Schedule of Investments  (unaudited) April 30, 2019 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Municipal Bonds — 83.2%
California — 80.8%
County/City/Special District/School District — 22.4%
Anaheim California Union High School District, GO, Election of 2014, 4.00%, 08/01/42	$	4,000	$	4,275,040
California Statewide Communities Development Authority, RB, Special Assessment, Statewide Community Infrastructure Program, Series A(a):
5.00%, 09/02/39		200		223,350
5.00%, 09/02/44		115		127,074
5.00%, 09/02/48		115		126,660
City of Los Angeles California, COP, Senior, Sonnenblick Del Rio West Los Angeles (AMBAC), 6.20%, 11/01/31		2,000		2,007,500
City of San Jose California Hotel Tax, RB, Convention Center Expansion & Renovation Project:
6.50%, 05/01/36		1,520		1,659,110
6.50%, 05/01/42		1,860		2,030,599
County of Los Angeles California Metropolitan Transportation Authority, Refunding RB, Series A:
5.00%, 07/01/42		4,000		4,740,880
Green Bond, 5.00%, 07/01/44		2,000		2,407,700
County of Riverside California Public Financing Authority, RB, Capital Facilities Project, 5.25%, 11/01/45		5,000		5,846,650
County of San Joaquin California Transportation Authority, Refunding RB, Limited Tax, Measure K, Series A, 6.00%, 03/01/21(b)		2,440		2,640,251
Garden Grove Unified School District, GO, Election of 2010, Series C, 5.25%, 08/01/40		5,500		6,216,430
Los Angeles California Unified School District, GO, Election of 2008, Series B-1, 5.25%, 07/01/42		3,500		4,203,360
Mount San Antonio Community College District, GO, Refunding, Election of 2018, Series A, 5.00%, 08/01/44		9,000		10,960,920
Riverside Community Properties Development, Inc., RB, Riverside County Law Building Project, 6.00%, 10/15/23(b)		5,000		5,979,900
San Francisco Bay Area Rapid Transit District, GO, Election of 2016, Green Bonds, Series A, 4.00%, 08/01/42		7,875		8,487,990
Tracy Community Facilities District, Special Tax Bonds, Series 1:
5.00%, 09/01/38		230		255,314
5.00%, 09/01/43		350		387,229

Security	Par (000)		Value
County/City/Special District/School District (continued)
5.00%, 09/01/48	$	385	$	425,302
Washington Township Health Care District, GO, Election of 2004, Series B, 5.50%, 08/01/38		1,625		1,906,092
West Contra Costa California Unified School District, GO, Election of 2012, Series A, 5.50%, 08/01/39		2,500		2,862,275
West Valley-Mission Community College District, GO, Series A, 4.00%, 08/01/44		4,420		4,812,275
				72,581,901
Education — 6.7%
California Educational Facilities Authority, Refunding RB, Pitzer College, 6.00%, 04/01/20(b)		2,500		2,603,550
California Municipal Finance Authority, RB, Emerson College, 6.00%, 01/01/22(b)		2,750		3,076,507
California Municipal Finance Authority, Refunding RB, William Jessup University(a):
5.00%, 08/01/39		290		313,629
5.00%, 08/01/48		350		373,972
California School Finance Authority, RB:
Alliance College-Ready Public Schools — 2023 Union LLC Project, Series A, 6.00%, 07/01/33		1,500		1,687,725
Alliance College-Ready Public Schools — 2023 Union LLC Project, Series A, 6.30%, 07/01/43		3,000		3,384,840
Value Schools, 6.65%, 07/01/33		595		663,824
Value Schools, 6.90%, 07/01/43		1,330		1,479,186
State of California University, Refunding RB, Systemwide, Series A, 5.00%, 11/01/41		2,000		2,318,020
University of California, Refunding RB, General, Series AZ, 5.00%, 05/15/43		5,000		5,957,500
				21,858,753
Health — 14.6%
California Health Facilities Financing Authority, RB:
Children’s Hospital, Series A, 5.25%, 11/01/41		9,700		10,479,589

