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 811-05542

 

Name of Fund: BlackRock Income Trust, Inc. (BKT)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Income 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: 08/31/2012

 

Date of reporting period: 11/30/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments November 30, 2011 (Unaudited)

BlackRock Income Trust, Inc. (BKT)

 

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Asset-Backed Securities

 

Par
(000)

 

Value

 

Asset-Backed Securities — 1.9%

 

 

 

 

 

 

 

First Franklin Mortgage Loan
Asset-Backed Certificates,
Series 2005-FF2, Class M2,
0.70%, 3/25/35 (a)

 

$

5,890

 

$

5,042,906

 

Freddie Mac Mortgage-Backed
Securities, Series T-11, Class A9,
2.56%, 1/25/28 (a)

 

 

2,237

 

 

2,107,415

 

Securitized Asset-Backed
Receivables LLC Trust,
Series 2005-OP2, Class M1,
0.69%, 10/25/35 (a)

 

 

1,875

 

 

1,078,957

 

Small Business Administration
Participation Certificates, Class 1:

 

 

 

 

 

 

 

Series 1996-20E, 7.60%,
5/01/16

 

 

136

 

 

147,434

 

Series 1996-20G, 7.70%,
7/01/16

 

 

204

 

 

220,668

 

Series 1996-20H, 7.25%,
8/01/16

 

 

262

 

 

282,752

 

Series 1996-20K, 6.95%,
11/01/16

 

 

421

 

 

458,110

 

Series 1997-20C, 7.15%,
3/01/17

 

 

161

 

 

176,005

 

 

 

 

 

 

 

9,514,247

 

Interest Only Asset-Backed Securities — 0.2%

 

 

 

 

 

 

 

Small Business Administration,
Series 1, 2.00%, 4/01/15

 

 

1,767

 

 

15,460

 

Sterling Bank Trust, Series 2004-2,
Class Note, 2.08%, 3/30/30 (b)

 

 

4,664

 

 

362,941

 

Sterling Coofs Trust, Series 1,
2.36%, 4/15/29

 

 

8,101

 

 

635,426

 

 

 

 

 

 

 

1,013,827

 

Total Asset-Backed Securities – 2.1%

 

 

 

 

 

10,528,074

 

 

 

 

 

 

 

 

 


Non-Agency Mortgage-Backed
Securities

 

 

 

 

 

 

 

Collateralized Mortgage Obligations — 2.0%

 

 

 

 

 

 

 

Collateralized Mortgage Obligation
Trust, Series 40, Class R, 0.58%,
4/01/18

 

 

116

 

 

116

 

Countrywide Alternative Loan
Trust, Series 2005-28CB, Class
1A5, 5.50%, 8/25/35

 

 

627

 

 

614,898

 

 

 

 

 

 

 

 

 

Non-Agency Mortgage-Backed
Securities

 

Par
(000)

 

Value

 

Collateralized Mortgage
Obligations (concluded)

 

 

 

 

 

 

 

Deutsche ALT-A Securities, Inc.
Alternate Loan Trust, Series
2006-AR5, Class 22A, 5.50%,
10/25/21

 

$

978

 

$

936,797

 

Homebanc Mortgage Trust,
Series 2005-4, Class A1, 0.53%,
10/25/35 (a)

 

 

3,088

 

 

1,942,563

 

JPMorgan Mortgage Trust,
Series 2006-A7, Class 2A2,
3.02%, 1/25/37 (a)

 

 

398

 

 

260,340

 

Kidder Peabody Acceptance Corp.,
Series 1993-1, Class A6,
16.17%, 8/25/23 (a)

 

 

52

 

 

59,144

 

Residential Funding Securities
LLC, Series 2003-RM2, Class
AI5, 8.50%, 5/25/33

 

 

3,013

 

 

3,237,708

 

Structured Adjustable Rate
Mortgage Loan Trust,
Series 2004-11, Class A, 2.61%,
8/25/34 (a)

 

 

1,398

 

 

1,200,570

 

WaMu Mortgage Pass-Through
Certificates, Series 2006-AR1,
Class 2A1C, 1.29%, 1/25/46 (a)

 

 

4,890

 

 

1,997,596

 

 

 

 

 

 

 

10,249,732

 

Commercial Mortgage-Backed Securities — 0.7%

 

 

 

 

 

 

 

Credit Suisse Mortgage Capital
Certificates, Series 2007-C2,
Class A3, 5.54%, 1/15/49 (a)

 

 

2,420

 

 

2,473,954

 

First Union-Lehman Brothers
Commercial Mortgage, Series
1997-C2, Class D, 7.12%,
11/18/29

 

 

1,295

 

 

1,309,456

 

 

 

 

 

 

 

3,783,410

 

Interest Only Collateralized Mortgage Obligations — 1.0%

 

 

 

 

 

 

 

Bank of America Mortgage
Securities Inc., Series 2003-3,
Class 1AIO, 0.28%, 5/25/33 (a)

 

 

78,445

 

 

501,972

 

CitiMortgage Alternative Loan
Trust, Series 2007-A5, Class
1A7, 6.00%, 5/25/37

 

 

971

 

 

177,602

 

Collateralized Mortgage Obligation
Trust, Series 42, Class R,
6,000.00%, 10/01/14

 

 

2

 

 

131

 

 

 

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:


LIBOR


London Interbank Offered Rate

REMIC

Real Estate Mortgage Investment Conduit

TBA

To Be Announced

 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

1


 

 

 

 

Schedule of Investments (continued)

BlackRock Income Trust, Inc. (BKT)

 

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Non-Agency Mortgage-Backed
Securities

 

Par
(000)

 

Value

 

Interest Only Collateralized
Mortgage Obligations (concluded)

 

 

 

 

 

 

 

