c50345_nq.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21349

Name of Fund: BlackRock Limited Duration Income Trust

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Robert S. Kapito, President, BlackRock Limited Duration Income
      Trust, 40 East 52nd Street, New York, NY 10022.

Registrant’s telephone number, including area code: (888) 825-2257

Date of fiscal year end: 10/31/2007

Date of reporting period: 05/01/2007 – 07/31/2007

Item 1 – Schedule of Investments

PORTFOLIO OF INVESTMENTS (unaudited)
JULY 31, 2007
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)

Principal
       
Amount
       
(000) 
 
Description 
Value 
        LONG-TERM INVESTMENTS—139.1%     
        Corporate Bonds—52.9%     
        Aerospace & Defense—1.4%     
$  1,560     AAR Corp., Ser. A2, 8.39%, 5/15/11  $ 1,575,600 
  745 1   Bombardier, Inc., 8.00%, 11/15/14 (Canada)    737,550 
  5,236     DI Finance/DynCorp Intl., Ser. B, 9.50%, 2/15/13    5,340,720 
        DRS Technologies, Inc.,     
  330        6.875%, 11/01/13    316,800 
  310        7.625%, 2/01/18    297,600 
  755     Sequa Corp., 9.00%, 8/01/09    785,200 
  570 1   TransDigm, Inc., 7.75%, 7/15/14    558,600 
        Total Aerospace & Defense   9,612,070 
        Automotive—2.3%     
  850     Accuride Corp., 8.50%, 2/01/15    807,500 
        AutoNation, Inc.,     
  690        7.00%, 4/15/14    645,150 
  690 2      7.36%, 4/15/13    641,700 
  7,500 3   DaimlerChrysler NA Holding Corp., 4.05%, 6/04/08    7,391,587 
  500     Ford Capital BV, 9.50%, 6/01/10 (Netherlands)    490,000 
  1,575     Lear Corp., Ser. B, 8.75%, 12/01/16    1,456,875 
  1,000 3   Metaldyne Corp., 11.00%, 11/01/13    980,000 
  3,500     Sonic Automotive, Inc., Ser. B, 8.625%, 8/15/13    3,473,750 
        Total Automotive    15,886,562 
        Basic Materials—4.4%     
  1,480     Abitibi-Consolidated, Inc., 6.00%, 6/20/13 (Canada)    1,169,200 
  2,200     AK Steel Corp., 7.75%, 6/15/12    2,178,000 
  1,100 1   American Pacific Corp., 9.00%, 2/01/15    1,089,000 
  670 2   Bowater, Inc., 8.36%, 3/15/10    633,150 
  120     Chemtura Corp., 6.875%, 6/01/16    110,700 
  750     CPG Intl. I, Inc., 10.50%, 7/01/13    727,500 
        Domtar, Inc. (Canada)     
  300        7.125%, 8/15/15    279,750 
  140        7.875%, 10/15/11    137,550 
        Freeport-McMoRan Copper & Gold, Inc.,     
  4,585 3      8.375%, 4/01/17    4,814,250 
  750 2      8.564%, 4/01/15    772,500 
        Huntsman LLC,     
  1,950 3      11.625%, 10/15/10    2,071,875 
  310        12.00%, 7/15/12    341,000 
        Ineos Group Holdings Plc (United Kingdom)     
  1,490        7.875%, 2/07/16 (EUR)    1,781,177 
  2,885 1      8.50%, 2/15/16    2,639,775 
  2,225     Innophos, Inc., 8.875%, 8/15/14    2,236,125 
  980 1   Key Plastics LLC/Key Plastics Finance Corp., 11.75%, 3/15/13    931,000 
        Lyondell Chemical Co.,     
  750        8.00%, 9/15/14    802,500 
  560        10.50%, 6/01/13    604,800 
        NewPage Corp.,     
  810        10.00%, 5/01/12    826,200 
  1,500 2,3      11.606%, 5/01/12    1,605,000 
  300        12.00%, 5/01/13    312,375 
  2,690 2   Nova Chemicals Corp., 8.484%, 11/15/13 (Canada)    2,622,750 
  730     Terra Capital, Inc., Ser. B, 7.00%, 2/01/17    689,850 
  60 1   Verso Paper Holdings LLC/Verson Paper, Inc., 11.375%, 8/01/16    61,200 
        Total Basic Materials   29,437,227 
        Building & Development—0.9%     
  3,000 3   DR Horton, Inc., 5.875%, 7/01/13    2,749,572 
        Goodman Global Holding Co., Inc.,     
  2,000        7.875%, 12/15/12    2,000,000 
  269 2      8.36%, 6/15/12    266,310 
  890     Nortek, Inc., 8.50%, 9/01/14    765,400 
  270     North American Energy Partners, Inc., 8.75%, 12/01/11 (Canada)    271,350 
       
Total Building & Development 
   6,052,632 
        Commercial Services—0.2%     
  350     FTI Consulting, Inc., 7.75%, 10/01/16    343,000 
  875 1   Quebecor World, Inc., 9.75%, 1/15/15 (Canada)    840,000 
        Total Commercial Services   1,183,000 
        Consumer Products—5.5%     
  2,085 2   Ames True Temper, Inc., 9.36%, 1/15/12    2,064,150 
  130 2   Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 7.86%, 5/15/14    124,800 
  1,3901     Dollar General Corp., 10.625%, 7/15/15    1,230,150 
        General Nutrition Centers, Inc.,     
  2,250 1      9.796%, 3/15/14    2,092,500 
  1,880 1      10.75%, 3/15/15    1,776,600 
  5,000 3   Group 1 Automotive, Inc., 8.25%, 8/15/13    5,025,000 
  4,400 3   JC Penney Co., Inc., 8.00%, 3/01/10    4,649,916 
  1,505     Lazy Days RV Center, Inc., 11.75%, 5/15/12    1,459,850 
        Michaels Stores, Inc.,     
  2,210 1      10.00%, 11/01/14    2,143,700 
  2,800 1,3      11.375%, 11/01/16    2,702,000 
  73     Neiman-Marcus Group, Inc., 9.00%, 10/15/15    76,103 
  600     Quiksilver, Inc., 6.875%, 4/15/15    531,000 
  1,000 3   Reynolds American, Inc., 7.625%, 6/01/16    1,032,266 
        Rite Aid Corp.,     
  3,320 3      7.50%, 3/01/17    3,046,100 
  5,000 3      8.125%, 5/01/10    4,975,000 
  1,790 1,3   Sally Holdings LLC, 10.50%, 11/15/16    1,691,550 
  2,175     United Rentals NA, Inc., 7.00%, 2/15/14    2,213,062 
        Total Consumer Products   36,833,747 
        Containers & Packaging—1.0%     
        Berry Plastics Holding Corp.,     
  1,210        8.875%, 9/15/14    1,161,600 
  835 2      9.235%, 9/15/14    801,600 
  885     Crown Americas LLC/Crown Americas Capital Corp., 7.75%, 11/15/15    871,725 
  585     Graham Packaging Co., Inc., 8.50%, 10/15/12    546,975 
  1,370 1,2   Impress Holdings BV, 8.485%, 9/15/13 (Netherlands)    1,370,000 
  2,020     Pregis Corp., 12.375%, 10/15/13    2,242,200 
        Total Containers & Packaging   6,994,100 
        Ecological Services & Equipment—0.6%     
  2,000     Casella Waste Systems, Inc., 9.75%, 2/01/13    2,020,000 
  2,065     Waste Services, Inc., 9.50%, 4/15/14    2,095,975 
        Total Ecological Services & Equipment   4,115,975 
        Energy—5.1%     
  5,500 1,3   AES Corp., 8.75%, 5/15/13 
 
5,788,750 
  550     Berry Petroleum Co., 8.25%, 11/01/16 
 
530,750 
  1,210     Chaparral Energy, Inc., 8.50%, 12/01/15    1,085,975 
        Chesapeake Energy Corp.,     
  650        6.375%, 6/15/15    610,187 
  100        6.875%, 11/15/20    93,125 
  4,000 3      7.50%, 9/15/13    4,025,000 
        Compagnie Generale de Geophysique-Veritas (France)     
  255        7.50%, 5/15/15    248,625 
  420        7.75%, 5/15/17    409,500 
  925     Compton Petroleum Finance Corp., 7.625%, 12/01/13 (Canada)    864,875 

