| Schedule of Investments (unaudited) July 31, 2021 |
BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Municipal Bonds |
| |||||||
| Alabama — 1.5% |
| |||||||
| County of Jefferson Alabama Sewer Revenue, Refunding RB, Series D, Sub Lien, 6.00%, 10/01/42 |
$ | 3,745 | $ | 4,284,018 | ||||
| Hoover Industrial Development Board, RB, AMT, 6.38%, 11/01/50(a) |
2,725 | 3,628,119 | ||||||
| Tuscaloosa County Industrial Development Authority, Refunding RB(b) |
||||||||
| Series A, 4.50%, 05/01/32 |
353 | 384,238 | ||||||
| Series A, 5.25%, 05/01/44 |
385 | 442,369 | ||||||
|
|
|
|||||||
| 8,738,744 | ||||||||
| Arizona — 3.1% | ||||||||
| Arizona Industrial Development Authority, RB(b) |
||||||||
| 7.10%, 01/01/55 |
1,790 | 1,833,300 | ||||||
| Series A, 5.00%, 12/15/39 |
250 | 294,415 | ||||||
| Series B, 5.13%, 07/01/47 |
665 | 753,970 | ||||||
| Arizona Industrial Development Authority, Refunding RB(b) |
||||||||
| Series A, 5.13%, 07/01/37 |
960 | 1,112,515 | ||||||
| Series A, 5.25%, 07/01/47 |
1,765 | 2,021,631 | ||||||
| Series A, 5.50%, 07/01/52 |
1,775 | 1,930,969 | ||||||
| Glendale Industrial Development Authority, RB |
||||||||
| 5.00%, 05/15/41 |
100 | 115,779 | ||||||
| 5.00%, 05/15/56 |
405 | 459,708 | ||||||
| Industrial Development Authority of the City of Phoenix, RB(b) |
||||||||
| Series A, 6.50%, 07/01/34 |
570 | 660,653 | ||||||
| Series A, 6.75%, 07/01/44 |
1,000 | 1,172,300 | ||||||
| Industrial Development Authority of the City of Phoenix, Refunding RB(b) |
||||||||
| 5.00%, 07/01/35 |
625 | 699,457 | ||||||
| 5.00%, 07/01/45 |
1,425 | 1,578,591 | ||||||
| Series A, 5.00%, 07/01/35 |
260 | 292,778 | ||||||
| Industrial Development Authority of the County of Pima, Refunding RB, 5.00%, 07/01/56(b) |
480 | 539,429 | ||||||
| La Paz County Industrial Development Authority, RB, |
||||||||
| 5.88%, 06/15/48(b) |
875 | 955,509 | ||||||
| Maricopa County Industrial Development Authority, RB(b) |
||||||||
| 5.25%, 10/01/40 |
465 | 526,664 | ||||||
| 5.50%, 10/01/51 |
465 | 526,055 | ||||||
| Salt Verde Financial Corp., RB, |
1,650 | 2,354,385 | ||||||
|
|
|
|||||||
| 17,828,108 | ||||||||
| Arkansas(b) — 1.8% | ||||||||
| Arkansas Development Finance Authority, RB |
||||||||
| Series A, AMT, 4.50%, 09/01/49 |
2,815 | 3,165,383 | ||||||
| Series A, AMT, 4.75%, 09/01/49 |
6,090 | 7,037,117 | ||||||
|
|
|
|||||||
| 10,202,500 | ||||||||
| California — 5.0% | ||||||||
| California Community Housing Agency, RB, M/F Housing(b) |
||||||||
| Series A, 5.00%, 04/01/49 |
240 | 275,057 | ||||||
| Series A-2, 4.00%, 08/01/47 |
1,550 | 1,715,881 | ||||||
| California Municipal Finance Authority, RB(b) |
||||||||
| Series A, 5.50%, 08/01/34 |
295 | 319,992 | ||||||
| Series A, 6.00%, 08/01/44 |
665 | 721,459 | ||||||
| Series A, 6.13%, 08/01/49 |
580 | 627,896 | ||||||
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
| California Public Finance Authority, RB, Series A, 6.25%, 07/01/54(b) |
$ | 1,780 | $ | 2,074,626 | ||||
| California School Finance Authority, RB |
||||||||
| 6.65%, 07/01/33 |
435 | 478,261 | ||||||
| 6.90%, 07/01/43 |
975 | 1,068,278 | ||||||
| Series A, 6.40%, 07/01/48 |
1,570 | 1,723,609 | ||||||
| California Statewide Communities Development Authority, RB, 5.25%, 12/01/38(b) |
580 | 708,766 | ||||||
| California Statewide Financing Authority, RB, Series B, 6.00%, 05/01/43 |
1,650 | 1,654,537 | ||||||
| City of San Jose California Hotel Tax Revenue, RB |
||||||||
| 6.50%, 05/01/36 |
900 | 903,510 | ||||||
| 6.50%, 05/01/42 |
2,220 | 2,228,503 | ||||||
| CMFA Special Finance Agency I, RB, M/F Housing, Series A, 4.00%, 04/01/56(b) |
3,300 | 3,616,140 | ||||||
| CSCDA Community Improvement Authority, RB, M/F Housing(b) |
||||||||
| 2.65%, 12/01/46 |
1,080 | 1,117,022 | ||||||
| 3.00%, 12/01/56 |
890 | 924,051 | ||||||
| 4.00%, 12/01/56 |
1,385 | 1,538,680 | ||||||
| Golden State Tobacco Securitization Corp., Refunding RB |
||||||||
| Series A-1, 5.25%, 06/01/47 |
610 | 631,771 | ||||||
| Series A-2, 5.00%, 06/01/47 |
790 | 816,552 | ||||||
| Hastings Campus Housing Finance Authority, RB, CAB, Sub-Series A, 6.75%, 07/01/61(b)(c) |
1,705 | 1,054,594 | ||||||
| Riverside County Transportation Commission, RB, Series A, Senior Lien, 5.75%, 06/01/48 |
2,885 | 3,157,777 | ||||||
| San Francisco City & County Redevelopment Agency Successor Agency, TA, CAB(b)(d) |
||||||||
| Series D, 0.00%, 08/01/26 |
1,250 | 989,912 | ||||||
| Series D, 0.00%, 08/01/43 |
1,500 | 506,340 | ||||||
|
|
|
|||||||
| 28,853,214 | ||||||||
| Colorado — 2.0% | ||||||||
| 9th Avenue Metropolitan District No.2, GO, |
910 | 978,268 | ||||||
| Arista Metropolitan District, Refunding GO, Series A, 5.00%, 12/01/38 |
1,240 | 1,341,420 | ||||||
| Banning Lewis Ranch Metropolitan District No. 8, GO, 4.88%, 12/01/51(b) |
665 | 665,293 | ||||||
| Centerra Metropolitan District No.1, TA, |
575 | 603,963 | ||||||
| Green Valley Ranch East Metropolitan District No.6, GO, Series A, 5.88%, 12/01/50 |
935 | 1,019,225 | ||||||
| Karl’s Farm Metropolitan District No.2, GO, Series A, 5.63%, 12/01/50(b) |
545 | 602,448 | ||||||
| Loretto Heights Community Authority, RB, 4.88%, 12/01/51 |
790 | 820,810 | ||||||
