BLACKROCK MUNICIPAL INCOME QUALITY 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: 811-21178
Name of Fund: BlackRock Municipal Income Quality Trust (BYM)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Municipal Income
Quality Trust, 55 East 52nd Street, New York, NY 10055
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 08/31/2017
Date of reporting period:
05/31/2017
Item 1 Schedule of Investments
|
|
|
Schedule of Investments May 31, 2017 (Unaudited) |
|
BlackRock Municipal Income Quality Trust (BYM)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
Alabama 4.4% |
|
|
|
|
|
|
|
|
City of Birmingham Alabama, GO, Convertible CAB, Series A1, 0.00%, 3/01/45 (a) |
|
$ |
1,165 |
|
|
$ |
1,211,460 |
|
City of Birmingham Alabama Airport Authority, ARB (AGM), 5.50%, 7/01/40 |
|
|
5,800 |
|
|
|
6,409,522 |
|
City of Birmingham Alabama Special Care Facilities Financing Authority, RB, Childrens Hospital (AGC), 6.00%, 6/01/19
(b) |
|
|
1,495 |
|
|
|
1,642,646 |
|
County of Jefferson Alabama, RB, Limited Obligation School, Series A, 4.75%, 1/01/25 |
|
|
2,800 |
|
|
|
2,808,932 |
|
State of Alabama Docks Department, Refunding RB, 6.00%, 10/01/20 (b) |
|
|
3,800 |
|
|
|
4,402,984 |
|
Tuscaloosa County Board of Education, RB, Special Tax School Warrants, 5.00%, 2/01/43 (c) |
|
|
1,005 |
|
|
|
1,160,142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,635,686 |
|
Alaska 0.3% |
|
|
|
|
|
|
|
|
Alaska Industrial Development & Export Authority, RB, Providence Health Services,
Series A, 5.50%, 10/01/41 |
|
|
1,070 |
|
|
|
1,195,886 |
|
Arizona 0.7% |
|
|
|
|
|
|
|
|
County of Maricopa Arizona IDA, Refunding RB, Banner Health Obligation Group, Series A: |
|
|
|
|
|
|
|
|
3.25%, 1/01/37 |
|
|
670 |
|
|
|
658,530 |
|
5.00%, 1/01/38 |
|
|
440 |
|
|
|
508,446 |
|
State of Arizona, COP, Department of Administration, Series A (AGM): |
|
|
|
|
|
|
|
|
5.00%, 10/01/27 |
|
|
1,250 |
|
|
|
1,355,025 |
|
5.25%, 10/01/28 |
|
|
250 |
|
|
|
272,498 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,794,499 |
|
California 13.5% |
|
|
|
|
|
|
|
|
California Health Facilities Financing Authority, RB, St. Joseph Health System, Series A, 5.75%, 7/01/39 |
|
|
625 |
|
|
|
677,925 |
|
California Health Facilities Financing Authority, Refunding RB, Kaiser Permanente, Sub-Series A-2, 5.00%,
11/01/47 |
|
|
1,465 |
|
|
|
1,880,782 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
California (continued) |
|
|
|
|
|
|
|
|
California Infrastructure & Economic Development Bank, RB, Bay Area Toll Bridges, 1st Lien, Series A (AMBAC), 5.00%,
1/01/28 (b) |
|
$ |
10,100 |
|
|
$ |
13,021,627 |
|
California Statewide Communities Development Authority, RB, Kaiser Permanente, Series A, 5.00%, 4/01/42 |
|
|
1,620 |
|
|
|
1,804,810 |
|
Coast Community College District, GO, CAB, Election of 2002, Series C (AGM), 5.00%, 8/01/18 (b) |
|
|
7,450 |
|
|
|
7,818,030 |
|
Monterey Peninsula Community College District, GO, CAB, Series C (AGM) (b)(d): |
|
|
|
|
|
|
|
|
0.00%, 2/01/18 |
|
|
13,575 |
|
|
|
6,792,387 |
|
0.00%, 2/01/18 |
|
|
14,150 |
|
|
|
6,719,410 |
|
Mount San Antonio Community College District, GO, Refunding, CAB, Election of 2008, Series A, 0.00%, 8/01/43 (a) |
|
|
1,580 |
|
|
|
1,226,254 |
|
San Diego California Unified School District, GO, Election of 2008 (d): |
|
|
|
|
|
|
|
|
CAB, Series C, 0.00%, 7/01/38 |
|
|
2,000 |
|
|
|
913,780 |
|
CAB, Series G, 0.00%, 7/01/34 |
|
|
725 |
|
|
|
334,885 |
|
CAB, Series G, 0.00%, 7/01/35 |
|
|
775 |
|
|
|
336,265 |
|
CAB, Series G, 0.00%, 7/01/36 |
|
|
1,155 |
|
|
|
471,067 |
|
CAB, Series G, 0.00%, 7/01/37 |
|
|
770 |
|
|
|
295,487 |
|
San Diego California Unified School District, GO, Refunding, CAB, Series R-1, 0.00%, 7/01/31 (d) |
|
|
1,400 |
|
|
|
884,170 |
|
State of California, GO, Refunding, Various Purposes, 5.00%, 10/01/41 |
|
|
1,100 |
|
|
|
1,231,439 |
|
State of California, GO, Various Purposes, 5.00%, 4/01/42 |
|
|
3,000 |
|
|
|
3,390,420 |
|
State of California Public Works Board, LRB, Various Capital Projects, Series I, 5.50%, 11/01/33 |
|
|
1,415 |
|
|
|
1,705,202 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
1 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust
(BYM) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
California (continued) |
|
|
|
|
|
|
|
|
Yosemite Community College District, GO, CAB, Election of 2004, Series D, 0.00%, 8/01/37 (d) |
|
$ |
10,000 |
|
|
$ |
4,616,300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
54,120,240 |
|
Colorado 0.6% |
|
|
|
|
|
|
|
|
Regional Transportation District, COP, Refunding, Series A, 5.38%, 6/01/31 |
|
|
960 |
|
|
|
1,058,141 |
|
Regional Transportation District, COP, Series A, 5.00%, 6/01/39 |
|
|
1,305 |
|
|
|
1,463,322 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,521,463 |
|
District of Columbia 2.4% |
|
|
