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 811-07354

 

Name of Fund: BlackRock Investment Quality Municipal Trust, Inc. (BKN)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Investment Quality Municipal Trust, Inc., 55 East 52nd Street, New York, NY 10055

 

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

 

Date of fiscal year end: 04/30/2012

 

Date of reporting period: 07/31/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments July 31, 2011 (Unaudited)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 2.3%

 

 

 

 

 

 

 

Birmingham Special Care Facilities
Financing Authority, RB, Children’s
Hospital (AGC):

 

 

 

 

 

 

 

6.00%, 6/01/34

 

$

1,745

 

$

1,876,782

 

6.00%, 6/01/39

 

 

500

 

 

534,935

 

Birmingham Water Works Board, RB,
4.75%, 1/01/36

 

 

3,150

 

 

3,026,646

 

Hoover City Board of Education, GO,
Refunding, 4.25%, 2/15/40

 

 

3,050

 

 

2,786,267

 

 

 

 

 

 

 

8,224,630

 

Arizona — 4.6%

 

 

 

 

 

 

 

Arizona Sports & Tourism Authority, RB,
Multipurpose Stadium Facilities,
Series A (NPFGC), 5.00%, 7/01/31

 

 

3,000

 

 

2,708,700

 

Arizona State University, RB, Series D,
5.50%, 7/01/26

 

 

475

 

 

522,020

 

Mohave County Unified School District
No. 20 Kingman, GO, School
Improvement Project of 2006,
Series C, (AGC), 5.00%, 7/01/26

 

 

1,800

 

 

1,914,840

 

Pima County IDA, Refunding IDRB,
Tucson Electric Power, 5.75%,
9/01/29

 

 

1,375

 

 

1,391,651

 

Salt Verde Financial Corp., RB, Senior:

 

 

 

 

 

 

 

5.00%, 12/01/32

 

 

1,035

 

 

936,654

 

5.00%, 12/01/37

 

 

4,585

 

 

4,103,850

 

San Luis Facility Development Corp.,
RB, Senior Lien, Regional Detention
Center Project:

 

 

 

 

 

 

 

6.25%, 5/01/15

 

 

405

 

 

393,628

 

7.00%, 5/01/20

 

 

490

 

 

484,203

 

7.25%, 5/01/27

 

 

980

 

 

886,293

 

State of Arizona, COP, Department of
Administration, Series A (AGM),
5.00%, 10/01/29

 

 

1,100

 

 

1,126,609

 

University Medical Center Corp. Arizona,
RB:

 

 

 

 

 

 

 

6.00%, 7/01/39 (a)

 

 

1,000

 

 

987,930

 

6.50%, 7/01/39

 

 

750

 

 

771,900

 

 

 

 

 

 

 

16,228,278

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Arkansas — 0.8%

 

 

 

 

 

 

 

Springdale School District No. 50, GO,
Refunding, Construction, Series A,
4.50%, 6/01/36

 

$

3,130

 

$

2,998,790

 

California — 16.6%

 

 

 

 

 

 

 

California County Tobacco Securitization
Agency, RB, CAB, Stanislaus,
Sub-Series C, 6.30%, 6/01/55 (b)

 

 

7,090

 

 

71,255

 

California Health Facilities Financing
Authority, Refunding RB, Sutter
Health, Series B, 5.88%, 8/15/31

 

 

2,300

 

 

2,456,998

 

Carlsbad Unified School District, GO,
Election of 2006, Series B, 5.81%,
5/01/34 (c)

 

 

1,500

 

 

941,805

 

City of San Jose California, RB,
Series A-1, AMT, 5.75%, 3/01/34

 

 

3,000

 

 

2,973,600

 

County of Sacramento California, RB,
Senior Series A (AGM), 5.00%,
7/01/41

 

 

2,000

 

 

1,936,600

 

Dinuba Unified School District, GO,
Election of 2006 (AGM):

 

 

 

 

 

 

 

5.63%, 8/01/31

 

 

250

 

 

268,038

 

5.75%, 8/01/33

 

 

535

 

 

576,928

 

Foothill Eastern Transportation Corridor
Agency California, Refunding RB:

 

 

 

 

 

 

 

5.75%, 1/15/40

 

 

3,495

 

 

3,083,289

 

CAB, 5.88%, 1/15/28

 

 

7,000

 

 

6,837,600

 

