BlackRock MuniYield Pennsylvania Quality Fund

Schedule of Investments (unaudited)

October 31, 2022

BlackRock MuniYield Pennsylvania Quality Fund (MPA)

(Percentages shown are based on Net Assets)


Security	Par (000)		Value

Municipal Bonds

Guam — 0.3%

Utilities — 0.3%
Guam Government Waterworks Authority, RB, Series A, 5.00%, 01/01/50	$	460	$	433,906


Pennsylvania — 133.1%

Corporate — 3.2%
Lehigh County Industrial Development Authority, Refunding RB, Series A, 3.00%, 09/01/29		1,900		1,762,599
Pennsylvania Economic Development Financing Authority, RB
Series A, AMT, 0.58%, 08/01/37^(a)		2,000		1,878,596
Series A, AMT, 3.25%, 08/01/39^(b)		1,950		1,432,634
Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, 5.50%, 11/01/44		135		128,741


				5,202,570

County/City/Special District/School District — 27.6%
Allentown Neighborhood Improvement Zone Development Authority, Refunding RB, 5.00%, 05/01/42		1,980		1,750,381
Altoona Area School District, GO, Series A, (AGM, SAW), 5.00%, 12/01/36		1,180		1,208,140
Bethlehem Area School District, GO
Series A, (BAM, SAW), 5.00%, 08/01/34		1,610		1,652,741
Series A, (BAM, SAW), 5.00%, 08/01/35		1,210		1,238,486
Borough of West Chester Pennsylvania, Refunding GO, 3.50%, 11/15/35		1,095		998,033
Boyertown Area School District, GO
(SAW), 5.00%, 10/01/36		610		615,939
(SAW), 5.00%, 10/01/38		920		927,487
Bristol Township School District, GO
(SAW), 5.00%, 06/01/40		775		777,403
(BAM, SAW), 5.00%, 06/01/42		1,685		1,732,478
Chester County Industrial Development Authority, SAB^(b)4.25%, 03/01/35		715		630,098
4.75%, 03/01/50		1,520		1,251,761
City of Lancaster Pennsylvania, GO, (BAM), 4.00%, 11/01/42		1,705		1,469,613
City of Philadelphia Pennsylvania, Refunding GO, Series A, 5.00%, 08/01/37		1,360		1,388,276
Coatesville School District, GO, CAB^(c)
Series A, (BAM, SAW), 0.00%, 10/01/34		160		88,235
Series A, (BAM, SAW), 0.00%, 10/01/35		1,435		745,302
Series A, (BAM, SAW), 0.00%, 10/01/37		1,395		642,996
Coatesville School District, Refunding GO^(c)
Series B, (BAM, SAW), 0.00%, 10/01/33		275		160,771
Series B, (BAM, SAW), 0.00%, 10/01/34		550		303,309
Series C, (BAM, SAW), 0.00%, 10/01/33		360		210,464
Dallastown Area School District, Refunding GO, (SAW), 5.00%, 04/15/34		1,235		1,263,974
East Pennsboro Area School District, GO, (BAM, SAW), 4.00%, 10/01/44		840		745,273
Fox Chapel Area School District, GO
(SAW), 5.00%, 02/01/39		1,345		1,385,857
(SAW), 5.00%, 02/01/42		1,250		1,281,578
Governor Mifflin School District, GO, Series A, (SAW), 4.00%, 04/01/43		570		503,958


Security	Par (000)		Value

County/City/Special District/School District (continued)
Marple Newtown School District, GO, (SAW), 3.00%, 06/01/40	$	1,375	$	1,087,406
Northampton County Industrial Development Authority, TA, 7.00%, 07/01/32		130		131,261
School District of Philadelphia, GO, Series A, (SAW), 4.00%, 09/01/46		1,000		829,417
Shaler Area School District, GO, CAB, (XLCA SAW), 0.00%, 09/01/30^(c)		6,145		4,482,016
Springfield School District/Delaware County, GO
(SAW), 5.00%, 03/01/36		870		901,378
(SAW), 5.00%, 03/01/37		890		918,877
(SAW), 5.00%, 03/01/40		1,025		1,051,908
(SAW), 5.00%, 03/01/43		775		791,614
State Public School Building Authority, RB^(c)
(AGM), 0.00%, 12/15/22		1,640		1,633,807
(AGM), 0.00%, 12/15/23		1,980		1,907,526
(AGM), 0.00%, 12/15/24		1,980		1,838,353
(AGM), 0.00%, 12/15/25		1,770		1,578,329
Township of Lower Paxton Pennsylvania, GO, Series A, 4.00%, 04/01/40		150		136,153
Tredyffrin Easttown School District, GO, (SAW), 5.00%, 02/15/39		695		720,858
West Shore School District, GO
(SAW), 5.00%, 11/15/43		2,095		2,138,616
(SAW), 5.00%, 11/15/48		1,200		1,217,970


