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 811-10543

Name of Fund:   BlackRock Core Bond Trust (BHK)

Fund Address:   100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service:   Donald C. Burke, Chief Executive Officer, BlackRock Core Bond 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:   11/01/2007 – 01/31/2008


Item 1 – Schedule of Investments

 

BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
    Amount   Asset-Backed Securities*   Value
  USD
2,300,000
  Chase Issuance Trust Series 2007-A17 Class A, 5.12% due      
   
  10/15/2014   $
2,391,661
   
2,800,000
  Chase Manhattan Auto Owner Trust Series 2005-B Class A4,    
   
  4.88% due 6/15/2012    
2,834,880
   
2,825,000
  Citibank Credit Card Issuance Trust Series 2006-A2 Class A2,    
   
  4.85% due 2/10/2011    
2,870,147
   
2,720,000
  Citibank Omni Master Trust Series 2007-A9A Class A9,    
   
  4.211% due 12/23/2013 (a)    
2,722,019
   
1,905,353
  Daimler Chrysler Auto Trust Series 2006-A Class A3, 5% due    
   
  5/08/2010    
1,919,855
   
2,850,000
  Ford Credit Auto Owner Trust Series 2006-A Class A4, 5.07%    
   
  due 12/15/2010    
2,909,688
   
2,157,004
  Harley-Davidson Motorcycle Trust Series 2005-2 Class A2,    
   
  4.07% due 2/15/2012    
2,168,313
   
1,124,077
  Home Equity Asset Trust Series 2007-2 Class 2A1, 3.245% due    
   
  7/25/2037 (a)    
1,090,355
   
2,825,000
  MBNA Credit Card Master Note Trust Series 2006-A1 Class    
   
  A1, 4.90% due 7/15/2011    
2,873,141
   
2,500,000
  Maryland Trust, Series 1 Class A, 5.55% due 12/10/2065    
2,560,000
   
463,819
  SLM Student Loan Trust Series 2005-5 Class A1, 3.331% due    
   
  1/25/2018 (a)    
464,713
   
1,212,618
  Small Business Administration Series 2003-P10B Class 1,    
   
  5.136% due 8/10/2013    
1,235,865
   
689,546
  Small Business Administration Series 2004-P10B Class 1,    
   
  4.754% due 8/10/2014    
694,596
   
8,956,351
  Sterling Bank Trust Series 2004-2 Class Note, 2.081% due    
   
  3/30/2030 (j)    
223,909
   
12,656,225
  Sterling Coofs Trust Series 1, 2.362% due 4/15/2029 (j)    
545,800
   
84,298
  Structured Asset Investment Loan Trust Series 2006-1 Class A1,    
   
  3.456% due 1/25/2036 (a)    
84,121
   
2,725,000
  USAA Auto Owner Trust Series 2006-1 Class A4, 5.04% due    
   
 
   12/15/2011    
2,788,588
   
  Total Asset-Backed Securities    
   
 
   (Cost - $32,672,807) - 8.2%    
30,377,651
   
 
   U.S. Government & Agency Obligations    
 
   
1,026,080
  Federal Housing Administration, Hebre Home Hospital, 6.25%    
   
  due 9/01/2028    
1,046,602
   
525,000
  Resolution Funding Corp., 6.295% due 7/15/2018 (d)    
339,724
   
525,000
  Resolution Funding Corp., 6.30% due 10/15/2018 (d)    
335,155
   
1,655,000
  Tennessee Valley Authority, 5.88% due 4/01/2036    
1,940,157
   
1,620,000
  U.S. Treasury Bonds, 6.625% due 2/15/2027 (l)    
2,095,242
   
4,423,332
  U.S. Treasury Inflation Indexed Bonds, 2.375% due 1/15/2027 (l)    
4,923,032
   
29,600,000
  U.S. Treasury Notes, 3.375% due 11/30/2012    
30,340,000
   
7,180,000
  U.S. Treasury Notes, 4.25% due 11/15/2017    
7,540,120
   
315,000
  U.S. Treasury Notes, 4.75% due 2/15/2037    
335,573
   
2,125,000
  U.S. Treasury Notes, 5% due 5/15/2037    
2,353,603
   
 
   Total U.S. Government & Agency Obligations    
   
 
   (Cost - $50,986,550) - 13.9%    
51,249,208
   
 
   U.S. Government Agency Mortgage-Backed Securities*    
 
   
  Fannie Mae Guaranteed Pass-Through Certificates:    
   
43,504
               4.50% due 2/01/2020    
43,596
   
21,665,732
               5.00% due 11/01/2017 - 2/15/2038 (c)(l)    
21,759,959
   
141,301,691
               5.50% due 1/01/2018 - 2/15/2038 (c)(l)    
143,197,909
   
10,205,042
               6.00% due 8/01/2029 - 2/15/2038 (c)(l)    
10,473,291

1


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
    Amount   U.S. Government Agency Mortgage-Backed Securities*   Value
  USD
100,600,000
               6.50% due 3/15/2038 (c)   $
104,246,750
   
262,916
               7.00% due 1/01/2031 - 7/01/2032    
280,809
   
  Freddie Mac Mortgage Participation Certificates:    
   
73,178
               5.00% due 8/01/2033    
72,978
   
10,435,864
               5.50% due 11/01/2018 - 2/15/2038 (c)(l)    
10,589,106
   
2,378,501
               6.00% due 2/01/2013 - 12/01/2018    
2,459,148
   
59,224
               6.97% due 5/01/2032 (a)    
60,550
   
21,786
               7.00% due 9/01/2031    
23,226
   
  Ginnie Mae MBS Certificates (c):    
   
291,997
               5.50% due 8/15/2033 - 2/15/2038    
297,947
   
200,000
               6.50% due 2/15/2038    
207,813
   
  Total U.S. Government Agency Mortgage-Backed Securities    
 
   
 
   (Cost - $290,871,744) - 79.6%    
293,713,082
   
  U.S. Government Agency Mortgage-Backed Securities* -    
 
   
 
   Collateralized Mortgage Obligations    
 
   
4,196,584
  Fannie Mae Trust Series 378 Class 5, 5% due 7/01/2036 (j)    
850,894
   
1,619,489
  Fannie Mae Trust Series 2003-118 Class FD, 3.535% due    
   
  12/25/2033 (a)    
1,608,281
   
22,940,553
  Fannie Mae Trust Series 2004-90 Class JH, 1.828% due    
   
  11/25/2034 (a)(j)    
1,870,733
   
2,561,425
  Fannie Mae Trust Series 2005-5 Class PK, 5% due 12/25/2034    
2,622,509
   
1,200,000
  Freddie Mac Multiclass Certificates Series 2562 Class PG, 5%    
   
  due 1/15/2018    
1,228,268
   
1,999,201
  Freddie Mac Multiclass Certificates Series 2579 Class HI, 5%    
   
  due 8/15/2017 (j)    
199,860
   
5,583,800
  Freddie Mac Multiclass Certificates Series 2611 Class QI,    
   
  5.50% due 9/15/2032 (j)    
999,294
   
2,170,000
  Freddie Mac Multiclass Certificates Series 2775 Class OE,    
   
  4.50% due 4/15/2019    
2,153,110
   
2,917,180
  Freddie Mac Multiclass Certificates Series 2806 Class VC, 6%    
   
  due 12/15/2019    
3,053,155
   
1,271,442
  Freddie Mac Multiclass Certificates Series 2825 Class VP,    
   
  5.50% due 6/15/2015    
1,324,999
   
1,300,000
  Freddie Mac Multiclass Certificates Series 2883 Class DR, 5%    
   
  due 11/15/2019    
1,313,065
   
1,600,000
  Freddie Mac Multiclass Certificates Series 2968 Class EG, 6%    
 
   
 
   due 10/15/2034    
1,655,130
   
 
   Total U.S. Government Agency Mortgage-Backed Securities -    
 
   
 
   Collateralized Mortgage Obligations    
 
   
 
   (Cost - $18,816,395) - 5.1%    
18,879,298
   
 
   Non-U.S. Government Agency Mortgage-Backed
Securities* 		   
 
Collateralized Mortgage  
744,849
  Citigroup Mortgage Loan Trust, Inc. Series 2005-4 Class A,    
 
Obligations - 1.8%  
 
   5.344% due 8/25/2035 (a)    
738,598
   
1,600,000
  Countrywide Alternative Loan Trust Series 2005-64CB Class    
 
   
  1A15, 5.50% due 12/25/2035    
1,498,742
   
751,539
  GSR Mortgage Loan Trust Series 2005-AR4 Class 6A1, 5.25%    
   
  due 7/25/2035 (a)    
743,722
   
2,238,303
  Structured Asset Securities Corp. Series 2002-AL1 Class A2,    
   
  3.45% due 2/25/2032    
2,015,721
   
1,800,000
  WaMu Mortgage Pass-Through Certificates Series 2005-AR10    
   
  Class 1A3, 4.835% due 9/25/2035 (a)    
1,794,700
   
 
        
6,791,483
Commercial Mortgage-  
2,180,000
  Banc of America Commercial Mortgage, Inc. Series 2005-1    
Backed Securities - 14.7%       Class 4A, 4.885% due 11/10/2042 (a)    
2,165,189

2


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
    Amount   Non-U.S. Government Agency Mortgage-Backed Securities*   Value
  USD
2,720,000
  CS First Boston Mortgage Securities Corp. Series 2002-CP5      
   
