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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Blackrock Credit Allocation Income Trust Iii | NYSE:BPP | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.02 | 0.00 | 01:00:00 |
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 811-21280
Name of Fund: BlackRock Preferred Opportunity Trust (BPP)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Preferred Opportunity Trust,
800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 12/31/2007
Date of reporting period: 07/01/2007 09/30/2007
Item 1 Schedule of Investments
PORTFOLIO OF INVESTMENTS (unaudited)
SEPTEMBER 30, 2007
BlackRock Preferred Opportunity Trust (BPP)
(Percentages shown are based on Net Assets)
Shares
|
Description | Value | ||||
LONG-TERM INVESTMENTS151.4% | ||||||
Preferred Stocks42.4% | ||||||
Energy1.1% | ||||||
5,000 | Devon Energy Corp., Ser. A, 6.49% |
$
|
505,157 | |||
155,000 | Nexen, Inc., 7.35% | 3,802,351 | ||||
Total Energy | 4,307,508 | |||||
Financial Institutions32.0% | ||||||
298,400 | ACE Ltd., Ser. C, 7.80% | 7,590,550 | ||||
117,414 | Arch Capital Group Ltd., 8.00% | 3,019,747 | ||||
115,000 | 1 | Aspen Insurance Holdings Ltd., 7.401% | 2,748,500 | |||
30,000 | 2 | Banesto Holdings Ltd., Ser. A, 10.50% | 902,814 | |||
192,000 | Bank of America Corp., 6.625% | 4,809,600 | ||||
75,000 | Bear Stearns Co., Inc., Ser. E, 6.15% | 3,642,188 | ||||
60,000 | Chevy Chase Capital Corp., Ser. A, 10.375% | 3,135,000 | ||||
80,000 | Colonial Capital Trust IV, 7.875% | 1,980,000 | ||||
22,000 | Countrywide Capital IV, 6.75% | 421,300 | ||||
237,730 | Countrywide Capital V, 7.00% | 4,509,453 | ||||
Credit Suisse First Boston (SATURNS), | ||||||
11,100 | 6.25% | 255,078 | ||||
12,300 | 7.00% | 304,041 | ||||
172,400 | Endurance Specialty Holdings Ltd., 7.75% | 4,326,171 | ||||
30,000 | Everest RE Capital Trust, Ser. B, 6.20% | 641,250 | ||||
Federal Home Loan Mortgage Corp., | ||||||
192,000 | 6.55% | 4,812,000 | ||||
205,000 | 1 | Ser. Q, 5.16% | 9,340,312 | |||
15,200 | Financial Security Assurance Holdings Ltd., | |||||
5.60% | 297,616 | |||||
120,000 | First Republic Preferred Capital Corp., 7.25% | 2,891,256 | ||||
102,900 | Goldman Sachs Group, Inc. (The) (SATURNS), | |||||
6.00% | 2,284,380 | |||||
50,000 | HSBC Bank, Inc., 6.50% | 1,264,065 | ||||
76,700 | ING Groep N.V., 7.05% | 1,847,994 | ||||
100,000 | 2 | Indymac Bank FSB, 8.50% | 1,815,630 | |||
117,200 | KeyCorp Capital V, 5.875% | 2,513,940 | ||||
25,000 | KeyCorp Capital IX, 6.75% | 585,000 | ||||
100,000 | Kraft Foods, Inc. (CORTS), 5.875% | 2,254,000 | ||||
31,100 | Lehman Brothers Holdings, Inc., Ser. D, 5.67% | 1,442,263 | ||||
274,500 | MetLife, Inc., Ser. B, 6.50% | 6,828,187 | ||||
55,400 | National City Capital Trust II, 6.625% | 1,170,325 | ||||
40,000 | New York Community Capital Trust V, 6.00% | 1,990,000 | ||||
7,200 | News Holdings Ltd. (CORTS), 8.125% | 181,575 | ||||
