Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)

Schedule of Investments (unaudited)  March 31, 2024		BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

 

Security		Par (000)				Value
Corporate Bonds
Diversified Consumer Services — 3.1%
Grand Canyon University, 5.13%, 10/01/28		$	9,377			$	8,480,278
Rensselaer Polytechnic Institute, Series 2018, 5.25%, 09/01/48			18,190				16,415,768
Wesleyan University, 4.78%, 07/01/2116(a)			11,000				9,335,466
							34,231,512
Financial Services(b) — 1.7%
MMH Master LLC
6.38%, 02/01/34			2,750				2,771,143
6.50%, 02/01/39			6,475				6,526,052
6.75%, 02/01/44			7,300				7,284,734
Western Group Housing LP, 6.75%, 03/15/57			2,388				2,521,458
							19,103,387
Health Care Providers & Services — 3.0%
CommonSpirit Health, 5.32%, 12/01/34			14,655				14,679,782
Ochsner Clinic Foundation, 5.90%, 05/15/45(a)			5,000				4,882,847
West Virginia United Health System Obligated Group, Series 2018, 4.92%, 06/01/48			15,000				13,497,188
							33,059,817
Total Corporate Bonds — 7.8% (Cost: $92,908,696)							86,394,716
Municipal Bonds
Alabama — 0.1%
Jacksonville Public Educational Building Authority, RB, (AGM), 7.00%, 08/01/46			1,365				1,456,892
Alaska — 0.9%
Alaska Housing Finance Corp., RB, S/F Housing, Series C, 6.25%, 12/01/53			10,000				10,257,979
Arizona — 2.2%
Salt River Project Agricultural Improvement & Power District, RB, BAB, 4.84%, 01/01/41(a)			24,545				23,877,539
Arkansas — 0.7%
Arkansas Development Finance Authority, RB, 7.38%, 07/01/48(b)			7,400				8,148,591
California — 21.6%
Alameda Corridor Transportation Authority, Refunding RB, CAB(c)
Series D, (AGM), 0.00%, 10/01/40			3,775				1,434,994
Series B, Senior Lien, 0.00%, 10/01/42			5,000				1,748,140
Alameda County Joint Powers Authority, RB, BAB, Series A, 7.05%, 12/01/44			11,000				13,156,072
Bay Area Toll Authority, RB, BAB
Series S-1, 6.92%, 04/01/40			13,700				15,674,588
Series S-3, 6.91%, 10/01/50			14,000				17,006,758
California Infrastructure & Economic Development Bank, RB, 5.50%, 01/01/38(b)			4,800				3,607,755
California State Public Works Board, RB, BAB, Series G-2, 8.36%, 10/01/34(a)			17,050				20,691,110
California State University, Refunding RB, Series B, 2.80%, 11/01/41			5,000				3,749,443
City of Chula Vista California, RB, 2.40%, 06/01/36			1,275				973,079
City of Huntington Beach California, Refunding RB
3.28%, 06/15/40(a)			6,000				4,695,588
3.38%, 06/15/44			1,500				1,118,362

