BLACKROCK STRATEGIC MUNICIPAL TRUST
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-09401
Name of Fund:
The BlackRock Strategic Municipal Trust (BSD)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, The BlackRock
Strategic Municipal
Trust, 55 East 52nd Street, New York, NY 10055
Registrants telephone number, including area
code: (800) 882-0052, Option 4
Date of fiscal year end: 04/30/2018
Date of reporting period: 07/31/2017
Item 1 Schedule of Investments
|
|
|
Schedule of Investments July 31, 2017 (Unaudited) |
|
BlackRock Strategic Municipal Trust (BSD)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Alabama 2.5% |
|
County of Jefferson Alabama, RB, Limited Obligation School, Series A, 5.25%, 1/01/19 |
|
$ |
465 |
|
|
$ |
465,809 |
|
County of Jefferson Alabama Sewer, Refunding RB, Sub-Lien, Series D, 7.00%,
10/01/51 |
|
|
1,115 |
|
|
|
1,373,290 |
|
State of Alabama Docks Department, Refunding RB, 6.00%, 10/01/20 (a) |
|
|
655 |
|
|
|
754,049 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,593,148 |
|
Alaska 0.3% |
|
Northern Tobacco Securitization Corp., Refunding RB, Tobacco Settlement, Asset-Backed,
Series A, 4.63%, 6/01/23 |
|
|
355 |
|
|
|
356,292 |
|
Arizona 1.1% |
|
Salt Verde Financial Corp., RB, Senior, 5.00%, 12/01/37 |
|
|
1,000 |
|
|
|
1,203,820 |
|
California 10.1% |
|
Bay Area Toll Authority, Refunding RB, San Francisco Bay Area Toll Bridge, Series F-1,
5.63%, 4/01/19 (a) |
|
|
720 |
|
|
|
776,146 |
|
California Health Facilities Financing Authority, RB, Sutter Health, Series B, 6.00%, 8/15/42 |
|
|
1,010 |
|
|
|
1,149,047 |
|
California Health Facilities Financing Authority, Refunding RB, St. Joseph Health System, Series A,
5.00%, 7/01/33 |
|
|
400 |
|
|
|
457,036 |
|
California Municipal Finance Authority, RB, Senior, Caritas Affordable Housing, Inc. Projects, S/F Housing, Series
A: |
|
|
|
|
|
|
|
|
5.25%, 8/15/39 |
|
|
45 |
|
|
|
49,816 |
|
5.25%, 8/15/49 |
|
|
115 |
|
|
|
126,479 |
|
California Pollution Control Financing Authority, RB, Poseidon Resources (Channel Side) LP Desalination Project, AMT,
5.00%, 11/21/45 (b) |
|
|
475 |
|
|
|
506,982 |
|
California School Finance Authority, RB, Alliance For College-Ready Public School Projects, Series A,
5.00%, 7/01/51 (b) |
|
|
500 |
|
|
|
533,275 |
|
City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport,
Series A: |
|
|
|
|
|
|
|
|
Senior, 5.00%, 5/15/40 |
|
|
1,875 |
|
|
|
2,062,706 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
California (continued) |
|
City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport, Series A
(continued): |
|
|
|
|
|
|
|
|
5.25%, 5/15/39 |
|
$ |
250 |
|
|
$ |
268,225 |
|
City of Stockton California Public Financing Authority, RB, Delta Water Supply Project, Series A,
6.25%, 10/01/38 |
|
|
110 |
|
|
|
134,119 |
|
State of California, GO, Various Purposes: |
|
|
|
|
|
|
|
|
6.00%, 3/01/33 |
|
|
800 |
|
|
|
899,824 |
|
6.50%, 4/01/33 |
|
|
650 |
|
|
|
711,386 |
|
State of California Public Works Board, LRB, Various Capital Projects: |
|
|
|
|
|
|
|
|
Series I, 5.00%, 11/01/38 |
|
|
240 |
|
|
|
273,019 |
|
Sub-Series I-1, 6.38%, 11/01/19
(a) |
|
|
375 |
|
|
|
420,442 |
|
State of California Public Works Board, RB, Department of Corrections & Rehabilitation, Series F,
5.25%, 9/01/33 |
|
|
915 |
|
|
|
1,080,496 |
|
Tobacco Securitization Authority of Southern California, Refunding RB, Tobacco Settlement, Asset-Backed, Senior Series A-1: |
|
|
|
|
|
|
|
|
5.00%, 6/01/37 |
|
|
920 |
|
|
|
921,656 |
|
5.13%, 6/01/46 |
|
|
265 |
|
|
|
262,342 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,632,996 |
|
Colorado 2.4% |
|
Colorado Health Facilities Authority, Refunding RB, Catholic Health Initiative, Series A, 5.50%, 7/01/34 |
|
|
680 |
|
|
|
706,642 |
|
Denver Convention Center Hotel Authority, Refunding RB, 5.00%, 12/01/40 |
|
|
1,325 |
|
|
|
1,492,136 |
|
Regional Transportation District, COP, Refunding, Series A, 5.38%, 6/01/31 |
|
|
320 |
|
|
|
351,197 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,549,975 |
|
Delaware 2.0% |
|
County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Power LLC Project, 6.00%, 10/01/40 |
|
|
820 |
|
|
|
882,976 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
1 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Strategic Municipal Trust (BSD) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Delaware (continued) |
|
State of Delaware EDA, RB, Exempt Facilities, Indian River Power LLC Project, 5.38%, 10/01/45 |
|
$ |
1,210 |
|
|
$ |
1,259,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,142,659 |
|
District of Columbia 1.9% |
|
District of Columbia, Tax Allocation Bonds, City Market at O Street Project, 5.13%, 6/01/41 |
|
|
690 |
|
|
|
767,349 |
|
Metropolitan Washington Airports Authority, Refunding RB, Dulles Toll Road, 1st Senior Lien, Series A: |
|
|
|
|
|
|
|
|
5.00%, 10/01/39 |
|
|
160 |
|
|
|
171,128 |
|
5.25%, 10/01/44 |
