<SEC-DOCUMENT>0000891092-14-007143.txt : 20140925
<SEC-HEADER>0000891092-14-007143.hdr.sgml : 20140925
<ACCEPTANCE-DATETIME>20140925165502
ACCESSION NUMBER:		0000891092-14-007143
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140731
FILED AS OF DATE:		20140925
DATE AS OF CHANGE:		20140925
EFFECTIVENESS DATE:		20140925

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:		141121087

	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:	20120921

	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>e60586nq.htm
<DESCRIPTION>FORM N-Q
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0in"><FONT STYLE="vertical-align: baseline"><B>&nbsp;</B></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">UNITED
STATES</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><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 0 0.5in; text-indent: -0.5in">Name of Fund: BlackRock Investment
Quality Municipal Trust, Inc. (BKN)</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">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&#8217;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: 04/30/2015</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: 07/31/2014</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 &#8211; Schedule of Investments</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">July
    31, 2014 (Unaudited)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>(Percentages shown are based on Net Assets)</b></font></td></tr>
</table>


<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif; margin: 0">&nbsp;&nbsp;</P>

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<DIV STYLE="margin-right: 20pt; width: 48%; float: left;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Alabama&nbsp;&mdash; 1.5%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Birmingham Alabama Special Care Facilities Financing Authority, RB, Children's Hospital (AGC):</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">6.00%, 6/01/34</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">1,745</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,023,100</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">6.00%, 6/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">500</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">579,685</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Hoover Alabama Board of Education, Refunding, Special Tax, Capital Outlay Warrants, 4.25%, 2/15/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,275</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,296,382</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">3,899,167</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Arizona&nbsp;&mdash; 7.2%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Arizona Board of Regents, RB, Arizona State University, Series C, 5.50%, 7/01/26</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">475</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">551,499</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Arizona Health Facilities Authority, Refunding RB, Phoenix Children's Hospital, Series A, 5.00%, 2/01/42</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,300</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,455,364</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Pima Arizona IDA, Refunding, IDRB, Tucson Electric Power Co. Project, Remarketing, Series B, 5.75%, 9/01/29</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,375</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,393,329</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Pinal Arizona Electric District No. 3, Refunding RB, Electric System, 4.75%, 7/01/31</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,750</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,014,225</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Salt Verde Financial Corp., RB, Senior:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.00%, 12/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,035</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,134,494</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.00%, 12/01/37</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,585</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,004,665</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">State of Arizona, COP, Department of Administration, Series A (AGM), 5.00%, 10/01/29</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,100</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,198,483</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">University Medical Center Corp., RB, 6.50%, 7/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">750</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">867,660</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">University Medical Center Corp., Refunding RB, 6.00%, 7/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,600</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,740,240</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">19,359,959</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Arkansas&nbsp;&mdash; 4.5%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Arkansas State University, RB, Jonesboro Campus, Series B:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">4.00%, 12/01/28</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">628,074</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">4.88%, 12/01/43</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,010</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,073,367</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Benton Arkansas, RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">4.00%, 6/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,355</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,389,322</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">4.38%, 6/01/44</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">725</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">751,129</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Hot Springs Arkansas, RB, Wastewater, 5.00%, 12/01/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,800</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,955,034</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation" -->
</DIV><DIV style="width: 48%; float: right;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">Arkansas (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Little Rock Arkansas, RB, 4.00%, 7/01/41</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,230</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,192,080</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">University of Arkansas, RB, Fort Smith Campus, Series B, 4.00%, 6/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,380</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,381,504</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">University of Arkansas, Refunding RB, Various Facilities Revenue, Pine Bluff Campus, 3.50%, 12/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,720</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,653,505</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">12,024,015</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">California&nbsp;&mdash; 17.9%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">California Health Facilities Financing Authority, RB, Sutter Health, Series B, 5.88%, 8/15/31</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,300</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,746,729</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Carlsbad California Unified School District, GO, Election of 2006, Series B, 0.00%, 5/01/34 (a)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,292,625</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of San Jose California, Refunding ARB, Series A-1, AMT, 5.75%, 3/01/34</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,360,330</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Sacramento California, ARB, Senior Series A, 5.00%, 7/01/41</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,100</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,245,740</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Stanislaus California Tobacco Securitization Agency, RB, CAB, Sub-Series C, 0.00%, 6/01/55 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">7,090</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">89,830</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Dinuba California Unified School District, GO, Election of 2006 (AGM):</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.63%, 8/01/31</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">250</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">273,098</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.75%, 8/01/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">535</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">585,927</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Hartnell Community College District California, GO, CAB, Election of 2002, Series D, 0.00%, 8/01/34 (a)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,475</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,921,144</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Norwalk-La Mirada Unified School District, GO, Refunding, CAB, Election of 2002, Series E (AGC), 0.00%, 8/01/38 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">12,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,953,640</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Palomar Community College District, GO, CAB, Election of 2006, Series B:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">0.00%, 8/01/30 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,270</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,163,693</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">0.00%, 8/01/33 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,250</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,475,558</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">0.00%, 8/01/39 (a)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,923,060</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">San Diego Community College District, GO, CAB, Election of 2002, 0.00%, 8/01/33 (a)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,200</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,693,648</td></tr>
</table><!-- MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation" -->
</div><br style="clear:both"><br style="clear:both">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 6pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">1</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(continued)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>(Percentages shown are based on Net Assets)</b></font></td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation" -->
<DIV STYLE="margin-right: 20pt; width: 48%; float: left;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">California (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">San Jose California Evergreen Community College District, GO, Election of 2010, Series B, 3.50%, 8/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,800</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,760,724</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">State of California, GO, Refunding, Various Purposes:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.00%, 2/01/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,200,400</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">(NPFGC), 5.00%, 6/01/37</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,378,100</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">State of California, GO:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.75%, 4/01/31</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,538,380</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">6.00%, 3/01/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,270</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,723,478</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">6.50%, 4/01/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,900</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,527,705</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.50%, 3/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,650</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,166,146</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">48,019,955</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Colorado&nbsp;&mdash; 1.4%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Denver Health &amp; Hospital Authority, RB, Series A, 4.25%, 12/01/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">385</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">383,472</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Park Creek Metropolitan District, Refunding RB, Senior Limited Property Tax (AGM), 6.00%, 12/01/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">750</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">834,472</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">University of Northern Colorado Greely, Refunding RB , Series A, 4.00%, 6/01/35</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,563,325</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">3,781,269</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Connecticut&nbsp;&mdash; 0.4%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Connecticut State Health &amp; Educational Facility Authority, Refunding RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Hartford Healthcare, Series A, 5.00%, 7/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">150</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">159,821</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Lawrence &amp; Memorial Hospital, Series F, 5.00%, 7/01/36</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">950</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,016,946</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">1,176,767</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Delaware&nbsp;&mdash; 0.8%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Power LLC Project, 6.00%, 10/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,800</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,981,674</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Florida&nbsp;&mdash; 11.5%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Hillsborough Florida IDA, RB, National Gypsum Co., Series A, AMT, 7.13%, 4/01/30</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,700</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,707,659</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Lee Florida, Refunding ARB, Series A, AMT (AGM), 5.00%, 10/01/28</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,306,090</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation" -->
</DIV><DIV style="width: 48%; float: right;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">Florida (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Miami-Dade Florida, RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">CAB, Sub-Series A (NPFGC), 0.00%, 10/01/32 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">4,225</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">1,669,297</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">CAB, Sub-Series A (NPFGC), 0.00%, 10/01/33 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,496,600</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">CAB, Sub-Series A (NPFGC), 0.00%, 10/01/34 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,580</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,627,549</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">CAB, Sub-Series A (NPFGC), 0.00%, 10/01/35 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,684,600</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">CAB, Subordinate Special Obligation, 0.00%, 10/01/32 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,097,300</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">CAB, Subordinate Special Obligation, 0.00%, 10/01/33 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">15,375</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">6,068,051</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Series B, AMT, 6.00%, 10/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,496,560</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Orange Florida Health Facilities Authority, Refunding RB, Mayflower Retirement Center, 5.00%, 6/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">200</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">210,744</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Orange Florida Tourist Development Tax Revenue, Refunding RB, 4.75%, 10/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,281,250</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">30,645,700</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Georgia&nbsp;&mdash; 0.6%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Milledgeville &amp; Baldwin Georgia Development Authority, RB, Georgia College &amp; State University Foundation, 6.00%, 9/01/14 (c)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,522,335</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Hawaii&nbsp;&mdash; 0.2%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Hawaii State Department of Budget &amp; Finance, Refunding RB, Special Purpose, Senior Living, Kahala Nui, 5.25%, 11/15/37</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">638,064</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Idaho&nbsp;&mdash; 1.1%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Idaho Health Facilities Authority, Refunding RB, Trinity Health Group, Series B, 6.25%, 12/01/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,916,300</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Illinois&nbsp;&mdash; 11.7%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Chicago Public Building Commission, RB, Series A (NPFGC), 7.00%, 1/01/20 (d)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">6,239,650</td></tr>
</table><!-- MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation" -->
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 6pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">2</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(continued)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>(Percentages shown are based on Net Assets)</b></font></td></tr>
</table>


