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April 30, 2026 
2026 Quarterly Report
(Unaudited)
 
BlackRock Municipal 2030 Target Term Trust (BTT)
 
Not FDIC Insured • May Lose Value • No Bank Guarantee
Schedule of Investments (unaudited)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
 
Security
 
Par
(000)
Value
Municipal Bonds
Alabama — 10.6%
Alabama Economic Settlement Authority, RB, Series A,
4.00%, 09/15/33
$
5,000
$ 5,000,833
Alabama Public School and College Authority,
Refunding RB, Series A, Sustainability Bonds,
5.00%, 11/01/30
 
11,900
13,075,685
Baldwin County Industrial Development Authority,
RB(a)(b)
 
4.30%, 03/01/56
 
5,000
4,900,704
Series A, AMT, 5.00%, 06/01/55
 
5,000
5,108,278
Birmingham-Jefferson Civic Center Authority, ST
 
Series A, 5.00%, 07/01/31
 
1,100
1,145,921
Series A, 5.00%, 07/01/32
 
1,150
1,196,281
Series A, 5.00%, 07/01/33
 
1,600
1,661,837
Black Belt Energy Gas District, RB
 
Series A, 5.00%, 05/01/30
 
4,380
4,431,841
Series A, 5.25%, 01/01/54(a)
 
10,000
10,630,426
Series A, 5.25%, 05/01/55(a)
 
2,005
2,080,130
Series B, 5.25%, 12/01/53(a)
 
3,500
3,760,543
Series E, 5.00%, 05/01/30
 
1,675
1,756,407
Series E, 5.00%, 07/01/30
 
600
628,090
Series E, 5.00%, 07/01/33
 
5,670
5,955,460
Series F, 5.00%, 12/01/30
 
1,210
1,277,130
County of Jefferson Alabama Sewer Revenue,
Refunding RB, 5.00%, 10/01/30
 
2,500
2,705,008
Energy Southeast A Cooperative District, RB, Series B,
5.25%, 07/01/54(a)
 
3,095
3,304,060
Health Care Authority of the City of Huntsville,
Refunding RB, Series A, 5.00%, 06/01/53(a)
 
20,000
21,354,952
Homewood Educational Building Authority, Refunding
RB
 
5.00%, 12/01/33
 
1,010
1,018,547
5.00%, 12/01/34
 
1,380
1,390,602
Hoover Industrial Development Board, RB, AMT,
Sustainability Bonds, 6.38%, 11/01/50(a)
 
1,965
2,170,473
Industrial Development Board of the City of Mobile
Alabama, RB, 2.75%, 07/15/34(a)
 
1,625
1,609,962
Orange Beach Water Sewer & Fire
Protection Authority, RB, 4.00%, 05/15/30
 
510
532,717
Southeast Energy Authority A Cooperative District, RB
 
Series A, 5.00%, 01/01/56(a)
 
1,230
1,259,389
Series A-2, 4.85%, 01/01/53(a)
 
30,265
31,493,108
Series B-1, 5.00%, 05/01/53(a)
 
9,375
9,695,355
Series E, 5.00%, 10/01/30
 
25,000
26,717,470
 
 
165,861,209
Arizona — 1.2%
Arizona Industrial Development Authority, RB(b)
 
4.00%, 07/01/29
 
465
461,670
4.50%, 07/01/29
 
555
555,048
Series A, 4.00%, 07/01/29
 
2,935
2,922,577
Sustainability Bonds, 4.00%, 07/01/30
 
410
399,414
Chandler Industrial Development Authority, RB(a)
 
AMT, 4.10%, 12/01/37
 
3,570
3,604,539
AMT, 4.00%, 06/01/49
 
5,000
5,048,906
Security
 
Par
(000)
Value
Arizona (continued)
Maricopa County Industrial Development Authority,
Refunding RB
 
4.00%, 07/01/29(b)
$
820
$ 821,820
5.00%, 01/01/31
 
4,280
4,344,224
 
 
18,158,198
California — 14.5%
Alameda Corridor Transportation Authority, Refunding
RB, Series A, Sub Lien, (AGM), 0.00%, 10/01/30(c)
 
10,530
9,167,402
Bay Area Toll Authority, RB, Class A, 4.87%,
04/01/36(a)
 
3,000
3,010,195
Bay Area Toll Authority, Refunding RB, Series E,
4.03%, 04/01/56(a)
 
3,250
3,226,968
California Community Choice Financing Authority, RB(a)
 
Sustainability Bonds, 4.38%, 12/01/53
 
6,750
6,879,599
Sustainability Bonds, 5.50%, 10/01/54
 
2,465
2,691,068
Series E-2, Sustainability Bonds, 4.10%, 02/01/54
 
9,780
9,927,693
Series G, Sustainability Bonds, 5.25%, 11/01/54
 
19,785
20,949,636
California Health Facilities Financing Authority, RB,
Series A, 5.00%, 11/15/32
 
1,600
1,653,496
California Housing Finance Agency, RB, M/F Housing
 
3.60%, 12/01/26(a)(d)
 
23,400
23,391,110
Series 2021-1, Class A, 3.50%, 11/20/35
 
3,454
3,433,364
California Infrastructure & Economic Development
Bank, Refunding RB, Class B, AMT, Sustainability
Bonds, 12.00%, 01/01/65(a)(b)
 
4,130
2,395,400
California Municipal Finance Authority, ARB, AMT,
Senior Lien, 5.00%, 12/31/33
 
4,000
4,123,152
California Municipal Finance Authority, Refunding RB
 
Series A, 5.00%, 07/01/30
 
1,200
1,220,582
Series A, 5.00%, 07/01/31
 
1,050
1,067,166
California Pollution Control Financing Authority, RB
 
5.00%, 07/01/27(b)
 
3,775
3,783,139
Series A, AMT, 4.25%, 11/01/38(a)
 
8,350
8,601,327
California School Finance Authority, RB(b)
 
5.00%, 06/01/30
 
490
488,377
Series A, 5.00%, 06/01/29
 
130
130,094
Series A, 4.00%, 06/01/31
 
240
185,776
Series A, 5.00%, 06/01/32
 
900
908,964
City of Long Beach California Harbor Revenue, ARB,
Series A, AMT, 5.00%, 05/15/34
 
1,650
1,680,654
City of Los Angeles Department of Airports, ARB, AMT,
Sustainability Bonds, 5.00%, 05/15/30
 
13,250
14,289,522
Compton Unified School District, GO, CAB(c)
 
Series B, (BAM), 0.00%, 06/01/33
 
1,000
781,885
Series B, (BAM-TCRS), 0.00%, 06/01/34
 
1,125
842,483
Series B, (AGM), 0.00%, 06/01/35
 
1,000
715,732
Series B, (BAM-TCRS), 0.00%, 06/01/36
 
1,000
683,219
El Camino Community College District Fountation, GO,
CAB(c)
 
Series C, Election 2002, 0.00%, 08/01/30
 
9,090
8,081,732
Series C, Election 2002, 0.00%, 08/01/31
 
12,465
10,724,146
Series C, Election 2002, 0.00%, 08/01/32
 
15,435
12,824,054
Monterey Peninsula Community College District,
Refunding GO, CAB(c)
 
0.00%, 08/01/30
 
3,500
3,058,810
0.00%, 08/01/31
 
5,940
5,003,235
M-S-R Energy Authority, RB, Series C, 6.13%,
11/01/29
 
1,640
1,724,782
2
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
California (continued)
Norman Y Mineta San Jose International Airport SJC,
Refunding RB
 
Series A, AMT, 5.00%, 03/01/30
$
500
$ 507,547
Series A, AMT, 5.00%, 03/01/31
 
1,500
1,521,821
Series A, AMT, 5.00%, 03/01/32
 
1,000
1,013,973
Series A, AMT, 5.00%, 03/01/33
 
975
988,029
Series A, AMT, 5.00%, 03/01/34
 
1,250
1,265,925
Northern California Energy Authority, Refunding RB,
5.00%, 12/01/54(a)
 
23,035
24,283,485
Poway Unified School District, GO(c)
 
