c54720_nq.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

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 811-10543

Name of Fund: BlackRock Core Bond Trust (BHK)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Core Bond Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 10/31/2008

Date of reporting period: 05/01/2008 – 07/31/2008

Item 1 – Schedule of Investments

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
    Asset-Backed Securities    (000)   Value
    Bank of America Credit Card Trust Series 2008-          
    A9 Class A9, 4.07%, 7/16/12 $ 2,485   $ 2,484,752
    Chase Issuance Trust Series 2007-A17 Class A,          
    5.12%, 10/15/14   2,300     2,310,695
    Chase Issuance Trust Series 2008-A9 Class A9,          
    4.26%, 5/15/13   2,525     2,504,661
    Chase Manhattan Auto Owner Trust Series          
    2005-B Class A4, 4.88%, 6/15/12   2,703     2,721,385
    Citibank Credit Card Issuance Trust Series          
    2006-A2 Class A2, 4.85%, 2/10/11   2,825     2,847,834
    Citibank Omni Master Trust Series 2007-A9A          
    Class A9, 3.558%, 12/23/13 (a)   2,720     2,736,708
    Daimler Chrysler Auto Trust Series 2006-A          
    Class A3, 5%, 5/08/10   1,014     1,020,890
    Ford Credit Auto Owner Trust Series 2006-A          
    Class A4, 5.07%, 12/15/10   2,850     2,893,670
    Harley-Davidson Motorcycle Trust Series 2005-          
    2 Class A2, 4.07%, 2/15/12   1,610     1,617,639
    Home Equity Asset Trust Series 2007-2 Class          
    2A1, 2.571%, 7/25/37 (a)   879     826,431
    JPMorgan Mortgage Acquisition Corp. Series          
    2007-CH5 Class A3, 2.571%, 6/25/37 (a)   3,635     2,854,929
    MBNA Credit Card Master Note Trust Series          
    2006-A1 Class A1, 4.90%, 7/15/11   2,825     2,849,624
    SLM Student Loan Trust Series 2005-5 Class          
    A1, 4.10%, 1/25/18 (a)   289     288,344
    SLM Student Loan Trust Series 2008-5 Class          
    A2, 3.90%, 10/25/16 (a)   3,200     3,203,936
    SLM Student Loan Trust Series 2008-5 Class          
    A3, 2.80%, 1/25/18 (a)   810     827,342
    SLM Student Loan Trust Series 2008-5 Class          
    A4, 4.50%, 7/25/23 (a)   2,180     2,245,160
    Small Business Administration Series 2003-          
    P10B Class 1, 5.136%, 8/10/13   1,023     1,023,457
    Small Business Administration Series 2004-          
    P10B Class 1, 4.754%, 8/10/14   591     574,941
    Sterling Bank Trust Series 2004-2 Class Note,          
    2.081%, 3/30/30 (b)   7,262     372,187
    Sterling Coofs Trust Series 1, 2.362%, 4/15/29 (b)   9,987     745,897
    USAA Auto Owner Trust Series 2006-1 Class          
    A4, 5.04%, 12/15/11   2,725     2,773,033
    Total Asset-Backed Securities - 11.5%          39,723,515

1

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
Industry    Corporate Bonds    (000)   Value 
Aerospace & Defense - 1.1%    CHC Helicopter Corp., 7.375%, 5/01/14 $ 405   $ 420,694
    DRS Technologies, Inc., 6.875%, 11/01/13   70     70,350
    DRS Technologies, Inc., 7.625%, 2/01/18   80     83,200
    Hexcel Corp., 6.75%, 2/01/15   140     135,450
    Honeywell International, Inc., 5.70%, 3/15/37   975     900,229
    Northrop-Grumman Corp., 7.875%, 3/01/26   960     1,112,413
    TransDigm, Inc., 7.75%, 7/15/14   120     117,000
    United Technologies Corp., 4.875%, 5/01/15   1,125     1,121,264
              3,960,600
Air Freight & Logistics - 0.5%    Park-Ohio Industries, Inc., 8.375%, 11/15/14   120     99,000
    United Parcel Service, Inc., 6.20%, 1/15/38   1,650     1,636,683
              1,735,683
Airlines - 0.0%    American Airlines, Inc. Series 99-1, 7.324%, 4/15/11   115     106,088
Auto Components - 0.1%    Lear Corp., 8.75%, 12/01/16   360     284,400
    Metaldyne Corp., 10%, 11/01/13   250     102,500
              386,900
Automobiles - 0.2%    Ford Capital BV, 9.50%, 6/01/10   600     504,000
Building Products - 0.1%    CPG International I, Inc., 10.50%, 7/01/13   200     158,000
    Momentive Performance Materials, Inc., 11.50%,          
    12/01/16   405     311,850
              469,850
Capital Markets - 3.1%    Credit Suisse Guernsey Ltd., 5.86% (a)(c)   1,550     1,260,396
    The Goldman Sachs Group, Inc., 6.75%, 10/01/37   975     861,752
    Lehman Brothers Holdings, Inc., 4.476%,          
    9/15/22 (a)   525     483,411
    Lehman Brothers Holdings, Inc. Series MTN,          
    7%, 9/27/27   1,250     1,104,795
    Morgan Stanley, 3.041%, 1/09/12 (a)   1,340     1,226,955
    Morgan Stanley, 6.25%, 8/28/17   1,700     1,537,444
    Morgan Stanley, 6.25%, 8/09/26   525     449,141
    Morgan Stanley Series F, 5.55%, 4/27/17   1,375     1,201,410
    UBS AG Series DPNT, 5.875%, 12/20/17 (n)   2,575     2,504,875
              10,630,179
Chemicals - 0.7%    American Pacific Corp., 9%, 2/01/15   250     241,875
    Ames True Temper, Inc., 6.791%, 1/15/12 (a)   650     516,750
    Huntsman LLC, 11.50%, 7/15/12   66     68,805
    Ineos Group Holdings Plc, 7.875%, 2/15/16 (d) EUR 285     283,404
    Innophos, Inc., 8.875%, 8/15/14 $ 885     885,000
    Key Plastics LLC, 11.75%, 3/15/13 (d)   515     180,250
    Terra Capital, Inc. Series B, 7%, 2/01/17   80     79,000
              2,255,084
Commercial Banks - 4.2%    Barclays Bank Plc, 7.434% (a)(c)(d)   1,975     1,700,125
    Credit Agricole SA, 6.637% (a)(c)(d)   250     197,375

