<SEC-DOCUMENT>0000891092-12-005510.txt : 20120925
<SEC-HEADER>0000891092-12-005510.hdr.sgml : 20120925
<ACCEPTANCE-DATETIME>20120925154609
ACCESSION NUMBER:		0000891092-12-005510
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120731
FILED AS OF DATE:		20120925
DATE AS OF CHANGE:		20120925
EFFECTIVENESS DATE:		20120925

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST, INC.
		CENTRAL INDEX KEY:			0000894242
		IRS NUMBER:				133690436
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07354
		FILM NUMBER:		121108923

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-2257

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>e50005nq.htm
<DESCRIPTION>QUARTERLY REPORT
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-weight: normal; vertical-align: baseline">UNITED
STATES</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-weight: normal; vertical-align: baseline">SECURITIES
AND EXCHANGE COMMISSION </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-weight: normal; vertical-align: baseline">Washington,
D.C. 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>FORM N-Q</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>QUARTERLY SCHEDULE OF PORTFOLIO
HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Investment Company Act file number 811-07354</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: -0.5in">Name of Fund: BlackRock Investment
Quality Municipal Trust, Inc. (BKN)</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Fund Address: 100 Bellevue Parkway,
Wilmington, DE 19809</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Name and address of agent for service:
John M. Perlowski, Chief Executive Officer, BlackRock Investment Quality Municipal Trust, Inc., 55 East 52<SUP>nd</SUP> Street,
New York, NY 10055</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Registrant&rsquo;s telephone number,
including area code: (800) 882-0052, Option 4</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Date of fiscal year end: 04/30/2013</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Date of reporting period: 07/31/2012</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt">Item 1 &ndash; Schedule of Investments</P>

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<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR>
<TD STYLE="border-top: rgb(57,76,135) 4pt solid; width: 56%; font-size: 14pt; color: rgb(57,76,135)">Schedule of Investments <FONT STYLE="font-size: 10pt">July 31, 2012 (Unaudited)</FONT>
<TD STYLE="text-align: right; width: 44%; font: 8pt Arial, Helvetica, Sans-Serif; border-top: rgb(57,76,135) 4pt solid"><B><FONT color=#394c87>BlackRock Investment Quality Municipal Trust Inc. (BKN)<BR>(Percentages shown are based on Net Assets)</FONT></B></TD>
</TR>
</TABLE>

</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Alabama &#151; 3.4%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Birmingham Special Care Facilities</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Financing Authority, RB, Children's</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Hospital (AGC):</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt; width: 60%">
6.00%, 6/01/34</TD>
        <TD STYLE="text-align: right; width: 2%">&#36; </TD>
 <TD STYLE="text-align: right; width: 16%">1,745</TD>
        <TD STYLE="text-align: right; width: 4%">&#36; </TD>
 <TD STYLE="text-align: right; width: 18%">2,047,356</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
6.00%, 6/01/39</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
500</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
583,825</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Birmingham Water Works Board, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
4.75%, 1/01/36</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,150</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,410,946</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Hoover City Board of Education, GO,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Refunding, 4.25%, 2/15/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,050</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,246,146</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
9,288,273</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Arizona &#151; 7.8%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Apache County IDA, Refunding RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Tucson Electric Power Co., Series A,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
4.50%, 3/01/30</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
900</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
932,598</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Arizona Sports &amp; Tourism Authority, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Multipurpose Stadium Facilities,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Series A (NPFGC), 5.00%, 7/01/13 (a)</TD>
        <TD STYLE="text-align: right">
2,750</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,868,223</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Arizona State University, RB, Series D,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
5.50%, 7/01/26</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
475</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
578,479</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
County of Pinal Arizona Election District</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
No. 3, Refunding RB, 4.75%, 7/01/31</TD>
        <TD STYLE="text-align: right">
3,750</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,049,587</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Pima County IDA, Refunding IDRB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Tucson Electric Power, 5.75%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
9/01/29</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,375</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,462,216</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Salt Verde Financial Corp., RB, Senior:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.00%, 12/01/32</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,035</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,076,690</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.00%, 12/01/37</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
4,585</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,759,459</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
San Luis Facility Development Corp., RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Senior Lien, Regional Detention</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Center Project:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
6.25%, 5/01/15</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
305</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
303,252</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
7.00%, 5/01/20</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
490</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
498,869</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
7.25%, 5/01/27</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
980</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
938,448</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
State of Arizona, COP, Department of</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Administration, Series A (AGM),</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
5.00%, 10/01/29</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,100</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,223,629</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
University Medical Center Corp.</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Arizona, RB:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
6.00%, 7/01/39</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,600</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,826,352</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
6.50%, 7/01/39</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
750</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
869,160</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
21,386,962</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Arkansas &#151; 0.3%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
City of Conway Arkansas, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Wastewater Revenue Improvement,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.19pt">
Series A, 4.20%, 10/01/37</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
750</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
776,505</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">California &#151; 23.7%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
California County Tobacco Securitization</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Agency, RB, CAB, Stanislaus, Sub-</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Series C, 11.01%, 6/01/55 (b)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
7,090</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
72,034</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
California Educational Facilities</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Authority, RB, 5.00%, 2/01/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,342,720</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">California (concluded)</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
California Health Facilities Financing</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Authority, RB, Sutter Health, Series B,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt; width: 60%">
5.88%, 8/15/31</TD>
        <TD STYLE="text-align: center; width: 2%">&#36; </TD>
 <TD STYLE="text-align: right; width: 16%">2,300</TD>
        <TD STYLE="text-align: right; width: 4%">$</TD>
 <TD STYLE="text-align: right; width: 18%">2,778,308</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Carlsbad Unified School District, GO,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Election of 2006, Series B, 0.00%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
5/01/34 (c)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,180,785</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
City of San Jose California, Refunding</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
ARB, Series A-1, AMT, 5.75%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
3/01/34</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,448,650</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
County of Sacramento California, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Senior Series A (AGM), 5.00%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
7/01/41</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,100</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,279,823</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Dinuba Unified School District, GO,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Election of 2006 (AGM):</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
5.63%, 8/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
250</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
289,108</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
5.75%, 8/01/33</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
535</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
623,232</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Foothill Eastern Transportation Corridor</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Agency California, Refunding RB:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
5.75%, 1/15/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,495</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,496,747</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
CAB, 5.88%, 1/15/28</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
7,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
7,276,010</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Hartnell Community College District</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
California, GO, CAB, Election of 2002,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Series D, 0.00%, 8/01/34 (c)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,475</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,779,179</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Norwalk-La Mirada Unified School</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
District California, GO, Refunding,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
CAB, Election of 2002, Series E (AGC),</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
5.24%, 8/01/38 (b)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
12,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,125,280</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Palomar Community College District,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
GO, CAB, Election of 2006, Series B:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
4.67%, 8/01/30 (b)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,270</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
988,903</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
7.03%, 8/01/33 (b)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
4,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,225,233</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
0.00%, 3/01/39 (c)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,797,660</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
San Diego Community College District</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
California, GO, CAB, Election of 2002,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
0.00%, 8/01/19 (c)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
4,200</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,400,908</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
San Jose Evergreen Community College</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
District, GO, Election of 2010, Series</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
B, 3.50%, 8/01/32</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,800</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,836,612</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
State of California, GO, Various Purpose:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
5.75%, 4/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,542,670</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
6.00%, 3/01/33</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,270</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,796,277</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
6.50%, 4/01/33</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,900</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,622,274</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
5.50%, 3/01/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,650</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,190,017</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
(CIFG), 5.00%, 3/01/15 (a)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
515</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
576,290</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
(CIFG), 5.00%, 3/01/33</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
4,485</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,747,552</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
(NPFGC), 5.00%, 6/01/37</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
5,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
5,351,250</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
State of California, GO, Refunding,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Various Purpose (CIFG), 4.50%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
8/01/28</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,067,050</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
64,834,572</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Colorado &#151; 0.3%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Park Creek Metropolitan District,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, Senior Limited Property</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt; border-bottom: Black 1pt solid">
Tax (AGM), 6.00%, 12/01/38</TD>
        <TD STYLE="text-align: left; border-bottom: Black 1pt solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: Black 1pt solid">
750</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid">
873,270</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
</DIV>

