BLACKROCK INCOME TRUST, INC.

Regulatory Filings • Jul 29, 2010

N-Q 1 i00321_bkt-nq.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-05542

Name of Fund: BlackRock Income Trust, Inc. (BKT)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Income Trust, Inc., 55 East 52 nd Street, New York, NY 10055.

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

Date of fiscal year end: 08/31/2010

Date of reporting period: 05/31/2010

Item 1 – Schedule of Investments

insert

Schedule of Investments May 31, 2010 (Unaudited) BlackRock Income Trust, Inc. (BKT) (Percentages shown are based on Net Assets)

Asset-Backed Securities — Chase Issuance Trust, Series 2007-A11, Class A11, 0.23%, 7/16/12 (a)	Par (000) — $ 3,500	$	3,499,362
First Franklin Mortgage Loan Asset Backed Certificates, Series 2005-FF2, Class M2, 0.78%, 3/25/35 (a)	5,890		3,886,876
Freddie Mac Mortgage-Backed Securities, Series T-11, Class A9, 2.30%, 1/25/28 (a)	2,900		2,810,463
GSAA Home Equity Trust, Series 2005-1, Class AF2, 4.32%, 11/25/34 (a)	1,439		1,379,810
Securitized Asset Backed Receivables LLC Trust, Series 2005-OP2, Class M1, 0.77%, 10/25/35 (a)	1,875		775,294
Small Business Administration Participation Certificates, Class 1:
Series
1996-20E, 7.60%, 5/01/16	287		311,509
Series
1996-20G, 7.70%, 7/01/16	286		310,889
Series
1996-20H, 7.25%, 8/01/16	454		494,026
Series
1996-20K, 6.95%, 11/01/16	695		746,145
Series
1997-20C, 7.15%, 3/01/17	287		314,861
Small Business Administration, Series 1, 1.00%, 4/01/15	2,358		23,583
			14,552,818
Interest Only Asset-Backed Securities— 0.3%
Sterling Bank Trust, Series 2004-2, Class Note, 2.08%, 3/30/30 (b)	5,590		393,036
Sterling Coofs Trust, Series 1, 2.36%, 4/15/29	10,024		1,018,062
			1,411,098
Total Asset-Backed Securities – 3.3%			15,963,916
Non-Agency
Mortgage-Backed Securities
Collateralized Mortgage Obligations — 3.3 %
Countrywide Alternative Loan Trust, Series 2005-28CB, Class 1A5, 5.50%, 8/25/35	1,910		1,854,763
Deutsche Alt—A Securities, Inc. Alternate Loan Trust, Series 2006-AR5, Class 22A, 5.50%, 10/25/21	1,470		1,236,030
Homebanc Mortgage Trust, Series 2005-4, Class A1, 0.61%, 10/25/35 (a)	3,572		2,629,036
Non-Agency
Mortgage-Backed Securities	Par (000)	Value
Collateralized Mortgage Obligations (concluded)
JPMorgan Mortgage Trust, Series 2006-A7, Class 2A2, 5.76%, 1/25/37 (a)	$ 728	$	558,244
Kidder Peabody Acceptance Corp., Series 1993-1, Class A6, 15.98%, 8/25/23 (a)	96		107,396
Residential Funding Securities LLC, Series 2003-RM2, Class AI5, 8.50%, 5/25/33	5,340		5,468,950
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-11, Class A, 3.27%, 8/25/34 (a)	1,583		1,592,867
WaMu Mortgage Pass-Through Certificates, Series 2006-AR1, Class 2A1C, 1.53%, 1/25/46 (a)	5,715		2,350,312
			15,797,598
Commercial Mortgage-Backed Securities — 4.7%
Credit Suisse Mortgage Capital Certificates:
Series
2006-C5, Class A2, 5.25%, 12/15/39 (c)	14,000		14,310,137
Series
2007-C2, Class A3, 5.54%, 1/15/49 (a)	2,420		2,209,483
First Union-Lehman Brothers Commercial Mortgage, Series 1997-C2, Class D, 7.12%, 11/18/29	3,500		3,757,536
Wachovia Bank Commercial Mortgage Trust, Series 2007-C32, Class A2, 5.92%, 6/15/49 (a)	2,200		2,257,465
			22,534,621
Interest
Only Collateralized Mortgage Obligations — 1.5%
Bank of America Mortgage Securities Inc., Series 2003-3, Class 1AIO, 0.29%, 5/25/18 (a)	130,002		829,815
CitiMortgage Alternative Loan Trust, Series 2007-A5, Class 1A7, 6.00%, 5/25/37	1,218		138,563
Collateralized Mortgage Obligation Trust, Class R:
Series 40, 0.58%, 4/01/18	189		189
Series
42, 6,000.00%, 10/01/14	—	(d)	1,037
First Boston Mortgage Securities Corp., Series C, Class I-O, 10.97%, 4/25/17	43		7,797
GSMPS Mortgage Loan Trust, Series 1998-5, Class IO, 0.97%, 6/19/27 (a)(b)	5,668		113,352

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:
LIBOR	London InterBank Offered
Rate
STRIPS	Separately Traded
Registered Interest and Principal Securities
TALF	Term Asset-Backed
Securities Loan Facility