<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation" -->
<DIV STYLE="margin-right: 20pt; width: 48%; float: left;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 12pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><br clear="all">
    Municipal Bonds</FONT></td>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Par<br>
    (000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Value</FONT></td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">Illinois (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Chicago Illinois, Refunding ARB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Midway Airport, 2nd Lien, Series A, AMT, 5.00%, 1/01/41</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">1,735</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">1,807,696</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">O'Hare International Airport Passenger Facility Charge, Series B, AMT, 4.00%, 1/01/29</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">6,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,846,940</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Chicago Illinois Transit Authority, RB, Sales Tax Receipts, 5.25%, 12/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,083,340</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Illinois Finance Authority, RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Northwestern Memorial Hospital, Series A, 5.50%, 8/15/43 (c)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,006,240</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Rush University Medical Center, Series C, 6.63%, 11/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,200</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,362,156</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Illinois Finance Authority, Refunding RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Friendship Village Schaumburg, Series A, 5.63%, 2/15/37</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">345</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">326,574</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">OSF Healthcare System, Series A, 6.00%, 5/15/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,490</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,668,666</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Roosevelt University Project, 6.50%, 4/01/44</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,597,695</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Railsplitter Tobacco Settlement Authority, RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">6.25%, 6/01/24</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,496,050</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">6.00%, 6/01/28</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,700</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,978,664</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">State of Illinois, GO, 5.00%, 2/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,007,520</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">31,421,191</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Indiana&nbsp;&mdash; 0.5%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Indiana Finance Authority, Refunding RB, U.S. Steel Corp. Project, 6.00%, 12/01/26</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,350</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,433,943</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Iowa&nbsp;&mdash; 1.5%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Iowa Higher Education Loan Authority, RB, Private College Facility, Buena Vista University Project, 5.00%, 4/01/31</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,355</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,458,156</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Iowa Higher Education Loan Authority, Refunding RB, Private College Facility, Upper Iowa University Project:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.75%, 9/01/30</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">965</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">977,275</td></tr>
</TABLE>
<!-- MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation" -->
</DIV><DIV style="width: 48%; float: right;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">Iowa (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Iowa Higher Education Loan Authority, Refunding RB, Private College Facility, Upper Iowa University Project&nbsp;(concluded):</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">6.00%, 9/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">1,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">1,520,475</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">3,955,906</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Kansas&nbsp;&mdash; 3.2%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Seward Kansas Unified School District No. 480, GO, Refunding, 5.00%, 9/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">6,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">6,523,020</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Wyandotte-Kansas City Unified Government Utility System, Refunding RB, Series A, 5.00%, 9/01/44</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">650,406</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Kansas Development Finance Authority, Refunding RB, Sisters of Leavenworth, Series A, 5.00%, 1/01/28</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,155</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,262,415</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">8,435,841</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Kentucky&nbsp;&mdash; 5.3%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Louisville &amp; Jefferson Kentucky Metropolitan Government, Refunding RB, Jewish Hospital &amp; St. Mary&rsquo;s Healthcare, 6.13%, 2/01/18 (c)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,250</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,663,527</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Kentucky Economic Development Finance Authority, RB, Catholic Health Initiatives, Series A, 5.38%, 1/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,400</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,731,194</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Kentucky Economic Development Finance Authority, Refunding RB, Norton Healthcare, Inc., Series B (NPFGC), 0.00%, 10/01/23 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">8,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">6,115,070</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Kentucky Public Transportation Infrastructure Authority, RB, Convertible CAB, 1st tier (a):</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">0.00%, 7/01/34</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">660,810</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Series C, 0.00%, 7/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,395</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">901,491</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">14,072,092</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Louisiana&nbsp;&mdash; 2.1%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Alexandria Louisiana Utilities, RB, 5.00%, 5/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,790</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,027,345</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Louisiana Local Government Environmental Facilities &amp; Community Development Authority, RB, Westlake Chemical Corp. Project, Series A-1, 6.50%, 11/01/35</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,565</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,796,589</td></tr>
</TABLE><!-- MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation" -->
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 6pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">3</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 12pt">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(continued)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>(Percentages shown are based on Net Assets)</b></font></td></tr>
</table>
<!-- MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation" -->
<DIV STYLE="margin-right: 20pt; width: 48%; float: left;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">Louisiana (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Louisiana Public Facilities Authority, RB, Belle Chasse Educational Foundation Project, 6.50%, 5/01/31</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">658,164</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">5,482,098</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Massachusetts&nbsp;&mdash; 1.0%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Massachusetts Development Finance Agency, Refunding RB, Series A, 5.00%, 9/01/43</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,400</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,705,856</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Michigan&nbsp;&mdash; 3.7%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Michigan State Hospital Finance Authority, Refunding RB, Trinity Health Credit Group, Series C, 4.00%, 12/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,150</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,189,010</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Royal Oak Hospital Finance Authority Michigan, Refunding RB, William Beaumont Hospital, Series V, 8.25%, 9/01/18 (c)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,750</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,546,923</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">State of Michigan Building Authority, Refunding RB, Facilities Program, Series I, 6.25%, 10/15/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,875</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,183,081</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">9,919,014</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Minnesota&nbsp;&mdash; 4.1%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Minneapolis Minnesota, Refunding RB, Fairview Health Services, Series B (AGC), 6.50%, 11/15/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,250</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,647,485</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Shakopee Minnesota, Refunding RB, St. Francis Regional Medical Center, 5.00%, 9/01/34</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">300</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">326,763</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">State of Minnesota, RB, Series A, 5.00%, 6/01/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,617,950</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">University of Minnesota, GO, Series B, 4.00%, 1/01/35 (h)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,330</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,422,711</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">11,014,909</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Mississippi&nbsp;&mdash; 3.4%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Warren Mississippi, RB, Gulf Opportunity Zone Bonds, International Paper Co. Project, Series A, 5.38%, 12/01/35</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">659,712</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Mississippi Development Bank, RB, Special Obligation:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">CAB, Hinds Community College District (AGM), 5.00%, 4/01/36</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">1,910</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,048,418</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">County of Jackson Limited Tax Note (AGC), 5.50%, 7/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,655</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,892,861</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
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</DIV><DIV style="width: 48%; float: right;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">Mississippi (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">University of Southern Mississippi, RB, Campus Facilities Improvements Project, 5.38%, 9/01/36</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,150</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,458,417</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">9,059,408</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Missouri&nbsp;&mdash; 3.1%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Missouri Development Finance Board, RB, Annual Appropriation Sewer System, Series B, 5.00%, 11/01/41</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,350</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,421,996</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Missouri State Health &amp; Educational Facilities Authority, RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">A.T. Still University of Health Sciences, 5.25%, 10/01/31</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">500</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">546,395</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">A.T. Still University of Health Sciences, 4.25%, 10/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">480</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">495,067</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">A.T. Still University of Health Sciences, 5.00%, 10/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">750</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">804,660</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Heartland Regional Medical Center, 4.13%, 2/15/43</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,530</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,507,249</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">University of Central Missouri, Series C-2, 4.00%, 10/01/28</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">625,242</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">University of Central Missouri, Series C-2, 5.00%, 10/01/34</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,639,365</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Missouri State Health &amp; Educational Facilities Authority, Refunding RB, CoxHealth, Series A, 5.00%, 11/15/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,200</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,277,880</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">8,317,854</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Montana&nbsp;&mdash; 2.1%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Montana Facility Finance Authority, Refunding RB, Sisters of Charity of Leavenworth Health System, Series A, 4.75%, 1/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">700</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">731,213</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">State of Montana Board of Regents, RB, 5.00%, 11/15/43</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,340</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,695,109</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Yellowstone County School District No. 2 Billings, GO, 4.50%, 6/15/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,107,480</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">5,533,802</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Nebraska&nbsp;&mdash; 2.2%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Central Plains Energy Project Nebraska, RB, Gas Project No. 3, 5.00%, 9/01/42</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">900</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">941,976</td></tr>