Security		Par (000)				Value
California (continued)
City of Orange California, RB, (BAM), 3.12%, 06/01/44		$	2,000			$	1,407,722
City of San Francisco California Public Utilities Commission Water Revenue, RB, BAB, Series DE, 6.00%, 11/01/40(a)			21,255				22,121,081
County of Sonoma California, Refunding RB, Series A, 6.00%, 12/01/29(a)			10,420				10,742,709
Golden State Tobacco Securitization Corp., Refunding RB
(SAP), 3.12%, 06/01/38			11,410				9,270,831
Series A-1, 4.21%, 06/01/50			35,775				27,173,658
Imperial Irrigation District, RB, (AMBAC), 6.94%, 01/01/26			1,115				1,134,190
Los Angeles Community College District, GO, BAB, 6.60%, 08/01/42			10,000				11,288,873
Orange County Local Transportation Authority Sales Tax Revenue, Refunding RB, BAB, Series A, 6.91%, 02/15/41			5,000				5,657,459
San Diego County Regional Airport Authority, ARB, Series B, 5.59%, 07/01/43			3,795				3,771,260
San Joaquin Hills Transportation Corridor Agency, Refunding RB, Series B, (AGM), 3.49%, 01/15/50			7,200				5,557,349
State of California, GO, BAB
7.55%, 04/01/39(a)			9,035				11,066,084
7.35%, 11/01/39			5,000				5,920,125
7.63%, 03/01/40			8,950				10,957,774
7.60%, 11/01/40(a)			15,000				18,523,037
State of California, Refunding GO, 5.13%, 03/01/38			10,010				10,105,987
							238,554,028
Colorado — 4.3%
Colorado Health Facilities Authority, Refunding RB, Series B, 4.48%, 12/01/40			11,885				10,078,610
Colorado Housing and Finance Authority, RB, S/F Housing, Series B-1, Class I, (GNMA), 6.25%, 11/01/54(d)			2,180				2,265,451
Denver City & County School District No. 1, Refunding COP, Series B, 7.02%, 12/15/37			6,000				6,951,118
Regional Transportation District, COP, BAB, Series B, 7.67%, 06/01/40(a)			23,000				27,695,177
							46,990,356
Connecticut — 0.3%
Connecticut State Health & Educational Facilities Authority, Refunding RB, Series G-2, 4.25%, 07/01/27(b)			3,935				3,819,089
District of Columbia — 1.8%
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, ARB, BAB, Series D, 8.00%, 10/01/47(a)			10,750				13,980,771
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, RB, BAB, 7.46%, 10/01/46			5,000				6,259,045
							20,239,816
Florida — 3.6%
Capital Trust Agency, Inc., RB(b)
5.00%, 01/01/25			175				174,014
5.50%, 06/15/26			445				424,763
County of Miami-Dade Seaport Department, ARB, 6.22%, 11/01/55			3,295				3,512,635

 

 

 

S C H E D U L E  O F   I N V E S T M E N T S		1

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Schedule of Investments (unaudited) (continued) March 31, 2024		BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

 

Security		Par (000)				Value
Florida (continued)
Excelsior Academies, Inc., RB, Series C, 5.25%, 11/01/25		$	195			$	190,813
Florida Development Finance Corp., RB(b)
6.75%, 12/15/28			690				693,098
Series B, 5.00%, 06/15/25			285				280,574
Series B, 5.75%, 06/15/25			505				495,152
Series D, 5.75%, 12/15/26			650				631,722
Florida Development Finance Corp., Refunding RB, Series B, 4.11%, 04/01/50			10,000				8,204,385
Miami-Dade County Educational Facilities Authority, Refunding RB, Series B, 5.07%, 04/01/50			12,250				12,133,641
Miami-Dade County Industrial Development Authority, RB, 5.25%, 11/01/25			70				68,413
Village Center Community Development District, Refunding RB, 5.02%, 11/01/36			13,500				13,142,146
							39,951,356
Georgia — 5.8%
East Point Business & Industrial Development Authority, RB, Series B, 5.25%, 06/15/31(b)			860				843,758
Municipal Electric Authority of Georgia, Refunding RB, BAB
6.64%, 04/01/57			25,422				28,834,164
6.66%, 04/01/57			20,536				23,640,574
7.06%, 04/01/57			9,420				10,681,740
							64,000,236
Hawaii — 0.7%
State of Hawaii, GO, Series GK, 6.05%, 10/01/36			5,000				5,435,358
State of Hawaii, Refunding GO, Series GC, 2.37%, 10/01/35			2,500				1,971,679
							7,407,037
Idaho — 2.0%
Idaho Housing & Finance Association, RB
Series B, 4.75%, 06/15/29(b)			235				218,025
Series B, 7.15%, 06/15/31			545				497,130
Idaho Housing & Finance Association, RB, S/F Housing
Series B, (FHLMC, FNMA, GNMA), 6.25%, 07/01/54			5,915				6,143,438
Series E, (FHLMC, FNMA, GNMA), 6.06%, 01/01/44(a)			15,000				15,540,386
							22,398,979
Illinois — 15.9%
Chicago Board of Education, GO, BAB
6.04%, 12/01/29			10,435				10,267,333
6.14%, 12/01/39			370				345,228
6.52%, 12/01/40			9,745				9,370,821
Chicago O’Hare International Airport, Refunding ARB, BAB, Series B, 6.40%, 01/01/40			1,500				1,648,276
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue, RB
Series A, 6.90%, 12/01/40			3,847				4,336,851
Series B, 6.90%, 12/01/40			4,623				5,212,242
Chicago Transit Authority Sales Tax Receipts Fund, RB, BAB, Series B, 6.20%, 12/01/40(a)			16,015				17,125,272
City of Chicago Illinois Wastewater Transmission Revenue, RB, BAB, Series B, 2nd Lien, 6.90%, 01/01/40(a)			36,000				40,823,600

