Regulatory Filings • Sep 29, 2005
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Download Source FileN-Q 1 c39101_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: 811-21349
BlackRock Limited Duration Income Trust (Exact name of registrant as specified in charter)
| 100 Bellevue Parkway, Wilmington, DE | 19809 |
|---|---|
| (Address of principal executive offices) | (Zip code) |
Robert S. Kapito, President
BlackRock Limited Duration Income Trust
40 East 52nd Street, New York, NY 10022 (Name and address of agent for service)
Registrant's telephone number, including area code: 888-825-2257
Date of fiscal year end: October 31, 2005
Date of reporting period: July 31, 2005
Item 1. Schedule of Investments.
The Registrants unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:
PORTFOLIO OF INVESTMENTS
July 31, 2005
BlackRock Limited Duration Income Trust (BLW)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| LONG-TERM INVESTMENTS144.9% | ||||
| Mortgage Pass-Through Securities21.9% | ||||
| Federal National Mortgage Assoc., | ||||
| $121,700 | 5.00%, 6/01/20 - 12/01/99 | $ 121,966,281 | ||
| 17,000 | 2 | 7.25%, 1/15/10 | 18,944,460 | |
| 4,707 | 2 | 4.62%, 1/01/34, TBA | 4,777,419 | |
| 12,210 | 2 | 5.50%, 12/01/28 - 11/01/33, | ||
| TBA | 12,279,593 | |||
| Total Mortgage Pass-Through Securities | 157,967,753 | |||
| Interest Only Asset-Backed Securities1.3% | ||||
| Sterling Coofs Trust, | ||||
| 63,753 | 3 | Ser. 1, 2.546%, 4/15/29 | 5,339,303 | |
| 54,298 | 3 | Ser. 2, 2.02%, 3/30/30 | 4,208,074 | |
| Total Interest Only Asset-Backed | ||||
| Securities | 9,547,377 | |||
| Interest Only Mortgage-Backed | ||||
| Securities0.4% | ||||
| 15,660 | Federal National Mortgage Assoc., | |||
| Ser. 64, Class QI, 5.50%, 1/25/33 | 2,803,162 | |||
| Asset-Backed Securities3.2% | ||||
| AAA | 2,080 | Citibank Credit Card Issuance Trust, | ||
| 2003 A5 Class A5 Note, 2.50%, 4/07/08 | 2,058,805 | |||
| AAA | 6,066 | 2 | DaimlerChrysler Auto Trust, Ser. | |
| B, Class A3, 2.25%, 2/01/05 | 6,029,735 | |||
| AAA | 6,802 | 2 | Honda Auto Receivables, Class A3, | |
| 2.30%, 10/18/07 | 6,733,818 | |||
| AAA | 7,910 | 2 | MBNA Credit Card Master Note Trust, | |
| 2001 1 Note Class A, 5.75%, 10/15/08 | 8,012,751 | |||
| Total Asset-Backed Securities | 22,835,109 | |||
| Collateralized Mortgage Obligation | ||||
| Securities2.2% | ||||
| GSR Mortgage Loan Trust, | ||||
| AAA | 8,118 | 2 | Ser. 10, Class 2A1, 4.48%, | |
| 10/25/33 | 7,797,513 | |||
| AAA | 7,937 | Ser. 13, Class 1A1, 4.50%, | ||
| 10/25/33 | 7,704,274 | |||
| Total Collateralized Mortgage Obligation | ||||
| Securities | 15,501,787 | |||
| Corporate Bonds62.8% | ||||
| Aerospace & Defense2.6% | ||||
| 1,560 | 3 | AAR Corp., Ser. A2, 8.39%, 5/15/11 | 1,591,200 | |
| 2,020 | 3 | Aero Invest 1 S.A., 10.635%, 9/01/05 | 2,453,794 | |
| B- | 1,020 | BE Aerospace, Inc., 8.875%, 5/01/11 | 1,060,800 | |
| 4,750 | Raytheon Co., 7.00%, 5/15/06 | 4,965,251 | ||
| BB- | 5,350 | 2 | Sequa Corp., Ser. B, 8.875%, 4/01/08 | 5,778,000 |
| B- | 2,755 | 2 | Transdigm, Inc., 8.375%, 7/15/11 | 2,934,075 |
| 18,783,120 | ||||
| Automotive3.2% | ||||
| B- | 1,140 | Accuride Corp., 8.50%, 2/01/15 | 1,185,600 | |
| BB | 345 | ArvinMeritor, Inc., 8.75%, 3/01/12 | 371,738 | |
| B | 270 | Cooper-Standard Automotive, Inc., | ||
| 7.00%, 12/15/12 | 259,200 | |||
| A3 | 7,500 | 2 | DaimlerChrysler NA Holding Corp., | |
| 4.05%, 6/04/08 | 7,351,425 | |||
| Ca | 375 | Delphi Corp., 6.50%, 5/01/09 | 337,500 | |
| Ba1 | 7,500 | 2 | General Motors Acceptance Corp., | |
| 6.875%, 8/28/12 | 7,129,125 | |||
| B- | 470 | Goodyear Tire & Rubber Co., 7.857%, | ||
| 8/15/11 | 470,588 | |||
| CCC+ | 1,105 | 3 | Metaldyne Corp., 10.00%, 11/01/13 | 1,002,787 |
| BB- | 530 | 3 | Navistar Intl. Corp., 6.25%, 3/01/12 | 519,400 |
| BB- | 3,729 | TRW Automotive, Inc., 9.375%, 2/15/13 | 4,176,480 | |
| 22,803,843 | ||||
| Basic Materials6.0% | ||||
| BB- | 930 | Abitibi-Consolidated, Inc., 8.375%, | ||
| 4/01/15 (Canada) | 969,525 | |||
| B- | 4,250 | Caraustar Industries, Inc., 9.875%, | ||
| 4/01/11 | 4,345,625 | |||
| BB- | 740 | Donohue Forest Products, 7.625%, | ||
| 5/15/07 (Canada) | 756,650 | |||
| Ba3 | 2,500 | Huntsman Advanced Materials LLC, | ||
| 11.00%, 7/15/10 | 2,837,500 | |||
| Huntsman LLC, | ||||
| B | 310 | 11.50%, 7/15/12 | 362,700 | |
| BB- | 1,950 | 11.625%, 10/15/10 | 2,291,250 |
1
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Basic Materials(continued) | ||||
| BB | $ 300 | IMC Global, Inc., Ser. B, 10.875%, | ||
| 6/01/08 | $ 341,250 | |||
| CCC+ | 1,340 | 3 | Innophos, Inc., 8.875%, 8/15/14 | 1,376,850 |
| BB+ | 5,000 | Ipsco, Inc., 8.75%, 6/01/13 (Canada) | 5,575,000 | |
| Lyondell Chemical Co., | ||||
| BB- | 560 | 10.50%, 6/01/13 | 648,900 | |
| BB- | 4,500 | 11.125%, 7/15/12 | 5,130,000 | |
| B- | 340 | Nalco Co., 8.875%, 11/15/13 | 370,175 | |
| NewPage Corp., | ||||
| B3 | 1,500 | 3 | 9.46%, 8/01/05 | 1,496,250 |
| B3 | 500 | 3 | 10.00%, 5/01/12 | 503,750 |
| B- | 710 | 3 | PQ Corp., 7.50%, 2/15/13 | 706,450 |
| BB- | 600 | 3 | Quicksilver, Inc., 6.875%, 4/15/15 | 603,000 |
| CCC+ | 1,905 | Rhodia SA, 8.875%, 6/01/11 (France) | 1,857,375 | |
| Rockwood Specialties Group, Inc., | ||||
| B- | 450 | 3 | 7.50%, 11/15/14 | 451,125 |
| B- | 5,000 | 10.625%, 5/15/11 | 5,537,500 | |
| Southern Peru Copper Corp., | ||||
| Ba1 | 210 | 3 | 6.375%, 7/27/15 | 209,859 |
| BBB- | 700 | 3 | 7.50%, 7/27/35 | 693,875 |
| B3 | 2,650 | Trimas Corp., 9.875%, 6/15/12 | 2,259,125 | |
| BB | 3,250 | United States Steel LLC, 10.75%, | ||