BLACKROCK INCOME TRUST, INC. MAY 31, 2010 1

Schedule of Investments (continued) BlackRock Income Trust, Inc. (BKT) (Percentages shown are based on Net Assets)

| Non-Agency Mortgage-Backed
Securities | Par (000) | Value |
| --- | --- | --- |
| Interest
Only Collateralized Mortgage Obligations (concluded) | | |
| IndyMac INDX Mortgage Loan Trust, Series 2006-AR33, Class 4AX, 0.17%, 1/25/37 | $ 126,563 | $ 554,347 |
| Kidder Peabody Mortgage Assets Trust, Series B, Class A2, 9.50%, 4/22/18 | 33 | 6,366 |
| MASTR Adjustable Rate Mortgages Trust, Series 2004-3, Class 3AX, 0.98%, 4/25/34 | 14,799 | 166,489 |
| MASTR Alternative Loans Trust, Series 2003-9, Class 15X2, 6.00%, 1/25/19 | 759 | 104,595 |
| Morgan Stanley Mortgage Loan Trust, Series 2004-3, Class 1AX, 5.00%, 5/25/19 | 839 | 50,353 |
| Sequoia Mortgage Trust, Series 2005-2, Class XA, 1.00%, 3/20/35 (a) | 40,695 | 610,428 |
| Structured Adjustable Rate Mortgage Loan Trust: | | |
| Series
2005-18, Class 7AX, 5.50%, 9/25/35 (a) | 2,074 | 236,542 |
| Series
2005-20, Class 3AX, 5.50%, 10/25/35 | 2,650 | 318,042 |
| Series
2006-2, Class 4AX, 5.50%, 3/25/36 (a) | 5,085 | 649,974 |
| Series
2006-7, Class 3AS, 2.37%, 8/25/36 (a) | 32,365 | 3,489,286 |
| Vendee Mortgage Trust, Series 1999-2, Class 1IO, 0.05%, 5/15/29 (a) | 65,097 | 110,952 |
| | | 7,388,127 |
| Interest
Only Commercial Mortgage-Backed Securities — 0.1% | | |
| CS First Boston Mortgage Securities Corp., Series 1997-C1, Class AX, 1.67%, 6/20/29 (a)(b) | 4,357 | 150,674 |
| Commercial Mortgage Acceptance Corp., Series 1997-ML1, Class IO, 0.70%, 12/15/30 (a) | 11,712 | 289,424 |
| Morgan Stanley Capital I, Series 1997-HF1, Class X, 3.44%, 7/15/29 (a)(b) | 37 | 2 |
| | | 440,100 |
| Principal
Only Collateralized Mortgage Obligations — 1.1% | | |
| Countrywide Home Loan Mortgage Pass- Through Trust, Class PO: | | |
| Series
2003-26, 0.00% 8/25/33 | 2,940 | 2,040,526 |
| Series
2003-J4, 0.00%, 6/25/33 | 563 | 510,235 |
| Non-Agency
Mortgage-Backed Securities | Par (000) | Value |
| Principal Only Collateralized Mortgage Obligations (concluded) | | |
| Countrywide Home Loan Mortgage Pass- Through Trust, Class PO (concluded): | | |
| Series
2003-J5, 0.00%, 7/25/33 | $ 926 | $ 690,440 |
| Series
2003-J8, 0.00%, 9/25/23 | 764 | 552,419 |
| Drexel Burnham Lambert CMO Trust, Class 1: | | |
| Series K, 0.00%, 9/23/17 | 13 | 13,056 |
| Series V, 0.00%, 9/01/18 | 87 | 82,440 |
| MASTR Asset Securitization Trust, Series 2004-3, Class 4A15, 0.00%, 3/25/34 | 247 | 169,059 |
| Residential Asset Securitization Trust, Series 2005-A15, Class 1A8, 2/25/36 | 983 | 614,559 |
| Structured Mortgage Asset Residential Trust, Series 1993- 3C, Class CX, 0.00%, 4/25/24 | 8 | 5,320 |
| Washington Mutual Alternative Mortgage Pass-Through Certificates, Series 2005-9, Class CP, 0.00%, 11/25/35 | 700 | 484,761 |
| | | 5,162,815 |
| Total Non-Agency Mortgage-Backed Securities – 10.7% | | 51,323,261 |
| U.S.
Government Sponsored Agency Securities | | |
| Agency Obligations — 3.1% | | |
| Federal Housing Administration: | | |
| General
Motors Acceptance Corp. Projects, Series 56, 7.43%, 11/01/22 | 237 | 234,486 |
| Merrill
Projects, Series 54, 7.43%, 5/15/23 | 2 | 2,113 |
| Reilly
Project, Series 41, 8.28%, 3/01/20 | 636 | 629,800 |
| USGI
Projects, Series 87, 7.43%, 12/01/22 | 71 | 70,071 |
| USGI
Projects, Series 99, 7.43%, 6/01/21 | 4,778 | 4,730,336 |
| USGI
Projects, Series 99, 7.43%, 10/01/23 | 174 | 171,955 |
| Overseas Private Investment Corp.: | | |
| 4.09%, 5/29/12 | 359 | 364,175 |
| 4.68%, 5/29/12 | 434 | 438,954 |
| 4.87%, 5/29/12 | 3,302 | 3,307,077 |

