NPORT-EX 2 NPORT_89J1_66137167_0322.htm

FOR VALIDATION PURPOSES ONLY - [256777.TX]

Schedule of Investments (unaudited) March 31, 2022 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)		$	2,425			$	3,143,299
Education — 4.5%
George Washington University, Series 2018, 4.13%, 09/15/48(b)			7,191				7,615,420
Grand Canyon University, 5.13%, 10/01/28			9,377				9,163,205
Massachusetts Higher Education Assistance Corp., Series 2021, 2.67%, 07/01/31			10,000				9,434,221
Rensselaer Polytechnic Institute, 5.25%, 09/01/48			18,190				20,618,321
Wesleyan University, 4.78%, 07/01/2116(b)			11,000				12,263,777
							59,094,944
Electric Utilities — 0.7%
Rayburn Country Securitization LLC, 3.35%, 12/01/51(a)			10,000				9,501,376
Health Care Providers & Services — 5.0%
Baptist Health Obligated Group, Series 2019, 4.10%, 12/01/49			11,300				10,561,525
CommonSpirit Health, 3.82%, 10/01/49(b)			7,750				7,594,651
Kaiser Foundation Hospitals, Series 2021, 2.81%, 06/01/41(b)			7,366				6,432,008
Ochsner Clinic Foundation, 5.90%, 05/15/45(b)			5,000				6,237,762
PeaceHealth Obligated Group, Series 2018, 4.79%, 11/15/48(b)			5,065				5,915,836
Piedmont Healthcare, Inc., Series 2042, 2.72%, 01/01/42			8,207				6,835,870
West Virginia United Health System Obligated Group, Series 2018, 4.92%, 06/01/48			20,000				22,618,201
							66,195,853
Real Estate Management & Development — 0.7%
Bridge Housing Corp., 3.25%, 07/15/30			9,020				8,692,861
Total Corporate Bonds — 11.1% (Cost: $142,675,125)							146,628,333
Municipal Bonds
Arizona — 2.2%
Salt River Project Agricultural Improvement & Power District, RB, BAB, 4.84%, 01/01/41(b)			24,545				28,838,976
California — 30.1%
Alameda County Joint Powers Authority, RB, BAB, Series A, 7.05%, 12/01/44(b)			11,000				16,069,724
Bay Area Toll Authority, RB, BAB(b)
Series S-1, 6.92%, 04/01/40			13,700				18,564,788
Series S-3, 6.91%, 10/01/50			14,000				21,485,030
California Infrastructure & Economic Development Bank, RB, 5.50%, 01/01/38(a)			5,000				4,839,510
California State Public Works Board, RB, BAB, Series G-2, 8.36%, 10/01/34(b)			18,145				25,398,645
City of Chula Vista California, RB, 2.91%, 06/01/45			9,185				7,855,903
City of El Cajon, RB, Series A, 3.28%, 04/01/43			2,605				2,452,806
City of Huntington Beach California, Refunding RB, 3.38%, 06/15/44			5,000				4,650,950
City of Riverside California, RB, Series A, 3.86%, 06/01/45			8,265				8,031,067
City of San Francisco California Public Utilities Commission Water Revenue, RB, BAB, Series DE, 6.00%, 11/01/40(b)			21,255				26,517,526

