NPORT-EX 2 NPORT_D1Z1_29226783_0522.htm BlackRock Municipal Income Trust II

Schedule of Investments (unaudited) 

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds

    
Alabama — 3.5%            

Black Belt Energy Gas District, RB, Series A, 4.00%, 12/01/52(a)

   $ 3,660     $ 3,746,947  

County of Jefferson Alabama Sewer Revenue, Refunding RB

    

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

     540       566,104  

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

     1,320       1,387,972  

Series D, Sub Lien, 7.00%, 10/01/51

     4,335       4,769,588  

Health Care Authority of the City of Huntsville, RB

    

Series B1, 4.00%, 06/01/45

     855       846,973  

Series B1, (AGM), 3.00%, 06/01/50

     2,375       1,971,074  

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

     1,170       1,322,353  

Southeast Energy Authority A Cooperative District, RB, Series B, 4.00%, 12/01/51(a)

     7,255       7,425,783  
   

 

 

  
      22,036,794  
Arizona — 2.7%            

Arizona Industrial Development Authority, RB(b)

    

4.38%, 07/01/39

     225       228,591  

Series A, 5.00%, 07/01/39

     190       192,992  

Series A, 5.00%, 07/01/49

     210       211,913  

Series A, 5.00%, 07/01/54

     165       165,989  

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

       1,185       1,213,535  

Glendale Industrial Development Authority, RB

    

5.00%, 05/15/41

     100       103,871  

5.00%, 05/15/56

     400       410,540  

Industrial Development Authority of the City of Phoenix, RB

    

5.00%, 07/01/59

     465       484,667  

Series A, 5.00%, 07/01/46(b)

     1,825       1,848,727  

Industrial Development Authority of the City of Phoenix, Refunding RB, Series A, 5.00%, 07/01/35(b)

     275       279,266  

Industrial Development Authority of the County of Pima, RB(b)

    

5.00%, 06/15/47

     325       325,242  

5.00%, 07/01/49

     350       347,052  

Maricopa County Industrial Development Authority, Refunding RB

    

5.00%, 07/01/39(b)

     100       102,935  

5.00%, 07/01/54(b)

     210       212,755  

Series A, 4.13%, 09/01/38

     820       841,382  

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

     1,250       1,203,506  

Salt Verde Financial Corp., RB

    

5.00%, 12/01/32

     5,635       6,254,957  

5.00%, 12/01/37

     2,000       2,256,012  
   

 

 

  
        16,683,932  
Arkansas — 0.5%            

Arkansas Development Finance Authority, RB, Series A, AMT, 4.50%, 09/01/49(b)

     3,305       3,319,268  
   

 

 

  
California — 11.8%            

California Community Choice Financing Authority, RB, Series B-1, 4.00%, 02/01/52(a)

     11,505       11,917,017  

California County Tobacco Securitization Agency,

    

Refunding RB, Series A, 5.00%, 06/01/36

     350       350,183  
Security   Par
(000)		     Value  
California (continued)            

California Educational Facilities Authority, RB, Series V-1, 5.00%, 05/01/49

   $ 2,315     $ 3,016,690  

California Health Facilities Financing Authority, Refunding RB

    

5.00%, 08/01/50

     1,000       1,098,459  

Series A, 5.00%, 07/01/23(c)

     1,765       1,829,108  

Series A, 4.00%, 03/01/39

     890       896,127  

Series A, 4.00%, 04/01/45

       1,220       1,196,764  

California Housing Finance Agency, RB, M/F Housing

    

Class A, 3.25%, 08/20/36

     2,612       2,435,516  

Class A, (FHLMC ), 3.75%, 03/25/35

     4,960       5,087,497  

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

     780       693,032  

California Municipal Finance Authority, RB, S/F Housing

    

Series A, 5.25%, 08/15/39

     205       209,920  

Series A, 5.25%, 08/15/49

     510       522,510  

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

     2,130       2,136,026  

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

     1,700       1,753,881  

California State Public Works Board, RB

    

Series F, 5.25%, 09/01/33

     2,015       2,091,967  

Series I, 5.50%, 11/01/31

     3,100       3,243,967  

Series I, 5.50%, 11/01/33

     1,500       1,571,088  

Series I, 5.00%, 11/01/38

     1,065       1,102,305  

California Statewide Communities Development Authority, Refunding RB(b)

    

Series A, 5.00%, 06/01/36

     990       1,034,809  

Series A, 5.00%, 06/01/46

     1,220       1,252,424  

City of Los Angeles Department of Airports, Refunding ARB

    

AMT, 4.00%, 05/15/39

     435       435,906  

AMT, 4.00%, 05/15/40

     470       470,730  

AMT, 4.00%, 05/15/41

     550       557,118  

Series A, AMT, 5.00%, 05/15/38

     315       349,391  

Series A, AMT, 5.00%, 05/15/39

     340       376,353  

Series A, AMT, 5.00%, 05/15/46

     1,270       1,391,929  

CMFA Special Finance Agency XII, RB, M/F Housing, Series A, 3.25%, 02/01/57(b)

     525       389,327  

CSCDA Community Improvement Authority, RB, M/F Housing(b)

    

4.00%, 10/01/56

     245       227,713  

Series A, Class 2, 4.00%, 06/01/58

     1,500       1,278,347  

Senior Lien, 3.13%, 06/01/57

     1,670       1,205,889  

Series A, Class 2, Senior Lien, 4.00%, 12/01/58

     755       619,343  

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

     2,155         2,269,762  

Regents of the University of California Medical Center Pooled Revenue, RB, Series P, 4.00%, 05/15/53

     3,810       3,908,058  

Regents of the University of California Medical Center Pooled Revenue, Refunding RB

    

Series J, 5.25%, 05/15/23(c)

     3,905       4,042,624  

Series J, 5.25%, 05/15/38

     1,110       1,140,770  

Riverside County Public Financing Authority, RB, 5.25%, 11/01/25(c)

     2,000       2,218,412  

Riverside County Transportation Commission, Refunding RB

    

2nd Lien, 4.00%, 06/01/47

     715       694,435  
 

 

 

1  

Schedule of Investments (unaudited) (continued)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
California (continued)            

Riverside County Transportation Commission, Refunding RB (continued)

    

Senior Lien, 4.00%, 06/01/40

   $ 1,685     $ 1,702,964  

Senior Lien, 3.00%, 06/01/49

     490       383,463  

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

    

Series A, AMT, 5.50%, 05/01/28

     720       741,564  

Series A, AMT, 5.25%, 05/01/33

     560       574,521  

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

    

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

       3,000       2,047,941  

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

     2,500       1,109,865  

State of California, Refunding GO, 3.00%, 12/01/46

     550       485,953  

Stockton Public Financing Authority, RB, Series A, 6.25%, 10/01/23(c)

     490       519,723  

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

     830       868,402  
   

 

 

  
      73,449,793  
Colorado — 2.1%            

Arapahoe County School District No.6 Littleton, GO, Series A, (SAW), 5.50%, 12/01/43

     1,915       2,185,316  

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

     250       237,658  

City & County of Denver Colorado Airport System Revenue, ARB

    

Series B, 5.25%, 11/15/32

     1,750       1,819,520  

Series A, AMT, 5.50%, 11/15/28

     500       521,035  

Series A, AMT, 5.50%, 11/15/30

     225       234,274  

Series A, AMT, 5.50%, 11/15/31

     270       281,014  

City & County of Denver Colorado, RB, CAB, Series A-2, 0.00%, 08/01/38(d)

     1,835       951,321  

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

     320       327,495  

Colorado Educational & Cultural Facilities Authority, Refunding RB, Class A, 5.00%, 10/01/59(b)

