Edgar Filing: BLACKROCK CORE BOND TRUST

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: John M. Perlowski, Chief Executive Officer, BlackRock Core Bond Trust, 55 East 52^nd Street, New York, NY 10055

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

Date of fiscal year end: 08/31/2011

Date of reporting period: 05/31/2011

Item 1 – Schedule of Investments



Schedule of Investments May 31, 2011 (Unaudited)	BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets)


Asset-Backed Securities	Par (000)		Value
Asset-Backed Securities — 7.2%
321 Henderson Receivables I LLC (a):
Series 2010-1A, Class B, 9.31%, 7/15/61	USD	1,150	$	1,330,117
Series 2010-3A, Class A, 3.82%, 12/15/48		861		855,584
Capital One Multi-Asset Execution Trust, Series 2006-A5, Class A5, 0.25%, 1/15/16 (b)		350		349,250
Citibank Omni Master Trust (a):
Series 2009-A13, Class A13, 5.35%, 8/15/18		795		872,838
Series 2009-A17, Class A17, 4.90%, 11/15/18		805		877,229
Countrywide Asset-Backed Certificates, Series 2006-13, Class 3AV2, 0.34%, 1/25/37 (b)		1,291		867,051
Credit Acceptance Auto Loan Trust, Series 2010-1, Class B, 3.63%, 10/15/18 (a)		1,980		1,995,645
DT Auto Owner Trust,, Series 2011- 2A, Class C, 3.05%, 2/16/16 (a)		1,500		1,500,469
Globaldrive BV, Series 2008-2, Class A, 4.00%, 10/20/16	EUR	425		616,034
Home Equity Asset Trust, Series 2007-2, Class 2A1, 0.30%, 7/25/37 (b)	USD	204		198,499
Nelnet Student Loan Trust (b):
Series 2006-1, Class A5, 0.37%, 8/23/27		1,060		1,002,408
Series 2008-3, Class A4, 1.91%, 11/25/24		650		677,198
Santander Consumer Acquired Receivables Trust (a):
Series 2011-S1A, Class B, 1.66%, 8/15/16		628		628,391
Series 2011-S1A, Class C, 2.01%, 8/15/16		562		561,974
Series 2011-S1A, Class D, 3.15%, 8/15/16		578		577,533
Series 2011-WO, Class C, 3.19%, 10/15/15		580		586,529
Santander Drive Auto Receivables Trust:
Series 2010-2, Class B, 2.24%, 12/15/14		860		872,930
Series 2010-2, Class C, 3.89%, 7/17/17		1,010		1,054,189
Series 2010-B, Class B, 2.10%, 9/15/14 (a)		700		708,553
Series 2010-B, Class C, 3.02%, 10/17/16 (a)		740		757,159
Series 2011-1, Class D, 4.01%, 2/15/17		860		867,882


Asset-Backed Securities	Par (000)		Value
Asset-Backed Securities (concluded)
Santander Drive Auto Receivables Trust, Series 2010-2, Class B (concluded):
Series 2011-S1A, Class B, 1.48%, 5/15/17 (a)	USD	515	$	515,572
Series 2011-S1A, Class D, 3.10%, 5/15/17 (a)		556		556,646
Series 2011-S2A, Class C, 2.86%, 6/15/17 (a)		1,470		1,469,971
SLM Student Loan Trust (b):
Series 2004-B, Class A2, 0.45%, 6/15/21		544		531,039
Series 2004-B, Class A3, 0.58%, 3/15/24		670		574,293
Series 2008-5, Class A3, 1.57%, 1/25/18		1,140		1,171,349
Series 2008-5, Class A4, 1.97%, 7/25/23		3,620		3,784,896
Small Business Administration, Class 1:
Series 2003-P10B, 5.14%, 8/10/13		270		285,454
Series 2004-P10B, 4.75%, 8/10/14		205		217,979
				26,864,661
Interest Only Asset-Backed Securities — 0.2%
Sterling Bank Trust, Series 2004-2, Class Note, 2.08%, 3/30/30 (a)		4,349		282,689
Sterling Coofs Trust, Series 1, 2.36%, 4/15/29		6,731		490,097
				772,786
Total Asset-Backed Securities – 7.4%				27,637,447



Common Stocks	Shares
Software — 0.0%
Bankruptcy Management Solutions, Inc.		135		1
Total Common Stocks – 0.0%				1



Corporate Bonds	Par (000)
Aerospace & Defense — 0.6%
United Technologies Corp.:
4.88%, 5/01/15	USD	1,125		1,264,880

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:


AUD	Australian Dollar
BRL	Brazilian Real
CNY	Chinese Yuan
EUR	Euro
FHLMC	Federal Home Loan Mortgage Corp.
GO	General Obligation Bonds
JPY	Japanese Yen
LIBOR	London InterBank Offered Rate
RB	Revenue Bonds
USD	US Dollar


BLACKROCK CORE BOND TRUST	MAY 31, 2011	1



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Aerospace & Defense (concluded)
United Technologies Corp. (concluded):
6.13%, 7/15/38	USD	700	$	819,513
				2,084,393
Airlines — 0.4%
American Airlines, Inc., Pass- Through Trust, Series 2001-2, 7.86%, 4/01/13		380		387,600
Continental Airlines, Inc., Series 2010-1-B, 6.00%, 1/12/19		700		679,000
United Air Lines, Inc., 12.75%, 7/15/12		334		365,211
				1,431,811
Auto Components — 0.1%
BorgWarner, Inc., 4.63%, 9/15/20		265		273,569
Beverages — 1.3%
Anheuser-Busch InBev Worldwide, Inc., 7.75%, 1/15/19 (c)		2,950		3,766,041
Crown European Holdings SA, 7.13%, 8/15/18 (a)	EUR	355		533,870
Pernod-Ricard SA, 5.75%, 4/07/21 (a)	USD	508		537,300
				4,837,211
Building Products — 0.1%
Momentive Performance Materials, Inc., 11.50%, 12/01/16		235		253,213
Capital Markets — 5.9%
American Capital Ltd., 7.96%, 12/31/13 (d)		720		740,390
CDP Financial, Inc. (a):
3.00%, 11/25/14		1,935		2,016,593
5.60%, 11/25/39		2,935		3,142,141
Credit Suisse AG:
2.60%, 5/27/16 (a)		570		572,167
5.40%, 1/14/20		1,795		1,883,885
The Goldman Sachs Group, Inc.:
3.70%, 8/01/15		800		812,262
3.63%, 2/07/16		5,684		5,700,000
5.38%, 3/15/20		1,220		1,258,083
E*Trade Financial Corp., 12.50%, 11/30/17 (e)		190		228,475
Morgan Stanley:
2.76%, 5/14/13 (b)(c)		1,890		1,945,275
4.20%, 11/20/14		490		513,976
4.00%, 7/24/15		410		424,549
6.25%, 8/28/17		1,930		2,153,830
5.63%, 9/23/19		630		666,978
				22,058,604
Chemicals — 0.4%
American Pacific Corp., 9.00%, 2/01/15		250		245,000
The Dow Chemical Co., 4.25%, 11/15/20		195		192,903
Hexion U.S. Finance Corp., 8.88%, 2/01/18		520		558,350


Corporate Bonds	Par (000)		Value
Chemicals (concluded)
Huntsman International LLC, 6.88%, 11/15/13 (a)	EUR	435	$	641,658
				1,637,911
Commercial Banks — 7.9%
CIT Group, Inc.:
7.00%, 5/01/16	USD	110		110,413
7.00%, 5/01/17		513		514,422
6.63%, 4/01/18 (a)		294		309,148
Canadian Imperial Bank of Commerce, 2.75%, 1/27/16 (a)		1,490		1,531,470
DEPFA ACS Bank, 5.13%, 3/16/37 (a)		3,775		2,651,643
Discover Bank, 8.70%, 11/18/19		795		991,890
DnB NOR Boligkreditt (a):
2.10%, 10/14/15		4,020		3,982,007
2.90%, 3/29/16		2,600		2,654,285
Eksportfinans ASA:
2.00%, 9/15/15		2,455		2,463,212
5.50%, 6/26/17		950		1,096,243
HSBC Bank Brasil SA - Banco Multiplo, 4.00%, 5/11/16 (a)		1,400		1,396,500
HSBC Bank Plc, 3.10%, 5/24/16 (a)		700		702,032
Royal Bank of Canada, 3.13%, 4/14/15 (a)		3,870		4,040,160
Sparebanken 1 Boligkreditt (a):
1.25%, 10/25/13		1,580		1,577,581
2.63%, 5/27/16		1,675		1,679,435
Wachovia Corp., 5.25%, 8/01/14		3,425		3,728,616
				29,429,057
Commercial Services & Supplies — 0.1%
AWAS Aviation Capital Ltd., 7.00%, 10/15/16 (a)		143		148,155
Mobile Mini, Inc., 7.88%, 12/01/20 (a)		320		338,400
				486,555
Construction Materials — 0.4%
Calcipar SA, 6.88%, 5/01/18 (a)		415		429,525
Inversiones CMPC SA, 4.75%, 1/19/18 (a)		220		220,634
Lafarge SA, 7.13%, 7/15/36		165		167,876
Nortek, Inc., 10.00%, 12/01/18 (a)		750		780,000
				1,598,035
Consumer Finance — 0.5%
Ford Motor Credit Co. LLC:
3.03%, 1/13/12 (b)		125		125,792
7.80%, 6/01/12		340		357,657
SLM Corp.:
6.25%, 1/25/16		661		692,365
Series A, 0.57%, 1/27/14 (b)		550		524,011
				1,699,825


BLACKROCK CORE BOND TRUST	MAY 31, 2011	2



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Containers & Packaging — 1.3%
Ardagh Packaging Finance Plc, 7.38%, 10/15/17 (a)	EUR	425	$	628,437
Ball Corp., 6.75%, 9/15/20	USD	675		718,031
Berry Plastics Corp., 9.75%, 1/15/21		975		976,219
Pregis Corp., 12.38%, 10/15/13		260		258,050
Smurfit Kappa Acquisitions (a):
7.25%, 11/15/17	EUR	725		1,077,256
7.75%, 11/15/19		685		1,027,679
				4,685,672

Ally Financial, Inc.:
8.30%, 2/12/15	USD	1,500		1,672,500
6.25%, 12/01/17 (a)		160		164,825
8.00%, 3/15/20		560		618,100
8.00%, 11/01/31		820		908,150
Bank of America Corp.:
3.63%, 3/17/16		300		302,854
7.63%, 6/01/19		450		534,887
5.63%, 7/01/20		1,070		1,123,678
5.00%, 5/13/21		1,470		1,467,301
Citigroup, Inc.:
5.00%, 9/15/14		140		148,706
4.75%, 5/19/15		1,150		1,233,811
4.59%, 12/15/15		7,800		8,295,245
6.00%, 8/15/17		100		111,681
5.38%, 8/09/20		200		210,733
General Electric Capital Corp.:
5.30%, 2/11/21		370		388,618
6.15%, 8/07/37 (c)		4,150		4,455,203
6.88%, 1/10/39 (c)		135		158,608
JPMorgan Chase & Co.:
3.70%, 1/20/15 (c)		3,425		3,588,691
6.30%, 4/23/19 (c)		2,000		2,283,980
4.25%, 10/15/20		190		186,910
7.90%, (b)(f)		1,500		1,652,055
Series BKNT, 6.00%, 10/01/17		2,620		2,944,639
Novus USA Trust, 1.51%, 11/18/11 (a)(b)		860		856,409
Reynolds Group Issuer, Inc. (a):
8.50%, 10/15/16	EUR	550		830,090
7.13%, 4/15/19	USD	896		931,840
9.00%, 4/15/19		435		461,644
6.88%, 2/15/21		1,215		1,252,969
				36,784,127
Diversified Telecommunication Services — 4.2%
Level 3 Escrow, Inc., 8.13%, 7/01/19 (a)(g)		60		60,600
Level 3 Financing, Inc.:
8.75%, 2/15/17		429		441,870
10.00%, 2/01/18		180		194,850