  Class A2, 4.94% due 12/15/2035   $
2,691,247
   
2,755,000
  CW Capital Cobalt Ltd. Series 2007-C3 Class A4, 5.82% due    
   
  5/15/2046 (a)    
2,791,228
   
2,500,000
  Citigroup/Deutsche Bank Commercial Mortgage Trust Series    
   
  2007-CD5 Class A4, 5.886% due 11/15/2044 (a)    
2,553,400
   
2,170,000
  Credit Suisse Mortgage Capital Certificates Series 2007-C2    
   
  Class A3, 5.542% due 1/15/2049 (a)    
2,148,654
   
3,026,121
  First Union National Bank Commercial Mortgage Series 2001-    
   
  C3 Class A3, 6.423% due 8/15/2033    
3,139,197
   
2,265,000
  First Union National Bank Commercial Mortgage Series 2001-    
   
  C4 Class A2, 6.223% due 12/12/2033    
2,351,104
   
1,428,059
  GMAC Commercial Mortgage Securities, Inc. Series 1999-C3    
   
  Class A2, 7.179% due 8/15/2036 (a)    
1,470,790
   
2,350,000
  GMAC Commercial Mortgage Securities, Inc. Series 2002-C3    
   
  Class A2, 4.93% due 7/10/2039    
2,330,038
   
1,749,447
  GS Mortgage Securities Corp. II Series 1998-C1 Class A3,    
   
  6.135% due 10/18/2030    
1,752,622
   
2,740,000
  GS Mortgage Securities Corp. II Series 2007-GG10 Class A4,    
   
  5.993% due 8/10/2045 (a)    
2,774,476
   
1,399,037
  Heller Financial Commercial Mortgage Asset Series 1999-PH1    
   
  Class A2, 6.847% due 5/15/2031 (a)    
1,416,426
   
2,140,000
  JPMorgan Chase Commercial Mortgage Securities Corp. Series    
   
  2001-C1 Class A3, 5.857% due 10/12/2035    
2,196,953
   
2,180,000
  JPMorgan Chase Commercial Mortgage Securities Corp. Series    
   
  2004-CBX Class A4, 4.529% due 1/12/2037    
2,145,521
   
960,000
  JPMorgan Chase Commercial Mortgage Securities Corp. Series    
   
  2006-LDP9 Class A3, 5.336% due 5/15/2047    
937,885
   
1,643,387
  JPMorgan Commercial Mortgage Finance Corp. Series 2000-    
   
  C10 Class A2, 7.371% due 8/15/2032 (a)    
1,711,435
   
2,275,000
  LB-UBS Commercial Mortgage Trust Series 2007-C6 Class A4,    
   
  5.858% due 7/15/2040 (a)    
2,301,209
   
5,000,000
  LB-UBS Commercial Mortgage Trust Series 2007-C7 Class A3,    
   
  5.866% due 9/15/2045 (a)    
5,019,500
   
925,000
  Merrill Lynch Mortgage Trust Series 2007-C1 Class AM,    
   
  6.022% due 6/12/2050 (a)(m)    
890,517
   
1,754,114
  Morgan Stanley Capital I Series 1998-HF2 Class A2, 6.48% due    
   
  11/15/2030 (a)    
1,757,242
   
1,475,000
  Morgan Stanley Capital I Series 2005-HQ6 Class A4A, 4.989%    
   
  due 8/13/2042    
1,452,785
   
1,235,000
  Morgan Stanley Capital I Series 2007-IQ16 Class A4, 5.809%    
   
  due 12/12/2049    
1,242,285
   
995,000
  Morgan Stanley Capital I Series 2007-T27 Class A4, 5.804%    
   
  due 6/13/2042 (a)    
998,971
   
3,465,472
  Salomon Brothers Mortgage Securities VII, Inc. Series 2000-C1    
   
  Class A2, 7.52% due 12/18/2009 (a)    
3,597,400
   
1,190,000
  Wachovia Bank Commercial Mortgage Trust Series 2006-C25    
   
  Class A4, 5.954% due 5/15/2043 (a)    
1,207,843
   
995,000
  Wachovia Bank Commercial Mortgage Trust Series 2007-C33    
        Class A4, 5.903% due 2/15/2051 (a)    
1,017,004
             
54,060,921
        Total Non-U.S. Government Agency Mortgage-Backed    
        Securities (Cost - $61,655,967) - 16.5%    
60,852,404

3


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
Industry
  Amount   Corporate Bonds   Value
Aerospace & Defense - 1.1%
USD
405,000
  CHC Helicopter Corp., 7.375% due 5/01/2014   $
373,612
   
70,000
  DRS Technologies, Inc., 6.875% due 11/01/2013    
68,600
   
80,000
  DRS Technologies, Inc., 7.625% due 2/01/2018    
79,000
   
140,000
  Hexcel Corp., 6.75% due 2/01/2015    
135,100
   
975,000
  Honeywell International, Inc., 5.70% due 3/15/2037    
947,961
   
960,000
  Northrop-Grumman Corporation, 7.875% due 3/01/2026    
1,164,606
   
120,000
  TransDigm, Inc., 7.75% due 7/15/2014    
120,600
   
1,125,000
  United Technologies Corp., 4.875% due 5/01/2015    
1,134,674
   
 
        
4,024,153
Air Freight & Logistics - 0.7%
 
120,000
  Park-Ohio Industries, Inc., 8.375% due 11/15/2014    
97,500
   
2,500,000
  United Parcel Service, Inc., 6.20% due 1/15/2038    
2,622,855
   
 
        
2,720,355
Airlines - 0.0%
 
115,000
  American Airlines, Inc. Series 99-1, 7.324% due 4/15/2011    
112,700
Auto Components - 0.1%
 
360,000
  Lear Corp., 8.75% due 12/01/2016    
320,400
   
250,000
  Metaldyne Corp., 10% due 11/01/2013    
180,000
   
 
        
500,400
Automobiles - 0.1%
 
600,000
  Ford Capital BV, 9.50% due 6/01/2010    
552,000
Biotechnology - 0.3%
 
1,205,000
  Amgen, Inc., 5.133% due 11/28/2008 (a)(b)    
1,204,590
Building Products - 0.3%
 
200,000
  CPG International I, Inc., 10.50% due 7/01/2013    
178,000
   
390,000
  Goodman Global Holding Co., Inc., 7.875% due 12/15/2012    
421,824
   
405,000
  Momentive Performance Materials, Inc., 11.50% due 12/01/2016    
316,406
   
40,000
  Momentive Performance Materials, Inc. Series WI, 9.75% due    
   
  12/01/2014    
36,200
   
 
        
952,430
Capital Markets - 5.6%
 
1,270,000
  The Bear Stearns Cos., Inc., 6.95% due 8/10/2012    
1,314,392
   
1,550,000
  Credit Suisse Guernsey Ltd., 5.86% (a)(h)    
1,422,330
   
4,885,000
  The Goldman Sachs Group, Inc., 5.45% due 11/01/2012 (l)    
5,111,859
   
1,415,000
  The Goldman Sachs Group, Inc., 5.35% due 1/15/2016    
1,430,029
   
135,000
  The Goldman Sachs Group, Inc., 6.25% due 9/01/2017    
143,145
   
525,000
  Lehman Brothers Holdings, Inc., 6.691% due 9/15/2022 (a)    
504,498
   
1,250,000
  Lehman Brothers Holdings, Inc. Series MTN, 7% due 9/27/2027    
1,266,900
   
3,300,000
  Morgan Stanley, 4.793% due 1/09/2012 (a)(l)    
3,174,418
   
1,700,000
  Morgan Stanley, 6.25% due 8/28/2017    
1,765,370
   
525,000
  Morgan Stanley, 6.25% due 8/09/2026    
518,638
   
1,375,000
  Morgan Stanley Series F, 5.55% due 4/27/2017    
1,369,833
   
2,575,000
  UBS AG Series DPNT, 5.875% due 12/20/2017 (l)    
2,703,220
   
 
        
20,724,632
Chemicals - 0.9%
 
250,000
  American Pacific Corp., 9% due 2/01/2015    
246,250
   
650,000
  Ames True Temper, Inc., 8.258% due 1/15/2012 (a)    
526,500
   
30,000
  Chemtura Corp., 6.875% due 6/01/2016    
27,300
   
66,000
  Huntsman LLC, 11.50% due 7/15/2012    
69,960
  EUR
285,000
  Ineos Group Holdings Plc, 7.875% due 2/15/2016 (b)    
302,953
  USD
870,000
  Ineos Group Holdings Plc, 8.50% due 2/15/2016 (b)    
678,600
   
885,000
  Innophos, Inc., 8.875% due 8/15/2014    
869,513
   
515,000
  Key Plastics LLC, 11.75% due 3/15/2013 (b)    
386,250
   
80,000
  Terra Capital, Inc. Series B, 7% due 2/01/2017    
78,600
   
 
        
3,185,926
Commercial Banks - 6.5%
 
1,975,000
  Barclays Bank Plc, 7.434% (a)(b)(h)    
2,065,781
   
915,000
  Credit Agricole SA, 6.637% (a)(b)(h)    
832,170
   
3,775,000
  Depfa ACS Bank, 5.125% due 3/16/2037 (b)    
3,687,163
   
425,000
  Fleet National Bank, 6.375% due 3/25/2008    
426,285
   
975,000
  Fleet National Bank, 6.375% due 4/15/2008    
979,138
   
825,000
  HBOS Treasury Services Plc, 3.75% due 9/30/2008 (b)    
828,398
   
775,000
  HSBC Bank USA NA, 5.875% due 11/01/2034    
723,365
   
300,000
  HSBC Finance Corp., 6.50% due 5/02/2036    
295,010

4


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
Industry   Amount   Corporate Bonds   Value
  USD
2,200,000
  Royal Bank of Scotland Plc Series MTN, 7.64% (a)(h)(l)   $
2,253,258
   