2

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
Industry    Corporate Bonds    (000)     Value 
    DEPFA ACS Bank, 5.125%, 3/16/37 (d) $ 3,775   $ 3,497,228
    HBOS Treasury Services Plc, 3.75%, 9/30/08 (d)   825     823,384
    HSBC Bank USA NA, 5.875%, 11/01/34   775     670,618
    HSBC Finance Corp., 6.50%, 5/02/36   300     273,557
    Royal Bank of Scotland Group Plc Series          
    MTN, 7.64% (a)(c)(n)   2,200     1,837,704
    SunTrust Banks, Inc., 4%, 10/15/08   995     994,660
    SunTrust Bank Series CD, 4.415%, 6/15/09   1,265     1,268,832
    Wachovia Bank NA, 6.60%, 1/15/38   1,925     1,513,033
    Wells Fargo & Co., 3.12%, 8/15/08   1,031     1,030,656
    Wells Fargo & Co., 4.20%, 1/15/10   230     230,112
    Wells Fargo & Co., 4.875%, 1/12/11   435     440,392
              14,477,676
Commercial Services &    DI Finance Series B, 9.50%, 2/15/13   598     592,768
Supplies - 0.7%    FTI Consulting, Inc., 7.75%, 10/01/16   100     102,250
    Sally Holdings LLC, 10.50%, 11/15/16   281     270,463
    Waste Services, Inc., 9.50%, 4/15/14   590     592,950
    West Corp., 11%, 10/15/16   1,100     874,500
              2,432,931
Communications    Nortel Networks Ltd., 7.041%, 7/15/11 (a)   670     631,475
Equipment - 0.4%    Nortel Networks Ltd., 10.75%, 7/15/16 (d)   750     735,000
              1,366,475
Computers & Peripherals - 0.9%    International Business Machines Corp.,          
    5.70%, 9/14/17 (n)   3,125     3,171,341
Consumer Finance - 0.1%    SLM Corp. Series A, 3.10%, 1/27/14 (a)   550     443,185
Containers & Packaging - 0.7%    Berry Plastic Holdings, 8.875%, 9/15/14   95     76,000
    Crown Americas LLC, 7.75%, 11/15/15   150     154,875
    Impress Holdings BV, 5.916%, 9/15/13 (a)(d)   300     265,500
    Owens-Brockway Glass Container, Inc.,          
    8.25%, 5/15/13   1,500     1,537,500
    Pregis Corp., 12.375%, 10/15/13   545     523,200
              2,557,075
Diversified Financial    Bank of America Corp., 6%, 9/01/17   1,590     1,530,567
Services - 9.1%    Bank of America Corp., 5.75%, 12/01/17 (n)   2,355     2,209,689
    Bank of America Corp., Series K, 8% (a)(c)   1,360     1,254,600
    Bank of America NA, 6.10%, 6/15/17   1,975     1,895,637
    Citigroup, Inc., 3.625%, 2/09/09 (e)   3,950     3,941,504
    Citigroup, Inc., 4.25%, 7/29/09 (n)   1,020     1,020,299
    Citigroup, Inc., 4.125%, 2/22/10 (e)   4,790     4,728,894
    Citigroup, Inc., 8.30%, 12/21/77 (a)   2,225     2,031,596
    Citigroup, Inc., 6.875%, 2/15/98   525     444,550
    Ford Motor Credit Co. LLC, 5.538%, 1/13/12 (a)   125     90,627
    Ford Motor Credit Co. LLC, 7.80%, 6/01/12   340     255,355
    General Electric Capital Corp., 6.15%, 8/07/37 (n)   6,855     6,475,493
    General Electric Capital Corp., 5.875%, 1/14/38   1,525     1,369,497

3

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
Industry    Corporate Bonds    (000)     Value 
    JPMorgan Chase & Co., 6%, 1/15/18 $ 125   $ 121,280
    JPMorgan Chase Capital XXV, 6.80%, 10/01/37 (n)   2,780     2,348,939
    Structured Asset Repackaged Trust, 3.761%,          
    1/21/10   1,749     1,722,940
              31,441,467
Diversified Telecommunication    AT&T, Inc., 6.45%, 6/15/34   780     737,309
Services - 5.9%    AT&T, Inc., 6.50%, 9/01/37 (n)   2,875     2,764,014
    AT&T, Inc., 6.30%, 1/15/38   600     564,470
    BellSouth Telecommunications, Inc., 6.03%,          
    12/15/95 (f)   1,700     824,527
    Cincinnati Bell, Inc., 7.25%, 7/15/13   210     202,650
    Comcast Cable Holdings LLC, 7.875%, 8/01/13   10     10,767
    Deutsche Telekom International Finance BV,          
    5.75%, 3/23/16 (n)   3,000     2,909,598
    Qwest Communications International, Inc.,          
    7.50%, 2/15/14   180     166,050
    Qwest Corp., 6.026%, 6/15/13 (a)   470     435,925
    Telecom Italia Capital SA, 4.95%, 9/30/14   1,075     984,813
    Telecom Italia Capital SA, 6%, 9/30/34   1,550     1,276,510
    Telefonica Emisiones SAU, 7.045%, 6/20/36   1,975     1,996,291
    Telefonica Europe BV, 7.75%, 9/15/10   725     763,083
    Verizon Communications, Inc., 6.40%, 2/15/38   2,125     1,982,653
    Verizon Global Funding Corp., 7.75%, 12/01/30   70     72,755
    Verizon Maryland, Inc. Series B, 5.125%, 6/15/33   125     94,518
    Verizon New Jersey, Inc., 5.875%, 1/17/12   335     338,646
    Verizon New Jersey, Inc., 7.85%, 11/15/29   230     237,061
    Verizon Virginia, Inc. Series A, 4.625%, 3/15/13 (n)   3,150     3,017,511
    Wind Acquisition Finance SA, 10.75%, 12/01/15 (d)   350     362,250
    Windstream Corp., 8.125%, 8/01/13   500     505,000
    Windstream Corp., 8.625%, 8/01/16   230     232,875
              20,479,276
Electric Utilities - 4.3%    DTE Energy Co., 6.35%, 6/01/16   725     723,109
    Duke Energy Carolinas LLC, 6.10%, 6/01/37   315     293,017
    Duke Energy Carolinas LLC, 6%, 1/15/38   825     796,707
    E.ON International Finance BV, 6.65%, 4/30/38 (d)   1,525     1,479,502
    EDP Finance BV, 6%, 2/02/18 (d)   1,125     1,112,120
    Edison Mission Energy, 7.50%, 6/15/13   115     115,575
    Elwood Energy LLC, 8.159%, 7/05/26   118     114,184
    Energy East Corp., 6.75%, 7/15/36   1,500     1,418,120
    Florida Power & Light Co., 4.95%, 6/01/35   950     805,897
    Florida Power Corp., 6.40%, 6/15/38   875     880,035
    Midwest Generation LLC Series B, 8.56%, 1/02/16   75     77,574
    PacifiCorp., 6.25%, 10/15/37   575     552,175

4

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
Industry   Corporate Bonds   (000)      Value 
    Progress Energy Florida, Inc., 6.35%,          
    9/15/37 $ 1,325   $ 1,318,615
    Public Service Co. of Colorado, 6.25%, 9/01/37   1,200     1,192,607
    Southern California Edison Co., 5.625%, 2/01/36   625     581,266
    Southern California Edison Co. Series 05-E,          
    5.35%, 7/15/35   125     111,974
    Southern California Edison Co. Series 08-A,          
    5.95%, 2/01/38   1,075     1,045,034
    The Toledo Edison Co., 6.15%, 5/15/37   350     299,012
    Virginia Electric and Power Co. Series A, 6%,          
    5/15/37   2,000     1,856,646
              14,773,169
Electrical Equipment - 0.3%    Superior Essex Communications LLC, 9%, 4/15/12   945     963,900
Electronic Equipment &    Sanmina-SCI Corp., 8.125%, 3/01/16   1,190     1,059,100
Instruments - 0.3%               
Energy Equipment &    Compagnie Generale de Geophysiques-Veritas, 7.50%,          
Services - 0.6%    5/15/15   55     54,450
    Compagnie Generale de Geophysiques-Veritas, 7.75%,          
    5/15/17   90     89,325
    Grant Prideco, Inc. Series B, 6.125%, 8/15/15   80     79,379
    North American Energy Partners, Inc.,          
    8.75%, 12/01/11   85     85,425
    SemGroup LP, 8.75%, 11/15/15 (d)(g)   315     42,525
    Transocean, Inc., 6.80%, 3/15/38   1,100     1,131,848
    Weatherford International, Inc., 6.80%, 6/15/37   625     624,144
              2,107,096
Food & Staples Retailing - 1.4%    CVS Caremark Corp., 6.25%, 6/01/27   775     747,534
    The Pantry, Inc., 7.75%, 2/15/14   1,000     780,000
    Rite Aid Corp., 7.50%, 3/01/17   775     627,750
    Wal-Mart Stores, Inc., 6.50%, 8/15/37   1,900     1,909,855
    Wal-Mart Stores, Inc., 6.20%, 4/15/38   850     830,742
              4,895,881
Food Products - 0.4%    Kraft Foods, Inc., 7%, 8/11/37   1,455     1,418,020
Gas Utilities - 0.2%    El Paso Natural Gas Co., 8.625%, 1/15/22   265     293,387
    El Paso Natural Gas Co., 8.375%, 6/15/32   225     246,525
    Targa Resources, Inc., 8.50%, 11/01/13   320     304,000
              843,912
Health Care Equipment &    Biomet, Inc., 10.375%, 10/15/17 (h)   340     358,700
Supplies - 0.6%    Biomet, Inc., 11.625%, 10/15/17   340     359,125
    ReAble Therapeutics Finance LLC, 10.875%,          
    11/15/14 (d)   1,380     1,380,000
              2,097,825

