Schedule of Investments (unaudited) 

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  

Municipal Bonds

    
Alabama — 7.9%            

Alabama Economic Settlement Authority, RB, Series A, 4.00%, 09/15/33

   $ 5,000     $ 4,683,353  

Alabama Public School and College Authority, Refunding RB, Series A, 5.00%, 11/01/30

         11,900       12,838,988  

Alabama Special Care Facilities Financing Authority- Birmingham Alabama, Refunding RB, 5.00%, 06/01/30

     10,000       10,144,243  

Birmingham-Jefferson Civic Center Authority, ST

    

Series A, 5.00%, 07/01/31

     1,100       1,141,002  

Series A, 5.00%, 07/01/32

     1,150       1,190,815  

Series A, 5.00%, 07/01/33

     1,600       1,652,458  

Black Belt Energy Gas District, RB(a) 4.00%, 10/01/52

     12,025       11,586,864  

Series A, 5.25%, 01/01/54

     10,000       9,983,152  

Series B-2, 4.81%, 12/01/48

     5,000       4,979,208  

Black Belt Energy Gas District, Refunding RB, 4.00%, 06/01/51(a)

     8,930       8,219,719  

County of Jefferson Alabama Sewer Revenue, Refunding RB, CAB(b)

    

Series B, Senior Lien, (AGM), 0.00%, 10/01/31

     7,375       4,691,647  

Series B, Senior Lien, (AGM), 0.00%, 10/01/32

     6,295       3,738,400  

Series B, Senior Lien, (AGM), 0.00%, 10/01/33

     1,275       710,339  

Homewood Educational Building Authority, Refunding RB

    

Series A, 5.00%, 12/01/33

     1,010       1,026,527  

Series A, 5.00%, 12/01/34

     1,380       1,398,211  

Hoover Industrial Development Board, RB, AMT, 6.38%, 11/01/50(a)

     1,965       2,050,356  

Orange Beach Water Sewer & Fire Protection Authority, RB, 4.00%, 05/15/30

     510       517,574  

Southeast Energy Authority A Cooperative District, RB(a)

    

Series A-2, 5.98%, 01/01/53

     30,265       28,786,863  

Series B-1, 5.00%, 05/01/53

     9,375       9,284,198  

University of South Alabama, Refunding RB

    

(AGM), 5.00%, 11/01/29

     1,105       1,139,133  

(AGM), 5.00%, 11/01/30

     2,000       2,060,617  
   

 

 

  
          121,823,667  
Arizona — 2.2%            

Arizona Health Facilities Authority, Refunding RB, Series B, 5.00%, 02/01/33

     1,810       1,810,844  

Arizona Industrial Development Authority, RB(c)

    

4.00%, 07/01/29

     590       534,381  

4.50%, 07/01/29

     765       703,343  

4.00%, 07/01/30

     555       494,592  

Series A, 4.00%, 07/01/29

     4,135       3,704,294  

Arizona Sports & Tourism Authority, Refunding RB, Senior Lien, (BAM), 5.00%, 07/01/30

     12,000       12,812,616  

Chandler Industrial Development Authority, RB, AMT, 4.10%, 12/01/37(a)

     3,570       3,442,447  

Industrial Development Authority of the City of Phoenix Arizona, RB, Series A, 5.75%, 07/01/24(c)

    165       164,487  
Security  

Par

(000)

     Value  
Arizona (continued)            

Maricopa County Industrial Development Authority, Refunding RB

    

4.00%, 07/01/29(c)

   $ 855     $ 796,708  

Series A, 5.00%, 01/01/31

         10,000       10,139,282  
   

 

 

  
          34,602,994  
California — 12.6%            

Alameda Corridor Transportation Authority, Refunding RB, Series A, Sub Lien, (AMBAC), 0.00%, 10/01/30(b)

     10,530       7,727,679  

Bay Area Toll Authority, RB, Class A, 5.34%, 04/01/36(a)

     3,000       2,977,456  

Bay Area Toll Authority, Refunding RB(a)

    

Series C, 4.54%, 04/01/56

     4,500       4,518,915  

Series E, 4.60%, 04/01/56

     3,250       3,117,716  

California Community Choice Financing Authority, RB(a)

    

5.51%, 12/01/53

     6,750       6,456,533  

5.23%, 02/01/54

     9,780       9,757,438  

5.50%, 10/01/54

     2,500       2,575,312  

Series A, 4.00%, 10/01/52

     8,650       8,344,519  

California Health Facilities Financing Authority, RB

    

Series A, 5.00%, 11/15/32

     1,600       1,659,594  

Series A, 5.00%, 11/15/33

     1,855       1,918,313  

California Housing Finance Agency, RB, M/F Housing, Series 2021-1, Class A, 3.50%, 11/20/35

     3,615       3,062,899  

California Municipal Finance Authority, ARB, AMT, Senior Lien, 5.00%, 12/31/33

     4,000       4,014,658  

California Municipal Finance Authority, RB, S/F Housing, Series A, 5.00%, 08/15/30

     1,000       994,702  

California Municipal Finance Authority, Refunding RB

    

Series A, 5.00%, 07/01/30

     1,200       1,207,724  

Series A, 5.00%, 07/01/31

     1,050       1,055,126  

California School Finance Authority, RB(c)

    

5.00%, 06/01/30

     565       485,854  

Series A, 5.00%, 06/01/29

     280       267,803  

Series A, 4.00%, 06/01/31

     265       240,010  

Series A, 5.00%, 06/01/32

     1,100       1,019,172  

City of Long Beach California Harbor Revenue, ARB

    

Series A, AMT, 5.00%, 05/15/31

     1,200       1,231,894  

Series A, AMT, 5.00%, 05/15/32

     1,800       1,844,451  

Series A, AMT, 5.00%, 05/15/33

     675       690,540  

Series A, AMT, 5.00%, 05/15/34

     1,650       1,685,870  

City of Los Angeles California, RB, 5.00%, 06/27/24

     20,000       20,168,321  

City of Los Angeles Department of Airports, ARB, AMT, 5.00%, 05/15/30

     18,250       19,121,119  

Compton Unified School District, GO, CAB(b)

    

Series B, (BAM), 0.00%, 06/01/33

     1,000       610,595  

Series B, (BAM), 0.00%, 06/01/34

     1,125       646,107  

Series B, (BAM), 0.00%, 06/01/35

     1,000       537,101  

Series B, (BAM), 0.00%, 06/01/36

     1,000       498,822  

El Camino Community College District Foundation, GO, CAB(b)

    

Series C, Election 2002, 0.00%, 08/01/30

     9,090       6,990,164  

Series C, Election 2002, 0.00%, 08/01/31

     12,465       9,185,006  

Series C, Election 2002, 0.00%, 08/01/32

     17,435       12,301,040  

Los Angeles Unified School District, GO, Series A, Election 2008, 4.00%, 07/01/33

     3,000       3,002,615  
 

 

 

1  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
California (continued)            

Monterey Peninsula Community College District, Refunding GO, CAB(b)

    

0.00%, 08/01/30

   $ 3,500     $ 2,496,972  

0.00%, 08/01/31

         5,940           4,027,715  

M-S-R Energy Authority, RB, Series C, 6.13%, 11/01/29

     2,045       2,152,793  

Norman Y Mineta San Jose International Airport SJC, Refunding RB

    

Series A, AMT, 5.00%, 03/01/30

     500       506,222  

Series A, AMT, 5.00%, 03/01/31

     1,500       1,517,221  

Series A, AMT, 5.00%, 03/01/32

     1,000       1,007,086  

Series A, AMT, 5.00%, 03/01/33

     975       981,613  

Series A, AMT, 5.00%, 03/01/34

     1,250       1,256,427  

Series A, AMT, 5.00%, 03/01/35

     2,000       2,007,441  

Poway Unified School District, GO(b)

    

Series A, Election 2008, 0.00%, 08/01/30

     10,000       7,778,225  

Series A, Election 2008, 0.00%, 08/01/32

     12,500       8,584,178  

San Diego County Regional Airport Authority, ARB, Sub-Series B, AMT, 5.00%, 07/01/33

     1,000       1,012,421  

San Rafael City Elementary School District, GO, Series C, Election 2002, (NPFGC), 0.00%, 08/01/30(b)

     6,350       4,930,003  

State of California, Refunding GO, 5.00%, 08/01/30

     10,000       10,394,115  

Washington Township Health Care District, Refunding RB, Series B, 3.00%, 07/01/28

     750       674,152  

Wiseburn School District, GO, Series A, Election 2007, (NPFGC), 0.00%, 08/01/30(b)

     7,505       5,837,558  
   

 

 

  
          195,079,210  
Colorado — 5.9%            

Aspen Valley Hospital District, Refunding GO, 5.00%, 12/01/30

     620       661,688  

Central Platte Valley Metropolitan District, GO(d)

    

Series A, 5.13%, 12/01/23

     700       700,421  

Series A, 5.50%, 12/01/23

     750       750,673  

City & County of Denver Colorado Airport System Revenue, Refunding ARB

    

