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 811-09401
Name of Fund: The BlackRock Strategic Municipal Trust (BSD)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, The BlackRock Strategic Municipal Trust, 55 East 52nd Street, New York, NY 10055
Registrant’s telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 04/30/2013
Date of reporting period: 01/31/2013
Item 1 – Schedule of Investments
Schedule of Investments January 31, 2013 (Unaudited) |
BlackRock Strategic Municipal Trust (BSD) (Percentages shown are based on Net Assets) |
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
Alabama — 1.1% | |||||||||||
Alabama State Docks Department, Refunding RB, 6.00%, 10/01/40 | $ | 655 | $ | 768,086 | |||||||
County of Jefferson Alabama, RB, Series A, 5.25%, 1/01/19 | 465 | 465,018 | |||||||||
1,233,104 | |||||||||||
Alaska — 1.1% | |||||||||||
Northern Tobacco Securitization Corp., Refunding RB, Series A: | |||||||||||
4.63%, 6/01/23 | 725 | 727,610 | |||||||||
5.00%, 6/01/46 | 530 | 465,616 | |||||||||
1,193,226 | |||||||||||
Arizona — 2.0% | |||||||||||
Salt Verde Financial Corp., RB, Senior, 5.00%, 12/01/37 | 1,320 | 1,515,175 | |||||||||
San Luis Facility Development Corp., RB, Senior Lien, Regional Detention Center Project: | |||||||||||
6.25%, 5/01/15 | 135 | 134,507 | |||||||||
7.00%, 5/01/20 | 210 | 213,801 | |||||||||
7.25%, 5/01/27 | 420 | 404,448 | |||||||||
2,267,931 | |||||||||||
California — 7.7% | |||||||||||
Bay Area Toll Authority, Refunding RB, San Francisco Bay Area Toll Bridge, Series F-1, 5.63%, 4/01/44 | 720 | 835,762 | |||||||||
California County Tobacco Securitization Agency, RB, CAB Stanislaus, Sub-Series C, 11.05%, 6/01/55 (a) | 3,095 | 32,528 | |||||||||
California Health Facilities Financing Authority, RB: | |||||||||||
Stanford Hospital and Clinics, Series A, 5.00%, 8/15/51 | 370 | 414,356 | |||||||||
Sutter Health, Series B, 6.00%, 8/15/42 | 1,010 | 1,213,828 | |||||||||
California Pollution Control Financing Authority, RB: | |||||||||||
Poseidon Resources (Channel Side) LP Desalination, AMT, 5.00%, 7/01/37 | 325 | 340,402 | |||||||||
Poseidon Resources (Channel Side) LP Desalination, AMT, 5.00%, 11/21/45 | 810 | 842,044 | |||||||||
San Diego County Water Authority Desalination Project Pipeline, 5.00%, 11/21/45 | 390 | 398,502 | |||||||||
California State Public Works Board, RB, Various Capital Projects, Sub-Series I-1, 6.38%, 11/01/34 | 375 | 460,020 | |||||||||
California Statewide Communities Development Authority, RB, Series A, 5.00%, 4/01/42 | 690 | 774,559 | |||||||||
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
California (concluded) | |||||||||||
City of Los Angeles Department of Airports, Refunding RB, Series A, 5.25%, 5/15/39 | $ | 250 | $ | 283,695 | |||||||
Foothill Eastern Transportation Corridor Agency California, Refunding RB, CAB, 6.06%, 1/15/33 (a) | 3,835 | 1,164,459 | |||||||||
State of California, GO, Various Purpose: | |||||||||||
6.00%, 3/01/33 | 800 | 994,808 | |||||||||
6.50%, 4/01/33 | 650 | 808,210 | |||||||||
8,563,173 | |||||||||||
Colorado — 1.5% | |||||||||||
Colorado Health Facilities Authority, Refunding RB: | |||||||||||
Catholic Health Initiatives, Series A, 5.50%, 7/01/34 | 680 | 778,539 | |||||||||
Evangelical Lutheran Good Samaritan Society Project, 5.00%, 12/01/42 | 5 | 5,374 | |||||||||
Park Creek Metropolitan District Colorado, Refunding RB, Senior, Limited Tax, Property Tax, 5.50%, 12/01/37 | 440 | 464,693 | |||||||||
Regional Transportation District, COP, Refunding, Series A, 5.38%, 6/01/31 | 320 | 365,494 | |||||||||
1,614,100 | |||||||||||
Delaware — 2.1% | |||||||||||
County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Project, 6.00%, 10/01/40 | 820 | 927,248 | |||||||||
Delaware State EDA, RB, Exempt Facilities, Indian River Power, 5.38%, 10/01/45 | 1,280 | 1,369,843 | |||||||||
2,297,091 | |||||||||||
District of Columbia — 1.8% | |||||||||||
District of Columbia, Tax Allocation Bonds, City Market O Street Project, Tax Increment Revenue, 5.13%, 6/01/41 | 690 | 748,381 | |||||||||
Metropolitan Washington Airports Authority, Refunding RB, First Senior Lien, Series A: | |||||||||||
5.00%, 10/01/39 | 160 | 176,150 | |||||||||