Security		Par (000)				Value
California (continued)
County of Riverside California, RB, 3.82%, 02/15/38		$	11,450			$	11,448,821
County of Sonoma California, Refunding RB, Series A, 6.00%, 12/01/29(b)			12,415				13,741,158
Foothill-Eastern Transportation Corridor Agency, Refunding RB
Series A, 4.09%, 01/15/49			24,340				24,707,923
Series A, (AGM), 3.92%, 01/15/53			7,202				7,065,933
Golden State Tobacco Securitization Corp., Refunding RB
(SAP), 3.29%, 06/01/42			11,170				10,303,052
3.85%, 06/01/50			7,925				7,573,827
Series S-1, 4.21%, 06/01/50			23,275				20,744,495
Inland Empire Tobacco Securitization Corp., Refunding RB, 3.68%, 06/01/38			8,435				8,006,435
Los Angeles Community College District, GO, BAB, 6.60%, 08/01/42			10,000				14,137,340
Los Angeles Unified School District, GO, BAB, Series RY, 6.76%, 07/01/34			10,000				12,687,990
Orange County Local Transportation Authority, Refunding RB, BAB, Series A, 6.91%, 02/15/41(b)			5,000				6,609,500
San Diego County Regional Airport Authority, Refunding ARB, Series B, 5.59%, 07/01/43			4,000				4,158,396
State of California, GO, BAB
7.55%, 04/01/39(b)			9,035				13,430,997
7.63%, 03/01/40			8,950				13,143,988
7.60%, 11/01/40			15,000				22,835,895
University of California, RB, BAB
5.95%, 05/15/45(b)			24,000				29,838,456
6.30%, 05/15/50			27,010				31,926,630
University of California, Refunding RB, Series J, 4.13%, 05/15/45			8,185				8,352,072
							396,578,857
Colorado — 3.8%
Colorado Health Facilities Authority, Refunding RB, Series B, 4.48%, 12/01/40			9,485				9,540,772
Denver City & County School District No.1, Refunding COP, Series B, 7.02%, 12/15/37			6,000				7,994,946
Regional Transportation District, COP, BAB, Series B, 7.67%, 06/01/40(b)			23,000				32,813,336
							50,349,054
Connecticut — 0.4%
Connecticut State Health & Educational Facilities Authority, Refunding RB, Series G-2, 4.25%, 07/01/27(a)			5,055				4,986,778
District of Columbia — 2.4%
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, ARB, BAB, Series D, 8.00%, 10/01/47(b)			10,750				16,951,718
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, RB, BAB, 7.46%, 10/01/46			9,235				14,144,631
							31,096,349
Florida — 4.3%
Capital Trust Agency, Inc., RB(a)
5.00%, 01/01/25			605				598,090
5.50%, 06/15/26			445				432,374
Excelsior Academies, Inc., RB, Series C, 5.25%, 11/01/25			490				486,965
Florida Development Finance Corp., RB(a) 5.00%, 06/15/25			285				278,966

1

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Florida (continued)
Florida Development Finance Corp., RB(a) (continued)
Series B, 5.75%, 06/15/25		$	735			$	729,152
Series D, 5.75%, 12/15/26			650				630,914
Florida Development Finance Corp., Refunding RB, Series B, 4.11%, 04/01/50			15,000				13,957,170
Miami-Dade County Educational Facilities Authority, Refunding RB, Series B, 5.07%, 04/01/50			12,250				14,594,221
Miami-Dade County Industrial Development Authority, RB, 5.25%, 11/01/25			180				178,897
Miami-Dade County, Refunding RB, Series 2, Subordinate, 2.54%, 10/01/33			7,500				6,820,073
Sumter Landing Community Development District, RB, 4.17%, 10/01/47			2,575				2,637,742
Village Center Community Development District, Refunding RB, 5.02%, 11/01/36			13,500				15,118,880
							56,463,444
Georgia — 6.1%
Municipal Electric Authority of Georgia, Refunding RB, BAB
6.64%, 04/01/57			26,065				34,793,387
6.66%, 04/01/57			24,090				32,820,047
7.06%, 04/01/57			9,645				12,847,748
							80,461,182
Idaho — 0.1%
Idaho Housing & Finance Association, RB
4.75%, 06/15/29(a)			235				223,440
Series B, 7.15%, 06/15/31			625				590,276
							813,716
Illinois — 16.4%
Chicago Board of Education, GO, 6.32%, 11/01/29			9,465				10,488,839
Chicago Board of Education, GO, BAB
6.04%, 12/01/29			12,935				13,899,382
6.14%, 12/01/39			2,085				2,331,933
6.52%, 12/01/40			9,745				11,325,620
Chicago O’Hare International Airport, Refunding ARB, BAB, Series B, 6.40%, 01/01/40			1,500				2,009,367
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue, RB, Series A, 6.90%, 12/01/40(b)			4,075				5,211,236
Chicago Transit Authority Sales Tax Receipts Fund, RB, Series B, 6.90%, 12/01/40			4,900				6,314,307
Chicago Transit Authority Sales Tax Receipts Fund, RB, BAB, Series B, 6.20%, 12/01/40(b)			16,015				19,523,518
Chicago Transit Authority Sales Tax Receipts Fund, Refunding RB, Series B, 3.91%, 12/01/40			3,960				3,944,619
City of Chicago Illinois Wastewater Transmission Revenue, RB, BAB, Series B, 6.90%, 01/01/40			36,000				46,517,688
City of Chicago Illinois Waterworks Revenue, RB, BAB, Series B, 6.74%, 11/01/40			15,250				19,849,003
Illinois Municipal Electric Agency, RB, BAB, 7.29%, 02/01/35(b)			15,000				18,496,740
Northern Illinois Municipal Power Agency, RB, BAB, 7.82%, 01/01/40			5,000				7,046,705
State of Illinois, GO, BAB
6.73%, 04/01/35			6,320				7,218,843
7.35%, 07/01/35(b)			35,855				41,483,661
							215,661,461

