Blackrock Multi State Municipal Series Trust NPORT-P BlackRock New York Municipal Opportunities Fund (Sep 2020 report)

Schedule of Investments  (unaudited) September 30, 2020 BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Corporate Bonds
Corporate — 0.0%
American Museum of Natural History, 4.37%, 07/15/45	$	1,000	$	1,042,730
Education — 0.2%
Rensselaer Polytechnic Institute, 5.25%, 09/01/48		2,100		2,673,511
Health — 0.2%
Northwell Healthcare, Inc., 4.26%, 11/01/47		2,500		2,869,957
Housing — 0.4%
Community Preservation Corp., 2.87%, 02/01/30		5,856		6,271,934
Total Corporate Bonds — 0.8% (Cost: $11,859,313)				12,858,132
Municipal Bonds
Connecticut — 0.2%
State — 0.2%
Mashantucket Western Pequot Tribe, 7.35%, 07/01/26		17,378		2,867,413
Illinois — 0.9%
County/City/Special District/School District — 0.9%
Chicago Board of Education, GO, 6.32%, 11/01/29		1,645		1,753,373
Chicago Board of Education, GO, BAB
6.04%, 12/01/29		3,425		3,603,922
6.14%, 12/01/39		6,150		6,198,093
6.52%, 12/01/40		3,600		3,675,348
Total Municipal Bonds in Illinois				15,230,736
New York — 78.6%
Corporate — 2.1%
Build NYC Resource Corp., Refunding RB, AMT, 4.50%, 01/01/25(a)		455		476,021
New York City Industrial Development Agency, Refunding RB
Series A, AMT, 5.00%, 07/01/22		1,350		1,443,096
Series A, AMT, 5.00%, 07/01/28		1,520		1,621,886
New York Liberty Development Corp., RB, 5.50%, 10/01/37		780		1,120,415
New York Liberty Development Corp., Refunding RB, 5.25%, 10/01/35		9,365		12,932,597
New York State Environmental Facilities Corp., RB, 2.75%, 09/01/50(b)		2,155		2,161,530
New York Transportation Development Corp., RB
AMT, 5.00%, 01/01/33		1,000		1,051,690
AMT, 5.00%, 10/01/35		1,025		1,096,853
AMT, 5.00%, 10/01/40		2,895		3,076,024
AMT, 4.38%, 10/01/45		290		290,258
Niagara Area Development Corp., Refunding RB(a)
Series B, 3.50%, 11/01/24.		1,000		969,240
Series A, AMT, 4.75%, 11/01/42		7,550		7,646,564
				33,886,174
County/City/Special District/School District — 18.5%
Battery Park City Authority, Refunding RB
Series B, 5.00%, 11/01/39.		6,600		8,565,810
Series B, 5.00%, 11/01/40.		8,500		10,994,750
City of New York, GO
5.00%, 04/01/29		750		800,550
Series A-1, 5.00%, 08/01/21(c)		400		416,116

Security	Par (000)		Value
County/City/Special District/School District (continued)
City of New York, GO (continued)
Series B-1, 5.00%, 12/01/37	$	4,765	$	5,643,952
Series B-1, 5.00%, 10/01/39		8,045		9,558,586
Series D, 5.00%, 12/01/42		2,500		3,004,925
Series E-1, 5.00%, 03/01/41		2,695		3,218,369
Series E-1, 5.00%, 03/01/44		2,140		2,526,356
Sub-Series A-1, 5.00%, 08/01/33		700		782,880
Sub-Series D-1, 5.00%, 08/01/31		690		773,966
Sub-Series F-1, 5.00%, 04/01/39		3,000		3,603,840
City of New York, Refunding GO
Series C, 5.00%, 08/01/34		500		579,680
Series E, 5.00%, 08/01/30		1,250		1,378,488
City of Syracuse New York, GO, Series A, AMT,
(AGM), 4.75%, 11/01/31		500		517,570
County of Nassau New York, GO
Series B, (AGM), 5.00%, 07/01/37		1,145		1,410,617
Series B, (AGM), 5.00%, 07/01/45		4,960		6,006,610
Series C, 5.00%, 10/01/29		500		617,675
County of Nassau New York, Refunding GO, Series B, 5.00%, 04/01/35		3,600		4,332,168
Hudson Yards Infrastructure Corp., RB 5.75%, 02/15/21(c)		675		688,878
5.75%, 02/15/47		4,110		4,182,377
Hudson Yards Infrastructure Corp., Refunding RB
Series A, 5.00%, 02/15/35.		5,000		5,936,500
Series A, 5.00%, 02/15/36.		2,000		2,367,160
Series A, 5.00%, 02/15/39.		2,500		2,934,650
Series A, 5.00%, 02/15/42.		27,495		32,090,239
Monroe County Industrial Development Corp., RB 5.00%, 05/01/33		2,885		3,602,932
5.00%, 05/01/34		2,375		2,948,847
New York City Industrial Development Agency, RB
(AMBAC), 5.00%, 01/01/31		1,000		1,002,210
(AMBAC), 5.00%, 01/01/39		1,850		1,850,870
(AGC), 6.38%, 01/01/39		1,455		1,461,198
(AGC), 0.00%, 03/01/42(d)		5,000		2,587,500
(AGC), 0.00%, 03/01/45(d)		1,500		683,430
(AMBAC), 5.00%, 01/01/46		790		790,798
(AGC), 6.50%, 01/01/46		700		702,870
(NPFGC), 4.75%, 03/01/46.		250		250,203
(FGIC), 5.00%, 03/01/46		1,000		1,001,070
New York City Transitional Finance Authority Future
Tax Secured Revenue, RB 5.25%, 08/01/37		10,000		12,511,200
5.51%, 08/01/37		3,000		4,114,170
Series A-1, 5.00%, 11/01/38		1,000		1,117,670
Series A-2, 5.00%, 08/01/38.		490		592,601
Series A-E1, 5.00%, 02/01/36		3,500		4,225,025
Series E-1, 5.00%, 02/01/39		1,500		1,768,140
Series E-1, 5.00%, 02/01/41		3,000		3,444,630
Sub-Series A-1, 5.00%, 08/01/40		13,360		16,246,695
Sub-Series B-1, 5.00%, 11/01/36		680		775,343
Sub-Series B-1, 5.00%, 11/01/38		5,000		5,860,850
Sub-Series B-1, 4.00%, 11/01/45		10,000		11,308,300
Sub-Series E-1, 5.00%, 02/01/42		650		683,332
Series A-3, Subordinate, 4.00%, 05/01/43		10,000		11,356,900
Series C-3, Subordinate, 5.00%, 05/01/41		7,100		8,579,711
New York Convention Center Development Corp., RB,
Series B, Sub-Lien, (AGM), 0.00%, 11/15/55(d)		5,000		1,502,950

