Please wait
October 31, 2025 
2025 Quarterly Report
(Unaudited)
 
BlackRock Municipal Income Trust II (BLE)
 
Not FDIC Insured • May Lose Value • No Bank Guarantee
Schedule of Investments (unaudited)
October 31, 2025
BlackRock Municipal Income Trust II (BLE)
(Percentages shown are based on Net Assets)
 
Security
 
Par
(000)
Value
Municipal Bonds
Alabama — 5.0%
Black Belt Energy Gas District, RB(a)
 
4.00%, 10/01/52
$
2,925
$ 2,945,142
Series A, 5.25%, 05/01/56
 
2,440
2,542,427
County of Jefferson Alabama Sewer Revenue, Refunding
RB, 5.25%, 10/01/49
 
4,580
4,774,062
Lower Alabama Gas District, RB, Series A, 5.00%,
09/01/46
 
7,465
8,068,832
Southeast Energy Authority A Cooperative District, RB(a)
 
Series A, 4.00%, 11/01/51
 
5,290
5,410,748
Series A, 5.00%, 01/01/56
 
1,720
1,841,285
Series A-1, 5.50%, 01/01/53
 
1,960
2,124,165
 
 
27,706,661
Arizona — 2.7%
Arizona Industrial Development Authority, RB(b)
 
4.38%, 07/01/39
 
225
204,666
Series A, 5.00%, 07/01/49
 
210
190,683
Series A, 5.00%, 07/01/54
 
165
146,806
Arizona Industrial Development Authority, Refunding RB,
Series A, 5.38%, 07/01/50(b)
 
1,185
1,171,721
City of Phoenix Civic Improvement Corp., RB, Junior
Lien, 5.25%, 07/01/47
 
1,740
1,870,231
Glendale Industrial Development Authority, RB, 5.00%,
05/15/56
 
100
86,293
Industrial Development Authority of the City of Phoenix
Arizona, RB, Series A, 5.00%, 07/01/46(b)
 
1,825
1,759,435
Industrial Development Authority of the County of Pima,
RB, 5.00%, 07/01/49(b)
 
350
318,226
Maricopa County Industrial Development Authority, RB,
6.38%, 07/01/58(b)
 
620
608,349
Salt Verde Financial Corp., RB
 
5.00%, 12/01/32
 
5,635
6,177,357
5.00%, 12/01/37
 
2,000
2,188,451
 
 
14,722,218
Arkansas — 0.2%
Arkansas Development Finance Authority, RB, AMT,
Sustainability Bonds, 5.70%, 05/01/53
 
975
995,148
California — 5.8%
California Community Choice Financing Authority, RB,
Class B, Sustainability Bonds, 5.00%, 03/01/56(a)
 
2,035
2,233,714
California County Tobacco Securitization Agency,
Refunding RB, Series A, 5.00%, 06/01/36
 
300
289,195
California Educational Facilities Authority, RB,
Series U-7, 5.00%, 06/01/46
 
2,315
2,656,100
California Enterprise Development Authority, RB, 8.00%,
11/15/62(b)
 
855
848,368
California Health Facilities Financing Authority,
Refunding RB, Sustainability Bonds, 5.00%, 08/01/55
 
1,500
1,503,913
California Infrastructure & Economic Development Bank,
Refunding RB, Series A, Class B, AMT, Sustainability
Bonds, 9.50%, 01/01/65(b)
 
2,555
2,044,000
California Municipal Finance Authority, ARB, AMT, Senior
Lien, 4.00%, 12/31/47
 
780
683,943
California Pollution Control Financing Authority, RB, AMT,
5.00%, 11/21/45(b)
 
2,130
2,130,070
California School Finance Authority, Refunding RB,
Series A, 5.00%, 07/01/51(b)
 
1,700
1,700,027
Security
 
Par
(000)
Value
California (continued)
City of Los Angeles Department of Airports, ARB, AMT,
Sustainability Bonds, 5.00%, 05/15/47
$
1,265
$ 1,300,203
City of Los Angeles Department of Airports, Refunding
ARB, Series A, AMT, Sustainability Bonds, 5.50%,
05/15/55
 
2,320
2,495,812
Indio Finance Authority, Refunding RB, Series A, (BAM),
4.50%, 11/01/52
 
2,405
2,440,944
Pleasanton Unified School District, GO, Election 2022,
4.25%, 08/01/50
 
5,300
5,321,577
Riverside County Transportation Commission, Refunding
RB, Class B1, Senior Lien, 4.00%, 06/01/46
 
2,255
2,060,831
San Marcos Unified School District, GO, CAB(c)
 
Series B, Election 2010, 0.00%, 08/01/33
 
3,000
2,397,407
Series B, Election 2010, 0.00%, 08/01/43
 
2,500
1,183,132
Washington Township Health Care District, GO, Series B,
Election 2004, 5.50%, 08/01/40
 
830
835,158
 
 
32,124,394
Colorado — 0.9%
Centerra Metropolitan District No. 1, TA, 5.00%,
12/01/47(b)
 
250
247,852
City & County of Denver Colorado Airport System
Revenue, Refunding ARB
 
Series A, AMT, 4.13%, 11/15/53
 
1,290
1,167,039
Series D, AMT, 5.75%, 11/15/45
 
1,315
1,419,776
Colorado Health Facilities Authority, RB
 
5.25%, 11/01/39
 
595
648,577
5.50%, 11/01/47
 
370
389,962
5.25%, 11/01/52
 
920
949,641
 
 
4,822,847
District of Columbia — 4.0%
District of Columbia Housing Finance Agency, RB, M/F
Housing, Series B-2, 4.10%, 09/01/39
 
2,370
2,348,211
District of Columbia Tobacco Settlement Financing Corp.,
Refunding RB, 6.75%, 05/15/40
 
