UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-07250
Name of Fund: BlackRock Broad Investment Grade 2009 Term Trust, Inc. (BCT)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Broad Investment Grade 2009 Term Trust, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 10/31/2008
Date of reporting period: 11/01/2007 01/31/2008
Item 1 Schedule of Investments
BlackRock Broad Investment Grade 2009 Term Trust Inc. (BCT) |
Schedule of Investments as of January 31, 2008 (Unaudited) |
Face | |||||||
Amount | Asset-Backed Securities** | Value | |||||
$ 233,792 | Global Rated Eligible Asset Trust Series 1998-A Class 1, 7.45% due | ||||||
9/15/2007 (d)(f)(h) | $ | 23 | |||||
567,535 | Structured Mortgage Asset Residential Trust Series 2, 8.24% due | ||||||
11/07/2007 (f)(h) | 57 | ||||||
Total Asset-Backed Securities (Cost - $41,827) - 0.0% | 80 | ||||||
U.S. Government Agency Mortgage-Backed Securities | |||||||
Fannie Mae Guaranteed Pass-Through Certificates: | |||||||
299,370 | 5.50% due 1/01/2017 - 2/01/2017 | 307,503 | |||||
14,218 | 6.50% due 7/01/2029 | 14,877 | |||||
Total U.S. Government Agency Mortgage-Backed Securities | |||||||
(Cost - $310,294) - 0.9% | 322,380 | ||||||
U.S. Government Agency Mortgage-Backed Securities** - | |||||||
Collateralized Mortgage Obligations | |||||||
2,609,610 | Fannie Mae Trust Series 1992-174 Class S, 0.098% due 9/25/2022 (a) | 7,207 | |||||
631,161 | Fannie Mae Trust Series 1993-49 Class H, 7% due 4/25/2013 | 662,604 | |||||
2,038,130 | Fannie Mae Trust Series 1993-49 Class L, 0.445% due 4/25/2013 | 13,945 | |||||
79,654 | Fannie Mae Trust Series 1993-192 Class SC, 6.967% due 10/25/2008 (a) | 78,501 | |||||
26,607 | Fannie Mae Trust Series 1993-214 Class SH, 9.539% due 12/25/2008 (a) | 27,096 | |||||
36,970 | Fannie Mae Trust Series 1993-214 Class SK, 10% due 12/25/2008 (a) | 37,641 | |||||
4,179 | Fannie Mae Trust Series 1994-13 Class SJ, 8.75% due 2/25/2009 (a) | 4,228 | |||||
21,828 | Fannie Mae Trust Series 1996-20 Class SL, 10.475% due 9/25/2008 (a) | 527 | |||||
3,148,362 | Fannie Mae Trust Series 2003-70 Class ID, 5% due 4/25/2022 | 35,335 | |||||
780,570 | Fannie Mae Trust Series 2004-13 Class IG, 5% due 10/25/2022 | 15,789 | |||||
260,020 | Fannie Mae Trust Series G-21 Class L, 0.95% due 7/25/2021 | 5,706 | |||||
761,020 | Freddie Mac Multiclass Certificates Series 65 Class I, 0.50% due 8/15/2020 | 1,057 | |||||
150,630 | Freddie Mac Multiclass Certificates Series 141 Class H, 1.06% due 5/15/2021 | 214 | |||||
2,005 | Freddie Mac Multiclass Certificates Series 1506 Class S, 10.578% due 5/15/2008 (a) | 2,003 | |||||
1,621,970 | Freddie Mac Multiclass Certificates Series 1510 Class G, 7.05% due 5/15/2013 | 1,629,555 | |||||
72,579 | Freddie Mac Multiclass Certificates Series 1515 Class S, 9.793% due 5/15/2008 (a) | 72,408 | |||||
736,899 | Freddie Mac Multiclass Certificates Series 1598 Class J, 6.50% due 10/15/2008 (j) | 735,884 | |||||
102,636 | Freddie Mac Multiclass Certificates Series 1618 Class SA, 8.25% due | ||||||
11/15/2008 (a) | 102,968 | ||||||
4,647 | Freddie Mac Multiclass Certificates Series 1661 Class SB, 9.841% due | ||||||
1/15/2009 (a) | 4,750 | ||||||
7,032 | Freddie Mac Multiclass Certificates Series 1688 Class S, 11.023% due | ||||||
12/15/2013 (a) | 7,031 | ||||||
97,644 | Freddie Mac Multiclass Certificates Series 2412 Class SE, 7.40% due 2/15/2009 (a) | 101,573 | |||||
262,746 | Freddie Mac Multiclass Certificates Series 2517 Class SE, 5.659% due | ||||||
10/15/2009 (a) | 274,141 | ||||||
