FORM N-Q
Investment Company Act file number: 811-07664
BlackRock California Investment Quality Municipal Trust, Inc.
(Exact name of registrant as specified in charter)
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Registrant's telephone number, including area code: 888-825-2257
Date of fiscal year end: October 31, 2006 Item 1. Schedule of Investments.
The Registrant’s unaudited schedule of investments
as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment
Company Act of 1940 is as follows:
PORTFOLIO OF INVESTMENTS
JANUARY
31, 2006 (unaudited)
| Option Call | ||||||||||||||
| Rating1 | Provisions2 | |||||||||||||
| LONG-TERM INVESTMENTS—131.1 | ||||||||||||||
| California—113.3% | ||||||||||||||
| A | $ | 40 | California, GO, 5.75%, 3/01/19 | 09/06 @ 100.50 | $ |
40,276 | ||||||||
| A+ | 595 | Chula Vista Indl. Dev. Rev., 5.00%, 12/01/27 | 12/15 @ 102 | 602,384 | ||||||||||
| Edl. Facs. Auth., | ||||||||||||||
| AAA | 760 | 3 | Santa Clara Univ. Proj., 5.00%, 9/01/06, MBIA | N/A | 783,340 | |||||||||
| AAA | 240 | Student Loan Prog., Ser. A, 6.00%, 3/01/16, MBIA | 03/07 @ 102 | 249,060 | ||||||||||
| Golden St. Tobacco Sec. Corp., | ||||||||||||||
| A- | 1,040 | Ser. A, 5.00%, 6/01/45 | 06/15 @ 100 | 1,050,223 | ||||||||||
| AAA | 600 | 3 | Ser. B, 5.50%, 6/01/13 | N/A | 667,104 | |||||||||
| AAA | 400 | 3 | Ser. B, 5.625%, 6/01/13 | N/A | 447,916 | |||||||||
| A3 | 1,040 | Hlth. Facs. Fin. Auth. Rev., Cedars Sinai Med. Ctr. Proj., 5.00%, 11/15/34 | 11/15 @ 100 | 1,051,149 | ||||||||||
| AAA | 1,000 | 3 | Los Angeles Cnty. Met. Trans. Auth. Sales Tax Rev., 6.00%, 7/01/06, MBIA | N/A | 1,022,000 | |||||||||
| AAA | 1,000 | Los Angeles Cnty., Cmnty. Facs. Spec. Tax, Ser. A, 5.50%, 9/01/14, FSA | 09/07 @ 102 | 1,054,590 | ||||||||||
| AAA | 500 | Los Angeles Dept. of Wtr. & Pwr. Sys., 5.00%, 7/01/35, FSA | 07/15 @ 100 | 521,720 | ||||||||||
| AA | 1,150 | Los Angeles Harbor Dept., Ser. B, 6.00%, 8/01/13 | 08/06 @ 101 | 1,177,278 | ||||||||||
| B- | 945 | Los Angeles Regl. Arpt. Impvt., Corp. Lease Rev., Amer. Airlines, Inc. Proj., | ||||||||||||
| Ser. B, 7.50%, 12/01/24 | 12/12 @ 102 | 976,998 | ||||||||||||
| NR | 1,000 | Poway Unified Sch. Dist., Spl. Tax Rev., Cmnty. Facs. Dist. No. 6 Proj., 5.60%, 9/01/33 | 09/10 @ 102 | 1,018,550 | ||||||||||
| A2 | 1,000 | Pub. Wks. Brd., Lease Rev., St. Univ. Proj., Ser. A, 6.10%, 10/01/06 | 03/06 @ 101 | 1,012,870 | ||||||||||
| BBB+ | 1,000 | 3 | Sacramento Pwr. Auth., Cogeneration Proj., 6.50%, 7/01/06 | N/A | 1,033,690 | |||||||||
| NR | 1,000 | San Bernardino Cnty., Spl. Tax Rev., Cmnty. Facs., 5.90%, 9/01/33 | 09/12 @ 102 | 1,058,180 | ||||||||||
| AAA | 500 | San Diego Ind. Dev., Ser. A, 5.90%, 6/01/18, AMBAC | 03/06 @ 100 | 500,745 | ||||||||||
| AAA | 150 | San Francisco City & Cnty. Arpt. Rev. Comm., Intl. Arpt., Ser. 12-A, 5.90%, 5/01/26, MBIA | 05/06 @ 101 | 152,452 | ||||||||||
| AAA | 40 | So. California Pub. Pwr. Auth., Transm. Proj. Rev., 5.50%, 7/01/20, MBIA | 03/06 @ 100 | 40,053 | ||||||||||
| AAA | 500 | Temecula Valley Unified Sch. Dist. Proj., GO, Ser. G, 5.75%, 8/01/25, FGIC | 08/07 @ 102 | 526,865 | ||||||||||
| BBB | 900 | Tobacco Sec. Auth. So. California, Tobacco Settlement Rev., Ser. A, 5.625%, 6/01/43 | 06/12 @ 100 | 922,131 | ||||||||||
| AAA | 370 | West Basin Mun. Wtr. Dist., COP, Ser. A, 5.50%, 8/01/22, AMBAC | 08/07 @ 101 | 385,022 | ||||||||||
| 16,294,596 | ||||||||||||||
| Puerto Rico—17.8% | ||||||||||||||
| Hwy. & Trans. Auth., | ||||||||||||||
| BBB+ | 130 | 5.00%, 7/01/30 | 07/15 @ 100 | 132,043 | ||||||||||
| BBB+ | 260 | 5.00%, 7/01/40 | 07/15 @ 100 | 262,517 | ||||||||||
| BBB+ | 250 | 5.00%, 7/01/45 | 07/15 @ 100 | 252,420 | ||||||||||
| BBB+ | 230 | Ser. K, 5.00%, 7/01/35 | 07/15 @ 100 | 232,226 | ||||||||||
