-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OkkQAwZnVuD5l8VNnmDzK09QvMawqq2H/rzDV/VXQhxoEnZufn9g9IRwV+0MpoEn cerzlVeQxNS+ZJLX6CDygw== 0000900092-07-000136.txt : 20070529 0000900092-07-000136.hdr.sgml : 20070528 20070529162911 ACCESSION NUMBER: 0000900092-07-000136 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070331 FILED AS OF DATE: 20070529 DATE AS OF CHANGE: 20070529 EFFECTIVENESS DATE: 20070529 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK GLOBAL VALUE FUND, INC. CENTRAL INDEX KEY: 0001007483 IRS NUMBER: 223464549 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-07561 FILM NUMBER: 07884000 BUSINESS ADDRESS: STREET 1: 800 SCUDDERS MILL RD STREET 2: MERRILL LYNCH ASSET MANAGEMENT CITY: PLAINSBORO STATE: NJ ZIP: 08536 BUSINESS PHONE: 6092822116 MAIL ADDRESS: STREET 1: MERRILL LYNCH ASSET MANAGEMENT STREET 2: 800 SCUDDERS MILL RD CITY: PLAINSBORO STATE: NJ ZIP: 08536 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH GLOBAL VALUE FUND INC DATE OF NAME CHANGE: 19960411 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH INTERNATIONAL BASIC VALUE FUND INC DATE OF NAME CHANGE: 19960208 0001007483 S000002244 BLACKROCK GLOBAL VALUE FUND, INC. C000005785 Investor A C000005786 Investor B C000005787 Investor C C000005788 Institutional C000005789 Class R N-Q 1 globalvalue.txt BLACKROCK GLOBAL VALUE FUND, INC. 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 811-7561 Name of Fund: BlackRock Global Value Fund, Inc. Fund Address: P.O. Box 9011 Princeton, NJ 08543-9011 Name and address of agent for service: Robert C. Doll, Jr., Chief Executive Officer, BlackRock Global Value Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrant's telephone number, including area code: (609) 282-2800 Date of fiscal year end: 12/31/2007 Date of reporting period: 01/01/07 - 03/31/07 Item 1 - Schedule of Investments BlackRock Global Value Fund, Inc. Schedule of Investments as of March 31, 2007 (in U.S. dollars)
Shares Industry Held Common Stocks Value Africa South Diversified Telecommunication 110,000 Telkom SA Ltd. $ 2,517,058 Africa - 0.9% Services - 0.3% Oil, Gas & Consumable 9,600 Sasol Ltd. 320,309 Fuels - 0.1% Wireless Telecommunication 300,000 MTN Group Ltd. 4,073,334 Services - 0.5% Total Common Stocks in Africa - 0.9% 6,910,701 Europe Austria - 0.1% Diversified Telecommunication 29,700 Telekom Austria AG 742,312 Services - 0.1% Total Common Stocks in Austria 742,312 Belgium - 0.2% Leisure Equipment & 65,879 AGFA-Gevaert NV 1,486,389 Products - 0.2% Total Common Stocks in Belgium 1,486,389 Denmark - 0.4% Commercial Banks - 0.4% 67,407 Danske Bank A/S 3,136,052 Total Common Stocks in Denmark 3,136,052 Finland - 0.3% Electric Utilities - 0.3% 89,468 Fortum Oyj 2,609,020 Total Common Stocks in Finland 2,609,020 France - 3.8% Aerospace & Defense - 0.2% 52,700 European Aeronautic Defense and Space Co. 1,634,665 Automobiles - 0.5% 31,293 Renault SA 3,659,817 Commercial Banks - 1.1% 33,809 BNP Paribas SA 3,531,340 51,324 Credit Agricole SA 2,001,293 18,814 Societe Generale SA 3,251,402 --------------- 8,784,035 Diversified Telecommunication 78,000 France Telecom SA 2,059,953 Services - 0.3% Electric Utilities - 0.4% 40,289 Electricite de France SA 3,377,734 Insurance - 0.3% 47,851 AXA SA 2,028,869 Machinery - 0.3% 10,503 Vallourec (c) 2,687,940 Oil, Gas & Consumable 75,516 Total SA 5,291,033 Fuels - 0.7% Total Common Stocks in France 29,524,046 Germany - 3.9% Air Freight & Logistics - 0.4% 97,556 Deutsche Post AG 2,953,044 Automobiles - 0.4% 47,928 Bayerische Motoren Werke AG 2,827,956 Chemicals - 1.1% 37,645 BASF AG 4,238,262 66,035 Bayer AG 4,220,086 --------------- 8,458,348 Construction & 23,094 Hochtief AG 2,341,515 Engineering - 0.3% Industrial Conglomerates - 0.4% 29,871 Siemens AG 3,193,039 Insurance - 0.8% 20,542 Allianz AG Registered Shares 4,217,944 13,163 Muenchener Rueckversicherungs AG Registered Shares 2,226,275 --------------- 6,444,219 Multi-Utilities - 0.5% 36,121 RWE AG 3,821,080 Total Common Stocks in Germany 30,039,201 Hungary - 0.3% Oil, Gas & Consumable 17,850 Mol Magyar Olaj- es Gazipari Rt. 2,058,997 Fuels - 0.3% Total Common Stocks in Hungary 2,058,997 Ireland - 0.7% Commercial Banks - 0.3% 92,930 Allied Irish Banks Plc 2,755,909 Construction Materials - 0.4% 70,698 CRH Plc 3,019,296 Total Common Stocks in Ireland 5,775,205 Italy - 2.1% Commercial Banks - 1.0% 488,433 Banca Intesa SpA 3,709,948 410,927 UniCredito Italiano SpA 3,911,159 --------------- 7,621,107 Diversified Telecommunication 654,555 Telecom Italia SpA 1,867,684 Services - 0.6% 1,107,467 Telecom Italia SpA (RNC) 2,741,336 --------------- 4,609,020 Oil, Gas & Consumable 125,892 ENI SpA 4,096,674 Fuels - 0.5% Total Common Stocks in Italy 16,326,801 Netherlands - 0.3% Metals & Mining - 0.3% 51,138 Arcelor Mittal 2,715,419 Total Common Stocks in the Netherlands 2,715,419 Norway - 