1,000,000
  Societe Generale, 5.922% (a)(b)(h)    
922,482
   
1,265,000
  Suntrust Bank Series CD, 4.415% due 6/15/2009    
1,269,686
   
995,000
  Suntrust Banks, Inc., 4% due 10/15/2008    
996,084
   
2,790,000
  U.S. First Bank NA, 6.50% due 2/01/2008 (l)    
2,790,000
   
1,925,000
  Wachovia Bank NA, 6.60% due 1/15/2038    
1,912,081
   
1,031,000
  Wells Fargo & Co., 3.12% due 8/15/2008    
1,026,428
   
355,000
  Wells Fargo & Co., 4.20% due 1/15/2010    
358,450
   
1,665,000
  Wells Fargo & Co., 4.625% due 8/09/2010    
1,696,435
   
435,000
  Wells Fargo & Co., 4.875% due 1/12/2011    
442,918
   
540,000
  Wells Fargo Bank NA, 5.95% due 8/26/2036    
529,700
   
 
        
24,034,832
Commercial Services & Supplies -
 
1,195,000
  DI Finance Series B, 9.50% due 2/15/2013    
1,245,788
0.9%
 
100,000
  FTI Consulting, Inc., 7.75% due 10/01/2016    
103,500
 
281,000
  Sally Holdings LLC, 10.50% due 11/15/2016    
249,388
 
590,000
  Waste Services, Inc., 9.50% due 4/15/2014    
548,700
 
1,100,000
  West Corp., 11% due 10/15/2016    
1,001,000
 
  
 
        
3,148,376
Communications Equipment - 0.3%
 
1,120,000
  Nortel Networks Ltd., 8.508% due 7/15/2011 (a)    
1,041,600
Computers & Peripherals - 0.9%
 
3,125,000
  International Business Machines Corp., 5.70% due 9/14/2017 (l)    
3,282,803
Consumer Finance - 0.1%
 
550,000
  SLM Corp. Series A, 3.631% due 1/27/2014 (a)    
447,740
Containers & Packaging - 0.8%
 
180,000
  Berry Plastics Holding Corp., 8.866% due 9/15/2014 (a)    
147,600
 
270,000
  Berry Plastics Holding Corp., 8.875% due 9/15/2014    
239,625
 
150,000
  Crown Americas LLC, 7.75% due 11/15/2015    
152,625
 
75,000
  Graham Packaging Co. LP, 8.50% due 10/15/2012    
66,000
 
300,000
  Impress Holdings BV, 7.383% due 9/15/2013 (a)(b)    
276,000
 
1,500,000
  Owens-Brockway Glass Container, Inc., 8.25% due 5/15/2013    
1,552,500
 
545,000
  Pregis Corp., 12.375% due 10/15/2013    
547,725
 
  
 
        
2,982,075
Diversified Financial Services -
 
2,575,000
  Bank of America Corp., 6% due 9/01/2017 (l)    
2,680,992
10.3%
 
3,125,000
  Bank of America Corp., 5.75% due 12/01/2017 (l)    
3,215,250
 
1,360,000
  Bank of America Corp. Series K, 8% (a)(h)    
1,412,700
   
1,975,000
  Bank of America NA, 6.10% due 6/15/2017 (l)    
2,044,271
   
3,950,000
  Citigroup, Inc., 3.625% due 2/09/2009 (k)    
3,951,157
   
1,020,000
  Citigroup, Inc., 4.25% due 7/29/2009    
1,027,617
   
4,790,000
  Citigroup, Inc., 4.125% due 2/22/2010 (k)    
4,804,380
   
425,000
  Citigroup, Inc., 5.875% due 2/22/2033    
394,325
   
580,000
  Citigroup, Inc., 5.875% due 5/29/2037    
546,424
   
2,225,000
  Citigroup, Inc., 8.30% due 12/21/2077 (a)    
2,398,650
   
525,000
  Citigroup, Inc., 6.875% due 2/15/2098    
521,578
   
125,000
  Ford Motor Credit Co. LLC, 7.127% due 1/13/2012 (a)    
105,293
   
340,000
  Ford Motor Credit Co. LLC, 7.80% due 6/01/2012    
301,147
   
6,855,000
  General Electric Capital Corp., 6.15% due 8/07/2037 (l)    
6,939,282
   
2,025,000
  JPMorgan Chase & Co., 6% due 1/15/2018 (l)    
2,101,549
   
3,950,000
  JPMorgan Chase Capital XXV, 6.80% due 10/01/2037 (l)    
3,733,066
   
1,986,169
  Structured Asset Repackaged Trust, 5.806% due 1/21/2010    
1,966,308
   
 
        
38,143,989
Diversified Telecommunication
 
780,000
  AT&T, Inc., 6.45% due 6/15/2034    
783,668
Services - 5.3%
 
2,875,000
  AT&T, Inc., 6.50% due 9/01/2037 (l)    
2,931,264
   
600,000
  AT&T, Inc., 6.30% due 1/15/2038    
595,814
   
1,700,000
  Bellsouth Telecommunications, Inc., 6.402% due 12/15/2095 (d)    
871,988
   
210,000
  Cincinnati Bell, Inc., 7.25% due 7/15/2013    
210,000
   
10,000
  Comcast Cable Holdings LLC, 7.875% due 8/01/2013    
11,060
   
3,000,000
  Deutsche Telekom International Finance BV, 5.75%    
        due 3/23/2016 (l)    
3,051,177

5

BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
Industry   Amount   Corporate Bonds   Value
  USD
180,000
  Qwest Communications International, Inc., 7.50% due 2/15/2014   $
178,200
   
470,000
  Qwest Corp., 8.241% due 6/15/2013 (a)    
458,250
   
1,075,000
  Telecom Italia Capital SA, 4.95% due 9/30/2014    
1,044,331
   
1,550,000
  Telecom Italia Capital SA, 6% due 9/30/2034    
1,451,916
   
1,975,000
  Telefonica Emisiones SAU, 7.045% due 6/20/2036    
2,181,638
   
725,000
  Telefonica Europe BV, 7.75% due 9/15/2010    
783,927
   
70,000
  Verizon Global Funding Corp., 7.75% due 12/01/2030    
81,699
   
125,000
  Verizon Maryland, Inc. Series B, 5.125% due 6/15/2033    
106,484
   
335,000
  Verizon New Jersey, Inc., 5.875% due 1/17/2012    
347,723
   
230,000
  Verizon New Jersey, Inc., 7.85% due 11/15/2029    
261,424
   
3,150,000
  Verizon Virginia, Inc. Series A, 4.625% due 3/15/2013 (l)    
3,082,291
   
350,000
  Wind Acquisition Finance SA, 10.75% due 12/01/2015 (b)    
371,000
   
500,000
  Windstream Corp., 8.125% due 8/01/2013    
512,500
   
230,000
  Windstream Corp., 8.625% due 8/01/2016    
238,050
   
 
        
19,554,404
Electric Utilities - 4.0%  
500,000
  The Cleveland Electric Illuminating Co., 5.95% due 12/15/2036    
458,148
   
375,000
  Consolidated Edison Co. of New York, Inc., 6.20% due    
   
  6/15/2036    
374,865
   
725,000
  DTE Energy Co., 6.35% due 6/01/2016    
754,059
   
315,000
  Duke Energy Carolinas LLC, 6.10% due 6/01/2037    
317,463
   
825,000
  Duke Energy Carolinas LLC, 6% due 1/15/2038    
833,938
   
1,125,000
  EDP Finance BV, 6% due 2/02/2018 (b)    
1,153,362
   
115,000
  Edison Mission Energy, 7.50% due 6/15/2013    
117,587
   
118,147
  Elwood Energy LLC, 8.159% due 7/05/2026 (i)    
116,629
   
1,500,000
  Energy East Corp., 6.75% due 7/15/2036    
1,518,582
   
950,000
  Florida Power & Light Co., 4.95% due 6/01/2035    
836,121
   
75,132
  Midwest Generation LLC Series B, 8.56% due 1/02/2016 (i)    
80,861
   
1,000,000
  Ohio Edison Co., 6.875% due 7/15/2036    
1,034,778
   
575,000
  Pacificorp., 6.25% due 10/15/2037    
594,592
   
1,325,000
  Progress Energy Florida, Inc., 6.35% due 9/15/2037    
1,397,892
   
1,200,000
  Public Service Co. of Colorado, 6.25% due 9/01/2037    
1,245,990
   
625,000
  Southern California Edison Co., 5.625% due 2/01/2036    
597,308
   
125,000
  Southern California Edison Co. Series 05-E, 5.35% due    
   
  7/15/2035    
114,880
   
1,075,000
  Southern California Edison Co. Series 08-A, 5.95% due    
   
  2/01/2038    
1,074,690
   
2,000,000
  Virginia Electric and Power Co. Series A, 6% due 5/15/2037    
1,980,178
   
 
        
14,601,923
Electrical Equipment - 0.2%  
945,000
  Superior Essex Communications LLC, 9% due 4/15/2012    
888,300
Electronic Equipment &  
130,000
  Sanmina-SCI Corp., 6.75% due 3/01/2013    
112,450
Instruments - 0.3%  
1,060,000
  Sanmina-SCI Corp., 8.125% due 3/01/2016    
924,850
   
 
        
1,037,300
Energy Equipment & Services -  
55,000
  Compagnie Generale de Geophysique-Veritas, 7.50% due    
0.6%  
  5/15/2015    
54,175
   