</table>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 6pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">4</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(continued)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>(Percentages shown are based on Net Assets)</b></font></td></tr>
</table>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation" -->
<DIV STYLE="margin-right: 20pt; width: 48%; float: left;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">Nebraska (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Omaha Nebraska, RB, Sanitary Sewerage System, 4.00%, 11/15/42</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">800</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">814,672</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Nebraska Public Power District, Refunding RB, Series A:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.00%, 1/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,535</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,802,341</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.00%, 1/01/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">750</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">826,508</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">4.00%, 1/01/44</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600,900</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">5,986,397</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Nevada&nbsp;&mdash; 1.0%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Clark Nevada, Refunding ARB, Department of Aviation, Subordinate Lien, Series A-2, 4.25%, 7/01/36</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,533,420</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Clark Nevada, Refunding RB, Alexander Dawson School Nevada Project, 5.00%, 5/15/29</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,065</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,125,087</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">2,658,507</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">New Jersey&nbsp;&mdash; 4.2%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Middlesex New Jersey Improvement Authority, RB, Heldrich Center Hotel, Sub-Series B, 6.25%, 1/01/37 (e)(f)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,510</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">77,010</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">New Jersey EDA, RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">4.00%, 6/15/35</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">300</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">299,214</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Continental Airlines, Inc. Project, AMT, 5.25%, 9/15/29</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,335</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,375,451</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Continental Airlines, Inc. Project, Series B, AMT, 5.63%, 11/15/30</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">990</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,051,667</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Rutgers - The State University of New Jersey, College Avenue Redevelopment Project, 5.00%, 6/15/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">670</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">748,765</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">The Goethals Bridge Replacement Project, AMT (AGM), 5.13%, 7/01/42</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">300</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">320,547</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">New Jersey Educational Facilities Authority, Refunding RB, University of Medicine &amp; Dentistry, Series B (c):</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">7.13%, 6/01/19</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">950</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,211,212</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">7.50%, 6/01/19</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,225</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,583,312</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">New Jersey Health Care Facilities Financing Authority, Refunding RB, St. Barnabas Health Care System, Series A:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">4.63%, 7/01/23</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">770</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">845,360</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.00%, 7/01/25</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">500</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">558,420</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation" -->
</DIV><DIV style="width: 48%; float: right;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">New Jersey (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">New Jersey Health Care Facilities Financing Authority, Refunding RB, St. Barnabas Health Care System, Series A&nbsp;(concluded):</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.63%, 7/01/37</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,560</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,780,109</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">New Jersey Housing &amp; Mortgage Finance Agency, RB, S/F Housing, Series AA, 6.50%, 10/01/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">345</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">355,322</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">11,206,389</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">New York&nbsp;&mdash; 9.1%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Albany Industrial Development Agency, RB, New Covenant Charter School Project, Series A, 7.00%, 5/01/35 (e)(f)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">725</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">108,794</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of New York New York, GO, Fiscal 2014, Sub-Series A-1:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.00%, 8/01/29</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">687,918</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.00%, 8/01/35</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,380</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,647,750</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of New York New York Industrial Development Agency, ARB, American Airlines, Inc., JFK International Airport, AMT, 7.63%, 8/01/25 (g)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,600</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,854,384</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of New York New York Industrial Development Agency, RB, PILOT, Queens Baseball Stadium:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">(AGC), 6.50%, 1/01/46</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">300</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">348,513</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">(AMBAC), 5.00%, 1/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,900</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,929,279</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien, Remarketing, Series A, 5.00%, 11/01/30</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,600</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,704,928</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Hudson Yards Infrastructure Corp., RB, Series A (AGM), 5.00%, 2/15/47</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,250</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,295,900</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Long Island Power Authority, Refunding RB, Electric System, Series A, 5.75%, 4/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,475</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,804,992</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Metropolitan Transportation Authority, RB, Series B, 5.25%, 11/15/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,460</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">6,106,573</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">New York Liberty Development Corp., Refunding RB, 2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 7/15/49</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,250</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,376,187</td></tr>
</table>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 6pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">5</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 12pt">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(continued)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>(Percentages shown are based on Net Assets)</b></font></td></tr>
</table>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
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<DIV STYLE="margin-right: 20pt; width: 48%; float: left;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">New York (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series A, AMT, 5.25%, 11/01/42</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">606,822</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Port Authority of New York &amp; New Jersey, ARB, Consolidated 183rd Series, 4.00%, 6/15/44</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,004,780</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">24,476,820</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">North Carolina&nbsp;&mdash; 3.9%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Buncombe North Carolina Metropolitan Sewerage District, RB, 4.00%, 7/01/36</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">860</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">889,180</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Gaston North Carolina Industrial Facilities &amp; Pollution Control Financing Authority, RB, Exempt Facilities, National Gypsum Co. Project, AMT, 5.75%, 8/01/35</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,175</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,173,956</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">North Carolina Medical Care Commission, Refunding RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Health Care Facilities, Novant Health Obligated Group, Series A, 4.00%, 11/01/46</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">5,600</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">5,349,232</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">University Health System, Series D, 6.25%, 12/01/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,750</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,020,252</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">10,432,620</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">North Dakota&nbsp;&mdash; 0.5%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of Fargo North Dakota, Refunding RB, University Facilities Development Foundation Project, 3.00%, 12/01/30</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">600</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">576,690</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Burleigh North Dakota, Refunding RB, St. Alexius Medical Center Project, Series A, 5.00%, 7/01/35</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">720</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">756,007</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">1,332,697</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Oklahoma&nbsp;&mdash; 1.5%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Oklahoma Municipal Power Authority, RB, Power Supply System, Series A, 4.00%, 1/01/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,050</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,056,699</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P><!-- MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation" -->
</DIV><DIV style="width: 48%; float: right;">