Series A, AMT, 5.00%, 12/01/30

     12,780       13,092,405  

Series A, AMT, 5.00%, 12/01/33

     25,000       25,329,817  

Series D, AMT, 5.50%, 11/15/30

     14,000       14,842,776  

City & County of Denver Colorado Pledged Excise Tax Revenue, RB, CAB, Series A-2, 0.00%, 08/01/30(b)

     1,000       696,815  

City & County of Denver Colorado, Refunding RB, AMT, 5.00%, 10/01/32

     2,500       2,329,639  

Colorado Educational & Cultural Facilities Authority, Refunding RB, 4.00%, 12/01/30(c)

     1,185       1,083,228  

Colorado Health Facilities Authority, RB

    

5.00%, 11/01/30

     1,000       1,031,285  

Series B, 2.63%, 05/15/29

     2,100       1,735,560  

Series D, 4.74%, 05/15/61(a)

     7,695       7,675,429  

Colorado Health Facilities Authority, Refunding RB, Series A, 4.00%, 08/01/37

     3,000       2,676,548  

E-470 Public Highway Authority, Refunding RB, Series B, 3.91%, 09/01/39(a)

     1,475       1,466,893  

Park Creek Metropolitan District, Refunding RB

    

Series A, Senior Lien, 5.00%, 12/01/27

     1,500       1,521,137  

Series A, Senior Lien, 5.00%, 12/01/28

     1,500       1,523,102  

Series A, Senior Lien, 5.00%, 12/01/30

     1,350       1,370,803  

Series A, Senior Lien, 5.00%, 12/01/31

     1,500       1,522,468  

Plaza Metropolitan District No. 1, Refunding TA(c) 4.00%, 12/01/23

     1,000       997,974  
Security  

Par

(000)

     Value  
Colorado (continued)            

Plaza Metropolitan District No. 1, Refunding TA(c) (continued)

    

4.10%, 12/01/24

   $     5,080     $ 4,977,727  

4.20%, 12/01/25

     5,280       5,092,204  

Tallyn’s Reach Metropolitan District No. 3, GO, 5.00%, 12/01/23(c)(d)

     467       467,235  
   

 

 

  
          91,545,827  
Connecticut — 0.8%            

Capital Region Development Authority, Refunding RB

    

(SAP), 5.00%, 06/15/30

     1,095       1,147,356  

(SAP), 5.00%, 06/15/31

     1,125       1,177,133  

Connecticut State Health & Educational Facilities Authority, RB, Series A, 5.00%, 01/01/30(c)

     370       340,952  

Connecticut State Health & Educational Facilities Authority, Refunding RB

    

Series G-1, 5.00%, 07/01/27(c)

     225       220,867  

Series G-1, 5.00%, 07/01/28(c)

     300       291,829  

Series G-1, 5.00%, 07/01/29(c)

     300       289,242  

Series G-1, 5.00%, 07/01/30(c)

     300       286,512  

Series G-1, 5.00%, 07/01/32(c)

     425       398,926  

Series G-1, 5.00%, 07/01/34(c)

     355       328,330  

Series I-1, 5.00%, 07/01/35

     400       408,494  

State of Connecticut, GO, Series A, 5.00%, 04/15/33

     7,000       7,275,432  
   

 

 

  
      12,165,073  
Delaware — 0.9%            

County of Kent Delaware, RB

    

Series A, 5.00%, 07/01/24

     705       705,648  

Series A, 5.00%, 07/01/25

     805       806,614  

Series A, 5.00%, 07/01/26

     850       851,387  

Series A, 5.00%, 07/01/27

     890       888,590  

Series A, 5.00%, 07/01/28

     935       929,081  

Delaware State Economic Development Authority, Refunding RB(a)

    

Series A, 1.25%, 10/01/45

     6,035       5,586,549  

Series B, 1.25%, 10/01/40

     500       462,846  

Delaware State Health Facilities Authority, RB, 4.00%, 06/01/35

     1,250       1,077,397  

Delaware Transportation Authority, Refunding RB, 5.00%, 09/01/30

     2,000       2,136,763  
   

 

 

  
      13,444,875  
District of Columbia — 1.1%            

Metropolitan Washington Airports Authority Aviation Revenue, Refunding ARB, Series A, AMT, 5.00%, 10/01/30

     17,325       17,615,141  
   

 

 

  
Florida — 6.3%            

Capital Projects Finance Authority, RB, Series A-1, 5.00%, 10/01/30

     1,000       1,003,695  

Capital Trust Agency, Inc., RB(c)

    

Series A, 4.00%, 06/15/29

     1,530       1,367,854  

Series A-1, 3.38%, 07/01/31

     1,810       1,581,977  

Central Florida Expressway Authority, Refunding RB

    

Senior Lien, 5.00%, 07/01/32

     1,610       1,678,342  

Senior Lien, 5.00%, 07/01/33

     2,750       2,859,453  

City of Lakeland Florida, Refunding RB, 5.00%, 11/15/30

     3,750       3,775,702  

County of Miami-Dade Florida Water & Sewer System Revenue, RB, 5.00%, 10/01/27

     5,000       5,214,904  
 

 

 

S C H E D U L E   O F   I N V E S T M E N  T S   2

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Florida (continued)            

County of Miami-Dade Florida, Refunding RB, Series B, 4.00%, 04/01/32

   $     6,690     $ 6,584,191  

County of Palm Beach Florida, RB, 5.00%, 04/01/29(c)

     915       910,243  

County of St. Johns Florida Water & Sewer Revenue,

    

Refunding RB, CAB(b)

    

Series B, 0.00%, 06/01/30

     2,000       1,531,604  

Series B, 0.00%, 06/01/31

     1,295       948,199  

Series B, 0.00%, 06/01/32

     2,495           1,744,424  

Double Branch Community Development District, Refunding SAB, Series A-1, Senior Lien, 4.13%, 05/01/31

     1,200       1,169,678  

Florida Development Finance Corp., RB

    

AMT, 5.00%, 05/01/29(c)

     7,430       6,763,651  

AMT, 3.00%, 06/01/32

     3,000       2,258,626  

Florida Development Finance Corp., Refunding RB(c)

    

4.00%, 06/01/24

     105       103,732  

4.00%, 06/01/25

     100       96,765  

4.00%, 06/01/26

     110       104,260  

4.00%, 09/15/30

     470       410,989  

Hillsborough County Aviation Authority, ARB, AMT, 5.00%, 10/01/30

     2,325       2,392,400  

Lakewood Ranch Stewardship District, Refunding SAB, 3.20%, 05/01/30(c)

     540       496,591  

Lakewood Ranch Stewardship District, SAB, 5.40%, 05/01/28

     1,000       998,192  

Lakewood Ranch Stewardship District, SAB, S/F Housing, 3.40%, 05/01/30

     375       340,880  

LT Ranch Community Development District, SAB, 3.40%, 05/01/30

     985       900,110  

Miami Beach Health Facilities Authority, Refunding RB, 5.00%, 11/15/30

     1,000       1,000,964  

Orange County Convention Center/Orlando, Refunding RB, 5.00%, 10/01/30

     11,470       12,336,869  

Palm Beach County Health Facilities Authority, RB, Series B, 5.00%, 05/15/31

     410       367,027  

Palm Beach County Health Facilities Authority, Refunding RB, 5.00%, 11/15/32

     19,820       19,572,472  

Sarasota National Community Development District, Refunding SAB, 3.50%, 05/01/31

     1,000       887,682  

School Board of Miami-Dade County, Refunding COP, Series A, 5.00%, 05/01/32

     9,000       9,238,177  

St Johns County Industrial Development Authority, Refunding RB

    

4.00%, 12/15/25

     180       172,845  

4.00%, 12/15/28

     200       180,496  

4.00%, 12/15/29

     215       190,145  

4.00%, 12/15/30

     195       169,152  

4.00%, 12/15/31

     205       174,843  

Tolomato Community Development District, Refunding SAB, Sub-Series A-2, 3.85%, 05/01/29

     520       493,260  

Village Community Development District No. 15, SAB, 4.25%, 05/01/28(c)

     730       711,839  

Village Community Development District No. 5, Refunding SAB

    

3.50%, 05/01/28

     4,635       4,436,847  
Security  

Par

(000)

     Value  
Florida (continued)            

Village Community Development District No. 5, Refunding SAB (continued)

    

4.00%, 05/01/33

   $ 890     $ 844,787  

4.00%, 05/01/34

         1,965       1,843,323  
   

 

 

  
      97,857,190  
Georgia — 6.0%            

City of Atlanta Georgia Department of Aviation, Refunding ARB, Series B, AMT, 5.00%, 07/01/29

     4,150       4,271,601  

Georgia Ports Authority, ARB, 5.00%, 07/01/30

     1,175       1,266,033  

Main Street Natural Gas, Inc., RB

    