1

BlackRock Limited Duration Income Trust (BLW) (continued)
(Percentages shown are based on Net Assets)


Principal
       
Amount
       
(000) 
 
Description 
Value 
        Energy—(cont’d)     
$
1,640     East Cameron Gas Co., 11.25%, 7/09/19 (Cayman Islands) 
$
1,574,400 
  590     Edison Mission Energy, 7.50%, 6/15/13    569,350 
  400     El Paso Natural Gas Co., 8.875%, 6/15/32    462,952 
  159     Elwood Energy LLC, 8.159%, 7/05/26    159,848 
        Encore Acquisition Co.,     
  250        6.00%, 7/15/15    215,000 
  200        7.25%, 12/01/17    180,000 
  495     Exco Resources, Inc., 7.25%, 1/15/11    491,288 
  380 3   Grant Prideco, Inc., Ser. B, 6.125%, 8/15/15    353,400 
  895     KCS Energy, Inc., 7.125%, 4/01/12    877,100 
  4,324 3   Midwest Generation LLC, Ser. B, 8.56%, 1/02/16    4,464,804 
  625     Mirant Americas Generation LLC, 8.30%, 5/01/11    612,500 
        NRG Energy, Inc.,     
  210        7.25%, 2/01/14    202,650 
  1,185        7.375%, 2/01/16    1,143,525 
  1,990 1,3   OPTI, Inc., 8.25%, 12/15/14 (Canada)    1,990,000 
  580     Orion Power Holdings, Inc., 12.00%, 5/01/10    629,300 
  1,515 1   Sabine Pass LNG LP, 7.50%, 11/30/16    1,439,250 
  1,240 1   SemGroup LP, 8.75%, 11/15/15    1,221,400 
  1,890 1,2   Stone Energy Corp., 9.11%, 7/15/10    1,885,275 
  725 1   Targa Resources, Inc., 8.50%, 11/01/13    803,783 
  1,550     Whiting Petroleum Corp., 7.25%, 5/01/12-5/01/13    1,450,850 
        Total Energy   34,383,462 
        Entertainment & Leisure—0.7%     
  505     AMC Entertainment, Inc., 11.00%, 2/01/16    521,413 
  370     Cinemark, Inc., Zero Coupon, 3/15/14    333,000 
  1,430 1   Greektown Holdings LLC, 10.75%, 12/01/13    1,465,750 
  1,920     Harrah's Operating Co., Inc., 5.75%, 10/01/17    1,363,200 
  1,255     Travelport LLC, 9.875%, 9/01/14    1,273,825 
  100     Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 6.625%, 12/01/14    92,750 
        Total Entertainment & Leisure   5,049,938 
        Financial Institutions—5.8%     
        American Real Estate Partners LP/American Real Estate Finance Corp.,     
  1,480        7.125%, 2/15/13    1,391,200 
  5,860 3      8.125%, 6/01/11    5,625,600 
  790 1,2   BMS Holdings, Inc., 12.40%, 2/15/12    782,100 
        Ford Motor Credit Co. LLC,     
  2,800        7.375%, 2/01/11    2,616,678 
  1,665        7.80%, 6/01/12    1,585,250 
  940 2      8.11%, 1/13/12    897,552 
  60 2      9.81%, 4/15/12    62,064 
  2,735 3   General Motors Acceptance Corp., 6.875%, 8/28/12    2,515,746 
  3,716 1   iPayment Investors LP, 11.625%, 7/15/14    3,716,478 
  950     iPayment, Inc., 9.75%, 5/15/14    907,250 
  900     K&F Acquisition, Inc., 7.75%, 11/15/14    967,500 
  3,430 1   Momentive Performance Materials, Inc., 10.125%, 12/01/14    3,318,525 
        Rainbow National Services LLC,     
  925 1      8.75%, 9/01/12    948,125 
  4,835 1      10.375%, 9/01/14    5,270,150 
  1,025     Standard Aero Holdings, Inc., 8.25%, 9/01/14    1,076,250 
  4,780 4   Structured Asset Receivable Trust, 1.649%, 1/21/10    4,776,764 
  220 2   Universal City Florida Holding Co. I/II, 10.106%, 5/01/10    221,100 
  2,780 1   Wimar Opco LLC/Wimar Opco Finance Corp., 9.625%, 12/15/14    2,335,200 
        Total Financial Institutions   39,013,532 
  3,000     Norcross Safety Products LLC/Norcross Capital Corp., 9.875%, 8/15/11    3,135,000 
  1,805     Tenet Healthcare Corp., 6.50%, 6/01/12    1,507,175 
  2,948 1   Viant Holdings, Inc., 10.125%, 7/15/17    2,771,120 
 

 

    Total Health Care   7,413,295 
        Industrials—1.6%     
  1,700 1   AGY Holding Corp., 11.00%, 11/15/14    1,751,000 
  650     Hexcel Corp., 6.75%, 2/01/15    617,500 
  905     Park-Ohio Industries, Inc., 8.375%, 11/15/14    841,650 
        RBS Global, Inc./Rexnord Corp.,     
  2,000        9.50%, 8/01/14    1,930,000 
  1,430        11.75%, 8/01/16    1,430,000 
  3,125 1   Sunstate Equipment Co. LLC, 10.50%, 4/01/13    3,062,500 
  1,092     Trimas Corp., 9.875%, 6/15/12    1,086,540 
 

 

   

Total Industrials

   10,719,190 
        Media—9.3%     
        Affinion Group, Inc.,     
  1,975        10.125%, 10/15/13    1,984,875 
  850        11.50%, 10/15/15    854,250 
  420     American Media Operations, Inc., Ser. B, 10.25%, 5/01/09    382,200 
  3,500     CBD Media, Inc., 8.625%, 6/01/11    3,491,250 
  1,395     CCH I Holdings LLC/CCH I Holdings Capital Corp., 11.00%, 10/01/15    1,395,000 
  2,425     CMP Susquehanna Corp., 9.875%, 5/15/14    2,255,250 
  800 2   Cablevision Systems Corp., Ser. B, 9.82%, 4/01/09    804,000 
  520     CanWest MediaWorks, Inc., 8.00%, 9/15/12 (Canada)    499,200 
        Charter Communications Holdings II LLC/Charter Communications Holdings II Capital Corp.,     
  2,25         10.25%, 9/15/10    2,294,463 
  865    
   Ser. B, 10.25%, 9/15/10 
  877,975 
  6,685 3   Comcast Cable Communications, Inc., 6.875%, 6/15/09    6,847,392 
  1,650     Dex Media West LLC/Dex Media Finance Co., Ser. B, 9.875%, 8/15/13    1,732,500 
  500     DirecTV Holdings LLC/DirecTV Financing Co., 8.375%, 3/15/13    507,500 
        EchoStar DBS Corp.,     
  2,800        5.75%, 10/01/08    2,779,000 
  1,330        7.00%, 10/01/13    1,276,800 
  200        7.125%, 2/01/16    189,000 
  2,000 1,2   ION Media Networks, Inc., 8.61%, 1/15/12    1,980,000 
  2,525     Idearc, Inc., 8.00%, 11/15/16    2,392,438 
  2,105     Network Communications, Inc., 10.75%, 12/01/13    2,105,000 
  2,790     Nexstar Finance, Inc., 7.00%, 1/15/14    2,706,300 
        Nielsen Finance LLC/Nielsen Finance Co.,     
  1,400 1      Zero Coupon, 8/01/16    917,000 
  4,340 1      10.00%, 8/01/14    4,383,400 
  1,900     Primedia, Inc., 8.00%, 5/15/13    1,997,375 
  3,465     RH Donnelley Corp., Ser. A-3, 8.875%, 1/15/16    3,369,712 
  2,000     Salem Communications Corp., 7.75%, 12/15/10    2,000,000 
  460     Sinclair Broadcast Group, Inc., 4.875%, 7/15/18    429,525 
  185     Sirius Satellite Radio, Inc., 9.625%, 8/01/13    176,675 
  4,500 1   TL Acquisitions, Inc., 10.50%, 1/15/15    4,140,000 
  1,465 1   Univision Communications, Inc., 9.75%, 3/15/15    1,333,150 
  2,390     Vertis, Inc., 9.75%, 4/01/09    2,384,025 
  4,442     Young Broadcasting, Inc., 10.00%, 3/01/11    4,042,220 
        Total Media   62,527,475 
        Real Estate—0.3%     
  2,000 3   Rouse Co., 5.375%, 11/26/13    1,839,638 