SCHEDULEOF INVESTMENTS 1

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets)

Security	Par (000)		Value
County/City/Special District/School District (continued)
New York Convention Center Development Corp., Refunding RB
5.00%, 11/15/35	$	3,500	$	3,928,050
5.00%, 11/15/40		7,690		8,572,735
5.00%, 11/15/45		8,490		9,358,527
New York Liberty Development Corp., Refunding RB
5.00%, 11/15/31		1,860		1,942,249
5.00%, 11/15/44		1,500		1,561,470
5.75%, 11/15/51		1,250		1,313,463
2.45%, 09/15/69		10,000		10,050,000
2.63%, 09/15/69		10,000		10,050,400
2.80%, 09/15/69		12,500		12,017,625
Class 1, 4.00%, 09/15/35		425		446,365
Class 1, 5.00%, 11/15/44(a)		12,015		12,325,347
Class 2, 5.38%, 11/15/40(a)		400		418,568
Class 2, 5.00%, 09/15/43		3,085		3,247,394
Class 3, 5.00%, 03/15/44		1,720		1,808,735
New York State Dormitory Authority, RB, 5.00%, 07/01/26		1,015		1,050,576
				291,993,661
Education — 7.9%
Amherst Development Corp. Refunding RB
5.00%, 10/01/48		975		1,058,479
Series A, (AGM), 4.63%, 10/01/20(c)		305		305,000
Buffalo & Erie County Industrial Land Development Corp. Refunding RB
5.38%, 04/01/21(c)		620		636,132
Series A, 5.00%, 06/01/35.		600		650,532
Buffalo & Erie County Industrial Land Development Corp., Refunding RB
6.00%, 04/01/21(c)		1,000		1,029,130
Series A, 4.50%, 06/01/27.		1,000		1,088,360
Build NYC Resource Corp. RB (a)
5.75%, 02/01/49		1,000		1,006,130
Series A, 5.50%, 05/01/48.		2,025		2,131,879
Build NYC Resource Corp. Refunding RB
5.00%, 08/01/47		1,860		2,113,816
5.00%, 11/01/47		2,900		4,825,919
Series A, 5.00%, 06/01/43.		325		369,730
Build NYC Resource Corp., RB (a)
5.00%, 02/01/33		880		880,607
5.63%, 02/01/39		1,285		1,304,905
Series A, 4.88%, 05/01/31.		750		820,155
Series A, 5.13%, 05/01/38.		140		148,554
Build NYC Resource Corp., Refunding RB
5.00%, 06/01/30		385		440,552
5.00%, 08/01/33		275		317,630
5.00%, 06/01/35		250		286,323
5.00%, 08/01/35		1,000		1,146,810
County of Cattaraugus New York, RB
5.00%, 05/01/34		130		139,694
5.00%, 05/01/39		165		174,799
Dobbs Ferry Local Development Corp. RB
5.00%, 07/01/39		1,000		1,133,030
5.00%, 07/01/44		2,000		2,247,940
Dutchess County Local Development Corp. RB
5.00%, 07/01/43		900		1,063,413
5.00%, 07/01/48		1,355		1,601,095

Security	Par (000)		Value
Education (continued)
Dutchess County Local Development Corp. Refunding RB, 5.00%, 07/01/42.	$	1,980	$	2,354,418
Hempstead Town Local Development Corp., Refunding RB
5.00%, 10/01/34		465		522,958
5.00%, 10/01/35		265		296,204
5.00%, 07/01/47		2,065		2,425,755
Monroe County Industrial Development Corp., Refunding RB
Series A, 5.00%, 07/01/23(c)		1,240		1,404,350
Series A, 5.00%, 07/01/32.		300		370,530
Series A, 5.00%, 07/01/33.		350		430,454
Series A, 5.00%, 07/01/34.		350		428,823
Series A, 5.00%, 07/01/35.		800		973,952
Series A, 5.00%, 07/01/36.		1,000		1,214,160
Series A, 5.00%, 07/01/37.		500		605,115
Series A, 4.00%, 07/01/50.		4,000		4,558,800
Series C, 5.05%, 07/01/28		1,000		1,238,360
New York City Trust for Cultural Resources, Refunding RB
Series A, 5.00%, 07/01/32.		500		580,210
Series A, 5.00%, 07/01/37.		885		1,017,874
New York State Dormitory Authority, RB
(AGM), 5.00%, 05/01/21(c)		120		123,384
5.00%, 01/01/42		5,000		5,450,100
Series 1, (BHAC, AMBAC), 5.50%, 07/01/31		230		324,843
Series 1, (AMBAC), 5.50%, 07/01/40		500		760,140
Series A, 5.25%, 07/01/21(c)		500		518,895
Series A, (NPFGC), 5.15%, 07/01/24		250		279,508
Series A, 4.13%, 01/01/30.		1,600		1,690,032
Series A, 5.00%, 07/01/33.		1,000		1,243,500
Series A, 5.00%, 07/01/43.		8,065		9,638,240
Series A, 5.50%, 01/01/44.		2,000		2,132,020
Series A, 4.00%, 07/01/44.		2,060		2,377,982
New York State Dormitory Authority, Refunding RB
5.00%, 07/01/28		500		522,530
5.00%, 07/01/29		375		433,155
5.00%, 07/01/30		300		345,912
5.00%, 07/01/42		300		307,887
5.00%, 07/01/44		850		956,080
Series A, 5.00%, 07/01/22(c)		1,895		2,055,032
Series A, 5.25%, 07/01/23(c)		5,240		5,969,629
Series A, 5.00%, 07/01/24(c)		1,000		1,123,970
Series A, 5.00%, 05/01/27.		980		1,052,089
Series A, 5.25%, 07/01/29.		135		139,575
Series A, 5.00%, 07/01/33.		470		552,024
Series A, 5.00%, 07/01/36.		1,850		2,224,680
Series A, 5.00%, 07/01/37.		350		392,973
Series A, 5.00%, 07/01/38.		1,295		1,545,039
Series A, 5.00%, 07/01/41.		500		583,385
Series A, 5.00%, 07/01/42.		2,000		2,348,500
Series A, 5.00%, 07/01/43.		1,000		1,144,920
Series B, 3.67%, 07/01/27		1,250		1,319,875
Series B, 3.76%, 07/01/28		1,000		1,056,890
Series B, 5.00%, 10/01/38		10,000		12,351,400
Series C, 4.00%, 07/01/49		7,250		8,417,032
Orange County Funding Corp., Refunding RB
Series A, 5.00%, 07/01/37.		360		378,241
Series A, 5.00%, 07/01/42.		220		230,276

