c33517_n-q

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: 811-07250
 
 
The BlackRock Broad Investment Grade 2009 Term Trust Inc.
(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
The BlackRock Broad Investment Grade 2009 Term Trust Inc.
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, 2004 
 
   
Date of reporting period: July 31, 2004 
 


Item 1. Schedule of Investments

The Trust's schedule of investments pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

CONSOLIDATED PORTFOLIO OF INVESTMENTS (unaudited)
JULY 31, 2004

BlackRock Broad Investment Grade 2009 Term Trust Inc. (BCT)

        Principal                  
        Amount                  
    Rating1   (000)   Description         Value    
            LONG-TERM INVESTMENTS—135.1%        
            Mortgage Pass-Throughs—1.4%        
            Federal National Mortgage Assoc.,     
        $    627      5.50%, 1/01/17 - 2/01/17       $       645,077  
        26      6.50%, 7/01/29         27,128  
                   
 
            Total Mortgage Pass-Throughs         672,205  
                   
 
            Agency Multiple Class Mortgage Pass-Throughs—14.7%        
            Federal Home Loan Mortgage Corp.,     
        2168      Ser. 1510, Class G, 7.05%, 5/15/13         2,361,320  
        107      Ser. 1512, Class H, 6.50%, 2/15/08         108,759  
        400      Ser. 1534, Class IG, 5.00%, 2/15/10         407,790  
        2,000      Ser. 1598, Class J, 6.50%, 10/15/08         2,144,340  
            Federal National Mortgage Assoc.,     
        128      Ser. 13, Class SJ, 8.75%, 2/25/09         133,100  
        100      Ser. 22, Class GN, 6.50%, 8/25/31         104,966  
        74      Ser. 43, Class E, 7.50%, 4/25/22         76,885  
        1,000      Ser. 49, Class H, 7.00%, 4/25/13         1,090,490  
        395      Ser. 214, Class SK, 10.00%, 12/25/08         420,599  
                   
 
            Total Agency Multiple Class Mortgage Pass-Throughs         6,848,249  
                   
 
            Inverse Floating Rate Mortgages—5.9%            
    AAA   320   Citicorp Mortgage Securities, Inc., Ser. 14, Class A-4, 22.885%, 11/25/23     345,560  
            Federal Home Loan Mortgage Corp.,     
        336      Ser. 1425, Class SB, 22.169%, 12/15/07         412,420  
        87      Ser. 1506, Class S, 17.198%, 5/15/08         100,808  
        106      Ser. 1515, Class S, 17.699%, 5/15/08         128,095  
        73      Ser. 1618, Class SA, 8.25%, 11/15/08         73,549  
        101      Ser. 1621, Class SH, 11.74%, 11/15/22         104,547  
        100      Ser. 1661, Class SB, 17.524%, 1/15/09         122,473  
        314      Ser. 1688, Class S, 9.257%, 12/15/13         330,277  
            Federal National Mortgage Assoc.,     
        328      Ser. 187, Class SB, 20.512%, 10/25/07         385,628  
        165      Ser. 190, Class S, 21.224%, 11/25/07         195,504  
        212      Ser. 191, Class SD, 13.805%, 10/25/08         235,646  
        284      Ser. 214, Class SH, 14.556%, 12/25/08         308,270  
                   
 
            Total Inverse Floating Rate Mortgages         2,742,777  
                   
 
            Interest Only Mortgage-Backed Securities—11.4%        
            Federal Home Loan Mortgage Corp.,     
        182      Ser. 65, Class I, 8/15/20         2,282    
        63      Ser. 141, Class H, 5/15/21         896    
        151      Ser. 1114, Class J, 7/15/06         2,596    
        92      Ser. 1285, Class M, 5/15/07         1,575    
        796      Ser. 1645, Class IB, 9/15/08         53,564    
        738      Ser. 2462, Class NI, 8/15/21         58,696  
        963      Ser. 2513, Class BI, 12/15/15         54,949  
        1,970      Ser. 2523, Class EH, 4/15/20         312,776    
        2,108      Ser. 2543, Class IJ, 10/15/12         141,623    
        2,215      Ser. 2543, Class IM, 9/15/12         111,200    
        5,419      Ser. 2572, Class IT, 5/15/19         304,631    
        3,883      Ser. 2633, Class PI, 3/15/12         223,217    
        4,577      Ser. 2672, Class TP, 9/15/16         264,853    
        5,605      Ser. 2739, Class PI, 3/15/22         767,968    
        2,550      Ser. 2775, Class UB, 12/15/17         253,445    

1


BlackRock Broad Investment Grade 2009 Term Trust Inc. (BCT) (continued)

        Principal                  
        Amount                  
    Rating1   (000)   Description         Value    
            Interest Only Mortgage-Backed Securities—(cont’d)      
            Federal National Mortgage Assoc.,    
        $        394     Ser. 8, Class HA, 1/25/08     $              59,081  
        3,000     Ser. 13, Class IG, 10/25/22       314,730    
        390     Ser. 20, Class SL, 9/25/08       76,560    
        47     Ser. 39, Class PE, 1/25/23       1,313    
        21     Ser. 42, Class SO, 3/25/23       131    
        1,047     Ser. 49, Class L, 4/25/13       80,149    
        934     Ser. 51, Class K, 4/25/07       99,908    
        12,992     Ser. 70, Class ID, 4/25/22       1,729,885    
        98     Ser. 72, Class H, 7/25/06       9,225    
        235     Ser. 80, Class PI, 9/25/23       1,645    
        1,885     Ser. 82, Class IR, 9/25/12       105,470    
        748     Ser. 90, Class M, 1/25/28       158,773    
        6     Ser. 174, Class S, 9/25/22       19,361    
        226     Ser. 194, Class PV, 6/25/08       8,376    
        693     Ser. 208, Class S, 2/25/23       28,583    
        210     Ser. 223, Class PT, 10/25/23       19,460    
        6     Ser. G-21, Class L, 7/25/21       8,759    
        18   PNC Mortgage Securities Corp., Ser. 8, Class 4-X, 10/25/13       851  
        3,647   Structured Asset Securities Corp., Ser. ALS1, Class 3AX, 5/25/29       1,037  
        24,633   Vendee Mortgage Trust, Ser. 1, Class IO, 10/15/31       30,298  
                   
