BlackRock Health Sciences Trust (BME) NPORT-P BlackRock Health Sciences Trust (Mar 2022 report)

Schedule of Investments  (unaudited)  March 31, 2022 BlackRock Health Sciences Trust (BME) (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Biotechnology — 18.2%
AbbVie, Inc.		119,589	$	19,386,573
Acumen Pharmaceuticals, Inc.(a)		91,591		358,121
Acumen Pharmaceuticals, Inc., (Acquired 06/17/21, Cost: $231,999)(b)		61,060		238,745
Agios Pharmaceuticals, Inc.(a)		10,515		306,092
Alnylam Pharmaceuticals, Inc.(a)		15,583		2,544,548
Ambrx Biopharma, Inc., ADR(a)		43,409		178,845
Amgen, Inc.(c)		62,902		15,210,962
Arcus Biosciences, Inc.(a)		8,600		271,416
Arcutis Biotherapeutics, Inc.(a)		42,854		825,368
Argenx SE, ADR(a)		5,340		1,683,755
Biogen, Inc.(a)		37,060		7,804,836
BioMarin Pharmaceutical, Inc.(a)		32,659		2,518,009
Blueprint Medicines Corp.(a)		8,268		528,160
Cerevel Therapeutics Holdings, Inc.(a)		16,785		587,643
Connect Biopharma Holdings Ltd.(a)		33,960		102,559
Decibel Therapeutics, Inc.(a)		46,884		142,527
Design Therapeutics, Inc.(a)		13,967		225,567
Enanta Pharmaceuticals, Inc.(a)		3,150		224,217
Everest Medicines Ltd.(a)(d)		30,500		99,380
Exact Sciences Corp.(a)		14,850		1,038,312
Genmab A/S(a)		3,493		1,261,508
Genmab A/S, ADR(a)		16,911		611,840
Gilead Sciences, Inc.		84,084		4,998,794
Horizon Therapeutics PLC(a)		19,895		2,093,153
Imago Biosciences, Inc.(a)		47,824		921,568
Immuneering Corp., Class A(a)		14,456		93,530
Immunocore Holdings PLC, ADR(a)		9,668		289,073
Incyte Corp.(a)		26,247		2,084,537
Kronos Bio, Inc.(a)		16,099		116,396
Krystal Biotech, Inc.(a)		5,553		369,497
Mirati Therapeutics, Inc.(a)		8,661		712,107
Moderna, Inc.(a)		27,750		4,780,215
Monte Rosa Therapeutics, Inc.(a)		28,575		400,621
Neurocrine Biosciences, Inc.(a)		22,637		2,122,219
PMV Pharmaceuticals, Inc.(a)		17,490		364,142
Point Biopharma Global, Inc.(a)		27,000		215,190
Prothena Corp. PLC(a)		21,064		770,310
PTC Therapeutics, Inc.(a)		4,745		177,036
Regeneron Pharmaceuticals, Inc.(a)		11,420		7,975,956
Revolution Medicines, Inc.(a)		10,535		268,748
Sarepta Therapeutics, Inc.(a)		20,473		1,599,351
Seagen, Inc.(a)		67,648		9,744,694
Sierra Oncology, Inc.(a)		10,571		338,800
Sigilon Therapeutics, Inc.(a)		19,555		28,746
Talaris Therapeutics, Inc.(a)		23,939		235,560
Tenaya Therapeutics, Inc.(a)(e)		25,502		300,413
TScan Therapeutics, Inc.(a)		29,940		83,832
Vertex Pharmaceuticals, Inc.(a)		40,578		10,589,641
				107,823,112
Diversified Financial Services(a) — 0.3%
Health Assurance Acquisition Corp., Class A		90,235		888,815
Health Sciences Acquisitions Corp. 2		13,696		135,727
Helix Acquisition Corp., Class A		11,715		130,037
MedTech Acquisition Corp., Class A		42,753		418,979
				1,573,558
Health Care Equipment & Supplies — 19.9%
Abbott Laboratories(c)		173,407		20,524,452

