BlackRock International Growth and Income Trust

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 811-22032

Name of Fund: BlackRock International Growth and Income Trust (BGY)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock International Growth and Income Trust, 55 East 52nd Street, New York, NY 10055

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

Date of fiscal year end: 10/31/2011

Date of reporting period: 01/31/2011


Item 1       Schedule of Investments


Schedule of Investments January 31, 2011 (Unaudited)    BlackRock International Growth and Income Trust (BGY)
   (Percentages shown are based on Net Assets)

 

      Shares    Value

Common Stocks

         

Australia – 1.3%

         

Australia & New Zealand Banking Group Ltd.(a)

       366,500        $ 8,685,958  

OZ Minerals Ltd.(a)

       3,737,900          6,108,777  
               
            14,794,735   

Austria – 0.9%

         

Erste Group Bank AG(a)

       74,700          3,732,197  

Voestalpine AG(a)

       160,101          7,182,560  
               
            10,914,757  
               

Belgium – 0.8%

         

Anheuser-Busch InBev NV(a)

       159,800          8,817,310  
               

Brazil – 3.0%

         

Banco Bradesco SA, Preference Shares(a)

       203,300          3,756,345  

BM&FBovespa SA(a)

       856,344          5,984,827  

Cia Energetica de Minas Gerais - ADR

       128,100          2,116,212  

Gol Linhas Aereas Inteligentes SA - Preference Shares(a)

       548,200          7,830,254  

HRT Participacoes em Petroleo SA(a)(b)

       6,600          7,198,056  

Hypermarcas SA(a)(b)

       421,600          5,017,873  

PDG Realty SA Empreendimentos e Participacoes(a)

       608,200          3,363,991  
               
            35,267,558  
               

Canada – 8.2%

         

Agrium, Inc.(a)

       90,200          7,972,778  

Barrick Gold Corp.(a)

       302,400          14,367,024  

Canadian National Railway Co.(a)

       233,400          15,847,860  

Magna International Inc., Class A(a)

       86,000          5,019,820  

Manulife Financial Corp.(a)

       370,000          6,447,795  

Niko Resources Ltd.(a)

       47,200          4,595,796  

Pacific Rubiales Energy Corp.(a)

       314,100          10,840,661  

Royal Bank of Canada(a)

       97,100          5,205,301  

Sun Life Financial, Inc.(a)

       198,000          6,230,569  

Toronto-Dominion Bank (The)(a)

       74,000          5,539,562  

TransCanada Corp.

       258,700          9,442,737  

Viterra, Inc.(a)

       344,800          4,028,721  
               
            95,538,624  
               

China – 1.7%

         

China Construction Bank Corp. - H Shares(a)

       5,388,800          4,762,371  

China Merchants Bank Co. Ltd. - H Shares(a)

       1,948,500          4,622,828  

E-Commerce China Dangdang, Inc. - ADR(a)(b)

       31,600          894,280  

iSoftstone Holdings Ltd. - ADR(b)

       14,500          272,600  

Lentuo International, Inc. - ADR(b)

       155,700          1,103,913  

Sinopharm Group Co. - H Shares

       266,400          946,381  

Tencent Holdings Ltd.(a)

       248,300          6,479,802  

Want Want China Holdings Ltd.

       1,015,200          846,661  
               
            19,928,836  
               

Columbia – 0.7%

         

Petrominerales Ltd.(a)

       193,600          7,547,954  
               

Denmark – 1.2%

         

Carlsberg A/S, Class B(a)

       52,900          5,259,253  

Pandora A/S(a)(b)

       93,700          5,980,485  

Tryg A/S(a)

       43,700          2,373,890  
               
            13,613,628  
               

France – 3.3%

         

AXA SA(a)

       283,300          5,995,696  

BNP Paribas(a)

       78,840          5,884,504  

Cap Gemini SA(a)

       94,500          4,754,097  

GDF Suez(a)

       183,160          7,254,949  

Societe Generale(a)

       19,600          1,266,025  

Technip SA(a)

       84,300          8,189,699  

Unibail-Rodamco SE(a)

       24,752          4,725,602  
               
            38,070,572  
               

Germany – 10.4%

         

Allianz SE(a)

       43,500          6,046,820  

BASF SE(a)

       88,100          6,782,292  

Bayer AG(a)

       91,400          6,748,926  

Bayerische Motoren Werke AG(a)

       73,800          5,663,938  

Deutsche Post AG(a)

       515,700          9,472,001  

Deutsche Telekom AG(a)

       435,600          5,807,053  

E.ON AG(a)

       158,000          5,271,220  

Fresenius Medical Care AG & Co. KGaA(a)

       151,300          8,851,358  

K+S AG(a)

       107,300          7,937,336  

Kabel Deutschland Holding AG(a)(b)

       132,400          6,670,802  

Merck KGaA(a)

       66,800          5,716,203  

Metro AG(a)

       78,100          5,502,230  

RWE AG(a)

       125,700          9,065,687  

SAP AG - ADR(a)

       132,900          7,694,910  

Siemens AG(a)

       92,100          11,806,625  

Software AG(a)

       21,500          3,397,599  

Volkswagen AG, Preference Shares(a)

       46,044          7,449,179  
               
            119,884,179  
               

Gibraltar – 0.2%

         

PartyGaming Plc(a)(b)

       938,500          2,863,801  
               

Hong Kong – 4.3%

         

AIA Group Ltd.(a)(b)

       2,504,000          6,888,959  

Cheung Kong Holdings Ltd.

       349,000          5,795,377  

China Merchants Holdings International Co. Ltd.(a)

       1,653,000          7,228,248  

China Mobile Ltd.(a)

       603,500          5,932,328  

China Resources Enterprise Ltd.(a)

       955,500          3,763,143  

China Unicom Hong Kong Ltd.(a)

       1,879,100          3,139,046  

CNOOC Ltd. - ADR

       2,200          489,852  

Hang Seng Bank Ltd.(a)

       164,700          2,724,696  

Hong Kong Exchanges and Clearing Ltd.(a)

       250,700          5,776,558  

Melco Crown Entertainment Ltd. - ADR(a)(b)

       361,200          2,802,912  

New World Development Ltd.(a)

       2,238,900          4,276,515  

Wing Hang Bank Ltd.

       65,400          882,613  
               
            49,700,247  
               

India – 0.5%

         

ICICI Bank Ltd.