				44,338,042

Education — 24.8%
Berks County Municipal Authority, Refunding RB 5.00%, 10/01/39		160		142,368
5.00%, 10/01/49		430		366,170
Bethlehem Redevelopment Authority, Refunding RB, 4.00%, 10/01/38		170		144,635
Chester County Industrial Development Authority, RB, 4.00%, 12/01/51		3,600		3,222,097
Delaware County Authority, RB 5.00%, 08/01/40		1,205		1,222,794
5.00%, 08/01/45		1,610		1,622,064
East Hempfield Township Industrial Development Authority, RB^(d)5.00%, 07/01/23		785		794,408
5.00%, 07/01/25		1,255		1,306,507
Latrobe Industrial Development Authority, Refunding RB, 4.00%, 03/01/46		285		209,156
Lehigh County Industrial Development Authority, Refunding RB, 4.00%, 05/01/51		840		561,196
Northampton County General Purpose Authority, Refunding RB, 4.00%, 11/01/38		1,160		1,068,099
Pennsylvania Higher Education Assistance Agency, RB
Series A, AMT, 5.00%, 06/01/30		140		143,521
Series A, AMT, 2.63%, 06/01/42		1,125		847,486
Series B, AMT, Subordinate, 3.13%, 06/01/48		350		230,090
Pennsylvania Higher Educational Facilities Authority, RB
Series A, 5.00%, 11/01/31		845		853,228
Series AT-1, 4.00%, 06/15/34		2,000		1,955,210
Pennsylvania Higher Educational Facilities Authority, Refunding RB 5.00%, 05/01/37		1,325		1,199,658
Series A, 5.25%, 07/15/23^(d)		1,580		1,602,635

Schedule of Investments (unaudited) (continued)

October 31, 2022

BlackRock MuniYield Pennsylvania Quality Fund (MPA)

(Percentages shown are based on Net Assets)


Security	Par (000)		Value

Education (continued)
Pennsylvania Higher Educational Facilities Authority, Refunding RB (continued)
Series A, 5.50%, 07/15/23^(d)	$	385	$	391,100
Series A, (AGM), 4.00%, 05/01/50		5,000		4,105,715
Philadelphia Authority for Industrial Development RB, 4.00%, 12/01/48		3,300		2,914,474
Philadelphia Authority for Industrial Development, RB 4.00%, 06/15/29		280		251,985
5.00%, 06/15/39		335		294,028
4.00%, 06/01/41		260		193,882
5.00%, 06/15/49		935		768,247
5.00%, 06/15/50		575		459,619
4.00%, 06/01/51		205		136,866
4.00%, 06/01/56		290		186,578
Philadelphia Authority for Industrial Development, Refunding RB 5.00%, 05/01/30		415		419,636
5.00%, 05/01/40		375		356,434
5.00%, 06/15/40^(b)		620		558,734
4.00%, 05/01/42		2,985		2,251,415
4.00%, 11/01/45		740		611,464
5.00%, 05/01/50		1,120		998,374
5.00%, 06/15/50^(b)		415		347,678
Series 2015, 5.00%, 04/01/45		2,170		2,184,033
Series A, 5.25%, 06/15/52		375		326,950
Sports & Exhibition Authority of Pittsburgh and Allegheny County, RB, Series A, VRDN, (AGM), 2.26%, 11/01/38^(a)(e)		2,390		2,390,000
Swarthmore Borough Authority, Refunding RB, 5.00%, 09/15/38		830		842,581
University of Pittsburgh-of the Commonwealth System of Higher Education RB, 2.60%, 02/15/24^(a)		1,380		1,376,310


