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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY |
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Investment Company Act file number 811-07250 Name of Fund: BlackRock Broad Investment Grade 2009 Term Trust, Inc. (BCT) Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Broad Investment Grade 2009 Term Trust, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrant’s telephone number, including area code: (800) 882-0052, Option 4 Date of fiscal year end: 10/31/2009 Date of reporting period: 11/01/2008 – 01/31/2009 Item 1 – Schedule of Investments |
| BlackRock Broad Investment Grade 2009 Term Trust Inc. | ||||||||
| Schedule of Investments January 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||||||
| Par | ||||||||
| Asset-Backed Securities | (000) | Value | ||||||
| Global Rated Eligible Asset Trust Series 1998-A Class 1, 7.45%, | ||||||||
| 9/15/07 (a)(b)(c)(d) | $ 234 | $ 23 | ||||||
| Structured Mortgage Asset Residential Trust Series 2, 8.24%, | ||||||||
| 11/07/07 (a)(b)(c) | 568 | 57 | ||||||
| Total Asset-Backed Securities - 0.0% | 80 | |||||||
| Industry | Corporate Bonds | |||||||
| Media - 5.7% | Comcast Corp., 1.46%, 7/14/09 (e)(f) | 2,000 | 1,973,390 | |||||
| Total Corporate Bonds - 5.7% | 1,973,390 | |||||||
| US Government Agency Mortgage-Backed Securities | ||||||||
| Fannie Mae Guaranteed Pass-Through Certificates: | ||||||||
| 5.50%, 1/01/17 - 2/01/17 | 237 | 245,832 | ||||||
| 6.50%, 7/01/29 | 12 | 12,419 | ||||||
| Total US Government Agency Mortgage-Backed Securities - 0.7% | 258,251 | |||||||
| US Government Agency Mortgage-Backed Securities - | ||||||||
| Collateralized Mortgage Obligations | ||||||||
| Fannie Mae Trust Series 1992-174 Class S, 0.098%, 9/25/22 (e)(g) | 2,191 | 8,202 | ||||||
| Fannie Mae Trust Series 1993-49 Class L, 0.445%, 4/25/13 (g) | 1,414 | 8,760 | ||||||
| Fannie Mae Trust Series 2004-13 Class IG, 5%, 10/25/22 (g) | 276 | 1,541 | ||||||
| Fannie Mae Trust Series G-21 Class L, 0.95%, 7/25/21 (g) | 204 | 3,955 | ||||||
| Freddie Mac Multiclass Certificates Series 65 Class I, 0.50%, 8/15/20 (g) | 630 | 13,434 | ||||||
| Freddie Mac Multiclass Certificates Series 141 Class H, 1.06%, 5/15/21 (g) | 118 | 1,647 | ||||||
| Freddie Mac Multiclass Certificates Series 1510 Class G, 7.05%, 5/15/13 | 1,097 | 1,158,713 | ||||||
| Freddie Mac Multiclass Certificates Series 2412 Class SE, 15.987%, | ||||||||
| 2/15/09 (e) | 25 | 25,157 | ||||||
| Freddie Mac Multiclass Certificates Series 2517 Class SE, 15.113%, | ||||||||
| 10/15/09 (g) | 176 | 182,322 | ||||||
| Freddie Mac Multiclass Certificates Series 2523 Class EH, 5.50%, 4/15/20 (g) | 624 | 9,706 | ||||||
| Freddie Mac Multiclass Certificates Series 2564 Class NC, 5%, 2/15/33 | 81 | 80,614 | ||||||
| Freddie Mac Multiclass Certificates Series 2739 Class PI, 5%, 3/15/22 (g) | 674 | 2,104 | ||||||
| Total US Government Agency Mortgage-Backed Securities - Collateralized | ||||||||
| Mortgage Obligations - 4.4% | 1,496,155 | |||||||
| Taxable Municipal Bonds | ||||||||
| Fresno, California, Taxable Pension Obligation Revenue Bonds, 7.80%, | ||||||||
| 6/01/14 (f)(h) | 440 | 479,345 | ||||||
| Kern County, California, Taxable Pension Obligation Revenue Bonds, 6.98%, | ||||||||
| 8/15/09 (f) | 500 | 505,105 | ||||||
| Total Taxable Municipal Bonds - 2.9% | 984,450 | |||||||
| Non-US Government Agency Mortgage-Backed Securities | ||||||||
| JPMorgan Mortgage Trust Series 2006-A7 Class 2A2, 5.801%, 1/25/37 (e) | 1,269 | 1,267,504 | ||||||
| Nomura Asset Acceptance Corp. Series 2004-AR4 Class 2A3, 0.809%, | ||||||||
| 12/25/34 (e) | 66 | 33,409 | ||||||
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| BlackRock Broad Investment Grade 2009 Term Trust Inc. | ||||||
| Schedule of Investments January 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||||
| Par | ||||||
| Non-US Government Agency Mortgage-Backed Securities | (000) | Value | ||||
| Salomon Brothers Mortgage Securities VI, Inc. Series 1987-3 Class A, | ||||||
| 12.50%, 10/25/17 (i) | $ 7 | $ 5,783 | ||||
| Structured Adjustable Rate Mortgage Loan Trust Series 2004-11 Class A, | ||||||
| 5.593%, 8/25/34 (e) | 389 | 386,748 | ||||
| Vendee Mortgage Trust Series 2002-1 Class 1IO, 0.043%, 10/15/31 (e)(g) | 10,227 | 16,357 | ||||
| WaMu Mortgage Pass-Through Certificates Series 2005-AR4 Class A3, 4.585%, | ||||||
| 4/25/35 (e) | 975 | 948,793 | ||||
| Wells Fargo Mortgage Backed Securities Trust Series 2004-N Class A6, 4%, | ||||||
| 8/25/34 (e) | 500 | 481,226 | ||||
| Total Non-US Government Agency Mortgage-Backed Securities - 9.1% | 3,139,820 | |||||
| US Government Agency Obligations | ||||||
| Fannie Mae, 5.961%, 10/09/19 (j) | 50,000 | 25,498,000 | ||||
| Total US Government Agency Obligations - 74.1% | 25,498,000 | |||||
| Total Investments | ||||||
| (Cost - $34,598,900*) - 96.9% | 33,350,146 | |||||