| 8/01/08 | 3,652,188 | |||
| 42,975,922 | ||||
| Building & Development1.1% | ||||
| B2 | 750 | 3 | Compression Polymers Corp., 10.50%, | |
| 7/01/13 | 757,500 | |||
| BB+ | 3,000 | DR Horton, Inc., 5.875%, 7/01/13 | 2,978,508 | |
| Goodman Global Holding Co., Inc., | ||||
| B- | 375 | 3 | 6.41%, 6/15/12 | 375,000 |
| B- | 3,170 | 3 | 7.875%, 12/15/12 | 3,031,312 |
| CCC+ | 915 | Nortek, Inc., 8.50%, 9/01/14 | 884,119 | |
| 8,026,439 | ||||
| Conglomerates1.1% | ||||
| BB- | 75 | Stena AB, 7.00%, 12/01/16, (Sweden) | 71,438 | |
| BBB+ | 7,500 | 2 | Tyco Intl. Group SA, 6.125%, 11/01/08 | |
| (Luxembourg) | 7,823,325 | |||
| 7,894,763 | ||||
| Consumer Products4.6% | ||||
| B3 | 400 | ALH Finance LLC/ALH Finance Corp., | ||
| 8.50%, 1/15/13 | 380,000 | |||
| B3 | 1,610 | 3 | Duane Reade, Inc., 7.91%, 12/15/10 | 1,541,575 |
| B+ | 1,630 | Finlay Fine Jewelry Corp., 8.375%, | ||
| 6/01/12 | 1,532,200 | |||
| B | 2,140 | Gold Kist, Inc., 10.25%, 3/15/14 | 2,428,900 | |
| B+ | 5,000 | 3 | Group 1 Automotive, Inc., 8.25%, | |
| 8/15/13 | 5,062,500 | |||
| BB+ | 4,400 | JC Penney Co., Inc., 8.00%, 3/01/10 | 4,856,500 | |
| B- | 1,550 | Lazydays RV Center, Inc., 11.75%, | ||
| 5/15/12 | 1,631,375 | |||
| B- | 2,075 | Levi Strauss & Co., 8.254%, 4/01/12 | 2,080,187 | |
| B2 | 4,605 | 3 | Movie Gallery, Inc., 11.00%, 5/01/12 | 4,766,175 |
| Rite Aid Corp., | ||||
| B- | 375 | 3 | 6.125%, 6/15/05 | 356,250 |
| B+ | 5,000 | 8.125%, 5/01/10 | 5,156,250 | |
| B | 3,500 | Sonic Automotive, Inc., Ser. B, 8.625%, | ||
| 8/15/13 | 3,605,000 | |||
| 33,396,912 | ||||
| Containers & Packaging1.3% | ||||
| Graham Packaging Co., Inc., | ||||
| CCC+ | 785 | 3 | 8.50%, 10/15/12 | 814,437 |
| CCC+ | 1,100 | 3 | 9.875%, 10/15/14 | 1,130,250 |
| B- | 5,000 | Graphic Packaging Intl., Inc., 9.50%, | ||
| 8/15/13 | 5,156,250 | |||
| B3 | 1,935 | Pliant Corp., 11.125%, 9/01/09 | 1,881,788 | |
| 8,982,725 |
2
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Ecological Services & Equipment1.2% | ||||
| B | $ 2,000 | Casella Waste Systems, Inc., 9.75%, | ||
| 2/01/13 | $ 2,160,000 | |||
| B- | 5,350 | National Waterworks, Inc., Ser. B, | ||
| 10.50%, 12/01/12 | 6,259,500 | |||
| 8,419,500 | ||||
| Energy7.2% | ||||
| Ba3 | 5,500 | 2,3 | AES Corp., 8.75%, 5/15/13 | 6,146,250 |
| ANR Pipeline Co., | ||||
| B1 | 460 | 7.375%, 2/15/24 | 483,575 | |
| B1 | 1,780 | 9.625%, 11/01/21 | 2,273,950 | |
| CCC | 255 | Calpine Energy Finance LLC, 8.50%, | ||
| 5/01/08 (Canada) | 184,875 | |||
| B | 700 | 3 | Calpine Corp., 9.625%, 9/30/14 | 729,750 |
| BB- | 4,000 | Chesapeake Energy Corp., 7.50%, 9/15/13 | 4,320,000 | |
| CMS Energy Corp., | ||||
| B+ | 150 | 7.50%, 1/15/09 | 158,250 | |
| B+ | 460 | 9.875%, 10/15/07 | 504,850 | |
| Coastal Corp., | ||||
| B- | 400 | 7.42%, 2/15/37 | 368,000 | |
| B- | 525 | 9.625%, 5/15/12 | 584,062 | |
| B- | 225 | 10.75%, 10/01/10 | 248,625 | |
| BB- | 750 | 3 | Compagnie Generale de Geophysique | |
| SA, 7.50%, 5/15/15 (France) | 783,750 | |||
| B- | 2,150 | 3 | Dynegy Holdings, Inc., 10.125%, 7/15/13 | 2,445,625 |
| B- | 400 | El Paso Corp., 7.80%, 8/01/31 | 400,000 | |
| B1 | 400 | El Paso Natural Gas Co., 8.375%, | ||
| 12/15/05 | 474,000 | |||
| B | 300 | Exco Resources, Inc., 7.25%, 1/15/11 | 309,000 | |
| BB- | 2,160 | 3 | Gazprom, 9.625%, 3/01/13 (Germany) | 2,624,400 |
| B | 5,000 | 3 | Hilcorp Energy I LP/Hilcorp Finance | |
| Corp., 10.50%, 9/01/10 | 5,550,000 | |||
| B- | 725 | 3 | KCS Energy, Inc., 7.125%, 4/01/12 | 743,125 |
| Midwest Generation LLC, | ||||
| B+ | 4,778 | 8.56%, 1/02/16 | 5,303,630 | |
| B+ | 1,315 | Ser. A, 8.30%, 7/02/09 | 1,393,900 | |
| B2 | 500 | Mission Energy Holdings Co., 13.50%, | ||
| 7/15/08 | 596,250 | |||
| B | 550 | 3 | North American Energy Partners, Inc., | |
| 9.00%, 5/15/10 (Canada) | 561,000 | |||
| B- | 450 | 3 | Ocean Rig Norway AS, 8.375%, 7/01/13 | |
| (Norway) | 470,250 | |||
| B | 580 | Orion Power Holdings, Inc., 12.00%, | ||
| 5/01/10 | 700,350 | |||
| B | 110 | Range Resources Corp., 6.375%, 3/15/15 | 110,550 | |
| B+ | 1,590 | Reliant Energy, Inc., 6.75%, 12/15/14 | 1,562,175 | |
| B | 5,000 | Swift Energy Co., 9.375%, 5/01/12 | 5,450,000 | |
| Ba2 | 100 | Transcontinental Gas Pipe Line Corp., | ||
| 7.25%, 12/01/26 | 111,375 | |||
| B2 | 3,440 | Utilicorp Canada Finance Corp., 7.75%, | ||
| 6/15/11 (Canada) | 3,586,200 | |||
| B2 | 600 | Whiting Petroleum Corp., 7.25%, 5/01/13 | 607,500 | |
| B- | 1,095 | 3 | Williams Clayton Energy, Inc., 7.75%, | |
| 8/01/13 | 1,092,263 | |||
| B+ | 1,000 | Williams Cos, Inc., 7.125%, 9/01/11 | 1,086,250 | |
| 51,963,780 | ||||
| Entertainment & Leisure1.2% | ||||
| B | 2,200 | Hammons John Q. Hotels LP, Ser. B, | ||
| 8.875%, 5/15/12 | 2,409,000 | |||
| Ba3 | 5,425 | MGM Mirage, 9.75%, 6/01/07 | 5,852,219 | |
| B | 250 | Poster Financial Group, Inc., 8.75%, | ||
| 12/01/11 | 256,250 | |||
| B+ | 400 | Wynn Las Vegas LLC, 6.625%, 12/01/14 | 389,500 | |
| 8,906,969 | ||||
| Financial Institutions6.9% | ||||
| BB | 1,480 | 3 | American Real Estate Partners LP/American | |
| Real Estate Finance Corp., 7.125%, 2/15/13 | 1,480,000 | |||
| B- | 2,333 | BCP Crystal US Holdings Corp., 9.625%, | ||
| 6/15/14 | 2,647,955 | |||
| BB | 3,360 | Crum & Forster Hldgs. Corp., | ||
| 10.375%, 6/15/13 | 3,696,000 | |||
| BB | 1,000 | Fairfax Financial Holdings Ltd., | ||
| 7.75%, 4/26/12 (Canada) | 967,500 | |||
| Ford Motor Credit Co., | ||||
| Baa3 | 500 | 7.25%, 10/25/11 | 493,445 | |
| Baa3 | 7,500 | 2 | 7.375%, 2/01/11 | 7,451,130 |
| Ba1 | 3,000 | General Motors Acceptance Corp., | ||
