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

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:           811-10543          

          BlackRock Core Bond Trust          
(Exact name of registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE 
19809 
(Address of principal executive offices) 
(Zip code) 

Robert S. Kapito, President
BlackRock Core Bond Trust
                                        40 East 52nd Street, New York, NY 10022                                        
(Name and address of agent for service)

Registrant's telephone number, including area code:          888-825-2257                    

Date of fiscal year end:          October 31, 2006
Date of reporting period:         January 31, 2006

Item 1. Schedule of Investments.

The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

PORTFOLIO OF INVESTMENTS
JANUARY 31, 2006 (unaudited)

BlackRock Core Bond Trust (BHK)

Principal        
Amount        
Rating1 (000)   Description   Value  
      LONG-TERM INVESTMENTS—124.6%    
      Mortgage Pass-Through Securities—12.0%    
      Federal Home Loan Mortgage Corp.,    
  $ 1,875        3.01%, 4/19/07 $       1,833,600  
  90        5.00%, 8/01/33   86,916  
  3,055        5.50%, 11/01/18-6/01/35   3,064,632  
  3,436        6.00%, 2/01/13-12/01/18   3,501,509  
  2022        6.021%, 5/01/32   205,253  
  34        7.00%, 9/01/31   35,086  
  5,200        TBA, 5.50%, 2/13/36   5,146,378  
      Federal National Mortgage Assoc.,    
  870        1.75%, 6/16/06   860,734  
  6,805        2.35%, 4/29/06-4/05/07   6,681,964  
  53        4.50%, 2/01/20   51,614  
  12,779        5.00%, 11/01/17-7/01/35   12,613,205  
  4,481        5.50%, 1/01/18-1/01/36   4,445,569  
  29        6.00%, 8/01/29-5/01/33   29,966  
  431        7.00%, 1/01/31-7/01/32   446,175  
  1,400        TBA, 5.00%, 2/16/21   1,382,500  
  1,700        TBA, 6.00%, 2/13/36   1,716,470  
  373   Government National Mortgage Assoc., 5.50%, 8/15/33   375,183  
      Small Business Administration,    
  946        Ser. P10B, Class 1, 4.754%, 8/01/14   923,651  
  2,117        Ser. P10B, Class 1, 5.136%, 8/01/13   2,121,015  
      Total Mortgage Pass-Through Securities   45,521,420  
      Federal Housing Administration Security—0.3%    
  1,067   FHA Hebre Home Hospital, 6.25%, 9/01/28   1,099,126  
      Agency Multiple Class Mortgage Pass-Through Securities—6.9%    
      Federal Home Loan Mortgage Corp.,    
  2,612        Ser. 82, Class HJ, 5.50%, 9/25/32   2,612,482  
  1,535        Ser. 2825, Class VP, 5.50%, 6/15/15   1,545,213  
  1,300        Ser. 2883, Class DR, 5.00%, 11/15/19   1,259,505  
  3,626        Ser. 2922, Class GA, 5.50%, 5/15/34   3,623,659  
  1,948        Ser. 2927, Class BA, 5.50%, 10/15/33   1,950,073  
  1,887        Ser. 2933 Class HD, 5.50%, 2/15/35   1,891,956  
  1,600        Ser. 2968, Class EG, 6.00%, 10/15/34   1,626,112  
      Federal National Mortgage Assoc.,    
  1,670        Ser. 3 Class AP, 5.50%, 2/25/35   1,672,605  
  3,575        Ser. 5, Class PK, 5.00%, 12/25/34   3,521,664  
  2,177        Ser. 27, Class PC, 5.50%, 5/25/34   2,171,577  
  2,181        Ser. 70, Class NA, 5.50%, 8/25/35   2,179,636  
  2,055 2      Ser. 118, Class FD, 4.93%, 12/25/33   2,074,523  
      Total Agency Multiple Class Mortgage Pass-Through Securities   26,129,005  
      Asset-Backed Securities—5.7%    
  2,825   Citibank Credit Card Issuance Trust, 4.85%, 2/10/11   2,824,209  
      Countrywide Certificates,    
  2,863 2      Ser. 15, Class 2AV1, 4.63%, 4/25/36   2,862,973  
  2,909 2      Ser. 16, Class 4AV1, 4.63%, 1/25/35   2,909,413  
  2,562 2 Merrill Lynch Mortgage Investors, Inc., 4.691%, 9/25/36   2,562,366  
  2,983 2 New Century Home Equity Loan Trust, 4.661%, 1/25/36   2,984,336  
      SLM Student Loan Trust,    
  1,530 2      Ser. 9, Class A2, 4.643%, 10/25/12   1,526,004  
  2,925 2      Ser. 10, Class A1, 4.525%, 4/25/12   2,925,000  
  2,875 2 Structured Asset Investment Loan Trust, 4.61%, 1/25/36   2,875,000  
      Total Asset-Backed Securities   21,469,301  

