-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
SICR2M+VUpNgLqMGo+w/RDCowWhX+IvboB9Uhzs98YihDB+XJHROniAShqsY0J0U
O/wdfhHCj9FNAqW+k3l6RA==
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 811-03595 Name of Fund: BlackRock Healthcare Fund, Inc. Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Healthcare Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrants telephone number, including area code: (800) 441-7762 Date of fiscal year end: 04/30/2009 Date of reporting period: 11/01/2008 01/31/2009 Item 1 Schedule of Investments |
BlackRock Healthcare Fund, Inc. | ||||||||
Schedule of Investments January 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||||||
Industry | Common Stocks | Shares | Value | |||||
Biotechnology - 32.2% | Alexion Pharmaceuticals, Inc. (a) | 40,000 | $ 1,474,800 | |||||
Amgen, Inc. (a) | 99,000 | 5,430,150 | ||||||
BioMarin Pharmaceuticals, Inc. (a) | 101,000 | 1,945,260 | ||||||
Biogen Idec, Inc. (a) | 40,000 | 1,946,000 | ||||||
Celgene Corp. (a) | 325,000 | 17,208,750 | ||||||
Cephalon, Inc. (a)(b) | 48,733 | 3,761,213 | ||||||
Cougar Biotechnology, Inc. (a) | 50,000 | 1,459,000 | ||||||
Genentech, Inc. (a) | 388,000 | 31,521,120 | ||||||
Genzyme Corp. (a) | 224,600 | 15,479,432 | ||||||
Gilead Sciences, Inc. (a) | 290,000 | 14,723,300 | ||||||
Lexicon Genetics, Inc. (a) | 1,065,000 | 1,267,350 | ||||||
Onyx Pharmaceuticals, Inc. (a) | 100,000 | 3,043,000 | ||||||
Seattle Genetics, Inc. (a) | 200,000 | 2,018,000 | ||||||
Vertex Pharmaceuticals, Inc. (a) | 91,000 | 3,007,550 | ||||||
104,284,925 | ||||||||
Health Care Equipment & Supplies - 16.5% | Baxter International, Inc. | 102,000 | 5,982,300 | |||||
Gen-Probe, Inc. (a) | 129,000 | 5,807,580 | ||||||
Hologic, Inc. (a) | 280,000 | 3,301,200 | ||||||
Integra LifeSciences Holdings Corp. (a) | 40,000 | 1,109,600 | ||||||
Intuitive Surgical, Inc. (a) | 21,500 | 2,219,445 | ||||||
Masimo Corp. (a) | 400,000 | 11,108,000 | ||||||
Medtronic, Inc. | 50,000 | 1,674,500 | ||||||
NuVasive, Inc. (a) | 47,000 | 1,754,980 | ||||||
SonoSite, Inc. (a)(b) | 465,000 | 8,830,350 | ||||||
St. Jude Medical, Inc. (a) | 75,000 | 2,727,750 | ||||||
VNUS Medical Technologies, Inc. (a) | 550,000 | 8,805,500 | ||||||
Varian Medical Systems, Inc. (a) | 5,400 | 200,502 | ||||||
53,521,707 | ||||||||
Health Care Providers & Services - 19.3% | Aetna, Inc. | 320,000 | 9,920,000 | |||||
AmerisourceBergen Corp. | 145,000 | 5,266,400 | ||||||
Cardinal Health, Inc. | 40,000 | 1,506,000 | ||||||
Cigna Corp. | 130,000 | 2,256,800 | ||||||
Express Scripts, Inc. (a) | 180,000 | 9,676,800 | ||||||
Genoptix, Inc. (a)(b) | 455,800 | 15,451,620 | ||||||
Health Net, Inc. (a) | 80,000 | 1,170,400 | ||||||
Laboratory Corp. of America Holdings (a) | 50,000 | 2,960,000 | ||||||
Medco Health Solutions, Inc. (a) | 235,000 | 10,558,550 | ||||||
Quest Diagnostics, Inc. | 16,000 | 789,600 | ||||||
WellPoint, Inc. (a) | 68,000 | 2,818,600 | ||||||
62,374,770 | ||||||||
Health Care Technology - 5.8% | Cerner Corp. (a)(b) | 70,000 | 2,360,400 | |||||
HLTH Corp. (a)(b) | 1,433,200 | 16,309,816 | ||||||
18,670,216 | ||||||||
Internet Software & Services - 1.5% | WebMD Health Corp. Class A (a)(b) | 205,300 | 4,812,232 |
1
BlackRock Healthcare Fund, Inc. | ||||||||
Schedule of Investments January 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||||||
Industry | Common Stocks | Shares | Value | |||||
Life Sciences Tools & Services - 3.0% | Life Technologies Corp. (a) | 83,000 | $ 2,113,180 | |||||
Sequenom, Inc. (a) | 165,000 | 3,656,400 | ||||||
Thermo Fisher Scientific, Inc. (a) | 105,000 | 3,772,650 | ||||||
9,542,230 | ||||||||
Pharmaceuticals - 21.4% | Abbott Laboratories | 220,000 | 12,196,800 | |||||
Bayer AG | 85,000 | 4,512,092 | ||||||
Bristol-Myers Squibb Co. | 975,000 | 20,874,750 | ||||||
Forest Laboratories, Inc. (a) | 165,000 | 4,131,600 | ||||||
Johnson & Johnson | 20,000 | 1,153,800 | ||||||
Novartis AG Registered Shares | 20,000 | 821,810 | ||||||
Roche Holding AG | 15,000 | 2,105,771 | ||||||
Shire Pharmaceuticals Plc (c) | 176,000 | 7,685,920 | ||||||
Teva Pharmaceutical Industries Ltd. (c) | 275,000 | 11,398,750 | ||||||
Wyeth | 100,000 | 4,297,000 | ||||||
69,178,293 | ||||||||
Total Long-Term Investments | ||||||||
(Cost - $299,373,435) - 99.7% | 322,384,373 | |||||||
Beneficial | ||||||||
Interest | ||||||||
Short-Term Securities | (000) | |||||||
BlackRock Liquidity Series, LLC | ||||||||
Money Market Series, 0.60% (d)(e)(f) | USD 13,591 | 13,590,600 | ||||||
Total Short-Term Securities | ||||||||
(Cost - $13,590,600) - 4.2% | 13,590,600 | |||||||
Total Investments | ||||||||
(Cost - $312,964,035*) - 103.9% | 335,974,973 | |||||||
Liabilities in Excess Other Assets - (3.9)% | (12,616,866) | |||||||
Net Assets - 100.0% | $ 323,358,107 |