Security		Par (000)				Value
Indiana — 2.0%
Indiana Finance Authority, RB, BAB, Series B, 6.60%, 02/01/39(b)		$	7,900			$	10,486,799
Indiana Finance Authority, Refunding RB, 3.31%, 03/01/51			4,180				3,735,520
Indiana Municipal Power Agency, RB, BAB, Series A, 5.59%, 01/01/42			10,000				12,213,840
							26,436,159
Kentucky — 1.7%
Kentucky Public Transportation Infrastructure Authority, Refunding RB, (AGM), 3.22%, 07/01/53			7,245				6,251,254
Westvaco Corp., RB, 7.67%, 01/15/27(a)			13,800				15,558,548
							21,809,802
Louisiana — 1.0%
City of New Orleans LA Sewerage Service Revenue, Refunding RB
(AGM), 2.84%, 06/01/41			3,840				3,282,739
(AGM), 2.94%, 06/01/45			4,000				3,436,748
City of New Orleans LA Water System Revenue, Refunding RB, (AGM), 2.89%, 12/01/41			3,180				2,739,109
Louisiana Local Government Environmental Facilities & Community Development Authority, Refunding RB, (AGM), 2.59%, 02/01/43(b)			4,800				4,109,976
							13,568,572
Maine — 0.2%
Maine Health & Higher Educational Facilities Authority, Refunding RB, Series B, (AGM ST INTRCPT ST RES FD GTY), 3.12%, 07/01/43			2,590				2,398,744
Maryland — 0.8%
Maryland Economic Development Corp., RB, 4.00%, 04/01/34			10,520				9,954,266
Maryland Health & Higher Educational Facilities Authority, RB, Series B, 6.25%, 03/01/27(a)			1,000				967,904
							10,922,170
Massachusetts — 2.3%
Commonwealth of Massachusetts Transportation Fund Revenue, RB, BAB, 5.73%, 06/01/40(b)			5,000				6,108,425
Massachusetts Educational Financing Authority, RB
Series A, 3.61%, 07/01/36			14,380				14,328,865
Series A, 2.64%, 07/01/37			11,925				10,442,436
							30,879,726
Michigan — 4.6%
Michigan Finance Authority, RB, Series D, 5.02%, 11/01/43			7,500				8,775,735
Michigan Finance Authority, Refunding RB, Series A, 3.27%, 06/01/39			10,000				9,418,530
Michigan Finance Authority, Refunding RB, CAB, Series B, 0.00%, 06/01/45(c)			50,000				13,102,500
Michigan State University, RB, BAB, Series A, 6.17%, 02/15/50			5,500				6,527,780
Michigan State University, Refunding RB, Series A, 4.50%, 08/15/48			14,575				15,575,807
Michigan Strategic Fund, RB, 3.23%, 09/01/47			8,340				7,628,673
							61,029,025