     425       426,396  

Colorado Health Facilities Authority, Refunding RB, Series A, 4.00%, 08/01/44

     1,945       1,908,936  

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

     1,325       1,371,945  

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

     495       484,121  

Haskins Station Metropolitan District, GO, Series A, 5.00%, 12/01/39

     650       640,231  

State of Colorado, COP, BAB, Series O, 4.00%, 03/15/44

     1,405       1,420,971  
   

 

 

  
        12,810,233  
Connecticut — 0.7%            

State of Connecticut Special Tax Revenue, RB

    

Series A, 4.00%, 05/01/36

     365       381,897  

Series A, 4.00%, 05/01/39

     230       237,808  

State of Connecticut, GO, Series A, 4.00%, 01/15/38

     3,435       3,530,895  
   

 

 

  
      4,150,600  
Delaware — 0.2%            

Delaware Transportation Authority, RB, 5.00%, 06/01/55

     1,260       1,326,020  
   

 

 

  
District of Columbia — 3.1%            

District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-1, (FHA), 2.55%, 03/01/42

     1,120       911,841  
Security   Par (000)     Value  
District of Columbia (continued)            

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

   $   11,500     $ 11,841,182  

District of Columbia, Refunding RB

    

5.00%, 04/01/35

     465       500,158  

Series A, 6.00%, 07/01/23(c)

     820       858,952  

Catholic Health Services, 5.00%, 10/01/48

     2,525       2,727,818  

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

     690       691,748  

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

     1,995       1,884,144  
   

 

 

  
        19,415,843  
Florida — 6.3%            

Brevard County Health Facilities Authority, Refunding RB, Series A, 5.00%, 04/01/52

     3,310       3,641,616  

Capital Projects Finance Authority, Refunding RB

    

Series A-1, 5.00%, 10/01/32

     215       231,710  

Series A-1, 5.00%, 10/01/33

     240       257,560  

Series A-1, 5.00%, 10/01/34

     240       257,043  

Series A-1, 5.00%, 10/01/35

     80       85,469  

Capital Trust Agency, Inc., RB

    

Series A, 5.00%, 06/01/45(b)

     190       176,974  

Series A, 5.00%, 12/15/49

     140       142,676  

Series A, 5.00%, 12/15/54

     125       127,387  

Series A, 5.50%, 06/01/57(b)

     100       95,372  

Celebration Pointe Community Development District, SAB(b)

    

5.00%, 05/01/32

     215       221,306  

5.00%, 05/01/48

     530       537,957  

Collier County Health Facilities Authority, Refunding RB, Series A, 5.00%, 05/01/45

     1,450       1,494,928  

County of Broward Florida Airport System Revenue, ARB

    

Series A, AMT, 5.00%, 10/01/45

     575       598,165  

Series A, AMT, 4.00%, 10/01/49

     330       317,840  

County of Miami-Dade Florida Aviation Revenue, Refunding RB

    

Series A, 4.00%, 10/01/37

     355       359,786  

Series A, 4.00%, 10/01/38

     355       359,225  

Series A, 4.00%, 10/01/39

     265       267,411  

Series A, AMT, 5.00%, 10/01/22(c)

     2,165       2,189,954  

County of Miami-Dade Florida Water & Sewer System Revenue, Refunding RB, Series B, 5.25%, 10/01/23(c)

     500       523,305  

County of Miami-Dade Seaport Department, ARB(c)

    

Series A, 5.50%, 10/01/23

     2,125       2,230,164  

Series A, 6.00%, 10/01/23

     7,515       7,936,336  

Series B, AMT, 6.00%, 10/01/23

     1,775       1,870,888  

Series B, AMT, 6.25%, 10/01/23

     310       327,578  

County of Miami-Dade Seaport Department, Refunding RB, Series D, AMT, 6.00%, 10/01/23(c)

     735       774,275  

County of Osceola Florida Transportation Revenue, Refunding RB, CAB(d)

    

Series A-2, 0.00%, 10/01/46

     1,665       534,107  

Series A-2, 0.00%, 10/01/47

     1,610       491,031  

Series A-2, 0.00%, 10/01/48

     1,135       328,725  

Series A-2, 0.00%, 10/01/49

     935       257,567  

Florida Development Finance Corp., RB

    

Series A, 5.00%, 06/15/40

     240       250,052  

Series A, 5.00%, 06/15/50

     795       820,771  

Series A, 5.00%, 06/15/55

     475       490,200  
 

 

 

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)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Florida (continued)  

Florida Development Finance Corp., RB (continued)

    

AMT, 5.00%, 05/01/29(b)

   $ 180     $ 176,874  

Series A, AMT, 5.00%, 08/01/29(a)(b)

     100       100,013  

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

     105       108,544  

Hillsborough County Aviation Authority, Refunding RB, Sub-Series A, AMT, 5.50%, 10/01/23(c)

     1,170       1,224,872  

Jacksonville Port Authority, Refunding ARB, AMT, 5.00%, 11/01/22(c)

     1,665       1,687,641  

Lakewood Ranch Stewardship District, SAB

    

5.25%, 05/01/37

     180       187,165  

5.38%, 05/01/47

     185       191,447  

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

     25       25,057  

Miami Beach Health Facilities Authority, RB, 3.00%, 11/15/51

     525       406,634  

Orange County Health Facilities Authority, Refunding RB, 5.00%, 08/01/41

     1,000       1,058,688  

Osceola Chain Lakes Community Development District, SAB

    

4.00%, 05/01/40

     270       258,811  

4.00%, 05/01/50

     260       238,327  

Reedy Creek Improvement District, GO, Series A, 5.25%, 06/01/23(c)

     1,585       1,641,247  

Sarasota County Florida Utility System Revenue, RB, Series A, 5.00%, 10/01/50

     715       786,195  

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

     1,670       1,057,991  

Volusia County Educational Facility Authority, Refunding RB, 5.00%, 10/15/49

     1,930       2,106,066  
   

 

 

  
        39,452,950  
Georgia — 3.8%  

Gainesville & Hall County Hospital Authority, Refunding RB, Series A, (GTD), 5.50%, 02/15/25(c)

     715       781,591  

Georgia Housing & Finance Authority, RB, S/F Housing, Series B, 2.50%, 06/01/50

     795       619,966  

Main Street Natural Gas, Inc., RB

    

Series A, 5.00%, 05/15/35

     540       590,905  

Series A, 5.00%, 05/15/36

     540       592,230  

Series A, 5.00%, 05/15/37

     595       654,103  

Series A, 5.00%, 05/15/38

     325       358,202  

Series A, 5.00%, 05/15/49

     7,195       8,178,348  

Series C, 4.00%, 05/01/52(a)

     1,155       1,182,604  

Series C, RB, 4.00%, 03/01/50(a)

       2,755       2,800,361  

Municipal Electric Authority of Georgia, RB

    

4.00%, 01/01/49

     3,585       3,479,215  

4.00%, 01/01/59

     3,525       3,375,491  

Municipal Electric Authority of Georgia, Refunding RB, Sub-Series A, 4.00%, 01/01/49

     1,360       1,328,746  
   

 

 

  
      23,941,762  
Hawaii — 0.3%            

State of Hawaii Airports System Revenue, ARB, Series A, AMT, 5.00%, 07/01/45

     1,000       1,036,012  
Security  

Par

(000)

     Value  
Hawaii (continued)  

State of Hawaii Airports System Revenue, ARB COP

    

AMT, 5.25%, 08/01/25

   $ 250     $ 258,560  

AMT, 5.25%, 08/01/26

     810       836,785  
   

 

 

