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finland—2.5% |
|
|
|
|
|
|
158,115 |
|
Fortum Oyj |
|
|
3,993,569 |
|
|
|
125,900 |
|
Metso Oyj |
|
|
5,003,343 |
|
|
|
144,000 |
|
Rautaruukki Oyj |
|
|
5,050,464 |
|
|
|
192,800 |
|
Wartsila Oyj |
|
|
8,216,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Finland |
|
|
22,263,949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
France—1.7% |
|
|
|
|
|
|
109,800 |
|
Bouygues |
|
|
5,991,181 |
|
|
|
58,100 |
|
Societe Generale |
|
|
8,876,552 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total France |
|
|
14,867,733 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Germany—5.0% |
|
|
|
|
|
|
62,800 |
|
Deutsche Bank AG |
|
|
7,680,450 |
|
|
|
377,200 |
|
Deutsche Lufthansa AG |
|
|
6,943,061 |
|
|
|
55,800 |
|
E.On AG |
|
|
6,839,133 |
|
|
|
115,400 |
|
Man AG |
|
|
8,747,012 |
|
|
|
76,800 |
|
RWE AG |
|
|
6,657,408 |
|
|
|
204,481 |
|
ThyssenKrupp AG |
|
|
6,740,877 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Germany |
|
|
43,607,941 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Greece—0.6% |
|
|
|
|
|
|
169,600 |
|
Piraeus Bank SA |
|
|
5,344,933 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hong Kong—3.3% |
|
|
|
|
|
|
13,157,000 |
|
CNOOC Ltd. |
|
|
10,605,968 |
|
|
|
10,699,000 |
|
Guangdong Investment Ltd. |
|
|
4,484,768 |
|
|
|
1,227,000 |
|
Hong Kong Exchanges & Clearing Ltd. |
|
|
8,822,727 |
|
|
|
2,563,000 |
|
New World Development Ltd. |
|
|
4,594,908 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Hong Kong |
|
|
28,508,371 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
40
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock World Investment Trust (BWC) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
Italy—4.5% |
|
|
|
|
|
|
397,600 |
|
Credito Emiliano SpA |
|
$ |
5,537,828 |
|
|
|
461,100 |
|
ENI SpA |
|
|
14,077,791 |
|
|
|
124 |
1 |
Fondiaria-Sai SpA |
|
|
4,340,648 |
|
|
|
547,300 |
|
Milano Assicurazioni SpA |
|
|
4,222,269 |
|
|
|
831,900 |
|
Unicredito Italiano SpA |
|
|
6,265,698 |
|
|
|
1,558,000 |
|
Unipol SpA |
|
|
4,614,207 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Italy |
|
|
39,058,441 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Japan—16.7% |
|
|
|
|
|
|
118,200 |
|
Aisin Seiki Co. Ltd. |
|
|
4,442,946 |
|
|
|
898,000 |
|
Bank of Yokohama Ltd. (The) |
|
|
7,042,673 |
|
|
|
109,200 |
|
Daito Trust Construction Co. Ltd. |
|
|
5,677,460 |
|
|
|
129,000 |
|
Denso Corp. |
|
|
5,064,155 |
|
|
|
68,100 |
|
Fanuc Ltd. |
|
|
6,441,286 |
|
|
|
73,900 |
|
Fast Retailing Co. Ltd. |
|
|
7,022,333 |
|
|
|
265,400 |
|
Hitachi Construction Machinery Co. Ltd. |
|
|
7,248,882 |
|
|
|
121,400 |
|
Honda Motor Co. Ltd. |
|
|
8,625,355 |
|
|
|
251,700 |
|
Isetan Co. Ltd. |
|
|
5,161,547 |
|
|
|
2,010,000 |
|
Kawasaki Heavy Industries Ltd. |
|
|
7,290,476 |
|
|
|
639,000 |
|
Kubota Corp. |
|
|
7,222,527 |
|
|
|
163,600 |
|
Maruichi Steel Tube Ltd. |
|
|
4,030,194 |
|
|
|
1,427,000 |
|
Mitsubishi Heavy Industries Ltd. |
|
|
7,068,265 |
|
|
|
585 |
|
Mitsubishi UFJ Financial Group, Inc. |
|
|
9,196,417 |
|
|
|
1,095 |
|
Mizuho Financial Group, Inc. |
|
|
9,337,768 |
|
|
|
973,000 |
|
Nippon Steel Corp. |
|
|
3,588,987 |
|
|
|
492,000 |
|
Obayashi Corp. |
|
|
3,763,509 |
|
|
|
26,170 |
|
ORIX Corp. |
|
|
7,860,308 |
|
|
|
303,600 |
|
OSG Corp. |
|
|
6,439,152 |
|
|
|
506,000 |
|
Shimizu Corp. |
|
|
3,501,761 |
|
|
|
412,900 |
|
Sumitomo Heavy Industries Ltd. |
|
|
4,351,469 |
|
|
|
1,002,000 |
|
Sumitomo Metal Industries Ltd. |
|
|
4,223,949 |
|
|
|
775 |
|
Sumitomo Mitsui Financial Group, Inc. |
|
|
8,507,882 |
|
|
|
755,000 |
|
Taisei Corp. |
|
|
3,375,005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Japan |
|
|
146,484,306 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico—3.0% |
|
|
|
|
|
|
265,000 |
2 |
America Movil SA de CV (ADR) |
|
|
9,781,150 |
|
|
|
649,100 |
1 |
Cemex SA de CV |
|
|
4,389,892 |
|
|
|
1,236,000 |
|
Grupo Mexico SA de CV |
|
|
4,333,120 |
|
|
|
1,879,000 |
|
Grupo Televisa SA |
|
|
7,996,467 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Mexico |
|
|
26,500,629 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Netherlands—4.6% |
|
|
|
|
|
|
200,000 |
|
ABN Amro Holding NV |
|
|
5,977,493 |
|
|
|
67,000 |
|
Akzo Nobel NV |
|
|
3,857,842 |
|
|
|
99,700 |
|
European Aeronautic Defence and Space Co. NV |
|
|
3,934,467 |
|
|
|
226,000 |
|
ING Groep NV |
|
|
9,198,072 |
|
|
|
60,100 |
|
Rodamco Europe NV |
|
|
6,467,665 |
|
|
|
50,300 |
|
SBM Offshore NV |
|
|
5,397,173 |
|
|
|
77,700 |
|
Unilever NV |
|
|
5,612,037 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Netherlands |
|
|
40,444,749 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Norway—3.2% |
|
|
|
|
|
|
61,900 |
|
Norsk Hydro ASA |
|
|
9,528,174 |
|
|
|
97,300 |
|
Orkla ASA |
|
|
5,121,302 |
|
|
|
305,800 |
|
Statoil ASA |
|
|
10,069,000 |
|
|
|
221,900 |
|
Yara Intl. ASA |
|
|
3,572,240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Norway |
|
|
28,290,716 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Russia—0.5% |
|
|
|
|
|
|
120,000 |
1 |
Mobile Telesystems OJSC (ADR) |
|
|
3,919,200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Singapore—0.9% |
|
|
|
|
|
|
2,580,000 |
|
CapitaLand Ltd. |
|
|
7,996,711 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
41
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock World Investment Trust (BWC) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
South Africa—0.9% |
|
|
|
|
|
|
430,000 |
|
Foschini Ltd. |
|
$ |
4,355,426 |
|
|
|
675,000 |
|
Truworths Intl. Ltd. |
|
|
3,255,717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total South Africa |
|
|
7,611,143 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Spain—1.3% |
|
|
|
|
|
|
88,400 |
|
Fomento de Construcciones y Contratas SA |
|
|
7,171,125 |
|
|
|
162,700 |
|
Gestevision Telecinco SA |
|
|
4,156,584 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Spain |
|
|
11,327,709 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sweden—8.0% |
|
|
|
|
|
|
227,400 |
|
Alfa Laval AB |
|
|
7,400,674 |
|
|
|
356,500 |
|
Assa Abloy AB |
|
|
6,903,188 |
|
|
|
336,700 |
|
Atlas Copco AB |
|
|
9,951,251 |
|
|
|
238,000 |
|
D. Carnegie AB |
|
|
5,287,739 |
|
|
|
156,500 |
|
Hennes & Mauritz AB |
|
|
5,943,899 |
|
|
|
350,000 |
|
Nordea Bank AB |
|
|
4,506,326 |
|
|
|
158,600 |
|
Oriflame Cosmetics SA (ADR) |
|
|
6,002,106 |
|
|
|
137,800 |
|
Sandvik AB |
|
|
8,969,330 |
|
|
|
508,300 |
|
Skanska AB |
|
|
8,806,546 |
|
|
|
98,756 |
|
SSAB Svenskt Stal AB Ser. A |
|
|
5,824,096 |
|
|
|
4,900 |
|
SSAB Svenskt Stal AB Ser. B |
|
|
267,003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Sweden |
|
|
69,862,158 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Switzerland—1.9% |
|
|
|
|
|
|
17,800 |
|
Nestle SA |
|
|
5,428,842 |
|
|
|
36,100 |
|
Roche Holding AG |
|
|
5,550,936 |
|
|
|
47,500 |
|
UBS AG |
|
|
5,630,140 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Switzerland |
|
|
16,609,918 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thailand—0.9% |
|
|
|
|
|
|
1,478,400 |
|
Advanced Info Service PCL |
|
|
3,486,235 |
|
|
|
13,592,000 |
3 |
Krung Thai Bank PCL |
|
|
4,454,612 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Thailand |
|
|
7,940,847 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United Kingdom—11.1% |
|
|
|
|
|
|
554,700 |
|
Arriva PLC |
|
|
5,861,787 |
|
|
|
555,200 |
|
BAE Systems PLC |
|
|
4,226,923 |
|
|
|
993,400 |
|
BP PLC |
|
|
12,254,916 |
|
|
|
939,000 |
|
Cobham PLC |
|
|
3,172,066 |
|
|
|
360,500 |
|
Diageo PLC |
|
|
5,949,387 |
|
|
|
400,600 |
|
Exam PLC |
|
|
3,981,309 |
|
|
|
337,700 |
|
Hanson PLC |
|
|
4,510,836 |
|
|
|
695,300 |
|
IMI PLC |
|
|
7,132,030 |
|
|
|
423,900 |
|
Kelda Group PLC |
|
|
5,936,672 |
|
|
|
2,000,000 |
|
Legal & General Group PLC |
|
|
5,051,242 |
|
|
|
365,800 |
|
National Express Group PLC |
|
|
5,973,484 |
|
|
|
2,049,300 |
|
Old Mutual PLC |
|
|
7,184,396 |
|
|
|
387,000 |
|
Pilkington PLC |
|
|
1,148,551 |
|
|
|
332,800 |
|
Royal Dutch Shell PLC |
|
|
11,900,886 |
|
|
|
104,600 |
|
Sabmiller, Inc. |
|
|
2,206,904 |
|
|
|
477,500 |
|
United Utilities PLC |
|
|
5,842,709 |
|
|
|
300,600 |
|
Viridian Group PLC |
|
|
5,270,559 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United Kingdom |
|
|
97,604,657 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States—11.7% |
|
|
|
|
|
|
532,400 |
2 |
Alaska Communications Systems Group, Inc. |
|
|
6,713,564 |
|
|
|
120,100 |
|
Alliance Bernstein Holdings LP |
|
|
7,740,445 |
|
|
|
95,800 |
|
Altria Group, Inc. |
|
|
7,008,728 |
|
|
|
45,200 |
2 |
Arch Coal, Inc. |
|
|
4,293,548 |
|
|
|
201,700 |
|
Archer-Daniels-Midland Co. |
|
|
7,329,778 |
|
|
|
119,800 |
2 |
Consolidated Edison, Inc. |
|
|
5,165,776 |
|
|
|
144,200 |
2 |
Equitable Resources, Inc. |
|
|
5,120,542 |
|
|
|
10,700 |
1 |
Google, Inc. |
|
|
4,471,958 |
|
See Notes to Financial Statements.
42
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock World Investment Trust (BWC) (continued)
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks—(cont’d) |
|
|
|
|
|
|
|
|
United States—(cont’d) |
|
|
|
|
|
|
149,700 |
2 |
Intersil Corp. |
|
$ |
4,432,617 |
|
|
|
180,000 |
|
McDonald’s Corp. |
|
|
6,222,600 |
|
|
|
104,500 |
|
Newmont Mining Corp. |
|
|
6,098,620 |
|
|
|
42,600 |
2 |
Nike, Inc. |
|
|
3,486,384 |
|
|
|
177,500 |
|
PPL Corp. |
|
|
5,154,600 |
|
|
|
127,100 |
|
Progress Energy, Inc. |
|
|
5,439,880 |
|
|
|
83,300 |
|
Reynolds American, Inc. |
|
|
9,133,845 |
|
|
|
86,700 |
|
Sempra Energy |
|
|
3,989,934 |
|
|
|
190,000 |
|
Strategic Hotels & Resorts, Inc. |
|
|
4,309,200 |
|
|
|
146,100 |
|
UST, Inc. |
|
|
6,418,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total United States |
|
|
102,530,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
824,967,073 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal |
|
|
|
|
|
|
|
|
Amount |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bond—0.7% |
|
|
|
|
|
$ |
10,000,000 |
|
General Electric Capital Corp. 6.25%, 2/4/10 |
|
|
6,371,957 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign Government Bonds—0.2% |
|
|
|
|
|
|
|
|
Mexico—0.2% |
|
|
|
|
|
|
|
|
Mexican Bonos, |
|
|
|
|
|
|
13,290,000 |
|
9.00%, 12/22/11 (MXN) |
|
|
1,235,937 |
|
|
|
4,860,000 |
|
8.00%, 12/19/13 (MXN) |
|
|
426,301 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Foreign Government Bonds |
|
|
1,662,238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Long-Term Investments (cost $753,644,752) |
|
|
833,001,268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENTS—4.5% |
|
|
|
|
|
|
|
|
Money Market Fund—3.0% |
|
|
|
|
|
|
26,556,483 |
|
Fidelity Institutional Money Market Prime Portfolio |
|
|
26,556,483 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal |
|
|
|
|
|
|
|
|
Amount |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government and Agency Zero Coupon Bond—1.5% |
|
|
|
|
|
|
$13,400,000 |
4 |
Federal Home Loan Bank Discount Notes, 4.71%, 5/01/06 |
|
|
13,400,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments (cost $39,956,483) |
|
|
39,956,483 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments before outstanding options written (cost $793,601,2355) |
|
|
872,957,751 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING OPTIONS WRITTEN—(1.3)% |
|
|
|
|
|
|
|
|
OUTSTANDING PUT OPTIONS WRITTEN—0.0% |
|
|
|
|
|
|
(500) |
|
Mobile Telesystems (ADR), strike price $32, expires 05/26/06 |
|
|
(67,000 |
) |
|
|
(254,000) |
|
Sabmiller, Inc., strike price 10.83 GBP, expires 05/31/06 |
|
|
(25,290 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Outstanding Put Options Written (premium received ($123,094) |
|
|
(92,290 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(1.3)% |
|
|
|
|
|
|
(600) |
|
Accenture Ltd., strike price $30.50, expires 06/09/06 |
|
|
(23,400 |
) |
|
|
(51,200) |
|
Aisin Seiki Co. Ltd., strike price 4,791 JPY, expires 06/07/06 |
|
|
(18,768 |
) |
|
|
(29,500) |
|
Akzo Nobel NV, strike price 48.02 EUR, expires 06/28/06 |
|
|
(31,929 |
) |
|
|
(221,600) |
|
Alaska Communications Systems Group, Inc., strike price $12, expires 05/19/06 |
|
|
(148,250 |
) |
|
|
(178,800) |
|
Alaska Communications Systems Group, Inc., strike price $12.39, expires 06/02/06 |
|
|
(75,096 |
) |
|
|
(43,100) |
|
Alfa Laval AB, strike price 199.96 SEK, expires 05/16/06 |
|
|
(232,836 |
) |
|
|
(54,700) |
|
Alfa Laval AB, strike price 222.77 SEK, expires 06/28/06 |
|
|
(157,086 |
) |
|
|
(91) |
|
Alliance Bernstein Holdings LP, strike price $65, expires 05/20/06 |
|
|
(7,280 |
) |
|
|
(33,300) |
|
Alliance Bernstein Holdings LP, strike price $72.50, expires 06/16/06 |
|
|
(3,197 |
) |
|
|
(45,000) |
|
Altria Group, Inc., strike price $76, expires 06/16/06 |
|
|
(45,270 |
) |
|
|
(79,300) |
|
America Movil SA de CV (ADR), strike price $35, expires 06/16/06 |
|
|
(240,358 |
) |
|
|
(44,500) |
|
America Movil SA de CV (ADR), strike price $38, expires 05/19/06 |
|
|
(37,780 |
) |
See Notes to Financial Statements.
