blwfinal.htm - Generated by SEC Publisher for SEC Filing

UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
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 (BLW)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

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

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

Date of fiscal year end: 08/31/2009

Date of reporting period: 05/31/2009

Item 1 – Schedule of Investments

BlackRock Limited Duration Income Trust         
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
  Asset-Backed Securities      (000)  Value 
  Ford Credit Auto Owner Trust Series 2009-A       
  Class A3B, 2.844%, 5/15/13 (a)    USD  9,135  $ 9,336,930 
  Sterling Bank Trust Series 2004-2 Class Note,       
  2.081%, 3/30/30 (b)      19,000  1,312,161 
  Sterling Coofs Trust Series 1, 2.362%, 4/15/29 (b)    15,294  1,452,986 
  Total Asset-Backed Securities - 2.4%        12,102,077 
Industry  Corporate Bonds         
Air Freight & Logistics - 0.1%  Park-Ohio Industries, Inc., 8.375%, 11/15/14    905  399,331 
Airlines - 0.1%  American Airlines, Inc. Series 99-1, 7.324%,       
  4/15/11      520  512,200 
Auto Components - 0.1%  Allison Transmission, Inc., 11%, 11/01/15 (c)    135  105,300 
  Allison Transmission, Inc., 11.25%,         
  11/01/15 (c)(d)      435  291,450 
  Lear Corp., 8.75%, 12/01/16      525  136,500 
          533,250 
Automobiles - 0.1%  Ford Capital BV, 9.50%, 6/01/10      500  425,000 
Building Products - 0.1%  CPG International I, Inc., 10.50%, 7/01/13    750  393,750 
  Momentive Performance Materials, Inc., 11.50%,       
  12/01/16      890  209,150 
          602,900 
Capital Markets - 0.7%  E*Trade Financial Corp., 12.50%, 11/30/17 (c)(d)    2,656  1,759,766 
  Marsico Parent Co., LLC, 10.625%, 1/15/16 (c)    2,651  1,086,910 
  Marsico Parent Holdco, LLC, 12.50%,         
  7/15/16 (c)(d)      1,071  439,214 
  Marsico Parent Superholdco, LLC, 14.50%,       
  1/15/18 (c)(d)      733  300,456 
          3,586,346 
Chemicals - 0.9%  American Pacific Corp., 9%, 2/01/15      1,100  959,750 
  Ames True Temper, Inc., 5.131%, 1/15/12 (a)    2,085  1,761,825 
  Innophos, Inc., 8.875%, 8/15/14      2,225  1,996,937 
  Terra Capital, Inc. Series B, 7%, 2/01/17    15  14,025 
          4,732,537 
Commercial Services &  Casella Waste Systems, Inc., 9.75%, 2/01/13    2,000  1,660,000 
Supplies - 1.2%  DI Finance Series B, 9.50%, 2/15/13      2,326  2,262,035 
  Waste Services, Inc., 9.50%, 4/15/14      2,065  1,920,450 
          5,842,485 
Containers & Packaging - 0.8%  Berry Plastics Holding Corp., 4.504%, 9/15/14 (a)    510  334,050 
  Berry Plastics Holding Corp., 8.875%, 9/15/14    465  369,675 
  Crown Americas LLC, 7.75%, 11/15/15      885  862,875 
  Impress Holdings BV, 4.256%, 9/15/13 (a)(c)    1,370  1,181,625 
  Pregis Corp., 12.375%, 10/15/13      2,020  1,282,700 
          4,030,925 
Diversified Financial  Ford Motor Credit Co., 7.375%, 2/01/11    2,800  2,549,627 
Services - 1.4%  Ford Motor Credit Co. LLC, 3.889%, 1/13/12 (a)    565  446,350 
  Ford Motor Credit Co. LLC, 7.80%, 6/01/12    1,665  1,421,818 
  GMAC LLC, 6.875%, 8/28/12 (c)      1,731  1,497,315 

1

BlackRock Limited Duration Income Trust       
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Corporate Bonds    (000)  Value 
  Structured Asset Repackaged Trust, 1.602%,     
  1/21/10  USD  1,588  $ 1,412,976 
        7,328,086 
Diversified Telecommunication  Cincinnati Bell, Inc., 7.25%, 7/15/13    1,330  1,260,175 
Services - 3.2%  Deutsche Telekom International Finance BV,     
  8.50%, 6/15/10    5,000  5,295,850 
  Qwest Communications International, Inc.,     
  7.50%, 2/15/14    610  561,200 
  Qwest Communications International, Inc.     
  Series B, 7.50%, 2/15/14    2,985  2,746,200 
  Qwest Corp., 3.879%, 6/15/13 (a)    3,000  2,692,500 
  Wind Acquisition Finance SA, 10.75%,       
  12/01/15 (c)    1,500  1,575,000 
  Windstream Corp., 8.125%, 8/01/13    1,480  1,455,950 
  Windstream Corp., 8.625%, 8/01/16    990  972,675 
        16,559,550 
Electric Utilities - 0.1%  Edison Mission Energy, 7.50%, 6/15/13    345  290,662 
  Elwood Energy LLC, 8.159%, 7/05/26    141  114,374 
        405,036 
Electronic Equipment,  Sanmina-SCI Corp., 8.125%, 3/01/16    1,340  750,400 
Instruments & Components - 0.2%         
Energy Equipment &  Compagnie Generale de Geophysique-Veritas,     
Services - 0.1%  7.50%, 5/15/15    255  233,325 
  Compagnie Generale de Geophysique-Veritas,     
  7.75%, 5/15/17    420  369,600 
  North American Energy Partners, Inc., 8.75%,     
  12/01/11    140  116,900 
        719,825 
Food & Staples Retailing - 0.3%  Rite Aid Corp., 7.50%, 3/01/17    2,170  1,703,450 
Gas Utilities - 0.1%  Targa Resources, Inc., 8.50%, 11/01/13  725  518,375 
Health Care Equipment &  Biomet, Inc., 10%, 10/15/17    500  511,250 
Supplies - 1.1%  DJO Finance LLC, 10.875%, 11/15/14    6,420  5,264,400 
        5,775,650 
Health Care Providers &  Tenet Healthcare Corp., 9%, 5/01/15 (c)  812  828,240 
Services - 0.7%  Tenet Healthcare Corp., 10%, 5/01/18 (c)  332  346,940 
  Viant Holdings, Inc., 10.125%, 7/15/17 (c)  2,948  2,225,740 
        3,400,920 
Hotels, Restaurants &  American Real Estate Partners LP, 8.125%, 6/01/12  5,860  5,303,300 
Leisure - 1.8%  American Real Estate Partners LP, 7.125%, 2/15/13  1,480  1,265,400 
  Greektown Holdings, LLC, 10.75%, 12/01/13 (c)(e)(f)  1,344  94,080 
  Harrah's Operating Co., Inc., 10%, 12/15/15 (c)  720  489,600 
  Harrah's Operating Co., Inc., 10%, 12/15/18 (c)  3,231  2,156,692 
  Tropicana Entertainment LLC Series WI, 9.625%,     
  12/15/14 (e)(f)    375  1,875 
        9,310,947 
Household Durables - 0.0%  Berkline/BenchCraft, LLC, 4.50%, 11/03/12 (d)(e)(f)  200  - 