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">Oklahoma (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Stillwater Utilities Authority, RB, Series A, 4.00%, 10/01/42 (h)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,009,840</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">4,066,539</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Oregon&nbsp;&mdash; 3.7%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Central Oregon Community College District, GO, 4.00%, 6/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">800</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">810,600</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Umatilla Pendleton Oregon School District No. 16R, GO, Series A:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.00%, 6/15/37</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">4,225</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">4,802,896</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">4.00%, 6/15/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,365</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,423,155</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Oregon Health &amp; Science University, RB, Series A, 5.75%, 7/01/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,250</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,434,350</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Oregon State Facilities Authority, Refunding RB, Linfield College Project, Series A, 5.25%, 10/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">500</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">526,290</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">9,997,291</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Pennsylvania&nbsp;&mdash; 3.8%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Allegheny Pennsylvania IDA, Refunding RB, U.S. Steel Corp. Project, 6.55%, 12/01/27</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,535</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,812,101</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Delaware River Port Authority, RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">4.50%, 1/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,204,060</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Series D (AGM), 5.00%, 1/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,640</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,866,553</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Mckeesport Area School District, GO, CAB, Refunding (NPFGC), 0.00%, 10/01/31 (b)(d)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">500</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">284,110</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">10,166,824</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Rhode Island&nbsp;&mdash; 3.0%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Rhode Island Health &amp; Educational Building Corp., RB:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">City of Newport Issue, Series C, 4.00%, 5/15/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,850</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,882,061</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Hospital Financing, LifeSpan Obligation, Series A (AGC), 7.00%, 5/15/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,433,440</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Rhode Island Health &amp; Educational Building Corp., Refunding RB, Brown University, 4.50%, 9/01/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,200</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,317,132</td></tr>
</table><!-- MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation" -->
</div><br style="clear:both"><br style="clear:both">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 6pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">6</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 12pt">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(continued)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>(Percentages shown are based on Net Assets)</b></font></td></tr>
</table>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation" -->
<DIV STYLE="margin-right: 20pt; width: 48%; float: left;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold">Rhode Island (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">State of Rhode Island, COP, School for the Deaf Project, Series C (AGC), 5.38%, 4/01/28</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,330</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,448,995</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">8,081,628</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Tennessee&nbsp;&mdash; 2.5%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Chattanooga Health Educational &amp; Housing Facility Board, RB, Catholic Health Initiatives, Series A, 5.25%, 1/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,945</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,205,780</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Memphis-Shelby Tennessee Sports Authority, Inc., Refunding RB, Memphis Arena Project, Series A:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.25%, 11/01/27</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">1,135</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">1,233,972</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">5.38%, 11/01/28</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,088,160</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Johnson City Health &amp; Educational Facilities Board, RB, Mountain States Health, Series A, 5.00%, 8/15/42</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,200</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,256,556</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">6,784,468</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Texas&nbsp;&mdash; 11.2%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Harris Texas Health Facilities Development Corp., Refunding RB, Memorial Hermann Healthcare System, Series B (c):</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">7.13%, 12/01/18</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,256,660</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">7.25%, 12/01/18</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,650</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,344,141</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Harris Texas-Houston Sports Authority, Refunding RB, CAB, Senior Lien, Series A (NPFGC), 0.00%, 11/15/38 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,260,750</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Matagorda Texas Navigation District No. 1, Refunding RB, Central Power &amp; Light Co. Project, Series A, 6.30%, 11/01/29</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,200</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,509,826</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Midland Texas Fresh Water Supply District No. 1, RB, CAB, City of Midland Project, Series A (b):</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">0.00%, 9/15/36</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">7,520</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,660,350</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">0.00%, 9/15/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">16,780</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,347,954</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Lockhart Independent School District, GO, 4.00%, 8/01/44 (h)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,335</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,341,368</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Love Field Airport Modernization Corp., RB, Southwest Airlines Co. Project, 5.25%, 11/01/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,545</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,617,090</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P><!-- MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation" -->
</DIV><DIV style="width: 48%; float: right;">


