NPORT-EX 2 NPORT_89J1_87637330_0922.htm

BlackRock Taxable Municipal Bond Trust

Schedule of Investments  (unaudited)  September 30, 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)		$	2,417			$	2,575,302
Education — 3.7%
Grand Canyon University, 5.13%, 10/01/28			9,377				8,483,653
Massachusetts Higher Education Assistance Corp., Series 2021, 2.67%, 07/01/31			5,000				4,130,680
Rensselaer Polytechnic Institute, 5.25%, 09/01/48			18,190				17,186,526
Wesleyan University, 4.78%, 07/01/2116(b)			11,000				9,015,169
							38,816,028
Electric Utilities — 0.7%
Rayburn Country Securitization LLC, 3.35%, 12/01/51(a)			10,000				7,419,294
Health Care Providers & Services — 3.0%
Baptist Health Obligated Group, Series 2019, 4.10%, 12/01/49			6,300				5,008,319
Ochsner Clinic Foundation, 5.90%, 05/15/45(b)			5,000				4,912,162
PeaceHealth Obligated Group, Series 2018, 4.79%, 11/15/48(b)			5,065				4,421,677
West Virginia United Health System Obligated Group, Series 2018, 4.92%, 06/01/48			20,000				17,354,028
							31,696,186
Real Estate Management & Development — 0.7%
Bridge Housing Corp., 3.25%, 07/15/30			9,020				7,553,380
Total Corporate Bonds — 8.3% (Cost: $102,038,010)							88,060,190
Municipal Bonds
Arizona — 2.3%
Salt River Project Agricultural Improvement & Power District, RB, BAB, 4.84%, 01/01/41(b)			24,545				23,921,508
California — 29.7%
Alameda Corridor Transportation Authority, Refunding RB, CAB, Series B, Senior Lien, 0.00%, 10/01/42(c)			5,000				1,316,250
Alameda County Joint Powers Authority, RB, BAB, Series A, 7.05%, 12/01/44			11,000				13,038,960
Bay Area Toll Authority, RB, BAB(b)
Series S-1, 6.92%, 04/01/40			13,700				15,676,896
Series S-3, 6.91%, 10/01/50			14,000				17,145,744
California Infrastructure & Economic Development Bank, RB, 5.50%, 01/01/38(a)			5,000				4,479,900
California State Public Works Board, RB, BAB, Series G-2, 8.36%, 10/01/34			18,145				22,526,382
City of Chula Vista California, RB
2.40%, 06/01/36			1,275				875,731
2.91%, 06/01/45			9,185				5,672,445
City of El Cajon California, RB, Series A, 3.28%, 04/01/43			2,605				1,810,717
City of Huntington Beach California, Refunding RB
2.91%, 06/15/35			2,000				1,550,310
3.28%, 06/15/40			6,000				4,485,588
3.38%, 06/15/44			5,000				3,612,425
City of Orange California, RB, (BAM), 3.12%, 06/01/44			2,000				1,234,544