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<TR>
<TD STYLE="border-top: rgb(57,76,135) 4pt solid; width: 56%; font-size: 14pt; color: rgb(57,76,135)">Schedule of Investments <FONT STYLE="font-size: 10pt">(continued)</FONT>
<TD STYLE="text-align: right; width: 44%; font: 8pt Arial, Helvetica, Sans-Serif; border-top: rgb(57,76,135) 4pt solid"><B><FONT color=#394c87>BlackRock Investment Quality Municipal Trust Inc. (BKN)<BR>(Percentages shown are based on Net Assets)</FONT></B></TD>
</TR>
</TABLE>

</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Connecticut &#151; 1.8%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Connecticut State Health &amp; Educational</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Facilities Authority, Refunding RB:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
Hartford Healthcare, Series A,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.59pt; width: 60%">
5.00%, 7/01/32</TD>
        <TD STYLE="text-align: right; width: 2%">&#36; </TD>
 <TD STYLE="text-align: right; width: 16%">2,140</TD>
        <TD STYLE="text-align: right; width: 4%">&#36; </TD>
 <TD STYLE="text-align: right; width: 18%">2,365,000</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
Lawrence &amp; Memorial</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.59pt">
Hospital, Series F, 5.00%, 7/01/36</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
950</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,042,283</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
Pomfret School Inc., Series B,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.59pt">
(AGM), 4.00%, 7/01/37</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
730</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
740,497</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
Sacred Heart University,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 20.42pt">
Series G, 5.38%, 7/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
600</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
666,570</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
4,814,350</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Delaware &#151; 0.7%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
County of Sussex Delaware, RB, NRG</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Energy, Inc., Indian River Project,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.19pt">
6.00%, 10/01/40</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
1,800</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
2,043,954</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">District of Columbia &#151; 1.4%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
District of Columbia Tobacco Settlement</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Financing Corp., Refunding RB, Asset-</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.19pt">
Backed, 6.50%, 5/15/33</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
3,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,819,235</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Florida &#151; 12.7%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
County of Lee Florida, Refunding RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Lee Airport, Series A, AMT (AGM),</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
5.00%, 10/01/28</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,294,840</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
County of Miami-Dade Florida, RB, CAB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Sub-Series A (NPFGC) (b):</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.31%, 10/01/32</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
4,225</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,468,906</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.33%, 10/01/32</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
5,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,730,550</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.34%, 10/01/33</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
4,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,309,400</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.36%, 10/01/33</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
15,375</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
5,018,554</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.41%, 10/01/34</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
4,580</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,403,953</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.42%, 10/01/35</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
5,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,446,850</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
County of Orange Florida, Refunding RB</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
(Syncora), 4.75%, 10/01/32</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
5,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
5,242,100</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Hillsborough County IDA, RB, National</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Gypsum Co., Series A, AMT, 7.13%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
4/01/30</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,700</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,702,442</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
JEA Water &amp; Sewer System Revenue,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
RB, Sub-Series B, 4.00%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 8.03pt">
10/01/43 (d)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,120</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,121,198</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Orange County Health Facilities</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Authority, Refunding RB, Mayflower</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Retirement Center, 5.00%, 6/01/32</TD>
        <TD STYLE="text-align: right">
200</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
205,448</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Sumter Landing Community</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Development District Florida, RB, Sub-</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Series B, 5.70%, 10/01/38</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,525</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,225,763</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Village Community Development District</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
No. 6, Special Assessment Bonds,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
5.63%, 5/01/22</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
5,575</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
5,620,715</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
34,790,719</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Georgia &#151; 1.7%</FONT></B></TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Chatham County Hospital Authority,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, Memorial Health</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
University Medical Center, Inc.,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 8.03pt; width: 60%">
Series A, (CNTY GTD) 4.00%, 1/01/34 &#36;</TD>
        <TD STYLE="text-align: left; width: 2%; text-indent: 5.63pt">$</TD>

 <TD STYLE="text-align: left; width: 16%; text-indent: 5.63pt">3,000</TD><TD STYLE="text-align: right; width: 4%">$</TD>
                                                                        <TD STYLE="text-align: right; width: 18%">3,042,300</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Milledgeville &amp; Baldwin County</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Development Authority, RB, Georgia</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
College &amp; State University Foundation,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
6.00%, 9/01/14 (a)</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,692,000</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
4,734,300</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Hawaii &#151; 0.2%</FONT></B></TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Hawaii State Department of Budget &amp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Finance, Refunding RB, Special</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Purpose - Kahala Nui, 5.25%,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.2pt">
11/15/37 (d)</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
600</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
628,632</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Idaho &#151; 1.1%</FONT></B></TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Idaho Health Facilities Authority,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, Trinity Health Group,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.2pt">
Series B, 6.25%, 12/01/33</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
2,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,000,475</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Illinois &#151; 12.7%</FONT></B></TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Chicago Public Building Commission</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Building Illinois, RB, Series A (NPFGC),</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
7.00%, 1/01/20 (e)</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
5,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
6,688,650</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Chicago Transit Authority, RB, Sales Tax</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Receipts Revenue, 5.25%, 12/01/40</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,140,830</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Illinois Finance Authority, RB:</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
MJH Education Assistance IV LLC,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
Sub-Series B, 5.38%, </TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
6/01/35 (f)(g)</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
700</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
69,979</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
Navistar International, Recovery</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
Zone, 6.50%, 10/15/40</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
795</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
821,935</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
Northwestern Memorial Hospital,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
Series A, 5.50%, 8/15/14 (a)</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
5,800</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
6,403,200</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
Roosevelt University Project,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
6.50%, 4/01/44</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,685,835</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
Rush University Medical Center,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
Series C, 6.63%, 11/01/39</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,200</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,482,456</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Illinois Finance Authority, Refunding RB:</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
Friendship Village Schaumburg,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
Series A, 5.63%, 2/15/37</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
345</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
346,445</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
OSF Healthcare System,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.36pt">
Series A, 6.00%, 5/15/39</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,510</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,736,455</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Madison-Macoupin ETC County&#146;s</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Community College District No. 536,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Refunding GO, Lewis &amp; Clark</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Community College, 3.13%,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 8.03pt">
5/01/28 (d)</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
715</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
691,998</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Metropolitan Pier &amp; Exposition Authority,</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, McCormick Place</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Project, Series B, 4.25%, 6/15/42</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,845</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,950,330</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
</DIV>

<!-- Field: Page; Sequence: 3 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align="left">

<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR>
<TD STYLE="border-top: rgb(57,76,135) 4pt solid; width: 56%; font-size: 14pt; color: rgb(57,76,135)">Schedule of Investments <FONT STYLE="font-size: 10pt">(continued)</FONT>
<TD STYLE="text-align: right; width: 44%; font: 8pt Arial, Helvetica, Sans-Serif; border-top: rgb(57,76,135) 4pt solid"><B><FONT color=#394c87>BlackRock Investment Quality Municipal Trust Inc. (BKN)<BR>(Percentages shown are based on Net Assets)</FONT></B></TD>
</TR>
</TABLE>

