Schedule of Investments (unaudited)  March 31, 2024 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Corporate Bonds
Diversified Consumer Services — 3.1%
Grand Canyon University, 5.13%, 10/01/28	$	9,377	$	8,480,278
Rensselaer Polytechnic Institute, Series 2018, 5.25%, 09/01/48		18,190		16,415,768
Wesleyan University, 4.78%, 07/01/2116(a)		11,000		9,335,466
				34,231,512
Financial Services(b) — 1.7%
MMH Master LLC
6.38%, 02/01/34		2,750		2,771,143
6.50%, 02/01/39		6,475		6,526,052
6.75%, 02/01/44		7,300		7,284,734
Western Group Housing LP, 6.75%, 03/15/57		2,388		2,521,458
				19,103,387
Health Care Providers & Services — 3.0%
CommonSpirit Health, 5.32%, 12/01/34		14,655		14,679,782
Ochsner Clinic Foundation, 5.90%, 05/15/45(a)		5,000		4,882,847
West Virginia United Health System Obligated Group, Series 2018, 4.92%, 06/01/48		15,000		13,497,188
				33,059,817
Total Corporate Bonds — 7.8% (Cost: $92,908,696)				86,394,716
Municipal Bonds
Alabama — 0.1%
Jacksonville Public Educational Building Authority, RB, (AGM), 7.00%, 08/01/46		1,365		1,456,892
Alaska — 0.9%
Alaska Housing Finance Corp., RB, S/F Housing, Series C, 6.25%, 12/01/53		10,000		10,257,979
Arizona — 2.2%
Salt River Project Agricultural Improvement & Power District, RB, BAB, 4.84%, 01/01/41(a)		24,545		23,877,539
Arkansas — 0.7%
Arkansas Development Finance Authority, RB, 7.38%, 07/01/48(b)		7,400		8,148,591
California — 21.6%
Alameda Corridor Transportation Authority, Refunding RB, CAB(c)
Series D, (AGM), 0.00%, 10/01/40		3,775		1,434,994
Series B, Senior Lien, 0.00%, 10/01/42		5,000		1,748,140
Alameda County Joint Powers Authority, RB, BAB, Series A, 7.05%, 12/01/44		11,000		13,156,072
Bay Area Toll Authority, RB, BAB
Series S-1, 6.92%, 04/01/40		13,700		15,674,588
Series S-3, 6.91%, 10/01/50		14,000		17,006,758
California Infrastructure & Economic Development Bank, RB, 5.50%, 01/01/38(b)		4,800		3,607,755
California State Public Works Board, RB, BAB, Series G-2, 8.36%, 10/01/34(a)		17,050		20,691,110
California State University, Refunding RB, Series B, 2.80%, 11/01/41		5,000		3,749,443
City of Chula Vista California, RB, 2.40%, 06/01/36		1,275		973,079
City of Huntington Beach California, Refunding RB
3.28%, 06/15/40(a)		6,000		4,695,588
3.38%, 06/15/44		1,500		1,118,362