|
|
|
|
|
|
District of Columbia Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, 6.75%,
5/15/40 |
|
|
9,500 |
|
|
|
9,652,665 |
|
Florida 14.0% |
|
|
|
|
|
|
|
|
City of Tallahassee Florida Energy System Revenue, RB (NPFGC): |
|
|
|
|
|
|
|
|
5.00%, 10/01/32 |
|
|
3,000 |
|
|
|
3,038,430 |
|
5.00%, 10/01/37 |
|
|
5,000 |
|
|
|
5,064,050 |
|
County of Brevard Florida Health Facilities Authority, Refunding RB, Health First, Inc. Project, 5.00%, 4/01/39 |
|
|
1,795 |
|
|
|
1,979,077 |
|
County of Broward Florida School Board, COP, Series A (AGM), 5.25%, 7/01/18 (b) |
|
|
1,400 |
|
|
|
1,465,968 |
|
County of Broward Florida Water & Sewer Utility, Refunding RB, Series A, 5.25%, 10/01/18 (b) |
|
|
6,750 |
|
|
|
7,140,487 |
|
County of Duval Florida School Board, COP, Master Lease Program (AGM), 5.00%, 7/01/17 (b) |
|
|
3,475 |
|
|
|
3,487,197 |
|
County of Miami-Dade Florida, RB, Seaport Department, Series A, 6.00%, 10/01/38 |
|
|
2,770 |
|
|
|
3,348,930 |
|
County of Miami-Dade Florida Aviation, Refunding ARB: |
|
|
|
|
|
|
|
|
Aviation, Miami International Airport, Series A-1, 5.50%, 10/01/41 |
|
|
5,000 |
|
|
|
5,552,900 |
|
Series A, 5.50%, 10/01/36 |
|
|
5,000 |
|
|
|
5,464,950 |
|
County of Miami-Dade Florida Educational Facilities Authority, RB, University Miami, Series A, 5.00%, 4/01/40 |
|
|
3,910 |
|
|
|
4,408,525 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
Florida (continued) |
|
|
|
|
|
|
|
|
County of Miami-Dade Florida Health Facilities Authority, Refunding RB, Nicklaus Childrens Hospital Project, 5.00%,
8/01/42 |
|
$ |
685 |
|
|
$ |
779,146 |
|
County of Miami-Dade Florida Transit System, RB, Surtax (AGM), 5.00%, 7/01/18 (b) |
|
|
1,300 |
|
|
|
1,357,759 |
|
County of Orange Florida Health Facilities Authority, Refunding RB, Presbyterian Retirement Communities Project: |
|
|
|
|
|
|
|
|
5.00%, 8/01/41 |
|
|
630 |
|
|
|
686,165 |
|
5.00%, 8/01/47 |
|
|
1,845 |
|
|
|
2,002,010 |
|
County of Sarasota Florida Public Hospital District, RB, Sarasota Memorial Hospital Project, Series A, 5.63%,
7/01/39 |
|
|
300 |
|
|
|
320,679 |
|
Florida State Department of Environmental Protection, RB, Florida Forever Project, Series B (NPFGC), 5.00%,
7/01/27 |
|
|
6,150 |
|
|
|
6,232,656 |
|
Reedy Creek Improvement District, GO, Series A, 5.25%, 6/01/33 |
|
|
1,340 |
|
|
|
1,571,847 |
|
Tohopekaliga Water Authority, Refunding RB, Series A, 5.25%, 10/01/21 (b) |
|
|
2,000 |
|
|
|
2,339,140 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
56,239,916 |
|
Georgia 2.5% |
|
|
|
|
|
|
|
|
City of Atlanta Georgia Department of Aviation, Refunding GARB, Series C, 6.00%, 1/01/30 |
|
|
7,500 |
|
|
|
8,738,775 |
|
County of Gainesville Georgia & Hall Hospital Authority, Refunding RB, Northeast Georgia Health System, Inc. Project,
Series A, 5.50%, 8/15/54 |
|
|
545 |
|
|
|
644,637 |
|
Private Colleges & Universities Authority, RB, Savannah College of Art & Design: |
|
|
|
|
|
|
|
|
5.00%, 4/01/33 |
|
|
155 |
|
|
|
171,596 |
|
5.00%, 4/01/44 |
|
|
595 |
|
|
|
647,669 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,202,677 |
|
Hawaii 1.4% |
|
|
|
|
|
|
|
|
State of Hawaii Harbor System, RB, Series A, 5.50%, 7/01/35 |
|
|
5,000 |
|
|
|
5,517,550 |
|
Illinois 11.7% |
|
|
|
|
|
|
|
|
City of Chicago Illinois OHare International Airport, RB, Senior Lien, Series D, 5.25%, 1/01/42 |
|
|
3,300 |
|
|
|
3,896,277 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
|
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust (BYM) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
Illinois (continued) |
|
|
|
|
|
|
|
|
City of Chicago Illinois OHare International Airport, Refunding GARB, Senior Lien, Series D, 5.25%, 1/01/34 |
|
$ |
9,800 |
|
|
$ |
10,995,110 |
|
City of Chicago Illinois OHare International Airport, GARB, 3rd Lien, Series A, 5.63%, 1/01/35 |
|
|
1,525 |
|
|
|
1,715,777 |
|
City of Chicago Illinois Transit Authority, RB: |
|
|
|
|
|
|
|
|
5.25%, 12/01/49 |
|
|
3,500 |
|
|
|
3,896,305 |
|
Sales Tax Receipts, 5.25%, 12/01/36 |
|
|
650 |
|
|
|
704,015 |
|
County of Cook Illinois Community College District No. 508, GO, City College of Chicago: |
|
|
|
|
|
|
|
|
5.13%, 12/01/38 |
|
|
7,700 |
|
|
|
8,121,652 |
|
5.50%, 12/01/38 |
|
|
1,000 |
|
|
|
1,079,180 |
|
County of Cook Illinois Forest Preserve District, GO, Refunding, Limited Tax Project, Series B, 5.00%, 12/15/37 |
|
|
210 |
|
|
|
226,445 |
|
Illinois Finance Authority, Refunding RB: |
|
|
|
|
|
|
|
|
Silver Cross Hospital and Medical Centers, 4.13%, 8/15/37 |
|
|
3,130 |
|
|
|
3,169,000 |
|
Silver Cross Hospital and Medical Centers, 5.00%, 8/15/44 |
|
|
390 |
|
|
|
419,004 |
|
University of Chicago Medical Center, Series B, 4.00%, 8/15/41 |
|
|
900 |
|
|
|
922,545 |
|
Railsplitter Tobacco Settlement Authority, RB, 6.00%, 6/01/28 |
|
|
710 |
|
|
|
812,915 |
|