| North Holly Metropolitan District, GO, |
500 | 536,465 | ||||||
| Palisade Metropolitan District No.2, GO, Subordinate, 7.25%, 12/15/49 |
1,211 | 1,327,244 | ||||||
| Prairie Farm Metropolitan District, GO, |
760 | 813,724 | ||||||
| Pueblo Urban Renewal Authority, TA, |
1,365 | 1,583,209 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
1 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Colorado (continued) | ||||||||
| Southlands Metropolitan District No.1, Refunding GO, Series A-1, 5.00%, 12/01/47 |
$ | 410 | $ | 464,341 | ||||
| Waters’ Edge Metropolitan District No.2, GO, 5.00%, 12/01/51 |
790 | 802,995 | ||||||
|
|
|
|||||||
| 11,559,405 | ||||||||
| Connecticut(b) — 0.9% | ||||||||
| Connecticut State Health & Educational Facilities Authority, RB |
||||||||
| Series A, 5.00%, 01/01/45 |
325 | 359,392 | ||||||
| Series A, 5.00%, 01/01/55 |
435 | 476,316 | ||||||
| Mohegan Tribal Finance Authority, RB, |
1,390 | 1,477,987 | ||||||
| Mohegan Tribe of Indians of Connecticut, RB, Series A, 6.75%, 02/01/45 |
963 | 978,100 | ||||||
| Mohegan Tribe of Indians of Connecticut, Refunding RB, Series C, 6.25%, 02/01/30 |
1,835 | 2,103,809 | ||||||
|
|
|
|||||||
| 5,395,604 | ||||||||
| District of Columbia — 0.6% | ||||||||
| District of Columbia Tobacco Settlement Financing Corp., RB, CAB, |
15,400 | 3,406,788 | ||||||
|
|
|
|||||||
| Florida — 10.3% | ||||||||
| Boggy Creek Improvement District, Refunding SAB, Series 2013, 5.13%, 05/01/43 |
1,335 | 1,391,764 | ||||||
| Brevard County Health Facilities Authority, Refunding RB(b) |
||||||||
| 4.00%, 11/15/23 |
125 | 131,865 | ||||||
| 4.00%, 11/15/24 |
440 | 472,336 | ||||||
| 4.00%, 11/15/25 |
460 | 500,107 | ||||||
| 4.00%, 11/15/27 |
495 | 547,049 | ||||||
| 4.00%, 11/15/29 |
435 | 480,636 | ||||||
| 4.00%, 11/15/32 |
450 | 495,198 | ||||||
| 4.00%, 11/15/35 |
675 | 727,994 | ||||||
| Capital Region Community Development District, Refunding SAB, |
1,495 | 1,689,335 | ||||||
| Capital Trust Agency, Inc., RB |
||||||||
| 8.25%, 01/01/44 |
515 | 10,300 | ||||||
| 8.25%, 01/01/49 |
1,105 | 22,100 | ||||||
| Series A, 5.75%, 06/01/54(b) |
940 | 1,017,776 | ||||||
| Capital Trust Agency, Inc., RB, CAB, |
53,225 | 6,396,580 | ||||||
| Charlotte County Industrial Development Authority, RB(b) |
||||||||
| AMT, 5.00%, 10/01/34 |
245 | 277,210 | ||||||
| AMT, 5.00%, 10/01/49 |
1,170 | 1,295,330 | ||||||
| Collier County Industrial Development Authority, Refunding RB, |
630 | 485,578 | ||||||
| County of Osceola Florida Transportation Revenue, Refunding RB, CAB(d) |
||||||||
| Series A-2, 0.00%, 10/01/50 |
730 | 282,817 | ||||||
| Series A-2, 0.00%, 10/01/51 |
875 | 325,238 | ||||||
| Series A-2, 0.00%, 10/01/52 |
875 | 312,795 | ||||||
| Series A-2, 0.00%, 10/01/53 |
2,325 | 798,963 | ||||||
| Series A-2, 0.00%, 10/01/54 |
875 | 289,048 | ||||||
| Florida Development Finance Corp., RB |
||||||||
| Series A, 5.75%, 06/15/29 |
690 | 748,036 | ||||||
| Series A, 6.00%, 06/15/34 |
835 | 905,716 | ||||||
| Series A, 6.13%, 06/15/44 |
3,180 | 3,433,637 | ||||||
| Series A, 5.13%, 06/15/55(b) |
3,645 | 3,848,646 | ||||||
| Series A, AMT, 5.00%, 08/01/29(a)(b) |
1,550 | 1,602,932 | ||||||
| Security | Par (000) |
Value | ||||||
| Florida (continued) | ||||||||
| Florida Development Finance Corp., RB (continued) |
||||||||
| Series B, AMT, 7.38%, 01/01/49(b) |
$ | 1,360 | $ | 1,499,386 | ||||
| Florida Development Finance Corp., Refunding RB, 5.00%, 06/01/51 |
355 | 411,598 | ||||||
| Greeneway Improvement District, SAB, |
1,675 | 1,728,265 | ||||||
| Lakewood Ranch Stewardship District, SAB |
||||||||
| 4.25%, 05/01/26 |
135 | 143,280 | ||||||
| 4.95%, 05/01/29(b) |
395 | 451,797 | ||||||
| 5.50%, 05/01/39(b) |
400 | 473,080 | ||||||
| 5.13%, 05/01/46 |
810 | 885,954 | ||||||
| 5.65%, 05/01/48(b) |
665 | 783,011 | ||||||
| Series 1B, 4.75%, 05/01/29 |
565 | 640,134 | ||||||
| Series 1B, 5.30%, 05/01/39 |
645 | 753,940 | ||||||
| Series 1B, 5.45%, 05/01/48 |
1,150 | 1,338,335 | ||||||
| Miami-Dade County Industrial Development Authority, RB, 5.00%, 01/15/48 |
915 | 1,061,043 | ||||||
| Mid-Bay Bridge Authority, RB, |
4,550 | 4,602,507 | ||||||
| Midtown Miami Community Development District, Refunding SAB |
||||||||
| Series A, 5.00%, 05/01/37 |
845 | 882,383 | ||||||
| Series B, 5.00%, 05/01/37 |
495 | 516,899 | ||||||
| North River Ranch Community Development District, SAB |
||||||||
| Series A-1, 4.00%, 05/01/40 |
310 | 336,632 | ||||||
| Series A-1, 4.25%, 05/01/51 |
530 | 570,964 | ||||||
| Series A-2, 4.20%, 05/01/35 |
450 | 487,994 | ||||||
| Series A-3, 4.75%, 05/01/40 |
600 | 600,306 | ||||||
| Palm Beach County Health Facilities Authority, Refunding RB, Series A, 7.25%, 06/01/34 |
500 | 534,765 | ||||||
| Santa Rosa Bay Bridge Authority, RB, |
3,405 | 2,982,145 | ||||||
| Seminole County Industrial Development Authority, Refunding RB |
||||||||
| 5.50%, 11/15/49 |
1,235 | 1,381,718 | ||||||
| 5.75%, 11/15/54 |
985 | 1,109,346 | ||||||
| Tolomato Community Development |
805 | 627,489 | ||||||
| Tolomato Community Development District, Refunding SAB, CAB, Series A-4, Convertible, 6.61%, 05/01/40(c) |
305 | 295,673 | ||||||
