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 811-21702
Name of Fund: BlackRock Health Sciences Trust (BME)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Health Sciences Trust, 55 East 52nd Street, New York, NY 10055.
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 10/31/2010
Date of reporting period: 07/31/2010
Item 1 Schedule of Investments
|
|
|
|
Schedule of Investments July 31, 2010 (Unaudited) |
BlackRock Health Sciences Trust (BME) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
Common Stocks |
|
Shares |
|
Value |
|
||
|
|
|
|
|
|
||
Biotechnology12.0% |
|
|
|
|
|
|
|
3SBio, Inc. - ADR (a) |
|
|
35,200 |
|
$ |
529,760 |
|
Alexion Pharmaceuticals, Inc. (a) |
|
|
10,400 |
|
|
565,344 |
|
Amgen, Inc. (a) |
|
|
53,100 |
|
|
2,895,543 |
|
Arqule, Inc. (a) |
|
|
11,800 |
|
|
50,386 |
|
BioMarin Pharmaceutical, Inc. (a) |
|
|
128,000 |
|
|
2,796,800 |
|
Celgene Corp. (a) |
|
|
134,400 |
|
|
7,412,160 |
|
Gilead Sciences, Inc. (a) |
|
|
161,460 |
|
|
5,379,847 |
|
Human Genome Sciences, Inc. (a) |
|
|
77,600 |
|
|
2,012,944 |
|
Incyte Corp. Ltd. (a) |
|
|
52,500 |
|
|
683,550 |
|
Ironwood Pharmaceuticals, Inc. (a) |
|
|
35,500 |
|
|
418,900 |
|
Pharmasset, Inc. (a) |
|
|
5,200 |
|
|
140,452 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,885,686 |
|
|
|
|
|
|
|
|
|
Chemicals0.6% |
|
|
|
|
|
|
|
Sigma-Aldrich Corp. |
|
|
19,400 |
|
|
1,088,340 |
|
|
|
|
|
|
|
|
|
Food Products0.2% |
|
|
|
|
|
|
|
Synutra International, Inc. (a) |
|
|
18,600 |
|
|
313,596 |
|
|
|
|
|
|
|
|
|
Health Care Equipment & Supplies13.3% |
|
|
|
|
|
|
|
Alcon, Inc. |
|
|
15,300 |
|
|
2,372,724 |
|
Alere, Inc. (a) |
|
|
68,700 |
|
|
1,932,531 |
|
Becton Dickinson & Co. |
|
|
14,000 |
|
|
963,200 |
|
China Medical Technologies, Inc. - ADR |
|
|
28,000 |
|
|
287,000 |
|
Cooper Cos., Inc. (The) |
|
|
36,300 |
|
|
1,410,618 |
|
Coviden Plc |
|
|
17,300 |
|
|
645,636 |
|
DENTSPLY International, Inc. |
|
|
13,900 |
|
|
417,278 |
|
Gen-Probe, Inc. (a) |
|
|
65,100 |
|
|
2,927,547 |
|
Henry Schein, Inc. (a) |
|
|
53,800 |
|
|
2,823,962 |
|
Hill-Rom Holdings, Inc. |
|
|
78,300 |
|
|
2,587,032 |
|
Hologic, Inc. (a) |
|
|
29,000 |
|
|
410,060 |
|
Medtronic, Inc. |
|
|
28,790 |
|
|
1,064,366 |
|
Nobel Biocare Holding AG |
|
|
27,300 |
|
|
459,951 |
|
Sirona Dental Systems, Inc. (a) |
|
|
52,000 |
|
|
1,600,560 |
|
Sonova Holding AG |
|
|
6,200 |
|
|
752,359 |
|
Trauson Holdings Co. (a) |
|
|
128,000 |
|
|
59,819 |
|
Varian Medical Systems, Inc. (a) |
|
|
32,400 |
|
|
1,788,480 |
|
Zimmer Holdings, Inc. (a) |
|
|
57,100 |
|
|
3,025,729 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,528,852 |
|
|
|
|
|
|
|
|
|
