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 811-10543

Name of Fund: BlackRock Core Bond Trust

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Robert S. Kapito, President, BlackRock Core Bond Trust,
          40 East 52nd Street, New York, NY 10022.

Registrant’s telephone number, including area code: (888) 825-2257

Date of fiscal year end: 10/31/2007

Date of reporting period: 05/01/2007 – 07/31/2007

Item 1 – Schedule of Investments

PORTFOLIO OF INVESTMENTS (unaudited)
JULY 31, 2007
BlackRock Core Bond Trust (BHK)
(Percentages shown are based on Net Assets)

Principal
        
Amount        
(000)
       
Description
Value
        LONG-TERM INVESTMENTS—156.6%  
       
Mortgage Pass-Through Securities—66.7%
   
        Federal Home Loan Mortgage Corp.,    
$ 76        5.00%, 8/01/33
$
 72,064
  5,817 1      5.50%, 11/01/18-5/01/36        5,667,411
  1,024        5.50%, 11/01/18-5/01/36   997,410
  2,612        6.00%, 2/01/13-12/01/18   2,632,067
  24        7.00%, 9/01/31   24,642
  64 2      7.423%, 5/01/32   64,748
        Federal National Mortgage Assoc.,    
  45        4.50%, 2/01/20   42,863
  9,389        5.00%, 11/01/17-6/01/37   9,105,482
  7,949 1      5.00%, 1/01/18-6/01/37   7,502,731
  625        5.50%, 1/01/18-4/01/34   615,782
       46,601 1      5.50%, 6/01/34-4/01/36   45,123,296
  9,911 1      6.00%, 2/01/36-11/01/36   9,826,348
  142        6.00%, 8/01/29-3/01/36   141,075
  321        7.00%, 1/01/31-7/01/32   332,745
  6,100        TBA, 5.00%, 8/20/22-8/14/37   5,733,278
  144,100        TBA, 5.50%, 8/20/22-8/14/37   139,185,937
  9,100        TBA, 6.00%, 8/14/37   9,014,687
  230     Government National Mortgage Assoc., 5.50%, 8/15/33
224,717
        Small Business Administration,    
  796        Ser. P10B, Class 1, 4.754%, 8/01/14   766,399
  1,438        Ser. P10B, Class 1, 5.136%, 8/01/13   1,423,483
        Total Mortgage Pass-Through Securities   238,497,165
        Federal Housing Administration Security—0.3%  
  1,034     FHA Hebre Home Hospital, 6.25%, 9/01/28   1,063,785
       
Agency Multiple Class Mortgage Pass-Through Securities—4.2%
        Federal Home Loan Mortgage Corp.,    
  1,200        Ser. 2562, Class PG, 5.00%, 1/15/18   1,172,802
  2,170        Ser. 2775, Class OE, 4.50%, 4/15/19   2,023,565
  3,000        Ser. 2806, Class VC, 6.00%, 12/15/19   3,051,174
  1,340        Ser. 2825, Class VP, 5.50%, 6/15/15   1,346,553
  1,300        Ser. 2883, Class DR, 5.00%, 11/15/19   1,240,711
  1,600        Ser. 2968, Class EG, 6.00%, 10/15/34   1,621,421
        Federal National Mortgage Assoc.,    
  2,825        Ser. 5, Class PK, 5.00%, 12/25/34   2,793,310
  1,656 2      Ser. 118, Class FD, 5.72%, 12/25/33   1,669,588
        Total Agency Multiple Class Mortgage Pass-Through Securities  
14,919,124
  
        Asset-Backed Securities—6.7%    
  2,800     Chase Manhattan Auto Owner Trust, Ser. B, Class A4, 4.88%, 6/15/12
2,790,122
  
  2,825     Citibank Credit Card Issuance Trust, Ser. A2, Class A2, 4.85%, 2/10/11
2,814,627
  
  522 2   Countrywide Asset-Backed Certificates, Ser. 16, Class 4AV1, 5.42%, 1/25/35
522,160
  
  2,825     DaimlerChrysler Auto Trust, Ser. A, Class A3, 5.00%, 5/08/10
2,820,712
  
  2,850     Ford Credit Auto Owner Trust, Ser. A, Class A4, 5.08%, 12/15/10
2,845,710
  
  2,300     Harley-Davidson Motorcycle Trust, Ser. 2, Class A2, 4.07%, 2/15/12   2,273,223
  2,825     MBNA Credit Card Master Note Trust, Ser. A1, Class A, 4.90%, 7/15/11
2,818,832
  
  2,500     Maryland Trust, Ser. 1, Class A, 5.55%, 12/10/65   2,404,250
 
267
 2,3   Merrill Lynch Mortgage Investors, Inc., Ser. HE2, Class A2A, 5.43%, 9/25/36
266,996
  
  318 2   New Century Home Equity Loan Trust, Ser. C, Class A2A, 5.40%, 1/25/36
317,841
  
  712 2   SLM Student Loan Trust, Ser. 5, Class A1, 5.36%, 1/25/18   712,027
  667 2   Structured Asset Investment Loan Trust, Ser. 1, Class A1, 5.40%, 1/25/36 666,676  
  2,725     USAA Auto Owner Trust, Ser. 1 Class A4, 5.04%, 12/15/11   2,723,185
        Total Asset-Backed Securities   23,976,361
       
