NPORT-EX 2 NPORT_8952_90452209_0423.htm BlackRock MuniYield Quality Fund

Schedule of Investments (unaudited)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
Municipal Bonds            
Alabama — 1.9%            

Black Belt Energy Gas District, RB(a)
4.00%, 10/01/52

   $     4,950     $ 4,922,567  

Series C-1, 5.25%, 02/01/53

     4,705       4,988,175  

Series F, 5.50%, 11/01/53

     2,920       3,097,428  

Homewood Educational Building Authority, Refunding RB

    

Series A, 5.00%, 12/01/34

     1,145       1,221,866  

Series A, 5.00%, 12/01/47

     1,010       1,039,301  

Southeast Energy Authority A Cooperative District, RB, Series A-1, 5.50%, 01/01/53(a)

    2,665       2,876,537  
   

 

 

  
          18,145,874  
Arizona — 8.0%            

Arizona Health Facilities Authority, Refunding RB, Series A, 5.00%, 12/01/42

     2,785       2,825,360  

Arizona Industrial Development Authority, RB 4.38%, 07/01/39(b)

    875       771,669  

5.00%, 07/01/54(b)

    615       549,599  

7.10%, 01/01/55(b)

    250       255,442  

Series A, (BAM), 5.00%, 06/01/49

     2,500       2,631,647  

Series A, 5.00%, 07/01/49(b)

    1,445       1,301,030  

Series A, 5.00%, 07/15/49(b)

    1,000       892,358  

Series A, 5.00%, 12/15/49(b)

    250       221,304  

Series A, 5.00%, 07/01/54(b)

    1,110       983,935  

Arizona Industrial Development Authority, Refunding RB

    

Series A, 5.13%, 07/01/37(b)

    500       488,720  

Series A, 5.38%, 07/01/50(b)

    1,645       1,548,154  

Series A, 5.50%, 07/01/52(b)

    600       579,331  

Series G, 5.00%, 07/01/47(b)

    2,360       2,133,888  

Series S, 5.00%, 07/01/37

     750       784,227  

City of Buckeye Arizona Excise Tax Revenue, RB, (NGFGC), 5.00%, 07/01/43

     4,000       4,112,328  

City of Lake Havasu City Arizona Wastewater System Revenue, RB, Series B, (AGM), 5.00%, 07/01/40

     3,500       3,605,248  

City of Phoenix Civic Improvement Corp., ARB

    

Series B, AMT, Junior Lien, 5.00%, 07/01/44

     4,515       4,703,248  

Series B, AMT, Junior Lien, 5.00%, 07/01/49

     5,960       6,151,131  

City of Phoenix Civic Improvement Corp., RB,

    

Series A, Junior Lien, 4.00%, 07/01/39

     1,300       1,322,299  

City of Phoenix Civic Improvement Corp., Refunding RB

    

AMT, Senior Lien, 5.00%, 07/01/32

     700       701,707  

Series D, Junior Lien, 4.00%, 07/01/40

     1,000       1,006,946  

Florence Town Inc Industrial Development Authority, RB, 6.00%, 07/01/23(b)(c)

    500       502,196  

Glendale Industrial Development Authority, RB, 5.00%, 05/15/56

     825       698,473  

Industrial Development Authority of the City of Phoenix Arizona, RB
6.63%, 07/01/23(c)

    500       502,700  

Series A, 5.00%, 07/01/44

     2,000       1,974,970  

Series A, 6.75%, 07/01/44(b)

    440       447,878  

Series A, 5.00%, 07/01/46(b)

    1,570       1,419,398  

Industrial Development Authority of the City of Phoenix Arizona, Refunding RB

    

5.00%, 07/01/45(b)

    500       457,389  

5.00%, 07/01/46

     500       489,700  
Security  

Par

(000)

    Value  
Arizona (continued)            

Industrial Development Authority of the County of Pima, RB, 5.00%, 07/01/49(b)

  $     1,150     $ 1,020,121  

Industrial Development Authority of the County of Pima, Refunding RB(b)

    

5.00%, 06/15/49

     1,985       1,737,363  

5.00%, 06/15/52

     530       458,030  

Kyrene Elementary School District No. 28, GO

    

Series B, 5.50%, 07/01/29

     480       481,721  

Series B, 5.50%, 07/01/30

     400       401,434  

Maricopa County Industrial Development Authority, RB
5.00%, 07/01/47

     1,000       1,002,088  

4.00%, 07/01/50

     1,500       1,394,481  

Maricopa County Industrial Development Authority, Refunding RB
5.00%, 07/01/47(b)

    1,000       916,192  

5.00%, 07/01/54(b)

    1,220       1,071,110  

Series A, 5.00%, 09/01/37

     1,525       1,613,753  

Series A, 4.13%, 09/01/38

     550       553,099  

Series A, 4.13%, 09/01/42

     750       749,611  

Series A, 5.00%, 09/01/42

     1,000       1,046,129  

Maricopa County Unified School District No. 11-Peoria, GO, (AGM), 5.00%, 07/01/35

     1,250       1,309,683  

McAllister Academic Village LLC, Refunding RB, 5.00%, 07/01/39

     500       523,266  

Phoenix-Mesa Gateway Airport Authority, ARB, AMT, 5.00%, 07/01/38

     3,600       3,604,367  

Pinal County Industrial Development Authority, RB, AMT, 6.25%, 06/01/26

     200       205,971  

Salt River Project Agricultural Improvement & Power District, Refunding RB, Series A, 5.00%, 12/01/41

     2,000       2,078,988  

Salt Verde Financial Corp., RB
5.50%, 12/01/29

     2,000       2,156,284  

5.00%, 12/01/32

     155       164,596  

5.00%, 12/01/37

     6,610       6,875,094  

State of Arizona Distribution Revenue, RB, Series B, (BHAC-CR FGIC), 5.50%, 07/01/41

     100       125,662  

Student & Academic Services LLC, RB, (BAM), 5.00%, 06/01/39

     1,400       1,429,508  

University of Arizona, Refunding RB, 5.00%, 06/01/39

     2,050       2,153,535  
   

 

 

  
          77,134,361  
Arkansas(b) — 0.4%            

Arkansas Development Finance Authority, RB

    

Series A, AMT, 4.50%, 09/01/49

     2,135       1,909,448  

Series A, AMT, 4.75%, 09/01/49

     2,450       2,251,462  
   

 

 

  
      4,160,910  
California — 14.1%            

ABC Unified School District, GO, Series C, (NPFGC-IBC FGIC), 0.00%, 08/01/34(d)

    1,215       872,497  

Alvord Unified School District, Refunding GO, Series B, Election 2007, (AGM), 0.00%, 08/01/41(d)

    1,175       525,063  

Anaheim Public Financing Authority, RB,
Series A, (AGM), 6.00%, 09/01/24

     2,430       2,486,408  

Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/47

     2,000       1,988,914  

California Community Housing Agency, RB, M/F Housing(b)

    

3.00%, 08/01/56

     440       289,620  

Series A, 5.00%, 04/01/49

     320       279,997  
 

 

 

1  

    

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
California (continued)            

California Enterprise Development Authority, RB, 8.00%, 11/15/62(b)

  $ 1,355     $ 1,343,669  

California Health Facilities Financing Authority, Refunding RB, Sub-Series A-2, 5.00%, 11/01/47

     1,770       2,022,777  

California State Public Works Board, RB

    

Series F, 5.25%, 09/01/33

     835       841,346  

Series I, 5.50%, 11/01/31

     1,000           1,013,297  

California Statewide Communities Development Authority, Refunding RB(b)

   

Series A, 5.00%, 06/01/36

     1,360       1,345,419  

Series A, 5.00%, 06/01/46

     1,680       1,567,257  

Carlsbad Unified School District, GO, Series B, 6.00%, 05/01/34

     5,000       5,137,845  

City of Los Angeles Department of Airports, Refunding ARB, Series D, AMT, Subordinate, 4.00%, 05/15/51

     8,175       7,680,985  

CMFA Special Finance Agency XII, RB, M/F Housing, Series A, 3.25%, 02/01/57(b)

    1,660       1,148,137  

CSCDA Community Improvement Authority, RB, M/F Housing(b)

    

5.00%, 09/01/37

     370       356,306  

4.00%, 10/01/56

     590       478,389  

4.00%, 12/01/56

     575       412,666  

Series A, 4.00%, 06/01/58

     3,700       2,887,166  

Senior Lien, 3.13%, 06/01/57

     2,065       1,419,999  

Series A, Senior Lien, 4.00%, 12/01/58

     4,610       3,567,518  

Glendale Community College District, GO, Series D, 7.00%, 08/01/34

     4,125       4,823,012  

Grossmont Union High School District, GO, Election 2004, 0.00%, 08/01/31(d)