2 BLACKROCK INCOME TRUST, INC. MAY 31, 2010

Schedule of Investments (continued) BlackRock Income Trust, Inc. (BKT) (Percentages shown are based on Net Assets)

U.S. Government Sponsored Agency Securities	Par (000)
Agency Obligations (concluded)
Resolution Funding Corp., 9.88% 4/15/30 (e)	$ 13,000	$	5,117,788
			15,066,755
Collateralized Mortgage Obligations — 14.8%
Fannie Mae Mortgage-Backed Securities:
Series
1991-38, Class F, 8.33%, 4/25/21 (a)	12		12,175
Series
1991-38, Class SA, 10.19%, 4/25/21 (a)	12		12,342
Series
1991-46, Class S, 1.40%, 5/25/21 (a)	116		6,137
Series
1991-87, Class S, 25.69%, 8/25/21 (a)	73		101,430
Series
1993-247, Class SN, 10.00%, 12/25/23 (a)	540		644,392
Series
2003-32, Class VT, 6.00%, 9/25/15	5,126		5,362,740
Series
2003-135, Class PB, 6.00%, 1/25/34	12,264		13,785,798
Series
2004-28, Class PB, 6.00%, 8/25/28	84		83,581
Series
2004-29, Class HC, 7.50%, 7/25/30	1,243		1,323,760
Series
2004-31, Class ZG, 7.50%, 5/25/34	2,889		3,412,163
Series
2005-68, Class PC, 5.50%, 7/25/35	1,305		1,414,659
Series
2005-73, Class DS, 16.66%, 8/25/35 (a)	3,791		4,137,262
Series
2006-2, Class KP, 0.00%, 2/25/35 (a)	803		719,415
Series
G-7, Class S, 116.20%, 3/25/21 (a)	—	(d)	4,613
Series
G-17, Class S, 0.58%, 6/25/21 (a)	333		6,194
Series
G-33, Class PV, 1.08%, 10/25/21	395		9,202
Series
G-49, Class S, 5.55%, 12/25/21 (a)	—	(d)	2,405
Freddie Mac Mortgage-Backed Securities:
Series
19, Class F, 8.50%, 3/15/20	116		126,671
Series
19, Class R, 9.76%, 3/15/20 (a)	11		1,841
Series
40, Class K, 6.50%, 8/17/24	452		498,445
Series
75, Class R, 9.50%, 1/15/21	—	(d)	3
Series
75, Class RS, 21.33%, 1/15/21 (a)	—	(d)	3
Series
173, Class R, 9.12%, 11/15/21	17		17
Series
173, Class RS, 9.12%, 11/15/21 (a)	—	(d)	17
U.S. Government Sponsored Agency Securities	Par (000)	Value
Collateralized Mortgage Obligations (concluded)
Freddie Mac Mortgage-Backed Securities (concluded):
Series
192, Class U, 1.01%, 2/15/22 (a)	$ 3	$	64
Series
1057, Class J, 1.01%, 3/15/21	109		2,743
Series
1160, Class F, 38.57%, 10/15/21 (a)	24		43,069
Series
1961, Class H, 6.50%, 5/15/12	36		36,461
Series
2218, Class Z, 8.50%, 3/15/30	6,506		7,325,737
Series
2542, Class UC, 6.00%, 12/15/22	10,200		11,092,500
Series
2758, Class KV, 5.50%, 5/15/23	10,160		11,224,789
Series
2765, Class UA, 4.00%, 3/15/11	666		677,238
Series
2861, Class AX, 10.29%, 9/15/34 (a)	360		393,292
Series
2927, Class BZ, 5.50%, 2/15/35	2,768		3,056,612
Ginnie Mae Mortgage-Backed Securities:
Series
1996-5, Class Z, 7.00%, 5/16/26	681		725,476
Series
2001-33, Class PB, 6.50%, 7/20/31	1,112		1,190,175
Series
2004-89, Class PE, 6.00%, 10/20/34	3,392		3,754,033
			71,187,454
Federal
Deposit Insurance Corporation Guaranteed — 0.8%
Citigroup Funding, Inc., 1.88%, 10/22/12 (f)	3,800		3,849,601
Interest
Only Collateralized Mortgage Obligations — 5.5%
Fannie Mae Mortgage-Backed Securities:
Series
7, Class 2, 8.50%, 4/01/17	6		972
Series
89, Class 2, 8.00%, 10/01/18	11		1,447
Series
94, Class 2, 9.50%, 8/01/21	4		888
Series
348, Class 25, 4.50%, 1/01/19	12,957		1,416,812
Series
1990-123, Class M, 1,009.50%, 10/25/20 (a)	—	(d)	669
Series
1990-136, Class S, 0.02%, 11/25/20 (a)	17,693		25,591
Series
1991-38, Class N, 1,008.50%, 4/25/21	—	(d)	36
Series
1991-99, Class L, 930.00%, 8/25/21	—	(d)	3,466