8,110
8,364,254
District of Columbia, Refunding GO, Series A, 5.25%,
01/01/48
 
2,780
2,952,094
District of Columbia, Refunding RB, 5.00%, 10/01/48
 
1,315
1,298,122
District of Columbia, TA, 5.13%, 06/01/41
 
540
540,364
Metropolitan Washington Airports Authority Dulles Toll
Road Revenue, Refunding RB, Series B, Subordinate,
4.00%, 10/01/49
 
5,985
5,331,219
Washington Metropolitan Area Transit Authority
Dedicated Revenue, RB, Series A, Sustainability
Bonds, 4.13%, 07/15/47
 
1,285
1,234,793
 
 
22,069,057
Florida — 5.4%
Capital Trust Agency, Inc., RB(b)
 
Series A, 5.00%, 06/01/45
 
190
165,025
Series A, 5.50%, 06/01/57
 
100
87,181
Celebration Pointe Community Development District No.
1, SAB(d)(e)
 
5.00%, 05/01/32
 
180
144,000
5.00%, 05/01/48
 
530
424,000
City of Fort Lauderdale Florida Water & Sewer Revenue,
RB, Series B, 5.50%, 09/01/48
 
2,920
3,190,399
City of Tampa Florida, RB, CAB, Series A, 0.00%,
09/01/45(c)
 
6,275
2,390,360
County of Broward Florida Airport System Revenue,
ARB, Series A, AMT, 5.00%, 10/01/44
 
600
612,029
2
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock Municipal Income Trust II (BLE)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Florida (continued)
County of Pasco Florida, RB
 
(AGM), 5.00%, 09/01/48
$
5,085
$ 5,250,269
(AGM), 5.75%, 09/01/54
 
955
1,026,583
Florida Development Finance Corp., RB
 
Series A, 5.00%, 06/15/56
 
115
108,689
AMT, 5.00%, 05/01/29(b)
 
180
181,790
Florida State Board of Governors, RB, Series A, (BAM),
4.25%, 10/01/53
 
7,000
6,613,370
Hillsborough County Industrial Development Authority,
Refunding RB
 
Series C, 5.25%, 11/15/49
 
465
496,293
Series C, 4.13%, 11/15/51
 
2,050
1,916,368
Lakewood Ranch Stewardship District, SAB
 
5.25%, 05/01/37
 
180
182,903
5.38%, 05/01/47
 
185
185,992
6.30%, 05/01/54
 
475
501,192
Orange County Health Facilities Authority, Refunding RB,
Series A, 5.25%, 10/01/56
 
4,270
4,488,639
Osceola Chain Lakes Community Development District,
SAB
 
4.00%, 05/01/40
 
270
253,185
4.00%, 05/01/50
 
260
218,230
Stevens Plantation Community Development District,
SAB, Series A, 7.10%, 05/01/35(d)(e)
 
1,670
1,135,635
 
 
29,572,132
Georgia — 1.4%
East Point Business & Industrial Development Authority,
RB, Series A, 5.25%, 06/15/62(b)
 
435
285,402
Main Street Natural Gas, Inc., RB, Series B, 5.00%,
12/01/52(a)
 
5,000
5,251,860
Municipal Electric Authority of Georgia, RB, Series A,
5.00%, 07/01/52
 
1,870
1,895,678
Municipal Electric Authority of Georgia, Refunding RB,
Series A, 4.00%, 01/01/51
 
520
458,478
 
 
7,891,418
Hawaii — 0.1%
State of Hawaii Airports System Revenue, ARB, AMT,
5.25%, 08/01/26
 
810
811,512
Idaho — 1.4%
Idaho Health Facilities Authority, Refunding RB
 
(AGM-CR), 4.38%, 03/01/53
 
2,220
2,173,955
4.38%, 03/01/53
 
895
856,551
Idaho Housing & Finance Association, RB
 
(GTD), 5.50%, 05/01/52
 
1,250
1,280,588
Series A, 5.25%, 08/15/48
 
3,250
3,502,811
 
 
7,813,905
Illinois — 5.7%
Chicago Board of Education, GO
 
Series A, 5.00%, 12/01/40
 
535
517,418
Series A, 6.25%, 12/01/50
 
2,310
2,414,767
Series C, 5.25%, 12/01/35
 
945
944,983
Series D, 5.00%, 12/01/46
 
3,605
3,271,107
Series H, 5.00%, 12/01/36
 
645
641,502
Chicago Board of Education, Refunding GO
 
Series B, 12/01/43(f)
 
1,100
1,146,655
Series D, 5.00%, 12/01/27
 
1,600
1,619,559
Series G, 5.00%, 12/01/34
 
710
710,018
Chicago O’Hare International Airport, Refunding ARB,
Series A, AMT, Senior Lien, 5.00%, 01/01/48
 
1,000
1,003,291
Security
 
Par
(000)
Value
Illinois (continued)
Illinois Finance Authority, Refunding RB
 
Series A, 4.00%, 07/15/47
$
3,920
$ 3,577,376
Series C, 4.00%, 02/15/27(g)
 
45
45,786
Series C, 4.00%, 02/15/41
 
5
4,869
Illinois Housing Development Authority, RB, S/F Housing
 
Series G, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 6.25%, 10/01/52
 
2,780
2,980,693
Series N, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 6.25%, 04/01/54
 
1,660
1,805,116
Metropolitan Pier & Exposition Authority, RB
 
5.00%, 06/15/57
 
2,745
2,732,923
Series A, 5.50%, 06/15/53
 
280
280,063
Metropolitan Pier & Exposition Authority, RB, CAB(c)
 
(BAM-TCRS), 0.00%, 12/15/56
 
2,165
481,276
Series A, 0.00%, 12/15/56
 
3,020
641,451
Metropolitan Pier & Exposition Authority, Refunding RB
 
4.00%, 06/15/50
 
1,680
1,452,726
Series B, (AGM), 0.00%, 06/15/44(c)
 
