Blackrock Muniyield California Fund (MYC) NPORT-P BlackRock MuniYield California Fund, Inc. (Oct 2021 report)

Schedule of Investments  (unaudited)  October 31, 2021 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Municipal Bonds
California — 83.3%
Corporate — 0.9%
California Community Choice Financing Authority RB, Series B-1, 4.00%, 02/01/52(a)	$	800	$	958,442
California Municipal Finance Authority, RB, Series A, AMT, 4.00%, 07/15/29		1,835		2,045,797
				3,004,239
County/City/Special District/School District — 21.2%
Beverly Hills Unified School District California, GO, Series A, 3.00%, 08/01/41		2,000		2,110,108
California Statewide Communities Development Authority, SAB
Series A, 5.00%, 09/02/39		190		231,384
Series A, 5.00%, 09/02/44		110		132,210
Series A, 5.00%, 09/02/48		110		130,098
California Statewide Communities Development Authority, SAB, S/F Housing
5.00%, 09/02/40		205		246,724
4.00%, 09/02/50		165		179,275
5.00%, 09/02/50		165		195,595
Series C, 5.00%, 09/02/39		415		505,390
California Statewide Communities Development Authority, ST
4.00%, 09/01/41		155		173,286
4.00%, 09/01/51		295		326,141
City & County of San Francisco California, Refunding COP, Series A, 4.00%, 04/01/44		11,300		12,794,831
City of Los Angeles California, COP, (AMBAC), 6.20%, 11/01/31		1,800		1,808,055
City of Roseville California, ST, 4.00%, 09/01/50		240		264,477
City of San Jose California Hotel Tax Revenue, RB 6.50%, 05/01/36		1,520		1,526,962
6.50%, 05/01/42		1,860		1,868,348
Los Angeles County Metropolitan Transportation Authority, Refunding RB, Series A, 5.00%, 07/01/42		2,000		2,418,086
Mount San Antonio Community College District, Refunding GO, Series A, Election 2018, 5.00%, 08/01/44		8,000		10,047,280
Orange County Community Facilities District, ST 4.00%, 08/15/40		180		206,724
4.00%, 08/15/50		165		187,379
Riverside County Public Financing Authority, RB, 5.25%, 11/01/45(b)		5,000		5,932,700
San Francisco Bay Area Rapid Transit District, GO, Series A, 4.00%, 08/01/42		6,000		6,869,292
San Jose Unified School District GO, Series F, 4.00%, 08/01/42		1,000		1,165,088
Santa Clara County Financing Authority, RB, Series A, 4.00%, 05/01/45		15,000		17,066,610
West Contra Costa Unified School District, GO, Series A, 5.50%, 08/01/23(b)		2,500		2,728,338
West Valley-Mission Community College District, GO, Series A, 4.00%, 08/01/44		3,420		3,945,733
				73,060,114
Education — 6.0%
California Municipal Finance Authority, RB(c)
Series A, 5.00%, 10/01/39		150		167,420
Series A, 5.00%, 10/01/49		255		280,756
Series A, 5.00%, 10/01/57		505		553,692
California Municipal Finance Authority, Refunding RB 5.00%, 08/01/39		290		325,178