First Boston Mortgage Securities
Corp., Series C, Class I-O,
10.97%, 4/25/17

 

$

21

 

$

3,335

 

GSMPS Mortgage Loan Trust,
Series 1998-5, Class IO, 0.29%,
6/19/27 (a)(b)

 

 

4,596

 

 

104,089

 

IndyMac INDX Mortgage Loan
Trust, Series 2006-AR33,
Class 4AX, 0.17%, 1/25/37

 

 

100,414

 

 

496,045

 

MASTR Adjustable Rate Mortgages
Trust, Series 2004-3, Class 3AX,
0.98%, 4/25/34

 

 

11,848

 

 

131,153

 

MASTR Alternative Loans Trust,
Series 2003-9, Class 15X2,
6.00%, 1/25/19

 

 

570

 

 

85,458

 

Morgan Stanley Mortgage Loan
Trust, Series 2004-3, Class 1AX,
5.00%, 5/25/19

 

 

613

 

 

64,719

 

Sequoia Mortgage Trust, Series
2005-2, Class XA, 1.00%,
3/20/35 (a)

 

 

38,328

 

 

622,830

 

Structured Adjustable Rate Mortgage
Loan Trust:

 

 

 

 

 

 

 

Series 2005-20, Class 3AX,
5.50%, 10/25/35

 

 

171

 

 

18,426

 

Series 2006-7, Class 3AS,
5.32%, 8/25/36 (a)

 

 

26,932

 

 

2,689,698

 

Vendee Mortgage Trust,
Series 1999-2, Class 1IO,
0.04%, 5/15/29 (a)

 

 

55,336

 

 

96,440

 

 

 

 

 

 

 

4,991,898

 

Interest Only Commercial Mortgage-Backed
Securities — 0.0%

 

 

 

 

 

 

 

CS First Boston Mortgage Securities
Corp., Series 1997-C1, Class AX,
1.36%, 6/20/29 (a)(b)

 

 

2,770

 

 

73,969

 

Morgan Stanley Capital I, Series
1997-HF1, Class X, 2.19%,
7/15/29 (a)(b)

 

 

8

 

 

1

 

 

 

 

 

 

 

73,970

 

Principal Only Collateralized Mortgage Obligations — 0.7%

 

 

 

 

 

 

 

Countrywide Home Loan Mortgage
Pass-Through Trust, Class PO:

 

 

 

 

 

 

 

Series 2003-26, 8/25/33

 

 

1,719

 

 

1,421,300

 

Series 2003-J4, 6/25/33

 

 

308

 

 

247,492

 

Series 2003-J5, 7/25/33

 

 

479

 

 

384,573

 

Series 2003-J8, 9/25/23

 

 

372

 

 

318,616

 

Drexel Burnham Lambert CMO Trust,
Class 1:

 

 

 

 

 

 

 

Series K, 9/23/17

 

 

9

 

 

8,676

 

Series V, 9/01/18

 

 

33

 

 

32,419

 

 

 

 

 

 

 

 

 

Non-Agency Mortgage-Backed
Securities

 

Par
(000)

 

Value

 

Principal Only Collateralized
Mortgage Obligations (concluded)

 

 

 

 

 

 

 

MASTR Asset Securitization Trust,
Series 2004-3, Class 4A15,
3/25/34

 

$

74

 

$

66,703

 

Residential Asset Securitization
Trust, Series 2005-A15, Class
1A8, 2/25/36

 

 

847

 

 

734,528

 

Structured Mortgage Asset
Residential Trust, Series
1993-3C, Class CX, 4/25/24

 

 

8

 

 

6,123

 

Washington Mutual Alternative
Mortgage Pass-Through
Certificates, Series 2005-9,
Class CP, 11/25/35

 

 

564

 

 

385,659

 

 

 

 

 

 

 

3,606,089

 

Total Non-Agency Mortgage-Backed
Securities – 4.4%

 

 

 

 

 

22,705,099

 

 

 

 

 

 

 

 

 


US Government Sponsored
Agency Securities

 

 

 

 

 

 

 

Agency Obligations — 2.4%

 

 

 

 

 

 

 

Federal Housing Administration,
General Motors Acceptance Corp.
Projects, Series 56, Series 56, 7.43%,
11/01/22

 

 

213

 

 

213,233

 

Federal Housing Administration,
Merrill Projects, Series 54,
7.43%, 5/15/23

 

 

2

 

 

1,957

 

Federal Housing Administration,
Reilly Projects, Series 41,
Series 41, 8.28%, 3/01/20

 

 

228

 

 

227,847

 

Federal Housing Administration, USGI Projects:

 

 

 

 

 

 

 

Series 87, 7.43%, 12/01/22

 

 

65

 

 

65,289

 

Series 99, 7.43%, 6/01/21

 

 

4,363

 

 

4,362,620

 

Series 99, 7.43%, 10/01/23

 

 

41

 

 

40,589

 

Series 99, 7.43%, 10/01/23

 

 

120

 

 

119,921

 

Resolution Funding Corp., 9.89%,
4/15/30 (c)

 

 

13,000

 

 

7,073,898

 

 

 

 

 

 

 

12,105,354

 

Collateralized Mortgage Obligations — 11.8%

 

 

 

 

 

 

 

Fannie Mae Mortgage-Backed
Securities:

 

 

 

 

 

 

 

Series 1991-46, Class S,
2.45%, 5/25/21 (a)

 

 

93

 

 

5,680

 

Series 1991-87, Class S,
25.94%, 8/25/21 (a)

 

 

47

 

 

70,100

 

Series 1993-247, Class SN,
10.00%, 12/25/23 (a)

 

 

398

 

 

431,919

 

Series 2003-32, Class VT,
6.00%, 9/25/15

 

 

