N-Q 1 d234321dnq.htm BLACKROCK EQUITY DIVIDEND TRUST (BDV) BlackRock Equity Dividend Trust (BDV)

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 811-21443

Name of Fund: BlackRock Equity Dividend Trust (BDV)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Equity Dividend 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: 07/31/2011

Item 1    –    Schedule of Investments

Schedule of Investments July 31, 2011 (Unaudited)    BlackRock Equity Dividend Trust (BDV)
   (Percentages shown are based on Net Assets)

 

     Shares      Value  

Common Stocks

      

Aerospace & Defense – 5.9%

      

General Dynamics Corp.(a)

      80,700       $ 5,498,898   

Honeywell International, Inc.(a)

      88,000         4,672,800   

Northrop Grumman Corp.(a)

      88,300         5,343,033   

Raytheon Co.(a)

      163,700         7,322,301   

Rockwell Collins, Inc.

      23,300         1,283,597   

United Technologies Corp.(a)

      116,300         9,634,292   
     

 

 

  
        33,754,921   
     

 

 

  

Air Freight & Logistics – 0.8%

      

United Parcel Service, Class B(a)

      65,600         4,540,832   
     

 

 

  

Auto Components – 0.6%

      

Johnson Controls, Inc.(a)

      85,200         3,148,140   
     

 

 

  

Beverages – 2.3%

      

The Coca-Cola Co.(a)

      110,600         7,521,906   

Diageo Plc - ADR(a)

      72,000         5,849,280   
     

 

 

  
        13,371,186   
     

 

 

  

Capital Markets – 0.3%

      

The Bank of New York Mellon Corp.(a)

      57,700         1,448,847   
     

 

 

  

Chemicals – 3.7%

      

Air Products & Chemicals, Inc.

      17,000         1,508,410   

The Dow Chemical Co.

      113,400         3,954,258   

E.I. du Pont de Nemours & Co.(a)

      172,300         8,859,666   

Olin Corp.(a)

      120,100         2,511,291   

Praxair, Inc.(a)

      42,500         4,404,700   
     

 

 

  
        21,238,325   
     

 

 

  

Commercial Banks – 6.7%

      

Bank of Nova Scotia

      114,000         6,464,514   

M&T Bank Corp.(a)

      16,400         1,414,336   

National Bank of Canada

      92,000         7,130,253   

The Toronto-Dominion Bank(a)

      57,300         4,576,551   

U.S. Bancorp(a)

      239,900         6,251,794   

Wells Fargo & Co.(a)

      435,800         12,176,252   
     

 

 

  
        38,013,700   
     

 

 

  

Computers & Peripherals – 0.7%

      

Hewlett-Packard Co.(a)

      107,800         3,790,248   
     

 

 

  

Consumer Finance – 1.1%

      

American Express Co.(a)

      120,900         6,049,836   
     

 

 

  

Containers & Packaging – 0.4%

      

Temple-Inland, Inc.(a)

      78,200         2,347,564   
     

 

 

  

Diversified Financial Services – 3.3%

      

Bank of America Corp.(a)

      435,000         4,223,850   

JPMorgan Chase & Co.(a)

      365,300         14,776,385   
     

 

 

  
        19,000,235   
     

 

 

  

Diversified Telecommunication Services – 5.5%

      

AT&T Inc.(a)

      333,700         9,764,062   

BCE, Inc.(a)

      54,500         2,080,265   

CenturyLink, Inc.(a)

      234,200         8,691,162   

Frontier Communications Corp.(a)

      36,600         274,134   

Verizon Communications, Inc.

      251,100         8,861,319   

Windstream Corp.

      147,500         1,800,975   
     

 

 

  
        31,471,917   
     

 

 

  

Electric Utilities – 3.3%

      

American Electric Power Co., Inc.(a)

      68,300         2,517,538   

Duke Energy Corp.

      114,100         2,122,260   

FirstEnergy Corp.

      23,800         1,062,670   

ITC Holdings Corp.(a)

      18,200         1,278,732   

NextEra Energy, Inc.