Series 1-A, Election 2008, 0.00%, 08/01/30
 
10,000
8,912,395
Series 1-A, Election 2008, 0.00%, 08/01/32
 
7,500
6,253,958
San Diego County Regional Airport Authority, ARB,
Sub-Series B, AMT, 5.00%, 07/01/33
 
1,000
1,019,257
San Rafael City Elementary School District, GO,
Series C, Election 2002, (GTD STD LNS), 0.00%,
08/01/30(c)
 
6,350
5,626,759
Washington Township Health Care District, Refunding
RB, Series B, 3.00%, 07/01/28
 
750
739,073
Wiseburn School District, GO, Series A, Election 2007,
(SAW), 0.00%, 08/01/30(c)
 
7,505
6,669,745
 
 
226,446,729
Colorado — 4.5%
City & County of Denver Colorado Airport System
Revenue, Refunding ARB
 
Series A, AMT, 5.00%, 12/01/30
 
12,780
13,796,119
Series A, AMT, 5.00%, 12/01/33
 
25,000
26,061,482
City & County of Denver Colorado Pledged Excise Tax
Revenue, RB, CAB, Series A-2, 0.00%, 08/01/30(c)
 
1,000
849,937
City & County of Denver Colorado, Refunding RB,
AMT, 5.00%, 10/01/32
 
2,500
2,502,131
Colorado Educational & Cultural Facilities Authority,
Refunding RB, 4.00%, 12/01/30(b)
 
830
810,621
Colorado Health Facilities Authority, RB
 
5.00%, 11/01/30
 
1,000
1,077,092
Class A, 5.00%, 11/15/60(a)
 
9,560
10,314,119
Series B, 2.63%, 05/15/29
 
1,490
1,482,918
Series D, 4.17%, 05/15/61(a)
 
7,000
6,999,019
Colorado Health Facilities Authority, Refunding RB,
Series A, 4.00%, 08/01/37
 
3,000
2,998,562
E-470 Public Highway Authority, Refunding RB,
Series B, 3.19%, 09/01/39(a)
 
3,160
3,157,411
 
 
70,049,411
Connecticut — 0.4%
Capital Region Development Authority, Refunding RB,
(AGM), 5.00%, 06/15/31
 
1,125
1,176,513
Connecticut State Health & Educational Facilities
Authority, RB, Series A, 5.00%, 01/01/30(b)
 
240
241,486
Connecticut State Health & Educational Facilities
Authority, Refunding RB
 
Series G-1, 5.00%, 07/01/27(b)
 
225
227,129
Series G-1, 5.00%, 07/01/28(b)
 
300
305,499
Series G-1, 5.00%, 07/01/29(b)
 
300
307,636
Series G-1, 5.00%, 07/01/34(b)
 
355
360,414
Series I-1, 5.00%, 07/01/35
 
400
407,576
State of Connecticut, GO, Series A, 5.00%, 04/15/33
 
3,600
3,743,847
 
 
6,770,100
Delaware — 0.4%
County of Kent Delaware, RB
 
Series A, 5.00%, 07/01/26
 
850
850,832
Series A, 5.00%, 07/01/27
 
890
897,671
Security
 
Par
(000)
Value
Delaware (continued)
County of Kent Delaware, RB (continued)
 
Series A, 5.00%, 07/01/28
$
935
$ 947,590
Delaware State Health Facilities Authority, RB, 4.00%,
06/01/35
 
1,370
1,340,442
Delaware Transportation Authority, Refunding RB,
5.00%, 09/01/30
 
2,000
2,186,383
 
 
6,222,918
District of Columbia — 1.6%
District of Columbia Housing Finance Agency, RB, M/F
Housing, Series A-2, 3.60%, 03/01/46(a)
 
5,500
5,520,978
Metropolitan Washington Airports Authority Aviation
Revenue, Refunding ARB, Series A, AMT, 5.00%,
10/01/30
 
18,325
19,796,701
 
 
25,317,679
Florida — 9.3%
Ave Maria Stewardship Community District, SAB,
4.00%, 05/01/30
 
465
463,075
Bella Tara Community Development District, SAB,
5.00%, 05/01/30
 
885
882,046
Capital Projects Finance Authority, RB, Series A-1,
5.00%, 10/01/30
 
1,000
1,055,358
Capital Trust Agency, Inc., RB(b)
 
Series A, 4.00%, 06/15/29
 
940
925,929
Series A-1, 3.38%, 07/01/31
 
1,420
1,361,818
Capital Trust Authority, Refunding RB, Series A, (SAW),
5.00%, 12/01/30
 
12,000
13,065,905
Center Lake Ranch West Community Development
District, SAB, 4.00%, 05/01/30(b)
 
225
224,479
City of Lakeland Florida, Refunding RB, 5.00%,
11/15/30
 
3,750
3,782,968
City Of South Miami Health Facilities Authority, Inc.,
RB, 5.00%, 08/15/65(a)
 
3,000
3,251,525
City Of South Miami Health Facilities Authority, Inc.,
Refunding RB
 
5.00%, 08/15/30
 
3,245
3,332,644
5.00%, 08/15/31
 
3,130
3,212,139
5.00%, 08/15/34
 
6,475
6,629,790
Connerton EaSt. Community Development District,
SAB, 4.00%, 06/15/30
 
205
205,866
County of Lee Florida Airport Revenue, ARB,
Series A-2, AMT, 5.00%, 10/01/56(a)
 
475
510,555
County of Miami-Dade Florida Aviation Revenue,
Refunding RB, Series A, AMT, 5.00%, 10/01/30
 
4,285
4,618,105
County of Miami-Dade Florida, Refunding RB
 
Series B, 4.00%, 04/01/30
 
12,305
12,310,805
Series B, 4.00%, 04/01/32
 
6,690
6,692,602
County of St. Johns Florida Water & Sewer Revenue,
Refunding RB, CAB(c)
 
Series B, 0.00%, 06/01/30
 
2,000
1,751,480
Series B, 0.00%, 06/01/31
 
1,295
1,091,260
Series B, 0.00%, 06/01/32
 
2,495
2,019,534
Double Branch Community Development District,
Refunding SAB, Series A-1, Senior Lien, 4.13%,
05/01/31
 
1,020
1,020,053
Firethorn Community Development District, SAB,
4.10%, 05/01/30
 
385
384,672
Florida Development Finance Corp., RB
 
AMT, 5.00%, 05/01/29(b)
 
1,500
1,511,257
AMT, 3.00%, 06/01/32
 
2,665
2,482,746
AMT, 4.45%, 07/01/37(a)(b)
 
8,000
8,145,100
Florida Development Finance Corp., Refunding RB
 
4.00%, 06/01/26(b)
 
110
109,992
Schedule of Investments
3
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Florida (continued)
Florida Development Finance Corp., Refunding
RB (continued)
 
4.00%, 09/15/30(b)
$
430
$ 419,888
AMT, 5.00%, 07/01/34
 
2,500
1,800,000
AMT, (PSF), 5.00%, 07/01/44
 
4,685
4,558,790
Greater Orlando Aviation Authority, ARB, AMT, 5.25%,
11/01/34
 
2,500
2,648,586
Harvest Hills South Community Development District,
SAB, 4.25%, 05/01/30
 
300
299,855
Hillsborough County Aviation Authority, ARB
 
AMT, 5.00%, 10/01/30
 
2,325
2,515,722
Class B, AMT, 5.00%, 10/01/30
 
9,145
9,895,172
Lakewood Ranch Stewardship District, Refunding SAB,
3.20%, 05/01/30(b)
 
440
433,606
Lakewood Ranch Stewardship District, SAB, 5.40%,
05/01/28
 
540
550,273
Lakewood Ranch Stewardship District, SAB, S/F
Housing, 3.40%, 05/01/30
 
305
302,821
Lee County Industrial Development Authority, RB,
Series B-3, 4.13%, 11/15/29
 
3,415
3,418,423
LT Ranch Community Development District, SAB,
3.40%, 05/01/30
 
805
795,410
Miami Beach Health Facilities Authority, Refunding RB,
5.00%, 11/15/30
 
1,000
1,001,144
New Port Corners Community Development District,
SAB, 4.00%, 06/15/30(b)
 
