BlackRock Energy & Resources Trust

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: 811-21656

Name of Fund:  BlackRock Energy and Resources Trust (BGR)

Fund Address:   100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service:  John M. Perlowski, Chief Executive Officer, BlackRock Energy and Resources Trust, 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: 12/31/2016

Date of reporting period: 09/30/2016

Item 1 – Schedule of Investments

Schedule of Investments September 30, 2016 (Unaudited)      BlackRock Energy and Resources Trust (BGR)   
     (Percentages shown are based on Net Assets)   

 

Common Stocks    Shares      Value  

Energy Equipment & Services — 8.9%

      

Baker Hughes, Inc. (a)

      359,800       $   18,159,106   

Halliburton Co. (a)

      80,150         3,597,132   

Schlumberger Ltd. (a)

      248,924         19,575,383   
     

 

 

  
                41,331,621   

Oil, Gas & Consumable Fuels — 91.2%

      

Anadarko Petroleum Corp. (a)

      318,083         20,153,738   

BP PLC

      4,851,300         28,276,798   

Cabot Oil & Gas Corp. (a)

      285,200         7,358,160   

Cairn Energy PLC (b)

      1,818,476         4,429,679   

Chevron Corp. (a)

      235,500         24,237,660   

Cimarex Energy Co. (a)

      105,750         14,209,628   

ConocoPhillips (a)

      504,650         21,937,136   

Devon Energy Corp. (a)

      271,600         11,980,276   

Enbridge, Inc. (a)

      311,900         13,707,957   

Encana Corp. (a)

      1,054,950         11,024,326   

Eni SpA

      533,450         7,687,211   

EOG Resources, Inc. (a)

      244,700         23,664,937   

EQT Corp. (a)

      134,000         9,731,080   

Exxon Mobil Corp. (a)(c)

      558,000         48,702,240   

Hess Corp. (a)

      214,700         11,512,214   

Kosmos Energy Ltd. (b)

      676,807         4,338,333   

Lundin Petroleum AB (b)

      240,377         4,399,849   

Marathon Oil Corp. (a)

      725,900         11,476,479   

Noble Energy, Inc. (a)

      288,592         10,314,278   

Occidental Petroleum Corp. (a)

      281,200         20,505,104   

Oil Search Ltd.

      1,762,063         9,704,614   

Phillips 66 (a)

      96,850         7,801,268   

Pioneer Natural Resources Co. (a)

      95,700         17,766,705   
Common Stocks    Shares      Value  

Oil, Gas & Consumable Fuels (continued)

      

Royal Dutch Shell PLC, A Shares

      717,198       $ 17,842,292   

Royal Dutch Shell PLC, A Shares — ADR (a)

      689,800         34,538,286   

Tesoro Corp. (a)

      46,850         3,727,386   

TransCanada Corp.

      255,700         12,144,264   

Valero Energy Corp. (a)

      164,250         8,705,250   
     

 

 

  
                421,877,148   

Total Long-Term Investments

(Cost — $448,785,376) — 100.1%

               463,208,769   
     
Short-Term Securities                

BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.20% (d)(e)

      4,748,229         4,748,229   

Total Short-Term Securities

(Cost — $4,748,229) — 1.0%

               4,748,229   

Total Investments Before Options Written

(Cost — $453,533,605*) — 101.1%

               467,956,998   
     
Options Written                

(Premiums Received — $3,583,935) — (1.1)%

               (4,919,103 ) 

Total Investments Net of Options Written — 100.0%

         463,037,895   

Liabilities in Excess of Other Assets — 0.0%

         (195,714 ) 
     

 

 

  

Net Assets — 100.0%

       $ 462,842,181   
     

 

 

  
 

 

      Notes to Schedule of Investments

 

* As of period end, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

    $ 460,416,928   
  

 

 

  

Gross unrealized appreciation

    $ 37,200,875   

Gross unrealized depreciation

      (29,660,805 ) 
  

 

 

  

Net unrealized appreciation

    $ 7,540,070   
  

 

 

  

 

(a) All or a portion of security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written.