| 4.509%, 1/16/07 | 2,946,660 | |||
| B- | 900 | K&F Acquisition, Inc., 7.75%, | ||
| 11/15/14 | 922,500 | |||
| Baa2 | 5,000 | 3 | Kazkommerts Intl. BV, 10.125%, 5/08/07 | |
| (Netherlands) | 5,418,750 |
3
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Financial Institutions(continued) | ||||
| B- | $ 100 | 3 | KRATON Polymers LLC, 8.125%, 1/15/14 | $ 97,000 |
| BBB | 200 | Marsh & Mclennan Cos., Inc., | ||
| 3.71%, 7/13/07 | 198,592 | |||
| Rainbow National Services LLC, | ||||
| B+ | 925 | 3 | 8.75%, 9/01/12 | 1,017,500 |
| B+ | 4,985 | 10.375%, 9/01/14 | 5,745,212 | |
| B1 | 2,500 | Sheridan Acquisition Corp., 10.25%, | ||
| 8/15/11 | 2,615,625 | |||
| 7,409 | Structured Asset Receivable Trust, | |||
| 1.649%, 1/21/10 | 7,407,106 | |||
| B- | 1,160 | UGS Corp., 10.00%, 6/01/12 | 1,293,400 | |
| B- | 220 | Universal City Florida Hldg. Co. | ||
| I/II, 7.96%, 8/01/05 | 231,000 | |||
| BB- | 4,425 | 2 | Western Financial Bank, 9.625%, 5/15/12 | 4,878,563 |
| 49,507,938 | ||||
| Forest Products1.9% | ||||
| BB+ | 5,685 | 2 | Georgia Pacific Corp., 8.875%, 2/01/10 | 6,388,519 |
| BBB | 7,500 | 2 | Weyerhaeuser Co., 5.25%, 12/15/09 | 7,577,707 |
| 13,966,226 | ||||
| Health Care3.4% | ||||
| BB+ | 5,000 | Amerisourcebergen Corp., 8.125%, | ||
| 9/01/08 | 5,412,500 | |||
| B- | 5,000 | Concentra Operating Corp., 9.50%, | ||
| 8/15/10 | 5,312,500 | |||
| CCC | 80 | Curative Health Services, Inc., 10.75%, | ||
| 5/01/11 | 62,800 | |||
| B | 1,505 | 3 | Elan Finance Corp., 7.75%, 11/15/11 | |
| (Ireland) | 1,305,587 | |||
| B3 | 535 | Insight Health Services Corp., Ser. | ||
| B, 9.875%, 11/01/11 | 465,450 | |||
| B- | 3,000 | Norcross Safety Products LLC/Norcross | ||
| Cap. Corp., 9.875%, 8/15/11 | 3,172,500 | |||
| Tenet Healthcare Corp., | ||||
| B | 340 | 6.375%, 12/01/11 | 324,700 | |
| B | 1,470 | 9.875%, 7/01/14 | 1,572,900 | |
| B | 4,500 | United Surgical Partners Intl., Inc., | ||
| 10.00%, 12/15/11 | 4,950,000 | |||
| B- | 1,880 | Universal Hospital Services, Inc., | ||
| 10.125%, 11/01/11 | 1,941,100 | |||
| 24,520,037 | ||||
| Industrials4.2% | ||||
| B | 300 | 3 | Ashtead Holdings PLC, 8.625%, 8/01/15 | 308,916 |
| B+ | 5,000 | Cenveo Corp., 9.625%, 3/15/12 | 5,387,500 | |
| B- | 5,685 | 2,3 | DI Finance/DynCorp. Intl., 9.50%, | |
| 2/15/13 | 5,642,362 | |||
| B- | 2,665 | ERICO Intl. Corp., 8.875%, 3/01/12 | 2,771,600 | |
| B- | 4,000 | Fasten Tech Inc., 11.50%, 5/01/11 | 4,360,000 | |
| B- | 1,670 | 3 | Hydrochem Industrial Services, 9.25%, | |
| 2/15/13 | 1,565,625 | |||
| B- | 2,835 | 3 | Knowledge Learning Corp., Inc., 7.75%, | |
| 2/01/15 | 2,749,950 | |||
| 1,880 | 3 | Nationsrent Cos., Inc., 9.50%, 5/01/15 | 1,959,900 | |
| CCC+ | 1,955 | 3 | Park-Ohio Inds., Inc., 8.375%, 11/15/14 | 1,832,813 |
| Rural/Metro Corp., | ||||
| CCC+ | 640 | 3 | zero coupon, 3/15/16 | 348,800 |
| CCC+ | 700 | 3 | 9.875%, 3/15/15 | 698,250 |
| B3 | 2,240 | 3 | Sunstate Equipment Co. LLC, 10.50%, | |
| 4/01/13 | 2,301,600 | |||
| 29,927,316 | ||||
| Media7.1% | ||||
| 2,360 | 3 | Cablecom SCA (Luxembourg) (EUR), | ||
| 4.898%, 7/15/05 | 2,881,143 | |||
| CCC+ | 3,500 | 2 | CBD Media, Inc., 8.625%, 6/01/11 | 3,657,500 |
| CCC- | 880 | Charter Communications Hldgs. II | ||
| LLC/Charter Communications Hldgs. II Cap. Corp., 10.25%, 9/15/10 | 910,800 | |||
| BBB+ | 6,685 | 2 | Comcast Cable Communications, Inc., | |
| 6.875%, 6/15/09 | 7,186,776 | |||
| BB- | 6,000 | 2 | CSC Holdings, Inc., 7.875%, 12/15/07 | 6,195,000 |
| B | 1,300 | Dex Media East, LLC, 12.125%, 11/15/12 | 1,550,250 | |
| Echostar DBS Corp., | ||||
| BB- | 2,000 | 5.75%, 10/01/08 | 1,985,000 | |
| BB- | 5,100 | LIBOR + 2.25%, 6.754%, 10/01/08 | 5,214,750 | |
| B- | 5,000 | Houghton Mifflin Co., 9.875%, 2/01/13 | 5,462,500 | |
| CCC+ | 300 | 3 | Iesy Repository GMBH, 10.375%, 2/15/15 | 309,000 |
| B- | 760 | 3 | Nexstar Finance, Inc., 7.00%, 1/15/14 | 710,600 |
| B3 | 3,250 | Nextmedia Operating, Inc., 10.75%, | ||
| 7/01/11 | 3,534,375 | |||
| B1 | 2,500 | 3 | Paxson Communications Corp., 6.349%, | |
| 1/15/10 | 2,500,000 |
4
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Media(continued) | ||||
| B | $ 550 | 3 | Penn National Gaming, Inc., 6.75%, | |
| 3/01/15 | $ 552,750 | |||
| B2 | 2,000 | Salem Communications Corp., 7.75%, | ||
| 12/15/10 | 2,090,000 | |||
| Vertis, Inc., | ||||
| CCC | 2,120 | 10.875%, 6/15/09 | 2,056,400 | |
| 465 | 13.50%, 12/07/09 | 358,050 | ||
| B- | 200 | 3 | WMG Hldgs. Corp., 9.50%, 12/15/14 | 139,000 |
| CCC | 1,260 | WRC Media, Inc./Weekly Reader Corp./JLC | ||
| Learning Corp., 12.75%, 11/15/09 | 1,338,750 | |||
| CCC | 2,640 | Young Broadcasting, Inc., 10.00%, | ||
| 3/01/11 | 2,481,600 | |||
| 51,114,244 | ||||
| Real Estate1.1% | ||||
| BB | 5,860 | 2 | American Real Estate Partners LP, | |
| 8.125%, 6/01/12 | 6,182,300 | |||
| BB+ | 2,000 | Rouse Co., 5.375%, 11/26/13 | 1,919,680 | |
| 8,101,980 | ||||
| Technology2.2% | ||||
| B- | 2,708 | Amkor Tech. Inc., 7.75%, 5/15/13 | 2,342,420 | |
| Ba2 | 3,972 | Flextronics Intl. Ltd., 6.50%, 5/15/13 | ||
| (Singapore) | 4,115,985 | |||
| B+ | 430 | 3 | Hynix Semiconductor, Inc., 9.875%, | |
| 7/01/12 (South Korea) | 467,625 | |||
| Ba3 | 500 | 3 | MagnaChip Semiconductor SA/MagnaChip | |
| Semiconductor Finance Co., 6.66%, 9/15/05 (Luxembourg) | 501,250 | |||
| B1 | 485 | Sanmina SCI Corp., 6.75%, 3/01/13 | 465,600 | |
| Sungard Data Systems, Inc., | ||||
| B- | 500 | 4.50%, 8/15/13 | 518,750 | |
| B- | 1,900 | 3 | 9.125%, 8/15/13 | 1,983,220 |
| B- | 1,830 | 3 | 10.25%, 8/15/15 | 1,905,579 |
