Schedule of Investments  (unaudited) September 30, 2020 BlackRock Health Sciences Trust (BME) (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Biotechnology — 20.8%
Acceleron Pharma, Inc.(a)(b)		38,131	$	4,290,881
Acerta Pharma BV, Series B, (Acquired 2/01/2016, Cost: $986,402)(c)(d)		17,146,440		2,294,537
Agios Pharmaceuticals, Inc.(a)(b)		25,150		880,250
Alexion Pharmaceuticals, Inc.(a)(b)		26,878		3,075,650
Allakos, Inc.(a)(b)		31,025		2,526,986
Allogene Therapeutics, Inc.(a)(b)		30,786		1,160,940
Alnylam Pharmaceuticals, Inc.(a)(b)		31,968		4,654,541
Amgen, Inc.(a)		55,218		14,034,207
Annexon, Inc.(b)		16,780		507,259
Apellis Pharmaceuticals, Inc.(a)(b)		22,450		677,316
Arcutis Biotherapeutics, Inc.(b)(e)		5,322		155,935
Arena Pharmaceuticals, Inc.(a)(b)		18,854		1,410,091
Atreca, Inc., Class A(b)		19,453		271,758
Biogen, Inc.(a)(b)		10,940		3,103,459
BioMarin Pharmaceutical, Inc.(a)(b)		34,556		2,629,020
Blueprint Medicines Corp.(a)(b)		9,623		892,052
ChemoCentryx, Inc.(a)(b)		5,100		279,480
Dicerna Pharmaceuticals, Inc.(a)(b)		14,790		266,072
Eidos Therapeutics, Inc.(a)(b)		8,058		407,171
FibroGen, Inc.(a)(b)		5,980		245,898
Galapagos NV, ADR(a)(b)		5,792		821,943
Genfit , ADR(b)		1,238		6,586
Genmab A/S(b)		14,763		5,357,574
Genmab A/S, ADR(a)(b)		48,661		1,781,479
Gilead Sciences, Inc.(a)		76,057		4,806,042
Halozyme Therapeutics, Inc.(a)(b)		25,850		679,338
Humanigen, Inc.(b)(e)		20,679		220,025
Immunomedics, Inc.(a)(b)		32,291		2,745,704
Immunovant, Inc.(b)		35,971		1,265,819
Incyte Corp.(a)(b)		23,637		2,121,184
Intellia Therapeutics, Inc.(a)(b)		13,519		268,758
Iovance Biotherapeutics, Inc.(a)(b)		30,890		1,016,899
Kodiak Sciences, Inc.(a)(b)		9,010		533,482
Krystal Biotech, Inc.(b)		5,200		223,860
Mersana Therapeutics, Inc.(a)(b)		57,220		1,065,436
Mirati Therapeutics, Inc.(a)(b)		5,271		875,250
Molecular Templates, Inc.(a)(b)		21,176		231,242
Neurocrine Biosciences, Inc.(a)(b)		21,162		2,034,938
Passage Bio, Inc.(b)		8,140		106,715
Prothena Corp. PLC(a)(b)		21,000		209,790
Rapt Therapeutics, Inc.(b)		8,660		278,852
Regeneron Pharmaceuticals, Inc.(a)(b)		12,485		6,988,853
Relay Therapeutics, Inc.(b)		10,918		464,998
Sarepta Therapeutics, Inc.(a)(b)		8,718		1,224,269
Seattle Genetics, Inc.(a)(b)		62,768		12,283,070
Seres Therapeutics, Inc.(a)(b)		26,200		741,722
Taysha Gene Therapies, Inc.(b)		13,722		307,373
TCR2 Therapeutics, Inc.(a)(b)		10,160		206,451
Vertex Pharmaceuticals, Inc.(a)(b)		41,693		11,345,499
Vir Biotechnology, Inc.(a)(b)		7,660		262,968
				104,239,622
Diversified Financial Services(b) — 0.4%
ARYA Sciences Acquisition Corp. II		12,589		138,479
ARYA Sciences Acquisition Corp. III, Class A		16,560		177,523
BCTG Acquisition Corp		8,720		94,525
Deerfield Healthcare Technology Acquisitions Corp		21,007		223,304
FS Development Corp., Class A		16,513		184,946