State of Illinois, GO: |
|
|
|
|
|
|
|
|
5.25%, 2/01/33 |
|
|
2,435 |
|
|
|
2,507,928 |
|
5.50%, 7/01/33 |
|
|
880 |
|
|
|
920,621 |
|
5.25%, 2/01/34 |
|
|
5,910 |
|
|
|
6,066,556 |
|
5.50%, 7/01/38 |
|
|
1,475 |
|
|
|
1,550,269 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
47,003,599 |
|
Indiana 1.8% |
|
|
|
|
|
|
|
|
Indiana Finance Authority, RB, CWA Authority Project, 1st Lien, Series A, 5.25%, 10/01/38 |
|
|
1,100 |
|
|
|
1,247,290 |
|
Indianapolis Local Public Improvement Bond Bank, Refunding RB, Waterworks Project, Series A (AGC):
|
|
|
|
|
|
|
|
|
5.50%, 1/01/19 (b) |
|
|
1,125 |
|
|
|
1,206,169 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
Indiana (continued) |
|
|
|
|
|
|
|
|
Indianapolis Local Public Improvement Bond Bank, Refunding RB, Waterworks Project, Series A (AGC) (continued): |
|
|
|
|
|
|
|
|
5.50%, 1/01/38 |
|
$ |
4,625 |
|
|
$ |
4,911,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,365,301 |
|
Iowa 2.3% |
|
|
|
|
|
|
|
|
Iowa Finance Authority, RB, Iowa Health Care Facilities: |
|
|
|
|
|
|
|
|
Genesis Health System, 5.50%, 7/01/33 |
|
|
3,000 |
|
|
|
3,547,620 |
|
Series A (AGC), 5.63%, 8/15/19 (b) |
|
|
5,000 |
|
|
|
5,502,850 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,050,470 |
|
Kentucky 0.4% |
|
|
|
|
|
|
|
|
State of Kentucky Property & Building Commission, Refunding RB, Project No. 93 (AGC): |
|
|
|
|
|
|
|
|
5.25%, 2/01/19 (b) |
|
|
1,330 |
|
|
|
1,424,084 |
|
5.25%, 2/01/29 |
|
|
170 |
|
|
|
181,096 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,605,180 |
|
Massachusetts 1.2% |
|
|
|
|
|
|
|
|
Massachusetts Development Finance Agency, RB, Emerson College Issue, Series A, 5.00%, 1/01/47 |
|
|
2,370 |
|
|
|
2,632,786 |
|
Massachusetts Development Finance Agency, Refunding RB, Emmanuel College Issue, Series A, 5.00%, 10/01/43 |
|
|
420 |
|
|
|
466,943 |
|
Massachusetts School Building Authority, RB, Dedicated Sales Tax, Senior Series A, 5.00%, 5/15/43 |
|
|
1,395 |
|
|
|
1,590,998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,690,727 |
|
Michigan 6.3% |
|
|
|
|
|
|
|
|
City of Detroit Michigan Sewage Disposal System, Refunding RB, 2nd Lien, Series E (BHAC), 5.75%, 7/01/18 (b) |
|
|
3,000 |
|
|
|
3,156,150 |
|
City of Lansing Michigan, RB, Board of Water & Light Utilities System, Series A, 5.50%, 7/01/41 |
|
|
1,100 |
|
|
|
1,255,100 |
|
Michigan Finance Authority, Refunding RB: |
|
|
|
|
|
|
|
|
Henry Ford Health System, 5.00%, 11/15/41 |
|
|
2,235 |
|
|
|
2,516,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
3 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust (BYM) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
Michigan (continued) |
|
|
|
|
|
|
|
|
Michigan Finance Authority, Refunding RB (continued): |
|
|
|
|
|
|
|
|
Henry Ford Health System, 3.25%, 11/15/42 |
|
$ |
995 |
|
|
$ |
898,664 |
|
Trinity Health Credit Group, 5.00%, 12/01/21 (b) |
|
|
30 |
|
|
|
34,955 |
|
Trinity Health Credit Group, 5.00%, 12/01/39 |
|
|
9,020 |
|
|
|
10,212,173 |
|
Royal Oak Hospital Finance Authority, Refunding RB, Beaumont Health Credit Group, Series D, 5.00%, 9/01/39 |
|
|
1,560 |
|
|
|
1,735,188 |
|
State of Michigan Building Authority, Refunding RB, Facilities Program: |
|
|
|
|
|
|
|
|
Series I-A, 5.38%, 10/15/36 |
|
|
2,000 |
|
|
|
2,266,760 |
|
Series I-A, 5.38%, 10/15/41 |
|
|
800 |
|
|
|
906,704 |
|
Series II-A, 5.38%, 10/15/36 |
|
|
1,500 |
|
|
|
1,694,715 |
|
Western Michigan University, Refunding RB, General, University and College Improvements (AGM), 5.00%, 11/15/39 |
|
|
430 |
|
|
|
480,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,156,809 |
|
Nebraska 1.7% |
|
|
|
|
|
|
|
|
Central Plains Energy Project Nebraska, RB, Gas Project No. 3, 5.25%,
9/01/37 |
|
|
6,345 |
|
|
|
6,994,474 |
|
Nevada 1.9% |
|
|
|
|
|
|
|
|
County of Clark Nevada, ARB, Las Vegas-McCarran International Airport, Series A: |
|
|
|
|
|
|
|
|
5.25%, 7/01/42 |
|
|
3,000 |
|
|
|
3,246,600 |
|
(AGM), 5.25%, 7/01/39 |
|
|
4,100 |
|
|
|
4,439,193 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,685,793 |
|
New Jersey 6.3% |
|
|
|
|
|
|
|
|
New Jersey EDA, RB, Series WW: |
|
|
|
|
|
|
|
|
5.25%, 6/15/33 |
|
|
170 |
|
|
|
178,976 |
|
5.00%, 6/15/34 |
|
|
225 |
|
|
|
231,138 |
|
5.00%, 6/15/36 |
|
|
1,395 |
|
|
|
1,429,289 |
|
5.25%, 6/15/40 |
|
|
400 |
|
|
|
418,668 |
|
New Jersey Transportation Trust Fund Authority, RB: |
|
|
|
|
|
|
|
|
5.00%, 6/15/36 |
|
|
5,070 |
|
|
|
5,183,821 |
|
CAB, Transportation System, Series A, 0.00%, 12/15/38 (d) |
|
|
5,845 |
|
|
|
1,890,390 |
|
Transportation Program, Series AA, 5.25%, 6/15/33 |
|
|
1,660 |
|
|
|
1,740,361 |
|
Transportation Program, Series AA, 5.00%, 6/15/38 |
|
|
945 |
|
|
|
965,213 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
New Jersey (continued) |
|
|
|
|
|
|
|
|
New Jersey Transportation Trust Fund Authority, RB (continued): |