      79,100         4,370,275   

Northeast Utilities(a)

      57,800         1,965,200   

PPL Corp.(a)

      54,200         1,512,180   

The Southern Co.(a)

      96,000         3,795,840   
     

 

 

  
        18,624,695   
     

 

 

  

Electrical Equipment – 0.3%

      

Rockwell Automation, Inc.(a)

      26,800         1,923,168   
     

 

 

  

Energy Equipment & Services – 0.8%

      

Schlumberger Ltd.(a)

      47,200         4,265,464   
     

 

 

  

Food & Staples Retailing – 0.8%

      

Wal-Mart Stores, Inc.

      85,400         4,501,434   
     

 

 

  

Food Products – 4.4%

      

General Mills, Inc.(a)

      129,500         4,836,825   

HJ Heinz Co.

      70,800         3,726,912   

Kraft Foods, Inc., Class A(a)

      132,300         4,548,474   

Mead Johnson Nutrition Co.(a)

      76,400         5,452,668   

Unilever NV

      203,500         6,609,680   
     

 

 

  
        25,174,559   
     

 

 

  

Hotels, Restaurants & Leisure – 1.7%

      

McDonald’s Corp.

      108,600         9,391,728   
     

 

 

  

Household Products – 1.8%

      

Kimberly-Clark Corp.

      50,550         3,303,948   

The Procter & Gamble Co.(a)

      114,100         7,016,009   
     

 

 

  
        10,319,957   
     

 

 

  

Portfolio Abbreviations

 

To simplify the listings of portfolio holdings in the Trusts’ Schedules of Investments, the names and descriptions of many securities have been abbreviated according to the following list:   ADR   American Depositary Receipt   JPY   Japanese Yen
  AUD   Australian Dollar   MXN   Mexican Peso
  BRL   Brazil Real   MYR   Malaysian Ringgit
  CAD   Canadian Dollar   NOK   Norwegian Krone
  CHF   Swiss Franc   NVDR   Non-Voting Depository Receipt
  CLP   Chilean Peso   PEN   Peruvian Neuvo Sol
  DKK   Danish Krone   PHP   Philippine Peso
  EUR   Euro   REIT   Real Estate Investment Trust
  GBP   British Pound   SEK   Swedish Krona
  GDR   Global Depositary Receipt   SGD   Singapore Dollar
  HKD   Hong Kong Dollar   TWD   Taiwan Dollar
  ILS   Israeli Shekel   USD   US Dollar
  KRW   South Korean Won   ZAR   South African Rand

 

         JULY 31, 2011   1

Schedule of Investments (continued)    BlackRock Equity Dividend Trust (BDV)
   (Percentages shown are based on Net Assets)

 

     Shares      Value  

Common Stocks

      

Industrial Conglomerates – 2.7%

      

3M Co.

      61,200       $ 5,332,968   

General Electric Co.(a)

      547,300         9,802,143   
     

 

 

  
        15,135,111   
     

 

 

  

Insurance – 3.1%

      

Chubb Corp.

      94,400         5,898,112   

Prudential Financial, Inc.(a)

      74,900         4,395,132   

The Travelers Cos., Inc.

      137,800         7,596,914   
     

 

 

  
        17,890,158   
     

 

 

  

IT Services – 2.2%

      

Automatic Data Processing, Inc.(a)

      30,000         1,544,700   

International Business Machines Corp.(a)

      61,100         11,111,035   
     

 

 

  
        12,655,735   
     

 

 

  

Leisure Equipment & Products – 0.5%

      

Mattel, Inc.

      104,800         2,793,968   
     

 

 

  

Machinery – 4.1%

      

Caterpillar, Inc.(a)

      122,200         12,072,138   

Deere & Co.(a)

      144,400         11,336,844   
     

 

 

  
        23,408,982   
     

 

 

  

Media – 0.9%

      

Comcast Corp.(a)

      218,700         5,104,458   

The McGraw-Hill Cos., Inc.