8,680
3,720,392
State of Illinois, GO
 
Series B, 5.25%, 05/01/43
 
1,115
1,173,620
Series D, 5.00%, 11/01/28
 
505
524,799
 
 
31,690,390
Indiana — 0.4%
Indiana Finance Authority, Refunding RB
 
Series C, 5.25%, 10/01/46
 
1,440
1,553,579
Series C, 5.25%, 10/01/47
 
495
532,590
 
 
2,086,169
Kansas — 0.1%
City of Lenexa Kansas, Refunding RB, Series A, 5.00%,
05/15/43
 
400
394,151
Kentucky — 2.1%
Kentucky Public Energy Authority, RB, Series A-1,
4.00%, 08/01/52(a)
 
6,085
6,253,659
Kentucky Public Transportation Infrastructure Authority,
RB, CAB, Convertible, 6.75%, 07/01/43(h)
 
1,655
1,876,480
University of Kentucky, RB, Class A, 5.00%, 04/01/55
 
3,605
3,717,191
 
 
11,847,330
Louisiana — 1.0%
Louisiana Public Facilities Authority, RB, 5.25%,
10/01/53
 
2,705
2,702,136
Parish of East Baton Rouge Capital Improvements
District, RB, 5.00%, 08/01/46
 
1,370
1,446,729
Port New Orleans Board of Commissioners, ARB,
Series E, AMT, 5.00%, 04/01/44
 
1,485
1,508,536
 
 
5,657,401
Maryland — 0.3%
City of Baltimore Maryland, Refunding RB, Series A,
4.50%, 09/01/33
 
135
135,826
Maryland Economic Development Corp., RB, Class B,
AMT, Sustainability Bonds, 5.25%, 06/30/47
 
1,550
1,556,828
 
 
1,692,654
Massachusetts — 3.7%
Commonwealth of Massachusetts Transportation Fund
Revenue, RB, Series B, 5.00%, 06/01/52
 
1,875
1,948,797
Commonwealth of Massachusetts, GOL, Series D,
5.00%, 10/01/50
 
1,810
1,895,130
Massachusetts Development Finance Agency, RB,
Series A, 5.00%, 01/01/47
 
3,700
3,599,740
Schedule of Investments
3
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock Municipal Income Trust II (BLE)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Massachusetts (continued)
Massachusetts Development Finance Agency, Refunding
RB
 
(AGM), 5.50%, 07/01/50
$
4,770
$ 5,158,423
(AGM-CR), 5.50%, 07/01/55
 
2,860
3,090,333
(AGM), 5.50%, 07/01/55
 
2,545
2,768,712
Massachusetts Housing Finance Agency, Refunding RB,
Series A, AMT, 4.50%, 12/01/47
 
645
603,617
Massachusetts Port Authority, ARB, Series E, AMT,
5.00%, 07/01/46
 
1,220
1,244,229
 
 
20,308,981
Michigan — 0.6%
City of Detroit Michigan Water Supply System Revenue,
RB, Series B, 2nd Lien, (AGM), 6.25%, 07/01/36
 
5
5,012
Michigan Finance Authority, RB, Sustainability Bonds,
5.50%, 02/28/57
 
870
911,682
Michigan State Building Authority, Refunding RB,
Series I, 4.00%, 10/15/52
 
555
510,304
Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43
 
1,680
1,681,821
 
 
3,108,819
Minnesota — 1.8%
Duluth Economic Development Authority, Refunding RB
 
Series A, 4.25%, 02/15/48
 
5,685
5,308,317
Series A, 5.25%, 02/15/58
 
3,050
3,067,733
Minnesota Housing Finance Agency, RB, S/F Housing,
Series M, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 6.00%, 01/01/53
 
1,645
1,744,428
 
 
10,120,478
Mississippi — 0.2%
Mississippi Development Bank, RB, (AGM), 6.88%,
12/01/40
 
1,190
1,209,493
Missouri — 1.9%
Health & Educational Facilities Authority of the State of
Missouri, Refunding RB
 
Series A, 4.25%, 04/01/55
 
4,380
4,141,499
Series C, 4.00%, 11/15/49
 
3,455
3,085,166
Kansas City Industrial Development Authority, ARB
 
Class B, AMT, (AGM), 5.00%, 03/01/49
 
1,710
1,719,285
Class B, AMT, (AGM), 5.00%, 03/01/55
 
1,725
1,729,447
 
 
10,675,397
Nevada — 0.6%
Las Vegas Valley Water District, GOL, Series A, 5.25%,
06/01/55
 
3,145
3,370,629
New Hampshire — 1.4%
New Hampshire Business Finance Authority, RB
 
Series 2025-1, Class A1, 4.09%, 01/20/41(a)
 
826
822,703
Series A, Sustainability Bonds, 5.50%, 06/01/55
 
3,215
3,382,081
New Hampshire Business Finance Authority, RB, M/F
Housing
 
1st Series, Class B, 5.75%, 04/28/42
 
1,245
1,299,730
Series 2025, Subordinate, 5.15%, 09/28/37
 
1,950
1,972,470
 
 
7,476,984
New Jersey — 8.7%
New Jersey Economic Development Authority, RB
 
5.00%, 12/15/28(g)
 
1,375
1,477,304
5.00%, 06/15/43
 
2,335
2,403,369
Series EEE, 5.00%, 06/15/48
 
6,405
6,522,867
AMT, (AGM), 5.00%, 01/01/31
 
530
530,999
Security
 
Par
(000)
Value
New Jersey (continued)
New Jersey Economic Development Authority,
RB (continued)
 
AMT, 5.38%, 01/01/43
$
1,500
$ 1,501,342
New Jersey Economic Development Authority, Refunding
SAB
 
6.50%, 04/01/28
 
3,316
3,428,187
5.75%, 04/01/31
 
705
709,131
New Jersey Health Care Facilities Financing Authority,
RB, 4.00%, 07/01/51
 
