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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BlackRock Municipal Income Quality Trust | NYSE:BYM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.05 | 0.44% | 11.54 | 11.54 | 11.41 | 11.45 | 78,719 | 23:53:06 |
Schedule of Investments (unaudited) October 31, 2023 |
BlackRock Municipal Income Quality Trust (BYM) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Municipal Bonds |
||||||||
Alabama 5.7% |
||||||||
Black Belt Energy Gas District, RB(a) |
$ | 3,830 | $ | 3,690,452 | ||||
Series A, 5.25%, 01/01/54 |
3,875 | 3,868,471 | ||||||
City of Birmingham Alabama, GO, CAB, Series A-1,
Convertible, |
1,165 | 1,187,986 | ||||||
Energy Southeast A Cooperative District, RB, Series B-1, 5.75%, 04/01/54(a) |
6,980 | 7,218,245 | ||||||
Southeast Energy Authority A Cooperative District, RB, Series B, 5.00%, 01/01/54(a) |
755 | 749,187 | ||||||
|
|
|||||||
16,714,341 | ||||||||
Arizona 1.1% | ||||||||
Arizona Industrial Development Authority,
RB(d) |
||||||||
4.38%, 07/01/39 |
725 | 569,273 | ||||||
Series A, 5.00%, 07/01/49 |
690 | 555,903 | ||||||
Series A, 5.00%, 07/01/54 |
530 | 416,053 | ||||||
City of Phoenix Civic Improvement Corp., RB, 5.25%, 07/01/47(e) |
835 | 866,594 | ||||||
Industrial Development Authority of the County of Pima, Refunding RB, 5.00%, 06/15/49(d) |
685 | 556,559 | ||||||
Maricopa County Industrial Development Authority, Refunding RB, 5.00%, 07/01/54(d) |
360 | 292,410 | ||||||
|
|
|||||||
3,256,792 | ||||||||
California 12.0% | ||||||||
California Community Housing Agency, RB, M/F Housing, 3.00%, 08/01/56(d) |
155 | 93,211 | ||||||
California Enterprise Development Authority, RB, 8.00%, 11/15/62(d) |
475 | 419,499 | ||||||
California Health Facilities Financing Authority, Refunding RB, Series B, 5.00%, 11/15/46 |
3,715 | 3,649,593 | ||||||
California Infrastructure & Economic Development Bank, RB, Series A, 1st Lien, (AMBAC), 5.00%, 01/01/28(b) |
10,100 | 10,725,267 | ||||||
CSCDA Community Improvement Authority, RB, M/F Housing(d) |
||||||||
5.00%, 09/01/37 |
120 | 109,877 | ||||||
4.00%, 10/01/56 |
195 | 146,832 | ||||||
4.00%, 12/01/56 |
230 | 145,151 | ||||||
Series A, 4.00%, 06/01/58 |
955 | 651,489 | ||||||
Senior Lien, 3.13%, 06/01/57 |
690 | 394,777 | ||||||
Series A, Senior Lien, 4.00%, 12/01/58 |
955 | 645,852 | ||||||
Los Angeles County Facilities, Inc., RB, Series A, 4.00%, 12/01/48 |
2,370 | 2,015,783 | ||||||
Mount San Antonio Community College District, Refunding GO, CAB, CAB, Series A, Convertible, Election 2013, 6.25%, 08/01/28(c) |
1,580 | 1,366,359 | ||||||
Regents of the University of California Medical Center Pooled Revenue, RB, Series P, 4.00%, 05/15/53 |
4,100 | 3,482,267 | ||||||
San Diego County Regional Airport Authority, ARB, Series A, Subordinate, 4.00%, 07/01/51 |
2,730 | 2,238,740 | ||||||
San Diego Unified School District, GO, Series C, Election 2008, 0.00%, 07/01/38(f) |
2,000 | 995,563 | ||||||
San Diego Unified School District, GO, CAB, Series G, Election 2008, 0.00%, 01/01/24(b)(f) |
3,425 | 1,772,430 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
San Diego Unified School District, Refunding GO, CAB, Series R-1, 0.00%, 07/01/31(f) |
$ | 1,400 | $ | 1,014,900 | ||||
Yosemite Community College District, GO, Series D, Election 2004, 0.00%, 08/01/37(f) |
10,000 | 5,098,779 | ||||||
|
|
|||||||
34,966,369 | ||||||||
Colorado 0.3% | ||||||||
Sabell Metropolitan District, GO, Series A, 5.00%, 12/01/50(d) |
