iShares iBonds Dec 2023 Term Muni Bond ETF


Security	Par (000)		Value

Municipal Debt Obligations

Alabama — 1.2%
Alabama Federal Aid Highway Finance Authority RB
5.00%, 09/01/23	$	265	$	303,557
Series A, 5.00%, 09/01/23		205		234,827
Series B, 5.00%, 09/01/23		310		355,105
Alabama Public School & College Authority RB
Series C, 5.00%, 06/01/23		100		113,328
Series A, 3.00%, 06/01/23		60		64,393
Series A, 5.00%, 02/01/23		235		262,659
Series B, 5.00%, 01/01/23		215		239,465
City of Huntsville AL GOL, Series D, 5.00%, 05/01/23		115		130,218
State of Alabama GO
5.00%, 11/01/23		400		461,516
Series A, 5.00%, 08/01/23		105		119,946
Series C, 5.00%, 11/01/23		290		334,599
University of Alabama (The) RB, Series B, 5.00%, 07/01/23		125		142,029
University of Alabama at Birmingham RB, Series A, 5.00%, 10/01/23		135		154,695

				2,916,337

Alaska — 0.1%
Municipality of Anchorage AK GO, Series D, 5.00%, 09/01/23		165		188,462
State of Alaska GO, Series B, 5.00%, 08/01/23		75		85,700

				274,162

Arizona — 3.3%
Arizona Department of Transportation State Highway Fund Revenue RB, 5.00%, 07/01/23		210		239,266
Arizona Health Facilities Authority RB, Series A, 5.00%, 01/01/23		35		38,555
Arizona School Facilities Board COP, Series A, 5.00%, 09/01/23		365		416,899
Arizona State University RB
5.00%, 07/01/23		295		334,728
5.00%, 08/01/23		150		170,146
Series B, 5.00%, 07/01/23		220		249,627
Arizona Transportation Board RB, 5.00%, 07/01/23		850		968,087
Arizona Water Infrastructure Finance Authority RB, 5.00%, 10/01/23		70		80,451
City of Mesa AZ Utility System Revenue RB, 5.00%, 07/01/23		35		39,856
City of Phoenix AZ GO
4.00%, 07/01/23		565		627,534
5.00%, 07/01/23		120		136,912
City of Phoenix Civic Improvement Corp. RB
5.00%, 07/01/23		310		352,414
5.50%, 07/01/23 (NPFGC)		65		75,042
Series A, 5.00%, 07/01/23		360		409,505
Series B, 5.00%, 07/01/23		425		484,496
Series D, 5.00%, 07/01/23		235		264,676
City of Scottsdale AZ GO, 5.00%, 07/01/23		100		114,093
City of Tucson AZ Water System Revenue RB, Series A, 5.00%, 07/01/23		100		113,779
County of Pima AZ GOL, 4.00%, 07/01/23		310		343,737
County of Pima AZ Sewer System Revenue RB, 5.00%, 07/01/23		435		494,939
Maricopa County Community College District GO, 5.00%, 07/01/23		200		227,246
Maricopa County Unified School District No. 48 Scottsdale GO, 5.00%, 07/01/23		50		56,968
Maricopa County Unified School District No. 80 Chandler GOL, 4.50%, 07/01/23		40		45,057


Security	Par (000)		Value

Arizona (continued)
Maricopa County Union High School District No. 210-Phoenix GO, 5.00%, 07/01/23	$	250	$	284,447
Regional Public Transportation Authority RB, 5.25%, 07/01/23		125		143,444
Salt River Project Agricultural Improvement & Power District RB
5.00%, 01/01/23		365		407,190
Series A, 5.00%, 01/01/23		560		624,730
State of Arizona COP, 5.00%, 09/01/23		260		296,969
University of Arizona (The) RB
5.00%, 06/01/23		215		243,133
5.00%, 08/01/23		55		62,387

				8,346,313

Arkansas — 0.3%
State of Arkansas GO
4.25%, 06/01/23		35		38,979
5.00%, 04/01/23		260		293,072
5.00%, 10/01/23		345		396,978
University of Arkansas RB, Series A, 5.00%, 11/01/23		105		120,837

				849,866

California — 7.7%
Alameda Unified School District-Alameda County/CA GO, Series A, 0.00%, 08/01/23 (AGM)^(a)		50		49,034
Bay Area Toll Authority RB
Series S-4, 5.00%, 04/01/43 (PR 04/01/23)		100		112,862
Series S-4, 5.25%, 04/01/53 (PR 04/01/23)		135		153,259
Benicia Unified School District GO, Series B, 0.00%, 08/01/23 (NPFGC)^(a)		80		78,665
California Educational Facilities Authority RB, Series T-5, 5.00%, 03/15/23		150		169,227
California Health Facilities Financing Authority RB
5.00%, 11/15/23		25		28,747
Series A, 4.00%, 03/01/23		75		81,427
Series A, 5.00%, 11/15/23		15		17,201
Series B, 5.00%, 11/15/23		110		126,137
California State Public Works Board RB
5.00%, 09/01/23		200		229,566
Series A, 5.00%, 03/01/23		170		191,094
Series A, 5.00%, 09/01/23		175		200,870
Series A, 5.25%, 06/01/23 (ETM NPFGC)		15		17,133
Series B, 5.00%, 10/01/23		415		477,952
Series C, 5.00%, 11/01/23		65		75,111
Series D, 5.00%, 09/01/23		520		596,872
Series F, 5.00%, 05/01/23		135		152,824
Series F, 5.00%, 09/01/23		130		149,218
Series G, 5.00%, 09/01/23		20		22,957
Series I, 5.00%, 11/01/23		175		202,221
California State University RB, Series A, 5.00%, 11/01/23		325		376,470
Chabot-Las Positas Community College District GO, 4.00%, 08/01/23		160		178,925
City of Los Angeles CA Wastewater System Revenue RB, Series B, 4.00%, 06/01/23		75		83,268
City of San Francisco CA Public Utilities Commission Water Revenue RB, 5.00%, 11/01/23		100		115,837
Coast Community College District GO, Series A, 5.00%, 08/01/23		40		45,927
East Bay Municipal Utility District Water System Revenue RB, Series B, 5.00%, 06/01/23		160		182,397
Escondido Union High School District GO, Series A, 0.00%, 08/01/23 (AGC)^(a)		150		147,672


Security	Par (000)		Value

California (continued)
Folsom Cordova Unified School District School Facilities Improvement Dist No. 4 GO, Series A, 0.00%, 10/01/23 (NPFGC)^(a)	$	195	$	192,366
Irvine Ranch Water District SA, 5.00%, 02/01/23		30		33,715
Las Virgenes Unified School District GO
0.00%, 09/01/23 (NPFGC)^(a)		105		103,568
Series C, 0.00%, 11/01/23 (NPFGC)^(a)		50		49,269
Long Beach Community College District GO, Series D, 0.00%, 05/01/23 (NPFGC)^(a)		165		162,797
Los Angeles Community College District/CA GO
Series A, 5.00%, 08/01/23		160		183,760
Series C, 5.00%, 08/01/23		20		22,970
Los Angeles County Metropolitan Transportation Authority RB, Series A, 5.00%, 07/01/23		330		377,546
Los Angeles Department of Water & Power System Revenue RB
Series A, 5.00%, 07/01/23		100		114,124
Series A, 5.00%, 07/01/23		85		97,005
Series B, 5.00%, 07/01/23		105		119,830
Series D, 4.00%, 07/01/23		150		166,834
Series E, 5.00%, 07/01/23		100		114,124
Los Angeles Unified School District/CA GO
Series A, 4.00%, 07/01/23		495		550,554
Series A, 5.00%, 07/01/23		1,550		1,768,922
Series C, 5.00%, 07/01/23		115		131,243
Metropolitan Water District of Southern California RB, Series A, 5.00%, 07/01/23		125		143,010
Mount Diablo Unified School District/CA GO, Series F, 5.00%, 08/01/23		20		22,963
Municipal Improvement Corp. of Los Angeles RB, Series B, 5.00%, 11/01/23		40		46,025
Newport Mesa Unified School District GO, 0.00%, 08/01/23 (NPFGC)^(a)		50		49,416
Palomar Community College District GO, Series B, 0.00%, 08/01/23^(a)		200		198,016
Rancho Santiago Community College District GO, 4.00%, 09/01/23		20		22,429
Riverside County Transportation Commission RB, Series A, 5.00%, 06/01/23		50		56,497
San Diego Community College District GO, 0.00%, 08/01/23^(a)		35		34,663
San Diego Public Facilities Financing Authority RB, 5.00%, 10/15/23		50		56,611
San Diego Unified School District/CA GO
Series A, 0.00%, 07/01/23 (NPFGC)^(a)		105		103,209
Series H-2, 5.00%, 07/01/23		230		263,138
Series J-2, 5.00%, 07/01/23		30		34,322
San Jose Evergreen Community College District GO, Series A, 5.00%, 09/01/23		50		57,609
San Jose Financing Authority RB, Series A, 5.00%, 06/01/23		25		28,256
San Mateo County Community College District GO, Series A, 0.00%, 09/01/23^(a)		90		88,908
San Mateo Joint Powers Financing Authority RB, Series A, 5.00%, 07/15/23		100		113,835
San Mateo Union High School District GO, Series B, 0.00%, 09/01/23 (NPFGC)^(a)		20		19,776
Santa Clara County Financing Authority RB, Series Q, 5.00%, 05/15/23		105		119,247
Santa Monica-Malibu Unified School District GO, 0.00%, 08/01/23 (NPFGC)^(a)		100		98,949