1

Schedule of Investments  (unaudited) (continued) April 30, 2019 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Health (continued)
Sutter Health, Series B, 6.00%, 08/15/20(b)	$	7,530	$	7,961,845
California Health Facilities Financing Authority, Refunding RB:
Catholic Healthcare West, Series A, 6.00%, 07/01/19(b)		10,000		10,071,600
Sutter Health, Series B, 5.00%, 11/15/46		8,130		9,337,468
California Statewide Communities Development Authority, RB:
Loma Linda University Medical Center, 5.50%, 12/01/58(c)		625		710,182
Sutter Health, Series A, 6.00%, 08/15/20(b)		8,110		8,575,108
				47,135,792
Housing — 1.9%
California Community Housing Agency, RB, M/F Housing, Annadel Apartments, Series A, 5.00%, 04/01/49(c)		2,365		2,513,096
County of Santa Clara California Housing Authority, RB, M/F, John Burns Gardens Apartments Project, Series A, AMT, 6.00%, 08/01/41		3,500		3,509,030
				6,022,126
State — 6.2%
State of California, GO, Refunding:
Various Purpose, 5.00%, 09/01/35		10,115		11,973,429
Various Purposes, 5.00%, 11/01/36		2,000		2,404,500
Various Purpose, 5.25%, 10/01/39		3,500		4,124,960
State of California Public Works Board, LRB, Various Capital Projects, Series I, 5.50%, 11/01/33		1,510		1,719,543
				20,222,432
Tobacco — 5.1%
County of California Tobacco Securitization Agency, Refunding RB, Asset-Backed, Merced County, Series A, 5.25%, 06/01/45		775		774,953
Golden State Tobacco Securitization Corp., Refunding RB:
Series A-1, 5.00%, 06/01/47		10,640		10,413,262
Series A-2, 5.00%, 06/01/47		325		318,074

Security	Par (000)		Value
Tobacco (continued)
Tobacco Securitization Authority of Southern California, Refunding RB, Tobacco Settlement, Asset-Backed, Senior Series A-1:
5.00%, 06/01/37	$	4,320	$	4,345,186
5.13%, 06/01/46		605		605,702
				16,457,177
Transportation — 15.3%
City & County of San Francisco California Airports Commission, Refunding ARB, 2nd Series A, AMT:
5.25%, 05/01/33		1,440		1,605,902
5.00%, 05/01/42		3,550		4,095,706
City & County of San Francisco California Port Commission, RB, Series A, 5.13%, 03/01/40		5,075		5,200,099
City of Long Beach California Harbor Revenue, ARB, Series A, AMT, 5.00%, 05/15/40		3,910		4,525,708
City of Los Angeles California Department of Airports, ARB, AMT:
Los Angeles International Airport, Series B, 5.00%, 05/15/36		2,365		2,723,463
Los Angeles International Airports, Series A, 5.25%, 05/15/38		1,670		2,009,093
Subordinate, Series C, 5.00%, 05/15/44		3,665		4,250,447
City of Los Angeles California Department of Airports, Refunding ARB, Subordinate, Series A, AMT, 5.00%, 05/15/37		5,000		5,997,450
City of Los Angeles California Metropolitan Transportation Authority, Refunding RB, Green Bond, Series A, 5.00%, 07/01/41		1,300		1,544,803
City of San Jose California, ARB, Norman Y Mineta San Jose International Airport SJC, Series A-1, AMT (AGM):
5.50%, 03/01/30		1,000		1,061,840
5.75%, 03/01/34		1,000		1,062,580
City of San Jose California, Refunding ARB, Norman Y Mineta San Jose International Airport SJC, Series A-1, AMT, 6.25%, 03/01/34		1,400		1,502,718
County of Sacramento California Airport System Revenue, Refunding RB, Series C, AMT, 5.00%, 07/01/37		3,000		3,545,970