|
|
|
|
|
|
|
|
Transportation System, Series A, 5.50%, 6/15/41 |
|
$ |
3,000 |
|
|
$ |
3,117,450 |
|
Transportation System, Series AA, 5.50%, 6/15/39 |
|
|
3,785 |
|
|
|
4,013,917 |
|
Transportation System, Series B, 5.25%, 6/15/36 |
|
|
5,000 |
|
|
|
5,168,700 |
|
Transportation System, Series D, 5.00%, 6/15/32 |
|
|
900 |
|
|
|
931,977 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,269,900 |
|
New Mexico 0.1% |
|
|
|
|
|
|
|
|
New Mexico Hospital Equipment Loan Council, Refunding RB, Presbyterian Healthcare Services,
5.00%, 8/01/44 |
|
|
405 |
|
|
|
457,630 |
|
New York 2.7% |
|
|
|
|
|
|
|
|
City of New York New York Transitional Finance Authority, BARB, Fiscal 2009, Series S-4, 5.50%, 1/15/33 |
|
|
1,950 |
|
|
|
2,088,665 |
|
City of New York New York Transitional Finance Authority, RB, Future Tax Secured Fiscal, Sub-Series E-1, 5.00%,
2/01/37 |
|
|
1,465 |
|
|
|
1,737,607 |
|
City of New York New York Transitional Finance Authority, Refunding RB, Future Tax Secured, Series B, 5.00%,
11/01/32 |
|
|
1,650 |
|
|
|
1,925,946 |
|
Hudson Yards Infrastructure Corp., RB, Series A, 5.75%, 2/15/47 |
|
|
770 |
|
|
|
877,307 |
|
Hudson Yards Infrastructure Corp., Refunding RB, Series A, 5.00%, 2/15/39 |
|
|
710 |
|
|
|
832,688 |
|
Metropolitan Transportation Authority, Refunding RB, Series B, 5.00%, 11/15/37 |
|
|
1,570 |
|
|
|
1,840,935 |
|
State of New York Dormitory Authority, RB, Series B, 5.75%, 3/15/36 |
|
|
1,300 |
|
|
|
1,408,459 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,711,607 |
|
Ohio 0.7% |
|
|
|
|
|
|
|
|
County of Lucas Ohio, Refunding RB, Promedica Healthcare, Series A, 6.50%, 11/15/37 |
|
|
610 |
|
|
|
724,442 |
|
State of Ohio Turnpike Commission, RB, Junior Lien, Infrastructure Projects, Series A-1: |
|
|
|
|
|
|
|
|
5.25%, 2/15/32 |
|
|
780 |
|
|
|
919,714 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
|
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust (BYM) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
Ohio (continued) |
|
|
|
|
|
|
|
|
State of Ohio Turnpike Commission, RB, Junior Lien, Infrastructure Projects, Series A-1 (continued): |
|
|
|
|
|
|
|
|
5.25%, 2/15/33 |
|
$ |
1,095 |
|
|
$ |
1,286,603 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,930,759 |
|
Oregon 0.4% |
|
|
|
|
|
|
|
|
Clackamas County School District No. 12 North Clackamas, GO, CAB, Series A, 0.00%, 6/15/38 (d) |
|
|
1,115 |
|
|
|
464,665 |
|
Counties of Washington & Multnomah Oregon School District No. 48J Beaverton, GO, Convertible CAB, Series D, 0.00%,
6/15/36 (a) |
|
|
945 |
|
|
|
1,071,167 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,535,832 |
|
Pennsylvania 3.5% |
|
|
|
|
|
|
|
|
Pennsylvania HFA, RB, S/F Housing Mortgage, Series 118-B, 4.05%, 10/01/40 |
|
|
1,770 |
|
|
|
1,828,764 |
|
Pennsylvania Higher Educational Facilities Authority, Refunding RB, Thomas Jefferson University, Series A, 5.25%,
9/01/50 |
|
|
4,245 |
|
|
|
4,766,668 |
|
Pennsylvania Turnpike Commission, RB: |
|
|
|
|
|
|
|
|
Series A, 5.00%, 12/01/38 |
|
|
695 |
|
|
|
780,784 |
|
Series A-1, 5.00%, 12/01/41 |
|
|
2,730 |
|
|
|
3,075,236 |
|
Series B, 5.00%, 12/01/40 |
|
|
1,060 |
|
|
|
1,199,326 |
|
Series C, 5.50%, 12/01/33 |
|
|
630 |
|
|
|
743,154 |
|
Subordinate, Special Motor License Fund, 6.00%, 12/01/20 (b) |
|
|
625 |
|
|
|
730,844 |
|
Pennsylvania Turnpike Commission, Refunding RB, Series A-1, 5.00%, 12/01/40 |
|
|
850 |
|
|
|
955,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,080,737 |
|
Rhode Island 1.5% |
|
|
|
|
|
|
|
|
Rhode Island Commerce Corp., RB, Airport Corp., Series D, 5.00%, 7/01/46 |
|
|
250 |
|
|
|
280,610 |
|
Tobacco Settlement Financing Corp., Refunding RB, Series B, 4.50%, 6/01/45 |
|
|
5,855 |
|
|
|
5,925,670 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,206,280 |
|
South Carolina 5.0% |
|
|
|
|
|
|
|
|
South Carolina Jobs EDA, Refunding RB, Palmetto Health, Series A (AGM), 6.50%, 8/01/39 |
|
|
260 |
|
|
|
304,723 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
South Carolina (continued) |
|
|
|
|
|
|
|
|
South Carolina Public Service Authority, RB, Santee Cooper, Series E, 5.50%, 12/01/53 |
|
$ |
610 |
|
|
$ |
678,058 |
|
South Carolina Public Service Authority, Refunding RB, Series B (AGM), 5.00%, 12/01/56 |
|
|
2,845 |
|
|
|
3,172,431 |
|
State of South Carolina Ports Authority, RB, 5.25%, 7/01/40 |
|
|
5,000 |
|
|
|
5,464,650 |
|
State of South Carolina Public Service Authority, RB, Santee Cooper, Series A, 5.50%, 12/01/54 |
|
|
6,960 |
|
|
|
7,779,749 |
|
State of South Carolina Public Service Authority, Refunding RB, Santee Cooper, Series B, 5.00%, 12/01/38 |
|
|
2,360 |
|
|
|
2,565,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,965,261 |
|
Tennessee 0.0% |
|
|
|
|
|
|
|
|
Metropolitan Government of Nashville & Davidson County Health &
