Schedule of Investments (unaudited) September 30, 2023 | BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Corporate Bonds |
| |||||||
Consumer Discretionary — 0.1% | ||||||||
YMCA of Greater New York, 2.30%, 08/01/26 | $ | 1,000 | $ | 898,288 | ||||
|
| |||||||
Education — 0.1% | ||||||||
Rensselaer Polytechnic Institute, Series 2018, 5.25%, 09/01/48 | 1,910 | 1,619,089 | ||||||
|
| |||||||
Financial Services — 0.3% | ||||||||
Community Preservation Corp., Series 2020, Class C, 2.87%, 02/01/30 | 3,830 | 3,183,984 | ||||||
|
| |||||||
Total Corporate Bonds — 0.5% | 5,701,361 | |||||||
|
| |||||||
Municipal Bonds | ||||||||
Illinois — 0.1% | ||||||||
County/City/Special District/School District — 0.1% | ||||||||
Chicago Board of Education, GO, BAB, | 615 | 552,613 | ||||||
|
| |||||||
New York — 81.2% | ||||||||
Corporate — 2.2% | ||||||||
Build NYC Resource Corp., Refunding RB(a) | ||||||||
AMT, 4.50%, 01/01/25 | 155 | 155,158 | ||||||
AMT, 5.00%, 01/01/35 | 100 | 100,596 | ||||||
New York Liberty Development Corp., RB, 5.50%, 10/01/37 | 4,780 | 5,129,222 | ||||||
New York Liberty Development Corp., Refunding RB, 5.25%, 10/01/35 | 14,365 | 15,612,528 | ||||||
New York State Energy Research & Development | ||||||||
Authority, Refunding RB, Series C, | 650 | 612,882 | ||||||
New York Transportation Development Corp., ARB, | ||||||||
AMT, 5.00%, 01/01/33 | 1,000 | 999,475 | ||||||
New York Transportation Development Corp., RB, | ||||||||
AMT, 5.00%, 10/01/35 | 3,245 | 3,213,702 | ||||||
|
| |||||||
25,823,563 | ||||||||
County/City/Special District/School District — 15.4% | ||||||||
Battery Park City Authority, Refunding RB | ||||||||
Series B, 5.00%, 11/01/38 | 3,750 | 3,924,049 | ||||||
Series B, 5.00%, 11/01/39 | 2,850 | 2,973,687 | ||||||
Series B, 5.00%, 11/01/40 | 8,500 | 8,847,165 | ||||||
City of New York, GO | ||||||||
Series A, 5.00%, 08/01/40 | 3,400 | 3,546,948 | ||||||
Series A, 5.00%, 08/01/42 | 2,000 | 2,071,018 | ||||||
Series B, 5.25%, 10/01/43 | 1,500 | 1,575,857 | ||||||
Series B-1, 5.00%, 10/01/43 | 3,000 | 3,064,002 | ||||||
Series D, 5.38%, 06/01/32 | 15 | 15,016 | ||||||
Series D, 5.00%, 12/01/43 | 1,010 | 1,033,524 | ||||||
Series D-1, 5.00%, 03/01/43 | 2,000 | 2,037,472 | ||||||
Series D-1, 5.50%, 05/01/44 | 2,500 | 2,667,942 | ||||||
Series E-1, 5.00%, 03/01/40 | 6,000 | 6,137,814 | ||||||
Series I, 5.00%, 03/01/36 | 1,750 | 1,756,293 | ||||||
Sub-Series E1, 5.25%, 04/01/47 | 5,000 | 5,217,490 | ||||||
Sub-Series E-1, 4.00%, 04/01/45 | 2,425 | 2,153,218 | ||||||
City of New York, Refunding GO, Series C-3, 2.46%, 08/01/33 | 2,145 | 1,648,786 | ||||||
County of Nassau New York, GO | ||||||||
Series A, 4.00%, 04/01/39 | 1,000 | 933,596 | ||||||
Series B, (AGM), 5.00%, 07/01/42 | 4,190 | 4,340,526 |
Security | Par (000) | Value | ||||||
County/City/Special District/School District (continued) | ||||||||
County of Nassau New York, GO (continued) | ||||||||
Series B, (AGM), 5.00%, 07/01/45 | $ | 4,960 | $ | 5,041,076 | ||||
County of Nassau New York, Refunding GO | ||||||||
Series A, (AGM), 5.00%, 04/01/46 | 1,000 | 1,017,364 | ||||||
Series B, 5.00%, 04/01/41 | 1,250 | 1,318,701 | ||||||
Series B, 5.00%, 04/01/42 | 1,500 | 1,575,879 | ||||||
Series B, (AGM), 5.00%, 04/01/44 | 3,425 | 3,507,816 | ||||||
Hudson Yards Infrastructure Corp., Refunding RB | ||||||||
Series 2022, 4.00%, 02/15/40 | 1,000 | 933,008 | ||||||
Series 2022, 4.00%, 02/15/42 | 2,660 | 2,442,665 | ||||||
Series A, 4.00%, 02/15/38 | 2,000 | 1,895,090 | ||||||
Series A, 5.00%, 02/15/42 | 3,510 | 3,572,134 | ||||||
Nassau County Interim Finance Authority, Refunding RB | ||||||||
Series A, 5.00%, 11/15/34 | 5,030 | 5,543,161 | ||||||
Series B, 1.28%, 11/15/28 | 3,750 | 3,100,489 | ||||||
New York City Industrial Development Agency, RB(b) | ||||||||
(AGC), 0.00%, 03/01/41 | 4,155 | 1,649,290 | ||||||
(AGC), 0.00%, 03/01/42 | 5,500 | 2,046,748 | ||||||
(AGC), 0.00%, 03/01/43 | 2,000 | 698,364 | ||||||
(AGC), 0.00%, 03/01/45 | 2,450 | 753,142 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, RB | ||||||||
Series A-1, 5.00%, 08/01/40 | 5,000 | 5,117,130 | ||||||
Series E-1, 4.00%, 02/01/46 | 1,910 | 1,660,516 | ||||||
Series F1, 5.00%, 05/01/38 | 3,450 | 3,524,882 | ||||||
Sub-Series B-1, 5.00%, 11/01/35 | 200 | 201,323 | ||||||
Sub-Series B-1, 5.00%, 11/01/36 | 680 | 676,628 | ||||||
Sub-Series B-1, 4.00%, 11/01/45 | 10,000 | 8,845,050 | ||||||