|
|
1,000 |
|
|
|
1,073,130 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,011,607 |
|
Florida 1.9% |
|
Mid-Bay Florida Bridge Authority, RB, Springing Lien, Series A,
7.25%, 10/01/21 (a) |
|
|
950 |
|
|
|
1,178,941 |
|
Village Community Development District No.10, Special Assessment Bonds, 5.13%, 5/01/43 |
|
|
735 |
|
|
|
794,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,973,101 |
|
Georgia 1.6% |
|
County of Gainesville Georgia & Hall Hospital Authority, Refunding RB, Northeast Georgia Health System, Inc. Project,
Series A, 5.50%, 8/15/54 |
|
|
160 |
|
|
|
188,690 |
|
DeKalb Georgia Private Hospital Authority, Refunding RB, Childrens Healthcare, 5.25%, 11/15/39 |
|
|
265 |
|
|
|
287,583 |
|
Metropolitan Atlanta Rapid Transit Authority, RB, Sales Tax, 3rd Indenture, Series A, 5.00%, 7/01/19 |
|
|
1,095 |
|
|
|
1,170,796 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,647,069 |
|
Hawaii 0.4% |
|
State of Hawaii Harbor System, RB, Series A, 5.25%, 7/01/30 |
|
|
425 |
|
|
|
464,508 |
|
Illinois 20.5% |
|
City of Chicago Illinois, GO, Project, Series A, 5.00%, 1/01/34 |
|
|
570 |
|
|
|
571,545 |
|
City of Chicago Illinois, GO, Refunding, Project, Series A, 5.25%, 1/01/32 |
|
|
1,000 |
|
|
|
1,022,340 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Illinois (continued) |
|
City of Chicago Illinois OHare International Airport, ARB: |
|
|
|
|
|
|
|
|
3rd Lien, Series A, 5.75%, 1/01/21 (a) |
|
$ |
1,260 |
|
|
$ |
1,455,010 |
|
3rd Lien, Series A, 5.75%, 1/01/39 |
|
|
240 |
|
|
|
272,213 |
|
Senior Lien, Series D, AMT, 5.00%, 1/01/52 |
|
|
400 |
|
|
|
443,672 |
|
City of Chicago Illinois OHare International Airport, GARB, 3rd Lien: |
|
|
|
|
|
|
|
|
5.63%, 1/01/21 (a) |
|
|
645 |
|
|
|
742,131 |
|
5.63%, 1/01/35 |
|
|
155 |
|
|
|
174,944 |
|
Series C, 6.50%, 1/01/21 (a) |
|
|
1,855 |
|
|
|
2,188,603 |
|
City of Chicago Illinois Transit Authority, RB, Sales Tax Receipts, 5.25%, 12/01/40 |
|
|
330 |
|
|
|
355,493 |
|
City of Chicago Illinois Waterworks, Refunding RB, 2nd Lien Project, 5.00%, 11/01/42 |
|
|
1,040 |
|
|
|
1,099,342 |
|
County of Cook Illinois Community College District No. 508, GO, City College of Chicago, 5.50%, 12/01/38 |
|
|
245 |
|
|
|
262,816 |
|
Illinois Finance Authority, Refunding RB: |
|
|
|
|
|
|
|
|
Ascension Health, Series A, 5.00%, 11/15/37 |
|
|
305 |
|
|
|
335,686 |
|
Central Dupage Health, Series B, 5.50%, 11/01/39 |
|
|
2,500 |
|
|
|
2,731,450 |
|
Presence Health Network, Series C, 5.00%, 2/15/41 |
|
|
1,600 |
|
|
|
1,710,112 |
|
Illinois State Toll Highway Authority, RB, Senior, Series A, 5.00%, 1/01/38 |
|
|
730 |
|
|
|
817,578 |
|
Metropolitan Pier & Exposition Authority, Refunding RB, McCormick Place Expansion Project: |
|
|
|
|
|
|
|
|
CAB, Series B (AGM), 0.00%, 6/15/44 (c) |
|
|
2,980 |
|
|
|
903,655 |
|
Series B (AGM), 5.00%, 6/15/50 |
|
|
1,280 |
|
|
|
1,319,603 |
|
Series B-2, 5.00%, 6/15/50 |
|
|
785 |
|
|
|
787,661 |
|
Railsplitter Tobacco Settlement Authority, RB: |
|
|
|
|
|
|
|
|
5.50%, 6/01/23 |
|
|
175 |
|
|
|
199,406 |
|
6.00%, 6/01/28 |
|
|
940 |
|
|
|
1,070,989 |
|
State of Illinois, GO: |
|
|
|
|
|
|
|
|
5.00%, 3/01/37 |
|
|
455 |
|
|
|
466,016 |
|
Series A, 5.00%, 4/01/35 |
|
|
1,000 |
|
|
|
1,028,230 |
|
Series A, 5.00%, 4/01/38 |
|
|
1,135 |
|
|
|
1,160,764 |
|
State of Illinois, RB, Build Illinois, Series B, 5.25%, 6/15/19 (a) |
|
|
200 |
|
|
|
215,778 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
|
|
|
|
Schedule of Investments (continued) |
|
BlackRock Strategic Municipal Trust (BSD) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Illinois (continued) |
|
University of Illinois, RB, Auxiliary Facilities System, Series A, 5.00%, 4/01/44 |
|
$ |
310 |
|
|
$ |
337,615 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,672,652 |
|
Indiana 4.8% |
|
City of Valparaiso Indiana, RB, Exempt Facilities, Pratt Paper LLC Project, AMT: |
|
|
|
|
|
|
|
|
6.75%, 1/01/34 |
|
|
245 |
|
|
|
291,251 |
|
7.00%, 1/01/44 |
|
|
1,090 |
|
|
|
1,307,858 |
|
Indiana Finance Authority, RB, Series A: |
|
|
|
|
|
|
|
|
CWA Authority Project, 1st Lien, 5.25%, 10/01/38 |
|
|
1,020 |
|
|
|
1,163,820 |
|
Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 7/01/44 |
|
|
140 |
|
|
|
149,779 |
|
Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 7/01/48 |
|
|
465 |
|
|
|
499,145 |
|
Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.25%, 1/01/51 |
|
|
125 |
|
|
|
135,345 |
|
Sisters of St. Francis Health Services, 5.25%, 11/01/39 |
|
|
270 |
|
|
|
290,752 |
|
Indiana Finance Authority, Refunding RB, Marquette Project, 4.75%, 3/01/32 |
|
|
350 |
|
|
|
354,298 |
|
Indiana Municipal Power Agency, RB, Series B, 6.00%, 1/01/19 (a) |
|
|
350 |
|
|
|
374,812 |
|
Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 1/15/40 |
|
|
400 |
|
|
|
452,660 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,019,720 |
|
Iowa 1.4% |
|