       95,500          2,141,535  

Infosys Technologies Ltd. - ADR(a)

       46,500          3,148,515  
               
            5,290,050  
               

Indonesia – 0.4%

         

Adaro Energy Tbk PT

       15,397,300          3,864,285  

Bank Mandiri Tbk PT

       1,701,100          1,127,955  
               
            4,992,240  
               

Ireland – 1.7%

         

Covidien Plc

       173,900          8,255,033  

WPP Plc(a)

       903,800          11,177,159  
               
            19,432,192  
               

Israel – 0.1%

         

Teva Pharmaceutical Industries Ltd. - ADR(a)

       18,500          1,011,025  
               

 

 

         JANUARY 31, 2011   1


Schedule of Investments (continued)    BlackRock International Growth and Income Trust (BGY)
   (Percentages shown are based on Net Assets)

 

      Shares    Value

Common Stocks

         

Italy – 2.4%

         

ENI SpA(a)

       723,000        $ 17,117,810  

Intesa Sanpaolo SpA(a)

       1,807,300          6,018,773  

Parmalat Spa(a)

       1,494,600          4,736,964  
               
            27,873,547  
               

Japan – 16.1%

         

Bank of Yokohama Ltd. (The)(a)

       226,500          1,134,722  

Bridgestone Corp.(a)

       359,200          6,903,416  

Canon, Inc.(a)

       119,000          5,857,624  

Chiba Bank Ltd. (The)(a)

       963,900          6,008,195  

Dena Co., Ltd.(a)

       132,200          4,788,599  

Honda Motor Co. Ltd.(a)

       279,300          12,038,444  

Hoya Corp.(a)

       219,700          5,182,854  

IHI Corp.(a)

       3,998,000          9,075,145  

ITOCHU Corp.(a)

       691,600          7,527,806  

Japan Tobacco, Inc.(a)

       2,183          8,212,079  

JGC Corp.(a)

       324,000          7,924,410  

JSR Corp.(a)

       388,900          8,018,175  

KDDI Corp.(a)

       642          3,613,976  

Komatsu Ltd.(a)

       236,200          7,045,215  

Kubota Corp.(a)

       898,400          9,149,733  

Marubeni Corp.(a)

       1,058,400          7,968,622  

Matsui Securities Co. Ltd.(a)

       295,400          1,963,235  

Mitsubishi Chemical Holdings Corp.(a)

       680,900          4,745,499  

Mitsubishi UFJ Financial Group, Inc.(a)

       1,115,800          5,795,374  

Nikon Corp.(a)

       180,800          4,193,130  

Nomura Holdings, Inc.(a)

       313,300          1,910,397  

NSK Ltd.(a)

       1,542,000          14,787,595  

NTT Data Corp.(a)

       1,630          5,303,672  

Sekisui Chemical Co. Ltd.(a)

       631,000          4,845,381  

SMC Corp.(a)

       41,100          6,973,088  

Sumitomo Heavy Industries Ltd.(a)

       1,595,000          10,178,638  

Sumitomo Mitsui Financial Group, Inc.(a)

       160,300          5,450,199  

Teijin Ltd.(a)

       1,051,900          5,071,862  

Tokio Marine Holdings, Inc.(a)

       171,000          5,094,723  
               
            186,761,808  
               

Luxembourg – 0.9%

         

APERAM - NY Registry Shares(b)

       13,080          533,010  

ArcelorMittal - NY Registry Shares(a)

       261,600          9,543,168  
               
            10,076,178  
               

Malaysia – 1.3%

         

CIMB Group Holdings Bhd(a)

       4,231,200          11,624,622  

Petronas Chemicals Group Bhd(b)

       1,996,800          3,985,121  
               
            15,609,743  
               

Mexico – 1.0%

         

Fomento Economico Mexicano SAB de CV - ADR(a)

       114,400          6,071,208  

Grupo Mexico SAB de CV, Series B

       320,300          1,257,595  

Grupo Modelo SAB de CV, Series C(a)

       623,300          3,831,977  
               
            11,160,780  
               

Netherlands – 5.0%

         

Aegon NV(a)(b)

       432,600          3,201,745  

Corio NV(a)

       16,700          1,090,755  

ING Groep NV(a)(b)

       418,800          4,769,036  

Koninklijke DSM NV(a)

       79,900          4,729,149  

Koninklijke KPN NV(a)

       333,800          5,253,377  

Randstad Holding NV(a)(b)

       173,000          9,447,458  

Royal Dutch Shell Plc, Class A - ADR(a)

       356,700          25,322,133  

VimpelCom Ltd. - ADR(a)

       257,000          3,556,880  
               
            57,370,533  
               

Norway – 0.5%

         

Yara International ASA(a)

       101,100          5,692,753  
               

Poland – 0.3%

         

KGHM Polska Miedz SA(a)

       62,300          3,646,278  
               

Russia – 0.7%

         

Lukoil OAO - ADR(a)

       55,300          3,426,941  

Mail.ru Group Ltd. - GDR(b)(c)

       23,300          873,750  

Rosneft Oil Co. - GDR

       407,600          3,486,880  
               
            7,787,571  
               

Singapore – 1.2%

         

CapitaLand Ltd.(a)

       1,032,771          2,920,870  

Singapore Telecommunications Ltd.(a)

       2,348,100          5,718,772  

Straits Asia Resources Ltd.(a)

       2,388,900          4,893,275  
               
            13,532,917  
               

South Africa – 0.8%

         

MTN Group Ltd.(a)

       288,000          4,936,026  

Naspers Ltd.(a)

       85,400          4,445,986  
               
            9,382,012  
               

South Korea – 2.7%

         

Hyundai Marine & Fire Insurance Co. Ltd.(a)

       255,100          6,695,165  

Kia Motors Corp.(a)

       152,800          7,486,211  

KT Corp. - ADR(a)(b)

       280,000          5,510,400  

Samsung Electronics Co. Ltd.(a)

       8,100          7,111,687  

Samsung Securities Co. Ltd.(a)

       50,000          3,954,345  
               
            30,757,808  
               

Spain – 1.1%

         

Telefonica SA(a)

       522,200          13,073,533  
               

Sweden – 0.3%

         

Nordea Bank AB(a)

       280,800          3,407,067  
               

Switzerland – 6.1%

         

Adecco SA(a)

       97,800          6,334,552  

Cie Financiere Richemont SA(a)

       71,800          3,908,316  

Credit Suisse Group AG(a)

       114,900          5,129,660  

GAM Holding AG(a)(b)

       81,800          1,458,952  

Julius Baer Group Ltd.(a)

       143,300          6,484,463  

Nestle SA(a)

       160,200          8,654,934  

Novartis AG(a)

       165,900          9,235,623  

Roche Holding AG(a)

       27,600          4,199,010  

Swiss Reinsurance Co. Ltd.(a)

       104,200          5,956,696  

Tyco Electronics Ltd.

       53,700          1,945,551  

UBS AG(a)(b)

       222,900          3,990,880  

Xstrata Plc(a)

       602,000          13,333,139  
               
            70,631,776  
               

Taiwan – 3.2%

         

AU Optronics Corp. - ADR(a)(b)

       492,700          4,729,920  

Catcher Technology Co. Ltd.

       1,605,300          6,620,307  

Hon Hai Precision Industry Co. Ltd.(a)

       1,547,632          6,602,801  

Mega Financial Holding Co. Ltd.(a)

       7,811,100          6,321,479  

 

2        JANUARY 31, 2011    


Schedule of Investments (continued)    BlackRock International Growth and Income Trust (BGY)
   (Percentages shown are based on Net Assets)

 

     Shares    Value

Common Stocks

         

Taiwan (concluded)

         

Siliconware Precision Industries Co. - ADR(a)

       881,500        $ 6,108,795  

Taiwan Semiconductor Manufacturing Co. Ltd. - ADR(a)

       544,084          7,111,178  
               
            37,494,480  
               

Thailand – 1.0%

         

Bangkok Bank Public Co. Ltd.

       800,500          3,910,657  

Banpu Public Co. Ltd.