Health Care Providers & Services29.4% |
|
|
|
|
|
|
|
Aetna, Inc. |
|
|
224,100 |
|
|
6,241,185 |
|
AmerisourceBergen Corp. |
|
|
144,200 |
|
|
4,321,674 |
|
CIGNA Corp. |
|
|
92,200 |
|
|
2,836,072 |
|
Community Health Systems, Inc. (a) |
|
|
88,400 |
|
|
2,866,812 |
|
DaVita, Inc. (a) |
|
|
92,800 |
|
|
5,319,296 |
|
Express Scripts, Inc. (a) |
|
|
90,260 |
|
|
4,077,947 |
|
Fresenius Medical Care AG & Co. KGaA |
|
|
109,500 |
|
|
6,006,084 |
|
McKesson Corp. |
|
|
44,700 |
|
|
2,808,054 |
|
Medco Health Solutions, Inc. (a) |
|
|
49,610 |
|
|
2,381,280 |
|
Mednax, Inc. (a) |
|
|
19,400 |
|
|
914,710 |
|
Patterson Cos., Inc. |
|
|
119,800 |
|
|
3,196,264 |
|
Tenet Healthcare Corp. (a) |
|
|
363,300 |
|
|
1,671,180 |
|
UnitedHealth Group, Inc. |
|
|
255,500 |
|
|
7,779,975 |
|
WellPoint, Inc. (a) |
|
|
113,200 |
|
|
5,741,504 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
56,162,037 |
|
|
|
|
|
|
|
|
|
Health Care Technology7.4% |
|
|
|
|
|
|
|
Allscripts-Misys Healthcare Solutions, |
|
|
103,000 |
|
|
1,719,070 |
|
Biogen Idec, Inc. (a) |
|
|
73,500 |
|
|
4,107,180 |
|
Genzyme Corp. (a) |
|
|
30,500 |
|
|
2,121,580 |
|
Quest Diagnostics, Inc. |
|
|
14,600 |
|
|
686,054 |
|
St. Jude Medical, Inc. (a) |
|
|
151,200 |
|
|
5,559,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,193,508 |
|
|
|
|
|
|
|
|
|
Life Sciences Tools & Services7.0% |
|
|
|
|
|
|
|
Dionex Corp. (a)(b) |
|
|
34,900 |
|
|
2,634,950 |
|
Life Technologies Corp. (a) |
|
|
48,300 |
|
|
2,076,417 |
|
Mettler-Toledo International, Inc. (a) |
|
|
30,900 |
|
|
3,609,120 |
|
Tecan Group AG |
|
|
22,100 |
|
|
1,389,167 |
|
|
|
|
|
|
|
|
|
Common Stocks |
|
Shares |
|
Value |
|
||
|
|
|
|
|
|
||
Life Sciences Tools & Services(concluded) |
|
|
|
|
|
|
|
Thermo Fisher Scientific, Inc. (a) |
|
|
84,000 |
|
$ |
3,768,240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,477,894 |
|
|
|
|
|
|
|
|
|
Pharmaceuticals22.3% |
|
|
|
|
|
|
|
Abbott Laboratories |
|
|
108,100 |
|
|
5,305,548 |
|
Allergan, Inc. |
|
|
30,700 |
|
|
1,874,542 |
|
Bristol-Myers Squibb Co. (b) |
|
|
347,100 |
|
|
8,649,732 |
|
Eli Lilly & Co. |
|
|
30,900 |
|
|
1,100,040 |
|
GlaxoSmithKline Plc |
|
|
94,000 |
|
|
1,641,201 |
|
Johnson & Johnson |
|
|
28,670 |
|
|
1,665,440 |
|
Merck & Co., Inc. |
|
|
77,400 |
|
|
2,667,204 |
|
Novartis AG, Registered Shares |
|
|
75,200 |
|
|
3,655,710 |
|
Pfizer, Inc. |
|
|
810,100 |
|
|
12,151,500 |
|
Simcere Pharmaceutical Group - ADR (a) |
|
|
19,300 |
|
|
174,665 |
|
Teva Pharmaceutical Industries Ltd. - |
|
|
13,050 |
|
|
637,493 |
|
Watson Pharmaceuticals, Inc. (a) |
|
|
79,000 |
|
|
3,199,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
