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 811-21656
Name of Fund: BlackRock Energy and Resources Trust (BGR) (formerly BlackRock Global Energy and Resources Trust)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Energy and Resources Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011
Registrant’s telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 10/31/2009
Date of reporting period: 11/01/2008 – 01/31/2009
Item 1 – Schedule of Investments
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Schedule of Investments January 31, 2009 (Unaudited) |
BlackRock Energy and Resources Trust (BGR) (formerly |
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BlackRock Global Energy and Resources Trust |
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(Percentages shown are based on Net Assets) |
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Shares |
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Common Stocks |
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Value |
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Chemicals—1.8% |
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127,900 |
|
Potash Corp. of Saskatchewan |
|
$ |
9,574,594 |
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|
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Coal—10.5% |
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632,600 |
|
Arch Coal, Inc. |
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9,609,194 |
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|
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667,821 |
|
Consol Energy, Inc. |
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|
18,204,800 |
|
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859,200 |
|
Massey Energy Co. |
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13,042,656 |
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71,000 |
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Patriot Coal Corp. (a) |
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364,230 |
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550,900 |
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Peabody Energy Corp. |
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13,772,500 |
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54,993,380 |
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Commercial Services—0.7% |
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269,231 |
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MYR Group, Inc. (a)(b) |
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3,876,926 |
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Electric—2.3% |
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513,000 |
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NRG Energy, Inc. (a)(c) |
|
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11,983,680 |
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Gas—1.7% |
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613,800 |
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Keyera Facilities Income Fund |
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8,754,628 |
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Metal Fabricate/Hardware—0.4% |
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91,900 |
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Tenaris S.A. (ADR) |
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1,818,701 |
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Mining—4.5% |
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204,300 |
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BHP Billiton Ltd. (ADR) |
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7,669,422 |
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247,736 |
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Goldcorp, Inc. |
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7,325,554 |
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426,500 |
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Silver Standard Resources, Inc. (a)(c) |
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8,500,145 |
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23,495,121 |
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Oil & Gas—45.5% |
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190,000 |
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Apache Corp. (d) |
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14,250,000 |
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468,673 |
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BG Group Plc |
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6,425,789 |
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565,700 |
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Brigham Exploration Co. (a) |
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1,414,250 |
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213,300 |
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Cabot Oil & Gas Corp. |
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5,863,617 |
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70,200 |
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Canadian Natural Resources Ltd. |
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2,495,610 |
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744,100 |
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Crescent Point Energy Trust |
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14,672,651 |
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748,100 |