5

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
Industry    Corporate Bonds    (000)     Value 
Health Care Providers &    Tenet Healthcare Corp., 6.50%, 6/01/12 $ 1,020   $ 990,675
Services - 0.5%    UnitedHealth Group, Inc., 5.80%, 3/15/36   870     686,823
    WellPoint, Inc., 5.95%, 12/15/34   85     71,560
              1,749,058
Hotels, Restaurants &    American Real Estate Partners LP, 8.125%, 6/01/12   3,165     3,022,575
Leisure - 1.6%    American Real Estate Partners LP, 7.125%, 2/15/13   320     286,400
    Circus and Eldorado Joint Venture, 10.125%,          
    3/01/12   1,000     910,000
    Gaylord Entertainment Co., 6.75%, 11/15/14   150     133,125
    Greektown Holdings, LLC, 10.75%, 12/01/13 (d)(g)   315     226,800
    Harrah's Operating Co., Inc., 10.75%,          
    2/01/18 (d)(h)   880     551,100
    Seneca Gaming Corp. Series B, 7.25%, 5/01/12   260     237,250
    Wynn Las Vegas LLC, 6.625%, 12/01/14   40     36,200
              5,403,450
Household Durables - 0.6%    Belvoir Land LLC Series A-1, 5.27%, 12/15/47   350     248,416
    Irwin Land LLC Series A-1, 5.03%, 12/15/25   525     458,047
    Irwin Land LLC Series A-2, 5.40%, 12/15/47   1,500     1,208,235
    Ohana Military Communities LLC Series 04I,          
    6.193% (c)   350     321,171
              2,235,869
Household Products - 0.3%    Kimberly-Clark, Corp., 6.625%, 8/01/37   850     879,640
IT Services - 0.4%    iPayment, Inc., 9.75%, 5/15/14   240     201,000
    iPayment Investors LP, 12.75%, 7/15/14 (d)(h)   904     903,915
    SunGard Data Systems, Inc., 9.125%, 8/15/13   205     209,613
              1,314,528
Independent Power Producers &    NRG Energy, Inc., 7.25%, 2/01/14   50     48,750
Energy Traders - 0.1%    NRG Energy, Inc., 7.375%, 2/01/16   285     276,450
              325,200
Industrial    Sequa Corp., 11.75%, 12/01/15 (d)   690     600,300
Conglomerates - 0.6%    Sequa Corp., 13.50%, 12/01/15 (d)(h)   1,590     1,450,214
              2,050,514
Insurance - 4.1%    The Allstate Corp., 6.50%, 5/15/57 (a)   1,950     1,679,165
    American International Group, Inc., 8.175%,          
    5/15/58 (a)(d)   1,230     1,101,980
    Berkshire Hathaway Finance Corp., 4.75%, 5/15/12   1,075     1,094,190
    Chubb Corp., 6%, 5/11/37   1,100     975,522
    Hartford Life Global Funding Trusts, 2.946%,          
    9/15/09 (a)   925     924,667
    Lincoln National Corp., 6.05%, 4/20/67 (a)   675     543,080
    MetLife, Inc., 5.70%, 6/15/35   1,525     1,318,067
    Metropolitan Life Global Funding I, 4.25%,          
    7/30/09 (d)   1,150     1,139,973
    Monument Global Funding Ltd., 2.646%,          
    6/16/10 (a)(d)   1,810     1,794,410

6

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
Industry    Corporate Bonds    (000)     Value 
    New York Life Global Funding, 3.875%,          
    1/15/09 (d) $ 850   $ 851,491
    Progressive Corp., 6.70%, 6/15/37 (a)   605     513,591
    Prudential Financial, Inc., 5.70%, 12/14/36   675     542,293
    Prudential Financial, Inc. Series D, 5.90%, 3/17/36   500     415,770
    The Travelers Cos., Inc., 6.25%, 3/15/67 (a)   675     569,572
    ZFS Finance (USA) Trust V, 6.50%, 5/09/67 (a)(d)   675     578,437
              14,042,208
Leisure Equipment &    Quiksilver, Inc., 6.875%, 4/15/15   175     137,375
Products - 0.0%               
Machinery - 0.4%    AGY Holding Corp., 11%, 11/15/14   360     322,200
    Accuride Corp., 8.50%, 2/01/15   265     180,200
    Sunstate Equipment Co. LLC, 10.50%, 4/01/13 (d)   950     745,750
              1,248,150
Marine - 0.3%    Nakilat, Inc. Series A, 6.067%, 12/31/33 (d)   1,050     899,787
    Navios Maritime Holdings, Inc., 9.50%, 12/15/14   141     137,828
              1,037,615
Media - 6.1%    Affinion Group, Inc., 10.125%, 10/15/13   515     517,575
    Affinion Group, Inc., 11.50%, 10/15/15   180     179,100
    CMP Susquehanna Corp., 9.875%, 5/15/14   645     406,350
    Cablevision Systems Corp. Series B, 7.133%,          
    4/01/09 (a)   180     181,125
    Charter Communications Holdings I, LLC, 11%,          
    10/01/15   400     303,000
    Charter Communications Holdings II, LLC, 10.25%,          
    9/15/10   1,450     1,380,800
    Comcast Corp., 6.50%, 1/15/17   1,750     1,763,347
    Comcast Corp., 7.125%, 2/15/28   200     192,565
    Comcast Corp., 6.50%, 11/15/35   625     583,077
    Comcast Corp., 6.45%, 3/15/37   790     723,300
    Comcast Corp., 6.95%, 8/15/37   25     24,078
    Dex Media West LLC, 9.875%, 8/15/13   75     58,875
    DirecTV Holdings LLC, 8.375%, 3/15/13   125     129,063
    EchoStar DBS Corp., 5.75%, 10/01/08   175     175,219
    EchoStar DBS Corp., 7%, 10/01/13   43     40,850
    EchoStar DBS Corp., 7.125%, 2/01/16   75     69,188
    Network Communications, Inc., 10.75%, 12/01/13   155     117,025
    News America Holdings, Inc., 7.70%, 10/30/25   825     856,303
    News America Holdings, Inc., 8.45%, 8/01/34   625     695,569
    News America, Inc., 7.625%, 11/30/28   985     1,037,106
    Nielsen Finance LLC, 10%, 8/01/14   965     972,238
    R.H. Donnelley Corp., 11.75%, 5/15/15 (d)   1,720     1,272,800
    Rainbow National Services LLC, 8.75%, 9/01/12 (d)   200     202,250
    Rainbow National Services LLC, 10.375%,          
    9/01/14 (d)   943     998,401