BLACKROCK INCOME TRUST, INC. MAY 31, 2010 3

Schedule of Investments (continued) BlackRock Income Trust, Inc. (BKT) (Percentages shown are based on Net Assets)

U.S. Government Sponsored Agency Securities	Par (000)		Value
Interest
Only Collateralized Mortgage Obligations (continued)
Fannie Mae Mortgage-Backed Securities (concluded):
Series
1991-139, Class PT, 648.35%, 10/25/21	$ —	(d)	$ 4,948
Series
1993-199, Class SB, 2.63%, 10/25/23 (a)	1,187		125,779
Series
1996-68, Class SC, 2.26%, 1/25/24 (a)	812		65,267
Series
1997-50, Class SI, 1.20%, 4/25/23 (a)	442		14,040
Series
1997-90, Class M, 6.00%, 1/25/28	8,073		1,135,824
Series
1999-W4, Class IO, 6.50%, 12/25/28	435		86,468
Series
2003-122, Class IC, 5.00%, 9/25/18	586		2,897
Series
2003-135, Class SE, 7.52%, 8/25/33 (a)	25,302		2,564,627
Series
2005-43, Class IC, 6.00%, 3/25/34	70		548
Series
2006-58, Class SI, 6.31%, 7/25/36 (a)	11,785		1,587,026
Series
2006-70, Class JI, 6.37%, 6/25/36 (a)	25,572		3,871,925
Series
2009-3, Class JI, 6.00%, 1/25/49	16,955		2,240,423
Series
2010-2, Class SG, 6.22%, 10/25/39 (a)	21,291		1,899,122
Series
G-10, Class S, 575.46%, 5/25/21 (a)	1		15,896
Series
G-12, Class S, 608.14%, 5/25/21 (a)	1		10,950
Series
G-50, Class G, 1,158.63%, 12/25/21	—	(d)	1,709
Series
G92-5, Class H, 9.00%, 1/25/22	119		19,958
Series
G92-12, Class C, 1,016.90%, 2/25/22	—	(d)	7,835
Series
G92-60, Class SB, 1.60%, 10/25/22 (a)	337		13,745
Freddie Mac Mortgage-Backed Securities:
Series
176, Class M, 1,010.00%, 7/15/21	—	(d)	848
Series
200, Class R, 98,522.81%, 12/15/22 (a)	—	(d)	17
Series
1043, Class H, 0.02%, 2/15/21 (a)	9,626		17,518
Series
1054, Class I, 435.32%, 3/15/21 (a)	0.00		1,513
Series
1056, Class KD, 1.08%, 3/15/21	83		2,130
Series
1148, Class E, 592.55%, 10/15/21 (a)	—	(d)	5,967
U.S. Government Sponsored Agency Securities	Par (000)		Value
Interest
Only Collateralized Mortgage Obligations (concluded)
Freddie Mac Mortgage-Backed Securities (concluded):
Series
1179, Class O, 1,009.39%, 11/15/21	$ —	(d)	$ 4
Series
1914, Class PC, 0.75%, 12/15/11	532		2,085
Series
2545, Class NI, 5.50%, 3/15/22	702		33,720
Series
2559, Class IO, 5.00%, 8/15/30 (a)	279		3,256
Series
2611, Class QI, 5.50%, 9/15/32	6,121		735,262
Series
2687, Class IL, 5.00%, 9/15/18	538		2,601
Series
2694, Class LI, 4.50%, 7/15/19	654		13,994
Series
2949, Class IO, 5.50%, 3/15/35	1,060		49,263
Series
3153, Class SI, 6.36%, 5/15/36 (a)	13,755		2,023,106
Ginnie Mae Mortgage-Backed Securities (a):
Series
2005-31, Class SA, 5.92%, 4/16/35	24,863		3,038,797
Series
2009-33, Class SN, 6.04%, 5/20/39	15,330		1,385,776
Series
2009-64, Class SY, 5.84%, 8/20/39	12,119		1,169,194
Series
2009-88, Class ES, 6.12%, 10/16/39	12,479		1,242,191
Series
2009-92, Class SC, 5.86%, 10/16/39	15,766		1,587,247
			26,433,357
Interest Only Mortgage-Backed Securities — 0.3%
Freddie Mac Mortgage-Backed Securities, 2.73%, 1/01/35 (a)	211		218,964
Ginnie Mae Mortgage-Backed Securities (a):
Series
2006-49, Class SA, 6.22%, 2/20/36	6,440		543,025
Series
2007-23, Class ST, 5.96%, 4/20/37	5,590		568,847
			1,330,836
Mortgage-Backed Securities — 139.9%
Fannie Mae Mortgage-Backed Securities:
4.00%, 7/15/40 (g)	2,500		2,471,094
4.50%, 7/01/39 - 7/15/40 (f)(g)	267,270		272,917,170
5.00%, 1/01/23 - 7/15/40 (f)(g)	144,929		151,450,303
5.50%, 6/15/25 - 7/15/40 (g)	122,900		130,686,326
5.97%, 8/01/16	3,099		3,484,045
6.00%, 6/15/40 (g)	20,800		22,402,245
6.50%, 7/15/40 (g)	41,300		44,810,500
7.50%, 2/01/22	—	(d)	160
9.50%, 1/01/19 - 9/01/19	3		3,677

