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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000930413-08-005748.txt : 20080926
<SEC-HEADER>0000930413-08-005748.hdr.sgml : 20080926
<ACCEPTANCE-DATETIME>20080926100156
ACCESSION NUMBER:		0000930413-08-005748
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080731
FILED AS OF DATE:		20080926
DATE AS OF CHANGE:		20080926
EFFECTIVENESS DATE:		20080926

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK LTD DURATION INCOME TRUST
		CENTRAL INDEX KEY:			0001233681
		IRS NUMBER:				200096695
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21349
		FILM NUMBER:		081090104

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-227

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK LIMITED DURATION INCOME TRUST
		DATE OF NAME CHANGE:	20030611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MANAGED DURATION INCOME TRUST
		DATE OF NAME CHANGE:	20030529

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MANAGED DURATION TRUST
		DATE OF NAME CHANGE:	20030516
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>c54724_n-q.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">



<P align="center">
<FONT face="serif">UNITED STATES </FONT><BR>
<FONT face="serif"> SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
<FONT face="serif">Washington, D.C. 20549 </FONT></P>
<P align="center">
<B><FONT face="serif">FORM N-Q </FONT></B></P>
<P align="center">
<B><FONT face="serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED </FONT></B><BR>
<B><FONT face="serif">MANAGEMENT INVESTMENT COMPANY </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Investment Company Act file number 811-21349 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Name of Fund: BlackRock Limited Duration Income Trust (BLW) </FONT></P>
<P align="left">
<FONT size=2 face="serif">Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 </FONT></P>
<div style="margin-left:20px">
  <p align="left"><font size=2 face="serif">Name and address of agent for service:
      Donald C. Burke, Chief Executive Officer, BlackRock Limited Duration Income
      Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address:
      P.O. Box 9011, Princeton, NJ, 08543-9011 </font></p>
</div>
<P align="left"><FONT size=2 face="serif">Registrant&#146;s telephone number, including area code: (800) 882-0052, Option 4 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Date of fiscal year end: 10/31/2008 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Date of reporting period: 05/01/2008 &#150; 07/31/2008 </FONT></P>

<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<P align="left">
<FONT size=2 face="serif">Item 1 &#150; Schedule of Investments </FONT></P>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align=center nowrap>
 &nbsp;<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Asset-Backed Securities</FONT></B>  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Sterling Bank Trust Series 2004-2 Class Note,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2.081%, 3/30/30 (a)</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">21,867</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,120,701</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Sterling Coofs Trust Series 1, 2.362%, 4/15/29 (a)</FONT>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">17,311</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,292,887</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Total Asset-Backed Securities - 0.4%</FONT></B>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,413,588</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Corporate Bonds</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Aerospace &amp; Defense - 0.6%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">CHC Helicopter Corp., 7.375%, 5/01/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,715</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,781,456</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">DRS Technologies, Inc., 6.875%, 11/01/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">330</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">331,650</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">DRS Technologies, Inc., 7.625%, 2/01/18</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">310</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">322,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Hexcel Corp., 6.75%, 2/01/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">650</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">628,875</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">TransDigm, Inc., 7.75%, 7/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">570</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">555,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,620,131</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Air Freight &amp; Logistics - 0.1%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Park-Ohio Industries, Inc., 8.375%, 11/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">905</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">746,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Airlines - 0.1%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">American Airlines, Inc. Series 99-1, 7.324%, 4/15/11</FONT>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">520</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">479,700</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Auto Components - 0.4%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Allison Transmission, Inc., 11%, 11/01/15 (b)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">70</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">63,350</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Allison Transmission, Inc., 11.25%, 11/01/15 (b)(c)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">670</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">582,900</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lear Corp., 8.75%, 12/01/16</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,575</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,244,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Metaldyne Corp., 10%, 11/01/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">410,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,300,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Automobiles - 0.1%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Ford Capital BV, 9.50%, 6/01/10</FONT>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">420,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Building Products - 0.4%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">CPG International I, Inc., 10.50%, 7/01/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">750</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">592,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Momentive Performance Materials, Inc.,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">11.50%, 12/01/16</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,590</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,994,300</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,586,800</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Capital Markets - 1.0%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">E*Trade Financial Corp., 12.50%, 11/30/17 (b)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,637,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Marsico Parent Co., LLC, 10.625%, 1/15/16 (b)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,651</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,283,174</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Marsico Parent Holdco, LLC, 12.50%, 7/15/16 (b)(c)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">977</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">831,492</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Marsico Parent Superholdco, LLC,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">14.50%, 1/15/18 (b)(c)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">659</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">554,025</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">6,306,191</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Chemicals - 1.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">American Pacific Corp., 9%, 2/01/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,100</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,064,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Ames True Temper, Inc., 6.791%, 1/15/12 (e)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,085</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,657,575</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Huntsman LLC, 11.50%, 7/15/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">310</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">323,175</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Ineos Group Holdings Plc, 7.875%, 2/15/16 (b)</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,490</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,481,656</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Innophos, Inc., 8.875%, 8/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,225</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,225,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Key Plastics LLC, 11.75%, 3/15/13 (b)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">980</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">343,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Terra Capital, Inc. Series B, 7%, 2/01/17</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">115</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">113,562</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,208,218</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Commercial Services &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Casella Waste Systems, Inc., 9.75%, 2/01/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,980,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Supplies - 1.7%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">DI Finance Series B, 9.50%, 2/15/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,538</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,515,793</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">FTI Consulting, Inc., 7.75%, 10/01/16</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">350</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">357,875</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sally Holdings LLC, 10.50%, 11/15/16 (b)(f)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">990</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">952,875</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Waste Services, Inc., 9.50%, 4/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,065</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,075,325</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">West Corp., 11%, 10/15/16 (f)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,595</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,858,025</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">10,739,893</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">1</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;"><B><FONT size=2 face="sans-serif">(Percentages
    shown are based on Net Assets)</FONT></B> </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align="center">
    <B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Corporate Bonds</FONT></B>  </TD>
  <TD colspan="2" align="center" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Communications</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Nortel Networks Ltd., 7.041%, 7/15/11 (e)</FONT>  </TD>
  <TD width=5%><FONT size=2 face="sans-serif">&#36;</FONT> </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif"> 1,970</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,856,725</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Equipment - 0.3%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Containers &amp; Packaging - 0.8%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Berry Plastics Holding Corp., 6.651%, 9/15/14 (e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">510</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">374,850</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Berry Plastics Holding Corp., 8.875%, 9/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">910</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">728,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Crown Americas LLC, 7.75%, 11/15/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">885</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">913,762</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Impress Holdings BV, 5.916%, 9/15/13 (b)(e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,370</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,212,450</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Pregis Corp., 12.375%, 10/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,020</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,939,200</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5,168,262</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Diversified Financial Services -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Ford Motor Credit Co., 7.375%, 2/01/11</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,800</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,256,979</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">1.4%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Ford Motor Credit Co. LLC, 5.538%, 1/13/12 (e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">565</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">409,632</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Ford Motor Credit Co. LLC, 7.241%, 4/15/12 (e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">60</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">56,971</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Ford Motor Credit Co. LLC, 7.80%, 6/01/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,665</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,250,487</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">GMAC LLC, 6.875%, 8/28/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,735</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,716,483</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Structured Asset Repackaged Trust, 3.761%, 1/21/10</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,068</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,022,099</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">8,712,651</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Diversified Telecommunication</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Cincinnati Bell, Inc., 7.25%, 7/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,420</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,370,300</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Services - 3.1%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Deutsche Telekom International Finance BV,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8%, 6/15/10 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">5,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">5,279,240</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Qwest Communications International, Inc.,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.176%, 2/15/09 (e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,364</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,350,360</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Qwest Communications International, Inc.,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">7.50%, 2/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,595</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,316,387</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Qwest Corp., 6.026%, 6/15/13 (e)(f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,782,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Wind Acquisition Finance SA, 10.75%, 12/01/15 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,552,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Windstream Corp., 8.125%, 8/01/13 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,340</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,363,400</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Windstream Corp., 8.625%, 8/01/16</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,060</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,073,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">19,087,937</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Electric Utilities - 0.6%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Edison Mission Energy, 7.50%, 6/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">590</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">592,950</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Elwood Energy LLC, 8.159%, 7/05/26</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">149</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">143,601</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Midwest Generation LLC Series B, 8.56%, 1/02/16</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,676</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,762,490</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,499,041</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Electrical Equipment - 0.6%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Superior Essex Communications LLC, 9%, 4/15/12</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,765</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,840,300</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Electronic Equipment &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sanmina-SCI Corp., 6.75%, 3/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">315</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">280,350</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Instruments - 0.4%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sanmina-SCI Corp., 8.125%, 3/01/16 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,560</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,278,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,558,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Energy Equipment &amp; Services -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Compagnie Generale de Geophysique-Veritas,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">0.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">7.50%, 5/15/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">255</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">252,450</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Compagnie Generale de Geophysique-Veritas,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">7.75%, 5/15/17</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">420</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">416,850</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Grant Prideco, Inc. Series B, 6.125%, 8/15/15 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">380</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">377,050</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">North American Energy Partners, Inc., 8.75%, 12/01/11</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">270</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">271,350</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">SemGroup LP, 8.75%, 11/15/15 (b)(g)(h)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,240</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">167,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,485,100</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Food &amp; Staples Retailing - 0.5%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Rite Aid Corp., 7.50%, 3/01/17 (f)</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,440</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,786,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Gas Utilities - 0.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">El Paso Natural Gas Co., 8.375%, 6/15/32</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">400</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">438,266</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Targa Resources, Inc., 8.50%, 11/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">725</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">688,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,127,016</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">2</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align="center">