1,055 | 790,017 | ||||||
|
|
|||||||
Connecticut 0.3% | ||||||||
Connecticut State Health & Educational Facilities Authority, RB, 4.25%, 07/15/53 |
1,170 | 938,224 | ||||||
|
|
|||||||
Delaware 0.8% | ||||||||
County of Kent Delaware, RB |
1,810 | 1,552,131 | ||||||
Series A, 5.00%, 07/01/40 |
770 | 718,634 | ||||||
|
|
|||||||
2,270,765 | ||||||||
District of Columbia 3.7% | ||||||||
District of Columbia Tobacco Settlement Financing Corp., Refunding RB, 6.75%, 05/15/40 |
9,225 | 9,489,258 | ||||||
Washington Metropolitan Area Transit Authority Dedicated Revenue, RB, 5.00%, 07/15/48 |
1,210 | 1,220,116 | ||||||
|
|
|||||||
10,709,374 | ||||||||
Florida 5.5% | ||||||||
Brevard County Health Facilities Authority, Refunding RB, 5.00%, 04/01/39 |
1,795 | 1,800,041 | ||||||
Capital Trust Agency, Inc., RB(d) |
||||||||
Series A, 5.00%, 06/01/45 |
615 | 482,975 | ||||||
Series A, 5.50%, 06/01/57 |
220 | 174,714 | ||||||
County of Miami-Dade Florida Water & Sewer System Revenue, Refunding RB, Series B, 4.00%, 10/01/49 |
2,665 | 2,260,204 | ||||||
County of Pasco Florida, RB, (AGM), 5.00%, 09/01/48 |
3,090 | 3,076,473 | ||||||
Florida Development Finance Corp., RB |
420 | 362,021 | ||||||
Series A, 5.00%, 06/15/56 |
580 | 506,000 | ||||||
Florida Development Finance Corp., Refunding RB, 5.00%, 09/15/40(d) |
340 | 277,553 | ||||||
Lakewood Ranch Stewardship District, SAB, 6.30%, 05/01/54 |
265 | 257,943 | ||||||
Orange County Housing Finance Authority, RB, S/F Housing, 5.00%, 10/01/53 |
4,000 | 3,758,611 | ||||||
Preserve at South Branch Community Development District, SAB |
300 | 238,815 | ||||||
4.00%, 11/01/50 |
500 | 347,282 | ||||||
Tampa-Hillsborough County Expressway Authority, RB, 5.00%, 07/01/47 |
1,895 | 1,854,747 | ||||||
Village Community Development District No. 15, SAB, 5.25%, 05/01/54(d) |
280 | 247,125 | ||||||
Westside Community Development District, Refunding
SAB(d) |
260 | 221,489 | ||||||
4.13%, 05/01/38 |
260 | 219,599 | ||||||
|
|
|||||||
16,085,592 | ||||||||
Georgia 2.5% | ||||||||
City of Atlanta Georgia Department of Aviation, ARB, Series B-1, 5.00%, 07/01/53 |
915 | 926,088 |
1 |
Schedule of Investments (unaudited) (continued) October 31, 2023 |
BlackRock Municipal Income Quality Trust (BYM) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Georgia (continued) | ||||||||
East Point Business & Industrial Development Authority, RB, Series A, 5.25%, 06/15/62(d) |
$ | 245 | $ | 193,184 | ||||
Gainesville & Hall County Hospital Authority, Refunding RB, Series A, (GTD), 5.50%, 02/15/25(b) |
545 | 556,212 | ||||||
Main Street Natural Gas, Inc., RB |
||||||||
Series A, 5.00%, 05/15/38 |
595 | 566,930 | ||||||
Series A, 5.00%, 05/15/43 |
775 | 738,241 | ||||||
Series A, 5.00%, 06/01/53(a) |
4,355 | 4,281,718 | ||||||
|
|
|||||||
7,262,373 | ||||||||
Idaho 0.5% | ||||||||
Idaho Housing & Finance Association, RB, (GTD), 5.50%, 05/01/57 |
1,510 | 1,485,957 | ||||||
|
|
|||||||
Illinois 12.8% | ||||||||
Chicago Board of Education, GO |
||||||||
Series A, 5.00%, 12/01/34 |
1,620 | 1,578,171 | ||||||
Series A, 5.00%, 12/01/40 |
1,540 | 1,401,985 | ||||||
Series A, 5.00%, 12/01/47 |
450 | 394,821 | ||||||
Chicago OHare International Airport, ARB, Series D, Senior Lien, 5.25%, 01/01/42 |
3,300 | 3,278,291 | ||||||
Chicago Transit Authority Sales Tax Receipts Fund, RB, 5.25%, 12/01/49 |
3,500 | 3,424,008 | ||||||
