BLACKROCK INCOME TRUST, INC.

Regulatory Filings • Jan 26, 2011

N-Q 1 i00015_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: 08/31/2011

Date of reporting period: 11/30/2010

Item 1 – Schedule of Investments

insert

Schedule of Investments November 30, 2010 (Unaudited) BlackRock Income Trust, Inc. (BKT) (Percentages shown are based on Net Assets)

Asset-Backed Securities — First Franklin Mortgage Loan Asset-Backed Certificates, Series 2005-FF2, Class M2, 0.69%, 3/25/35 (a)	Par (000) — $ 5,890	$	5,384,974
Freddie Mac Mortgage-Backed Securities, Series T-11, Class A9, 2.34%, 1/25/28 (a)	2,664		2,739,947
GSAA Home Equity Trust, Series 2005-1, Class AF2, 4.32%, 11/25/34 (a)	922		929,477
Securitized Asset-Backed Receivables LLC Trust, Series 2005-OP2, Class M1, 0.68%, 10/25/35 (a)	1,875		935,589
Small Business Administration Participation Certificates, Class 1:
Series
1996-20E, 7.60%, 5/01/16	236		253,682
Series
1996-20G, 7.70%, 7/01/16	259		283,450
Series
1996-20H, 7.25%, 8/01/16	394		425,774
Series
1996-20K, 6.95%, 11/01/16	586		628,631
Series
1997-20C, 7.15%, 3/01/17	242		264,913
			11,846,437
Interest Only — 0.2%
Small Business Administration, Series 1, 1.00%, 4/01/15	2,107		21,069
Sterling Bank Trust, Series 2004-2, Class Note, 2.08%, 3/30/30 (b)	5,180		343,162
Sterling Coofs Trust, Series 1, 2.36%, 4/15/29	9		597,912
			962,143
Total Asset-Backed Securities – 2.6%			12,808,580
Non-Agency Mortgage-Backed Securities
Collateralized
Mortgage Obligations — 2.8%
Collateralized Mortgage Obligation Trust, Series 40, Class R, 0.58%, 4/01/18	—	(c)	159
Countrywide Alternative Loan Trust, Series 2005-28CB, Class 1A5, 5.50%, 8/25/35	1,519		1,446,891
Non-Agency Mortgage-Backed Securities	Par (000)	Value
Collateralized
Mortgage Obligations (concluded):
Deutsche ALT-A Securities, Inc. Alternate Loan Trust, Series 2006-AR5, Class 22A, 5.50%, 10/25/21	$ 1,359	$	1,193,874
Homebanc Mortgage Trust, Series 2005-4, Class A1, 0.52%, 10/25/35 (a)	3,358		2,541,064
JPMorgan Mortgage Trust, Series 2006-A7, Class 2A2, 5.76%, 1/25/37 (a)	508		388,808
Kidder Peabody Acceptance Corp., Series 1993-1, Class A6, 16.15%, 8/25/23 (a)	94		105,535
Residential Funding Securities LLC, Series 2003-RM2, Class AI5, 8.50%, 5/25/33	4,417		4,604,679
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-11, Class A, 2.85%, 8/25/34 (a)	1,434		1,332,496
WaMu Mortgage Pass-Through Certificates, Series 2006-AR1, Class 2A1C, 1.41%, 1/25/46 (a)	5,446		2,397,993
			14,011,499
Commercial
Mortgage-Backed Securities — 4.3%
Credit Suisse Mortgage Capital Certificates:
Series
2006-C5, Class A2, 5.25%, 12/15/39 (d)	13,663		13,922,449
Series
2007-C2, Class A3, 5.54%, 1/15/49 (a)	2,420		2,487,258
First Union-Lehman Brothers Commercial Mortgage, Series 1997-C2, Class D, 7.12%, 11/18/29	2,695		2,895,490
Wachovia Bank Commercial Mortgage Trust, Series 2007-C32, Class A2, 5.93%, 6/15/49 (a)	2,200		2,279,683
			21,584,880
Interest
Only Collateralized Mortgage Obligations — 1.3%
Bank of America Mortgage Securities Inc., Series 2003-3, Class 1AIO, 0.29%, 5/25/18 (a)	112,065		784,475
CitiMortgage Alternative Loan Trust, Series 2007-A5, Class 1A7, 6.00%, 5/25/37	1,031		110,660