42,722,575 |
|
|
|
|
|
|
|
|
|
Total Long-Term
Investments |
|
|
|
|
|
176,372,488 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Short-Term Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds, TempFund, |
|
|
20,701,114 |
|
|
20,701,114 |
|
|
|
|
|
|
|
|
|
Total Short-Term
Securities |
|
|
|
|
|
20,701,114 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Purchased |
|
Contracts |
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange-Traded Call Options Purchased0.0% |
|
|
|
|
|
|
|
Thoratec Corp., Strike Price USD 44, |
|
|
9 |
|
|
90 |
|
Thoratec Corp., Strike Price USD 45, |
|
|
91 |
|
|
910 |
|
|
|
|
|
|
|
|
|
Total Options
Purchased |
|
|
|
|
|
1,000 |
|
|
|
|
|
|
|
|
|
Total
investments before outstanding options written |
|
|
|
|
|
197,074,602 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Written |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange-Traded Call Options Written(0.7)% |
|
|
|
|
|
|
|
3SBio, Inc. - ADR, Strike Price USD 15, |
|
|
100 |
|
|
(9,500 |
) |
Abbott Laboratories, Strike Price USD |
|
|
325 |
|
|
(28,600 |
) |
Abbott Laboratories, Strike Price USD |
|
|
100 |
|
|
(6,850 |
) |
Aetna, Inc., Strike Price USD 28, |
|
|
220 |
|
|
(15,180 |
) |
Aetna, Inc., Strike Price USD 29, |
|
|
370 |
|
|
(11,100 |
) |
Aetna, Inc., Strike Price USD 31, |
|
|
150 |
|
|
(525 |
) |
Alcon, Inc., Strike Price USD 155, |
|
|
40 |
|
|
(15,300 |
) |
Alcon, Inc., Strike Price USD 160, |
|
|
10 |
|
|
(5,650 |
) |
Alexion Pharmaceuticals, Inc., Strike |
|
|
50 |
|
|
(12,375 |
) |
Allergan, Inc., Strike Price USD 65, |
|
|
100 |
|
|
(11,000 |
) |
Allscripts-Misys Healthcare Solutions, |
|
|
250 |
|
|
(11,250 |
) |
AmerisourceBergen Corp., Strike Price |
|
|
685 |
|
|
(51,375 |
) |
|
|
|
|
1 |
|
JULY 31, 2010 |
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Health Sciences Trust (BME) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
Options Written |
|
Contracts |
|
Value |
|
||
|
|
|
|
|
|
||
Exchange-Traded Call Options Written(continued) |
|
|
|
|
|
|
|
Amgen, Inc.,
Strike Price USD 55, |
|
|
75 |
|
$ |
(7,350 |
) |
Amgen,
Inc., Strike Price USD 60, |
|
|
100 |
|
|
(400 |
) |
Biogen
Idec, Inc., Strike Price USD 55, |
|
|
240 |
|
|
(80,400 |
) |
Biogen
Idec, Inc., Strike Price USD 60, |
|
|
100 |
|
|
(13,000 |
) |
BioMarin
Pharmaceuticals, Inc., Strike |
|
|
100 |
|
|
(21,500 |
) |
BioMarin
Pharmaceuticals, Inc., Strike |
|
|
200 |
|
|
(13,500 |
) |
BioMarin
Pharmaceuticals, Inc., Strike |
|
|
100 |
|
|
(9,750 |
) |
Bristol-Myers
Squibb Co., Strike Price |
|
|
100 |
|
|
(4,450 |
) |
Bristol-Myers
Squibb Co., Strike Price |
|
|
335 |
|
|
(3,350 |
) |
Bristol-Myers