4,980
4,590,127
New Jersey Higher Education Student Assistance
Authority, RB, Series C, AMT, Subordinate, 4.25%,
12/01/50
 
1,810
1,588,319
New Jersey Higher Education Student Assistance
Authority, Refunding RB
 
Series 1-B, AMT, 4.50%, 12/01/45
 
690
707,644
Sub-Series C, AMT, 3.63%, 12/01/49
 
665
513,032
New Jersey Transportation Trust Fund Authority, RB
 
5.00%, 12/15/28(g)
 
1,740
1,869,462
Series AA, 5.00%, 06/15/45
 
415
415,125
Series AA, 4.00%, 06/15/50
 
1,730
1,578,343
Series BB, 5.00%, 06/15/46
 
3,465
3,637,947
New Jersey Transportation Trust Fund Authority,
Refunding RB, Series A, 4.25%, 06/15/40
 
7,330
7,497,521
New Jersey Turnpike Authority, RB, Series A, 5.25%,
01/01/55
 
2,430
2,613,072
Tobacco Settlement Financing Corp., Refunding RB
 
Series A, 5.00%, 06/01/46
 
275
272,037
Series A, 5.25%, 06/01/46
 
3,835
3,844,713
Sub-Series B, 5.00%, 06/01/46
 
2,600
2,531,459
 
 
48,232,000
New Mexico — 0.0%
City of Santa Fe New Mexico, RB, Series A, 5.00%,
05/15/44
 
100
97,113
New York — 14.9%
Buffalo & Erie County Industrial Land Development
Corp., Refunding RB, Series A, 5.00%, 06/01/35
 
500
509,684
City of New York, GO, Series G-1, 5.25%, 02/01/53
 
445
474,205
Metropolitan Transportation Authority, Refunding RB
 
Series C-1, Sustainability Bonds, 5.00%, 11/15/26
 
65
66,443
Series C-1, Sustainability Bonds, 4.75%, 11/15/45
 
6,795
6,816,787
Series C-1, Sustainability Bonds, 5.00%, 11/15/50
 
575
584,682
Monroe County Industrial Development Corp., Refunding
RB, Series A, 4.00%, 07/01/50
 
1,760
1,601,211
New York City Municipal Water Finance Authority, RB,
Series BB, 5.25%, 06/15/55
 
1,075
1,151,029
New York City Municipal Water Finance Authority,
Refunding RB
 
Series DD, 4.13%, 06/15/46
 
825
803,604
Series DD, 4.13%, 06/15/47
 
7,920
7,695,386
New York City Transitional Finance Authority Future Tax
Secured Revenue, RB
 
Series A-1, Subordinate, 4.00%, 08/01/48
 
2,240
2,100,650
Series B-1, Subordinate, 4.00%, 08/01/48
 
2,500
2,321,982
Series E, Subordinate, 5.00%, 11/01/53
 
1,615
1,679,982
New York Counties Tobacco Trust IV, Refunding RB,
Series A, 6.25%, 06/01/41(b)
 
3,045
2,930,025
New York Liberty Development Corp., Refunding RB
 
Class 2, 5.38%, 11/15/40(b)
 
1,175
1,175,216
Series A, Sustainability Bonds, (BAM-TCRS), 3.00%,
11/15/51
 
1,270
932,810
4
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock Municipal Income Trust II (BLE)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
New York (continued)
New York Liberty Development Corp., Refunding
RB (continued)
 
Series A, Sustainability Bonds, 3.00%, 11/15/51
$
1,040
$ 751,519
New York State Dormitory Authority, Refunding RB
 
Class A, 5.25%, 05/01/54
 
4,800
4,998,838
Series A, 4.00%, 03/15/44
 
1,200
1,154,514
Series A, 4.00%, 03/15/47
 
2,910
2,740,570
Series A, 4.00%, 03/15/54
 
2,940
2,718,020
New York Transportation Development Corp., ARB
 
AMT, 5.63%, 04/01/40
 
1,050
1,102,546
AMT, 5.00%, 12/01/40
 
2,250
2,336,973
Series A, AMT, 5.00%, 07/01/46
 
1,600
1,593,021
AMT, Sustainability Bonds, (AGM), 6.00%, 06/30/60
 
2,310
2,496,888
New York Transportation Development Corp., RB
 
AMT, 5.00%, 10/01/35
 
1,910
1,998,000
AMT, 4.00%, 10/31/46
 
425
379,578
AMT, Sustainability Bonds, (AGM), 5.25%, 06/30/60
 
4,380
4,458,760
AMT, Sustainability Bonds, 5.50%, 06/30/60
 
2,525
2,577,951
New York Transportation Development Corp., Refunding
RB, Series A, AMT, Sustainability Bonds, (AGM),
5.25%, 12/31/54
 
3,430
3,531,827
Port Authority of New York & New Jersey, ARB,
Series 218, AMT, 4.00%, 11/01/47
 
380
348,744
Port Authority of New York & New Jersey, Refunding
ARB, Series 223, AMT, 4.00%, 07/15/41
 
1,150
1,125,117
Triborough Bridge & Tunnel Authority Sales Tax
Revenue, RB
 
Series A, 4.00%, 05/15/48
 
6,855
6,450,565
Series A, 5.25%, 05/15/52
 
900
950,424
Triborough Bridge & Tunnel Authority, RB, Series A-1,
4.00%, 11/15/54
 
2,590
2,384,233
Triborough Bridge & Tunnel Authority, Refunding RB,
Series C, 5.00%, 05/15/47
 
6,930
7,196,941
Westchester Tobacco Asset Securitization Corp.,
Refunding RB, Sub-Series C, 4.00%, 06/01/42
 
190
155,078
 
 
82,293,803
North Carolina — 0.4%
North Carolina Housing Finance Agency, RB, S/F
Housing, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 6.00%, 07/01/53
 