Security	Par (000)		Value
California (continued)
City of Orange California, RB, (BAM), 3.12%, 06/01/44	$	2,000	$	1,407,722
City of San Francisco California Public Utilities Commission Water Revenue, RB, BAB, Series DE, 6.00%, 11/01/40(a)		21,255		22,121,081
County of Sonoma California, Refunding RB, Series A, 6.00%, 12/01/29(a)		10,420		10,742,709
Golden State Tobacco Securitization Corp., Refunding RB
(SAP), 3.12%, 06/01/38		11,410		9,270,831
Series A-1, 4.21%, 06/01/50		35,775		27,173,658
Imperial Irrigation District, RB, (AMBAC), 6.94%, 01/01/26		1,115		1,134,190
Los Angeles Community College District, GO, BAB, 6.60%, 08/01/42		10,000		11,288,873
Orange County Local Transportation Authority Sales Tax Revenue, Refunding RB, BAB, Series A, 6.91%, 02/15/41		5,000		5,657,459
San Diego County Regional Airport Authority, ARB, Series B, 5.59%, 07/01/43		3,795		3,771,260
San Joaquin Hills Transportation Corridor Agency, Refunding RB, Series B, (AGM), 3.49%, 01/15/50		7,200		5,557,349
State of California, GO, BAB
7.55%, 04/01/39(a)		9,035		11,066,084
7.35%, 11/01/39		5,000		5,920,125
7.63%, 03/01/40		8,950		10,957,774
7.60%, 11/01/40(a)		15,000		18,523,037
State of California, Refunding GO, 5.13%, 03/01/38		10,010		10,105,987
				238,554,028
Colorado — 4.3%
Colorado Health Facilities Authority, Refunding RB, Series B, 4.48%, 12/01/40		11,885		10,078,610
Colorado Housing and Finance Authority, RB, S/F Housing, Series B-1, Class I, (GNMA), 6.25%, 11/01/54(d)		2,180		2,265,451
Denver City & County School District No. 1, Refunding COP, Series B, 7.02%, 12/15/37		6,000		6,951,118
Regional Transportation District, COP, BAB, Series B, 7.67%, 06/01/40(a)		23,000		27,695,177
				46,990,356
Connecticut — 0.3%
Connecticut State Health & Educational Facilities Authority, Refunding RB, Series G-2, 4.25%, 07/01/27(b)		3,935		3,819,089
District of Columbia — 1.8%
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, ARB, BAB, Series D, 8.00%, 10/01/47(a)		10,750		13,980,771
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, RB, BAB, 7.46%, 10/01/46		5,000		6,259,045
				20,239,816
Florida — 3.6%
Capital Trust Agency, Inc., RB(b)
5.00%, 01/01/25		175		174,014
5.50%, 06/15/26		445		424,763
County of Miami-Dade Seaport Department, ARB, 6.22%, 11/01/55		3,295		3,512,635

S C H E D U L E  O F   I N V E S T M E N T S 1

Schedule of Investments (unaudited) (continued) March 31, 2024 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Florida (continued)
Excelsior Academies, Inc., RB, Series C, 5.25%, 11/01/25	$	195	$	190,813
Florida Development Finance Corp., RB(b)
6.75%, 12/15/28		690		693,098
Series B, 5.00%, 06/15/25		285		280,574
Series B, 5.75%, 06/15/25		505		495,152
Series D, 5.75%, 12/15/26		650		631,722
Florida Development Finance Corp., Refunding RB, Series B, 4.11%, 04/01/50		10,000		8,204,385
Miami-Dade County Educational Facilities Authority, Refunding RB, Series B, 5.07%, 04/01/50		12,250		12,133,641
Miami-Dade County Industrial Development Authority, RB, 5.25%, 11/01/25		70		68,413
Village Center Community Development District, Refunding RB, 5.02%, 11/01/36		13,500		13,142,146
				39,951,356
Georgia — 5.8%
East Point Business & Industrial Development Authority, RB, Series B, 5.25%, 06/15/31(b)		860		843,758
Municipal Electric Authority of Georgia, Refunding RB, BAB
6.64%, 04/01/57		25,422		28,834,164
6.66%, 04/01/57		20,536		23,640,574
7.06%, 04/01/57		9,420		10,681,740
				64,000,236
Hawaii — 0.7%
State of Hawaii, GO, Series GK, 6.05%, 10/01/36		5,000		5,435,358
State of Hawaii, Refunding GO, Series GC, 2.37%, 10/01/35		2,500		1,971,679
				7,407,037
Idaho — 2.0%
Idaho Housing & Finance Association, RB
Series B, 4.75%, 06/15/29(b)		235		218,025
Series B, 7.15%, 06/15/31		545		497,130
Idaho Housing & Finance Association, RB, S/F Housing
Series B, (FHLMC, FNMA, GNMA), 6.25%, 07/01/54		5,915		6,143,438
Series E, (FHLMC, FNMA, GNMA), 6.06%, 01/01/44(a)		15,000		15,540,386
				22,398,979
Illinois — 15.9%
Chicago Board of Education, GO, BAB
6.04%, 12/01/29		10,435		10,267,333
6.14%, 12/01/39		370		345,228
6.52%, 12/01/40		9,745		9,370,821
Chicago O’Hare International Airport, Refunding ARB, BAB, Series B, 6.40%, 01/01/40		1,500		1,648,276
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue, RB
Series A, 6.90%, 12/01/40		3,847		4,336,851
Series B, 6.90%, 12/01/40		4,623		5,212,242
Chicago Transit Authority Sales Tax Receipts Fund, RB, BAB, Series B, 6.20%, 12/01/40(a)		16,015		17,125,272
City of Chicago Illinois Wastewater Transmission Revenue, RB, BAB, Series B, 2nd Lien, 6.90%, 01/01/40(a)		36,000		40,823,600