      4,100         170,560   
     

 

 

  
        5,275,018   
     

 

 

  

Metals & Mining – 4.1%

      

BHP Billiton Ltd. - ADR(a)

      176,200         16,131,110   

Rio Tinto Plc - ADR(a)

      73,800         5,238,324   

Southern Copper Corp.(a)

      66,100         2,257,976   
     

 

 

  
        23,627,410   
     

 

 

  

Multi-Utilities – 2.4%

      

Consolidated Edison, Inc.(a)

      26,200         1,378,120   

Dominion Resources, Inc.

      104,100         5,043,645   

Public Service Enterprise Group, Inc.

      104,000         3,406,000   

Sempra Energy(a)

      35,100         1,779,219   

Wisconsin Energy Corp.

      59,000         1,808,350   
     

 

 

  
        13,415,334   
     

 

 

  

Oil, Gas & Consumable Fuels – 13.9%

      

Chevron Corp.

      179,250         18,645,585   

ConocoPhillips

      99,300         7,148,607   

Enbridge, Inc.

      210,500         6,911,283   

EQT Corp.

      76,800         4,875,264   

Exxon Mobil Corp.(a)

      163,900         13,077,581   

Kinder Morgan, Inc.(a)(b)

      35,400         999,342   

Marathon Oil Corp.

      126,600         3,920,802   

Marathon Petroleum Corp.(b)

      63,300         2,771,907   

Murphy Oil Corp.(a)

      10,900         699,998   

Occidental Petroleum Corp.(a)

      64,500         6,332,610   

Peabody Energy Corp.(a)

      22,100         1,270,087   

Spectra Energy Corp.(a)

      99,000         2,674,980   

Total SA - ADR

      184,700         9,986,729   
     

 

 

  
        79,314,775   
     

 

 

  

Paper & Forest Products – 1.1%

      

MeadWestvaco Corp.

      134,000         4,172,760   

Weyerhaeuser Co.

      111,800         2,234,882   
     

 

 

  
        6,407,642   
     

 

 

  

Pharmaceuticals – 5.7%

      

Abbott Laboratories(a)

      88,700         4,552,084   

Bristol-Myers Squibb Co.(a)

      300,200         8,603,732   

Johnson & Johnson

      92,200         5,973,638   

Merck & Co., Inc.(a)

      172,000         5,870,360   

Pfizer, Inc.(a)

      400,000         7,696,000   
     

 

 

  
        32,695,814   
     

 

 

  

Road & Rail – 1.9%

      

Canadian National Railway Co.

      88,000         6,587,680   

Union Pacific Corp.(a)

      40,300         4,129,944   
     

 

 

  
        10,717,624   
     

 

 

  

Semiconductors & Semiconductor Equipment – 0.9%

      

Intel Corp.(a)

      217,200         4,850,076   
     

 

 

  

Software – 0.5%

      

Microsoft Corp.

      109,500         3,000,300   
     

 

 

  

Specialty Retail – 1.9%

      

Home Depot, Inc.

      150,300         5,249,979   

Limited Brands, Inc.(a)

      148,300         5,614,638   
     

 

 

  
        10,864,617   
     

 

 

  

Textiles, Apparel & Luxury Goods – 1.1%

      

VF Corp.(a)

      55,200         6,447,360   
     

 

 

  

Tobacco – 3.2%

      

Altria Group, Inc.(a)

      116,000         3,050,800   

Lorillard, Inc.(a)

      42,700         4,535,594   

Philip Morris International, Inc.(a)

      146,900         10,454,873   
     

 

 

  
        18,041,267   
     

 

 

  

Water Utilities – 0.6%

      

American Water Works Co., Inc.