| Tolomato Community Development District, SAB(e)(f) |
||||||||
| 3rd Series, 6.65%, 05/01/40 |
710 | 7 | ||||||
| Series 2015-1, 6.61%, 05/01/40(c) |
1,305 | 1,275,207 | ||||||
| Series 2015-3, 6.61%, 05/01/40 |
875 | 9 | ||||||
| Trout Creek Community Development District, SAB |
||||||||
| 5.38%, 05/01/38 |
430 | 489,920 | ||||||
| 5.50%, 05/01/49 |
1,105 | 1,245,954 | ||||||
| Village Community Development District No.9, SAB, 5.50%, 05/01/42 |
1,065 | 1,083,808 | ||||||
| West Villages Improvement District, SAB |
||||||||
| 4.75%, 05/01/39 |
455 | 506,046 | ||||||
| 5.00%, 05/01/50 |
940 | 1,042,366 | ||||||
|
|
|
|||||||
| 59,230,947 | ||||||||
| Georgia — 1.0% | ||||||||
| George L Smith II Congress Center Authority, RB, 4.00%, 01/01/54 |
410 | 478,413 | ||||||
| 2 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Georgia (continued) | ||||||||
| Main Street Natural Gas, Inc., RB |
||||||||
| Series A, 5.00%, 05/15/35 |
$ | 560 | $ | 786,122 | ||||
| Series A, 5.00%, 05/15/36 |
560 | 796,141 | ||||||
| Series A, 5.00%, 05/15/37 |
615 | 885,680 | ||||||
| Series A, 5.00%, 05/15/38 |
340 | 496,658 | ||||||
| Series A, 5.00%, 05/15/49 |
1,130 | 1,785,841 | ||||||
| Private Colleges & Universities Authority, Refunding RB, 4.00%, 10/01/50 |
345 | 412,223 | ||||||
|
|
|
|||||||
| 5,641,078 | ||||||||
| Guam — 0.2% | ||||||||
| Territory of Guam, Refunding RB |
||||||||
| Series A, 5.00%, 11/01/35 |
385 | 495,830 | ||||||
| Series A, 5.00%, 11/01/40 |
540 | 682,819 | ||||||
|
|
|
|||||||
| 1,178,649 | ||||||||
| Idaho — 0.1% | ||||||||
| Idaho Housing & Finance Association, RB, Series A, 6.95%, 06/15/55(b) |
580 | 640,059 | ||||||
|
|
|
|||||||
| Illinois — 6.5% | ||||||||
| Chicago Board of Education, GO |
||||||||
| Series A, 5.00%, 12/01/42 |
1,020 | 1,069,582 | ||||||
| Series C, 5.25%, 12/01/35 |
1,655 | 1,867,932 | ||||||
| Series D, 5.00%, 12/01/46 |
2,155 | 2,400,769 | ||||||
| Series H, 5.00%, 12/01/46 |
720 | 861,545 | ||||||
| Chicago Board of Education, Refunding GO |
||||||||
| Series B, 4.00%, 12/01/35 |
745 | 772,327 | ||||||
| Series C, 5.00%, 12/01/25 |
725 | 853,136 | ||||||
| Series D, 5.00%, 12/01/31 |
1,000 | 1,234,220 | ||||||
| Series G, 5.00%, 12/01/44 |
2,150 | 2,579,398 | ||||||
| City of Chicago Illinois, Refunding GO, |
1,260 | 1,587,512 | ||||||
| Illinois Finance Authority, Refunding RB |
||||||||
| 6.60%, 07/01/24 |
450 | 452,005 | ||||||
| 6.00%, 02/01/34 |
365 | 384,597 | ||||||
| 6.13%, 02/01/45 |
860 | 898,089 | ||||||
| Metropolitan Pier & Exposition Authority, RB |
||||||||
| Series A, 5.50%, 06/15/53 |
2,370 | 2,825,372 | ||||||
| Series A, 5.00%, 06/15/57 |
1,020 | 1,224,143 | ||||||
| Metropolitan Pier & Exposition Authority, Refunding RB, 4.00%, 12/15/47(h) |
1,805 | 2,080,497 | ||||||
| Metropolitan Pier & Exposition Authority, Refunding RB, CAB, |
18,775 | 8,025,749 | ||||||
| State of Illinois, GO |
||||||||
| 5.50%, 05/01/30 |
530 | 709,776 | ||||||
| 5.50%, 05/01/39 |
1,055 | 1,382,440 | ||||||
| Series A, 5.00%, 01/01/33 |
740 | 753,216 | ||||||
| Series D, 5.00%, 11/01/24 |
3,255 | 3,731,239 | ||||||
| Village of Lincolnshire Illinois, ST, |
1,448 | 1,449,434 | ||||||
|
|
|
|||||||
| 37,142,978 | ||||||||
| Indiana — 1.8% | ||||||||
| City of Anderson Indiana, RB, 5.38%, 01/01/40 |
580 | 608,153 | ||||||
| City of Valparaiso Indiana, RB |
||||||||
| AMT, 6.75%, 01/01/34 |
825 | 912,062 | ||||||
| AMT, 7.00%, 01/01/44 |
2,000 | 2,213,700 | ||||||
| City of Vincennes Indiana, Refunding RB, 6.25%, 01/01/29(b) |
1,885 | 1,888,092 | ||||||
| Indiana Finance Authority, RB |
||||||||
| Series A, AMT, 6.75%, 05/01/39 |
1,060 | 1,424,523 | ||||||
| Security | Par (000) |
Value | ||||||
| Indiana (continued) | ||||||||
| Indiana Finance Authority, RB (continued) |
||||||||
| Series A, AMT, 5.00%, 07/01/44 |
$ | 470 | $ | 503,849 | ||||
| Series A, AMT, 5.00%, 07/01/48 |
1,555 | 1,674,813 | ||||||
| Indiana Housing & Community Development Authority, RB, 5.38%, 10/01/40(b) |
1,230 | 1,298,130 | ||||||
|
|
|
|||||||
| 10,523,322 | ||||||||
| Iowa — 0.4% | ||||||||
| Iowa Finance Authority, Refunding RB |
||||||||
| 5.25%, 12/01/25 |
150 | 165,314 | ||||||
| Series B, 5.25%, 12/01/50(a) |
2,085 | 2,294,855 | ||||||
|
|
|
|||||||
| 2,460,169 | ||||||||
| Kansas(b) — 0.2% | ||||||||
| City of Shawnee Kansas, RB |
||||||||
| 5.00%, 08/01/41 |
230 | 251,496 | ||||||
| 5.00%, 08/01/56 |
850 | 911,251 | ||||||
|
|
|
|||||||
| 1,162,747 | ||||||||
| Kentucky — 0.8% | ||||||||
| Kentucky Public Transportation Infrastructure Authority, RB, Series A, 5.75%, 07/01/49 |
4,000 | 4,375,760 | ||||||
|
|
|
|||||||
| Louisiana — 2.0% | ||||||||
| Juban Crossing Economic Development District, Refunding RB, Series C, 7.00%, 09/15/44(b) |
2,380 | 2,359,651 | ||||||
| Louisiana Local Government Environmental Facilities & Community Development Authority, RB, 5.00%, 07/01/54(b) |
930 | 976,863 | ||||||
| Parish of St. James Louisiana, RB, 2nd Series, 6.35%, 07/01/40(b) |
1,580 | 2,128,007 | ||||||
| Tobacco Settlement Financing Corp., Refunding RB, Series A, 5.25%, 05/15/35 |
5,570 | 6,009,584 | ||||||
|
|
|
|||||||
| 11,474,105 | ||||||||
| Maryland — 1.1% | ||||||||