| B | 3,515 | Superior Essex Communications LLC/Essex | ||
| Group, Inc., 9.00%, 4/15/12 | 3,585,300 | |||
| 15,885,729 | ||||
| Telecommunications5.5% | ||||
| 1,145 | Celestica, Inc., 7.625%, 7/01/13 | 1,163,606 | ||
| B1 | 920 | Cincinnati Bell, Inc., 7.25%, 7/15/13 | 980,950 | |
| A- | 5,000 | 2 | Deutsche Telekom Intl. Finance BV, | |
| 8.50%, 6/15/10 (Netherlands) | 5,694,550 | |||
| B- | 860 | 3 | Hawaiian Telcom Communications, Inc., | |
| 8.914%, 5/01/13 | 892,250 | |||
| Intelsat Ltd., | ||||
| B | 800 | 5.25%, 11/01/08 (Bermuda) | 760,000 | |
| B+ | 1,390 | 3 | 8.25%, 1/15/13 (Bermuda) | 1,452,550 |
| B+ | 2,250 | 3 | 8.625%, 1/15/15 (Bermuda) | 2,396,250 |
| B+ | 1,700 | 3 | 8.695%, 1/15/12 (Bermuda) | 1,734,000 |
| B1 | 3,830 | Lucent Technologies, Inc., 6.50%, | ||
| 1/15/28 | 3,408,700 | |||
| B+ | 2,737 | PanAmSat Corp., 9.00%, 8/15/14 | 3,024,385 | |
| B | 4,000 | Qwest Communications Intl., Inc., | ||
| 7.268%, 8/15/05 | 4,010,000 | |||
| Qwest Corp., | ||||
| BB- | 2,500 | 3 | 6.671%, 9/17/05 | 2,600,000 |
| BB- | 1,000 | 7.875%, 9/01/11 | 1,042,500 | |
| BB- | 6,000 | 2 | 9.125%, 3/15/12 | 6,555,000 |
| B | 1,320 | Qwest Services Corp., 13.50%, 12/15/10 | 1,519,650 | |
| BB | 460 | Rogers Wireless, Inc., 7.25%, 12/15/12 | ||
| (Canada) | 496,800 | |||
| CCC | 2,030 | Rural Cellular Corp., 9.875%, 2/01/10 | 2,159,413 | |
| 39,890,604 | ||||
| Transportation1.0% | ||||
| B | 1,475 | 3 | CHC Helicopter Corp., 7.375%, 5/01/14 | |
| (Canada) | 1,493,438 | |||
| B3 | 140 | 3 | Horizon Lines LLC, 9.00%, 11/01/12 | 149,450 |
| B+ | 360 | OMI Corp., 7.625%, 12/01/13 (Marshall | ||
| Island) | 366,750 | |||
| BB+ | 1,650 | Overseas Shipholding Group, Inc., | ||
| 8.75%, 12/01/13 | 1,848,000 | |||
| B | 3,015 | Sea Containers Ltd., 10.50%, 5/15/12 | ||
| (Bermuda) | 3,143,137 | |||
| B | 165 | Ultrapetrol Bahamas Ltd., 9.00%, | ||
| 11/24/14 (Bahamas) | 146,025 | |||
| 7,146,800 | ||||
| Total Corporate Bonds | 452,214,847 |
5
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Bank Loans44.4% | |||
| Aerospace & Defense0.6% | |||
| $ 984 | Camp Acquisition Co., Term Loan A, | ||
| LIBOR + 3.25%, 8/30/11 | $ 983,871 | ||
| 1,995 | Dyncorp International LLC, Loan Term | ||
| B, LIBOR + 2.75%, 2/11/11 | 2,014,950 | ||
| 1,469 | Transdigm, Inc., Term Loan, LIBOR | ||
| + 2.25%, 7/22/10 | 1,488,491 | ||
| 4,487,312 | |||
| Automotive1.4% | |||
| 493 | CSK Automotive, Inc., Term Loan C, | ||
| LIBOR + 2.00%, 6/18/09 | 495,270 | ||
| 1,229 | Dayco Products, LLC, Term Loan B, | ||
| LIBOR + 3.00%, 6/23/11 | 1,236,032 | ||
| Goodyear Tire & Rubber Co., | |||
| 500 | Term Loan - Second Lien, LIBOR | ||
| + 2.75%, 4/30/10 | 503,125 | ||
| 2,000 | Term Loan - Third Lien, LIBOR | ||
| + 3.50%, 4/01/11 | 1,984,286 | ||
| 998 | Hilite Intl., Term Loan B, LIBOR | ||
| + 4.00%, 4/15/10 | 987,525 | ||
| 999 | Metaldyne Co. LLC, Term Loan D, LIBOR | ||
| + 4.50%, 12/31/09 | 981,264 | ||
| 1,000 | Polar Corp., Term Loan, LIBOR, 6/15/2010 | 1,010,000 | |
| 517 | Tenneco Automotive, Term Loan B, | ||
| Libor + 2.25%, 12/12/10 | 522,910 | ||
| 2,488 | TRW Automotive Acquisitions Corp., | ||
| Term Loan B, LIBOR + 1.50%, 6/30/12 | 2,510,820 | ||
| 10,231,232 | |||
| Basic Materials1.8% | |||
| 1,000 | Berry Plastics Corp., Term Loan, | ||
| LIBOR + 2.25%, 12/02/11 | 1,015,250 | ||
| 1,260 | Boise Cascade LLC, Term Loan D, LIBOR | ||
| + 1.75%, 10/29/11 | 1,277,483 | ||
| 2,208 | Celanese, Term Loan - Dollar, LIBOR | ||
| + 2.25%, 4/06/11 | 2,245,554 | ||
| 286 | Celenase, Term Loan, TBD, | 288,828 | |
| 3,000 | Cognis Deutschland, Term Loan, LIBOR | ||
| + 4.75%, 11/15/13 | 3,054,375 | ||
| 1,547 | Huntsman Intl. LLC, Term Loan B, | ||
| LIBOR + 2.25%, 12/31/10 | 1,547,322 | ||
| 1,764 | Huntsman LLC, Term Loan, LIBOR + | ||
| 3.00%, 3/31/10 | 1,764,393 | ||
| 499 | PQ Corp., Term Loan, LIBOR + 2.00%, | ||
| 2/11/12 | 504,049 | ||
| 1,000 | Rockwood Specialties Group, Inc., | ||
| Term Loan D, LIBOR + 2.50%, 12/10/12 | 1,016,042 | ||
| 12,713,296 | |||
| Beverage & Tobacco0.1% | |||
| 500 | Arbys Term B, Term Loan, LIBOR + | ||
| 2.25%, 07/25/12 | 506,041 | ||
| Building & Development1.1% | |||
| 243 | Atrium Companies, Inc., Term Loan, | ||
| LIBOR + 2.75%, 12/28/11 | 238,389 | ||
| 1,500 | Custom Building Products, Inc., Term | ||
| Loan - Second Lien, LIBOR + 5.00%, 4/30/12 | 1,488,750 | ||
| 250 | Euramax International, Inc., Term | ||
| Loan, LIBOR + 7.00%, 7/15/13 | 250,000 | ||
| 519 | Juno Lighting, Inc., Term Loan - | ||
| Second Lien, LIBOR + 5.50%, 5/11/11 | 522,984 | ||
| Kyle Acquisitions, | |||
| 300 | Term Loan, Prime, 7/20/10 | 304,125 | |
| 731 | Term Loan A, Prime, 7/20/08 | 741,403 | |
| 1,000 | Landsource Communities Development, | ||
| LLC, Term Loan B, LIBOR + 2.50%, 3/31/10 | 1,001,250 | ||
| Nortek, Inc., | |||
| 494 | Term Loan B, LIBOR + 2.25%, | ||
| 8/27/11 | 497,350 | ||
| 3 | Term Loan B, PRIME + 1.25%, | ||
| 8/27/11 | 2,518 | ||
| Ply Gem Industries, Inc., | |||
| 1,498 | Term Loan B, LIBOR + 2.50%, | ||
| 2/12/11 | 1,498,134 | ||
| 419 | USD Term Loan, LIBOR + 2.50%, | ||
| 10/1/11 | 419,165 | ||
| 62 | CAD Term Loan, LIBOR + 2.50% | ||
| 3/15/10 | 61,594 | ||
| 1,000 | Williams Scotsman, Term Loan B, Libor | ||
| + 2.50%, 6/28/10 | 1,011,875 | ||
| 8,037,537 | |||
| Chemical0.7% | |||
| 920 | INEOS Group Holdings PLC, Term Loan | ||
| C, LIBOR + 3.50%, 4/26/09 | 923,325 | ||
| 2,497 | Nalco Chemical Co., Term Loan B, | ||
| LIBOR + 2.00%, 11/04/10 | 2,536,868 | ||
| 478 | SGL Carbon LLC, Term Loan, LIBOR | ||
| + 3.00%, 12/31/09 | 480,209 | ||
| 983 | USI Holdings Corp., Term Loan B, | ||
