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 811-21349

Name of Fund: BlackRock Limited Duration Income Trust (BLW)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

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

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

Date of fiscal year end: 10/31/2008

Date of reporting period: 05/01/2008 – 07/31/2008

Item 1 – Schedule of Investments

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
       Par      
Industry   Asset-Backed Securities (000)     Value
    Sterling Bank Trust Series 2004-2 Class Note,          
    2.081%, 3/30/30 (a) $ 21,867   $ 1,120,701
    Sterling Coofs Trust Series 1, 2.362%, 4/15/29 (a)   17,311     1,292,887
    Total Asset-Backed Securities - 0.4%         2,413,588
    Corporate Bonds          
Aerospace & Defense - 0.6%   CHC Helicopter Corp., 7.375%, 5/01/14   1,715     1,781,456
    DRS Technologies, Inc., 6.875%, 11/01/13   330     331,650
    DRS Technologies, Inc., 7.625%, 2/01/18   310     322,400
    Hexcel Corp., 6.75%, 2/01/15   650     628,875
    TransDigm, Inc., 7.75%, 7/15/14   570     555,750
              3,620,131
Air Freight & Logistics - 0.1%   Park-Ohio Industries, Inc., 8.375%, 11/15/14   905     746,625
Airlines - 0.1%   American Airlines, Inc. Series 99-1, 7.324%, 4/15/11   520     479,700
Auto Components - 0.4%   Allison Transmission, Inc., 11%, 11/01/15 (b)   70     63,350
    Allison Transmission, Inc., 11.25%, 11/01/15 (b)(c)   670     582,900
    Lear Corp., 8.75%, 12/01/16   1,575     1,244,250
    Metaldyne Corp., 10%, 11/01/13   1,000     410,000
              2,300,500
Automobiles - 0.1%   Ford Capital BV, 9.50%, 6/01/10   500     420,000
Building Products - 0.4%   CPG International I, Inc., 10.50%, 7/01/13   750     592,500
    Momentive Performance Materials, Inc.,          
    11.50%, 12/01/16   2,590     1,994,300
              2,586,800
Capital Markets - 1.0%   E*Trade Financial Corp., 12.50%, 11/30/17 (b)   2,500     2,637,500
    Marsico Parent Co., LLC, 10.625%, 1/15/16 (b)   2,651     2,283,174
    Marsico Parent Holdco, LLC, 12.50%, 7/15/16 (b)(c)   977     831,492
    Marsico Parent Superholdco, LLC,          
    14.50%, 1/15/18 (b)(c)   659     554,025
              6,306,191
Chemicals - 1.2%   American Pacific Corp., 9%, 2/01/15   1,100     1,064,250
    Ames True Temper, Inc., 6.791%, 1/15/12 (e)   2,085     1,657,575
    Huntsman LLC, 11.50%, 7/15/12   310     323,175
    Ineos Group Holdings Plc, 7.875%, 2/15/16 (b) EUR 1,490     1,481,656
    Innophos, Inc., 8.875%, 8/15/14 $ 2,225     2,225,000
    Key Plastics LLC, 11.75%, 3/15/13 (b)   980     343,000
    Terra Capital, Inc. Series B, 7%, 2/01/17   115     113,562
              7,208,218
Commercial Services &   Casella Waste Systems, Inc., 9.75%, 2/01/13   2,000     1,980,000
Supplies - 1.7%   DI Finance Series B, 9.50%, 2/15/13   2,538     2,515,793
    FTI Consulting, Inc., 7.75%, 10/01/16   350     357,875
    Sally Holdings LLC, 10.50%, 11/15/16 (b)(f)   990     952,875
    Waste Services, Inc., 9.50%, 4/15/14   2,065     2,075,325
    West Corp., 11%, 10/15/16 (f)   3,595     2,858,025
              10,739,893

1

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
Industry   Corporate Bonds (000)     Value
Communications   Nortel Networks Ltd., 7.041%, 7/15/11 (e) $ 1,970   $ 1,856,725
Equipment - 0.3%              
Containers & Packaging - 0.8%   Berry Plastics Holding Corp., 6.651%, 9/15/14 (e)   510     374,850
    Berry Plastics Holding Corp., 8.875%, 9/15/14   910     728,000
    Crown Americas LLC, 7.75%, 11/15/15   885     913,762
    Impress Holdings BV, 5.916%, 9/15/13 (b)(e)   1,370     1,212,450
    Pregis Corp., 12.375%, 10/15/13   2,020     1,939,200
              5,168,262
Diversified Financial Services -   Ford Motor Credit Co., 7.375%, 2/01/11   2,800     2,256,979
1.4%   Ford Motor Credit Co. LLC, 5.538%, 1/13/12 (e)   565     409,632
    Ford Motor Credit Co. LLC, 7.241%, 4/15/12 (e)   60     56,971
    Ford Motor Credit Co. LLC, 7.80%, 6/01/12   1,665     1,250,487
    GMAC LLC, 6.875%, 8/28/12   2,735     1,716,483
    Structured Asset Repackaged Trust, 3.761%, 1/21/10   3,068     3,022,099
              8,712,651
Diversified Telecommunication   Cincinnati Bell, Inc., 7.25%, 7/15/13   1,420     1,370,300
Services - 3.1%   Deutsche Telekom International Finance BV,          
    8%, 6/15/10 (f)   5,000     5,279,240
    Qwest Communications International, Inc.,          
    6.176%, 2/15/09 (e)   1,364     1,350,360
    Qwest Communications International, Inc.,          
    7.50%, 2/15/14   3,595     3,316,387
    Qwest Corp., 6.026%, 6/15/13 (e)(f)   3,000     2,782,500
    Wind Acquisition Finance SA, 10.75%, 12/01/15 (b)   1,500     1,552,500
    Windstream Corp., 8.125%, 8/01/13 (f)   2,340     2,363,400
    Windstream Corp., 8.625%, 8/01/16   1,060     1,073,250
              19,087,937
Electric Utilities - 0.6%   Edison Mission Energy, 7.50%, 6/15/13   590     592,950
    Elwood Energy LLC, 8.159%, 7/05/26   149     143,601
    Midwest Generation LLC Series B, 8.56%, 1/02/16   2,676     2,762,490
              3,499,041
Electrical Equipment - 0.6%   Superior Essex Communications LLC, 9%, 4/15/12   3,765     3,840,300
Electronic Equipment &   Sanmina-SCI Corp., 6.75%, 3/01/13   315     280,350
Instruments - 0.4%   Sanmina-SCI Corp., 8.125%, 3/01/16 (f)   2,560     2,278,400
              2,558,750
Energy Equipment & Services -   Compagnie Generale de Geophysique-Veritas,          
0.2%   7.50%, 5/15/15   255     252,450
    Compagnie Generale de Geophysique-Veritas,          
    7.75%, 5/15/17   420     416,850
    Grant Prideco, Inc. Series B, 6.125%, 8/15/15 (f)   380     377,050
    North American Energy Partners, Inc., 8.75%, 12/01/11   270     271,350
    SemGroup LP, 8.75%, 11/15/15 (b)(g)(h)   1,240     167,400
              1,485,100
Food & Staples Retailing - 0.5%   Rite Aid Corp., 7.50%, 3/01/17 (f)   3,440     2,786,400
Gas Utilities - 0.2%   El Paso Natural Gas Co., 8.375%, 6/15/32   400     438,266
    Targa Resources, Inc., 8.50%, 11/01/13   725     688,750
              1,127,016