5.25%, 10/01/44 | 1,000 | 1,108,850 | |||||||||
2,033,381 | |||||||||||
Florida — 7.3% | |||||||||||
Highlands County Florida Health Facilities Authority, Refunding RB, Adventist, Series G, 5.13%, 11/15/32 (b) | 1,000 | 1,109,510 | |||||||||
Hillsborough County IDA, RB, National Gypsum Co., Series A, AMT, 7.13%, 4/01/30 | 1,500 | 1,501,515 | |||||||||
BLACKROCK STRATEGIC MUNICIPAL TRUST | JANUARY 31, 2013 1 |
Schedule of Investments (continued) |
BlackRock Strategic Municipal Trust (BSD) (Percentages shown are based on Net Assets) |
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
Florida (concluded) | |||||||||||
Miami Beach Health Facilities Authority, RB, Mount Sinai Medical Center of Florida, 6.75%, 11/15/21 | $ | 1,010 | $ | 1,099,819 | |||||||
Mid-Bay Bridge Authority, RB, Series A, 7.25%, 10/01/40 | 720 | 920,297 | |||||||||
Sumter Landing Community Development District Florida, RB, Sub-Series B, 5.70%, 10/01/38 | 1,490 | 1,389,350 | |||||||||
Tampa-Hillsborough County Expressway Authority, Refunding RB: | |||||||||||
Series A, 5.00%, 7/01/37 | 435 | 491,794 | |||||||||
Series B, 5.00%, 7/01/42 | 790 | 881,656 | |||||||||
Village Community Development District No. 10, Special Assessment Bonds, 5.13%, 5/01/43 | 785 | 773,068 | |||||||||
8,167,009 | |||||||||||
Georgia — 1.4% | |||||||||||
DeKalb Private Hospital Authority, Refunding RB, Children's Healthcare, 5.25%, 11/15/39 | 265 | 294,314 | |||||||||
Metropolitan Atlanta Rapid Transit Authority, RB, Third Series, 5.00%, 7/01/39 | 1,095 | 1,260,805 | |||||||||
1,555,119 | |||||||||||
Hawaii — 0.4% | |||||||||||
State of Hawaii Harbor System, RB, Series A, 5.25%, 7/01/30 | 425 | 496,460 | |||||||||
Illinois — 14.5% | |||||||||||
Chicago Illinois Board of Education, GO, 5.50%, 12/01/39 | 625 | 730,631 | |||||||||
Chicago Illinois Transit Authority, RB, Sales Tax Receipts Revenue, 5.25%, 12/01/40 | 330 | 377,857 | |||||||||
City of Chicago Illinois, GARB, O'Hare International Airport, General Third Lien: | |||||||||||
Series A, 5.63%, 1/01/35 | 800 | 941,432 | |||||||||
Series A, 5.75%, 1/01/39 | 1,500 | 1,766,745 | |||||||||
Series C, 6.50%, 1/01/41 | 1,855 | 2,398,793 | |||||||||
City of Chicago Illinois, GO, Series A, 5.00%, 1/01/34 | 1,430 | 1,594,193 | |||||||||
City of Chicago Illinois, Sales Tax Revenue, Refunding RB, Series A, 5.25%, 1/01/38 | 260 | 299,967 | |||||||||
Illinois Finance Authority, Refunding RB: | |||||||||||
5.00%, 11/15/37 | 305 | 346,758 | |||||||||
5.00%, 11/15/42 | 555 | 626,445 | |||||||||
Central DuPage Health, Series B, 5.50%, 11/01/39 | 2,500 | 2,838,325 | |||||||||
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
Illinois (concluded) | |||||||||||
Illinois Finance Authority, Refunding RB (concluded): | |||||||||||
Friendship Village Schaumburg, Series A, 5.63%, 2/15/37 | $ | 145 | $ | 146,105 | |||||||
Metropolitan Pier & Exposition Authority, Refunding RB (AGM): | |||||||||||
CAB, Series B, 4.85%, 6/15/44 (a) | 2,980 | 662,663 | |||||||||
McCormick Place Expansion Project, Series B, 5.00%, 6/15/50 | 990 | 1,082,020 | |||||||||
McCormick Place Expansion Project, Series B-2, 5.00%, 6/15/50 | 785 | 857,699 | |||||||||
Railsplitter Tobacco Settlement Authority, RB: | |||||||||||
5.50%, 6/01/23 | 175 | 208,190 | |||||||||
6.00%, 6/01/28 | 940 | 1,128,855 | |||||||||
State of Illinois, RB, Build Illinois, Series B, 5.25%, 6/15/34 | 200 | 229,162 | |||||||||
16,235,840 | |||||||||||
Indiana — 3.6% | |||||||||||
Carmel Redevelopment Authority, Refunding RB, Series A: | |||||||||||
4.00%, 8/01/35 | 355 | 374,532 | |||||||||
4.00%, 8/01/38 | 570 | 596,152 | |||||||||
Indiana Finance Authority, RB: | |||||||||||
First Lien, CWA Authority Project, Series A, 5.25%, 10/01/38 | 500 | 579,485 | |||||||||
Sisters of St. Francis Health, 5.25%, 11/01/39 | 270 | 298,172 | |||||||||
Indiana Finance Authority, Refunding RB, Community Health Network, Series A, 5.00%, 5/01/42 | 595 | 655,113 | |||||||||
Indiana Health Facility Financing Authority, Refunding RB, Methodist Hospital, Inc., 5.38%, 9/15/22 | 1,060 | 1,061,611 | |||||||||
Indiana Municipal Power Agency, RB, Series B, 6.00%, 1/01/39 | 350 | 419,317 | |||||||||
3,984,382 | |||||||||||
Iowa — 1.0% | |||||||||||
