N-Q 1 final.htm EUROFUND eurofund -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

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 811-04612

Name of Fund: BlackRock EuroFund

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock
EuroFund, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box
9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 441-7762

Date of fiscal year end: 10/31/2008

Date of reporting period: 11/01/2007 – 01/31/2008

Item 1 – Schedule of Investments


BlackRock EuroFund             
Schedule of Investments as of January 31, 2008 (Unaudited)            (in U.S. dollars) 

 
 
 
        Shares         
    Industry    Held Common Stocks                   Value 

 
 
 
Denmark - 1.4%    Commercial Banks - 1.4%    332,268    Danske Bank A/S    $ 11,939,571 
   
 
 
 
            Total Common Stocks in Denmark    11,939,571 

 
 
 
 
Finland - 0.5%    Electric Utilities - 0.5%    109,666    Fortum Oyj    4,445,842 
   
 
 
 
            Total Common Stocks in Finland    4,445,842 

 
 
 
 
France - 11.9%    Automobiles - 1.7%    131,250    Renault SA    14,980,434 
   
 
 
 
    Commercial Banks - 1.6%    111,578    Societe Generale SA    14,015,602 
   
 
 
 
    Electric Utilities - 2.2%    178,607    Electricite de France SA    18,627,948 
   
 
 
 
    Insurance - 1.3%    321,045    AXA SA    11,027,064 
   
 
 
 
    Machinery - 1.3%    53,757    Vallourec SA    10,804,683 
   
 
 
 
    Metals & Mining - 0.6%    77,744    ArcelorMittal    5,159,304 
   
 
 
 
    Oil, Gas & Consumable Fuels - 3.2%    383,906    Total SA    27,940,101 
   
 
 
 
            Total Common Stocks in France    102,555,136 

 
 
 
 
Germany - 18.9%    Air Freight & Logistics - 2.1%    568,338    Deutsche Post AG    18,336,938 
   
 
 
 
    Automobiles - 3.5%    248,540    Bayerische Motoren Werke AG    13,648,221 
        208,162    DaimlerChrysler AG    16,278,150 
               
                29,926,371 
   
 
 
 
    Chemicals - 2.5%    265,730    Bayer AG    21,802,973 
   
 
 
 
    Diversified Telecommunication Services - 2.1%    865,334    Deutsche Telekom AG    17,725,299 
   
 
 
 
    Electric Utilities - 2.6%    120,827    E.ON AG    22,251,144 
   
 
 
 
    Industrial Conglomerates - 2.7%    178,394    Siemens AG    22,995,197 
   
 
 
 
    Insurance - 1.9%    91,587    Allianz AG Registered Shares    16,323,807 
   
 
 
 
    Multi-Utilities - 1.5%    107,290    RWE AG    13,170,516 
   
 
 
 
            Total Common Stocks in Germany    162,532,245 

 
 
 
 
Ireland - 3.1%    Commercial Banks - 1.3%    500,799    Allied Irish Banks Plc    11,065,076 
   
 
 
 
    Construction Materials - 1.8%    410,330    CRH Plc    15,562,686 
   
 
 
 
            Total Common Stocks in Ireland    26,627,762 

 
 
 
 
Italy - 8.6%    Commercial Banks - 4.0%    2,574,529    Banca Intesa SpA    18,324,372 
        2,145,763    Unicredit SpA    15,844,547 
               
                34,168,919 
   
 
 
 
    Diversified Telecommunication Services - 2.0%    5,691,989    Telecom Italia SpA    17,288,818 
   
 
 
 
    Oil, Gas & Consumable Fuels - 2.6%    707,320    Eni SpA    22,869,433 
   
 
 
 
            Total Common Stocks in Italy    74,327,170 

 
 
 
 
Luxembourg - 1.5%    Metals & Mining - 1.5%    191,071    ArcelorMittal    12,515,927 
   
 
 
 
            Total Common Stocks in Luxembourg    12,515,927 

 
 
 
 
Netherlands - 4.3%    Chemicals - 2.4%    286,525    Akzo Nobel NV    21,196,793 
   
 
 
 
    Diversified Financial Services - 1.9%    720,684    Fortis    16,118,317 
   
 
 
 
            Total Common Stocks in the Netherlands    37,315,110 

 
 
 
 

1


BlackRock EuroFund             
Schedule of Investments as of January 31, 2008 (Unaudited)            (in U.S. dollars) 

 
 
 
        Shares         
    Industry    Held Common Stocks                   Value 

 
 
 
Norway - 0.9%    Oil, Gas & Consumable Fuels - 0.9%    279,056    Statoilhydro ASA    $ 7,347,870 
   
 
 