Iowa Finance Authority, Refunding RB, Midwestern Disaster Area, Iowa Fertilizer Co. Project: |
|
|
|
|
|
|
|
|
5.00%, 12/01/19 |
|
|
160 |
|
|
|
163,411 |
|
5.50%, 12/01/22 |
|
|
730 |
|
|
|
746,002 |
|
5.25%, 12/01/25 |
|
|
145 |
|
|
|
154,669 |
|
5.88%, 12/01/26 (b) |
|
|
130 |
|
|
|
135,691 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Iowa (continued) |
|
Iowa Student Loan Liquidity Corp., Refunding RB, Student Loan, Senior Series A-1, AMT,
5.15%, 12/01/22 |
|
$ |
310 |
|
|
$ |
328,578 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,528,351 |
|
Kentucky 4.6% |
|
Kentucky Economic Development Finance Authority, RB, Catholic Health Initiatives, Series A, 5.25%, 1/01/45 |
|
|
325 |
|
|
|
349,180 |
|
Kentucky Economic Development Finance Authority, Refunding RB, Norton Healthcare, Inc., Series B (NPFGC),
0.00%, 10/01/24 (c) |
|
|
5,000 |
|
|
|
4,130,050 |
|
Kentucky Public Transportation Infrastructure Authority, RB, Downtown Crossing Project, Convertible CAB, 1st Tier, Series C,
0.00%, 7/01/43 (d) |
|
|
375 |
|
|
|
324,154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,803,384 |
|
Louisiana 4.0% |
|
Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Westlake Chemical Corp. Project,
Series A-1, 6.50%, 11/01/35 |
|
|
1,055 |
|
|
|
1,198,090 |
|
Parish of St. John the Baptist Louisiana, RB, Marathon Oil Corp., Series A, 5.13%, 6/01/37 |
|
|
1,405 |
|
|
|
1,407,571 |
|
Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, Series A: |
|
|
|
|
|
|
|
|
5.50%, 5/15/30 |
|
|
320 |
|
|
|
337,718 |
|
5.25%, 5/15/31 |
|
|
270 |
|
|
|
286,635 |
|
5.25%, 5/15/32 |
|
|
345 |
|
|
|
370,713 |
|
5.25%, 5/15/33 |
|
|
375 |
|
|
|
401,224 |
|
5.25%, 5/15/35 |
|
|
160 |
|
|
|
172,358 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,174,309 |
|
Maryland 1.5% |
|
Maryland EDC, RB, Transportation Facilities Project, Series A, 5.75%, 6/01/35 |
|
|
135 |
|
|
|
144,872 |
|
Maryland EDC, Refunding RB, CNX Marine Terminals, Inc., 5.75%, 9/01/25 |
|
|
645 |
|
|
|
652,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
3 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Strategic Municipal Trust (BSD) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Maryland (continued) |
|
Maryland Health & Higher Educational Facilities Authority, Refunding RB, Charlestown Community Project,
6.25%, 1/01/21 (a) |
|
$ |
690 |
|
|
$ |
806,293 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,603,357 |
|
Massachusetts 2.9% |
|
Massachusetts Development Finance Agency, RB: |
|
|
|
|
|
|
|
|
Emerson College Issue, Series A, 5.00%, 1/01/47 |
|
|
540 |
|
|
|
599,000 |
|
UMass Boston Student Housing Project, 5.00%, 10/01/48 |
|
|
600 |
|
|
|
655,260 |
|
Massachusetts Development Finance Agency, Refunding RB, Covanta Energy Project, Series C, AMT,
5.25%, 11/01/42 (b) |
|
|
445 |
|
|
|
445,961 |
|
Massachusetts HFA, Refunding RB, Series A, AMT, 4.50%, 12/01/47 |
|
|
1,350 |
|
|
|
1,393,200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,093,421 |
|
Michigan 4.3% |
|
City of Detroit Michigan Sewage Disposal System, Refunding RB, Senior Lien, Series A, 5.25%, 7/01/39 |
|
|
1,925 |
|
|
|
2,139,253 |
|
City of Lansing Michigan, RB, Board of Water & Light Utilities System, Series A, 5.50%, 7/01/41 |
|
|
465 |
|
|
|
530,444 |
|
Kalamazoo Hospital Finance Authority, Refunding RB, Bronson Methodist Hospital: |
|
|
|
|
|
|
|
|
5.50%, 5/15/20 (a) |
|
|
240 |
|
|
|
268,675 |
|
5.50%, 5/15/36 |
|
|
195 |
|
|
|
213,307 |
|
Michigan Finance Authority, Refunding RB, Detroit Water & Sewage Department Project, Senior Lien, Series C-1, 5.00%, 7/01/44 |
|
|
275 |
|
|
|
298,911 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Michigan (continued) |
|
Royal Oak Michigan Hospital Finance Authority, Refunding RB, William Beaumont Hospital, Series V,
8.25%, 9/01/18 (a) |
|
$ |
1,000 |
|
|
$ |
1,078,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,529,290 |
|
Missouri 0.5% |
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Refunding RB,
Combined Lien, Series A, 5.00%, 10/01/44 |
|
|
80 |
|
|
|
90,693 |
|
State of Missouri Health & Educational Facilities Authority, RB, Senior Living Facilities, Lutheran Senior Services,
5.50%, 2/01/42 |
|
|
330 |
|
|
|
348,180 |
|
State of Missouri Health & Educational Facilities Authority, Refunding RB, St. Louis College of Pharmacy Project,
5.50%, 5/01/43 |
|
|
80 |
|
|
|
87,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
526,612 |
|
Nebraska 1.5% |
|
Central Plains Energy Project Nebraska, RB, Gas Project No. 3: |
|
|
|
|
|
|
|
|
5.25%, 9/01/37 |
|
|
260 |
|
|
|
285,969 |
|
5.00%, 9/01/42 |
|
|
455 |
|
|
|
490,472 |
|
County of Douglas Nebraska Hospital Authority No. 2, Refunding RB, Health Facilities, Immanuel Obligation Group,
5.63%, 1/01/40 |
|
|
720 |
|
|
|
765,972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,542,413 |
|
New Jersey 10.2% |
|
Casino Reinvestment Development Authority, Refunding RB: |
|
|
|
|
|
|
|
|