Squibb Co., Strike Price |
|
|
590 |
|
|
(21,240 |
) |
Celgene
Corp., Strike Price USD 52.50, |
|
|
150 |
|
|
(49,125 |
) |
Celgene
Corp., Strike Price USD 57.50, |
|
|
230 |
|
|
(14,490 |
) |
Celgene
Corp., Strike Price USD 57.50, |
|
|
100 |
|
|
(13,900 |
) |
China
Medical Technologies, Inc. - ADR, |
|
|
280 |
|
|
(7,000 |
) |
Cigna
Corp., Strike Price USD 32, Expires |
|
|
305 |
|
|
(16,775 |
) |
Community
Health Systems, Inc., Strike |
|
|
160 |
|
|
(11,200 |
) |
Cooper
Cos., Inc. (The), Strike Price USD |
|
|
100 |
|
|
(12,250 |
) |
Coviden
Ltd., Strike Price USD 37.50, |
|
|
93 |
|
|
(7,905 |
) |
DaVita,
Inc., Strike Price USD 62.50, |
|
|
230 |
|
|
(10,106 |
) |
Eli Lilly
& Co., Strike Price USD 35, |
|
|
65 |
|
|
(5,362 |
) |
Eli Lilly
& Co., Strike Price USD 36, |
|
|
25 |
|
|
(1,325 |
) |
Express
Scripts, Inc., Strike Price USD |
|
|
210 |
|
|
(30,450 |
) |
Express
Scripts, Inc., Strike Price USD |
|
|
220 |
|
|
(2,200 |
) |
Express
Scripts, Inc., Strike Price USD |
|
|
100 |
|
|
(500 |
) |
Express
Scripts, Inc., Strike Price USD |
|
|
100 |
|
|
(2,000 |
) |
Gen-Probe,
Inc., Strike Price USD 50, |
|
|
165 |
|
|
(1,650 |
) |
Genzyme
Corp., Strike Price USD 52.50, |
|
|
200 |
|
|
(342,000 |
) |
Genzyme
Corp., Strike Price USD 55, |
|
|
76 |
|
|
(111,340 |
) |
Gilead
Sciences, Inc., Strike Price USD |
|
|
480 |
|
|
(43,200 |
) |
Gilead
Sciences, Inc., Strike Price USD |
|
|
100 |
|
|
(12,500 |
) |
Henry
Schein, Inc., Strike Price USD 55, |
|
|
135 |
|
|
(10,800 |
) |
Hill-Rom
Holdings, Inc., Strike Price USD |
|
|
100 |
|
|
(25,000 |
) |
Hill-Rom
Holdings, Inc., Strike Price USD |
|
|
160 |
|
|
(21,105 |
) |
Hologic,
Inc., Strike Price USD 16, |
|
|
170 |
|
|
(5,100 |
) |
|
|
|
|
|
|
|
|
Options Written |
|
|
Contracts |
|
|
Value |
|
|
|
|
|
|
|
|
|
Exchange-Traded Call Options Written(continued) |
|
|
|
|
|
|
|
Human Genom
Science, Inc., Strike Price |
|
|
235 |
|
$ |
(39,245 |
) |
Incyte
Corp. Ltd., Strike Price USD 15, |
|
|
300 |
|
|
(2,250 |
) |
Incyte
Corp. Ltd., Strike Price USD 15, |
|
|
155 |
|
|
(5,425 |
) |
Inverness
Medical Innovations, Inc., |
|
|
150 |
|
|
(1,500 |
) |
Ironwood
Pharmaceuticals, Inc., Strike |
|
|
10 |
|
|
(400 |
) |
Ironwood
Pharmaceuticals, Inc., Strike |
|
|
100 |
|
|
(10,500 |
) |
Johnson
& Johnson, Strike Price USD 60, |
|
|
259 |
|
|
(4,662 |
) |
Life
Technologies Corp., Strike Price |
|
|
120 |
|
|
(2,240 |
) |
McKesson,
Corp., Strike Price USD 70, |
|
|
150 |
|
|
(750 |
) |
McKesson,
Corp., Strike Price USD 72.50, |
|
|
185 |
|
|
(925 |
) |
Medco
Health Solutions, Inc., Strike |
|
|
60 |
|
|
(158 |
) |
Medco
Health Solutions, Inc., Strike |
|
|
100 |
|
|
(1,000 |
) |
Mednax,
