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: | 811-07664 | |
| The BlackRock California Investment Quality Municipal Trust Inc. | ||
| (Exact name of registrant as specified in charter) | ||
| 100 Bellevue Parkway, Wilmington, DE | 19809 | |
| (Address of principal executive offices) | (Zip code) | |
| Robert S. Kapito, President | ||
| The BlackRock California Investment Quality Municipal Trust Inc. | ||
| 40 East 52nd Street, New York, NY 10022 | ||
| (Name and address of agent for service) | ||
| Registrant's telephone number, including area code: | 888-825-2257 | |
| Date of fiscal year end: | October 31, 2004 | |
| Date of reporting period: | July 31, 2004 | |
Item 1. Schedule of Investments
The Trust's schedule of investments pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:PORTFOLIO OF INVESTMENTS (unaudited)
JULY 31, 2004
BlackRock California Investment Quality Municipal Trust (RAA)
| Principal | ||||||||||
| Amount | Option Call | |||||||||
| Rating1 | (000) | Description | Provisions2 | Value | ||||||
| LONG-TERM INVESTMENTS—128.7% | ||||||||||
| California—120.9% | ||||||||||
| California, GO, | ||||||||||
| A3 | $ 960 | 3,4 | 5.75%, 3/01/05 | N/A | $ 994,646 | |||||
| A3 | 40 | 5.75%, 3/01/19 | 03/05 @ 101 | 41,094 | ||||||
| BBB | 1,000 | California Cnty. Tobacco Sec. Agcy., Ser. B, 6.00%, 6/01/29 | 06/12 @ 100 | 865,910 | ||||||
| California Edl. Facs. Auth., MBIA, | ||||||||||
| AAA | 760 | 3 | Santa Clara Univ., 5.00%, 9/01/06 | N/A | 823,787 | |||||
| AAA | 835 | Student Loan Prog., Ser. A, 6.00%, 3/01/16 | 03/07 @ 102 | 876,441 | ||||||
| California Pub. Wks. Brd., Lease Rev., Ser. A, | ||||||||||
| Aaa | 1,000 | 3 | Dept. of Corrections., 6.875%, 11/01/04 | N/A | 1,033,690 | |||||
| A3 | 1,000 | St. Univ. Proj., 6.10%, 10/01/06 | 10/04 @ 102 | 1,026,950 | ||||||
| Golden St. Tobacco Sec. Corp., Ser. B, | ||||||||||
| Baa1 | 600 | 5.50%, 6/01/43 | 06/13 @ 100 | 600,864 | ||||||
| Baa1 | 400 | 5.625%, 6/01/38 | 06/13 @ 100 | 404,040 | ||||||
| Los Angeles Cnty., | ||||||||||
| AAA | 1,000 | Cmnty. Facs. Spec. Tax, Ser. A, 5.50%, 9/01/14, FSA | 09/07 @ 102 | 1,097,360 | ||||||
| AAA | 1,000 | 3 | Met. Trans. Auth. Sales Tax Rev., 6.00%, 7/01/06, MBIA | N/A | 1,090,270 | |||||
| Aa3 | 1,000 | 3 | Los Angeles Cnty. Pub. Wks. Fin. Auth., Regl. Park & Open Space, Dist. A, | |||||||
| 6.00%, 10/01/04 | N/A | 1,027,670 | ||||||||
| AA | 1,150 | Los Angeles Harbor Dept., Ser. B, 6.00%, 8/01/13 | 08/06 @ 101 | 1,238,665 | ||||||
| B- | 945 | Los Angeles Regl. Arpt. Impvt., Corp. Lease Rev., Amer. Airlines Inc., Ser. B, | ||||||||
| 7.50%, 12/01/24 | 12/12 @ 102 | 803,297 | ||||||||
| NR | 1,000 | Poway Unified Sch. Dist., Spl. Tax Rev., Cmnty. Facs. Dist. No. 6, 5.60%, 9/01/33 |
09/10 @ 102 | 966,560 | ||||||
| BBB+ | 1,000 | Sacramento Pwr. Auth., Cogeneration Proj. Rev., 6.50%, 7/01/09 | 07/06 @ 102 | 1,075,530 | ||||||
| NR | 1,000 | San Bernardino Cnty., Spl. Tax Rev., Cmnty. Facs., 5.90%, 9/01/33 | 09/12 @ 102 | 970,230 | ||||||
| AAA | 500 | San Diego Ind. Dev., Ser. A, 5.90%, 6/01/18, AMBAC | 08/04 @ 101 | 507,145 | ||||||
| AAA | 150 | San Francisco City & Cnty. Arpt. Comm., Intl. Arpt. Rev., Ser. 12-A, 5.90%, 5/01/26, MBIA |