18,400 | PLC Capital Trust IV, 7.25% | 453,676 | ||||
209,400 | PartnerRE Ltd., Ser. C, 6.75% | 4,860,174 | ||||
79,385 | Phoenix Cos., Inc., 7.45% | 1,925,086 | ||||
82,000 | Prudential Plc, 6.50% | 1,903,942 | ||||
235,000 | RenaissanceRe Holdings Ltd., Ser. D, 6.60% | 4,939,700 | ||||
30 4 | Roslyn Real Estate Asset Corp., Ser. C, 8.95% | 2,965,313 | ||||
Santander Finance Preferred S.A. Unipersonal | ||||||
398,000 | 2 | 6.50% | 9,191,332 | |||
140,000 | 2 | 7.05% | 3,241,882 | |||
103,439 | Structured Repackaged Asset-Backed Trust | |||||
Securities, 6.50% | 2,259,108 | |||||
60 | 2 | Union Planters Funding Corp., 7.75% | 6,553,125 | |||
11,100 | Valero Energy Corp. (PPLUS), 7.25% | 282,495 | ||||
83,600 | Wachovia Capital Trust IX, 6.375% | 1,925,417 | ||||
250,000 | Wachovia Funding Corp., Ser. A, 7.25% | 6,437,500 | ||||
2,000
|
1,2 | Zurich RegCaPS Funding Trust, 6.58% | 2,066,875 | |||
Total Financial Institutions | 128,809,860 | |||||
Media5.9% | ||||||
253,100 | AOL Time Warner, Inc. (CABCO), Ser. A-1, | |||||
7.625% | 6,418,616 |
Shares
|
Description
|
Value
|
|||||
|
Media (cont'd) | ||||||
|
Comcast Corp., | ||||||
110,000
|
2.00% | $ | 4,908,750 | ||||
470,000
|
6.625% | 11,026,200 | |||||
50,000
|
7.00% | 1,247,500 | |||||
|
Total Media | 23,601,066 | |||||
|
Real Estate3.4% | ||||||
160,800
|
Duke Realty Corp. (REIT), Ser. K, 6.50% | 3,607,950 | |||||
255,200
|
NB Capital Corp., 8.35% | 6,410,624 | |||||
20,000
|
PS Business Parks, Inc. (REIT), Ser. P, 6.70% | 428,750 | |||||
30
|
2 | SunTrust Real Estate Investment Corp. (REIT), | |||||
|
9.00% | 3,378,750 | |||||
|
Total Real Estate | 13,826,074 | |||||
|
Total Preferred Stocks | 170,544,508 | |||||
Principal
|
|||||||
Amount
|
|||||||
(000)
|
|||||||
|
Trust Preferred Stocks71.8% | ||||||
|
Building & Development0.5% | ||||||
$ |
1,945
|
1,2,3 | C8 Capital SPV Ltd., 6.64% | 1,890,462 | |||
|
Energy2.9% | ||||||
4,655
|
KN Capital Trust III, 7.63%, 4/15/28 | 4,166,444 | |||||
2,675
|
1 | PPL Capital Funding, Inc., Ser. A, 6.70%, | |||||
|
3/30/67 | 2,570,140 | |||||
925
|
1 | Puget Sound Energy, Inc., Ser. A, 6.974%, | |||||
|
6/01/67 | 924,581 | |||||
4,325
|
1 | Trans-Canada Pipelines Ltd., 6.35%, 5/15/67 | 4,150,893 | ||||
|
Total Energy | 11,812,058 | |||||
|
Financial Institutions67.1% | ||||||
4,500
4
|
AFC Capital Trust I, 8.207%, 2/03/27 | 4,359,339 | |||||
9,900
|
1,2,3 | AXA S.A., 6.379% | 8,926,177 | ||||
1,425
|
1,3 | Abbey National Capital Trust I, 8.963% | 1,739,257 | ||||
|
Allstate Corp., | ||||||
5,200
|
1 | 6.125%, 5/15/37 | 5,098,392 | ||||
6,350
|
1 | 6.50%, 5/15/57 | 6,117,273 | ||||
6,155
|
American Intl. Group, Inc., Ser. A1, 6.25%, | ||||||
|
3/15/37 | 5,794,674 | |||||
9,150
|
1 | BB&T Capital Trust IV, 6.82%, 6/12/77 | 8,846,485 | ||||
14,075
|
1,2,3,5 | BNP Paribas, 7.195% | 13,999,262 | ||||
4,015
|
1,2,3 | BOI Capital Funding No. 2 LP, 5.571% | 3,591,972 | ||||