43
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock World Investment Trust (BWC) (continued)
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(180) |
|
Arch Coal, Inc., strike price $80, expires 05/20/06 |
|
$ |
(295,200 |
) |
|
|
(324) |
|
Archer-Daniels-Midland Co., strike price $35, expires 05/20/06 |
|
|
(74,520 |
) |
|
|
(410) |
|
Archer-Daniels-Midland Co., strike price $40, expires 06/17/06 |
|
|
(36,900 |
) |
|
|
(250,000) |
|
Arriva PLC, strike price 6 GBP, expires 06/28/06 |
|
|
(43,989 |
) |
|
|
(168,800) |
|
Assa Abloy AB, strike price 141.95 SEK, expires 05/31/06 |
|
|
(104,059 |
) |
|
|
(25,800) |
|
Atlas Copco AB, strike price 212.76 SEK, expires 05/31/06 |
|
|
(35,839 |
) |
|
|
(125,800) |
|
Atlas Copco AB, strike price 225.00 SEK, expires 06/28/06 |
|
|
(126,772 |
) |
|
|
(220,000) |
|
BAE Systems PLC, strike price 4.33 GBP, expires 06/28/06 |
|
|
(4 |
) |
|
|
(100,000) |
|
Bank of Yokohama Ltd. (The), strike price 951.72 JPY, expires 06/07/06 |
|
|
(10,961 |
) |
|
|
(400) |
|
Barrick Gold Corp., strike price 32 CAD, expires 05/20/06 |
|
|
(91,230 |
) |
|
|
(350) |
|
Barrick Gold Corp., strike price 34 CAD, expires 05/20/06 |
|
|
(37,565 |
) |
|
|
(47,000) |
|
Bouygues, strike price 45.15 EUR, expires 05/16/06 |
|
|
(8,243 |
) |
|
|
(418) |
|
BP PLC, strike price 750 GBP, expires 06/16/06 |
|
|
(251,541 |
) |
|
|
(541) |
|
Canadian Imperial Bank of Commerce, strike price 85 CAD, expires 05/20/06 |
|
|
(21,775 |
) |
|
|
(47) |
|
Canadian Imperial Bank of Commerce, strike price 85 CAD, expires 06/17/06 |
|
|
(3,783 |
) |
|
|
(1,065,000) |
|
Capitaland Ltd., strike price 4.97 SGD, expires 06/27/06 |
|
|
(83,494 |
) |
|
|
(218,000) |
|
Cemex SA de CV, strike price 72.65 MXN, expires 06/13/06 |
|
|
(56,768 |
) |
|
|
(200,000) |
|
Cemex SA de CV, strike price 76.52 MXN, expires 07/07/06 |
|
|
(31,514 |
) |
|
|
(600) |
|
Cia Vale Do Rio Doce (ADR), strike price $50, expires 05/20/06 |
|
|
(156,000 |
) |
|
|
(400) |
|
Cia Vale Do Rio Doce (ADR), strike price $50, expires 06/17/06 |
|
|
(140,000 |
) |
|
|
(3,610,000) |
|
CNOOC Ltd., strike price 6.92 HKD, expires 05/24/06 |
|
|
(5,215 |
) |
|
|
(180,000) |
|
Cobham PLC, strike price 1.89 GBP, expires 06/28/06 |
|
|
(19,836 |
) |
|
|
(285,700) |
|
Cobham PLC, strike price 1.94 GBP, expires 06/28/06 |
|
|
(22,715 |
) |
|
|
(750) |
|
Consolidated Edison, Inc., strike price $45, expires 06/02/06 |
|
|
(6,750 |
) |
|
|
(159,000) |
|
Credito Emiliano SpA, strike price 11.53 EUR, expires 06/09/06 |
|
|
(20,617 |
) |
|
|
(47,600) |
|
D. Carnegie AB, strike price 154.58 SEK, expires 05/31/06 |
|
|
(74,680 |
) |
|
|
(50,600) |
|
D. Carnegie AB, strike price 182.70 SEK, expires 06/28/06 |
|
|
(29,046 |
) |
|
|
(42,000) |
|
Daito Trust Construction Co. Ltd., strike price 6,280.72 JPY, expires 06/07/06 |
|
|
(44,978 |
) |
|
|
(88,600) |
|
Danske Bank A/S, strike price 238.95 DKK, expires 06/28/06 |
|
|
(71,567 |
) |
|
|
(57,000) |
|
Denso Corp., strike price 4631.15 JPY, expires 05/30/06 |
|
|
(36,703 |
) |
|
|
(314) |
|
Deutsche Bank AG, strike price 96 EUR, expires 05/19/06 |
|
|
(112,505 |
) |
|
|
(158,000) |
|
Deutsche Lufthansa AG, strike price 13.78 EUR, expires 05/16/06 |
|
|
(178,161 |
) |
|
|
(18,300) |
|
Deutsche Lufthansa AG, strike price 14.60 EUR, expires 05/31/06 |
|
|
(4,299 |
) |
|
|
(159,000) |
|
Diageo PLC, strike price 8.89 GBP, expires 05/16/06 |
|
|
(66,337 |
) |
|
|
(35,000) |
|
E.On AG, strike price 94.72 EUR, expires 06/28/06 |
|
|
(71,441 |
) |
|
|
(43,000) |
|
Eads, strike price 32.33 EUR, expires 06/28/06 |
|
|
(39,953 |
) |
|
|
(28,000) |
|
ENI SpA, strike price 23.65 EUR, expires 05/31/06 |
|
|
(29,845 |
) |
|
|
(202,000) |
|
ENI SpA, strike price 24.90 EUR, expires 06/28/06 |
|
|
(58,321 |
) |
|
|
(475) |
3 |
Equitable Resources, Inc., strike price $40, expires 06/17/06 |
|
|
(7,125 |
) |
|
|
(19,000) |
|
Fanuc Ltd., strike price 11,783.14 JPY, expires 06/07/06 |
|
|
(23,723 |
) |
|
|
(20,500) |
|
Fast Retailing Co. Ltd., strike price 12,060.12 JPY, expires 06/07/06 |
|
|
(59,300 |
) |
|
|
(33,600) |
|
Fomento de Construcciones y Contratas SA, strike price 65.44 EUR, expires 06/28/06 |
|
|
(84,004 |
) |
|
|
(64,000) |
|
Fondiaria-Sai SpA, strike price 32.90 EUR, expires 06/28/06 |
|
|
(48,941 |
) |
|
|
(33,300) |
|
Fortum Oyj, strike price 20.50 EUR, expires 05/31/06 |
|
|
(18,278 |
) |
|
|
(215,000) |
|
Foschini Ltd., strike price 60 ZAR, expires 06/28/06 |
|
|
(135,400 |
) |
|
|
(575,000) |
|
Foster’s Group Ltd., strike price 5.59 AUD, expires 06/21/06 |
|
|
(160,327 |
) |
|
|
(400) |
|
Gerdau SA (ADR), strike price $16.62, expires 05/20/06 |
|
|
(60,000 |
) |
|
|
(270) |
|
Gerdau SA (ADR), strike price $17.50, expires 06/17/06 |
|
|
(22,275 |
) |
|
|
(81,250) |
|
Gestevision Telecinco SA, strike price 21.26 EUR, expires 06/28/06 |
|
|
(51,142 |
) |
|
|
(30) |
|
Google, Inc., strike price $410, expires 05/20/06 |
|
|
(60,900 |
) |
|
|
(50) |
|
Google, Inc., strike price $420, expires 05/20/06 |
|
|
(73,500 |
) |
|
|
(27) |
|
Google, Inc., strike price $470, expires 06/17/06 |
|
|
(18,090 |
) |
|
|
(200,000) |
|
Grupo Mexico SA de CV, strike price 38.70 MXN, expires 07/07/06 |
|
|
(34,631 |
) |
|
|
(782,000) |
|
Grupo Televisa SA, strike price 49.04 MXN, expires 07/07/06 |
|
|
(66,785 |
) |
|
|
(4,150,000) |
|
Guangdong Investments Ltd., strike price 3.82 HKD, expires 06/27/06 |
|
|
(16,914 |
) |
|
|
(132,900) |
|
Hanson PLC, strike price 7.79 GBP, expires 06/28/06 |
|
|
(44,229 |
) |
|
|
(67,000) |
|
Hennes & Mauritz AB, strike price 294.86 SEK, expires 05/16/06 |
|
|
(3,105 |
) |
|
|
(75,000) |
|
Hitachi Construction Machinery Co. Ltd., strike price 3,244.19 JPY, expires 06/07/06 |
|
|
(95,558 |
) |
|
|
(34,000) |
|
Honda Motor Co. Ltd., strike price 7,615.07 JPY, expires 06/07/06 |
|
|
(165,120 |
) |
|
|
(594,000) |
|
Hong Kong Exchanges & Clearing Ltd., strike price 42.29 HKD, expires 05/24/06 |
|
|
(1,041,449 |
) |
|
|
(170) |
|
IHC Caland NV, strike price 86 EUR, expires 05/19/06 |
|
|
(35,388 |
) |
|
|
(358,900) |
|
IMI PLC, strike price 24.90 GBP, expires 06/28/06 |
|
|
(67,476 |
) |
|
|
(985) |
|
Ing Groep NV, strike price 33 EUR, expires 06/16/06 |
|
|
(74,561 |
) |
See Notes to Financial Statements.
44
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock World Investment Trust (BWC) (continued)
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d ) |
|
|
|
|
|
|
(750) |
|
Ingersoll-Rand Co. Ltd., strike price $42.50, expires 06/17/06 |
|
$ |
(161,250 |
) |
|
|
(700) |
|
Intersil Corp., strike price $28, expires 05/08/06 |
|
|
(119,000 |
) |
|
|
(790) |
|
Intersil Corp., strike price $30, expires 06/17/06 |
|
|
(88,875 |
) |
|
|
(117,500) |
|
Isetan Co. Ltd., strike price 2,699.34 JPY, expires 06/07/06 |
|
|
(21,772 |
) |
|
|
(233,000) |
|
Kawasaki Heavy Industries Ltd., strike price 424.72 JPY, expires 05/30/06 |
|
|
(27,369 |
) |
|
|
(177,000) |
|
Kelda Group PLC, strike price 7.86 GBP, expires 06/28/06 |
|
|
(51,085 |
) |
|
|
(180,000) |
|
Kubota Corp., strike price 1,334.34 JPY, expires 06/07/06 |
|
|
(76,964 |
) |
|
|
(900,000) |
|
Legal & General Group PLC, strike price 1.44 GBP, expires 05/16/06 |
|
|
(25,258 |
) |
|
|
(95,300) |
|
Lion Nathan Ltd., strike price 8.15 AUD, expires 06/21/06 |
|
|
(22,083 |
) |
|
|
(242,000) |
|
Lion Nathan Ltd., strike price 8.45 AUD, expires 05/24/06 |
|
|
(24,104 |
) |
|
|
(52,500) |
|
Man AG, strike price 61.84 EUR, expires 06/28/06 |
|
|
(88,200 |
) |
|
|
(97,000) |
|
Maruichi Steel Tube Ltd., strike price 3,025.68 JPY, expires 05/30/06 |
|
|
(8,359 |
) |
|
|
(200) |
|
Marvell Technology Group Ltd., strike price $62.50, expires 06/17/06 |
|
|
(31,500 |
) |
|
|
(300) |
|
Marvell Technology Group Ltd., strike price $65, expires 05/20/06 |
|
|
(12,000 |
) |
|
|
(720) |
|
McDonald’s Corp., strike price $35, expires 05/20/06 |
|
|
(28,800 |
) |
|
|
(50,000) |
|
Metso Oyj, strike price 32.50 EUR, expires 06/28/06 |
|
|
(65,916 |
) |
|
|
(296,000) |
|
Milano Assicurazioni SpA, strike price 6.50 EUR, expires 05/16/06 |
|
|
(37 |
) |
|
|
(565,000) |
|
Mitsubishi Heavy Industries Ltd., strike price 568.66 JPY, expires 05/30/06 |
|
|
(96,107 |
) |
|
|
(350) |
|
Mitsubishi UFJ Financial Group, strike price 1,716,875 JPY, expires 05/30/06 |
|
|
(310,162 |
) |
|
|
(610) |
|
Mizuho Financial Group, Inc., strike price 948,125 JPY, expires 05/30/06 |
|
|
(235,645 |
) |
|
|
(198,900) |
|
National Express Group PLC, strike price 9.24 GBP, expires 06/28/06 |
|
|
(71,319 |
) |
|
|
(8,000) |
|
Nestle SA, strike price 389.39 CHF, expires 06/28/06 |
|
|
(28,397 |
) |
|
|
(1,000,000) |
|
New World Development Ltd., strike price 13.95 HKD, expires 05/24/06 |
|
|
(59,291 |
) |
|
|
(250) |
|
Newmont Mining Corp., strike price $55, expires 06/17/06 |
|
|
(125,000 |
) |
|
|
(160) |
|
Newmont Mining Corp., strike price $57.50, expires 05/20/06 |
|
|
(35,200 |
) |
|
|
(594,000) |
|
Nippon Steel Corp., strike price 470.83 JPY, expires 05/30/06 |
|
|
(8,162 |
) |
|
|
(140,000) |
|
Nordea Bank AB, strike price 95.19 SEK, expires 05/16/06 |
|
|
(28,470 |
) |
|
|
(23,200) |
|
Norsk Hydro ASA, strike price 1,000.87 NOK, expires 06/28/06 |
|
|
(55,536 |
) |
|
|
(4,100) |
|
Norsk Hydro ASA, strike price 903.20 NOK, expires 05/31/06 |
|
|
(31,784 |
) |
|
|
(858,600) |
|
Old Mutual PLC, strike price 2.00 GBP, expires 06/28/06 |
|
|
(48,145 |
) |
|
|
(151,900) |
|
Old Mutual PLC, strike price 2.09 GBP, expires 05/31/06 |
|
|
(1,773 |
) |
|
|
(55,200) |
|
Oriflame Cosmetics SA (ADR), strike price 289 SEK, expires 06/28/06 |
|
|
(62,799 |
) |
|
|
(9,000) |
|
Orix Corp., strike price 35,648.47 JPY, expires 05/30/06 |
|
|
(88,192 |
) |
|
|
(36,400) |
|
Orkla ASA, strike price 352.49 NOK, expires 06/28/06 |
|
|
(24,713 |
) |
|
|
(116,000) |
|
Osg Corp., strike price 2,440.83 JPY, expires 05/30/06 |
|
|
(108,680 |
) |
|
|
(80) |
|
Petrochina Co. Ltd. (ADR), strike price $120, expires 05/20/06 |
|
|
(8,000 |
) |
|
|
(285) |
|
Petrochina Co. Ltd. (ADR), strike price $120, expires 06/17/06 |
|
|
(69,825 |
) |
|
|
(476) |
|
Petroleo Brasileiro SA (ADR), strike price $90, expires 05/20/06 |
|
|
(461,720 |
) |
|
|
(387,000) |
|
Pilkington PLC, strike price 1.60 GBP, expires 05/16/06 |
|
|
(22,548 |
) |
|
|
(85,000) |
|
Piraeus Bank SA, strike price 25.52 EUR, expires 06/09/06 |
|
|
(66,970 |
) |
|
|
(17,600) |
|
Progress Energy, Inc., strike price $45.06, expires 05/19/06 |
|
|
(933 |
) |
|
|
(109,500) |
|
Progress Energy, Inc., strike price $45.25, expires 05/19/06 |
|
|
(4,270 |
) |
|
|
(171,000) |
|
Publishing & Broadcasting Ltd., strike price 17.97 AUD, expires 05/24/06 |
|
|
(106,284 |
) |
|
|
(154,500) |
|
QBE Insurance Group Ltd., strike price 23.10 AUD, expires 06/21/06 |
|
|
(57,869 |
) |
|
|
(46,500) |
|
Rautaruukki Oyj, strike price 28.71 EUR, expires 06/28/06 |
|
|
(59,046 |
) |
|
|
(38,500) |
|
Rautaruukki Oyj, strike price 29.61 EUR, expires 05/16/06 |
|
|
(176 |
) |
|
|
(169,000) |
|
Rexam PLC, strike price 5.66 GBP, expires 06/28/06 |
|
|
(17,502 |
) |
|
|
(211) |
|
Reynolds American, Inc., strike price $110, expires 05/20/06 |
|
|
(48,530 |
) |
|
|
(14,100) |
|
Reynolds American, Inc., strike price $110, expires 06/16/06 |
|
|
(44,841 |
) |
|
|
(19,500) |
|
Roche Holding AG, strike price 195.15 CHF, expires 06/28/06 |
|
|
(59,976 |
) |
|
|
(23,500) |
|
Rodamco Europe NV, strike price 86.86 EUR, expires 06/28/06 |
|
|
(81,656 |
) |
|
|
(150,000) |
|
Royal Dutch Shell PLC, strike price 20.75 GBP, expires 06/28/06 |
|
|
(54,469 |
) |
|
|
(29,000) |
|
RWE AG, strike price 72.33 EUR, expires 06/28/06 |
|
|
(45,042 |
) |
|
|
(54,300) |
|
Sandvik AB, strike price 488.74 SEK, expires 06/28/06 |
|
|
(83,667 |
) |
|
|
(58,700) |
|
Sempra Energy, strike price $46.47, expires 05/19/06 |
|
|
(39,617 |
) |
|
|
(126,000) |
|
Shimizu Corp., strike price 828.97 JPY, expires 05/30/06 |
|
|
(28,607 |
) |
|
|
(93,900) |
|
Skanska AB, strike price 133.11 SEK, expires 06/28/06 |
|
|
(32,240 |
) |
|
|
(156,000) |
|
Skanska AB, strike price 134 SEK, expires 06/28/06 |
|
|
(47,880 |
) |
|
|
(250) |
|
Societe Generale, strike price 125 EUR, expires 06/16/06 |
|
|
(59,926 |
) |
|
|
(18,739) |
|
SSAB Svenskt Stal AB, strike price 379.88 SEK, expires 05/16/06 |
|
|
(147,111 |
) |
|
|
(12,896) |
|
SSAB Svenskt Stal AB, strike price 380.97 SEK, expires 05/31/06 |
|
|
(101,788 |
) |
|
|
(27,700) |
|
SSAB Svenskt Stal AB, strike price 453.90 SEK, expires 06/28/06 |
|
|
(51,539 |
) |
See Notes to Financial Statements.
