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. |
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Registrant's telephone number, including area code: 888-825-2257
Date of fiscal year end: October 31, 2007
Date of reporting period: January 31, 2007
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)
JANUARY 31, 2007
BlackRock California Investment Quality Municipal Trust (RAA)
(Percentage of Net Assets)
| Principal | |||||||||
| Amount | Option Call | ||||||||
| Rating1 | (000) | Description | Provisions2 | Value | |||||
| LONG-TERM INVESTMENTS—143.1% | |||||||||
| California—125.9% | |||||||||
| California, | |||||||||
| A+ | $ 700 | Ad Valorem Ppty. Tax GO, 4.75%, 3/01/34 | 03/16 @ 100 | $ | 709,772 | ||||
| A+ | 40 | Pub. Impvts. Misc. GO, 5.75%, 3/01/19 | 09/07 @ 100 | 40,052 | |||||
| AAA | 625 | California St. Univ., Coll. & Univ. RB, Ser. C, 5.00%, 11/01/38, MBIA | 11/15 @ 100 | 659,381 | |||||
| AA | 500 | Carson Pub. Fing. Auth., Pub. Impvts. SA, Ser. A, 5.00%, 9/02/31, RAA | 03/17 @ 100 | 518,840 | |||||
| AAA | 500 | Chabot-Las Positas Cmnty. Coll. Dist., Univ. & Coll. Impvts. Ad Valorem Ppty. Tax GO, | |||||||
| 5.00%, 8/01/31, AMBAC | 08/16 @ 100 | 530,265 | |||||||
| City of Chula Vista, Indl. Dev. RB, | |||||||||
| A+ | 275 | 5.00%, 12/01/27, AMT | 12/15 @ 102 | 288,838 | |||||
| A+ | 320 | San Diego Gas & Elec. Proj., 5.00%, 12/01/27, AMT | 12/15 @ 102 | 336,103 | |||||
| NR | 1,000 | Cnty. of San Bernardino, Pub. Impvts. ST, 5.90%, 9/01/33 | 09/12 @ 102 | 1,061,360 | |||||
| Aa2 | 500 | Dept. of Veterans Affairs, St. Hsg. RB, Ser. A-3, 4.60%, 12/01/28 | 11/11 @ 101 | 497,110 | |||||
| AAA | 75 | Edl. Facs. Auth., Student Loans RB, Ser. A, 6.00%, 3/01/16, MBIA, AMT | 03/07 @ 100 | 76,598 | |||||
| Golden St. Tobacco Sec. Corp., Misc. Purps. Tobacco Settlement Funded RB, | |||||||||
| AAA | 600 | 3 | Ser. B, 5.50%, 6/01/13 | N/A | 656,304 | ||||
| AAA | 400 | 3 | Ser. B, 5.625%, 6/01/13 | N/A | 440,324 | ||||
| A3 | 1,040 | Hlth. Facs. Fing. Auth., Hlth., Hosp. & Nursing Home RB, Cedars Sinai Med. Ctr. Proj., | |||||||
| 5.00%, 11/15/34 | 11/15 @ 100 | 1,072,760 | |||||||
| AAA | 500 | Infrastructure & Econ. Dev. Bank, Misc. RB, Salvation Army Proj., 5.00%, 9/01/27, | |||||||
| AMBAC | 09/16 @ 100 | 529,655 | |||||||
| AAA | 500 | Las Virgenes Unified Sch. Dist., Sch. Impvts. Ad Valorem Ppty. Tax RB, Ser. A, 5.00%, | |||||||
| 8/01/28, FSA | 08/16 @ 100 | 531,070 | |||||||
| AAA | 1,000 | Los Angeles Cnty. Cmnty. Facs. Dist. No. 3 ST, Ser. A, 5.50%, 9/01/14, FSA | 09/07 @ 102 | 1,030,070 | |||||
| AAA | 510 | Los Angeles Dept. of Arpts., Port, Arpt. & Marina RB, Ontario Intl. Proj., Ser. A, 5.00%, | |||||||
| 5/15/26, MBIA, AMT | 05/16 @ 100 | 532,302 | |||||||
| AAA | 500 | Los Angeles Dept. of Wtr. & Pwr., Elec., Pwr. & Lt. RB, 5.00%, 7/01/35, FSA | 07/15 @ 100 | 527,370 | |||||
| B | 945 | Los Angeles Regl. Arpts. Impvt. Corp., Port, Arpt. & Marina RB, American Airlines, Inc. | |||||||
| Proj., Ser. B, 7.50%, 12/01/24, AMT | 12/12 @ 102 | 1,088,772 | |||||||
| AAA | 500 | Los Angeles Unified Sch. Dist., Ad Valorem Ppty. Tax GO, Ser. B, 4.75%, 1/01/27, FGIC | 07/16 @ 100 | 516,470 | |||||
| AAA | 700 | Palm Springs Unified Sch. Dist., Sch. Impvts. Ad Valorem Ppty. Tax GO, Election 2004, | |||||||
| Ser. A, 4.50%, 8/01/35, FSA | 08/14 @ 102 | 700,000 | |||||||
| NR | 1,000 | Poway Unified Sch. Dist., Pub. Impvts. ST, Cmnty. Facs. Dist. No. 6 Proj., 5.60%, 9/01/33 | 09/10 @ 102 | 1,031,190 | |||||
| A | 500 | Pub. Wks. Brd., Correctional Fac. Impvts. Lease Abatement RB, Dept. Corrections Rehab. | |||||||
| Proj., Ser. H, 5.00%, 11/01/31 | 11/16 @ 100 | 523,140 | |||||||
| Aaa | 500 | Rural Home Mtg. Fin. Auth., Local Sngl. Fam. Hsg. RB, 5.40%, 12/01/36, AMT | 06/16 @ 104 | 528,850 | |||||