05/06 @ 101 | 158,533 | ||||||
| AAA | 40 | So. California Pub. Pwr. Auth., Transm. Proj. Rev., 5.50%, 7/01/20, MBIA | 08/04 @ 100 | 40,096 | ||||||
| AAA | 500 | Temecula Valley Unified Sch. Dist., GO, Ser. G, 5.75%, 8/01/25, FGIC | 08/07 @ 102 | 537,735 | ||||||
| BBB | 900 | Tobacco Sec. Auth. So. California, Tobacco Settlement Rev., Ser. A, 5.625%, 6/01/43 |
06/12 @ 100 | 679,563 | ||||||
| AAA | 370 | West Basin Mun. Wtr. Dist., COP, Ser. A, 5.50%, 8/01/22, AMBAC | 08/07 @ 101 | 393,636 | ||||||
| 17,253,712 | ||||||||||
| Puerto Rico—7.8% | ||||||||||
| Puerto Rico Pub. Fin. Corp., Ser. E, | ||||||||||
| BBB+ | 745 | 3 | 5.50%, 2/01/12 | N/A | 840,352 | |||||
| BBB+ | 255 | 5.50%, 8/01/29 | 02/12 @ 100 | 262,245 | ||||||
| 1,102,597 | ||||||||||
| Total Long-Term Investments (cost $17,753,677) | 18,356,309 | |||||||||
1
BlackRock California Investment Quality Municipal Trust (RAA) (continued)
| Shares | |||||||||||||
| (000) | Description | ||||||||||||
| MONEY MARKET FUNDS—9.8% | |||||||||||||
| 700 | AIM Tax Free Investment Co. Cash Reserve Portfolio | $ 700,000 | |||||||||||
| 700 | SSgA Tax Free Money Mkt. Fund | 700,000 | |||||||||||
| Total Money Market Funds (cost $1,400,000) | 1,400,000 | ||||||||||||
| Total Investments—138.5% (cost $19,153,677) | 19,756,309 | ||||||||||||
| Other assets in excess of liabilities—14.1% | 2,013,614 | ||||||||||||
| Preferred shares at redemption value, including dividends payable—(52.6)% | (7,500,402) | ||||||||||||
| Net Assets Applicable to Common Shareholders—100% | $ 14,269,521 | ||||||||||||
| 1 | Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch Ratings ratings. | ||
| 2 | Date (month/year) and price of the earliest call or redemption. There may be other call provisions at varying prices at later dates. | ||
| 3 | This bond is prerefunded. Securities held in escrow are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par. | ||
| 4 | Entire or partial amount pledged as collateral for financial futures contracts. | ||
|
KEY TO ABBREVIATIONS |
|||||
| AMBAC | American Municipal Bond Assurance Corporation | FSA | Financial Security Assurance | ||
| COP | Certificate of Participation | GO | General Obligation | ||
| FGIC | Financial Guaranty Insurance Company | MBIA | Municipal Bond Insurance Association | ||
2
Item 2. Controls and Procedures
(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.
(b) The registrant's principal executive officer and principal financial officer are aware of no changes 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.
Item 3. Exhibits.
(a) Separate certifications of Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
SIGNATURES
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.
| (Registrant) | The BlackRock California Investment Quality Municipal Trust Inc. | |
| By: | /s/ Henry Gabbay | |
| Name: | Henry Gabbay | |
| Title: | Treasurer | |
| Date: | September 28, 2004 |
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/ Robert S. Kapito | |
| Name: | Robert S. Kapito | |
| Title: | Principal Executive Officer | |
| Date: | September 28, 2004 |
| By: | /s/ Henry Gabbay | |
| Name: | Henry Gabbay | |
| Title: | Principal Financial Officer | |
| Date: | September 28, 2004 |