</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Illinois (concluded)</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Railsplitter Tobacco Settlement</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Authority, RB:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt; width: 60%">
6.25%, 6/01/24</TD>
        <TD STYLE="text-align: right; width: 2%">&#36; </TD>
        <TD STYLE="text-align: right; width: 16%">6,000</TD>
        <TD STYLE="text-align: right; width: 4%">&#36; </TD>
        <TD STYLE="text-align: right; width: 18%">6,765,300</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
6.00%, 6/01/28</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,700</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,978,307</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
34,761,720</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Indiana &#151; 0.5%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Indiana Finance Authority, Refunding</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
RB, Improvement, U.S. Steel Corp.,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.19pt">
6.00%, 12/01/26</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
1,350</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,409,832</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Iowa &#151; 1.6%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Iowa Higher Education Loan Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
RB, Private College Facility, Buena</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Vista University Project, 5.00%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
4/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,480</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,647,003</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Iowa Higher Education Loan Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB, Private College Facility:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.75%, 9/01/30</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
965</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,056,202</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
6.00%, 9/01/39</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,638,570</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
4,341,775</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Kansas &#151; 0.5%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Kansas Development Finance Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB, Sisters of Leavenworth,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.19pt">
Series A, 5.00%, 1/01/28</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
1,155</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,301,824</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Kentucky &#151; 3.0%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Kentucky Economic Development</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Finance Authority, Refunding RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Norton Healthcare, Inc., Series B</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
(NPFGC), 4.31%, 10/01/23 (b)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
8,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
5,278,075</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Louisville &amp; Jefferson County</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Metropolitan Government, Refunding</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
RB, Jewish Hospital &amp; St. Mary's</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
HealthCare, 6.13%, 2/01/18 (a)</TD>
        <TD STYLE="text-align: right">
2,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
2,871,000</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
8,149,075</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Louisiana &#151; 0.9%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Louisiana Local Government</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Environmental Facilities &amp; Community</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Development Authority, RB, Westlake</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Chemical Corp., Series A-1, 6.50%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
11/01/35</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,565</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,812,959</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Louisiana Public Facilities Authority, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Belle Chasse Educational Foundation</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Project, 6.50%, 5/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
600</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
683,160</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
2,496,119</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Maryland &#151; 1.7%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Maryland EDC, Refunding RB, CNX</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Marine Terminals Inc., 5.75%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
9/01/25</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
180</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
194,845</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>

<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: left; text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Maryland (concluded)</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Maryland Health &amp; Higher Educational</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Facilities Authority, Refunding RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Doctor's Community Hospital, 5.63%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt; width: 60%">
7/01/30</TD>
        <TD STYLE="text-align: center; width: 2%">&#36; </TD>
        <TD STYLE="text-align: right; width: 16%">4,100</TD>
        <TD STYLE="text-align: right; width: 4%; border-bottom: #000000 1px solid">$</TD>
        <TD STYLE="text-align: right; width: 18%; border-bottom: #000000 1px solid">4,418,324</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
4,613,169</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Michigan &#151; 2.8%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Board of Control of Michigan</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Technological University, Refunding</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
RB, General, Series A, 4.00%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
10/01/30</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
1,930</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,005,965</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Michigan State Building Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, Facilities Program,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Series I, 6.25%, 10/15/38</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
1,875</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,195,025</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Royal Oak Hospital Finance Authority</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Michigan, Refunding RB, William</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Beaumont Hospital, 8.25%, 9/01/39</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
2,750</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,547,252</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
7,748,242</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Minnesota &#151; 2.3%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
City of Minneapolis Minnesota,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, Fairview Health</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Services, Series B (AGC), 6.50%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
11/15/38</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
2,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,696,737</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
City of Rochester Minnesota, RB, Health</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Care Facilities (Mayo Clinic), 4.00%,</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
11/15/41</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
2,050</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,132,533</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Tobacco Securitization Authority</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Minnesota, Refunding RB, Tobacco</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Settlement, 5.25%, 3/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
1,200</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,349,916</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
6,179,186</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Mississippi &#151; 3.4%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Mississippi Development Bank, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Hinds Community College District,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Capital Improvement Project (AGM),</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
5.00%, 4/01/36</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
1,910</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,120,998</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Mississippi Development Bank Special</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Obligation, RB, Jackson County</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Limited Tax Note (AGC), 5.50%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
7/01/32</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
2,655</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,025,824</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
University of Southern Mississippi, RB,</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Campus Facilities Improvements</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Project, 5.38%, 9/01/36</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
3,150</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,585,361</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Warren County Mississippi, RB, Gulf</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Opportunity Zone Bonds (International</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Paper Company Project), Series A,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
AMT, 5.38%, 12/01/35</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 9.72pt">
600</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
652,488</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
9,384,671</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Missouri &#151; 0.5%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Missouri State Development Finance</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Board, RB, St. Joseph Sewage System</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Improvements, 5.25%, 5/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 9.72pt">
620</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
664,764</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
</DIV>

<!-- Field: Page; Sequence: 4 -->
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<DIV align="left">

<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR>
<TD STYLE="border-top: rgb(57,76,135) 4pt solid; width: 56%; font-size: 14pt; color: rgb(57,76,135)">Schedule of Investments <FONT STYLE="font-size: 10pt">(continued)</FONT>
<TD STYLE="text-align: right; width: 44%; font: 8pt Arial, Helvetica, Sans-Serif; border-top: rgb(57,76,135) 4pt solid"><B><FONT color=#394c87>BlackRock Investment Quality Municipal Trust Inc. (BKN)<BR>(Percentages shown are based on Net Assets)</FONT></B></TD>
</TR>
</TABLE>

</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Missouri (concluded)</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Missouri State Health &amp; Educational</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Facilities Authority, RB, A.T. Still</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
University Health Sciences, 5.25%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt; width: 60%">
10/01/31</TD>
        <TD STYLE="text-align: left; width: 2%; vertical-align: top">$ </TD>
        <TD STYLE="text-align: center; width: 16%">500</TD>
        <TD STYLE="text-align: right; width: 4%; border-bottom: #000000 1px solid">$</TD>
        <TD STYLE="text-align: right; width: 18%; border-bottom: #000000 1px solid">565,155</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,229,919</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Montana &#151; 0.5%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Montana Facility Finance Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB, Sisters of Leavenworth,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.19pt">
Series A, 4.75%, 1/01/40</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
1,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,358,062</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Nebraska &#151; 2.2%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Central Plains Energy Project Nebraska,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
RB, Gas Project No. 3:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.25%, 9/01/37</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
765</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
811,764</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.00%, 9/01/42</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
900</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
925,821</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Nebraska Investment Finance Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB, Series A, 6.05%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
9/01/41</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,180</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,253,420</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Omaha Nebraska Sanitation Sewer</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Revenue, RB, 4.25%, 11/15/38</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,840</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,035,449</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
6,026,454</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Nevada &#151; 0.4%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
County of Clark Nevada, Refunding RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Alexander Dawson School Nevada</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.19pt">
Project, 5.00%, 5/15/29</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
1,065</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,118,080</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">New Jersey &#151; 6.1%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Middlesex County Improvement</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Authority, RB, Subordinate, Heldrich</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Center Hotel, Series B, 6.25%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
1/01/37 (f)(g)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,510</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
113,235</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
New Jersey EDA, RB, Cigarette Tax,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
5.75%, 6/15/14 (a)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
5,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
5,781,037</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
New Jersey Educational Facilities</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Authority, Refunding RB, University of</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Medicine &amp; Dentistry, Series B:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
7.13%, 12/01/23</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
950</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,190,578</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
7.50%, 12/01/32</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,225</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,534,827</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
New Jersey Health Care Facilities</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Financing Authority, Refunding RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Barnabas Health, Series A:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
4.63%, 7/01/23</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
770</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
807,838</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.63%, 7/01/37</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,560</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,785,203</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
New Jersey State Housing &amp; Mortgage</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Finance Agency, RB, Series AA,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
6.50%, 10/01/38</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
705</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
752,912</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
New Jersey Transportation Trust Fund</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Authority, RB, Transportation System,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Series B, 5.25%, 6/15/36</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,860</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,295,321</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Union County Utilities Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
County Deficiency Agreement,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21pt">
Series A, 4.00%, 6/15/32</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
250</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
268,695</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">New Jersey (concluded)</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Union County Utilities Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB (concluded):</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
New Jersey Solid Waste</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
System, County Deficiency</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 21.6pt">
Agreement, Series A, 5.00%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt; width: 60%">
6/15/41</TD>
        <TD STYLE="text-align: left; width: 2%; vertical-align: top">&#36; </TD>
        <TD STYLE="text-align: right; width: 16%">95</TD>
        <TD STYLE="text-align: right; width: 4%; border-bottom: #000000 1px solid">&#36; </TD>
        <TD STYLE="text-align: right; width: 18%; border-bottom: #000000 1px solid">108,904</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
16,638,550</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">New York &#151; 6.0%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Albany Industrial Development Agency,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
RB, New Covenant Charter School</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Project, Series A, 7.00%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
5/01/35 (f)(g)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
725</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
163,118</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Hudson New York Yards Infrastructure</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Corp., RB, Series A:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
5.00%, 2/15/47</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
250</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
263,675</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
(AGM), 5.00%, 2/15/47</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,326,963</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
(NPFGC), 4.50%, 2/15/47</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,980</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,035,598</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
(NPFGC), 5.00%, 2/15/47</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,582,050</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Long Island Power Authority, Refunding</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
RB, Series A, 5.75%, 4/01/39</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,475</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,888,251</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
New York City Industrial Development</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Agency, RB:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
American Airlines Inc., JFK</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
International Airport, AMT,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
7.63%, 8/01/25 (f)(g)(h)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,600</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,741,102</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 14.4pt">
Queens Baseball Stadium, PILOT,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 21.6pt">
(AGC), 6.50%, 1/01/46</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
300</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
354,336</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
New York Liberty Development Corp.,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, Second Priority, Bank</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
of America Tower at One Bryant Park</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Project, 6.38%, 7/15/49</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,425,812</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
New York State Dormitory Authority, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Rochester Institute of Technology,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
6.00%, 7/01/33</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,625</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,917,354</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Westchester County Healthcare Corp.</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
New York, Refunding RB, Senior Lien,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
5.00%, 11/01/30</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,600</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,761,584</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
16,459,843</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">North Carolina &#151; 6.0%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
City of Charlotte North Carolina, Refunding</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
RB, Series A, 5.50%, 7/01/34</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
325</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
377,644</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Gaston County Industrial Facilities &amp; Pollution</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Control Financing Authority North Carolina,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
RB, Exempt Facilities, National Gypsum Co.</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Project, AMT, 5.75%, 8/01/35</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,425</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,190,769</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
North Carolina Capital Facilities Finance</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Agency, RB, Duke Energy Carolinas Project,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Series B, 4.38%, 10/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,385</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,490,260</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
North Carolina Capital Facilities Finance</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Agency, Refunding RB, Duke Energy</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Carolinas Project, Series B, 4.63%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
11/01/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
9,650</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
10,321,640</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
</DIV>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-bottom: 6pt; border-top: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><TR><TD NOWRAP STYLE="text-align: left; width: 33%">BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.</TD><TD STYLE="text-align: center; width: 34%">JULY 31, 2012</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR>
<TD STYLE="border-top: rgb(57,76,135) 4pt solid; width: 56%; font-size: 14pt; color: rgb(57,76,135)">Schedule of Investments <FONT STYLE="font-size: 10pt">(continued)</FONT>
<TD STYLE="text-align: right; width: 44%; font: 8pt Arial, Helvetica, Sans-Serif; border-top: rgb(57,76,135) 4pt solid"><B><FONT color=#394c87>BlackRock Investment Quality Municipal Trust Inc. (BKN)<BR>(Percentages shown are based on Net Assets)</FONT></B></TD>
</TR>
</TABLE>