      117,300         3,284,400   
     

 

 

  

Wireless Telecommunication Services – 0.6%

      

Rogers Communications, Inc., Class B

      23,300         889,616   

Vodafone Group Plc - ADR(a)

      95,500         2,683,550   
     

 

 

  
        3,573,166   
     

 

 

  

Total Common Stocks – 95.8%

         545,775,513   
     

 

 

  

Exchange-Traded Funds – 1.5%

      

SPDR S&P 500 ETF Trust(a)

      65,000         8,388,250   
     

 

 

  

Total Long-Term Investments
(Cost – $541,766,164) – 97.3%

         554,163,763   
     

 

 

  

Short-Term Securities

      

BlackRock Liquidity Funds, TempFund, Institutional Class,

      

0.06%(c)(d)

      14,579,868         14,579,868   
     

 

 

  

Total Short-Term Securities
(Cost – $14,579,868) – 2.5%

         14,579,868   
     

 

 

  

Total Investments Before Outstanding Options Written
(Cost – $556,346,032*) – 99.8%

         568,743,631   
     

 

 

  

 

2        JULY 31, 2011    

Schedule of Investments (continued)    BlackRock Equity Dividend Trust (BDV)
   (Percentages shown are based on Net Assets)

 

     Contracts      Value  

Options Written

      

Exchange-Traded Call Options Written – (0.2)%

      

Abbott Laboratories:

      

Strike Price USD 53.75, Expires 8/12/11

      25       $ (108 ) 

Strike Price USD 52.50, Expires 8/22/11

      151         (4,757 ) 

Altria Group, Inc., Strike Price USD 27, Expires 9/19/11

      230         (7,705 ) 

American Electric Power Co., Inc., Strike Price USD 38, Expires 9/19/11

      135         (3,375 ) 

American Express Co., Strike Price USD 52.50, Expires 8/22/11

      240         (11,400 ) 

AT&T Inc.:

      

Strike Price USD 31, Expires 8/22/11

      150         (975 ) 

Strike Price USD 30, Expires 9/19/11

      520         (23,920 ) 

Automatic Data Processing, Inc., Strike Price USD 52.50, Expires 8/22/11

      60         (3,300 ) 

Bank of America Corp., Strike Price USD 10, Expires 8/22/11

      435         (12,180 ) 

The Bank of New York Mellon Corp., Strike Price USD 26, Expires 9/19/11

      115         (7,590 ) 

BCE, Inc., Strike Price USD 40, Expires 9/19/11

      109         (3,542 ) 

BHP Billiton Ltd. - ADR:

      

Strike Price USD 100, Expires 8/22/11

      99         (2,524 ) 

Strike Price USD 95, Expires 8/22/11

      250         (28,875 ) 

Bristol-Myers Squibb Co., Strike Price USD 28, Expires 8/22/11

      600         (59,400 ) 

Caterpillar, Inc.:

      

Strike Price USD 111, Expires 8/22/11

      135         (4,437 ) 

Strike Price USD 110, Expires 9/19/11

      110         (13,915 ) 

CenturyLink, Inc., Strike Price USD 41, Expires 8/22/11

      120         (600 ) 

The Coca-Cola Co., Strike Price USD 67.50, Expires 8/22/11

      220         (29,810 ) 

Comcast Corp., Strike Price USD 25, Expires 8/22/11

      72         (1,440 ) 

Consolidated Edison, Inc., Strike Price USD 52.75, Expires 9/12/11

      50         (3,159 ) 

Deere & Co., Strike Price USD 82.50, Expires 8/22/11

      290         (35,670 ) 

Diageo Plc - ADR:

      

Strike Price USD 85, Expires 8/22/11

      78         (2,145 ) 

Strike Price USD 85, Expires 9/19/11

      65         (5,525 ) 

E.I. du Pont de Nemours & Co., Strike Price USD 55, Expires 8/22/11

      195         (3,608 ) 

Exxon Mobil Corp., Strike Price USD 82.50, Expires 8/22/11

      60         (3,450 ) 

Frontier Communications Corp., Strike Price USD 8, Expires 8/22/11

      62         (620 ) 

General Dynamics Corp., Strike Price USD 72.50, Expires 9/19/11

      160         (13,200 ) 

General Electric Co., Strike Price USD 19, Expires 8/22/11

      760         (10,640 ) 