0.7% Diversified Telecommunication 65,700 Telenor ASA 1,167,366 Services - 0.2% Industrial 15,317 Orkla ASA 1,079,798 Conglomerates - 0.1% Oil, Gas & Consumable 103,627 Statoil ASA 2,821,557 Fuels - 0.4% Total Common Stocks in Norway 5,068,721 Spain - 1.1% Commercial Banks - 1.0% 160,302 Banco Bilbao Vizcaya Argentaria SA 3,935,867 239,553 Banco Santander Central Hispano SA 4,275,275 --------------- 8,211,142 Transportation 30,000 Cintra Concesiones de Infraestructuras de Infrastructure - 0.1% Transporte SA 561,856 Total Common Stocks in Spain 8,772,998 Sweden - 0.4% Diversified Financial 119,917 Investor AB 2,850,751 Services - 0.4% Total Common Stocks in Sweden 2,850,751 Switzerland - 2.6% Capital Markets - 1.1% 62,416 Credit Suisse Group 4,479,015 63,170 UBS AG 3,753,342 --------------- 8,232,357 Food Products - 0.2% 4,900 Nestle SA Registered Shares 1,908,345 Insurance - 0.5% 40,604 Swiss Reinsurance Registered Shares 3,709,043 Pharmaceuticals - 0.8% 9,600 Novartis AG (b) 524,448 98,671 Novartis AG Registered Shares 5,659,687 --------------- 6,184,135 Total Common Stocks in Switzerland 20,033,880 Turkey - 0.2% Commercial Banks - 0.0% 0 Akbank T.A.S. 1 Wireless Telecommunication 58,610 Turkcell Iletisim Hizmet AS 298,942 Services - 0.2% 115,000 Turkcell Iletisim Hizmet AS (b) 1,523,750 --------------- 1,822,692 Total Common Stocks in Turkey 1,822,693 United Aerospace & Defense - 0.5% 398,827 BAE Systems Plc 3,610,217 Kingdom - 5.5% Beverages - 0.3% 25,000 Diageo Plc (b) 2,023,750 Commercial Banks - 0.8% 179,211 Barclays Plc 2,542,675 186,229 HBOS Plc 3,836,940 --------------- 6,379,615 Diversified Financial 65,500 Guinness Peat Group Plc 106,681 Services - 0.0% Food Products - 0.6% 75,000 Premier Foods Plc 432,065 147,024 Unilever Plc 4,429,497 --------------- 4,861,562 Insurance - 0.7% 161,220 Aviva Plc 2,374,661 220,907 Prudential Plc 3,119,050 --------------- 5,493,711 Oil, Gas & Consumable 185,021 Royal Dutch Shell Plc Class B 6,156,808 Fuels - 0.8% Pharmaceuticals - 0.7% 213,717 GlaxoSmithKline Plc 5,875,251 Tobacco - 0.4% 111,380 British American Tobacco Plc 3,482,748 Wireless Telecommunication 1,926,972 Vodafone Group Plc 5,138,137 Services - 0.7% Total Common Stocks in the United Kingdom 43,128,480 Total Common Stocks in Europe - 22.6% 176,090,965 Latin America Brazil - 2.5% Diversified Telecommunication 90,137 Tele Norte Leste Participacoes SA 2,611,842 Services - 0.3% Food Products - 0.1% 35,500 Cosan SA Industria e Comercio (c) 642,698 Household Durables - 0.0% 9,400 Gafisa SA 118,624 Metals & Mining - 0.6% 124,800 Companhia Vale do Rio Doce (Common Shares) (b)(e) 4,616,352 Oil, Gas & Consumable 113,200 Petroleo Brasileiro SA (b)(e) 10,114,420 Fuels - 1.3% Wireless Telecommunication 328,000 Vivo Participacoes SA (b)(e) 1,151,280 Services - 0.2% Total Common Stocks in Brazil 19,255,216 Chile - 0.2% Commercial Banks - 0.2% 25,200 Banco Santander Chile SA (b) 1,256,724 Total Common Stocks in Chile 1,256,724 Mexico - 0.2% Construction Materials - 0.2% 42,400 Cemex, SA de CV (b)(c)(e) 1,388,600 Total Common Stocks in Mexico 1,388,600 Peru - 0.0% Metals & Mining - 0.0% 4,900 Southern Copper Corp. (e) 351,134 Total Common Stocks in Peru 351,134 Total Common Stocks in Latin America - 2.9% 22,251,674 Middle East Egypt - 0.3% Wireless Telecommunication 31,000 Orascom Telecom Holding SAE (b) 2,150,042 Services - 0.3% Total Common Stocks in Egypt 2,150,042 Israel - 0.3% Communications 233,300 ECI Telecom Ltd. (b)(c) 1,913,060 Equipment - 0.2% Pharmaceuticals - 0.1% 13,700 Teva Pharmaceutical Industries Ltd. (b) 512,791 Total Common Stocks in Israel 2,425,851 Total Common Stocks in the Middle East - 0.6% 4,575,893 North America Canada - 1.0% Communications 55,000 Nortel Networks Corp. (c) 1,322,750 Equipment - 0.2% Metals & Mining - 0.4% 225,000 GPJ Acquisition Co. Ltd. (c) 204,634 215,926 Kinross Gold Corp. (c) 2,981,256 --------------- 3,185,890 Oil, Gas & Consumable 16,600 Petro-Canada Inc. 649,190 Fuels - 0.2% 16,300 Suncor Energy, Inc. (b) 1,244,505 --------------- 1,893,695 Road & Rail - 0.2% 25,000 Canadian Pacific Railway Ltd. (USD) 1,411,250 Total Common Stocks in Canada 7,813,585 United Aerospace & Defense - 0.2% 500 Boeing Co. 44,455 States - 34.5% 5,300 General Dynamics Corp. 404,920 500 Lockheed Martin Corp. 48,510 600 Northrop Grumman Corp. 44,532 800 Raytheon Co. 41,968 19,900 Spirit Aerosystems Holdings, Inc. Class A (c) 633,815 --------------- 1,218,200 Air Freight & Logistics - 0.1% 3,700 FedEx Corp. 397,491 Airlines - 0.0% 1,100 AMR Corp. (c) 33,495 1,100 Continental Airlines, Inc. Class B (c) 40,029 600 US Airways Group, Inc. (c) 27,288 --------------- 100,812 Automobiles - 0.1% 14,875 General Motors Corp. 455,770 Beverages - 0.4% 38,100 The Coca-Cola Co. 1,828,800 29,500 Constellation Brands, Inc. Class A (c) 624,810 1,400 Pepsi Bottling Group, Inc. 44,646 11,800 