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 811-21493

Name of Fund: BlackRock Strategic Dividend Achievers TM Trust (BDT)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Strategic Dividend Achievers TM Trust, 40 East 52 nd Street, New York, NY 10022.

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

Date of fiscal year end: 10/31/2009

Date of reporting period: 07/31/2009


 

 

Item 1 – Schedule of Investments


 

 

Schedule of Investments July 31, 2009 (Unaudited)

BlackRock Strategic Dividend Achievers™ Trust (BDT)

 

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Common Stocks

 

Shares

 

Value

 

Automotive—2.1%

 

 

 

 

 

 

 

Genuine Parts Co.

 

 

149,254

 

$

5,286,577

 

Basic Materials—4.5%

 

 

 

 

 

 

 

RPM International, Inc.

 

 

168,300

 

 

2,686,068

 

Sonoca Products Co.

 

 

107,700

 

 

2,851,896

 

Stepan Co.

 

 

28,539

 

 

1,277,976

 

Vulcan Materials Co.

 

 

97,600

 

 

4,634,048

 

 

 

 

 

 

 

 

 

 

 

 

 

11,449,988

 

Building & Development—3.7%

 

 

 

 

 

 

 

ABM Industries, Inc.

 

 

143,530

 

 

3,024,177

 

Masco Corp.

 

 

465,170

 

 

6,479,818

 

 

 

 

 

 

 

 

 

 

 

 

 

9,503,995

 

Communications—0.9%

 

 

 

 

 

 

 

Harte-Hanks, Inc.

 

 

105,912

 

 

1,145,968

 

Meredith Corp.

 

 

45,793

 

 

1,212,141

 

 

 

 

 

 

 

 

 

 

 

 

 

2,358,109

 

Consumer Products—19.6%

 

 

 

 

 

 

 

Avery Denninson Corp.

 

 

173,241

 

 

4,630,732

 

Fastenal Co.

 

 

138,992

 

 

4,943,945

 

Fortune Brands, Inc.

 

 

60,689

 

 

2,401,464

 

H&R Block, Inc.

 

 

326,821

 

 

5,454,642

 

Hormel Foods Corp.

 

 

148,344

 

 

5,327,033

 

J.M. Smuckers Co.

 

 

120,405

 

 

6,023,862

 

Lancaster Colony Corp.

 

 

49,800

 

 

2,267,892

 

Meridian Bioscience, Inc.

 

 

67,681

 

 

1,490,336

 

Nordstrom, Inc.

 

 

210,826

 

 

5,574,239

 

Polaris Industries, Inc.

 

 

76,800

 

 

2,908,416

 

SUPERVALU, Inc.

 

 

327,700

 

 

4,859,791

 

Universal Corp.

 

 

38,208

 

 

1,454,579

 

Vector Group Ltd.

 

 

184,589

 

 

2,742,993

 

 

 

 

 

 

 

 

 

 

 

 

 

50,079,924

 

Energy—12.1%

 

 

 

 

 

 

 

American States Water Co.

 

 

34,125

 

 

1,240,444

 

Black Hills Corp.

 

 

60,400

 

 

1,571,004

 

California Water Service Group

 

 

27,259

 

 

1,032,298

 

Helmerich & Payne, Inc.

 

 

74,540

 

 

2,561,194

 

Integrys Energy Group, Inc.

 

 

83,500

 

 

2,820,630

 

MDU Resources Group, Inc.

 

 

142,500

 

 

2,868,525

 

MGE Energy, Inc.

 

 

31,571

 

 

1,132,452

 

National Fuel Gas Co.

 

 

75,400

 

 

3,059,732

 

New Jersey Resources Corp.

 

 

76,559

 

 

2,955,177

 

Northwest Natural Gas Co.

 

 

59,121

 

 

2,639,162

 

Otter Tail Corp.

 

 

60,461

 

 

1,409,346

 

Peidmont Natural Gas Co.

 

 

103,412

 

 

2,546,003

 

UGI Corp.

 

 

108,422

 

 

2,866,678

 

WGL Holdings, Inc.

 

 

65,785

 

 

2,178,799

 

 

 

 

 

 

 

 

 

 

 

 

 

30,881,444

 

Financial Institutions—24.0%

 

 

 

 

 

 

 

Arthur J. Gallagher & Co.