2

BlackRock Limited Duration Income Trust (BLW) (continued)
(Percentages shown are based on Net Assets)


Principal
       
Amount
       
(000) 
 
Description 
Value 
        Technology—3.3%     
        Amkor Technology, Inc.,     
$
2,063        7.75%, 5/15/13  $ 1,882,487 
  600        9.25%, 6/01/16    576,000 
  1,965 3   Celestica, Inc., 7.625%, 7/01/13 (Canada)    1,768,500 
        Freescale Semiconductor, Inc.,     
  5,460 1      9.125%, 12/15/14    4,818,450 
  600 1,2      9.235%, 12/15/14    550,500 
  430 1   Hynix Semiconductor, Inc., 9.875%, 7/01/12 (South Korea)    479,450 
  2,700     NXP BV/NXP Funding LLC, 9.50%, 10/15/15 (Netherlands)    2,342,250 
        Sanmina-SCI Corp.,     
  125        6.75%, 3/01/13    110,000 
  1,710 3      8.125%, 3/01/16    1,513,350 
  1,340     Sensata Technologies, 8.00%, 5/01/14 (Netherlands)    1,232,800 
        SunGard Data Systems, Inc.,     
  590        9.125%, 8/15/13    592,950 
  2,600        10.25%, 8/15/15    2,600,000 
  3,765     Superior Essex Communications LLC/Essex Group, Inc., 9.00%, 4/15/12    3,727,350 
        Total Technology   22,194,087 
        Telecommunications—8.1%     
  1,420     Cincinnati Bell, Inc., 7.25%, 7/15/13    1,398,700 
  1,830     Cricket Communications, Inc., 9.375%, 11/01/14    1,804,838 
  5,000 3   Deutsche Telekom Intl. Finance BV, 8.00%, 6/15/10 (Netherlands)    5,341,045 
        Digicel Group Ltd. (Bermuda)     
  1,120 1      8.875%, 1/15/15    1,030,400 
  2,797 1      9.125%, 1/15/15    2,573,257 
  860 2   Hawaiian Telcom Communications, Inc., Ser. B, 10.86%, 5/01/13    842,800 
  2,495     Intelsat Corp., 9.00%, 6/15/16    2,501,238 
        Intelsat Ltd. (Bermuda)     
  415 2      8.886%, 1/15/15    417,075 
  1,800        9.25%, 6/15/16    1,836,000 
  630        11.25%, 6/15/16    658,350 
  2,815 2      11.409%, 6/15/13    2,927,600 
  1,470     Intelsat Subsidiary Holding Co. Ltd., 8.625%, 1/15/15 (Bermuda)    1,473,675 
  3,850 1   Nordic Telephone Co. Holdings A.p.S., 8.875%, 5/01/16 (Denmark)    3,811,500 
        Nortel Networks Ltd. (Canada)     
  465 1      10.125%, 7/15/13    481,275 
  2,220 1,2      9.61%, 7/15/11    2,247,750 
  3,517     PanAmSat Corp., 9.00%, 8/15/14    3,538,981 
  3,231 1,2   ProtoStar I Ltd., 12.50%, 10/15/12 (Bermuda)    3,489,172 
  2,728 2   Qwest Communications Intl., Inc., 8.86%, 2/15/09    2,734,820 
        Qwest Corp.,     
  1,000        7.875%, 9/01/11    1,015,000 
  2,500 2,3      8.61%, 6/15/13    2,587,500 
  2,675 3      9.125%, 3/15/12    2,812,094 
  3,595     West Corp., 11.00%, 10/15/16    3,577,025 
  1,500 1   Wind Acquisition Finance S.A., 10.75%, 12/01/15 (Luxembourg)    1,545,000 
        Windstream Corp.,     
  2,340 3      8.125%, 8/01/13    2,366,325 
  1,310        8.625%, 8/01/16    1,326,375 
        Total Telecommunications    54,337,795 
        Transportation—1.3%     
  520     American Airlines, Inc., Ser. 99-1, 7.324%, 4/15/11    514,800 
  490     Britannia Bulk Plc, 11.00%, 12/01/11 (United Kingdom)    490,000 
  1,715     CHC Helicopter Corp., 7.375%, 5/01/14 (Canada)    1,594,950 
  111     Horizon Lines LLC, 9.00%, 11/01/12    117,938 
  2,150 1   Navios Maritime Holdings, Inc., 9.50%, 12/15/14 (Marshall Islands)    2,182,250 
  1,650 3   Overseas Shipholding Group, Inc., 8.75%, 12/01/13    1,732,500 
  2,850 1   St. Acquisition Corp., 12.50%, 5/15/17    2,023,500 
        Total Transportation   8,655,938 
        Total Corporate Bonds    356,249,663 
        Bank Loans—58.0%     
        Aerospace & Defense—0.5%     
  968     Arinc, Inc., Loan B, LIBOR + 2.00%, 3/10/11    966,290 
  1,755     DI Finance/DynCorp Intl., Loan B, LIBOR + 2.25%, 2/11/11    1,704,213 
  491     Wesco Aircraft Hardware Corp., First Lien Loan, LIBOR + 2.25%, 9/29/13    466,292 
        Total Aerospace & Defense   3,136,795 
        Automotive—2.1%     
  2,000     Goodyear Tire & Rubber Co., Third Lien Loan, LIBOR + 3.50%, 3/01/11    1,930,000 
  639     IAP Worldwide Services, Inc., First Lien Loan, LIBOR + 4.25%, 12/30/12    573,505 
  1,493     Keystone Automotive Industries, Inc., Loan B, LIBOR + 3.50%, 1/12/12    1,388,025 
  447 5   Lear Corp., First Lien Loan, LIBOR + 2.50%, 4/25/12    438,230 
  990     Mark IV Industries, Inc., First Lien Loan, LIBOR + 2.50%, 6/21/11    953,700 
        Metaldyne Corp.,     
  98        LIBOR, 1/11/14    96,115 
  667        LIBOR, 1/15/14    653,585 
  498     Motorsport Aftermarket Group, Inc., LIBOR + 2.50%, 11/30/13    497,500 
        Navistar Intl. Corp.,     
  2,750        LIBOR + 3.25%, 1/19/12    2,612,500 
  1,000        0.50%, 1/19/12    950,000 
  972     Rent-A-Center, Inc., Loan B, LIBOR + 1.75%, 6/30/12    948,711 
        Reynolds & Reynolds Co.,     
  1,948        LIBOR + 2.00%, 10/26/12    1,880,220 
  1,250        Second Lien Loan, LIBOR + 5.50%, 10/26/13    1,237,500 
        Total Automotive   14,159,591 
        Basic Materials—2.7%     
  1,000     Appleton Papers, Inc., Loan B, LIBOR + 1.75%, 6/05/14    956,667 
  1,000     BOC Edwards, LIBOR + 2.00%, 5/31/14    935,000 
  500     Brenntag Holdings, Loan B6, LIBOR + 2.25%, 9/15/14 (EUR)    677,234 
  1,000     Cognis Group, LIBOR, 11/17/13 (EUR)    1,322,260 
  817     Compass Minerals Group, Inc., LIBOR + 1.50%, 12/22/12    788,472 
  1,500     ISP Chemco LLC, Loan B, LIBOR + 1.75%, 6/04/14    1,431,750 
        Ineos Group Holdings Plc,     
  1,241        Loan A4, LIBOR + 2.25%, 12/16/12    1,201,036 
  1,733        Loan B2, LIBOR + 2.25%, 12/16/13    1,670,130 
  1,733        Loan C2, LIBOR + 2.75%, 12/23/14    1,670,130 
        Invista BV,     
  1,287        Loan B1, LIBOR + 1.50%, 4/29/11    1,231,989 
  682        Loan B2, LIBOR + 1.50%, 4/29/11    653,046 
  1,200     John Maneely Co., Loan B, LIBOR + 3.25%, 12/08/13    1,066,478 