Security	Par (000)		Value

California (continued)
State of California Department of Water Resources RB
5.00%, 12/01/23	$	65	$	75,573
Series AW, 5.00%, 12/01/23		115		133,706
Series BA, 5.00%, 12/01/23		235		273,225
State of California GO
4.00%, 05/01/23		160		177,030
4.00%, 10/01/23		315		353,506
5.00%, 02/01/23		100		112,169
5.00%, 08/01/23		1,745		1,999,595
5.00%, 09/01/23		1,055		1,213,070
5.00%, 10/01/23		795		917,231
5.00%, 11/01/23		950		1,099,777
5.00%, 12/01/23		320		371,702
Series A, 5.00%, 08/01/23		275		315,122
Series B, 5.00%, 09/01/23		275		316,203
University of California RB
Series A, 5.00%, 05/15/23		110		124,992
Series AK, 5.00%, 05/15/48 (Put 05/15/23)^(b)(c)		1,400		1,582,434
Series AO, 5.00%, 05/15/23		65		73,859
Series AR, 4.00%, 05/15/23		200		221,706

				19,369,279

Colorado — 0.6%
Adams County School District No. 1, 4.00%, 12/01/23		250		281,390
Board of Water Commissioners City & County of Denver (The) RB, 5.00%, 09/15/23		100		114,895
City & County of Denver Co. Airport System Revenue RB
Series A, 5.00%, 11/15/23		255		291,062
Series B, 5.00%, 11/15/23		200		228,284
Denver City & County School District No. 1 GO, 5.00%, 12/01/23 (SAW)		140		162,214
E-470 Public Highway Authority RB, Series B, 0.00%, 09/01/23 (NPFGC)^(a)		120		117,566
University of Colorado RB, Series A-2, 5.00%, 06/01/23		240		272,278

				1,467,689

Connecticut — 1.7%
City of Stamford CT GO, 5.00%, 06/01/23		100		113,601
Connecticut State Health & Educational Facilities Authority RB, Series C-2, 5.00%, 07/01/57 (Put 02/01/23)^(b)(c)		355		396,783
State of Connecticut Clean Water Fund — State Revolving Fund RB, Series B, 5.00%, 06/01/23		125		142,116
State of Connecticut GO
5.00%, 09/15/23		100		114,089
Series A, 5.00%, 04/15/23		520		583,654
Series A, 5.00%, 10/15/23		475		543,642
Series B, 5.00%, 04/15/23		200		224,482
Series B, 5.00%, 05/15/23		335		377,257
Series D, 5.00%, 06/15/23		120		135,584
Series E, 5.00%, 09/01/23		10		11,392
Series F, 5.00%, 11/15/23		125		143,514
Series H, 5.00%, 11/15/23		100		114,811
State of Connecticut Special Tax RB, Series A, 5.00%, 09/01/23		100		113,888
State of Connecticut Special Tax Revenue RB
5.00%, 01/01/23		65		72,097
Series A, 5.00%, 08/01/23		230		261,112
Series A, 5.00%, 10/01/23		375		428,434
Series B, 5.00%, 08/01/23		105		119,203
University of Connecticut RB
Series A, 4.00%, 02/15/23		50		54,477


Security	Par (000)		Value

Connecticut (continued)
Series A, 5.00%, 02/15/23	$	100	$	111,466
Series A, 5.00%, 04/15/23		100		112,212

				4,173,814

Delaware — 1.0%
County of New Castle DE GO
5.00%, 04/01/23		100		112,977
5.00%, 10/01/23		165		190,369
Delaware River & Bay Authority RB, Series B, 5.00%, 01/01/23		40		44,316
Delaware Transportation Authority RB, 5.00%, 07/01/23		575		652,792
State of Delaware GO
5.00%, 02/01/23		130		145,751
Series C, 5.00%, 03/01/23		630		708,863
Series A, 5.00%, 02/01/23		50		56,058
Series B, 5.00%, 07/01/23		165		188,305
Series C, 5.00%, 03/01/23		140		157,525
Series D, 5.00%, 07/01/23		125		142,655

				2,399,611

District of Columbia — 1.0%
District of Columbia GO
5.00%, 06/01/23		195		221,582
Series A, 5.00%, 06/01/23		535		607,931
Series B, 5.00%, 06/01/23		350		397,712
District of Columbia RB
5.00%, 07/15/23		20		22,434
Series A, 5.00%, 12/01/23		360		417,514
District of Columbia Water & Sewer Authority RB
5.00%, 10/01/23		155		178,672
Series A, 5.00%, 10/01/23		150		172,548
Series C, 5.00%, 10/01/23		130		149,542
Washington Metropolitan Area Transit Authority RB
5.00%, 07/01/23		150		169,966
Series B, 5.00%, 07/01/23		200		226,622

				2,564,523

Florida — 4.2%
City of Jacksonville FL RB
5.00%, 10/01/23		85		96,251
Series C, 5.00%, 10/01/23		100		114,930
City of Orlando FL RB, Series B, 5.00%, 10/01/23		55		63,362
City of Tallahassee FL Utility System Revenue RB, 5.00%, 10/01/23		35		40,285
City of Tampa FL RB, 5.00%, 10/01/23		75		86,249
County of Broward FL Airport System Revenue RB, Series C, 5.00%, 10/01/23		40		45,348
County of Miami-Dade FL Aviation Revenue RB, 5.00%, 10/01/23		145		164,533
County of Miami-Dade FL GO
5.00%, 07/01/23		25		28,476
Series 2015-D, 5.00%, 07/01/23		120		136,686
Series A, 5.00%, 07/01/23		390		444,229
County of Miami-Dade FL Transit System RB, 5.00%, 07/01/23		460		519,087
County of Miami-Dade FL Water & Sewer System Revenue RB
5.00%, 10/01/23		625		719,806
Series B, 5.00%, 10/01/23		75		86,377
County of Orange FL Sales Tax Revenue RB, Series C, 5.00%, 01/01/23		130		145,194
County of Orange FL Water Utility System Revenue RB, 5.00%, 10/01/23		110		126,799


Security	Par (000)		Value

Florida (continued)
County of Seminole FL Water & Sewer Revenue RB, Series A, 5.00%, 10/01/23	$	150	$	172,652
Florida Department of Environmental Protection RB
5.00%, 07/01/23		415		473,224
Series A, 5.00%, 07/01/23		340		387,702
Florida Department of Management Services COP, Series A, 5.00%, 08/01/23		190		216,984
Florida Municipal Power Agency RB, Series A, 5.00%, 10/01/23		65		73,866
Florida’s Turnpike Enterprise RB
Series A, 5.00%, 07/01/23		430		490,195
Series B, 5.00%, 07/01/23		420		478,795
Series C, 5.00%, 07/01/23		25		28,500
Hillsborough County School Board COP
5.00%, 07/01/23		100		113,124
Series A, 5.00%, 07/01/23		60		67,874
Jacksonville Transportation Authority RB, 5.00%, 08/01/23		170		194,308
Miami-Dade County Expressway Authority RB, Series A, 4.00%, 07/01/23		85		92,055
Orange County School Board COP
Series A, 5.00%, 08/01/23		90		102,463
Series D, 5.00%, 08/01/23		50		56,924
Orlando Utilities Commission RB, Series A, 5.00%, 10/01/23		80		92,108
Orlando-Orange County Convention Center RB, 5.00%, 10/01/23		270		301,601
Orlando-Orange County Expressway Authority RB, Series B, 5.00%, 07/01/23		70		79,536
Palm Beach County School District COP
5.00%, 08/01/23		50		56,956
Series B, 5.00%, 08/01/23		125		142,390
Pasco County School Board COP, Series A, 5.00%, 08/01/23		20		22,527
Reedy Creek Improvement District GOL
5.00%, 06/01/23		75		84,836
Series A, 5.00%, 06/01/23		255		288,444
School Board of Miami-Dade County (The) COP, Series D, 5.00%, 02/01/23		35		39,036
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/23		215		241,714
School District of Broward County/FL COP
Series A, 5.00%, 07/01/23		270		303,429
Series B, 5.00%, 07/01/23		170		191,048
Seminole County School Board COP, Series C, 5.00%, 07/01/23		20		22,700
State of Florida GO
Series A, 5.00%, 06/01/23		450		511,271
Series A, 5.00%, 07/01/23		760		865,434
Series B, 5.00%, 06/01/23		420		477,381
Series C, 5.00%, 06/01/23		35		39,782
Series E, 5.00%, 06/01/23		210		238,690
State of Florida Lottery Revenue RB
Series A, 5.00%, 07/01/23		185		211,015
Series B, 5.00%, 07/01/23		530		604,529
Volusia County School Board COP, Series A, 5.00%, 08/01/23 (BAM)		20		22,892

				10,603,597

Georgia — 1.8%
City of Atlanta GA Water & Wastewater Revenue RB, 5.00%, 11/01/23		80		92,387
City of Gainesville GA Water & Sewerage Revenue RB, 5.00%, 11/15/23		60		69,184


Security	Par (000)		Value

Georgia (continued)
County of Forsyth GA GO, Series B, 5.00%, 03/01/23	$	40	$	45,007
Forsyth County School District GO, 5.00%, 02/01/23		130		145,751
Georgia State Road & Tollway Authority RB, Series A, 5.00%, 06/01/23		85		95,610
Gwinnett County Development Authority COP, 5.25%, 01/01/23 (NPFGC)		115		128,984
Gwinnett County Water & Sewerage Authority RB, 5.00%, 08/01/23		500		572,465
State of Georgia GO
Series A, 5.00%, 07/01/23		785		896,125
Series A-1, 5.00%, 02/01/23		450		504,643
Series C, 5.00%, 07/01/23		75		85,617
Series C-1, 5.00%, 07/01/23		150		171,234
Series D, 5.00%, 02/01/23		355		398,108
Series E, 5.00%, 12/01/23		140		162,620
Series F, 5.00%, 01/01/23		1,000		1,117,390