Security	Shares		Value
Diversified Financial Services (continued)
Health Sciences Acquisitions Corp		13,696	$	150,656
Longview Acquisition Corp		35,345		358,752
Panacea Acquisition Corp		12,152		145,824
Therapeutics Acquisition Corp., Class A		27,000		388,260
				1,862,269
Health Care Equipment & Supplies — 30.3%
Abbott Laboratories(a)		236,025		25,686,601
ABIOMED, Inc.(a)(b)		10,647		2,949,858
Alcon AG(a)(b)		115,493		6,577,326
Baxter International, Inc.(a)		125,666		10,106,060
Becton Dickinson and Co.(a)		30,953		7,202,144
Boston Scientific Corp.(a)(b)		366,053		13,986,885
Edwards Lifesciences Corp.(a)(b)		157,245		12,551,296
Envista Holdings Corp.(b)		36,720		906,250
Intuitive Surgical, Inc.(a)(b)		14,158		10,045,667
Kangji Medical Holdings Ltd., (Acquired 06/22/2020, Cost: $479,242)(b)(d)		264,936		650,177
Masimo Corp.(a)(b)		29,400		6,940,164
Medtronic PLC(a)		140,686		14,620,089
Nevro Corp.(a)(b)		13,352		1,859,934
ResMed, Inc.(a)		25,314		4,339,579
SI-BONE, Inc.(b)		4,237		100,502
Silk Road Medical, Inc.(a)(b)		9,292		624,515
Straumann Holding AG, Registered Shares		2,500		2,529,003
Stryker Corp.(a)		59,696		12,438,855
Teleflex, Inc.(a)		19,140		6,515,639
Varian Medical Systems, Inc.(b)		39,799		6,845,428
Zimmer Biomet Holdings, Inc.(a)		30,125		4,101,217
				151,577,189
Health Care Providers & Services — 18.4%
Amedisys, Inc.(a)(b)		19,072		4,509,193
AmerisourceBergen Corp.(a)		14,280		1,384,018
Anthem, Inc.(a)		37,297		10,017,601
Cardinal Health, Inc.(a)		25,630		1,203,328
Centene Corp.(a)(b)		83,954		4,897,037
Cigna Corp.(a)		53,197		9,012,104
Encompass Health Corp.(a)		40,167		2,610,052
Humana, Inc.(a)		29,780		12,325,644
LHC Group, Inc.(a)(b)		20,224		4,298,813
McKesson Corp.(a)		6,180		920,387
Oak Street Health, Inc.(b)		8,409		449,377
Oak Street Health Inc., (Acquired 03/04/2020, Cost: $575,147)(d)		54,700		2,821,669
Quest Diagnostics, Inc.(a)		12,824		1,468,220
UnitedHealth Group, Inc.(a)(f)		115,262		35,935,234
				91,852,677
Health Care Technology(b) — 0.9%
GoodRx Holdings, Inc., Class A		5,858		325,705
Livongo Health, Inc.(a)		8,920		1,249,246
Teladoc Health, Inc.(a)		13,170		2,887,391
				4,462,342
Insurance(b) — 0.1%
GoHealth, Inc., Class A		36,551		476,077
Selectquote, Inc.(a)		9,800		198,450
				674,527
Life Sciences Tools & Services — 7.7%
Agilent Technologies, Inc.(a)		13,960		1,409,122
Avantor, Inc.(a)(b)		131,114		2,948,754

SCHEDULE OF INVESTMENTS 1

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Health Sciences Trust (BME) (Percentages shown are based on Net Assets)

Security	Shares		Value
Life Sciences Tools & Services (continued)
Illumina, Inc.(a)(b)		14,172	$	4,380,282
IQVIA Holdings, Inc.(a)(b)		25,673		4,046,835
PPD, Inc.(a)(b)		79,280		2,932,567
Thermo Fisher Scientific, Inc.(a)		37,181		16,416,155
WuXi AppTec Co. Ltd., Class H(g)		225,785		3,265,024
Wuxi Biologics Cayman, Inc.(b)(g)		120,500		2,953,221
				38,351,960
Pharmaceuticals — 20.7%
AstraZeneca PLC		15,836		1,730,311
Bristol-Myers Squibb Co.(a)		167,123		10,075,846
Eisai Co. Ltd		30,500		2,785,635
Eli Lilly & Co.(a)		75,883		11,232,202
Hansoh Pharmaceutical Group Ltd.(b)(g)		882,438		4,313,037
Hua Medicine(b)(e)(g)		735,105		473,310
Johnson & Johnson(a)		157,637		23,468,996
Merck & Co., Inc.(a)		103,567		8,590,883
Merck KGaA		25,216		3,676,300
MyoKardia, Inc.(a)(b)		6,691		912,184
Nektar Therapeutics(a)(b)		24,513		406,671
Ocumension Therapeutics, (Acquired 07/06/2020, Cost: $65,918)(b)(d)(g)		34,500		100,999
Pfizer, Inc.(a)		324,195		11,897,956
Roche Holding AG		12,627		4,325,260
Royalty Pharma PLC, Class A(a)		15,446		649,813
Sanofi		68,455		6,860,000
Sanofi, ADR(a)		54,625		2,740,536
Zoetis, Inc.(a)		54,489		9,010,846
				103,250,785
Total Common Stocks — 99.3% (Cost: $305,458,953)				496,271,371
	Par (000)
Corporate Bonds
Biotechnology — 0.1%
Kronos Bio, Inc, (Acquired: 08/20/2020, Cost: $260,000), 0.00%, 02/14/22(c)(d)(h)	$	260		260,000
Total Corporate Bonds — 0.1% (Cost: $260,000)				260,000
	Benefical Interest (000)
Other Interests
Pharmaceuticals — 0.0%
Afferent Pharmaceuticals, Inc.(c)(i)	$	190		252,913
Total Other Interests — 0.0% (Cost:$—)				252,913
	Shares
Preferred Securities
Preferred Stocks — 0.5%
Biotechnology — 0.5%
Annexon, Inc., Series D, (Acquired 06/26/2020, Cost:$190,006)(d)		15,164		444,146
Arcutis Biotherapeutics, Inc		37,056		1,085,741