Series A, 5.00%, 05/15/29

     1,250       1,237,953  

Series A, 5.00%, 05/15/30

     8,000       7,928,877  

Series A, 4.00%, 07/01/52(a)

     3,500       3,364,280  

Series A, 4.00%, 09/01/52(a)

     15,000       13,956,331  

Series A, 5.00%, 06/01/53(a)

     11,185       10,996,789  

Series B, 5.00%, 12/01/52(a)

     20,190       19,920,146  

Series C, 4.00%, 05/01/52(a)

     5,360       5,052,901  

Main Street Natural Gas, Inc., Refunding RB, Series E-1, 5.00%, 12/01/53(a)

     9,865       9,789,260  

Municipal Electric Authority of Georgia, RB, Series A, 5.00%, 01/01/34

     8,000       8,120,048  

Municipal Electric Authority of Georgia, Refunding RB

    

Series A, 5.00%, 01/01/29

     2,000       2,043,670  

Series A, 5.00%, 01/01/30

     1,905       1,952,206  

Series A, Subordinate, 5.00%, 01/01/29

     1,200       1,226,202  

Series A, Subordinate, 5.00%, 01/01/30

     1,250       1,280,975  
   

 

 

  
          92,407,272  
Guam — 0.2%            

Territory of Guam, Refunding RB

    

Series A, 5.00%, 11/01/30

     500       494,244  

Series F, 5.00%, 01/01/30

     1,160       1,159,161  

Series F, 5.00%, 01/01/31

     1,250       1,243,615  
   

 

 

  
      2,897,020  
Idaho — 0.0%            

Idaho Housing & Finance Association, RB, Series A, 4.63%, 07/01/29(c)

     155       144,818  
   

 

 

  
Illinois — 10.3%            

Chicago Board of Education, Refunding GO, Series C, 5.00%, 12/01/30

     7,025       6,962,994  

Chicago Housing Authority, RB, M/F Housing

    

Series A, 5.00%, 01/01/33

     3,000       3,067,847  

Series A, 5.00%, 01/01/35

     1,500       1,524,949  

Chicago Midway International Airport, Refunding ARB, Series A, AMT, 2nd Lien, 5.00%, 01/01/33

     5,000       4,992,137  

Chicago O’Hare International Airport, Refunding RB

    

Series B, AMT, 4.00%, 01/01/27

     5,000       4,876,270  

Series B, Senior Lien, 5.00%, 01/01/33

     6,000       6,176,042  

Chicago Transit Authority Capital Grant Receipts Revenue, Refunding RB, 5.00%, 06/01/26

     3,000       3,046,434  

City of Chicago Illinois, Refunding GO, Series B, 4.00%, 01/01/30

     1,053       1,012,789  

Illinois Finance Authority, RB, 5.00%, 07/01/30

     1,500       1,618,757  

Illinois Finance Authority, Refunding RB

    

5.00%, 08/15/30

     4,515       4,770,820  
 

 

 

3  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Illinois (continued)            

Illinois Finance Authority, Refunding RB (continued)

    

Series A, 4.00%, 11/01/24

   $ 425     $ 415,705  

Series A, 5.00%, 11/01/26

     460       443,090  

Series A, 5.00%, 11/01/28

         1,745       1,633,034  

Series A, 5.00%, 11/01/29

     1,840       1,696,924  

Series A, 5.00%, 10/01/30

     1,000       1,031,705  

Series A, 5.00%, 11/01/30

     1,935       1,759,658  

Series A, 5.00%, 11/15/31

     8,415       8,478,461  

Series A, 4.00%, 10/01/32

     1,000       985,411  

Series A, 5.00%, 11/15/32

     2,075       2,089,473  

Series A, 4.00%, 02/01/33

     12,850       12,497,926  

Series A, 5.00%, 11/15/33

     2,125       2,137,639  

Series B, 5.00%, 08/15/30

     3,205       3,282,549  

Series B, 4.89%, 05/01/42(a)

     1,750       1,687,119  

Series C, 5.00%, 02/15/30

     12,000       12,420,004  

Illinois State Toll Highway Authority, Refunding RB, Series A, 4.00%, 12/01/31

     20,000       19,738,626  

Kane McHenry Cook & De Kalb Counties Unit School District No. 300, Refunding GO, Series A, 5.00%, 01/01/30

     6,350       6,532,369  

Metropolitan Pier & Exposition Authority, Refunding RB

    

5.00%, 12/15/28

     1,200       1,222,582  

5.00%, 12/15/30

     1,385       1,410,230  

Sales Tax Securitization Corp., Refunding RB, Series A, 2nd Lien, 5.00%, 01/01/30

     11,000       11,502,193  

State of Illinois, GO

    

Series A, 5.00%, 12/01/26

     10,805       11,015,190  

Series A, 5.00%, 12/01/28

     9,950       10,202,976  

Series A, 5.00%, 03/01/32

     1,500       1,547,069  

State of Illinois, Refunding GO, Series B, 5.00%, 10/01/30

     7,000       7,178,716  

Upper Illinois River Valley Development Authority, Refunding RB, 4.00%, 01/01/31(c)

     265       231,367  
   

 

 

  
          159,189,055  
Indiana — 0.5%            

City of Valparaiso Indiana, RB, AMT, 5.88%, 01/01/24

     165       165,428  

Indiana Finance Authority, Refunding RB

    

Series A, 4.13%, 12/01/26

     3,665       3,548,786  

Series B, 4.39%, 03/01/39(a)

     1,010       970,962  

Northern Indiana Commuter Transportation District, RB

    

5.00%, 07/01/32

     1,000       1,017,955  

5.00%, 07/01/33

     1,400       1,423,576  
   

 

 

  
      7,126,707  
Iowa(a) — 1.5%            

Iowa Finance Authority, RB, AMT, 1.50%, 01/01/42

     2,750       2,705,892  

PEFA, Inc., RB, 5.00%, 09/01/49

     21,415       21,258,655  
   

 

 

  
      23,964,547  
Kansas — 0.3%            

City of Lenexa Kansas, Refunding RB, Series A, 5.00%, 05/15/24

     1,550       1,543,867  

City of Manhattan Kansas, RB

    

Series B-1, 2.88%, 06/01/28

     70       61,774  

Series B-2, 2.38%, 06/01/27

     425       425,000  
Security  

Par

(000)

     Value  
Kansas (continued)            

City of Manhattan Kansas, Refunding RB, Series A, 4.00%, 06/01/26

   $ 315     $ 298,914  

City of Shawnee Kansas, RB, 4.00%, 08/01/31(c)

     500       441,077  

Wyandotte County-Kansas City Unified Government Utility System Revenue, RB, Series A, 5.00%, 09/01/33

         1,370       1,398,819  
   

 

 

  
      4,169,451  
Kentucky — 0.9%            

Kentucky Public Energy Authority, RB, Series A-1, 4.00%, 08/01/52(a)

     4,225       3,911,643  

Kentucky Public Transportation Infrastructure Authority, RB, CAB

    

Series B, 0.00%, 07/01/30(b)

     1,230       826,609  

Series C, Convertible, 6.40%, 07/01/33(e)

     1,500       1,682,118  

Louisville/Jefferson County Metropolitan Government, Refunding RB, Series A, 5.00%, 10/01/32

     7,300       7,429,707  
   

 

 

  
      13,850,077  
Louisiana — 1.3%            

City of Ruston Louisiana Sales Tax Revenue, RB

    

(AGM), 5.00%, 06/01/29

     1,060       1,084,660  

(AGM), 5.00%, 06/01/30

     1,000       1,022,263  

(AGM), 5.00%, 06/01/31

     1,020       1,042,111  

(AGM), 5.00%, 06/01/32

     1,225       1,250,402  

Louisiana Local Government Environmental Facilities & Community Development Authority, RB, 5.00%, 08/15/30

     4,700       4,787,243  

Louisiana Local Government Environmental Facilities & Community Development Authority, Refunding RB, Series A, 2.00%, 06/01/30

     1,250       1,055,655  

Louisiana Public Facilities Authority, RB(c)

    

Series A, 5.00%, 06/01/29

     700       669,133  

Series A, 5.00%, 04/01/30

     520       472,104  

Series A, 5.00%, 06/01/31

     500       458,415  

Louisiana Public Facilities Authority, Refunding RB

    

5.00%, 05/15/29

     1,235       1,249,654  

5.00%, 05/15/30

     990       1,000,513  

3.00%, 05/15/31

     2,225       1,926,451  

5.00%, 05/15/32

     1,485       1,498,120  

5.00%, 05/15/33

     2,175       2,191,388  
   

 

 

  
      19,708,112  
Maine — 0.2%            

City of Portland Maine General Airport Revenue, Refunding RB

    

5.00%, 01/01/33

     695       715,752  

5.00%, 01/01/34

     305       313,322  

4.00%, 01/01/35

     1,000       920,954  

Maine Turnpike Authority, RB

    

5.00%, 07/01/29

     300       319,432  

5.00%, 07/01/30

     275       295,593  
   

 

