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 811-06414
Name of Fund: BlackRock MuniYield Fund, Inc. (MYD)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield Fund, Inc.,
55 East 52nd Street, New York, NY 10055
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 04/30/2014
Date of reporting period: 07/31/2013
Item 1 Schedule of Investments
Schedule of Investments July 31, 2013 (Unaudited) |
BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Alabama 0.8% |
||||||||
County of Jefferson Alabama, RB, Series A, |
$ | 5,250 | $ | 5,234,355 | ||||
Alaska 1.0% |
||||||||
Northern Tobacco Securitization Corp., Refunding RB, Tobacco Settlement, Asset-Backed, |
||||||||
4.63%, 6/01/23 |
2,050 | 1,858,345 | ||||||
5.00%, 6/01/46 |
6,450 | 4,696,761 | ||||||
|
|
|||||||
6,555,106 | ||||||||
Arizona 5.2% |
||||||||
Maricopa County IDA Arizona, RB, Arizona Charter Schools Project, Series A, 6.75%, 7/01/29 |
2,900 | 2,430,403 | ||||||
Phoenix IDA Arizona, Refunding RB, America West Airlines, Inc. Project, AMT: |
||||||||
6.25%, 6/01/19 |
3,000 | 2,999,760 | ||||||
6.30%, 4/01/23 |
5,090 | 5,042,357 | ||||||
Salt Verde Financial Corp., RB, Senior: |
||||||||
5.00%, 12/01/32 |
7,365 | 7,159,885 | ||||||
5.00%, 12/01/37 |
14,190 | 13,573,161 | ||||||
Vistancia Community Facilities District Arizona, GO, 5.75%, 7/15/24 |
2,125 | 2,182,524 | ||||||
|
|
|||||||
33,388,090 | ||||||||
California 10.3% |
||||||||
California Health Facilities Financing Authority, RB: |
||||||||
St. Joseph Health System, |
4,425 | 4,869,713 | ||||||
Stanford Hospital Clinics, |
2,400 | 2,290,200 | ||||||
Sutter Health, Series B, 6.00%, 8/15/42 |
6,465 | 7,256,445 | ||||||
California Health Facilities Financing Authority, Refunding RB, Series A: |
||||||||
Catholic Healthcare West, 6.00%, 7/01/34 |
3,155 | 3,574,047 | ||||||
St. Joseph Health System, 5.00%, 7/01/33 |
2,560 | 2,563,866 | ||||||
California Pollution Control Financing Authority, RB: |
||||||||
Poseidon Resources (Channel Side) LP Desalination, AMT, 5.00%, 7/01/37 (a) |
3,465 | 2,980,662 | ||||||
California Pollution Control Financing Authority, RB (concluded): |
||||||||
Poseidon Resources (Channel Side) LP Desalination, AMT, |
3,855 | 3,207,668 | ||||||
San Diego County Water Authority Desalination Project Pipeline, |
2,510 | 2,292,985 | ||||||
California State Public Works Board, RB, Various Capital Projects, Sub-Series I-1, |
2,385 | 2,774,995 | ||||||
California Statewide Communities Development Authority, RB, John Muir Health, Series A, 5.13%, 7/01/39 |
4,375 | 4,353,038 | ||||||
California Statewide Communities Development Authority, Refunding RB, Episcopal Communities and Services: |
||||||||
5.00%, 5/15/42 |
845 | 780,788 | ||||||
5.00%, 5/15/47 |
735 | 674,245 | ||||||
City of Los Angeles Department of Airports, Refunding RB, International Airport, Series A, 5.25%, 5/15/39 |
1,605 | 1,696,341 | ||||||
San Diego Community College District, GO, Election of 2006, 5.00%, 8/01/43 |
2,190 | 2,273,833 | ||||||
State of California, GO: |
||||||||
(AMBAC), 5.00%, 4/01/31 |
10 | 10,188 | ||||||
Various Purpose, 6.00%, 3/01/33 |
5,085 | 5,800,866 | ||||||
Various Purpose, 6.50%, 4/01/33 |
14,075 | 16,471,973 | ||||||
Tobacco Securitization Authority of Southern California, Refunding RB, Tobacco Settlement Revenue, Asset-Backed, Senior Series A-1, 4.75%, 6/01/25 |
2,175 | 2,089,153 | ||||||
|
|
|||||||
65,961,006 | ||||||||
Colorado 3.0% |
||||||||
City & County of Denver Colorado Airport System, ARB, Series D, AMT (AMBAC), 7.75%, 11/15/13 |
1,435 | 1,464,030 | ||||||
Colorado Health Facilities Authority, Refunding RB, Evangelical Lutheran Good Samaritan Society Project, 5.00%, 12/01/42 |
3,580 | 3,365,092 |
BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 | 1 |
Schedule of Investments (continued) |
BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Colorado (concluded) |
||||||||
Colorado Housing & Finance Authority, Refunding RB, S/F Program, Senior Series D-2, AMT, 6.90%, 4/01/29 |
$ | 85 | $ | 86,113 | ||||
Colorado State Board of Governors, Refunding RB, State University Enterprise System, Series A, 5.00%, 3/01/43 |
2,405 | 2,461,253 | ||||||
Plaza Metropolitan District No. 1 Colorado, Tax Allocation Bonds, Public Improvement Fee, Tax Increment, 8.00%, 6/01/14 (b) |
6,850 | 7,356,968 | ||||||
University of Colorado, RB, Series A: |
||||||||
5.25%, 6/01/30 |
2,250 | 2,498,535 | ||||||
5.38%, 6/01/32 |
1,250 | 1,384,475 | ||||||
5.38%, 6/01/38 |
830 | 907,680 | ||||||
|
|
|||||||
19,524,146 | ||||||||
Connecticut 1.6% |
||||||||
Connecticut State Health & Educational Facility Authority, RB, Ascension Health Senior Credit, 5.00%, 11/15/40 |
2,770 | 2,792,077 | ||||||
Connecticut State Health & Educational Facility Authority, Refunding RB, Wesleyan University: |
||||||||
5.00%, 7/01/35 |