       346,700          8,225,172  
               
            12,135,829  
               

United Kingdom – 10.8%

         

Aegis Group Plc(a)

       2,166,000          4,834,672  

Barclays Plc - ADR(a)

       325,000          6,110,000  

Barratt Development Plc(a)(b)

       886,900          1,308,916  

Bellway Plc(a)

       125,600          1,231,312  

Britvic Plc(a)

       726,000          5,218,164  

Cairn Energy Plc(a)(b)

       617,400          4,095,071  

Carnival Plc(a)

       130,000          5,922,816  

Cookson Group Plc(a)(b)

       802,700          8,537,768  

GKN PLC(a)

       1,067,400          3,447,722  

GlaxoSmithKline Plc(a)

       475,600          8,587,581  

HSBC Holdings Plc(a)

       1,482,500          16,163,719  

Imperial Tobacco Group Plc(a)

       395,000          11,275,074  

Inchcape Plc(a)(b)

       837,120          4,980,279  

International Consolidated Airlines Group(a)(b)

       1,530,000          6,283,911  

Kazakhmys Plc(a)

       234,000          5,638,329  

National Grid Plc(a)

       872,200          7,735,259  

Persimmon Plc(a)

       181,100          1,185,582  

Royal Bank of Scotland Group Plc(a)(b)

       5,849,600          3,900,533  

Taylor Wimpey Plc(a)(b)

       2,596,500          1,439,737  

Tullow Oil Plc(a)

       330,500          7,031,403  

Vodafone Group Plc - ADR(a)

       375,600          10,652,016  
               
            125,579,864  
               

United States – 0.4%

         

NII Holdings, Inc.(a)(b)

       120,200          5,045,996  
               

Total Long-Term Investments
(Cost – $1,026,145,209) – 94.5%

            1,094,688,181  
               

Short-Term Securities

         

BlackRock Liquidity Funds, TempFund, Institutional Class,

         

0.17%(d)(e)

       62,861,005          62,861,005  
               

Total Short-Term Securities
(Cost – $62,861,005) – 5.5%

            62,861,005  
               

Total Investments Before Outstanding Options Written
(Cost – $1,089,006,214*) – 100.0%

            1,157,549,186  
               
     Contracts     

Options Written

         

Exchange-Traded Call Options Written – (0.2)%

         

Agrium, Inc., Strike Price USD 85, Expires 2/22/11

       250          (123,750 )

Agrium, Inc., Strike Price USD 90, Expires 3/21/11

       250          (92,500 )

ArcelorMittal - NY Registry Shares, Strike Price USD 37, Expires 2/22/11

       65          (17,615 )

ArcelorMittal - NY Registry Shares, Strike Price USD 38, Expires 2/22/11

       65          (7,475 )

Barclays Plc, Strike Price USD 19, Expires 3/21/11

       895          (78,312 )

Barclays Plc, Strike Price USD 20, Expires 3/21/11

       895          (42,512 )

Barrick Gold Corp., Strike Price USD 47, Expires 3/21/11

       300          (70,500 )

Barrick Gold Corp., Strike Price USD 47, Expires 4/18/11

       1,370          (391,135 )

Canadian National Railway Co., Strike Price USD 70, Expires 2/21/11

       563          (22,520 )

Canadian National Railway Co., Strike Price USD 70, Expires 3/21/11

       440          (44,000 )

Covidien Plc, Strike Price USD 50, Expires 3/21/11

       515          (42,488 )

Covidien Plc, Strike Price USD 47.50, Expires 4/18/11

       440          (96,800 )

E-Commerce China Dangdang, Inc. - ADR, Strike Price USD 35, Expires 3/21/11

       175          (16,188 )

KT Corp. - ADR, Strike Price USD 20, Expires 3/21/11

       340          (20,400 )

Magna International Inc., Class A, Strike Price USD 60, Expires 3/21/11

       600          (124,500 )

NII Holdings, Inc., Strike Price USD 44, Expires 3/21/11

       405          (66,825 )

NII Holdings, Inc., Strike Price USD 43, Expires 3/21/11

       255          (51,000 )

Royal Dutch Shell Plc, Class A - ADR, Strike Price USD 70, Expires 3/21/11

       500          (106,250 )

SAP AG - ADR, Strike Price USD 52.50, Expires 2/22/11

       730          (408,800 )

Teva Pharmaceutical Industries Ltd. - ADR, Strike Price USD 55, Expires 3/21/11

       125          (20,562 )

VimpelCom Ltd. - ADR, Strike Price USD 15, Expires 2/21/11

       775          (11,625 )
               

Total Exchange-Traded Call Options Written

            (1,855,757 )
               

Over-the-Counter Call Options Written – (1.5)%

         

Adecco SA, Strike Price CHF 65.80, Expires 2/24/11, Broker Morgan Stanley & Co., Inc.

       53,800          (14,495 )

Aegis Group Plc, Strike Price GBP 1.42, Expires 2/16/11, Broker Barclays Capital, Inc.

       541,500          (16,710 )

Aegis Group Plc, Strike Price GBP 1.42, Expires 3/03/11, Broker Morgan Stanley & Co., Inc.

       650,000          (25,237 )

Aegon NV, Strike Price EUR 5.18, Expires 3/16/11, Broker Credit Suisse First Boston

       238,000          (97,237 )

AIA Group Ltd., Strike Price HKD 21.78, Expires 3/29/11, Broker Deutsche Bank Securities Corp.

       407,000          (28,806 )

AIA Group Ltd., Strike Price HKD 21.88, Expires 3/29/11, Broker JPMorgan Chase Securities

       970,000          (70,390 )

Allianz SE, Strike Price EUR 98.98, Expires 3/23/11, Broker Morgan Stanley & Co., Inc.

       23,400          (165,465 )

Anheuser-Busch InBev NV, Strike Price EUR 44.57, Expires 3/16/11, Broker Citigroup Global Markets, Inc.

       68,700          (8,338 )

Anheuser-Busch InBev NV, Strike Price EUR 43.06, Expires 3/16/11, Broker UBS Securities LLC

       19,200          (6,285 )

ArcelorMittal - NY Registry Shares, Strike Price USD 35.65, Expires 2/03/11, Broker UBS Securities LLC

       131,000          (123,795 )

 

         JANUARY 31, 2011   3


Schedule of Investments (continued)    BlackRock International Growth and Income Trust (BGY)
   (Percentages shown are based on Net Assets)

 

     Contracts    Value

Options Written

         

Over-the-Counter Call Options Written (continued)

         

AU Optronics Corp. - ADR, Strike Price USD 10.40, Expires 2/22/11, Broker Jefferies & Co., Inc.

       1,290        $ (6,677 )

AU Optronics Corp. - ADR, Strike Price USD 10.42, Expires 3/03/11, Broker Morgan Stanley & Co., Inc.

       142,000          (3,551 )

Australia & New Zealand Banking Group Ltd, Strike Price AUD 23.74, Expires 3/29/11, Broker Morgan Stanley & Co., Inc.

       201,500          (132,248 )

AXA SA, Strike Price EUR 15.29, Expires 3/23/11, Broker Morgan Stanley & Co., Inc.

       156,000          (185,055 )

Banco Bradesco SA, Preference Shares, Strike Price USD 31.23, Expires 4/04/11, Broker Morgan Stanley & Co., Inc.

       112,000          (98,381 )

Bank of Yokohama Ltd. (The), Strike Price JPY 427.17, Expires 2/23/11, Broker Deutsche Bank Securities Corp.