5.25%, 11/01/39 |
|
|
320 |
|
|
|
328,509 |
|
5.25%, 11/01/44 |
|
|
585 |
|
|
|
596,606 |
|
County of Essex New Jersey Improvement Authority, RB, AMT, 5.25%, 7/01/45 (b) |
|
|
340 |
|
|
|
341,989 |
|
County of Middlesex New Jersey Improvement Authority, RB, Heldrich Center Hotel, Sub-Series
B, 6.25%, 1/01/37 (e)(f) |
|
|
645 |
|
|
|
6,773 |
|
New Jersey EDA, RB, AMT: |
|
|
|
|
|
|
|
|
Continental Airlines, Inc. Project, 5.13%, 9/15/23 |
|
|
1,090 |
|
|
|
1,178,922 |
|
Continental Airlines, Inc. Project, 5.25%, 9/15/29 |
|
|
145 |
|
|
|
157,824 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
|
|
|
|
Schedule of Investments (continued) |
|
BlackRock Strategic Municipal Trust (BSD) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
New Jersey (continued) |
|
New Jersey EDA, RB, AMT (continued): |
|
|
|
|
|
|
|
|
Goethals Bridge Replacement Project, Private Activity Bond, 5.38%, 1/01/43 |
|
$ |
500 |
|
|
$ |
558,345 |
|
New Jersey EDA, Refunding RB, Series BBB, 5.50%, 6/15/31 |
|
|
775 |
|
|
|
850,462 |
|
New Jersey EDA, Refunding, Special Assessment Bonds, Kapkowski Road Landfill Project, 5.75%, 4/01/31 |
|
|
705 |
|
|
|
790,270 |
|
New Jersey State Turnpike Authority, RB: |
|
|
|
|
|
|
|
|
Series A, 5.00%, 1/01/43 |
|
|
1,625 |
|
|
|
1,824,647 |
|
Series E, 5.25%, 1/01/19 (a) |
|
|
1,355 |
|
|
|
1,437,574 |
|
New Jersey Transportation Trust Fund Authority, RB: |
|
|
|
|
|
|
|
|
Federal Highway Reimbursement Revenue Notes, Series A, 5.00%, 6/15/28 |
|
|
500 |
|
|
|
543,985 |
|
Transportation Program, Series AA, 5.00%, 6/15/45 |
|
|
415 |
|
|
|
426,114 |
|
Transportation System, Series A, 5.50%, 6/15/41 |
|
|
575 |
|
|
|
596,850 |
|
Transportation System, Series B, 5.25%, 6/15/36 |
|
|
790 |
|
|
|
820,462 |
|
New Jersey Turnpike Authority, Refunding RB, Series B, 4.00%, 1/01/37 (g) |
|
|
150 |
|
|
|
159,184 |
|
Rutgers The State University of New Jersey, Refunding RB, Series L, 5.00%, 5/01/43 |
|
|
165 |
|
|
|
185,267 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,803,783 |
|
New York 8.8% |
|
City of New York New York Transitional Finance Authority Future Tax Secured, RB, Fiscal 2012, Sub-Series E-1, 5.00%, 2/01/42 |
|
|
770 |
|
|
|
864,702 |
|
Counties of Buffalo & Erie New York Industrial Land Development Corp., Refunding RB, The Charter School for Applied
Technologies Project, Series A, 5.00%, 6/01/35 |
|
|
500 |
|
|
|
540,295 |
|
Counties of New York Tobacco Trust IV, Refunding RB, Settlement Pass-Through Turbo, Series A, 6.25%, 6/01/41
(b) |
|
|
600 |
|
|
|
617,028 |
|
County of Westchester New York Healthcare Corp., RB, Senior Lien, Series A, 5.00%, 11/01/44 |
|
|
286 |
|
|
|
306,440 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
New York (continued) |
|
Metropolitan Transportation Authority, RB, Series B, 5.25%, 11/15/38 |
|
$ |
750 |
|
|
$ |
881,602 |
|
New York Liberty Development Corp., Refunding RB: |
|
|
|
|
|
|
|
|
2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 7/15/49 |
|
|
385 |
|
|
|
417,198 |
|
3 World Trade Center Project, Class 1, 5.00%, 11/15/44 (b) |
|
|
1,365 |
|
|
|
1,478,295 |
|
3 World Trade Center Project, Class 2, 5.15%, 11/15/34 (b) |
|
|
105 |
|
|
|
115,347 |
|
3 World Trade Center Project, Class 2, 5.38%, 11/15/40 (b) |
|
|
265 |
|
|
|
294,010 |
|
New York Transportation Development Corp., ARB, LaGuardia Airport Terminal B Redevelopment Project, Series A, AMT,
5.25%, 1/01/50 |
|
|
1,000 |
|
|
|
1,096,800 |
|
New York Transportation Development Corp., Refunding RB, American Airlines, Inc., AMT, 5.00%, 8/01/20 |
|
|
250 |
|
|
|
269,188 |
|
Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series A, AMT,
5.25%, 11/01/42 (b) |
|
|
330 |
|
|
|
331,003 |
|
Port Authority of New York & New Jersey, ARB, Special Project, JFK International Air Terminal LLC Project,
Series 8: |
|
|
|
|
|
|
|
|
6.00%, 12/01/36 |
|
|
410 |
|
|
|
460,684 |
|
6.00%, 12/01/42 |
|
|
395 |
|
|
|
442,838 |
|
Port Authority of New York & New Jersey, Refunding ARB, Consolidated, 206th Series, AMT,
5.00%, 11/15/37 (g) |
|
|
985 |
|
|
|
1,146,264 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,261,694 |
|
North Carolina 0.6% |
|
North Carolina Medical Care Commission, RB, Health Care Facilities, Duke University Health System, Series A,
5.00%, 6/01/19 (a) |
|
|
440 |
|
|
|
472,349 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
5 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Strategic Municipal Trust (BSD) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
North Carolina (continued) |
|
North Carolina Medical Care Commission, Refunding RB, 1st Mortgage, Retirement Facilities Whitestone Project, Series A,
7.75%, 3/01/41 |
|
$ |
185 |
|
|
$ |
203,751 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
676,100 |
|
Ohio 1.1% |
|
County of Franklin Ohio, RB, Health Care Facilities Improvement, OPRS Communities Obligation Group, Series A,
6.13%, 7/01/40 |
|
|
210 |
|
|
|
232,892 |
|