| LIBOR + 2.50%, 8/11/08 | 984,342 | ||
| 4,924,744 |
6
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Conglomerates3.3% | |||
| Atlantis Plastics, Inc., | |||
| $ 498 | Term Loan First Lien, LIBOR | ||
| + 2.75%, 9/30/11 | $ 501,853 | ||
| 1,000 | Term Loan Second Lien, LIBOR | ||
| + 7.25%, 9/30/11 | 1,000,000 | ||
| 1,990 | Colfax Corp., Term Loan B, LIBOR | ||
| + 2.25%, 5/30/09 | 2,006,583 | ||
| 3,133 | Fidelity National Information Solutions, | ||
| Inc., Term Loan B, LIBOR + 1.75%, 3/09/13 | 3,138,135 | ||
| 500 | Gentek, Inc., Term Loan, LIBOR + | ||
| 5.75%, 3/15/12 | 472,500 | ||
| 1,485 | Honeywell Security Group, Term Loan | ||
| B, LIBOR + 4.00%, 6/28/10 | 1,494,281 | ||
| 1,500 | IAP Acquisition Corp., Term Loan | ||
| - First Lien, LIBOR + 2.75%, 3/01/11 | 1,520,625 | ||
| Invesys Intl. Holdings Ltd., | |||
| 984 | Loan Term - Revolver, LIBOR, | ||
| 3/05/09 | 954,650 | ||
| 4,250 | Term Loan - Second Lien, LIBOR | ||
| + 4.75%, 11/30/09 | 4,345,625 | ||
| 1,977 | Term Loan B1, LIBOR + 3.50%, | ||
| 9/05/09 | 2,001,872 | ||
| 500 | Jarden Corporation, Term Loan B2, | ||
| Libor, 1/24/12 | 502,250 | ||
| 839 | NDC Health Corp., Term Loan, LIBOR | ||
| + 3.00%, 11/26/08 | 839,278 | ||
| 500 | Penn Engineering & Manufacturing, | ||
| Term Loan, LIBOR, 5/25/11 | 502,500 | ||
| 302 | Precise Technology, Inc., Term Loan | ||
| First Lien, LIBOR + 3.00%, 3/31/11 | 303,055 | ||
| 1,247 | Quintiles Transnational Corp., Term | ||
| Loan B, LIBOR + 1.75%, 9/25/09 | 1,251,247 | ||
| 998 | St. John Knits, Term Loan B, Libor | ||
| + 2.50%, 3/18/12 | 1,006,228 | ||
| 1,965 | Trimas Corp., Term Loan B, LIBOR | ||
| + 3.50%, 12/31/09 | 1,977,729 | ||
| 23,818,411 | |||
| Consumer Products7.8% | |||
| 1,000 | 24 Hour Fitness Worlwide, Inc., Term | ||
| Loan B, LIBOR + 3.00%, 6/08/12 | 1,014,375 | ||
| 499 | Adams Outdoor Advertising, L.P., | ||
| Term Loan, LIBOR + 2.00%, 10/18/12 | 505,400 | ||
| 1,055 | Alimentation Couche Tard, Inc., Term | ||
| Loan, LIBOR + 1.75%, 12/17/10 | 1,064,592 | ||
| Berkline/BenchCraft Holdings, LLC, | |||
| 988 | Term Loan B, LIBOR + 3.00%, | ||
| 11/3/11 | 989,969 | ||
| 988 | Term Loan Second Lien, LIBOR | ||
| + 8.00%, 4/30/12 | 997,375 | ||
| 500 | Buffets, Inc., Term Loan LC, LIBOR | ||
| + 1%, 6/28/09 | 501,250 | ||
| 500 | Burger King, Term Loan B, Libor + | ||
| 1.75%, 6/20/12 | 507,604 | ||
| 746 | Central Garden Pet, Term Loan B, | ||
| LIBOR + 1.75%, 5/31/09 | 753,680 | ||
| 1000 | Chiquita Brands International, Loan | ||
| Term C, LIBOR + 2.50%, 06/28/2012 | 1,015,000 | ||
| 1,065 | CKE Restaurants, Inc., Term Loan, | ||
| LIBOR + 2.00%, 5/01/10 | 1,073,307 | ||
| 414 | Coinstar, Inc., Term Loan, LIBOR | ||
| + 2.25%, 7/07/11 | 418,787 | ||
| 2,238 | Delaware Laboratories, Inc., Term | ||
| Loan, LIBOR + 3.00%, 07/27/11 | 2,218,543 | ||
| 1,000 | Dennys Corp., Term Loan, LIBOR | ||
| + 5.125%, 9/30/10 | 1,030,000 | ||
| 496 | Doane Pet Care Co., Term Loan, LIBOR | ||
| + 4.00%, 11/05/09 | 504,107 | ||
| 550 | Dole Food Co., Inc., Term Loan B, | ||
| LIBOR + 1.50%, 4/18/12 | 556,135 | ||
| 498 | Douglas Dynamics, Term Loan, LIBOR | ||
| + 2.00%, 12/16/10 | 502,475 | ||
| 3,054 | Dr. Pepper Bottling Co. of Texas, | ||
| Term Loan B, LIBOR + 2.00%, 12/19/10 | 3,094,153 | ||
| 1,112 | Jarden Corp., Term Loan, LIBOR + | ||
| 2.00%, 8/15/11 | 1,120,298 | ||
| 795 | Keystone Foods Holdings, LLC, Term | ||
| Loan, LIBOR + 1.75%, 6/16/11 | 803,415 | ||
| Knoll, Inc., Term Loan, | |||
| 826 | LIBOR + 3.00%, 9/29/11 | 837,238 | |
| 9 | Term loan, PRIME + 2.00%, 9/29/11 | 9,541 | |
| 2,653 | Invista B.V., Term Loan B1, LIBOR | ||
| + 2.25%, 4/30/11 | 2,691,957 | ||
| 911 | Language Line, Inc., Term Loan B, | ||
| LIBOR + 4.25%, 6/10/11 | 921,084 | ||
| 1,658 | Le Nature, Inc., Term Loan B, LIBOR | ||
| + 3.00%, 5/30/10 | 1,674,165 | ||
| Michael Foods, Inc., Term Loan - | |||
| B, | |||
| 2515 | LIBOR + 2.25%, 11/21/10 | 2,552,879 | |
| 223 | PRIME + 1.25%, 11/21/10 | 226,449 | |
| 2,000 | NewPage Corp., Term Loan B, LIBOR | ||
| + 3.00%, 5/2/11 | 2,035,000 | ||
| 963 | Nice Pak Products, Inc., Term Loan, | ||
| LIBOR + 3.50%, 6/15/10 | 967,312 | ||
| Olympus Cable Holdings, LLC, | |||
| 2,000 | Term Loan A, Prime + 1.25%, | ||
| 6/30/10 | 1,968,928 | ||
| 3,500 | Term Loan B, PRIME + 2.00%, | ||
| 9/30/10 | 3,458,749 | ||
| Oriental Trading Co., Inc., | |||
| 2,707 | Term Loan B, LIBOR + 2.50%, | ||
| 8/6/10 | 2,717,276 | ||
| 463 | Term Loan Second Lien, LIBOR | ||
| + 4.75%, 1/08/11 | 464,662 |
7
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Consumer Products(continued) | |||
| $ 2,978 | OSI Group LLC, Term Loan, LIBOR + | ||
| 2.50%, 9/02/11 | $ 3,013,477 | ||
| 1,768 | Pantry, Inc., The, Term Loan B, LIBOR | ||
| + 2.25%, 3/12/11 | 1,791,322 | ||
| 1,500 | PBM Products, Term Loan Term B, Libor | ||
| + 3.00%, 7/26/11 | 1,500,000 | ||
| 861 | Pierre Foods, Inc., Term Loan B, | ||
| LIBOR + 2.75%, 6/30/10 | 871,953 | ||
| 1,481 | Prestige Brands Holdings, Inc., Term | ||
| Loan B, LIBOR + 2.25%, 4/06/11 | 1,493,593 | ||
| 975 | Propex Fabrics, Inc., Term Loan, | ||
| LIBOR + 2.25%, 11/30/11 | 973,781 | ||
| 3,478 | R.H. Donnelley, Inc., Term Loan D, | ||
| Libor + 1.75%, 6/30/11 | 3,522,635 | ||
| 3,185 | Tempur Pedic, Inc., Term Loan B, | ||
| LIBOR + 2.25%, 6/30/09 | 3,210,878 | ||
| 500 | Travel Centers of America, Inc., | ||
| Term Loan B, Libor + 1.75%, 12/01/11 | 505,313 | ||
| 56,078,658 | |||
| Containers & Packaging1.9% | |||
| 868 | Bway Corp., Term Loan, LIBOR + 2.25%, | ||