 

  
          2,565,053  
Maryland — 1.7%            

Anne Arundel County Consolidated Special Taxing District, ST

    

4.20%, 07/01/24

     165       164,365  

4.90%, 07/01/30

     1,315       1,290,333  
 

 

 

S C H E D U L E   O F   I N V E S T M E N  T S   4

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

      Value  
Maryland (continued)             

City of Baltimore Maryland, Refunding RB, 5.00%, 09/01/31

   $ 1,250      $ 1,179,950  

County of Prince George’s Maryland, TA, 5.00%, 07/01/30(c)

     585        559,027  

Howard County Housing Commission, RB, M/F Housing, 5.00%, 12/01/33

         1,765        1,780,071  

Maryland Health & Higher Educational Facilities Authority, Refunding RB

     

5.00%, 07/01/29

     2,200        2,206,715  

5.00%, 07/01/31

     2,400        2,425,526  

5.00%, 07/01/32

     500        510,692  

5.00%, 07/01/33

     2,585        2,611,449  

5.00%, 07/01/34

     775        787,844  

Series A, 5.00%, 01/01/31

     2,865        2,890,718  

Series A, 5.00%, 01/01/32

     3,010        3,036,351  

Series A, 5.00%, 01/01/33

     3,165        3,191,830  

State of Maryland, GO, 1st Series, 3.00%, 03/15/34

     5,000        4,361,700  
    

 

 

  
           26,996,571  
Massachusetts — 1.1%             

Commonwealth of Massachusetts, GO, Series I, 5.00%, 12/01/33

     5,000        5,196,808  

Massachusetts Bay Transportation Authority Sales Tax Revenue, Refunding RB, CAB, Series A, 0.00%, 07/01/32(b)

     4,000        2,597,119  

Massachusetts Development Finance Agency, RB, Series A, 5.00%, 01/01/33

     1,070        1,070,840  

Massachusetts Development Finance Agency, Refunding RB

     

Series A, 5.00%, 01/01/32

     2,020        2,024,565  

Series A, 5.00%, 01/01/33

     1,500        1,501,533  

Series A, 5.00%, 01/01/34

     2,085        2,078,256  

Series A, 5.00%, 01/01/35

     2,000        1,977,225  
    

 

 

  
       16,446,346  
Michigan — 2.6%             

City of Detroit Michigan, GO

     

5.00%, 04/01/26

     735        739,612  

5.00%, 04/01/27

     580        582,341  

5.00%, 04/01/28

     665        666,624  

5.00%, 04/01/29

     665        666,236  

5.00%, 04/01/30

     510        507,958  

5.00%, 04/01/31

     735        729,595  

5.00%, 04/01/32

     625        618,788  

5.00%, 04/01/33

     830        819,902  

Michigan Finance Authority, Refunding RB

     

5.00%, 04/15/30

     4,000        4,211,915  

4.94%, 04/15/47(a)

     16,595        16,545,587  

Michigan State Housing Development Authority, RB, M/F Housing, Series A, 0.55%, 04/01/25

     985        929,861  

Michigan Strategic Fund, RB

     

AMT, 5.00%, 06/30/30

     1,325        1,339,916  

AMT, 5.00%, 12/31/32

     2,000        2,013,672  

AMT, 4.00%, 10/01/61(a)

     3,690        3,579,821  

Michigan Strategic Fund, Refunding RB

     

5.00%, 11/15/29

     1,260        1,211,932  

5.00%, 11/15/34

     1,410        1,303,624  
Security  

Par

(000)

     Value  
Michigan (continued)            

Saginaw Valley State University, Refunding RB

    

Series A, 5.00%, 07/01/31

   $ 2,070     $ 2,105,081  

Series A, 5.00%, 07/01/32

         1,430       1,453,676  

State of Michigan Trunk Line Revenue, RB, 5.00%, 11/15/30

     800       863,568  
   

 

 

  
      40,889,709  
Minnesota — 0.5%            

City of Spring Lake Park Minnesota, RB, 4.00%, 06/15/29

     1,185       1,075,180  

Minnesota Housing Finance Agency, RB, S/F Housing

    

Series L, AMT, (FHLMC, FNMA, GNMA), 4.90%, 01/01/30

     465       460,166  

Series L, AMT, (FHLMC, FNMA, GNMA), 4.95%, 07/01/30

     490       484,829  

Sartell-St Stephen Independent School District No. 748, GO, CAB(b)

    

Series B, 0.00%, 02/01/30

     3,915       2,816,741  

Series B, 0.00%, 02/01/31

     2,190       1,491,522  

Series B, 0.00%, 02/01/32

     1,450       934,248  
   

 

 

  
      7,262,686  
Mississippi — 1.3%            

Mississippi Development Bank, Refunding RB

    

Series A, (AGM), 5.00%, 03/01/30

     2,280       2,328,576  

Series A, (AGM), 5.00%, 03/01/31

     1,595       1,628,767  

Series A, (AGM), 5.00%, 03/01/32

     2,000       2,041,728  

Series A, (AGM), 5.00%, 03/01/33

     1,275       1,301,183  

State of Mississippi Gaming Tax Revenue, RB, Series E, 5.00%, 10/15/33

     12,225       12,356,492  
   

 

 

  
          19,656,746  
Missouri — 0.5%            

Health & Educational Facilities Authority of the State of Missouri, Refunding RB

    

5.00%, 05/15/31

     1,175       1,201,684  

4.00%, 05/15/32

     1,680       1,646,278  

4.00%, 05/15/33

     2,000       1,946,284  

Series A, 4.00%, 11/15/33

     2,010       1,919,330  

Industrial Development Authority of the City of St. Louis Missouri, Refunding RB, Series A, 3.88%, 11/15/29

     810       668,907  

St Louis Land Clearance for Redevelopment Authority, Refunding RB, 3.88%, 10/01/35

     410       350,099  
   

 

 

  
      7,732,582  
Montana — 0.6%            

City of Forsyth Montana,Refunding RB, Series A, 3.90%, 03/01/31(a)

     10,050       9,084,504  
   

 

 

  
Nebraska — 0.0%            

Elkhorn School District, GO

    

4.00%, 12/15/32

     325       318,912  

4.00%, 12/15/33

     375       365,464  
   

 

 

  
      684,376  
Nevada — 0.4%            

County of Clark Nevada, Refunding GO, Series B, 4.00%, 11/01/34

     5,000       4,859,116  
 

 

 

5  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Nevada (continued)            

State of Nevada Department of Business & Industry, RB

    

Series A, 5.00%, 07/15/27

   $ 290     $ 286,412  

Series A, 4.50%, 12/15/29(c)

     485       447,626  
   

 

 

  
          5,593,154  
New Hampshire — 0.6%            

New Hampshire Business Finance Authority, Refunding RB

    

4.00%, 01/01/28

     285       266,785  

4.00%, 01/01/29

     300       277,996  

4.00%, 01/01/30

     280       256,162  

Class A, AMT, 4.47%, 10/01/33(a)

     7,180       7,065,561  

Series A, AMT, 4.00%, 11/01/27(c)

     2,205       2,000,900  
   

 

 

  
      9,867,404  
New Jersey — 16.5%            

Atlantic City Board of Education, Refunding GO

    

(AGM), 4.00%, 04/01/30

     170       164,573  

(AGM), 4.00%, 04/01/31

     175       168,396  

Industrial Pollution Control Financing Authority of Gloucester County, Refunding RB, Series A, AMT, 5.00%, 12/01/24(f)

     480       479,600  

New Jersey Economic Development Authority, ARB

    

5.25%, 09/15/29

     6,500       6,336,188  

Series A, AMT, 5.63%, 11/15/30

     1,740       1,742,740  

Series B, AMT, 5.63%, 11/15/30

     1,315       1,310,081  

New Jersey Economic Development Authority, RB

    

Series A, 4.00%, 06/15/29(c)

     525       475,096  

Series A, 4.00%, 07/01/29

     335       318,869  

Series A, 5.00%, 06/15/32

     4,500       4,636,117  

Series C, 5.00%, 06/15/32

     3,600       3,708,894  

Series DDD, 5.00%, 06/15/27(d)

     2,000       2,091,863  

Series QQQ, 5.00%, 06/15/30

     600       631,045  

AMT, 5.00%, 01/01/28

     4,705       4,626,843  

New Jersey Economic Development Authority, Refunding RB

    

(AGM), 5.00%, 06/01/28

     1,000       1,018,025  

5.00%, 01/01/29

     2,280       2,142,861  

(AGM), 5.00%, 06/01/30

     1,500       1,528,095  

(AGM), 5.00%, 06/01/31

     1,750       1,782,192  

(AGM), 4.00%, 06/01/32

     2,125       2,011,454  

Series MMM, 4.00%, 06/15/35

     5,000       4,760,617  

Sub-Series A, 4.00%, 07/01/32

     9,855       9,240,445  

Series A, AMT, 2.20%, 10/01/39(a)