Security	Shares		Value
Health Care Equipment & Supplies (continued)
ABIOMED, Inc.(a)		14,359	$	4,756,275
Alcon, Inc.		49,720		3,944,288
Align Technology, Inc.(a)		5,355		2,334,780
Baxter International, Inc		64,807		5,025,135
Boston Scientific Corp.(a)		280,032		12,402,617
Cooper Cos., Inc.		4,645		1,939,706
DexCom, Inc.(a)		9,460		4,839,736
Edwards Lifesciences Corp.(a)		72,145		8,492,909
IDEXX Laboratories, Inc.(a)		5,510		3,014,301
Insulet Corp.(a)		3,650		972,323
Intuitive Surgical, Inc.(a)		33,459		10,093,911
Masimo Corp.(a)		15,427		2,245,246
Medtronic PLC		85,741		9,512,964
Nevro Corp.(a)		40,253		2,911,499
Novocure Ltd.(a)		10,555		874,482
ResMed, Inc.		18,667		4,526,934
Stryker Corp.		38,911		10,402,856
Tandem Diabetes Care, Inc.(a)		10,265		1,193,717
Teleflex, Inc.		12,205		4,330,700
Zimmer Biomet Holdings, Inc.		29,812		3,812,955
ZimVie, Inc.		4,980		113,743
				118,265,529
Health Care Providers & Services — 23.6%
Agiliti, Inc.(a)		75,106		1,584,737
Agilon Health, Inc.(a)		21,477		544,442
Amedisys, Inc.(a)		19,757		3,403,934
AmerisourceBergen Corp.		50,520		7,815,949
Anthem, Inc.(c)		35,417		17,397,539
CareMax, Inc., (Acquired 07/22/21, Cost: $257,350)(b)		25,735		192,240
CareMax, Inc.(a)		21,007		156,922
Centene Corp.(a)		67,852		5,712,460
Cigna Corp.		68,869		16,501,701
Encompass Health Corp.		40,167		2,856,275
Guardant Health, Inc.(a)		11,675		773,352
HCA Healthcare, Inc		33,930		8,503,537
Henry Schein, Inc.(a)		42,335		3,691,189
LHC Group, Inc.(a)		20,224		3,409,766
McKesson Corp.		13,300		4,071,529
Quest Diagnostics, Inc.		55,835		7,641,578
UnitedHealth Group, Inc.(c)		110,124		56,159,936
				140,417,086
Health Care Technology(a) — 0.4%
Omnicell, Inc.		6,425		831,973
Teladoc Health, Inc.		21,980		1,585,418
				2,417,391
Life Sciences Tools & Services — 10.7%
10X Genomics, Inc., Class A(a)		8,445		642,411
Agilent Technologies, Inc.		21,380		2,829,216
Avantor, Inc.(a)		122,559		4,144,945
Danaher Corp.		61,730		18,107,261
Icon PLC(a)		12,815		3,116,864
Illumina, Inc.(a)		10,337		3,611,748
IQVIA Holdings, Inc.(a)		21,568		4,986,737
IsoPlexis Corp.(a)(e)		30,336		104,053
Nautilus Biotechnology, Inc.(a)		16,560		71,870
QIAGEN NV(a)		23,635		1,158,115
Rapid Micro Biosystems, Inc., Class A(a)		20,561		139,609

1

Schedule of Investments  (unaudited) (continued) March 31, 2022 BlackRock Health Sciences Trust (BME) (Percentages shown are based on Net Assets)