| 6/30/11 | 879,393 | ||
| FlexSol Packaging Corp., | |||
| 358 | Term Loan, LIBOR + 3.25%, 11/30/11 | 357,911 | |
| 1,000 | Term Loan - Second Lien, LIBOR | ||
| + 7.00%, 11/30/12 | 975,000 | ||
| Graham Packaging Co., Inc., | |||
| 1,990 | Term Loan B, LIBOR + 2.50%, | ||
| 10/07/11 | 2,019,020 | ||
| 2,000 | Term Loan C, LIBOR + 4.25%, | ||
| 4/07/12 | 2,055,000 | ||
| 1,383 | Graphic Packaging Intl., Inc., Term | ||
| Loan C, LIBOR + 2.50%, 6/30/10 | 1,399,932 | ||
| Owens-Illinois Group, Inc., | |||
| 3,170 | Term Loan A, LIBOR + 2.75%, | ||
| 4/01/07 | 3,192,479 | ||
| 589 | Term Loan C1, LIBOR + 1.75%, | ||
| 4/01/08 | 592,796 | ||
| 568 | Smurfit Stone Container Corp., Term | ||
| Loan, Libor + 2.10%, 11/01/11 | 576,042 | ||
| 1,975 | Solo Cup, Inc., Term Loan, LIBOR | ||
| + 2.00%, 2/27/11 | 1,996,231 | ||
| 14,043,804 | |||
| Ecological Services & Equipment0.6% | |||
| 2,655 | Allied Waste NA, Term Loan, LIBOR | ||
| + 2.00%, 1/15/12 | 2,672,213 | ||
| 1,014 | Cerdit Link, LIBOR + @.00%, 1/15/12 | 1,019,215 | |
| 268 | Envirosolutions, Inc., Term, Term | ||
| Loan, LIBOR + 4.50%, 3/1/09 | 272,214 | ||
| 232 | Envirosolutions, Inc., Term Loan, | ||
| LIBOR + 4.50%, 3/1/09 | 231,230 | ||
| 4,194,872 | |||
| Energy1.8% | |||
| 429 | AES Corp.,, Term Loan, LIBOR + 1.75%, | ||
| 4/30/08 | 433,714 | ||
| 766 | Calpine Corp., Term Loan, LIBOR + | ||
| 5.75%, 7/16/07 | 641,985 | ||
| 1,000 | Cellnet Technology, Inc., Term Loan | ||
| B, LIBOR + 3.00%, 4/26/12 | 997,500 | ||
| 933 | Cogentrix Delaware Holdings, Inc., | ||
| Term Loan, LIBOR + 1.75%, 4/14/12 | 942,971 | ||
| El Paso Corp., | |||
| 617 | Term Loan B, LIBOR + 2.75%, | ||
| 11/23/09 | 624640 | ||
| 375 | Letter of Credit, LIBOR + 2.77%, | ||
| 11/30/07 | 379,336 | ||
| 1,861 | Getty Petroleum Marketing, Inc., | ||
| Term Loan, LIBOR + 3.00%, 5/20/10 | 1,879,567 | ||
| 1,000 | Kerr-McGee Corp., Loan Term B, LIBOR | ||
| + 2.50%, 5/24/11 | 1,016,364 | ||
| 433 | Pike Electric, Inc., Term Loan B, | ||
| LIBOR + 2.25%, 7/01/12 | 437,667 | ||
| 2,736 | Reliant Energy, Inc., Term Loan, | ||
| LIBOR + 2.375%, 4/30/10 | 2,766,606 | ||
| Semgroup LP, Term Loan, | |||
| 797 | LIBOR + 2.50%, 3/16/11 | 805,215 | |
| 0 | PRIME + 1.00%, 3/16/11 | 3 | |
| 700 | CA Term Loan, LIBOR + 2.50% | ||
| 3/16/11 | 707,438 | ||
| 500 | Trout Coal Holdings LLC, Term Loan | ||
| - Second Lien, LIBOR + 5.00%, 3/15/12 | 500,625 | ||
| 998 | Universal Compression, Term Loan, | ||
| Libor + 1.75%, 2/15/12 | 1,009,345 | ||
| 13,142,976 | |||
| Entertainment & Leisure1.6% | |||
| 990 | Boyd Gaming Corp., Term Loan B, LIBOR | ||
| + 1.50%, 6/30/11 | 999,075 | ||
| 500 | Country Road, Term Loan - Second | ||
| Lien, LIBOR, 7/15/13 | 506,250 | ||
| 985 | Loews Cineplex Entertainment Corp., | ||
| Term Loan B, LIBOR + 2.25%, 7/31/11 | 989,726 | ||
| 5,000 | MGM Studios, Inc., Term Loan B, LIBOR | ||
| + 2.25%, 4/08/12 | 5,050,000 | ||
| 2,000 | Penn National Gaming, Term Loan, | ||
| TBD, | 2,029,688 |
8
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Entertainment & Leisure(continued) | |||
| Wyndham Intl., Inc., | |||
| $ 912 | Term Loan B, LIBOR + 3.25%, | ||
| 5/10/11 | $ 915,383 | ||
| 86 | Term Loan CL, LIBOR + 3.25%, | ||
| 5/10/11 | 86,422 | ||
| 1,000 | Wynn Las Vegas LLC/Wynn Las Vegas | ||
| Cap. Corp., Term Loan, LIBOR + 2.125%, 12/14/11 | 1,009,500 | ||
| 11,586,044 | |||
| Financial Institutions1.0% | |||
| 956 | CCC Information Services, Inc., Term | ||
| Loan B, LIBOR + 2.75%, 8/20/10 | 965,119 | ||
| 959 | Conseco, Inc., Term Loan, LIBOR + | ||
| 3.50%, 6/22/10 | 966,093 | ||
| 1,607 | Global Cash Access, LLC, Term Loan, | ||
| LIBOR + 2.25%, 3/10/10 | 1,630,186 | ||
| 1,980 | SBA Senior Finance, Inc., Term Loan | ||
| B, LIBOR + 2.25%, 10/31/08 | 2,001,449 | ||
| 469 | Universal American Financial Corp., | ||
| Term Loan, LIBOR + 2.25%, 3/31/09 | 468,750 | ||
| 1,425 | Visant Holding Corp., Term Loan C, | ||
| LIBOR + 2.25%, 10/04/11 | 1,445,306 | ||
| 7,476,903 | |||
| Forest Products1.0% | |||
| MDCP Acquisitions, | |||
| 2,429 | Term Loan B3, LIBOR + 2.75%, | ||
| 12/31/08 | 2,426,858 | ||
| 2,429 | Term Loan C3, LIBOR + 2.75%, | ||
| 10/31/11 | 2,429,394 | ||
| SP Newsprint Co., | |||
| 1,611 | Term Loan B L/C, LIBOR + 1.09875%, | ||
| 1/09/08 | 1,633,264 | ||
| 685 | Term Loan, LIBOR + 2.25%, 1/08/10 | 694,137 | |
| 7,183,653 | |||
| Health Care4.4% | |||
| 2,772 | Accredo Health, Inc., Term Loan B, | ||
| LIBOR + 1.75%, 4/30/11 | 2,772,314 | ||
| 189 | Ameripath, Inc., Term Loan, LIBOR | ||
| + 3.25%, 3/27/10 | 190,361 | ||
| 828 | Colgate Medical, Ltd., Term Loan | ||
| B, LIBOR + 2.00%, 12/30/08 | 835,140 | ||
| 2,977 | Community Health Systems, Inc., Term | ||
| Loan, LIBOR + 1.75%, 8/19/11 | 3,014,099 | ||
| 2,517 | Concentra Operating Corp., Term Loan, | ||
| LIBOR + 2.50%, 6/30/10 | 2,547,562 | ||
| 2,000 | Davita Corp., Inc., Term Loan, TBD, | 2,030,278 | |
| 495 | Fisher Scientific Intl., Inc., Term | ||
| Loan B, LIBOR + 1.50%, 8/02/11 | 498,558 | ||
| HealthSouth Corp., | |||
| 2,363 | Term Loan, LIBOR + 2.50%, 6/14/07 | 2,390,555 | |
| 638 | Letter of Credit, LIBOR + 2.25%, | ||
| 2/28/10 | 645,070 | ||
| 2,000 | Term Loan - Senior, LIBOR + | ||
| 5.00%, 6/15/10 | 2,025,000 | ||
| 748 | Healthtronics, Inc., Term Loan B, | ||
| LIBOR + 1.75%, 3/24/11 | 753,736 | ||
| 990 | IASIS Healthcare Corp., Term Loan | ||
| B, LIBOR + 2.25%, 6/30/11 | 1,001,668 | ||
| 2,978 | Jean Coutu Group, Inc., Term Loan | ||
| B, LIBOR + 2.25%, 7/30/11 | 3,022,627 | ||
| 776 | Kinetic Concepts, Inc., Term Loan | ||