7

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
Industry    Corporate Bonds    (000)     Value 
    Sirius Satellite Radio, Inc., 9.625%, 8/01/13 $ 70   $ 57,400
    TCI Communications, Inc., 7.875%, 2/15/26   610     634,512
    TL Acquisitions, Inc., 10.50%, 1/15/15 (d)   1,000     880,000
    Time Warner Cable, Inc., 7.30%, 7/01/38   2,525     2,524,442
    Time Warner Cos., Inc., 7.57%, 2/01/24 (n)   3,040     3,032,829
    Time Warner Cos., Inc., 6.95%, 1/15/28   70     65,709
    Time Warner Cos., Inc., 6.625%, 5/15/29   90     81,272
    Time Warner, Inc., 7.625%, 4/15/31   205     203,197
    Time Warner, Inc., 7.70%, 5/01/32   85     84,929
    Windstream Regatta Holdings, Inc., 11%,          
    12/01/17 (d)   823     534,950
              20,978,444
Metals & Mining - 1.6%    AK Steel Corp., 7.75%, 6/15/12   995     1,019,875
    Falconbridge Ltd., 6%, 10/15/15   825     788,693
    Falconbridge Ltd., 6.20%, 6/15/35   1,250     1,038,833
    Freeport-McMoRan Copper & Gold, Inc.,          
    5.883%, 4/01/15 (a)   490     492,362
    Freeport-McMoRan Copper & Gold, Inc.,          
    8.375%, 4/01/17   790     827,525
    Teck Cominco Ltd., 6.125%, 10/01/35   1,430     1,209,521
              5,376,809
Oil, Gas & Consumable    Amerada Hess Corp., 7.125%, 3/15/33   425     451,388
Fuels - 5.6%    Anadarko Petroleum Corp., 6.45%, 9/15/36   2,350     2,261,497
    Berry Petroleum Co., 8.25%, 11/01/16   140     137,900
    Burlington Resources Finance Co., 7.40%,          
    12/01/31   875     982,440
    Canadian Natural Resources, Ltd., 6.25%, 3/15/38   375     354,001
    Canadian Natural Resources, Ltd., 6.75%, 2/01/39   1,025     1,021,570
    Chaparral Energy, Inc., 8.50%, 12/01/15   320     276,000
    Chesapeake Energy Corp., 6.375%, 6/15/15   150     141,750
    Compton Petroleum Finance Corp., 7.625%, 12/01/13   115     112,125
    Conoco Funding Co., 7.25%, 10/15/31   125     140,850
    ConocoPhillips Canada Funding Co., 5.95%,          
    10/15/36   535     525,618
    ConocoPhillips Holding Co., 6.95%, 4/15/29   650     699,976
    Devon Energy Corp., 7.95%, 4/15/32   625     730,323
    EXCO Resources, Inc., 7.25%, 1/15/11   130     128,700
    EnCana Corp., 6.50%, 8/15/34   670     645,924
    EnCana Corp., 6.625%, 8/15/37   700     683,167
    EnCana Corp., 6.50%, 2/01/38   325     312,414
    Encore Acquisition Co., 6%, 7/15/15   40     36,200
    MidAmerican Energy Holdings Co., 5.80%, 10/15/36   700     636,454
    MidAmerican Energy Holdings Co., 5.95%, 5/15/37   800     732,702

8

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
Industry    Corporate Bonds    (000)     Value 
    MidAmerican Energy Holdings Co., 6.50%,          
    9/15/37 $ 1,525   $ 1,504,080
    Nexen, Inc., 6.40%, 5/15/37   550     509,546
    OPTI Canada, Inc., 8.25%, 12/15/14   450     453,375
    Pemex Project Funding Master Trust,          
    9.375%, 12/02/08   833     851,743
    Sabine Pass LNG LP, 7.50%, 11/30/16   330     283,800
    Suncor Energy, Inc., 6.50%, 6/15/38   645     618,276
    TransCanada PipeLines Ltd., 5.85%, 3/15/36   550     475,741
    Valero Energy Corp., 6.625%, 6/15/37   495     439,859
    Whiting Petroleum Corp., 7.25%, 5/01/12   40     39,300
    Whiting Petroleum Corp., 7.25%, 5/01/13   335     327,463
    XTO Energy, Inc., 6.75%, 8/01/37   1,925     1,863,267
    XTO Energy, Inc., 6.375%, 6/15/38   900     834,062
              19,211,511
Paper & Forest    Bowater, Inc., 5.776%, 3/15/10 (a)   80     65,600
Products - 0.5%    Domtar Corp., 7.125%, 8/15/15   60     56,400
    NewPage Corp., 10%, 5/01/12   1,625     1,555,938
              1,677,938
Pharmaceuticals - 1.8%    Bristol-Myers Squibb Co., 5.875%, 11/15/36   340     315,100
    Eli Lilly & Co., 5.55%, 3/15/37 (n)   2,275     2,104,680
    Schering-Plough Corp., 6.55%, 9/15/37   1,125     1,068,199
    Teva Pharmaceutical Finance LLC, 6.15%, 2/01/36   1,445     1,311,268
    Wyeth, 6%, 2/15/36   675     646,970
    Wyeth, 5.95%, 4/01/37   925     875,192
              6,321,409
Real Estate Investment Trusts    AvalonBay Communities, Inc., 6.625%, 9/15/11   350     357,791
(REITs) - 0.1%               
Road & Rail - 0.1%    Canadian National Railway Co., 6.25%, 8/01/34   350     338,831
Semiconductors &    Amkor Technology, Inc., 7.75%, 5/15/13   80     73,200
Semiconductor Equipment - 0.2%    Amkor Technology, Inc., 9.25%, 6/01/16   85     80,538
    Freescale Semiconductor, Inc., 8.875%, 12/15/14   200     169,500
    Freescale Semiconductor, Inc., 9.125%,          
    12/15/14 (h)   290     234,900
              558,138
Software - 0.7%    BMS Holdings, Inc., 9.954%,          
    2/15/12 (a)(d)(h)   102     63,113
    Oracle Corp., 5.75%, 4/15/18 (n)   2,225     2,219,858
              2,282,971
Specialty Retail - 0.9%    AutoNation, Inc., 4.713%, 4/15/13 (a)   150     123,750
    AutoNation, Inc., 7%, 4/15/14   150     129,188
    General Nutrition Centers, Inc., 7.199%,          
    3/15/14 (a)(h)   500     409,846
    General Nutrition Centers, Inc., 10.75%, 3/15/15   400     337,000
    Lazy Days' R.V. Center, Inc., 11.75%, 5/15/12   314     208,810

9

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
        Par      
Industry    Corporate Bonds    (000)     Value 
    Michaels Stores, Inc., 10%, 11/01/14 $ 380   $ 304,950
    Michaels Stores, Inc., 11.375%, 11/01/16   110     77,550
    Sonic Automotive, Inc. Series B, 8.625%, 8/15/13   2,100     1,680,000
              3,271,094
Wireless Telecommunication    Cricket Communications, Inc., 9.375%, 11/01/14   100     98,000
Services - 1.8%    Digicel Group Ltd., 8.875%, 1/15/15 (d)   240     221,400
    Digicel Group Ltd., 9.125%, 1/15/15 (d)(h)   560     506,800
    MetroPCS Wireless, Inc., 9.25%, 11/01/14   80     77,600
    Nordic Telephone Co. Holdings ApS, 8.875%,          
    5/01/16 (d)   770     743,050
    Rogers Communications, Inc., 7.50%, 8/15/38   1,150     1,154,612
    Sprint Capital Corp., 6.875%, 11/15/28   915     725,138
    Vodafone Group Plc, 7.75%, 2/15/10 (n)   2,504     2,617,531
              6,144,131
    Total Corporate Bonds - 64.2%          221,519,387
    Foreign Government Obligations           
    Bundesrepublik Deutscheland Series 07,          
    4.25%, 7/04/39 EUR 740     1,079,510
    France Government Bond, 3.15%, 7/25/32   1,170     2,147,093
    Israel Government AID Bond, 5.50%, 4/26/24 $ 825     885,248
    Israel Government AID Bond, 5.50%, 9/18/33   845     912,494
    Total Foreign Government Obligations - 1.4%          5,024,345
    Non-Government Agency Mortgage-Backed Securities          
Collateralized Mortgage    American Home Mortgage Assets Series 2006-6 Class          
Obligations - 4.1%    A1A, 2.651%, 12/25/46 (a)   355     214,917
    Bear Stearns Adjustable Rate Mortgage Series 2004-8          
    Class 14A1, 5.473%, 11/25/34 (a)   799     778,016
    Citigroup Mortgage Loan Trust, Inc. Series 2005-4          
    Class A, 5.343%, 8/25/35 (a)   722     632,121
    Countrywide Alternative Loan Trust Series 2005-64CB          
    Class 1A15, 5.50%, 12/25/35   1,600     1,164,311
    Countrywide Alternative Loan Trust Series 2006-01A0          
    Class 1A1, 4.251%, 8/25/46 (a)   367     271,921
    Countrywide Alternative Loan Trust Series 2006-0A19          
    Class A1, 2.638%, 2/20/47 (a)   533     328,308
    Countrywide Alternative Loan Trust Series 2006-0A21          
    Class A1, 2.648%, 3/20/47 (a)   984     609,697
    Countrywide Home Loan Mortgage Pass-Through Trust          
    Series 2006-0A5 Class 2A1, 2.661%,          
    4/25/46 (a)   425     257,833
    Deutsche Alt-A Securities, Inc. Alternate Loan Trust          
    Series 2003-3 Class 2A1, 5.50%, 10/25/33   1,300     1,100,325
    Deutsche Alt-A Securities, Inc. Alternate Loan Trust          
    Series 2006-0A1 Class A1, 2.661%,          
    2/25/47 (a)   520     329,471