Iowa Finance Authority, RB, Alcoa, Inc. Project, 4.75%, 8/01/42 | 365 | 370,862 | |||||||||
Iowa Student Loan Liquidity Corp., Refunding RB, Senior Series A-1, AMT, 5.15%, 12/01/22 | 625 | 718,900 | |||||||||
1,089,762 | |||||||||||
Kansas — 0.4% | |||||||||||
Kansas Development Finance Authority, Refunding RB, Sisters of Leavenworth, Series A, 5.00%, 1/01/40 | 450 | 491,715 | |||||||||
BLACKROCK STRATEGIC MUNICIPAL TRUST | JANUARY 31, 2013 2 |
Schedule of Investments (continued) |
BlackRock Strategic Municipal Trust (BSD) (Percentages shown are based on Net Assets) |
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
Kentucky — 3.1% | |||||||||||
Kentucky Economic Development Finance Authority, RB, Owensboro Medical Health System, Series A, 6.38%, 6/01/40 | $ | 320 | $ | 381,312 | |||||||
Kentucky Economic Development Finance Authority, Refunding RB, Norton Healthcare Inc., Series B (NPFGC), 4.06%, 10/01/24 (a) | 5,000 | 3,127,300 | |||||||||
3,508,612 | |||||||||||
Louisiana — 3.2% | |||||||||||
Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Westlake Chemical Corp., Series A-1, 6.50%, 11/01/35 | 1,055 | 1,249,268 | |||||||||
Louisiana Stadium & Exposition District, Refunding RB, Senior, Series A, 5.00%, 7/01/36 | 110 | 125,742 | |||||||||
Parish of St. John the Baptist Louisiana, RB, Marathon Oil Corp., Series A, 5.13%, 6/01/37 | 1,000 | 1,068,500 | |||||||||
State of Louisiana Gasoline & Fuels Tax Revenue, RB, Second Lien, Series B, 5.00%, 5/01/45 | 1,025 | 1,159,213 | |||||||||
3,602,723 | |||||||||||
Maine — 1.0% | |||||||||||
Maine State Turnpike Authority, RB, Series A, 5.00%, 7/01/42 | 1,000 | 1,150,590 | |||||||||
Maryland — 1.9% | |||||||||||
Maryland EDC, RB, Transportation Facilities Project, Series A, 5.75%, 6/01/35 | 135 | 154,115 | |||||||||
Maryland EDC, Refunding RB, CNX Marine Terminals, Inc., 5.75%, 9/01/25 | 1,000 | 1,116,930 | |||||||||
Maryland Health & Higher Educational Facilities Authority, Refunding RB, Charlestown Community, 6.25%, 1/01/41 | 690 | 791,409 | |||||||||
2,062,454 | |||||||||||
Massachusetts — 1.2% | |||||||||||
Massachusetts Development Finance Agency, RB, Wellesley College Issue, Series J, 5.00%, 7/01/42 | 570 | 664,432 | |||||||||
Massachusetts Health & Educational Facilities Authority, Refunding RB, Partners Healthcare, Series J1, 5.00%, 7/01/39 | 570 | 623,882 | |||||||||
1,288,314 | |||||||||||
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
Michigan — 4.0% | |||||||||||
City of Detroit Michigan Water Supply System, RB, Senior Lien, Series A, 5.25%, 7/01/41 | $ | 1,500 | $ | 1,621,695 | |||||||
Kalamazoo Hospital Finance Authority, Refunding RB, Bronson Methodist Hospital, 5.50%, 5/15/36 | 435 | 482,837 | |||||||||
Lansing Board of Water & Light Utilities System, RB, Series A, 5.50%, 7/01/41 | 465 | 550,890 | |||||||||
Michigan State Hospital Finance Authority, Refunding RB, Henry Ford Health System, Series A, 5.25%, 11/15/46 | 500 | 530,695 | |||||||||
Royal Oak Hospital Finance Authority Michigan, Refunding RB, William Beaumont Hospital, 8.25%, 9/01/39 | 1,000 | 1,278,660 | |||||||||
4,464,777 | |||||||||||
Missouri — 0.3% | |||||||||||
Missouri State Health & Educational Facilities Authority, RB, Senior Living Facilities, Lutheran Senior Home, 5.50%, 2/01/42 | 330 | 353,925 | |||||||||
Nebraska — 1.4% | |||||||||||
Central Plains Energy Project Nebraska, RB, Gas Project No. 3: | |||||||||||
5.25%, 9/01/37 | 260 | 293,865 | |||||||||
5.00%, 9/01/42 | 455 | 499,017 | |||||||||
Douglas County Hospital Authority No. 2, Refunding RB, Health Facilities, Immanuel Obligation Group, 5.63%, 1/01/40 | 720 | 809,949 | |||||||||
1,602,831 | |||||||||||
Nevada — 0.9% | |||||||||||
County of Clark Nevada, Refunding RB, Alexander Dawson School Nevada Project, 5.00%, 5/15/29 | 880 | 962,368 | |||||||||
New Jersey — 4.0% | |||||||||||
Middlesex County Improvement Authority, RB, Subordinate Heldrich, Center Hotel, Series B, 6.25%, 1/01/37 (c)(d) | 645 | 48,014 | |||||||||
New Jersey EDA, RB, Continental Airlines, Inc. Project, AMT: | |||||||||||
6.40%, 9/15/23 | 470 | 482,568 | |||||||||
6.25%, 9/15/29 | 145 | 147,765 | |||||||||
New Jersey EDA, Refunding RB, 5.00%, 6/15/24 | 305 | 352,992 | |||||||||