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; margin-bottom: 12pt">
<tr style="vertical-align: bottom">
    <td colspan="2" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-weight: bold">Texas (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">New Hope Cultural Education Facilities Corp., HRB, Texas A&amp;M University Project, Series A (AGM), 5.00%, 4/01/46</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">260</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">276,146</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Red River Education Financing Corp., RB, Texas Christian University Project, 5.25%, 3/15/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,140</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,292,783</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">State of Texas Turnpike Authority, RB, CAB (AMBAC), 0.00%, 8/15/31 (b)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">15,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,427,000</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien, LBJ Infrastructure Group LLC, LBJ Freeway Managed Lanes Project, 7.00%, 6/30/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,562,830</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="3" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">29,896,898</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="5" STYLE="font-weight: bold">Vermont&nbsp;&mdash; 1.3%</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Vermont Educational &amp; Health Buildings Financing Agency, Refunding RB, Fletcher Allen Health Hospital, Series B (AGM), 5.00%, 12/01/34</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,420</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,521,688</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Vermont Student Assistance Corp., RB, AMT, Series A, 4.25%, 6/15/32</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,050</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,028,969</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="3" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">3,550,657</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="5" STYLE="font-weight: bold">Virginia&nbsp;&mdash; 1.3%</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">County of Prince William Virginia IDA, Refunding RB, Novant Health Obligation Group, Series B, 4.00%, 11/01/46</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,575</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,536,885</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings&nbsp;LLC Project, AMT, 6.00%, 1/01/37</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,755</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,957,071</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="3" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">3,493,956</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="5" STYLE="font-weight: bold">Washington&nbsp;&mdash; 0.9%</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Washington Health Care Facilities Authority, RB, MultiCare Health System, Series B (AGC), 6.00%, 8/15/39</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,100</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,392,551</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="5" STYLE="font-weight: bold">West Virginia&nbsp;&mdash; 0.7%</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">City of Wheeling West Virginia Waterworks &amp; Sewerage System, RB, 5.00%, 6/01/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,800</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,949,454</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
</table>
<!-- MARKER FORMAT-SHEET="2 Column - End of Div" FSL="Workstation" -->
</div><br style="clear:both"><br style="clear:both">


