UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-07354

 

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

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

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

 

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

 

Date of fiscal year end: 04/30/2012

 

Date of reporting period: 01/31/2012

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments January 31, 2012 (Unaudited)

BlackRock Investment Quality Municipal Trust Inc. (BKN)
 (Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 3.5%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

6.00%, 6/01/34

 

$

1,745

 

$

2,013,939

 

6.00%, 6/01/39

 

 

500

 

 

573,450

 

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

 

 

3,150

 

 

3,335,315

 

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

 

 

3,050

 

 

3,180,784

 

 

 

 

 

 

 

9,103,488

 

Arizona — 8.4%

 

 

 

 

 

 

 

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

 

 

2,750

 

 

2,773,457

 

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

 

 

475

 

 

579,320

 

County of Pinal Arizona Election District
No. 3, Refunding RB, 4.75%, 7/01/31

 

 

3,750

 

 

3,974,812

 

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

 

 

1,800

 

 

2,053,800

 

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

 

 

1,375

 

 

1,435,720

 

Salt Verde Financial Corp., RB, Senior:

 

 

 

 

 

 

 

5.00%, 12/01/32

 

 

1,035

 

 

1,030,953

 

5.00%, 12/01/37

 

 

4,585

 

 

4,551,805

 

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

 

 

 

 

 

 

 

6.25%, 5/01/15

 

 

405

 

 

396,985

 

7.00%, 5/01/20

 

 

490

 

 

489,716

 

7.25%, 5/01/27

 

 

980

 

 

900,012

 

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

 

 

1,100

 

 

1,210,055

 

University Medical Center Corp. Arizona,
RB:

 

 

 

 

 

 

 

6.00%, 7/01/39

 

 

1,600

 

 

1,770,848

 

6.50%, 7/01/39

 

 

750

 

 

846,188

 

 

 

 

 

 

 

22,013,671

 

California — 23.3%

 

 

 

 

 

 

 

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

 

 

7,090

 

 

83,024

 

California Educational Facilities
Authority, RB, 5.00%, 2/01/40

 

 

3,000

 

 

3,280,980

 

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

 

 

2,300

 

 

2,724,396

 

Carlsbad Unified School District, GO,
Election of 2006, Series B, 0.00%,
5/01/34 (b)

 

 

1,500

 

 

1,118,370

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

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

 

$

3,000

 

$

3,314,640

 

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

 

 

2,100

 

 

2,220,183

 

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

 

 

 

 

 

 

 

5.63%, 8/01/31

 

 

250

 

 

288,520

 

5.75%, 8/01/33

 

 

535

 

 

619,535

 

Foothill Eastern Transportation Corridor
Agency California, Refunding RB:

 

 

 

 

 

 

 

5.75%, 1/15/40

 

 

3,495

 

 

3,397,909

 

CAB, 5.88%, 1/15/28

 

 

7,000

 

 

7,110,600

 

Hartnell Community College District
California, GO, CAB, Election of 2002,
Series D, 0.00%, 8/01/34 (b)

 

 

2,475

 

 

1,647,261

 

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

 

 

12,000

 

 

2,864,040

 

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

 

 

 

 

 

 

 

6.09%, 8/01/30 (a)

 

 

2,270

 

 

912,063

 

6.15%, 8/01/33 (a)

 

 

4,250

 

 

1,169,813

 

0.00%, 8/01/39 (b)

 

 

3,000

 

 

1,626,060

 

San Diego Community College District
California, GO, CAB, Election of 2002,
0.00%, 8/01/19 (b)

 

 

4,200

 

 

3,166,338

 

State of California, GO, Various Purpose:

 

 

 

 

 

 

 

5.75%, 4/01/31

 

 

3,000

 

 

3,459,330

 

6.00%, 3/01/33

 

 

2,270

 

 

2,696,351

 

6.50%, 4/01/33

 

 

2,900

 

 

3,566,826

 

5.50%, 3/01/40

 

 

3,650

 

 

4,091,760

 

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

 

 

5,000

 

 

5,286,250

 

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

 

 

5,000

 

 

5,257,350

 

State of California, GO, Refunding,
Various Purpose (CIFG), 4.50%,
8/01/28

 

 

1,000

 

 

1,051,130

 

 

 

 

 

 

 

60,952,729

 

Colorado — 0.3%

 

 

 

 

 

 

 

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

 

 

750

 

 

848,723

 

Connecticut — 2.5%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facilities Authority, RB:

 

 

 

 

 

 

 

Hartford Healthcare, Series A,
5.00%, 7/01/32

 

 

2,140

 

 

2,304,737

 

Lawrence & Memorial
Hospital, Series F, 5.00%,
7/01/36

 

 

1,900

 

 

2,008,053

 

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

 

 

600

 

 

655,812

 

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JANUARY 31, 2012

1


 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)
 (Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Connecticut (concluded)

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facilities Authority, RB (concluded):

 

 

 

 

 

 

 

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

 

$

1,300

 

$

1,419,860

 

 

 

 

 

 

 

6,388,462

 

Delaware — 0.7%

 

 

 

 

 

 

 

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

 

 

1,800

 

 

1,866,132

 

District of Columbia — 1.5%

 

 

 

 

 

 

 

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

 

 

3,500

 

 

3,792,460

 

Florida — 12.3%

 

 

 

 

 

 

 

County of Lee Florida, Refunding RB,
Lee Airport, Series A (AGM), 5.00%,
10/01/28

 

 

3,000

 

 

3,248,280

 

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

 

 

 

 

 

 

 

5.20%, 10/01/32

 

 

4,225

 

 

1,313,468

 

6.69%, 10/01/32

 

 

5,000

 

 

1,568,200

 

5.21%, 10/01/33

 

 

4,000

 

 

1,160,640

 

6.79%, 10/01/33

 

 

15,375

 

 

4,520,865

 

5.21%, 10/01/34

 

 

4,580

 

 

1,235,959

 

5.22%, 10/01/35

 

 

5,000

 

 

1,261,300

 

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

 

 

5,000

 

 

5,198,950

 

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

 

 

3,700

 

 

3,441,740

 

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

 

 

3,525

 

 

3,023,392

 

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

 

 

6,035

 

 

6,080,383

 

 

 

 

 

 

 

32,053,177

 

Georgia — 0.7%

 

 

 

 

 

 

 

Milledgeville & Baldwin County
Development Authority, RB, Georgia
College & State University Foundation,
6.00%, 9/01/33

 

 

1,500

 

 

1,729,665

 

Idaho — 1.1%

 

 

 

 

 

 

 

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

 

 

2,500

 

 

2,921,100

 

Illinois — 11.6%

 

 

 

 

 

 

 

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

 

 

5,000

 

 

6,724,050

 

City of Chicago Illinois Transit Authority,
RB, Sales Tax Receipt, 5.25%,
12/01/40

 

 

1,000

 

 

1,115,390

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

Illinois Finance Authority, RB:

 

 

 

 

 

 

 

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

 

$

700

 

$

105,028

 

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

 

 

1,925

 

 

2,042,618

 

Northwestern Memorial
Hospital, Series A, 5.50%,
8/15/43

 

 

5,800

 

 

6,517,344

 

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

 

 

1,500

 

 

1,629,765

 

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

 

 

1,200

 

 

1,413,816

 

Illinois Finance Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

345

 

 

290,566

 

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

 

 

1,535

 

 

1,709,560

 

Railsplitter Tobacco Settlement
Authority, RB:

 

 

 

 

 

 

 

6.25%, 6/01/24

 

 

6,000

 

 

6,714,060

 

6.00%, 6/01/28

 

 

1,700

 

 

1,906,244

 

 

 

 

 

 

 

30,168,441

 

Indiana — 1.8%

 

 

 

 

 

 

 

Indiana Finance Authority, RB, 5.25%,
10/01/38

 

 

3,000

 

 

3,354,180

 

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

 

 

1,350

 

 

1,371,978

 

 

 

 

 

 

 

4,726,158

 

Iowa — 1.6%

 

 

 

 

 

 

 

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

 

 

1,480

 

 

1,622,317

 

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

 

 

 

 

 

 

 

5.75%, 9/01/30

 

 

965

 

 

1,035,146

 

6.00%, 9/01/39

 

 

1,500

 

 

1,572,945

 

 

 

 

 

 

 

4,230,408

 

Kansas — 0.5%

 

 

 

 

 

 

 

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

 

 

1,155

 

 

1,292,491

 

Kentucky — 2.9%

 

 

 

 

 

 

 

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

 

 

8,500

 

 

5,032,850

 

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JANUARY 31, 2012

2


 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Kentucky (concluded)

 

 

 

 

 

 

 

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

 

$

2,250

 

$

2,414,722

 

 

 

 

 

 

 

7,447,572

 