2

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
Industry   Corporate Bonds (000)     Value
Health Care Equipment &   Biomet, Inc., 10%, 10/15/17 $ 500   $ 537,500
Supplies - 1.3%   Biomet, Inc., 10.375%, 10/15/17 (c)   500     527,500
    Biomet, Inc., 11.625%, 10/15/17   670     707,688
    ReAble Therapeutics Finance LLC,          
    10.875%, 11/15/14 (b)(f)   6,420     6,420,000
              8,192,688
Health Care Providers &   Tenet Healthcare Corp., 6.50%, 6/01/12   1,985     1,927,931
Services - 0.7%   Viant Holdings, Inc., 10.125%, 7/15/17 (b)   2,948     2,491,060
              4,418,991
Hotels, Restaurants & Leisure -   American Real Estate Partners LP,          
2.2%   8.125%, 6/01/12 (f)   5,860     5,596,300
    American Real Estate Partners LP, 7.125%, 2/15/13   1,480     1,324,600
    Greektown Holdings, LLC, 10.75%, 12/01/13 (b)(g)(h)   1,344     967,680
    Harrah's Operating Co., Inc., 10.75%, 2/01/16 (b)   5,695     4,299,725
    Harrah's Operating Co., Inc., 10.75%, 2/01/18 (b)(c)   1,790     1,120,988
    Tropicana Entertainment LLC Series WI,          
    9.625%, 12/15/14 (g)(h)   775     209,250
    Wynn Las Vegas LLC, 6.625%, 12/01/14   100     90,500
              13,609,043
Household Durables - 0.0%   Berkline/BenchCraft, LLC, 4.50%, 11/03/12 (c)(g)(h)(i)   200     0
IT Services - 1.0%   First Data Corp., 9.875%, 9/24/15 (b)   270     238,950
    iPayment, Inc., 9.75%, 5/15/14   950     795,625
    iPayment Investors LP, 12.75%, 7/15/14 (b)(c)   4,205     4,180,686
    SunGard Data Systems, Inc., 9.125%, 8/15/13   790     807,775
              6,023,036
Independent Power Producers &   The AES Corp., 8.75%, 5/15/13 (b)   2,803     2,908,113
Energy Traders - 0.7%   NRG Energy, Inc., 7.25%, 2/01/14   210     204,750
    NRG Energy, Inc., 7.375%, 2/01/16   1,185     1,149,450
              4,262,313
Industrial Conglomerates - 1.2%   Sequa Corp., 11.75%, 12/01/15 (b)   3,210     2,792,700
    Sequa Corp., 13.50%, 12/01/15 (b)(c)   4,810     4,365,481
              7,158,181
Leisure Equipment &   Quiksilver, Inc., 6.875%, 4/15/15   575     451,375
Products - 0.1%              
Machinery - 1.0%   AGY Holding Corp., 11%, 11/15/14   1,700     1,521,500
    Accuride Corp., 8.50%, 2/01/15   850     578,000
    Sunstate Equipment Co. LLC, 10.50%, 4/01/13 (b)   3,125     2,453,125
    Synventive Molding Solutions Sub-Series A, 14%, 1/14/11   600     270,000
    Terex Corp., 8%, 11/15/17   1,085     1,060,587
              5,883,212
Marine - 0.1%   Navios Maritime Holdings, Inc., 9.50%, 12/15/14   676     660,790
Media - 6.9%   Affinion Group, Inc., 10.125%, 10/15/13   1,975     1,984,875
    Affinion Group, Inc., 11.50%, 10/15/15   850     845,750
    CMP Susquehanna Corp., 9.875%, 5/15/14   2,425     1,527,750
    Cablevision Systems Corp. Series B, 7.133%, 4/01/09 (e)   800     805,000
    Charter Communications Holdings I, LLC, 11%, 10/01/15   865     655,238
    Charter Communications Holdings II, LLC, 10.25%, 9/15/10   3,420     3,255,388

3

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
       Par      
Industry   Corporate Bonds (000)     Value
    Comcast Cable Communications LLC,          
    6.875%, 6/15/09 (f) $ 6,685   $ 6,851,376
    Dex Media West LLC, 9.875%, 8/15/13   1,650     1,295,250
    DirecTV Holdings LLC, 5.25%, 3/15/13   500     516,250
    EchoStar DBS Corp., 5.75%, 10/01/08   2,800     2,803,500
    EchoStar DBS Corp., 7%, 10/01/13   200     190,000
    EchoStar DBS Corp., 7.125%, 2/01/16   200     184,500
    Network Communications, Inc., 10.75%, 12/01/13   1,520     1,147,600
    Nielsen Finance LLC, 4.734%, 8/01/14   3,825     3,853,688
    ProtoStar I Ltd., 12.50%, 10/15/12 (b)(e)(j)   3,345     3,244,435
    R.H. Donnelley Corp., 11.75%, 5/15/15 (b)   2,443     1,807,690
    Rainbow National Services LLC, 8.75%, 9/01/12 (b)   925     935,406
    Rainbow National Services LLC, 10.375%, 9/01/14 (b)   3,134     3,318,122
    Salem Communications Corp., 7.75%, 12/15/10   2,000     1,715,000
    Sinclair Broadcast Group, Inc. Class A, 4.875%, 7/15/18 (j)   460     422,625
    Sirius Satellite Radio, Inc., 9.625%, 8/01/13   185     151,700
    TL Acquisitions, Inc., 10.50%, 1/15/15 (b)   4,500     3,960,000
    Windstream Regatta Holdings, Inc., 11%, 12/01/17 (b)   1,575     1,023,750
              42,494,893
Metals & Mining - 1.2%   AK Steel Corp., 7.75%, 6/15/12   2,200     2,255,000
    Freeport-McMoRan Copper & Gold, Inc.,          
    5.883%, 4/01/15 (e)   1,495     1,502,206
    Freeport-McMoRan Copper & Gold, Inc.,          
    8.375%, 4/01/17 (f)   3,495     3,661,013
              7,418,219
Multiline Retail - 0.7%   JC Penny Corp. Inc., 8%, 3/01/10 (f)   4,400     4,532,207
    Neiman Marcus Group, Inc., 9%, 10/15/15 (c)   73     71,357
              4,603,564
Oil, Gas & Consumable Fuels -   Berry Petroleum Co., 8.25%, 11/01/16   550     541,750
2.1%   Chaparral Energy, Inc., 8.50%, 12/01/15   1,210     1,043,625
    Chesapeake Energy Corp., 6.375%, 6/15/15   650     614,250
    Compton Petroleum Finance Corp., 7.625%, 12/01/13   700     682,500
    EXCO Resources, Inc., 7.25%, 1/15/11   495     490,050
    Encore Acquisition Co., 6%, 7/15/15   250     226,250
    OPTI Canada, Inc., 8.25%, 12/15/14   1,990     2,004,925
    Overseas Shipholding Group, Inc., 8.75%, 12/01/13   1,650     1,716,000
    Sabine Pass LNG LP, 7.50%, 11/30/16   1,515     1,302,900
    SandRidge Energy, Inc., 6.416%, 4/01/14 (b)(e)   1,500     1,472,302
    SandRidge Energy, Inc., 8.625%, 4/01/15 (b)(c)   1,500     1,513,125
    Whiting Petroleum Corp., 7.25%, 5/01/12   160     157,200
    Whiting Petroleum Corp., 7.25%, 5/01/13   1,390     1,358,725
              13,123,602
Paper & Forest Products - 0.5%   Bowater, Inc., 5.776%, 3/15/10 (e)   670     549,400
    Domtar Corp., 7.875%, 10/15/11   140     139,650
    Domtar Corp., 7.125%, 8/15/15   300     282,000
    NewPage Corp., 9.051%, 5/01/12 (e)   1,500     1,425,000