Portfolio Abbreviation
LIBOR	London InterBank Offered
Rate

BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 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):
Collateralized Mortgage Obligation Trust, Series 42, Class R, 6,000.00%, 10/01/14	$ —	(c)	$ 668
First Boston Mortgage Securities Corp., Series C, Class I-O, 10.97%, 4/25/17	32		5,015
GSMPS Mortgage Loan Trust, Series 1998-5, Class IO, 0.97%, 6/19/27 (a)(b)	5,334		106,674
IndyMac INDX Mortgage Loan Trust, Series 2006-AR33, Class 4AX, 0.17%, 1/25/37	118,833		501,474
MASTR Adjustable Rate Mortgages Trust, Series 2004-3, Class 3AX, 0.98%, 4/25/34	13,879		145,311
MASTR Alternative Loans Trust, Series 2003-9, Class 15X2, 6.00%, 1/25/19	687		104,460
Morgan Stanley Mortgage Loan Trust, Series 2004-3, Class 1AX, 5.00%, 5/25/19	785		49,050
Sequoia Mortgage Trust, Series 2005-2, Class XA, 1.00%, 3/20/35 (a)	40,230		622,357
Structured Adjustable Rate Mortgage Loan Trust:
Series
2005-18, Class 7AX, 5.50%, 9/25/35 (a)	863		95,229
Series
2005-20, Class 3AX, 5.50%, 10/25/35	1,905		224,443
Series
2006-7, Class 3AS, 2.37%, 8/25/36 (a)	30,844		3,392,847
Vendee Mortgage Trust, Series 1999-2, Class 1IO, 0.05%, 5/15/29 (a)	60,785		107,772
			6,250,435
Interest
Only Commercial Mortgage-Backed Securities — 0.0%
CS First Boston Mortgage Securities Corp., Series 1997-C1, Class AX, 1.67%, 6/20/29 (a)(b)	3,132		110,795
Morgan Stanley Capital I, Series 1997-HF1, Class X, 3.44%, 7/15/29 (a)(b)	27		1
			110,796
Principal
Only Collateralized Mortgage Obligations — 0.9%
Countrywide Home Loan Mortgage Pass- Through Trust:
Series
2003-26, Class PO, 8/25/33	2,420		1,606,928
Series
2003-J4, Class PO, 6/25/33	403		322,835
Series
2003-J5, Class PO, 7/25/33	823		671,694
Series
2003-J8, Class PO, 9/25/23	561		462,861
Non-Agency Mortgage-Backed Securities	Par (000)		Value
Principal
Only Collateralized Mortgage Obligations (concluded):
Drexel Burnham Lambert CMO Trust, Class 1:
Series K, 9/23/17	$ 12		$ 11,929
Series V, 9/01/18	63		61,255
MASTR Asset Securitization Trust, Series 2004-3, Class 4A15, 3/25/34	126		113,653
Residential Asset Securitization Trust, Series 2005-A15, Class 1A8, 2/25/36	983		618,261
Structured Mortgage Asset Residential Trust, Series 1993-3C, Class CX, 4/25/24	8		5,472
Washington Mutual Alternative Mortgage Pass-Through Certificates, Series 2005-9, Class CP, 11/25/35	648		417,860
			4,292,748
Total
Non-Agency Mortgage-Backed Securities – 9.3%			46,250,358
U.S. Government Sponsored Agency Securities
Agency
Obligations — 2.3%
Federal Housing Administration, General Motors Acceptance Corp. Projects, Series 56, 7.43%, 11/01/22	229		229,273
Federal Housing Administration, Merrill Projects, Series 54, 7.43%, 5/15/23	2		2,077
Federal Housing Administration, Reilly Project, Series 41, 8.28%, 3/01/20	608		608,362
Federal Housing Administration, USGI Projects:
Series 87, 7.43%, 12/01/22	69		69,019
Series 99, 7.43%, 6/01/21	4,636		4,636,469
Series 99, 7.43%, 10/01/23	43		42,786
Series 99, 7.43%, 10/01/23	126		126,412
Resolution Funding Corp., 9.89% 4/15/30 (e)(f)	13,000		5,615,701
			11,330,099
Collateralized
Mortgage Obligations — 14.0%
Fannie Mae Mortgage-Backed Securities:
Series
1991-38, Class F, 8.33%, 4/25/21 (a)	5		5,022
Series
1991-38, Class SA, 10.19%, 4/25/21 (a)	5		5,075
Series
1991-46, Class S, 1.40%, 5/25/21 (a)	—	(c)	5,721
Series
1991-87, Class S, 25.94%, 8/25/21 (a)	68		106,961
Series
1993-247, Class SN, 10.00%, 12/25/23 (a)	488		537,560

