Schedule of Investments (unaudited)

October 31, 2023

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds

 

Alabama — 3.4%

 

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

  $       2,925     $ 2,818,426  

County of Jefferson Alabama Sewer Revenue, Refunding RB

    

Series A, Senior Lien, (AGM), 5.00%, 10/01/44

     540       532,037  

Series A, Senior Lien, (AGM), 5.25%, 10/01/48

     1,320       1,321,128  

Series D, Sub Lien, 7.00%, 10/01/51

     4,335       4,545,630  

Lower Alabama Gas District, RB, Series A, 5.00%, 09/01/46

     1,170       1,099,369  

Southeast Energy Authority A Cooperative District, RB(a)

   

Series A, 4.00%, 11/01/51

     5,290       4,994,110  

Series A-1, 5.50%, 01/01/53

     1,960       1,978,408  
   

 

 

  
          17,289,108  

Arizona — 3.0%

    

Arizona Industrial Development Authority,
RB(b)

    

4.38%, 07/01/39

     225       176,671  

Series A, 5.00%, 07/01/49

     210       169,188  

Series A, 5.00%, 07/01/54

     165       129,526  

Arizona Industrial Development Authority, Refunding RB, Series A, 5.38%, 07/01/50(b)

    1,185       1,033,544  

City of Phoenix Civic Improvement Corp., RB, 5.25%, 07/01/47(c)

    1,740       1,805,837  

Glendale Industrial Development Authority, RB, 5.00%, 05/15/56

     500       372,375  

Industrial Development Authority of the City of Phoenix Arizona, RB, Series A, 5.00%, 07/01/46(b)

     1,825       1,550,990  

Industrial Development Authority of the County of Pima, RB, 5.00%, 07/01/49(b)

    350       280,627  

Maricopa County Industrial Development Authority, RB, 6.38%, 07/01/58(b)

    620       561,240  

Maricopa County Industrial Development Authority, Refunding RB, Series A, 4.13%, 09/01/38

     820       720,937  

Maricopa County Pollution Control Corp., Refunding RB, Series B, 3.60%, 04/01/40

     1,250       959,987  

Salt Verde Financial Corp., RB

    

5.00%, 12/01/32

     5,635       5,560,063  

5.00%, 12/01/37

     2,000       1,938,161  
   

 

 

  
      15,259,146  

Arkansas — 0.7%

    

Arkansas Development Finance Authority, RB

    

AMT, 5.70%, 05/01/53

     975       885,228  

AMT, 4.75%, 09/01/49(b)

    1,175       1,078,551  

Series A, AMT, 4.50%, 09/01/49(b)

    1,920       1,687,976  
   

 

 

  
      3,651,755  

California — 5.8%

    

California County Tobacco Securitization Agency, Refunding RB, Series A, 5.00%, 06/01/36

     350       328,078  

California Educational Facilities Authority, RB, Series U-7, 5.00%, 06/01/46

     2,315       2,402,214  

California Enterprise Development Authority, RB, 8.00%, 11/15/62(b)

    855       755,099  

California Health Facilities Financing Authority, Refunding RB

    

5.00%, 08/01/55

     1,500       1,309,461  

Series A, 4.00%, 03/01/39

     890       767,123  
Security   Par
(000)		     Value  

California (continued)

    

California Municipal Finance Authority, ARB, AMT, Senior Lien, 4.00%, 12/31/47

   $ 780     $ 625,036  

California Municipal Finance Authority, RB, S/F Housing

    

Series A, 5.25%, 08/15/39

     205       200,193  

Series A, 5.25%, 08/15/49

     510       496,786  

California Pollution Control Financing Authority, RB, AMT, 5.00%, 11/21/45(b)

    2,130       2,011,400  

California School Finance Authority, Refunding RB, Series A, 5.00%, 07/01/51(b)

    1,700       1,512,970  

City of Los Angeles Department of Airports, ARB, AMT, 5.25%, 05/15/47

     4,400       4,370,492  

City of Los Angeles Department of Airports, Refunding ARB, AMT, Subordinate, 5.00%, 05/15/46

     1,265       1,239,556  

CSCDA Community Improvement Authority, RB, M/F Housing(b)
4.00%, 10/01/56

     245       184,481  

4.00%, 12/01/56

     355       224,038  

Series A, 4.00%, 06/01/58

     1,220       832,269  

Senior Lien, 3.13%, 06/01/57

     1,290       738,061  

Series A, Senior Lien, 4.00%, 12/01/58

     655       442,966  

Indio Finance Authority, Refunding RB, Series A, (BAM), 4.50%, 11/01/52

     2,405       2,183,222  

Kern Community College District, GO, Series C, 5.50%, 11/01/23(d)

    2,155       2,155,000  

Riverside County Transportation Commission, Refunding RB, Class B1, Senior Lien, 4.00%, 06/01/46

     2,255       1,880,078  

San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB

    

Series A, AMT, 5.50%, 05/01/28

     720       720,656  

Series A, AMT, 5.25%, 05/01/33

     560       560,298  

San Marcos Unified School District, GO, CAB(e)

   

Series B, Election 2010, 0.00%, 08/01/33

     3,000       2,021,776  

Series B, Election 2010, 0.00%, 08/01/43

     2,500       932,997  

Washington Township Health Care District, GO, Series B, Election 2004, 5.50%, 08/01/40

     830       830,288  
   

 

 

  
          29,724,538  

Colorado — 2.0%

    

Centerra Metropolitan District No. 1, TA, 5.00%, 12/01/47(b)

    250       203,858  

City & County of Denver Colorado Airport System Revenue, ARB

    

Series B, 5.25%, 11/15/32

     1,750       1,751,573  

Series A, AMT, 5.50%, 11/15/28

     500       500,351  

Series A, AMT, 5.50%, 11/15/30

     225       225,160  

Series A, AMT, 5.50%, 11/15/31

     270       270,191  

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

    