* The cost and unrealized appreciation (depreciation) of investments as of January 31, 2009, as
computed for federal income tax purposes, were as follows:
Aggregate cost | $ 319,240,783 | |||||||||
Gross unrealized appreciation | $ 30,750,680 | |||||||||
Gross unrealized depreciation | (14,016,490) | |||||||||
Net unrealized appreciation | $ 16,734,190 | |||||||||
|
||||||||||
(a) | Non-income producing security. | |||||||||
(b) | Security, or a portion of security, is on loan. | |||||||||
(c) | Depositary receipts. | |||||||||
(d) | Investments in companies considered to be an affiliate of the Fund, for purposes of | |||||||||
Section 2(a)(3) of the Investment Company Act of 1940, were as follows: | ||||||||||
|
| |||||||||
Net | ||||||||||
Affiliate | Activity | Income | ||||||||
BlackRock Liquidity Series, LLC Cash Sweep Series | - | $ 201,684 | ||||||||
BlackRock Liquidity Series, LLC Money Market Series | $ 13,590,600 | $ 435,730 | ||||||||
Merrill Lynch Premier Institutional Fund | $ (87,398,300) | - | ||||||||
|
|
|
| |||||||
(e) | Represents the current yield as of report date. | |||||||||
(f) | Security was purchased with the cash proceeds from securities loans. |
2
BlackRock Healthcare Fund, Inc.
Schedule of Investments January 31, 2009 (Unaudited)
For Fund compliance purposes, the Fund'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
Fund management. This definition may not apply for purposes of this report, which may combine industry sub-
classifications for reporting ease.
Foreign currency exchange contracts as of January 31, 2009 were as follows:
Unrealized | ||||||||||||
Currency | Currency | Settlement | Appreciation | |||||||||
Purchased | Sold | Counterparty | Date | (Depreciation) | ||||||||
USD | 298,991 | CHF | 344,001 | State Street Bank & Trust Co. | 2/03/09 | $ 2,395 | ||||||
USD | 724,644 | CHF | 841,718 | State Street Bank & Trust Co. | 2/04/09 | (1,091) | ||||||
USD | 53,181 | HKD | 412,466 | State Street Bank & Trust Co. | 2/02/09 | (11) | ||||||
USD | 148,804 | HKD | 1,154,078 | State Street Bank & Trust Co. | 2/03/09 | (27) | ||||||
Total | $ 1,266 | |||||||||||
| ||||||||||||
Currency Abbreviations: | ||||||||||||
CHF | Swiss Franc | |||||||||||
HKD | Hong Kong Dollar | |||||||||||
USD | U.S. Dollar |
Effective May 1, 2008, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows: | ||
Level 1 - price quotations in active markets/exchanges for identical securities | ||
Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates) or other market-corroborated inputs) | ||
Level 3 - unobservable inputs based on the best information available in the circumstance, to the extent observable inputs are not available (including the Fund's own assumption used in determining the fair value of investments) | ||
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements as contained in its semi-annual report. | ||
The following table summarizes the inputs used as of January 31, 2009 in determining the fair valuation of
the Fund's investments:
Valuation | Investments in | |||||||
Inputs | Securities | Other Financial Instruments* | ||||||
Assets | Assets | Liabilities | ||||||
Level 1 | $ 314,944,700 | - | - | |||||
Level 2 | 21,030,273 | $ 2,395 | $ (1,129) | |||||
Level 3 | - | - | - | |||||
Total | $ 335,974,973 | $ 2,395 | $ (1,129) |
* Other financial instruments are foreign currency exchange contracts.
Foreign currency exchange contracts are valued at the unrealized
appreciation/depreciation on the instrument.
3
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 15(d)-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 Healthcare Fund, Inc. By: /s/ Donald C. Burke Donald C. Burke Chief Executive Officer of BlackRock Healthcare Fund, Inc. Date: March 25, 2009 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Donald C. Burke Donald C. Burke Chief Executive Officer (principal executive officer) of BlackRock Healthcare Fund, Inc. Date: March 25, 2009 By: /s/ Neal J. Andrews Neal J. Andrews Chief Financial Officer (principal financial officer) of BlackRock Healthcare Fund, Inc. Date: March 25, 2009 |
EX-99. CERT CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Donald C. Burke, Chief Executive Officer (principal executive officer) of BlackRock Healthcare Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock Healthcare Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: March 25, 2009 /s/ Donald C. Burke Donald C. Burke Chief Executive Officer (principal executive officer) of BlackRock Healthcare Fund, Inc. |
EX-99. CERT CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock Healthcare Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock Healthcare Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: March 25, 2009 /s/ Neal J. Andrews Neal J. Andrews Chief Financial Officer (principal financial officer) of BlackRock Healthcare Fund, Inc. |