Security		Par (000)				Value
California (continued)
City of Riverside California, RB, Series A, 3.86%, 06/01/45		$	8,265			$	6,538,119
City of San Francisco California Public Utilities Commission Water Revenue, RB, BAB, Series DE, 6.00%, 11/01/40(b)			21,255				22,496,972
County of Riverside California, RB, 3.82%, 02/15/38			6,450				5,530,727
County of Sonoma California, Refunding RB, Series A, 6.00%, 12/01/29			12,415				12,700,384
Foothill-Eastern Transportation Corridor Agency, Refunding RB
Series A, 4.09%, 01/15/49			24,340				17,963,358
Series A, (AGM), 3.92%, 01/15/53			7,202				5,326,722
Golden State Tobacco Securitization Corp., Refunding RB
Class B, (SAP), 3.29%, 06/01/42			11,170				8,167,057
Series S-1, 4.21%, 06/01/50			30,775				21,316,673
Inland Empire Tobacco Securitization Corp., Refunding RB, 3.68%, 06/01/38(b)			7,270				5,873,266
Los Angeles Community College District/CA, GO, BAB, 6.60%, 08/01/42			10,000				11,253,110
Orange County Local Transportation Authority Sales Tax Revenue, Refunding RB, Series A, 6.91%, 02/15/41(b)			5,000				5,485,425
San Diego County Regional Airport Authority, ARB, Series B, 5.59%, 07/01/43			3,900				3,597,688
State of California, GO, BAB
7.55%, 04/01/39			9,035				11,114,450
7.63%, 03/01/40			8,950				11,016,054
7.60%, 11/01/40			15,000				18,748,485
University of California, RB, BAB
5.95%, 05/15/45(b)			24,000				25,430,712
6.30%, 05/15/50			27,010				28,386,970
							314,372,064
Colorado — 3.9%
Colorado Health Facilities Authority, Refunding RB, Series B, 4.48%, 12/01/40			9,485				7,744,702
Denver City & County School District No.1, Refunding COP, Series B, 7.02%, 12/15/37			6,000				6,943,536
Regional Transportation District, COP, BAB, Series B, 7.67%, 06/01/40(b)			23,000				26,899,190
							41,587,428
Connecticut — 0.5%
Connecticut State Health & Educational Facilities Authority, Refunding RB, Series G-2, 4.25%, 07/01/27(a)			5,055				4,811,860
District of Columbia — 2.3%
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, ARB, BAB, Series D, 8.00%, 10/01/47(b)			10,750				13,215,835
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, RB, BAB, 7.46%, 10/01/46			9,235				10,904,208
							24,120,043
Florida — 3.9%
Capital Trust Agency, Inc., RB(a)
5.00%, 01/01/25			525				514,402
5.50%, 06/15/26			445				420,990
Excelsior Academies, Inc., RB, Series C, 5.25%, 11/01/25			490				482,000

1

Schedule of Investments  (unaudited) (continued) September 30, 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)
6.75%, 12/15/28		$	690			$	686,275
Class B, 5.00%, 06/15/25			285				274,273
Series B, 5.75%, 06/15/25			735				718,219
Series D, 5.75%, 12/15/26			650				613,874
Florida Development Finance Corp., Refunding RB, Series B, 4.11%, 04/01/50			15,000				11,162,040
Miami-Dade County Educational Facilities Authority, Refunding RB, Series B, 5.07%, 04/01/50			12,250				11,392,966
Miami-Dade County Industrial Development Authority, RB, 5.25%, 11/01/25			180				177,097
Sumter Landing Community Development District, RB, 4.17%, 10/01/47(b)			2,575				2,143,252
Village Center Community Development District, Refunding RB, 5.02%, 11/01/36			13,500				13,119,529
							41,704,917
Georgia — 6.0%
East Point Business & Industrial Development Authority, RB, Series B, 5.25%, 06/15/31(a)			860				827,833
Municipal Electric Authority of Georgia, Refunding RB
6.64%, 04/01/57			26,065				27,389,154
6.66%, 04/01/57			24,090				25,515,767
7.06%, 04/01/57			9,645				9,571,177
							63,303,931
Idaho — 0.1%
Idaho Housing & Finance Association, RB
4.75%, 06/15/29(a)			235				210,958
Series B, 7.15%, 06/15/31			625				551,304
							762,262
Illinois — 16.8%
Chicago Board of Education, GO, 6.32%, 11/01/29			9,465				9,079,017
Chicago Board of Education, GO, BAB
6.04%, 12/01/29			12,935				12,202,116
6.14%, 12/01/39			370				322,167
6.52%, 12/01/40			9,745				8,478,384
Chicago O’Hare International Airport, Refunding ARB, Series B, 6.40%, 01/01/40			1,500				1,657,374
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue, RB
Series A, 6.90%, 12/01/40(b)			4,075				4,515,369
Series B, 6.90%, 12/01/40			4,900				5,490,371
Chicago Transit Authority Sales Tax Receipts Fund, RB, BAB, Series B, 6.20%, 12/01/40(b)			16,015				17,088,069
City of Chicago Illinois Wastewater Transmission Revenue, RB, BAB, Series B, 2nd Lien, 6.90%, 01/01/40			36,000				37,825,128
City of Chicago Illinois Waterworks Revenue, RB, BAB, Series B, 6.74%, 11/01/40(b)			15,250				17,074,983
Illinois Municipal Electric Agency, RB, BAB, 7.29%, 02/01/35(b)			15,000				16,924,740
Northern Illinois Municipal Power Agency, RB, BAB, 7.82%, 01/01/40			5,000				5,850,410