Louisiana — 2.9%

 

 

 

 

 

 

 

Jefferson Parish Hospital Service District
No. 1, Refunding RB, Jefferson
Medical Center, Series A, 6.00%,
1/01/39

 

 

1,800

 

 

2,002,032

 

Louisiana Local Government
Environmental Facilities & Community
Development Authority, RB, Westlake
Chemical Corp., Series A-1, 6.50%,
11/01/35

 

 

1,565

 

 

1,709,168

 

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

 

 

600

 

 

650,676

 

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

 

 

3,000

 

 

3,154,350

 

 

 

 

 

 

 

7,516,226

 

Maryland — 1.7%

 

 

 

 

 

 

 

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

 

 

180

 

 

186,574

 

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

 

 

4,100

 

 

4,189,339

 

 

 

 

 

 

 

4,375,913

 

Michigan — 2.1%

 

 

 

 

 

 

 

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

 

 

1,875

 

 

2,173,406

 

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

 

 

2,750

 

 

3,400,705

 

 

 

 

 

 

 

5,574,111

 

Minnesota — 2.1%

 

 

 

 

 

 

 

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

 

 

3,500

 

 

4,131,680

 

Tobacco Securitization Authority
Minnesota, Refunding RB, Tobacco
Settlement, 5.25%, 3/01/31

 

 

1,200

 

 

1,301,640

 

 

 

 

 

 

 

5,433,320

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Mississippi — 3.5%

 

 

 

 

 

 

 

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

 

$

1,910

 

$

2,082,836

 

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

 

 

2,655

 

 

3,000,999

 

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

 

 

3,150

 

 

3,538,080

 

Warren County Mississippi, RB, Gulf
Opportunity Zone Bonds (International
Paper Company Project), Series A,
AMT, 5.38%, 12/01/35

 

 

600

 

 

627,708

 

 

 

 

 

 

 

9,249,623

 

Missouri — 1.3%

 

 

 

 

 

 

 

Missouri State Development Finance
Board, RB, St. Joseph Sewage System
Improvements, 5.25%, 5/01/31

 

 

620

 

 

654,770

 

Missouri State Health & Educational
Facilities Authority, RB:

 

 

 

 

 

 

 

A.T. Still University Health
Sciences, 5.25%, 10/01/31

 

 

500

 

 

545,900

 

Lutheran Senior Services,
6.00%, 2/01/41

 

 

1,500

 

 

1,593,135

 

A.T. Still University Health
Sciences, 5.25%, 10/01/41

 

 

650

 

 

694,135

 

 

 

 

 

 

 

3,487,940

 

Montana — 0.5%

 

 

 

 

 

 

 

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

 

 

1,250

 

 

1,328,738

 

Nebraska — 2.9%

 

 

 

 

 

 

 

City of Omaha, RB, 4.25%, 11/15/38

 

 

2,840

 

 

2,995,831

 

Nebraska Investment Finance Authority,
Refunding RB, Series A:

 

 

 

 

 

 

 

5.90%, 9/01/36

 

 

1,700

 

 

1,885,708

 

6.05%, 9/01/41

 

 

1,415

 

 

1,503,650

 

Omaha Nebraska Sanitation Sewer
Revenue, RB, System, 4.25%,
11/15/41

 

 

1,170

 

 

1,229,260

 

 

 

 

 

 

 

7,614,449

 

Nevada — 0.4%

 

 

 

 

 

 

 

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

 

 

1,065

 

 

1,118,090

 

New Jersey — 6.2%

 

 

 

 

 

 

 

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

 

 

1,510

 

 

135,145

 

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JANUARY 31, 2012

3


 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)
 (Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (concluded)

 

 

 

 

 

 

 

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

 

$

5,250

 

$

5,485,935

 

New Jersey Educational Facilities
Authority, Refunding RB, University of
Medicine & Dentistry, Series B:

 

 

 

 

 

 

 

7.13%, 12/01/23

 

 

950

 

 

1,183,016

 

7.50%, 12/01/32

 

 

1,225

 

 

1,496,827

 

New Jersey Health Care Facilities
Financing Authority, Refunding RB,
Barnabas Health, Series A:

 

 

 

 

 

 

 

4.63%, 7/01/23

 

 

770

 

 

781,435

 

5.63%, 7/01/37

 

 

2,560

 

 

2,688,691

 

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

 

 

770

 

 

832,801

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System,
5.25%, 6/15/36

 

 

2,860

 