2,225 | 2,307,814 | ||||||
5.00%, 7/01/39 |
5,000 | 5,150,000 | ||||||
|
|
|||||||
10,249,891 | ||||||||
Delaware 1.6% |
||||||||
County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Project, 6.00%, 10/01/40 |
2,305 | 2,377,999 | ||||||
Delaware State EDA, RB, Exempt Facilities, Indian River Power, 5.38%, 10/01/45 |
8,275 | 7,926,871 | ||||||
|
|
|||||||
10,304,870 | ||||||||
District of Columbia 3.0% |
||||||||
District of Columbia, Tax Allocation Bonds, City Market at O Street Project, 5.13%, 6/01/41 |
4,440 | 4,371,713 | ||||||
Metropolitan Washington Airports Authority, Refunding RB: |
||||||||
CAB, Second Senior Lien, Series B (AGC), 5.70%, 10/01/31 (c) |
8,350 | 3,007,921 | ||||||
Metropolitan Washington Airports Authority, Refunding RB (concluded): |
||||||||
CAB, Second Senior Lien, Series B (AGC), 5.81%, 10/01/32 (c) |
15,000 | 5,004,450 | ||||||
CAB, Second Senior Lien, Series B (AGC), 5.84%, 10/01/33 (c) |
13,410 | 4,200,682 | ||||||
First Senior Lien, Series A, 5.25%, 10/01/44 |
2,425 | 2,475,998 | ||||||
|
|
|||||||
19,060,764 | ||||||||
Florida 7.8% |
||||||||
Broward County Water & Sewer Utility Revenue, Refunding RB, Series A, 5.25%, 10/01/34 |
2,155 | 2,297,704 | ||||||
City of Clearwater Florida Water & Sewer Revenue, RB, Series A, 5.25%, 12/01/39 |
6,900 | 7,201,323 | ||||||
County of Miami-Dade Florida, Refunding ARB, Miami International Airport, Series A-1, 5.38%, 10/01/41 |
7,530 | 7,700,027 | ||||||
Hillsborough County IDA, RB, National Gypsum Co. AMT: |
||||||||
Series A, 7.13%, 4/01/30 |
7,500 | 7,499,625 | ||||||
Series B, 7.13%, 4/01/30 |
5,000 | 4,999,700 | ||||||
Mid-Bay Bridge Authority, RB, Series A, 7.25%, 10/01/40 |
4,615 | 5,360,923 | ||||||
Midtown Miami Community Development District, Special Assessment Bonds, Series B, |
4,980 | 5,007,539 | ||||||
Santa Rosa Bay Bridge Authority, RB, |
4,309 | 1,723,450 | ||||||
Tampa-Hillsborough County Expressway Authority, Refunding RB: |
||||||||
Series A, 5.00%, 7/01/37 |
2,800 | 2,805,880 | ||||||
Series B, 5.00%, 7/01/42 |
5,120 | 5,123,430 | ||||||
|
|
|||||||
49,719,601 | ||||||||
Georgia 1.4% |
||||||||
DeKalb Private Hospital Authority, Refunding RB, Childrens Healthcare, 5.25%, 11/15/39 |
1,700 | 1,727,149 |
2 | BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 |
Schedule of Investments (continued) |
BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Georgia (concluded) |
||||||||
Metropolitan Atlanta Rapid Transit Authority, RB, Sales Tax Revenue, Third Indenture, Series A, 5.00%, 7/01/39 |
$ | 6,945 | $ | 7,118,208 | ||||
|
|
|||||||
8,845,357 | ||||||||
Hawaii 0.5% |
||||||||
State of Hawaii Harbor System, RB, Series A, |
2,760 | 2,930,596 | ||||||
Idaho 1.6% |
||||||||
Power County Industrial Development Corp., RB, FMC Corp. Project, AMT, 6.45%, 8/01/32 |
10,000 | 10,008,500 | ||||||
Illinois 12.0% |
||||||||
Bolingbrook Special Service Area No. 1, Special Tax Bonds, Forest City Project, 5.90%, 3/01/27 |
1,000 | 850,670 | ||||||
Chicago Illinois Board of Education, GO, Unlimited Tax, Series A, 5.50%, 12/01/39 |
4,280 | 4,415,248 | ||||||
Chicago Illinois Transit Authority, RB, Sales Tax Receipts Revenue, 5.25%, 12/01/40 |
2,130 | 2,170,129 | ||||||
City of Chicago Illinois, GARB, OHare International Airport Third Lien: |
||||||||
Series A, 5.63%, 1/01/35 |
4,200 | 4,392,570 | ||||||
Series A, 5.75%, 1/01/39 |
3,500 | 3,641,050 | ||||||
Series C, 6.50%, 1/01/41 |
11,920 | 14,033,058 | ||||||
City of Chicago Illinois, GO, Project, Series A: |
||||||||
5.00%, 1/01/33 |
1,625 | 1,589,380 | ||||||
5.00%, 1/01/34 |
7,585 | 7,385,894 | ||||||
City of Chicago Illinois, Refunding RB, Sales Tax Revenue, Series A, 5.25%, 1/01/38 |
1,660 | 1,729,820 | ||||||
Illinois Finance Authority, Refunding RB: |
||||||||
Ascension Health, Series A, 5.00%, 11/15/37 |
1,970 | 1,971,182 | ||||||
Ascension Health, Series A, 5.00%, 11/15/42 |
3,575 | 3,515,333 | ||||||
Central Dupage Health, Series B, |
3,235 | 3,363,365 | ||||||
Illinois State Toll Highway Authority, RB, Series A, 5.00%, 1/01/38 |
4,720 | 4,776,357 | ||||||
Metropolitan Pier & Exposition Authority, Refunding RB, McCormick Place Expansion Project: |
||||||||
CAB, Series B (AGM), 6.18%, 6/15/46 (c) |
11,405 | 1,542,298 | ||||||
CAB, Series B (AGM), 6.19%, 6/15/47 (c) |
27,225 | 3,452,947 | ||||||
Series B (AGM), 5.00%, 6/15/50 |
6,405 | 6,334,929 | ||||||
Series B-2, 5.00%, 6/15/50 |
5,085 | 4,959,299 | ||||||
Railsplitter Tobacco Settlement Authority, RB: |
||||||||
5.50%, 6/01/23 |
2,730 | 3,034,777 | ||||||
6.00%, 6/01/28 |
2,335 | 2,547,812 | ||||||
State of Illinois, RB, Build Illinois, Series B, |
1,275 | 1,332,834 | ||||||
|
|
|||||||
77,038,952 | ||||||||
Indiana 4.8% |
||||||||
Carmel Redevelopment Authority, Refunding RB, Multipurpose, Series A: |
||||||||
4.00%, 8/01/35 |