3

BlackRock Limited Duration Income Trust (BLW) (continued)
(Percentages shown are based on Net Assets)


Principal
       
Amount
       
(000) 
 
Description 
Value 
  (000 )    Description    Value 
        Basic Materials—(cont’d)     
$
1,562     Nalco Co., Loan B, LIBOR + 1.75%, 11/04/10 
$
1,517,828 
  489     PQ Corp., TBD, 2/28/12    483,862 
  980     Rockwood Specialties Group, Inc., Loan E, LIBOR + 1.75%, 12/13/13    951,009 
  1,611     SP Newsprint, Loan B, LIBOR + 2.75%, 1/09/10    1,546,667 
        Total Basic Materials   18,103,558 
        Building & Development—2.4%     
  297     Armstrong World Industries, Inc., LIBOR + 1.75%, 10/02/13    286,122 
  1,241     Beacon Roofing Supply, Inc., Loan B, LIBOR + 2.00%, 9/30/13    1,203,406 
        Brand Energy & Infrastructure Services, Inc.,     
  499        First Lien Loan B, LIBOR + 2.25%, 2/07/14    467,163 
  498        Second Lien Loan, LIBOR + 6.00%, 2/07/15    484,821 
  2,488     Building Materials Holding Corp., LIBOR + 2.75%, 3/15/14    2,288,514 
  1,500     Custom Building Products, Inc., Second Lien Loan, LIBOR + 5.00%, 4/29/12    1,425,000 
  1,500     Edge-Star Partners, First Lien Loan, 4.00%, 11/18/07    1,500,000 
  250     Euramax Intl., Inc., Second Lien Loan, LIBOR + 8.00%, 6/29/13    242,500 
  1,500     Hanley Wood LLC, LIBOR + 2.25%, 8/01/12    1,380,000 
        Lafarge Roofing Holdings, Inc.,     
  725        Loan B1, LIBOR + 2.13%, 2/28/14 (EUR)    968,389 
  296        Loan B2, LIBOR + 2.13%, 2/28/14 (EUR)    395,538 
  278        Loan B4, LIBOR, 2/28/14    272,502 
  673        Loan C1, LIBOR, 2/28/15 (EUR)    903,417 
  346        Loan C2, LIBOR, 2/28/15 (EUR)    464,732 
  285        Loan C4, LIBOR, 2/28/15    280,480 
  495     Nacco Industries, Inc., 0.25%, 3/21/13    494,381 
  486     Nortek, Inc., Loan B, PRIME + 1.25%, 8/27/11    461,938 
  850     Rhodes Ranch, First Lien Loan, LIBOR + 3.25%, 11/21/10    830,875 
  1,875     United Subcontractors, Inc., First Lien Loan, LIBOR + 3.00%, 12/27/12    1,823,520 
        Total Building & Development   16,173,298 
        Conglomerates—1.4%     
        Atlantis Plastics, Inc.,     
  978        First Lien Loan, LIBOR + 4.00%, 9/22/11    971,635 
  250        Second Lien Loan, LIBOR + 9.00%, 3/22/12    232,500 
  893     Blount Intl., Loan B, LIBOR + 1.75%, 8/09/10    882,519 
  1,951     Colfax Corp., Loan B, LIBOR + 2.25%, 5/30/09    1,962,974 
        Invensys Plc,     
  1,000        Loan A, LIBOR + 2.00%, 12/15/11    990,417 
  1,000        Loan B, LIBOR + 2.13%, 12/15/11 (GBP)    2,018,406 
  596     Jarden Corp., LIBOR + 1.75%, 1/24/12    579,504 
  1,122     Sensus Metering Systems, Inc., Loan B1, LIBOR + 2.00%, 12/17/10    1,110,522 
  722     St. John Knits Intl., Inc., Loan B, LIBOR + 3.00%, 3/21/12    722,091 
        Total Conglomerates   9,470,568 
        Consumer Products—9.1%     
  1,000     Aearo Technologies, Inc., Second Lien Loan, LIBOR + 5.50%, 9/24/13    967,500 
  988     24 Hour Fitness Worldwide, Inc., Loan B, LIBOR + 2.50%, 6/08/12    972,688 
        Advance Food Co.,     
  222        LIBOR + 1.75%, 3/16/14    210,556 
  776        Loan B, LIBOR + 1.75%, 3/16/14    735,102 
  750     American Safety Razor Co., Second Lien Loan, LIBOR + 6.25%, 1/30/14    735,000 
        ARAMARK Corp.,     
  178        Letter of Credit, 0.50%, 1/26/14    166,500 
  2,527        Loan B, LIBOR + 2.00%, 1/26/14    2,366,612 
  449     Arby's Restaurant Group, Inc., Loan B, LIBOR + 2.25%, 7/25/12    434,283 
  418     Bare Escentuals Beauty, Inc., First Lien Loan, LIBOR + 2.25%, 2/18/12    411,274 
        Berkline Bench Craft,     
  96 6      Loan B, PRIME + 2.75%, 11/03/11    56,920 
  1,005 6      Second Lien Loan, PRIME + 7.00%, 5/11/12    100,505 
  1,247     Brickman Group Ltd., LIBOR + 2.00%, 1/23/14    1,228,172 
  1,290     Burger King Corp., Loan B1, LIBOR + 1.50%, 6/30/12    1,244,833 
  1,024     Burlington Coat Factory Warehouse Corp., Loan B, LIBOR + 2.25%, 5/28/13    943,861 
  1,093     Central Garden & Pet Co., Loan B, LIBOR + 1.50%, 9/30/12    1,070,795 
        Cenveo Corp.,     
  1,857        Loan C, LIBOR + 1.75%, 6/21/13    1,857,414 
  62        Delayed Draw Loan, LIBOR + 1.75%, 6/21/13    61,914 
  490     Chiquita Brands Intl., Inc., Loan C, LIBOR + 3.00%, 6/28/12    478,056 
  3,500     Claire's Stores, Inc., Loan B, LIBOR + 2.75%, 5/29/14    3,155,834 
  994     Coinmach Corp., Loan B1, 1.25%, 12/19/12    979,038 
  2,215     Cracker Barrel, Loan B, LIBOR + 1.50%, 4/27/13    2,116,650 
  1,500     Culligan International Co., Second Lien Loan, LIBOR, 4/24/13 (EUR)    2,052,225 
  500     DS Waters Holdings, Inc., Loan B, LIBOR, 3/07/12    492,500 
  998     David's Bridal, Inc., LIBOR + 2.00%, 1/31/14    943,261 
        Dole Food Co., Inc.,     
  468        Letter of Credit, LIBOR, 4/12/13    439,702 
  1,041        LIBOR + 2.00%, 4/12/13    976,963 
  3,468        Loan C, LIBOR + 2.00%, 4/12/13    3,256,544 
  1,938     Eight O'Clock Coffee, First Lien Loan, LIBOR + 2.75%, 11/14/11    1,938,433 
  709     FTD, Inc., LIBOR + 2.00%, 7/28/13    698,821 
  471     Foamex Intl. Inc., First Lien Loan, LIBOR + 2.25%, 2/12/13    455,686 
  350     Gold Toe, Second Lien Loan, LIBOR + 6.00%, 4/30/14    350,000 
  2,000     JRD Holdings, Inc., LIBOR, 5/11/14    1,860,000 
  791     Language Line, Inc., Loan B1, LIBOR + 3.25%, 6/11/11    774,071 
  1,000 6   Le-Natures, Inc., Loan B, LIBOR + 4.00%, 3/01/11    603,750 
  2,420     Michael Foods, Inc., Loan B1, LIBOR + 2.00%, 11/21/10    2,363,840 
  1,440     Neiman-Marcus Group, Inc., LIBOR + 1.75%, 4/06/13    1,373,141 
  1,374     New Page, Loan B, LIBOR + 2.25%, 5/02/11    1,348,555 
        OSI Food Co.,     
  75        LIBOR, 6/14/13    71,466 
  925        Loan B, LIBOR + 2.25%, 6/14/14    879,034 
        OSI Group LLC,     
  1,458        LIBOR + 2.00%, 9/02/11    1,385,813 
  1,459        Loan B, LIBOR + 2.00%, 9/02/11    1,385,813 
  1,500     Orchard Supply Hardware Stores Corp., Loan B2, LIBOR + 2.45%, 12/09/07    1,470,000 
  990     Oriental Trading Co., LIBOR + 2.25%, 7/31/13    940,500 
  398     PETCO Animal Supplies, Inc., LIBOR + 2.50%, 10/26/13    378,266 
  1,167     Pantry, Inc. (The), Loan B, LIBOR, 5/31/14    1,076,250 