				4,485,125

Hawaii — 1.8%
City & County Honolulu HI Wastewater System Revenue RB, Series B, 5.00%, 07/01/23		555		631,473
City & County of Honolulu HI GO
4.00%, 10/01/23		100		111,719
5.00%, 09/01/23		360		412,142
Series A, 5.00%, 10/01/23		120		137,833
Series B, 5.00%, 10/01/23		100		114,861
Series C, 5.00%, 10/01/23		20		22,972
Series E, 4.00%, 09/01/23		40		44,569
County of Hawaii HI GO, Series D, 5.00%, 09/01/23		75		85,913
State of Hawaii GO
4.00%, 05/01/23		75		82,743
5.00%, 05/01/23		175		197,848
5.00%, 10/01/23		80		91,998
Series EH, 5.00%, 08/01/30 (PR 08/01/23)		325		370,042
Series EH-2017, 5.00%, 08/01/23 (ETM)		520		592,067
Series EO, 5.00%, 08/01/23 (ETM)		50		57,091
Series EP, 5.00%, 08/01/23		320		365,549
Series EY, 5.00%, 10/01/23		385		442,742
Series EZ, 5.00%, 10/01/23		50		57,499
Series FE, 5.00%, 10/01/23		300		344,994
Series FG, 4.00%, 10/01/23		135		151,002
Series FG, 5.00%, 10/01/23		70		80,499
Series FH, 5.00%, 10/01/23		50		57,499
State of Hawaii State Highway Fund RB, Series B, 5.00%, 01/01/23		155		172,718

				4,625,773

Idaho — 0.0%
Idaho Housing & Finance Association RB, 5.00%, 07/15/23		85		95,529


Illinois — 1.9%
Chicago O’Hare International Airport RB
4.13%, 01/01/23		50		52,356
Series C, 5.00%, 01/01/23		100		110,308
Series B, 5.00%, 01/01/23		500		551,540
Series D, 5.00%, 01/01/23		40		44,123
Illinois Finance Authority RB
5.00%, 01/01/23		200		223,016
5.00%, 07/01/23		200		227,746
5.00%, 12/01/23		265		306,761
State of Illinois GO
5.00%, 02/01/23		120		128,070


Security	Par (000)		Value

Illinois (continued)
5.00%, 05/01/23	$	625	$	671,044
5.00%, 06/01/23		115		123,718
5.00%, 07/01/23		170		183,253
5.00%, 08/01/23		335		361,834
5.00%, 10/01/23		435		471,449
5.00%, 12/01/23		50		54,389
Series A, 5.00%, 04/01/23		215		230,379
Series D, 5.00%, 11/01/23		865		937,625
State of Illinois RB
5.00%, 06/15/23		100		108,128
First Series, 6.00%, 06/15/23 (NPFGC)		45		49,902
Series C, 4.00%, 06/15/23		25		26,340

				4,861,981

Indiana — 0.7%
Indiana Finance Authority RB
Series A, 5.00%, 02/01/23		60		67,190
Series A, 5.00%, 06/01/23		120		136,285
Series A, 5.00%, 12/01/23		35		40,113
Series B, 5.00%, 02/01/23		55		61,591
Series C, 5.00%, 12/01/23		775		898,248
Indiana Municipal Power Agency RB, Series A, 5.00%, 01/01/23		130		144,860
Indiana University RB
Series A, 5.00%, 06/01/23		70		79,521
Series X, 5.00%, 08/01/23		135		154,435
Purdue University RB
Series A, 4.00%, 07/01/23		85		94,434
Series BB-1, 5.00%, 07/01/23		20		22,800

				1,699,477

Iowa — 0.4%
County of Polk IA GO, Series C, 5.00%, 06/01/23		220		249,722
Iowa City Community School District RB, 5.00%, 06/01/23		55		62,263
Iowa Finance Authority RB, 5.00%, 08/01/23		255		291,791
State of Iowa RB
5.00%, 06/15/23		90		102,353
Series A, 5.00%, 06/01/23		265		300,722

				1,006,851

Kansas — 0.5%
City of Wichita KS GO, Series 811, 5.00%, 06/01/23		125		142,001
Johnson County Water District No. 1 RB, Series A, 5.00%, 01/01/23		210		234,545
Kansas Development Finance Authority RB, Series B, 5.00%, 05/01/23		30		33,697
Sedgwick County Unified School District No. 259 Wichita GO, 4.00%, 10/01/23		20		22,357
State of Kansas Department of Transportation RB
5.00%, 09/01/23		205		234,149
Series A, 5.00%, 09/01/23		355		405,478
Wyandotte County-Kansas City Unified Government GO, Series D, 5.00%, 08/01/23		100		114,234

				1,186,461

Kentucky — 0.1%
Louisville & Jefferson County Metropolitan Sewer District RB, 5.00%, 05/15/23		125		141,624


Louisiana — 0.3%
State of Louiliana RB, Series A, 5.00%, 06/15/23		25		28,316
State of Louisiana GO
4.00%, 09/01/23		75		83,007


Security	Par (000)		Value

Louisiana (continued)
Series A, 5.00%, 02/01/23	$	210	$	235,107
Series A, 5.00%, 04/01/23		35		39,462
Series C, 5.00%, 07/15/23		150		171,180
Series C, 5.00%, 08/01/23		225		257,245

				814,317

Maine — 0.5%
Maine Municipal Bond Bank RB
Series A, 5.00%, 09/01/23		395		451,817
Series A, 5.00%, 11/01/23		125		144,224
Series C, 5.00%, 11/01/23		75		86,534
Maine Turnpike Authority RB, 5.00%, 07/01/23		70		79,318
State of Maine GO, Series B, 5.00%, 06/01/23		510		579,365

				1,341,258

Maryland — 3.9%
City of Baltimore MD GO, Series A, 5.00%, 10/15/23		200		230,628
City of Baltimore MD RB, Series D, 5.00%, 07/01/23		285		324,270
County of Anne Arundel MD GOL, 5.00%, 04/01/23		115		129,890
County of Baltimore MD GO, 5.00%, 02/01/23		350		392,501
County of Charles MD GO
5.00%, 10/01/23		150		173,012
5.00%, 11/01/23		10		11,573
County of Frederick MD GO, Series A, 5.00%, 08/01/23		240		274,939
County of Montgomery MD GO
5.00%, 11/01/23		90		104,158
5.00%, 12/01/23		325		377,393
Series B, 5.00%, 11/01/23		170		196,743
Series B, 5.00%, 12/01/23		495		574,799
Series C, 5.00%, 10/01/23		295		340,256
County of Prince George’s MD COP, 5.00%, 10/15/23		25		28,690
County of Prince George’s MD GO, Series A, 5.00%, 09/15/23		120		138,158
County of Prince George’s MD GOL, Series A, 5.00%, 07/01/23		185		211,189
State of Maryland Department of Transportation RB
4.00%, 09/01/23		305		340,837
5.00%, 02/15/23		270		302,999
5.00%, 09/01/23		200		229,632
5.00%, 10/01/23		910		1,048,347
State of Maryland GO
First Series, 5.00%, 06/01/23		590		671,149
Second Series, 5.00%, 08/01/23		90		103,102
Series A, 5.00%, 03/01/23		275		309,502
Series A, 5.00%, 08/01/23		350		400,953
Series B, 4.00%, 08/01/23		415		462,762
Series C, 5.00%, 08/01/23		1,320		1,512,165
Washington Suburban Sanitary Commission GO
4.00%, 06/01/23		185		205,117
5.00%, 06/01/23		405		460,704
5.00%, 06/15/23		150		170,912

				9,726,380

Massachusetts — 2.4%
Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue RB, Series A, 5.00%, 06/15/23		340		386,665
Commonwealth of Massachusetts GO, Series C, 5.50%, 12/01/23 (AMBAC)		500		588,530
Commonwealth of Massachusetts GOL
5.00%, 07/01/23		100		114,093
Series 8, 5.00%, 07/01/23		175		199,663
Series A, 4.20%, 08/01/23 (AMBAC)		100		112,106
Series A, 5.00%, 03/01/23		210		236,229


Security	Par (000)		Value

Massachusetts (continued)
Series A, 5.00%, 05/01/23	$	105	$	118,957
Series A, 5.00%, 07/01/23		135		154,026
Series B, 5.00%, 01/01/23		45		50,260
Series B, 5.00%, 07/01/23		615		701,672
Series B, 5.25%, 08/01/23		70		80,667
Series B, 5.25%, 09/01/23 (AGM)		150		173,475
Series C, 5.00%, 10/01/23		110		126,799
Series D, 5.00%, 07/01/23		205		233,891
Series E, 5.00%, 11/01/23		765		884,799
Series H, 5.00%, 12/01/23		55		63,826
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/23		45		51,025
Massachusetts Bay Transportation Authority RB
Series A, 5.00%, 07/01/23		150		170,904
Series B, 5.25%, 07/01/23		340		389,847
Series C, 5.50%, 07/01/23		75		86,539
Massachusetts Clean Water Trust (The) RB, 5.00%, 08/01/23		120		137,197
Massachusetts Department of Transportation RB, Series C, 0.00%, 01/01/23 (NPFGC)^(a)		85		83,087
Massachusetts School Building Authority RB
Series A, 5.00%, 05/15/23		210		237,991
Series A, 5.00%, 11/15/23 (ETM)		45		52,075
Series A, 5.00%, 05/15/38 (PR 05/15/23)		325		368,524
Series C, 4.00%, 08/15/23 (ETM)		15		16,726
Massachusetts State College Building Authority RB, Series A, 4.00%, 05/01/23		150		165,312
Massachusetts Water Resources Authority RB
Series A, 5.00%, 08/01/23		50		57,165
Series B, 5.25%, 08/01/23 (AGM)		75		86,308

				6,128,358

Michigan — 1.2%
Great Lakes Water Authority Water Supply System Revenue RB, Series A, 5.00%, 07/01/23		250		280,028
Michigan Finance Authority RB, 5.00%, 11/15/23		50		56,565
Michigan State Building Authority RB
Series I, 5.00%, 04/15/23		710		800,596
Series I, 5.00%, 10/15/23		140		161,101
State of Michigan GO
Series A, 5.00%, 05/01/23		35		39,559
Series A, 5.00%, 12/01/23		140		162,366
Series B, 5.00%, 11/01/23		20		23,118
State of Michigan RB, 5.00%, 03/15/23		485		541,478
University of Michigan RB, Series A, 5.00%, 04/01/23		700		791,238
Wayne County Airport Authority RB, Series G, 5.00%, 12/01/23		70		79,828