Security		Par (000)				Value
Illinois (continued)
City of Chicago Illinois Waterworks Revenue, RB, BAB, Series B, 6.74%, 11/01/40		$	15,250			$	17,333,253
Illinois Finance Authority, RB, 6.69%, 07/01/33			2,925				3,078,065
Illinois Housing Development Authority, RB, S/F Housing, Series B, Sustainability Bonds, (FHLMC, FNMA, GNMA), 5.88%, 10/01/49			4,445				4,479,827
Illinois Municipal Electric Agency, RB, BAB, 7.29%, 02/01/35(a)			15,000				16,664,209
Northern Illinois Municipal Power Agency, RB, BAB, 7.82%, 01/01/40			5,000				5,970,292
State of Illinois, GO, BAB
6.73%, 04/01/35			5,834				6,140,643
7.35%, 07/01/35(a)			30,733				33,145,473
							175,941,385
Indiana — 1.7%
Indiana Finance Authority, RB, BAB, Series B, 6.60%, 02/01/39(a)			7,900				8,847,667
Indiana Municipal Power Agency, RB, BAB, Series A, 5.59%, 01/01/42			10,000				10,272,778
							19,120,445
Kentucky — 0.9%
Westvaco Corp., RB, 7.67%, 01/15/27(b)			9,400				9,808,831
Louisiana — 0.9%
Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Series A-3, 5.20%, 12/01/39			9,750				9,863,213
Maryland — 2.2%
Maryland Community Development Administration, RB, S/F Housing
Series F, Sustainability Bonds, (FHLMC, FNMA, GNMA), 6.15%, 09/01/38			5,000				5,204,209
Series F, Sustainability Bonds, (FHLMC, FNMA, GNMA), 6.23%, 09/01/43			10,000				10,327,509
Maryland Economic Development Corp., RB, 4.00%, 04/01/34			9,295				7,470,351
Maryland Health & Higher Educational Facilities Authority, RB, Series B, 6.25%, 03/01/27(b)			765				736,107
							23,738,176
Massachusetts — 4.2%
Commonwealth of Massachusetts Transportation Fund Revenue, RB, BAB, 5.73%, 06/01/40(a)			5,000				5,187,677
Massachusetts Educational Financing Authority, RB
Series A, 3.61%, 07/01/36			9,270				8,693,930
Series A, 5.95%, 07/01/44			15,000				15,438,787
Massachusetts Educational Financing Authority, Refunding RB, Series A, 4.95%, 07/01/38			16,695				16,436,993
							45,757,387
Michigan — 4.1%
Michigan Finance Authority, RB 6.38%, 06/01/33(b)(e)(f)			1,000				837,895
Series D, 5.02%, 11/01/43			7,500				7,327,562
Michigan Finance Authority, Refunding RB, CAB, Series B, 0.00%, 06/01/45(c)			50,000				13,175,205
Michigan State Housing Development Authority, RB, S/F Housing, Series B, Sustainability Bonds, 5.77%, 12/01/44			3,125				3,152,479

 

 

 

2

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Schedule of Investments (unaudited) (continued) March 31, 2024		BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

 