90,000
  Compagnie Generale de Geophysique-Veritas, 7.75% due    
   
  5/15/2017    
89,100
   
80,000
  Grant Prideco, Inc. Series B, 6.125% due 8/15/2015    
81,800
   
85,000
  North American Energy Partners, Inc., 8.75% due 12/01/2011    
82,875
   
315,000
  SemGroup LP, 8.75% due 11/15/2015 (b)    
294,525
   
1,100,000
  Transocean, Inc., 6.80% due 3/15/2038    
1,144,461
   
625,000
  Weatherford International, Inc., 6.80% due 6/15/2037    
647,693
   
 
        
2,394,629
Food & Staples Retailing - 1.2%  
775,000
  CVS Caremark Corp., 6.25% due 6/01/2027    
772,333
   
1,000,000
  The Pantry, Inc., 7.75% due 2/15/2014    
897,500

6


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
Industry   Amount   Corporate Bonds   Value
  USD
775,000
  Rite Aid Corp., 7.50% due 3/01/2017   $
664,563
   
1,900,000
  Wal-Mart Stores, Inc., 6.50% due 8/15/2037    
1,992,678
   
 
        
4,327,074
Food Products - 0.4%
 
1,455,000
  Kraft Foods, Inc., 7% due 8/11/2037    
1,501,268
Gas Utilities - 0.2%
 
265,000
  El Paso Natural Gas Co., 8.625% due 1/15/2022    
304,162
 
225,000
  El Paso Natural Gas Co., 8.375% due 6/15/2032    
262,308
 
320,000
  Targa Resources, Inc., 8.50% due 11/01/2013    
301,600
 
  
 
        
868,070
Health Care Equipment &
 
1,380,000
  ReAble Therapeutics Finance LLC, 10.875% due 11/15/2014 (b)    
1,311,000
Supplies - 0.4%
 
 
        
 
Health Care Providers & Services -
 
1,020,000
  Tenet Healthcare Corp., 6.50% due 6/01/2012    
895,050
0.5%
 
870,000
  UnitedHealth Group, Inc., 5.80% due 3/15/2036    
778,424
 
85,000
  WellPoint, Inc., 5.95% due 12/15/2034    
78,584
 
  
 
        
1,752,058
Hotels, Restaurants & Leisure -
 
3,165,000
  American Real Estate Partners LP, 8.125% due 6/01/2012    
3,101,700
1.6%
 
320,000
  American Real Estate Partners LP, 7.125% due 2/15/2013    
296,800
 
1,000,000
  Circus and Eldorado Joint Venture, 10.125% due 3/01/2012    
1,030,000
 
150,000
  Gaylord Entertainment Co., 6.75% due 11/15/2014    
129,000
 
335,000
  Greektown Holdings, LLC, 10.75% due 12/01/2013 (b)    
319,925
 
880,000
  Harrah's Operating Co., Inc., 10.75% due 2/01/2018 (b)(e)    
748,000
 
260,000
  Seneca Gaming Corp. Series B, 7.25% due 5/01/2012    
252,200
 
50,000
  Universal City Florida Holding Co. I, 7.989% due 5/01/2010 (a)    
48,250
 
40,000
  Wynn Las Vegas LLC, 6.625% due 12/01/2014    
38,550
 
  
 
        
5,964,425
Household Durables - 0.6%
 
350,000
  Belvoir Land LLC Series A-1, 5.27% due 12/15/2047 (i)    
289,499
 
525,000
  Irwin Land LLC Series A-1, 5.03% due 12/15/2025 (i)    
469,497
 
1,500,000
  Irwin Land LLC Series A-2, 5.40% due 12/15/2047 (i)    
1,267,365
 
350,000
  Ohana Military Communities LLC Series 04I, 6.193% due    
 
  4/01/2049 (i)    
333,137
 
  
 
        
2,359,498
Household Products - 0.3%
 
850,000
  Kimberly-Clark, Corp., 6.625% due 8/01/2037    
926,794
IT Services - 0.4%
 
240,000
  iPayment, Inc., 9.75% due 5/15/2014    
222,000
 
849,743
  iPayment Investors LP, 12.75% due 7/15/2014 (b)(e)    
830,875
 
205,000
  SunGard Data Systems, Inc., 9.125% due 8/15/2013    
208,075
 
133,000
  SunGard Data Systems, Inc., 10.25% due 8/15/2015    
133,000
 
  
 
        
1,393,950
Independent Power Producers &
 
50,000
  NRG Energy, Inc., 7.25% due 2/01/2014    
48,687
Energy Traders - 0.1%
 
285,000
  NRG Energy, Inc., 7.375% due 2/01/2016    
275,381
 
130,000
  Orion Power Holdings, Inc., 12% due 5/01/2010    
141,375
 
  
 
        
465,443
Industrial Conglomerates - 0.4%
 
1,575,000
  3M Co., 5.70% due 3/15/2037    
1,608,812
Insurance - 4.0%
 
1,950,000
  The Allstate Corp., 6.50% due 5/15/2057 (a)    
1,777,008
   
1,075,000
  Berkshire Hathaway Finance Corp., 4.75% due 5/15/2012    
1,115,946
   
1,100,000
  Chubb Corp., 6% due 5/11/2037    
1,040,613
   
925,000
  Hartford Life Global Funding Trusts, 5.161% due 9/15/2009 (a)    
925,253
   
675,000
  Lincoln National Corp., 6.05% due 4/20/2067 (a)    
630,362
   
1,525,000
  MetLife, Inc., 5.70% due 6/15/2035    
1,396,777
   
1,150,000
  Metropolitan Life Global Funding I, 4.25% due 7/30/2009 (b)    
1,165,856
   
1,810,000
  Monument Global Funding Ltd., 3.299% due 6/16/2010 (a)    
1,776,515
   
850,000
  New York Life Global Funding, 3.875% due 1/15/2009 (b)    
855,125
   
605,000
  Progressive Corp., 6.70% due 6/15/2037 (a)    
575,276
   
675,000
  Prudential Financial, Inc., 5.70% due 12/14/2036    
612,277
   
500,000
  Prudential Financial, Inc. Series D, 5.90% due 3/17/2036    
466,927
   
1,000,000
  Prudential Funding LLC, 6.60% due 5/15/2008 (b)    
1,006,897

7


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
Industry   Amount   Corporate Bonds   Value
  USD
675,000
  The Travelers Cos., Inc., 6.25% due 3/15/2067 (a)   $
641,864
   
675,000
  ZFS Finance (USA) Trust V, 6.50% due 5/09/2067 (a)(b)    
616,289
   
 
        
14,602,985
Leisure Equipment & Products -  
175,000
  Quiksilver, Inc., 6.875% due 4/15/2015    
135,625
0.0%  
 
        
 
Machinery - 0.6%  
360,000
  AGY Holding Corp., 11% due 11/15/2014 (b)    
338,400
   
265,000
  Accuride Corp., 8.50% due 2/01/2015    
209,350
   
480,000
  RBS Global, Inc., 9.50% due 8/01/2014    
433,200
   
505,000
  RBS Global, Inc., 11.75% due 8/01/2016    
429,250
   
950,000
  Sunstate Equipment Co. LLC, 10.50% due 4/01/2013 (b)    
779,000
   
 
        
2,189,200
Marine - 0.3%  
1,050,000
  Nakilat, Inc. Series A, 6.067% due 12/31/2033 (b)(i)    
981,319
   
252,000
  Navios Maritime Holdings, Inc., 9.50% due 12/15/2014    
241,920
   
 
        
1,223,239
Media - 6.5%  
515,000
  Affinion Group, Inc., 10.125% due 10/15/2013    
509,850
   
180,000
  Affinion Group, Inc., 11.50% due 10/15/2015    
166,500
   
100,000
  American Media Operations, Inc. Series B, 10.25% due    
   
  5/01/2009    
74,500
   
645,000
  CMP Susquehanna Corp., 9.875% due 5/15/2014    
445,050
   
180,000
  Cablevision Systems Corp. Series B, 9.644% due 4/01/2009 (a)    
180,000
   