Security	Par (000)		Value
Illinois (continued)
City of Chicago Illinois Waterworks Revenue, RB, BAB, Series B, 6.74%, 11/01/40	$	15,250	$	17,333,253
Illinois Finance Authority, RB, 6.69%, 07/01/33		2,925		3,078,065
Illinois Housing Development Authority, RB, S/F Housing, Series B, Sustainability Bonds, (FHLMC, FNMA, GNMA), 5.88%, 10/01/49		4,445		4,479,827
Illinois Municipal Electric Agency, RB, BAB, 7.29%, 02/01/35(a)		15,000		16,664,209
Northern Illinois Municipal Power Agency, RB, BAB, 7.82%, 01/01/40		5,000		5,970,292
State of Illinois, GO, BAB
6.73%, 04/01/35		5,834		6,140,643
7.35%, 07/01/35(a)		30,733		33,145,473
				175,941,385
Indiana — 1.7%
Indiana Finance Authority, RB, BAB, Series B, 6.60%, 02/01/39(a)		7,900		8,847,667
Indiana Municipal Power Agency, RB, BAB, Series A, 5.59%, 01/01/42		10,000		10,272,778
				19,120,445
Kentucky — 0.9%
Westvaco Corp., RB, 7.67%, 01/15/27(b)		9,400		9,808,831
Louisiana — 0.9%
Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Series A-3, 5.20%, 12/01/39		9,750		9,863,213
Maryland — 2.2%
Maryland Community Development Administration, RB, S/F Housing
Series F, Sustainability Bonds, (FHLMC, FNMA, GNMA), 6.15%, 09/01/38		5,000		5,204,209
Series F, Sustainability Bonds, (FHLMC, FNMA, GNMA), 6.23%, 09/01/43		10,000		10,327,509
Maryland Economic Development Corp., RB, 4.00%, 04/01/34		9,295		7,470,351
Maryland Health & Higher Educational Facilities Authority, RB, Series B, 6.25%, 03/01/27(b)		765		736,107
				23,738,176
Massachusetts — 4.2%
Commonwealth of Massachusetts Transportation Fund Revenue, RB, BAB, 5.73%, 06/01/40(a)		5,000		5,187,677
Massachusetts Educational Financing Authority, RB
Series A, 3.61%, 07/01/36		9,270		8,693,930
Series A, 5.95%, 07/01/44		15,000		15,438,787
Massachusetts Educational Financing Authority, Refunding RB, Series A, 4.95%, 07/01/38		16,695		16,436,993
				45,757,387
Michigan — 4.1%
Michigan Finance Authority, RB 6.38%, 06/01/33(b)(e)(f)		1,000		837,895
Series D, 5.02%, 11/01/43		7,500		7,327,562
Michigan Finance Authority, Refunding RB, CAB, Series B, 0.00%, 06/01/45(c)		50,000		13,175,205
Michigan State Housing Development Authority, RB, S/F Housing, Series B, Sustainability Bonds, 5.77%, 12/01/44		3,125		3,152,479