Security	Shares		Value
Life Sciences Tools & Services (continued)
Thermo Fisher Scientific, Inc.(c)(f)		39,878	$	23,553,941
West Pharmaceutical Services, Inc.		2,635		1,082,221
				63,548,991
Pharmaceuticals — 22.1%
AstraZeneca PLC		69,935		9,274,283
AstraZeneca PLC, ADR		23,520		1,560,317
Bristol-Myers Squibb Co.		101,098		7,383,187
Daiichi Sankyo Co. Ltd.		104,800		2,288,516
Eli Lilly & Co.		83,998		24,054,507
Hansoh Pharmaceutical Group Co. Ltd.(d)		882,438		1,467,269
Johnson & Johnson(f)		147,424		26,127,956
Merck & Co., Inc.(c)		177,147		14,534,911
Pfizer, Inc.(c)		434,086		22,472,632
Roche Holding AG		5,417		2,143,299
Sanofi		65,400		6,686,469
Sanofi, ADR		54,625		2,804,447
Zoetis, Inc.		56,189		10,596,684
				131,394,477
Total Common Stocks — 95.2% (Cost: $376,306,216)				565,440,144
	Benefical Interest (000)
Other Interests(g)
Pharmaceuticals — 0.0%
Afferent Pharmaceuticals, Inc.(h)	$	190		157,833
Total Other Interests — 0.0% (Cost: $ — )				157,833
	Shares
Preferred Securities
Preferred Stocks — 0.9%(b)(h)
Biotechnology — 0.3%
Affinvax, Inc., Series C, (Acquired 01/06/21, Cost: $199,992)		6,331		219,939
Cellarity, Inc., Series B, (Acquired 01/15/21, Cost: $265,002)		44,167		212,002
Goldfinch Bio, Inc., Series B, (Acquired 06/26/20, Cost: $224,200)		190,000		275,500
Laronde, Inc., Series B, (Acquired 07/28/21, Cost: $590,800)		21,100		590,800
Neurogene, Inc., Series B, (Acquired 12/14/20, Cost: $260,568)		106,790		260,567
				1,558,808
Health Care Equipment & Supplies — 0.4%
Exo Imaging, Inc., Series C, (Acquired 06/24/21, Cost: $595,999)		101,741		511,757
Nucleix Ltd., Series AA, (Acquired 03/25/21, Cost: $1,070,001)		367,395		1,146,272
Quanta Dialysis Technologies Ltd., Series D, (Acquired 06/18/21, Cost: $515,759)		4,243,029		468,204
Swift Health Systems, Inc., Series D, (Acquired 08/27/21, Cost: $286,998)		92,580		245,337
				2,371,570

Security	Shares		Value
Pharmaceuticals — 0.1%
Insitro, Inc., Series C, (Acquired 03/10/21, Cost: $560,000)		30,616	$	420,052
Software — 0.1%
Carbon Health Technologies, Inc., (Acquired 07/09/21, Cost: $907,000)		907		906,737
				5,257,167
Total Preferred Securities — 0.9% (Cost: $5,476,319)				5,257,167
Warrants
Health Care Providers & Services(a) — 0.0%
CareMax, Inc. (Expires 07/16/2025)		4,201		6,301
Health Assurance Acquisition Corp. (Expires 11/12/2025)		22,558		11,505
				17,806
Pharmaceuticals — 0.0%
Nuvation Bio, Inc. (Expires 07/07/2027)(a)		4,050		3,079
Total Warrants — 0.0% (Cost: $82,675)				20,885
Total Long-Term Investments — 96.1% (Cost: $381,865,210)				570,876,029
Short-Term Securities
Money Market Funds — 4.9%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.21%(i)(j)		28,660,206		28,660,206
SL Liquidity Series, LLC, Money Market Series, 0.43%(i)(j)(k)		125,078		125,040
Total Short-Term Securities — 4.9% (Cost: $28,785,243)				28,785,246
Total Investments Before Options Written — 101.0% (Cost: $410,650,453)				599,661,275
Options Written — (1.3)% (Premiums Received: $(5,600,449))				(7,413,569	)
Total Investments, Net of Options Written — 99.7% (Cost: $405,050,004)				592,247,706
Other Assets Less Liabilities — 0.3%				1,662,646
Net Assets — 100.0%			$	593,910,352

^(a)  Non-income producing security.

^(b)  Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $5,688,152, representing 1.0% of its net assets as of period end, and an original cost of $5,965,668.

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

^(d)  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.

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

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

⁽ⁱ⁾  Affiliate of the Trust.

S C H E D U L E  O F  I N V E S T M  E N T S 2

Schedule of Investments  (unaudited) (continued) March 31, 2022 BlackRock Health Sciences Trust (BME)

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

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

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 12/31/21		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 03/31/22		Shares Held at 03/31/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class	$	27,581,316	$	1,078,890	(a)	$	—		$	—		$	—	$	28,660,206		28,660,206	$	3,278		$	—
SL Liquidity Series, LLC, Money Market Series		211,489		—			(86,261	)(a)		(199	)		11		125,040		125,078		3,047	(b)		—
									$	(199	)	$	11	$	28,785,246			$	6,325		$	—

^(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.