4,275
|
1,2,3 | BOI Capital Funding No. 3, 6.107% | 3,817,968 | ||||
5,000
|
3,4 | BTA Finance Luxembourg S.A., 8.25% | 3,900,000 | ||||
|
Barclays Bank Plc | ||||||
8,185
|
1,2,3 | 5.926% | 7,765,576 | ||||
5,000
|
3 | 6.278% | 4,353,530 | ||||
2,600
|
1,2,3 | 7.434% | 2,762,965 | ||||
5,000
|
2,3 | CBA Capital Trust I, 5.805% | 4,837,750 | ||||
2,000
|
Capital One Capital III, 7.686%, 8/15/36 | 1,965,108 | |||||
9,025
|
1 | Chubb Corp., 6.375%, 3/29/67 | 8,971,762 | ||||
16,685
|
1,2,3 | Credit Agricole S.A., 6.637% | 15,676,024 | ||||
1,880
|
1,3 | Credit Suisse Ltd., 5.86% | 1,778,258 | ||||
1,740
|
1,2,3 | Deutsche Bank Capital Funding Trust VII, | |||||
|
5.628% | 1,616,631 | |||||
5,950
|
2 | Dresdner Funding Trust I, 8.151%, 6/30/31 | 6,453,620 | ||||
7,135
|
1 | Everest Reinsurance Holdings, Inc., 6.60%, | |||||
|
5/15/37 | 6,617,748 | |||||
1,100
|
FCB/NC Capital Trust I, 8.05%, 3/01/28 | 1,151,103 | |||||
1,215
|
1,3 | Goldman Sachs Capital II, 5.793% | 1,149,693 | ||||
4,135
|
2 | HVB Funding Trust I, 8.741%, 6/30/31 | 4,655,257 | ||||
1,925
|
1 | Huntington Capital III, 6.65%, 5/15/37 | 1,823,123 | ||||
3,000
|
1,2,3 | ICICI Bank Ltd., 7.25% | 2,805,684 | ||||
7,730
|
1 | JPMorgan Chase Capital XXI, Ser. U, 6.309%, | |||||
|
2/02/37 | 6,887,670 | |||||
3,670
|
1 | JPMorgan Chase Capital XXIII, 6.558%, | |||||
|
5/15/47 | 3,225,846 |
1
BlackRock Preferred Opportunity Trust (BPP) (continued)
(
Percentages shown are based on Net Assets)
Principal
|
|||||||
Amount
|
|||||||
(000)
|
Description
|
Value
|
|||||
|
Financial Institutions (cont'd) | ||||||
$ |
5,025
|
1,2 | Liberty Mutual Group, Inc., Ser. B, 7.00%, | ||||
|
3/15/37 | $ | 4,687,169 | ||||
2,500
|
1 | Lincoln National Corp., 6.05%, 4/20/67 | 2,407,230 | ||||
5,000
|
1,2 | Mangrove Bay Pass-Through Trust, 6.102%, | |||||
|
7/15/33 | 4,638,550 | |||||
2,000
|
3 | NBP Capital Trust III, 7.375% | 1,945,000 | ||||
7,725
|
Nationwide Financial Services, 6.75%, 5/15/37 | 7,448,831 | |||||
5,775
|
1 | Progressive Corp., 6.70%, 6/15/37 | 5,602,818 | ||||
4,250
|
1,2,3 | QBE Capital Funding II LP, 6.797% | 4,167,401 | ||||
4,655
|
3 | RBS Capital Trust, Ser. B, 6.80% | 4,447,387 | ||||
10,960
|
1,2,3 | Resona Preferred Global Securities Ltd., | |||||
|
7.191% | 10,998,590 | |||||
|
Royal Bank of Scotland Group Plc, | ||||||
1,960
|
1,3 | 7.648% | 2,050,695 | ||||
3,725
|
1,3 | Ser. MTN, 7.64% | 3,899,889 | ||||
10,575
|
1,2,3 | Societe Generale, 5.922% | 10,017,698 | ||||
6,725
|
1 | State Street Capital Trust IV, 6.694%, 6/15/37 | 6,086,112 | ||||
6,800
|
1,2,3 | Standard Chartered Plc, 7.014% | 6,455,254 | ||||
2,050
|
1 | SunTrust Preferred Capital I, 5.853%, 12/15/11 | 2,011,513 | ||||
9,425
|
1,2,3 | Swiss Re Capital I LP, 6.854% | 9,500,409 | ||||
11,350
|
1 | Travelers Cos., Inc., 6.25%, 3/15/67 | 10,973,804 | ||||
1,925
|
1 | Webster Capital Trust IV, 7.65%, 6/15/37 | 1,943,215 | ||||
