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: | 811-05542 | |
| The BlackRock Income Trust Inc. | ||
| (Exact name of registrant as specified in charter) | ||
| 100 Bellevue Parkway, Wilmington, DE | 19809 | |
| (Address of principal executive offices) | (Zip code) | |
| Robert S. Kapito, President | ||
| The BlackRock Income Trust Inc. | ||
| 40 East 52nd Street, New York, NY 10022 | ||
| (Name and address of agent for service) | ||
| Registrant's telephone number, including area code: | 888-825-2257 | |
| Date of fiscal year end: | October 31, 2004 | |
| Date of reporting period: | July 31, 2004 | |
Item 1. Schedule of Investments
The Trust's schedule of investments pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:
PORTFOLIO OF INVESTMENTS (unaudited)
July 31, 2004
BlackRock Income Trust Inc. (BKT)
Principal |
|||||||||||
Amount |
|||||||||||
Rating1 |
(000) |
Description |
Value |
||||||||
| LONG-TERM INVESTMENTS—141.1% | |||||||||||
| Mortgage Pass-Throughs—34.6% | |||||||||||
| Federal Home Loan Mortgage Corp., | |||||||||||
| $16,790 | 5.50%, 10/01/16 - 5/01/17 | $ 17,271,158 | |||||||||
| 91 | 6.50%, 5/01/29 - 5/01/30 | 95,701 | |||||||||
| 24 | 7.50%, 2/01/23 | 25,765 | |||||||||
| 148 | 8.00%, 11/01/15 | 158,172 | |||||||||
| 103 | 8.50%, 10/01/06 - 3/01/08 | 107,211 | |||||||||
| 293 | 9.00%, 9/01/20 | 327,859 | |||||||||
| Federal National Mortgage Assoc., | |||||||||||
| 25,860 | 2 | 5.00%, 6/01/33 - 7/01/34 | 25,277,595 | ||||||||
| 69,880 | 2 | 5.50%, 12/01/13 - 8/01/34 | 71,196,131 | ||||||||
| 12,298 | 2 | 6.00%, 11/01/31 - 10/01/32 | 12,626,619 | ||||||||
| 6,823 | 2 | 6.50%, 2/01/26 - 5/01/31 | 7,129,156 | ||||||||
| 11,081 | 2 | 7.00%, 6/01/26 - 2/01/32 | 11,709,332 | ||||||||
| 5,228 | 7.50%, 11/01/14 - 9/01/23 | 5,667,764 | |||||||||
| 623 | 8.00%, 5/01/08 - 5/01/22 | 662,917 | |||||||||
| 12 | 9.50%, 1/01/19 - 9/01/19 | 14,123 | |||||||||
| Government National Mortgage Assoc., | |||||||||||
| 151 | 7.00%, 10/15/17 | 161,179 | |||||||||
| 899 | 7.50%, 8/15/21 - 12/15/23 | 971,582 | |||||||||
| 667 | 8.00%, 10/15/22 - 2/15/29 | 731,635 | |||||||||
| 58 | 9.00%, 6/15/18 - 9/15/21 | 65,578 | |||||||||
| Total Mortgage Pass-Throughs | 154,199,478 | ||||||||||
| Federal Housing Administration—2.7% | |||||||||||
| GMAC Projects, | |||||||||||
| 739 | Ser. 46, 7.43%, 1/01/22 | 771,322 | |||||||||
| 653 | Ser. 51, 7.43%, 2/01/23 | 680,808 | |||||||||
| 1,614 | Ser. 56, 7.43%, 11/01/22 | 1,683,328 | |||||||||
| 55 | Merrill Project, Ser. 54, 7.43%, 5/15/23 | 57,040 | |||||||||
| 880 | Reilly Project, Ser. 41, 8.28%, 3/01/20 | 898,837 | |||||||||
| USGI Projects, | |||||||||||
| 211 | Ser. 87, 7.43%, 12/01/22 | 220,142 | |||||||||