				2,935,877

Minnesota — 1.6%
City of Rochester MN Electric Utility Revenue RB, Series E, 5.00%, 12/01/23		25		28,886
County of Hennepin MN GO
Series C, 5.00%, 12/01/23		105		121,850
Series A, 5.00%, 12/01/23		95		110,246
Series C, 5.00%, 12/01/23		70		81,234
Elk River Independent School District No. 728 GO, Series A, 5.00%, 02/01/23		85		95,118
Minnesota Municipal Power Agency RB, 5.00%, 10/01/23		30		34,407
Minnesota Public Facilities Authority RB, Series A, 5.00%, 03/01/23		285		320,520


Security	Par (000)		Value

Minnesota (continued)
Southern Minnesota Municipal Power Agency RB, Series A, 5.00%, 01/01/23	$	115	$	127,821
State of Minnesota GO
Series D, 5.00%, 10/01/23		100		115,478
Series A, 5.00%, 08/01/23		395		453,013
Series B, 5.00%, 08/01/23		840		963,371
Series D, 5.00%, 08/01/23		685		785,606
Series F, 5.00%, 10/01/23		175		202,086
State of Minnesota RB, Series A, 5.00%, 06/01/23		430		487,568

				3,927,204

Mississippi — 0.1%
State of Mississippi GO, Series F, 5.25%, 10/01/23		215		249,232


Missouri — 0.9%
City of Kansas City MO GO, Series A, 5.00%, 02/01/23		550		614,295
Metropolitan St Louis Sewer District RB, Series B, 5.00%, 05/01/25 (PR 05/01/23)		150		169,809
Missouri Highway & Transportation Commission RB
Series A, 4.00%, 05/01/23		100		109,573
Series A, 5.00%, 05/01/23		120		135,880
Series B, 5.00%, 05/01/23		125		141,541
Series C, 5.00%, 02/01/23		570		638,605
Missouri State Board of Public Buildings RB
5.00%, 10/01/23		100		115,101
Series A, 4.00%, 04/01/23		225		247,657
Missouri State Environmental Improvement & Energy Resources Authority RB
Series B, 5.00%, 01/01/23		80		89,330
Series B, 5.00%, 07/01/23		50		57,015

				2,318,806

Nebraska — 0.3%
Nebraska Public Power District RB, Series B, 5.00%, 01/01/23		215		239,687
Omaha Public Power District RB, Series A, 5.00%, 02/01/23		395		442,226

				681,913

Nevada — 2.7%
City of Las Vegas NV GOL, Series A, 5.00%, 06/01/23		115		128,837
Clark County School District GOL
Series A, 5.00%, 06/15/23		300		336,582
Series A, 5.00%, 06/15/23		300		336,582
Series B, 5.00%, 06/15/23		260		291,704
Clark County Water Reclamation District GOL, 5.00%, 07/01/23		205		233,569
County of Clark Department of Aviation RB, Series A, 5.00%, 07/01/23		150		169,035
County of Clark NV GOL
5.00%, 06/01/23		75		84,928
5.00%, 11/01/23		515		592,935
Series A, 5.00%, 11/01/23		185		212,996
County of Clark NV Passenger Facility Charge Revenue RB, 5.00%, 07/01/23		250		281,725
County of Clark NV RB, 5.00%, 07/01/23		580		655,400
Las Vegas Valley Water District GOL
5.00%, 06/01/23		300		340,620
Series A, 5.00%, 06/01/23		270		306,558
Series B, 5.00%, 12/01/23		125		144,834
Nevada System of Higher Education COP, Series A, 5.00%, 07/01/23		40		45,449


Security	Par (000)		Value

Nevada (continued)
Nevada System of Higher Education RB
Series A, 5.00%, 07/01/23	$	150	$	169,593
Series B, 5.00%, 07/01/23		100		113,062
State of Nevada GOL
Series D, 5.00%, 04/01/23		125		140,757
Series D-1, 5.00%, 03/01/23		655		735,008
Series H-1, 5.00%, 06/01/23		210		238,115
State of Nevada Highway Improvement Revenue RB, 5.00%, 12/01/23		615		713,474
Truckee Meadows Water Authority RB, 5.00%, 07/01/23		230		262,053
Washoe County School District/NV GOL
Series A, 5.00%, 06/01/23 (PSF)		190		214,287
Series F, 5.00%, 06/01/23		40		45,053

				6,793,156

New Hampshire — 0.2%
New Hampshire Health and Education Facilities Authority Act RB, 5.00%, 07/01/23		125		141,444
New Hampshire Municipal Bond Bank RB
Series B, 5.00%, 08/15/23		100		114,576
Series C, 5.25%, 08/15/23 (HERBIP)		100		115,332
Series E, 5.00%, 08/15/23		125		142,730
State of New Hampshire GO, Series A, 5.00%, 03/01/23		100		112,380

				626,462

New Jersey — 1.8%
County of Monmouth NJ GO, 5.00%, 01/15/23		120		134,281
Monmouth County Improvement Authority (The) RB, Series B, 5.00%, 12/01/23 (GTD)		230		266,577
New Jersey Economic Development Authority RB
Series B, 5.00%, 11/01/23 (SAP)		470		524,731
Series DDD, 5.00%, 06/15/23		100		110,355
Series NN, 5.00%, 03/01/23		800		874,704
Series UU, 5.00%, 06/15/23		50		55,178
Series XX, 5.00%, 06/15/23 (SAP)		305		336,583
New Jersey Educational Facilities Authority RB
5.00%, 06/01/23 (SAP)		75		82,663
5.00%, 06/15/23		75		82,766
New Jersey Transportation Trust Fund Authority RB
Series A, 5.00%, 06/15/23		395		435,820
Series A, 5.75%, 06/15/23 (NPFGC)		100		112,909
Series AA, 5.00%, 06/15/23		230		253,816
New Jersey Turnpike Authority RB
Series A, 5.00%, 01/01/23 (ETM)		10		11,160
Series B, 5.00%, 01/01/23		190		210,262
Series C, 5.00%, 01/01/23		170		188,129
State of New Jersey GO
5.00%, 06/01/23		385		429,826
Series T, 5.00%, 06/01/23		330		368,422

				4,478,182

New Mexico — 0.9%
County of Santa Fe NM GO, 5.00%, 07/01/23		145		165,252
County of Santa Fe NM RB, 5.00%, 06/01/23		185		209,881
New Mexico Finance Authority RB, Series B, 5.00%, 06/01/23		90		102,132
State of New Mexico GO, Series B, 5.00%, 03/01/23		600		673,290
State of New Mexico Severance Tax Permanent Fund RB
5.00%, 07/01/23		155		176,116
Series A, 5.00%, 07/01/23		175		198,841
Series B, 4.00%, 07/01/23		390		431,843
Series B, 5.00%, 07/01/23		40		45,449


Security	Par (000)		Value

New Mexico (continued)
University of New Mexico (The) RB
Series A, 5.00%, 06/01/23	$	130	$	146,499
Series C, 5.00%, 06/01/23		100		112,692

				2,261,995

New York — 9.4%
City of New York NY GO
Series 1, 5.00%, 08/01/23		375		428,017
Series A, 4.00%, 08/01/23		50		55,580
Series A, 5.00%, 08/01/23		340		388,070
Series C, 5.00%, 08/01/23		1,845		2,105,847
Series D, 5.00%, 08/01/23		35		39,948
Series D-1, 5.00%, 08/01/23		50		57,069
Series E, 5.00%, 08/01/23		110		125,552
Series G, 5.00%, 08/01/23		630		719,069
Series H, 5.00%, 08/01/23		35		39,948
Series I, 5.00%, 03/01/23		50		56,094
Series I, 5.00%, 08/01/23		125		142,673
Series J, 5.00%, 08/01/23		505		576,397
Long Island Power Authority RB, 5.00%, 09/01/23		125		141,990
Metropolitan Transportation Authority RB
Series A, 5.00%, 11/15/23		10		11,268
Series A-1, 5.00%, 11/15/23		25		26,857
Series A-2, 5.00%, 11/15/23		195		209,481
Series B, 5.00%, 11/15/23		930		999,074
Series B-3, 5.00%, 11/15/23		55		59,084
Series C-1, 5.00%, 11/15/23		365		392,105
Series D, 5.00%, 11/15/23		400		429,704
Series F, 5.00%, 11/15/23		140		150,396
New York City Transitional Finance Authority Building Aid Revenue RB
Series S-1, 5.00%, 07/15/23 (SAW)		305		347,685
Series S-2, 5.00%, 07/15/23 (SAW)		100		113,995
Series S-3, 5.00%, 07/15/23 (SAW)		175		199,491
New York City Transitional Finance Authority Future Tax Secured Revenue RB
Series A, 5.00%, 08/01/23		150		171,303
Series A-1, 4.00%, 08/01/23		125		139,029
Series A-1, 5.00%, 08/01/23		440		502,489
Series A-3, 5.00%, 08/01/23		210		239,824
Series B-1, 4.00%, 08/01/23		100		111,223
Series C, 5.00%, 11/01/23		510		588,254
Series D, 5.00%, 11/01/23		165		190,318
Series E-1, 5.00%, 02/01/23		25		27,963
Series F-1, 5.00%, 02/01/23		200		223,700
Sub-Series C, 5.00%, 11/01/23		155		178,783
New York City Water & Sewer System RB
Series AA, 4.00%, 06/15/23		175		194,449
Series AA, 5.00%, 06/15/23		750		854,790
Series DD, 5.00%, 06/15/23		220		250,738
New York Convention Center Development Corp. RB
5.00%, 11/15/23		25		27,641
Series B, 5.00%, 11/15/23		20		22,045
New York State Dormitory Authority RB
5.00%, 02/15/23		225		252,076
Series A, 4.00%, 03/15/23		50		54,911
Series A, 4.00%, 10/01/23 (SAW)		240		264,290
Series A, 5.00%, 02/15/23		1,080		1,209,967
Series A, 5.00%, 03/15/23		1,340		1,507,633
Series A, 5.00%, 07/01/23		60		67,800
Series A, 5.00%, 10/01/23 (AGM)		65		73,887