Security	Shares		Value
Biotechnology (continued)
Goldfinch Bio, Inc., Series B, (Acquired 06/26/2020, Cost: $149,465)(c)(d)		126,665	$	149,465
Sigilon Therapeutics, Inc., Series B, (Acquired 02/14/2020, Cost: $264,000)(c)(d)		44,000		266,200
Taysha Gene Therapies, Inc., Series B, (Acquired 07/30/2020, Cost: $268,600)(d)		17,214		366,956
Total Preferred Securities — 0.5% (Cost: $1,303,168)				2,312,508
Total Long-Term Investments — 99.9% (Cost: $307,022,121)				499,096,792
Short-Term Securities
Money Market Funds — 1.3%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.02%(i)(j)		6,247,858		6,247,858
SL Liquidity Series, LLC, Money Market Series, 0.25%(i)(j)(k)		187,003		187,077
Total Short-Term Securities — 1.3% (Cost: $6,434,933)				6,434,935
Total Investments Before Options Written — 101.2% (Cost: $313,457,054)				505,531,727
Options Written — (1.2)% (Premiums Received: $(5,767,781))				(6,168,025	)
Total Investments, Net of Options Written — 100.0% (Cost: $307,689,273)				499,363,702
Other Assets Less Liabilities — 0.0%				225,477
Net Assets — 100.0%			$	499,589,179

^(a)  All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written.

^(b)  Non-income producing security.

^(c)  Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(d)  Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $7,354,149, representing 1.47% of its net assets as of period end, and an original cost of $3,238,780.

^(e)  All or a portion of this security is on loan.

^(f)  All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives.

^(g)  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.

^(h)  Zero-coupon bond

⁽ⁱ⁾  Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

^(j)  Affiliate of the Trust.

^(k) Annualized 7-day yield as of period end.

^(l)  All or a portion of this security was purchased with the cash collateral from loaned securities.

2

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Health Sciences Trust (BME)

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 2020, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 12/31/19		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 09/30/20		Shares Held at 09/30/20		Income			Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class	$	3,489,138$		2,758,720	(a)	$	—		$	—		$	—		$	6,247,858		6,247,858	$	30,789		$	—
SL Liquidity Series, LLC, Money Market Series		253,877		—			(66,435	)(a)		(363	)		(2	)		187,077		187,003		7,259	(b)		—
									$	(363	)	$	(2	)	$	6,434,935			$	38,048		$	—

^(a)  Represents net amount purchased (sold).

^(b)  All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

For Trust compliance purposes, the Trust’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

Derivative Financial Instruments Outstanding as of Period End

Exchange-Traded Options Written

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call
Abbott Laboratories		174		10/02/20	USD	103.00	USD	1,894	$	(103,095	)
AmerisourceBergen Corp		27		10/02/20	USD	98.50	USD	262		(1,013	)
Amgen, Inc		58		10/02/20	USD	242.50	USD	1,474		(75,835	)
Becton Dickinson and Co		49		10/02/20	USD	265.00	USD	1,140		(6,125	)
Biogen, Inc		18		10/02/20	USD	287.50	USD	511		(2,430	)
Boston Scientific Corp		190		10/02/20	USD	40.50	USD	726		(760	)
Johnson & Johnson		123		10/02/20	USD	152.50	USD	1,831		(1,169	)
Masimo Corp		116		10/02/20	USD	229.00	USD	2,738		(89,074	)
Medtronic PLC		95		10/02/20	USD	102.00	USD	987		(17,432	)
Regeneron Pharmaceuticals, Inc		4		10/02/20	USD	630.00	USD	224		(110	)
Sarepta Therapeutics, Inc		17		10/02/20	USD	157.50	USD	239		(2,550	)
Teladoc Health, Inc		52		10/02/20	USD	230.00	USD	1,140		(4,290	)
UnitedHealth Group, Inc		145		10/02/20	USD	317.50	USD	4,521		(13,775	)
Vertex Pharmaceuticals, Inc		22		10/02/20	USD	280.00	USD	599		(1,100	)
Vertex Pharmaceuticals, Inc		11		10/02/20	USD	267.50	USD	299		(5,555	)
Zoetis, Inc		91		10/02/20	USD	160.00	USD	1,505		(48,230	)
Abbott Laboratories		219		10/09/20	USD	116.00	USD	2,383		(8,322	)
Alexion Pharmaceuticals, Inc		31		10/09/20	USD	109.00	USD	355		(20,460	)
Anthem, Inc		75		10/09/20	USD	282.50	USD	2,014		(6,938	)
Anthem, Inc		74		10/09/20	USD	272.50	USD	1,988		(28,120	)
Baxter International, Inc		240		10/09/20	USD	88.00	USD	1,930		(2,400	)
Baxter International, Inc		62		10/09/20	USD	84.00	USD	499		(930	)
Becton Dickinson and Co		24		10/09/20	USD	242.50	USD	558		(1,500	)
Bristol-Myers Squibb Co		237		10/09/20	USD	63.00	USD	1,429		(2,133	)
Cardinal Health, Inc		98		10/09/20	USD	51.00	USD	460		(980	)
Centene Corp		2		10/09/20	USD	64.00	USD	12		(32	)
Edwards Lifesciences Corp		1		10/09/20	USD	86.50	USD	8		(35	)
Humana, Inc		23		10/09/20	USD	425.00	USD	952		(7,475	)
Humana, Inc		19		10/09/20	USD	407.50	USD	786		(23,560	)
Illumina, Inc		35		10/09/20	USD	357.50	USD	1,082		(2,100	)
Intuitive Surgical, Inc		12		10/09/20	USD	730.00	USD	851		(10,920	)
Johnson & Johnson		142		10/09/20	USD	150.00	USD	2,114		(19,241	)
Medtronic PLC		190		10/09/20	USD	105.51	USD	1,974		(17,936	)
Pfizer, Inc		155		10/09/20	USD	38.50	USD	569		(1,783	)
PPD, Inc		237		10/09/20	USD	32.25	USD	877		(113,082	)
Regeneron Pharmaceuticals, Inc		12		10/09/20	USD	570.00	USD	672		(12,420	)
Sarepta Therapeutics, Inc		17		10/09/20	USD	157.50	USD	239		(1,870	)