    5,000       3,983,750  

Grossmont-Cuyamaca Community College District, GO, Series C, Election 2002, (AGC), 0.00%, 08/01/30(d)

        10,030       8,097,048  

Kern Community College District, GO, Series C, 5.50%, 11/01/23(c)

    1,620       1,638,902  

Mount San Antonio Community College District, Refunding GO, CAB, CAB, Series A, 6.25%, 08/01/43

     4,445       4,396,234  

Norman Y Mineta San Jose International Airport SJC, Refunding RB, Series A, AMT, 5.00%, 03/01/41

     2,050       2,113,845  

Poway Unified School District, Refunding GO,

    

Series B, 0.00%, 08/01/36(d)

    8,750       5,467,026  

Regents of the University of California Medical Center Pooled Revenue, RB, Series P, 4.00%, 05/15/53

     5,405       5,087,602  

Regents of the University of California Medical Center Pooled Revenue, Refunding RB, Series J, 5.25%, 05/15/23(c)

    3,730       3,732,697  

Rio Hondo Community College District, GO(d)

   

Series C, Election 2004, 0.00%, 08/01/37

     4,005       2,347,258  

Series C, Election 2004, 0.00%, 08/01/38

     5,000       2,775,825  

Sacramento Area Flood Control Agency, Refunding SAB, 5.00%, 10/01/47

     1,975       2,052,791  

San Bernardino City Unified School District, GO, Series B, 6.38%, 08/01/34

     10,000       10,430,270  

San Diego Community College District, GO, CAB(d)

   

Election 2006, 0.00%, 08/01/31

     2,145       1,343,714  

Election 2006, 0.00%, 08/01/32

     2,680       1,576,660  
Security  

Par

(000)

    Value  
California (continued)            

San Diego Unified School District, GO,
Series C, Election 2008, 0.00%, 07/01/38(d)

  $ 3,800     $ 2,157,686  

San Diego Unified School District, GO, CAB, Series G, Election 2008, 0.00%,
01/01/24(c)(d)

    7,295       3,725,456  

San Diego Unified School District, Refunding GO, CAB(d)

   

Series R-1, 0.00%, 07/01/30

     5,000       4,105,455  

Series R-1, 0.00%, 07/01/31

     3,005       2,397,560  

San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB

    

Series A, AMT, 5.50%, 05/01/28

     1,065       1,066,658  

Series A, AMT, 5.25%, 05/01/33

     830       831,181  

San Mateo County Community College District, GO, Series C, (NPFGC), 0.00%, 09/01/30(d)

        12,740       10,506,920  

State of California, GO, 5.50%, 04/01/28

     5       5,010  

Walnut Valley Unified School District, GO, Series B, Election 2007, 0.00%, 08/01/36(d)

    5,500       3,459,990  

Washington Township Health Care District, GO, Series B, Election 2004, 5.50%, 08/01/40

     625       641,645  

Yosemite Community College District, GO, Series D, Election 2004, 0.00%, 08/01/36(d)

    15,000       9,314,835  
   

 

 

  
          135,744,305  
Colorado — 3.1%            

Centerra Metropolitan District No. 1, TA, 5.00%, 12/01/47(b)

    345       298,907  

City & County of Denver Colorado Airport System Revenue, ARB

    

Series A, AMT, 5.50%, 11/15/28

     1,000       1,009,891  

Series A, AMT, 5.50%, 11/15/30

     330       333,309  

Series A, AMT, 5.50%, 11/15/31

     400       404,040  

City & County of Denver Colorado Airport System Revenue, Refunding ARB, Series A, AMT, 5.50%, 11/15/53

     2,955       3,225,823  

City & County of Denver Colorado Pledged Excise Tax Revenue, RB, CAB, Series A-2, 0.00%, 08/01/37(d)

     1,760       974,288  

City & County of Denver Colorado, COP, Series A, 4.00%, 06/01/48

     3,035       2,895,429  

Colorado Health Facilities Authority, RB
5.50%, 11/01/47

     2,400       2,577,799  

Series A, 4.00%, 11/15/46

     2,555       2,422,355  

Colorado Health Facilities Authority, Refunding RB

    

Series A, 4.00%, 08/01/44

     1,060       994,189  

Series A, 5.00%, 05/15/52

     4,285       4,581,998  

Denver City & County School District No. 1, GO, (SAW), 4.00%, 12/01/45

     5,420       5,452,552  

State of Colorado, COP, Series S, 4.00%, 03/15/40

     4,400       4,401,263  
   

 

 

  
      29,571,843  
Connecticut — 0.0%            

Connecticut Housing Finance Authority, Refunding RB, S/F Housing, Series A-1, 3.80%, 11/15/39

     260       250,647  

Connecticut State Health & Educational Facilities Authority, RB, Series A-1, 5.00%, 10/01/54(b)

    205       160,812  
   

 

 

  
      411,459  
Delaware — 0.2%            

Delaware State Health Facilities Authority, RB, 5.00%, 06/01/48

     1,605       1,656,874  
   

 

 

  
 

 

 

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

   2

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
District of Columbia — 0.7%            

District of Columbia, RB

    

Series B-1, (NPFGC-IBC FGIC), 5.00%, 02/01/31

   $ 435     $ 435,442  

Series C, 4.00%, 05/01/45

     3,280       3,261,753  

Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB, Series B, Subordinate, 4.00%, 10/01/49

         2,875           2,699,197  
   

 

 

  
      6,396,392  
Florida — 11.9%            

Brevard County Health Facilities Authority, Refunding RB, 5.00%, 04/01/39

     3,775       3,830,568  

Capital Trust Agency, Inc., RB(b)
5.00%, 01/01/55

     825       628,894  

Series A, 5.00%, 06/01/55

     1,285       1,054,032  

Series A, 5.50%, 06/01/57

     460       407,128  

City of South Miami Health Facilities Authority, Inc., Refunding RB, 5.00%, 08/15/42

     4,215       4,336,177  

City of Tampa Florida Water & Wastewater System Revenue, RB, Series A, 5.25%, 10/01/57

     5,055       5,609,801  

City of Tampa Florida, RB, CAB(d)

   

Series A, 0.00%, 09/01/49

     1,725       453,397  

Series A, 0.00%, 09/01/53

     1,840       384,142  

County of Broward Florida Airport System Revenue, ARB

    

Series A, AMT, 4.00%, 10/01/49

     3,315       3,004,729  

Series A, AMT, 5.00%, 10/01/49

     300       309,685  

County of Broward Florida Port Facilities Revenue, ARB, AMT, 5.25%, 09/01/47

     3,650       3,845,523  

County of Lee Florida Airport Revenue, ARB,

    

Series B, AMT, 5.00%, 10/01/46

     3,210       3,350,348  

County of Miami-Dade Florida Aviation Revenue, Refunding RB
5.00%, 10/01/41

     3,800       3,935,143  

AMT, 5.00%, 10/01/34

     450       457,599  

County of Miami-Dade Seaport Department, ARB(c)

   

Series A, 5.38%, 10/01/23

     1,170       1,180,095  

Series B, AMT, 6.00%, 10/01/23

     3,765       3,800,049  

Series B, AMT, 6.25%, 10/01/23

     1,500       1,515,487  

County of Miami-Dade Seaport Department, Refunding RB

    

Series A, AMT, 5.00%, 10/01/42

     1,315       1,388,560  

Series A, AMT, 5.00%, 10/01/47

     2,195       2,292,186  

Series A, AMT, 5.25%, 10/01/52

     1,040       1,105,950  

Series A-1, AMT, (AGM), 4.00%, 10/01/45

     2,885       2,712,921  

County of Osceola Florida Transportation Revenue, Refunding RB, CAB(d)

   

Series A-2, 0.00%, 10/01/38

     1,000       448,528  

Series A-2, 0.00%, 10/01/41

     1,900       712,090  

Series A-2, 0.00%, 10/01/42

     2,210       752,516  

Series A-2, 0.00%, 10/01/46

     1,840       500,081  

Series A-2, 0.00%, 10/01/47

     2,970       759,123  

Series A-2, 0.00%, 10/01/48

     1,045       251,182  

County of Pasco Florida, RB, (AGM), 5.75%, 09/01/54

     660       728,843  

Florida Development Finance Corp., RB(b)
6.50%, 06/30/57

     1,230       1,216,528  

AMT, 5.00%, 05/01/29

     1,275       1,193,266  

Florida Development Finance Corp., Refunding RB, 5.00%, 09/15/40(b)

    710       663,204  

Greater Orlando Aviation Authority, ARB

    

Series A, AMT, 5.00%, 10/01/40

     3,890       4,007,937  

Series A, AMT, 4.00%, 10/01/52

     6,600       5,964,040  
Security  

Par

(000)

    Value  
Florida (continued)            

Greater Orlando Aviation Authority, ARB (continued)

    