2

BlackRock Limited Duration Income Trust       
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Corporate Bonds    (000)  Value 
IT Services - 0.3%  iPayment, Inc., 9.75%, 5/15/14  USD  950  $ 515,375 
  iPayment Investors LP, 12.75%, 7/15/14 (c)(d)  4,473  1,118,396 
        1,633,771 
Independent Power Producers &  The AES Corp., 8.75%, 5/15/13 (c)  2,803  2,852,052 
Energy Traders - 0.9%  Calpine Construction Finance Co. LP, 8%,     
  6/01/16 (c)    1,250  1,189,062 
  NRG Energy, Inc., 7.25%, 2/01/14    210  201,075 
  NRG Energy, Inc., 7.375%, 2/01/16  475  447,094 
        4,689,283 
Industrial Conglomerates - 0.6%  Sequa Corp., 11.75%, 12/01/15 (c)  3,210  1,428,450 
  Sequa Corp., 13.50%, 12/01/15 (c)(d)  5,314  1,720,289 
        3,148,739 
Machinery - 0.8%  AGY Holding Corp., 11%, 11/15/14  1,700  1,215,500 
  Accuride Corp., 8.50%, 2/01/15    850  250,750 
  Sunstate Equipment Co. LLC, 10.50%, 4/01/13  3,125  2,250,000 
  Synventive Molding Solutions Sub-Series A,     
  14%, 1/14/11    702  280,867 
        3,997,117 
Marine - 0.1%  Navios Maritime Holdings, Inc., 9.50%, 12/15/14  676  517,140 
Media - 5.1%  Affinion Group, Inc., 10.125%, 10/15/13  2,825  2,655,500 
  CMP Susquehanna Corp., 4.753%, 5/15/14  194  3,880 
  Charter Communications Holdings II, LLC,     
  10.25%, 9/15/10 (e)(f)    1,155  1,143,450 
  Charter Communications Holdings II, LLC     
  Series B, 10.25%, 9/15/10 (e)(f)    765  749,700 
  Comcast Cable Communications LLC, 6.875%, 6/15/09  6,685  6,696,211 
  DIRECTV Holdings LLC, 8.375%, 3/15/13  500  503,750 
  EchoStar DBS Corp., 7%, 10/01/13  200  189,000 
  EchoStar DBS Corp., 7.125%, 2/01/16  200  184,000 
  Local Insight Regatta Holdings, Inc., 11%, 12/01/17  1,575  425,250 
  Network Communications, Inc., 10.75%, 12/01/13  1,520  304,000 
  Nielsen Finance LLC, 10%, 8/01/14  3,695  3,519,487 
  ProtoStar I Ltd., 18%, 10/15/12 (c)(e)(f)(g)  3,454  1,105,315 
  Rainbow National Services LLC, 8.75%,     
  9/01/12 (c)    925  935,406 
  Rainbow National Services LLC, 10.375%,     
  9/01/14 (c)    3,134  3,231,937 
  Salem Communications Corp., 7.75%, 12/15/10  2,000  600,000 
  TL Acquisitions, Inc., 10.50%, 1/15/15 (c)  4,965  3,872,700 
        26,119,586 
Metals & Mining - 0.2%  Freeport-McMoRan Copper & Gold, Inc., 4.995%,     
  4/01/15 (a)    1,225  1,102,500 
Multiline Retail - 0.0%  Saks, Inc., 7.50%, 12/01/13 (c)(g)    180  175,500 
Oil, Gas & Consumable  Berry Petroleum Co., 8.25%, 11/01/16  550  459,250 
Fuels - 1.8%  Chesapeake Energy Corp., 6.375%, 6/15/15  650  557,375 

3

BlackRock Limited Duration Income Trust       
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Corporate Bonds    (000)  Value 
  Compton Petroleum Finance Corp., 7.625%,     
  12/01/13  USD  700  $ 350,000 
  EXCO Resources, Inc., 7.25%, 1/15/11    495  443,025 
  Encore Acquisition Co., 6%, 7/15/15    250  206,250 
  OPTI Canada, Inc., 8.25%, 12/15/14    1,990  1,373,100 
  Overseas Shipholding Group, Inc., 8.75%, 12/01/13  1,650  1,534,500 
  Sabine Pass LNG LP, 7.50%, 11/30/16    1,515  1,227,150 
  SandRidge Energy, Inc., 4.833%, 4/01/14 (a)  1,500  1,185,463 
  SandRidge Energy, Inc., 8.625%, 4/01/15 (d)  650  554,125 
  Whiting Petroleum Corp., 7.25%, 5/01/12  75  69,938 
  Whiting Petroleum Corp., 7.25%, 5/01/13  1,390  1,271,850 
        9,232,026 
Paper & Forest Products - 0.2%  Domtar Corp., 7.875%, 10/15/11    140  124,775 
  NewPage Corp., 7.278%, 5/01/12 (a)    1,500  727,500 
  NewPage Corp., 10%, 5/01/12    635  355,600 
        1,207,875 
Professional Services - 0.1%  FTI Consulting, Inc., 7.75%, 10/01/16    350  343,875 
Real Estate Investment Trusts  Rouse Co. LP, 5.375%, 11/26/13 (e)(f)    2,000  1,245,000 
(REITs) - 0.2%         
Software - 0.0%  BMS Holdings, Inc., 9.224%, 2/15/12 (a)(c)(d)  543  65,352 
Specialty Retail - 1.9%  General Nutrition Centers, Inc., 6.404%, 3/15/14 (a)  2,250  1,856,250 
  General Nutrition Centers, Inc., 10.75%, 3/15/15  1,700  1,466,250 
  Group 1 Automotive, Inc., 8.25%, 8/15/13 (g)  5,000  4,125,000 
  Lazy Days' R.V. Center, Inc., 11.75%, 5/15/12 (e)(f)  1,454  87,240 
  Sonic Automotive, Inc. Series B, 8.625%, 8/15/13  3,135  1,959,375 
        9,494,115 
Textiles, Apparel & Luxury  Quiksilver, Inc., 6.875%, 4/15/15    575  382,375 
Goods - 0.1%         
Tobacco - 0.2%  Reynolds American, Inc., 7.625%, 6/01/16  1,000  981,587 
Wireless Telecommunication  Cricket Communications, Inc., 9.375%, 11/01/14  270  268,650 
Services - 1.9%  Cricket Communications, Inc., 7.75%, 5/15/16 (c)  2,250  2,174,062 
  Digicel Group Ltd., 8.875%, 1/15/15 (c)  1,120  896,000 
  Digicel Group Ltd., 9.125%, 1/15/15 (c)(d)  2,467  1,874,920 
  MetroPCS Wireless, Inc., 9.25%, 11/01/14  350  351,312 
  Nordic Telephone Co. Holdings ApS, 8.875%,     
  5/01/16 (c)    3,850  3,850,000 
        9,414,944 
  Total Corporate Bonds - 27.5%      140,887,998 
  Foreign Government Obligations       
  Peru Government International Bond,       
  8.375%, 5/03/16    4,871  5,616,263 
  Turkey Government International Bond, 7%,     
  9/26/16    5,093  5,143,930 
  Total Foreign Government Obligations - 2.1%    10,760,193 