SCHEDULE OF INVESTMENTS 3

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Health Sciences Trust (BME)

Exchange-Traded Options Written (continued)

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
UnitedHealth Group, Inc		140		10/09/20	USD	315.00	USD	4,365	$	(51,170	)
Vertex Pharmaceuticals, Inc		91		10/09/20	USD	287.50	USD	2,476		(8,873	)
Abbott Laboratories		189		10/16/20	USD	110.00	USD	2,057		(33,736	)
ABIOMED, Inc		21		10/16/20	USD	280.00	USD	582		(16,590	)
Acceleron Pharma, Inc		58		10/16/20	USD	100.00	USD	653		(75,980	)
Agilent Technologies, Inc		55		10/16/20	USD	100.00	USD	555		(14,025	)
Agios Pharmaceuticals, Inc		50		10/16/20	USD	45.00	USD	175		(625	)
Alcon AG		230		10/16/20	USD	60.00	USD	1,310		(9,200	)
Alexion Pharmaceuticals, Inc		1		10/16/20	USD	120.00	USD	11		(268	)
Allakos, Inc		37		10/16/20	USD	100.00	USD	301		(18,500	)
Alnylam Pharmaceuticals, Inc		64		10/16/20	USD	150.00	USD	932		(22,400	)
Amedisys, Inc		3		10/16/20	USD	250.00	USD	71		(773	)
Amgen, Inc		57		10/16/20	USD	250.00	USD	1,449		(47,167	)
Apellis Pharmaceuticals, Inc		45		10/16/20	USD	30.80	USD	136		(6,227	)
Arena Pharmaceuticals, Inc		58		10/16/20	USD	70.00	USD	434		(36,250	)
Avantor, Inc		265		10/16/20	USD	22.50	USD	596		(21,862	)
Biogen, Inc		25		10/16/20	USD	285.00	USD	709		(14,500	)
BioMarin Pharmaceutical, Inc		138		10/16/20	USD	80.00	USD	1,050		(15,870	)
Blueprint Medicines Corp		19		10/16/20	USD	80.00	USD	176		(25,460	)
Boston Scientific Corp		322		10/16/20	USD	41.00	USD	1,230		(3,864	)
ChemoCentryx, Inc		10		10/16/20	USD	75.00	USD	55		(1,925	)
ChemoCentryx, Inc		10		10/16/20	USD	70.00	USD	55		(2,525	)
Cigna Corp		75		10/16/20	USD	195.00	USD	1,271		(1,350	)
Dicerna Pharmaceuticals, Inc		30		10/16/20	USD	22.50	USD	54		(900	)
Eidos Therapeutics, Inc		32		10/16/20	USD	50.00	USD	162		(8,640	)
FibroGen, Inc		23		10/16/20	USD	47.50	USD	95		(10,350	)
Galapagos NV, ADR		11		10/16/20	USD	155.00	USD	156		(2,173	)
Genmab A/S, ADR		150		10/16/20	USD	40.00	USD	549		(4,500	)
GoodRx Holdings, Inc., Class A		12		10/16/20	USD	65.00	USD	67		(1,950	)
Immunomedics, Inc		92		10/16/20	USD	48.00	USD	782		(345,000	)
Intellia Therapeutics, Inc		27		10/16/20	USD	25.00	USD	54		(945	)
Intuitive Surgical, Inc		15		10/16/20	USD	760.00	USD	1,064		(12,000	)
Iovance Biotherapeutics, Inc		62		10/16/20	USD	30.00	USD	204		(26,660	)
IQVIA Holdings, Inc		51		10/16/20	USD	160.00	USD	804		(13,387	)
Johnson & Johnson		160		10/16/20	USD	155.00	USD	2,382		(11,760	)
Kodiak Sciences, Inc		13		10/16/20	USD	50.00	USD	77		(13,455	)
LHC Group, Inc		17		10/16/20	USD	210.00	USD	361		(11,815	)
Livongo Health, Inc		35		10/16/20	USD	140.00	USD	490		(26,075	)
Masimo Corp		16		10/16/20	USD	240.00	USD	378		(9,360	)
Medtronic PLC		34		10/16/20	USD	110.00	USD	353		(901	)
Merck & Co., Inc		153		10/16/20	USD	87.50	USD	1,269		(2,295	)
Mersana Therapeutics, Inc		114		10/16/20	USD	25.00	USD	212		(3,135	)
Mirati Therapeutics, Inc		11		10/16/20	USD	145.00	USD	183		(28,710	)
MyoKardia, Inc		13		10/16/20	USD	110.00	USD	177		(34,905	)
MyoKardia, Inc		13		10/16/20	USD	130.00	USD	177		(13,260	)
Nektar Therapeutics		49		10/16/20	USD	19.50	USD	81		(1,225	)
Neurocrine Biosciences, Inc		70		10/16/20	USD	115.00	USD	673		(2,450	)
Nevro Corp		26		10/16/20	USD	135.00	USD	362		(20,540	)
Pfizer, Inc		295		10/16/20	USD	37.00	USD	1,083		(20,502	)
PPD, Inc		80		10/16/20	USD	35.00	USD	296		(21,200	)
Prothena Corp. PLC		84		10/16/20	USD	11.00	USD	84		(2,310	)
Quest Diagnostics, Inc		2		10/16/20	USD	120.00	USD	23		(175	)
ResMed, Inc		50		10/16/20	USD	185.00	USD	857		(3,750	)
Royalty Pharma PLC, Class A		31		10/16/20	USD	50.00	USD	130		(620	)
Sanofi, ADR		152		10/16/20	USD	50.00	USD	763		(19,380	)
Seattle Genetics, Inc		127		10/16/20	USD	170.00	USD	2,485		(337,820	)
Seattle Genetics, Inc		124		10/16/20	USD	180.00	USD	2,427		(216,380	)
Selectquote, Inc		13		10/16/20	USD	25.00	USD	26		(130	)
Silk Road Medical, Inc		9		10/16/20	USD	55.00	USD	60		(10,980	)
Stryker Corp		118		10/16/20	USD	195.00	USD	2,459		(173,460	)
TCR2 Therapeutics, Inc		20		10/16/20	USD	22.50	USD	41		(1,350	)
Teleflex, Inc		38		10/16/20	USD	380.00	USD	1,294		(5,700	)

