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 811-21493
Name of Fund: BlackRock Strategic Equity Dividend Trust (BDT)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Strategic Equity Dividend Trust, 55 East 52nd Street, New York, NY 10055
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 10/31/2011
Date of reporting period: 07/31/2011
Item 1 | | Schedule of Investments |
Schedule of Investments July 31, 2011 (Unaudited) | BlackRock Strategic Equity Dividend Trust (BDT) | |
(Percentages shown are based on Net Assets) |
Shares | Value | |||||||
Common Stocks |
||||||||
Building Products 1.5% |
||||||||
AO Smith Corp. |
52,550 | $ | 2,179,250 | |||||
Masco Corp.(a) |
240,500 | 2,537,275 | ||||||
|
|
|||||||
4,716,525 | ||||||||
|
|
|||||||
Capital Markets 2.2% |
||||||||
Eaton Vance Corp.(a) |
165,500 | 4,438,710 | ||||||
Federated Investors, Inc., Class B(a) |
107,046 | 2,287,573 | ||||||
|
|
|||||||
6,726,283 | ||||||||
|
|
|||||||
Chemicals 1.7% |
||||||||
RPM International, Inc.(a) |
151,400 | 3,191,512 | ||||||
Stepan Co. |
23,950 | 1,899,235 | ||||||
|
|
|||||||
5,090,747 | ||||||||
|
|
|||||||
Commercial Banks 8.0% |
||||||||
BancFirst Corp. |
28,600 | 1,090,804 | ||||||
BancorpSouth, Inc.(a) |
120,500 | 1,631,570 | ||||||
Bank of Hawaii Corp. |
99,600 | 4,463,076 | ||||||
Bank of the Ozarks, Inc. |
43,500 | 2,259,825 | ||||||
Chemical Financial Corp. |
56,145 | 1,065,071 | ||||||
Community Bank System, Inc.(a) |
67,600 | 1,700,816 | ||||||
Community Trust Bancorp, Inc. |
40,515 | 1,098,767 | ||||||
Cullen/Frost Bankers, Inc.(a) |
94,500 | 5,091,660 | ||||||
Iberiabank Corp.(a) |
23,800 | 1,213,086 | ||||||
S&T Bancorp, Inc. |
31,200 | 593,424 | ||||||
Trustmark Corp. |
60,200 | 1,311,758 | ||||||
Valley National Bancorp(a) |
134,015 | 1,762,297 | ||||||
WesBanco, Inc. |
59,400 | 1,220,670 | ||||||
|
|
|||||||
24,502,824 | ||||||||
|
|
|||||||
Commercial Services & Supplies 4.3% |
||||||||
ABM Industries, Inc. |
132,800 | 2,988,000 | ||||||
Avery Dennison Corp.(a) |
76,941 | 2,427,489 | ||||||
McGrath Rentcorp |
51,661 | 1,344,736 | ||||||
Mine Safety Appliances Co. |
57,700 | 1,968,724 | ||||||
Pitney Bowes, Inc.(a) |
207,800 | 4,478,090 | ||||||
|
|
|||||||
13,207,039 | ||||||||
|
|
|||||||
Computers & Peripherals 0.8% |
||||||||
Diebold, Inc. |
86,400 | 2,612,736 | ||||||
|
|
|||||||
Containers & Packaging 2.4% |
||||||||
Bemis Co., Inc.(a) |
95,300 | 3,011,480 | ||||||
Myers Industries, Inc. |
108,748 | 1,294,101 | ||||||
Sonoco Products Co.(a) |
100,800 | 3,230,640 | ||||||
|
|
|||||||
7,536,221 | ||||||||
|
|
|||||||
Construction Materials 2.0% |
||||||||
Martin Marietta Materials, Inc.(a) |
43,400 | 3,281,908 | ||||||
Vulcan Materials Co.(a) |
81,100 | 2,780,919 | ||||||
|
|
|||||||
6,062,827 | ||||||||
|
|
|||||||
Distributors 0.6% |
||||||||
Genuine Parts Co.(a) |
33,200 | 1,764,912 | ||||||
|
|
|||||||
Diversified Consumer Services 1.5% |
||||||||
H&R Block, Inc.(a) |
316,421 | 4,733,658 | ||||||
|
|
|||||||
Diversified Telecommunication Services 1.0% |
||||||||
CenturyLink, Inc. |
79,100 | 2,935,401 | ||||||
|
|
|||||||
Electric Utilities 2.7% |
||||||||
MGE Energy, Inc. |
40,371 | 1,658,441 | ||||||
Northeast Utilities |
163,000 | 5,542,000 | ||||||
Otter Tail Corp. |