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
Baxter International, Inc.		159		04/01/22	USD	83.00	USD	1,233	$	(1,590	)
Boston Scientific Corp.		100		04/01/22	USD	45.00	USD	443		(800	)
Cigna Corp.		70		04/01/22	USD	240.00	USD	1,677		(9,450	)
Illumina, Inc.		28		04/01/22	USD	350.00	USD	978		(8,400	)
Intuitive Surgical, Inc.		16		04/01/22	USD	305.00	USD	483		(2,320	)
UnitedHealth Group, Inc.		209		04/01/22	USD	485.00	USD	10,658		(554,372	)
Vertex Pharmaceuticals, Inc.		55		04/01/22	USD	240.00	USD	1,435		(127,325	)
Amgen, Inc.		70		04/08/22	USD	235.00	USD	1,693		(58,275	)
Anthem, Inc.		14		04/08/22	USD	455.00	USD	688		(52,150	)
Boston Scientific Corp.		332		04/08/22	USD	45.00	USD	1,470		(11,952	)
Centene Corp.		112		04/08/22	USD	86.00	USD	943		(8,400	)
Cigna Corp.		111		04/08/22	USD	240.00	USD	2,660		(37,185	)
Danaher Corp.		76		04/08/22	USD	270.00	USD	2,229		(185,060	)
Edwards Lifesciences Corp.		136		04/08/22	USD	113.00	USD	1,601		(72,760	)
Medtronic PLC		108		04/08/22	USD	107.00	USD	1,198		(45,630	)
Pfizer, Inc.		415		04/08/22	USD	49.00	USD	2,148		(123,670	)
Quest Diagnostics, Inc.		73		04/08/22	USD	139.00	USD	999		(5,750	)
Tandem Diabetes Care, Inc.		12		04/08/22	USD	125.00	USD	140		(1,260	)
UnitedHealth Group, Inc.		126		04/08/22	USD	495.00	USD	6,426		(235,305	)
10X Genomics, Inc., Class A		8		04/14/22	USD	80.00	USD	61		(2,100	)
Abbott Laboratories		368		04/14/22	USD	125.00	USD	4,356		(6,808	)
ABIOMED, Inc.		31		04/14/22	USD	330.00	USD	1,027		(29,605	)
Alcon, Inc.		51		04/14/22	USD	82.50	USD	405		(2,805	)
Align Technology, Inc.		20		04/14/22	USD	460.00	USD	872		(14,200	)
Alnylam Pharmaceuticals, Inc.		33		04/14/22	USD	170.00	USD	539		(11,303	)
AmerisourceBergen Corp.		32		04/14/22	USD	145.00	USD	495		(32,480	)
Amgen, Inc.		61		04/14/22	USD	242.50	USD	1,475		(17,385	)
Anthem, Inc.		73		04/14/22	USD	480.00	USD	3,586		(123,370	)
Argenx SE		15		04/14/22	USD	320.00	USD	473		(12,000	)
AstraZeneca PLC		89		04/14/22	USD	65.00	USD	590		(17,577	)

3

Schedule of Investments  (unaudited) (continued) March 31, 2022 BlackRock Health Sciences Trust (BME)

Exchange-Traded Options Written (continued)    