PepsiAmericas, Inc. 263,376 --------------- 2,761,632 Biotechnology - 0.1% 32,600 Senomyx, Inc. (c) 403,588 Capital Markets - 0.6% 700 American Capital Strategies Ltd. 31,017 800 Ameriprise Financial, Inc. 45,712 48,500 The Bank of New York Co., Inc. 1,966,675 200 The Bear Stearns Cos., Inc. 30,070 200 The Goldman Sachs Group, Inc. 41,326 3,000 Mellon Financial Corp. 129,420 500 Morgan Stanley 39,380 33,500 Northern Trust Corp. 2,014,690 4,900 State Street Corp. 317,275 --------------- 4,615,565 Chemicals - 0.1% 17,300 E.I. du Pont de Nemours & Co. 855,139 Commercial Banks - 0.1% 1,100 National City Corp. 40,975 3,800 Wachovia Corp. 209,190 21,200 Wells Fargo & Co. 729,916 --------------- 980,081 Commercial Services & 600 Avery Dennison Corp. 38,556 Supplies - 0.0% Communications 454,100 3Com Corp. (c) 1,775,531 Equipment - 2.5% 3,000 Avaya, Inc. (c) 35,430 40,500 Ciena Corp. (c) 1,131,975 261,600 Cisco Systems, Inc. (c) 6,678,648 202,400 Comverse Technology, Inc. (c) 4,321,240 30,400 Extreme Networks, Inc. (c) 128,592 18,500 JDS Uniphase Corp. (c) 281,755 136,300 Motorola, Inc. 2,408,421 65,600 QUALCOMM, Inc. 2,798,496 --------------- 19,560,088 Computers & Peripherals - 1.4% 41,000 Apple Computer, Inc. (c) 3,809,310 35,600 Hewlett-Packard Co. 1,428,984 44,000 International Business Machines Corp. 4,147,440 600 Lexmark International, Inc. Class A (c) 35,076 227,300 Sun Microsystems, Inc. (c) 1,366,073 --------------- 10,786,883 Construction & 81,900 Foster Wheeler Ltd. (c) 4,782,141 Engineering - 0.6% Consumer Finance - 0.1% 10,200 SLM Corp. 417,180 Containers & Packaging - 0.2% 35,600 Crown Holdings, Inc. (c) 870,776 46,700 Smurfit-Stone Container Corp. (c) 525,842 --------------- 1,396,618 Diversified Financial 41,700 Bank of America Corp. 2,127,534 Services - 1.2% 500 CIT Group, Inc. 26,460 129,800 Citigroup, Inc. 6,663,932 11,800 JPMorgan Chase & Co. 570,884 --------------- 9,388,810 Diversified Telecommunication 93,540 AT&T Inc. 3,688,282 Services - 1.2% 23,200 Cincinnati Bell, Inc. (c) 109,040 4,800 Embarq Corp. 270,480 42,600 General Communication, Inc. Class A (c) 596,400 4,300 Qwest Communications International Inc. (c) 38,657 111,800 Verizon Communications, Inc. 4,239,456 24,300 Windstream Corp. 356,967 --------------- 9,299,282 Electric Utilities - 0.4% 800 Edison International 39,304 40,000 Mirant Corp. (c) 1,618,400 43,500 PPL Corp. 1,779,150 --------------- 3,436,854 Electronic Equipment & 1,200 Avnet, Inc. (c) 43,368 Instruments - 0.0% Energy Equipment & 5,250 Baker Hughes, Inc. 347,183 Services - 1.9% 44,000 Complete Production Services, Inc. (c) 876,040 17,700 ENSCO International, Inc. 962,880 33,200 GlobalSantaFe Corp. 2,047,776 45,900 Grant Prideco, Inc. (c) 2,287,656 24,000 Halliburton Co. 761,760 51,525 Key Energy Services, Inc. (c) 842,434 12,500 National Oilwell Varco, Inc. (c) 972,375 6,300 Noble Corp. 495,684 32,400 Schlumberger Ltd. 2,238,840 29,500 Smith International, Inc. 1,417,475 8,600 Transocean, Inc. (c) 702,620 13,700 Weatherford International Ltd. (c) 617,870 --------------- 14,570,593 Food & Staples 24,369 CVS Corp./Caremark Corp. 831,958 Retailing - 0.3% 1,800 The Kroger Co. 50,850 13,900 SUPERVALU Inc. 543,073 1,300 Safeway, Inc. 47,632 11,800 Wal-Mart Stores, Inc. 554,010 11,800 Walgreen Co. 541,502 --------------- 2,569,025 Food Products - 0.2% 33,000 ConAgra Foods, Inc. 822,030 800 Dean Foods Co. (c) 37,392 700 General Mills, Inc. 40,754 29,500 Sara Lee Corp. 499,140 --------------- 1,399,316 Health Care Equipment & 15,100 Baxter International, Inc. 795,317 Supplies - 0.1% 23,700 Boston Scientific Corp. (c) 344,598 --------------- 1,139,915 Health Care Providers & 22,750 Aetna, Inc. 996,222 Services - 1.2% 8,800 AmerisourceBergen Corp. 464,200 4,700 Cigna Corp. 670,502 600 Coventry Health Care, Inc. (c) 33,630 16,500 HealthSouth Corp. (c) 346,665 14,800 Manor Care, Inc. 804,528 9,800 McKesson Corp. 573,692 15,800 Medco Health Solutions, Inc. (c) 1,145,974 63,200 Tenet Healthcare Corp. (c) 406,376 10,300 Triad Hospitals, Inc. (c) 538,175 33,900 UnitedHealth Group, Inc. 1,795,683 20,300 WellPoint, Inc. (c) 1,646,330 --------------- 9,421,977 Hotels, Restaurants & 36,000 McDonald's Corp. 1,621,800 Leisure - 0.9% 84,900 Panera Bread Co. Class A (c) 5,014,194 --------------- 6,635,994 Household Products - 0.1% 15,100 The Procter & Gamble Co. 953,716 IT Services - 0.0% 1,100 Accenture Ltd. Class A 42,394 1,500 Electronic Data Systems Corp. 41,520 1,600 Total System Services, Inc. 50,960 --------------- 134,874 Independent Power Producers & 35,600 The AES Corp. (c) 766,112 Energy Traders - 0.4% 500 Constellation Energy Group, Inc. 43,475 71,700 Dynegy, Inc. Class A (c) 663,942 25,600 TXU Corp. 1,640,960 --------------- 3,114,489 Industrial 355,500 General Electric Co. 12,570,480 Conglomerates - 1.9% 74,100 Tyco International Ltd. 2,337,855 --------------- 