45
PORTFOLIO
OF INVESTMENTS (unaudited)
APRIL 30, 2006
BlackRock World Investment Trust (BWC) (continued)
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Description |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OUTSTANDING CALL OPTIONS WRITTEN—(cont’d) |
|
|
|
|
|
|
(202,000) |
|
St. George Bank Ltd., strike price 31.11 AUD, expires 06/21/06 |
|
$ |
(59,592 |
) |
|
|
(21,100) |
|
Statoil ASA, strike price 179 NOK, expires 06/09/06 |
|
|
(64,144 |
) |
|
|
(83,500) |
|
Statoil ASA, strike price 212.67 NOK, expires 06/28/06 |
|
|
(43,169 |
) |
|
|
(90,000) |
|
Strategic Hotels & Resorts, Inc., strike price $23.28, expires 06/09/06 |
|
|
(40,320 |
) |
|
|
(220,000) |
|
Sumitomo Heavy Industries Ltd., strike price 1,060.06 JPY, expires 05/30/06 |
|
|
(290,062 |
) |
|
|
(373,000) |
|
Sumitomo Metal Industries Ltd., strike price 521.72 JPY, expires 05/30/06 |
|
|
(18,836 |
) |
|
|
(440) |
|
Sumitomo Mitsui Financial Group, strike price 1,265,875 JPY, expires 05/30/06 |
|
|
(120,145 |
) |
|
|
(188,000) |
|
Taisei Corp., strike price 552.05 JPY, expires 05/30/06 |
|
|
(10,870 |
) |
|
|
(380) |
|
Teck Cominco Ltd., strike price 78 CAD, expires 05/20/06 |
|
|
(81,571 |
) |
|
|
(82,000) |
|
Thyssenkrupp AG, strike price 26.62 EUR, expires 06/28/06 |
|
|
(111,521 |
) |
|
|
(270,000) |
|
Truworths Intl. Ltd., strike price 27.96 ZAR, expires 06/28/06 |
|
|
(84,709 |
) |
|
|
(28,200) |
|
UBS AG, strike price 2.24 CHF, expires 06/28/06 |
|
|
(106,656 |
) |
|
|
(19,500) |
|
Umicore, strike price 123.29 EUR, expires 05/16/06 |
|
|
(118,805 |
) |
|
|
(11,300) |
|
Umicore, strike price 125.80 EUR, expires 06/28/06 |
|
|
(87,695 |
) |
|
|
(292,000) |
|
Unicredito Italiano SpA, strike price 6.09 EUR, expires 06/28/06 |
|
|
(36,913 |
) |
|
|
(35,000) |
|
Unilever NV, strike price 58.79 EUR, expires 06/28/06 |
|
|
(28,885 |
) |
|
|
(468,900) |
|
Unipol SpA, strike price 2.38 EUR, expires 06/28/06 |
|
|
(24,739 |
) |
|
|
(206,900) |
|
United Utilities PLC, strike price 6.85 GBP, expires 06/28/06 |
|
|
(17,589 |
) |
|
|
(440) |
|
UST, Inc., strike price $45, expires 06/07/06 |
|
|
(48,400 |
) |
|
|
(84,300) |
|
Viridian Group PLC, strike price $10.32, expires 05/16/06 |
|
|
(1,353 |
) |
|
|
(70,000) |
|
Viridian Group PLC, strike price 10.06 GBP, expires 06/09/06 |
|
|
(26,616 |
) |
|
|
(27,000) |
|
Viridian Group PLC, strike price 9.87 GBP, expires 06/28/06 |
|
|
(17,253 |
) |
|
|
(41,799) |
|
Wartsila Oyj, strike price 30.81 EUR, expires 05/16/06 |
|
|
(160,427 |
) |
|
|
(80,000) |
|
Yara Intl. ASA, strike price 102.51 NOK, expires 06/28/06 |
|
|
(34,213 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Outstanding Call Options Written (premium received ($9,366,711)) |
|
|
(11,701,059 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total outstanding options written (premium received ($9,489,805)) |
|
|
(11,793,349 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments net of outstanding options written—98.3% |
|
$ |
861,164,402 |
|
|
|
|
|
Other assets in excess of liabilities—1.7% |
|
|
14,501,205 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
$ |
875,665,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
1 |
Non-income producing security. |
|||
|
2 |
Security, or a portion thereof, pledged as collateral for outstanding options written. |
|||
|
3 |
Security is fair valued. |
|||
|
4 |
Rate shown is yield to maturity as of April 30, 2006. |
|||
|
5 |
Cost for federal income tax purposes is $793,978,341. The net unrealized appreciation on a tax basis is $78,979,410, consisting of $83,279,048 gross unrealized appreciation and $4,299,638 gross unrealized depreciation. |
|||
|
|
|
|
|
|
|
|
|
|
|
|
KEY TO ABBREVIATIONS |
|
|
|
||
|
|
|
|
|
|
|
||
|
ADR — American Depositary Receipts |
|
DKK — Danish Krone |
|
JPY — Japanese Yen |
|
SEK — Swedish Krona |
|
|
AUD — Australian Dollar |
|
EUR — Euro |
|
MXN — Mexican Peso |
|
SGD — Singapore Dollar |
|
|
CAD — Canadian Dollar |
|
GBP — British Pound |
|
NOK — Norwegian Krone |
|
ZAR — South African Rand |
|
|
CHF — Swiss Franc |
|
HKD — Hong Kong Dollar |
|
REIT — Real Estate Investment Trust |
|
|
|
See Notes to Financial Statements.
46
|
|
|
STATEMENTS OF ASSETS AND LIABILITIES (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividend |
|
Enhanced |
|
Global |
|
Global |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Investments at value1 |
|
$ |
817,269,316 |
|
$ |
991,931,366 |
|
$ |
958,504,820 |
|
$ |
332,290,192 |
|
||
|
Investments in affiliates |
|
|
75,861 |
|
|
15,895 |
|
|
37,568 |
|
|
7,110 |
|
||
|
Cash |
|
|
— |
|
|
— |
|
|
— |
|
|
15,346 |
|
||
|
Foreign currency at value2 |
|
|
— |
|
|
— |
|
|
65,418 |
|
|
5,643,871 |
|
||
|
Receivable for investments sold |
|
|
— |
|
|
27,119,850 |
|
|
3,907,059 |
|
|
13,926,634 |
|
||
|
Unrealized gain on foreign currency exchange contracts |
|
|
— |
|
|
— |
|
|
18,120 |
|
|
7,669 |
|
||
|
Dividend and interest receivable |
|
|
2,454,063 |
|
|
2,916,212 |
|
|
2,161,316 |
|
|
1,420,523 |
|
||
|
Other assets |
|
|
11,533 |
|
|
56,638 |
|
|
164,968 |
|
|
13,166 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
819,810,773 |
|
|
1,022,039,961 |
|
|
964,859,269 |
|
|
353,324,511 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Payable to custodian |
|
|
— |
|
|
1,005,313 |
|
|
— |
|
|
— |
|
||
|
Payable for investments purchased |
|
|
— |
|
|
13,979,710 |
|
|
5,632,099 |
|
|
8,699,493 |
|
||
|
Outstanding options written at value3 |
|
|
— |
|
|
10,978,326 |
|
|
12,390,993 |
|
|
5,010,237 |
|
||
|
Unrealized loss on foreign currency exchange contracts |
|
|
— |
|
|
— |
|
|
— |
|
|
51 |
|
||
|
Investment advisory fee payable |
|
|
428,091 |
|
|
806,324 |
|
|
908,659 |
|
|
272,417 |
|
||
|
Deferred Trustees’ fees |
|
|
75,861 |
|
|
15,895 |
|
|
37,568 |
|
|
7,110 |
|
||
|
Licensing fee payable |
|
|
264,080 |
|
|
323,656 |
|
|
— |
|
|
— |
|
||
|
Payable to affiliates |
|
|
39,357 |
|
|
20,054 |
|
|
46,794 |
|
|
12,851 |
|
||
|
Other accrued expenses |
|
|
138,823 |
|
|
229,785 |
|
|
188,563 |
|
|
129,085 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
946,212 |
|
|
27,359,063 |
|
|
19,204,676 |
|
|
14,131,244 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Net Assets |
|
$ |
818,864,561 |
|
$ |
994,680,898 |
|
$ |
945,654,593 |
|
$ |
339,193,267 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Composition of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Par value |
|
$ |
54,518 |
|
$ |
69,119 |
|
$ |
29,766 |
|
$ |
12,376 |
|
||
|
Paid-in capital in excess of par |
|
|
753,930,684 |
|
|
988,421,646 |
|
|
709,335,050 |
|
|
294,894,948 |
|
||
|
Distributions in excess of net investment income or accumulated net investment loss |
|
|
(11,882,798 |
) |
|
(27,847,504 |
) |
|
(10,153,823 |
) |
|
(10,795,941 |
) |
||
|
Accumulated net realized gain |
|
|
14,984,317 |
|
|
13,631,157 |
|
|
50,858,408 |
|
|
26,704,077 |
|
||
|
Net unrealized appreciation |
|
|
61,777,840 |
|
|
20,406,480 |
|
|
195,585,192 |
|
|
28,377,807 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Net Assets, April 30, 2006 |
|
$ |
818,864,561 |
|
$ |
994,680,898 |
|
$ |
945,654,593 |
|
$ |
339,193,267 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Net asset value per share4 |
|
$ |
15.02 |
|
$ |
14.39 |
|
$ |
31.77 |
|
$ |
27.41 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1 |
Investments at cost |
|
$ |
755,491,476 |
|
$ |
969,493,582 |
|
$ |
758,680,071 |
|
$ |
302,080,155 |
|
|
|
2 |
Foreign currency at cost |
|
|
— |
|
|
— |
|
|
64,663 |
|
|
5,597,254 |
|
|
|
3 |
Premium received |
|
|
— |
|
|
8,947,022 |
|
|
8,153,260 |
|
|
3,171,593 |
|
|
|
4 |
Shares outstanding |
|
|
54,518,315 |
|
|
69,119,387 |
|
|
29,766,217 |
|
|
12,376,932 |
|
|
See Notes to Financial Statements.
47
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health |
|
S&P |
|
Strategic |
|
World |
|
||||
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
200,222,835 |
|
$ |
105,407,636 |
|
$ |
423,716,710 |
|
$ |
872,957,751 |
|
|
|
5,718 |
|
|
28,249 |
|
|
39,610 |
|
|
38,584 |
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
— |
|
|
66,199 |
|
|
— |
|
|
32,557,199 |
|
|
|
25,047,287 |
|
|
— |
|
|
— |
|
|
33,943,194 |
|
|
|
— |
|
|
— |
|
|
— |
|
|
69,607 |
|
|
|
65,689 |
|
|
215,172 |
|
|
719,303 |
|
|
3,784,509 |
|
|
|
15,927 |
|
|
9,380 |
|
|
62,217 |
|
|
28,648 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
225,357,456 |
|
|
105,726,636 |
|
|
424,537,840 |
|
|
943,379,492 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
— |
|
|
— |
|
|
186,250 |
|
|
|
19,018,348 |
|
|
— |
|
|
— |
|
|
54,395,868 |
|
|
|
716,131 |
|
|
— |
|
|
— |
|
|
11,793,349 |
|
|
|
— |
|
|
— |
|
|
— |
|
|
374,817 |
|
|
|
171,735 |
|
|
64,061 |
|
|
260,535 |
|
|
705,256 |
|
|
|
5,718 |
|
|
28,249 |
|
|
39,610 |
|
|
38,584 |
|
|
|
— |
|
|
50,316 |
|
|
138,147 |
|
|
— |
|
|
|
11,120 |
|
|
7,902 |
|
|
40,335 |
|
|
7,135 |
|
|
|
62,786 |
|
|
64,554 |
|
|
135,510 |
|
|
212,626 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,985,838 |
|
|
215,082 |
|
|
614,137 |
|
|
67,713,885 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
205,371,618 |
|
$ |
105,511,554 |
|
$ |
423,923,703 |
|
$ |
875,665,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,505 |
|
$ |
6,033 |
|
$ |
26,908 |
|
$ |
51,920 |
|
|
|
178,795,001 |
|
|
86,129,717 |
|
|
376,494,750 |
|
|
742,511,141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6,021,881 |
) |
|
(1,550,473 |
) |
|
(5,965,121 |
) |
|
(21,883,423 |
) |
|
|
21,282,446 |
|
|
1,282,001 |
|
|
3,541,187 |
|
|
78,787,925 |
|
|
|
11,308,547 |
|
|
19,644,276 |
|
|
49,825,979 |
|
|
76,198,044 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
205,371,618 |
|
$ |
105,511,554 |
|
$ |
423,923,703 |
|
$ |
875,665,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
27.37 |
|
$ |
17.49 |
|
$ |
15.75 |
|
$ |
16.87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
189,009,116 |
|
$ |
85,767,663 |
|
$ |
373,890,731 |
|
$ |
793,601,235 |
|
|
|
— |
|
|
66,199 |
|
|
— |
|
|
32,561,135 |
|
|
|
810,959 |
|
|
— |
|
|
— |
|
|
9,489,805 |
|
|
|
7,504,817 |
|
|
6,033,028 |
|
|
26,908,028 |
|
|
51,919,893 |
|
48
|
|
|
STATEMENTS OF OPERATIONS (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividend |
|
Enhanced |
|
Global |
|
Global |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Investment Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividend income |
|
$ |
15,427,143 |
|
$ |
19,385,865 |
|
$ |
16,384,586 |
|
$ |
5,515,220 |
|
|
|
Interest income |
|
|
124,263 |
|
|
797,891 |
|
|
1,221,605 |
|
|
270,295 |
|
|
|
Foreign taxes withheld |
|
|
(1,600 |
) |
|
— |
|
|
(1,168,584 |
) |
|
(373,730 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investment income |
|
|
15,549,806 |
|
|
20,183,756 |
|
|
16,437,607 |
|
|
5,411,785 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment advisory |
|
|
2,577,469 |
|
|
4,872,606 |
|
|
5,269,607 |
|
|
1,542,332 |
|
|
|
Transfer agent |
|
|
15,023 |
|
|
15,124 |
|
|
11,157 |
|
|
9,917 |
|
|
|
Custodian |
|
|
56,624 |
|
|
128,273 |
|
|
76,205 |
|
|
118,132 |
|
|
|
Reports to shareholders |
|
|
79,278 |
|
|
81,450 |
|
|
57,028 |
|
|
22,315 |
|
|
|
Trustees |
|
|
42,173 |
|
|
42,173 |
|
|
42,173 |
|
|
15,372 |
|
|
|
Registration |
|
|
32,580 |
|
|
22,316 |
|
|
16,860 |
|
|
15,620 |
|
|
|
Independent accountants |
|
|
17,801 |
|
|
21,076 |
|
|
38,915 |
|
|
24,544 |
|
|
|
Legal |
|
|
58,164 |
|
|
62,785 |
|
|
60,085 |
|
|
28,187 |
|
|
|
Insurance |
|
|
23,537 |
|
|
44,631 |
|
|
25,899 |
|
|
9,910 |
|
|
|
Organization |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
License fee |
|
|
396,534 |
|
|
487,261 |
|
|
— |
|
|
— |
|
|
|
Miscellaneous |
|
|
31,847 |
|
|
33,519 |
|
|
35,999 |
|
|
11,903 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses |
|
|
3,331,030 |
|
|
5,811,214 |
|
|
5,633,928 |
|
|
1,798,232 |
|
|
|
Less fees waived by Advisor |
|
|
— |
|
|
— |
|
|
(878,268 |
) |
|
— |
|
|
|
Less fees paid indirectly |
|
|
(13 |
) |
|
(426 |
) |
|
(1,087 |
) |
|
(247 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net expense |
|
|
3,331,017 |
|
|
5,810,788 |
|
|
4,754,573 |
|
|
1,797,985 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
|
|
12,218,789 |
|
|
14,372,968 |
|
|
11,683,034 |
|
|
3,613,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized and Unrealized Gain |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net realized gain |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
|
14,984,317 |
|
|
(9,284,944 |
) |
|
42,302,220 |
|
|
24,089,788 |
|
|
|
Foreign currency |
|
|
— |
|
|
— |
|
|
504,991 |
|
|
(294,647 |
) |
|
|
Options written |
|
|
— |
|
|
19,554,771 |
|
|
6,937,738 |
|
|
2,003,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,984,317 |
|
|
10,269,827 |
|
|
49,744,949 |
|
|
25,798,549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in unrealized appreciation (depreciation) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
|
41,503,814 |
|
|
46,309,242 |
|
|
95,813,835 |
|
|
31,200,580 |
|
|
|
Foreign currency |
|
|
— |
|
|
— |
|
|
10,241 |
|
|
183,737 |
|
|
|
Options written |
|
|
— |
|
|
(2,645,744 |
) |
|
(6,596,931 |
) |
|
(1,719,667 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
41,503,814 |
|
|
43,663,498 |
|
|
89,227,145 |
|
|
29,664,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain |
|
|
56,488,131 |
|
|
53,933,325 |
|
|
138,972,094 |
|
|
55,463,199 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Increase in Net Assets Resulting from Operations |
|
$ |
68,706,920 |
|
$ |
68,306,293 |
|
$ |
150,655,128 |
|
$ |
59,076,999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements.