2

Schedule of Investments (unaudited) (continued) March 31, 2024 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Michigan (continued)
Michigan State University, RB, BAB, Series A, 6.17%, 02/15/50(a)	$	5,500	$	5,713,565
Michigan State University, Refunding RB, Series A, 4.50%, 08/15/48		14,575		13,499,825
Western Michigan University, Refunding RB, Series B, (AGM), 2.88%, 11/15/43		1,500		1,096,789
				44,803,320
Minnesota — 1.3%
Southern Minnesota Municipal Power Agency, Refunding RB, BAB, Series A, 5.93%, 01/01/43		8,000		8,465,131
Western Minnesota Municipal Power Agency, RB, BAB, 6.77%, 01/01/46		5,000		5,981,312
				14,446,443
Mississippi — 0.5%
Mississippi Development Bank, RB, BAB, 6.41%, 01/01/40		5,000		5,555,793
Missouri — 1.9%
Curators of the University of Missouri, RB, BAB, 5.79%, 11/01/41		7,000		7,467,950
Missouri Joint Municipal Electric Utility Commission, RB, BAB, 7.73%, 01/01/39		11,000		13,115,736
				20,583,686
Nevada — 0.4%
City of North Las Vegas Nevada, GO, BAB, 6.57%, 06/01/40		1,420		1,552,506
County of Clark Department of Aviation, ARB, BAB, Series C, 6.82%, 07/01/45		2,000		2,331,394
				3,883,900
New Hampshire — 1.4%
New Hampshire Business Finance Authority, RB, 3.78%, 01/01/36		2,500		1,935,057
New Hampshire Business Finance Authority, Refunding RB
3.30%, 04/01/32		12,895		10,086,260
2.87%, 07/01/35		4,815		3,576,598
				15,597,915
New Jersey — 10.5%
New Jersey Economic Development Authority, RB
Series A, (NPFGC), 7.43%, 02/15/29(a)		20,974		22,401,769
Series B, 7.00%, 06/15/30(b)		3,515		3,519,323
New Jersey Educational Facilities Authority, Refunding RB, (AGM), 3.51%, 07/01/42		13,500		10,612,956
New Jersey Institute of Technology, Refunding RB, Series B, 3.42%, 07/01/42		7,500		6,154,996
New Jersey Transportation Trust Fund Authority, RB, BAB, Series C, 5.75%, 12/15/28		4,500		4,528,777
New Jersey Transportation Trust Fund Authority, Refunding RB
4.08%, 06/15/39		7,230		6,323,798
4.13%, 06/15/42		16,765		14,405,333
New Jersey Turnpike Authority, RB, BAB(a)
Series A, 7.10%, 01/01/41		34,000		39,692,191
Series F, 7.41%, 01/01/40		6,790		8,164,758
				115,803,901
New York — 8.4%
City of New York, Refunding GO, Series D, 2.17%, 08/01/34		7,285		5,748,194
Metropolitan Transportation Authority, RB, BAB 6.67%, 11/15/39		2,220		2,443,512

Security	Par (000)		Value
New York (continued)
Metropolitan Transportation Authority, RB, BAB (continued)
7.34%, 11/15/39(a)	$	13,245	$	16,206,354
Series TR, 6.69%, 11/15/40		13,000		14,260,165
Metropolitan Transportation Authority, Refunding RB, Series C-2, Sustainability Bonds, 5.18%, 11/15/49		4,370		4,051,972
New York City Housing Development Corp., RB, M/F Housing, 3.10%, 11/01/45		1,310		919,638
New York City Transitional Finance Authority Future Tax Secured Revenue, RB, BAB, 5.57%, 11/01/38(a)		19,000		19,479,633
New York State Dormitory Authority, RB, BAB, Series H, 5.39%, 03/15/40(a)		15,000		14,998,774
New York State Dormitory Authority, Refunding RB, Series B, 5.75%, 07/01/24(g)		6,010		6,013,005
Triborough Bridge & Tunnel Authority, Refunding RB, Series A-3, 2.51%, 05/15/35		10,390		8,252,373
				92,373,620
North Carolina — 0.7%
North Carolina Housing Finance Agency, RB, S/F Housing, Series 53-B, Sustainability Bonds, (FHLMC, FNMA, GNMA), 6.25%, 01/01/55		7,000		7,173,559
Ohio — 6.1%
American Municipal Power, Inc., RB, Series B, 7.83%, 02/15/41		10,000		12,234,299
American Municipal Power, Inc., Refunding RB, BAB, Series B, 6.45%, 02/15/44		10,000		10,945,272
Franklin County Convention Facilities Authority, RB, BAB, 6.64%, 12/01/42(a)		30,575		34,426,642
Ohio University, RB, 5.59%, 12/01/2114		10,100		9,579,297
				67,185,510
Oklahoma — 1.5%
Oklahoma Development Finance Authority, RB
Series A-3, 5.09%, 02/01/52(a)		6,750		6,624,460
Series A-3, 4.71%, 05/01/52		3,695		3,533,141
Series B, 11.00%, 09/01/41(b)		3,000		2,752,718
Oklahoma Municipal Power Authority, RB, BAB, 6.44%, 01/01/45(a)		3,500		3,732,489
				16,642,808
Pennsylvania — 3.2%
Commonwealth Financing Authority, RB
Series A, 4.14%, 06/01/38		4,435		4,122,306
Series A, 3.81%, 06/01/41		6,110		5,309,098
Pennsylvania Economic Development Financing Authority, RB, BAB, Series B, 6.53%, 06/15/39		23,050		25,721,007
				35,152,411
Puerto Rico — 2.5%
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 5.00%, 07/01/58		3,465		3,467,061
Series A-2, Restructured, 4.55%, 07/01/40		14,899		11,869,050
Series A-2, Restructured, 4.78%, 07/01/58		12,447		12,390,977
				27,727,088
South Carolina — 3.0%
Charleston Educational Excellence Finance Corp., Refunding RB, 1.87%, 12/01/29		10,000		8,677,865
South Carolina Jobs-Economic Development Authority, RB, 7.35%, 08/15/30(b)		710		693,388
South Carolina Public Service Authority, RB, BAB, Series C, (AGM-CR), 6.45%, 01/01/50(a)		11,290		12,672,239