2

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Education (continued)
Schenectady County Capital Resource Corp., Refunding RB, 5.00%, 07/01/32	$	500	$	535,045
St Lawrence County Industrial Development Agency, RB, 5.38%, 09/01/41.		500		514,540
St Lawrence County Industrial Development Agency, Refunding RB, Series B, 4.43%, 07/01/56		1,500		1,779,960
Troy Capital Resource Corp., Refunding RB 5.00%, 08/01/28		2,690		3,177,347
5.00%, 08/01/32		1,000		1,153,410
4.00%, 08/01/35		1,000		1,066,470
Yonkers Economic Development Corp., RB
Series A, 4.00%, 10/15/29.		200		202,840
Series A, 5.00%, 10/15/39.		580		619,707
Series A, 5.00%, 10/15/49.		460		478,147
Series A, 5.00%, 10/15/54.		200		206,842
				125,066,623
Health — 3.7%
Buffalo & Erie County Industrial Land Development Corp. RB, 5.25%, 07/01/35.		500		573,395
Build NYC Resource Corp., Refunding RB, 5.00%, 07/01/30		1,100		1,263,361
Dutchess County Industrial Development Agency, RB,
(AGC), 5.00%, 10/01/20(c)		215		215,000
Dutchess County Local Development Corp. RB,
Series B, 4.00%, 07/01/41		9,950		10,616,252
Dutchess County Local Development Corp., RB,
Series A, 5.00%, 07/01/24(c)		750		884,047
Genesee County Industrial Development Agency, Refunding RB
5.00%, 12/01/27		360		361,451
5.00%, 12/01/32		580		582,262
Monroe County Industrial Development Corp,
Refunding RB, (FHA), 5.50%, 08/15/40		1,050		1,068,469
Monroe County Industrial Development Corp., RB
5.00%, 12/01/29		660		801,794
5.00%, 12/01/46		4,800		5,508,000
New York City Health and Hospitals Corp., Refunding
RB, Series A, 5.00%, 02/15/30		1,000		1,003,990
New York State Dormitory Authority, RB
5.00%, 12/01/40(a)		1,300		1,436,110
5.00%, 12/01/45(a)		1,700		1,858,304	��
Series B-3, 5.00%, 05/01/48(b)		5,000		6,013,450
New York State Dormitory Authority, Refunding RB
5.00%, 12/01/27(a)		100		119,395
5.00%, 07/01/32		365		448,746
5.00%, 07/01/34		320		388,150
5.00%, 07/01/35		350		422,230
5.00%, 07/01/36		275		330,272
4.00%, 07/01/40		325		356,616
5.00%, 07/01/41		450		533,129
4.00%, 07/01/45		810		877,157
Series 1, 5.00%, 07/01/42.		2,200		2,692,668
Series A, 5.00%, 05/01/21(c)		3,000		3,084,510
Series A, 5.00%, 05/01/32.		1,270		1,487,983
Series A, 5.00%, 05/01/43.		1,570		1,772,169
Orange County Industrial Development Agency, RB,
Series G-1, 4.90%, 07/01/21		460		461,693
Southold Local Development Corp., RB, 4.00%, 12/01/45		1,900		1,714,807

