NPORT-EX 2 NPORT_89J1_43592414_1021.htm

BlackRock Taxable Municipal Bond Trust

Schedule of Investments  (unaudited) October 31, 2021 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Corporate Bonds
Diversified Financial Services — 0.2%
Western Group Housing LP, 6.75%, 03/15/57(a)		$	2,434			$	3,566,826
Education — 3.8%
George Washington University, Series 2018, 4.13%, 09/15/48(b)			7,191				8,929,205
Massachusetts Higher Education Assistance Corp., Series 2021, 2.67%, 07/01/31			10,000				10,175,760
Rensselaer Polytechnic Institute, 5.25%, 09/01/48			18,190				23,145,680
Wesleyan University, 4.78%, 07/01/2116(b)			11,000				15,830,010
							58,080,655
Health Care Providers & Services — 5.4%
Baptist Health Obligated Group, Series 2019, 4.10%, 12/01/49			11,300				11,957,542
CommonSpirit Health, 3.82%, 10/01/49(b)			7,750				8,944,952
Kaiser Foundation Hospitals, 2.81%, 06/01/41(b)			11,876				12,037,003
Ochsner Clinic Foundation, 5.90%, 05/15/45(b)			5,000				7,079,553
PeaceHealth Obligated Group, Series 2018, 4.79%, 11/15/48(b)			5,065				6,924,388
Piedmont Healthcare, Inc., 2.72%, 01/01/42			8,207				8,051,212
West Virginia United Health System Obligated Group, Series 2018, 4.92%, 06/01/48			20,000				26,484,544
							81,479,194
Real Estate Management & Development — 0.7%
Bridge Housing Corp., 3.25%, 07/15/30			10,020				10,428,331
Total Corporate Bonds — 10.1% (Cost: $128,825,087)							153,555,006
Municipal Bonds
Arizona — 2.2%
Salt River Project Agricultural Improvement & Power District, RB, BAB, 4.84%, 01/01/41(b)			24,545				32,480,595
California — 27.3%
Alameda County Joint Powers Authority, RB, BAB, Series A, 7.05%, 12/01/44(b)			11,000				17,895,416
Bay Area Toll Authority, RB, BAB
Series S-1, 6.92%, 04/01/40(b)			13,700				21,043,816
Series S-1, 7.04%, 04/01/50			1,015				1,802,229
Series S-3, 6.91%, 10/01/50(b)			14,000				25,241,398
California Infrastructure & Economic Development Bank, RB, 5.50%, 01/01/38(a)			5,000				5,128,575
California State Public Works Board, RB, BAB, Series G-2, 8.36%, 10/01/34(b)			18,145				28,389,613
City of Chula Vista California, RB, 2.91%, 06/01/45			9,185				9,110,133
City of El Cajon, RB, Series A, 3.28%, 04/01/43			2,605				2,657,803
City of Huntington Beach California, Refunding RB, 3.38%, 06/15/44			5,000				5,088,220
City of Riverside California, RB, Series A, 3.86%, 06/01/45			8,265				8,901,488
City of San Francisco California Public Utilities Commission Water Revenue, RB, BAB, Series DE, 6.00%, 11/01/40(b)			21,255				29,178,588
County of Riverside California, RB, 3.82%, 02/15/38			11,450				12,626,327
County of Sonoma California, Refunding RB, Series A, 6.00%, 12/01/29(b)			13,145				15,646,020
Foothill-Eastern Transportation Corridor Agency, Refunding RB
Series A, 4.09%, 01/15/49			24,340				25,944,103