 

 

113,000

 

 

2,587,700

 

Bancfirst Corp.

 

 

29,499

 

 

1,056,949

 

BancorpSouth, Inc.

 

 

127,854

 

 

2,876,715

 

Bank of Hawaii Corp.

 

 

64,500

 

 

2,474,865

 

Bank of the Ozarks, Inc.

 

 

49,259

 

 

1,245,268

 

Chemical Financial Corp.

 

 

57,945

 

 

1,259,145

 

Cincinnati Financial Corp.

 

 

190,842

 

 

4,608,834

 

Community Bank System, Inc.

 

 

74,600

 

 

1,352,498

 

Community Trust Bancorp, Inc.

 

 

43,115

 

 

1,170,572

 

Cullen/Frost Bankers, Inc.

 

 

97,938

 

 

4,703,962

 

Eaton Vance Corp.

 

 

178,224

 

 

5,100,771

 

Erie Indemnity Co. Class A

 

 

72,976

 

 

2,732,951

 

Federated Investors, Inc.

 

 

107,446

 

 

2,786,075

 

First Niagara Financial Group, Inc.

 

 

190,915

 

 

2,510,532

 

Harleysville Group, Inc.

 

 

50,000

 

 

1,551,000

 

Iberiabank Corp.

 

 

25,985

 

 

1,217,137

 

M&T Bank Corp.

 

 

87,955

 

 

5,129,536

 

Mercury General Corp.

 

 

73,600

 

 

2,581,152

 

Old Republic International Corp.

 

 

244,320

 

 

2,526,269

 

Park National Corp.

 

 

36,934

 

 

2,354,543

 

S&T Bancorp, Inc.

 

 

59,800

 

 

819,858

 

Sterling Bancshares, Inc.

 

 

176,778

 

 

1,426,598

 

 

 

 

 

 

 

 

 

Common Stocks

 

Shares

 

Value

 

Financial Institutions— (concluded)

 

 

 

 

 

 

 

Trustmark Corp.

 

 

112,308

 

$

2,234,929

 

United Bankshares, Inc.

 

 

90,625

 

 

1,836,063

 

Valley National Bancorp

 

 

166,081

 

 

2,112,550

 

WesBanco, Inc.

 

 

68,400

 

 

1,140,228

 

 

 

 

 

 

 

 

 

 

 

 

 

61,396,700

 

Health Care—2.0%

 

 

 

 

 

 

 

Beckman Coulter, Inc.

 

 

45,491

 

 

2,865,478

 

Mine Safety Appliances Co.

 

 

76,500

 

 

2,148,885

 

 

 

 

 

 

 

 

 

 

 

 

 

5,014,363

 

Industrials—10.1%

 

 

 

 

 

 

 

AO Smith Corp.

 

 

40,014

 

 

1,562,147

 

Bemis Co., Inc.

 

 

97,162

 

 

2,557,304

 

Dover Corp.

 

 

151,075

 

 

5,138,061

 

Leggett & Platt, Inc.

 

 

137,346

 

 

2,382,953

 

McGrath RentCorp

 

 

60,461

 

 

1,162,060

 

Myers Industries, Inc.

 

 

124,548

 

 

1,225,552

 

NACCO Industries, Inc.

 

 

27,226

 

 

1,145,942

 

Raven Industries, Inc.

 

 

49,981

 

 

1,434,455

 

Stanley Works (The)

 

 

129,248

 

 

5,189,307

 

Teleflex, Inc.

 

 

56,204

 

 

2,695,544

 

Tennant Co.

 

 

59,202

 

 

1,298,892

 

 

 

 

 

 

 

 

 

 

 

 

 

25,792,217

 

Media—0.6%

 

 

 

 

 

 

 

Gannet Co., Inc.

 

 

234,273

 

 

1,639,911

 

Real Estate—0.4%

 

 

 

 

 

 

 

W.P. Carey & Co. LLC

 

 

38,148

 

 

1,035,718

 

Real Estate Investment Trust—9.2%

 

 

 

 

 

 

 

EastGroup Properties, Inc.

 

 

42,300

 

 

1,468,656

 

Getty Realty Corp.

 

 

79,190

 

 

1,773,064

 

HCP, Inc.

 

 

78,863

 

 

2,031,511

 

Home Properties, Inc.