New Jersey State Turnpike Authority, RB, Series E, 5.25%, 1/01/40 | 1,355 | 1,520,689 | |||||||||
New Jersey Transportation Trust Fund Authority, RB, Transportation System, Series A, 5.50%, 6/15/41 | 575 | 668,225 | |||||||||
BLACKROCK STRATEGIC MUNICIPAL TRUST | JANUARY 31, 2013 3 |
Schedule of Investments (continued) |
BlackRock Strategic Municipal Trust (BSD) (Percentages shown are based on Net Assets) |
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
New Jersey (concluded) | |||||||||||
Port Authority of New York & New Jersey, RB, JFK International Air Terminal, 6.00%, 12/01/42 | $ | 395 | $ | 469,568 | |||||||
Tobacco Settlement Financing Corp. New Jersey, Refunding RB, Series 1A, 4.50%, 6/01/23 | 770 | 768,067 | |||||||||
4,457,888 | |||||||||||
New York — 6.0% | |||||||||||
Albany Industrial Development Agency, RB, New Covenant Charter School Project, Series A, 7.00%, 5/01/35 (c)(d) | 315 | 47,231 | |||||||||
Metropolitan Transportation Authority, RB, Series E, 5.00%, 11/15/42 | 170 | 192,328 | |||||||||
Metropolitan Transportation Authority, Refunding RB, Transportation, Series D, 5.25%, 11/15/40 | 385 | 435,608 | |||||||||
New York City Industrial Development Agency, RB, AMT: | |||||||||||
American Airlines Inc., JFK International Airport, 7.75%, 8/01/31 (b)(c)(d) | 3,000 | 3,449,700 | |||||||||
British Airways Plc Project, 7.63%, 12/01/32 | 1,000 | 1,025,090 | |||||||||
New York Liberty Development Corp., Refunding RB, Second Priority, Bank of America Tower at One Bryant Park Project, 6.38%, 7/15/49 | 385 | 457,507 | |||||||||
New York State Thruway Authority, Refunding RB, Series I, 5.00%, 1/01/42 | 555 | 625,069 | |||||||||
Port Authority of New York & New Jersey, RB, JFK International Air Terminal, 6.00%, 12/01/36 | 410 | 487,400 | |||||||||
6,719,933 | |||||||||||
North Carolina — 0.4% | |||||||||||
North Carolina Medical Care Commission, RB, Duke University Health System, Series A, 5.00%, 6/01/42 | 440 | 489,465 | |||||||||
Ohio — 2.3% | |||||||||||
County of Hamilton Ohio, RB, Christ Hospital Project, 5.00%, 6/01/42 | 575 | 621,253 | |||||||||
County of Montgomery Ohio, Refunding RB, Catholic Healthcare, Series A, 5.00%, 5/01/39 | 885 | 956,313 | |||||||||
State of Ohio, RB, Ford Motor Co. Project, AMT, 5.75%, 4/01/35 | 1,000 | 1,039,290 | |||||||||
2,616,856 | |||||||||||
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
Oregon — 0.8% | |||||||||||
City of Tigard Washington County Oregon, Refunding RB, Water System, 5.00%, 8/01/37 | $ | 80 | $ | 92,925 | |||||||
Oregon State Facilities Authority, RB, (AGC), 5.00%, 7/01/44 | 715 | 791,920 | |||||||||
884,845 | |||||||||||
Pennsylvania — 1.2% | |||||||||||
Allegheny County Hospital Development Authority, Refunding RB, Health System West Penn, Series A, 5.38%, 11/15/40 | 735 | 624,735 | |||||||||
Pennsylvania Economic Development Financing Authority, RB, Aqua Pennsylvania, Inc. Project, 5.00%, 11/15/40 | 600 | 669,672 | |||||||||
1,294,407 | |||||||||||
Puerto Rico — 3.0% | |||||||||||
Puerto Rico Sales Tax Financing Corp., RB, Sub-Series Series A, 6.50%, 8/01/44 | 1,770 | 2,009,163 | |||||||||
Puerto Rico Sales Tax Financing Corp., Refunding RB, CAB, Series C, 5.57%, 8/01/39 (a) | 5,910 | 1,378,212 | |||||||||
3,387,375 | |||||||||||
South Carolina — 3.4% | |||||||||||
South Carolina Jobs, EDA, RB, Palmetto Health, Series C (e): | |||||||||||
7.00%, 8/01/13 | 2,225 | 2,299,849 | |||||||||
7.00%, 8/01/13 | 275 | 284,251 | |||||||||
South Carolina State Ports Authority, RB, 5.25%, 7/01/40 | 1,040 | 1,172,423 | |||||||||
3,756,523 | |||||||||||
South Dakota — 0.3% | |||||||||||
South Dakota Health and Educational Facilities Authority, RB, 5.00%, 11/01/42 | 335 | 367,478 | |||||||||
Tennessee — 0.1% | |||||||||||
Rutherford County Health & Educational Facilities Board, RB, Ascension Health, Series C, 5.00%, 11/15/47 | 65 | 73,633 | |||||||||
Texas — 18.1% | |||||||||||
Brazos River Authority, RB, TXU Electric, Series A, AMT, 8.25%, 10/01/30 | 730 | 130,502 | |||||||||
Central Texas Regional Mobility Authority, Refunding RB, Senior Lien, 6.25%, 1/01/46 | 680 | 802,121 | |||||||||
City of Austin Texas, Refunding RB, Water & Wastewater System Revenue, 5.00%, 11/15/37 | 200 | 233,704 | |||||||||