Interest Only Asset-Backed Securities—0.3%
   
        Sterling COOFS Trust,    
  15,269 2      Ser. 1, 2.365%, 4/15/29   677,551
  12,217 2      Ser. 2, 2.081%, 3/30/30   328,321
        Total Interest Only Asset-Backed Securities   1,005,872
        Interest Only Mortgage-Backed Securities—1.0%  
        Federal Home Loan Mortgage Corp.,    
  2,219        Ser. 2579, Class HI, 5.00%, 8/15/17   254,118
  5,971        Ser. 2611, Class QI, 5.50%, 9/15/32   1,088,471
        Federal National Mortgage Assoc.,    
  25,134 2      Ser. 90, Class JH, 1.38%, 11/25/34   1,096,330
  4,126        Ser. 378, Class 5, 5.00%, 7/01/36   975,840
        Total Interest Only Mortgage-Backed Securities
 
 3,414,759
        Commercial Mortgage-Backed Securities—6.9%  
  2,180 2   Banc of America Commerical Mortgage, Inc., Ser. 1, Class A4, 4.871%, 11/10/42
2,141,329
  
  771     Commercial Mortgage Acceptance Corp., Ser. C2, Class A2, 6.03%, 9/15/30
770,481
  
  2,720     Credit Suisse First Boston Mortgage Securities Corp., Ser. CP5, Class A2, 4.94%, 12/15/35 2,632,149
  2,170 2   Credit Suisse Mortgage Capital Certificates, Ser. C2, Class A3, 5.542%, 1/15/49   2,098,290
  1,540 2   General Motor Acceptance Corp. Commercial Mortgage Securities, Inc., Ser. C3, Class A2, 7.179%, 8/15/36
1,578,465
  
  2,068     Goldman Sachs Mortgage Securities Corp. II, Ser. C1, Class A3, 6.135%, 10/18/30
2,071,001
  
  1,454 2   Heller Financial Commercial Mortgage Asset Co., Ser. PH1, Class A2, 6.847%, 5/15/31
1,472,323
  
       
JPMorgan Chase Commercial Mortgage Securities Corp.,
   
  2,140        Ser. C1, Class A3, 5.857%, 10/12/35   2,157,331
  2,180        Ser. CBX, Class A4, 4.529%, 1/12/37   2,103,777
  1,661 2   JPMorgan Commercial Mortgage Finance Corp., Ser. C10, Class A2, 7.371%, 8/15/32   1,720,069
  2,137 2   Morgan Stanley Capital Trust I, Ser. HF2, Class A2, 6.48%, 11/15/30
2,144,792
  
  3,500 2   Salomon Brothers Mortgage Securities VII, Ser. C1, Class A2, 7.52%, 12/18/09  
3,625,014
  
        Total Commercial Mortgage-Backed Securities
 
 24,515,021
        Corporate Bonds—59.3%    
        Aerospace & Defense—1.1%    
  150 4   Bombardier, Inc., 8.00%, 11/15/14 (Canada) 148,500
  1,195     DI Finance/DynCorp Intl., Ser. B, 9.50%, 2/15/13   1,218,900
        DRS Technologies, Inc.,    
  70        6.875%, 11/01/13   67,200
  80        7.625%, 2/01/18   76,800
  960     Northrop Grumman Corp., 7.875%, 3/01/26   1,153,707
  15     Sequa Corp., 9.00%, 8/01/09   15,600
  120 4   TransDigm, Inc., 7.75%, 7/15/14   117,600
  1,125     United Technologies Corp., 4.875%, 5/01/15
 
 1,069,263
        Total Aerospace & Defense   3,867,570
        Automotive—1.1%    
  265     Accuride Corp., 8.50%, 2/01/15   251,750
        AutoNation, Inc.,    
  150        7.00%, 4/15/14   140,250
  150 2      7.36%, 4/15/13   139,500

1

BlackRock Core Bond Trust (BHK) (continued)
(Percentages shown are based on Net Assets)

Principal          
Amount
          
(000)
  