4

BlackRock Limited Duration Income Trust         
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
  U.S. Government Agency Sponsored      Par   
  Mortgage-Backed Securities      (000)  Value 
                                                   Fannie Mae Guaranteed Pass-Through Certificates:
  5.00%, 6/15/24 (h)    USD  121,000  $ 125,121,502 
  5.50%, 12/01/28 - 11/01/33 (i)(j)      7,011  7,282,185 
  Total U.S. Government Agency Sponsored       
  Mortgage-Backed Securities - 25.9%        132,403,687 
Industry  Floating Rate Loan Interests         
Aerospace & Defense - 0.9%  Avio SpA Facility B2, 2.444% - 3.936%,         
  12/15/14      995  675,649 
  Avio SpA Facility C2, 3.069% - 4.561%,         
  12/14/15      1,000  678,750 
  Hawker Beechcraft Acquisition Co. LLC Letter of       
  Credit Facility Deposit, 3.22%, 3/26/14    267  153,196 
  Hawker Beechcraft Acquisition Co. LLC Term       
  Loan, 2.319% - 3.22%, 3/26/14      4,534  2,602,282 
  IAP Worldwide Services, Inc. Term Loan (First       
  Lien), 9.25%, 12/30/12      499  304,107 
          4,413,984 
Airlines - 0.2%  US Airways Group, Inc. Term Loan, 2.809%, 3/21/14    2,190  1,180,167 
Auto Components - 0.8%  Allison Transmission, Inc. Term Loan, 3.12% - 3.15%,       
  8/07/14      4,014  3,095,909 
  Dana Holding Corp. Term Advance,         
  7.25%, 1/31/15      888  419,692 
  Dayco Products LLC - (Mark IV Industries, Inc.)       
  Replacement Term B Loan, 8.06% - 8.75%,       
  6/21/11 (e)(f)      854  165,021 
  Dayco Products LLC - (Mark IV Industries, Inc.)       
  U.S. Term Loan, 2% - 8.50%, 5/01/10      92  64,804 
  Metaldyne Co. LLC DF Loan, 0.166% - 5.188%,       
  1/11/12 (e)      98  11,671 
  Metaldyne Co. LLC Initial Tranche B Term Loan,       
  6.188%, 1/13/14 (e)(f)      669  79,575 
          3,836,672 
Beverages - 0.1%  Culligan International Co. Loan (Second Lien),       
  5.694% - 6.561%, 4/24/13    EUR  1,500  376,400 
  Le-Nature's, Inc. Tranche B Term Loan, 10.25%,       
  3/01/11 (e)(f)    USD  1,000  100,000 
          476,400 
Building Products - 0.8%  Building Materials Corp. of America Term Loan       
  Advance, 3.063%, 2/22/14      2,592  2,186,310 
  Custom Building Products, Inc. Loan (Second       
  Lien), 10.75%, 4/20/12      1,500  927,500 
  Momentive Performance Materials (Blitz 06-103       
  GmbH) Tranche B-2 Term Loan, 3.191%,       
  12/04/13    EUR  1,000  965,680 
                                                   United Subcontractors, Inc. Tranche B Term Loan,
  6.43% - 6.80%, 12/27/12    USD  1,820  130,440 
          4,209,930 

5

BlackRock Limited Duration Income Trust         
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
Industry  Floating Rate Loan Interests      (000)  Value 
Capital Markets - 0.3%  Marsico Parent Co., LLC Term Loan,         
  4.625% - 7.50%, 12/15/14    USD  463  $ 220,143 
  Nuveen Investments, Inc. Term Loan,         
  3.313% - 4.232%, 11/13/14      1,492  1,065,867 
          1,286,010 
Chemicals - 3.6%  Ashland, Inc. Term Loan B, 7.65%, 5/13/14    1,000  998,750 
  Brenntag Holding GmbH & Co. KG Facility 3A       
  (Second Lien), 5.646%, 3/21/16      115  106,950 
  Brenntag Holding GmbH & Co. KG Facility 3B       
  (Second Lien), 5.501%, 7/17/15      500  320,000 
  Brenntag Holding GmbH & Co. KG Facility 3B       
  (Second Lien), 5.646%, 3/15/16    EUR  385  358,159 
  Brenntag Holding GmbH & Co. KG Facility B6A,       
  3.597%, 11/24/37      282  339,643 
  Brenntag Holding GmbH & Co. KG Facility B6B,       
  3.597%, 11/24/37      218  262,950 
  Cognis GmbH Facility A (French), 3.65%, 11/17/13    803  950,498 
  Cognis GmbH Facility B (French), 3.65%, 11/16/13    197  229,206 
                                             Edwards (Cayman Islands II) Ltd. Term Loan (First
  Lien), 2.32%, 5/31/14    USD  491  303,961 
  ElectricInvest Holding Co. Ltd. (Viridian Group       
  Plc) Junior Term Facility, 5.192%, 12/21/12  GBP  900  922,256 
  ElectricInvest Holding Co. Ltd. (Viridian Group       
  Plc) Junior Term Facility, 5.349%,         
  4/20/12    EUR  894  802,238 
  Huish Detergents Inc. Tranche B Term Loan,       
  2.07%, 4/26/14    USD  1,241  1,141,288 
  Ineos US Finance LLC Term A4 Facility, 7.001%,       
  12/14/12      923  598,557 
  Ineos US Finance LLC Term B2 Facility, 7.501%,       
  12/16/13      1,631  1,034,072 
  Ineos US Finance LLC Term C2 Facility, 8.001%,       
  12/16/14      1,631  1,034,072 
  Nalco Co. Term Loan B, 4.517%, 5/06/16    2,075  2,078,891 
  PQ Corp. (fka Niagara Acquisition, Inc.) Loan       
  (Second Lien), 7.54%, 7/30/15      3,250  1,635,832 
  PQ Corp. (fka Niagara Acquisition, Inc.) Original       
  Term Loan (First Lien), 4.29% - 4.47%, 7/31/14    3,970  2,997,350 
                                              Rockwood Specialties Group, Inc. Tranche E Term
  Loan, 2.069%, 7/30/12      945  881,213 
  Solutia Inc. Loan, 7.25%, 2/28/14      1,737  1,398,751 
          18,394,637 
Commercial Services &  ARAMARK Corp. Facility Letter of Credit, 4.063%,       
Supplies - 1.2%  1/26/14      185  167,877 
  ARAMARK Corp. U.S. Term Loan, 2.336%, 1/26/14    2,907  2,642,498 