 

(b) Non-income producing security.

 

(c) All or a portion of security has been pledged as collateral in connection with outstanding OTC derivatives.

 

(d) Current yield as of period end.

 

      Portfolio Abbreviations               
ADR    American Depositary Receipt      EUR    Euro    SEK    Swedish Krona
AUD    Australian Dollar      GBP    British Pound    USD    U.S. Dollar
CAD    Canadian Dollar              

 

 

          SEPTEMBER 30, 2016    1

Schedule of Investments (continued)      BlackRock Energy and Resources Trust (BGR)   

 

 

(e) During the period ended September 30, 2016, investments in issuers considered to be affiliates of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate    Shares/
Beneficial Interest
Held at
December  31,
2015		      Net
Activity		     Shares
Held at
September 30,
2016		      Value at
September 30,
2016		      Income  

BlackRock Liquidity Funds, TempFund, Institutional Class

      5,394,590         (5,394,590 )      —         —       $ 28,452   

BlackRock Liquidity Funds, T-Fund, Institutional Class

      —         4,748,229        4,748,229         $4,748,229         1,016   

BlackRock Liquidity Series, LLC Money Market Series

      $    944,554       $ (944,554 )      —         —         1,031 1 

Total

              $4,748,229       $ 30,499   
          

 

 

  

 

  1   

Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

 

•  

For Trust compliance purposes, the Trust’s industry classifications refer to 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 the investment adviser. These definitions may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease.

 

      Derivative Financial Instruments Outstanding as of Period End

Exchange-Traded Options Written

 

Description    Put/
Call		        Expiration
Date		     

Strike

Price

        Contracts        Value  

Baker Hughes, Inc.

      Call         10/07/16        USD         52.00           118         $ (3,245 ) 

Chevron Corp.

      Call         10/07/16        USD         104.00           162           (7,452 ) 

ConocoPhillips

      Call         10/07/16        USD         45.00           195           (3,315 ) 

Devon Energy Corp.

      Call         10/07/16        USD         45.00           191           (10,028 ) 

EOG Resources, Inc.

      Call         10/07/16        USD         91.00           75           (44,812 ) 

Exxon Mobil Corp.

      Call         10/07/16        USD         88.50           95           (2,660 ) 

Marathon Oil Corp.

      Call         10/07/16        USD         17.00           575           (3,738 ) 

Occidental Petroleum Corp.

      Call         10/07/16        USD         77.50           165           (660 ) 

Phillips 66

      Call         10/07/16        USD         81.50           98           (4,900 ) 

Pioneer Natural Resources Co.

      Call         10/07/16        USD         190.00           82           (10,660 ) 

Royal Dutch Shell PLC, A Shares — ADR

      Call         10/07/16        USD         51.00           114           (3,135 ) 

Tesoro Corp.

      Call         10/07/16        USD         77.00           53           (16,086 ) 

Valero Energy Corp.

      Call         10/07/16        USD         56.50           96           (432 ) 

Anadarko Petroleum Corp.

      Call         10/14/16        USD         55.00           43           (36,228 ) 

Anadarko Petroleum Corp.

      Call         10/14/16        USD         61.50           173           (49,132 ) 

Baker Hughes, Inc.

      Call         10/14/16        USD         51.50           157           (10,833 ) 

Baker Hughes, Inc.

      Call         10/14/16        USD         52.00           238           (12,495 ) 

Chevron Corp.

      Call         10/14/16        USD         104.00           146           (12,264 ) 

ConocoPhillips

      Call         10/14/16        USD         44.50           252           (11,718 ) 

Devon Energy Corp.

      Call         10/14/16        USD         41.00           113           (38,985 ) 

Devon Energy Corp.

      Call         10/14/16        USD         43.00           114           (22,344 ) 

Encana Corp.

      Call         10/14/16        CAD         12.50           175           (17,941 ) 

EOG Resources, Inc.

      Call         10/14/16        USD         92.50           85           (41,438 ) 

Exxon Mobil Corp.