 
            Total Interest Only Mortgage-Backed Securities       5,307,866  
                   
 
            Principal Only Mortgage-Backed Securities—0.1%          
    Aaa   42   Salomon Brothers Mortgage Securities Inc. VI, Ser. 3, Class A, 10/23/17       38,949  
                   
 
            Commercial Mortgage-Backed Securities—1.7%          
    AAA   750 2 New York City Mortgage Loan Trust, Multi-Family, Class A2, 6.75%, 6/25/11       797,698  
                   
 
            Asset-Backed Securities—0.0%          
    NR   238 2,3,4 Global Rated Eligible Asset Trust, Ser. A, Class 1, 7.33%, 9/15/07       4,757  
            Structured Mortgage Asset Residential Trust,    
    NR   575 3,4   Ser. 2, 8.24%, 3/15/06       5,749    
    NR   637 3,4 Ser. 3, 8.724%, 4/15/06       6,373    
                   
 
            Total Asset-Backed Securities       16,879  
                   
 
            Corporate Bonds—9.9%          
            Chemical—2.6%          
    A+   1,000   Dow Capital BV, 9.20%, 6/01/10 (Netherlands)       1,205,880  
                   
 
            Consumer Products—1.1%          
    BBB+   500   General Mills, 8.75%, 9/15/04       503,915  
                   
 
            Energy—1.2%          
    BBB+   500 2 Israel Electric Corp., Ltd., 7.25%, 12/15/06 (Israel)       537,020  
                   
 
            Finance & Banking—3.7%          
    AA-   1,000 5 Morgan Stanley Group, Inc., 10.00%, 6/15/08       1,202,740  
    AA+   500   UBS PaineWebber Group, Inc., 8.875%, 3/15/05       518,035  
                   
 
                    1,720,775    
                   
 
            Telecommunication—1.1%          
    A   500   ALLTEL Corp., 7.50%, 3/01/06       533,825  
                   
 
            Transportation—0.2%          
    Caa2   100   American Airlines, Inc., 10.44%, 3/04/07       79,750  
                   
 
            Total Corporate Bonds       4,581,165  
                   
 
            U.S. Government and Agency Securities—82.7%          
        212   Small Business Investment Companies, Ser. P10A, Class 1, 6.12%, 2/01/08       224,031  
        27,000 5 U.S. Treasury Bond, zero coupon, 11/15/09       21,888,495  
            U.S. Treasury Notes,    
        3,200     3.50%, 11/15/06       3,247,002    
        7,000 5   4.375%, 8/15/12       7,039,411    
        1,700     5.75%, 11/15/05       1,774,441    
        3,550     6.00%, 8/15/09       3,919,562    
        385     6.625%, 5/15/07       421,695    
                   
 
            Total U.S. Government and Agency Securities       38,514,636  
                   
 

2

BlackRock Broad Investment Grade 2009 Term Trust Inc. (BCT) (continued)

        Principal                  
        Amount                  
    Rating1   (000)   Description         Value    
            Taxable Municipal Bonds—7.2%          
    AAA   $       500   Fresno California Pension Oblig., 7.80%, 6/01/14     $           604,555  
    AAA   500   Kern County California Pension Oblig., 6.98%, 8/15/09       559,070    
            Los Angeles County California Pension Oblig.,    
    AAA   1,000       Ser. A, 8.62%, 6/30/06       1,106,630    
    AAA   500       Ser. D, 6.97%, 6/30/08       552,795    
    AAA   500   Orleans Parish Louisiana School Board, Ser. A, 6.60%, 2/01/08       541,635    
                 
   
            Total Taxable Municipal Bonds       3,364,685    
                 
   
            Total Long-Term Investments (cost $62,037,197)       62,885,110  
                 
   
            SHORT-TERM INVESTMENT—10.7%            
            U.S. Government Agency Security—10.7%            
        5,000   Federal Home Loan Bank, zero coupon, 8/02/04 (cost $4,999,822)       4,999,822    
                   
   
            Total Investments—145.8% (cost $67,037,019)       67,884,932  
            Liabilities in excess of other assets—(45.8)%       (21,323,845)  
                 
   
            Net Assets—100%     $     46,561,087  
                 
   

1

   Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch Ratings ratings.
     
2   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, 2004, the Trust held 2.9% of its net assets, with a current market value of $1,339,475, in securities restricted as to resale.
     
3   Security is fair valued.
     
4   Illiquid securities representing 0.04% of net assets.
     
5   Entire or partial principal amount pledged as collateral for reverse repurchase agreements.

3

Item 2. Controls and Procedures

(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.

(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

(a) Separate certifications of Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

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) The BlackRock Broad Investment Grade 2009 Term Trust Inc.
 
 

 

By: /s/ Henry Gabbay  
 
 
Name: Henry Gabbay  
Title: Treasurer  
Date: September 28, 2004  

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, 2004  

 

By: /s/ Henry Gabbay  
 
 
Name: Henry Gabbay  
Title: Principal Financial Officer  
Date: September 28, 2004