4 BLACKROCK INCOME TRUST, INC. MAY 31, 2010

Schedule of Investments (continued) BlackRock Income Trust, Inc. (BKT) (Percentages shown are based on Net Assets)

U.S. Government Sponsored Agency Securities	Par (000)	Value
Mortgage-Backed
Securities (concluded)
Freddie
Mac Mortgage-Backed Securities:
4.51%, 11/01/17 (a)	$ 21	$ 21,738
4.98%, 10/01/34 (a)	549	572,827
5.00%, 2/01/22 - 4/01/22 (f)(g)	1,928	2,056,525
5.50%, 6/15/25 (g)	7,000	7,517,342
6.50%, 6/15/40 (g)	100	108,922
9.00%, 9/01/20	73	80,830
Ginnie Mae Mortgage-Backed
Securities:
5.00%, 6/15/40 (g)	23,900	25,188,353
6.50%, 6/15/40 (g)	8,500	9,270,312
7.50%, 8/15/21 - 12/15/23	313	357,157
8.00%, 10/15/22 - 2/15/29	97	113,024
9.00%, 6/15/18 - 9/15/21	9	11,047
		673,523,597
Principal
Only Collateralized Mortgage Obligations — 0.6%
Fannie Mae Mortgage-Backed
Securities:
Series
203, Class 1, 0.00%, 2/01/23	26	23,918
Series
228, Class 1, 0.00%, 6/01/23	17	16,024
Series
1991-7, Class J, 0.00%, 2/25/21	30	26,544
Series
1993-51, Class E, 0.00%, 2/25/23	86	76,111
Series
1993-70, Class A, 0.00%, 5/25/23	14	12,590
Series
1999-W4, Class PO, 0.00%, 2/25/29	224	191,312
Series
2002-13, Class PR, 0.00%, 3/25/32	518	446,952
Series
G93-2, Class KB, 0.00%, 1/25/23	201	186,754
Freddie Mac Mortgage-Backed
Securities:
Series
1418, Class M, 0.00%, 11/15/22	93	82,587
Series
1571, Class G, 0.00%, 8/15/23	539	481,748
Series
1691, Class B, 0.00%, 3/15/24	1,265	1,143,402
Series
1739, Class B, 0.00%, 2/15/24	77	74,989
Series
T-8, Class A10, 0.00%, 11/15/28	160	142,728
		2,905,659
Total U.S.
Government Sponsored Agency Securities – 165.0%		794,297,259
U.S. Treasury Obligations
U.S. Treasury Bonds:
8.75%, 8/15/20 (h)	750	1,095,000
8.00%, 11/15/21 (f)	2,750	3,889,531
U.S. Treasury Obligations	Par (000)	Value
U.S. Treasury Notes:
3.63%, 2/15/20 (f)	$ 20,900	$ 21,437,193
4.50%, 8/15/39	330	345,159
4.63%, 2/15/40 (f)(h)	5,550	5,926,357
U.S. Treasury STRIPS, 0.00%, 11/15/24 (a)(f)(h)	40,000	21,915,280
Total U.S.
Treasury Obligations – 11.3%		54,608,520
Total
Long-Term Investments (Cost – $907,677,973) – 190.3%		916,192,956
Short-Term Securities	Shares
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.16% (i)(j)	72,771,402	72,771,402
Total
Short-Term Securities (Cost – $72,771,402) – 15.1%		72,771,402
Options Purchased	Contracts
(k )
Over-the-Counter
Call Swaptions Purchased — 0.2%
Receive a fixed rate of 5.47% and pay a floating rate based on 3-month LIBOR, expires 5/19/12, Broker Bank of America NA	6	786,234
Over-the-Counter
Put Swaptions Purchased — 0.0%
Receive a fixed rate of 5.47% and pay a floating rate based on 3- month LIBOR, expires 5/19/12, Broker Bank of America NA	6	120,373
Total
Options Purchased (Cost – $492,280) – 0.2%		906,607
Total
Investments Before TBA Sale Commitments and Outstanding Options Written (Cost – $980,941,655*) – 205.6%		989,870,965
TBA Sale Commitments (g)	Par (000 )
Fannie Mae Mortgage-Backed Securities:
4.50%, 7/01/39 – 7/15/40	$ 128,900	(131,518,217	)
5.00%, 1/01/23 – 7/15/40	4,500	(4,778,437	)

BLACKROCK INCOME TRUST, INC. MAY 31, 2010 5

Schedule of Investments (continued)
(Percentages shown are based on Net Assets)