2

Schedule of Investments  (unaudited) (continued) April 30, 2019 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Transportation (continued)
County of Sacramento California Airport System Revenue, Refunding ARB, Senior Series A, 5.00%, 07/01/41	$	8,290	$	9,587,551
County of Sacramento California Airport System Revenue, Refunding RB, Series C, AMT, 5.00%, 07/01/36		750		889,673
				49,603,003
Utilities — 8.6%
City of Los Angeles California Department of Water & Power, RB, Power System, Series A, 5.00%, 07/01/42		3,440		4,020,775
City of Los Angeles California Department of Water & Power, Refunding RB, Series B, 5.00%, 07/01/43		6,000		7,211,460
City of Petaluma California Wastewater Revenue, Refunding RB, 6.00%, 05/01/21(b)		2,645		2,887,097
City of Richmond California Wastewater Revenue, Refunding RB, Series A, 5.00%, 08/01/42		5,185		6,103,056
Dublin-San Ramon Services District Water Revenue, Refunding RB, 6.00%, 02/01/21(b)		2,420		2,611,858
Eastern Municipal Water District, Refunding RB, Series A, 5.00%, 07/01/42		4,420		5,140,681
				27,974,927
Total Municipal Bonds in California				261,856,111
Puerto Rico — 2.4%
State — 1.2%
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, Restructured, Series A-1:
4.50%, 07/01/34		29		29,420
4.75%, 07/01/53		1,173		1,120,332

Security	Par (000)		Value
State (continued)
5.00%, 07/01/58	$	2,570	$	2,532,889
				3,682,641
Tobacco — 0.0%
Children’s Trust Fund, Refunding RB, Tobacco Settlement Asset-Backed Bonds, 5.50%, 05/15/39		95		96,059
Utilities — 1.2%
Puerto Rico Commonwealth Aqueduct & Sewer Authority, RB, Senior Lien, Series A:
5.00%, 07/01/33		2,185		2,149,494
6.00%, 07/01/38		1,740		1,742,175
				3,891,669
Total Municipal Bonds in Puerto Rico			7,670,369
Total Municipal Bonds — 83.2% (Cost — $257,635,801)				269,526,480
Municipal Bonds Transferred to Tender Option Bond Trusts(d)
California — 82.5%
County/City/Special District/School District — 32.1%
County of Los Angeles California Public Works Financing Authority, Refunding RB, Series A:
5.00%, 12/01/39		17,850		20,259,482
5.00%, 12/01/44		14,095		15,922,002
Los Angeles Community College District California, GO, Election of 2008, Series C, 5.25%, 08/01/20(b)(e)		9,681		10,132,264
Los Angeles Community College District California, GO, Refunding, Election of 2008, Series A, 6.00%, 08/01/19(b)		3,829		3,871,358
Palomar Community College District, GO, Election of 2006, Series C, 5.00%, 08/01/44		15,140		17,395,179
San Diego California Community College District, GO, Election of 2002, 5.25%, 08/01/19(b)		7,734		7,807,486
San Marcos Unified School District, GO, Election of 2010, Series A, 5.00%, 08/01/21(b)		15,520		16,759,583

3

Schedule of Investments  (unaudited) (continued) April 30, 2019 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
County/City/Special District/School District (continued)
Santa Monica Community College District, GO, Election of 2016, Series A, 5.00%, 08/01/43	$	10,000	$	12,020,300
				104,167,654
Education — 26.5%
California State University, Refunding RB, Systemwide, Series A:
5.00%, 11/01/41		9,775		11,324,524
5.00%, 11/01/42(e)		13,430		15,788,979
University of California, RB, Series AM, 5.25%, 05/15/44		11,950		13,676,715
University of California, Refunding RB:
Series A, 5.00%, 11/01/43		5,001		5,739,148
Series AZ, 5.00%, 05/15/43(e)		12,000		14,291,220
Series I, 5.00%, 05/15/40		21,875		24,949,786
				85,770,372
Health — 13.2%
California Health Facilities Financing Authority, RB, Sutter Health, Series A, 5.00%, 11/15/41		11,000		12,514,810

