Company: BLE
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074469
Chunk: 30

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 30
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s | —       |  309,988,408 | —       |  309,988,408 |

50 2025 BlackRock Semi-Annual Report to Shareholders

Schedule of Investments (unaudited) (continued) January 31, 2025 BlackRock MuniHoldings Fund, Inc. (MHD)

Fair Value Hierarchy as of Period End (continued)

|                                     |     Level 1 |        Level 2 | Level 3 |          Total |
| Short-Term Securities               |             |                |         |                |
| Money Market Funds                  | $12,714,853 |             $— | $—      |    $12,714,853 |
|                                     | $12,714,853 | $1,075,899,794 | $—      | $1,088,614,647 |
| Derivative Financial Instruments(a) |             |                |         |                |
| Liabilities                         |             |                |         |                |
| Interest Rate Contracts             |  $(388,864) |             $— | $—      |     $(388,864) |

| (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 statement 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           | $—      | $(186,687,991) | $—      | $(186,687,991) |
| VMTP Shares at Liquidation Value | —       |   -214,000,000 | —       |   -214,000,000 |
|                                  | $—      | $(400,687,991) | $—      | $(400,687,991) |

See notes to financial statements.

Schedule of Investments 51

Schedule of Investments (unaudited) January 31, 2025 BlackRock MuniVest Fund, Inc. (MVF) (Percentages shown are based on Net Assets)

| Security                                                                                             
 Municipal Bonds                                                                                      
 Alabama — 6.6%                                                                                       
 Black Belt Energy Gas District, RB(a)                                                                |   |