Hartnell Community College District
California, GO, CAB, Election of 2002,
Series D, 6.34%, 8/01/34 (c)

 

 

2,475

 

 

1,279,971

 

Los Altos Elementary School District,
GO, CAB, Election of 1998, Series B
(NPFGC), 5.93%, 8/01/13 (b)(d)

 

 

10,945

 

 

5,771,627

 

Norwalk-La Mirada Unified School
District California, GO, Refunding,
CAB, Election of 2002, Series E (AGC),
6.47%, 8/01/38 (b)

 

 

12,000

 

 

1,896,240

 

Palomar Community College District,
GO, CAB, Election of 2006, Series B:

 

 

 

 

 

 

 

6.09%, 8/01/30 (b)

 

 

2,270

 

 

657,142

 

6.67%, 8/01/39 (c)

 

 

3,000

 

 

1,146,150

 

San Diego Community College District
California, GO, CAB, Election of 2002,
6.15%, 8/01/19 (c)

 

 

4,200

 

 

2,550,072

 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

CAB

Capital Appreciation Bonds

CIFG

CDC IXIS Financial Guaranty

COP

Certificates of Participation

EDA

Economic Development Authority

EDC

Economic Development Corp.

FGIC

Financial Guaranty Insurance Co.

GO

General Obligation Bonds

IDA

Industrial Development Authority

IDRB

Industrial Development Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

PILOT

Payment in Lieu of Taxes

RB

Revenue Bonds

TAX

US Tax

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JULY 31, 2011

1

 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

State of California, GO:

 

 

 

 

 

 

 

Refunding (CIFG), 4.50%, 8/01/28

 

$

1,000

 

$

974,240

 

Various Purpose, 5.75%,
4/01/31

 

 

3,000

 

 

3,224,700

 

Various Purpose, 6.00%,
3/01/33

 

 

3,220

 

 

3,517,625

 

Various Purpose, 6.50%,
4/01/33

 

 

2,900

 

 

3,246,608

 

Various Purpose, 5.50%,
3/01/40

 

 

3,650

 

 

3,794,065

 

Various Purpose (CIFG), 5.00%,
3/01/33

 

 

5,000

 

 

4,967,150

 

Various Purpose (NPFGC), 5.00%,
6/01/37

 

 

5,000

 

 

4,949,550

 

University of California, RB, Limited
Project, Series B, 4.75%, 5/15/38

 

 

2,050

 

 

1,939,935

 

 

 

 

 

 

 

59,061,188

 

Colorado — 1.1%

 

 

 

 

 

 

 

Park Creek Metropolitan District, RB,
Senior Limited Property Tax (AGM),
6.00%, 12/01/38

 

 

1,500

 

 

1,565,205

 

Sand Creek Metropolitan District, GO,
Refunding, Limited Tax, Series B:

 

 

 

 

 

 

 

4.75%, 12/01/35

 

 

1,400

 

 

1,272,166

 

5.00%, 12/01/40

 

 

1,200

 

 

1,057,668

 

 

 

 

 

 

 

3,895,039

 

Connecticut — 0.5%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB:

 

 

 

 

 

 

 

Sacred Heart University, Series G,
5.38%, 7/01/31

 

 

600

 

 

595,986

 

Western Connecticut Health,
Series M, 5.38%, 7/01/41

 

 

1,300

 

 

1,302,418

 

 

 

 

 

 

 

1,898,404

 

Delaware — 0.5%

 

 

 

 

 

 

 

County of Sussex Delaware, RB, NRG
Energy, Inc., Indian River Project,
6.00%, 10/01/40

 

 

1,800

 

 

1,813,950

 

District of Columbia — 1.0%

 

 

 

 

 

 

 

District of Columbia Tobacco Settlement
Financing Corp., Refunding RB,
Asset-Backed, 6.50%, 5/15/33

 

 

3,500

 

 

3,573,570

 

Florida — 7.8%

 

 

 

 

 

 

 

County of Miami-Dade Florida, RB, CAB,
Sub-Series A (NPFGC) (b):

 

 

 

 

 

 

 

5.20%, 10/01/32

 

 

4,225

 

 

988,861

 

6.67%, 10/01/32

 

 

5,000

 

 

1,251,550

 

5.21%, 10/01/33

 

 

4,000

 

 

865,200

 

6.77%, 10/01/33

 

 

15,375

 

 

3,566,385

 

5.21%, 10/01/34

 

 