Series A, Subordinate, 5.00%, 05/01/44 | 4,000 | 4,111,628 | ||||||
Series A, Subordinate, 5.00%, 05/01/45 | 2,700 | 2,768,091 | ||||||
Series A, Subordinate, 5.00%, 05/01/46 | 4,000 | 4,089,916 | ||||||
Series C-1, Subordinate, 4.00%, 02/01/42 | 6,000 | 5,330,088 | ||||||
Series C-3, Subordinate, 5.00%, 05/01/40 | 15,000 | 15,333,765 | ||||||
New York Convention Center Development Corp., RB, CAB, Series B, Sub Lien, (AGM-CR), 0.00%, 11/15/55(b) | 5,500 | 935,204 | ||||||
New York Convention Center Development Corp., Refunding RB | 3,500 | 3,541,835 | ||||||
5.00%, 11/15/40 | 7,690 | 7,714,916 | ||||||
5.00%, 11/15/45 | 8,490 | 8,496,351 | ||||||
New York Liberty Development Corp., Refunding RB | ||||||||
Class 1, 5.00%, 11/15/44(a) | 5,320 | 4,877,541 | ||||||
Series A, 2.75%, 11/15/41 | 17,000 | 12,156,972 | ||||||
New York State Dormitory Authority, Refunding RB, Series B, | 5 | 5,276 | ||||||
|
| |||||||
178,426,442 | ||||||||
Education — 11.2% | ||||||||
Albany Capital Resource Corp., Refunding RB | 1,650 | 990,510 | ||||||
4.00%, 07/01/51 | 1,705 | 866,513 | ||||||
Amherst Development Corp., Refunding RB | 85 | 82,503 | ||||||
5.00%, 10/01/48 | 1,040 | 989,912 | ||||||
Buffalo & Erie County Industrial Land Development Corp., Refunding RB | ||||||||
Series A, 4.50%, 06/01/27 | 820 | 800,677 | ||||||
Series A, 5.00%, 06/01/35 | 655 | 643,031 |
1 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Education (continued) | ||||||||
Build NYC Resource Corp., RB(a) | $ | 745 | $ | 669,447 | ||||
5.63%, 02/01/39 | 1,285 | 1,136,644 | ||||||
5.75%, 06/01/42 | 500 | 482,914 | ||||||
5.75%, 02/01/49 | 1,145 | 966,813 | ||||||
5.75%, 06/01/62 | 1,475 | 1,392,733 | ||||||
Series A, 4.88%, 05/01/31 | 640 | 601,913 | ||||||
Series A, 5.13%, 05/01/38 | 140 | 124,750 | ||||||
Series A, 5.50%, 05/01/48 | 2,175 | 1,937,346 | ||||||
Build NYC Resource Corp., Refunding RB | 275 | 277,285 | ||||||
5.00%, 06/01/35 | 250 | 253,098 | ||||||
5.00%, 08/01/35 | 740 | 741,023 | ||||||
5.00%, 06/01/40 | 310 | 311,512 | ||||||
5.00%, 08/01/47 | 725 | 682,836 | ||||||
5.00%, 11/01/47 | 2,900 | 2,929,206 | ||||||
Series A, 5.00%, 06/01/43 | 325 | 325,870 | ||||||
County of Cattaraugus New York, RB | 130 | 130,059 | ||||||
5.00%, 05/01/39 | 225 | 215,551 | ||||||
Dobbs Ferry Local Development Corp., RB, | 1,000 | 1,003,272 | ||||||
Dutchess County Local Development Corp., RB | 955 | 966,638 | ||||||
5.00%, 07/01/48 | 1,435 | 1,445,961 | ||||||
5.00%, 07/01/52 | 2,500 | 2,530,370 | ||||||
Dutchess County Local Development Corp., Refunding RB | 1,980 | 2,022,861 | ||||||
5.00%, 07/01/45 | 8,710 | 8,972,093 | ||||||
Hempstead Town Local Development Corp., Refunding RB | 570 | 573,136 | ||||||
5.00%, 10/01/35 | 265 | 266,217 | ||||||
5.00%, 07/01/47 | 2,165 | 2,179,031 | ||||||
Monroe County Industrial Development Corp., Refunding RB | ||||||||
Series A, 5.00%, 07/01/36 | 1,000 | 1,034,241 | ||||||
Series A, 5.00%, 07/01/37 | 500 | 514,811 | ||||||
Series A, 4.00%, 07/01/50 | 5,000 | 4,334,310 | ||||||
Series C, 5.05%, 07/01/28 | 1,000 | 985,599 | ||||||
Series C, 4.00%, 07/01/37 | 1,765 | 1,686,336 | ||||||
New York State Dormitory Authority, RB | 1,015 | 1,015,750 | ||||||
4.00%, 07/01/46 | 2,450 | 2,120,034 | ||||||
5.00%, 07/01/48 | 735 | 745,089 | ||||||
5.00%, 07/01/49 | 6,380 | 6,466,283 | ||||||
Series 1, (BHAC-CR AMBAC), 5.50%, 07/01/31 | 475 | 520,631 | ||||||
Series 1, (AMBAC), 5.50%, 07/01/40 | 500 | 556,187 | ||||||
Series A, 5.25%, 07/01/24(c) | 250 | 252,724 | ||||||
Series A, 5.50%, 07/01/24(c) | 2,500 | 2,531,785 | ||||||
Series A, 5.00%, 07/01/43 | 8,065 | 8,173,192 | ||||||
Series A, 4.00%, 07/01/44 | 2,010 | 1,775,889 | ||||||
New York State Dormitory Authority, Refunding RB | 2,000 | 1,815,972 | ||||||
2.26%, 07/01/30 | 4,000 | 3,290,696 | ||||||
3.78%, 07/01/34 | 2,100 | 1,816,660 | ||||||
(AGM-SAW), 5.00%, 10/01/37 | 1,875 | 1,979,788 | ||||||
(AGM-SAW), 5.00%, 10/01/38 | 1,000 | 1,047,029 | ||||||
5.00%, 07/01/44 | 5,000 | 4,877,130 |
Security | Par (000) | Value | ||||||
Education (continued) | ||||||||
New York State Dormitory Authority, Refunding RB (continued) | ||||||||
Series A, 5.00%, 07/01/24(c) | $ | 1,000 | $ | 1,009,082 | ||||
Series A, 2.58%, 07/01/33 | 2,190 | 1,703,838 | ||||||
Series A, 5.00%, 07/01/36 | 1,850 | 1,905,330 | ||||||
Series A, 5.00%, 07/01/37 | 350 | 351,330 | ||||||
Series A, 5.00%, 07/01/38 | 1,005 | 1,026,056 | ||||||