10

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
    Non-Government Agency Mortgage-Backed   Par      
    Securities    (000)     Value 
    GSR Mortgage Loan Trust Series 2005-AR4          
    Class 6A1, 5.25%, 7/25/35 (a) $ 724   $ 598,628
    GSR Mortgage Loan Trust Series 2006-0A1          
    Class 2A1, 2.651%, 8/25/46 (a)   1,120     795,364
    Harborview Mortgage Loan Trust Series 2006-          
    9 Class 2A1A, 2.668%, 11/19/36 (a)   739     465,257
    Homebanc Mortgage Trust Series 2006-2 Class          
    A1, 2.641%, 12/25/36 (a)   1,109     811,559
    Maryland Insurance Backed Securities Trust          
    Series 2006-1A, 5.55%, 12/10/65   2,500     1,750,000
    Structured Asset Securities Corp. Series 2002-          
    AL1 Class A2, 3.45%, 2/25/32   2,108     1,703,413
    WaMu Mortgage Pass-Through Certificates Series 2005-          
    AR10 Class 1A3, 4.835%, 9/25/35 (a)   1,800     1,576,932
    WaMu Mortgage Pass-Through Certificates Series 2007-          
    0A4 Class 1A, 4.061%, 5/25/47 (a)   506     318,509
    WaMu Mortgage Pass-Through Certificates Series 2007-          
    0A5 Class 1A, 4.041%, 6/25/47 (a)   867     638,522
              14,345,104
Commercial Mortgage-Backed    Banc of America Commercial Mortgage, Inc. Series 2005-          
Securities - 13.0%    1 Class 4A, 4.988%, 11/10/42 (a)   2,180     2,148,562
    CS First Boston Mortgage Securities Corp. Series 2002-          
    CP5 Class A2, 4.94%, 12/15/35   2,720     2,646,210
    Citigroup Commercial Mortgage Trust Series 2008-C7          
    Class A4, 6.096%, 12/10/49 (a)   1,370     1,309,012
    Citigroup/Deutsche Bank Commercial          
    Mortgage Trust Series 2007-CD5 Class A4,          
    5.886%, 11/15/44 (a)   2,500     2,330,383
    Commercial Mortgage Pass-Through          
    Certificates Series 2004-LB3A Class A3, 5.09%,          
    7/10/37 (a)   960     951,545
    First Union National Bank Commercial Mortgage Series          
    2001-C3 Class A3, 6.423%, 8/15/33   2,934     2,995,898
    First Union National Bank Commercial Mortgage Series          
    2001-C4 Class A2, 6.223%, 12/12/33   2,265     2,302,304
    GMAC Commercial Mortgage Securities, Inc. Series 1999-          
    C3 Class A2, 7.179%, 8/15/36 (a)   1,313     1,337,316
    GMAC Commercial Mortgage Securities, Inc. Series 2002-          
    C3 Class A2, 4.93%, 7/10/39   2,350     2,281,357
    Heller Financial Commercial Mortgage Asset Series 1999-          
    PH1 Class A2, 6.847%, 5/15/31 (a)   1,074     1,076,856
    JPMorgan Chase Commercial Mortgage Securities Corp.          
    Series 2001-C1 Class A3, 5.857%, 10/12/35   2,140     2,153,975
    JPMorgan Chase Commercial Mortgage Securities Corp.          
    Series 2004-CB8 Class A1A, 4.158%, 1/12/39   978     916,717

11

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
    Non-Government Agency Mortgage-Backed    Par      
    Securities    (000)     Value 
    JPMorgan Chase Commercial Mortgage          
    Securities Corp. Series 2004-CBX Class A4,          
    4.529%, 1/12/37 $ 2,180   $ 2,120,014
    JPMorgan Chase Commercial Mortgage          
    Securities Corp. Series 2006-LDP9 Class A3,          
    5.336%, 5/15/47   960     883,588
    JPMorgan Commercial Mortgage Finance          
    Corp. Series 2000-C10 Class A2, 7.371%,          
    8/15/32 (a)   1,624     1,669,467
    LB-UBS Commercial Mortgage Trust Series          
    2007-C6 Class A4, 5.858%, 7/15/40 (a)   1,816     1,693,613
    LB-UBS Commercial Mortgage Trust Series          
    2007-C7 Class A3, 5.866%, 9/15/45 (a)   5,000     4,656,263
    Merrill Lynch Mortgage Trust Series 2007-C1          
    Class AM, 5.829%, 6/12/50 (a)(i)   925     823,329
    Morgan Stanley Capital I Series 2005-HQ6          
    Class A4A, 4.989%, 8/13/42   1,475     1,380,528
    Morgan Stanley Capital I Series 2007-IQ16          
    Class A4, 5.809%, 12/12/49   618     572,325
    Morgan Stanley Capital I Series 2007-T27 Class          
    A4, 5.65%, 6/13/42 (a)   995     921,352
    Morgan Stanley Capital I Series 2008-T29 Class          
    A4, 6.28%, 1/11/43 (a)   1,370     1,320,483
    Salomon Brothers Mortgage Securities VII, Inc. Series          
    2000-C1 Class A2, 7.52%, 12/18/09 (a)   3,291     3,375,869
    Wachovia Bank Commercial Mortgage Trust Series 2005-          
    C21 Class A3, 5.209%, 10/15/44 (a)   910     908,466
    Wachovia Bank Commercial Mortgage Trust Series 2006-          
    C25 Class A4, 5.74%, 5/15/43 (a)   1,190     1,139,888
    Wachovia Bank Commercial Mortgage Trust Series 2007-          
    C33 Class A4, 5.90%, 2/15/51 (a)   995     938,235
              44,853,555
    Total Non-Government Agency           
    Mortgage-Backed Securities - 17.1%          59,198,659
    U.S. Government Agency Mortgage-Backed Securities          
    Fannie Mae Guaranteed Pass-Through          
    Certificates:          
         5.00%, 3/01/21 - 7/01/36 (j)   7,380     7,072,769
          5.50%, 8/15/23 - 8/15/38 (j)   51,679     50,717,886
          6.00%, 8/01/29 - 3/01/38   8,519     8,568,220
          7.00%, 1/01/31 - 7/01/32   219     230,472
    Freddie Mac Mortgage Participation          
    Certificates:          
          5.00%, 8/01/33   70     67,106
          5.50%, 11/01/34 - 5/01/36   4,512     4,423,909