| County of Frederick Maryland, Refunding TA, 4.63%, 07/01/43(b) |
1,930 | 2,337,346 | ||||||
| Maryland Economic Development Corp., RB, 5.00%, 07/01/56 |
360 | 445,298 | ||||||
| Maryland Health & Higher Educational Facilities Authority, RB, Series A, 7.00%, 03/01/55(b) |
3,010 | 3,458,731 | ||||||
|
|
|
|||||||
| 6,241,375 | ||||||||
| Massachusetts — 0.1% | ||||||||
| Massachusetts Development Finance Agency, Refunding RB |
||||||||
| 4.00%, 07/01/45 |
170 | 199,347 | ||||||
| 4.00%, 07/01/50 |
325 | 377,296 | ||||||
|
|
|
|||||||
| 576,643 | ||||||||
| Michigan — 1.2% | ||||||||
| Advanced Technology Academy, Refunding RB, 5.00%, 11/01/44 |
415 | 464,215 | ||||||
| City of Detroit Michigan Sewage Disposal System Revenue, Refunding RB, Series A, Senior Lien, 5.25%, 07/01/22(g) |
2,785 | 2,916,508 | ||||||
| City of Detroit Michigan, GO |
||||||||
| 5.00%, 04/01/34 |
285 | 343,436 | ||||||
| 5.00%, 04/01/35 |
285 | 342,479 | ||||||
| 5.00%, 04/01/36 |
200 | 239,724 | ||||||
| 5.00%, 04/01/37 |
320 | 382,653 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
3 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Michigan (continued) | ||||||||
| City of Detroit Michigan, GO (continued) |
||||||||
| 5.00%, 04/01/38 |
$ | 145 | $ | 172,937 | ||||
| Michigan Finance Authority, RB, Series C-2, AMT, Senior Lien, 5.00%, 07/01/22(g) |
415 | 432,924 | ||||||
| Michigan Strategic Fund, RB, AMT, |
1,200 | 1,461,204 | ||||||
|
|
|
|||||||
| 6,756,080 | ||||||||
| Minnesota — 0.3% | ||||||||
| City of Minneapolis Minnesota, RB, Series A, 5.75%, 07/01/55 |
1,480 | 1,752,364 | ||||||
|
|
|
|||||||
| Missouri — 0.3% | ||||||||
| Industrial Development Authority of the City of St. Louis Missouri, Refunding RB |
||||||||
| Series A, 4.38%, 11/15/35 |
685 | 700,214 | ||||||
| Series A, 4.75%, 11/15/47 |
760 | 769,804 | ||||||
|
|
|
|||||||
| 1,470,018 | ||||||||
| Nevada — 0.2% | ||||||||
| Tahoe-Douglas Visitors Authority, RB |
||||||||
| 5.00%, 07/01/40 |
315 | 372,991 | ||||||
| 5.00%, 07/01/45 |
395 | 461,131 | ||||||
| 5.00%, 07/01/51 |
420 | 485,155 | ||||||
|
|
|
|||||||
| 1,319,277 | ||||||||
| New Hampshire — 0.7% | ||||||||
| New Hampshire Business Finance Authority, RB |
||||||||
| Series A, 4.13%, 08/15/40 |
530 | 556,018 | ||||||
| Series A, 4.25%, 08/15/46 |
595 | 620,740 | ||||||
| Series A, 4.50%, 08/15/55 |
1,235 | 1,296,330 | ||||||
| New Hampshire Business Finance Authority, Refunding RB(b) |
||||||||
| Series B, 4.63%, 11/01/42 |
1,015 | 1,066,988 | ||||||
| Series C, AMT, 4.88%, 11/01/42 |
485 | 512,097 | ||||||
|
|
|
|||||||
| 4,052,173 | ||||||||
| New Jersey — 4.4% | ||||||||
| Casino Reinvestment Development Authority, Inc., Refunding RB |
||||||||
| 5.25%, 11/01/39 |
1,065 | 1,192,278 | ||||||
| 5.25%, 11/01/44 |
770 | 852,698 | ||||||
| New Jersey Economic Development Authority, RB 6.00%, 10/01/43 |
1,530 | 1,680,414 | ||||||
| Series A, 5.00%, 07/01/32 |
165 | 181,776 | ||||||
| Series A, 5.00%, 07/01/37 |
260 | 284,396 | ||||||
| Series A, 5.25%, 11/01/54(b) |
1,675 | 1,813,472 | ||||||
| Series B, 5.00%, 06/15/43 |
2,245 | 2,776,347 | ||||||
| AMT, 5.38%, 01/01/43 |
2,155 | 2,368,323 | ||||||
| Series B, AMT, 6.50%, 04/01/31 |
1,940 | 2,111,593 | ||||||
| New Jersey Economic Development Authority, Refunding RB, Series A, 6.00%, 08/01/49(b) |
500 | 529,960 | ||||||
| New Jersey Transportation Trust Fund Authority, RB |
||||||||
| Series AA, 5.25%, 06/15/41 |
1,140 | 1,328,351 | ||||||
| Series S, 5.25%, 06/15/43 |
2,345 | 2,984,153 | ||||||
| Tobacco Settlement Financing Corp., Refunding RB, Sub-Series B, 5.00%, 06/01/46 |
5,970 | 7,150,329 | ||||||
|
|
|
|||||||
| 25,254,090 | ||||||||
| New Mexico — 0.5% | ||||||||
| New Mexico Hospital Equipment Loan Council, Refunding RB, 5.50%, 07/01/42 |
2,970 | 3,104,006 | ||||||
|
|
|
|||||||
| Security | Par (000) |
Value | ||||||
| New York — 6.3% |
||||||||
| Erie Tobacco Asset Securitization Corp., Refunding RB, |
||||||||
| Series A, 5.00%, 06/01/45 |
$ | 2,890 | $ | 2,910,837 | ||||
| Huntington Local Development Corp., RB, |
185 | 204,183 | ||||||
| Metropolitan Transportation Authority, Refunding RB |
||||||||
| Series C-1, 4.75%, 11/15/45 |
1,740 | 2,158,957 | ||||||
| Series C-1, 5.00%, 11/15/50 |
565 | 702,397 | ||||||
| Series C-1, 5.25%, 11/15/55 |
840 | 1,060,550 | ||||||
| New York City Industrial Development Agency, Refunding RB |
||||||||
| Series A, Class A, (AGM), 3.00%, 01/01/37 |
250 | 276,685 | ||||||
| Series A, Class A, (AGM), 3.00%, 01/01/39 |
250 | 275,562 | ||||||
| Series A, Class A, (AGM), 3.00%, 01/01/40 |
175 | 192,539 | ||||||
| New York Counties Tobacco Trust IV, Refunding RB |
||||||||
| Series A, 6.25%, 06/01/41(b) |
5,100 | 5,173,083 | ||||||
| Series A, 5.00%, 06/01/42 |
3,155 | 3,184,373 | ||||||
| Series A, 5.00%, 06/01/45 |
1,185 | 1,195,973 | ||||||
| New York Counties Tobacco Trust VI, Refunding RB |
||||||||
| Series A-2-B, 5.00%, 06/01/45 |
2,655 | 2,906,667 | ||||||
| Series A-2-B, 5.00%, 06/01/51 |
1,900 | 2,028,896 | ||||||
| New York Liberty Development Corp., Refunding RB(b) |
||||||||
| Series 1, Class 1, 5.00%, 11/15/44 |
6,205 | 6,856,277 | ||||||
| Series 2, Class 2, 5.15%, 11/15/34 |
455 | 512,548 | ||||||