| B2, LIBOR + 1.75%, 8/11/10 | 783,827 | ||
| 495 | Medical Device Manufacturing, Inc., | ||
| Term Loan B, LIBOR + 2.25%, 6/29/10 | 497,166 | ||
| 995 | Pacificare Health Systems, Inc., | ||
| Term Loan, LIBOR + 1.50%, 12/13/10 | 997,281 | ||
| 998 | Select Medial Corp., Term Loan B, | ||
| LIBOR + 1.75%, 2/24/12 | 1,000,773 | ||
| 1,493 | Vanguard Health Systems, Term Loan, | ||
| LIBOR + 3.25%, 9/30/11 | 1,514,887 | ||
| Warner Chilcott, Term Loan Delayed | |||
| Draw, | |||
| 441 | Unfunded + 1.375%, 1/31/06 | 444,951 | |
| 88 | Unfunded + 1.375%, 6/30/06 | 89,196 | |
| 2,178 | Term Loan B, LIBOR + 2.75%, | ||
| 1/18/12 | 2,199,574 | ||
| 878 | Term Loan C, LIBOR + 2.75%, | ||
| 1/18/12 | 886,321 | ||
| 406 | Term Loan D, LIBOR + 2.75%, | ||
| 1/18/12 | 410,482 | ||
| 990 | Wellcare Holdings, Inc., Term Loan, | ||
| LIBOR + 4.00%, 5/13/09 | 992,475 | ||
| 31,543,901 | |||
| Home Furnishing0.1% | |||
| 473 | Sealy, Term Loan D, Libor + 1.75%, | ||
| 4/06/12 | 476,706 | ||
| Hotels & Casino0.8% | |||
| 2,820 | Greektown Casino LLC, Term Loan D, | ||
| LIBOR + 3.50%, 12/31/05 | 2,823,402 | ||
| 494 | Green Valley Ranch Gaming, LLC, Term | ||
| Loan B, LIBOR + 2.00%, 12/24/10 | 499,324 | ||
| 1,244 | Isle of Capri, Loan Term, Libor + | ||
| 1.75%, 2/04/11 | 1,255,799 | ||
| 1,250 | Motor City, Term Loan, TBD, | 1,261,875 | |
| 5,840,400 |
9
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Industrials1.6% | |||
| $ 251 | Alderwoods Group, Inc., Term Loan | ||
| B2, LIBOR + 2.00%, 9/29/09 | $ 253,705 | ||
| 988 | Arinc, Inc., Term Loan B, LIBOR + | ||
| 2.00%, 3/10/11 | 1,001,078 | ||
| 3,206 | Buhrmann U.S., Inc., Term Loan C1, | ||
| LIBOR + 2.50%, 12/30/10 | 3,260,470 | ||
| New Flyer, Inc., | |||
| 381 | Term Loan CL, LIBOR + 2.75%, | ||
| 2/27/10 | 385,714 | ||
| 970 | Term Loan B, LIBOR + 2.75%, | ||
| 2/27/10 | 980,479 | ||
| 865 | Novelis, Inc., Term B, LIBOR + 1.75%, | ||
| 1/6/12 | 876,202 | ||
| Sensus Metering Systems, Inc., | |||
| 1272 | Term Loan B1, LIBOR + 2.50%, | ||
| 12/17/10 | 1,281,277 | ||
| 191 | Term Loan B2, LIBOR + 2.50%, | ||
| 12/17/10 | 192,192 | ||
| 1,810 | United Rentals NA, Inc., Term Loan | ||
| B, LIBOR + 2.25%, 2/14/11 | 1,829,879 | ||
| 1,756 | Worldspan, LP, Term Loan, LIBOR + | ||
| 2.75%, 2/16/10 | 1,711,667 | ||
| 11,772,663 | |||
| Insurance0.4% | |||
| 1,500 | 2 10 Hbw Term B, Loan Term, TBD, | 1,503,750 | |
| 250 | New Customer Co., 2nd Lien, Term | ||
| Loan, LIBOR + 7.00%, 6/30/12 | 251,250 | ||
| 1,000 | New Customer Company 1St Lien, Loan | ||
| Term, LIBOR + 2.00%, 7/08/11 | 1,012,500 | ||
| 2,767,500 | |||
| Media5.9% | |||
| 1,746 | American Lawyers Media, Inc., Term | ||
| Loan 1st Lien, LIBOR + 2.50%, 3/05/10 | 1,745,625 | ||
| 4,000 | Century TCI California LP, Term Loan, | ||
| PRIME + 2.00%, 06/30/09 | 3,955,000 | ||
| 3,461 | Charter Communications Operating, | ||
| LLC, Term Loan B, LIBOR + 3.25%, 4/27/11 | 3,443,702 | ||
| 750 | Choice Cable Term 2Nd, Term Loan, | ||
| TBD, | 755,625 | ||
| 3,821 | Dex Media West, LLC, Term Loan B, | ||
| LIBOR + 1.75%, 3/09/10 | 3,870,051 | ||
| 2,333 | DirecTV Holdings, LLC, Term Loan | ||
| B, LIBOR + 1.50%, 4/13/13 | 2,355,416 | ||
| 2,985 | Emmis Operating Co., Term Loan B, | ||
| LIBOR + 1.75%, 11/10/11 | 3,013,731 | ||
| 2,588 | Insight Midwest, Term Loan C, LIBOR | ||
| + 2.00%, 12/31/09 | 2,617,656 | ||
| 2,000 | Mediacom Communications Corp., Term | ||
| Loan C, LIBOR + 2.00%, 2/01/14 | 2,021,944 | ||
| 1,985 | Mediacom Illinois LLC, Term Loan | ||
| B, LIBOR + 2.25%, 3/31/13 | 2,011,190 | ||
| 1,946 | Mission Broadcasting, Inc., Term | ||
| Loan B, LIBOR + 1.75%, 8/14/12 | 1,955,645 | ||
| 500 | NEP Supershooters 2Nd Lien, Term | ||
| Loan, Libor + 8.00%, 2/01/11 | 492,500 | ||
| 2,054 | Nexstar Broadcasting, Inc., Term | ||
| Loan, LIBOR + 1.75%, 8/14/12 | 2,064,355 | ||
| 3,000 | NTL Investment Holding Ltd., Term | ||
| Loan B, LIBOR + 3.00%, 5/19/12 | 3,022,500 | ||
| 2,500 | Raycom Media, Inc., Term Loan B, | ||
| LIBOR + 1.75%, 3/31/12 | 2,518,750 | ||
| 1,267 | Relizon Co., Term Loan, LIBOR + 3.00%, | ||
| 2/20/11 | 1,269,029 | ||
| 1,250 | San Pascuale Band of Indians, Term | ||
| Loan, LIBOR + 2.50%, 8/31/08 | 1,250,000 | ||
| 2,000 | UPC Distribution Corp., Term Loan, | ||
| LIBOR + 2.75%, 09/30/12 | 2,012,222 | ||
| 1,974 | Warner Music Group, Corp., Term Loan | ||
| B, LIBOR + 2.00%, 2/28/11 | 1,991,463 | ||
| 42,366,404 | |||
| Oil & Gas Services0.4% | |||
| 1,500 | Coffeyville Term 1, Loan Term B, | ||
| Libot + 2.50%, 6/24/12 | 1,525,000 | ||
| 500 | Magellan Midstream Term B, Loan Term, | ||
| Libor, 7/15/12 | 507,500 | ||
| 750 | Petrohawk, Term Loan Second Lien, | ||
| Prime + 3.50%, 7/31/10 | 752,813 | ||
| 2,785,313 | |||
| Publishing0.1% | |||
| 750 | Endurance Business Media, Term Loan | ||
| B, LIBOR + 2.75%, 3/08/12 | 760,312 | ||
| Real Estate1.2% | |||
| 1,217 | Crescent Real Estate Equities LP, | ||
| Term Loan, LIBOR + 2.25%, 1/12/06 | 1,226,608 | ||
| General Growth Properties, | |||
| 1,890 | Term Loan A, LIBOR + 2.25%, | ||
| 11/12/07 | 1,906,433 | ||
| 3,008 | Term Loan B, LIBOR + 2.20%, | ||
| 11/12/08 | 3,046,199 | ||
| Macerich Partnership, L.P., Term | |||
| Loan, | |||
| 500 | LIBOR + 1.60%, 4/25/06 | 500,000 | |
| 1,000 | Prime + .5%, 4/25/10 | 1,002,500 | |
| Masonite Intl., | |||
| 250 | Term Loan, Libor + 2.00%, 4/16/13 | 250,024 | |
| 249 | Term Loan - Canadian, Libor | ||
| + 2.00%, 4/16/13 | 249,599 | ||
| 731 | Stewart Enterprises, Term Loan B, | ||
| LIBOR + 1.75%, 11/19/11 | 736,541 | ||
| 8,917,904 |
10