  
      2,131,357  
Idaho — 1.8%            

Idaho Health Facilities Authority, RB

    

4.00%, 12/01/43

     605       608,582  

Series 2017, 5.00%, 12/01/46

     805       857,943  

Idaho Health Facilities Authority, Refunding RB, 3.00%, 03/01/51

     2,845       2,289,215  

Idaho Housing & Finance Association, RB

    

5.00%, 08/15/41

     1,725       1,998,366  

5.00%, 08/15/42

     685       793,132  

5.00%, 08/15/47

     1,760       2,021,701  

Idaho Housing & Finance Association, Refunding RB

    

(GTD), 4.00%, 05/01/42

     1,400       1,363,907  

(GTD), 4.00%, 05/01/52

     1,095       1,039,325  
   

 

 

  
        10,972,171  
Illinois — 10.3%            

Chicago Board of Education, GO

    

Series A, 5.00%, 12/01/37

     405       421,171  

Series A, 5.00%, 12/01/38

     200       207,531  

Series A, 5.00%, 12/01/39

     410       424,600  

Series A, 5.00%, 12/01/47

     210       214,057  

Series C, 5.25%, 12/01/35

     2,790       2,851,416  

Series D, 5.00%, 12/01/46

       3,605       3,669,322  

Series H, 5.00%, 12/01/36

     495       510,637  

Series H, 5.00%, 12/01/46

     215       218,617  

Chicago Board of Education, Refunding GO

    

Series C, 5.00%, 12/01/25

     1,215       1,278,756  

Series D, 5.00%, 12/01/27

     1,600       1,700,034  

Series D, 5.00%, 12/01/31

     150       156,338  

Series F, 5.00%, 12/01/23

     290       298,062  

Series G, 5.00%, 12/01/34

     710       735,280  

Series G, 5.00%, 12/01/44

     150       154,496  

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

     1,010       1,029,624  

Chicago O’Hare International Airport, Refunding ARB, Series A, Senior Lien, 4.00%, 01/01/36

     1,035       1,053,190  

Chicago Transit Authority Sales Tax Receipts Fund, Refunding RB, Series A, 2nd Lien, 4.00%, 12/01/49

     2,210       2,214,427  

City of Chicago Illinois Wastewater Transmission Revenue, RB, 2nd Lien, 5.00%, 01/01/42

     1,375       1,377,527  

City of Chicago Illinois Waterworks Revenue, Refunding RB, 2nd Lien, 5.00%, 11/01/42

     500       502,574  

Cook County Community College District No. 508, GO

    

5.50%, 12/01/38

     2,670       2,747,585  

5.25%, 12/01/43

     3,850       3,930,969  

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

     480       499,239  

Illinois Finance Authority, Refunding RB

    

Series A, 4.00%, 05/15/50

     600       580,903  

Series C, 5.00%, 02/15/41

     1,600       1,699,582  

Illinois State Toll Highway Authority, RB

    

Series A, 5.00%, 01/01/45

     1,420       1,587,037  

Series A, 4.00%, 01/01/46

     2,110       2,123,654  

Series C, 5.00%, 01/01/37

     3,005       3,172,156  
 

 

 

3  

    

Schedule of Investments (unaudited) (continued)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Illinois (continued)            

Metropolitan Pier & Exposition Authority, RB

    

Series A, 5.50%, 06/15/53

   $ 280     $ 289,589  

Series A, 5.00%, 06/15/57

       2,745       2,912,991  

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

     2,165       480,663  

Metropolitan Pier & Exposition Authority, Refunding RB

    

4.00%, 06/15/50

     635       614,470  

Series B, (AGM), 0.00%, 06/15/44(d)

     2,980       1,117,461  

Metropolitan Pier & Exposition Authority, Refunding RB, CAB(d)

    

Series B, (AGM), 0.00%, 06/15/43

     5,700       2,244,358  

Series B, 0.00%, 12/15/54

     3,020       663,376  

State of Illinois, GO

    

5.25%, 02/01/31

     730       758,261  

5.25%, 02/01/32

     2,500       2,595,553  

5.50%, 07/01/33

     3,000       3,084,885  

5.00%, 03/01/37

     455       455,672  

5.50%, 07/01/38

     620       635,243  

5.00%, 02/01/39

     1,640       1,664,656  

Series A, 5.00%, 04/01/35

     3,500       3,542,336  

Series A, 5.00%, 04/01/38

     5,020       5,058,845  

Series D, 5.00%, 11/01/28

     505       545,362  

State of Illinois, GO, BAB, Series C, 4.00%, 11/01/43

     440       406,358  

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

     180       196,208  

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

     1,360       1,398,396  
   

 

 

  
        64,023,467  
Indiana — 1.9%            

City of Valparaiso Indiana, RB

    

AMT, 6.75%, 01/01/34

     1,090       1,160,962  

AMT, 7.00%, 01/01/44

     4,625       4,931,180  

Indiana Finance Authority, RB(c)

    

Series A, AMT, 5.00%, 07/01/23

     3,075       3,175,885  

Series A, AMT, 5.25%, 07/01/23

     560       579,235  

Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 01/15/40

     1,780       1,809,311  
   

 

 

  
      11,656,573  
Iowa — 0.3%            

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

     2,425       2,080,509  
   

 

 

  
Kansas — 0.1%            

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

     475       458,901  
   

 

 

  
Kentucky — 1.3%            

Kentucky Economic Development Finance Authority, RB, Series A, Catholic Health Services, 5.25%, 01/01/23(c)

     1,385       1,415,032  

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

     5,000       4,735,255  

Kentucky Public Transportation Infrastructure Authority, RB, CAB, Series C, Convertible, 4.53%, 07/01/43(g)

    1,655       1,809,147  
   

 

 

  
      7,959,434  
Security  

Par

(000)

     Value  
Louisiana — 0.6%            

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

   $ 1,000     $ 1,049,765  

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.25%, 05/15/33

     1,450       1,462,064  

Series A, 5.25%, 05/15/35

     955       975,996  
   

 

 

  
      3,487,825  
Maryland — 0.4%            

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

     135       139,852  

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

       1,550       1,640,786  

Maryland Health & Higher Educational Facilities Authority, RB, Series 2017, 5.00%, 12/01/46

     455       487,276  
   

 

 

  
      2,267,914  
Massachusetts — 2.3%            

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

     1,975       2,092,596  

Massachusetts Development Finance Agency, Refunding RB

    

5.00%, 01/01/41

     525       547,055  

5.00%, 01/01/45

     375       388,482  

Series A, 4.00%, 07/01/44

     685       674,246  

Massachusetts Housing Finance Agency, RB, M/F Housing, 3.10%, 06/01/60

     2,645       2,144,517  

Massachusetts Port Authority, ARB

    

Series E, AMT, 5.00%, 07/01/46

     6,320       6,891,549  

Series E, AMT, 5.00%, 07/01/51

     1,220       1,323,134  
   

 

 

  
        14,061,579  
Michigan — 1.0%            

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

     5       5,016  

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

     1,110       1,193,693  

Michigan Finance Authority, Refunding RB, Series A, 4.00%, 12/01/49

     895       893,021  

Michigan State Housing Development Authority, RB, M/F Housing, Series A, 2.70%, 10/01/56

     1,890       1,369,983  

Michigan State University, Refunding RB, Series B, 5.00%, 02/15/48

     1,100       1,204,873  

Michigan Strategic Fund, RB, AMT, 5.00%, 06/30/48

     1,680       1,726,689  
   

 

 

  
      6,393,275  
Minnesota — 2.4%            

City of Minneapolis Minnesota, Refunding RB, Series A, 5.00%, 11/15/49

     1,790       1,891,969  

Duluth Economic Development Authority, Refunding RB

    