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Delta Petroleum Corp. (a)(c) |
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3,246,754 |
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76,000 |
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Diamond Offshore Drilling, Inc. |
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4,769,760 |
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84,700 |
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EnCana Corp. |
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3,755,598 |
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66,200 |
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EOG Resources, Inc. |
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4,486,374 |
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1,410,900 |
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EXCO Resources, Inc. (a) |
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14,306,526 |
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219,900 |
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Forest Oil Corp. (a) |
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3,298,500 |
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1,040,800 |
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Galleon Energy, Inc. (a) |
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2,733,028 |
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115,000 |
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GMX Resources, Inc. (a)(c) |
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2,607,050 |
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166,100 |
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Goodrich Petroleum Corp. (a) |
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4,800,290 |
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90,000 |
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Hess Corp. |
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5,004,900 |
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314,000 |
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Noble Corp. |
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8,525,100 |
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189,700 |
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Occidental Petroleum Corp. |
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10,348,135 |
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676,200 |
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Penn Virginia Corp. |
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13,929,720 |
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968,700 |
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PetroHawk Energy Corp. (a) |
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19,093,077 |
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411,000 |
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Petroleo Brasileiro S.A. (ADR) |
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10,768,200 |
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293,200 |
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Plains Exploration & Production Co. (a) |
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6,192,384 |
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298,400 |
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Range Resources Corp. |
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10,694,656 |
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452,200 |
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Southwestern Energy Co. (a) |
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14,312,130 |
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334,358 |
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StatoilHydro ASA |
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5,760,831 |
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471,100 |
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Talisman Energy, Inc. |
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4,447,184 |
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317,400 |
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Transocean Ltd. (a) |
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17,336,388 |
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399,900 |
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Vermilion Energy Trust |
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8,452,932 |
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498,400 |
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Whiting Petroleum Corp. (a) |
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14,453,600 |
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238,445,034 |
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Oil & Gas Services—10.9% |
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347,800 |
|
Cameron International Corp. (a) |
|
|
8,055,048 |
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51,931 |
|
Core Laboratories N.V. |
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3,489,244 |
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345,800 |
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Halliburton Co. |
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5,965,050 |
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|
107,800 |
|
Helix Energy Solutions Group, Inc. (a) |
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|
555,170 |