2 BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 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)
Collateralized
Mortgage Obligations (continued)
Fannie Mae Mortgage-Backed Securities (concluded):
Series
2003-32, Class VT, 6.00%, 9/25/15	$ 4,698	$	4,846,826
Series
2003-135, Class PB, 6.00%, 1/25/34	12,264		13,960,526
Series
2004-29, Class HC, 7.50%, 7/25/30	871		913,001
Series
2004-31, Class ZG, 7.50%, 5/25/34	2,999		3,672,318
Series
2005-68, Class PC, 5.50%, 7/25/35	1,095		1,215,131
Series
2005-73, Class DS, 16.89%, 8/25/35 (a)	3,528		4,405,489
Series
2006-2, Class KP, 0.00%, 2/25/35 (a)	472		437,259
Series
G-7, Class S, 116.20%, 3/25/21 (a)	—	(c)	4,733
Series
G-17, Class S, 0.58%, 6/25/21 (a)	—	(c)	6,428
Series
G-33, Class PV, 1.08%, 10/25/21	—	(c)	5,450
Series
G-49, Class S, 5.55%, 12/25/21 (a)	—	(c)	2,475
Freddie Mac Mortgage-Backed
Securities:
Series
19, Class F, 8.50%, 3/15/20	104		114,847
Series
19, Class R, 9.76%, 3/15/20 (a)	—	(c)	1,653
Series
40, Class K, 6.50%, 8/17/24	412		473,329
Series
75, Class R, 9.50%, 1/15/21	—	(c)	3
Series
75, Class RS, 22.41%, 1/15/21 (a)	—	(c)	3
Series
173, Class R, 0.00%, 11/15/21	—	(c)	15
Series
173, Class RS, 9.14%, 11/15/21 (a)	—	(c)	16
Series
192, Class U, 1.01%, 2/15/22 (a)	—	(c)	68
Series
1057, Class J, 1.01%, 3/15/21	—	(c)	2,581
Series
1160, Class F, 38.83%, 10/15/21 (a)	22		42,838
Series
1961, Class H, 6.50%, 5/15/12	9		9,360
Series
2218, Class Z, 8.50%, 3/15/30	5,979		7,300,555
Series
2542, Class UC, 6.00%, 12/15/22	10,200		11,239,125
Series
2758, Class KV, 5.50%, 5/15/23	9,887		11,126,174
Series
2765, Class UA, 4.00%, 3/15/11	309		312,937
Series
2861, Class AX, 10.42%, 9/15/34 (a)	306		327,367
Series
2927, Class BZ, 5.50%, 2/15/35	2,845		3,145,054
U.S. Government Sponsored Agency Securities	Par (000)	Value
Collateralized
Mortgage Obligations (concluded)
Ginnie Mae Mortgage-Backed Securities:
Series 1996-5, Class Z, 7.00%, 5/16/26	$ 639	$	698,014
Series 2001-33, Class PB, 6.50%, 7/20/31	1,039		1,116,858
Series 2004-89, Class PE, 6.00%, 10/20/34	3,392		3,810,249
			69,851,021
Federal
Deposit Insurance Corporation Guaranteed — 0.8%
Citigroup Funding, Inc., 1.88%, 10/22/12	3,800		3,892,245
Interest
Only Collateralized Mortgage Obligations — 5.1%
Fannie Mae Mortgage-Backed Securities:
Series
7, Class 2, 8.50%, 4/01/17	5		966
Series
89, Class 2, 8.00%, 10/01/18	9		1,196
Series
94, Class 2, 9.50%, 8/01/21	4		842
Series
1990-123, Class M, 1,009.50%, 10/25/20	—	(c)	691
Series
1990-136, Class S, 0.02%, 11/25/20 (a)	14		19,469
Series
1991-38, Class N, 1,008.50%, 4/25/21	—	(c)	8
Series
1991-99, Class L, 930.00%, 8/25/21	—	(c)	2,983
Series
1991-139, Class PT, 648.30%, 10/25/21	—	(c)	4,069
Series
1993-199, Class SB, 2.63%, 10/25/23 (a)	1,004		108,487
Series
1996-68, Class SC, 2.26%, 1/25/24 (a)	670		50,412
Series
1997-50, Class SI, 1.20%, 4/25/23 (a)	399		14,505
Series
1997-90, Class M, 6.00%, 1/25/28	7,227		1,183,621
Series
1999-W4, Class IO, 6.50%, 12/25/28	416		74,602
Series
2005-43, Class IC, 6.00%, 3/25/34	12		62
Series
G-10, Class S, 575.40%, 5/25/21 (a)	—	(c)	13,807
Series
G-12, Class S, 608.10%, 5/25/21 (a)	—	(c)	10,425
Series
G-50, Class G, 1,158.60%, 12/25/21	—	(c)	875
Series
G92-5, Class H, 9.00%, 1/25/22	104		16,574
Series
G92-12, Class C, 1,016.80%, 2/25/22	—	(c)	6,203
Series
G92-60, Class SB, 1.60%, 10/25/22 (a)	302		10,642
Freddie Mac Mortgage-Backed Securities:
Series
176, Class M, 1,010.00%, 7/15/21	—	(c)	760

BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 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 (concluded)
Freddie Mac Mortgage-Backed Securities (concluded):
Series
200, Class R, 98,522.80%, 12/15/22 (a)	$ —	(c)	$ 16
Series
1043, Class H, 0.02%, 2/15/21 (a)	9		18,737
Series
1054, Class I, 435.30%, 3/15/21 (a)	—	(c)	1,652
Series
1056, Class KD, 1.08%, 3/15/21	—	(c)	1,009
Series
1148, Class E, 592.50%, 10/15/21 (a)	—	(c)	6,807
Series
1914, Class PC, 0.75%, 12/15/11	274		673
Series
2545, Class NI, 5.50%, 3/15/22	458		14,894
Series
2559, Class IO, 5.00%, 8/15/30 (a)	251		3,457
Series
2611, Class QI, 5.50%, 9/15/32	4,944		543,111
Series
2694, Class LI, 4.50%, 7/15/19	134		722
Series
2949, Class IO, 5.50%, 3/15/35	899		84,582
Series
3437, Class SD, 6.46%, 4/15/38 (a)	32,583		4,812,965
Series
3504, Class GS, 5.84%, 1/15/39 (a)	50,016		4,679,386
Ginnie Mae Mortgage-Backed Securities:
Series
2006-49, Class SA, 6.22%, 2/20/36 (a)	5,261		562,918
Series
2007-23, Class ST, 5.96%, 4/20/37 (a)	4,566		503,903
Series
2009-92, Class SC, 5.86%, 10/16/39 (a)	13,378		1,588,510
Series
2010-4, Class SJ, 6.26%, 5/16/34 (a)	32,625		5,053,928
Series
2010-47, Class BX, 6.21%, 8/16/34 (a)	22,995		3,744,084
Series
2010-101, Class YT, 2.00%, 8/16/13	66,057		2,344,607
			25,487,160
Mortgage-Backed Securities — 153.7%
Fannie Mae Mortgage-Backed Securities:
4.00%, 12/15/40 (g)	46,700		47,422,402
4.50%, 8/01/25 - 1/15/41 (g)(h)(i)	276,327		288,709,192
5.00%, 1/01/23 - 1/15/41 (g)(i)	174,059		185,013,586
5.50%, 12/15/25 - 12/15/40 (g)(i)	140,121		151,272,275
5.97%, 8/01/16	3,082		3,520,070
6.00%, 12/15/40 (g)	21,800		23,721,125
6.50%, 12/15/40 (g)	49,900		55,357,812
7.50%, 2/01/22	—	(d)	157
9.50%, 1/01/19 - 9/01/19	3		3,575
Freddie Mac Mortgage-Backed Securities:
2.73%, 1/01/35 (a)	207		208,225
U.S. Government Sponsored Agency Securities	Par (000)		Value
Mortgage-Backed
Securities (concluded)
Freddie Mac Mortgage-Backed Securities (concluded):
4.51%, 11/01/17 (a)	$ 20		$ 20,498
4.98%, 10/01/34 (a)	543		569,641
5.00%, 2/01/22 - 4/01/22 (i)	1,564		1,668,695
5.50%, 12/15/25 (g)	7,000		7,586,250
9.00%, 9/01/20 (i)	63		70,989
Ginnie Mae Mortgage-Backed Securities:
7.50%, 8/15/21 - 12/15/23	272		311,507
8.00%, 10/15/22 - 2/15/29	92		110,106
9.00%, 6/15/18 - 9/15/21	9		10,421
			765,576,526
Principal
Only Collateralized Mortgage Obligations — 0.5%
Fannie Mae Mortgage-Backed Securities:
Series
203, Class 1, 2/01/23	24		21,265
Series
228, Class 1, 6/01/23	17		15,047
Series
1991-7, Class J, 2/25/21	21		18,824
Series
1993-51, Class E, 2/25/23	79		70,920
Series
1993-70, Class A, 5/25/23	12		10,715
Series
1999-W4, Class PO, 2/25/29	216		191,711
Series
2002-13, Class PR, 3/25/32	468		403,515
Series
G93-2, Class KB, 1/25/23	189		176,006
Freddie Mac Mortgage-Backed Securities:
Series
1418, Class M, 11/15/22	86		76,691
Series
1571, Class G, 8/15/23	487		401,619
Series
1691, Class B, 3/15/24	1,154		1,035,021
Series
1739, Class B, 2/15/24	62		51,905
Series
T-8, Class A10, 11/15/28	150		138,048
			2,611,287
Total U.S.
Government Sponsored Agency Securities – 176.4%			878,748,338
U.S. Treasury Obligations
U.S. Treasury Bonds:
7.25%, 8/15/22	2,010		2,837,240
6.25%, 8/15/23 (h)	3,320		4,362,686
U.S. Treasury Inflation Indexed Bonds, 0.50%, 4/15/15	4,853		4,996,601
U.S. Treasury Notes:
1.25%, 10/31/15	5,785		5,734,381
2.25%, 11/30/17	3,615		3,638,440