Description
 
Value
        Automotive—(cont'd)      
$ 600     Ford Capital BV, 9.50%, 6/01/10 (Netherlands)  
$
 588,000
  360     Lear Corp., Ser. B, 8.75%, 12/01/16     333,000
  250     Metaldyne Corp., 10.00%, 11/01/13     245,000
  2,100     Sonic Automotive, Inc., Ser. B, 8.625%, 8/15/13               2,084,250
        Total Automotive     3,781,750
        Basic Materials—3.5%      
  995     AK Steel Corp., 7.75%, 6/15/12     985,050
  525     Abitibi-Consolidated, Inc., 6.00%, 6/20/13 (Canada)     414,750
  250 4   American Pacific Corp., 9.00%, 2/01/15     247,500
  80 2   Bowater, Inc., 8.36%, 3/15/10     75,600
  200     CPG Intl. I, Inc., 10.50%, 7/01/13     194,000
  30     Chemtura Corp., 6.875%, 6/01/16     27,675
  60     Domtar, Inc., 7.125%, 8/15/15 (Canada)     55,950
        Freeport-McMoRan Copper & Gold, Inc.,      
        1,020        8.375%, 4/01/17     1,071,000
  330 2      8.564%, 4/01/15     339,900
  66     Huntsman LLC, 12.00%, 7/15/12     72,600
        Ineos Group Holdings Plc (United Kingdom)      
  285        7.875%, 2/07/16 (EUR)     340,695
  1,330 4      8.50%, 2/15/16     1,216,950
  885     Innophos, Inc., 8.875%, 8/15/14     889,425
  515 4   Key Plastics LLC/Key Plastics Finance Corp., 11.75%, 3/15/13     489,250
  65     Lyondell Chemical Co., 8.00%, 9/15/14     69,550
  1,705     NewPage Corp., 10.00%, 5/01/12     1,739,100
        Noranda, Inc. (Canada)      
  825        6.00%, 10/15/15     826,287
  1,250        6.20%, 6/15/35     1,193,248
  610 2   Nova Chemicals Corp., 8.484%, 11/15/13 (Canada)     594,750
  1,430     Teck Cominco Ltd., 6.125%, 10/01/35 (Canada)     1,313,489
  430     Terra Capital, Inc., Ser. B, 7.00%, 2/01/17     406,350
  30 4   Verso Paper Holdings LLC/Verson Paper, Inc., 11.375%, 8/01/16     30,600
        Total Basic Materials     12,593,719
        Building & Development—0.2%      
  440     Goodman Global Holding Co., Inc., 7.875%, 12/15/12     440,000
  190     Nortek, Inc., 8.50%, 9/01/14     163,400
  85     North American Energy Partners, Inc., 8.75%, 12/01/11 (Canada)     85,425
        Total Building & Development     688,825
        Commercial Services—0.1%      
  100     FTI Consulting, Inc., 7.75%, 10/01/16     98,000
  200 4   Quebecor World, Inc., 9.75%, 1/15/15 (Canada)     192,000
        Total Commercial Services     290,000
        Consumer Products—2.3%      
  650 2   Ames True Temper, Inc., 9.36%, 1/15/12     643,500
  30 2   Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 7.86%, 5/15/14     28,800
  775     CVS Caremark Corp., 6.25%, 6/01/27     739,380
  300 4   Dollar General Corp., 10.625%, 7/15/15     265,500
  695     Federated Retail Holdings, Inc., 5.90%, 12/01/16     672,219
        General Nutrition Centers, Inc.,      
  500 4      9.796%, 3/15/14     465,000
  400 4      10.75%, 3/15/15     378,000
  850     Kimberly-Clark Corp., 6.625%, 8/01/37     854,969
  320     Lazy Days RV Center, Inc., 11.75%, 5/15/12     310,400
        Michaels Stores, Inc.,      
  470 4      10.00%, 11/01/14     455,900
  600 4      11.375%, 11/01/16     579,000
  1,000     Pantry, Inc. (The), 7.75%, 2/15/14     940,000
  200     Quiksilver, Inc., 6.875%, 4/15/15     177,000
  250     Reynolds American, Inc., 7.625%, 6/01/16     258,067
  710     Rite Aid Corp., 7.50%, 3/01/17     651,425
  390 4   Sally Holdings LLC, 10.50%, 11/15/16     368,550
  555     United Rentals NA, Inc., 7.00%, 2/15/14     564,712
        Total Consumer Products     8,352,422
        Containers & Packaging—0.9%      
        Berry Plastics Holding Corp.,      
  270        8.875%, 9/15/14     259,200
  180 2      9.235%, 9/15/14     172,800
  150   Crown Americas LLC/Crown Americas Capital Corp., 7.75%, 11/15/15    
  75   Graham Packaging Co., Inc., 8.50%, 10/15/12 70,125
 
300
 2,4   Impress Holdings BV, 8.485%, 9/15/13 (Netherlands)     300,000
  1,500     Owens Brockway, 8.25%, 5/15/13     1,507,500
  545     Pregis Corp., 12.375%, 10/15/13     604,950
        Total Containers & Packaging     3,062,325
        Ecological Services & Equipment—0.2%      
  590     Waste Services, Inc., 9.50%, 4/15/14     598,850
        Energy—7.5%      
  425     Amerada Hess Corp., 7.125%, 3/15/33     453,454
  2,350     Anadarko Petroleum Corp., 6.45%, 9/15/36     2,269,136
  140     Berry Petroleum Co., 8.25%, 11/01/16     135,100
  875     Burlington Resources Finance Co., 7.40%, 12/01/31 (Canada)     996,267
  250     Canadian Natural Resources Ltd., 6.25%, 3/15/38 (Canada)     238,977
  320     Chaparral Energy, Inc., 8.50%, 12/01/15     287,200
        Chesapeake Energy Corp.,      
  150        6.375%, 6/15/15     140,813
  20        6.875%, 11/15/20     18,625
  500     Cleveland Electric Illuminating Co., 5.95%, 12/15/36     456,463
       
Compagnie Generale de Geophysique-Veritas (France)
     
  55        7.50%, 5/15/15     53,625
  90        7.75%, 5/15/17     87,750
  235   Compton Petroleum Finance Corp., 7.625%, 12/01/13 (Canada)    
  125     Conoco Funding Co., 7.25%, 10/15/31 (Canada)     140,304
  535   ConocoPhillips Funding Co., 5.95%, 10/15/36 (Canada)    
  250   ConocoPhillips Holding Co., 6.95%, 4/15/29 272,487
  725     DTE Energy Co., 6.35%, 6/01/16     734,982
  100     Devon Energy Corp., 7.95%, 4/15/32     117,008
  115     Edison Mission Energy, 7.50%, 6/15/13     110,975
        El Paso Natural Gas Co.,      
  265        8.625%, 1/15/22     308,346
  225        8.875%, 6/15/32     260,411
  124     Elwood Energy LLC, 8.159%, 7/05/26     124,760
  1,000     EnCana Corp., 6.50%, 8/15/34 (Canada)     1,011,973
        Encore Acquisition Co.,      
  40        6.00%, 7/15/15     34,400
  60        7.25%, 12/01/17     54,000
  1,500     Energy East Corp., 6.75%, 7/15/36     1,553,364
  130     Exco Resources, Inc., 7.25%, 1/15/11     129,025
  950     Florida Power & Light Co., 4.95%, 6/01/35     817,356
  80     Grant Prideco, Inc., Ser. B, 6.125%, 8/15/15     74,400
  175 4   Halliburton Co., 7.60%, 8/15/96     194,672
  210     KCS Energy, Inc., 7.125%, 4/01/12     205,800
  700     Midamerican Energy Co., 5.80%, 10/15/36     660,024