    <B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Corporate Bonds</FONT></B>  </TD>
  <TD colspan="2" align="center" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Health Care Equipment &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Biomet, Inc., 10%, 10/15/17</FONT>  </TD>
  <TD width=5%><FONT size=2 face="sans-serif">&#36;</FONT> </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">537,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Supplies - 1.3%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Biomet, Inc., 10.375%, 10/15/17 (c)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">527,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Biomet, Inc., 11.625%, 10/15/17</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">670</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">707,688</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">ReAble Therapeutics Finance LLC,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">10.875%, 11/15/14 (b)(f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">6,420</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">6,420,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">8,192,688</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Health Care Providers &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Tenet Healthcare Corp., 6.50%, 6/01/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,985</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,927,931</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Services - 0.7%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Viant Holdings, Inc., 10.125%, 7/15/17 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,948</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,491,060</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">4,418,991</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Hotels, Restaurants &amp; Leisure -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">American Real Estate Partners LP,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">2.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.125%, 6/01/12 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">5,860</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">5,596,300</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">American Real Estate Partners LP, 7.125%, 2/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,480</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,324,600</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Greektown Holdings, LLC, 10.75%, 12/01/13 (b)(g)(h)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,344</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">967,680</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Harrah's Operating Co., Inc., 10.75%, 2/01/16 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">5,695</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">4,299,725</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Harrah's Operating Co., Inc., 10.75%, 2/01/18 (b)(c)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,790</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,120,988</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Tropicana Entertainment LLC Series WI,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">9.625%, 12/15/14 (g)(h)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">775</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">209,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Wynn Las Vegas LLC, 6.625%, 12/01/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">100</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">90,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">13,609,043</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Household Durables - 0.0%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Berkline/BenchCraft, LLC, 4.50%, 11/03/12 (c)(g)(h)(i)</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">200</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">0</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">IT Services - 1.0%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">First Data Corp., 9.875%, 9/24/15 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">270</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">238,950</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">iPayment, Inc., 9.75%, 5/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">950</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">795,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">iPayment Investors LP, 12.75%, 7/15/14 (b)(c)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,205</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">4,180,686</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">SunGard Data Systems, Inc., 9.125%, 8/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">790</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">807,775</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">6,023,036</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Independent Power Producers &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">The AES Corp., 8.75%, 5/15/13 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,803</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,908,113</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Energy Traders - 0.7%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">NRG Energy, Inc., 7.25%, 2/01/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">210</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">204,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">NRG Energy, Inc., 7.375%, 2/01/16</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,185</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,149,450</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">4,262,313</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Industrial Conglomerates - 1.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sequa Corp., 11.75%, 12/01/15 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,210</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,792,700</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sequa Corp., 13.50%, 12/01/15 (b)(c)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,810</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">4,365,481</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,158,181</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Leisure Equipment &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Quiksilver, Inc., 6.875%, 4/15/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">575</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">451,375</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Products - 0.1%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Machinery - 1.0%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">AGY Holding Corp., 11%, 11/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,700</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,521,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Accuride Corp., 8.50%, 2/01/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">850</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">578,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sunstate Equipment Co. LLC, 10.50%, 4/01/13 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,125</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,453,125</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Synventive Molding Solutions Sub-Series A, 14%, 1/14/11</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">600</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">270,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Terex Corp., 8%, 11/15/17</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,085</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,060,587</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5,883,212</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Marine - 0.1%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Navios Maritime Holdings, Inc., 9.50%, 12/15/14</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">676</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">660,790</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Media - 6.9%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Affinion Group, Inc., 10.125%, 10/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,975</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,984,875</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Affinion Group, Inc., 11.50%, 10/15/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">850</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">845,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">CMP Susquehanna Corp., 9.875%, 5/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,425</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,527,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Cablevision Systems Corp. Series B, 7.133%, 4/01/09 (e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">800</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">805,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Charter Communications Holdings I, LLC, 11%, 10/01/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">865</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">655,238</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Charter Communications Holdings II, LLC, 10.25%, 9/15/10</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,420</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,255,388</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">3</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align="center">
 &nbsp;<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Corporate Bonds</FONT></B>  </TD>
  <TD colspan="2" align="center" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Comcast Cable Communications LLC,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.875%, 6/15/09 (f)</FONT>  </TD>
  <TD width=5%><FONT size=2 face="sans-serif">&#36;</FONT> </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">6,685</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">6,851,376</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Dex Media West LLC, 9.875%, 8/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,650</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,295,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">DirecTV Holdings LLC, 5.25%, 3/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">516,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">EchoStar DBS Corp., 5.75%, 10/01/08</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,800</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,803,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">EchoStar DBS Corp., 7%, 10/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">200</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">190,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">EchoStar DBS Corp., 7.125%, 2/01/16</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">200</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">184,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Network Communications, Inc., 10.75%, 12/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,520</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,147,600</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Nielsen Finance LLC, 4.734%, 8/01/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,825</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,853,688</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">ProtoStar I Ltd., 12.50%, 10/15/12 (b)(e)(j)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,345</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,244,435</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">R.H. Donnelley Corp., 11.75%, 5/15/15 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,443</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,807,690</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Rainbow National Services LLC, 8.75%, 9/01/12 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">925</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">935,406</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Rainbow National Services LLC, 10.375%, 9/01/14 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,134</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,318,122</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Salem Communications Corp., 7.75%, 12/15/10</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,715,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sinclair Broadcast Group, Inc. Class A, 4.875%, 7/15/18 (j)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">460</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">422,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sirius Satellite Radio, Inc., 9.625%, 8/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">185</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">151,700</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">TL Acquisitions, Inc., 10.50%, 1/15/15 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,960,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Windstream Regatta Holdings, Inc., 11%, 12/01/17 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,575</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,023,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">42,494,893</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Metals &amp; Mining - 1.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">AK Steel Corp., 7.75%, 6/15/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,200</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,255,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Freeport-McMoRan Copper &amp; Gold, Inc.,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.883%, 4/01/15 (e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,495</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,502,206</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Freeport-McMoRan Copper &amp; Gold, Inc.,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.375%, 4/01/17 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,495</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,661,013</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,418,219</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Multiline Retail - 0.7%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">JC Penny Corp. Inc., 8%, 3/01/10 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,400</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">4,532,207</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Neiman Marcus Group, Inc., 9%, 10/15/15 (c)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">73</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">71,357</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">4,603,564</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Oil, Gas &amp; Consumable Fuels -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Berry Petroleum Co., 8.25%, 11/01/16</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">550</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">541,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">2.1%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Chaparral Energy, Inc., 8.50%, 12/01/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,210</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,043,625</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Chesapeake Energy Corp., 6.375%, 6/15/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">650</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">614,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Compton Petroleum Finance Corp., 7.625%, 12/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">700</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">682,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">EXCO Resources, Inc., 7.25%, 1/15/11</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">495</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">490,050</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Encore Acquisition Co., 6%, 7/15/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">250</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">226,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">OPTI Canada, Inc., 8.25%, 12/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>

