UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

 

Investment Company Act file number 811-07354

 

Name of Fund: BlackRock Investment Quality Municipal Trust, Inc. (BKN)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Investment Quality Municipal Trust, Inc., 55 East 52nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 04/30/2013

 

Date of reporting period: 01/31/2013

 

Item 1 – Schedule of Investments

 
 
Schedule of Investments January 31, 2013 (Unaudited)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

(Percentages shown are based on Net Assets)

    Par
(000)		   Value  
Municipal Bonds  
Alabama — 3.3%  
Birmingham Special Care Facilities Financing Authority, RB, Children's Hospital (AGC):  
  6.00%, 6/01/34 $ 1,745 $ 2,041,423  
  6.00%, 6/01/39   500   584,935  
Birmingham Water Works Board, RB, 4.75%, 1/01/36   3,150   3,454,353  
Hoover City Board of Education, Special Tax, Refunding, 4.25%, 2/15/40   3,050   3,254,350  
  9,335,061  
Arizona — 8.1%  
Arizona Health Facilities Authority, Refunding RB, Phoenix Children's Hospital, Series A, 5.00%, 2/01/42   3,300   3,557,730  
Arizona Sports & Tourism Authority, RB, Multipurpose Stadium Facilities, Series A (NPFGC), 5.00%, 7/01/13 (a)   750   764,828  
Arizona State University, RB, Series D, 5.50%, 7/01/26   475   573,591  
County of Pinal Arizona Election District No. 3, Refunding RB, 4.75%, 7/01/31   3,750   4,109,137  
Pima County IDA, Refunding IDRB, Tucson Electric Power, 5.75%, 9/01/29   1,375   1,455,355  
Salt Verde Financial Corp., RB, Senior:  
  5.00%, 12/01/32   1,035   1,199,172  
  5.00%, 12/01/37   4,585   5,262,938  
San Luis Facility Development Corp., RB, Senior Lien, Regional Detention Center Project:  
  6.25%, 5/01/15   305   303,887  
  7.00%, 5/01/20   490   498,869  
  7.25%, 5/01/27   980   943,711  
State of Arizona, COP, Department of Administration, Series A (AGM), 5.00%, 10/01/29   1,100   1,250,502  
University Medical Center Corp. Arizona, RB, 6.50%, 7/01/39   750   868,942  
University Medical Center Corp. Arizona, Refunding RB, 6.00%, 7/01/39   1,600   1,853,968  
  22,642,630  
Arkansas — 1.2%  
City of Conway Arkansas, RB, Wastewater Revenue Improvement, Series A, 4.20%, 10/01/37   750   788,550  
City of Springdale Arizona, RB, Sales and Tax Use:  
  3.00%, 11/01/30   975   945,623  
  3.00%, 11/01/31   1,520   1,462,772  
  3,196,945  
     
    Par
(000)		   Value  
Municipal Bonds  
California — 23.8%  
California County Tobacco Securitization Agency, RB, CAB, Stanislaus, Sub-Series C, 11.06%, 6/01/55 (b) $ 7,090 $ 74,516  
California Educational Facilities Authority, Refunding RB, 5.00%, 2/01/40   3,000   3,356,220  
California Health Facilities Financing Authority, RB, Sutter Health, Series B, 5.88%, 8/15/31   2,300   2,786,335  
Carlsbad Unified School District, GO, Election of 2006, Series B, 4.89%, 5/01/34 (c)   1,500   1,238,160  
City of Manteca California Sewer, Refunding RB, 4.00%, 12/01/33   1,500   1,577,205  
City of San Jose California, Refunding ARB, Series A-1, AMT, 5.75%, 3/01/34   3,000   3,480,720  
County of Sacramento California, RB, Senior Series A (AGM), 5.00%, 7/01/41   2,100   2,285,157  
Dinuba Unified School District, GO, Election of 2006 (AGM):  
  5.63%, 8/01/31   250   289,293  
  5.75%, 8/01/33   535   621,986  
Foothill Eastern Transportation Corridor Agency California, Refunding RB:  
  5.75%, 1/15/40   3,495   3,496,538  
  CAB, 5.88%, 1/15/28   7,000   7,212,800  
Hartnell Community College District California, GO, CAB, Election of 2002, Series D, 4.84%, 8/01/34 (c)   2,475   1,878,748  
Norwalk-La Mirada Unified School District California, GO, CAB, Refunding, Election of 2002, Series E (AGC), 4.82%, 8/01/38 (b)   12,000   3,566,640  
Palomar Community College District, GO, CAB, Election of 2006, Series B:  
  4.34%, 8/01/30 (b)   2,270   1,070,804  
  5.53%, 8/01/33 (b)   4,250   1,389,835  
  4.69%, 8/01/39 (c)   3,000   1,938,000  
San Diego Community College District California, GO, CAB, Election of 2002, 4.71%, 8/01/19 (c)   4,200   3,508,008  
San Jose Evergreen Community College District, GO, Election of 2010,     Series B, 3.50%, 8/01/32   1,800   1,845,126  
State of California, GO, Various Purpose:  
  5.75%, 4/01/31   3,000   3,553,890  
  6.00%, 3/01/33   2,270   2,822,768  
  6.50%, 4/01/33   2,900   3,605,860  
  5.50%, 3/01/40   3,650   4,266,339  
  (CIFG), 5.00%, 3/01/15 (a)   515   564,213  
  (CIFG), 5.00%, 3/01/33   4,485   4,802,403  
                     
BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JANUARY 31, 2013    1
 
Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

(Percentages shown are based on Net Assets)

    Par
(000)		   Value  
Municipal Bonds  
California (concluded)  
State of California, GO, Refunding, Various Purpose (NPFGC), 5.00%, 6/01/37 $ 5,000    $ 5,503,700  
  66,735,264  
Colorado  — 0.3%  
Park Creek Metropolitan District, Refunding RB, Senior Limited Property Tax (AGM), 6.00%, 12/01/38   750   877,448  
Connecticut — 1.0%  
Connecticut State Health & Educational Facilities Authority, Refunding RB:  
  Hartford Healthcare, Series A, 5.00%, 7/01/32   1,000   1,110,820  
  Lawrence & Memorial Hospital, Series F, 5.00%, 7/01/36   950   1,050,890  
  Sacred Heart University,  Series G, 5.38%, 7/01/31   600      668,424  
  2,830,134  
Delaware  — 0.7%  
County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Project, 6.00%, 10/01/40   1,800   2,035,422  
Florida — 12.5%  
County of Lee Florida, Refunding RB, Lee Airport, Series A, AMT (AGM), 5.00%, 10/01/28   3,000   3,348,390  
County of Miami-Dade Florida, RB, CAB, Sub-Series A (NPFGC) (b):  
  4.83%, 10/01/32   5,000   1,955,100  
  5.12%, 10/01/32   4,225   1,562,870  
  4.86%, 10/01/33   15,375   5,699,359  
  5.14%, 10/01/33   4,000   1,400,920  
  5.15%, 10/01/34   4,580   1,521,659  
  5.16%, 10/01/35   5,000   1,574,400  
County of Orange Florida, Refunding RB (Syncora), 4.75%, 10/01/32   5,000   5,407,350  
Hillsborough County IDA, RB, National Gypsum Co., AMT, 7.13%, 4/01/30   3,700   3,703,737  
Orange County Health Facilities Authority, Refunding RB, Mayflower Retirement Center, 5.00%, 6/01/32   200   212,732  
Sumter Landing Community Development District Florida, RB, Sub-Series B, 5.70%, 10/01/38   3,465   3,230,939  
Village Community Development District No. 6, Special Assessment Bonds, 5.63%, 5/01/13 (a)   5,405       5,440,619  
  35,058,075  
     