Educational Facilities Board, RB, Health & Educational Facilities Board, Vanderbilt University Medical Center, Series A, 5.00%, 7/01/40 |
|
|
35 |
|
|
|
39,548 |
|
Texas 19.1% |
|
|
|
|
|
|
|
|
City of Houston Texas Combined Utility System Revenue, Refunding RB, 1st Lien, Series B, 5.00%, 11/15/36 |
|
|
2,890 |
|
|
|
3,407,050 |
|
City of San Antonio Texas Electric & Gas Revenue, RB, Junior Lien, 5.00%, 2/01/38 |
|
|
615 |
|
|
|
699,925 |
|
Coppell Texas ISD, GO, CAB, Refunding (PSF-GTD), 0.00%, 8/15/30 (d) |
|
|
10,030 |
|
|
|
6,999,837 |
|
County of Harris Texas, GO, Refunding (NPFGC) (d): |
|
|
|
|
|
|
|
|
0.00%, 8/15/25 |
|
|
7,485 |
|
|
|
6,362,624 |
|
0.00%, 8/15/28 |
|
|
10,915 |
|
|
|
8,489,905 |
|
County of Harris Texas Houston Sports Authority, Refunding RB, CAB, Junior Lien, Series H (NPFGC) (d): |
|
|
|
|
|
|
|
|
0.00%, 11/15/38 |
|
|
5,785 |
|
|
|
2,097,352 |
|
0.00%, 11/15/39 |
|
|
6,160 |
|
|
|
2,094,954 |
|
County of Midland Texas Fresh Water Supply District No. 1, RB, CAB, City of Midland Project, Series A, 0.00%, 9/15/36
(d) |
|
|
2,340 |
|
|
|
1,060,792 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
5 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust (BYM) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
Texas (continued) |
|
|
|
|
|
|
|
|
Dallas-Fort Worth International Airport, Refunding ARB, Series F, 5.25%, 11/01/33 |
|
$ |
1,090 |
|
|
$ |
1,271,583 |
|
Grand Parkway Transportation Corp., RB, Convertible CAB, Series B, 0.00%, 10/01/46 (a) |
|
|
2,365 |
|
|
|
2,136,872 |
|
Harris County-Houston Sports Authority, Refunding RB, 3rd Lien, Series A (NPFGC) (d): |
|
|
|
|
|
|
|
|
0.00%, 11/15/24 (b) |
|
|
5,965 |
|
|
|
2,269,623 |
|
0.00%, 11/15/38 |
|
|
10,925 |
|
|
|
3,592,577 |
|
Leander ISD, GO, Refunding, CAB, Series D, 0.00%, 8/15/38 (d) |
|
|
3,775 |
|
|
|
1,535,104 |
|
North Texas Tollway Authority, RB: |
|
|
|
|
|
|
|
|
CAB, Special Project System, Series B, 0.00%, 9/01/37 (d) |
|
|
1,975 |
|
|
|
777,716 |
|
Convertible CAB, Series C, 0.00%, 9/01/45 (a) |
|
|
2,500 |
|
|
|
2,923,100 |
|
Special Projects System, Series A, 6.00%, 9/01/41 |
|
|
1,000 |
|
|
|
1,174,650 |
|
North Texas Tollway Authority, Refunding RB: |
|
|
|
|
|
|
|
|
1st Tier System (NPFGC), 5.75%, 1/01/18 (b) |
|
|
8,650 |
|
|
|
8,897,044 |
|
1st Tier System (NPFGC), 5.75%, 1/01/40 |
|
|
2,785 |
|
|
|
2,854,597 |
|
1st Tier System, Series A, 6.00%, 1/01/19 (b) |
|
|
510 |
|
|
|
550,372 |
|
1st Tier System, Series A (NPFGC), 6.00%, 1/01/28 |
|
|
115 |
|
|
|
123,895 |
|
1st Tier System, Series S, 5.75%, 1/01/18 (b) |
|
|
11,615 |
|
|
|
11,946,725 |
|
Series B, 5.00%, 1/01/40 |
|
|
385 |
|
|
|
431,023 |
|
Texas Municipal Gas Acquisition & Supply Corp. III, RB: |
|
|
|
|
|
|
|
|
5.00%, 12/15/32 |
|
|
2,540 |
|
|
|
2,801,518 |
|
Natural Gas Utility Improvements, 5.00%, 12/15/31 |
|
|
2,105 |
|
|
|
2,329,667 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
76,828,505 |
|
Utah 2.1% |
|
|
|
|
|
|
|
|
Salt Lake City Corp. Airport Revenue, RB, Series B, 5.00%, 7/01/42 |
|
|
2,575 |
|
|
|
3,022,638 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
Utah (continued) |
|
|
|
|
|
|
|
|
Utah Transit Authority, RB, Series A (AGM), 5.00%, 6/15/18 (b) |
|
$ |
5,000 |
|
|
$ |
5,211,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,233,738 |
|
Virginia 0.1% |
|
|
|
|
|
|
|
|
County of Fairfax Virginia IDA, Refunding RB, Health Care-Inova Health: |
|
|
|
|
|
|
|
|
5.50%, 5/15/19 (b) |
|
|
140 |
|
|
|
152,321 |
|
5.50%, 5/15/35 |
|
|
260 |
|
|
|
280,543 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
432,864 |
|
Washington 2.7% |
|
|
|
|
|
|
|
|
Central Puget Sound Regional Transit Authority, RB, Series A (AGM), 5.00%, 11/01/17 (b) |
|
|
3,500 |
|
|
|
3,560,760 |
|
Washington Health Care Facilities Authority, RB: |
|
|
|
|
|
|
|
|
MultiCare Health System, Remarketing, Series B, 5.00%, 8/15/44 |
|
|
2,000 |
|
|
|
2,217,820 |
|
MultiCare Health System, Series C (AGC), 5.50%, 8/15/18 (b) |
|
|
4,000 |
|
|
|
4,212,240 |
|
Providence Health & Services, Series A, 5.25%, 10/01/39 |
|
|
675 |
|
|
|
728,521 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,719,341 |
|
Wisconsin 1.3% |
|
|
|
|
|
|
|
|
Public Finance Authority, RB, KU Campus Development Corp., Central District Development Project, 5.00%, 3/01/46 |
|
|
3,215 |
|
|
|
3,624,687 |
|
State of Wisconsin Health & Educational Facilities Authority, RB, Ascension Health Senior Credit Group, Series E, 5.00%,
11/15/33 |
|
|
1,500 |
|
|
|
1,628,040 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,252,727 |
|
Total Municipal Bonds 112.6% |
|
|
|
|
|
|
452,097,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to
Tender Option Bond Trusts (e) |
|
Arizona 0.3% |
|
|
|
|
|
|
|
|
City of Phoenix Arizona Civic Improvement Corp., Refunding RB, Water System, Junior Lien,