| 1,149 | Ser. 99, 7.43%, 10/01/23 | 1,198,546 | |||||||||
| 6,093 | Ser. 6094, 7.43%, 6/01/21 | 6,355,275 | |||||||||
| Total Federal Housing Administration | 11,865,299 | ||||||||||
| Agency Multiple Class Mortgage Pass-Throughs—13.8% | |||||||||||
| Federal Home Loan Mortgage Corp., | |||||||||||
| 7,275 | Ser. 11, Class A9, 1/25/28 | 6,463,448 | |||||||||
| 465 | Ser. 19, Class F, 3/15/20 | 464,915 | |||||||||
| 3,000 | Ser. 1598, Class J, 10/15/08 | 3,216,510 | |||||||||
| 12,850 | Ser. 2758, Class KV, 5/15/23 | 12,871,498 | |||||||||
| 2,366 | Ser. 2765, Class UA, 3/15/11 | 2,226,373 | |||||||||
| Federal National Mortgage Assoc., | |||||||||||
| 1,868 | Ser. 31, Class ZG, 5/25/34 | 2,112,345 | |||||||||
| 9,283 | Ser. 32, Class VT, 9/25/15 | 9,584,995 | |||||||||
| 482 | Ser. 43, Class E, 4/25/22 | 500,524 | |||||||||
| 5,000 | Ser. 81, Class BR, 4/25/25 | 5,087,050 | |||||||||
| 12,264 | Ser. 135, Class PB, 1/25/34 | 12,310,848 | |||||||||
| Government National Mortgage Assoc., | |||||||||||
| 2,419 | Ser. 5, Class Z, 5/16/26 | 2,577,729 | |||||||||
| 2,500 | Ser. 33, Class PB, 7/20/31 | 2,567,602 | |||||||||
| 7,228 | Ser. 39, Class ID, 5/20/33 | 831,388 | |||||||||
| 4,261 | Ser. 58, Class IT, 7/20/33 | 668,525 | |||||||||
| Total Agency Multiple Class Mortgage Pass-Throughs | 61,483,749 | ||||||||||
| Non-Agency Multiple Class Mortgage Pass-Throughs—0.0% | |||||||||||
| 151 | 3 | Summit Mortgage Trust, Ser. 1, Class B1, 6.079%, 12/28/12 | 150,752 | ||||||||
| Adjustable Rate Mortgage Securities—0.1% | |||||||||||
| Federal National Mortgage Assoc., | |||||||||||
| 219 | Ser. 38, Class F, 8.325%, 4/25/21 | 241,492 | |||||||||
| 64 | Ser. 256, Class F, 2.969%, 11/25/23 | 56,152 | |||||||||
| Total Adjustable Rate Mortgage Securities | 297,644 | ||||||||||
1
BlackRock Income Trust Inc. (BKT) (continued)
Principal |
|||||||||||
Amount |
|||||||||||
Rating1 |
(000) |
Description |
Value |
||||||||
| Inverse Floating Rate Mortgages—3.0% | |||||||||||
| Federal Home Loan Mortgage Corp., | |||||||||||
| $ 77 | Ser. 1160, Class F, 34.053%, 10/15/21 | $ 89,342 | |||||||||
| 849 | 2 | Ser. 1616, Class SB, 8.50%, 11/15/08 | 874,160 | ||||||||
| 2,822 | Ser. 1688, Class S, 9.257%, 12/15/13 | 2,972,496 | |||||||||
| Federal National Mortgage Assoc., | |||||||||||
| 222 | Ser. 38, Class SA, 10.186%, 4/25/21 | 235,252 | |||||||||
| 42 | Ser. 46, Class S, 21.827%, 5/25/21 | 12,041 | |||||||||
| 49 | Ser. 49, Class S, 8.821%, 12/25/21 | 5,184 | |||||||||
| 1,402 | Ser. 72, Class S, 8.75%, 5/25/08 | 1,453,167 | |||||||||
| 255 | Ser. 87, Class S, 22.79%, 8/25/21 | 307,740 | |||||||||
| 618 | Ser. 93, Class S, 8.50%, 5/25/08 | 638,474 | |||||||||