2

BlackRock Core Bond Trust (BHK) (continued)
(Percentages shown are based on Net Assets)

Principal          
Amount
          
(000)
     
Description
    
Value
        Energy—(cont'd)      
$ 800     Midamerican Energy Holdings Co., 5.95%, 5/15/37  
$
748,654
  75     Midwest Generation LLC, Ser. B, 8.56%, 1/02/16     77,574
  155     Mirant Americas Generation LLC, 8.30%, 5/01/11     151,900
        NRG Energy, Inc.,      
  50        7.25%, 2/01/14     48,250
  285        7.375%, 2/01/16     275,025
         1,050 4   Nakilat, Inc., 6.067%, 12/31/33 (Qatar)           1,003,590
  450 4   OPTI, Inc., 8.25%, 12/15/14 (Canada)     450,000
  1,000     Ohio Edison Co., 6.875%, 7/15/36     1,038,433
  425     ONEOK Partners LP, 6.65%, 10/01/36     419,241
  130     Orion Power Holdings, Inc., 12.00%, 5/01/10 141,050
  1,650     Pemex Project Funding Master Trust, 9.625%, 12/02/08
1,733,325
  330 4   Sabine Pass LNG LP, 7.50%, 11/30/16     313,500
  700     Scottish Power Plc, 5.375%, 3/15/15 (United Kingdom)
688,425
  315 4   SemGroup LP, 8.75%, 11/15/15     310,275
  225     Southern California Edison Co., 5.625%, 2/01/36     209,895
 
460
 2,4   Stone Energy Corp., 9.11%, 7/15/10     458,850
  295     Suncor Energy, Inc., 6.50%, 6/15/38 (Canada) 300,686
  320 4   Targa Resources, Inc., 8.50%, 11/01/13     354,773
  550     Trans-Canada Pipelines Ltd., 5.85%, 3/15/36 (Canada)
523,190
  950     Valero Energy Corp., 6.625%, 6/15/37     945,583
  2,000     Virginia Electric & Power Co., Ser. A, 6.00%, 5/15/37
1,912,830
  625 4   Weatherford Int'l., Inc., 6.80%, 6/15/37     638,682
  375     Whiting Petroleum Corp., 7.25%, 5/01/12-5/01/13     351,025
  1,125     XTO Energy, Inc., 6.75%, 8/01/37     1,143,873
        Total Energy     26,918,449
        Entertainment & Leisure—0.8%      
  185     AMC Entertainment, Inc., 11.00%, 2/01/16     191,013
  80     Cinemark, Inc., Zero Coupon, 3/15/14     72,000
  1,000     Circus & Eldorado Joint Venture, 10.125%, 3/01/12     1,045,000
  150     Gaylord Entertainment Co., 6.75%, 11/15/14 139,500
  335 4   Greektown Holdings LLC, 10.75%, 12/01/13 343,375
  930     Harrah's Operating Co., Inc., 5.75%, 10/01/17 660,300
  260     Seneca Gaming Corp., Ser. B, 7.25%, 5/01/12 256,100
  215     Travelport LLC, 9.875%, 9/01/14     218,225
  40     Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 6.625%, 12/01/14  
37,100
        Total Entertainment & Leisure     2,962,613
        Financial Institutions—21.6%      
       
American Real Estate Partners LP/American Real Estate Finance Corp.,
     
  320        7.125%, 2/15/13     300,800
  3,165        8.125%, 6/01/11     3,038,400
 
170
 2,4   BMS Holdings, Inc., 12.40%, 2/15/12     168,300
        Bank of America NA,      
  1,550        Ser. BKNT, 6.00%, 10/15/36     1,476,189
  1,975        Ser. BKNT, 6.10%, 6/15/17     1,985,680
  325     Bank One Corp., 3.70%, 1/15/08     322,395
  1,400     BankBoston NA, 6.375%, 3/25/08-4/15/08     1,407,592
  4,970 2   Barclays Bank Plc NY, 5.37%, 3/13/09     4,974,821
  350 4   Belvoir Land LLC, Ser. A1, 5.27%, 12/15/47 315,980
  1,075     Berkshire Hathaway Finance Corp., 4.75%, 5/15/12     1,055,261
  1,100     Chubb Corp., 6.00%, 5/11/37     1,050,081
  600     CitiFinancial, 6.25%, 1/01/08     601,614
        Citigroup, Inc.,      
  3,950 5      3.625%, 2/09/09     3,862,666
  5,470 5      4.125%, 2/22/10     5,334,399
  1,020        4.25%, 7/29/09     1,004,544
  985        5.875%, 5/29/37     921,393
  525        6.875%, 2/15/98     534,679
  3,775 4   Depfa ACS Bank, 5.125%, 3/16/37 (Ireland)     3,398,534
        Ford Motor Credit Co. LLC,      
  340        7.80%, 6/01/12     323,715
  200 2      8.11%, 1/13/12     190,968
  525 4   Fort Irwin Land LLC, Ser. A-1, 5.03%, 12/15/25     488,938
  1,415     Goldman Sachs Group, Inc. (The), 5.35%, 1/15/16     1,339,569
       
HBOS Treasury Services Plc (United Kingdom)
     