Security		Par (000)				Value
California (continued)
Foothill-Eastern Transportation Corridor Agency, Refunding RB (continued)
Series A, (AGM), 3.92%, 01/15/53		$	7,202			$	7,659,795
Golden State Tobacco Securitization Corp., Refunding RB, (SAP), 3.29%, 06/01/42			11,170				11,325,062
Inland Empire Tobacco Securitization Corp., Refunding RB, 3.68%, 06/01/38			8,455				8,703,822
Los Angeles Community College District, GO, BAB, 6.60%, 08/01/42(b)			10,000				15,952,750
Los Angeles Unified School District, GO, BAB, Series RY, 6.76%, 07/01/34			10,000				14,050,090
Orange County Local Transportation Authority, Refunding RB, BAB, Series A, 6.91%, 02/15/41(b)			5,000				7,378,435
San Diego County Regional Airport Authority, Refunding ARB, Series B, 5.59%, 07/01/43			4,000				4,414,936
State of California, GO, BAB
7.55%, 04/01/39(b)			9,035				15,213,811
7.63%, 03/01/40			8,950				14,960,892
7.60%, 11/01/40			15,000				26,126,400
University of California, RB, BAB
5.95%, 05/15/45(b)			24,000				34,204,440
6.30%, 05/15/50			27,010				35,281,326
University of California, Refunding RB, Series J, 4.13%, 05/15/45			8,185				9,795,669
							413,721,157
Colorado — 3.6%
Colorado Health Facilities Authority, Refunding RB, Series B, 4.48%, 12/01/40			9,485				10,175,792
Denver City & County School District No.1, Refunding COP, Series B, 7.02%, 12/15/37			6,000				8,677,470
Regional Transportation District, COP, BAB, Series B, 7.67%, 06/01/40(b)			23,000				36,047,532
							54,900,794
Connecticut — 0.3%
Connecticut State Health & Educational Facilities Authority, Refunding RB, Series G-2, 4.25%, 07/01/27(a)			5,055				5,170,315
District of Columbia — 2.3%
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, ARB, BAB, Series D, 8.00%, 10/01/47			10,750				18,854,167
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, RB, BAB, 7.46%, 10/01/46			9,235				16,293,403
							35,147,570
Florida — 4.3%
Capital Trust Agency Inc RB, 5.50%, 06/15/26(a)			445				443,585
Excelsior Academies, Inc., RB, Series C, 5.25%, 11/01/25			490				496,587
Florida Development Finance Corp. RB, 5.00%, 06/15/25(a)			285				284,506
Florida Development Finance Corp., RB(a)
7.00%, 12/01/48(c)(d)			4,500				4,344,070
Series B, 5.75%, 06/15/25			735				742,238
Florida Development Finance Corp., Refunding RB, Series B, 4.11%, 04/01/50			15,000				15,680,475
Miami-Dade County Educational Facilities Authority, Refunding RB, Series B, 5.07%, 04/01/50			12,250				16,288,225
Miami-Dade County Industrial Development Authority, RB, 5.25%, 11/01/25			180				182,411

1

Schedule of Investments  (unaudited) (continued) October 31, 2021 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Florida (continued)
Miami-Dade County, Refunding RB, Series 2, Subordinate, 2.54%, 10/01/33		$	7,500			$	7,424,377
Sumter Landing Community Development District, RB, 4.17%, 10/01/47			2,575				3,057,933
Village Center Community Development District, Refunding RB, 5.02%, 11/01/36			13,500				16,440,340
							65,384,747
Georgia — 6.1%
Municipal Electric Authority of Georgia, Refunding RB, BAB
6.64%, 04/01/57			26,367				40,283,344
6.66%, 04/01/57			24,368				38,238,095
7.06%, 04/01/57			9,750				14,516,639
							93,038,078
Idaho — 0.0%
Idaho Housing & Finance Association, RB, Series B, 7.15%, 06/15/31			625				621,461
Illinois — 15.5%
Chicago Board of Education, GO, 6.32%, 11/01/29			9,465				11,111,503
Chicago Board of Education, GO, BAB
6.04%, 12/01/29			12,935				14,661,344
6.14%, 12/01/39			2,085				2,508,315
6.52%, 12/01/40			9,745				12,377,466
Chicago O’Hare International Airport, Refunding ARB, BAB, Series B, 6.40%, 01/01/40			1,500				2,268,491
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue, RB, Series A, 6.90%, 12/01/40(b)			4,075				5,770,387
Chicago Transit Authority Sales Tax Receipts Fund, RB, Series B, 6.90%, 12/01/40			4,900				6,938,915
Chicago Transit Authority Sales Tax Receipts Fund, RB, BAB, Series B, 6.20%, 12/01/40(b)			16,015				22,122,977
Chicago Transit Authority Sales Tax Receipts Fund, Refunding RB, Series B, 3.91%, 12/01/40			3,960				4,538,746
City of Chicago Illinois Wastewater Transmission Revenue, RB, BAB, Series B, 6.90%, 01/01/40			36,000				49,331,628
City of Chicago Illinois Waterworks Revenue, RB, BAB, Series B, 6.74%, 11/01/40			15,250				21,331,044
Illinois Municipal Electric Agency, RB, BAB, 7.29%, 02/01/35(b)			15,000				20,082,885
Northern Illinois Municipal Power Agency, RB, BAB, 7.82%, 01/01/40			5,000				7,739,475
State of Illinois, GO, BAB
6.73%, 04/01/35			6,320				7,843,954
7.35%, 07/01/35(b)			35,855				45,413,369
							234,040,499
Indiana — 2.0%
Indiana Finance Authority Refunding RB, 3.31%, 03/01/51			4,180				4,249,024
Indiana Finance Authority, RB, BAB, Series B, 6.60%, 02/01/39(b)			7,900				11,589,695
Indiana Municipal Power Agency, RB, BAB, Series A, 5.59%, 01/01/42			10,000				13,619,910
							29,458,629