  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,990</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,004,925</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Overseas Shipholding Group, Inc., 8.75%, 12/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,650</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,716,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sabine Pass LNG LP, 7.50%, 11/30/16</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,515</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,302,900</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">SandRidge Energy, Inc., 6.416%, 4/01/14 (b)(e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,472,302</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">SandRidge Energy, Inc., 8.625%, 4/01/15 (b)(c)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,513,125</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Whiting Petroleum Corp., 7.25%, 5/01/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">160</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">157,200</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Whiting Petroleum Corp., 7.25%, 5/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,390</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,358,725</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">13,123,602</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Paper &amp; Forest Products - 0.5%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Bowater, Inc., 5.776%, 3/15/10 (e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">670</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">549,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Domtar Corp., 7.875%, 10/15/11</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">140</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">139,650</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Domtar Corp., 7.125%, 8/15/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">300</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">282,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">NewPage Corp., 9.051%, 5/01/12 (e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,425,000</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">4</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>
 &nbsp; &nbsp;<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Corporate Bonds</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">
 &nbsp;<B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">NewPage Corp., 10%, 5/01/12</FONT>  </TD>
  <TD width=5%><FONT size=2 face="sans-serif">&#36;</FONT> </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif"> 665</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%><FONT size=2 face="sans-serif">&#36;</FONT> </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif"> 636,738</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">NewPage Corp., 12%, 5/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">200</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">191,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,224,288</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Real Estate Investment Trusts</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Rouse Co. LP, 5.375%, 11/26/13 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,000</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,537,874</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(REITs) - 0.2%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Semiconductors &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Amkor Technology, Inc., 7.75%, 5/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,063</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,887,645</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Semiconductor Equipment -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Amkor Technology, Inc., 9.25%, 6/01/16</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">310</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">293,725</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">0.7%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Freescale Semiconductor, Inc., 8.875%, 12/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">940</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">796,650</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Freescale Semiconductor, Inc., 9.125%, 12/15/14 (c)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,305</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,057,050</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">4,035,070</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Software - 0.0%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">BMS Holdings, Inc., 9.954%, 2/15/12 (b)(c)(e)</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">491</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">304,597</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Specialty Retail - 2.5%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">AutoNation, Inc., 4.791%, 4/15/13 (e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">690</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">569,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">AutoNation, Inc., 7%, 4/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">690</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">594,263</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">General Nutrition Centers, Inc., 7.199%, 3/15/14 (c)(e)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,250</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,868,190</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">General Nutrition Centers, Inc., 10.75%, 3/15/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,880</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,583,900</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Group 1 Automotive, Inc., 8.25%, 8/15/13 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">5,000</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">4,550,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lazy Days' R.V. Center, Inc., 11.75%, 5/15/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,475</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">980,875</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Michaels Stores, Inc., 10%, 11/01/14 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,895</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,520,737</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Michaels Stores, Inc., 11.375%, 11/01/16 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,565</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,103,325</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sonic Automotive, Inc. Series B, 8.625%, 8/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,500</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,800,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">15,570,540</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Tobacco - 0.2%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Reynolds American, Inc., 7.625%, 6/01/16</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,033,397</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Wireless Telecommunication</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Cricket Communications, Inc., 9.375%, 11/01/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">270</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">264,600</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Services - 1.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Digicel Group Ltd., 8.875%, 1/15/15 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,120</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,033,200</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Digicel Group Ltd., 9.125%, 1/15/15 (b)(c)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,467</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,232,635</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">MetroPCS Wireless, Inc., 9.25%, 11/01/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">360</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">349,200</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Nordic Telephone Co. Holdings ApS,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.875%, 5/01/16 (b)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,850</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,715,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,594,885</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Total Corporate Bonds - 38.2%</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">236,130,798</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Foreign Government Obligations</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Colombia Government International Bond,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">9.75%, 4/23/09 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">5,000</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">5,217,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Peru Government International Bond,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.375%, 5/03/16 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,871</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">5,723,425</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Turkey Government International Bond, 7%, 9/26/16</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5,093</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5,131,197</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Total Foreign Government Obligations - 2.6%</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">16,072,122</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=center style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=center style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left style="border-bottom:1px solid #000000;"><B><FONT size=2 face="sans-serif">U.S.
    Government Agency Mortgage-Backed Securities</FONT></B> </TD>
  <TD align=center style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=center style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=center style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=center style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=center style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Fannie Mae Guaranteed Pass-Through Certificates:</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;      5.00%, 8/15/23 - 9/15/23 (k)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">121,000</FONT>  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">118,717,208</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;      5.50%, 12/01/28 - 11/01/33 (l)</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,840</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,719,772</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="sans-serif">Total U.S. Government Agency Mortgage-Backed</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Securities - 20.4%</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">126,436,980</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">5</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align=center nowrap>
    <B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Aerospace &amp; Defense - 1.0%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Avio Holding SpA Term Loan B, 6.377%, 9/25/14</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">455,357</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Avio Holding SpA Term Loan C, 5.213%, 9/25/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">455,357</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Hawker Beechcraft Acquisition
    Co. LLC Letter of Credit,</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.801%, 3/31/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">255</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">237,419</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Hawker Beechcraft Acquisition Co. LLC Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.801%, 3/31/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,581</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">4,258,658</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">IAP Worldwide Services, Inc. Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.25%, 12/31/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">582</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">461,131</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Wesco Aircraft Hardware Corp. First Lien</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Term Loan, 5.06%, 9/25/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">486</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">464,977</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">6,332,899</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Airlines - 0.3%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">US Airways Group, Inc. Term Loan B, 4.963%, 3/22/14</FONT>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,970</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,933,470</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Auto Components - 1.0%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Allison Transmission Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.21% - 5.47%, 8/07/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,132</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,693,854</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Delphi Automotive Systems Delay Draw Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.50%, 12/31/08</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">79</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">69,805</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Delphi Automotive Systems Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.50%, 12/31/08</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">771</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">685,420</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Mark IV Industries First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">7.08% - 8.26%, 6/01/11</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">864</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">613,093</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Metaldyne Corp. Letter of Credit,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.563% - 9.07%, 1/15/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">98</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">60,644</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Metaldyne Corp. Term Loan B, 6.50%, 1/11/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">667</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">412,381</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Motorsport Aftermarket Group Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.301%, 11/03/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">493</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">344,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5,879,947</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Beverages - 0.3%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Culligan International Second Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">9.197% - 9.615%, 5/25/13</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,169,883</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Le-Nature's, Inc. Term Loan B, 9.50%, 12/28/12 (g)(h)</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">570,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,739,883</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Biotechnology - 0.1%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Talecris Biotherapeutics, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">6.18%, 11/13/14</FONT>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">995</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">912,866</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Building Products - 1.4%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Armstrong World Term Loan B, 4.208%, 10/02/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">195</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">190,143</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Building Material Corp. of
    America First Lien Term Loan,</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.438% - 5.563%, 2/22/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,463</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,119,490</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Custom Building Products Second Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">7.801%, 4/29/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,177,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lafarge Roofing SA Term Loan B, 4.608%, 5/01/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">278</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">155,715</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lafarge Roofing SA Term Loan B, 6.856%, 5/01/15</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,021</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">889,630</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lafarge Roofing SA Term Loan C, 4.858%, 5/01/16</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">285</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">159,461</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lafarge Roofing SA Term Loan C, 7.106%, 5/01/16</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,019</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">887,838</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Momentive Performance Materials, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.75%, 12/04/13</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">968</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">883,255</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">6</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align=center nowrap>
    <B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Momentive Performance Materials, Inc. Term Loan B,</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.621%, 12/04/13</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,337,566</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">United Subcontractors Inc. First Lien Term Loan,</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">7.25% - 8.14%, 12/27/12</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,812</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,059,746</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">8,860,344</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="sans-serif">Capital Markets - 0.1%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Marsico Parent Co., LLC Term Loan B,</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5.75% - 7%, 11/14/14</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">498</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">422,875</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="sans-serif">Chemicals - 4.0%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">BOC Edwards Ltd. Term Loan B, 4.644%, 5/21/14</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">495</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">415,800</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Brenntag AG Term Loan B, 6.793%, 11/24/37</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">712,775</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Cognis Deutschland Term Loan A, 6.961%, 11/17/13</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">803</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,148,051</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Cognis Deutschland Term Loan B, 6.961%, 11/16/13</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">197</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">281,155</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Flint Group Term Loan B, 4.88%, 5/30/15</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,660,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Huish Detergents, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.81%, 4/15/14</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,250</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,140,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">ISP Chemco Term Loan B, 4% - 4.25%, 5/25/14</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,485</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,360,012</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Ineos Group Plc Term Loan A, 4.88% - 4.90%, 2/20/13</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,016</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">873,371</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Ineos Group Plc Term Loan B, 4.885%, 2/20/15</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,715</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,423,450</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Ineos Group Plc Term Loan C, 5.385%, 2/20/14</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,715</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,423,450</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Invista Term Loan B1, 4.301%, 4/29/11</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,274</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,203,562</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Invista Term Loan B2, 4.301%, 4/29/11</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">675</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">637,977</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lucite International Finance Plc,</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">13.96%, 7/03/14 (c)</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,105</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,046,846</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">PQ Corp. First Lien Term Loan, 5.92% - 6.05%, 5/29/15</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">4,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,737,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">PQ Corp. Second Lien Term Loan, 9.30%, 5/29/16</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,250</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,811,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Rockwood Specialties Group,
    Inc. Tranche D Term Loan,</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.299%, 12/10/12</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">966</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">927,089</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Solutia, Inc. Term Loan, 8.50%, 2/28/14</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">948,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Viridian Group Plc Term Loan, 8.744%, 4/20/12</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">894</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,233,656</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Viridian Group Plc Term Loan, 9.654%, 12/21/12</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">GBP</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">900</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,572,101</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">24,557,420</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="sans-serif">Commercial Services &amp;</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">ARAMARK Corp. Letter of Credit, 5.025%, 1/30/14</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">184</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">175,357</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="sans-serif">Supplies - 1.8%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">ARAMARK Corp. Term Loan B, 4.676%, 1/30/14</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,907</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,760,233</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Brickman Group, Inc. Term Loan, 4.801%, 1/30/14</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,234</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,117,109</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">EnviroSolutions Term Loan B, 11.50%, 7/01/12</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">450,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Euramax International Plc Second Lien Term Loan,</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">10.791%, 6/21/13</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">83</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">56,368</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Euramax International Plc Second Lien Term Loan,</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">10.791%, 6/29/13</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">167</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">113,632</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Kion GmbH Term Loan B, 4.563%, 3/04/15</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">250</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">217,232</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Kion GmbH Term Loan C, 5.063% 3/04/16</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">250</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">217,232</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Language Line Services Term Loan B1, 6.06%, 11/14/11</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">729</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">681,863</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sirva Worldwide Tranche B Term Loan,</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.21%, 12/01/10 (g)(h)</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">644</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">305,978</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">7</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
</TABLE>
<BR>
<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD colspan="2" align=center nowrap>
    <B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Synagro Technologies, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.69% - 4.81%, 3/31/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,743</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,304,181</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">West Corp. Term Loan, 4.838% - 5.171%, 10/31/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,955</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,647,117</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">11,046,302</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Communications Equipment -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Alltel Corp. Term Loan B2, 5.564%, 5/16/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,744</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,721,605</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">1.4%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Alltel Corp. Term Loan B3, 5.208%, 5/18/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">5,219</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">5,189,649</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">SafeNet, Inc. First Lien Term Loan, 5.788%, 4/12/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,980</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,712,700</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">8,623,954</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Computers &amp; Peripherals - 0.6%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Intergraph Corp. Second Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.646%, 11/17/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">750</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">718,594</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Intergraph Corp. Term Loan, 4.646%, 5/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,431</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,356,907</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Reynolds and Reynolds Co. First Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.801%, 10/31/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,930</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,787,619</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,863,120</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Construction &amp; Engineering -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Brand Energy &amp; Infrastructure Services, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">0.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.063%, 2/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">993</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">905,940</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Brand Energy &amp; Infrastructure
    Services, Inc. Term Loan B,</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.688% - 8.813%, 2/15/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">457,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,363,440</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Containers &amp; Packaging - 1.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Atlantis Plastics Second Lien Term</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Loan, 12.25%, 3/22/12 (g)(h)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">250</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">43,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Consolidated Container Co.
    LLC Second Lien Term Loan,</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">7.963% - 8.296%, 10/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">350</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">176,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Graham Packaging Co. LP Term</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Loan B, 5% - 5.063%, 4/15/11</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,095</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,992,580</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Graphic Packaging International
    Corp. Term Loan B, 5.535%</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">- 5.67%, 5/16/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,363</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,266,754</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Mivisa Envases SAU Term Loan B, 7.087%, 6/03/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,353,944</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Smurfit-Stone Container Corp. Deposit Account,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.913%, 11/01/10</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">568</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">548,329</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Solo Cup Co. Term Loan, 5.97% - 6.14%, 2/27/11</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,204</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,170,507</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,552,614</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Distributors - 0.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Keystone Automotive Operations, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5.966% - 6.234%, 1/15/12</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,434</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,118,232</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Diversified Consumer</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Coinmach Laundry Corp. Term Loan B, 5.70%, 11/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,738</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">4,347,202</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Services - 0.7%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Diversified Financial Services -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">JG Wentworth Manufacturing First Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">0.7%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.051%, 4/03/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,260,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">JG Wentworth Manufacturing Term Loan B,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.051%, 4/15/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">400</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">326,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Professional Services Term Loan, 5.22%, 10/31/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">752</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">676,849</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">4,262,849</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Diversified Telecommunication</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Country Road Communications Second Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Services - 1.5%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">10.42%, 7/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">485,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Eircom Group Plc Term Loan B, 6.856%, 8/14/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,855,905</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Eircom Group Plc Term Loan C, 6.606%, 8/14/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,856,014</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Hawaiian Telcom Term Loan C, 5.301%, 5/25/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">648</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">508,512</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">8</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align=center nowrap>
