NPORT-EX 2 NPORT_B158_70277962_0122.htm BlackRock Investment Quality Municipal Trust

Schedule of Investments (unaudited)

January 31, 2022

   

BlackRock Investment Quality Municipal Trust, Inc. (BKN)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds

 

Arizona — 5.8%

 

Arizona Health Facilities Authority, Refunding RB, Series A, 5.00%, 02/01/42

   $       3,300     $ 3,300,000  

Arizona Industrial Development Authority, Refunding RB(a)

   

Series A, 5.50%, 07/01/52

     215       229,405  

Series G, 5.00%, 07/01/47

     430       479,581  

City of Phoenix Civic Improvement Corp., ARB,
Series B, AMT, Junior Lien, 3.25%, 07/01/49

     4,000       4,079,604  

Salt Verde Financial Corp., RB

    

5.00%, 12/01/32

     1,095       1,346,841  

5.00%, 12/01/37

     4,885       6,323,989  
   

 

 

  
        15,759,420  
Arkansas — 2.6%            

Arkansas Development Finance Authority, RB, Series A, AMT, 4.50%, 09/01/49(a)

    1,550       1,669,676  

City of Benton Arkansas, RB, (AGM), 4.00%, 06/01/39

     755       791,855  

City of Fort Smith Arkansas Water & Sewer Revenue, Refunding RB, Subordinate, 4.00%, 10/01/40

     1,250       1,335,771  

City of Little Rock Arkansas, RB, 4.00%, 07/01/41

     2,645       2,762,925  

Pulaski County Public Facilities Board, RB, 5.00%, 12/01/42

     465       504,082  
   

 

 

  
      7,064,309  
California — 15.3%            

ABC Unified School District, GO, Series C, (NPFGC), 0.00%, 08/01/33(b)

    3,420       2,640,951  

California Housing Finance Agency, RB, M/F Housing 3.25%, 08/20/36

     743       793,615  

Series 2021-1, Class A, 3.50%, 11/20/35

     726       793,469  

California Infrastructure & Economic Development Bank, Refunding RB, Series A, 4.00%, 11/01/45

     3,330       3,454,888  

California Statewide Communities Development Authority, Refunding RB, Series A, 4.00%, 12/01/53

     725       741,262  

Carlsbad Unified School District, GO, Series B, 6.00%, 05/01/34

     1,500       1,655,795  

CMFA Special Finance Agency XII, RB, M/F Housing, Series A, 3.25%, 02/01/57(a)

    205       171,191  

CSCDA Community Improvement Authority, RB, M/F Housing(a)

    

3.13%, 06/01/57

     645       514,111  

4.00%, 06/01/58

     675       636,344  

4.00%, 12/01/58

     295       276,506  

Golden State Tobacco Securitization Corp., Refunding RB(c)

   

Series A-1, 3.50%, 06/01/22

     670       676,742  

Series A-2, 5.00%, 06/01/22

     830       842,419  

Hartnell Community College District, GO, CAB, Series D, 7.00%, 08/01/34(d)

    2,475       3,121,280  

Norman Y Mineta San Jose International Airport SJC, Refunding RB, Series A, AMT, (BAM), 4.00%, 03/01/42

     2,460       2,626,306  

Norwalk-La Mirada Unified School District, Refunding GO, CAB, Series E, (AGC), 0.00%, 08/01/38(b)

    12,000       7,221,432  

Palomar Community College District, GO, CAB

    

Series B, 0.00%, 08/01/30(b)

    2,270       1,945,317  

Series B, Convertible, 6.20%, 08/01/39(d)

    4,000       4,840,412  

San Diego Community College District, GO, CAB, 6.00%, 08/01/27(c)

    4,200       5,221,671  
Security   Par
(000)		     Value  
California (continued)            

San Diego County Regional Airport Authority, ARB

    

Series B, AMT, 4.00%, 07/01/51

   $ 215     $ 233,349  

Series B, AMT, 4.00%, 07/01/56

     225       244,156  

State of California, Refunding GO

    

5.00%, 02/01/38

           2,000       2,074,584  

4.00%, 10/01/44

     510       537,355  
   

 

 

  
      41,263,155  
Colorado — 0.5%            

Colorado Educational & Cultural Facilities Authority, Refunding RB, Class A, 5.00%, 10/01/59(a)

    970       1,046,728  

Colorado Health Facilities Authority, Refunding RB, Series A, 4.00%, 08/01/49

     295       321,616  
   

 

 

  
          1,368,344  
Connecticut — 0.8%            

Connecticut Housing Finance Authority, Refunding RB, M/F Housing, Series E-1, (HUD SECT 8), 3.25%, 11/15/54

     550       554,663  

Connecticut State Health & Educational Facilities Authority, Refunding RB, Series A, 4.00%, 07/01/41

     1,450       1,595,645  
   

 

 

  
      2,150,308  
District of Columbia — 0.9%            

Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB, Series A, 5.00%, 10/01/53

     2,505       2,519,091  
   

 

 

  
Florida — 8.7%            

Capital Trust Agency, Inc., RB, Series A, 5.00%, 06/15/49(a)

    100       107,513  

City of Tampa Florida, RB, CAB(b)

   

Series A, 0.00%, 09/01/49

     465       162,025  

Series A, 0.00%, 09/01/53

     500       145,930  

County of Miami-Dade Florida Aviation Revenue, Refunding ARB, Series A, AMT, 5.00%, 10/01/38

     365       403,763  

County of Miami-Dade Florida, RB, CAB(b)

    

