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: 04/30/2013

 

Date of reporting period: 07/31/2012

 

Item 1 – Schedule of Investments

 
 
Schedule of Investments July 31, 2012 (Unaudited) BlackRock Investment Quality Municipal Trust Inc. (BKN)
(Percentages shown are based on Net Assets)

 

    Par  
    (000) Value
Municipal Bonds      
Alabama — 3.4%      
Birmingham Special Care Facilities    
Financing Authority, RB, Children's    
Hospital (AGC):      
6.00%, 6/01/34 $ 1,745 $ 2,047,356
6.00%, 6/01/39   500 583,825
Birmingham Water Works Board, RB,    
4.75%, 1/01/36   3,150 3,410,946
Hoover City Board of Education, GO,    
Refunding, 4.25%, 2/15/40   3,050 3,246,146
      9,288,273
Arizona — 7.8%      
Apache County IDA, Refunding RB,    
Tucson Electric Power Co., Series A,    
4.50%, 3/01/30   900 932,598
Arizona Sports & Tourism Authority, RB,    
Multipurpose Stadium Facilities,      
Series A (NPFGC), 5.00%, 7/01/13 (a) 2,750 2,868,223
Arizona State University, RB, Series D,    
5.50%, 7/01/26   475 578,479
County of Pinal Arizona Election District    
No. 3, Refunding RB, 4.75%, 7/01/31 3,750 4,049,587
Pima County IDA, Refunding IDRB,      
Tucson Electric Power, 5.75%,      
9/01/29   1,375 1,462,216
Salt Verde Financial Corp., RB, Senior:    
5.00%, 12/01/32   1,035 1,076,690
5.00%, 12/01/37   4,585 4,759,459
San Luis Facility Development Corp., RB,    
Senior Lien, Regional Detention      
Center Project:      
6.25%, 5/01/15   305 303,252
7.00%, 5/01/20   490 498,869
7.25%, 5/01/27   980 938,448
State of Arizona, COP, Department of    
Administration, Series A (AGM),      
5.00%, 10/01/29   1,100 1,223,629
University Medical Center Corp.      
Arizona, RB:      
6.00%, 7/01/39   1,600 1,826,352
6.50%, 7/01/39   750 869,160
      21,386,962
Arkansas — 0.3%      
City of Conway Arkansas, RB,      
Wastewater Revenue Improvement,    
Series A, 4.20%, 10/01/37   750 776,505
California — 23.7%      
California County Tobacco Securitization    
Agency, RB, CAB, Stanislaus, Sub-    
Series C, 11.01%, 6/01/55 (b)   7,090 72,034
California Educational Facilities      
Authority, RB, 5.00%, 2/01/40   3,000 3,342,720

 

    Par  
    (000) Value
Municipal Bonds      
California (concluded)      
California Health Facilities Financing      
Authority, RB, Sutter Health, Series B,    
5.88%, 8/15/31 $ 2,300 $ 2,778,308
Carlsbad Unified School District, GO,      
Election of 2006, Series B, 0.00%,      
5/01/34 (c)   1,500 1,180,785
City of San Jose California, Refunding    
ARB, Series A-1, AMT, 5.75%,      
3/01/34   3,000 3,448,650
County of Sacramento California, RB,    
Senior Series A (AGM), 5.00%,      
7/01/41   2,100 2,279,823
Dinuba Unified School District, GO,      
Election of 2006 (AGM):      
5.63%, 8/01/31   250 289,108
5.75%, 8/01/33   535 623,232
Foothill Eastern Transportation Corridor    
Agency California, Refunding RB:      
5.75%, 1/15/40   3,495 3,496,747
CAB, 5.88%, 1/15/28   7,000 7,276,010
Hartnell Community College District      
California, GO, CAB, Election of 2002,    
Series D, 0.00%, 8/01/34 (c)   2,475 1,779,179
Norwalk-La Mirada Unified School      
District California, GO, Refunding,      
CAB, Election of 2002, Series E (AGC),    
5.24%, 8/01/38 (b)   12,000 3,125,280
Palomar Community College District,      
GO, CAB, Election of 2006, Series B:    
4.67%, 8/01/30 (b)   2,270 988,903
7.03%, 8/01/33 (b)   4,250 1,225,233
0.00%, 3/01/39 (c)   3,000 1,797,660
San Diego Community College District    
California, GO, CAB, Election of 2002,    
0.00%, 8/01/19 (c)   4,200 3,400,908
San Jose Evergreen Community College    
District, GO, Election of 2010, Series    
B, 3.50%, 8/01/32   1,800 1,836,612
State of California, GO, Various Purpose:    
5.75%, 4/01/31   3,000 3,542,670
6.00%, 3/01/33   2,270 2,796,277
6.50%, 4/01/33   2,900 3,622,274
5.50%, 3/01/40   3,650 4,190,017
(CIFG), 5.00%, 3/01/15 (a)   515 576,290
(CIFG), 5.00%, 3/01/33   4,485 4,747,552
(NPFGC), 5.00%, 6/01/37   5,000 5,351,250
State of California, GO, Refunding,      
Various Purpose (CIFG), 4.50%,      
8/01/28   1,000 1,067,050
      64,834,572
Colorado — 0.3%      
Park Creek Metropolitan District,      
Refunding RB, Senior Limited Property    
Tax (AGM), 6.00%, 12/01/38   750 873,270