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
Avantor, Inc.		268		04/14/22	USD	37.80	USD	906	$	(641	)
Biogen, Inc.		140		04/14/22	USD	230.00	USD	2,948		(19,950	)
BioMarin Pharmaceutical, Inc.		123		04/14/22	USD	95.00	USD	948		(12,300	)
Blueprint Medicines Corp.		23		04/14/22	USD	80.00	USD	147		(2,530	)
Boston Scientific Corp.		273		04/14/22	USD	43.00	USD	1,209		(50,368	)
Cerevel Therapeutics Holdings, Inc.		32		04/14/22	USD	30.00	USD	112		(18,880	)
Cigna Corp.		80		04/14/22	USD	230.00	USD	1,917		(94,000	)
Cooper Cos., Inc.		4		04/14/22	USD	410.00	USD	167		(5,480	)
Danaher Corp.		71		04/14/22	USD	290.00	USD	2,083		(51,120	)
DexCom, Inc.		17		04/14/22	USD	453.00	USD	870		(104,087	)
Edwards Lifesciences Corp.		250		04/14/22	USD	125.00	USD	2,943		(10,000	)
Enanta Pharmaceuticals, Inc.		5		04/14/22	USD	75.00	USD	36		(1,500	)
Gilead Sciences, Inc.		254		04/14/22	USD	65.00	USD	1,510		(1,905	)
Guardant Health, Inc.		22		04/14/22	USD	85.00	USD	146		(440	)
HCA Healthcare, Inc.		94		04/14/22	USD	280.00	USD	2,356		(1,880	)
Incyte Corp.		45		04/14/22	USD	75.00	USD	357		(23,400	)
Insulet Corp.		2		04/14/22	USD	270.00	USD	53		(1,780	)
Intuitive Surgical, Inc.		57		04/14/22	USD	320.00	USD	1,720		(8,265	)
IQVIA Holdings, Inc.		37		04/14/22	USD	250.00	USD	855		(2,405	)
LHC Group, Inc.		38		04/14/22	USD	140.00	USD	641		(108,680	)
Merck & Co., Inc.		137		04/14/22	USD	80.00	USD	1,124		(35,003	)
Novocure Ltd.		40		04/14/22	USD	70.00	USD	331		(55,000	)
Pfizer, Inc.		130		04/14/22	USD	50.00	USD	673		(29,900	)
Prothena Corp. PLC		40		04/14/22	USD	40.00	USD	146		(2,900	)
Qiagen NV		72		04/14/22	USD	55.00	USD	353		(3,420	)
Regeneron Pharmaceuticals, Inc.		21		04/14/22	USD	650.00	USD	1,467		(108,255	)
ResMed, Inc.		35		04/14/22	USD	250.00	USD	849		(7,175	)
Revolution Medicines, Inc.		15		04/14/22	USD	21.50	USD	38		(7,516	)
Sanofi, ADR		55		04/14/22	USD	55.00	USD	282		(550	)
Sarepta Therapeutics, Inc.		50		04/14/22	USD	90.00	USD	391		(1,875	)
Seagen, Inc.		115		04/14/22	USD	135.00	USD	1,657		(126,500	)
Sierra Oncology, Inc.		20		04/14/22	USD	40.00	USD	64		(1,400	)
Stryker Corp.		82		04/14/22	USD	270.00	USD	2,192		(30,340	)
Teladoc Health, Inc.		12		04/14/22	USD	95.00	USD	87		(300	)
Teleflex, Inc.		38		04/14/22	USD	330.00	USD	1,348		(100,700	)
Thermo Fisher Scientific, Inc.		151		04/14/22	USD	590.00	USD	8,919		(157,040	)
Vertex Pharmaceuticals, Inc.		50		04/14/22	USD	250.00	USD	1,305		(76,000	)
West Pharmaceutical Services, Inc.		5		04/14/22	USD	400.00	USD	205		(8,425	)
Zimmer Biomet Holdings, Inc.		40		04/14/22	USD	130.00	USD	512		(11,700	)
Zoetis, Inc.		107		04/14/22	USD	210.00	USD	2,018		(1,605	)
AmerisourceBergen Corp.		136		04/22/22	USD	150.00	USD	2,104		(89,760	)
Amgen, Inc.		54		04/22/22	USD	235.00	USD	1,306		(50,625	)
Anthem, Inc.		47		04/22/22	USD	480.00	USD	2,309		(102,225	)
Baxter International, Inc.		177		04/22/22	USD	88.00	USD	1,372		(30,090	)
Boston Scientific Corp.		273		04/22/22	USD	44.00	USD	1,209		(36,582	)
Centene Corp.		75		04/22/22	USD	86.00	USD	631		(12,188	)
Eli Lilly & Co.		110		04/22/22	USD	265.00	USD	3,150		(256,850	)
Illumina, Inc.		22		04/22/22	USD	345.00	USD	769		(36,520	)
Johnson & Johnson		266		04/22/22	USD	175.00	USD	4,714		(117,705	)
McKesson Corp.		31		04/22/22	USD	285.00	USD	949		(71,765	)
Medtronic PLC		87		04/22/22	USD	110.00	USD	965		(22,707	)
Moderna, Inc.		52		04/22/22	USD	205.00	USD	896		(12,818	)
Teladoc Health, Inc.		9		04/22/22	USD	74.00	USD	65		(3,263	)
Vertex Pharmaceuticals, Inc.		49		04/22/22	USD	250.00	USD	1,279		(81,830	)
Abbott Laboratories		98		04/29/22	USD	120.00	USD	1,160		(22,638	)
Abbott Laboratories		89		04/29/22	USD	122.00	USD	1,053		(13,350	)
AbbVie, Inc.		376		04/29/22	USD	160.00	USD	6,095		(174,840	)
Bristol-Myers Squibb Co.		117		04/29/22	USD	72.00	USD	854		(25,857	)
Centene Corp.		70		04/29/22	USD	91.00	USD	589		(7,525	)
Exact Sciences Corp.		56		04/29/22	USD	70.00	USD	392		(30,800	)
Gilead Sciences, Inc.		65		04/29/22	USD	60.00	USD	386		(9,165	)
Intuitive Surgical, Inc.		54		04/29/22	USD	295.00	USD	1,629		(84,240	)