General Mills, Inc.:

      

Strike Price USD 38, Expires 8/22/11

      56         (1,540 ) 

Strike Price USD 38, Expires 9/19/11

      130         (7,865 ) 

Hewlett-Packard Co., Strike Price USD 36, Expires 8/22/11

      1,078         (86,779 ) 

Honeywell International, Inc.:

      

Strike Price USD 59, Expires 8/12/11

      30         (83 ) 

Strike Price USD 57.50, Expires 8/22/11

      150         (2,775 ) 

Intel Corp., Strike Price USD 22, Expires 8/22/11

      430         (29,025 ) 

International Business Machines Corp., Strike Price USD 175, Expires 8/22/11

      120         (92,400 ) 

ITC Holdings Corp., Strike Price USD 71.50, Expires 8/31/11

      25         (2,438 ) 

Johnson Controls, Inc.:

      

Strike Price USD 41, Expires 8/22/11

      60         (600 ) 

Strike Price USD 42, Expires 8/22/11

      110         (1,100 ) 

JPMorgan Chase & Co.:

      

Strike Price USD 42, Expires 8/22/11

      500         (31,000 ) 

Strike Price USD 43, Expires 9/19/11

      230         (17,940 ) 

Kinder Morgan, Inc., Strike Price USD 28.75, Expires 8/31/11

      70         (4,602 ) 

Kraft Foods, Inc., Class A, Strike Price USD 36, Expires 8/22/11

      265         (2,915 ) 

Limited Brands, Inc.:

      

Strike Price USD 41, Expires 8/22/11

      280         (9,800 ) 

Strike Price USD 40, Expires 8/22/11

      15         (900 ) 

Lorillard, Inc., Strike Price USD 110, Expires 8/22/11

      73         (11,315 ) 

M&T Bank Corp., Strike Price USD 85, Expires 8/22/11

      33         (8,828 ) 

Mead Johnson Nutrition Co., Strike Price USD 70, Expires 8/22/11

      153         (36,414 ) 

Merck & Co., Inc., Strike Price USD 37, Expires 8/22/11

      155         (543 ) 

Murphy Oil Corp.:

      

Strike Price USD 65, Expires 8/22/11

      10         (1,700 ) 

Strike Price USD 67.50, Expires 8/22/11

      10         (900 ) 

Northeast Utilities, Strike Price USD 35.50, Expires 9/19/11

      115         (2,834 ) 

Northrop Grumman Corp., Strike Price USD 67.50, Expires 8/22/11

      170         (1,700 ) 

Occidental Petroleum Corp., Strike Price USD 105, Expires 8/22/11

      130         (10,595 ) 

Olin Corp., Strike Price USD 22.50, Expires 8/22/11

      240         (3,600 ) 

Peabody Energy Corp., Strike Price USD 57.50, Expires 8/22/11

      45         (9,225 ) 

Pfizer, Inc., Strike Price USD 21, Expires 8/22/11

      50         (225 ) 

Philip Morris International, Inc.:

      

Strike Price USD 70, Expires 8/22/11

      100         (21,750 ) 

Strike Price USD 67.50, Expires 8/22/11

      200         (82,000 ) 

PPL Corp.:

      

Strike Price USD 27.85, Expires 8/22/11

      55         (2,357 ) 

Strike Price USD 27.85, Expires 9/06/11

      55         (2,695 ) 

Praxair, Inc., Strike Price USD 115, Expires 8/22/11

      85         (850 ) 

The Procter & Gamble Co., Strike Price USD 65, Expires 8/22/11

      230         (2,760 ) 

Prudential Financial, Inc., Strike Price USD 62.50, Expires 8/22/11

      150         (10,800 ) 

Raytheon Co., Strike Price USD 49, Expires 8/22/11

      75         (375 ) 

Rio Tinto Plc - ADR, Strike Price USD 72.50, Expires 8/22/11

      150         (18,000 ) 

Rockwell Automation, Inc., Strike Price USD 85, Expires 8/22/11

      53         (530 ) 