4

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
           Par      
Industry   Corporate Bonds    (000)     Value
    NewPage Corp., 10%, 5/01/12 $ 665   $ 636,738
    NewPage Corp., 12%, 5/01/13   200     191,500
              3,224,288
Real Estate Investment Trusts   Rouse Co. LP, 5.375%, 11/26/13 (f)   2,000     1,537,874
(REITs) - 0.2%              
Semiconductors &   Amkor Technology, Inc., 7.75%, 5/15/13   2,063     1,887,645
Semiconductor Equipment -   Amkor Technology, Inc., 9.25%, 6/01/16   310     293,725
0.7%   Freescale Semiconductor, Inc., 8.875%, 12/15/14   940     796,650
    Freescale Semiconductor, Inc., 9.125%, 12/15/14 (c)   1,305     1,057,050
              4,035,070
Software - 0.0%   BMS Holdings, Inc., 9.954%, 2/15/12 (b)(c)(e)   491     304,597
Specialty Retail - 2.5%   AutoNation, Inc., 4.791%, 4/15/13 (e)   690     569,250
    AutoNation, Inc., 7%, 4/15/14   690     594,263
    General Nutrition Centers, Inc., 7.199%, 3/15/14 (c)(e)   2,250     1,868,190
    General Nutrition Centers, Inc., 10.75%, 3/15/15   1,880     1,583,900
    Group 1 Automotive, Inc., 8.25%, 8/15/13 (f)   5,000     4,550,000
    Lazy Days' R.V. Center, Inc., 11.75%, 5/15/12   1,475     980,875
    Michaels Stores, Inc., 10%, 11/01/14 (f)   1,895     1,520,737
    Michaels Stores, Inc., 11.375%, 11/01/16 (f)   1,565     1,103,325
    Sonic Automotive, Inc. Series B, 8.625%, 8/15/13   3,500     2,800,000
              15,570,540
Tobacco - 0.2%   Reynolds American, Inc., 7.625%, 6/01/16   1,000     1,033,397
Wireless Telecommunication   Cricket Communications, Inc., 9.375%, 11/01/14   270     264,600
Services - 1.2%   Digicel Group Ltd., 8.875%, 1/15/15 (b)   1,120     1,033,200
    Digicel Group Ltd., 9.125%, 1/15/15 (b)(c)   2,467     2,232,635
    MetroPCS Wireless, Inc., 9.25%, 11/01/14   360     349,200
    Nordic Telephone Co. Holdings ApS,          
    8.875%, 5/01/16 (b)   3,850     3,715,250
              7,594,885
    Total Corporate Bonds - 38.2%         236,130,798
    Foreign Government Obligations          
    Colombia Government International Bond,          
    9.75%, 4/23/09 (f)   5,000     5,217,500
    Peru Government International Bond,          
    8.375%, 5/03/16 (f)   4,871     5,723,425
    Turkey Government International Bond, 7%, 9/26/16   5,093     5,131,197
    Total Foreign Government Obligations - 2.6%         16,072,122
    U.S. Government Agency Mortgage-Backed Securities          
    Fannie Mae Guaranteed Pass-Through Certificates:          
          5.00%, 8/15/23 - 9/15/23 (k)   121,000     118,717,208
          5.50%, 12/01/28 - 11/01/33 (l)   7,840     7,719,772
    Total U.S. Government Agency Mortgage-Backed          
    Securities - 20.4%         126,436,980

5

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
Industry   Floating Rate Loan Interests (000)     Value
Aerospace & Defense - 1.0%   Avio Holding SpA Term Loan B, 6.377%, 9/25/14 $ 500   $ 455,357
    Avio Holding SpA Term Loan C, 5.213%, 9/25/15   500     455,357
    Hawker Beechcraft Acquisition Co. LLC Letter of Credit,          
    4.801%, 3/31/14   255     237,419
    Hawker Beechcraft Acquisition Co. LLC Term Loan B,          
    4.801%, 3/31/14   4,581     4,258,658
    IAP Worldwide Services, Inc. Term Loan,          
    8.25%, 12/31/12   582     461,131
    Wesco Aircraft Hardware Corp. First Lien          
    Term Loan, 5.06%, 9/25/13   486     464,977
              6,332,899
Airlines - 0.3%   US Airways Group, Inc. Term Loan B, 4.963%, 3/22/14   2,970     1,933,470
Auto Components - 1.0%   Allison Transmission Term Loan B,          
    5.21% - 5.47%, 8/07/14   4,132     3,693,854
    Delphi Automotive Systems Delay Draw Term Loan,          
    8.50%, 12/31/08   79     69,805
    Delphi Automotive Systems Term Loan,          
    8.50%, 12/31/08   771     685,420
    Mark IV Industries First Lien Term Loan,          
    7.08% - 8.26%, 6/01/11   864     613,093
    Metaldyne Corp. Letter of Credit,          
    6.563% - 9.07%, 1/15/12   98     60,644
    Metaldyne Corp. Term Loan B, 6.50%, 1/11/14   667     412,381
    Motorsport Aftermarket Group Term Loan B,          
    5.301%, 11/03/13   493     344,750
              5,879,947
Beverages - 0.3%   Culligan International Second Lien Term Loan,          
    9.197% - 9.615%, 5/25/13 EUR 1,500     1,169,883
    Le-Nature's, Inc. Term Loan B, 9.50%, 12/28/12 (g)(h) $ 1,000     570,000
              1,739,883
Biotechnology - 0.1%   Talecris Biotherapeutics, Inc. First Lien Term Loan,          
    6.18%, 11/13/14   995     912,866
Building Products - 1.4%   Armstrong World Term Loan B, 4.208%, 10/02/13   195     190,143
    Building Material Corp. of America First Lien Term Loan,          
    5.438% - 5.563%, 2/22/14   2,463     2,119,490
    Custom Building Products Second Lien Term Loan,          
    7.801%, 4/29/12   1,500     1,177,500
    Lafarge Roofing SA Term Loan B, 4.608%, 5/01/15   278     155,715
    Lafarge Roofing SA Term Loan B, 6.856%, 5/01/15 EUR 1,021     889,630
    Lafarge Roofing SA Term Loan C, 4.858%, 5/01/16 $ 285     159,461
    Lafarge Roofing SA Term Loan C, 7.106%, 5/01/16 EUR 1,019     887,838
    Momentive Performance Materials, Inc. Term Loan B,          
    4.75%, 12/04/13 $ 968     883,255