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JULY 31, 20121
 
Schedule of Investments (continued) BlackRock Investment Quality Municipal Trust Inc. (BKN)
(Percentages shown are based on Net Assets)

 

    Par  
    (000) Value
Municipal Bonds      
Connecticut — 1.8%      
Connecticut State Health & Educational    
Facilities Authority, Refunding RB:    
Hartford Healthcare, Series A,      
5.00%, 7/01/32 $ 2,140 $ 2,365,000
Lawrence & Memorial      
Hospital, Series F, 5.00%, 7/01/36   950 1,042,283
Pomfret School Inc., Series B,      
(AGM), 4.00%, 7/01/37   730 740,497
Sacred Heart University,      
Series G, 5.38%, 7/01/31   600 666,570
      4,814,350
Delaware — 0.7%      
County of Sussex Delaware, RB, NRG    
Energy, Inc., Indian River Project,    
6.00%, 10/01/40   1,800 2,043,954
District of Columbia — 1.4%      
District of Columbia Tobacco Settlement    
Financing Corp., Refunding RB, Asset-    
Backed, 6.50%, 5/15/33   3,500 3,819,235
Florida — 12.7%      
County of Lee Florida, Refunding RB,    
Lee Airport, Series A, AMT (AGM),    
5.00%, 10/01/28   3,000 3,294,840
County of Miami-Dade Florida, RB, CAB,    
Sub-Series A (NPFGC) (b):      
5.31%, 10/01/32   4,225 1,468,906
5.33%, 10/01/32   5,000 1,730,550
5.34%, 10/01/33   4,000 1,309,400
5.36%, 10/01/33   15,375 5,018,554
5.41%, 10/01/34   4,580 1,403,953
5.42%, 10/01/35   5,000 1,446,850
County of Orange Florida, Refunding RB    
(Syncora), 4.75%, 10/01/32   5,000 5,242,100
Hillsborough County IDA, RB, National    
Gypsum Co., Series A, AMT, 7.13%,    
4/01/30   3,700 3,702,442
JEA Water & Sewer System Revenue,    
RB, Sub-Series B, 4.00%,      
10/01/43 (d)   1,120 1,121,198
Orange County Health Facilities      
Authority, Refunding RB, Mayflower    
Retirement Center, 5.00%, 6/01/32 200 205,448
Sumter Landing Community      
Development District Florida, RB, Sub-    
Series B, 5.70%, 10/01/38   3,525 3,225,763
Village Community Development District    
No. 6, Special Assessment Bonds,    
5.63%, 5/01/22   5,575 5,620,715
      34,790,719

 