       226,000          (7,438 )

Barratt Development Plc, Strike Price GBP 0.91, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       488,000          (25,219 )

BASF SE, Strike Price EUR 59.05, Expires 3/03/11, Broker Credit Suisse First Boston

       48,500          (54,038 )

Bayer AG, Strike Price EUR 56, Expires 2/21/11, Broker Morgan Stanley & Co., Inc.

       150          (10,171 )

Bayer AG, Strike Price EUR 55.52, Expires 3/30/11, Broker Societe General Securities Corp.

       35,300          (59,738 )

Bayerische Motoren Werke AG, Strike Price EUR 58.84, Expires 3/23/11, Broker Societe General Securities Corp.

       40,600          (112,286 )

Bellway Plc, Strike Price GBP 6.94, Expires 3/09/11, Broker Credit Suisse First Boston

       35,000          (4,679 )

Bellway Plc, Strike Price GBP 6.94, Expires 3/16/11, Broker Credit Suisse First Boston

       35,000          (5,553 )

BM&FBovespa SA, Strike Price USD 13.56, Expires 3/01/11, Broker Credit Suisse First Boston

       53,500          (470 )

BM&FBovespa SA, Strike Price USD 11.88, Expires 4/04/11, Broker Goldman Sachs & Co.

       417,500          (148,254 )

BNP Paribas, Strike Price EUR 53.48, Expires 3/23/11, Broker Morgan Stanley & Co., Inc.

       43,400          (171,382 )

Bridgestone Corp., Strike Price JPY 1,613.32, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       197,600          (59,558 )

Britvic Plc, Strike Price GBP 4.79, Expires 2/08/11, Broker JPMorgan Chase Securities

       578,000          (2,348 )

Cairn Energy Plc, Strike Price GBP 4.54, Expires 3/03/11, Broker Citigroup Global Markets, Inc.

       340,000          (34,378 )

Canadian National Railway Co., Strike Price USD 67.22, Expires 2/11/11, Broker UBS Securities LLC

       25,000          (32,746 )

Canon, Inc., Strike Price JPY 4,109.17, Expires 3/29/11, Broker UBS Securities LLC

       65,500          (84,349 )

Cap Gemini Sa, Strike Price EUR 35.35, Expires 3/16/11, Broker Citigroup Global Markets, Inc.

       52,000          (144,793 )

CapitaLand Ltd., Strike Price SGD 3.94, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       568,000          (72 )

Carlsberg A/S, Class B, Strike Price DKK 544.29, Expires 3/16/11, Broker Credit Suisse First Boston

       29,100          (82,651 )

Carnival Plc, Strike Price GBP 30.30, Expires 3/30/11, Broker Societe General Securities Corp.

       71,000          (52,430 )

Chiba Bank Ltd. (The), Strike Price JPY 532.18, Expires 2/23/11, Broker Deutsche Bank Securities Corp.

       205,000          (10,393 )

Chiba Bank Ltd. (The), Strike Price JPY 529.31, Expires 3/29/11, Broker Deutsche Bank Securities Corp.

       325,000          (51,229 )

China Construction Bank Corp. - H Shares, Strike Price HKD 7.15, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       2,964,000          (23,740 )

China Merchants Bank Co. Ltd. - H Shares, Strike Price HKD 20.47, Expires 2/23/11, Broker Deutsche Bank Securities Corp.

       1,072,000          (5,152 )

China Merchants Holdings International Co. Ltd., Strike Price HKD 32.21, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       910,000          (291,134 )

China Mobile Ltd., Strike Price HKD 78.24, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       332,000          (28,993 )

China Resources Enterprise Ltd., Strike Price HKD 30.85, Expires 3/29/11, Broker Citigroup Global Markets, Inc.

       526,000          (78,366 )

China Unicom Hong Kong Ltd., Strike Price HKD 13.13, Expires 3/29/11, Broker Citigroup Global Markets, Inc.

       1,450,000          (93,712 )

Cie Financiere Richemont SA, Strike Price CHF 54.96, Expires 3/16/11, Broker Citigroup Global Markets, Inc.

       40,000          (28,806 )

CIMB Group Holdings Bhd, Strike Price USD 8.98, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       3,173,400          (14,978 )

Cookson Group Plc, Strike Price GBP 6.60, Expires 3/23/11, Broker Citigroup Global Markets, Inc.

       442,000          (309,916 )

Corio NV, Strike Price EUR 47.38, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       9,200          (8,255 )

Credit Suisse Group AG, Strike Price CHF 39.10, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       69,000          (223,681 )

Dena Co., Ltd., Strike Price JPY 3,024.01, Expires 3/29/11, Broker Deutsche Bank Securities Corp.

       72,700          (112,312 )

Deutsche Post AG, Strike Price EUR 13.42, Expires 3/16/11, Broker Barclays Capital, Inc.

       106,200          (48,158 )

Deutsche Post AG, Strike Price EUR 13.61, Expires 3/16/11, Broker Morgan Stanley & Co., Inc.

       177,500          (62,224 )

Deutsche Telekom AG, Strike Price EUR 9.71, Expires 3/16/11, Broker Citigroup Global Markets, Inc.

       239,600          (67,567 )

E.ON AG, Strike Price EUR 22.58, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       158,000          (407,555 )

ENI SpA, Strike Price EUR 17.92, Expires 3/16/11, Broker UBS Securities LLC

       400,000          (98,898 )

Erste Group Bank AG, Strike Price EUR 35.70, Expires 3/16/11, Broker Barclays Capital, Inc.

       41,100          (111,709 )

Fol Linhas Aereas Inteligentes S.a., Strike Price USD 26.64, Expires 3/01/11, Broker Credit Suisse First Boston

       47,000          (2,756 )

Fol Linhas Aereas Inteligentes S.a., Strike Price USD 24.09, Expires 4/04/11, Broker Credit Suisse First Boston

       254,800          (192,170 )

 

4        JANUARY 31, 2011    


Schedule of Investments (continued)    BlackRock International Growth and Income Trust (BGY)
   (Percentages shown are based on Net Assets)

 

     Contracts    Value

Options Written

         

Over-the-Counter Call Options Written (continued)

         

Fomento Economico Mexicano SAB de CV - ADR, Strike Price USD 57, Expires 2/08/11, Broker UBS Securities LLC

       28,000        $ (676 )

Fomento Economico Mexicano SAB de CV - ADR, Strike Price USD 55.56, Expires 2/28/11, Broker Barclays Capital, Inc.

       35,000          (11,944 )

Fresenius Medical Care AG & Co. KGaA, Strike Price EUR 44.72, Expires 2/08/11, Broker Credit Suisse First Boston

       63,200          (1,177 )

Fresenius Medical Care AG & Co. KGaA, Strike Price EUR 42.29, Expires 3/16/11, Broker Societe General Securities Corp.

       20,000          (36,117 )

GAM Holding AG, Strike Price CHF 16.32, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       32,900          (21,031 )

GAM Holding AG, Strike Price CHF 16.71, Expires 3/23/11, Broker UBS Securities LLC

       28,500          (21,443 )

GDF Suez, Strike Price EUR 29.68, Expires 3/23/11, Broker Morgan Stanley & Co., Inc.