County of Montgomery Ohio, Refunding RB, Catholic Health: |
|
|
|
|
|
|
|
|
5.00%, 5/01/19 (a) |
|
|
310 |
|
|
|
331,641 |
|
Series A, 5.00%, 5/01/39 |
|
|
575 |
|
|
|
594,539 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,159,072 |
|
Oklahoma 1.8% |
|
County of Tulsa Oklahoma Industrial Authority, Refunding RB, Montereau, Inc. Project, 5.25%, 11/15/37 |
|
|
385 |
|
|
|
425,629 |
|
Oklahoma Development Finance Authority, RB, Provident Oklahoma Education Resources, Inc., Cross Village Student Housing Project,
Series A, 5.25%, 8/01/57 |
|
|
765 |
|
|
|
840,138 |
|
Tulsa County Industrial Authority, Refunding RB, Montereau, Inc. Project, 5.25%, 11/15/45 |
|
|
585 |
|
|
|
638,896 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,904,663 |
|
Oregon 0.9% |
|
County of Clackamas Oregon School District No. 12 North Clackamas, GO, CAB, Series A, 0.00%, 6/15/38 (c) |
|
|
395 |
|
|
|
169,368 |
|
State of Oregon Facilities Authority, RB, Student Housing, CHF-Ashland, Southern Oregon
University Project, 5.00%, 7/01/44 |
|
|
715 |
|
|
|
786,421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
955,789 |
|
Pennsylvania 3.1% |
|
City of Philadelphia Pennsylvania Hospitals & Higher Education Facilities Authority, RB, Temple University Health System,
Series A, 5.63%, 7/01/42 |
|
|
200 |
|
|
|
214,978 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Pennsylvania (continued) |
|
Pennsylvania Economic Development Financing Authority, RB: |
|
|
|
|
|
|
|
|
Aqua Pennsylvania, Inc. Project, Series B, 5.00%, 11/15/40 |
|
$ |
600 |
|
|
$ |
645,762 |
|
Pennsylvania Bridge Finco LP, AMT, 5.00%, 6/30/42 |
|
|
650 |
|
|
|
722,007 |
|
Pennsylvania Economic Development Financing Authority, Refunding RB, National Gypsum Co., AMT, 5.50%, 11/01/44 |
|
|
480 |
|
|
|
515,054 |
|
Pennsylvania Housing Finance Agency, RB, S/F Housing Mortgage, Series 123-B, 4.00%,
10/01/42 |
|
|
755 |
|
|
|
773,626 |
|
Pennsylvania Turnpike Commission, RB, Series A, 5.00%, 12/01/44 |
|
|
345 |
|
|
|
386,248 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,257,675 |
|
Puerto Rico 1.1% |
|
Childrens Trust Fund, Refunding RB, Tobacco Settlement Asset-Backed Bonds: |
|
|
|
|
|
|
|
|
5.50%, 5/15/39 |
|
|
255 |
|
|
|
252,909 |
|
5.63%, 5/15/43 |
|
|
920 |
|
|
|
902,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,155,641 |
|
Rhode Island 2.6% |
|
Rhode Island Health & Educational Building Corp., RB, Series G (AGM), 5.00%, 5/15/42 (g) |
|
|
250 |
|
|
|
285,950 |
|
Tobacco Settlement Financing Corp., Refunding RB, Series B: |
|
|
|
|
|
|
|
|
4.50%, 6/01/45 |
|
|
830 |
|
|
|
835,403 |
|
5.00%, 6/01/50 |
|
|
1,580 |
|
|
|
1,622,123 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,743,476 |
|
South Carolina 2.8% |
|
State of South Carolina Ports Authority, RB: |
|
|
|
|
|
|
|
|
5.25%, 7/01/40 |
|
|
1,040 |
|
|
|
1,134,515 |
|
AMT, 5.25%, 7/01/55 |
|
|
405 |
|
|
|
455,293 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
|
|
|
|
Schedule of Investments (continued) |
|
BlackRock Strategic Municipal Trust (BSD) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
South Carolina (continued) |
|
State of South Carolina Public Service Authority, RB, Santee Cooper, Series A, 5.50%, 12/01/54 |
|
$ |
1,220 |
|
|
$ |
1,380,332 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,970,140 |
|
Tennessee 0.5% |
|
City of Chattanooga Health Educational & Housing Facility Board, RB, Catholic Health Initiatives, Series A,
5.25%, 1/01/45 |
|
|
430 |
|
|
|
454,428 |
|
Metropolitan Government of Nashville & Davidson County Health & Educational Facilities Board, RB, Vanderbilt
University Medical Center, Series A, 4.00%, 7/01/47 |
|
|
100 |
|
|
|
102,456 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
556,884 |
|
Texas 12.1% |
|
Central Texas Regional Mobility Authority, Refunding RB: |
|
|
|
|
|
|
|
|
Senior Lien, 6.25%, 1/01/21 (a) |
|
|
680 |
|
|
|
795,110 |
|
Sub-Lien, 5.00%, 1/01/33 |
|
|
115 |
|
|
|
125,276 |
|
City of Austin Texas Airport System, ARB, Revenue, AMT, 5.00%, 11/15/39 |
|
|
190 |
|
|
|
212,986 |
|
City of Dallas Texas Waterworks & Sewer System Revenue, Refunding RB, 5.00%, 10/01/20 (a) |
|
|
220 |
|
|
|
246,664 |
|
City of Houston Texas Airport System, Refunding ARB: |
|
|
|
|
|
|
|
|
Senior Lien, Series A, 5.50%, 7/01/39 |
|
|
485 |
|
|
|
504,245 |
|
United Airlines, Inc. Terminal E Project, AMT, 5.00%, 7/01/29 |
|
|
135 |
|
|
|
145,066 |
|
City of Houston Texas Combined Utility System Revenue, Refunding RB, Combined 1st Lien, Series A (AGC): |
|
|
|
|
|
|
|
|
6.00%, 5/15/19 (a) |
|
|
2,585 |
|
|
|
2,815,504 |
|
6.00%, 11/15/35 |
|
|
145 |
|
|
|
158,060 |
|
Clifton Higher Education Finance Corp., RB, Idea Public Schools, 6.00%, 8/15/43 |
|
|
230 |
|
|
|
264,424 |
|
County of Harris Texas Cultural Education Facilities Finance Corp., RB, 1st Mortgage, Brazos Presbyterian Homes, Inc. Project,
Series B, 7.00%, 1/01/23 (a) |
|
|
145 |
|
|
|