 

 

49,234

 

 

1,757,654

 

Liberty Property Trust

 

 

71,500

 

 

1,985,555

 

National Retail Properties, Inc.

 

 

100,441

 

 

1,979,692

 

Realty Income Corp.

 

 

77,818

 

 

1,834,948

 

Regency Centers Corp.

 

 

47,182

 

 

1,513,599

 

Sovran Self Storage, Inc.

 

 

80,380

 

 

2,163,830

 

UDR, Inc.

 

 

164,452

 

 

1,718,523

 

Universal Health Realty Income Trust

 

 

54,725

 

 

1,869,953

 

Washington Real Estate Investment Trust

 

 

67,900

 

 

1,737,561

 

Weingarten Realty Investors

 

 

105,432

 

 

1,626,816

 

 

 

 

 

 

 

 

 

 

 

 

 

23,461,362

 

Technology—6.2%

 

 

 

 

 

 

 

Brady Corp.

 

 

92,891

 

 

2,731,924

 

Diebold, Inc.

 

 

93,430

 

 

2,589,880

 

Linear Technology Corp. (a)

 

 

220,100

 

 

5,914,087

 

Pitney Bowes, Inc.

 

 

223,075

 

 

4,606,499

 

 

 

 

 

 

 

 

 

 

 

 

 

15,842,390

 

Telecommunications—1.0%

 

 

 

 

 

 

 

CenturyTel, Inc.

 

 

83,400

 

 

2,617,926

 

Utilities—2.1%

 

 

 

 

 

 

 

Atmos Energy Corp.

 

 

96,962

 

 

2,633,488

 

Vectren Corp.

 

 

113,850

 

 

2,796,156

 

 

 

 

 

 

 

 

 

 

 

 

 

5,429,644

 

Total Long-Term Investments
(Cost—$281,046,893)—98.5%

 

 

 

 

 

251,790,268

 

Short-Term Securities

 

 

 

 

 

 

 

BlackRock Liquidity Funds, TempFund,
0.29% (b)(c)

 

 

3,752,271

 

 

3,752,271

 

Total Short-Term Securities
(Cost—$3,752,271)—1.5%

 

 

 

 

 

3,752,271

 

Total Investments Before Outstanding Options Written
(Cost—$284,799,164*)—100.0%

 

 

 

 

 

255,542,539

 



 

 

 

 

 

 

 

 

1

 

JULY 31, 2009

 



 

 

Schedule of Investments (continued)

BlackRock Strategic Dividend Achievers™ Trust (BDT)

 

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Options Written

 

Contracts

 

Value

 

Exchange-Traded Call Options Written—(0.7)%

 

 

 

 

 

 

 

ABM Industries, Inc., Strike Price $17.50,
Expires 8/24/09

 

 

(130

)

$

(46,800

)

ABM Industries, Inc., Strike Price $20,
Expires 9/21/09

 

 

(145

)

 

(26,463

)

Arthur J. Gallagher & Co., Strike Price
$22.50, Expires 8/24/09

 

 

(220

)

 

(19,250

)

Avery Denninson Corp., Strike Price $30,
Expires 9/21/09

 

 

(340

)

 

(8,500

)

BancorpSouth, Inc., Strike Price $20,
Expires 8/24/09

 

 

(254

)

 

(64,135

)

Bank of Hawaii Corp., Strike Price $35,
Expires 9/21/09

 

 

(130

)

 

(48,750

)

Bank of the Ozarks, Inc., Strike Price $25,
Expires 8/24/09

 

 

(100

)

 

(10,000

)

Beckman Coulter, Inc., Strike Price $60,
Expires 8/24/09

 

 

(90

)

 

(32,400

)

Chemical Financial Corp., Strike Price
$22.50, Expires 9/21/09

 

 

(120

)

 

(9,900

)

Cincinnati Financial Corp., Strike Price
$25, Expires 9/21/09

 

 

(380

)

 

(22,800

)

Cullen/Frost Bankers, Inc., Strike Price
$50, Expires 8/24/09

 

 

(200

)

 

(10,000

)

Dover Corp., Strike Price $35, Expires
9/21/09

 

 

(300

)

 

(30,750

)

EastGroup Properties, Inc., Strike Price
$40, Expires 9/21/09

 