Series A, AMT, 4.13%, 11/15/53

     1,290       1,027,481  

Series D, AMT, 5.75%, 11/15/45

     1,315       1,369,715  

City & County of Denver Colorado Pledged Excise Tax Revenue, RB, CAB, Series A-2, 0.00%, 08/01/38(e)

    1,835       809,969  

Colorado Educational & Cultural Facilities Authority, RB, 5.00%, 03/01/50(b)

    320       253,967  

Colorado Health Facilities Authority, RB 5.25%, 11/01/39

     595       593,572  
 

 

 

1  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Colorado (continued)

    

Colorado Health Facilities Authority, RB (continued)

    

5.50%, 11/01/47

   $ 370     $ 370,459  

5.25%, 11/01/52

     920       875,899  

Colorado Health Facilities Authority, Refunding RB, Series A, 5.00%, 08/01/44

     495       471,137  

Denver Convention Center Hotel Authority, Refunding RB, 5.00%, 12/01/40

     1,325       1,216,357  

Denver International Business Center Metropolitan District No. 1, GO, Series A, 4.00%, 12/01/48

     495       377,232  
   

 

 

  
      10,316,921  

District of Columbia — 5.2%

    

District of Columbia Tobacco Settlement Financing Corp., Refunding RB, 6.75%, 05/15/40

     11,165       11,484,831  

District of Columbia, Refunding RB, 5.00%, 10/01/48

     2,525       2,390,918  

District of Columbia, TA, 5.13%, 06/01/41

     690       690,164  

Metropolitan Washington Airports Authority Aviation Revenue, Refunding ARB, Series A, AMT, 5.25%, 10/01/48

     5,280       5,197,893  

Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB, Series B, Subordinate, 4.00%, 10/01/49

     5,985       4,689,975  

Washington Metropolitan Area Transit Authority Dedicated Revenue, RB

    

Series A, 4.00%, 07/15/46

     1,310       1,114,249  

Series A, 4.13%, 07/15/47

     1,285       1,104,167  
   

 

 

  
      26,672,197  

Florida — 5.2%

    

Brevard County Health Facilities Authority, Refunding RB, Series A, 5.00%, 04/01/47

     2,460       2,337,226  

Capital Trust Agency, Inc., RB

    

Series A, 5.00%, 06/01/45(b)

    190       149,212  

Series A, 5.00%, 12/15/49

     140       122,184  

Series A, 5.00%, 12/15/54

     125       107,799  

Series A, 5.50%, 06/01/57(b)

    100       79,416  

Celebration Pointe Community Development District No. 1, SAB

    

5.00%, 05/01/32

     200       192,451  

5.00%, 05/01/48

     530       457,127  

City of Fort Lauderdale Florida Water & Sewer Revenue, RB, 5.50%, 09/01/48

     2,920       3,100,317  

City of Tampa Florida, RB, CAB, Series A, 0.00%, 09/01/45(e)

    6,275       1,621,180  

County of Broward Florida Airport System Revenue, ARB, Series A, AMT, 5.00%, 10/01/45

     575       551,340  

County of Lee Florida Airport Revenue, ARB,
Series B, AMT, 5.00%, 10/01/46

     2,230       2,130,494  

County of Miami-Dade Seaport Department, Refunding RB, Series A, AMT, 5.25%, 10/01/52

     1,455       1,388,996  

County of Pasco Florida, RB

    

(AGM), 5.00%, 09/01/48

     5,330       5,306,667  

(AGM), 5.75%, 09/01/54

     955       1,002,149  

Escambia County Health Facilities Authority, Refunding RB, 4.00%, 08/15/45

     5,675       4,391,364  

Florida Development Finance Corp., RB 6.50%, 06/30/57(b)

    750       646,466  

Series A, 5.00%, 06/15/56

     115       100,328  

AMT, 5.00%, 05/01/29(b)

    180       163,857  
Security   Par
(000)		     Value  

Florida (continued)

    

Florida Development Finance Corp., Refunding RB, Series C, 5.00%, 09/15/50(b)

  $ 105     $ 78,327  

Lakewood Ranch Stewardship District, SAB
5.25%, 05/01/37

     180       168,809  

5.38%, 05/01/47

     185       164,286  

6.30%, 05/01/54

     480       467,218  

Lee County Housing Finance Authority, RB, S/F Housing, Series A-2, AMT, (FHLMC, FNMA, GNMA), 6.00%, 09/01/40

     15       15,000  

Osceola Chain Lakes Community Development District, SAB
4.00%, 05/01/40

     270       213,470  

4.00%, 05/01/50

     260       181,447  

Stevens Plantation Community Development District, SAB, Series A, 7.10%, 05/01/35(f)(g)

    1,670       1,118,935  
   

 

 

  
      26,256,065  

Georgia — 3.6%

    

East Point Business & Industrial Development Authority, RB, Series A, 5.25%, 06/15/62(b)

    435       343,001  

Main Street Natural Gas, Inc., RB

    

Series A, 5.00%, 05/15/38

     325       309,668  

Series A, 5.00%, 05/15/49

     7,195       6,697,900  

Series B, 5.00%, 12/01/52(a)

    5,000       4,933,171  

Municipal Electric Authority of Georgia, RB
4.00%, 01/01/49

     1,200       996,202  

4.00%, 01/01/59

     3,525       2,776,586  

Series A, 5.00%, 07/01/52

     1,870       1,755,021  

Municipal Electric Authority of Georgia, Refunding RB, 4.00%, 01/01/51

     520       406,907  
   

 

 

  
      18,218,456  

Hawaii — 0.2%

    

State of Hawaii Airports System Revenue, COP

    

AMT, 5.25%, 08/01/25

     250       250,033  

AMT, 5.25%, 08/01/26

     810       810,196  
   

 

 

  
      1,060,229  

Idaho — 0.6%

    