Security	Par (000)			Value
Health (continued)
Suffolk County Economic Development Corp., RB,
Series C, 5.00%, 07/01/32	$	305		$	348,984
Tompkins County Development Corp., Refunding RB
4.25%, 07/01/44		1,595			1,595,032
5.00%, 07/01/44		1,145			1,178,205
Westchester County Healthcare Corp, Refunding RB
Series A, Senior Lien, 5.00%, 11/01/21(c)		5,135			5,403,911
Series B, Senior Lien, 6.00%, 11/01/30		85			85,277
Westchester County Local Development Corp., Refunding RB
4.00%, 01/01/23		250			254,185
5.00%, 01/01/28		1,805			1,889,546
5.00%, 01/01/34		875			901,171
5.00%, 11/01/34		500			537,035
					59,068,756
Housing — 7.6%
New York City Housing Development Corp.,
Series 2014-8SPR, Class F, 4.50%, 02/15/48		770			798,960
New York City Housing Development Corp., RB
4.38%, 11/01/33		5,000			5,770,550
4.15%, 11/01/46		2,805			3,038,657
1.75%, 05/01/59(b)		11,000			11,131,890
Series B-1, 5.25%, 07/01/30		500			563,065
Series B-1, 5.25%, 07/01/32		2,020			2,270,500
Series B-1, 5.00%, 07/01/33		400			445,700
Series C-2A, 2.35%, 07/01/22		7,500			7,552,800
Series K, 3.85%, 11/01/38.		4,000			4,359,720
Series K, 4.00%, 11/01/48.		4,000			4,323,720
Series L, 2.75%, 05/01/50(b)		6,500			6,809,465
New York City Housing Development Corp., Refunding RB
Series B-1B, 2.10%, 11/01/58(b)		3,655			3,726,199
Series D, 4.10%, 11/01/38		2,500			2,984,100
New York State Housing Finance Agency, RB
Series B, (SONYMA), 2.35%, 05/01/22		5,000			5,014,650
Series C, (FHLMC, FNMA, GNMA, SONYMA), 2.75%, 11/01/31		1,000			1,038,350
Series D, (SONYMA), 2.05%, 05/01/23		5,250			5,268,848
Series E, (SONYMA), 2.13%, 11/01/23		2,500			2,530,550
Series I, (FNMA, SONYMA), 1.75%, 05/01/24		3,000	��		3,040,980
Series N, (FHLMC, FNMA, SONYMA), 1.45%, 05/01/23.		2,000			2,016,520
Series P, 1.60%, 11/01/24		20,000			20,224,600
Series A, AMT, (SONYMA), 4.90%, 02/15/38		645			646,535
Series A, AMT, (SONYMA), 5.10%, 02/15/38		875			877,424
Series A, AMT, (SONYMA), 5.00%, 02/15/39		1,800			1,804,248
New York State Housing Finance Agency, Refunding
RB, Series C, (FNMA, SONYMA), 3.85%, 11/01/39.		4,425			4,882,412
State of New York Mortgage Agency, RB, S/F
Housing, 49th Series, 3.25%, 10/01/28		5,000			5,258,700
State of New York Mortgage Agency, Refunding RB
218th Series, AMT, 3.25%, 04/01/30		1,380			1,490,510
Series 209, AMT, 3.35%, 04/01/29		4,385			4,764,259
State of New York Mortgage Agency, Refunding RB,
S/F Housing, Series 213, 4.10%, 10/01/38		4,145			4,671,083
Yonkers Industrial Development Corp., RB
AMT, (SONYMA), 5.25%, 04/01/37		585			586,866

SCHEDULEOF INVESTMENTS 3

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Housing (continued)
Yonkers Industrial Development Corp., RB (continued)
Series A, AMT, (SONYMA), 4.80%, 10/01/26	$	490	$	491,617
Series A, AMT, (SONYMA), 5.00%, 10/01/37		1,640		1,644,280
				120,027,758
State — 7.9%
New York City Transitional Finance Authority Building Aid Revenue, RB
Series S, Subordinate, 5.00%, 07/15/40		4,000		4,645,360
Series S-1, Subordinate, 5.00%, 07/15/38		2,250		2,771,865
Series S-1, Subordinate, 5.00%, 07/15/43		6,865		7,988,457
Series S-3, Subordinate, 5.25%, 07/15/36		2,080		2,617,638
Series S-3, Subordinate, 5.00%, 07/15/37		3,015		3,722,078
Series S-3, Subordinate, 5.25%, 07/15/45		5,000		6,166,000
New York City Transitional Finance Authority Building Aid Revenue, Refunding RB
Series S-3, Subordinate, 5.00%, 07/15/37		7,000		8,640,660
Series S-4A, Subordinate, 5.25%, 07/15/35		9,165		11,571,820
New York City Transitional Finance Authority Future Tax Secured Revenue, RB, Series C-4, 0.05%, 11/01/36(b)		1,400		1,400,000
New York State Dormitory Authority, RB
Series A, 5.00%, 02/15/36.		9,000		10,779,210
Series A, 5.00%, 02/15/38.		5,000		5,947,650
Series A, 5.00%, 03/15/39.		1,630		2,001,249
Series A, 5.00%, 03/15/40.		5,000		6,017,550
Series A, 5.00%, 03/15/43.		5,095		6,084,806
Series G, 5.00%, 08/15/32		1,975		2,051,255
New York State Dormitory Authority, Refunding RB
Series A, 5.25%, 03/15/39.		7,250		9,012,475
Series B, 5.00%, 08/15/27(c)		5		6,529
Series B, 5.00%, 02/15/43		3,495		4,216,508
Series E, 5.00%, 03/15/40		5,645		6,976,373
Series E, 5.00%, 03/15/41		3,615		4,453,897
New York State Urban Development Corp., Refunding RB
Series A, 5.00%, 03/15/38.		5,000		6,002,200
Series B, 2.77%, 03/15/31		5,000		5,290,500
Series C-3, 5.00%, 03/15/39		5,000		6,017,700
				124,381,780
Tobacco — 3.1%
Chautauqua Tobacco Asset Securitization Corp.
Refunding RB, 4.75%, 06/01/39		750		753,780
Erie Tobacco Asset Securitization Corp. Refunding
RB, Series A, 5.00%, 06/01/45		4,595		4,595,046
New York Counties Tobacco Trust IV, Refunding RB
Series A, 6.25%, 06/01/41(a)		2,000		2,002,200
Series A, 5.00%, 06/01/42.		3,775		3,789,534
Series A, 5.00%, 06/01/45.		895		894,964
New York Counties Tobacco Trust VI, Refunding RB
Series A-2-B, 5.00%, 06/01/45		6,350		6,436,106
Series A-2-B, 5.00%, 06/01/51		3,615		3,662,212
Series B, 5.00%, 06/01/28		90		109,531
Series B, 5.00%, 06/01/29		105		127,227
Series C, 4.00%, 06/01/51		3,655		3,223,564
Niagara Tobacco Asset Securitization Corp., Refunding RB
5.25%, 05/15/34		2,250		2,339,775
5.25%, 05/15/40		1,080		1,107,929