1,930
2,045,487
North Dakota — 0.9%
County of Cass North Dakota, Refunding RB, Series B,
5.25%, 02/15/58
 
1,035
1,041,018
North Dakota Housing Finance Agency, RB, S/F
Housing, Series C, Sustainability Bonds, 4.75%,
07/01/49
 
3,985
4,038,248
 
 
5,079,266
Ohio — 1.1%
Buckeye Tobacco Settlement Financing Authority,
Refunding RB
 
Series A-2, Class 1, 4.00%, 06/01/48
 
915
792,168
Series B-2, Class 2, 5.00%, 06/01/55
 
3,000
2,514,118
Columbus Regional Airport Authority, Refunding ARB,
Series A, Class A, AMT, 5.50%, 01/01/55
 
2,330
2,465,022
County of Franklin Ohio, RB, Series A, 5.00%, 12/01/47
 
435
438,201
 
 
6,209,509
Oklahoma — 0.8%
Oklahoma Development Finance Authority, RB, Series B,
5.50%, 08/15/52
 
1,640
1,646,404
Security
 
Par
(000)
Value
Oklahoma (continued)
Tulsa County Industrial Authority, Refunding RB, 5.25%,
11/15/45
$
1,435
$ 1,434,729
Tulsa Municipal Airport Trust Trustees, Refunding ARB,
AMT, 6.25%, 12/01/35
 
1,095
1,262,752
 
 
4,343,885
Oregon(c) — 0.2%
Clackamas County School District No. 12 North
Clackamas, GO, CAB
 
Series A, (GTD), 0.00%, 06/15/27(g)
 
155
90,691
Series A, (GTD), 0.00%, 06/15/38
 
1,290
732,683
 
 
823,374
Pennsylvania — 5.1%
Allegheny County Airport Authority, ARB, Series A, AMT,
(AGM), 5.50%, 01/01/48
 
535
564,256
City of Philadelphia Pennsylvania Water & Wastewater
Revenue, RB, Series C, (AGM), 5.25%, 09/01/54
 
5,165
5,526,403
Montgomery County Higher Education and Health
Authority, Refunding RB, 5.00%, 09/01/48
 
385
390,535
Montgomery County Industrial Development Authority,
RB, Series C, 5.00%, 11/15/45
 
205
205,078
Pennsylvania Economic Development Financing
Authority, RB
 
AMT, 5.75%, 06/30/48
 
1,405
1,464,856
AMT, 5.25%, 06/30/53
 
2,330
2,360,027
Pennsylvania Economic Development Financing
Authority, Refunding RB, AMT, 5.50%, 11/01/44
 
480
480,278
Pennsylvania Higher Educational Facilities Authority,
Refunding RB
 
5.50%, 08/15/55
 
1,565
1,701,236
Series B-1, (AGM), 4.25%, 11/01/51
 
4,635
4,281,963
Series B-1, (AGM), 5.00%, 11/01/51
 
1,075
1,110,856
Pennsylvania Turnpike Commission, RB
 
Sub-Series B-1, 5.25%, 06/01/47
 
2,500
2,539,588
Series A, Subordinate, 4.00%, 12/01/46
 
2,065
1,933,163
Philadelphia Authority for Industrial Development, RB
 
5.25%, 11/01/52
 
440
455,160
Series A, 4.00%, 07/01/49
 
3,000
2,792,656
Philadelphia Gas Works Co., Refunding RB, Series A,
5.25%, 08/01/49
 
2,420
2,567,539
 
 
28,373,594
Puerto Rico — 4.5%
Commonwealth of Puerto Rico, GO, Series A-1,
Restructured, 5.75%, 07/01/31
 
1,596
1,769,943
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB
 
Series A-1, Restructured, 4.75%, 07/01/53
 
3,475
3,285,619
Series A-1, Restructured, 5.00%, 07/01/58
 
14,276
13,865,432
Series A-2, Restructured, 4.78%, 07/01/58
 
3,256
3,061,931
Series B-2, Restructured, 4.78%, 07/01/58
 
159
149,523
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB, CAB, Series A-1, Restructured, 0.00%,
07/01/46(c)
 
6,943
2,416,390
 
 
24,548,838
South Carolina — 1.6%
South Carolina Jobs-Economic Development Authority,
RB
 
5.00%, 01/01/55(b)
 
335
277,728
Series A, 5.50%, 11/01/48
 
1,545
1,654,628
Series A, 5.50%, 11/01/49
 
4,200
4,487,259
Schedule of Investments
5
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock Municipal Income Trust II (BLE)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
South Carolina (continued)
South Carolina Jobs-Economic Development Authority,
RB (continued)
 
Series A, 5.50%, 11/01/50
$
330
$ 351,763
South Carolina Public Service Authority, Refunding RB
 
Series A, (AGM), 5.00%, 12/01/55
 
1,110
1,158,409
Series B, 5.00%, 12/01/51
 
675
688,938
 
 
8,618,725
Tennessee — 1.0%
Metropolitan Government Nashville & Davidson County
Health & Educational Fcilities Board, Refunding RB,
4.00%, 10/01/49
 
445
371,675
Metropolitan Government of Nashville & Davidson
County TN Water & Sewer Revenue, Refunding RB,
5.25%, 07/01/55
 
1,415
1,507,308
Tennergy Corp., RB, Series A, 5.50%, 10/01/53(a)
 
3,130
3,394,075
 
 
5,273,058
Texas — 11.2%
Arlington Higher Education Finance Corp., RB(b)
 
7.50%, 04/01/62
 
965
482,500
7.88%, 11/01/62
 
815
489,000
Celina Independent School District, GO, (PSF), 4.00%,
02/15/53
 
3,450
3,231,909
City of Austin Texas Water & Wastewater System
Revenue, Refunding RB, 5.00%, 11/15/53
 