56,461 | 1,173,260 | ||||||
|
|
|||||||
8,373,701 | ||||||||
|
|
|||||||
Electrical Equipment 2.9% |
||||||||
Brady Corp., Class A |
109,300 | 3,235,280 | ||||||
Roper Industries, Inc. |
69,400 | 5,665,122 | ||||||
|
|
|||||||
8,900,402 | ||||||||
|
|
|||||||
Energy Equipment & Services 1.4% |
||||||||
Helmerich & Payne, Inc. |
64,600 | 4,460,630 | ||||||
|
|
|||||||
Food & Staples Retailing 1.5% |
||||||||
Caseys General Stores, Inc.(a) |
37,700 | 1,696,500 | ||||||
SUPERVALU, Inc.(a) |
323,100 | 2,778,660 | ||||||
|
|
|||||||
4,475,160 | ||||||||
|
|
|||||||
Food Products 5.7% |
||||||||
Hormel Foods Corp. |
280,500 | 8,126,085 | ||||||
The J.M. Smucker Co.(a) |
37,805 | 2,945,766 | ||||||
Lancaster Colony Corp.(a) |
47,200 | 2,838,136 | ||||||
McCormick & Co., Inc.(a) |
74,300 | 3,614,695 | ||||||
|
|
|||||||
17,524,682 | ||||||||
|
|
|||||||
Gas Utilities 10.9% |
||||||||
Atmos Energy Corp.(a) |
92,000 | 3,075,560 | ||||||
Energen Corp.(a) |
61,700 | 3,628,577 | ||||||
National Fuel Gas Co.(a) |
64,700 | 4,682,986 | ||||||
New Jersey Resources Corp. |
122,700 | 5,350,947 | ||||||
Northwest Natural Gas Co.(a) |
80,400 | 3,586,644 | ||||||
Piedmont Natural Gas Co., Inc.(a) |
99,400 | 2,899,498 | ||||||
South Jersey Industries, Inc.(a) |
79,500 | 4,014,750 | ||||||
UGI Corp.(a) |
105,000 | 3,181,500 | ||||||
WGL Holdings, Inc. |
80,100 | 3,108,681 | ||||||
|
|
|||||||
33,529,143 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 1.5% |
||||||||
Meridian Bioscience, Inc. |
63,500 | 1,371,600 | ||||||
Teleflex, Inc. |
51,600 | 3,107,868 | ||||||
|
|
|||||||
4,479,468 | ||||||||
|
|
|||||||
Household Durables 3.9% |
||||||||
Fortune Brands, Inc.(a) |
29,000 | 1,746,090 | ||||||
Leggett & Platt, Inc.(a) |
142,033 | 3,082,116 | ||||||
Stanley Black & Decker, Inc.(a) |
107,400 | 7,063,698 | ||||||
|
|
|||||||
11,891,904 | ||||||||
|
|
|||||||
Industrial Conglomerates 0.7% |
||||||||
Raven Industries, Inc. |
41,300 | 2,181,879 | ||||||
|
|
|||||||
Insurance 6.2% |
||||||||
Arthur J. Gallagher & Co. |
107,500 | 3,022,900 | ||||||
Cincinnati Financial Corp. |
186,642 | 5,100,926 | ||||||
Erie Indemnity Co., Class A |
65,000 | 4,790,500 | ||||||
Harleysville Group, Inc. |
47,200 | 1,426,384 | ||||||
Mercury General Corp. |
57,300 | 2,128,122 | ||||||
Old Republic International Corp. |
233,100 | 2,433,564 | ||||||
|
|
|||||||
18,902,396 | ||||||||
|
|
|||||||
Leisure Equipment & Products 2.3% |
||||||||
Polaris Industries, Inc.(a) |
60,500 | 7,172,275 | ||||||
|
|
|||||||
Machinery 5.8% |
||||||||
Badger Meter, Inc. |
59,000 | 2,152,910 | ||||||
Dover Corp.(a) |
55,500 | 3,356,085 | ||||||
Graco, Inc. |
41,400 | 1,818,702 | ||||||
NACCO Industries, Inc., Class A |
26,200 | 2,381,056 | ||||||
Pentair, Inc.(a) |
146,800 | 5,403,708 | ||||||
Tennant Co. |
61,502 | 2,632,901 | ||||||
|
|
|||||||
17,745,362 | ||||||||
|
|
JULY 31, 2011 | 1 |
Schedule of Investments (continued) | BlackRock Strategic Equity Dividend Trust (BDT) | |
(Percentages shown are based on Net Assets) |
Shares | Value | |||||||
Common Stocks |
||||||||
Media 0.4% |
||||||||
Meredith Corp. |
43,300 | $ | 1,292,505 | |||||
|
|
|||||||
Multiline Retail 0.9% |
||||||||
Family Dollar Stores, Inc.(a) |
52,400 | 2,782,964 | ||||||
|
|
|||||||