Security	Par (000)		Value
Tobacco (continued)
TSASC Inc, Refunding RB
Series A, 5.00%, 06/01/30.	$	775	$	911,501
Series A, 5.00%, 06/01/33.		3,000		3,458,640
Series A, 5.00%, 06/01/36.		5,835		6,602,477
Westchester Tobacco Asset Securitization Corp., Refunding RB
Sub-Series C, 4.00%, 06/01/42.		5,725		6,059,626
Sub-Series C, 5.13%, 06/01/51.		2,175		2,365,443
				48,439,555
Transportation — 16.4%
Buffalo & Fort Erie Public Bridge Authority, RB
5.00%, 01/01/42		955		1,122,899
5.00%, 01/01/47		320		371,680
MET Transportation New York Revenue Authority,
5.00%, 11/15/39		4,250		4,375,885
Metropolitan Transportation Authority, RB
Series A, 5.00%, 11/15/21(c)		1,000		1,054,240
Series A, 5.00%, 11/15/35.		2,500		2,941,925
Series A, 5.00%, 11/15/42.		5,000		5,772,600
Series A-1, 5.25%, 11/15/23(c)		1,040		1,204,268
Series B, 5.25%, 11/15/33.		1,000		1,035,230
Series B, 5.25%, 11/15/38.		1,855		1,918,330
Series B, 5.25%, 11/15/39.		5,795		5,994,754
Series B, 5.25%, 11/15/44.		2,125		2,200,076
Series E, 5.00%, 11/15/38.		2,350		2,403,180
Sub-Series A-1, 5.00%, 11/15/40		1,645		1,699,877
Sub-Series B-1, 5.00%, 11/15/21(c)		760		801,222
Metropolitan Transportation Authority, Refunding RB
Series A, 5.25%, 11/15/35.		5,000		5,916,350
Series A, (AGM), 5.00%, 11/15/44		15,000		17,372,400
Series B, 5.00%, 11/15/35.		1,750		1,820,280
Series B, 5.00%, 11/15/37.		1,500		1,574,100
Series B-1, 5.00%, 11/15/36.		13,500		15,724,125
Series D, 5.00%, 11/15/35		2,500		2,622,450
Series F, 5.00%, 11/15/30		1,000		1,022,860
MTA Hudson Rail Yards Trust Obligations, Refunding RB, Series A, 5.00%, 11/15/56		7,985		8,939,128
New York Liberty Development Corp., ARB, 5.00%, 12/15/41		5,000		5,226,750
New York State Thruway Authority, RB
Series A, Junior Lien, 5.00%, 01/01/41		7,440		8,575,716
Series A, Junior Lien, 5.25%, 01/01/56		11,520		13,249,267
New York State Thruway Authority, Refunding RB
Series I, 5.00%, 01/01/22(c)		940		996,776
Series J, 5.00%, 01/01/41		5,750		6,415,332
Series K, 5.00%, 01/01/29		5,000		5,853,250
Series K, 5.00%, 01/01/31		2,500		2,917,475
Series K, 5.00%, 01/01/32		1,500		1,747,725
Series L, 5.00%, 01/01/33.		2,065		2,549,697
Series L, 5.00%, 01/01/34.		910		1,118,290
Series L, 5.00%, 01/01/35.		1,050		1,283,646
Series B, Subordinate, 4.00%, 01/01/38		7,095		8,171,666
Series B, Subordinate, 4.00%, 01/01/39		2,000		2,301,600
Series B, Subordinate, 4.00%, 01/01/41		4,900		5,601,778
New York Transportation Development Corp., ARB
Series A, AMT, 4.00%, 07/01/31		7,100		7,538,567
Series A, AMT, 5.00%, 07/01/34		250		274,875
Series A, AMT, 5.00%, 07/01/41		750		807,788
Series A, AMT, 5.00%, 07/01/46		1,500		1,603,350

4

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Transportation (continued)
New York Transportation Development Corp., ARB (continued)
Series A, AMT, 5.25%, 01/01/50	$	16,975	$	18,290,223
Niagara Falls Bridge Commission, RB, (AGM), 4.16%, 10/01/33		1,650		1,867,091
Niagara Frontier Transportation Authority, Refunding ARB
AMT, 5.00%, 04/01/32		400		487,412
AMT, 5.00%, 04/01/33		375		454,331
AMT, 5.00%, 04/01/34		225		271,114
AMT, 5.00%, 04/01/35		200		239,876
AMT, 5.00%, 04/01/36		210		250,900
AMT, 5.00%, 04/01/37		250		298,023
AMT, 5.00%, 04/01/38		250		297,555
AMT, 5.00%, 04/01/39		175		207,907
Port Authority of New York & New Jersey, ARB
5.50%, 12/01/31		7,025		7,077,617
6.00%, 12/01/42		2,000		2,012,300
214th Series, AMT, 5.00%, 09/01/35		1,945		2,396,143
218th Series, AMT, 4.00%, 11/01/41		8,090		9,098,580
Port Authority of New York & New Jersey, Refunding ARB
178th Series, AMT, 5.00%, 12/01/32		2,000		2,239,060
178th Series, AMT, 5.00%, 12/01/43		285		313,833
193rd Series, AMT, 5.00%, 10/15/34		3,445		3,990,447
195th Series, AMT, 5.00%, 04/01/36		4,430		5,176,101
202nd Series, AMT, 5.00%, 10/15/36		3,000		3,529,830
202nd Series, AMT, 5.00%, 04/15/37		5,000		5,873,800
206th Series, AMT, 5.00%, 11/15/37		1,525		1,804,212
Consolidated, 169th Series, AMT, 5.00%, 10/15/41 .		1,000		1,036,540
Consolidated, 186th Series, AMT, 5.00%, 10/15/44 .		1,000		1,104,500
Series 197, AMT, 5.00%, 11/15/36		3,000		3,505,260
Series 197, AMT, 5.00%, 11/15/41		1,250		1,448,525
Triborough Bridge & Tunnel Authority, RB, Series B-3, 5.00%, 11/15/33		500		592,990
Triborough Bridge & Tunnel Authority, Refunding RB
Series A, 5.00%, 01/01/22(c)		500		530,200
Series A, 5.00%, 11/15/50.		1,000		1,138,410
Series B, 5.00%, 11/15/37.		10,070		12,110,383
Series C, 5.00%, 11/15/37		6,000		7,423,740
				259,188,310
Utilities — 11.4%
City of New York Water & Sewer System, RB,
Series 3, 5.40%, 01/01/21(e)(f)(g)		278		196,802
Long Island Power Authority, RB
5.00%, 09/01/36		1,000		1,231,140
5.00%, 09/01/37		2,000		2,498,680
5.00%, 09/01/38		4,200		5,232,150
5.00%, 09/01/39		8,000		9,939,760
Series A, (AGM), 5.00%, 05/01/21(c)		500		513,970
Series B, 1.65%, 09/01/49(b)		10,000		10,422,400
Series C, (AGC), 5.25%, 09/01/29		3,000		4,041,810
Long Island Power Authority, Refunding RB, Series B, 5.00%, 09/01/46		2,000		2,364,400
New York City Water & Sewer System, RB
Series AA, 4.00%, 06/15/42		5,000		5,866,100
Series DD, 5.25%, 06/15/47		2,455		2,974,061
New York City Water & Sewer System, Refunding RB
4.00%, 06/15/40		5,000		5,932,750
Series BB, 5.00%, 06/15/47		2,000		2,168,540