940,000
  Charter Communications Holdings I, LLC, 11% due 10/01/2015    
673,275
   
1,250,000
  Charter Communications Holdings II, LLC, 10.25% due    
   
  9/15/2010    
1,183,725
   
200,000
  Comcast Cable Holdings LLC, 7.125% due 2/15/2028    
202,019
   
1,750,000
  Comcast Corp., 6.50% due 1/15/2017    
1,828,766
   
625,000
  Comcast Corp., 6.50% due 11/15/2035    
606,801
   
790,000
  Comcast Corp., 6.45% due 3/15/2037    
765,563
   
25,000
  Comcast Corp., 6.95% due 8/15/2037    
25,694
   
75,000
  Dex Media West LLC, 9.875% due 8/15/2013    
76,500
   
125,000
  DIRECTV Holdings LLC, 8.375% due 3/15/2013    
129,219
   
175,000
  Echostar DBS Corp., 5.75% due 10/01/2008    
175,000
   
290,000
  Echostar DBS Corp., 7% due 10/01/2013    
290,725
   
75,000
  Echostar DBS Corp., 7.125% due 2/01/2016    
74,906
   
70,000
  Historic TW, Inc., 6.95% due 1/15/2028    
70,056
   
620,000
  Idearc, Inc., 8% due 11/15/2016    
554,900
   
870,000
  Intelsat Bermuda Ltd., 10.829% due 6/15/2013 (a)    
889,575
   
80,000
  Intelsat Bermuda Ltd., 7.581% due 1/15/2015 (a)    
80,000
   
500,000
  Intelsat Bermuda Ltd., 9.25% due 6/15/2016    
498,750
   
475,000
  Intelsat Corp., 9% due 6/15/2016    
471,438
   
270,000
  Intelsat Subsidiary Holding Co. Ltd., 8.625% due 1/15/2015    
268,988
   
155,000
  Network Communications, Inc., 10.75% due 12/01/2013    
142,987
   
825,000
  News America Holdings, Inc., 7.70% due 10/30/2025    
912,235
   
625,000
  News America Holdings, Inc., 8.45% due 8/01/2034    
759,746
   
985,000
  News America, Inc., 7.625% due 11/30/2028    
1,072,758
   
965,000
  Nielsen Finance LLC, 10% due 8/01/2014    
974,650
   
82,000
  PanAmSat Corp., 9% due 8/15/2014    
81,385
   
600,000
  Paxson Communications Corp., 7.508% due 1/15/2012 (a)(b)    
540,000
   
865,000
  R.H. Donnelley Corp. Series A-3, 8.875% due 1/15/2016    
741,737
   
200,000
  Rainbow National Services LLC, 8.75% due 9/01/2012 (b)    
202,250
   
943,000
  Rainbow National Services LLC, 10.375% due 9/01/2014 (b)    
1,001,937
   
70,000
  Sirius Satellite Radio, Inc., 9.625% due 8/01/2013    
59,850
   
610,000
  TCI Communications, Inc., 7.875% due 2/15/2026    
666,812
   
1,000,000
  TL Acquisitions, Inc., 10.50% due 1/15/2015 (b)    
910,000
   
3,040,000
  Time Warner Cos., Inc., 7.57% due 2/01/2024 (l)    
3,228,675
   
90,000
  Time Warner Cos., Inc., 6.625% due 5/15/2029    
87,034

8


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
Industry   Amount   Corporate Bonds   Value
  USD
205,000
  Time Warner, Inc., 7.625% due 4/15/2031   $
221,493
   
85,000
  Time Warner, Inc., 7.70% due 5/01/2032    
92,387
   
645,000
  Vertis, Inc., 9.75% due 4/01/2009    
551,475
   
823,000
  Windstream Regatta Holdings, Inc., 11% due 12/01/2017 (b)    
748,930
   
1,205,000
  Young Broadcasting, Inc., 10% due 3/01/2011    
897,725
   
 
        
24,135,866
Metals & Mining - 2.0%  
995,000
  AK Steel Corp., 7.75% due 6/15/2012    
990,025
   
825,000
  Falconbridge Ltd., 6% due 10/15/2015    
834,225
   
1,250,000
  Falconbridge Ltd., 6.20% due 6/15/2035    
1,109,164
   
535,000
  Freeport-McMoRan Copper & Gold, Inc., 8.394% due    
   
  4/01/2015 (a)    
524,969
   
815,000
  Freeport-McMoRan Copper & Gold, Inc., 8.375% due    
   
  4/01/2017    
865,937
   
1,430,000
  Teck Cominco Ltd., 6.125% due 10/01/2035    
1,285,428
   
1,775,000
  Xstrata Finance Canada Ltd., 5.80% due 11/15/2016 (b)    
1,694,268
   
 
        
7,304,016
Multiline Retail - 0.2%  
695,000
  Macy's Retail Holding, Inc., 5.90% due 12/01/2016    
647,821
Oil, Gas & Consumable Fuels -  
425,000
  Amerada Hess Corp., 7.125% due 3/15/2033    
473,515
5.2%  
2,350,000
  Anadarko Petroleum Corp., 6.45% due 9/15/2036    
2,396,262
   
140,000
  Berry Petroleum Co., 8.25% due 11/01/2016    
142,100
   
875,000
  Burlington Resources Finance Co., 7.40% due 12/01/2031    
1,039,146
   
375,000
  Canadian Natural Resources, Ltd., 6.25% due 3/15/2038    
356,395
   
1,025,000
  Canadian Natural Resources, Ltd., 6.75% due 2/01/2039    
1,043,531
   
320,000
  Chaparral Energy, Inc., 8.50% due 12/01/2015    
267,200
   
150,000
  Chesapeake Energy Corp., 6.375% due 6/15/2015    
145,500
   
20,000
  Chesapeake Energy Corp., 6.875% due 11/15/2020    
19,300
   
115,000
  Compton Petroleum Finance Corp., 7.625% due 12/01/2013    
106,375
   
125,000
  Conoco Funding Co., 7.25% due 10/15/2031    
147,089
   
535,000
  ConocoPhillips Canada Funding Co., 5.95% due 10/15/2036    
546,100
   
650,000
  ConocoPhillips Holding Co., 6.95% due 4/15/2029    
743,909
   
325,000
  Devon Energy Corp., 7.95% due 4/15/2032    
398,107
   
130,000
  EXCO Resources, Inc., 7.25% due 1/15/2011    
124,150
   
670,000
  EnCana Corp., 6.50% due 8/15/2034    
686,974
   
700,000
  EnCana Corp., 6.625% due 8/15/2037    
729,152
   
325,000
  EnCana Corp., 6.50% due 2/01/2038    
335,405
   
40,000
  Encore Acquisition Co., 6% due 7/15/2015    
36,100
   
60,000
  Encore Acquisition Co., 7.25% due 12/01/2017    
57,750
   
210,000
  KCS Energy, Inc., 7.125% due 4/01/2012    
199,500
   
700,000
  Midamerican Energy Holdings Co., 5.80% due 10/15/2036    
680,687
   
800,000
  Midamerican Energy Holdings Co., 5.95% due 5/15/2037    
771,797
   
1,525,000
  Midamerican Energy Holdings Co., 6.50% due 9/15/2037    
1,575,587
   
550,000
  Nexen, Inc., 6.40% due 5/15/2037    
532,160
   
450,000
  OPTI Canada, Inc., 8.25% due 12/15/2014 (b)    
441,000
   
833,000
  Pemex Project Funding Master Trust, 9.375% due 12/02/2008    
870,485
   
330,000
  Sabine Pass LNG LP, 7.50% due 11/30/2016    
309,375
   
645,000
  Suncor Energy, Inc., 6.50% due 6/15/2038    
657,712
   
550,000
  TransCanada PipeLines Ltd., 5.85% due 3/15/2036    
520,165
   
495,000
  Valero Energy Corp., 6.625% due 6/15/2037    
488,953
   
40,000
  Whiting Petroleum Corp., 7.25% due 5/01/2012    
39,600
   
335,000
  Whiting Petroleum Corp., 7.25% due 5/01/2013    
329,975
   
1,925,000
  XTO Energy, Inc., 6.75% due 8/01/2037    
2,053,898
   
 
        
19,264,954
Paper & Forest Products - 0.6%  
430,000
  Abitibi-Consolidated, Inc., 6% due 6/20/2013    
292,400
   
80,000
  Bowater, Inc., 7.991% due 3/15/2010 (a)    
63,200

9



BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Face          
Industry   Amount   Corporate Bonds   Value
  USD
60,000
  Domtar Corp., 7.125% due 8/15/2015  
$
57,750
   
1,625,000
  NewPage Corp., 10% due 5/01/2012    
1,616,875
   
 
        
2,030,225
Pharmaceuticals - 2.0%  
340,000
  Bristol-Myers Squibb Co., 5.875% due 11/15/2036    
329,647
   
2,275,000
  Eli Lilly & Co., 5.55% due 3/15/2037 (l)    
2,179,584
   
1,125,000
  Johnson & Johnson, 5.95% due 8/15/2037    
1,219,312
   
1,125,000
  Schering-Plough Corp., 6.55% due 9/15/2037    
1,134,916
   
995,000
  Teva Pharmaceutical Finance LLC, 6.15% due 2/01/2036    
989,466
   
675,000
  Wyeth, 6% due 2/15/2036    
667,760
   
925,000
  Wyeth, 5.95% due 4/01/2037    
912,313
   
 
        
7,432,998
Real Estate Investment Trusts  
775,000
  AvalonBay Communities, Inc., 8.25% due 7/15/2008    
787,092
(REITs) - 0.9%  
350,000
  AvalonBay Communities, Inc., 6.625% due 9/15/2011    
360,655
   
895,000
  Rouse Co. LP, 3.625% due 3/15/2009    
848,993
   
1,650,000
  Rouse Co. LP, 5.375% due 11/26/2013    
1,451,183
   
 
        
3,447,923
Road & Rail - 0.1%  
30,000
  Avis Budget Car Rental LLC, 5.565% due 5/15/2014 (a)    
25,500
   
350,000
  Canadian National Railway Co., 6.25% due 8/01/2034    
352,623
   
 
        
378,123
Semiconductors & Semiconductor  
80,000
  Amkor Technology, Inc., 7.75% due 5/15/2013    
71,600
Equipment - 0.2%  
125,000
  Amkor Technology, Inc., 9.25% due 6/01/2016    
117,656
   
655,000
  Freescale Semiconductor, Inc., 9.125% due 12/15/2014 (e)    
496,162
   
 
        
685,418
Software - 0.1%  
180,598
  BMS Holdings, Inc., 12.40% due 2/15/2012 (a)(b)(e)    
166,185
Specialty Retail - 1.1%  
150,000
  Autonation, Inc., 6.258% due 4/15/2013 (a)    
125,625
   
150,000
  Autonation, Inc., 7% due 4/15/2014    
133,500
   
500,000
  General Nutrition Centers, Inc., 10.009% due 3/15/2014 (e)    
410,000
   
400,000
  General Nutrition Centers, Inc., 10.75% due 3/15/2015    
322,000
   
314,000
  Lazy Days' R.V. Center, Inc., 11.75% due 5/15/2012    
244,920
   
470,000
  Michaels Stores, Inc., 10% due 11/01/2014    
418,300
   
560,000
  Michaels Stores, Inc., 11.375% due 11/01/2016    
453,600
   
2,100,000
  Sonic Automotive, Inc. Series B, 8.625% due 8/15/2013    
1,974,000
   
 
        
