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
BlackRock Broad Investment Grade 2009 Term Trust, Inc.
(Exact name of registrant as specified in charter)
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Robert S. Kapito, President
BlackRock Broad Investment Grade 2009 Term Trust, Inc.
40 East
52nd Street, New York, NY 10022
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Registrant's telephone number, including area code: 888-825-2257
Date of fiscal year end: October 31, 2006
Date of reporting period: July 31, 2006
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:
CONSOLIDATED PORTFOLIO OF INVESTMENTS
(unaudited)
JULY 31, 2006
BlackRock Broad Investment Grade 2009 Term Trust Inc. (BCT)
Principal | ||||||||
Amount | ||||||||
Rating1 | (000) | Description | Value | |||||
LONG-TERM INVESTMENTS79.9% | ||||||||
Mortgage Pass-Through Securities1.0% | ||||||||
Federal National Mortgage Assoc., | ||||||||
$393 | 5.50%, 1/01/17-2/01/17 | $ 389,435 | ||||||
15 | 6.50%, 7/01/29 | 15,548 | ||||||
Total Mortgage Pass-Through Securities | 404,983 | |||||||
Inverse Floating Rate Mortgage Securities2.4% | ||||||||
AAA | 178 | 2 | Citicorp Mortgage Securities, Inc., Ser. 14, Class A-4, 3.879%, 11/25/23 | 164,251 | ||||
Federal Home Loan Mortgage Corp., | ||||||||
126 | 2 | Ser. 1425, Class SB, 8.022%, 12/15/07 | 126,301 | |||||
25 | 2 | Ser. 1506, Class S, 10.528%, 5/15/08 | 25,418 | |||||
106 | 2 | Ser. 1515, Class S, 9.733%, 5/15/08 | 106,219 | |||||
181 | 2 | Ser. 1618, Class SA, 8.25%, 11/15/08 | 186,548 | |||||
27 | 2 | Ser. 1661, Class SB, 9.783%, 1/15/09 | 27,357 | |||||
102 | 2 | Ser. 1688, Class S, 8.709%, 12/15/13 | 101,646 | |||||
Federal National Mortgage Assoc., | ||||||||
32 | 2 | Ser. 13, Class SJ, 8.75%, 2/25/09 | 31,860 | |||||
73 | 2 | Ser. 187, Class SB, 12.747%, 10/25/07 | 73,958 | |||||
59 | 2 | Ser. 191, Class SD, 7.591%, 10/25/08 | 58,755 | |||||
103 | 2 | Ser. 214, Class SH, 4.194%, 12/25/08 | 98,271 | |||||
Total Inverse Floating Rate Mortgage Securities | 1,000,584 | |||||||
Interest Only Mortgage-Backed Securities3.7% | ||||||||
Federal Home Loan Mortgage Corp., | ||||||||
97 | Ser. 65, Class I, 918.03%, 8/15/20 | 1,229 | ||||||
22 | Ser. 141, Class H, 1,060.00%, 5/15/21 | 290 | ||||||
168 | Ser. 1645, Class IB, 5.50%, 9/15/08 | 3,498 | ||||||
1,970 | Ser. 2523, Class EH, 5.50%, 4/15/20 | 140,688 | ||||||
87 | Ser. 2543, Class IM, 5.00%, 9/15/12 | 103 | ||||||
1,024 | Ser. 2633, Class PI, 4.50%, 3/15/12 | 26,939 | ||||||
266 | Ser. 2672, Class TP, 5.00%, 9/15/16 | 1,024 | ||||||
5,605 | Ser. 2739, Class PI, 5.00%, 3/15/22 | 373,368 | ||||||
1,579 | Ser. 2775, Class UB, 5.00%, 12/15/17 | 45,007 | ||||||
2,420 | Ser. 2976, Class KI, 5.50%, 11/15/34 | 245,787 | ||||||
Federal National Mortgage Assoc., | ||||||||
97 | Ser. 8, Class HA, 1,199.999%, 1/25/08 | 7,405 | ||||||
1,806 | Ser. 13, Class IG, 5.00%, 10/25/22 | 98,560 | ||||||
126 | 2 | Ser. 20, Class SL, 11.103%, 9/25/08 | 11,417 | |||||
362 | Ser. 49, Class L, 444.917%, 4/25/13 | 34,845 | ||||||
128 | Ser. 51, Class K, 1,006.50%, 4/25/07 | 4,748 | ||||||