 
            Total Common Stocks in Norway    7,347,870 

 
 
 
 
Spain - 2.6%    Commercial Banks - 2.6%    1,293,139    Banco Santander SA    22,743,313 
   
 
 
 
            Total Common Stocks in Spain    22,743,313 

 
 
 
 
Switzerland - 16.2%    Capital Markets - 3.1%    273,309    Credit Suisse Group    15,561,518 
        269,679    UBS AG    11,203,507 
               
                26,765,025 
   
 
 
 
    Diversified Telecommunication Services - 1.9%    40,606    Swisscom AG    16,209,659 
   
 
 
 
    Food Products - 4.5%    85,324    Nestle SA Registered Shares    38,199,144 
   
 
 
 
    Insurance - 3.6%    170,730    Swiss Reinsurance Co. Registered Shares    12,827,850 
        63,581    Zurich Financial Services AG    18,205,240 
               
                31,033,090 
   
 
 
 
    Pharmaceuticals - 3.1%    527,402    Novartis AG Registered Shares    26,719,939 
   
 
 
 
            Total Common Stocks in Switzerland    138,926,857 

 
 
 
 
United Kingdom -    Aerospace & Defense - 2.2%    2,037,878    BAE Systems Plc    18,984,177 
   
 
 
 
26.5%    Commercial Banks - 2.6%    972,186    Barclays Plc    9,177,085 
        927,485    HBOS Plc    12,923,617 
               
                22,100,702 
   
 
 
 
    Food Products - 3.2%    834,005    Unilever Plc    27,491,988 
   
 
 
 
    Insurance - 1.3%    851,744    Prudential Plc    10,919,081 
   
 
 
 
    Metals & Mining - 2.5%    387,783    Anglo American Plc    21,427,255 
   
 
 
 
    Oil, Gas & Consumable Fuels - 6.9%    2,664,399    BP Plc    28,397,134 
        895,724    Royal Dutch Shell Plc Class B    31,127,218 
               
                59,524,352 
   
 
 
 
    Pharmaceuticals - 1.1%    377,095    GlaxoSmithKline Plc    8,937,319 
   
 
 
 
    Tobacco - 2.6%    630,049    British American Tobacco Plc    22,569,975 
   
 
 
 
    Wireless Telecommunication Services - 4.1%    10,163,685    Vodafone Group Plc    35,555,186 
   
 
 
 
            Total Common Stocks in the     
            United Kingdom    227,510,035 

 
 
 
 
            Total Common Stocks     
            (Cost - $719,678,019) - 96.4%    828,786,838 

 
 
 
 
        Beneficial         
        Interest    Short-Term Securities     

 
 
 
 
United States - 0.6%        $ 5,452,837    BlackRock Liquidity Series, LLC     
            Cash Sweep Series, 4.49% (a)(b)    5,452,837 
   
 
 
 
            Total Short-Term Securities     
            (Cost - $5,452,837) - 0.6%    5,452,837 

 
 
 
 

2


BlackRock EuroFund         
Schedule of Investments as of January 31, 2008 (Unaudited)        (in U.S. dollars) 

 
 
        Value 

 
 
    Total Investments (Cost - $725,130,856*) - 97.0%    $ 834,239,675 
    Other Assets Less Liabilities - 3.0%    25,709,457 
       
    Net Assets - 100.0%    $ 859,949,132 
       

  * The cost and unrealized appreciation (depreciation) of investments as of January 31,
2008, as computed for federal income tax purposes, were as follows:

Aggregate cost    $ 736,013,995 
   
Gross unrealized appreciation    $ 140,409,542 
Gross unrealized depreciation    (42,183,862) 
   
Net unrealized appreciation    $ 98,225,680 
   

(a)      Represents the current yield as of January 31, 2008.
 
(b)      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    Interest 
Affiliate    Activity    Income 

 
 
BlackRock Liquidity Series, LLC Cash Sweep Series    $ (16,389,163)    $ 209,026 

 
 

  • 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 the purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percent of net assets.
  • Forward foreign exchange contracts as of January 31, 2008 were as follows:
 Foreign        Foreign    Settlement    Unrealized 
 Currency Purchased    Currency Sold    Date    Depreciation 

 
 
 
 USD    2,030,237    CHF    2,199,964    2/05/2008    $ (5,636) 

 
 
 
 
 
 Total Unrealized Depreciation on Forward Foreign Exchange        $ (5,636) 
       
Currency Abbreviations:                 
 CHF    Swiss Franc                 
 USD    U.S. Dollar                 

3


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 15d-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 EuroFund

By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock EuroFund

Date: March 24, 2008

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 EuroFund

Date: March 24, 2008

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock EuroFund

Date: March 24, 2008