1,303,995 | Freddie Mac Multiclass Certificates Series 2523 Class EH, 5.50% due 4/15/2020 | 55,424 | |||||
80,687 | Freddie Mac Multiclass Certificates Series 2564 Class NC, 5% due 2/15/2033 | 77,265 | |||||
34,484 | Freddie Mac Multiclass Certificates Series 2633 Class PI, 4.50% due 3/15/2012 | 69 | |||||
2,998,025 | Freddie Mac Multiclass Certificates Series 2739 Class PI, 5% due 3/15/2022 | 62,999 | |||||
374,804 | Freddie Mac Multiclass Certificates Series 2929 Class PA, 5% due 8/15/2018 | 374,379 | |||||
1,343,528 | Freddie Mac Multiclass Certificates Series 2976 Class KI, 5.50% due 11/15/2034 | 172,293 | |||||
1,584,758 | Freddie Mac Multiclass Certificates Series 3189 Class KI, 6% due 1/15/2035 | 111,821 | |||||
2,507,625 | Freddie Mac Multiclass Certificates Series 3207 Class QI, 6% due 2/15/2035 | 133,481 | |||||
Total U.S. Government Agency Mortgage-Backed Securities - Collateralized | |||||||
Mortgage Obligations (Cost - $5,198,380) - 12.1% | 4,807,894 | ||||||
Non-Government Agency Mortgage-Backed Securities** - | |||||||
Collateralized Mortgage Obligations | |||||||
127,387 | Citicorp Mortgage Securities, Inc. Series 1993-14 Class A-4, 13.58% due | ||||||
11/25/2023 (a) | 127,701 | ||||||
1,823,164 | JPMorgan Mortgage Trust Series 2006-A7 Class 2A2, 5.829% due 1/25/2037 (a) | 1,850,620 | |||||
100,511 | Nomura Asset Acceptance Corp. Series 2004-AR4 Class 2A3, 3.711% due | ||||||
12/25/2034 (a) | 100,052 |
1
BlackRock Broad Investment Grade 2009 Term Trust Inc. (BCT) |
Schedule of Investments as of January 31, 2008 (Unaudited) |
Face | Non-Government Agency Mortgage-Backed Securities** - | ||||||
Amount | Collateralized Mortgage Obligations | Value | |||||
$ 587,524 | Residential Accredit Loans, Inc. Series 2002-QS16 Class A3, 9.563% due | ||||||
10/25/2017 (a) | $ | 633,129 | |||||
12,443 | Salomon Brothers Mortgage Securities VI, Inc. Series 1987-3 Class A, | ||||||
12.50% due 10/23/2017 (i) | 11,903 | ||||||
491,764 | Structured Adjustable Rate Mortgage Loan Trust Series 2004-11 Class A, | ||||||
7.006% due 8/25/2034 (a) | 493,922 | ||||||
11,482,424 | Vendee Mortgage Trust Series 2002-1 Class 1IO, 0.043% due 10/15/2031 (a) | 25,308 | |||||
1,000,000 | WaMu Mortgage Pass-Through Certificates Series 2003-AR10 Class A6, | ||||||
4.056% due 10/25/2033 (a) | 1,002,144 | ||||||
1,000,000 | WaMu Mortgage Pass-Through Certificates Series 2005-AR4 Class A3, | ||||||
4.585% due 4/25/2035 (a) | 1,003,080 | ||||||
500,000 | Wells Fargo Mortgage Backed Securities Trust Series 2004-N Class A6, | ||||||
4% due 8/25/2034 (a) | 504,675 | ||||||
Total Non-Government Agency Mortgage-Backed Securities - | |||||||
Collateralized Mortgage Obligations (Cost - $5,519,020) - 14.5% | 5,752,534 | ||||||
Industry | Corporate Bonds | ||||||
Capital Markets - 2.6% | 1,000,000 | Morgan Stanley Group, Inc., 10% due 6/15/2008 | 1,019,740 | ||||
Total Corporate Bonds (Cost - $1,007,549) - 2.6% | 1,019,740 | ||||||
State | Municipal Bonds | ||||||
California - 4.0% | 500,000 | Fresno, California, Taxable Pension Obligation Revenue Bonds, 7.80% due | |||||
6/01/2014 (b)(g) | 566,785 | ||||||
500,000 | Kern County, California, Taxable Pension Obligation Revenue Bonds, 6.98% | ||||||
due 8/15/2009 (e) | 526,505 | ||||||
500,000 | Los Angeles County, California, Taxable Pension Obligation Revenue Bonds, | ||||||
Series D, 6.97% due 6/30/2008 (e) | 507,495 | ||||||
Louisiana - 1.3% | 500,000 | Orleans Parish, Louisiana, School Board, Taxable Pension Obligation, Revenue | |||||
Refunding Bonds, Series A, 6.60% due 2/01/2008 (c) | 500,000 | ||||||
