Schedule of Investments (unaudited) April 30, 2023 | BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
Municipal Bonds | ||||||||
| Alabama — 4.5% | ||||||||
Black Belt Energy Gas District, RB, Series F, 5.50%, 11/01/53(a) | $ | 830 | $ | 880,433 | ||||
County of Jefferson Alabama Sewer Revenue, Refunding RB | ||||||||
Series A, Senior Lien, (AGM), 5.00%, 10/01/44 | 1,665 | 1,692,867 | ||||||
Series A, Senior Lien, (AGM), 5.25%, 10/01/48 | 3,175 | 3,251,175 | ||||||
Series D, Sub Lien, 6.00%, 10/01/42 | 7,410 | 7,838,417 | ||||||
Southeast Energy Authority A Cooperative District, RB(a) | ||||||||
Series A, 5.25%, 01/01/54 | 9,350 | 9,949,204 | ||||||
Series A-1, 5.50%, 01/01/53 | 1,405 | 1,516,523 | ||||||
|
| |||||||
| 25,128,619 | ||||||||
| Arizona — 4.0% | ||||||||
Glendale Industrial Development Authority, RB, 5.00%, 05/15/56 | 940 | 795,836 | ||||||
Industrial Development Authority of the City of Phoenix Arizona, RB, Series A, 5.00%, 07/01/46(b) | 3,575 | 3,232,068 | ||||||
Maricopa County Industrial Development Authority, RB, Series A, 4.00%, 01/01/44 | 5,905 | 5,678,048 | ||||||
Salt Verde Financial Corp., RB | 7,365 | 7,820,967 | ||||||
5.00%, 12/01/37 | 5,000 | 5,200,525 | ||||||
|
| |||||||
| 22,727,444 | ||||||||
| Arkansas — 0.8% | ||||||||
Arkansas Development Finance Authority, RB, Series A, AMT, 4.75%, 09/01/49(b) | 4,900 | 4,502,924 | ||||||
|
| |||||||
| California — 8.8% | ||||||||
Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/47 | 6,490 | 6,454,026 | ||||||
California Educational Facilities Authority, RB, | 2,010 | 2,368,041 | ||||||
California Enterprise Development Authority, RB, 8.00%, 11/15/62(b) | 785 | 778,436 | ||||||
California Health Facilities Financing Authority, Refunding RB | ||||||||
Series A, 5.00%, 07/01/23(c) | 2,560 | 2,568,028 | ||||||
Series A, 4.00%, 08/15/48 | 3,540 | 3,435,567 | ||||||
California Municipal Finance Authority, RB, S/F Housing | ||||||||
Series A, 5.25%, 08/15/39 | 305 | 307,271 | ||||||
Series A, 5.25%, 08/15/49 | 770 | 774,679 | ||||||
California Pollution Control Financing Authority, RB, Series A, AMT, 5.00%, 11/21/45(b) | 1,650 | 1,649,881 | ||||||
California State Public Works Board, RB, Series I, 5.00%, 11/01/38 | 1,605 | 1,622,345 | ||||||
California Statewide Financing Authority, RB, Series A, 6.00%, 05/01/43 | 3,285 | 3,286,761 | ||||||
City of Los Angeles Department of Airports, ARB, Series A, AMT, 4.00%, 05/15/42 | 2,815 | 2,727,287 | ||||||
City of Los Angeles Department of Airports, Refunding ARB | ||||||||
AMT, Subordinate, 5.00%, 05/15/46 | 2,415 | 2,562,643 | ||||||
Series D, AMT, Subordinate, 4.00%, 05/15/51 | 1,335 | 1,254,326 | ||||||
CMFA Special Finance Agency XII, RB, M/F Housing, Series A, 3.25%, 02/01/57(b) | 500 | 345,825 | ||||||
| Security | Par (000) | Value | ||||||
California (continued) | ||||||||
CSCDA Community Improvement Authority, RB, M/F Housing(b) | $ | 235 | $ | 190,545 | ||||
4.00%, 12/01/56 | 340 | 244,011 | ||||||
Series A, 4.00%, 06/01/58 | 1,410 | 1,100,244 | ||||||
Senior Lien, 3.13%, 06/01/57 | 1,215 | 835,496 | ||||||
Series A, Senior Lien, 4.00%, 12/01/58 | 615 | 475,927 | ||||||
Sacramento Area Flood Control Agency, Refunding SAB, 5.00%, 10/01/47 | 6,490 | 6,745,628 | ||||||
San Diego County Regional Airport Authority, ARB, Series B, AMT, Subordinate, 5.00%, 07/01/56 | 3,145 | 3,281,421 | ||||||
San Diego Public Facilities Financing Authority, Refunding RB, Series A, AMT, 4.00%, 08/01/45 | 1,000 | 1,009,050 | ||||||
State of California, GO, (AMBAC), 5.00%, 04/01/31 | 10 | 10,016 | ||||||
State of California, Refunding GO, 4.00%, 03/01/46 | 4,390 | 4,456,816 | ||||||
Stockton Public Financing Authority, RB, Series A, 6.25%, 10/01/23(c) | 740 | 749,545 | ||||||
|
| |||||||
| 49,233,815 | ||||||||
| Colorado — 2.5% | ||||||||