       100,800          (81,049 )

GKN PLC, Strike Price GBP 2.33, Expires 3/09/11, Broker Credit Suisse First Boston

       425,000          (6,718 )

GKN PLC, Strike Price GBP 2.33, Expires 3/16/11, Broker Credit Suisse First Boston

       425,000          (9,307 )

GlaxoSmithKline Plc, Strike Price GBP 12.41, Expires 3/09/11, Broker Credit Suisse First Boston

       262,000          (9,879 )

Grupo Modelo SAB de CV, Series C, Strike Price MXN 73.78, Expires 2/08/11, Broker Credit Suisse First Boston

       187,000          (17,908 )

Grupo Modelo SAB de CV, Series C, Strike Price MXN 75.19, Expires 2/08/11, Broker Credit Suisse First Boston

       78,000          (2,593 )

Grupo Modelo SAB de CV, Series C, Strike Price MXN 75.52, Expires 4/04/11, Broker Credit Suisse First Boston

       78,000          (15,769 )

Hang Seng Bank Ltd., Strike Price HKD 133.24, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       90,600          (7,201 )

Hon Hai Precision Industry Co. Ltd., Strike Price USD 115.14, Expires 2/23/11, Broker Deutsche Bank Securities Corp.

       323,000          (110,014 )

Hon Hai Precision Industry Co. Ltd., Strike Price USD 124.74, Expires 3/29/11, Broker Deutsche Bank Securities Corp.

       528,000          (58,608 )

Honda Motor Co. Ltd., Strike Price JPY 3,292.60, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       153,700          (485,103 )

Hong Kong Exchanges and Clearing Ltd., Strike Price HKD 186.24, Expires 3/09/11, Broker UBS Securities LLC

       44,000          (16,922 )

Hong Kong Exchanges and Clearing Ltd., Strike Price HKD 180.61, Expires 3/29/11, Broker Citigroup Global Markets, Inc.

       94,000          (71,332 )

Hoya Corp., Strike Price JPY 1,962.03, Expires 3/29/11, Broker Morgan Stanley & Co., Inc.

       120,900          (65,458 )

HRT Participacoes em Petroleo SA, Strike Price USD 1,795.50, Expires 3/01/11, Broker Citigroup Global Markets, Inc.

       3,600          (221,942 )

HSBC Holdings Plc, Strike Price GBP 6.79, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       816,000          (119,011 )

Hypermarcas SA, Strike Price USD 26.01, Expires 2/08/11, Broker Credit Suisse First Boston

       231,900          (2 )

Hyundai Marine & Fire Insurance Co. Ltd., Strike Price USD 28,041.34, Expires 3/09/11, Broker Morgan Stanley & Co., Inc.

       140,300          (278,162 )

IHI Corp., Strike Price JPY 193.29, Expires 3/29/11, Broker UBS Securities LLC

       2,199,000          (130,785 )

Imperial Tobacco Group Plc, Strike Price GBP 19.15, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       218,000          (265 )

Inchcape Plc, Strike Price GBP 3.70, Expires 2/08/11, Broker Morgan Stanley & Co., Inc.

       565,000          (68,168 )

Infosys Technologies Ltd. - ADR, Strike Price USD 71.69, Expires 3/10/11, Broker Citigroup Global Markets, Inc.

       25,500          (16,529 )

ING Groep NV, Strike Price EUR 8.01, Expires 3/16/11, Broker UBS Securities LLC

       118,400          (84,051 )

ING Groep NV, Strike Price EUR 8.14, Expires 3/23/11, Broker UBS Securities LLC

       112,000          (70,593 )

International Consolidated Airlines Group, Strike Price GBP 2.71, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       1,113,000          (26,939 )

Intesa Sanpaolo SpA, Strike Price EUR 2.18, Expires 2/16/11, Broker JPMorgan Chase Securities

       230,500          (92,478 )

Intesa Sanpaolo SpA, Strike Price EUR 2.36, Expires 3/16/11, Broker UBS Securities LLC

       763,500          (166,476 )

ITOCHU Corp., Strike Price JPY 880.82, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       380,400          (135,282 )

Japan Tobacco, Inc., Strike Price JPY 310,898.20, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       330          (31,210 )

Japan Tobacco, Inc., Strike Price JPY 319,180.20, Expires 3/29/11, Broker Morgan Stanley & Co., Inc.

       870          (92,560 )

JGC Corp., Strike Price JPY 2,044.24, Expires 3/29/11, Broker Deutsche Bank Securities Corp.

       178,000          (138,602 )

JSR Corp., Strike Price JPY 1,659.03, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       136,800          (118,599 )

JSR Corp., Strike Price JPY 1,740.76, Expires 3/29/11, Broker UBS Securities LLC

       77,100          (54,754 )

Julius Baer Group Ltd., Strike Price CHF 41.81, Expires 3/16/11, Broker Morgan Stanley & Co., Inc.

       78,800          (182,056 )

K+S AG, Strike Price EUR 57.16, Expires 3/16/11, Broker Morgan Stanley & Co., Inc.

       59,000          (73,847 )

Kabel Deutschland Holding AG, Strike Price EUR 36.61, Expires 2/08/11, Broker Morgan Stanley & Co., Inc.

       21,000          (24,680 )

Kabel Deutschland Holding AG, Strike Price EUR 37.42, Expires 3/16/11, Broker UBS Securities LLC

       26,900          (43,990 )

Kabel Deutschland Holding AG, Strike Price EUR 35.80, Expires 3/30/11, Broker UBS Securities LLC

       25,000          (76,529 )

Kazakhmys Plc, Strike Price GBP 15.85, Expires 2/08/11, Broker Credit Suisse First Boston

       72,000          (11,775 )

Kazakhmys Plc, Strike Price GBP 16.57, Expires 2/24/11, Broker Credit Suisse First Boston

       162,000          (33,515 )

KDDI Corp., Strike Price JPY 476,828.07, Expires 3/29/11, Broker UBS Securities LLC

       355          (44,705 )

KGHM Polska Miedz SA, Strike Price PLN 187.86, Expires 3/23/11, Broker UBS Securities LLC

       34,200          (51,311 )

 

         JANUARY 31, 2011   5


Schedule of Investments (continued)    BlackRock International Growth and Income Trust (BGY)
   (Percentages shown are based on Net Assets)

 

     Contracts    Value

Options Written

         

Over-the-Counter Call Options Written (continued)

         

Kia Motors Corp., Strike Price USD 58,959.06, Expires 3/29/11, Broker Credit Suisse First Boston

       84,000        $ (125,358 )

Komatsu Ltd., Strike Price JPY 2,599.74, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       130,000          (32,614 )

Koninklijke DSM NV, Strike Price EUR 43.51, Expires 2/24/11, Broker Credit Suisse First Boston

       44,000          (42,245 )

Koninklijke KPN NV, Strike Price EUR 11.12, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       183,600          (95,008 )

KT Corp. - ADR, Strike Price USD 20.70, Expires 2/01/11, Broker Jefferies & Co., Inc.

       650          (1 )

KT Corp. - ADR, Strike Price USD 21.50, Expires 3/03/11, Broker Citigroup Global Markets, Inc.

       55,000          (1,344 )

Kubota Corp., Strike Price JPY 875.99, Expires 3/29/11, Broker UBS Securities LLC

       494,000          (95,694 )

Lukoil OAO - ADR, Strike Price USD 64.67, Expires 3/30/11, Broker Morgan Stanley & Co., Inc.

       31,000          (21,445 )

Manulife Financial Corp., Strike Price CAD 18, Expires 3/21/11, Broker T.D. Securities

       2,050          (88,031 )

Marubeni Corp., Strike Price JPY 610.65, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       582,000          (151,244 )

Matsui Securities Co. Ltd., Strike Price JPY 607.87, Expires 2/23/11, Broker Goldman Sachs & Co.