</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">North Carolina (concluded)</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
North Carolina Medical Care</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Commission, Refunding RB, University</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Health System, Series D, 6.25%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt; width: 60%">
12/01/33</TD>
        <TD STYLE="text-align: center; width: 2%">&#36; </TD>
        <TD STYLE="text-align: right; width: 16%">1,750 </TD>
        <TD STYLE="text-align: right; width: 4%; border-bottom: #000000 1px solid">$</TD>
        <TD STYLE="text-align: right; width: 18%; border-bottom: #000000 1px solid">2,055,900</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
16,436,213</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">North Dakota &#151; 1.4%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
City of Fargo North Dakota, Refunding</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
RB, University Facilities Development</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Foundation Project:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
3.00%, 12/01/30</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
600</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
588,342</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
4.00%, 12/01/36</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
900</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
945,081</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
City of Grand Forks North Dakota,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB, 5.00%, 12/01/32</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,120</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
2,297,423</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,830,846</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Ohio &#151; 0.8%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
City of Marion, GO, Various Purpose,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
(AGM):</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
4.00%, 12/01/30</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
360</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
364,241</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
4.00%, 12/01/33</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
360</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
361,796</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Kent State University, RB, General</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Receipts, Series A, 5.00%, 5/01/42</TD>
        <TD STYLE="text-align: right">
1,200</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,352,832</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
2,078,869</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Oregon &#151; 3.2%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
City of Tigard Washington County</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Oregon, Refunding RB, Water System,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
5.00%, 8/01/42</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,400</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,620,696</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Oregon Health &amp; Science University, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Series A, 5.75%, 7/01/39</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,445,500</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Oregon Health &amp; Science University,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB, Series A, 3.00%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
7/01/24</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,023,850</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Oregon State Facilities Authority, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
5.00%, 7/01/44</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
900</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
966,186</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Oregon State Facilities Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB, Limited College Project,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Series A:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.00%, 10/01/34</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,150</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,266,403</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
5.25%, 10/01/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
500</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
554,540</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
8,877,175</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Pennsylvania &#151; 3.0%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
County of Allegheny Pennsylvania IDA,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB, U.S. Steel Corp.</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Project, 6.55%, 12/01/27</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,535</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,759,880</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Delaware River Port Authority, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Series D (AGM), 5.00%, 1/01/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,640</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,006,329</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
McKeesport Area School District, GO,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
CAB (NPFGC) (b):</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
3.09%, 10/01/31 (e)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
500</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
277,795</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
4.56%, 10/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,435</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,026,085</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
8,070,089</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR>
        <TD COLSPAN="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Puerto Rico &#151; 1.3%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Puerto Rico Sales Tax Financing Corp., RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt; width: 60%">
First Sub-Series A, 5.75%, 8/01/37</TD>
        <TD STYLE="text-align: center; width: 2%">&#36; </TD>
        <TD STYLE="text-align: right; width: 16%">1,500 </TD>
        <TD STYLE="text-align: right; width: 4%">$</TD>
        <TD STYLE="text-align: right; width: 18%">1,678,305</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Puerto Rico Sales Tax Financing Corp., RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
CAB, Series A, 5.57%, 8/01/35 (b)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.63pt">
1,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
282,770</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Puerto Rico Sales Tax Financing Corp.,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, CAB, Series A (NPFGC),</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
5.55%, 8/01/41 (b)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.63pt">
7,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,532,700</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,493,775</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Rhode Island &#151; 3.4%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Rhode Island Health &amp; Educational Building</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Corp., RB, Hospital Financing, LifeSpan</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Obligation, Series A (AGC), 7.00%, 5/15/39</TD>
        <TD STYLE="text-align: right; text-indent: 5.64pt">
3,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,622,530</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Rhode Island Health &amp; Educational Building</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Corp., Refunding RB, Rhode Island School</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
of Design, 3.50%, 6/01/29</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.63pt">
4,205</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,171,023</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
State of Rhode Island, COP, Series C, School</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
for the Deaf (AGC), 5.38%, 4/01/28</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.63pt">
1,330</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,512,636</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
9,306,189</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">South Carolina &#151; 3.7%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
South Carolina Jobs-EDA, Refunding RB:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Palmetto Health Alliance, Series A,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
6.25%, 8/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.63pt">
2,185</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,361,898</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Palmetto Health, Series C, 6.88%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.39pt">
8/01/13 (a)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.63pt">
3,560</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,795,209</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
South Carolina State Housing Finance &amp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Development Authority, Refunding RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Series A-2, AMT (AMBAC), 5.15%, </TD>
        <TD STYLE="text-align: right; text-indent: 5.64pt">
</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
</TD>
</TR>
<TR STYLE="vertical-align: bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">7/01/37</TD>
        <TD STYLE="text-align: right; text-indent: 5.64pt">
3,790</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,989,354</TD></TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
10,146,461</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Tennessee &#151; 1.6%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Memphis-Shelby County Sports Authority, Inc.,</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, Memphis Arena Project,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Series A:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
5.25%, 11/01/27</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.64pt">
1,135</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,283,095</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
5.38%, 11/01/28</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.64pt">
1,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,127,960</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Shelby County Health Educational &amp; Housing</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Facilities Board, RB, Methodist Le Bonheur</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Healthcare, 5.00%, 5/01/42</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.63pt">
1,800</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,950,084</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
4,361,139</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Texas &#151; 7.4%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Harris County Health Facilities Development</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Corp., Refunding RB, Memorial Hermann</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Healthcare System, Series B:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
7.13%, 12/01/31</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 5.64pt">
1,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,215,030</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14.4pt">
7.25%, 12/01/35</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right; text-indent: 3pt">
2,650</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,218,345</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
</DIV>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align="left">