3,000
|
1,2,3 | Westpac Capital Trust IV, 5.256% | 2,610,030 | ||||
2,600
|
1,2,3 | White Mountains RE Group Ltd., 7.506% | 2,450,380 | ||||
4,225
|
1,2 | Woori Bank, 6.208%, 5/02/67 | 3,984,576 | ||||
2,850
|
1,3 | XL Capital Ltd., Ser. E, 6.50% | 2,661,977 | ||||
8,765
|
1,2 | ZFS Finance Trust I, 6.50%, 5/09/37 | 8,474,011 | ||||
|
Total Financial Institutions | 270,150,686 | |||||
|
Real Estate1.1% | ||||||
3,180
|
2,3 | Sovereign Real Estate Investment Corp. | |||||
|
(REIT), 12.00% | 4,585,560 | |||||
|
Technology0.2% | ||||||
787
|
6 | Superior Essex Holding Corp., Ser. A, 9.50%, | |||||
|
11/10/13 | 629,861 | |||||
|
Total Trust Preferred Stocks | 289,068,627 | |||||
|
Corporate Bonds37.2% | ||||||
|
Aerospace & Defense0.5% | ||||||
200
|
2 | Bombardier, Inc., 8.00%, 11/15/14 (Canada) | 209,500 | ||||
1,480
|
DI Finance/DynCorp Intl., Ser. B, 9.50%, | ||||||
|
2/15/13 | 1,531,800 | |||||
160
|
TransDigm, Inc., 7.75%, 7/15/14 | 161,600 | |||||
|
Total Aerospace & Defense | 1,902,900 | |||||
|
Automotive0.2% | ||||||
|
AutoNation, Inc., | ||||||
190
|
7.00%, 4/15/14 | 181,450 | |||||
190
|
1 | 7.36%, 4/15/13 | 181,450 | ||||
350
|
Lear Corp., Ser. B, 8.75%, 12/01/16 | 329,000 | |||||
125
|
Metaldyne Corp., 11.00%, 11/01/13 | 118,750 | |||||
|
Total Automotive | 810,650 | |||||
|
Basic Materials1.6% | ||||||
940
|
AK Steel Corp., 7.75%, 6/15/12 | 951,750 | |||||
200
|
American Pacific Corp., 9.00%, 2/01/15 | 205,000 | |||||
260
|
CPG Intl. I, Inc., 10.50%, 7/01/13 | 260,000 | |||||
30
|
Chemtura Corp., 6.875%, 6/01/16 | 28,500 | |||||
80
|
Domtar, Inc., 7.125%, 8/15/15 (Canada) | 76,800 | |||||
|
Freeport-McMoRan Copper & Gold, Inc., | ||||||
1,450
|
8.375%, 4/01/17 | 1,584,125 | |||||
200
|
1 | 8.394%, 4/01/15 | 207,750 | ||||
1,730
|
2 | Ineos Group Holdings Plc, 8.50%, 2/15/16 | |||||
|
(United Kingdom) | 1,656,475 | |||||
630
|
2 | Key Plastics LLC/Key Plastics Finance Corp., | |||||
|
11.75%, 3/15/13 | 551,250 | |||||
350
|
NewPage Corp., 10.00%, 5/01/12 | 368,375 | |||||
470
|
1 | NOVA Chemicals Corp., 8.484%, 11/15/13 | |||||
|
(Canada) | 460,600 |
Principal
|
|||||||
Amount
|
|||||||
(000)
|
Description
|
Value
|
|||||
Basic Materials (cont'd) | |||||||
$ | 205 | Terra Capital, Inc., Ser. B, 7.00%, 2/01/17 | $ | 199,875 | |||
35 | Verso Paper Holdings LLC/Verson Paper, Inc., | ||||||
Ser. B, 11.375%, 8/01/16 | 36,837 | ||||||
Total Basic Materials | 6,587,337 | ||||||
Building & Development0.1% | |||||||
495 | Goodman Global Holding Co., Inc., 7.875%, | ||||||
12/15/12 | 486,338 | ||||||
Commercial Services0.1% | |||||||
100 | FTI Consulting, Inc., 7.75%, 10/01/16 | 103,500 | |||||
235 | 2 | Quebecor World, Inc., 9.75%, 1/15/15 (Canada) | 225,013 | ||||
Total Commercial Services | 328,513 | ||||||
Consumer Products0.8% | |||||||
30 | 1 | Avis Budget Car Rental LLC/Avis Budget | |||||
Finance, Inc., 8.058%, 5/15/14 | 29,250 | ||||||