 

3,217,929

 

Union County Utilities Authority, RB, Ref-
county Deficiency Agreement-, 4.00%,
6/15/32

 

 

250

 

 

264,458

 

Union County Utilities Authority,
Refunding RB, Ref-county Deficiency
Agreement-, 5.00%, 6/15/41

 

 

95

 

 

106,702

 

 

 

 

 

 

 

16,192,939

 

New York — 7.1%

 

 

 

 

 

 

 

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

 

 

725

 

 

166,786

 

Hudson New York Yards Infrastructure
Corp., RB, Series A:

 

 

 

 

 

 

 

5.00%, 2/15/47

 

 

250

 

 

256,823

 

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

 

 

1,500

 

 

1,558,800

 

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

 

 

1,500

 

 

1,540,935

 

(NPFGC), 4.50%, 2/15/47

 

 

1,980

 

 

1,955,864

 

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

 

 

2,475

 

 

2,843,750

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

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

 

 

2,600

 

 

2,342,106

 

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

 

 

850

 

 

961,903

 

New York Convention Center
Development Corp., RB, Hotel Unit
Fee (AMBAC), 4.75%, 11/15/45

 

 

1,000

 

 

1,009,250

 

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

 

 

1,250

 

 

1,353,125

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

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

 

 

1,625

 

 

1,909,651

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

New York State Dormitory Authority, RB
(concluded):

 

 

 

 

 

 

 

University Rochester, 0.00%,
7/01/39 (b)

 

$

1,000

 

$

982,130

 

Westchester County Healthcare Corp.
New York, RB, Senior Lien, Series A,
Remarketing, 5.00%, 11/01/30

 

 

1,600

 

 

1,687,024

 

 

 

 

 

 

 

18,568,147

 

North Carolina — 6.2%

 

 

 

 

 

 

 

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

 

 

325

 

 

367,972

 

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

 

 

2,425

 

 

1,982,316

 

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

 

 

2,385

 

 

2,494,328

 

North Carolina Medical Care
Commission, RB, Novant Health
Obligation, Series A, 4.75%,
11/01/43

 

 

9,300

 

 

9,432,432

 

North Carolina Medical Care
Commission, Refunding RB, University
Health System, Series D, 6.25%,
12/01/33

 

 

1,750

 

 

2,033,220

 

 

 

 

 

 

 

16,310,268

 

Oklahoma — 0.5%

 

 

 

 

 

 

 

Tulsa Airports Improvement Trust, RB,
Series A, Mandatory Put Bonds, AMT,
7.75%, 6/01/35 (c)(d)(e)

 

 

1,700

 

 

1,303,135

 

Oregon — 1.2%

 

 

 

 

 

 

 

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

 

 

1,250

 

 

1,425,275

 

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

 

 

 

 

 

 

 

5.00%, 10/01/34

 

 

1,150

 

 

1,243,092

 

5.25%, 10/01/40

 

 

500

 

 

543,080

 

 

 

 

 

 

 

3,211,447

 

Pennsylvania — 5.7%

 

 

 

 

 

 

 

County of Allegheny Pennsylvania IDA,
Refunding RB, US Steel Corp. Project,
6.55%, 12/01/27

 

 

2,535

 

 

2,646,743

 

Delaware River Port Authority, RB
(AGM):

 

 

 

 

 

 

 

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

 

 

2,000

 

 

2,005,080

 

Series D,, 5.00%, 1/01/40

 

 

3,640

 

 

3,933,530

 

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

 

 

 

 

 

 

 

5.53%, 10/01/31

 

 

500

 

 

263,690

 

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JANUARY 31, 2012

4


 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)
 (Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Pennsylvania (concluded)

 

 

 

 

 

 

 

McKeesport Area School District, GO,
CAB (FGIC) (a) (concluded):

 

 

 

 

 

 

 

5.53%, 10/01/31

 

$

2,435

 

$

921,915

 

Pennsylvania Economic Development
Financing Authority, RB:

 

 

 

 

 

 

 

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

 

 

2,000

 

 

2,012,600

 

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

 

 

3,000

 

 

3,153,900

 

 

 

 

 

 

 

14,937,458

 

Puerto Rico — 1.3%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB:

 

 

 

 

 

 

 

CAB, Series A, 5.70%,
8/01/35 (a)

 

 

1,000

 

 

278,140

 

First Sub-Series A, 5.75%,
8/01/37

 

 

1,500

 

 

1,678,950

 