Security		Par (000)				Value
Illinois (continued)
State of Illinois, GO, BAB 6.73%, 04/01/35		$	6,320			$	6,450,015
7.35%, 07/01/35(b)			33,294				34,673,030
							177,631,173
Indiana — 1.8%
Indiana Finance Authority, RB, BAB, Series B, 6.60%, 02/01/39(b)			7,900				8,907,139
Indiana Municipal Power Agency, RB, BAB, Series A, 5.59%, 01/01/42			10,000				9,868,350
							18,775,489
Kentucky — 1.4%
Westvaco Corp., RB, 7.67%, 01/15/27(a)			13,800				14,700,712
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				1,783,495
Maryland — 0.9%
Maryland Economic Development Corp., RB, 4.00%, 04/01/34			10,470				8,330,382
Maryland Health & Higher Educational Facilities Authority, RB, Series B, 6.25%, 03/01/27(a)			1,000				946,873
							9,277,255
Massachusetts — 2.8%
Commonwealth of Massachusetts Transportation Fund Revenue, RB, BAB, 5.73%, 06/01/40(b)			5,000				5,183,970
Massachusetts Educational Financing Authority, RB, Series A, 3.61%, 07/01/36			10,585				8,295,983
Massachusetts Educational Financing Authority, Refunding RB, Series A, 4.95%, 07/01/38			17,295				16,147,892
							29,627,845
Michigan — 4.4%
Michigan Finance Authority, RB
6.38%, 06/01/33(a)			1,000				940,642
Series D, 5.02%, 11/01/43			7,500				6,839,340
Michigan Finance Authority, Refunding RB, Series A, 3.27%, 06/01/39			10,000				7,478,710
Michigan Finance Authority, Refunding RB, CAB, Series B, 0.00%, 06/01/45(c)			50,000				10,333,650
Michigan State University, RB, BAB, Series A, 6.17%, 02/15/50			5,500				5,793,574
Michigan State University, Refunding RB, Series A, 4.50%, 08/15/48			14,575				12,904,953
Michigan Strategic Fund, RB, 2.58%, 09/01/35			1,800				1,336,118
Western Michigan University, Refunding RB, Series B, (AGM), 2.88%, 11/15/43			1,500				975,558
							46,602,545

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) September 30, 2022 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Minnesota — 1.3%
Southern Michigannnesota Municipal Power Agency, Refunding RB, Series A, 5.93%, 01/01/43		$	8,000			$	8,295,544
Western Minnesota Municipal Power Agency, RB, BAB, 6.77%, 01/01/46			5,000				5,738,990
							14,034,534
Mississippi — 0.5%
Mississippi Development Bank, RB, BAB, 6.41%, 01/01/40			5,000				5,314,255
Missouri — 1.9%
Curators of the University of Missouri, RB, BAB, 5.79%, 11/01/41(b)			7,000				7,300,636
Missouri Joint Municipal Electric Utility Commission, RB, BAB, 7.73%, 01/01/39			11,000				13,027,311
							20,327,947
Nevada — 0.3%
City of North Las Vegas NV, GO, BAB, 6.57%, 06/01/40			1,420				1,447,318
County of Clark Department of Aviation, ARB, BAB, Series C, 6.82%, 07/01/45			2,000				2,304,202
							3,751,520
New Hampshire — 2.4%
New Hampshire Business Finance Authority, Refunding RB
3.25%, 04/01/28			15,000				12,739,695
3.30%, 04/01/32			11,895				9,046,576
2.87%, 07/01/35			4,935				3,265,864
							25,052,135
New Jersey — 10.8%
New Jersey Economic Development Authority, RB, Series A, (NPFGC), 7.43%, 02/15/29(b)			20,974				22,418,312
New Jersey Educational Facilities Authority, Refunding RB, (AGM), 3.51%, 07/01/42(b)			20,000				14,937,680
New Jersey Transportation Trust Fund Authority, RB, BAB, Series C, 5.75%, 12/15/28			4,500				4,535,856
New Jersey Transportation Trust Fund Authority, Refunding RB, 4.13%, 06/15/42			29,355				23,575,059
New Jersey Turnpike Authority, RB, BAB(b)
Series A, 7.10%, 01/01/41			34,000				40,235,770
Series F, 7.41%, 01/01/40			6,790				8,265,134
							113,967,811
New York — 7.6%
Metropolitan Transportation Authority, RB, BAB
6.67%, 11/15/39			2,220				2,352,740
7.34%, 11/15/39(b)			13,245				15,970,688
Series TR, 6.69%, 11/15/40(b)			13,000				13,750,022
Metropolitan Transportation Authority, Refunding RB, Series C-2, 5.18%, 11/15/49			4,370				3,954,562
New York City Housing Development Corp., RB, M/F Housing, Series B, 3.10%, 11/01/45			1,310				867,022