0.00%, 10/01/32

     5,000       3,740,810  

0.00%, 10/01/33

     15,375       11,122,055  

County of Miami-Dade Seaport Department, ARB, Series B, AMT, 6.00%, 10/01/23(c)

    3,000       3,249,609  

County of Osceola Florida Transportation Revenue, Refunding RB, CAB(b)

   

Series A-2, 0.00%, 10/01/41

     445       234,143  

Series A-2, 0.00%, 10/01/42

     595       300,997  

Series A-2, 0.00%, 10/01/43

     540       262,347  

Series A-2, 0.00%, 10/01/44

     550       257,206  

Series A-2, 0.00%, 10/01/45

     465       209,490  

Escambia County Health Facilities Authority, Refunding RB, 4.00%, 08/15/45

     1,100       1,187,900  

Greater Orlando Aviation Authority, ARB, Sub-Series A, AMT, 5.00%, 10/01/52

     1,130       1,286,289  

Miami-Dade County Seaport Department, Refunding RB, Series A-1, AMT, (AGM), 4.00%, 10/01/45

     695       778,325  

Palm Beach County Health Facilities Authority, RB, Series B, 5.00%, 11/15/42

     125       148,012  
   

 

 

  
      23,596,414  
Georgia — 0.7%            

George L Smith II Congress Center Authority, RB, 4.00%, 01/01/54

     245       264,259  

Main Street Natural Gas, Inc., RB, Series A, 5.00%, 05/15/43

     525       609,697  
 

 

 

1  

Schedule of Investments (unaudited) (continued)

January 31, 2022

   

BlackRock Investment Quality Municipal Trust, Inc. (BKN)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Georgia (continued)            

Municipal Electric Authority of Georgia, RB

    

4.00%, 01/01/49

   $ 415     $ 453,004  

5.00%, 01/01/56

     565       651,489  
   

 

 

  
          1,978,449  
Hawaii — 1.3%            

State of Hawaii Department of Budget & Finance, Refunding RB

    

5.25%, 11/15/37

     600       617,271  

AMT, 4.00%, 03/01/37

     2,770       2,976,027  
   

 

 

  
      3,593,298  
Idaho — 1.2%            

Idaho Health Facilities Authority, RB, Series A, 5.00%, 03/01/39

           3,000       3,212,673  
   

 

 

  
Illinois — 7.1%            

Chicago Board of Education, GO

    

Series C, 5.25%, 12/01/35

     1,235       1,330,168  

Series D, 5.00%, 12/01/46

     1,635       1,750,977  

Series H, 5.00%, 12/01/36

     375       424,633  

Chicago Board of Education, Refunding GO

    

Series C, 5.00%, 12/01/25

     550       618,908  

Series C, 5.00%, 12/01/34

     370       416,308  

Series D, 5.00%, 12/01/26

     675       772,335  

Series F, 5.00%, 12/01/22

     505       522,628  

Chicago Midway International Airport, Refunding ARB, Series A, 2nd Lien, AMT, 5.00%, 01/01/41

     1,900       2,016,346  

Chicago O’Hare International Airport, Refunding RB, Series B, AMT, 4.00%, 01/01/29

     2,400       2,406,211  

Illinois Housing Development Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.13%, 10/01/38

     300       326,615  

Illinois State Toll Highway Authority, RB, Series A, 4.00%, 01/01/46

     1,545       1,747,222  

Metropolitan Pier & Exposition Authority, RB, Series A, 5.00%, 06/15/57

     590       666,643  

Metropolitan Pier & Exposition Authority, Refunding RB, 4.00%, 06/15/50

     455       482,433  

State of Illinois, GO

    

5.00%, 02/01/39

     1,000       1,065,764  

5.50%, 05/01/39

     1,610       1,949,874  

Series A, 5.00%, 04/01/38

     200       208,248  

Series D, 5.00%, 11/01/28

     1,585       1,834,722  

Upper Illinois River Valley Development Authority, Refunding RB, 5.00%, 01/01/55(a)

    610       636,080  
   

 

 

  
      19,176,115  
Iowa — 0.8%            

Iowa Finance Authority, Refunding RB, Series B, 5.25%, 12/01/50(e)

     2,050       2,198,656  
   

 

 

  
Kansas — 0.7%            

City of Lenexa Kansas, Refunding RB, Series A, 5.00%, 05/15/39

     640       688,115  

Seward County Unified School District No.480 Liberal, Refunding GO, 5.00%, 09/01/39.

     1,085       1,111,714  
   

 

 

  
      1,799,829  
Kentucky — 6.3%            

County of Boyle Kentucky, Refunding RB, 5.00%, 06/01/37

     2,000       2,324,980  
Security   Par
(000)		     Value  
Kentucky (continued)            

Kentucky Economic Development Finance Authority, RB, Series A, 5.38%, 01/01/23(c)

  $ 3,400     $ 3,540,481  

Kentucky Economic Development Finance Authority, Refunding RB, Series B, (NPFGC), 0.00%, 10/01/23(b)

    8,500       8,340,633  

Kentucky Public Transportation Infrastructure Authority, RB, CAB(d)

    

Series C, Convertible, 6.45%, 07/01/34

     1,000       1,194,534  

Series C, Convertible, 6.60%, 07/01/39

     1,395       1,661,921  
   

 

 

  
        17,062,549  
Louisiana — 0.7%            

City of Alexandria Louisiana Utilities Revenue, RB, 5.00%, 05/01/24(c)

          1,790       1,947,867  
   

 

 

  
Maine — 0.2%            

Maine State Housing Authority, RB, S/F Housing,
Series C, 3.95%, 11/15/43

     505       505,958  
   

 

 