				39,857,425

Health — 32.0%
Allegheny County Hospital Development Authority, RB Series B, (NPFGC), 6.00%, 07/01/26		2,000		2,156,248
Series D2, 2.94%, 11/15/47^(a)		1,040		1,043,145
Allegheny County Hospital Development Authority, Refunding RB
Series A, 4.00%, 04/01/37		1,700		1,514,619
Series A, (AGM-CR), 4.00%, 04/01/44		3,440		2,942,658
Series A, 5.00%, 04/01/47		700		671,863
Bucks County Industrial Development Authority, RB, 4.00%, 07/01/51		1,000		655,455
Bucks County Industrial Development Authority, Refunding RB, 5.00%, 10/01/37		940		883,839
Cumberland County Municipal Authority, Refunding RB 5.00%, 01/01/25^(d)		255		263,725
4.00%, 01/01/36		395		335,119
4.13%, 01/01/38		160		133,608
5.00%, 01/01/38		1,290		1,233,030
5.00%, 01/01/39		690		674,250
Doylestown Hospital Authority, RB, Series A, 5.00%, 07/01/49		500		385,018
DuBois Hospital Authority, Refunding RB, 4.00%, 07/15/48		2,060		1,599,460
Geisinger Authority, Refunding RB, Series A-2, 5.00%, 02/15/39		4,050		4,088,605


Security	Par (000)		Value

Health (continued)
Hospitals & Higher Education Facilities Authority of Philadelphia, Refunding RB, (AGM), 4.00%, 07/01/40	$	825	$	721,557
Lancaster County Hospital Authority, Refunding RB, 5.00%, 11/01/35		575		580,907
Lancaster Industrial Development Authority, RB 4.00%, 12/01/44		420		347,665
5.00%, 12/01/44		665		644,506
4.00%, 12/01/49		565		449,550
Lancaster Industrial Development Authority, Refunding RB, 5.75%, 05/01/23^(d)		865		876,120
Montgomery County Higher Education and Health Authority, Refunding RB 4.00%, 09/01/44		3,100		2,600,981
Class B, 5.00%, 05/01/57		1,230		1,172,329
Series A, 5.00%, 09/01/37		840		840,029
Series A, 5.00%, 09/01/48		1,100		1,063,980
Montgomery County Industrial Development Authority, RB
Series C, 4.00%, 11/15/43		200		154,927
Series C, 5.00%, 11/15/45		915		847,728
Montgomery County Industrial Development Authority, Refunding RB, 5.25%, 01/01/40		220		211,374
Mount Lebanon Hospital Authority, RB, 4.00%, 07/01/48		2,345		1,975,261
Northampton County General Purpose Authority, Refunding RB 5.00%, 08/15/46		1,000		965,809
5.00%, 08/15/48		1,125		1,079,920
Pennsylvania Economic Development Financing Authority, RB, Series B, 4.00%, 03/15/40		8,000		7,092,616
Pennsylvania Higher Educational Facilities Authority, Refunding RB, Series A, 5.00%, 09/01/45		2,000		1,962,742
Pottsville Hospital Authority, Refunding RB, Series B, 5.00%, 07/01/41		3,000		2,958,108
St Mary Hospital Authority, 5.00%, 12/01/28^(d)		2,495		2,709,029
St. Mary Hospital Authority, Refunding RB, 5.00%, 12/01/48		1,255		1,265,346
Wayne County Hospital & Health Facilities Authority, RB, Series A, (GTD), 4.00%, 07/01/46		1,595		1,252,885
West Cornwall Township Municipal Authority, Refunding RB
Series A, 4.00%, 11/15/36		230		198,025
Series A, 4.00%, 11/15/41		225		182,602
Series A, 4.00%, 11/15/46		335		258,552
Westmoreland County Industrial Development Authority, Refunding RB, Series A, 4.00%, 07/01/37		360		299,991


				51,293,181

Housing — 4.4%
Pennsylvania Housing Finance Agency, RB, S/F Housing
Series 137, 2.45%, 10/01/41		685		464,140
Series 137, 2.60%, 04/01/46		2,730		1,733,113
Pennsylvania Housing Finance Agency, Refunding RB, S/F Housing, Series 2022, 4.15%, 10/01/42		2,000		1,755,960
Philadelphia Authority for Industrial Development, RB, M/F Housing
Series A, 3.50%, 12/01/36		810		590,480
Series A, 4.00%, 12/01/46		2,970		1,985,603
Series A, 4.00%, 12/01/51		805		512,577


				7,041,873


S C H E D U L E O F I N V E S T M E N T S			2

Schedule of Investments (unaudited) (continued)

October 31, 2022

BlackRock MuniYield Pennsylvania Quality Fund (MPA)

(Percentages shown are based on Net Assets)


Security	Par (000)		Value

State — 12.1%
Commonwealth Financing Authority, RB 5.00%, 06/01/34	$	4,175	$	4,274,887
5.00%, 06/01/35		1,295		1,322,142
Pennsylvania Economic Development Financing Authority, RB, AMT, 5.00%, 06/30/42		7,380		6,889,105
Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, RB, Sub-Series B, 5.25%, 12/01/48		1,930		1,957,186
Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, Refunding RB, Series A, 4.00%, 12/01/51		5,940		5,040,042