Series A, 4.25%, 02/15/48

     7,760       7,820,171  

Series A, 5.25%, 02/15/53

     2,230       2,371,730  

Series A, 5.25%, 02/15/58

     1,435       1,526,607  

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

     1,495       1,615,928  
   

 

 

  
      15,226,405  
 

 

 

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)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Mississippi — 0.2%            

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

   $ 1,190     $ 1,260,470  

Mississippi State University Educational Building Corp., Refunding RB, 5.25%, 08/01/23(c)

     260       270,861  
   

 

 

  
      1,531,331  
Missouri — 2.2%            

370/Missouri Bottom Road/Taussig Road Transportation Development District, RB, 7.20%, 05/01/33(e)(f)

     6,000       1,800,000  

Health & Educational Facilities Authority of the State of Missouri, RB, 4.00%, 06/01/53

     3,180       3,173,516  

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

    

5.50%, 05/01/43

     345       355,366  

Series A, 4.00%, 07/01/40

     1,830       1,854,008  

Series A, 4.00%, 07/01/46

     655       640,460  

Kansas City Industrial Development Authority, ARB

    

AMT, (AGM), 4.00%, 03/01/57

     975       948,243  

RB, AMT, 5.00%, 03/01/54

     3,435       3,638,088  

Missouri Housing Development Commission, RB, S/F Housing

    

(FHLMC, FNMA, GNMA), 2.35%, 11/01/46

     430       339,188  

(FHLMC, FNMA, GNMA), 2.40%, 11/01/51

     445       330,118  

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

     500       497,369  
   

 

 

  
        13,576,356  
Montana — 0.5%            

City of Kalispell Montana, Refunding RB, Series A, 5.25%, 05/15/37

     125       130,799  

Montana State Board of Regents, Refunding RB

    

Series G, 3.00%, 11/15/43

     1,020       913,196  

Series G, 4.00%, 11/15/46

     2,250       2,339,595  
   

 

 

  
      3,383,590  
Nebraska — 0.5%            

Central Plains Energy Project, RB

    

5.25%, 09/01/37

     1,155       1,165,110  

5.00%, 09/01/42

       2,025       2,039,361  
   

 

 

  
      3,204,471  
New Hampshire(b) — 0.6%            

New Hampshire Business Finance Authority, Refunding RB

    

Series A, 3.63%, 07/01/43(a)

     170       149,411  

Series B, 4.63%, 11/01/42

     2,350       2,318,562  

Series B, AMT, 3.75%, 07/01/45(a)

     270       238,067  

Series C, AMT, 4.88%, 11/01/42

     1,260       1,261,872  
   

 

 

  
      3,967,912  
New Jersey — 13.8%            

Casino Reinvestment Development Authority, Inc., Refunding RB

    

5.25%, 11/01/39

     2,390       2,495,996  

5.25%, 11/01/44

     2,250       2,339,536  

Hudson County Improvement Authority, RB, 4.00%, 10/01/46

     1,830       1,814,396  

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

     645       12,900  

New Jersey Economic Development Authority, RB

    

4.00%, 11/01/38

     560       558,779  

4.00%, 11/01/39

     450       446,505  
Security  

Par

(000)

     Value  
New Jersey (continued)            

New Jersey Economic Development Authority, RB (continued)

    

5.00%, 06/15/49

   $ 2,535     $ 2,685,632  

Series EEE, 5.00%, 06/15/43

     3,710       3,955,743  

Series EEE, 5.00%, 06/15/48

     4,020       4,239,311  

AMT, 5.13%, 09/15/23

     1,705       1,725,944  

AMT, (AGM), 5.00%, 01/01/31

     530       551,481  

AMT, 5.38%, 01/01/43

     1,500       1,533,913  

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

     1,570       1,642,908  

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

     775       889,159  

New Jersey Economic Development Authority, Refunding SAB

    

6.50%, 04/01/28

     7,187       7,595,102  

5.75%, 04/01/31

     705       704,283  

New Jersey Health Care Facilities Financing Authority, RB, 3.00%, 07/01/51

     4,980       4,065,632  

New Jersey Higher Education Student Assistance Authority, Refunding RB

    

Sub-Series C, AMT, 3.63%, 12/01/49

     665       540,218  

Series C, AMT, Subordinate, 4.25%, 12/01/50

     1,810       1,726,747  

New Jersey Housing & Mortgage Finance Agency, Refunding RB, M/F Housing, Series A, (HUD SECT 8), 2.30%, 11/01/40

     1,150       926,680  

New Jersey Transportation Trust Fund Authority, RB

    

Series A, 5.00%, 06/15/28

     500       541,724  

Series AA, 5.50%, 06/15/39

     3,845       3,922,396  

Series AA, 5.00%, 06/15/44

       2,085       2,115,619  

Series AA, 4.00%, 06/15/45

     855       856,737  

Series AA, 5.00%, 06/15/45

     415       427,438  

Series BB, 4.00%, 06/15/50

     1,645       1,565,038  

Series BB, 5.00%, 06/15/50

     5,395       5,729,846  

Series S, 5.25%, 06/15/43

     1,145       1,229,316  

Series S, 5.00%, 06/15/46

     2,930       3,107,362  

New Jersey Turnpike Authority, RB

    

Series A, 4.00%, 01/01/42

     800       823,985  

Series A, 4.00%, 01/01/48

     1,190       1,216,574  

Series E, 5.00%, 01/01/45

     2,810       2,942,042  

Rutgers The State University of New Jersey, Refunding RB, Series L, 5.00%, 05/01/23(c)

     735       758,122  

State of New Jersey, GO, Series A, 4.00%, 06/01/31

     620       670,755  

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.00%, 06/01/35

     1,605       1,693,806  

Series A, 5.25%, 06/01/46

     4,415       4,745,030  

Sub-Series B, 5.00%, 06/01/46

     12,780       13,072,023  
   

 

 

  
        85,868,678  
New Mexico — 0.0%            

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

     100       93,120  
   

 

 

  
New York — 17.7%            

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

     500       524,529  

City of New York, GO

    

Series A -1, 4.00%, 08/01/50

     4,730       4,841,330  

Series C, 5.00%, 08/01/42

     1,870       2,119,206  

Series D-1, 4.00%, 03/01/44

     515       530,522  

Metropolitan Transportation Authority, RB

    

Series B, 5.25%, 11/15/38

     3,305       3,408,549  

Series B, 5.25%, 11/15/39

     910       938,493  
 

 

 

5  

    

Schedule of Investments (unaudited) (continued)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
New York (continued)            

Metropolitan Transportation Authority, RB (continued) Series C, 4.00%, 11/15/33

   $ 100     $ 100,222  

Metropolitan Transportation Authority, Refunding RB

    

Series B, 5.00%, 11/15/22

     400       405,535  

Series C-1, 5.00%, 11/15/25

     100       107,018  

Series C-1, 5.00%, 11/15/26

     65       70,524  

Series C-1, 4.75%, 11/15/45

       6,795       7,087,518  

Series C-1, 5.00%, 11/15/50

     575       608,593  

Series C-1, 5.25%, 11/15/55

     845       907,368  

Monroe County Industrial Development Corp., Refunding RB

    

4.00%, 12/01/46

     1,090       1,009,478  

Series A, 4.00%, 07/01/50

     1,175       1,175,332  

New York City Housing Development Corp., RB, M/F Housing

    