1,223 | Lazy Days RV Center, Inc., 11.75%, 5/15/12 | 1,106,815 | |||||
610 | 2 | Michaels Stores, Inc., 10.00%, 11/01/14 | 625,250 | ||||
300 | Quiksilver, Inc., 6.875%, 4/15/15 | 287,250 | |||||
965 | Reynolds American, Inc., 7.25%, 6/15/37 | 1,008,787 | |||||
Total Consumer Products | 3,057,352 | ||||||
Containers & Packaging0.3% | |||||||
Berry Plastics Holding Corp., | |||||||
340 | 8.875%, 9/15/14 | 347,650 | |||||
195 | 1 | 9.569%, 9/15/14 | 196,950 | ||||
385 | Crown Americas LLC/Crown Americas Capital | ||||||
Corp., 7.75%, 11/15/15 | 397,512 | ||||||
240
|
1,2 | Impress Holdings BV, 8.485%, 9/15/13 | |||||
(Netherlands) | 238,592 | ||||||
Total Containers & Packaging | 1,180,704 | ||||||
Energy3.2% | |||||||
3,000 | AES Corp., 8.875%, 2/15/11 | 3,131,250 | |||||
180 | Berry Petroleum Co., 8.25%, 11/01/16 | 181,800 | |||||
3,750 | CMS Energy Corp., 6.55%, 7/17/17 | 3,636,750 | |||||
220 | Chaparral Energy, Inc., 8.50%, 12/01/15 | 206,250 | |||||
30 | Chesapeake Energy Corp., 6.875%, 11/15/20 | 29,362 | |||||
70 | Compagnie Generale de Geophysique-Veritas, | ||||||
7.50%, 5/15/15 (France) | 72,100 | ||||||
200 | Compton Petroleum Finance Corp., 7.625%, | ||||||
12/01/13 (Canada) | 193,000 | ||||||
175 | Edison Mission Energy, 7.50%, 6/15/13 | 179,375 | |||||
75 | Exco Resources, Inc., 7.25%, 1/15/11 | 74,625 | |||||
100 | Grant Prideco, Inc., Ser. B, 6.125%, 8/15/15 | 97,000 | |||||
50 | KCS Energy, Inc., 7.125%, 4/01/12 | 48,500 | |||||
17 | Midwest Generation LLC, Ser. B, 8.56%, | ||||||
1/02/16 | 17,865 | ||||||
75 | Mirant Americas Generation LLC, 8.30%, | ||||||
5/01/11 | 75,750 | ||||||
550 | 2 | OPTI, Inc., 8.25%, 12/15/14 (Canada) | 554,125 | ||||
2,950 | Orion Power Holdings, Inc., 12.00%, 5/01/10 | 3,230,250 | |||||
350 | Sabine Pass LNG LP, 7.50%, 11/30/16 | 344,750 | |||||
350 | 2 | SemGroup LP, 8.75%, 11/15/15 | 342,125 | ||||
420 | 2 | Targa Resources, Inc., 8.50%, 11/01/13 | 420,000 | ||||
55 | Whiting Petroleum Corp., 7.25%, 5/01/13 | 53,625 | |||||
Total Energy | 12,888,502 | ||||||
Entertainment & Leisure0.2% | |||||||
385 | 2 | Greektown Holdings LLC, 10.75%, 12/01/13 | 381,150 | ||||
275 | Travelport LLC, 9.875%, 9/01/14 | 280,500 | |||||
40 | Wynn Las Vegas LLC/Wynn Las Vegas Capital | ||||||
Corp., 6.625%, 12/01/14 | 39,200 | ||||||
Total Entertainment & Leisure | 700,850 |
2
BlackRock Preferred Opportunity Trust (BPP) (continued)
(
Percentages shown are based on Net Assets)
Principal
|
|||||||
Amount
|
|||||||
(000)
|
Description
|
Value
|
|||||
Financial Institutions24.6% | |||||||
$ | 5,000 | 1 | American Express Co., 6.80%, 9/01/66 | $ | 5,123,970 | ||
9,605 | 2 | American General Institute Capital, 7.57%, | |||||
12/01/45 | 10,695,120 | ||||||
415 | American Real Estate Partners LP/American | ||||||
Real Estate Finance Corp., 7.125%, 2/15/13 | 395,288 | ||||||
Bear Stearns Cos., Inc. (The), | |||||||
1,850 | 6.40%, 10/02/17 | 1,832,720 | |||||
