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 811-21702
Name of Fund: BlackRock Health Sciences Trust (BME)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Health Sciences Trust, 40 East 52nd Street, New York, NY 10022.
Registrant’s telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 10/31/2009
Date of reporting period: 07/31/2009
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Item 1 – Schedule of Investments |
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Schedule of Investments July 31, 2009 (Unaudited) |
BlackRock Health Sciences Trust (BME) |
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(Percentages shown are based on Net Assets) |
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Common Stocks |
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Shares |
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Value |
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Biotechnology—13.7% |
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3SBio, Inc. - ADR (a) |
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31,200 |
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$ |
302,952 |
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Alexion Pharmaceuticals, Inc. (a) |
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74,900 |
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3,299,345 |
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Amgen, Inc. (a) |
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93,800 |
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5,844,678 |
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Amylin Pharmaceuticals, Inc. (a) |
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133,300 |
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1,960,843 |
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ARYx Therapeutics, Inc. (a) |
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20,300 |
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69,223 |
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Celera Corp. (a) |
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193,300 |
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1,159,800 |
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Dendreon Corp. (a) |
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157,200 |
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3,805,812 |
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Immunogen, Inc. (a) |
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13,200 |
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114,708 |
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Incyte Corp. Ltd. (a) |
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35,700 |
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185,640 |
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Life Technologies Corp. (a) |
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54,900 |
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2,499,597 |
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Millipore Corp. (a) |
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38,400 |
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2,672,640 |
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Nanosphere, Inc. (a) |
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14,000 |
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98,840 |
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Vertex Pharmaceuticals, Inc. (a) |
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105,590 |
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3,802,296 |
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25,816,374 |
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Commercial Services—1.2% |
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McKesson Corp. |
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42,710 |
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2,184,617 |
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Electronics—4.1% |
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Mettler-Toledo International, Inc. (a) |
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11,600 |
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975,096 |
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PerkinElmer, Inc. |
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205,600 |
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3,624,728 |
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Thermo Fisher Scientific, Inc. (a) |
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68,500 |
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3,101,680 |
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7,701,504 |
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Healthcare Products—29.6% |
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Alcon, Inc. |
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55,800 |
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7,120,080 |
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Beckman Coulter, Inc. |
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16,180 |
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1,019,178 |
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Boston Scientific Corp. (a) |
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332,200 |
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3,567,828 |
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Cie Generale d’Optique Essilor International SA |
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56,800 |
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3,148,284 |
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Cooper Cos., Inc. (The) |
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57,200 |
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1,569,568 |