Multi-Utilities 6.1% |
||||||||
Black Hills Corp.(a) |
57,800 | 1,727,064 | ||||||
Integrys Energy Group, Inc.(a) |
77,300 | 3,881,233 | ||||||
MDU Resources Group, Inc. |
187,100 | 4,033,876 | ||||||
NSTAR(a) |
137,800 | 6,108,674 | ||||||
Vectren Corp. |
108,650 | 2,869,448 | ||||||
|
|
|||||||
18,620,295 | ||||||||
|
|
|||||||
Real Estate Investment Trusts (REITs) 9.7% |
||||||||
Federal Realty Investment Trust |
37,600 | 3,283,984 | ||||||
Getty Realty Corp. |
90,800 | 2,106,560 | ||||||
Home Properties, Inc. |
69,800 | 4,573,296 | ||||||
Liberty Property Trust |
62,400 | 2,119,104 | ||||||
National Retail Properties, Inc. |
89,700 | 2,250,573 | ||||||
Realty Income Corp. |
70,318 | 2,282,522 | ||||||
Sovran Self Storage, Inc.(a) |
37,880 | 1,536,034 | ||||||
Tanger Factory Outlet Centers |
66,100 | 1,814,445 | ||||||
UDR, Inc. |
145,100 | 3,817,581 | ||||||
Universal Health Realty Income Trust |
34,125 | 1,406,291 | ||||||
Washington REIT |
63,300 | 2,026,866 | ||||||
Weingarten Realty Investors |
94,600 | 2,433,112 | ||||||
|
|
|||||||
29,650,368 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 1.4% |
||||||||
Linear Technology Corp.(a) |
149,900 | 4,392,070 | ||||||
|
|
|||||||
Tobacco 1.9% |
||||||||
Universal Corp.(a) |
71,500 | 2,625,480 | ||||||
Vector Group Ltd. |
190,545 | 3,336,443 | ||||||
|
|
|||||||
5,961,923 | ||||||||
|
|
|||||||
Trading Companies & Distributors 0.9% |
||||||||
Fastenal Co.(a) |
80,100 | 2,695,365 | ||||||
|
|
|||||||
Water Utilities 3.1% |
||||||||
American States Water Co. |
31,925 | 1,091,516 | ||||||
Aqua America, Inc.(a) |
239,900 | 5,073,885 | ||||||
California Water Service Group |
65,118 | 1,192,311 | ||||||
Middlesex Water Co. |
66,600 | 1,218,114 | ||||||
SJW Corp. |
44,100 | 1,037,227 | ||||||
|
|
|||||||
9,613,053 | ||||||||
|
|
|||||||
Total Long-Term Investments |
294,534,718 | |||||||
|
|
|||||||
Short-Term Securities |
||||||||
BlackRock Liquidity Funds, TempFund, Institutional Class, |
||||||||
0.06%(b)(c) |
12,205,379 | 12,205,379 | ||||||
|
|
|||||||
Total Short-Term Securities |
12,205,379 | |||||||
|
|
|||||||
Total Investments Before Outstanding Options Written |
306,740,097 | |||||||
|
|
|||||||
Contracts | ||||||||
Options Written |
||||||||
Exchange-Traded Call Options Written (0.1)% |
||||||||
Aqua America, Inc., Strike Price USD 22.50, Expires 8/22/11 |
165 | (1,650 | ) | |||||
Atmos Energy Corp., Strike Price USD 35, Expires 9/19/11 |
184 | (20,240 | ) | |||||
Avery Dennison Corp., Strike Price USD 32.50, Expires 9/23/11 |
154 | (12,012 | ) | |||||
Bancorpsouth, Inc., Strike Price USD 13, Expires 8/22/11 |
240 | (18,609 | ) | |||||
Bemis Co., Inc., Strike Price USD 32.90, Expires 8/01/11 |
140 | | ||||||
Black Hills Corp., Strike Price USD 31, Expires 8/09/11 |
115 | (1,439 | ) | |||||
Caseys General Stores, Inc., Strike Price USD 45, Expires 8/22/11 |
75 | (7,313 | ) | |||||
Community Bank System, Inc., Strike Price USD 25, Expires 9/19/11 |
135 | (12,825 | ) | |||||
Cullen/Frost Bankers, Inc., Strike Price USD 57, Expires 8/05/11 |
190 | (285 | ) | |||||
Dover Corp., Strike Price USD 66, Expires 8/31/11 |
110 | (4,410 | ) | |||||
Eaton Vance Corp., Strike Price USD 30, Expires 8/22/11 |
331 | (4,965 | ) | |||||