6

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
Industry   Floating Rate Loan Interests (000)     Value
    Momentive Performance Materials, Inc. Term Loan B,          
    6.621%, 12/04/13 EUR 1,000   $ 1,337,566
    United Subcontractors Inc. First Lien Term Loan,          
    7.25% - 8.14%, 12/27/12 $ 1,812     1,059,746
              8,860,344
Capital Markets - 0.1%   Marsico Parent Co., LLC Term Loan B,          
    5.75% - 7%, 11/14/14   498     422,875
Chemicals - 4.0%   BOC Edwards Ltd. Term Loan B, 4.644%, 5/21/14   495     415,800
    Brenntag AG Term Loan B, 6.793%, 11/24/37 EUR 500     712,775
    Cognis Deutschland Term Loan A, 6.961%, 11/17/13   803     1,148,051
    Cognis Deutschland Term Loan B, 6.961%, 11/16/13   197     281,155
    Flint Group Term Loan B, 4.88%, 5/30/15 $ 2,000     1,660,000
    Huish Detergents, Inc. First Lien Term Loan,          
    4.81%, 4/15/14   1,250     1,140,625
    ISP Chemco Term Loan B, 4% - 4.25%, 5/25/14   1,485     1,360,012
    Ineos Group Plc Term Loan A, 4.88% - 4.90%, 2/20/13   1,016     873,371
    Ineos Group Plc Term Loan B, 4.885%, 2/20/15   1,715     1,423,450
    Ineos Group Plc Term Loan C, 5.385%, 2/20/14   1,715     1,423,450
    Invista Term Loan B1, 4.301%, 4/29/11   1,274     1,203,562
    Invista Term Loan B2, 4.301%, 4/29/11   675     637,977
    Lucite International Finance Plc,          
    13.96%, 7/03/14 (c) EUR 1,105     1,046,846
    PQ Corp. First Lien Term Loan, 5.92% - 6.05%, 5/29/15 $ 4,000     3,737,500
    PQ Corp. Second Lien Term Loan, 9.30%, 5/29/16   3,250     2,811,250
    Rockwood Specialties Group, Inc. Tranche D Term Loan,          
    4.299%, 12/10/12   966     927,089
    Solutia, Inc. Term Loan, 8.50%, 2/28/14   1,000     948,750
    Viridian Group Plc Term Loan, 8.744%, 4/20/12 EUR 894     1,233,656
    Viridian Group Plc Term Loan, 9.654%, 12/21/12 GBP 900     1,572,101
              24,557,420
Commercial Services &   ARAMARK Corp. Letter of Credit, 5.025%, 1/30/14 $ 184     175,357
Supplies - 1.8%   ARAMARK Corp. Term Loan B, 4.676%, 1/30/14   2,907     2,760,233
    Brickman Group, Inc. Term Loan, 4.801%, 1/30/14   1,234     1,117,109
    EnviroSolutions Term Loan B, 11.50%, 7/01/12   500     450,000
    Euramax International Plc Second Lien Term Loan,          
    10.791%, 6/21/13   83     56,368
    Euramax International Plc Second Lien Term Loan,          
    10.791%, 6/29/13   167     113,632
    Kion GmbH Term Loan B, 4.563%, 3/04/15   250     217,232
    Kion GmbH Term Loan C, 5.063% 3/04/16   250     217,232
    Language Line Services Term Loan B1, 6.06%, 11/14/11   729     681,863
    Sirva Worldwide Tranche B Term Loan,          
    6.21%, 12/01/10 (g)(h)   644     305,978

7

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)

        Par      
Industry   Floating Rate Loan Interests   (000)     Value
    Synagro Technologies, Inc. Term Loan B,            
    4.69% - 4.81%, 3/31/14   $ 2,743   $ 2,304,181
    West Corp. Term Loan, 4.838% - 5.171%, 10/31/13     2,955     2,647,117
                11,046,302
Communications Equipment -   Alltel Corp. Term Loan B2, 5.564%, 5/16/15     1,744     1,721,605
1.4%   Alltel Corp. Term Loan B3, 5.208%, 5/18/15     5,219     5,189,649
    SafeNet, Inc. First Lien Term Loan, 5.788%, 4/12/14     1,980     1,712,700
                8,623,954
Computers & Peripherals - 0.6%   Intergraph Corp. Second Lien Term Loan,            
    8.646%, 11/17/14     750     718,594
    Intergraph Corp. Term Loan, 4.646%, 5/15/14     1,431     1,356,907
    Reynolds and Reynolds Co. First Lien Term Loan,            
    4.801%, 10/31/12     1,930     1,787,619
                3,863,120
Construction & Engineering -   Brand Energy & Infrastructure Services, Inc. Term Loan B,            
0.2%   5.063%, 2/15/14     993     905,940
    Brand Energy & Infrastructure Services, Inc. Term Loan B,            
    8.688% - 8.813%, 2/15/15     500     457,500
                1,363,440
Containers & Packaging - 1.2%   Atlantis Plastics Second Lien Term            
    Loan, 12.25%, 3/22/12 (g)(h)     250     43,750
    Consolidated Container Co. LLC Second Lien Term Loan,            
    7.963% - 8.296%, 10/15/14     350     176,750
    Graham Packaging Co. LP Term            
    Loan B, 5% - 5.063%, 4/15/11     2,095     1,992,580
    Graphic Packaging International Corp. Term Loan B, 5.535%            
    - 5.67%, 5/16/14     2,363     2,266,754
    Mivisa Envases SAU Term Loan B, 7.087%, 6/03/15   EUR 1,000     1,353,944
    Smurfit-Stone Container Corp. Deposit Account,            
    4.913%, 11/01/10   $ 568     548,329
    Solo Cup Co. Term Loan, 5.97% - 6.14%, 2/27/11     1,204     1,170,507
                7,552,614
Distributors - 0.2%   Keystone Automotive Operations, Inc. Term Loan B,            
    5.966% - 6.234%, 1/15/12     1,434     1,118,232
Diversified Consumer   Coinmach Laundry Corp. Term Loan B, 5.70%, 11/15/14     4,738     4,347,202
Services - 0.7%                
Diversified Financial Services -   JG Wentworth Manufacturing First Lien Term Loan,            
0.7%   5.051%, 4/03/14     4,000     3,260,000
    JG Wentworth Manufacturing Term Loan B,            
    5.051%, 4/15/14     400     326,000
    Professional Services Term Loan, 5.22%, 10/31/12     752     676,849
                4,262,849
Diversified Telecommunication   Country Road Communications Second Lien Term Loan,            
Services - 1.5%   10.42%, 7/15/13     500     485,000
    Eircom Group Plc Term Loan B, 6.856%, 8/14/14   EUR 2,000     2,855,905
    Eircom Group Plc Term Loan C, 6.606%, 8/14/13     2,000     2,856,014
    Hawaiian Telcom Term Loan C, 5.301%, 5/25/14   $ 648     508,512

8

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
Industry   Floating Rate Loan Interests (000)     Value
    Time Warner Telecom Term Loan B, 4.47%, 2/23/14 $ 2,023   $ 1,931,121
    Wind Telecomunicazione SpA Term Loan A,          
    6.221% - 6.89%, 9/22/12 EUR 653     949,795
              9,586,347
Electric Utilities - 0.2%   TPF Generation Holdings LLC First Lien Term Loan, 4.801%,          
    11/28/13 $ 743     712,805
    TPF Generation Holdings LLC Letter of Credit,          
    4.696%, 11/28/13   151     144,427
    TPF Generation Holdings LLC Revolving Credit,          
    6.83%, 11/28/13   47     45,275
              902,507
Electrical Equipment - 0.4%   Electrical Components International Holdings Second Lien          
    Term Loan, 9.46%, 5/05/14   500     225,000
    Generac Power Systems, Inc. First Lien Term Loan, 5.288%,          
    11/15/13   1,479     1,178,316
    Sensus Metering Systems, Inc. Term Loan B-1,          
    4.46% - 4.786%, 12/17/10   1,057     987,848
    Sensus Metering Systems, Inc. Term Loan B-2,          
    4.46%, 12/19/10   27     25,458
              2,416,622
Electronic Equipment &   Deutsch Connectors Term Loan B, 5.384%, 7/27/14   34     30,996
Instruments - 0.9%   Deutsch Connectors Term Loan B2, 5.384%, 7/27/14   457     414,242
    Deutsch Connectors Term Loan C, 5.634%, 7/27/15   852     772,825
    Flextronics International Ltd. Delay Draw Term Loan,          
    5.046%, 10/01/14   223     201,451
    Flextronics International Ltd. Delay Draw Term Loan,          
    5.041%, 10/05/14   886     799,254
    Flextronics International Ltd. Term Loan B,          
    5.038% - 5.041%, 10/05/12   3,099     2,843,134
    Flextronics International Ltd. Term Loan B,          
    5.038% - 5.041%, 10/01/14   760     685,800
              5,747,702
Energy Equipment & Services -   Dresser, Inc. First Lien Term Loan,          
0.8%   4.713% - 5.213%, 5/15/14   3,432     3,286,493
    MEG Energy Corp. Term Loan B, 4.80%, 4/03/13   489     467,062
    Trinidad Energy Services Term Loan, 4.971%, 4/15/11   1,466     1,385,606
              5,139,161
Food & Staples Retailing - 2.2%   Advantage Sales & Marketing Term Loan B,          
    4.46% - 4.81%, 4/15/13   973     907,539
    Alliance Boots Plc Term Loan B, 8.1104%, 7/09/15 GBP 4,000     7,056,492
    Bolthouse Farms, Inc. First Lien Term Loan,          
    5.063%, 11/29/12 $ 975     939,656
    DS Waters LP Term Loan B, 6.471%, 3/31/12   500     465,000
    Dole Food Co., Inc. Letter of Credit, 4.788%, 4/12/13   280     257,358
    Dole Food Co., Inc. Term Loan B, 4.75% - 6%, 4/12/13   521     479,747