4,081,945
Tobacco - 0.1%  
250,000
  Reynolds American, Inc., 7.625% due 6/01/2016    
264,763
Wireless Telecommunication  
100,000
  Cricket Communications, Inc., 9.375% due 11/01/2014    
91,000
Services - 1.6%  
240,000
  Digicel Group Ltd., 8.875% due 1/15/2015 (b)    
211,800
   
560,441
  Digicel Group Ltd., 9.125% due 1/15/2015 (b)(e)    
485,896
   
120,000
  MetroPCS Wireless, Inc., 9.25% due 11/01/2014    
110,400
   
770,000
  Nordic Telephone Co. Holdings ApS, 8.875% due 5/01/2016 (b)    
781,550
   
1,715,000
  Sprint Capital Corp., 6.875% due 11/15/2028    
1,438,871
   
2,504,000
  Vodafone Group Plc, 7.75% due 2/15/2010 (l)    
2,671,655
   
 
        
5,791,172
   
 
   Total Corporate Bonds (Cost - $265,420,066) - 70.9%    
261,796,007
   
 
   Foreign Government Obligations    
 
  EUR
500,000
  Bundesrepublik Deutschland Series 07, 4.25% due 7/04/2039    
719,288
  USD
825,000
  Israel Government AID Bond, 5.50% due 4/26/2024    
915,583
   
845,000
  Israel Government AID Bond, 5.50% due 9/18/2033    
967,621
   
  Total Foreign Government Obligations    
   
 
   (Cost - $2,277,535) - 0.7%    
2,602,492
   
 
   Preferred Securities    
 
   
 
   Capital Trusts    
 
Commercial Banks - 0.1%  
545,000
  BAC Capital Trust XI, 6.625% due 5/23/2036    
537,596
Electric Utilities - 0.2%  
790,000
  PECO Energy Capital Trust IV, 5.75% due 6/15/2033    
685,880
        Total Capital Trusts (Cost - $1,305,338) - 0.3%    
1,223,476

10


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Shares        
Industry
  Held   Preferred Stocks Value
Capital Markets - 0.4%
 
55,000
  Deutsche Bank Contingent Capital Trust II, 6.55%
$
1,345,300
Commercial Banks - 1.0%
 
145,000
  Wachovia Corp. Series J, 8%  
3,823,650
Diversified Financial Services - 0.2%
 
25,500
  Citigroup, Inc. Series AA, 8.125%  
668,607
Electrical Equipment - 0.0%
 
45,000
  Superior Essex Holding Corp. Series A, 9.50%  
33,750
Thrifts & Mortgage Finance - 1.4%
  
111,725
  Fannie Mae, 8.25%  
2,951,775
 
79,900
  Freddie Mac Series Z, 8.375%  
2,145,315
   
 
      
5,097,090
   
 
   Total Preferred Stocks (Cost - $10,471,325) - 3.0%  
10,968,397
   
 
   Total Preferred Securities (Cost - $11,776,663) - 3.3%  
12,191,873
   
 
   Other Interests (f)  
 
Health Care Providers &
 
1,895
  Critical Care Systems International, Inc.  
637
Services - 0.0%
         
 
        Total Other Interests (Cost - $0) - 0.0%  
637
    Face      
    Amount   Short-Term Securities  
 
  USD
400,000
  Federal Home Loan Bank, 1.35% due 2/01/2008  
400,000
        Total Short-Term Securities (Cost - $400,000) - 0.1%  
400,000
    Number of      
    Contracts+   Options Purchased  
 
Call Options Purchased
 
11
  Receive a fixed rate of 5.12% and pay a floating rate based on 3-  
        month USD LIBOR, Broker Lehman Brothers Special Financing,  
        expiring November 2010 (g)  
409,145
   
6
  Receive a fixed rate of 5.39% and pay a floating rate based on 3-  
        month LIBOR, Broker Lehman Brothers Special Financing, expiring  
        March 2012 (g)  
391,835
   
11
  Receive a fixed rate of 5.47% and pay a floating rate based  
        on 3-month LIBOR, Broker Bank of America NA, expiring  
        May 2012 (g)  
665,728
   
7
  Receive a fixed rate of 5.79% and pay a floating rate based on 3-  
        month LIBOR, Broker Goldman Sachs Capital Markets, L.P.,  
        expiring August 2010 (g)  
638,393
   
7
  Receive a fixed rate of 6.025% and pay a floating rate based on 3-  
        month LIBOR, Broker Lehman Brothers Special Financing,  
        expiring June 2012 (g)  
584,029
           
2,689,130
Put Options Purchased
 
11
  Pay a fixed rate of 5.12% and receive a floating rate based on 3-  
        month USD LIBOR, Broker Lehman Brothers Special Financing,  
        expiring November 2010 (g)  
241,659
   
6
  Pay a fixed rate of 5.39% and receive a floating rate based on 3-  
        month LIBOR, Broker Lehman Brothers Special Financing, expiring  
        March 2012 (g)  
365,911
   
11
  Pay a fixed rate of 5.47% and receive a floating rate based 3-  
        month LIBOR, Broker Bank of America NA, expiring May  
        2012 (g)  
505,366
   
7
  Pay a fixed rate of 5.79% and receive a floating rate based on 3-  
        month USD LIBOR, Broker Goldman Sachs Capital Markets,  
        L.P., expiring August 2010 (g)  
183,608

11


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
    Number of          
    Contracts+   Options Purchased   Value
   
7 
   Pay a fixed rate of 6.025% and receive a floating rate based on 3-      
        month LIBOR, Broker Lehman Brothers Special Financing,      
        expiring June 2012 (g)  
$
248,455 
             
1,544,999 
        Total Options Purchased
(Premiums Paid - $3,186,822) - 1.2% 		   
4,234,129 
        Total Investments before TBA Sale Commitments,    
        Investments Sold Short and Options Written    
        (Cost - $738,064,549**) - 199.5%    
736,296,781 
    Face        
    Amount   TBA Sale Commitments    
 
        Fannie Mae Guaranteed Pass-Through Certificates:    
  USD
(12,200,000)
               5.00% due 11/01/2017 - 2/15/2038    
(12,150,370)
   
(140,600,000)
               5.50% due 1/01/2018 - 2/15/2038    
(142,485,868)
   
(10,200,000)
               6.00% due 8/01/2029 - 2/15/2038    
(10,468,352)
   
(8,800,000)
  Freddie Mac Mortgage Participation Certificates,    
   
  5.50% due 11/01/2018 - 2/15/2038    
(8,909,789)
   
(200,000)
  Ginnie Mae MBS Certificates,    
   
 
   5.50% due 8/15/2033 - 2/15/2038 (c)    
(203,562)
   
  Total TBA Sale Commitments    
   
 
   (Proceeds Received - $170,569,207) - (47.2%)    
(174,217,941)
   
 
   Investments Sold Short    
 
   
(50,800,000)
  U.S. Treasury Notes, 4.1255% due 8/31/09    
(52,260,500)
   
(29,600,000)
  U.S. Treasury Notes, 4% due 8/31/12    
(31,313,573)
        Total Investments Sold Short    
        (Proceeds Received - $80,372,937) - (22.6%)    
(83,574,073)
    Number of        
    Contracts   Options Written    
 
Call Options Written  
54  
   U.S. Treasury Bonds, expiring February 2008 at USD 112    
(70,875)
   
4+
  Pay a fixed rate of 5.01% and receive a floating rate based on 3-    
   
  month USD LIBOR, Broker UBS, AG,    
   
  expiring November 2008 (g)    
(229,780)
   
6+
  Pay a fixed rate of 5.115% and receive a floating rate based on 3-    
   
  month LIBOR, Broker Lehman Brothers Special Financing,    
   
  expiring March 2008 (g)    
(445,533)
   
5+
  Pay a fixed rated of 5.135% and receive a floating rate    
   
  based on 3-month LIBOR, Broker Barclays Bank Plc,    
   
  expiring April 2008 (g)    
(368,885)
   
4+
  Pay a fixed rated of 5.485% and receive a floating rate based on    
   
  expiring 3-month LIBOR, Broker JPMorgan Chase, expiring    
   
  October 2009 (g)    
(316,759)
   
11+
  Pay a fixed rated of 5.67% and receive a floating rate based on 3-    
   
  month LIBOR, Broker Citibank NA, expiring January 2010 (g)    
(929,625)
   
 
        
(2,361,457)
Put Options Written  
4+
  Receive a fixed rate of 5.01% and pay a floating rate based on 3-    
   
  month USD LIBOR, Broker UBS, AG,    
   
  expiring November 2008 (g)    
(61,508)
   
6+
  Receive a fixed rate of 5.115% and pay a floating rate based on 3-    
   
  month LIBOR, Broker Lehman Brothers Special Financing,    
   
  expiring March 2008 (g)    
(9,742)
   
5+
  Receive a fixed rate of 5.135% and pay a floating rate based on 3-    
   
  month LIBOR, Broker Barclays Bank Plc, expiring April 2008 (g)    
(10,589)
   
4+
  Receive a fixed rate of 5.485% and pay a floating rate based on 3-    
        month LIBOR, Broker JPMorgan Chase,    
        expiring October 2009 (g)    
(105,872)