Sub-Series A, AMT, 5.00%, 10/01/47

   $     16,620     $ 17,027,522  

Hillsborough County Aviation Authority, ARB, AMT, 5.00%, 10/01/48

     5,765       5,873,347  

Hillsborough County Aviation Authority, Refunding RB,

    

Sub-Series A, AMT, 5.50%, 10/01/23(c)

    1,995       2,009,520  

Lakewood Ranch Stewardship District, SAB
5.25%, 05/01/37

     240       242,131  

3.85%, 05/01/39

     450       383,737  

5.38%, 05/01/47

     260       258,613  

4.00%, 05/01/49

     675       530,777  

Lakewood Ranch Stewardship District, SAB, S/F Housing
4.00%, 05/01/40

     365       315,487  

4.00%, 05/01/50

     605       474,425  

Lee County Housing Finance Authority, RB, S/F Housing, Series A-2, AMT, (FHLMC, FNMA, GNMA), 6.00%, 09/01/40

     25       25,030  

Miami-Dade County Educational Facilities Authority, Refunding RB, Series A, 5.00%, 04/01/40

     6,595       6,729,024  

Orange County Health Facilities Authority, RB, 4.00%, 10/01/52

     6,605       6,098,416  

Orange County Health Facilities Authority, Refunding RB
5.00%, 08/01/41

     1,325       1,370,005  

5.00%, 08/01/47

     3,845       3,975,599  

Orange County Housing Finance Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 3.75%, 09/01/47

     335       335,239  

Palm Beach County Health Facilities Authority, RB, Series B, 4.00%, 11/15/41

     160       133,099  

Reedy Creek Improvement District, GO, Series A, 5.25%, 06/01/23(c)

    2,820       2,824,382  

Seminole Improvement District, RB
5.00%, 10/01/32

     255       251,760  

5.30%, 10/01/37

     290       288,117  

Storey Creek Community Development District, SAB
4.00%, 12/15/39

     415       361,139  

4.13%, 12/15/49

     350       282,582  

Village Community Development District No. 14, SAB, 5.50%, 05/01/53

     1,955       1,911,789  
   

 

 

  
          114,501,492  
Georgia — 3.8%            

Development Authority for Fulton County, RB, 4.00%, 07/01/49

     1,855       1,727,610  

East Point Business & Industrial Development Authority, RB, Series A, 5.25%, 06/15/62(b)

    715       640,903  

Gainesville & Hall County Hospital Authority, RB, Series A, 4.00%, 02/15/51

     2,875       2,644,586  

Georgia Housing & Finance Authority, Refunding RB, 3.70%, 06/01/49

     6,900       6,039,963  

Georgia Ports Authority, ARB, 4.00%, 07/01/52

     1,345       1,292,848  

Main Street Natural Gas, Inc., RB

    

Series A, 5.00%, 05/15/37

     1,475       1,516,096  

Series A, 5.00%, 05/15/38

     910       929,785  

Series A, 5.00%, 05/15/43

     1,620       1,622,488  

Series A, 5.00%, 05/15/49

     1,230       1,210,807  

Series A, 5.00%, 06/01/53(a)

    7,360       7,752,222  

Municipal Electric Authority of Georgia, RB

    

Class A, 5.50%, 07/01/63

     1,275       1,318,809  

Series A, 5.00%, 01/01/59

     1,870       1,903,402  
 

 

 

3  

    

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
Georgia (continued)            

Municipal Electric Authority of Georgia, Refunding RB, Series EE, (AMBAC), 7.00%, 01/01/25

   $     7,475     $ 7,902,518  

Private Colleges & Universities Authority, RB, 5.00%, 04/01/24(c)

    330       335,569  
   

 

 

  
          36,837,606  
Hawaii — 0.5%            

State of Hawaii Airports System Revenue, ARB,

    

Series A, AMT, 5.00%, 07/01/48

     3,890       3,993,929  

State of Hawaii Airports System Revenue, COP

    

AMT, 5.25%, 08/01/25

     485       486,887  

AMT, 5.25%, 08/01/26

     525       527,084  
   

 

 

  
      5,007,900  
Illinois — 11.6%            

Chicago Board of Education, GO

    

Series A, 5.00%, 12/01/34

     3,665       3,791,952  

Series A, 5.00%, 12/01/40

     4,090       4,121,828  

Series C, 5.25%, 12/01/35

     970       979,977  

Series D, 5.00%, 12/01/46

     1,230       1,215,760  

Series H, 5.00%, 12/01/36

     295       298,224  

Chicago Board of Education, Refunding GO

    

Series A, 5.00%, 12/01/30

     355       369,938  

Series C, 5.00%, 12/01/25

     415       422,396  

Series D, 5.00%, 12/01/25

     530       539,446  

Series G, 5.00%, 12/01/34

     290       296,877  

Chicago Midway International Airport, Refunding ARB

    

Series B, 5.00%, 01/01/46

     7,060       7,244,118  

Series A, AMT, 2nd Lien, 5.00%, 01/01/34

     1,475       1,487,350  

Series A, AMT, 2nd Lien, 5.00%, 01/01/41

     2,070       2,078,584  

Chicago O’Hare International Airport, ARB, Series D, Senior Lien, 5.25%, 01/01/42

     6,885       7,200,505  

Chicago O’Hare International Airport, Refunding ARB

    

Series A, AMT, Senior Lien, 5.00%, 01/01/48

     2,750       2,803,397  

Series A, AMT, Senior Lien, 4.38%, 01/01/53

     2,780       2,593,293  

Chicago O’Hare International Airport, Refunding RB, Series B, AMT, 5.00%, 01/01/31

     2,500       2,502,625  

Chicago Transit Authority Sales Tax Receipts Fund, RB, 5.25%, 12/01/49

     1,610       1,632,426  

Chicago Transit Authority Sales Tax Receipts Fund, Refunding RB, Series A, 2nd Lien, 5.00%, 12/01/57

     2,575       2,630,267  

Cook County Community College District No. 508, GO
5.50%, 12/01/38

     1,000       1,002,824  

5.25%, 12/01/43

     1,500       1,500,515  

Illinois Finance Authority, Refunding RB

    

Series A, 5.00%, 11/15/45

     2,945       2,984,057  

Series B, 4.00%, 08/15/41

     1,100       1,023,023  

Series C, 4.00%, 02/15/27(c)

    40       41,916  

Series C, 4.13%, 08/15/37

     2,430       2,372,472  

Series C, 4.00%, 02/15/41

     870       858,096  

Series C, 5.00%, 08/15/44

     820       826,176  

Illinois Housing Development Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.13%, 10/01/38

     320       324,497  

Illinois State Toll Highway Authority, RB

    

Series B, 5.00%, 01/01/40

     2,460       2,551,160  

Series C, 5.00%, 01/01/38

     3,245       3,353,049  

Metropolitan Pier & Exposition Authority, RB

    

Series A, (NPFGC), 0.00%, 12/15/26(d)

    5,000       4,317,430  
Security  

Par

(000)

    Value  
Illinois (continued)            

Metropolitan Pier & Exposition Authority, RB (continued)

    

Series A, (NPFGC), 0.00%, 12/15/33(d)

  $ 9,950     $ 6,498,474  

Series A, 5.00%, 06/15/57

     3,005       3,014,195  

Metropolitan Pier & Exposition Authority, RB, CAB(d)

   

(BAM-TCRS), 0.00%, 12/15/56

     2,965       552,812  

Series A, (NPFGC), 0.00%, 06/15/30

     14,205       10,748,157  

Series A, (NPFGC), 0.00%, 06/15/30(e)

    800       633,549  

Metropolitan Pier & Exposition Authority, Refunding RB
4.00%, 06/15/50

     1,690       1,457,196  

Series B, (AGM), 0.00%, 06/15/44(d)

    8,075       2,984,270  

Metropolitan Pier & Exposition Authority, Refunding RB, CAB, Series B, (BAM-TCRS), 0.00%, 12/15/54(d)

    4,140       860,420  

Regional Transportation Authority, RB, Series B, (NPFGC), 5.75%, 06/01/33

     3,200       3,766,765  

State of Illinois, GO
5.25%, 02/01/30

     2,010       2,028,896  

5.25%, 02/01/32

     2,330       2,353,139  

5.50%, 07/01/33

     2,920       2,930,606  

5.25%, 02/01/34

     1,610       1,627,913  

5.50%, 07/01/38

     2,700       2,710,419  

5.50%, 05/01/39

     2,785       3,048,951  

Series B, 5.25%, 05/01/40(f)

    2,345       2,553,288  

Series D, 5.00%, 11/01/27

     440       471,510  
   

 

 

  
          111,604,738  
Indiana — 0.5%            

City of Valparaiso Indiana, RB, AMT, 6.75%, 01/01/34

         1,350       1,372,325  

Indiana Finance Authority, RB, Series A, AMT, 5.00%, 07/01/23(c)