9

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
        Par      
Industry   Floating Rate Loan Interests   (000)     Value
    Dole Food Co., Inc. Term Loan C, 4.813% - 6%, 3/31/13 $ 2,050   $ 1,886,754
    Sturm Foods, Inc. First Lien Term Loan,          
    5.375%, 1/22/14   1,355     1,131,670
    Sturm Foods, Inc. First Lien Term Loan,          
    8.875%, 1/30/14 (c)   500     417,500
    Sturm Foods, Inc. Second Lien Term Loan,          
    8.875%, 11/12/37   500     306,667
              13,848,383
Food Products - 1.1%   Eight O'Clock Coffee First Lien Term Loan, 5.25%, 7/21/12   1,813     1,740,696
    Michael Foods Term Loan B, 5.194% - 6.845%, 11/21/10   2,167     2,123,436
    OSI Industries Term Loan B, 4.801%, 9/02/11   1,444     1,418,484
    OSI Industries Term Loan B, 4.801%, 9/02/11   1,444     1,418,484
              6,701,100
Health Care Equipment &   Biomet, Inc. Term Loan B, 5.801%, 3/25/14   4,466     4,378,787
Supplies - 1.2%   ReAble Therapeutics Finance LLC Term Loan,          
    5.463%, 5/14/14   2,488     2,406,656
    Select Medical Term Loan B, 4.63% - 6%, 2/24/12   965     896,710
              7,682,153
Health Care Providers &   CCS Medical First Lien Term Loan, 6.06%, 10/31/12   840     692,649
Services - 2.3%   Community Health Systems, Inc. Term Loan B,          
    4.71% - 4.899%, 7/25/14   8,188     7,746,889
    Health Management Associates, Inc. Term Loan B,          
    4.71%, 1/15/14   886     817,587
    HealthSouth Corp. Term Loan B, 5.29%, 3/12/14   801     754,144
    PTS Cardinal Health Term Loan B, 7.205%, 11/19/37 EUR 1,980     2,717,871
    Surgical Care Affiliates Term Loan B, 5.051%, 12/26/14 $ 1,987     1,748,961
              14,478,101
Health Care Technology - 0.2%   Misys Hospital Systems, Inc. Term Loan B,          
    5.72% - 6.051%, 10/11/14   1,493     1,395,488
Hotels, Restaurants &   Green Valley Ranch Gaming LLC Term Loan,          
Leisure - 2.4%   4.644% - 4.801%, 1/29/12   476     374,906
    Green Valley Ranch Gaming LLC Term Loan,          
    5.894%, 8/30/14   1,500     870,000
    Harrah's Entertainment, Inc. Term Loan B2,          
    5.80% - 5.801%, 1/29/15   698     618,201
    Harrah's Entertainment, Inc. Term Loan B3,          
    5.80% - 5.801%, 1/29/15   810     714,270
    Harrah's Operating Term Loan B,          
    5.80% - 5.801%, 1/31/15   554     489,063
    MotorCity Casino Term Loan B, 4.808%, 7/21/12   1,665     1,523,562
    OSI Restaurant Partners, Inc. Revolving Credit,          
    4.846%, 5/15/14   39     32,432
    OSI Restaurant Partners, Inc. Term Loan B,          
    5.125%, 5/15/14   403     334,868

10

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
        Par      
Industry   Floating Rate Loan Interests   (000)     Value
    Penn National Gaming, Inc. Term Loan B,          
    4.21% - 4.55%, 10/03/12 $ 4,046   $ 3,873,930
    QCE LLC First Lien Term Loan, 4.813%, 5/05/13   1,960     1,658,160
    Travelport, Inc. Standby Letter of Credit,          
    5.051%, 8/31/13   29     24,249
    Travelport, Inc. Term Loan,          
    9.793%, 3/20/12 (c)   4,216     2,740,546
    Travelport, Inc. Term Loan B, 4.713%, 8/31/13   145     120,851
    Venetian Macau US Finance Co. LLC Delay Draw Term          
    5.06%, 4/11/13   362     347,879
    Venetian Macau US Finance Co. LLC Term Loan Revolving          
    5.06%, 5/26/11   638     614,442
    Wembley, Inc. First Lien Term Loan,          
    6.63% - 7.19%, 8/12/12   491     363,636
              14,700,995
Household Durables - 0.4%   Berkline Corp. First Lien Term Loan,          
    6.578%, 11/10/11 (i)   95     4,735
    Jarden Corp. Term Loan B3, 5.301%, 1/24/12   995     915,377
    Visant Holding Corp. Term Loan C, 5.171%, 10/04/11   385     375,091
    Yankee Candle Co., Inc. Term Loan B,          
    4.49% - 4.81%, 2/06/14   1,000     898,333
              2,193,536
Household Products - 0.2%   Central Garden & Pet Term Loan B, 3.97%, 9/30/12   1,082     951,793
IT Services - 2.5%   Affiliated Computer Services Term Loan B, 4.46%, 3/20/13   732     707,484
    Amadeus Global Travel Distribution SA Term Loan B,          
    6.45%, 6/30/13 EUR 307     407,506
    Amadeus Global Travel Distribution SA Term Loan B-4,          
    6.45%, 6/30/13   186     246,776
    Amadeus Global Travel Distribution SA Term Loan C,          
    6.95%, 6/30/14   307     407,506
    Amadeus Global Travel Distribution SA Term Loan C-4,          
    6.95%, 6/30/14   186     246,776
    Audio Visual Services Corp. Second Lien Term Loan,          
    8.31%, 9/15/14 $ 1,000     890,000
    Ceridian Corp. Term Loan, 5.456%, 11/07/14   3,500     3,255,000
    First Data Corp. Term Loan B, 5.211% - 5.551%, 9/24/14   3,701     3,401,767
    First Data Corp. Term Loan B2, 5.403%, 9/24/14   1,250     1,148,829
    First Data Corp. Term Loan B3, 5.403%, 9/24/14   850     780,634
    RedPrairie Corp. First Lien Term Loan,          
    5.688% - 7%, 7/17/12   689     647,384
    SunGard Data Systems, Inc. Term Loan B, 4.508%, 2/28/14   2,426     2,282,151
    Verifone, Inc. Term Loan B, 5.65%, 2/28/13   930     888,150
              15,309,963
Independent Power Producers   The AES Corp. Term Loan, 5.17% - 7%, 8/10/11   429     420,000
Energy Traders - 1.7%   TXU Corp. Term Loan B-2, 5.96% - 6.478%, 10/14/29   2,978     2,797,787
    TXU Corp. Term Loan B-3, 6.234% - 6.478%, 10/10/14   7,306     6,839,319
              10,057,106