1

BlackRock Core Bond Trust (BHK) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
      Interest Only Asset-Backed Securities—1.3%    
      Sterling Coofs Trust,    
  $31,145 2      Ser. 1, 2.362%, 4/15/29 $      2,530,571  
  30,350        Ser. 2, 1.00%, 3/30/30   2,276,250  
      Total Interest Only Asset-Backed Securities   4,806,821  
      Interest Only Mortgage-Backed Securities—0.9%    
      Federal Home Loan Mortgage Corp.,    
  3,064        Ser. 2579, Class HI, 5.00%, 8/15/17   439,514  
  7,552        Ser. 2611, Class QI, 5.50%, 9/15/32   1,356,583  
  33,278 2 Federal National Mortgage Assoc., 2.17%, 11/25/34   1,484,543  
      Total Interest Only Mortgage-Backed Securities   3,280,640  
      Commercial Mortgage-Backed Securities—6.9%    
  2,180 2 Banc of America Commerical Mortgage, Inc., Ser. 1, Class A4, 4.881%, 11/10/42   2,176,686  
  1,994   Commercial Mortgage Acceptance Corp., 6.03%, 9/15/30   2,016,270  
  2,720   Credit Suisse First Boston Mortgage Securities Corp., 4.94%, 12/15/35   2,672,019  
  1,782   General Motor Acceptance Corp. Commercial Mortgage Securities, Inc., 7.179%, 8/15/36   1,879,065  
  2,717   Goldman Sachs Mortgage Securities Corp. II, 6.135%, 10/18/30   2,760,671  
  1,677   Heller Financial Commercial Mortgage Asset Co., 6.847%, 5/15/31   1,737,389  
      JP Morgan Chase Commercial Mortgage Securities Corp.,    
  2,140        Ser. C1, Class A3, 5.857%, 10/12/35   2,215,649  
  2,180        Ser. CBX, Class A4, 4.529%, 1/12/37   2,116,300  
  1,790   JP Morgan Commercial Mortgage Finance Corp., 7.371%, 8/15/32   1,917,806  
  2,664   Morgan Stanley Cap. Trust I, 6.48%, 11/15/30   2,733,999  
  3,500   Salomon Brothers Mortgage Securities VII, 7.52%, 12/18/09   3,762,519  
      Total Commercial Mortgage-Backed Securities   25,988,373  
      Collateralized Mortgage Obligatons—2.6%    
      Federal Home Loan Mortgage Corp.,    
  875        Ser. 2582, Class TB, 3.50%, 10/15/21   870,337  
  3,234        Ser. 2806, Class VC, 6.00%, 12/15/19   3,289,675  
  3,150   First Union National Bank Commercial Mortgage, 6.423%, 8/15/33   3,310,933  
  2,842   Structured Asset Securities Corp., 3.45%, 2/25/32   2,523,768  
      Total Collateralized Mortgage Obligatons   9,994,713  
      Corporate Bonds—50.0%    
      Aerospace & Defense—2.3%    
  365 2 Aero Invest, 10.634%, 3/22/15 (Norway) (EUR)   471,214  
  30   Armor Holdings, Inc., 8.25%, 8/15/13   32,100  
      BE Aerospace, Inc.,    
  625        8.50%, 10/01/10   670,313  
  1,595        8.875%, 5/01/11   1,670,762  
  80   DRS Technologies, Inc., 7.625%, 2/01/18   81,000  
      Lockheed Martin Corp.,    
  380        7.20%, 5/01/36   455,787  
  835        8.50%, 12/01/29   1,123,551  
      Northrop Grumman Corp.,    
  615        4.079%, 11/16/06   610,806  
  960        7.875%, 3/01/26   1,192,351  
  1,190   Raytheon Co., 7.00%, 5/15/06   1,201,900  
  90   Sequa Corp., 8.875%, 4/01/08   95,400  
  1,125   United Technologies Corp., 4.875%, 5/01/15   1,101,319  
          8,706,503  
      Automotive—0.8%    
  75   ArvinMeritor, Inc., 8.75%, 3/01/12   74,438  
  660   DaimlerChrysler NA Holding Corp., 7.45%, 3/01/27   714,624  
  1,500   Delco Remy Intl., Inc., 11.00%, 5/01/09   637,500  
  100   Goodyear Tire & Rubber Co., 7.857%, 8/15/11   98,250  
  4502   Metaldyne Corp., 10.00%, 11/01/13   412,875  
      Navistar Intl. Corp.,    
  390        7.50%, 6/15/11   386,100  
  170        Ser. B, 6.25%, 3/01/12   158,950  
  100   Tenneco, Inc., 8.625%, 11/15/14   100,000  
  517   TRW Automotive, Inc., 9.375%, 2/15/13   562,237  
          3,144,974  