2,305 | 2,073,532 | ||||||
4.00%, 2/01/38 |
3,700 | 3,271,355 | ||||||
Indiana Finance Authority, RB: |
||||||||
First Lien, CWA Authority Project, Series A, 5.25%, 10/01/38 |
3,200 | 3,280,896 | ||||||
Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series A, AMT, 5.00%, 7/01/48 |
3,015 | 2,663,632 | ||||||
Private Activity, Ohio River Bridges East End Crossing Project, Series A, AMT, |
910 | 814,241 | ||||||
Sisters of St. Francis Health, 5.25%, 11/01/39 |
1,690 | 1,720,471 | ||||||
Indiana Finance Authority, Refunding RB, Series A: |
||||||||
Community Health Network Project, |
3,840 | 3,665,203 | ||||||
Parkview Health System, 5.75%, 5/01/31 |
6,645 | 7,037,055 | ||||||
Indiana Municipal Power Agency, RB, Series B, 6.00%, 1/01/39 |
2,230 | 2,505,182 | ||||||
Indianapolis Local Public Improvement Bond Bank, RB, Series A: |
||||||||
5.00%, 1/15/36 |
805 | 820,786 |
BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 | 3 |
Schedule of Investments (continued) |
BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Indiana (concluded) |
||||||||
Indianapolis Local Public Improvement Bond Bank, RB, Series A (concluded): |
||||||||
5.00%, 1/15/40 |
$ | 2,580 | $ | 2,605,103 | ||||
|
|
|||||||
30,457,456 | ||||||||
Iowa 2.0% |
||||||||
Iowa Finance Authority, RB, Alcoa, Inc. Project, 4.75%, 8/01/42 |
1,830 | 1,483,233 | ||||||
Iowa Finance Authority, Refunding RB, Iowa Fertilizer Co. Project: |
||||||||
5.00%, 12/01/19 |
1,950 | 1,906,437 | ||||||
5.50%, 12/01/22 |
4,765 | 4,706,486 | ||||||
5.25%, 12/01/25 |
940 | 889,278 | ||||||
Iowa Student Loan Liquidity Corp., Refunding RB, Senior Series A-1, AMT, 5.15%, 12/01/22 |
3,805 | 4,146,993 | ||||||
|
|
|||||||
13,132,427 | ||||||||
Kansas 0.7% |
||||||||
Kansas Development Finance Authority, Refunding RB, Adventist Health, 5.75%, 11/15/38 |
4,380 | 4,821,416 | ||||||
Louisiana 4.5% |
||||||||
East Baton Rouge Sewerage Commission, RB, Series A, 5.25%, 2/01/39 |
1,610 | 1,702,784 | ||||||
Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Westlake Chemical Corp. Projects, 6.75%, 11/01/32 |
9,000 | 9,449,730 | ||||||
New Orleans Aviation Board, RB, Passenger Facility Charge, Series A, 5.25%, 1/01/41 |
1,260 | 1,267,434 | ||||||
State of Louisiana Gasoline & Fuels Tax Revenue, RB, Second Lien, Series B, 5.00%, 5/01/45 |
6,610 | 6,681,190 | ||||||
Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, Series A: |
||||||||
5.50%, 5/15/30 |
2,055 | 2,124,110 | ||||||
5.25%, 5/15/31 |
1,750 | 1,754,288 | ||||||
5.25%, 5/15/32 |
2,240 | 2,241,366 | ||||||
5.25%, 5/15/33 |
2,430 | 2,417,971 | ||||||
5.25%, 5/15/35 |
1,025 | 1,004,070 | ||||||
|
|
|||||||
28,642,943 | ||||||||
Maine 0.8% |
||||||||
Maine Health & Higher Educational Facilities Authority, RB, Series A, 5.00%, 7/01/39 |
3,140 | 3,179,941 | ||||||
Maine Turnpike Authority, RB, Series A, 5.00%, 7/01/42 |
1,790 | 1,844,470 | ||||||
|
|
|||||||
5,024,411 | ||||||||
Maryland 2.1% |
||||||||
County of Prince Georges Maryland, SO, National Harbor Project, 5.20%, 7/01/34 |
1,500 | 1,473,855 | ||||||
Maryland EDC, RB, Transportation Facilities Project, Series A, 5.75%, 6/01/35 |
880 | 941,098 | ||||||
Maryland EDC, Refunding RB, CNX Marine Terminals, Inc., 5.75%, 9/01/25 |
1,690 | 1,763,211 | ||||||
Maryland Health & Higher Educational Facilities Authority, RB, Ascension Health Alliance, Series B, 5.00%, 11/15/51 (f) |
8,470 | 8,469,323 | ||||||
Maryland Industrial Development Financing Authority, RB, Our Lady Of Good Counsel School, Series A, 6.00%, 5/01/35 |
500 | 509,070 | ||||||
|
|
|||||||
13,156,557 | ||||||||
Massachusetts 2.7% |
||||||||
Massachusetts Bay Transportation Authority, Refunding RB, Senior Series A-1, 5.25%, 7/01/29 |
3,250 | 3,611,042 | ||||||
Massachusetts Development Finance Agency, RB, Wellesley College, Series J, 5.00%, 7/01/42 |
3,680 | 3,822,011 | ||||||
Massachusetts Development Finance Agency, Refunding RB, Seven Hills Foundation & Affiliates (Radian), 5.00%, 9/01/35 |
3,500 | 3,028,480 | ||||||
Massachusetts Health & Educational Facilities Authority, Refunding RB, Partners Healthcare, Series J1, 5.00%, 7/01/39 |
3,640 | 3,649,100 | ||||||
Massachusetts School Building Authority, RB, Dedicated Sales Tax Revenue, Senior Series A, 5.00%, 5/15/43 |
2,880 | 2,992,810 | ||||||
|
|
|||||||
17,103,443 |
4 | BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 |
Schedule of Investments (continued) | BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Michigan 5.0% |
||||||||
City of Detroit Michigan, Refunding RB, Sewage Disposal System Revenue, Senior Lien, Series B (AGM), 7.50%, 7/01/33 |
$ | 1,835 | $ | 1,970,643 | ||||
City of Detroit Michigan Sewage Disposal System, Refunding RB, Senior Lien, Series A: |
||||||||
5.00%, 7/01/32 |
3,175 | 2,871,883 | ||||||
5.25%, 7/01/39 |
2,745 | 2,506,048 | ||||||