12,037 | Ser. 70, Class ID, 5.00%, 4/25/22 | 536,403 | ||||||
4 | 2 | Ser. 174, Class S, 102.79%, 9/25/22 | 10,164 | |||||
7 | 2 | Ser. 208, Class S, 2.094%, 2/25/23 | 9 | |||||
132 | Ser. 82, Class IR, 5.00%, 9/25/12 | 798 | ||||||
3 | Ser. G-21, Class L, 949.50%, 7/25/21 | 6,157 | ||||||
NR | 15,573 | 2 | Vendee Mortgage Trust, Ser. 1, 0.043%, 10/15/31 | 29,974 | ||||
Total Interest Only Mortgage-Backed Securities | 1,578,413 | |||||||
Principal Only Mortgage-Backed Security0.0% | ||||||||
Aaa | 23 | 3 | Salomon Brothers Mortgage Securities, Inc. VI, Ser. 3, Class A, 12.50%, 10/23/17 | 20,828 | ||||
Asset-Backed Securities0.0% | ||||||||
NR | 235 | 2,4,5,6 | Global Rated Eligible Asset Trust, Ser. A, Class 1, 7.33%, 9/15/07 | 23 | ||||
Structured Mortgage Asset Residential Trust, | ||||||||
NR | 568 | 2,5,6 | Ser. 2, 8.24%, 12/15/06 | 57 | ||||
NR | 629 | 2,5,6 | Ser. 3, 8.724%, 4/15/07 | 63 | ||||
Total Asset-Backed Securities | 143 | |||||||
Corporate Bonds15.7% | ||||||||
Energy2.4% | ||||||||
A1 | 500 | Conoco Funding Co., 5.45%, 10/15/06 (Canada) | 499,817 | |||||
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BlackRock Broad Investment Grade 2009 Term Trust Inc. (BCT) (continued)
Principal | ||||||||
Amount | ||||||||
Rating1 | (000) | Description | Value | |||||
Energy(contd) | ||||||||
BBB+ | $500 | 4 | Israel Electric Corp. Ltd., 7.25%, 12/15/06 (Israel) | $ 501,065 | ||||
Total Energy | 1,000,882 | |||||||
Financial Institutions13.1% | ||||||||
Aa2 | 500 | Bank of America Corp., 4.75%, 10/15/06 | 499,387 | |||||
AAA | 500 | General Electric Capital Corp., 2.75%, 9/25/06 | 498,078 | |||||
BB | 500 | General Motors Acceptance Corp., 6.125%, 9/15/06 | 499,987 | |||||
AA- | 500 | Goldman Sachs Group, Inc., 2.85%, 10/27/06 | 496,936 | |||||
A+ | 500 | Lehman Brothers Holdings, Inc., 7.50%, 9/01/06 | 500,668 | |||||
AA- | 1,000 | Morgan Stanley Group, Inc., 10.00%, 6/15/08 | 1,077,867 | |||||
A+ | 500 | SLM Corp., 3.50%, 9/30/06 | 498,577 | |||||
Aa3 | 500 | SunTrust Bank, 7.25%, 9/15/06 | 500,868 | |||||
Aa1 | 500 | U.S. Bank NA, 2.85%, 11/15/06 | 496,014 | |||||
AA-500 | Wachovia Corp., 4.95%, 11/01/06 | 499,176 | ||||||
Total Financial Institutions | 5,567,558 | |||||||
Transportation0.2% | ||||||||
Caa2 | 100 | American Airlines, Inc., 10.44%, 3/04/07 | 102,000 | |||||
Total Corporate Bonds | 6,670,440 | |||||||
U.S. Government and Agency Securities36.8% | ||||||||
U.S. Treasury Notes, | ||||||||
3,200 | 3.50%, 11/15/06 | 3,184,749 | ||||||
2,000 | 6.00%, 8/15/09 | 2,059,376 | ||||||
385 | 6.625%, 5/15/07 | 389,301 | ||||||
10,000 | U.S. Treasury Strip, Zero Coupon, 8/15/06 | 9,982,812 | ||||||
Total U.S. Government and Agency Securities | 15,616,238 | |||||||
Taxable Municipal Bonds4.9% | ||||||||
AAA | 500 | Fresno California Pension Oblig., 7.80%, 6/01/14 | 550,845 | |||||
AAA | 500 | Kern County California Pension Oblig., 6.98%, 8/15/09 | 522,385 | |||||
AAA | 500 | Los Angeles County California Pension Oblig., Ser. D, 6.97%, 6/30/08 | 513,930 | |||||
AAA | 500 | Orleans Parish Louisiana School Board, Ser. A, 6.60%, 2/01/08 | 507,715 | |||||