Security	Par (000)		Value
Utilities (continued)
New York City Water & Sewer System, Refunding RB (continued)
Series BB-2, 0.05%, 06/15/49(b)	$	15,000	$	15,000,000
Series DD-2, 5.00%, 06/15/40		4,850		6,010,508
Series EE, 5.00%, 06/15/37		2,735		3,380,186
Series EE, 5.25%, 06/15/37		1,075		1,348,136
Series EE, 5.00%, 06/15/40		8,355		10,313,579
Series FF, 5.00%, 06/15/40		11,500		14,288,520
Series HH, 5.00%, 06/15/39		1,000		1,180,750
Sub-Series FF-2, Subordinate, 4.00%, 06/15/41		5,000		5,863,600
New York State Energy Research & Development Authority, Refunding RB, Series C, 2.63%, 04/01/34(b)		25,000		25,991,000
New York State Environmental Facilities Corp., Refunding RB
Series A, 5.00%, 06/15/32.		5,000		5,609,750
Series B, 5.00%, 06/15/31		1,000		1,033,240
Series B, 5.00%, 06/15/36		1,000		1,031,820
Subordinate, 5.00%, 06/15/24		1,400		1,646,736
Subordinate, 5.00%, 06/15/25		2,080		2,535,458
Suffolk County Water Authority, Refunding RB,
Series A, 3.75%, 06/01/36.		5,815		6,290,202
Utility Debt Securitization Authority, Refunding RB 5.00%, 12/15/37		5,000		6,047,150
Series TE, Restructured, 5.00%, 12/15/32		1,000		1,144,140
Series TE, Restructured, 5.00%, 12/15/41		15,645		17,741,743
				179,839,081
Total Municipal Bonds in New York				1,241,891,698
Ohio — 0.6%
Tobacco — 0.6%
Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55		9,215		9,767,439
Puerto Rico — 7.9%
County/City/Special District/School District — 0.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, Series A-2, Restructured, 4.33%, 07/01/40		182		185,824
State — 4.9%
Commonwealth of Puerto Rico, GO(e)(f)
Series A, 5.25%, 07/01/22.		440		316,454
Series A, 5.25%, 07/01/26.		150		107,882
Series A, 5.13%, 07/01/31.		1,560		1,121,972
Series A, 5.38%, 07/01/33.		475		341,626
Series A, 6.00%, 07/01/38.		1,885		1,371,156
Series B, 5.25%, 07/01/17		205		139,771
Commonwealth of Puerto Rico, Refunding GO(e)(f)
Series A, 5.50%, 07/01/18.		330		224,997
Series A, 5.50%, 07/01/32.		545		391,971
Series A, 6.00%, 07/01/34.		445		323,695
Series A, 8.00%, 07/01/35.		13,150		8,293,508
Series A, 5.50%, 07/01/39.		4,190		2,757,544
Series A, 5.00%, 07/01/41.		6,765		4,292,419
Series A, 5.75%, 07/01/41.		520		355,810
Series B, 6.00%, 07/01/39		750		545,553
Series C, 6.00%, 07/01/39		220		160,029
Puerto Rico Public Buildings Authority, Refunding RB(e)(f)
Series F, (GTD), 5.25%, 07/01/24		260		207,350

SCHEDULEOF INVESTMENTS 5

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets)