Series A, 3.00%, 11/01/55

     3,375       2,729,875  

Series C-1A, 4.20%, 11/01/44

     3,000       3,004,833  

Series H, 2.55%, 11/01/45

     925       740,452  

New York City Housing Development Corp., Refunding RB, M/F Housing, Series D-1-B, (FHA), 2.50%, 11/01/55

     1,500       1,076,574  

New York City Industrial Development Agency, Refunding RB

    

(AGM), 3.00%, 03/01/49

     2,060       1,633,141  

3.00%, 03/01/49

     1,645       1,276,301  

Series A, Class A, (AGM), 3.00%, 01/01/37

     235       209,069  

Series A, Class A, (AGM), 3.00%, 01/01/39

     235       206,417  

Series A, Class A, (AGM), 3.00%, 01/01/40

     165       143,806  

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

    

3.00%, 05/01/46

     3,020       2,595,053  

Sub-Series B-1, 4.00%, 11/01/45

     5,000       5,083,080  

Sub-Series E-1, 5.00%, 02/01/42

     925       926,955  

Series C, Subordinate, 4.00%, 05/01/45

     1,200       1,233,910  

Series F-1, Subordinate, 4.00%, 02/01/51

     3,095       3,176,101  

Series F-1, Subordinate, 5.00%, 02/01/51

     4,185       4,739,667  

Sub-Series C-1, Subordinate, 4.00%, 05/01/40

     480       502,046  

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

     3,300       3,316,500  

New York Liberty Development Corp., Refunding RB

    

Series 1, Class 1, 5.00%, 11/15/44(b)

     6,110       6,179,043  

Series 2, Class 2, 5.15%, 11/15/34(b)

     470       479,615  

Series 2, Class 2, 5.38%, 11/15/40(b)

     1,175       1,205,165  

Series A, 2.88%, 11/15/46

     5,210       4,045,247  

Series-A, 3.00%, 11/15/51

     1,190       974,854  

New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/60

     1,225       1,233,895  

New York State Dormitory Authority, Refunding RB

    

Series A, 5.00%, 03/15/45

     1,530       1,686,432  

Series A, 4.00%, 03/15/46

     2,100       2,164,936  

Series A, 4.00%, 03/15/47

     6,650       6,863,299  

New York State Environmental Facilities Corp., RB, Series B, Subordinate, 5.00%, 06/15/48

     1,945       2,157,186  

New York State Housing Finance Agency, RB, M/F Housing, Series G, (SONYMA), 2.60%, 11/01/46

     2,205       1,721,479  

New York State Thruway Authority, Refunding RB, Series B, Subordinate, 4.00%, 01/01/45

     3,110       3,163,710  

New York State Urban Development Corp., RB, Series A, 3.00%, 03/15/50

     1,420       1,258,221  
Security   Par
(000)		     Value  
New York (continued)            

New York Transportation Development Corp., ARB

    

AMT, 5.00%, 12/01/39

   $ 2,250     $ 2,448,234  

Series A, AMT, 5.25%, 01/01/50

       1,600       1,631,568  

New York Transportation Development Corp., RB

    

AMT, 5.00%, 10/01/35

     640       660,951  

AMT, 5.00%, 10/01/40

     1,825       1,893,012  

AMT, 4.00%, 04/30/53

     425       382,588  

Port Authority of New York & New Jersey, ARB

    

4.00%, 09/01/45

     2,500       2,532,835  

4.00%, 09/01/49

     1,500       1,518,927  

Series 221, AMT, 4.00%, 07/15/55

     1,410       1,410,592  

Port Authority of New York & New Jersey, Refunding ARB, Series 223, AMT, 4.00%, 07/15/46

     1,500       1,489,314  

State of New York Mortgage Agency, RB, S/F Housing, Series 239, (SONYMA), 2.60%, 10/01/44

     2,145       1,712,218  

Triborough Bridge & Tunnel Authority, RB

    

Series A, 5.00%, 11/15/49

     945       1,056,896  

Series A, 4.00%, 11/15/54

     1,085       1,099,678  

Series A, 5.00%, 11/15/56

     1,640       1,819,854  

Westchester County Healthcare Corp., RB, Series A, Senior Lien, 5.00%, 11/01/44

     1,000       1,031,565  

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

     210       213,584  
   

 

 

  
      110,462,895  
North Carolina — 0.7%            

County of Union North Carolina Enterprise System Revenue, RB, 3.00%, 06/01/51

     2,255       1,886,966  

North Carolina Medical Care Commission, RB

    

Series A, 4.00%, 10/01/40

     125       116,588  

Series A, 5.00%, 10/01/40

     190       200,839  

Series A, 4.00%, 10/01/45

     565       518,546  

Series A, 5.00%, 10/01/45

     340       358,217  

Series A, 4.00%, 10/01/50

     145       128,430  

Series A, 5.00%, 10/01/50

     380       398,498  

University of North Carolina at Chapel Hill, RB, 5.00%, 02/01/49

     590       697,947  
   

 

 

  
      4,306,031  
North Dakota — 0.2%            

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

     1,035       1,112,816  
   

 

 

  
Ohio — 3.3%            

Buckeye Tobacco Settlement Financing Authority, Refunding RB

    

Series A-2, Class 1, 4.00%, 06/01/37

     315       315,154  

Series A-2, Class 1, 4.00%, 06/01/38

     315       314,348  

Series A-2, Class 1, 4.00%, 06/01/39

     315       313,409  

Series A-2, Class 1, 4.00%, 06/01/48

     825       797,694  

Series B-2, Class 2, 5.00%, 06/01/55

     8,165       8,288,618  

County of Allen Ohio Hospital Facilities Revenue, Refunding RB, Series A, 4.00%, 11/01/44

     450       451,275  

County of Franklin Ohio, RB

    

Series 2017, 5.00%, 12/01/46

     435       465,297  

Series A, 6.13%, 07/01/22(c)

     920       923,729  

Series A, 4.00%, 12/01/44

     555       556,209  

County of Hamilton Ohio, Refunding RB

    

4.00%, 08/15/50

     2,415       2,418,753  

Series A, 3.75%, 08/15/50

     1,155       1,110,722  

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

     960       972,064  
 

 

 

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)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Ohio (continued)            

Ohio Turnpike & Infrastructure Commission, RB, Series A-1, Junior Lien, 5.25%, 02/15/31

   $ 2,885     $ 2,956,179  

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

     870       885,605  
   

 

 

  
        20,769,056  
Oklahoma — 1.4%            

Norman Regional Hospital Authority, Refunding RB, 5.00%, 09/01/37

     400       420,118  

Oklahoma Development Finance Authority, RB,

    

Series B, 5.25%, 08/15/48

       2,225       2,257,056  

Oklahoma Turnpike Authority, RB

    

Series A, 4.00%, 01/01/48

     2,230       2,250,146  

Series C, 4.00%, 01/01/42

     2,120       2,155,879  

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

     1,435       1,498,737  
   

 

 

  
      8,581,936  
Oregon — 0.7%            

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

     1,445       743,963  

Multnomah & Clackamas Counties School District No.10JT Gresham-Barlow, GO, CAB, Series A, (GTD), 0.00%, 06/15/38(d)

     470       251,596  

Oregon State Facilities Authority, Refunding RB, Series A, 4.13%, 06/01/52

     960       960,658  

Port of Portland Oregon Airport Revenue, Refunding ARB, Series 27-A, AMT, 5.00%, 07/01/45

     1,980       2,158,837  
   

 

 

  
      4,115,054  
Pennsylvania — 3.8%            

Allentown Neighborhood Improvement Zone Development Authority, RB(b)

    