       162,500          (4,676 )

Mega Financial Holding Co. Ltd., Strike Price USD 22.21, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       4,296,000          (212,222 )

Melco Crown Entertainment Ltd. - ADR, Strike Price USD 7.63, Expires 2/28/11, Broker UBS Securities LLC

       198,500          (97,257 )

Merck KGaA, Strike Price EUR 61.51, Expires 3/23/11, Broker Societe General Securities Corp.

       36,800          (110,379 )

Metro AG, Strike Price EUR 54.16, Expires 3/23/11, Broker Morgan Stanley & Co., Inc.

       43,000          (50,620 )

Mitsubishi Chemical Holdings Corp., Strike Price JPY 587.52, Expires 3/09/11, Broker Deutsche Bank Securities Corp.

       374,500          (60,905 )

Mitsubishi UFJ Financial Group, Inc., Strike Price JPY 449.65, Expires 2/23/11, Broker Goldman Sachs & Co.

       614,000          (23,836 )

MTN Group Ltd., Strike Price ZAR 130.09, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       159,000          (5,964 )

Naspers Ltd., Strike Price ZAR 393.75, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       47,000          (10,818 )

National Grid Plc, Strike Price GBP 5.50, Expires 2/08/11, Broker JPMorgan Chase Securities

       480,000          (61,925 )

Nestle SA, Strike Price CHF 55.80, Expires 2/08/11, Broker Credit Suisse First Boston

       92,000          (29 )

Nestle SA, Strike Price CHF 53.53, Expires 3/23/11, Broker Societe General Securities Corp.

       42,700          (16,925 )

New World Development Ltd., Strike Price HKD 15.95, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       1,232,000          (20,444 )

Niko Resources Ltd., Strike Price CAD 100, Expires 2/21/11, Broker Bank Of Montreal

       260          (37,000 )

Nikon Corp., Strike Price JPY 1,995.23, Expires 3/29/11, Broker Deutsche Bank Securities Corp.

       99,500          (52,450 )

Nomura Holdings, Inc., Strike Price JPY 534.19, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       172,400          (13,423 )

Nordea Bank AB, Strike Price SEK 75.20, Expires 3/16/11, Broker Barclays Capital, Inc.

       154,500          (101,998 )

Novartis AG, Strike Price CHF 55.30, Expires 3/23/11, Broker Citigroup Global Markets, Inc.

       91,300          (37,604 )

NSK Ltd., Strike Price JPY 806.98, Expires 3/29/11, Broker UBS Securities LLC

       848,000          (274,218 )

NTT Data Corp., Strike Price JPY 290,173, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       150          (2,166 )

NTT Data Corp., Strike Price JPY 276,162.04, Expires 3/29/11, Broker Deutsche Bank Securities Corp.

       745          (58,047 )

OZ Minerals Ltd., Strike Price AUD 1.72, Expires 2/23/11, Broker Citigroup Global Markets, Inc.

       2,055,900          (55,498 )

Pacific Rubiales Energy Corp., Strike Price CAD 34, Expires 2/22/11, Broker Bank Of Montreal

       260          (33,754 )

Pacific Rubiales Energy Corp., Strike Price CAD 34, Expires 3/21/11, Broker T.D. Securities

       1,465          (303,578 )

Pandora A/S, Strike Price DKK 373.32, Expires 2/24/11, Broker Morgan Stanley & Co., Inc.

       41,600          (28,875 )

Pandora A/S, Strike Price DKK 356.23, Expires 3/30/11, Broker Morgan Stanley & Co., Inc.

       10,000          (28,365 )

Parmalat Spa, Strike Price EUR 1.99, Expires 2/08/11, Broker JPMorgan Chase Securities

       822,000          (364,531 )

PartyGaming Plc, Strike Price GBP 2.58, Expires 2/08/11, Broker JPMorgan Chase Securities

       102,000          (2 )

PartyGaming Plc, Strike Price GBP 2.30, Expires 2/16/11, Broker Morgan Stanley & Co., Inc.

       207,500          (1,006 )

PartyGaming Plc, Strike Price GBP 2.14, Expires 3/03/11, Broker Citigroup Global Markets, Inc.

       207,500          (8,371 )

PDG Realty SA Empreendimentos e Participacoes, Strike Price USD 9.24, Expires 4/04/11, Broker Credit Suisse First Boston

       334,500          (117,844 )

Persimmon Plc, Strike Price GBP 4.20, Expires 2/16/11, Broker Citigroup Global Markets, Inc.

       100,000          (11,232 )

Petrominerales Ltd., Strike Price CAD 34, Expires 2/19/11, Broker T.D. Securities

       500          (257,153 )

Petrominerales Ltd., Strike Price CAD 36.35, Expires 3/04/11, Broker Morgan Stanley & Co., Inc.

       64,000          (199,248 )

Randstad Holding NV, Strike Price EUR 40.20, Expires 2/24/11, Broker Barclays Capital, Inc.

       61,300          (73,446 )

Randstad Holding NV, Strike Price EUR 40.63, Expires 3/16/11, Broker Morgan Stanley & Co., Inc.

       34,000          (44,174 )

Roche Holding AG, Strike Price CHF 142.48, Expires 3/23/11, Broker Societe General Securities Corp.

       15,200          (61,357 )

Rosneft Oil Co. - GDR, Strike Price USD 8.77, Expires 3/16/11, Broker Morgan Stanley & Co., Inc.

       235,000          (60,856 )

Royal Bank of Canada, Strike Price CAD 54, Expires 2/21/11, Broker T.D. Securities

       535          (29,118 )

Royal Bank Of Scotland Group Plc, Strike Price GBP 0.42, Expires 2/08/11, Broker Morgan Stanley & Co., Inc.

       3,218,000          (57,249 )

 

6        JANUARY 31, 2011    


Schedule of Investments (continued)    BlackRock International Growth and Income Trust (BGY)
   (Percentages shown are based on Net Assets)

 

     Contracts    Value

Options Written

         

Over-the-Counter Call Options Written (continued)

         

Royal Dutch Shell Plc, Class A - ADR, Strike Price USD 65, Expires 2/07/11, Broker Morgan Stanley & Co., Inc.

       74,000        $ (443,260 )

Royal Dutch Shell Plc, Class A - ADR, Strike Price USD 65, Expires 2/14/11, Broker Morgan Stanley & Co., Inc.

       74,000          (443,260 )

Royal Dutch Shell Plc, Class A - ADR, Strike Price USD 67, Expires 2/24/11, Broker UBS Securities LLC

       60,000          (241,630 )

RWE AG, Strike Price EUR 53.65, Expires 3/23/11, Broker Barclays Capital, Inc.

       94,000          (117,874 )

Samsung Electronics Co. Ltd., Strike Price USD 1,011,010, Expires 3/29/11, Broker Credit Suisse First Boston

       4,500          (113,135 )

Samsung Securities Co. Ltd., Strike Price USD 90,278.16, Expires 3/29/11, Broker Credit Suisse First Boston

       27,500          (116,329 )

Sekisui Chemical Co. Ltd., Strike Price JPY 627.21, Expires 3/29/11, Broker Deutsche Bank Securities Corp.