    Par
(000)		   Value  
Municipal Bonds  
Georgia  — 0.6%  
Milledgeville & Baldwin County Development Authority, RB, Georgia College & State University Foundation, 6.00%, 9/01/14 (a) $ 1,500   $ 1,649,010  
Hawaii  — 0.2%  
Hawaii State Department of Budget & Finance Senior Living, Refunding RB, Special Purpose - Kahala Nui, 5.25%, 11/15/37   600   647,100  
Idaho  — 1.1%  
Idaho Health Facilities Authority, Refunding RB, Trinity Health Group, Series B, 6.25%, 12/01/33   2,500   2,985,900  
Illinois — 12.5%  
Chicago Public Building Commission Building Illinois, RB, Series A (NPFGC), 7.00%, 1/01/20 (d)   5,000   6,625,600  
Chicago Transit Authority, RB, Sales Tax Receipts Revenue, 5.25%, 12/01/40   1,000   1,145,020  
City of Chicago Illinois, Refunding RB, O'Hare International Airport Passenger Facility Charge, Series B, AMT, 4.00%, 1/01/29   6,000   6,115,380  
Illinois Finance Authority, RB:  
  Navistar International, Recovery Zone, 6.50%, 10/15/40   795   854,108  
  Northwestern Memorial Hospital, Series A, 5.50%, 8/15/14 (a)   5,800   6,259,882  
  Rush University Medical Center, Series C, 6.63%, 11/01/39   1,200   1,464,828  
Illinois Finance Authority, Refunding RB:  
  Friendship Village Schaumburg, Series A, 5.63%, 2/15/37   345   347,629  
  OSF Healthcare System,  Series A, 6.00%, 5/15/39   1,510   1,748,822  
  Roosevelt University Project, 6.50%, 4/01/44   1,500   1,708,035  
Railsplitter Tobacco Settlement Authority, RB:  
  6.25%, 6/01/24   6,000   6,719,760  
  6.00%, 6/01/28   1,700     2,041,547  
  35,030,611  
Indiana  — 0.5%  
Indiana Finance Authority, Refunding RB, Improvement, U.S. Steel Corp., 6.00%, 12/01/26   1,350   1,413,369  
                     
BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JANUARY 31, 2013    2
 
Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

(Percentages shown are based on Net Assets)

    Par
(000)		   Value  
Municipal Bonds  
Iowa — 1.5%  
Iowa Higher Education Loan Authority, RB, Private College Facility, Buena Vista University Project, 5.00%, 4/01/31 $ 1,355    $ 1,520,730  
Iowa Higher Education Loan Authority, Refunding RB, Private College Facility:  
  5.75%, 9/01/30   965   1,094,735  
  6.00%, 9/01/39   1,500     1,689,600  
  4,305,065  
Kansas — 1.0%  
Kansas Development Finance Authority, Refunding RB, Sisters of Leavenworth, Series A, 5.00%, 1/01/28   1,155   1,300,599  
Pratt County Public Building Commission, RB, 3.25%, 12/01/32   1,500    1,491,270  
  2,791,869  
Kentucky — 3.0%  
Kentucky Economic Development Finance Authority, Refunding RB, Norton Healthcare, Inc., Series B (NPFGC), 3.97%, 10/01/23 (b)   8,500   5,590,450  
Louisville & Jefferson County Metropolitan Government, Refunding RB, Jewish Hospital & St. Mary's Healthcare, 6.13%, 2/01/18 (a)   2,250     2,830,297  
  8,420,747  
Louisiana — 2.4%  
Lafayette Public Trust Financing Authority, Refunding RB, Ragin Cajun Facilities Project, 3.75%, 10/01/32   780   800,748  
Louisiana Local Government Environmental Facilities & Community Development Authority, RB:  
  Parish of Plaquemines Project (AGM), 4.00%, 9/01/42   720   729,144  
  Westlake Chemical Corp., Series A-1, 6.50%, 11/01/35   1,565   1,853,179  
Louisiana Public Facilities Authority, RB:  
  5.00%, 7/01/42   2,400   2,644,104  
  Belle Chasse Educational Foundation Project, 6.50%, 5/01/31   600   700,800  
  6,727,975  
Maryland — 1.7%  
Maryland EDC, Refunding RB, CNX Marine Terminals, Inc., 5.75%, 9/01/25   180   201,047  
           
