NPORT-EX 2 NPORT_LCQV_12213076_1022.htm BlackRock MuniYield Michigan Quality Fund

Schedule of Investments (unaudited) 

October 31, 2022

   

BlackRock MuniYield Michigan Quality Fund, Inc. (MIY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds

 

Michigan — 156.1%

 

County/City/Special District/School District — 31.6%  

Battle Creek School District, Refunding GO, (Q-SBLF), 5.00%, 05/01/37

   $     1,170     $   1,197,824  

Berkley School District, GO, (Q-SBLF), 5.00%, 05/01/35

     2,965       3,024,445  

Byron Center Public Schools, GO

    

Series I, (Q-SBLF), 5.00%, 05/01/43

     4,475       4,553,536  

Series I, (Q-SBLF), 5.00%, 05/01/47

     740       750,171  

Columbia School District, GO, (Q-SBLF), 5.00%, 11/01/23(a)

    5,185       5,273,985  

Coopersville Area Public Schools, GO

    

Series I, (Q-SBLF), 4.50%, 05/01/41

     425       411,825  

Series I, (Q-SBLF), 4.50%, 05/01/43

     320       305,741  

Series I, (Q-SBLF), 4.00%, 05/01/45

     850       729,092  

Series I, (Q-SBLF), 4.00%, 05/01/48

     745       627,227  

Series I, (Q-SBLF), 4.13%, 05/01/52

     1,000       836,298  

County of Saginaw Michigan, GO, 4.00%, 11/01/42

     2,000       1,729,782  

Dearborn School District, GO, Series A, (Q-SBLF), 5.00%, 11/01/23(a)

     4,300       4,373,796  

Dowagiac Union School District, GO, (Q-SBLF), 5.00%, 05/01/41

     1,140       1,158,108  

Farmington Public School District, Refunding GO

    

(AGM), 5.00%, 05/01/33

     1,500       1,549,487  

(AGM), 5.00%, 05/01/34

     1,500       1,542,392  

(AGM), 5.00%, 05/01/35

     1,000       1,022,492  

Fraser Public School District, Refunding GO

    

(Q-SBLF), 5.00%, 05/01/43

     2,000       2,043,722  

(Q-SBLF), 5.00%, 05/01/47

     3,225       3,283,169  

Gibraltar School District, GO, (Q-SBLF), 5.00%, 05/01/36

     750       781,438  

Grandville Public Schools, GO

    

Series I, (AGM), 4.00%, 05/01/38

     910       855,190  

Series II, (AGM), 5.00%, 05/01/40

     3,250       3,308,094  

Gull Lake Community School District, GO, Series I, (Q-SBLF), 5.00%, 05/01/45

     4,000       4,095,216  

Hudsonville Public Schools, GO

    

Series I, (Q-SBLF), 4.00%, 05/01/43

     1,875       1,659,868  

Series I, (Q-SBLF), 4.00%, 05/01/44

     1,950       1,713,252  

Jackson Public Schools, GO, (Q-SBLF), 5.00%, 05/01/42

     4,000       4,098,832  

Kentwood Public Schools, GO 5.00%, 05/01/41

     1,120       1,140,041  

5.00%, 05/01/44

     1,815       1,840,751  

Lake Orion Community School District, GO

    

(Q-SBLF), 4.00%, 05/01/38

     750       689,861  

(Q-SBLF), 4.00%, 05/01/39

     1,000       911,852  

(Q-SBLF), 4.00%, 05/01/40

     1,000       904,109  

Lowell Area Schools, GO

    

Series I, (Q-SBLF), 5.00%, 05/01/47

     1,500       1,526,045  

Series I, (Q-SBLF), 5.00%, 05/01/49

     1,750       1,777,034  

Ludington Area School District, GO

    