    <B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Time Warner Telecom Term Loan B, 4.47%, 2/23/14</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,023</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,931,121</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Wind Telecomunicazione SpA Term Loan A,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.221% - 6.89%, 9/22/12</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">653</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">949,795</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">9,586,347</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Electric Utilities - 0.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">TPF Generation Holdings LLC First Lien Term Loan, 4.801%,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">11/28/13</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">743</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">712,805</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">TPF Generation Holdings LLC Letter of Credit,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.696%, 11/28/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">151</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">144,427</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">TPF Generation Holdings LLC Revolving Credit,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.83%, 11/28/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">47</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">45,275</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">902,507</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Electrical Equipment - 0.4%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Electrical Components International Holdings Second Lien</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Term Loan, 9.46%, 5/05/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">225,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Generac Power Systems, Inc.
    First Lien Term Loan, 5.288%,</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">11/15/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,479</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,178,316</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sensus Metering Systems, Inc. Term Loan B-1,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.46% - 4.786%, 12/17/10</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,057</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">987,848</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sensus Metering Systems, Inc. Term Loan B-2,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.46%, 12/19/10</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">27</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">25,458</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,416,622</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Electronic Equipment &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Deutsch Connectors Term Loan B, 5.384%, 7/27/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">34</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">30,996</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Instruments - 0.9%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Deutsch Connectors Term Loan B2, 5.384%, 7/27/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">457</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">414,242</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Deutsch Connectors Term Loan C, 5.634%, 7/27/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">852</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">772,825</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Flextronics International Ltd. Delay Draw Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.046%, 10/01/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">223</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">201,451</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Flextronics International Ltd. Delay Draw Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.041%, 10/05/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">886</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">799,254</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Flextronics International Ltd. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.038</FONT><FONT size=2 face="sans-serif">% </FONT><FONT size=2 face="sans-serif">- 5.041%, 10/05/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,099</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,843,134</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Flextronics International Ltd. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.038% - 5.041%, 10/01/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">760</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">685,800</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5,747,702</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Energy Equipment &amp; Services -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Dresser, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">0.8%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.713% - 5.213%, 5/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,432</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,286,493</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">MEG Energy Corp. Term Loan B, 4.80%, 4/03/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">489</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">467,062</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Trinidad Energy Services Term Loan, 4.971%, 4/15/11</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,466</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,385,606</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5,139,161</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Food &amp; Staples Retailing - 2.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Advantage Sales &amp; Marketing Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.46% - 4.81%, 4/15/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">973</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">907,539</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Alliance Boots Plc Term Loan B, 8.1104%, 7/09/15</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">GBP</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">7,056,492</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Bolthouse Farms, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.063%, 11/29/12</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">975</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">939,656</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">DS Waters LP Term Loan B, 6.471%, 3/31/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">465,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Dole Food Co., Inc. Letter of Credit, 4.788%, 4/12/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">280</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">257,358</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Dole Food Co., Inc. Term Loan B, 4.75% - 6%, 4/12/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">521</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">479,747</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">9</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=center nowrap>
<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Dole Food Co., Inc. Term Loan C, 4.813% - 6%, 3/31/13</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,050</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,886,754</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sturm Foods, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.375%, 1/22/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,355</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,131,670</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sturm Foods, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.875%, 1/30/14 (c)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">417,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sturm Foods, Inc. Second Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.875%, 11/12/37</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">306,667</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">13,848,383</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Food Products - 1.1%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Eight O'Clock Coffee First Lien Term Loan, 5.25%, 7/21/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,813</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,740,696</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Michael Foods Term Loan B, 5.194% - 6.845%, 11/21/10</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,167</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,123,436</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">OSI Industries Term Loan B, 4.801%, 9/02/11</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,444</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,418,484</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">OSI Industries Term Loan B, 4.801%, 9/02/11</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,444</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,418,484</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">6,701,100</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Health Care Equipment &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Biomet, Inc. Term Loan B, 5.801%, 3/25/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,466</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">4,378,787</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Supplies - 1.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">ReAble Therapeutics Finance LLC Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.463%, 5/14/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,488</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,406,656</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Select Medical Term Loan B, 4.63% - 6%, 2/24/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">965</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">896,710</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,682,153</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Health Care Providers &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">CCS Medical First Lien Term Loan, 6.06%, 10/31/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">840</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">692,649</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Services - 2.3%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Community Health Systems, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.71% - 4.899%, 7/25/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">8,188</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">7,746,889</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Health Management Associates, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.71%, 1/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">886</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">817,587</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">HealthSouth Corp. Term Loan B, 5.29%, 3/12/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">801</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">754,144</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">PTS Cardinal Health Term Loan B, 7.205%, 11/19/37</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,980</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,717,871</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Surgical Care Affiliates Term Loan B, 5.051%, 12/26/14</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,987</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,748,961</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">14,478,101</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Health Care Technology - 0.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Misys Hospital Systems, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5.72% - 6.051%, 10/11/14</FONT>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,493</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,395,488</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Hotels, Restaurants &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Green Valley Ranch Gaming LLC Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Leisure - 2.4%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.644% - 4.801%, 1/29/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">476</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">374,906</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Green Valley Ranch Gaming LLC Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.894%, 8/30/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">870,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Harrah's Entertainment, Inc. Term Loan B2,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.80% - 5.801%, 1/29/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">698</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">618,201</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Harrah's Entertainment, Inc. Term Loan B3,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.80% - 5.801%, 1/29/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">810</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">714,270</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Harrah's Operating Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.80% - 5.801%, 1/31/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">554</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">489,063</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">MotorCity Casino Term Loan B, 4.808%, 7/21/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,665</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,523,562</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">OSI Restaurant Partners, Inc. Revolving Credit,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.846%, 5/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">39</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">32,432</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">OSI Restaurant Partners, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.125%, 5/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">403</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">334,868</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">10</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=center nowrap>
<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Penn National Gaming, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.21% - 4.55%, 10/03/12</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,046</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,873,930</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">QCE LLC First Lien Term Loan, 4.813%, 5/05/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,960</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,658,160</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Travelport, Inc. Standby Letter of Credit,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.051%, 8/31/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">29</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">24,249</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Travelport, Inc. Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">9.793%, 3/20/12 (c)</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">4,216</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,740,546</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Travelport, Inc. Term Loan B, 4.713%, 8/31/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">145</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">120,851</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Venetian Macau US Finance Co. LLC Delay Draw Term</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.06%, 4/11/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">362</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">347,879</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Venetian Macau US Finance Co.
    LLC Term Loan Revolving</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.06%, 5/26/11</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">638</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">614,442</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Wembley, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6.63% - 7.19%, 8/12/12</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">491</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">363,636</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">14,700,995</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Household Durables - 0.4%</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Berkline Corp. First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6.578%, 11/10/11 (i)</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">95</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4,735</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Jarden Corp. Term Loan B3, 5.301%, 1/24/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">995</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">915,377</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Visant Holding Corp. Term Loan C, 5.171%, 10/04/11</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">385</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">375,091</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Yankee Candle Co., Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.49% - 4.81%, 2/06/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">898,333</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,193,536</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Household Products - 0.2%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Central Garden &amp; Pet Term Loan B, 3.97%, 9/30/12</FONT>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,082</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">951,793</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">IT Services - 2.5%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Affiliated Computer Services Term Loan B, 4.46%, 3/20/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">732</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">707,484</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Amadeus Global Travel Distribution SA Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.45%, 6/30/13</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">307</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">407,506</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Amadeus Global Travel Distribution SA Term Loan B-4,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6.45%, 6/30/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">186</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">246,776</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Amadeus Global Travel Distribution SA Term Loan C,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.95%, 6/30/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">307</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">407,506</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Amadeus Global Travel Distribution SA Term Loan C-4,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6.95%, 6/30/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">186</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">246,776</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Audio Visual Services Corp. Second Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.31%, 9/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">890,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Ceridian Corp. Term Loan, 5.456%, 11/07/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,500</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,255,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">First Data Corp. Term Loan B, 5.211% - 5.551%, 9/24/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,701</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,401,767</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">First Data Corp. Term Loan B2, 5.403%, 9/24/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,250</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,148,829</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">First Data Corp. Term Loan B3, 5.403%, 9/24/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">850</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">780,634</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">RedPrairie Corp. First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">5.688% - 7%, 7/17/12</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">689</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">647,384</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">SunGard Data Systems, Inc. Term Loan B, 4.508%, 2/28/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,426</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,282,151</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Verifone, Inc. Term Loan B, 5.65%, 2/28/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">930</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">888,150</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">15,309,963</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Independent Power Producers</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">The AES Corp. Term Loan, 5.17% - 7%, 8/10/11</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">429</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">420,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Energy Traders - 1.7%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">TXU Corp. Term Loan B-2, 5.96% - 6.478%, 10/14/29</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,978</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,797,787</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TXU Corp. Term Loan B-3, 6.234% - 6.478%, 10/10/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">7,306</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">6,839,319</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">10,057,106</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">11</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;"><B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B> </TD>
  </TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=center nowrap>&nbsp;</TD>
  <TD width="10%" align=center nowrap>
<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD width="5%" align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width="10%" align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Industrial Conglomerates - 0.1%</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Trimas Corp. Letter of Credit, 4.803%, 8/02/11</FONT>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6"><FONT size=2 face="sans-serif">&#36;</FONT></TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif"> 94</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">83,906</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Trimas Corp. Term Loan B, 4.71% - 5.045%, 8/02/13</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">399</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">357,231</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">441,137</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>
<B><FONT size=2 face="sans-serif">Insurance - 0.3%</FONT></B>  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Conseco Term Loan B, 4.463%, 10/10/13</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">737</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">642,935</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Sedgwick Claims Management Service, Inc.</FONT>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Term Loan B, 5.051%, 3/03/13</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,070</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,013,807</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width="10%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,656,742</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Internet &amp; Catalog Retail - 0.2%</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">FTD Flowers Term Loan, 4.213%, 7/28/13</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">608</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">590,245</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Oriental Trading First Lien Term Loan,</FONT>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.72% - 4.90%, 7/31/13</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">956</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">778,822</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,369,067</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>
<B><FONT size=2 face="sans-serif">Leisure Equipment &amp; Products -</FONT></B>  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">24 Hour Fitness Term Loan B, 4.97%, 6/08/12</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">978</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">918,850</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">0.1%</FONT></B>  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width="10%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Life Sciences Tools &amp;</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Quintiles Transnational Term Loan B, 4.81%, 3/21/13</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">977</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">927,403</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Services - 0.2%</FONT></B>  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width="10%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Machinery - 1.5%</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Blount, Inc. US Term Loan B, 4.221%, 8/09/10</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">726</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">700,302</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lincoln Industrials Second Lien Term Loan,</FONT>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.21%, 12/18/14</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">1,380,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">NACCO Materials Handling Group Term Loan B,</FONT>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.463% - 6%, 3/21/13</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">490</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">436,100</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Navistar International Transportation Corp. Revolving</FONT>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Credit, 5.903% - 6.046%, 6/30/12</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">921,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=left bgcolor="#E6E6E6"><FONT size=2 face="sans-serif">Navistar International Transportation
    Corp. Term Loan,</FONT> </TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6.0463% - 6.292%, 6/30/12</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,750</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,533,438</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">OshKosh Truck Corp. Term Loan B,</FONT>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.21% - 4.43%, 11/30/13</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">2,444</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">2,225,340</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Standard Steel Delay Draw Term Loan,</FONT>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.97% - 6.50%, 6/21/12</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">83</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">75,075</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Standard Steel First Lien Term Loan,</FONT>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.31%, 6/21/12</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">408</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">371,583</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Wastequip Delay Draw Term Loan, 5.051%, 1/17/13</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">287</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">230,284</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Wastequip Term Loan B, 5.051%, 1/17/13</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">683</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">546,924</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">9,420,296</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>
<B><FONT size=2 face="sans-serif">Marine - 0.4%</FONT></B>  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Dockwise Shipping BV Term Loan B, 5.176%, 4/26/15</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">1,489</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">1,362,214</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Dockwise Shipping BV Term Loan C, 5.675%, 4/26/16</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,489</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,362,214</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width="10%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,724,428</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Media - 14.2%</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Acosta, Inc. Term Loan, 4.72%, 2/28/14</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">980</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">913,850</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Affinion Group, Inc. Term Loan, 9.267%, 1/31/12</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">405,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Affinion Group, Inc. Term Loan, 9.267%, 3/01/12</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">500</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">405,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Alix Partners Term Loan B, 4.79%, 10/30/13</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">1,446</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">1,359,277</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Atlantic Broadband Finance Term Loan B, 5.06%, 2/27/14</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">980</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">939,258</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Cablevision Systems Corp. Term Loan B, 4.206%, 3/23/13</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">2,910</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">2,754,193</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Catalina Marketing Group Term Loan, 5.801%, 10/01/14</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,977</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,781,459</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Cequel Communications LLC Term Loan B,</FONT>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.685% - 6%, 11/05/13</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="sans-serif">7,416</FONT>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=right nowrap>
<FONT size=2 face="sans-serif">6,875,070</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">12</FONT></P>