    3,285       3,291,582  
   

 

 

  
      4,663,907  
Iowa — 0.0%            

Iowa Student Loan Liquidity Corp, Refunding RB, Series B, AMT, 3.00%, 12/01/39

     345       324,548  
   

 

 

  
Kansas — 0.1%            

City of Lenexa Kansas, Refunding RB, Series A, 5.00%, 05/15/43

     550       503,378  
   

 

 

  
Kentucky — 0.6%            

City of Henderson Kentucky, RB, Series A, AMT, 4.70%, 01/01/52(b)

    555       510,765  

Fayette County School District Finance Corp., RB

    

(NGFGC), 5.00%, 06/01/44

     1,455       1,588,703  

(BAM-TCRS), 5.00%, 06/01/46

     1,285       1,394,284  

Kentucky Public Energy Authority, RB,
Series A-1, 4.00%, 08/01/52(a)

    2,000       1,968,756  
   

 

 

  
      5,462,508  
Louisiana — 2.1%            

Jefferson Sales Tax District, RB

    

Series B, (AGM), 5.00%, 12/01/34

     330       357,790  

Series B, (AGM), 5.00%, 12/01/35

     440       473,845  

Series B, (AGM), 5.00%, 12/01/36

     395       420,787  

Series B, (AGM), 5.00%, 12/01/37

     495       524,574  

Lake Charles Harbor & Terminal District, ARB,

    

Series B, AMT, (AGM), 5.50%, 01/01/29

     1,500       1,520,219  

Louisiana Public Facilities Authority, Refunding RB 5.00%, 05/15/42

     4,600       4,688,476  
 

 

 

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

   4

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
Louisiana (continued)            

Louisiana Public Facilities Authority, Refunding RB (continued)
5.00%, 05/15/47

   $     1,895     $ 1,914,827  

New Orleans Aviation Board, ARB

    

Series B, AMT, 5.00%, 01/01/45

     4,620       4,628,861  

Series B, AMT, 5.00%, 01/01/48

     1,990       1,997,650  

State of Louisiana Gasoline & Fuels Tax Revenue, Refunding RB, Series A, 1st Lien, 4.00%, 05/01/25(c)

    3,605       3,693,315  
   

 

 

  
          20,220,344  
Maryland — 3.8%            

Anne Arundel County Consolidated Special Taxing District, Refunding ST, 5.00%, 07/01/32

     500       501,597  

Anne Arundel County Consolidated Special Taxing District, ST, 5.25%, 07/01/44

     250       248,578  

City of Baltimore Maryland, RB

    

Series A, 5.00%, 01/01/24(c)

    1,000       1,011,787  

Series A, 5.00%, 07/01/41

     6,750       7,076,524  

Series A, 5.00%, 07/01/46

     1,760       1,824,269  

Series C, 5.00%, 01/01/24(c)

    1,000       1,010,973  

City of Baltimore Maryland, Refunding RB 5.00%, 09/01/46

     750       696,472  

Series A, 4.50%, 09/01/33

     185       182,220  

Series A, 5.00%, 09/01/38

     250       252,221  

City of Baltimore Maryland, Refunding TA(b)

   

Series A, Senior Lien, 3.50%, 06/01/39

     650       542,312  

Series A, Senior Lien, 3.63%, 06/01/46

     1,095       858,676  

City of Baltimore Maryland, TA(b)

   

Series B, 3.70%, 06/01/39

     200       171,245  

Series B, 3.88%, 06/01/46

     300       245,220  

County of Frederick Maryland, Refunding TA, 4.63%, 07/01/43(b)

    235       224,147  

County of Howard Maryland, TA, 6.10%, 02/15/44

     250       251,833  

County of Prince George’s Maryland, TA, 5.25%, 07/01/48(b)

    300       286,188  

Howard County Housing Commission, RB, M/F Housing
5.00%, 12/01/42

     500       519,095  

4.00%, 06/01/46

     500       467,238  

Series A, 5.00%, 06/01/44

     550       554,651  

Maryland Community Development Administration, RB, M/F Housing, Series D, 3.70%, 07/01/35

     500       486,092  

Maryland Economic Development Corp., RB
5.00%, 07/01/56

     390       391,656  

Class B, AMT, 5.25%, 06/30/55

     2,920       2,978,111  

Maryland Economic Development Corp., Refunding RB
5.00%, 07/01/37

     500       500,035  

(AGM), 5.00%, 06/01/43

     1,350       1,386,534  

Series A, 5.00%, 06/01/35

     100       105,698  

Maryland Health & Higher Educational Facilities Authority, RB
4.00%, 07/01/48

     300       286,742  

Series 2017, 5.00%, 12/01/46

     250       257,145  

Series A, 5.00%, 05/15/42

     2,330       2,410,357  

Series B, 4.00%, 04/15/45

     250       242,313  

Maryland Health & Higher Educational Facilities Authority, Refunding RB
4.00%, 07/01/24(c)

    100       100,858  

5.00%, 07/01/24(c)

    700       713,934  

5.00%, 06/01/29

     500       500,227  
Security  

Par

(000)

    Value  
Maryland (continued)            

Maryland Health & Higher Educational Facilities Authority, Refunding RB (continued)
5.00%, 07/01/34

   $ 510     $ 545,324  

5.00%, 07/01/35

     200       206,390  

5.00%, 07/01/40

     1,000       1,014,588  

4.00%, 07/01/41

     500       489,095  

5.00%, 08/15/42

     1,000       1,013,976  

4.13%, 07/01/47

     500       479,848  

Maryland State Transportation Authority Passenger Facility Charge Revenue, ARB, AMT, 4.00%, 06/01/29

         1,925       1,925,266  

Montgomery County Housing Opportunities Commission, Refunding RB, S/F Housing, Series C, AMT, 3.30%, 07/01/39

     2,830       2,635,302  

Washington Suburban Sanitary Commission, RB, Second Series, (GTD), 4.00%, 06/01/41

     875       884,373  
   

 

 

  
          36,479,110  
Massachusetts — 4.1%            

Commonwealth of Massachusetts, GO

    

Series A, 5.00%, 03/01/46

     4,495       4,554,217  

Series C, 5.00%, 07/01/45

     1,000       1,030,639  

Massachusetts Bay Transportation Authority Sales Tax Revenue, Refunding RB, Series A, 5.25%, 07/01/29

     730       848,797  

Massachusetts Development Finance Agency, RB
5.00%, 10/01/46

     500       502,985  

5.00%, 07/01/47

     580       583,983  

5.00%, 10/01/48

     200       186,475  

Series A, 5.25%, 01/01/42

     500       511,557  

Series A, (AMBAC), 5.75%, 01/01/42

     650       820,448  

Series A, 5.00%, 01/01/47

     5,945       5,963,887  

Massachusetts Development Finance Agency, Refunding RB
5.00%, 07/01/37

     150       152,159  

4.00%, 07/01/39

     2,545       2,373,172  

5.00%, 04/15/40

     1,000       1,005,040  

4.13%, 10/01/42(b)

    550       464,693  

4.00%, 12/01/42

     485       434,288  

5.00%, 09/01/43

     500       509,564  

4.00%, 07/01/44

     250       250,547  

5.00%, 07/01/47

     7,685       7,896,599  

Series A, 4.00%, 06/01/29(c)

    420       459,024  

Series E, 4.00%, 07/01/38

     500       475,268  

Series P, 5.45%, 05/15/59

     1,500       1,677,391  

Massachusetts Educational Financing Authority, RB

    

AMT, 5.00%, 01/01/27

     1,000       1,022,710  

Series B, AMT, 2.63%, 07/01/36

     30       29,081  

AMT, Subordinate, 3.75%, 07/01/47

     2,135       1,723,771  

Massachusetts Educational Financing Authority, Refunding RB, AMT, 3.50%, 07/01/33

     80       77,674  

Massachusetts Health & Educational Facilities Authority, Refunding RB, Series M, 5.50%, 02/15/27

     1,000       1,107,060  

Massachusetts Housing Finance Agency, RB, M/F Housing

    

Series A, 3.80%, 12/01/43

     500       447,406  

Series A, 3.85%, 06/01/46

     130       113,660  

Series D-1, 2.55%, 12/01/50

     295       191,098  

Massachusetts Housing Finance Agency, Refunding RB(f)

   

Series A, AMT, 4.45%, 12/01/42

     960       906,956  
 

 

 

5  

    

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
Massachusetts (continued)            

Massachusetts Housing Finance Agency, Refunding RB(f) (continued)

    

Series A, AMT, 4.50%, 12/01/47

   $ 255     $ 246,684  

Massachusetts Housing Finance Agency, Refunding RB, S/F Housing, Series 214, (FHLMC, FNMA, GNMA), 2.95%, 12/01/44