      Call         10/14/16        USD         90.00           47           (916 ) 

Hess Corp.

      Call         10/14/16        USD         55.50           110           (8,525 ) 

Marathon Oil Corp.

      Call         10/14/16        USD         17.00           630           (12,285 ) 

Occidental Petroleum Corp.

      Call         10/14/16        USD         78.00           221           (2,210 ) 

Phillips 66

      Call         10/14/16        USD         81.50           64           (5,920 ) 

Pioneer Natural Resources Co.

      Call         10/14/16        USD         182.50           121           (73,810 ) 

Royal Dutch Shell PLC, A Shares — ADR

      Call         10/14/16        USD         51.00           114           (5,985 ) 

Schlumberger Ltd.

      Call         10/14/16        USD         81.00           168           (5,292 ) 

Valero Energy Corp.

      Call         10/14/16        USD         57.00           95           (1,140 ) 

Anadarko Petroleum Corp.

      Call         10/21/16        USD         60.00           350           (149,625 ) 

Baker Hughes, Inc.

      Call         10/21/16        USD         50.50           435           (61,118 ) 

Cabot Oil & Gas Corp.

      Call         10/21/16        USD         27.00           300           (10,500 ) 

Chevron Corp.

      Call         10/21/16        USD         105.00           147           (11,392 ) 

Cimarex Energy Co.

      Call         10/21/16        USD         140.00           200           (31,500 ) 

ConocoPhillips

      Call         10/21/16        USD         44.00           102           (8,160 ) 

ConocoPhillips

      Call         10/21/16        USD         46.00           292           (5,986 ) 

Devon Energy Corp.

      Call         10/21/16        USD         44.00           94           (15,839 ) 

Encana Corp.

      Call         10/21/16        CAD         13.00           355           (28,818 ) 

EOG Resources, Inc.

      Call         10/21/16        USD         90.00           159           (118,058 ) 

 

 

2         SEPTEMBER 30, 2016     

Schedule of Investments (continued)      BlackRock Energy and Resources Trust (BGR)   

 

Description    Put/
Call		        Expiration
Date		       

Strike

Price

        Contracts        Value  

EQT Corp.

      Call           10/21/16           USD         75.00           235         $ (22,325 ) 

Exxon Mobil Corp.

      Call           10/21/16           USD         84.50           491           (164,485 ) 

Hess Corp.

      Call           10/21/16           USD         62.50           195           (9,750 ) 

Noble Energy, Inc.

      Call           10/21/16           USD         37.50           388           (16,490 ) 

Royal Dutch Shell PLC, A Shares — ADR

      Call           10/21/16           USD         52.50           800           (21,995 ) 

Schlumberger Ltd.

      Call           10/21/16           USD         82.50           96           (3,504 ) 

Tesoro Corp.

      Call           10/21/16           USD         85.00           60           (3,510 ) 

Valero Energy Corp.

      Call           10/21/16           USD         57.00           96           (2,112 ) 

Valero Energy Corp.

      Call           10/21/16           USD         57.50           191           (3,247 ) 

Anadarko Petroleum Corp.

      Call           10/28/16           USD         65.00           272           (47,192 ) 

Baker Hughes, Inc.

      Call           10/28/16           USD         50.00           157           (32,813 ) 

ConocoPhillips

      Call           10/28/16           USD         42.00           250           (56,250 ) 

Devon Energy Corp.

      Call           10/28/16           USD         44.50           150           (25,500 ) 

EOG Resources, Inc.

      Call           10/28/16           USD         93.50           280           (137,200 ) 

EOG Resources, Inc.

      Call           10/28/16           USD         94.50           56           (23,660 ) 

Hess Corp.

      Call           10/28/16           USD         51.00           111           (48,840 ) 

Hess Corp.

      Call           10/28/16           USD         54.00           19           (4,132 ) 

Marathon Oil Corp.

      Call           10/28/16           USD         16.50           195           (11,018 ) 

Occidental Petroleum Corp.