| Series 2, Class 2, 5.38%, 11/15/40 |
1,080 | 1,220,108 | ||||||
| New York Transportation Development Corp., RB |
||||||||
| AMT, 5.00%, 10/01/35 |
395 | 511,403 | ||||||
| AMT, 5.00%, 10/01/40 |
1,120 | 1,431,987 | ||||||
| New York Transportation Development Corp., Refunding ARB, AMT, 5.38%, 08/01/36 |
1,490 | 1,899,050 | ||||||
| Westchester County Healthcare Corp., RB, Series A, Senior Lien, 5.00%, 11/01/44 |
1,234 | 1,378,537 | ||||||
|
|
|
|||||||
| 36,080,612 | ||||||||
| Ohio — 2.3% | ||||||||
| Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55 |
4,980 | 5,843,433 | ||||||
| Cleveland-Cuyahoga County Port Authority, RB |
||||||||
| 4.00%, 07/01/46 |
65 | 76,785 | ||||||
| 4.00%, 07/01/51 |
95 | 111,741 | ||||||
| County of Hamilton Ohio, Refunding RB, |
875 | 980,298 | ||||||
| County of Hardin Ohio, Refunding RB |
||||||||
| 5.00%, 05/01/30 |
240 | 263,981 | ||||||
| 5.25%, 05/01/40 |
480 | 521,899 | ||||||
| 5.50%, 05/01/50 |
1,130 | 1,226,479 | ||||||
| Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(b) |
840 | 988,655 | ||||||
| Port of Greater Cincinnati Development Authority, RB, 4.25%, 12/01/50(b) |
385 | 393,077 | ||||||
| Southern Ohio Port Authority, RB, Series A, AMT, 7.00%, 12/01/42(b) |
2,315 | 2,689,312 | ||||||
|
|
|
|||||||
| 13,095,660 | ||||||||
| Oklahoma — 2.4% | ||||||||
| Oklahoma Development Finance Authority, RB 7.25%, 09/01/51(b) |
4,615 | 5,683,234 | ||||||
| Series B, 5.00%, 08/15/38 |
2,990 | 3,657,727 | ||||||
| 4 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Oklahoma (continued) | ||||||||
| Oklahoma Development Finance Authority, RB (continued) |
||||||||
| Series B, 5.25%, 08/15/43 |
$ | 2,690 | $ | 3,324,436 | ||||
| Tulsa County Industrial Authority, Refunding RB, 5.25%, 11/15/37 |
750 | 859,103 | ||||||
|
|
|
|||||||
| 13,524,500 | ||||||||
| Oregon — 0.5% | ||||||||
| Hospital Facilities Authority of Multnomah County Oregon, Refunding RB, |
1,765 | 1,882,267 | ||||||
| Oregon State Facilities Authority, RB(b) |
||||||||
| Series A, 5.00%, 06/15/29 |
115 | 127,209 | ||||||
| Series A, 5.00%, 06/15/39 |
565 | 624,444 | ||||||
|
|
|
|||||||
| 2,633,920 | ||||||||
| Pennsylvania — 1.4% | ||||||||
| Allentown Neighborhood Improvement Zone Development Authority, Refunding RB, Series A, 5.00%, 05/01/42 |
2,140 | 2,216,120 | ||||||
| Bucks County Industrial Development Authority, RB |
||||||||
| 4.00%, 07/01/46 |
100 | 113,834 | ||||||
| 4.00%, 07/01/51 |
100 | 112,766 | ||||||
| Montgomery County Industrial Development Authority, Refunding RB, 5.38%, 01/01/50 |
1,135 | 1,192,703 | ||||||
| Northampton County Industrial Development Authority, TA, 7.00%, 07/01/32 |
1,655 | 1,774,607 | ||||||
| Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, |
2,710 | 2,896,638 | ||||||
|
|
|
|||||||
| 8,306,668 | ||||||||
| Puerto Rico — 13.5% | ||||||||
| Children’s Trust Fund, RB, |
44,330 | 2,965,677 | ||||||
| Children’s Trust Fund, Refunding RB, |
850 | 859,894 | ||||||
| Commonwealth of Puerto Rico, GO(e)(f) |
||||||||
| Series A, 5.25%, 07/01/22 |
145 | 138,026 | ||||||
| Series A, 5.25%, 07/01/26 |
50 | 47,595 | ||||||
| Series A, 5.13%, 07/01/31 |
515 | 490,232 | ||||||
| Series A, 5.38%, 07/01/33 |
500 | 475,953 | ||||||
| Series A, 6.00%, 07/01/38 |
750 | 723,750 | ||||||
| Commonwealth of Puerto Rico,
Refunding |
||||||||
| 5.00%, 07/01/18 |
90 | 82,425 | ||||||
| Series A, 8.00%, 07/01/35 |
9,295 | 7,942,754 | ||||||
| Series A, 5.50%, 07/01/39 |
1,265 | 1,136,609 | ||||||
| Series A, 6.50%, 07/01/40 |
1,110 | 1,040,625 | ||||||
| Series A, 5.00%, 07/01/41 |
2,230 | 1,903,916 | ||||||
| Series B, 6.00%, 07/01/39 |
110 | 106,150 | ||||||
| Series D, 5.75%, 07/01/41 |
165 | 154,138 | ||||||
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, RB |
||||||||
| Series A, Senior Lien, 5.00%, 07/01/33 |
170 | 176,047 | ||||||
| Series A, Senior Lien, 5.13%, 07/01/37 |
200 | 206,872 | ||||||
| Series A, Senior Lien, 5.75%, 07/01/37 |
1,290 | 1,341,626 | ||||||
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Refunding RB(b) |
||||||||
| Series A, Senior Lien, 5.00%, 07/01/35 |
1,780 | 2,208,410 | ||||||
| Series A, Senior Lien, 5.00%, 07/01/47 |
3,135 | 3,801,501 | ||||||
| Puerto Rico Electric Power Authority, RB |
||||||||
| 3rd Series, 5.40%, 01/01/22(a) |
90 | 83,272 | ||||||
| Series A, 5.00%, 07/01/29(e)(f) |
660 | 652,162 | ||||||
| Series A, 7.00%, 07/01/33(e)(f) |
3,295 | 3,321,087 | ||||||
| Series A, 6.75%, 07/01/36(e)(f) |
1,335 | 1,345,569 | ||||||
| Series A, 5.00%, 07/01/42(e)(f) |
1,315 | 1,299,384 | ||||||
| Security | Par (000) |
Value | ||||||
| Puerto Rico (continued) | ||||||||
| Puerto Rico Electric Power Authority, RB (continued) |
||||||||
| Series A, 7.00%, 07/01/43(e)(f) |
$ | 375 | $ | 377,969 | ||||
| Series A-3, 10.00%, 07/01/19(e)(f) |
323 | 339,160 | ||||||
| Series B-3, 10.00%, 07/01/19(e)(f) |
323 | 339,160 | ||||||
| Series C-1, 5.40%, 01/01/18(e)(f) |
887 | 823,661 | ||||||
| Series C-2, 5.40%, 07/01/18(e)(f) |
887 | 823,795 | ||||||
| Series C-4, 5.40%, 07/01/20(e)(f) |
90 | 83,272 | ||||||
| Series CCC, 5.25%, 07/01/26(e)(f) |
260 | 256,912 | ||||||
| Series CCC, 5.25%, 07/01/28(e)(f) |