6

BlackRock Limited Duration Income Trust       
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Floating Rate Loan Interests    (000)  Value 
                                                      EnviroSolutions Real Property Holdings, Inc. Initial
  Term Loan, 10.50%, 7/07/12  USD  504  $ 257,207 
  Kion Group GmbH (formerly Neggio Holdings 3     
  GmbH) Facility B, 2.319%, 12/29/14    250  105,469 
  Kion Group GmbH (formerly Neggio Holdings 3     
  GmbH) Facility C, 2.819%, 12/29/15    250  105,469 
  SIRVA Worldwide, Inc. Loan (Second Lien), 12%,     
  5/12/15    253  12,667 
                                                      Synagro Technologies, Inc. Term Loan (First Lien),
  2.32% - 2.34%, 4/02/14    2,722  2,028,108 
  West Corp. Term B-2 Loan, 2.691% - 2.789%,     
  10/24/13    883  762,757 
        6,082,052 
Communications Equipment -  Safenet, Inc. Term Loan (First Lien), 2.849%,     
0.3%  4/12/14    1,965  1,515,506 
Computers & Peripherals - 0.4%  Intergraph Corp. Initial Term Loan (First Lien),     
  2.664%, 5/29/14    1,431  1,309,213 
  Intergraph Corp. Second Lien Term Loan,     
  6.316% - 6.664%, 11/28/14    750  656,250 
        1,965,463 
Construction & Engineering - 0.1% Brand Energy & Infrastructure Services, Inc. (FR Brand     
  Acquisition Corp.) First Lien Term Loan B,     
  3.188% - 3.50%, 2/07/14    242  188,875 
  Brand Energy & Infrastructure Services, Inc. (FR     
  Brand Acquisition Corp.) Second Lien Term Loan,     
  6.313% - 6.688%, 2/07/15    1,000  435,000 
        623,875 
Containers & Packaging - 1.3%  Atlantis Plastic Films, Inc. Term Loan (Second     
  Lien), 15%, 3/22/12 (e)(f)    250  - 
  Graphic Packaging International, Inc. Incremental Term     
  Loan, 3.07% - 3.958%, 5/16/14    2,340  2,169,904 
  Modelo 3 S.a.r.l. (Mivisa) Tranche B2 Term     
  Facility, 5.452%, 6/03/15  EUR  1,000  1,121,541 
  Smurfit-Stone Container Enterprise Inc. Canadian     
  Revolving Facility (CAM Exchange),       
  2.88%, 11/01/10  USD  152  127,215 
  Smurfit-Stone Container Enterprise, Inc. Deposit     
  Funded LC Facility (CAM Exchange), 4.50%,     
  11/01/10    92  75,235 
  Smurfit-Stone Container Enterprise, Inc.     
  Tranche B (CAM Exchange), 2.63%, 11/01/11  105  85,619 
  Smurfit-Stone Container Enterprise, Inc.     
  Tranche C, 2.69%, 11/01/11    198  164,147 
  Smurfit-Stone Container Enterprise, Inc.     
  Tranche C-1 (CAM Exchange), 2.69%, 11/01/11  60  49,629 

7

BlackRock Limited Duration Income Trust         
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  Smurfit-Stone Container Enterprise Inc. U.S.       
  Revolving Facility, 2.88% - 4.50%, 11/01/09  USD  459  $ 383,622 
  Smurfit-Stone Container Enterprise, Inc. U.S.       
  Revolving Loan (DIP) RC, 1%, 7/28/10      100  93,789 
  Smurfit-Stone Container Inc. U.S. Term Loan       
  (DIP), 10%, 7/28/10      1,345  1,357,734 
  Solo Cup Co. Term B1 Loan, 4.16% - 4.692%,       
  2/27/11      929  887,281 
          6,515,716 
Distributors - 0.1%  Keystone Automotive Operations, Inc. Loan,       
  3.835% - 5.75%, 1/12/12      1,423  640,222 
Diversified Consumer  Coinmach Corp. Term Loan, 3.31% - 3.76%,       
Services - 0.7%  11/14/14      4,702  3,573,810 
Diversified Financial  J.G. Wentworth, LLC Loan (First Lien), 3.47%,       
Services - 0.2%  4/04/14 (e)(f)      4,400  381,335 
  Professional Service Industries, Inc. Term Loan       
  (First Lien), 3.07%, 10/31/12      620  310,223 
  Protostar Working Capital Term Loan, 13%,       
  9/30/10 (e)(f)      407  398,860 
          1,090,418 
Diversified Telecommunication  BCM Ireland Holdings Ltd. (Eircom)         
Services - 1.4%  Facility B, 2.816%, 8/14/14    EUR  1,970  1,994,908 
  BCM Ireland Holdings Ltd. (Eircom) Facility C,       
  3.066%, 8/14/13      1,970  1,995,130 
                                                  Hawaiian Telcom Communications, Inc. Tranche C
  Term Loan, 4.75%, 5/30/14    USD  1,905  962,275 
  PAETEC Holding Corp. Incremental Term Loan,       
  2.819%, 2/28/13      1,000  905,000 
  Time Warner Telecom Holdings Inc. Term Loan B       
  Loan, 2.32%, 1/07/13      1,058  976,382 
  Wind Telecomunicazioni SpA A1 Term Loan       
  Facility, 2.349% - 2.406%, 9/22/12    EUR  424  536,280 
          7,369,975 
Electric Utilities - 0.2%  Astoria Generating Co. Acquisitions, LLC Term       
  Loan C, 4.06%, 8/23/13    USD  500  433,125 
  TPF Generation Holdings, LLC First Lien Term       
  Loan, 2.319%, 12/15/13      441  407,029 
  TPF Generation Holdings, LLC Synthetic Letter of       
  Credit Deposit (First Lien), 3.22%, 12/15/13    151  138,822 
                                                  TPF Generation Holdings, LLC Synthetic Revolving
  Deposit, 3.22%, 12/15/11      47  43,518 
          1,022,494 
Electrical Equipment - 0.4%  Electrical Components International Holdings Co.       
  (ECI) Term Loan (Second Lien), 11.50%, 5/01/14    500  50,000 
  Generac Acquisition Corp. First Lien Term Loan,       
  2.911%, 11/10/13      1,464  1,005,734 

8

BlackRock Limited Duration Income Trust       
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Floating Rate Loan Interests    (000)  Value 
  Sensus Metering Systems New Term B-1,       
  2.613% - 2.716%, 12/17/10  USD  1,037  $ 933,261 
        1,988,995 
Electronic Equipment,  Flextronics International Ltd. A Closing Date Loan,     
Instruments & Components - 0.9%  2.57% - 3.458%, 10/01/14    3,830  3,067,441 
  Flextronics International Ltd. A-1-A Delay Draw     
  Term Loan, 3.381%, 10/01/12    1,100  881,449 
  Matinvest 2 SAS/Butterfly Wendel US, Inc.     
  (Deutsche Connector) B-2 Facility, 2.661%,     
  6/22/14    457  281,915 
  Matinvest 2 SAS/Butterfly Wendel US, Inc.     
  (Deutsche Connector) C-2 Facility, 2.661%,     
  6/22/15    738  455,963 
  Matinvest 2 SAS, Inc. (Deutsche Connector) B-2 Facility,     
  3.161%, 6/22/14    34  21,038 
  Matinvest 2 SAS, Inc. (Deutsche Connector) C-2 Facility,     
  3.239%, 6/22/15    113  69,653 
        4,777,459 
Energy Equipment &  Dresser, Inc. Term B Loan, 3.104%, 5/04/14  2,082  1,805,711 
Services - 0.7%  MEG Energy Corp. Initial Term Loan, 3.22%,     
  4/03/13    485  417,706 
  Trinidad USA Partnership LLP U.S. Term Loan,     
  2.918%, 5/01/11    1,454  1,177,537 
        3,400,954 
Food & Staples  AB Acquisitions UK Topco 2 Ltd. (fka Alliance Boots)     
Retailing - 1.2%  Facility B1, 3.60%, 7/09/15  GBP  4,000  4,936,615 
  DSW Holdings Inc., Term Loan, 4.335%,       
  10/29/12  USD  500  342,500 
WM. Bolthouse Farms, Inc. Term Loan (First Lien),
  2.625%, 12/16/12    923  848,330 
        6,127,445 
Food Products - 1.3%  Dole Food Co., Inc. Credit-Linked Deposit, 8%,     
  4/12/13    280  277,504 
Dole Food Co., Inc. Tranche B Term Loan, 7.25% -
  8%, 4/12/13    490  486,356 
  Michael Foods Inc. Term Loan B, 6.50%, 4/24/14  1,500  1,503,750 
  Solvest, Ltd. (Dole) Tranche C Term Loan,     
  7.25% - 8%, 4/12/13    1,826  1,812,207 
  Sturm Foods, Inc. Initial Term Loan Second Lien,     
  7.125%, 7/31/14    500  197,500 
Wm. Wrigley Jr. Co. Tranche B Term Loan, 6.50%,
  10/06/14    2,500  2,503,375 
        6,780,692 
Health Care Equipment &  Biomet, Inc. Dollar Term Loan, 3.313% - 4.222%,     
Supplies - 0.7%  3/25/15    1,683  1,580,078 