2,852

 

 

2,880,347

 

Series 2003-135, Class PB,
6.00%, 1/25/34

 

 

12,264

 

 

14,225,209

 

 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

2


 

 

 

 

Schedule of Investments (continued)

BlackRock Income Trust, Inc. (BKT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

US Government Sponsored
Agency Securities

 

Par
(000)

 

Value

 

Collateralized Mortgage
Obligations (continued)

 

 

 

 

 

 

 

Fannie Mae Mortgage-Backed
Securities (concluded):

 

 

 

 

 

 

 

Series 2004-29, Class HC,
7.50%, 7/25/30

 

$

351

 

$

357,718

 

Series 2004-31, Class ZG,
7.50%, 5/25/34

 

 

3,231

 

 

4,157,879

 

Series 2005-73, Class DS,
16.88%, 8/25/35 (a)

 

 

2,956

 

 

3,583,915

 

Series 2006-2, Class KP,
0.00%, 2/25/35 (a)

 

 

49

 

 

48,790

 

Series G-7, Class S, 16.87%,
3/25/21 (a)

 

 

—

(d)

 

4,350

 

Series G-17, Class S, 0.58%,
6/25/21 (a)

 

 

247

 

 

5,576

 

Series G-33, Class PV, 1.08%,
10/25/21

 

 

284

 

 

5,627

 

Series G-49, Class S, 5.55%,
12/25/21 (a)

 

 

—

(d)

 

1,946

 

Freddie Mac Mortgage-Backed
Securities:

 

 

 

 

 

 

 

Series 19, Class F, 8.50%,
3/15/20

 

 

77

 

 

84,245

 

Series 19, Class R, 9.76%,
3/15/20

 

 

7

 

 

1,129

 

Series 40, Class K, 6.50%,
8/17/24

 

 

344

 

 

405,285

 

Series 75, Class R, 9.50%,
1/15/21

 

 

—

(d)

 

2

 

Series 75, Class RS, 26.53%,
1/15/21 (a)

 

 

—

(d)

 

2

 

Series 173, Class R, 9.00%,
11/15/21

 

 

12

 

 

12

 

Series 173, Class RS, 9.25%,
11/15/21 (a)

 

 

—

(d)

 

12

 

Series 192, Class U, 1.01%,
2/15/22 (a)

 

 

2

 

 

49

 

Series 1057, Class J, 1.01%,
3/15/21

 

 

94

 

 

1,930

 

Series 1160, Class F, 39.10%,
10/15/21 (a)

 

 

17

 

 

34,045

 

Series 1961, Class H, 6.50%,
5/15/12

 

 

—

(d)

 

38

 

Series 2218, Class Z, 8.50%,
3/15/30

 

 

5,240

 

 

6,066,714

 

Series 2542, Class UC, 6.00%,
12/15/22

 

 

7,702

 

 

8,438,548

 

Series 2758, Class KV, 5.50%,
5/15/23 (a)

 

 

9,318

 

 

10,678,455

 

Series 2861, Class AX,
10.43%, 9/15/34 (a)

 

 

208

 

 

223,574

 

Series 2927, Class BZ, 5.50%,
2/15/35

 

 

3,005

 

 

3,666,401

 

Ginnie Mae Mortgage-Backed
Securities:

 

 

 

 

 

 

 

Series 1996-5, Class Z,
7.00%, 5/16/26

 

 

535

 

 

576,546

 

 

 

 

 

 

 

 

 

US Government Sponsored
Agency Securities

 

Par
(000)

 

Value

 

Collateralized Mortgage
Obligations (concluded)

 

 

 

 

 

 

 

Ginnie Mae Mortgage-Backed Securities
(concluded):

 

 

 

 

 

 

 

Series 2001-33, Class PB,
6.50%, 7/20/31

 

$

881

 

$

910,546

 

Series 2004-89, Class PE,
6.00%, 10/20/34

 

 

3,392

 

 

3,706,025

 

 

 

 

 

 

 

60,572,614

 

Federal Deposit Insurance Corporation Guaranteed — 0.8%

 

 

 

 

 

 

 

Citigroup Funding, Inc., 1.88%,
10/22/12

 

 

3,800

 

 

3,859,987

 

Interest Only Collateralized Mortgage Obligations — 4.9%

 

 

 

 

 

 

 

Fannie Mae Mortgage-Backed
Securities:

 

 

 

 

 

 

 

Series 7, Class 2, 8.50%,
4/01/17

 

 

4

 

 

592

 

Series 89, Class 2, 8.00%,
10/01/18

 

 

7

 

 

908

 

Series 94, Class 2, 9.50%,
8/01/21

 

 

3

 

 

556

 

Series 1990-123, Class M,
1.01%, 10/25/20

 

 

22

 

 

446

 

Series 1990-136, Class S,
0.02%, 11/25/20 (a)

 

 

11,396

 

 

15,490

 

Series 1991-99, Class L,
0.93%, 8/25/21

 

 

109

 

 

2,017

 

Series 1991-139, Class PT,
0.65%, 10/25/21

 

 

228

 

 

3,206

 

Series 1993-199, Class SB,
7.22%, 10/25/23 (a)

 

 

717

 

 

87,931

 

Series 1996-68, Class SC,
7.82%, 1/25/24 (a)

 

 

371

 

 

17,642

 

Series 1997-50, Class SI,
1.20%, 4/25/23 (a)

 

 

337

 

 

11,265

 

Series 1997-90, Class M,
6.00%, 1/25/28

 

 

5,658

 

 

934,436

 

Series 1999-W4, Class IO,
6.50%, 12/25/28

 

 

335

 

 

59,011

 

Series 2005-43, Class IC,
6.00%, 3/25/34

 

 

11

 

 

805

 