  
Maryland — 0.2%            

Anne Arundel County Consolidated Special Taxing District, ST

    

5.13%, 07/01/36

     260       271,078  

5.25%, 07/01/44

     260       270,965  
   

 

 

  
      542,043  
Massachusetts — 2.8%            

Massachusetts Development Finance Agency, RB

    

Series A, 5.25%, 01/01/42

     900       1,022,819  

Series A, 5.00%, 01/01/47

     1,010       1,129,176  

Massachusetts Development Finance Agency, Refunding RB

    

4.00%, 07/01/39

     1,375       1,479,243  

5.00%, 04/15/40

     600       645,177  

Series A, 4.00%, 06/01/49

     235       260,424  

Massachusetts Educational Financing Authority, RB, Series C, AMT, Subordinate, 3.00%, 07/01/51

     455       432,756  

Massachusetts Housing Finance Agency, RB, M/F Housing

    

Series A, 3.85%, 06/01/46

     35       36,376  

Series C-1, 2.90%, 12/01/39

     365       368,061  

Series D-1, 2.55%, 12/01/50

     440       409,793  

Massachusetts Housing Finance Agency, Refunding RB, S/F Housing, Series 182, AMT, 3.30%, 12/01/28 .

     1,000       1,036,152  

Massachusetts Port Authority, ARB, Series E, AMT, 5.00%, 07/01/46

     700       854,715  
   

 

 

  
      7,674,692  
Michigan — 4.1%            

Michigan Finance Authority, RB, Series C-2, AMT, Senior Lien, 5.00%, 07/01/22(c)

    360       366,603  

Michigan Finance Authority, Refunding RB, 4.00%, 11/15/46

     900       958,537  

Michigan State Hospital Finance Authority, Refunding RB, Series C, 4.00%, 06/01/22(c)

    4,150       4,198,318  

Michigan State Housing Development Authority, RB, M/F Housing, Series A-1, 3.35%, 10/01/49

     3,245       3,329,831  

Michigan State Housing Development Authority, RB, S/F Housing

    

Series A, 4.00%, 06/01/49

     270       274,495  
 

 

 

S C H E D U L E   O F  I N V E S T M E N T S   2

Schedule of Investments (unaudited) (continued)

January 31, 2022

   

BlackRock Investment Quality Municipal Trust, Inc. (BKN)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Michigan (continued)            

Michigan State Housing Development Authority, RB, S/F Housing (continued)

    

Series B, 2.95%, 12/01/39

   $ 375     $ 376,804  

Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43

     1,250       1,435,936  
   

 

 

  
        10,940,524  
Minnesota — 1.5%            

City of Otsego MN, Refunding RB, COP, Series A, 5.00%, 09/01/44

     700       727,892  

City of Spring Lake Park Minnesota, RB, 5.00%,
06/15/39

           1,760       1,898,112  

Housing & Redevelopment Authority of The City of St. Paul Minnesota, RB, Series A, 5.50%, 07/01/52(a)

    305       334,998  

Minneapolis-St. Paul Metropolitan Airports Commission, Refunding RB, Sub Series D, AMT, 5.00%, 01/01/41 .

     460       527,759  

Minnesota Higher Education Facilities Authority, RB, Series 8-K, 4.00%, 03/01/43

     615       644,235  
   

 

 

  
      4,132,996  
Missouri — 2.7%            

Health & Educational Facilities Authority of the State of Missouri, RB
4.13%, 02/15/43

     700       701,675  

Series A, 5.00%, 10/01/23(c)

    750       799,787  

Series A, 5.00%, 06/01/42

     860       995,583  

Series A, 5.00%, 06/01/47

     1,230       1,420,516  

Series C-2, 5.00%, 10/01/34

     1,500       1,590,846  

Kansas City Industrial Development Authority, ARB, AMT, (AGM), 4.00%, 03/01/57

     1,015       1,116,447  

Missouri Housing Development Commission, RB, S/F Housing, (FHLMC, FNMA, GNMA), 2.20%, 11/01/46 .

     625       542,536  
   

 

 

  
      7,167,390  
Nebraska — 0.6%            

Central Plains Energy Project, RB, 5.00%, 09/01/42

     900       920,452  

Douglas County Hospital Authority No.3, Refunding RB, 5.00%, 11/01/45

     600       659,626  
   

 

 

  
      1,580,078  
Nevada — 0.6%            

County of Clark Department of Aviation, Refunding RB, Series A-2, Sub Lien, 4.25%, 07/01/36

     1,500       1,594,788  

Nevada Department of Business & Industry, RB, Series A, 5.00%, 07/15/37(a)

    125       133,394  
   

 

 

  
      1,728,182  
New Hampshire(a) — 0.3%            

New Hampshire Business Finance Authority, Refunding RB
Series B, 4.63%, 11/01/42

     505       521,520  

Series C, AMT, 4.88%, 11/01/42

     220       227,955  
   

 

 

  
      749,475  
New Jersey — 7.6%            

Middlesex County Improvement Authority, RB, Series B, 6.25%, 01/01/37(f)(g)

    1,510       30,200  

New Jersey Economic Development Authority, RB

    

Series B, 4.50%, 06/15/40

     1,930       2,185,700  

Series DDD, 5.00%, 06/15/42

     160       181,217  

AMT, (AGM), 5.13%, 07/01/42

     300       318,444  

Series B, AMT, 5.63%, 11/15/30

     990       1,068,981  

New Jersey Health Care Facilities Financing Authority, Refunding RB, Series A, 5.00%, 07/01/22(c)

    500       508,941  
Security   Par
(000)		     Value  
New Jersey (continued)            