2,000 | Ser. MTN, 6.95%, 8/10/12 | 2,085,234 | |||||
1,860 | 1 | CIT Group, Inc., 5.734%, 11/23/07 | 1,849,560 | ||||
1,475 | 1 | Genworth Financial, Inc., 6.15%, 11/15/66 | 1,379,256 | ||||
11,125 | JPMorgan Chase Capital XXV, 6.80%, | ||||||
10/01/37 | 11,141,943 | ||||||
9,000 | Kingsway America, Inc., 7.50%, 2/01/14 | 9,173,637 | |||||
Lehman Brothers Holdings, Inc., | |||||||
3,875 | 6.875%, 7/17/37 | 3,843,895 | |||||
650 | 1 | Ser. MTN, 7.394%, 9/15/22 | 647,507 | ||||
3,370 | 1 | Lincoln National Corp., 7.00%, 5/17/66 | 3,473,051 | ||||
7,399 | 3 | Lloyds Bank Ltd., 6.90% (United Kingdom) | 7,329,450 | ||||
7,900 | MetLife, Inc., 6.40%, 12/15/36 | 7,511,723 | |||||
495 | 2 | Momentive Performance Materials, Inc., | |||||
10.125%, 12/01/14 | 487,575 | ||||||
2,850 | 1 | PartnerRe Finance II, 6.44%, 12/01/66 | 2,637,983 | ||||
6,000 | 3 | Prudential Plc, 6.50% (United Kingdom) | 5,640,000 | ||||
1,300 | 1 | Reinsurance Group of America, Inc., 6.75%, | |||||
12/15/65 | 1,231,084 | ||||||
4,000 | 3 | Resparcs Funding Ltd., 8.00% (Hong Kong) | 3,787,080 | ||||
Skandinaviska
Enskilda Banken AB (Sweden)
|
|||||||
3,185
|
1,2,3 | 4.958% | 2,887,951 | ||||
5,000
|
1,2,3 | 5.471% | 4,607,490 | ||||
10,000
|
1,2,3 | Sumitomo Mitsui Banking Corp., 5.625% | |||||
(Japan) | 9,305,330 | ||||||
60 | 1 | Universal City Florida Holding Co. I/II, | |||||
10.106%, 5/01/10 | 60,600 | ||||||
1,800
|
2,4 | Zenith National Insurance Capital Trust I, | |||||
8.55%, 8/01/28 | 1,768,500 | ||||||
Total Financial Institutions | 98,895,947 | ||||||
Industrials0.1% | |||||||
460 | 2 | AGY Holding Corp., 11.00%, 11/15/14 | 458,850 | ||||
170 | Hexcel Corp., 6.75%, 2/01/15 | 167,875 | |||||
Total Industrials | 626,725 | ||||||
Media2.0% | |||||||
Affinion Group, Inc., | |||||||
475 | 10.125%, 10/15/13 | 501,125 | |||||
230 | 11.50%, 10/15/15 | 241,500 | |||||
110 | CMP Susquehanna Corp., 9.875%, 5/15/14 | 102,300 | |||||
230 | 1 | Cablevision Systems Corp., Ser. B, 9.644%, | |||||
4/01/09 | 236,900 | ||||||
2,050 | Dex Media West LLC/Dex Media Finance Co., | ||||||
Ser. B, 9.875%, 8/15/13 | 2,180,687 | ||||||
175 | DirecTV Holdings LLC/DirecTV Financing | ||||||
Co., 8.375%, 3/15/13 | 181,781 | ||||||
EchoStar DBS Corp., | |||||||
200 | 5.75%, 10/01/08 | 200,000 | |||||
360 | 7.00%, 10/01/13 | 368,100 | |||||
75 | 7.125%, 2/01/16 | 77,063 | |||||
350
|
1,2 | ION Media Networks, Inc., 8.61%, 1/15/12 | 348,250 | ||||
725 | Idearc, Inc., 8.00%, 11/15/16 | 723,188 | |||||
260 | Network Communications, Inc., 10.75%, | ||||||
12/01/13 | 260,975 | ||||||
330 | Nexstar Finance, Inc., 7.00%, 1/15/14 | 316,800 | |||||
1,195 | Nielsen Finance LLC/Nielsen Finance Co., | ||||||
10.00%, 8/01/14 | 1,263,712 | ||||||
240 | R.H. Donnelley Corp., Ser. A-3, 8.875%, | ||||||
1/15/16 | 244,500 |
Principal
|
|||||||
Amount
|
|||||||
(000)
|
Description
|
Value
|
|||||
Media (cont'd) | |||||||