| 60 | Ser. 145, Class S, 30.909%, 10/25/06 | 69,711 | |||||||||
| 354 | Ser. 170, Class SC, 9.00%, 9/25/08 | 377,982 | |||||||||
| 2,447 | Ser. 196, Class SC, 7.951%, 10/25/08 | 2,546,115 | |||||||||
| 852 | Ser. 214, Class SH, 14.556%, 12/25/08 | 924,811 | |||||||||
| 2,116 | Ser. 247, Class SN, 10.00%, 12/25/23 | 2,157,480 | |||||||||
| 470 | Kidder Peabody Acceptance Corp., Ser. 1, Class A6, 13.928%, 8/25/23 | 472,480 | |||||||||
| Total Inverse Floating Rate Mortgages | 13,136,434 | ||||||||||
| Interest Only Asset-Backed Securities—1.1% | |||||||||||
| 55,574 | Sterling Coofs Trust, 4/15/29 | 4,949,600 | |||||||||
| Interest Only Mortgage-Backed Securities—15.3% | |||||||||||
| 13,124 | ABN Amro Mortgage Corp., Ser. IV, Class A2, 3/25/33 | 611,847 | |||||||||
| American Housing Trust, | |||||||||||
| 342 | Ser. III, Class 4, 3/25/19 | 4,999 | |||||||||
| 81 | Ser. VII, Class 2, 11/25/20 | 180,000 | |||||||||
| 100,645 | Commercial Mortgage Acceptance Corp., Ser. ML1, 12/15/30 | 2,140,979 | |||||||||
| 31,736 | 3 | CS First Boston Mortgage Securities Corp., Ser. C1, Class AX, 6/20/29 | 1,412,499 | ||||||||
| Federal Home Loan Mortgage Corp., | |||||||||||
| 44 | Ser. 19, Class R, 3/15/20 | 5,456 | |||||||||
| 19,259 | Ser. 60, Class HS, 4/25/24 | 792,855 | |||||||||
| 0 | Ser. 75, Class R, 1/15/21 | 12 | |||||||||
| 0 | Ser. 75, Class RS, 1/15/21 | 12 | |||||||||
| 0 | Ser. 173, Class R, 11/15/21 | 109 | |||||||||
| 13 | Ser. 176, Class M, 7/15/21 | 163 | |||||||||
| 1 | Ser. 192, Class U, 2/15/22 | 166 | |||||||||
| 68 | Ser. 200, Class R, 12/15/22 | 1,256 | |||||||||
| 4,197 | Ser. 204, 5/1/29 | 945,580 | |||||||||
| 36 | Ser. 1043, Class H, 2/15/21 | 51,875 | |||||||||
| 5 | Ser. 1054, Class I, 3/15/21 | 977 | |||||||||
| 37 | Ser. 1056, Class KD, 3/15/21 | 4,811 | |||||||||
| 47 | Ser. 1057, Class J, 3/15/21 | 10,043 | |||||||||
| 125 | Ser. 1148, Class E, 10/15/21 | 2,628 | |||||||||
| 36 | Ser. 1179, Class O, 11/15/21 | 621 | |||||||||
| 34 | Ser. 1221 Class H, 3/15/07 | 588 | |||||||||
| 1,045 | Ser. 1706, Class IA, 10/15/23 | 93,731 | |||||||||
| 343 | Ser. 1720, Class PK, 1/15/24 | 35,549 | |||||||||
| 3,324 | Ser. 1809, Class SC, 12/15/23 | 185,932 | |||||||||
| 9,381 | Ser. 1914, Class PC, 12/15/11 | 113,415 | |||||||||
| 1,314 | Ser. 1961 Class H, 5/15/12 | 1,373,687 | |||||||||
| 12,637 | Ser. 2002, Class HJ, 10/15/08 | 335,769 | |||||||||
| 382 | Ser. 2099, Class JB, 9/15/22 | 21,398 | |||||||||
| 7,217 | Ser. 2218 Class Z, 3/15/30 | 8,321,768 | |||||||||
| 2,094 | Ser. 2296, Class SA, 3/15/16 | 172,768 | |||||||||
| 1,639 | Ser. 2444, Class ST, 9/15/29 | 151,410 | |||||||||
| 1,519 | Ser. 2513, Class BI, 12/15/15 | 86,653 | |||||||||