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Coviden Plc |
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101,660 |
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3,843,765 |
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CR Bard, Inc. |
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18,000 |
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1,324,260 |
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DENTSPLY International, Inc. |
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63,200 |
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2,107,720 |
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DiaSorin SpA |
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45,300 |
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1,265,275 |
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Elekta AB |
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12,900 |
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202,780 |
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Henry Schein, Inc. (a) |
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53,000 |
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2,723,140 |
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Hill-Rom Holdings, Inc. |
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92,400 |
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1,583,736 |
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Johnson & Johnson |
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138,970 |
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8,461,883 |
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Medtronic, Inc. |
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82,090 |
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2,907,628 |
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Mindray Medical International Ltd. - ADR |
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40,400 |
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1,200,688 |
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Patterson Cos., Inc. (a) |
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13,700 |
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347,432 |
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QIAGEN NV (a) |
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155,500 |
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2,948,280 |
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ResMed, Inc. (a) |
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11,900 |
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487,900 |
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Smith & Nephew Plc |
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185,400 |
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1,468,908 |
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Sonova Holding AG |
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27,000 |
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2,376,565 |
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Tecan Group AG |
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31,100 |
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1,336,996 |
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Varian Medical Systems, Inc. (a) |
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21,300 |
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751,251 |
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Wright Medical Group, Inc. (a) |
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57,300 |
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797,616 |
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Zimmer Holdings, Inc. (a) |
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71,800 |
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3,345,880 |
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55,906,641 |
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Healthcare Services—6.6% |
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Aetna, Inc. |
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53,000 |
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1,429,410 |
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Coventry Health Care, Inc. (a) |
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88,200 |
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2,028,600 |
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DaVita, Inc. (a) |
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37,580 |
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1,867,726 |
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Fresenius Medical Care AG & Co. KGaA |
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21,400 |
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982,868 |
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UnitedHealth Group, Inc. |
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38,000 |
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1,066,280 |
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WellPoint, Inc. (a) |
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96,200 |
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5,063,968 |
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12,438,852 |
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Pharmaceuticals—32.1% |
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Abbott Laboratories |
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88,940 |
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4,001,411 |
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Allergan, Inc. |
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50,900 |
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2,719,587 |
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Auxilium Pharmaceuticals, Inc. (a) |
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25,200 |