| TBA Sale
Commitments (g) | Par (000) | Value | |
| --- | --- | --- | --- |
| Freddie Mac Mortgage-Backed Securities, 5.00%, 2/01/22 – 4/01/22 | $ 1,900 | $ (2,018,750 | ) |
| Total TBA Sale Commitments (Proceeds – $148,015,402) – (28.7)% | | (138,315,404 | ) |
| Options
Written | Contracts (k) | | |
| Over-the-Counter Call Swaptions Written — (0.2)% | | | |
| Pay a fixed rate of 3.43% and receive a floating rate based on 3-month LIBOR, expires 3/19/11, Broker JPMorgan Chase Bank NA | 7 | (169,281 | ) |
| Pay a fixed rate of 5.33% and receive a floating rate based on 3-month LIBOR, expires 7/20/13, Broker JPMorgan Chase Bank NA | 11 | (770,618 | ) |
| | | (939,899 | ) |
| Over-the-Counter Put Swaptions Written — (0.1)% | | | |
| Receive a fixed rate of 3.43% and pay a floating rate based on 3- month LIBOR, expires 3/19/11, Broker JPMorgan Chase Bank NA | 7 | (350,308 | ) |
| Receive a fixed rate of 5.33% and pay a floating rate based on 3- month LIBOR, expires 7/20/13, Broker JPMorgan Chase Bank NA | 11 | (218,359 | ) |
| | | (568,667 | ) |
| Total Options Written (Premiums Received – $1,358,915) – (0.3)% | | (1,508,566 | ) |
| Total Investments, Net of TBA Sale Commitments and Outstanding Options Written – 176.6% | | 850,046,995 | |
| Liabilities in Excess of Other Assets – (76.6)% | | (368,754,324 | ) |
| Net Assets – 100.0% | | $ 481,292,671 | |

• The cost and unrealized appreciation (depreciation) of investments as of May 31, 2010, as computed for federal income tax purposes, were as follows:

| Aggregate
cost | $ | |
| --- | --- | --- |
| Gross
unrealized appreciation | $ 31,080,790 | |
| Gross
unrealized depreciation | (22,189,079 | ) |
| Net
unrealized appreciation | $ 8,891,711 | |

| (a) | Variable
rate security. Rate shown is as of report date. |
| --- | --- |
| (b) | Security
exempt from registration under Rule 144A of the Securities Act of 1933. These
securities may be resold in transactions exempt from registration to
qualified institutional investors. |
| (c) | All or a
portion of security has been pledged as collateral in connection with TALF Program. |
| (d) | Amount is
less than $1,000. |
| (e) | Represents a
zero-coupon bond. Rate shown reflects the current yield as of report date. |
| (f) | All or a
portion of security has been pledged as collateral in connection with swaps. |
| (g) | Represents
or includes a to-be-announced (“TBA”) transaction. Unsettled TBA transactions
as of report date were as follows: |

| Counterparty — Bank of
America Securities | Value — $ (60,119,852 | Unrealized Appreciation (Depreciation) — $ (1,018,386 | ) |
| --- | --- | --- | --- |
| Citigroup
Global Markets, Inc. | $ 54,393,609 | $ 101,930 | |
| Credit
Suisse Securities LLC | $ 102,806,213 | $ 1,322,513 | |
| Deutsche
Bank Securities, Inc. | $ 125,990,608 | $ (2,888 | ) |
| Goldman
Sachs & Co. | $ 7,752,469 | $ (14,515 | ) |
| JPMorgan
Chase Securities, Inc. | $ 136,254,171 | $ 2,172,968 | |

| (h) | All or a
portion of security has been pledged as collateral in connection with open
financial futures contracts. |
| --- | --- |
| (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 — BlackRock Liquidity Funds, TempFund, Institutional Class	178,238,591	(105,467,189	)	72,771,402	Income — $ 214,988

| (j) | Represents
the current yield as of report date. |
| --- | --- |
| (k) | One contract
represents a notional amount of $1 million. |

6 BLACKROCK INCOME TRUST, INC. MAY 31, 2010

Schedule of Investments (continued) BlackRock Income Trust, Inc. (BKT)

• Interest rate floors outstanding as of May 31, 2010 were as follows:

	Notional Amount (000)	Value		Unrealized Depreciation
Pay to broker the difference between 3-month LIBOR and a floor of 4.80%
Broker Goldman Sachs Bank USA expires 3/19/11	$ 70,000	$ (2,571,310	)	$ (1,796,643	)
Pay to broker the difference between 3-month LIBOR and a floor of 5.50%
Broker Citibank NA expires 9/17/11	25,000	(1,686,475	)	(1,207,308	)
Total		$ (4,257,785	)	$ (3,003,951	)

• Financial futures contracts purchased as of May 31, 2010 were as follows:

Contracts	Issue	Expiration Date	Notional Value	Unrealized Depreciation
67	5-Year U.S. Treasury Bond	September 2010	$ 7,866,367	$ (49,351	)
83	30-Year U.S. Treasury Bond	September 2010	$ 10,866,995	(175,557	)
Total				$ (224,908	)

• Financial futures contracts sold as of May 31, 2010 were as follows:

Contracts	Issue	Expiration Date	Face Value	Unrealized Appreciation (Depreciation)
84	2-Year U.S. Treasury Bond	September 2010	$ 18,304,943	$ (18,870	)
626	10-Year U.S. Treasury Bond	September 2010	75,016,463	(25,287	)
100	30-Year U.S. Treasury Bond	September 2010	12,400,561	134,936
110	EuroDollar Futures	June 2010	27,378,590	43,590
110	EuroDollar Futures	September 2010	27,325,865	58,240
110	EuroDollar Futures	December 2010	27,250,090	23,715
91	EuroDollar Futures	March 2011	22,477,273	(16,790	)
75	EuroDollar Futures	June 2011	18,455,647	(51,541	)
75	EuroDollar Futures	September 2011	18,393,359	(74,454	)
75	EuroDollar Futures	December 2011	18,332,209	(88,729	)
27	EuroDollar Futures	March 2012	6,600,343	(15,332	)
12	EuroDollar Futures	June 2012	2,927,033	(5,767	)
12	EuroDollar Futures	September 2012	2,918,933	(6,367	)
12	EuroDollar Futures	December 2012	2,910,814	(6,986	)
12	EuroDollar Futures	March 2013	2,904,263	(7,387	)
Total				$ (57,029	)

