Blackrock Muniyield California Fund (MYC) NPORT-P BlackRock MuniYield California Fund, Inc. (Oct 2020 report)

Schedule of Investments  (unaudited)  October 31, 2020 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Municipal Bonds
California — 81.1%
Corporate — 0.7%
California Municipal Finance Authority, RB, Series A, AMT, 4.00%, 07/15/29	$	2,395	$	2,365,949
County/City/Special District/School District — 22.6%
Beverly Hills Unified School District California, GO,
Series A, 3.00%, 08/01/41		2,000		2,137,880
California Statewide Communities Development Authority, SAB
Series A, 5.00%, 09/02/39		190		216,530
Series A, 5.00%, 09/02/44		110		123,499
Series A, 5.00%, 09/02/48		110		123,321
California Statewide Communities Development Authority, SAB, S/F Housing, Series C, 5.00%, 09/02/39		415		472,946
City & County of San Francisco California Refunding COP, Series A, 4.00%, 04/01/44		11,300		12,624,699
City of Los Angeles California, COP, (AMBAC), 6.20%, 11/01/31		1,900		1,908,189
City of Roseville California, ST, 4.00%, 09/01/50		240		248,602
City of San Jose California Hotel Tax Revenue, RB
6.50%, 05/01/36		1,520		1,562,590
6.50%, 05/01/42		1,860		1,909,216
Hayward Unified School District, GO, (AGM), 4.00%, 08/01/45		2,500		2,877,700
Los Angeles County Metropolitan Transportation Authority, Refunding RB, Series A, 5.00%, 07/01/42		2,000		2,439,640
Mount San Antonio Community College District, Refunding GO, Series A, 5.00%, 08/01/44		8,000		10,166,800
Orange County Community Facilities District, ST
4.00%, 08/15/40		180		194,324
4.00%, 08/15/50		165		175,440
Riverside County Public Financing Authority, RB, 5.25%, 11/01/45		5,000		5,879,800
San Francisco Bay Area Rapid Transit District, GO, Series A, 4.00%, 08/01/42		7,875		8,964,900
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB, Series A, AMT, 5.00%, 01/01/40		270		319,459
Santa Clara County Financing Authority RB, Series A, 4.00%, 05/01/45		15,000		17,136,600
West Contra Costa Unified School District, GO, Series A, 5.50%, 08/01/39		2,500		2,807,325
West Valley-Mission Community College District, GO, Series A, 4.00%, 08/01/44		3,420		4,003,965
				76,293,425
Education — 5.9%
California Municipal Finance Authority, RB(a)
Series A, 5.00%, 10/01/39		150		157,632
Series A, 5.00%, 10/01/49		255		262,885
Series A, 5.00%, 10/01/57		505		517,277
California Municipal Finance Authority, Refunding RB
5.00%, 08/01/39		290		301,751
5.00%, 08/01/48		940		975,584
California Public Finance Authority, RB, Series A, 5.00%, 07/01/54(a)		195		189,637
California School Finance Authority, RB
6.65%, 07/01/33		595		646,485
6.90%, 07/01/43		1,330		1,438,315

Security	Par (000)			Value
Education (continued)
California School Finance Authority, RB (continued)
Series A, 6.00%, 07/01/33	$	1,500		$	1,664,805
Series A, 5.00%, 06/01/39(a)		740			794,057
Series A, 6.30%, 07/01/43		3,000			3,317,190
Series A, 5.00%, 06/01/58(a)		1,465			1,542,660
California State University, Refunding RB, Series A, 5.00%, 11/01/41		2,000			2,395,100
California Statewide Communities Development Authority, RB, 5.00%, 06/01/51(a)		165			165,304
Hastings Campus Housing Finance Authority, RB
Series A, 5.00%, 07/01/45		410			426,092
Series A, 5.00%, 07/01/61		2,465			2,501,383
University of California, Refunding RB, Series BE, 4.00%, 05/15/40		2,045			2,416,924
					19,713,081
Health — 6.1%
California Health Facilities Financing Authority, RB
Series A, 5.00%, 08/15/23(b)		2,005			2,191,866
Series A, 5.25%, 11/01/41		9,700			10,107,303
California Health Facilities Financing Authority, Refunding RB
Series A, 4.00%, 04/01/49		3,005			3,296,335
Series B, 5.00%, 11/15/46		4,000			4,664,880
California Municipal Finance Authority, Refunding RB(a)
Series A, 5.00%, 11/01/39		135			142,769
Series A, 5.00%, 11/01/49		150			154,825
					20,557,978
Housing — 1.6%
California Community Housing Agency, RB, M/F Housing, Series A, 5.00%, 04/01/49(a)		1,670			1,841,810
California Housing Finance, RB, M/F Housing, Series A,
4.25%, 01/15/35(c)		—	(d)		564
Santa Clara County Housing Authority, RB, M/F Housing, Series A, AMT, 6.00%, 08/01/41		3,500			3,512,005
					5,354,379
State — 12.1%
California Statewide Communities Development Authority, SAB, S/F Housing
5.00%, 09/02/40		205			229,711
4.00%, 09/02/50		165			167,850
5.00%, 09/02/50		165			181,287
State of California, Refunding GO
5.00%, 09/01/35		10,115			12,217,807
4.00%, 03/01/36		20,000			23,855,000
5.25%, 10/01/39		3,500			4,259,745
					40,911,400
Tobacco — 4.8%
California County Tobacco Securitization Agency, Refunding RB
4.00%, 06/01/49		165			181,724
5.00%, 06/01/50		250			276,468
Series A, 4.00%, 06/01/49		240			266,138
California County Tobacco Securitization Agency, Refunding RB, CAB(e)
0.00%, 06/01/55		1,660			350,111
Series B-2, Subordinate, 0.00%, 06/01/55		2,485			430,999