Idaho Housing & Finance Association, RB, (GTD), 5.50%, 05/01/52

     1,250       1,239,439  

Idaho Housing & Finance Association, Refunding RB

    

(GTD), 4.00%, 05/01/42

     1,400       1,118,215  

(GTD), 4.00%, 05/01/52

     1,095       798,722  
   

 

 

  
      3,156,376  

Illinois — 11.1%

    

Chicago Board of Education, GO

    

Series A, 5.00%, 12/01/34

     1,035       1,008,275  

Series A, 5.00%, 12/01/40

     535       487,053  

Series A, 5.00%, 12/01/47

     100       87,738  

Series C, 5.25%, 12/01/35

     2,790       2,720,035  

Series D, 5.00%, 12/01/46

     3,605       3,185,323  

Series H, 5.00%, 12/01/36

     495       466,805  

Chicago Board of Education, Refunding GO

    

Series D, 5.00%, 12/01/27

     1,600       1,607,616  

Series D, 5.00%, 12/01/31

     150       148,225  

Series G, 5.00%, 12/01/34

     710       690,423  

Chicago Midway International Airport, Refunding ARB, Series A, AMT, 2nd Lien, 5.00%, 01/01/41

     1,010       952,011  

Chicago O’Hare International Airport, ARB, Class A, AMT, Senior Lien, 5.50%, 01/01/55

     2,565       2,561,452  
 

 

 

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 Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Illinois (continued)

    

Chicago O’Hare International Airport, Refunding ARB, Series B, Senior Lien, 5.00%, 01/01/53

   $           1,585     $ 1,550,715  

Chicago Transit Authority Sales Tax Receipts Fund, RB, 2nd Lien, 5.00%, 12/01/46

     1,385       1,302,449  

Chicago Transit Authority Sales Tax Receipts Fund, Refunding RB, Series A, Senior Lien, 4.00%, 12/01/49

     2,210       1,726,140  

City of Chicago Illinois Wastewater Transmission Revenue, RB, Series A, 2nd Lien, (AGM), 5.25%, 01/01/48

     2,665       2,687,267  

City of Chicago Illinois Waterworks Revenue, RB, Series A, 2nd Lien, (AGM), 5.25%, 11/01/48

     1,430       1,445,159  

Cook County Community College District No. 508, GO
5.50%, 12/01/38

     2,670       2,605,363  

5.25%, 12/01/43

     3,850       3,483,500  

Illinois Finance Authority, RB, Series A, 5.00%, 02/15/37

     480       446,080  

Illinois Finance Authority, Refunding RB

    

Series A, 4.00%, 07/15/47

     3,920       3,234,856  

Series C, 4.00%, 02/15/41

     1,405       1,217,660  

Series C, 5.00%, 02/15/41

     1,600       1,557,527  

Illinois Housing Development Authority, RB, S/F Housing, Series G, (FHLMC, FNMA, GNMA), 6.25%, 10/01/52

     3,575       3,720,668  

Illinois State Toll Highway Authority, RB, Series B, 5.00%, 01/01/40

     2,000       2,007,088  

Metropolitan Pier & Exposition Authority, RB 5.00%, 06/15/57

     2,745           2,507,690  

Series A, 5.50%, 06/15/53

     280       277,485  

Metropolitan Pier & Exposition Authority, RB, CAB, (BAM-TCRS), 0.00%, 12/15/56(e)

    2,165       330,410  

Metropolitan Pier & Exposition Authority, Refunding RB
4.00%, 06/15/50

     1,680       1,300,412  

Series B, (AGM), 0.00%, 06/15/44(e)

    8,680       2,817,958  

Metropolitan Pier & Exposition Authority, Refunding RB, CAB, Series B, 0.00%, 12/15/54(e)

    3,020       490,398  

State of Illinois, GO
5.25%, 02/01/31

     730       731,493  

5.25%, 02/01/32

     2,500       2,505,120  

5.00%, 02/01/39

     1,640       1,604,473  

Series B, 5.25%, 05/01/43

     1,115       1,098,891  

Series D, 5.00%, 11/01/28

     505       517,141  

State of Illinois, Refunding GO, Series B, 5.00%, 10/01/27

     180       184,442  

University of Illinois, RB, Series A, 5.00%, 04/01/44

     1,360       1,361,697  
   

 

 

  
      56,627,038  

Indiana — 1.1%

    

City of Valparaiso Indiana, RB

    

AMT, 6.75%, 01/01/34

     1,090       1,092,545  

AMT, 7.00%, 01/01/44

     4,625       4,635,019  
   

 

 

  
      5,727,564  

Iowa — 0.0%

    

Iowa Student Loan Liquidity Corp., Refunding RB, Series B, AMT, 3.00%, 12/01/39

     245       215,652  
   

 

 

  
Security   Par
(000)		     Value  

Kansas — 0.1%

    

City of Lenexa Kansas, Refunding RB, Series A, 5.00%, 05/15/43

   $ 400     $ 338,102  
   

 

 

  

Kentucky — 2.6%

    

Kentucky Economic Development Finance Authority, Refunding RB, Series A, 5.00%, 08/01/44

     1,115       1,053,981  

Kentucky Economic Development Finance Authority, Refunding RB, CAB, Series B, (NPFGC), 0.00%, 10/01/24(e)

    5,000       4,801,671  

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

    6,085       5,633,691  

Kentucky Public Transportation Infrastructure Authority, RB, CAB, Convertible, 6.75%, 07/01/43(h)

    1,655       1,812,978  
   

 

 

  
      13,302,321  
Louisiana — 0.7%            

Lafayette Parish School Board Sale Tax Revenue, RB
4.00%, 04/01/48

     555       476,350  

4.00%, 04/01/53

     355       296,205  

Lake Charles Harbor & Terminal District, ARB, Series B, AMT, (AGM), 5.50%, 01/01/29