Security		Par (000)				Value
Iowa — 0.1%
Capital Trust Agency, Inc., RB, 5.00%, 01/01/25(a)		$	690			$	689,229
Kentucky — 1.6%
Kentucky Public Transportation Infrastructure Authority Refunding RB, (AGM), 3.22%, 07/01/53			7,245				7,356,319
Westvaco Corp., RB, 7.67%, 01/15/27(a)			13,800				16,687,333
							24,043,652
Louisiana — 1.0%
City of New Orleans LA Sewerage Service Revenue, Refunding RB
(AGM), 2.84%, 06/01/41			3,840				3,866,146
(AGM), 2.94%, 06/01/45			4,000				4,035,000
City of New Orleans LA Water System Revenue, Refunding RB, (AGM), 2.89%, 12/01/41			3,180				3,235,396
Louisiana Local Government Environmental Facilities & Community Development Auth, Refunding RB, (AGM), 2.59%, 02/01/43(b)			4,800				4,607,338
							15,743,880
Maine — 0.2%
Maine Health & Higher Educational Facilities Authority, Refunding RB, Series B, (AGM NPFGC), 3.12%, 07/01/43			2,590				2,762,761
Maryland — 0.8%
Maryland Economic Development Corp., RB, 4.00%, 04/01/34			10,570				11,249,651
Maryland Health & Higher Educational Facilities Authority, RB, Series B, 6.25%, 03/01/27(a)			1,000				964,383
							12,214,034
Massachusetts — 2.7%
Commonwealth of Massachusetts Transportation Fund Revenue, RB, BAB, 5.73%, 06/01/40(b)			5,000				6,839,135
Massachusetts Educational Financing Authority, RB
Series A, 3.61%, 07/01/36			20,175				21,335,284
Series A, 2.64%, 07/01/37			11,925				12,031,359
							40,205,778
Michigan — 4.5%
Michigan Finance Authority, RB, Series D, 5.02%, 11/01/43			7,500				9,834,277
Michigan Finance Authority, Refunding RB, Series A, 3.27%, 06/01/39			10,000				10,507,170
Michigan Finance Authority, Refunding RB, CAB, Series B, 0.00%, 06/01/45(e)			50,000				15,487,600
Michigan State University, RB, BAB, Series A, 6.17%, 02/15/50			5,500				7,086,343
Michigan State University, Refunding RB, Series A, 4.50%, 08/15/48			14,575				16,789,176
Michigan Strategic Fund, RB, 3.23%, 09/01/47			8,340				8,553,354
							68,257,920
Minnesota — 1.3%
Southern Minnesota Municipal Power Agency, Refunding RB, BAB, Series A, 5.93%, 01/01/43			8,000				11,760,016
Western Minnesota Municipal Power Agency, RB, BAB, 6.77%, 01/01/46			5,000				8,080,270
							19,840,286