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Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Minnesota — 1.3%
Southern Minnesota Municipal Power Agency, Refunding RB, BAB, Series A, 5.93%, 01/01/43		$	8,000			$	10,325,816
Western Minnesota Municipal Power Agency, RB, BAB, 6.77%, 01/01/46			5,000				7,221,855
							17,547,671
Mississippi — 0.5%
Mississippi Development Bank, RB, BAB, 6.41%, 01/01/40			5,000				6,507,815
Missouri — 1.9%
Curators of the University of Missouri, RB, BAB, 5.79%, 11/01/41(b)			7,000				9,292,087
Missouri Joint Municipal Electric Utility Commission, RB, BAB, 7.73%, 01/01/39			11,000				15,597,098
							24,889,185
Nevada — 0.3%
City of North Las Vegas Nevada, GO, BAB, 6.57%, 06/01/40			1,420				1,706,096
County of Clark Department of Aviation, ARB, BAB, Series C, 6.82%, 07/01/45			2,000				2,895,624
							4,601,720
New Hampshire — 2.9%
New Hampshire Business Finance Authority, RB, 3.78%, 01/01/36			10,000				9,409,400
New Hampshire Business Finance Authority, Refunding RB
3.25%, 04/01/28			15,000				13,729,200
3.30%, 04/01/32			11,895				10,438,422
2.87%, 07/01/35			4,975				4,313,081
							37,890,103
New Jersey — 10.9%
New Jersey Economic Development Authority, RB, Series A, (NPFGC), 7.43%, 02/15/29(b)			20,974				24,587,589
New Jersey Educational Facilities Authority, Refunding RB, (AGM), 3.51%, 07/01/42(b)			20,000				19,718,020
New Jersey Transportation Trust Fund Authority, RB, BAB, Series C, 5.75%, 12/15/28			4,500				4,998,762
New Jersey Transportation Trust Fund Authority, Refunding RB, 4.13%, 06/15/42			29,355				29,184,712
New Jersey Turnpike Authority, RB, BAB(b)
Series A, 7.10%, 01/01/41			34,000				48,423,956
Series F, 7.41%, 01/01/40			6,790				9,927,951
Rutgers The State University of New Jersey, RB, Series P, 3.92%, 12/31/99			7,275				6,641,595
							143,482,585
New York — 8.8%
Metropolitan Transportation Authority, RB, BAB
6.67%, 11/15/39			2,220				2,787,914
7.34%, 11/15/39(b)			13,245				19,497,262
Series TR, 6.69%, 11/15/40(b)			13,000				16,637,322
Metropolitan Transportation Authority, Refunding RB, Series C-2, 5.18%, 11/15/49			4,370				4,991,995
New York City Transitional Finance Authority Future Tax Secured Revenue, RB, BAB, 5.57%, 11/01/38(b)			19,000				22,244,554
New York State Dormitory Authority, RB, BAB, Series H, 5.39%, 03/15/40(b)			15,000				17,626,605

Security		Par (000)				Value
New York (continued)
New York State Dormitory Authority, Refunding RB, Series B, 5.75%, 01/01/29		$	6,010			$	6,227,412
Port Authority of New York & New Jersey, ARB, Consolidated, 192nd Series, 4.81%, 10/15/65(b)			14,825				17,526,204
Port Authority of New York & New Jersey, RB
Consolidated, 165th Series, 5.65%, 11/01/40			2,750				3,393,769
Consolidated, 168th Series, 4.93%, 10/01/51			3,860				4,644,889
							115,577,926
Ohio — 5.9%
American Municipal Power, Inc., RB, Series B, 7.83%, 02/15/41			10,000				14,815,790
American Municipal Power, Inc., Refunding RB, BAB, Series B, 6.45%, 02/15/44			10,000				13,063,850
Franklin County Convention Facilities Authority, RB, BAB, 6.64%, 12/01/42(b)			30,575				39,205,313
Ohio University, RB, 5.59%, 12/01/2114			10,100				11,420,666
							78,505,619
Oklahoma — 0.6%
Oklahoma Development Finance Authority, RB, Series B, 11.00%, 09/01/41(a)			3,000				3,377,343
Oklahoma Municipal Power Authority, RB, BAB, 6.44%, 01/01/45(b)			3,500				4,645,946
							8,023,289
Pennsylvania — 4.0%
Commonwealth Financing Authority, RB
Series A, 3.86%, 06/01/38			2,210				2,237,019
Series A, 4.14%, 06/01/38			6,200				6,407,942
Series A, 3.81%, 06/01/41			4,920				4,923,951
Series A, 2.99%, 06/01/42			11,285				10,250,910
Pennsylvania Economic Development Financing Authority, RB, BAB, Series B, 6.53%, 06/15/39			23,050				29,486,344
							53,306,166
Puerto Rico — 2.8%
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53			3,465				3,671,601
Series A-2, Restructured, 4.33%, 07/01/40			5,000				5,162,950
Series A-2, Restructured, 4.55%, 07/01/40			14,899				14,906,152
Series A-2, Restructured, 4.78%, 07/01/58			12,447				13,107,288
							36,847,991
South Carolina — 2.9%
South Carolina Public Service Authority, RB, Series F, (AGM-CR), 5.74%, 01/01/30			5,000				5,614,470
South Carolina Public Service Authority, RB, BAB, Series C, (AGM-CR), 6.45%, 01/01/50(b)			11,290				15,386,701
South Carolina Public Service Authority, Refunding RB, Series D, 4.77%, 12/01/45			10,085				11,238,169
South Carolina Student Loan Corp., RB, Series A, 3.59%, 12/01/39			6,285				5,604,862
							37,844,202