9

BlackRock Limited Duration Income Trust         
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  DJO Finance LLC (ReAble Therapeutics Finance       
  LLC) Term Loan, 3.319% - 4.22%, 5/20/14  USD  2,469  $ 2,179,906 
          3,759,984 
Health Care Providers &  CCS Medical, Inc. (Chronic Care) Term Loan       
Services - 2.9%  (First Lien), 4.97%, 9/30/12      578  263,886 
  CHS/Community Health Systems, Inc. Delayed       
  Draw Term Loan, 2.569%, 7/25/14      410  363,843 
  CHS/Community Health Systems, Inc. Funded       
  Term Loan, 2.569% - 2.924%, 7/25/14      8,041  7,134,810 
  Catalent Pharma Solutions, Inc. (fka Cardinal       
  Health 409, Inc.) Term Loan, 3.191%, 11/19/37  EUR  1,965  2,000,113 
  DaVita, Inc. Tranche B-1 Term Loan B, 1.82% -       
  2.74%, 10/05/12    USD  750  700,430 
  HCA Inc. Tranche A-1 Term Loan, 2.97%, 11/17/12    2,067  1,849,629 
  HealthSouth Corp. Term Loan, 2.82% - 2.85%,       
  3/10/13      2,318  2,128,333 
  Surgical Care Affiliates, LLC Term Loan, 3.22%,       
  12/29/14      722  612,234 
          15,053,278 
Health Care Technology - 0.2%  Sunquest Information Systems, Inc. (Misys Hospital       
  Systems, Inc.) Term Loan, 3.57% - 4.29%,       
  10/13/14      1,478  1,216,475 
Hotels, Restaurants &  BLB Worldwide Holdings, Inc. (Wembley, Inc.)       
Leisure - 1.9%  First Priority Term Loan, 4.75%, 7/18/11    1,989  626,537 
CCM Merger Inc. (Motor City Casino) Term B Loan,
  8.50%, 7/13/12      1,514  1,146,934 
  Green Valley Ranch Gaming, LLC First Lien Loan,       
  3.149% - 4%, 2/16/14      472  255,961 
  Green Valley Ranch Gaming, LLC Second Lien       
  Term Loan, 3.599%, 8/16/14      1,500  150,000 
  Harrah's Operating Co., Inc. Term B-1 Loan,       
  3.319% - 4.092%, 1/28/15      550  422,570 
  Harrah's Operating Co., Inc. Term B-2 Loan,       
  3.319% - 4.092%, 1/28/15      693  531,108 
  Harrah's Operating Co., Inc. Term B-3 Loan,       
  3.286% - 4.092%, 1/28/15      804  617,246 
OSI Restaurant Partners, LLC Pre-Funded RC Loan,
  1.14%, 6/14/13      32  23,604 
  Penn National Gaming, Inc. Term Loan B,       
  2.06% - 2.72%, 10/03/12      4,015  3,775,230 
QCE, LLC (Quiznos) Term Loan (First Lien), 3.50%,
  5/05/13      1,945  1,240,910 
  Travelport LLC (fka Travelport Inc.) Loan, 7.82%,       
  3/27/12      4,545  1,158,921 
          9,949,021 

10

BlackRock Limited Duration Income Trust         
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
Industry  Floating Rate Loan Interests      (000)         Value 
Household Durables - 0.8%  Berkline/Benchcraft, LLC Term Loan, 4.069%,       
  11/03/11 (e)(f)    USD  95  $ 4,735 
  Jarden Corp. Term Loan B3, 3.72%, 1/24/12    818  784,091 
  Simmons Bedding Co. Tranche D Term Loan,       
  10.50%, 12/19/11      3,250  2,736,500 
  Yankee Candle Co., Inc. Term Loan,         
  2.32% - 3.22%, 2/06/14      947  806,643 
          4,331,969 
Household Products - 0.2%  Central Garden & Pet Co. Tranche B Term Loan,       
  1.82%, 9/30/12      993  809,654 
IT Services - 2.0%  Amadeus IT Group SA/Amadeus Verwaltungs       
  GmbH WAM Acquisition Term B3 Facility, 2.932%,       
  6/30/13    EUR  307  325,844 
  Amadeus IT Group SA/Amadeus Verwaltungs       
  GmbH WAM Acquisition Term B4 Facility, 2.932%,       
  6/30/13      184  194,571 
  Amadeus IT Group SA/Amadeus Verwaltungs       
  GmbH WAM Acquisition Term C3 Facility, 3.432%,       
  6/30/14      307  325,844 
  Amadeus IT Group SA/Amadeus Verwaltungs       
  GmbH WAM Acquisition Term C4 Facility, 3.432%,       
  6/30/14      184  194,544 
  Audio Visual Services Group, Inc. Loan (Second       
  Lien), 7.72%, 8/28/14    USD  1,020  64,593 
  Ceridian Corp. U.S. Term Loan, 3.316%, 11/09/14    3,460  2,547,554 
  First Data Corp. Initial Tranche B-1 Term Loan,       
  3.059% - 3.069%, 9/24/14      3,673  2,692,737 
  First Data Corp. Initial Tranche B-2 Term Loan,       
  3.059% - 3.069%, 9/24/14      1,241  909,481 
  First Data Corp. Initial Tranche B-3 Term Loan,       
  3.059% - 3.069%, 9/24/14      564  414,017 
  RedPrairie Corp. Term Loan B, 3.688% - 5.25%,       
  7/20/12      607  436,794 
  SunGard Data Systems Inc. (Solar Capital Corp.)       
  Incremental Term Loan, 6.75%, 2/28/14    1,200  1,179,000 
  SunGard Data Systems Inc. (Solar Capital Corp.)       
  New U.S. Term Loan, 2.132% - 2.724%, 2/28/14    353  320,343 
  Verifone, Inc. Term B Loan, 3.07%, 10/31/13    915  823,500 
          10,428,822 
Independent Power Producers  Texas Competitive Electric Holdings Co., LLC       
& Energy Traders - 1.5%  (TXU) Initial Tranche B-2 Term Loan, 3.819%,       
  10/10/14      4,199  2,890,796 
  Texas Competitive Electric Holdings Co., LLC       
  (TXU) Initial Tranche B-3 Term Loan, 3.819% -       
  3.882%, 10/10/14      7,251  4,956,072 
          7,846,868 