BlackRock Limited Duration Income Trust (BLW) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Retailers0.1% | ||||
| $ 998 | Eye Care Centers, Term Loan B, LIBOR | |||
| + 3.00%, 2/16/12 | $ 1,003,111 | |||
| Technology0.8% | ||||
| 499 | Federal IT Systems, Inc., Term Loan, | |||
| LIBOR + 2.75%, 4/30/11 | 503,426 | |||
| 3,217 | Knowles Electronics, Inc., Term Loan | |||
| B2, LIBOR + 5.00%, 6/29/07 | 3,232,857 | |||
| 1,484 | Verifone, Inc., Term Loan B, LIBOR | |||
| + 2.00%, 6/30/11 | 1,490,847 | |||
| 247 | Westcom Corp., Term Loan B, LIBOR | |||
| + 2.75%, 12/16/10 | 248,271 | |||
| 5,475,401 | ||||
| Telecommunications3.5% | ||||
| 250 | AAT Communications, Term Loan - First | |||
| Lien, Libor + 1.75%, 7/27/12 | 253,125 | |||
| 1,000 | Alaska Communications Systems Holdings, | |||
| Term Loan, LIBOR + 2.00%, 1/31/12 | 1,012,917 | |||
| 1,000 | Atlantic Broadband Finance, LLC, | |||
| Term Loan B1, LIBOR + 2.75%, 8/4/12 | 1,013,750 | |||
| 1,484 | Centennial Cellular Operating Co., | |||
| Term Loan, LIBOR + 2.25%, 2/09/11 | 1,505,721 | |||
| 1,481 | Consolidated Communications, Inc., | |||
| Term Loan C, LIBOR + 2.25%, 10/14/11 | 1,499,766 | |||
| 1,000 | Fairpont Communications, Inc., Term | |||
| Loan B, LIBOR + 2.00%, 2/08/12 | 1,012,000 | |||
| 1,247 | Freedom Communications, Inc., Term | |||
| Loan B, LIBOR + 1.50%, 5/01/13 | 1,259,344 | |||
| 995 | Intelsat Bermuda, Ltd., Loan Term, | |||
| LIBOR + 1.75%, 7/28/11 | 1,002,960 | |||
| 2,000 | Iowa Telecommunications Services, | |||
| Inc., Term Loan B, LIBOR + 2.00%, 11/30/11 | 2,024,376 | |||
| 1,000 | Madison River Term B, Term Loan, | |||
| Libor + 2.50%, 7/29/12 | 1,016,250 | |||
| 2,500 | Nextel Partners, Term Loan D, LIBOR | |||
| + 1.50%, 5/31/12 | 2,514,375 | |||
| 746 | Ntelos, Inc., Term Loan First Lien, | |||
| LIBOR + 2.50%, 8/25/11 | 746,810 | |||
| 2,000 | Qwest Corp., Term Loan A, LIBOR + | |||
| 4.75%, 6/30/07 | 2,064,376 | |||
| 2,000 | Satbirds Finance, Term Loan, LIBOR | |||
| + 4.25%, 10/15/13 | 2,418,870 | |||
| 1,960 | Valor Telecommunications, Term Loan | |||
| B, LIBOR + 2.00%, 12/14/12 | 1,979,951 | |||
| Western Wireless Corp., Term Loan | ||||
| B, | ||||
| 2,830 | LIBOR + 3.00%, 5/30/11 | 2,832,861 | ||
| 1,140 | PRIME + 2.00%, 5/30/11 | 1,140,684 | ||
| 25,298,136 | ||||
| Transportation0.4% | ||||
| 990 | Kenan Advantage Group, Inc., Term | |||
| Loan, LIBOR + 3.50%, 6/30/10 | 999,900 | |||
| 1,000 | Sirva Worldwide, Inc., Term Loan, | |||
| LIBOR + 3.00%, 12/1/10 | 958,750 | |||
| 620 | Transport Industries, LP, Term Loan | |||
| B, LIBOR + 4.00%, 6/14/10 | 623,168 | |||
| 2,581,818 | ||||
| Total Bank Loans | 320,015,051 | |||
| U.S. Government and Agency Securities6.2% | ||||
| U.S. Treasury Notes, | ||||
| 20,425 | 2 | 3.375%, 12/15/08 - 9/15/09 | 19,950,911 | |
| 10,000 | 2 | 3.75%, 3/31/07 | 9,960,900 | |
| 6,000 | 2 | 3.875%, 5/15/09 | 5,950,320 | |
| 8,660 | 2 | 4.25%, 11/15/13 | 8,664,070 | |
| Total U.S. Government and Agency | ||||
| Securities | 44,526,201 | |||
| Foreign Government Bonds2.5% | ||||
| B+ | 1,190 | Bolivarian Republic of Venezuela, | ||
| 3.625%, 6/20/05 | 1,187,438 | |||
| BB | 5,000 | Republic of Colombia, 9.75%, 4/23/09 | 5,675,000 | |
| BB | 5,000 | Republic of Peru, 9.125%, 2/21/12 | 5,897,500 | |
| BB- | 5,000 | Republic of Turkey, 11.375%, 11/27/06 | 5,437,500 | |
| Total Foreign Government Bonds | 18,197,438 | |||
| Warrants0.0% | ||||
| 10 | 4 | Reliant Resources, Inc., Expires | ||
| 8/25/08, strike price $0.001, 1 share for 1 warrant | 81,319 | |||
| Total Long-Term Investments144.9% (cost $1,031,048,167 5 ) | 1,043,690,044 | |||
| Liabilities in excess of other assets(44.9)% | (323,634,364) | |||
| Net Assets100% | $ 720,055,680 |
| 1 | Using the higher of Standard &
Poors, Moodys Investor Service or Fitch Ratings. |
| --- | --- |
| 2 | Entire or partial principal amount
pledged as collateral for reverse repurchase agreements. |
| 3 | Security is not registered under
the Securities Act of 1933. These securities may be resold in transactions in accordance
with Rule 144A under that Act, to qualified institutional buyers. As of July 31,
2005, the Trust held 15.5% of it nets assets, with a current market value of $111,251,437,
in securities restricted as to resale. |
| 4 | Illiquid security. |
| 5 | Cost for Federal income tax purposes
is $1,031,157,480. The net unrealized appreciation on a tax basis is $12,532,564,
consisting of $20,340,578 gross unrealized appreciation and $7,808,014 gross unrealized
depreciation. |
11
Item 2. Controls and Procedures.
(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrants disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrants management , including it principle executive and principle financial officers, as appropriate to allow timely decisions regarding required disclosure.
(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 (17 CFR 270.30a -3(d)) 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.
Separate certifications of the registrants principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.
SIGNATURES
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.
(Registrant) BlackRock Limited Duration Income Trust
By: /s/ Henry Gabbay Name: Henry Gabbay Title: Treasurer Date: September 28, 2005
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/ Robert S. Kapito Name: Robert S. Kapito Title: Principal Executive Officer Date: September 28, 2005
By: /s/ Henry Gabbay Name: Henry Gabbay Title: Principal Financial Officer Date: September 28, 2005
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