<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR>
<TD STYLE="border-top: rgb(57,76,135) 4pt solid; width: 56%; font-size: 14pt; color: rgb(57,76,135)">Schedule of Investments <FONT STYLE="font-size: 10pt">(continued)</FONT>
<TD STYLE="text-align: right; width: 44%; font: 8pt Arial, Helvetica, Sans-Serif; border-top: rgb(57,76,135) 4pt solid"><B><FONT color=#394c87>BlackRock Investment Quality Municipal Trust Inc. (BKN)<BR>(Percentages shown are based on Net Assets)</FONT></B></TD>
</TR>
</TABLE>

</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Texas (concluded)</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Harris County Metropolitan Transit Authority</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Sales and Use Tax, RB, </TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt; width: 60%">
Series A, 5.00%, 11/01/36</TD>
        <TD STYLE="width: 2%; text-align: right">&#36; </TD>
        <TD STYLE="width: 16%; text-align: right">600</TD>
        <TD STYLE="text-align: right; width: 4%">$</TD>
        <TD STYLE="text-align: right; width: 18%">691,560</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Harris County-Houston Sports Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Refunding RB, CAB, Senior Lien, </TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">Series A&nbsp;(NPFGC), 5.95%, </TD>
        <TD STYLE="text-align: left">&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt"> 11/15/38 (b)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
5,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,071,050</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Love Field Airport Modernization Corp., RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Southwest Airlines Co. Project, </TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
5.25%, 11/01/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,445</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,559,184</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Lower Colorado River Authority, Refunding RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Series A (NPFGC), 5.00%, 5/15/13 (a)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
5</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
5,189</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Matagorda County Navigation District No. 1</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Texas, Refunding RB, Central Power &amp; Light</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Co. Project, Series A, 6.30%, 11/01/29</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,200</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,555,366</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Texas Private Activity Bond Surface</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Transportation Corp., RB, Senior Lien, LBJ</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Infrastructure Group LLC, LBJ Freeway</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Managed Lanes Project, 7.00%, 6/30/40</TD>
        <TD STYLE="text-align: right">
3,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,662,400</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Texas State Turnpike Authority, RB (AMBAC):</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14pt">
CAB, 5.96%, 8/15/31 (b)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
15,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,903,050</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 14pt">
First Tier, Series A, 5.00%, 8/15/42</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,250,325</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
20,131,499</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Vermont &#151; 2.9%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
University of Vermont &amp; State Agricultural</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
College, Refunding RB, Series A (GO OF</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
UNIVERSITY), 4.00%, 10/01/38 (d)</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,600</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,642,516</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Vermont Educational &amp; Health Buildings</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Financing Agency, RB, Hospital, Fletcher</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
Allen Health, Series A, 4.75%, 12/01/36</TD>
        <TD STYLE="text-align: right">
2,695</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,757,308</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Vermont Educational &amp; Health Buildings</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Financing Agency, Refunding RB, St.</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
Michaels College, 5.00%, 10/01/42</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,350</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,487,889</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
7,887,713</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Virginia &#151; 0.8%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Virginia Small Business Financing Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.19pt">
RB, Senior Lien, Elizabeth River Crossing</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.19pt">
OPCO LLC Project, AMT, 5.50%, 1/01/42</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
1,870</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
2,060,665</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Washington &#151; 1.3%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
City of Lynnwood, GO, 4.00%, 12/01/37</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,200</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
1,245,276</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Washington Healthcare Facilities Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
RB, MultiCare Health System, Series B</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.19pt">
(AGC), 6.00%, 8/15/39</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
2,100</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
2,426,991</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
3,672,267</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>Par</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
&nbsp;</TD>
        <TD STYLE="text-align: center">
<B>(000)</B></TD>
        <TD COLSPAN="2" STYLE="text-align: center">
<B>Value</B></TD>
</TR>
<TR>
        <TD COLSPAN="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt">
<B>Municipal Bonds</B></TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">West Virginia &#151; 0.7%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
West Virginia State University, RB, West</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Virginia University Projects, Series B,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.2pt; width: 60%">
5.00%, 10/01/36</TD>
        <TD STYLE="text-align: center; width: 2%; border-bottom: #000000 1px solid">&#36; </TD>
        <TD STYLE="text-align: right; width: 16%; border-bottom: #000000 1px solid">1,650 </TD>
        <TD STYLE="text-align: right; width: 4%; border-bottom: #000000 1px solid">$</TD>
        <TD STYLE="text-align: right; width: 18%; border-bottom: #000000 1px solid">1,911,261</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Wisconsin &#151; 0.7%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Wisconsin State Health &amp; Educational</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Facilities Authority, Refunding RB, Series C,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.2pt">
5.00%, 8/15/32</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
1,800</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
1,993,104</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Wyoming &#151; 0.8%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
County of Sweetwater Wyoming, Refunding</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
RB, Idaho Power Co. Project, 5.25%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.2pt">
7/15/26</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
1,800</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
2,055,168</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: Black 2pt solid; text-indent: 0pt">
<B>Total Municipal Bonds &#150; 139.2%</B></TD>
        <TD STYLE="text-align: left; border-bottom: Black 2pt solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: Black 2pt solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 2pt solid">
380,520,201</TD>
</TR>
<TR>
        <TD COLSPAN="5">
&nbsp;</TD>
</TR>
<TR>
        <TD COLSPAN="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="5" STYLE="text-align: left; border-bottom: #000000 1px solid; border-top: rgb(57,76,135) 4pt solid; padding-bottom: 6pt">
<B>Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (i)</B></TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
<B><FONT color="#000080">Colorado &#151; 2.1%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
Colorado Health Facilities Authority, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Catholic Health, Series C-7 (AGM), </TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.2pt">
5.00%, 9/01/36</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
5,250</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
5,614,350</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Massachusetts &#151; 1.3%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Massachusetts Water Resources Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
Refunding RB, General, Series A, </TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.2pt">
5.00%, 8/01/41</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
3,070</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,453,842</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">Michigan &#151; 2.3%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Michigan State Hospital Finance Authority,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid; text-indent: 7.2pt">
Refunding RB, 4.00%, 12/01/32</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: right; border-bottom: #000000 1px solid">
6,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
6,232,320</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 0pt">
<B><FONT color="#000080">New York &#151; 6.3%</FONT></B></TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
Hudson New York Yards Infrastructure Corp.,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Senior RB, Senior, Series A, </TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
5.75%,2/15/47</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
1,750</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
2,050,949</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
New York City Municipal Water Finance</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Authority, RB, Water &amp; Sewer System,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Series A, 5.75%, 6/15/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
690</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
831,649</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left">
New York City Municipal Water Finance</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
Authority, Refunding RB:</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
&nbsp;&nbsp;Water &amp; Sewer System, Second</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
&nbsp;&nbsp;&nbsp;&nbsp;Generation Resolution, Series</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
&nbsp;&nbsp;&nbsp;&nbsp;FF-2, 5.50%, 6/15/40</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
810</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
953,915</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
&nbsp;&nbsp;Water &amp; Sewer System, Series A,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 6/15/30</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
4,000</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
4,482,480</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
New York Liberty Development Corp.,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
RB, 5.25%, 12/15/43</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
4,500</TD>
        <TD COLSPAN="2" STYLE="text-align: right">
5,190,525</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left">
New York State Dormitory Authority, RB,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD COLSPAN="2" STYLE="text-align: left; text-indent: 7.2pt">
New York University, Series A, 5.00%,</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; text-indent: 7.2pt">
7/01/38</TD>
        <TD STYLE="text-align: left">
&nbsp;</TD>
        <TD STYLE="text-align: right">
3,359</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
3,711,204</TD>
</TR>
<TR valign="bottom">
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD STYLE="text-align: left; border-bottom: #000000 1px solid">
&nbsp;</TD>
        <TD COLSPAN="2" STYLE="text-align: right; border-bottom: #000000 1px solid">
17,220,722</TD>
</TR>
</TABLE>
</DIV>
</DIV>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-bottom: 6pt; border-top: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><TR><TD NOWRAP STYLE="text-align: left; width: 33%">BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.</TD><TD STYLE="text-align: center; width: 34%">JULY 31, 2012</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<TR>
<TD STYLE="border-top: rgb(57,76,135) 4pt solid; width: 56%; font-size: 14pt; color: rgb(57,76,135)">Schedule of Investments <FONT STYLE="font-size: 10pt">(continued)</FONT>
<TD STYLE="text-align: right; width: 44%; font: 8pt Arial, Helvetica, Sans-Serif; border-top: rgb(57,76,135) 4pt solid"><B><FONT color=#394c87>BlackRock Investment Quality Municipal Trust Inc. (BKN)<BR>(Percentages shown are based on Net Assets)</FONT></B></TD>
</TR>
</TABLE>