BLACKROCK STRATEGIC MUNICIPAL TRUST | JANUARY 31, 2013 4 |
Schedule of Investments (continued) |
BlackRock Strategic Municipal Trust (BSD) (Percentages shown are based on Net Assets) |
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
Texas (concluded) | |||||||||||
City of Dallas Texas Waterworks & Sewer System, Refunding RB, 5.00%, 10/01/35 | $ | 475 | $ | 547,343 | |||||||
City of Houston Texas Airport System, Refunding RB, Senior Lien, Series A, 5.50%, 7/01/39 | 485 | 561,198 | |||||||||
City of Houston Texas Utility System, Refunding RB, Combined, First Lien, Series A (AGC), 6.00%, 11/15/35 | 2,730 | 3,327,106 | |||||||||
Dallas Fort Worth International Airport, Refunding RB, AMT, 5.00%, 11/01/35 | 1,065 | 1,163,491 | |||||||||
Fort Bend County Industrial Development Corp., RB, 4.75%, 11/01/42 | 465 | 478,132 | |||||||||
Harris County-Houston Sports Authority, Refunding RB, CAB, Senior Lien, Series A (NPFGC), 5.36%, 11/15/38 (a) | 4,750 | 1,213,197 | |||||||||
La Joya Independent School District, Refunding GO (PSF-GTD): | |||||||||||
4.00%, 2/15/32 | 1,400 | 1,532,398 | |||||||||
4.00%, 2/15/33 | 1,000 | 1,090,210 | |||||||||
La Vernia Higher Education Finance Corp., RB, KIPP, Inc., 6.38%, 8/15/44 | 500 | 585,590 | |||||||||
Midland County Fresh Water Supply District Number 1, RB, CAB, 4.57%, 9/15/37 (a) | 4,935 | 1,623,714 | |||||||||
North Texas Tollway Authority, RB, CAB, Special Projects System, Series B, 5.12%, 9/01/37 (a) | 640 | 184,768 | |||||||||
North Texas Tollway Authority, Refunding RB, Toll, Second Tier, Series F, 6.13%, 1/01/31 | 1,025 | 1,133,435 | |||||||||
Tarrant County Cultural Education Facilities Finance Corp., RB, Scott & White Healthcare, 6.00%, 8/15/45 | 1,270 | 1,506,512 | |||||||||
Texas Municipal Gas Acquisition & Supply Corp. III, RB, 5.00%, 12/15/29 | 595 | 649,246 | |||||||||
Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien: | |||||||||||
LBJ Infrastructure Group LLC LBJ Freeway Managed Lanes Project, 7.00%, 6/30/40 | 1,000 | 1,216,640 | |||||||||
NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, 6.88%, 12/31/39 | 500 | 598,100 | |||||||||
Texas State Public Finance Authority, Refunding ERB, KIPP, Inc., Series A (ACA), 5.00%, 2/15/36 | 500 | 510,045 | |||||||||
University of Texas System, Refunding RB, Financing System, Series B, 5.00%, 8/15/43 | 970 | 1,139,556 | |||||||||
20,227,008 | |||||||||||
Par (000) |
Value | ||||||||||
Municipal Bonds | |||||||||||
Utah — 0.6% | |||||||||||
County of Utah, RB, IHC Health Services, Inc., 5.00%, 5/15/43 | $ | 635 | $ | 716,134 | |||||||
Virginia — 6.4% | |||||||||||
City of Norfolk Virginia Parking System, Refunding RB, Series B (AMBAC), 5.50%, 2/01/31 (e) | 355 | 355,433 | |||||||||
Fairfax County EDA, Refunding RB, Goodwin House Inc., 5.13%, 10/01/42 | 1,000 | 1,036,200 | |||||||||
Route 460 Funding Corp. of Virgina Toll Road, RB, Senior Lien, Series A, 5.13%, 7/01/49 | 390 | 426,473 | |||||||||
University of Virginia, Refunding RB, General, 5.00%, 6/01/40 | 2,500 | 2,882,600 | |||||||||
Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings Project, AMT: | |||||||||||
5.25%, 1/01/32 | 250 | 273,900 | |||||||||
6.00%, 1/01/37 | 1,500 | 1,724,520 | |||||||||
5.50%, 1/01/42 | 365 | 398,609 | |||||||||
7,097,735 | |||||||||||
Washington — 1.1% | |||||||||||
Washington Health Care Facilities Authority, RB, Swedish Health Services, Series A, 6.75%, 5/15/21 (e) | 630 | 886,334 | |||||||||
Washington Health Care Facilities Authority, Refunding RB, Providence Health & Services, Series A, 5.00%, 10/01/42 | 320 | 359,901 | |||||||||
1,246,235 | |||||||||||
Wisconsin — 2.1% | |||||||||||
Wisconsin Health & Educational Facilities Authority, RB, Ascension Health Credit Group, Series A, 5.00%, 11/15/31 | 2,165 | 2,391,459 | |||||||||
Wyoming — 1.6% | |||||||||||
County of Sweetwater Wyoming, Refunding RB, Idaho Power Co. Project, 5.25%, 7/15/26 | 975 | 1,109,628 | |||||||||
Wyoming Municipal Power Agency, RB, Series A: | |||||||||||
5.00%, 1/01/42 | 95 | 103,029 | |||||||||
5.38%, 1/01/42 | 500 | 566,105 | |||||||||
1,778,762 | |||||||||||
Total Municipal Bonds – 114.3% | 127,724,623 | ||||||||||