12

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
    U.S. Government Agency Mortgage-Backed    Par      
    Securities    (000)     Value
          6.00%, 2/01/13 - 12/01/18 $ 2,147   $ 2,192,996
          6.848%, 5/01/32   47     47,223
          7.00%, 9/01/31   20     20,729
    Ginnie Mae MBS Certificates:          
          5.50%, 8/15/33   190     189,582
          6.50%, 8/21/38 (j)   200     205,500
    Total U.S. Government Agency           
    Mortgage-Backed Securities - 21.4%          73,736,392
    U.S. Government Agency Mortgage-Backed Securities -          
    Collateralized Mortgage Obligations           
    Fannie Mae Trust Series 378 Class 5, 5%,          
    7/01/36 (b)   3,984     1,035,415
    Fannie Mae Trust Series 2004-90 Class JH,          
    4.239%, 11/25/34 (a)(b)   20,918     1,690,606
    Fannie Mae Trust Series 2005-5 Class PK, 5%,          
    12/25/34   2,294     2,311,229
    Freddie Mac Multiclass Certificates Series          
    2579 Class HI, 5%, 8/15/17 (b)   1,814     202,538
    Freddie Mac Multiclass Certificates Series          
    2611 Class QI, 5.50%, 9/15/32 (b)   5,250     936,317
    Freddie Mac Multiclass Certificates Series          
    2684 Class SP, 5.043%, 1/15/33 (a)(b)   395     65,594
    Freddie Mac Multiclass Certificates Series          
    2825 Class VP, 5.50%, 6/15/15   1,201     1,232,840
    Freddie Mac Multiclass Certificates Series          
    3208 Class PS, 4.643%, 8/15/36 (a)(b)   1,979     212,723
    Freddie Mac Multiclass Certificates Series          
    3316 Class SB, 4.743%, 8/15/35 (a)(b)   359     47,039
    Total U.S. Government Agency Mortgage-Backed Securities -           
    Collateralized Mortgage Obligations - 2.2%          7,734,301
    U.S. Government Obligations           
    Federal Housing Administration, Hebre Home Hospital,          
    6.25%, 9/01/28   1,009     1,030,136
    Resolution Funding Corp., 6.30%, 7/15/18 (f)   525     335,931
    Resolution Funding Corp., 6.196%, 10/15/18 (f)   525     329,994
    U.S. Treasury Inflation Indexed Bonds,          
    2.375%, 1/15/27 (n)   1,415     1,569,830
    U.S. Treasury Inflation Indexed Bonds, 1.75%,          
    1/15/28   4,680     4,520,213
    U.S. Treasury Notes, 3.875%, 5/15/18 (n)   16,070     15,931,894
    U.S. Treasury Notes, 5%, 5/15/37 (n)   1,595     1,694,563
    Total U.S. Government Obligations - 7.4%          25,412,561

13

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
    Preferred Securities           
        Par       
Industry    Capital Trusts    (000)      Value 
Commercial Banks - 0.8%    BAC Capital Trust XI, 6.625%, 5/23/36 $ 545   $ 478,929
    RBS Capital Trust IV, 3.496% (a)(c)   475     377,015
    Wachovia Corp. Series K, 7.98% (a)(c)(n)   2,550     1,959,548
              2,815,492
Diversified Financial    Bank of America Corp., Series M, 8.125% (a)(c)   1,050     976,721
Services - 0.8%    JPMorgan Chase & Co., 7.90% (a)(c)(n)   1,925     1,780,664
              2,757,385
Electric Utilities - 0.2%    PECO Energy Capital Trust IV, 5.75%, 6/15/33   790     644,532
    Total Capital Trusts - 1.8%          6,217,409
    Preferred Stocks    Shares       
Commercial Banks - 0.1%    Wachovia Corp. Series J, 8%   25,000     479,500
Diversified Financial    Citigroup, Inc., Series AA, 8.125%   25,500     524,025
Services - 0.2%               
Electrical Equipment - 0.0%    Superior Essex Holding Corp. Series A, 9.50%   45,000     33,750
    Total Preferred Stocks - 0.3%          1,037,275
    Total Preferred Securities - 2.1%          7,254,684
        Beneficial       
        Interest       
    Other Interest (k)    (000)       
Health Care Providers     Critical Care Systems International, Inc. $ 2     637
& Services - 0.0%               
    Total Other Interests - 0.0%          637
    Total Long-Term Investments           
    (Cost - $461,678,401) - 127.3%          439,604,481
        Par       
    Short-Term Securities    (000)       
U.S. Government Agency    Federal Home Loan Bank, 1.82%, 8/01/08 (l)   1,300     1,300,000
Obligations - 0.4%               
    Total Short-Term Securities           
    (Cost - $1,300,000) - 0.4%          1,300,000
    Options Purchased    Contracts (m)       
Call Swaptions Purchased    Receive a fixed rate of 5.12% and pay a floating rate          
    based on 3-month LIBOR, expiring November          
    2010   11     342,408
    Receive a fixed rate of 5.39% and pay a floating rate          
    based on 3-month LIBOR, expiring March 2012   6     342,989
    Receive a fixed rate of 5.47% and pay a floating rate          
    based on 3-month LIBOR, expiring May 2012   11     611,901
    Receive a fixed rate of 6.025% and pay a floating rate          
    based on 3-month LIBOR, expiring June 2012   7     584,114
              1,881,412

14

BlackRock Core Bond Trust 
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
    Options Purchased    Contracts (m)         
Put Swaptions Purchased    Pay a fixed rate of 5.12% and receive a floating rate          
    based on 3-month LIBOR, expiring November          
    2010   11    $ 256,443  
    Pay a fixed rate of 5.39% and receive a floating rate          
    based on 3-month LIBOR, expiring March 2012 6      302,128  
    Pay a fixed rate of 5.47% and receive a floating rate          
    based 3-month LIBOR, expiring May 2012   11      491,142  
    Pay a fixed rate of 6.025% and receive a floating rate          
    based on 3-month LIBOR, expiring June 2012 7      223,043  
              1,272,756  
    Total Options Purchased             
    (Cost - $2,586,422) - 0.9%          3,154,168  
    Total Investments Before TBA Sale Commitments and            
    Options Written (Cost - $465,564,823*) -           
    128.6%          444,058,649  
        Par         
    TBA Sale Commitments    (000)         
    Fannie Mae Guaranteed Pass Through Certificates:          
          5.00%, 3/01/21 - 7/01/36 (n) $ (4,100)     (3,896,202 )
          5.50%, 8/15/23 - 8/15/38 (n)   (19,300)     (18,903,578 )
          6.00%, 8/01/29 - 3/01/38   (2,700)     (2,714,866 )
    Freddie Mac Mortgage Participation Certificates, 5.50%,            
    11/01/34 - 5/01/36   (4,500)     (4,403,358 )
    Ginnie Mae MBS Certificates, 5.50%, 8/15/33 (100)     (98,875 )
    Total TBA Sale Commitments             
    (Proceeds Received - $30,268,824) - (8.7)%        (30,016,879 )
    Options Written    Contracts         
Call Options Written    10-Year U.S. Treasury Bonds, expiring August          
    2008 at $117   68      (12,750 )
    30-Year U.S. Treasury Bonds, expiring November 2008          
    at $118   100      (110,937 )
              (123,687 )
Call Swaptions Written    Pay a fixed rate of 5.01% and receive a floating rate          
    based on 3-month LIBOR, expiring November          
    2008   4 (m)     (125,384 )
    Pay a fixed rate of 4.94% and receive floating rate          
    based on 3-month LIBOR, expiring December 2008 14 (m)     (405,986 )
    Pay a fixed rated of 4.58% and received a floating rate            
    based on 3-month LIBOR, expiring May 2009 9 (m)     (166,851 )