<HR NOSHADE ALIGN=center WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align=center nowrap>
    <B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Charter Communications, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.80%, 11/23/37</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,970</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,486,982</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Choice Cable Second Lien Term Loan, 10.313%, 1/28/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">692</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">553,846</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Cinemark Term Loan, 4.43% - 4.93%, 10/05/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,105</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>

  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,038,994</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Clarke American Corp. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.291% - 5.301%, 3/12/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,401</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,784,693</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">ClientLogic Holding Corp. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.963% - 6.50%, 1/30/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">967</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">832,423</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Dex Media West Term Loan B2, 7%, 10/22/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">2,250</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,119,219</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Discovery Communications Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.801%, 5/15/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,487</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,450,300</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Education Media and Publishing
    Second Lien Term Loan,</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">11.956%, 11/14/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">8,752</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">7,263,943</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Formula One Group Second Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.856%, 7/05/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">643</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">542,143</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Formula One Group Term Loan B, 4.856%, 12/31/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">911,667</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Formula One Group Term Loan B, 4.856%, 1/05/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">857</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">781,429</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">GateHouse Media Operating,
    Inc. Delay Draw Term Loan,</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.65% - 4.80%, 9/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">592</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">347,604</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">GateHouse Media Operating, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.65%, 9/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">587,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Getty Images, Inc. Term Loan, 7.25%, 6/30/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">750</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">743,438</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=left bgcolor="#E6E6E6"><FONT size=2 face="sans-serif">Gray Communications Systems,
    Inc. First Lien Delay Draw</FONT> </TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
  <TD align=center bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Term Loan, 4.29% - 5.25%, 9/18/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,800</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,527,820</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">HIT Entertainment Ltd. First Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.79%, 8/31/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">366</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">316,605</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">HIT Entertainment Ltd. Second Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">8.29%, 2/24/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">825,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Hanley-Wood LLC Term Loan B, 4.708% - 4.71%, 3/07/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,492</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,162,284</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Insight Midwest Holdings LLC Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.47%, 4/06/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,550</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,408,554</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Knology, Inc. First Lien Term Loan, 5.038%, 5/11/10</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">495</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">455,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Mediacom Communications Term Loan D,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.21% - 4.22%, 1/31/15</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,970</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,796,394</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Mediacom LLC Term Loan C, 4.21% - 4.22%, 1/31/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,945</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,772,723</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Metro-Goldwyn-Mayer Studios, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6.051%, 4/30/11</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,890</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,985,614</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Multicultural Radio Broadcasting Inc. Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.422%, 12/15/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">349</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">316,281</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">NTL Cable Plc Second Lien Term Loan, 8.267%, 7/17/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">GBP</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,000</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,462,834</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">NTL Cable Plc Term Loan, 8.147%, 11/19/37</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,256</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,226,425</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">NTL Cable Plc Term Loan B, 4.799%, 1/10/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">406</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">382,511</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">New Vision Television Term Loan B, 5.69%, 10/21/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">995</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">890,514</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">13</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align=center nowrap>
    <B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">New Wave Communications Delay Draw Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">5.881% - 7.75%, 6/30/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">237</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">223,076</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">New Wave Communications Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.881%, 6/30/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">933</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">877,373</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Newsday LLC Term Loan, 9.75%, 7/02/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,493,438</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Nexstar Broadcasting Group Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.416%, 10/01/12</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,892</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,712,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Nexstar Broadcasting Group Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.416%, 10/01/12</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,791</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,621,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Nielsen Finance LLC Term Loan B, 4.734%, 8/15/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,439</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,193,758</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">PanAmSat Corp. Term Loan B, 5.288%, 1/03/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">986</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">929,236</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">PanAmSat Corp. Term Loan B2, 5.288%, 1/03/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">986</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">929,516</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">PanAmSat Corp. Term Loan B2C, 5.288%, 1/03/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">986</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">929,236</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Penton Media Term Loan, 4.713% - 5.049%, 2/15/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,111</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">877,641</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Penton Media Term Loan, 7.799%, 2/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">690,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">ProSiebenSat 1 Media AG Mezzanine Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">7.02%, 6/28/17</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">432</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">180,428</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">ProSiebenSat 1 Media AG Second Lien Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6.77% - 8.145%, 12/28/16</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,432</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">782,019</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">ProSiebenSat 1 Media AG Term Loan B, 6.875%, 6/30/15</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">68</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">69,251</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">ProSiebenSat 1 Media AG Term Loan B, 7.107%, 6/30/16</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">68</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">69,251</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">San Juan Cable First Lien Term Loan, 9.47%, 10/26/12</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,687</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,472,249</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Thomson Learning, Inc. Term Loan B 2, 4.98%, 7/05/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,750</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,712,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">United Pan Europe Communications Term Loan M,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.437%, 11/19/37</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,413</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,933,606</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">United Pan Europe Communications Term Loan N,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.221%, 12/31/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,000</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,872,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Yell Group Plc Term Loan B, 6.467%, 4/30/11</FONT>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,080,929</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Yell Group Plc Term Loan B, 4.463%, 8/09/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">869,167</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">87,924,546</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Metals &amp; Mining - 0.1%</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Compass Minerals Group, Inc. Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3.97% - 6.59%, 12/22/12</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">780</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">751,224</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Multi-Utilities - 0.6%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Coleto Creek Letter of Credit, 5.551%, 7/31/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">127</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">115,074</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Coleto Creek Term Loan B, 5.551%, 7/31/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,807</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,632,758</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">MACH Gen LLC Letter of Credit, 4.801%, 2/22/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">70</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">67,184</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">MACH Gen LLC Term Loan, 4.638%, 2/22/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">668</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">638,736</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">NE Energy Letter of Credit, 5.313%, 10/03/13</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">159</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">150,081</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">NE Energy Term Loan B, 5.31%, 10/31/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,290</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,221,671</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3,825,504</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Multiline Retail - 0.3%</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Neiman Marcus Group, Inc. Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">4.422%, 4/06/13</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,940</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,807,853</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Oil, Gas &amp; Consumable Fuels -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Abbot Group Plc Bridge Loan, 17.276%, 3/15/18</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,940,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">1.2%</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Big West Oil &amp; Gas Delay Draw Term Loan,</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.458% - 4.463%, 5/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">550</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">500,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Big West Oil &amp; Gas Term Loan B,</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.463%, 5/15/14</FONT>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">440</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">400,400</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">14</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align="center">
    <B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD colspan="2" align="center" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">CR Gas Storage Bridge Loan, 4.843%, 5/08/11</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6"><FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif"> 29</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">26,721</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">CR Gas Storage Delay Draw Term Loan, 4.844%, 5/08/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">51</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">47,039</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">CR Gas Storage Term Loan, 4.534%, 5/08/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">455</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">420,745</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">CR Gas Storage Term Loan B, 4.411%, 5/08/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">75</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">69,442</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Coffeyville Resources LLC Letter of Credit,</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">5.641%, 12/21/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">243</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">225,203</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Coffeyville Resources LLC Term Loan D,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.541% - 6.75%, 12/28/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">787</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">728,969</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Drummond Oil Term Loan B, 4%, 2/15/12</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,425</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,382,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Western Refining Co. LP Term Loan B, 7.75%, 5/30/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">919</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">823,623</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,564,892</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Paper &amp; Forest Products - 1.9%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Boise Cascade Holdings LLC Second Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">7.50%, 2/05/15</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,247</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,240,900</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Georgia-Pacific Corp. First Lien Term Loan B,</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.399% - 4.551%, 2/14/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,411</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,273,785</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Georgia-Pacific Corp. Term Loan B,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.399% - 4.551%, 11/22/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,301,106</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Georgia-Pacific Corp. Term Loan B2,</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.446% - 4.551%, 3/08/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,481</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,340,114</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">NewPage Corp. Tem Loan B, 6.563%, 12/07/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,990</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,964,295</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Verso Paper Holdings LLC Term Loan B, 9.033%, 2/01/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">560</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">527,334</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">11,647,534</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Personal Products - 0.5%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">American Safety Razor Co. Second Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">8.72% - 8.89%, 1/25/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,365,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Bare Escentuals Beauty, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.71%, 2/18/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">340</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">330,889</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Prestige Brands Term Loan B1,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.713% - 5.043%, 10/06/10</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,142</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,110,396</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,806,285</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Real Estate Management &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Enclave Term Loan B, 6.14%, 3/01/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,616,759</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Development - 1.1%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Georgian Towers Term Loan, 6.14%, 3/01/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">2,556,966</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Pivotal Promontory Second Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">11.50%, 8/11/11 (g)(h)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">750</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">112,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Realogy Corp. Term Loan B, 5.459%, 9/22/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,485</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,209,038</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Yellowstone Club Term Loan B, 4.838%, 10/15/10</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">409</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">339,747</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">6,835,010</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Road &amp; Rail - 0.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Rail America, Inc. Term Loan, 6.79%, 6/23/09</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">91</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">90,744</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Rail America, Inc. Term Loan B, 6.79%, 6/23/09</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,409</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,398,234</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,488,978</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Semiconductors &amp;</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Marvell Technology Group Term Loan B,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Semiconductor Equipment -</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.963%, 11/08/09</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">731</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">695,281</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">0.1%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Software - 0.2%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Bankruptcy Management Solutions, Inc. First Lien Term</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Loan, 6.47%, 7/06/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">983</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">913,725</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">15</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD colspan="2" align="center">  &nbsp; &nbsp;<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Floating Rate Loan Interests</FONT></B>  </TD>
  <TD colspan="2" align="center" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">CCC Information Services, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">5.06%, 2/10/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6"><FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif"> 414</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">405,248</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,318,973</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Specialty Retail - 1.2%</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">ADESA, Inc. Term Loan B, 5.06%, 10/30/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,737</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,543,184</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=left><FONT size=2 face="sans-serif">Burlington Coat Factory Warehouse