190
189,737
Palm Beach County Health Facilities Authority,
Refunding RB, 5.00%, 11/15/32
 
18,130
18,270,116
Sarasota National Community Development District,
Refunding SAB, 3.50%, 05/01/31
 
850
850,120
School Board of Miami-Dade County, Refunding COP,
Series A, 5.00%, 05/01/32
 
9,000
9,009,753
St. Johns County Industrial Development Authority,
Refunding RB
 
4.00%, 12/15/28
 
200
199,467
4.00%, 12/15/29
 
215
213,980
4.00%, 12/15/30
 
195
193,421
4.00%, 12/15/31
 
205
202,281
Tolomato Community Development District, Refunding
SAB, Sub-Series A-2, 3.85%, 05/01/29
 
335
336,866
Village Community Development District No. 15, SAB,
4.25%, 05/01/28(b)
 
350
353,109
Village Community Development District No. 16, SAB,
3.55%, 05/01/30
 
1,050
1,050,156
Village Community Development District No. 5,
Refunding SAB
 
3.50%, 05/01/28
 
1,760
1,751,748
4.00%, 05/01/33
 
940
931,215
4.00%, 05/01/34
 
1,785
1,759,638
 
 
144,993,000
Georgia — 6.5%
Atlanta Urban Residential Finance Authority, RB, M/F
Housing, (AGM), 3.15%, 12/01/29(a)
 
3,550
3,558,090
DeKalb County Housing Authority, RB, M/F Housing,
Series A, 4.00%, 12/01/33
 
6,870
6,945,260
DeKalb County Housing Authority, Refunding RB,
4.13%, 12/01/34
 
1,460
1,455,160
Georgia Ports Authority, ARB, 5.00%, 07/01/30
 
1,175
1,286,473
Main Street Natural Gas, Inc., RB
 
Series A, 5.00%, 05/15/29
 
1,250
1,306,255
Security
 
Par
(000)
Value
Georgia (continued)
Main Street Natural Gas, Inc., RB (continued)
 
Series A, 5.00%, 05/15/30
$
8,000
$ 8,337,122
Series A, 4.00%, 09/01/52(a)
 
15,000
15,234,654
Series A, 5.00%, 06/01/53(a)
 
31,375
32,959,168
Series C, 5.00%, 09/01/53(a)
 
6,290
6,660,642
Series D, 5.00%, 05/01/54(a)
 
9,325
9,837,874
Municipal Electric Authority of Georgia, RB, Series A,
5.00%, 01/01/34
 
8,000
8,301,027
Municipal Electric Authority of Georgia, Refunding RB
 
5.00%, 01/01/29
 
2,000
2,113,945
5.00%, 01/01/30
 
1,905
2,049,556
Series A-R, Subordinate, 5.00%, 01/01/30
 
1,250
1,344,853
 
 
101,390,079
Guam — 0.2%
Territory of Guam, Refunding RB
 
Series F, 5.00%, 01/01/30
 
1,160
1,226,509
Series F, 5.00%, 01/01/31
 
1,250
1,336,303
 
 
2,562,812
Idaho — 0.0%
Idaho Housing & Finance Association, RB, Series A,
4.63%, 07/01/29(b)
 
115
115,357
Illinois — 5.6%
Chicago Board of Education, Refunding GO
 
Series B, 5.25%, 12/01/30
 
515
537,321
Series C, 5.25%, 12/01/30
 
810
845,107
Chicago Housing Authority, RB, M/F Housing
 
Series A, (GTD), 5.00%, 01/01/33
 
3,000
3,075,511
Series A, (AGM), 5.00%, 01/01/35
 
1,500
1,538,725
Chicago Midway International Airport, Refunding ARB,
Series A, AMT, Senior Lien, 5.00%, 01/01/30
 
2,500
2,658,194
City of Chicago Illinois, Refunding GO, Series B,
4.00%, 01/01/30
 
1,053
1,052,748
Illinois Finance Authority, RB, 6.50%, 03/01/55
 
6,533
6,002,995
Illinois Finance Authority, Refunding RB
 
Series A, 4.00%, 10/01/32
 
1,000
1,001,458
Series B, 5.00%, 08/15/30
 
3,205
3,251,005
Series C, 5.00%, 02/15/30
 
12,000
12,185,242
Illinois State Toll Highway Authority, Refunding RB,
Series A, 4.00%, 12/01/31
 
20,000
20,012,828
Kane McHenry Cook & De Kalb Counties Unit School
District No. 300, Refunding GO, Series A, 5.00%,
01/01/30
 
6,350
6,447,695
Metropolitan Pier & Exposition Authority, Refunding RB
 
5.00%, 12/15/28
 
1,200
1,235,438
5.00%, 12/15/30
 
1,385
1,421,541
Sales Tax Securitization Corp., Refunding RB,
Series A, 2nd Lien, 5.00%, 01/01/30
 
10,000
10,686,427
State of Illinois, GO
 
Series A, 5.00%, 12/01/28
 
7,450
7,692,452
Series B, 5.00%, 09/01/30
 
7,500
8,110,513
Upper Illinois River Valley Development Authority,
Refunding RB, 4.00%, 01/01/31(b)
 
150
147,623
 
 
87,902,823
Indiana — 1.2%
Indiana Finance Authority, Refunding RB
 
Series A, 4.13%, 12/01/26
 
3,665
3,673,246
Series A, 5.00%, 09/15/29
 
1,165
1,198,690
Series A, 5.00%, 09/15/30
 
1,220
1,262,132
Series B, 3.94%, 03/01/39(a)
 
870
867,246
4
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Indiana (continued)
Indiana Finance Authority, Refunding RB (continued)
 
Series G-1, 5.00%, 10/01/64(a)
$
8,335
$ 8,950,810
Northern Indiana Commuter Transportation District, RB
 
5.00%, 07/01/32
 
1,000
1,003,647
5.00%, 07/01/33
 
1,400
1,405,106
 
 
18,360,877
Kansas — 0.1%
City of Manhattan Kansas, Refunding RB, Series A,
4.00%, 06/01/26
 
315
314,940
City of Shawnee Kansas, RB, 4.00%, 08/01/31(b)
 
400
380,061
Wyandotte County-Kansas City Unified Government
Utility System Revenue, RB, Series A, 5.00%,
09/01/33
 
1,370
1,371,660
 
 
2,066,661
Kentucky — 1.0%
Kentucky Public Energy Authority, RB, Series A-1,
4.00%, 08/01/52(a)
 
6,545
6,610,822
Kentucky Public Transportation Infrastructure Authority,
RB, CAB, 0.00%, 07/01/30(c)
 
1,230
1,001,951
Louisville/Jefferson County Metropolitan Government,
Refunding RB, Series A, 5.00%, 10/01/32
 
7,300
7,344,390
 
 
14,957,163
Louisiana — 1.5%
Louisiana Local Government Environmental Facilities &
Community Development Authority, RB, 5.00%,
08/15/30
 
4,700
4,813,056
Louisiana Local Government Environmental Facilities &
Community Development Authority, Refunding RB,
Series A, 2.00%, 06/01/30
 
1,250
1,172,367
Louisiana Public Facilities Authority, RB(b)
 
4.38%, 05/01/53(a)
 
4,300
4,347,870
Series A, 5.00%, 06/01/29
 
465
468,816
Series A, 5.00%, 04/01/30
 
330
331,063
Series A, 5.00%, 06/01/31
 
500
478,793
Parish of St. James Louisiana, RB(a)
 
6.10%, 06/01/38(b)
 
9,875
10,856,098
3.70%, 08/01/41
 
1,000
1,008,995
 
 
23,477,058
Maine — 0.1%
City of Portland Maine General Airport Revenue,
Refunding RB, Sustainability Bonds, 4.00%,
01/01/35
 
1,000
1,012,462
Maryland — 1.9%
City of Baltimore Maryland, Refunding RB, Convertible,
5.00%, 09/01/31
 
1,250
1,263,685
County of Prince George’s Maryland, TA, 5.00%,
07/01/30(b)
 