5.00%, 05/01/42

     420       436,020  

Subordinate, 5.00%, 05/01/28

     70       77,592  

Subordinate, 5.13%, 05/01/32

     100       109,808  

Subordinate, 5.38%, 05/01/42

     145       158,526  

Bristol Township School District, GO, (SAW), 5.25%, 06/01/23(c)

     1,530       1,583,610  

Hospitals & Higher Education Facilities Authority of Philadelphia, RB, Series A, 5.63%, 07/01/42

     885       887,693  

Montgomery County Higher Education and Health Authority, Refunding RB

    

4.00%, 09/01/49

     2,765       2,710,101  

4.00%, 09/01/51

     2,260       2,194,340  

Class B, 4.00%, 05/01/56

     1,505       1,478,860  

Series A, 5.00%, 09/01/43

     1,350       1,460,646  

Series A, 4.00%, 09/01/49

     615       618,389  

Pennsylvania Economic Development Financing Authority, RB, AMT, 5.00%, 06/30/42

     3,680       3,838,737  

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

     480       490,522  

Pennsylvania Higher Educational Facilities Authority, RB

    

4.00%, 08/15/44

     1,150       1,160,956  

4.00%, 08/15/49

     2,545       2,552,625  

Pennsylvania Turnpike Commission, RB

    

Series A, 5.00%, 12/01/44

     1,535       1,589,325  
Security   Par
(000)		     Value  
Pennsylvania (continued)            

Pennsylvania Turnpike Commission, RB (continued)

    

Series A, Subordinate, 4.00%, 12/01/45

   $ 435     $ 428,314  

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

     2,065       2,031,663  
   

 

 

  
        23,807,727  
Puerto Rico — 6.3%            

Children’s Trust Fund, Refunding RB

    

5.50%, 05/15/39

     715       726,255  

5.63%, 05/15/43

       1,755       1,786,227  

Puerto Rico Commonwealth Aqueduct & Sewer Authority, Refunding RB

    

Series A, Senior Lien, 5.00%, 07/01/33

     4,655       4,664,920  

Series A, Senior Lien, 5.13%, 07/01/37

     1,335       1,337,738  

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

    

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

     5,224       5,245,680  

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

     15,367       15,623,936  

Series A-2, Restructured, 4.33%, 07/01/40

     2,333       2,325,779  

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

     3,256       3,275,308  

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

     164       165,054  

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

     159       159,913  

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

     12,023       3,605,698  
   

 

 

  
      38,916,508  
Rhode Island — 2.2%            

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

     260       231,751  

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.00%, 06/01/35

     1,690       1,748,239  

Series A, 5.00%, 06/01/40

     950       987,037  

Series B, 4.50%, 06/01/45

     5,685       5,836,158  

Series B, 5.00%, 06/01/50

     4,880       5,095,213  
   

 

 

  
      13,898,398  
South Carolina — 5.6%            

Charleston County Airport District, ARB

    

Series A, AMT, 5.50%, 07/01/26

     1,810       1,871,862  

Series A, AMT, 6.00%, 07/01/38

     1,155       1,195,879  

Series A, AMT, 5.50%, 07/01/41

     1,000       1,029,405  

County of Charleston South Carolina, ARB, 5.25%, 12/01/23(c)

     3,295       3,462,119  

South Carolina Jobs-Economic Development Authority, RB(b)

    

5.00%, 01/01/40

     385       371,452  

5.00%, 01/01/55

     335       307,713  

South Carolina Jobs-Economic Development Authority, Refunding RB

    

5.00%, 02/01/38

     2,710       2,819,674  

Series A, 5.00%, 05/01/43

     2,430       2,645,274  

Series A, 5.00%, 05/01/48

     4,620       4,998,808  

South Carolina Ports Authority, ARB, AMT, 5.25%, 07/01/25(c)

     1,085       1,181,030  

South Carolina Public Service Authority, RB

    

Series A, 5.50%, 12/01/54

     4,810       4,970,197  

Series E, 5.50%, 12/01/53

     2,040       2,098,774  

South Carolina Public Service Authority, Refunding RB

    

Series A, 5.00%, 12/01/50

     1,755       1,819,881  

Series A, 5.00%, 12/01/55

     465       482,129  
 

 

 

7  

    

Schedule of Investments (unaudited) (continued)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
South Carolina (continued)            

South Carolina Public Service Authority, Refunding RB (continued)

    

Series C, 5.00%, 12/01/46

   $ 1,795     $ 1,850,699  

Series E, 5.25%, 12/01/55

       3,750       3,941,527  
   

 

 

  
      35,046,423  
South Dakota — 0.2%            

South Dakota Health & Educational Facilities Authority, Refunding RB, Series A, 4.00%, 09/01/50

     1,295       1,299,412  
   

 

 

  
Tennessee — 2.4%            

Chattanooga Health Educational & Housing Facility Board, RB, Series A, Catholic Health Services, 5.25%, 01/01/23(c)

     1,910       1,952,803  

Chattanooga Health Educational & Housing Facility Board, Refunding RB, Series A, 4.00%, 08/01/44

     170       166,998  

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, Series A, 5.00%, 07/01/40

     740       781,834  

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Refunding RB

    

Series A, 4.00%, 10/01/49

     445       430,631  

Series A, 5.25%, 10/01/58

       3,840       4,191,959  

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

     6,475       7,127,952  
   

 

 

  
        14,652,177  
Texas — 8.3%            

Brazos Higher Education Authority, Inc., RB, Series 1B, AMT, Subordinate, 3.00%, 04/01/40

     380       298,406  

Central Texas Regional Mobility Authority, RB, Series E, Senior Lien, 4.00%, 01/01/50

     2,390       2,406,864  

Central Texas Regional Mobility Authority, Refunding RB, Sub Lien, 5.00%, 01/01/23(c)

     505       515,920  

City of Austin Texas Airport System Revenue, ARB, AMT, 5.00%, 11/15/39

     665       682,382  

City of Beaumont Texas, GO, 5.25%, 03/01/23(c)

     2,070       2,130,417  

City of Houston Texas Airport System Revenue, RB, Series A, AMT, 6.63%, 07/15/38

     150       150,116  

City of Houston Texas Airport System Revenue, Refunding ARB, AMT, 5.00%, 07/15/27

     100       103,095  

City of Houston Texas Airport System Revenue, Refunding RB

    

AMT, 5.00%, 07/01/29

     595       589,077  

Series A, AMT, 5.00%, 07/01/27

     100       103,038  

City of San Antonio Texas Electric & Gas Systems Revenue, Refunding RB, Series A, 5.00%, 02/01/48

     1,260       1,405,969  

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

     230       239,576  

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

     2,500       2,607,575  

Harris County Cultural Education Facilities Finance Corp., RB, Series B, 7.00%, 01/01/23(c)

     630       651,312  

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

    

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

     2,300       1,078,686  

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

     13,075       5,867,210  

Harris County-Houston Sports Authority, Refunding RB, CAB, Series A, Senior Lien, (AGM NPFGC), 0.00%, 11/15/38(d)

     4,750       2,114,087  

Lower Colorado River Authority, Refunding RB, 5.50%, 05/15/33

     730       752,996  
Security   Par
(000)		     Value  
Texas (continued)            

Midland County Fresh Water Supply District No.1, RB, CAB, Series A, 0.00%, 09/15/37(d)

   $  10,540     $ 5,373,144  

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

     180       182,625  

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

     640       309,990  

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

     3,185       3,259,666  

Red River Education Finance Corp., RB, 5.25%, 03/15/23(c)

     940       968,131  

San Antonio Water System, Refunding RB, Series A, Junior Lien, 5.00%, 05/15/48

     1,370       1,509,050  

Tarrant County Cultural Education Facilities Finance Corp., RB

    