4

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Health Sciences Trust (BME)

Exchange-Traded Options Written (continued)

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
Thermo Fisher Scientific, Inc		150		10/16/20	USD	440.00	USD	6,623	$	(148,500	)
Vir Biotechnology, Inc		29		10/16/20	USD	55.00	USD	100		(435	)
Zimmer Biomet Holdings, Inc		111		10/16/20	USD	150.00	USD	1,511		(5,550	)
Amgen, Inc		44		10/23/20	USD	257.50	USD	1,118		(29,370	)
Baxter International, Inc		55		10/23/20	USD	83.50	USD	442		(3,988	)
Becton Dickinson and Co		50		10/23/20	USD	245.00	USD	1,163		(9,125	)
Boston Scientific Corp		360		10/23/20	USD	43.00	USD	1,376		(10,440	)
Bristol-Myers Squibb Co		91		10/23/20	USD	60.00	USD	549		(12,240	)
Cardinal Health, Inc		4		10/23/20	USD	50.00	USD	19		(170	)
Centene Corp		145		10/23/20	USD	59.50	USD	846		(24,940	)
Cigna Corp		72		10/23/20	USD	172.50	USD	1,220		(28,980	)
Eli Lilly & Co		86		10/23/20	USD	155.00	USD	1,273		(9,890	)
Humana, Inc		19		10/23/20	USD	407.50	USD	786		(31,255	)
Humana, Inc		18		10/23/20	USD	402.50	USD	745		(35,280	)
Intuitive Surgical, Inc		17		10/23/20	USD	720.00	USD	1,206		(41,225	)
Johnson & Johnson		82		10/23/20	USD	152.50	USD	1,221		(14,965	)
Medtronic PLC		125		10/23/20	USD	110.00	USD	1,299		(8,000	)
Merck & Co., Inc		154		10/23/20	USD	85.50	USD	1,277		(12,089	)
Pfizer, Inc		294		10/23/20	USD	38.00	USD	1,079		(17,052	)
UnitedHealth Group, Inc		57		10/23/20	USD	317.50	USD	1,777		(38,475	)
Vertex Pharmaceuticals, Inc		42		10/23/20	USD	277.50	USD	1,143		(28,350	)
Abbott Laboratories		362		10/30/20	USD	104.00	USD	3,940		(280,550	)
AmerisourceBergen Corp		30		10/30/20	USD	99.50	USD	291		(7,650	)
Baxter International, Inc		145		10/30/20	USD	82.00	USD	1,166		(29,362	)
Boston Scientific Corp		201		10/30/20	USD	40.00	USD	768		(16,080	)
Bristol-Myers Squibb Co		170		10/30/20	USD	60.00	USD	1,025		(25,500	)
Centene Corp		188		10/30/20	USD	57.00	USD	1,097		(66,740	)
Cigna Corp		65		10/30/20	USD	167.50	USD	1,101		(50,050	)
Edwards Lifesciences Corp		315		10/30/20	USD	79.50	USD	2,514		(92,925	)
Eli Lilly & Co		129		10/30/20	USD	152.50	USD	1,909		(35,152	)
Gilead Sciences, Inc		304		10/30/20	USD	64.00	USD	1,921		(60,040	)
Humana, Inc		21		10/30/20	USD	410.00	USD	869		(35,490	)
Humana, Inc		18		10/30/20	USD	400.00	USD	745		(42,210	)
Johnson & Johnson		61		10/30/20	USD	152.50	USD	908		(12,475	)
Medtronic PLC		23		10/30/20	USD	104.00	USD	239		(7,107	)
Merck & Co., Inc		107		10/30/20	USD	85.00	USD	888		(17,066	)
Regeneron Pharmaceuticals, Inc		33		10/30/20	USD	590.00	USD	1,847		(39,270	)
UnitedHealth Group, Inc		65		10/30/20	USD	322.50	USD	2,026		(39,000	)
Zoetis, Inc		126		10/30/20	USD	162.50	USD	2,084		(73,710	)
Boston Scientific Corp		201		11/06/20	USD	38.50	USD	768		(40,501	)
Eli Lilly & Co		88		11/06/20	USD	152.50	USD	1,303		(29,964	)
Intuitive Surgical, Inc		12		11/06/20	USD	700.00	USD	851		(52,560	)
Johnson & Johnson		61		11/06/20	USD	155.00	USD	908		(12,017	)
McKesson Corp		24		11/06/20	USD	155.00	USD	357		(12,240	)
Medtronic PLC		95		11/06/20	USD	105.00	USD	987		(33,487	)
Pfizer, Inc		552		11/06/20	USD	38.00	USD	2,026		(55,752	)
ABIOMED, Inc		21		11/20/20	USD	290.00	USD	582		(33,390	)
Acceleron Pharma, Inc		94		11/20/20	USD	110.00	USD	1,058		(97,290	)
Agios Pharmaceuticals, Inc		50		11/20/20	USD	45.00	USD	175		(3,625	)
Alexion Pharmaceuticals, Inc		75		11/20/20	USD	135.00	USD	858		(21,375	)
Allakos, Inc		87		11/20/20	USD	85.00	USD	709		(75,690	)
Allogene Therapeutics, Inc		123		11/20/20	USD	35.00	USD	464		(58,425	)
Amedisys, Inc		73		11/20/20	USD	240.00	USD	1,726		(106,580	)
Amgen, Inc		61		11/20/20	USD	255.00	USD	1,550		(77,165	)
Apellis Pharmaceuticals, Inc		44		11/20/20	USD	35.00	USD	133		(7,700	)
Arena Pharmaceuticals, Inc		17		11/20/20	USD	80.00	USD	127		(14,025	)
Blueprint Medicines Corp		19		11/20/20	USD	85.00	USD	176		(22,895	)
Boston Scientific Corp		190		11/20/20	USD	40.00	USD	726		(22,420	)
Bristol-Myers Squibb Co		170		11/20/20	USD	65.00	USD	1,025		(12,835	)
Dicerna Pharmaceuticals, Inc		30		11/20/20	USD	22.50	USD	54		(2,325	)
Edwards Lifesciences Corp		312		11/20/20	USD	85.00	USD	2,490		(70,980	)
Encompass Health Corp		160		11/20/20	USD	70.00	USD	1,040		(28,800	)

SCHEDULE OF INVESTMENTS 5

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Health Sciences Trust (BME)

Exchange-Traded Options Written (continued)