4

BlackRock Limited Duration Income Trust (BLW) (continued)
(Percentages shown are based on Net Assets)


Principal
       
Amount
       
(000) 
 
Description 
Value 
        Consumer Products—(cont’d)     
$
591     Pierre Foods, Inc., Loan B, LIBOR + 2.25%, 6/30/10 
$
582,379 
  750     Pivotal Promontory LLC, Second Lien Loan, LIBOR + 6.50%, 8/31/11    675,000 
  1,358     Prestige Brands Holdings, Inc., Loan B, PRIME + 1.25%, 4/06/11    1,320,939 
  1,980     Quiznos Corp., First Lien Loan, LIBOR + 2.25%, 5/05/13    1,886,500 
        Riverdeep Interactive Learning, Inc.,     
  402        LIBOR + 6.70%, 12/21/07    401,435 
  997        LIBOR, 12/21/13    961,335 
  3,650 5   ServiceMaster Co. (The), LIBOR + 4.50%, 6/19/08    3,248,500 
        Sturm Foods, Inc.,     
  1,372        LIBOR + 2.50%, 1/31/14    1,316,700 
  500        Second Lien Loan, LIBOR + 7.00%, 5/26/12    475,000 
  621 6   Synventive Acquisition, Inc., LIBOR + 14.00%, 1/31/14    279,656 
  771     Tupperware Corp., LIBOR + 1.50%, 12/05/12    748,557 
  355     Warnaco, Inc., Loan B, PRIME + 0.50%, 1/31/13    354,861 
        Wastequip, Inc.,     
  290        Delayed Draw Loan, 1.00%, 2/05/13    287,855 
  689        Loan B, LIBOR + 2.25%, 2/05/13    683,656 
  21        TBD, 2/15/13    20,989 
        Total Consumer Products   61,051,503 
        Containers & Packaging—2.1%     
        Bluegrass Container Co. LLC,     
  342        First Lien Loan, LIBOR + 2.25%, 6/30/13    332,452 
  1,143        Loan B, LIBOR + 2.25%, 6/30/13    1,111,091 
  1,500        Second Lien Loan, LIBOR + 5.00%, 12/30/13    1,472,813 
        Consolidated Container Co. LLC,     
  998        First Lien Loan, LIBOR, 3/28/14    947,625 
  750        Second Lien Loan, LIBOR, 9/28/14    660,000 
  2,462     Georgia-Pacific Corp., First Lien Loan, LIBOR + 1.75%, 12/20/12    2,314,309 
  4,988     Graham Packaging Co. LP, Loan B, LIBOR + 2.25%, 10/07/11    4,725,656 
  568     Smurfit-Stone Container Enterprises, Inc., 0.50%, 11/01/10    551,877 
  1,935     Solo Cup, Inc., LIBOR + 3.50%, 2/27/11    1,878,562 
 

 

   

Total Containers & Packaging

   13,994,385 
        Ecological Services & Equipment—0.1%     
  500     Envirosolutions, Inc., LIBOR + 3.50%, 7/07/12    501,250 
  105     Sensus Metering Systems, Inc., Loan B2, LIBOR + 2.00%, 12/17/10    104,434 
 

 

   

Total Ecological Services & Equipment

   605,684 
        Energy—3.9%     
  429     AES Corp., LIBOR + 1.75%, 4/30/08    417,857 
        Big West Oil LLC,     
  550        Delayed Draw Loan, LIBOR, 5/15/14    528,000 
  450        PRIME + 1.25%, 5/15/14    432,000 
        Coffeyville Resources LLC,     
  243        Letter of Credit, 0.50%, 12/29/10    229,409 
  1,250        Loan D, PRIME + 2.00%, 12/28/13    1,179,360 
        Coleto Creek Power,     
  127        Letter of Credit, LIBOR + 2.75%, 6/28/13    124,841 
  1,854        Loan B, LIBOR + 2.75%, 6/28/13    1,816,808 
  1,500     Dresser, Inc., Loan B, LIBOR + 2.50%, 5/04/14    1,443,750 
        ElectricInvest Holding Co. Ltd.,     
  596        LIBOR + 3.75%, 12/21/12 (EUR)    815,358 
  1,100        LIBOR + 3.75%, 12/21/12 (GBP)    2,234,909 
  2,000     Flint, LIBOR, 11/09/14    1,951,666 
        Generac Power Systems, Inc.,     
  990        First Lien Loan, LIBOR + 2.50%, 11/09/13    901,725 
  500        Second Lien Loan, LIBOR + 6.00%, 5/10/14    400,625 
  1,477     Key Energy Services, Inc., Loan C, LIBOR + 2.50%, 6/30/12    1,440,562 
        MACH Gen LLC,     
  70        Letter of Credit, 0.50%, 2/22/13    67,887 
  676        LIBOR + 2.00%, 2/22/14    652,957 
  494     MEG Energy Corp., Loan B, LIBOR + 2.00%, 4/03/13    482,229 
  498     McJunkin Corp., Loan B, LIBOR + 2.25%, 1/31/13    492,525 
        Northeast Energy,     
  159        Letter of Credit, LIBOR + 2.50%, 11/01/13    154,474 
  1,335        Loan B, LIBOR + 2.50%, 11/01/13    1,300,553 
  250        Second Lien Loan, LIBOR + 4.50%, 5/01/14    243,125 
  83     Regency Gas, First Lien Loan, LIBOR + 2.50%, 8/15/13    82,500 
  2,000     Safenet, Inc., Loan B, LIBOR, 4/12/14    1,880,000 
        SandRidge Energy, Inc.,     
  1,500        LIBOR, 4/01/15    1,496,250 
  1,500        TBD, 4/01/15    1,496,250 
        TPF Generation Holdings LLC,     
  47        0.50%, 12/15/11    45,564 
  151        Letter of Credit, LIBOR + 2.10%, 12/15/13    145,349 
  795        Loan B, LIBOR + 2.00%, 12/15/13    768,029 
  1,481     Trinidad Energy Services Income Trust, LIBOR + 2.50%, 5/13/11    1,466,437 
        Western Refining,     
  196        Delayed Draw Loan, LIBOR + 1.75%, 5/30/14    187,098 
  804        LIBOR + 1.75%, 5/30/14    765,402 
        Wolf Hollow I LP,     
  100        LIBOR + 2.25%, 6/22/12    95,000 
  472        Loan B, LIBOR + 2.25%, 6/22/12    448,077 
  400        Synthetic Letter of Credit, LIBOR + 2.25%, 6/22/12    380,000 
        Total Energy   26,566,576 
        Entertainment & Leisure—4.0%     
        Alpha III,     
  1,500 5      Loan B1, LIBOR, 12/31/13    1,447,500 
  1,000 5      Loan D, LIBOR, 6/30/14    992,500 
  3,196     CCM Merger, Inc., Loan B, LIBOR + 2.00%, 7/13/12    3,052,273 
  1,117     Cinemark, Inc., Loan B, LIBOR + 1.75%, 10/05/13    1,074,226 
  1,000     Discovery Channel, Loan B, LIBOR + 2.00%, 5/14/14    970,833 
  500     Edge Las Vegas, First Lien Loan, LIBOR + 3.50%, 6/01/09    500,000 
  938     Fairmont Hotels & Resorts, Inc., Loan B, LIBOR + 3.25%, 5/12/11    942,598 
  1,985     Greektown Holdings LLC, Loan B, LIBOR + 2.50%, 12/03/12    1,935,375 
        Green Valley Ranch Gaming LLC,     
  481        First Lien Loan, LIBOR + 2.00%, 2/16/14    465,550 
  1,000        Second Lien Loan, LIBOR + 3.25%, 8/16/14    951,667 
  493     Hit Entertainment Ltd., LIBOR + 2.00%, 3/20/12    474,031 
        Las Vegas Sands LLC,     
  700        Delayed Draw Loan, LIBOR + 0.75%, 5/23/14    666,945 
  2,300        Loan B, LIBOR + 1.50%, 5/23/14    2,191,389 
  4,938     Metro-Goldwyn-Mayer Studios, Inc., Loan B, LIBOR + 3.25%, 4/08/12    4,639,004 
  981     Penn National Gaming, Inc., Loan B, LIBOR + 1.75%, 10/03/12    958,659 