  855 4      3.60%, 8/15/07     855,923
  825 4      3.75%, 9/30/08     809,975
  775     HSBC Bank NA, 5.875%, 11/01/34     727,496
  300     HSBC Holdings Plc, 6.50%, 5/02/36 (United Kingdom)     299,186
  240     iPayment, Inc., 9.75%, 5/15/14     229,200
  799 4   iPayment Investors LP, 11.625%, 7/15/14     798,815
  1,500 4   Irwin Land LLC, 5.40%, 12/15/47     1,393,290
  255     K&F Acquisition, Inc., 7.75%, 11/15/14     274,125
  1,525     MetLife, Inc., 5.70%, 6/15/35     1,400,523
  1,150 4   Metropolitan Global Funding I, 4.25%, 7/30/09     1,130,411
        Momentive Performance Materials, Inc.,      
  40 4      9.75%, 12/01/14     38,400
  770 4      10.125%, 12/01/14     744,975
        Morgan Stanley,      
  3,300 2      5.61%, 1/09/12     3,242,154
  525        6.25%, 8/09/26     501,371
  1,375        Ser. MTN, 5.55%, 4/27/17     1,294,303
  850 4   New York Life Global Funding, 3.875%, 1/15/09     832,079
  350     Ohana Military Communities LLC, Ser. 04I, 6.193%, 4/01/49     360,381
        Prudential Financial, Inc.,      
  500        5.90%, 3/17/36     469,821
  675        Ser. MTN, 5.70%, 12/14/36     611,898
  1,000 4   Prudential Funding LLC, 6.60%, 5/15/08     1,006,986
 
5,550
 2,4   Rabobank Nederland Global, 5.36%, 4/06/09 (Netherlands)     5,553,103
        Rainbow National Services LLC,      
  200 4      8.75%, 9/01/12     205,000
  1,455 4      10.375%, 9/01/14     1,585,950
  550 2   SLM Corp., 5.66%, 1/27/14     468,789
  335     Standard Aero Holdings, Inc., 8.25%, 9/01/14     351,750
  2,352 6   Structured Asset Receivable Trust, 1.649%, 1/21/10     2,350,711
        SunTrust Bank,      
  1,635        3.625%, 10/15/07     1,629,101
  995        4.00%, 10/15/08     981,656
  1,265        4.415%, 6/15/09     1,240,736
  235 4   TIAA Global Markets, Inc., 3.875%, 1/22/08     233,157
  975     Travelers Cos., Inc., Ser. MTN, 6.25%, 6/15/37     939,169
  2,790     US Bank NA, 6.50%, 2/01/08     2,797,363
  495 4   USAA Capital Corp., 4.00%, 12/10/07     492,426
  375     U.S. Bancorp, Ser. N, 3.95%, 8/23/07     374,692
  50 2   Universal City Florida Holding Co. I/II, 10.106%, 5/01/10     50,250
        Wells Fargo & Co.,      
  1,031        3.12%, 8/15/08     1,002,839
  355        4.20%, 1/15/10     347,211
  1,665        4.625%, 8/09/10     1,630,611
  435        4.875%, 1/12/11     428,990
  1,150     Wells Fargo Bank NA, 5.95%, 8/26/36     1,114,220

3

BlackRock Core Bond Trust (BHK) (continued)
(Percentages shown are based on Net Assets)

Principal          
Amount
          
(000)
      
Description
 
Value
        Financial Institutions—(cont'd)      
$ 605 4   Wimar Opco LLC/Wimar Opco Finance Corp., 9.625%, 12/15/14  
$
 508,200
        1,775 4   Xstrata Finance Ltd., 5.80%, 11/15/16 (Canada)               1,740,686
        Total Financial Institutions     77,144,440
        Health Care—2.0%      
  340     Bristol-Myers Squibb Co., 5.875%, 11/15/36     316,056
  2,275     Eli Lilly & Co., 5.55%, 3/15/37     2,096,670
  875     Tenet Healthcare Corp., 6.50%, 6/01/12     730,625
  995     Teva Pharmaceutical Finance LLC, 6.15%, 2/01/36     916,837
  870     UnitedHealth Group, Inc., 5.80%, 3/15/36     803,948
        WellPoint, Inc.,      
  955        5.85%, 1/15/36     865,805
  85        5.95%, 12/15/34     79,563
        Wyeth,      
  675        6.00%, 2/15/36     636,420
  925        5.95%, 4/01/37     878,115
        Total Health Care     7,324,039
        Industrials—1.2%      
  1,575     3M Co., Ser. MTN, 5.70%, 3/15/37     1,520,385
  360 4   AGY Holding Corp., 11.00%, 11/15/14     370,800
  140     Hexcel Corp., 6.75%, 2/01/15     133,000
  120     Park-Ohio Industries, Inc., 8.375%, 11/15/14     111,600
        RBS Global, Inc./Rexnord Corp.,      
  480        9.50%, 8/01/14     463,200
  505        11.75%, 8/01/16     505,000
  950 4   Sunstate Equipment Co. LLC, 10.50%, 4/01/13     931,000
  154     Trimas Corp., 9.875%, 6/15/12     153,230
        Total Industrials     4,188,215
        Media—6.2%      
        AOL Time Warner, Inc.,      
  90        6.625%, 5/15/29     87,160
  3,040        7.57%, 2/01/24     3,236,889
  205 5      7.625%, 4/15/31     218,796
  85        7.70%, 5/01/32     91,558
        Affinion Group, Inc.,      
  515        10.125%, 10/15/13     517,575
  180        11.50%, 10/15/15     180,900
  100     American Media Operations, Inc., Ser. B, 10.25%, 5/01/09     91,000
  430     CCH I Holdings LLC/CCH I Holdings Capital Corp., 11.00%, 10/01/15     430,000
  645     CMP Susquehanna Corp., 9.875%, 5/15/14     599,850
  180 2   Cablevision Systems Corp., Ser. B, 9.82%, 4/01/09     180,900
  110     CanWest MediaWorks, Inc., 8.00%, 9/15/12 (Canada)     105,600
       
Charter Communications Holdings II LLC/Charter Communications Holdings II Capital Corp.,
     