14,908,335 Insurance - 3.6% 48,100 ACE Ltd. 2,744,586 16,300 The Allstate Corp. 978,978 135,700 American International Group, Inc. 9,121,754 15,700 Assurant, Inc. 841,991 1,100 Axis Capital Holdings Ltd. 37,246 9,800 Bristol West Holdings, Inc. 217,266 900 CNA Financial Corp. (c) 38,781 600 Chubb Corp. 31,002 8,800 Darwin Professional Underwriters, Inc. (c) 221,320 48,600 Endurance Specialty Holdings Ltd. 1,736,964 2,200 Everest Re Group Ltd. 211,574 1,100 Genworth Financial, Inc. Class A 38,434 13,600 Hartford Financial Services Group, Inc. 1,299,888 27,200 IPC Holdings, Ltd. 784,720 500 Lincoln National Corp. 33,895 1,100 Loews Corp. 49,973 600 MBIA, Inc. 39,294 17,300 Marsh & McLennan Cos., Inc. 506,717 21,100 Platinum Underwriters Holdings Ltd. 676,888 7,800 Prudential Financial, Inc. 704,028 13,400 RenaissanceRe Holdings Ltd. 671,876 55,700 The Travelers Cos., Inc. 2,883,589 63,400 XL Capital Ltd. Class A 4,435,464 --------------- 28,306,228 Internet & Catalog Retail - 0.0% 900 IAC/InterActiveCorp (c) 33,939 9,800 Liberty Media Holding Corp. - Interactive (c) 233,436 --------------- 267,375 Internet Software & 34,700 eBay, Inc. (c) 1,150,305 Services - 0.2% 1,900 Expedia, Inc. (c) 44,042 --------------- 1,194,347 Leisure Equipment & 1,600 Mattel, Inc. 44,112 Products - 0.0% Life Sciences Tools & 5,900 Thermo Fisher Scientific, Inc. (c) 275,825 Services - 0.1% 12,500 Waters Corp. (c) 725,000 --------------- 1,000,825 Machinery - 0.0% 200 Cummins, Inc. 28,944 600 Eaton Corp. 50,136 800 SPX Corp. 56,160 800 Terex Corp. (c) 57,408 --------------- 192,648 Media - 0.7% 96,750 Comcast Corp. Class A (c)(e) 2,510,663 4,000 Discovery Holding Co. (c) 76,520 5,813 Idearc, Inc. 204,036 2,100 Liberty Media Holding Corp. - Capital (c) 232,239 500 The McGraw-Hill Cos., Inc. 31,440 500 Omnicom Group, Inc. 51,190 33,000 Time Warner, Inc. 650,760 15,100 Viacom, Inc. Class B (c) 620,761 29,600 Virgin Media, Inc. (e) 747,400 --------------- 5,125,009 Metals & Mining - 1.1% 39,300 Alcoa, Inc. 1,332,270 21,900 Freeport-McMoRan Copper & Gold, Inc. Class B 1,449,561 127,400 Newmont Mining Corp. (e) 5,349,526 500 Nucor Corp. 32,565 800 United States Steel Corp. 79,336 --------------- 8,243,258 Multi-Utilities - 0.1% 38,700 CMS Energy Corp. 688,860 2,000 CenterPoint Energy, Inc. 35,880 600 PG&E Corp. 28,962 500 Sempra Energy 30,505 --------------- 784,207 Multiline Retail - 0.0% 1,900 Big Lots, Inc. (c) 59,432 1,600 Family Dollar Stores, Inc. 47,392 500 JC Penney Co., Inc. 41,080 600 Kohl's Corp. (c) 45,966 800 Nordstrom, Inc. 42,352 200 Sears Holdings Corp. (c) 36,032 --------------- 272,254 Office Electronics - 0.0% 1,300 Xerox Corp. (c) 21,957 Oil, Gas & Consumable 12,300 Arch Coal, Inc. 377,487 Fuels - 4.2% 43,700 Chevron Corp. 3,232,052 30,800 ConocoPhillips 2,105,180 76,400 Consol Energy, Inc. 2,989,532 12,000 Devon Energy Corp. 830,640 428,700 El Paso Corp. 6,203,289 115,400 Exxon Mobil Corp. (i) 8,706,930 55,700 Foundation Coal Holdings, Inc. 1,912,738 16,200 Hess Corp. 898,614 13,300 Marathon Oil Corp. 1,314,439 18,100 Murphy Oil Corp. 966,540 23,550 Occidental Petroleum Corp. 1,161,251 43,500 Peabody Energy Corp. 1,750,440 12,200 Stone Energy Corp. (c) 362,218 --------------- 32,811,350 Paper & Forest 34,500 International Paper Co. 1,255,800 Products - 0.2% Personal Products - 0.1% 21,000 Avon Products, Inc. 782,460 Pharmaceuticals - 2.4% 16,300 Abbott Laboratories 909,540 64,300 Bristol-Myers Squibb Co. 1,784,968 21,800 Eli Lilly & Co. 1,170,878 85,700 Johnson & Johnson 5,164,282 2,400 King Pharmaceuticals, Inc. (c) 47,208 36,600 Merck & Co., Inc. 1,616,622 205,700 Pfizer, Inc. 5,195,982 50,500 Schering-Plough Corp. 1,288,255 7,400 Watson Pharmaceuticals, Inc. (c) 195,582 29,500 Wyeth 1,475,885 --------------- 18,849,202 Real Estate Investment 8,500 Ventas, Inc. 358,105 Trusts (REITs) - 0.0% Road & Rail - 1.6% 42,200 Burlington Northern Santa Fe Corp. 3,394,146 23,500 Norfolk Southern Corp. 1,189,100 74,300 Union Pacific Corp. 7,545,165 --------------- 12,128,411 Semiconductors & Semiconductor 7,200 Agere Systems, Inc. (c) 162,864 Equipment - 0.3% 2,300 Applied Materials, Inc. 42,136 86,600 Genesis Microchip, Inc. (c) 804,514 54,900 Intel Corp. 1,050,237 --------------- 2,059,751 Software - 2.0% 900 BMC Software, Inc. (c) 27,711 7,100 Borland Software Corp. (c) 37,417 166,300 CA, Inc. 4,308,833 1,900 Cadence Design Systems, Inc. (c) 40,014 1,600 McAfee, Inc. (c) 46,528 371,200 Microsoft Corp. (i) 10,345,344 32,800 Novell, Inc. (c) 236,816 65,000 TIBCO Software, Inc. (c) 553,800 --------------- 15,596,463 Specialty Retail - 0.0% 1,250 American Eagle Outfitters, Inc. 37,488 2,200 The Gap, Inc. 37,862 800 The Sherwin-Williams Co. 52,832 1,100 Staples, Inc. 28,424 1,300 TJX Cos., Inc. 35,048 --------------- 191,654 Textiles, Apparel & Luxury 3,700 Hanesbrands, Inc. (c) 108,743 Goods - 0.1% 102,100 