Board of Governors of Colorado State University System, Refunding RB, Series C, 4.00%, 03/01/47 | 4,265 | 4,209,380 | ||||||
City & County of Denver Colorado Airport System Revenue, Refunding ARB | ||||||||
Series A, AMT, 5.50%, 11/15/53 | 3,580 | 3,908,103 | ||||||
Series D, AMT, 5.75%, 11/15/45 | 870 | 982,307 | ||||||
Colorado Health Facilities Authority, RB 5.50%, 11/01/47 | 355 | 381,300 | ||||||
5.25%, 11/01/52 | 745 | 782,791 | ||||||
Colorado Health Facilities Authority, Refunding RB | ||||||||
Series A, 4.00%, 08/01/44 | 3,090 | 2,898,154 | ||||||
Series A, 4.00%, 11/15/50 | 1,125 | 1,048,751 | ||||||
|
| |||||||
| 14,210,786 | ||||||||
| Connecticut — 0.5% | ||||||||
Connecticut State Health & Educational Facilities Authority, Refunding RB, 4.00%, 07/01/38 | 3,000 | 2,964,591 | ||||||
|
| |||||||
| Delaware — 1.6% | ||||||||
Delaware River & Bay Authority, Refunding RB, 4.00%, 01/01/44 | 3,065 | 3,013,530 | ||||||
Delaware State Health Facilities Authority, Refunding RB, 4.00%, 10/01/49 | 3,720 | 3,493,645 | ||||||
Delaware Transportation Authority, RB, 5.00%, 06/01/55 | 2,430 | 2,483,013 | ||||||
|
| |||||||
| 8,990,188 | ||||||||
| District of Columbia — 7.6% | ||||||||
District of Columbia, Refunding RB, 5.00%, 10/01/48 | 4,875 | 4,981,124 | ||||||
District of Columbia, TA, 5.13%, 06/01/41 | 4,440 | 4,448,063 | ||||||
Metropolitan Washington Airports Authority Aviation Revenue, Refunding ARB, Series A, AMT, 4.00%, 10/01/39 | 795 | 786,902 | ||||||
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB | ||||||||
Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/31(d) | 8,350 | 6,348,973 | ||||||
Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/32(d) | 15,000 | 10,961,250 | ||||||
Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/33(d) | 13,410 | 9,370,693 | ||||||
| 1 |
|
Schedule of Investments (unaudited) (continued) April 30, 2023 | BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
District of Columbia (continued) | ||||||||
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB (continued) | ||||||||
Series B, Subordinate, 4.00%, 10/01/49 | $ | 3,780 | $ | 3,548,857 | ||||
Washington Metropolitan Area Transit Authority Dedicated Revenue, RB, Series A, 4.00%, 07/15/46 | 2,540 | 2,512,121 | ||||||
|
| |||||||
| 42,957,983 | ||||||||
| Florida — 3.6% | ||||||||
Alachua County Health Facilities Authority, RB, Series A, 5.00%, 12/01/44 | 4,825 | 4,858,939 | ||||||
Broward County Florida Water & Sewer Utility Revenue, RB, Series A, 4.00%, 10/01/45 | 445 | 438,875 | ||||||
Collier County Health Facilities Authority, Refunding RB, Series A, 5.00%, 05/01/45 | 2,790 | 2,803,601 | ||||||
County of Miami-Dade Florida Transit System, RB, 5.00%, 07/01/52 | 5,000 | 5,387,925 | ||||||
County of Miami-Dade Seaport Department, Refunding RB, Series A, AMT, 5.25%, 10/01/52 | 980 | 1,042,145 | ||||||
County of Pasco Florida, RB, (AGM), 5.00%, 09/01/48 | 5,000 | 5,242,705 | ||||||
Florida Development Finance Corp., RB, Series A, 5.00%, 06/15/56 | 220 | 212,951 | ||||||
|
| |||||||
| 19,987,141 | ||||||||
| Georgia — 3.6% | ||||||||
Cobb County Kennestone Hospital Authority, RB, 4.00%, 04/01/52 | 2,400 | 2,192,508 | ||||||
Gainesville & Hall County Hospital Authority, RB, Series A, 4.00%, 02/15/51 | 1,105 | 1,016,441 | ||||||
Georgia Ports Authority, ARB, 4.00%, 07/01/52 | 1,450 | 1,393,776 | ||||||
Main Street Natural Gas, Inc., RB | ||||||||
Series A, 5.00%, 05/15/35 | 1,040 | 1,098,909 | ||||||
Series A, 5.00%, 05/15/36 | 1,040 | 1,084,114 | ||||||
Series A, 5.00%, 05/15/37 | 1,145 | 1,176,902 | ||||||
Series A, 5.00%, 05/15/38 | 630 | 643,697 | ||||||
Series A, 5.00%, 05/15/49 | 2,100 | 2,067,231 | ||||||
Series A, 5.00%, 06/01/53(a) | 4,470 | 4,708,211 | ||||||
Series B, 5.00%, 12/01/52(a) | 2,105 | 2,204,973 | ||||||