15

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)  (Percentages shown are based on Net Assets)
    Options Written  Contracts      Value   
    Pay a fixed rated of 5.485% and receive a floating rate          
    based on 3-month LIBOR, expiring October          
    2009 4 (m)   $ (252,567 )
    Pay a fixed rated of 5.67% and receive a floating rate          
    based on 3-month LIBOR, expiring January 2010 11 (m)     (747,684 )
    Pay a fixed rate of 5.0825% and receive a floating rate          
    based on 3-month LIBOR, expiring July 2010 2 (m)     (98,892 )
    Pay a fixed rate of 5.05% and receive a floating rate          
    based on 3-month LIBOR, expiring May 2011 10 (m)     (404,570 )
    Pay a fixed rate of 5.08% and receive a floating rate          
    based on 3-month LIBOR, expiring May 2011 6 (m)     (252,052 )
    Pay a fixed rate of 5.325% and receive a floating rate          
    based on 3-month LIBOR, expiring July 2013 8 (m)     (276,559 )
            (2,730,545 )
Put Options Written    10-Year U.S. Treasury Bonds, expiring August          
    2008 at $113 68      (17,000 )
Put Swaptions Written    Receive a fixed rate of 3.10% and pay a floating rate          
    based on 3-month LIBOR, expiring October 2008 19 (m)     (211,614 )
    Receive a fixed rate of 5.01% and pay a floating rate          
    based on 3-month LIBOR, expiring November          
    2008 4 (m)     (48,836 )
    Receive a fixed rate of 4.94% and pay a floating rate          
    based on 3-month LIBOR, expiring December 2008 14 (m)     (246,848 )
    Receive a fixed rate of 4.58% and pay a floating rate          
    based on 3-month LIBOR, expiring May 2009 9 (m)     (384,444 )
    Receive a fixed rate of 5.485% and pay a floating rate          
    based on 3-month LIBOR, expiring October          
    2009 4 (m)     (90,324 )
    Receive a fixed rate of 5.67% and pay a floating rate          
    based on 3-month LIBOR, expiring January 2010 11 (m)     (210,485 )
    Receive a fixed rate of 5.0825% and pay a floating rate          
    based on 3-month LIBOR, expiring July 2010 2 (m)     (107,708 )
    Receive a fixed rate of 5.05% and pay a floating rate          
    based on 3-month LIBOR, expiring May 2011 10 (m)     (528,890 )
    Receive a fixed rate of 5.08% and pay a floating rate          
    based on 3-month LIBOR, expiring May 2011 6 (m)     (314,199 )

16

BlackRock Core Bond Trust           
Schedule of Investments July 31, 2008 (Unaudited)   (Percentages shown are based on Net Assets)
    Options Written  Contracts      Value   
    Receive a fixed rate of 5.325% and pay a floating rate          
    based on 3-month LIBOR, expiring July 2013 8 (m)   $ (273,203 )
            (2,416,551 )
    Total Options Written           
    (Premiums Received - $5,865,577) - (1.5)%        (5,287,783 )
    Total Investments, Net of TBA Sale Commitments           
    and Options Written - 118.4%        408,753,987  
    Liabilities in Excess of Other Assets - (18.4)%        (63,485,206 )
    Net Assets - 100.0%      $ 345,268,781  

 

* The cost and unrealized appreciation (depreciation) of investments as of July 31, 2008, as computed for federal income tax purposes were as follows:
   
Aggregate cost $ 466,736,706  
Gross unrealized appreciation $ 2,871,175  
Gross unrealized depreciation   (25,549,232 )
Net unrealized depreciation $ (22,678,057 )

(a)      Variable rate security. Rate shown is as of report date.
(b)      Represents the interest only portion of a mortgage-backed security and has either a nominal or a notional amount of principal.
(c)      Security is perpetual in nature and has no stated maturity date.
(d)      Security exempt from registration under Rule 144a of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors. Unless otherwise indicated, these securities are considered to be liquid.
(e)      All, or a portion of security pledged as collateral in connection with open financial futures contracts.
(f)      Represents a zero coupon bond. Rate shown reflects the effective yield at the time of purchase.
(g)      Non-income producing security; issuer filed for bankruptcy or is in default of interest payments.
(h)      Represents a pay-in-kind security which may pay interest/dividends in additional face/shares.
(i)      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:
 
  Purchase  Sale  Realized    Interest 
Affiliate  Cost  Cost  Gain    Income 
Merrill Lynch Mortgage Trust Series          
2007-C1 Class AM, 5.829%, 6/12/50 - - - $          48,376

(j)      Represents or includes a to-be-announced transaction. The Trust has committed to purchasing securities for which all specific information is not available at this time.
(k)      Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income producing.
(l)      The interest rates shown reflect the discount rate paid at time of purchase.
(m)    One contract represents a notional amount of $1,000,000.
 

17

BlackRock Core Bond Trust
Schedule of Investments July 31, 2008 (Unaudited)

(n)      All, or a portion of security held as collateral in connection with open reverse repurchase agreements. Reverse repurchase agreements outstanding as of July 31, 2008 were as follows:
 
  Interest  Trade  Maturity    Net Closing    Face 
Counterparty  Rate  Date  Date    Amount    Amount 
Credit Suisse              
           Securities LLC 3.00% 6/26/08 TBD $ 12,368,045   $ 12,330,000
Credit Suisse              
           Securities LLC 2.50% 7/24/08 TBD   1,902,059   1,901,662
JPMorgan Securities              
           Inc. 2.10% 7/30/08 7/31/08   1,177,069   1,177,000
Lehman Brothers              
           International 2.10% 6/12/08 TBD   1,463,730   1,459,219
Lehman Brothers              
           International 2.75% 6/13/08 TBD   25,195,646   25,101,689
Lehman Brothers              
           International 2.40% 7/11/08 8/13/08   43,137,102   43,051,000
Lehman Brothers              
           International 1.55% 7/16/08 TBD   16,221,082   16,210,613
Total        $ 101,464,733   $ 101,231,183

  • For Trust compliance purposes, the Trusts' industry classifications refer to any one or more of the industry sub- classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Trust management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease.
  • Forward foreign currency contracts as of July 31, 2008 were as follows:
 
Currency      Currency    Settlement    Unrealized 
Purchased      Sold    Date    Appreciation 
 $ 964,232   EUR 611,500 10/23/08 $ 14,715
 $ 1,081,352   EUR 683,500 10/23/08   20,036
 $ 5,479,338   EUR 3,501,040 10/23/08   43,039
Total            $ 77,790

  • Financial futures contracts purchased as of July 31, 2008 were as follows:
           
        Expiration       Face      Unrealized 
   Contracts    Issue    Date       Value      Appreciation 
1,070   30-Year U.S. Treasury Bond   September 2008   $ 121,918,678   $ 1,666,322
232   Euro Dollar   March 2009   $  56,160,528     50,172
Total                  $ 1,716,494
 

  • Financial futures contracts sold as of July 31, 2008 were as follows:
           
        Expiration       Face      Unrealized 
   Contracts    Issue    Date       Value      Depreciation 
448   2-Year U.S. Treasury Bond   September 2008   $  94,519,280   $ (456,720)
2,011   5-Year U.S. Treasury Bond   September 2008   $ 223,179,228     (717,343)
166   10-Year U.S. Treasury Bond   September 2008   $  18,870,979     (190,490)
   Total                  $ (1,364,553)

 


18

BlackRock Core Bond Trust         
Schedule of Investments July 31, 2008 (Unaudited)         
• Swaps outstanding as of July 31, 2008 were as follows:            
    Notional      Unrealized   
    Amount      Appreciation   
    (000)      (Depreciation)   
 
           Receive a fixed rate of 4.88% and pay a floating rate based on            
           3-month LIBOR            
           Broker, Lehman Brothers Special Financing            
           Expires August 2009 $ 40,200   $ 769,324  
           Receive a fixed rate of 4.7709% and pay a floating rate based on            
           3-month LIBOR            
           Broker, Lehman Brothers Special Financing            
           Expires August 2009 $ 27,800     490,984  
           Receive a fixed rate of 4.62377% and pay a floating rate based on            
           3-month LIBOR            
           Broker, Credit Suisse First Boston            
           Expires September 2009 $ 50,000     847,488  
           Receive a fixed rate of 5.00% and pay a floating rate based on            
           3-month LIBOR            
           Broker, Deutsche Bank AG London            
           Expires November 2010 $ 4,600     144,369  
           Pay a fixed rate of 4.922% and receive a floating rate based on            
           3-month LIBOR            
           Broker, Lehman Brothers Special Financing            
           Expires March 2011 $ 13,500     (415,590 )
           Receive a fixed rate of 5.496% and pay a floating rate based on            
           3-month LIBOR            
           Broker, Bank of America NA            
           Expires July 2011 $ 25,100     1,218,631  
           Receive a fixed rate of 5.496% and pay a floating rate based on            
           3-month LIBOR            
           Broker, UBS Warburg            
           Expires November 2011 $ 2,200     74,679  
           Receive a fixed rate of 5.025% and pay a floating rate based on            
           3-month LIBOR            
           Broker, Deutsche Bank AG London            
           Expires November 2011 $ 3,000     107,780  