2

BlackRock Core Bond Trust (BHK) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
    Basic Materials—2.7%    
B- $      80 2,3 BCI US Finance Corp./Borden 2 Nova Scotia Finance ULC, 10.10%, 7/15/10 $            81,400  
B- 4,330   Caraustar Industries, Inc., 9.875%, 4/01/11   4,573,563  
B+ 150   Donohue Forest Products, 7.625%, 5/15/07 (Canada)   154,500  
B 662   Huntsman LLC, 11.50%, 7/15/12   75,735  
BB 70   IMC Global, Inc., 10.875%, 6/01/08   77,875  
      Ineos Group Holdings PLC,    
NR 450        7.875%, 2/07/16 (United Kingdom) (EUR)   546,817  
B- 500 3      8.50%, 2/15/16 (United Kingdom)   500,000  
CCC+ 1,045 2,3 Innophos, Inc., 9.625%, 8/15/14   1,071,125  
BBB+ 130   Ispat Inland ULC, 9.75%, 4/01/14 (Canada)   149,175  
BB+ 2,120   Lyondell Chemical Co., 9.50%, 12/15/08   2,223,350  
B3 380   NewPage Corp., 10.00%, 5/01/12   386,650  
      Rhodia SA,    
CCC+ 204        8.875%, 6/01/11 (France)   209,610  
B3 16        10.25%, 6/01/10 (France)   17,760  
BBB 275   Teck Cominco Ltd., 6.125%, 10/01/35 (Canada)   267,330  
          10,334,890  
      Building & Development—1.2%    
B- 75 3 Ahern Rentals, Inc., 9.25%, 8/15/13   78,750  
B2 200 3 Compression Polymers Corp., 10.50%, 7/01/13   197,000  
B- 730 3 Goodman Global Holding Co., Inc., 7.875%, 12/15/12   689,850  
BB+ 3,000   Hovnanian Enterprises, Inc., 10.50%, 10/01/07   3,232,500  
B 175   North American Energy Partners, Inc., 9.00%, 6/01/10 (Canada)   185,500  
          4,383,600  
      Consumer Products—2.2%    
B3 90   ALH Finance LLC, 8.50%, 1/15/13   86,287  
      Cenveo Corp.,    
B- 250        7.875%, 12/01/13   243,750  
B+ 175        9.625%, 3/15/12   188,125  
BB+ 440   Delhaize America, Inc., 9.00%, 4/15/31   520,159  
BBB+ 530   Federated Dept. Stores, Inc., 6.79%, 7/15/27   556,850  
B3 430   Finlay Fine Jewelry Corp., 8.375%, 6/01/12   382,700  
B2 80   Gold Kist, Inc., 10.25%, 3/15/14   88,800  
B- 800 3 Knowledge Learning Corp., Inc., 7.75%, 2/01/15   768,000  
B- 330   Lazydays RV Center, Inc., 11.75%, 5/15/12   333,300  
B 385 2 Levi Strauss & Co., 9.28%, 4/01/12   394,625  
      May Department Stores Co.,    
BBB+ 30        6.65%, 7/15/24   31,189  
BBB+ 230        7.875%, 3/01/30   268,714  
B3 720   Movie Gallery, Inc., 11.00%, 5/01/12   540,000  
B- 1,000   Pantry, Inc., 7.75%, 2/15/14   1,025,000  
BB- 200   Quiksilver, Inc., 6.875%, 4/15/15   193,000  
B- 865 2,3 Rite Aid Corp., 6.125%, 12/15/08   841,212  
B 2,100   Sonic Automotive, Inc., 8.625%, 8/15/13   2,063,250  
          8,524,961  
      Containers & Packaging—0.7%    
B1 250 3 Crown Americas LLC and Crown Americas Capital Corp., 7.75%, 11/15/15   258,750  
CCC+ 100   Graham Packaging Co., Inc., 8.50%, 10/15/12   100,000  
B 1,500   Owens Brockway, 8.25%, 5/15/13   1,567,500  
CCC+ 340 3 Pregis Corp., 12.375%, 10/15/13   345,100  
B+ 250   Stone-Container Enterprises, Inc., 9.75%, 2/01/11   252,813  
          2,524,163  
      Ecological Services & Equipment—0.1%    
BB- 230   Allied Waste NA, Inc., 5.75%, 2/15/11   219,650  
      Energy—6.5%    
      ANR Pipeline Co.,    
B 260        7.375%, 2/15/24   274,300  
B 810        9.625%, 11/01/21   1,020,600  
B2 465   Aquila Finance Corp., 7.75%, 6/15/11 (Canada)   478,369  
B 170 3 Chaparral Energy, Inc., 8.50%, 12/01/15   178,925