| 2,757 | Ser. 2542, Class MX, 5/15/22 | 307,043 | |||||||||
| 2,784 | Ser. 2543, Class IM, 9/15/12 | 139,773 | |||||||||
| 6,018 | Ser. 2545, Class NI, 3/15/22 | 686,240 | |||||||||
| 53,761 | Ser. 2559, Class IO, 8/15/30 | 218,403 | |||||||||
| 9,610 | Ser. 2561, Class EW, 9/15/16 | 1,064,615 | |||||||||
| 16,998 | Ser. 2611, Class QI, 9/15/32 | 3,448,064 | |||||||||
2
BlackRock Income Trust Inc. (BKT) (continued)
Principal
|
|||||||||||
Amount
|
Value |
||||||||||
Rating1 |
(000)
|
Description |
(Note 1) |
||||||||
| Interest Only Mortgage-Backed Securities (continued) | |||||||||||
| Federal Home Loan Mortgage Corp., (continued) | |||||||||||
| $ 28,293 | Ser. 2633, Class PI, 3/15/12 | $ 1,626,253 | |||||||||
| 6,372 | Ser. 2653, Class MI, 4/15/26 | 991,113 | |||||||||
| 11,963 | Ser. 2658, Class PI, 6/15/13 | 1,108,488 | |||||||||
| 5,662 | Ser. 2672, Class TQ, 3/15/23 | 740,917 | |||||||||
| 12,324 | Ser. 2676, Class JI, 8/15/13 | 1,015,158 | |||||||||
| 3,633 | Ser. 2687, Class IL, 9/15/18 | 673,004 | |||||||||
| 26,076 | Ser. 2687, Class IQ, 9/15/22 | 2,552,882 | |||||||||
| 6,533 | Ser. 2693, Class IB, 6/15/13 | 806,148 | |||||||||
| 5,026 | Ser. 2694, Class LI, 7/15/19 | 592,346 | |||||||||
| 28,937 | Ser. 2780, Class SM, 4/15/34 | 1,654,820 | |||||||||
| 22,898 | Ser. 2786, Class PI, 10/15/10 | 1,475,075 | |||||||||
| Federal National Mortgage Assoc., | |||||||||||
| 472 | Ser. 5, Class H, 1/25/22 | 68,474 | |||||||||
| 29 | Ser. 7, Class 2, 4/1/17 | 6,288 | |||||||||
| 87 | Ser. 7, Class S, 3/25/21 | 12,504 | |||||||||
| 246 | Ser. 10, Class S, 5/25/21 | 30,566 | |||||||||
| 10,531 | Ser. 11, Class PI, 1/25/19 | 479,282 | |||||||||
| 122 | Ser. 12, Class C, 2/25/22 | 21,674 | |||||||||
| 194 | Ser. 12, Class S, 5/25/21 | 40,138 | |||||||||
| 12,037 | Ser. 13, Class IG, 10/25/22 | 1,262,788 | |||||||||
| 24,840 | Ser. 16, Class PI, 11/25/12 | 1,556,704 | |||||||||
| 124 | Ser. 17, Class S, 6/25/21 | 17,907 | |||||||||
| 2 | Ser. 20, Class H, 3/25/06 | 80 | |||||||||
| 173 | Ser. 33, Class PV, 10/25/21 | 39,877 | |||||||||
| 5,525 | Ser. 33, Class SG, 3/25/09 | 361,178 | |||||||||
| 3,377 | Ser. 37, Class SE, 10/25/22 | 18,515 | |||||||||
| 17 | Ser. 38, Class N, 4/25/21 | 1,927 | |||||||||
| 139 | Ser. 50, Class G, 12/25/21 | 19,669 | |||||||||
| 1,635 | Ser. 50, Class SI, 4/25/23 | 40,369 | |||||||||
| 7,372 | Ser. 51, Class IE, 4/25/26 | 1,331,485 | |||||||||
| 5 | Ser. 54, Class H, 5/25/05 | 209 | |||||||||
| 6,044 | Ser. 55, Class GI, 7/25/19 | 1,181,235 | |||||||||
| 1,386 | Ser. 60, Class SB, 10/25/22 | 32,106 | |||||||||
| 2,017 | Ser. 62, Class IC, 7/25/15 | 129,241 | |||||||||