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779,436 |
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BioForm Medical, Inc. (a) |
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12,800 |
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32,128 |
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BioMarin Pharmaceutical, Inc. (a) |
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90,028 |
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1,477,359 |
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Bristol-Myers Squibb Co. |
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231,700 |
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5,037,158 |
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Cypress Bioscience, Inc. (a) |
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4,200 |
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37,128 |
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Express Scripts, Inc. (a) |
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37,880 |
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2,653,115 |
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Gilead Sciences, Inc. (a) |
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34,760 |
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1,700,807 |
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GlaxoSmithKline Plc |
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209,700 |
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4,017,765 |
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Human Genome Sciences, Inc. (a) |
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33,600 |
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480,480 |
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MAP Pharmaceuticals, Inc. (a) |
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15,700 |
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159,983 |
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Common Stocks |
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Shares |
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Value |
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Pharmaceuticals— (concluded) |
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Medco Health Solutions, Inc. (a) |
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90,210 |
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$ |
4,768,501 |
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Medivation, Inc. (a) |
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30,600 |
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757,350 |
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Merck & Co., Inc. |
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124,200 |
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3,727,242 |
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Novartis AG |
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70,400 |
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3,216,540 |
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Novartis AG - ADR |
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22,390 |
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1,021,432 |
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Novo Nordisk A/S |
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18,600 |
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1,088,378 |
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Pfizer, Inc. |
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437,800 |
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6,974,154 |
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Pharmasset, Inc. (a) |
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15,700 |
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241,623 |
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Roche Holding AG |
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35,750 |
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5,635,876 |
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Shire Plc - ADR |
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21,800 |
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976,858 |
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Teva Pharmaceutical Industries Ltd. - ADR |
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38,650 |
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2,061,591 |
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VCA Antech, Inc. (a) |
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79,200 |
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2,025,936 |
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Wyeth |
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105,132 |
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4,893,894 |
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60,485,732 |
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Retail—3.8% |
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CVS Caremark Corp. |
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215,200 |
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7,204,896 |
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Software—2.1% |
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Allscripts-Misys Healthcare Solutions, Inc. |
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102,700 |
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1,769,521 |
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Cerner Corp. (a) |
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35,000 |
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2,277,800 |
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4,047,321 |
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Total Long-Term Investments |
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175,785,937 |