Security	Par (000)		Value

New York (continued)
Series A, 5.00%, 10/01/23 (SAW)	$	150	$	169,854
Series A, 5.50%, 05/15/23 (NPFGC)		205		233,198
Series B, 5.00%, 02/15/23		610		683,408
Series B, 5.00%, 07/01/23		315		355,071
Series C, 5.00%, 03/15/23		775		871,952
Series D, 5.00%, 02/15/23		335		375,314
Series E, 5.00%, 02/15/23		325		364,110
Series E, 5.00%, 03/15/23		245		275,444
Series E, 5.00%, 10/01/23 (SAW)		50		56,618
New York State Environmental Facilities Corp. RB
5.00%, 05/15/23		125		141,774
5.00%, 06/15/23		460		523,563
New York State Thruway Authority RB
Series K, 5.00%, 01/01/23		100		110,410
Series L, 5.00%, 01/01/23		260		287,066
New York State Urban Development Corp. RB
Series A, 5.00%, 03/15/23		1,075		1,207,375
Series A-2, 5.00%, 03/15/23		175		196,549
Series C-1, 5.00%, 03/15/23		325		365,020
Series D, 5.00%, 03/15/23		605		679,500
Series E, 5.00%, 03/15/23		140		157,240
Port Authority of New York & New Jersey RB
5.00%, 07/15/23		300		341,028
5.00%, 10/15/23		130		149,234
5.00%, 12/01/23		100		115,362
Sales Tax Asset Receivable Corp. RB, Series A, 5.00%, 10/15/23		255		295,382
State of New York GO, Series A, 4.00%, 03/01/23		200		219,842
Triborough Bridge & Tunnel Authority RB
Series A, 5.00%, 11/15/23		140		160,192
Series A, 5.00%, 11/15/23		130		148,750
Series A, 5.00%, 11/15/23 (Call 05/15/23)		100		111,669

				23,563,432

North Carolina — 1.9%
Cape Fear Public Utility Authority RB, Series A, 5.00%, 06/01/23		50		56,740
City of Charlotte NC COP, Series C, 5.00%, 12/01/23		40		46,347
City of Winston-Salem NC RB, Series C, 5.00%, 06/01/23		20		22,751
County of Buncombe NC RB, 5.00%, 06/01/23		145		164,546
County of Forsyth NC GO, 5.00%, 12/01/23		130		150,909
County of Guilford NC GO, Series A, 5.00%, 05/01/23		685		776,256
County of Mecklenburg NC GO, Series B, 5.00%, 12/01/23		25		29,030
County of Mecklenburg NC RB, Series A, 5.00%, 10/01/23		265		304,835
County of Union NC GO, 5.00%, 09/01/23		665		764,192
County of Wake NC RB
5.00%, 09/01/23		100		114,650
Series A, 5.00%, 12/01/23		175		202,641
North Carolina Medical Care Commission RB, 5.00%, 06/01/23		15		16,872
North Carolina Municipal Power Agency No. 1 RB
Series B, 5.00%, 01/01/23		110		121,311
Series E, 5.00%, 01/01/23		10		11,028
State of North Carolina GO
5.00%, 06/01/23		65		73,940
Series A, 5.00%, 06/01/23		995		1,131,852
State of North Carolina RB
5.00%, 03/01/23		330		369,854
Series A, 5.00%, 05/01/23		175		197,901


Security	Par (000)		Value

North Carolina (continued)
Series C, 5.00%, 05/01/23	$	155	$	175,283

				4,730,938

North Dakota — 0.0%
North Dakota Public Finance Authority RB, Series A, 5.00%, 10/01/23		105		121,000


Ohio — 3.3%
City of Cincinnati OH Water System Revenue RB, Series B, 5.00%, 12/01/23		40		46,405
City of Columbus OH GO
4.00%, 04/01/23		500		550,490
Series 1, 5.00%, 07/01/23		100		113,936
Series 5, 5.00%, 08/15/23		165		188,943
Series A, 4.00%, 07/01/23		25		27,759
Series A, 5.00%, 02/15/23		230		257,924
Series A, 5.00%, 08/15/23		130		148,864
City of Columbus OH GOL, Series B, 5.00%, 08/15/23		270		309,180
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/23		135		154,724
County of Hamilton OH Sewer System Revenue RB, Series A, 5.00%, 12/01/23		20		23,173
Miami University/Oxford OH RB, 5.00%, 09/01/23		165		189,118
Northeast Ohio Regional Sewer District RB, 5.00%, 11/15/28 (PR 05/15/23)		615		696,445
Ohio Higher Educational Facility Commission RB, Series A, 5.00%, 12/01/23		160		182,522
Ohio Turnpike & Infrastructure Commission RB
Series A, 5.00%, 02/15/23		140		156,808
Series A-1, 5.00%, 02/15/23		290		322,474
Ohio University RB, Series A, 5.00%, 12/01/23		100		115,326
Ohio Water Development Authority RB
5.00%, 12/01/23		325		377,393
Series A, 5.00%, 06/01/23		205		233,132
Series B, 5.00%, 12/01/23		130		150,957
Ohio Water Development Authority Water Pollution Control Loan Fund RB
5.00%, 06/01/23		115		130,781
5.00%, 12/01/23		205		238,048
5.50%, 06/01/23		235		270,560
5.50%, 12/01/23		100		117,779
Series 2015A, 5.00%, 12/01/23		140		162,569
State of Ohio GO
Series A, 5.00%, 03/01/23		30		33,747
Series A, 5.00%, 05/01/23		340		385,193
Series A, 5.00%, 08/01/23		250		286,233
Series A, 5.00%, 09/15/23		270		310,673
Series B, 4.00%, 09/01/23		200		223,632
Series B, 5.00%, 08/01/23		185		211,812
Series C, 5.00%, 11/01/23		100		115,660
Series S, 5.00%, 04/01/23		15		16,934
Series S, 5.00%, 05/01/23		110		124,686
Series T, 5.00%, 11/01/23		95		109,944
Series V, 5.00%, 05/01/23		500		566,755
Series W, 4.00%, 05/01/23		150		165,923
State of Ohio GOL, Series A, 5.00%, 09/01/23		115		132,116
State of Ohio RB
5.00%, 04/01/23		80		89,971
Series A, 5.00%, 02/01/23		100		111,691
Series C, 5.00%, 12/01/23		240		277,214

				8,327,494


Security	Par (000)		Value

Oklahoma — 1.0%
City of Oklahoma City OK GO, 5.00%, 03/01/23	$	215	$	241,499
Grand River Dam Authority RB, Series A, 5.00%, 06/01/23		465		527,254
Oklahoma Agricultural & Mechanical Colleges RB, Series C, 5.00%, 08/01/23		130		148,435
Oklahoma Capitol Improvement Authority RB
5.00%, 01/01/23		145		161,463
5.00%, 07/01/23		315		358,404
Series A, 5.00%, 07/01/23		140		159,291
Series B, 5.00%, 07/01/23		200		227,558
Oklahoma City Water Utilities Trust RB, 5.00%, 07/01/23		135		153,984
Oklahoma Turnpike Authority RB, Series D, 4.00%, 01/01/23		180		196,437
Oklahoma Water Resources Board RB
5.00%, 04/01/23		220		248,109
Series A, 5.00%, 04/01/23		75		84,583

				2,507,017

Oregon — 1.8%
City of Eugene OR Electric Utility System Revenue RB, 5.00%, 08/01/23		55		62,794
City of Portland OR Sewer System Revenue RB
Series A, 5.00%, 10/01/23		90		103,714
Series B, 5.00%, 06/15/23		215		244,709
Series B, 5.00%, 10/01/23		75		86,402
City of Portland OR Water System Revenue RB, Series A, 5.00%, 04/01/23		220		248,360
City of Salem OR GO, 5.00%, 06/01/23		100		113,693
City of Salem OR Water & Sewer Revenue RB, 5.00%, 06/01/23		75		85,041
Multnomah County School District No. 1 Portland/OR GO, 5.00%, 06/15/23 (GTD)		185		210,676
Oregon State Business Development Commission RB, 2.40%, 12/01/40 (Put 08/14/23)^(b)(c)		350		365,806
Oregon State Lottery RB
Series A, 5.00%, 04/01/23		340		383,347
Series B, 5.00%, 04/01/23		135		152,211
Series C, 5.00%, 04/01/23		120		135,299
Port of Portland OR Airport Revenue RB, Series 23, 5.00%, 07/01/23		175		197,153
Portland Community College District GO, 5.00%, 06/15/23		30		34,164
Salem-Keizer School District No. 24J GO, Series B, 0.00%, 06/15/23 (GTD)^(a)		150		148,284
State of Oregon Department of Transportation RB
Series C, 5.00%, 11/15/23		110		127,229
Series A, 5.00%, 11/15/23		565		653,495
State of Oregon GO
Series A, 5.00%, 08/01/23		50		57,312
Series C, 5.00%, 06/01/23		100		113,815
Series D, 5.00%, 05/01/23		190		215,479
Series F, 5.00%, 05/01/23		100		113,410
Series G, 5.00%, 11/01/23		45		52,111
Series H, 5.00%, 05/01/23		495		561,379
Series O, 5.00%, 08/01/23		70		80,236
Tri-County Metropolitan Transportation District of Oregon RB, Series B, 5.00%, 09/01/23		20		22,977

				4,569,096

Pennsylvania — 2.0%
City of Philadelphia PA GO, 5.00%, 08/01/23		210		237,266
Commonwealth of Pennsylvania GO
First Series, 5.00%, 01/01/23		550		611,457
First Series, 5.00%, 02/01/23		110		122,713