  1,210        10.25%, 9/15/10     1,231,175
  130        Ser. B, 10.25%, 9/15/10     131,950
        Comcast Corp.,      
  790        6.45%, 3/15/37     751,408
  2,375        6.50%, 1/15/17-11/15/35     2,367,867
  75     Dex Media West LLC/Dex Media Finance Co., Ser. B, 9.875%, 8/15/13     78,750
  125     DirecTV Holdings LLC/DirecTV Financing Co., 8.375%, 3/15/13     126,875
        EchoStar DBS Corp.,      
  175        5.75%, 10/01/08     173,688
  290        7.00%, 10/01/13     278,400
  75        7.125%, 2/01/16     70,875
 
600
 2,4   ION Media Networks, Inc., 8.61%, 1/15/12     594,000
  620     Idearc, Inc., 8.00%, 11/15/16     587,450
  485     Network Communications, Inc., 10.75%, 12/01/13     485,000
        News America Holdings, Inc.,      
  985        7.625%, 11/30/28     1,057,013
  825        7.70%, 10/30/25     906,621
  625        8.45%, 8/01/34     748,168
  560     Nexstar Finance, Inc., 7.00%, 1/15/14     543,200
        Nielsen Finance LLC/Nielsen Finance Co.,      
  300 4      Zero Coupon, 8/01/16     196,500
  965 4      10.00%, 8/01/14     974,650
  400     Primedia, Inc., 8.00%, 5/15/13     420,500
  865     RH Donnelley Corp., Ser. A-3, 8.875%, 1/15/16 841,212
  70     Sirius Satellite Radio, Inc., 9.625%, 8/01/13     66,850
        TCI Communications, Inc.,      
  620        7.875%, 8/01/13-2/15/26     678,503
  200        7.125%, 2/15/28     202,041
  1,000 4   TL Acquisitions, Inc., 10.50%, 1/15/15     920,000
  70     Time Warner Cos., Inc., 6.95%, 1/15/28     70,331
  350 4   Univision Communications, Inc., 9.75%, 3/15/15     318,500
  645     Vertis, Inc., 9.75%, 4/01/09     643,388
  1,230     Young Broadcasting, Inc., 10.00%, 3/01/11     1,119,300
        Total Media     22,324,443
        Real Estate—1.0%      
        AvalonBay Communities, Inc.,      
  350        6.625%, 9/15/11     364,495
  775        8.25%, 7/15/08     792,878
        Rouse Co.,      
  895        3.625%, 3/15/09     858,484
  1,650        5.375%, 11/26/13     1,517,701
        Total Real Estate     3,533,558
        Technology—1.4%      
        Amkor Technology, Inc.,      
  80        7.75%, 5/15/13     73,000
  145        9.25%, 6/01/16     139,200
  250     Celestica, Inc., 7.625%, 7/01/13 (Canada)     225,000
        Freescale Semiconductor, Inc.,      
  1,175 4      9.125%, 12/15/14     1,036,937
 
140
 2,4      9.235%, 12/15/14     128,450
  740     NXP BV/NXP Funding LLC, 9.50%, 10/15/15 (Netherlands)    
        Sanmina-SCI Corp.,      
  65        6.75%, 3/01/13     57,200
  565 1      8.125%, 3/01/16     500,025
  450     Sensata Technologies, 8.00%, 5/01/14 (Netherlands)     414,000
        SunGard Data Systems, Inc.,      
  105        9.125%, 8/15/13     105,525
  610        10.25%, 8/15/15     610,000
  945     Superior Essex Communications LLC/Essex Group, Inc., 9.00%, 4/15/12    
        Total Technology     4,866,837
        Telecommunications—7.7%      
  1,700     BellSouth Telecommunications, Zero Coupon, 12/15/95    
  210     Cincinnati Bell, Inc., 7.25%, 7/15/13     206,850
  415     Cricket Communications, Inc., 9.375%, 11/01/14     409,294
  3,000     Deutsche Telekom Intl. Finance BV, 5.75%, 3/23/16 (Netherlands)    
        Digicel Group Ltd. (Bermuda)      
  240 4      8.875%, 1/15/15     220,800
  560 4      9.125%, 1/15/15     515,606
  190 2   Hawaiian Telcom Communications, Inc., Ser. B, 10.86%, 5/01/13    
  475     Intelsat Corp., 9.00%, 6/15/16     476,187

4

BlackRock Core Bond Trust (BHK) (continued)
(Percentages shown are based on Net Assets)

Principal
          
Amount
          
(000)
     
Description
   
Value
        Telecommunications—(cont'd)      
        Intelsat Ltd. (Bermuda)      
$ 95 2      8.886%, 1/15/15  
$
95,475
  500        9.25%, 6/15/16     510,000
  200        11.25%, 6/15/16     209,000
  870 2      11.409%, 6/15/13     904,800
  295     Intelsat Subsidiary Holding Co. Ltd., 8.625%, 1/15/15 (Bermuda)
295,737
  770 4   Nordic Telephone Co. Holdings A.p.S., 8.875%, 5/01/16 (Denmark)     762,300
        Nortel Networks Ltd. (Canada)      
 