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 6pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">7</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
<!-- Field: Page; Sequence: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 12pt">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(continued)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>(Percentages shown are based on Net Assets)</b></font></td></tr>
</table>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- MARKER FORMAT-SHEET="2 Column - 1st Div" FSL="Workstation" -->
<DIV STYLE="margin-right: 20pt; width: 48%; float: left;">

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="3" style="font-weight: bold">Municipal Bonds</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Wyoming&nbsp;&mdash; 0.7%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">County of Sweetwater Wyoming, Refunding RB, Idaho Power Co. Project, Remarketing, 5.25%, 7/15/26</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,800</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,962,792</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="4" style="padding-top: 2pt"><b>Total Municipal Bonds</b> &mdash; <b>140.3%</b></td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">375,753,607</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="color: #47B0FF">&nbsp;</td></tr>
<TR STYLE="vertical-align: bottom; background-color: #0070C0">
    <TD COLSPAN="6" STYLE="color: #47B0FF">&nbsp;</TD></TR>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-weight: bold; padding-top: 6pt">Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (i)</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">Colorado&nbsp;&mdash; 2.0%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Colorado Health Facilities Authority, RB, Catholic Health, Series C-7 (AGM), 5.00%, 9/01/36</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,250</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">5,471,707</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">New Jersey&nbsp;&mdash; 1.2%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">New Jersey Transportation Trust Fund Authority, RB, Transportation System, Series B, 5.25%, 6/15/36 (j)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,861</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,111,081</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="6" STYLE="font-weight: bold">New York&nbsp;&mdash; 8.9%</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of New York New York Municipal Water Finance Authority, RB, Fiscal 2009, Series A, 5.75%, 6/15/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">690</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">789,394</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">City of New York New York Municipal Water Finance Authority, Refunding RB, Water &amp; Sewer System:</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">2nd General Resolution, Fiscal 2013, Series CC, 5.00%, 6/15/47</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">4,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">4,346,210</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">2nd General Resolution, Series FF-2, 5.50%, 6/15/40</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">810</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">926,488</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Series A, 4.75%, 6/15/30</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,000</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,367,840</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">Hudson Yards Infrastructure Corp., RB, Senior Bond, Fiscal 2012, Series A, 5.75%, 2/15/47 (j)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,750</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,990,690</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated, 5.25%, 12/15/43</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,500</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">4,958,460</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-left: 0.1in; text-indent: -0.1in">State of New York Dormitory Authority, RB, New York University, Series A, 5.00%, 7/01/38</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,359</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,718,865</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P><!-- MARKER FORMAT-SHEET="2 Column - 2nd Div" FSL="Workstation" -->
</DIV><DIV style="width: 48%; float: right;">