Corporate Bonds	Par (000)		Value
Diversified Telecommunication Services (concluded)
Qwest Communications International, Inc.:
8.00%, 10/01/15	USD	568	$	621,960
7.13%, 4/01/18		272		294,780
Qwest Corp.:
7.63%, 6/15/15		192		220,440
8.38%, 5/01/16		380		451,250
6.50%, 6/01/17		103		114,588
Telecom Italia Capital SA:
4.95%, 9/30/14 (c)		1,075		1,138,200
6.00%, 9/30/34		1,550		1,413,200
Telefonica Emisiones SAU, 7.05%, 6/20/36		1,975		2,200,377
Verizon Communications, Inc.:
8.75%, 11/01/18		2,220		2,912,112
6.40%, 2/15/38		3,483		3,842,581
8.95%, 3/01/39		900		1,294,178
Verizon New Jersey, Inc., 5.88%, 1/17/12		335		345,842
Windstream Corp., 7.88%, 11/01/17		60		65,625
				15,612,453
Electric Utilities — 4.9%
Alabama Power Co.:
3.95%, 6/01/21		460		463,025
6.00%, 3/01/39 (c)		1,275		1,436,841
Cleveland Electric Illuminating Co., 8.88%, 11/15/18		59		76,706
Duke Energy Carolinas LLC:
3.90%, 6/15/21		370		373,675
6.10%, 6/01/37		315		352,450
6.00%, 1/15/38		825		931,644
EDF SA, 5.60%, 1/27/40 (a)(c)		1,400		1,481,546
E.ON International Finance BV, 6.65%, 4/30/38 (a)		1,525		1,836,750
Florida Power & Light Co., 4.95%, 6/01/35		950		946,559
Florida Power Corp.:
6.35%, 9/15/37 (c)		1,325		1,557,605
6.40%, 6/15/38		430		509,656
Hydro-Quebec, 8.40%, 1/15/22		730		1,013,293
Jersey Central Power & Light Co., 7.35%, 2/01/19		245		299,949
PacifiCorp., 6.25%, 10/15/37		575		666,921
Public Service Co. of Colorado, 6.25%, 9/01/37 (c)		1,200		1,416,624
Southern California Edison Co.:
5.63%, 2/01/36		625		671,993
Series 08-A, 5.95%, 2/01/38		1,075		1,211,369
The Toledo Edison Co., 6.15%, 5/15/37		350		378,380
Trans-Allegheny Interstate Line Co., 4.00%, 1/15/15 (a)		250		261,227
Virginia Electric and Power Co., Series A, 6.00%, 5/15/37 (c)		2,000		2,239,950
				18,126,163


BLACKROCK CORE BOND TRUST	MAY 31, 2011	3



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Energy Equipment & Services — 0.8%
Calfrac Holdings LP, 7.50%, 12/01/20 (a)	USD	340	$	351,900
Ensco Plc:
3.25%, 3/15/16		160		163,141
4.70%, 3/15/21		345		352,859
Exterran Holdings, Inc., 7.25%, 12/01/18 (a)		605		623,150
Frac Tech Services LLC, 7.13%, 11/15/18 (a)		1,110		1,176,600
Pride International, Inc., 6.88%, 8/15/20		230		271,712
Thermon Industries, Inc., 9.50%, 5/01/17		144		153,720
				3,093,082
Food & Staples Retailing — 0.8%
Wal-Mart Stores, Inc. (c):
6.50%, 8/15/37		1,900		2,211,759
6.20%, 4/15/38		850		956,229
				3,167,988
Food Products — 0.8%
Darling International, Inc., 8.50%, 12/15/18 (a)		335		365,150
JBS USA LLC, 7.25%, 6/01/21 (a)		170		166,600
Kraft Foods, Inc.:
5.38%, 2/10/20		535		585,622
7.00%, 8/11/37		1,455		1,717,204
				2,834,576
Health Care Equipment & Supplies — 0.8%
DJO Finance LLC:
10.88%, 11/15/14		810		874,800
7.75%, 4/15/18 (a)		975		1,001,813
IASIS Healthcare LLC, 8.38%, 5/15/19 (a)		1,225		1,232,656
				3,109,269
Health Care Providers & Services — 1.3%
Aviv Healthcare Properties LP, 7.75%, 2/15/19 (a)		175		178,938
ConvaTec Healthcare E SA (a):
7.38%, 12/15/17	EUR	600		889,363
10.50%, 12/15/18	USD	630		680,400
HealthSouth Corp., 8.13%, 2/15/20		280		308,000
Tenet Healthcare Corp.:
9.00%, 5/01/15		410		446,387
10.00%, 5/01/18		170		194,650
8.88%, 7/01/19		1,150		1,279,375
WellPoint, Inc., 5.25%, 1/15/16		900		1,009,345
				4,986,458
Health Care Technology — 0.1%
MedAssets, Inc., 8.00%, 11/15/18 (a)		500		515,625


Corporate Bonds	Par (000)		Value
Hotels, Restaurants & Leisure — 1.1%
Boyd Gaming Corp., 9.13%, 12/01/18 (a)	USD	170	$	176,163
Caesars Entertainment Operating Co., Inc., 10.00%, 12/15/18		2,755		2,548,375
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18	EUR	69		103,270
El Dorado Resorts LLC, 8.63%, 6/15/19 (a)(g)	USD	390		388,050
Sugarhouse HSP Gaming Property Mezzanine LP, 8.63%, 4/15/16 (a)		190		196,175
Vail Resorts, Inc., 6.50%, 5/01/19 (a)		235		239,994
Yum! Brands, Inc., 6.25%, 4/15/16		265		304,882
				3,956,909
Household Durables — 1.5%
Beazer Homes USA, Inc.:
8.13%, 6/15/16		255		243,525
12.00%, 10/15/17		1,050		1,186,500
Standard Pacific Corp.:
10.75%, 9/15/16		2,100		2,425,500
8.38%, 5/15/18		550		559,625
8.38%, 1/15/21		1,065		1,067,663
				5,482,813
Household Products — 0.1%
Ontex IV SA, 7.50%, 4/15/18 (a)	EUR	190		278,897
IT Services — 1.3%
First Data Corp. (a):
7.38%, 6/15/19	USD	605		615,587
12.63%, 1/15/21		520		565,500
iPayment, Inc., 9.75%, 5/15/14		240		246,000
iPayment Investors LP, 11.63%, 7/15/14 (a)(e)		863		872,090
SunGard Data Systems, Inc.:
7.38%, 11/15/18		660		673,200
7.63%, 11/15/20		1,730		1,794,875
				4,767,252
Independent Power Producers & Energy Traders — 1.6%
Energy Future Holdings Corp., 10.00%, 1/15/20		1,520		1,645,640
Energy Future Intermediate Holding Co. LLC, 10.00%, 12/01/20		347		377,417
NRG Energy, Inc., 7.63%, 1/15/18 (a)		2,855		2,883,550
Texas Competitive Electric Holdings Co. LLC, 11.50%, 10/01/20 (a)		1,065		1,078,313
				5,984,920
Industrial Conglomerates — 0.8%
Sequa Corp. (a):
11.75%, 12/01/15		690		738,300
13.50%, 12/01/15		1,940		2,076,219
				2,814,519


BLACKROCK CORE BOND TRUST	MAY 31, 2011	4



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
Schedule of Investments (continued)	(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Insurance — 3.5%
American International Group, Inc.:
5.45%, 5/18/17	USD	800	$	838,126
8.18%, 5/15/68 (b)		115		126,500
CNO Financial Group, Inc., 9.00%, 1/15/18 (a)		603		651,240
Fairfax Financial Holdings, Ltd., 5.80%, 5/15/21 (a)		600		598,633
Genworth Financial, Inc., 6.15%, 11/15/66 (b)		1,205		930,863
Hartford Life Global Funding Trusts, 0.43%, 6/16/14 (b)		425		414,141
Liberty Mutual Group, Inc., 10.75%, 6/15/88 (a)(b)		90		121,950
Lincoln National Corp., 6.25%, 2/15/20 (b)		630		712,406
Manulife Financial Corp., 3.40%, 9/17/15		1,630		1,696,691
MetLife Capital Trust X, 9.25%, 4/08/68 (a)		400		508,000
Metropolitan Life Global Funding I (a)(c):
2.50%, 1/11/13		2,545		2,595,419
5.13%, 6/10/14		775		848,313
Prudential Financial, Inc.:
5.70%, 12/14/36		675		680,430
Series D, 5.90%, 3/17/36		500		515,160
llkey		1,060		1,060,696
Teachers Insurance & Annuity Association of America, 6.85%, 12/16/39 (a)		213		251,735
XL Capital Ltd., Series E, 6.50% (b)(f)		465		438,844
				12,989,147
Leisure Equipment & Products — 0.0%
Cinemark USA, Inc., 7.38%, 6/15/21 (a)		130		130,000
Life Sciences Tools & Services — 0.0%
Life Technologies Corp., 5.00%, 1/15/21		105		108,474
Machinery — 0.7%
AGY Holding Corp., 11.00%, 11/15/14		310		301,863
Navistar International Corp.:
3.00%, 10/15/14 (h)		1,040		1,513,200
8.25%, 11/01/21		16		17,580
Titan International, Inc., 5.63%, 1/15/17 (a)(h)		340		976,650
				2,809,293
Marine — 0.3%
Nakilat, Inc., Series A, 6.07%, 12/31/33 (a)(c)		1,050		1,065,750

Corporate Bonds	Par (000)		Value
Media — 10.1%
Affinion Group, Inc., 7.88%, 12/15/18 (a)	USD	1,045	$	992,750
CBS Corp.:
4.63%, 5/15/18		810		847,456
8.88%, 5/15/19		325		419,822
5.75%, 4/15/20		250		273,774
CCH II LLC, 13.50%, 11/30/16		2,300		2,737,447
CMP Susquehanna Corp., 3.52%, 5/15/14		52		49,400
Cengage Learning Acquisitions, Inc., 10.50%, 1/15/15 (a)		1,095		1,040,250
Citadel Broadcasting Corp., 7.75%, 12/15/18 (a)		500		540,625
Clear Channel Worldwide Holdings, Inc., Series B, 9.25%, 12/15/17		1,127		1,231,247
Comcast Cable Communications Holdings, Inc., 9.46%, 11/15/22		600		843,811
Comcast Corp., 6.45%, 3/15/37		790		858,620
Cox Communications, Inc., 8.38%, 3/01/39 (a)		905		1,238,673
Cox Enterprises, Inc.:
Loan Close 2, 4.00%, 8/15/18		926		926,058
Loan Close 3, 12.00%, 8/15/18		1,059		1,058,750
Shares Loan, 4.00%, 8/15/18		1,092		1,091,944
Cumulus Media, Inc., 7.75%, 5/01/19 (a)		465		465,000
DIRECTV Holdings LLC, 3.13%, 2/15/16		1,380		1,400,318
Discovery Communications LLC, 3.70%, 6/01/15		480		506,070
Gray Television, Inc., 10.50%, 6/29/15		1,055		1,120,938
Interactive Data Corp., 10.25%, 8/01/18 (a)		1,480		1,646,500
NBC Universal, Inc. (a):
5.15%, 4/30/20		1,983		2,109,593
4.38%, 4/01/21		1,015		1,008,938
The New York Times Co., 6.63%, 12/15/16		1,800		1,851,750
News America Holdings, Inc., 8.45%, 8/01/34		1,315		1,655,327
News America, Inc.:
4.50%, 2/15/21 (a)		840		848,891
7.63%, 11/30/28		385		464,212
6.15%, 2/15/41 (a)		1,465		1,502,793
Rainbow National Services LLC, 10.38%, 9/01/14 (a)		943		978,363
TCI Communications, Inc., 7.88%, 2/15/26		610		783,527
Time Warner Cable, Inc.:
7.30%, 7/01/38		930		1,080,232
5.88%, 11/15/40		465		459,145
Time Warner, Inc.:
4.70%, 1/15/21		350		357,319