Security	Par (000)			Value
Education (continued)
California Municipal Finance Authority, Refunding RB (continued)
5.00%, 08/01/48	$	940		$	1,033,384
California Public Finance Authority, RB, Series A, 5.00%, 07/01/54(c)		195			202,747
California School Finance Authority, RB 6.65%, 07/01/33		595			643,075
6.90%, 07/01/43		1,330			1,433,439
Series A, 6.00%, 07/01/33		1,500			1,621,639
Series A, 5.00%, 06/01/39(c)		740			805,651
Series A, (ST INTERCEPT), 5.00%, 06/01/41(c)		440			491,200
Series A, 6.30%, 07/01/43		3,000			3,244,671
Series A, (ST INTERCEPT), 5.00%, 06/01/51(c)		600			657,841
Series A, 5.00%, 06/01/58(c)		1,465			1,593,048
Series A, 4.00%, 06/01/61(c)		450			462,673
California Statewide Communities Development Authority, RB, 5.00%, 06/01/51(c)		165			193,681
Hastings Campus Housing Finance Authority, RB
Series A, 5.00%, 07/01/45		410			487,507
Series A, 5.00%, 07/01/61		2,465			2,863,388
University of California, Refunding RB, Series BH, 4.00%, 05/15/46		3,000			3,529,584
					20,590,574
Health — 4.4%
California Health Facilities Financing Authority, RB, Series A, 5.25%, 11/01/41		8,700			8,700,000
California Health Facilities Financing Authority, Refunding RB
Series A, 4.00%, 04/01/49		3,000			3,361,080
Series B, 5.00%, 11/15/46		2,370			2,827,190
California Municipal Finance Authority, Refunding RB(c)
Series A, 5.00%, 11/01/39		135			152,918
Series A, 5.00%, 11/01/49		150			167,631
					15,208,819
Housing — 8.5%
California Community Housing Agency, RB, M/F Housing(c) 4.00%, 02/01/50		245			254,092
4.00%, 08/01/51		1,255			1,290,869
3.00%, 02/01/57		820			794,962
Series A, 5.00%, 04/01/49		1,890			2,121,087
Series A, 4.00%, 02/01/56		1,460			1,560,740
Series A-1, 4.00%, 08/01/50		260			268,775
Series A-1, 3.00%, 02/01/57		515			473,984
Series A-2, 4.00%, 08/01/47		1,410			1,447,670
California Housing Finance, RB, M/F Housing, Series A, 4.25%, 01/15/35		—	(d)		592
City & County of San Francisco California, RB, M/F Housing, Series J, (FNMA COLL), 2.55%, 07/01/39		5,000			5,149,620
CMFA Special Finance Agency VII, RB(c) 4.00%, 08/01/47		750			785,978
3.00%, 08/01/56		825			754,032
CSCDA Community Improvement Authority, RB, M/F Housing(c) 4.00%, 10/01/46		1,175			1,218,188
2.65%, 12/01/46		970			901,021
4.00%, 07/01/56		790			819,314
3.13%, 08/01/56		330			303,375
4.00%, 08/01/56		1,000			1,040,441
3.00%, 12/01/56		795			736,241
3.25%, 04/01/57		405			386,598
4.00%, 04/01/57		1,090			1,124,898