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, 2021 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Mississippi — 0.5%
Mississippi Development Bank, RB, BAB, 6.41%, 01/01/40		$	5,000			$	7,397,385
Missouri — 1.8%
Curators of the University of Missouri, RB, BAB, 5.79%, 11/01/41(b)			7,000				10,480,498
Missouri Joint Municipal Electric Utility Commission, RB, BAB, 7.73%, 01/01/39			11,000				17,321,359
							27,801,857
Nevada — 0.3%
City of North Las Vegas Nevada, GO, BAB, 6.57%, 06/01/40			1,420				1,921,073
County of Clark Department of Aviation, ARB, BAB, Series C, 6.82%, 07/01/45			2,000				3,154,628
							5,075,701
New Hampshire — 1.8%
New Hampshire Business Finance Authority Refunding RB, 3.30%, 04/01/32			11,895				11,920,098
New Hampshire Business Finance Authority, RB, 3.78%, 01/01/36			10,000				10,629,240
New Hampshire Business Finance Authority, Refunding RB, 2.87%, 07/01/35			5,015				4,812,214
							27,361,552
New Jersey — 10.6%
New Jersey Economic Development Authority, RB, Series A, (NPFGC), 7.43%, 02/15/29(b)			20,974				26,539,619
New Jersey Educational Facilities Authority, Refunding RB, (AGM), 3.51%, 07/01/42			20,000				21,108,480
New Jersey Transportation Trust Fund Authority, RB, BAB, Series C, 5.75%, 12/15/28			4,500				5,254,542
New Jersey Transportation Trust Fund Authority, Refunding RB, Series B, 4.13%, 06/15/42			29,355				33,290,038
New Jersey Turnpike Authority, RB, BAB
Series A, 7.10%, 01/01/41(b)			34,000				54,409,792
Series F, 7.41%, 01/01/40			6,790				11,161,354
Rutgers The State University of New Jersey, RB, Series P, 3.92%, 05/01/2119			7,275				8,535,794
							160,299,619
New York — 8.7%
Metropolitan Transportation Authority, RB, BAB
6.67%, 11/15/39			2,220				3,187,902
7.34%, 11/15/39(b)			13,245				21,389,443
Series TR, 6.69%, 11/15/40(b)			13,000				18,616,676
Metropolitan Transportation Authority, Refunding RB, Series C-2, 5.18%, 11/15/49			4,370				6,005,949
New York City Transitional Finance Authority Future Tax Secured Revenue, RB, BAB, 5.57%, 11/01/38(b)			19,000				25,242,203
New York State Dormitory Authority, RB, BAB, Series H, 5.39%, 03/15/40(b)			15,000				19,983,390
New York State Dormitory Authority, Refunding RB, Series B, 5.75%, 01/01/29.			6,010				6,515,321
Port Authority of New York & New Jersey, ARB, Consolidated, 192nd Series, 4.81%, 10/15/65			14,825				20,832,861
Port Authority of New York & New Jersey, RB
Consolidated, 165th Series, 5.65%, 11/01/40			2,750				3,852,560
Consolidated, 168th Series, 4.93%, 10/01/51			3,860				5,443,901
							131,070,206
Ohio — 6.2%
American Municipal Power, Inc., RB, Series B, 7.83%, 02/15/41			10,000				16,621,860