				19,483,362

Transportation — 16.2%
City of Philadelphia Pennsylvania Airport Revenue, Refunding ARB, Series B, AMT, 5.00%, 07/01/37		1,100		1,096,020
Delaware River Joint Toll Bridge Commission, RB, 5.00%, 07/01/42		1,500		1,519,557
Delaware River Port Authority, RB, 5.00%, 01/01/37		2,285		2,294,044
Pennsylvania Economic Development Financing Authority, Refunding RB, Series A, AMT, 5.00%, 11/01/41		4,035		4,035,000
Pennsylvania Turnpike Commission, RB Series A, 5.50%, 12/01/42		1,685		1,714,375
Sub-Series B-1, 5.00%, 06/01/42		2,345		2,332,843
Series B, Subordinate, 3.00%, 12/01/51		1,470		887,627
Pennsylvania Turnpike Commission, RB, CAB^(c)
Sub-Series A-3, (AGM), 0.00%, 12/01/40		1,975		809,497
Sub-Series A-3, 0.00%, 12/01/42		4,760		1,501,999
Pennsylvania Turnpike Commission, Refunding RB
Series A-1, 5.25%, 12/01/45		3,270		3,278,427
Series B-2, (AGM), 5.00%, 06/01/35		1,850		1,914,417
Series C, 5.00%, 12/01/46		425		417,682
Series C, 3.00%, 12/01/51		920		568,702
Southeastern Pennsylvania Transportation Authority, RB 5.00%, 06/01/32		1,075		1,138,549
5.25%, 06/01/47		2,305		2,430,888


				25,939,627

Utilities — 12.8%
Aliquippa Municipal Water Authority Water & Sewer Revenue, RB, (BAM), 4.00%, 11/15/51		1,245		1,006,889
Allegheny Valley Joint Sewage Authority, RB, (BAM), 4.00%, 08/01/52		755		622,146
Bucks County Water and Sewer Authority, RB
Series A, (AGM), 5.00%, 12/01/37		780		788,900
Series A, (AGM), 5.00%, 12/01/40		1,000		1,009,532
City of Philadelphia Pennsylvania Water & Wastewater Revenue, RB
Series A, 5.00%, 10/01/43		3,040		3,082,922
Series A, 5.00%, 11/01/45		1,790		1,811,800
Series A, 5.25%, 10/01/52		810		819,970
Series C, 5.50%, 06/01/47		1,900		2,000,155
Delaware County Regional Water Quality Control Authority, RB, 5.00%, 05/01/23^(d)		420		423,854
New Kensington Municipal Sanitary Authority, RB, (AGM), 3.25%, 12/01/47		1,195		960,243
Oxford Area Sewer Authority, Refunding RB
(BAM), 3.00%, 07/01/35		100		87,229
(BAM), 3.00%, 07/01/46		1,255		890,042


Security	Par (000)		Value

Utilities (continued)
Pennsylvania Economic Development Financing Authority, Refunding RB, Class B, VRDN, 3.25%, 12/01/38^(a)(e)	$	1,000	$	1,000,000
Philadelphia Gas Works Co., Refunding RB 5.00%, 08/01/30		800		820,495
5.00%, 08/01/31		600		613,187
5.00%, 08/01/32		800		816,623
5.00%, 08/01/33		400		405,584
5.00%, 08/01/34		700		707,967
Pittsburgh Water & Sewer Authority, RB, Series B, (AGM), 4.00%, 09/01/50		900		707,402
Pittsburgh Water & Sewer Authority, Refunding RB, Class C, (AGM), 2.89%, 09/01/40^(a)		1,380		1,379,553
Williamsport Sanitary Authority, Refunding RB, (BAM), 4.00%, 01/01/40		580		522,833


				20,477,326


Total Municipal Bonds in Pennsylvania				213,633,406

Puerto Rico — 4.7%

State — 4.7%
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53		265		221,683
Series A-1, Restructured, 5.00%, 07/01/58		389		332,798
Series A-2, Restructured, 4.78%, 07/01/58		46		38,145
Series A-2, Restructured, 4.33%, 07/01/40		519		440,387
Series B-1, Restructured, 4.75%, 07/01/53		283		235,559
Series B-1, Restructured, 5.00%, 07/01/58		3,423		2,932,203
Series B-2, Restructured, 4.33%, 07/01/40		2,701		2,272,927
Series B-2, Restructured, 4.78%, 07/01/58		274		226,023
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46^(c)		3,575		775,854