Energen Corp., Strike Price USD 60, Expires 8/22/11 |
123 | (13,530 | ) | |||||
Family Dollar Stores, Inc., Strike Price USD 53.50, Expires 8/22/11 |
105 | (7,543 | ) | |||||
Fastnel Co., Strike Price USD 34.50, Expires 9/23/11 |
160 | (13,649 | ) | |||||
Federated Investors, Inc., Class B, Strike Price USD 22.50, Expires 9/19/11 |
215 | (6,988 | ) | |||||
Fortune Brands, Inc., Strike Price USD 65, Expires 9/19/11 |
58 | (2,900 | ) | |||||
Genuine Parts Co., Strike Price USD 57, Expires 9/12/11 |
65 | (2,718 | ) | |||||
H&R Block, Inc., Strike Price USD 16, Expires 9/19/11 |
630 | (18,900 | ) | |||||
Iberiabank Corp., Strike Price USD 55, Expires 8/22/11 |
47 | (11,045 | ) | |||||
Integrys Energy Group, Inc., Strike Price USD 53.75, Expires 8/22/11 |
155 | (2,037 | ) | |||||
The J.M. Smucker Co., Strike Price USD 80, Expires 8/22/11 |
75 | (6,563 | ) | |||||
Lancaster Colony Corp., Strike Price USD 61.25, Expires 8/22/11 |
95 | (6,026 | ) | |||||
Leggett & Platt, Inc., Strike Price USD 25, Expires 9/19/11 |
280 | (2,100 | ) | |||||
Linear Technology Corp., Strike Price USD 33, Expires 8/22/11 |
300 | (3,000 | ) | |||||
Martin Marietta Materials, Inc., Strike Price USD 80, Expires 9/19/11 |
87 | (11,310 | ) | |||||
Masco Corp.: |
||||||||
Strike Price USD 13, Expires 8/22/11 |
240 | (1,200 | ) | |||||
Strike Price USD 12, Expires 9/19/11 |
240 | (3,000 | ) | |||||
McCormick & Co., Inc., Strike Price USD 50.50, Expires 8/22/11 |
150 | (3,226 | ) | |||||
National Fuel Gas Co., Strike Price USD 75, Expires 8/22/11 |
130 | (14,950 | ) | |||||
Northwest Natural Gas Co., Strike Price USD 45, Expires 8/22/11 |
159 | (8,745 | ) |
2 | JULY 31, 2011 |
Schedule of Investments (continued) | BlackRock Strategic Equity Dividend Trust (BDT) | |
(Percentages shown are based on Net Assets) |
Contracts | Value | |||||||
Options Written |
||||||||
Exchange-Traded Call Options Written (concluded) |
||||||||
NSTAR, Strike Price USD 45, Expires 8/22/11 |
106 | $ | (5,565 | ) | ||||
Pentair, Inc., Strike Price USD 40, Expires 9/19/11 |
290 | (12,325 | ) | |||||
Piedmont Natural Gas Co., Inc., Strike Price USD 30, Expires 8/22/11 |
200 | (17,000 | ) | |||||
Pitney Bowes, Inc., Strike Price USD 23, Expires 8/22/11 |
415 | (3,113 | ) | |||||
Polaris Industries, Inc., Strike Price USD 120, Expires 9/19/11 |
120 | (69,600 | ) | |||||
RPM International, Inc., Strike Price USD 23, Expires 9/19/11 |
150 | (1,946 | ) | |||||
Sonoco Products Co., Strike Price USD 35, Expires 8/22/11 |
200 | (3,000 | ) | |||||
South Jersey Industries, Inc., Strike Price USD 52, Expires 8/22/11 |
160 | (7,087 | ) | |||||
Sovran Self Storage, Inc., Strike Price USD 40.50, Expires 8/22/11 |
75 | (5,645 | ) | |||||
Stanley Black & Decker, Inc.: |
||||||||
Strike Price USD 72.50, Expires 8/22/11 |
115 | (2,588 | ) | |||||
Strike Price USD 75, Expires 8/22/11 |
100 | (1,500 | ) | |||||
SUPERVALU, Inc.: |
||||||||
Strike Price USD 9.50, Expires 8/02/11 |
325 | (113 | ) | |||||
Strike Price USD 9.50, Expires 9/08/11 |
325 | (5,681 | ) | |||||
UGI Corp., Strike Price USD 31, Expires 8/10/11 |
210 | (3,630 | ) | |||||
Universal Corp.: |
||||||||
Strike Price USD 37.90, Expires 8/12/11 |
70 | (2,031 | ) | |||||
Strike Price USD 40, Expires 8/22/11 |
75 | (1,125 | ) | |||||