11

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
        Par      
Industry   Floating Rate Loan Interests   (000)     Value
Industrial Conglomerates - 0.1%   Trimas Corp. Letter of Credit, 4.803%, 8/02/11 $ 94   $ 83,906
    Trimas Corp. Term Loan B, 4.71% - 5.045%, 8/02/13   399     357,231
              441,137
Insurance - 0.3%   Conseco Term Loan B, 4.463%, 10/10/13   737     642,935
    Sedgwick Claims Management Service, Inc.          
    Term Loan B, 5.051%, 3/03/13   1,070     1,013,807
              1,656,742
Internet & Catalog Retail - 0.2%   FTD Flowers Term Loan, 4.213%, 7/28/13   608     590,245
    Oriental Trading First Lien Term Loan,          
    4.72% - 4.90%, 7/31/13   956     778,822
              1,369,067
Leisure Equipment & Products -   24 Hour Fitness Term Loan B, 4.97%, 6/08/12   978     918,850
0.1%              
Life Sciences Tools &   Quintiles Transnational Term Loan B, 4.81%, 3/21/13   977     927,403
Services - 0.2%              
Machinery - 1.5%   Blount, Inc. US Term Loan B, 4.221%, 8/09/10   726     700,302
    Lincoln Industrials Second Lien Term Loan,          
    8.21%, 12/18/14   1,500     1,380,000
    NACCO Materials Handling Group Term Loan B,          
    4.463% - 6%, 3/21/13   490     436,100
    Navistar International Transportation Corp. Revolving          
    Credit, 5.903% - 6.046%, 6/30/12   1,000     921,250
    Navistar International Transportation Corp. Term Loan,          
    6.0463% - 6.292%, 6/30/12   2,750     2,533,438
    OshKosh Truck Corp. Term Loan B,          
    4.21% - 4.43%, 11/30/13   2,444     2,225,340
    Standard Steel Delay Draw Term Loan,          
    4.97% - 6.50%, 6/21/12   83     75,075
    Standard Steel First Lien Term Loan,          
    5.31%, 6/21/12   408     371,583
    Wastequip Delay Draw Term Loan, 5.051%, 1/17/13   287     230,284
    Wastequip Term Loan B, 5.051%, 1/17/13   683     546,924
              9,420,296
Marine - 0.4%   Dockwise Shipping BV Term Loan B, 5.176%, 4/26/15   1,489     1,362,214
    Dockwise Shipping BV Term Loan C, 5.675%, 4/26/16   1,489     1,362,214
              2,724,428
Media - 14.2%   Acosta, Inc. Term Loan, 4.72%, 2/28/14   980     913,850
    Affinion Group, Inc. Term Loan, 9.267%, 1/31/12   500     405,000
    Affinion Group, Inc. Term Loan, 9.267%, 3/01/12   500     405,000
    Alix Partners Term Loan B, 4.79%, 10/30/13   1,446     1,359,277
    Atlantic Broadband Finance Term Loan B, 5.06%, 2/27/14   980     939,258
    Cablevision Systems Corp. Term Loan B, 4.206%, 3/23/13   2,910     2,754,193
    Catalina Marketing Group Term Loan, 5.801%, 10/01/14   2,977     2,781,459
    Cequel Communications LLC Term Loan B,          
    4.685% - 6%, 11/05/13   7,416     6,875,070

12

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
Industry   Floating Rate Loan Interests (000)     Value
    Charter Communications, Inc. Term Loan B,          
    4.80%, 11/23/37 $ 3,970   $ 3,486,982
    Choice Cable Second Lien Term Loan, 10.313%, 1/28/12   692     553,846
    Cinemark Term Loan, 4.43% - 4.93%, 10/05/13   1,105     1,038,994
    Clarke American Corp. Term Loan B,          
    5.291% - 5.301%, 3/12/13   3,401     2,784,693
    ClientLogic Holding Corp. Term Loan B,          
    4.963% - 6.50%, 1/30/14   967     832,423
    Dex Media West Term Loan B2, 7%, 10/22/14   2,250     2,119,219
    Discovery Communications Term Loan B,          
    4.801%, 5/15/13   1,487     1,450,300
    Education Media and Publishing Second Lien Term Loan,          
    11.956%, 11/14/14   8,752     7,263,943
    Formula One Group Second Lien Term Loan,          
    4.856%, 7/05/14   643     542,143
    Formula One Group Term Loan B, 4.856%, 12/31/13   1,000     911,667
    Formula One Group Term Loan B, 4.856%, 1/05/14   857     781,429
    GateHouse Media Operating, Inc. Delay Draw Term Loan,          
    4.65% - 4.80%, 9/15/14   592     347,604
    GateHouse Media Operating, Inc. Term Loan B,          
    4.65%, 9/15/14   1,000     587,500
    Getty Images, Inc. Term Loan, 7.25%, 6/30/15   750     743,438
    Gray Communications Systems, Inc. First Lien Delay Draw          
    Term Loan, 4.29% - 5.25%, 9/18/14   1,800     1,527,820
    HIT Entertainment Ltd. First Lien Term Loan,          
    4.79%, 8/31/12   366     316,605
    HIT Entertainment Ltd. Second Lien Term Loan,          
    8.29%, 2/24/13   1,000     825,000
    Hanley-Wood LLC Term Loan B, 4.708% - 4.71%, 3/07/14   1,492     1,162,284
    Insight Midwest Holdings LLC Term Loan B,          
    4.47%, 4/06/14   3,550     3,408,554
    Knology, Inc. First Lien Term Loan, 5.038%, 5/11/10   495     455,400
    Mediacom Communications Term Loan D,          
    4.21% - 4.22%, 1/31/15   1,970     1,796,394
    Mediacom LLC Term Loan C, 4.21% - 4.22%, 1/31/15   1,945     1,772,723
    Metro-Goldwyn-Mayer Studios, Inc. Term Loan B,          
    6.051%, 4/30/11   3,890     2,985,614
    Multicultural Radio Broadcasting Inc. Term Loan,          
    5.422%, 12/15/12   349     316,281
    NTL Cable Plc Second Lien Term Loan, 8.267%, 7/17/13 GBP 2,000     3,462,834
    NTL Cable Plc Term Loan, 8.147%, 11/19/37   1,256     2,226,425
    NTL Cable Plc Term Loan B, 4.799%, 1/10/13 $ 406     382,511
    New Vision Television Term Loan B, 5.69%, 10/21/13   995     890,514

13

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
Industry   Floating Rate Loan Interests (000)     Value
    New Wave Communications Delay Draw Term Loan,          
    5.881% - 7.75%, 6/30/13 $ 237   $ 223,076
    New Wave Communications Term Loan B,          
    5.881%, 6/30/13   933     877,373
    Newsday LLC Term Loan, 9.75%, 7/02/13   1,500     1,493,438
    Nexstar Broadcasting Group Term Loan,          
    4.416%, 10/01/12   1,892     1,712,625
    Nexstar Broadcasting Group Term Loan B,          
    4.416%, 10/01/12   1,791     1,621,000
    Nielsen Finance LLC Term Loan B, 4.734%, 8/15/13   3,439     3,193,758
    PanAmSat Corp. Term Loan B, 5.288%, 1/03/14   986     929,236
    PanAmSat Corp. Term Loan B2, 5.288%, 1/03/14   986     929,516
    PanAmSat Corp. Term Loan B2C, 5.288%, 1/03/14   986     929,236
    Penton Media Term Loan, 4.713% - 5.049%, 2/15/13   1,111     877,641
    Penton Media Term Loan, 7.799%, 2/15/14   1,000     690,000
    ProSiebenSat 1 Media AG Mezzanine Term Loan,          
    7.02%, 6/28/17 EUR 432     180,428
    ProSiebenSat 1 Media AG Second Lien Term Loan,          
    6.77% - 8.145%, 12/28/16   1,432     782,019
    ProSiebenSat 1 Media AG Term Loan B, 6.875%, 6/30/15   68     69,251
    ProSiebenSat 1 Media AG Term Loan B, 7.107%, 6/30/16   68     69,251
    San Juan Cable First Lien Term Loan, 9.47%, 10/26/12 $ 1,687     1,472,249
    Thomson Learning, Inc. Term Loan B 2, 4.98%, 7/05/14   3,750     3,712,500
    United Pan Europe Communications Term Loan M,          
    6.437%, 11/19/37 EUR 1,413     1,933,606
    United Pan Europe Communications Term Loan N,          
    4.221%, 12/31/14 $ 2,000     1,872,000
    Yell Group Plc Term Loan B, 6.467%, 4/30/11 EUR 1,500     2,080,929
    Yell Group Plc Term Loan B, 4.463%, 8/09/13 $ 1,000     869,167
              87,924,546
Metals & Mining - 0.1%   Compass Minerals Group, Inc. Term Loan,          
    3.97% - 6.59%, 12/22/12   780     751,224
Multi-Utilities - 0.6%   Coleto Creek Letter of Credit, 5.551%, 7/31/13   127     115,074
    Coleto Creek Term Loan B, 5.551%, 7/31/13   1,807     1,632,758
    MACH Gen LLC Letter of Credit, 4.801%, 2/22/14   70     67,184
    MACH Gen LLC Term Loan, 4.638%, 2/22/14   668     638,736
    NE Energy Letter of Credit, 5.313%, 10/03/13   159     150,081
    NE Energy Term Loan B, 5.31%, 10/31/13   1,290     1,221,671
              3,825,504
Multiline Retail - 0.3%   Neiman Marcus Group, Inc. Term Loan,          
    4.422%, 4/06/13   1,940     1,807,853
Oil, Gas & Consumable Fuels -   Abbot Group Plc Bridge Loan, 17.276%, 3/15/18   3,000     2,940,000
1.2%   Big West Oil & Gas Delay Draw Term Loan,          
    4.458% - 4.463%, 5/15/14   550     500,500
    Big West Oil & Gas Term Loan B,          
    4.463%, 5/15/14   440     400,400