4.00%, 10/01/42

     510       513,633  

Series B, 5.00%, 07/01/48

     4,955       5,290,800  

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

     95       94,914  

Texas Private Activity Bond Surface Transportation Corp., RB, AMT, Senior Lien, 5.00%, 12/31/55

     975       1,017,172  

Texas Transportation Commission, RB, Series A, 5.00%, 08/01/57

     1,715       1,823,482  

Texas Transportation Commission, RB, CAB(d)

    

0.00%, 08/01/40

     500       218,853  

0.00%, 08/01/41

     2,000       828,636  

0.00%, 08/01/42

     2,345       921,064  

Texas Water Development Board, RB, Series A, 4.00%, 10/15/49

     7,600       7,867,619  
   

 

 

  
        51,875,505  
Utah — 0.6%            

County of Utah UT, RB

    

Series A, 4.00%, 05/15/43

     240       241,510  

Series A, 3.00%, 05/15/50

     1,085       928,371  

Salt Lake City Corp. Airport Revenue, ARB

    

Series A, AMT, 5.00%, 07/01/47

     995       1,052,155  

Series A, AMT, 5.00%, 07/01/48

     955       1,018,485  

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

     100       100,382  

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

     135       138,423  
   

 

 

  
      3,479,326  
Vermont — 0.7%            

Vermont Educational & Health Buildings Financing Agency, Refunding RB

    

5.00%, 11/01/49

     1,915       2,118,988  

4.00%, 11/01/50

     1,725       1,743,150  

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

     285       265,654  
   

 

 

  
      4,127,792  
Virginia — 1.6%            

Ballston Quarter Community Development Authority, TA

    

Series A, 5.00%, 03/01/26

     370       356,124  

Series A, 5.13%, 03/01/31

     790       685,887  

Front Royal & Warren County Industrial Development Authority, RB, 4.00%, 01/01/50

     865       860,267  

Henrico County Economic Development Authority, Refunding RB, 4.00%, 10/01/45

     305       283,859  

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

     1,010       1,009,960  
 

 

 

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)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Virginia (continued)            

Virginia Housing Development Authority, RB, M/F Housing, Series 1, (FHLMC, FNMA, GNMA), 2.55%, 11/01/50

   $ 1,520     $ 1,147,963  

Virginia Small Business Financing Authority, Refunding RB

    

AMT, Senior Lien, 5.25%, 01/01/32

       2,005       2,011,239  

AMT, Senior Lien, 6.00%, 01/01/37

     3,440       3,452,439  
   

 

 

  
      9,807,738  
Washington — 2.1%            

Grant County Public Utility District No.2 Priest Rapids Hydroelectric Project, Refunding RB, Series A, 5.00%, 01/01/26(c)

     2,335       2,572,383  

Port of Seattle Washington, ARB

    

Series A, AMT, 5.00%, 05/01/43

     1,615       1,681,070  

Series C, AMT, 5.00%, 04/01/40

     1,050       1,075,547  

Washington Health Care Facilities Authority, RB, Series A, Catholic Health Services, 5.75%, 01/01/23(c)

     3,160       3,241,800  

Washington Health Care Facilities Authority, Refunding RB, Series A, 4.00%, 08/01/44

     375       368,580  

Washington State Housing Finance Commission, RB, M/F Housing, Series A-1, 3.50%, 12/20/35

     1,952       1,815,230  

Washington State Housing Finance Commission, Refunding RB(b)

    

5.00%, 01/01/43

     1,000       1,066,550  

5.00%, 01/01/48

     1,405       1,492,543  
   

 

 

  
      13,313,703  
West Virginia — 0.1%            

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

     570       579,389  
   

 

 

  
Wisconsin — 1.4%            

Public Finance Authority, RB

    

Series A, 5.00%, 11/15/41

     205       223,817  

Series A, 5.00%, 07/01/55(b)

     120       121,521  

Series A-1, 4.50%, 01/01/35(b)

     210       194,111  

AMT, 4.00%, 09/30/51

     1,835       1,741,167  

AMT, 4.00%, 03/31/56

     1,925       1,726,338  

Public Finance Authority, Refunding RB(b)

    

5.25%, 05/15/52

     735       681,173  

5.00%, 09/01/54

     115       112,518  

Wisconsin Health & Educational Facilities Authority, RB, 4.00%, 08/15/46

     3,280       3,275,031  

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

     660       684,080  
   

 

 

  
      8,759,756  
   

 

 

  

Total Municipal Bonds — 134.5%
(Cost: $850,379,665)

         837,843,705  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(i)

 

California — 3.2%            

Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/42(j)

     3,358       3,408,594  

City of Los Angeles Department of Airports, ARB, Series B, AMT, 5.00%, 05/15/46

     4,050       4,239,220  
Security  

Par

(000)

     Value  
California (continued)            

Fremont Union High School District, Refunding GO, Series A, 4.00%, 08/01/46

   $   1,839     $ 1,881,841  

Sacramento Area Flood Control Agency, Refunding SAB

    

5.00%, 10/01/47

     3,344       3,614,527  

Series A, 5.00%, 10/01/43

     4,725       5,111,214  

San Diego County Regional Airport Authority, ARB, Series B, AMT, Subordinate, 4.00%, 07/01/56(j)

     1,441       1,421,683  
   

 

 

  
        19,677,079  
Colorado — 1.2%            

City & County of Denver Colorado Airport System Revenue, Refunding ARB, Series A, AMT, 5.25%, 12/01/48(j)

     2,463       2,675,060  

Colorado Health Facilities Authority, Refunding RB, Series A, 4.00%, 08/01/49(j)

     3,920       3,819,323  

County of Adams Colorado, Refunding COP, 4.00%, 12/01/45

     1,180       1,192,830  
   

 

 

  
      7,687,213  
Connecticut — 0.2%            

Connecticut State Health & Educational Facilities Authority, Refunding RB, 5.00%, 12/01/45

     1,216       1,282,551  
   

 

 

  
District of Columbia — 1.5%            

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

     2,361       2,395,695  

Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB, Series B, Subordinate, (AGM), 4.00%, 10/01/53

     6,986       6,934,789  
   

 

 

  
      9,330,484  
Florida — 0.9%            

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

     5,672       5,490,856  
   

 

 

  
Georgia — 1.0%            

Dalton Whitfield County Joint Development Authority, RB, 4.00%, 08/15/48

     4,396       4,390,322  

Georgia Housing & Finance Authority, Refunding RB, Series A, 3.60%, 12/01/44

     1,582       1,580,003  
   

 

 

  
      5,970,325  
Idaho — 0.8%            

Idaho State Building Authority, RB, Series A, 4.00%, 09/01/48

     4,800       4,887,288  
   

 

 

  
Illinois — 1.0%            

Illinois Finance Authority, Refunding RB, Series C, 4.00%, 02/15/41

     1,544       1,560,884  

Illinois State Toll Highway Authority, RB, Series C, 5.00%, 01/01/38

     4,244       4,471,291  
   

 

 

  
      6,032,175  
Iowa — 0.4%            

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

     2,730       2,711,385  
   

 

 

  
Massachusetts — 1.4%            

Commonwealth of Massachusetts Transportation Fund Revenue, RB, Series A, 4.00%, 06/01/45

     2,238       2,262,845  
 

 

 

9  

    

Schedule of Investments (unaudited) (continued)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  

 

  
Massachusetts (continued)            

Massachusetts Development Finance Agency, Refunding RB, 5.00%, 07/01/47

   $ 4,979     $ 5,262,456  

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

     1,273       1,287,646  
   

 

 