S C H E D U L E  O F   I N V E S T M E N T S 3

Schedule of Investments (unaudited) (continued) March 31, 2024 BlackRock Taxable Municipal Bond Trust (BBN) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
South Carolina (continued)
South Carolina Public Service Authority, Refunding RB
Series C, 5.78%, 12/01/41	$	4,595	$	4,790,357
Series D, (AGM), 6.45%, 12/01/42		2,870		3,180,980
South Carolina Student Loan Corp., RB, Series A, 3.59%, 12/01/39		4,285		3,544,417
				33,559,246
Tennessee — 4.5%
Memphis-Shelby County Industrial Development Board, Refunding TA, Series B, 5.45%, 07/01/45		5,875		4,100,719
Metropolitan Government of Nashville & Davidson County Convention Center Authority, RB, BAB, Series A-2, 7.43%, 07/01/43(a)		35,105		42,028,818
Tennessee Housing Development Agency, RB, S/F Housing, Series 1B, Sustainability Bonds, 5.92%, 07/01/49		545		551,811
Tennessee State School Bond Authority, Refunding RB, Series A, 2.56%, 11/01/41		4,525		3,206,756
				49,888,104
Texas — 5.1%
Arlington Higher Education Finance Corp., RB(b)
5.50%, 04/01/30		500		488,310
6.50%, 11/01/32		1,280		1,298,601
Arlington Higher Education Finance Corp., Refunding RB, Series B, 4.00%, 08/15/28		1,355		1,240,458
City of San Antonio Texas Customer Facility Charge Revenue, ARB, 5.87%, 07/01/45		7,500		7,513,425
Dallas Area Rapid Transit, RB, BAB, 5.02%, 12/01/48(a)		2,500		2,453,158
New Hope Higher Education Finance Corp., RB, Series B, 5.00%, 06/15/27(b)		390		376,565
Port Beaumont Navigation District, Refunding RB, Series B, 6.00%, 01/01/25(b)		3,185		3,131,425
Port of Beaumont Industrial Development Authority, RB, 4.10%, 01/01/28(b)		18,785		16,194,327
Texas Department of Housing & Community Affairs, RB, S/F Housing, Series B, (GNMA), 5.55%, 01/01/44(d)		3,000		3,006,609
Texas Private Activity Bond Surface Transportation Corp., RB, Series B, 3.92%, 12/31/49		25,000		20,505,850
				56,208,728
Utah — 2.8%
Utah Housing Corp., RB, S/F Housing, Series D, (FHLMC, FNMA, GNMA), 6.25%, 07/01/54		3,000		3,113,362
Utah Transit Authority, RB, BAB, 5.71%, 06/15/40(a)		26,405		27,493,604
				30,606,966
Virginia — 3.5%
Tobacco Settlement Financing Corp., Refunding RB, Series A-1, 6.71%, 06/01/46		29,630		25,651,749
Virginia Housing Development Authority, RB, M/F Housing
Series D, 3.52%, 06/01/40		4,000		3,194,585
Series F, 3.13%, 07/01/45		3,425		2,408,476
Virginia Housing Development Authority, RB, S/F
Housing, Series A, 5.57%, 10/01/49		6,845		6,818,955
				38,073,765