5

BlackRock Limited Duration Income Trust (BLW) (continued)
(Percentages shown are based on Net Assets)


Principal
     
Amount
     
(000) 
Description 
Value 
      Entertainment & Leisure—(cont’d)     
$
4,693   Travelport LLC, LIBOR + 2.50%, 3/22/12 
$
4,387,622 
      Travelport, Inc.,     
  29      Letter of Credit, LIBOR + 2.50%, 8/23/13    28,236 
  145      LIBOR + 2.50%, 8/23/13    140,722 
  495   Wembley, Inc., First Lien Loan, LIBOR + 2.50%, 8/23/11    494,958 
  450   Yellowstone Mountain Club, LIBOR + 2.38%, 9/30/10    437,495 
      Total Entertainment & Leisure    26,751,583 
      Financial Institutions—3.6%     
  984   Advantage Sales & Marketing, Inc., LIBOR + 2.00%, 3/29/13    938,291 
  1,493   Alix Partners, LIBOR + 2.25%, 10/12/13    1,470,112 
  908   Arias Acquisitions, Inc., LIBOR + 5.50%, 7/26/11    812,916 
  929   BNY Convergex Group LLC, First Lien Loan, LIBOR + 3.00%, 10/02/13    903,809 
  993   Bankruptcy Management, LIBOR + 2.75%, 7/28/12    982,575 
  938   Billing Services Group, LIBOR + 2.50%, 5/11/12 (EUR)    1,282,641 
  432   CCC Information Services Group, Inc., Loan B, LIBOR + 2.50%, 2/10/13    417,636 
  1,241   Charter Mac, Loan B, LIBOR + 2.50%, 8/15/12    1,153,781 
  744   Conseco, Inc., LIBOR + 2.00%, 10/10/13    710,878 
  3,000 5 Enclave, Loan B, LIBOR, 3/01/12    2,828,340 
      GS Holdings Corp.,     
  53      Delayed Draw Loan, LIBOR + 1.75%, 5/12/13    51,532 
  83      LIBOR + 1.75%, 5/13/11    83,580 
  545      LIBOR + 1.75%, 5/12/13    534,005 
      J.G. Wentworth LLC,     
  4,000      First Lien Loan, LIBOR + 2.25%, 4/04/14    3,720,000 
  1,000      Second Lien Loan, LIBOR + 5.00%, 10/04/14    980,000 
  385   Jostens, Inc., Loan C, LIBOR + 2.00%, 12/21/11    386,648 
  965   Lucite Intl. Finance Plc, LIBOR + 9.00%, 7/07/13 (EUR)    1,313,782 
  1,532 5 NASDAQ Stock Market, Inc., TBD, 4/18/12    1,478,257 
  858   Professional Service, Inc., Loan B, LIBOR + 2.75%, 10/31/12    840,656 
  497   Renfro Corp., Delayed Draw Loan, LIBOR + 3.25%, 10/05/13    479,755 
  1,114   Sedgewick Claims Management Services, Inc., Loan B, LIBOR + 2.25%, 1/31/13    1,080,129 
  1,000   Standard Aero Holdings, Inc., TBD, 8/24/12    970,000 
  419   Universal American Financial Corp., LIBOR + 2.25%, 3/31/09    420,320 
  743   Vertellus, First Lien Loan, LIBOR + 3.25%, 3/31/13    705,375 
      Total Financial Institutions   24,545,018 
      Health Care—2.9%     
  861   CCS Medical, Loan B, LIBOR + 3.25%, 9/30/12    805,867 
      Cardinal Health, Inc.,     
  1,500      0.50%, 4/10/14    1,395,000 
  2,000      Loan B, LIBOR, 4/15/14 (EUR)    2,544,759 
      Community Health Systems, Inc.,     
  217      Delayed Draw Loan, 0.25%, 7/01/14    206,041 
  3,283      Loan B, LIBOR + 2.25%, 7/01/14    3,123,334 
  250   Emdeon Business Services, LLC, Second Lien Loan, LIBOR, 5/16/14    241,875 
  666   Eye Care Centers of America, Inc., LIBOR + 2.50%, 2/16/12    649,397 
  1,995   Health Management Associates, Inc., LIBOR + 1.75%, 2/28/14    1,934,595 
  1,146   HealthSouth Corp., Loan B, LIBOR + 2.50%, 3/10/13    1,111,025 
  424   Multiplan, Inc., LIBOR + 2.50%, 4/12/13    406,789 
  492   National Renal Institutes, Inc., Loan B, LIBOR + 2.25%, 3/31/13    462,385 
      Quintiles Transnational Corp.,     
  988      First Lien Loan, LIBOR + 2.00%, 3/31/13    935,656 
  250      Second Lien Loan, LIBOR + 4.00%, 3/31/14    242,500 
  977   Select Medical Corp., Loan B, LIBOR + 2.00%, 2/24/12    948,571 
  983   Vanguard Health Holding Co. II LLC, LIBOR + 2.25%, 9/23/11    938,412 
      Warner Chilcott Corp.,     
  1,787      Loan B, LIBOR + 2.00%, 1/18/12    1,725,697 
  517      Loan C, LIBOR + 2.00%, 1/18/12    498,791 
  64      TBD, 1/18/11    61,829 
  24   TBD, 1/18/12    23,026 
  970   WellCare Holdings LLC, LIBOR + 2.50%, 5/13/09    970,000 
      Total Health Care   19,225,549 
      Industrials—2.7%     
  993   Acosta, Inc., LIBOR + 2.25%, 7/28/13    953,627 
  985   Bolthouse Farms, Inc., First Lien Loan, LIBOR + 2.25%, 12/16/12    965,300 
  1,000   Bucyrus International, Inc., LIBOR, 5/04/14    980,000 
  2,750   Buhrmann U.S., Inc., Loan D1, LIBOR + 1.75%, 12/23/10    2,667,045 
  1,725   Drummond Co., Inc., LIBOR + 1.50%, 2/14/11    1,681,875 
  1,500   Harland Clarke Holdings Corp., Loan B, LIBOR + 2.50%, 6/30/14    1,399,376 
  1,500   Jason, Inc., LIBOR + 2.50%, 4/30/10    1,462,500 
      Kion Group,     
  250      Loan B, LIBOR, 3/15/15    242,708 
  250      Loan C, LIBOR, 3/15/16    243,958 
  1,500   Lincoln Industrial Corp., Second Lien Loan, LIBOR, 12/18/14    1,503,750 
  1,000   Mivisa Envases S.A.U., Loan B1, LIBOR, 5/03/15 (EUR)    1,331,809 
  2,488   Oshkosh Truck Corp., Loan B, LIBOR + 1.75%, 12/06/13    2,391,109 
      Standard Steel LLC,     
  21      Delayed Draw Loan, 1.00%, 6/30/12    20,000 
  413      Loan B, LIBOR + 2.50%, 6/30/12    396,000 
  63      TBD, 7/15/12    60,000 
  1,257   Thermo Fluids, Inc., Loan B, LIBOR + 3.00%, 6/27/13    1,181,700 
      Trimas Corp.,     
  94      Letter of Credit, 0.50%, 8/02/13    92,813 
  403      Loan B, LIBOR + 2.75%, 8/02/13    399,171 
  469   United Rentals NA, Inc., LIBOR + 2.00%, 2/14/11    458,679 
      Total Industrials   18,431,420 
      Media—12.0%     
  500   Affinion Group, Inc., LIBOR + 6.25%, 3/01/12    472,500 
      American Lawyers Media, Inc.,     
  1,698      First Lien Loan, 0.75%, 3/05/10    1,686,513 
  2,000      Second Lien Loan, LIBOR + 5.75%, 3/07/11    1,990,000 
  990   Atlantic Broadband Finance LLC, Loan B2, LIBOR + 2.25%, 8/10/12    960,939 
  1,000   Audio Visual Services Corp., Second Lien Loan, LIBOR + 5.50%, 9/15/14    990,000 
  716   CMP Susquehanna Corp., Loan B, LIBOR + 2.00%, 5/05/13    689,322 