Municipal Electric Authority of Georgia, RB, 4.00%, 01/01/49 | 3,290 | 2,899,638 | ||||||
|
| |||||||
| 20,486,400 | ||||||||
| Idaho — 1.8% | ||||||||
Power County Industrial Development Corp., RB, AMT, 6.45%, 08/01/32 | 10,000 | 10,013,340 | ||||||
|
| |||||||
| Illinois — 8.8% | ||||||||
Chicago Board of Education, GO | ||||||||
Series A, 5.00%, 12/01/42 | 1,115 | 1,102,712 | ||||||
Series C, 5.25%, 12/01/35 | 3,095 | 3,126,835 | ||||||
Series D, 5.00%, 12/01/46 | 4,040 | 3,993,231 | ||||||
Series H, 5.00%, 12/01/36 | 460 | 465,027 | ||||||
Chicago Board of Education, Refunding GO | ||||||||
Series C, 5.00%, 12/01/25 | 1,365 | 1,389,327 | ||||||
Series D, 5.00%, 12/01/25 | 1,735 | 1,765,923 | ||||||
Series D, 5.00%, 12/01/31 | 1,000 | 1,030,078 | ||||||
Series G, 5.00%, 12/01/34 | 455 | 465,790 | ||||||
Chicago O’Hare International Airport, Refunding ARB, Series B, Senior Lien, 5.00%, 01/01/53 | 3,035 | 3,155,835 | ||||||
Cook County Community College District No. 508, GO, 5.50%, 12/01/38 | 1,635 | 1,639,617 | ||||||
| Security | Par (000) | Value | ||||||
Illinois (continued) | ||||||||
Illinois Finance Authority, RB | ||||||||
Series A, 5.00%, 02/15/47 | $ | 500 | $ | 484,397 | ||||
Series A, 5.00%, 02/15/50 | 270 | 257,511 | ||||||
Illinois Finance Authority, Refunding RB | ||||||||
Series C, 4.00%, 02/15/27(c) | 135 | 141,468 | ||||||
Series C, 4.00%, 02/15/41 | 2,860 | 2,820,867 | ||||||
Metropolitan Pier & Exposition Authority, RB, Series A, 5.00%, 06/15/57 | 1,835 | 1,840,615 | ||||||
Metropolitan Pier & Exposition Authority, Refunding RB 4.00%, 06/15/50 | 570 | 491,480 | ||||||
Series B, (AGM), 0.00%, 06/15/44(d) | 10,925 | 4,037,541 | ||||||
Series B, (AGM), 0.00%, 06/15/47(d) | 27,225 | 8,410,646 | ||||||
State of Illinois, GO | 4,000 | 4,015,436 | ||||||
5.00%, 02/01/39 | 3,195 | 3,206,403 | ||||||
Series A, 5.00%, 04/01/38 | 2,510 | 2,520,364 | ||||||
State of Illinois, Refunding GO, Series B, 5.00%, 10/01/28 | 1,000 | 1,085,883 | ||||||
University of Illinois, RB, Series A, 5.00%, 04/01/44 | 2,045 | 2,064,747 | ||||||
|
| |||||||
| 49,511,733 | ||||||||
| Indiana — 2.3% | ||||||||
City of Valparaiso Indiana, RB | ||||||||
AMT, 6.75%, 01/01/34 | 1,635 | 1,662,038 | ||||||
AMT, 7.00%, 01/01/44 | 3,950 | 4,006,943 | ||||||
Indiana Finance Authority, RB(c) | ||||||||
Series A, AMT, 5.00%, 07/01/23 | 3,925 | 3,933,687 | ||||||
Series A, AMT, 5.25%, 07/01/23 | 840 | 842,457 | ||||||
Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 01/15/40 | 2,580 | 2,582,090 | ||||||
|
| |||||||
| 13,027,215 | ||||||||
| Kansas — 0.1% | ||||||||
Ellis County Unified School District No. 489 Hays, Refunding GO, Series B, (AGM), 4.00%, 09/01/52 | 530 | 497,271 | ||||||
|
| |||||||
| Kentucky — 0.5% | ||||||||
Kentucky Public Transportation Infrastructure Authority, RB, CAB, Series C, Convertible, 6.75%, 07/01/43(e) | 2,485 | 2,834,003 | ||||||
|
| |||||||
| Louisiana — 0.3% | ||||||||
Lafayette Parish School Board Sale Tax Revenue, RB, 4.00%, 04/01/53 | 760 | 693,217 | ||||||
Tobacco Settlement Financing Corp., Refunding RB, Series A, 5.25%, 05/15/35 | 835 | 839,162 | ||||||
|
| |||||||
| 1,532,379 | ||||||||
| Maryland — 1.0% | ||||||||
City of Baltimore Maryland, RB, Series A, 5.00%, 07/01/46 | 3,415 | 3,538,326 | ||||||
Maryland Health & Higher Educational Facilities Authority, RB | ||||||||
Series 2017, 5.00%, 12/01/46 | 880 | 905,149 | ||||||
Series B, 4.00%, 04/15/50 | 1,250 | 1,198,180 | ||||||
|
| |||||||
| 5,641,655 | ||||||||
| Massachusetts — 3.5% | ||||||||
Commonwealth of Massachusetts Transportation Fund Revenue, RB, Series A, 4.00%, 06/01/45 | 4,335 | 4,260,551 | ||||||
Commonwealth of Massachusetts, GO | ||||||||
Series C, 5.00%, 10/01/47 | 2,740 | 3,036,386 | ||||||
Series C, 5.00%, 10/01/52 | 2,835 | 3,108,200 | ||||||
SCHEDULE OF INVESTMENTS | 2 |
