Company: BLE
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074469
Chunk: 32

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 32
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 contractsUnrealized depreciation on futures contracts(a) | $—                 | $—              | $—              | $—                               |              $272,652 | $—             | $272,652 |

| (a) | Net cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, are reported in the Schedule of Investments. In the Statements of Assetsand Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulatedearnings (loss). |

For the period ended January 31, 2025, the effect of derivative financial instruments in the Statements of Operations was as follows:

|                                                          | CommodityContracts | CreditContracts | EquityContracts | ForeignCurrencyExchangeContracts | InterestRateContracts | OtherContracts | Total      |
| Net Change in Unrealized Appreciation (Depreciation) on: |                    |                 |                 |                                  |                       |                |            |
| Futures contracts                                        | $—                 | $—              | $—              | $—                               | $(272,652)            | $—             | $(272,652) |

Average Quarterly Balances of Outstanding Derivative Financial Instruments

| Futures contracts:                          |            |
| Average notional value of contracts — long  |      $—(a) |
| Average notional value of contracts — short | 23,704,102 |

| (a) | Derivative financial instrument not held at any quarter-end. The risk exposure table serves as an indicator of activity during the period. |

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Schedule of Investments 57

Schedule of Investments (unaudited) (continued) January 31, 2025 BlackRock MuniVest Fund, Inc. (MVF)

Fair Value Hierarchy as of Period End Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to 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                                                   |            |              |         |              |