Series 2010-74, Class DI, IO,
REMIC, 5.00%, 12/25/39

 

 

60,710

 

 

7,747,518

 

Series 2010-75, Class PI,
4.50%, 12/25/36

 

 

22,878

 

 

1,759,717

 

Series 2010-126, Class UI,
5.50%, 10/25/40

 

 

21,101

 

 

3,704,206

 

Series G-10, Class S, 1.08%,
5/25/21 (a)

 

 

516

 

 

10,195

 

Series G-12, Class S, 1.14%,
5/25/21 (a)

 

 

376

 

 

9,064

 

Series G-50, Class G, 1.16%,
12/25/21

 

 

38

 

 

115

 

Series G92-5, Class H, 9.00%,
1/25/22

 

 

79

 

 

13,509

 

Series G92-12, Class C,
1.02%, 2/25/22 (a)

 

 

236

 

 

4,201

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

3


 

 

 

 

Schedule of Investments (continued)

BlackRock Income Trust, Inc. (BKT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

US Government Sponsored
Agency Securities

 

Par
(000)

 

Value

 

Interest Only Collateralized
Mortgage Obligations (concluded)

 

 

 

 

 

 

 

Freddie Mac Mortgage-Backed
Securities:

 

 

 

 

 

 

 

Series G92-60, Class SB,
1.60%, 10/25/22 (a)

 

$

238

 

$

9,270

 

Series 176, Class M, 1.01%,
7/15/21

 

 

29

 

 

607

 

Series 200, Class R, 95.96%,
12/15/22 (a)

 

 

1

 

 

13

 

Series 1043, Class H, 0.04%,
2/15/21 (a)

 

 

8,294

 

 

17,682

 

Series 1054, Class I, 0.86%,
3/15/21 (a)

 

 

68

 

 

1,328

 

Series 1056, Class KD, 1.08%,
3/15/21

 

 

58

 

 

1,383

 

Series 1148, Class E, 1.17%,
10/15/21 (a)

 

 

166

 

 

3,256

 

Series 1914, Class PC, 0.75%,
12/15/11

 

 

1

 

 

—

 

Series 2545, Class NI, 5.50%,
3/15/22

 

 

89

 

 

805

 

Series 2559, Class IO, 0.50%,
8/15/30 (a)

 

 

193

 

 

2,548

 

Series 2611, Class QI, 5.50%,
9/15/32

 

 

3,534

 

 

463,136

 

Series 2949, Class IO, 5.50%,
3/15/35

 

 

614

 

 

41,464

 

Series 3744, Class PI, 4.00%,
6/15/39

 

 

20,958

 

 

3,349,169

 

Series 3745, Class IN, 4.00%,
1/15/35

 

 

47,101

 

 

5,393,721

 

Ginnie Mae Mortgage-Backed
Securities, Series 2010-101,
Class YT, 2.00%, 8/16/13

 

 

58,575

 

 

1,435,111

 

 

 

 

 

 

 

25,102,323

 

Mortgage-Backed Securities — 118.4%

 

 

 

 

 

Fannie Mae Mortgage-Backed
Securities:

 

 

 

 

 

 

 

3.50%, 12/15/41 (e)

 

 

7,000

 

 

7,138,907

 

4.00%, 1/01/41 – 12/15/41 (e)

 

 

30,191

 

 

31,489,302

 

4.50%, 9/01/25 – 12/15/41 (e)(f)(g)

 

 

198,217

 

 

211,423,717

 

5.00%, 1/01/23 - 12/15/41 (e)(g)

 

 

118,038

 

 

127,418,289

 

5.50%, 12/15/26 - 12/15/41 (e)(f)

 

 

130,159

 

 

141,985,347

 

5.97%, 8/01/16

 

 

3,045

 

 

3,481,017

 

6.00%, 12/15/41 (e)

 

 

21,800

 

 

23,894,845

 

6.50%, 12/01/37 - 10/01/39 (g)

 

 

45,242

 

 

50,340,874

 

7.50%, 2/01/22

 

 

—

(d)

 

118

 

9.50%, 1/01/19 - 9/01/19

 

 

3

 

 

2,820

 

Freddie Mac Mortgage-Backed
Securities:

 

 

 

 

 

 

 

2.55%, 10/01/34 (a)

 

 

304

 

 

316,723

 

2.61%, 1/01/35 (a)

 

 

201

 

 

202,240

 

4.51%, 11/01/17 (a)

 

 

15

 

 

15,174

 

5.00%, 4/01/22 – 12/15/26 (f)

 

 

1,044

 

 

1,121,622

 

5.50%, 12/15/26 (e)

 

 

7,000

 

 

7,560,000

 

9.00%, 9/01/20 (f)

 

 

51

 

 

57,480

 

 

 

 

 

 

 

 

 

US Government Sponsored
Agency Securities

 

Par
(000)

 

Value

 

Mortgage-Backed Securities
(concluded)

 

 

 

 

 

 

 

Ginnie Mae Mortgage-Backed
Securities:

 

 

 

 

 

 

 

7.50%, 12/15/23

 

$

218

 

$

251,151

 

8.00%, 10/15/22 - 2/15/29

 

 

80

 

 

93,537

 

9.00%, 1/15/23 – 12/15/23

 

 

8

 

 

9,323

 

 

 

 

 

 

 

606,802,486

 

Principal Only Collateralized Mortgage Obligations — 0.4%

 

 

 

 

 

 

 

Fannie Mae Mortgage-Backed
Securities:

 

 

 

 

 

 

 

Series 203, Class 1, 2/01/23

 

 

19

 

 

18,149

 

Series 228, Class 1, 6/01/23

 

 

13

 

 

12,186

 

Series 1991-7, Class J,
2/25/21

 

 

19

 

 