12

BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Number of          
Contracts   Options Written   Value
11+   Receive a fixed rate of 5.67% and pay a floating rate based on 3-      
    month LIBOR, Broker Citibank NA, expiring January 2010 (g)  
$
(244,410)
         
(432,121)
    Total Options Written    
    (Premiums Received - $2,515,624) - (0.8%)    
(2,793,578)
    Total Investments, Net of TBA Sale Commitments,
Investments Sold Short and Options Written 		   
    (Cost - $484,606,781) - 128.9%    
475,711,189 
    Liabilities in Excess of Other Assets - (28.9%)    
(106,559,920)
    Net Assets - 100.0%  
$
369,151,269 

*         

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.
**     

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
$
739,236,432 
Gross unrealized appreciation
$
11,074,740 
Gross unrealized depreciation
 
(14,014,391)
Net unrealized depreciation
$
(2,939,651)
+ One contract represents a notional amount of $1,000,000.
(a)     

Floating rate security.
(b)     

The security may be offered and sold to "qualified institutional buyers" under Rule 144A of the Securities Act of 1933.
(c)     

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.
(d)     

Represents a zero coupon or step bond; the interest rate shown reflects the effective yield at the time of purchase.
(e)     

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

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

This European style swaption, which can be exercised only on the expiration date, represents a standby commitment whereby the writer of the option is obligated to enter into a predetermined interest rate swap contract upon exercise of swaption.
(h)     

The security is a perpetual bond and has no definite maturity date.
(i)     

Subject to principal paydowns.
(j)     

Represents the interest only portion of an asset-backed or mortgage-backed security and has either a nominal or a notional amount of principal.
(k)     

All or a portion of security held as collateral in connection with open financial futures contracts.
(l)     

All or a portion of security held as collateral in connection with open reverse repurchase agreements.

  Reverse repurchase agreement outstanding as of January 31, 2008 were as follows:
  Interest Trade Maturity Net Closing   Face
Counterparty Rate Date Date Amount   Amount
Barclays Capital, Inc. 5.57% 9/06/2007 To be determined
$
7,022,201  
$
6,865,000
Barclays Capital, Inc. 5.57% 9/06/2007 To be determined
$
3,236,452  
$
3,164,000
Barclays Capital, Inc. 5.57% 9/06/2007 To be determined
$
3,024,712  
$
2,957,000
Barclays Capital, Inc. 5.57% 9/06/2007 To be determined
$
3,047,216  
$
2,979,000
Barclays Capital, Inc. 5.57% 9/06/2007 To be determined
$
2,627,827  
$
2,569,000
Barclays Capital, Inc. 5.10% 9/24/2007 To be determined
$
1,729,080  
$
1,698,048
Credit Suisse Securities LLC 5.45% 9/14/2007 To be determined
$
2,043,522  
$
2,002,000
Credit Suisse Securities LLC 5.45% 9/14/2007 To be determined
$
1,797,524  
$
1,761,000
Credit Suisse Securities LLC 5.10% 10/10/2007 To be determined
$
2,042,507  
$
2,010,325
Credit Suisse Securities LLC 3.29% 1/30/2008 2/12/2008
$
2,838,368  
$
2,835,000
Lehman Brothers, Inc. 4.25% 1/11/2008 2/12/2008
$
1,079,061  
$
1,075,000
Lehman Brothers, Inc. 4.25% 1/11/2008 2/12/2008
$
60,952,967  
$
60,745,000
Lehman Brothers, Inc. 4.15% 1/15/2008 2/12/2008
$
1,818,150  
$
1,812,300
Lehman Brothers, Inc. 2.15% 1/30/2008 To be determined
$
4,205,790  
$
4,205,288

13


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
  Interest Trade Maturity   Net Closing   Face
Counterparty
Rate Date Date   Amount   Amount
Lehman Brothers, Inc. 2.20% 1/31/2008 2/1/2008  
$
2,124,355
 
$
2,124,225
Lehman Brothers
       
 
      International
4.75% 11/29/2007 To be determined  
$
3,271,394
 
$
3,244,000
Lehman Brothers
       
 
      International
5.00% 12/04/2007 To be determined  
$
2,646,510
 
$
2,625,000
Lehman Brothers
       
 
      International
5.00% 12/04/2007 To be determined  
$
3,074,993
 
$
3,050,000
Lehman Brothers
       
 
      International
5.00% 12/04/2007 To be determined  
$
3,258,484
 
$
3,232,000
Lehman Brothers
       
 
      International
5.00% 12/04/2007 To be determined  
$
2,628,363
 
$
2,607,000
Lehman Brothers
       
 
      International
5.00% 12/04/2007 To be determined  
$
2,049,659
 
$
2,033,000
Lehman Brothers
       
 
      International
4.75% 12/21/2007 To be determined  
$
4,876,877
 
$
4,850,000
Lehman Brothers
       
 
      International
4.75% 12/21/2007 To be determined  
$
2,529,943
 
$
2,516,000
Lehman Brothers
       
 
      International
4.75% 12/28/2007 To be determined  
$
1,648,754
 
$
1,641,822
Total
       
$
125,574,709
  
$
124,601,008

(m)     

Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
  Purchase Sale Realized   Interest
Affiliate Cost Cost Gain   Income
Merrill Lynch Mortgage Trust Series            
   2007-C1 Class AM, 6.022% due 6/12/2050 - - -  
$
 21,417

• 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 many combine industry sub-classifications for reporting ease. Industries are shown as a percent of net assets.
   
• Financial futures contracts purchased as of January 31, 2008 were as follows:
Number of   Expiration   Face   Unrealized
Contracts Issue Date   Value   Appreciation
286 10-Year U.S. Treasury Bonds March 2008  
$
32,586,069
 
$
795,494 
1,193 30-Year U.S. Treasury Bonds March 2008  
$
141,191,852
 
1,147,961 
57 Euro BOBL Future March 2008  
$
9,283,018
 
88,174 
45 Euro-Bund Future March 2008  
$
7,734,101
 
 
72,643 
Total Unrealized Appreciation - Net          
$
2,104,272 

• Financial futures contracts sold as of January 31, 2008 were as follows:
Number of   Expiration   Face   Unrealized
Contracts Issue Date   Value   Depreciation
326
2-Year U.S. Treasury Bonds March 2008  
$
68,448,299
 
$
(1,061,013)
1,978
5-Year U.S. Treasury Bonds March 2008  
$
217,326,517
 
 
(6,187,483)
Total Unrealized Depreciation - Net          
$
(7,248,496)

14


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited)
(in U.S. dollars)
• Forward foreign exchange contracts as of January 31, 2008 were as follows:
      Unrealized
Foreign Currency Foreign Currency Settlement Appreciation
Purchased Sold Date (Depreciation)
JPY 409,641,661 USD 3,769,038 4/11/2008
$
101,172 
USD 964,687 EUR 658,040 4/23/2008  
(11,026)
Total Unrealized Appreciation on Forward    
Foreign Exchange Contracts - Net  
$
90,146 
• Swaps outstanding as of January 31, 2008 were as follows:
          Unrealized
    Notional   Appreciation
    Amount   (Depreciation)
Receive (pay) a variable return based on the change in the since inception return          
of the Bank of America CMBS AAA 10-Year Index and pay a floating rate          
based on 1.0293%            
Broker, Bank of America NA            
Expires April 2008 USD  
4,225,000 
   
- 
 
Receive a fixed rate of 4.88% and pay a floating rate based on 3-month  
   
USD LIBOR    
   
Broker, Lehman Brothers Special Financing    
   
Expires August 2009 USD  
40,200,000 
 
$
1,243,154 
 
Receive a fixed rate of 4.7709% and pay a floating rate based on 3-month  
   
USD LIBOR    
   
Broker, Lehman Brothers Special Financing    
   
Expires August 2009 USD  
27,800,000 
   
2,154,798 
 
Receive a fixed rate of 4.62377% and pay a floating rate based on 3-month  
   
USD LIBOR    
   
Broker, Credit Suisse    
   
Expires September 2009 USD  
50,000,000 
   
1,343,302 
 
Receive a fixed rate of 4.1% and pay a floating rate based on 3-month  
   
USD LIBOR    
   
Broker, Lehman Brothers Special Financing    
   
Expires December 2009 USD  
11,300,000 
   
236,396 
 
Receive a fixed rate of 4.055% and pay a floating rate based on 3-month  
   
USD LIBOR    
   
Broker, Barclays Bank    
   
Expires December 2009 USD  
11,400,000 
   
228,969 
 
Pay a fixed rate of 3.565% and receive a floating rate based on 3-month  
   
USD LIBOR    
   
Broker, Barclays Bank    
   
Expires January 2010 USD  
11,100,000 
   
(121,445)
 
Pay a fixed rate of 3.6625% and receive a floating rate based on 3-month  
   
USD LIBOR    
   
Broker, Barclays Bank    
   
Expires January 2010 USD  
10,600,000 
   
(135,317)
 
Receive a fixed rate of 5% and pay a floating rate based on 3-month  
   
USD LIBOR    
   
Broker, Deutsche Bank AG London    
   
Expires November 2010 USD  
4,600,000 
   
237,295 

15


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited)
(in U.S. dollars)
              Unrealized
        Notional     Appreciation
        Amount     (Depreciation)
Pay a fixed rate of 4.922% and receive a floating rate based on 3-month              
USD LIBOR              
Broker, Lehman Brothers Special Financing              
Expires March 2011  
USD
 
13,500,000
 
$
(688,416)
 
Receive a fixed rate of 5.496% and pay a floating rate based on 3-month  
         
USD LIBOR  
         
Broker, Bank of America NA  
         
Expires July 2011  
USD
 
25,100,000
   
1,889,661 
 
Receive a fixed rate of 4.95% and pay a floating rate based on 3-month  
         
USD LIBOR  
         
Broker, UBS Warburg  
         
Expires November 2011  
USD
 
2,200,000
   
128,544 
 
Receive a fixed rate of 5.025% and pay a floating rate based on 3-month  
         
USD LIBOR  
         
Broker, Deutsche Bank AG London  
       
Expires November 2011  
USD
 
3,000,000
   
183,540 
 
Pay a fixed rate of 5.0016% and receive a floating rate based on 3-month  
         
LIBOR  
         
Broker, UBS Warburg  
         
Expires January 2012  
USD
 
8,300,000
   
(494,990)
 
Pay a fixed rate of 5.58875% and receive a floating rate based on 3-month  
         
USD LIBOR  
         
Broker, Goldman Sachs & Co.  
         