Schedule of Investments (unaudited) (continued) April 30, 2023 | BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
Massachusetts (continued) | ||||||||
Massachusetts Bay Transportation Authority Sales Tax Revenue, Refunding RB, Series A-1, 5.25%, 07/01/29 | $ | 3,250 | $ | 3,778,889 | ||||
Massachusetts Development Finance Agency, RB, Series A, 5.00%, 01/01/47 | 3,000 | 3,009,531 | ||||||
Massachusetts Port Authority, ARB, Series E, AMT, 5.00%, 07/01/46 | 2,325 | 2,442,652 | ||||||
|
| |||||||
| 19,636,209 | ||||||||
| Michigan — 4.4% | ||||||||
Great Lakes Water Authority Sewage Disposal System Revenue, RB | ||||||||
Series B, 2nd Lien, 5.25%, 07/01/47 | 1,125 | 1,203,015 | ||||||
Series B, 2nd Lien, 5.50%, 07/01/52 | 2,655 | 2,864,482 | ||||||
Series A, Senior Lien, 5.25%, 07/01/52 | 2,655 | 2,888,717 | ||||||
Great Lakes Water Authority Water Supply System Revenue, RB | ||||||||
Series A, Senior Lien, 5.25%, 07/01/52 | 2,655 | 2,883,019 | ||||||
Series B, Senior Lien, 5.50%, 07/01/52 | 2,655 | 2,891,914 | ||||||
Michigan Finance Authority, RB 4.00%, 02/15/47 | 820 | 777,650 | ||||||
4.00%, 02/15/50 | 4,730 | 4,403,663 | ||||||
4.00%, 02/15/44 | 1,710 | 1,651,222 | ||||||
Michigan Finance Authority, Refunding RB, Series A, 4.00%, 12/01/49 | 3,110 | 2,879,328 | ||||||
Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43 | 2,255 | 2,285,267 | ||||||
|
| |||||||
| 24,728,277 | ||||||||
| Minnesota — 1.2% | ||||||||
Duluth Economic Development Authority, Refunding RB | ||||||||
Series A, 4.25%, 02/15/48 | 2,160 | 2,083,614 | ||||||
Series A, 5.25%, 02/15/53 | 1,190 | 1,229,777 | ||||||
Series A, 5.25%, 02/15/58 | 3,125 | 3,221,318 | ||||||
|
| |||||||
| 6,534,709 | ||||||||
| Missouri — 2.5% | ||||||||
Health & Educational Facilities Authority of the State of Missouri, Refunding RB | 510 | 510,000 | ||||||
Series A, 4.00%, 02/15/49 | 5,555 | 5,128,026 | ||||||
Series C, 5.00%, 11/15/42 | 5,470 | 5,662,380 | ||||||
Kansas City Industrial Development Authority, ARB, Class B, AMT, 5.00%, 03/01/54 | 2,680 | 2,745,019 | ||||||
|
| |||||||
| 14,045,425 | ||||||||
| Nebraska — 1.5% | ||||||||
Omaha Public Power District, RB, Series A, (AGM-CR), 4.00%, 02/01/51 | 8,700 | 8,283,627 | ||||||
|
| |||||||
| New Hampshire(b) — 0.7% | ||||||||
New Hampshire Business Finance Authority, Refunding RB | ||||||||
Series B, 4.63%, 11/01/42 | 3,205 | 2,696,456 | ||||||
Series C, AMT, 4.88%, 11/01/42 | 1,665 | 1,446,757 | ||||||
|
| |||||||
| 4,143,213 | ||||||||
| New Jersey — 10.2% | ||||||||
Casino Reinvestment Development Authority, Inc., Refunding RB | 3,490 | 3,538,832 | ||||||
5.25%, 11/01/44 | 3,180 | 3,205,313 | ||||||
| Security | Par (000) | Value | ||||||
New Jersey (continued) | ||||||||
New Jersey Economic Development Authority, RB | $ | 3,565 | $ | 3,903,889 | ||||
Series EEE, 5.00%, 06/15/48 | 12,340 | 12,898,212 | ||||||
Series B, AMT, 6.50%, 04/01/31 | 2,005 | 2,126,311 | ||||||
New Jersey Economic Development Authority, Refunding ARB, AMT, 5.00%, 10/01/47 | 3,040 | 2,867,881 | ||||||
New Jersey Higher Education Student Assistance Authority, Refunding RB | ||||||||
Series B, AMT, 4.00%, 12/01/41 | 2,570 | 2,556,086 | ||||||
Series C, AMT, Subordinate, 5.00%, 12/01/52 | 2,595 | 2,680,715 | ||||||
New Jersey Transportation Trust Fund Authority, RB | ||||||||
Series C, (AMBAC), 0.00%, 12/15/35(d) | 7,395 | 4,351,802 | ||||||
Series S, 5.00%, 06/15/46 | 2,415 | 2,533,089 | ||||||
New Jersey Turnpike Authority, RB, Series E, 5.00%, 01/01/45 | 5,425 | 5,541,388 | ||||||
Tobacco Settlement Financing Corp., Refunding RB | 5,120 | 5,334,103 | ||||||
Sub-Series B, 5.00%, 06/01/46 | 6,085 | 6,036,904 | ||||||
|
| |||||||
| 57,574,525 | ||||||||
| New York — 22.9% | ||||||||
City of New York, GO | ||||||||
Series A-1, 4.00%, 09/01/46 | 1,640 | 1,594,397 | ||||||