City of Detroit Michigan Water Supply System, RB, Senior Lien, Series A, 5.25%, 7/01/41 |
6,250 | 5,704,875 | ||||||
Kalamazoo Hospital Finance Authority, Refunding RB, Bronson Methodist Hospital, 5.50%, 5/15/36 |
2,795 | 2,850,201 | ||||||
Michigan State Hospital Finance Authority, Refunding RB, Henry Ford Health, 5.75%, 11/15/39 |
6,085 | 6,255,441 | ||||||
Royal Oak Hospital Finance Authority, Refunding RB, William Beaumont Hospital: |
||||||||
8.00%, 9/01/29 |
2,000 | 2,400,920 | ||||||
8.25%, 9/01/39 |
6,365 | 7,684,592 | ||||||
|
|
|||||||
32,244,603 | ||||||||
Minnesota 0.1% |
||||||||
City of Minneapolis Minnesota, HRB, Gaar Scott Loft Project, AMT, 5.95%, 5/01/30 (g) |
815 | 817,502 | ||||||
Mississippi 0.0% |
||||||||
University of Southern Mississippi, RB, Campus Facilities Improvements Project, 5.38%, 9/01/36 |
280 | 293,205 | ||||||
Missouri 0.1% |
||||||||
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Refunding RB, Combination Lien, Series A, 5.00%, 10/01/44 (f) |
510 | 524,316 | ||||||
Nebraska 0.4% |
||||||||
Central Plains Energy Project Nebraska, RB, |
||||||||
5.25%, 9/01/37 |
1,670 | 1,672,305 | ||||||
5.00%, 9/01/42 |
925 | 886,677 | ||||||
|
|
|||||||
2,558,982 | ||||||||
New Jersey 3.8% |
||||||||
New Jersey EDA, RB: |
||||||||
Continental Airlines, Inc. Project, AMT, 5.25%, 9/15/29 |
975 | 914,404 | ||||||
First Mortgage, Lions Gate Project, Series A, 5.75%, 1/01/25 |
710 | 704,980 | ||||||
First Mortgage, Lions Gate Project, Series A, 5.88%, 1/01/37 |
230 | 214,774 | ||||||
Kapkowski Road Landfill Project, Series B, AMT, 6.50%, 4/01/31 |
2,500 | 2,694,475 | ||||||
New Jersey State Turnpike Authority, RB, Series A: |
||||||||
5.00%, 1/01/38 |
1,355 | 1,382,303 | ||||||
5.00%, 1/01/43 |
1,835 | 1,863,956 | ||||||
New Jersey Transportation Trust Fund Authority, RB: |
||||||||
CAB, Transportation System, Series C (AMBAC), 5.88%, 12/15/35 (c) |
8,110 | 2,217,923 | ||||||
Series A, 5.50%, 6/15/41 |
3,630 | 3,816,582 | ||||||
Series B, 5.25%, 6/15/36 |
4,990 | 5,181,866 | ||||||
Port Authority of New York & New Jersey, RB, Special Project, JFK International Air Terminal LLC Project, Series 8, AMT (NPFGC), 6.00%, 12/01/42 |
1,485 | 1,642,247 | ||||||
Rutgers The State University of New Jersey, Refunding RB, Series L, 5.00%, 5/01/38 |
1,025 | 1,064,196 | ||||||
Rutgers The State University of New Jersey, Refunding RB, Series L, 5.00%, 5/01/43 |
1,065 | 1,097,248 | ||||||
Tobacco Settlement Financing Corp. New Jersey, Refunding RB, Series 1A, 4.63%, 6/01/26 |
1,490 | 1,284,261 | ||||||
|
|
|||||||
24,079,215 | ||||||||
New York 5.4% |
||||||||
Dutchess County IDA New York, Refunding RB, St. Francis Hospital, Series A, 7.50%, 3/01/29 |
2,000 | 2,028,360 | ||||||
Metropolitan Transportation Authority, Refunding RB: |
||||||||
Series B, 5.00%, 11/15/34 |
4,910 | 4,991,702 | ||||||
Series D, 5.25%, 11/15/40 |
2,465 | 2,515,656 | ||||||
New York City IDA, RB, British Airways Plc Project, AMT, 7.63%, 12/01/32 |
1,250 | 1,258,975 |
BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 | 5 |
Schedule of Investments (continued) |
BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
New York (concluded) |
||||||||
New York City Transitional Finance Authority, RB, Future Tax Secured, Sub-Series E-1, 5.00%, 2/01/42 |
$ | 4,985 | $ | 5,141,678 | ||||
New York Liberty Development Corp., Refunding RB, Second Priority, Bank of America Tower at One Bryant Park Project, 6.38%, 7/15/49 |
2,480 | 2,696,008 | ||||||
New York State Dormitory Authority, RB, Series F: |
||||||||
5.00%, 3/15/15 (b) |
75 | 80,611 | ||||||
5.00%, 3/15/35 |
6,755 | 6,925,969 | ||||||
New York State Thruway Authority, Refunding RB, |
3,590 | 3,649,020 | ||||||
Oneida County Industrial Development Agency, RB, Hamilton College Civic Facility, 5.00%, 9/15/26 |
1,990 | 2,107,768 | ||||||
Port Authority of New York & New Jersey, RB, Special Project, JFK International Air Terminal LLC Project, Series 8, 6.00%, 12/01/36 |
2,625 | 2,911,650 | ||||||
|
|
|||||||
34,307,397 | ||||||||
North Carolina 2.3% |
||||||||
North Carolina Capital Facilities Finance Agency, Refunding RB, Duke Energy Carolinas Project, Series B, 4.63%, 11/01/40 |
7,350 | 7,111,713 | ||||||
North Carolina Medical Care Commission, RB, Duke University Health System, Series A, 5.00%, 6/01/42 |
2,805 | 2,830,217 | ||||||
North Carolina Medical Care Commission, Refunding RB, First Mortgage, Presbyterian Homes, |
5,000 | 4,994,700 | ||||||
|
|
|||||||
14,936,630 | ||||||||
Ohio 0.9% |
||||||||
County of Hamilton Ohio, RB, Christ Hospital Project, 5.00%, 6/01/42 |
3,205 | 3,072,633 | ||||||
County of Montgomery Ohio, Refunding RB, Catholic Health, Series A, 5.00%, 5/01/39 |
2,840 | 2,795,327 | ||||||
|
|
|||||||
5,867,960 | ||||||||
Oregon 0.1% |
||||||||