4,580

 

 

919,618

 

5.22%, 10/01/35

 

 

5,000

 

 

926,500

 

County of Orange Florida, Refunding RB
(Syncora), 4.75%, 10/01/32

 

 

5,000

 

 

4,824,900

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Florida (concluded)

 

 

 

 

 

 

 

Hillsborough County IDA, RB, National
Gypsum Co., Series A, 7.13%,
4/01/30

 

$

3,700

 

$

3,364,706

 

Miami Beach Health Facilities Authority,
RB, Mount Sinai Medical Center of
Florida, 6.75%, 11/15/21

 

 

1,845

 

 

1,897,232

 

Sumter Landing Community
Development District Florida, RB,
Sub-Series B, 5.70%, 10/01/38

 

 

3,585

 

 

2,816,591

 

Village Community Development District
No. 6, Special Assessment Bonds,
5.63%, 5/01/22

 

 

6,220

 

 

6,237,416

 

 

 

 

 

 

 

27,658,959

 

Georgia — 0.5%

 

 

 

 

 

 

 

Milledgeville & Baldwin County
Development Authority, RB, Georgia
College & State University
Foundation, 6.00%, 9/01/14 (d)

 

 

1,500

 

 

1,757,985

 

Idaho — 0.8%

 

 

 

 

 

 

 

Idaho Health Facilities Authority,
Refunding RB, Trinity Health Group,
Series B, 6.25%, 12/01/33

 

 

2,500

 

 

2,726,650

 

Illinois — 7.8%

 

 

 

 

 

 

 

Chicago Public Building Commission
Building Illinois, RB, Series A (NPFGC),
7.00%, 1/01/20 (d)

 

 

5,000

 

 

6,509,900

 

Illinois Finance Authority, RB:

 

 

 

 

 

 

 

MJH Education Assistance IV
LLC, Sub-Series B, 5.38%,
6/01/35 (e)(f)

 

 

700

 

 

140,028

 

Navistar International,
Recovery Zone, 6.50%,
10/15/40

 

 

1,925

 

 

1,978,419

 

Northwestern Memorial
Hospital, Series A, 5.50%,
8/15/14 (d)

 

 

5,800

 

 

6,621,106

 

Roosevelt University Project,
6.50%, 4/01/44

 

 

1,500

 

 

1,539,945

 

Rush University Medical
Center, Series C, 6.63%,
11/01/39

 

 

1,200

 

 

1,264,824

 

Illinois Finance Authority, Refunding RB:

 

 

 

 

 

 

 

Friendship Village
Schaumburg, Series A, 5.63%,
2/15/37

 

 

345

 

 

273,847

 

OSF Healthcare System,
Series A, 6.00%, 5/15/39

 

 

1,535

 

 

1,561,049

 

Railsplitter Tobacco Settlement
Authority, RB:

 

 

 

 

 

 

 

6.25%, 6/01/24

 

 

6,000

 

 

6,263,340

 

6.00%, 6/01/28

 

 

1,700

 

 

1,750,745

 

 

 

 

 

 

 

27,903,203

 

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JULY 31, 2011

2

 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Indiana — 0.4%

 

 

 

 

 

 

 

Indiana Finance Authority, Refunding
RB, Improvement, U.S. Steel Corp.,
6.00%, 12/01/26

 

$

1,350

 

$

1,363,514

 

Iowa — 1.1%

 

 

 

 

 

 

 

Iowa Higher Education Loan Authority,
RB, Private College Facility, Buena
Vista University Project, 5.00%,
4/01/31

 

 

1,480

 

 

1,491,189

 

Iowa Higher Education Loan Authority,
Refunding RB, Private College Facility:

 

 

 

 

 

 

 

5.75%, 9/01/30

 

 

965

 

 

971,726

 

6.00%, 9/01/39

 

 

1,500

 

 

1,491,840

 

 

 

 

 

 

 

3,954,755

 

Kansas — 0.6%

 

 

 

 

 

 

 

Kansas Development Finance Authority,
RB, University of Kansas Tenant,
Series O, 4.75%, 6/15/41

 

 

900

 

 

870,660

 

Kansas Development Finance Authority,
Refunding RB, Sisters of Leavenworth,
Series A, 5.00%, 1/01/28

 

 

1,155

 

 

1,193,438

 

 

 

 

 

 

 

2,064,098

 

Kentucky — 2.0%

 

 

 

 