186,950 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Texas (continued) |
|
County of Harris Texas-Houston Sports Authority, Refunding RB, CAB, Senior Lien, Series A (NPFGC),
0.00%, 11/15/38 (c) |
|
$ |
4,750 |
|
|
$ |
1,780,253 |
|
County of Midland Texas Fresh Water Supply District No. 1, RB, CAB, City of Midland Projects, Series A,
0.00%, 9/15/37 (c) |
|
|
4,485 |
|
|
|
1,936,040 |
|
County of Tarrant Texas Cultural Education Facilities Finance Corp., RB, Scott & White Healthcare (a): |
|
|
|
|
|
|
|
|
6.00%, 8/15/20 |
|
|
95 |
|
|
|
108,990 |
|
6.00%, 8/15/20 |
|
|
1,175 |
|
|
|
1,348,031 |
|
La Vernia Higher Education Finance Corp., RB, Kipp, Inc., Series A, 6.38%, 8/15/19 (a) |
|
|
500 |
|
|
|
553,115 |
|
North Texas Tollway Authority, RB, CAB, Special Project System, Series B, 0.00%, 9/01/37 (c) |
|
|
640 |
|
|
|
254,163 |
|
Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien: |
|
|
|
|
|
|
|
|
Blueridge Transportation Group, AMT, 5.00%, 12/31/55 |
|
|
450 |
|
|
|
489,857 |
|
LBJ Infrastructure Group LLC, 7.00%, 6/30/40 |
|
|
500 |
|
|
|
568,510 |
|
NTE Mobility Partners LLC, North Tarrant Express Managed Lanes Project, 6.88%, 12/31/39 |
|
|
275 |
|
|
|
307,722 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,800,966 |
|
Virginia 4.6% |
|
Ballston Quarter Community Development Authority, Tax Allocation Bonds, Series A: |
|
|
|
|
|
|
|
|
5.00%, 3/01/26 |
|
|
165 |
|
|
|
166,686 |
|
5.13%, 3/01/31 |
|
|
320 |
|
|
|
321,075 |
|
University of Virginia, Refunding RB, General, 5.00%, 6/01/18 (a) |
|
|
2,500 |
|
|
|
2,585,825 |
|
Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings OpCo LLC Project, AMT: |
|
|
|
|
|
|
|
|
5.25%, 1/01/32 |
|
|
250 |
|
|
|
277,097 |
|
6.00%, 1/01/37 |
|
|
1,320 |
|
|
|
1,495,864 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,846,547 |
|
Washington 1.0% |
|
Port of Seattle Washington, RB, Series C, AMT, 5.00%, 4/01/40 |
|
|
235 |
|
|
|
262,525 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
7 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Strategic Municipal Trust (BSD) |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par (000) |
|
|
Value |
|
Washington (continued) |
|
Washington Health Care Facilities Authority, RB, Catholic Health Initiatives, Series A, 5.75%, 1/01/45 |
|
$ |
715 |
|
|
$ |
787,058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,049,583 |
|
Wyoming 1.6% |
|
County of Sweetwater Wyoming, Refunding RB, Idaho Power Co. Project, Remarketing, 5.25%, 7/15/26 |
|
|
975 |
|
|
|
1,055,535 |
|
Wyoming Municipal Power Agency, Inc., RB, Series A (a): |
|
|
|
|
|
|
|
|
5.38%, 1/01/18 |
|
|
500 |
|
|
|
509,490 |
|
5.00%, 1/01/19 |
|
|
95 |
|
|
|
100,442 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,665,467 |
|
Total Municipal Bonds 123.0% |
|
|
|
|
|
|
129,876,164 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (h) |
|
|
|
|
|
|
Alabama 0.8% |
|
Auburn University, Refunding RB, Series A, 4.00%, 6/01/41 |
|
|
780 |
|
|
|
823,352 |
|
California 9.7% |
|
California Educational Facilities Authority, RB, University of Southern California, Series B,
5.25%, 10/01/18 (a)(i) |
|
|
855 |
|
|
|
898,571 |
|
City & County of San Francisco California Public Utilities Commission, RB, Water Revenue, Series B,
5.00%, 11/01/19 (a) |
|
|
2,970 |
|
|
|
3,238,488 |
|
City of Los Angeles Department of Airports, RB, Los Angeles International Airport, AMT, Series B,
5.00%, 5/15/46 |
|
|
2,000 |
|
|
|
2,282,040 |
|
Los Angeles Community College District California, GO, Election of 2001, Series A (AGM),
5.00%, 8/01/32 (a) |
|
|
740 |
|
|
|
740,000 |
|
Sacramento Area Flood Control Agency, Refunding RB, Consolidated Capital Assessment District No. 2, Series A,
5.00%, 10/01/43 |
|
|
2,160 |
|
|
|
2,522,750 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (h) |
|
Par (000) |
|
|
Value |
|
California (continued) |
|
San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/19 (a) |
|
$ |
553 |
|
|
$ |
600,816 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,282,665 |
|
Colorado 3.1% |
|
Colorado Health Facilities Authority, RB, Catholic Health (AGM) (a): |
|
|
|
|
|
|
|
|
Series C-3, 5.10%, 4/29/18 |
|
|
1,210 |
|
|
|
1,247,982 |
|
Series C-7, 5.00%, 5/01/18 |
|
|
780 |
|
|
|
804,079 |
|
County of Adams Colorado, COP, Refunding, 4.00%, 12/01/45 |
|
|
1,180 |
|
|
|
1,225,748 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,277,809 |
|
Illinois 2.1% |
|
State of Illinois Toll Highway Authority, RB, Series C,
5.00%, 1/01/38 |
|
|
1,997 |
|
|
|
2,259,303 |
|
Massachusetts 0.8% |
|
Massachusetts School Building Authority, RB, Senior, Series B,
5.00%, 10/15/41 |
|
|
720 |
|
|
|
815,331 |
|
New Hampshire 0.7% |
|
New Hampshire Health & Education Facilities Authority, RB, Dartmouth College,
5.25%, 6/01/19 (a)(i) |
|
|
645 |
|
|
|
695,167 |
|
New York 10.0% |
|
City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution,
Series FF-2, 5.50%, 6/15/40 |
|
|