Security		Par (000)				Value
Michigan (continued)
Michigan State University, RB, BAB, Series A, 6.17%, 02/15/50(a)		$	5,500			$	5,713,565
Michigan State University, Refunding RB, Series A, 4.50%, 08/15/48			14,575				13,499,825
Western Michigan University, Refunding RB, Series B, (AGM), 2.88%, 11/15/43			1,500				1,096,789
							44,803,320
Minnesota — 1.3%
Southern Minnesota Municipal Power Agency, Refunding RB, BAB, Series A, 5.93%, 01/01/43			8,000				8,465,131
Western Minnesota Municipal Power Agency, RB, BAB, 6.77%, 01/01/46			5,000				5,981,312
							14,446,443
Mississippi — 0.5%
Mississippi Development Bank, RB, BAB, 6.41%, 01/01/40			5,000				5,555,793
Missouri — 1.9%
Curators of the University of Missouri, RB, BAB, 5.79%, 11/01/41			7,000				7,467,950
Missouri Joint Municipal Electric Utility Commission, RB, BAB, 7.73%, 01/01/39			11,000				13,115,736
							20,583,686
Nevada — 0.4%
City of North Las Vegas Nevada, GO, BAB, 6.57%, 06/01/40			1,420				1,552,506
County of Clark Department of Aviation, ARB, BAB, Series C, 6.82%, 07/01/45			2,000				2,331,394
							3,883,900
New Hampshire — 1.4%
New Hampshire Business Finance Authority, RB, 3.78%, 01/01/36			2,500				1,935,057
New Hampshire Business Finance Authority, Refunding RB
3.30%, 04/01/32			12,895				10,086,260
2.87%, 07/01/35			4,815				3,576,598
							15,597,915
New Jersey — 10.5%
New Jersey Economic Development Authority, RB
Series A, (NPFGC), 7.43%, 02/15/29(a)			20,974				22,401,769
Series B, 7.00%, 06/15/30(b)			3,515				3,519,323
New Jersey Educational Facilities Authority, Refunding RB, (AGM), 3.51%, 07/01/42			13,500				10,612,956
New Jersey Institute of Technology, Refunding RB, Series B, 3.42%, 07/01/42			7,500				6,154,996
New Jersey Transportation Trust Fund Authority, RB, BAB, Series C, 5.75%, 12/15/28			4,500				4,528,777
New Jersey Transportation Trust Fund Authority, Refunding RB
4.08%, 06/15/39			7,230				6,323,798
4.13%, 06/15/42			16,765				14,405,333
New Jersey Turnpike Authority, RB, BAB(a)
Series A, 7.10%, 01/01/41			34,000				39,692,191
Series F, 7.41%, 01/01/40			6,790				8,164,758
							115,803,901
New York — 8.4%
City of New York, Refunding GO, Series D, 2.17%, 08/01/34			7,285				5,748,194
Metropolitan Transportation Authority, RB, BAB 6.67%, 11/15/39			2,220				2,443,512