Series II, (BAM Q-SBLF), 4.00%, 11/01/39

     1,925       1,824,511  

Series II, (BAM Q-SBLF), 4.00%, 11/01/40

     1,975       1,856,818  

Series II, (BAM Q-SBLF), 4.00%, 11/01/44

     2,015       1,834,688  

Michigan Finance Authority, RB 5.00%, 11/01/34

     215       224,077  

5.00%, 11/01/38

     2,500       2,569,625  

5.00%, 11/01/43

     4,000       4,060,888  

Series H-1, 5.00%, 10/01/39

     5,400       5,454,583  

Mona Shores Public Schools, GO

    

Series I, (Q-SBLF), 5.00%, 05/01/42

     1,000       1,028,586  
Security   Par
(000)		     Value  
County/City/Special District/School District (continued)  

Mona Shores Public Schools, GO (continued)

    

Series I, (Q-SBLF), 5.00%, 05/01/43

   $     1,025     $ 1,052,323  

Series I, (Q-SBLF), 5.00%, 05/01/44

     1,525       1,561,871  

Novi Community School District, GO, Series II, 4.00%, 05/01/47

     1,150       975,942  

Portage Public Schools, GO, 4.00%, 11/01/44

     3,940       3,433,891  

Swartz Creek Community Schools, GO, (Q-SBLF), 5.00%, 05/01/44

     4,270       4,369,743  

Walled Lake Consolidated School District, GO

    

(Q-SBLF), 5.00%, 11/01/23(a)

    5,480       5,574,048  

(Q-SBLF), 5.00%, 05/01/47

     4,015       4,120,860  

(Q-SBLF), 5.00%, 05/01/49

     2,500       2,554,813  

West Ottawa Public Schools, GO

    

(AGM), 4.00%, 11/01/39

     1,105       1,015,515  

(AGM), 4.00%, 11/01/40

     800       728,455  

(AGM), 4.00%, 11/01/41

     845       761,111  

(AGM), 4.00%, 11/01/46

     3,455       2,995,969  

Zeeland Public Schools, GO

    

Series A, (AGM), 5.00%, 05/01/25(a)

    2,000       2,080,824  

Series A, (AGM), 5.00%, 05/01/33

     1,000       1,025,747  
   

 

 

  
        110,819,563  
Education — 32.8%  

Eastern Michigan University, RB, Series A, (AGM), 4.00%, 03/01/44

     10,000       8,910,680  

Grand Valley State University, RB, 5.00%, 12/01/43

     1,600       1,630,058  

Lake Superior State University, RB, (AGM), 5.00%, 01/15/48

     3,750       3,795,364  

Michigan Finance Authority, Refunding RB 4.00%, 02/01/29

     700       639,284  

5.00%, 02/01/33

     830       781,533  

4.00%, 12/01/33

     1,720       1,589,239  

5.00%, 12/01/36

     1,550       1,550,150  

5.00%, 09/01/40

     1,000       893,978  

5.00%, 12/01/40

     2,900       2,883,841  

5.00%, 12/01/45

     4,400       4,208,217  

4.00%, 09/01/46

     1,750       1,412,311  

Series 25-A, AMT, 4.00%, 11/01/28

     8,750       8,346,362  

Series 25-A, AMT, 4.00%, 11/01/29

     5,900       5,591,926  

Series 25-A, AMT, 4.00%, 11/01/30

     2,850       2,727,772  

Series 25-A, AMT, 4.00%, 11/01/31

     3,150       2,983,806  

Michigan State University, RB, Series B, 5.00%, 02/15/44

     5,750       5,913,858  

Michigan State University, Refunding RB, Series C, 4.00%, 02/15/44

     2,275       1,991,539  

Michigan Technological University, RB, Series A, 5.00%, 10/01/45

     1,800       1,813,522  

Michigan Technological University, Refunding RB 5.00%, 10/01/32

     1,250       1,356,679  

5.00%, 10/01/33

     1,325       1,420,503  

5.00%, 10/01/34

     1,400       1,488,987  

Oakland University, RB, 5.00%, 03/01/41

     3,635       3,679,191  

University of Michigan, RB, Series A, 5.00%, 04/01/24(a)

    3,425       3,506,553  

Wayne State University, RB

    