1,420
1,497,333
City of Corpus Christi Texas Utility System Revenue,
Refunding RB, 4.13%, 07/15/53
 
2,550
2,362,787
City of Garland Texas Electric Utility System Revenue,
Refunding RB, (AGM), 4.25%, 03/01/48
 
425
414,731
City of Houston Texas Airport System Revenue, ARB
 
Series B, AMT, 5.50%, 07/15/36
 
200
219,849
Series B, AMT, 5.50%, 07/15/37
 
520
568,072
City of Houston Texas Airport System Revenue,
Refunding ARB, Series A, AMT, Subordinate Lien,
5.50%, 07/01/55
 
2,855
3,045,881
City of Houston Texas Airport System Revenue,
Refunding RB, AMT, 5.00%, 07/01/29
 
485
485,003
City of Houston Texas, GOL, Series A, 5.25%, 03/01/49
 
3,085
3,304,076
City of Houston Texas, Refunding GOL, Series A, 5.25%,
03/01/42
 
470
508,904
City of Hutto Texas, GOL, (BAM), 4.13%, 08/01/49
 
1,065
1,021,833
Clifton Higher Education Finance Corp., Refunding RB,
Series A, (PSF), 4.13%, 08/15/49
 
2,595
2,505,866
Conroe Independent School District, GO, (PSF), 4.00%,
02/15/50
 
1,375
1,288,247
County of Harris Texas Toll Road Revenue, Refunding
RB
 
Series A, 1st Lien, 4.00%, 08/15/49
 
2,215
2,080,918
Series A, 1st Lien, 4.00%, 08/15/54
 
1,580
1,453,910
County of Harris Texas, Refunding GO, Series A, 4.25%,
09/15/48
 
890
882,632
Harris County-Houston Sports Authority, Refunding RB,
Series A, Senior Lien, (AG NPFGC), 0.00%,
11/15/38(c)
 
4,750
2,364,053
Longview Independent School District, GO, (PSF),
4.00%, 02/15/49
 
2,515
2,381,309
Midland County Fresh Water Supply District No. 1, RB,
CAB, Series A, 0.00%, 09/15/27(c)(g)
 
10,540
6,052,190
New Hope Cultural Education Facilities Finance Corp.,
RB
 
Series A, 5.50%, 08/15/49
 
3,365
3,692,590
Security
 
Par
(000)
Value
Texas (continued)
New Hope Cultural Education Facilities Finance Corp.,
RB (continued)
 
Series A, 5.00%, 08/15/50(b)
$
180
$ 153,053
North Texas Tollway Authority, RB, Series B, 0.00%,
09/01/31(c)(g)
 
640
343,379
North Texas Tollway Authority, Refunding RB, 4.25%,
01/01/49
 
2,340
2,179,500
Northwest Independent School District, GO, (PSF),
5.25%, 02/15/55
 
1,550
1,655,921
Port Authority of Houston of Harris County Texas, ARB,
5.00%, 10/01/51
 
1,505
1,551,077
Tarrant County Cultural Education Facilities Finance
Corp., RB, 5.00%, 11/15/51
 
1,280
1,319,334
Tarrant Regional Water District, RB, 4.25%, 09/01/55
 
1,405
1,350,551
Texas City Industrial Development Corp., RB,
Series 2012, 4.13%, 12/01/45
 
95
84,249
Texas Department of Housing & Community Affairs, RB,
S/F Housing, Series C, (GNMA), 5.00%, 09/01/48
 
3,650
3,732,431
Texas State University System, Refunding RB, 4.00%,
03/15/49
 
4,690
4,301,923
Texas Transportation Commission State Highway
249 System, RB, CAB(c)
 
0.00%, 08/01/40
 
500
251,761
0.00%, 08/01/41
 
2,000
949,131
0.00%, 08/01/42
 
2,345
1,051,860
Texas Water Development Board, RB, 4.45%, 10/15/36
 
675
723,964
Waller Consolidated Independent School District, GO,
Series A, (PSF), 4.00%, 02/15/48
 
1,710
1,636,845
 
 
61,618,572
Utah — 1.5%
Black Desert Public Infrastructure District, SAB, 5.63%,
12/01/53(b)
 
305
308,091
City of Salt Lake City Utah Airport Revenue, ARB,
Series A, AMT, 5.00%, 07/01/43
 
1,790
1,813,048
Downtown Revitalization Public Infrastructure District, RB
 
Series A, 1st Lien, (AGM), 5.50%, 06/01/55
 
1,455
1,567,316
Series B, 2nd Lien, (AGM), 5.50%, 06/01/50
 
3,450
3,745,278
Series B, 2nd Lien, (AGM), 5.50%, 06/01/55
 
515
554,339
Utah Charter School Finance Authority, RB, 5.00%,
06/15/39(b)
 
100
96,472
Utah Charter School Finance Authority, Refunding RB,
5.00%, 06/15/40(b)
 
135
130,989
 
 
8,215,533
Virginia — 1.4%
Ballston Quarter Community Development Authority, TA,
Series A-1, 5.50%, 03/01/46
 
416
415,460
Ballston Quarter Community Development Authority, TA,
CAB, Series A-2, 7.13%, 03/01/59(h)
 
997
879,670
Henrico County Economic Development Authority,
Refunding RB, Series A, 5.00%, 11/01/48
 
1,485
1,546,037
Tobacco Settlement Financing Corp., Refunding RB,
Series B-1, 5.00%, 06/01/47
 
1,010
846,385
Virginia Housing Development Authority, RB, M/F
Housing
 
Series A, 4.60%, 09/01/49
 
2,330
2,329,844
Series G, 5.05%, 11/01/47
 
1,825
1,871,273
 
 
7,888,669
6
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock Municipal Income Trust II (BLE)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Washington — 0.5%
Washington Health Care Facilities Authority, Refunding
RB, Series A, 5.50%, 09/01/55
$
435
$ 461,975
Washington State Housing Finance Commission,
Refunding RB, 5.00%, 01/01/43(b)
 