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
Galapagos NV, ADR		12		11/20/20	USD	155.00	USD	170	$	(7,800	)
Genmab A/S, ADR		24		11/20/20	USD	40.00	USD	88		(3,840	)
GoodRx Holdings, Inc., Class A		11		11/20/20	USD	70.00	USD	61		(4,455	)
Halozyme Therapeutics, Inc		103		11/20/20	USD	30.00	USD	271		(8,755	)
Illumina, Inc		21		11/20/20	USD	290.00	USD	649		(67,515	)
Incyte Corp		94		11/20/20	USD	95.00	USD	844		(39,010	)
Intellia Therapeutics, Inc		27		11/20/20	USD	25.00	USD	54		(13,500	)
Iovance Biotherapeutics, Inc		61		11/20/20	USD	37.00	USD	201		(7,154	)
LHC Group, Inc		45		11/20/20	USD	210.00	USD	956		(65,475	)
Mersana Therapeutics, Inc		114		11/20/20	USD	30.00	USD	212		(14,820	)
Mirati Therapeutics, Inc		10		11/20/20	USD	165.00	USD	166		(25,950	)
Molecular Templates, Inc		21		11/20/20	USD	15.00	USD	23		(840	)
Nektar Therapeutics		49		11/20/20	USD	22.00	USD	81		(2,328	)
Neurocrine Biosciences, Inc		39		11/20/20	USD	120.00	USD	375		(3,705	)
Nevro Corp		27		11/20/20	USD	145.00	USD	376		(24,300	)
Quest Diagnostics, Inc		50		11/20/20	USD	125.00	USD	572		(10,875	)
Sanofi, ADR		66		11/20/20	USD	52.76	USD	331		(8,190	)
Selectquote, Inc		26		11/20/20	USD	25.00	USD	53		(1,625	)
Seres Therapeutics, Inc		52		11/20/20	USD	30.00	USD	147		(17,680	)
Silk Road Medical, Inc		28		11/20/20	USD	70.50	USD	188		(12,969	)
Stryker Corp		120		11/20/20	USD	220.00	USD	2,500		(58,800	)
Teleflex, Inc		57		11/20/20	USD	360.00	USD	1,940		(70,110	)
UnitedHealth Group, Inc		54		11/20/20	USD	310.00	USD	1,684		(91,395	)
									$	(5,397,896	)

OTC Options Written

Description	Counterparty	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call
Genmab A/S, ADR	UBS AG		2,700		10/07/20	DKK	2,358.99	DKK	6,222	$	(9,951	)
Merck KGaA	Credit Suisse International		5,100		10/07/20	EUR	118.04	EUR	634		(39,451	)
Passage Bio, Inc	JPMorgan Chase Bank N.A.		1,600		10/07/20	USD	16.67	USD	21		(32	)
Straumann Holding AG, Registered Shares	Barclays Bank PLC		1,000		10/07/20	CHF	941.20	CHF	932		(10,042	)
Sanofi	Barclays Bank PLC		8,300		10/15/20	EUR	90.53	EUR	709		(2,156	)
Rapt Therapeutics, Inc	Credit Suisse International		3,400		10/19/20	USD	25.75	USD	110		(24,024	)