Series A, 5.00%, 07/01/41 | 500 | 504,122 | ||||||
Series A, 5.00%, 07/01/42 | 1,585 | 1,604,207 | ||||||
Series A, 5.00%, 07/01/43 | 1,000 | 985,951 | ||||||
Series A, 4.00%, 07/01/46 | 10,180 | 8,917,314 | ||||||
Series A, 5.00%, 07/01/46 | 675 | 634,622 | ||||||
Series A, 4.00%, 07/01/47 | 1,250 | 1,003,575 | ||||||
Series A, 5.00%, 07/01/51 | 3,000 | 3,051,021 | ||||||
Series B, 5.00%, 10/01/38 | 10,000 | 10,401,300 | ||||||
Series C, 4.00%, 07/01/49 | 2,500 | 2,176,892 | ||||||
Onondaga County Trust for Cultural Resources, Refunding RB | 135 | 136,788 | ||||||
4.00%, 12/01/41 | 3,760 | 3,571,545 | ||||||
4.00%, 12/01/47 | 3,000 | 2,661,540 | ||||||
Orange County Funding Corp., Refunding RB | ||||||||
Series A, 5.00%, 07/01/37 | 360 | 349,250 | ||||||
Series A, 5.00%, 07/01/42 | 220 | 208,067 | ||||||
Schenectady County Capital Resource Corp., Refunding RB | 335 | 359,799 | ||||||
5.25%, 07/01/52 | 285 | 291,273 | ||||||
Troy Capital Resource Corp., Refunding RB | 1,110 | 1,031,069 | ||||||
4.00%, 09/01/40 | 160 | 136,285 | ||||||
Trust for Cultural Resources of The City of | 885 | 890,460 | ||||||
|
| |||||||
129,962,577 | ||||||||
Health — 1.9% | ||||||||
Buffalo & Erie County Industrial Land Development Corp., RB, 5.25%, 07/01/35 | 665 | 571,818 | ||||||
Build NYC Resource Corp., Refunding RB, 5.00%, 07/01/24(c) | 1,100 | 1,109,990 | ||||||
Dutchess County Local Development Corp., RB, | ||||||||
Series A, 5.00%, 07/01/24(c) | 750 | 756,812 | ||||||
Genesee County Funding Corp., Refunding RB, | 4,345 | 4,087,168 | ||||||
Huntington Local Development Corp., RB, | 525 | 377,755 | ||||||
Monroe County Industrial Development Corp., RB | 660 | 669,184 | ||||||
4.00%, 12/01/41 | 100 | 81,161 | ||||||
Series A, 5.00%, 12/01/37 | 370 | 364,534 | ||||||
New York State Dormitory Authority, Refunding RB | 1,705 | 1,739,593 | ||||||
4.00%, 07/01/38 | 110 | 79,355 | ||||||
4.00%, 07/01/39 | 140 | 99,412 | ||||||
4.00%, 07/01/40 | 325 | 227,277 | ||||||
5.00%, 07/01/41 | 450 | 351,000 | ||||||
4.00%, 07/01/45 | 460 | 312,800 | ||||||
5.00%, 05/01/52 | 4,000 | 4,020,732 | ||||||
Series A, 5.00%, 05/01/43 | 1,570 | 1,575,550 |
SCHEDULE OF INVESTMENTS | 2 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Health (continued) | ||||||||
Southold Local Development Corp., RB, | $ | 1,900 | $ | 1,353,645 | ||||
Suffolk County Economic Development Corp., RB, | ||||||||
Series C, 5.00%, 07/01/32 | 285 | 286,723 | ||||||
Tompkins County Development Corp., Refunding RB, | 1,145 | 1,016,816 | ||||||
Westchester County Healthcare Corp., Refunding RB, | 105 | 105,046 | ||||||
Westchester County Local Development Corp., Refunding RB | 500 | 479,168 | ||||||
5.00%, 07/01/41(a) | 1,150 | 945,017 | ||||||
5.00%, 07/01/56(a) | 1,270 | 927,364 | ||||||
|
| |||||||
21,537,920 | ||||||||
Housing — 5.2% | ||||||||
New York City Housing Development Corp., RB, M/F Housing | 2,805 | 2,372,640 | ||||||
Class F-1, 4.75%, 11/01/47 | 1,500 | 1,394,338 | ||||||
Series K, 3.85%, 11/01/38 | 4,000 | 3,443,048 | ||||||
Series K, 4.00%, 11/01/48 | 2,925 | 2,335,323 | ||||||
Class F-1, Sustainability Bonds, 4.60%, 11/01/42 | 2,000 | 1,868,980 | ||||||
New York City Housing Development Corp., Refunding RB | 3,000 | 2,724,312 | ||||||
4.25%, 11/01/43 | 580 | 513,462 | ||||||
New York City Housing Development Corp., Refunding RB, M/F Housing, Series D, | 2,500 | 2,076,500 | ||||||
New York State Housing Finance Agency, RB, M/F Housing | ||||||||
Series C, (SONYMA), 3.25%, 05/01/27 | 5,000 | 4,644,210 | ||||||
Series C, (FHLMC, FNMA, GNMA, SONYMA), 2.75%, 11/01/31 | 1,000 | 875,697 | ||||||
Series E, (FNMA, SONYMA), 4.15%, 11/01/47 | 165 | 137,551 | ||||||
Series J-1, (SONYMA), 2.80%, 11/01/51 | 4,500 | 2,788,294 | ||||||
Series L-2, (SONYMA), 0.75%, 11/01/25 | 7,095 | 6,568,125 | ||||||
Series M-2, (SONYMA), 0.75%, 11/01/25 | 3,185 | 2,948,482 | ||||||
Series A, AMT, (SONYMA), 4.90%, 02/15/38 | 645 | 612,491 | ||||||
Series A, AMT, (SONYMA), 5.10%, 02/15/38 | 875 | 849,608 | ||||||
New York State Housing Finance Agency, Refunding RB, Series C, (FNMA, SONYMA), | 4,425 | 3,784,362 | ||||||
State of New York Mortgage Agency Homeowner Mortgage Revenue, RB, S/F Housing | ||||||||
Series 239, (SONYMA), 3.25%, 10/01/51 | 4,690 | 4,377,590 | ||||||
Series 250, (SONYMA), 4.80%, 10/01/48 | 5,000 | 4,616,035 | ||||||
State of New York Mortgage Agency Homeowner Mortgage Revenue, Refunding RB, S/F Housing | ||||||||