145 | 143,278 | ||||||
| Series TT, 5.00%, 07/01/25(e)(f) |
100 | 98,813 | ||||||
| Series TT, 5.00%, 07/01/26(e)(f) |
225 | 222,328 | ||||||
| Series WW, 5.50%, 07/01/19(e)(f) |
200 | 197,625 | ||||||
| Series WW, 5.50%, 07/01/21 |
1,595 | 1,480,348 | ||||||
| Series WW, 5.38%, 07/01/22 |
1,310 | 1,294,444 | ||||||
| Series WW, 5.25%, 07/01/33(e)(f) |
120 | 118,575 | ||||||
| Series WW, 5.50%, 07/01/38(e)(f) |
205 | 202,566 | ||||||
| Series WW, 5.50%, 07/01/49(e)(f) |
1,320 | 1,304,325 | ||||||
| Series XX, 5.25%, 07/01/27(e)(f) |
110 | 108,694 | ||||||
| Series XX, 5.25%, 07/01/35 |
585 | 542,949 | ||||||
| Series XX, 5.25%, 07/01/35(e)(f) |
60 | 59,288 | ||||||
| Series XX, 5.75%, 07/01/36(e)(f) |
860 | 849,787 | ||||||
| Series XX, 5.25%, 07/01/40(e)(f) |
1,020 | 1,007,887 | ||||||
| Puerto Rico Electric Power Authority, Refunding RB(e)(f) |
||||||||
| Series AAA, 5.25%, 07/01/22 |
2,545 | 2,514,778 | ||||||
| Series AAA, 5.25%, 07/01/29 |
95 | 93,872 | ||||||
| Series UU, 1.00%, 07/01/19(a) |
115 | 102,298 | ||||||
| Series UU, 1.00%, 07/01/20(a) |
495 | 440,327 | ||||||
| Series UU, 2.25%, 07/01/31(a) |
580 | 515,939 | ||||||
| Series ZZ, 5.25%, 07/01/19 |
455 | 449,597 | ||||||
| Series ZZ, 5.25%, 07/01/24 |
345 | 340,903 | ||||||
| Series ZZ, 5.00%, 07/01/49 |
145 | 143,278 | ||||||
| Puerto Rico Electric Power Authority, Refunding RB, BAB, 6.13%, 07/01/40 |
1,085 | 1,007,008 | ||||||
| Puerto Rico Public Buildings Authority, Refunding RB(e)(f) |
||||||||
| Series F, (GTD), 5.25%, 07/01/24 |
235 | 246,493 | ||||||
| Series M-2, (GTD), 10.00%, 07/01/34 |
155 | 175,925 | ||||||
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB |
||||||||
| Series A-1, Restructured, 4.75%, 07/01/53 |
2,453 | 2,821,809 | ||||||
| Series A-1, Restructured, 5.00%, 07/01/58 |
5,234 | 6,098,290 | ||||||
| Series A-2, Restructured, 4.33%, 07/01/40 |
6,129 | 6,961,625 | ||||||
| Series A-2, Restructured, 4.54%, 07/01/53 |
21 | 23,842 | ||||||
| Series A-2, Restructured, 4.78%, 07/01/58 |
2,080 | 2,391,584 | ||||||
| Series B-1, Restructured, 4.55%, 07/01/40 |
2,402 | 2,760,619 | ||||||
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB(d) |
||||||||
| Series A-1, Restructured, 0.00%, 07/01/24 |
1,406 | 1,352,038 | ||||||
| Series A-1, Restructured, 0.00%, 07/01/29 |
1,079 | 949,596 | ||||||
| Series A-1, Restructured, 0.00%, 07/01/31 |
686 | 553,266 | ||||||
| Series A-1, Restructured, 0.00%, 07/01/33 |
337 | 252,393 | ||||||
| Series A-1, Restructured, 0.00%, 07/01/46 |
10,261 | 3,427,995 | ||||||
| Series A-1, Restructured, 0.00%, 07/01/51 |
2,333 | 566,429 | ||||||
| Series B-1, Restructured, 0.00%, 07/01/46 |
883 | 296,052 | ||||||
|
|
|
|||||||
| 77,664,466 | ||||||||
| Rhode Island — 1.9% | ||||||||
| Central Falls Detention Facility Corp., Refunding RB, 7.25%, 07/15/35(e)(f) |
4,190 | 628,500 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
5 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Rhode Island (continued) | ||||||||
| Tobacco Settlement Financing Corp., Refunding RB |
||||||||
| Series A, 5.00%, 06/01/40 |
$ | 980 | $ | 1,109,125 | ||||
| Series B, 4.50%, 06/01/45 |
5,055 | 5,628,186 | ||||||
| Series B, 5.00%, 06/01/50 |
3,330 | 3,812,584 | ||||||
|
|
|
|||||||
| 11,178,395 | ||||||||
| South Carolina — 0.1% | ||||||||
| South Carolina Jobs-Economic Development Authority, RB, Series A, 5.00%, 11/15/54 |
345 | 381,197 | ||||||
|
|
|
|||||||
| Tennessee — 0.4% | ||||||||
| Memphis-Shelby County Industrial Development Board, Refunding TA |
||||||||
| Series A, 5.50%, 07/01/37 |
925 | 917,313 | ||||||
| Series A, 5.63%, 01/01/46 |
1,085 | 1,080,411 | ||||||
|
|
|
|||||||
| 1,997,724 | ||||||||
| Texas — 6.7% | ||||||||
| Angelina & Neches River Authority, RB, |
715 | 724,431 | ||||||
| Arlington Higher Education Finance Corp., RB, 5.00%, 06/15/51 |
715 | 760,324 | ||||||
| Arlington Higher Education Finance Corp., Refunding RB, Series S, 5.00%, 08/15/41 |
370 | 411,688 | ||||||
| Brazoria County Industrial Development Corp., RB, AMT, 7.00%, 03/01/39 |
675 | 729,425 | ||||||
| Central Texas Regional Mobility Authority, Refunding RB, CAB(d) |
||||||||
| 0.00%, 01/01/28 |
1,000 | 930,260 | ||||||
| 0.00%, 01/01/29 |
2,000 | 1,822,600 | ||||||
| 0.00%, 01/01/30 |
1,170 | 1,039,299 | ||||||
| 0.00%, 01/01/33 |
3,690 | 3,020,007 | ||||||
| 0.00%, 01/01/34 |
4,000 | 3,176,960 | ||||||
| City of Houston Texas Airport System Revenue, RB, Series A, AMT, 6.63%, 07/15/38 |
2,890 | 2,901,473 | ||||||
| City of Houston Texas Airport System Revenue, Refunding ARB, AMT, 5.00%, 07/15/27 |
250 | 297,880 | ||||||
| City of Houston Texas Airport System Revenue, Refunding RB |
||||||||
| AMT, 5.00%, 07/01/29 |
730 | 804,256 | ||||||
| Series C, AMT, 5.00%, 07/15/27 |
1,615 | 1,908,575 | ||||||
| Harris County Cultural Education Facilities Finance Corp., RB, |
475 | 521,161 | ||||||
| Mission Economic Development Corp., Refunding RB, AMT, Senior Lien, |
785 | 828,199 | ||||||
| New Hope Cultural Education Facilities Finance Corp., RB |
||||||||
| Series A, 5.88%, 04/01/23(g) |
1,210 | 1,326,341 | ||||||
| Series A, 6.00%, 04/01/23(g) |
1,845 | 2,026,216 | ||||||
| Series A, 10.00%, 12/01/25(b) |