| 2,315 | Ser. 62, Class IL, 3/25/24 | 106,609 | |||||||||
| 24,091 | Ser. 64, Class QI, 1/25/33 | 4,987,957 | |||||||||
| 8,703 | Ser. 66, Class CI, 7/25/33 | 1,921,337 | |||||||||
| 6,494 | Ser. 68, Class SC, 1/25/24 | 603,000 | |||||||||
| 7,041 | Ser. 71, Class EI, 8/25/33 | 1,534,442 | |||||||||
| 7,989 | Ser. 82, Class IR, 9/25/12 | 446,881 | |||||||||
| 17 | Ser. 84, Class H, 8/25/06 | 1,158 | |||||||||
| 31,703 | Ser. 88, Class TI, 11/25/13 | 2,029,598 | |||||||||
| 51 | Ser. 89, Class 2, 6/01/18 | 10,102 | |||||||||
| 25,416 | Ser. 90, Class M, 1/25/28 | 5,398,274 | |||||||||
| 14 | Ser. 94, Class 2, 8/01/21 | 3,030 | |||||||||
| 64 | Ser. 99, Class L, 8/25/21 | 8,869 | |||||||||
| 6,639 | Ser. 122, Class IA, 9/25/09 | 297,347 | |||||||||
| 3,741 | Ser. 122, Class IC, 9/25/18 | 782,427 | |||||||||
| 11 | Ser. 123, Class M, 10/25/20 | 1,693 | |||||||||
| 86 | Ser. 136, Class S, 11/25/20 | 92,807 | |||||||||
| 101 | Ser. 139, Class PT, 10/25/21 | 10,527 | |||||||||
| 54 | Ser. 141, Class SA, 8/25/07 | 11,986 | |||||||||
| 5,002 | Ser. 199, Class SB, 10/25/23 | 474,362 | |||||||||
| 4,369 | Ser. 302, Class 2, 6/01/29 | 996,708 | |||||||||
| 8,423 | Ser. 602, Class BI, 10/25/22 | 1,479,171 | |||||||||
| 1,447 | Ser. W4, 12/25/28 | 279,167 | |||||||||
| 183 | First Boston Mortgage Securities Corp., Ser. C, Class I, 4/25/17 | 32,857 | |||||||||
| 31,075 | GMAC Commercial Mortgage Securities, Inc., Ser. C1, Class X, 7/15/27 | 1,521,942 | |||||||||
| 20,254 | 3 | Goldman Sachs Mortgage Securities Corp., Ser. 5, 2/19/25 | 408,253 | ||||||||
| 10,096 | 3 | Hanover Grantor Trust, Ser. A, Class 1, 8/01/27 | 9,465 | ||||||||
| 148 | Kidder Peabody Acceptance Corp., Ser. B, Class A2, 4/22/18 | 33,383 | |||||||||
| 4,705 | Merrill Lynch Mortgage Investors, Inc., Ser. C2, 6/15/21 | 88,539 | |||||||||
3
BlackRock Income Trust Inc. (BKT) (continued)
Principal
|
|||||||||||
Amount
|
|||||||||||
Rating1 |
(000)
|
Description |
Value |
||||||||
| Interest Only Mortgage-Backed Securities (continued) | |||||||||||
| Morgan Stanley Capital 1, Inc., | |||||||||||
| $ 3,248 | Ser. 3, Class 1AX, 5/25/19 | $ 462,780 | |||||||||
| 8,997 | 3 | Ser. HF1, Class X, 6/15/17 | 261,807 | ||||||||
| 3,068 | Residential Accredit Loans, Inc., Ser. QS7, Class A1, 4/25/33 | 611,693 | |||||||||
| 21,639 | Small Business Administration, Ser. 1, 4/01/15 | 162,294 | |||||||||
| 179,676 | Vendee Mortgage Trust, Ser. 2, Class 1, 5/15/29 | 264,123 | |||||||||
| Total Interest Only Mortgage-Backed Securities | 68,146,704 | ||||||||||
| Principal Only Mortgage-Backed Securities—8.7% | |||||||||||
| AAA | 148 | Collateralized Mortgage Obligation Trust, Ser. 29, Class A, 5/23/17 | 132,660 | ||||||||