4 BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 2010

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

U.S. Treasury Obligations	Par (000)	Value
U.S. Treasury Notes
(concluded):
3.50%, 2/15/18	$ 1,740	$ 1,894,289
2.63%, 8/15/20 (h)	22,790	22,533,612
2.63%, 11/15/20 (h)	6,210	6,118,788
4.50%, 8/15/39 (i)	330	353,049
4.38%, 5/15/40 (h)	36,985	38,741,787
3.88%, 8/15/40 (h)	20,390	19,590,325
Total U.S.
Treasury Obligations – 22.2%		110,801,198
Total
Long-Term Investments (Cost – $1,044,039,225) – 210.5%		1,048,608,474
Short-Term Securities	Shares
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.17% (j)(k)	6,098,699	6,098,699
Total
Short-Term Securities (Cost – $6,098,699) – 1.2%		6,098,699
Options Purchased	Notional Amount (000 )
Over-the-Counter
Call Swaptions — 0.2%
Receive a fixed rate of 5.47% and pay a floating rate based on 3-month LIBOR, Expires 5/08/12, Broker Bank of America NA	$ 6,200	1,056,809
Over-the-Counter Put Swaptions — 0.0%
Pay a fixed rate of 5.47% and receive a floating rate based on 3-month LIBOR, Expires 5/08/12, Broker Bank of America NA	6,200	49,662
Total
Options Purchased (Cost – $492,280) – 0.2%		1,106,471
Total
Investments Before TBA Sale Commitments and Options Written (Cost – $1,050,630,204*) – 211.9%		1,055,813,644
TBA Sale Commitments (g)	Par (000 )
Fannie Mae Mortgage-Backed
Securities:
4.00%, 12/15/40	60,000	(60,928,140	)
4.50%, 8/01/25 - 1/15/41	136,200	(141,899,365	)
5.00%, 1/01/23 - 1/15/41	41,700	(44,172,756	)
Freddie Mac Mortgage-Backed
Securities, 5.00%, 2/01/22 - 4/01/22	1,500	(1,592,109	)
Total TBA
Sale Commitments (Proceeds – $250,413,559) – (49.9)%		(248,592,370	)
Options Written	Contracts	Value
Exchange
Traded Call Options — (0.0)%
Five-Year U.S. Treasury
Bond Future, Strike Price $119.50, Expires 2/18/11	16	$ (19,875	)
Ten-Year U.S. Treasury Bond
Future, Strike Price $124, Expires 2/18/11	62	(112,375	)
		(132,250	)
Exchange
Traded Put Options — (0.0)%
Five-Year U.S. Treasury
Bond Future, Strike Price $119.50, Expires 2/18/11	16	(14,250	)
Ten-Year U.S. Treasury Bond
Future, Strike Price $124, Expires 2/18/11	62	(105,594	)
		(119,844	)
	Notional Amount (000 )
Over-the-Counter
Call Swaptions — (0.3)%
Pay a fixed rate of 3.43% and receive a floating rate based on 3-month LIBOR, Expires 3/24/11, Broker JPMorgan Chase Bank NA	$ 7,000	(283,094	)
Pay a fixed rate of 5.33% and receive a floating rate based on 3-month LIBOR, Expires 7/17/13, Broker JPMorgan Chase Bank NA	11,100	(1,060,505	)
		(1,343,599	)
Over-the-Counter
Put Swaptions — (0.0)%
Receive a fixed rate of 3.43% and pay a floating rate based on 3-month LIBOR, Expires 3/24/11, Broker JPMorgan Chase Bank NA	7,000	(77,511	)
Receive a fixed rate of 5.33% and pay a floating rate based on 3-month LIBOR, Expires 7/17/13, Broker JPMorgan Chase Bank NA	11,100	(121,245	)
		(198,756	)
Total
Options Written (Premiums Received – $1,615,694) – (0.3)%		(1,794,449	)
Total
Investments, Net of TBA Sale Commitments and Options Written – 161.7%		805,426,825
Liabilities
in Excess of Other Assets – (61.7)%		(307,209,344	)
Net Assets
– 100.0%		$ 498,217,481

• The cost and unrealized appreciation (depreciation) of investments as of November 30, 2010, as computed for federal income tax purposes were as follows:

Aggregate cost	$
Gross unrealized
appreciation	$ 28,075,596
Gross unrealized
depreciation	(23,169,330	)
Net unrealized appreciation	$ 4,906,266

| (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. |

BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 2010 5

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

(c)	Amount is less than $1,000.
(d)	All or a portion of
security has been pledged as collateral in connection with Term Asset-Backed
Securities Loan Facility (“TALF”) Program.
(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 open financial
futures contracts.
(g)	Represents or includes a to-be-announced
(“TBA”) transaction. Unsettled TBA transactions as of report date were as
follows:

Counterparty — Banc of America NA	Value — $ 6,702,095		Unrealized Appreciation (Depreciation) — $ 1,033
Citigroup Global Markets,
Inc.	$ 62,429,461		$ 109,301
Credit Suisse Securities
(USA) LLC	$ 54,370,254		$ (169,012	)
Deutsche Bank Securities,
Inc.	$ (1,942,317	)	$ (17,645	)
Goldman Sachs & Co.	$ 95,943,644		$ 41,289
Greenwich Financial
Services	$ 6,702,096		$ 2
JPMorgan Securities, Inc.	$ 4,476,033		$ 12,768
Morgan Stanley Capital
Services, Inc.	$ (18,450,973	)	$ 114,011
Nomura Securities International, Inc.	$ 23,694,964		$ (3,204	)
UBS Securities	$ (21,400,646	)	$ 60,260

| (h) | All or a portion of
security has been pledged as collateral in connection with open reverse
repurchase agreements. |
| --- | --- |
| (i) | All or a portion of
security has been pledged as collateral in connection with swaps. |
| (j) | 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	857,657	5,241,042	6,098,699	Income — $ 1,038

| (k) | Represents the current
yield as of report date. |
| --- | --- |
| • | Interest rate floors outstanding
as of November 30, 2010 were as follows: |

| Pay a fixed rate of 4.80%
and receive a floating rate based on 3-month LIBOR, Expires 3/25/11, Broker Goldman Sachs Bank USA | Notional Amount (000) — $ 60,000 | Value — $ (1,223,100 | ) | Depreciation Unrealized — $ (559,100 | ) |
| --- | --- | --- | --- | --- | --- |
| Pay a fixed rate of 5.50%
and receive a floating rate based on 3-month LIBOR, Expires 9/15/11, Broker Citibank NA | $ 24,000 | (1,196,592 | ) | (736,592 | ) |
| Total | | $ (2,419,692 | ) | $ (1,295,692 | ) |

6 BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 2010

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

• Reverse repurchase agreements outstanding as of November 30, 2010 were as follows:

| Counterparty | | Trade Date | Maturity Date | Net
Closing Amount | Face Amount |
| --- | --- | --- | --- | --- | --- |
| Bank of America NA | 0.23% | 10/13/10 | Open | $ 9,954,003 | $ 9,950,888 |
| Bank of America NA | 0.24% | 10/14/10 | Open | 8,922,855 | 8,920,000 |
| Barclays Capital, Inc. | 0.30% | 10/15/10 | Open | 37,334,652 | 37,320,035 |
| Barclays Capital, Inc. | 0.25% | 11/01/10 | Open | 13,142,738 | 13,140,000 |
| Credit Suisse Securities (USA), Inc. | 0.24% | 11/03/10 | Open | 8,831,648 | 8,830,000 |
| Merrill Lynch & Co., Inc. | 0.23% | 11/18/10 | Open | 5,588,815 | 5,588,351 |
| Credit Suisse Securities (USA), Inc. | 0.23% | 11/19/10 | 12/13/10 | 4,572,351 | 4,572,000 |
| Barclays Capital, Inc. | (0.30)% | 11/30/10 | Open | 6,132,324 | 6,132,375 |
| Total | | | | $ 94,479,386 | $ 94,453,649 |

• Financial futures contracts purchased as of November 30, 2010 were as follows:

Contracts	Issue	Exchange	Expiration	Notional Value	Unrealized Appreciation (Depreciation)
40	2-Year
U.S. Treasury Bond	Chicago
Board of Trade	December
2010	$ 8,782,184	$ 316
80	Euro
Dollars	Chicago
Mercantile	December
2010	$ 19,937,095	(12,595	)
26	5-Year
U.S. Treasury Bond	Chicago
Board of Trade	March
2011	$ 3,116,190	(49	)
37	30-Year
Ultra Long Term U.S. Treasury Bond	Chicago
Board of Trade	March
2011	$ 4,783,386	105,239
8	Euro
Dollars	Chicago
Mercantile	March
2011	$ 1,990,142	(1,642	)
9	Euro
Dollars	Chicago
Mercantile	March
2012	$ 2,230,563	(475	)
34	Euro
Dollars	Chicago
Mercantile	June
2012	$ 8,421,318	(6,318	)
51	Euro
Dollars	Chicago
Mercantile	September
2012	$ 12,623,616	(18,328	)
25	Euro
Dollars	Chicago
Mercantile	June
2013	$ 6,142,632	2,056
19	Euro
Dollars	Chicago
Mercantile	September
2013	$ 4,656,715	3,035
Total					$ 71,239