Security	Par (000)		Value
Washington — 1.9%
Washington State Convention Center Public Facilities District, RB, BAB, 6.79%, 07/01/40	$	19,415	$	20,915,349
West Virginia — 2.4%
Tobacco Settlement Finance Authority, RB, Series B, 0.00%, 06/01/47(c)		1,600		137,227
Tobacco Settlement Finance Authority, Refunding RB
Class 1, 4.31%, 06/01/49		20,000		15,665,073
Class 2, 4.88%, 06/01/49		11,900		11,154,787
				26,957,087
Wisconsin — 0.3%
Public Finance Authority, RB
4.75%, 06/15/25(b)		495		490,301
5.38%, 06/15/28(b)		400		380,532
5.25%, 01/01/31(b)		1,150		886,597
Class S, 5.25%, 06/15/26(b)		140		134,923
Series B, 6.00%, 06/15/24		155		154,128
Public Finance Authority, Refunding RB, Series B, 6.13%, 10/01/49(b)		1,470		1,280,293
				3,326,774
Total Municipal Bonds — 135.8% (Cost: $1,447,839,989)				1,497,797,308
Total Long-Term Investments — 143.6% (Cost: $1,540,748,685)				1,584,192,024
	Shares
Short-Term Securities
Money Market Funds — 0.7%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 5.19%(h)(i)		8,036,693		8,036,693
Total Short-Term Securities — 0.7% (Cost: $8,036,693)				8,036,693
Total Investments — 144.3% (Cost: $1,548,785,378)				1,592,228,717
Liabilities in Excess of Other Assets — (44.3)%				(488,725,747	)
Net Assets — 100.0%			$	1,103,502,970

^(a)  All or a portion of the security has been pledged as collateral in connection with outstanding reverse repurchase agreements.

^(b)  Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

^(c)  Zero-coupon bond.

^(d)  When-issued security.

^(e)  Issuer filed for bankruptcy and/or is in default.

^(f)  Non-income producing security.

^(g)  U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

^(h)  Affiliate of the Trust.

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

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Trust for compliance purposes.

4

Schedule of Investments (unaudited) (continued) March 31, 2024 BlackRock Taxable Municipal Bond Trust (BBN)

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 12/31/23		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 03/31/24		Shares Held at 03/31/24		Income		Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class	$	7,737,117	$	299,576	(a)	$	—	$	—	$	—	$	8,036,693		8,036,693	$	231,937	$	—

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

Reverse Repurchase Agreements

Counterparty

Interest Rate

Trade Date

Maturity Date

(a)

Face Value

Face Value Including Accrued Interest

Type of Non-Cash Underlying Collateral

Remaining Contractual Maturity of the Agreements

(a)

TD Securities (USA) LLC

5.57

%(b)

11/14/23

Open

$

18,891,250

$

19,292,532

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/01/23

Open

971,763

990,026

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/01/23

Open

8,784,281

8,938,660

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.55

(b)

12/08/23

Open

5,732,475

5,830,930

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

3,272,500

3,328,914

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

4,550,000

4,616,342

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

6,100,313

6,205,195

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

7,587,825

7,718,978

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

2,068,750

2,104,508

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

18,981,470

19,309,559

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

7,613,625

7,744,875

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

13,125,000

13,348,253

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

10,150,000

10,324,975

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

17,076,250

17,371,408

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/08/23

Open

13,195,000

13,423,072

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.50

(b)

12/08/23

Open

40,282,987

40,970,428

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.53

(b)

12/08/23

Open

10,604,831

10,786,504

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/13/23

Open

3,322,069

3,377,026

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/13/23

Open

25,596,450

26,028,810

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.60

(b)