14

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
Industry   Floating Rate Loan Interests (000)     Value
    CR Gas Storage Bridge Loan, 4.843%, 5/08/11 $ 29   $ 26,721
    CR Gas Storage Delay Draw Term Loan, 4.844%, 5/08/13   51     47,039
    CR Gas Storage Term Loan, 4.534%, 5/08/13   455     420,745
    CR Gas Storage Term Loan B, 4.411%, 5/08/13   75     69,442
    Coffeyville Resources LLC Letter of Credit,          
    5.641%, 12/21/13   243     225,203
    Coffeyville Resources LLC Term Loan D,          
    5.541% - 6.75%, 12/28/13   787     728,969
    Drummond Oil Term Loan B, 4%, 2/15/12   1,425     1,382,250
    Western Refining Co. LP Term Loan B, 7.75%, 5/30/14   919     823,623
              7,564,892
Paper & Forest Products - 1.9%   Boise Cascade Holdings LLC Second Lien Term Loan,          
    7.50%, 2/05/15   1,247     1,240,900
    Georgia-Pacific Corp. First Lien Term Loan B,          
    4.399% - 4.551%, 2/14/13   2,411     2,273,785
    Georgia-Pacific Corp. Term Loan B,          
    4.399% - 4.551%, 11/22/12   3,500     3,301,106
    Georgia-Pacific Corp. Term Loan B2,          
    4.446% - 4.551%, 3/08/13   2,481     2,340,114
    NewPage Corp. Tem Loan B, 6.563%, 12/07/14   1,990     1,964,295
    Verso Paper Holdings LLC Term Loan B, 9.033%, 2/01/13   560     527,334
              11,647,534
Personal Products - 0.5%   American Safety Razor Co. Second Lien Term Loan,          
    8.72% - 8.89%, 1/25/14   1,500     1,365,000
    Bare Escentuals Beauty, Inc. First Lien Term Loan,          
    4.71%, 2/18/12   340     330,889
    Prestige Brands Term Loan B1,          
    4.713% - 5.043%, 10/06/10   1,142     1,110,396
              2,806,285
Real Estate Management &   Enclave Term Loan B, 6.14%, 3/01/12   3,000     2,616,759
Development - 1.1%   Georgian Towers Term Loan, 6.14%, 3/01/12   3,000     2,556,966
    Pivotal Promontory Second Lien Term Loan,          
    11.50%, 8/11/11 (g)(h)   750     112,500
    Realogy Corp. Term Loan B, 5.459%, 9/22/14   1,485     1,209,038
    Yellowstone Club Term Loan B, 4.838%, 10/15/10   409     339,747
              6,835,010
Road & Rail - 0.2%   Rail America, Inc. Term Loan, 6.79%, 6/23/09   91     90,744
    Rail America, Inc. Term Loan B, 6.79%, 6/23/09   1,409     1,398,234
              1,488,978
Semiconductors &   Marvell Technology Group Term Loan B,          
Semiconductor Equipment -   4.963%, 11/08/09   731     695,281
0.1%              
Software - 0.2%   Bankruptcy Management Solutions, Inc. First Lien Term          
    Loan, 6.47%, 7/06/12   983     913,725

15

BlackRock Limited Duration Income Trust          
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
         Par      
Industry   Floating Rate Loan Interests (000)     Value
    CCC Information Services, Inc. Term Loan B,          
    5.06%, 2/10/13 $ 414   $ 405,248
              1,318,973
Specialty Retail - 1.2%   ADESA, Inc. Term Loan B, 5.06%, 10/30/13   1,737     1,543,184
    Burlington Coat Factory Warehouse Corp. Term Loan B,          
    4.90%, 4/15/13   586     465,414
    Claire's Stores Term Loan B, 5.399% - 5.551%, 5/24/14   1,236     847,185
    Eye Care Centers of America, Inc. Term Loan,          
    4.97% - 5.96%, 3/01/12   656     623,052
    Orchard Supply Hardware Term Loan B, 4.908%, 12/21/13   1,500     1,260,000
    Petco Animal Supplies, Inc. Term Loan B,          
    4.713% - 5.051%, 3/22/13   394     358,737
    Rent-A-Center Term Loan B, 4.47% - 4.57%, 6/30/12   805     756,254
    Sensata Technologies Term Loan B,          
    4.543% - 4.663%, 4/27/13   1,930     1,676,211
              7,530,037
Textiles, Apparel & Luxury   Hanesbrands, Inc. First Lien Term Loan,          
Goods - 0.4%   4.545% - 4.551%, 10/15/13   1,000     960,556
    Renfro Corp. Term Loan B, 5.92% - 7.25%, 10/05/13   463     381,870
    St. John Knits, Inc. Term Loan B, 5.461%, 8/24/13   660     613,973
    Warnaco, Inc. Term Loan, 4.114% - 5.50%, 1/31/13   295     276,344
              2,232,743
Trading Companies &   Beacon Sales Co. Term Loan B,          
Distributors - 0.2%   4.649% - 4.783%, 10/31/13   1,228     1,093,031
Wireless Telecommunication   Cellular South Term Loan B, 3.983% - 5.75%, 5/16/14   1,485     1,414,701
Services - 0.9%   Centennial Cellular Operating Co. Term Loan,          
    4.463% - 4.801%, 2/09/11   800     783,000
    Cricket Communications, Inc. Term Loan B,          
    6.50%, 6/14/13   700     683,570
    NG Wireless Delay Draw Term Loan, 6.75%, 11/12/37   140     133,356
    NG Wireless First Lien Term Loan,          
    5.523% - 5.551%, 11/12/37   610     579,144
    NTELOS Inc. Term Loan B, 5.27%, 8/14/11   1,687     1,644,617
              5,238,388
    Total Floating Rate Loan Interests - 58.9%         364,146,576
    U.S. Government and Agency Obligations          
    Fannie Mae, 7.25%, 1/15/10   17,000     18,030,302
    U.S. Treasury Notes, 3.375%, 12/15/08 (f)   17,000     17,102,272
    U.S. Treasury Notes, 3.875%, 5/15/09 (f)(l)   6,000     6,080,154
    U.S. Treasury Notes, 3.375%, 9/15/09 (f)   3,425     3,468,614
    U.S. Treasury Notes, 4.25%, 8/15/15 (f)   1,815     1,894,548
    Total U.S. Government Obligations - 7.5%         46,575,890
    Common Stocks   Shares      
Capital Markets - 0.1%   E*Trade Financial Corp. (g)   121,011     365,453
    Total Common Stocks - 0.1%         365,453
    Preferred Stocks          
Capital Markets - 0.0%   Marsico Parent Superholdco, LLC, 16.75% (b)   177     152,220
    Total Preferred Stocks - 0.0%         152,220