Valley National Bancorp, Strike Price USD 14, Expires 8/22/11 |
268 | (2,680 | ) | |||||
Vulcan Materials, Strike Price USD 36, Expires 9/19/11 |
160 | (17,200 | ) | |||||
|
|
|||||||
Total Exchange-Traded Call Options Written |
(385,007 | ) | ||||||
|
|
|||||||
Over-the-Counter Call Options Written (0.3)% |
||||||||
ABM Industries, Inc., Strike Price USD 22.73, Expires 8/05/11, Broker Citigroup Global Markets, Inc. |
26,500 | (3,627 | ) | |||||
American States Water Co., Strike Price USD 34.44, Expires 8/12/11, Broker Morgan Stanley & Co., Inc. |
6,500 | (1,712 | ) | |||||
AO Smith Corp., Strike Price USD 43.50, Expires 8/29/11, Broker Deutsche Bank Securities Corp. |
10,500 | (5,706 | ) | |||||
Aqua America, Inc.: |
||||||||
Strike Price USD 21.71, Expires 8/05/11, Broker Deutsche Bank Securities Corp. |
16,500 | (1,306 | ) | |||||
Strike Price USD 22.49, Expires 8/31/11, Broker Morgan Stanley & Co., Inc. |
16,000 | (2,360 | ) | |||||
Arthur J. Gallagher & Co., Strike Price USD 27.87, Expires 8/31/11, Broker Credit Suisse First Boston |
21,500 | (20,747 | ) | |||||
Badger Meter, Inc., Strike Price USD 37.20, Expires 9/24/11, Broker Citigroup Global Markets, Inc. |
11,800 | (19,696 | ) | |||||
Bancfirst Corp., Strike Price USD 39.58, Expires 9/23/11, Broker Citigroup Global Markets, Inc. |
6,000 | (5,212 | ) | |||||
Bank of Hawaii Corp., Strike Price USD 47.29, Expires 8/31/11, Broker Morgan Stanley & Co., Inc. |
20,000 | (4,891 | ) | |||||
Bank of the Ozarks, Inc., Strike Price USD 51.91, Expires 8/12/11, Broker Deutsche Bank Securities Corp. |
8,700 | (8,961 | ) | |||||
Bemis Co., Inc., Strike Price USD 34.10, Expires 9/23/11, Broker Morgan Stanley & Co., Inc. |
5,000 | (696 | ) | |||||
Brady Corp., Strike Price USD 32.40, Expires 9/14/11, Broker Deutsche Bank Securities Corp. |
21,900 | (5,973 | ) | |||||
California Water Service Group: |
||||||||
Strike Price USD 18.17, Expires 8/09/11, Broker Deutsche Bank Securities Corp. |
6,000 | (1,588 | ) | |||||
Strike Price USD 18.53, Expires 8/30/11, Broker Citigroup Global Markets, Inc. |
7,000 | (1,722 | ) | |||||
CenturyLink, Inc., Strike Price USD 39.62, Expires 9/08/11, Broker UBS Securities LLC |
16,000 | (3,728 | ) | |||||
Chemical Financial Corp., Strike Price USD 19.29, Expires 8/31/11, Broker Credit Suisse First Boston |
11,200 | (3,639 | ) | |||||
Cincinnati Financial Corp., Strike Price USD 28.78, Expires 9/08/11, Broker Societe General Securities Corp. |
37,500 | (10,829 | ) | |||||
Community Trust Bancorp, Inc., Strike Price USD 27.80, Expires 8/26/11, Broker Citigroup Global Markets, Inc. |
8,100 | (2,668 | ) | |||||
Diebold, Inc., Strike Price USD 31.96, Expires 8/01/11, Broker JPMorgan Chase Securities |
17,300 | (38 | ) | |||||
Erie Indemnity Co., Class A, Strike Price USD 70, Expires 8/03/11, Broker Morgan Stanley & Co., Inc. |
13,000 | (48,100 | ) | |||||
Federal Realty Investment Trust, Strike Price USD 87.60, Expires 8/08/11, Broker UBS Securities LLC |
7,500 | (9,086 | ) | |||||
Getty Realty Corp., Strike Price USD 26.82, Expires 8/19/11, Broker Morgan Stanley & Co., Inc. |
18,200 | (16 | ) | |||||
Graco, Inc., Strike Price USD 51.23, Expires 9/23/11, Broker Citigroup Global Markets, Inc. |
8,000 | (804 | ) | |||||