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507,416 |
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National Oilwell Varco, Inc. (a) |
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13,416,079 |
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|
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1,485,900 |
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Petrofac Ltd. |
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|
8,944,018 |
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|
265,200 |
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Saipem S.p.A. |
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|
4,040,749 |
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|
113,459 |
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SBM Offshore N.V. |
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|
1,368,025 |
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271,500 |
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Schlumberger Ltd. |
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11,079,915 |
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56,913,298 |
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Pipelines—16.2% |
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451,400 |
|
AltaGas Income Trust |
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6,103,333 |
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|
51,600 |
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Buckeye Partners LP |
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2,069,160 |
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73,200 |
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Enbridge Energy Partners LP |
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2,320,440 |
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317,000 |
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Energy Transfer Partners LP |
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11,072,810 |
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653,105 |
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Enterprise Products Partners LP |
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14,342,186 |
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Shares |
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Common Stocks |
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Value |
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Pipelines— (cont’d) |
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312,500 |
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Equitable Resources, Inc. |
|
$ |
10,696,875 |
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|
519,400 |
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MarkWest Energy Partners LP |
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6,471,724 |
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145,800 |
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ONEOK Partners LP |
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7,435,800 |
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265,500 |
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Pembina Pipeline Income Fund |
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3,085,321 |
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175,400 |
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Plains All American Pipeline LP |
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|
6,630,120 |
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225,100 |
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Questar Corp. |
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|
7,648,898 |
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300,000 |
|
Targa Resources Partners LP |
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3,081,000 |
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245,200 |
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Williams Partners LP |
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4,043,348 |
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|
|
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85,001,015 |
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Transportation—2.0% |
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387,100 |
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Seaspan Corp. |
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|
4,095,518 |
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|
546,000 |
|
Ship Finance International Ltd. (c) |
|
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6,202,560 |
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|
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|
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10,298,078 |
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Total Long-Term Investments |
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505,154,455 |
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Shares/Beneficial Interest |
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Short-Term Securities |
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Money Market Funds—7.4% |
|
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20,123,044 |
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BlackRock Liquidity Funds, TempFund, 1.25%(e)(f) |
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|
20,123,044 |
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|
18,770,000 |
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BlackRock Liquidity Series, LLC, Money Market Series, 0.60%(e)(f)(g) |