16,910

 

Series 1993-51, Class E,
2/25/23

 

 

64

 

 

59,871

 

Series 1993-70, Class A,
5/25/23

 

 

10

 

 

9,321

 

Series 1999-W4, Class PO,
2/25/29

 

 

179

 

 

158,330

 

Series 2002-13, Class PR,
3/25/32

 

 

373

 

 

328,825

 

Series G93-2, Class KB,
1/25/23

 

 

158

 

 

141,808

 

Freddie Mac Mortgage-Backed
Securities:

 

 

 

 

 

 

 

Series 1418, Class M,
11/15/22

 

 

69

 

 

63,340

 

Series 1571, Class G,
8/15/23

 

 

409

 

 

359,586

 

Series 1691, Class B,
3/15/24

 

 

924

 

 

855,052

 

Series 1739, Class B,
2/15/24

 

 

31

 

 

30,434

 

Series T-8, Class A10,
11/15/28

 

 

138

 

 

123,752

 

 

 

 

 

 

 

2,177,564

 

Total US Government Sponsored Agency
Securities – 138.7%

 

 

 

 

 

710,620,328

 

 

 

 

 

 

 

 

 


US Treasury Obligations

 

 

 

 

 

 

 

US Treasury Bonds:

 

 

 

 

 

 

 

6.25%, 8/15/23 (g)

 

 

3,320

 

 

4,677,050

 

4.38%, 5/15/40 (g)

 

 

36,985

 

 

46,566,408

 

4.38%, 5/15/41

 

 

1,220

 

 

1,539,487

 

3.13%, 11/15/41

 

 

2,920

 

 

2,955,130

 

US Treasury Notes:

 

 

 

 

 

 

 

2.13%, 2/29/16

 

 

2,540

 

 

2,688,232

 

1.50%, 6/30/16

 

 

1,050

 

 

1,081,172

 

1.00%, 8/31/16

 

 

4,865

 

 

4,890,843

 

1.00%, 10/31/16

 

 

295

 

 

296,014

 

0.88%, 11/30/16 (g)

 

 

3,750

 

 

3,735,645

 

 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

4


 

 

 

 

Schedule of Investments (continued)

BlackRock Income Trust, Inc. (BKT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

US Treasury Obligations

 

Par
(000)

 

Value

 

US Treasury Notes (concluded):

 

 

 

 

 

 

 

2.25%, 7/31/18

 

$

3,375

 

$

3,549,022

 

2.63%, 8/15/20 (f)

 

 

1,455

 

 

1,543,550

 

2.13%, 8/15/21 (g)

 

 

19,700

 

 

19,833,901

 

2.00%, 11/15/21 (g)

 

 

6,000

 

 

5,962,500

 

4.50%, 8/15/39

 

 

330

 

 

423,019

 

3.75%, 8/15/41 (g)

 

 

19,140

 

 

21,777,722

 

Total US Treasury Obligations – 23.7%

 

 

 

 

 

121,519,695

 

Total Long-Term Investments
(Cost – $843,725,371) – 168.9%

 

 

 

 

 

865,373,196

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

 

 

 

 

 

 

Borrowed Bond Agreements - 2.3%

 

 

 

 

 

 

 

BNP Paribas SA:

 

 

 

 

 

 

 

0.10%, Open 1

 

 

943

 

 

943,000

 

0.08%, Open 1

 

 

7,059

 

 

7,058,906

 

Credit Suisse Securities (USA) LLC,
0.04%, Open 1

 

 

3,774

 

 

3,774,413

 

 

 

 

 

 

 

11,776,319

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

 

 

Money Market Fund – 0.4%

 

 

 

 

 

 

 

BlackRock Liquidity Funds,
TempFund, Institutional Class,
0.13% (h)(i)

 

 

1,849,713

 

 

1,849,713

 

Total Short-Term Securities
(Cost – $13,626,032) – 2.7%

 

 

 

 

 

13,626,032

 

 

 

 

 

 

 

 

 

 

Options Purchased

 

Contracts

 

 

 

 

Exchange-Traded Put Options — 0.0%

 

 

 

 

 

 

 

Eurodollar 1-year Mid-Curve Options:

 

 

 

 

 

 

 

Strike Price $99, Expires
1/13/12

 

 

137

 

 

9,419

 

Strike Price $99, Expires
3/16/12

 

 

300

 

 

41,250

 

 

 

 

 

 

 

50,669

 

 

 

 

 

 

 

 

 

Options Purchased

 

Notional
Amount
(000)

 

Value

 

Over-the-Counter Call Swaptions — 0.3%

 

 

 

 

 

 

 

Receive a fixed rate of 5.47% and
pay a floating rate based on
3-month LIBOR, Expires 5/19/12,
Broker Bank of America NA

 

$

6,200

 

$

1,762,924

 

Over-the-Counter Put Swaptions — 0.0%

 

 

 

 

 

 

 

Pay a fixed rate of 5.47% and
receive a floating rate based on
3-month LIBOR, Expires 5/19/12,
Broker Bank of America NA

 

 

6,200

 

 

160

 

Total Options Purchased
(Cost – $614,487) – 0.3%

 

 

 

 

 

1,813,753

 

Total Investments Before Borrowed Bonds, TBA
Sale Commitments and Options Written
(Cost – $857,965,890*) – 171.9%

 

 

 

 

 

880,812,981

 

 

 

 

 

 

 

 

 

 

Borrowed Bonds

 

Par
(000)

 

 

 

 

US Treasury Notes:

 

 

 

 

 

 

 

1.25%, 2/15/14

 

 

920

 

 

(939,263

)

2.13%, 2/29/16

 

 

9,385

 

 

(9,932,699

)

1.50%, 6/30/16

 

 

1,050

 

 