585
590,590
Howard County Housing Commission, RB, M/F
Housing, 5.00%, 12/01/33
 
1,765
1,811,936
Maryland Health & Higher Educational Facilities
Authority, Refunding RB
 
5.00%, 07/01/30
 
3,525
3,816,909
5.00%, 07/01/33
 
1,385
1,407,812
5.00%, 07/01/34
 
775
790,646
Series A, 5.00%, 01/01/31
 
2,865
2,873,350
Series A, 5.00%, 01/01/32
 
3,010
3,018,470
Security
 
Par
(000)
Value
Maryland (continued)
Maryland Health & Higher Educational Facilities
Authority, Refunding RB (continued)
 
Series A, 5.00%, 01/01/33
$
3,165
$ 3,173,623
State of Maryland Department of Transportation, ARB,
5.00%, 09/01/29
 
5,470
5,637,037
State of Maryland, GO, Series 1, 3.00%, 03/15/34
 
5,000
4,950,907
 
 
29,334,965
Massachusetts — 1.6%
Commonwealth of Massachusetts, GOL, Series I,
5.00%, 12/01/33
 
5,000
5,060,484
Massachusetts Bay Transportation Authority Sales Tax
Revenue, Refunding RB, Series B, 5.25%, 07/01/30
 
1,900
2,040,594
Massachusetts Development Finance Agency, RB,
Series A, 5.00%, 01/01/33
 
1,070
1,079,655
Massachusetts Development Finance Agency,
Refunding RB
 
Series A, 5.00%, 01/01/32
 
2,020
2,069,620
Series A, 5.00%, 01/01/33
 
1,500
1,534,572
Series A, 5.00%, 01/01/34
 
2,085
2,129,477
Series A, 5.00%, 01/01/35
 
2,000
2,038,928
Massachusetts Housing Finance Agency, RB, M/F
Housing, Sustainability Bonds, 3.15%, 06/01/30
 
8,500
8,507,949
 
 
24,461,279
Michigan — 3.3%
City of Detroit Michigan, GO
 
5.00%, 04/01/27
 
580
588,485
5.00%, 04/01/28
 
665
685,782
5.00%, 04/01/29
 
665
685,819
5.00%, 04/01/30
 
510
525,641
5.00%, 04/01/31
 
735
757,257
5.00%, 04/01/32
 
625
643,806
5.00%, 04/01/33
 
830
853,961
Kalamazoo Hospital Finance Authority, Refunding RB,
5.00%, 05/15/28
 
5,655
5,659,652
Michigan Finance Authority, Refunding RB, 4.37%,
04/15/47(a)
 
16,595
16,562,003
Michigan Strategic Fund, RB
 
AMT, 5.00%, 06/30/30
 
1,325
1,370,468
AMT, 5.00%, 12/31/32
 
2,000
2,059,014
AMT, Sustainability Bonds, 4.00%, 10/01/61(a)
 
3,690
3,691,934
Saginaw Valley State University, Refunding RB
 
Series A, 5.00%, 07/01/31
 
2,070
2,076,640
Series A, 5.00%, 07/01/32
 
1,430
1,434,445
Wayne County Airport Authority, Refunding RB,
Class G, AMT, 5.00%, 12/01/30
 
12,500
13,482,773
 
 
51,077,680
Minnesota — 0.5%
City of Spring Lake Park Minnesota, RB, 4.00%,
06/15/29
 
820
812,191
Minnesota Housing Finance Agency, RB, S/F Housing
 
Series L, AMT, Sustainability Bonds, (AGM), 4.90%,
01/01/30
 
435
449,938
Series L, AMT, Sustainability Bonds, (SAW), 4.95%,
07/01/30
 
460
477,994
Sartell-St Stephen Independent School District No.
748, GO, CAB(c)
 
Series B, 0.00%, 02/01/30
 
3,915
3,397,273
Schedule of Investments
5
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Minnesota (continued)
Sartell-St Stephen Independent School District No.
748, GO, CAB(c) (continued)
 
Series B, 0.00%, 02/01/31
$
2,190
$ 1,821,836
Series B, 0.00%, 02/01/32
 
1,450
1,153,897
 
 
8,113,129
Mississippi — 1.2%
Mississippi Development Bank, Refunding RB
 
Series A, (HUD SEC 8), 5.00%, 03/01/30
 
2,280
2,299,480
Series A, (HUD SEC 8), 5.00%, 03/01/31
 
1,595
1,608,619
Series A, (BAM), 5.00%, 03/01/32
 
2,000
2,017,079
Series A, (BAM), 5.00%, 03/01/33
 
1,275
1,285,884
State of Mississippi Gaming Tax Revenue, RB,
Series E, 5.00%, 10/15/33
 
12,225
12,243,318
 
 
19,454,380
Missouri — 0.6%
Health & Educational Facilities Authority of the State of
Missouri, Refunding RB
 
5.00%, 11/15/30
 
5,000
5,008,126
4.00%, 05/15/32
 
1,680
1,680,485
4.00%, 05/15/33
 
2,000
2,000,391
Series A, 5.00%, 02/01/30
 
485
508,686
Industrial Development Authority of the City of St. Louis
Missouri, Refunding RB, Series A, 3.88%, 11/15/29
 
605
590,815
St. Louis Land Clearance for Redevelopment Authority,
Refunding RB, 3.88%, 10/01/35
 
270
271,348
 
 
10,059,851
Montana — 0.6%
City of Forsyth Montana, Refunding RB, Series A,
3.90%, 03/01/31(a)
 
10,050
10,050,696
Nebraska — 0.0%
Elkhorn School District, GO, 4.00%, 12/15/33
 
375
384,322
Nevada — 0.3%
County of Clark Nevada, Refunding GOL, Series B,
4.00%, 11/01/34
 
5,000
5,014,823
State of Nevada Department of Business & Industry,
RB
 
Series A, 5.00%, 07/15/27
 
150
150,071
Series A, 4.50%, 12/15/29(b)
 
310
310,044
 
 
5,474,938
New Hampshire — 1.5%
National Finance Authority Affordable Housing
Certificates Series 2024-1, RB, Series 2024-1,
4.15%, 10/20/40
 
19,073
19,101,327
New Hampshire Business Finance Authority, RB,
Series A, Sustainability Bonds, 5.00%, 06/01/30
 
400
426,761
New Hampshire Business Finance Authority, Refunding
RB
 
4.00%, 01/01/28
 
285
286,566
4.00%, 01/01/29
 
300
302,482
Class A, AMT, 4.00%, 10/01/33(a)
 
3,895
3,898,789
 
 
24,015,925
New Jersey — 13.0%
New Jersey Economic Development Authority, ARB
 
5.25%, 09/15/29
 
4,590
4,595,712
Series A, AMT, 5.63%, 11/15/30
 
1,740
1,742,553
Series B, AMT, 5.63%, 11/15/30
 
1,315
1,316,929
New Jersey Economic Development Authority, RB
 
Series A, 4.00%, 07/01/29
 
235
234,558
Series A, 5.00%, 06/15/32
 
4,500
4,655,535
Security
 
Par
(000)
Value
New Jersey (continued)
New Jersey Economic Development Authority,
RB (continued)
 
Series C, 5.00%, 06/15/32
$
3,600
$ 3,724,428
AMT, 5.00%, 01/01/28
 
4,705
4,713,963
New Jersey Economic Development Authority,
Refunding RB
 
(BAM), 5.00%, 06/01/28
 
1,000
1,022,714
5.00%, 01/01/29
 
1,225
1,262,771
(BAM), 5.00%, 06/01/30
 
1,500
1,532,706
(Remove), 5.00%, 06/01/31
 
1,750
1,786,840
(AGM), 4.00%, 06/01/32
 
2,125
2,137,998
Series MMM, 4.00%, 06/15/35
 
5,000
5,076,195
Sub-Series A, 4.00%, 07/01/32
 
9,855
9,896,167
Sub-Series A, 5.00%, 07/01/33
 
1,000
1,015,093
New Jersey Economic Development Authority,
Refunding SAB, 5.75%, 04/01/31
 
5,000
5,025,261
New Jersey Educational Facilities Authority, Refunding
RB, Series C, 5.00%, 07/01/32
 