510 |
|
|
|
550,239 |
|
Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (i) |
|
|
500 |
|
|
|
577,844 |
|
Metropolitan Transportation Authority, Refunding RB, Series C-1,
5.25%, 11/15/56 |
|
|
2,000 |
|
|
|
2,328,456 |
|
New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43 |
|
|
3,375 |
|
|
|
3,825,783 |
|
New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.75%, 11/15/51 (i) |
|
|
2,030 |
|
|
|
2,343,248 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
|
|
|
|
Schedule of Investments (continued) |
|
BlackRock Strategic Municipal Trust (BSD) |
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (h) |
|
Par (000) |
|
|
Value |
|
New York (continued) |
|
Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55 |
|
$ |
810 |
|
|
$ |
942,224 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,567,794 |
|
North Carolina 0.9% |
|
North Carolina Capital Facilities Finance Agency, Refunding RB, Duke University Project,
Series B, 5.00%, 10/01/55 |
|
|
800 |
|
|
|
914,472 |
|
Pennsylvania 4.1% |
|
County of Westmoreland Pennsylvania Municipal Authority, Refunding RB, (BAM), 5.00%, 8/15/38 |
|
|
1,034 |
|
|
|
1,179,213 |
|
Pennsylvania Turnpike Commission, RB, Sub-Series A,
5.50%, 12/01/42 |
|
|
1,379 |
|
|
|
1,634,529 |
|
Pennsylvania Turnpike Commission, Refunding RB, Sub Series B-2 (AGM),
5.00%, 6/01/35 |
|
|
1,280 |
|
|
|
1,469,517 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,283,259 |
|
Texas 5.2% |
|
City of San Antonio Texas Public Service Board, RB, Electric & Gas Systems, Junior Lien,
5.00%, 2/01/43 |
|
|
780 |
|
|
|
886,065 |
|
County of Harris Texas, RB, Toll Road, Senior Lien, Series A: |
|
|
|
|
|
|
|
|
5.00%, 8/15/19 (a) |
|
|
1,214 |
|
|
|
1,301,601 |
|
5.00%, 8/15/38 |
|
|
928 |
|
|
|
995,612 |
|
County of Harris Texas Metropolitan Transit Authority, Refunding RB, Series A, 5.00%, 11/01/41 |
|
|
1,080 |
|
|
|
1,214,395 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (h) |
|
Par (000) |
|
|
Value |
|
Texas (continued) |
|
University of Texas, Refunding RB, Financing System, Series B, 5.00%, 8/15/43 |
|
$ |
975 |
|
|
$ |
1,106,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,504,093 |
|
Utah 1.2% |
|
City of Riverton Utah, RB, IHC Health Services, Inc., 5.00%, 8/15/41 |
|
|
1,155 |
|
|
|
1,227,364 |
|
Virginia 1.7% |
|
University of Virginia, Refunding RB, GO, 5.00%, 6/01/18 (a) |
|
|
1,785 |
|
|
|
1,845,841 |
|
Washington 2.4% |
|
State of Washington, GO, Various Purposes, Series E,
5.00%, 2/01/19 (a) |
|
|
2,400 |
|
|
|
2,545,576 |
|
Total Municipal Bonds Transferred to Tender Option Bond Trusts 42.7% |
|
|
|
45,042,026 |
|
Total Long-Term Investments (Cost $162,144,033) 165.7% |
|
|
|
174,918,190 |
|
Liabilities in Excess of Other Assets (0.8)% |
|
|
|
(764,961 |
) |
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable
(24.3)% |
|
|
|
(25,671,082 |
) |
VMTP Shares at Liquidation Value (40.6)% |
|
|
|
(42,900,000 |
) |
|
|
|
|
|
|
|
|
|
Net Assets Applicable to Common Shares 100.0% |
|
|
$ |
105,582,147 |
|
|
|
|
|
|
|
|
|
|
* As of July 31, 2017, gross unrealized appreciation and depreciation based on
cost for U.S. federal income tax purposes were as follows: |
|
Tax cost |
|
|
|
|
|
$ |
136,653,815 |
|
|
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
|
|
|
|
$ |
13,566,459 |
|
Gross unrealized depreciation |
|
|
|
|
|
|
(926,556 |
) |
|
|
|
|
|
|
|
|
|
Net unrealized appreciation |
|
|
|
|
|
$ |
12,639,903 |
|
|
|
|
|
|
|
|
|
|
|
Notes to Schedule of Investments |
* |
|
Cost for U.S. federal income tax purposes. |
(a) |
|
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. |
(b) |
|
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from
registration to qualified institutional investors. |
(d) |
|
Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as
of period end. |
(e) |
|
Non-income producing security. |
(f) |
|
Issuer filed for bankruptcy and/or is in default. |
(g) |
|
When-issued security. |
(h) |
|
Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
9 |
|
|
|
Schedule of Investments (continued) |
|
BlackRock Strategic Municipal Trust (BSD) |
(i) |
|
All or a portion of security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements,
which expire between May 7, 2018 to February 15, 2031, is $4,050,255. |
During the period ended
July 31, 2017, investments in issuers considered to be an affiliate of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliate |
|
Shares Held at April 30, 2017 |
|
|
Net Activity |
|
|
Shares Held at July 31, 2017 |
|
|
Value at July 31, 2017 |
|
|
Income |
|
|
Net Realized Gain1 |
|
|
Change in Unrealized Appreciation (Depreciation) |
|
BlackRock Liquidity Funds, MuniCash, Institutional Class |
|
|
512,707 |
|
|
|
(512,707 |
) |
|
|
|
|
|
|
|
|
|
$ |
509 |
|
|
$ |
140 |
|
|
|
|
|
1 Includes net capital gain
distributions. |
|
|
Derivative Financial Instruments Outstanding as of Period