Series 235, AMT, 1.40%, 10/01/27 | 5,460 | 4,798,144 | ||||||
Series 235, AMT, 1.50%, 04/01/28 | 5,475 | 4,742,899 | ||||||
Yonkers Industrial Development Agency, RB | ||||||||
Series A, AMT, (SONYMA), 4.80%, 10/01/26 | 260 | 260,023 | ||||||
Series A, AMT, (SONYMA), 5.00%, 10/01/37 | 1,640 | 1,579,978 | ||||||
|
| |||||||
60,312,092 | ||||||||
State — 9.1% | ||||||||
New York City Transitional Finance Authority Building Aid Revenue, RB | ||||||||
Series S-1, Subordinate, (SAW), 5.00%, 07/15/43 | 4,865 | 4,910,585 | ||||||
Series S-1, Subordinate, (SAW), 4.00%, 07/15/45 | 2,460 | 2,182,672 | ||||||
Series S-3, Subordinate, (SAW), 5.25%, 07/15/45 | 5,000 | 5,144,325 |
Security | Par (000) | Value | ||||||
State (continued) | ||||||||
New York City Transitional Finance Authority Building Aid Revenue, Refunding RB, | $ | 2,000 | $ | 1,875,670 | ||||
New York State Dormitory Authority, RB | ||||||||
Series A, 4.80%, 12/01/34 | 10,220 | 9,709,971 | ||||||
Series A, 5.00%, 03/15/40 | 1,500 | 1,529,125 | ||||||
Series A, 5.00%, 03/15/43 | 585 | 593,639 | ||||||
New York State Dormitory Authority, Refunding RB | ||||||||
Series A, 5.25%, 03/15/39 | 5,000 | 5,194,495 | ||||||
Series A, 5.00%, 03/15/41 | 10,000 | 10,264,570 | ||||||
Series A, 4.00%, 03/15/43 | 5,000 | 4,501,695 | ||||||
Series A-1, 5.00%, 03/15/42 | 3,105 | 3,213,753 | ||||||
Series C, 2.15%, 03/15/31 | 2,000 | 1,597,030 | ||||||
Series C, 5.00%, 03/15/39 | 8,000 | 8,210,536 | ||||||
Series C, 5.00%, 03/15/41 | 5,000 | 5,112,065 | ||||||
Series E, 5.00%, 03/15/40 | 5,165 | 5,304,445 | ||||||
Series E, 5.00%, 03/15/41 | 3,615 | 3,704,251 | ||||||
New York State Urban Development Corp., RB, | 250 | 250,319 | ||||||
New York State Urban Development Corp., Refunding RB | 4,700 | 4,227,782 | ||||||
4.00%, 03/15/44 | 2,800 | 2,510,225 | ||||||
4.00%, 03/15/46 | 2,625 | 2,295,961 | ||||||
Series A, 5.00%, 03/15/38 | 5,000 | 5,109,690 | ||||||
Series B, 2.77%, 03/15/31 | 7,500 | 6,264,277 | ||||||
Triborough Bridge & Tunnel Authority Sales Tax Revenue, RB, Series A, 5.25%, 05/15/52 | 10,465 | 10,915,403 | ||||||
|
| |||||||
104,622,484 | ||||||||
Tobacco — 3.2% | ||||||||
Chautauqua Tobacco Asset Securitization Corp., Refunding RB, 4.75%, 06/01/39 | 825 | 739,932 | ||||||
Erie Tobacco Asset Securitization Corp., Refunding RB, | 4,595 | 4,051,848 | ||||||
New York Counties Tobacco Trust IV, Refunding RB, | 3,775 | 3,381,067 | ||||||
New York Counties Tobacco Trust VI, Refunding RB | ||||||||
Series A-2B, 5.00%, 06/01/51 | 10,305 | 9,002,376 | ||||||
Series B, 5.00%, 06/01/28 | 90 | 91,481 | ||||||
Series B, 5.00%, 06/01/29 | 105 | 106,640 | ||||||
Series C, 4.00%, 06/01/51 | 4,055 | 2,911,571 | ||||||
Niagara Tobacco Asset Securitization Corp., Refunding RB, 5.25%, 05/15/40 | 1,250 | 1,115,226 | ||||||
TSASC, Inc., Refunding RB | ||||||||
Series A, 5.00%, 06/01/30 | 775 | 788,355 | ||||||
Series A, 5.00%, 06/01/33 | 3,000 | 3,063,477 | ||||||
Series A, 5.00%, 06/01/36 | 5,835 | 5,915,856 | ||||||
Westchester Tobacco Asset Securitization Corp., Refunding RB | ||||||||
Sub-Series C, 4.00%, 06/01/42 | 4,380 | 3,956,336 | ||||||
Sub-Series C, 5.13%, 06/01/51 | 2,375 | 2,205,347 | ||||||
|
| |||||||
37,329,512 | ||||||||
Transportation — 17.6% | ||||||||
Albany County Airport Authority, Refunding RB | ||||||||
Series B, AMT, 4.00%, 12/15/35 | 120 | 109,117 | ||||||
Series B, AMT, 4.00%, 12/15/34 | 235 | 217,142 | ||||||
Metropolitan Transportation Authority, RB | ||||||||
Series A-1, 5.25%, 11/15/23(c) | 1,040 | 1,041,340 | ||||||
Series A-2, 4.00%, 11/15/43 | 7,500 | 6,403,207 | ||||||
Series B, 5.25%, 11/15/33 | 500 | 503,015 |
3 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Transportation (continued) | ||||||||
Metropolitan Transportation Authority, RB (continued) | ||||||||
Series B, 5.25%, 11/15/44 | $ | 2,125 | $ | 2,126,951 | ||||
Series D-3, 4.00%, 11/15/47 | 10,800 | 8,929,116 | ||||||
Series E, 5.00%, 11/15/38 | 2,350 | 2,350,085 | ||||||
Sub-Series A-1, 5.00%, 11/15/40 | 1,645 | 1,645,832 | ||||||
Sub-Series D-1, 5.00%, 11/15/39 | 4,250 | 4,114,841 | ||||||
Metropolitan Transportation Authority, Refunding RB | ||||||||
Series B, 5.00%, 11/15/35 | 1,750 | 1,775,140 | ||||||
Series B, 5.00%, 11/15/37 | 1,500 | 1,508,821 | ||||||
Series C, (AGM-CR), 5.00%, 11/15/38 | 3,385 | 3,461,112 | ||||||
Series C, (BAM-TCRS), 5.00%, 11/15/42 | 3,000 | 3,022,218 | ||||||