Security	Par (000)		Value

Pennsylvania (continued)
First Series, 5.00%, 03/15/23	$	115	$	128,936
First Series, 5.00%, 04/01/23		185		207,796
First Series, 5.00%, 06/15/23		160		181,221
First Series, 5.00%, 08/15/23		815		929,271
First Series, 5.00%, 04/01/24 (PR 04/01/23)		350		394,817
Second Series, 5.00%, 09/15/23		300		343,173
Second Series, 5.00%, 10/15/23		520		596,757
Delaware County Authority RB
5.00%, 08/01/23		110		123,653
5.00%, 12/01/23		75		85,291
Pennsylvania Intergovernmental Cooperation Authority ST, 5.00%, 06/15/23		110		124,826
Pennsylvania Turnpike Commission RB
Series A, 5.00%, 12/01/23		390		446,516
Series A, 5.25%, 07/15/23 (AGM)		110		125,606
Series A-1, 5.00%, 12/01/23		225		257,391
Series B, 5.00%, 12/01/23		35		39,458
Southeastern Pennsylvania Transportation Authority RB, 5.00%, 06/01/23		120		135,268

				5,091,416

Rhode Island — 0.9%
Rhode Island Commerce Corp. RB, Series A, 5.00%, 06/15/23		350		393,533
Rhode Island Health & Educational Building Corp. RB, 5.00%, 09/01/23		195		223,503
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB
5.00%, 10/01/23		405		466,434
Series B, 5.00%, 10/01/23		345		397,333
State of Rhode Island COP, Series B, 5.00%, 10/01/23		145		165,906
State of Rhode Island GO
Series A, 3.00%, 08/01/23		400		432,100
Series A, 5.00%, 05/01/23		150		169,232
Series D, 5.00%, 08/01/23		50		56,988
Series A, 5.00%, 08/01/23		50		56,988

				2,362,017

South Carolina — 0.1%
Charleston Educational Excellence Finance Corp. RB, 5.00%, 12/01/23		60		69,196
State of South Carolina GO, 5.00%, 08/01/23 (SAW)		150		171,739

				240,935

Tennessee — 2.4%
City of Memphis TN GO, Series A, 5.00%, 11/01/23		100		115,555
County of Blount TN GO, Series B, 5.00%, 06/01/23		145		164,281
County of Hamilton TN GO, Series A, 5.00%, 05/01/23		195		220,863
County of Knox TN GO, 5.00%, 06/01/23		130		147,602
County of Shelby TN GO, Series A, 5.00%, 03/01/23		160		179,763
County of Sumner TN GO, 5.00%, 12/01/23		45		52,222
County of Washington TN GO, Series A, 4.00%, 06/01/23		75		83,021
County of Williamson TN GO, 5.00%, 04/01/23		70		79,024
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series A, 5.00%, 05/15/23		75		84,996
Metropolitan Government of Nashville & Davidson County TN GO
5.00%, 07/01/23		1,160		1,322,017
Series A, 5.00%, 07/01/23		80		91,174
Series A, 5.00%, 01/01/29 (PR 01/01/23)		25		27,901
Series A, 5.00%, 01/01/33 (PR 01/01/23)		1,250		1,395,037
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue RB, 5.00%, 07/01/23		170		192,894


Security	Par (000)		Value

Tennessee (continued)
State of Tennessee GO
Series A, 5.00%, 08/01/23	$	655	$	749,929
Series A, 5.00%, 09/01/23		250		287,207
Series B, 5.00%, 08/01/23		140		160,290
Tennessee State School Bond Authority RB
5.00%, 11/01/23		40		46,152
Series A, 5.00%, 11/01/23		65		74,996
Series B, 5.00%, 11/01/23		465		536,512

				6,011,436

Texas — 12.3%
Abilene Independent School District GO, 5.00%, 02/15/23 (PSF)		175		196,152
Allen Independent School District GO, 5.00%, 02/15/23 (PSF)		225		252,074
Alvin Independent School District/TX GO, Series C, 5.00%, 02/15/23 (PSF)		235		263,468
Arlington Independent School District/TX GO, Series B, 5.00%, 02/15/23 (PSF)		385		431,847
Austin Community College District GOL, 5.00%, 08/01/23		215		244,636
Austin Community College District Public Facility Corp. RB, 5.00%, 08/01/23		100		113,976
Austin Independent School District GO
Series B, 5.00%, 08/01/23		335		382,577
Series B, 5.00%, 08/01/23 (PSF)		50		57,069
Birdville Independent School District GO
5.00%, 02/15/23 (PSF)		45		50,463
Series B, 5.00%, 02/15/23 (PSF)		40		44,856
Bryan Independent School District GO, 4.00%, 02/15/23 (PSF).		250		273,910
Central Texas Regional Mobility Authority RB, Series A, 5.00%, 01/01/23		100		109,954
Central Texas Turnpike System RB
Series A, 0.00%, 08/15/23 (AMBAC)^(a)		250		244,057
Series C, 5.00%, 08/15/23		125		138,915
City of Austin TX Electric Utility Revenue RB, Series A, 5.00%, 11/15/23		140		161,379
City of Austin TX GOL, 5.00%, 09/01/23		300		344,349
City of Austin TX Water & Wastewater System Revenue RB
5.00%, 05/15/23		40		45,272
5.00%, 11/15/23		195		225,196
Series A, 5.00%, 05/15/23		145		164,111
Series A, 5.00%, 11/15/23		375		433,069
City of Fort Worth TX Water & Sewer System Revenue RB, Series A, 5.00%, 02/15/23		70		78,593
City of Garland TX GOL, 5.00%, 02/15/23		165		184,630
City of Houston TX Combined Utility System Revenue RB
Series B, 5.00%, 11/15/23		120		138,796
Series C, 5.00%, 05/15/23		255		288,989
Series D, 5.00%, 11/15/23		175		202,410
City of Houston TX GOL, Series A, 5.00%, 03/01/23		100		112,242
City of Lubbock TX GOL, 5.00%, 02/15/23		60		67,009
City of Plano TX GOL, 5.00%, 09/01/23		180		206,429
City of Round Rock TX GOL, 5.00%, 08/15/23		55		62,891
City of San Antonio Texas Electric & Gas Systems Revenue RB, 5.00%, 02/01/23		175		195,783
City of San Antonio TX Electric & Gas Systems Revenue RB
5.00%, 02/01/23		415		464,462
5.00%, 02/01/23 (ETM)		330		369,174
City of San Antonio TX GOL, 5.00%, 02/01/23		400		447,504
City of Waco TX GOL, 5.00%, 02/01/23		20		22,370
Clear Creek Independent School District GO, 5.00%, 02/15/23		100		112,222


Security	Par (000)		Value

Texas (continued)
Conroe Independent School District GO
5.00%, 02/15/23 (PSF)	$	125	$	140,176
Series A, 5.00%, 02/15/23 (PSF)		165		185,033
County of Bexar TX GOL, 5.00%, 06/15/23		260		295,927
County of Harris TX GOL, Series A, 5.00%, 10/01/23		90		103,559
County of Harris TX RB
5.00%, 08/15/23		165		188,349
Series A, 5.00%, 08/15/23		115		131,274
Cuero Independent School District GO, 5.00%, 08/15/30 (PR 08/15/23)		540		617,566
Cypress-Fairbanks Independent School District GO
5.00%, 02/15/23 (PSF)		310		347,804
Series A, 5.00%, 02/15/23 (PSF)		35		39,268
Dallas Area Rapid Transit RB, Series A, 5.00%, 12/01/23		275		318,037
Dallas/Fort Worth International Airport RB, Series G, 5.00%, 11/01/23		160		183,765
Denton Independent School District GO, 5.00%, 08/15/23 (PSF)		100		114,511
Fort Bend Independent School District GO, Series A, 5.00%, 08/15/23 (PSF)		105		120,339
Frisco Independent School District GO, Series A, 5.00%, 08/15/23 (PSF)		80		91,661
Goose Creek Consolidated Independent School District GO, 5.00%, 02/15/28 (PR 02/15/23)		900		1,009,719
Grapevine-Colleyville Independent School District GO, 0.00%, 08/15/23 (PSF)^(a)		100		99,020
Harris County Toll Road Authority (The) RB, Series A, 5.00%, 08/15/23		160		182,642
Houston Community College System GOL, 5.00%, 02/15/23		270		301,833
Houston Independent School District GOL
5.00%, 02/15/23 (PSF)		295		330,657
Series A, 5.00%, 02/15/23 (PSF)		185		207,361
Humble Independent School District GO, Series B, 5.00%, 02/15/23 (PSF)		50		56,057
Katy Independent School District GO
5.00%, 02/15/23 (PSF)		95		106,457
Series A, 5.00%, 02/15/23 (PSF)		370		414,622
Keller Independent School District/TX GO, Series A, 5.00%, 02/15/23 (PSF)		50		55,935
Killeen Independent School District GO, 5.00%, 02/15/23		180		201,659
Klein Independent School District GO
5.00%, 02/01/23 (PSF)		150		167,934
Series A, 5.00%, 08/01/23 (PSF)		120		137,197
Laredo Independent School District GO, 5.00%, 08/01/23 (PSF)		25		28,559
Leander Independent School District GO
0.00%, 08/15/23 (PSF)^(a)		240		237,144
5.00%, 08/15/23 (PSF)		20		22,863
Series A, 5.00%, 08/15/23		85		97,168
Series A, 0.00%, 08/15/23 (PSF)^(a)		50		49,405
Series B, 5.00%, 08/15/23		20		22,824
Series D, 0.00%, 08/15/23 (PSF)^(a)		60		59,286
Lewisville Independent School District GO
5.00%, 08/15/23		200		229,480
5.00%, 08/15/23 (PSF)		970		1,112,978
Series A, 4.00%, 08/15/23 (PSF)		35		39,101
Series B, 5.00%, 08/15/23		25		28,685
Lone Star College System GOL, Series B, 5.00%, 02/15/23		335		375,853
Lower Colorado River Authority RB
5.00%, 05/15/23		185		208,445