Schlumberger Ltd., Strike Price USD 85, Expires 8/22/11

      95         (61,750 ) 

 

         JULY 31, 2011   3

Schedule of Investments (continued)    BlackRock Equity Dividend Trust (BDV)
   (Percentages shown are based on Net Assets)

 

     Contracts      Value  

Options Written

      

Exchange-Traded Call Options Written (concluded)

      

Sempra Energy, Strike Price USD 52.50, Expires 9/19/11

      70       $ (4,025 ) 

The Southern Co., Strike Price USD 40, Expires 8/22/11

      200         (6,100 ) 

Southern Copper Corp., Strike Price USD 37, Expires 9/19/11

      135         (8,775 ) 

SPDR S&P 500 ETF Trust:

      

Strike Price USD 134, Expires 8/22/11

      163         (15,322 ) 

Strike Price USD 135, Expires 8/22/11

      162         (10,611 ) 

Spectra Energy Corp., Strike Price USD 27.50, Expires 8/22/11

      200         (5,686 ) 

Temple-Inland, Inc., Strike Price USD 31, Expires 8/22/11

      155         (3,875 ) 

The Toronto-Dominion Bank:

      

Strike Price USD 85, Expires 8/22/11

      63         (1,732 ) 

Strike Price USD 82.50, Expires 8/22/11

      51         (4,208 ) 

U.S. Bancorp:

      

Strike Price USD 25, Expires 8/22/11

      230         (32,890 ) 

Strike Price USD 24.95, Expires 9/09/11

      250         (40,367 ) 

Union Pacific Corp.:

      

Strike Price USD 100, Expires 8/22/11

      15         (6,450 ) 

Strike Price USD 105, Expires 8/22/11

      65         (10,692 ) 

United Parcel Service, Class B:

      

Strike Price USD 72.50, Expires 8/22/11

      110         (3,135 ) 

Strike Price USD 75, Expires 8/22/11

      20         (190 ) 

United Technologies Corp., Strike Price USD 87.50, Expires 8/22/11

      230         (8,970 ) 

VF Corp., Strike Price USD 110, Expires 8/22/11

      110         (86,900 ) 

Vodafone Group Plc - ADR, Strike Price USD 27, Expires 8/22/11

      190         (25,650 ) 

Wells Fargo & Co.:

      

Strike Price USD 27, Expires 8/22/11

      290         (41,325 ) 

Strike Price USD 28, Expires 8/22/11

      290         (24,360 ) 

Strike Price USD 30, Expires 9/19/11

      290         (13,630 ) 
     

 

 

  

Total Exchange-Traded Call Options Written

         (1,236,271 ) 
     

 

 

  

Over-the-Counter Call Options Written – (0.1)%

      

American Water Works Co., Inc., Strike Price USD 29.35, Expires 8/09/11, Broker Goldman Sachs & Co.

      23,500         (474 ) 

Bank of Nova Scotia, Strike Price CAD 59, Expires 8/22/11, Broker T.D. Securities

      230         (1,444 ) 

CenturyLink, Inc., Strike Price USD 39.62, Expires 9/08/11, Broker UBS Securities LLC

      35,000         (8,154 ) 

Chevron Corp., Strike Price USD 106.76, Expires 9/13/11, Broker Morgan Stanley & Co., Inc.

      36,000         (76,528 ) 

Comcast Corp., Strike Price USD 22.87, Expires 8/04/11, Broker Morgan Stanley & Co., Inc.

      36,500         (19,788 ) 

Dominion Resources, Inc, Strike Price USD 48.50, Expires 8/31/11, Broker Deutsche Bank Securities Corp.

      21,000         (17,532 ) 

Duke Energy Corp., Strike Price USD 19, Expires 8/31/11, Broker Citigroup Global Markets, Inc.

      23,000         (2,455 ) 

E.I. du Pont de Nemours & Co., Strike Price USD 55.02, Expires 9/06/11, Broker Goldman Sachs & Co.