3

BlackRock Core Bond Trust (BHK) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
    Energy—(cont’d)    
BB $ 20 3 Chesapeake Energy Corp., 6.875%, 11/15/20 $           20,300  
B- 250   Clayton Williams Energy, Inc., 7.75%, 8/01/13   245,625  
      CMS Energy Corp.,    
BB- 30        7.50%, 1/15/09   30,938  
BB- 95        8.50%, 4/15/11   103,194  
BB- 100        9.875%, 10/15/07   107,000  
BB- 160   Compagnie Generale de Geophysique SA, 7.50%, 5/15/15 (France)   166,000  
B 100 3 Compton Petroleum Finance Corp., 7.625%, 12/01/13 (Canada)   101,000  
BBB 1,980   Devon Financing Corp. LLC, 7.875%, 9/30/31   2,498,483  
B2 690   Dresser, Inc., 9.375%, 4/15/11   725,362  
      Dynegy Holdings, Inc.,    
B+ 70 3      9.875%, 7/15/10   76,650  
B+ 1,125 3      10.125%, 7/15/13   1,271,250  
      El Paso Corp.,    
B- 100        7.80%, 8/01/31   104,750  
B- 65 3      9.625%, 5/15/12   73,613  
B- 150 3      10.75%, 10/01/10   170,250  
      El Paso Natural Gas Co.,    
B 850        7.625%, 8/01/10   894,625  
B 225 2      8.375%, 6/15/32   261,562  
B 265        8.625%, 1/15/22   308,062  
Ba2 125   Elwood Energy LLC, 8.159%, 7/05/26   136,073  
A- 1,000   EnCana Corp., 6.50%, 8/15/34 (Canada)   1,099,460  
B 40   Encore Acquisition Co., 7.25%, 12/01/17   40,300  
BBB- 165   Enterprise Products Operating LP, 5.75%, 3/01/35   151,727  
B 70   Exco Resources, Inc., 7.25%, 1/15/11   71,050  
BBB- 390   FirstEnergy Corp., 7.375%, 11/15/31   450,999  
      Florida Power & Light Co.,    
AA- 950        4.95%, 6/01/35   850,981  
AA- 100        5.40%, 9/01/35   95,955  
Baa1 175   Halliburton Co., 7.60%, 8/15/96   203,466  
      Hilcorp Energy I LP/Hilcorp Finance Corp.,    
B 90 3      7.75%, 11/01/15   90,900  
B 49 3      10.50%, 9/01/10   54,268  
B- 170   KCS Energy, Inc., 7.125%, 4/01/12   170,425  
BBB 1,025 3 Kinder Morgan Finance Corp. ULC, 6.40%, 1/05/36 (Canada)   1,039,401  
A- 700   Midamerican Energy Co., 5.75%, 11/01/35   692,451  
B+ 94   Midwest Generation LLC, 8.56%, 1/02/16   102,826  
      Mirant Americas Generation LLC,    
B 40        8.30%, 5/01/11   41,100  
B 50 2      8.50%, 10/01/21   51,125  
B 170        9.125%, 5/01/31   181,475  
B2 590   Mission Energy Holdings Co., 13.50%, 7/15/08   682,925  
      NRG Energy, Inc.,    
B1 50        7.25%, 2/01/14   50,813  
B1 300        7.375%, 2/01/16   305,625  
A- 360   Occidental Petroleum Corp., 7.20%, 4/01/28   427,942  
B2 130   Orion Power Holdings, Inc., 12.00%, 5/01/10   147,225  
BBB+ 790   Peco Energy Cap. Trust IV, 5.75%, 6/15/33   734,952  
Baa1 1,650 2,3 Pemex Project Funding Master Trust, 9.875%, 12/02/08   1,831,500  
BBB 430   Petro Canada, 5.95%, 5/15/35 (Canada)   432,107  
Baa2 850   Progress Energy, Inc., 7.75%, 3/01/31   1,016,005  
B 25   Range Resources Corp., 6.375%, 3/15/15   25,000  
      Reliant Energy, Inc.,    
BB- 290        6.75%, 12/15/14   250,850  
BB- 50        9.25%, 7/15/10   49,625  
A- 700   Scottish Power PLC, 5.375%, 3/15/15 (United Kingdom)   696,563  
Aa1 290 3 SP PowerAssets Ltd., 5.00%, 10/22/13 (Singapore)   286,816  
A- 295   Suncor Energy, Inc., 5.95%, 12/01/34 (Canada)   307,235  
BBB+ 350   Talisman Energy, Inc., 5.85%, 2/01/37 (Canada)   347,963  
B2 320 3 Targa Resources, Inc., 8.50%, 11/01/13   332,800