 

(2

)

 

(100

)

First Niagara Financial Group, Inc., Strike
Price $12.50, Expires 9/21/09

 

 

(380

)

 

(41,800

)

Gannet Co., Inc., Strike Price $5, Expires
8/24/09

 

 

(465

)

 

(95,325

)

Genuine Parts Co., Strike Price $35,
Expires 8/24/09

 

 

(300

)

 

(30,000

)

HCP, Inc., Strike Price $25, Expires
9/21/09

 

 

(155

)

 

(25,575

)

Helmerich & Payne, Inc., Strike Price $35,
Expires 9/21/09

 

 

(150

)

 

(29,250

)

Iberiabank Corp., Strike Price $45, Expires
8/24/09

 

 

(50

)

 

(12,000

)

Integrys Energy Group, Inc., Strike Price
$35, Expires 9/21/09

 

 

(170

)

 

(12,750

)

Liberty Property Trust, Strike Price $25,
Expires 8/24/09

 

 

(140

)

 

(42,000

)

M&T Bank Corp., Strike Price $60, Expires
8/24/09

 

 

(175

)

 

(22,312

)

Masco Corp., Strike Price $10, Expires
8/24/09

 

 

(330

)

 

(130,350

)

Masco Corp., Strike Price $10, Expires
9/21/09

 

 

(600

)

 

(243,000

)

Mercury General Corp., Strike Price $35,
Expires 9/21/09

 

 

(150

)

 

(21,375

)

Meredith Corp., Strike Price $30, Expires
8/24/09

 

 

(90

)

 

(2,250

)

Meridian Bioscience, Inc., Strike Price
$22.50, Expires 8/24/09

 

 

(135

)

 

(7,762

)

Mine Safety Appliances Co., Strike Price
$25, Expires 8/24/09

 

 

(150

)

 

(56,250

)

National Fuel Gas Co., Strike Price $45,
Expires 10/19/09

 

 

(27

)

 

(1,552

)

New Jersey Resources Corp., Strike Price
$40, Expires 9/21/09

 

 

(26

)

 

(2,015

)

Nordstrom, Inc., Strike Price $22, Expires
8/24/09

 

 

(215

)

 

(101,050

)

Nordstrom, Inc., Strike Price $23, Expires
8/24/09

 

 

(210

)

 

(81,900

)

Old Republic International Corp., Strike
Price $10, Expires 9/21/09

 

 

(500

)

 

(32,500

)

Otter Tail Corp., Strike Price $22.50,
Expires 8/24/09

 

 

(120

)

 

(15,300

)

Peidmont Natural Gas Co., Strike Price
$25, Expires 8/24/09

 

 

(100

)

 

(4,250

)

 

 

 

 

 

 

 

 

Options Written

 

Contracts

 

Value

 

Exchange-Traded Call Options Written— (concluded)

 

 

 

 

 

 

 

Peidmont Natural Gas Co., Strike Price
$25, Expires 9/21/09

 

 

(100

)

$

(7,500

)

Pitney Bowes, Inc., Strike Price $22.50,
Expires 8/24/09

 

 

(200

)

 

(1,500

)

Pitney Bowes, Inc., Strike Price $25,
Expires 10/19/09

 

 

(50

)

 

(750

)

Regency Centers Corp., Strike Price $30,
Expires 9/21/09

 

 

(95

)

 

(29,213

)

S&T Bancorp, Inc., Strike Price $15,
Expires 9/21/09

 

 

(120

)

 

(9,000

)

Sonoca Products Co., Strike Price $25,
Expires 8/24/09

 

 

(215

)

 

(38,163

)

Stanley Works (The), Strike Price $35,
Expires 8/24/09

 

 

(26

)

 

(12,870

)

Sterling Bancshares, Inc., Strike Price
$7.50, Expires 9/21/09

 

 

(350

)

 

(33,250

)

SUPERVALU, Inc., Strike Price $15, Expires
9/21/09

 

 

(650

)

 

(42,250

)

Teleflex, Inc., Strike Price $45, Expires
8/24/09

 

 

(108

)

 

(37,260

)

Trustmark Corp., Strike Price $22.50,
Expires 8/24/09

 

 

(150

)

 

(3,750

)

United Bankshares, Inc., Strike Price
$22.50, Expires 8/24/09

 