Security		Par (000)				Value
New York (continued)
New York City Transitional Finance Authority Future Tax Secured Revenue, RB, BAB, 5.57%, 11/01/38(b)		$	19,000			$	19,062,871
New York State Dormitory Authority, RB, BAB, Series H, 5.39%, 03/15/40(b)			15,000				15,174,465
New York State Dormitory Authority, Refunding RB, Series B, 5.75%, 07/01/24(d)			6,010				6,136,084
Port Authority of New York & New Jersey, RB, Consolidated, 165th Series, 5.65%, 11/01/40			2,750				2,807,126
							80,075,580
Ohio — 5.9%
American Municipal Power, Inc., RB, Series B, 7.83%, 02/15/41			10,000				12,153,030
American Municipal Power, Inc., Refunding RB, Series B, 6.45%, 02/15/44			10,000				10,733,931
Franklin County Convention Facilities Authority, RB, BAB, 6.64%, 12/01/42(b)			30,575				31,209,982
Ohio University, RB, 5.59%, 12/01/2114			10,100				8,696,140
							62,793,083
Oklahoma — 1.6%
Oklahoma Development Finance Authority, RB
4.71%, 05/01/52			3,695				3,428,334
Series A-3, 5.09%, 02/01/52(b)			6,750				6,411,688
Series B, 11.00%, 09/01/41(a)			3,000				3,151,680
Oklahoma Municipal Power Authority, RB, BAB, 6.44%, 01/01/45(b)			3,500				3,796,947
							16,788,649
Pennsylvania — 3.9%
Commonwealth Financing Authority, RB
Series A, 4.14%, 06/01/38			6,200				5,284,062
Series A, 3.81%, 06/01/41			4,920				3,949,869
Series A, 2.99%, 06/01/42			11,285				7,933,423
Pennsylvania Economic Development Financing Authority, RB, BAB, Series B, 6.53%, 06/15/39			23,050				24,442,496
							41,609,850
Puerto Rico — 2.9%
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53			3,465				2,945,607
Series A-2, Restructured, 4.55%, 07/01/40			14,899				12,835,012
Series A-2, Restructured, 4.78%, 07/01/58			12,447				10,469,644
Series A-2, Restructured, 4.33%, 07/01/40			5,000				4,316,015
							30,566,278
South Carolina — 3.0%
South Carolina Jobs-Economic Development Authority, RB, 7.35%, 08/15/30(a)			710				681,787
South Carolina Public Service Authority, RB, Series F, (AGM-CR), 5.74%, 01/01/30			5,000				5,137,435
South Carolina Public Service Authority, RB, BAB, Series C, (AGM-CR), 6.45%, 01/01/50(b)			11,290				12,435,957