New Jersey Higher Education Student Assistance Authority, RB, Series B, AMT, 3.50%, 12/01/39

   $ 1,120     $ 1,188,974  

New Jersey Higher Education Student Assistance Authority, Refunding RB, Series B, AMT, 3.25%, 12/01/39

           1,970           2,051,656  

New Jersey Transportation Trust Fund Authority, RB

    

Series AA, 5.00%, 06/15/38

     290       312,682  

Series AA, 5.00%, 06/15/45

     2,055       2,311,224  

Series AA, 5.00%, 06/15/46

     600       651,895  

Series AA, 3.00%, 06/15/50

     360       355,286  

New Jersey Transportation Trust Fund Authority, RB, CAB, Series A, 0.00%, 12/15/35(b)

    1,600       1,056,371  

New Jersey Transportation Trust Fund Authority, Refunding RB
4.00%, 12/15/39

     820       904,102  

Series A, 5.00%, 12/15/36

     240       280,601  

Series A, 5.00%, 06/15/42

     395       400,126  

New Jersey Turnpike Authority, RB, Series E, 5.00%, 01/01/45

     820       896,586  

South Jersey Transportation Authority, RB, Series A, 4.00%, 11/01/50

     455       502,430  

Tobacco Settlement Financing Corp., Refunding RB, Sub-Series B, 5.00%, 06/01/46

     4,770       5,369,355  
   

 

 

  
      20,574,771  
New Mexico — 0.3%            

New Mexico Hospital Equipment Loan Council, Refunding RB, Series VIC, 5.00%, 08/01/44

     680       753,696  
   

 

 

  
New York — 8.4%            

Erie Tobacco Asset Securitization Corp., Refunding RB, Series A, 5.00%, 06/01/45

     1,825       1,836,062  

Metropolitan Transportation Authority, Refunding RB

    

Series A, 5.00%, 11/15/41

     30       30,800  

Series C-1, 4.75%, 11/15/45

     1,700       1,942,464  

Series C-1, 5.00%, 11/15/50

     550       632,012  

Series C-1, 5.25%, 11/15/55

     810       945,746  

Series C-1, 5.00%, 11/15/56

     320       349,240  

Series D, 5.00%, 11/15/31

     650       742,369  

New York City Housing Development Corp., RB, M/F Housing, Series I-1, (FHA), 2.55%, 11/01/45

     1,940       1,817,262  

New York Counties Tobacco Trust IV, Refunding RB, Series A, 6.25%, 06/01/41(a)

    1,400       1,420,797  

New York Counties Tobacco Trust VI, Refunding RB, Series C, 4.00%, 06/01/51

     1,000       1,015,499  

New York Liberty Development Corp., Refunding RB

    

Series 2, Class 2, 5.15%, 11/15/34(a)

    640       702,521  

Series A, 2.88%, 11/15/46

     3,550       3,383,732  

New York Power Authority, Refunding RB,
Series A, 4.00%, 11/15/60

     350       388,777  

New York State Housing Finance Agency, RB, M/F Housing, Series L-1, (SONYMA), 2.50%, 11/01/45

     2,635       2,416,638  

New York Transportation Development Corp., RB

    

AMT, 5.00%, 10/01/35

     315       376,817  

AMT, 5.00%, 10/01/40

     900       1,064,384  

Port Authority of New York & New Jersey, Refunding ARB

    

Consolidated, 186th Series, AMT, 5.00%, 10/15/36

     470       513,462  

Consolidated, 186th Series, AMT, 5.00%, 10/15/44

     950       1,029,531  
 

 

 

3  

Schedule of Investments (unaudited) (continued)

January 31, 2022

   

BlackRock Investment Quality Municipal Trust, Inc. (BKN)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
New York (continued)            

State of New York Mortgage Agency, RB, S/F Housing, Series 239, (SONYMA), 2.60%, 10/01/44

   $ 730     $ 700,529  

Westchester Tobacco Asset Securitization Corp., Refunding RB, Sub-Series C, 5.13%, 06/01/51

     1,160       1,292,138  
   

 

 

  
        22,600,780  
North Carolina — 0.3%            

North Carolina Medical Care Commission, RB, 4.00%, 11/01/52

     630       703,454  
   

 

 

  
Ohio — 3.5%            

Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55 .

           3,785       4,145,976  

City of Dayton Ohio Airport Revenue, Refunding RB, Series A, AMT, (AGM), 4.00%, 12/01/32

     3,000       3,030,474  

County of Montgomery Ohio, Refunding RB, 4.00%, 11/15/42

     1,050       1,143,007  

Montgomery County, Refunding RB, 4.00%, 08/01/51

     675       752,978  

Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(a)

    350       388,970  

Ohio Housing Finance Agency, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.00%, 09/01/48 .

     25       26,109  
   

 

 

  
      9,487,514  
Oklahoma — 0.9%            

Oklahoma City Public Property Authority, Refunding RB
5.00%, 10/01/36

     800       902,553  

5.00%, 10/01/39

     280       315,384  

Oklahoma Development Finance Authority, RB,
Series B, 5.50%, 08/15/52

     680       812,186  

Oklahoma Turnpike Authority, RB, Series A, 4.00%, 01/01/48

     420       468,178  
   

 

 

  
      2,498,301  
Oregon — 1.4%            

Oregon Health & Science University, RB, Series A, 4.00%, 07/01/37

     575       638,927  

Oregon State Facilities Authority, Refunding RB,
Series A, 5.00%, 04/01/45

     2,485       2,726,743  

State of Oregon Housing & Community Services Department, RB, S/F Housing, Series C, 3.95%, 07/01/43