|
|
18,770,000 |
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Total Short-Term Securities |
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38,893,044 |
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Contracts |
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Options Purchased |
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Exchange-Traded Call Options Purchased—0.0% |
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10 |
|
Penn Virginia Corp., strike price $40, expires 03/23/09 |
|
|
150 |
|
|
|
|
|
|
|
|
|
|
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Total Investments Before Outstanding
Options Written |
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544,047,649 |
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Options Written |
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Exchange-Traded Call Options Written—(0.4)% |
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(300 |
) |
Apache Corp., strike price $85, expires 03/23/09 |
|
|
(75,750 |
) |
|
|
(200 |
) |
Apache Corp., strike price $90, expires 04/20/09 |
|
|
(51,500 |
) |
|
|
(100 |
) |
Apache Corp., strike price $95, expires 02/23/09 |
|
|
(750 |
) |
|
|
(1,000 |
) |
Arch Coal, Inc., strike price $22.50, expires 04/20/09 |
|
|
(37,500 |
) |
|
|
(500 |
) |
Arch Coal, Inc., strike price $25, expires 04/20/09 |
|
|
(8,750 |
) |
|
|
(750 |
) |
BHP Billiton Ltd. (ADR), strike price $42.50, expires 03/23/09 |
|
|
(118,125 |
) |
|
|
(250 |
) |
Cabot Oil & Gas Corp., strike price $40, expires 04/20/09 |
|
|
(8,750 |
) |
|
|
(353 |
) |
Cameron International Corp., strike price $25, expires 02/23/09 |
|
|
(30,888 |
) |
|
|
(350 |
) |
Cameron International Corp., strike price $25, expires 03/23/09 |
|
|
(58,625 |
) |
|
|
(150 |
) |
Canadian Natural Resources Ltd., strike price $50, expires 03/23/09 |
|
|
(5,250 |
) |
|
|
(850 |
) |
Consol Energy, Inc., strike price $35, expires 03/23/09 |
|
|
(85,000 |
) |
|
|
(250 |
) |
Consol Energy, Inc., strike price $40, expires 04/20/09 |
|
|
(21,250 |
) |
|
|
(300 |
) |
Consol Energy, Inc., strike price $45, expires 02/23/09 |
|
|
(1,500 |
) |
|
|
(214 |
) |
Consol Energy, Inc., strike price $45, expires 04/20/09 |
|
|
(8,560 |
) |
|
|
(111 |
) |
Core Laboratories NV, strike price $85, expires 03/23/09 |
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(12,765 |
) |
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|
1 |
|
JANUARY 31, 2009 |
|
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|
Schedule of Investments (continued) |
BlackRock Energy and Resources Trust (BGR) (formerly |
|
|
BlackRock Global Energy and Resources Trust |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Options Written |
|
Value |
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||
|
|
|
|
|
|
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||
|
|
|
|
Exchange-Traded Call Options Written— (cont’d) |
|
|
|
|
|
|
(1,000 |
) |
Delta Petroleum Corp., strike price $7.50, expires 06/22/09 |
|
$ |
(52,500 |
) |
|
|
(100 |
) |
Diamond Offshore Drilling, Inc., strike price $70, expires 02/23/09 |
|
|
(11,000 |
) |
|
|
(200 |
) |
Diamond Offshore Drilling, Inc., strike price $70, expires 03/23/09 |
|
|
(51,500 |
) |
|
|
(150 |
) |
EnCana Corp., strike price $50, expires 02/23/09 |
|
|
(10,500 |
) |
|
|
(150 |
) |
EnCana Corp., strike price $55, expires 02/23/09 |
|
|
(2,250 |
) |
|
|
(250 |
) |
Energy Transfer Partners LP, strike price $35, expires 03/23/09 |
|
|
(27,500 |
) |
|
|
(175 |
) |
Energy Transfer Partners LP, strike price $40, expires 03/23/09 |
|
|
(3,500 |
) |
|
|
(300 |
) |
EOG Resources, Inc., strike price $80, expires 02/23/09 |
|
|
(14,250 |
) |
|
|
(600 |
) |
Equitable Resources, Inc., strike price $45, expires 03/23/09 |
|
|
(6,000 |
) |
|
|
(1,000 |
) |
EXCO Resources, Inc., strike price $17.50, expires 03/23/09 |
|
|
(12,500 |
) |
|
|
(415 |
) |
Goldcorp, Inc., strike price $30, expires 02/23/09 |
|
|
(74,700 |
) |
|
|
(200 |
) |
Goldcorp, Inc., strike price $30, expires 03/23/09 |
|
|
(58,500 |
) |
|
|
(415 |
) |
Goldcorp, Inc., strike price $32.50, expires 02/23/09 |
|
|
(37,350 |
) |
|
|
(250 |
) |
Goodrich Petroleum Corp., strike price $40, expires 02/23/09 |
|
|
(3,125 |
) |
|
|
(250 |
) |
Goodrich Petroleum Corp., strike price $40, expires 03/23/09 |
|
|
(16,250 |
) |
|
|
(325 |
) |
Hess Corp., strike price $65, expires 02/23/09 |
|
|
(21,125 |
) |
|
|
(750 |
) |
Massey Energy Co., strike price $25, expires 04/20/09 |
|
|
(26,250 |
) |
|
|
(1,350 |
) |
National Oilwell Varco, Inc., strike price $30, expires 02/23/09 |
|
|
(101,250 |
) |
|
|
(750 |
) |
National Oilwell Varco, Inc., strike price $30, expires 03/23/09 |
|
|
(127,500 |
) |
|
|
(312 |
) |
Noble Corp., strike price $32.50, expires 03/23/09 |
|
|
(24,960 |
) |
|
|
(900 |
) |
NRG Energy, Inc., strike price $30, expires 03/23/09 |
|
|
(22,500 |
) |
|
|
(500 |
) |
Occidental Petroleum Corp., strike price $60, expires 02/23/09 |
|
|
(38,750 |
) |
|
|
(100 |
) |
Occidental Petroleum Corp., strike price $65, expires 02/23/09 |
|
|
(1,500 |
) |
|
|
(100 |
) |
Occidental Petroleum Corp., strike price $65, expires 03/23/09 |
|
|
(8,250 |
) |
|
|
(100 |
) |
Occidental Petroleum Corp., strike price $70, expires 02/23/09 |
|
|
(500 |
) |
|
|
(150 |
) |
ONEOK Partners LP, strike price $55, expires 04/20/09 |
|
|
(15,375 |
) |
|
|
(500 |
) |
Peabody Energy Corp., strike price $30, expires 03/23/09 |
|
|
(57,500 |
) |
|
|
(500 |
) |
Peabody Energy Corp., strike price $35, expires 03/23/09 |