4

BlackRock Core Bond Trust (BHK) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
    Energy—(cont’d)    
AA $ 1,050   Texaco Cap., Inc., 8.875%, 9/01/21 $ 1,421,028  
BB+ 20   Transcontinental Gas Pipe Line Corp., 7.25%, 12/01/26   21,750  
BBB+ 725   Virginia Electric & Power Co., 5.75%, 3/31/06   725,964  
B2 45 3 Whiting Petroleum Corp., 7.00%, 2/01/14   45,225  
          24,774,753  
      Entertainment & Leisure—0.9%    
B3 185 3 AMC Entertainment, Inc., 11.00%, 2/01/16   184,537  
B1 1,000   Circus & Eldorado Joint Venture, 10.125%, 3/01/12   1,075,000  
B- 150   Gaylord Entertainment Co., 6.75%, 11/15/14   147,000  
B3 410 3 Greektown Holdings LLC, 10.75%, 12/01/13   406,925  
B 110   Poster Financial Group, Inc., 8.75%, 12/01/11   114,675  
B 1,000   Resorts Intl. Hotel & Casino, Inc., 11.50%, 3/15/09   1,110,000  
B+ 100 3 San Pasqual Casino, 8.00%, 9/15/13   101,750  
BB- 260 3 Seneca Gaming Corp., 7.25%, 5/01/12   263,900  
B+ 115   Wynn Las Vegas LLC/Wynn Las Vegas Cap. Corp., 6.625%, 12/01/14   112,125  
          3,515,912  
      Financial Institutions—16.5%    
AA 550 3,4 Allstate Financial Global Funding II, 2.625%, 10/22/06   539,792  
BB 320   American Real Estate Partners LP/American Real Estate Finance Corp., 7.125%, 2/15/13   324,000  
Aa2 1,645   Bank of America Corp., 4.50%, 8/01/10   1,612,314  
Aa2 325   Bank One Corp., 3.70%, 1/15/08   318,074  
Aa2 1,400   BankBoston NA , 6.375%, 3/25/08-4/15/08   1,441,339  
B 60   BCP Crystal US Holdings Corp., 9.625%, 6/15/14 (Luxembourg)   66,750  
AA 350 3 Belvoir Land LLC, 5.27%, 12/15/47   329,959  
      Berkshire Hathaway Finance Corp.,    
AAA 1,200        3.40%, 7/02/07   1,173,426  
AAA 1,075        4.75%, 5/15/12   1,054,403  
B- 125 3 Borden US Finance Corp./Nova Scotia Finance ULC, 9.00%, 7/15/14   125,625  
AA+ 600   CitiFinancial, 6.25%, 1/01/08   613,452  
      Citigroup, Inc.,    
AA+ 3,010        3.625%, 2/09/09   2,901,188  
AA+ 5,470        4.125%, 2/22/10   5,298,351  
AA+ 1,960        4.25%, 7/29/09   1,915,959  
AA+ 525        6.875%, 2/15/98   593,954  
BB 1,080   Crum & Forster Holdings Corp., 10.375%, 6/15/13   1,142,100  
AAA 1,100 3 Depfa ACS Bank, 4.25%, 8/16/10 (Ireland)   1,071,336  
AA- 900 2 Deutsche Bank AG, 3.843%, 3/15/07   893,070  
B+ 100 3 E*Trade Financial Corp., 7.375%, 9/15/13   102,250  
BB 200   Fairfax Financial Holdings Ltd., 7.75%, 4/26/12 (Canada)   189,000  
AAA 3,625 2 General Electric Capital Corp., 3.45%, 1/15/08   3,596,471  
AA- 1,975   Goldman Sachs Group, Inc., 5.35%, 1/15/16   1,954,855  
      HBOS Treasury Services PLC,    
AA+ 855 3      3.60%, 8/15/07 (United Kingdom)   839,781  
AA+ 825 3      3.75%, 9/30/08 (United Kingdom)   799,499  
AA- 775   HSBC Bank USA NA, 5.875%, 11/01/34   778,263  
      HSBC Finance Corp.,    
AA- 1,820        4.75%, 5/15/09   1,800,344  
AA- 635        6.375%, 8/01/10   665,604  
      Irwin Land LLC,    
AA 1,500 3      5.40%, 12/15/47   1,430,115  
AAA 525 3      Ser. A-1, 5.03%, 12/15/25   498,923  
Aa3 600   JP Morgan Chase & Co., 5.35%, 3/01/07   603,036  
B- 255   K&F Acquisition, Inc., 7.75%, 11/15/14   258,188  
A 1,505   MetLife, Inc., 5.70%, 6/15/35   1,485,059  
AA 1,150 3 Metropolitan Global Funding I, 4.25%, 7/30/09   1,121,331  
AA- 2,125 3 Nationwide Building Society, 3.50%, 7/31/07 (United Kingdom)   2,083,392  
B- 645 3 Nell AF SARL, 8.375%, 8/15/15 (Luxembourg)   652,256  
AAA 850 3 New York Life Global Funding, 3.875%, 1/15/09   825,478  
AA 350   Ohana Military Communities LLC, 6.193%, 4/01/49   379,169  
AA- 1,000 3 Prudential Funding LLC, 6.60%, 5/15/08   1,032,670