$ | 650 | Vertis, Inc., 9.75%, 4/01/09 |
$
|
659,750 | |||
Total Media | 7,906,631 | ||||||
Real Estate0.4% | |||||||
2,000 | Rouse Co., 5.375%, 11/26/13 | 1,795,420 | |||||
Technology0.8% | |||||||
210 | Celestica, Inc., 7.625%, 7/01/13 (Canada) | 195,300 | |||||
Freescale Semiconductor, Inc., | |||||||
810 | 9.125%, 12/15/14 | 749,250 | |||||
180 | 1 | 9.569%, 12/15/14 | 169,650 | ||||
595 | NXP BV/NXP Funding LLC, 9.50%, 10/15/15 | ||||||
(Netherlands) | 554,837 | ||||||
685 | Sanmina-SCI Corp., 8.125%, 3/01/16 | 592,525 | |||||
SunGard Data Systems, Inc., | |||||||
100 | 9.125%, 8/15/13 | 104,000 | |||||
370 | 10.25%, 8/15/15 | 386,650 | |||||
425 | Superior Essex Communications LLC/Essex | ||||||
Group, Inc., 9.00%, 4/15/12 | 419,688 | ||||||
Total Technology | 3,171,900 | ||||||
Telecommunications2.1% | |||||||
290 | Cincinnati Bell, Inc., 7.25%, 7/15/13 | 292,175 | |||||
190 | 1 | Hawaiian Telcom Communications, Inc., Ser. | |||||
B, 10.86%, 5/01/13 | 192,375 | ||||||
590 | Intelsat Corp., 9.00%, 6/15/16 | 607,700 | |||||
Intelsat Ltd. (Bermuda) | |||||||
500 | 9.25%, 6/15/16 | 518,750 | |||||
165 | 11.25%, 6/15/16 | 176,756 | |||||
670 | 1 | 11.409%, 6/15/13 | 700,150 | ||||
230 | Intelsat Subsidiary Holding Co. Ltd., 8.625%, | ||||||
1/15/15 (Bermuda) | 234,600 | ||||||
845 | 2 | Nordic Telephone Co. Holdings A.p.S., | |||||
8.875%, 5/01/16 (Denmark) | 891,475 | ||||||
125 | PanAmSat Corp., 9.00%, 8/15/14 | 128,750 | |||||
Qwest Corp., | |||||||
1,845 | 7.875%, 9/01/11 | 1,937,250 | |||||
460 | 1 | 8.944%, 6/15/13 | 491,050 | ||||
735 | West Corp., 11.00%, 10/15/16 | 771,750 | |||||
420 | 2 | Wind Acquisition Finance S.A., 10.75%, | |||||
12/01/15 (Luxembourg) | 465,150 | ||||||
Windstream Corp., | |||||||
640 | 8.125%, 8/01/13 | 673,600 | |||||
365 | 8.625%, 8/01/16 | 389,181 | |||||
Total Telecommunications | 8,470,712 | ||||||
Transportation0.3% | |||||||
140 | Britannia Bulk Plc, 11.00%, 12/01/11 (United | ||||||
Kingdom) | 142,100 | ||||||
90 | CHC Helicopter Corp., 7.375%, 5/01/14 | ||||||
(Canada) | 85,500 | ||||||
650 | Navios Maritime Holdings, Inc., 9.50%, | ||||||
12/15/14 (Marshall Islands) | 670,313 | ||||||
Total Transportation | 897,913 | ||||||
Total Corporate Bonds | 149,708,394 | ||||||
Total Long-Term Investments | |||||||
(cost $630,905,049) | 609,321,529 | ||||||
SHORT-TERM INVESTMENTS2.9% | |||||||
U.S. Government
and Agency Securities2.9%
|
|||||||
10,772 | U.S. Treasury Bonds, 4.10%, 10/02/07 | 10,772,063 | |||||
976 | U.S. Treasury Notes, 3.70%, 10/01/07 | 975,600 | |||||
Total Short-Term Investments | |||||||
(cost $11,747,663) | 11,747,663 | ||||||
Total Investments before Investments sold short (cost | |||||||
$642,652,712 7 ) | 621,069,192 |
3
BlackRock Preferred Opportunity Trust (BPP) (continued)
(
Percentages shown are based on Net Assets)
Principal | |||||||
Amount | |||||||
(000) |
Description
|
Value | |||||