  Par  
  (000) Value
Municipal Bonds    
Georgia — 1.7%    
Chatham County Hospital Authority,    
Refunding RB, Memorial Health    
University Medical Center, Inc.,    
Series A, (CNTY GTD) 4.00%, 1/01/34 $ $ 3,000$ 3,042,300
Milledgeville & Baldwin County    
Development Authority, RB, Georgia    
College & State University Foundation,    
6.00%, 9/01/14 (a) 1,500 1,692,000
    4,734,300
Hawaii — 0.2%    
Hawaii State Department of Budget &    
Finance, Refunding RB, Special    
Purpose - Kahala Nui, 5.25%,    
11/15/37 (d) 600 628,632
Idaho — 1.1%    
Idaho Health Facilities Authority,    
Refunding RB, Trinity Health Group,    
Series B, 6.25%, 12/01/33 2,500 3,000,475
Illinois — 12.7%    
Chicago Public Building Commission    
Building Illinois, RB, Series A (NPFGC),    
7.00%, 1/01/20 (e) 5,000 6,688,650
Chicago Transit Authority, RB, Sales Tax    
Receipts Revenue, 5.25%, 12/01/40 1,000 1,140,830
Illinois Finance Authority, RB:    
MJH Education Assistance IV LLC,    
Sub-Series B, 5.38%,    
6/01/35 (f)(g) 700 69,979
Navistar International, Recovery    
Zone, 6.50%, 10/15/40 795 821,935
Northwestern Memorial Hospital,    
Series A, 5.50%, 8/15/14 (a) 5,800 6,403,200
Roosevelt University Project,    
6.50%, 4/01/44 1,500 1,685,835
Rush University Medical Center,    
Series C, 6.63%, 11/01/39 1,200 1,482,456
Illinois Finance Authority, Refunding RB:    
Friendship Village Schaumburg,    
Series A, 5.63%, 2/15/37 345 346,445
OSF Healthcare System,    
Series A, 6.00%, 5/15/39 1,510 1,736,455
Madison-Macoupin ETC County’s    
Community College District No. 536,    
Refunding GO, Lewis & Clark    
Community College, 3.13%,    
5/01/28 (d) 715 691,998
Metropolitan Pier & Exposition Authority,    
Refunding RB, McCormick Place    
Project, Series B, 4.25%, 6/15/42 4,845 4,950,330

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JULY 31, 20122
 
Schedule of Investments (continued) BlackRock Investment Quality Municipal Trust Inc. (BKN)
(Percentages shown are based on Net Assets)

 

    Par  
    (000) Value
Municipal Bonds      
Illinois (concluded)      
Railsplitter Tobacco Settlement      
Authority, RB:      
6.25%, 6/01/24 $ 6,000 $ 6,765,300
6.00%, 6/01/28   1,700 1,978,307
      34,761,720
Indiana — 0.5%      
Indiana Finance Authority, Refunding    
RB, Improvement, U.S. Steel Corp.,    
6.00%, 12/01/26   1,350 1,409,832
Iowa — 1.6%      
Iowa Higher Education Loan Authority,    
RB, Private College Facility, Buena    
Vista University Project, 5.00%,      
4/01/31   1,480 1,647,003
Iowa Higher Education Loan Authority,    
Refunding RB, Private College Facility:    
5.75%, 9/01/30   965 1,056,202
6.00%, 9/01/39   1,500 1,638,570
      4,341,775
Kansas — 0.5%      
Kansas Development Finance Authority,    
Refunding RB, Sisters of Leavenworth,    
Series A, 5.00%, 1/01/28   1,155 1,301,824
Kentucky — 3.0%      
Kentucky Economic Development      
Finance Authority, Refunding RB,    
Norton Healthcare, Inc., Series B    
(NPFGC), 4.31%, 10/01/23 (b)   8,500 5,278,075
Louisville & Jefferson County      
Metropolitan Government, Refunding    
RB, Jewish Hospital & St. Mary's      
HealthCare, 6.13%, 2/01/18 (a) 2,250 2,871,000
      8,149,075
Louisiana — 0.9%      
Louisiana Local Government      
Environmental Facilities & Community    
Development Authority, RB, Westlake    
Chemical Corp., Series A-1, 6.50%,    
11/01/35   1,565 1,812,959
Louisiana Public Facilities Authority, RB,    
Belle Chasse Educational Foundation    
Project, 6.50%, 5/01/31   600 683,160
      2,496,119
Maryland — 1.7%      
Maryland EDC, Refunding RB, CNX    
Marine Terminals Inc., 5.75%,      
9/01/25   180 194,845