1,500
1,538,555
New Jersey Health Care Facilities Financing Authority,
Refunding RB
 
5.00%, 07/01/29
 
2,900
2,909,929
5.00%, 07/01/30
 
2,400
2,408,148
Series A, 5.00%, 07/01/30
 
11,245
11,285,840
New Jersey Higher Education Student Assistance
Authority, RB
 
Series A, AMT, 4.00%, 12/01/32
 
360
359,984
Series A, AMT, 4.00%, 12/01/33
 
295
294,964
Series A, AMT, 4.00%, 12/01/34
 
145
144,972
Series A, AMT, 4.00%, 12/01/35
 
145
144,958
Series B, AMT, 5.00%, 12/01/30
 
10,000
10,765,468
New Jersey Higher Education Student Assistance
Authority, Refunding RB, Series A, AMT, 5.00%,
12/01/30
 
1,875
2,012,723
New Jersey Housing & Mortgage Finance Agency, RB,
M/F Housing
 
3.15%, 12/01/43(a)
 
3,250
3,256,658
Series B, Sustainability Bonds, 3.05%, 11/01/29
 
7,000
7,005,120
Series D-1, Sustainability Bonds, (AGM), 3.05%,
11/01/29
 
485
485,355
New Jersey Housing & Mortgage Finance Agency, RB,
S/F Housing
 
Series M, Sustainability Bonds, 3.55%, 04/01/30
 
245
246,993
Series M, Sustainability Bonds, 3.60%, 10/01/30
 
415
417,871
New Jersey Housing & Mortgage Finance Agency,
Refunding RB, Series A, AMT, 3.80%, 10/01/32
 
10,165
10,159,499
New Jersey Transportation Trust Fund Authority, RB
 
Series A, 5.00%, 06/15/30
 
2,550
2,556,680
Series A, 0.00%, 12/15/30(c)
 
2,150
1,866,407
Series BB, 5.00%, 06/15/30
 
1,270
1,340,905
Series C, (AGM), 0.00%, 12/15/30(c)
 
35,000
30,383,363
New Jersey Transportation Trust Fund Authority,
Refunding RB, Series A, 5.00%, 06/15/30
 
11,600
11,630,390
Newark Housing Authority, Refunding RB, (AGM),
5.25%, 01/01/27
 
5,000
5,058,437
State of New Jersey, GO, Series A, 4.00%, 06/01/30
 
21,000
22,108,304
Tobacco Settlement Financing Corp., Refunding RB
 
Series A, 5.00%, 06/01/30
 
16,740
17,416,360
Series A, 5.00%, 06/01/32
 
8,270
8,575,277
 
 
204,112,583
6
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
New Mexico — 0.8%
City of Santa Fe New Mexico, Refunding RB, 5.00%,
05/15/32
$
1,000
$ 1,000,535
New Mexico Educational Assistance Foundation, RB
 
Series A-1, AMT, (AMBAC), 3.75%, 09/01/31
 
100
100,021
Series A-1, AMT, (FHLMC, FNMA, GNMA), 3.88%,
04/01/34
 
20
19,960
Series A-2, AMT, (AMBAC), 3.80%, 11/01/32
 
100
100,017
Series A-2, AMT, (FHLMC, FNMA, GNMA), 3.80%,
09/01/33
 
100
99,367
New Mexico Municipal Energy Acquisition Authority,
Refunding RB, 5.00%, 06/01/54(a)
 
10,000
10,629,453
 
 
11,949,353
New York — 10.1%
City of New York, GO, Series B-1, 5.00%, 12/01/33
 
4,000
4,044,030
Genesee County Funding Corp., Refunding RB,
Series A, 5.00%, 12/01/30
 
500
534,287
Metropolitan Transportation Authority Dedicated Tax
Fund, Refunding RB, CAB, Series A, 0.00%,
11/15/30(c)
 
13,000
11,377,855
Metropolitan Transportation Authority, Refunding RB,
Sub-Series C-1, Sustainability Bonds, 5.00%,
11/15/34
 
10,000
10,355,915
New York City Housing Development Corp., RB, M/F
Housing, Series C-2, Sustainability Bonds, 3.75%,
05/01/65(a)
 
12,075
12,209,392
New York City Transitional Finance Authority Future
Tax Secured Revenue, RB
 
Sub-Series B-1, 5.00%, 08/01/30
 
4,980
5,123,553
Series H-1, Subordinate, 5.00%, 11/01/30
 
1,400
1,536,509
New York State Environmental Facilities Corp., RB(a)(b)
 
AMT, 3.13%, 12/01/44
 
3,000
2,998,396
AMT, 4.25%, 09/01/50
 
2,000
2,028,325
AMT, 5.13%, 09/01/50
 
2,250
2,366,076
New York State Housing Finance Agency, RB, M/F
Housing(a)
 
Series E, (AGM), 3.15%, 11/01/65
 
10,000
10,009,225
Series A-2, Sustainability Bonds, 3.45%, 06/15/54
 
5,580
5,626,547
Series F-2, Sustainability Bonds, (AGM), 3.13%,
05/01/56
 
5,000
5,001,313
New York Transportation Development Corp., ARB
 
AMT, 5.00%, 01/01/30
 
2,590
2,660,353
AMT, 5.00%, 01/01/31
 
7,595
7,787,351
Series A, AMT, 4.00%, 07/01/32
 
5,500
5,492,901
Series A, AMT, 4.00%, 07/01/33
 
6,000
5,982,020
New York Transportation Development Corp., RB
 
AMT, 4.00%, 10/01/30
 
15,090
15,327,017
AMT, 4.00%, 10/31/34
 
350
353,308
New York Transportation Development Corp.,
Refunding ARB, AMT, 3.00%, 08/01/31
 
2,775
2,660,940
New York Transportation Development Corp.,
Refunding RB, AMT, 5.00%, 08/01/31
 
5,000
4,989,574
Port Authority of New York & New Jersey, Refunding
ARB
 
Series 207, AMT, 4.00%, 03/15/30
 
10,445
10,593,830
Series 223, AMT, 5.00%, 07/15/30
 
3,730
4,027,943
Series 246, AMT, 5.00%, 09/01/30
 
10,000
10,817,837
Port Authority of New York & New Jersey, Refunding
RB, Series 227, AMT, 3.00%, 10/01/30
 
13,990
13,892,853
 
 
157,797,350
Security
 
Par
(000)
Value
North Carolina — 1.9%
North Carolina Medical Care Commission, RB
 
3.45%, 11/01/30
$
4,115
$ 4,095,120
4.00%, 09/01/33
 
180
181,163
4.00%, 09/01/34
 
185
185,571
Series B, 5.00%, 06/01/55(a)
 
23,900
25,615,344
North Carolina Turnpike Authority, Refunding RB, CAB,
Series C, (AGM), 0.00%, 07/01/30(c)
 
550
457,425
 
 
30,534,623
Ohio — 1.3%
Allen County Port Authority, Refunding RB, Series A,
4.00%, 12/01/31
 
425
418,063
Ohio Air Quality Development Authority, Refunding RB
 
3.25%, 09/01/29
 
4,450
4,424,665
4.00%, 09/01/30(a)
 
1,650
1,665,267
AMT, 4.25%, 11/01/40(a)
 
2,150
2,174,196
Series A, AMT, 4.25%, 11/01/39(a)
 
1,525
1,537,782
Ohio State University, RB, Class A, Sustainability
Bonds, 5.00%, 12/01/30
 
3,320
3,654,272
State of Ohio, RB
 
AMT, (AGM), 5.00%, 12/31/29
 
1,625
1,627,378
AMT, (AGM), 5.00%, 12/31/30
 
4,585
4,591,144
 
 
20,092,767
Oklahoma — 0.1%
Oklahoma Capitol Improvement Authority, RB,
Series B, 5.00%, 07/01/30
 
2,150
2,348,635
Oregon — 2.1%
Oregon Health & Science University, Refunding RB,
Series B, 5.00%, 07/01/35
 
7,390
7,410,087
Port of Morrow Oregon, ARB, Series A, 5.15%,
10/01/26(b)
 