Unifi, Inc. (c) 294,048 --------------- 402,791 Thrifts & Mortgage 1,100 Countrywide Financial Corp. 37,004 Finance - 0.1% 18,700 Fannie Mae 1,020,646 --------------- 1,057,650 Tobacco - 0.3% 18,400 Alliance One International, Inc. (c) 169,832 25,100 Altria Group, Inc. 2,204,031 800 Loews Corp. - Carolina Group 60,488 --------------- 2,434,351 Transportation 96,100 Macquarie Infrastructure Co. Trust (e) 3,776,730 Infrastructure - 0.5% Wireless Telecommunication 28,200 Alltel Corp. 1,748,400 Services - 0.6% 164,400 Sprint Nextel Corp. 3,117,024 600 Telephone & Data Systems, Inc. 35,772 --------------- 4,901,196 Total Common Stocks in the United States 267,844,426 Total Common Stocks in North America - 35.5% 275,658,011 Pacific Basin/Asia Australia - 1.3% Capital Markets - 0.3% 31,300 Macquarie Bank Ltd. 2,095,632 Metals & Mining - 0.5% 83,000 BHP Billiton Ltd. 2,007,274 24,000 Rio Tinto Ltd. 1,530,366 --------------- 3,537,640 Oil, Gas & Consumable 24,000 Woodside Petroleum Ltd. 766,833 Fuels - 0.1% Transportation 223,000 Macquarie Airports Group 719,914 Infrastructure - 0.4% 669,000 Macquarie Infrastructure Group 2,078,547 501,500 Sydney Roads Group 547,781 --------------- 3,346,242 Total Common Stocks in Australia 9,746,347 China - 2.1% Diversified Telecommunication 28,700 China Communications Services Corp. Ltd. (c) 19,431 Services - 0.0% Food Products - 0.2% 1,775,600 Chaoda Modern Agriculture Holdings Ltd. 1,245,317 Industrial 2,502,500 Beijing Enterprises Holdings Ltd. 6,373,552 Conglomerates - 0.9% 889,300 Tianjin Development Holdings Ltd. 672,652 --------------- 7,046,204 Oil, Gas & Consumable 1,956,000 China Shenhua Energy Co. Ltd. Class H 4,731,350 Fuels - 0.9% 2,480,000 Yanzhou Coal Mining Co. Ltd. 2,374,147 --------------- 7,105,497 Transportation 366,000 Jiangsu Express 285,736 Infrastructure - 0.1% 1,665,000 Xiamen International Port Co. Ltd. (c) 464,542 --------------- 750,278 Total Common Stocks in China 16,166,727 Hong Kong - 1.1% Commercial Banks - 0.2% 72,000 HSBC Holdings Plc Hong Kong Registered 1,251,373 Computers & 1,166,000 Lenovo Group Ltd. 426,795 Peripherals - 0.0% Industrial 130,800 Hutchison Whampoa Ltd. 1,258,030 Conglomerates - 0.2% Real Estate Management & 1,518,100 Beijing Capital Land Ltd. 639,220 Development - 0.5% 1,837,000 China Resources Land Ltd. 2,214,698 600 Hopson Development Holdings Ltd. 1,507 323,000 Wharf Holdings Ltd. 1,198,823 --------------- 4,054,248 Wireless Telecommunication 850,000 Hutchison Telecommunications International Ltd. (c) 1,723,171 Services - 0.2% Total Common Stocks in Hong Kong 8,713,617 India - 1.6% IT Services - 0.2% 35,800 Infosys Technologies Ltd. 1,662,664 Oil, Gas & Consumable 280,000 Reliance Industries Ltd. 8,827,424 Fuels - 1.1% Wireless Telecommunication 204,000 Reliance Communication Ventures Ltd. (c) 1,975,465 Services - 0.3% Total Common Stocks in India 12,465,553 Indonesia - 0.3% Commercial Banks - 0.1% 813,600 Bank Central Asia Tbk PT 454,724 1,018,500 Bank Mandiri Persero Tbk PT 279,041 --------------- 733,765 Diversified 2,200,000 Indosat Tbk PT 1,506,849 Telecommunication Services - 0.2% Total Common Stocks in Indonesia 2,240,614 Japan - 10.8% Auto Components - 0.3% 45,000 Toyota Industries Corp. 2,130,855 Automobiles - 0.6% 12,500 Honda Motor Co., Ltd. 435,973 175,000 Suzuki Motor Corp. 4,544,297 --------------- 4,980,270 Beverages - 0.4% 124,200 Coca-Cola West Holdings Co., Ltd. 2,692,897 14,000 Kirin Brewery Co., Ltd. 202,206 --------------- 2,895,103 Building Products - 0.1% 44,700 Asahi Glass Co., Ltd. 629,305 10,000 Daikin Industries Ltd. 347,929 --------------- 977,234 Capital Markets - 0.1% 27,700 Nomura Holdings, Inc. 577,083 Chemicals - 0.5% 28,200 Mitsubishi Rayon Co., Ltd. 187,856 30,000 Shin-Etsu Chemical Co., Ltd. 1,830,448 220,000 Sumitomo Chemical Co., Ltd. 1,661,575 --------------- 3,679,879 Commercial Banks - 0.4% 155,100 The Bank of Fukuoka Ltd. 1,251,698 77,000 The Bank of Yokohama Ltd. 574,364 155 Sumitomo Mitsui Financial Group, Inc. 1,407,417 --------------- 3,233,479 Construction & 129,000 JGC Corp. 2,117,159 Engineering - 0.5% 53,000 Kinden Corp. 475,399 291,500 Okumura Corp. 1,598,006 --------------- 4,190,564 Consumer Finance - 0.2% 41,400 Credit Saison Co., Ltd. 1,363,136 Diversified Financial 298,000 RHJ International SA (c) 5,971,226 Services - 0.8% Electronic Equipment & 44,000 Murata Manufacturing Co., Ltd. 3,211,134 Instruments - 0.4% Food & Staples 84,000 Seven & I Holdings Co. Ltd. 2,559,063 Retailing - 0.3% Gas Utilities - 0.3% 410,500 Tokyo Gas Co., Ltd. 2,288,684 Household Durables - 0.3% 96,300 Fuso Lexel, Inc. 886,673 19,000 Rinnai Corp. 506,280 200 Sanyo Housing Nagoya Co. Ltd. 288,527 30,000 Sekisui House Ltd. 466,904 --------------- 2,148,384 Household Products - 0.2% 51,000 Kao Corp. 1,493,126 Insurance - 2.5% 564,000 Aioi Insurance Co., Ltd. 3,934,216 162,500 Millea