11

BlackRock Limited Duration Income Trust         
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
Industry  Floating Rate Loan Interests      (000)  Value 
Insurance - 0.1%  Conseco, Inc. Term Loan, 7.50%, 10/10/13  USD  730  $ 430,819 
Leisure Equipment &  24 Hour Fitness Worldwide, Inc. Tranche B Term       
Products - 0.1%  Loan, 2.82% - 3.67%, 6/08/12      970  659,600 
Life Sciences Tools &  Life Technologies Corp. Term B Facility, 5.25%,       
Services - 0.4%  11/20/15      2,239  2,232,873 
Machinery - 1.5%  Blount, Inc. Term Loan B, 2.07% - 2.094%,       
  8/09/10      653  597,356 
  LN Acquisition Corp. (Lincoln Industrial) Initial       
  Term Loan (Second Lien), 6.10%, 1/09/15    1,500  1,095,000 
  NACCO Materials Handling Group, Inc. Loan,       
  2.319% - 3.413%, 3/21/13      486  194,500 
  Navistar International Corp. Revolving Credit-       
  Linked Deposit, 0.166% - 3.569%, 1/19/12    1,253  1,045,191 
  Navistar International Corp. Term Advance,       
  3.569%, 1/19/12      3,447  2,874,275 
  Oshkosh Truck Corp. Term B Loan, 7.15% - 7.32%,       
  12/06/13      1,818  1,556,893 
  Standard Steel, LLC Delayed Draw Term Loan,       
  8.25%, 7/02/12      75  40,998 
  Standard Steel, LLC Initial Term Loan, 9%,       
  7/02/12      370  203,418 
          7,607,631 
Marine - 0.2%  Delphi Acquisition Holding I BV (fka Dockwise)       
  Facility B2, 3.22%, 1/12/15      990  625,538 
  Delphi Acquisition Holding I BV (fka Dockwise)       
  Facility C2, 4.095%, 1/11/16      990  625,538 
          1,251,076 
Media - 11.8%  Acosta, Inc. Term Loan, 2.57%, 7/28/13    973  875,250 
  Affinion Group Holdings, Inc. Loan, 9.273%,       
  3/01/12      1,000  650,000 
  AlixPartners, LLP Tranche C Term Loan,       
  2.35% - 3.14%, 10/12/13      1,446  1,366,507 
  Alpha Topco Ltd. (Formula One) Facility B1,       
  2.694%, 12/31/13      840  588,150 
  Alpha Topco Ltd. (Formula One) Facility B2,       
  2.694%, 12/31/13      589  412,500 
  Alpha Topco Ltd. (Formula One) Facility D,       
  5.311%, 6/30/14      1,000  480,000 
  Atlantic Broadband Finance, LLC Tranche B-2       
  Term Loan, 3.47%, 6/30/13      973  925,478 
  CSC Holdings Inc. (Cablevision) Incremental B       
  Term Loan, 2.094% - 2.25%, 3/29/13      2,888  2,706,292 
  Catalina Marketing Corp. Initial Term Loan,       
  3.395%, 10/01/14      1,077  977,786 

12

BlackRock Limited Duration Income Trust       
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Floating Rate Loan Interests    (000)  Value 
  Cengage Learning Acquisitions, Inc. (Thomson     
  Learning) Tranche 1 Incremental Term Loan,     
  7.50%, 7/03/14  USD  3,722  $ 3,567,417 
                                   Cequel Communications, LLC Term Loan, 2.349% -
  2.401%, 11/05/13    7,360  6,634,132 
  Charter Communications Operating, LLC New     
  Term Loan, 6.25%, 3/06/14    3,290  2,788,339 
  Charter Communications Term Loan B1, 6.028%,     
  3/25/14    750  728,125 
  Clarke American Corp. Tranche B Term Loan,     
  2.819% - 3.72%, 6/30/14    3,375  2,601,858 
  Discovery Communications Holding, LLC Term B     
  Loan, 3.22%, 5/14/14    726  677,925 
                                   FoxCo Acquisition, LLC Term Loan, 6.50% - 7.25%,
  7/14/15    900  569,353 
  Gray Television, Inc. Term Loan B, 3% - 3.92%,     
  12/31/14    729  391,224 
                                   HIT Entertainment, Inc. Term Loan (Second Lien),
  6.51%, 2/26/13    1,000  250,000 
  HMH Publishing Co. Ltd. Mezzanine, 10.16%,     
  11/14/14    9,184  1,836,712 
  Hanley-Wood, LLC (FSC Acquisition) Term Loan,     
  2.563% - 2.599%, 3/08/14    1,479  526,740 
  Insight Midwest Holdings, LLC B Term Loan,     
  2.41%, 4/07/14    1,550  1,429,229 
  Intelsat Corp. (fka PanAmSat Corp.) Term B-2-A     
  Term Loan, 2.914%, 1/03/14    589  537,301 
  Intelsat Corp. (fka PanAmSat Corp.) Term B-2-B     
  Term Loan, 2.914%, 1/03/14    589  537,138 
  Intelsat Corp. (fka PanAmSat Corp.) Term B-2-C     
  Term Loan, 2.914%, 1/03/14    589  537,138 
  Knology, Inc. Term Loan, 2.57%, 6/30/12    484  425,947 
  Lamar Advertising Co. Term Loan B, 5.50%,     
  9/30/12    1,240  1,221,400 
  Lavena Holding 3 GmbH (Prosiebensat.1 Media     
  AG) Facility B1, 4.589%, 6/30/15  EUR  337  111,759 
  Lavena Holding 3 GmbH (Prosiebensat.1 Media     
  AG) Facility C1, 4.839%, 6/30/16    337  111,759 
  Lavena Holding 3 GmbH (Prosiebensat.1 Media     
  AG) Facility D, 5.964%, 12/28/16    904  51,135 
  MCC Iowa LLC (Mediacom Broadband Group)     
  Tranche D-1 Term Loan, 2.04%, 1/31/15  USD  1,705  1,552,403 
  MCNA Cable Holdings LLC (OneLink       
  Communications) Loan (PIK Facility), 8.31%,     
  3/01/13 (d)    1,855  370,926 