| AAA | 40 | Southern California Pub. Pwr. Auth., Elec., Pwr. & Lt. RB, 5.50%, 7/01/20, MBIA | 03/07 @ 100 | 40,056 | |||||
| Statewide Cmntys. Dev. Auth., Hlth., Hosp. & Nursing Home RB, | |||||||||
| A+ | 500 | Kaiser Hosp. Asset Mgt. Proj., 5.25%, 8/01/31 | 08/16 @ 100 | 529,125 | |||||
| A+ | 500 | Kaiser Permanente Proj., Ser. A, 5.00%, 4/01/31 | 04/17 @ 100 | 518,120 | |||||
| AAA | 500 | 3 | Temecula Valley Unified Sch. Dist., Sch. Impvts. Ad Valorem Ppty. Tax GO, Ser. G, | ||||||
| 5.75%, 8/01/07, FGIC | N/A | 515,280 | |||||||
| AAA | 900 | 3 | Tobacco Sec. Auth. of Southern California, Misc. Purps. Tobacco Settlement Funded RB, | ||||||
| Ser. A, 5.625%, 6/01/12 | N/A | 980,838 | |||||||
| AAA | 750 | Tustin Unified Sch. Dist., Sch. Impvts. Ad Valorem Ppty. Tax ST, Cmnty. Facs. Dist. 97-1- | |||||||
| A Proj., 5.00%, 9/01/32, FSA | 09/12 @ 100 | 776,918 | |||||||
| AAA | 370 | West Basin Mun. Wtr. Dist., Lease Non-Terminable COP, Ser. A, 5.50%, 8/01/22, | |||||||
| AMBAC | 08/07 @ 101 | 376,571 | |||||||
| 18,163,504 | |||||||||
| Puerto Rico—17.2% | |||||||||
| BBB | 500 | Comnwlth., Pub. Impvts. Ad Valorem Ppty. Tax GO, Ser. A, 5.00%, 7/01/34 | 07/14 @ 100 | 517,510 | |||||
| A3 | 325 | Elec. Pwr. Auth., Elec., Pwr. & Lt. Impvts. RB, Ser. NN, 5.125%, 7/01/29 | 07/13 @ 100 | 339,329 | |||||
| AAA | 85 | Hwy. & Transp. Auth., Hwy. Tolls RB, Ser. L, 5.25%, 7/01/38, AMBAC | No Opt. Call | 99,496 | |||||
| BBB- | 700 | Indl. Tourist Edl. Med. & Env. Ctrl. Facs. Fing. Auth., Univ. & Coll. Impvts. RB, Ana G. | |||||||
| Mendez Univ. Sys. Proj., 5.00%, 3/01/26 | 03/16 @ 100 | 726,894 |
1
BlackRock California Investment Quality Municipal Trust (RAA) (continued)
(Percentage of Net Assets)
| Principal | |||||||||
| Amount | Option Call | ||||||||
| Rating1 | (000) | Description | Provisions2 | Value | |||||
| Puerto Rico—(cont'd) | |||||||||
| Aaa | $ 745 | 3 | Pub. Fin. Corp., Cash Flow Mgmt. Misc. RB, Ser. E, 5.50%, 2/01/12 | N/A | $ | 803,237 | |||
| 2,486,466 | |||||||||
| Total Long-Term Investments (cost $19,701,729) | 20,649,970 | ||||||||
| Shares | |||||||||
| (000) | |||||||||
| MONEY MARKET FUNDS—7.3% | |||||||||
| NR | 700 | AIM Tax Free Cash Reserve Portfolio - Institutional Class | N/A | 700,000 | |||||
| NR | 350 | SSgA Tax Free Money Mkt. Fund - Class A | N/A | 350,000 | |||||
| Total Short-Term Investments (cost $1,050,000) | 1,050,000 | ||||||||
| Total Investments —150.4% (cost $20,751,7294) | $ | 21,699,970 | |||||||
| Other assets in excess of liabilities —1.6% | 231,133 | ||||||||
| Preferred shares at redemption value, including dividends payable —(52.0)% | (7,504,891) | ||||||||
| Net Assets Applicable to Common Shareholders—100% | $ | 14,426,212 |
| 1 |
Using the highest of Standard & Poor's, Moody's Investors Service 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 |
Cost for federal income tax purposes is $20,745,538. The net unrealized appreciation on a tax basis is $954,432, consisting of $996,476 gross unrealized appreciation and $42,044 gross unrealized depreciation. |
| KEY TO ABBREVIATIONS | ||||
| AMBAC | — American Municipal Bond Assurance Corp. | MBIA | — Municipal Bond Insurance Assoc. | |
| AMT | — Subject to Alternative Minimum Tax | RAA | — Radian Asset Assurance | |
| COP | — Certificate of Participation | RB | — Revenue Bond | |
| FGIC | — Financial Guaranty Insurance Co. | SA | — Special Assessment | |
| FSA | — Financial Security Assurance | ST | — Special Tax | |
| GO | — General Obligation | |||
2
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/ Donald C. Burke
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: March 28, 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/ Robert S. Kapito
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: March 28, 2007
By: /s/ Donald C. Burke
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: March 28, 2007