     465       415,852  

Massachusetts School Building Authority, RB, Sub-

    

Series B, 4.00%, 02/15/43

     1,780       1,782,937  

Massachusetts State College Building Authority, Refunding RB, Series B, (AGC SAP), 5.50%, 05/01/39

     825       1,011,588  
   

 

 

  
      39,777,210  
Michigan — 4.5%            

Eastern Michigan University, RB

    

Series A, (AGM), 4.00%, 03/01/44

     1,455       1,429,290  

Series A, 4.00%, 03/01/47

     1,455       1,332,073  

Michigan Finance Authority, RB
4.00%, 02/15/50

     5,000       4,655,035  

4.00%, 02/15/44

     1,695       1,636,738  

Series A, 4.00%, 11/15/50

     5,680       5,223,919  

Series S, 5.00%, 11/01/44

     4,670       4,768,966  

Michigan Finance Authority, Refunding RB
4.00%, 11/15/46

     3,420       3,196,229  

Series A, 4.00%, 12/01/40

     7,000       6,850,704  

Michigan State Building Authority, Refunding RB, Series I, 5.00%, 10/15/45

     2,045       2,104,360  

Michigan State Housing Development Authority, RB, M/F Housing

    

Series A, 4.05%, 10/01/48

     1,855       1,665,460  

Series A, AMT, 2.55%, 10/01/51

     2,360       1,516,885  

Series A, AMT, 4.15%, 10/01/53

     1,740       1,521,780  

Michigan State Housing Development Authority, RB, S/F Housing, Series B, 2.95%, 12/01/39

     675       583,581  

Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43

     6,310       6,394,693  

Western Michigan University, Refunding RB, (AGM), 5.00%, 11/15/23(c)

    900       908,472  
   

 

 

  
      43,788,185  
Minnesota — 0.2%            

Minnesota Higher Education Facilities Authority, RB,

    

Series A, 5.00%, 10/01/47

     1,615       1,695,802  
   

 

 

  
Missouri — 0.4%            

Health & Educational Facilities Authority of the State of Missouri, RB, 4.00%, 11/15/42

     1,015       968,442  

Kansas City Industrial Development Authority, ARB,

    

Series B, AMT, 5.00%, 03/01/39

     2,505       2,636,908  
   

 

 

  
      3,605,350  
Montana — 0.0%            

City of Kalispell Montana, Refunding RB, Series A, 5.25%, 05/15/37

     170       150,251  
   

 

 

  
Nebraska — 0.4%            

Omaha Public Power District, Refunding RB,
Series A, 4.00%, 02/01/42

     3,645       3,627,023  
   

 

 

  
Nevada — 1.5%            

County of Clark Nevada, GO, Series A, 5.00%, 05/01/48

     2,740       2,892,936  
Security  

Par

(000)

    Value  
Nevada (continued)            

County of Clark Nevada, RB, Subordinate, (AGM), 4.00%, 07/01/40

   $     7,285     $ 7,196,946  

Las Vegas Convention & Visitors Authority, RB,

    

Series B, 4.00%, 07/01/49

     2,000       1,840,718  

Las Vegas Valley Water District, GO, Series A, 4.00%, 06/01/51

     2,910       2,818,760  
   

 

 

  
          14,749,360  
New Hampshire — 0.4%            

New Hampshire Business Finance Authority, Refunding RB(a)(b)

   

Series A, 3.63%, 07/01/43

     265       197,701  

Series B, AMT, 3.75%, 07/01/45

     1,075       812,970  

New Hampshire Housing Finance Authority, RB, M/F Housing, Series 1, 4.00%, 07/01/52

     3,200       2,783,424  
   

 

 

  
      3,794,095  
New Jersey — 8.5%            

Camden County Improvement Authority, RB, 6.00%, 06/15/62

     655       686,787  

Hudson County Improvement Authority, RB, 5.00%, 05/01/46

     1,930       1,995,510  

New Jersey Economic Development Authority, RB

    

Series WW, 5.00%, 06/15/25(c)

    2,690       2,806,889  

Series WW, 5.25%, 06/15/25(c)

    1,125       1,180,165  

AMT, (AGM), 5.00%, 01/01/31

     900       906,379  

AMT, 5.13%, 01/01/34

     1,620       1,626,614  

AMT, 5.38%, 01/01/43

     2,115       2,119,755  

New Jersey Economic Development Authority, Refunding RB

    

Series BBB, 5.50%, 12/15/26(c)

    5,360       5,890,683  

Sub-Series A, 4.00%, 07/01/32

     1,510       1,535,780  

New Jersey Higher Education Student Assistance Authority, RB, Series C, AMT, Subordinate, 4.25%, 12/01/50

     2,135       1,953,151  

New Jersey Higher Education Student Assistance Authority, Refunding RB, Series B, AMT, 4.00%, 12/01/41

     3,180       3,162,783  

New Jersey Housing & Mortgage Finance Agency, Refunding RB, 2nd Series, AMT, 4.35%, 11/01/33

     2,195       2,195,797  

New Jersey Transportation Trust Fund Authority, RB

    

Series A, (NPFGC), 5.75%, 06/15/25

     2,000       2,097,442  

Series A, 0.00%, 12/15/29(d)

    7,530       5,975,078  

Series AA, 5.25%, 06/15/33

     3,525       3,532,469  

Series AA, 5.00%, 06/15/38

     4,325       4,416,383  

Series AA, 4.13%, 06/15/39

     1,210       1,215,558  

Series AA, 5.50%, 06/15/39

     7,190       7,208,406  

Series AA, 4.00%, 06/15/40

     1,060       1,041,981  

Series AA, 4.00%, 06/15/50

     2,000       1,838,148  

Series AA, 5.00%, 06/15/50

     2,650       2,800,409  

Series BB, 4.00%, 06/15/50

     4,900       4,549,528  

Series D, 5.00%, 06/15/32

     1,610       1,658,570  

New Jersey Transportation Trust Fund Authority, Refunding RB, Series A, 5.00%, 12/15/36

     180       192,912  

New Jersey Turnpike Authority, RB

    

Series A, 4.00%, 01/01/42

     1,740       1,737,039  

Series A, 4.00%, 01/01/48

     3,310       3,234,191  

Tobacco Settlement Financing Corp., Refunding RB Series A, 5.00%, 06/01/34

     2,180       2,327,021  
 

 

 

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

   6

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
New Jersey (continued)            

Tobacco Settlement Financing Corp., Refunding RB (continued)

    

Series A, 5.00%, 06/01/35

   $     3,220     $ 3,410,334  

Sub-Series B, 5.00%, 06/01/46

     8,970       8,899,101  
   

 

 

  
          82,194,863  
New Mexico — 0.0%            

City of Santa Fe New Mexico, RB, Series A, 5.00%, 05/15/44

     415       362,614  
   

 

 

  
New York — 10.6%            

City of New York, GO

    

Series A-1, 5.00%, 08/01/47

     930       1,014,649  

Series B, 5.25%, 10/01/41

     1,955       2,232,360  

Metropolitan Transportation Authority, Refunding RB

    

Series B, 5.00%, 11/15/29

     540       566,039  

Series C-1, 5.00%, 11/15/56

     6,550       6,630,775  

New York City Housing Development Corp., RB, M/F Housing, Series I-1, 2.70%, 11/01/55

     1,050       683,767  

New York City Municipal Water Finance Authority, Refunding RB, Series CC, 5.00%, 06/15/47

     7,060       7,076,160  

New York City Transitional Finance Authority Building Aid Revenue, RB, Series S-1, Subordinate, (SAW), 4.00%, 07/15/42

     2,910       2,910,177  

New York City Transitional Finance Authority Future Tax Secured Revenue, RB,
Series F-1, Subordinate, 5.00%, 02/01/42

     7,285       8,051,295  

New York Counties Tobacco Trust IV, Refunding RB, Series A, 6.25%, 06/01/41(b)

    1,100       1,100,163  

New York Liberty Development Corp., Refunding RB

    

Series 1, 5.00%, 11/15/44(b)

    2,630       2,537,385  

Series A, 2.88%, 11/15/46

     3,140       2,230,185  

Series A, (BAM-TCRS), 3.00%, 11/15/51

     7,485       5,250,218  

Series A, 3.00%, 11/15/51

     3,725       2,698,677  

New York Power Authority, Refunding RB

    

Series A, 4.00%, 11/15/55

     2,795       2,644,853  

Series A, 4.00%, 11/15/60

     1,570       1,449,275  

New York State Housing Finance Agency, RB, M/F Housing, Series B, (SONYMA), 3.88%, 11/01/48

     400       341,630  

New York State Thruway Authority, RB,
Series N, 4.00%, 01/01/46

     2,630       2,585,598  

New York State Thruway Authority, Refunding RB, Series B, Subordinate, 4.00%, 01/01/50