| Other Assets Less Liabilities - 3.1% | 1,058,093 | |||||
| Net Assets - 100.0% | $ 34,408,239 | |||||
* The cost and unrealized appreciation (depreciation) of investments as of January 31, 2009 as
| computed for federal income tax purposes, were as follows: | ||
| Aggregate cost | $ 34,598,900 | |
| Gross unrealized appreciation | $ 205,238 | |
| Gross unrealized depreciation | (1,453,992) | |
| Net unrealized depreciation | $ (1,248,754) |
| (a) Security is valued in accordance with the Trust's fair valuation policy. (b) Issuer filed for bankruptcy and/or is in default of interest payments. (c) Non-income producing security. (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors. (e) Variable rate security. Rate shown is as of report date. (f) All or a portion of security has been pledged as collateral in connection with open financial futures contracts. (g) Represents the interest-only portion of a mortgage-backed security and has either a nominal or notional amount of principal. (h) Security is collateralized by Municipal or US Treasury Obligations. (i) Represents the principal only portion of a mortgage-backed security. (j) Represents a zero-coupon bond. Rate shown reflects the yield at time of purchase. |
| • Financial futures contracts sold as of January 31, 2009 were as follows: | ||||||||
| Expiration | Face | Unrealized | ||||||
| Contracts | Issue | Date | Value | Depreciation | ||||
| 289 | 10-Year US Treasury Bond | March 2009 | $ 33,316,545 | $ (2,135,627) | ||||
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| BlackRock Broad Investment Grade 2009 Term Trust Inc. | ||||||
| Schedule of Investments January 31, 2009 (Unaudited) | ||||||
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| • Interest rate swaps outstanding as of January 31, 2009 were as follows: | ||||||
| Notional | ||||||
| Amount | Unrealized | |||||
| (000) | Appreciation | |||||
| Receive a fixed rate of 2.7425% and pay a floating rate based on | ||||||
| 3-month LIBOR | ||||||
| Broker, Deutsche Bank AG | ||||||
| Expires October 2010 | $ 2,100 | $ 42,921 | ||||
| Receive a fixed rate of 2.745% and pay a floating rate based on | ||||||
| 3-month LIBOR | ||||||
| Broker, Credit Suisse International | ||||||
| Expires October 2010 | $ 2,100 | 43,010 | ||||
| Total | $ 85,931 | |||||
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| BlackRock Broad Investment Grade 2009 Term Trust Inc. Schedule of Investments January 31, 2009 (Unaudited) |
| Effective November 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows: | ||
| Level 1 - price quotations in active markets/exchanges for identical securities | ||
| Level 2 - other observable inputs (including, but not limited to: quoted prices for 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 circumstance, to the extent observable inputs are not available (including the Fund's own assumption used in determining the fair value of investments) | ||
| The inputs or methodology used for valuing securities are not necessarily an indication of the risk 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 inputs used as of January 31, 2009 in determining the fair valuation of the
Trust's investments:
| Valuation | Investments in | |||||
| Inputs | Securities | Other Financial Instruments* | ||||
| Assets | Assets | Liabilities | ||||
| Level 1 | - | - | $ (2,135,627) | |||
| Level 2 | $ 33,350,066 | $ 85,931 | - | |||
| Level 3 | 80 | - | - | |||
| Total | $ 33,350,146 | $ 85,931 | $ (2,135,627) | |||
* Other financial instruments are futures and swap contracts. Futures and swap
contracts are valued at the unrealized appreciation/depreciation on the instrument.
The following is a reconciliation of investments for unobservable inputs (Level 3) were used in determining fair
value:
| Investments in | ||
| Securities | ||
| Balance, as of November 1, 2008 | $ 80 | |
| Accrued discounts/premiums | - | |
| Realized gain (loss) | - | |
| Change in unrealized appreciation (depreciation) | - | |
| Net purchases (sales) | - | |
| Net transfers in/out of Level 3 | - | |
| Balance, as of January 31, 2009 | $ 80 |
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| 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 13(a)-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 Broad Investment Grade 2009 Term Trust, Inc. By: /s/ Donald C. Burke Donald C. Burke Chief Executive Officer of BlackRock Broad Investment Grade 2009 Term Trust, Inc. Date: March 25, 2009 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/ Donald C. Burke Donald C. Burke Chief Executive Officer (principal executive officer) of BlackRock Broad Investment Grade 2009 Term Trust, Inc. Date: March 25, 2009 By: /s/ Neal J. Andrews Neal J. Andrews Chief Financial Officer (principal financial officer) of BlackRock Broad Investment Grade 2009 Term Trust, Inc. Date: March 25, 2009 |