|
|
(18,750 |
) |
|
|
(10 |
) |
Penn Virginia Corp., strike price $45, expires 03/23/09 |
|
|
(150 |
) |
|
|
(58 |
) |
PetroHawk Energy Corp., strike price $25, expires 03/23/09 |
|
|
(3,190 |
) |
|
|
(1,000 |
) |
PetroHawk Energy Corp., strike price $30, expires 06/22/09 |
|
|
(95,000 |
) |
|
|
(300 |
) |
Petroleo Brasileiro SA (ADR), strike price $25, expires 02/23/09 |
|
|
(73,500 |
) |
|
|
(175 |
) |
Plains All American Pipeline LP, strike price $45, expires 05/18/09 |
|
|
(11,375 |
) |
|
|
(102 |
) |
Potash Corp. of Saskatchewan, strike price $100, expires 02/23/09 |
|
|
(1,020 |
) |
|
|
(400 |
) |
Potash Corp. of Saskatchewan, strike price $85, expires 03/23/09 |
|
|
(142,000 |
) |
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Options Written |
|
Value |
|
||
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|
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|
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||
|
|
|
|
Exchange-Traded Call Options Written— (cont’d) |
|
|
|
|
|
|
(50 |
) |
Potash Corp. of Saskatchewan, strike price $90, expires 03/23/09 |
|
$ |
(11,375 |
) |
|
|
(700 |
) |
Questar Corp., strike price $35, expires 02/23/09 |
|
|
(99,750 |
) |
|
|
(125 |
) |
Range Resources Corp., strike price $42.50, expires 02/23/09 |
|
|
(2,500 |
) |
|
|
(100 |
) |
Range Resources Corp., strike price $42.50, expires 03/23/09 |
|
|
(11,250 |
) |
|
|
(500 |
) |
Range Resources Corp., strike price $50, expires 03/23/09 |
|
|
(7,500 |
) |
|
|
(300 |
) |
Seaspan Corp., strike price $12.50, expires 03/23/09 |
|
|
(18,000 |
) |
|
|
(350 |
) |
Silver Standard Resources, Inc., strike price $22.50, expires 03/23/09 |
|
|
(55,125 |
) |
|
|
(700 |
) |
Silver Standard Resources, Inc., strike price $25, expires 03/23/09 |
|
|
(63,000 |
) |
|
|
(317 |
) |
Southwestern Energy Co., strike price $35, expires 03/23/09 |
|
|
(64,985 |
) |
|
|
(50 |
) |
Southwestern Energy Co., strike price $40, expires 02/23/09 |
|
|
(625 |
) |
|
|
(400 |
) |
Southwestern Energy Co., strike price $40, expires 03/23/09 |
|
|
(28,000 |
) |
|
|
(1,000 |
) |
Talisman Energy, Inc., strike price $10, expires 04/20/09 |
|
|
(100,000 |
) |
|
|
(250 |
) |
Talisman Energy, Inc., strike price $12.50, expires 02/23/09 |
|
|
(1,250 |
) |
|
|
(200 |
) |
Tenaris SA (ADR), strike price $25, expires 03/23/09 |
|
|
(9,500 |
) |
|
|
(250 |
) |
Whiting Petroleum Corp., strike price $35, expires 06/22/09 |
|
|
(102,500 |
) |
|
|
(250 |
) |
Whiting Petroleum Corp., strike price $45, expires 03/23/09 |
|
|
(8,750 |
) |
|
|
(100 |
) |
Whiting Petroleum Corp., strike price $50, expires 03/23/09 |
|
|
(2,000 |
) |
|
|
(350 |
) |
Whiting Petroleum Corp., strike price $55, expires 03/23/09 |
|
|
(8,750 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Exchange-Traded Call Options Written |
|
|
(2,291,693 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange-Traded Put Options Written—(0.0)% |
|
|
|
|
|
|
(1,250 |
) |
National Oilwell Varco, Inc., strike price $20, expires 02/23/09 |
|
|
(34,375 |
) |
|
|
(750 |
) |
Range Resources Corp., strike price $32.50, expires 02/23/09 |
|
|
(75,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Exchange-Traded Put Options Written |
|
|
(109,375 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Over-the-Counter Call Options Written—(0.3)% |
|
|
|
|
|
|
(50,000 |
) |
Arch Coal, Inc., strike price $23.23, expires 02/20/09, broker UBS Securities LLC |
|
|
(1,615 |
) |
|
|
(141,000 |
) |
BG Group Plc, strike price 10.52 GBP, expires 02/18/09, broker Morgan Stanley & Co., Inc. |
|
|
(29,220 |
) |
|
|
(25 |
) |
BG Group Plc, strike price 11 GBP, expires 03/20/09, broker Morgan Stanley & Co., Inc. |
|
|
(9,510 |
) |
|
|
(25,000 |
) |
Cabot Oil & Gas Corp., strike price $30, expires 02/17/09, broker UBS Securities LLC |
|
|
(17,210 |
) |
|
|
(350 |
) |
Cameron International Corp., strike price $27, expires 03/30/09, broker UBS Securities LLC |
|
|
(42,543 |
) |
|
|
(85,000 |
) |
Consol Energy, Inc., strike price $33, expires 02/20/09, broker UBS Securities LLC |
|
|
(509,193 |
) |
|
|
(300 |
) |
Consol Energy, Inc., strike price $36, expires 03/30/09, broker UBS Securities LLC |
|
|
(31,137 |
) |
|
|
(400 |
) |
Equitable Resources, Inc., strike price $37.50, expires 03/11/09, broker UBS Securities LLC |
|
|
(36,708 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
JANUARY 31, 2009 |
2 |
|
|
|
|
Schedule of Investments (continued) |
BlackRock Energy and Resources Trust (BGR) (formerly |
|
|
BlackRock Global Energy and Resources Trust |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Options Written |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
Over-the-Counter Call Options Written— (cont’d) |
|
|
|
|
|
|
(900 |
) |
NRG Energy, Inc., strike price $30, expires 04/22/09, broker Jefferies & Co., Inc. |
|
$ |
(46,458 |
) |
|
|
(800 |
) |
Peabody Energy Corp., strike price $31, expires 03/31/09, broker Barclays Capital, Inc. |
|
|
(88,616 |
) |
|
|
(500 |
) |
Penn Virginia Corp., strike price $37, expires 02/25/09, broker Jefferies & Co., Inc. |
|
|
(108 |
) |
|
|
(450,000 |
) |
Petrofac Ltd., strike price 4.32 GBP, expires 03/31/09, broker Morgan Stanley & Co., Inc. |
|
|
(323,584 |
) |
|
|
(30,000 |
) |
Petroleo Brasileiro SA (ADR), strike price $25.50, expires 02/20/09, broker UBS Securities LLC |
|
|
(60,798 |
) |
|
|
(75,000 |
) |
Petroleo Brasileiro SA (ADR), strike price $28.50, expires 03/20/09, broker UBS Securities LLC |
|
|
(124,650 |
) |
|
|
(467 |
) |
Plains Exploration & Production Co., strike price $30, expires 02/09/09, broker Jefferies & Co., Inc. |