     510       482,980  

New York State Urban Development Corp., Refunding RB
4.00%, 03/15/41

     3,300       3,318,873  

4.00%, 03/15/46

     5,960       5,867,280  

New York Transportation Development Corp., ARB

    

AMT, 5.00%, 12/01/36

     1,650       1,761,129  

Series A, AMT, 5.25%, 01/01/50

     6,045       6,060,070  

New York Transportation Development Corp., RB, AMT, 5.00%, 10/01/35

     3,460       3,632,246  

Port Authority of New York & New Jersey, ARB 221st Series, AMT, 4.00%, 07/15/40

     1,000       1,001,361  

Series 221, AMT, 4.00%, 07/15/55

     5,155       4,707,417  

Port Authority of New York & New Jersey, Refunding ARB

    

186th Series, AMT, 5.00%, 10/15/36

     570       584,766  

Series 197, AMT, 5.00%, 11/15/35

     905       955,538  
Security  

Par

(000)

    Value  
New York (continued)            

Port Authority of New York & New Jersey, Refunding ARB (continued)

    

Series 207, AMT, 4.00%, 09/15/43

   $ 1,090     $ 1,068,790  

Triborough Bridge & Tunnel Authority Sales Tax Revenue, RB

    

Series A, 4.13%, 05/15/53

         11,585       11,301,110  

Series A, 4.50%, 05/15/63

     3,500       3,473,137  

Triborough Bridge & Tunnel Authority, RB

    

Series A, 5.00%, 11/15/49

     665       713,227  

Series D-2, Senior Lien, 5.25%, 05/15/47

     6,030       6,804,131  
   

 

 

  
          101,735,261  
North Carolina — 0.1%            

City of Charlotte North Carolina Airport Revenue, Refunding ARB, Series B, AMT, 4.00%, 07/01/51

     790       725,074  

North Carolina Medical Care Commission, RB, 4.00%, 11/01/52

     445       431,685  
   

 

 

  
      1,156,759  
Ohio — 3.1%            

Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55

     18,300       17,052,288  

Northeast Ohio Regional Sewer District, Refunding RB, 4.00%, 11/15/24(c)

    5,320       5,392,182  

Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(b)

    260       239,378  

Ohio Housing Finance Agency, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.00%, 09/01/48

     350       360,158  

Ohio Turnpike & Infrastructure Commission, RB, CAB, Series A-2, Junior Lien, 0.00%, 02/15/37(d)

    10,040       5,993,970  

State of Ohio, Refunding RB, Series A, 4.00%, 01/15/50

     1,055       951,470  
   

 

 

  
      29,989,446  
Oklahoma — 0.4%            

Oklahoma Development Finance Authority, RB,

    

Series B, 5.50%, 08/15/52

     760       706,825  

Oklahoma Turnpike Authority, RB, Series A, 4.00%, 01/01/48

     1,640       1,606,277  

Oklahoma Water Resources Board, RB, 4.00%, 04/01/48(f)

    1,280       1,268,234  

Tulsa County Industrial Authority, Refunding RB, 5.25%, 11/15/37

     450       453,644  
   

 

 

  
      4,034,980  
Oregon — 1.5%            

Clackamas Community College District, GO

    

Series A, 5.00%, 06/15/39

     605       639,094  

Series A, 5.00%, 06/15/40

     440       464,152  

Clackamas County School District No. 12 North Clackamas, GO, CAB, Series A, (GTD), 0.00%, 06/15/38(d)

    2,355       1,220,877  

Port of Portland Oregon Airport Revenue, Refunding ARB, 29th Series, AMT, 5.50%, 07/01/48

     10,745       11,862,179  
   

 

 

  
      14,186,302  
Pennsylvania — 10.5%            

Allegheny County Airport Authority, ARB

    

Series A, AMT, 5.00%, 01/01/51

     3,600       3,691,386  
 

 

 

7  

    

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
Pennsylvania (continued)            

Allegheny County Airport Authority, ARB (continued)

    

Series A, AMT, 5.00%, 01/01/56

   $ 3,925     $ 4,018,910  

Bristol Township School District, GO, (SAW), 5.25%, 06/01/23(c)

    1,500       1,502,351  

Bucks County Industrial Development Authority, RB
4.00%, 07/01/46

     225       174,252  

4.00%, 07/01/51

     200       147,006  

City of Philadelphia Pennsylvania, GO, Series A, (AGM-CR), 4.00%, 05/01/41

     3,515       3,474,859  

Commonwealth Financing Authority, RB, (AGM), 4.00%, 06/01/39

     2,495       2,459,623  

Commonwealth of Pennsylvania, GO, 1st Series, 4.00%, 03/01/36

     6,040       6,250,264  

Montgomery County Higher Education and Health Authority, Refunding RB, Class B, 5.00%, 05/01/57

     4,930       5,065,250  

Pennsylvania Economic Development Financing Authority, RB

    

AMT, 5.00%, 12/31/34

     10,710       10,936,613  

AMT, 5.00%, 12/31/38

         13,195           13,300,652  

AMT, 5.50%, 06/30/41

     3,290       3,557,970  

AMT, 5.00%, 06/30/42

     2,455       2,461,447  

AMT, 5.75%, 06/30/48

     2,855       3,101,898  

Pennsylvania Economic Development Financing Authority, Refunding RB

    

Series A, 4.00%, 11/15/42

     2,245       2,164,232  

AMT, 5.50%, 11/01/44

     1,000       1,000,898  

Pennsylvania Higher Education Assistance Agency, RB, Series B, AMT, Subordinate, 3.00%, 06/01/47

     575       429,651  

Pennsylvania Higher Educational Facilities Authority, RB, 4.00%, 08/15/44

     1,000       975,042  

Pennsylvania Higher Educational Facilities Authority, Refunding RB, Series A, 5.00%, 09/01/45

     6,850       6,918,767  

Pennsylvania Housing Finance Agency, Refunding RB, S/F Housing, Series 119, AMT, 3.50%, 10/01/36

     1,180       1,135,062  

Pennsylvania Turnpike Commission, RB

    

Series A, 5.00%, 12/01/38

     1,480       1,524,039  

Series A-1, 5.00%, 12/01/41

     3,510       3,634,071  

Series B, 5.00%, 12/01/40

     1,375       1,418,512  

Series C, 5.50%, 12/01/23(c)

    1,315       1,332,027  

Series C, 5.00%, 12/01/39

     4,775       4,898,806  

Series B, Subordinate, 4.00%, 12/01/51

     665       623,642  

Sub-Series A-1, Subordinate, 5.00%, 12/01/41

     5,155       5,275,385  

Pennsylvania Turnpike Commission, Refunding RB
3rd Series, 4.00%, 12/01/38

     4,915       4,941,816  

Series A-1, 5.00%, 12/01/40

     1,805       1,852,713  

Philadelphia Authority for Industrial Development, RB, Class A, 4.00%, 07/01/24

     2,900       2,927,959  
   

 

 

  
          101,195,103  
Puerto Rico — 4.8%            

Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB

    

Series A1, Restructured, 4.75%, 07/01/53

     4,709       4,421,002  

Series A-2, Restructured, 4.54%, 07/01/53

     500       452,156  

Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, CAB, Series A1, Restructured, 0.00%, 07/01/46(d)

    16,341       4,443,330  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB

    

Series A1, Restructured, 5.00%, 07/01/58

     15,466       14,873,080  
Security  

Par

(000)

    Value  
Puerto Rico (continued)            

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB (continued)

    

Series A-2, Restructured, 4.78%, 07/01/58

   $ 1,528     $ 1,415,257  

Series A-2, Restructured, 4.33%, 07/01/40

     19,762           18,356,724  

Series B-1, Restructured, 4.75%, 07/01/53

     1,377       1,287,386  

Series B-2, Restructured, 4.78%, 07/01/58

     1,335       1,238,896  
   

 

 

  
      46,487,831  
Rhode Island — 0.3%            

Rhode Island Student Loan Authority, RB,
Series A, AMT, 3.63%, 12/01/37

     820       782,772  

Rhode Island Turnpike & Bridge Authority, Refunding RB, Series A, 5.00%, 10/01/40

         1,105       1,145,939  

Tobacco Settlement Financing Corp., Refunding RB, Series A, 5.00%, 06/01/35

     525       530,738  
   

 

 

  
      2,459,449  
South Carolina — 5.9%            

Charleston County Airport District, ARB(c)

   

Series A, AMT, 5.50%, 07/01/23

     5,225       5,240,311  

Series A, AMT, 6.00%, 07/01/23

     1,955       1,962,079  

County of Berkeley South Carolina, SAB
4.25%, 11/01/40

     485       401,546  

4.38%, 11/01/49

     715       548,334  

County of Charleston South Carolina, ARB, 5.25%, 12/01/23(c)