     400       411,428  
   

 

 

  
      3,777,098  
Pennsylvania — 10.1%            

City of Philadelphia Pennsylvania Airport Revenue, Refunding ARB, Series B, AMT, 5.00%, 07/01/35

     575       661,844  

Commonwealth Financing Authority, RB, (AGM), 4.00%, 06/01/39

     2,785       3,099,535  

Delaware River Port Authority, RB, 4.50%, 01/01/32

     3,000       3,190,161  

Mckeesport Area School District, Refunding GO, CAB, (FGIC, SAW), 0.00%,
10/01/31(b)(h)

    500       401,880  

Montgomery County Higher Education and Health Authority, Refunding RB, Series A, 4.00%, 09/01/49

     565       598,810  

Montgomery County, Refunding RB, 4.00%, 05/01/52

     925       1,006,751  

Pennsylvania Economic Development Financing Authority, RB

    

Series A-1, 4.00%, 04/15/50

     780       866,945  

AMT, 5.00%, 12/31/38

     1,610       1,805,266  

Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, 5.50%, 11/01/44

     810       847,937  
Security   Par
(000)		     Value  
Pennsylvania (continued)            

Pennsylvania Higher Education Assistance Agency, RB, Series B, AMT, Subordinate, 3.00%, 06/01/47

   $ 155     $ 141,489  

Pennsylvania Housing Finance Agency, RB, S/F Housing, Series 128B, AMT, 3.85%, 04/01/38

           1,505       1,597,592  

Pennsylvania Turnpike Commission, RB

    

Series C, 5.00%, 12/01/39

     850       933,318  

Series A, Subordinate, 4.00%, 12/01/49

     710       783,719  

Sub-Series A-1, Subordinate, 5.00%, 12/01/41

     2,735       3,046,153  

Pottsville Hospital Authority, Refunding RB, Series B, 5.00%, 07/01/45

     2,000       2,279,856  

School District of Philadelphia, GO, Series A, (SAW), 4.00%, 09/01/46

     505       563,640  

School District of Philadelphia, Refunding GO, Series F, (SAW), 5.00%, 09/01/37

     800       914,330  

State Public School Building Authority, Refunding RB, Series A, (SAW), 5.00%, 06/01/34

     3,825       4,432,115  
   

 

 

  
        27,171,341  
Puerto Rico — 6.2%            

Children’s Trust Fund, Refunding RB
5.50%, 05/15/39

     495       508,734  

5.63%, 05/15/43

     530       540,729  

Puerto Rico Commonwealth Aqueduct & Sewer Authority, Refunding RB

    

Series A, Senior Lien, 5.00%, 07/01/33

     2,145       2,183,942  

Series A, Senior Lien, 5.13%, 07/01/37

     615       626,358  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB

    

Series A-1, Restructured, 4.75%, 07/01/53

     1,593       1,743,002  

Series A-1, Restructured, 5.00%, 07/01/58

     6,444       7,169,723  

Series A-2, Restructured, 4.33%, 07/01/40

     861       934,616  

Series A-2, Restructured, 4.78%, 07/01/58

     1,459       1,602,040  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(b)

    4,827       1,561,153  
   

 

 

  
      16,870,297  
Rhode Island — 3.6%            

Rhode Island Health and Educational Building Corp., Refunding RB, Series A, (AGM, GTD), 3.75%, 05/15/32

     1,845       2,015,432  

Rhode Island Student Loan Authority, RB, Series A, AMT, 3.63%, 12/01/37

     1,450       1,464,327  

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.00%, 06/01/40

     1,000       1,086,094  

Series B, 4.50%, 06/01/45

     2,725       2,890,947  

Series B, 5.00%, 06/01/50

     2,000       2,172,648  
   

 

 

  
      9,629,448  
South Carolina — 2.4%            

South Carolina Jobs-Economic Development Authority, RB, 5.00%, 01/01/55(a)

    755       771,797  

South Carolina Jobs-Economic Development Authority, Refunding RB, Series A, 5.00%, 05/01/38

     1,895       2,216,974  

South Carolina Public Service Authority, RB, Series E, 5.00%, 12/01/48

     2,125       2,265,499  

South Carolina State Housing Finance & Development Authority, RB, S/F Housing, Series A, 2.25%, 07/01/46

     1,195       1,078,474  
   

 

 

  
      6,332,744  
 

 

 

S C H E D U L E   O F  I N V E S T M E N T S   4

Schedule of Investments (unaudited) (continued)

January 31, 2022

   

BlackRock Investment Quality Municipal Trust, Inc. (BKN)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Tennessee — 4.1%            

Chattanooga Health Educational & Housing Facility Board, RB, Series A, 5.25%, 01/01/23(c)

  $ 2,945     $ 3,069,653  

Chattanooga-Hamilton County Hospital Authority, Refunding RB, Series A, 5.00%, 10/01/44

     875       937,920  

Greeneville Health & Educational Facilities Board, Refunding RB, Series A, 4.00%, 07/01/40

     615       679,345  

Johnson City Health & Educational Facilities Board, RB, Series A, 5.00%, 08/15/42

     1,200       1,222,166  

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB

    

Series A, 5.00%, 07/01/40

     1,075       1,212,596  

Series A, 5.00%, 07/01/46

     945       1,062,211  

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Refunding RB, Series A, 5.25%, 10/01/58

           2,480           2,834,645  
   

 

 

  
      11,018,536  
Texas — 9.3%            

Brazos Higher Education Authority, Inc., RB, Series 1B, AMT, Subordinate, 3.00%, 04/01/40

     105       93,513  

Central Texas Turnpike System, RB

    