530
 2,4      9.61%, 7/15/11     536,625
  185 4      10.125%, 7/15/13     191,475
  155     PanAmSat Corp., 9.00%, 8/15/14     155,969
        Qwest Corp.,      
  200        7.875%, 9/01/11     203,000
  470 2      8.61%, 6/15/13     486,450
  780     SBC Communications, Inc., 6.45%, 6/15/34     772,457
        1,715     Sprint Capital Corp., 6.875%, 11/15/28                1,605,775
        Telecom Italia Capital S.A. (Luxembourg)      
  1,075        4.95%, 9/30/14     993,835
  1,550        6.00%, 9/30/34     1,366,652
  1,975     Telefonica Emisones SAU, 7.045%, 6/20/36 (Spain)     2,011,437
  725     Telefonica Europe BV, 7.75%, 9/15/10 (Netherlands)     766,911
  70     Verizon Global Funding Corp., 7.75%, 12/01/30     77,311
  125     Verizon Maryland, Inc., 5.125%, 6/15/33     101,262
        Verizon New Jersey, Inc.,      
  230        7.85%, 11/15/29     255,320
  335        Ser. A, 5.875%, 1/17/12     337,241
  3,150     Verizon Virginia, Inc., 4.625%, 3/15/13     2,995,971
        Vodafone Group Plc (United Kingdom)      
  1,465 2      5.45%, 12/28/07     1,465,541
  2,504        7.75%, 2/15/10     2,629,681
  1,100     West Corp., 11.00%, 10/15/16     1,094,500
  350 4   Wind Acquisition Finance S.A., 10.75%, 12/01/15 (Luxembourg)     360,500
        Windstream Corp.,      
  500        8.125%, 8/01/13     505,625
  280        8.625%, 8/01/16     283,500
        Total Telecommunications     27,713,676
        Transportation—0.5%      
  115     American Airlines, Inc., Ser. 99-1, 7.324%, 4/15/11     113,850
  110     Britannia Bulk Plc, 11.00%, 12/01/11 (United Kingdom)
110,000
  405     CHC Helicopter Corp., 7.375%, 5/01/14 (Canada)     376,650
  350     Canadian National Railway Co., 6.25%, 8/01/34 (Canada)     342,151
  47     Horizon Lines LLC, 9.00%, 11/01/12     49,937
  500 4   Navios Maritime Holdings, Inc., 9.50%, 12/15/14 (Marshall Islands)     507,500
  610 4   St. Acquisition Corp., 12.50%, 5/15/17     433,100
        Total Transportation     1,933,188
        Total Corporate Bonds     212,144,919
       
U.S. Government and Agency Securities—4.1%
     
  1,670     Aid to Israel, 5.50%, 4/26/24-9/18/33     1,695,861
  1,050     Resolution Funding Corp., 7/15/18-10/15/18     599,510
  1,655     Tennessee Valley Authority, Ser. C, 5.88%, 4/01/36     1,748,518
  925     U.S. Treasury Bonds, 4.75%, 2/15/37     900,430
  7,423     U.S. Treasury Inflation Protected Bond, 2.375%, 1/15/27     7,348,683
  2,280     U.S. Treasury Notes, 4.50%, 5/15/17     2,231,372
        Total U.S. Government and Agency Securities     14,524,374
        Foreign Government Bonds—0.9%      
  1,100     France, 3.75%, 4/25/17 (EUR)     1,424,149
  2,000     United Mexican States, 5.625%, 1/15/17     1,953,000
        Total Foreign Government Bonds     3,377,149
        Non-Agency Multiple Class Mortgage Pass-Through Securities—2.7%
       
First Union National Bank Commercial Mortgage,
     
  3,103        Ser. C3, Class A3, 6.423%, 8/15/33     3,179,639
  2,265        Ser. C4, Class A2, 6.223%, 12/12/33     2,312,536
  2,350     General Motor Acceptance Corp. Commercial Mortgage Securities, Inc., Ser. C4, Class A2, 4.93%, 7/10/39     2,278,260
  2,364     Structured Asset Securities Corp., Ser. AL1, Class A2, 3.45%, 2/25/32     2,075,942
        Total Non-Agency Multiple Class Mortgage      
        Pass-Through Securities     9,846,377
        Trust Preferred Stocks—2.8%      
  1,950 2   Allstate Corp., 6.50%, 5/15/57     1,799,709
  545     BAC Capital Trust XI, 6.625%, 5/23/36     542,776
 
1,550
 2,4,7   Barclays Bank Plc, 5.926% (United Kingdom)     1,480,492
  915 2,4,7   Credit Agricole S.A., 6.637% (France)     907,351
  1,550 2,7   Credit Suisse Ltd., 5.86% (Guernsey)     1,460,368
  790     Peco Energy Capital Trust IV, 5.75%, 6/15/33     658,278
  605 2   Progressive Corp., 6.70%, 6/15/37     579,959
 
1,400
2,4,7   Societe Generale, 5.922% (France)     1,345,074
  45     Superior Essex Holding Corp., Ser. A, 9.50%     36,000
  675 2   Travelers Cos., Inc., 6.25%, 3/15/67     634,364
  675 2,4   ZFS Finance Trust I, 6.50%, 5/09/37     632,112
        Total Trust Preferred Stocks     10,076,483
        Taxable Municipal Bond—0.3%      
  1,000     Illinois State Pension, 5.10%, 6/01/33     919,120
Shares
          
        Common Stocks—0.0%      
  1,895 8   Critical Care Systems Intl., Inc.     11,844
        Preferred Stocks—0.4%      
  60,000     Deutsche Bank Contingent Capital Trust II, 6.55%     1,464,000
        Total Long-Term Investments      
        (cost $569,827,276)     559,756,353
Principal
         
Amount
         
(000)
         
        SHORT-TERM INVESTMENTS—4.0%      
        U.S. Government and Agency Discount Notes—3.7%
  13,400 9   Federal Home Loan Bank Disc. Notes, 5.091%, 8/01/07     13,400,000
       
U.S. Government and Agency Security—0.3%
     
  1,174 1,9   U.S. Treasury Bonds, 5.10%, 8/06/07     1,173,625
        Total Short-Term Investments      
        (cost $14,573,625)     14,573,625
Notional
          
Amount
          
(000)
          