     4,000       3,300,108  

New Jersey Economic Development Authority, Refunding SAB, 5.75%, 04/01/31

     5,000       4,472,478  

New Jersey Educational Facilities Authority, RB, Series A, 4.00%, 09/01/30

     5,860       5,716,213  

New Jersey Health Care Facilities Financing Authority, Refunding RB

    

5.00%, 07/01/28

     1,500       1,499,918  

5.00%, 07/01/29

     4,150       4,225,429  

5.00%, 07/01/30

     3,500       3,555,222  

Series A, 5.00%, 07/01/30

         11,245       11,529,970  

New Jersey Higher Education Student Assistance Authority, RB

    

Series 1A, AMT, 5.00%, 12/01/25

     5,500       5,537,132  

Series 1A, AMT, 5.00%, 12/01/26

     2,250       2,261,836  

Series A, AMT, 4.00%, 12/01/32

     900       867,768  

Series A, AMT, 4.00%, 12/01/33

     725       699,036  
Security  

Par

(000)

     Value  
New Jersey (continued)            

New Jersey Higher Education Student Assistance Authority, RB (continued)

    

Series A, AMT, 4.00%, 12/01/34

   $ 360     $ 348,892  

Series A, AMT, 4.00%, 12/01/35

     360       350,009  

Series B, AMT, 5.00%, 12/01/23

     50       49,997  

Series B, AMT, 5.00%, 12/01/30

     5,000       5,071,705  

New Jersey Higher Education Student Assistance Authority, Refunding RB, Series A, AMT, 5.00%, 12/01/23

     215       214,986  

New Jersey Housing & Mortgage Finance Agency, Refunding RB, Series A, AMT, 3.80%, 10/01/32

     10,165       9,192,030  

New Jersey Transportation Trust Fund Authority, RB

    

Series AA, 5.25%, 06/15/27

     4,225       4,300,565  

Series AA, 5.25%, 06/15/28

     4,500       4,580,520  

Series BB, 5.00%, 06/15/30

     1,500       1,562,116  

Series C, (NPFGC), 0.00%, 12/15/30(b)

         45,000       32,751,065  

Series C, 5.25%, 06/15/32

     10,000       10,065,354  

Series D, 5.00%, 06/15/32

     5,000       5,050,840  

New Jersey Transportation Trust Fund Authority, Refunding RB

    

Series A, 5.00%, 06/15/30

     6,600       6,714,062  

Series A, 5.00%, 12/15/30

     21,325       22,188,727  

Newark Housing Authority, Refunding RB, (NPFGC), 5.25%, 01/01/27

     5,000       5,126,971  

South Jersey Transportation Authority, Refunding RB, Series A, 5.00%, 11/01/33

     500       503,290  

State of New Jersey, GO, Series A, 4.00%, 06/01/30

     26,000       25,879,042  

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.00%, 06/01/30

     16,740       17,263,504  

Series A, 5.00%, 06/01/32

     8,270       8,515,355  

Township of Irvington New Jersey, Refunding GO, Series A, (AGM), 5.00%, 07/15/24(d)

     3,450       3,476,411  
   

 

 

  
          256,044,545  
New Mexico — 0.1%            

City of Santa Fe New Mexico, RB, Series A, 5.00%, 05/15/34

     480       416,282  

City of Santa Fe New Mexico, Refunding RB, 5.00%, 05/15/32

     1,000       887,147  

New Mexico Educational Assistance Foundation, RB

    

Series A-1, AMT, 3.75%, 09/01/31

     100       94,875  

Series A-1, AMT, 3.88%, 04/01/34

     20       18,723  

Series A-2, AMT, 3.80%, 11/01/32

     100       94,383  

Series A-2, AMT, 3.80%, 09/01/33

     100       93,479  
   

 

 

  
      1,604,889  
New York — 5.5%            

Build NYC Resource Corp., Refunding RB, AMT, 4.50%, 01/01/25(c)

     280       280,333  

County of Nassau New York, GO

    

Series A, (AGM), 5.00%, 04/01/34

     4,165       4,319,073  

Series A, (AGM), 5.00%, 04/01/35

     4,385       4,528,502  

Genesee County Funding Corp., Refunding RB, Series A, 5.00%, 12/01/30

     500       501,779  

Hempstead Town Local Development Corp., Refunding RB

    

5.00%, 06/01/30

     200       208,628  

5.00%, 06/01/31

     300       313,533  

5.00%, 06/01/32

     100       104,333  

Metropolitan Transportation Authority, Refunding RB 2nd Sub Series, (AGM), 4.36%, 11/01/32(a)

     2,875       2,806,798  
 

 

 

S C H E D U L E   O F   I N V E S T M E N  T S   6

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
New York (continued)            

Metropolitan Transportation Authority, Refunding RB (continued)

    

Sub-Series C-1, 5.00%, 11/15/34

   $ 10,000     $ 10,150,253  

Metropolitan Transportation Authority, Refunding RB, CAB, Series A, 0.00%, 11/15/30(b)

     13,000       9,270,098  

New York City Transitional Finance Authority Future Tax Secured Revenue, RB, Sub-Series B-1, 5.00%, 08/01/30

     4,980       5,185,410  

New York State Energy Research & Development Authority, Refunding RB, Series D, 3.50%, 10/01/29

     9,000       8,400,522  

New York State Environmental Facilities Corp., RB, AMT, 5.13%, 09/01/50(a)(c)

     2,250       2,168,453  

New York Transportation Development Corp., ARB

    

AMT, 5.00%, 01/01/30

     2,590       2,535,724  

AMT, 5.00%, 01/01/31

     5,000       4,869,873  

Series A, AMT, 4.00%, 07/01/32

     5,500       4,968,392  

Series A, AMT, 4.00%, 07/01/33

     6,000       5,450,383  

New York Transportation Development Corp., RB

    

AMT, 4.00%, 10/01/30

         13,140       12,062,970  

AMT, 4.00%, 10/31/34

     350       311,392  

New York Transportation Development Corp., Refunding ARB, AMT, 3.00%, 08/01/31

     2,275       1,911,377  

New York Transportation Development Corp., Refunding RB

    

Series A, AMT, 5.00%, 12/01/28

     350       350,287  

Series A, AMT, 5.00%, 12/01/29

     235       234,234  

Series A, AMT, 5.00%, 12/01/30

     250       250,648  

Port Authority of New York & New Jersey, Refunding ARB, Series 223, AMT, 5.00%, 07/15/30

     3,730       3,844,911  
   

 

 

  
          85,027,906  
North Carolina — 1.8%            

City of Charlotte North Carolina, Refunding GO

    

Series A, 5.00%, 06/01/28

     330       350,244  

Series A, 5.00%, 06/01/29

     350       375,299  

Series A, 5.00%, 06/01/30

     485       524,868  

North Carolina Medical Care Commission, RB

    

4.00%, 09/01/33

     175       151,949  

4.00%, 09/01/34

     185       157,635  

Series A, 4.00%, 10/01/27

     600       585,132  

North Carolina Medical Care Commission, Refunding RB, 5.00%, 10/01/30

     1,500       1,415,659  

North Carolina Turnpike Authority, Refunding RB, CAB, Series C, (SAP), 0.00%, 07/01/30(b)

     550       369,296  

University of North Carolina at Chapel Hill, Refunding RB(a)

    

Series A, 4.21%, 12/01/34

     7,000       6,676,085  

Series A, 4.21%, 12/01/41

     17,845       17,760,502  
   

 

 

  
      28,366,669  
Ohio — 1.4%            

Akron Bath Copley Joint Township Hospital District, Refunding RB, Class A, 5.00%, 11/15/30

     1,010       1,055,351  

Allen County Port Authority, Refunding RB, Series A, 4.00%, 12/01/31

     460       415,568  

American Municipal Power, Inc., Refunding RB, Series A-2, 1.00%, 02/15/48(a)

     6,000       5,850,116  

Ohio Air Quality Development Authority, Refunding RB

    

3.25%, 09/01/29

     4,450       4,021,793  

4.00%, 09/01/30(a)

     1,650       1,614,110  
Security  

Par

(000)

     Value  
Ohio (continued)            

Ohio Air Quality Development Authority, Refunding RB (continued)

    

Series A, AMT, 4.25%, 11/01/39(a)

   $ 1,525     $ 1,491,244  

Ohio State University, RB, Class A, 5.00%, 12/01/30

     3,320       3,585,552  

State of Ohio, RB

    

AMT, (AGM), 5.00%, 12/31/29

     1,625       1,642,951  

AMT, (AGM), 5.00%, 12/31/30

     2,400       2,424,314  
   

 

 

  
          22,100,999  
Oklahoma — 0.9%            

Norman Regional Hospital Authority, Refunding RB

    

5.00%, 09/01/27

     2,100       2,090,887  

5.00%, 09/01/28

     2,000       1,987,712  

5.00%, 09/01/29

     2,150       2,128,714  

5.00%, 09/01/30

         5,130       5,058,503  

Oklahoma Capitol Improvement Authority, RB, Series B, 5.00%, 07/01/30

     2,150       2,292,637  
   

 