City of Tigard Washington County Oregon, Refunding RB, Water System, 5.00%, 8/01/37 |
510 | 531,002 | ||||||
Pennsylvania 2.1% |
||||||||
Allentown Neighborhood Improvement Zone Development Authority, Refunding RB, |
5,250 | 4,865,438 | ||||||
Pennsylvania Economic Development Financing Authority, RB: |
||||||||
Aqua Pennsylvania, Inc. Project, Series B, 5.00%, 11/15/40 |
3,805 | 3,814,893 | ||||||
National Gypsum Co., Series A, AMT, 6.25%, 11/01/27 |
2,000 | 1,893,380 | ||||||
Pennsylvania Higher Educational Facilities Authority, RB, Shippensburg University Student Services, 5.00%, 10/01/44 |
1,890 | 1,736,305 | ||||||
Philadelphia Authority for Industrial Development, RB, Commercial Development, AMT, |
1,265 | 1,265,898 | ||||||
|
|
|||||||
13,575,914 | ||||||||
Puerto Rico 2.9% |
||||||||
Puerto Rico Sales Tax Financing Corp., Refunding RB: |
||||||||
CAB, First Sub-Series C, 6.69%, 8/01/38 (c) |
23,695 | 4,572,898 | ||||||
CAB, Series A (AMBAC), |
14,900 | 1,553,921 | ||||||
CAB, Series C, 6.54%, 8/01/39 (c) |
22,915 | 4,300,000 | ||||||
First Sub-Series C, 5.25%, 8/01/41 |
9,000 | 8,078,760 | ||||||
|
|
|||||||
18,505,579 | ||||||||
Rhode Island 0.5% |
||||||||
Central Falls Detention Facility Corp., Refunding RB, 7.25%, 7/15/35 |
4,190 | 3,266,482 | ||||||
South Carolina 1.1% |
||||||||
South Carolina State Ports Authority, RB, |
6,695 | 6,894,109 | ||||||
Tennessee 1.2% |
||||||||
Hardeman County Correctional Facilities Corp., RB, 7.75%, 8/01/17 |
2,030 | 2,006,472 |
6 | BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 |
Schedule of Investments (continued) |
BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Tennessee (concluded) |
||||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facility, Refunding RB, Vanderbilt University, Series D, 3.25%, 10/01/37 |
$ | 6,520 | $ | 5,294,827 | ||||
Rutherford County Health & Educational Facilities Board, RB, Ascension Health, Series C, 5.00%, 11/15/47 |
430 | 437,559 | ||||||
|
|
|||||||
7,738,858 | ||||||||
Texas 13.8% |
||||||||
Central Texas Regional Mobility Authority, Refunding RB: |
||||||||
Senior Lien, 6.25%, 1/01/46 |
4,365 | 4,679,891 | ||||||
Senior Lien, Series A, 5.00%, 1/01/33 |
205 | 200,260 | ||||||
Sub-Lien, 5.00%, 1/01/33 |
725 | 678,752 | ||||||
Sub-Lien, 5.00%, 1/01/42 |
645 | 586,847 | ||||||
City of Dallas Texas Waterworks & Sewer System, Refunding RB, 5.00%, 10/01/35 |
3,060 | 3,192,651 | ||||||
City of Houston Texas, RB, Special Facilities, Continental Airlines, Inc., Series E, AMT: |
||||||||
7.38%, 7/01/22 |
3,500 | 3,500,035 | ||||||
7.00%, 7/01/29 |
3,000 | 3,000,870 | ||||||
City of Houston Texas Airport System, Refunding RB, Senior Lien, Series A, 5.50%, 7/01/39 |
3,100 | 3,371,188 | ||||||
City of San Antonio Texas, RB, Electric & Gas Systems, Junior Lien, 5.00%, 2/01/43 |
5,070 | 5,212,873 | ||||||
Dallas/Fort Worth International Airport, Refunding RB, Series E, AMT, 5.00%, 11/01/35 |
3,665 | 3,508,175 | ||||||
Fort Bend County Industrial Development Corp., RB, NRG Energy, Inc. Project, Series B, 4.75%, 11/01/42 |
2,995 | 2,588,219 | ||||||
La Vernia Higher Education Finance Corp., RB, Kipp, Inc., Series A, 6.38%, 8/15/44 |
1,000 | 1,059,140 | ||||||
Matagorda County Navigation District No. 1 Texas, Refunding RB, Central Power & Light Co. Project, Series A, 6.30%, 11/01/29 |
4,320 | 4,750,618 | ||||||
North Texas Tollway Authority, RB, CAB, Special Project System, Series B, 5.98%, 9/01/37 (c) |
4,110 | 994,825 | ||||||
North Texas Tollway Authority, Refunding RB, Toll, Second Tier, Series F, 6.13%, 1/01/31 |
12,140 | 12,970,740 | ||||||
San Antonio Energy Acquisition Public Facility Corp., RB, Gas Supply, 5.50%, 8/01/25 |
6,365 | 6,902,652 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, Scott & White Healthcare Project, Series A, 5.00%, 8/15/43 |
730 | 712,246 | ||||||
Texas Municipal Gas Acquisition & Supply Corp. III, RB, Gas Supply, 5.00%, 12/15/29 |
1,955 | 1,901,628 | ||||||
Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien: |
||||||||
LBJ Infrastructure Group LLC, LBJ Freeway Managed Lanes Project, 7.00%, 6/30/40 |
7,000 | 7,949,830 | ||||||
NTE Mobility Partners LLC, North Tarrant Express Managed Lanes Project, |
6,655 | 7,456,329 | ||||||
Texas State Turnpike Authority, RB, CAB (AMBAC), 6.07%, 8/15/35 (c) |
15,000 | 4,012,500 | ||||||
Texas Transportation Commission, Refunding RB, Central Texas Turnpike System, First Tier, |
2,445 | 2,341,919 | ||||||
University of Texas System, Refunding RB, Financing System, Series B, 5.00%, 8/15/43 |
6,240 | 6,554,621 | ||||||
|
|
|||||||
88,126,809 | ||||||||
Utah 0.9% |
||||||||
County of Utah, RB, IHC Health Services, Inc., |
4,090 | 4,187,751 | ||||||
University of Utah, RB, General, Series A, |
1,280 | 1,324,826 | ||||||
|
|
|||||||
5,512,577 | ||||||||
Virginia 2.1% |
||||||||