Series C, (BAM), 5.00%, 11/15/44 | 4,845 | 4,762,456 | ||||||
Series D, 5.25%, 11/15/23(c) | 670 | 670,863 | ||||||
Series D, 5.00%, 11/15/35 | 2,500 | 2,551,605 | ||||||
New York City Industrial Development Agency, Refunding RB, Series A, AMT, 5.00%, 07/01/28 | 1,905 | 1,874,385 | ||||||
New York Liberty Development Corp., Refunding RB, | ||||||||
Series 1, 2.75%, 02/15/44 | 6,125 | 4,298,145 | ||||||
New York State Bridge Authority, RB | ||||||||
Series A, 4.00%, 01/01/39 | 275 | 257,462 | ||||||
Series A, 4.00%, 01/01/40 | 350 | 324,718 | ||||||
Series A, 4.00%, 01/01/41 | 165 | 151,747 | ||||||
Series A, 4.00%, 01/01/46 | 2,460 | 2,142,798 | ||||||
New York State Thruway Authority, RB | ||||||||
Series N, 4.00%, 01/01/45 | 940 | 831,881 | ||||||
Series A, Junior Lien, 5.25%, 01/01/56 | 4,700 | 4,730,823 | ||||||
New York State Thruway Authority, Refunding RB 5.00%, 03/15/42 | 4,000 | 4,146,740 | ||||||
Series O, 4.00%, 01/01/37 | 4,400 | 4,202,796 | ||||||
Series O, 4.00%, 01/01/40 | 5,000 | 4,608,245 | ||||||
Series O, 4.00%, 01/01/45 | 1,550 | 1,370,653 | ||||||
Series O, 4.00%, 01/01/47 | 2,345 | 2,035,744 | ||||||
Series B, Subordinate, 4.00%, 01/01/41 | 4,075 | 3,633,425 | ||||||
Series B, Subordinate, 4.00%, 01/01/45 | 1,500 | 1,289,484 | ||||||
New York Transportation Development Corp., ARB | ||||||||
AMT, 5.00%, 12/01/35 | 1,510 | 1,505,648 | ||||||
AMT, 5.00%, 12/01/37 | 5,310 | 5,218,307 | ||||||
AMT, 5.00%, 12/01/41 | 2,565 | 2,479,373 | ||||||
Series A, AMT, 5.00%, 07/01/34 | 250 | 238,697 | ||||||
Series A, AMT, 5.00%, 07/01/41 | 750 | 704,014 | ||||||
Series A, AMT, 5.25%, 01/01/50 | 12,220 | 11,952,810 | ||||||
New York Transportation Development Corp., RB, | ||||||||
AMT, 4.00%, 10/31/46 | 1,355 | 1,095,427 | ||||||
New York Transportation Development Corp., Refunding RB, 5.00%, 12/01/38 | 4,250 | 4,314,851 | ||||||
Niagara Falls Bridge Commission, RB, (AGM), 4.16%, 10/01/33 | 1,650 | 1,468,845 | ||||||
Niagara Frontier Transportation Authority, Refunding ARB | ||||||||
AMT, 5.00%, 04/01/32 | 400 | 408,508 | ||||||
AMT, 5.00%, 04/01/33 | 375 | 382,049 | ||||||
AMT, 5.00%, 04/01/34 | 225 | 228,929 | ||||||
AMT, 5.00%, 04/01/35 | 200 | 203,123 | ||||||
AMT, 5.00%, 04/01/36 | 210 | 212,416 | ||||||
AMT, 5.00%, 04/01/37 | 250 | 251,915 | ||||||
AMT, 5.00%, 04/01/38 | 250 | 251,206 | ||||||
AMT, 5.00%, 04/01/39 | 175 | 175,686 | ||||||
Port Authority of New York & New Jersey, ARB | ||||||||
Series 217, 4.00%, 11/01/38 | 2,055 | 1,939,318 | ||||||
Series 221, AMT, 4.00%, 07/15/38 | 2,000 | 1,818,636 |
Security | Par (000) | Value | ||||||
Transportation (continued) | ||||||||
Port Authority of New York & New Jersey, ARB (continued) | ||||||||
Series 218, AMT, 4.00%, 11/01/47 | $ | 4,765 | $ | 4,032,457 | ||||
Port Authority of New York & New Jersey, Refunding ARB | 955 | 967,298 | ||||||
Series 179, 5.00%, 12/01/38 | 150 | 150,139 | ||||||
Series 230, 5.00%, 12/01/42 | 1,890 | 1,960,246 | ||||||
Series 178, AMT, 5.00%, 12/01/43 | 285 | 284,966 | ||||||
Series 186, AMT, 5.00%, 10/15/44 | 1,000 | 989,871 | ||||||
Series 195, AMT, 5.00%, 10/01/35 | 1,655 | 1,657,603 | ||||||
Series 197, AMT, 5.00%, 11/15/41 | 1,250 | 1,253,944 | ||||||
Series 202, AMT, 5.00%, 04/15/37 | 5,000 | 5,051,800 | ||||||
Series 206, AMT, 5.00%, 11/15/37 | 1,525 | 1,540,590 | ||||||
Series 223, AMT, 4.00%, 07/15/41 | 2,370 | 2,075,810 | ||||||
Series 231, AMT, 5.00%, 08/01/38 | 2,500 | 2,544,757 | ||||||
Series 231, AMT, 5.50%, 08/01/39 | 2,500 | 2,635,752 | ||||||
Series 231, AMT, 5.50%, 08/01/40 | 4,000 | 4,202,640 | ||||||
Series 238, AMT, 5.00%, 07/15/39 | 4,000 | 4,055,244 | ||||||
Port Authority of New York & New Jersey, Refunding RB, Series 241, 5.00%, 07/15/41 | 2,500 | 2,600,767 | ||||||
Triborough Bridge & Tunnel Authority, RB | ||||||||
Series A, 5.00%, 11/15/47 | 5,000 | 5,098,955 | ||||||
Series A, 5.00%, 11/15/49 | 4,630 | 4,689,917 | ||||||
Sub-Series B-1, 5.00%, 11/15/48 | 7,760 | 7,951,587 | ||||||
Triborough Bridge & Tunnel Authority, Refunding RB | ||||||||
Series A, 4.00%, 05/15/42 | 3,000 | 2,681,706 | ||||||
Series A, 5.00%, 05/15/47 | 2,500 | 2,551,957 | ||||||
Series B, 5.00%, 11/15/38 | 9,000 | 9,183,807 | ||||||
Series C, 5.25%, 05/15/52 | 12,610 | 13,028,677 | ||||||
Series C-2, 5.00%, 11/15/42 | 6,380 | 6,485,436 | ||||||
|
| |||||||
203,617,591 | ||||||||
Utilities — 15.4% | ||||||||
Long Island Power Authority, RB 5.00%, 09/01/38 | 4,200 | 4,320,401 | ||||||