     1,000       1,001,566  

New Orleans Aviation Board, ARB, Series B, AMT, 5.00%, 01/01/48

     995       903,344  

Tobacco Settlement Financing Corp. Refunding RB, Series A, 5.25%, 05/15/35

     780       780,325  
   

 

 

  
      3,457,790  
Maryland — 0.3%            

City of Baltimore Maryland, Refunding RB, Series A, 4.50%, 09/01/33

     135       122,378  

Maryland Economic Development Corp., RB, Class B, AMT, 5.25%, 06/30/47

     1,550       1,454,703  
   

 

 

  
      1,577,081  
Massachusetts — 2.0%            

Commonwealth of Massachusetts, GO

    

Series C, 5.00%, 10/01/47

     1,810       1,837,625  

Series C, 5.00%, 10/01/52

     1,875       1,899,116  

Massachusetts Development Finance Agency, RB,
Series A, 5.00%, 01/01/47

     4,555       4,117,362  

Massachusetts Development Finance Agency, Refunding RB
5.00%, 01/01/41

     525       490,360  

5.00%, 01/01/45

     375       343,693  

Massachusetts Housing Finance Agency, Refunding RB, Series A, AMT, 4.50%, 12/01/47

     675       581,447  

Massachusetts Port Authority, ARB, Series E, AMT, 5.00%, 07/01/46

     1,220       1,181,802  
   

 

 

  
          10,451,405  
Michigan — 5.3%            

City of Detroit Michigan Water Supply System Revenue, RB, Series B, 2nd Lien, (AGM), 6.25%, 07/01/36

     5       5,009  

City of Lansing Michigan, Refunding GO,
Series B, (AGM), 5.00%, 06/01/48

           3,450       3,430,331  

Grand Traverse County Hospital Finance Authority, RB, Series A, 5.00%, 07/01/44

     1,110       1,063,786  

Michigan Finance Authority, RB, 4.00%, 02/15/50

     5,250       4,243,137  
 

 

 

3  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Michigan (continued)            

Michigan State Building Authority, Refunding RB, Series I, 4.00%, 10/15/52

   $ 555     $ 448,120  

Michigan State Housing Development Authority, RB, M/F Housing

    

Series A, 5.00%, 10/01/48

           12,960       12,290,136  

Series A, AMT, 4.15%, 10/01/53

     4,615       3,732,413  

Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43 .

     1,680       1,562,039  
   

 

 

  
          26,774,971  
Minnesota — 2.3%            

Duluth Economic Development Authority, Refunding RB

    

Series A, 4.25%, 02/15/48

     5,685       4,734,592  

Series A, 5.25%, 02/15/53

     615       592,054  

Series A, 5.25%, 02/15/58

     3,050       2,921,625  

Minnesota Higher Education Facilities Authority, RB, Series A, 5.00%, 10/01/47

     1,495       1,473,247  

Minnesota Housing Finance Agency, RB, S/F Housing, Series N, (FHLMC, FNMA, GNMA), 6.00%, 01/01/53

     2,130       2,207,511  
   

 

 

  
      11,929,029  
Mississippi — 0.2%            

Mississippi Development Bank, RB, (AGM), 6.88%, 12/01/40

     1,190       1,192,573  
   

 

 

  
Missouri — 1.6%            

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

    

Series A, 4.00%, 07/01/46

     1,830       1,515,668  

Series C, 4.00%, 11/15/49

     3,455       2,783,197  

Kansas City Industrial Development Authority, ARB, Class B, AMT, 5.00%, 03/01/54

     3,435       3,171,995  

St Louis County Industrial Development Authority, Refunding RB, 5.00%, 09/01/37

     500       440,544  
   

 

 

  
      7,911,404  
New Hampshire(b) — 0.6%            

New Hampshire Business Finance Authority, Refunding RB

    

Series B, 4.63%, 11/01/42

     2,350       1,853,768  

Series B, AMT, 3.75%, 07/01/45(a)

    270       180,234  

Series C, AMT, 4.88%, 11/01/42

     1,260       976,486  
   

 

 

  
      3,010,488  
New Jersey — 11.3%            

Casino Reinvestment Development Authority, Inc., Refunding RB
5.25%, 11/01/39

     2,390       2,310,181  

5.25%, 11/01/44

     2,250       2,094,626  

Middlesex County Improvement Authority, RB, Series B,
6.25%, 01/01/37(f)(g)

    645       7,966  

New Jersey Economic Development Authority, RB
5.00%, 12/15/28(d)

    1,375       1,462,764  

5.00%, 06/15/43

     2,335       2,301,214  

Series EEE, 5.00%, 06/15/48

     6,405       6,261,496  

AMT, (AGM), 5.00%, 01/01/31

     530       524,123  

AMT, 5.38%, 01/01/43

     1,500       1,452,318  

New Jersey Economic Development Authority, Refunding ARB, AMT, 5.00%, 10/01/47

     1,570       1,430,771  
Security   Par
(000)		     Value  
New Jersey (continued)            

New Jersey Economic Development Authority, Refunding RB, Series BBB, 5.50%, 12/15/26(d)

  $ 775     $ 816,383  

New Jersey Economic Development Authority, Refunding SAB
6.50%, 04/01/28

     5,584       5,626,993  

5.75%, 04/01/31

     705       630,619  

New Jersey Health Care Facilities Financing Authority, RB, 4.00%, 07/01/51

     4,980       4,076,038  

New Jersey Higher Education Student Assistance Authority, RB, Series C, AMT, Subordinate, 4.25%, 12/01/50

     1,810       1,415,993  

New Jersey Higher Education Student Assistance Authority, Refunding RB, Sub-Series C, AMT, 3.63%, 12/01/49

     665       461,013  

New Jersey Transportation Trust Fund Authority, RB

    