Security		Par (000)				Value
New York (continued)
Metropolitan Transportation Authority, RB, BAB (continued)
7.34%, 11/15/39(a)		$	13,245			$	16,206,354
Series TR, 6.69%, 11/15/40			13,000				14,260,165
Metropolitan Transportation Authority, Refunding RB, Series C-2, Sustainability Bonds, 5.18%, 11/15/49			4,370				4,051,972
New York City Housing Development Corp., RB, M/F Housing, 3.10%, 11/01/45			1,310				919,638
New York City Transitional Finance Authority Future Tax Secured Revenue, RB, BAB, 5.57%, 11/01/38(a)			19,000				19,479,633
New York State Dormitory Authority, RB, BAB, Series H, 5.39%, 03/15/40(a)			15,000				14,998,774
New York State Dormitory Authority, Refunding RB, Series B, 5.75%, 07/01/24(g)			6,010				6,013,005
Triborough Bridge & Tunnel Authority, Refunding RB, Series A-3, 2.51%, 05/15/35			10,390				8,252,373
							92,373,620
North Carolina — 0.7%
North Carolina Housing Finance Agency, RB, S/F Housing, Series 53-B, Sustainability Bonds, (FHLMC, FNMA, GNMA), 6.25%, 01/01/55			7,000				7,173,559
Ohio — 6.1%
American Municipal Power, Inc., RB, Series B, 7.83%, 02/15/41			10,000				12,234,299
American Municipal Power, Inc., Refunding RB, BAB, Series B, 6.45%, 02/15/44			10,000				10,945,272
Franklin County Convention Facilities Authority, RB, BAB, 6.64%, 12/01/42(a)			30,575				34,426,642
Ohio University, RB, 5.59%, 12/01/2114			10,100				9,579,297
							67,185,510
Oklahoma — 1.5%
Oklahoma Development Finance Authority, RB
Series A-3, 5.09%, 02/01/52(a)			6,750				6,624,460
Series A-3, 4.71%, 05/01/52			3,695				3,533,141
Series B, 11.00%, 09/01/41(b)			3,000				2,752,718
Oklahoma Municipal Power Authority, RB, BAB, 6.44%, 01/01/45(a)			3,500				3,732,489
							16,642,808
Pennsylvania — 3.2%
Commonwealth Financing Authority, RB
Series A, 4.14%, 06/01/38			4,435				4,122,306
Series A, 3.81%, 06/01/41			6,110				5,309,098
Pennsylvania Economic Development Financing Authority, RB, BAB, Series B, 6.53%, 06/15/39			23,050				25,721,007
							35,152,411
Puerto Rico — 2.5%
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 5.00%, 07/01/58			3,465				3,467,061
Series A-2, Restructured, 4.55%, 07/01/40			14,899				11,869,050
Series A-2, Restructured, 4.78%, 07/01/58			12,447				12,390,977
							27,727,088
South Carolina — 3.0%
Charleston Educational Excellence Finance Corp., Refunding RB, 1.87%, 12/01/29			10,000				8,677,865
South Carolina Jobs-Economic Development Authority, RB, 7.35%, 08/15/30(b)			710				693,388
South Carolina Public Service Authority, RB, BAB, Series C, (AGM-CR), 6.45%, 01/01/50(a)			11,290				12,672,239

 

 

 

S C H E D U L E  O F   I N V E S T M E N T S		3

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Schedule of Investments (unaudited) (continued) March 31, 2024		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 C, 5.78%, 12/01/41		$	4,595			$	4,790,357
Series D, (AGM), 6.45%, 12/01/42			2,870				3,180,980
South Carolina Student Loan Corp., RB, Series A, 3.59%, 12/01/39			4,285				3,544,417
							33,559,246
Tennessee — 4.5%
Memphis-Shelby County Industrial Development Board, Refunding TA, Series B, 5.45%, 07/01/45			5,875				4,100,719
Metropolitan Government of Nashville & Davidson County Convention Center Authority, RB, BAB, Series A-2, 7.43%, 07/01/43(a)			35,105				42,028,818
Tennessee Housing Development Agency, RB, S/F Housing, Series 1B, Sustainability Bonds, 5.92%, 07/01/49			545				551,811
Tennessee State School Bond Authority, Refunding RB, Series A, 2.56%, 11/01/41			4,525				3,206,756
							49,888,104
Texas — 5.1%
Arlington Higher Education Finance Corp., RB(b)
5.50%, 04/01/30			500				488,310
6.50%, 11/01/32			1,280				1,298,601
Arlington Higher Education Finance Corp., Refunding RB, Series B, 4.00%, 08/15/28			1,355				1,240,458
City of San Antonio Texas Customer Facility Charge Revenue, ARB, 5.87%, 07/01/45			7,500				7,513,425
Dallas Area Rapid Transit, RB, BAB, 5.02%, 12/01/48(a)			2,500				2,453,158
New Hope Higher Education Finance Corp., RB, Series B, 5.00%, 06/15/27(b)			390				376,565
Port Beaumont Navigation District, Refunding RB, Series B, 6.00%, 01/01/25(b)			3,185				3,131,425
Port of Beaumont Industrial Development Authority, RB, 4.10%, 01/01/28(b)			18,785				16,194,327
Texas Department of Housing & Community Affairs, RB, S/F Housing, Series B, (GNMA), 5.55%, 01/01/44(d)			3,000				3,006,609
Texas Private Activity Bond Surface Transportation Corp., RB, Series B, 3.92%, 12/31/49			25,000				20,505,850
							56,208,728
Utah — 2.8%
Utah Housing Corp., RB, S/F Housing, Series D, (FHLMC, FNMA, GNMA), 6.25%, 07/01/54			3,000				3,113,362
Utah Transit Authority, RB, BAB, 5.71%, 06/15/40(a)			26,405				27,493,604
							30,606,966
Virginia — 3.5%
Tobacco Settlement Financing Corp., Refunding RB, Series A-1, 6.71%, 06/01/46			29,630				25,651,749
Virginia Housing Development Authority, RB, M/F Housing
Series D, 3.52%, 06/01/40			4,000				3,194,585
Series F, 3.13%, 07/01/45			3,425				2,408,476
Virginia Housing Development Authority, RB, S/F
Housing, Series A, 5.57%, 10/01/49			6,845				6,818,955
							38,073,765