49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health |
|
S&P |
|
Strategic |
|
World |
|
||||
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
730,488 |
|
$ |
1,819,322 |
|
$ |
7,486,514 |
|
$ |
11,790,245 |
|
|
|
250,321 |
|
|
10,371 |
|
|
52,144 |
|
|
1,265,323 |
|
|
|
(24,954 |
) |
|
(54,316 |
) |
|
(9,440 |
) |
|
(927,559 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
955,855 |
|
|
1,775,377 |
|
|
7,529,218 |
|
|
12,128,009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,035,571 |
|
|
374,215 |
|
|
1,555,306 |
|
|
3,915,398 |
|
|
|
9,917 |
|
|
9,890 |
|
|
9,890 |
|
|
12,397 |
|
|
|
66,489 |
|
|
39,062 |
|
|
39,160 |
|
|
182,280 |
|
|
|
12,308 |
|
|
12,308 |
|
|
43,621 |
|
|
37,192 |
|
|
|
11,901 |
|
|
7,417 |
|
|
28,683 |
|
|
35,952 |
|
|
|
10,538 |
|
|
988 |
|
|
12,851 |
|
|
17,108 |
|
|
|
17,963 |
|
|
22,987 |
|
|
21,358 |
|
|
25,787 |
|
|
|
22,136 |
|
|
10,464 |
|
|
37,762 |
|
|
55,886 |
|
|
|
6,561 |
|
|
3,316 |
|
|
14,145 |
|
|
37,192 |
|
|
|
— |
|
|
— |
|
|
— |
|
|
15,000 |
|
|
|
— |
|
|
74,843 |
|
|
207,374 |
|
|
— |
|
|
|
10,042 |
|
|
10,730 |
|
|
24,487 |
|
|
16,782 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,203,426 |
|
|
566,220 |
|
|
1,994,637 |
|
|
4,350,974 |
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
(687 |
) |
|
(147 |
) |
|
(64 |
) |
|
(14,387 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,202,739 |
|
|
566,073 |
|
|
1,994,573 |
|
|
4,336,587 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(246,884 |
) |
|
1,209,304 |
|
|
5,534,645 |
|
|
7,791,422 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,881,648 |
|
|
332,231 |
|
|
3,541,187 |
|
|
69,607,688 |
|
|
|
(3,008 |
) |
|
15,126 |
|
|
— |
|
|
(294,549 |
) |
|
|
3,363,555 |
|
|
— |
|
|
— |
|
|
9,180,237 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,242,195 |
|
|
347,357 |
|
|
3,541,187 |
|
|
78,493,376 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(7,148,291 |
) |
|
11,104,312 |
|
|
19,590,844 |
|
|
74,101,652 |
|
|
|
— |
|
|
(4,042 |
) |
|
— |
|
|
(1,035,962 |
) |
|
|
289,139 |
|
|
— |
|
|
— |
|
|
(2,303,544 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6,859,152 |
) |
|
11,100,270 |
|
|
19,590,844 |
|
|
70,762,146 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,383,043 |
|
|
11,447,627 |
|
|
23,132,031 |
|
|
149,255,522 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
13,136,159 |
|
$ |
12,656,931 |
|
$ |
28,666,676 |
|
$ |
157,046,944 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
50
|
|
|
For the six months ended April 30, 2006 (unaudited) and the periods ended October 31, 2005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividend AchieversTM Trust |
|
Enhanced Dividend |
|
Global Energy |
|
||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
2006 |
|
2005 |
|
2006 |
|
20051 |
|
2006 |
|
20051 |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Increase (Decrease) in Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations:1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
|
$ |
12,218,789 |
|
$ |
23,614,570 |
|
$ |
14,372,968 |
|
$ |
3,952,652 |
|
$ |
11,683,034 |
|
$ |
16,774,089 |
|
|
Net realized gain (loss) |
|
|
14,984,317 |
|
|
15,243,788 |
|
|
10,269,827 |
|
|
6,436,934 |
|
|
49,744,949 |
|
|
37,898,119 |
|
|
Net change in unrealized appreciation/depreciation |
|
|
41,503,814 |
|
|
(15,121,002 |
) |
|
43,663,498 |
|
|
(23,257,018 |
) |
|
89,227,145 |
|
|
106,358,047 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets resulting from operations |
|
|
68,706,920 |
|
|
23,737,356 |
|
|
68,306,293 |
|
|
(12,867,432 |
) |
|
150,655,128 |
|
|
161,030,255 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends and Distributions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income2 |
|
|
(24,533,243 |
) |
|
(23,075,649 |
) |
|
(42,233,535 |
) |
|
(3,943,349 |
) |
|
(22,324,664 |
) |
|
(16,085,666 |
) |
|
Net realized gain |
|
|
— |
|
|
(15,543,438 |
) |
|
— |
|
|
(3,086,844 |
) |
|
(19,599,565 |
) |
|
(17,401,328 |
) |
|
Tax return of capital |
|
|
— |
|
|
(10,447,397 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total dividends and distributions |
|
|
(24,533,243 |
) |
|
(49,066,484 |
) |
|
(42,233,535 |
) |
|
(7,030,193 |
) |
|
(41,924,229 |
) |
|
(33,486,994 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Share Transactions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net proceeds from the issuance of common shares |
|
|
— |
|
|
— |
|
|
— |
|
|
901,085,239 |
|
|
— |
|
|
633,917,815 |
|
|
Net proceeds from the underwriters’over-allotment option exercised |
|
|
— |
|
|
— |
|
|
— |
|
|
85,920,000 |
|
|
— |
|
|
75,462,618 |
|
|
Reinvestment of dividends and distributions |
|
|
— |
|
|
— |
|
|
362,797 |
|
|
1,137,729 |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net proceeds from capital share transactions |
|
|
— |
|
|
— |
|
|
362,797 |
|
|
988,142,968 |
|
|
— |
|
|
709,380,433 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total increase (decrease) in net assets |
|
|
44,173,677 |
|
|
(25,329,128 |
) |
|
26,435,555 |
|
|
968,245,343 |
|
|
108,730,899 |
|
|
836,923,694 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of period |
|
|
774,690,884 |
|
|
800,020,012 |
|
|
968,245,343 |
|
|
— |
|
|
836,923,694 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of period |
|
$ |
818,864,561 |
|
$ |
774,690,884 |
|
$ |
994,680,898 |
|
$ |
968,245,343 |
|
$ |
945,654,593 |
|
$ |
836,923,694 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of period distributions in excess of net investment income or accumulated net investment loss |
|
$ |
(11,882,798 |
) |
$ |
431,656 |
|
$ |
(27,847,504 |
) |
$ |
13,063 |
|
$ |
(10,153,823 |
) |
$ |
(17,183 |
) |
|
|
|
|
|
|
|
1 |
Commencement of investment operations for Enhanced Dividend Achievers, Global Energy and Resources, Global Opportunities, Health Sciences and World Investment were August 31, 2005, December 29, 2004, May 31, 2005, March 31, 2005 and October 28, 2005, respectively. This information includes the initial investment by BlackRock Funding, Inc. The other Trusts’ statements are for a full year. |
|
2 |
A portion of the dividends from net investment income for the six months ended April 30, 2006 may be deemed a tax return of capital or net realized gain at fiscal year end. |
See Notes to Financial Statements.
51
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global |
|
Health |
|
S&P Quality Rankings |
|
Strategic Dividend |
|
World |
|
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
|
2006 |
|
20051 |
|
2006 |
|
20051 |
|
2006 |
|
2005 |
|
2006 |
|
2005 |
|
2006 |
|
20051 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|||||||||||||||||||||||||||||
|
$ |
3,613,800 |
|
$ |
4,538,040 |
|
$ |
(246,884 |
) |
$ |
(219,209 |
) |
$ |
1,209,304 |
|
$ |
3,239,854 |
|
$ |
5,534,645 |
|
$ |
12,356,145 |
|
$ |
7,791,422 |
|
$ |
131,346 |
|
|
|
25,798,549 |
|
|
2,962,997 |
|
|
20,242,195 |
|
|
7,008,118 |
|
|
347,357 |
|
|
3,103,187 |
|
|
3,541,187 |
|
|
11,640,949 |
|
|
78,493,376 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
29,664,650 |
|
|
(1,286,843 |
) |
|
(6,859,152 |
) |
|
18,167,699 |
|
|
11,100,270 |
|
|
2,340,194 |
|
|
19,590,844 |
|
|
5,015,723 |
|
|
70,762,146 |
|
|
5,435,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
59,076,999 |
|
|
6,214,194 |
|
|
13,136,159 |
|
|
24,956,608 |
|
|
12,656,931 |
|
|
8,683,235 |
|
|
28,666,676 |
|
|
29,012,817 |
|
|
157,046,944 |
|
|
5,567,244 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(14,078,760 |
) |
|
(2,881,081 |
) |
|
(5,769,327 |
) |
|
— |
|
|
(3,547,149 |
) |
|
(2,262,385 |
) |
|
(12,108,614 |
) |
|
(11,808,745 |
) |
|
(29,526,642 |
) |
|
— |
|
|
|
— |
|
|
(4,060,409 |
) |
|
— |
|
|
(5,769,328 |
) |
|
— |
|
|
(2,262,386 |
) |
|
— |
|
|
(11,832,166 |
) |
|
— |
|
|
— |
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(576,314 |
) |
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(14,078,760 |
) |
|
(6,941,490 |
) |
|
(5,769,327 |
) |
|
(5,769,328 |
) |
|
(3,547,149 |
) |
|
(4,524,771 |
) |
|
(12,108,614 |
) |
|
(24,217,225 |
) |
|
(29,526,642 |
) |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
286,020,006 |
|
|
— |
|
|
178,817,506 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
75,035,025 |
|
|
667,413,497 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
4,775,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
4,127,318 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
129,539 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
294,922,324 |
|
|
— |
|
|
178,817,506 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
75,164,564 |
|
|
667,413,497 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
44,998,239 |
|
|
294,195,028 |
|
|
7,366,832 |
|
|
198,004,786 |
|
|
9,109,782 |
|
|
4,158,464 |
|
|
16,558,062 |
|
|
4,795,592 |
|
|
202,684,866 |
|
|
672,980,741 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
294,195,028 |
|
|
— |
|
|
198,004,786 |
|
|
— |
|
|
96,401,772 |
|
|
92,243,308 |
|
|
407,365,641 |
|
|
402,570,049 |
|
|
672,980,741 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
339,193,267 |
|
$ |
294,195,028 |
|
$ |
205,371,618 |
|
$ |
198,004,786 |
|
$ |
105,511,554 |
|
$ |
96,401,772 |
|
$ |
423,923,703 |
|
$ |
407,365,641 |
|
$ |
875,665,607 |
|
$ |
672,980,741 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(10,795,941 |
) |
$ |
(36,334 |
) |
$ |
(6,021,881 |
) |
$ |
(2,662 |
) |
$ |
(1,550,473 |
) |
$ |
777,246 |
|
$ |
(5,965,121 |
) |
$ |
608,848 |
|
$ |
(21,883,423 |
) |
$ |
146,346 |
|
52
|
|
|
|
|
BlackRock Dividend AchieversTM Trust (BDV) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six |
|
For the |
|
For the Period |
|
|||
|
|
|
|
|
|
|
|
|
|||
|
PER SHARE OPERATING PERFORMANCE: |
|
|
|
|
|
|
|
|
|
|
|
Net asset value, beginning of period |
|
$ |
14.21 |
|
$ |
14.67 |
|
$ |
14.33 |
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment operations: |
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
0.23 |
|
|
0.43 |
|
|
0.37 |
|
|
Net realized and unrealized gain |
|
|
1.03 |
|
|
0.01 |
|
|
0.66 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase from investment operations |
|
|
1.26 |
|
|
0.44 |
|
|
1.03 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends and distributions from: |
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
(0.45 |
)3 |
|
(0.43 |
) |
|
(0.38 |
) |
|
Net realized gain |
|
|
— |
|
|
(0.28 |
) |
|
— |
|
|
Tax return of capital |
|
|
— |
|
|
(0.19 |
) |
|
(0.29 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total dividends and distributions |
|
|
(0.45 |
) |
|
(0.90 |
) |
|
(0.67 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital charges with respect to issuance of shares |
|
|
— |
|
|
— |
|
|
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value, end of period |
|
$ |
15.02 |
|
$ |
14.21 |
|
$ |
14.67 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price, end of period |
|
$ |
12.98 |
|
$ |
12.77 |
|
$ |
14.98 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENT RETURN4 |
|
|
5.15 |
% |
|
(9.25 |
)% |
|
4.62 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RATIOS TO AVERAGE NET ASSETS: |
|
|
|
|
|
|
|
|
|
|
|
Total expenses |
|
|
0.83 |
%5 |
|
0.84 |
% |
|
0.83 |
%5 |
|
Net expenses |
|
|
0.83 |
%5 |
|
0.84 |
% |
|
0.83 |
%5 |
|
Net investment income |
|
|
3.04 |
%5 |
|
2.93 |
% |
|
3.00 |
%5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DATA: |
|
|
|
|
|
|
|
|
|
|
|
Average net assets (000) |
|
$ |
811,851 |
|
$ |
805,289 |
|
$ |
777,731 |
|
|
Portfolio turnover |
|
|
11 |
% |
|
27 |
% |
|
6 |
% |
|
Net assets, end of period (000) |
|
$ |
818,865 |
|
$ |
774,691 |
|
$ |
800,020 |
|
|
|
|
|
|
|
|
1 |
Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc. |
|
2 |
Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share. |
|
3 |
A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end. |
|
4 |
Total investment return is calculated assuming a purchase of a share at the current market price on the first day and a sale at the current market price on the last day of the period reported. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. Total investment returns do not reflect brokerage commissions. Total investment returns for less than a full year are not annualized. Past performance is not a guarantee of future results. |
|
5 |
Annualized. |
The information in the above Financial Highlights represents the unaudited operating performance for a share outstanding, total investment return, ratios to average net assets and other supplemental data for the period indicated. This information has been determined based upon financial information provided in the financial statements and market price data for the Trust’s shares.