• Financial futures contracts sold as of November 30, 2010 were as follows:

Contracts	Issue	Exchange	Expiration	Notional Value	Unrealized Appreciation (Depreciation)
308	5-Year
U.S. Treasury Bond	Chicago
Board of Trade	December
2010	$ 37,126,620	$ (25,881	)
607	10-Year
U.S. Treasury Bond	Chicago
Board of Trade	December
2010	$ 76,046,164	142,711
59	2-Year
U.S. Treasury Bond	Chicago
Board of Trade	March
2011	$ 12,923,310	(19,815	)
1,242	10-Year
U.S. Treasury Bond	Chicago
Board of Trade	March
2011	$ 153,896,913	(246,931	)
80	30-Year
U.S. Treasury Bond	Chicago
Board of Trade	March
2011	$ 10,111,015	(71,485	)
4	Euro
Dollars	Chicago
Mercantile	June
2011	$ 995,889	2,339
3	Euro
Dollars	Chicago
Mercantile	September
2011	$ 746,392	1,679
300	Euro
Dollars	Chicago
Mercantile	December
2011	$ 74,223,603	(187,647	)
11	Euro
Dollars	Chicago
Mercantile	December
2012	$ 2,719,858	5,745
9	Euro
Dollars	Chicago
Mercantile	March
2013	$ 2,221,850	5,150
Total					$ (394,135	)

BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 2010 7

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

• Interest rate swaps outstanding as of November 30, 2010 were as follows:

Fixed Rate	Floating Rate	Counterparty	Expiration	Notional Amount (000)	Unrealized Appreciation (Depreciation)
1.45% (a)	3-month
LIBOR	JPMorgan
Chase Bank NA	July
2011	$ 20,000	$ (123,671	)
0.83% (a)	3-month
LIBOR	Deutsche
Bank AG	July
2012	$ 34,800	(79,537	)
4.88% (b)	3-month
LIBOR	UBS
AG	March
2015	$ 25,000	3,579,675
4.87% (b)	3-month
LIBOR	Goldman
Sachs Bank USA	January
2016	$ 5,500	838,955
2.81% (b)	3-month
LIBOR	Citibank
NA	February
2016	$ 20,000	1,000,413
5.72% (b)	3-month
LIBOR	JPMorgan
Chase Bank NA	July
2016	$ 5,400	1,094,369
5.51% (b)	3-month
LIBOR	Bank
of America NA	August
2017	$ 95,147	19,345,391
5.88% (a)	3-month
LIBOR	Deutsche
Bank AG	June
2018	$ 31,930	(7,066,490	)
4.55% (a)	3-month
LIBOR	Citibank
NA	September
2018	$ 41,600	(5,992,399	)
4.31% (a)	3-month
LIBOR	Deutsche
Bank AG	October
2018	$ 66,000	(8,380,802	)
3.17% (b)	3-month
LIBOR	Bank
of America NA	March
2019	$ 4,700	182,643
3.09% (a)	3-month
LIBOR	Deutsche
Bank AG	March
2019	$ 25,700	(863,690	)
2.88% (b)	3-month
LIBOR	Deutsche
Bank AG	April
2019	$ 39,700	647,491
3.23% (a)	3-month
LIBOR	Deutsche
Bank AG	May
2019	$ 2,800	(117,277	)
3.90% (a)	3-month
LIBOR	Barclays
Bank Plc	June
2019	$ 20,000	(1,876,393	)
3.55% (a)	3-month
LIBOR	Deutsche
Bank AG	August
2019	$ 15,000	(1,110,613	)
5.49% (a)	3-month
LIBOR	JPMorgan
Chase Bank NA	October
2019	$ 5,400	(1,006,651	)
3.67% (b)	3-month
LIBOR	Deutsche
Bank AG	December
2019	$ 4,600	327,676
5.67% (a)	3-month
LIBOR	Citigroup
Global Markets Inc.	January
2020	$ 12,400	(2,343,707	)
3.88% (b)	3-month
LIBOR	Morgan
Stanley Capital Services, Inc.	January
2020	$ 7,600	672,035
3.71% (a)	3-month
LIBOR	Deutsche
Bank AG	February
2020	$ 9,200	(673,318	)
3.73% (b)	3-month
LIBOR	Morgan
Stanley Capital Services, Inc.	May
2020	$ 28,000	2,056,154
5.41% (b)	3-month
LIBOR	JPMorgan
Chase Bank NA	August
2022	$ 9,565	2,166,443
Total					$ 2,276,697