5

BlackRock Core Bond Trust (BHK) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
    Financial Institutions—(cont’d)    
      Rainbow National Services LLC,    
B2 $ 2003 3      8.75%, 9/01/12 $          214,000  
B3 1,230 3      10.375%, 9/01/14   1,380,675  
AA 650 2 Royal Bank of Scotland Group PLC, 7.648%, 8/31/49 (United Kingdom)   769,561  
Caa1 685   Standard Aero Holdings, Inc., 8.25%, 9/01/14   561,700  
NR 3,374 2 Structured Asset Receivable Trust, 1.649%, 1/21/10   3,379,750  
A2 800 2,3 Sumitomo Mitsui Banking Corp., 5.625%, 12/31/49 (Japan)   793,870  
      SunTrust Banks, Inc.,    
Aa3 1,635        3.625%, 10/15/07   1,600,305  
Aa3 995        4.00%, 10/15/08   971,637  
Aa2 1,265        4.415%, 6/15/09   1,240,712  
AAA 235 3 TIAA Global Markets, Inc., 3.875%, 1/22/08   230,044  
Aa2 375   U.S. Bancorp, 3.95%, 8/23/07   369,398  
B- 50 2 Universal City Florida Holding Co. I/II, 9.43%, 5/01/10   50,250  
      US Bank NA    
Aa1 1,380        2.87%, 2/01/07   1,350,137  
Aa2 2,790        6.50%, 2/01/08   2,871,301  
AAA 495 3 USAA Capital Corp., 4.00%, 12/10/07   486,496  
      Wells Fargo & Co.,    
Aa1 1,031        3.12%, 8/15/08   987,347  
Aa1 355        4.20%, 1/15/10   344,073  
Aa1 1,665        4.625%, 8/09/10   1,640,741  
Aa1 435        4.875%, 1/12/11   434,769  
BB- 50   Western Financial Bank, 9.625%, 5/15/12   55,750  
          62,243,292  
      Health Care—1.3%    
Ca 20 5 Curative Health Services, Inc., 10.75%, 5/01/11   13,000  
B 340   Elan Finance PLC/Elan Finance Corp., 7.75%, 11/15/11 (Ireland)   321,725  
B 420 2 Insight Health Services Corp., 9.93%, 11/01/11   394,800  
B3 270   Select Medical Corp., 7.625%, 2/01/15   240,300  
B 2,000   United Surgical Partners Intl., Inc., 10.00%, 12/15/11   2,145,000  
B- 410   Universal Hospital Services, Inc., 10.125%, 11/01/11   426,400  
      WellPoint, Inc.,    
A- 775        5.85%, 1/15/36   771,697  
A- 85        5.95%, 12/15/34   85,652  
A 675 3 Wyeth, 6.00%, 2/15/36   688,878  
          5,087,452  
      Industrials—1.9%    
B- 1,430   DI Finance/DynCorp. Intl., 9.50%, 2/15/13   1,472,900  
B- 635   ERICO Intl. Corp., 8.875%, 3/01/12   650,875  
CCC+ 360 3 Hydrochem Industrial Services, 9.25%, 2/15/13   348,300  
B- 390   NationsRent Cos., Inc., 9.50%, 5/01/15   413,400  
CCC+ 420   Park-Ohio Industries, Inc., 8.375%, 11/15/14   369,600  
B3 480 3 Sunstate Equipment Co. LLC, 10.50%, 4/01/13   500,400  
B 2,000   Terex Corp., 9.25%, 7/15/11   2,135,000  
CCC+ 210   Trimas Corp., 9.875%, 6/15/12   180,600  
Baa3 565   Tyco Intl. Group SA, 7.00%, 6/15/28 (Luxembourg)   625,545  
Caa1 655   United Rentals NA, Inc., 7.00%, 2/15/14   618,975  
          7,315,595  
      Media—4.2%    
B- 430   Allbritton Communications Co., 7.75%, 12/15/12   431,612  
CCC 195   American Media Operations, Inc., 10.25%, 5/01/09   179,400  
      AOL Time Warner, Inc.,    
BBB 90        6.625%, 5/15/29   90,107  
BBB 3,040        7.57%, 2/01/24   3,319,558  
BBB 205 4      7.625%, 4/15/31   229,684  
BBB 85        7.70%, 5/01/32   95,838  
BBB 55 3 BSKYB Finance UK PLC, 6.50%, 10/15/35 (United Kingdom)   54,396  
BB- 150 2 Cablevision Systems Corp., 8.716%, 4/01/09   153,563

6

BlackRock Core Bond Trust (BHK) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
    Media—(cont’d)    
CCC- $ 1,124 3 CCH I LLC, 11.00%, 10/01/15 $
          924,490
  
Caa1 380 3 CCH II LLC/CCH II Cap. Corp., 10.25%, 9/15/10  
373,350
  
Caa1 810   Charter Communications Holdings II, LLC/Charter Communications Holdings II Capital Corp., 10.25%, 9/15/10
 
795,825
  
      Comcast Corp.,    
BBB+ 625        6.50%, 11/15/35   626,244  
BBB+ 1,290        7.05%, 3/15/33   1,370,535  
BB- 125 2 Echostar DBS Corp., 7.78%, 10/01/08   128,281  
B 250   General Cable Corp., 9.50%, 11/15/10   268,750  
B2 170 3 Network Communications, Inc., 10.75%, 12/01/13   172,550  
      News America Holdings, Inc.,    
BBB 985        7.625%, 11/30/28   1,090,159  
BBB 825        7.70%, 10/30/25   920,906  
BBB 625        8.45%, 8/01/34   751,025  
B3 210   Nexstar Finance, Inc., 7.00%, 1/15/14   194,512  
B2 600 2,3 Paxson Communications Corp., 7.777%, 1/15/12   597,000  
      Primedia, Inc.,    
B2 80        8.00%, 5/15/13   69,600  
B2 440 2      10.124%, 5/15/10   425,700  
B 800 3 RH Donnelley Corp., 8.875%, 1/15/16   808,000  
      TCI Communications, Inc.,    
BBB+ 200        7.125%, 2/15/28   211,286  
BBB+ 620        7.875%, 8/01/13-2/15/26   708,067  
BBB 70   Time Warner Cos., Inc., 6.95%, 1/15/28   72,044  
CCC+ 100 3 Unity Media GmbH, 10.375%, 2/15/15 (Germany)   104,125  
Caa1 225   Vertis, Inc., 10.875%, 6/15/09   219,937  
Caa2 435   Young Broadcasting, Inc., 10.00%, 3/01/11   391,500  
          15,778,044  
      Real Estate—1.8%    
BB 3,165   American Real Estate Partners, 8.125%, 6/01/11   3,307,425  
      AvalonBay Communities, Inc.,    
BBB+ 350        6.625%, 9/15/11   373,139  
BBB+ 775        8.25%, 7/15/08   828,366  
      Rouse Co.,    
BB+ 895        3.625%, 3/15/09   835,894  
BB+ 1,650        5.375%, 11/26/13   1,556,478  
          6,901,302  
      Technology—0.9%    
B+ 250   Celestica, Inc., 7.625%, 7/01/13 (Canada)   245,625  
BB- 805   Lucent Technologies, Inc., 6.50%, 1/15/28   666,137  
      MagnaChip Semiconductor SA/Magna Semiconductor Finance Co.,    
Ba3 100 2      7.741%, 12/15/11 (Luxembourg)   100,500  
B2 95        8.00%, 12/15/14 (Luxembourg)   91,438  
CCC+ 60 3 SS&C Technologies, Inc., 11.75%, 12/01/13   62,475  
BB 40   STATS ChipPAC Ltd., 7.50%, 7/19/10 (Singapore)   40,600  
      Sungard Data Systems, Inc.,    
B- 350 3      9.125%, 8/15/13   364,000  
B- 110 2,3      9.431%, 8/15/13   114,263  
B- 425 3      10.25%, 8/15/15   428,187  
B 835   Superior Essex Communications LLC/Essex Group, Inc., 9.00%, 4/15/12   837,087  
B- 310   UGS Corp., 10.00%, 6/01/12   335,575  
          3,285,887  