    Corp. Term Loan B,</FONT> </TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.90%, 4/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">586</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">465,414</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Claire's Stores Term Loan B, 5.399% - 5.551%, 5/24/14</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,236</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">847,185</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Eye Care Centers of America, Inc. Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.97% - 5.96%, 3/01/12</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">656</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">623,052</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Orchard Supply Hardware Term Loan B, 4.908%, 12/21/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,500</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,260,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Petco Animal Supplies, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.713% - 5.051%, 3/22/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">394</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">358,737</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Rent-A-Center Term Loan B, 4.47% - 4.57%, 6/30/12</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">805</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">756,254</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Sensata Technologies Term Loan B,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.543% - 4.663%, 4/27/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,930</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,676,211</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,530,037</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Textiles, Apparel &amp; Luxury</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Hanesbrands, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Goods - 0.4%</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">4.545% - 4.551%, 10/15/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">960,556</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Renfro Corp. Term Loan B, 5.92% - 7.25%, 10/05/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">463</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">381,870</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">St. John Knits, Inc. Term Loan B, 5.461%, 8/24/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">660</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">613,973</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Warnaco, Inc. Term Loan, 4.114% - 5.50%, 1/31/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">295</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">276,344</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,232,743</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Trading Companies &amp;</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Beacon Sales Co. Term Loan B,</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Distributors - 0.2%</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">4.649% - 4.783%, 10/31/13</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,228</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,093,031</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<B><FONT size=2 face="sans-serif">Wireless Telecommunication</FONT></B>  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Cellular South Term Loan B, 3.983% - 5.75%, 5/16/14</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">1,485</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">1,414,701</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Services - 0.9%</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Centennial Cellular Operating Co. Term Loan,</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4.463% - 4.801%, 2/09/11</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">800</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">783,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Cricket Communications, Inc. Term Loan B,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">6.50%, 6/14/13</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">700</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">683,570</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">NG Wireless Delay Draw Term Loan, 6.75%, 11/12/37</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">140</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">133,356</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">NG Wireless First Lien Term Loan,</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">5.523% - 5.551%, 11/12/37</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">610</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">579,144</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">NTELOS Inc. Term Loan B, 5.27%, 8/14/11</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,687</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,644,617</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">5,238,388</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Total Floating Rate Loan Interests - 58.9%</FONT></B>  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">364,146,576</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">U.S. Government and Agency Obligations</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Fannie Mae, 7.25%, 1/15/10</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">17,000</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">18,030,302</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">U.S. Treasury Notes, 3.375%, 12/15/08 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">17,000</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">17,102,272</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">U.S. Treasury Notes, 3.875%, 5/15/09 (f)(l)</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6,000</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6,080,154</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=2%>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">U.S. Treasury Notes, 3.375%, 9/15/09 (f)</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="sans-serif">3,425</FONT>  </TD>
  <TD width=4%>&nbsp;  </TD>
  <TD width=2% align=left nowrap>&nbsp;  </TD>
  <TD width=12% align=right nowrap>
<FONT size=2 face="sans-serif">3,468,614</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">U.S. Treasury Notes, 4.25%, 8/15/15 (f)</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,815</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,894,548</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Total U.S. Government Obligations - 7.5%</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">46,575,890</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Common Stocks</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Shares</FONT></B></TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Capital Markets - 0.1%</FONT></B>  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">E*Trade Financial Corp. (g)</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">121,011</FONT>  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">365,453</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Total Common Stocks - 0.1%</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">365,453</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Preferred Stocks</FONT></B>  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Capital Markets - 0.0%</FONT></B>  </TD>
  <TD width=2% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Marsico Parent Superholdco, LLC, 16.75% (b)</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">177</FONT>  </TD>
  <TD width=4% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">152,220</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Total Preferred Stocks - 0.0%</FONT></B>  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=4% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=2% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=12% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">152,220</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">16</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=10%>&nbsp;</TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=2%>&nbsp;  </TD>
  <TD width=12% align=left nowrap>&nbsp;  </TD>
  <TD width="2%" align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD colspan="5" style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(Percentages shown are based on Net Assets)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Industry</FONT></B>  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Warrants (m)</FONT></B>  </TD>
  <TD align=center nowrap colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Shares</FONT></B>  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Value</FONT></B>  </TD>
  <TD width="2%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Machinery - 0.0%</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Synventive Molding Solutions (expires 1/15/13)</FONT>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">&#36;</FONT></TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">0</FONT>  </TD>
  <TD width="2%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Total Warrants - 0.0%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">0</FONT>  </TD>
  <TD width="2%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=center nowrap colspan=2>
<B><FONT size=2 face="sans-serif">Beneficial</FONT></B>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=center nowrap colspan=2>
<B><FONT size=2 face="sans-serif">Interest</FONT></B>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Other Interests (d)</FONT></B>  </TD>
  <TD align=center nowrap colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Health Care Providers &amp;</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Critical Care Systems International, Inc. (i)</FONT>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6"><FONT size=2 face="sans-serif">&#36;</FONT></TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">8</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,548</FONT>  </TD>
  <TD width="2%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Services - 0.0%</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Household Durables - 0.0%</FONT></B>  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Berkline Benchcraft Equity LLC (i)</FONT>  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">3</FONT>  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">0</FONT>  </TD>
  <TD width="2%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Total Other Interests - 0.0%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,548</FONT>  </TD>
  <TD width="2%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="sans-serif">Total Long-Term Investments</FONT></B>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(Cost - &#36;852,856,761) - 128.1%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">792,296,175</FONT> </TD>
  <TD align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
  <TD>&nbsp;  </TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=center nowrap>
<B><FONT size=2 face="sans-serif">Par</FONT></B>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Short-Term Securities</FONT></B>  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">U.S. Government Agency</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Federal Home Loan Bank, 1.82%, 8/01/08</FONT>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6,000</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6,000,000</FONT>  </TD>
  <TD width="2%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Obligation - 1.3%</FONT></B>  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Fannie Mae, 2.41%, 10/30/08</FONT>  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">2,000</FONT>  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,988,150</FONT>  </TD>
  <TD width="2%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Total Short-Term Securities</FONT></B>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(Cost - &#36;7,988,150) - 1.3%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7,988,150</FONT>  </TD>
  <TD width="2%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Options Purchased</FONT></B>  </TD>
  <TD align=right nowrap colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Contracts</FONT></B>  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Call Options</FONT></B>  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Marsico Parent Superholdco LLC, expiring December 2009</FONT>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">at &#36; 942.86</FONT>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">46</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">79,350</FONT>  </TD>
  <TD width="2%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="sans-serif">Total Options Purchased</FONT></B>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;  </TD>
  <TD width="12%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">(Cost - &#36;44,978) - 0.0%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="10%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">79,350</FONT>  </TD>
  <TD width="2%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Total Investments</FONT></B>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="12%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">(Cost - &#36;860,628,513*) - 129.4%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="2%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width="12%" align=right nowrap bgcolor="#E6E6E6"><FONT size=2 face="sans-serif">800,363,675</FONT> </TD>
  <TD width="2%" align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="sans-serif">Liabilities in Excess of Other Assets - (29.4)%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width="12%" align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">(181,713,612</FONT> </TD>
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">)</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="2%">&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="sans-serif">Net Assets - 100.0%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=right nowrap>&nbsp;</TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="2%" align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="sans-serif">&#36;</FONT></TD>
  <TD width="12%" align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="sans-serif">618,650,063</FONT> </TD>
  <TD width="2%" align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
</TR>
</TABLE>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD width="4%" valign=top nowrap>
<FONT size=2 face="sans-serif">*</FONT></TD>
  <TD>
<P align="left"><FONT size=2 face="sans-serif">The cost and unrealized appreciation
    (depreciation) of investments as of July 31, 2008, as computed for federal income tax purposes, were as follows:</FONT></P>
  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<div style="margin-left:30px">
  <table border=0 cellspacing=0 cellpadding=0>
    <tr valign="bottom">
      <td align=left nowrap bgcolor="#FFFFFF"><font size=2 face="sans-serif">Aggregate
          cost</font> </td>
      <td bgcolor="#FFFFFF">&nbsp;</td>
      <td align=left nowrap bgcolor="#FFFFFF" style="border-bottom:3px double #000000;"><font size=2 face="sans-serif">&#36;</font> </td>
      <td align=left nowrap bgcolor="#FFFFFF" style="border-bottom:3px double #000000;"><div align="right"><font size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;      860,756,043</font> </div></td>
      <td align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="sans-serif">Gross unrealized
          appreciation</font> </td>
      <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td align=left nowrap><font size=2 face="sans-serif">&#36;</font> </td>
      <td align=center nowrap><div align="right"><font size=2 face="sans-serif">5,368,032</font> </div></td>
      <td align=center nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap bgcolor="#FFFFFF"><font size=2 face="sans-serif">Gross unrealized
          depreciation</font> </td>
      <td bgcolor="#FFFFFF">&nbsp;</td>
      <td align=left nowrap bgcolor="#FFFFFF" style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap bgcolor="#FFFFFF" style="border-bottom:1px solid #000000;"><div align="right"><font size=2 face="sans-serif">(65,760,400</font> </div></td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="sans-serif">)</font></td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="sans-serif">Net unrealized
          depreciation</font> </td>
      <td>&nbsp;</td>
      <td align=left nowrap style="border-bottom:3px double #000000;"><font size=2 face="sans-serif">&#36;</font> </td>
      <td align=left nowrap style="border-bottom:3px double #000000;"><div align="right"><font size=2 face="sans-serif">(60,392,368</font> </div></td>
      <td align=left nowrap style="border-bottom:3px double #000000;"><font size=2 face="sans-serif">)</font></td>
    </tr>
  </table>
</div>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD width="4%" valign=top nowrap>
<FONT size=2 face="sans-serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD>
<P align="left"> <FONT size=2 face="sans-serif">Represents interest only portion
    of a mortgage-backed security and has either a nominal or</FONT>  <FONT size=2 face="sans-serif">notional amount of principal.</FONT> </P>
  </TD>
</TR><TR>
  <TD width="4%" valign=top nowrap>
<FONT size=2 face="sans-serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD>
<P align="left"> <FONT size=2 face="sans-serif">Security exempt from registration
    under Rule 144a of the Securities Act of 1933. These securities may be resold
    in</FONT>  <FONT size=2 face="sans-serif">transactions exempt from registration to qualified
  institutional investors. Unless otherwise indicated, these securities</FONT>    <FONT size=2 face="sans-serif">are considered to be liquid.</FONT> </P>
  </TD>
</TR><TR>
  <TD width="4%" valign=top nowrap>
<FONT size=2 face="sans-serif">(c)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD>
<P align="left"> <FONT size=2 face="sans-serif">Represents a pay-in-kind security
    which may pay interest/dividends in additional face/shares.</FONT> </P>
  </TD>
</TR>
<TR>
  <TD width="4%" valign=top nowrap>
<FONT size=2 face="sans-serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD>
<P align="left"> <FONT size=2 face="sans-serif">Other interests represent beneficial
    interest in liquidation trusts and other reorganization entities and are
    non-income producing.</FONT></P>
  </TD>
</TR>
<TR>
  <TD width="4%" valign=top nowrap>
<FONT size=2 face="sans-serif">(e)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD>
<P align="left"> <FONT size=2 face="sans-serif">Variable rate security. Rate
    shown is as of report date.</FONT> </P>
  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">17</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT face="sans-serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Schedule of Investments July 31, 2008 (Unaudited)</FONT></B>  </TD>
</TR>
</TABLE>
<BR>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD width="4%" valign=top nowrap>
<FONT size=2 face="sans-serif">(f)</FONT></TD>
  <TD>
<P align="left"><FONT size=2 face="sans-serif">All or a portion of security has
    been pledged as collateral in connection with reverse repurchase agreements.</FONT> <FONT size=2 face="sans-serif">Reverse
    repurchase agreements as of July 31,2008 were as follows:</FONT></P>
  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<br>
<div style="margin-left:33px">
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD colspan="13" align=left nowrap><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
  </TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=center nowrap>
<B><FONT size=2 face="sans-serif">Interest</FONT></B>  </TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=center nowrap>
<B><FONT size=2 face="sans-serif">Trade</FONT></B>  </TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=center nowrap>
<B><FONT size=2 face="sans-serif">Maturity</FONT></B>  </TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD colspan="2" align=center nowrap>
    <B><FONT size=2 face="sans-serif">Net Closing</FONT></B>  </TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD colspan="2" align=center nowrap><B><FONT size=2 face="sans-serif">Face</FONT></B></TD>
  </TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Counterparty</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Rate</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Date</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="sans-serif">Date</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">Amount</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">Amount</FONT></B>  </TD>
  </TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">2.50%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">6/05/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,960,743</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,945,125</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">3.00</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">6/25/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,286,802</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,280,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3.00</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6/25/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,186,504</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,180,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">3.00</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">6/25/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">5,150,320</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">5,135,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3.00</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6/25/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4,458,261</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">4,445,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">3.23611</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">6/25/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,809,061</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">2,800,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3.23611</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6/25/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,504,854</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,500,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">3.23611</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">6/25/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">5,337,216</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">5,320,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3.23718</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6/25/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,172,548</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,165,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Credit Suisse Securities LLC</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">2.75</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,594,064</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,585,870</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Lehman Brothers Inc.</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2.06</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">7/08/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,931,074</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1,928,438</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lehman Brothers Inc.</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">2.11</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">7/08/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">17,172,711</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">17,148,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Lehman Brothers Inc.</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2.11</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">7/08/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6,072,376</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">6,063,900</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lehman Brothers Inc.</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">2.11</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">7/08/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,515,532</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">3,510,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">0.75</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">758,855</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">759,330</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">1.00</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,017,966</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">1,018,815</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">1.50</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,501,648</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,498,525</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">2.75</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">4,391,917</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">4,381,875</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2.75</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,261,421</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">2,256,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">2.75</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">316,504</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">315,780</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3.50</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,856,215</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3,845,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">3.50</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">4,567,669</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="sans-serif">4,554,385</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">3.50</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">7/02/08</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">5,205,137</FONT>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">5,190,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Lehman Brothers International</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">0.75%</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">7/24/08</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">TBD</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,250,804</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">1,250,700</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Total</FONT></B>  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6" style="border-bottom:3px double #000000;">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6" style="border-bottom:3px double #000000;">
<FONT size=2 face="sans-serif">88,280,202</FONT>  </TD>
  <TD bgcolor="#E6E6E6" style="border-bottom:3px double #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:3px double #000000;">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD align=right nowrap bgcolor="#E6E6E6" style="border-bottom:3px double #000000;">
<FONT size=2 face="sans-serif">88,078,368</FONT>  </TD>
</TR>
</TABLE>
</div>
<BR>
<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="4%" align=left nowrap>
<FONT size=2 face="sans-serif">(g)</FONT></TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Non-income producing security.</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="4%" align=left nowrap>
<FONT size=2 face="sans-serif">(h)</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Issuer filed for bankruptcy or is in default of interest payments.</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="4%" align=left nowrap>
<FONT size=2 face="sans-serif">(i)</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Fair value security.</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="4%" align=left nowrap>
<FONT size=2 face="sans-serif">(j)</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Convertible security.</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="4%" align=left valign="top" nowrap>
<FONT size=2 face="sans-serif">(k)</FONT>  </TD>
  <TD align=left>
<FONT size=2 face="sans-serif">Represents or includes a "to-be-announced" transaction. The Trust has committed to purchasing securities for which
all specific information is not available at this time.</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="4%" align=left nowrap>
<FONT size=2 face="sans-serif">(l)</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">All or a portion of security held as collateral in connection with open financial futures contracts.</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="4%" align=left valign="top" nowrap>
<FONT size=2 face="sans-serif">(m)</FONT>  </TD>
  <TD align=left>
<FONT size=2 face="sans-serif">Warrants entitle the Trust to purchase a predetermined number of shares of common stock and are non-income
producing. The purchase price and number of shares are subject to adjustment under certain conditions until the
expiration date.</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">18</FONT></P>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