Security		Par (000)				Value
Ohio (continued)
American Municipal Power, Inc., Refunding RB, BAB, Series B, 6.45%, 02/15/44		$	10,000			$	15,045,210
Franklin County Convention Facilities Authority, RB, BAB, 6.64%, 12/01/42(b)			30,575				45,943,952
Ohio University, RB, 5.59%, 12/01/2114			10,100				16,075,352
							93,686,374
Oklahoma — 0.6%
Oklahoma Development Finance Authority, RB, Series B, 11.00%, 09/01/41(a)			3,000				3,533,631
Oklahoma Municipal Power Authority, RB, BAB, 6.44%, 01/01/45(b)			3,500				5,290,057
							8,823,688
Pennsylvania — 4.0%
Commonwealth Financing Authority, RB
Series A, 3.86%, 06/01/38			2,210				2,558,680
Series A, 4.14%, 06/01/38			6,200				7,425,188
Series A, 3.81%, 06/01/41			4,920				5,735,579
Series A, 2.99%, 06/01/42			11,285				11,685,742
Pennsylvania Economic Development Financing Authority, RB, BAB, Series B, 6.53%, 06/15/39			23,050				32,857,982
							60,263,171
Puerto Rico — 2.5%
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53			3,465				3,854,106
Series A-2, Restructured, 4.33%, 07/01/40			5,000				5,483,000
Series A-2, Restructured, 4.55%, 07/01/40			14,899				15,201,062
Series A-2, Restructured, 4.78%, 07/01/58			12,447				13,868,572
							38,406,740
South Carolina — 2.9%
South Carolina Public Service Authority, RB, Series F, (AGM-CR), 5.74%, 01/01/30			5,000				5,973,895
South Carolina Public Service Authority, RB, BAB, Series C, (AGM-CR), 6.45%, 01/01/50			11,290				18,846,374
South Carolina Public Service Authority, Refunding RB, Series D, 4.77%, 12/01/45			10,085				13,320,813
South Carolina Student Loan Corp., RB, Series A, 3.59%, 12/01/39			6,285				6,283,492
							44,424,574
Tennessee — 3.8%
Memphis-Shelby County Industrial Development Board, Refunding TA, Series B, 5.45%, 07/01/45			5,875				5,452,382
Metropolitan Government of Nashville & Davidson County Convention Center Authority, RB, BAB, Series A2, 7.43%, 07/01/43(b)			35,105				52,084,165
							57,536,547
Texas — 4.6%
Arlington Higher Education Finance Corp., Refunding RB, Series B, 4.00%, 08/15/28			1,355				1,363,852
City of Austin TX Rental Car Special Facility, RB, ARB, 5.75%, 11/15/22(f)			5,000				5,283,705
City of San Antonio Texas Customer Facility Charge Revenue, ARB, 5.87%, 07/01/45(b)			7,500				8,190,960
Dallas Area Rapid Transit, RB, BAB, 5.02%, 12/01/48(b)			2,500				3,475,980
Dallas Fort Worth International Airport, Refunding RB, Series C, 3.09%, 11/01/40			10,155				10,615,316
New Hope Higher Education Finance Corp., RB, 5.00%, 06/15/27(a)			390				389,741

3

Schedule of Investments  (unaudited) (continued) October 31, 2021 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Texas (continued)
North Texas Tollway Authority, Refunding RB, 3.01%, 01/01/43		$	6,800			$	6,932,464
Port Beaumont Navigation District, Refunding RB, Series B, 6.00%, 01/01/25(a)			1,085				1,119,380
Port of Beaumont Industrial Development Authority RB, 4.10%, 01/01/28(a)			10,500				10,126,253
Texas Private Activity Bond Surface Transportation Corp., RB, Series B, 3.92%, 12/31/49			20,000				22,483,900
							69,981,551
Utah — 2.4%
Utah Transit Authority, RB, BAB, 5.71%, 06/15/40(b)			26,405				36,201,941
Virginia — 2.7%
Tobacco Settlement Financing Corp., Refunding RB, Series A-1, 6.71%, 06/01/46			31,220				32,624,057
Virginia Housing Development Authority, RB, M/F Housing, Series D, 3.64%, 06/01/45(b)			8,435				8,902,552
							41,526,609
Washington — 1.8%
Washington State Convention Center Public Facilities District, RB, BAB, 6.79%, 07/01/40			20,895				26,799,614
West Virginia — 3.6%
Tobacco Settlement Finance Authority, RB, Series B, 0.00%, 06/01/47(e)			1,600				174,309
Tobacco Settlement Finance Authority, Refunding RB
Series A, Class 1, 4.31%, 06/01/49			40,000				41,440,400
Series B, Class 2, 4.88%, 06/01/49			12,175				12,738,580
							54,353,289
Wisconsin — 0.5%
Public Finance Authority, RB
6.75%, 11/01/24(a)			3,580				3,566,296
4.75%, 06/15/25(a)			735				734,375
5.38%, 06/15/28(a)			400				400,551
5.25%, 01/01/31(a)			1,410				1,419,168
Series B, 6.00%, 06/15/24			435				437,436
Public Finance Authority, Refunding RB, Series B, 6.13%, 10/01/49(a)			1,470				1,577,326
							8,135,152
Total Municipal Bonds — 135.1% (Cost: $1,615,809,210)							2,046,866,955
Total Long-Term Investments — 145.2% (Cost: $1,744,634,297)							2,200,421,961