See Notes to Financial Statements.
53
FINANCIAL
HIGHLIGHTS
BlackRock Enhanced Dividend AchieversTM Trust
(BDJ)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six |
|
For the Period |
|
||
|
|
|
|
|
|
|
||
|
PER SHARE OPERATING PERFORMANCE: |
|
|
|
|
|
|
|
|
Net asset value, beginning of period |
|
$ |
14.01 |
|
$ |
14.33 |
2 |
|
|
|
|
|
|
|
|
|
|
Investment operations: |
|
|
|
|
|
|
|
|
Net investment income |
|
|
0.21 |
|
|
0.06 |
|
|
Net realized and unrealized loss |
|
|
0.78 |
|
|
(0.26 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) from investment operations |
|
|
0.99 |
|
|
(0.20 |
) |
|
|
|
|
|
|
|
|
|
|
Dividends and distributions from: |
|
|
|
|
|
|
|
|
Net investment income |
|
|
(0.61 |
)3 |
|
(0.06 |
) |
|
Net realized gain |
|
|
— |
|
|
(0.04 |
) |
|
|
|
|
|
|
|
|
|
|
Total dividends and distributions |
|
|
(0.61 |
) |
|
(0.10 |
) |
|
|
|
|
|
|
|
|
|
|
Capital charges with respect to issuance of shares |
|
|
— |
|
|
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
Net asset value, end of period |
|
$ |
14.39 |
|
$ |
14.01 |
|
|
|
|
|
|
|
|
|
|
|
Market price, end of period |
|
$ |
13.30 |
|
$ |
13.79 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENT RETURN4 |
|
|
0.78 |
% |
|
(7.40 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RATIOS TO AVERAGE NET ASSETS:5 |
|
|
|
|
|
|
|
|
Total expenses |
|
|
1.19 |
% |
|
1.25 |
% |
|
Net expenses |
|
|
1.19 |
% |
|
1.25 |
% |
|
Net investment income |
|
|
2.93 |
% |
|
2.44 |
% |
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DATA: |
|
|
|
|
|
|
|
|
Average net assets (000) |
|
$ |
988,667 |
|
$ |
953,303 |
|
|
Portfolio turnover |
|
|
60 |
% |
|
5 |
% |
|
Net assets, end of period (000) |
|
$ |
994,681 |
|
$ |
968,245 |
|
|
|
|
|
1 |
Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc. |
|
2 |
Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share. |
|
3 |
A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end. |
|
4 |
Total investment return is calculated assuming a purchase of a share at the current market price on the first day and a sale at the current market price on the last day of each year reported. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. Total investment returns do not reflect brokerage commissions. Total investment returns for less than a full year are not annualized. Past performance is not a guarantee of future results. |
|
5 |
Annualized. |
The information in the above Financial Highlights represents the operating performance for a common share outstanding, total investment returns, ratios to average net assets and other supplemental data for each period indicated. This information has been determined based upon financial information provided in the financial statements and market price data for the Trust’s common shares.
See Notes to Financial Statements.
54
FINANCIAL
HIGHLIGHTS
BlackRock Global Energy and Resources Trust (BGR)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six |
|
For the Period |
|
||
|
|
|
|
|
|
|
||
|
PER SHARE OPERATING PERFORMANCE: |
|
|
|
|
|
|
|
|
Net asset value, beginning of period |
|
$ |
28.12 |
|
$ |
23.88 |
2 |
|
|
|
|
|
|
|
|
|
|
Investment operations: |
|
|
|
|
|
|
|
|
Net investment income |
|
|
0.41 |
|
|
0.56 |
|
|
Net realized and unrealized gain |
|
|
4.65 |
|
|
4.85 |
|
|
|
|
|
|
|
|
|
|
|
Net increase from investment operations |
|
|
5.06 |
|
|
5.41 |
|
|
|
|
|
|
|
|
|
|
|
Dividends and distributions from: |
|
|
|
|
|
|
|
|
Net investment income |
|
|
(0.75 |
)3 |
|
(0.54 |
) |
|
Net realized gain |
|
|
(0.66 |
) |
|
(0.59 |
) |
|
|
|
|
|
|
|
|
|
|
Total dividends and distributions |
|
|
(1.41 |
) |
|
(1.13 |
) |
|
|
|
|
|
|
|
|
|
|
Capital charges with respect to issuance of shares |
|
|
— |
|
|
(0.04 |
) |
|
|
|
|
|
|
|
|
|
|
Net asset value, end of period |
|
$ |
31.77 |
|
$ |
28.12 |
|
|
|
|
|
|
|
|
|
|
|
Market price, end of period |
|
$ |
27.12 |
|
$ |
25.16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENT RETURN4 |
|
|
13.52 |
% |
|
5.10 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RATIOS TO AVERAGE NET ASSETS:5 |
|
|
|
|
|
|
|
|
Net expenses |
|
|
1.02 |
% |
|
1.10 |
% |
|
Total expenses |
|
|
1.21 |
% |
|
1.30 |
% |
|
Net investment income after fees waived |
|
|
2.51 |
% |
|
2.59 |
% |
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DATA: |
|
|
|
|
|
|
|
|
Average net assets (000) |
|
$ |
939,018 |
|
$ |
770,023 |
|
|
Portfolio turnover |
|
|
21 |
% |
|
64 |
% |
|
Net assets, end of period (000) |
|
$ |
945,655 |
|
$ |
836,924 |
|
|
|
|
|
1 |
Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc. |
|
2 |
Net asset value, beginning of period, reflects a deduction of $1.12 per share sales charge from the initial offering price of $25.00 per share. |
|
3 |
A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end. |
|
4 |
Total investment return is calculated assuming a purchase of a share at the current market price on the first day and a sale at the current market price on the last day of the period reported. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. Total investment returns do not reflect brokerage commissions. Total investment returns for less than a full year are not annualized. Past performance is not a guarantee of future results. |
|
5 |
Annualized. |
The information in the above Financial Highlights represents the unaudited operating performance for a share outstanding, total investment return, ratios to average net assets and other supplemental data for the period indicated. This information has been determined based upon financial information provided in the financial statements and market price data for the Trust’s shares.
See Notes to Financial Statements.
55
FINANCIAL HIGHLIGHTS
BlackRock Global Opportunities Equity Trust (BOE)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six |
|
For the Period |
|
||
|
|
|
|
|
|
|
||
|
PER SHARE OPERATING PERFORMANCE: |
|
|
|
|
|
|
|
|
Net asset value, beginning of period |
|
$ |
23.77 |
|
$ |
23.88 |
2 |
|
|
|
|
|
|
|
|
|
|
Investment operations: |
|
|
|
|
|
|
|
|
Net investment income |
|
|
0.27 |
|
|
0.37 |
|
|
Net realized and unrealized gain |
|
|
4.51 |
|
|
0.13 |
|
|
|
|
|
|
|
|
|
|
|
Net increase from investment operations |
|
|
4.78 |
|
|
0.50 |
|
|
|
|
|
|
|
|
|
|
|
Dividends and distributions from: |
|
|
|
|
|
|
|
|
Net investment income |
|
|
(1.14 |
)3 |
|
(0.23 |
) |
|
Net realized gain |
|
|
— |
|
|
(0.33 |
) |
|
|
|
|
|
|
|
|
|
|
Total dividends and distributions |
|
|
(1.14 |
) |
|
(0.56 |
) |
|
|
|
|
|
|
|
|
|
|
Capital charges with respect to issuance of shares |
|
|
— |
|
|
(0.05 |
) |
|
|
|
|
|
|
|
|
|
|
Net asset value, end of period |
|
$ |
27.41 |
|
$ |
23.77 |
|
|
|
|
|
|
|
|
|
|
|
Market price, end of period |
|
$ |
25.80 |
|
$ |
23.88 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENT RETURN4 |
|
|
13.22 |
% |
|
(2.21 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RATIOS TO AVERAGE NET ASSETS:5 |
|
|
|
|
|
|
|
|
Total expenses |
|
|
1.07 |
% |
|
1.19 |
% |
|
Net expenses |
|
|
1.07 |
% |
|
1.19 |
% |
|
Net investment income |
|
|
2.15 |
% |
|
3.66 |
% |
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DATA: |
|
|
|
|
|
|
|
|
Average net assets (000) |
|
$ |
338,670 |
|
$ |
294,175 |
|
|
Portfolio turnover |
|
|
118 |
% |
|
55 |
% |
|
Net assets, end of period (000) |
|
$ |
339,193 |
|
$ |
294,195 |
|
|
|
|
|
1 |
Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc. |
|
2 |
Net asset value, beginning of period, reflects a deduction of $1.12 per share sales charge from the initial offering price of $25.00 per share. |
|
3 |
A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end. |
|
4 |
Total investment return is calculated assuming a purchase of a share at the current market price on the first day and a sale at the current market price on the last day of the period reported. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. Total investment returns do not reflect brokerage commissions. Total investment returns for less than a full year are not annualized. Past performance is not a guarantee of future results. |
|
5 |
Annualized. |
The information in the above Financial Highlights represents the unaudited operating performance for a share outstanding, total investment return, ratios to average net assets and other supplemental data for the period indicated. This information has been determined based upon financial information provided in the financial statements and market price data for the Trust’s shares.
See Notes to Financial Statements.
56
FINANCIAL
HIGHLIGHTS
BlackRock Health Sciences Trust (BME)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six |
|
For the Period |
|
||
|
|
|
|
|
|
|
||
|
PER SHARE OPERATING PERFORMANCE: |
|
|
|
|
|
|
|
|
Net asset value, beginning of period |
|
$ |
26.38 |
|
$ |
23.88 |
2 |
|
|
|
|
|
|
|
|
|
|
Investment operations: |
|
|
|
|
|
|
|
|
Net investment loss |
|
|
(0.03 |
) |
|
(0.03 |
) |
|
Net realized and unrealized gain |
|
|
1.79 |
|
|
3.30 |
|
|
|
|
|
|
|
|
|
|
|
Net increase from investment operations |
|
|
1.76 |
|
|
3.27 |
|
|
|
|
|
|
|
|
|
|
|
Dividends and distributions from: |
|
|
|
|
|
|
|
|
Net investment income |
|
|
(0.77 |
)3 |
|
— |
|
|
Net realized gain |
|
|
— |
|
|
(0.77 |
) |
|
|
|
|
|
|
|
|
|
|
Total dividends and distributions |
|
|
(0.77 |
) |
|
(0.77 |
) |
|
|
|
|
|
|
|
|
|
|
Net asset value, end of period |
|
$ |
27.37 |
|
$ |
26.38 |
|
|
|
|
|
|
|
|
|
|
|
Market price, end of period |
|
$ |
24.98 |
|
$ |
25.19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENT RETURN4 |
|
|
2.11 |
% |
|
3.81 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RATIOS TO AVERAGE NET ASSETS:5 |
|
|
|
|
|
|
|
|
Total expenses |
|
|
1.19 |
% |
|
1.18 |
% |
|
Net expenses |
|
|
1.19 |
% |
|
1.18 |
% |
|
Net investment loss |
|
|
(0.24 |
)% |
|
(0.19 |
)% |
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DATA: |
|
|
|
|
|
|
|
|
Average net assets (000) |
|
$ |
204,172 |
|
$ |
192,836 |
|
|
Portfolio turnover |
|
|
117 |
% |
|
104 |
% |
|
Net assets, end of period (000) |
|
$ |
205,372 |
|
$ |
198,005 |
|
|
|
|
|
1 |
Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc. |
|
2 |
Net asset value, beginning of period, reflects a deduction of $1.12 per share sales charge from the initial offering price of $25.00 per share. |
|
3 |
A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end. |
|
4 |
Total investment return is calculated assuming a purchase of a share at the current market price on the first day and a sale at the current market price on the last day of the period reported. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. Total investment returns do not reflect brokerage commissions. Total investment returns for less than a full year are not annualized. Past performance is not a guarantee of future results. |
|
5 |
Annualized. |
The information in the above Financial Highlights represents the unaudited operating performance for a share outstanding, total investment return, ratios to average net assets and other supplemental data for the period indicated. This information has been determined based upon financial information provided in the financial statements and market price data for the Trust’s shares.
See Notes to Financial Statements.
57
FINANCIAL HIGHLIGHTS
S&P Quality Rankings Global Equity Managed Trust (BQY)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six |
|
For the |
|
For the Period |
|
|||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
PER SHARE OPERATING PERFORMANCE: |
|
|
|
|
|
|
|
|
|
|
||||||
|
Net asset value, beginning of period |
|
|
$ |
15.98 |
|
|
|
$ |
15.29 |
|
|
|
$ |
14.33 |
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
0.20 |
|
|
|
|
0.56 |
|
|
|
|
0.21 |
|
|
|
Net realized and unrealized gain |
|
|
|
1.90 |
|
|
|
|
0.88 |
|
|
|
|
0.96 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase from investment operations |
|
|
|
2.10 |
|
|
|
|
1.44 |
|
|
|
|
1.17 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends and distributions from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
(0.59 |
)3 |
|
|
|
(0.37 |
) |
|
|
|
(0.17 |
) |
|
|
Net realized gain |
|
|
|
— |
|
|
|
|
(0.38 |
) |
|
|
|
— |
|
|
|
Tax return of capital |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total dividends and distributions |
|
|
|
(0.59 |
) |
|
|
|
(0.75 |
) |
|
|
|
(0.19 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital charges with respect to issuance of shares |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value, end of period |
|
|
$ |
17.49 |
|
|
|
$ |
15.98 |
|
|
|
$ |
15.29 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price, end of period |
|
|
$ |
15.15 |
|
|
|
$ |
14.54 |
|
|
|
$ |
13.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENT RETURN4 |
|
|
|
8.41 |
% |
|
|
|
10.97 |
% |
|
|
|
(6.80 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RATIOS TO AVERAGE NET ASSETS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses |
|
|
|
1.08 |
%5 |
|
|
|
1.14 |
% |
|
|
|
1.23 |
%5 |
|
|
Net expenses |
|
|
|
1.08 |
%5 |
|
|
|
1.14 |
% |
|
|
|
1.23 |
%5 |
|
|
Net investment income |
|
|
|
2.31 |
%5 |
|
|
|
3.35 |
% |
|
|
|
3.27 |
%5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DATA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average net assets (000) |
|
|
$ |
105,508 |
|
|
|
$ |
96,697 |
|
|
|
$ |
87,094 |
|
|
|
Portfolio turnover |
|
|
|
2 |
% |
|
|
|
38 |
% |
|
|
|
4 |
% |
|
|
Net assets, end of period (000) |
|
|
|
105,512 |
|
|
|
$ |
96,402 |
|
|
|
$ |
92,243 |
|
|
|
|
|
|
|
|
|
1 |
Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc. |
|
2 |
Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share. |
|
3 |
A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end. |
|
4 |
Total investment return is calculated assuming a purchase of a share at the current market price on the first day and a sale at the current market price on the last day of the period reported. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. Total investment returns do not reflect brokerage commissions. Total investment returns for less than a full year are not annualized. Past performance is not a guarantee of future results. |
|
5 |
Annualized. |
The information in the above Financial Highlights represents the unaudited operating performance for a share outstanding, total investment return, ratios to average net assets and other supplemental data for the period indicated. This information has been determined based upon financial information provided in the financial statements and market price data for the Trust’s shares.
See Notes to Financial Statements.