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Schedule of Investments  (unaudited) (continued) October 31, 2020 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Tobacco (continued)
Golden State Tobacco Securitization Corp., Refunding RB
Series A-1, 5.00%, 06/01/47	$	325	$	333,437
Series A-2, 5.00%, 06/01/47		11,495		11,793,410
Tobacco Securitization Authority of Southern California, Refunding RB, 5.00%, 06/01/48		2,190		2,554,394
				16,186,681
Transportation — 20.1%
City of Long Beach California Harbor Revenue, ARB, Series A, AMT, 5.00%, 05/15/40		4,915		5,763,673
City of Los Angeles Department of Airports, ARB
Series A, AMT, 5.25%, 05/15/38		1,735		2,093,572
Series B, AMT, 5.00%, 05/15/36		2,865		3,319,360
Series C, AMT, 5.00%, 05/15/39		1,130		1,389,267
Sub-Series A, AMT, 4.00%, 05/15/36		2,080		2,265,266
Series C, AMT, Subordinate, 5.00%, 05/15/44		5,955		6,900,714
City of Los Angeles Department of Airports, Refunding ARB, AMT, 5.00%, 05/15/43		2,175		2,592,513
City of Los Angeles Department of Airports, Refunding RB
Series A, 5.00%, 05/15/39		3,060		3,796,389
Series A, 5.00%, 05/15/40		2,250		2,785,388
County of Sacramento California Airport System Revenue, Refunding RB
Series A, 5.00%, 07/01/41		8,290		9,520,236
Series C, AMT, 5.00%, 07/01/37		3,000		3,539,790
Los Angeles County Metropolitan Transportation Authority, Refunding RB, Series A, 5.00%, 07/01/41		1,300		1,588,158
Norman Y Mineta San Jose International Airport SJC, Refunding RB
Series A-1, AMT, (AGM), 5.50%, 03/01/30		1,000		1,015,150
Series A-1, AMT, 5.75%, 03/01/34		2,000		2,031,160
Series A-1, AMT, (AGM), 5.75%, 03/01/34		1,000		1,015,500
Series A-1, AMT, 6.25%, 03/01/34		1,400		1,424,094
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB
Series A, AMT, 5.25%, 05/01/33		1,440		1,584,216
Series A, AMT, 5.00%, 05/01/42		5,050		5,871,079
Series A, AMT, 5.00%, 05/01/44		5,000		5,940,500
Series D, AMT, 5.25%, 05/01/48		2,250		2,656,260
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding RB, Series A, AMT, 5.00%, 05/01/27		500		531,055
				67,623,340
Utilities — 7.2%
City of Richmond California Wastewater Revenue, Refunding RB, Series A, 5.00%, 08/01/42		5,185		6,330,989
Eastern Municipal Water District, Refunding RB, Series A, 5.00%, 07/01/42		3,000		3,576,990
Los Angeles Department of Water & Power Power System Revenue, RB
Series A, 5.00%, 07/01/42		3,440		4,142,241
Series A, 5.00%, 07/01/45		100		124,310