Security		Shares				Value
Short-Term Securities
Money Market Funds — 0.4%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.01%(g)(h)			6,511,410			$	6,511,410
Total Short-Term Securities — 0.4% (Cost: $6,511,410)							6,511,410
Total Investments — 145.6% (Cost: $1,751,145,707)							2,206,933,371
Liabilities in Excess of Other Assets — (45.6)%							(691,659,629	)
Net Assets — 100.0%						$	1,515,273,742

^(a)  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.

^(b)  All or a portion of the security has been pledged as collateral in connection with outstanding reverse repurchase agreements.

^(c)  Issuer filed for bankruptcy and/or is in default.

^(d)  Non-income producing security.

^(e)  Zero-coupon bond.

^(f)  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.

^(g)  Affiliate of the Trust.

^(h)  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.

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, 2021 BlackRock Taxable Municipal Bond Trust (BBN)     

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer		Value at 07/31/21				Purchases at Cost				Proceeds from Sales				Net Realized Gain (Loss)				Change in Unrealized Appreciation (Depreciation)				Value at 10/31/21				Shares Held at 10/31/21				Income				Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class		$	6,413,514			$	97,896	(a)		$	—			$	—			$	—			$	6,511,410				6,511,410			$	265			$	—

^(a) Represents net amount purchased (sold).

Reverse Repurchase Agreements

Counterparty

Interest   Rate

Trade Date

Maturity Date

(a)

Face Value

Face Value Including Accrued Interest

Type of Non-Cash Underlying Collateral

Remaining Contractual Maturity of the Agreements

(a)

Barclays Bank PLC

0.35

%(b)

06/09/21

Open

$

1,082,244

$

1,083,759

Municipal Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.30

(b)

06/09/21

Open

6,267,938

6,275,459

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.30

(b)

06/09/21

Open

8,458,414

8,468,564

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.30

(b)

06/09/21

Open

13,612,500

13,628,835

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.30

(b)

06/09/21

Open

6,731,250

6,739,328

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.28

(b)

06/09/21

Open

8,069,688

8,078,726

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/09/21

Open

34,620,000

34,682,316

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/09/21

Open

7,212,500

7,225,483

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/09/21

Open

49,342,500

49,431,316

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/09/21

Open

28,216,012

28,266,801

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/09/21

Open

32,070,000

32,127,726

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/09/21

Open

31,080,106

31,136,050

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

06/11/21

Open

22,087,500

22,117,564

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

06/11/21

Open

6,087,500

6,095,786

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

06/11/21

Open

4,850,000

4,856,601

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

06/11/21

Open

21,735,000

21,764,584

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

06/11/21

Open

2,984,375

2,988,437

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

06/11/21

Open

9,030,000

9,042,291

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

06/11/21

Open

17,681,250

17,705,316

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

06/11/21

Open

3,948,000

3,953,374

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

06/11/21

Open

10,181,125

10,194,983

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.40

(b)