| Countrywide Home Loans Inc., | |||||||||||
| AAA | 8,523 | Ser. 26, 8/25/33 | 5,113,687 | ||||||||
| AAA | 1,578 | Ser. J4, 6/25/33 | 1,171,382 | ||||||||
| AAA | 2,184 | Ser. J5, 7/25/33 | 1,310,267 | ||||||||
| AAA | 1,563 | Ser. J8, 9/25/23 | 991,594 | ||||||||
| Drexel Burnham Lambert, Inc., | |||||||||||
| AAA | 63 | Ser. K, Class 1, 9/23/17 | 55,379 | ||||||||
| AAA | 649 | Ser. V, Class 1, 9/01/18 | 594,161 | ||||||||
| Federal Home Loan Mortgage Corp., | |||||||||||
| 516 | Ser. 8, Class A10, 11/15/28 | 423,118 | |||||||||
| 361 | Ser. 1418, Class M, 11/15/22 | 309,355 | |||||||||
| 928 | Ser. 1571, Class G, 8/15/23 | 640,608 | |||||||||
| 4,803 | Ser. 1691, Class B, 3/15/24 | 4,121,640 | |||||||||
| 561 | Ser. 1739, Class B, 2/15/24 | 486,686 | |||||||||
| Federal National Mortgage Assoc., | |||||||||||
| 712 | Ser. 2, Class KB, 1/25/23 | 586,670 | |||||||||
| 91 | Ser. 7, Class J, 2/25/21 | 76,723 | |||||||||
| 2,194 | Ser. 13, Class PR, 3/25/32 | 1,764,152 | |||||||||
| 154 | Ser. 51, Class E, 2/25/23 | 112,505 | |||||||||
| 60 | Ser. 70, Class A, 5/25/23 | 50,777 | |||||||||
| 71 | Ser. 167, Class D, 10/25/17 | 67,671 | |||||||||
| 107 | Ser. 203, Class 1, 2/01/23 | 92,775 | |||||||||
| 77 | Ser. 228, Class 1, 5/01/23 | 65,578 | |||||||||
| 3,582 | Ser. 249, Class B, 11/25/23 | 2,908,940 | |||||||||
| 583 | Ser. 273, Class 1, 7/01/26 | 496,888 | |||||||||
| 10,299 | Ser. 328, Class 1, 11/01/32 | 8,107,403 | |||||||||
| 6,560 | Ser. 338, Class 1, 6/01/33 | 4,885,031 | |||||||||
| 699 | Ser. W4, 2/25/29 | 494,883 | |||||||||
| AAA | 95 | First Union Residential Securitization Trust, Ser. A, Class 1APO, 3/25/15 | 91,736 | ||||||||
| AAA | 700 | MASTR Asset Securitization Trust, Ser. 3, Class 4A15, 3/25/34 | 339,500 | ||||||||
| AAA | 53 | Structured Mortgage Asset Residential Trust, Ser. 3C, Class CX, 4/25/24 | 48,173 | ||||||||
| NR | 13,000 | Resolution Funding Corp., Ser. B, 4/15/30 | 2,991,690 | ||||||||
| Total Principal Only Mortgage-Backed Securities | 38,531,633 | ||||||||||
| Commercial Mortgage-Backed Securities—2.7% | |||||||||||
| AAA | 10,250 | 3 | New York City Mortgage Loan Trust, Ser. 1996, Class A2, 6.75%, 6/25/11 | 10,901,883 | |||||||
| Aaa | 1,319 | Banc of America Alternative Loan Trust, Ser. 11, Class 5A1, 5.50%, 1/25/19 | 1,319,820 | ||||||||
| Total Commercial Mortgage-Backed Securities | 12,221,703 | ||||||||||
| Collateralized Mortgage Obligation Residuals—10.4% | |||||||||||
| Collateralized Mortgage Obligation Trust, | |||||||||||
| 7 | Ser. 40, Class R, 4/01/18 | 741 | |||||||||
| 130 | Ser. 42, Class R, 10/01/14 | 1,325 | |||||||||
| 1 | FBC Mortgage Securities Trust 16, Ser. A, Class 1, 7/01/17 | 283,265 | |||||||||