      Call           10/28/16           USD         73.00           256           (49,280 ) 

Pioneer Natural Resources Co.

      Call           10/28/16           USD         182.50           126           (100,800 ) 

Royal Dutch Shell PLC, A Shares — ADR

      Call           10/28/16           USD         49.50           450           (72,000 ) 

Schlumberger Ltd.

      Call           10/28/16           USD         81.50           202           (15,756 ) 

Tesoro Corp.

      Call           10/28/16           USD         87.00           50           (2,950 ) 

Baker Hughes, Inc.

      Call           11/04/16           USD         52.50           155           (19,608 ) 

Chevron Corp.

      Call           11/04/16           USD         103.00           276           (65,274 ) 

ConocoPhillips

      Call           11/04/16           USD         43.00           275           (49,088 ) 

Devon Energy Corp.

      Call           11/04/16           USD         45.00           95           (17,385 ) 

Devon Energy Corp.

      Call           11/04/16           USD         46.50           97           (12,028 ) 

EOG Resources, Inc.

      Call           11/04/16           USD         100.00           117           (24,746 ) 

Exxon Mobil Corp.

      Call           11/04/16           USD         87.00           453           (93,771 ) 

Halliburton Co.

      Call           11/04/16           USD         44.50           280           (51,800 ) 

Hess Corp.

      Call           11/04/16           USD         51.00           97           (45,590 ) 

Hess Corp.

      Call           11/04/16           USD         51.50           86           (37,625 ) 

Hess Corp.

      Call           11/04/16           USD         54.50           18           (4,248 ) 

Marathon Oil Corp.

      Call           11/04/16           USD         15.00           472           (70,564 ) 

Marathon Oil Corp.

      Call           11/04/16           USD         16.50           195           (13,942 ) 

Occidental Petroleum Corp.

      Call           11/04/16           USD         73.50           192           (35,808 ) 

Phillips 66

      Call           11/04/16           USD         81.00           175           (37,188 ) 

Royal Dutch Shell PLC, A Shares — ADR

      Call           11/04/16           USD         48.00           900           (294,750 ) 

Schlumberger Ltd.

      Call           11/04/16           USD         76.50           146           (51,465 ) 

Valero Energy Corp.

      Call           11/04/16           USD         57.50           48           (2,136 ) 

ConocoPhillips

      Call           11/11/16           USD         45.00           127           (13,081 ) 

Devon Energy Corp.

      Call           11/11/16           USD         46.50           98           (14,259 ) 

Exxon Mobil Corp.

      Call           11/11/16           USD         87.00           453           (96,942 ) 

Hess Corp.

      Call           11/11/16           USD         57.00           18           (2,961 ) 

Anadarko Petroleum Corp.

      Call           11/18/16           USD         65.00           275           (72,738 ) 

Cabot Oil & Gas Corp.

      Call           11/18/16           USD         26.00           390           (48,750 ) 

Chevron Corp.

      Call           11/18/16           USD         105.00           240           (40,320 ) 

Cimarex Energy Co.

      Call           11/18/16           USD         135.00           26           (16,900 ) 

ConocoPhillips

      Call           11/18/16           USD         43.00           275           (58,025 ) 

Enbridge, Inc.

      Call           11/18/16           CAD         58.00           328           (31,876 ) 

EOG Resources, Inc.

      Call           11/18/16           USD         95.00           85           (44,200 ) 

Exxon Mobil Corp.

      Call           11/18/16           USD         87.50           414           (81,144 ) 

Hess Corp.

      Call           11/18/16           USD         52.50           98           (38,220 ) 

Marathon Oil Corp.

      Call           11/18/16           USD         15.00           472           (77,880 ) 

Noble Energy, Inc.

      Call           11/18/16           USD         37.50           465           (46,500 ) 

Schlumberger Ltd.

      Call           11/18/16           USD         80.00           259           (49,340 ) 

Valero Energy Corp.