3

Schedule of Investments  (unaudited) (continued) September 30, 2022 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
South Carolina (continued)
South Carolina Public Service Authority, Refunding RB, Series D, 4.77%, 12/01/45		$	10,085			$	8,529,016
South Carolina Student Loan Corp., RB, Series A, 3.59%, 12/01/39			6,285				4,833,303
							31,617,498
Tennessee — 4.2%
Memphis-Shelby County Industrial Development Board, Refunding TA, Series B, 5.45%, 07/01/45			5,875				4,349,468
Metropolitan Government of Nashville & Davidson County Convention Center Auth, RB, BAB, Series A2, 7.43%, 07/01/43(b)			35,105				40,198,666
							44,548,134
Texas — 2.5%
Arlington Higher Education Finance Corp., RB, 5.50%, 04/01/30(a)			500				479,236
Arlington Higher Education Finance Corp., Refunding RB, Series B, 4.00%, 08/15/28			1,355				1,281,245
City of Austin Texas Rental Car Special Facility Revenue, ARB, 5.75%, 11/15/22(d)			5,000				5,010,010
City of San Antonio Texas Customer Facility Charge Revenue, ARB, 5.87%, 07/01/45			7,500				7,588,920
Dallas Area Rapid Transit, RB, BAB, 5.02%, 12/01/48(b)			2,500				2,434,822
New Hope Higher Education Finance Corp., RB, Class S, 5.00%, 06/15/27(a)			390				361,721
Port Beaumont Navigation District, Refunding RB, Series B, 6.00%, 01/01/25(a)			1,085				1,009,365
Port of Beaumont Industrial Development Authority, RB, 4.10%, 01/01/28(a)			10,500				8,217,405
							26,382,724
Utah — 2.4%
Utah Transit Authority, RB, BAB, 5.71%, 06/15/40(b)			26,405				25,743,238
Virginia — 3.2%
Tobacco Settlement Financing Corp., Refunding RB, Series A-1, 6.71%, 06/01/46			30,285				27,242,297
Virginia Housing Development Authority, RB, M/F Housing, Series D, 3.64%, 06/01/45(b)			8,435				6,655,510
							33,897,807
Washington — 2.0%
Washington State Convention Center Public Facilities District, RB, BAB, 6.79%, 07/01/40			20,170				21,071,357
West Virginia — 2.6%
Tobacco Settlement Finance Authority, RB, Series B, 0.00%, 06/01/47(c)			1,600				119,398

Security		Par (000)				Value
West Virginia (continued)
Tobacco Settlement Finance Authority, Refunding RB
Series A, Class 1, 4.31%, 06/01/49		$	25,000			$	17,108,550
Series B, Class 2, 4.88%, 06/01/49			12,175				10,335,638
							27,563,586
Wisconsin — 0.7%
Public Finance Authority, RB
6.75%, 11/01/24(a)			3,580				3,210,684
4.75%, 06/15/25(a)			735				713,631
5.38%, 06/15/28(a)			400				376,360
5.25%, 01/01/31(a)			1,335				1,247,030
Class S, 5.25%, 06/15/26(a)			180				173,049
Series B, 6.00%, 06/15/24			300				295,310
Public Finance Authority, Refunding RB, Series B, 6.13%, 10/01/49(a)			1,470				1,351,106
							7,367,170
Total Municipal Bonds — 136.7% (Cost: $1,500,291,993)							1,445,455,683
Total Long-Term Investments — 145.0% (Cost: $1,602,330,003)							1,533,515,873
		Shares
Short-Term Securities
Money Market Funds — 2.4%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 2.79%(e)(f)			25,356,702				25,356,702
Total Short-Term Securities — 2.4% (Cost: $25,356,702)							25,356,702
Total Investments — 147.4% (Cost: $1,627,686,705)							1,558,872,575
Liabilities in Excess of Other Assets — (47.4)%							(501,026,123	)
Net Assets — 100.0%						$	1,057,846,452

^(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) September 30, 2022 BlackRock Taxable Municipal Bond Trust (BBN)

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 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 09/30/22				Shares Held at 09/30/22				Income				Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class		$	8,612,214			$	16,744,488	(a)		$	—			$	—			$	—			$	25,356,702				25,356,702			$	156,822			$	—