1,140 | 1,139,111 | ||||||
| New Hope Cultural Education Facilities Finance Corp., Refunding RB, Series A, 5.00%, 08/15/36(b) |
1,085 | 1,087,018 | ||||||
| New Hope Higher Education Finance Corp., RB, Series A, 5.75%, 06/15/51(b) |
1,650 | 1,668,463 | ||||||
| Newark Higher Education Finance Corp., RB(b) |
||||||||
| Series A, 5.50%, 08/15/35 |
290 | 338,998 | ||||||
| Series A, 5.75%, 08/15/45 |
580 | 678,896 | ||||||
| Port Beaumont Navigation District, Refunding RB(b) |
||||||||
| Series A, AMT, 3.63%, 01/01/35 |
650 | 672,438 | ||||||
| Series A, AMT, 4.00%, 01/01/50 |
1,400 | 1,447,614 | ||||||
| Red River Health Facilities Development Corp., RB 5.13%, 01/01/41 |
900 | 910,305 | ||||||
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
| Red River Health Facilities Development Corp., RB (continued) |
||||||||
| 7.25%, 12/15/42(e)(f) |
$ | 2,895 | $ | 2,022,415 | ||||
| Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, |
865 | 948,542 | ||||||
| Texas Transportation Commission, RB, CAB(d) |
||||||||
| 0.00%, 08/01/46 |
1,420 | 495,509 | ||||||
| 0.00%, 08/01/47 |
2,120 | 701,699 | ||||||
| 0.00%, 08/01/48 |
2,235 | 701,924 | ||||||
| 0.00%, 08/01/49 |
2,100 | 626,094 | ||||||
| 0.00%, 08/01/50 |
3,015 | 847,637 | ||||||
| 0.00%, 08/01/51 |
1,770 | 469,793 | ||||||
| 0.00%, 08/01/52 |
1,770 | 443,562 | ||||||
| 0.00%, 08/01/53 |
160 | 37,915 | ||||||
|
|
|
|||||||
| 38,467,028 | ||||||||
| Utah(b) — 0.1% | ||||||||
| Utah Charter School Finance Authority, RB |
||||||||
| Series A, 5.00%, 06/15/41 |
205 | 239,914 | ||||||
| Series A, 5.00%, 06/15/52 |
265 | 301,755 | ||||||
|
|
|
|||||||
| 541,669 | ||||||||
| Virginia — 1.7% | ||||||||
| Lower Magnolia Green Community Development Authority, SAB(b) |
||||||||
| 5.00%, 03/01/35 |
495 | 531,214 | ||||||
| 5.00%, 03/01/45 |
505 | 536,063 | ||||||
| Norfolk Redevelopment & Housing Authority, RB |
||||||||
| Series A, 4.00%, 01/01/29 |
300 | 318,960 | ||||||
| Series A, 5.00%, 01/01/34 |
485 | 526,361 | ||||||
| Series A, 5.00%, 01/01/49 |
955 | 1,020,226 | ||||||
| Tobacco Settlement Financing Corp., Refunding RB, Series B-1, 5.00%, 06/01/47 |
2,370 | 2,408,418 | ||||||
| Virginia Small Business Financing Authority, RB, AMT, Senior Lien, 6.00%, 01/01/37 |
4,440 | 4,665,108 | ||||||
|
|
|
|||||||
| 10,006,350 | ||||||||
| Washington — 1.0% | ||||||||
| Greater Wenatchee Regional Events Center Public Facilities District, Refunding RB, Series A, 5.50%, 09/01/42 |
1,495 | 1,545,411 | ||||||
| Washington State Convention Center Public Facilities District, RB |
||||||||
| 4.00%, 07/01/31 |
1,315 | 1,570,360 | ||||||
| 4.00%, 07/01/58 |
795 | 929,753 | ||||||
| Washington State Housing Finance Commission, RB(b) |
||||||||
| Series A, 5.00%, 07/01/50 |
225 | 261,101 | ||||||
| Series A, 5.00%, 07/01/56 |
255 | 291,980 | ||||||
| Washington State Housing Finance Commission, Refunding RB(b) |
||||||||
| 5.75%, 01/01/35 |
315 | 348,885 | ||||||
| 6.00%, 01/01/45 |
850 | 941,043 | ||||||
|
|
|
|||||||
| 5,888,533 | ||||||||
| Wisconsin — 5.1% | ||||||||
| Public Finance Authority, RB |
||||||||
| 5.00%, 06/15/39 |
175 | 212,989 | ||||||
| 5.00%, 06/15/41(b) |
345 | 373,701 | ||||||
| 5.00%, 01/01/42(b) |
605 | 666,813 | ||||||
| 6.85%, 11/01/46(b) |
900 | 957,420 | ||||||
| 7.00%, 11/01/46(b) |
570 | 610,219 | ||||||
| 5.00%, 06/15/49 |
530 | 627,695 | ||||||
| 5.63%, 06/15/49(b) |
2,500 | 2,578,475 | ||||||
| 6 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Wisconsin (continued) | ||||||||
| Public Finance Authority, RB (continued) |
||||||||
| 5.00%, 04/01/50(b) |
$ | 115 | $ | 137,409 | ||||
| 5.00%, 06/15/53 |
355 | 419,372 | ||||||
| 5.00%, 06/15/55(b) |
895 | 939,070 | ||||||
| 5.00%, 01/01/56(b) |
1,470 | 1,584,307 | ||||||
| Series A, 6.25%, 10/01/31(b) |
605 | 644,966 | ||||||
| Series A, 5.38%, 06/01/44(b) |
555 | 573,448 | ||||||
| Series A, 7.00%, 10/01/47(b) |
605 | 642,940 | ||||||
| Series A, 5.63%, 06/15/49(b) |
2,950 | 3,217,299 | ||||||
| Series A, 5.50%, 06/01/54(b) |
680 | 696,476 | ||||||
| Series A, 5.00%, 06/15/55(b) |
4,030 | 4,182,616 | ||||||
| Series A-1, 4.50%, 01/01/35(b) |
1,225 | 1,407,905 | ||||||
| Series A-1, 5.50%, 12/01/48(b)(e)(f) |
20 | 6,578 | ||||||
| Series A-1, 5.00%, 01/01/55(b) |
2,640 | 3,041,201 | ||||||
| Series B, 0.00%, 01/01/35(b)(d) |
1,750 | 814,397 | ||||||
| Series B, 0.00%, 01/01/60(b)(d) |
35,940 | 3,321,575 | ||||||
| Wisconsin Health & Educational Facilities Authority, Refunding RB |
||||||||
| 5.00%, 11/01/46 |
470 | 511,769 | ||||||
| 5.00%, 11/01/54 |
785 | 847,313 | ||||||
|
|
|
|||||||
| 29,015,953 | ||||||||
|
|
|
|||||||
| Total Municipal Bonds — 90.4% |
|
519,122,878 | ||||||
|
|
|
|||||||
| Municipal Bonds Transferred to Tender Option Bond Trusts(i) |
| |||||||
| Illinois — 2.6% | ||||||||
| Illinois Finance Authority, RB, Series A, (AGM), 6.00%, 08/15/41 |
7,180 | 7,193,857 | ||||||
| Illinois Finance Authority, Refunding RB |
||||||||
| Series C, 4.00%, 02/15/27(g) |
4 | 4,291 | ||||||
| Series C, 4.00%, 02/15/41 |
1,495 | 1,710,703 | ||||||
| Illinois State Toll Highway Authority, RB, |
5,056 | 5,902,472 | ||||||
|
|
|
|||||||
| 14,811,323 | ||||||||
| Massachusetts — 0.5% | ||||||||