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

 

 

7,500

 

 

1,496,025

 

 

 

 

 

 

 

3,453,115

 

Rhode Island — 2.9%

 

 

 

 

 

 

 

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

 

 

3,000

 

 

3,584,040

 

Rhode Island Housing & Mortgage
Finance Corp., RB, Rental Housing
Project, Series A-1, Series A-1, AMT
(FGIC), 4.75%, 10/01/43

 

 

2,500

 

 

2,348,175

 

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

 

 

1,330

 

 

1,512,981

 

 

 

 

 

 

 

7,445,196

 

South Carolina — 4.3%

 

 

 

 

 

 

 

South Carolina Jobs-EDA, Refunding RB:

 

 

 

 

 

 

 

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

 

 

2,185

 

 

2,245,940

 

Palmetto Health, Series C,
6.88%, 8/01/27

 

 

3,560

 

 

3,896,918

 

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

 

 

4,890

 

 

4,966,235

 

 

 

 

 

 

 

11,109,093

 

South Dakota — 0.5%

 

 

 

 

 

 

 

State of South Dakota Board of Regents
Housing & Auxiliary Facility System
Revenue, RB, 4.25%, 4/01/33

 

 

1,350

 

 

1,420,956

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Tennessee — 0.9%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.25%, 11/01/27

 

$

1,135

 

$

1,271,609

 

5.38%, 11/01/28

 

 

1,000

 

 

1,116,900

 

 

 

 

 

 

 

2,388,509

 

Texas — 8.0%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

7.13%, 12/01/31

 

 

1,000

 

 

1,202,390

 

7.25%, 12/01/35

 

 

2,650

 

 

3,153,341

 

Harris County Metropolitan Transit
Authority Sales and Use Tax, RB,
Series A, 5.00%, 11/01/36

 

 

1,345

 

 

1,534,241

 

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

 

 

5,000

 

 

878,000

 

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

 

 

2,300

 

 

2,333,649

 

Lower Colorado River Authority,
Refunding RB, Series A (NPFGC),
5.00%, 5/15/31 (f)

 

 

5

 

 

5,305

 

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

 

 

2,200

 

 

2,527,096

 

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

 

 

3,000

 

 

3,379,380

 

Texas State Turnpike Authority, RB
(AMBAC):

 

 

 

 

 

 

 

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

 

 

15,000

 

 

4,693,800

 

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

 

 

1,250

 

 

1,251,025

 

 

 

 

 

 

 

20,958,227

 

Vermont — 1.0%

 

 

 

 

 

 

 

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

 

 

2,550

 

 

2,558,568

 

Virginia — 0.1%

 

 

 

 

 

 

 

Roanoke Economic Development
Authority, RB, Carilion Clinic Obligation
Group, 4.00%, 7/01/29

 

 

240

 

 

241,214

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JANUARY 31, 2012

5


 

 

 

 

Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)
 (Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Washington — 0.9%

 

 

 

 

 

 

 

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

 

$

2,100

 

$

2,390,619

 

West Virginia — 0.7%

 

 

 

 

 

 

 

West Virginia University, RB, West
Virginia University Projects, Series B,
5.00%, 10/01/36

 

 

1,650

 

 

1,873,163

 

Wisconsin — 0.7%

 

 

 

 

 

 

 

Wisconsin State Health & Educational
Facilities Authority, RB, Aurora Health
Care, Series A, 4.00%, 7/15/28

 

 

1,700

 

 

1,699,966

 

Wyoming — 0.8%

 

 

 

 

 

 

 

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

 

 

1,800

 

 

2,066,706

 

Total Municipal Bonds – 139.1%

 

 

 

 

 

363,361,813

 
 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

Colorado — 2.1%

 

 

 

 

 

 

 

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

 

 

5,250

 

 

5,531,557

 

Massachusetts — 1.3%

 

 

 

 

 

 

 

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

 

 

3,070

 

 

3,394,376

 

New York — 6.5%

 

 

 

 

 

 

 

Hudson New York Yards Infrastructure
Corp., RB, 5.75%, 2/15/47

 

 

1,750

 

 

1,977,350

 

New York City Municipal Water Finance
Authority, Water & Sewer System, RB:

 

 

 

 

 

 

 

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

 

 

690

 

 

806,085

 

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

 

 

810

 

 

932,377

 

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

 

 

4,000

 

 

4,383,280

 

New York Liberty Development Corp.,
RB, 5.25%, 12/15/43

 