Harleysville Group, Inc., Strike Price USD 31.26, Expires 8/12/11, Broker Morgan Stanley & Co., Inc. |
9,500 | (668 | ) | |||||
Helmerich & Payne, Inc., Strike Price USD 61.21, Expires 8/02/11, Broker Morgan Stanley & Co., Inc. |
13,000 | (101,920 | ) | |||||
Hormel Foods Corp., Strike Price USD 28.81, Expires 8/24/11, Broker Morgan Stanley & Co., Inc. |
56,000 | (44,066 | ) | |||||
Liberty Property Trust, Strike Price USD 32.32, Expires 8/10/11, Broker Morgan Stanley & Co., Inc. |
12,500 | (22,948 | ) | |||||
McGrath Rentcorp, Strike Price USD 26.84, Expires 8/25/11, Broker Citigroup Global Markets, Inc. |
10,500 | (3,959 | ) | |||||
MDU Resources Group, Inc., Strike Price USD 22.13, Expires 9/13/11, Broker Deutsche Bank Securities Corp. |
37,500 | (23,009 | ) | |||||
Mercury General Corp., Strike Price USD 38.79, Expires 9/14/11, Broker Credit Suisse First Boston |
11,500 | (4,599 | ) |
JULY 31, 2011 | 3 |
Schedule of Investments (continued) | BlackRock Strategic Equity Dividend Trust (BDT) | |
(Percentages shown are based on Net Assets) |
Contracts | Value | |||||||
Options Written |
||||||||
Over-the-Counter Call Options Written (continued) |
||||||||
Meredith Corp., Strike Price USD 31.08, Expires 8/01/11, Broker Morgan Stanley & Co., Inc. |
8,700 | $ | (295 | ) | ||||
Meridian Bioscience, Inc., Strike Price USD 26.49, Expires 8/31/11, Broker Morgan Stanley & Co., Inc. |
12,700 | (797 | ) | |||||
MGE Energy, Inc., Strike Price USD 41.15, Expires 8/02/11, Broker UBS Securities LLC |
8,000 | (1,535 | ) | |||||
Middlesex Water Co., Strike Price USD 18.59, Expires 8/26/11, Broker UBS Securities LLC |
13,300 | (4,123 | ) | |||||
Mine Safety Appliances Co., Strike Price USD 36.26, Expires 8/26/11, Broker Morgan Stanley & Co., Inc. |
11,500 | (2,413 | ) | |||||
Myers Industries, Inc., Strike Price USD 10.50, Expires 8/09/11, Broker Morgan Stanley & Co., Inc. |
22,000 | (30,800 | ) | |||||
NACCO Industries, Inc., Class A, Strike Price USD 101.41, Expires 9/12/11, Broker Deutsche Bank Securities Corp. |
5,200 | (6,988 | ) | |||||
National Retail Properties, Inc., Strike Price USD 24.57, Expires 8/26/11, Broker UBS Securities LLC |
18,000 | (10,359 | ) | |||||
New Jersey Resources Corp.: |
||||||||
Strike Price USD 44.40, Expires 8/15/11, Broker Morgan Stanley & Co., Inc. |
10,000 | (2,910 | ) | |||||
Strike Price USD 44.59, Expires 8/24/11, Broker Morgan Stanley & Co., Inc. |
14,500 | (5,133 | ) | |||||
Northeast Utilities, Strike Price USD 34.90, Expires 9/13/11, Broker Deutsche Bank Securities Corp. |
32,600 | (12,002 | ) | |||||
NSTAR, Strike Price USD 46.90, Expires 9/06/11, Broker Deutsche Bank Securities Corp. |
14,100 | (1,415 | ) | |||||
Old Republic International Corp., Strike Price USD 12.26, Expires 8/12/11, Broker Morgan Stanley & Co., Inc. |
46,500 | | ||||||
Otter Tail Corp., Strike Price USD 22.22, Expires 9/14/11, Broker Morgan Stanley & Co., Inc. |
11,500 | (3,916 | ) | |||||
Raven Industries, Inc., Strike Price USD 51.19, Expires 8/12/11, Broker Citigroup Global Markets, Inc. |
8,300 | (20,436 | ) | |||||
Realty Income Corp., Strike Price USD 33.97, Expires 9/13/11, Broker Credit Suisse First Boston |
14,000 | (1,726 | ) | |||||
Roper Industries, Inc., Strike Price USD 81.68, Expires 8/02/11, Broker Goldman Sachs & Co. |