Series A, 5.00%, 7/01/19 (b) |
|
|
1,300 |
|
|
|
1,408,056 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
|
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust (BYM) |
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (e) |
|
Par
(000) |
|
|
Value |
|
California 3.5% |
|
|
|
|
|
|
|
|
California State University, RB, Systemwide, Series A (AGM) (f): |
|
|
|
|
|
|
|
|
5.00%, 5/01/18 (b) |
|
$ |
3,292 |
|
|
$ |
3,417,132 |
|
5.00%, 11/01/33 |
|
|
86 |
|
|
|
89,417 |
|
County of San Diego California Water Authority Financing Corp., COP, Refunding, Series A (AGM) (b): |
|
|
|
|
|
|
|
|
5.00%, 5/01/18 |
|
|
808 |
|
|
|
839,030 |
|
5.00%, 5/01/18 |
|
|
4,062 |
|
|
|
4,218,416 |
|
Los Angeles Community College District California, GO, Election of 2001, Series A (AGM), 5.00%, 8/01/17 (b) |
|
|
5,000 |
|
|
|
5,035,750 |
|
San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/19 (b) |
|
|
449 |
|
|
|
490,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,090,043 |
|
Connecticut 0.4% |
|
|
|
|
|
|
|
|
Connecticut State Health & Educational Facility Authority, Refunding RB, Trinity
Health Credit Group, 5.00%, 12/01/45 |
|
|
1,561 |
|
|
|
1,774,899 |
|
District of Columbia 0.3% |
|
|
|
|
|
|
|
|
District of Columbia, RB, Series A, 5.50%, 12/01/30 (f) |
|
|
1,080 |
|
|
|
1,192,632 |
|
Florida 6.7% |
|
|
|
|
|
|
|
|
City of Miami Beach Florida, RB, 5.00%, 9/01/45 |
|
|
3,500 |
|
|
|
3,999,835 |
|
County of Miami-Dade Florida, Refunding RB, Transit System Sales Surtax, 5.00%, 7/01/42 |
|
|
1,950 |
|
|
|
2,178,384 |
|
County of Miami-Dade Florida Water & Sewer System (AGC), 5.00%, 10/01/39 |
|
|
10,101 |
|
|
|
11,162,987 |
|
County of Orange Florida School Board, COP, Series A (AGC), 5.50%, 8/01/19 (b) |
|
|
6,096 |
|
|
|
6,687,188 |
|
State of Florida Board of Education, GO, Refunding, Series C, 5.00%, 6/01/18 (f) |
|
|
2,999 |
|
|
|
3,028,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,057,044 |
|
Illinois 6.3% |
|
|
|
|
|
|
|
|
Illinois Finance Authority, RB, The Carle Foundation, Series A (AGM), 6.00%, 8/15/41 |
|
|
2,400 |
|
|
|
2,748,744 |
|
State of Illinois, RB, Build Illinois, Series B, 5.25%, 6/15/19 (b)(f) |
|
|
1,400 |
|
|
|
1,519,768 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (e) |
|
Par
(000) |
|
|
Value |
|
Illinois (continued) |
|
|
|
|
|
|
|
|
State of Illinois Toll Highway Authority, RB: |
|
|
|
|
|
|
|
|
Senior Priority, Series A, 5.00%, 1/01/40 |
|
$ |
3,045 |
|
|
$ |
3,442,412 |
|
Senior Priority, Series B, 5.50%, 1/01/18 (b) |
|
|
4,499 |
|
|
|
4,621,725 |
|
Senior, Series B, 5.00%, 1/01/40 |
|
|
1,170 |
|
|
|
1,327,403 |
|
Series A, 5.00%, 1/01/38 |
|
|
7,714 |
|
|
|
8,657,795 |
|
Series C, 5.00%, 1/01/38 |
|
|
2,658 |
|
|
|
2,994,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,312,393 |
|
Kansas 1.6% |
|
|
|
|
|
|
|
|
County of Wyandotte Kansas Unified School District, GO, Series A, 5.50%,
9/01/47 |
|
|
5,363 |
|
|
|
6,500,784 |
|
Maryland 0.9% |
|
|
|
|
|
|
|
|
City of Baltimore Maryland Water Utility Fund, RB, Sub-Water Projects, Series A, 5.00%,
7/01/41 |
|
|
3,139 |
|
|
|
3,658,243 |
|
Massachusetts 0.5% |
|
|
|
|
|
|
|
|
Commonwealth of Massachusetts, GO, Series A, 5.00%, 3/01/46 |
|
|
1,661 |
|
|
|
1,893,504 |
|
Michigan 0.9% |
|
|
|
|
|
|
|
|
Michigan Finance Authority, RB, Beaumont Health Credit Group, 5.00%, 11/01/44 |
|
|
2,220 |
|
|
|
2,485,437 |
|
Michigan State Building Authority, Refunding RB, Facilities Program, Series I, 5.00%, 10/15/45 |
|
|
960 |
|
|
|
1,080,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,565,437 |
|
Nevada 2.8% |
|
|
|
|
|
|
|
|
City of Las Vegas Nevada, GO, Limited Tax, Performing Arts Center, 6.00%, 4/01/19 (b)(f) |
|
|
4,197 |
|
|
|
4,581,693 |
|
County of Clark Nevada Water Reclamation District, GO, Limited Tax, Series B, 5.75%, 7/01/19 (b) |
|
|
2,024 |
|
|
|
2,223,798 |
|
Las Vegas Valley Water District Nevada, GO, Refunding, Water Improvement, Series A, 5.00%, 6/01/46 |
|
|
3,900 |
|
|
|
4,484,688 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,290,179 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
7 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust (BYM) |
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (e) |
|
Par
(000) |
|
|
Value |
|
New Jersey 0.8% |
|
|
|
|
|
|
|
|
County of Hudson New Jersey Improvement Authority, RB, Hudson County Vocational-Technical Schools Project, 5.25%,
5/01/51 |
|
$ |
920 |
|
|
$ |
1,071,478 |
|
New Jersey Transportation Trust Fund Authority, RB, Transportation System, Series B, 5.25%, 6/15/36 (f) |
|
|
2,000 |
|
|
|
2,067,956 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,139,434 |
|
New York 13.5% |
|
|
|
|
|
|
|
|
City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution,
Fiscal 2013, Series CC, 5.00%, 6/15/47 |
|
|
6,240 |
|
|
|
7,064,976 |
|