BLACKROCK STRATEGIC MUNICIPAL TRUST | JANUARY 31, 2013 5 |
Schedule of Investments (continued) |
BlackRock Strategic Municipal Trust (BSD) (Percentages shown are based on Net Assets) |
Par (000) |
Value | |||||||||
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f) |
||||||||||
Alabama — 0.7% | ||||||||||
Alabama Special Care Facilities Financing Authority-Birmingham, Refunding RB, Ascension Health Senior Credit, Series C-2, 5.00%, 11/15/36 | $ | 760 | $ | 818,273 | ||||||
Arizona — 0.8% | ||||||||||
Salt River Project Agricultural Improvement & Power District, RB, Series A, 5.00%, 1/01/38 | 770 | 876,030 | ||||||||
California — 7.2% | ||||||||||
California Educational Facilities Authority, RB, University of Southern California, Series A, 5.25%, 10/01/39 (g) | 855 | 1,001,145 | ||||||||
City of Los Angeles California Department of Airports, Refunding RB, Senior, Los Angeles International Airport, Series A, 5.00%, 5/15/40 | 1,880 | 2,127,041 | ||||||||
Los Angeles Community College District California, GO, Election of 2001, Series A (AGM), 5.00%, 8/01/32 | 740 | 846,257 | ||||||||
San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/33 | 553 | 672,668 | ||||||||
San Francisco City & County Public Utilities Commission, RB, Series B, 5.00%, 11/01/39 | 2,970 | 3,370,178 | ||||||||
8,017,289 | ||||||||||
Colorado — 1.9% | ||||||||||
Colorado Health Facilities Authority, RB, Catholic Health (AGM), (FSA): | ||||||||||
C-3, 5.10%, 10/01/41 | 1,210 | 1,319,602 | ||||||||
C-7, 5.00%, 9/01/36 | 780 | 839,849 | ||||||||
2,159,451 | ||||||||||
Connecticut — 3.2% | ||||||||||
Connecticut State Health & Educational Facility Authority, RB, Yale University: | ||||||||||
Series T-1, 4.70%, 7/01/29 | 1,580 | 1,776,536 | ||||||||
Series X-3, 4.85%, 7/01/37 | 1,541 | 1,741,123 | ||||||||
3,517,659 | ||||||||||
Illinois — 0.9% | ||||||||||
City of Chicago Illinois Waterworks, Refunding RB, 5.00%, 11/01/42 | 920 | 1,039,983 | ||||||||
Maryland — 1.3% | ||||||||||
Maryland Health & Higher Educational Facilities Authority, RB, 5.00%, 11/15/51 | 1,320 | 1,477,080 | ||||||||
Par (000) |
Value | |||||||||
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f) |
||||||||||
Massachusetts — 3.5% | ||||||||||
Massachusetts School Building Authority, RB, Senior, Series B, 5.00%, 10/15/41 | $ | 1,430 | $ | 1,648,819 | ||||||
Massachusetts Water Resources Authority, Refunding RB, General, Series A, 5.00%, 8/01/41 | 1,980 | 2,230,450 | ||||||||
3,879,269 | ||||||||||
Michigan — 0.9% | ||||||||||
Detroit Water and Sewerage Department, Refunding RB: | ||||||||||
5.00%, 7/01/32 | 500 | 541,344 | ||||||||
5.25%, 7/01/39 | 425 | 462,651 | ||||||||
1,003,995 | ||||||||||
New Hampshire — 0.7% | ||||||||||
New Hampshire Health & Education Facilities Authority, RB, Dartmouth College, 5.25%, 6/01/39 (g) | 645 | 758,761 | ||||||||
New Jersey — 0.8% | ||||||||||
New Jersey Transportation Trust Fund Authority, RB, Transportation, Series B, 5.25%, 6/15/36 | 760 | 871,203 | ||||||||
New York — 11.6% | ||||||||||
Hudson New York Yards Infrastructure Corp., RB, Series A, 5.75%, 2/15/47 | 500 | 596,603 | ||||||||
New York City Municipal Water Finance Authority, Refunding RB, Series FF-2, 5.50%, 6/15/40 | 510 | 601,822 | ||||||||
New York City Transitional Finance Authority, RB, Future Tax Secured Revenue, Sub-Series E-1, 5.00%, 2/01/42 | 780 | 896,094 | ||||||||
New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Construction, 5.25%, 12/15/43 | 3,375 | 3,883,019 | ||||||||
New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.75%, 11/15/51 | 2,030 | 2,408,351 | ||||||||
New York State Dormitory Authority, ERB, Series F, 5.00%, 3/15/35 | 4,184 | 4,518,560 | ||||||||
12,904,449 | ||||||||||
Tennessee — 1.3% | ||||||||||
Shelby County Health Educational & Housing Facilities Board, Refunding RB, St. Jude's Children's Research Hospital, 5.00%, 7/01/31 | 1,280 | 1,403,520 | ||||||||
Texas — 3.3% | ||||||||||
County of Harris Texas, RB, Senior Lien, Toll Road, Series A, 5.00%, 8/15/38 (g) | 2,140 | 2,446,983 | ||||||||
BLACKROCK STRATEGIC MUNICIPAL TRUST | JANUARY 31, 2013 6 |
Schedule of Investments (continued) |
BlackRock Strategic Municipal Trust (BSD) (Percentages shown are based on Net Assets) |