| Commonwealth of Massachusetts Transportation Fund Revenue, RB, |
2,268 | 2,536,916 | ||||||
|
|
|
|||||||
| New York — 12.2% | ||||||||
| Hudson Yards Infrastructure Corp., RB, |
1,465 | 1,471,720 | ||||||
| New York City Housing Development Corp., RB, M/F Housing |
||||||||
| Series C-1A, 4.15%, 11/01/39 |
1,893 | 1,981,159 | ||||||
| Series C-1A, 4.20%, 11/01/44 |
3,470 | 3,631,395 | ||||||
| Series C-1A, 4.30%, 11/01/47 |
2,840 | 2,971,696 | ||||||
| Series D-1B, 4.25%, 11/01/45 |
8,996 | 9,615,381 | ||||||
| New York City Water & Sewer System, Refunding RB |
||||||||
| Series CC, 5.00%, 06/15/23(g) |
6,665 | 7,246,443 | ||||||
| Series CC, 5.00%, 06/15/47 |
7,516 | 8,172,517 | ||||||
| New York Liberty Development Corp., ARB, 5.25%, 12/15/43 |
18,104 | 18,434,354 | ||||||
| New York Liberty Development Corp., Refunding RB, 5.75%, 11/15/51(j) |
6,600 | 6,696,726 | ||||||
| Security | Par (000) |
Value | ||||||
| New York (continued) | ||||||||
| New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/60 |
$ | 1,444 | $ | 1,721,829 | ||||
| New York State Dormitory Authority, Refunding RB, Series D, 4.00%, 02/15/47 |
6,956 | 8,166,450 | ||||||
|
|
|
|||||||
| 70,109,670 | ||||||||
| Pennsylvania — 0.5% | ||||||||
| Pennsylvania Turnpike Commission, RB, Sub-Series A, 5.50%, 12/01/42 |
2,505 | 3,104,847 | ||||||
|
|
|
|||||||
| Rhode Island — 0.3% | ||||||||
| Narragansett Bay Commission, Refunding RB, Series A, 4.00%, 09/01/22(g) |
1,710 | 1,782,128 | ||||||
|
|
|
|||||||
| Texas — 0.4% |
||||||||
| Lower Colorado River Authority, Refunding, RB, 4.00%, 05/15/43 |
2,271 | 2,328,773 | ||||||
|
|
|
|||||||
| Washington — 1.4% | ||||||||
| City of Bellingham Washington Water & Sewer Revenue, RB, 5.00%, 08/01/40 |
7,966 | 7,966,366 | ||||||
|
|
|
|||||||
| Wisconsin — 0.2% | ||||||||
| Wisconsin Health & Educational Facilities Authority, Refunding RB, 4.00%, 12/01/46 |
1,142 | 1,301,681 | ||||||
|
|
|
|||||||
| Total Municipal Bonds Transferred to Tender Option Bond Trusts —
18.1% |
|
103,941,704 | ||||||
|
|
|
|||||||
| Total Long-Term Investments — 108.5% |
|
|||||||
| (Cost: $556,582,134) |
623,064,582 | |||||||
|
|
|
|||||||
| Shares | ||||||||
| Short-Term Securities | ||||||||
| Money Market Funds — 2.2% |
||||||||
| BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.01%(k)(l) |
12,505,115 | 12,507,616 | ||||||
|
|
|
|||||||
| Total Short-Term Securities — 2.2% (Cost: $12,507,616) |
|
12,507,616 | ||||||
|
|
|
|||||||
| Total Investments — 110.7% |
|
635,572,198 | ||||||
| Other Assets Less Liabilities — 0.3% |
|
1,620,620 | ||||||
| Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (11.0)% |
|
(62,938,122 | ) | |||||
|
|
|
|||||||
| Net Assets Applicable to Common Shares — 100.0% |
|
$ | 574,254,696 | |||||
|
|
|
|||||||
| (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) | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
| (d) | Zero-coupon bond. |
| (e) | Issuer filed for bankruptcy and/or is in default. |
| (f) | Non-income producing security. |
| (g) | 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. |
| (h) | When-issued security. |
|
S C H E D U L E O F I N V E S T M E N T S |
7 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock MuniAssets Fund, Inc. (MUA) |
| (i) | 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. |
| (j) | 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 February 15, 2047 to November 15, 2051, is $4,275,810. |
| (k) | Affiliate of the Fund. |
| (l) | Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 04/30/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 07/31/21 |
Shares Held at 07/31/21 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
| BlackRock Liquidity Funds, MuniCash, Institutional Class |
$ | — | $ | 12,507,616 | (a) | $ | — | $ | — | $ | — | $ | 12,507,616 | 12,505,115 | $ | 143 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) | Represents net amount purchased (sold). |
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 BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for 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 |
$ | — | $ | 519,122,878 | $ | — | $ | 519,122,878 | ||||||||
| Municipal Bonds Transferred to Tender Option Bond Trusts |
— | 103,941,704 | — | 103,941,704 | ||||||||||||
| Short-Term Securities |
||||||||||||||||
| Money Market Funds |
12,507,616 | — | — | 12,507,616 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 12,507,616 | $ | 623,064,582 | $ | — | $ | 635,572,198 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of period end, TOB Trust Certificates of $62,928,098 are categorized as Level 2 within the fair value hierarchy.
| 8 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock MuniAssets Fund, Inc. (MUA) |
| Portfolio Abbreviation | ||
| AGM | Assured Guaranty Municipal Corp. | |
| AMT | Alternative Minimum Tax | |
| ARB | Airport Revenue Bonds | |
| BAB | Build America Bond | |
| CAB | Capital Appreciation Bonds | |
| GO | General Obligation Bonds | |
| GTD | GTD Guaranteed | |
| M/F | Multi-Family | |
| RB | Revenue Bond | |
| SAB | Special Assessment Bonds | |
| 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 |
9 |