17,000
17,002,623
Port of Morrow Oregon, Refunding ARB, Series A,
4.00%, 06/01/30
 
1,205
1,218,166
Port of Morrow Oregon, Refunding GOL, Series D,
4.00%, 12/01/30
 
880
889,922
State of Oregon Housing & Community Services
Department, RB, M/F Housing, Class R, 4.00%,
01/10/48(a)
 
6,000
6,126,584
 
 
32,647,382
Pennsylvania — 16.3%
Allegheny County Higher Education Building Authority,
Refunding RB, 2.84%, 02/01/33(a)
 
5,485
5,470,061
Allegheny County Hospital Development Authority, RB,
Series D2, 3.79%, 11/15/47(a)
 
5,205
5,169,822
Allegheny County Hospital Development Authority,
Refunding RB
 
Series A, 5.00%, 04/01/31
 
3,075
3,184,712
Series A, 5.00%, 04/01/35
 
1,000
1,030,414
Allentown City School District, Refunding GOL,
Series B, (AGM), 5.00%, 02/01/31
 
4,000
4,238,886
Allentown Neighborhood Improvement Zone
Development Authority, RB(b)
 
5.00%, 05/01/28
 
350
361,963
5.00%, 05/01/32
 
9,310
9,378,415
5.00%, 05/01/33
 
1,900
1,948,808
Chester County Health and Education Facilities
Authority, Refunding RB
 
5.00%, 06/01/30
 
550
583,710
Series A, 5.00%, 12/01/30
 
2,180
2,056,158
Chester County Industrial Development Authority, SAB,
4.38%, 03/01/28(b)
 
69
69,198
Schedule of Investments
7
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Pennsylvania (continued)
City of Philadelphia Pennsylvania Airport Revenue,
Refunding RB, Series A, 5.00%, 07/01/30
$
5,000
$ 5,461,528
City of Philadelphia Pennsylvania, Refunding GO,
(FHLMC, FNMA, GNMA), 4.00%, 08/01/32
 
6,000
6,062,906
Clarion County Industrial Development Authority,
Refunding RB, AMT, 2.45%, 12/01/39(a)
 
4,200
3,889,426
Commonwealth Financing Authority, RB, 5.00%,
06/01/32
 
8,055
8,359,472
Commonwealth of Pennsylvania, GO, 1st Series,
5.00%, 08/15/30
 
7,500
8,217,949
Commonwealth of Pennsylvania, Refunding GO, 1st
Series, 4.00%, 01/01/29
 
1,525
1,538,240
Cumberland County Municipal Authority, Refunding RB
 
5.00%, 01/01/29
 
385
385,489
5.00%, 01/01/30
 
875
875,934
5.00%, 01/01/32
 
1,510
1,511,395
Dauphin County General Authority, Refunding RB,
Series A, 4.00%, 06/01/31
 
2,275
2,277,245
East Hempfield Township Industrial Development
Authority, Refunding RB
 
5.00%, 12/01/28
 
370
370,207
5.00%, 12/01/30
 
135
135,069
Geisinger Authority, Refunding RB
 
5.00%, 04/01/43(a)
 
2,000
2,120,182
Series A-2, 5.00%, 02/15/32
 
4,000
4,063,077
Series A-2, 5.00%, 02/15/34
 
1,750
1,775,655
Lancaster County Hospital Authority, Refunding RB,
3.00%, 08/15/30
 
2,535
2,535,752
Lancaster Municipal Authority, Refunding RB
 
Series A, 5.00%, 05/01/29
 
190
198,355
Series A, 5.00%, 05/01/30
 
195
205,746
Lehigh County Industrial Development Authority,
Refunding RB, Series A, 3.00%, 09/01/29
 
12,250
12,248,515
Montgomery County Higher Education and Health
Authority, Refunding RB
 
4.00%, 09/01/35
 
1,735
1,744,243
4.00%, 09/01/36
 
1,500
1,502,905
Series A, 5.00%, 09/01/31
 
1,750
1,814,585
Series A, 5.00%, 09/01/32
 
1,315
1,361,199
Montgomery County Industrial Development Authority,
Refunding RB, 5.00%, 01/01/30
 
1,640
1,641,239
Northampton County General Purpose Authority,
Refunding RB, 5.00%, 11/01/34
 
1,400
1,437,537
Pennsylvania Economic Development Financing
Authority, RB
 
5.00%, 12/31/29
 
5,000
5,011,264
5.00%, 12/31/30
 
13,100
13,127,941
5.00%, 12/31/34
 
16,500
16,527,174
Series A-1, 5.00%, 04/15/30
 
2,500
2,692,680
Series A-1, 5.00%, 05/15/31
 
5,715
6,221,192
AMT, 5.00%, 12/31/29
 
3,750
3,973,255
AMT, 5.00%, 06/30/30
 
3,500
3,729,727
Class A, AMT, 4.00%, 06/01/41(a)
 
3,795
3,797,187
Pennsylvania Economic Development Financing
Authority, Refunding RB
 
5.00%, 03/15/60(a)
 
3,500
3,742,504
Series A, 5.00%, 12/15/30
 
3,650
3,968,055
Pennsylvania Higher Education Assistance Agency,
RB, Series 1A, AMT, 5.00%, 06/01/30
 
3,500
3,670,054
Security
 
Par
(000)
Value
Pennsylvania (continued)
Pennsylvania Higher Educational Facilities Authority,
RB, Series AT-1, 5.00%, 06/15/30
$
6,625
$ 6,638,166
Pennsylvania Higher Educational Facilities Authority,
Refunding RB
 
5.00%, 05/01/31
 
275
275,173
5.00%, 05/01/33
 
3,320
3,322,093
5.00%, 05/01/35
 
1,000
1,000,631
Pennsylvania Housing Finance Agency, RB, M/F
Housing(a)
 
2.65%, 09/01/29
 
775
765,588
(AGM), 3.15%, 01/01/46
 
7,300
7,316,407
Pennsylvania Housing Finance Agency, RB, S/F
Housing
 
Series 137, Sustainability Bonds, 1.90%, 04/01/30
 
1,625
1,509,028
Series 137, Sustainability Bonds, 1.95%, 10/01/30
 
875
806,583
Series 149A, Sustainability Bonds, 5.25%,
04/01/30(e)
 
200
215,462
Series 149A, Sustainability Bonds, 5.25%,
10/01/30(e)
 
500
541,049
Pennsylvania Housing Finance Agency, Refunding RB,
Series 125A, AMT, 3.40%, 10/01/32
 
8,890
8,679,513
Pennsylvania Turnpike Commission, RB
 
Sub-Series B-1, 5.00%, 06/01/31
 
3,000
3,069,382
Sub-Series B-1, 5.00%, 06/01/32
 
4,075
4,166,765
Pennsylvania Turnpike Commission, Refunding RB
 
2nd Sub Series, 5.00%, 12/01/32
 
1,000
1,032,105
2nd Sub Series, 5.00%, 12/01/33
 
1,815
1,870,557
2nd Sub Series, 5.00%, 12/01/34
 
1,500
1,543,751
2nd Sub Series, 5.00%, 12/01/35
 
2,005
2,060,495
Philadelphia Authority for Industrial Development, RB,
4.00%, 06/15/29
 
165
163,050
Philadelphia Gas Works Co., Refunding RB,
Series 14-T, 5.00%, 10/01/30
 
425
428,934
School District of Philadelphia, GOL
 
Series A, (NPFGC), 5.00%, 09/01/26
 
3,250
3,271,190
Series A, (GTD STD LNS), 5.00%, 09/01/27
 
2,675
2,751,514
Series A, (GTD STD LNS), 5.00%, 09/01/28
 
1,630
1,711,468
Southeastern Pennsylvania Transportation Authority,
RB, 5.00%, 06/01/30
 