    2,505       2,533,545  

South Carolina Jobs-Economic Development Authority, RB
5.00%, 11/01/43

     3,090       3,219,938  

5.00%, 01/01/55(b)

    2,290       1,950,022  

7.50%, 08/15/62(b)

    1,455       1,408,642  

South Carolina Jobs-Economic Development Authority, Refunding RB

    

Series A, 5.00%, 05/01/38

     5,885       6,071,825  

Series A, 4.25%, 05/01/48

     1,685       1,558,800  

South Carolina Ports Authority, ARB

    

AMT, 5.00%, 07/01/48

     530       541,907  

AMT, 5.00%, 07/01/55

     2,790       2,843,004  

Series B, AMT, 4.00%, 07/01/49

     2,690       2,455,179  

South Carolina Public Service Authority, RB

    

Series A, 5.50%, 12/01/54

     16,210       16,356,765  

Series A, 4.00%, 12/01/55

     1,950       1,700,135  

Series E, 5.50%, 12/01/53

     1,730       1,738,463  

South Carolina Public Service Authority, Refunding RB, 5.00%, 12/01/38

     4,930       4,952,436  

South Carolina State Housing Finance & Development Authority, RB, S/F Housing, Series B, 4.35%, 07/01/47

     1,690       1,648,773  
   

 

 

  
      57,131,704  
Tennessee — 3.9%            

Greeneville Health & Educational Facilities Board, Refunding RB, Series A, 4.00%, 07/01/40

     3,550       3,389,114  

Metropolitan Nashville Airport Authority, ARB, Series B, AMT, 5.00%, 07/01/52

     3,795       3,936,166  

Tennergy Corp., RB(a)

   

Series A, 4.00%, 12/01/51

     4,650       4,650,191  

Series A, 5.50%, 10/01/53

     3,805       4,093,282  
 

 

 

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

   8

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
Tennessee (continued)            

Tennessee Energy Acquisition Corp., RB, Series A, 5.00%, 05/01/52(a)

  $     12,955     $     13,700,029  

Tennessee Energy Acquisition Corp., Refunding RB, Series A-1, 5.00%, 05/01/53(a)

    7,530       7,796,645  
   

 

 

  
      37,565,427  
Texas — 9.1%            

Arlington Higher Education Finance Corp., RB(b)
7.50%, 04/01/62

     1,545       1,639,988  

7.88%, 11/01/62

     1,335       1,372,949  

Central Texas Turnpike System, RB

    

Series C, 5.00%, 08/15/37

     3,290       3,334,727  

Series C, 5.00%, 08/15/42

     2,325       2,348,389  

City of Austin Texas Airport System Revenue, ARB, AMT, 5.00%, 11/15/44

     1,000       1,007,110  

City of Houston Texas Airport System Revenue, ARB, Series A, AMT, 6.63%, 07/15/38

     1,330       1,330,316  

City of Houston Texas Airport System Revenue, Refunding ARB, AMT, 5.00%, 07/15/27

     765       777,807  

City of Houston Texas Airport System Revenue, Refunding RB

    

Series A, AMT, 5.00%, 07/01/27

     740       753,902  

Sub-Series A, AMT, 4.00%, 07/01/46

     2,780       2,556,321  

Sub-Series A, AMT, 4.00%, 07/01/48

     11,670       10,591,505  

County of Harris Texas Toll Road Revenue, Refunding RB, 1st Lien, 4.00%, 08/15/45

     1,575       1,541,202  

Cypress-Fairbanks Independent School District, GO, (PSF), 4.00%, 02/15/48(f)

    845       830,311  

Dallas Fort Worth International Airport, Refunding RB, Series F, 5.25%, 11/01/33

     2,300       2,325,254  

Fort Worth Independent School District, GO, (PSF), 4.00%, 02/15/48

     1,820       1,791,157  

Harris County Cultural Education Facilities Finance Corp., Refunding RB, 4.00%, 10/01/47

     6,820       6,522,880  

Howe Independent School District, GO, (PSF), 4.00%, 08/15/43

     2,990       2,994,189  

Leander Independent School District, Refunding GO, CAB, Series D, (PSF), 0.00%, 08/15/24(c)(d)

    8,085       3,985,323  

Midland County Fresh Water Supply District No. 1, RB, CAB, Series A, 0.00%, 09/15/27(c)(d)

    5,000       2,842,005  

New Hope Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 08/15/50(b)

    1,210       1,054,445  

North Texas Tollway Authority, Refunding RB, 4.25%, 01/01/49

     3,620       3,563,818  

San Antonio Public Facilities Corp., Refunding RB, Convertible, 4.00%, 09/15/42

     4,435       4,313,578  

San Antonio Water System, Refunding RB, Series A, Junior Lien, 5.00%, 05/15/48

     1,355       1,415,380  

Spring Independent School District, GO, 5.00%, 08/15/45

     1,740       1,930,666  

Tarrant County Cultural Education Facilities Finance Corp., RB
5.00%, 11/15/51

     4,305       4,561,940  

Series A, 4.00%, 07/01/53

     1,895       1,726,021  

Series A, 5.00%, 07/01/53

     2,325       2,420,055  

Series B, 5.00%, 07/01/36

     2,390       2,561,901  

Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, 5.25%, 12/01/39

     1,850       1,871,079  
Security  

Par

(000)

    Value  
Texas (continued)            

Texas City Industrial Development Corp., RB,

    

Series 2012, 4.13%, 12/01/45

   $ 690     $ 602,551  

Texas Department of Housing & Community Affairs, RB, S/F Housing

    

Series A, (GNMA COLL), 4.25%, 09/01/43

     735       732,964  

Series A, (GNMA COLL), 3.75%, 09/01/49

     1,355       1,314,399  

Texas Municipal Gas Acquisition & Supply
Corp. III, Refunding RB, 5.00%, 12/15/32

     5,395       5,707,899  

Texas Private Activity Bond Surface Transportation Corp., RB, AMT, Senior Lien, 5.00%, 12/31/45

     3,020       3,050,852  

Texas Transportation Commission State Highway 249 System, RB, CAB(d)
0.00%, 08/01/35

     310       167,002  

0.00%, 08/01/36

     170       84,997  

0.00%, 08/01/37

     225       104,552  

0.00%, 08/01/38

     810       351,320  

0.00%, 08/01/41

     1,950       699,598  

0.00%, 08/01/44

     1,010       297,605  

0.00%, 08/01/45

         1,775       488,107  
   

 

 

  
          87,566,064  
Utah — 0.6%            

City of Salt Lake City Utah Airport Revenue, ARB

    

Series A, AMT, 5.00%, 07/01/47

     2,935       2,990,994  

Series A, AMT, 5.00%, 07/01/48

     1,055       1,076,721  

Utah Charter School Finance Authority, RB, Series A, 5.00%, 06/15/49(b)

    485       430,218  

Utah Charter School Finance Authority, Refunding RB, 5.00%, 06/15/55(b)

    935       814,662  

Utah Housing Corp., RB, S/F Housing,
Series D2, Class III, 4.00%, 01/01/36

     455       451,992  
   

 

 

  
      5,764,587  
Virginia — 0.8%            

Roanoke Economic Development Authority, Refunding RB, 3.00%, 07/01/45

     3,355       2,642,469  

Tobacco Settlement Financing Corp., Refunding RB, Series B-1, 5.00%, 06/01/47

     4,920       4,616,347  
   

 

 

  
      7,258,816  
Washington — 2.0%            

Port of Seattle Washington, ARB

    

Series C, AMT, 5.00%, 04/01/40

     2,395       2,425,896  

Series C, AMT, Intermediate Lien, 5.00%, 05/01/42

     2,655       2,736,230  

Snohomish County Housing Authority, Refunding RB, 4.00%, 04/01/44

     1,140       1,051,725  

Washington Health Care Facilities Authority, RB, 4.00%, 10/01/45

     1,670       1,529,962  

Washington Health Care Facilities Authority, Refunding RB, 5.00%, 10/01/38

     8,075       8,308,133  

Washington State Housing Finance Commission, RB, M/F Housing, Series A-1, 3.50%, 12/20/35

     3,082       2,894,343  
   

 

 

  
      18,946,289  
Wisconsin — 1.7%            

Public Finance Authority, RB
5.00%, 10/15/41(b)

    570       525,938  

5.00%, 10/15/56(b)

    225       193,276  

Class A, 6.00%, 06/15/52

     505       482,640  

Class A, 6.13%, 06/15/57

     570       548,713  

Series A, 5.00%, 07/15/39(b)

    250       224,246  
 

 

 

9  

    

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  
Wisconsin (continued)            

Public Finance Authority, RB (continued)

    

Series A, 5.00%, 07/01/40(b)

  $ 450     $ 419,743  

Series A, 5.00%, 10/15/40(b)

    1,130       1,064,307  

Series A, 5.00%, 07/15/49(b)