       347,000          (118,168 )

Siemens AG, Strike Price EUR 93.37, Expires 3/16/11, Broker Morgan Stanley & Co., Inc.

       31,900          (132,324 )

Siemens AG, Strike Price EUR 96, Expires 3/21/11, Broker UBS Securities LLC

       200          (59,147 )

Siliconware Precision Industries Co. - ADR, Strike Price USD 6.96, Expires 3/16/11, Broker Morgan Stanley & Co., Inc.

       115,000          (35,765 )

Siliconware Precision Industries Co. - ADR, Strike Price USD 6.57, Expires 3/25/11, Broker Citigroup Global Markets, Inc.

       102,000          (57,732 )

Siliconware Precision Industries Co. - ADR, Strike Price USD 6.57, Expires 3/31/11, Broker Citigroup Global Markets, Inc.

       102,000          (59,466 )

Siliconware Precision Industries Co. - ADR, Strike Price USD 6.69, Expires 4/08/11, Broker Citigroup Global Markets, Inc.

       169,000          (92,061 )

Singapore Telecommunications Ltd., Strike Price SGD 3.10, Expires 2/23/11, Broker Deutsche Bank Securities Corp.

       1,291,500          (51,945 )

SMC Corp., Strike Price JPY 14,728.80, Expires 2/23/11, Broker Goldman Sachs & Co.

       23,000          (48,394 )

Societe Generale, Strike Price EUR 39.85, Expires 2/08/11, Broker Credit Suisse First Boston

       10,800          (108,620 )

Software AG, Strike Price EUR 106.05, Expires 3/23/11, Broker Morgan Stanley & Co., Inc.

       11,900          (188,073 )

Straits Asia Resources Ltd., Strike Price SGD 2.76, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       1,314,000          (54,683 )

Sumitomo Heavy Industries Ltd., Strike Price JPY 547.22, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       559,000          (54,923 )

Sumitomo Heavy Industries Ltd., Strike Price JPY 529.95, Expires 3/29/11, Broker UBS Securities LLC

       318,000          (82,134 )

Sumitomo Mitsui Financial Group, Inc., Strike Price JPY 2,905.35, Expires 3/29/11, Broker UBS Securities LLC

       88,200          (64,503 )

Sun Life Financial, Inc., Strike Price CAD 30.67, Expires 2/11/11, Broker UBS Securities LLC

       109,000          (101,216 )

Swiss Reinsurance Co. Ltd., Strike Price CHF 54.94, Expires 3/16/11, Broker Barclays Capital, Inc.

       45,400          (66,349 )

Swiss Reinsurance Co. Ltd., Strike Price CHF 53.33, Expires 3/16/11, Broker UBS Securities LLC

       11,900          (26,949 )

Taiwan Semiconductor Manufacturing Co. Ltd. - ADR, Strike Price USD 11, Expires 2/02/11, Broker JPMorgan Chase Securities

       255,000          (527,850 )

Taiwan Semiconductor Manufacturing Co. Ltd. - ADR, Strike Price USD 13, Expires 2/22/11, Broker Jefferies & Co., Inc.

       700          (15,536 )

Taylor Wimpey Plc, Strike Price GBP 0.39, Expires 3/16/11, Broker Societe General Securities Corp.

       1,428,000          (22,120 )

Technip SA, Strike Price EUR 68.61, Expires 2/24/11, Broker Citigroup Global Markets, Inc.

       30,000          (152,063 )

Technip SA, Strike Price EUR 74.35, Expires 3/16/11, Broker Barclays Capital, Inc.

       16,400          (36,364 )

Teijin Ltd., Strike Price JPY 381.48, Expires 3/09/11, Broker UBS Securities LLC

       579,000          (167,181 )

Telefonica SA, Strike Price EUR 17.12, Expires 2/24/11, Broker Citigroup Global Markets, Inc.

       262,000          (420,188 )

Telefonica SA, Strike Price EUR 18.68, Expires 3/30/11, Broker Morgan Stanley & Co., Inc.

       25,200          (8,505 )

Tencent Holdings Ltd., Strike Price HKD 181.57, Expires 2/23/11, Broker Morgan Stanley & Co., Inc.

       136,600          (392,318 )

Tokio Marine Holdings, Inc., Strike Price JPY 2,530.68, Expires 3/29/11, Broker UBS Securities LLC

       94,000          (53,325 )

Toronto-Dominion Bank (The), Strike Price CAD 76, Expires 2/21/11, Broker T.D. Securities

       407          (21,339 )

TrygVesta A/S, Strike Price DKK 252.50, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       18,000          (143,424 )

TrygVesta A/S, Strike Price DKK 252.50, Expires 2/16/11, Broker Citigroup Global Markets, Inc.

       18,000          (143,077 )

Tullow Oil Plc, Strike Price GBP 13.94, Expires 3/03/11, Broker Barclays Capital, Inc.

       74,500          (24,021 )

Tullow Oil Plc, Strike Price GBP 14.02, Expires 3/16/11, Broker Societe General Securities Corp.

       107,600          (43,126 )

UBS AG, Strike Price CHF 15.93, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       122,600          (135,139 )

Unibail-Rodamco SE, Strike Price EUR 145.08, Expires 3/16/11, Broker Barclays Capital, Inc.

       18,600          (39,237 )

VimpelCom Ltd. - ADR, Strike Price USD 15.83, Expires 2/02/11, Broker Morgan Stanley & Co., Inc.

       77,500          (1 )

Viterra, Inc., Strike Price CAD 9.57, Expires 2/03/11, Broker Goldman Sachs & Co.

       108,500          (230,799 )

Viterra, Inc., Strike Price CAD 120, Expires 3/15/11, Broker UBS Securities LLC

       81,500          (31,742 )

Vodafone Group Plc - ADR, Strike Price USD 26.78, Expires 2/03/11, Broker Citigroup Global Markets, Inc.

       206,500          (326,476 )

Voestalpine AG, Strike Price EUR 35.67, Expires 2/08/11, Broker Citigroup Global Markets, Inc.

       113,600          (2,400 )

Volkswagen AG, Preference Shares, Strike Price EUR 123.02, Expires 3/23/11, Broker UBS Securities LLC

       25,400          (178,221 )

WPP Plc, Strike Price GBP 7.83, Expires 3/03/11, Broker Morgan Stanley & Co., Inc.

       249,500          (65,530 )

 

         JANUARY 31, 2011   7


Schedule of Investments (continued)    BlackRock International Growth and Income Trust (BGY)
   (Percentages shown are based on Net Assets)

 

     Contracts    Value

Options Written

         

Over-the-Counter Call Options Written (continued)

         

WPP Plc, Strike Price GBP 8.18, Expires 3/16/11, Broker Banc of America Securities

       299,000        $ (40,757 )

Xstrata Plc, Strike Price GBP 15.22, Expires 2/24/11, Broker UBS Securities LLC

       93,000          (17,303 )

Xstrata Plc, Strike Price GBP 15.50, Expires 3/09/11, Broker Credit Suisse First Boston

       74,000          (19,824 )

Xstrata Plc, Strike Price GBP 14.49, Expires 3/16/11, Broker Credit Suisse First Boston

       165,000          (123,376 )

Yara International ASA, Strike Price NOK 343.95, Expires 2/24/11, Broker Credit Suisse First Boston

       55,600          (37,823 )
               

Total Over-the-Counter Call Options Written

            (17,724,544 )
               

Total Options Written
(Premiums Received – $20,415,247) – (1.7)%

            (19,580,301 )
               

Total Investments Net of Outstanding Options Written – 98.3%

            1,137,968,885  

Other Assets in Excess of Liabilities – 1.7%

            20,086,514  
               

Net Assets – 100.0%

          $ 1,158,055,399  
               

 

* The cost and unrealized appreciation (depreciation) of investments as of January 31, 2011 as computed for federal income tax purposes, were as follows:

 

Aggregate cost

     $ 1,103,640,672  
          

Gross unrealized appreciation

     $ 74,304,320  

Gross unrealized depreciation

       (20,395,806 )
          

Net unrealized appreciation

     $ 53,908,514  
          

 

(a) Security, or a portion thereof, pledged/held as collateral for outstanding options written.