    Par
(000)		   Value  
Municipal Bonds  
Maryland (concluded)  
Maryland Health & Higher Educational Facilities Authority, Refunding RB, Doctor's Community Hospital, 5.63%, 7/01/30 $ 4,100    $ 4,417,422  
  4,618,469  
Michigan — 2.8%  
Board of Control of Michigan Technological University, Refunding RB, General, Series A, 4.00%, 10/01/30   1,930   2,030,457  
Michigan State Building Authority, Refunding RB, Facilities Program, Series I, 6.25%, 10/15/38   1,875   2,281,912  
Royal Oak Hospital Finance Authority Michigan, Refunding RB, William Beaumont Hospital, 8.25%, 9/01/39   2,750    3,516,315  
  7,828,684  
Minnesota  — 1.0%  
City of Minneapolis Minnesota, Refunding RB, Fairview Health Services, Series B (AGC), 6.50%, 11/15/38   2,250   2,763,473  
Mississippi — 3.4%  
Mississippi Development Bank, RB:  
  Hinds Community College District, Capital Improvement Project (AGM), 5.00%, 4/01/36   1,910   2,137,806  
  Special Obligation, Jackson County Limited Tax Note (AGC), 5.50%, 7/01/32   2,655   3,028,107  
University of Southern Mississippi, RB, Campus Facilities Improvements Project, 5.38%, 9/01/36   3,150   3,585,771  
Warren County Mississippi, RB, Gulf Opportunity Zone Bonds, International Paper Co. Project, Series A, AMT, 5.38%, 12/01/35   600    663,204  
  9,414,888  
Missouri — 3.6%  
Missouri State Development Finance Board, RB:  
  St. Joseph Sewage System Improvements, Series E, 5.25%, 5/01/31   620   667,511  
  Series B, 5.00%, 11/01/41   1,350   1,469,556  
Missouri State Development Finance Board, Refunding RB, Electric System Projects, Series F, 4.00%, 6/01/32   5,815   5,956,014  
Missouri State Health & Educational Facilities Authority, RB:  
  A.T. Still University Health Sciences, 5.25%, 10/01/31   500   568,505  
                     
BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JANUARY 31, 2013    3
 
Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

(Percentages shown are based on Net Assets)

    Par
(000)		   Value  
Municipal Bonds  
Missouri (concluded)  
Missouri State Health & Educational Facilities Authority, RB (concluded):  
  Heartland Regional Medical Center, 4.13%, 2/15/43 $ 1,530     $ 1,520,835  
  10,182,421  
Montana  — 0.5%  
Montana Facility Finance Authority, Refunding RB, Sisters of Leavenworth, Series A, 4.75%, 1/01/40   1,250   1,362,850  
Nebraska — 3.0%  
Central Plains Energy Project Nebraska, RB, Gas Project No. 3, 5.00%, 9/01/42   900   987,066  
Omaha Nebraska Sanitation Sewer, RB:  
  3.25%, 11/15/37   1,600   1,539,936  
  4.25%, 11/15/38   2,290   2,461,956  
  4.00%, 11/15/42   3,300      3,483,282  
  8,472,240  
Nevada  — 0.4%  
County of Clark Nevada, Refunding RB, Alexander Dawson School Nevada Project, 5.00%, 5/15/29   1,065   1,164,684  
New Jersey — 5.1%  
Middlesex County Improvement Authority, RB, Subordinate, Heldrich Center Hotel, Series B, 6.25%, 1/01/37 (e)(f)   1,510   112,404  
New Jersey EDA, RB:  
  Cigarette Tax, 5.75%, 6/15/14 (a)   5,250   5,643,908  
  Continental Airlines, Inc. Project, AMT, 6.25%, 9/15/29   1,335   1,360,458  
New Jersey Educational Facilities Authority, Refunding RB, University of Medicine & Dentistry, Series B:  
  7.13%, 12/01/23   950   1,214,290  
  7.50%, 12/01/32   1,225   1,535,121  
New Jersey Health Care Facilities Financing Authority, Refunding RB, Barnabas Health, Series A:  
  4.63%, 7/01/23   770   867,320  
  5.63%, 7/01/37   2,560   2,891,802  
New Jersey State Housing & Mortgage Finance Agency, RB, Series AA, 6.50%, 10/01/38   600   629,424  
  14,254,727  
New York — 6.4%  
Albany Industrial Development Agency, RB, New Covenant Charter School Project, Series A, 7.00%, 5/01/35 (e)(f)   725   108,707  
           