Series AA, 5.00%, 06/15/45

     415       408,375  

Series AA, 4.00%, 06/15/50

     1,730       1,422,135  

Series S, 5.25%, 06/15/43

     1,145       1,156,349  

Series S, 5.00%, 06/15/46

     4,980       4,837,483  

New Jersey Transportation Trust Fund Authority, Refunding RB, Series A, 4.25%, 06/15/40

     7,330       6,674,568  

New Jersey Turnpike Authority, RB, Series B, 5.00%, 01/01/46

     5,385       5,405,882  

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.00%, 06/01/46

     275       259,200  

Series A, 5.25%, 06/01/46

     4,140       4,069,825  

Sub-Series B, 5.00%, 06/01/46

           2,955       2,744,060  
   

 

 

  
          57,850,375  
New Mexico — 0.0%            

City of Santa Fe New Mexico, RB, Series A, 5.00%, 05/15/44

     100       78,489  
   

 

 

  
New York — 16.3%            

Buffalo & Erie County Industrial Land Development Corp., Refunding RB, Series A, 5.00%, 06/01/35

     500       497,502  

City of New York, GO

    

Series A-1, 4.00%, 09/01/46

     1,550       1,317,200  

Series B, 5.25%, 10/01/39

     1,030       1,079,335  

Series B, 5.25%, 10/01/40

     790       824,679  

Series D-1, 4.00%, 03/01/42

     455       403,652  

Metropolitan Transportation Authority, RB

    

Series B, 5.25%, 11/15/39

     910       910,592  

Series C, 4.00%, 11/15/33

     100       95,309  

Metropolitan Transportation Authority, Refunding RB

    

Series C-1, 5.00%, 11/15/25

     100       101,178  

Series C-1, 5.00%, 11/15/26

     65       66,310  

Series C-1, 4.75%, 11/15/45

     6,795       6,249,501  

Series C-1, 5.00%, 11/15/50

     575       542,445  

Monroe County Industrial Development Corp., Refunding RB, Series A, 4.00%, 07/01/50

     1,760       1,472,282  

New York City Housing Development Corp., RB, M/F Housing, Series H, Sustainability Bonds, 2.55%, 11/01/45

     925       577,184  

New York City Municipal Water Finance Authority, RB, Series AA-1, 5.25%, 06/15/52

     1,080       1,108,290  

New York City Municipal Water Finance Authority, Refunding RB

    

Series BB-1, 4.00%, 06/15/45

     810       709,251  
 

 

 

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 Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
New York (continued)            

New York City Municipal Water Finance Authority, Refunding RB (continued)

    

Series DD, 4.13%, 06/15/46

   $ 7,250     $ 6,356,776  

Series DD, 4.13%, 06/15/47

     3,430       2,988,926  

New York City Transitional Finance Authority Future Tax Secured Revenue, RB

    

Series A-1, Subordinate, 4.00%, 08/01/48

     2,240       1,894,419  

Series B-1, Subordinate, 4.00%, 08/01/48

     2,500       2,119,031  

Series F-1, Subordinate, 5.00%, 02/01/47

     3,260       3,271,754  

New York Counties Tobacco Trust IV, Refunding RB, Series A, 6.25%, 06/01/41(b)

    3,200       3,199,901  

New York Liberty Development Corp., Refunding RB

    

Class 1, 5.00%, 11/15/44(b)

    4,910       4,381,484  

Class 2, 5.38%, 11/15/40(b)

    1,175       1,086,036  

Series A, 3.00%, 11/15/51

     2,040       1,322,465  

Series A, (BAM-TCRS), 3.00%, 11/15/51

     1,270       817,470  

New York State Dormitory Authority, Refunding RB

    

Series A, 4.00%, 03/15/44

     1,200       1,037,083  

Series A, 4.00%, 03/15/47

     3,830       3,275,180  

Series A, 4.00%, 03/15/48

     1,420       1,205,986  

New York State Thruway Authority, Refunding RB, Series A, 4.00%, 03/15/42

     750       672,118  

New York State Urban Development Corp., RB, Series A, 4.00%, 03/15/49

     4,625       3,875,784  

New York State Urban Development Corp., Refunding RB
4.00%, 03/15/45

     6,575       5,730,341  

4.00%, 03/15/49

     2,205       1,847,416  

New York Transportation Development Corp., ARB AMT,
5.00%, 12/01/40

     2,250       2,163,911  

Series A, AMT, 5.00%, 07/01/46

     1,600       1,474,809  

New York Transportation Development Corp., RB
5.63%, 04/01/40(c)

    1,050       1,038,998  

AMT, 5.00%, 10/01/35

     1,910       1,822,719  

AMT, 4.00%, 10/31/46

     425       333,857  

Port Authority of New York & New Jersey, ARB, 218th Series, AMT, 4.00%, 11/01/47

     380       304,385  

Port Authority of New York & New Jersey, Refunding ARB, 223rd Series, AMT, 4.00%, 07/15/41

     1,150       978,020  

Triborough Bridge & Tunnel Authority Sales Tax Revenue, RB

    

Series A, 4.00%, 05/15/48

     6,855       5,782,743  

Series A, 5.25%, 05/15/52

     900       918,311  

Triborough Bridge & Tunnel Authority, Refunding RB,

    

Series C, 5.00%, 05/15/47

     6,930       6,931,153  

Westchester Tobacco Asset Securitization Corp., Refunding RB, Sub-Series C, 4.00%, 06/01/42

     195       172,991  
   

 

 

  
          82,958,777  
North Carolina — 0.5%            

North Carolina Housing Finance Agency, RB, S/F Housing, (FHLMC, FNMA, GNMA), 6.00%, 07/01/53

           2,325       2,402,775  
   

 

 

  
North Dakota — 0.2%            

County of Cass North Dakota, Refunding RB, Series B, 5.25%, 02/15/58

     1,035       987,075  
   

 

 