Series A, 5.00%, 11/15/40

     13,000       13,061,061  

Series A, 4.00%, 11/15/48

     2,000       1,692,750  

Western Michigan University, RB, Series A, (AGM), 5.00%, 11/15/51

     5,000       5,075,410  

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

    1,750       1,781,124  

5.25%, 11/15/23(a)

    8,475       8,647,144  
 

 

 

1

  

Schedule of Investments (unaudited) (continued)

October 31, 2022

   

BlackRock MuniYield Michigan Quality Fund, Inc. (MIY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Education (continued)            

Western Michigan University, Refunding RB (continued)

    

(AGM), 5.25%, 11/15/23(a)

  $ 1,000     $ 1,020,312  

5.00%, 11/15/49

       14,330       14,640,244  
   

 

 

  
        115,033,398  
Health — 32.6%  

Grand Traverse County Hospital Finance Authority, RB

    

Series A, 5.00%, 07/01/44

     4,230       4,116,670  

Series A, 5.00%, 07/01/47

     2,200       2,095,623  

Series A, 5.00%, 07/01/49

     2,610       2,458,897  

Series B, 4.00%, 07/01/49

     2,000       1,579,930  

Kalamazoo Economic Development Corp., Refunding RB 5.00%, 05/15/32

     805       731,531  

5.00%, 05/15/42

     425       356,923  

Kentwood Economic Development Corp., RB, 4.00%, 11/15/45

     750       575,804  

Kentwood Economic Development Corp., Refunding RB, 5.00%, 11/15/41

     2,335       2,136,798  

Michigan Finance Authority, RB

    

Series S, 5.00%, 11/01/44

     2,000       1,958,328  

Series S, 4.00%, 11/01/46

     1,025       844,091  

Michigan Finance Authority, Refunding RB 5.00%, 04/15/37

     2,000       2,089,442  

5.00%, 11/15/37

     3,000       3,001,353  

5.00%, 04/15/38

     3,120       3,232,192  

5.00%, 11/15/41

     1,000       982,803  

4.00%, 04/15/42

     3,210       2,799,913  

5.00%, 11/15/45

     3,750       3,649,567  

5.00%, 12/01/45

     21,445       20,933,172  

4.00%, 11/15/46

     8,500       6,902,161  

Series 2, 4.00%, 03/01/51

     6,000       4,816,752  

Series A, 4.00%, 12/01/49

     1,500       1,227,286  

Series S, 5.00%, 05/15/32

     1,000       1,024,227  

Series S, 5.00%, 05/15/33

     2,000       2,038,976  

Series S, 5.00%, 05/15/34

     6,500       6,601,991  

Series S, 5.00%, 05/15/35

     4,945       5,009,414  

Michigan State Hospital Finance Authority, Refunding RB
5.00%, 11/15/46

     2,235       2,174,199  

5.00%, 11/15/47

     1,915       1,852,743  

Michigan Strategic Fund, Refunding RB, 5.00%, 11/15/43

     1,220       1,105,269  

Royal Oak Hospital Finance Authority, Refunding RB, Series D, 5.00%, 03/01/24(a)

    27,365       27,975,567  
   

 

 

  
      114,271,622  
Housing — 8.9%  

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

    

Series A, 4.45%, 10/01/34

     1,000       989,615  

Series A, 4.63%, 10/01/39

     3,490       3,392,088  

Series A, 4.30%, 10/01/40

     3,320       3,112,158  

Series A, 4.00%, 10/01/43

     7,420       6,473,001  

Series A, 4.75%, 10/01/44

     5,000       4,783,805  

Series A, 2.45%, 10/01/46

     5,000       3,116,610  

Series D, 5.50%, 06/01/53(b)

    6,580       6,795,712  

AMT, (GNMA), 4.75%, 04/20/37

     2,725       2,623,499  
   

 

 

  
      31,286,488  
State — 24.3%  

Michigan Finance Authority, RB

    

Series F, 5.00%, 04/01/31

     1,000       1,001,239  

Series F, 5.25%, 10/01/41

     8,595       8,599,177  
Security   Par
(000)		     Value  
State (continued)            

Michigan State Building Authority, Refunding RB

    