Eisai Co. Ltd	Morgan Stanley & Co. International PLC		6,100		10/20/20	JPY	9,699.04	JPY	58,757		(16,877	)
Hansoh Pharmaceutical Group Ltd	JPMorgan Chase Bank N.A.		100,000		10/20/20	HKD	37.05	HKD	3,788		(20,440	)
Molecular Templates, Inc	Credit Suisse International		6,300		10/21/20	USD	12.54	USD	69		(1,098	)
Seres Therapeutics, Inc	Credit Suisse Securities (USA) LLC		5,200		10/21/20	USD	26.66	USD	147		(16,973	)
TCR2 Therapeutics, Inc	Credit Suisse International		2,000		10/21/20	USD	19.39	USD	41		(4,079	)
AstraZeneca PLC	Barclays Bank PLC		4,000		10/22/20	GBP	84.37	GBP	339		(14,399	)
Sanofi	Credit Suisse International		7,900		10/22/20	EUR	88.96	EUR	675		(7,083	)
WuXi AppTec Co. Ltd., Class H	Citibank N.A.		30,500		10/22/20	HKD	111.47	HKD	3,418		(20,516	)
Eisai Co. Ltd	Morgan Stanley & Co. International PLC		6,100		10/23/20	JPY	9,699.04	JPY	58,757		(18,211	)
Alcon AG	Credit Suisse International		23,100		10/28/20	USD	59.95	USD	1,316		(22,783	)
Alnylam Pharmaceuticals, Inc	Citibank N.A.		6,300		10/28/20	USD	134.39	USD	917		(83,300	)
Avantor, Inc	Credit Suisse International		25,900		10/28/20	USD	23.01	USD	583		(28,748	)
IQVIA Holdings, Inc	UBS AG		5,100		10/28/20	USD	161.92	USD	804		(22,580	)
Kodiak Sciences, Inc	Credit Suisse International		2,300		10/28/20	USD	59.67	USD	136		(9,083	)
LHC Group, Inc	Credit Suisse International		1,800		10/28/20	USD	202.88	USD	383		(27,360	)
Masimo Corp	Credit Suisse International		1,500		10/28/20	USD	229.00	USD	354		(19,180	)
Oak Street Health, Inc	JPMorgan Chase Bank N.A.		3,300		10/28/20	USD	44.94	USD	176		(31,299	)
Relay Therapeutics, Inc	Morgan Stanley & Co. International PLC		4,300		10/28/20	USD	46.80	USD	183		(10,794	)
WuXi AppTec Co. Ltd., Class H	Morgan Stanley & Co. International PLC		46,000		10/28/20	HKD	113.56	HKD	5,155		(28,624	)
Arcutis Biotherapeutics, Inc	Bank of America N.A.		1,100		11/02/20	USD	25.49	USD	32		(5,090	)
Passage Bio, Inc	JPMorgan Chase Bank N.A.		1,600		11/02/20	USD	17.07	USD	21		(577	)
ResMed, Inc	UBS AG		5,100		11/02/20	USD	192.25	USD	874		(6,494	)
Krystal Biotech, Inc	Credit Suisse International		2,000		11/03/20	USD	48.64	USD	86		(2,713	)
Merck KGaA	Credit Suisse International		4,900		11/03/20	EUR	126.48	EUR	609		(18,814	)