Security	Par (000)		Value
State (continued)
Puerto Rico Public Buildings Authority, Refunding RB(e)(f) (continued) Series M-2, (GTD), 10.00%, 07/01/34	$	490	$	411,600
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB
Series A-1, Restructured, 0.00%, 07/01/29(d)		490		384,204
Series A-1, Restructured, 0.00%, 07/01/31(d)		582		424,749
Series A-1, Restructured, 0.00%, 07/01/33(d)		841		561,216
Series A-1, Restructured, 0.00%, 07/01/46(d)		52,477		14,815,307
Series A-1, Restructured, 0.00%, 07/01/51(d)		2,919		595,447
Series A-1, Restructured, 4.75%, 07/01/53		12,721		13,238,490
Series A-1, Restructured, 5.00%, 07/01/58		4,635		4,897,202
Series A-2, Restructured, 4.33%, 07/01/40		10,872		11,100,421
Series A-2, Restructured, 4.54%, 07/01/53		49		50,334
Series A-2, Restructured, 4.78%, 07/01/58		9,107		9,485,578
Series B-1, Restructured, 0.00%, 07/01/46(d)		2,677		754,191
				77,670,476
Tobacco — 0.1%
Children’s Trust Fund, RB, Series B, 0.00%, 05/15/57(d)		49,700		1,964,144
Utilities — 2.9%
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Refunding RB
Series B, Senior Lien, 5.00%, 07/01/23		1,425		1,412,973
Series B, Senior Lien, 5.35%, 07/01/27		2,985		2,857,033
Series B, Senior Lien, 6.15%, 07/01/38		1,655		1,596,893
Puerto Rico Electric Power Authority, RB
Series A, 5.00%, 07/01/29(e)(f)		1,860		1,319,092
Series A, 7.00%, 07/01/33(e)(f)		1,025		753,215
Series A, 6.75%, 07/01/36(e)(f)		3,560		2,616,045
Series A, 5.00%, 07/01/42(e)(f)		3,150		2,233,945
Series A, 7.00%, 07/01/43(e)(f)		410		301,286
Series A-3, 10.00%, 07/01/19(e)(f)		999		739,299
Series B-3, 10.00%, 07/01/19(e)(f)		999		739,298
Series C-1, 5.40%, 01/01/18(e)(f)		2,745		1,946,610
Series C-2, 5.40%, 07/01/18(e)(f)		2,745		1,946,925
Series C-4, 5.40%, 07/01/20(e)(f)		278		196,802
Series CCC, 5.25%, 07/01/26(e)(f)		770		546,076
Series CCC, 5.25%, 07/01/28(e)(f)		440		312,043
Series D-4, 7.50%, 07/01/20(e)(f)		762		559,951
Series TT, 5.00%, 07/01/25(e)(f)		210		148,930
Series TT, 5.00%, 07/01/26(e)(f)		565		400,692
Series TT, 5.00%, 07/01/32(e)(f)		470		333,319
Series WW, 5.50%, 07/01/19(e)(f)		1,145		812,021
Series WW, 5.38%, 07/01/22(e)(f)		605		429,059
Series WW, 5.38%, 07/01/24(e)(f)		385		273,038
Series WW, 5.25%, 07/01/33(e)(f)		420		297,859
Series WW, 5.50%, 07/01/38(e)(f)		520		368,778
Series WW, 5.50%, 07/01/49(e)(f)		435		308,497
Series XX, 5.25%, 07/01/27(e)(f)		285		202,119
Series XX, 5.25%, 07/01/35(e)(f)		185		131,200
Series XX, 5.75%, 07/01/36(e)(f)		260		184,389
Series XX, 5.25%, 07/01/40(e)(f)		5,345		3,790,615
Puerto Rico Electric Power Authority, Refunding RB
Series AAA, 5.25%, 07/01/22(e)(f)		990		702,097
Series AAA, 5.25%, 07/01/23(e)(f)		2,670		1,893,535
Series AAA, 5.25%, 07/01/24(e)(f)		225		159,568
Series AAA, 5.25%, 07/01/28(e)(f)		5,655		4,010,464
Series AAA, 5.25%, 07/01/29(e)(f)		235		166,659

Security	Par (000)		Value
Utilities (continued)
Puerto Rico Electric Power Authority, Refunding RB (continued)
Series BBB, 5.40%, 07/01/28(e)(f)	$	1,240	$	879,394
Series UU, 1.00%, 07/01/19(b)(e)(f)		165		107,250
Series UU, 1.16%, 07/01/19(b)(e)(f)		185		120,250
Series UU, 1.00%, 07/01/20(b)(e)(f)		1,475		955,063
Series UU, 0.85%, 07/01/31(e)(f)(g)		1,755		1,136,363
Series ZZ, 5.25%, 07/01/19(e)(f)		1,370		971,589
Series ZZ, 5.00%, 07/01/20(e)(f)		2,220		1,574,400
Series ZZ, 5.25%, 07/01/21(e)(f)		3,420		2,425,426
Series ZZ, 5.25%, 07/01/24(e)(f)		875		620,540
Series ZZ, 5.25%, 07/01/26(e)(f)		110		78,011
Series ZZ, 5.00%, 07/01/28(e)(f)		435		308,497
Series ZZ, 5.00%, 07/01/49(e)(f)		430		304,951
Puerto Rico Electric Power Authority, Refunding RB, BAB, Series YY, 6.13%, 07/01/40(e)(f)		1,860		1,319,092
				45,491,151
Total Municipal Bonds in Puerto Rico				125,311,595
Total Municipal Bonds — 88.2% (Cost: $1,321,915,524)				1,395,068,881
Municipal Bonds Transferred to Tender Option Bond Trusts(h)
New York — 11.8%
County/City/Special District/School District — 2.0%
City of New York, GO
Sub-Series 1-I, 5.00%, 03/01/32		990		1,132,674
Sub-Series F-1, 5.00%, 04/01/39		10,000		12,012,797
Sub-Series I-1, 5.00%, 03/01/36		1,500		1,701,045
Hudson Yards Infrastructure Corp., RB (i)
5.75%, 02/15/21(c)		1,393		1,419,969
5.75%, 02/15/47		857		873,522
New York City Transitional Finance Authority Future Tax Secured Revenue, RB
Sub-Series B-1, 5.00%, 08/01/36		3,001		3,591,723
Sub-Series D-1, 5.00%, 11/01/38		1,650		1,722,930
Sub-Series F-1, 5.00%, 05/01/38		3,448		4,150,562
New York Convention Center Development Corp., Refunding RB, 5.00%, 11/15/32		3,540		4,009,616
				30,614,838
State — 4.6%
New York State Dormitory Authority, RB
Series A, 5.00%, 03/15/32.		5,000		6,311,550
Series A, 5.00%, 02/15/34.		10,000		12,073,697
Series A, 5.00%, 03/15/39.		15,393		18,607,162
Series C, 5.00%, 03/15/41		1,000		1,018,470
New York State Dormitory Authority, Refunding RB
Series A, 5.00%, 03/15/36(i)		1,995		2,392,045
Series C, 5.00%, 03/15/39		9,000		11,049,840
New York State Urban Development Corp., RB,
Series A-1, 5.00%, 03/15/32.		1,499		1,656,706
New York State Urban Development Corp., Refunding RB
Series A, 4.00%, 03/15/37.		8,740		9,700,876
Series A, 5.00%, 03/15/45.		6,004		6,948,798