Series C, 5.00%, 08/15/37

     1,970       2,142,613  

Series C, 5.00%, 08/15/42

     1,480       1,604,607  

City of Houston Texas Airport System Revenue, Refunding RB

    

Sub-Series A, AMT, 4.00%, 07/01/39

     400       451,506  

Sub-Series A, AMT, 4.00%, 07/01/40

     320       359,941  

Sub-Series A, AMT, 4.00%, 07/01/47

     310       337,625  

Harris County-Houston Sports Authority, Refunding RB, CAB, Series A, Senior Lien, (AGM, NPFGC), 0.00%, 11/15/38(b)

    5,000       2,329,225  

Leander Independent School District, Refunding GO, CAB(b)

   

Series D, (PSF), 0.00%, 08/15/24(c)

    550       319,190  

Series D, (PSF), 0.00%, 08/15/35

     5,450       3,139,358  

Midland County Fresh Water Supply District No.1, RB, CAB, Series A, 0.00%, 09/15/38(b)

    16,780       8,530,482  

North Texas Tollway Authority, Refunding RB, 4.25%, 01/01/49

     930       1,022,395  

Red River Education Finance Corp., RB, 5.25%, 03/15/23(c)

    1,140       1,196,073  

Tarrant County Cultural Education Facilities Finance Corp., RB, Series B, 5.00%, 07/01/35

     565       678,023  

Texas Department of Housing & Community Affairs, RB, S/F Housing 3.13%, 07/01/47(i)

    795       800,974  

Series A, (GNMA), 4.25%, 09/01/43

     240       251,918  

Texas Transportation Commission, RB, CAB(b) 0.00%, 08/01/35

     420       259,519  

0.00%, 08/01/36

     235       137,701  

0.00%, 08/01/37

     305       168,811  

0.00%, 08/01/38

     315       165,058  

0.00%, 08/01/44

     1,370       518,600  

0.00%, 08/01/45

     1,800       646,436  
   

 

 

  
      25,153,568  
Security   Par
(000)		     Value  
Utah — 0.5%            

Utah Charter School Finance Authority, Refunding RB 5.25%, 06/15/37(a)

  $ 205     $ 222,046  

(UT), 4.00%, 04/15/42

     600       623,971  

5.38%, 06/15/48(a)

    260       278,750  

Utah Housing Corp., RB, S/F Housing, Series D-2, Class III, (FHA), 4.00%, 01/01/36.

     250       258,942  
   

 

 

  
          1,383,709  
Vermont — 0.1%            

Vermont Student Assistance Corp., RB, Series A, AMT, 4.25%, 06/15/32

     295       301,126  
   

 

 

  
Virginia — 2.1%            

Ballston Quarter Community Development Authority, TA, Series A, 5.38%, 03/01/36

     780       778,709  

Lynchburg Economic Development Authority, Refunding RB, 4.00%, 01/01/55

     100       110,336  

Tobacco Settlement Financing Corp., Refunding RB, Series B-1, 5.00%, 06/01/47

           1,030       1,037,574  

Virginia Housing Development Authority, RB, M/F Housing, Series E, 3.15%, 12/01/49

     1,515       1,520,189  

Virginia Small Business Financing Authority, RB, AMT, 5.00%, 01/01/48(a)(e)

    745       772,715  

Virginia Small Business Financing Authority, Refunding RB, AMT, Senior Lien, 6.00%, 01/01/37

     1,440       1,468,332  
   

 

 

  
      5,687,855  
Washington — 1.9%            

King County Housing Authority, Refunding RB, 3.00%, 06/01/40

     725       739,636  

Port of Seattle Washington, ARB, Series A, AMT, 5.00%, 05/01/43

     625       714,371  

Port of Seattle Washington, Refunding ARB, Series C, AMT, 5.00%, 08/01/46

     1,905       2,309,714  

Washington Health Care Facilities Authority, Refunding RB, 5.00%, 09/01/55

     470       556,354  

Washington State Housing Finance Commission, RB, M/F Housing, Series A-1, 3.50%, 12/20/35

     757       797,578  
   

 

 

  
      5,117,653  
West Virginia — 0.3%            

West Virginia Hospital Finance Authority, RB, Series A, 4.00%, 06/01/51

     730       787,458  
   

 

 

  
Wisconsin — 2.4%            

Public Finance Authority, RB(a)

   

Series A, 5.00%, 06/01/36

     100       108,983  

Series A, 5.00%, 10/15/50

     875       933,008  

Series A, 5.00%, 06/01/51

     320       340,851  

Series A, 5.00%, 06/01/61

     405       429,238  

Public Finance Authority, Refunding RB, AMT, 4.00%, 08/01/35

     435       433,614  

Wisconsin Health & Educational Facilities Authority, RB, 4.00%, 08/15/51

     1,590       1,751,224  

Wisconsin Housing & Economic Development Authority, RB, S/F Housing

    

Series A, 1.80%, 03/01/31

     100       94,612  

Series A, 1.85%, 09/01/31

     80       75,573  

Series A, 1.90%, 03/01/32

     150       141,515  

Series A, 1.95%, 09/01/32

     110       103,701  
 

 

 

5  

Schedule of Investments (unaudited) (continued)

January 31, 2022

   

BlackRock Investment Quality Municipal Trust, Inc. (BKN)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Wisconsin (continued)            

Wisconsin Housing & Economic Development Authority, Refunding RB, M/F Housing

    