13

BlackRock Limited Duration Income Trust         
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
Industry  Floating Rate Loan Interests      (000)  Value 
  Mediacom Broadband (Term Loan E), 2.04%,       
  11/30/15    USD  450  $ 447,188 
  Metro-Goldwyn-Mayer Inc. Tranche B Term Loan,       
  3.569%, 4/09/12      2,764  1,578,085 
  Mission Broadcasting, Inc. Term B Loan, 2.97%,       
  10/01/12      1,776  1,190,124 
                                           Multicultural Radio Broadcasting, Inc. Term Loan,
  3.164%, 12/18/12      327  207,645 
  NTL Cable Plc Term Loan, 3.889%, 11/19/37  GBP  1,101  1,598,407 
  NV Broadcasting, LLC Term Loan (First Lien),       
  5.25%, 11/01/13 (e)    USD  821  205,367 
  Newsday, LLC Fixed Rate Term Loan, 9.75%,       
  8/01/13      1,500  1,496,250 
  Nexstar Broadcasting, Inc. Term B Loan, 2.60% -       
  2.79%, 10/01/12      1,878  1,258,132 
  Nielsen Finance LLC Dollar Term Loan, 2.382%,       
  8/09/13      4,208  3,705,416 
  Parkin Broadcasting, LLC Term Loan, 5.25%,       
  11/01/13      169  42,127 
  Penton Media, Inc. Loan (Second Lien), 6.039%,       
  2/01/14      1,000  96,250 
  Penton Media, Inc. Term Loan (First Lien),       
  2.569% - 3.289%, 2/01/13      1,103  650,475 
  Puerto Rico Cable Acquisition Co. Inc. (D/B/A       
  Choice TV) Term Loan (Second Lien), 7.875%,       
  2/15/12      692  346,154 
                                           Sunshine Acquisition Ltd. (aka HIT Entertainment)
  Term Facility, 3.26%, 7/31/14      1,268  672,056 
  TWCC Holding Corp. Term Loan, 7.25%, 9/14/15    1,499  1,490,939 
                                            Telecommunications Management, LLC Multi-Draw
  Term Loan, 3.819%, 6/30/13      233  156,032 
  Telecommunications Management, LLC Term       
  Loan, 3.819%, 6/30/13      924  618,996 
  UPC Financing Partnership Facility M, 2.943%,       
  11/19/37    EUR  3,013  3,649,548 
                                            Virgin Media Investment Holdings Ltd. (fka NTL) C
  Facility, 4.192%, 7/17/13    GBP  2,000  2,641,021 
                                           Wallace Theater Corp. (Hollywood Theaters) First
  Lien Term Loan, 5.50%, 7/31/09    USD  400  320,000 
  Yell Group Plc Facility B2, 3.941%, 4/30/11  EUR  1,500  1,387,788 
          60,197,923 
Metals & Mining - 0.1%  Essar Steel Algoma, Inc. (fka Algoma Steel, Inc.)       
  Term Loan, 2.82%, 6/20/13    USD  496  300,208 

14

BlackRock Limited Duration Income Trust       
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Floating Rate Loan Interests    (000)  Value 
                                                     Euramax International Holdings BV European Laon
  Second Lien), 13%, 6/29/13  USD  83  $ 2,499 
  Euramax International, Inc. Domestic Loan     
  (Second Lien), 13%, 6/29/13    168  5,038 
        307,745 
Multi-Utilities - 0.3%  FirstLight Power Resources, Inc. (fka NE Energy,     
  Inc.) First Lien Term Loan B, 3.75%, 11/01/13  1,230  1,100,212 
  FirstLight Power Resources, Inc. (fka NE Energy,     
  Inc.) Synthetic Letter of Credit, 3.75%, 11/01/13  159  141,758 
  Mach Gen, LLC Synthetic Letter of Credit Loan     
  (First Lien), 3.232%, 2/22/13    69  58,177 
        1,300,147 
Oil, Gas & Consumable  Big West Oil, LLC Delayed Advance Loan, 6.50%,     
Fuels - 1.3%  5/15/14    1,117  877,163 
  Big West Oil, LLC Initial Advance Loan, 6.50%,     
  5/15/14    670  526,025 
  Coffeyville Resources, LLC Funded Letter of     
  Credit, 8.75%, 12/28/10    243  215,676 
  Coffeyville Resources, LLC Tranche D Term Loan,     
  8.75%, 12/30/13    781  692,908 
  Drummond Co., Inc. Term Advance, 1.563%,     
  2/14/11    1,200  1,164,000 
  Niska Gas Storage Canada ULC Canadian Term     
  Loan B, 2.099%, 5/12/13    452  419,557 
  Niska Gas Storage US, LLC U.S. Term B Loan,     
  2.099%, 5/12/13    47  44,093 
  Niska Gas Storage US, LLC Wild Goose Acquisition     
  Draw-U.S. Term B, 2.085%, 5/12/13    32  29,868 
  Turbo Beta Ltd. Dollar Facility, 14.50%, 3/15/18  3,068  2,454,022 
        6,423,312 
Paper & Forest Products - 1.6%  Georgia-Pacific LLC Additional Term B Loan,     
  2.319% - 3.293%, 12/20/12    2,203  2,041,429 
                                                     Georgia-Pacific LLC Term B Loan, 2.319% - 3.293%,
  12/20/12    5,248  4,863,197 
  NewPage Corp. Term Loan, 4.063% - 5%, 12/22/14  1,697  1,364,569 
  Verso Paper Finance Holdings LLC Loan, 7.278% -     
  8.028%, 2/01/13    589  29,445 
        8,298,640 
Personal Products - 0.3%  American Safety Razor Co., LLC Loan (Second     
  Lien), 6.57%, 1/30/14    2,500  1,775,000 
Real Estate Management &  Enclave Term Loan B, 6.14%, 3/01/12    3,000  450,000 
Development - 0.2%  Georgian Towers Term Loan, 6.14%, 3/01/12  3,000  315,087 
  Pivotal Promontory, LLC Second Lien Term Loan,     
  14.75%, 8/31/11 (e)    750  37,500 
        802,587 

15

BlackRock Limited Duration Income Trust       
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Floating Rate Loan Interests    (000)  Value 
Road & Rail - 0.3%  RailAmerica, Inc. Canadian Term Loan, 5.20%,     
  8/14/09                               USD  91  $ 87,096 
  RailAmerica, Inc. U.S. Term Loan, 5.20%, 8/14/09  1,409  1,345,404 
        1,432,500 
Software - 0.1%  Bankruptcy Management Solutions, Inc. First Lien Term     
  Loan, 4.32%, 7/31/12    945  500,982 
Specialty Retail - 0.6%  Adesa, Inc. (KAR Holdings, Inc.) Initial Term Loan,     
  2.57% - 3.47%, 10/20/13    1,250  1,070,312 
  Burlington Coat Factory Warehouse Corp. Term     
  Loan, 2.57%, 5/28/13    585  405,607 
  Eye Care Centers of America, Inc. Term Loan,     
  2.82% - 3.74%, 3/01/12    525  461,565 
  OSH Properties LLC (Orchard Supply) - B - Note     
  (Participation), 2.795%, 12/21/13    1,500  975,000 
        2,912,484 
Textiles, Apparel & Luxury  Hanesbrands Inc. Term B Loan, 5.085% - 5.842%,     
Goods - 0.2%  9/05/13    872  852,029 
  St. John Knits International, Inc. Term Loan, 9%,     
  3/23/12    631  409,930 
        1,261,959 
Trading Companies &  Beacon Sales Acquisition, Inc. Term B Loan,     
Distributors - 0.2%  2.313% - 3.208%, 9/30/13    1,194  1,020,656 
Transportation Infrastructure -  Optasite Towers LLC Loan, 1.994%, 11/01/10  1,490  1,325,949 
0.3%         
Wireless Telecommunication  Cellular South, Inc. Delayed Draw Term Loan,     
Services - 1.0%  2.069%, 5/29/14    500  468,750 
  Cellular South, Inc. Term Loan, 2.069% - 4%,  1,474  1,381,641 
  5/29/14       
                                                                     Cricket Communications, Inc. (aka Leap Wireless)
  Term B Loan, 5.75%, 6/16/13    2,140  2,149,090 
  International Finance Ltd., Tranche A, 3.75%,     
  3/01/12    1,150  1,043,625 
        5,043,106 
  Total Floating Rate Loan Interests - 47.9%    245,453,936 
  U.S. Government Obligations       
  Fannie Mae, 7.25%, 1/15/10    17,000  17,702,440 
  U.S. Treasury Notes, 3.375%, 9/15/09    3,425  3,455,904 
  U.S. Treasury Notes, 4.25%, 8/15/15    1,815  1,972,537 
  Total U.S. Government Obligations - 4.5%    23,130,881 
  Common Stocks    Shares   
Commercial Services &  Sirva       
Supplies - 0.0%      1,109  5,545 
  Total Common Stocks - 0.0%      5,545 