Holdings, Inc. 6,012,390 426,000 Mitsui Sumitomo Insurance Co., Ltd. 5,346,690 495,000 Nipponkoa Insurance Co., Ltd. 4,242,617 --------------- 19,535,913 Machinery - 0.5% 178,400 Kubota Corp. 1,563,876 182,300 Tadano Ltd. 2,162,724 --------------- 3,726,600 Media - 0.2% 92,700 Toho Co., Ltd. 1,809,318 Office Electronics - 0.3% 47,600 Canon, Inc. 2,556,925 Pharmaceuticals - 0.6% 71,900 Takeda Pharmaceutical Co., Ltd. 4,716,455 Real Estate Management & 11,700 Joint Corp. 444,807 Development - 0.1% Road & Rail - 0.2% 230 East Japan Railway Co. 1,791,752 Tobacco - 0.2% 350 Japan Tobacco, Inc. 1,719,705 Trading Companies & 110,000 Mitsubishi Corp. 2,553,038 Distributors - 0.3% Wireless Telecommunication 1,980 NTT DoCoMo, Inc. 3,662,933 Services - 0.5% 45 Okinawa Cellular Telephone Co. 142,057 --------------- 3,804,990 Total Common Stocks in Japan 84,358,723 Singapore - 1.8% Commercial Banks - 0.1% 78,000 Oversea-Chinese Banking Corp. 462,710 Diversified 1,694,000 Singapore Telecommunications Ltd. 3,662,341 Telecommunication Services - 0.5% Health Care Providers & 525,000 Parkway Holdings Ltd. 1,135,023 Services - 0.1% Industrial 325,500 Fraser and Neave Ltd. 1,094,190 Conglomerates - 0.6% 277,000 Keppel Corp. Ltd. 3,469,004 --------------- 4,563,194 Real Estate Management & 746,000 CapitaLand Ltd. 3,933,691 Development - 0.5% Total Common Stocks in Singapore 13,756,959 South Korea - 2.0% Chemicals - 0.2% 72,200 SODIFF Advanced Materials Co. Ltd. 1,438,935 Commercial Banks - 0.5% 37,400 Daegu Bank Ltd. 679,783 14,562 Hana Financial Group, Inc. 753,794 16,000 Kookmin Bank 1,435,374 48,800 Pusan Bank 726,190 --------------- 3,595,141 Diversified Telecommunication 100,000 KT Corp. (b) 2,239,000 Services - 0.3% Electronic Equipment & 49,437 Fine DNC Co., Ltd. (c) 253,806 Instruments - 0.1% 75,400 Interflex Co., Ltd. (c) 454,420 --------------- 708,226 Hotels, Restaurants & 111,847 Paradise Co. Ltd. 431,553 Leisure - 0.0% Insurance - 0.4% 27,600 Dongbu Insurance Co., Ltd. 783,291 105,619 Korean Reinsurance Co. 1,386,474 108,500 Meritz Fire & Marine Insurance Co. Ltd. 876,488 --------------- 3,046,253 Metals & Mining - 0.1% 6,700 POSCO (b) 696,465 Textiles, Apparel & Luxury 8,500 Cheil Industries, Inc. 341,066 Goods - 0.0% Tobacco - 0.4% 45,000 KT&G Corp. 2,941,645 Wireless Telecommunication 2,300 SK Telecom Co., Ltd. 468,165 Services - 0.0% Total Common Stocks in South Korea 15,906,449 Taiwan - 0.9% Commercial Banks - 0.1% 1,060,000 Chinatrust Financial Holding Co. 828,025 Diversified 1,377,000 Chunghwa Telecom Co. Ltd. 2,667,282 Telecommunication Services - 0.3% Electronic Equipment & 639,900 Delta Electronics, Inc. 2,069,059 Instruments - 0.3% Insurance - 0.2% 605,000 Cathay Financial Holding Co., Ltd. 1,255,998 Total Common Stocks in Taiwan 6,820,364 Thailand - 0.6% Oil, Gas & Consumable 410,000 Banpu PCL 2,365,610 Fuels - 0.5% 109,600 PTT PCL 651,151 800,000 Thai Oil PCL Foreign Shares 1,336,761 --------------- 4,353,522 Transportation 380,100 Airports of Thailand PCL 629,700 Infrastructure - 0.1% Total Common Stocks in Thailand 4,983,222 Total Common Stocks in the Pacific Basin/Asia - 22.5% 175,158,575 Total Common Stocks (Cost - $587,506,236) - 85.0% 660,645,819 Exchange-Traded Funds North America United 94,800 Consumer Staples Select Sector SPDR Fund (e) 2,517,888 States - 4.6% 95,500 Health Care Select Sector SPDR Fund 3,216,440 41,600 iShares Dow Jones US Telecommunications Sector Index Fund 1,298,752 3,200 iShares Dow Jones US Utilities Sector Index Fund 310,752 152,400 iShares MSCI Brazil (Free) Index Fund (e) 7,482,840 173,000 iShares MSCI South Korea Index Fund 8,746,880 8,900 iShares Silver Trust (c) 1,188,150 12,300 Telecom HOLDRs Trust 461,988 140,500 Utilities Select Sector SPDR Fund (e) 5,584,875 1,500 Vanguard Telecommunication Services ETF 115,095 1,286,400 Vietnam Opportunity Fund Ltd. (c) 4,425,216 Total Exchange-Traded Funds (Cost - $31,491,369) - 4.6% 35,348,876 Face Amount Corporate Bonds Pacific Basin/Asia China - 0.2% Automobiles - 0.0% USD 400,000 Brilliance China Finance Ltd., 0% due 6/07/2011 (a)(j) 465,520 Chemicals - 0.1% SGD 400,000 Bio-Treat Technology Ltd., 0% due 1/18/2013 (a)(j) 289,358 Food Products - 0.1% HKD 6,300,000 Chaoda Modern Agriculture Holdings Ltd., 0% due 5/08/2011 (a)(j) 944,375 Total Corporate Bonds in China 1,699,253 India - 0.7% Automobiles - 0.1% USD 945,000 Tata Motors Ltd., 1% due 4/27/2011 (a) 1,135,134 Thrifts & Mortgage 3,600,000 Housing Development Finance Corp., 0% due Finance - 0.6% 9/27/2010 (a)(j) 4,530,168 Total Corporate Bonds in India 5,665,302 Malaysia - 0.4% Food Products - 0.4% 500,000 IOI Capital BHD Series IOI, 0% due 12/18/2011 (a)(j) 562,500 1,000,000 IOI Investment BHD, 0% due 9/18/2009 (a)(j) 2,153,750 Total Corporate Bonds in Malaysia 2,716,250 Total Corporate Bonds in the Pacific Basin/Asia 10,080,805 North America