James City County EDA, Refunding RB, First Mortgage, Williamsburg Lodge, Series A: |
||||||||
5.35%, 9/01/26 |
1,500 | 1,446,885 | ||||||
5.50%, 9/01/34 |
2,000 | 1,843,020 |
BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 | 7 |
Schedule of Investments (continued) |
BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Virginia (concluded) |
||||||||
Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings OPCO, LLC Project, AMT: |
||||||||
5.25%, 1/01/32 |
$ | 3,270 | $ | 3,078,509 | ||||
6.00%, 1/01/37 |
5,905 | 5,949,228 | ||||||
Winchester Industrial Development Authority, RB, Westminster-Canterbury, Series A, |
1,000 | 1,002,250 | ||||||
|
|
|||||||
13,319,892 | ||||||||
Washington 0.6% |
||||||||
Vancouver Housing Authority, HRB, Teal Pointe Apartments Project, AMT: |
||||||||
6.00%, 9/01/22 |
945 | 930,674 | ||||||
6.20%, 9/01/32 |
1,250 | 1,143,025 | ||||||
Washington Health Care Facilities Authority, Refunding RB, Providence Health & Services, Series A, 5.00%, 10/01/42 |
2,055 | 2,017,722 | ||||||
|
|
|||||||
4,091,421 | ||||||||
Wisconsin 4.3% |
||||||||
State of Wisconsin, Refunding RB, Series A, |
14,300 | 16,268,967 | ||||||
Wisconsin Health & Educational Facilities Authority, RB, Ascension Health Senior Credit Group, 5.00%, 11/15/33 |
4,970 | 5,050,017 | ||||||
WPPI Energy, Refunding RB, Power Supply System, Series A: |
||||||||
5.00%, 7/01/29 |
765 | 799,035 | ||||||
5.00%, 7/01/30 |
970 | 1,006,840 | ||||||
5.00%, 7/01/31 |
2,105 | 2,174,760 | ||||||
5.00%, 7/01/37 |
2,560 | 2,571,827 | ||||||
|
|
|||||||
27,871,446 | ||||||||
Wyoming 1.1% |
||||||||
Sweetwater County Wyoming, Refunding RB, Idaho Power Co. Project, 5.25%, 7/15/26 |
6,195 | 6,603,994 | ||||||
Wyoming Municipal Power Agency, Inc., RB, |
595 | 599,748 | ||||||
|
|
|||||||
7,203,742 | ||||||||
Total Municipal Bonds 116.1% | 743,427,528 | |||||||
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (h) |
||||||||
Alabama 0.7% |
||||||||
Alabama Special Care Facilities Financing Authority-Birmingham, Refunding RB, Ascension Health Senior Credit Group, Series C-2, 5.00%, 11/15/36 |
4,538 | 4,540,524 | ||||||
Arizona 0.8% |
||||||||
Salt River Project Agricultural Improvement & Power District, RB, Series A, 5.00%, 1/01/38 |
4,910 | 5,042,602 | ||||||
California 8.1% |
||||||||
Bay Area Toll Authority, Refunding RB, San Francisco Bay Area, Series F-1, 5.63%, 4/01/44 |
6,581 | 7,062,959 | ||||||
California Educational Facilities Authority, RB, University of Southern California, Series B, |
5,310 | 5,671,823 | ||||||
City of Los Angeles California Department of Airports, Refunding RB, Los Angeles International Airport, Senior Series A, 5.00%, 5/15/40 |
11,960 | 12,137,815 | ||||||
Los Angeles Community College District California, GO, Election of 2001, Series A (AGM), |
4,650 | 4,841,906 | ||||||
San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/33 |
2,154 | 2,383,353 | ||||||
San Francisco City & County Public Utilities Commission, RB, Series B, 5.00%, 11/01/39 |
19,080 | 19,415,427 | ||||||
|
|
|||||||
51,513,283 | ||||||||
Colorado 2.6% |
||||||||
Colorado Health Facilities Authority, RB, Catholic Health (AGM): |
||||||||
Series C-3, 5.10%, 10/01/41 |
7,490 | 7,456,145 | ||||||
Series C-7, 5.00%, 9/01/36 |
4,800 | 4,773,792 | ||||||
Colorado Health Facilities Authority, Refunding RB, Catholic Health Initiatives, Series A, |
4,299 | 4,633,915 | ||||||
|
|
|||||||
16,863,852 | ||||||||
Connecticut 3.0% |
||||||||
Connecticut State Health & Educational Facility Authority, RB, Yale University: |
||||||||
Series T-1, 4.70%, 7/01/29 |
9,117 | 9,372,994 |
8 | BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 |
Schedule of Investments (continued) |
BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (h) |
Par (000) |
Value | ||||||
Connecticut (concluded) |
||||||||
Connecticut State Health & Educational Facility Authority, RB, Yale University (concluded): |
||||||||
Series X-3, 4.85%, 7/01/37 |
$ | 9,266 | $ | 9,585,829 | ||||
|
|
|||||||
18,958,823 | ||||||||
Florida 1.8% |
||||||||
Miami-Dade County Florida, RB, Water & Sewer System, 5.00%, 10/01/34 |
11,448 | 11,795,057 | ||||||
Georgia 1.0% |
||||||||
Private Colleges & Universities Authority, Refunding RB, Emory University, Series C, 5.00%, 9/01/38 |
6,398 | 6,526,691 | ||||||
Illinois 0.9% |
||||||||
City of Chicago Illinois, Refunding RB, Second Lien, 5.00%, 11/01/42 |
6,030 | 5,938,404 | ||||||
Massachusetts 1.5% |
||||||||
Massachusetts School Building Authority, RB, Dedicated Sales Tax Revenue, Senior Series B, 5.00%, 10/15/41 |
9,200 | 9,524,852 | ||||||
New Hampshire 0.7% |
||||||||
New Hampshire Health & Education Facilities Authority, RB, Dartmouth
College, |
4,048 | 4,347,149 | ||||||
New York 6.8% |
||||||||
Hudson New York Yards Infrastructure Corp., RB, Fiscal 2012, Senior Series A, 5.75%, 2/15/47 (i) |
