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
BlackRock California Investment Quality Municipal Trust, Inc.
(Exact name of registrant as specified in charter)
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Robert S. Kapito, President
BlackRock
California Investment Quality Municipal Trust, Inc.
40 East
52nd Street, New York, NY 10022
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Registrant's telephone number, including area code: 888-825-2257
Date of fiscal year end: October 31, 2006
Date of reporting period: July 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 (unaudited)
JULY
31, 2006
BlackRock California Investment Quality Municipal Trust (RAA)
| LONG-TERM INVESTMENTS—140.4% | ||||||||||
| California—125.7% | ||||||||||
| California GO, | ||||||||||
| A+ | $ 700 | 4.75%, 3/01/34 | 03/16 @ 100 | $ 696,773 | ||||||
| A+ | 40 | 5.75%, 3/01/19 | 03/07 @ 100 | 40,257 | ||||||
| AAA | 625 | California St. Univ. RB, Ser. C, 5.00%, 11/01/38, MBIA | 11/15 @ 100 | 644,088 | ||||||
| A+ | 595 | Chula Vista Indl. Dev. RB, 5.00%, 12/01/27 | 12/15 @ 102 | 601,634 | ||||||
| Edl. Facs. Auth. RB, | ||||||||||
| AAA | 760 | 3 | Santa Clara Univ. Proj., 5.00%, 9/01/06, MBIA | N/A | 775,968 | |||||
| AAA | 75 | Student Loan Prog., Ser. A, 6.00%, 3/01/16, MBIA | 03/07 @ 102 | 77,128 | ||||||
| Golden St. Tobacco Sec. Corp. RB, | ||||||||||
| AAA | 1,015 | 5.00%, 6/01/45, AMBAC | 06/15 @ 100 | 1,035,259 | ||||||
| AAA | 600 | 3 | Ser. B, 5.50%, 6/01/13 | N/A | 657,780 | |||||
| AAA | 400 | 3 | Ser. B, 5.625%, 6/01/13 | N/A | 441,492 | |||||
| A3 | 1,040 | Hlth. Facs. Fin. Auth. RB, Cedars Sinai Med. Ctr. Proj., 5.00%, 11/15/34 | 11/15 @ 100 | 1,051,471 | ||||||
| AAA | 1,000 | 3 | Infrastructure & Econ. Dev. RB, Bay Area Toll Brdgs., Ser. A, 5.00%, 1/01/28, AMBAC | N/A | 1,084,080 | |||||
| AAA | 1,000 | Los Angeles Cnty. ST, Cmnty. Facs., Ser. A, 5.50%, 9/01/14, FSA | 09/07 @ 102 | 1,039,450 | ||||||
| AAA | 500 | Los Angeles Dept. of Wtr. & Pwr., Pwr. Sys. RB, 5.00%, 7/01/35, FSA | 07/15 @ 100 | 517,055 | ||||||
| AA | 1,150 | Los Angeles Harbor Dept. RB, Ser. B, 6.00%, 8/01/13 | 08/06 @ 101 | 1,161,500 | ||||||
| B | 945 | Los Angeles Regl. Arpt. Impvt., Corp. Lease RB, American Airlines, Inc. Proj., | ||||||||
| Ser. B, 7.50%, 12/01/24 | 12/12 @ 102 | 1,047,211 | ||||||||
| AAA | 200 | Murrieta Valley Univ. Sch. Dist. Pub. Fin. Auth. ST, Ser. A, 4.75%, 9/01/36 | 09/16 @ 100 | 197,218 | ||||||
| AAA | 700 | Palm Springs Univ. Sch. Dist. GO, Election 2004, Ser. A, 4.50%, 8/01/35, FSA | 08/14 @ 102 | 681,198 | ||||||
| NR | 1,000 | Poway Unified Sch. Dist. ST, Cmnty. Facs. Dist. No. 6 Proj., 5.60%, 9/01/33 | 09/10 @ 102 | 1,014,210 | ||||||
| A | 1,000 | Pub. Wks. Brd. Lease RB, St. Univ. Proj., Ser. A, 6.10%, 10/01/06 | 08/06 @ 101 | 1,003,800 | ||||||
| NR | 1,000 | San Bernardino Cnty. ST, Cmnty. Facs., 5.90%, 9/01/33 | 09/12 @ 102 | 1,051,230 | ||||||
| AAA | 500 | San Diego Ind. Dev. RB, Ser. A, 5.90%, 6/01/18, AMBAC | 08/06 @ 100 | 500,450 | ||||||
| AAA | 40 | So. California Pub. Pwr. Auth. RB, Transm. Proj., 5.50%, 7/01/20, MBIA | 08/06 @ 100 | 40,032 | ||||||