 

    Par  
    (000) Value
Municipal Bonds      
Maryland (concluded)      
Maryland Health & Higher Educational    
Facilities Authority, Refunding RB,      
Doctor's Community Hospital, 5.63%,    
7/01/30 $ 4,100 $ 4,418,324
      4,613,169
Michigan — 2.8%      
Board of Control of Michigan      
Technological University, Refunding    
RB, General, Series A, 4.00%,      
10/01/30   1,930 2,005,965
Michigan State Building Authority,      
Refunding RB, Facilities Program,      
Series I, 6.25%, 10/15/38   1,875 2,195,025
Royal Oak Hospital Finance Authority    
Michigan, Refunding RB, William      
Beaumont Hospital, 8.25%, 9/01/39 2,750 3,547,252
      7,748,242
Minnesota — 2.3%      
City of Minneapolis Minnesota,      
Refunding RB, Fairview Health      
Services, Series B (AGC), 6.50%,      
11/15/38   2,250 2,696,737
City of Rochester Minnesota, RB, Health    
Care Facilities (Mayo Clinic), 4.00%,    
11/15/41   2,050 2,132,533
Tobacco Securitization Authority      
Minnesota, Refunding RB, Tobacco    
Settlement, 5.25%, 3/01/31   1,200 1,349,916
      6,179,186
Mississippi — 3.4%      
Mississippi Development Bank, RB,      
Hinds Community College District,      
Capital Improvement Project (AGM),    
5.00%, 4/01/36   1,910 2,120,998
Mississippi Development Bank Special    
Obligation, RB, Jackson County      
Limited Tax Note (AGC), 5.50%,      
7/01/32   2,655 3,025,824
University of Southern Mississippi, RB,    
Campus Facilities Improvements      
Project, 5.38%, 9/01/36   3,150 3,585,361
Warren County Mississippi, RB, Gulf      
Opportunity Zone Bonds (International    
Paper Company Project), Series A,      
AMT, 5.38%, 12/01/35   600 652,488
      9,384,671
Missouri — 0.5%      
Missouri State Development Finance    
Board, RB, St. Joseph Sewage System    
Improvements, 5.25%, 5/01/31   620 664,764

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JULY 31, 20123
 
Schedule of Investments (continued) BlackRock Investment Quality Municipal Trust Inc. (BKN)
(Percentages shown are based on Net Assets)

 

    Par  
    (000) Value
Municipal Bonds      
Missouri (concluded)      
Missouri State Health & Educational      
Facilities Authority, RB, A.T. Still      
University Health Sciences, 5.25%,    
10/01/31 $ 500 $ 565,155
      1,229,919
Montana — 0.5%      
Montana Facility Finance Authority,      
Refunding RB, Sisters of Leavenworth,    
Series A, 4.75%, 1/01/40   1,250 1,358,062
Nebraska — 2.2%      
Central Plains Energy Project Nebraska,    
RB, Gas Project No. 3:      
5.25%, 9/01/37   765 811,764
5.00%, 9/01/42   900 925,821
Nebraska Investment Finance Authority,    
Refunding RB, Series A, 6.05%,      
9/01/41   1,180 1,253,420
Omaha Nebraska Sanitation Sewer      
Revenue, RB, 4.25%, 11/15/38   2,840 3,035,449
      6,026,454
Nevada — 0.4%      
County of Clark Nevada, Refunding RB,    
Alexander Dawson School Nevada      
Project, 5.00%, 5/15/29   1,065 1,118,080
New Jersey — 6.1%      
Middlesex County Improvement      
Authority, RB, Subordinate, Heldrich    
Center Hotel, Series B, 6.25%,      
1/01/37 (f)(g)   1,510 113,235
New Jersey EDA, RB, Cigarette Tax,      
5.75%, 6/15/14 (a)   5,250 5,781,037
New Jersey Educational Facilities      
Authority, Refunding RB, University of    
Medicine & Dentistry, Series B:      
7.13%, 12/01/23   950 1,190,578
7.50%, 12/01/32   1,225 1,534,827
New Jersey Health Care Facilities      
Financing Authority, Refunding RB,    
Barnabas Health, Series A:      
4.63%, 7/01/23   770 807,838
5.63%, 7/01/37   2,560 2,785,203
New Jersey State Housing & Mortgage    
Finance Agency, RB, Series AA,      
6.50%, 10/01/38   705 752,912
New Jersey Transportation Trust Fund    
Authority, RB, Transportation System,    
Series B, 5.25%, 6/15/36   2,860 3,295,321
Union County Utilities Authority,      
Refunding RB:      
County Deficiency Agreement,      
Series A, 4.00%, 6/15/32   250 268,695