5.00%, 09/01/39 | 9,875 | 10,141,151 | ||||||
5.00%, 09/01/42 | 1,000 | 1,016,532 | ||||||
5.00%, 09/01/47 | 2,225 | 2,247,237 | ||||||
Series C, (AGC), 5.25%, 09/01/29 | 3,500 | 3,781,326 | ||||||
Series E, 5.00%, 09/01/48 | 6,335 | 6,464,982 | ||||||
Long Island Power Authority, Refunding RB | ||||||||
Series A, 4.00%, 09/01/38 | 2,900 | 2,759,684 | ||||||
Series A, 4.00%, 09/01/39 | 3,000 | 2,854,294 | ||||||
Series A, 4.00%, 09/01/42 | 1,500 | 1,375,599 | ||||||
Series A, 5.00%, 09/01/43 | 3,170 | 3,265,873 | ||||||
Series B, 1.50%, 09/01/51(d) | 2,500 | 2,282,668 | ||||||
New York City Municipal Water Finance Authority, RB, | ||||||||
Series AA, 4.00%, 06/15/43 | 5,000 | 4,595,040 | ||||||
New York City Municipal Water Finance Authority, Refunding RB | ||||||||
Series BB-1, 4.00%, 06/15/45 | 16,410 | 14,809,910 | ||||||
Series DD, 4.13%, 06/15/46 | 7,500 | 6,799,140 | ||||||
Series DD, 5.25%, 06/15/46 | 7,500 | 7,873,335 | ||||||
Series DD-2, 5.00%, 06/15/40 | 3,455 | 3,545,137 | ||||||
Series EE, 4.00%, 06/15/39 | 2,500 | 2,386,993 | ||||||
Series FF, 5.00%, 06/15/40 | 11,500 | 11,834,937 | ||||||
Series BB-2, VRDN, 4.65%, 10/06/23(d)(e) | 15,000 | 15,000,000 | ||||||
New York Power Authority, RB | ||||||||
(AGM), 4.00%, 11/15/47 | 14,500 | 12,558,479 | ||||||
Series A, (AGM), 5.75%, 11/15/33 | 5,000 | 5,105,735 |
SCHEDULE OF INVESTMENTS | 4 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Utilities (continued) | ||||||||
New York Power Authority, Refunding RB | ||||||||
Series A, 4.00%, 11/15/45 | $ | 12,375 | $ | 11,286,371 | ||||
Series A, 4.00%, 11/15/50 | 12,990 | 11,376,707 | ||||||
New York State Environmental Facilities Corp., RB, BAB, 5.81%, 06/15/39 | 1,000 | 1,004,196 | ||||||
Utility Debt Securitization Authority, RB | ||||||||
Restructured, 5.00%, 12/15/38 | 2,875 | 2,949,417 | ||||||
Restructured, 5.00%, 12/15/40 | 14,695 | 15,044,285 | ||||||
Utility Debt Securitization Authority, Refunding RB | ||||||||
Restructured, 5.00%, 12/15/36 | 1,865 | 1,889,523 | ||||||
Restructured, 5.00%, 12/15/37 | 500 | 504,403 | ||||||
Series TE1, Restructured, 5.00%, 12/15/38 | 9,000 | 9,492,822 | ||||||
|
| |||||||
178,566,177 | ||||||||
|
| |||||||
Total Municipal Bonds in New York | 940,198,358 | |||||||
Puerto Rico — 5.5% | ||||||||
State — 4.4% | ||||||||
Commonwealth of Puerto Rico, GO | 11,927 | 4,830,518 | ||||||
Series A-1, 0.00%, 11/01/43(d) | 9,350 | 4,839,170 | ||||||
Series A-1, Restructured, 5.63%, 07/01/29 | 2,619 | 2,704,161 | ||||||
Series A-1, Restructured, 5.75%, 07/01/31 | 1,092 | 1,140,530 | ||||||
Series A-1, Restructured, 4.00%, 07/01/33 | 1,036 | 927,605 | ||||||
Series A-1, Restructured, 4.00%, 07/01/35 | 931 | 808,446 | ||||||
Series A-1, Restructured, 4.00%, 07/01/37 | 799 | 673,785 | ||||||
Series A-1, Restructured, 4.00%, 07/01/41 | 1,087 | 874,839 | ||||||
Series A-1, Restructured, 4.00%, 07/01/46 | 1,130 | 869,289 | ||||||
Commonwealth of Puerto Rico, GO, CAB, Series A, Restructured, 0.00%, 07/01/33(b) | 1,333 | 775,198 | ||||||
Commonwealth of Puerto Rico, RB, | 546 | 190,988 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB | ||||||||
Series A-2, Convertible, Restructured, | 182 | 162,197 | ||||||
Series A-1, Restructured, 4.75%, 07/01/53 | 13,005 | 11,419,677 | ||||||
Series A-2, Restructured, 4.54%, 07/01/53 | 49 | 41,084 | ||||||
Series A-2, Restructured, 4.78%, 07/01/58 | 5,323 | 4,617,442 | ||||||
Series A-2, Restructured, 4.33%, 07/01/40 | 7,388 | 6,592,608 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB(b) | ||||||||
Series A-1, Restructured, 0.00%, 07/01/29 | 490 | 377,545 | ||||||
Series A-1, Restructured, 0.00%, 07/01/33 | 1,423 | 900,577 | ||||||
Series A-1, Restructured, 0.00%, 07/01/46 | 30,024 | 7,758,502 | ||||||
Series B-1, Restructured, 0.00%, 07/01/46 | 2,677 | 668,326 | ||||||
|
| |||||||
51,172,487 | ||||||||
Utilities — 1.1% | ||||||||
Puerto Rico Electric Power Authority, RB | ||||||||
Series 3, 5.40%, 01/01/20(d)(f)(g) | 278 | 69,708 | ||||||
Series A, 5.00%, 07/01/29(f)(g) | 1,860 | 467,226 | ||||||
Series A, 7.00%, 07/01/33(f)(g) | 1,025 | 257,477 | ||||||
Series A, 5.00%, 07/01/42(f)(g) | 2,185 | 548,866 | ||||||
Series A, 7.00%, 07/01/43(f)(g) | 410 | 102,991 | ||||||
Series A-3, 10.00%, 07/01/19(f)(g) | 999 | 250,959 | ||||||
Series B-3, 10.00%, 07/01/19(f)(g) | 999 | 250,959 | ||||||
Series C-1, 5.40%, 01/01/18(f)(g) | 2,745 | 689,496 | ||||||