</DIV>

<P style="MARGIN: 0px">&nbsp;</P>

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<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">



<TR vAlign=bottom>

   <TD STYLE="text-align: center">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: center"><B>Par</B></TD>

   <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: center">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: center"><B>(000)</B></TD>

   <TD COLSPAN="2" STYLE="text-align: center"><B>Value</B></TD></TR>

<TR vAlign=bottom>

   <TD COLSPAN="5" STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt"><B>Municipal Bonds
   Transferred to Tender Option Bond (TOB) Trusts (i)</B></TD></TR>



<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B><FONT color=#000080>Ohio &#8212; 1.7%</FONT></B></TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">County of Montgomery Ohio, RB,</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 7.19pt; text-align: left">Catholic Health, Series C-1 (AGM),</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 7.19pt; text-align: left; width: 60%">5.00%, 10/01/41</TD>

   <TD STYLE="width: 2%">$</TD>

   <TD STYLE="width: 16%; text-align: right"> 1,740 </TD>
   <TD STYLE="text-align: right; width: 4%">$</TD>
   <TD STYLE="text-align: right; width: 18%">1,927,685</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Ohio Higher Educational Facility</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 7.19pt; text-align: left">Commission, Refunding RB, Hospital,</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 7.19pt; text-align: left">Cleveland Clinic Health, Series A,</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 7.19pt; text-align: left">5.25%, 1/01/33</TD>

   <TD COLSPAN="2" STYLE="text-align: right">2,600</TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: right">2,861,716</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: right">4,789,401</TD></TR>

<TR vAlign=bottom>

   <TD COLSPAN="3" STYLE="text-align: left"><B>Total Municipal Bonds Transferred to Tender</B></TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: left"><B>Option Bond (TOB) Trusts &#8211; 13.7%</B></TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: right">37,310,635</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Total Long-Term Investments</B></TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="border-bottom: Black 2pt solid; text-align: left"><B>(Cost &#8211; $377,988,233) &#8211; 152.9%</B></TD>

   <TD COLSPAN="2" STYLE="border-bottom: Black 2pt solid; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="border-bottom: Black 2pt solid; text-align: right">417,830,836</TD></TR>

<TR>

   <TD COLSPAN="5">&nbsp;</TD></TR>

<TR>
	<TD COLSPAN="5" STYLE="border-bottom: #6297CC 6pt solid">
&nbsp;</TD>
</TR>



<TR>

   <TD COLSPAN="5">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: center"><B>Shares</B></TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="5">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left; border-bottom: #000000 1px solid; padding-bottom: 6pt"><B>Short-Term Securities</B></TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">FFI Institutional Tax-Exempt Fund,</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="border-bottom: #000000 1px solid; text-indent: 7.19pt; text-align: left">0.01%, (j)(k)</TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: right">1,604,231</TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: right">1,604,231</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Total Short-Term Securities</B></TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: left"><B>(Cost &#8211; $1,604,231) &#8211; 0.6%</B></TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: right">1,604,231</TD></TR>

<TR vAlign=bottom>

   <TD COLSPAN="3" STYLE="text-align: left; padding-bottom: 6pt"><B>Total Investments (Cost - $379,592,464*) &#8211; 153.5%</B></TD>

   <TD COLSPAN="2" STYLE="text-align: right">419,435,067</TD></TR>


<TR vAlign=bottom>

   <TD COLSPAN="3" STYLE="text-align: left; padding-bottom: 6pt"><B>Liabilities in Excess of Other Assets &#8211; (0.3)%</B></TD>

   <TD COLSPAN="2" STYLE="text-align: right">(839,065)</TD></TR>

<TR vAlign=bottom>

   <TD COLSPAN="3" STYLE="text-align: left"><B>Liability for TOB Trust Certificates, Including</B> <B>Interest</B></TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD COLSPAN="3" STYLE="text-align: left; padding-bottom: 6pt"><B> &nbsp;&nbsp;&nbsp;&nbsp;Expense and Fees Payable &#8211; (7.1)%</B></TD>

   <TD COLSPAN="2" STYLE="text-align: right">(19,392,024)</TD></TR>


<TR vAlign=bottom>

   <TD COLSPAN="3" STYLE="text-align: left; padding-bottom: 6pt"><B>VMTP Shares, at Liquidation Value &#8211; (46.1)%</B></TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: right">(125,900,000)</TD></TR>



<TR vAlign=bottom>

   <TD STYLE="text-align: left; padding-bottom: 6pt"><B>Net Assets &#8211; 100.0%</B></TD>

   <TD STYLE="text-align: right"></TD>
   <TD STYLE="text-align: right"></TD>
   <TD STYLE="border-bottom: Black 2px solid; text-align: right">$</TD>
   <TD STYLE="border-bottom: Black 2px solid; text-align: right">273,303,978</TD></TR>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="text-align: left; padding-bottom: 0pt; border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR vAlign=bottom>

   <TD COLSPAN="5" STYLE="text-align: left">* &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of July 31, 2012, gross unrealized appreciation and gross unrealized
   depreciation based on cost for federal income tax</TD></TR>

<TR vAlign=bottom>

   <TD COLSPAN="5" STYLE="text-indent: 22pt; text-align: left">purposes were as follows:</TD></TR>


<TR vAlign=bottom>

   <TD STYLE="text-indent: 22pt; text-align: left">Tax Cost</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>
   <TD STYLE="text-align: right">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 2px solid; text-align: right">$</TD>
   <TD STYLE="border-bottom: Black 2px solid; text-align: right"> 360,595,290</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 22pt; text-align: left">Gross unrealized appreciation</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>
   <TD STYLE="text-align: right">&nbsp;</TD>
   <TD STYLE="text-align: right">$</TD>
   <TD STYLE="text-align: right"> 43,520,708</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 22pt; text-align: left">Gross unrealized depreciation</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">&nbsp;</TD>
   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">(4,064,427)</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 22pt; text-align: left">Net unrealized appreciation</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>
   <TD STYLE="text-align: right">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 2px solid; text-align: right">$</TD>
   <TD STYLE="border-bottom: Black 2px solid; text-align: right"> 39,456,281</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(a)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">US
                                                                              government securities, held in escrow, are used
                                                                              to pay interest on this security, as well as to
                                                                              retire the bond in full at the date indicated, typically
                                                                              at a premium to par.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(b)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Represents
                                                                              a zero-coupon bond. Rate shown reflects the current
                                                                              yield as of report date.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(c)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Represents
                                                                              a step-up bond that pays an initial coupon rate
                                                                              for the first period and then a higher coupon rate
                                                                              for the following periods. Rate shown is as of report
                                                                              date.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(d)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">When-issued
                                                                              security. Unsettled when-issued transactions were
                                                                              as follows:</FONT></TD>
</TR></TABLE>