1

Schedule of Investments  (unaudited) (continued) October 31, 2021 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Housing (continued)
CSCDA Community Improvement Authority, RB, M/F Housing(c) (continued) 4.00%, 05/01/57(e)	$	1,260	$	1,284,387
Series A, 2.45%, 02/01/47		415		390,093
Series A, 5.00%, 07/01/51		700		794,178
Series A-2, 4.00%, 09/01/56		1,415		1,481,563
Series B, 4.00%, 02/01/57		455		473,258
Santa Clara County Housing Authority, RB, M/F Housing, Series A, AMT, 6.00%, 08/01/41		3,500		3,513,013
				29,368,969
State — 12.8%
State of California, Refunding GO 5.00%, 09/01/35		10,115		12,058,941
4.00%, 03/01/36		20,000		23,609,401
5.25%, 10/01/39		3,500		4,144,721
3.00%, 12/01/46		4,025		4,286,810
				44,099,873
Tobacco — 4.8%
California County Tobacco Securitization Agency, Refunding RB 4.00%, 06/01/49		165		187,327
5.00%, 06/01/50		250		291,408
Series A, 4.00%, 06/01/49		240		275,959
California County Tobacco Securitization Agency, Refunding RB, CAB(f) 0.00%, 06/01/55		1,660		415,828
Series B-2, Subordinate, 0.00%, 06/01/55		2,485		496,595
Golden State Tobacco Securitization Corp., Refunding RB
Series A-1, 5.00%, 06/01/47		325		332,915
Series A-2, 5.00%, 06/01/47		11,495		11,774,938
Tobacco Securitization Authority of Southern California, Refunding RB, 5.00%, 06/01/48		2,140		2,584,260
				16,359,230
Transportation — 18.8%
City of Long Beach California Harbor Revenue, ARB, Series A, AMT, 5.00%, 05/15/40		4,915		5,909,914
City of Los Angeles Department of Airports Refunding RB,
Series D, AMT, 4.00%, 05/15/51		9,000		10,308,753
City of Los Angeles Department of Airports, ARB
Series A, AMT, 5.25%, 05/15/38		1,735		2,129,286
Series B, AMT, 5.00%, 05/15/36		2,865		3,354,514
Series C, AMT, Subordinate, 5.00%, 05/15/44		5,955		7,080,167
City of Los Angeles Department of Airports, Refunding ARB, AMT, 5.00%, 05/15/43		2,175		2,641,757
County of Sacramento California Airport System Revenue, Refunding RB
Series A, 5.00%, 07/01/41		8,290		9,697,087
Series C, AMT, 5.00%, 07/01/37		3,000		3,642,603
Los Angeles County Metropolitan Transportation Authority, Refunding RB, Series A, 5.00%, 07/01/41		1,300		1,576,101
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB
Series A, AMT, 5.25%, 05/01/33		1,440		1,538,860
Series A, AMT, 5.00%, 05/01/42		5,050		5,974,488
Series A, AMT, 5.00%, 05/01/44		2,500		3,030,172
Series A, AMT, 5.00%, 05/01/49		4,050		4,881,303
Series D, AMT, 5.25%, 05/01/48		2,250		2,729,536
				64,494,541

Security	Par (000)		Value
Utilities — 5.9%
City of Richmond California Wastewater Revenue, Refunding RB, Series A, 5.00%, 08/01/42	$	5,185		6,267,514
Eastern Municipal Water District, Refunding RB, Series A, 5.00%, 07/01/42		3,000		3,556,203
Los Angeles Department of Water, RB, Series A, 5.00%, 07/01/42		3,440		4,118,833
Los Angeles Department of Water, Refunding RB, Series B, 5.00%, 07/01/43		5,175		6,377,618
				20,320,168
Total Municipal Bonds in California				286,506,527
Puerto Rico — 5.3%
State — 4.6%
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53		1,689		1,878,668
Series A-1, Restructured, 5.00%, 07/01/58		6,675		7,535,808
Series A-2, Restructured, 4.33%, 07/01/40		1,696		1,859,833
Series A-2, Restructured, 4.78%, 07/01/58		1,727		1,924,241
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(f)		8,295		2,701,698
				15,900,248
Tobacco — 0.0%
Children’s Trust Fund, Refunding RB, 5.50%, 05/15/39		95		97,333
Utilities — 0.7%
Puerto Rico Commonwealth Aqueduct & Sewer Authority, RB, Series A, Senior Lien, 5.00%, 07/01/33		2,185		2,254,466
Total Municipal Bonds in Puerto Rico				18,252,047
Total Municipal Bonds — 88.6% (Cost: $284,491,060)				304,758,574
Municipal Bonds Transferred to Tender Option Bond Trusts(g)
California — 71.3%
County/City/Special District/School District — 19.2%
Los Angeles County Public Works Financing Authority, Refunding RB
Series A, 5.00%, 12/01/39		17,850		20,162,325
Series A, 5.00%, 12/01/44		14,095		15,754,226
Palomar Community College District, GO, Series C, 5.00%, 08/01/25(b)		15,140		17,672,082
Santa Monica Community College District, GO, Series A, 5.00%, 08/01/43		10,000		12,326,540
				65,915,173
Education — 25.2%
California State University, Refunding RB
Series A, 5.00%, 11/01/41.		9,775		11,505,322
Series A, 5.00%, 11/01/42(h)		13,430		16,198,212
Series A, 5.00%, 11/01/43		5,001		5,781,027
University of California, Refunding RB 5.25%, 05/15/44(b)		11,950		13,314,003
Series AZ, 5.00%, 05/15/43(h)		12,000		14,692,380
Series I, 5.00%, 05/15/40		21,875		25,022,069
				86,513,013
Health — 3.8%
California Health Facilities Financing Authority, RB, Series A, 5.00%, 11/15/41(b)		11,000		12,962,344