Total Municipal Bonds in Puerto Rico				7,475,579


Total Municipal Bonds — 138.1% (Cost: $246,497,234)				221,542,891


Municipal Bonds Transferred to Tender Option Bond Trusts^(f)

Pennsylvania — 14.5%

Education — 6.5%
Pennsylvania Higher Educational Facilities Authority, RB, Series AR, 4.00%, 06/15/38		11,335		10,421,963


Health — 4.5%
General Authority of Southcentral Pennsylvania, Refunding RB, Series A, 5.00%, 06/01/24^(d)		7,000		7,182,693

Schedule of Investments (unaudited) (continued)

October 31, 2022

BlackRock MuniYield Pennsylvania Quality Fund (MPA)

(Percentages shown are based on Net Assets)


Security	Par (000)		Value

State — 3.5%
Commonwealth of Pennsylvania, GO, 1st Series, 4.00%, 03/01/38^(a)(g)	$	6,000	$	5,660,052


Total Municipal Bonds in Pennsylvania				23,264,708


Total Municipal Bonds Transferred to Tender Option Bond Trusts — 14.5% (Cost: $24,473,202)				23,264,708


Total Long-Term Investments — 152.6% (Cost: $270,970,436)				244,807,599


	Shares

Short-Term Securities

Money Market Funds — 4.9%
BlackRock Liquidity Funds, MuniCash, Institutional Class, 1.83%^(h)(i)		7,894,865		7,894,075


Total Short-Term Securities — 4.9% (Cost: $7,894,075)				7,894,075


Total Investments — 157.5% (Cost: $278,864,511)				252,701,674
Other Assets Less Liabilities — 2.6%				4,267,040
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (8.8)%				(14,125,350	)
VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (51.3)%				(82,359,841	)


Net Assets Applicable to Common Shares — 100.0%			$	160,483,523

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

^(f)	Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing.

^(g)	All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreement, which expires on March 1, 2026, is $3,123,333.

^(h)	Affiliate of the Fund.

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

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

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 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 07/31/22		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 10/31/22		Shares Held at 10/31/22		Income		Capital Gain Distributions from Underlying Funds

BlackRock Liquidity Funds, MuniCash, Institutional Class	$	3,965,312	$	3,931,966	^(a)	$	—	$	(2,290)	$	(913)	$	7,894,075		7,894,865	$	29,823	$	—

^(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		71		12/20/22	$	7,859	$	166,471
U.S. Long Bond		105		12/20/22		12,692		620,159
5-Year U.S. Treasury Note		66		12/30/22		7,038		126,323


							$	912,953


S C H E D U L E O F I N V E S T M E N T S			4

Schedule of Investments (unaudited) (continued)

October 31, 2022

BlackRock MuniYield Pennsylvania Quality Fund (MPA)

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 Fund 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 Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’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	$	—	$	221,542,891	$	—	$	221,542,891
Municipal Bonds Transferred to Tender Option Bond Trusts		—		23,264,708		—		23,264,708
Short-Term Securities
Money Market Funds		7,894,075		—		—		7,894,075


	$	7,894,075	$	244,807,599	$	—	$	252,701,674

Derivative Financial Instruments^(a)
Assets
Interest Rate Contracts	$	912,953	$	—	$	—	$	912,953

^(a)

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

The Fund 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	$	—	$	(14,060,000)	$	—	$	(14,060,000)
VRDP Shares at Liquidation Value		—		(82,600,000)		—		(82,600,000)


	$	—	$	(96,660,000)	$	—	$	(96,660,000)



Portfolio Abbreviation


AGM		Assured Guaranty Municipal Corp.

AGM-CR		AGM Insured Custodial Receipt

AMT		Alternative Minimum Tax

ARB		Airport Revenue Bonds

BAM		Build America Mutual Assurance Co.

CAB		Capital Appreciation Bonds

CR		Custodian Receipt



Portfolio Abbreviation (continued)


GO		General Obligation Bonds

GTD		GTD Guaranteed

M/F		Multi-Family

NPFGC		National Public Finance Guarantee Corp.

RB		Revenue Bond

S/F		Single-Family

SAB		Special Assessment Bonds

Schedule of Investments (unaudited) (continued)

October 31, 2022

BlackRock MuniYield Pennsylvania Quality Fund (MPA)



Portfolio Abbreviation (continued)


SAW		State Aid Withholding

TA		Tax Allocation

VRDN		Variable Rate Demand Note


S C H E D U L E O F I N V E S T M E N T S			6