Security	Par (000)		Value
Utilities (continued)
Los Angeles Department of Water, Refunding RB, Series B, 5.00%, 07/01/43	$	5,175	$	6,390,763
Sacramento Municipal Utility District, Refunding RB, Series H, 4.00%, 08/15/45		3,200		3,765,312
				24,330,605
Total Municipal Bonds in California				273,336,838
Puerto Rico — 5.6%
State — 4.4%
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53		1,689		1,770,646
Series A-1, Restructured, 5.00%, 07/01/58		6,675		7,099,130
Series A-2, Restructured, 4.33%, 07/01/40		1,696		1,745,744
Series A-2, Restructured, 4.78%, 07/01/58		1,727		1,813,160
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(e)		8,295		2,385,310
				14,813,990
Tobacco — 0.0%
Children’s Trust Fund, Refunding RB, 5.50%, 05/15/39		95		96,882
Utilities — 1.2%
Puerto Rico Commonwealth Aqueduct & Sewer Authority, RB, Series A, Senior Lien, 5.00%, 07/01/33		2,185		2,217,797
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Refunding RB, Series A, Senior Lien, 6.00%, 07/01/38		1,740		1,742,975
				3,960,772
Total Municipal Bonds in Puerto Rico				18,871,644
Total Municipal Bonds — 86.7% (Cost: $274,890,529)				292,208,482
Municipal Bonds Transferred to Tender Option Bond Trusts(f)
California — 73.5%
County/City/Special District/School District — 19.8%
Los Angeles County Public Works Financing Authority, Refunding RB
Series A, 5.00%, 12/01/39		17,850		20,595,687
Series A, 5.00%, 12/01/44		14,095		16,147,087
Palomar Community College District, GO, Series C, 5.00%, 08/01/25(b)		15,140		17,729,849
Santa Monica Community College District, GO,
Series A, 5.00%, 08/01/43		10,000		12,368,000
				66,840,623
Education — 26.1%
California State University, Refunding RB
Series A, 5.00%, 11/01/41		9,775		11,706,053
Series A, 5.00%, 11/01/42(g)		13,430		16,260,103
Series A, 5.00%, 11/01/43		5,001		5,928,327
University of California, RB, Series AM, 5.25%, 05/15/44		11,950		13,670,919
University of California, Refunding RB
Series AZ, 5.00%, 05/15/43(g)		12,000		14,775,720
Series I, 5.00%, 05/15/40		21,875		25,477,149
				87,818,271

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Schedule of Investments  (unaudited) (continued) October 31, 2020 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Health — 4.0%
California Health Facilities Financing Authority, RB, Series A, 5.00%, 11/15/25(b)	$	11,000	$	13,528,570
State — 7.5%
State of California, GO, 4.00%, 03/01/46(g)		10,000		11,580,500
State of California, Refunding GO, 5.00%, 08/01/37		10,975		13,758,037
				25,338,537
Transportation — 9.1%
City of Los Angeles Department of Airports, ARB, AMT, Series A, 5.00%, 05/15/45		10,045		11,215,539
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB, AMT, Series E, 5.00%, 05/01/45(g)		16,250		19,261,612
				30,477,151
Utilities — 7.0%
Sacramento Municipal Utility District, Refunding RB, Series H, 4.00%, 08/15/45		20,000		23,533,200
Total Municipal Bonds in California				247,536,352
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 73.5% (Cost: $231,486,418)				247,536,352
Total Long-Term Investments — 160.2% (Cost: $506,376,947)				539,744,834
	Shares
Short-Term Securities
Money Market Funds — 0.2%
BlackRock Liquidity Funds California Money Fund, Institutional Class, 0.01%(h)(i)		635,078		635,078
Total Short-Term Securities — 0.2% (Cost: $635,078)				635,078
Total Investments — 160.4% (Cost: $507,012,025)				540,379,912
Other Assets Less Liabilities — 2.1%				6,946,440
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (31.1)%				(104,729,204	)
VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (31.4)%				(105,669,761	)
Net Assets Applicable to Common Shares — 100.0%			$	336,927,387

^(a)  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.

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

^(c)  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.

^(d)  Amount is less than 500.

^(e)  Zero-coupon bond.

(^f) 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.

^(g)  All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between May 1, 2025 to March 1, 2028, is $27,116,500.

^(h)  Affiliate of the Fund.

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

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 07/31/20		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value at 10/31/20		Shares Held at 10/31/20		Income		Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds California Money Fund, Institutional Class	$	3,424,210	$	—	$	(2,789,137	)(a)	$	12	$	(7	)	$	635,078		635,078	$	91	$	—

^(a) Represents net amount purchased (sold).

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Schedule of Investments  (unaudited) (continued) October 31, 2020 BlackRock MuniYield California Fund, Inc. (MYC)

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.

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)

• 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 investments categorized in the disclosure hierarchy. The breakdown of the Fund’s investments 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	$	—	$	292,208,482	$	—	$	292,208,482
Municipal Bonds Transferred to Tender Option Bond Trusts		—		247,536,352		—		247,536,352
Short-Term Securities
Money Market Funds		635,078		—		—		635,078
	$	635,078	$	539,744,834	$	—	$	540,379,912

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

	Level 1		Level 2			Level 3		Total
Liabilities
TOB Trust Certificates	$	—	$	(104,690,676	)	$	—	$	(104,690,676	)
VRDP Shares at Liquidation Value		—		(105,900,000	)		—		(105,900,000	)
	$	—	$	(210,590,676	)	$	—	$	(210,590,676	)

Portfolio Abbreviation
AGM	Assured Guaranty Municipal Corp.
AMBAC	AMBAC Assurance Corp.
AMT	Alternative Minimum Tax
ARB	Airport Revenue Bonds
CAB	Capital Appreciation Bonds
COP	Certificates of Participation
GO	General Obligation Bonds

Portfolio Abbreviation (continued)
M/F	Multi-Family
RB	Revenue Bond
S/F	Single-Family
SAB	Special Assessment Bonds
ST	Special Tax

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