Security	Par (000)		Value

Texas (continued)
Series B, 5.00%, 05/15/23	$	355	$	399,989
Magnolia Independent School District/TX GO, 5.00%, 08/15/23 (PSF)		90		103,030
Manor Independent School District GO, 5.00%, 08/01/23 (PSF)		100		114,234
Metropolitan Transit Authority of Harris County RB
5.00%, 11/01/23		310		356,370
Series A, 5.00%, 11/01/23		105		120,706
Series B, 5.00%, 11/01/23		20		22,992
North East Independent School District/TX GO
5.00%, 08/01/23 (PSF)		225		256,882
5.25%, 02/01/23 (PSF)		220		247,377
North Texas Municipal Water District RB
5.00%, 06/01/23		280		317,321
6.25%, 06/01/23		75		87,888
North Texas Municipal Water District Water System Revenue RB, 5.00%, 09/01/23		340		390,490
North Texas Tollway Authority RB
Series A, 5.00%, 01/01/23		795		882,211
Series B, 5.00%, 01/01/23		280		310,002
Northside Independent School District GO
3.00%, 08/15/23 (PSF)		115		124,888
5.00%, 06/15/23 (PSF)		25		28,462
5.00%, 08/15/23 (PSF)		370		424,175
Northwest Independent School District GO
Series A, 5.00%, 02/15/23 (PSF)		200		224,228
Series B, 5.00%, 02/15/23 (PSF)		120		134,537
Pasadena Independent School District GO, 5.00%, 02/15/23 (PSF)		95		106,585
Permanent University Fund — Texas A&M University System RB
5.00%, 07/01/23		200		227,872
Series A, 5.00%, 07/01/23		170		193,691
Series A, 5.25%, 07/01/23		170		194,924
Permanent University Fund — University of Texas System RB
Series A, 5.00%, 07/01/23		25		28,461
Series B, 5.00%, 07/01/23		140		159,379
Plano Independent School District GO, 5.00%, 02/15/23 (PSF)		340		382,109
Prosper Independent School District GO, 5.00%, 02/15/23 (PSF)		175		196,152
Round Rock Independent School District GO, 5.00%, 08/01/23 (PSF)		60		68,657
San Angelo Independent School District GO, Series A, 5.00%, 02/15/23 (PSF)		190		212,811
San Antonio Water System RB
Series A, 5.00%, 05/15/23		245		277,877
Series B, 5.00%, 05/15/23		160		181,471
Southwest Higher Education Authority Inc. RB, 5.00%, 10/01/23		100		113,808
Spring Branch Independent School District GOL, 5.00%, 02/01/23 (PSF)		60		67,190
Spring Independent School District GO, 5.00%, 08/15/23 (PSF)		420		481,085
State of Texas GO
5.00%, 04/01/23		150		169,336
5.00%, 08/01/23		150		171,739
5.00%, 10/01/23		560		645,523
Series A, 5.00%, 10/01/23		75		86,454
Series A, 5.00%, 10/01/23		450		518,724
Series B-1, 5.00%, 08/01/23		45		51,522
Series D, 5.00%, 05/15/23		100		113,479


Security	Par (000)		Value

Texas (continued)
State of Texas GOL, 5.00%, 08/01/23	$	175	$	200,363
Tarrant County Cultural Education Facilities Finance Corp. RB
5.00%, 08/15/23		100		113,048
5.00%, 12/01/23		40		45,844
Tarrant Regional Water District RB
5.00%, 03/01/23		305		342,423
Series A, 5.00%, 03/01/23		145		162,791
Texas A&M University RB
Series B, 5.00%, 05/15/23		155		175,660
Series D, 5.00%, 05/15/23		35		39,665
Series E, 5.00%, 05/15/23		135		152,994
Texas State Technical College RB, 5.00%, 10/15/23		20		23,056
Texas State University System RB
5.00%, 03/15/23		140		157,317
Series A, 5.00%, 03/15/23		535		601,174
Texas Transportation Commission State Highway Fund RB
5.00%, 10/01/23		780		898,583
Series A, 5.00%, 04/01/23		135		152,326
Texas Water Development Board RB
5.00%, 04/15/23		100		113,078
Series A, 5.00%, 04/15/23		325		367,504
Series B, 5.00%, 10/15/23		200		230,906
Trinity River Authority Central Regional Wastewater System Revenue RB, 5.00%, 08/01/23		50		57,085
Trinity River Authority RB, 5.00%, 02/01/23		155		172,831
United Independent School District GO, 5.00%, 08/15/23 (PSF)		25		28,595
University of Houston RB, 4.00%, 02/15/23		50		54,583
University of North Texas System RB, Series A, 5.00%, 04/15/23		100		112,644
University of Texas System (The) RB
5.00%, 08/15/23		460		527,201
Series A, 5.00%, 08/15/23		220		252,140
Series C, 5.00%, 08/15/23		375		429,784
Series H, 5.00%, 08/15/23		25		28,652
Series I, 5.00%, 08/15/23		375		429,784
Series J, 5.00%, 08/15/23		100		114,609

				30,970,258

Utah — 2.6%
Alpine School District/UT GO, 5.00%, 03/15/23 (GTD)		375		422,539
Central Utah Water Conservancy District RB, Series A, 5.00%, 10/01/23		110		126,799
City of Salt Lake City UT Public Utilities Revenue RB, 5.00%, 02/01/23		100		112,223
County of Salt Lake UT RB, 5.00%, 08/15/30 (PR 08/15/23)		1,750		2,004,240
Davis School District GO, 5.00%, 06/01/23 (GTD)		165		187,493
Intermountain Power Agency RB, 5.00%, 07/01/23		200		227,558
Jordan Valley Water Conservancy District RB, Series B, 5.00%, 10/01/23		75		86,402
University of Utah (The) RB
5.00%, 08/01/23		205		234,645
Series A, 5.00%, 08/01/23 (SAP)		275		314,768
Series B, 5.00%, 08/01/23		175		200,307
Series B, 5.00%, 08/01/27 (PR 08/01/23)		1,075		1,227,446
Series B, 5.00%, 08/01/28 (PR 08/01/23)		565		645,122
Utah State Building Ownership Authority RB, 5.00%, 05/15/23		300		339,540
Utah Transit Authority RB, Series A, 5.00%, 06/15/23		245		278,249


Security	Par (000)		Value

Utah (continued)
Washington County School District Board of Education/St George GO, 5.00%, 03/01/23 (GTD)	$	110	$	123,587

				6,530,918

Vermont — 0.1%
State of Vermont GO, Series B, 5.00%, 08/15/23		100		114,675
University of Vermont & State Agricultural College RB, 5.00%, 10/01/23		25		28,393
Vermont Municipal Bond Bank RB, Series 4, 5.00%, 12/01/23		25		28,985

				172,053

Virginia — 5.5%
Chesapeake Bay Bridge & Tunnel District RB, 5.00%, 11/01/23		1,000		1,115,200
City of Falls Church VA GO, 5.00%, 07/15/23		250		285,780
City of Hampton VA GO, Series A, 5.00%, 09/01/23 (SAW)		10		11,488
City of Newport News VA GO, Series A, 5.00%, 08/01/23		60		68,715
City of Norfolk VA GO
5.00%, 08/01/23 (SAW)		335		383,460
Series A, 5.00%, 08/01/23 (SAW)		35		40,073
City of Richmond VA Public Utility Revenue RB, 5.00%, 01/15/23		40		44,760
Commonwealth of Virginia GO
Series B, 4.00%, 06/01/23		500		555,120
Series B, 5.00%, 06/01/23		100		113,693
County of Chesterfield VA Water & Sewer Revenue RB, 5.00%, 11/01/23		70		80,987
County of Fairfax VA GO
Series A, 5.00%, 10/01/23 (SAW)		700		807,387
Series B, 5.00%, 04/01/23 (SAW)		75		84,711
Series B, 5.00%, 10/01/23 (SAW)		365		420,995
County of Henrico VA GO, Series A, 5.00%, 08/01/23		105		120,320
County of Loudoun VA GO
Series A, 5.00%, 12/01/23		75		87,091
Series A, 5.00%, 12/01/23 (SAW)		335		389,005
County of Prince William VA COP, 5.00%, 10/01/23		100		114,896
County of Prince William VA GO, 5.00%, 08/01/23 (SAW)		100		114,493
Fairfax County Water Authority RB, 5.00%, 04/01/23		315		355,698
Hampton Roads Sanitation District RB, Series A, 5.00%, 07/01/23		500		570,465
Town of Leesburg VA GO, 5.00%, 01/15/23		125		139,876
Virginia College Building Authority RB
5.00%, 02/01/23		95		106,282
Series A, 5.00%, 02/01/23		225		252,200
Series A, 5.00%, 02/01/28 (PR 02/01/23)		1,025		1,148,041
Series E-1, 5.00%, 02/01/23		245		274,618
Series E-2, 5.00%, 02/01/23		555		622,094
Virginia Commonwealth Transportation Board RB
5.00%, 05/15/23		555		629,808
5.00%, 09/15/23		115		132,324
5.00%, 09/15/23 (PR 03/15/23)		1,100		1,238,512
Series A, 5.00%, 05/15/23		130		147,523
Series C, 5.00%, 05/15/23		90		102,131
Virginia Public Building Authority RB
5.00%, 08/01/23		215		246,368
Series C, 5.00%, 08/01/23		165		189,074
Series A, 4.00%, 08/01/23		75		83,703
Series A, 5.00%, 08/01/26 (PR 08/01/23)		195		222,967
Series B, 5.00%, 08/01/23		660		756,294
Virginia Public School Authority RB
5.00%, 03/01/23 (SAW)		150		168,528


Security	Par (000)		Value

Virginia (continued)
5.00%, 07/15/23 (SAW)	$	25	$	28,530
5.00%, 08/01/23 (SAW)		325		372,417
Series B, 5.00%, 08/01/23		100		114,590
Series A, 5.00%, 08/01/23 (SAW)		210		240,640
Series B, 5.00%, 08/01/23 (SAW)		80		91,672
Virginia Resources Authority RB
5.00%, 10/01/23		315		363,214
5.00%, 11/01/23		185		214,038
Series A, 4.00%, 11/01/23		75		84,347