 

    Par  
    (000) Value
Municipal Bonds      
New Jersey (concluded)      
Union County Utilities Authority,      
Refunding RB (concluded):      
New Jersey Solid Waste      
System, County Deficiency      
Agreement, Series A, 5.00%,    
6/15/41 $ 95 $ 108,904
      16,638,550
New York — 6.0%      
Albany Industrial Development Agency,    
RB, New Covenant Charter School    
Project, Series A, 7.00%,      
5/01/35 (f)(g)   725 163,118
Hudson New York Yards Infrastructure    
Corp., RB, Series A:      
5.00%, 2/15/47   250 263,675
(AGM), 5.00%, 2/15/47   1,250 1,326,963
(NPFGC), 4.50%, 2/15/47   1,980 2,035,598
(NPFGC), 5.00%, 2/15/47   1,500 1,582,050
Long Island Power Authority, Refunding    
RB, Series A, 5.75%, 4/01/39   2,475 2,888,251
New York City Industrial Development    
Agency, RB:      
American Airlines Inc., JFK      
International Airport, AMT,      
7.63%, 8/01/25 (f)(g)(h)   2,600 2,741,102
Queens Baseball Stadium, PILOT,    
(AGC), 6.50%, 1/01/46   300 354,336
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 1,425,812
New York State Dormitory Authority, RB,    
Rochester Institute of Technology,    
6.00%, 7/01/33   1,625 1,917,354
Westchester County Healthcare Corp.    
New York, Refunding RB, Senior Lien,    
5.00%, 11/01/30   1,600 1,761,584
      16,459,843
North Carolina — 6.0%      
City of Charlotte North Carolina, Refunding    
RB, Series A, 5.50%, 7/01/34   325 377,644
Gaston County Industrial Facilities & Pollution    
Control Financing Authority North Carolina,    
RB, Exempt Facilities, National Gypsum Co.    
Project, AMT, 5.75%, 8/01/35   2,425 2,190,769
North Carolina Capital Facilities Finance    
Agency, RB, Duke Energy Carolinas Project,    
Series B, 4.38%, 10/01/31   1,385 1,490,260
North Carolina Capital Facilities Finance    
Agency, Refunding RB, Duke Energy      
Carolinas Project, Series B, 4.63%,      
11/01/40   9,650 10,321,640

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JULY 31, 20124
 
Schedule of Investments (continued) BlackRock Investment Quality Municipal Trust Inc. (BKN)
(Percentages shown are based on Net Assets)

 