 

 

 

Kentucky Economic Development
Finance Authority, RB, Louisville
Arena, Sub-Series A-1 (AGC), 6.00%,
12/01/38

 

 

700

 

 

721,672

 

Kentucky Economic Development
Finance Authority, Refunding RB,
Norton Healthcare Inc., Series B
(NPFGC), 6.19%, 10/01/23 (b)

 

 

8,500

 

 

4,301,255

 

Louisville/Jefferson County Metropolitan
Government, Refunding RB, Jewish
Hospital & St. Mary’s HealthCare,
6.13%, 2/01/37

 

 

2,250

 

 

2,257,763

 

 

 

 

 

 

 

7,280,690

 

Louisiana — 1.8%

 

 

 

 

 

 

 

Louisiana Local Government
Environmental Facilities & Community
Development Authority, RB:

 

 

 

 

 

 

 

Southeastern Louisiana University,
Series A (AGM), 5.00%, 10/01/40

 

 

1,025

 

 

1,046,863

 

Westlake Chemical Corp.,
Series A-1, 6.50%, 11/01/35

 

 

1,565

 

 

1,619,666

 

Louisiana Public Facilities Authority, RB,
Belle Chasse Educational Foundation
Project, 6.50%, 5/01/31

 

 

600

 

 

622,290

 

Louisiana Public Facilities Authority,
Refunding RB, Entergy Gulf States
Louisiana, LLC Projects, Series A,
5.00%, 9/01/28

 

 

3,000

 

 

3,039,690

 

 

 

 

 

 

 

6,328,509

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Maryland — 1.3%

 

 

 

 

 

 

 

Maryland EDC, Refunding RB, CNX
Marine Terminals Inc., 5.75%,
9/01/25

 

$

780

 

$

769,595

 

Maryland Health & Higher Educational
Facilities Authority, Refunding RB,
Doctor’s Community Hospital, 5.63%,
7/01/30

 

 

4,100

 

 

3,663,227

 

 

 

 

 

 

 

4,432,822

 

Michigan — 1.5%

 

 

 

 

 

 

 

Michigan State Building Authority,
Refunding RB, Facilities Program,
Series I, 6.25%, 10/15/38

 

 

1,875

 

 

2,003,569

 

Royal Oak Hospital Finance Authority
Michigan, Refunding RB, William
Beaumont Hospital, 8.25%, 9/01/39

 

 

2,750

 

 

3,174,847

 

 

 

 

 

 

 

5,178,416

 

Minnesota — 1.1%

 

 

 

 

 

 

 

City of Minneapolis Minnesota,
Refunding RB, Fairview Health
Services, Series B (AGC), 6.50%,
11/15/38

 

 

3,500

 

 

3,812,830

 

Mississippi — 2.4%

 

 

 

 

 

 

 

Mississippi Development Bank, RB,
Hinds Community College District,
Capital Improvement Project (AGM),
5.00%, 4/01/36

 

 

1,910

 

 

1,931,774

 

Mississippi Development Bank Special
Obligation, RB, Jackson County
Limited Tax Note (AGC), 5.50%,
7/01/32

 

 

2,655

 

 

2,788,653

 

University of Southern Mississippi, RB,
Campus Facilities Improvements
Project, 5.38%, 9/01/36

 

 

3,750

 

 

3,903,187

 

 

 

 

 

 

 

8,623,614

 

Missouri — 0.7%

 

 

 

 

 

 

 

Missouri Joint Municipal Electric Utility
Commission, RB, Plum Point Project
(NPFGC), 4.60%, 1/01/36

 

 

2,790

 

 

2,420,297

 

Montana — 0.8%

 

 

 

 

 

 

 

Montana Facility Finance Authority,
Refunding RB, Sisters of Leavenworth,
Series A, 4.75%, 1/01/40

 

 

2,850

 

 

2,763,417

 

Nebraska — 1.0%

 

 

 

 

 

 

 

Nebraska Investment Finance Authority,
Refunding RB, Series A:

 

 

 

 

 

 

 

5.90%, 9/01/36

 

 

1,700

 

 

1,829,863

 

6.05%, 9/01/41

 

 

1,585

 

 

1,687,771

 

 

 

 

 

 

 

3,517,634

 

Nevada — 0.3%

 

 

 

 

 

 

 

County of Clark Nevada, Refunding RB,
Alexander Dawson School Nevada
Project, 5.00%, 5/15/29