  
Security   Par
(000)		     Value  
Ohio — 2.1%            

Buckeye Tobacco Settlement Financing Authority, Refunding RB

    

Series A-2, 4.00%, 06/01/48

   $ 915     $ 731,292  

Series B-2, 5.00%, 06/01/55

     6,585       5,384,565  

County of Franklin Ohio, RB, Series A, 5.00%, 12/01/47

     435       422,509  

County of Hamilton Ohio, RB, Series CC, 5.00%, 11/15/49

     590       569,446  

County of Hamilton Ohio, Refunding RB, 4.00%, 08/15/50

     2,415       1,949,392  

Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(b)

    860       685,511  

State of Ohio, RB, AMT, 5.00%, 06/30/53

     870       782,548  
   

 

 

  
      10,525,263  
Oklahoma — 0.6%            

Oklahoma Development Finance Authority, RB, Series B, 5.50%, 08/15/52

     1,640       1,412,583  

Oklahoma Water Resources Board, RB, 4.00%, 04/01/48

     240       207,044  

Tulsa County Industrial Authority, Refunding RB, 5.25%, 11/15/45

     1,435       1,284,493  
   

 

 

  
      2,904,120  
Oregon — 2.4%            

Clackamas County School District No. 12 North Clackamas, GO, CAB, Series A, (GTD), 0.00%, 06/15/38(e)

    1,445       641,976  

Port of Portland Oregon Airport Revenue, Refunding ARB, 29th Series, AMT, 5.50%, 07/01/48

           11,630       11,815,628  
   

 

 

  
          12,457,604  
Pennsylvania — 6.0%            

Allegheny County Airport Authority, ARB, (AGM), 5.50%, 01/01/48

     535       540,203  

Montgomery County Higher Education and Health Authority, Refunding RB
4.00%, 09/01/51

     2,260       1,766,285  

5.00%, 09/01/48

     385       360,184  

Montgomery County Industrial Development Authority, RB, Series C, 5.00%, 11/15/45

     205       183,455  

Pennsylvania Economic Development Financing Authority, RB

    

AMT, 5.00%, 06/30/42

     3,680       3,381,883  

AMT, 5.75%, 06/30/48

     1,405       1,437,029  

AMT, 5.25%, 06/30/53

     2,330       2,256,232  

Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, 5.50%, 11/01/44

     480       430,159  

Pennsylvania Higher Educational Facilities Authority, RB, 4.00%, 08/15/44

     3,695       3,117,339  

Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, Refunding RB, Series B, 4.00%, 12/01/53

     2,990       2,382,298  

Pennsylvania Turnpike Commission, RB
Series B, 5.25%, 12/01/47

     7,110       7,255,859  

Sub-Series B-1, 5.25%, 06/01/47

     2,500       2,509,553  

Series A, Subordinate, 4.00%, 12/01/46

     2,065       1,707,913  

Series A, Subordinate, (BAM-TCRS), 4.00%, 12/01/50

     810       669,443  
 

 

 

5  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Pennsylvania (continued)            

Pennsylvania Turnpike Commission, Refunding RB, Series C, 4.00%, 12/01/51

   $ 2,355     $ 1,913,040  

Philadelphia Authority for Industrial Development, RB, 5.25%, 11/01/52

     440       428,017  
   

 

 

  
      30,338,892  
Puerto Rico — 4.5%            

Commonwealth of Puerto Rico, GO, Series A-1, Restructured, 5.75%, 07/01/31

     1,596       1,641,077  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB

    

Series A-1, Restructured, 4.75%, 07/01/53

     5,908       4,983,737  

Series A-1, Restructured, 5.00%, 07/01/58

     11,913       10,324,204  

Series A-2, Restructured, 4.78%, 07/01/58

     3,256       2,726,117  

Series B-2, Restructured, 4.78%, 07/01/58

     159       132,944  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(e)

    12,023       2,971,947  
   

 

 

  
      22,780,026  
Rhode Island — 0.9%            

Rhode Island Health and Educational Building Corp., RB, Series A, 4.00%, 09/15/47

     5,575       4,491,758  

Rhode Island Student Loan Authority, RB, Series A, AMT, 3.63%, 12/01/37

     250       212,115  
   

 

 

  
      4,703,873  
South Carolina — 2.0%            

South Carolina Jobs-Economic Development Authority, RB, 5.00%, 01/01/55(b)

    335       252,129  

South Carolina Jobs-Economic Development Authority, Refunding RB
5.00%, 02/01/38

     2,710       2,717,814  

Series A, 5.00%, 05/01/43

     2,430       2,347,771  

Series A, 5.00%, 05/01/48

     3,395       3,219,719  

South Carolina Public Service Authority, Refunding RB, Series B, 5.00%, 12/01/51

     1,785       1,692,769  
   

 

 

  
      10,230,202  
Tennessee — 1.4%            

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Refunding RB
5.25%, 10/01/58

     1,820       1,645,089  

Series A, 4.00%, 10/01/49

     445       329,877  

Metropolitan Nashville Airport Authority, ARB

    

Series B, AMT, 5.25%, 07/01/35

     950       977,395  

Series B, AMT, 5.50%, 07/01/36

     795       828,397  

Tennergy Corp., RB, Series A, 5.50%, 10/01/53(a)

    3,130       3,140,119  
   

 

 

  
      6,920,877  
Texas — 15.2%            

Arlington Higher Education Finance Corp., RB(b)
7.50%, 04/01/62

     965       844,295  

7.88%, 11/01/62

     815       767,304  

City of Austin Texas Airport System Revenue, ARB, Series B, AMT, 5.00%, 11/15/44

     1,980       1,888,680  

City of Garland Texas Electric Utility System Revenue, Refunding RB, (AGM), 4.25%, 03/01/48

     425       362,919  

City of Houston Texas Airport System Revenue, Refunding ARB, Series A, AMT, 1st Lien, Subordinate, (AGM), 5.25%, 07/01/48