    Par  
    (000) Value
Municipal Bonds      
North Carolina (concluded)      
North Carolina Medical Care      
Commission, Refunding RB, University    
Health System, Series D, 6.25%,      
12/01/33 $ 1,750 $ 2,055,900
      16,436,213
North Dakota — 1.4%      
City of Fargo North Dakota, Refunding    
RB, University Facilities Development    
Foundation Project:      
3.00%, 12/01/30   600 588,342
4.00%, 12/01/36   900 945,081
City of Grand Forks North Dakota,      
Refunding RB, 5.00%, 12/01/32   2,120 2,297,423
      3,830,846
Ohio — 0.8%      
City of Marion, GO, Various Purpose,      
(AGM):      
4.00%, 12/01/30   360 364,241
4.00%, 12/01/33   360 361,796
Kent State University, RB, General      
Receipts, Series A, 5.00%, 5/01/42 1,200 1,352,832
      2,078,869
Oregon — 3.2%      
City of Tigard Washington County      
Oregon, Refunding RB, Water System,    
5.00%, 8/01/42   1,400 1,620,696
Oregon Health & Science University, RB,    
Series A, 5.75%, 7/01/39   1,250 1,445,500
Oregon Health & Science University,      
Refunding RB, Series A, 3.00%,      
7/01/24   3,000 3,023,850
Oregon State Facilities Authority, RB,    
5.00%, 7/01/44   900 966,186
Oregon State Facilities Authority,      
Refunding RB, Limited College Project,    
Series A:      
5.00%, 10/01/34   1,150 1,266,403
5.25%, 10/01/40   500 554,540
      8,877,175
Pennsylvania — 3.0%      
County of Allegheny Pennsylvania IDA,    
Refunding RB, U.S. Steel Corp.      
Project, 6.55%, 12/01/27   2,535 2,759,880
Delaware River Port Authority, RB,      
Series D (AGM), 5.00%, 1/01/40   3,640 4,006,329
McKeesport Area School District, GO,    
CAB (NPFGC) (b):      
3.09%, 10/01/31 (e)   500 277,795
4.56%, 10/01/31   2,435 1,026,085
      8,070,089

 

    Par  
    (000) Value
 
Municipal Bonds      
Puerto Rico — 1.3%      
Puerto Rico Sales Tax Financing Corp., RB,    
First Sub-Series A, 5.75%, 8/01/37 $ 1,500 $ 1,678,305
Puerto Rico Sales Tax Financing Corp., RB,    
CAB, Series A, 5.57%, 8/01/35 (b)   1,000 282,770
Puerto Rico Sales Tax Financing Corp.,      
Refunding RB, CAB, Series A (NPFGC),      
5.55%, 8/01/41 (b)   7,500 1,532,700
      3,493,775
Rhode Island — 3.4%      
Rhode Island Health & Educational Building    
Corp., RB, Hospital Financing, LifeSpan      
Obligation, Series A (AGC), 7.00%, 5/15/39 3,000 3,622,530
Rhode Island Health & Educational Building    
Corp., Refunding RB, Rhode Island School    
of Design, 3.50%, 6/01/29   4,205 4,171,023
State of Rhode Island, COP, Series C, School    
for the Deaf (AGC), 5.38%, 4/01/28   1,330 1,512,636
      9,306,189
South Carolina — 3.7%      
South Carolina Jobs-EDA, Refunding RB:      
Palmetto Health Alliance, Series A,      
6.25%, 8/01/31   2,185 2,361,898
Palmetto Health, Series C, 6.88%,      
8/01/13 (a)   3,560 3,795,209
South Carolina State Housing Finance &      
Development Authority, Refunding RB,      
Series A-2, AMT (AMBAC), 5.15%,
7/01/37 3,790 3,989,354
      10,146,461
Tennessee — 1.6%      
Memphis-Shelby County Sports Authority, Inc.,    
Refunding RB, Memphis Arena Project,      
Series A:      
5.25%, 11/01/27   1,135 1,283,095
5.38%, 11/01/28   1,000 1,127,960
Shelby County Health Educational & Housing    
Facilities Board, RB, Methodist Le Bonheur    
Healthcare, 5.00%, 5/01/42   1,800 1,950,084
      4,361,139
Texas — 7.4%      
Harris County Health Facilities Development    
Corp., Refunding RB, Memorial Hermann    
Healthcare System, Series B:      
7.13%, 12/01/31   1,000 1,215,030
7.25%, 12/01/35   2,650 3,218,345

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JULY 31, 20125
 
Schedule of Investments (continued) BlackRock Investment Quality Municipal Trust Inc. (BKN)
(Percentages shown are based on Net Assets)

 