Series C, 5.00%, 08/01/43 | 2,330 | 2,539,267 | ||||||
Erie Tobacco Asset Securitization Corp., Refunding RB, Series A, 5.00%, 06/01/45 | 4,070 | 3,717,896 | ||||||
Metropolitan Transportation Authority, RB | ||||||||
Series B, 5.25%, 11/15/38 | 4,960 | 5,041,289 | ||||||
Series B, 5.25%, 11/15/39 | 1,765 | 1,793,881 | ||||||
Metropolitan Transportation Authority, Refunding RB | ||||||||
Series C-1, 4.75%, 11/15/45 | 3,335 | 3,375,570 | ||||||
Series C-1, 5.00%, 11/15/50 | 1,085 | 1,112,845 | ||||||
Series C-1, 5.25%, 11/15/55 | 1,605 | 1,672,625 | ||||||
Monroe County Industrial Development Corp., Refunding RB, Series A, 4.00%, 07/01/50 | 3,335 | 3,182,997 | ||||||
New York City Municipal Water Finance Authority, Refunding RB | ||||||||
Series BB-1, 4.00%, 06/15/45 | 1,545 | 1,535,401 | ||||||
Series DD, 4.13%, 06/15/46 | 9,330 | 9,227,809 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, RB | ||||||||
Subordinate, 4.00%, 05/01/47 | 5,000 | 4,914,140 | ||||||
Series F-1, Subordinate, 4.00%, 02/01/51 | 840 | 808,424 | ||||||
New York Counties Tobacco Trust IV, Refunding RB, Series A, 6.25%, 06/01/41(b) | 3,400 | 3,400,503 | ||||||
New York Liberty Development Corp., Refunding RB | 1,760 | 1,761,544 | ||||||
Series 1, 5.00%, 11/15/44(b) | 8,145 | 7,858,174 | ||||||
Series A, 2.88%, 11/15/46 | 7,060 | 5,014,365 | ||||||
New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/55 | 2,765 | 2,616,464 | ||||||
New York State Dormitory Authority, RB, Series A, 4.00%, 03/15/47 | 1,575 | 1,545,050 | ||||||
New York State Dormitory Authority, Refunding RB | ||||||||
Series A, 4.00%, 03/15/44 | 2,270 | 2,218,662 | ||||||
Series A, 4.00%, 03/15/47 | 7,890 | 7,654,405 | ||||||
Series A, 4.00%, 03/15/48 | 1,395 | 1,347,175 | ||||||
Series D, 4.00%, 02/15/47 | 4,730 | 4,575,892 | ||||||
New York State Urban Development Corp., RB | ||||||||
Series A, 4.00%, 03/15/46 | 13,985 | 13,523,076 | ||||||
Series A, 4.00%, 03/15/49 | 1,870 | 1,815,071 | ||||||
| 3 |
|
Schedule of Investments (unaudited) (continued) April 30, 2023 | BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
New York (continued) | ||||||||
New York State Urban Development Corp., Refunding RB | $ | 6,675 | $ | 6,403,167 | ||||
Series E, 4.00%, 03/15/46 | 6,135 | 5,950,036 | ||||||
New York Transportation Development Corp., ARB, Series A, AMT, 5.00%, 07/01/46 | 1,525 | 1,509,106 | ||||||
New York Transportation Development Corp., RB, AMT, 5.00%, 10/01/35 | 2,230 | 2,341,014 | ||||||
Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55 | 5,395 | 5,576,110 | ||||||
Triborough Bridge & Tunnel Authority Sales Tax Revenue, RB | ||||||||
Series A, 4.00%, 05/15/48 | 4,000 | 3,909,500 | ||||||
Series A, 5.00%, 05/15/48 | 1,625 | 1,785,389 | ||||||
Series A, 4.13%, 05/15/53 | 3,275 | 3,194,746 | ||||||
Triborough Bridge & Tunnel Authority, RB | ||||||||
Series A, 5.00%, 11/15/49 | 1,790 | 1,919,814 | ||||||
Series A, 5.00%, 11/15/54 | 1,725 | 1,837,994 | ||||||
Westchester County Healthcare Corp., RB, Series A, Senior Lien, 5.00%, 11/01/44 | 411 | 408,516 | ||||||
|
| |||||||
| 128,682,314 | ||||||||
| Ohio — 4.8% | ||||||||
Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55 | 6,725 | 6,266,483 | ||||||
County of Allen Ohio Hospital Facilities Revenue, Refunding RB, Series A, 4.00%, 11/01/44 | 4,160 | 4,062,802 | ||||||
County of Franklin Ohio, RB | ||||||||
Series 2017, 5.00%, 12/01/46 | 840 | 864,724 | ||||||
Series A, 4.00%, 12/01/44 | 1,060 | 1,009,545 | ||||||
County of Hamilton Ohio, RB, Series CC, 5.00%, 11/15/49 | 1,130 | 1,258,270 | ||||||
County of Hamilton Ohio, Refunding RB | 1,245 | 1,160,405 | ||||||
Series A, 3.75%, 08/15/50 | 2,190 | 1,937,648 | ||||||
Northeast Ohio Regional Sewer District, Refunding RB, 4.00%, 11/15/43 | 8,435 | 8,446,024 | ||||||
Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(b) | 545 | 501,772 | ||||||