Inc., Strike Price USD 60, |
|
|
60 |
|
|
(300 |
) |
Medtronic,
Inc., Strike Price USD 40, |
|
|
150 |
|
|
(1,200 |
) |
Merck &
Co., Inc., Strike Price USD 36, |
|
|
200 |
|
|
(3,600 |
) |
Merck &
Co., Inc., Strike Price USD 37, |
|
|
100 |
|
|
(650 |
) |
Patterson
Cos., Inc., Strike Price USD |
|
|
150 |
|
|
(750 |
) |
Pfizer,
Inc., Strike Price USD 15, Expires |
|
|
458 |
|
|
(16,488 |
) |
Pfizer,
Inc., Strike Price USD 16, Expires |
|
|
542 |
|
|
(5,962 |
) |
Quest
Diagnostics, Inc., Strike Price USD |
|
|
50 |
|
|
(375 |
) |
Sigma-Aldrich
Corp., Strike Price USD |
|
|
55 |
|
|
(1,925 |
) |
Sirona
Dental Systems, Inc., Strike Price |
|
|
50 |
|
|
(875 |
) |
Sirona
Dental Systems, Inc., Strike Price |
|
|
120 |
|
|
(1,200 |
) |
St. Jude
Medical, Inc., Strike Price USD |
|
|
100 |
|
|
(7,366 |
) |
St. Jude
Medical, Inc., Strike Price USD |
|
|
350 |
|
|
(3,500 |
) |
Tenet
Healthcare Corp., Strike Price |
|
|
500 |
|
|
(17,500 |
) |
Teva
Pharmaceutical Ltd. - ADR, Strike |
|
|
50 |
|
|
(525 |
) |
Thermo
Fisher Scientific, Inc., Strike |
|
|
390 |
|
|
(11,370 |
) |
Thermo
Fisher Scientific, Inc., Strike |
|
|
240 |
|
|
(5,433 |
) |
Thermo
Fisher Scientific, Inc., Strike |
|
|
40 |
|
|
(400 |
) |
Thermo
Fisher Scientific, Inc., Strike |
|
|
90 |
|
|
(900 |
) |
Thoratec
Corp., Strike Price USD 50, |
|
|
100 |
|
|
(500 |
) |
UnitedHealth
Group, Inc., Strike Price |
|
|
190 |
|
|
(10,640 |
) |
UnitedHealth
Group, Inc., Strike Price |
|
|
120 |
|
|
(6,900 |
) |
|
|
|
|
|
|
JULY 31, 2010 |
2 |
|
|
|
|
Schedule of Investments (continued) |
BlackRock Health Sciences Trust (BME) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
Options Written |
|
Contracts |
|
Value |
|
||
|
|
|
|
|
|
||
Exchange-Traded Call Options Written(concluded) |
|
|
|
|
|
|
|
UnitedHealth
Group, Inc., Strike Price |
|
|
100 |
|
$ |
(900 |
) |
Varian
Medical Systems, Inc., Strike |
|
|
100 |
|
|
(15,000 |
) |
Watson
Pharmaceuticals, Inc., Strike |
|
|
250 |
|
|
(2,500 |
) |
WellPoint,
Inc., Strike Price USD 55, |
|
|
215 |
|
|
(3,010 |
) |
WellPoint,
Inc., Strike Price USD 55, |
|
|
150 |
|
|
(9,825 |
) |
Zimmer
Holdings, Inc., Strike Price USD |
|
|
155 |
|
|
(6,588 |
) |
Zimmer
Holdings, Inc., Strike Price USD |
|
|
150 |
|
|
(1,180 |
) |
|
|
|
|
|
|
|
|
Total Exchange-Traded Call Options Written |
|
|
|
|
|
(1,317,345 |
) |
|
|
|
|
|
|
|
|
Exchange-Traded Put Options Written(0.0)% |
|
|
|
|
|
|
|
Abbott
Laboratories, Strike Price USD |
|
|
200 |
|
|
(8,600 |
) |
Aetna,
Inc., Strike Price USD 27, Expires |
|
|
75 |
|
|
(3,188 |
) |
BioMarin
Pharmaceuticals, Inc., Strike |
|
|
255 |
|
|
(6,375 |
) |
Bristol-Myers
Squibb Co., Strike Price |