6

BlackRock Limited Duration Income Trust (BLW) (continued)
(Percentages shown are based on Net Assets)


Principal
       
Amount
       
(000) 
 
Description 
Value 
        Media—(cont’d)     
$
3,950     Cablevision Systems Corp., LIBOR + 1.75%, 3/29/13 
$
3,781,418 
  6,484     Cequel Communications II LLC, First Lien Loan, LIBOR + 2.00%, 11/05/13    6,154,700 
  6,000     Charter Communications Holdings LLC, LIBOR + 2.63%, 4/28/13    5,697,000 
        Dex Media West LLC/Dex Media Finance Co.,     
  696        Loan B1, 0.38%, 3/09/10    672,415 
  2,769        Loan B2, LIBOR + 1.50%, 3/09/10    2,680,618 
  1,314     DirecTV Holdings LLC, Loan B, LIBOR + 1.50%, 4/13/13    1,275,357 
        Gatehouse Media Operating, Inc.,     
  592        Delayed Draw Loan, LIBOR + 2.00%, 8/28/14    559,618 
  1,000        Loan B, LIBOR + 2.00%, 8/28/14    945,833 
        Gray Television, Inc.,     
  700        Delayed Draw Loan, LIBOR + 1.50%, 12/31/14    662,815 
  1,300        TBD, 9/18/14    1,230,937 
  2,985     Idearc, Inc., Loan B, LIBOR + 2.00%, 11/17/14    2,842,535 
  500     Knology, First Lien Loan, LIBOR + 2.25%, 6/30/12    492,500 
  1,990     Mediacom Broadband LLC, Loan D1, LIBOR + 1.75%, 1/31/15    1,906,846 
  1,965     Mediacom Illinois LLC, Loan C, LIBOR + 1.75%, 1/31/15    1,891,433 
  1,912     Mission Broadcasting, Inc., Loan B, LIBOR + 1.75%, 10/01/12    1,854,506 
  388     Multicultural Radio Broadcasting, Inc., LIBOR + 2.75%, 12/18/12    387,030 
        NTL Investment Holding Ltd.,     
  968        Loan B2, TBD, 9/03/12 (GBP)    1,922,398 
  484        Loan B4, LIBOR + 2.00%, 9/03/12    476,316 
  2,000        Loan C, LIBOR + 2.75%, 3/03/13 (GBP)    4,014,807 
  1,000     National CineMedia, Inc., Loan B, LIBOR + 1.75%, 2/13/15    966,071 
        New Wave Communications,     
  941        Loan A, LIBOR + 3.25%, 6/30/13    931,095 
  237        Loan Z, LIBOR + 3.25%, 6/20/13    234,630 
  63        TBD, 6/20/13    62,370 
  1,811     Nexstar Finance, Inc., Loan B, LIBOR + 1.75%, 10/01/12    1,756,640 
  3,474     Nielsen Finance LLC/Nielsen Finance Co., Loan B, LIBOR + 2.25%, 8/09/13    3,372,250 
        Penton Media, Inc.,     
  1,122        First Lien Loan, LIBOR + 2.25%, 2/01/13    1,089,223 
  1,000        Second Lien Loan, LIBOR + 5.00%, 2/01/14    965,000 
  1,000     Persona Communications, Inc., Second Lien Loan, LIBOR + 6.00%, 4/12/14    993,750 
        ProSieben (EUR),     
  500        TBD, 6/30/15    643,031 
  500        TBD, 6/30/16    646,451 
  1,000        TBD, 12/31/16    1,279,220 
  750     Puerto Rico Cable Acquisition Co., Second Lien Loan, LIBOR + 6.25%, 1/26/12    735,000 
  1,000     RCN Corp., TBD, 5/24/14    970,000 
  3,310     RH Donnelley, Inc., Loan D2, LIBOR + 1.50%, 6/30/11    3,183,247 
        Univision Communications, Inc.,     
  362        Delayed Draw Loan, TBD, 9/29/14    333,106 
  5,638        Loan B, LIBOR + 2.25%, 9/29/14    5,181,644 
  1,000        Second Lien Loan, LIBOR, 3/29/09    970,000 
        UPC Broadband Holding BV,     
  1,413        Loan M1, LIBOR, 12/31/14 (EUR)    1,875,572 
  3,500        Loan N1, LIBOR, 12/31/14    3,368,750 
  1,928     WMG Acquisition Corp., LIBOR + 2.00%, 2/28/11    1,876,755 
        Yell Group Plc,     
  1,000        Loan B, LIBOR + 2.00%, 2/10/13    982,031 
  1,500        Loan B, LIBOR + 2.00%, 2/27/13 (EUR)    2,017,044 
        Total Media   80,671,236 
        Real Estate—0.3%     
  270     Kyle Acquisition Group LLC, Loan B, LIBOR + 3.50%, 7/20/08    262,756 
  489     Masonite Intl. Corp., LIBOR + 2.00% , 4/05/13    451,624 
  1,500     Realogy Corp., LIBOR + 3.00%, 10/10/13    1,406,785 
        Total Real Estate   2,121,165 
        Technology—2.2%     
  739     Affiliated Computer Services, Inc., Loan B, LIBOR + 2.00%, 3/20/13    714,741 
  973     ClientLogic Corp., LIBOR + 2.50%, 1/30/14    944,256 
  1,000     CoCreate Software, Inc., LIBOR, 5/30/13    1,002,500 
  372     Coinstar, Inc., LIBOR + 2.25%, 7/07/11    372,452 
  500     Electrical Components Intl. Holdings Co., Second Lien Loan, LIBOR + 6.50%, 5/01/14    470,000 
        Intergraph Corp.,     
  439        First Lien Loan, LIBOR + 2.25%, 5/29/14    423,853 
  750        Second Lien Loan, LIBOR, 11/15/14    727,500 
  992     Marvell Technology Group Ltd., Loan B, LIBOR + 2.50%, 11/09/09    952,200 
  696     RedPrairie Corp., Loan B, LIBOR + 3.00%, 7/31/12    667,905 
  1,500     San Juan Cable, LIBOR + 6.50%, 10/31/13    1,430,250 
  1,950     Sensata Technologies BV, Loan B, LIBOR + 1.75%, 4/27/13    1,879,791 
  1,000     Specialized Technology Resources, Inc., First Lien Loan, LIBOR, 6/18/14    990,000 
  2,450     SunGard Data Systems, Inc., Loan B, LIBOR + 2.00%, 2/11/13    2,348,608 
  950     Verifone, Inc., LIBOR + 1.75%, 10/31/13    931,000 
        Wire Rope Corp.,     
  827        LIBOR + 2.25%, 2/08/14    809,970 
  171        TBD, 1/30/14    168,000 
        Total Technology    14,833,026 
        Telecommunications—3.6%     
  1,995     American Cellular Corp., Loan B, LIBOR + 2.00%, 3/15/14    1,968,816 
  1,250     American Cellular Wireless LLC, TBD, 3/15/14    1,239,063 
        Cellular South, Inc.,     
  500        Delayed Draw Loan, 1.00%, 5/29/14    482,500 
  1,500        Loan B, LIBOR, 5/29/14    1,447,500 
  1,481     Consolidated Communications, Inc., Loan D, LIBOR + 1.75%, 10/14/11    1,451,625 
  500     Country Road Communications LLC, Second Lien Loan, LIBOR + 7.75%, 7/15/13    505,000 
        Eircom Group Plc (EUR),     
  2,000        Loan B, LIBOR + 2.38%, 9/30/14    2,670,823 
  2,000        Loan C, LIBOR + 2.75%, 9/30/15    2,651,647 
  4,000     Insight Midwest Holdings LLC, Loan B, 0.25%, 4/06/14    3,858,888 
  2,000     Iowa Telecommunications Services, Inc., Loan B, LIBOR + 1.75%, 11/23/11    1,956,250 
        NG Wireless,     
  140        Delayed Draw Loan, TBD 7/31/14    138,971 
  610        First Lien Loan, PRIME + 1.75%, 7/31/14    603,529 
  1,704     NTELOS, Inc., First Lien Loan, LIBOR + 2.25%, 8/24/11    1,653,058 
  2,985     West Corp., Loan B2, LIBOR + 2.38%, 10/24/13    2,853,179 