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Short-Term Securities |
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BlackRock Liquidity Funds, TempFund, 0.29% (b)(c) |
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5,602,199 |
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5,602,199 |
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Total Short-Term Securities |
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5,602,199 |
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Options Purchased |
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Contracts |
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Exchange-Traded Call Option Purchased—0.0% |
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Gen-Probe, Inc., Strike Price $45, Expires 8/24/09 |
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150 |
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1,399 |
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Total Options Purchased |
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1,399 |
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Total Investments Before Outstanding Options
Written |
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181,389,535 |
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Options Written |
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Exchange-Traded Call Options Written—(1.0)% |
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3SBio, Inc. - ADR, Strike Price $10, Expires |
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(80 |
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(5,400 |
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Abbott Laboratories, Strike Price $49, |
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(50 |
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(4,750 |
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Abbott Laboratories, Strike Price $50, |
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(100 |
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(500 |
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Aetna, Inc., Strike Price $30, Expires |
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(80 |
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(6,600 |
) |
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Alcon, Inc., Strike Price $120, Expires |
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(100 |
) |
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(127,500 |
) |
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Alcon, Inc., Strike Price $130, Expires |
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(100 |
) |
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(69,500 |
) |
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Alexion Pharmaceuticals, Inc., Strike Price |
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(135 |
) |
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(87,750 |
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Alexion Pharmaceuticals, Inc., Strike Price |
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(50 |
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(22,000 |
) |
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Alexion Pharmaceuticals, Inc., Strike Price |
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(100 |
) |
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(36,500 |
) |
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Allscripts-Misys Healthcare Solutions, Inc., |
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(160 |
) |
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(35,200 |
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Amgen, Inc., Strike Price $57.50, Expires |
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(70 |
) |
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(40,250 |
) |
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Auxilium Pharmaceuticals, Inc., Strike |
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(60 |
) |
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(12,300 |
) |
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Beckman Coulter, Inc., Strike Price $60, |
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(80 |
) |
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(28,800 |
) |
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1 |
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JULY 31, 2009 |
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Schedule of Investments (continued) |
BlackRock Health Sciences Trust (BME) |
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(Percentages shown are based on Net Assets) |
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Options Written |
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Contracts |
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Value |
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Exchange-Traded Call Options Written— (continued) |
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Beckman
Coulter, Inc., Strike Price $60, |
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(25 |
) |
$ |
(10,875 |
) |
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BioMarin
Pharmaceuticals, Inc., Strike |
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(40 |
) |
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(1,000 |
) |
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BioMarin
Pharmaceuticals, Inc., Strike |
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(90 |
) |
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(5,400 |
) |
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Boston
Scientific Corp., Strike Price $10, |
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(930 |
) |
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(83,700 |
) |
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Boston
Scientific Corp., Strike Price $11, |