 

(100

)

 

(44,000

)

Universal Corp., Strike Price $40, Expires
8/24/09

 

 

(76

)

 

(7,980

)

Vector Group Ltd., Strike Price $15, Expires
9/21/09

 

 

(370

)

 

(16,650

)

Vulcan Materials Co., Strike Price $45,
Expires 8/24/09

 

 

(195

)

 

(68,250

)

Weingarten Realty Investors, Strike Price
$15, Expires 9/21/09

 

 

(60

)

 

(6,600

)

Total Exchange-Traded Call Options Written

 

 

 

 

 

(1,699,400

)

Over-the-Counter Call Options Written—(0.4)%

 

 

 

 

 

 

 

American States Water. Co., Strike Price
$36.26, Expires 9/14/09, Broker
Morgan Stanley & Co., Inc.

 

 

(6,800

)

 

(10,841

)

AO Smith Corp., Strike Price $35.24,
Expires 8/28/09, Broker Citigroup
Global Markets

 

 

(8,000

)

 

(36,380

)

Atmos Energy Corp., Strike Price $26.51,
Expires 9/25/09, Broker Credit Suisse
First Boston

 

 

(19,400

)

 

(19,571

)

Bancfirst Corp., Strike Price $43.98,
Expires 8/04/09, Broker Goldman Sachs
& Co.

 

 

(6,000

)

 

(3

)

Bemis Co., Inc., Strike Price $27.24,
Expires 8/28/09, Broker Morgan Stanley
& Co., Inc.

 

 

(19,500

)

 

(7,436

)

Black Hills Corp., Strike Price $26.89,
Expires 9/25/09, Broker Citigroup
Global Markets

 

 

(12,000

)

 

(6,190

)

CenturyTel, Inc., Strike Price $33, Expires
8/25/09, Broker Morgan Stanley & Co.,
Inc.

 

 

(16,500

)

 

(5,317

)

Community Bank System, Inc., Strike Price
$18.28, Expires 10/02/09, Broker
Citigroup Global Markets

 

 

(15,000

)

 

(9,555

)

Diebold, Inc., Strike Price $26.75, Expires
8/27/09, Broker Goldman Sachs & Co.

 

 

(19,000

)

 

(35,150

)

EastGroup Properties, Inc., Strike Price
$38.53, Expires 9/14/09, Broker Credit
Suisse First Boston

 

 

(8,200

)

 

(3,130

)

Eaton Vance Corp., Strike Price $28.25,
Expires 8/25/09, Broker Jefferies & Co., Inc.

 

 

(350

)

 

(44,190

)



 

 

 

 

 

 

 

 

 

 

JULY 31, 2009

2



 

 

Schedule of Investments (continued)

BlackRock Strategic Dividend Achievers™ Trust (BDT)

 

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Options Written

 

Contracts

 

Value

 

Over-the-Counter Call Options Written— (continued)

 

 

 

 

 

 

 

Erie Indemnity Co. Class A, Strike Price
$37.92, Expires 8/05/09, Broker
Citigroup Global Markets

 

 

(8,000

)

$

(2,888

)

Erie Indemnity Co. Class A, Strike Price
$38.50, Expires 8/04/09, Broker
Citigroup Global Markets

 

 

(6,000

)

 

(1,073

)

Fastnel Co., Strike Price $36.50, Expires
8/27/09, Broker Morgan Stanley & Co.,
Inc.

 

 

(28,000

)

 

(25,788

)

Federated Investors, Inc., Strike Price
$26.43, Expires 8/21/09, Broker
Morgan Stanley & Co., Inc.

 

 

(21,000

)

 

(9,158

)

Fortune Brands, Inc., Strike Price $37.76,
Expires 8/28/09, Broker Goldman Sachs
& Co.

 

 

(12,000

)

 

(25,063

)

H&R Block, Inc., Strike Price $16.89,
Expires 8/17/09, Broker Citigroup Global
Markets

 

 

(65,000

)

 

(19,386

)

Harleysville Group, Inc., Strike Price
$30.59, Expires 9/14/09, Broker Credit
Suisse First Boston

 

 

(10,000

)

 

(19,700

)

Home Properties, Inc., Strike Price $37.50,
Expires 8/05/09, Broker Goldman Sachs
& Co.