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

| • | 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 rating group indexes, and/or as defined by Trust management. This
definition may not apply for purposes of this report, which may combine such
industry sub-classifications for reporting ease. | |
| --- | --- | --- |
| • | Fair Value Measurements -
Various inputs are used in determining the fair value of investments and
derivatives, 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 annual report. | | |

8 BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 2010

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

The following tables summarize the inputs used as of November 30, 2010 in determining the fair valuation of the Trust’s investments and derivatives:

Valuation Inputs	Level 1	Level 2			Total
Assets:
Investments in Securities:
Long-Term Investments:
Asset-Backed Securities	—	$ 11,846,438	$	962,142	$ 12,808,580
Non-Agency Mortgage-Backed Securities	—	39,110,938		7,139,420	46,250,358
U.S. Government Sponsored Agency Securities	—	873,032,235		5,716,103	878,748,338
U.S. Treasury Obligations	—	110,801,198		—	110,801,198
Short-Term Securities	$ 6,098,699	—		—	6,098,699
Liabilities:
Investments in Securities:
Long-Term Investments:
TBA Sale Commitments	—	(248,592,370	)	—	(248,592,370	)
TALF Loans	—	(11,739,534	)	—	(11,739,534	)
Total	$ 6,098,699	$ 774,458,905	$	13,817,665	$ 794,375,269

| Derivative
Financial Instruments 1 — Valuation Inputs | Level 1 | | Level 2 | | Level 3 | | Total | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Assets: | | | | | | | | |
| Interest rate contracts | $ 268,270 | | $ 33,017,716 | | — | | $ 33,285,986 | |
| Liabilities: | | | | | | | | |
| Interest rate contracts | (843,260 | ) | (32,373,495 | ) | $ (1,223,100 | ) | (34,439,855 | ) |
| Total | $ (574,990 | ) | $ 644,221 | | $ (1,223,100 | ) | $ (1,153,869 | ) |

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

	Asset-Backed Securities
Assets:
Balance, as of August 31, 2010	$ 1,261,564	$	8,085,631	$	5,750,715	$	15,097,910
Accrued discounts/premiums	(50,722	)	(380,091	)	(3,724	)	(434,537	)
Net realized gain (loss)	—		(560,519	)	(3,798	)	(564,317	)
Net change in unrealized appreciation/depreciation 2 .	(248,700	)	226,072		65,459		42,831
Purchases	—		—		—		—
Sales	—		(121,013	)	(92,549	)	(213,562	)
Transfer in 3	—		—		—		—
Transfer out 3	—		(110,660	)	—		(110,660	)
Balance, as of November 30, 2010	$ 962,142	$	7,139,420	$	5,716,103	$	13,817,665

| 2 | The change in unrealized
appreciation/depreciation on securities still held at November 30, 2010 was
$(451,771). |
| --- | --- |
| 3 | The Trust’s policy is to
recognize transfers in and transfers out as of the end of the period of the
event or the change in circumstances that caused the transfer. |

BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 2010 9

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

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

| | Interest
Rate Contracts | |
| --- | --- | --- |
| Liabilities: | | |
| Balance, as of August 31, 2010 | $ (3,446,023 | ) |
| Accrued discounts/premiums | — | |
| Net realized gain (loss) | 55,333 | |
| Net change in unrealized appreciation/depreciation 4 | 970,998 | |
| Purchases | — | |
| Sales | — | |
| Transfer in 3 | — | |
| Transfer out 3 | 1,196,592 | |
| Balance, as of November 30, 2010 | $ (1,223,100 | ) |

4 The change in unrealized appreciation/depreciation on securities still held at November 30, 2010 was $659,022.

10 BLACKROCK INCOME TRUST, INC. NOVEMBER 30, 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 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 Income Trust, Inc.
	By:	/s/ Anne F. Ackerley
		Anne F. Ackerley
		Chief Executive Officer (principal executive officer) of
		BlackRock Income Trust, Inc.
	Date: January 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/ Anne F. Ackerley
		Anne F. Ackerley
		Chief Executive Officer (principal executive officer) of
		BlackRock Income Trust, Inc.
	Date: January 26, 2011
	By:	/s/ Neal J. Andrews
		Neal J. Andrews
		Chief Financial Officer (principal financial officer) of
		BlackRock Income Trust, Inc.
	Date: January 26, 2011