				13,734,128

Washington — 5.6%
City of Seattle WA Drainage & Wastewater Revenue RB, 5.00%, 07/01/23		50		57,015
City of Seattle WA GO, 5.00%, 12/01/23		100		116,012
City of Seattle WA GOL
5.00%, 11/01/23		100		115,625
Series A, 5.00%, 04/01/23		445		502,240
City of Seattle WA Municipal Light & Power Revenue RB
Series B, 5.00%, 04/01/23		300		338,502
Series C, 5.00%, 09/01/23		25		28,704
Series C, 5.00%, 10/01/23		175		201,667
City of Seattle WA Water System Revenue RB, 5.00%, 05/01/23		160		181,173
City of Spokane WA Water & Wastewater Revenue RB, 5.00%, 12/01/23		295		342,023
City of Tacoma WA Electric System Revenue RB, 5.00%, 01/01/23		205		228,538
Clark County Public Utility District No. 1 RB, Series 1, 5.00%, 01/01/23		60		66,812
Clark County School District No. 117 Camas GO, 5.00%, 12/01/23 (GTD)		100		116,048
County of King WA GOL
5.00%, 07/01/23		385		438,896
5.25%, 01/01/23		115		129,043
Series B, 5.00%, 12/01/23		165		191,301
Series E, 5.00%, 12/01/23		165		191,301
County of King WA Sewer Revenue RB, Series B, 5.00%, 07/01/23		310		353,397
County of Snohomish WA GOL, 5.00%, 12/01/23		25		28,985
Energy Northwest RB
5.00%, 07/01/23		110		125,330
Series A, 5.00%, 07/01/23		1,215		1,384,323
Grant County Public Utility District No. 2 RB, Series A, 5.00%, 01/01/23		250		278,732
King County School District No. 216 Enumclaw GO, 5.00%, 12/01/23 (GTD)		50		57,807
King County School District No. 401 Highline GO, 5.00%, 12/01/23 (GTD)		25		28,904
King County School District No. 403 Renton GO, 5.00%, 12/01/23 (GTD)		125		144,925
King County School District No. 405 Bellevue GO, 5.00%, 12/01/23 (GTD)		665		770,515
King County School District No. 411 Issaquah GO, 5.00%, 12/01/23 (GTD)		255		295,647
King County School District No. 415 Kent GO, 5.00%, 12/01/23 (GTD)		90		103,955
Pierce County School District No. 320 Sumner GO, 5.00%, 12/01/23 (GTD)		175		202,830
Pierce County School District No. 403 Bethel GO, 5.00%, 06/01/23 (GTD)		65		73,900


Security	Par (000)		Value

Washington (continued)
Pierce County School District No. 416 White River GO, 5.00%, 12/01/23 (GTD)	$	20	$	23,173
Port of Seattle WA GOL
5.00%, 01/01/23		55		61,400
5.00%, 06/01/23		180		204,538
Port of Seattle WA RB, Series B, 5.00%, 03/01/23		70		77,689
Port of Tacoma WA GOL, Series A, 5.00%, 12/01/23		100		115,940
Port of Tacoma WA RB, Series A, 4.00%, 12/01/23		125		140,473
Skagit County School District No. 103 Anacortes GO, 5.00%, 12/01/23 (GTD)		25		28,904
Snohomish County School District No. 15 Edmonds GO, 4.00%, 12/01/23 (GTD)		20		22,511
Snohomish County School District No. 201 Snohomish GO, 5.00%, 12/01/23 (GTD)		120		138,737
Snohomish County School District No. 4 Lake Stevens GO, 5.00%, 12/01/23 (GTD)		140		161,860
Snohomish County School District No. 6 Mukilteo GO, 5.00%, 12/01/23 (GTD)		245		283,874
Spokane & Whitman Counties School District No. 360 Cheney GO, 5.00%, 12/01/23 (GTD)		65		75,337
State of Washington COP
Series A, 5.00%, 07/01/23		370		420,982
Series B, 5.00%, 07/01/23		235		267,381
State of Washington GO
5.00%, 02/01/23		300		336,267
5.00%, 08/01/23		100		114,493
Series C, 5.00%, 02/01/23		350		392,311
Series A, 5.00%, 08/01/23		390		446,522
Series B, 5.00%, 07/01/23		345		393,620
Series B, 5.00%, 08/01/23		110		125,942
Series C, 5.50%, 07/01/23		135		148,900
Series D, 5.00%, 02/01/23		160		179,342
Series R, 4.00%, 07/01/23		75		83,394
Series R, 5.00%, 07/01/23		90		102,684
Series R-2015, 5.00%, 07/01/23		300		342,279
Series R-2017A, 5.00%, 08/01/23		215		246,160
Series R-C, 5.00%, 07/01/23		375		427,849
State of Washington RB
Series C, 5.00%, 09/01/23		445		508,275
Series E, 5.25%, 02/01/23		150		169,067
University of Washington RB
Series A, 4.00%, 12/01/23		95		106,996
Series B, 4.00%, 06/01/23		135		149,558
Series C, 5.00%, 12/01/23		100		115,940
Washington State University RB
5.00%, 04/01/23		315		353,455
5.00%, 10/01/23		120		137,342
Yakima County School District No. 90 East Valley GO, 5.00%, 12/01/23 (GTD)		15		17,353

				14,014,698

West Virginia — 0.6%
State of West Virginia GO
Series A, 5.00%, 06/01/23		565		641,331
Series A, 5.00%, 11/01/23		55		63,381
Series A, 5.00%, 12/01/23		100		115,831
West Virginia Parkways Authority RB, 5.00%, 06/01/23		260		295,204
West Virginia State School Building Authority Lottery RB,
Series A, 5.00%, 07/01/23		150		170,435


Security	Par/ Shares (000)		Value

West Virginia (continued)
West Virginia Water Development Authority RB, Series A, 5.00%, 07/01/23	$	100	$	113,685

				1,399,867

Wisconsin — 4.1%
City of Madison WI GO, Series A, 4.00%, 10/01/23		215		240,411
City of Madison WI Water Utility Revenue RB, 5.00%, 01/01/23		50		55,741
City of Milwaukee WI GO, Series N1, 5.00%, 02/01/23		270		300,132
Milwaukee County Metropolitan Sewer District GO, Series A, 5.00%, 10/01/23		275		316,245
State of Wisconsin Clean Water Fund Leveraged Loan Portfolio RB, Series 2, 5.00%, 06/01/23		115		128,910
State of Wisconsin Environmental Improvement Fund Revenue RB, Series A, 5.00%, 06/01/23		695		790,167
State of Wisconsin GO
4.00%, 05/01/23		55		60,838
5.00%, 05/01/23		100		113,351
5.00%, 11/01/23		430		497,643
Series D, 5.00%, 05/01/23		150		170,027
Series 1, 5.00%, 05/01/23		190		215,367
Series 1, 5.00%, 11/01/23		320		370,339
Series 2, 5.00%, 11/01/23		255		295,114
Series A, 5.00%, 05/01/28 (PR 05/01/23)		1,000		1,130,580
Series A, 5.00%, 05/01/29 (PR 05/01/23)		2,000		2,261,160
Series C, 5.00%, 05/01/23		40		45,340
State of Wisconsin RB, Series A, 5.00%, 05/01/23		245		277,565
Wisconsin Department of Transportation RB
5.00%, 07/01/23		100		114,062
Series 1, 4.00%, 07/01/23		70		77,856
Series 1, 5.00%, 07/01/23		235		268,191
Series 1, 5.00%, 07/01/26 (PR 07/01/23)		645		734,126
Series 1, 5.00%, 07/01/27 (PR 07/01/23)		615		700,946
Series 1, 5.00%, 07/01/30 (PR 07/01/23)		200		227,950
Series A, 5.00%, 07/01/23		455		519,264
Wisconsin Health & Educational Facilities Authority RB
5.00%, 08/15/23		115		129,376
Series A, 5.00%, 11/15/23		40		45,981
WPPI Energy RB
5.00%, 07/01/23		80		90,326
Series A, 5.00%, 07/01/23		150		169,361

				10,346,369


Total Municipal Debt Obligations — 98.7% (Cost: $238,845,445)				248,044,224


Short-Term Investments

Money Market Funds — 0.5%
BlackRock Liquidity Funds: MuniCash, 0.04%^(d)(e)		1,164		1,163,997


Total Short-Term Investments — 0.5% (Cost: $1,163,977)				1,163,997


Total Investments in Securities — 99.2% (Cost: $240,009,422)				249,208,221

Other Assets, Less Liabilities — 0.8%				2,136,132


Net Assets — 100.0%			$	251,344,353

Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2020, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at iShares.com and on the U.S. Securities and Exchange Commission website at sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of July 31, 2020. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.


Affiliated Issuer	Value at 10/31/19		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 07/31/20		Shares Held at 07/31/20 (000)		Income		Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds: MuniCash	$	280,733	$	882,995	^(a)	$	—	$	251	$	18	$	1,163,997		1,164	$	3,460	$	—


	Level 1		Level 2		Level 3		Total
Investments
Assets
Municipal Debt Obligations	$	—	$	248,044,224	$	—	$	248,044,224
Money Market Funds		1,163,997		—		—		1,163,997

	$	1,163,997	$	248,044,224	$	—	$	249,208,221


Portfolio Abbreviations — Fixed Income

AGC		Assured Guaranty Corp.

AGM		Assured Guaranty Municipal Corp.

AMBAC		Ambac Assurance Corp.

BAM		Build America Mutual Assurance Co.

COP		Certificates of Participation

ETM		Escrowed to Maturity

GO		General Obligation

GOL		General Obligation Limited

GTD		Guaranteed

HERBIP		Higher Education Revenue Bond Intercept Program

MO		Moral Obligation

NPFGC		National Public Finance Guarantee Corp.

PR		Prerefunded

PSF		Permanent School Fund

RB		Revenue Bond

SAP		Subject to Appropriations

SAW		State Aid Withholding

ST		Special Tax