 

(b) Non-income producing security.

 

(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration to qualified institutional investors.

 

(d) 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
January 31,
2011
   Income

BlackRock Liquidity Funds, TempFund, Institutional Class

       57,450,039          5,410,966          62,861,005        $ 18,838  

 

(e) Represents the current yield as of report date.

 

 

Foreign currency exchange contracts as of January 31, 2011 were as follows:

 

Currency

Purchased

    

Currency

Sold

    

Counterparty

  

Settlement
Date

   Unrealized
Appreciation
(Depreciation)
 

CAD

     192,000       USD      192,516      

Citigroup Global Markets

   2/02/11    $ (775

CAD

     852,000       USD      850,699      

Morgan Stanley

   2/03/11      104   

DKK

     1,328,000       USD      244,681      

Citigroup Global Markets

   2/01/11      (765

DKK

     1,416,000       USD      258,863      

Citigroup Global Markets

   2/02/11      1,216   

DKK

     1,430,000       USD      262,600      

Deutsche Bank Securities

   2/02/11      50   

HKD

     1,625,000       USD      208,421      

Morgan Stanley

   2/02/11      1   

CHF

     3,028,000       USD      3,197,324      

Deutsche Bank Securities

   2/01/11      10,303   

CHF

     790,000       USD      835,940      

Morgan Stanley

   2/01/11      926   

USD

     1,043,235       CAD      1,038,000      

Citigroup Global Markets

   2/01/11      6,634   

USD

     117,448       AUD      118,000      

Citigroup Global Markets

   2/02/11      (145

USD

     1,373,185       HKD      10,701,000      

Morgan Stanley

   2/01/11      673   

USD

     139       ZAR      1,000      

UBS Securities LLC

   2/03/11        

USD

     208,424       HKD      1,625,000      

Deutsche Bank Securities

   2/02/11      1   

USD

     2,101,758       JPY      172,783,000      

Citigroup Global Markets

   2/02/11      (3,298

USD

     2,809,643       GBP      1,764,000      

Citigroup Global Markets

   2/01/11      (16,012

USD

     407,823       MXN      4,942,000      

Morgan Stanley

   2/01/11      437   

USD

     453,706       MXN      5,515,000      

Citigroup Global Markets

   2/02/11      (914

USD

     94,596       EUR      69,000      

Deutsche Bank Securities

   2/02/11      124   
                       

Total

                  $ (1,440
                       

 

 

For Trust compliance purposes, the Trust’s 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. This definition 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 derivatives, which are 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 market-corroborated inputs)

 

   

Level 3 – unobservable inputs based on the best information available In the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments and derivatives)

 

8        JANUARY 31, 2011    


Schedule of Investments (concluded)    BlackRock International Growth and Income Trust (BGY)
  

 

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 derivatives and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its annual report.

The following tables summarize the inputs used as of January 31, 2011 in determining the fair valuation of the Trust’s investments and derivatives:

 

Valuation Inputs

   Level 1    Level 2    Level 3    Total

Assets:

                   

Investments in Securities:

                   

Long Term Investments:

                   

Common Stocks:

                   

Australia

              $ 14,794,735                 $ 14,794,735  

Austria

                10,914,757                   10,914,757  

Belgium

                8,817,310                   8,817,310  

Brazil

     $ 35,267,558                            35,267,558  

Canada

       95,538,624                            95,538,624  

China

       2,270,793          17,658,043                   19,928,836  

Columbia

       7,547,954                            7,547,954  

Denmark

       5,980,485          7,633,143                   13,613,628  

France

                38,070,572                   38,070,572  

Germany

       25,217,738          94,666,441                   119,884,179  

Gibraltar

                2,863,801                   2,863,801  

Hong Kong

       10,181,723          39,518,524                   49,700,247  

India

       3,148,515          2,141,535                   5,290,050  

Indonesia

                4,992,240                   4,992,240  

Ireland

       8,255,033          11,177,159                   19,432,192  

Israel

       1,011,025                            1,011,025  

Italy

                27,873,547                   27,873,547  

Japan

                186,761,808                   186,761,808  

Luxembourg

       10,076,178                            10,076,178  

Malaysia

       3,985,121          11,624,622                   15,609,743  

Mexico

       11,160,780                            11,160,780  

Netherlands

       28,879,013          28,491,520                   57,370,533  

Norway

                5,692,753                   5,692,753  

Poland

                3,646,278                   3,646,278  

Russia

       4,300,691          3,486,880                   7,787,571  

Singapore

                13,532,917                   13,532,917  

South Africa

                9,382,012                   9,382,012  

South Korea

       5,510,400          25,247,408                   30,757,808  

Spain

                13,073,533                   13,073,533  

Sweden

                3,407,067                   3,407,067  

Switzerland

       1,945,551          68,686,225                   70,631,776  

Taiwan

       17,949,893          19,544,587                   37,494,480  

Thailand

                12,135,829                   12,135,829  

United Kingdom

       23,045,927          102,533,937                   125,579,864  

United States

       5,045,996                            5,045,996  

Short-Term Securities

       62,861,005                            62,861,005  
                                           

Total

     $ 369,180,003        $ 788,369,183                 $ 1,157,549,186  
                                           

 

     Derivative Financial Instruments1

Valuation Inputs

   Level 1   Level 2   Level 3    Total

Assets:

                 

Foreign currency exchange contracts

     $ 126       $ 20,343                $ 20,469  

Liabilities:

                 

Equity contracts

       (2,684,878 )       (16,895,423 )                (19,580,301 )

Foreign currency exchange contracts

       (1,689 )       (20,220 )                (21,909 )
                                         

Total

     $ (2,686,441 )     $ (16,895,300 )              $ (19,581,741 )
                                         

 

1

Derivative financial instruments are foreign currency exchange contracts and options. Foreign currency exchange contracts are valued at the unrealized appreciation/ depreciation on the instrument and options are shown at value.

 

         JANUARY 31, 2011   9


Item 2       Controls and Procedures
2(a)       The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
2(b)       There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3       Exhibits

Certifications – Attached hereto


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

 

BlackRock International Growth and Income Trust    
By:  

/s/ John M. Perlowski

   
  John M. Perlowski    
  Chief Executive Officer (principal executive officer) of BlackRock International Growth and Income Trust

Date: March 25, 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 International Growth and Income Trust

 

Date: March 25, 2011    
By:  

/s/ Neal J. Andrews

   
  Neal J. Andrews    
  Chief Financial Officer (principal financial officer) of BlackRock International Growth and Income Trust

Date: March 25, 2011