	BLACKROCK CORE BOND TRUST	MAY 31, 2011	5



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
Schedule of Investments (continued)	(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Media (concluded)
Time Warner, Inc. (concluded):
6.10%, 7/15/40	USD	215	$	221,356
UPC Germany GmbH, 8.13%, 12/01/17 (a)		2,600		2,762,500
Virgin Media Secured Finance Plc, 6.50%, 1/15/18		525		578,156
Ziggo Finance BV, 6.13%, 11/15/17 (a)	EUR	1,135		1,641,545
				37,593,100
Metals & Mining — 2.6%
AngloGold Ashanti Holdings PLC, 5.38%, 4/15/20	USD	320		329,182
Barrick Gold Corp., 2.90%, 5/30/16 (a)(g)		1,380		1,383,831
Cliffs Natural Resources, Inc.:
4.80%, 10/01/20		240		245,054
4.88%, 4/01/21		690		704,266
Corporacion Nacional del Cobre de Chile, 3.75%, 11/04/20 (a)		259		249,027
Drummond Co., Inc.:
9.00%, 10/15/14 (a)		33		34,650
7.38%, 2/15/16		375		383,437
Falconbridge Ltd., 6.20%, 6/15/35		1,250		1,321,734
New World Resources NV, 7.88%, 5/01/18	EUR	215		323,330
Novelis, Inc., 8.75%, 12/15/20 (c)	USD	4,380		4,839,900
				9,814,411
Oil, Gas & Consumable Fuels — 7.6%
Anadarko Petroleum Corp.:
5.95%, 9/15/16		1,916		2,164,739
6.38%, 9/15/17		829		952,813
Arch Coal, Inc., 7.25%, 10/01/20		1,130		1,192,150
BP Capital Markets Plc:
3.13%, 3/10/12		1,270		1,293,684
3.13%, 10/01/15		330		337,983
Bill Barrett Corp., 9.88%, 7/15/16		75		85,125
Burlington Resources Finance Co., 7.40%, 12/01/31		875		1,104,298
Chesapeake Energy Corp., 6.63%, 8/15/20		481		505,651
ConocoPhillips Canada Funding Co., 5.95%, 10/15/36		535		591,946
Crosstex Energy LP, 8.88%, 2/15/18		130		141,050
Devon Energy Corp., 7.95%, 4/15/32		625		843,207
El Paso Pipeline Partners Operating Co., LLC, 6.50%, 4/01/20		240		275,576
EnCana Corp.:
6.50%, 8/15/34		670		749,958
6.63%, 8/15/37		700		802,563
Energy XXI Gulf Coast, Inc., 9.25%, 12/15/17 (a)		580		624,950

Corporate Bonds	Par (000)		Value
Oil, Gas & Consumable Fuels (concluded)
Enterprise Products Operating LLC:
5.20%, 9/01/20	USD	695	$	741,707
6.13%, 10/15/39		700		732,419
KeySpan Gas East Corp., 5.82%, 4/01/41 (a)		505		534,900
Kinder Morgan Energy Partners LP:
5.30%, 9/15/20		1,195		1,275,222
6.55%, 9/15/40		110		119,573
6.38%, 3/01/41		150		159,479
Marathon Petroluem Corp., 6.50%, 3/01/41 (a)		997		1,069,931
MidAmerican Energy Co., 5.80%, 10/15/36		700		752,968
MidAmerican Energy Holdings Co.:
5.95%, 5/15/37		800		862,652
6.50%, 9/15/37		1,900		2,195,572
Nexen, Inc., 7.50%, 7/30/39		1,000		1,171,082
Niska Gas Storage US LLC, 8.88%, 3/15/18		1,000		1,075,000
Petrobras International Finance Co.:
3.88%, 1/27/16		1,340		1,371,008
5.88%, 3/01/18		75		81,181
5.75%, 1/20/20		1,725		1,829,566
Petroleos Mexicanos, 6.50%, 6/02/41 (a)(g)		290		291,682
Rockies Express Pipeline LLC (a):
3.90%, 4/15/15		804		815,840
6.85%, 7/15/18		206		233,755
Valero Energy Corp.:
6.13%, 2/01/20		250		279,418
6.63%, 6/15/37		157		167,894
Western Gas Partners LP, 5.38%, 6/01/21		710		734,126
Woodside Finance, Ltd., 4.60%, 5/10/21 (a)		205		207,936
				28,368,604
Paper & Forest Products — 0.7%
Boise Paper Holdings LLC:
9.00%, 11/01/17		185		206,044
8.00%, 4/01/20		210		226,800
Clearwater Paper Corp., 10.63%, 6/15/16		620		702,150
International Paper Co., 5.30%, 4/01/15		42		46,487
NewPage Corp., 11.38%, 12/31/14		900		868,500
Verso Paper Holdings LLC, 11.50%, 7/01/14		670		726,950
				2,776,931
Pharmaceuticals — 1.3%
Merck & Co., Inc., 6.55%, 9/15/37 (c)		1,125		1,356,633
Teva Pharmaceutical Finance LLC, 6.15%, 2/01/36		1,445		1,609,408
Wyeth (c):
6.00%, 2/15/36		675		751,577


	BLACKROCK CORE BOND TRUST	MAY 31, 2011	6



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
Schedule of Investments (continued)	(Percentages shown are based on Net Assets)


Corporate Bonds	Par (000)		Value
Pharmaceuticals (concluded)
Wyeth (concluded):
5.95%, 4/01/37	USD	925	$	1,022,903
				4,740,521
Real Estate Investment Trusts (REITs) — 0.1%
Ventas Realty LP / Ventas Capital Corp., 4.75%, 6/01/21		275		274,133
Real Estate Management & Development — 0.3%
Realogy Corp., 7.88%, 2/15/19 (a)		729		732,645
WEA Finance LLC, 4.63%, 5/10/21 (a)		305		304,390
				1,037,035
Road & Rail — 1.0%
Avis Budget Car Rental LLC, 9.63%, 3/15/18		715		784,712
Burlington Northern Santa Fe LLC, 5.75%, 5/01/40		950		996,894
CSX Corp., 4.25%, 6/01/21		400		400,640
Florida East Coast Railway Corp., 8.13%, 2/01/17 (a)		490		510,825
The Hertz Corp., 7.38%, 1/15/21 (a)		947		980,145
				3,673,216
Semiconductors & Semiconductor Equipment — 0.1%
Spansion LLC, 7.88%, 11/15/17 (a)		390		398,775
Software — 0.2%
Oracle Corp., 5.38%, 7/15/40 (a)		895		921,036
Thrifts & Mortgage Finance — 1.0%
Northern Rock Plc, 5.63%, 6/22/17 (a)		290		308,912
The PMI Group Inc., 6.00%, 9/15/16		1,400		945,000
Radian Group, Inc.:
5.63%, 2/15/13		1,400		1,351,000
5.38%, 6/15/15		1,400		1,179,500
				3,784,412
Tobacco — 0.2%
Philip Morris International, Inc., 4.50%, 3/26/20		640		672,767
Wireless Telecommunication Services — 2.5%
Clearwire Communications LLC, 12.00%, 12/01/15 (a)		110		120,313
Cricket Communications, Inc., 10.00%, 7/15/15		35		38,106
Crown Castle Towers LLC, 6.11%, 1/15/40 (a)		1,420		1,561,936
Digicel Group Ltd. (a):
9.13%, 1/15/15		560		578,200
8.25%, 9/01/17		150		157,500

Corporate Bonds	Par (000)		Value
Wireless Telecommunication Services (concluded)
Intelsat Jackson Holdings SA, 7.25%, 10/15/20 (a)	USD	1,050	$	1,052,625
MetroPCS Wireless, Inc.:
7.88%, 9/01/18		600		645,750
6.63%, 11/15/20		960		957,600
Rogers Communications, Inc., 7.50%, 8/15/38		1,150		1,461,606
Sprint Capital Corp., 6.88%, 11/15/28		745		722,650
Vodafone Group Plc, 4.15%, 6/10/14 (c)		2,050		2,206,946
				9,503,232
Total Corporate Bonds – 81.2%				302,651,744


Foreign Agency Obligations
Hellenic Republic Government Bond, 4.60%, 9/20/40	EUR	160		102,857
Italy Government International Bond, 5.38%, 6/15/33	USD	455		470,457
Japan Finance Corp., 2.00%, 6/24/11 (c)		860		860,776
Kreditanstalt fuer Wiederaufbau, 1.38%, 7/15/13		660		670,111
Mexico Government International Bond, 5.63%, 1/15/17		370		415,880
United Mexican States, Series A, 5.13%, 1/15/20		215		231,125
Total Foreign Agency Obligations – 0.7%				2,751,206


Non-Agency Mortgage-Backed Securities
Collateralized Mortgage Obligations — 6.5%
Banc of America Funding Corp., Series 2007-2, Class 1A2, 6.00%, 3/25/37		1,100		814,400
Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-8, Class 14A1, 5.39%, 11/25/34		465		425,704
Countrywide Alternative Loan Trust:
Series 2005-64CB, Class 1A15, 5.50%, 12/25/35		1,573		1,372,909
Series 2006-0A19, Class A1, 0.43%, 2/20/47		0.00		0.00
Series 2006-0A21, Class A1, 0.39%, 3/20/47 (b)		854		478,507
Series 2006-41CB, Class 1A4, 5.75%, 1/25/37		794		598,205


	BLACKROCK CORE BOND TRUST	MAY 31, 2011	7



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
Schedule of Investments (continued)	(Percentages shown are based on Net Assets)


Non-Agency Mortgage-Backed Securities	Par (000)		Value
Collateralized Mortgage Obligations (continued)
Countrywide Alternative Loan Trust (concluded):
Series 2007-HY4, Class 4A1, 5.50%, 6/25/47 (b)	USD	968	$	693,711
Countrywide Home Loan Mortgage Pass- Through Trust:
Series 2006-0A5, Class 2A1, 0.41%, 4/25/46		355		205,964
Series 2007-10, Class A22, 6.00%, 7/25/37		753		626,725
Credit Suisse Mortgage Capital Certificates:
Series 2006-C3, Class AM, 5.82%, 6/15/38 (b)		1,000		1,057,110
Series 2007-1, Class 5A14, 6.00%, 2/25/37		566		482,619
Series 2010-RR2, Class 2A, 5.80%, 9/15/39 (a)(b)		1,010		1,098,139
Series 2011-2R, Class 2A1, 4.15%, 7/27/36 (a)(b)		1,601		1,608,051
Series 2011-4R, Class 1A1, 6.25%, 9/27/37 (a)		849		756,255
Series 2011-4R, Class 2A1, 5.03%, 8/27/37 (a)(b)		1,054		959,521
CS First Boston Mortgage Securities Corp., Series 2005- 12, Class 6A1, 6.00%, 1/25/36		948		703,445
Deutsche ALT-A Securities, Inc., Alternate Loan Trust, Series 2006-0A1, Class A1, 0.41%, 2/25/47 (b)		276		183,338
FHLMC Multifamily Structured Pass-Through Certificates, Series K013, Class A2, 3.97%, 1/25/21 (b)		1,890		1,923,642
GMAC Mortgage Corp. Loan Trust, Series 2005-AR3, Class 5A1, 5.11%, 6/19/35 (b)		1,480		1,433,872
GSR Mortgage Loan Trust:
Series 2006-4F, Class 1A1, 5.00%, 5/25/36		786		667,955
Series 2006-AR1, Class 2A1, 2.81%, 1/25/36 (b)		709		584,423
Series 2007-4F, Class 3A1, 6.00%, 7/25/37		877		834,250
Homebanc Mortgage Trust, Series 2006-2, Class A1, 0.39%, 12/25/36 (b)		705		515,459
IndyMac IMJA Mortgage Loan Trust, Series 2007-A1, Class A4, 6.00%, 8/25/37		1,074		928,923
JPMorgan Mortgage Trust:
Series 2006-S3, Class 1A12, 6.50%, 8/25/36		604		578,878
Series 2007-S1, Class 2A22, 5.75%, 3/25/37		600		512,949

Non-Agency Mortgage-Backed Securities	Par (000)		Value
Collateralized Mortgage Obligations (concluded)
Merrill Lynch Mortgage Investors, Inc., Series 2006-A3, Class 3A1, 2.79%, 5/25/36 (b)	USD	734	$	541,755
Residential Funding Mortgage Securities I, Series 2007-S6, Class 1A16, 6.00%, 6/25/37		509		422,276
Structured Asset Securities Corp., Series 2002-AL1, Class A2, 3.45%, 2/25/32		1,547		1,465,564
Wells Fargo Mortgage-Backed Securities Trust:
Series 2006-9, Class 1A29, 6.00%, 8/25/36		560		558,239
Series 2006-3, Class A9, 5.50%, 3/25/36		416		421,296
Series 2007-8, Class 2A9, 6.00%, 7/25/37		484		475,227
Series 2007-10, Class 1A21, 6.00%, 7/25/37		164		163,076
				24,092,387
Commercial Mortgage-Backed Securities — 14.0%
Banc of America Commercial Mortgage, Inc.:
Series 2006-4, Class A4, 5.63%, 7/10/46		420		462,851
Series 2006-4, Class AM, 5.68%, 7/10/46		250		258,629
Series 2007-1, Class A4, 5.45%, 1/15/49		1,380		1,492,762
Series 2007-2, Class A4, 5.65%, 4/10/49 (b)		750		814,514
Bear Stearns Commercial Mortgage Securities:
Series 2005-PWR9, Class A4A, 4.87%, 9/11/42		800		863,237
Series 2007-PW17, Class A4, 5.69%, 6/11/50 (b)		870		960,577
Citigroup Commercial Mortgage Trust, Series 2008-C7, Class A4, 6.09%, 12/10/49 (b)		1,370		1,525,841
Commercial Mortgage Pass-Through Certificates (b):
Series 2004-LB3A, Class A3, 5.09%, 7/10/37		502		501,211
Series 2006-C7, Class AM, 5.78%, 6/10/46		1,750		1,836,788
Credit Suisse Mortgage Capital Certificates, Series 2006-C5, Class AM, 5.34%, 12/15/39		1,750		1,755,902
CS First Boston Mortgage Securities Corp., Series 2005- C3, Class AJ, 4.77%, 7/15/37		705		670,450