3,260 | 3,460,867 | ||||||
New York City Municipal Water Finance Authority, Refunding RB, Series FF-2, 5.50%, 6/15/40 |
3,194 | 3,478,597 | ||||||
New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Construction, |
21,629 | 22,474,096 | ||||||
New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.75%, 11/15/51 (i) |
13,080 | 14,162,108 | ||||||
|
|
|||||||
43,575,668 | ||||||||
North Carolina 3.5% |
||||||||
North Carolina Capital Facilities Finance Agency, Refunding RB: |
||||||||
Duke University Project, Series A, |
18,897 | 19,125,430 | ||||||
Wake Forest University, 5.00%, 1/01/38 |
3,120 | 3,244,301 | ||||||
|
|
|||||||
22,369,731 | ||||||||
Ohio 4.7% |
||||||||
State of Ohio, Refunding RB, Cleveland Clinic Health System Obligated Group, Series A, 5.50%, 1/01/39 |
27,896 | 30,014,894 | ||||||
South Carolina 3.0% |
||||||||
Charleston Educational Excellence Finance Corp., RB, Charleston County School (AGC) (b): |
||||||||
5.25%, 12/1/15 |
7,795 | 8,641,537 | ||||||
5.25%, 12/1/15 |
6,920 | 7,671,512 | ||||||
5.25%, 12/1/15 |
2,510 | 2,782,586 | ||||||
|
|
|||||||
19,095,635 | ||||||||
Tennessee 1.8% |
||||||||
Shelby County Health Educational & Housing Facilities Board, Refunding RB, St. Judes Childrens Research Hospital, 5.00%, 7/01/31 |
11,240 | 11,333,517 | ||||||
Texas 1.1% |
||||||||
Harris County Texas Metropolitan Transit Authority, Refunding RB, Sales & Tax Bonds, Series A, 5.00%, 11/01/41 |
6,920 | 7,041,169 | ||||||
Utah 1.1% |
||||||||
City of Riverton Utah Hospital, RB, IHC Health Services, Inc., 5.00%, 8/15/41 |
7,303 | 7,303,076 | ||||||
Virginia 3.7% |
||||||||
County of Fairfax Virginia IDA, Refunding RB, Health Care, Inova Health System, Series A, |
6,266 | 6,637,021 | ||||||
University of Virginia, Refunding RB, General, |
10,618 | 11,166,484 | ||||||
Virginia Small Business Financing Authority, Refunding RB, Sentara Healthcare, 5.00%, 11/01/40 |
6,075 | 6,105,496 | ||||||
|
|
|||||||
23,909,001 |
BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 | 9 |
Schedule of Investments (continued) |
BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (h) |
Par (000) |
Value | ||||||
Washington 0.9% |
||||||||
Central Puget Sound Regional Transit Authority, RB, Series A (AGM), 5.00%, 11/01/32 |
$ | 5,384 | $ | 5,614,555 | ||||
Wisconsin 1.8% |
||||||||
Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert & Community Health, Inc., 5.25%, 4/01/39 (i) |
11,458 | 11,704,138 | ||||||
Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts 49.5% |
|
317,012,621 | ||||||
Total Long-Term Investments (Cost $1,047,844,503) 165.6% |
|
1,060,440,149 | ||||||
Short-Term Securities |
Shares | |||||||
FFI Institutional Tax-Exempt Fund, 0.03% (j)(k) |
7,713,862 | 7,713,862 | ||||||
Total Short-Term Securities (Cost $7,713,862) 1.2% |
|
7,713,862 | ||||||
Total Investments (Cost $1,055,558,365*) 166.8% |
|
1,068,154,011 | ||||||
Other Assets Less Liabilities 0.4% | 2,407,367 | |||||||
Liability for TOB Trust Certificates, Including Interest |
|
(178,936,831 | ) | |||||
VRDP Shares, at Liquidation Value (39.3%) |
|
(251,400,000 | ) | |||||
|
|
|||||||
Net Assets Applicable to Common Shares 100.0% |
|
$ | 640,224,547 | |||||
|
|
* | As of July 31, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows: |
Tax cost |
$ | 878,758,581 | ||
|
|
|||
Gross unrealized appreciation |
$ | 41,282,318 | ||
Gross unrealized depreciation |
(30,777,663 | ) | ||
|
|
|||
Net unrealized appreciation |
$ | 10,504,655 | ||
|
|
Notes to Schedule of Investments |
(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) | US 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. |
(c) | Represents a zero-coupon bond. Rate shown reflects the current yield as of report date. |
(d) | Issuer filed for bankruptcy and/or is in default of principal and/or interest payments. |
(e) | Non-income producing security. |
(f) | When-issued security. Unsettled when-issued transactions were as follows: |
Counterparty | Value | Unrealized Appreciation |
||||||
Royal Bank of Canada |
$ | 8,993,639 | $ | 93,198 |
(g) | Variable rate security. Rate shown is as of report date. |
(h) | Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction. |
(i) | All or a portion of security is subject to a recourse agreement, which may require the Fund to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire from October 1, 2016 to November 15, 2019 is $23,449,980. |
10 | BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 |
Schedule of Investments (continued) |
BlackRock MuniYield Fund, Inc. (MYD) |
(j) | Investments in issuers considered to be an affiliate of the Fund during the period ended July 31, 2013, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: |
Affiliate |
Shares Held 2013 |
Net Activity |
Shares Held at July 31, 2013 |
Income | ||||||||||||