      Call           11/18/16           USD         57.50           48           (3,192 ) 

Total

                           $ (3,459,733 ) 
                         

 

 

  

OTC Options Written

 

Description    Put/
Call		        Counterparty      Expiration
Date		     

Strike

Price

        Contracts        Value  

Enbridge, Inc.

      Call         Citibank N.A.      10/03/16        CAD         55.38           38,000         $ (67,597 ) 

 

 

          SEPTEMBER 30, 2016    3

Schedule of Investments (continued)      BlackRock Energy and Resources Trust (BGR)   

 

Description    Put/
Call		      Counterparty      Expiration
Date		       

Strike

Price

        Contracts        Value  

Encana Corp.

      Call       Citibank N.A.        10/03/16           CAD         11.75           56,000         $ (83,721 ) 

BP PLC

      Call       Credit Suisse International        10/04/16           GBP         4.20           260,000           (99,788 ) 

Eni SpA

      Call       Credit Suisse International        10/05/16           EUR         13.82           13,000           (10 ) 

Cairn Energy PLC

      Call       Deutsche Bank AG        10/06/16           GBP         1.83           110,000           (10,515 ) 

EQT Corp.

      Call       UBS AG        10/06/16           USD         70.60           23,500           (56,814 ) 

Oil Search Ltd.

      Call       UBS AG        10/06/16           AUD         7.48           180,000           (3,638 ) 

Royal Dutch Shell PLC, A Shares

      Call       UBS AG        10/06/16           GBP         19.51           111,000           (15,281 ) 

Occidental Petroleum Corp.

      Call       Citibank N.A.        10/10/16           USD         78.49           15,000           (245 ) 

BP PLC

      Call       Citibank N.A.        10/11/16           GBP         4.29           200,000           (58,231 ) 

Cabot Oil & Gas Corp.

      Call       Bank of America N.A.        10/11/16           USD         24.70           27,000           (36,519 ) 

Eni SpA

      Call       Credit Suisse International        10/11/16           EUR         13.90           87,000           (3,272 ) 

TransCanada Corp.

      Call       Deutsche Bank AG        10/11/16           CAD         61.58           45,000           (40,899 ) 

Cairn Energy PLC

      Call       Deutsche Bank AG        10/13/16           GBP         1.92           75,000           (3,941 ) 

Lundin Petroleum AB

      Call       Credit Suisse International        10/13/16           SEK         155.22           40,000           (16,892 ) 

Enbridge, Inc.

      Call       Citibank N.A.        10/17/16           CAD         55.38           38,000           (85,247 ) 

Cairn Energy PLC

      Call       Credit Suisse International        10/20/16           GBP         1.83           110,000           (14,393 ) 

Cimarex Energy Co.

      Call       Credit Suisse International        10/25/16           USD         133.01           5,800           (29,758 ) 

Encana Corp.

      Call       Deutsche Bank AG        10/26/16           CAD         14.18           75,000           (28,262 ) 

BP PLC

      Call       Goldman Sachs International        10/27/16           GBP         4.43           200,000           (36,866 ) 

Cimarex Energy Co.

      Call       Morgan Stanley & Co. International PLC        10/28/16           USD         132.66           8,600           (47,997 ) 

Encana Corp.

      Call       Morgan Stanley & Co. International PLC        11/01/16           CAD         12.80           71,500           (77,868 ) 

TransCanada Corp.

      Call       Morgan Stanley & Co. International PLC        11/02/16           CAD         63.30           44,000           (25,558 ) 

Cairn Energy PLC

      Call       Morgan Stanley & Co. International PLC        11/03/16           GBP         1.94           126,500           (10,244 ) 

Oil Search Ltd.

      Call       Morgan Stanley & Co. International PLC        11/03/16           AUD         6.55           184,000           (100,611 ) 

Encana Corp.

      Call       Credit Suisse International        11/04/16           CAD         12.80           21,000           (23,473 ) 

Encana Corp.

      Call       Morgan Stanley & Co. International PLC        11/04/16           CAD         13.01           35,500           (33,326 ) 

Noble Energy, Inc.