(1,081,173

)

1.00%, 8/31/16

 

 

4,865

 

 

(4,890,843

)

1.00%, 10/31/16

 

 

4,060

 

 

(4,073,958

)

Total Borrowed Bonds
(Proceeds – $20,243,095) – (4.1)%

 

 

 

 

 

(20,917,936

)

 

 

 

 

 

 

 

 

 

TBA Sale Commitments (e)

 

 

 

 

 

 

 

Fannie Mae Mortgage-Backed
Securities:

 

 

 

 

 

 

 

4.50%, 12/15/41

 

 

15,100

 

 

(16,055,546

)

5.00%, 12/15/41

 

 

1,100

 

 

(1,179,922

)

Freddie Mac Mortgage-Backed
Securities, 5.00%, 12/15/26

 

 

1,000

 

 

(1,068,125

)

Total TBA Sale Commitments
(Proceeds – $18,279,781) – (3.6)%

 

 

 

 

 

(18,303,593

)

 

 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

5


 

 

 

 

Schedule of Investments (continued)

BlackRock Income Trust, Inc. (BKT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Options Written

 

Notional
Amount
(000)

 

Value

 

Over-the-Counter Call Swaptions — (0.3)%

 

 

 

 

 

 

 

Pay a fixed rate of 5.33% and
receive a floating rate based on
3-month LIBOR, Expires 7/17/13,
Broker JPMorgan Chase Bank NA

 

$

11,100

 

$

(1,725,468

)

Over-the-Counter Put Swaptions — 0.0%

 

 

 

 

 

 

 

Receive a fixed rate of 5.33% and
pay a floating rate based on
3-month LIBOR, Expires 7/17/13,
Broker JPMorgan Chase Bank NA

 

 

11,100

 

 

(17,270

)

Total Options Written
(Premiums Received – $706,515) – (0.3)%

 

 

 

 

 

(1,742,738

)

Total Investments, Net of TBA Sale Commitments,
Options Written and Borrowed Bonds - 163.9%

 

 

 

 

 

839,848,714

 

Liabilities in Excess of Other Assets – (63.9)%

 

 

 

 

 

(327,517,549

)

Net Assets – 100.0%

 

 

 

 

$

512,331,165

 

 

 


*


The cost and unrealized appreciation (depreciation) of investments as of November 30, 2011, as computed for federal income tax purposes, were as follows:


 

 

 

 

 

Aggregate cost

 

$

857,952,939

 

Gross unrealized appreciation

 

$

42,884,983

 

Gross unrealized depreciation

 

 

(20,024,941

)

Net unrealized appreciation

 

$

22,860,042

 

 

 

(a)

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

 

 

(b)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.

 

 

(c)

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

 

 

(d)

Amount is less than $500.

 

 

(e)

Represents or includes a TBA transaction. Unsettled TBA transactions as of November 30, 2011 were as follows:


 

 

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation
(Depreciation)

 

 

Citigroup Global Markets, Inc.

 

$

3,875,406

 

$

2,969

 

 

Credit Suisse International

 

$

136,053,941

 

$

182,707

 

 

Goldman Sachs & Co.

 

$

7,560,000

 

$

3,281

 

 

Greenwich Financial Services

 

$

4,760,937

 

$

(688

)

 

JPMorgan Chase Securities, Inc.

 

$

22,510,642

 

$

41,548

 

 

UBS AG

 

$

(17,235,468

)

$

(19,437

)

 

 

(f)

All or a portion of security has been pledged as collateral in connection with swaps.

 

 

(g)

All or a portion of security has been pledged as collateral in connection with open reverse repurchase agreements.

 

 

(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
August 31,
2011

 

Net
Activity

 

Shares
Held at
November 30,
2011

 

Income

 

BlackRock
Liquidity
Funds,
TempFund,
Institutional
Class

 

 

3,958,025

 

 

(2,108,312

)

 

1,849,713

 

$

1,853

 

 

 

(i)

Represents the current yield as of report date.

 

 

•

For Trust compliance purposes, the Trust’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Trust management. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.


 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

6


 

 

 

 

Schedule of Investments (continued)

BlackRock Income Trust, Inc. (BKT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

•

Reverse repurchase agreements outstanding as of November 30, 2011 were as follows:

 

 

Counterparty

 

Interest
Rate

 

Trade
Date

 

Maturity
Date1

 

Net Closing
Amount

 

Face
Amount

 

 

Barclays Capital, Inc.

 

0.08

%

10/25/11

 

Open

 

$

4,669,134

 

$

4,668,750

 

 

Deutsche Bank Securities,
Inc.

 

0.24

%

11/14/11

 

12/12/11

 

 

68,312,107

 

 

68,304,365

 

 

Deutsche Bank Securities,
Inc.

 

0.24

%

11/16/11

 

12/12/11

 

 

31,190,119

 

 

31,187,000

 

 

Merrill Lynch & Co., Inc.