 

4,500

 

 

5,112,135

 

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

 

 

3,359

 

 

3,640,342

 

 

 

 

 

 

 

16,851,569

 

Ohio — 1.8%

 

 

 

 

 

 

 

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

 

 

1,740

 

 

1,879,679

 

 

 

 

 

 

 

 

 

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

 

Par
(000)

 

Value

 

Ohio (concluded)

 

 

 

 

 

 

 

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

 

$

2,600

 

$

2,808,000

 

 

 

 

 

 

 

4,687,679

 

Total Municipal Bonds Transferred to Tender Option
Bond (TOB) Trusts – 11.7%

 

 

 

 

 

30,465,181

 

Total Long-Term Investments
(Cost – $362,783,617) – 150.8%

 

 

 

 

 

393,826,994

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

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

 

 

6,921,266

 

 

6,921,266

 

Total Short-Term Securities
(Cost – $6,921,266) – 2.7%

 

 

 

 

 

6,921,266

 

Total Investments (Cost - $369,704,883*) –153.5%

 

 

 

 

 

400,748,260

 

Other Assets Less Liabilities – 0.4%

 

 

 

 

 

1,191,016

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (5.7)%

 

 

 

 

 

(14,887,940

)

AMPS, at Redemption Value – (48.2)%

 

 

 

 

 

(125,900,000

)

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

261,151,336

 

 

 

 

*

As of January 31, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

 

 

 

 

 

Tax Cost

 

$

354,468,097

 

Gross unrealized appreciation

 

$

36,777,177

 

Gross unrealized depreciation

 

 

(5,380,510

)

Net unrealized appreciation

 

$

31,396,667

 

 

 

(a)

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

 

 

(b)

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

 

 

(c)

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

 

 

(d)

Non-income producing security.

 

 

(e)

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

 

 

(f)

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

 

 

(g)

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


 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JANUARY 31, 2012

6


 

 

 

 

Schedule of Investments (concluded)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

 

(h)

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


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
April 30, 2011

 

Net
Activity

 

Shares
Held at
January 31,
2012

 

Income

 


FFI Institutional Tax-Exempt Fund

 

 

1,084,525

 

 

5,836,701

 

 

6,921,266

 

$

1,024

 

 

 

(i)

Represents the current yield as of report date.

 

 

Portfolio Abbreviations

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

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

ARB

Airport Revenue Bonds

CAB

Capital Appreciation Bonds

CIFG

CDC IXIS Financial Guaranty

COP

Certificates of Participation

EDA

Economic Development Authority

EDC

Economic Development Corp.

FGIC

Financial Guaranty Insurance Co.

GO

General Obligation Bonds

IDA

Industrial Development Authority

IDRB

Industrial Development Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

PILOT

Payment in Lieu of Taxes

RB

Revenue Bonds

Syncora

Syncora Guarantee

 

 

•

Financial futures contracts sold as of January 31, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Depreciation

 

73

 

 

10-Year US Treasury Note

 

 

Chicago Board of Trade

 

 

March 2012

 

$ 

9,654,250

 

$

(127,889

)

 

 

 

•

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

 

 

 

 

•

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

 

 

 

 

•

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

 

 

 

 

•

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

 

 

 

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and does not necessarily correspond to the Trust’s perceived risk of investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its semi-annual report.

 

 

 

The following tables summarize the inputs used as of January 31, 2012 in determining the fair valuation of the Trust ‘s investments and derivative financial instruments:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Investments1

 

 

—

 

$

393,826,994

 

 

—

 

$

393,826,994

 

Short-Term Securities

 

$

6,921,266

 

 

—

 

 

—

 

 

6,921,266

 

Total

 

$

6,921,266

 

$

393,826,994

 

 

—

 

$

400,748,260

 

 

 

1

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Derivative Financial Instruments2

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Contracts

 

$

(127,889

)

 

—

 

 

—

 

$

(127,889

)

 

 

2

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


 

 

 

 

 

 

 

 

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.

JANUARY 31, 2012

7

Item 2 –

Controls and Procedures

 

 

2(a) –

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(b) –

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

 

Item 3 –

Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

BlackRock Investment Quality Municipal Trust, Inc.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Investment Quality Municipal Trust, Inc.
   
  Date: March 23, 2012
   
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Investment Quality Municipal Trust, Inc.
   
  Date: March 23, 2012
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Investment Quality Municipal Trust, Inc.
     
  Date: March 23, 2012