Series C-2, 5.40%, 07/01/18(f)(g) | 2,745 | 689,607 | ||||||
Series C-4, 5.40%, 07/01/20(f)(g) | 277 | 69,708 | ||||||
Series CCC, 5.25%, 07/01/26(f)(g) | 770 | 193,422 | ||||||
Series CCC, 5.25%, 07/01/28(f)(g) | 440 | 110,527 |
Security | Par (000) | Value | ||||||
Utilities (continued) | ||||||||
Puerto Rico Electric Power Authority, RB (continued) | ||||||||
Series D-4, 7.50%, 07/01/20 | $ | 1,726 | $ | 433,585 | ||||
Series TT, 5.00%, 07/01/25(f)(g) | 210 | 52,751 | ||||||
Series TT, 5.00%, 07/01/26(f)(g) | 565 | 141,926 | ||||||
Series WW, 5.50%, 07/01/17(f)(g) | 610 | 153,230 | ||||||
Series WW, 5.50%, 07/01/18(f)(g) | 535 | 134,390 | ||||||
Series WW, 5.50%, 07/01/19(f)(g) | 435 | 109,271 | ||||||
Series WW, 5.38%, 07/01/24(f)(g) | 385 | 96,711 | ||||||
Series WW, 5.25%, 07/01/33(f)(g) | 420 | 105,503 | ||||||
Series WW, 5.50%, 07/01/38(f)(g) | 520 | 130,622 | ||||||
Series XX, 5.25%, 07/01/27(f)(g) | 285 | 71,591 | ||||||
Series XX, 5.25%, 07/01/35(f)(g) | 185 | 46,471 | ||||||
Series XX, 5.75%, 07/01/36(f)(g) | 260 | 65,311 | ||||||
Series XX, 5.25%, 07/01/40(f)(g) | 5,345 | 1,342,648 | ||||||
Series A, AMT, 6.75%, 07/01/36(f)(g) | 3,560 | 894,261 | ||||||
Puerto Rico Electric Power Authority, Refunding RB | ||||||||
Series AAA, 5.25%, 07/01/22(f)(g) | 990 | 248,685 | ||||||
Series AAA, 5.25%, 07/01/23 | 2,670 | 670,696 | ||||||
Series AAA, 5.25%, 07/01/28(f)(g) | 5,655 | 1,420,519 | ||||||
Series AAA, 5.25%, 07/01/29(f)(g) | 235 | 59,031 | ||||||
Series BBB, 5.40%, 07/01/28 | 1,240 | 311,484 | ||||||
Series UU, 0.00%, 07/01/17(d)(f)(g) | 185 | 46,472 | ||||||
Series UU, 0.00%, 07/01/18(d)(f)(g) | 165 | 41,448 | ||||||
Series UU, 1.32%, 07/01/20(d)(f)(g) | 1,475 | 370,516 | ||||||
Series UU, 4.41%, 07/01/31(d)(f)(g) | 1,755 | 440,851 | ||||||
Series ZZ, 5.00%, 07/01/17(f)(g) | 430 | 108,015 | ||||||
Series ZZ, 5.25%, 07/01/19(f)(g) | 1,370 | 344,140 | ||||||
Series ZZ, 5.00%, 07/01/20 | 2,220 | 557,657 | ||||||
Series ZZ, 5.25%, 07/01/24(f)(g) | 875 | 219,797 | ||||||
Series ZZ, 5.00%, 07/01/28(f)(g) | 435 | 109,271 | ||||||
Puerto Rico Electric Power Authority, Refunding RB, BAB, Series YY, 6.13%, 07/01/40 | 1,860 | 467,226 | ||||||
|
| |||||||
12,895,025 | ||||||||
|
| |||||||
Total Municipal Bonds in Puerto Rico | 64,067,512 | |||||||
|
| |||||||
Total Municipal Bonds — 86.8% | 1,004,818,483 | |||||||
|
| |||||||
Municipal Bonds Transferred to Tender Option Bond Trusts(h) | ||||||||
New York — 10.9% | ||||||||
County/City/Special District/School District — 5.0% | ||||||||
City of New York, GO, Series A-1, | 10,000 | 10,504,195 | ||||||
Hudson Yards Infrastructure Corp., Refunding RB | ||||||||
Series A, 5.00%, 02/15/38 | 17,485 | 17,919,421 | ||||||
Series A, 5.00%, 02/15/39 | 9,005 | 9,212,472 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, RB | ||||||||
Series D-1, 5.25%, 11/01/43 | 2,960 | 3,107,828 | ||||||
Series D-1, 5.50%, 11/01/45 | 5,910 | 6,332,766 | ||||||
Series D-1, 5.25%, 11/01/48 | 10,000 | 10,380,065 | ||||||
|
| |||||||
57,456,747 | ||||||||
State — 2.1% | ||||||||
New York State Dormitory Authority, Refunding RB, | ||||||||
Series E, 5.00%, 03/15/42 | 9,410 | 9,619,947 |
5 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
State (continued) | ||||||||
New York State Urban Development Corp., Refunding RB | $ | 10,000 | $ | 10,377,725 | ||||
5.00%, 03/15/44 | 4,220 | 4,351,995 | ||||||
|
| |||||||
24,349,667 | ||||||||
Transportation — 2.7% | ||||||||
Metropolitan Transportation Authority, Refunding RB, | ||||||||
Series C, 5.00%, 11/15/41 | 11,365 | 11,535,319 | ||||||
Port Authority of New York & New Jersey, Refunding ARB, AMT, Series 178, 5.00%, 12/01/32 | 991 | 991,813 | ||||||
Triborough Bridge & Tunnel Authority, RB, Senior Lien, Series D-2, 5.25%, 05/15/47 | 8,410 | 8,789,081 | ||||||
Triborough Bridge & Tunnel Authority, Refunding RB, | 10,000 | 10,134,040 | ||||||
|
| |||||||
31,450,253 | ||||||||
Utilities — 1.1% | ||||||||
New York City Municipal Water Finance Authority, Refunding RB, Series AA-3, 5.00%, 06/15/47 | 12,500 | 12,826,250 | ||||||
|
| |||||||
Total Municipal Bonds in New York |
| 126,082,917 | ||||||
|
| |||||||
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 10.9% |
| 126,082,917 | ||||||
|
| |||||||
Total Long-Term Investments — 98.2% |
| 1,136,602,761 | ||||||
|
| |||||||
Shares | ||||||||
Short-Term Securities | ||||||||
Money Market Funds — 5.4% | ||||||||