 

 

(10,000

)

 

(523

)

Hormel Foods Corp., Strike Price $33.84,
Expires 8/05/09, Broker Citigroup
Global Markets

 

 

(32,000

)

 

(74,880

)

J.M. Smuckers Co., Strike Price $50.36,
Expires 8/31/09, Broker Morgan Stanley
& Co., Inc.

 

 

(24,000

)

 

(41,114

)

Linear Technology Corp., Strike Price
$25.50, Expires 8/21/09, Broker
Morgan Stanley & Co., Inc.

 

 

(44,000

)

 

(67,320

)

McGrath Rentcorp, Strike Price $19.89,
Expires 9/25/09, Broker Morgan Stanley
& Co., Inc.

 

 

(12,000

)

 

(21,120

)

MDU Resources Group, Inc., Strike Price
$21.27, Expires 9/25/09, Broker
Citigroup Global Markets

 

 

(28,500

)

 

(11,941

)

National Fuel Gas Co., Strike Price $40.61,
Expires 8/21/09, Broker Morgan Stanley
& Co., Inc.

 

 

(12,300

)

 

(11,561

)

National Retail Properties, Inc., Strike
Price $17.60, Expires 8/21/09, Broker
Credit Suisse First Boston

 

 

(20,000

)

 

(42,354

)

New Jersey Resources Corp., Strike Price
$41.51, Expires 9/25/09, Broker
Citigroup Global Markets

 

 

(12,700

)

 

(7,373

)

Northwest Natural Gas Co., Strike Price
$47.25, Expires 8/28/09, Broker
Morgan Stanley & Co., Inc.

 

 

(11,800

)

 

(4,789

)

Park National Corp., Strike Price $70,
Expires 8/04/09, Broker Goldman Sachs
& Co.

 

 

(5,000

)

 

(246

)

Park National Corp., Strike Price $76.54,
Expires 8/04/09, Broker Goldman Sachs
& Co.

 

 

(2,000

)

 

—

 

Pitney Bowes, Inc., Strike Price $22.50,
Expires 9/18/09, Broker Morgan Stanley
& Co., Inc.

 

 

(20,000

)

 

(3,648

)

Polaris Industries, Inc., Strike Price $31,
Expires 8/25/09, Broker Jefferies & Co.,
Inc.

 

 

(150

)

 

(111,000

)

Realty Income Corp., Strike Price $23.50,
Expires 9/18/09, Broker Citigroup
Global Markets

 

 

(15,500

)

 

(13,980

)

 

 

 

 

 

 

 

 

Options Written

 

Contracts

 

Value

 

Over-the-Counter Call Options Written— (concluded)

 

 

 

 

 

 

 

RPM International, Inc., Strike Price
$15.50, Expires 9/24/09, Broker
Citigroup Global Markets

 

 

(33,000

)

$

(23,011

)

Sovran Self Storage, Inc., Strike Price
$25.16, Expires 8/05/09, Broker
Citigroup Global Markets

 

 

(16,000

)

 

(28,329

)

Stanley Works (The), Strike Price $37.30,
Expires 8/21/09, Broker JPMorgan
Chase Securities

 

 

(23,000

)

 

(66,906

)

Stepan Co., Strike Price $47, Expires
9/24/09, Broker Goldman Sachs & Co.

 

 

(5,000

)

 

(14,650

)

UDR, Inc., Strike Price $11, Expires
8/12/09, Broker Jefferies & Co., Inc.

 

 

(260

)

 

(2,715

)

UGI Corp., Strike Price $25.18, Expires
8/05/09, Broker Goldman Sachs & Co.

 

 

(21,500

)

 

(32,895

)

Universal Health Realty Income Trust,
Strike Price $34.04, Expires 9/14/09,
Broker Credit Suisse First Boston

 

 

(11,000

)

 

(20,460

)

Valley National Bancorp, Strike Price
$13.49, Expires 9/28/09, Broker
Citigroup Global Markets

 

 

(33,200

)

 

(3,386

)

Vectren Corp., Strike Price $24.31, Expires
8/04/09, Broker UBS Securities LLC

 

 

(22,500

)

 

(8,167

)

W.P. Carey & Co. LLC, Strike Price $28.24,
Expires 9/14/09, Broker Goldman Sachs
& Co.