14,000 | (8,312 | ) | |||||
RPM International, Inc., Strike Price USD 23.25, Expires 8/26/11, Broker Credit Suisse First Boston |
15,000 | (3,096 | ) | |||||
S&T Bancorp, Inc., Strike Price USD 19.01, Expires 8/31/11, Broker Morgan Stanley & Co., Inc. |
6,200 | (2,607 | ) | |||||
SJW Corp., Strike Price USD 24.25, Expires 9/12/11, Broker Morgan Stanley & Co., Inc. |
8,800 | (3,328 | ) | |||||
Stepan Co., Strike Price USD 65.49, Expires 8/15/11, Broker Citigroup Global Markets, Inc. |
4,800 | (66,278 | ) | |||||
Tanger Factory Outlet Centers, Strike Price USD 27.54, Expires 8/19/11, Broker Credit Suisse First Boston |
13,500 | (13,537 | ) | |||||
Teleflex, Inc., Strike Price USD 62.54, Expires 9/09/11, Broker Morgan Stanley & Co., Inc. |
10,500 | (13,535 | ) | |||||
Tennant Co., Strike Price USD 40.62, Expires 8/26/11, Broker UBS Securities LLC |
12,300 | (38,338 | ) | |||||
Trustmark Corp., Strike Price USD 23.38, Expires 8/02/11, Broker Morgan Stanley & Co., Inc. |
12,000 | | ||||||
UDR, Inc., Strike Price USD 25.39, Expires 8/26/11, Broker Citigroup Global Markets, Inc. |
29,000 | (28,751 | ) | |||||
Universal Health Realty Income Trust, Strike Price USD 39.79, Expires 8/12/11, Broker Morgan Stanley & Co., Inc. |
6,800 | (10,304 | ) | |||||
Vector Group Ltd., Strike Price USD 18.33, Expires 9/09/11, Broker Deutsche Bank Securities Corp. |
38,200 | (9,176 | ) | |||||
Vectren Corp.: |
||||||||
Strike Price USD 28.18, Expires 8/12/11, Broker Morgan Stanley & Co., Inc. |
9,000 | (1,830 | ) | |||||
Strike Price USD 28.25, Expires 8/15/11, Broker Barclays Capital, Inc. |
13,000 | (961 | ) | |||||
Washington REIT, Strike Price USD 31.46, Expires 8/10/11, Broker Deutsche Bank Securities Corp. |
12,600 | (9,992 | ) | |||||
Weingarten Realty Investors, Strike Price USD 25.70, Expires 8/05/11, Broker Citigroup Global Markets, Inc. |
19,000 | (5,388 | ) | |||||
WesBanco, Inc., Strike Price USD 19.83, Expires 8/02/11, Broker Morgan Stanley & Co., Inc. |
12,000 | (8,735 | ) | |||||
WGL Holdings, Inc., Strike Price USD 37.65, Expires 8/08/11, Broker Morgan Stanley & Co., Inc. |
16,000 | (19,326 | ) | |||||
|
|
|||||||
Total Over-the-Counter Call Options Written |
(712,616 | ) | ||||||
|
|
|||||||
Total Options Written (Premiums Received $1,494,269) (0.4)% |
(1,097,623 | ) | ||||||
|
|
|||||||
Total Investments Net of Outstanding Options Written 99.5% |
305,642,474 | |||||||
Other Assets Less Liabilities 0.5% |
1,474,506 | |||||||
|
|
|||||||
Net Assets 100.0% |
$ | 307,116,980 | ||||||
|
|
* | The cost and unrealized appreciation (depreciation) of investments as of July 31, 2011 as computed for federal income tax purposes, were as follows: |
Aggregate cost |
$ | 304,991,547 | ||
|
|
|||
Gross unrealized appreciation |
$ | 25,798,117 | ||
Gross unrealized depreciation |
(24,049,567 | ) | ||
|
|
|||
Net unrealized appreciation |
$ | 1,748,550 | ||
|
|
(a) | All or a portion of security has been pledged/segregated as collateral in connection with outstanding options written. |
4 | JULY 31, 2011 |
Schedule of Investments (concluded) | BlackRock Strategic Equity Dividend Trust (BDT) | |
(b) | Investments in companies considered to be an affiliate of the Trust during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: |