7

BlackRock Core Bond Trust (BHK) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
    Telecommunications—4.8%    
A $ 2,000 2,3 Bellsouth Corp., 4.258%, 4/26/21 $       1,995,900  
A 1,700 2 Bellsouth Telecommunications, 12/15/95   862,920  
CCC 160 3 Centennial Communications Corp., 10.00%, 1/01/13   164,800  
BB- 210   Cincinnati Bell, Inc., 7.25%, 7/15/13   220,500  
A- 25 2 Deutsche Telekom Intl. Finance BV, 8.25%, 6/15/30 (Netherlands)   30,941  
B3 190 2,3 Hawaiian Telcom Communications, Inc., 9.948%, 5/01/13   187,625  
      Intelsat Ltd.,    
Caa1 175        5.25%, 11/01/08 (Bermuda)   161,219  
B2 65 3      8.50%, 1/15/13 (Bermuda)   65,081  
B2 405 3      8.875%, 1/15/15 (Bermuda)   408,544  
B2 325 2,3      9.609%, 1/15/12 (Bermuda)   331,500  
BB- 180   Lucent Technologies, Inc., 6.45%, 3/15/29   152,100  
B2 70   Nortel Networks Corp., 6.875%, 9/01/23 (Canada)   63,350  
      Qwest Corp.,    
BB+ 470 2,3      7.741%, 6/15/13   504,075  
BB+ 200        7.875%, 9/01/11   212,000  
BB+ 155   Rogers Wireless, Inc., 7.25%, 12/15/12 (Canada)   164,300  
Caa1 730   Rural Cellular Corp., 9.875%, 2/01/10   784,750  
A 780   SBC Communications, Inc., 6.45%, 6/15/34   796,989  
A- 1,715   Sprint Cap. Corp., 6.875%, 11/15/28   1,863,039  
A- 1,550   Telecom Italia Cap. SA, 6.00%, 9/30/34 (Luxembourg)   1,471,136  
A- 725   Telefonica Europe BV, 7.75%, 9/15/10 (Netherlands)   791,910  
A+ 70   Verizon Global Funding Corp., 7.75%, 12/01/30   81,824  
A+ 125   Verizon Maryland, Inc., 5.125%, 6/15/33   104,056  
      Verizon New Jersey, Inc.,    
A+ 230        7.85%, 11/15/29   266,255  
A+ 335        Ser. A, 5.875%, 1/17/12   337,526  
A+ 3,150   Verizon Virginia, Inc., 4.625%, 3/15/13   2,932,461  
A+ 2,504   Vodafone Group PLC, 7.75%, 2/15/10 (United Kingdom)   2,732,715  
B+ 350 3 Wind Acquisition Finance SA, 10.75%, 12/01/15 (Luxembourg)   375,375  
          18,062,891  
      Transportation—1.2%    
BB- 115   American Airlines, Inc., 7.324%, 4/15/11   109,825  
A- 350   Canadian National Railway Co., 6.25%, 8/01/34 (Canada)   382,532  
BBB 1,450   Canadian Pacific Railway Ltd., 6.25%, 10/15/11 (Canada)   1,524,791  
B 405   CHC Helicopter Corp., 7.375%, 5/01/14 (Canada)   412,087  
BB- 285 3 Hertz Corp., 8.875%, 1/01/14   294,263  
B3 47   Horizon Lines LLC, 9.00%, 11/01/12   49,644  
B+ 90   OMI Corp., 7.625%, 12/01/13   92,025  
B 1,520   Sea Containers Ltd., 10.50%, 5/15/12 (Bermuda)   1,516,200  
          4,381,367  
      Total Corporate Bonds   189,185,236  
      U.S. Government and Agency Securities—36.0%    
  1,670   Aid to Israel, 5.50%, 4/26/24-9/18/33   1,751,642  
  1,050   Resolution Funding Corp., Zero Coupon, 7/15/18-10/15/18   571,715  
      Tennessee Valley Authority,    
  1,655        Ser. C, 5.88%, 4/01/36   1,854,853  
  2,650        Ser. D, 4.875%, 12/15/16   2,628,217  
      U.S. Treasury Bonds,    
  5,170        5.375%, 2/15/31   5,693,463  
  28,395 4,6      6.125%, 11/15/27   33,710,260  
  8,540        6.50%, 11/15/26   10,509,580  
  21,680 6      7.125%, 2/15/23   27,675,821  
  11,260 6      8.50%, 2/15/20   15,603,883  
  5,978   U.S. Treasury Inflation Indexed Bonds, 0.875%, 4/15/10   5,729,769  
      U.S. Treasury Notes,    
  7,035        4.00%, 8/31/07   6,976,750  
  9,475        4.125%, 8/15/08   9,402,421  
  9,645        4.375%, 11/15/08-12/15/10   9,614,096  
  3,595 6      4.50%, 11/15/15   3,588,241