      7,000         (3,145 ) 

Enbridge, Inc., Strike Price CAD 31.50, Expires 9/19/11, Broker T.D. Securities

      420         (27,914 ) 

EQT Corp., Strike Price USD 50.99, Expires 8/08/11, Broker Citigroup Global Markets, Inc.

      15,500         (193,549 ) 

Exxon Mobil Corp., Strike Price USD 83.37, Expires 9/09/11, Broker Morgan Stanley & Co., Inc.

      26,500         (21,720 ) 

FirstEnergy Corp., Strike Price USD 43.30, Expires 8/31/11, Broker Deutsche Bank Securities Corp.

      5,000         (8,518 ) 

General Electric Co.:

      

Strike Price USD 18.90, Expires 8/30/11, Broker Citigroup Global Markets, Inc.

      15,500         (3,263 ) 

Strike Price USD 19.06, Expires 9/08/11, Broker UBS Securities LLC

      18,000         (3,724 ) 

General Mills, Inc., Strike Price USD 37.85, Expires 8/31/11, Broker Goldman Sachs & Co.

      7,500         (3,257 ) 

HJ Heinz Co., Strike Price USD 53.62, Expires 8/12/11, Broker Goldman Sachs & Co.

      14,000         (2,062 ) 

Johnson & Johnson, Strike Price USD 67.54, Expires 8/25/11, Broker Morgan Stanley & Co., Inc.

      18,500         (3,343 ) 

Marathon Oil Corp., Strike Price USD 52.65, Expires 8/09/11, Broker Morgan Stanley & Co., Inc.

      26,500         (34,241 ) 

Mattel, Inc., Strike Price USD 27.50, Expires 9/12/11, Broker Deutsche Bank Securities Corp.

      21,000         (8,001 ) 

McDonald’s Corp., Strike Price USD 86, Expires 8/29/11, Broker Goldman Sachs & Co.

      22,000         (39,423 ) 

MeadWestvaco Corp., Strike Price USD 33.25, Expires 9/16/11, Broker Citigroup Global Markets, Inc.

      26,500         (10,513 ) 

Merck & Co., Inc., Strike Price USD 36.75, Expires 8/05/11, Broker Morgan Stanley & Co., Inc.

      18,000         (30 ) 

National Bank of Canada, Strike Price CAD 80, Expires 8/22/11, Broker T.D. Securities

      184         (1,059 ) 

NextEra Energy, Inc., Strike Price USD 57.40, Expires 8/31/11, Broker Societe General Securities Corp.

      16,000         (5,369 ) 

Pfizer, Inc., Strike Price USD 21.50, Expires 8/04/11, Broker Deutsche Bank Securities Corp.

      75,000         (10 ) 

Public Service Enterprise Group, Inc., Strike Price USD 32, Expires 9/12/11, Broker UBS Securities LLC

      21,000         (29,801 ) 

Raytheon Co., Strike Price USD 45.89, Expires 8/29/11, Broker Citigroup Global Markets, Inc.

      25,000         (14,667 ) 

Rockwell Collins, Inc., Strike Price USD 59, Expires 8/31/11, Broker Deutsche Bank Securities Corp.

      4,700         (1,020 ) 

Rogers Communications, Inc., Class B, Strike Price CAD 38, Expires 8/22/11, Broker T.D. Securities

      47         (467 ) 

The Travelers Cos., Inc.:

      

Strike Price USD 59.19, Expires 8/29/11, Broker Goldman Sachs & Co.

      22,500         (3,784 ) 

Strike Price USD 57.98, Expires 9/09/11, Broker Credit Suisse First Boston

      5,100         (1,867 ) 

Unilever NV, Strike Price USD 32.95, Expires 8/12/11, Broker Morgan Stanley & Co., Inc.

      40,000         (14,190 ) 

Weyerhaeuser Co., Strike Price USD 22.41, Expires 8/29/11, Broker Deutsche Bank Securities Corp.