 

0.13

%

11/16/11

 

Open

 

 

36,486,845

 

 

36,484,869

 

 

Credit Suisse Securities
(USA) LLC

 

0.13

%

11/29/11

 

Open

 

 

10,310,074

 

 

10,310,000

 

 

BNP Paribas

 

0.10

%

11/30/11

 

12/01/11

 

 

22,369,937

 

 

22,369,875

 

 

BNP Paribas

 

0.13

%

11/30/11

 

12/01/11

 

 

10,124,662

 

 

10,124,625

 

 

Credit Suisse Securities
(USA) LLC

 

0.01

%

11/30/11

 

12/01/11

 

 

4,505,626

 

 

4,505,625

 

 

Credit Suisse Securities
(USA) LLC

 

0.12

%

11/30/11

 

12/01/11

 

 

4,080,014

 

 

4,080,000

 

 

Total

 

 

 

 

 

 

 

$

192,048,518

 

$

192,035,109

 

 

 

1          Certain agreements have no stated maturity and can be terminated by either party at any time.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

•

Financial futures contracts purchased as of November 30, 2011 were as follows:

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Appreciation
(Depreciation)

 

 

82

 

5-Year US Treasury Note

 

Chicago Board of Trade

 

March 2012

 

$

10,056,531

 

$

(3,524

)

 

143

 

90-Day Euro Dollar

 

Chicago Mercantile

 

March 2012

 

$

35,535,500

 

 

143,394

 

 

44

 

Ultra Long US Treasury Bond

 

Chicago Board of Trade

 

March 2012

 

$

6,839,250

 

 

(25,177

)

 

155

 

90-Day Euro Dollar

 

Chicago Mercantile

 

June 2012

 

$

38,502,000

 

 

129,123

 

 

169

 

90-Day Euro Dollar

 

Chicago Mercantile

 

September 2012

 

$

41,973,263

 

 

318,948

 

 

98

 

90-Day Euro Dollar

 

Chicago Mercantile

 

December 2012

 

$

24,337,075

 

 

106,929

 

 

70

 

90-Day Euro Dollar

 

Chicago Mercantile

 

March 2013

 

$

17,381,000

 

 

265,045

 

 

96

 

90-Day Euro Dollar

 

Chicago Mercantile

 

June 2013

 

$

23,827,200

 

 

219,045

 

 

90

 

90-Day Euro Dollar

 

Chicago Mercantile

 

September 2013

 

$

22,324,500

 

 

381,165

 

 

57

 

90-Day Euro Dollar

 

Chicago Mercantile

 

December 2013

 

$

14,124,600

 

 

301,506

 

 

26

 

90-Day Euro Dollar

 

Chicago Mercantile

 

March 2014

 

$

6,434,350

 

 

144,828

 

 

Total

 

 

 

 

 

 

 

 

 

 

$

1,981,282

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

•

Financial futures contracts sold as of November 30, 2011 were as follows:

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

 

Notional
Value

 

 

Unrealized
Appreciation
(Depreciation)

 

 

151

 

90-Day Euro Dollar

 

Chicago Mercantile

 

December 2011

 

$

37,548,981

 

$

(104,278

)

 

74

 

2-Year US Treasury Note

 

Chicago Board of Trade

 

December 2011

 

$

16,307,750

 

 

420

 

 

163

 

5-Year US Treasury Note

 

Chicago Board of Trade

 

December 2011

 

$

20,050,274

 

 

5,338

 

 

9

 

30-Year US Treasury Bond

 

Chicago Board of Trade

 

December 2011

 

$

1,274,625

 

 

264

 

 

1,576

 

10-Year US Treasury Note

 

Chicago Board of Trade

 

March 2012

 

$

203,845,750

 

 

500,761

 

 

121

 

2-Year US Treasury Note

 

Chicago Board of Trade

 

March 2012

 

$

26,680,500

 

 

(17,246

)

 

62

 

30-Year US Treasury Bond

 

Chicago Board of Trade

 

March 2012

 

$

8,765,250

 

 

98,336

 

 

Total

 

 

 

 

 

 

 

 

 

 

$

483,595

 

 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

7


 

 

 

Schedule of Investments (continued)

BlackRock Income Trust, Inc. (BKT)

 

 

•

Interest rate swaps outstanding as of November 30, 2011 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed
Rate

 

Floating
Rate

 

Counterparty

 

Expiration
Date

 

Notional
Amount
(000)

 

Unrealized
Appreciation
(Depreciation)

 

0.83%(a)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc.

 

 

7/27/12

 

$

34,800

 

$

(59,415

)

4.88%(b)

 

 

3-month LIBOR

 

 

UBS AG

 

 

3/21/15

 

$

25,000

 

 

3,280,131

 

4.87%(b)

 

 

3-month LIBOR

 

 

Goldman Sachs & Co.

 

 

1/25/16

 

$

5,500

 

 

847,732

 

2.81%(b)

 

 

3-month LIBOR

 

 

Citibank NA

 

 

2/06/16

 

$

20,000

 

 

1,413,947

 

5.72%(b)

 

 

3-month LIBOR

 

 

JPMorgan Chase & Co.

 

 

7/14/16

 

$

5,400

 

 

1,099,822

 

1.22%(a)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc.

 

 

10/06/16

 

$

6,400

 

 

15,244

 

5.51%(b)

 

 

3-month LIBOR

 

 

Bank of America NA

 

 

8/03/17

 

$

95,147

 

 

20,986,351

 

5.88%(a)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc.

 

 

6/25/18

 

$

31,930

 

 

(7,945,617

)

4.55%(a)

 

 

3-month LIBOR

 

 

Citibank NA

 

 

9/26/18

 

$

41,600

 

 

(7,591,469

)

4.31%(a)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc. C

 

 

10/01/18

 

$

66,000

 

 

(11,044,106

)

3.09%(a)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc.

 

 

3/09/19

 

$

25,700

 

 

(2,241,373

)

3.17%(b)

 

 

3-month LIBOR

 

 

Bank of America NA

 

 

3/18/19

 

$

4,700

 

 

433,623

 

2.88%(b)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc.

 

 

4/01/19

 

$

39,700

 

 

2,866,296

 

3.23%(a)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc.

 

 

5/19/19

 

$

2,800

 

 

(270,418

)

3.90%(a)

 

 

3-month LIBOR

 

 

Barclays PLC

 

 

6/05/19

 

$

20,000

 

 

(2,885,146

)

3.55%(a)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc.

 

 

8/18/19

 

$

15,000

 

 

(1,921,817

)

5.49%(a)

 

 

3-month LIBOR

 

 

JPMorgan Chase & Co.