S C H E D U L E  O F  I N V E S T M  E N T S 4

Schedule of Investments  (unaudited) (continued) March 31, 2022 BlackRock Health Sciences Trust (BME)

Exchange-Traded Options Written (continued)

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
Medtronic PLC		22		04/29/22	USD	110.00	USD	244	$	(6,721	)
Merck & Co., Inc.		200		04/29/22	USD	80.00	USD	1,641		(63,000	)
Moderna, Inc.		53		04/29/22	USD	205.00	USD	913		(18,815	)
Pfizer, Inc.		511		04/29/22	USD	56.00	USD	2,645		(16,096	)
Sarepta Therapeutics, Inc.		10		04/29/22	USD	86.00	USD	78		(2,100	)
Tandem Diabetes Care, Inc.		13		04/29/22	USD	115.00	USD	151		(9,555	)
Teladoc Health, Inc.		62		04/29/22	USD	60.00	USD	447		(87,885	)
UnitedHealth Group, Inc.		17		04/29/22	USD	495.00	USD	867		(41,140	)
Abbott Laboratories		103		05/06/22	USD	124.00	USD	1,219		(13,442	)
AmerisourceBergen Corp.		17		05/06/22	USD	160.00	USD	263		(4,718	)
Bristol-Myers Squibb Co.		267		05/06/22	USD	73.00	USD	1,950		(47,392	)
Johnson & Johnson		294		05/06/22	USD	180.00	USD	5,211		(67,326	)
Pfizer, Inc.		283		05/06/22	USD	53.00	USD	1,465		(39,620	)
10X Genomics, Inc., Class A		16		05/20/22	USD	90.00	USD	122		(8,880	)
AbbVie, Inc.		78		05/20/22	USD	150.00	USD	1,264		(100,620	)
ABIOMED, Inc.		29		05/20/22	USD	330.00	USD	961		(65,685	)
Agilent Technologies, Inc.		81		05/20/22	USD	140.00	USD	1,072		(19,642	)
Agilon Health, Inc.		81		05/20/22	USD	25.00	USD	205		(21,465	)
Alcon, Inc.		68		05/20/22	USD	82.50	USD	539		(13,090	)
Alnylam Pharmaceuticals, Inc.		26		05/20/22	USD	180.00	USD	425		(13,780	)
Amedisys, Inc.		75		05/20/22	USD	170.00	USD	1,292		(94,125	)
AmerisourceBergen Corp.		6		05/20/22	USD	155.00	USD	93		(3,570	)
Amgen, Inc.		54		05/20/22	USD	245.00	USD	1,306		(32,535	)
Arcutis Biotherapeutics, Inc.		54		05/20/22	USD	20.00	USD	104		(9,045	)
Argenx SE		5		05/20/22	USD	340.00	USD	158		(5,250	)
Avantor, Inc.		197		05/20/22	USD	37.50	USD	666		(7,880	)
BioMarin Pharmaceutical, Inc.		1		05/20/22	USD	85.00	USD	8		(233	)
Blueprint Medicines Corp.		8		05/20/22	USD	70.00	USD	51		(3,320	)
Boston Scientific Corp.		86		05/20/22	USD	45.00	USD	381		(12,427	)