6

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock New York Municipal Opportunities Fund (Percentages shown are based on Net Assets)

Security	Par (000)		Value
State (continued)
Sales Tax Asset Receivable Corp., Refunding RB
Series A, 5.00%, 10/15/31.	$	990	$	1,165,695
Series A, 4.00%, 10/15/32.		1,440		1,623,773
				72,548,612
Transportation — 3.0%
Metropolitan Transportation Authority, Refunding RB, Series B-1, 5.00%, 11/15/51.
		10,000		11,328,998
New York Liberty Development Corp., ARB, 5.25%, 12/15/43		6,495		6,800,204
New York State Thruway Authority, Refunding RB, Series A, 5.00%, 03/15/31.
		1,560		1,626,690
Port Authority of New York & New Jersey, Refunding
ARB 178th Series, AMT, 5.00%, 12/01/32		991		1,109,444
194th Series, 5.25%, 10/15/55		1,950		2,258,763
Consolidated, 169th Series, 5.00%, 10/15/26		2,250		2,350,643
Triborough Bridge & Tunnel Authority, Refunding RB
Series A, 5.00%, 11/15/41.		10,000		11,687,200
Series B, 5.00%, 11/15/38.		9,000		10,786,680
				47,948,622
Utilities — 2.2%
New York City Water & Sewer System, Refunding RB 5.00%, 06/15/38(i)		7,504		9,259,534
Series BB, 5.00%, 06/15/44		3,751		3,931,359
Series HH, 5.00%, 06/15/32		4,350		4,490,940
Utility Debt Securitization Authority, Refunding RB 5.00%, 12/15/41		7,800		9,685,572
Series A, 5.00%, 12/15/34.		5,000		6,140,250
Series B, 4.00%, 12/15/35		1,300		1,501,929
				35,009,584
Total Municipal Bonds in New York				186,121,656
Total Municipal Bonds Transferred to Tender Option Bond
Trusts — 11.8%
(Cost: $173,769,015)				186,121,656
Total Long-Term Investments — 100.8%
(Cost: $1,507,543,852)				1,594,048,669

Security	Shares		Value
Short-Term Securities
Money Market Funds — 3.5%
BlackRock Liquidity Funds New York Money Fund Portfolio, 0.01%(j)(k)		55,225,894	$	55,225,894
Total Short-Term Securities — 3.5% (Cost: $55,222,385)			55,225,894
Total Investments — 104.3% (Cost: $1,562,766,237)				1,649,274,563
Other Assets Less Liabilities — 1.7%				25,837,925
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (6.0)%				(94,416,014	)
Net Assets — 100.0%			$	1,580,696,474

(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) Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end.

(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) Zero-coupon bond.

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

(f) Non-income producing security.

(g) Variable rate security. Rate shown is the rate in effect as of period end.

(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) All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between September 15, 2024 to February 15, 2047, is $6,520,542.

(j) Affiliate of the Fund.

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

Affiliates

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

Affiliated Issuer	Value at 06/30/20		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 09/30/20		Shares Held at 09/30/20		Income		Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds New York Money Fund Portfolio	$	72,755,940	$	—	$	(17,532,491	)(a)	$	2,445	$	—	$	55,225,894		55,225,894	$	1,868	$	—

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

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 7

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock New York Municipal Opportunities Fund

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.		3,132		12/21/20	$	437,012	$	(1,222,175	)
Long U.S. Treasury Bond		1,142		12/21/20		201,313		(41,402	)
							$	(1,263,577	)

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)

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

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

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

	Level 1			Level 2		Level 3		Total
Assets
Investments
Long-Term Investments
Corporate Bonds	$	—		$	12,858,132	$	—	$	12,858,132
Municipal Bonds		—			1,395,068,881		—		1,395,068,881
Municipal Bonds Transferred to Tender Option Bond Trusts		—			186,121,656		—		186,121,656
Short-Term Securities
Money Market Funds		55,225,894			—		—		55,225,894
	$	55,225,894		$	1,594,048,669	$	—	$	1,649,274,563
Derivative Financial Instruments(a)
Liabilities
Interest Rate Contracts	$	(1,263,577	)	$	—	$	—	$	(1,263,577	)

^(a) 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 statement purposes. As of period end, TOB Trust Certificates of $94,386,206 are categorized as Level 2 within the disclosure hierarchy.

8

Schedule of Investments  (unaudited) (continued) September 30, 2020 BlackRock New York Municipal Opportunities Fund

Portfolio Abbreviation
AGC	Assured Guaranty Corp.
AGM	Assured Guaranty Municipal Corp.
AMBAC	AMBAC Assurance Corp.
AMT	Alternative Minimum Tax
ARB	Airport Revenue Bonds
BAB	Build America Bond
BHAC	Berkshire Hathaway Assurance Corp.
FGIC	Financial Guaranty Insurance Co.
FHA	Federal Housing Administration
FHLMC	Federal Home Loan Mortgage Corp.
FNMA	Federal National Mortgage Association
GNMA	Government National Mortgage Association
GO	General Obligation Bonds
GTD	GTD Guaranteed
NPFGC	National Public Finance Guarantee Corp.
RB	Revenue Bond
S/F	Single-Family
SONYMA	State of New York Mortgage Agency

SCHEDULE OF INVESTMENTS 9