5,000
5,415,513
Wayne County Hospital & Health Facilities Authority,
RB
 
Series A, (AGM), 5.00%, 07/01/31
 
105
107,099
Series A, (AGM), 4.00%, 07/01/33
 
440
441,587
West Cornwall Township Municipal Authority,
Refunding RB
 
Series A, 4.00%, 11/15/27
 
130
129,871
Series A, 4.00%, 11/15/28
 
105
104,846
Series A, 4.00%, 11/15/29
 
140
139,713
Series A, 4.00%, 11/15/31
 
200
198,627
Westmoreland County Municipal Authority, Refunding
RB
 
(AGM), 5.00%, 08/15/31
 
5,000
5,138,904
(HUD SECT 8), 5.00%, 08/15/32
 
17,945
18,430,172
 
 
254,932,266
Puerto Rico — 2.4%
Commonwealth of Puerto Rico, GO
 
Series A-1, Restructured, 5.63%, 07/01/27
 
6,990
7,119,083
Series A-1, Restructured, 5.63%, 07/01/29
 
1,534
1,614,125
8
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Puerto Rico (continued)
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB, CAB(c)
 
Series A-1, Restructured, 0.00%, 07/01/29
$
14,055
$ 12,662,726
Series A-1, Restructured, 0.00%, 07/01/31
 
13,523
11,300,646
Series B-1, Restructured, 0.00%, 07/01/33
 
6,477
4,980,897
 
 
37,677,477
Rhode Island — 0.9%
Rhode Island Student Loan Authority, RB
 
Series A, AMT, 5.00%, 12/01/29
 
1,950
2,061,745
Series A, AMT, 5.00%, 12/01/30
 
1,300
1,385,223
Tobacco Settlement Financing Corp., Refunding RB
 
Series A, 5.00%, 06/01/28
 
2,750
2,752,747
Series A, 5.00%, 06/01/29
 
4,500
4,504,307
Series A, 5.00%, 06/01/30
 
4,215
4,218,813
 
 
14,922,835
South Carolina — 1.2%
County of Charleston South Carolina, GO, Series A,
(XLCA SAW), 4.00%, 11/01/30
 
4,885
4,973,687
South Carolina Jobs-Economic Development Authority,
Refunding RB, Series A, 5.00%, 05/01/35
 
10,000
10,325,717
South Carolina Public Service Authority, Refunding RB,
Series A, 5.00%, 12/01/31
 
2,800
3,051,516
 
 
18,350,920
Tennessee — 1.3%
Chattanooga Health Educational & Housing Facility
Board, Refunding RB, Series A, 4.00%, 08/01/36
 
2,000
2,005,481
Metropolitan Government Nashville & Davidson County
Health & Educational Fcilities Board, RB
 
Class A, 5.00%, 07/01/29
 
7,500
7,969,388
Series A, 5.00%, 07/01/31
 
1,300
1,304,742
Rutherford County Health & Educational Facilities
Board, Refunding RB, 5.00%, 11/15/48(a)
 
3,325
3,593,219
Tennessee Energy Acquisition Corp., RB, Series A,
5.00%, 05/01/52(a)
 
5,000
5,300,204
 
 
20,173,034
Texas — 11.1%
City of Austin Texas Airport System Revenue, ARB,
AMT, 5.00%, 11/15/30
 
2,000
2,154,351
City of Houston Texas Airport System Revenue, ARB,
Series C, AMT, 5.00%, 07/15/28
 
3,000
3,076,701
City of Houston Texas Airport System Revenue,
Refunding RB
 
Sub-Series D, 5.00%, 07/01/33
 
7,000
7,316,806
AMT, 5.00%, 07/01/29
 
11,490
11,502,166
Sub-Series A, AMT, 5.00%, 07/01/30
 
1,200
1,291,599
City of Houston Texas Combined Utility System
Revenue, Refunding RB, Series B, 1st Lien,
Subordinate, 5.00%, 11/15/34
 
7,315
7,390,980
Clifton Higher Education Finance Corp., Refunding RB,
Series A, 3.95%, 12/01/32
 
1,335
1,335,023
Dallas Fort Worth International Airport, ARB,
Series A-2, AMT, 5.00%, 11/01/50(a)
 
7,500
7,891,828
Dallas Fort Worth International Airport, Refunding RB,
5.00%, 11/01/32
 
2,500
2,720,004
Harris County Cultural Education Facilities Finance
Corp., RB, 5.00%, 07/01/38
 
2,275
2,280,261
Harris County Cultural Education Facilities Finance
Corp., Refunding RB
 
Series A, 5.00%, 06/01/28
 
735
727,175
Series A, 5.00%, 01/01/33
 
65
65,041
Security
 
Par
(000)
Value
Texas (continued)
Harris County Cultural Education Facilities Finance
Corp., Refunding RB (continued)
 
Series A, 5.00%, 06/01/33
$
3,000
$ 2,860,127
Love Field Airport Modernization Corp., ARB, AMT,
5.00%, 11/01/26
 
430
434,092
Lower Colorado River Authority, Refunding RB,
Series A, 5.00%, 05/15/30
 
3,415
3,696,716
Matagorda County Navigation District No. 1, Refunding
RB
 
Series A, (HUD SECT 8), 4.40%, 05/01/30
 
7,885
8,194,846
Series B, (SAP), 4.55%, 05/01/30
 
12,055
12,550,028
Series B-2, 4.00%, 06/01/30
 
10,100
10,103,162
AMT, 4.25%, 05/01/30
 
6,855
7,021,595
Midland County Fresh Water Supply District No. 1, RB,
CAB, Series A, 0.00%, 09/15/27(c)(d)
 
20,370
15,875,975
Mission Economic Development Corp., RB, 2.88%,
05/01/46(a)
 
3,000
2,998,644
New Hope Cultural Education Facilities Finance Corp.,
RB, Series A, 4.00%, 08/15/29(b)
 
225
224,522
North Texas Tollway Authority, Refunding RB, (AGM),
0.00%, 01/01/30(c)
 
300
269,120
Port Authority of Houston of Harris County Texas, ARB,
1st Lien, 5.00%, 10/01/30
 
2,000
2,172,211
Socorro Independent School District, Refunding GO,
Series B, (NPFGC), 4.00%, 08/15/34
 
2,275
2,288,894
Spring Branch Independent School District, GO, (SAP),
3.00%, 02/01/33
 
5,000
4,963,985
Tarrant County Cultural Education Facilities Finance
Corp., RB
 
Class F, 5.00%, 11/15/52(a)
 
3,585
3,859,127
Series B, 5.00%, 07/01/35
 
9,435
9,853,029
Texas Municipal Gas Acquisition & Supply Corp. III,
Refunding RB, 5.00%, 12/15/32
 
9,080
9,735,259
Texas Municipal Gas Acquisition & Supply Corp. IV,
RB, Series A, 5.50%, 01/01/54(a)
 
18,000
19,036,411
Texas Municipal Gas Acquisition & Supply Corp., III,
Refunding RB, 5.00%, 12/15/30
 
8,935
9,476,282
 
 
173,365,960
Utah — 0.3%
City of Salt Lake City Utah Airport Revenue, ARB,
Series A, AMT, 5.00%, 07/01/30
 
3,495
3,754,695
Downtown Revitalization Public Infrastructure District,
RB
 
Series A, 1st Lien, (Remove), 5.00%, 06/01/30
 
700
759,636
Series B, 2nd Lien, (AMBAC), 5.00%, 06/01/30
 
760
823,219
 
 
5,337,550
Vermont — 0.3%
Vermont Economic Development Authority, RB, AMT,
5.00%, 06/01/52(a)(b)
 
4,000
4,039,330
Virginia — 1.2%
Hanover County Economic Development Authority,
Refunding RB, 4.00%, 07/01/30(b)
 
1,000
1,006,909
Roanoke Economic Development Authority, RB,
5.00%, 07/01/30
 
4,665
5,070,623
Roanoke Economic Development Authority, Refunding
RB, 5.00%, 07/01/53(a)
 
7,960
8,522,119
Virginia Commonwealth Transportation Board, RB,
5.00%, 09/15/30
 
5,000
5,038,887
 
 
19,638,538
Schedule of Investments
9
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Washington — 3.4%
County of King Washington Sewer Revenue,
Refunding RB, Series A, Junior Lien, 3.32%,
01/01/40(a)
$
4,050
$ 4,028,293
Port of Seattle Washington, ARB
 