        OUTSTANDING OPTIONS PURCHASED—0.8%
        Interest Rate Swaps,      
  6,600    
   Trust pays 3-month LIBOR, Trust receives 5.39%, expires 3/19/12
    217,074
  4,900    
   Trust pays 3-month LIBOR, Trust receives 5.52%, expires 9/21/36
    253,379

5

BlackRock Core Bond Trust (BHK) (continued)
(Percentages shown are based on Net Assets)

Notional
         
Amount
                  
(000)
 
Description
  
Value
 
      OUTSTANDING OPTIONS PURCHASED—(cont'd)
  7,675      Trust pays 3-month LIBOR, Trust receives 6.025%, expires 12/12/12
$
378,531   
  7,675      Trust pays 3-month LIBOR, Trust receives 6.025%, expires 6/08/12   322,350  
  6,600      Trust pays 5.39%, Trust receives 3-month LIBOR, expires 3/19/12   410,850  
  11,200      Trust pays 5.47%, Trust receives 3-month LIBOR, expires 5/08/12   389,760  
  11,200      Trust pays 5.47%, Trust receives 3-month LIBOR, expires 5/08/12   668,192  
  4,900      Trust pays 5.52%, Trust receives 3-month LIBOR, expires 9/21/36   387,967  
  8,100      Trust pays 5.90%, Trust receives 3-month LIBOR, expires 8/31/07   5,913  
      Total Outstanding Options Purchased      
      (cost $2,679,035)   3,034,016  
      Total Investments before TBA sale      
      commitments and outstanding options      
      written (cost $587,079,93610)   577,363,994  
Principal
         
Amount
         
(000)
         
      TBA SALE COMMITMENT—(11.7)%      
$
        (43,500)   Federal National Mortgage Assoc., 5.50%, 8/14/37 (proceeds $41,740,053)   (42,004,687 )
Notional          
Amount
         
(000)
         
      OUTSTANDING OPTIONS WRITTEN—(0.5)%
      Interest Rate Swaps,      
  (5,300)      Trust pays 3-month LIBOR, Trust receives 5.135%, expires 4/21/08   (215,763 )
  (6,600)      Trust pays 3-month LIBOR, Trust receives 5.148%, expires 3/19/08   (266,244 )
  (4,500)      Trust pays 3-month LIBOR, Trust receives 5.485%, expires 10/28/19   (201,420 )
  (11,500)      Trust pays 3-month LIBOR, Trust receives 5.67%, expires 1/04/10   (458,310 )
  (6,600)      Trust pays 5.115%, Trust receives 3-month LIBOR, expires 3/19/08   (57,288 )
  (5,300)      Trust pays 5.135%, Trust receives 3-month LIBOR, expires 4/21/08   (52,024 )
  (4,500)      Trust pays 5.485%, Trust receives 3-month LIBOR, expires 10/28/19   (130,725 )
  (11,500)      Trust pays 5.67%, Trust receives 3-month LIBOR, expires 1/04/10   (402,661 )
      Total Outstanding Options Written (premium received $2,261,545)  
(1,784,435
 )
Total Investments net of TBA sale commitments and outstanding options written—149.2%
$
533,574,872  
Liabilities in excess of other assets (including $43,466,809 receivable from investments sold, $6,500,834 interest receivable,      
   $158,312,273 investments purchased payable and $66,479,688 reverse repurchase agreement payable)—(49.2)%
  (175,856,958 )
Net Assets—100%
$
       357,717,914  

 

 
1     

Entire or partial principal amount pledged as collateral for reverse repurchase agreements.
 
2     

Variable rate security. Rate shown is interest rate as of July 31, 2007.
 
3     

Represents an investment in affiliate.
 
4     

Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of July 31, 2007, the Trust held 12.6% of its net assets, with a current market value of $44,986,967, in securities restricted as to resale.
 
5     

Security, or a portion thereof, pledged as collateral with a value of $4,691,372 on 34 long Euro Schatz futures contracts expiring September 2007, 1,530 long U.S. Treasury Bond futures contracts expiring September 2007, 592 short Eurodollar futures contracts expiring September to December 2007 and 1,240 short U.S. Treasury Note futures contracts expiring September 2007. The notional value of such contracts on July 31, 2007 was $110,937,117, with an unrealized gain of $53,518.
 
6     

Illiquid security. As of July 31, 2007, the Trust held 0.7% of its net assets, with a current market value of $2,350,711, in these securities.
 
7     

The security is a perpetual bond and has no stated maturity date.
 
8     

Non-income producing security.
 
9     

Rate shown is the yield to maturity as of the date of purchase.
 
10     

Cost for federal income tax purposes is $587,543,786. The net unrealized depreciation on a tax basis is $10,179,792, consisting of $3,537,882 gross unrealized appreciation and $13,717,674 gross unrealized depreciation.
 
 

For Trust compliance purposes, the Trust's sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.
 
 
KEY TO ABBREVIATIONS
           
     COOFS — 
 Certificates and Confirmations of Originator Fees     
EUR — 
 Euro
LIBOR — 
 London Interbank Offered Rate
TBA — 
 To Be Announced
 

6

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 and 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 (17 CFR 270.30a-3(d)) 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 Core Bond Trust

           By:   /s/ Donald C. Burke
      Donald C. Burke,
      Treasurer of
      BlackRock Core Bond Trust

Date: September 20, 2007

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/ Robert S. Kapito
    Robert S. Kapito,
    President (principal executive officer) of
    BlackRock Core Bond Trust

Date: September 20, 2007

              By:   /s/ Donald C. Burke
    Donald C. Burke,
    Treasurer (principal financial officer) of
    BlackRock Core Bond Trust

Date: September 20, 2007