Par (000) |
Value | |||||||||
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f) |
||||||||||
Texas (concluded) | ||||||||||
Harris County Texas Metropolitan Transit Authority, Refunding RB, Series A, 5.00%, 11/01/41 | $ | 1,080 | $ | 1,237,043 | ||||||
3,684,026 | ||||||||||
Utah — 1.1% | ||||||||||
City of Riverton Utah Hospital, RB, IHC Health Services Inc., 5.00%, 8/15/41 | 1,155 | 1,277,892 | ||||||||
Virginia — 1.8% | ||||||||||
University of Virginia, Refunding RB, General, 5.00%, 6/01/40 | 1,785 | 2,057,721 | ||||||||
Washington — 3.4% | ||||||||||
Central Puget Sound Regional Transit Authority, RB, Series A (AGM), 5.00%, 11/01/32 | 900 | 1,020,158 | ||||||||
State of Washington, GO, Various Purpose, Series E, 5.00%, 2/01/34 | 2,400 | 2,792,304 | ||||||||
3,812,462 | ||||||||||
Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts – 44.4% |
49,559,063 | |||||||||
Total Long-Term Investments (Cost – $160,917,530) – 158.7% |
177,283,686 | |||||||||
Shares |
Value | |||||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds — 2.5% | ||||||||||||||||
FFI Institutional Tax-Exempt Fund, 0.01% (h)(i) | 2,778,896 | $ | 2,778,896 | |||||||||||||
Par (000) |
||||||||||||||||
Pennsylvania — 0.2% | ||||||||||||||||
Beaver County IDA, Refunding RB, VRDN, Pennsylvania Electric Co. Project, 0.06%, 2/05/13 (j) | $ | 200 | 200,000 | |||||||||||||
Total Short-Term Securities (Cost – $2,978,896) – 2.7% |
2,978,896 | |||||||||||||||
Total Investments (Cost - $163,896,426*) – 161.4% | 180,262,582 | |||||||||||||||
Other Assets Less Liabilities – 1.2% | 1,301,464 | |||||||||||||||
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable – (24.2)% | (26,994,503) | |||||||||||||||
VMTP Shares, at Liquidation Value – (38.4)% | (42,900,000) | |||||||||||||||
Net Assets Applicable to Common Shares – 100.0% | $ | 111,669,543 | ||||||||||||||
* As of January 31, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows: | ||||||||||||||||
Tax cost | $ | 136,943,277 | ||||||||||||||
Gross unrealized appreciation | $ | 18,141,851 | ||||||||||||||
Gross unrealized depreciation | (1,803,227) | |||||||||||||||
Net unrealized appreciation | $ | 16,338,624 | ||||||||||||||
Notes to Schedule of Investments |
||||||||||||||||||||||||||||||||||||||||
(a) | Represents a zero-coupon bond. Rate shown reflects the current yield as of report date | |||||||||||||||||||||||||||||||||||||||
(b) | Variable rate security. Rate shown is as of report date | |||||||||||||||||||||||||||||||||||||||
(c) | Issuer filed for bankruptcy and/or is in default of principal and/or interest payments | |||||||||||||||||||||||||||||||||||||||
(d) | Non-income producing security | |||||||||||||||||||||||||||||||||||||||
(e) | US government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par. | |||||||||||||||||||||||||||||||||||||||
(f) | Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction | |||||||||||||||||||||||||||||||||||||||
(g) | All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements is $2,069,678 | |||||||||||||||||||||||||||||||||||||||
(h) | Investments in issuers considered to be an affiliate of the Trust during the period ended January 31, 2013, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: | |||||||||||||||||||||||||||||||||||||||
Affiliate | Shares Held at April 30, 2012 |
Net Activity |
Shares Held at January 31, 2013 |
Income | ||||||||||||||||||||||||||||||||||||
FFI Institutional Tax-Exempt Fund | 1,161,303 | 1,617,593 | 2,778,896 | $ | 458 | |||||||||||||||||||||||||||||||||||
BLACKROCK STRATEGIC MUNICIPAL TRUST | JANUARY 31, 2013 7 |
Schedule of Investments (continued) |
BlackRock Strategic Municipal Trust (BSD) |
(i) | Represents the current yield as of report date | |||||||||||||||||||||||||||||||||||||||
(j) | Variable rate security. Rate shown is as of report date and maturity shown is the date the principal owed can be recovered through demand | |||||||||||||||||||||||||||||||||||||||
Portfolio Abbreviations |
||||||||||||||||||||||||||||||||||||||||
To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list: | ||||||||||||||||||||||||||||||||||||||||
ACA | American Capital Access Corp. | |||||||||||||||||||||||||||||||||||||||