|
|
100 |
|
|
(1,950 |
) |
Gilead
Sciences, Inc., Strike Price USD |
|
|
150 |
|
|
(4,125 |
) |
Gilead
Sciences, Inc., Strike Price USD |
|
|
150 |
|
|
(6,975 |
) |
UnitedHealth
Group, Inc., Strike Price |
|
|
120 |
|
|
(25,800 |
) |
WellPoint,
Inc., Strike Price USD 47.50, |
|
|
35 |
|
|
(1,382 |
) |
|
|
|
|
|
|
|
|
Total Exchange-Traded Put Options Written |
|
|
|
|
|
(58,395 |
) |
|
|
|
|
|
|
|
|
Over-the-Counter Call Options Written(0.1)% |
|
|
|
|
|
|
|
Bristol-Myers
Squibb Co., Strike Price |
|
|
10,000 |
|
|
(6,710 |
) |
Bristol-Myers
Squibb Co., Strike Price |
|
|
10,000 |
|
|
(3,181 |
) |
Covidien
Plc, Strike Price USD 40.18, |
|
|
8,000 |
|
|
(2,136 |
) |
Dionex
Corp., Strike Price USD 80.07, |
|
|
12,000 |
|
|
(6,722 |
) |
Eli Lilly
& Co., Strike Price USD 35.04, |
|
|
2,500 |
|
|
(1,503 |
) |
Fresenius
Medical Care AG & Co. KGaA, |
|
|
73 |
|
|
(11,794 |
) |
Fresenius
Medical Care AG & Co. KGaA, |
|
|
15,500 |
|
|
(11,661 |
) |
Fresenius
Medical Care AG & Co. KGaA, |
|
|
150 |
|
|
(873 |
) |
GlaxoSmithKline
Plc, Strike Price GBP |
|
|
25,500 |
|
|
(1,837 |
) |
Mettler-Toledo
International, Inc., Strike |
|
|
5,000 |
|
|
(9,861 |
) |
Mettler-Toledo
International, Inc., Strike |
|
|
5,000 |
|
|
(5,435 |
) |
|
|
|
|
|
|
|
|
Options Written |
|
Contracts |
|
Value |
|
||
|
|
|
|
|
|
||
Over-the-Counter Call Options Written(concluded) |
|
|
|
|
|
|
|
Nobel
Biocare Holding AG, Strike Price |
|
|
100 |
|
$ |
(1,012 |
) |
Novartis
AG, Registered Shares, Strike |
|
|
11,000 |
|
|
(158 |
) |
Pfizer,
Inc., Strike Price USD 15.29, |
|
|
156,000 |
|
|
(102,618 |
) |
Pfizer,
Inc., Strike Price USD 16, Expires |
|
|
40,000 |
|
|
(17,480 |
) |
St. Jude
Medical, Inc., Strike Price USD |
|
|
10,000 |
|
|
(10,800 |
) |
Tecan Group
AG, Registered Shares, |
|
|
7,800 |
|
|
(7,921 |
) |
Tenet
Healthcare Corp., Strike Price |
|
|
70,000 |
|
|
(20,930 |
) |
Teva
Pharmaceutical Ltd. - ADR, Strike |
|
|
8,000 |
|
|
(1,653 |
) |
UnitedHealth
Group, Inc., Strike Price |
|
|
55,500 |
|
|
(1,111 |
) |
|
|
|
|
|
|
|
|
Total Over-the-Counter Call Options Written |
|
|
|
|
|
(225,396 |
) |
|
|
|
|
|
|
|
|
Total Options Written |
|
|
|
|
|
(1,601,136 |
) |
|
|
|
|
|
|
|
|
Total investments net of outstanding options written102.2% |
|
|
195,473,466 |
|
|||
Liabilities in Excess of Other Assets(2.2)% |
|
|
|
|
|
(4,174,739 |
) |
|
|
|
|
|
|
|
|
Net Assets100.0% |
|
|
|
|
$ |
191,298,727 |
|
|
|
|
|
|
|
|
|
|
|
* |
The cost and unrealized appreciation (depreciation) of investments as of July 31, 2010, as computed for federal income tax purposes, were as follows: |
|
|
|
|
|
Aggregate cost |
|
$ |
195,990,350 |