	BLACKROCK CORE BOND TRUST	MAY 31, 2011	8



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
Schedule of Investments (continued)	(Percentages shown are based on Net Assets)


Non-Agency Mortgage-Backed Securities	Par (000)		Value
Commercial Mortgage-Backed Securities (continued)
Extended Stay America Trust (a):
Class A, 2.95%, 11/05/27	USD	2,382	$	2,396,325
Class D, 5.50%, 11/05/27		550		574,977
Series 2010-ESHA, Class B, 4.22%, 11/05/27		2,000		2,064,928
Series 2010-ESHA, Class C, 4.86%, 11/05/27		1,005		1,049,364
First Union National Bank Commercial Mortgage:
Series 2001-C3, Class A3, 6.42%, 8/15/33		0.00		0.00
Series 2001-C4, Class A2, 6.22%, 12/12/33		1,793		1,804,437
GMAC Commercial Mortgage Securities, Inc., Series 2002-C3, Class A2, 4.93%, 7/10/39		2,350		2,441,761
GS Mortgage Securities Corp. II (b):
Series 2006-GG6, Class AM, 5.62%, 4/10/38		190		195,329
Series 2010-C2, Class C, 5.23%, 12/10/43 (a)		900		902,945
JPMorgan Chase Commercial Mortgage Securities Corp.:
Series 2001-C1, Class A3, 5.86%, 10/12/35		895		897,444
Series 2004-CB8, Class A1A, 4.16%, 1/12/39 (a)		2,340		2,429,213
Series 2004-CBX, Class A4, 4.53%, 1/12/37		2,180		2,192,603
Series 2006-CB14, Class AM, 5.44%, 12/12/44 (b)		330		336,498
Series 2006-CB16, Class AJ, 5.62%, 5/12/45		730		673,437
Series 2007-CB19, Class A4, 5.74%, 2/12/49 (b)		640		705,136
LB-UBS Commercial Mortgage Trust (b):
Series 2004-C8, Class C, 4.93%, 12/15/39		1,385		1,448,249
Series 2007-C6, Class A4, 5.86%, 7/15/40		1,761		1,907,762
Series 2007-C7, Class A3, 5.87%, 9/15/45		1,460		1,612,511
Merrill Lynch Mortgage Trust, Series 2004-BPC1, Class A3, 4.47%, 10/12/41 (b)		4,200		4,225,883
Morgan Stanley Capital I:
Series 2004-HQ4, Class A7, 4.97%, 4/14/40		1,000		1,068,134
Series 2005-T17, Class A4, 4.52%, 12/13/41		2,301		2,319,113
Wachovia Bank Commercial Mortgage Trust:
Series 2005-C21, Class A3, 5.20%, 10/15/44 (b)		6		5,531

Non-Agency Mortgage-Backed Securities	Par (000)		Value
Commercial Mortgage-Backed Securities (concluded)
Wachovia Bank Commercial Mortgage Trust (concluded):
Series 2006-C28, Class A2, 5.50%, 10/15/48	USD	7,253	$	7,297,333
Series 2007-C33, Class A4, 5.90%, 2/15/51 (b)		2,185		2,399,957

				52,091,632
Total Non-Agency Mortgage-Backed Securities – 20.5%				76,184,019


Other Interests (i)	Beneficial Interest (000)
Health Care Providers & Services — 0.0%
Critical Care Systems International, Inc.		2		191
Total Other Interests – 0.0%				191


Preferred Securities

Capital Trust	Par (000)
Capital Markets — 0.3%
Credit Suisse Guernsey Ltd., 5.86% (b)(f)		1,004		976,390
UBS Preferred Funding Trust V, 6.24% (b)(f)		80		80,600
				1,056,990
Commercial Banks — 0.5%
ABN AMRO North America Holding Preferred Capital Repackaging Trust I, 6.52%, (a)(b)(f)		1,350		1,292,625
Barclays Bank Plc, 5.93%, (a)(b)(f)		100		95,500
Fifth Third Capital Trust IV, 6.50%, 4/15/37 (b)		295		292,787
SunTrust Capital VIII, 6.10%, 12/15/36 (b)		55		54,450
Wachovia Capital Trust III, 5.57%, (b)(f)		55		50,903
				1,786,265
Consumer Finance — 0.0%
State Street Capital Trust IV, 1.31% (b)		70		59,138


	BLACKROCK CORE BOND TRUST	MAY 31, 2011	9




Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
	(Percentages shown are based on Net Assets)


Preferred Securities	Par (000)		Value
Capital Trusts (concluded)
Insurance — 0.7%
Lincoln National Corp., 6.05%, 4/20/67	USD	675	$	661,500
Allstate Corp., 6.50%		1,950		1,993,875
				2,655,375
Total Capital Trusts – 1.5%				5,557,768


Preferred Stocks	Shares
Automobiles — 0.3%
General Motors Co., 4.75%		17,800	891,780
Media — 0.0%
CMP Susquehanna Radio Holdings Corp., 0.00% (a)(j)		12,033	102,280
Total Preferred Stocks – 0.3%			994,060
Total Preferred Securities – 1.8%			6,551,828


Taxable Municipal Bonds	Par (000)
City of Chicago Illinois, RB, Build America Bonds, 6.40%, 1/01/40	USD	250	266,978
East Bay Municipal Utility District, RB, Build America Bonds, 5.87%, 6/01/40		950	1,021,449
Indianapolis Local Public Improvement Bond Bank, RB, Build America Bonds, 6.12%, 1/15/40		1,275	1,382,839
Metropolitan Transportation Authority, RB, Build America Bonds, 7.34%, 11/15/39		625	780,581
New York City Municipal Water Finance Authority, RB:
Build America Bonds, 5.72%, 6/15/42		700	755,048
Build America Bonds, 5.38%, 6/15/43		385	408,127
Second General Resolution, Series EE, 5.50%, 6/15/43		465	499,238
New York State Dormitory Authority, Build America Bonds:
5.60%, 3/15/40		950	982,215
5.63%, 3/15/39		550	577,682
Port Authority of New York & New Jersey, RB, Consolidated, 159th Series, 6.04%, 12/01/29		385	429,983


Taxable Municipal Bonds	Par (000)		Value
State of California, GO, Various Purpose, Series 3, 5.45%, 4/01/15	USD	2,300	$	2,520,869
University of California, RB, Build America Bonds, 5.95%, 5/15/45		445		433,283
Total Taxable Municipal Bonds – 2.7%				10,058,292



U.S. Government Sponsored Agency Securities
Agency Obligations — 3.3%
Fannie Mae:
6.03%, 10/09/19 (k)		7,055		4,964,667
5.63%, 7/15/37		775		896,141
Federal Home Loan Banks:
5.25%, 12/09/22		675		771,057
5.37%, 9/09/24		1,075		1,229,213
Federal Home Loan Mortgage Corp., 3.53%, 9/30/19		820		832,935
Resolution Funding Corp.:
6.30%, 7/15/18 (k)		525		429,077
6.30%, 10/15/18 (k)		525		423,761
Tennessee Valley Authority, 5.25%, 9/15/39		2,355		2,572,357
				12,119,208
Collateralized Mortgage Obligations — 0.5%
Fannie Mae Mortgage-Backed Securities, Series 2005-5, Class PK, 5.00%, 12/25/34		947		1,018,911
Freddie Mac Mortgage-Backed Securities, Series 2825, Class VP, 5.50%, 6/15/15		762		825,962
				1,844,873
Federal Deposit Insurance Corporation Guaranteed — 0.1%
General Electric Capital Corp., 2.13%, 12/21/12 (c)		515		528,870
Interest Only Collateralized Mortgage Obligations — 0.1%
Freddie Mac Mortgage-Backed Securities:
Series 2579, Class HI, 5.00%, 8/15/17		468		21,282
Series 2611, Class QI, 5.50%, 9/15/32		2,221		300,405
				321,687
Mortgage-Backed Securities — 15.3%
Fannie Mae, MBS, 5.00% (l)		700		750,532
Fannie Mae Mortgage-Backed Securities:
4.00%, 12/01/41 (l)		20,200		20,485,526



BLACKROCK CORE BOND TRUST	MAY 31, 2011	10




Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
	(Percentages shown are based on Net Assets)


U.S. Government Sponsored Agency Securities	Par (000)		Value
Mortgage-Backed Securities (concluded)
Fannie Mae Mortgage-Backed Securities (concluded):
4.50%, 12/31/41 (l)	USD	21,300	$	22,125,375
5.00%, 12/01/41 (l)		3,200		3,406,000
5.50%, 12/01/41 (l)		5,900		6,396,106
6.00%, 8/01/29 - 4/01/35		2,162		2,402,001
Freddie Mac Mortgage-Backed Securities:
4.50%, 12/31/41 (l)		100		103,750
5.00%, 12/01/41 (l)		100		106,312
6.00%, 2/01/13 - 12/01/18		924		1,008,531
Ginnie Mae Mortgage-Backed Securities, 5.50%, 8/15/33		139		154,421
				56,938,554
Total U.S. Government Sponsored Agency Securities – 19.3%				71,753,192



U.S. Treasury Obligations
U.S. Treasury Bonds:
8.13%, 8/15/21		1,550		2,245,079
6.25%, 8/15/23		5,720		7,362,715
3.50%, 2/15/39		330		291,535
4.38%, 5/15/40		6,375		6,545,340
3.88%, 8/15/40		2,560		2,409,201
4.25%, 11/15/40		6,385		6,412,934
4.75%, 2/15/41		10,800		11,790,565
4.38%, 5/15/41		4,095		4,203,149
U.S. Treasury Notes:
0.63%, 1/31/13		200		200,867
0.50%, 5/31/13		10,485		10,492,371
1.00%, 5/15/14		1,105		1,112,249
2.25%, 3/31/16		750		772,500
2.00%, 4/30/16		5,865		5,961,655
1.75%, 5/31/16		10,510		10,541,215
2.38%, 5/31/18		2,540		2,539,594
2.63%, 8/15/20		1,105		1,077,116
3.13%, 5/15/21		16,045		16,147,848
4.25%, 5/15/39		6,045		6,094,116
Total U.S. Treasury Obligations – 25.8%				96,200,049



Warrants (m)	Shares
Media — 0.0%
CMP Susquehanna Radio Holdings Corp. (Expires 3/26/19) (a)		13,751		114,903
Software — 0.0%
Bankruptcy Management Solutions, Inc. (Expires 12/30/11)		90		1


Warrants (m)		Value
Total Warrants – 0.0%	$	114,904
Total Long-Term Investments (Cost – $574,222,715) – 159.4%		593,902,873


Short-Term Securities	Shares
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.10% (n)(o)		38,299	38,299
Total Short-Term Securities (Cost – $38,299) – 0.0%			38,299


Options Purchased	Contracts
Exchange-Traded Call Options — 0.0%

10-Year U.S. Treasury Note, Strike Price USD 121.50, Expires 8/26/11		54	112,219
Exchange-Traded Put Options — 0.1%
5-Year U.S. Treasury Note, Strike Price USD 116.00, Expires 8/26/11		69	10,781
5-Year U.S. Treasury Note, Strike Price USD 117.00, Expires 8/26/11		102	28,688
10-Year U.S. Treasury Note, Strike Price USD 121.50, Expires 8/26/11		54	52,312
Eurodollar 1-Year Mid-Curve Options, Strike Price USD 98.25, Expires 9/16/11		790	11,850
Eurodollar 1-Year Mid-Curve Options, Strike Price USD 98.50, Expires 9/16/11		555	18,038
			121,669