 

  
      13,558,453  
Oregon — 0.9%            

Oregon Health & Science University, Refunding RB, Series B, 5.00%, 07/01/35

     7,390       7,497,143  

Oregon State Facilities Authority, Refunding RB, Series B, 5.00%, 06/01/30

     4,750       4,925,134  

Port of Morrow Oregon, Refunding GO

    

Series A, 4.00%, 06/01/30

     1,205       1,181,584  

Series D, 4.00%, 12/01/30

     880       860,972  
   

 

 

  
      14,464,833  
Pennsylvania — 18.2%            

Allegheny County Higher Education Building Authority Refunding RB, 4.01%, 02/01/33(a)

     6,250       6,157,013  

Allegheny County Hospital Development Authority, RB, Series D2, 4.89%, 11/15/47(a)

     5,205       5,185,586  

Allegheny County Hospital Development Authority, Refunding RB

    

Series A, 5.00%, 04/01/31

     3,075       3,139,673  

Series A, 5.00%, 04/01/34

     3,345       3,395,473  

Series A, 5.00%, 04/01/35

     1,000       1,010,933  

Allentown City School District, Refunding GO, Series B, (BAM SAW), 5.00%, 02/01/31

     4,000       4,150,771  

Allentown Neighborhood Improvement Zone Development Authority, RB(c)

    

5.00%, 05/01/28

     835       838,826  

5.00%, 05/01/32

     9,310       9,155,475  

Allentown Neighborhood Improvement Zone Development Authority, Refunding RB

    

5.00%, 05/01/29

     450       449,380  

5.00%, 05/01/30

     450       448,182  

Bucks County Industrial Development Authority, RB

    

5.00%, 07/01/29

     555       507,455  

5.00%, 07/01/30

     700       625,747  

Chester County Health and Education Facilities Authority, Refunding RB

    

Series A, 5.00%, 12/01/30

     2,180       1,845,500  

Series A, 5.00%, 10/01/32

     1,450       1,476,044  

Chester County Industrial Development Authority, SAB, 4.38%, 03/01/28(c)

     197       192,846  

City of Philadelphia Pennsylvania Airport Revenue, Refunding RB, Series A, 5.00%, 07/01/30

     5,000       5,305,313  
 

 

 

7  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Pennsylvania (continued)            

City of Philadelphia Pennsylvania, Refunding GO

    

(AGM), 5.00%, 08/01/30

   $     9,235     $ 9,539,462  

(AGM), 4.00%, 08/01/32

     6,000       5,831,790  

Series A, 5.00%, 08/01/30

     4,500       4,663,844  

Clarion County Industrial Development Authority, Refunding RB, AMT, 2.45%, 12/01/39(a)

     4,200       3,664,591  

Commonwealth Financing Authority, RB, 5.00%, 06/01/32

     6,000       6,119,617  

Commonwealth of Pennsylvania, Refunding GO, 1st Series, 4.00%, 01/01/30

     7,000       6,971,404  

Cumberland County Municipal Authority, Refunding RB

    

5.00%, 01/01/29

     570       558,809  

5.00%, 01/01/30

     1,285       1,253,994  

5.00%, 01/01/32

     1,510           1,464,224  

Dauphin County General Authority, Refunding RB, Series A, 4.00%, 06/01/31

     2,275       2,248,829  

East Hempfield Township Industrial Development Authority, RB, 5.00%, 07/01/25(d)

     825       838,130  

Geisinger Authority, Refunding RB

    

Series A-2, 5.00%, 02/15/32

     4,000       4,058,158  

Series A-2, 5.00%, 02/15/34

     1,750       1,768,746  

Lancaster County Hospital Authority, Refunding RB, Series A, 3.00%, 08/15/30

     2,535       2,342,599  

Latrobe Industrial Development Authority, Refunding RB, 5.00%, 03/01/30

     150       145,328  

Lehigh County Industrial Development Authority, Refunding RB, Series A, 3.00%, 09/01/29

     15,000       13,834,172  

Montgomery County Higher Education and Health Authority, Refunding RB

    

4.00%, 09/01/35

     1,735       1,582,452  

4.00%, 09/01/36

     1,500       1,344,518  

Series A, 5.00%, 09/01/31

     1,750       1,781,205  

Series A, 5.00%, 09/01/32

     1,315       1,325,123  

Montgomery County Industrial Development Authority, Refunding RB

    

5.00%, 01/01/30

     2,000       1,815,996  

4.10%, 04/01/53(a)

     7,905       7,809,064  

Series A, 5.25%, 01/15/25(d)

     3,250       3,296,036  

Northampton County General Purpose Authority, Refunding RB, 5.00%, 11/01/34

     5,400       5,588,714  

Pennsylvania Economic Development Financing Authority, RB

    

Series A-1, 5.00%, 04/15/30

     2,500       2,619,977  

AMT, 5.00%, 12/31/29

     8,750       8,794,325  

AMT, 5.00%, 06/30/30

     3,500       3,526,729  

AMT, 5.00%, 12/31/30

     13,100       13,128,261  

AMT, 5.00%, 12/31/34

     16,500           16,278,993  

Pennsylvania Economic Development Financing Authority, Refunding RB, 5.00%, 03/15/31

     4,500       4,600,149  

Pennsylvania Higher Educational Facilities Authority, RB, Series AT-1, 5.00%, 06/15/30

     7,910       8,144,766  

Pennsylvania Higher Educational Facilities Authority, Refunding RB

    

5.00%, 05/01/30

     425       428,222  

5.00%, 05/01/31

     1,275       1,283,724  

4.00%, 05/01/32

     3,000       2,451,228  

5.00%, 05/01/32

     1,750       1,760,753  
Security  

Par

(000)

     Value  
Pennsylvania (continued)            

Pennsylvania Higher Educational Facilities Authority, Refunding RB (continued)

    

5.00%, 05/01/33

   $ 3,320     $ 3,337,104  

5.00%, 05/01/35

     1,000       1,001,185  

Pennsylvania Housing Finance Agency, RB, S/F Housing

    

Series 137, 1.90%, 04/01/30

     1,625       1,380,582  

Series 137, 1.95%, 10/01/30

     875       734,024  

Pennsylvania Housing Finance Agency, Refunding RB, Series 125A, AMT, 3.40%, 10/01/32

         8,890       7,886,271  

Pennsylvania Turnpike Commission, RB

    

Series B, 5.00%, 12/01/29

     800       853,833  

Series B, 5.00%, 12/01/30

     620       666,249  

Sub-Series B-1, 5.00%, 06/01/31

     3,000       3,099,848  

Sub-Series B-1, 5.00%, 06/01/32

     4,075       4,206,163  

Sub-Series B-1, 5.00%, 06/01/33

     4,000       4,121,432  

Pennsylvania Turnpike Commission, Refunding RB

    

2nd Series, 5.00%, 12/01/32

     1,000       1,035,592  

2nd Series, 5.00%, 12/01/35

     2,005       2,051,651  

2nd Sub Series, 5.00%, 12/01/33

     1,815       1,874,606  

2nd Sub Series, 5.00%, 12/01/34

     1,500       1,543,767  

Series B, 5.00%, 12/01/30

     330       354,617  

Sub-Series B-2, (AGM), 5.00%, 06/01/34

     4,000       4,111,444  

Philadelphia Authority for Industrial Development, RB, 4.00%, 06/15/29

     300       270,285  

Philadelphia Gas Works Colorado, RB, Series A, (AGM), 5.00%, 08/01/30

     800       842,266  

Philadelphia Gas Works Colorado, Refunding RB, Series 14-T, 5.00%, 10/01/30

     425       433,738  

Pittsburgh Water & Sewer Authority, RB, Series B, (AGM), 5.00%, 09/01/30

     205       216,927  

School District of Philadelphia, GO(g)

    

Series A, 5.00%, 09/01/24

     1,500       1,509,584  

Series A, 5.00%, 09/01/25

     1,300       1,319,287  

Series A, 5.00%, 09/01/26

     3,250       3,330,009  

Series A, 5.00%, 09/01/27

     2,675       2,764,203  

Series A, 5.00%, 09/01/28

     1,630       1,696,522  

Series A, 5.00%, 09/01/30

     2,380           2,494,990  

Southeastern Pennsylvania Transportation Authority, RB, 5.00%, 06/01/30

     5,000       5,286,895  

Wayne County Hospital & Health Facilities Authority, RB

    

Series A, (GTD), 5.00%, 07/01/31

     460       471,332  

Series A, (GTD), 4.00%, 07/01/33

     440       416,186  

West Cornwall Township Municipal Authority, Refunding RB

    

Series A, 4.00%, 11/15/27

     130       124,312  

Series A, 4.00%, 11/15/28

     105       99,205  

Series A, 4.00%, 11/15/29

     140       129,222  

Series A, 4.00%, 11/15/30

     190       173,430  

Series A, 4.00%, 11/15/31

     200       180,621  

Westmoreland County Municipal Authority, Refunding RB

    

