Company: BLE
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074469
Chunk: 24

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 24
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. Treasury obligations.                                                                                                                                                                                                                                    |
| (j) | Represent bonds transferred to a TOB Trust in exchange of cash and residual certificatesreceived by the Fund. These bonds serve as collateral in a secured borrowing. SeeNote 4 of the Notes to Financial Statements for details.                                                                              |
| (k) | All or a portion of the security is subject to a recourse agreement. The aggregatemaximum potential amount the Fund could ultimately be required to pay under theagreements, which expire between February 1, 2029 to May 1, 2052, is $11,697,234. SeeNote 4 of the Notes to Financial Statements for details. |
| (l) | Affiliate of the Fund.                                                                                                                                                                                                                                                                                         |
| (m) | Annualized 7-day yield as of period end.                                                                                                                                                                                                                                                                       |

Affiliates Investments in issuers considered to be affiliate(s) of the Fund during the six months ended January 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

| Affiliated Issuer                                         | Value at07/31/24 | Purchasesat Cost | Proceedsfrom Sales | NetRealizedGain (Loss) | Change inUnrealizedAppreciation(Depreciation) | Value at01/31/25 | SharesHeld at01/31/25 |  Income | Capital GainDistributionsfromUnderlyingFunds |
| BlackRock Liquidity Funds, MuniCash, Institutional Shares |       $3,462,930 | $—               | $(929,923)(a)      | $—                     | $—                                            |       $2,533,007 |             2,532,754 | $56,557 | $—                                           |

| (a) | Represents net amount purchased (sold). |

24 2025 BlackRock Semi-Annual Report to Shareholders

Schedule of Investments (unaudited) (continued) January 31, 2025 BlackRock Investment Quality Municipal Trust, Inc. (BKN)

Derivative Financial Instruments Outstanding as of Period End Futures Contracts

| Description                | Number ofContracts | ExpirationDate | NotionalAmount (000) | Value/UnrealizedAppreciation(Depreciation) |
| Short Contracts            |                    |                |                      |                                            |
| 10-Year U.S. Treasury Note |                 40 | 03/20/25       |