Cerevel Therapeutics Holdings, Inc.		31		05/20/22	USD	35.00	USD	109		(12,865	)
Cooper Cos., Inc.		13		05/20/22	USD	440.00	USD	543		(7,540	)
Danaher Corp.		51		05/20/22	USD	300.00	USD	1,496		(38,760	)
DexCom, Inc.		18		05/20/22	USD	510.00	USD	921		(67,500	)
Eli Lilly & Co.		209		05/20/22	USD	270.00	USD	5,985		(463,457	)
Enanta Pharmaceuticals, Inc.		6		05/20/22	USD	75.00	USD	43		(4,290	)
Encompass Health Corp.		80		05/20/22	USD	71.26	USD	569		(25,326	)
Guardant Health, Inc.		22		05/20/22	USD	60.00	USD	146		(24,310	)
Henry Schein, Inc.		160		05/20/22	USD	90.00	USD	1,395		(38,400	)
Horizon Therapeutics PLC		75		05/20/22	USD	105.00	USD	789		(46,875	)
Icon PLC		50		05/20/22	USD	260.00	USD	1,216		(31,750	)
Incyte Corp.		54		05/20/22	USD	80.00	USD	429		(22,140	)
Insulet Corp.		11		05/20/22	USD	270.00	USD	293		(17,160	)
IQVIA Holdings, Inc.		44		05/20/22	USD	240.00	USD	1,017		(27,280	)
Krystal Biotech, Inc.		21		05/20/22	USD	80.00	USD	140		(3,308	)
LHC Group, Inc.		38		05/20/22	USD	155.00	USD	641		(53,010	)
McKesson Corp.		19		05/20/22	USD	300.00	USD	582		(29,925	)
Medtronic PLC		108		05/20/22	USD	110.00	USD	1,198		(42,390	)
Merck & Co., Inc.		336		05/20/22	USD	82.50	USD	2,757		(76,944	)
Mirati Therapeutics, Inc.		16		05/20/22	USD	105.00	USD	132		(2,080	)
Neurocrine Biosciences, Inc.		86		05/20/22	USD	95.00	USD	806		(46,440	)
Nevro Corp.		60		05/20/22	USD	75.00	USD	434		(29,100	)
Pfizer, Inc.		310		05/20/22	USD	57.50	USD	1,605		(15,500	)
Prothena Corp. PLC		40		05/20/22	USD	40.00	USD	146		(9,600	)
Qiagen NV		17		05/20/22	USD	55.00	USD	83		(1,445	)
Quest Diagnostics, Inc.		63		05/20/22	USD	145.00	USD	862		(10,395	)
Quest Diagnostics, Inc.		29		05/20/22	USD	150.00	USD	397		(2,103	)
Regeneron Pharmaceuticals, Inc.		22		05/20/22	USD	690.00	USD	1,537		(73,040	)
ResMed, Inc.		35		05/20/22	USD	270.00	USD	849		(9,100	)
Revolution Medicines, Inc.		25		05/20/22	USD	20.00	USD	64		(17,000	)
Sanofi, ADR		97		05/20/22	USD	51.00	USD	498		(11,753	)
Sarepta Therapeutics, Inc.		17		05/20/22	USD	85.00	USD	133		(6,970	)
Seagen, Inc.		142		05/20/22	USD	145.00	USD	2,046		(139,160	)