Security		Par (000)				Value
Washington — 1.9%
Washington State Convention Center Public Facilities District, RB, BAB, 6.79%, 07/01/40		$	19,415			$	20,915,349
West Virginia — 2.4%
Tobacco Settlement Finance Authority, RB, Series B, 0.00%, 06/01/47(c)			1,600				137,227
Tobacco Settlement Finance Authority, Refunding RB
Class 1, 4.31%, 06/01/49			20,000				15,665,073
Class 2, 4.88%, 06/01/49			11,900				11,154,787
							26,957,087
Wisconsin — 0.3%
Public Finance Authority, RB
4.75%, 06/15/25(b)			495				490,301
5.38%, 06/15/28(b)			400				380,532
5.25%, 01/01/31(b)			1,150				886,597
Class S, 5.25%, 06/15/26(b)			140				134,923
Series B, 6.00%, 06/15/24			155				154,128
Public Finance Authority, Refunding RB, Series B, 6.13%, 10/01/49(b)			1,470				1,280,293
							3,326,774
Total Municipal Bonds — 135.8% (Cost: $1,447,839,989)							1,497,797,308
Total Long-Term Investments — 143.6% (Cost: $1,540,748,685)							1,584,192,024
		Shares
Short-Term Securities
Money Market Funds — 0.7%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 5.19%(h)(i)			8,036,693				8,036,693
Total Short-Term Securities — 0.7% (Cost: $8,036,693)							8,036,693
Total Investments — 144.3% (Cost: $1,548,785,378)							1,592,228,717
Liabilities in Excess of Other Assets — (44.3)%							(488,725,747	)
Net Assets — 100.0%						$	1,103,502,970

 

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

(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)	When-issued security.

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

(f)	Non-income producing security.

(g)	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.

(h)	Affiliate of the Trust.

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

 

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Trust for compliance purposes.

 

 

4

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Schedule of Investments (unaudited) (continued) March 31, 2024		BlackRock Taxable Municipal Bond Trust (BBN)

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer		Value at 12/31/23				Purchases at Cost				Proceeds from Sales				Net Realized Gain (Loss)				Change in Unrealized Appreciation (Depreciation)				Value at 03/31/24				Shares Held at 03/31/24				Income				Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class		$	7,737,117			$	299,576	(a)		$	—			$	—			$	—			$	8,036,693				8,036,693			$	231,937			$	—

 

(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)

TD Securities (USA) LLC

5.57

%(b)

11/14/23

Open

$

18,891,250

$

19,292,532

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/01/23

Open

971,763

990,026

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/01/23

Open

8,784,281

8,938,660

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.55

(b)

12/08/23

Open

5,732,475

5,830,930

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

3,272,500

3,328,914

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

4,550,000

4,616,342

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

6,100,313

6,205,195

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

7,587,825

7,718,978

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

2,068,750

2,104,508

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

18,981,470

19,309,559

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

7,613,625

7,744,875

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

13,125,000

13,348,253

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

10,150,000

10,324,975

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

17,076,250

17,371,408

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

13,195,000

13,423,072

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.50

(b)

12/08/23

Open

40,282,987

40,970,428

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.53

(b)