6

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Health Sciences Trust (BME)

OTC Options Written (continued)

Description	Counterparty	Number of Contracts		Expiration Date		Exercise Price			Notional Amount (000)			Value
Call (continued)
AstraZeneca PLC	Morgan Stanley & Co. International PLC		2,400		11/04/20		GBP	87.93		GBP	203	$	(7,492	)
Genmab A/S, ADR	Goldman Sachs International		3,200		11/04/20		DKK	2,326.11		DKK	7,374		(33,911	)
Hansoh Pharmaceutical Group Ltd	Citibank N.A.		162,000		11/04/20		HKD	38.71		HKD	6,137		(24,012	)
Rogers Corp	UBS AG		2,100		11/04/20		CHF	342.10		CHF	663		(2,921	)
Sanofi	Goldman Sachs International		11,100		11/04/20		EUR	89.50		EUR	949		(10,787	)
Annexon, Inc	JPMorgan Chase Bank N.A.		6,700		11/06/20		USD	29.75		USD	203		(23,007	)
Rogers Corp	UBS AG		2,900		11/06/20		CHF	347.26		CHF	915		(3,730	)
Royalty Pharma PLC, Class A	JPMorgan Chase Bank N.A.		3,000		11/06/20		USD	41.70		USD	126		(9,146	)
WuXi AppTec Co. Ltd., Class H	JPMorgan Chase Bank N.A.		13,800		11/10/20		HKD	112.97		HKD	1,547		(9,737	)
Wuxi Biologics Cayman, Inc	JPMorgan Chase Bank N.A.		48,000		11/10/20		HKD	192.19		HKD	9,117		(65,948	)
Arcutis Biotherapeutics, Inc	Citibank N.A.		15,800		11/11/20		USD	30.45		USD	463		(14,255	)
Envista Holdings Corp	JPMorgan Chase Bank N.A.		14,600		11/16/20		USD	26.50		USD	360		(9,632	)
Hansoh Pharmaceutical Group Ltd	Morgan Stanley & Co. International PLC		90,000		11/19/20		HKD	38.78		HKD	3,409		(11,336	)
Immunovant, Inc	JPMorgan Chase Bank N.A.		14,300		11/23/20		USD	40.00		USD	503		(21,444	)
												$	(770,129	)

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. 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 for identical assets or liabilities that the Trust has the ability to access

• Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs)

• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are 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.

Certain investments of the Trust were fair valued using net asset value (“NAV”) per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy. The breakdown of the Trust’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2		Level 3		Total
Assets
Investments
Long-Term Investments
Common Stocks
Biotechnology	$	96,587,511	$	5,357,574	$	2,294,537	$	104,239,622
Diversified Financial Services		1,862,269		—		—		1,862,269
Health Care Equipment & Supplies		148,398,009		3,179,180		—		151,577,189
Health Care Providers & Services		89,031,008		2,821,669		—		91,852,677
Health Care Technology		4,462,342		—		—		4,462,342
Insurance		674,527		—		—		674,527
Life Sciences Tools & Services		32,133,715		6,218,245		—		38,351,960
Pharmaceuticals		79,459,243		23,791,542		—		103,250,785

SCHEDULE OF INVESTMENTS 7

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Health Sciences Trust (BME)

Fair Value Hierarchy as of Period End (continued)

	Level 1			Level 2			Level 3		Total
Corporate Bonds	$	—		$	—		$	260,000	$	260,000
Other Interests		—			—			252,913		252,913
Preferred Securities
Preferred Stocks		—			1,896,843			415,665		2,312,508
Short-Term Securities
Money Market Funds		6,247,858			—			—		6,247,858
	$	458,856,482		$	43,265,053		$	3,223,115		505,344,650
Investments Valued at NAV(a)										187,077
									$	505,531,727
Derivative Financial Instruments(b)
Liabilities
Equity Contracts	$	(5,143,264	)	$	(1,024,761	)	$	—	$	(6,168,025	)

^(a)  Certain investments of the Trust were fair valued using NAV per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

^(b)  Derivative financial instruments are options written. Options written are shown at value.

8

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock Health Sciences Trust (BME)

Currency Abbreviation
CHF	Swiss Franc
DKK	Danish Krone
EUR	Euro
GBP	British Pound
HKD	Hong Kong Dollar
JPY	Japanese Yen
USD	United States Dollar

Portfolio Abbreviation
ADR	American Depositary Receipt
OTC	Over-the-Counter

SCHEDULE OF INVESTMENTS 9