58
FINANCIAL HIGHLIGHTS
BlackRock Strategic Dividend AchieversTM Trust (BDT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six |
|
For the |
|
For the Period |
|
|||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
PER SHARE OPERATING PERFORMANCE: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value, beginning of period |
|
|
$ |
15.14 |
|
|
|
$ |
14.96 |
|
|
|
$ |
14.33 |
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
0.21 |
|
|
|
|
0.46 |
|
|
|
|
0.18 |
|
|
|
Net realized and unrealized gain |
|
|
|
0.85 |
|
|
|
|
0.62 |
|
|
|
|
0.92 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase from investment operations |
|
|
|
1.06 |
|
|
|
|
1.08 |
|
|
|
|
1.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends and distributions from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
(0.45 |
)3 |
|
|
|
(0.46 |
) |
|
|
|
(0.17 |
) |
|
|
Net realized gain |
|
|
|
— |
|
|
|
|
(0.42 |
) |
|
|
|
— |
|
|
|
Tax return of capital |
|
|
|
— |
|
|
|
|
(0.02 |
) |
|
|
|
(0.28 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total dividends and distributions |
|
|
|
(0.45 |
) |
|
|
|
(0.90 |
) |
|
|
|
(0.45 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital charges with respect to issuance of shares |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value, end of period |
|
|
$ |
15.75 |
|
|
|
$ |
15.14 |
|
|
|
$ |
14.96 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price, end of period |
|
|
$ |
13.85 |
|
|
|
$ |
13.20 |
|
|
|
$ |
14.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENT RETURN4 |
|
|
|
8.38 |
% |
|
|
|
(3.46 |
)% |
|
|
|
0.01 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RATIOS TO AVERAGE NET ASSETS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses |
|
|
|
0.95 |
%5 |
|
|
|
0.96 |
% |
|
|
|
0.99 |
%5 |
|
|
Net expenses |
|
|
|
0.95 |
%5 |
|
|
|
0.96 |
% |
|
|
|
0.99 |
%5 |
|
|
Net investment income |
|
|
|
2.63 |
%5 |
|
|
|
3.01 |
% |
|
|
|
2.18 |
%5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DATA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average net assets (000) |
|
|
$ |
424,008 |
|
|
|
$ |
410,719 |
|
|
|
$ |
377,074 |
|
|
|
Portfolio turnover |
|
|
|
1 |
% |
|
|
|
24 |
% |
|
|
|
1 |
% |
|
|
Net assets, end of period (000) |
|
|
$ |
423,924 |
|
|
|
$ |
407,366 |
|
|
|
$ |
402,570 |
|
|
|
|
|
|
|
|
|
1 |
Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc. |
|
2 |
Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share. |
|
3 |
A part of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end. |
|
4 |
Total investment return is calculated assuming a purchase of a share at the current market price on the first day and a sale at the current market price on the last day of the period reported. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. Total investment returns do not reflect brokerage commissions. Total investment returns for less than a full year are not annualized. Past performance is not a guarantee of future results. |
|
5 |
Annualized. |
The information in the above Financial Highlights represents the unaudited operating performance for a share outstanding, total investment return, ratios to average net assets and other supplemental data for the period indicated. This information has been determined based upon financial information provided in the financial statements and market price data for the Trust’s shares.
See Notes to Financial Statements.
59
FINANCIAL HIGHLIGHTS
BlackRock World Investment Trust (BWC)
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For the Six |
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For the Period |
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|||||||||||
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|||||||||||
|
PER SHARE OPERATING PERFORMANCE: |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Net asset value, beginning of period |
|
|
$ |
14.42 |
|
|
|
$ |
14.33 |
2 |
|
|||||
|
|
|
|
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|
|||||
|
Investment operations: |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Net investment income |
|
|
|
0.15 |
|
|
|
|
— |
|
|
|||||
|
Net realized and unrealized gain |
|
|
|
2.87 |
|
|
|
|
0.11 |
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|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Net increase from investment operations |
|
|
|
3.02 |
|
|
|
|
0.11 |
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Distributions from net investment income |
|
|
|
(0.57 |
) |
|
|
|
— |
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|
|||||
|
|
|
|
|
|
|
|
|
|
|
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|
|||||
|
Capital charges with respect to issuance of shares |
|
|
|
— |
|
|
|
|
(0.02 |
) |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Net asset value, end of period |
|
|
$ |
16.87 |
|
|
|
$ |
14.42 |
|
|
|||||
|
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|
|
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|
|||||
|
Market price, end of period |
|
|
$ |
16.53 |
|
|
|
$ |
15.08 |
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|
|||||
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|||||
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|
|||||
|
TOTAL INVESTMENT RETURN3 |
|
|
|
13.62 |
% |
|
|
|
0.53 |
% |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
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|
|||||
|
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|
|||||
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|
|||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Total expenses |
|
|
|
1.00 |
%5 |
|
|
|
1.23 |
%4 |
|
|||||
|
Net expenses |
|
|
|
1.00 |
%5 |
|
|
|
1.23 |
%4 |
|
|||||
|
Net investment income |
|
|
|
1.80 |
%5 |
|
|
|
2.59 |
%4 |
|
|||||
|
|
|
|
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|
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|
|||||
|
SUPPLEMENTAL DATA: |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Average net assets (000) |
|
|
$ |
874,421 |
|
|
|
$ |
667,368 |
|
|
|||||
|
Portfolio turnover |
|
|
|
95 |
% |
|
|
|
— |
% |
|
|||||
|
Net assets, end of period (000) |
|
|
$ |
875,666 |
|
|
|
$ |
672,981 |
|
|
|||||
|
|
|
|
1 |
Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc. |
|
2 |
Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share. |
|
3 |
Total investment return is calculated assuming a purchase of a share at the current market price on the first day and a sale at the current market price on the last day of the period reported. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. Total investment returns do not reflect brokerage commissions. Total investment returns for less than a full year are not annualized. Past performance is not a guarantee of future results. |
|
4 |
The Trust incurred certain expenses that were for a full year, which were not annualized. If these expenses were annualized the total expenses and net investment income ratios would have been 2.39% and 1.44%, respectively. |
|
5 |
Annualized. |
The information in the above Financial Highlights represents the unaudited operating performance for a share outstanding, total investment return, ratios to average net assets and other supplemental data for the period indicated. This information has been determined based upon financial information provided in the financial statements and market price data for the Trust’s shares.
See Notes to Financial Statements.
60
|
|
|
|
Note 1. Organization & Accounting Policies
BlackRock Dividend AchieversTM Trust (“Dividend Achievers”), BlackRock Enhanced Dividend AchieversTM Trust (“Enhanced Dividend Achievers”), BlackRock Global Energy and Resources Trust (“Global Energy and Resources”), BlackRock Global Opportunities Equity Trust (“Global Opportunities”), BlackRock Health Sciences Trust (“Health Sciences”), BlackRock S&P Quality Rankings Global Equity Managed Trust (“S&P Quality Rankings”), BlackRock Strategic Dividend AchieversTM Trust (“Strategic Dividend Achievers”) and BlackRock World Investment Trust (“World Investment”) (collectively, the “Trusts”) are organized as Delaware statutory trusts. All Trusts, except Global Energy and Resources and Health Sciences, are registered as diversified, closed-end management investment companies under the Investment Company Act of 1940, as amended. Global Energy and Resources and Health Sciences are registered as non-diversified, closed-end management investment companies under the Investment Company Act of 1940, as amended.
Under the Trusts’ organizational documents, their officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trusts. In addition, in the normal course of business, the Trusts enter into contracts with their vendors and others that provide for general indemnifications. The Trusts’ maximum exposure under these arrangements are unknown as this would involve future claims that may be made against the Trusts. However, based on experience, the Trusts consider the risk of loss from such claims to be remote.
The following is a summary of significant accounting policies followed by the Trusts.
Investment Valuation: The Trusts value most of their investments on the basis of current market quotations provided by dealers or pricing services selected under the supervision of each Trust’s Board of Trustees (the “Board”). In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, market transactions in comparable investments, various relationships observed in the market between investments, and calculated yield measures based on valuation technology commonly employed in the market for such investments. Exchange-traded options are valued at their last sales price as of the close of options trading on applicable exchanges. In the absence of a last sale, options are valued at the average of the quoted bid and asked prices as of the close of business. Over-the-counter (“OTC”) options quotations are provided by dealers selected under the supervision of the Board. Considerations utilized by dealers in valuing OTC options include, but are not limited to, volatility factors of the underlying security, price movement of the underlying security in relation to the strike price and the time left until expiration of the option. Investments in open-end investment companies are valued at net asset value per share. Short-term debt investments having a remaining maturity of 60 days or less when purchased and debt investments originally purchased with maturities in excess of 60 days but which currently have maturities of 60 days or less may be valued at amortized cost. Any investments or other assets for which current market quotations are not readily available are valued at their fair value (“Fair Value Assets”) as determined in good faith under procedures established by and under the general supervision and responsibility of the Trusts’Board. The investment advisor and/or sub-advisor will submit its recommendations regarding the valuation and/or valuation methodologies for Fair Value Assets to a valuation committee. The valuation committee may accept, modify or reject any recommendations. The pricing of all Fair Value Assets shall be subsequently reported to the Board.
When determining the price for a Fair Value Asset, the investment advisor and/or sub-advisor shall seek to determine the price that the Trust might reasonably expect to receive from the current sale of that asset in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that advisor and/or sub-advisor deems relevant.
Investment Transactions and Investment Income: Investment transactions are recorded on trade date. The cost of investments and the related gain or loss is determined by the use of the specific identification method, generally high cost, for both financial reporting and federal income tax purposes. Interest income is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date, except certain dividends from foreign securities where the ex-dividend date may have passed. These dividends are recorded as soon as the Trusts are informed of the ex-dividend date. Dividend income on foreign securities is recorded net of any applicable withholding tax.
Forward Currency Contracts: Certain Trusts may enter into forward currency contracts primarily to facilitate settlement of purchases and sales of foreign securities and to help manage the overall exposure to foreign currency. A forward contract is a commitment to purchase or sell a foreign currency at a future date (usually the security transaction settlement date) at a negotiated forward rate. In the event that a security fails to settle within the normal settlement period, the forward currency contract is renegotiated at a new rate. The gain or loss arising from the difference between the settlement value of the original and renegotiated forward contracts is isolated and is included in net realized gains or losses from foreign currency transactions. Risks may arise as a result of the potential inability of the counterparties to meet the terms of their contract.
Forward currency contracts, when used by the Trusts, help to manage the overall exposure to the foreign currency backing some of the investments held by the Trusts. Forward currency contracts are not meant to be used to eliminate all of the exposure to the foreign currency, rather they allow the Trusts to limit their exposure to foreign currency within a narrow band consistent with the objectives of the Trusts.
Foreign Currency Translation: Foreign currency amounts are translated into United States dollars on the following basis:
(i) market value of investment securities, other assets and liabilities at the current rate of exchange.
(ii) purchases and sales of investment securities, income and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions.
The Trusts do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the fluctuations arising from changes in the market prices of securities held at period end. The Trusts report forward foreign currency related transactions as components of realized gains for financial reporting purposes, whereas such components are treated as ordinary income for federal income tax purposes.
Net realized and unrealized foreign exchange gains and losses includes realized foreign exchange gains and losses from sales and maturities of foreign portfolio securities, sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of interest and discount recorded on the Trusts’ books and the U.S. dollar equivalent amounts actually received or paid and changes in unrealized foreign exchange gains and losses in the value of portfolio securities and other assets and liabilities arising as a result of changes in the exchange rate.
61
Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of domestic origin, including unanticipated movements in the value of the foreign currency relative to the U.S. dollar.
Option Writing/Purchasing: When the Trusts write or purchase an option, an amount equal to the premium received or paid by the Trusts are recorded as liabilities or assets and is subsequently adjusted to the current market value of the option written or purchased. Premiums received or paid from writing or purchasing options which expire unexercised are treated by the Trusts on the expiration date as realized gains or losses. The difference between the premium and the amount paid or received on effecting a closing purchase or sale transaction, including brokerage commissions, is also treated as a realized gain or loss. If an option is exercised, the premium paid or received is added to the cost of the purchase or the proceeds from the sale in determining whether the Trusts have realized a gain or a loss on investment transactions. The Trusts, as writer of an option, may have no control over whether the underlying securities may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the security underlying the written option.
A call option gives the purchaser of the option the right (but not obligation) to buy, and obligates the seller to sell (when the option is exercised), the underlying position at the exercise price at any time or at a specified time during the option period. A put option gives the holder the right (but not the obligation) to sell and obligates the writer to buy (when the option is exercised) the underlying position at the exercise price at any time or at a specified time during the option period.
Enhanced Dividend Achievers, Global Energy and Resources and Health Sciences will not sell put options if, as a result, more than 50% of the Trust’s total assets not covering written calls and potential obligations arising from those written calls, would be required to cover its potential obligations under put options and its hedging and other investment transactions.
The main risk that is associated with purchasing options is that the option expires without being exercised. In this case, the option expires worthless and the premium paid for the option is considered the loss. The risk associated with writing call options is that the Trusts may forgo the opportunity for a profit if the market value of the underlying position increases and the option is exercised. The risk in writing put options is that the Trusts may incur a loss if the market value of the underlying position decreases and the option is exercised. In addition, the Trusts risk not being able to enter into a closing transaction for the written option as the result of an illiquid market.
Certain Trusts may invest in over-the-counter (“OTC”) options. OTC options differ from exchange-listed options in that they are two-party contracts, with exercise price, premium and other terms negotiated between buyer and seller, and generally do not have as much market liquidity as exchange-listed options. The counterparties to these transactions typically will be major international banks, broker-dealers and financial institutions. The Trusts may be required to restrict the sale of securities being used to cover certain written OTC options. The OTC options written by the Trust will not be issued, guaranteed or cleared by the Options Clearing Corporation. In addition, the Trusts’ ability to terminate the OTC options may be more limited than with exchange-traded options. Banks, broker-dealers or other financial institutions participating in such transaction may fail to settle a transaction in accordance with the terms of the option as written. In the event of default or insolvency of the counterparty, the Trusts may be unable to liquidate an OTC option position.
Segregation: In cases in which the Investment Company Act of 1940, as amended (the “1940 Act”), and the interpretive positions of the Securities and Exchange Commission (the “Commission”) require a Trust to segregate assets in connection with certain investments (e.g., call options written), each Trust will, consistent with certain interpretive letters issued by the Commission, designate on its books and records cash or liquid securities having a market value at least equal to the amount that would otherwise be required to be physically segregated.
Federal Income Taxes: It is each Trust’s intention to continue to
be treated as a regulated investment company under the Internal Revenue Code
and to distribute sufficient amounts of their taxable income to shareholders.
Therefore, no federal income tax provisions have been recorded.
Dividends and
Distributions: All Trusts except Enhanced Dividend Achievers and World Investment
declare and pay dividends and distributions to shareholders quarterly from net
investment income, net realized short-term capital gains and, if necessary,
other sources. Enhanced Dividend Achievers and World Investment declare and pay
dividends and distributions to shareholders monthly from net investment income,
net realized short-term capital gains and, if necessary, other sources. Net
long-term capital gains, if any, in excess of loss carryforwards may be
distributed annually. If the total dividends and distributions made in any tax
year exceeds net investment income and accumulated realized capital gains, a
portion of the total distribution may be treated as a tax-free return of
capital. Dividends and distributions are recorded on the ex-dividend date.
Income distributions and capital gain distributions are determined in
accordance with income tax regulations which may differ from accounting
principles generally accepted in the United States of America.
Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and such differences may be material.
Deferred Compensation and BlackRock Closed-End Share Equivalent Investment Plan: Under the deferred compensation plan approved by the Board, non-interested Trustees are required to defer a portion of their annual complex-wide compensation pursuant to the plan. Deferred amounts earn an approximate return as though equivalent dollar amounts had been invested in common shares of other BlackRock closed-end trusts selected by the Trustees. These amounts are shown on the Statement of Assets and Liabilities as “Investment in Affiliates”. This has the same economic effect for the Trustees as if the Trustees had invested the deferred amounts in such Trusts.
The deferred compensation plan is not funded and obligations thereunder represent general unsecured claims against the general assets of the Trusts. The Trusts may, however, elect to invest in common shares of those Trusts selected by the Trustees in order to match its deferred compensation obligations.
Other: Expenses that are directly related to one of the Trusts are charged directly to that Trust. Other operating expenses are generally prorated to the Trusts on the basis of relative net assets of all of the BlackRock Closed-End Trusts.
62
Note 2. Agreements
The Trusts have an Investment Management Agreement with BlackRock Advisors, Inc. (the “Advisor”), a wholly owned subsidiary of BlackRock, Inc. BlackRock Financial Management, Inc. (“BFM”) a wholly owned subsidiary of BlackRock, Inc., serves as sub-advisor to Dividend Acheivers, Enhanced Dividend Achievers, S&P Quality Rankings, Strategic Dividend Achievers and World Investment. State Street Research and Management Company, a wholly owned subsidiary of BlackRock, serves as sub-advisor to Global Energy and Resources. BlackRock, Inc. is an indirect majority owned subsidiary of The PNC Financial Services Group, Inc. The Investment Management Agreement covers both investment advisory and administration services.