     5,180       5,066,874  
Security   Par
(000)		     Value  
Texas (continued)            

City of Houston Texas Airport System Revenue, Refunding RB, AMT, 5.00%, 07/01/29

   $ 595     $ 578,858  

City of Houston Texas, GO, 5.25%, 03/01/42

     470       490,231  

Clifton Higher Education Finance Corp., RB, 6.00%, 08/15/43

     230       230,031  

County of Harris Texas, Refunding GO, Series A, 4.25%, 09/15/48

     890       769,267  

Crowley Independent School District, GO, (PSF), 5.00%, 02/01/48

     3,455       3,509,186  

Cypress-Fairbanks Independent School District, GO, (PSF), 4.00%, 02/15/48

     1,415       1,212,030  

Dallas Fort Worth International Airport, Refunding RB, Series E, AMT, 5.50%, 11/01/27

     2,500       2,500,000  

Denton Independent School District, GO, (PSF), 5.00%, 08/15/48

     2,975       3,023,936  

Fort Worth Independent School District, GO, (PSF), 4.00%, 02/15/48

     670       575,784  

Harris County-Houston Sports Authority, Refunding RB(e)

   

Series A, 3rd Lien, (NPFGC), 0.00%, 11/15/24(d)

    2,300       1,090,730  

Series A, 3rd Lien, (NPFGC), 0.00%, 11/15/36

     13,075       5,784,721  

Series A, Senior Lien, (AGM NPFGC), 0.00%, 11/15/38

     4,750       1,945,708  

Hutto Independent School District, GO, (PSF), 5.00%, 08/01/48

     200       203,423  

Klein Independent School District, GO, (PSF), 4.00%, 08/01/47

     5,185       4,575,090  

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

    10,540       5,517,385  

New Caney Independent School District, Refunding GO, (PSF), 5.00%, 02/15/48

     11,750       11,933,071  

New Hope Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 08/15/50(b)

    180       141,048  

North Texas Tollway Authority, RB, Series B, 0.00%, 09/01/31(d)(e)

    640       296,911  

North Texas Tollway Authority, Refunding RB, 4.25%, 01/01/49

     3,185       2,681,728  

Port Authority of Houston of Harris County Texas, ARB
4.00%, 10/01/46

     2,110       1,742,081  

1st Lien, 5.00%, 10/01/48

     1,470       1,469,524  

Tarrant County Cultural Education Facilities Finance Corp., RB
5.00%, 11/15/51

     1,280       1,220,740  

Series A, 4.00%, 07/01/53

     1,435       1,113,358  

Series A, 5.00%, 07/01/53

     880       834,751  

Series B, 5.00%, 07/01/48

     4,955       4,763,227  

Texas City Industrial Development Corp., RB, Series 2012, 4.13%, 12/01/45

     95       73,755  

Texas Department of Housing & Community Affairs, RB, S/F Housing, Series A, (GNMA), 3.75%, 09/01/49

     1,240       996,849  

Texas Private Activity Bond Surface Transportation Corp., RB

    

AMT, 5.00%, 06/30/58

     3,110       2,834,163  

AMT, Senior Lien, 5.00%, 12/31/55

     975       899,370  

Texas Transportation Commission State Highway 249 System, RB, CAB(e)
0.00%, 08/01/40

     500       183,351  

0.00%, 08/01/41

     2,000       686,240  

0.00%, 08/01/42

     2,345       751,718  
 

 

 

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 Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Texas (continued)

 

Texas Water Development Board, RB
4.45%, 10/15/36

   $ 675     $ 673,741  

4.00%, 10/15/45

           1,810       1,579,250  

Waller Consolidated Independent School District, GO, Series A, (PSF), 4.00%, 02/15/48

     1,710       1,461,586  
   

 

 

  
      77,272,914  

Utah — 1.2%

 

City of Salt Lake City Utah Airport Revenue, ARB

    

Series A, AMT, 5.00%, 07/01/48

     955       903,314  

Series A, AMT, 5.25%, 07/01/48

     5,235           5,151,054  

Utah Charter School Finance Authority, RB, Series A, 5.00%, 06/15/39(b)

    100       84,942  

Utah Charter School Finance Authority, Refunding RB, 5.00%, 06/15/40(b)

    135       116,157  
   

 

 

  
      6,255,467  

Vermont — 0.0%

 

Vermont Student Assistance Corp., RB,
Series A, AMT, 3.38%, 06/15/36

     220       189,095  
   

 

 

  

Virginia — 1.5%

 

Ballston Quarter Community Development Authority, TA(f)(g)

   

Series A, 5.00%, 03/01/26

     290       277,557  

Series A, 5.13%, 03/01/31

     755       611,089  

Tobacco Settlement Financing Corp., Refunding RB, Series B-1, 5.00%, 06/01/47

     1,010       869,963  

Virginia Housing Development Authority, RB, M/F Housing, Series G, 5.05%, 11/01/47

     1,825       1,735,625  

Virginia Small Business Financing Authority, Refunding RB, 4.00%, 12/01/49

     5,310       4,267,415  
   

 

 

  
      7,761,649  

Washington — 0.6%

 

Port of Seattle Washington, ARB, Series A, AMT, 5.00%, 05/01/43

     1,615       1,551,018  

Washington State Housing Finance Commission, Refunding RB, 5.00%, 01/01/43(b)

    2,165       1,667,324  
   

 

 

  
      3,218,342  

West Virginia — 0.8%

 

City of Martinsburg West Verginia, RB, M/F Housing, Series A-1, 4.63%, 12/01/43

     570       477,667  

Morgantown Utility Board, Inc. RB, 4.00%, 12/01/48

     4,225       3,396,484  
   

 

 

  
      3,874,151  

Wisconsin — 1.9%

 

Public Finance Authority, RB

    

Series A, 5.00%, 07/01/55(b)