    Par
(000)		   Value  
Municipal Bonds  
New York (concluded)  
Hudson New York Yards Infrastructure Corp., RB, Series A:  
  (AGM), 5.00%, 2/15/47 $ 1,250 $ 1,330,550  
  (NPFGC), 4.50%, 2/15/47   1,980   2,052,211  
Long Island Power Authority, Refunding RB, Series A, 5.75%, 4/01/39   2,475   2,947,527  
New York City Industrial Development Agency, RB:  
  American Airlines Inc., JFK International Airport, AMT, 7.63%, 8/01/25 (e)(f)(g)   2,600   2,989,688  
  Queens Baseball Stadium, PILOT (AGC), 6.50%, 1/01/46   300   352,617  
New York Liberty Development Corp., Refunding RB, Second Priority, Bank of America Tower at One Bryant Park Project, 6.38%, 7/15/49   1,250   1,485,412  
New York State Dormitory Authority, RB, Rochester Institute of Technology, Series A, 6.00%, 7/01/18 (a)   1,625   2,050,880  
Niagara Area Development Corp., Refunding RB, Covanta Energy Project, Series A, AMT, 5.25%, 11/01/42   600   619,008  
Onondaga Civic Development Corp., RB, Saint Joseph's Hospital Health Center Project, 4.50%, 7/01/32   1,420   1,400,049  
Onondaga Civic Development Corp., Refunding RB, Saint Joseph's Hospital Health Center Project, 5.00%, 7/01/42   810   831,392  
Westchester County Healthcare Corp. New York, Refunding RB, Senior Lien, 5.00%, 11/01/30   1,600   1,774,368  
  17,942,409  
North Carolina — 2.7%  
Gaston County Industrial Facilities & Pollution Control Financing Authority North Carolina, RB, Exempt Facilities, National Gypsum Co. Project, AMT, 5.75%, 8/01/35   2,425   2,249,260  
North Carolina Capital Facilities Finance Agency, Refunding RB, Duke Energy Carolinas Project, Series B, 4.38%, 10/01/31   1,385   1,490,911  
North Carolina Medical Care Commission, Refunding RB:  
  South Eastern Medical Region, 3.25%, 6/01/27   450   448,965  
  South Eastern Medical Region, 5.00%, 6/01/32   985   1,130,465  
  University Health System, Series D, 6.25%, 12/01/33   1,750   2,097,462  
  7,417,063  
                     
BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JANUARY 31, 2013    4
 
Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

(Percentages shown are based on Net Assets)

    Par
(000)		   Value  
Municipal Bonds  
North Dakota — 1.0%  
City of Fargo North Dakota, Refunding RB, University Facilities Development Foundation Project, 3.00%, 12/01/30 $ 600  $  588,660  
City of Grand Forks North Dakota, Refunding RB, 5.00%, 12/01/32   2,120    2,300,984  
  2,889,644  
Ohio — 0.9%  
Kent State University, RB, General Receipts, Series A, 5.00%, 5/01/42   1,200     1,354,272  
Miami University Oxford Ohio, RB, General Receipts, 3.25%, 9/01/34   1,200     1,163,484  
  2,517,756  
Oregon — 1.7%  
City of Madras Oregon, GO, Refunding, Full Faith and Credit Refunding Obligations, 4.00%, 2/15/33   750   737,790  
Oregon Health & Science University, RB, Series A, 5.75%, 7/01/39   1,250   1,472,800  
Oregon Health & Science University, Refunding RB:  
  Series A, 3.00%, 7/01/24   1,500   1,515,105  
  Series E, 5.00%, 7/01/32   500   580,605  
Oregon State Facilities Authority, Refunding RB, Limited College Project, Series A, 5.25%, 10/01/40   500     554,465  
  4,860,765  
Pennsylvania — 3.5%  
County of Allegheny Pennsylvania IDA, Refunding RB, U.S. Steel Corp. Project, 6.55%, 12/01/27   2,535   2,770,958  
Delaware River Port Authority, RB, Series D (AGM), 5.00%, 1/01/40   3,640   4,065,079  
McKeesport Area School District, GO, CAB, Refunding (NPFGC) (b):  
  2.99%, 10/01/31 (d)   500   287,325  
  4.38%, 10/01/31   2,435   1,084,549  
Pennsylvania Higher Educational Facilities Authority, RB, 5.00%, 11/01/42   1,500     1,655,730  
  9,863,641  
Puerto Rico — 1.2%  
Puerto Rico Sales Tax Financing Corp., RB:  
  CAB, Series A, 5.83%, 8/01/35 (b)   1,000   274,450  
  First Sub-Series A, 5.75%, 8/01/37   1,500   1,621,320  
Puerto Rico Sales Tax Financing Corp., Refunding RB, CAB, Series A (NPFGC), 5.60%, 8/01/41 (b)   7,500     1,554,900  
  3,450,670  
     