16

BlackRock Limited Duration Income Trust         
Schedule of Investments May 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
  Preferred Stocks      Shares           Value 
Capital Markets - 0.0%  Marsico Parent Superholdco, LLC, 16.75% (c)    177  $ 49,560 
Media - 0.0%  CMP Susquemanna Radio Holdings Corp.,       
  5.50% (a)(c)      45,243  - 
  Total Preferred Stocks - 0.0%        49,560 
Industry  Warrants (k)         
Machinery - 0.0%  Synventive Molding Solutions (expires 1/15/13)    1  - 
Media - 0.0%  CMP Susquemanna Radio Holdings Corp.       
  (expires 3/26/19) (c)      51,701  1 
  Total Warrants - 0.0%        1 
        Beneficial   
        Interest   
  Other Interests (l)      (000)   
Health Care Providers &  Critical Care Systems International, Inc.  USD  8  1,525 
Services - 0.0%           
Household Durables - 0.0%  Berkline/Benchcraft Equity LLC      3  - 
  Total Other Interests - 0.0%        1,525 
  Total Long-Term Investments         
  (Cost - $691,659,936) - 110.3%        564,795,403 
  Short-Term Securities      Shares   
  BlackRock Liquidity Funds, TempFund,       
  0.535% (m)(n)      69,690,000  69,690,000 
  Total Short-Term Securities         
  (Cost - $69,690,000) - 13.6%        69,690,000 
  Options Purchased      Contracts   
Over-the-Counter Call Options  Marsico Parent Superholdco LLC, expiring December     
  2009 at USD942.86, Broker Goldman Sachs & Co.    46  73,600 
  Total Options Purchased         
  (Cost - $44,978) - 0.0%        73,600 
  Total Investments         
  (Cost - $761,394,914*) - 123.9%        634,559,003 
  Liabilities in Excess of Other Assets - (23.9)%      (122,305,161) 
  Net Assets - 100.0%        $ 512,253,842 

* The cost and unrealized appreciation (depreciation) of investments as of May 31, 2009, as

computed for federal income tax purposes, were as follows:

Aggregate cost  $ 761,463,322 
Gross unrealized appreciation  $ 4,929,624 
Gross unrealized depreciation  (131,833,943) 
Net unrealized depreciation  $ (126,904,319) 

(a) Variable rate security. Rate shown is as of report date.
(b) Represents the interest only portion of a mortgage-backed security and has either a nominal or a notional amount of
principal.

(c) Security 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.

(d) Represents a payment-in-kind security which may pay interest/dividends in additional par/shares.
(e) Issuer filed for bankruptcy and/or is in default of interest payments.
(f) Non-income producing security.
(g) Convertible security.

17

BlackRock Limited Duration Income Trust

Schedule of Investments May 31, 2009 (Unaudited)

(h) Represents or includes a "to-be-announced" transaction. The Trust has committed to
purchasing securities for which all specific information is not available at this time.

  Market  Unrealized 
Counterparty  Value  Appreciation 
Barclays Capital Plc  $ 125,121,502  $ 151,190 

(i) All or a portion of security has been pledged as collateral in connection with open swap contracts.
(j) All or a portion of security has been pledged as collateral for futures.
(k) 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.

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

(m) Represents the current yield as of report date.
(n) 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  69,690,000  $ 99,787 

• 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 ratings group indexes, and/or as defined by
Trust management. This definition may not apply for purposes of this report, which may combine industry sub-
classifications for reporting ease.

• Financial futures contracts purchased as of May 31, 2009 were as follows:

        Expiration    Face  Unrealized 
   Contracts    Issue  Date    Value  Depreciation 
      53  5-Year U.S. Treasury Bond  September 2009  $ 6,141,208  $ (21,364) 
• Foreign currency exchange contracts as of May 31, 2009 were as follows:       
          Settlement   Unrealized 
   Currency Purchased    Currency Sold  Counterparty  Date Depreciation 
   USD  7,987,080  GBP  5,689,500  UBS AG  6/10/09  $ (1,208,389) 
   USD  18,144,564  EUR  13,322,000  Citibank NA  7/15/09  (681,721) 
   Total              $ (1,890,110) 

• Credit default swaps on traded indexes - buy protection outstanding as of May 31, 2009 were as follows:

  Pay      Notional   
  Fixed        Amount  Unrealized 
Issuer  Rate  Counterparty  Expiration    (000)  Depreciation 
LCDX Index  5.00%  Credit Suisse         
    International  June 2014  USD           1,000  $ (13,531) 

• Currency Abbreviations: 
   EUR Euro 
   GBP British Pound 
   USD US Dollar 

18

BlackRock Limited Duration Income Trust

Schedule of Investments May 31, 2009 (Unaudited)

• Effective September 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 May 31, 2009 in determining the fair
valuation of the Trust's investments:

Valuation  Investments in    Other Financial   
Inputs  Securities    Instruments*   
  Assets  Assets      Liabilities 
Level 1  $ 69,690,000   -  $ (21,364) 
Level 2  466,446,336  $ 73,600    (1,903,641) 
Level 3  98,349,067   -      - 
Total  $ 634,485,403  $ 73,600  $ (1,925,005) 

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

The following is a reconciliation of investments for unobservable inputs (Level 3)   
used in determining fair value:     
  Investments in
  Securities
Balance, as of August 31, 2008  $ 27,082,546 
Realized loss    (8,636,430) 
Change in unrealized appreciation (depreciation)    5,338,580 
Net purchases (sales)    (9,308,916) 
Net transfers in Level 3    83,873,287 
Balance, as of May 31, 2009  $ 98,349,067 

19

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 Limited Duration Income Trust

By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer of
BlackRock Limited Duration Income Trust

Date: July 15, 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/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock Limited Duration Income Trust

Date: July 15, 2009

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock Limited Duration Income Trust

Date: July 15, 2009