City of New York New York Water & Sewer System, Refunding RB, 2nd General Resolution: |
|
|
|
|
|
|
|
|
Fiscal 2014, Series DD, 5.00%, 6/15/35 |
|
|
1,845 |
|
|
|
2,152,654 |
|
Series FF, 5.00%, 6/15/39 |
|
|
8,355 |
|
|
|
9,735,246 |
|
Metropolitan Transportation Authority, RB, Sub-Series D-1, 5.25%, 11/15/44 |
|
|
3,850 |
|
|
|
4,503,268 |
|
Metropolitan Transportation Authority, Refunding RB, Series C-1, 5.25%, 11/15/56 |
|
|
1,700 |
|
|
|
1,977,521 |
|
New York City Transitional Finance Authority, Refunding RB, Future Tax Secured, Series B, 5.00%, 11/01/30 |
|
|
12,500 |
|
|
|
14,690,625 |
|
New York State Urban Development Corp., RB, Personal Income Tax, General Purpose, Series A-1, 5.00%, 3/15/43 |
|
|
5,720 |
|
|
|
6,430,252 |
|
Port Authority of New York & New Jersey, Refunding RB, Consolidated, 198th Series, 5.25%, 11/15/56 |
|
|
2,561 |
|
|
|
3,020,186 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (e) |
|
Par
(000) |
|
|
Value |
|
New York (continued) |
|
|
|
|
|
|
|
|
Triborough Bridge & Tunnel Authority, RB, General, Series A-2, 5.25%, 11/15/34 (f) |
|
$ |
4,500 |
|
|
$ |
4,779,135 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
54,353,863 |
|
Ohio 0.2% |
|
|
|
|
|
|
|
|
State of Ohio, RB, Cleveland Clinic Health Obligated Group, Series B, 5.50%,
1/01/34 |
|
|
620 |
|
|
|
662,594 |
|
Pennsylvania 1.8% |
|
|
|
|
|
|
|
|
County of Westmoreland Pennsylvania Municipal Authority, Refunding RB (BAM), 5.00%, 8/15/42 |
|
|
1,020 |
|
|
|
1,163,382 |
|
Pennsylvania Turnpike Commission, RB, Sub-Series A, 5.50%, 12/01/42 |
|
|
4,997 |
|
|
|
5,878,845 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,042,227 |
|
South Carolina 0.2% |
|
|
|
|
|
|
|
|
South Carolina Public Service Authority, Refunding RB, Series A (b)(f): |
|
|
|
|
|
|
|
|
5.50%, 1/01/19 |
|
|
48 |
|
|
|
51,278 |
|
5.50%, 1/01/19 |
|
|
553 |
|
|
|
592,915 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
644,193 |
|
Texas 2.4% |
|
|
|
|
|
|
|
|
City of Houston Texas, Refunding RB, Airport System, Senior Lien, Series A, 5.50%, 7/01/34 |
|
|
4,167 |
|
|
|
4,365,394 |
|
County of Tarrant Texas Cultural Education Facilities Finance Corp., RB, Baylor Health Care System Project, Series A, 5.00%,
11/15/38 |
|
|
719 |
|
|
|
802,735 |
|
County of Tarrant Texas Cultural Education Facilities Finance Corp., Refunding RB, Texas Health Resources System, Series A, 5.00%,
2/15/41 |
|
|
3,920 |
|
|
|
4,471,897 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,640,026 |
|
Washington 1.0% |
|
|
|
|
|
|
|
|
Washington Health Care Facilities Authority, Refunding RB, Seattle Childrens Hospital,
Series B, 5.00%, 10/01/38 |
|
|
3,210 |
|
|
|
3,866,702 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
|
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust (BYM) |
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (e) |
|
Par
(000) |
|
|
Value |
|
Wisconsin 1.6% |
|
|
|
|
|
|
|
|
Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert & Community Health, Inc., Obligated
Group: |
|
|
|
|
|
|
|
|
Series A, 5.00%, 4/01/42 |
|
$ |
3,520 |
|
|
$ |
3,835,462 |
|
Series C, 5.25%, 4/01/19 (b) |
|
|
2,500 |
|
|
|
2,693,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,528,462 |
|
Total Municipal Bonds Transferred to
Tender Option Bond Trusts 45.7% |
|
|
|
183,620,715 |
|
Total Long-Term Investments
(Cost $588,132,538) 158.3% |
|
|
|
635,718,379 |
|
|
|
|
|
|
|
|
|
|
Short-Term
Securities |
|
Shares |
|
|
Value |
|
BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.60% (g)(h) |
|
|
5,619,402 |
|
|
$ |
5,620,526 |
|
Total Short-Term Securities
(Cost $5,620,377) 1.4% |
|
|
|
5,620,526 |
|
Total Investments
(Cost $593,752,915*) 159.7% |
|
|
|
641,338,905 |
|
Other Assets Less Liabilities 1.3% |
|
|
|
5,019,124 |
|
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable (26.8)% |
|
|
|
(107,452,857 |
) |
Loan for TOB Trust Certificates (0.0)% |
|
|
|
(83,280 |
) |
VMTP Shares, at Liquidation Value (34.2)% |
|
|
|
(137,200,000 |
) |
|
|
|
|
|
|
|
|
|
Net Assets Applicable to Common Shares 100.0% |
|
|
$ |
401,621,892 |
|
|
|
|
|
|
|
|
|
|
* |
As of May 31, 2017, gross unrealized appreciation and depreciation based on cost for U.S. federal income tax purposes were as follows: |
|
|
|
|
|
|
|
|
|
Tax cost |
|
|
|
|
|
$ |
488,535,032 |
|
|
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
|
|
|
|
$ |
48,544,705 |
|
Gross unrealized depreciation |
|
|
|
|
|
|
(3,276,969 |
) |
|
|
|
|
|
|
|
|
|
Net unrealized appreciation |
|
|
|
|
|
$ |
45,267,736 |
|
|
|
|
|
|
|
|
|
|
|
Notes to Schedule of Investments |
(a) |
|
Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end.
|
(b) |
|
U.S. Government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium
to par. |
(c) |
|
When-issued security. |
(e) |
|
Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing.