(BAM), 5.00%, 08/15/27

     1,500       1,528,760  

(BAM), 5.00%, 08/15/31

     5,000       5,196,219  

(BAM), 5.00%, 08/15/32

     17,945       18,632,031  
   

 

 

  
          282,122,541  
 

 

 

S C H E D U L E   O F   I N V E S T M E N  T S   8

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Puerto Rico — 5.1%            

Commonwealth of Puerto Rico, GO

    

Series A-1, Restructured, 5.63%, 07/01/29

   $ 1,534     $ 1,566,797  

Series A-1, Restructured, 5.75%, 07/01/31

         5,097       5,240,145  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB(b)

    

Series A-1, Restructured, 0.00%, 07/01/29

     14,055       10,715,348  

Series A-1, Restructured, 0.00%, 07/01/31

     38,523           26,538,930  

Series A-1, Restructured, 0.00%, 07/01/33

     43,149       26,651,949  

Series B-1, Restructured, 0.00%, 07/01/31

     5,755       3,963,400  

Series B-1, Restructured, 0.00%, 07/01/33

     6,477       4,001,435  
   

 

 

  
      78,678,004  
Rhode Island — 1.0%            

Rhode Island Health and Educational Building Corp., Refunding RB, 5.00%, 05/15/30

     1,500       1,464,718  

Rhode Island Student Loan Authority, RB

    

Series A, AMT, 5.00%, 12/01/29

     1,950       1,981,641  

Series A, AMT, 5.00%, 12/01/30

     1,300       1,325,237  

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.00%, 06/01/28

     2,750       2,760,668  

Series A, 5.00%, 06/01/29

     4,500       4,517,555  

Series A, 5.00%, 06/01/30

     4,215       4,230,380  
   

 

 

  
      16,280,199  
South Carolina — 1.0%            

Patriots Energy Group Financing Agency, RB, Series A1, 5.25%, 10/01/54(a)

     3,200       3,188,210  

South Carolina Jobs-Economic Development Authority, Refunding RB, Series A, 5.00%, 05/01/35

     10,000       10,019,817  

South Carolina Public Service Authority, Refunding RB, Series A, 5.00%, 12/01/31

     2,800       2,900,267  
   

 

 

  
      16,108,294  
Tennessee — 1.3%            

Chattanooga Health Educational & Housing Facility Board, Refunding RB, Series A, 4.00%, 08/01/36

     2,000       1,776,231  

Chattanooga-Hamilton County Hospital Authority, Refunding RB, Series A, 5.00%, 10/01/31

     6,210       6,215,603  

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, Series A, 5.00%, 07/01/31

     1,300       1,321,277  

Tennergy Corp., RB, Series A, 4.00%, 12/01/51(a)

     6,000       5,660,750  

Tennessee Energy Acquisition Corp., RB, Series A, 5.00%, 05/01/52(a)

     5,000       4,894,165  
   

 

 

  
      19,868,026  
Texas — 14.5%            

Arlington Higher Education Finance Corp., RB, 4.00%, 06/15/31

     3,030       2,604,335  

Central Texas Regional Mobility Authority, RB, Series A, Senior Lien, 5.00%, 07/01/25(d)

     4,275       4,348,039  

Central Texas Turnpike System, RB

    

Series C, 5.00%, 08/15/32

     12,500       12,487,698  

Series C, 5.00%, 08/15/33

     14,000       13,712,912  

City of Austin Texas Airport System Revenue, ARB, AMT, 5.00%, 11/15/30

     2,000       2,042,273  

City of Austin Texas Water & Wastewater System Revenue, Refunding RB, Series C, 5.00%, 11/15/30

     900       963,710  

City of Houston Texas Airport System Revenue, ARB AMT, 5.00%, 07/15/28

     3,000       2,945,842  
Security  

Par

(000)

     Value  
Texas (continued)            

City of Houston Texas Airport System Revenue, ARB (continued)

    

Series B-1, AMT, 5.00%, 07/15/30

   $     1,900     $ 1,830,750  

City of Houston Texas Airport System Revenue, Refunding RB

    

Sub-Series D, 5.00%, 07/01/33

     7,000           7,293,818  

AMT, 4.75%, 07/01/24

     3,135       3,123,809  

AMT, 5.00%, 07/01/29

     9,000       8,755,832  

Series C, AMT, 5.00%, 07/15/27

     2,000       1,940,457  

Sub-Series A, AMT, 5.00%, 07/01/30

     1,200       1,228,603  

City of Houston Texas Combined Utility System Revenue, Refunding RB, Series B, 1st Lien, Subordinate, 5.00%, 11/15/34

     7,315       7,509,216  

Clifton Higher Education Finance Corp., RB, 6.00%, 08/15/33

     1,650       1,651,533  

Clifton Higher Education Finance Corp., Refunding RB

    

Series A, (PSF), 4.00%, 08/15/31

     1,250       1,225,868  

Series A, 3.95%, 12/01/32

     1,800       1,533,195  

County of Nueces Texas, Refunding GO

    

4.00%, 02/15/33

     1,165       1,137,742  

4.00%, 02/15/35

     725       693,823  

Dallas Fort Worth International Airport, Refunding RB

    

5.00%, 11/01/32

     5,000       5,316,817  

Series A, AMT, 5.25%, 11/01/29

     6,000       6,000,000  

DeSoto Independent School District, Refunding GO, (PSF), 5.00%, 08/15/30

     3,980       4,273,854  

Harris County Cultural Education Facilities Finance Corp., RB

    

Series B, 5.75%, 01/01/28

     500       482,010  

Series B, 6.38%, 01/01/33

     40       38,518  

Harris County Cultural Education Facilities Finance Corp., Refunding RB

    

Series A, 5.00%, 06/01/28

     1,150       1,086,969  

Series A, 5.00%, 01/01/33

     1,090       949,194  

Series A, 5.00%, 06/01/33

     3,000       2,656,834  

Leander Independent School District, Refunding GO, CAB(b)

    

Series D, (PSF), 0.00%, 08/15/24(d)

     4,485       2,888,753  

Series D, (PSF), 0.00%, 08/15/31

     1,200       851,406  

Series D, (PSF), 0.00%, 08/15/32

     1,875       1,177,068  

Series D, (PSF), 0.00%, 08/15/32(d)

     125       84,579  

Love Field Airport Modernization Corp., ARB, AMT, 5.00%, 11/01/26

     430       435,427  

Matagorda County Navigation District No. 1, Refunding RB

    

Series A, (AMBAC), 4.40%, 05/01/30

     31,120       29,836,820  

Series B, (AMBAC), 4.55%, 05/01/30

     10,000       9,432,532  

Series B-2, 4.00%, 06/01/30

     12,995       12,126,926  

AMT, 4.25%, 05/01/30

     6,855       6,552,946  

Midland County Fresh Water Supply District No. 1, RB, CAB, Series A, 0.00%, 09/15/27(b)(d)

     21,370       14,817,618  

Mission Economic Development Corp., Refunding RB, AMT, Senior Lien, 4.63%, 10/01/31(c)

     3,805       3,579,529  

New Hope Cultural Education Facilities Finance Corp., RB, Series A, 4.00%, 08/15/29(c)

     335       302,505  

Socorro Independent School District, Refunding GO, Series B, (PSF), 4.00%, 08/15/34

     3,000       2,989,959  

Spring Branch Independent School District, GO, (PSF), 3.00%, 02/01/33

     5,000       4,471,936  
 

 

 

9  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Texas (continued)            

Tarrant County Cultural Education Facilities Finance Corp., RB

    

Class F, 5.00%, 11/15/52(a)

   $     3,585     $ 3,729,325  

Series B, 5.00%, 07/01/35

     6,000       6,069,510  

Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, Series A-1, 5.00%, 10/01/29

     1,000       984,261  

Texas Municipal Gas Acquisition & Supply Corp. III, Refunding RB

    

5.00%, 12/15/30

     16,435       16,051,025  

5.00%, 12/15/32

     5,000       4,845,683  

Texas Public Finance Authority, Refunding RB, 4.00%, 12/01/31

     1,650       1,636,381  

Texas Water Development Board, RB, 5.00%, 10/15/30

     3,850       4,142,800  
   

 

 

  
          224,840,640  
Utah — 0.5%            

City of Salt Lake City Utah Airport Revenue, ARB, Series A, AMT, 5.00%, 07/01/30

     2,980       3,047,435  

Utah Transit Authority, Refunding RB, Subordinate, 4.00%, 12/15/31

     5,000       4,915,189  
   

 

 

  
      7,962,624  
Virginia — 1.0%            

Dulles Town Center Community Development Authority, Refunding SAB, 4.25%, 03/01/26

     500       482,134  

Fairfax County Economic Development Authority, RB, Series A, 5.00%, 12/01/23(d)

     2,000       2,001,000  

Hanover County Economic Development Authority, Refunding RB, 4.00%, 07/01/30(c)