State of Ohio, RB, AMT, 5.00%, 06/30/53 | 1,685 | 1,686,142 | ||||||
|
| |||||||
| 27,193,815 | ||||||||
| Oklahoma — 1.1% | ||||||||
Oklahoma Development Finance Authority, RB, Series B, 5.50%, 08/15/57 | 2,460 | 2,259,793 | ||||||
Oklahoma Turnpike Authority, RB, Series A, 4.00%, 01/01/48 | 4,320 | 4,231,168 | ||||||
|
| |||||||
| 6,490,961 | ||||||||
| Oregon — 0.7% | ||||||||
Port of Portland Oregon Airport Revenue, Refunding ARB, 29th Series, AMT, 5.50%, 07/01/48 | 3,725 | 4,112,296 | ||||||
|
| |||||||
| Pennsylvania — 5.0% | ||||||||
Allegheny County Airport Authority, ARB, Series A, AMT, (AGM-CR), 4.00%, 01/01/56 | 1,275 | 1,161,364 | ||||||
Commonwealth Financing Authority, RB, (AGM), 4.00%, 06/01/39 | 6,325 | 6,235,318 | ||||||
Montgomery County Higher Education and Health Authority, Refunding RB 4.00%, 09/01/51 | 1,115 | 1,005,149 | ||||||
Series A, 5.00%, 09/01/48 | 740 | 757,651 | ||||||
| Security | Par (000) | Value | ||||||
Pennsylvania (continued) | ||||||||
Montgomery County Higher Education and Health Authority, Refunding RB (continued) | ||||||||
Series A, 4.00%, 09/01/49 | $ | 1,185 | $ | 1,076,642 | ||||
Pennsylvania Economic Development Financing Authority, RB, AMT, 5.00%, 06/30/42 | 1,765 | 1,769,635 | ||||||
Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, 5.50%, 11/01/44 | 3,210 | 3,212,883 | ||||||
Pennsylvania Housing Finance Agency, Refunding RB, S/F Housing, Series 2022, 4.25%, 10/01/52 | 2,335 | 2,381,670 | ||||||
Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, Refunding RB, Series B, 4.00%, 12/01/53 | 2,290 | 2,144,645 | ||||||
Pennsylvania Turnpike Commission, RB | ||||||||
Series A, 5.00%, 12/01/44 | 2,305 | 2,342,698 | ||||||
Series A, Subordinate, (BAM-TCRS), 4.00%, 12/01/50 | 1,550 | 1,503,689 | ||||||
Pennsylvania Turnpike Commission, Refunding RB, Series C, 4.00%, 12/01/51 | 4,515 | 4,287,051 | ||||||
|
| |||||||
| 27,878,395 | ||||||||
| Puerto Rico — 5.3% | ||||||||
Commonwealth of Puerto Rico, GO | ||||||||
Series A1, Restructured, 5.63%, 07/01/29 | 2,931 | 3,109,678 | ||||||
Series A1, Restructured, 5.75%, 07/01/31 | 2,646 | 2,850,910 | ||||||
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, Series A1, Restructured, 4.75%, 07/01/53 | 3,817 | 3,583,556 | ||||||
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, CAB, Series A1, Restructured, 0.00%, 07/01/46(d) | 9,662 | 2,627,223 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB | ||||||||
Series A1, Restructured, 5.00%, 07/01/58 | 12,161 | 11,694,784 | ||||||
Series A-2, Restructured, 4.78%, 07/01/58 | 6,236 | 5,775,877 | ||||||
|
| |||||||
| 29,642,028 | ||||||||
| Rhode Island — 0.1% | ||||||||
Central Falls Detention Facility Corp., Refunding RB, 7.25%, 07/15/35(f)(g) | 4,155 | 623,250 | ||||||
|
| |||||||
| South Carolina — 4.6% | ||||||||
South Carolina Jobs-Economic Development Authority, Refunding RB | 3,835 | 3,742,040 | ||||||
Series A, 5.00%, 05/01/48 | 3,030 | 3,075,953 | ||||||
South Carolina Ports Authority, ARB, Series B, AMT, 4.00%, 07/01/49 | 1,330 | 1,213,899 | ||||||
South Carolina Public Service Authority, RB, Series A, 5.50%, 12/01/54 | 8,090 | 8,163,247 | ||||||
South Carolina Public Service Authority, Refunding RB | ||||||||
Series A, 5.00%, 12/01/50 | 5,000 | 5,027,935 | ||||||
Series E, 5.25%, 12/01/55 | 4,550 | 4,618,027 | ||||||
|
| |||||||
| 25,841,101 | ||||||||
| Tennessee — 2.5% | ||||||||
Memphis-Shelby County Airport Authority, ARB, Series A, AMT, 5.00%, 07/01/45 | 2,665 | 2,775,030 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, Series A, 5.00%, 07/01/40 | 1,440 | 1,473,542 | ||||||
SCHEDULE OF INVESTMENTS | 4 |
Schedule of Investments (unaudited) (continued) April 30, 2023 | BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