| AAA | 500 | 3 | Temecula Valley Unified Sch. Dist. GO, Ser. G, 5.75%, 8/01/07, FGIC | N/A | 520,310 | |||||
| AAA | 900 | 3 | Tobacco Sec. Auth. of So. California, Tobacco Settlement RB, Ser. A, 5.625%, 6/01/12 | N/A | 983,610 | |||||
| AAA | 750 | Tustin Univ. Sch. Dist. ST, Cmnty. Facs. Dist. 97-1-A, 5.00%, 9/01/32, FSA | 09/12 @ 100 | 765,322 | ||||||
| AAA | 370 | West Basin Mun. Wtr. Dist. COP, Ser. A, 5.50%, 8/01/22, AMBAC | 08/07 @ 101 | 379,535 | ||||||
| 18,008,061 | ||||||||||
| Puerto Rico—14.7% | ||||||||||
| AAA | 85 | Hwy. & Trans. Auth. RB, Ser. L, 5.25%, 7/01/38, AMBAC | No Opt. Call | 94,962 | ||||||
| BBB- | 700 | Indl. Tourist Edl. RB, Ana G. Mendez Univ. Sys. Proj., 5.00%, 3/01/26 | 03/16 @ 100 | 700,497 | ||||||
| Aaa | 745 | 3 | Pub. Fin. Corp. RB, Ser. E, 5.50%, 2/01/12 | N/A | 806,120 | |||||
| BBB | 500 | Pub. Impvt. GO, Ser. A, 5.00%, 7/01/34 | 07/14 @ 100 | 502,575 | ||||||
| 2,104,154 | ||||||||||
| Total Long-Term Investments (cost $19,249,342) | 20,112,215 | |||||||||
| SHORT-TERM INVESTMENTS—8.4% | ||||||||||
| Puerto Rico—4.9% | ||||||||||
| A-1+ | 700 | 4 | Gov't. Dev. Bank RB, 3.53%, 8/02/06, MBIA, FRWD | N/A | 700,000 | |||||
BlackRock California Investment Quality Municipal Trust (RAA) (continued)
| Money Market Fund—3.5% | |||||||||
| NR | AIM Tax Free Investment Co. Cash Reserve Portfolio | $ 500,000 | |||||||
| Total Short-Term Investments (cost $1,200,000) | 1,200,000 | ||||||||
| Total Investments—148.8% (cost $20,449,3425) | $21,312,215 | ||||||||
| Other assets in excess of liabilities—3.6% | 521,669 | ||||||||
| Preferred shares at redemption value, including dividends payable —(52.4)% | (7,502,877 | ) | |||||||
| Net Assets—100% | $14,331,007 | ||||||||
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| 1 | Using the highest of Standard & Poor’s, Moody’s Investment Services or Fitch’s 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 July 31, 2006. | ||
| 5 | Cost for Federal income tax purposes is $20,444,842. The net unrealized appreciation on a tax basis is $867,373, consisting of $905,274 gross unrealized | ||
| appreciation and $37,901 gross unrealized depreciation. | |||
| AMBAC | — | American Municipal Bond Assurance Corp. | GO | — | General Obligation | ||||||
| COP | — | Certificate of Participation | MBIA | — | Municipal Bond Insurance Assoc. | ||||||
| FGIC | — | Financial Guaranty Insurance Co. | RB | — | Revenue Bond | ||||||
| FRWD | — | Floating Rate Weekly Demand | ST | — | Special Tax | ||||||
| FSA | — | Financial Security Assurance | |||||||||
See Notes to Financial Statements.
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(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.
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 Gabbay
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: September 27, 2006
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: President and Principal Executive Officer
Date: September 27, 2006
By: /s/ Henry Gabbay
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: September 27, 2006