  
      8,812,947  
Michigan — 1.5%            

Michigan Finance Authority, RB, 4.00%, 02/15/47

     4,380       4,381,986  

Michigan State Housing Development Authority, RB, M/F Housing, Series A, 4.15%, 10/01/53

     5,000       5,020,370  
   

 

 

  
      9,402,356  
New York — 5.8%            

City of New York, GO, Sub-Series-D1, Series D, 5.00%, 12/01/43(j)

     2,380       2,634,780  

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

     5,159       5,231,935  

New York City Water & Sewer System, Refunding RB, Series FF, 5.00%, 06/15/45

     2,499       2,502,826  

New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/60

     1,459       1,469,220  

New York State Dormitory Authority, Refunding RB

    

Series A, 4.00%, 03/15/49

     3,300       3,406,057  

Series D, 4.00%, 02/15/47

     6,576       6,740,886  

New York State Thruway Authority, Refunding RB, Series B, Subordinate, 4.00%, 01/01/50

     3,164       3,220,315  

New York State Urban Development Corp., RB, Series A, 4.00%, 03/15/46

     7,217       7,360,163  

Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55

       3,600       3,815,158  
   

 

 

  
        36,381,340  
North Carolina — 0.8%            

North Carolina Capital Facilities Finance Agency, Refunding RB, Series B, 5.00%, 10/01/55

     3,540       3,879,532  

North Carolina Housing Finance Agency, RB, S/F Housing, Series 39-B, (FHLMC, FNMA, GNMA), 4.00%, 01/01/48

     969       976,581  
   

 

 

  
      4,856,113  
Pennsylvania — 3.1%            

County of Lehigh Pennsylvania, Refunding RB, Series A, 4.00%, 07/01/49(j)

     7,498       7,471,079  

Pennsylvania Turnpike Commission, RB, Sub-Series A, 5.50%, 12/01/42

     7,078       7,628,061  

Pennsylvania Turnpike Commission, Refunding RB, Sub-Series B-2, (AGM), 5.00%, 06/01/35

     3,110       3,364,903  

Westmoreland County Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/38

     1,034       1,095,742  
   

 

 

  
      19,559,785  
Rhode Island — 0.9%            

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

     5,571       5,638,106  
   

 

 

  
Texas — 1.8%            

Board of Regents of the University of Texas System, Refunding RB, Series B, 5.00%, 08/15/43

     4,322       4,357,191  
Security  

Par

(000)

     Value  

 

  
Texas (continued)            

City of San Antonio Texas Electric & Gas Systems Revenue, RB, Junior Lien, 5.00%, 02/01/43

   $ 3,440     $ 3,525,125  

Texas Department of Housing & Community Affairs, RB, S/F Housing

    

Series A, (GNMA), 3.63%, 09/01/44

     2,009       1,928,876  

Series A, (GNMA), 3.75%, 09/01/49

     1,426       1,368,348  
   

 

 

  
      11,179,540  
Virginia — 2.5%            

Hampton Roads Transportation Accountability Commission, RB(j)

    

Series A, Senior Lien, 5.50%, 07/01/57

     4,553       5,341,005  

Series A, Senior Lien, 4.00%, 07/01/60

     5,115       5,157,923  

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

     5,312       5,134,570  
   

 

 

  
      15,633,498  
West Virginia — 0.7%            

Morgantown Utility Board, Inc., RB, Series B, 4.00%, 12/01/48(j)

     4,222       4,257,531  
   

 

 

  
Wisconsin — 1.5%            

Wisconsin Health & Educational Facilities Authority, Refunding RB, 4.00%, 12/01/46

     3,072       3,078,355  

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

    

Series A, 4.10%, 11/01/43

     2,658       2,695,880  

Series A, 4.45%, 05/01/57

     3,322       3,369,850  
   

 

 

  
      9,144,085  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 30.2%
(Cost: $191,091,863)

 

     187,934,657  
   

 

 

  

Total Long-Term Investments — 164.7%
(Cost: $1,041,471,528)

       1,025,778,362  
   

 

 

  
    Shares        

 

  

Short-Term Securities

    
Money Market Funds — 0.3%            

BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.55%(k)(l)

     2,123,446       2,123,658  
   

 

 

  

Total Short-Term Securities — 0.3%
(Cost: $2,123,446)

       2,123,658  
   

 

 

  

Total Investments — 165.0%
(Cost: $1,043,594,974)

       1,027,902,020  

Other Assets Less Liabilities — 1.8%

       11,265,809  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (18.2)%

 

     (113,426,920 ) 

VMTP Shares at Liquidation Value, Net of Deferred Offering Costs — (48.6)%

 

     (302,758,578 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 622,982,331  
   

 

 

  
 

 

 

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

   10

Schedule of Investments (unaudited) (continued)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

 

(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) 

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.

(d) 

Zero-coupon bond.

(e) 

Issuer filed for bankruptcy and/or is in default.

(f) 

Non-income producing security.

(g) 

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.

(h) 

When-issued security.

(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) 

All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire between April 1, 2025 to July 1, 2029, is $25,565,359.

(k) 

Affiliate of the Trust.

(l) 

Annualized 7-day yield as of period end.

 

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended May 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
08/31/21

     Purchases
at Cost		     Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Appreciation
(Depreciation)		     Value at
05/31/22		     Shares
Held at
05/31/22		     Income     Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, MuniCash, Institutional Class

   $  15,829,553     $ —     $  (13,704,779 )(a)    $ (1,328 )    $ 212     $  2,123,658       2,123,446     $  2,933     $ —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 

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

      352          09/21/22        $ 42,026        $ 295,742  

U.S. Long Bond

      507          09/21/22          70,647          718,370  

5-Year U.S. Treasury Note

      327          09/30/22          36,936          85,700  
                 

 

 

  
                  $ 1,099,812  
                 

 

 

  

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.

 

 

11  

    

Schedule of Investments (unaudited) (continued)

May 31, 2022

   

BlackRock Municipal Income Trust II (BLE)

 

Fair Value Hierarchy as of Period End (continued)

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

    $ —      $ 837,843,705      $ —      $ 837,843,705  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —        187,934,657        —        187,934,657  

Short-Term Securities

            

Money Market Funds

      2,123,658           —        —        2,123,658  
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 2,123,658      $ 1,025,778,362         $ —         $ 1,027,902,020  
  

 

 

     

 

 

     

 

 

     

 

 

  

Derivative Financial Instruments(a)

            

Assets

            

Interest Rate Contracts

    $ 1,099,812      $ —      $ —      $ 1,099,812  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

  (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 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

    $ —      $ (113,265,440 )     $ —      $ (113,265,440 ) 

VMTP Shares at Liquidation Value

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

 

 

     

 

 

     

 

 

     

 

 

  
   $ —      $ (415,965,440 )     $ —      $ (415,965,440 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

 

Portfolio Abbreviation
AGM    Assured Guaranty Municipal Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAB    Build America Bond
BAM    Build America Mutual Assurance Co.
BAM-TCRS   

Build America Mutual Assurance Co.- Transferable Custodial Receipts

CAB    Capital Appreciation Bonds
COP    Certificates of Participation
FHA    Federal Housing Administration
FHLMC    Federal Home Loan Mortgage Corp.
FNMA    Federal National Mortgage Association
GNMA    Government National Mortgage Association
GO    General Obligation Bonds
GTD    GTD Guaranteed
HUD SECT 8   

U.S. Department of Housing and Urban Development Section 8

M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
RB    Revenue Bond
S/F    Single-Family
SAB    Special Assessment Bonds
SAW    State Aid Withholding
Portfolio Abbreviation (continued)
SONYMA    State of New York Mortgage Agency
TA    Tax Allocation
 

 

 

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

   12