 

 

1,065

 

 

1,068,525

 

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JULY 31, 2011

3

 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey — 2.9%

 

 

 

 

 

 

 

Middlesex County Improvement
Authority, RB, Subordinate, Heldrich
Center Hotel, Series B, 6.25%,
1/01/37 (e)(f)

 

$

1,510

 

$

135,900

 

New Jersey EDA, RB, Cigarette Tax,
5.75%, 6/15/29

 

 

5,500

 

 

5,451,105

 

New Jersey Educational Facilities
Authority, Refunding RB:

 

 

 

 

 

 

 

College of New Jersey, Series D
(AGM), 5.00%, 7/01/35

 

 

1,225

 

 

1,240,680

 

University of Medicine &
Dentistry, Series B, 7.13%,
12/01/23

 

 

950

 

 

1,111,547

 

University of Medicine &
Dentistry, Series B, 7.50%,
12/01/32

 

 

1,225

 

 

1,401,829

 

New Jersey State Housing & Mortgage
Finance Agency, RB, Series AA,
6.50%, 10/01/38

 

 

875

 

 

947,468

 

 

 

 

 

 

 

10,288,529

 

New Mexico — 0.7%

 

 

 

 

 

 

 

Village of Los Ranchos de Albuquerque
New Mexico, Refunding RB,
Albuquerque Academy Project, 4.50%,
9/01/40

 

 

2,500

 

 

2,298,575

 

New York — 4.6%

 

 

 

 

 

 

 

Albany Industrial Development Agency,
RB, New Covenant Charter School
Project, Series A, 7.00%, 5/01/35 (e)(f)

 

 

725

 

 

181,330

 

City of New York, GO, Series A-1, 5.00%,
8/01/35 (a)

 

 

400

 

 

414,012

 

Hudson Yards Infrastructure Corp., RB,
Series A:

 

 

 

 

 

 

 

5.00%, 2/15/47

 

 

5,000

 

 

4,573,000

 

(FGIC), 5.00%, 2/15/47

 

 

1,000

 

 

914,600

 

Long Island Power Authority, Refunding
RB, Series A, 5.75%, 4/01/39

 

 

2,475

 

 

2,657,061

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

American Airlines Inc., JFK
International Airport, AMT,
7.63%, 8/01/25 (g)

 

 

2,600

 

 

2,676,050

 

Queens Baseball Stadium, PILOT
(AGC), 6.50%, 1/01/46

 

 

1,100

 

 

1,170,367

 

New York Liberty Development Corp.,
Refunding RB, Second Priority, Bank
of America Tower at One Bryant Park
Project, 6.38%, 7/15/49

 

 

1,250

 

 

1,285,712

 

New York State Dormitory Authority,
RB, Series A:

 

 

 

 

 

 

 

Rochester Institute of
Technology, 6.00%, 7/01/33

 

 

1,625

 

 

1,761,500

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

New York State Dormitory Authority,
RB Series A (concluded):

 

 

 

 

 

 

 

University Rochester, 4.92%,
7/01/39 (c)

 

$

1,000

 

$

880,040

 

 

 

 

 

 

 

16,513,672

 

North Carolina — 5.2%

 

 

 

 

 

 

 

City of Charlotte North Carolina,
Refunding RB, Series A, 5.50%,
7/01/34

 

 

325

 

 

341,101

 

Gaston County Industrial Facilities &
Pollution Control Financing Authority
North Carolina, RB, Exempt Facilities,
National Gypsum Co. Project, 5.75%,
8/01/35

 

 

2,425

 

 

1,848,796

 

North Carolina Capital Facilities Finance
Agency, RB, Duke Energy Carolinas,
Series B, 4.38%, 10/01/31

 

 

3,775

 

 

3,611,278

 

North Carolina Medical Care
Commission, RB, Series A:

 

 

 

 

 

 

 

Novant Health Obligation,
4.75%, 11/01/43

 

 

9,900

 

 

8,415,693

 

WakeMed, (AGC), 5.88%, 10/01/38

 

 

1,000

 

 

1,027,650

 

North Carolina Medical Care
Commission, Refunding RB:

 

 

 

 

 

 

 

Caromont Health (AGC), 4.63%,
2/15/35

 

 

1,400

 

 

1,342,376

 

University Health System,
Series D, 6.25%, 12/01/33

 

 

1,750

 

 