    955       795,688  

Series A, 5.00%, 07/15/54(b)

    455       371,555  

Series A, 5.00%, 10/15/55(b)

        1,545       1,362,376  

Series A-1, 4.50%, 01/01/35(b)

    605       539,332  

Public Finance Authority, Refunding RB(b)
5.00%, 09/01/49

     335       261,461  

5.25%, 05/15/52

     1,015       878,356  

5.00%, 09/01/54

     455       348,815  

Wisconsin Housing & Economic Development Authority Home Ownership Revenue, RB, S/F Housing, Series A, 1.95%, 09/01/32

     450       394,567  

Wisconsin Housing & Economic Development Authority Housing Revenue, RB, M/F Housing

    

Series A, 4.15%, 11/01/48

     5,080       4,771,243  

Series A, 4.45%, 05/01/57

     3,395       3,175,456  
   

 

 

  
      16,357,712  
   

 

 

  
Total Municipal Bonds — 138.6%
(Cost: $1,323,280,205)		             1,334,408,032  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(g)

 

Arizona — 0.9%

    

City of Phoenix Civic Improvement Corp., ARB, AMT, Senior Lien, 5.00%, 07/01/43

     4,000       4,194,486  

Maricopa County Industrial Development Authority, RB, Series A, 4.00%, 01/01/41

     5,085       4,972,955  
   

 

 

  
      9,167,441  
District of Columbia — 0.3%            

District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2, 4.10%, 09/01/39

     3,052       2,977,961  
   

 

 

  
Florida — 1.8%            

City of Tampa Florida Water & Wastewater System Revenue, RB, Series A, 5.25%, 10/01/57

     7,850       8,711,557  

City of Tampa Florida, RB, Series A, 4.00%, 11/15/46

     1,920       1,734,144  

County of Seminole Florida Sales Tax Revenue, Refunding RB, Series B, (NPFGC), 5.25%, 10/01/31

     6,300       7,324,515  
   

 

 

  
      17,770,216  
Illinois — 2.3%            

City of Chicago Illinois Waterworks Revenue, Refunding RB, 2nd Lien, (AGM), 5.25%, 11/01/33

     2,850       2,854,744  

Illinois Finance Authority, Refunding RB, Series A, 5.00%, 08/15/51

     7,124       7,519,738  

Illinois State Toll Highway Authority, RB

    

Series A, 5.00%, 01/01/38

     5,014       5,016,377  

Series A, 5.00%, 01/01/40

     6,459       6,648,864  
   

 

 

  
      22,039,723  
Kansas — 1.3%            

Wyandotte County Unified School District No. 500 Kansas City, GO, Series A, 5.50%, 09/01/47

     11,167       12,161,317  
   

 

 

  
Security  

Par

(000)

    Value  
Michigan — 0.3%            

Michigan State Housing Development Authority, RB, M/F Housing, Series A, 4.05%, 10/01/48

   $ 2,748     $ 2,467,304  
   

 

 

  
New York — 3.7%            

New York City Housing Development Corp., Refunding RB, Series A, 4.15%, 11/01/38

     6,313       6,138,162  

New York City Municipal Water Finance Authority, Refunding RB, Series DD, 5.00%, 06/15/35

     3,945       4,057,924  

New York State Dormitory Authority, Refunding RB, Series A, 4.00%, 03/15/47

     6,600       6,456,308  

Port Authority of New York & New Jersey, Refunding ARB, 5.25%, 10/15/57

     5,090       5,342,721  

Triborough Bridge & Tunnel Authority, RB, Series A, 5.00%, 11/15/51

     7,270       7,797,838  

Triborough Bridge & Tunnel Authority, Refunding RB, Series C, 4.13%, 05/15/52

     5,520       5,533,717  
   

 

 

  
      35,326,670  
Texas — 0.4%            

County of Hidalgo Texas, GO, Series A, 4.00%, 08/15/43

     2,703       2,677,061  

Tarrant County Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 11/15/38

     879       879,755  
   

 

 

  
      3,556,816  
Virginia — 1.2%            

Hampton Roads Transportation Accountability Commission, RB, Series A, 4.00%, 07/01/57

     11,880       11,394,447  
   

 

 

  
Wisconsin — 0.1%            

Wisconsin Housing & Economic Development Authority Housing Revenue, RB, M/F Housing, Series A, 4.30%, 11/01/53

     1,605       1,466,962  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 12.3%
(Cost: $115,828,493)

       118,328,857  
   

 

 

  

Total Long-Term Investments — 150.9%
(Cost: $1,439,108,698)

       1,452,736,889  
   

 

 

  
     Shares         

Short-Term Securities

    

Money Market Funds — 1.2%

    

BlackRock Liquidity Funds, MuniCash, Institutional Class, 3.27%(h)(i)

    11,456,745       11,455,600  
   

 

 

  

Total Short-Term Securities — 1.2%
(Cost: $11,455,903)

       11,455,600  
   

 

 

  

Total Investments — 152.1%
(Cost: $1,450,564,601)

       1,464,192,489  

Other Assets Less Liabilities — 1.5%

 

     14,573,305  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (6.8)%

       (65,786,218 ) 

VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (46.8)%

 

     (450,227,036 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 962,752,540  
   

 

 

  
 

 

 

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

   10

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

 

(a) 

Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

(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.

(c) 

U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

(d) 

Zero-coupon bond.

(e) 

Security is collateralized by municipal bonds or U.S. Treasury obligations.

(f) 

When-issued security.

(g) 

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.

(h) 

Affiliate of the Fund.

(i) 

Annualized 7-day yield as of period end.

 

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

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

 

  
Affiliated Issuer   Value at
07/31/22		     Purchases
at Cost		     Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Appreciation
(Depreciation)		     Value at
04/30/23		    

Shares

Held at
04/30/23

     Income     Capital Gain
Distributions
from
Underlying
Funds		  

 

  

BlackRock Liquidity Funds, MuniCash, Institutional Class

   $ 1,416,913     $ 10,037,094 (a)    $ —     $ 1,897     $ (304 )    $  11,455,600       11,456,745     $ 209,860     $ —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 

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

     201        06/21/23      $ 23,206      $ (729,827 ) 

U.S. Long Bond

     278        06/21/23        36,661        (1,403,954 ) 

5-Year U.S. Treasury Note

     191        06/30/23        21,001        (511,699 ) 
          

 

 

  
           $ (2,645,480 ) 
          

 

 

  

Fair Value Hierarchy as of Period End

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

 

  •  

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

 

  •  

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

 

  •  

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).

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

 

 

11  

    

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

 

Fair Value Hierarchy as of Period End (continued)

pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

 

  
     Level 1        Level 2                Level 3        Total  

 

  

Assets

                  

Investments

                  

Long-Term Investments

                  

Municipal Bonds

    $ —        $ 1,334,408,032        $ —        $ 1,334,408,032  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —          118,328,857          —          118,328,857  

Short-Term Securities

                  

Money Market Funds

      11,455,600          —          —          11,455,600  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $     11,455,600        $   1,452,736,889        $ —        $   1,464,192,489  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(a)

                 

Liabilities

                  

Interest Rate Contracts

    $ (2,645,480 )       $ —        $ —        $ (2,645,480 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

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

 

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

 

 

  
             Level 1        Level 2                Level 3        Total  

 

  

Liabilities

                  

TOB Trust Certificates

    $ —        $ (65,255,810 )       $ —        $ (65,255,810 ) 

VRDP Shares at Liquidation Value

      —          (450,300,000 )         —          (450,300,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ —        $ (515,555,810 )       $ —        $ (515,555,810 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviation
AGC    Assured Guaranty Corp.
AGM    Assured Guaranty Municipal Corp.
AGM-CR    AGM Insured Custodial Receipt
AMBAC    AMBAC Assurance Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAM    Build America Mutual Assurance Co.
BAM-TCRS   

Build America Mutual Assurance Co.- Transferable Custodial Receipts

BHAC-CR   

Berkshire Hathaway Assurance Corp. - Custodian Receipt

CAB    Capital Appreciation Bonds
COP    Certificates of Participation
CR    Custodian Receipt
FGIC    Financial Guaranty Insurance Co.
FHLMC    Federal Home Loan Mortgage Corp.
FNMA    Federal National Mortgage Association
GNMA    Government National Mortgage Association
GO    General Obligation Bonds
GTD    GTD Guaranteed
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
Portfolio Abbreviation (continued)
NPFGC-IBC   

National Public Finance Guarantee Corp. — Insured Bond Certificate

PSF    Permanent School Fund
RB    Revenue Bond
S/F    Single-Family
SAB    Special Assessment Bonds
SAP    Subject to Appropriations
SAW    State Aid Withholding
SONYMA    State of New York Mortgage Agency
ST    Special Tax
TA    Tax Allocation
 

 

 

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

   12