S C H E D U L E  OF  I N V E S T M E N T  S 2

Schedule of Investments  (unaudited)(continued) October 31, 2021 BlackRock MuniYield California Fund, Inc. (MYC) (Percentages shown are based on Net Assets)

Security	Par (000)		Value
State — 7.3%
State of California, GO, 4.00%, 03/01/46(h)	$	10,000	$	11,563,130
State of California, Refunding GO, 5.00%, 08/01/37		10,975		13,555,025
				25,118,155
Transportation — 9.0%
City of Los Angeles Department of Airports, ARB, AMT, Series A, 5.00%, 05/15/45		10,045		11,328,350
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB, AMT, Series E, 5.00%, 05/01/45(h)		16,250		19,645,819
				30,974,169
Utilities — 6.8%
Sacramento Municipal Utility District, Refunding RB, Series H, 4.00%, 08/15/45		20,000		23,496,330
Total Municipal Bonds in California				244,979,184
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 71.3% (Cost: $228,217,552)				244,979,184
Total Investments — 159.9% (Cost: $512,708,612)				549,737,758
Other Assets Less Liabilities — 1.2%				4,550,690
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (30.4)%				(104,706,767	)
VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (30.7)%				(105,687,262	)
Net Assets Applicable to Common Shares — 100.0%				$343,894,419

^(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)  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)  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.

^(d)  Rounds to less than 1,000.

^(e)  When-issued security.

^(f)  Zero-coupon bond.

^(g)  Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing.

^(h)  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.

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

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 07/31/21		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 10/31/21		Shares Held at 10/31/21		Income		Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds California Money Fund, Institutional Class(a)	$	683,167	$	—	$	(683,168	)(b)	$	—	$	1	$	—		—	$	—	$	—

^(a)  As of period end, the entity is no longer held.

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

3

Schedule of Investments   (unaudited) (continued) October 31, 2021 BlackRock MuniYield California Fund, Inc. (MYC)

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.		181		12/21/21	$	23,649	$	315,309
U.S. Long Bond		109		12/21/21		17,529		36,927
5-Year U.S. Treasury Note		141		12/31/21		17,159		196,300
							$	548,536

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	$	—	$	304,758,574	$	—	$	304,758,574
Municipal Bonds Transferred to Tender Option Bond Trusts		—		244,979,184		—		244,979,184
	$	—	$	549,737,758	$	—	$	549,737,758
Derivative Financial Instruments(a)
Assets
Interest Rate Contracts	$	548,536	$	—	$	—	$	548,536

^(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	$	—	$	(104,690,676	)	$	—	$	(104,690,676	)
VRDP Shares at Liquidation Value		—		(105,900,000	)		—		(105,900,000	)
	$	—	$	(210,590,676	)	$	—	$	(210,590,676	)

S C H E D U L E  OF  I N V E S T M E N T  S 4

Schedule of Investments  (unaudited) (continued) October 31, 2021 BlackRock MuniYield California Fund, Inc. (MYC)

Portfolio Abbreviation
AMBAC	AMBAC Assurance Corp.
AMT	Alternative Minimum Tax
ARB	Airport Revenue Bonds
CAB	Capital Appreciation Bonds
COP	Certificates of Participation
FNMA	Federal National Mortgage Association
GO	General Obligation Bonds
M/F	Multi-Family
RB	Revenue Bond
S/F	Single-Family
SAB	Special Assessment Bonds
ST	Special Tax

5