    120       87,513  

Series A-1, 4.50%, 01/01/35(b)

    205       171,914  

AMT, 4.00%, 09/30/51

     5,615       4,071,622  
Security   Par
(000)		     Value  

Wisconsin (continued)

 

Public Finance Authority, RB (continued)
AMT, 4.00%, 03/31/56

   $ 1,835     $ 1,288,070  

Public Finance Authority, Refunding RB, 5.00%, 09/01/49(b)

    120       85,699  

Wisconsin Health & Educational Facilities Authority, Refunding RB, 4.00%, 12/01/51

     3,280       2,588,445  

Wisconsin Housing & Economic Development Authority Home Ownership Revenue, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.85%, 09/01/43

     720       690,325  

Wisconsin Housing & Economic Development Authority, RB, M/F Housing, Series A, 4.70%, 07/01/47

     660       580,130  
   

 

 

  
      9,563,718  
   

 

 

  

Total Municipal Bonds — 127.0%
(Cost: $703,958,391)

 

     647,393,893  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(i)

 

Alabama(a) — 3.8%

 

Black Belt Energy Gas District RB, Series B, 5.25%, 12/01/53

           12,500       12,581,236  

Black Belt Energy Gas District, RB, Series C-1, 5.25%, 02/01/53

     6,702       6,709,779  
   

 

 

  
      19,291,015  

Colorado — 1.5%

 

City & County of Denver Colorado Airport System Revenue, Refunding RB, Series A, AMT, 5.50%, 11/15/53

     7,685       7,771,687  
   

 

 

  

District of Columbia — 0.4%

 

District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2, 4.10%, 09/01/39

     2,361       2,027,940  
   

 

 

  

Iowa — 0.4%

 

Iowa Finance Authority, Refunding RB,
Series E, 4.00%, 08/15/46

     2,740       2,212,469  
   

 

 

  

Nebraska — 1.0%

 

Central Plains Energy Project, RB, Series 1, 5.00%, 05/01/53(a)

    5,241       5,167,549  
   

 

 

  

New York — 4.9%

 

New York City Housing Development Corp., Refunding RB, Series A, 4.15%, 11/01/38

     4,810       4,256,847  

New York City Transitional Finance Authority Building Aid Revenue, RB, 5.25%, 05/01/48

     9,510           9,790,318  
 

 

 

7  

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

New York (continued)

 

New York Power Authority, Refunding RB, Series E, 5.00%, 03/15/46

   $ 8,820     $ 8,824,204  

Port Authority of New York & New Jersey, RB, Series 221, AMT, 4.00%, 07/15/55

     2,820       2,169,466  
   

 

 

  
      25,040,835  

Wisconsin — 1.0%

 

Wisconsin Housing & Economic Development Authority Housing Revenue, RB, M/F Housing

    

Series A, 4.10%, 11/01/43

     2,658       2,200,736  

Series A, 4.45%, 05/01/57

     3,322       2,750,920  
   

 

 

  
      4,951,656  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 13.0%

 

  

(Cost: $70,447,370)

       66,463,151  
   

 

 

  

Total Long-Term Investments — 140.0%

    

(Cost: $774,405,761)

       713,857,044  
   

 

 

  
         
Shares		         

Short-Term Securities

    

Money Market Funds — 24.8%

 

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

    126,225,454       126,225,454  
   

 

 

  

Total Short-Term Securities — 24.8%

    

(Cost: $126,222,065)

       126,225,454  
   

 

 

  

Total Investments — 164.8%

 

  

(Cost: $900,627,826)

       840,082,498  

Other Assets Less Liabilities — 1.9%

 

     9,544,615  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (7.3)%

 

     (37,178,351 ) 

VMTP Shares at Liquidation Value, Net of Deferred Offering Costs — (59.4)%

 

     (302,700,000 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 509,748,762  
   

 

 

  

 

 

(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) 

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.

(c) 

When-issued security.

(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) 

Zero-coupon bond.

(f) 

Issuer filed for bankruptcy and/or is in default.

(g) 

Non-income producing security.

(h) 

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.

(i) 

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.

(j) 

Affiliate of the Trust.

(k) 

Annualized 7-day yield as of period end.

 

 

For Trust compliance purposes, the Trust’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

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

   $   37,886,667     $   88,339,464 (a)    $ —     $ (677 )    $ —     $   126,225,454       126,225,454     $   368,542     $ —  
     

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 

 

 

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 Income Trust II (BLE)

 

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

 

  •  

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

    $ —        $ 647,393,893        $ —        $ 647,393,893  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —          66,463,151          —          66,463,151  

Short-Term Securities

                  

Money Market Funds

      126,225,454          —          —          126,225,454  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $   126,225,454        $   713,857,044        $             —        $   840,082,498  
  

 

 

       

 

 

       

 

 

       

 

 

  

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

    $ —        $ (36,982,300 )       $ —        $ (36,982,300 ) 

VMTP Shares at Liquidation Value

      —          (302,700,000 )         —          (302,700,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $         —        $ (339,682,300 )       $         —        $ (339,682,300 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviation
AGM    Assured Guaranty Municipal Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAM    Build America Mutual Assurance Co.
BAM-TCRS    Build America Mutual Assurance Co.-
    Transferable Custodial Receipts
CAB    Capital Appreciation Bonds
COP    Certificates of Participation
FHLMC    Federal Home Loan Mortgage Corp.
FNMA    Federal National Mortgage Association
GNMA    Government National Mortgage Association
Portfolio Abbreviation (continued)
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
SAB    Special Assessment Bonds
ST    Special Tax
TA    Tax Allocation
 

 

 

9  
BlackRock Municipal Inco... (NYSE:BLE)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024 Plus de graphiques de la Bourse BlackRock Municipal Inco...
BlackRock Municipal Inco... (NYSE:BLE)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024 Plus de graphiques de la Bourse BlackRock Municipal Inco...