AGC | Assured Guaranty Corp. | |||||||||||||||||||||||||||||||||||||||
AGM | Assured Guaranty Municipal Corp. | |||||||||||||||||||||||||||||||||||||||
AMBAC | American Municipal Bond Assurance Corp. | |||||||||||||||||||||||||||||||||||||||
AMT | Alternative Minimum Tax (subject to) | |||||||||||||||||||||||||||||||||||||||
CAB | Capital Appreciation Bonds | |||||||||||||||||||||||||||||||||||||||
COP | Certificates of Participation | |||||||||||||||||||||||||||||||||||||||
EDA | Economic Development Authority | |||||||||||||||||||||||||||||||||||||||
EDC | Economic Development Corp. | |||||||||||||||||||||||||||||||||||||||
ERB | Education Revenue Bonds | |||||||||||||||||||||||||||||||||||||||
FSA | Financial Security Assurance, Inc. | |||||||||||||||||||||||||||||||||||||||
GARB | General Airport Revenue Bonds | |||||||||||||||||||||||||||||||||||||||
GO | General Obligation Bonds | |||||||||||||||||||||||||||||||||||||||
IDA | Industrial Development Authority | |||||||||||||||||||||||||||||||||||||||
NPFGC | National Public Finance Guarantee Corp. | |||||||||||||||||||||||||||||||||||||||
PSF-GTD | Permanent School Fund Guaranteed | |||||||||||||||||||||||||||||||||||||||
RB | Revenue Bonds | |||||||||||||||||||||||||||||||||||||||
VRDN | Variable Rate Demand Notes | |||||||||||||||||||||||||||||||||||||||
• | Fair Value Measurements - Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows: | |||||||||||||||||||||||||||||||||||||||
• | Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and liabilities that the Trust has the ability to access | |||||||||||||||||||||||||||||||||||||||
• | 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 hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety | ||||||||||||||||||||||||||||||||||||||||
Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust's policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment and is not necessarily an indication of the risks 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 | ||||||||||||||||||||||||||||||||||||||||
The following table summarizes the Trust’s investments categorized in the disclosure hierarchy as of January 31, 2013: | ||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||||||||||
Investments: | ||||||||||||||||||||||||||||||||||||||||
Long-Term Investments1 | — | $ | 177,283,686 | — | $ | 177,283,686 | ||||||||||||||||||||||||||||||||||
Short-Term Securities | $ | 2,778,896 | 200,000 | — | 2,978,896 | |||||||||||||||||||||||||||||||||||
Total | $ | 2,778,896 | $ | 177,483,686 | — | $ | 180,262,582 | |||||||||||||||||||||||||||||||||
1 | See above Schedule of Investments for values in each state or political subdivision | |||||||||||||||||||||||||||||||||||||||
BLACKROCK STRATEGIC MUNICIPAL TRUST | JANUARY 31, 2013 8 |
Schedule of Investments (concluded) |
BlackRock Strategic Municipal Trust (BSD) |
Certain of the Trust’s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of January 31, 2013, such liabilities are categorized within the disclosure hierarchy as follows: | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Liabilities: | |||||||||||||||
TOB trust certificates | — | $ | (26,980,681) | — | $ | (26,980,681) | |||||||||
VMTP shares | — | (42,900,000) | — | (42,900,000) | |||||||||||
Total | — | $ | (69,880,681) | — | $ | (69,880,681) | |||||||||
There were no transfers between levels during the period ended January 31, 2013.
BLACKROCK STRATEGIC MUNICIPAL TRUST | JANUARY 31, 2013 9 |
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 13a-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.
The BlackRock Strategic Municipal Trust
By: | /s/ John M. Perlowski | ||
John M. Perlowski | |||
Chief Executive Officer (principal executive officer) of | |||
The BlackRock Strategic Municipal Trust |
Date: March 26, 2013
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/ John M. Perlowski | ||
John M. Perlowski | |||
Chief Executive Officer (principal executive officer) of | |||
The BlackRock Strategic Municipal Trust |
Date: March 26, 2013
By: | /s/ Neal J. Andrews | ||
Neal J. Andrews | |||
Chief Executive Officer (principal executive officer) of | |||
The BlackRock Strategic Municipal Trust |
Date: March 26, 2013