     1,000       848,051  

Loudoun County Economic Development Authority, RB, Series B, 4.10%, 02/15/38(a)

     10,000       10,000,000  

Norfolk Redevelopment & Housing Authority, RB, Series B, 4.00%, 01/01/25

     1,650       1,600,598  
   

 

 

  
      14,931,783  
Washington — 2.4%            

County of King Washington Sewer Revenue, Refunding RB, Series A, Junior Lien, 4.42%, 01/01/40(a)

     5,750       5,676,564  

Port of Seattle Washington, ARB

    

Series C, AMT, Intermediate Lien, 5.00%, 05/01/33

     6,695       6,739,854  

Series C, AMT, Intermediate Lien, 5.00%, 05/01/34

     6,000       6,034,845  

Washington Health Care Facilities Authority, Refunding RB, Series B, 5.00%, 08/15/35

     9,485       9,680,953  

Washington State Convention Center Public Facilities District, RB, 4.00%, 07/01/31

     4,240       3,887,613  

Washington State Housing Finance Commission, Refunding RB

    

Series A, 5.00%, 07/01/24

     350       350,062  

Series A, 5.00%, 07/01/25

     350       350,542  

Series A, 5.00%, 07/01/26

     285       286,392  

Series A, 5.00%, 07/01/27

     350       353,188  

Series A, 5.00%, 07/01/28

     550       556,943  

Series A, 5.00%, 07/01/29

     775       786,463  

Series A, 5.00%, 07/01/30

     815       828,277  
Security  

Par

(000)

     Value  
Washington (continued)            

WBRP 3.2, RB

    

Series A, 5.00%, 01/01/31

   $     1,000     $ 1,020,518  

Series A, 5.00%, 01/01/32

     1,140       1,163,933  
   

 

 

  
      37,716,147  
West Virginia — 0.2%            

West Virginia Hospital Finance Authority, RB

    

Series A, 5.00%, 06/01/31

     1,950       2,001,097  

Series A, 5.00%, 06/01/33

     1,100       1,125,362  
   

 

 

  
      3,126,459  
Wisconsin — 3.0%            

Public Finance Authority, RB(c)

    

4.00%, 06/15/30

     1,520       1,308,241  

5.00%, 01/01/31

     650       606,884  

Class A, 5.00%, 06/15/31

     720       648,971  

Series A, 4.00%, 07/15/29

     575       528,067  

Series A, 4.00%, 03/01/30

     1,305       1,206,292  

Series A, 3.75%, 06/01/30

     345       303,125  

Public Finance Authority, Refunding RB

    

4.00%, 09/01/29(c)

     325       277,471  

Class A, 3.00%, 12/01/26

     250       235,678  

Class C, 4.00%, 10/01/41(a)

     7,000       6,639,529  

AMT, 2.63%, 11/01/25

     3,000       2,836,964  

Class B, AMT, 4.00%, 10/01/46(a)

     1,750       1,729,294  

Series B, AMT, 5.25%, 07/01/28

     1,780       1,765,360  

State of Wisconsin, GO, Series A, 4.61%, 05/01/25(a)

    12,160       11,979,314  

Wisconsin Health & Educational Facilities Authority, Refunding RB

    

5.00%, 04/01/35

     2,500       2,611,238  

Series C-4, 4.74%, 08/15/54(a)

     8,200       8,179,527  

Wisconsin Housing & Economic Development Authority Home Ownership Revenue, RB, S/F Housing, Series D, (FNMA), 3.00%, 09/01/32

     7,265       6,246,871  
   

 

 

  
      47,102,826  
   

 

 

  

Total Municipal Bonds — 143.5%
(Cost: $2,353,867,855)

         2,224,276,004  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(h)(i)

 

Colorado(a) — 0.7%            

City & County of Denver Colorado Airport System Revenue, Refunding RB

    

Series A, AMT, 4.25%, 11/15/31

     8,085       7,781,406  

Series A, AMT, 4.25%, 11/15/32

     2,230       2,146,389  
   

 

 

  
      9,927,795  
Florida — 5.9%            

County of Broward Florida Airport System Revenue, RB

    

Series Q-1, 4.00%, 10/01/29

     17,200       16,828,598  

Series Q-1, 4.00%, 10/01/30

     18,095       17,704,299  

Series Q-1, 4.00%, 10/01/31

     18,820       18,413,638  
 

 

 

S C H E D U L E   O F   I N V E S T M E N  T S   10

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  

 

  
Florida (continued)            

County of Broward Florida Airport System Revenue, RB (continued)

    

Series Q-1, 4.00%, 10/01/32

   $ 19,575     $ 19,152,329  

Series Q-1, 4.00%, 10/01/33

     20,355       19,915,496  
   

 

 

  
      92,014,360  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 6.6%
(Cost: $104,359,983)

 

     101,942,155  
   

 

 

  

Total Long-Term Investments — 150.1%
(Cost: $2,458,227,838)

 

      2,326,218,159  
   

 

 

  
    Shares        

 

  

Short-Term Securities

    
Money Market Funds — 2.2%            

BlackRock Liquidity Funds, MuniCash, Institutional Class, 3.82%(j)(k)

     33,276,987       33,276,987  
   

 

 

  

Total Short-Term Securities — 2.2%
(Cost: $33,273,375)

 

     33,276,987  
   

 

 

  

Total Investments — 152.3%
(Cost: $2,491,501,213)

 

     2,359,495,146  

Other Assets Less Liabilities — 0.6%

       9,685,426  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (4.5)%

 

     (69,834,297 ) 

RVMTP Shares at Liquidation Value, Net of Deferred Offering Costs — (48.4)%

 

     (749,775,699 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 1,549,570,576  
   

 

 

  

 

(a) 

Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

(b) 

Zero-coupon bond.

 

(c) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(d) 

U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

(e) 

Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step- down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

(f) 

Security is collateralized by municipal bonds or U.S. Treasury obligations.

(g) 

When-issued security.

(h) 

Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing.

(i) 

All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire between October 1, 2029 to November 15, 2032, is $71,728,412.

(j) 

Affiliate of the Trust.

(k) 

Annualized 7-day yield as of period end.

 

    

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended October 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

                   
Affiliated Issuer  

Value at

07/31/23

     

Purchases

at Cost

     

Proceeds

from Sales

    

Net

Realized

Gain (Loss)

     

Change in

Unrealized

Appreciation

(Depreciation)

    

Value at

10/31/23

     

Shares

Held at

10/31/23

      Income     

Capital Gain

Distributions

from

Underlying

Funds

  

BlackRock Liquidity Funds, MuniCash, Institutional Class

   $ 88,184,293      $ —      $ (54,908,273 )(a)    $ 1,472      $ (505 )    $   33,276,987        33,276,987      $   615,747      $ —  
         

 

 

     

 

 

    

 

 

        

 

 

     

 

 

  

 

  (a) 

Represents net amount purchased (sold).

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access;

 

  •  

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); and

 

 

11  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal 2030 Target Term Trust (BTT)

    

 

Fair Value Hierarchy as of Period End (continued)

  •  

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy. The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

 

  
    Level 1     Level 2     Level 3     Total  

 

  

Assets

        

Investments

        

Long-Term Investments

        

Municipal Bonds

   $ —     $ 2,224,276,004     $                 —     $ 2,224,276,004  

Municipal Bonds Transferred to Tender Option Bond Trusts

     —       101,942,155       —       101,942,155  

Short-Term Securities

        

Money Market Funds

     33,276,987           —           —           33,276,987  
 

 

 

    

 

 

    

 

 

    

 

 

  
  $     33,276,987     $  2,326,218,159     $ —     $  2,359,495,146  
 

 

 

    

 

 

    

 

 

    

 

 

  

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows:

 

 

  
    Level 1     Level 2     Level 3     Total  

 

  

Liabilities

        

TOB Trust Certificates

   $ —     $ (69,569,982 )    $                 —     $ (69,569,982 ) 

RVMTP Shares at Liquidation Value

     —           (750,000,000 )          —           (750,000,000 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  
  $                 —     $  (819,569,982 )    $ —     $  (819,569,982 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

 

Portfolio Abbreviation
AGM    Assured Guaranty Municipal Corp.
AMBAC    AMBAC Assurance Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAM    Build America Mutual Assurance Co.
CAB    Capital Appreciation Bonds
COP    Certificates of Participation
FHLMC    Federal Home Loan Mortgage Corp.
FNMA    Federal National Mortgage Association
GNMA    Government National Mortgage Association
GO    General Obligation Bonds
GTD    GTD Guaranteed
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
PSF    Permanent School Fund
RB    Revenue Bond
S/F    Single-Family
Portfolio Abbreviation (continued)
SAB    Special Assessment Bonds
SAP    Subject to Appropriations
SAW    State Aid Withholding
ST    Special Tax
TA    Tax Allocation
 

 

 

S C H E D U L E   O F   I N V E S T M E N  T S   12
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