1,896,265

 

 

 

 

 

 

 

18,483,159

 

Ohio — 2.8%

 

 

 

 

 

 

 

County of Cuyahoga Ohio, Refunding RB,
Series A, 6.00%, 1/01/21

 

 

5,000

 

 

5,324,400

 

County of Hancock Ohio, Refunding RB,
Blanchard Valley Regional Health
Center, 5.75%, 12/01/26

 

 

1,450

 

 

1,500,532

 

State of Ohio, Refunding RB, Kenyon
College Project, 5.00%, 7/01/41

 

 

3,345

 

 

3,283,720

 

 

 

 

 

 

 

10,108,652

 

Oklahoma — 0.8%

 

 

 

 

 

 

 

Tulsa Airports Improvement Trust, RB,
Series A, Mandatory Put Bonds, AMT,
7.75%, 6/01/35

 

 

2,900

 

 

2,996,860

 

Oregon — 0.8%

 

 

 

 

 

 

 

Oregon Health & Science University, RB,
Series A, 5.75%, 7/01/39

 

 

1,250

 

 

1,315,662

 

Oregon State Facilities Authority,
Refunding RB, Limited College Project,
Series A:

 

 

 

 

 

 

 

5.00%, 10/01/34

 

 

1,150

 

 

1,116,133

 

5.25%, 10/01/40

 

 

500

 

 

489,725

 

 

 

 

 

 

 

2,921,520

 

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JULY 31, 2011

4


 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Pennsylvania — 4.1%

 

 

 

 

 

 

 

Delaware River Port Authority, RB:

 

 

 

 

 

 

 

Port District Project, Series B
(AGM), 5.70%, 1/01/22

 

$

2,000

 

$

2,003,300

 

Series D (AGM), 5.00%, 1/01/40

 

 

3,640

 

 

3,654,742

 

McKeesport Area School District, GO,
CAB (FGIC) (b):

 

 

 

 

 

 

 

5.53%, 10/01/31

 

 

2,435

 

 

740,362

 

5.53%, 10/01/31 (d)

 

 

870

 

 

349,670

 

Pennsylvania Economic Development
Financing Authority, RB:

 

 

 

 

 

 

 

Amtrak Project, Series A, AMT,
6.25%, 11/01/31

 

 

2,000

 

 

2,009,720

 

Amtrak Project, Series A, AMT,
6.38%, 11/01/41

 

 

3,100

 

 

3,111,501

 

Aqua Pennsylvania Inc.
Project, Series B, 4.50%,
12/01/42

 

 

3,000

 

 

2,845,410

 

 

 

 

 

 

 

14,714,705

 

Puerto Rico — 0.7%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 5.75%,
8/01/37

 

 

1,500

 

 

1,537,665

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (NPFGC),
5.74%, 8/01/41 (b)

 

 

7,500

 

 

1,070,325

 

 

 

 

 

 

 

2,607,990

 

Rhode Island — 1.3%

 

 

 

 

 

 

 

Rhode Island Health & Educational
Building Corp., RB, Hospital Financing,
LifeSpan Obligation, Series A (AGC),
7.00%, 5/15/39

 

 

3,000

 

 

3,371,970

 

State of Rhode Island, COP, Series C,
School for the Deaf (AGC), 5.38%,
4/01/28

 

 

1,330

 

 

1,412,686

 

 

 

 

 

 

 

4,784,656

 

South Carolina — 3.1%

 

 

 

 

 

 

 

South Carolina Jobs-EDA, Refunding RB:

 

 

 

 

 

 

 

Palmetto Health Alliance,
Series A, 6.25%, 8/01/31

 

 

2,185

 

 

2,206,238

 

Palmetto Health, Series C,
6.88%, 8/01/13 (d)

 

 

3,560

 

 

4,012,476

 

South Carolina State Housing Finance &
Development Authority, Refunding RB,
Series A-2, AMT (AMBAC), 5.15%,
7/01/37

 

 

4,975

 

 

4,897,838

 

 

 

 

 

 

 

11,116,552

 

Tennessee — 0.6%

 

 

 

 

 

 

 

Memphis-Shelby County Sports Authority
Inc., Refunding RB, Memphis Arena
Project, Series A:

 

 

 

 

 

 

 

5.25%, 11/01/27

 

 

1,135

 

 

1,178,800

 

5.38%, 11/01/28

 

 

1,000

 

 

1,038,730

 