BlackRock Liquidity Funds New York Money Fund Portfolio, 4.00%(i)(j) | 62,878,386 | 62,878,386 | ||||||
|
| |||||||
Total Short-Term Securities — 5.4% | 62,878,386 | |||||||
|
| |||||||
Total Investments — 103.6% | 1,199,481,147 | |||||||
Other Assets Less Liabilities — 1.7% |
| 20,242,999 | ||||||
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (5.3)% |
| (61,677,762 | ) | |||||
|
| |||||||
Net Assets — 100.0% | $ | 1,158,046,384 | ||||||
|
|
(a) | 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. |
(b) | Zero-coupon bond. |
(c) | 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. |
(d) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(e) | Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
(f) | Issuer filed for bankruptcy and/or is in default. |
(g) | Non-income producing security. |
(h) | Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing. |
(i) | Affiliate of the Fund. |
(j) | Annualized 7-day yield as of period end. |
For Fund compliance purposes, the Fund’s sector classifications refer to one or more of the sector 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 sector sub-classifications for reporting ease.
SCHEDULE OF INVESTMENTS | 6 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock New York Municipal Opportunities Fund |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended September 30, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 06/30/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in | Value at 09/30/23 | Shares Held at 09/30/23 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||||||||||||
BlackRock Liquidity Funds New York Money Fund Portfolio | $ | 32,373,529 | $ | 30,504,857 | (a) | $ | — | $ | — | $ | — | $ | 62,878,386 | 62,878,386 | $ | 511,924 | $ | — | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
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 | 895 | 12/19/23 | $ | 96,674 | $ | 1,720,431 | ||||||||||
U.S. Long Bond | 806 | 12/19/23 | 91,758 | 3,395,171 | ||||||||||||
5-Year U.S. Treasury Note | 622 | 12/29/23 | 65,514 | 520,813 | ||||||||||||
|
| |||||||||||||||
$ | 5,636,415 | |||||||||||||||
|
|
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 Fund 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 Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Corporate Bonds | $ | — | $ | 5,701,361 | $ | — | $ | 5,701,361 | ||||||||
Municipal Bonds | — | 1,004,818,483 | — | 1,004,818,483 | ||||||||||||
Municipal Bonds Transferred to Tender Option Bond Trusts | — | 126,082,917 | — | 126,082,917 |
7 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock New York Municipal Opportunities Fund |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | $ | 62,878,386 | $ | — | $ | — | $ | 62,878,386 | ||||||||
Unfunded Commitments(a) | — | — | 5,517,985 | 5,517,985 | ||||||||||||
|
|
|
|
|
|
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$ | 62,878,386 | $ | 1,136,602,761 | $ | 5,517,985 | $ | 1,204,999,132 | |||||||||
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Derivative Financial Instruments(b) | ||||||||||||||||
Assets | ||||||||||||||||
Interest Rate Contracts | $ | 5,636,415 | $ | — | $ | — | $ | 5,636,415 | ||||||||
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(a) | Unfunded commitments are valued at the unrealized appreciation (depreciation) on the commitment. |
(b) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, TOB Trust Certificates of $61,300,988 are categorized as Level 2 within the fair value hierarchy.
Portfolio Abbreviation | ||
AGC | Assured Guaranty Corp. | |
AGM | Assured Guaranty Municipal Corp. | |
AGM-CR | AGM Insured Custodial Receipt | |
AMBAC | AMBAC Assurance Corp. | |
AMT | Alternative Minimum Tax | |
ARB | Airport Revenue Bonds | |
BAB | Build America Bond | |
BAM | Build America Mutual Assurance Co. | |
BAM-TCRS | Build America Mutual Assurance Co.- Transferable Custodial Receipts | |
BHAC-CR | Berkshire Hathaway Assurance Corp. - Custodian Receipt | |
CAB | Capital Appreciation Bonds | |
CR | Custodian Receipt | |
FHLMC | Federal Home Loan Mortgage Corp. | |
FNMA | Federal National Mortgage Association | |
GNMA | Government National Mortgage Association | |
GO | General Obligation Bonds | |
M/F | Multi-Family | |
RB | Revenue Bond | |
S/F | Single-Family | |
SAW | State Aid Withholding | |
SONYMA | State of New York Mortgage Agency | |
VRDN | Variable Rate Demand Note |
SCHEDULE OF INVESTMENTS | 8 |