Security	Par (000)		Value
Health (continued)
California Statewide Communities Development Authority, Refunding RB, Cottage Health System Obligation, 5.00%, 11/01/43	$	26,870	$	30,124,897
				42,639,707
State — 4.1%
State of California, GO, Refunding, Various Purpose, Bid Group, 5.00%, 08/01/37		10,975		13,317,421
Transportation — 3.5%
City of Los Angeles California Department of Airports, ARB, Series A, AMT, 5.00%, 05/15/45		10,045		11,272,653
Utilities — 3.1%
City of Los Angeles California Wastewater System Revenue, Refunding RB, Series A, 5.00%, 06/01/19(b)		9,870		9,898,524
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 82.5% (Cost — $258,111,202)				267,066,331
Total Long-Term Investments — 165.7% (Cost — $515,747,003)				536,592,811
	Shares
Short-Term Securities — 0.5%
BlackRock Liquidity Funds California Money Fund, Institutional Class, 1.89%(f)(g)		1,668,908		1,669,242
Total Short-Term Securities — 0.5% (Cost — $1,669,242)				1,669,242
Total Investments — 166.2% (Cost — $517,416,245)				538,262,053
Other Assets Less Liabilities — 3.4%				11,962,899
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (36.9)%				(120,376,197	)
VRDP Shares at Liquidation Value — (32.7)%				(105,900,000	)
Net Assets Applicable to Common Shares — 100.0%			$	323,948,755

^(a)  When-issued security.

^(b)  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.

4

Schedule of Investments  (unaudited) (continued) April 30, 2019 BlackRock MuniYield California Fund, Inc. (MYC)     

^(c)  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)  Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing.

^(e)  All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between May 18, 2020 to May 15, 2026 is $18,469,609.

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

^(g)  During the period ended April 30, 2019, investments in issuers considered to be an affiliate/affiliates of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated	Shares Held at 07/31/18		Net Activity			Shares Held at 04/30/19		Value at 04/30/19		Income		Net Realized Gain (Loss) (a)			Change in Unrealized Appreciation (Depreciation)
BlackRock Liquidity Funds California Money Fund, Institutional Class		—		1,668,908			1,668,908	$	1,669,242	$	9,700	$	—		$	—
BlackRock Liquidity Funds, MuniCash, Institutional Class		5,452,423		(5,452,423	)		—		—		3,973		(331	)		(214	)
								$	1,669,242	$	13,673	$	(331	)	$	(214	)

^(a)  Includes net capital gain distributions, if applicable.

For Fund compliance purposes, theFund’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

Portfolio Abbreviations
AGM	Assured Guaranty Municipal Corp.
AMBAC	American Municipal Bond Assurance Corp.
AMT	Alternative Minimum Tax (subject to)
ARB	Airport Revenue Bonds
COP	Certificates of Participation
GO	General Obligation Bonds
LRB	Lease Revenue Bonds
M/F	Multi-Family
RB	Revenue Bonds

5

Schedule of Investments  (unaudited) (continued) April 30, 2019 BlackRock MuniYield California Fund, Inc. (MYC)

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Short Contracts:
10-Year U.S. Treasury Note		89		06/19/19	$	11,007	$	(64,655	)
Long U.S. Treasury Bond		126		06/19/19		18,581		(54,905	)
5-Year U.S. Treasury Note		11		06/28/19		1,272		(2,335	)
							$	(121,895	)

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

• Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access

• Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors.

The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments, refer to the Fund’s most recent financial statements as contained in its semi-annual report.

6

Schedule of Investments  (unaudited) (continued) April 30, 2019 BlackRock MuniYield California Fund, Inc. (MYC)

Fair Value Hierarchy as of Period End (continued)

The following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy:

	Level 1			Level 2		Level 3		Total
Assets:
Investments:
Long-Term Investments(a)	$	—		$	536,592,811	$	—	$	536,592,811
Short-Term Securities		1,669,242			—		—		1,669,242
	$	1,669,242		$	536,592,811	$	—	$	538,262,053
Derivative Financial Instruments(b)
Liabilities:
Interest rate contracts	$	(121,895	)	$	—	$	—	$	(121,895	)

^(a)  See above Schedule of Investments for values in each sector.

^(b)  Derivative financial instruments are futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

	Level 1		Level 2			Level 3		Total
Liabilities:
TOB Trust Certificates	$	—	$	(119,600,027	)	$	—	$	(119,600,027	)
VRDP Shares at Liquidation Value		—		(105,900,000	)		—		(105,900,000	)
	$	—	$	(225,500,027	)	$	—	$	(225,500,027	)

7