 

 

 

 

 

 

2,217,530

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Texas — 5.5%

 

 

 

 

 

 

 

Harris County Health Facilities
Development Corp., Refunding RB,
Memorial Hermann Healthcare
System, Series B:

 

 

 

 

 

 

 

7.13%, 12/01/31

 

$

1,000

 

$

1,113,530

 

7.25%, 12/01/35

 

 

2,650

 

 

2,935,087

 

Harris County-Houston Sports Authority,
Refunding RB, CAB, Senior Lien,
Series A (NPFGC), 6.18%,
11/15/38 (b)

 

 

5,000

 

 

717,650

 

Love Field Airport Modernization Corp.,
RB, Southwest Airlines Co. Project,
5.25%, 11/01/40

 

 

3,800

 

 

3,596,320

 

Lower Colorado River Authority,
Refunding RB (NPFGC) (d):

 

 

 

 

 

 

 

5.00%, 5/15/13

 

 

20

 

 

21,625

 

Series A, 5.00%, 5/15/13

 

 

5

 

 

5,406

 

Matagorda County Navigation District
No. 1 Texas, Refunding RB, Central
Power & Light Co. Project, Series A,
6.30%, 11/01/29

 

 

2,200

 

 

2,321,044

 

Texas Private Activity Bond Surface
Transportation Corp., RB, Senior Lien,
LBJ Infrastructure Group LLC, LBJ
Freeway Managed Lanes Project,
7.00%, 6/30/40

 

 

3,000

 

 

3,189,780

 

Texas State Turnpike Authority, RB
(AMBAC):

 

 

 

 

 

 

 

CAB, 6.05%, 8/15/31 (b)

 

 

15,000

 

 

4,402,800

 

First Tier, Series A, 5.00%, 8/15/42

 

 

1,250

 

 

1,143,575

 

 

 

 

 

 

 

19,446,817

 

Vermont — 0.7%

 

 

 

 

 

 

 

Vermont Educational & Health Buildings
Financing Agency, RB, Hospital,
Fletcher Allen Health, Series A, 4.75%,
12/01/36

 

 

3,000

 

 

2,570,070

 

Virginia — 0.3%

 

 

 

 

 

 

 

Henrico County EDA, RB, Bon Secours
Health, Series B-1 (AGC), 4.50%,
11/01/42

 

 

1,285

 

 

1,166,921

 

Washington — 0.6%

 

 

 

 

 

 

 

Washington Health Care Facilities
Authority, RB, MultiCare Health System,
Series B (AGC), 6.00%, 8/15/39

 

 

2,100

 

 

2,229,633

 

Wisconsin — 0.9%

 

 

 

 

 

 

 

Wisconsin Health & Educational
Facilities Authority, RB, Aurora Health
Care, 6.40%, 4/15/33

 

 

3,220

 

 

3,270,039

 

Wyoming — 0.5%

 

 

 

 

 

 

 

County of Sweetwater Wyoming,
Refunding RB, Idaho Power Co.
Project, 5.25%, 7/15/26

 

 

1,800

 

 

1,906,596

 

Total Municipal Bonds – 95.4%

 

 

 

 

 

340,192,243

 

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JULY 31, 2011

5


 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond (TOB) Trusts (h)

 

Par
(000)

 

Value

 

Colorado — 1.4%

 

 

 

 

 

 

 

Colorado Health Facilities Authority, RB,
Catholic Health, Series C-7 (AGM),
5.00%, 9/01/36

 

$

5,250

 

$

5,220,023

 

Massachusetts — 0.9%

 

 

 

 

 

 

 

Massachusetts Water Resources
Authority, Refunding RB, General,
Series A, 5.00%, 8/01/41

 

 

3,070

 

 

3,127,102

 

New York — 2.6%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Fiscal 2009, Series A, 5.75%,
6/15/40

 

 

690

 

 

758,288

 

Series FF-2, 5.50%, 6/15/40

 

 

810

 

 

866,281

 

New York City Municipal Water Finance
Authority, Refunding RB, Series A,
4.75%, 6/15/30

 

 

4,000

 

 

4,113,360

 

New York State Dormitory Authority, RB,
New York University, Series A, 5.00%,
7/01/38

 

 

3,359

 

 

3,419,892

 

 

 

 

 

 

 

9,157,821

 

Ohio — 1.2%

 

 

 

 

 

 

 