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="2" style="font-weight: bold">Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (i)</td>
    <TD STYLE="font-weight: bold; text-align: center">Par<br>
(000)</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center">Value</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-weight: bold">New York (concluded)</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">State of New York Thruway Authority, Refunding RB, Transportation, Personal Income Tax, Series A, 5.00%, 3/15/31</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,360</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">2,678,364</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="3" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">23,776,311</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="5" STYLE="font-weight: bold">Ohio&nbsp;&mdash; 1.7%</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">County of Montgomery Ohio, RB, Catholic Health, Series C-1 (AGM), 5.00%, 10/01/41</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,740</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">1,800,413</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Ohio Higher Educational Facility Commission, RB, Cleveland Clinic Health, Series A, 5.25%, 1/01/33</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,600</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,852,382</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: bottom">
    <td colspan="3" style="padding-top: 2pt">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right">4,652,795</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="5" STYLE="font-weight: bold">Texas&nbsp;&mdash; 1.0%</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">City of San Antonio Texas Public Service Board, RB, Electric &amp; Gas Systems, Junior Lien, 5.00%, 2/01/43</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,380</td>
    <TD STYLE="padding-left: 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,609,337</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="3"><b>Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts</b> &mdash; <b>14.8%</b></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">39,621,231</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-top: 2pt; border-bottom: Black 1pt solid"><b>Total Long-Term Investments</b><br>
<b>(Cost &mdash; $382,400,005) &mdash; 155.1%</b></td>
    <TD STYLE="padding-top: 2pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="padding-top: 2pt; text-align: right; border-bottom: Black 1pt solid">415,374,838</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt">&nbsp;</td></tr>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="color: #47B0FF">&nbsp;</td></tr>
<TR STYLE="vertical-align: bottom; background-color: #0070C0">
    <TD COLSPAN="5" STYLE="color: #47B0FF">&nbsp;</TD></TR>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-weight: bold; padding-top: 6pt">Short-Term Securities</td>
    <TD STYLE="font-weight: bold; text-align: center; padding-top: 6pt">Shares</td>
    <TD STYLE="font-weight: bold; text-align: right; padding-top: 6pt">&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: center; padding-top: 6pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">FFI Institutional Tax-Exempt Fund, 0.03% (k)(l)</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,373,192</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,373,192</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: bottom"><b>Total Short-Term Securities</b><br>
<b>(Cost &mdash; $3,373,192) &mdash; 1.2%</b></td>
    <TD STYLE="vertical-align: bottom; width: 5%; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: right">3,373,192</td>
    <TD STYLE="width: 1%; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt"><b>Total Investments</b><br>
<b>(Cost &mdash; $385,773,197) &mdash; 156.3%</b></td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">418,748,030</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt"><b>Liabilities in Excess of Other Assets</b> &mdash; <b>(1.1)%</b></td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">(2,940,778)</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt"><b>Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable</b> &mdash; <b>(8.2%)</b></td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">(22,055,988)</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt"><b>VMTP Shares, at Liquidation Value</b> &mdash; <b>(47.0%)</b></td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">(125,900,000)</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></TD></TR>
<tr>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt"><b>Net Assets Applicable to Common Shares</b> &mdash; <b>100.0%</b></td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">$</td>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; text-align: right">267,851,264</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD colspan="3" STYLE="font-size: 2pt; border-bottom: Black 1pt solid; width: 12%">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; width: 2%; text-align: center">*</td>
    <td style="vertical-align: top; width: 96%">As of July 31, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:</td>
    <td style="width: 2%; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">Tax cost&#9;</td>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: right">$</td>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-left: 0.1in; text-align: right; text-indent: -0.1in">363,689,089</td>
    <TD STYLE="width: 1%; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font-size: 2pt">&nbsp;</td>
    <TD COLSPAN="3" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">Gross unrealized appreciation&#9;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">$</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">35,896,898</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">Gross unrealized depreciation&#9;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">(2,887,512)</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font-size: 2pt">&nbsp;</td>
    <TD COLSPAN="3" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">Net unrealized appreciation&#9;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">$</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">33,009,386</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font-size: 2pt">&nbsp;</td>
    <TD COLSPAN="3" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="width: 100%; font-weight: bold">&nbsp;</td></tr>
</table>

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    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">8</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
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    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(continued)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right">&nbsp;</TD></TR>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <td colspan="3">
        <P STYLE="color: navy; font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; background-color: #99CCFF; border-top: navy 1pt solid; border-bottom: navy 1pt solid"><b>Notes
        to Schedule of Investments </b></P></td></tr>
<tr>
    <td style="vertical-align: top">(a)</td>
    <td colspan="2" style="vertical-align: bottom">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 reflects the current yield as of report date.</td></tr>
<tr>
    <td style="vertical-align: top">(b)</td>
    <td colspan="2" style="vertical-align: bottom">Zero-coupon bond.</td></tr>
<tr>
    <td style="vertical-align: top">(c)</td>
    <td colspan="2" style="vertical-align: bottom">U.S. government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par.</td></tr>
<tr>
    <td style="vertical-align: top">(d)</td>
    <td colspan="2" style="vertical-align: bottom">Security is collateralized by municipal or U.S. Treasury obligations.</td></tr>
<tr>
    <td style="vertical-align: top">(e)</td>
    <td colspan="2" style="vertical-align: bottom">Non-income producing security.</td></tr>
<tr>
    <td style="vertical-align: top">(f)</td>
    <td colspan="2" style="vertical-align: bottom">Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.</td></tr>
<tr>
    <td style="vertical-align: top">(g)</td>
    <td colspan="2" style="vertical-align: bottom">Variable rate security. Rate shown is as of report date.</td></tr>
<tr>
    <td style="vertical-align: top">(h)</td>
    <td colspan="2" style="vertical-align: bottom">When-issued security. Unsettled when-issued transactions were as follows:</td></tr>
<tr>
    <td colspan="2" style="vertical-align: bottom; font-weight: bold">&nbsp;</td>
    <td style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="width: 45%">&nbsp;</td>
    <td style="width: 50%">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">