Series A, (HUD SECT 8), 2.05%, 11/01/36

   $ 280     $ 261,457  

Series A, (HUD SECT 8), 2.25%, 11/01/41

     195       179,366  

Series A, (HUD SECT 8), 2.45%, 11/01/46

     290       264,885  

WPPI Energy, Refunding RB, Series A, 5.00%, 07/01/37

           1,330       1,442,313  
   

 

 

  
      6,560,340  
   

 

 

  

Total Municipal Bonds — 131.8%
(Cost: $324,698,936)

       356,121,504  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(j)

 

California — 0.5%        

Los Angeles Unified School District, GO, Series B-1, 5.25%, 07/01/42(k)

    1,182       1,410,411  
   

 

 

  
Colorado — 0.8%            

City & County of Denver Colorado Airport System Revenue, Refunding ARB, Series A, AMT, 5.25%, 12/01/48(k)

    1,769       2,102,499  
   

 

 

  
Connecticut — 1.6%            

Connecticut State Health & Educational Facilities Authority, Refunding RB, 5.00%, 12/01/45

     3,902       4,409,643  
   

 

 

  
District of Columbia — 0.8%            

District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2, (FHA), 4.10%, 09/01/39

     2,102       2,249,020  
   

 

 

  
Florida — 1.7%            

Greater Orlando Aviation Authority, ARB, Series A, AMT, 4.00%, 10/01/49

     1,860       2,049,181  

Pinellas County School Board, COP, Series A, 5.00%, 07/01/41

     2,120       2,460,908  
   

 

 

  
      4,510,089  
Georgia — 1.1%            

Georgia Housing & Finance Authority, Refunding RB, Series A, 3.70%, 06/01/49

     1,509       1,600,928  

Georgia Ports Authority, RB, 4.00%, 07/01/51(k)

    1,306       1,499,004  
   

 

 

  
      3,099,932  
Louisiana — 0.5%            

State of Louisiana Gasoline & Fuels Tax Revenue, Refunding RB, Series A, 1st Lien, 4.00%, 05/01/25(c) .

     1,200       1,307,473  
   

 

 

  
Maryland — 1.2%            

Maryland Stadium Authority, RB, 5.00%, 05/01/42

     2,760       3,233,353  
   

 

 

  
Massachusetts — 1.3%            

Commonwealth of Massachusetts, GO, Series A, 5.00%, 01/01/46

     3,018       3,555,168  
   

 

 

  
Michigan — 2.0%            

Michigan Finance Authority, RB, 4.00%, 02/15/47

     2,759       3,052,406  

Michigan State Housing Development Authority, RB, M/F Housing, Series A, 4.05%, 10/01/48

     2,142       2,268,586  
   

 

 

  
      5,320,992  
Minnesota — 1.9%            

State of Minnesota, RB, Series A, 5.00%, 06/01/38

     5,000       5,223,913  
   

 

 

  
Security   Par
(000)		     Value  
Nevada — 1.0%            

County of Clark Nevada, GO, Series A, 5.00%, 06/01/38

   $ 2,311     $ 2,745,950  
   

 

 

  
New Jersey — 0.7%            

New Jersey Turnpike Authority, Refunding RB, Series G, 4.00%, 01/01/43

           1,606       1,769,976  
   

 

 

  
New York — 6.5%            

City of New York, Refunding GO, Series B, 4.00%, 08/01/32

     1,600       1,699,577  

New York City Housing Development Corp., Refunding RB, Series A, 4.15%, 11/01/38

     1,650       1,760,636  

New York City Transitional Finance Authority Building Aid Revenue, RB, Series S-1, (SAW), 4.00%, 07/15/42(k)

    2,145       2,171,757  

New York City Water & Sewer System, Refunding RB

    

Series BB, 4.00%, 06/15/47

     6,000       6,116,936  

Series CC, 5.00%, 06/15/23(c)

    1,880       1,978,246  

Series CC, 5.00%, 06/15/47

     2,120       2,231,060  

Port Authority of New York & New Jersey, ARB, Series 221, AMT, 4.00%, 07/15/60

     1,394       1,513,626  
   

 

 

  
        17,471,838  
Ohio(k) — 0.7%            

Northeast Ohio Regional Sewer District, Refunding RB
4.00%, 11/15/24(c)

    1,066       1,136,271  

4.00%, 11/15/49

     734       782,386  
   

 

 

  
      1,918,657  
Pennsylvania — 1.3%            

Commonwealth of Pennsylvania, GO, 1st Series,
4.00%, 03/01/36(k)

    2,399       2,695,375  

Philadelphia Authority for Industrial Development, RB, Series A, 4.00%, 07/01/44

     914       946,438  
   

 

 

  
      3,641,813  
Texas — 5.0%            

Aldine Independent School District, Refunding GO, (PSF-GTD), 5.00%, 02/15/42

     2,609       3,021,832  

City of San Antonio Texas Electric & Gas Systems Revenue, RB, Junior Lien, 5.00%, 02/01/23(c)

    2,380       2,479,219  

Houston Community College System, GO, 4.00%, 02/15/23(c)

    2,160       2,231,058  

Howe Independent School District, GO, (PSF-GTD), 4.00%, 08/15/43

     1,680       1,825,472  

San Antonio Public Facilities Corp., Refunding RB, 4.00%, 09/15/42

     1,409       1,428,738  

Texas Department of Housing & Community Affairs, RB, S/F Housing

    

Series A, (GNMA), 3.63%, 09/01/44

     698       727,263  

Series A, (GNMA), 3.00%, 09/01/45

     494       490,953  

Series A, (GNMA), 3.75%, 09/01/49

     383       398,725  

Series A, (GNMA), 3.00%, 03/01/50

     936       930,245  
   

 

 

  
      13,533,505  
 

 