|
|
(13 |
) |
|
|
(150 |
) |
Range Resources Corp., strike price $42, expires 03/27/09, broker Jefferies & Co., Inc. |
|
|
(19,997 |
) |
|
|
(80,000 |
) |
Saipem SpA, strike price 13.48 EUR, expires 03/31/09, broker Goldman Sachs & Co. |
|
|
(48,671 |
) |
|
|
(30,000 |
) |
SBM Offshore NV, strike price 11.30 EUR, expires 03/31/09, broker Morgan Stanley & Co., Inc. |
|
|
(7,173 |
) |
|
|
(35,000 |
) |
Seaspan Corp., strike price $13.92, expires 03/20/09, broker UBS Securities LLC |
|
|
(8,347 |
) |
|
|
(300 |
) |
Ship Finance International Ltd., strike price $13, expires 02/17/09, broker Jefferies & Co., Inc. |
|
|
(2,802 |
) |
|
|
(350 |
) |
Silver Standard Resources, Inc., strike price $19, expires 02/17/09, broker Jefferies & Co., Inc. |
|
|
(70,028 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Over-the-Counter Call Options Written |
|
|
(1,478,381 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Options
Written |
|
|
(3,879,449 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments Net of Outstanding Options Written—103.2% |
|
|
540,168,200 |
|
|
|
|
|
Liabilities in Excess of Other Assets—(3.2)% |
|
|
(16,609,454 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
$ |
523,558,746 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
The cost and unrealized appreciation (depreciation) of investments as of January 31, 2009, as computed for federal income tax purposes, were as follows: |
|
|
|
|
|
|
|
Aggregate cost |
|
$ |
729,762,616 |
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
29,529,410 |
|
|
Gross unrealized depreciation |
|
|
(215,244,378 |
) |
|
|
|
|
|
|
|
Net unrealized depreciation |
|
$ |
(185,714,968 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Non-income producing security. |
|
|
|
|
(b) |
Restricted security as to resale acquired 12/20/07. As of report date the Trust held 0.7% of its net assets, with a current market value of $3,876,926 and an original cost of $3,500,003 in these securities. |
|
|
|
|
(c) |
Security, or a portion of security, is on loan. |
|
|
|
|
(d) |
Security, or a portion thereof, pledged as collateral for outstanding options written. |
|
|
|
|
(e) |
Represents current yield as of report date. |
|
|
|
|
(f) |
Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Affiliate |
|
Net Activity |
|
Income |
|
||
|
|
|
|
|
|
|
||
|
BlackRock Liquidity Funds, TempFund |
|
|
20,123,044 |
|
$ |
16,963 |
|
|
BlackRock Liquidity Series, LLC, Money Market Series |
|
|
(6,767,250 |
) |
$ |
19,047 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(g) |
Security purchased with the cash proceeds from securities loans. |
|
|
|
|
• |
Forward foreign exchange contracts as of January 31, 2009 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Currency |
|
Currency |
|
Settlement |
|
Unrealized |
|
|||||
|
|
|
|
|
|
|
|
|
|||||
|
USD |
|
94,421 |
|
EUR |
|
72,000 |
|
2/02/09 |
|
$ 2,232 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KEY TO ABBREVIATIONS
|
||
|
ADR |
— |
American Depositary Receipt |
|
CAD |
— |
Canadian Dollar |
|
EUR |
— |
Euro |
|
GBP |
— |
British Pound |
|
NOK |
— |
Norwegian Krone |
|
USD |
— |
U.S. Dollar |
|
|
|
|
|
• |
Effective November 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows: |
|
|
|
|
|
|
|
• |
Level 1 - price quotations in active markets/exchanges for identical securities |
|
|
|
|
|
|
• |
Level 2 - other observable inputs (including, but not limited to: quoted prices for 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 circumstance, to the extent observable inputs are not available (including the Trust’s own assumption used in determining the fair value of investments) |
|
|
|
|
|
|
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its annual report. |
|
|
|
|
|
|
|
|
|
|
|
|
3 |
|
JANUARY 31, 2009 |
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Energy and Resources Trust (BGR) (formerly |
|
|
BlackRock Global Energy and Resources Trust |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
The following table summarizes the inputs used as of January 31, 2009 in determining the fair valuation of the Trust’s investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Valuation |
|
Investments in |
|
Other Financial Instruments** |
|
|||||
|
|
|
|
|
|
|
|||||
|
|
|
Assets |
|
Assets |
|
Liabilities |
|
|||
|
|
|
|
|
|
|
|
|
|||
|
Level 1 |
|
$ |
498,738,087 |
|
$ |
150 |
|
$ |
(2,401,068 |
) |
|
Level 2 |
|
|
45,309,412 |
|
|
2,232 |
|
|
(1,478,381 |
) |
|
Level 3 |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
544,047,499 |
|
$ |
2,382 |
|
$ |
(3,879,449 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
** |
Other financial instruments are options and forward foreign exchange contracts. |
|
|
|
|
|
|
|
|
|
|
|
|
|
JANUARY 31, 2009 |
4 |
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 13(a)-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 Energy and Resources Trust | |||
| By: | /s/ Donald C. Burke | ||
| Donald C. Burke | |||
| Chief Executive Officer of | |||
| BlackRock Energy and Resources Trust | |||
| Date: March 25, 2009 | |||
| 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/ Donald C. Burke | ||
| Donald C. Burke | |||
| Chief Executive Officer (principal executive officer) of | |||
| BlackRock Energy and Resources Trust | |||
| Date: March 25, 2009 | |||
| By: | /s/ Neal J. Andrews | ||
| Neal J. Andrews | |||
| Chief Financial Officer (principal financial officer) of | |||
| BlackRock Energy and Resources Trust | |||
| Date: March 25, 2009 | |||