United Commercial Banks - 0.1% 800,000 Preferred Term Securities XXIV, Ltd., 0% States - 0.1% due 3/22/2037 (c)(k) 780,000 400,000 Preferred Term Securities XXV, Ltd., 0% due 6/22/2037 (c) 397,000 Total Corporate Bonds in North America 1,177,000 Total Corporate Bonds (Cost - $9,715,806) - 1.4% 11,257,805 Structured Notes (d) Europe - 1.3% 5,060,000 Goldman Sachs & Co. (Dow Jones EURO STOXX 50 (R) Index Linked Notes), due 6/20/2008 (c) 5,158,351 5,060,000 JPMorgan Chase & Co. (Dow Jones EURO STOXX 50 (R) Index Linked Notes), due 6/17/2008 (c) 5,206,740 Total Structured Notes in Europe - 1.3% 10,365,091 North America United States - 1.2% 2,450,000 UBS AG (Gold Linked Notes), due 4/28/2008 (c) 2,769,127 1,200,000 UBS AG (Gold Linked Notes), due 5/27/2008 (c) 1,278,587 1,250,000 UBS AG (Gold Linked Notes), due 6/18/2008 (c) 1,312,271 1,250,000 UBS AG (Gold Linked Notes), due 6/19/2008 (c) 1,314,975 1,170,000 UBS AG (Gold Linked Notes), due 7/09/2008 (c) 1,227,122 1,150,000 UBS AG (Gold Linked Notes), due 7/11/2008 (c) 1,257,921 Total Structured Notes in North America - 1.2% 9,160,003 Total Structured Notes (Cost - $18,590,000) - 2.5% 19,525,094 Beneficial Interest Short-Term Securities USD 45,018,293 BlackRock Liquidity Series, LLC Cash Sweep Series, 5.26% (g)(h) 45,018,293 38,962,950 BlackRock Liquidity Series, LLC Money Market Series, 5.33% (f)(g)(h) 38,962,950 Total Short-Term Securities (Cost - $83,981,243) - 10.8% 83,981,243 Number of Contracts Options Purchased Call Options Purchased - 0.0% 71 The Gap, Inc., expiring January 2008 at USD 22.5 2,130 640 Newmont Mining Corp., expiring June 2007 at USD 50 16,000 645 Newmont Mining Corp., expiring January 2008 at USD 55 58,050 --------------- 76,180 Put Options Purchased - 0.3% 320 Black & Decker Corp., expiring August 2007 at USD 75 72,000 1,930 iShares Russell 2000 Index Fund, expiring September 2007 at USD 75 492,150 2,600 iShares Russell 2000 Index Fund, expiring September 2007 at USD 78 884,000 633 JB Hunt Transport Services, Inc., expiring August 2007 at USD 22.5 53,805 645 Leggett & Platt, Inc., expiring September 2007 at USD 22.5 83,850 650 Masco Corp., expiring October 2007 at USD 25 81,250 640 Royal Caribbean Cruises Ltd., expiring September 2007 at USD 35 60,800 319 The Sherwin-Williams Co., expiring September 2007 at USD 60 74,965 186 Whirlpool Corp., expiring September 2007 at USD 75 47,430 640 Williams-Sonoma, Inc., expiring August 2007 at USD 32.5 89,600 --------------- 1,939,850 Total Options Purchased (Premiums Paid - $2,275,675) - 0.3% 2,016,030 Total Investments (Cost - $733,560,329) - 104.6% 812,774,867 Options Written Call Options Written - (0.6%) 4,200 3Com Corp., expiring January 2008 at USD 5 (147,000) 410 Apple Computer, Inc., expiring January 2008 at USD 85 (725,700) 78 Burlington Northern Santa Fe Corp., expiring January 2008 at USD 90 (31,980) 197 Burlington Northern Santa Fe Corp., expiring January 2008 at USD 95 (50,235) 200 Ciena Corp., expiring January 2008 at USD 30 (76,000) 1,739 Comverse Technology, Inc., expiring January 2008 at USD 17.5 (956,450) 20 Comverse Technology, Inc., expiring January 2008 at USD 20 (7,600) 410 El Paso Corp., expiring January 2008 at USD 15 (47,150) 145 Foundation Coal Holdings, Inc., expiring September 2007 at USD 30 (88,450) 132 Genesis Microchip, Inc., expiring June 2007 at USD 10 (5,940) 450 Genesis Microchip, Inc., expiring September 2007 at USD 7.5 (103,500) 235 Norfolk Southern Corp., expiring January 2008 at USD 50 (150,400) 550 Nortel Networks Corp., expiring January 2008 at USD 22.5 (247,500) 200 Novell, Inc., expiring January 2008 at USD 7.5 (16,200) 222 Panera Bread Co. Class A, expiring January 2008 at USD 50 (295,260) 378 Panera Bread Co. Class A, expiring January 2008 at USD 55 (374,220) 249 Panera Bread Co. Class A, expiring January 2008 at USD 60 (179,280) 290 Peabody Energy Corp., expiring January 2008 at USD 40 (162,400) 656 QUALCOMM, Inc., expiring January 2008 at USD 40 (471,664) 150 Smith International, Inc., expiring January 2008 at USD 40 (162,000) 175 Sprint Nextel Corp., expiring January 2008 at USD 20 (28,875) 163 Suncor Energy, Inc., expiring January 2008 at USD 75 (164,630) 650 TIBCO Software, Inc., expiring January 2008 at USD 10 (42,250) Total Options Written (Premiums Received - $4,193,788) - (0.6%) (4,534,684) Total Investments, Net of Options Written (Cost - $729,366,541*) - 104.0% 808,240,183 Liabilities in Excess of Other Assets - (4.0%) (30,948,784) --------------- Net Assets - 100.0% $ 777,291,399 =============== * The cost and unrealized appreciation (depreciation) of investments, net of options written, as of March 31, 2007, as computed for federal income tax purposes, were as follows: Aggregate cost $ 732,941,620 ===================== Gross unrealized appreciation $ 86,388,518 Gross unrealized depreciation (11,089,955) --------------------- Net