 

S C H E D U L E   O F  I N V E S T M E N T S   6

Schedule of Investments (unaudited) (continued)

January 31, 2022

   

BlackRock Investment Quality Municipal Trust, Inc. (BKN)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Washington — 0.9%            

Washington Health Care Facilities Authority, Refunding RB, Series B, 4.13%, 08/15/43

   $ 2,213     $ 2,343,177  
     

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 29.5%
(Cost: $76,443,200)

       79,847,409  
     

 

 

  

Total Long-Term Investments — 161.3%
(Cost: $401,142,136)

       435,968,913  
     

 

 

  
          Shares         

Short-Term Securities

    

Money Market Funds — 2.8%

 

  

BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.01%(l)(m)

    7,522,485       7,522,485  
     

 

 

  

Total Short-Term Securities — 2.8%
(Cost: $7,523,200)

       7,522,485  
     

 

 

  

Total Investments — 164.1%
(Cost: $408,665,336)

       443,491,398  

Other Assets Less Liabilities — 0.2%

       354,609  

Liability for TOB Trust Certificates, Including
Interest Expense and Fees Payable — (17.7)%.

 

     (47,751,540 ) 

VMTP Shares at Liquidation Value — (46.6)%

 

     (125,900,000 ) 
     

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 270,194,467  
     

 

 

  

 

(a)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(b)

Zero-coupon bond.

(c)

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.

 

(d)

Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

(e)

Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

(f)

Issuer filed for bankruptcy and/or is in default.

(g)

Non-income producing security.

(h)

Security is collateralized by municipal bonds or U.S. Treasury obligations.

(i)

When-issued security.

(j)

Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing.

(k)

All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire between May 2, 2022 to July 1, 2029, is $7,302,485.

(l)

Affiliate of the Trust.

(m) 

Annualized 7-day yield as of period end.

 

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended January 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer    Value at
04/30/21 		     Purchases
at Cost 		     Proceeds
from Sales
      Net
Realized
Gain (Loss)
      Change in
Unrealized
Appreciation
(Depreciation)
      Value at
01/31/22 		     Shares
Held at
01/31/22 		     Income
      Capital Gain
Distributions
from
Underlying
Funds 		 

BlackRock Liquidity Funds, MuniCash, Institutional Class

    $ 7,420,831      $ 102,450 (a)     $ —      $ (81 )     $ (715 )     $ 7,522,485        7,522,485      $ 156      $ —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  

 

(a) 

Represents net amount purchased (sold).

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

 

Description    Number of
Contracts 		     Expiration
Date 		     Notional
Amount (000)
      Value/
Unrealized
Appreciation
(Depreciation)
  

Short Contracts
10-Year U.S. Treasury Note

      96        03/22/22      $ 12,285      $ 151,884  

U.S. Long Bond

      53        03/22/22        8,243        155,126  

5-Year U.S. Treasury Note

      100        03/31/22        11,922        114,522  
           

 

 

  
            $ 421,532  
           

 

 

  

 

 

7  

Schedule of Investments (unaudited) (continued)

January 31, 2022

   

BlackRock Investment Quality Municipal Trust, Inc. (BKN)

 

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access;

 

  •  

Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

 

  •  

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments 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 financial instruments, refer to its most recent financial statements.

The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy. The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

      Level 1      Level 2      Level 3      Total  

Assets

            

Investments

            

Long-Term Investments

            

Municipal Bonds

    $ —      $ 356,121,504      $ —      $ 356,121,504  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —        79,847,409        —        79,847,409  

Short-Term Securities

            

Money Market Funds

      7,522,485        —        —        7,522,485  
  

 

 

     

 

 

     

 

 

     

 

 

  
   $     7,522,485      $  435,968,913      $                 —      $  443,491,398  
  

 

 

     

 

 

     

 

 

     

 

 

  

Derivative Financial Instruments(a)

           

Assets

            

Interest Rate Contracts

    $ 421,532      $ —      $ —      $ 421,532  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a) 

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows:

 

      Level 1      Level 2      Level 3      Total  

Liabilities

            

TOB Trust Certificates

    $ —      $ (47,740,672 )     $ —      $ (47,740,672 ) 

VMTP Shares at Liquidation Value

      —        (125,900,000 )       —        (125,900,000 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  
   $                   —      $ (173,640,672 )     $                 —      $ (173,640,672 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

 

Portfolio Abbreviation
AGC    Assured Guaranty Corp.
AGM    Assured Guaranty Municipal Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAM    Build America Mutual Assurance Co.
CAB    Capital Appreciation Bonds
COP    Certificates of Participation
Portfolio Abbreviation (continued)
FGIC    Financial Guaranty Insurance Co.
FHA    Federal Housing Administration
FHLMC    Federal Home Loan Mortgage Corp.
FNMA    Federal National Mortgage Association
GNMA    Government National Mortgage Association
GO    General Obligation Bonds
GTD    GTD Guaranteed
 

 

 

S C H E D U L E   O F  I N V E S T M E N T S   8

Schedule of Investments (unaudited) (continued)

January 31, 2022

   

BlackRock Investment Quality Municipal Trust, Inc. (BKN)

 

 

Portfolio Abbreviation (continued)

HUD SECT 8    U.S. Department of Housing and Urban
    Development Section 8
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
PSF    Permanent School Fund
PSF-GTD    Permanent School Fund Guaranteed
RB    Revenue Bond
S/F    Single-Family
SAW    State Aid Withholding
SONYMA    State of New York Mortgage Agency
ST    Special Tax
TA    Tax Allocation
UT    Unlimited Tax
 

 

 

9