      22,500         (2,534 ) 

 

4        JULY 31, 2011    

Schedule of Investments (concluded)    BlackRock Equity Dividend Trust (BDV)
   (Percentages shown are based on Net Assets)

 

     Contracts      Value  

Options Written

      

Over-the-Counter Call Options Written (concluded)

      

Windstream Corp., Strike Price USD 12.60, Expires 8/31/11, Broker Deutsche Bank Securities Corp.

      29,500       $ (2,803 ) 

Wisconsin Energy Corp., Strike Price USD 31.35, Expires 9/12/11, Broker JPMorgan Chase Securities

      12,000         (2,297 ) 
     

 

 

  

Total Over-the-Counter Call Options Written

         (568,946 ) 
     

 

 

  

Total Options Written (Premiums Received – $2,221,862) – (0.3)%

         (1,805,217 ) 
     

 

 

  

Total Investments Net of Outstanding Options Written – 99.5%

         566,938,414   

Other Assets Less Liabilities – 0.5%

         2,751,397   
     

 

 

  

Net Assets – 100.0%

       $ 569,689,811   
     

 

 

  

 

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

 

Aggregate cost

    $ 566,872,826   
  

 

 

  

Gross unrealized appreciation

    $ 12,998,823   

Gross unrealized depreciation

      (11,128,018 ) 
  

 

 

  

Net unrealized appreciation

    $ 1,870,805   
  

 

 

  

 

(a) All or a portion of security has been pledged/segregated as collateral in connection with outstanding options written.

 

(b) Non-income producing security.

 

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

 

(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
July  31,
2011		      Realized
Gain		      Income  

BlackRock Liquidity Funds, TempFund, Institutional Class

      6,437,531         8,142,337         14,579,868       $ 124       $ 13,237   

 

•  

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

 

Currency
Purchased

   

Currency

Sold

     

Counterparty

    Settlement
Date		      Unrealized
Depreciation		  

USD

    45,915    CAD      44,000      

Citigroup Global Markets, Inc.

      8/02/11       $ (136 ) 

 

•  

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. These definitions may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease.

 

•  

Fair Value Measurements – Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are categorized in three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 – price quotations in active markets/exchanges for identical assets and liabilities

 

  •  

Level 2 – other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other 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 derivative financial instruments)

The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and does not necessarily correspond to the Trust’s perceived risk of investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its semi-annual report. The following tables summarize the inputs used as of July 31, 2011 in determining the fair valuation of the Trust’s investments and derivative financial instruments:

 

Valuation Inputs

    Level 1      Level 2      Level 3      Total  

Assets:

            

Investments:

            

Long-Term Investments:

            

Common Stocks1

    $ 545,775,513         –         –       $ 545,775,513   

Exchange-Traded Funds

      8,388,250         –         –         8,388,250   

Short-Term Securities

      14,579,868         –         –         14,579,868   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 568,743,631         –         –       $ 568,743,631   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

1 

See above Schedule of Investments for values in each industry.

 

Valuation Inputs

    Level 1     Level 2     Level 3      Total  

Derivative Financial Instruments2

          

Liabilities:

          

Equity contracts

    $ (1,198,389 )    $ (606,828 )      –       $ (1,805,217 ) 

Foreign currency exchange contracts

      (136 )      –        –         (136 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Total

    $ (1,198,525 )    $ (606,828 )      –       $ (1,805,353 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

 

2 

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.

 

         JULY 31, 2011   5

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 Equity Dividend Trust

By:  

/s/ John M. Perlowski

    
  John M. Perlowski    
 

Chief Executive Officer (principal executive officer) of

BlackRock Equity Dividend Trust

Date: September 26, 2011

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:  

/s/ John M. Perlowski

    
  John M. Perlowski    
 

Chief Executive Officer (principal executive officer) of

BlackRock Equity Dividend Trust

Date: September 26, 2011

 

By:  

/s/ Neal J. Andrews

    
  Neal J. Andrews    
 

Chief Financial Officer (principal financial officer) of

BlackRock Equity Dividend Trust

Date: September 26, 2011