INVESTMENTS SOLD SHORT(3.0)% | |||||||
$
|
(10,950)
|
U.S. Treasury Bonds, 4.75%, 2/15/37 | $ | (10,798,584 |
)
|
||
(1,445)
|
U.S. Treasury Notes, 4.75%, 8/15/17 | (1,464,417 |
)
|
||||
Total Investments Sold Short | |||||||
(proceeds $12,167,912) | (12,263,001 |
)
|
|||||
Total Investments net of investments sold short 151.3 % | $ | 608,806,191 | |||||
Other assets in excess of liabilities3.6% |
14,522,958
|
||||||
Preferred shares at redemption value, including dividends | |||||||
payable (54.9)% | (220,938,632 |
)
|
|||||
Net Assets Applicable to Common Shareholders100% | $ | 402,390,517 |
|
|
|
|
1 |
Variable rate security. Rate shown is interest rate as of September 30, 2007. |
2 |
Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of September 30, 2007, the Trust held 53.6% of its net assets, with a current market value of $215,638,555, in securities restricted as to resale. |
3 |
The security is a perpetual bond and has no stated maturity date. |
4 |
Illiquid security. As of report date, the Trust held 3.2% of its net assets, with a current market value of $12,993,152, in these securities. |
5 |
Security, or a portion thereof, pledged as collateral with a value of $5,140,070 on 2 short U.S. Treasury Bond futures contracts and 4,436 short U.S. Treasury Note futures contracts, both expiring December 2007. The notional value of such contracts on September 30, 2007 was $482,369,880, with an unrealized loss of $2,624,433. |
6 |
Security is fair valued. |
7 |
Cost for federal income tax purposes is $642,680,540. The net unrealized depreciation on a tax basis is $21,611,348, consisting of $6,621,422 gross unrealized appreciation and $28,232,770 gross unrealized depreciation. |
For Trust compliance purposes, the Trust's sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease. |
|
KEY TO ABBREVIATIONS | ||
CABCO
|
Corporate Asset Backed
Corp.
|
|
CORTS
|
Corporate Backed Trust Securities
|
|
PPLUS
|
Preferred
Plus
|
|
REIT
|
Real Estate Investment
Trust
|
|
SATURNS
|
Structured Asset Trust
Unit Repackagings
|
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 and 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 Preferred Opportunity Trust |
||
By: | /s/ Donald C. Burke | |
Donald C. Burke,
President & Chief Executive Officer of |
||
BlackRock Preferred Opportunity Trust | ||
Date: | November 20, 2007 | |
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, | ||
President & Chief Executive Officer (principal executive officer) of | ||
BlackRock Preferred Opportunity Trust | ||
Date: | November 20, 2007 | |
By: | /s/ Neal J. Andrews | |
Neal J. Andrews, | ||
Chief Financial Officer (principal financial officer) of | ||
BlackRock Preferred Opportunity Trust | ||
Date: | November 20, 2007 |
1 Year Blackrock Credit Allocation Income Trust Iii Chart |
1 Month Blackrock Credit Allocation Income Trust Iii Chart |
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