Series I, 4.00%, 10/15/40

   $ 3,300     $ 2,930,064  

Series I, 5.00%, 04/15/41

     4,750       4,849,237  

Series I, 4.00%, 10/15/46

     4,250       3,638,497  

Series I, 5.00%, 10/15/47

     5,000       5,151,475  

Series I, 4.00%, 10/15/49

     7,000       5,938,919  

Michigan Strategic Fund, RB

    

Series A, 5.25%, 10/15/40

     3,000       3,064,794  

AMT, (AGM), 4.25%, 12/31/38

     14,000       11,802,560  

AMT, 5.00%, 12/31/43

     15,000       13,268,235  

State of Michigan Trunk Line Revenue, RB 4.00%, 11/15/44

       25,910         22,888,246  

Series B, 4.00%, 11/15/45

     2,000       1,791,888  
   

 

 

  
      84,924,331  
Tobacco — 1.4%  

Michigan Finance Authority, Refunding RB

    

Series A, Class 1, 4.00%, 06/01/40

     1,250       1,057,952  

Series B-2, Class 2, 0.00%, 06/01/65(c)

    50,000       3,690,350  
   

 

 

  
      4,748,302  
Transportation — 9.2%  

Gerald R Ford International Airport Authority, ARB, AMT, (GTD), 5.00%, 01/01/51

     8,435       8,488,782  

Wayne County Airport Authority, ARB

    

Series A, 5.00%, 12/01/42

     1,000       1,004,953  

Series D, 5.00%, 12/01/35

     3,850       3,907,492  

Series D, 5.00%, 12/01/45

     7,500       7,251,232  

Series B, AMT, 5.00%, 12/01/42

     1,000       968,916  

Series B, AMT, 5.00%, 12/01/47

     1,250       1,166,934  

Series C, AMT, 5.00%, 12/01/39

     1,475       1,452,310  

Wayne County Airport Authority, Refunding ARB, Series F, AMT, 5.00%, 12/01/34

     8,000       8,001,264  
   

 

 

  
      32,241,883  
Utilities — 15.3%  

City of Detroit Michigan Water Supply System Revenue, RB, Series A, Senior Lien, (NPFGC), 5.00%, 07/01/34

     10       10,012  

Downriver Utility Wastewater Authority, Refunding RB, (AGM), 5.00%, 04/01/43

     1,000       1,017,024  

Great Lakes Water Authority Sewage Disposal System Revenue, RB, Series A, Senior Lien, 5.25%, 07/01/47

     8,000       8,248,776  

Great Lakes Water Authority Water Supply System Revenue, RB

    

Series B, 2nd Lien, 5.00%, 07/01/46

     10,000       10,029,610  

Series A, Senior Lien, 5.00%, 07/01/45

     1,750       1,761,351  

Karegnondi Water Authority, Refunding RB 5.00%, 11/01/41

     2,750       2,781,818  

5.00%, 11/01/45

     3,000       3,013,239  

Lansing Board of Water & Light, Refunding RB, Series A, 5.00%, 07/01/48

     14,000       14,132,888  

Michigan Finance Authority, Refunding RB

    

Series D-1, 5.00%, 07/01/34

     2,000       2,046,718  

Series D-1, 5.00%, 07/01/35

     750       764,238  

Series C-3, Senior Lien, (AGM), 5.00%, 07/01/31

     1,000       1,024,566  

Series C-3, Senior Lien, (AGM), 5.00%, 07/01/32

     5,250       5,326,949  

Series C-3, Senior Lien, (AGM), 5.00%, 07/01/33

     3,000       3,064,113  

Michigan Strategic Fund, RB, AMT, 4.00%, 10/01/61(d)

    445       423,114  
   

 

 

  
      53,644,416  
   

 

 

  

Total Municipal Bonds in Michigan

       546,970,003  
 

 

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)

October 31, 2022

   

BlackRock MuniYield Michigan Quality Fund, Inc. (MIY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Puerto Rico — 4.5%            
State — 4.5%            

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

    