Affiliate |
Shares Held at October 31, 2010 |
Net Activity | Shares Held at July 31, 2011 |
Realized Gain |
Income | |||||||||||||||
BlackRock Liquidity Funds, TempFund, Institutional Class |
5,854,617 | 6,350,762 | 12,205,379 | $ | 79 | $ | 7,787 |
(c) | Represents the current yield as of report date. |
| For Trust compliance purposes, the Trusts industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Trust management. These definitions may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. |
| Fair Value Measurements Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are categorized in three broad levels for financial reporting purposes as follows: |
| Level 1 price quotations in active markets/exchanges for identical assets and liabilities |
| 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 marketcorroborated inputs) |
| Level 3 unobservable inputs based on the best information available In the circumstances, to the extent observable inputs are not available (including the Trusts own assumptions used in determining the fair value of investments and derivative financial instruments) |
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 does not necessarily correspond to the Trusts perceived risk of investing in those securities. For information about the Trusts policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Trusts most recent financial statements as contained in its semi-annual report. The following tables summarize the inputs used as of July 31, 2011 in determining the fair valuation of the Trusts investments and derivative financial instruments:
Valuation Inputs |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: |
||||||||||||||||
Investments: |
||||||||||||||||
Long-Term Investments: |
||||||||||||||||
Common Stocks1 |
$ | 294,534,718 | | | $ | 294,534,718 | ||||||||||
Short-Term Securities |
12,205,379 | | | 12,205,379 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 306,740,097 | | | $ | 306,740,097 | ||||||||||
|
|
|
|
|
|
|
|
1 | See above Schedule of Investments for values in each industry. |
Valuation Inputs |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivative Financial Instruments2 |
||||||||||||||||
Liabilities: |
||||||||||||||||
Equity contracts |
$ | (286,918 | ) | $ | (810,705 | ) | | $ | (1,097,623 | ) | ||||||
|
|
|
|
|
|
|
|
2 | Derivative financial instruments are options which are shown at value. |
JULY 31, 2011 | 5 |
Item 2 |
| Controls and Procedures | ||
2(a) |
| The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants 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 registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants 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 Strategic Equity Dividend Trust |
||||||
By: | /s/ John M. Perlowski |
|||||
John M. Perlowski | ||||||
Chief Executive Officer (principal executive officer) of BlackRock Strategic Equity Dividend Trust |
Date: September 26, 2011
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 Strategic Equity Dividend Trust |
Date: September 26, 2011 |
By: | /s/ Neal J. Andrews |
|||||
Neal J. Andrews | ||||||
Chief Financial Officer (principal financial officer) of BlackRock Strategic Equity Dividend Trust |
Date: September 26, 2011