5

Schedule of Investments  (unaudited) (continued) March 31, 2022 BlackRock Health Sciences Trust (BME)

Exchange-Traded Options Written (continued)

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call (continued)
Sierra Oncology, Inc.		20		05/20/22	USD	40.00	USD	64	$	(3,300	)
Tandem Diabetes Care, Inc.		14		05/20/22	USD	125.00	USD	163		(7,070	)
Teleflex, Inc.		23		05/20/22	USD	370.00	USD	816		(23,690	)
UnitedHealth Group, Inc.		66		05/20/22	USD	510.00	USD	3,366		(130,350	)
West Pharmaceutical Services, Inc.		5		05/20/22	USD	420.00	USD	205		(8,225	)
Zimmer Biomet Holdings, Inc.		66		05/20/22	USD	125.00	USD	844		(48,180	)
PTC Therapeutics, Inc.		18		06/17/22	USD	40.00	USD	67		(4,410	)
Quest Diagnostics, Inc.		29		06/17/22	USD	150.25	USD	397		(4,129	)
Sanofi, ADR		55		06/17/22	USD	55.00	USD	282		(3,300	)
Zimmer Biomet Holdings, Inc.		7		06/17/22	USD	130.00	USD	90		(4,095	)
									$	(6,862,867	)

OTC Options Written

Description	Counterparty	Number of Contracts		Expiration Date		Exercise Price			Notional Amount (000)			Value
Call
Genmab A/S	Barclays Bank PLC		5,000		04/01/22		USD	33.75		USD	181	$	(12,223	)
Sanofi	UBS AG		8,000		04/01/22		EUR	94.03		EUR	740		(768	)
Daiichi Sankyo Co. Ltd.	JPMorgan Chase Bank N.A.		10,400		04/06/22		JPY	2,522.92		JPY	27,872		(12,323	)
Sanofi	UBS AG		6,800		04/06/22		EUR	95.71		EUR	629		(882	)
Encompass Health Corp.	JPMorgan Chase Bank N.A.		7,200		04/08/22		USD	66.70		USD	512		(34,216	)
Hansoh Pharmaceutical Group Ltd.	JPMorgan Chase Bank N.A.		114,000		04/12/22		HKD	17.95		HKD	1,496		(10	)
Astrazeneca PLC	Goldman Sachs International		21,900		04/19/22		GBP	95.01		GBP	2,219		(182,929	)
Sanofi	Goldman Sachs International		7,100		04/19/22		EUR	93.81		EUR	657		(9,793	)
Stryker Corp.	Goldman Sachs International		13,000		04/26/22		USD	256.48		USD	3,476		(183,960	)
Daiichi Sankyo Co. Ltd.	BNP Paribas S.A.		6,800		04/27/22		JPY	2,535.23		JPY	18,224		(9,769	)
Zoetis, Inc.	Citibank N.A.		10,600		04/28/22		USD	194.11		USD	1,999		(27,519	)
Alcon, Inc.	BNP Paribas S.A.		6,900		05/02/22		USD	77.16		USD	547		(28,639	)
AstraZeneca PLC	Credit Suisse International		4,600		05/04/22		GBP	101.19		GBP	466		(18,555	)
Hansoh Pharmaceutical Group Ltd.	JPMorgan Chase Bank N.A.		158,000		05/04/22		HKD	16.74		HKD	2,073		(1,952	)
Roche Holding AG	Royal Bank of Canada		1,000		05/04/22		CHF	374.03		CHF	366		(5,128	)
Hansoh Pharmaceutical Group Ltd.	JPMorgan Chase Bank N.A.		64,000		05/11/22		HKD	17.84		HKD	840		(509	)
Daiichi Sankyo Co. Ltd.	JPMorgan Chase Bank N.A.		22,600		05/13/22		JPY	2,895.92		JPY	60,568		(4,783	)
Roche Holding AG	Goldman Sachs International		1,100		05/13/22		CHF	383.93		CHF	403		(3,536	)
Genmab A/S	Morgan Stanley & Co. International PLC		1,400		05/16/22		DKK	2,528.40		DKK	3,451		(13,208	)
												$	(550,702	)

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 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

S C H E D U L E  O F  I N V E S T M  E N T S 6

Schedule of Investments  (unaudited) (continued) March 31, 2022 BlackRock Health Sciences Trust (BME)

Fair Value Hierarchy as of Period End (continued)

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 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
Common Stocks
Biotechnology	$	106,223,479		$	1,599,633		$	—	$	107,823,112
Diversified Financial Services		1,573,558			—			—		1,573,558
Health Care Equipment & Supplies		118,265,529			—			—		118,265,529
Health Care Providers & Services		140,224,846			192,240			—		140,417,086
Health Care Technology		2,417,391			—			—		2,417,391
Life Sciences Tools & Services		63,548,991			—			—		63,548,991
Pharmaceuticals		109,534,641			21,859,836			—		131,394,477
Other Interests		—			—			157,833		157,833
Preferred Securities
Preferred Stocks		—			—			5,257,167		5,257,167
Warrants		20,885			—			—		20,885
Short-Term Securities
Money Market Funds		28,660,206			—			—		28,660,206
	$	570,469,526		$	23,651,709		$	5,415,000		599,536,235
Investments Valued at NAV(a)										125,040
									$	599,661,275
Derivative Financial Instruments(b)
Liabilities
Equity Contracts	$	(6,691,965	)	$	(721,604	)	$	—	$	(7,413,569	)

^(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.

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

7