End |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Futures Contracts |
|
Description |
|
Number of Contracts |
|
|
Expiration Date |
|
Notional Amount (000) |
|
|
Unrealized Depreciation |
|
Short Contracts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5-Year U.S. Treasury Note |
|
|
(9 |
) |
|
September 2017 |
|
$ |
1,063 |
|
|
|
|
|
|
$ |
(96 |
) |
10-Year U.S. Treasury Note |
|
|
(26 |
) |
|
September 2017 |
|
$ |
3,273 |
|
|
|
|
|
|
|
(527 |
) |
Long U.S. Treasury Bond |
|
|
(21 |
) |
|
September 2017 |
|
$ |
3,212 |
|
|
|
|
|
|
|
(9,029 |
) |
Ultra U.S. Treasury Bond |
|
|
(6 |
) |
|
September 2017 |
|
$ |
987 |
|
|
|
|
|
|
|
(8,149 |
) |
Total |
|
|
|
|
|
|
$ |
(17,801 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
AGC |
|
Assured Guarantee Corp. |
AGM |
|
Assured Guaranty Municipal Corp. |
AMT |
|
Alternative Minimum Tax (subject to) |
ARB |
|
Airport Revenue Bonds |
BAM |
|
Build America Mutual Assurance Co. |
CAB |
|
Capital Appreciation Bonds |
COP |
|
Certificates of Participation |
EDA |
|
Economic Development Authority |
EDC |
|
Economic Development Corp. |
GARB |
|
General Airport Revenue Bonds |
GO |
|
General Obligation Bonds |
HFA |
|
Housing Finance Agency |
LRB |
|
Lease Revenue Bonds |
NPFGC |
|
National Public Finance Guarantee Corp. |
RB |
|
Revenue Bonds |
S/F |
|
Single-Family |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10 |
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
|
|
|
|
Schedule of Investments (concluded) |
|
BlackRock Strategic Municipal Trust (BSD) |
|
Fair Value Hierarchy as of Period End |
Various inputs are used in determining the fair value of investments. 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 marketcorroborated inputs) |
|
|
|
Level 3 Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available
(including the Trusts own assumptions used in determining the fair value of investments) |
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. Level 3
investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.
Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with
the Trusts policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing
transparency of the investments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trusts policy regarding valuation of investments, refer to the Trusts most recent
financial statements as contained in its annual report.
The following tables summarize the Trusts investments and
derivative financial instruments categorized in the disclosure hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Assets: |
|
Investments: |
|
Long-Term
Investments1 |
|
|
|
|
|
$ |
174,918,190 |
|
|
|
|
|
|
$ |
174,918,190 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative Financial Instruments2 |
|
Liabilities: |
|
Interest rate contracts
|
|
$ |
(17,801 |
) |
|
|
|
|
|
|
|
|
|
$ |
(17,801 |
) |
1 See above Schedule
of Investments for values in each state or political subdivision. |
|
2 Derivative
financial instruments are futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument. |
|
The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for
financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Liabilities: |
|
TOB Trust Certificates |
|
|
|
|
|
$ |
(25,624,472 |
) |
|
|
|
|
|
$ |
(25,624,472 |
) |
VMTP Shares at Liquidation Value |
|
|
|
|
|
|
(42,900,000 |
) |
|
|
|
|
|
|
(42,900,000 |
) |
|
|
|
|
|
Total |
|
|
|
|
|
$ |
(68,524,472 |
) |
|
|
|
|
|
$ |
(68,524,472 |
) |
|
|
|
|
|
During the period ended July 31, 2017, there were no transfers between levels.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK STRATEGIC MUNICIPAL TRUST |
|
JULY 31, 2017 |
|
11 |
Item 2 Controls and Procedures
2(a) |
The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act of 1940, as amended (the 1940 Act)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under
the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended. |
2(b) |
There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, the registrants internal control over financial reporting. |
Item 3 Exhibits
Certifications
Attached hereto
|
|
|
|
|
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. |
|
|
|
|
The BlackRock Strategic Municipal Trust |
|
|
|
|
|
By: |
|
/s/ John M. Perlowski |
|
|
|
|
John M. Perlowski |
|
|
|
|
Chief Executive Officer (principal executive officer) of
The BlackRock Strategic Municipal Trust |
|
|
|
|
|
Date: |
|
September 25, 2017 |
|
|
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and
on the dates indicated. |
|
|
|
|
|
By: |
|
/s/ John M. Perlowski |
|
|
|
|
John M. Perlowski |
|
|
|
|
Chief Executive Officer (principal executive officer) of
The BlackRock Strategic Municipal Trust |
|
|
|
|
|
Date: |
|
September 25, 2017 |
|
|
|
|
|
By: |
|
/s/ Neal J. Andrews |
|
|
|
|
Neal J. Andrews |
|
|
|
|
Chief Financial Officer (principal financial officer) of
The BlackRock Strategic Municipal Trust |
|
|
|
|
|
Date: |
|
September 25, 2017 |