 

 

(7,000

)

 

(4,808

)

Washington Real Estate Investment Trust,
Strike Price $26.27, Expires 9/14/09,
Broker Morgan Stanley & Co., Inc.

 

 

(13,500

)

 

(7,965

)

Weingarten Realty Investors, Strike Price
$16.23, Expires 9/14/09, Broker
Morgan Stanley & Co., Inc.

 

 

(15,000

)

 

(7,600

)

Total Over-the-Counter Call Options Written

 

 

 

 

 

(913,560

)

Total Options Written
(Premiums Received $1,474,615)—(1.1)%

 

 

 

 

 

(2,612,960

)

Total Investments Net of Outstanding Options Written—98.9%

 

 

 

 

 

252,929,579

 

Other Assets in Excess of Liabilities—1.1%

 

 

 

 

 

2,833,932

 

 

 

 

 

 

 

Net Assets—100.0%

 

 

 

 

$

255,763,511

 

 

 

 

 

 

 


 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of July 31, 2009, as computed for federal income tax purposes, were as follows:


 

 

 

 

 

Aggregate cost

 

$

284,194,774

 

 

 

 

Gross unrealized appreciation

 

$

16,197,645

 

Gross unrealized depreciation

 

 

(44,849,880

)

 

 

 

Net unrealized depreciation

 

$

(28,652,235

)

 

 

 


 

 

(a)

Security, or a portion thereof, pledged as collateral for outstanding options written.

 

 

(b)

Represents current yield as of report date.

 

 

(c)

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


 

 

 

 

 

 

 

 

Affiliate

 

Net Activity

 

Income

 

BlackRock Liquidity Funds, TempFund

 

3,752,271

 

$

40,178

 


 

 

•

For Trust compliance purposes, the Trust’s industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease.



 

 

 

 

 

 

 

 

3

 

JULY 31, 2009

 



 

 

Schedule of Investments (continued)

BlackRock Strategic Dividend Achievers™ Trust (BDT)
(Percentages shown are based on Net Assets)


 

 

•

Effective November 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows:


 

 

 

 

•

Level 1 — price quotations in active markets/exchanges for identical securities

 

 

 

 

•

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market- corroborated inputs)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available In the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments)

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

The following table summarizes the inputs used as of July 31, 2009 in determining the fair valuation of the Trust’s investments:

 

 

 

 

 

Valuation Inputs

 

Investments in
Securities

 

 

 

Assets

 

 

 

 

Level 1:

 

 

 

 

Long-Term Investments 1

 

$

251,790,268

 

Short-Term Securities

 

 

3,752,271

 

Total Level 1

 

 

255,542,539

 

Level 2

 

 

—

 

Level 3

 

 

—

 

Total

 

$

255,542,539

 

 

 

 


 

 

1

See above Schedule of Investments for values in each industry.


 

 

 

 

 

Valuation Inputs

 

Other Financial
Instruments 2

 

 

 

Liabilities

 

 

 

 

Level 1

 

$

(1,699,400

)

Level 2

 

 

(913,560

)

Level 3

 

 

—

 

Total

 

$

(2,612,960

)

 

 

 


 

 

2

Other financial instruments are options written and are shown at market value.



 

 

 

 

 

 

 

 

 

 

 

   JULY 31, 2009

4



 

 

Item 2 – Controls and Procedures


 

 

2(a) –

The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(b) –

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

 

Item 3 – Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

BlackRock Strategic Dividend Achievers TM Trust


 

 

 

 

 

By:

/s/ Anne F. Ackerley

 

 

 

Anne F. Ackerley

 

 

Chief Executive Officer of

 

 

BlackRock Strategic Dividend Achievers TM Trust

 

 

 

 

Date: September 22, 2009

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

 

 

By:

/s/ Anne F. Ackerley

 

 

 

Anne F. Ackerley

 

 

Chief Executive Officer (principal executive officer) of
BlackRock Strategic Dividend Achievers TM Trust

 

 

 

 

Date: September 22, 2009

 

 

 

 

By:

/s/ Neal J. Andrews

 

 

 

Neal J. Andrews

 

 

Chief Financial Officer (principal financial officer) of
BlackRock Strategic Dividend Achievers TM Trust

 

 

 

 

Date: September 22, 2009


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