BLACKROCK INCOME TRUST, INC. MAY 31, 2010 7

Schedule of Investments (continued) BlackRock Income Trust, Inc. (BKT)

• Interest rate swaps outstanding as of May 31, 2010 were as follows:

| Fixed Rate — 4.32% (a) | Floating Rate — 3-month | Counterparty — UBS
AG | Expiration — September | $ 12,000 | $ 118,567 | |
| --- | --- | --- | --- | --- | --- | --- |
| | LIBOR | | 2010 | | | |
| 1.45% (b) | 3-month | JPMorgan | July | $ 20,000 | (126,632 | ) |
| | LIBOR | Chase
Bank NA | 2011 | | | |
| 4.88% (a) | 3-month | UBS
AG | March | $ 25,000 | 2,888,659 | |
| | LIBOR | | 2015 | | | |
| 4.87% (a) | 3-month | Goldman
Sachs | January | $ 5,500 | 657,510 | |
| | LIBOR | Bank
USA | 2016 | | | |
| 2.81% (a) | 3-month | Citibank
NA | February | $ 20,000 | 192,742 | |
| | LIBOR | | 2016 | | | |
| 5.72% (a) | 3-month | JPMorgan | July | $ 5,400 | 917,727 | |
| | LIBOR | Chase
Bank NA | 2016 | | | |
| 5.51% (a) | 3-month | Bank
of | August | $ 159,147 | 26,458,806 | |
| | LIBOR | America
NA | 2017 | | | |
| 5.88% (b) | 3-month | Deutsche | June | $ 31,930 | (5,814,052 | ) |
| | LIBOR | Bank
AG | 2018 | | | |
| 4.55% (b) | 3-month | Citibank
NA | September | $ 98,400 | (10,091,797 | ) |
| | LIBOR | | 2018 | | | |
| 4.31% (b) | 3-month | Deutsche | October | $ 66,000 | (5,618,848 | ) |
| | LIBOR | Bank
AG | 2018 | | | |
| 3.17% (a) | 3-month | Bank
of | March | $ 4,700 | (26,118 | ) |
| | LIBOR | America
NA | 2019 | | | |
| 3.09% (b) | 3-month | Deutsche | March | $ 25,700 | 283,299 | |
| | LIBOR | Bank
AG | 2019 | | | |
| 2.88% (a) | 3-month | Deutsche | April | $ 39,700 | (1,130,017 | ) |
| | LIBOR | Bank
AG | 2019 | | | |
| 3.23% (b) | 3-month | Deutsche | May | $ 2,800 | 6,900 | |
| | LIBOR | Bank
AG | 2019 | | | |
| 3.90% (b) | 3-month | Barclays | June | $ 20,000 | (1,015,225 | ) |
| | LIBOR | Bank
Plc | 2019 | | | |
| 3.55% (b) | 3-month | Deutsche | August | $ 15,000 | (466,544 | ) |
| | LIBOR | Bank
AG | 2019 | | | |
| 5.49% (b) | 3-month | JPMorgan | October | $ 5,400 | (777,519 | ) |
| | LIBOR | Chase
Bank NA | 2019 | | | |
| 3.67% (a) | 3-month | Deutsche | December | $ 4,600 | 128,148 | |
| | LIBOR | Bank
AG | 2019 | | | |
| 5.67% (b) | 3-month | Citigroup
Global | January | $ 12,400 | (1,812,449 | ) |
| | LIBOR | Markets,
Inc. | 2020 | | | |
| 3.88% (a) | 3-month | Morgan | January | $ 7,600 | 346,260 | |
| | LIBOR | Stanley
Capital | 2020 | | | |
| | | Services,
Inc. | | | | |
| 3.71% (b) | 3-month | Deutsche | February | $ 9,200 | (275,914 | ) |
| | LIBOR | Bank
AG | 2020 | | | |
| | | Morgan | | | | |
| 3.73% (a) | 3-month | Stanley
Capital | May | $ 28,000 | 843,032 | |
| | LIBOR | Services,
Inc. | 2020 | | | |
| 5.41% (a) | 3-month | JPMorgan | August | $ 9,565 | 1,761,863 | |
| | LIBOR | Chase
Bank NA | 2022 | | | |
| Total | | | | | $ 7,448,398 | |

| (a) Pays floating interest
rate and receives fixed rate. |
| --- |
| (b) Pays fixed interest
rate and receives floating rate. |