	Notional Amount (000)
Over-the-Counter Call Options — 0.0%
JPY Call Option, Strike Price USD 84.00, Expires 6/27/11, Broker Morgan Stanley Capital Services		5,460	11,084
JPY Call Option, Strike Price USD 84.00, Expires 6/27/11, Broker UBS AG		2,730	5,542
JPY Call Option, Strike Price USD 86.00, Expires 6/27/11, Broker Citibank NA		8,190	3,194
JPY Call Option, Strike Price USD 86.00, Expires 8/24/11, Broker BNP Paribas SA		21,700	86,366
			106,186



BLACKROCK CORE BOND TRUST	MAY 31, 2011	11




Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
	(Percentages shown are based on Net Assets)


	Notional
	Amount
Options Purchased	(000)		Value
Over-the-Counter Call Swaptions — 1.2%
Receive a fixed rate of 3.00% and pay a floating rate based on 3- month LIBOR, Expires 9/02/11, Broker UBS AG	USD	5,000	$	33,913
Receive a fixed rate of 3.12% and pay a floating rate based on 3- month LIBOR, Expires 11/08/11, Broker Deutsche Bank AG		3,000		38,736
Receive a fixed rate of 3.54% and pay a floating rate based on 3- month LIBOR, Expires 12/01/11, Broker Citibank NA		6,500		202,984
Receive a fixed rate of 3.63% and pay a floating rate based on 3- month LIBOR, Expires 12/02/11, Broker Deutsche Bank AG		3,200		116,737
Receive a fixed rate of 3.99% and pay a floating rate based on 3- month LIBOR, Expires 1/12/12, Broker UBS AG		1,700		98,536
Receive a fixed rate of 1.76% and pay a floating rate based on 3- month LIBOR, Expires 1/26/12, Broker Deutsche Bank AG		9,300		131,986
Receive a fixed rate of 4.29% and pay a floating rate based on 3- month LIBOR, Expires 2/06/12, Broker UBS AG		2,100		163,905
Receive a fixed rate of 4.33% and pay a floating rate based on 3- month LIBOR, Expires 2/07/12, Broker Goldman Sachs Bank USA		2,100		169,923
Receive a fixed rate of 4.07% and pay a floating rate based on 3- month LIBOR, Expires 3/29/12, Broker Bank of America NA		3,200		193,673
Receive a fixed rate of 4.07% and pay a floating rate based on 3- month LIBOR, Expires 3/29/12, Broker Royal Bank of Scotland Plc		2,600		157,773
Receive a fixed rate of 3.89% and pay a floating rate based on 3- month LIBOR, Expires 4/30/12, Broker Citibank NA		2,500		122,577
Receive a fixed rate of 3.86% and pay a floating rate based on 3- month LIBOR, Expires 5/02/12, Broker Credit Suisse International		3,800		178,817
Receive a fixed rate of 3.84% and pay a floating rate based on 3- month LIBOR, Expires 5/03/12, Broker Morgan Stanley Capital Services, Inc.		5,000		228,765


	Notional
	Amount
Options Purchased	(000)		Value
Over-the-Counter Call Swaptions (continued)
Receive a fixed rate of 3.86% and pay a floating rate based on 3- month LIBOR, Expires 5/03/12, Broker BNM	USD	3,300	$	154,574
Receive a fixed rate of 3.80% and pay a floating rate based on 3- month LIBOR, Expires 5/04/12, Broker BNM		3,200		140,400
Receive a fixed rate of 4.39% and pay a floating rate based on 3- month LIBOR, Expires 5/08/12, Broker Citibank NA		2,400		192,201
Receive a fixed rate of 3.79% and pay a floating rate based on 3- month LIBOR, Expires 5/10/12, Broker Citibank NA		4,100		177,605
Receive a fixed rate of 3.89% and pay a floating rate based on 3- month LIBOR, Expires 7/09/12, Broker Goldman Sachs Bank USA		4,200		198,826
Receive a fixed rate of 3.70% and pay a floating rate based on 3- month LIBOR, Expires 8/03/12, Broker Credit Suisse International		4,800		182,148
Receive a fixed rate of 3.30% and pay a floating rate based on 3- month LIBOR, Expires 10/22/12, Broker JPMorgan Chase Bank NA		4,000		89,916
Receive a fixed rate of 3.46% and pay a floating rate based on 3- month LIBOR, Expires 10/22/12, Broker UBS AG		5,500		151,711
Receive a fixed rate of 4.25% and pay a floating rate based on 3- month LIBOR, Expires 1/14/13, Broker Morgan Stanley Capital Services, Inc.		2,100		129,924
Receive a fixed rate of 3.81% and pay a floating rate based on 3- month LIBOR, Expires 9/17/13, Broker Citibank NA		1,500		57,567
Receive a fixed rate of 3.88% and pay a floating rate based on 3- month LIBOR, Expires 10/28/13, Broker Deutsche Bank AG		2,000		81,684
Receive a fixed rate of 4.49% and pay a floating rate based on 3- month LIBOR, Expires 5/20/14, Broker Morgan Stanley Capital Services, Inc.		600		37,565
Receive a fixed rate of 5.20% and pay a floating rate based on 3- month LIBOR, Expires 4/28/15, Broker Citibank NA		9,300		843,133


BLACKROCK CORE BOND TRUST	MAY 31, 2011	12




Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
	(Percentages shown are based on Net Assets)


	Notional
	Amount
Options Purchased	(000)		Value
Over-the-Counter Call Swaptions (concluded)
Receive a fixed rate of 4.88% and pay a floating rate based on 3- month LIBOR, Expires 5/16/16, Broker Royal Bank of Scotland Plc	USD	1,700	$	122,152
Receive a fixed rate of 4.76% and pay a floating rate based on 3- month LIBOR, Expires 5/17/16, Broker Goldman Sachs Bank USA		1,800		121,328
				4,519,059
Over-the-Counter Put Options — 0.2%
EUR Put Option, Strike Price USD 0.87, Expires 7/07/11		2,200		29,349
EUR Put Option, Strike Price USD 1.44, Expires 8/05/11		16,200		534,110
				563,459
Over-the-Counter Put Swaptions — 0.9%
Pay a fixed rate of 2.50% and receive a floating rate based on 3-month LIBOR, Expires 8/18/11, Broker Bank of America NA		5,600		11,167
Pay a fixed rate of 2.55% and receive a floating rate based on 3-month LIBOR, Expires 8/19/11, Broker BNP Paribas SA		18,200		31,027
Pay a fixed rate of 2.55% and receive a floating rate based on 3-month LIBOR, Expires 8/19/11, Broker Credit Suisse International		12,200		20,799
Pay a fixed rate of 3.12% and receive a floating rate based on 3-month LIBOR, Expires 11/08/11, Broker Deutsche Bank AG		3,000		102,491
Pay a fixed rate of 3.54% and receive a floating rate based on 3-month LIBOR, Expires 12/01/11, Broker Citibank NA		6,500		122,031
Pay a fixed rate of 3.63% and receive a floating rate based on 3-month LIBOR, Expires 12/02/11, Broker Deutsche Bank AG		3,200		50,724
Pay a fixed rate of 3.99% and receive a floating rate based on 3-month LIBOR, Expires 1/12/12, Broker UBS AG		1,700		18,655
Pay a fixed rate of 1.76% and receive a floating rate based on 3-month LIBOR, Expires 1/26/12, Broker Deutsche Bank AG		9,300		17,815


	Notional
	Amount
Options Purchased	(000)		Value
Over-the-Counter Put Swaptions (continued)
Pay a fixed rate of 2.50% and receive a floating rate based on 3-month LIBOR, Expires 1/26/12, Broker Deutsche Bank AG	USD	4,500	$	3,202
Pay a fixed rate of 4.29% and receive a floating rate based on 3-month LIBOR, Expires 2/06/12, Broker UBS AG		2,100		16,154
Pay a fixed rate of 4.33% and receive a floating rate based on 3-month LIBOR, Expires 2/07/12, Broker UBS AG		2,100		15,163
Pay a fixed rate of 4.07% and receive a floating rate based on 3-month LIBOR, Expires 3/29/2012, Broker Bank of America NA		3,200		49,426
Pay a fixed rate of 4.07% and receive a floating rate based on 3-month LIBOR, Expires 3/29/12, Broker Royal Bank of Scotland Plc		2,600		40,013
Pay a fixed rate of 3.89% and receive a floating rate based on 3-month LIBOR, Expires 4/30/12, Broker Citibank NA		2,500		57,126
Pay a fixed rate of 3.86% and receive a floating rate based on 3-month LIBOR, Expires 5/02/12, Broker Credit Suisse International		3,800		91,512
Pay a fixed rate of 3.84% and receive a floating rate based on 3-month LIBOR, Expires 5/03/12, Broker Morgan Stanley Capital Services, Inc.		5,000		124,827
Pay a fixed rate of 3.86% and receive a floating rate based on 3-month LIBOR, Expires 5/03/12, Broker BNM		3,300		80,321
Pay a fixed rate of 3.80% and receive a floating rate based on 3-month LIBOR, Expires 5/04/12, Broker BNM		3,200		83,764
Pay a fixed rate of 4.39% and receive a floating rate based on 3-month LIBOR, Expires 5/08/12, Broker Citibank NA		2,400		29,134
Pay a fixed rate of 3.79% and receive a floating rate based on 3-month LIBOR, Expires 5/10/12, Broker Citibank NA		4,100		111,040
Pay a fixed rate of 3.89% and receive a floating rate based on 3-month LIBOR, Expires 7/09/12, Broker Goldman Sachs Bank USA		4,200		123,548


BLACKROCK CORE BOND TRUST	MAY 31, 2011	13




Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
	(Percentages shown are based on Net Assets)


	Notional
	Amount
Options Purchased	(000)		Value
Over-the-Counter Put Swaptions (concluded)
Pay a fixed rate of 3.93% and receive a floating rate based on 3-month LIBOR, Expires 7/16/12, Broker Goldman Sachs Bank USA	USD	4,700	$	231,646
Pay a fixed rate of 3.93% and receive a floating rate based on 3-month LIBOR, Expires 7/16/12, Broker Goldman Sachs Bank USA		4,700		135,032
Pay a fixed rate of 3.70% and receive a floating rate based on 3-month LIBOR, Expires 8/03/12, Broker Credit Suisse International		4,800		184,759
Pay a fixed rate of 3.30% and receive a floating rate based on 3-month LIBOR, Expires 10/22/12, Broker JPMorgan Chase Bank NA		4,000		260,112
Pay a fixed rate of 3.46% and receive a floating rate based on 3-month LIBOR, Expires 10/22/12, Broker UBS AG		5,500		313,963
Pay a fixed rate of 4.25% and receive a floating rate based on 3-month LIBOR, Expires 1/14/13, Broker Morgan Stanley Capital Services, Inc.		2,100		69,613
Pay a fixed rate of 3.81% and receive a floating rate based on 3-month LIBOR, Expires 9/17/13, Broker Citibank NA		1,500		102,223
Pay a fixed rate of 3.88% and receive a floating rate based on 3-month LIBOR, Expires 10/28/13, Broker Deutsche Bank AG		2,000		134,981
Pay a fixed rate of 4.49% and receive a floating rate based on 3-month LIBOR, Expires 5/20/14, Broker Morgan Stanley Capital Services, Inc.		600		33,213
Pay a fixed rate of 5.20% and receive a floating rate based on 3-month LIBOR, Expires 4/28/15, Broker Citibank NA		9,300		435,154
Pay a fixed rate of 4.88% and receive a floating rate based on 3-month LIBOR, Expires 5/16/16, Broker Royal Bank of Scotland Plc		1,700		111,584
Pay a fixed rate of 4.76% and receive a floating rate based on 3-month LIBOR, Expires 5/17/16, Broker Goldman Sachs Bank USA		1,800		124,744
				3,336,963
Total Options Purchased (Cost – $10,202,361) – 2.4%				8,759,555


			Value
Total Investments Before TBA Sale Commitments and Outstanding Options Written (Cost – $584,463,374) – 161.8%			$	602,700,727

TBA Sale Commitments	Par (000)
Fannie Mae, Mortgage-Backed Securities, 6.00%, 12/01/99 (l)	USD	8,500		(9,348,674	)
Government National Mortgage Association, Mortgage-Backed Securities, 5.50%, 12/15/99 (l)		100		(110,109	)
U.S. Treasury Note, 2.25%, 3/31/16		750		(772,500	)
Total TBA Sale Commitments – (2.7)%				(10,231,283	)