7

BlackRock Limited Duration Income Trust (BLW) (continued)
(Percentages shown are based on Net Assets)


Principal
Amount
(000) 
 
Description 
Value 
        Telecommunications—(cont’d)       
$  832     Wind Acquisition Finance S.A., Loan A2, LIBOR + 2.00%, 12/31/10 (EUR)  $ 1,116,419  
        Total Telecommunications   24,597,268  
        Transportation—2.4%       
        Dockwise Transport N.V.,       
  1,489        Loan B1, LIBOR + 2.38%, 4/20/15    1,479,454  
  1,489        Loan C, LIBOR + 2.88%, 4/20/16    1,486,898  
        Hawker Beechraft Acquisition Co.,       
  920        LIBOR + 2.00%, 3/26/14    870,248  
  78        Letter of Credit, 0.50%, 3/26/14    73,821  
  1,750     RailAmerica, Inc., Loan B, LIBOR + 2.25%, 8/14/08    1,723,750  
  644     Sirva Worldwide, Inc., LIBOR + 7.25%, 12/01/10    513,184  
  3,977     Swift Transportation Co., Inc., LIBOR + 3.00%, 5/10/14    3,509,477  
  3,000     U.S. Airways, Loan B, LIBOR + 2.50%, 3/24/14    2,850,000  
  2,250     United Air Lines, Inc., Loan B, LIBOR + 2.00%, 2/01/14    2,137,097  
  1,756     Vanguard Car Rental Holdings, Inc., Loan B, LIBOR + 3.00%, 6/14/13    1,736,492  
        Total Transportation   16,380,421  
        Total Bank Loans    390,818,644  
        Mortgage Pass-Through Securities—21.4%       
        Federal National Mortgage Assoc.,       
  8,804 3      5.50%, 12/01/28-11/01/33    8,542,097  
  17,000 3      7.25%, 1/15/10    17,886,006  
  121,000        TBA, 5.00%, 8/20/22    117,294,375  
        Total Mortgage Pass-Through Securities    143,722,478  
        Interest Only Asset-Backed Securities—0.3%       
        Sterling COOFS Trust,       
  26,466 2  
   Ser. 1, 2.365%, 4/15/29 
  1,174,422  
  21,856 2  
   Ser. 2, 2.081%, 3/30/30 
  587,384  
        Total Interest Only Asset-Backed Securities    1,761,806  
        U.S. Government and Agency Securities—4.1%       
        U.S. Treasury Notes,       
  20,425 3      3.375%, 12/15/08-9/15/09    20,050,401  
  6,000 3      3.875%, 5/15/09    5,925,468  
  1,815 3      4.25%, 8/15/15    1,752,893  
        Total U.S. Government and Agency Securities    27,728,762  
        Foreign Government Bonds—2.4%       
  238     Bolivarian Republic of Venezuela, 6.133%, 12/18/07    238,028  
  4,871 3   Peru Government International Bond, 8.375%, 5/03/16    5,577,295  
  5,000 3   Republic of Colombia, 9.75%, 4/23/09    5,342,500  
  5,093 3   Turkey, 7.00%, 9/26/16    5,112,099  
        Total Foreign Government Bonds    16,269,922  
        Trust Preferred Stock—0.0%       
  125,000     Superior Essex Holding Corp., Ser. A, 9.50%    100,000  
Units
         
(000)
         
        Warrants—0.0%       
  10 5,7   Reliant Resources, Inc., expires 8/25/08, strike price $0.001, 1 share for 1 warrant    206,456  
Shares          
        Common Stocks—0.0%       
  7,579 7   Critical Care Systems Intl., Inc.    47,369  
        Total Long-Term Investments 
(cost $964,613,210)		      
        SHORT-TERM INVESTMENT—0.2%    936,905,100  
        U.S. Government and Agency Discount Notes—0.2%       
$ 
1,200
 8   Federal Home Loan Bank Disc. Notes, 5.091%, 8/01/07 (cost $1,200,000) 
$
1,200,000  
Total Investments—139.3% (cost $965,813,2109) 
$
938,105,100  
Liabilities in excess of other assets (including $116,575,937 in payable for dollar rolls and $148,324,940
in reverse repurchase agreements payable)—(39.3)%  (264,540,038 ) 
Net Assets—100%
$
673,565,062  

 
1  

Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of July 31, 2007, the Trust held 14.3% of its net assets, with a current market value of $96,399,085, in securities restricted as to resale.

2   Variable rate security. Rate shown is interest rate as of July 31, 2007.
3   Entire or partial principal amount pledged as collateral for reverse repurchase agreements.
4   Illiquid security. As of July 31, 2007, the Trust held 0.7% of its net assets, with a current market value of $4,776,764, in these securities.
5   Security is fair valued.
6   Issuer is in default and/or bankruptcy.
7   Non-income producing security.
8  

Rate shown is the yield to maturity as of the date of purchase.

9   Cost for federal income tax purposes is $966,014,495. The net unrealized depreciation on a tax basis is $27,909,395, consisting of $6,557,901 gross unrealized appreciation and $34,467,296 gross unrealized depreciation.
     
    For Trust compliance purposes, the Trust's sector and 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 sector and industry sub-classifications for reporting ease.

 
KEY TO ABBREVIATIONS 
COOFS  —  Certificates and Confirmations of Originator Fees 
EUR  —  Euro 
GBP  —  British Pound 
LIBOR  —  London Interbank Offered Rate 
PRIME  —  Prime Rate 
TBA  —  To Be Announced 
TBD  —  To Be Determined 
 

8

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 and 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 (17 CFR 270.30a-3(d)) 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 Limited Duration Income Trust
   
  By: /s/ Donald C. Burke  
    Donald C. Burke,  
    Treasurer of  
    BlackRock Limited Duration Income Trust  
       
  Date: September 20, 2007  
       
    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/ Robert S. Kapito  
    Robert S. Kapito,  
    President (principal executive officer) of  
    BlackRock Limited Duration Income Trust  
       
  Date: September 20, 2007  
       
  By: /s/ Donald C. Burke  
    Donald C. Burke,  
    Treasurer (principal financial officer) of  
    BlackRock Limited Duration Income Trust  
       
  Date: September 20, 2007