Expires July 2012  
USD
 
42,000,000
   
(3,684,122)
 
Receive a fixed rate of 5.07625% and pay a floating rate based on 3-month  
         
USD LIBOR  
         
Broker, Citibank NA  
         
Expires August 2012  
USD
 
82,500,000
   
5,547,567 
 
Receive a fixed rate of 5.10531% and pay a floating rate based on 3-month  
         
USD LIBOR  
         
Broker, Goldman Sachs & Co.  
         
Expires August 2012  
USD
 
19,500,000
   
1,336,061 
 
Receive a fixed rate of 5.0565% and pay a floating rate based on 3-month  
         
USD LIBOR  
         
Broker, Bank of America NA  
         
Expires August 2012  
USD
 
49,300,000
   
2,797,319 
 
Receive a fixed rate of 4.9034% and pay a floating rate based on 3-month  
         
USD LIBOR  
         
Broker, Barclays Bank  
         
Expires September 2012  
USD
 
30,000,000
   
1,777,200 
 
Receive a fixed rate of 4.856% and pay a floating rate based on 3-month  
         
LIBOR  
         
Broker, Deutsche Bank AG London  
         
Expires October 2012  
USD
 
9,400,000
   
543,235 

16


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited)
(in U.S. dollars)
            Unrealized
        Notional   Appreciation
        Amount   (Depreciation)
Receive a fixed rate of 4.32% and pay a floating rate based on 3-month              
USD LIBOR              
Broker, Citibank NA              
Expires November 2012  
USD
 
10,500,000
 
$
364,721 
 
Receive a fixed rate of 4.25% and pay a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Goldman Sachs & Co.  
 
   
Expires November 2012  
USD
 
2,625,000
   
83,023 
 
Receive a fixed rate of 4.4062% and pay a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Lehman Brothers Special Financing  
 
   
Expires November 2012  
USD
 
39,700,000
   
1,534,519 
 
Pay a fixed rate of 4.2424% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Lehman Brothers Special Financing  
 
   
Expires December 2012  
USD
 
45,000,000
   
(1,386,137)
 
Pay a fixed rate of 4.51% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Citibank NA  
 
   
Expires October 2014  
USD
 
41,200,000
   
(1,571,178)
 
Receive a fixed rate of 5.005% and pay a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, JPMorgan Chase  
 
   
Expires October 2014  
USD
 
9,500,000
   
630,872 
 
Pay a fixed rate of 4.50% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, JPMorgan Chase  
 
   
Expires May 2015  
USD
 
2,800,000
   
(59,947)
 
Receive a fixed rate of 4.3715% and pay a floating rate based on 3-month  
 
   
LIBOR Municipal Swap Index rate  
 
   
Broker, UBS Warburg  
 
   
Expires June 2015  
USD
 
4,800,000
   
115,759 
 
Receive a fixed rate of 4.725% and pay a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Morgan Stanley Capital Services, Inc.  
 
   
Expires August 2015  
USD
 
6,200,000
   
301,555 
 
Receive a fixed rate of 4.87% and pay a floating rate based on 3-month  
 
   
LIBOR Municipal Swap Index rate  
 
   
Broker, Goldman Sachs & Co.  
 
   
Expires January 2016  
USD
 
5,000,000
   
284,643 
 
Receive a fixed rate of 5.723% and pay a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, JPMorgan Chase  
 
   
Expires July 2016  
USD
 
4,800,000
   
551,968 

17


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited)
(in U.S. dollars)
            Unrealized
        Notional   Appreciation
        Amount   (Depreciation)
Receive a fixed rate of 5.295% and pay a floating rate based on 3-month              
USD LIBOR              
Broker, UBS Warburg              
Expires February 2017  
USD
 
11,300,000
  $
964,046 
 
Receive a fixed rate of 5.25% and pay a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Goldman Sachs & Co.  
 
   
Expires April 2017  
USD
 
700,000
   
55,901 
 
Pay a fixed rate of 5.85% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Deutsche Bank AG London  
 
   
Expires June 2017  
USD
 
900,000
   
(114,391)
 
Pay a fixed rate of 5.5451% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Deutsche Bank AG London  
 
   
Expires June 2017  
USD
 
1,600,000
   
(165,527)
 
Pay a fixed rate of 5.6825% and receive a floating rate based on 3-month  
 
   
LIBOR  
 
   
Broker, Lehman Brothers Special Financing  
 
   
Expires June 2017  
USD
 
4,600,000
   
(457,394)
 
Pay a fixed rate of 5.74% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Deutsche Bank AG London  
 
   
Expires June 2017  
USD
 
1,200,000
   
(142,163)
 
Pay a fixed rate of 5.6425% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Citibank NA  
 
   
Expires July 2017  
USD
 
6,500,000
   
(718,775)
 
Pay a fixed rate of 5.775% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Deutsche Bank AG London  
 
   
Expires July 2017  
USD
 
12,300,000
   
(1,490,258)
 
Pay a fixed rate of 5.155% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Citibank NA  
 
   
Expires September 2017  
USD
 
10,900,000
   
(780,705)
 
Pay a fixed rate of 5.04015% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Deutsche Bank AG London  
 
   
Expires September 2017  
USD
 
12,500,000
   
(785,786)
 
Pay a fixed rate of 5.26054% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Morgan Stanley Capital Services, Inc.  
 
   
Expires September 2017  
USD
 
5,100,000
   
(407,517)

18


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited)
(in U.S. dollars)
              Unrealized
        Notional     Appreciation
        Amount     (Depreciation)
Pay a fixed rate of 5.307% and receive a floating rate based on 3-month              
USD LIBOR              
Broker, Deutsche Bank AG London              
Expires October 2017  
USD
 
5,400,000
 
$
(456,673)
 
Pay a fixed rate of 5.3075% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Deutsche Bank AG London  
 
   
Expires October 2017  
USD
 
13,800,000
   
(1,159,955)
 
Pay a fixed rate of 5.01387% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Deutsche Bank AG London  
 
   
Expires November 2017  
USD
 
5,000,000
   
(312,172)
 
Receive a fixed rate of 5.411% and pay a floating rate based on 3-month  
 
   
LIBOR      
 
   
Broker, JPMorgan Chase  
 
   
Expires August 2022  
USD
 
8,545,000
   
756,917 
 
Receive a fixed rate of 5.411% and pay a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Goldman Sachs & Co.  
 
   
Expires April 2027  
USD
 
1,400,000
   
122,619 
 
Pay a fixed rate of 5.365% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Deutsche Bank AG London  
 
   
Expires September 2027  
USD
 
8,000,000
   
(630,826)
 
Pay a fixed rate of 5.09% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Citibank NA  
 
   
Expires December 2027  
USD
 
3,200,000
   
(138,421)
 
Pay a fixed rate of 5.0605% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Goldman Sachs & Co.  
 
   
Expires November 2037  
USD
 
6,200,000
   
(241,589)
 
Pay a fixed rate of 5.06276% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Citibank NA  
 
   
Expires December 2037  
USD
 
1,300,000
   
(49,803)
 
Pay a fixed rate of 5.0639% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Lehman Brothers Special Financing  
 
   
Expires December 2037  
USD
 
1,300,000
   
(50,032)
 
Pay a fixed rate of 4.785% and receive a floating rate based on 3-month  
 
   
USD LIBOR  
 
   
Broker, Citibank NA  
 
   
Expires January 2038  
USD
 
2,000,000
   
10,497 

19


BlackRock Core Bond Trust
Schedule of Investments as of January 31, 2008 (Unaudited)
(in U.S. dollars)
              Unrealized
        Notional     Appreciation
        Amount     (Depreciation)
Pay a fixed rate of 4.601% and receive a floating rate based on 3-month              
USD LIBOR              
Broker, Lehman Brothers Special Financing              
Expires January 2038  
USD
 
5,000,000
 
$
169,588 
 
Pay a fixed rate of 4.8325% and receive a floating rate based on the 3-month          
USD LIBOR  
         
Broker, Morgan Stanley Capital Services, Inc.  
         
Expires January 2038  
USD
 
6,000,000
   
(16,932)
Total          
$
9,333,198 

• Currency Abbreviations:
  EUR
Euro
  JPY
Japanese Yen
  USD
U.S. Dollar

20

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 asof 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 Core Bond Trust  
       
  By: /s/ Donald C. Burke  
    Donald C. Burke  
    Chief Executive Officer of  
    BlackRock Core Bond Trust  
       
  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 Core Bond Trust  
       
  Date:   March 24, 2008  
       
  By: /s/ Neal J. Andrews  
    Neal J. Andrews  
    Chief Financial Officer (principal financial officer) of  
    BlackRock Core Bond Trust  
       
  Date:  March 24, 2008