City of Chicago Illinois Wastewater Transmission Revenue, RB, Series A, 2nd Lien, (AGM), 5.25%, 01/01/58 |
4,565 | 4,566,591 | ||||||
Cook County Community College District No. 508, GO |
7,700 | 7,175,188 | ||||||
5.50%, 12/01/38 |
1,000 | 975,791 | ||||||
Illinois Finance Authority, RB, Series A, 5.00%, 02/15/50 |
310 | 256,757 | ||||||
Illinois Finance Authority, Refunding RB |
||||||||
Series C, 4.13%, 08/15/37 |
3,130 | 2,683,260 | ||||||
Series C, 5.00%, 08/15/44 |
390 | 352,952 | ||||||
Illinois Housing Development Authority, Refunding RB, S/F Housing, Series H, (FHLMC, FNMA, GNMA), 4.65%, 10/01/43 |
1,905 | 1,724,446 | ||||||
Illinois State Toll Highway Authority, RB, Series A, 5.00%, 01/01/40 |
7,020 | 7,031,757 | ||||||
Metropolitan Pier & Exposition Authority, RB, 5.00%, 06/15/57 |
670 | 612,077 | ||||||
State of Illinois, GO, 5.50%, 05/01/39 |
1,840 | 1,882,638 | ||||||
|
|
|||||||
37,338,733 | ||||||||
Indiana 0.1% | ||||||||
Indiana Finance Authority, RB, Series A, 4.00%, 11/01/51 |
525 | 418,359 | ||||||
|
|
|||||||
Louisiana 0.5% | ||||||||
Louisiana Stadium & Exposition District, Refunding RB, Series A, 5.00%, 07/01/48 |
1,575 | 1,552,280 | ||||||
|
|
|||||||
Massachusetts 1.3% | ||||||||
Massachusetts Development Finance Agency, RB |
1,970 | 1,652,189 | ||||||
Series A, 5.00%, 01/01/47 |
2,370 | 2,142,294 | ||||||
|
|
|||||||
3,794,483 | ||||||||
Michigan 1.4% | ||||||||
Michigan Finance Authority, Refunding RB, 5.00%, 11/15/41 |
2,235 | 2,192,633 |
Security | Par (000) |
Value | ||||||
Michigan (continued) | ||||||||
Michigan State Building Authority, Refunding RB, Series II, 4.00%, 10/15/47 |
$ | 335 | $ | 284,211 | ||||
State of Michigan Trunk Line Revenue, RB, BAB, 5.50%, 11/15/49 |
1,145 | 1,201,502 | ||||||
Western Michigan University, Refunding RB, (AGM), 5.00%, 11/15/23(b) |
430 | 430,078 | ||||||
|
|
|||||||
4,108,424 | ||||||||
Nebraska 0.3% | ||||||||
Omaha Public Power District, RB, Series A, 5.25%, 02/01/48(e) |
950 | 984,128 | ||||||
|
|
|||||||
Nevada 0.8% | ||||||||
City of Las Vegas Nevada Special Improvement District No. 611, SAB |
445 | 356,163 | ||||||
4.13%, 06/01/50 |
1,135 | 838,487 | ||||||
Tahoe-Douglas Visitors Authority, RB |
760 | 695,513 | ||||||
5.00%, 07/01/45 |
530 | 464,689 | ||||||
|
|
|||||||
2,354,852 | ||||||||
New Hampshire 0.1% | ||||||||
New Hampshire Business Finance Authority, Refunding RB, Series A, 3.63%, 07/01/43(a)(d) |
300 | 199,503 | ||||||
|
|
|||||||
New Jersey 7.3% | ||||||||
Camden County Improvement Authority, RB, 6.00%, 06/15/62 |
500 | 511,322 | ||||||
New Jersey Economic Development Authority, RB(b) |
||||||||
Series DDD, 5.00%, 06/15/27 |
375 | 392,225 | ||||||
Series WW, 5.00%, 06/15/25 |
1,620 | 1,649,829 | ||||||
Series WW, 5.25%, 06/15/25 |
550 | 562,311 | ||||||
New Jersey Economic Development Authority, Refunding RB, Sub-Series A, 4.00%, 07/01/32 |
930 | 872,006 | ||||||
New Jersey Transportation Trust Fund Authority, RB |
||||||||
Series BB, 4.00%, 06/15/50 |
3,000 | 2,451,329 | ||||||
Series D, 5.00%, 06/15/32 |
900 | 909,151 | ||||||
Series S, 5.25%, 06/15/43 |
2,150 | 2,171,310 | ||||||
New Jersey Transportation Trust Fund Authority, RB, CAB(f) |
||||||||
Series A, 0.00%, 12/15/35 |
4,050 | 2,225,047 | ||||||
Series A, 0.00%, 12/15/38 |
5,845 | 2,652,545 | ||||||
New Jersey Transportation Trust Fund Authority, Refunding RB |
||||||||
Series A, 5.00%, 12/15/36 |
340 | 344,606 | ||||||
Series A, 4.00%, 06/15/40 |
1,690 | 1,504,231 | ||||||