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(400 |
) |
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(39,000 |
) |
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Bristol-Myers
Squibb Co., Strike Price $21, |
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(100 |
) |
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(18,400 |
) |
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Bristol-Myers
Squibb Co., Strike Price $21, |
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(240 |
) |
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(23,880 |
) |
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Cerner
Corp., Strike Price $75, Expires |
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(120 |
) |
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(30,900 |
) |
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Cooper
Cos., Inc. (The), Strike Price $30, |
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(70 |
) |
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(10,325 |
) |
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Cooper
Cos., Inc. (The), Strike Price $30, |
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(120 |
) |
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(2,100 |
) |
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Coventry
Health Care, Inc., Strike Price |
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(240 |
) |
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(75,600 |
) |
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CVS
Caremark Corp., Strike Price $32.50, |
|
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(670 |
) |
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(105,525 |
) |
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DaVita,
Inc., Strike Price $50, Expires |
|
|
(115 |
) |
|
(21,275 |
) |
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DaVita,
Inc., Strike Price $55, Expires |
|
|
(8 |
) |
|
(220 |
) |
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Dendreon
Corp., Strike Price $30, Expires |
|
|
(100 |
) |
|
(17,050 |
) |
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Dendreon
Corp., Strike Price $30, Expires |
|
|
(150 |
) |
|
(2,850 |
) |
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Dendreon
Corp., Strike Price $35, Expires |
|
|
(100 |
) |
|
(8,900 |
) |
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Express
Scripts, Inc., Strike Price $70, |
|
|
(100 |
) |
|
(20,250 |
) |
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Express
Scripts, Inc., Strike Price $75, |
|
|
(50 |
) |
|
(15,750 |
) |
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Gen-Probe,
Inc., Strike Price $50, Expires |
|
|
(150 |
) |
|
(1,500 |
) |
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Gilead Sciences,
Inc., Strike Price $47.50, |
|
|
(90 |
) |
|
(19,125 |
) |
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Gilead
Sciences, Inc., Strike Price $49, |
|
|
(257 |
) |
|
(30,840 |
) |
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Henry
Schein, Inc., Strike Price $45, |
|
|
(30 |
) |
|
(20,100 |
) |
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Henry
Schein, Inc., Strike Price $50, |
|
|
(130 |
) |
|
(34,125 |
) |
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Johnson
& Johnson, Strike Price $60, |
|
|
(190 |
) |
|
(29,450 |
) |
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Life
Technologies Corp., Strike Price $45, |
|
|
(95 |
) |
|
(35,150 |
) |
|
McKesson
Corp., Inc., Strike Price $47.50, |
|
|
(100 |
) |
|
(39,000 |
) |
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McKesson
Corp., Inc., Strike Price $50, |
|
|
(50 |
) |
|
(19,000 |
) |
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McKesson
Corp., Inc., Strike Price $55, |
|
|
(50 |
) |
|
(7,750 |
) |
|
Medco
Health Solutions, Inc., Strike Price |
|
|
(100 |
) |
|
(13,000 |
) |
|
Medtronic,
Inc., Strike Price $35, Expires |
|
|
(150 |
) |
|
(16,500 |
) |
|
Medtronic,
Inc., Strike Price $36, Expires |
|
|
(450 |
) |
|
(27,000 |
) |
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Merck &
Co., Inc., Strike Price $28, Expires |
|
|
(350 |
) |
|
(80,500 |
) |
|
Mettler-Toledo
International, Inc., Strike |
|
|
(40 |
) |
|
(38,000 |
) |
|
Mettler-Toledo
International, Inc., Strike |
|
|
(30 |
) |
|
(5,775 |
) |
|
|
|
|
|
|
|
|
|
|
Options Written |
|
Contracts |
|
Value |
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||
|
|
|||||||
|
Exchange-Traded Call Options Written— (concluded) |
|
|
|
|
|
|
|
|
Millipore
Corp., Strike Price $70, Expires |
|
|
(110 |
) |
$ |
(22,825 |
) |
|
Mindray
Medical International Ltd. - ADR, |
|
|
(30 |
) |
|
(4,575 |
) |
|
Novartis AG
- ADR, Strike Price $45, |
|
|
(50 |
) |
|
(6,375 |
) |
|
Patterson
Cos., Inc., Strike Price $22.50, |
|
|
(30 |
) |
|
(9,300 |
) |
|
PerkinElmer,
Inc., Strike Price $17.50, |
|
|
(450 |
) |
|
(43,875 |
) |
|
Pfizer,
Inc., Strike Price $15, Expires |
|
|
(500 |
) |
|
(57,000 |
) |
|
QIAGEN NV,
Strike Price $17.50, Expires |
|
|
(150 |
) |
|
(25,875 |
) |
|
QIAGEN NV,
Strike Price $20, Expires |
|
|
(150 |
) |
|
(15,000 |
) |
|
QIAGEN NV,
Strike Price $20, Expires |
|
|
(150 |
) |
|
(3,750 |
) |
|
ResMed,
Inc., Strike Price $40, Expires |
|
|
(119 |
) |
|
(23,503 |
) |
|
Shire Plc -
ADR, Strike Price $45, Expires |
|
|
(2 |
) |
|
(410 |
) |
|
Teva
Pharmaceutical Industries Ltd. - ADR, |
|
|
(96 |
) |
|
(20,880 |
) |
|
UnitedHealth
Group, Inc., Strike Price $27, |
|
|
(300 |
) |
|
(69,000 |
) |
|
VCA Antech,
Inc., Strike Price $25, Expires |
|
|
(100 |
) |
|
(11,750 |
) |
|
Vertex
Pharmaceuticals, Inc., Strike Price |
|
|
(250 |
) |
|
(50,000 |
) |
|
WellPoint,
Inc., Strike Price $55, Expires |
|
|
(425 |
) |
|
(38,250 |
) |
|
WellPoint,
Inc., Strike Price $60, Expires |
|
|
(100 |
) |
|
(23,000 |
) |
|
Wright
Medical Group, Inc., Strike Price |
|
|
(145 |
) |
|