Options Written	Contracts
Exchange-Traded Call Options — (0.1)%
30-Year U.S. Treasury Bond, Strike Price USD 124.00, Expires 8/26/11		33		(94,875	)
Exchange-Traded Put Options — (0.0)%
30-Year U.S. Treasury Bond, Strike Price USD 124.00, Expires 8/26/11		33		(67,031	)
Eurodollar 1-Year Mid-Curve Options, Strike Price USD 97.75, Expires 9/16/11		790		(1,975	)
Eurodollar 1-Year Mid-Curve Options, Strike Price USD 98.00, Expires 9/16/11		555		(4,163	)
				(73,169	)

	Notional
	Amount
Options Written	(000)
Over-the-Counter Call Options — (0.0)%
USD Call Option, Strike Price USD 84.00, Expires 6/27/11, Broker Citibank NA		8,190		(16,626	)
USD Call Option, Strike Price USD 86.00, Expires 6/27/11, Broker Deutsche Bank AG		8,190		(3,194	)
				(19,820	)



BLACKROCK CORE BOND TRUST	MAY 31, 2011	14




Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
	(Percentages shown are based on Net Assets)


Options Written	Notional Amount (000)		Value
Over-the-Counter Call Swaptions — (2.1)%
Pay a fixed rate of 4.49% and receive a floating rate based on 3- month LIBOR, Expires 12/05/11, Broker Deutsche Bank AG	USD	4,000	$	(391,442	)
Pay a fixed rate of 3.82% and receive a floating rate based on 3- month LIBOR, Expires 12/08/11, Broker JPMorgan Chase Bank NA		3,200		(153,514	)
Pay a fixed rate of 3.83% and receive a floating rate based on 3- month LIBOR, Expires 12/12/11, Broker JPMorgan Chase Bank NA		2,300		(111,232	)
Pay a fixed rate of 3.85% and receive a floating rate based on 3- month LIBOR, Expires 12/12/11, Broker UBS AG		1,200		(60,218	)
Pay a fixed rate of 3.95% and receive a floating rate based on 3- month LIBOR, Expires 12/13/11, Broker Goldman Sachs Bank USA		3,500		(198,270	)
Pay a fixed rate of 4.00% and receive a floating rate based on 3- month LIBOR, Expires 1/05/12, Broker JPMorgan Chase Bank NA		3,200		(188,780	)
Pay a fixed rate of 4.02% and receive a floating rate based on 3- month LIBOR, Expires 2/02/12, Broker Goldman Sachs Bank USA		2,700		(159,073	)
Pay a fixed rate of 4.02% and receive a floating rate based on 3- month LIBOR, Expires 2/02/12, Broker UBS AG		3,600		(213,288	)
Pay a fixed rate of 2.08% and receive a floating rate based on 3- month LIBOR, Expires 2/07/12, Broker Goldman Sachs Bank USA		9,300		(181,958	)
Pay a fixed rate of 3.90% and receive a floating rate based on 3- month LIBOR, Expires 3/19/12, Broker UBS AG		5,500		(276,575	)
Pay a fixed rate of 4.02% and receive a floating rate based on 3- month LIBOR, Expires 3/26/12, Broker UBS AG		2,400		(137,555	)
Pay a fixed rate of 4.03% and receive a floating rate based on 3- month LIBOR, Expires 4/16/12, Broker Citibank NA		4,800		(276,553	)
Pay a fixed rate of 3.95% and receive a floating rate based on 3- month LIBOR, Expires 4/19/12, Broker Deutsche Bank AG		1,900		(99,346	)
Pay a fixed rate of 3.98% and receive a floating rate based on 3- month LIBOR, Expires 4/20/12, Broker Citibank NA		1,800		(97,270	)

Options Written	Notional Amount (000)		Value
Over-the-Counter Call Swaptions (continued)
Pay a fixed rate of 3.98% and receive a floating rate based on 3- month LIBOR, Expires 4/20/12, Broker Deutsche Bank AG	USD	4,300	$	(232,367	)
Pay a fixed rate of 3.98% and receive a floating rate based on 3- month LIBOR, Expires 4/20/12, Broker Bank of America NA		2,500		(136,212	)
Pay a fixed rate of 3.93% and receive a floating rate based on 3- month LIBOR, Expires 4/27/12, Broker Deutsche Bank AG		7,500		(382,033	)
Pay a fixed rate of 3.93% and receive a floating rate based on 3- month LIBOR, Expires 4/27/12, Broker UBS AG		6,200		(315,814	)
Pay a fixed rate of 3.72% and receive a floating rate based on 3- month LIBOR, Expires 5/14/12, Broker Deutsche Bank AG		1,800		(71,263	)
Pay a fixed rate of 3.75% and receive a floating rate based on 3- month LIBOR, Expires 5/14/12, Broker Goldman Sachs Bank USA		2,500		(101,471	)
Pay a fixed rate of 3.79% and receive a floating rate based on 3- month LIBOR, Expires 5/21/12, Broker Deutsche Bank AG		1,300		(56,309	)
Pay a fixed rate of 4.14% and receive a floating rate based on 3- month LIBOR, Expires 6/15/12, Broker Deutsche Bank AG		3,700		(230,379	)
Pay a fixed rate of 4.05% and receive a floating rate based on 3- month LIBOR, Expires 6/18/12, Broker Deutsche Bank AG		3,500		(199,418	)
Pay a fixed rate of 3.83% and receive a floating rate based on 3- month LIBOR, Expires 7/30/12, Broker Citibank NA		1,200		(52,973	)
Pay a fixed rate of 3.77% and receive a floating rate based on 3- month LIBOR, Expires 11/23/12, Broker UBS AG		3,300		(130,972	)
Pay a fixed rate of 3.86% and receive a floating rate based on 3- month LIBOR, Expires 11/23/12, Broker Deutsche Bank AG		4,600		(199,307	)
Pay a fixed rate of 4.03% and receive a floating rate based on 3- month LIBOR, Expires 12/06/12, Broker UBS AG		2,000		(102,714	)
Pay a fixed rate of 4.52% and receive a floating rate based on 3- month LIBOR, Expires 3/01/13, Broker UBS AG		2,200		(165,475	)



BLACKROCK CORE BOND TRUST	MAY 31, 2011	15




Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
	(Percentages shown are based on Net Assets)


Options Written	Notional Amount (000)		Value
Over-the-Counter Call Swaptions (concluded)
Pay a fixed rate of 4.90% and receive a floating rate based on 3- month LIBOR, Expires 3/04/13, Broker Deutsche Bank AG	USD	4,800	$	(470,556	)
Pay a fixed rate of 4.92% and receive a floating rate based on 3- month LIBOR, Expires 3/05/13, Broker Deutsche Bank AG		7,000		(697,169	)
Pay a fixed rate of 5.00% and receive a floating rate based on 3- month LIBOR, Expires 4/22/13, Broker JPMorgan Chase Bank NA		6,100		(624,547	)
Pay a fixed rate of 4.32% and receive a floating rate based on 3- month LIBOR, Expires 5/28/13, Broker Royal Bank of Scotland Plc		500		(30,953	)
Pay a fixed rate of 4.07% and receive a floating rate based on 3- month LIBOR, Expires 7/08/13, Broker Deutsche Bank AG		1,700		(84,521	)
Pay a fixed rate of 4.06% and receive a floating rate based on 3- month LIBOR, Expires 7/15/13, Broker Credit Suisse International		2,600		(127,871	)
Pay a fixed rate of 4.06% and receive a floating rate based on 3- month LIBOR, Expires 7/15/13, Broker Credit Suisse International		2,600		(137,922	)
Pay a fixed rate of 5.08% and receive a floating rate based on 3- month LIBOR, Expires 2/10/14, Broker Bank of America NA		3,500		(332,655	)
Pay a fixed rate of 4.84% and receive a floating rate based on 3- month LIBOR, Expires 12/02/14, Broker JPMorgan Chase Bank NA		2,500		(189,401	)
Pay a fixed rate of 4.89% and receive a floating rate based on 3- month LIBOR, Expires 12/03/14, Broker Deutsche Bank AG		2,900		(226,422	)
				(7,843,798	)
Over-the-Counter Put Options — (0.1)%
EUR Put Option, Strike Price USD 0.87, Expires 7/07/11, Broker Citibank NA	EUR	2,200		(29,349	)
EUR Put Option, Strike Price USD 1.40, Expires 8/05/11, Broker Deutsche Bank AG		16,200		(283,258	)
				(312,607	)

Options Written	Notional Amount (000)		Value
Over-the-Counter Put Swaptions — (0.9)%
Receive a fixed rate of 4.10% and pay a floating rate based on 3- month LIBOR, Expires 11/14/11, Broker UBS AG	USD	5,500	$	(26,660	)
Receive a fixed rate of 4.49% and pay a floating rate based on 3- month LIBOR, Expires 12/05/11, Broker Deutsche Bank AG		4,000		(10,259	)
Receive a fixed rate of 3.82% and pay a floating rate based on 3- month LIBOR, Expires 12/08/11, Broker JPMorgan Chase Bank NA		3,200		(36,947	)
Receive a fixed rate of 3.83% and pay a floating rate based on 3- month LIBOR, Expires 12/12/11, Broker JPMorgan Chase Bank NA		2,300		(26,936	)
Receive a fixed rate of 3.85% and pay a floating rate based on 3- month LIBOR, Expires 12/12/11, Broker UBS AG		1,200		(13,317	)
Receive a fixed rate of 3.95% and pay a floating rate based on 3- month LIBOR, Expires 12/13/11, Broker Goldman Sachs Bank USA		3,500		(32,388	)
Receive a fixed rate of 4.00% and pay a floating rate based on 3- month LIBOR, Expires 1/05/12, Broker JPMorgan Chase Bank NA		3,200		(32,630	)
Receive a fixed rate of 4.02% and pay a floating rate based on 3- month LIBOR, Expires 2/02/12, Broker Goldman Sachs Bank USA		2,700		(32,700	)
Receive a fixed rate of 4.02% and pay a floating rate based on 3- month LIBOR, Expires 2/02/12, Broker UBS AG		3,600		(43,235	)
Receive a fixed rate of 2.08% and pay a floating rate based on 3- month LIBOR, Expires 2/07/12, Broker Goldman Sachs Bank USA		9,300		(12,980	)
Receive a fixed rate of 3.90% and pay a floating rate based on 3- month LIBOR, Expires 3/19/12, Broker UBS AG		5,500		(103,106	)
Receive a fixed rate of 4.02% and pay a floating rate based on 3- month LIBOR, Expires 3/26/12, Broker UBS AG		2,400		(39,286	)
Receive a fixed rate of 4.03% and pay a floating rate based on 3- month LIBOR, Expires 4/16/12, Broker Citibank NA		4,800		(85,470	)
Receive a fixed rate of 3.95% and pay a floating rate based on 3- month LIBOR, Expires 4/19/12, Broker Deutsche Bank AG		1,900		(38,700	)



BLACKROCK CORE BOND TRUST	MAY 31, 2011	16




Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)
	(Percentages shown are based on Net Assets)


Options Written	Notional Amount (000)		Value
Over-the-Counter Put Swaptions (continued)
Receive a fixed rate of 3.98% and pay a floating rate based on 3- month LIBOR, Expires 4/20/12, Broker Citibank NA	USD	1,800	$	(35,352	)
Receive a fixed rate of 3.98% and pay a floating rate based on 3- month LIBOR, Expires 4/20/12, Broker Deutsche Bank AG		4,300		(84,453	)
Receive a fixed rate of 3.98% and pay a floating rate based on 3- month LIBOR, Expires 4/20/12, Broker Bank of America NA		2,500		(48,607	)
Receive a fixed rate of 3.96% and pay a floating rate based on 3- month LIBOR, Expires 4/23/12, Broker Deutsche Bank AG		2,700		(142,921	)
Receive a fixed rate of 3.96% and pay a floating rate based on 3- month LIBOR, Expires 4/23/12, Broker Deutsche Bank AG		2,700		(54,933	)
Receive a fixed rate of 3.93% and pay a floating rate based on 3- month LIBOR, Expires 4/27/12, Broker Deutsche Bank AG		7,500		(162,475	)
Receive a fixed rate of 3.93% and pay a floating rate based on 3- month LIBOR, Expires 4/27/12, Broker UBS AG		6,200		(134,312	)
Receive a fixed rate of 3.72% and pay a floating rate based on 3- month LIBOR, Expires 5/14/12, Broker Deutsche Bank AG		1,800		(53,917	)
Receive a fixed rate of 3.75% and pay a floating rate based on 3- month LIBOR, Expires 5/14/12, Broker Goldman Sachs Bank USA		2,500		(73,099	)
Receive a fixed rate of 3.79% and pay a floating rate based on 3- month LIBOR, Expires 5/21/12, Broker Deutsche Bank AG		1,300		(36,456	)
Receive a fixed rate of 4.14% and pay a floating rate based on 3- month LIBOR, Expires 6/15/12, Broker Deutsche Bank AG		3,700		(74,579	)
Receive a fixed rate of 4.05% and pay a floating rate based on 3- month LIBOR, Expires 6/18/12, Broker Deutsche Bank AG		3,500		(79,250	)
Receive a fixed rate of 3.83% and pay a floating rate based on 3- month LIBOR, Expires 7/30/12, Broker Citibank NA		1,200		(39,830	)
Receive a fixed rate of 3.77% and pay a floating rate based on 3- month LIBOR, Expires 11/23/12, Broker UBS AG		3,300		(151,523	)