South Jersey Port Corp., ARB, Series A, 5.00%, 01/01/49 |
720 | 688,652 | ||||||
Tobacco Settlement Financing Corp., Refunding RB |
||||||||
Series A, 5.00%, 06/01/46 |
820 | 772,887 | ||||||
Series A, 5.25%, 06/01/46 |
905 | 889,660 | ||||||
Sub-Series B, 5.00%, 06/01/46 |
2,920 | 2,711,558 | ||||||
|
|
|||||||
21,308,669 | ||||||||
New Mexico 0.1% | ||||||||
City of Santa Fe New Mexico, RB, Series A, 5.00%, 05/15/44 |
175 | 137,356 | ||||||
|
|
|||||||
New York 6.5% | ||||||||
City of New York, GO, Series B, 5.25%, 10/01/47 |
100 | 102,405 |
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, 2023 |
BlackRock Municipal Income Quality Trust (BYM) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
Metropolitan Transportation Authority, Refunding RB |
||||||||
Series C-1, 5.25%, 11/15/55 |
$ | 1,135 | $ | 1,115,978 | ||||
Series C-1, 5.00%, 11/15/56 |
1,690 | 1,581,873 | ||||||
New York City Municipal Water Finance Authority, Refunding RB, Series DD, 4.13%, 06/15/46 |
5,670 | 4,971,437 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, RB, Series A-1, Subordinate, 4.00%, 08/01/48 |
1,320 | 1,116,354 | ||||||
New York City Transitional Finance Authority, RB, Subordinate, 5.00%, 05/01/46 |
1,520 | 1,539,783 | ||||||
New York Liberty Development Corp., Refunding RB, Class 1, 5.00%, 11/15/44(d) |
1,040 | 928,054 | ||||||
Triborough Bridge & Tunnel Authority Sales Tax Revenue, RB |
||||||||
Series A, 5.25%, 05/15/52 |
1,000 | 1,020,345 | ||||||
Series A, 4.13%, 05/15/53 |
1,000 | 844,891 | ||||||
Triborough Bridge & Tunnel Authority, RB, Series D-2, Senior Lien, 5.50%, 05/15/52 |
4,340 | 4,505,991 | ||||||
Triborough Bridge & Tunnel Authority, Refunding RB |
||||||||
Series A-1, 5.00%, 05/15/51 |
230 | 227,538 | ||||||
Series C, 5.25%, 11/15/40 |
1,025 | 1,079,595 | ||||||
|
|
|||||||
19,034,244 | ||||||||
Ohio 4.1% | ||||||||
Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, 5.00%, 06/01/55 |
5,905 | 4,828,528 | ||||||
County of Hamilton Ohio, RB, Series A, 5.00%, 08/15/42 |
2,650 | 2,566,610 | ||||||
Northeast Ohio Regional Sewer District, Refunding RB, 4.00%, 11/15/43 |
5,175 | 4,520,945 | ||||||
|
|
|||||||
11,916,083 | ||||||||
Oklahoma 0.7% | ||||||||
Oklahoma Turnpike Authority, RB, 5.50%, 01/01/53 |
1,960 | 2,056,425 | ||||||
|
|
|||||||
Oregon 0.2% | ||||||||
Clackamas County School District No. 12 North Clackamas, GO, CAB, Series A, (GTD), 0.00%, 06/15/38(f) |
1,115 | 495,366 | ||||||
|
|
|||||||
Pennsylvania 5.3% | ||||||||
Bucks County Industrial Development Authority, RB, 4.00%, 07/01/46 |
205 | 134,867 | ||||||
Commonwealth Financing Authority, RB, (AGM), 4.00%, 06/01/39 |
3,230 | 2,895,955 | ||||||
Montgomery County Higher Education and Health Authority, Refunding RB, Series A, 4.00%, 09/01/49 |
1,145 | 902,970 | ||||||
Pennsylvania Higher Educational Facilities Authority, RB, 4.00%, 08/15/49 |
5,000 | 4,031,206 | ||||||
Pennsylvania Housing Finance Agency, RB, S/F Housing, Series 142-A, 5.00%, 10/01/43 |
1,895 | 1,876,010 | ||||||
Pennsylvania Housing Finance Agency, Refunding RB, S/F Housing, Series 2022, 4.25%, 10/01/47 |
2,415 | 2,022,246 | ||||||
Pennsylvania Turnpike Commission, RB |
||||||||
Series C, 5.50%, 12/01/23(b) |
630 | 630,473 | ||||||
Series A, Subordinate, 4.00%, 12/01/46 |
1,605 | 1,327,458 |
Security | Par (000) |
Value | ||||||
Pennsylvania (continued) | ||||||||
Pennsylvania Turnpike Commission, Refunding RB |
||||||||
Series A, 5.00%, 12/01/38 |
$ | 695 | $ | 702,007 | ||||