    Par
(000)		   Value  
Municipal Bonds  
Rhode Island — 1.8%  
Rhode Island Health & Educational Building Corp., RB, Hospital Financing, LifeSpan Obligation, Series A (AGC), 7.00%, 5/15/39 $ 3,000  $  3,624,780  
State of Rhode Island, COP, Series C, School for the Deaf (AGC), 5.38%, 4/01/28   1,330     1,511,385  
  5,136,165  
South Carolina — 3.5%  
South Carolina Jobs-EDA, Refunding RB:  
  Palmetto Health Alliance, Series A, 6.25%, 8/01/31   2,185   2,246,617  
  Palmetto Health, Series C, 6.88%, 8/01/13 (a)   3,560   3,677,622  
South Carolina State Housing Finance & Development Authority, Refunding RB, Series A-2, AMT (AMBAC), 5.15%, 7/01/37   3,695     3,890,133  
  9,814,372  
Tennessee — 2.0%  
Johnson City Health & Educational Facilities Board, RB, 5.00%, 8/15/42   1,200   1,314,300  
Memphis-Shelby County Sports Authority, Inc., Refunding RB, Memphis Arena Project, Series A:  
  5.25%, 11/01/27   1,135   1,280,552  
  5.38%, 11/01/28   1,000   1,130,080  
Shelby County Health Educational & Housing Facilities Board, RB, Methodist Le Bonheur Healthcare, 5.00%, 5/01/42   1,540     1,713,389  
  5,438,321  
Texas — 10.4%  
Harris County Health Facilities Development Corp., Refunding RB, Memorial Hermann Healthcare System, Series B:  
  7.13%, 12/01/31   1,000   1,276,830  
  7.25%, 12/01/35   2,650   3,301,450  
Harris County-Houston Sports Authority, Refunding RB, CAB, Senior Lien, Series A (NPFGC), 5.36%,     11/15/38 (b)   5,000   1,277,050  
Love Field Airport Modernization Corp., RB, Southwest Airlines Co. Project, 5.25%, 11/01/40   1,445   1,575,310  
Lower Colorado River Authority, Refunding RB, Series A (NPFGC), 5.00%, 5/15/13 (a)   5   5,069  
Matagorda County Navigation District No. 1 Texas, Refunding RB, Central Power & Light Co. Project, Series A, 6.30%, 11/01/29   2,200   2,594,790  
                     
BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JANUARY 31, 2013    5
 
Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

(Percentages shown are based on Net Assets)

    Par
(000)		   Value  
Municipal Bonds  
Texas (concluded)  
Midland County Fresh Water Supply District No 1, RB, City of Midland Project, CAB, Series A, 4.48%, 9/15/36 (b) $ 7,640  $  2,680,112  
Midland County Fresh Water Supply District No 1, Refunding RB, City of Midland Project:  
  3.38%, 9/15/32   2,425   2,443,018  
  CAB, Series A, 4.67%, 9/15/38 (b)   16,780   5,139,546  
Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien, LBJ Infrastructure Group LLC, LBJ Freeway Managed Lanes Project, 7.00%, 6/30/40   3,000   3,649,920  
Texas State Turnpike Authority, RB, CAB (AMBAC), 5.97%, 8/15/31 (b)   15,000     5,038,650  
  28,981,745  
Vermont — 1.8%  
University of Vermont & State Agricultural College, Refunding RB, Series A, 4.00%, 10/01/38   1,800   1,873,800  
Vermont Educational & Health Buildings Financing Agency, RB, Hospital, Fletcher Allen Health, Series A, 4.75%, 12/01/36   1,495   1,567,164  
Vermont Educational & Health Buildings Financing Agency, Refunding RB, St. Michaels College, 5.00%, 10/01/42   1,350     1,484,554  
  4,925,518  
Virginia  — 0.7%  
Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossing OPCO LLC Project, AMT, 5.50%, 1/01/42   1,870   2,042,190  
Washington  — 0.9%  
Washington Healthcare Facilities Authority, RB, MultiCare Health System, Series B (AGC), 6.00%, 8/15/39   2,100   2,457,105  
West Virginia  — 0.7%  
West Virginia State University, RB, West Virginia University Projects, Series B, 5.00%, 10/01/36   1,650   1,926,177  
Wyoming  — 0.7%  
County of Sweetwater Wyoming, Refunding RB, Idaho Power Co. Project, 5.25%, 7/15/26   1,800   2,048,544  
Total Municipal Bonds – 135.1%   378,457,146  
                     