2,165
2,011,988
 
 
2,473,963
West Virginia — 0.1%
City of Martinsburg West Virginia, RB, M/F Housing,
Series A-1, 4.63%, 12/01/43
 
570
562,732
Wisconsin — 3.2%
Public Finance Authority, RB
 
Series A, 5.00%, 07/01/55(b)
 
120
102,976
Series A-1, 4.50%, 01/01/35(b)
 
190
186,043
AMT, 6.50%, 12/31/65
 
5,110
5,612,253
AMT, Sustainability Bonds, 4.00%, 09/30/51
 
5,615
4,658,246
AMT, Sustainability Bonds, 4.00%, 03/31/56
 
1,835
1,484,891
Public Finance Authority, Refunding RB, 5.00%,
09/01/49(b)
 
120
110,524
Wisconsin Health & Educational Facilities Authority,
Refunding RB, 4.00%, 12/01/51
 
3,280
2,865,219
Wisconsin Housing & Economic Development Authority
Home Ownership Revenue, RB, S/F Housing
 
Series A, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 4.85%, 09/01/43
 
720
737,711
Series C, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 4.75%, 03/01/51
 
2,075
2,083,000
 
 
17,840,863
Total Municipal Bonds — 103.8%
(Cost: $560,526,821)
572,707,152
Municipal Bonds Transferred to Tender Option Bond Trusts(i)
Alabama(a) — 3.8%
Black Belt Energy Gas District, RB
 
Series B, 5.25%, 12/01/53
 
12,500
13,571,584
Series C-1, 5.25%, 02/01/53
 
6,702
7,144,792
 
 
20,716,376
California — 2.0%
California Community Choice Financing Authority, RB,
Series E-1, Sustainability Bonds, 5.00%, 02/01/54(a)
 
10,000
10,796,026
Colorado — 1.5%
City & County of Denver Colorado Airport System
Revenue, Refunding ARB, Series A, AMT, 5.50%,
11/15/53
 
7,685
8,109,151
District of Columbia — 6.1%
District of Columbia Income Tax Revenue, Refunding
RB, Series A, 5.25%, 06/01/50
 
10,360
11,194,949
Metropolitan Washington Airports Authority Aviation
Revenue, Refunding ARB, Series A, AMT, 5.50%,
10/01/54
 
11,620
12,296,260
Washington Metropolitan Area Transit Authority
Dedicated Revenue, RB, Series A, 2nd Lien, 5.50%,
07/15/60
 
9,280
10,087,784
 
 
33,578,993
Florida — 5.9%
City of Melbourne Florida Water & Sewer Revenue, RB,
5.00%, 11/15/50
 
6,910
7,236,538
Security
 
Par
(000)
Value
Florida (continued)
County of Miami-Dade Florida Aviation Revenue,
Refunding ARB, Series A, AMT, 5.25%, 10/01/50
$
6,150
$ 6,455,879
Greater Orlando Aviation Authority, ARB, AMT, 5.25%,
10/01/51
 
10,380
10,912,384
Tender Opt Bd Tr Rcpts, 5.25%, 10/01/55
 
7,420
7,911,708
 
 
32,516,509
Michigan — 2.4%
Michigan State Housing Development Authority, RB, M/F
Housing, Series A, 5.00%, 10/01/48
 
12,964
13,333,126
Missouri — 1.2%
Missouri Housing Development Commission, RB, S/F
Housing, Series E, 4.60%, 11/01/49
 
6,920
6,861,341
Nebraska — 1.0%
Central Plains Energy Project, RB, Series 1, 5.00%,
05/01/53(a)
 
5,240
5,526,856
New Jersey — 1.0%
New Jersey Turnpike Authority, RB, Series B, 5.25%,
01/01/49
 
5,395
5,781,576
New York — 13.6%
City of New York, GO, Series B, 5.25%, 10/01/47
 
6,560
6,913,557
New York City Housing Development Corp., RB, M/F
Housing, Series E-1, Sustainability Bonds, 4.70%,
11/01/48(j)
 
5,540
5,592,577
New York City Transitional Finance Authority Future Tax
Secured Revenue, RB
 
Series C, 5.25%, 05/01/48
 
9,510
10,089,113
Series C-1, Subordinate, 5.00%, 05/01/50
 
4,736
4,941,324
Series H-1, Subordinate, 5.00%, 11/01/50
 
3,060
3,198,340
New York State Dormitory Authority, Refunding RB
 
Series A, 5.00%, 03/15/47(j)
 
10,370
10,926,473
Series A, 5.00%, 03/15/53(j)
 
6,971
7,276,738
Series E, 5.00%, 03/15/46
 
8,820
9,038,850
Port Authority of New York & New Jersey, ARB,
Series 221, AMT, 4.00%, 07/15/55
 
2,820
2,533,408
Port Authority of New York & New Jersey, Refunding
ARB, AMT, 5.00%, 01/15/47(j)
 
8,640
8,904,024
Triborough Bridge & Tunnel Authority, RB, Series A,
5.50%, 11/15/57
 
5,339
5,713,221
 
 
75,127,625
Oregon — 2.2%
Port of Portland Oregon Airport Revenue, Refunding
ARB, Series 29, AMT, Sustainability Bonds, 5.50%,
07/01/48
 
11,628
12,378,366
Pennsylvania — 4.8%
Pennsylvania Housing Finance Agency, RB, S/F Housing
 
Series 143A, Sustainability Bonds, 6.25%, 10/01/53
 
10,191
11,049,162
Series 145A, Sustainability Bonds, 4.75%, 10/01/49
 
8,620
8,658,733
Series 147 A, Sustainability Bonds, 4.70%, 10/01/49(j)
 