06/11/21

Open

8,677,500

8,690,998

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/11/21

Open

14,557,644

14,583,120

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/11/21

Open

7,200,000

7,212,600

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/11/21

Open

15,562,500

15,589,734

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/11/21

Open

3,666,156

3,672,572

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/11/21

Open

16,692,500

16,721,712

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/11/21

Open

15,231,769

15,258,424

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/11/21

Open

39,865,000

39,934,764

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/11/21

Open

27,580,400

27,628,666

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.30

(b)

06/23/21

Open

7,461,825

7,469,971

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.40

(b)

06/29/21

Open

15,574,325

15,595,783

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.40

(b)

06/29/21

Open

15,712,500

15,734,148

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

06/30/21

Open

18,956,250

18,985,632

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

07/27/21

Open

8,582,612

8,592,912

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

07/27/21

Open

26,900,000

26,932,280

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

08/02/21

Open

21,327,500

21,345,954

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

08/02/21

Open

12,125,000

12,135,609

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

08/02/21

Open

17,972,500

17,988,051

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

08/02/21

Open

13,287,500

13,299,127

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

08/02/21

Open

4,760,000

4,764,119

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

08/02/21

Open

13,837,500

13,849,473

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.35

(b)

08/02/21

Open

12,612,500

12,623,536

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

08/02/21

Open

5,494,500

5,500,681

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

08/02/21

Open

6,781,250

6,788,879

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

08/02/21

Open

4,230,000

4,234,759

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.45

(b)

08/02/21

Open

7,875,000

7,883,859

Municipal Bonds

Open/Demand

5

Schedule of Investments  (unaudited) (continued) October 31, 2021 BlackRock Taxable Municipal Bond Trust (BBN)     

Reverse Repurchase Agreements (continued)

Counterparty

Interest   Rate

Trade Date

Maturity Date

(a)

Face Value

Face Value Including Accrued Interest

Type of Non-Cash Underlying Collateral

Remaining Contractual Maturity of the Agreements

(a)

RBC Capital Markets LLC

0.45

%(b)

08/02/21

Open

$

3,195,000

$

3,198,594

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.40

(b)

08/03/21

Open

23,925,000

23,948,659

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.25

(b)

10/26/21

Open

11,178,285

11,178,751

Corporate Bonds

Open/Demand

$

726,170,418

$

727,206,666

^(a)  Certain agreements have no stated maturity and can be terminated by either party at any time.

^(b)  Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description		Number of Contracts				Expiration Date				Notional Amount (000)				Value/ Unrealized Appreciation (Depreciation)
Short Contracts
10-Year U.S. Treasury Note			1,341				12/21/21			$	175,210			$	2,891,352
U.S. Long Bond			1,492				12/21/21				239,932				2,321,645
5-Year U.S. Treasury Note			655				12/31/21				79,710				992,397
														$	6,205,394

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 BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global 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
Corporate Bonds		$	—			$	153,555,006			$	—			$	153,555,006
Municipal Bonds			—				2,046,866,955				—				2,046,866,955
Short-Term Securities
Money Market Funds			6,511,410				—				—				6,511,410
		$	6,511,410			$	2,200,421,961			$	—			$	2,206,933,371

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, 2021 BlackRock Taxable Municipal Bond Trust (BBN)     

Fair Value Hierarchy as of Period End (continued)

		Level 1				Level 2				Level 3				Total
Derivative Financial Instruments(a)
Assets
Interest Rate Contracts		$	6,205,394			$	—			$	—			$	6,205,394

^(a) Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount or face value, including accrued interest, for financial statement purposes. As of period end, reverse repurchase agreements of $727,206,666 are categorized as Level 2 within the fair value hierarchy.

Portfolio Abbreviation

AGM		Assured Guaranty Municipal Corp.
AGM-CR		AGM Insured Custodial Receipt
ARB		Airport Revenue Bonds
BAB		Build America Bond
CAB		Capital Appreciation Bonds
COP		Certificates of Participation
CR		Custodian Receipt
GO		General Obligation Bonds
M/F		Multi-Family
NPFGC		National Public Finance Guarantee Corp.
RB		Revenue Bond
SAP		Subject to Appropriations
TA		Tax Allocation

7