<P></P>

<DIV align=left>

<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">



<TR vAlign=bottom>

   <TD STYLE="text-align: left; border-top: Black 1pt solid">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: center; border-top: Black 1pt solid">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: center; border-top: Black 1pt solid"><B>Unrealized</B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: center"><B>Appreciation</B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: left"><B>Counterparty</B></TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: center"><B>Value</B></TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: center"><B>(Depreciation)</B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left; width: 40%">Pershing LLC</TD>

   <TD STYLE="width: 5%; text-align: right">$</TD>

   <TD STYLE="width: 25%; text-align: right"> 628,632 </TD>
   <TD STYLE="text-align: right; width: 5%">$</TD>
   <TD STYLE="text-align: right; width: 25%">19,176</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">JPMorgan Chase &amp; Co.</TD>

   <TD STYLE="text-align: right">$</TD>
   <TD STYLE="text-align: right"> 1,121,198 </TD>

   <TD STYLE="text-align: right">$</TD>
   <TD STYLE="text-align: right">(2,252)</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Stifel Nicolaus &amp; Co</TD>

   <TD STYLE="text-align: right">$</TD>
   <TD STYLE="text-align: right"> 691,998 </TD>

   <TD STYLE="text-align: right">$</TD>
   <TD STYLE="text-align: right">(6,843)</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: left">Citigroup Inc.</TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">$</TD>
   <TD STYLE="border-bottom: #000000 1px solid; text-align: right"> 3,642,516 </TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">$</TD>
   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">156,240</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(e)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Security
                                                                              is collateralized by Municipal or US Treasury obligations.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(f)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Issuer
                                                                              filed for bankruptcy and/or is in default of principal
                                                                              and/or interest payments.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(g)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Non-income
                                                                              producing security.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(h)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Variable
                                                                              rate security. Rate shown is as of report date.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(i)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Securities
                                                                              represent bonds transferred to a TOB in exchange
                                                                              for which the Trust acquired residual interest certificates.
                                                                              These securities serve as collateral in a financing
                                                                              transaction.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(j)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Investments
                                                                              in companies considered to be an affiliate of the
                                                                              Trust during the period, for purposes of Section
                                                                              2(a)(3) of the Investment Company Act of 1940, as
                                                                              amended, were as follows:</FONT></TD>
</TR></TABLE>

<DIV align=left>

<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">



<TR vAlign=bottom>

   <TD STYLE="text-align: left; text-align: center; border-top: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: center; border-top: Black 1pt solid"><B>Shares</B></TD>

   <TD STYLE="text-align: center; border-top: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: center; border-top: Black 1pt solid"><B>Shares</B></TD>

   <TD COLSPAN="2" STYLE="text-align: center; border-top: Black 1pt solid">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left; text-align: center">&nbsp;</TD>

   <TD STYLE="text-align: center"><B>Held at</B></TD>

   <TD STYLE="text-align: center"><B>Net</B></TD>

   <TD STYLE="text-align: center"><B>Held at</B></TD>

   <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: left; text-align: left"><B>Affiliate</B></TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: center"><B>April 30, 2012</B></TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: center"><B>Activity</B></TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: center"><B>July 31, 2012</B></TD>

   <TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; text-align: center"><B>Income</B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">FFI Institutional</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 7.2pt; text-align: left">Tax-Exempt</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="border-bottom: #000000 1px solid; text-indent: 7.2pt; text-align: left; width: 22%">Fund</TD>

   <TD STYLE="border-bottom: #000000 1px solid; width: 22%; text-align: center">4,510,968</TD>

   <TD STYLE="border-bottom: #000000 1px solid; width: 18%; text-align: center">(2,906,737)</TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: center; width: 24%">1,604,231</TD>

   <TD STYLE="width: 6%; border-bottom: #000000 1px solid">$</TD>
   <TD STYLE="width: 5%; border-bottom: #000000 1px solid">354</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(k)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Represents
                                                                              the current yield as of report date.</FONT></TD>
</TR></TABLE>

<P style="MARGIN: 0px">&nbsp;</P>

<P STYLE="text-align: left; color: rgb(57,76,135); border-top: rgb(57,76,165) 2pt solid; border-bottom: rgb(57,76,165) 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: rgb(227,227,239); padding-left: 12pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Portfolio
Abbreviations</B></FONT></P>

<P style="TEXT-ALIGN: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">To simplify the listings of portfolio holdings
in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following
list:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0>



<TR vAlign=bottom>

   <TD width="21%" align=left>AGC</TD>

   <TD width="78%" align=left>Assured Guaranty Corp.</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>AGM</TD>

   <TD width="78%" align=left>Assured Guaranty Municipal Corp.</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>AMBAC</TD>

   <TD width="78%" align=left>American Municipal Bond Assurance Corp.</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>AMT</TD>

   <TD width="78%" align=left>Alternative Minimum Tax (subject to)</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>ARB</TD>

   <TD width="78%" align=left>Airport Revenue Bonds</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>CAB</TD>

   <TD width="78%" align=left>Capital Appreciation Bonds</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>CIFG</TD>

   <TD width="78%" align=left>CDC IXIS Financial Guaranty</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>CNTY GTD</TD>

   <TD width="78%" align=left>County Guaranteed</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>COP</TD>

   <TD width="78%" align=left>Certificates of Participation</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>EDA</TD>

   <TD width="78%" align=left>Economic Development Authority</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>EDC</TD>

   <TD width="78%" align=left>Economic Development Corp.</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>GO</TD>

   <TD width="78%" align=left>General Obligation Bonds</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>IDA</TD>

   <TD width="78%" align=left>Industrial Development Authority</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>IDRB</TD>

   <TD width="78%" align=left>Industrial Development Revenue Bonds</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>NPFGC</TD>

   <TD width="78%" align=left>National Public Finance Guarantee Corp.</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>PILOT</TD>

   <TD width="78%" align=left>Payment in Lieu of Taxes</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>RB</TD>

   <TD width="78%" align=left>Revenue Bonds</TD></TR>

<TR vAlign=bottom>

   <TD width="21%" align=left>Syncora</TD>

   <TD width="78%" align=left>Syncora Guarantee</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-bottom: 6pt; border-top: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><TR><TD NOWRAP STYLE="text-align: left; width: 33%">BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.</TD><TD STYLE="text-align: center; width: 34%">JULY 31, 2012</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<DIV align=left>

<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">
<TR>
<TD STYLE="border-top: rgb(57,76,135) 4pt solid; width: 56%; font-size: 14pt; color: rgb(57,76,135)">Schedule of Investments <FONT STYLE="font-size: 10pt">(concluded)</FONT>
<TD STYLE="text-align: right; width: 44%; font: 8pt Arial, Helvetica, Sans-Serif; border-top: rgb(57,76,135) 4pt solid"><B><FONT color=#394c87>BlackRock Investment Quality Municipal Trust Inc. (BKN)</FONT></B></TD>
</TR>
</TABLE>

</DIV>

<P style="MARGIN: 0px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#8226;</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Fair
                                                                                    Value Measurements - Various inputs are used
                                                                                    in determining the fair value of investments.
                                                                                    These inputs to valuation techniques are categorized
                                                                                    into a disclosure hierarchy consisting of
                                                                                    three broad levels for financial reporting
                                                                                    purposes as follows:</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#8226;</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Level
                                                                                   1 &#8212; unadjusted price quotations in active
                                                                                   markets/exchanges for identical assets and
                                                                                   liabilities</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#8226;</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Level
                                                                                   2 &#8212; other observable inputs (including,
                                                                                   but not limited to: quoted prices for similar
                                                                                   assets or liabilities in markets that are active,
                                                                                   quoted prices for identical or similar assets
                                                                                   or liabilities in markets that are not active,
                                                                                   inputs other than quoted prices that are observable
                                                                                   for the assets or liabilities (such as interest
                                                                                   rates, yield curves, volatilities, prepayment
                                                                                   speeds, loss severities, credit risks and default
                                                                                   rates) or other market-corroborated inputs)</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#8226;</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Level
                                                                                   3 &#8212; unobservable inputs based on the
                                                                                   best information available in the circumstances,
                                                                                   to the extent observable inputs are not available
                                                                                   (including the Trust&#8217;s own assumptions
                                                                                   used in determining the fair value of investments)</FONT></TD>
</TR></TABLE>