Series A-1, 5.00%, 12/01/40 |
850 | 836,645 | ||||||
|
|
|||||||
15,359,837 | ||||||||
Puerto Rico 5.0% | ||||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB |
||||||||
Series A-1, Restructured, 4.75%, 07/01/53 |
6,639 | 5,600,378 | ||||||
Series A-1, Restructured, 5.00%, 07/01/58 |
5,423 | 4,699,753 | ||||||
Series A-2, Restructured, 4.78%, 07/01/58 |
349 | 292,204 | ||||||
Series A-2, Restructured, 4.33%, 07/01/40 |
1,688 | 1,457,609 | ||||||
Series B-1, Restructured, 4.75%, 07/01/53 |
536 | 453,065 | ||||||
Series B-2, Restructured, 4.78%, 07/01/58 |
520 | 434,785 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(f) |
6,226 | 1,538,995 | ||||||
|
|
|||||||
14,476,789 | ||||||||
South Carolina 4.2% | ||||||||
Patriots Energy Group Financing Agency, RB, Series A1, 5.25%, 10/01/54(a) |
5,685 | 5,664,054 | ||||||
South Carolina Jobs-Economic Development Authority,
RB(d) |
1,095 | 824,124 | ||||||
7.50%, 08/15/62 |
505 | 418,962 | ||||||
South Carolina Jobs-Economic Development Authority, Refunding RB, 4.00%, 12/01/44 |
1,645 | 1,371,846 | ||||||
South Carolina Public Service Authority, RB, Series E, 5.50%, 12/01/53 |
1,610 | 1,574,150 | ||||||
South Carolina Public Service Authority, Refunding RB, 5.00%, 12/01/38 |
2,360 | 2,359,831 | ||||||
|
|
|||||||
12,212,967 | ||||||||
South Dakota 0.6% | ||||||||
City of Rapid City South Dakota Sales Tax Revenue, RB, 4.00%, 12/01/26(b) |
1,760 | 1,777,711 | ||||||
|
|
|||||||
Tennessee 1.3% | ||||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, Series A, 5.00%, 07/01/40 |
35 | 34,697 | ||||||
Tennergy Corp., RB, Series A, 5.50%, 10/01/53(a) |
1,575 | 1,580,092 | ||||||
Tennessee Housing Development Agency, RB, S/F Housing, Series 2, 4.35%, 01/01/48 |
2,500 | 2,155,937 | ||||||
|
|
|||||||
3,770,726 | ||||||||
Texas 22.3% | ||||||||
Arlington Higher Education Finance Corp.,
RB(d) |
530 | 463,706 | ||||||
7.88%, 11/01/62 |
450 | 423,665 | ||||||
City of Austin Texas Airport System Revenue, ARB, Series A, RB, 5.00%, 11/15/41 |
1,990 | 1,997,353 | ||||||
City of Dallas Texas Waterworks & Sewer System Revenue, Refunding RB, Series A, 5.00%, 10/01/41 |
760 | 763,828 | ||||||
City of Houston Texas, GO, 5.25%, 03/01/43 |
810 | 841,884 | ||||||
City of Lubbock Texas Electric Light & Power System Revenue, Refunding RB, 4.00%, 04/15/51 |
5,200 | 4,130,941 |
3 |
Schedule of Investments (unaudited) (continued) October 31, 2023 |
BlackRock Municipal Income Quality Trust (BYM) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
Coppell Independent School District, Refunding GO, (PSF), 0.00%, 08/15/30(f) |
$ | 10,030 | $ | 7,601,097 | ||||
County of Harris Texas, Refunding GO |
||||||||
(NPFGC), 0.00%, 08/15/25(f) |
7,485 | 6,978,602 | ||||||
(NPFGC), 0.00%, 08/15/28(f) |
10,915 | 9,010,878 | ||||||
Series A, 4.25%, 09/15/48 |
340 | 293,877 | ||||||
Crowley Independent School District, GO |
||||||||
(PSF), 5.00%, 02/01/48 |
315 | 319,940 | ||||||
(PSF), 4.25%, 02/01/53 |
310 | 274,511 | ||||||
Cypress-Fairbanks Independent School District, GO, (PSF), 4.00%, 02/15/48 |
755 | 646,702 | ||||||
Denton Independent School District, GO, (PSF), 5.00%, 08/15/48 |
570 | 579,376 | ||||||
Grand Parkway Transportation Corp., RB, CAB, Series B, Convertible, 5.80%, 10/01/46(c) |
2,365 | 2,460,008 | ||||||
Harris County-Houston Sports Authority, RB(f) |
||||||||
Series H, Junior Lien, (NPFGC), 0.00%, 11/15/38 |
5,785 | 2,276,337 | ||||||
Series H, Junior Lien, (NPFGC), 0.00%, 11/15/39 |