| GSR Mortgage Loan Trust, | |||||||||||
| 6,510 | Ser. 10, Class 2A1, 10/25/33 | 6,364,150 | |||||||||
| 6,253 | Ser. 13, Class 1A1, 10/25/33 | 6,173,802 | |||||||||
| 3,043 | MASTR Alternative Loan Trust, Ser. 7, Class 4A3, 11/25/18 | 3,339,916 | |||||||||
| 10,155 | MASTR Asset Securitization Trust, Ser 12, Class 3A5, 10/25/14 | 10,180,782 | |||||||||
| 143,539 | MLCC Mortgage Investors Inc., Ser. A, Class XA, 3/25/28 | 4,575,315 | |||||||||
| Morgan Stanley Mortgage Trust, | |||||||||||
| 128 | Ser. 38, Class 2, 11/20/21 | 22,591 | |||||||||
| 139 | Ser. 39, Class 2, 12/20/21 | 24,548 | |||||||||
| 14,053 | Residential Funding Securities Corp., Ser. RM2, Class AI5, 5/25/33 | 15,528,881 | |||||||||
| Total Collateralized Mortgage Obligation Residuals | 46,495,315 | ||||||||||
4
BlackRock Income Trust Inc. (BKT) (continued)
Principal
|
|||||||||||
Amount
|
|||||||||||
Rating1 |
(000)
|
Description |
Value |
||||||||
| U.S. Government and Agency Securities—47.7% | |||||||||||
| $ 16,627 | Overseas Private Investment Corp., zero coupon—7.35%, 5/29/12 | $ 17,049,185 | |||||||||
| Small Business Administration, | |||||||||||
| 1,380 | Ser. 20C-1, 7.15%, 3/01/17 | 1,484,004 | |||||||||
| 1,681 | Ser. 20E-1, 7.60%, 5/01/16 | 1,814,755 | |||||||||
| 2,316 | Ser. 20F-1, 7.55%, 6/01/16 | 2,500,447 | |||||||||
| 1,419 | Ser. 20G-1, 7.70%, 7/01/16 | 1,537,366 | |||||||||
| 2,236 | Ser. 20H-1, 7.25%, 8/01/16 | 2,400,816 | |||||||||
| 3,321 | Ser. 20K-1, 6.95%, 11/01/16 | 3,550,392 | |||||||||
| 1,864 | Small Business Investment Companies, Ser. P10A, Class 1, 6.12%, 2/01/08 | 1,967,890 | |||||||||
| 129,000 | 2 | U.S. Treasury Bonds, zero coupon, 11/15/24 | 42,072,834 | ||||||||
| U.S. Treasury Notes, | |||||||||||
| 64,500 | 2 | 1.50%, 3/31/06 | 63,471,870 | ||||||||
| 50,100 | 2 | 2.50%, 5/31/06 | 50,005,812 | ||||||||
| 3,000 | 2 | 3.875%, 2/15/13 | 2,899,101 | ||||||||
| 745 | 4.00%, 2/15/14 | 717,875 | |||||||||
| 17,950 | 2 | 4.25%, 11/15/13 | 17,672,314 | ||||||||
| 3,250 | 2 | 4.375%, 8/15/12 | 3,268,298 | ||||||||
| Total U.S. Government and Agency Securities | 212,412,959 | ||||||||||
| Corporate Bonds—0.9% | |||||||||||
| AAA | 4,383 | Structured Asset Receivable Trust, 2.13%, 1/21/10 | 4,367,914 | ||||||||
| Total Long-Term Investments (cost $644,298,621) | 628,259,184 | ||||||||||
| SHORT-TERM INVESTMENTS—8.2% | |||||||||||
| U.S. Government and Agency Securities—8.2% | |||||||||||
| 11,230 | U.S. Treasury Bonds, 1.10%, 8/06/04 | 11,229,750 | |||||||||
| 25,642 | U.S. Treasury Inflation-Indexed Bonds, 1.17%, 8/06/04 | 25,642,463 | |||||||||
| Total Short-Term Investments (cost $36,872,213) | 36,872,213 | ||||||||||