^(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

3.35

%(b)

09/09/22

Open

$

19,689,342

$

19,716,361

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/09/22

Open

2,053,563

2,056,380

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/09/22

Open

7,969,762

7,980,699

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/09/22

Open

6,269,063

6,277,665

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/09/22

Open

4,039,344

4,044,887

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/09/22

Open

14,624,750

14,644,818

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/09/22

Open

12,496,250

12,513,398

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/09/22

Open

14,153,256

14,172,678

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.40

(b)

09/09/22

Open

14,850,956

14,871,727

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.40

(b)

09/09/22

Open

35,675,725

35,725,621

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.40

(b)

09/09/22

Open

7,117,500

7,127,455

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

5,931,250

5,939,702

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

38,590,000

38,644,991

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

22,875,694

22,908,292

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

26,130,000

26,167,235

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

15,600,000

15,622,230

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

6,674,194

6,683,704

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

24,268,869

24,303,452

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

28,470,000

28,510,570

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

30,275,000

30,318,142

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

6,570,263

6,579,625

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

13,773,437

13,793,065

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

5,643,750

5,651,792

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/09/22

Open

12,955,275

12,973,736

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.30

(b)

09/14/22

Open

5,884,594

5,891,263

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/14/22

Open

13,877,500

13,893,536

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/14/22

Open

3,482,500

3,486,524

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/14/22

Open

10,675,000

10,687,335

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/14/22

Open

20,525,000

20,549,630

Municipal Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

3.30

(b)

09/23/22

Open

8,882,500

8,886,571

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

3.30

(b)

09/23/22

Open

4,906,250

4,908,499

Corporate Bonds

Open/Demand

Credit Suisse Securities (USA) LLC

3.30

(b)

09/23/22

Open

4,514,181

4,516,250

Corporate Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/27/22

Open

13,350,000

13,353,727

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/27/22

Open

15,837,500

15,841,921

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/27/22

Open

4,737,500

4,738,823

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/27/22

Open

2,718,000

2,718,759

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/27/22

Open

7,900,000

7,902,205

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/27/22

Open

2,121,875

2,122,467

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/27/22

Open

17,290,000

17,294,827

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.35

(b)

09/27/22

Open

6,772,500

6,774,391

Municipal Bonds

Open/Demand

Barclays Bank PLC

3.40

(b)

09/27/22

Open

12,693,750

12,695,478

Municipal Bonds

Open/Demand

RBC Capital Markets LLC

3.45

(b)

09/28/22

Open

8,430,000

8,431,616

Municipal Bonds

Open/Demand

$

541,295,893

$

541,922,047

^(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.

5

Schedule of Investments  (unaudited) (continued) September 30, 2022 BlackRock Taxable Municipal Bond Trust (BBN)

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			1,009				12/20/22			$	113,071			$	5,501,037
U.S. Long Bond			1,624				12/20/22				205,436				12,833,536
														$	18,334,573

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
Corporate Bonds		$	—			$	88,060,190			$	—			$	88,060,190
Municipal Bonds			—				1,445,455,683				—				1,445,455,683
Short-Term Securities
Money Market Funds			25,356,702				—				—				25,356,702
		$	25,356,702			$	1,533,515,873			$	—			$	1,558,872,575
Derivative Financial Instruments(a)
Assets
Interest Rate Contracts		$	18,334,573			$	—			$	—			$	18,334,573

^(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 $541,922,047 are categorized as Level 2 within the fair value hierarchy.

Portfolio Abbreviation				Portfolio Abbreviation (continued)
AGM		Assured Guaranty Municipal Corp.		BAB		Build America Bond
AGM-CR		AGM Insured Custodial Receipt		BAM		Build America Mutual Assurance Co.
ARB		Airport Revenue Bonds		CAB		Capital Appreciation Bonds

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) September 30, 2022 BlackRock Taxable Municipal Bond Trust (BBN)

Portfolio Abbreviation (continued)
COP		Certificates of Participation
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