(1,812 |
) |
|
Wyeth, Strike Price $45, Expires 8/24/09 |
|
|
(200 |
) |
|
(39,000 |
) |
|
Wyeth,
Strike Price $47.50, Expires |
|
|
(200 |
) |
|
(16,000 |
) |
|
Zimmer
Holdings, Inc., Strike Price $50, |
|
|
(50 |
) |
|
(4,750 |
) |
|
|
|
|
|
|
|
|
|
|
Total Exchange-Traded Call Options Written |
|
|
|
|
|
(1,873,795 |
) |
|
|
|
|
|
|
|
|
|
|
Exchange-Traded Put Options Written—(0.1)% |
|
|
|
|
|
|
|
|
BioMarin
Pharmaceuticals, Inc., Strike |
|
|
(90 |
) |
|
(1,575 |
) |
|
Boston
Scientific Corp., Strike Price $9, |
|
|
(250 |
) |
|
(10,000 |
) |
|
Covidien
Plc, Strike Price $35, Expires |
|
|
(75 |
) |
|
(1,125 |
) |
|
CVS
Caremark Corp., Strike Price $30, |
|
|
(250 |
) |
|
(3,750 |
) |
|
Dendreon
Corp., Strike Price $19, Expires |
|
|
(100 |
) |
|
(15,550 |
) |
|
Express
Scripts, Inc., Strike Price $60, |
|
|
(50 |
) |
|
(8,750 |
) |
|
McKesson
Corp., Inc., Strike Price $50, |
|
|
(185 |
) |
|
(12,950 |
) |
|
Merck &
Co., Inc., Strike Price $30, Expires |
|
|
(85 |
) |
|
(8,075 |
) |
|
Pfizer,
Inc., Strike Price $14, Expires |
|
|
(300 |
) |
|
(1,350 |
) |
|
Teva
Pharmaceutical Industries Ltd. - ADR, |
|
|
(40 |
) |
|
(300 |
) |
|
VCA Antech,
Inc., Strike Price $25, Expires |
|
|
(35 |
) |
|
(1,225 |
) |
|
|
|
|
|
|
|
|
|
|
Total Exchange-Traded Put Options Written |
|
|
|
|
|
(64,650 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JULY 31, 2009 |
2 |
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Health Sciences Trust (BME) |
|
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Options Written |
|
Contracts |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
Over-the-Counter Call Options Written—(0.5)% |
|
|
|
|
|
|
|
|
Allergan,
Inc., Strike Price $50, Expires |
|
|
(15,000 |
) |
$ |
(85,678 |
) |
|
Allscripts-Misys
Healthcare Solutions, Inc., |
|
|
(150 |
) |
|
(23,850 |
) |
|
Amgen,
Inc., Strike Price $61.95, Expires |
|
|
(20,000 |
) |
|
(97,046 |
) |
|
Amylin
Pharmaceuticals, Inc., Strike Price |
|
|
(20,000 |
) |
|
(25,583 |
) |
|
Bristol-Myers
Squibb Co., Strike Price |
|
|
(18,800 |
) |
|
(30,285 |
) |
|
Bristol-Myers
Squibb Co., Strike Price $22, |
|
|
(20,000 |
) |
|
(18,645 |
) |
|
Celera
Corp., Strike Price $9.33, Expires |
|
|
(38,500 |
) |
|
— |
|
|
Cie
Generale d’Optique Essilor |
|
|
(13,500 |
) |
|
(78,630 |
) |
|
Coviden
Plc, Strike Price $37.50, Expires |
|
|
(240 |
) |
|
(40,437 |
) |
|
Dendreon
Corp., Strike Price $31, Expires |
|
|
(185 |
) |
|
(4,662 |
) |
|
Dentsply
International, Inc., Strike Price |
|
|
(200 |
) |
|
(72,400 |
) |
|
DiaSorin
SpA, Strike Price 18.34 EUR, |
|
|
(10,000 |
) |
|
(18,230 |
) |
|
Fresenius
Medical Care AG & Co. KGaA, |
|
|
(6,000 |
) |
|
(2,278 |
) |
|
GlaxoSmithKline
Plc, Strike Price 12.04 |
|
|
(53,000 |
) |
|
(22,015 |
) |
|
Hill-Rom
Holdings, Inc., Strike Price |
|
|
(175 |
) |
|
(21,470 |
) |
|
Johnson
& Johnson, Strike Price $56, |
|
|
(150 |
) |
|
(81,150 |
) |
|
Johnson
& Johnson, Strike Price $65, |
|
|
(15,000 |
) |
|
(14,863 |
) |
|
Medco
Health Solutions, Inc., Strike Price |
|
|
(80 |
) |
|
(33,728 |
) |
|
PerkinElmer,
Inc., Strike Price $18, Expires |
|
|
(150 |
) |
|
(9,771 |
) |
|
Pfizer,
Inc., Strike Price $15.14, Expires |
|
|
(87,000 |
) |
|
(84,000 |
) |
|
Roche
Holding AG, Strike Price 162.75 |
|
|
(11,000 |
) |
|
(108,332 |
) |
|
Smith &
Nephew Plc, Strike Price 4.60 |
|
|
(35,000 |
) |
|
(14,206 |
) |
|
Sonova
Holding AG, Strike Price 90.56 |
|
|
(6,400 |
) |
|
(26,129 |
) |
|
|
|
|
|
|
|
|
|
|
Options Written |
|
Contracts |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
Over-the-Counter Call Options Written— (concluded) |
|
|
|
|
|
|
|
|
Vertex
Pharmaceuticals, Inc., Strike Price |
|
|
(15,000 |
) |
$ |
(33,435 |
) |
|
|
|
|
|
|
|
|
|
|
Total Over-the-Counter Call Options Written |
|
|
|
|
|
(946,823 |
) |
|
|
|
|
|
|
|
|
|
|
Total Options Written |
|
|
|
|
|
(2,885,268 |
) |
|
|
|
|
|
|
|
|
|
|
Total Investments Net of Outstanding Options
Written— |
|
178,504,267 |
|
||||
|
Other Assets in Excess of Liabilities—5.4% |
|
|
|
|
|
10,102,644 |
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0% |
|
|
|
|
$ |
188,606,911 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
The cost and unrealized appreciation (depreciation) of investments as of July 31, 2009, as computed for federal income tax purposes, were as follows: |
|
|
|
|
|
|
|
|
|
Aggregate cost |
|
$ |
164,701,835 |
|
|
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
21,886,639 |
|
|
|
Gross unrealized depreciation |
|
|
(5,198,939 |
) |
|
|
|
|
|
|
|
|
|
Net unrealized appreciation |
|
$ |
16,687,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Non-income producing security. |
|
|
|
|
(b) |
Represents current yield as of report date. |
|
|
|
|
(c) |
Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliate |
|
Net Activity |
|
Income |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds, TempFund |
|
5,602,199 |
|
|
$ |
100,066 |
|
|
|
BlackRock Liquidity Series, LLC Money Market Series |
|
(2,226,500 |
) |
|
$ |
5,198 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
• |
Foreign currency exchange contracts as of July 31, 2009 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Currency |
|
Currency |
|
Counterparty |
|
Settlement |
|
Unrealized |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SEK |
1,466,000 |
|
USD |
203,047 |
|
Citigroup Global |
|
8/04/09 |
|
|
$ |
117 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
• |
Effective November 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows: |
|
|
|
|
|
|
|
• |
Level 1 — price quotations in active markets/exchanges for identical securities |
|
|
|
|
|
|
• |
Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
|
|
|
|
|
|
• |
Level 3 — unobservable inputs based on the best information available In the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments) |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its semi-annual report.