Tennessee (continued) | ||||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Refunding RB, Series A, 5.25%, 10/01/58 | $ | 2,025 | $ | 1,977,913 | ||||
Tennessee Energy Acquisition Corp., Refunding RB, Series A-1, 5.00%, 05/01/53(a) | 7,325 | 7,584,385 | ||||||
|
| |||||||
| 13,810,870 | ||||||||
| Texas — 8.9% | ||||||||
Arlington Higher Education Finance Corp., RB(b) | 885 | 939,411 | ||||||
7.88%, 11/01/62 | 755 | 776,462 | ||||||
Austin Independent School District, GO, 4.00%, 08/01/48 | 1,500 | 1,479,384 | ||||||
City of Austin Texas Airport System Revenue, ARB, Series B, AMT, 5.00%, 11/15/44 | 5,755 | 5,971,912 | ||||||
City of Houston Texas Airport System Revenue, ARB, Series B-1, AMT, 5.00%, 07/15/30 | 3,600 | 3,583,328 | ||||||
City of Houston Texas Airport System Revenue, Refunding RB, AMT, 5.00%, 07/01/29 | 1,765 | 1,764,954 | ||||||
Clifton Higher Education Finance Corp., RB, 6.00%, 08/15/43 | 1,525 | 1,534,949 | ||||||
Cypress-Fairbanks Independent School District, GO, (PSF), 4.00%, 02/15/48 | 1,225 | 1,203,706 | ||||||
Harris County Cultural Education Facilities Finance Corp., RB, Series B, 6.38%, 01/01/33 | 40 | 40,008 | ||||||
North Texas Tollway Authority, RB, Series B, 0.00%, 09/01/31(c)(d) | 4,110 | 2,042,559 | ||||||
San Antonio Public Facilities Corp., Refunding RB, Convertible, 4.00%, 09/15/42 | 5,700 | 5,543,945 | ||||||
San Antonio Water System, Refunding RB, Series A, Junior Lien, 5.00%, 05/15/48 | 2,695 | 2,815,092 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., RB | ||||||||
Series A, 4.00%, 07/01/53 | 1,280 | 1,165,861 | ||||||
Series A, 5.00%, 07/01/53 | 1,570 | 1,634,188 | ||||||
Series B, 5.00%, 07/01/48 | 9,585 | 9,869,147 | ||||||
Texas Private Activity Bond Surface Transportation Corp., RB, AMT, 5.00%, 06/30/58 | 2,435 | 2,437,065 | ||||||
Texas Water Development Board, RB, 4.00%, 10/15/45 | 2,735 | 2,714,342 | ||||||
Waller Consolidated Independent School District, GO, (BAM), 4.00%, 02/15/48 | 5,000 | 4,739,930 | ||||||
|
| |||||||
| 50,256,243 | ||||||||
| Utah — 0.7% | ||||||||
City of Salt Lake City Utah Airport Revenue, ARB | ||||||||
Series A, AMT, 5.00%, 07/01/47 | 1,920 | 1,956,630 | ||||||
Series A, AMT, 5.00%, 07/01/48 | 1,845 | 1,882,987 | ||||||
|
| |||||||
| 3,839,617 | ||||||||
| Virginia — 2.0% | ||||||||
Hampton Roads Transportation Accountability Commission, RB | ||||||||
Series A, 4.00%, 07/01/52 | 5,495 | 5,282,305 | ||||||
Series A, Senior Lien, 4.00%, 07/01/50 | 1,115 | 1,061,247 | ||||||
Series A, Senior Lien, 4.00%, 07/01/55 | 4,950 | 4,750,515 | ||||||
|
| |||||||
| 11,094,067 | ||||||||
| Security | Par (000) | Value | ||||||
Washington — 1.1% | ||||||||
Port of Seattle Washington, ARB | ||||||||
Series A, AMT, 5.00%, 05/01/43 | $ | 3,120 | $ | 3,209,872 | ||||
Series C, AMT, 5.00%, 04/01/40 | 1,565 | 1,585,188 | ||||||
Port of Seattle Washington, Refunding ARB, AMT, Intermediate Lien, 5.50%, 08/01/47 | 1,330 | 1,448,878 | ||||||
|
| |||||||
| 6,243,938 | ||||||||
| Wisconsin(b) — 0.2% | ||||||||
Public Finance Authority, RB | ||||||||
Series A, 5.00%, 07/15/39 | 190 | 170,427 | ||||||
Series A, 5.00%, 07/15/49 | 720 | 599,890 | ||||||
Series A, 5.00%, 07/15/54 | 345 | 281,729 | ||||||
|
| |||||||
| 1,052,046 | ||||||||
|
| |||||||
Total Municipal Bonds — 136.2% | 765,954,413 | |||||||
|
| |||||||
Municipal Bonds Transferred to Tender Option Bond Trusts(h) |
| |||||||
| Colorado — 1.3% | ||||||||
County of Adams Colorado, Refunding COP, 4.00%, 12/01/45 | 7,820 | 7,592,266 | ||||||
|
| |||||||
| District of Columbia — 1.8% | ||||||||
District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2, 4.10%, 09/01/39 | 10,265 | 10,015,381 | ||||||
|
| |||||||
| Georgia — 1.7% | ||||||||
Main Street Natural Gas, Inc., RB, Series B, 5.00%, 12/01/52 | 8,998 | 9,425,061 | ||||||
|
| |||||||
| Nebraska — 0.8% | ||||||||