County of Montgomery Ohio, RB,
Catholic Health, Series C-1 (AGM),
5.00%, 10/01/41

 

 

1,740

 

 

1,676,090

 

Ohio Higher Educational Facility
Commission, Refunding RB, Hospital,
Cleveland Clinic Health, Series A,
5.25%, 1/01/33

 

 

2,600

 

 

2,655,250

 

 

 

 

 

 

 

4,331,340

 

Total Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts – 6.1%

 

 

 

 

 

21,836,286

 

Total Long-Term Investments
(Cost – $358,888,487) – 101.5%

 

 

 

 

 

362,028,529

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FFI Institutional Tax-Exempt Fund,
0.01% (i)(j)

 

 

3,952,758

 

 

3,952,758

 

Total Short-Term Securities
(Cost – $3,952,758) – 1.1%

 

 

 

 

 

3,952,758

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value

 

Total Investments
(Cost – $362,841,245*) – 102.6%

 

 

 

 

$

365,981,287

 

Other Assets Less Liabilities – 35.8%

 

 

 

 

 

127,821,544

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (3.1)%

 

 

 

 

 

(11,012,355

)

AMPs Shares, at Redemption Value – (35.3)%

 

 

 

 

 

(126,026,660

)

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

356,763,816

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of July 31, 2011, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate Cost

 

$

351,526,277

 

Gross unrealized appreciation

 

$

14,553,320

 

Gross unrealized depreciation

 

 

(11,106,954

)

Net unrealized appreciation

 

$

3,446,366

 

 

 

(a)

When-issued security. Unsettled when-issued transactions were as follows:

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

Citigroup N.A.

 

$

414,012

 

$

1,008

 

Bank of America N.A.

 

$

987,930

 

$

3,970

 

 

 

(b)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

(c)

Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date.

 

(d)

US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

(e)

Issuer filed for bankruptcy and/or is in default of interest payments.

 

(f)

Non-income producing security.

 

(g)

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

 

(h)

Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

(i)

Investments in companies considered to be an affiliate of the Trust during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
April 30, 2011

 

Net
Activity

 

Shares
Held at
July 31, 2011

 

Income

 

FFI Institutional Tax-Exempt Fund

 

 

1,084,525

 

 

2,868,233

 

 

3,952,758

 

$

718

 

 

 

(j)

Represents the current yield as of report date.

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JULY 31, 2011

6


 

 

 

 

Schedule of Investments (concluded)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

 

 

•

Financial futures contracts sold as of July 31, 2011 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Depreciation

 

80

 

30-Year U.S.
Treasury
Bond

 

Chicago
Board
of Trade

 

September 2011

 

$

9,965,473

 

$

(284,527

)

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are categorized in three broad levels for financial reporting purposes as follows:

 

 

 

 

•

Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

 

The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and does not necessarily correspond to the Trust’s perceived risk of investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its annual report.

 

The following tables summarize the inputs used as of July 31, 2011 in determining the fair valuation of the Trust’s investments and derivative financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Investments1

 

 

—

 

$

362,028,529

 

 

—

 

$

362,028,529

 

Short-Term Securities

 

$

3,952,758

 

 

—

 

 

—

 

 

3,952,758

 

Total

 

$

3,952,758

 

$

362,028,529

 

 

—

 

$

365,981,287

 

 

 

1

See above Schedule of Investments for values in each state or political subdivision.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Derivative Financial Instruments2

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

(284,527

)

 

—

 

 

—

 

$

(284,527

)

 

 

2

Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JULY 31, 2011

7

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 Investment Quality Municipal Trust, Inc.

 

 

 

 By: /s/ John M. Perlowski

 

 

 

John M. Perlowski 

 

 

Chief Executive Officer (principal executive officer) of 

 

 

BlackRock Investment Quality Municipal Trust, Inc. 

 

 

 

Date: September 26, 2011 

 

 

 

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/ John M. Perlowski

 

 

 

John M. Perlowski 

 

 

Chief Executive Officer (principal executive officer) of 

 

 

BlackRock Investment Quality Municipal Trust, Inc. 

 

 

 

Date: September 26, 2011 

 

 

 

 By: /s/ Neal J. Andrews

 

 

 

Neal J. Andrews 

 

 

Chief Financial Officer (principal financial officer) of 

 

 

BlackRock Investment Quality Municipal Trust, Inc. 

 

 

 

 

Date: September 26, 2011