8 BLACKROCK INCOME TRUST, INC. MAY 31, 2010

Schedule of Investments (continued) BlackRock Income Trust, Inc. (BKT)

| • | For Trust compliance
purposes, the Trust’s sector classifications refer to any one or more of the
sector sub-classifications used by one or more widely recognized market
indexes or ratings group indexes and/or as defined by Trust management. This
definition may not apply for purposes of this report, which may combine
sector sub-classifications for reporting ease. | |
| --- | --- | --- |
| • | Fair Value Measurements -
Various inputs are used in determining the fair value of investments, which
are 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) |
| The inputs or methodologies
used for valuing securities are not necessarily an indication of the risk
associated with investing in those securities. For information about the
Trust’s policy regarding valuation of investments and other significant
accounting policies, please refer to the Trust’s most recent financial
statements as contained in its semi-annual report. | | |
| The following tables
summarize the inputs used as of May 31, 2010 in determining the fair
valuation of the Trust’s investments: | | |

| Investments
in Securities — Valuation Inputs | Level 1 | Level 2 | Level 3 | | Total | |
| --- | --- | --- | --- | --- | --- | --- |
| Assets: | | | | | | |
| Asset-Backed Securities | — | $ 14,529,236 | $ | 1,434,680 | $ 15,963,916 | |
| Non-Agency Mortgage-Backed
Securities | — | 32,978,440 | | 18,344,821 | 51,323,261 | |
| U.S. Government Sponsored
Agency Securities | — | 784,346,394 | | 9,950,865 | 794,297,259 | |
| U.S. Treasury Obligations | — | 54,608,520 | | — | 54,608,520 | |
| Short-Term Securities | $ 72,771,402 | — | | — | 72,771,402 | |
| Liabilities: | | | | | | |
| TBA Sale Commitment | — | (138,315,404 | ) | — | (138,315,404 | ) |
| Total | $ 72,771,402 | $ 748,147,186 | $ | 29,730,366 | $ 850,648,954 | |

BLACKROCK INCOME TRUST, INC. MAY 31, 2010 9

Schedule of Investments (concluded) BlackRock Income Trust, Inc. (BKT)

| Other
Financial Instruments 1 — Valuation Inputs | Level 1 | | Level 2 | | Level 3 | | Total | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Assets | $ 260,481 | | $ 35,510,120 | | — | | $ 35,770,601 | |
| Liabilities | (542,418 | ) | (40,403,215 | ) | $ (4,257,785 | ) | (45,203,418 | ) |
| Total | $ (281,937 | ) | $ (4,893,095 | ) | $ (4,257,785 | ) | $ (9,432,817 | ) |

| 1 |
| --- |
| The following table is a
reconciliation of Level 3 investments for which significant unobservable
inputs were used to determine fair value: |

| Investments
in Securities | Asset-Backed Securities | Corporate Bonds | | Non-Agency Mortgage- Backed Securities | | U.S.
Government Sponsored Agency Securities | | Total | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Balance, as of August 31, 2009 | $ 3,536,160 | $ | 582,709 | $ | 21,006,613 | $ | 14,122,541 | $ | 39,248,023 | |
| Accrued discounts/premiums | (78,245 | ) | — | | (1,458,669 | ) | (181,915 | ) | (1,718,829 | ) |
| Realized gain (loss) | (128,163 | ) | (288 | ) | 220,283 | | 749,440 | | 841,272 | |
| Change in unrealized appreciation/depreciation 2 | 1,991,804 | | 17,928 | | 1,156,081 | | (536,569 | ) | 2,629,244 | |
| Net purchases (sales) | — | | (600,349 | ) | (2,584,806 | ) | (4,202,632 | ) | (7,387,787 | ) |
| Net transfers in/out of Level 3 | (3,886,876 | ) | — | | 5,319 | | — | | (3,881,557 | ) |
| Balance, as of May 31, 2010 | $ 1,434,680 | | — | $ | 18,344,821 | $ | 9,950,865 | $ | 29,730,366 | |

| 2 |
| --- |
| The following table is a
reconciliation of Level 3 other financial instruments for which significant
unobservable inputs were used to determine fair value: |

| Balance, as of August 31, 2009 | Other
Financial Instruments 3 — $ (7,202,331 | ) |
| --- | --- | --- |
| Accrued discounts/premiums | — | |
| Realized gain (loss) | 204,333 | |
| Change in unrealized appreciation/depreciation | 2,740,213 | |
| Net purchases (sales) | — | |
| Net transfers in/out of Level 3 | — | |
| Balance, as of May 31, 2010 | $ (4,257,785 | ) |

3 Other financial instruments are interest rate floors.

10 BLACKROCK INCOME TRUST, INC. MAY 31, 2010

end

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 13(a)-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 Income Trust, Inc.
	By:	/s/ Anne F. Ackerley
		Anne F. Ackerley
		Chief Executive Officer of
		BlackRock Income Trust, Inc.
	Date: July 23, 2010
	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/ Anne F. Ackerley
		Anne F. Ackerley
		Chief Executive Officer (principal executive officer) of
		BlackRock Income Trust, Inc.
	Date: July 23, 2010
	By:	/s/ Neal J. Andrews
		Neal J. Andrews
		Chief Financial Officer (principal financial officer) of
		BlackRock Income Trust, Inc.
	Date: July 23, 2010