 

    Par
(000)		   Value  
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (h)  
Colorado  — 2.0%  
Colorado Health Facilities Authority, RB, Catholic Health, Series C-7 (AGM), 5.00%, 9/01/36 $ 5,250  $  5,652,833  
Massachusetts  — 1.2%  
Massachusetts Water Resources Authority, Refunding RB, General, Series A, 5.00%, 8/01/41   3,070   3,458,324  
Michigan  — 2.2%  
Michigan State Hospital Finance Authority, Refunding RB, 4.00%, 12/01/32   6,000   6,203,040  
___________________________________________________________________________________________________________________
New Jersey  — 1.2%  
New Jersey Transportation Trust Fund Authority, RB, Transportation System, Series B, 5.25%, 6/15/36   2,860   3,278,475  
New York — 7.7%  
Hudson New York Yards Infrastructure Corp., RB, Senior, Series A, 5.75%, 2/15/47   1,750   2,088,110  
New York City Municipal Water Finance Authority, RB, Water & Sewer System, Series A, 5.75%, 6/15/40   690   822,693  
New York City Municipal Water Finance Authority, Refunding RB:  
  Second Generation Resolution, Series FF-2, 5.50%, 6/15/40   810   955,834  
  Water & Sewer System, Series A, 4.75%, 6/15/30   4,000   4,477,840  
New York Liberty Development Corp., RB, 5.25%, 12/15/43   4,500   5,177,359  
New York State Dormitory Authority, RB, New York University, Series A, 5.00%, 7/01/38   3,359   3,787,745  
New York State Dormitory Authority, Refunding LRB, State University Dormitory Facilities, Series A, 5.00%, 7/01/42   1,200   1,383,876  
New York State Thruway Authority, Refunding RB, 5.00%, 3/15/31   2,360     2,800,919  
  21,494,376  
Ohio — 1.7%  
County of Montgomery Ohio, RB, Catholic Health, Series C-1 (AGM), 5.00%, 10/01/41   1,740   1,855,327  
                     
BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JANUARY 31, 2013    6
 
Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

(Percentages shown are based on Net Assets)

    Par
(000)		   Value  
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (h)  
Ohio (concluded)  
Ohio Higher Educational Facility Commission, Refunding RB, Hospital, Cleveland Clinic Health, Series A, 5.25%, 1/01/33 $ 2,600  $  2,895,698  
  4,751,025  
Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts – 16.0%   44,838,073  
Total Long-Term Investments
(Cost – $380,429,987) – 151.1%		   423,295,219  
 
                 

 

   
Shares		   Value  
Short-Term Securities  
FFI Institutional Tax-Exempt Fund, 0.01% (i)(j) 3,604,617 $ 3,604,617   
Total Short-Term Securities
(Cost – $3,604,617) – 1.3%		   3,604,617  
Total Investments (Cost - $384,034,604*) – 152.4% 426,899,836  
Other Assets Less Liabilities – 1.2%   3,284,557  
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable – (8.6)%   (24,207,835)  
VMTP Shares, at Liquidation Value – (45.0)%   (125,900,000)  
Net Assets Applicable to Common Shares – 100.0% $ 280,076,558  
       