<P ALIGN="left" style="page-break-before:always"></P><PAGE>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap><B><FONT face="sans-serif">BlackRock Limited Duration
          Income Trust</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="sans-serif">Schedule
    of Investments July 31, 2008 (Unaudited)</FONT></B> </TD>
  </TR>
</TABLE>
<UL>
<LI>
<P align="left"><FONT size=2 face="sans-serif">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 ratings group indexes, and/or as defined by Trust management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease.</FONT></P>
</LI>
<LI>
  <P align="left"><FONT size=2 face="sans-serif">Swaps outstanding as of July 31, 2008 were as follows:</FONT></P>
</LI>
</UL>


<div style="margin-left:5%">
<TABLE width="75%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="8" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%">&nbsp;  </TD>
  <TD colspan="2" align=center nowrap><B><FONT size=2 face="sans-serif">Notional</FONT></B> </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD colspan="2" align=center nowrap><B><FONT size=2 face="sans-serif">Unrealized</FONT></B> </TD>
  <TD width="1%" align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%">&nbsp;  </TD>
  <TD colspan="2" align=center nowrap>
    <B><FONT size=2 face="sans-serif">Amount</FONT></B>  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD colspan="2" align=center nowrap>&nbsp;<B><FONT size=2 face="sans-serif">Appreciation</FONT></B> </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="sans-serif">(000)</FONT></B>  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="sans-serif">(Depreciation)</FONT></B> </TD>
  <TD width="1%" align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Sold credit default protection LCDX Index receive 5.25%</FONT>  </TD>
  <TD width="5%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="1%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="1%" align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Broker, UBS Warburg</FONT>  </TD>
  <TD width="5%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="1%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="1%" align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">Expires, June 2013</FONT>  </TD>
  <TD width="5%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">EUR</FONT>  </TD>
  <TD width="10%" align=right nowrap bgcolor="#E6E6E6"><FONT size=2 face="sans-serif">3,000</FONT>  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="1%" align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width="15%" align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="sans-serif">(86,982</FONT>  </TD>
  <TD width="1%" align=left nowrap bgcolor="#E6E6E6"><FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
  <TD align=left>
<FONT size=2 face="sans-serif">Bought credit default protection on LCDX.NA Index and pay
3.25%</FONT>  </TD>
  <TD width="5%">&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="1%" align=left nowrap>&nbsp;  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="sans-serif">Broker, UBS Warburg</FONT>  </TD>
  <TD width="5%">&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="4%">&nbsp;  </TD>
  <TD width="1%" align=left nowrap>&nbsp;  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">Expires, June 2013</FONT>  </TD>
  <TD width="5%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width="10%" align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">3,500</FONT>  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="15%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">35,080</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="sans-serif">Total</FONT></B>  </TD>
  <TD width="5%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="4%" bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width="1%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:3px double #000000;"><FONT size=2 face="sans-serif">&#36;</FONT>  </TD>
  <TD width="15%" align=right nowrap bgcolor="#E6E6E6" style="border-bottom:3px double #000000;">
<FONT size=2 face="sans-serif">(51,902</FONT>  </TD>
  <TD width="1%" align=left nowrap bgcolor="#E6E6E6" style="border-bottom:3px double #000000;"><FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
</TABLE>
</div>
<ul>
  <li>
    <FONT size=2 face="sans-serif">Financial futures contracts purchased as
    of July 31, 2008 were as follows:</FONT></li>
</ul>
<div style="margin-left:40px">
  <table border=0 cellspacing=0 cellpadding=0>
    <tr valign="bottom">
      <td align=left nowrap style="border-top:1px solid #000000">&nbsp;</td>
      <td style="border-top:1px solid #000000">&nbsp;</td>
      <td align=left nowrap style="border-top:1px solid #000000">&nbsp;</td>
      <td style="border-top:1px solid #000000">&nbsp;</td>
      <td align=center nowrap style="border-top:1px solid #000000"><b><font size=2 face="sans-serif">Expiration</font></b> </td>
      <td style="border-top:1px solid #000000">&nbsp;</td>
      <td colspan="5" align=left nowrap style="border-top:1px solid #000000"><div align="center"><b><font size=2 face="sans-serif">Face</font></b> </div></td>
      <td style="border-top:1px solid #000000">&nbsp;</td>
      <td colspan="2" align=left nowrap style="border-top:1px solid #000000"><div align="center"><b><font size=2 face="sans-serif">Unrealized</font></b> </div></td>
    </tr>
    <tr valign="bottom">
      <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="sans-serif">Contracts</font></b> </td>
      <td nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="sans-serif">Issue</font></b> </td>
      <td nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="sans-serif">Date</font></b> </td>
      <td nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td colspan="5" align=left nowrap style="border-bottom:1px solid #000000;"><div align="center"><b><font size=2 face="sans-serif">Value</font></b> </div></td>
      <td nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td align=left nowrap colspan=2 style="border-bottom:1px solid #000000;"><div align="center"><b><font size=2 face="sans-serif">Appreciation</font></b> </div></td>
    </tr>
    <tr valign="bottom">
      <td align=center nowrap><font size=2 face="sans-serif">67</font> </td>
      <td>&nbsp;</td>
      <td align=center nowrap><font size=2 face="sans-serif">5-Year
          U.S.</font> </td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=center nowrap style="border-bottom:1px solid #000000;"><font size=2 face="sans-serif">Treasury
          Bond</font> </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=center nowrap style="border-bottom:1px solid #000000;"><font size=2 face="sans-serif">September
          2008</font> </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="sans-serif">&#36;</font> </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="sans-serif">7,402,077</font> </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="sans-serif">&#36;</font> </td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face="sans-serif">57,431</font> </td>
    </tr>
  </table>
</div>
<BR>
<ul>
  <li>
    <FONT size=2 face="sans-serif">Forward foreign currency contracts as of
    July 31, 2008 were as follows:</FONT></li>
</ul>
<div style="margin-left:40px">
  <table border=0 cellspacing=0 cellpadding=0>
    <tr valign="bottom">
      <td colspan="11" align=left nowrap><div style="border-bottom:1px solid #000000"> &nbsp;</div></td>
    </tr>
    <tr valign="bottom">
      <td colspan="2" align=left nowrap><div align="center"><b><font size=2 face="sans-serif">Currency</font></b> </div></td>
      <td nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=center nowrap><b><font size=2 face="sans-serif">Currency</font></b> </td>
      <td>&nbsp;</td>
      <td align=center nowrap><b><font size=2 face="sans-serif">Settlement</font></b> </td>
      <td>&nbsp;</td>
      <td colspan="2" align=left nowrap><div align="center"><b><font size=2 face="sans-serif">Unrealized</font></b> </div></td>
    </tr>
    <tr valign="bottom">
      <td colspan="2" align=left nowrap style="border-bottom:1px solid #000000;"><div align="center"><b><font size=2 face="sans-serif">Purchased</font></b> </div></td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><div align="center"><b><font size=2 face="sans-serif">Sold</font></b> </div></td>
      <td nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="sans-serif">Date</font></b> </td>
      <td nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td colspan="2" align=left nowrap style="border-bottom:1px solid #000000;"><div align="center"><b><font size=2 face="sans-serif">Appreciation</font></b> </div></td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap bgcolor="#E6E6E6"><font size=2 face="sans-serif">&#36;</font> </td>
      <td align=left nowrap bgcolor="#E6E6E6">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face="sans-serif">30,303,553</font> </td>
      <td bgcolor="#E6E6E6">&nbsp;</td>
      <td align=left nowrap bgcolor="#E6E6E6"><font size=2 face="sans-serif">EUR</font> </td>
      <td nowrap bgcolor="#E6E6E6">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td align=left nowrap bgcolor="#E6E6E6"><div align="right"><font size=2 face="sans-serif">19,362,550</font> </div></td>
      <td bgcolor="#E6E6E6">&nbsp;</td>
      <td align=center nowrap bgcolor="#E6E6E6"><font size=2 face="sans-serif">10/23/08</font> </td>
      <td bgcolor="#E6E6E6">&nbsp;</td>
      <td align=left nowrap bgcolor="#E6E6E6"><font size=2 face="sans-serif">&#36;</font> </td>
      <td align=left nowrap bgcolor="#E6E6E6">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face="sans-serif">238,030</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="sans-serif">&#36;</font> </td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face="sans-serif">15,951,178</font> </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="sans-serif">GBP</font> </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=center nowrap style="border-bottom:1px solid #000000;"><div align="right"><font size=2 face="sans-serif">8,042,900</font> </div></td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=center nowrap style="border-bottom:1px solid #000000;"><font size=2 face="sans-serif">10/23/08</font> </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face="sans-serif">110,329</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap bgcolor="#E6E6E6"><b><font size=2 face="sans-serif">Total</font></b> </td>
      <td align=left nowrap bgcolor="#E6E6E6">&nbsp;</td>
      <td bgcolor="#E6E6E6">&nbsp;</td>
      <td align=left nowrap bgcolor="#E6E6E6">&nbsp;</td>
      <td bgcolor="#E6E6E6">&nbsp;</td>
      <td align=left nowrap bgcolor="#E6E6E6">&nbsp;</td>
      <td bgcolor="#E6E6E6">&nbsp;</td>
      <td align=left nowrap bgcolor="#E6E6E6">&nbsp;</td>
      <td bgcolor="#E6E6E6">&nbsp;</td>
      <td align=left nowrap bgcolor="#E6E6E6" style="border-bottom:3px double #000000;"><font size=2 face="sans-serif">&#36;</font> </td>
      <td align=left nowrap bgcolor="#E6E6E6" style="border-bottom:3px double #000000;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face="sans-serif">348,359</font> </td>
    </tr>
  </table>
</div>
<BR>
<ul>
  <li>
    <FONT size=2 face="sans-serif">Currency Abbreviations:</FONT></li>
</ul>
<div style="margin-left:40px">
  <table border=0 cellspacing=0 cellpadding=0>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="sans-serif">EUR</font> </td>
      <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td align=left nowrap><font size=2 face="sans-serif">Euro</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="sans-serif">GBP</font> </td>
      <td>&nbsp;</td>
      <td align=left nowrap><font size=2 face="sans-serif">British
          Pound</font> </td>
    </tr>
  </table>
</div>
<BR>
<P align="center"><FONT size=2 face="sans-serif">19</FONT></P>
<HR noshade width="100%" size=4>