FFI Institutional Tax-Exempt Fund |
6,265,241 | 1,448,621 | 7,713,862 | $ | 889 |
(k) | Represents the current yield as of report date. |
Portfolio Abbreviations |
To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list: | AGC | Assured Guarantee Corp. | ||||||
AGM | Assured Guaranty Municipal Corp. | |||||||
AMBAC | American Municipal Bond Assurance Corp. | |||||||
AMT | Alternative Minimum Tax (subject to) | |||||||
ARB | Airport Revenue Bonds | |||||||
CAB | Capital Appreciation Bonds | |||||||
EDA | Economic Development Authority | |||||||
EDC | Economic Development Corp. | |||||||
GARB | General Airport Revenue Bonds | |||||||
GO | General Obligation Bonds | |||||||
HRB | Housing Revenue Bonds | |||||||
IDA | Industrial Development Authority | |||||||
NPFGC | National Public Finance Guarantee Corp. | |||||||
Radian | Radian Guaranty, Inc. | |||||||
RB | Revenue Bonds | |||||||
S/F | Single-Family | |||||||
SO | Special Obligation |
BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 | 11 |
Schedule of Investments (concluded) |
BlackRock MuniYield Fund, Inc. (MYD) |
| Fair Value MeasurementsVarious inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a disclosure 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 Funds 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.
Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Funds policy, transfers between different levels of the fair value disclosure 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 investment and is not necessarily an indication of the risks associated with investing in those securities. For information about the Funds policy regarding valuation of investments, please refer to the Funds most recent financial statements as contained in its annual report.
The following table summarizes the Funds investments categorized in the disclosure hierarchy as of July 31, 2013:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: |
||||||||||||||||
Investments: |
||||||||||||||||
Long-Term Investments 1 |
| $ | 1,060,440,149 | | $ | 1,060,440,149 | ||||||||||
Short-Term Securities |
$ | 7,713,862 | | | 7,713,862 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 7,713,862 | $ | 1,060,440,149 | | $ | 1,068,154,011 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
1 See above Schedule of Investments for values in each state or political subdivision. |
|
|||||||||||||||
Certain of the Funds liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of July 31, 2013, such liabilities are categorized within the disclosure hierarchy as follows:
|
| |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Liabilities: |
||||||||||||||||
Bank overdraft |
| $ | (14,135 | ) | | $ | (14,135 | ) | ||||||||
TOB trust certificates |
| (178,890,775 | ) | | (178,890,775 | ) | ||||||||||
VRDP Shares |
| (251,400,000 | ) | | (251,400,000 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
| $ | (430,304,910 | ) | | $ | (430,304,910 | ) | ||||||||
|
|
|
|
|
|
|
|
There were no transfers between levels during the period ended July 31, 2013.
12 | BLACKROCK MUNIYIELD FUND, INC. | JULY 31, 2013 |
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.
BlackRock MuniYield Fund, Inc.
By: | /s/ John M. Perlowski | |
John M. Perlowski | ||
Chief Executive Officer (principal executive officer) of BlackRock MuniYield Fund, Inc. |
Date: September 24, 2013
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 | ||
BlackRock MuniYield Fund, Inc. |
Date: September 24, 2013
By: | /s/ Neal J. Andrews | |
Neal J. Andrews | ||
Chief Financial Officer (principal financial officer) of | ||
BlackRock MuniYield Fund, Inc. |
Date: September 24, 2013
EX-99. CERT
CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002
I, John M. Perlowski, Chief Executive Officer (principal executive officer) of BlackRock MuniYield Fund, Inc., certify that:
1. I have reviewed this report on Form N-Q of BlackRock MuniYield Fund, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
d) disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions):
a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: September 24, 2013
/s/ John M. Perlowski |
John M. Perlowski |
Chief Executive Officer (principal executive officer) of |
BlackRock MuniYield Fund, Inc.
EX-99. CERT
CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002
I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock MuniYield Fund, Inc., certify that:
1. I have reviewed this report on Form N-Q of BlackRock MuniYield Fund, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
d) disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions):
a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: September 24, 2013
/s/ Neal J. Andrews |
Neal J. Andrews |
Chief Financial Officer (principal financial officer) of |
BlackRock MuniYield Fund, Inc. |