|
(f) |
|
All or a portion of security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements,
which expire between June 01, 2017 to December 01, 2029, is $12,093,907. |
(g) |
|
During the period ended May 31, 2017, investments in issuers considered to be affiliate of the Trust 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, 2016 |
|
|
Net Activity |
|
|
Shares Held
at May 31, 2017 |
|
|
Value at May 31, 2017 |
|
|
Income |
|
|
Net
Realized Gain1 |
|
|
Change in Unrealized Appreciation |
|
BlackRock Liquidity Funds, MuniCash, Institutional Class |
|
|
3,605,050 |
|
|
|
2,014,352 |
|
|
|
5,619,402 |
|
|
$ |
5,620,526 |
|
|
$ |
18,759 |
|
|
$ |
4,334 |
|
|
$ |
149 |
|
1 |
|
Includes net capital gain distributions. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
9 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust (BYM) |
(h) |
|
Current yield as of period end. |
|
Derivative Financial Instruments Outstanding as of Period
End |
Futures Contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts
Short |
|
Issue |
|
|
Expiration |
|
|
Notional Value |
|
|
Unrealized Depreciation |
|
(65) |
|
|
5-Year U.S. Treasury Note |
|
|
|
September 2017 |
|
|
$ |
7,690,312 |
|
|
$ |
(11,356 |
) |
(163) |
|
|
10-Year U.S. Treasury Note |
|
|
|
September 2017 |
|
|
$ |
20,586,391 |
|
|
|
(61,952 |
) |
(127) |
|
|
Long U.S. Treasury Bond |
|
|
|
September 2017 |
|
|
$ |
19,534,188 |
|
|
|
(158,927 |
) |
(28) |
|
|
Ultra U.S. Treasury Bond |
|
|
|
September 2017 |
|
|
$ |
4,623,500 |
|
|
|
(55,531 |
) |
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(287,766 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AGC |
|
Assured Guarantee Corp. |
|
|
|
|
|
|
|
|
AGM |
|
Assured Guaranty Municipal Corp. |
|
|
|
|
|
|
|
|
AMBAC |
|
American Municipal Bond Assurance Corp. |
|
|
|
|
|
|
|
|
ARB |
|
Airport Revenue Bonds |
|
|
|
|
|
|
|
|
BAM |
|
Build America Mutual Assurance Co. |
|
|
|
|
|
|
|
|
BARB |
|
Building Aid Revenue Bonds |
|
|
|
|
|
|
|
|
BHAC |
|
Berkshire Hathaway Assurance Corp. |
|
|
|
|
|
|
|
|
CAB |
|
Capital Appreciation Bonds |
|
|
|
|
|
|
|
|
COP |
|
Certificates of Participation |
|
|
|
|
|
|
|
|
EDA |
|
Economic Development Authority |
|
|
|
|
|
|
|
|
GARB |
|
General Airport Revenue Bonds |
|
|
|
|
|
|
|
|
GO |
|
General Obligation Bonds |
|
|
|
|
|
|
|
|
HFA |
|
Housing Finance Agency |
|
|
|
|
|
|
|
|
IDA |
|
Industrial Development Authority |
|
|
|
|
|
|
|
|
ISD |
|
Independent School District |
|
|
|
|
|
|
|
|
LRB |
|
Lease Revenue Bonds |
|
|
|
|
|
|
|
|
NPFGC |
|
National Public Finance Guarantee Corp. |
|
|
|
|
|
|
|
|
PSF-GTD |
|
Permanent School Fund Guaranteed |
|
|
|
|
|
|
|
|
RB |
|
Revenue Bonds |
|
|
|
|
|
|
|
|
S/F |
|
Single-Family |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10 |
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
|
|
|
|
Schedule of Investments (continued) |
|
BlackRock Municipal Income Quality Trust (BYM) |
|
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
techniques 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 marketcorroborated inputs) |
|
|
|
Level 3 unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available
(including the Trusts 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. Investments classified within Level 3 have significant
unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the Global Valuation Committee) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held
companies or funds. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the
Global Valuation Committee in the absence of market information.
Changes in valuation techniques may result in transfers into or
out of an assigned level within the hierarchy. In accordance with the Trusts 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 and derivative financial instruments about the Trusts policy regarding valuation of investments and derivative financial instruments, refer to the Trusts most recent financial statements as contained in its
semi-annual report.
The following tables summarize the Trusts investments and derivative financial instruments categorized
in the disclosure hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-Term Investments 1 |
|
|
|
|
|
$ |
635,718,379 |
|
|
|
|
|
|
$ |
635,718,379 |
|
Short-Term Securities |
|
$ |
5,620,526 |
|
|
|
|
|
|
|
|
|
|
|
5,620,526 |
|
|
|
|
|
|
Total |
|
$ |
5,620,526 |
|
|
$ |
635,718,379 |
|
|
|
|
|
|
$ |
641,338,905 |
|
|
|
|
|
|
Derivative Financial Instruments 2 |
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate contracts |
|
$ |
(287,766 |
) |
|
|
|
|
|
|
|
|
|
$ |
(287,766 |
) |
|
1 |
|
See above schedule of investments for values in each state or political subdivision. |
|
2 |
|
Derivative financial instruments are futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
11 |
|
|
|
Schedule of Investments (concluded) |
|
BlackRock Municipal Income Quality Trust (BYM) |
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 |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOB Trust Certificates |
|
|
|
|
|
$ |
(107,452,857 |
) |
|
|
|
|
|
$ |
(107,452,857 |
) |
Loan for TOB Trust Certificates |
|
|
|
|
|
|
(83,280 |
) |
|
|
|
|
|
|
(83,280 |
) |
VMTP Shares at Liquidation Value |
|
|
|
|
|
|
(137,200,000 |
) |
|
|
|
|
|
|
(137,200,000 |
) |
|
|
|
|
|
Total |
|
|
|
|
|
$ |
(244,736,137 |
) |
|
|
|
|
|
$ |
(244,736,137 |
) |
|
|
|
|
|
During the period ended May 31, 2017, there were no transfers between levels.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 |
|
BLACKROCK MUNICIPAL INCOME QUALITY TRUST |
|
MAY 31, 2017 |
|
|
|
|
|
Item 2 |
|
Controls and Procedures |
|
|
2(a) |
|
The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants 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 registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected,
or are reasonably likely to materially affect, the registrants 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 Municipal Income Quality Trust |
|
|
By: |
|
/s/ John M. Perlowski |
|
|
John M. Perlowski |
|
|
Chief Executive Officer (principal executive officer) of BlackRock Municipal Income Quality Trust |
Date: July 24, 2017
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 Municipal Income Quality Trust |
Date: July 24, 2017
|
|
|
By: |
|
/s/ Neal J. Andrews |
|
|
Neal J. Andrews |
|
|
Chief Financial Officer (principal financial officer) of BlackRock Municipal Income Quality Trust |
Date: July 24, 2017