<P STYLE="page-break-before:always"></P><PAGE>


<P align="left">
<FONT size=2 face="serif">Item 2 &#150; Controls and Procedures </FONT></P>
<div style="margin-left:50px;text-indent:-50px">
  <p align="left"><font size=2 face="serif">2(a) &#150; &nbsp;&nbsp;&nbsp;&nbsp;The
      registrant&#146;s principal executive and principal financial officers
      or persons performing similar functions have concluded that the registrant&#146;s
      disclosure controls and procedures (as defined in Rule 30a-3(c) under the
      Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;))
      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. </font></p>
  <p align="left"> <font size=2 face="serif">2(b) &#150; &nbsp;&nbsp;&nbsp;&nbsp;There
      were no changes in the registrant&#146;s internal control over financial
      reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred
      during the registrant&#146;s last fiscal quarter that have materially affected,
      or are reasonably likely to materially affect, the registrant&#146;s internal
      control over financial reporting. </font></p>
</div>
<P align="left"><FONT size=2 face="serif">Item 3 &#150; Exhibits </FONT></P>
<div style="margin-left:50px">
  <p align="left"><font size=2 face="serif">Certifications &#150; Attached hereto </font></p>
  <p align="left"> <font size=2 face="serif">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. </font></p>
  <p align="left"> <font size=2 face="serif">BlackRock Limited Duration Income
      Trust </font></p>
  <table border=0 cellspacing=0 cellpadding=0>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font> </td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">/s/
      Donald C. Burke</font></td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">Donald C. Burke</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">Chief Executive
          Officer of</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">BlackRock Limited
          Duration Income Trust&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font> </td>
    </tr>
    <tr>
      <td colspan=2>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">Date: September
          19, 2008</font> </td>
    </tr>
  </table>
  <br>
<div style="margin-left:35px">
<p align="left"> <font size=2 face="serif">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. </font></p></div>
  <table border=0 cellspacing=0 cellpadding=0>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font> </td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">/s/
      Donald C. Burke</font></td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">Donald C. Burke</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">Chief Executive
          Officer (principal executive officer) of</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">BlackRock Limited
          Duration Income Trust</font> </td>
    </tr>
    <tr>
      <td colspan=2>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">Date: September
          19, 2008</font> </td>
    </tr>
    <tr>
      <td colspan=2>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="serif">By:</font> </td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">/s/
      Neal J. Andrews</font></td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">Neal J. Andrews</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">Chief Financial
          Officer (principal financial officer) of</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">BlackRock Limited
          Duration Income Trust</font> </td>
    </tr>
    <tr>
      <td colspan=2>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">Date: September
          19, 2008</font> </td>
    </tr>
  </table>
</div>
<P align="left">&nbsp;</P>
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<TYPE>EX-99.CERT
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<FILENAME>c54724_ex99-cert.htm
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<div style="border-bottom:1px solid #000000"> <b><font size=2 face="serif">EX-99.
      CERT </font></b><br>
    <b><font size=2 face="serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER
    THE 1940 ACT AND SECTION 302<br>
OF THE SARBANES-OXLEY ACT OF 2002 </font></b></div>
<P align="left">
<FONT size=2 face="serif">I, Donald C. Burke, Chief Executive Officer (principal executive officer) of BlackRock Limited Duration Income Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock Limited Duration Income Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>
<P align="left">
<FONT size=2 face="serif">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant
as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P align="left">
<FONT size=2 face="serif">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in
Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<div style="margin-left:25px">
  <p align="left"><font size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed
      such disclosure controls and procedures, or caused such disclosure controls
      and procedures to be designed under our supervision, to ensure that material
      information relating to the registrant, including its consolidated subsidiaries,
      is made known to us by others within those entities, particularly during
      the period in which this report is being prepared; </font></p>
  <p align="left"> <font size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed
      such internal control over financial reporting, or caused such internal
      control over financial reporting to be designed under our supervision,
      to provide reasonable assurance regarding the reliability of financial
      reporting and the preparation of financial statements for external purposes
      in accordance with generally accepted accounting principles; </font></p>
  <p align="left"> <font size=2 face="serif">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated
      the effectiveness of the registrant's disclosure controls and procedures
      and presented in this report our conclusions about the effectiveness of
      the disclosure controls and procedures, as of a date within 90 days prior
      to the filing date of this report, based on such evaluation; and </font></p>
  <p align="left"> <font size=2 face="serif">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed
      in this report any change in the registrant's internal control over financial
      reporting that occurred during the registrant's most recent fiscal quarter
      that has materially affected, or is reasonably likely to materially affect,
      the registrant's internal control over financial reporting; and </font></p>
</div>
<P align="left"><FONT size=2 face="serif">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions): </FONT></P>
<div style="margin-left:25px">
  <font size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
      significant deficiencies and material weaknesses in the design or operation
      of internal control over financial reporting which are reasonably likely
      to adversely affect the registrant's ability to record, process, summarize,
      and report financial information; and </font>
  <p align="left"> <font size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
      fraud, whether or not material, that involves management or other employees
      who have a significant role in the registrant's internal control over financial
      reporting. </font></p>
</div>
<P align="left"><FONT size=2 face="serif">Date: September 19, 2008</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left nowrap STYLE="border-bottom:1px solid #000000"><FONT size=2 face="serif">/s/ Donald C. Burke</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=left nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
</TR>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>
<FONT size=2 face="serif">Donald C. Burke</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>
<FONT size=2 face="serif">Chief Executive Officer (principal executive officer) of</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>
<FONT size=2 face="serif">BlackRock Limited Duration Income Trust</FONT>  </TD>
  </TR>
</TABLE>
<BR>

<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>
<div style="border-bottom:1px solid #000000"> <b><font size=2 face="serif">EX-99.
      CERT </font></b><br>
    <b><font size=2 face="serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER
    THE 1940 ACT AND SECTION 302<br>
OF THE SARBANES-OXLEY ACT OF 2002 </font></b></div>
<P align="left">
<FONT size=2 face="serif">I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock Limited Duration Income Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock Limited Duration Income Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>
<P align="left">
<FONT size=2 face="serif">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant
as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P align="left">
<FONT size=2 face="serif">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in
Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<div style="margin-left:25px">
  <font size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed
      such disclosure controls and procedures, or caused such disclosure controls
      and procedures to be designed under our supervision, to ensure that material
      information relating to the registrant, including its consolidated subsidiaries,
      is made known to us by others within those entities, particularly during
      the period in which this report is being prepared; </font>
  <p align="left"> <font size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed
      such internal control over financial reporting, or caused such internal
      control over financial reporting to be designed under our supervision,
      to provide reasonable assurance regarding the reliability of financial
      reporting and the preparation of financial statements for external purposes
      in accordance with generally accepted accounting principles; </font></p>
  <p align="left"> <font size=2 face="serif">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated
      the effectiveness of the registrant's disclosure controls and procedures
      and presented in this report our conclusions about the effectiveness of
      the disclosure controls and procedures, as of a date within 90 days prior
      to the filing date of this report, based on such evaluation; and </font></p>
  <p align="left"> <font size=2 face="serif">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed
      in this report any change in the registrant's internal control over financial
      reporting that occurred during the registrant's most recent fiscal quarter
      that has materially affected, or is reasonably likely to materially affect,
      the registrant's internal control over financial reporting; and </font></p>
</div>
<P align="left"><FONT size=2 face="serif">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions): </FONT></P>
<div style="margin-left:25px">
  <font size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
      significant deficiencies and material weaknesses in the design or operation
      of internal control over financial reporting which are reasonably likely
      to adversely affect the registrant's ability to record, process, summarize,
      and report financial information; and </font>
  <p align="left"> <font size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
      fraud, whether or not material, that involves management or other employees
      who have a significant role in the registrant's internal control over financial
      reporting. </font></p>
</div>
<P align="left"><FONT size=2 face="serif">Date: September 19, 2008</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left nowrap STYLE="border-bottom:1px solid #000000"><FONT size=2 face="serif">/s/ Neal J. Andrews</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=left nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
</TR>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>
<FONT size=2 face="serif">Neal J. Andrews</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>
<FONT size=2 face="serif">Chief Financial Officer (principal financial officer) of</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>
<FONT size=2 face="serif">BlackRock Limited Duration Income Trust</FONT>  </TD>
  </TR>
</TABLE>
<BR>

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