    Par  
    (000) Value
Municipal Bonds      
Texas (concluded)      
Harris County Metropolitan Transit Authority    
Sales and Use Tax, RB,    
Series A, 5.00%, 11/01/36 $ 600 $ 691,560
Harris County-Houston Sports Authority,      
Refunding RB, CAB, Senior Lien,    
Series A (NPFGC), 5.95%,    
11/15/38 (b)   5,000 1,071,050
Love Field Airport Modernization Corp., RB,    
Southwest Airlines Co. Project,      
5.25%, 11/01/40   1,445 1,559,184
Lower Colorado River Authority, Refunding RB,    
Series A (NPFGC), 5.00%, 5/15/13 (a)   5 5,189
Matagorda County Navigation District No. 1    
Texas, Refunding RB, Central Power & Light    
Co. Project, Series A, 6.30%, 11/01/29   2,200 2,555,366
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 3,662,400
Texas State Turnpike Authority, RB (AMBAC):    
CAB, 5.96%, 8/15/31 (b)   15,000 4,903,050
First Tier, Series A, 5.00%, 8/15/42   1,250 1,250,325
      20,131,499
Vermont — 2.9%      
University of Vermont & State Agricultural      
College, Refunding RB, Series A (GO OF      
UNIVERSITY), 4.00%, 10/01/38 (d)   3,600 3,642,516
Vermont Educational & Health Buildings      
Financing Agency, RB, Hospital, Fletcher    
Allen Health, Series A, 4.75%, 12/01/36 2,695 2,757,308
Vermont Educational & Health Buildings      
Financing Agency, Refunding RB, St.      
Michaels College, 5.00%, 10/01/42   1,350 1,487,889
      7,887,713
Virginia — 0.8%      
Virginia Small Business Financing Authority,    
RB, Senior Lien, Elizabeth River Crossing    
OPCO LLC Project, AMT, 5.50%, 1/01/42 1,870 2,060,665
Washington — 1.3%      
City of Lynnwood, GO, 4.00%, 12/01/37   1,200 1,245,276
Washington Healthcare Facilities Authority,    
RB, MultiCare Health System, Series B      
(AGC), 6.00%, 8/15/39   2,100 2,426,991
      3,672,267

 

    Par  
    (000) Value
 
Municipal Bonds      
West Virginia — 0.7%      
West Virginia State University, RB, West      
Virginia University Projects, Series B,      
5.00%, 10/01/36 $ 1,650 $ 1,911,261
Wisconsin — 0.7%      
Wisconsin State Health & Educational      
Facilities Authority, Refunding RB, Series C,    
5.00%, 8/15/32   1,800 1,993,104
Wyoming — 0.8%      
County of Sweetwater Wyoming, Refunding    
RB, Idaho Power Co. Project, 5.25%,      
7/15/26   1,800 2,055,168
Total Municipal Bonds – 139.2%     380,520,201
 
 
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (i)
Colorado — 2.1%      
Colorado Health Facilities Authority, RB,      
Catholic Health, Series C-7 (AGM),    
5.00%, 9/01/36   5,250 5,614,350
Massachusetts — 1.3%      
Massachusetts Water Resources Authority,    
Refunding RB, General, Series A,    
5.00%, 8/01/41   3,070 3,453,842
Michigan — 2.3%      
Michigan State Hospital Finance Authority,    
Refunding RB, 4.00%, 12/01/32   6,000 6,232,320
New York — 6.3%      
Hudson New York Yards Infrastructure Corp.,    
Senior RB, Senior, Series A,      
5.75%,2/15/47   1,750 2,050,949
New York City Municipal Water Finance      
Authority, RB, Water & Sewer System,      
Series A, 5.75%, 6/15/40   690 831,649
New York City Municipal Water Finance      
Authority, Refunding RB:      
  Water & Sewer System, Second      
    Generation Resolution, Series      
    FF-2, 5.50%, 6/15/40   810 953,915
  Water & Sewer System, Series A,      
    4.75%, 6/15/30   4,000 4,482,480
New York Liberty Development Corp.,    
RB, 5.25%, 12/15/43   4,500 5,190,525
New York State Dormitory Authority, RB,    
New York University, Series A, 5.00%,    
7/01/38   3,359 3,711,204
      17,220,722
BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JULY 31, 20126
 