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
8,838,389 |
|
Gross unrealized depreciation |
|
|
(7,754,137 |
) |
|
|
|
|
|
Net unrealized appreciation |
|
$ |
1,084,252 |
|
|
|
|
|
|
|
|
|
|
(a) |
Non-income producing security. |
|
|
(b) |
Security, or a portion thereof, pledged as collateral for outstanding options written. |
|
|
(c) |
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, as amended, were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Affiliate |
|
Shares/ |
|
Net Activity |
|
Shares/ |
|
Income |
|
||||
|
|
|
|
|
|
|
|
|
|
||||
BlackRock
Liquidity Funds, |
|
|
9,732,338 |
|
|
10,968,776 |
|
|
20,701,114 |
|
$ |
7,658 |
|
BlackRock
Liquidity Series, |
|
|
2,152,000 |
|
|
(2,152,000 |
) |
|
|
|
$ |
756 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
|
JULY 31, 2010 |
|
|
|
|
|
Schedule of Investments (concluded) |
BlackRock Health Sciences Trust (BME) |
|
(Percentages shown are based on Net Assets) |
|
|
(d) |
Represents current yield as of report date. |
|
|
|
Foreign currency exchange contracts as of July 31, 2010 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Currency |
|
Currency |
|
Counterparty |
|
Settlement |
|
Unrealized |
|
|||||
|
|
|
|
|
|
|
|
|
|
|||||
USD |
|
735,769 |
|
EUR |
|
562,000 |
|
UBS |
|
8/03/10 |
|
$ |
3,399 |
|
CHF |
|
483,000 |
|
USD |
|
464,115 |
|
Deutsche |
|
8/04/10 |
|
|
(430 |
) |
GBP |
|
100,000 |
|
USD |
|
155,909 |
|
Deutsche |
|
8/04/10 |
|
|
1,002 |
|
|
||||||||||||||
Total |
|
|
|
|
|
|
|
|
|
|
|
$ |
3,971 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For Trust compliance purposes, the Trusts industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or 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 Trusts own assumptions used in determining the fair value of investments and derivatives) |
|
|
|
|
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trusts policy regarding valuation of investments and other significant accounting policies, please refer to the Trusts most recent financial statements as contained in its semi-annual report. |
|
|
|
|
|
The following tables summarize the inputs used as of July 31, 2010 in determining the fair valuation of the Trusts investments and derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
Valuation Inputs |
|||||||||||
|
|||||||||||||
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Biotechnology |
|
$ |
22,885,686 |
|
|
|
|
|
|
|
$ |
22,885,686 |
|
Chemicals |
|
|
1,088,340 |
|
|
|
|
|
|
|
|
1,088,340 |
|
Food Products |
|
|
313,596 |
|
|
|
|
|
|
|
|
313,596 |
|
Health Care |
|
|
24,316,542 |
|
$ |
1,212,310 |
|
|
|
|
|
25,528,852 |
|
Health Care |
|
|
50,155,953 |
|
|
6,006,084 |
|
|
|
|
|