| Total investments before investments sold short and outstanding options (cost $681,170,834) | |||||||||||
| INVESTMENTS SOLD SHORT—(5.2%) | |||||||||||
| (10,850) | U.S. Treasury Bonds | (11,114,469) | |||||||||
| (9,573) | U.S. Treasury Inflation-Indexed Bonds | (12,109,319) | |||||||||
| Total Investments Sold Short (proceeds $23,335,841) | (23,223,788) | ||||||||||
| Notional | |||||||||||
| Amount | |||||||||||
| (000) | |||||||||||
| OUTSTANDING OPTIONS PURCHASED—0.0% | |||||||||||
| Interest Rate Swap, | |||||||||||
| 13,500 | 3-month LIBOR over 4.90%, expires 11/19/04 | 39,845 | |||||||||
| 13,500 | 6.25% over 3-month LIBOR, expires 11/19/04 | 40,824 | |||||||||
| Total Outstanding Options Purchased (cost $85,050) | 80,669 | ||||||||||
| OUTSTANDING OPTIONS WRITTEN—(0.2%) | |||||||||||
| Interest Rate Swap, | |||||||||||
| (77,000) | 3 month LIBOR over 5.75%, expires 9/23/05 | (711,480) | |||||||||
| (13,500) | 3-month LIBOR over 6.05%, expires 2/23/05 | (184,432) | |||||||||
| (29,200) | 3.00% over 3-month LIBOR, expires 1/19/05 | (47,338) | |||||||||
| (13,500) | 5.05% over 3 month LIBOR, expires 2/23/05 | (114,047) | |||||||||
| Total Outstanding Options Written (premium received $2,019,886) | (1,057,297) | ||||||||||
| Total investments, net of investments sold short and outstanding options—143.9% | 640,930,981 | ||||||||||
| Liabilities in excess of other assets—(43.9)% | (195,616,607) | ||||||||||
| Net Assets—100% | $ 445,314,374 | ||||||||||
| 1 | Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch Ratings ratings. | ||
| 2 | Entire or partial principal amount pledged as collateral for reverse repurchase agreements or financial futures contracts. | ||
| 3 | Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of July 31, 2004, the Trust held 3.0% of its net assets, with a current market value of $13,144,659, in securities restricted as to resale. | ||
5
Item 2. 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 that the registrant’s disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.
(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 3. Exhibits.
(a) Separate certifications of Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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) | The BlackRock Income Trust Inc. | |
| By: | /s/ Henry Gabbay | |
| Name: | Henry Gabbay | |
| Title: | Treasurer | |
| Date: | September 28, 2004 |
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/ Robert S. Kapito | |
| Name: | Robert S. Kapito | |
| Title: | Principal Executive Officer | |
| Date: | September 28, 2004 |
| By: | /s/ Henry Gabbay | |
| Name: | Henry Gabbay | |
| Title: | Principal Financial Officer | |
| Date: | September 28, 2004 |