<tr>
    <TD STYLE="vertical-align: bottom; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Counterparty</td>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-weight: bold; text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Value</td>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-weight: bold; text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Unrealized<BR> Appreciation/<BR> (Depreciation)</td></tr>
<tr style="vertical-align: bottom">
    </tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">J.P. Morgan Securities LLC</td>
    <TD STYLE="width: 5%; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="width: 10%; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">3,009,840</td>
    <TD STYLE="width: 5%; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="width: 10%; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">9,840</td>
    </tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">RBC Capital Markets</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">2,422,711</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">117</td>
    </tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in; border-bottom: Black 1pt solid">Robert W. Baird Co.</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid">1,341,368</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid">(2,630)</td>
    </tr>
<tr style="vertical-align: bottom">
    </tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top">(i)</td>
    <td colspan="2" style="vertical-align: bottom">Represent bonds transferred to a TOB. In exchange for which the Trust received cash and residual interest certificates. These bonds serve as collateral in a financing transaction.</td></tr>
<tr>
    <td style="vertical-align: top">(j)</td>
    <td colspan="2" style="vertical-align: bottom">All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire from February 15, 2019 to June 15, 2019 is $3,149,408.</td></tr>
<tr>
    <td style="vertical-align: top">(k)</td>
    <td colspan="2" style="vertical-align: bottom">Investments in issuers considered to be an affiliate of the Trust during the period ended July 31, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:</td></tr>
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 50%">&nbsp;</td>
    <td style="width: 48%">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Affiliate</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Shares<br>
Held at<br>
April 30, 2014</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Net<br>
Activity</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Shares<br>
Held at<br>
July 31, 2014</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; font-weight: bold; text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Income</td>
    <TD COLSPAN="1" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in; border-bottom: Black 1pt solid">FFI Institutional Tax-Exempt Fund </td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: center; text-indent: -0.1in; border-bottom: Black 1pt solid">7,042,672</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: center; text-indent: -0.1in; border-bottom: Black 1pt solid">(3,669,480)</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: center; text-indent: -0.1in; border-bottom: Black 1pt solid">3,373,192</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; border-bottom: Black 1pt solid">$</td>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: center; text-indent: -0.1in; border-bottom: Black 1pt solid">531</td>
    <TD COLSPAN="1" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 2%">(l)</td>
    <td style="vertical-align: bottom; width: 98%">Represents the current yield as of report date.</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 2%; font-weight: bold; text-align: center">&bull;</td>
    <td style="vertical-align: top; width: 97%; font-weight: bold"><font style="font-weight: normal">Financial futures contracts outstanding as of July 31, 2014 were as follows:</font></td>
    <td style="width: 1%; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD colspan="3" STYLE="font-size: 2pt; border-bottom: Black 1pt solid; width: 12%">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: bottom; font-weight: bold">Contracts<br>
Sold</td>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center">Issue</td>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center">Exchange</td>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center">Expiration</td>
    <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center">Notional<br>
Value</td>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-weight: bold; text-align: center">Unrealized<BR> Appreciation</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">(212)</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: center; text-indent: -0.1in">10-Year U.S. Treasury Note</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: center; text-indent: -0.1in">Chicago Board of Trade</td>
    <TD STYLE="vertical-align: bottom; text-align: center">September<br>
2014</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 3%">$</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">26,417,188</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 3%">$</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">82,516</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 0%">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font-size: 2pt; border-bottom: Black 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <td colspan="2">
        <P STYLE="color: navy; font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; background-color: #99CCFF; border-top: navy 1pt solid; border-bottom: navy 1pt solid"><b>Portfolio
        Abbreviations </b></P></td></tr>
<tr>
    <td style="vertical-align: top; width: 7%">AGC</td>
    <td style="vertical-align: bottom; width: 93%">Assured Guarantee Corp.</td></tr>
<tr>
    <td style="vertical-align: top">AGM</td>
    <td style="vertical-align: bottom">Assured Guaranty Municipal Corp.</td></tr>
<tr>
    <td style="vertical-align: top">AMBAC</td>
    <td style="vertical-align: bottom">American Municipal Bond Assurance Corp.</td></tr>
<tr>
    <td style="vertical-align: top">AMT</td>
    <td style="vertical-align: bottom">Alternative Minimum Tax (subject to)</td></tr>
<tr>
    <td style="vertical-align: top">ARB</td>
    <td style="vertical-align: bottom">Airport Revenue Bonds</td></tr>
<tr>
    <td style="vertical-align: top">CAB</td>
    <td style="vertical-align: bottom">Capital Appreciation Bonds</td></tr>
</table>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 6pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">9</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
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<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(continued)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right">&nbsp;</TD></TR>
</table>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 7%">COP</td>
    <td style="vertical-align: bottom; width: 93%">Certificates of Participation</td></tr>
<tr>
    <td style="vertical-align: top">EDA</td>
    <td style="vertical-align: bottom">Economic Development Authority</td></tr>
<tr>
    <td style="vertical-align: top">GO</td>
    <td style="vertical-align: bottom">General Obligation Bonds</td></tr>
<tr>
    <td style="vertical-align: top">HRB</td>
    <td style="vertical-align: bottom">Housing Revenue Bonds</td></tr>
<tr>
    <td style="vertical-align: top">IDA</td>
    <td style="vertical-align: bottom">Industrial Development Authority</td></tr>
<tr>
    <td style="vertical-align: top">IDRB</td>
    <td style="vertical-align: bottom">Industrial Development Revenue Bonds</td></tr>
<tr>
    <td style="vertical-align: top">NPFGC</td>
    <td style="vertical-align: bottom">National Public Finance Guarantee Corp.</td></tr>
<tr>
    <td style="vertical-align: top">PILOT</td>
    <td style="vertical-align: bottom">Payment in Lieu of Taxes</td></tr>
<tr>
    <td style="vertical-align: top">RB</td>
    <td style="vertical-align: bottom">Revenue Bonds</td></tr>
<tr>
    <td style="vertical-align: top">S/F</td>
    <td style="vertical-align: bottom">Single-Family</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: top; text-align: center">&bull;</td>
    <td colspan="2" style="vertical-align: bottom">Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:
</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</td>
    <TD STYLE="vertical-align: top; width: 3%; text-align: center">&bull;</td>
    <TD STYLE="vertical-align: bottom">Level 1 &mdash; unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="3">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center">&bull;</td>
    <TD STYLE="vertical-align: bottom">Level 2 &mdash; 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)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="3">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center">&bull;</td>
    <TD STYLE="vertical-align: bottom">Level 3 &mdash; unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust's own assumptions used in determining the fair value of investments and derivative financial instruments)</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="3">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="3">The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety.<br>
<br>
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 and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust's policy regarding valuation of investments and derivative financial instruments, please refer to the Trust's most recent financial statements as contained in its annual report.<br>
<br>
The following tables summarize the Trust's investments and derivative financial instruments categorized in the disclosure hierarchy as of July 31, 2014:<br>
<br></td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-weight: bold; text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Level 1</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Level 2</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Level 3</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Total</td>
    </tr>
<tr>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><B>Assets:</B><SUP> </SUP>&nbsp;</td></tr>
<tr>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">Investments:<SUP> </SUP></td></tr>
<tr>
    <TD STYLE="width: 3%; vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">Long-Term Investments<sup> 1</sup></td>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 5%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 10%">&mdash;</td>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 5%">$</td>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 10%">415,374,838</td>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 5%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 10%">&mdash;</td>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 5%">$</td>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 10%">415,374,838</td>
    </tr>
<tr>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">Short-Term Securities<sup> </sup></td>
    <TD STYLE="vertical-align: bottom; text-align: right">$</td>
    <TD STYLE="vertical-align: bottom; text-align: right">3,373,192</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&mdash;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&mdash;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">3,373,192</td>
    </tr>
<tr>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><b>Total</b></td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">$</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">3,373,192</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">$</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">415,374,838</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">&mdash;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">$</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">418,748,030</td>
    </tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 1%"><sup>1</sup></td>
    <td style="vertical-align: bottom; width: 99%">See above Schedule of Investments for values in each sector.</td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td>
    </tr>
<tr>
    <TD STYLE="vertical-align: bottom">Derivative Financial Instruments<sup> 2</sup></td>
    <TD COLSPAN="9" STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom"><b>Assets:</b><sup> </sup></td>
    <TD COLSPAN="9" STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">Interest rate contracts<sup> </sup></td>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">82,516</td>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&mdash;</td>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&mdash;</td>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">82,516</td>
    </tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 1%"><sup>2</sup></td>
    <td style="vertical-align: bottom; width: 99%">Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.</td></tr>
</table>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 12pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">10</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
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<tr style="vertical-align: bottom">
    <TD STYLE="width: 61%; border-top: navy 4pt solid; font: 9pt Arial, Helvetica, Sans-Serif; padding-top: 6pt"><FONT STYLE="font: 14pt Arial, Helvetica, Sans-Serif,sans-serif; color: navy">Schedule
    of Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif,sans-serif; color: navy"> <FONT STYLE="font-size: 9pt">(concluded)</FONT> </FONT></td>
    <TD NOWRAP STYLE="width: 39%; border-top: navy 4pt solid; font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right; padding-top: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif,sans-serif"><b>BlackRock Investment Quality Municipal Trust, Inc. (BKN)</b></font></td></tr>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: navy; text-align: right">&nbsp;</TD></TR>
</table>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="width: 100%; padding-top: 12pt; font-weight: bold"><font style="font-weight: normal">The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of July 31, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:</font><br>
<sup>&nbsp;</sup>&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Level 1</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Level 2</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Level 3</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Total</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><B>Assets:</B><SUP> </SUP>&nbsp;</td></tr>
<tr>
    <TD STYLE="width: 3%; vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">Cash received for financial futures contracts<sup> </sup></td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">290,000</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">&mdash;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">&mdash;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 5%">$</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in; width: 10%">290,000</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><B>Liabilities:</B><SUP> </SUP>&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">TOB trust certificates<sup> </sup></td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&mdash;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">$</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">(22,049,555)</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&mdash;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">(22,049,555)</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-indent: -0.1in">VMTP Shares<sup> </sup></td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&mdash;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">(125,900,000)</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&mdash;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right; text-indent: -0.1in">(125,900,000)</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</td>
    <TD COLSPAN="10" STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
<tr>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><b>Total</b><sup> </sup></td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">$</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">290,000</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">$</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">(147,949,555)</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">&mdash;</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">$</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right">(147,659,555)</td>
    <TD STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="width: 100%"><br>
There were no transfers between levels during the period ended July 31, 2014.</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-top: 6pt">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 0.5in">&nbsp;</td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td>
    <td colspan="3" style="border-top: Black 1pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt">&nbsp;</td>
    <td colspan="2" style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">BlackRock Investment Quality Municipal Trust, Inc.</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-transform: uppercase; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">July 31, 2014</font></td>
    <td style="font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; position: relative; top: 5pt"><font style="font: 7.5pt Arial, Helvetica, Sans-Serif,sans-serif">11</font></td></tr>
<tr>
    <TD STYLE="width: 155px">&nbsp;</td>
    <TD STYLE="width: 15px">&nbsp;</td>
    <TD STYLE="width: 364px">&nbsp;</td>
    <TD STYLE="width: 9px">&nbsp;</td>
    <TD STYLE="width: 135px">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt; text-indent: -42pt">Item 2 &#8211; Controls and Procedures</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 42pt; text-indent: -42pt">2(a) &#8211; &#9;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 &#8243;1940
Act&#8243;)) 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) &#8211; &#9;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 &#8211; Exhibits</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0">Certifications &#8211; Attached hereto</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">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 0 41.75pt">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 CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 11pt Times New Roman, Times, Serif; margin-left: 41.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-indent: 0"><U>/s/ John M. Perlowski</U></TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0; padding-left: 0">John M. Perlowski</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0; text-indent: 0">Chief Executive Officer (principal executive officer) of</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0; text-indent: 0">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 0 41.75pt">Date: September 25, 2014</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">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 CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 11pt Times New Roman, Times, Serif; margin-left: 41.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-indent: 0"><U>/s/ John M. Perlowski</U></TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0; padding-left: 0">John M. Perlowski</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0; text-indent: 0">Chief Executive Officer (principal executive officer) of</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0; text-indent: 0">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 0 41.75pt">Date: September 25, 2014</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 11pt Times New Roman, Times, Serif; margin-left: 41.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-indent: 0"><U>/s/ Neal J. Andrews</U></TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0; padding-left: 0">Neal J. Andrews</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0; padding-left: 0">Chief Financial Officer (principal financial officer) of</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0; text-indent: 0">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 0 41.75pt">Date: September 25, 2014</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>e60586ex99cert.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><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-top: 0; margin-bottom: 11pt; margin-left: 0; text-indent: 0">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-top: 0; margin-bottom: 11pt; margin-left: 0; text-indent: 0">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-top: 0; margin-bottom: 11pt; margin-left: 0; text-indent: 0">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-top: 0; margin-bottom: 11pt; margin-left: 0; text-indent: 0">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-top: 0; margin-bottom: 11pt; margin-left: 0; text-indent: 0">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, 2014</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: 0pt"></TD><TD STYLE="width: 0pt"></TD><TD>John M. Perlowski</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">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"><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, 2014</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: 0pt"></TD><TD STYLE="width: 0pt"></TD><TD>Neal J. Andrews</TD></TR></TABLE>

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

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