The Trusts’ investment advisory fees paid to the Advisor are computed weekly, accrued daily and payable monthly, based on an annual rate, 0.65% for Dividend Achievers, 1.00% for Enhanced Dividend Achievers, 1.20% for Global Energy and Resources, 1.00% for Global Opportunites, 1.00% for Health Sciences, 0.75% for S&P Quality Rankings, 0.75% for Strategic Dividend Achievers, and 1.00% for World Investment, of the Trust’s average weekly managed assets. Because the Trusts have no present intention of borrowing for investment purposes, the Trusts’“managed assets” will generally be equal to the Trusts’net assets. The Adviser has voluntarily agreed to waive a portion of the investment advisory fees or some other expenses on Global Energy and Resources as a percentage of its average weekly managed assets as follows: 0.20% for the first five years of the Trust’s operations, 0.15% in year six, 0.10% in year seven and 0.05% in year eight.
The Advisor pays BFM fees for its sub-advisory services.
Pursuant to the Investment Management Agreement, the Advisor provides continuous supervision of the investment portfolios and pays the compensation of officers of the Trusts who are affiliated persons of the Advisor, as well as occupancy and certain clerical and accounting costs of the Trusts. The Trusts bear all other costs and expenses, which include reimbursements to the Advisor for cost of employees that provide pricing, secondary market support and compliance support to the Trusts. For the six months ended April 30, 2006, the Trusts reimbursed the Advisor the following amounts which are included in miscellaneous expenses in the Statement of Operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
Trust |
|
Amount |
|
|
Trust |
|
Amount |
|
||
|
|
|
|
|
|
|
|
|
|
||
|
Dividend Achievers |
|
$ |
14,837 |
|
|
Health Sciences |
|
$ |
5,082 |
|
|
Enhanced Dividend Achievers |
|
|
14,836 |
|
|
S&P Quality Rankings |
|
|
2,720 |
|
|
Global Energy and Resources |
|
|
17,356 |
|
|
Strategic Dividend Achievers |
|
|
12,364 |
|
|
Global Opportunities |
|
|
6,943 |
|
|
World Investment |
|
|
6,934 |
|
Pursuant to terms of each Trust’s custody agreement, each Trust may receive earnings credits from its custodian for positive cash balances maintained, which are used to offset custody fees. These credits are shown on the Statement of Operations as “fees paid indirectly.”
Dividend Achievers Universe: Dividend Achievers, Enhanced Dividend Achievers and Strategic Dividend Achievers have been granted a revocable license by Mergent®, Inc. (“Mergent®”) to use the Dividend AchieversTM universe of common stocks. If Mergent® revokes each such Trust’s license to use the Dividend AchieversTM universe, the Board of that Trust may need to adopt a new investment strategy and/or new investment policies. There is no assurance that a Trust would pursue or achieve its investment objective during the period in which it implements these replacement investment policies or strategies. “Mergent®’’ and “Dividend AchieversTM’’ are trademarks of Mergent® and have been licensed for use by Dividend Achievers, Enhanced Dividend Achievers and Strategic Dividend Achievers. The products are not sponsored, endorsed, sold or promoted by Mergent® and Mergent® makes no representation regarding the advisability of investing in any of these three Trusts. The Trusts are required to pay a quarterly licensing fee, which is shown on the Statement of Operations.
S&P Quality Rankings: S&P Quality Rankings has been granted a license by Standard & Poor’s®, (“S&P®”) to use the S&P Quality Rankings and the S&P International Quality Rankings. If S&P® terminates the license to use either the S&P Quality Rankings or the S&P International Quality Rankings, the Board may need to adopt a new investment strategy and/or new investment polices. There is no assurance that the Trust would pursue or achieve its investment objective during the period in which it implements these replacement investment policies or strategies. “Standard & Poor’s®”, “S&P®”, “Standard & Poor’s Earnings and Dividend Rankings”, “S&P Earnings and Dividend Rankings”, “Standard & Poor’s Quality Rankings”, “Standard & Poor’s International Quality Rankings”, “S&P International Quality Rankings” and “S&P Quality Rankings” are trademarks of Standard & Poor’s® and have been licensed for use by the Trust. The Trust is not sponsored, managed, advised, sold or promoted by Standard & Poor’s®. The Trust is required to pay a quarterly licensing fee, which is shown on the Statement of Operations.
Note 3. Portfolio Securities
Purchases and sales of investment securities, other than short-term investments, for the six months ended April 30, 2006, were as follows:
|
|
|
|
|
|
|
|
|
|
Trust |
|
Purchases |
|
Sales |
|
||
|
|
|
|
|
|
|
||
|
Dividend Achievers |
|
$ |
86,549,631 |
|
$ |
100,359,937 |
|
|
Enhanced Dividend Achievers |
|
|
570,204,458 |
|
|
604,038,616 |
|
|
Global Energy and Resources |
|
|
176,216,444 |
|
|
215,890,209 |
|
|
Global Opportunities |
|
|
347,609,063 |
|
|
356,157,498 |
|
|
Health Sciences |
|
|
227,019,284 |
|
|
226,374,359 |
|
|
S&P Quality Rankings |
|
|
2,497,356 |
|
|
4,383,641 |
|
|
Strategic Dividend Achievers |
|
|
2,326,300 |
|
|
11,885,132 |
|
|
World Investment |
|
|
851,382,050 |
|
|
749,370,732 |
|
63
Transactions in options written during the six months ended April 30, 2006, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Calls |
|
Puts |
|
||||||||
|
|
|
|
|
|
|
||||||||
|
Trust |
|
Contracts |
|
Premiums |
|
Contracts |
|
Premiums |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Enhanced Dividends Achievers |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at beginning of period |
|
|
9,088,434 |
|
|
11,692,285 |
|
|
— |
|
|
— |
|
|
Options written |
|
|
21,314,892 |
|
|
28,531,011 |
|
|
294,800 |
|
|
705,899 |
|
|
Options expired |
|
|
(8,686,977 |
) |
|
(12,448,000 |
) |
|
(1,520 |
) |
|
(42,694 |
) |
|
Options exercised |
|
|
(9,502,423 |
) |
|
(11,208,419 |
) |
|
(250 |
) |
|
(22,124 |
) |
|
Options closed |
|
|
(4,914,233 |
) |
|
(7,755,726 |
) |
|
(290,780 |
) |
|
(505,210 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at end of period |
|
|
7,299,693 |
|
|
8,811,151 |
|
|
2,250 |
|
|
135,871 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global Energy and Resources |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at beginning of period |
|
|
1,200,301 |
|
|
3,523,235 |
|
|
7,176 |
|
|
2,577,037 |
|
|
Options written |
|
|
1,328,059 |
|
|
20,389,335 |
|
|
53,075 |
|
|
5,687,853 |
|
|
Options expired |
|
|
(964,123 |
) |
|
(3,273,772 |
) |
|
(21,167 |
) |
|
(2,849,867 |
) |
|
Options exercised |
|
|
(707,134 |
) |
|
(1,891,642 |
) |
|
(4,297 |
) |
|
(776,007 |
) |
|
Options closed |
|
|
(481,450 |
) |
|
(11,078,848 |
) |
|
(29,757 |
) |
|
(4,154,064 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at end of period |
|
|
375,653 |
|
|
7,668,308 |
|
|
5,030 |
|
|
484,952 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global Opportunities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at beginning of period |
|
|
18,556,352 |
|
|
2,763,454 |
|
|
1,065 |
|
|
203,297 |
|
|
Options written |
|
|
49,359,052 |
|
|
12,013,919 |
|
|
40,568,990 |
|
|
876,546 |
|
|
Options expired |
|
|
(17,336,512 |
) |
|
(2,902,365 |
) |
|
(40,200,745 |
) |
|
(565,498 |
) |
|
Options exercised |
|
|
(20,430,284 |
) |
|
(5,723,159 |
) |
|
(132,605 |
) |
|
(176,583 |
) |
|
Options closed |
|
|
(17,862,631 |
) |
|
(3,009,624 |
) |
|
(136,705 |
) |
|
(308,393 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at end of period |
|
|
12,285,977 |
|
|
3,142,225 |
|
|
100,000 |
|
|
29,369 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Science |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at beginning of period |
|
|
189,062 |
|
|
972,545 |
|
|
136,308 |
|
|
479,035 |
|
|
Options written |
|
|
849,008 |
|
|
4,173,651 |
|
|
103,636 |
|
|
1,117,063 |
|
|
Options expired |
|
|
(248,968 |
) |
|
(967,558 |
) |
|
(77,986 |
) |
|
(481,612 |
) |
|
Options exercised |
|
|
(323,283 |
) |
|
(824,845 |
) |
|
(608 |
) |
|
(53,637 |
) |
|
Options closed |
|
|
(378,964 |
) |
|
(2,633,772 |
) |
|
(160,365 |
) |
|
(969,911 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at end of period |
|
|
86,855 |
|
|
720,021 |
|
|
985 |
|
|
90,938 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
World Investment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at beginning of period |
|
|
606,500 |
|
|
41,658 |
|
|
— |
|
|
— |
|
|
Options written |
|
|
237,064,669 |
|
|
38,101,255 |
|
|
131,441,270 |
|
|
1,905,607 |
|
|
Options expired |
|
|
(146,382,309 |
) |
|
(8,014,043 |
) |
|
(130,647,200 |
) |
|
(1,247,226 |
) |
|
Options exercised |
|
|
(49,231,603 |
) |
|
(14,787,743 |
) |
|
(234,345 |
) |
|
(285,312 |
) |
|
Options closed |
|
|
(15,183,349 |
) |
|
(5,974,416 |
) |
|
(305,225 |
) |
|
(249,975 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at end of period |
|
|
26,873,908 |
|
|
9,366,711 |
|
|
254,500 |
|
|
123,094 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of April 30, 2006, portfolio securities subject to covered call options written by Enhanced Dividend Achievers, Global Energy and Resources, Global Opportunities, Health Sciences and World Investment were valued at $398,764,975, $153,612,716, $142,404,076, $56,715,973 and $347,466,160, respectively.
64
Details of open forward foreign currency exchange contracts at April 30, 2006, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trust |
|
|
Foreign |
|
|
Settlement |
|
Contract to |
|
Value at |
|
Value at |
|
Unrealized |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Global Energy and Resources |
|
|
Norwegian Krone |
|
|
5/02/06 |
|
|
11,824,829 |
|
$ |
1,899,876 |
|
$ |
1,917,996 |
|
$ |
18,120 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global Opportunities |
|
|
Swedish Krona |
|
|
5/02/06 |
|
|
3,258,381 |
|
|
437,925 |
|
|
442,769 |
|
$ |
4,845 |
|
|
|
|
|
Swedish Krona |
|
|
5/03/06 |
|
|
5,926,859 |
|
|
802,554 |
|
|
805,378 |
|
|
2,824 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,669 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
World Investment |
|
|
Euro |
|
|
5/02/06 |
|
|
3,783,275 |
|
|
4,737,417 |
|
|
4,773,005 |
|
$ |
35,588 |
|
|
|
|
|
Euro |
|
|
6/13/06 |
|
|
19,700 |
|
|
24,881 |
|
|
24,927 |
|
|
46 |
|
|
|
|
|
Mexican Peso |
|
|
5/02/06 |
|
|
59,918,640 |
|
|
5,407,575 |
|
|
5,413,927 |
|
|
6,352 |
|
|
|
|
|
Mexican Peso |
|
|
6/19/06 |
|
|
7,541,340 |
|
|
679,561 |
|
|
678,885 |
|
|
(676 |
) |
|
|
|
|
Danish Krone |
|
|
5/01/06 |
|
|
20,537,382 |
|
|
3,447,315 |
|
|
3,473,053 |
|
|
25,738 |
|
|
|
|
|
Swedish Krona |
|
|
5/03/06 |
|
|
1,136,599 |
|
|
153,906 |
|
|
154,448 |
|
|
542 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
67,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trust |
|
|
Foreign |
|
|
Settlement |
|
Contract to |
|
Value at |
|
Value at |
|
Unrealized |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Global Opportunities |
|
|
Japanese Yen |
|
|
5/02/06 |
|
|
1,974,775 |
|
$ |
17,292 |
|
$ |
17,343 |
|
$ |
(51 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
World Investment |
|
|
Euro |
|
|
6/13/06 |
|
|
9,700 |
|
|
11,831 |
|
|
12,274 |
|
$ |
(443 |
) |
|
|
|
|
Euro |
|
|
6/13/06 |
|
|
20,600 |
|
|
26,089 |
|
|
26,066 |
|
|
23 |
|
|
|
|
|
New Zealand Dollar |
|
|
6/19/06 |
|
|
10,131,609 |
|
|
6,144,821 |
|
|
6,448,632 |
|
|
(303,811 |
) |
|
|
|
|
New Zealand Dollar |
|
|
6/19/06 |
|
|
96,500 |
|
|
61,166 |
|
|
61,421 |
|
|
(255 |
) |
|
|
|
|
Mexican Peso |
|
|
5/02/06 |
|
|
71,341,148 |
|
|
6,411,247 |
|
|
6,446,004 |
|
|
(34,757 |
) |
|
|
|
|
Mexican Peso |
|
|
6/19/06 |
|
|
24,751,889 |
|
|
2,212,202 |
|
|
2,236,448 |
|
|
(24,246 |
) |
|
|
|
|
Mexican Peso |
|
|
6/19/06 |
|
|
1,875,000 |
|
|
170,109 |
|
|
168,791 |
|
|
1,318 |
|
|
|
|
|
Swiss Franc |
|
|
5/02/06 |
|
|
130,271 |
|
|
104,551 |
|
|
105,040 |
|
|
(489 |
) |
|
|
|
|
Japanese Yen |
|
|
5/02/06 |
|
|
393,588,151 |
|
|
3,446,481 |
|
|
3,456,621 |
|
|
(10,140 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(372,800 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note 4. Income Tax Information
The tax character of distributions paid during the year ended October 31, 2005, was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period ended October 31, 2005 |
|
||||||||||
|
|
|
|
|
||||||||||
|
Distributions paid from: |
|
Ordinary |
|
Non-taxable |
|
Long-term |
|
Total |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Dividend Achievers |
|
$ |
23,075,649 |
|
$ |
10,447,397 |
|
$ |
15,543,438 |
|
$ |
49,066,484 |
|
|
Enhanced Dividend Achievers |
|
|
7,018,953 |
|
|
— |
|
|
11,240 |
|
|
7,030,193 |
|
|
Global Energy and Resources |
|
|
33,486,994 |
|
|
— |
|
|
— |
|
|
33,486,994 |
|
|
Global Opportunities |
|
|
6,941,490 |
|
|
— |
|
|
— |
|
|
6,941,490 |
|
|
Health Sciences |
|
|
5,769,328 |
|
|
— |
|
|
— |
|
|
5,769,328 |
|
|
S&P Quality Rankings |
|
|
2,840,269 |
|
|
— |
|
|
1,684,502 |
|
|
4,524,771 |
|
|
Strategic Dividend Achievers |
|
|
12,358,425 |
|
|
576,314 |
|
|
11,282,486 |
|
|
24,217,225 |
|
For Federal income tax purposes, the Trusts had no capital loss carryforwards as of October 31, 2005.
65
Note 5. Capital
There are an unlimited number
of $0.001 par value common shares of beneficial interest authorized for the
Trusts.
At April 30. 2006, the shares
owned by affiliates of the Advisor of the Trusts were as follows:
|
|
|
|
|
|
|
Trust |
|
Common
Shares |
|
|
|
|
|
|
|
|
|
Dividend Achievers |
|
8,028 |
|
|
|
Enhanced Dividend Achievers |
|
8,028 |
|
|
|
Global Energy and Resources |
|
4,817 |
|
|
|
Global Opportunities |
|
4,817 |
|
|
|
Health Sciences |
|
4,817 |
|
|
|
S&P Quality Rankings |
|
8,028 |
|
|
|
Strategic Dividend Achievers |
|
8,028 |
|
|
|
World Investment |
|
8,028 |
|
|
Transactions in common shares of beneficial interest from the period ended October 31, 2005 and the six months ended April 30, 2006, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trust |
|
Initial Public |
|
Underwriters’ Exercising |
|
Reinvestment |
|
Reinvestment |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Enhanced Dividend Achievers |
|
63,008,028 |
|
|
6,000,000 |
|
|
80,554 |
|
|
30,805 |
|
|
|
Global Energy and Resources |
|
26,604,817 |
|
|
3,161,400 |
|
|
— |
|
|
— |
|
|
|
Global Opportunities |
|
12,004,817 |
|
|
200,000 |
|
|
172,115 |
|
|
— |
|
|
|
Health Sciences |
|
7,504,817 |
|
|
— |
|
|
— |
|
|
— |
|
|
|
World Investment |
|
46,674,695 |
|
|
5,237,000 |
|
|
— |
|
|
8,198 |
|
|
Offering costs incurred in connection with the Trusts’ offering of common shares have been charged against the proceeds from the initial common share offering of the common shares for Enhanced Dividend Achievers, Global Energy and Resources, Global Opportunities, Health Sciences and World Investment in the amounts of $1,204,762, $1,154,191, $610,000, $312,750 and $1,216,509, respectively.