| AAA | 85 | Ser. L, 5.25%, 7/01/38, AMBAC | No Opt. Call | 96,608 | ||||||||||
| Pub. Fin. Corp., | ||||||||||||||
| Aaa | 745 | 3 | Ser. E, 5.50%, 2/01/12 | N/A | 816,088 | |||||||||
| BBB- | 255 | Ser. E, 5.50%, 8/01/29 | 02/12 @ 100 | 268,403 | ||||||||||
| BBB | 500 | Pub. Impvt., Ser. A, 5.00%, 7/01/34 | 07/14 @ 100 | 504,420 | ||||||||||
| 2,564,725 | ||||||||||||||
| Total Long-Term Investments (cost $18,020,126) | 18,859,321 | |||||||||||||
| SHORT-TERM INVESTMENTS—18.9% | ||||||||||||||
| California—14.7% | ||||||||||||||
| A-1+ | 600 | 4 | Dept. of Wtr. Res., Pwr. Sply. Rev., Ser. B-2, 3.12%, 2/01/06, FRDD | N/A | 600,000 | |||||||||
| A-1+ | 600 | 4 | Hlth. Facs Fin. Auth., Ser. B, 2.84%, 2/01/06, AMBAC, FRDD | N/A | 600,000 | |||||||||
| VMIG1 | 318 | 4 | Irvine Impvt. Bond Act 1915, Spec. Assmt. Dist. No 00-18, Ser. A, 3.08%, 2/01/06, FRDD | N/A | 318,000 | |||||||||
| A-1+ | 600 | 4 | Orange Cnty. San. Dist., Ser. B, 3.03%, 2/01/06, FRDD | N/A | 600,000 | |||||||||
| 2,118,000 | ||||||||||||||
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| Option Call | |||||||||||||
| Rating1 | Provisions2 | ||||||||||||
| Puerto Rico—4.2% | |||||||||||||
| A-1 | Hwy. & Transp. Auth. Transp. Rev., Ser. A, 2.93%, 2/01/06, AMBAC, FRWD | $ | 600,000 | ||||||||||
| Total Short-Term Investments (cost $2,718,000) | 2,718,000 | ||||||||||||
| Total Investments—150.0% (cost $20,738,1265) | $21,577,321 | ||||||||||||
| Other assets in excess of liabilities—2.2% | 313,624 | ||||||||||||
| Preferred shares at redemption value, including dividends payable—(52.2)% | (7,503,565 | ) | |||||||||||
| Net Assets Applicable to Common Shareholders—100% | $14,387,380 | ||||||||||||
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| 1 | Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch ratings. | ||
| 2 | Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. | ||
| 3 | This bond is prerefunded. U.S. government 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 | For purposes of amortized cost valuation, the maturity date of this instrument is considered to be the earlier of the next date on which the security can be redeemed at par, or the next date on which the rate of interest is adjusted. Rate shown is rate as of January 31, 2006. | ||
| 5 | Cost for Federal income tax purposes is $20,733,689. The net unrealized appreciation on a tax basis is $843,632, consisting of $900,348 gross unrealized appreciation and $56,716 gross unrealized depreciation. | ||
| AMBAC | — | American Municipal Bond Assurance Corp. | FRWD | — | Floating Rate Weekly Demand | |||
| COP | — | Certificate of Participation | FSA | — | Financial Security Assurance | |||
| FGIC | — | Financial Guaranty Insurance Co. | GO | — | General Obligation | |||
| FRDD | — | Floating Rate Daily Demand | MBIA | — | Municipal Bond Insurance Assoc. | |||
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Item 2. Controls and Procedures.
(a)
The Registrant's principal executive and principal financial officers have evaluated
the Registrant's disclosure controls and procedures within 90 days of this filing
and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods
and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s
management, including its principal executive and principal financial officers,
as appropriate to allow timely decisions regarding required disclosure.
(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 (17 CFR 270.30a -3(d)) 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.
Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.
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) BlackRock California Investment Quality Municipal Trust, Inc.
By: /s/ Henry GabbayPursuant 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