6,160 | 2,264,666 | ||||||
Harris County-Houston Sports Authority, Refunding RB(f) |
||||||||
Series A, 3rd Lien, (NPFGC), 0.00%, 11/15/24(b) |
5,965 | 2,508,229 | ||||||
Series A, 3rd Lien, (NPFGC), 0.00%, 11/15/38 |
10,925 | 4,231,944 | ||||||
Hutto Independent School District, GO, (PSF), 5.00%, 08/01/48 |
40 | 40,685 | ||||||
Leander Independent School District, Refunding GO, Series A, (PSF), 5.00%, 08/15/49 |
2,010 | 2,018,658 | ||||||
Marshall Independent School District, GO, (PSF), 4.00%, 02/15/45 |
380 | 337,914 | ||||||
Midland County Fresh Water Supply District No. 1, RB, CAB, Series A, 0.00%, 09/15/27(b)(f) |
2,340 | 1,293,728 | ||||||
New Hope Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 08/15/50(d) |
580 | 454,486 | ||||||
New Hope Cultural Education Facilities Finance Corp., Refunding RB, Series A, 4.00%, 08/15/40 |
4,000 | 3,476,789 | ||||||
North Texas Tollway Authority, RB(b) |
||||||||
Series B, 0.00%, 09/01/31(f) |
1,975 | 916,250 | ||||||
Series C, Convertible, 6.75%, 09/01/31(c) |
2,500 | 3,020,450 | ||||||
North Texas Tollway Authority, Refunding RB, Series B, 5.00%, 01/01/43 |
3,795 | 3,800,441 | ||||||
Northwest Independent School District, GO, (PSF), 5.00%, 02/15/48 |
730 | 739,342 | ||||||
Princeton Independent School District, GO, (PSF), 5.25%, 02/15/48 |
535 | 552,811 | ||||||
Texas City Industrial Development Corp., RB, Series 2012, 4.13%, 12/01/45 |
330 | 256,201 | ||||||
|
|
|||||||
64,975,299 | ||||||||
Utah(d) 0.2% | ||||||||
Utah Charter School Finance Authority, RB, Series A, 5.00%, 06/15/49 |
235 | 187,635 | ||||||
Utah Charter School Finance Authority, Refunding RB, 5.00%, 06/15/55 |
450 | 354,441 | ||||||
|
|
|||||||
542,076 | ||||||||
Virginia 5.5% | ||||||||
Hampton Roads Transportation Accountability Commission, RB, Series A, 4.00%, 07/01/57 |
4,000 | 3,290,183 | ||||||
Henrico County Economic Development Authority, RB, Class A, 5.00%, 10/01/47 |
5,750 | 5,202,684 |
Security | Par (000) |
Value | ||||||
Virginia (continued) | ||||||||
Tobacco Settlement Financing Corp., Refunding RB, Series B-1, 5.00%, 06/01/47 |
$ | 1,225 | $ | 1,055,154 | ||||
Virginia Beach Development Authority, Refunding RB |
1,230 | 1,043,212 | ||||||
4.00%, 09/01/48 |
885 | 593,798 | ||||||
Virginia College Building Authority, RB, 4.00%, 02/01/42 |
5,000 | 4,492,045 | ||||||
Virginia Housing Development Authority, RB, M/F Housing, Series G, 5.15%, 11/01/52 |
505 | 480,586 | ||||||
|
|
|||||||
16,157,662 | ||||||||
Washington 0.4% | ||||||||
Washington State Housing Finance Commission, Refunding RB, 5.00%, 01/01/38(d) |
1,400 | 1,134,264 | ||||||
|
|
|||||||
West Virginia 0.8% | ||||||||
West Virginia Hospital Finance Authority, RB, Series A, 4.00%, 06/01/51 |
3,050 | 2,445,662 | ||||||
|
|
|||||||
Wisconsin 2.1% | ||||||||
Public Finance Authority, RB |
270 | 206,108 | ||||||
Class A, 5.00%, 06/15/51(d) |
305 | 212,661 | ||||||
Class A, 6.00%, 06/15/52 |
175 | 142,642 | ||||||
Class A, 5.00%, 06/15/56(d) |
400 | 271,122 | ||||||
Class A, 6.13%, 06/15/57 |
200 | 162,686 | ||||||
Series A, 5.00%, 07/15/39(d) |
120 | 105,442 | ||||||
Series A, 5.00%, 10/15/40(d) |
1,260 | 1,016,422 | ||||||
Series A, 5.00%, 07/15/49(d) |
455 | 377,242 | ||||||
Series A, 5.00%, 07/01/55(d) |
395 | 288,064 | ||||||
Series A-1, 4.50%, 01/01/35(d) |
675 | 566,056 | ||||||
Public Finance Authority, Refunding RB, 5.00%, 09/01/39(d) |
375 | 297,243 | ||||||