Note 6. Distributions
Subsequent to April 30, 2006, the Board declared distributions per common share for Enhanced Dividend Achievers, Global Opportunities, S&P Quality Rankings and World Investment payable May 31, 2006, to shareholders of record on May 15, 2006 and for Dividend Achievers, Global Energy and Resources, Health Sciences and Strategic Dividend Achievers payable June 30, 2006, to shareholders of record on June 15, 2006. The per share distributions declared were as follows:
|
|
|
|
|
|
|
Trust |
|
Distribution
per |
|
|
|
|
|
|
|
|
|
Dividend Achievers |
|
$ |
0.225000 |
|
|
Enhanced Dividend Achievers |
|
|
0.101875 |
|
|
Global Energy and Resources |
|
|
0.375000 |
|
|
Global Opportunities |
|
|
0.568750 |
|
|
Health Sciences |
|
|
0.383475 |
|
|
S&P Quality Rankings |
|
|
0.225000 |
|
|
Strategic Dividend Achievers |
|
|
0.225000 |
|
|
World Investment |
|
|
0.113750 |
|
66
|
|
|
|
Pursuant to each Trust’s Dividend Reinvestment Plan (the “Plan”), common shareholders are automatically enrolled to have all distributions reinvested by The Bank of New York (the “Plan Agent”) in the respective Trust’s shares pursuant to the Plan. Shareholders who elect not to participate in the Plan will receive all distributions in cash paid by check and mailed directly to the shareholders of record (or if the shares are held in street or other nominee name, then to the nominee) by the Plan Agent.
The Plan Agent serves as agent for the shareholders in administering the Plan. After a Trust declares a distribution, the Plan Agent will acquire shares for the participants’ accounts, depending upon the circumstances described below, either (i) through receipt of unissued but authorized shares from the Trust (“newly issued shares”) or (ii) by purchase of outstanding shares on the open market, on the Trust’s primary exchange or elsewhere (“open-market purchases”). If, on the distribution payment date, the net asset value per share (“NAV”) is equal to or less than the market price per share plus estimated brokerage commissions (such condition being referred to herein as “market premium”), the Plan Agent will invest the distribution amount in newly issued shares on behalf of the participants. The number of newly issued shares to be credited to each participant’s account will be determined by dividing the dollar amount of the distribution by the NAV on the date the shares are issued. However, if the NAV is less than 95% of the market price on the payment date, the dollar amount of the distribution will be divided by 95% of the market price on the payment date. If, on the distribution payment date, the NAV is greater than the market value per share plus estimated brokerage commissions (such condition being referred to herein as “market discount”), the Plan Agent will invest the distribution amount in shares acquired on behalf of the participants in open-market purchases.
Participation in the Plan is completely voluntary and may be terminated or resumed at any time without penalty by notice if received and processed by the Plan Administrator prior to the distribution record date; otherwise such termination or resumption will be effective with respect to any subsequently declared distribution.
The Plan Agent’s fees for the handling of the reinvestment of distributions will be paid by each Trust. However, each participant will pay a pro rata share of brokerage commissions incurred with respect to the Plan Agent’s open market purchases in connection with the reinvestment of distributions. The automatic reinvestment of distributions will not relieve participants of any Federal income tax that may be payable on such distributions.
Each Trust reserves the right to amend or terminate the Plan. There is no direct service charge to participants in the Plan; however, each Trust reserves the right to amend the Plan to include a service charge payable by the participants. Participants that request a sale of shares through the Plan Agent are subject to a $2.50 sales fee and a $0.15 per share sold brokerage commission. All correspondence concerning the Plan should be directed to the Plan Agent at The Bank of New York, Dividend Reinvestment Department, P.O. Box 1958, Newark, New Jersey 07101-9774; or by calling 1-866-216-0242.
67
|
|
|
|
On February 15, 2006, BlackRock, Inc. (“BlackRock”) and Merrill Lynch & Co., Inc. (“Merrill Lynch”) announced that they had entered into an agreement pursuant to which Merrill Lynch would contribute its investment management business, Merrill Lynch Investment Managers, to BlackRock, one of the largest publicly traded investment management firms in the United States, to form a new asset management company that will be one of the world’s preeminent, diversified global money management organizations with approximately $1 trillion in assets under management. Based in New York, BlackRock currently manages assets for institutional and individual investors worldwide through a variety of equity, fixed income, cash management and alternative investment products. The new company will operate under the BlackRock name and be governed by a board of directors with a majority of independent members. The new company will offer a full range of equity, fixed income, cash management and alternative investment products with strong representation in both retail and institutional channels, in the U.S. and in non-U.S. markets, It will have over 4,500 employees in 18 countries and a major presence in most key markets, including the United States, the United Kingdom, Asia, Australia, the Middle East and Europe. Merrill Lynch will own no more than 49.8% of the total issued and outstanding capital stock of the new company and it will own no more than 45% of the new company’s common stock, and The PNC Financial Services Group, Inc. (“PNC”), which currently holds a majority interest in BlackRock, will retain approximately 34% of the new company’s common stock. Each of Merrill Lynch and PNC has agreed that it will vote all of its shares on all matters in accordance with the recommendation of BlackRock’s board. Completion of the transaction is subject to various regulatory approvals, client consents, approval by BlackRock shareholders and customary conditions. The transaction has been approved by the boards of directors of Merrill Lynch, BlackRock and PNC and is expected to close at the end of the third quarter of 2006.
The Trusts listed for trading on the New York Stock Exchange (NYSE) have filed with the NYSE their chief executive officer certification regarding compliance with the NYSE’s listing standards and the Trusts listed for trading on the American Stock Exchange (AMEX) have filed with the AMEX their corporate governance certification regarding compliance with the AMEX’s listing standards. All of the Trusts have filed with the Securities and Exchange Commission the certification of its chief executive officer and chief financial officer required by section 302 of the Sarbanes-Oxley Act.
During the period, there were no material changes in any Trusts’ investment objective or policies or to the Trusts’ charters or by-laws that were not approved by the shareholders or in the principle risk factors associated with investment in the Trusts. There have been no changes in the persons who are primarily responsible for the day-to-day management of the Trusts’ portfolios.
The Trusts do not make available copies of their respective Statements of Additional Information because the Trusts’ share are not continuously offered, which means that the Statement of Additional Information of each Trust has not been updated after completion of such Trust’s offering and the information contained in each Trust’s Statement of Additional Information may have become outdated.
Quarterly performance and other information regarding the Trusts may be found on BlackRock’s website, which can be accessed at http://www.blackrock.com/funds/cefunds/index.html. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Trusts and does not, and is not intended, to incorporate BlackRock’s website into this report.
Certain officers of the Trusts listed on the inside back cover of this Report to Shareholders are also officers of the Advisor or Sub-Advisor. They serve in the following capacities for the Advisor or Sub-Advisor; Robert S. Kapito—Director and Vice Chairman of the Advisor and the Sub-Advisor, Henry Gabbay, Anne Ackerley and Bartholomew Battista—Managing Directors of the Advisor and the Sub-Advisor, James Kong and Vincent B. Tritto—Managing Director of the Sub-Advisor, and Brian P. Kindelan—Managing Director of the Advisor.
68
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Set forth below is a summary of notices sent by each Trust, if any, pursuant to Section 19 of the Investment Company Act of 1940. Section 19 requires each Trust to accompany dividend payments with a notice if any part of that payment is from a source other than accumulated net investment income, not including profits or losses from the sale of securities or other properties. These notices are not for tax reporting purposes and were provided only for informational purposes in order to comply with the requirements of Section 19. In January 2007, after the completion of each Trust’s tax year, shareholders will receive a Form 1099-DIV which will reflect the amount of income, capital gain and return of capital paid by the Trust taxable in calendar year 2006 and reportable on your 2006 federal and other income tax returns.
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Total |
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Net Investment |
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Distributions |
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Distributions |
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BlackRock Dividend Achievers |
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Dec-05 |
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$ |
0.225000 |
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$ |
0.086066 |
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$ |
— |
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|
$ |
0.138934 |
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Mar-06 |
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0.225000 |
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|
0.096591 |
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— |
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|
0.128409 |
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BlackRock Enhanced Dividend |
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Nov-05 |
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|
0.101875 |
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|
0.033958 |
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|
|
0.067917 |
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|
|
— |
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Dec-05 |
|
|
0.101875 |
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|
0.048815 |
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|
|
— |
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|
|
0.053060 |
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Jan-06 |
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|
0.101875 |
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|
0.011091 |
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|
|
0.015544 |
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|
|
0.075240 |
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Feb-06 |
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0.101875 |
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|
0.046023 |
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|
0.045532 |
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|
0.010320 |
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Mar-06 |
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0.101875 |
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0.019866 |
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0.016602 |
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|
0.065407 |
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Apr-06 |
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0.101875 |
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|
0.043406 |
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|
0.058469 |
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— |
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BlackRock Global Energy and |
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Dec-05 |
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|
0.375000 |
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|
0.212097 |
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|
|
0.162903 |
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|
|
— |
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Mar-06 |
|
|
0.375000 |
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|
0.150958 |
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|
|
0.224042 |
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|
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— |
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BlackRock Global Opportunities (BOE) |
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Nov-05 |
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0.568750 |
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0.013140 |
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0.177575 |
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0.378035 |
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Feb-06 |
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|
0.568750 |
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|
0.092067 |
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|
|
0.476683 |
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— |
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BlackRock Health Sciences |
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Dec-05 |
|
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0.384375 |
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— |
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0.384375 |
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— |
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Mar-06 |
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0.384375 |
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— |
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|
0.384375 |
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— |
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BlackRock S&P Quality Ranking |
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Nov-05 |
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|
0.225000 |
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— |
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|
0.225000 |
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— |
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Feb-06 |
|
|
0.225000 |
|
|
0.195815 |
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— |
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|
|
0.029185 |
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BlackRock Strategic Dividend |
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Dec-05 |
|
|
0.225000 |
|
|
0.083658 |
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|
|
— |
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|
|
0.141342 |
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Mar-06 |
|
|
0.225000 |
|
|
0.093469 |
|
|
|
— |
|
|
|
0.131531 |
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BlackRock World Investment Trust (BWC) |
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|
Dec-05 |
|
|
0.113750 |
|
|
0.022195 |
|
|
|
0.091555 |
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|
|
— |
|
|
|
|
|
Jan-06 |
|
|
0.113750 |
|
|
— |
|
|
|
0.113750 |
|
|
|
— |
|
|
|
|
|
Feb-06 |
|
|
0.113750 |
|
|
0.006664 |
|
|
|
0.107086 |
|
|
|
— |
|
|
|
|
|
Mar-06 |
|
|
0.113750 |
|
|
0.038181 |
|
|
|
0.075569 |
|
|
|
— |
|
|
|
|
|
Apr-06 |
|
|
0.113750 |
|
|
0.053925 |
|
|
|
0.059825 |
|
|
|
— |
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|
69
[THIS PAGE INTENTIONALLY LEFT BLANK]
[THIS PAGE INTENTIONALLY LEFT BLANK]
BlackRock Closed-End Funds
|
|
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Trustees |
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Ralph L. Schlosstein, Chairman |
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Andrew F. Brimmer, Lead Trustee |
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Richard E. Cavanagh |
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Kent Dixon |
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Frank J. Fabozzi |
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Kathleen F. Feldstein |
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R. Glenn Hubbard |
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Robert S. Kapito |
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|
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Officers |
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Robert S. Kapito, President |
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Henry Gabbay, Treasurer |
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Bartholomew Battista, Chief Compliance Officer |
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Anne Ackerley, Vice President |
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James Kong, Assistant Treasurer |
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Vincent B. Tritto, Secretary |
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Brian P. Kindelan, Assistant Secretary |
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Investment Advisor |
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BlackRock Advisors, Inc. |
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100 Bellevue Parkway |
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Wilmington, DE 19809 |
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(800) 227-7BFM |
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Sub-Advisor |
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BlackRock Financial Management, Inc.1 |
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40 East 52nd Street |
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New York, NY 10022 |
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|
|
State Street Research & Management Co.2 |
|
One Financial Center |
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Boston, MA 02111 |
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|
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Accounting Agent |
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The Bank of New York |
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2 Hanson Place |
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Brooklyn, NY 11217 |
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|
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Custodian |
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The Bank of New York |
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100 Colonial Center Parkway |
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Suite 200 |
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Lake Mary, FL 32746 |
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|
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Transfer Agent |
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The Bank of New York |
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P.O. Box 11258 |
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Church Street Station |
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New York, NY 10286 |
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(866) 216-0242 |
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|
|
Independent Registered Public Accounting Firm |
|
Deloitte & Touche LLP |
|
200 Berkeley Street |
|
Boston, MA 02116 |
|
|
|
Legal Counsel |
|
Skadden, Arps, Slate, Meagher & Flom LLP |
|
Four Times Square |
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New York, NY 10036 |
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|
|
Legal Counsel – Independent Trustees |
|
Debevoise & Plimpton LLP |
|
919 Third Avenue |
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New York, NY 10022 |
This report is for shareholder information. This is not a prospectus intended for use in the purchase or sale of Trust shares. Statements and other information contained in this report are as dated and are subject to change.
BlackRock Closed-End Funds
c/o BlackRock Advisors, Inc.
100 Bellevue Parkway
Wilmington, DE 19809
(800) 227-7BFM
1 For all Trusts except
Global Energy and Resources.
2 For Global Energy and
Resources.
The Trusts will mail only one copy of shareholder documents, including annual and semi-annual reports and proxy statements, to shareholders with multiple accounts at the same address. This practice is commonly called “householding” and is intended to reduce expenses and eliminate duplicate mailings of shareholder documents. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact the Trusts at (866) 216-0242.
The Trusts have delegated to the Advisor the voting of proxies relating to their voting securities pursuant to the Advisor’s proxy voting policies and procedures. You may obtain a copy of these proxy voting policies and procedures, without charge, by calling (866)216-0242. These policies and procedures are also available on the website of the Securities and Exchange Commission (the “Commission”) at http://www.sec.gov.
Information on how proxies relating to the Trusts’ voting securities were voted (if any) by the Advisor during the most recent 12-month period ended June 30th is available without charge, upon request, by calling (866) 216-0242 or on the website of the Commission at http://www.sec.gov.
The Trusts file their complete schedule of portfolio holdings for the first and third quarters of their respective fiscal years with the Commission on Form N-Q. Each Trust’s Form N-Q will be available on the Commission’s website at http://www.sec.gov. Each Trust’s Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information regarding the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. Each Trust’s Form N-Q may also be obtained, upon request, by calling (866) 216-0242.
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This report is for shareholder information. This is not a prospectus intended for use in the purchase or sale of Trust shares. Statements and other information contained in this report are as dated and are subject to change. |
|
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CEF-SEMI-7
Item 2. Code of Ethics.
Not applicable for semi-annual reports.
Item 3. Audit Committee Financial Expert.
Not applicable for semi-annual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable for semi-annual reports.
Item 5. Audit Committee of Listed Registrants.
Not applicable for semi-annual reports.
Item 6. Schedule of Investments.
The
Registrant’s Schedule of Investments is included as part of the Report to
Stockholders filed under Item 1 of this Form.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable for semi-annual reports.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable for semi-annual reports.
Item 9. Purchases of Equity Securities by Closed-End Management Company and Affiliated Purchasers.
No such purchases were made during the period covered by this report.
Item 10. Submission of Matters to a Vote of Security Holders.
No matters were voted on by shareholders during the period covered by this report.
Item 11. Controls and Procedures. (a) The Registrant's principal executive officer and principal financial officer 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-CSR was recorded, processed, summarized, and reported within the required time periods and that information required to be disclosed by the Registrant in this Form N-CSR 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 Investment Company Act of 1940 (17 CFR 270.30a -3(d))) that occurred during the Registrant’s last fiscal half-year that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.
Item 12. Exhibits.
(a) (1) Not applicable.
(a) (2) Separate certifications of the Principal Executive and Financial Officers pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 furnished as EX-99.CERT.
(b) Certification of Principal Executive and Financial Officers pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 furnished as EX-99.906 CERT.
2
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 Health Sciences TrustBy: /s/ Henry Gabbay
Name: Henry Gabbay
Title: Treasurer
Date: July 6, 2006
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: /s/ Robert S. KapitoName: Robert S. Kapito
Title: Principal Executive Officer
Date: July 6, 2006
By: /s/ Henry Gabbay
Name: Henry Gabbay
Title: Principal Financial Officer
Date: July 6, 2006
3