* As of January 31, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:  
  Tax cost $ 359,449,901   
  Gross unrealized appreciation $ 45,927,164   
  Gross unrealized depreciation   (2,675,610)  
Net unrealized appreciation $ 43,251,554   
                 

 

 

Notes to Schedule of Investments

(a) US government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par.  
(b) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.  
(c) Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date.  
(d) Security is collateralized by Municipal or US Treasury obligations.  
(e) Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.  
(f) Non-income producing security.  
(g) Variable rate security. Rate shown is as of report date.  
(h) Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.  
(i) Investments in issuers considered to be an affiliate of the Trust during the period ended January 31, 2013, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:  
   
  Affiliate   Shares
Held at
April 30, 2012		   Net
Activity		   Shares
Held at
January 31, 2013		   Income  
  FFI Institutional Tax-Exempt Fund   4,510,968   (906,351)   3,604,617 $ 730  
                     
(j) Represents the current yield as of report date.  
                                             

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JANUARY 31, 2013    7
 
Schedule of Investments (continued)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

• Financial futures contracts as of January 31, 2013 were as follows:  
  Contracts Sold   Issue   Exchange   Expiration   Notional
Value		 Unrealized Depreciation  
  (36)   30 Year US Treasury Bond   Chicago Board of Trade   March 2013 USD $5,164,875 $ (9,619)  

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:  
AGC Assured Guaranty Corp.
AGM Assured Guaranty Municipal Corp.
AMBAC American Municipal Bond Assurance Corp.
AMT Alternative Minimum Tax (subject to)
ARB Airport Revenue Bonds
CAB Capital Appreciation Bonds
CIFG CDC IXIS Financial Guaranty
COP Certificates of Participation
EDA Economic Development Authority
EDC Economic Development Corp.
GO General Obligation Bonds
IDA Industrial Development Authority
IDRB Industrial Development Revenue Bonds
LRB Lease Revenue Bonds
NPFGC National Public Finance Guarantee Corp.
PILOT Payment in Lieu of Taxes
RB Revenue Bonds
Syncora Syncora Guarantee
 
• 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:
   
  • Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and 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)
   
  • Level 3 — 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)
   
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 level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
 
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 and other significant accounting policies, please refer to the Trust's most recent financial statements as contained in its semi-annual report.
   
                                             

 

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JANUARY 31, 2013    8
 
Schedule of Investments (concluded)

BlackRock Investment Quality Municipal Trust Inc. (BKN)

 

 

The following tables summarize the Trust's investments and derivative financial instruments categorized in the disclosure hierarchy as of January 31, 2013:

 

  Level 1   Level 2   Level 3   Total
Assets:
Investments:
  Long-Term Investments1   — $ 423,295,219   — $ 423,295,219
  Short-Term Securities $ 3,604,617   —   —   3,604,617
Total $ 3,604,617 $ 423,295,219   — $ 426,899,836
                               

1See above Schedule of Investments for values in each state or political subdivision.

 

  Level 1   Level 2   Level 3   Total
Derivative Financial Instruments2
Liabilities:
  Interest rate contracts $ (9,619)   —   — $ (9,619)
                               

2Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

 

Certain of the Trust’s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of January 31, 2013, such liabilities are categorized within the disclosure hierarchy as follows:
  Level 1   Level 2   Level 3   Total
Liabilities:
  TOB trust certificates   — $ (24,198,381)   — $ (24,198,381)
  VMTP shares   —   (125,900,000)   —   (125,900,000)
Total   — $ (150,098,381)   — $ (150,098,381)
                               

 

There were no transfers between levels during the period ended January 31, 2013.

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.JANUARY 31, 2013    9
 

 

Item 2 – Controls and Procedures

2(a) –     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 ″1940 Act″)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

2(b) –     There were no changes in the 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.

Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

BlackRock Investment Quality Municipal Trust, Inc.

 

  By: /s/ John M. Perlowski
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Investment Quality Municipal Trust, Inc.

 

Date: March 26, 2013

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

  By: /s/ John M. Perlowski
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Investment Quality Municipal Trust, Inc.

 

Date: March 26, 2013

 

  By: /s/ Neal J. Andrews
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Investment Quality Municipal Trust, Inc.

 

Date: March 26, 2013