Wisconsin Health & Educational Facilities Authority, Refunding RB, 5.00%, 04/01/44 |
1,895 | 1,924,363 | ||||||
Wisconsin Housing & Economic Development Authority Home Ownership Revenue, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.85%, 09/01/43 |
430 | 412,277 | ||||||
|
|
|||||||
5,982,328 | ||||||||
|
|
|||||||
Total Municipal Bonds 116.3% |
339,014,030 | |||||||
|
|
|||||||
Municipal Bonds Transferred to Tender Option Bond Trusts(g) |
| |||||||
California 3.0% | ||||||||
San Francisco City & County Public Utilities Commission Power Revenue, Refunding RB, Series B, 4.00%, 11/01/51 |
10,000 | 8,639,011 | ||||||
|
|
|||||||
Florida 2.5% | ||||||||
City of Fort Lauderdale Florida Water & Sewer Revenue, RB, 5.50%, 09/01/53 |
7,045 | 7,421,243 | ||||||
|
|
|||||||
Indiana 2.9% | ||||||||
Indiana Finance Authority, RB, Series A, 4.00%, 11/01/51 |
10,685 | 8,514,607 | ||||||
|
|
|||||||
Massachusetts 3.5% | ||||||||
Commonwealth of Massachusetts, GO, Series D, 5.00%, 10/01/51 |
10,000 | 10,150,409 | ||||||
|
|
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, 2023 |
BlackRock Municipal Income Quality Trust (BYM) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Nebraska 1.8% | ||||||||
Central Plains Energy Project, RB, Series 1, 5.00%, 05/01/53(a) |
$ | 5,220 | $ | 5,146,656 | ||||
|
|
|||||||
Nevada 3.3% | ||||||||
Las Vegas Valley Water District, GO, Series A, 5.00%, 06/01/49 |
9,500 | 9,637,657 | ||||||
|
|
|||||||
New York 16.6% | ||||||||
New York City Municipal Water Finance Authority, RB, Series DD, 5.00%, 06/15/47 |
9,705 | 9,786,870 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, RB, Series B-1, Subordinate, 4.00%, 08/01/36 |
7,350 | 7,101,099 | ||||||
New York State Dormitory Authority, Refunding RB, Series C, 4.00%, 07/01/49 |
8,955 | 7,490,979 | ||||||
New York State Urban Development Corp., RB |
||||||||
Series A, 5.00%, 03/15/50 |
8,000 | 8,000,522 | ||||||
Series A-1, 5.00%, 03/15/43 |
5,720 | 5,724,495 | ||||||
Port Authority of New York & New Jersey, Refunding RB, Series 230, 5.25%, 12/01/52(h) |
10,000 | 10,240,666 | ||||||
|
|
|||||||
48,344,631 | ||||||||
Washington 3.5% | ||||||||
State of Washington, GO, Series 2024-A, 5.00%, 08/01/48 |
10,000 | 10,142,177 | ||||||
|
|
|||||||
Total Municipal Bonds Transferred to Tender Option Bond Trusts 37.1% |
107,996,391 | |||||||
|
|
|||||||
Total Long-Term Investments 153.4% (Cost: $469,867,922) |
447,010,421 | |||||||
|
|
|||||||
Shares | ||||||||
Short-Term Securities | ||||||||
Money Market Funds 16.4% | ||||||||
BlackRock Liquidity Funds, MuniCash, Institutional Class, 3.82%(i)(j) |
47,618,410 | 47,618,410 | ||||||
|
|
|||||||
Total Short-Term Securities 16.4% |
47,618,410 | |||||||
|
|
|||||||
Total Investments 169.8% |
494,628,831 | |||||||
Liabilities in Excess of Other Assets (0.4)% |
|
(1,207,746 | ) | |||||
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable (22.3)% |
|
(64,864,038 | ) | |||||
VMTP Shares at Liquidation Value, Net of Deferred Offering Costs (47.1)% |
|
(137,200,000 | ) | |||||
|
|
|||||||
Net Assets Applicable to Common Shares 100.0% |
|
$ | 291,357,047 | |||||
|
|
(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) | 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. |
(c) | 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. |
(d) | 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. |
(e) | When-issued security. |
(f) | Zero-coupon bond. |
(g) | 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. |