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

   $ 534     $ 446,712  

Series A-1, Restructured, 5.00%, 07/01/58

     825       705,805  

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

     103       85,413  

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

     1,109       941,020  

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

     616       512,736  

Series B-1, Restructured, 5.00%, 07/01/58

       7,451       6,382,661  

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

     5,880       4,948,096  

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

     597       492,467  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(c)

    6,202       1,345,970  
   

 

 

  

Total Municipal Bonds in Puerto Rico

 

     15,860,880  
   

 

 

  

Total Municipal Bonds — 160.6%
(Cost: $610,463,377)

 

     562,830,883  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(e)

 

Michigan — 6.8%  
Education — 2.5%  

Wayne State University, RB, Series A, 5.00%, 11/15/43(f)

    8,530       8,680,018  
   

 

 

  
Health — 2.8%  

Michigan Finance Authority, RB, Series A, 5.00%, 11/01/44

     10,002       9,793,655  
   

 

 

  
State — 1.5%  

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

     5,150       5,206,094  
   

 

 

  

Total Municipal Bonds in Michigan

       23,679,767  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 6.8%
(Cost: $25,039,448)

 

     23,679,767  
   

 

 

  

Total Long-Term Investments — 167.4%
(Cost: $635,502,825)

         586,510,650  
   

 

 

  
Security       
Shares		     Value  
Short-Term Securities  

Money Market Funds —

 

BlackRock Liquidity Funds, MuniCash, Institutional Class, 1.83%(g)(h)

    1     $ 1  
   

 

 

  

Total Short-Term Securities — 0.0%
(Cost: $1)

 

     1  
   

 

 

  

Total Investments — 167.4%
(Cost: $635,502,826)

 

     586,510,651  

Other Assets Less Liabilities — 2.5%

 

     8,742,629  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (3.8)%

 

     (13,320,400 ) 

VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (66.1)%

 

     (231,544,866 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $   350,388,014  
 

 

 

  

 

(a) 

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

(b) 

When-issued security.

(c) 

Zero-coupon bond.

(d) 

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.

(e) 

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.

(f) 

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 November 15, 2026, is $5,904,172.

(g) 

Affiliate of the Fund.

(h) 

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 October 31, 2022 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
10/31/22		      Shares
Held at
10/31/22		      Income      Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, MuniCash, Institutional Class

    $ 2,981,267      $ —      $ (2,981,885 )(a)     $ 714      $ (95 )     $ 1        1      $ 12,939      $ —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  

 

  (a) 

 Represents net amount purchased (sold).

 

 

 

3

  

Schedule of Investments (unaudited) (continued)

October 31, 2022

   

BlackRock MuniYield Michigan Quality Fund, Inc. (MIY)

 

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

      79          12/20/22        $    8,744   $ 119,835  

U.S. Long Bond

      128          12/20/22        15,472     651,994  

5-Year U.S. Treasury Note

      79          12/30/22        8,425     82,998  
              

 

 

  
               $ 854,827  
              

 

 

  

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 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

    $ —        $ 562,830,883        $ —        $ 562,830,883  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —          23,679,767          —          23,679,767  

Short-Term Securities

                  

Money Market Funds

      1          —          —          1  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 1        $ 586,510,650        $ —        $ 586,510,651  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(a)

                 

Assets

                  

Interest Rate Contracts

    $     854,827        $ —        $ —        $ 854,827  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (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

    $ —        $ (13,262,058 )       $ —        $ (13,262,058 ) 

VRDP Shares at Liquidation Value

      —          (231,900,000 )         —          (231,900,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ —        $ (245,162,058 )       $ —        $ (245,162,058 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

 

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)

October 31, 2022

   

BlackRock MuniYield Michigan Quality Fund, Inc. (MIY)

 

Portfolio Abbreviation
AGM    Assured Guaranty Municipal Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAM    Build America Mutual Assurance Co.
CAB    Capital Appreciation Bonds
GNMA    Government National Mortgage Association
GO    General Obligation Bonds
GTD    GTD Guaranteed
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
Q-SBLF    Qualified School Bond Loan Fund
RB    Revenue Bond

 

 

5