|
|
|
|
|
|
|
|
|
|
|
3 |
|
JULY 31, 2009 |
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock Health Sciences Trust (BME) |
|
|
(Percentages shown are based on Net Assets) |
The following tables summarize the inputs used as of July 31, 2009 in determining the fair valuation of the Trust’s investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
Valuation Inputs |
|
||||||||||
|
|
|
|
|
||||||||||
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
Investments in Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Biotechnology |
|
$ |
25,816,374 |
|
|
— |
|
|
— |
|
$ |
25,816,374 |
|
|
Commercial |
|
|
2,184,617 |
|
|
— |
|
|
— |
|
|
2,184,617 |
|
|
Electronics |
|
|
7,701,504 |
|
|
— |
|
|
— |
|
|
7,701,504 |
|
|
Healthcare |
|
|
46,107,833 |
|
$ |
9,798,808 |
|
|
— |
|
|
55,906,641 |
|
|
Healthcare |
|
|
11,455,984 |
|
|
982,868 |
|
|
— |
|
|
12,438,852 |
|
|
Pharmaceuticals |
|
|
46,527,173 |
|
|
13,958,559 |
|
|
— |
|
|
60,485,732 |
|
|
Retail |
|
|
7,204,896 |
|
|
— |
|
|
— |
|
|
7,204,896 |
|
|
Software |
|
|
4,047,321 |
|
|
— |
|
|
— |
|
|
4,047,321 |
|
|
Short-Term |
|
|
5,602,199 |
|
|
— |
|
|
— |
|
|
5,602,199 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
156,647,901 |
|
$ |
24,740,235 |
|
|
— |
|
$ |
181,388,136 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Valuation |
|
Other Financial Instruments1 |
|
||||
|
|
|
|
|
|
|
||
|
|
|
Assets |
|
Liabilities |
|
||
|
|
|
|
|
|
|
||
|
Level 1 |
|
$ |
1,399 |
|
$ |
(1,938,445 |
) |
|
Level 2 |
|
|
117 |
|
|
(946,823 |
) |
|
Level 3 |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
1,516 |
|
$ |
(2,885,268 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Other financial instruments are options, options written and foreign currency exchange contracts. Options and options written are shown at market value and foreign currency contracts are valued at the unrealized appreciation/depreciation on the instrument. |
|
|
|
|
KEY TO ABBREVIATIONS |
|
|
|
|
|
ADR — |
American Depositary Receipt |
|
CHF — |
Swiss Franc |
|
EUR — |
Euro |
|
GBP — |
British Pound |
|
SEK — |
Swedish Krona |
|
USD — |
US Dollar |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JULY 31, 2009 |
4 |
|
|
|
|
Item 2 – Controls and Procedures |
|
|
|
|
|
2(a) – |
The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s 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 13(a)-15(b) under the Securities Exchange Act of 1934, as amended. |
|
|
|
|
2(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) 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 |
|
|
|
|
|
|
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 Health Sciences Trust |
|
|
|
|
|
|
|
By: |
|
|
|
|
|
/s/ Anne F. Ackerley |
|
|
|
|
Anne F. Ackerley |
|
|
|
|
Chief Executive Officer of |
|
|
|
|
BlackRock Health Sciences Trust |
|
|
|
|
|
|
|
|
Date: September 22, 2009 |
||
|
|
|
||
|
|
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/ Anne F. Ackerley |
|
|
|
|
Anne F. Ackerley |
|
|
|
|
Chief
Executive Officer (principal executive officer) of |
|
|
|
|
|
|
|
|
Date: September 22, 2009 |
||
|
|
|
|
|
|
|
By: |
|
|
|
|
|
/s/ Neal J. Andrews |
|
|
|
|
Neal J. Andrews |
|
|
|
|
Chief
Financial Officer (principal financial officer) of |
|
|
|
|
|
|
|
|
Date: September 22, 2009 |
||