Total Municipal Bonds (Cost - $2,000,000) - 5.3% | 2,100,785 | ||||||
Short-Term Securities | |||||||
25,600,000 | Federal Home Loan Bank, 1.35% due 2/01/2008 | 25,600,000 | |||||
Total Short-Term Securities (Cost - $25,600,000) - 64.7% | 25,600,000 | ||||||
Total Investments (Cost - $39,677,070*) - 100.1% | 39,603,413 | ||||||
Liabilities in Excess of Other Assets - (0.1%) | (29,824 | ) | |||||
Net Assets - 100.0% | $ | 39,573,589 |
* |
The cost and unrealized appreciation (depreciation) of investments as of January 31, 2008, as computed for federal income tax purposes, were as follows: |
Aggregate cost | $ | 39,677,070 | ||
Gross unrealized appreciation | $ | 497,325 | ||
Gross unrealized depreciation | (570,982 | ) | ||
Net unrealized depreciation | $ | (73,657 | ) |
** |
Asset-Backed and Mortgage-Backed Securities are subject to principal paydowns. As a result of prepayments or refinancings of the underlying instruments, the average life may be substantially less than the original maturity. |
(a) |
Floating rate security. |
(b) |
Escrowed to maturity. |
(c) |
FGIC Insured. |
(d) |
The security may be offered and sold to "qualified institutional buyers" under Rule 144A of the Securities Act of 1933. |
(e) |
MBIA Insured. |
(f) |
Non-income producing security; issuer filed for bankruptcy or is in default of interest payments. |
2
BlackRock Broad Investment Grade 2009 Term Trust Inc. (BCT) |
Schedule of Investments as of January 31, 2008 (Unaudited) |
(g) | Subject to principal paydowns. | |||||||
(h) | Restricted securities as to resale, representing approximately 0.0% of net assets, were as follows: | |||||||
Acquisition | ||||||||
Issue | Date | Cost | Value | |||||
Global Rated Eligible Asset Trust Series 1998-A | ||||||||
Class 1, 7.45% due 9/15/2007 | 3/15/2006 | $ | 77 | $ | 23 | |||
Structured Mortgage Asset Residential Trust | ||||||||
Series 2, 8.24% due 11/07/2007 | 3/15/2006 | 41,750 | 57 | |||||
Total | $ | 41,827 | $ | 80 |
(i) | Represents a zero coupon bond; the interest rate shown is the effective yield at the time of purchase. | |||||
(j) | All or a portion of security held as collateral in connection with open financial futures contracts. | |||||
| Financial futures contracts sold as of January 31, 2008 were as follows: | |||||
Number of | Expiration | Face | Unrealized | |||
Contracts | Issue | Date | Value | Appreciation | ||
100 | 2-Year U.S. Treasury Bond | March 2008 | $ 21,401,343 | $ 79,468 |
3
Item 2 Controls and Procedures
2(a) The registrants principal executive and principal financial officers or persons performing similar functions have concluded that the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the 1940 Act)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
2(b) There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants internal control over financial reporting.
Item 3 Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BlackRock Broad Investment Grade 2009 Term Trust, Inc.
By: | /s/
Donald C. Burke |
Donald C. Burke | |
Chief Executive Officer of | |
BlackRock Broad Investment Grade 2009 Term Trust, Inc. |
Date: March 24, 2008
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/
Donald C. Burke |
Donald C. Burke | |
Chief Executive Officer (principal executive officer) of | |
BlackRock Broad Investment Grade 2009 Term Trust, Inc. |
Date: March 24, 2008
By: | /s/
Neal J. Andrews |
Neal J. Andrews | |
Chief Financial Officer (principal financial officer) of | |
BlackRock Broad Investment Grade 2009 Term Trust, Inc. |
Date: March 24, 2008