12/08/23

Open

10,604,831

10,786,504

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/13/23

Open

3,322,069

3,377,026

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/13/23

Open

25,596,450

26,028,810

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/13/23

Open

4,731,250

4,810,604

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

14,157,500

14,394,953

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

13,965,000

14,133,298

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

3,041,250

3,092,398

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

2,845,000

2,892,847

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

18,572,500

18,879,746

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

15,831,250

16,097,501

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

19,855,000

20,188,922

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

7,612,500

7,740,179

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

6,156,250

6,259,222

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

4,665,375

4,743,884

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

6,067,500

6,169,604

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

11,437,500

11,629,971

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

10,450,000

10,625,374

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

10,575,000

10,752,181

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

7,236,862

7,358,114

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

9,405,000

9,560,854

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

7,026,281

7,143,683

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

2,027,500

2,061,656

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

1,500,000

1,525,242

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

7,079,688

7,198,306

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/20/23

Open

18,318,750

18,607,830

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.05

(b)

01/29/24

Open

8,277,500

8,349,491

Corporate Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

02/08/24

Open

2,876,250

2,899,516

Corporate Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

02/08/24

Open

1,917,500

1,932,927

Corporate Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

03/27/24

Open

19,530,000

19,545,190

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

03/27/24

Open

16,495,450

16,508,211

Municipal Bonds

Open/Demand

 

 

S C H E D U L E  O F   I N V E S T M E N T S		5

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Schedule of Investments (unaudited) (continued) March 31, 2024		BlackRock Taxable Municipal Bond Trust (BBN)

 

Reverse Repurchase Agreements (continued)

 

Counterparty

Interest Rate

Trade Date

Maturity Date

(a)

Face Value

Face Value Including Accrued Interest

Type of Non-Cash Underlying Collateral

Remaining Contractual Maturity of the Agreements

(a)

TD Securities (USA) LLC

5.57

%(b)

03/27/24

Open

$

14,887,500

$

14,899,017

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

03/27/24

Open

20,332,125

20,347,854

Municipal Bonds

Open/Demand

$

504,780,120

$

512,059,570

 

(a)

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

(b)

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

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

 

Description		Number of Contracts				Expiration Date				Notional Amount (000)				Value/ Unrealized Appreciation (Depreciation)
Short Contracts
10-Year U.S. Treasury Note			377				06/18/24			$	41,770			$	(252,031	)
U.S. Long Bond			797				06/18/24				95,989				(1,550,378	)
														$	(1,802,409	)

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		$	—			$	86,394,716			$	—			$	86,394,716
Municipal Bonds			—				1,497,797,308				—				1,497,797,308
Short-Term Securities
Money Market Funds			8,036,693				—				—				8,036,693
		$	8,036,693			$	1,584,192,024			$	—			$	1,592,228,717

 

 

6

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Schedule of Investments (unaudited) (continued) March 31, 2024		BlackRock Taxable Municipal Bond Trust (BBN)

 

Fair Value Hierarchy as of Period End (continued)

 

		Level 1				Level 2				Level 3				Total
Derivative Financial Instruments(a)
Liabilities
Interest Rate Contracts		$	(1,802,409	)		$	—			$	—			$	(1,802,409	)

 

(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 $512,059,570 are categorized as Level 2 within the fair value hierarchy.

 

Portfolio Abbreviation
AGM		Assured Guaranty Municipal Corp.
AGM-CR		AGM Insured Custodial Receipt
AMBAC		AMBAC Assurance Corp.
ARB		Airport Revenue Bonds
BAB		Build America Bond
BAM		Build America Mutual Assurance Co.
CAB		Capital Appreciation Bonds
COP		Certificates of Participation
FHLMC		Federal Home Loan Mortgage Corp.
FNMA		Federal National Mortgage Association
GNMA		Government National Mortgage Association
GO		General Obligation Bonds
M/F		Multi-Family
NPFGC		National Public Finance Guarantee Corp.
RB		Revenue Bond
S/F		Single-Family
SAP		Subject to Appropriations
TA		Tax Allocation

 

 

S C H E D U L E  O F   I N V E S T M E N T S		7

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