16

BlackRock Limited Duration Income Trust            
Schedule of Investments July 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)  
Industry   Warrants (m) Shares     Value  
Machinery - 0.0%   Synventive Molding Solutions (expires 1/15/13)   1   $ 0  
    Total Warrants - 0.0%         0  
      Beneficial        
      Interest        
    Other Interests (d) (000)        
Health Care Providers &   Critical Care Systems International, Inc. (i) $ 8     2,548  
Services - 0.0%                
Household Durables - 0.0%   Berkline Benchcraft Equity LLC (i)   3     0  
    Total Other Interests - 0.0%         2,548  
    Total Long-Term Investments            
    (Cost - $852,856,761) - 128.1%         792,296,175  
                 
        Par        
    Short-Term Securities   (000)        
U.S. Government Agency   Federal Home Loan Bank, 1.82%, 8/01/08   6,000     6,000,000  
Obligation - 1.3%   Fannie Mae, 2.41%, 10/30/08   2,000     1,988,150  
    Total Short-Term Securities            
    (Cost - $7,988,150) - 1.3%         7,988,150  
    Options Purchased Contracts        
Call Options   Marsico Parent Superholdco LLC, expiring December 2009            
    at $ 942.86   46     79,350  
    Total Options Purchased            
    (Cost - $44,978) - 0.0%         79,350  
    Total Investments            
    (Cost - $860,628,513*) - 129.4%         800,363,675  
    Liabilities in Excess of Other Assets - (29.4)%         (181,713,612 )
    Net Assets - 100.0%       $ 618,650,063  

*

The cost and unrealized appreciation (depreciation) of investments as of July 31, 2008, as computed for federal income tax purposes, were as follows:
 
Aggregate cost   $
      860,756,043
 
Gross unrealized appreciation       $
5,368,032
 
Gross unrealized depreciation    
(65,760,400
)
Net unrealized depreciation   $
(60,392,368
)

(a)    

Represents interest only portion of a mortgage-backed security and has either a nominal or notional amount of principal.

(b)    

Security exempt from registration under Rule 144a of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors. Unless otherwise indicated, these securities are considered to be liquid.

(c)    

Represents a pay-in-kind security which may pay interest/dividends in additional face/shares.

(d)    

Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income producing.
(e)    

Variable rate security. Rate shown is as of report date.

 

17

BlackRock Limited Duration Income Trust
Schedule of Investments July 31, 2008 (Unaudited)

(f)

All or a portion of security has been pledged as collateral in connection with reverse repurchase agreements. Reverse repurchase agreements as of July 31,2008 were as follows:
 

 
        Interest       Trade       Maturity       Net Closing       Face
Counterparty   Rate   Date   Date   Amount   Amount
Credit Suisse Securities LLC   2.50%   6/05/08   TBD   $ 3,960,743   $ 3,945,125
Credit Suisse Securities LLC   3.00   6/25/08   TBD     2,286,802     2,280,000
Credit Suisse Securities LLC   3.00   6/25/08   TBD     2,186,504     2,180,000
Credit Suisse Securities LLC   3.00   6/25/08   TBD     5,150,320     5,135,000
Credit Suisse Securities LLC   3.00   6/25/08   TBD     4,458,261     4,445,000
Credit Suisse Securities LLC   3.23611   6/25/08   TBD     2,809,061     2,800,000
Credit Suisse Securities LLC   3.23611   6/25/08   TBD     1,504,854     1,500,000
Credit Suisse Securities LLC   3.23611   6/25/08   TBD     5,337,216     5,320,000
Credit Suisse Securities LLC   3.23718   6/25/08   TBD     2,172,548     2,165,000
Credit Suisse Securities LLC   2.75   7/02/08   TBD     3,594,064     3,585,870
Lehman Brothers Inc.   2.06   7/08/08   TBD     1,931,074     1,928,438
Lehman Brothers Inc.   2.11   7/08/08   TBD     17,172,711     17,148,750
Lehman Brothers Inc.   2.11   7/08/08   TBD     6,072,376     6,063,900
Lehman Brothers Inc.   2.11   7/08/08   TBD     3,515,532     3,510,625
Lehman Brothers International   0.75   7/02/08   TBD     758,855     759,330
Lehman Brothers International   1.00   7/02/08   TBD     1,017,966     1,018,815
Lehman Brothers International   1.50   7/02/08   TBD     2,501,648     2,498,525
Lehman Brothers International   2.75   7/02/08   TBD     4,391,917     4,381,875
Lehman Brothers International   2.75   7/02/08   TBD     2,261,421     2,256,250
Lehman Brothers International   2.75   7/02/08   TBD     316,504     315,780
Lehman Brothers International   3.50   7/02/08   TBD     3,856,215     3,845,000
Lehman Brothers International   3.50   7/02/08   TBD     4,567,669     4,554,385
Lehman Brothers International   3.50   7/02/08   TBD     5,205,137     5,190,000
Lehman Brothers International   0.75%   7/24/08   TBD     1,250,804     1,250,700
Total               $ 88,280,202   $ 88,078,368

(g) Non-income producing security.
(h) Issuer filed for bankruptcy or is in default of interest payments.
(i) Fair value security.
(j) Convertible security.
(k) Represents or includes a "to-be-announced" transaction. The Trust has committed to purchasing securities for which all specific information is not available at this time.
(l) All or a portion of security held as collateral in connection with open financial futures contracts.
(m) Warrants entitle the Trust to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date.

18

BlackRock Limited Duration Income Trust
Schedule of Investments July 31, 2008 (Unaudited)

  • For Trust compliance purposes, the Trust's industry classifications refer to any one or more of the industry sub- classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Trust management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease.

  • Swaps outstanding as of July 31, 2008 were as follows:

 
    Notional   Unrealized  
    Amount    Appreciation  
    (000)   (Depreciation)  
Sold credit default protection LCDX Index receive 5.25%              
Broker, UBS Warburg              
Expires, June 2013   EUR 3,000   $ (86,982 )
Bought credit default protection on LCDX.NA Index and pay 3.25%              
Broker, UBS Warburg              
Expires, June 2013   $ 3,500     35,080  
Total         $ (51,902 )
  • Financial futures contracts purchased as of July 31, 2008 were as follows:
        Expiration  
Face
 
Unrealized
Contracts             Issue             Date            
Value
     
Appreciation
67   5-Year U.S.                      
    Treasury Bond   September 2008   $           7,402,077   $                57,431

  • Forward foreign currency contracts as of July 31, 2008 were as follows:
 
Currency
                Currency   Settlement  
Unrealized
Purchased
     
Sold
            Date            
Appreciation
$            30,303,553   EUR            
19,362,550
  10/23/08   $                238,030
$            15,951,178   GBP  
8,042,900
  10/23/08                    110,329
Total                 $                348,359

  • Currency Abbreviations:
EUR       Euro
GBP   British Pound

19

Item 2 – Controls and Procedures

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

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

Item 3 – Exhibits

Certifications – Attached hereto

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

BlackRock Limited Duration Income Trust

By:      /s/ Donald C. Burke
  Donald C. Burke
  Chief Executive Officer of
  BlackRock Limited Duration Income Trust                   
 
  Date: September 19, 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 Limited Duration Income Trust
 
  Date: September 19, 2008
 
By: /s/ Neal J. Andrews
  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of
  BlackRock Limited Duration Income Trust
 
  Date: September 19, 2008