3

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Tennessee — 3.9%
Memphis-Shelby County Industrial Development Board, Refunding TA, Series B, 5.45%, 07/01/45		$	5,875			$	4,952,578
Metropolitan Government of Nashville & Davidson County Convention Center Authority, RB, BAB, Series A2, 7.43%, 07/01/43(b)			35,105				46,772,006
							51,724,584
Texas — 4.2%
Arlington Higher Education Finance Corp., Refunding RB, Series B, 4.00%, 08/15/28			1,355				1,323,689
City of Austin TX Rental Car Special Facility Revenue, Refunding ARB, 5.75%, 11/15/22(d)			5,000				5,137,590
City of San Antonio Texas Customer Facility Charge Revenue, ARB, 5.87%, 07/01/45(b)			7,500				8,178,562
Dallas Area Rapid Transit, RB, BAB, 5.02%, 12/01/48(b)			2,500				2,997,548
New Hope Higher Education Finance Corp., RB, Class S, 5.00%, 06/15/27(a)			390				376,429
North Texas Tollway Authority, Refunding RB, 3.01%, 01/01/43			6,800				6,284,254
Port Beaumont Navigation District, Refunding RB, Series B, 6.00%, 01/01/25(a)			1,085				1,117,217
Port of Beaumont Industrial Development Authority, RB, 4.10%, 01/01/28(a)			10,500				9,697,747
Texas Private Activity Bond Surface Transportation Corp., RB, Series B, 3.92%, 12/31/49			20,000				20,488,680
							55,601,716
Utah — 2.5%
Utah Transit Authority, RB, BAB, 5.71%, 06/15/40(b)			26,405				32,944,357
Virginia — 3.0%
Tobacco Settlement Financing Corp., Refunding RB, Series A-1, 6.71%, 06/01/46			31,220				31,730,728
Virginia Housing Development Authority, RB, M/F Housing, Series D, 3.64%, 06/01/45(b)			8,435				8,334,640
							40,065,368
Washington — 1.9%
Washington State Convention Center Public Facilities District, RB, BAB, 6.79%, 07/01/40			20,895				24,995,017
West Virginia — 3.6%
Tobacco Settlement Finance Authority, RB, Series B, 0.00%, 06/01/47(c)			1,600				154,461
Tobacco Settlement Finance Authority, Refunding RB
Series A, Class 1, 4.31%, 06/01/49			40,000				35,307,120
Series B, Class 2, 4.88%, 06/01/49			12,175				11,907,430
							47,369,011

Security		Par (000)				Value
Wisconsin — 0.6%
Public Finance Authority, RB
6.75%, 11/01/24(a)		$	3,580			$	3,188,910
4.75%, 06/15/25(a)			735				722,780
5.38%, 06/15/28(a)			400				388,874
5.25%, 01/01/31(a)			1,385				1,347,137
Class S, 5.25%, 06/15/26(a)			200				196,046
Series B, 6.00%, 06/15/24			435				429,504
Public Finance Authority, Refunding RB, Series B, 6.13%, 10/01/49(a)			1,470				1,505,483
							7,778,734
Total Municipal Bonds — 140.9% (Cost: $1,639,151,086)							1,857,797,074
Total Long-Term Investments — 152.0% (Cost: $1,781,826,211)							2,004,425,407

		Shares
Short-Term Securities
Money Market Funds — 2.4%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.21%(e)(f)			31,495,797				31,495,797
Total Short-Term Securities — 2.4% (Cost: $31,495,797)							31,495,797
Total Investments — 154.4% (Cost: $1,813,322,008)							2,035,921,204
Liabilities in Excess of Other Assets — (54.4)%							(717,321,853	)
Net Assets — 100.0%						$	1,318,599,351

^(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)  Zero-coupon bond.

^(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)  Affiliate of the Trust.

^(f)  Annualized 7-day yield as of period end.