Series C, AMT, Intermediate Lien, 5.00%, 05/01/33
 
6,695
6,797,286
Series C, AMT, Intermediate Lien, 5.00%, 05/01/34
 
6,000
6,085,756
Port of Seattle Washington, Refunding ARB
 
Series B, AMT, Intermediate Lien, 5.00%, 07/01/30
 
3,000
3,230,216
Series C, AMT, Intermediate Lien, 5.00%, 08/01/30
 
2,695
2,905,026
Washington Economic Development Finance Authority,
RB, AMT, 5.88%, 12/01/45(a)
 
1,000
1,015,322
Washington Health Care Facilities Authority, RB,
Class B, 5.00%, 10/01/30
 
10,000
10,759,831
Washington Health Care Facilities Authority, Refunding
RB
 
Series A, 5.00%, 09/01/30
 
1,600
1,719,796
Series B, 5.00%, 08/15/35
 
9,485
9,713,810
Washington State Convention Center Public Facilities
District, RB, Sustainability Bonds, 4.00%, 07/01/31
 
4,240
4,335,584
Washington State Housing Finance Commission,
Refunding RB
 
Series A, 5.00%, 07/01/26
 
285
285,663
Series A, 5.00%, 07/01/27
 
350
356,051
Series A, 5.00%, 07/01/28
 
550
567,359
Series A, 5.00%, 07/01/29
 
775
810,175
Series A, 5.00%, 07/01/30
 
815
861,071
 
 
53,471,239
West Virginia — 0.2%
West Virginia Hospital Finance Authority, RB
 
Series A, 5.00%, 06/01/31
 
1,950
1,989,851
Series A, 5.00%, 06/01/33
 
1,100
1,120,695
 
 
3,110,546
Wisconsin — 2.3%
Public Finance Authority, RB(b)
 
4.00%, 06/15/30
 
1,500
1,403,021
5.00%, 07/15/30
 
2,173
2,174,761
5.00%, 01/01/31
 
650
654,936
Series A, 4.00%, 07/15/29
 
395
391,621
Series A, 4.00%, 03/01/30
 
795
787,625
Series A, 3.75%, 06/01/30
 
275
262,244
Series A, 5.00%, 06/15/31
 
680
685,579
Public Finance Authority, Refunding RB
 
5.00%, 11/15/30
 
240
256,381
Class A, 3.00%, 12/01/26(b)
 
125
123,306
Class C, 4.00%, 10/01/41(a)
 
4,230
4,323,180
Class B, AMT, 4.00%, 10/01/46(a)
 
1,750
1,778,712
Series B, AMT, 5.25%, 07/01/28
 
755
755,635
Waunakee Community School District, RB, 3.63%,
04/01/30
 
11,820
11,928,841
Wisconsin Health & Educational Facilities Authority,
RB, Series B-2, 4.20%, 08/15/28
 
740
740,042
Security
 
Par
(000)
Value
Wisconsin (continued)
Wisconsin Health & Educational Facilities Authority,
Refunding RB, 5.00%, 04/01/35
$
2,500
$ 2,592,267
Wisconsin Housing & Economic Development Authority
Home Ownership Revenue, RB, S/F Housing,
Series D, (AGM), 3.00%, 09/01/32
 
7,265
7,210,413
 
 
36,068,564
Total Municipal Bonds — 140.4%
(Cost: $2,196,289,741)
2,198,662,653
Municipal Bonds Transferred to Tender Option Bond Trusts(f)
Colorado(g) — 0.7%
City & County of Denver Colorado Airport System
Revenue, Refunding ARB
 
Series A, 4.25%, 11/15/31
 
8,085
8,087,879
Series A, 4.25%, 11/15/32
 
2,230
2,230,926
 
 
10,318,805
Florida(g) — 6.0%
County of Broward Florida Airport System Revenue,
ARB
 
Series Q-1, 4.00%, 10/01/29
 
17,200
17,206,098
Series Q-1, 4.00%, 10/01/30
 
18,095
18,101,442
Series Q-1, 4.00%, 10/01/31
 
18,820
18,826,693
Series Q-1, 4.00%, 10/01/32
 
19,575
19,581,955
Series Q-1, 4.00%, 10/01/33
 
20,355
20,362,241
 
 
94,078,429
Georgia — 1.2%
Main Street Natural Gas, Inc., RB, Series C, 5.00%,
09/01/53
 
18,465
19,553,060
Total Municipal Bonds Transferred to Tender Option Bond
Trusts — 7.9%
(Cost: $123,540,952)
123,950,294
 
 
 
 
Shares
 
Warrants
Construction & Engineering — 0.0%
Brightline West, (Expires 11/26/35, Strike Price USD
5.00)(h)(i)
 
34,392
60,186
Total Warrants — 0.0%
(Cost: $ — )
60,186
Total Long-Term Investments — 148.3%
(Cost: $2,319,830,693)
2,322,673,133
10
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
(Percentages shown are based on Net Assets)
Security
 
 
Shares
Value
Short-Term Securities
Money Market Funds — 3.1%
BlackRock Liquidity Funds, MuniCash, Institutional
Shares, 3.31%(j)(k)
 
48,885,538
$    48,890,427
Total Short-Term Securities — 3.1%
(Cost: $48,890,427)
48,890,427
Total Investments — 151.4%
(Cost: $2,368,721,120)
2,371,563,560
Other Assets Less Liabilities — 1.8%
28,787,056
Liability for TOB Trust Certificates, Including Interest Expense and
Fees Payable — (5.3)%
(83,717,199
)
VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —
(47.9)%
(750,000,000
)
Net Assets Applicable to Common Shares — 100.0%
$ 1,566,633,417
 
(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)
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.
(e)
When-issued security.
(f)
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.
(g)
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
agreements, which expire between October 1, 2029 to November 15, 2032, is
$71,728,412.
(h)
Security is valued using significant unobservable inputs and is classified as Level 3 in the
fair value hierarchy.
(i)
Non-income producing security.
(j)
Affiliate of the Trust.
(k)
Annualized 7-day yield as of period end.
Affiliates
Investments in issuers considered to be affiliate(s) of the Trust during the period ended April 30, 2026 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
04/30/26
Shares
Held at
04/30/26
Income
Capital Gain
Distributions
from
Underlying
Funds
BlackRock Liquidity Funds, MuniCash, Institutional
Shares
$ 19,711,831
$ 29,178,596
(a)
$ —
$ —
$ —
$ 48,890,427
48,885,538
$ 446,692
$ —
 
(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 Trust 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 Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
Schedule of Investments
11
Schedule of Investments (unaudited)(continued)
April 30, 2026
BlackRock Municipal 2030 Target Term Trust (BTT)
 
Fair Value Hierarchy as of Period End (continued)
The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy.  The breakdown of the Trust’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
$ —
$ 2,198,662,653
$ —
$ 2,198,662,653
Municipal Bonds Transferred to Tender Option Bond Trusts
—
123,950,294
—
123,950,294
Warrants
—
—
60,186
60,186
Short-Term Securities 
Money Market Funds
48,890,427
—
—
48,890,427
 
$48,890,427
$2,322,612,947
$60,186
$2,371,563,560
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
$—
$(83,414,981
)
$—
$(83,414,981
)
VRDP Shares at Liquidation Value
—
(750,000,000
)
—
(750,000,000
)
 
$—
$(833,414,981
)
$—
$(833,414,981
)
 
Portfolio Abbreviation 
AGM
 Assured Guaranty Municipal Corp.
AMBAC
 AMBAC Assurance Corp.
AMT
 Alternative Minimum Tax
ARB
 Airport Revenue Bonds
BAM
 Build America Mutual Assurance Co.
BAM-TCRS
 Build America Mutual Assurance Co. - Transferable
Custodial Receipts
CAB
 Capital Appreciation Bonds
COP
 Certificates of Participation
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
 Guaranteed
HUD SECT 8
 U.S. Department of Housing and Urban Development
Section 8
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
SAP
 Subject to Appropriations
SAW
 State Aid Withholding
ST
 Special Tax
Portfolio Abbreviation (continued)
TA
 Tax Allocation
12