(h) | 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 agreement, which expires on June 1, 2030, is $6,934,789. |
(i) | Affiliate of the Trust. |
(j) | Annualized 7-day yield as of period end. |
5 |
Schedule of Investments (unaudited) (continued) October 31, 2023 |
BlackRock Municipal Income Quality Trust (BYM) |
Affiliates
Investments in issuers considered to be affiliate(s) of the Trust during the period ended October 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 07/31/23 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/23 |
Shares Held at 10/31/23 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds, MuniCash, Institutional Class |
$ | 7,645,975 | $ | 39,972,347 | (a) | $ | | $ | (14 | ) | $ | 102 | $ | 47,618,410 | 47,618,410 | $ | 149,077 | $ | | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 |
78 | 12/19/23 | $ | 8,270 | $ | 19,685 | ||||||||||
U.S. Long Bond |
101 | 12/19/23 | 11,003 | 52,861 | ||||||||||||
5-Year U.S. Treasury Note |
68 | 12/29/23 | 7,102 | (1,505 | ) | |||||||||||
|
|
|||||||||||||||
$ | 71,041 | |||||||||||||||
|
|
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 marketcorroborated 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 Committees 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 Trusts policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Trusts financial instruments categorized in the fair value hierarchy. The breakdown of the Trusts 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 |
$ | | $ | 339,014,030 | $ | | $ | 339,014,030 | ||||||||
Municipal Bonds Transferred to Tender Option Bond Trusts |
| 107,996,391 | | 107,996,391 | ||||||||||||
Short-Term Securities |
47,618,410 | | | 47,618,410 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 47,618,410 | $ | 447,010,421 | $ | | $ | 494,628,831 | |||||||||
|
|
|
|
|
|
|
|
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) October 31, 2023 |
BlackRock Municipal Income Quality Trust (BYM) |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative Financial Instruments(a) |
||||||||||||||||
Assets |
||||||||||||||||
Interest Rate Contracts |
$ | 72,546 | $ | | $ | | $ | 72,546 | ||||||||
Liabilities |
||||||||||||||||
Interest Rate Contracts |
(1,505 | ) | | | (1,505 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 71,041 | $ | | $ | | $ | 71,041 | |||||||||
|
|
|
|
|
|
|
|
(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 |
$ | | $ | (64,559,983 | ) | $ | | $ | (64,559,983 | ) | ||||||
VMTP Shares at Liquidation Value |
| (137,200,000 | ) | | (137,200,000 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | | $ | (201,759,983) | $ | | $ | (201,759,983 | ) | ||||||||
|
|
|
|
|
|
|
|
Portfolio Abbreviation
AGM |
Assured Guaranty Municipal Corp. | |
AMBAC |
AMBAC Assurance Corp. | |
ARB |
Airport Revenue Bonds | |
BAB |
Build America Bond | |
CAB |
Capital Appreciation Bonds | |
FHLMC |
Federal Home Loan Mortgage Corp. | |
FNMA |
Federal National Mortgage Association | |
GNMA |
Government National Mortgage Association | |
GO |
General Obligation Bonds | |
GTD |
GTD Guaranteed | |
M/F |
Multi-Family | |
NPFGC |
National Public Finance Guarantee Corp. | |
PSF |
Permanent School Fund | |
RB |
Revenue Bond | |
S/F |
Single-Family | |
SAB |
Special Assessment Bonds | |
SAN |
State Aid Notes |
7 |
1 Year BlackRock Municipal Inco... Chart |
1 Month BlackRock Municipal Inco... Chart |
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