56,162,037 |
|
Health Care |
|
|
14,193,508 |
|
|
|
|
|
|
|
|
14,193,508 |
|
Life Sciences Tools & |
|
|
12,088,727 |
|
|
1,389,167 |
|
|
|
|
|
13,477,894 |
|
Pharmaceuticals |
|
|
37,425,664 |
|
|
5,296,911 |
|
|
|
|
|
42,722,575 |
|
Short-Term Securities |
|
|
20,701,114 |
|
|
|
|
|
|
|
|
20,701,114 |
|
|
|
|
|||||||||||
Total |
|
$ |
183,169,130 |
|
$ |
13,904,472 |
|
|
|
|
$ |
197,073,602 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative Financial Instruments1 |
|
|
|
|
|||||||
|
|
|
|
|
|
|
|||||||
Valuation Inputs |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
|
|
|
|
|
|
|
|
|
||||
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity contracts |
|
$ |
1,000 |
|
|
|
|
|
|
|
$ |
1,000 |
|
Foreign currency |
|
|
|
|
$ |
4,401 |
|
|
|
|
|
4,401 |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity contracts |
|
|
(1,316,782 |
) |
|
(284,354 |
) |
|
|
|
|
(1,601,136 |
) |
Foreign currency |
|
|
|
|
|
(430 |
) |
|
|
|
|
(430 |
) |
|
|||||||||||||
Total |
|
$ |
(1,315,782 |
) |
$ |
(280,383 |
) |
|
|
|
$ |
(1,596,165 |
) |
|
|
|
1 |
Derivative financial instruments are foreign currency exchange contracts and options. Foreign currency exchange contracts are shown at the unrealized appreciation/depreciation on the instrument and options are shown at value. |
|
|
|
KEY
TO ABBREVIATIONS |
||
ADR |
|
American Depositary Receipt |
CHF |
|
Swiss Franc |
EUR |
|
Euro |
GBP |
|
British Pound |
USD |
|
U.S. Dollar |
|
|
|
|
|
|
JULY 31, 2010 |
4 |
|
|
Item 2 Controls and Procedures |
|
|
|
2(a) |
The registrants principal executive and principal financial officers or persons performing similar functions have concluded that the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the 1940 Act)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended. |
|
|
2(b) |
There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants internal control over financial reporting. |
|
|
Item 3 Exhibits |
|
|
|
|
Certifications Attached hereto |
|
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
|
|
|
BlackRock Health Sciences Trust |
|
|
|
|
|
By: |
/s/ Anne F. Ackerley |
|
|
|
|
|
|
|
Anne F. Ackerley |
|
|
|
Chief Executive Officer of |
|
|
|
BlackRock Health Sciences Trust |
|
|
|
|
|
|
Date: September 27, 2010 |
||
|
|
|
|
|
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/ Anne F. Ackerley |
|
|
|
|
|
|
|
Anne F. Ackerley |
|
|
|
Chief Executive Officer
(principal executive officer) of |
|
|
|
|
|
|
Date: September 27, 2010 |
||
|
|
|
|
|
By: |
/s/ Neal J. Andrews |
|
|
|
|
|
|
|
Neal J. Andrews |
|
|
|
Chief Financial Officer
(principal financial officer) of |
|
|
|
||
|
Date: September 27, 2010 |