12/13/23

Open

4,731,250

4,810,604

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

14,157,500

14,394,953

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

13,965,000

14,133,298

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

3,041,250

3,092,398

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

2,845,000

2,892,847

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

18,572,500

18,879,746

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

15,831,250

16,097,501

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

19,855,000

20,188,922

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

7,612,500

7,740,179

Municipal Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

12/13/23

Open

6,156,250

6,259,222

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

4,665,375

4,743,884

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

6,067,500

6,169,604

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

11,437,500

11,629,971

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

10,450,000

10,625,374

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

10,575,000

10,752,181

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

7,236,862

7,358,114

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

9,405,000

9,560,854

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

7,026,281

7,143,683

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

2,027,500

2,061,656

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

1,500,000

1,525,242

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/13/23

Open

7,079,688

7,198,306

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

12/20/23

Open

18,318,750

18,607,830

Municipal Bonds

Open/Demand

Barclays Bank PLC

5.05

(b)

01/29/24

Open

8,277,500

8,349,491

Corporate Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

02/08/24

Open

2,876,250

2,899,516

Corporate Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

02/08/24

Open

1,917,500

1,932,927

Corporate Bonds

Open/Demand

RBC Capital Markets, LLC

5.60

(b)

03/27/24

Open

19,530,000

19,545,190

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

03/27/24

Open

16,495,450

16,508,211

Municipal Bonds

Open/Demand

S C H E D U L E  O F   I N V E S T M E N T S 5

Schedule of Investments (unaudited) (continued) March 31, 2024 BlackRock Taxable Municipal Bond Trust (BBN)

Reverse Repurchase Agreements (continued)

Counterparty

Interest Rate

Trade Date

Maturity Date

(a)

Face Value

Face Value Including Accrued Interest

Type of Non-Cash Underlying Collateral

Remaining Contractual Maturity of the Agreements

(a)

TD Securities (USA) LLC

5.57

%(b)

03/27/24

Open

$

14,887,500

$

14,899,017

Municipal Bonds

Open/Demand

TD Securities (USA) LLC

5.57

(b)

03/27/24

Open

20,332,125

20,347,854

Municipal Bonds

Open/Demand

$

504,780,120

$

512,059,570

^(a)  Certain agreements have no stated maturity and can be terminated by either party at any time.

^(b)  Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Short Contracts
10-Year U.S. Treasury Note		377		06/18/24	$	41,770	$	(252,031	)
U.S. Long Bond		797		06/18/24		95,989		(1,550,378	)
							$	(1,802,409	)

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); and

• Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. 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.

The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy. The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2		Level 3		Total
Assets
Investments
Long-Term Investments
Corporate Bonds	$	—	$	86,394,716	$	—	$	86,394,716
Municipal Bonds		—		1,497,797,308		—		1,497,797,308
Short-Term Securities
Money Market Funds		8,036,693		—		—		8,036,693
	$	8,036,693	$	1,584,192,024	$	—	$	1,592,228,717

6

Schedule of Investments (unaudited) (continued) March 31, 2024 BlackRock Taxable Municipal Bond Trust (BBN)

Fair Value Hierarchy as of Period End (continued)

	Level 1			Level 2		Level 3		Total
Derivative Financial Instruments(a)
Liabilities
Interest Rate Contracts	$	(1,802,409	)	$	—	$	—	$	(1,802,409	)

^(a)  Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount or face value, including accrued interest, for financial reporting purposes. As of period end, reverse repurchase agreements of $512,059,570 are categorized as Level 2 within the fair value hierarchy.

Portfolio Abbreviation
AGM	Assured Guaranty Municipal Corp.
AGM-CR	AGM Insured Custodial Receipt
AMBAC	AMBAC Assurance Corp.
ARB	Airport Revenue Bonds
BAB	Build America Bond
BAM	Build America Mutual Assurance Co.
CAB	Capital Appreciation Bonds
COP	Certificates of Participation
FHLMC	Federal Home Loan Mortgage Corp.
FNMA	Federal National Mortgage Association
GNMA	Government National Mortgage Association
GO	General Obligation Bonds
M/F	Multi-Family
NPFGC	National Public Finance Guarantee Corp.
RB	Revenue Bond
S/F	Single-Family
SAP	Subject to Appropriations
TA	Tax Allocation

S C H E D U L E  O F   I N V E S T M E N T S 7