8

BlackRock Core Bond Trust (BHK) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
    U.S. Government and Agency Securities—(cont’d)    
  $     1,725   U.S. Treasury Strip Principal, Zero Coupon, 11/15/21 $      814,253  
      Total U.S. Government and Agency Securities   136,124,964  
      Foreign Government Bonds—2.0%    
      Federal Republic of Germany,    
AAA 2,325        4.00%, 1/04/37 (EUR)   2,964,506  
AAA 525        4.75%, 7/04/34 (EUR)   748,170  
      United Mexican States,    
Baa1 400        6.75%, 9/27/34   428,400  
Baa1 2,255        8.00%, 9/24/22   2,756,738  
Baa1 500        8.125%, 12/30/19   612,500  
      Total Foreign Government Bonds   7,510,314  
      Total investments before outstanding options written—124.7% (cost $476,711,6717)   471,109,913  
  Notional        
  Amount        
  (000)         
      OUTSTANDING OPTIONS WRITTEN—(0.6)%    
      Interest Rate Swaps,    
  (13,300)        Trust pays 3-month LIBOR, Trust receives 4.725%, expires 6/13/07   (615,125)  
  (13,300)        Trust pays 4.725%, Trust receives 3-month LIBOR, expires 6/13/07   (255,892)  
  (5,300)        Trust pays 5.135%, Trust receives 3-month LIBOR, expires 4/21/08   (204,686)  
  (5,300)        Trust pays 3-month LIBOR, Trust receives 5.135%, expires 4/21/08   (203,997)  
  (11,500)        Trust pays 3-month LIBOR, Trust receives 5.67%, expires 1/04/10   (380,765)  
  (11,500)        Trust pays 5.67%, Trust receives 3-month LIBOR, expires 1/04/10   (729,560)  
      Total Outstanding Options Written (premium received $2,678,830)   (2,390,025)  
      Total investments net of outstanding options written—124.0%   $ 468,719,888  
      Liabilities in excess of other assets (including $42,293,728 of net purchase payable    
           and $54,195,925 of reverse repurchase agreements payable)—(24.0)%   (90,803,553)  
      Net Assets—100%   $ 377,916,335  

1 Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch’s rating.
2 Rate shown is interest rate as of January 31, 2006.
3 Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of January 31, 2006, the Trust held 9.5% of its net assets, with a current market value of $35,786,266, in securities restricted as to resale.
4 Security, or a portion thereof, pledged as collateral with a value of $755,265 on 4 long Eurodollar futures contracts expiring June 2007 to September 2007, 788 long U.S. Treasury Bonds futures contracts expiring March 2006, 108 short Eurodollar futures contracts expiring March 2006 to September 2006, 101 short Germany Federal Republic Bonds futures contracts expiring March 2006 and 966 short U.S. Treasury Note futures contracts expiring March 2006. The notional value of such contracts on January 31, 2006 was ($51,712,038), with an unrealized gain of $1,271,989.
5 Issuer is in default and/or bankruptcy.
6 Entire or partial principal amount pledged as collateral for reverse repurchase agreements.
7 Cost for Federal income tax purposes is $480,498,188. The net unrealized depreciation on a tax basis is $9,388,275, consisting of $1,243,768 gross unrealized appreciation and $10,632,043 gross unrealized depreciation.

A category in the Corporate Bonds section may contain multiple industries as defined by the SEC’s Standard Industry Codes.

KEY TO ABBREVIATIONS

EUR – European Monetary Unit
TBA – To Be Announced

9

Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.

SIGNATURES

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.

(Registrant)      BlackRock Core Bond Trust     

By:      /s/ Henry Gabbay                                                                      
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: March 31, 2006

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

By:      /s/ Robert S. Kapito                                                                  
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: March 31, 2006

By:      /s/ Henry Gabbay                                                                      
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: March 31, 2006