Schedule of Investments (continued) BlackRock Investment Quality Municipal Trust Inc. (BKN)
(Percentages shown are based on Net Assets)

 

  Par  
  (000) Value
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (i)
Ohio — 1.7%    
County of Montgomery Ohio, RB,    
Catholic Health, Series C-1 (AGM),    
5.00%, 10/01/41 $ 1,740 $ 1,927,685
Ohio Higher Educational Facility    
Commission, Refunding RB, Hospital,    
Cleveland Clinic Health, Series A,    
5.25%, 1/01/33 2,600 2,861,716
    4,789,401
Total Municipal Bonds Transferred to Tender  
Option Bond (TOB) Trusts – 13.7%   37,310,635
Total Long-Term Investments    
(Cost – $377,988,233) – 152.9%   417,830,836
 
 
 
  Shares  
 
Short-Term Securities    
FFI Institutional Tax-Exempt Fund,    
0.01%, (j)(k) 1,604,231 1,604,231
Total Short-Term Securities    
(Cost – $1,604,231) – 0.6%   1,604,231
Total Investments (Cost - $379,592,464*) – 153.5% 419,435,067
Liabilities in Excess of Other Assets – (0.3)% (839,065)
Liability for TOB Trust Certificates, Including Interest  
    Expense and Fees Payable – (7.1)% (19,392,024)
VMTP Shares, at Liquidation Value – (46.1)% (125,900,000)
Net Assets – 100.0% $ 273,303,978
         
*      As of July 31, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax
purposes were as follows:
Tax Cost     $ 360,595,290
Gross unrealized appreciation     $ 43,520,708
Gross unrealized depreciation       (4,064,427)
Net unrealized appreciation     $ 39,456,281

 

(a)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.
(b)Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.
(c)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.
(d)When-issued security. Unsettled when-issued transactions were as follows:

    Unrealized
    Appreciation
Counterparty Value (Depreciation)
Pershing LLC $ 628,632 $ 19,176
JPMorgan Chase & Co. $ 1,121,198 $ (2,252)
Stifel Nicolaus & Co $ 691,998 $ (6,843)
Citigroup Inc. $ 3,642,516 $ 156,240

 

(e)Security is collateralized by Municipal or US Treasury obligations.
(f)Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.
(g)Non-income producing security.
(h)Variable rate security. Rate shown is as of report date.
(i)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.
(j)Investments in companies considered to be an affiliate of the Trust during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
  Shares   Shares  
  Held at Net Held at  
Affiliate April 30, 2012 Activity July 31, 2012 Income
FFI Institutional        
Tax-Exempt        
Fund 4,510,968 (2,906,737) 1,604,231 $ 354

 

(k)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
CNTY GTD County Guaranteed
COP Certificates of Participation
EDA Economic Development Authority
EDC Economic Development Corp.
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

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JULY 31, 20127
 
Schedule of Investments (concluded) BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

•Fair Value Measurements - Various inputs are used in determining the fair value of investments. These inputs to valuation techniques 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)

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust's policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its annual report.

The following table summarizes the Trust's investments categorized in the disclosure hierarchy as of July 31, 2012:

  Level 1 Level 2 Level 3 Total
Assets:        
Investments:        
Long-Term        
Investments1 — $ 417,830,836 — $ 417,830,836
Short-Term        
Securities $ 1,604,231 — — 1,604,231
Total $ 1,604,231 $ 417,830,836 — $ 419,435,067

1See above Schedule of Investments for values in each state or political subdivision.

Certain of the Trust’s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of July 31, 2012, such liabilities are categorized within the disclosure hierarchy as follows:

  Level 1 Level 2 Level 3 Total
Liabilities:        
TOB trust        
certificates   $  (19,383,496)  $  (19,383,496)
VMTP Shares  — (125,900,000)  — (125,900,000)
Total  — $(145,283,496)  — $(145,283,496)

 

There were no transfers between levels during the period ended July 31, 2012.

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JULY 31, 20128
 

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: September 25, 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: September 25, 2012

 

  By: /s/ Neal J. Andrews
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Investment Quality Municipal Trust, Inc.

 

Date: September 25, 2012