unrealized appreciation $ 75,298,563 ===================== (a) Convertible security. (b) Depositary receipts. (c) Non-income producing security. (d) Security represents an index linked note. Accordingly, value of the instrument is derived from the price fluctuations in the underlying index. (e) Security, or a portion of security, is on loan. (f) Security was purchased with the cash proceeds from securities loans. (g) Represents the current yield as of March 31, 2007. (h) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows: Net Interest Affiliate Activity Income BlackRock Liquidity Series, LLC Cash Sweep Series $ 45,018,293 $ 129,233 BlackRock Liquidity Series, LLC Money Market Series $ 21,538,300 $ 9,365 (i) All or a portion of security held as collateral in connection with open financial futures contracts. (j) Represents a zero-coupon bond. (k) The security may be offered and sold to "qualified institutional buyers" under Rule 144A of the Securities Act of 1933. o Forward foreign exchange contracts as of March 31, 2007 were as follows: Foreign Currency Settlement Unrealized Purchased Date Depreciation INR 64,085,514 April 2007 $ (12,541) JPY 1,254,900,000 April 2007 (56,271) -------------- Total Unrealized Depreciation on Forward Foreign Exchange Contracts - Net (USD Commitment - $12,219,427) $ (68,812) ============== Foreign Currency Settlement Unrealized Sold Date Depreciation INR 64,085,514 April 2007 $ (28,652) -------------- Total Unrealized Depreciation on Forward Foreign Exchange Contracts - Net (USD Commitment - $1,441,582) $ (28,652) ============== o Financial futures contracts as of March 31, 2007 were as follows: Unrealized Number of Expiration Face Appreciation Contracts Issue Exchange Date Value (Depreciation) 4 Dax 25 Index Euronext June 2007 $ 877,495 $ 53,455 20 Hang Seng Index Future Hong Kong April 2007 $ 2,514,787 29,271 132 MSCI Singapore Future Fourth Market April 2007 $ 6,909,071 (855) 23 S&P 500 Index Detroit June 2007 $ 8,317,608 (88,208) 82 S&P 500 TSE 60 Index Montreal June 2007 $ 10,665,564 76,472 46 S&P 200 Index Future Sydney June 2007 $ 5,492,629 121,802 6 TOPIX Index Future Tokyo June 2007 $ 8,573,637 166,180 144 Taiwan MSCI Index Other April 2007 $ 4,493,208 (11,928) ------------ Total Unrealized Appreciation-Net $ 346,189 ============ o Currency Abbreviations: HKD Hong Kong Dollar INR Indian Rupee JPY Japanese Yen SGD Singapore Dollar USD U.S. Dollar o For Fund compliance purposes, the Fund'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 Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percent of net assets.
Item 2 - Controls and Procedures 2(a) - The registrant's certifying officers have reasonably designed such disclosure controls and procedures to ensure material information relating to the registrant is made known to us by others particularly during the period in which this report is being prepared. The registrant's certifying officers have determined that the registrant's disclosure controls and procedures are effective based on our evaluation of these controls and procedures as of a date within 90 days prior to the filing date of this report. 2(b) - As of September 29, 2006, with the conclusion of the combination of Merrill Lynch's asset management business with BlackRock, the registrant was migrated to BlackRock's trading and compliance monitoring systems, and various personnel changes occurred. In conjunction with these business improvements, there were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under Act (17 CFR 270.30a-3(d)) that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to 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 Global Value Fund, Inc. By: /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock Global Value Fund, Inc. Date: May 21, 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 C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock Global Value Fund, Inc. Date: May 21, 2007 By: /s/ Donald C. Burke ------------------- Donald C. Burke Chief Financial Officer BlackRock Global Value Fund, Inc. Date: May 21, 2007 EX-99.CERT 2 section302.txt SECTION 302 EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Robert C. Doll, Jr., Chief Executive Officer of BlackRock Global Value Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock Global Value Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 21, 2007 /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock Global Value Fund, Inc. EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Donald C. Burke, Chief Financial Officer of BlackRock Global Value Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock Global Value Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 21, 2007 /s/ Donald C. Burke ------------------- Donald C. Burke Chief Financial Officer BlackRock Global Value Fund, Inc. -----END PRIVACY-ENHANCED MESSAGE-----