19

BlackRock Core Bond Trust         
Schedule of Investments July 31, 2008 (Unaudited)         
    Notional      Unrealized   
    Amount      Appreciation   
    (000)      (Depreciation)   
         Pay a fixed rate of 5.0016% and receive a floating rate based on            
         3-month LIBOR            
         Broker, UBS Warburg            
         Expires January 2012 $ 8,300   $ (296,689 )
         Pay a fixed rate of 5.58875% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Goldman Sachs & Co.            
         Expires July 2012 $ 42,000     (2,449,388 )
         Receive a fixed rate of 5.07625% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Citibank NA            
         Expires August 2012 $ 82,500     3,269,298  
         Receive a fixed rate of 5.10531% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Goldman Sachs & Co.            
         Expires August 2012 $ 19,500     793,476  
         Receive a fixed rate of 5.0565% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Bank of America NA            
         Expires August 2012 $ 49,300     1,667,408  
         Receive a fixed rate of 4.9034% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Barclays Bank, PLC            
         Expires September 2012 $ 30,000     998,846  
         Receive a fixed rate of 4.856% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Deutsche Bank AG London            
         Expires October 2012 $ 9,400     296,092  
         Receive a fixed rate of 4.32% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Citibank NA            
         Expires November 2012 $ 10,500     108,811  
         Receive a fixed rate of 4.25% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Goldman Sachs & Co.            
         Expires November 2012 $ 2,625     19,928  

20

BlackRock Core Bond Trust         
Schedule of Investments July 31, 2008 (Unaudited)         
    Notional      Unrealized   
    Amount      Appreciation   
    (000)      (Depreciation)   
         Pay a fixed rate of 4.2424% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Lehman Brothers Special Financing            
         Expires December 2012 $ 45,000   $ (351,683 )
         Receive a fixed rate of 3.66375% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Citibank NA            
         Expires April 2013 $ 7,300     (145,645 )
         Receive a fixed rate of 5.29375% and pay a floating rate based on            
         6-month LIBOR            
         Broker, Deutsche Bank AG London            
         Expires April 2013 GBP 3,990     (51,390 )
         Receive a fixed rate of 5.14% and pay a floating rate based on            
         6-month British Pound Sterling LIBOR            
         Broker, Deutsche Bank AG London            
         Expires April 2013 GBP 2,000     (62,357 )
         Receive a fixed rate of 4.2825% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Credit Suisse First Boston            
         Expires July 2013 $ 82,500     426,943  
         Pay a fixed rate of 4.51% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Citibank NA            
         Expires October 2014 $ 41,205     (342,680 )
         Receive a fixed rate of 5.005% and pay a floating rate based on            
         3-month LIBOR            
         Broker, JPMorgan Chase            
         Expires October 2014 $ 9,500     336,749  
         Pay a fixed rate of 4.50% and receive a floating rate based on            
         3-month LIBOR            
         Broker, JPMorgan Chase            
         Expires May 2015 $ 2,800     16,314  
         Receive a fixed rate of 4.725% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Morgan Stanley Capital Services            
         Expires August 2015 $ 6,200     101,829  

21

BlackRock Core Bond Trust         
Schedule of Investments July 31, 2008 (Unaudited)         
    Notional      Unrealized   
    Amount      Appreciation   
    (000)      (Depreciation)   
         Receive a fixed rate of 4.87% and pay a floating rate based on            
         3-month LIBOR Muni Swap Index            
         Broker, Goldman Sachs & Co.            
         Expires January 2016 $ 5,000   $ 121,409  
         Receive a fixed rate of 5.723% and pay a floating rate based on            
         3-month LIBOR            
         Broker, JPMorgan Chase            
         Expires July 2016 $ 4,800     383,588  
         Pay a fixed rate of 5.155% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Citibank NA            
         Expires September 2017 $ 10,900     (419,010 )
         Pay a fixed rate of 5.04015% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Deutsche Bank AG London            
         Expires September 2017 $ 12,500     (378,727 )
         Pay a fixed rate of 5.30755% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Deutsche Bank AG London            
         Expires October 2017 $ 13,800     (695,902 )
         Pay a fixed rate of 5.115% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Lehman Brothers Special Financing            
         Expires March 2018 $ 6,600     (233,234 )
         Receive a fixed rate of 4.311% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Deutsche Bank AG London            
         Expires May 2018 $ 6,600     (186,098 )
         Receive a fixed rate of 4.7058% and pay a floating rate based on            
         3-month LIBOR            
         Broker, UBS Warburg            
         Expires July 2018 $ 8,700     21,776  
         Pay a fixed rate of 4.52165% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Goldman Sachs & Co.            
         Expires July 2018 $ 12,300     151,377  

22

BlackRock Core Bond Trust         
Schedule of Investments July 31, 2008 (Unaudited)         
    Notional      Unrealized   
    Amount      Appreciation  
    (000)      (Depreciation)   
         Pay a fixed rate of 5.411% and receive a floating rate based on            
         3-month LIBOR            
         Broker, JPMorgan Chase            
         Expires August 2022 $ 8,545   $ 460,192  
         Pay a fixed rate of 5.365% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Deutsche Bank AG London            
         Expires September 2027 $ 8,000     (373,650 )
         Pay a fixed rate of 5.0605% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Goldman Sachs & Co.            
         Expires November 2037 $ 6,200     (37,111 )
         Pay a fixed rate of 5.06276% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Citibank NA            
         Expires December 2037 $ 1,300     (7,981 )
         Pay a fixed rate of 5.0639% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Lehman Brothers Special Financing            
         Expires December 2037 $ 1,300     (8,201 )
         Pay a fixed rate of 4.785% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Citibank NA            
         Expires January 2038 $ 2,000     73,758  
         Pay a fixed rate of 4.601% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Lehman Brothers Special Financing            
         Expires January 2038 $ 5,000     326,686  
         Pay a fixed rate of 4.8325% and receive a floating rate based on            
         3-month LIBOR            
         Broker, Morgan Stanley Capital services            
         Expires January 2038 $ 6,000     172,478  
         Receive a fixed rate of 5.2975% and pay a floating rate based on            
         3-month LIBOR            
         Broker, Citibank NA            
         Expires February 2038 $ 700     29,824  

23

BlackRock Core Bond Trust         
Schedule of Investments July 31, 2008 (Unaudited)         
    Notional      Unrealized 
    Amount      Appreciation 
    (000)      (Depreciation) 
         Receive a fixed rate of 5.1575% and pay a floating rate based on          
         3-month LIBOR          
         Broker, Citibank NA          
         Expires June 2038 $ 1,000   $ 20,860
           Total        $ 6,995,561

  • Currency Abbreviations:
    EUR Euro
    GBP British Pound

24

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.
 
  BlackRock Core Bond Trust 
 
  By:  /s/ Donald C. Burke  
    Donald C. Burke 
    Chief Executive Officer of 
    BlackRock Core Bond Trust 
 
  Date: September 19, 2008 
 
  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/ Donald C. Burke  
    Donald C. Burke 
    Chief Executive Officer (principal executive officer) of 
    BlackRock Core Bond Trust 
 
  Date: September 19, 2008 
 
  By:  /s/ Neal J. Andrews  
    Neal J. Andrews 
    Chief Financial Officer (principal financial officer) of 
    BlackRock Core Bond Trust 
 
  Date: September 19, 2008