Options Written	Notional Amount (000)		Value
Over-the-Counter Put Swaptions (concluded)
Receive a fixed rate of 3.86% and pay a floating rate based on 3- month LIBOR, Expires 11/23/12, Broker Deutsche Bank AG	USD	4,600	$	(196,114	)
Receive a fixed rate of 4.03% and pay a floating rate based on 3- month LIBOR, Expires 12/06/12, Broker UBS AG		2,000		(74,706	)
Receive a fixed rate of 4.52% and pay a floating rate based on 3- month LIBOR, Expires 3/01/13, Broker UBS AG		2,200		(63,537	)
Receive a fixed rate of 4.90% and pay a floating rate based on 3- month LIBOR, Expires 3/04/13, Broker Deutsche Bank AG		4,800		(99,232	)
Receive a fixed rate of 4.92% and pay a floating rate based on 3- month LIBOR, Expires 3/05/13, Broker Deutsche Bank AG		7,000		(141,857	)
Receive a fixed rate of 5.00% and pay a floating rate based on 3- month LIBOR, Expires 4/22/13, Broker JPMorgan Chase Bank NA		6,100		(129,762	)
Receive a fixed rate of 4.32% and pay a floating rate based on 3- month LIBOR, Expires 5/28/13, Broker Royal Bank of Scotland Plc		500		(20,332	)
Receive a fixed rate of 4.07% and pay a floating rate based on 3- month LIBOR, Expires 7/08/13, Broker Deutsche Bank AG		1,700		(88,696	)
Receive a fixed rate of 5.08% and pay a floating rate based on 3- month LIBOR, Expires 2/10/14, Broker Bank of America NA		3,500		(117,093	)
Receive a fixed rate of 5.09% and pay a floating rate based on 3- month LIBOR, Expires 2/10/14, Broker Goldman Sachs Bank USA		3,800		(363,313	)
Receive a fixed rate of 5.09% and pay a floating rate based on 3- month LIBOR, Expires 2/10/14, Broker Goldman Sachs Bank USA		3,800		(126,242	)
Receive a fixed rate of 4.84% and pay a floating rate based on 3- month LIBOR, Expires 12/02/14, Broker JPMorgan Chase Bank NA		2,500		(130,667	)
Receive a fixed rate of 4.89% and pay a floating rate based on 3- month LIBOR, Expires 12/03/14, Broker Deutsche Bank AG		2,900		(147,286	)
				(3,405,158	)
Total Options Written (Premiums Received – $12,771,953) – (3.2)%				(11,749,427	)



BLACKROCK CORE BOND TRUST	MAY 31, 2011	17



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets)


Total Investments, Net of TBA Sale Commitments and Outstanding Options Written – 155.9%	$	580,720,017
Liabilities in Excess of Other Assets – (55.9)%		(208,174,306	)
Net Assets – 100.0%	$	372,545,711



*	The cost and unrealized appreciation (depreciation) of investments as of May 31, 2011, as computed for federal income tax purposes, were as follows:


Aggregate cost	$	585,018,660
Gross unrealized appreciation	$	28,277,020
Gross unrealized depreciation		(10,594,953	)
Net unrealized appreciation	$	17,682,067


(a)	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.

(b)	Variable rate security.

(c)	All or a portion of security has been pledged as collateral in connection with open reverse repurchase agreements.

(d)	Represents a step-down bond that pays an initial coupon rate for the first period and then a lower coupon rate for the following periods. Rate shown is as of report date.

(e)	Represents a payment-in-kind security which may pay interest/dividends in additional par/shares.

(f)	Security is perpetual in nature and has no stated maturity date.

(g)	When-issued security. Unsettled when-issued transactions were as follows:


Counterparty	Value		Unrealized Appreciation (Depreciation)
RBC Capital Markets	$	1,383,831	$	5,045
Bank of America NA	$	448,650	$	(1,750	)
Goldman Sachs & Co.	$	291,682	$	3,764



(h)	Convertible security.

(i)	Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income producing.

(j)	Non-income producing security.

(k)	Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

(l)	Represents or includes a to-be-announced (“TBA”) transaction. Unsettled TBA transactions as of report date were as follows:


Counterparty	Value		Unrealized Appreciation (Depreciation)
CitiGroup Global Markets, Inc.	$	3,719,025	$	50,112
Credit Suisse Securities LLC	$	106,313	$	1,234
Deutsche Bank Securities, Inc.	$	9,905,420	$	111,453
Goldman Sachs & Co.	$	4,376,077	$	27,983
JPMorgan Securities Ltd.	$	18,184,650	$	50,112
Nomura Securities International, Inc.	$	16,213,199	$	98,105
UBS Securities	$	750,532	$	3,719



(m)	Warrants entitle the Trust to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date, if any.

(n)	Investments in companies considered to be an affiliate of the Trust during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:


Affiliate	Shares Held at August 31, 2010		Net Activity			Shares Held at May 31, 2011		Income
BlackRock Liquidity Funds, TempFund, Institutional Class		506,274		(467,975	)		38,299	$	99


(o)	Represents the current yield as of report date.


BLACKROCK CORE BOND TRUST	MAY 31, 2011	18



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)


•	Reverse repurchase agreements outstanding as of May 31, 2011 were as follows:


Counterparty	Interest Rate	Trade Date	Maturity Date	Net Closing Amount		Face Amount
Bank of America NA	0.11%	3/31/11	12/09/22	$	772,035	$	772,031
Credit Suisse Securities (USA), Inc.	0.10%	3/31/11	9/15/39		1,382,671		1,382,100
Bank of America NA	0.11%	4/01/11	9/30/19		813,045		812,825
Credit Suisse Securities (USA), Inc.	0.10%	4/01/11	9/15/39		1,017,810		1,017,500
Barclay’s Capital, Inc.	0.07%	4/27/11	9/09/24		1,204,082		1,204,000
Barclay’s Capital, Inc.	0.07%	4/27/11	10/09/19		1,848,387		3,848,125
Barclay’s Capital, Inc.	0.04%	4/27/11	8/15/23		7,221,781		7,221,500
Credit Suisse Securities (USA), LLC	0.04%	4/27/11	8/15/21		2,210,774		2,210,688
Barclay’s Capital, Inc.	0.35%	5/03/11	6/10/14		816,886		816,656
Barclay’s Capital, Inc.	0.05%	5/03/11	5/15/39		2,120,085		2,120,000
Barclay’s Capital, Inc.	0.35%	5/03/11	6/26/17		1,044,107		1,043,813
Deutsche Bank Securities, Inc.	0.45%	5/03/11	2/15/38		2,242,688		2,241,875
Deutsche Bank Securities, Inc.	0.45%	5/03/11	1/11/13		2,488,640		2,487,738
Deutsche Bank Securities, Inc.	0.38%	5/04/11	11/01/18		2,786,923		2,786,100
Credit Suisse Securities (USA), Inc.	0.40%	5/05/11	11/25/39		3,093,684		3,092,756
UBS Securities LLC	0.35%	5/05/11	1/20/15		3,417,335		3,416,438
Bank of America NA	0.05%	5/06/11	5/15/40		6,550,550		6,550,313
Bank of America NA	0.05%	5/06/11	5/15/39		3,959,487		3,959,344
UBS Securities LLC	0.38%	5/06/11	5/14/13		1,857,435		1,856,925
UBS Securities LLC	0.40%	5/06/11	6/10/14		2,122,363		2,121,750
UBS Securities LLC	0.38%	5/06/11	9/15/15		2,326,750		2,326,112
Deutsche Bank Securities, Inc.	0.38%	5/09/11	12/15/15		7,605,046		7,603,200
Deutsche Bank Securities, Inc.	0.40%	5/09/11	4/23/19		2,180,557		2,180,000
Deutsche Bank Securities, Inc.	0.40%	5/09/11	11/25/14		1,925,817		1,925,325
Deutsche Bank Securities, Inc.	0.38%	5/09/11	1/15/19		3,673,642		3,672,750
Deutsche Bank Securities, Inc.	0.40%	5/09/11	3/01/39		1,428,365		1,428,000
Deutsche Bank Securities, Inc.	0.40%	5/09/11	5/15/37		2,110,539		2,110,000
Deutsche Bank Securities, Inc.	0.38%	5/09/11	8/28/17		2,084,906		2,084,400
Deutsche Bank Securities, Inc.	0.38%	5/09/11	2/07/16		3,052,461		3,051,720
Deutsche Bank Securities, Inc.	0.38%	5/09/11	8/01/14		3,614,252		3,613,375
BNP Paribas	0.13%	5/12/11	6/13/11		2,316,037		2,315,870
Deutsche Bank Securities, Inc.	0.38%	5/16/11	10/01/17		2,836,629		2,836,150
Credit Suisse Securities (USA), Inc.	0.40%	5/18/11	9/30/14		1,057,696		1,057,531
Deutsche Bank Securities, Inc.	0.10%	5/18/11	11/15/40		6,370,366		6,370,035
Deutsche Bank Securities, Inc.	0.40%	5/19/11	1/27/40		1,372,198		1,372,000
Deutsche Bank Securities, Inc.	0.40%	5/19/11	9/15/37		2,676,136		2,675,750
Deutsche Bank Securities, Inc.	0.40%	5/19/11	9/01/37		1,302,188		1,302,000
Deutsche Bank Securities, Inc.	0.40%	5/19/11	8/15/37		2,071,299		2,071,000
Credit Suisse Securities (USA), Inc.	0.37%	5/26/11	6/15/11		9,988,116		9,987,500
Credit Suisse Securities (USA), Inc.	0.33%	5/27/11	6/15/11		7,035,322		7,035,000
Barclay’s Capital, Inc.	0.35%	5/31/11	2/15/38		1,439,494		1,439,480
BNP Paribas	0.21%	5/31/11	6/01/11		14,639,298		14,639,213
BNP Paribas	0.11%	5/31/11	6/01/11		10,485,032		10,485,000
Credit Suisse Securities (USA), Inc.	0.15%	5/31/11	6/01/11		11,745,049		11,745,000
Credit Suisse Securities (USA), LLC	0.12%	5/31/11	6/01/11		290,726		290,725
Deutsche Bank Securities, Inc.	0.15%	5/31/11	6/01/11		4,690,020		4,690,000
Deutsche Bank Securities, Inc.	0.06%	5/31/11	6/01/11		1,110,527		1,110,525


BLACKROCK CORE BOND TRUST	MAY 31, 2011	19



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)


Deutsche Bank Securities, Inc.	0.10	%	5/31/11	6/01/11		10,510,029		10,510,000
Total					$	170,909,265	$	172,890,138


•	Financial futures contracts purchased as of May 31, 2011 were as follows:


Contracts	Issue	Exchange	Expiration	Notional Value		Unrealized Appreciation (Depreciation)
331	30-Year U.S Treasury Bond	Chicago Board of Trade	September 2011	$	41,204,403	$	118,878
16	5-Year U.S. Treasury Note	Chicago Board of Trade	September 2011		1,904,330		1,920
16	Euro-Bund Future	Eurex	June 2011		2,806,138		69,662
4	Euro-Bund Future	Eurex	June 2011		710,840		8,917
41	Euro-Dollar Future	Chicago Mercantile	June 2012		10,177,413		6,987
8	USD Index Currency	Chicago Board of Trade	June 2011		605,310		(7,742	)
Total						$	198,622


•	Financial futures contracts sold as of May 31, 2011 were as follows:


Contracts	Issue	Exchange	Expiration	Notional Value		Unrealized Appreciation (Depreciation)
2	10-Year Japan Government Bond	Tokyo Stock Exchange	June 2011	$	3,441,255	$	961
1	AUD-Dollar Future	Sydney Futures Exchange	June 2011		105,829		(631	)
9	10-Year U.S. Treasury Note	Chicago Board of Trade	June 2011		1,113,241		(3,041	)
48	10-Year U.S Treasury Bond	Chicago Board of Trade	September 2011		6,170,099		(24,901	)
579	10-Year U.S. Treasury Note	Chicago Board of Trade	September 2011		70,601,874		(388,954	)
229	2-Year U.S. Treasury Note	Chicago Board of Trade	September 2011		50,124,729		(69,209	)
59	Euro-Dollar Future	Chicago Mercantile	December 2011		14,589,078		(101,923	)
41	Euro-Dollar Future	Chicago Mercantile	June 2013		10,070,587		(15,413	)
Total						$	(603,111	)


•	Foreign currency exchange contracts as of May 31, 2011 were as follows:


Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
BRL	1,777,050	USD	1,124,786	Goldman Sachs Capital Markets LP	6/02/11	$	1,533
BRL	2,406,480	USD	1,523,185	HSBC Bank USA	6/02/11		2,076
BRL	884,400	USD	559,782	JPMorgan Chase Bank	6/02/11		763
BRL	1,186,798	USD	751,185	JPMorgan Chase Bank	6/02/11		1,024
BRL	885,225	USD	560,304	Royal Bank of Scotland Plc	6/02/11		764
BRL	6,932,300	USD	4,410,000	UBS AG	6/02/11		(16,212	)
USD	1,100,000	BRL	1,777,050	Goldman Sachs Capital Markets LP	6/02/11		(26,319	)
USD	1,480,000	BRL	2,406,480	HSBC Bank USA	6/02/11		(45,261	)
USD	730,000	BRL	1,186,798	JPMorgan Securities Inc.	6/02/11		(22,209	)
USD	550,000	BRL	884,400	JPMorgan Securities Inc.	6/02/11		(10,545	)
USD	550,000	BRL	885,225	Royal Bank of Scotland Plc	6/02/11		(11,068	)
USD	4,387,809	BRL	6,932,300	UBS AG	6/02/11		(5,979	)
AUD	1,040,000	USD	1,101,408	Deutsche Bank AG London	6/14/11		7,357
USD	552,638	AUD	525,000	Citibank NA	6/14/11		(7,075	)
USD	553,676	AUD	525,000	Goldman Sachs Capital Markets LP	6/14/11		(6,038	)
USD	1,115,014	AUD	1,040,000	UBS AG	6/14/11		6,249
JPY	53,818,057	USD	655,500	BNP Paribas SA	6/16/11		4,795
JPY	66,125,877	USD	804,500	UBS AG	6/16/11		6,799
USD	370,000	JPY	29,882,162	Deutsche Bank AG London	6/16/11		3,375


BLACKROCK CORE BOND TRUST	MAY 31, 2011	20



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)


USD	1,090,000	JPY	88,052,925	Royal Bank of Scotland Plc	6/16/11		9,677
CNY	23,485,280	USD	3,640,000	Deutsche Bank AG London	6/27/11		(11,194	)
JPY	147,383,600	USD	1,820,000	BNP Paribas SA	6/29/11		(11,669	)
JPY	75,279,150	USD	900,000	Citibank NA	6/29/11		23,642
USD	450,000	JPY	37,396,800	Citibank NA	6/29/11		(8,842	)
USD	900,000	JPY	73,331,100	Citibank NA	6/29/11		260
USD	3,600,000	JPY	307,476,000	Royal Bank of Scotland Plc	6/29/11		(172,594	)
USD	8,466,843	EUR	5,824,500	UBS AG	7/27/11		96,204
EUR	1,320,000	USD	1,887,001	Deutsche Bank AG London	8/09/11		9,350
EUR	1,570,000	USD	2,218,454	Deutsche Bank AG London	8/09/11		37,054
EUR	820,000	USD	1,165,100	Goldman Sachs Capital Markets LP	8/09/11		12,936
USD	1,115,711	EUR	790,000	Deutsche Bank AG London	8/09/11		(19,226	)
USD	1,162,569	EUR	820,000	Deutsche Bank AG London	8/09/11		(15,467	)
USD	1,099,812	EUR	780,000	Royal Bank of Scotland Plc	8/09/11		(20,758	)
Total						$	(186,598	)


•	Credit default swaps on single-name issues - buy protection outstanding as of May 31, 2011 were as follows:


Issuer	Pay Fixed Rate			Counterparty	Expiration Date	Notional Amount (000)		Unrealized Appreciation (Depreciation)
Radian Group, Inc.		5.00	%	Citibank NA	3/20/13	$	1,400	$	13,963
Radian Group, Inc.		5.00	%	Citibank NA	6/20/15	$	1,400		86,252
Spain (Kingdom of)		1.00	%	Citibank NA	3/20/16	$	468		(1,639	)
Spain (Kingdom of)		1.00	%	JPMorgan Chase Bank NA	3/20/16	$	1,171		(1,657	)
The PMI Group, Inc.		5.00	%	Citibank NA	9/20/16	$	1,400		230,326
The New York Times Co.		1.00	%	Barclays Bank Plc	12/20/16	$	1,800		29,514
Total								$	356,759


•	Credit default swaps on single-name issues - sold protection outstanding as of May 31, 2011 were as follows:

Issuer

Receive
Fixed
Rate

Counterparty

Expiration
Date

Issuer
Credit
Rating¹

Notional
Amount
(000)²

Unrealized
Appreciation

Aviva USA Corp.

1.00

Deutsche Bank AG

5/25/12

BBB+

1,150

878


¹	Using Standard & Poor’s (“S&P’s”) rating.

²	The maximum potential amount the Trust may pay should a negative event take place as defined under the terms of agreement.

•	Credit default swaps on traded indexes - buy protection outstanding as of May 31, 2011 were as follows:


Index	Pay Fixed Rate			Counterparty	Expiration Date	Notional Amount (000)		Unrealized Depreciation
Dow Jones CDX Emerging Markets Series 14		5.00	%	Morgan Stanley Capital Services, Inc.	12/20/15	$	990	$	(7,790	)
Dow Jones CDX Emerging Markets Series 15		5.00	%	Credit Suisse International	12/20/15	$	5,000		(1,303	)
Total								$	(9,093	)


BLACKROCK CORE BOND TRUST	MAY 31, 2011	21



Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)


•	Interest rate swaps outstanding as of May 31, 2011 were as follows:


Fixed Rate	Floating Rate	Counterparty	Expiration Date	Notional Amount (000)		Unrealized Appreciation (Depreciation)
0.27% (a)	3-month LIBOR	Citibank NA	4/19/16	$	400		(8,952	)
2.20% (b)	3-month LIBOR	Bank of America NA	8/22/16	$	1,600		8,955
2.31% (b)	3-month LIBOR	BNP Paribas	8/23/16	$	5,800		62,530
2.31% (b)	3-month LIBOR	Credit Suisse Securities (USA) LLC	8/23/16	$	3,900		42,046
4.22% (b)	3-month LIBOR	Credit Suisse Securities (USA) LLC	5/04/21	$	7,800		456,552
0.26% (a)	3-month LIBOR	Deutsche Bank AG	5/16/21	$	1,890		(20,787	)
4.01% (b)	3-month LIBOR	Goldman Sachs & CO.	5/18/21	$	6,000		224,788
3.86% (b)	3-month LIBOR	JP Morgan Chase & Co.	5/23/21	$	10,700		240,704
0.25% (a)	3-month LIBOR	UBS AG	6/02/21	$	3,700		(373	)
0.28% (a)	3-month LIBOR	Citibank NA	4/14/41	$	900		(59,822	)
0.28% (a)	3-month LIBOR	Deutsche Bank AG	4/14/41	$	300		(20,712	)
Total						$	924,929


^(a)	Pays a fixed interest rate and receives floating rate.

^(b)	Pays floating rate and receives fixed rate.


BLACKROCK CORE BOND TRUST	MAY 31, 2011	22




Schedule of Investments (continued)	BlackRock Core Bond Trust (BHK)


• For Trust compliance purposes, the Trust’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Trust management. This definition may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

	Fair Value Measurements—Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are summarized in three broad levels for financial reporting purposes as follows:

	•	Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

	•	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 and derivative financial instruments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its semi-annual report.

The following tables summarize the inputs used as of May 31, 2011 in determining the fair valuation of the Trust’s investments and derivative financial instruments:


Valuation Inputs	Level 1		Level 2			Level 3		Total
Assets:
Investments in Securities:
Asset-Backed Securities		—	$	22,126,323		$	5,511,124	$	27,637,447
Common Stocks		—		—			1		1
Corporate Bonds		—		299,525,592			3,126,152		302,651,744
Foreign Agency Obligations		—		2,751,206			—		2,751,206
Non-Agency Mortgage- Backed Securities		—		72,544,601			3,639,418		76,184,019
Other Interests		—					191		191
Preferred Securities	$	891,780		5,557,768			102,280		6,551,828
Taxable Municipal Bonds		—		10,058,292			—		10,058,292
U.S. Government Sponsored Agency Securities		—		71,753,192			—		71,753,192
U.S. Treasury Obligations		—		96,200,049			—		96,200,049
Warrants		—		—			114,904		114,904
Short-Term Securities		38,299		—			—		38,299
Liabilities:
TBA Sale Commitments		—		(10,231,283	)		—		(10,231,283	)
Total	$	930,079	$	570,285,740		$	12,494,070	$	583,709,889


Valuation Inputs	Level 1			Level 2			Level 3		Total
Derivative Financial Instruments¹
Assets:
Credit contracts		—		$	360,933			—	$	360,933
Foreign currency exchange contracts		—			223,858			—		223,858
Interest rate contracts	$	441,213			9,561,243			—		10,002,456
Liabilities:
Credit contracts		—			(12,389	)		—		(12,389	)
Foreign currency exchange contracts		—			(410,456	)		—		(410,456	)
Interest rate contracts	$	(779,859	)		(11,692,029	)		—		(12,471,888	)
Total	$	(338,646	)	$	(1,968,840	)		—	$	(2,307,486	)


¹ Derivative financial instruments are swaps, financial futures contracts, foreign currency exchange contracts and options. Swaps, financial futures contracts and foreign currency exchange contracts are valued at the unrealized appreciation/depreciation on the instrument and options are shown at value.


	BLACKROCK CORE BOND TRUST	MAY 31, 2011	23



Schedule of Investments (concluded)	BlackRock Core Bond Trust (BHK)

The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:


	Asset- Backed Securities			Common Stock			Corporate Bonds		Non-Agency Mortgage-Backed Securities			Other Interests			Preferred Securities			Warrants		Total
Assets/Liabilities:
Balance, as of August 31, 2010	$	5,104,409		$	11,492		$	3,029,472	$	2,310,902		$	381		$	56,838			—	$	10,513,494
Accrued discounts/ premiums		(153,747	)		—			3,365		561			—			—			—		(149,821	)
Net realized gain (loss)		(743,053	)		(294,917	)		—		23,583			—			113,247			—		(901,140	)
Net change in unrealized appreciation/depreciation²		1,635,416			313,883			44,995		6,238			(190	)		90,741		$	114,903		2,205,986
Purchases		4,919,802			1,591			48,320		3,770,493			—			—			1		8,740,207
Sales		(2,044,463	)		(32,048	)		—		(1,776,458	)		—			(158,546	)		—		(4,011,515	)
Transfers in³		—			—			—		—			—			—			—		—
Transfers out³		(3,207,240	)		—			—		(695,901	)		—			—			—		(3,903,141	)
Balance, as of May 31, 2011	$	5,511,124		$	1		$	3,126,152	$	3,639,418		$	191		$	102,280		$	114,904	$	12,494,070


² The net change in unrealized appreciation/depreciation on the securities still held at May 31, 2011 was $(1,691,874).

³ The Trust’s policy is to recognize transfers in and transfers out as of the beginning of the period of the event or the change in circumstances that caused the transfer.

A reconciliation of Level 3 investments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets.


	BLACKROCK CORE BOND TRUST	MAY 31, 2011	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/ John M. Perlowski
		John M. Perlowski
		Chief Executive Officer (principal executive officer) of
		BlackRock Core Bond Trust

	Date: July 26, 2011

	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
		BlackRock Core Bond Trust

	Date: July 26, 2011

	By:	/s/ Neal J. Andrews
		Neal J. Andrews
		Chief Financial Officer (principal financial officer) of
		BlackRock Core Bond Trust

	Date: July 26, 2011