 

 

10/28/19

 

$

1,400

 

 

(328,829

)

3.67%(b)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc.

 

 

12/21/19

 

$

2,000

 

 

258,666

 

5.67%(a)

 

 

3-month LIBOR

 

 

Citigroup Global Markets, Inc.

 

 

1/06/20

 

$

12,400

 

 

(2,976,081

)

3.88%(b)

 

 

3-month LIBOR

 

 

Morgan Stanley & Co., Inc.

 

 

1/07/20

 

$

7,600

 

 

1,107,341

 

3.71%(a)

 

 

3-month LIBOR

 

 

Deutsche Bank Securities, Inc.

 

 

2/11/20

 

$

6,200

 

 

(822,031

)

3.73%(b)

 

 

3-month LIBOR

 

 

Morgan Stanley & Co., Inc.

 

 

5/05/20

 

$

28,000

 

 

3,785,637

 

3.43%(b)

 

 

3-month LIBOR

 

 

JPMorgan Chase & Co.

 

 

3/28/21

 

$

7,000

 

 

1,086,058

 

5.41%(b)

 

 

3-month LIBOR

 

 

JPMorgan Chase & Co.

 

 

8/15/22

 

$

9,565

 

 

2,908,982

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

$

2,003,528

 

 

 

(a)

Pays fixed interest rate and receives floating rate.

 

(b)

Pays floating interest rate and receives fixed rate.

 

 

 

•

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)


 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

8


 

 

 

Schedule of Investments (continued)

BlackRock Income Trust, Inc. (BKT)

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 annual report.

The following tables summarize the inputs used as of November 30, 2011 in determining the fair valuation of the Trusts’ investments and derivative financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Asset-Backed Securities

 

$

—

 

$

9,514,247

 

$

1,013,827

 

$

10,528,074

 

Non-Agency Mortgage-
Backed Securities

 

 

—

 

 

18,746,698

 

 

3,958,401

 

 

22,705,099

 

US Government
Sponsored Agency
Securities

 

 

—

 

 

705,587,702

 

 

5,032,626

 

 

710,620,328

 

US Treasury
Obligations

 

 

—

 

 

121,519,695

 

 

—

 

 

121,519,695

 

Short-Term Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowed Bonds
Agreements

 

 

—

 

 

11,776,319

 

 

—

 

 

11,776,319

 

Money Market Funds

 

 

1,849,713

 

 

—

 

 

—

 

 

1,849,713

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowed Bonds

 

 

—

 

 

(20,917,936

)

 

—

 

 

(20,917,936

)

TBA Sale Commitments

 

 

—

 

 

(18,303,593

)

 

—

 

 

(18,303,593

)

Total

 

$

1,849,713

 

$

827,923,132

 

$

10,004,854

 

$

839,777,699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Derivative Financial Instruments1

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

2,665,770

 

$

41,852,915

 

 

—

 

$

44,518,685

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

 

(150,225

)

 

(39,829,040

)

 

—

 

 

(39,979,265

)

Total

 

$

2,515,545

 

$

2,023,875

 

 

—

 

$

4,539,420

 

 

 

1

Derivative financial instruments are swaps, financial futures contracts, interest rate floors and options. Swaps and financial futures contracts are valued at the unrealized appreciation/depreciation on the instrument and interest rate floors and options are shown at value.

 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

9


 

 

 

Schedule of Investments (concluded)

BlackRock Income Trust, Inc. (BKT)

The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asset-Backed
Securities

 

Non-Agency
Mortgage-Backed Securities

 

US
Government
Sponsored
Agency
Securities

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, as of August 31, 2011

 

$

1,038,628

 

$

4,432,527

 

$

5,096,285

 

$

10,567,440

 

Accrued discounts/premiums

 

 

(46,525

)

 

98,734

 

 

256

 

 

52,464

 

Realized gain (loss)

 

 

(11,668

)

 

(276

)

 

(2,561

)

 

(14,504

)

Change in unrealized
appreciation/depreciation2

 

 

33,392

 

 

(445,725

)

 

5,615

 

 

(406,718

)

Purchases

 

 

—

 

 

—

 

 

—

 

 

—

 

Sales

 

 

—

 

 

(126,859

)

 

(66,969

)

 

(193,829

)

Transfers in3

 

 

—

 

 

—

 

 

—

 

 

—

 

Transfers out3

 

 

—

 

 

—

 

 

—

 

 

—

 

Balance, as of November 30, 2011

 

$

1,013,827

 

$

3,958,401

 

$

5,032,626

 

$

10,004,854

 

 

 

2

The change in unrealized appreciation/depreciation on securities still held on November 30, 2011 was $(406,717).

 

3

The Trust’s policy is to recognize transfers in and transfers out as of the beginning of the period of the event or the change in circumstances that caused the transfer.

A reconciliation of Level 3 investments and derivative financial instruments is presented when the Trust had a significant amount of Level 3 investments and derivatives at the beginning and/or end of the period in relation to net assets.


 

 

 

 

 

 

 

 

 

BLACKROCK INCOME TRUST, INC.

NOVEMBER 30, 2011

10

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 Income Trust, Inc.
   

 

 By: /s/ John M. Perlowski

 

 

 

John M. Perlowski

 

 

Chief Executive Officer (principal executive officer) of

 

 

BlackRock Income Trust, Inc.

 

 

 

Date: January 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 Income Trust, Inc.

 

 

 

Date: January 23, 2012

 

 

 

 By: /s/ Neal J. Andrews

 

 

 

Neal J. Andrews

 

 

Chief Financial Officer (principal financial officer) of

 

 

BlackRock Income Trust, Inc.

 

 

 

 

Date: January 23, 2012