6,750
6,798,171
 
 
26,506,066
South Carolina — 1.0%
Patriots Energy Group Financing Agency, Refunding RB,
Series B-1, 5.25%, 02/01/54(a)
 
4,842
5,266,411
Texas — 8.7%
Austin Community College District, Refunding GOL,
5.25%, 08/01/55
 
11,740
12,478,014
Schedule of Investments
7
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock Municipal Income Trust II (BLE)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Texas (continued)
City of Houston Texas Airport System Revenue,
Refunding ARB, Series A, AMT, Subordinate Lien,
5.50%, 07/01/55
$
14,377
$ 15,338,174
City of San Antonio Texas Electric & Gas Systems
Revenue, Refunding RB, Series A, 5.25%, 02/01/49
 
6,702
7,189,818
North Texas Municipal Water District, RB, 5.00%,
06/01/50(j)
 
5,198
5,412,143
Terrell Independent School District, GO, (PSF), 5.25%,
08/01/55
 
7,180
7,708,006
 
 
48,126,155
Utah — 1.7%
City of Salt Lake City Utah Airport Revenue, ARB,
Series A, AMT, 5.50%, 07/01/53(j)
 
9,063
9,570,671
Washington — 3.4%
Port of Seattle Washington, Refunding ARB
 
Series B, AMT, Intermediate Lien, 5.25%, 07/01/49
 
6,240
6,571,811
Series C, AMT, 5.00%, 08/01/46
 
12,100
12,368,618
 
 
18,940,429
Wisconsin — 1.1%
Wisconsin Housing & Economic Development Authority
Housing Revenue, RB, M/F Housing
 
Series A, 4.10%, 11/01/43
 
2,658
2,637,911
Series A, 4.45%, 05/01/57
 
3,322
3,297,389
 
 
5,935,300
Total Municipal Bonds Transferred to Tender Option Bond
Trusts — 61.4%
(Cost: $330,513,816)
339,070,977
Total Long-Term Investments — 165.2%
(Cost: $891,040,637)
911,778,129
 
 
 
 
Shares
 
Short-Term Securities
Money Market Funds — 0.3%
BlackRock Liquidity Funds, MuniCash, Institutional
Shares, 3.01%(k)(l)
 
1,488,704
1,488,853
Total Short-Term Securities — 0.3%
(Cost: $1,488,853)
1,488,853
Total Investments — 165.5%
(Cost: $892,529,490)
913,266,982
Other Assets Less Liabilities — 3.3%
18,511,201
Liability for TOB Trust Certificates, Including Interest Expense and
Fees Payable — (37.3)%
(205,770,634
)
VMTP Shares at Liquidation Value, Net of Deferred Offering Costs —
(31.5)%
(174,100,000
)
Net Assets Applicable to Common Shares — 100.0%
$  551,907,549
 
(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)
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)
Issuer filed for bankruptcy and/or is in default.
(e)
Non-income producing security.
(f)
When-issued 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)
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.
(i)
Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates
received by the Fund. These bonds serve as collateral in a secured borrowing.
(j)
All or a portion of the security is subject to a recourse agreement. The aggregate
maximum potential amount the Fund could ultimately be required to pay under the
agreements, which expire between July 1, 2031 to October 1, 2042, is $48,163,478.
(k)
Affiliate of the Fund.
(l)
Annualized 7-day yield as of period end.
8
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock Municipal Income Trust II (BLE)
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
07/31/25
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain (Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
10/31/25
Shares
Held at
10/31/25
Income
Capital Gain
Distributions
from
Underlying
Funds
BlackRock Liquidity Funds, MuniCash, Institutional Shares
$ —
$ 1,488,853
(a)
$ —
$ —
$ —
$ 1,488,853
1,488,704
$ 430
$ —
 
(a)
Represents net amount purchased (sold).
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments at the measurement date. 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 that the Fund has the ability to access for identical assets or liabilities;
• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and
• Level 3 – Inputs that are unobservable and significant to the  entire fair value measurement for the asset or liability (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 that may not have a secondary market and/or may have 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 Fund’s policy regarding valuation of financial instruments, refer to its most recent 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
Investments 
Long-Term Investments 
Municipal Bonds
$ —
$ 572,707,152
$ —
$ 572,707,152
Municipal Bonds Transferred to Tender Option Bond Trusts
—
339,070,977
—
339,070,977
Short-Term Securities 
Money Market Funds
1,488,853
—
—
1,488,853
 
$1,488,853
$911,778,129
$—
$913,266,982
The Fund 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
$—
$(204,802,207
)
$—
$(204,802,207
)
VMTP Shares at Liquidation Value
—
(174,100,000
)
—
(174,100,000
)
 
$—
$(378,902,207
)
$—
$(378,902,207
)
 
Portfolio Abbreviation 
AGM
 Assured Guaranty Municipal Corp.
AGM-CR
 AGM Insured Custodial Receipt
Portfolio Abbreviation (continued)
AMT
 Alternative Minimum Tax
ARB
 Airport Revenue Bonds
Schedule of Investments
9
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock Municipal Income Trust II (BLE)
 
Portfolio Abbreviation (continued)
BAM
 Build America Mutual Assurance Co.
BAM-TCRS
 Build America Mutual Assurance Co. - Transferable
Custodial Receipts
CAB
 Capital Appreciation Bonds
CR
 Custodian Receipt
FHLMC
 Federal Home Loan Mortgage Corp.
FNMA
 Federal National Mortgage Association
GNMA
 Government National Mortgage Association
GO
 General Obligation Bonds
GOL
 General Obligation Ltd.
GTD
 GTD Guaranteed
M/F
 Multi-Family
NPFGC
 National Public Finance Guarantee Corp.
PSF
 Permanent School Fund
RB
 Revenue Bonds
S/F
 Single-Family
SAB
 Special Assessment Bonds
SAN
 State Aid Notes
TA
 Tax Allocation
10