Central Plains Energy Project, RB, Series 1, 5.00%, 05/01/53 | 4,302 | 4,489,722 | ||||||
|
| |||||||
| Wisconsin — 1.0% | ||||||||
Wisconsin Health & Educational Facilities Authority, Refunding RB, 4.00%, 12/01/46 | 5,950 | 5,658,944 | ||||||
|
| |||||||
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 6.6% |
| 37,181,374 | ||||||
|
| |||||||
Total Long-Term Investments — 142.8% |
| 803,135,787 | ||||||
|
| |||||||
| 5 |
|
Schedule of Investments (unaudited) (continued) April 30, 2023 | BlackRock MuniYield Fund, Inc. (MYD) (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
Short-Term Securities | ||||||||
| Money Market Funds — 4.1% | ||||||||
BlackRock Liquidity Funds, MuniCash, Institutional Class, 3.27%(i)(j) | 22,953,575 | $ | 22,951,279 | |||||
|
| |||||||
Total Short-Term Securities — 4.1% | 22,951,279 | |||||||
|
| |||||||
Total Investments — 146.9% | 826,087,066 | |||||||
Other Assets Less Liabilities — 1.9% | 10,155,387 | |||||||
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (4.1)% |
| (22,797,646 | ) | |||||
VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (44.7)% |
| (251,116,186 | ) | |||||
|
| |||||||
Net Assets Applicable to Common Shares — 100.0% |
| $ | 562,328,621 | |||||
|
| |||||||
| (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) | 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. |
| (f) | Issuer filed for bankruptcy and/or is in default. |
| (g) | Non-income producing security. |
| (h) | 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. |
| (i) | Affiliate of the Fund. |
| (j) | 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 | $ | 12,963,148 | $ | 9,984,079 | (a) | $ | — | $ | 4,626 | $ | (574 | ) | $ | 22,951,279 | 22,953,575 | $ | 317,895 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
| (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 | 123 | 06/21/23 | $ | 14,201 | $ | (282,424 | ) | |||||||||
U.S. Long Bond | 186 | 06/21/23 | 24,529 | (668,470 | ) | |||||||||||
5-Year U.S. Treasury Note | 99 | 06/30/23 | 10,885 | (155,622 | ) | |||||||||||
|
| |||||||||||||||
| $ | (1,106,516 | ) | ||||||||||||||
|
| |||||||||||||||
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 |
SCHEDULE OF INVESTMENTS | 6 |
Schedule of Investments (unaudited) (continued) April 30, 2023 | BlackRock MuniYield Fund, Inc. (MYD) |
Fair Value Hierarchy as of Period End (continued)
| • | 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 | $ | — | $ | 765,954,413 | $ | — | $ | 765,954,413 | ||||||||
Municipal Bonds Transferred to Tender Option Bond Trusts | — | 37,181,374 | — | 37,181,374 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 22,951,279 | — | — | 22,951,279 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
| $ | 22,951,279 | $ | 803,135,787 | $ | — | $ | 826,087,066 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(a) | ||||||||||||||||
Liabilities | ||||||||||||||||
Interest Rate Contracts | $ | (1,106,516 | ) | $ | — | $ | — | $ | (1,106,516 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
| (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 | $ | — | $ | (22,595,460 | ) | $ | — | $ | (22,595,460 | ) | ||||||
VRDP Shares at Liquidation Value | — | (251,400,000 | ) | — | (251,400,000 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
| $ | — | $ | (273,995,460 | ) | $ | — | $ | (273,995,460 | ) | |||||||
|
|
|
|
|
|
|
| |||||||||
| Portfolaio 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 | |
| CAB | Capital Appreciation Bonds | |
| COP | Certificates of Participation | |
| CR | Custodian Receipt | |
| GO | General Obligation Bonds | |
| M/F | Multi-Family | |
| Portfolio Abbreviation (continued) | ||
| PSF | Permanent School Fund | |
| RB | Revenue Bond | |
| S/F | Single-Family | |
| SAB | Special Assessment Bonds | |
| TA | Tax Allocation | |
| 7 |
|