Total Taxable Municipal Bonds | 2,094,875 | |||||||
Collateralized Mortgage Obligation Securities15.4% | ||||||||
Federal Home Loan Mortgage Corp., | ||||||||
975 | Ser. 60, Class LK, 6.50%, 7/25/36 | 983,697 | ||||||
2,168 | Ser. 1510, Class G, 7.05%, 5/15/13 | 2,180,908 | ||||||
2,000 | Ser. 1598, Class J, 6.50%, 10/15/08 | 2,008,318 | ||||||
81 | Ser. 2564, Class NC, 5.00%, 2/15/33 | 71,224 | ||||||
Federal National Mortgage Assoc., | ||||||||
61 | Ser. 17, Class JA, 4.00%, 4/25/34 | 61,058 | ||||||
1,000 | Ser. 49, Class H, 7.00%, 4/25/13 | 1,015,861 | ||||||
143 | 2 | Ser. 214, Class SK, 10.00%, 12/25/08 | 147,505 | |||||
76 | 2 | Government National Mortgage Assoc., REMIC Trust 2000, Ser. 16, Class FD, 6.019%, 12/16/27 | 76,460 | |||||
Total Collateralized Mortgage Obligation Securities | 6,545,031 | |||||||
Total Long-Term Investments (cost $34,428,223) | 33,931,535 | |||||||
SHORT-TERM INVESTMENTS19.6% | ||||||||
U.S. Government and Agency Discount Notes19.6% | ||||||||
700 | 7 | Federal Home Loan Bank Disc. Notes, 4.95%, 8/01/06 | 700,000 | |||||
4,600 | 7 | Federal Home Loan Mortgage Disc. Notes, 5.298%, 9/05/06 | 4,576,521 | |||||
1,235 | 7 | Federal National Mortgage Assoc. Disc. Notes, 5.309%, 9/06/06 | 1,228,504 | |||||
1,880 | 7 | U.S. Treasury Bills, 5.219%, 1/11/07 | 1,836,715 | |||||
Total Short-Term Investments (cost $8,341,740) | 8,341,740 | |||||||
Total investments99.5% (cost $42,769,9638) | $42,273,275 | |||||||
Other assets in excess of liabilities0.5% | 212,534 | |||||||
Net Assets100% | $42,485,809 | |||||||
1 | Using the highest of Standard & Poors, Moodys Investor Service or Fitchs rating. | ||
2 | Variable rate security. Rate shown is interest rate as of July 31, 2006. | ||
3 | Rate shown is effective yield as of July 31, 2006 of the underlying collateral. | ||
4 | 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, 2006, the Trust held 1.2% of its net assets, with a current market value of $501,088, in securities restricted as to resale. | ||
5 | Illiquid security. As of July 31, 2006, the Trust held less than 0.1% of its net assets, with a current market value of $143 in these securities. | ||
6 | Security is fair valued. | ||
7 | Rate shown is the yield to maturity as of the date of purchase. | ||
8 | Cost for Federal income tax purposes is $42,769,963. The net unrealized depreciation on a tax basis is $496,688, consisting of $425,141 gross unrealized appreciation and $921,829 gross unrealized depreciation. |
KEY TO ABBREVIATIONS
REMIC Real Estate Mortgage Investment Conduit
2
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 its principal executive and principal 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.
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 Broad Investment Grade 2009 Term Trust, Inc.
By: /s/ Henry Gabbay
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: September 27, 2006
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: President and Principal Executive Officer
Date: September 27, 2006
By: /s/ Henry Gabbay
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: September 27, 2006