For Trust compliance purposes, the Trust’s industry classifications refer to one or more of the industry 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 industry 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) March 31, 2022 BlackRock Taxable Municipal Bond Trust (BBN)

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer		Value at 12/31/21				Purchases at Cost				Proceeds from Sales				Net Realized Gain (Loss)				Change in Unrealized Appreciation (Depreciation)				Value at 03/31/22				Shares Held at 03/31/22				Income				Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class		$	8,612,214			$	22,883,583	(a)		$	—			$	—			$	—			$	31,495,797				31,495,797			$	3,167			$	—

^(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

0.55

%(b)

06/23/21

Open

$

7,461,825

$

7,479,360

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

07/27/21

Open

8,582,613

8,609,111

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

07/27/21

Open

26,900,000

26,983,054

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

08/02/21

Open

21,327,500

21,377,264

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

08/02/21

Open

12,125,000

12,153,410

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

08/02/21

Open

17,972,500

18,014,436

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

08/02/21

Open

13,287,500

13,318,633

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

08/02/21

Open

4,760,000

4,771,107

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

08/02/21

Open

13,837,500

13,869,788

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

08/02/21

Open

12,612,500

12,642,052

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

08/02/21

Open

5,494,500

5,511,052

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

08/02/21

Open

6,781,250

6,801,679

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

08/02/21

Open

4,230,000

4,242,743

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

08/02/21

Open

7,875,000

7,898,723

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

08/02/21

Open

3,195,000

3,204,625

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.65

(b)

08/03/21

Open

23,925,000

23,988,800

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.50

(b)

12/01/21

Open

6,887,210

6,892,949

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

12/14/21

Open

10,813,075

10,827,537

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

12/14/21

Open

17,979,325

18,003,372

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

12/14/21

Open

18,476,562

18,501,275

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

17,212,500

17,216,516

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

4,615,000

4,616,077

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

1,037,838

1,038,080

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

20,055,000

20,059,679

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

21,137,500

21,142,432

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

9,796,000

9,798,286

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

3,660,000

3,660,854

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

8,566,250

8,568,249

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

5,975,000

5,976,394

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.60

(b)

03/07/22

Open

2,796,875

2,797,528

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.65

(b)

03/07/22

Open

14,871,512

14,875,478

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.65

(b)

03/07/22

Open

15,037,500

15,041,510

Municipal Bonds

Open/Demand

Barclays Bank PLC

0.65

(b)

03/07/22

Open

15,881,281

15,885,516

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.53

(b)

03/07/22

Open

7,507,813

7,509,214

Corporate Bonds

Open/Demand

RBC Capital Markets LLC

0.65

(b)

03/07/22

Open

8,317,500

8,319,718

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

29,970,000

29,978,991

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

45,900,000

45,913,770

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

33,270,000

33,279,981

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

36,680,000

36,691,004

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

29,269,912

29,278,693

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

6,931,250

6,933,329

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

13,710,612

13,714,726

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

27,551,794

27,560,059

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

18,225,000

18,230,468

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

26,400,975

26,408,895

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

6,693,750

6,695,758

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

16,445,000

16,449,934

Municipal Bonds

Open/Demand

5

Schedule of Investments (unaudited) (continued) March 31, 2022 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

0.70

%(b)

03/07/22

Open

$

3,373,250

$

3,374,262

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/07/22

Open

17,212,500

17,217,664

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

0.70

(b)

03/16/22

Open

13,516,831

13,519,366

Municipal Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.55

(b)

03/17/22

Open

5,533,513

5,534,696

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.55

(b)

03/17/22

Open

5,962,500

5,963,775

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.55

(b)

03/17/22

Open

11,618,750

11,621,235

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

0.55

(b)

03/17/22

Open

7,226,955

7,228,501

Corporate Bonds

Open/Demand

$

756,484,021

$

757,191,608

^(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			1,138				06/21/22			$	139,690			$	4,141,187
U.S. Long Bond			1,114				06/21/22				167,274				4,755,703
5-Year U.S. Treasury Note			579				06/30/22				66,327				1,669,132
														$	10,566,022

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		$	—			$	146,628,333			$	—			$	146,628,333
Municipal Bonds			—				1,857,797,074				—				1,857,797,074

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) March 31, 2022 BlackRock Taxable Municipal Bond Trust (BBN)

Fair Value Hierarchy as of Period End (continued)

		Level 1				Level 2				Level 3				Total
Short-Term Securities
Money Market Funds		$	31,495,797			$	—			$	—			$	31,495,797
		$	31,495,797			$	2,004,425,407			$	—			$	2,035,921,204
Derivative Financial Instruments(a)
Assets
Interest Rate Contracts		$	10,566,022			$	—			$	—			$	10,566,022

^(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 reporting purposes. As of period end, reverse repurchase agreements of $757,191,608 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
ST		Special Tax
TA		Tax Allocation

7