      Call       Barclays Bank PLC        11/08/16           USD         36.19           16,000           (22,318 ) 

Royal Dutch Shell PLC, A Shares

      Call       Bank of America N.A.        11/08/16           GBP         19.48           140,000           (80,002 ) 

BP PLC

      Call       Goldman Sachs International        11/10/16           GBP         4.43           202,000           (34,591 ) 

BP PLC

      Call       Morgan Stanley & Co. International PLC        11/10/16           GBP         4.29           200,000           (53,874 ) 

Eni SpA

      Call       Bank of America N.A.        11/10/16           EUR         12.94           87,000           (35,700 ) 

Lundin Petroleum AB

      Call       Credit Suisse International        11/10/16           SEK         155.10           44,000           (30,553 ) 

BP PLC

      Call       UBS AG        11/15/16           GBP         4.55           272,000           (29,854 ) 

Cairn Energy PLC

      Call       Morgan Stanley & Co. International PLC        11/15/16           GBP         1.92           74,000           (8,246 ) 

Oil Search Ltd.

      Call       Goldman Sachs International        11/15/16           AUD         7.14           250,000           (45,806 ) 

Encana Corp.

      Call       Citibank N.A.        11/17/16           CAD         13.92           36,000           (27,245 ) 

Encana Corp.

      Call       Credit Suisse International        11/17/16           CAD         12.80           21,000           (25,944 ) 

BP PLC

      Call       Goldman Sachs International        11/29/16           GBP         4.48           202,000           (35,516 ) 

Cairn Energy PLC

      Call       Morgan Stanley & Co. International PLC        11/29/16           GBP         1.92           74,000           (9,614 ) 

Cairn Energy PLC

      Call       Credit Suisse International        12/07/16           GBP         1.93           67,000           (9,141 ) 

Total

                              $ (1,459,370 ) 
                            

 

 

  

 

      Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation methodologies are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access

 

  •  

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)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments are typically categorized as Level 3.

 

 

4         SEPTEMBER 30, 2016     

Schedule of Investments (concluded)      BlackRock Energy and Resources Trust (BGR)   

 

Changes in valuation methodologies may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments 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 derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its semi-annual report.

As of period end, the following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

      Level 1     Level 2     Level 3      Total  

Assets:

          

Investments:

          

Long-Term Investments:

          

Common Stocks:

          

Energy Equipment & Services

    $ 41,331,621        —        —         $ 41,331,621   

Oil, Gas & Consumable Fuels

      349,536,705      $ 72,340,443        —           421,877,148   

Short-Term Securities

      4,748,229        —        —           4,748,229   
  

 

 

  

Total

    $   395,616,555      $   72,340,443        —         $   467,956,998   
  

 

 

  
         

Derivative Financial Instruments1

                                  

Liabilities:

          

Equity contracts

    $ (3,459,733 )    $ (1,459,370 )      —         $ (4,919,103 ) 
  

 

 

  

 

1    Derivative financial instruments are options written, which are shown at value.

          
The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:    
         
      Level 1     Level 2     Level 3      Total  

Assets:

          

Foreign currency at value

    $ 9,947        —        —         $ 9,947   

Liabilities:

          

Bank overdraft

      —      $ (187,532 )      —           (187,532 ) 
  

 

 

  

Total

    $ 9,947      $ (187,532 )      —         $ (177,585 ) 
  

 

 

  

During the period ended September 30, 2016, there were no transfers between levels.

 

 

          SEPTEMBER 30, 2016    5

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 Energy and Resources Trust
By:     

   /s/ John M. Perlowski

   
   John M. Perlowski   
   Chief Executive Officer (principal executive officer) of
   BlackRock Energy and Resources Trust
Date: November 22, 2016
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 Energy and Resources Trust
Date: November 22, 2016   
By:   

   /s/ Neal J. Andrews

   
   Neal J. Andrews   
   Chief Financial Officer (principal financial officer) of
   BlackRock Energy and Resources Trust
Date: November 22, 2016