<P style="TEXT-ALIGN: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Changes in valuation techniques may result
in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust's policy, transfers
between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting
period. The categorization of a value determined for investments is based on the pricing transparency of the investment and is
not necessarily an indication of the risks associated with investing in those securities. For information about the Trust&#8217;s
policy regarding valuation of investments and other significant accounting policies, please refer to the Trust&#8217;s most recent
financial statements as contained in its annual report.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The following table summarizes the Trust's
investments categorized in the disclosure hierarchy as of July 31, 2012:</FONT></P>

<DIV align=left>

<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">



<TR vAlign=bottom>

   <TD STYLE="border-bottom: Black 1px solid; border-top: Black 1pt solid; text-align: center">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1px solid; border-top: Black 1pt solid; text-align: center"><B>Level 1</B></TD>

   <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1px solid; text-align: center"><B>Level 2</B></TD>

   <TD STYLE="border-bottom: Black 1px solid; border-top: Black 1pt solid; text-align: center"><B>Level 3</B></TD>

   <TD STYLE="border-bottom: Black 1px solid; border-top: Black 1pt solid; text-align: center"><B>Total</B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Assets:</B></TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Investments:</B></TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 10.91pt; text-align: left">Long-Term</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 13.31pt; text-align: left">Investments<SUP>1</SUP></TD>

   <TD STYLE="text-align: right">&#8212;</TD>

   <TD STYLE="text-align: right">$ 417,830,836</TD>
   <TD STYLE="text-align: right">&#8212;</TD>

   <TD STYLE="text-align: right">$ 417,830,836</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 10.91pt; text-align: left">Short-Term</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 13.31pt; text-align: left; width: 20%">Securities</TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right; width: 20%">$ 1,604,231</TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right; width: 20%">&#8212;</TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-indent: 26.4pt; text-align: right; width: 20%">&#8212;</TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right; width: 20%">1,604,231</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Total</B></TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">$ 1,604,231</TD>
   <TD STYLE="border-bottom: #000000 1px solid; text-align: right"> $ 417,830,836</TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-indent: 26.4pt; text-align: right">&#8212; </TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">$ 419,435,067</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px"></P>

<P style="TEXT-ALIGN: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><SUP>1</SUP>See above Schedule of Investments
for values in each state or political subdivision.</FONT></P>

<P STYLE="text-align: left; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Certain of the Trust&#8217;s
liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of July 31, 2012,
such liabilities are categorized within the disclosure hierarchy as follows:</FONT></P>

<DIV align=left>

<TABLE BORDER="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial">



<TR vAlign=bottom>

   <TD STYLE="border-bottom: Black 1px solid; border-top: Black 1pt solid; text-align: left; width: 20%">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1px solid; border-top: Black 1pt solid; text-align: center; width: 20%"><B>Level 1</B></TD>


   <TD STYLE="border-bottom: Black 1px solid; border-top: Black 1pt solid; text-align: center; width: 20%"><B>Level 2</B></TD>

   <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1px solid; text-align: center; width: 20%"><B>Level 3</B></TD>

   <TD STYLE="border-bottom: Black 1px solid; border-top: Black 1pt solid; width: 20%; text-align: center"><B>Total</B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Liabilities:</B></TD>

   <TD STYLE="text-align: center">&nbsp;</TD>


   <TD STYLE="text-align: center">&nbsp;</TD>

   <TD STYLE="text-align: center">&nbsp;</TD>


   <TD STYLE="text-align: center">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">TOB trust</TD>

   <TD STYLE="text-align: center">&nbsp;</TD>


   <TD STYLE="text-align: center">&nbsp;</TD>

   <TD STYLE="text-align: center">&nbsp;</TD>


   <TD STYLE="text-align: center">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 7.19pt; text-align: left">certificates</TD>

   <TD STYLE="text-align: center">&nbsp;</TD>

   <TD STYLE="text-align: right">$&nbsp; (19,383,496)&nbsp;</TD>
   <TD STYLE="text-align: right"></TD>

   <TD STYLE="text-align: right">$&nbsp; (19,383,496)</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">VMTP Shares</TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">&nbsp;&#8212;</TD>


   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">(125,900,000)&nbsp;</TD>
   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">&#8212;</TD>


   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">(125,900,000)</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Total</B></TD>

   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">&nbsp;&#8212;</TD>


   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">$(145,283,496)&nbsp;</TD>
   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">&#8212;</TD>


   <TD STYLE="border-bottom: #000000 1px solid; text-align: right">$(145,283,496)</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">There were no transfers between levels during
the period ended July 31, 2012.</FONT></P></DIV>

<!-- Field: Page; Sequence: 9 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt; text-indent: -42pt">Item 2 &ndash; &nbsp;Controls
and Procedures</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt; text-indent: -42pt">2(a) &ndash; &#9;&nbsp;&nbsp;&nbsp;The registrant's
principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &Prime;1940
Act&Prime;)) 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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt; text-indent: -42pt">2(b) &ndash; &#9;&nbsp;&nbsp;&nbsp;There were no changes
in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during
the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's
internal control over financial reporting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt; text-indent: -42pt">Item 3 &ndash; &nbsp;Exhibits</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt">Certifications &ndash; Attached hereto</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt">BlackRock Investment Quality Municipal Trust, Inc.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 70%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42pt">&nbsp;</TD>
    <TD STYLE="width: 10%">By:</TD>
    <TD STYLE="width: 82%"><U>/s/ John M. Perlowski</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>John M. Perlowski</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer (principal executive officer) of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>BlackRock Investment Quality Municipal Trust, Inc.</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt">Date: September 25, 2012</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 70%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42pt">&nbsp;</TD>
    <TD STYLE="width: 10%">By:</TD>
    <TD STYLE="width: 82%"><U>/s/ John M. Perlowski</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>John M. Perlowski</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer (principal executive officer) of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>BlackRock Investment Quality Municipal Trust, Inc.</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt">Date: September 25, 2012</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 70%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42pt">&nbsp;</TD>
    <TD STYLE="width: 10%">By:</TD>
    <TD STYLE="width: 82%"><U>/s/ Neal J. Andrews</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Neal J. Andrews</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer (principal financial officer) of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>BlackRock Investment Quality Municipal Trust, Inc.</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt">Date: September 25, 2012<BR></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>e50005ex99cert.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt"><FONT STYLE="vertical-align: baseline"><B>EX-99.
CERT</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; border-bottom: Black 0.75pt solid"><B>CERTIFICATION
PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">I, John M. Perlowski, Chief Executive
Officer (principal executive officer) of BlackRock Investment Quality Municipal Trust, Inc., certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in">1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>I have reviewed this report on Form N-Q of BlackRock Investment Quality Municipal Trust, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in"> 2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in"> 3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in"> 4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt">5.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">Date: September 25, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>/s/ John M. Perlowski</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0"></TD><TD>John M. Perlowski</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt">Chief Executive Officer (principal executive
officer) of<BR>
BlackRock Investment Quality Municipal Trust, Inc.</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt"><FONT STYLE="vertical-align: baseline"><B>EX-99.
CERT</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; border-bottom: Black 0.75pt solid"><B>CERTIFICATION
PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">I, Neal J. Andrews, Chief Financial
Officer (principal financial officer) of BlackRock Investment Quality Municipal Trust, Inc., certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in">1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>I have reviewed this report on Form N-Q of BlackRock Investment Quality Municipal Trust, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in">2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in">3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in">4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in">5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">Date: September 25, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Neal J. Andrews</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0"></TD><TD>Neal J. Andrews</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt">Chief Financial Officer (principal financial
officer) of<BR>
BlackRock Investment Quality Municipal Trust, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

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