Schedule of Investments (unaudited) April 30, 2021 | BlackRock MuniYield California Quality Fund, Inc. (MCA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Municipal Bonds | ||||||||
California — 84.0% | ||||||||
Corporate — 0.8% | ||||||||
California Pollution Control Financing Authority, RB, AMT, | $ | 4,000 | $ | 4,559,400 | ||||
|
| |||||||
County/City/Special District/School District — 31.3% | ||||||||
California Statewide Communities Development Authority, SAB | ||||||||
Series B, 4.00%, 09/02/40 | 520 | 568,927 | ||||||
Series B, 4.00%, 09/02/50 | 630 | 681,679 | ||||||
Series C, 4.00%, 09/02/40 | 1,855 | 2,036,975 | ||||||
Series C, 4.00%, 09/02/50 | 1,335 | 1,442,961 | ||||||
California Statewide Communities Development Authority, SAB, S/F Housing | 465 | 548,709 | ||||||
5.00%, 09/02/40 | 345 | 418,406 | ||||||
5.00%, 09/02/44 | 535 | 614,474 | ||||||
5.00%, 09/02/49 | 775 | 880,315 | ||||||
4.00%, 09/02/50 | 275 | 306,911 | ||||||
5.00%, 09/02/50 | 275 | 329,315 | ||||||
Series C, 5.00%, 09/02/39 | 435 | 513,309 | ||||||
Series C, 5.00%, 09/02/49 | 225 | 255,575 | ||||||
California Statewide Communities Development Authority, ST | 250 | 276,638 | ||||||
4.00%, 09/01/51 | 490 | 537,540 | ||||||
Chaffey Joint Union High School District, GO, CAB(a) | ||||||||
Series C, 0.00%, 08/01/32 | 250 | 186,688 | ||||||
Series C, 0.00%, 08/01/33 | 500 | 356,205 | ||||||
Series C, 0.00%, 08/01/34 | 505 | 343,506 | ||||||
Series C, 0.00%, 08/01/35 | 545 | 354,032 | ||||||
Series C, 0.00%, 08/01/36 | 500 | 309,970 | ||||||
Series C, 0.00%, 08/01/37 | 650 | 384,475 | ||||||
Series C, 0.00%, 08/01/38 | 630 | 355,786 | ||||||
Series C, 0.00%, 08/01/39 | 750 | 404,100 | ||||||
Series C, 0.00%, 08/01/40 | 1,850 | 951,418 | ||||||
Series C, 0.00%, 08/01/41 | 305 | 149,706 | ||||||
Series C, 0.00%, 02/01/42 | 350 | 167,661 | ||||||
ChiNo.Valley Unified School District, GO, Series B, | 640 | 756,333 | ||||||
City & County of San Francisco California, COP, Series C, AMT, | 1,050 | 1,141,728 | ||||||
City of Dixon California, ST, 4.00%, 09/01/45 | 465 | 508,301 | ||||||
City of Roseville California, ST, 4.00%, 09/01/50 | 395 | 429,681 | ||||||
City of Sacramento California Transient Occupancy Tax Revenue, RB, Series A, 5.00%, 06/01/48 | 3,750 | 4,334,362 | ||||||
El Dorado Irrigation District, Refunding RB, Series A, (AGM), | 5,000 | 5,713,700 | ||||||
El Monte City School District, GO, Series B, 5.50%, 08/01/46 | 4,265 | 5,223,772 | ||||||
Fowler Unified School District, GO, Series A, (BAM), | 3,700 | 4,539,789 | ||||||
Garden Grove Unified School District, GO, Series C, | 2,725 | 3,035,514 | ||||||
Gavilan Joint Community College District, GO(b) | ||||||||
Series D, 5.50%, 08/01/21 | 2,165 | 2,193,123 | ||||||
Series D, 5.75%, 08/01/21 | 8,400 | 8,514,240 | ||||||
Glendale Community College District, GO, CAB(a) | ||||||||
Series B, 0.00%, 08/01/43 | 1,875 | 1,021,706 | ||||||
Series B, 0.00%, 08/01/44 | 3,315 | 1,741,568 |
Security | Par (000) | Value | ||||||
County/City/Special District/School District (continued) | ||||||||
Glendale Community College District, GO, CAB(a) (continued) | ||||||||
Series B, 0.00%, 02/01/45 | $ | 3,475 | $ | 1,793,169 | ||||
Grossmont Healthcare District, GO, | 2,000 | 2,023,700 | ||||||
Hayward Unified School District, GO, Series A, (BAM), | 2,000 | 2,266,040 | ||||||
Kern Community College District, GO, Series C, | 5,715 | 6,431,261 | ||||||
Menifee Union School District, GO, Series B, (BAM), | 5,370 | 6,089,150 | ||||||
Mount San Antonio Community College District, Refunding GO, Series A, 5.00%, 08/01/23(b) | 4,500 | 4,987,575 | ||||||
Ohlone Community College District, GO, Series A, | 8,140 | 8,240,855 | ||||||
Orange County Community Facilities District, ST | 295 | 325,238 | ||||||
4.00%, 08/15/50 | 270 | 297,867 | ||||||
Perris Union High School District, GO, Series B, (BAM), | 2,715 | 3,238,316 | ||||||
Perris Union High School District, Refunding COP, (BAM), | 10,000 | 11,466,000 | ||||||
Riverside County Public Financing Authority, Refunding TA, Series A, (BAM), 4.00%, 10/01/40 | 5,455 | 6,251,266 | ||||||
Riverside County Redevelopment Successor Agency, Refunding TA, Series A, (AGM), 4.00%, 10/01/37 | 6,000 | 6,621,540 | ||||||
RNR School Financing Authority, ST | ||||||||
Series A, (BAM), 5.00%, 09/01/37 | 1,500 | 1,792,800 | ||||||
Series A, (BAM), 5.00%, 09/01/41 | 3,000 | 3,554,490 | ||||||
San Bernardino County Transportation Authority, RB, | 4,500 | 5,101,470 | ||||||
San Jose Financing Authority, RB | ||||||||
5.75%, 05/01/36 | 2,570 | 2,580,717 | ||||||
5.75%, 05/01/42 | 4,500 | 4,518,360 | ||||||
San Jose Financing Authority, Refunding RB, Series A, | 9,175 | 10,092,399 | ||||||
San Leandro Unified School District, GO, Series A, | 3,000 | 3,039,210 | ||||||
Santa Clara Unified School District, GO, 4.00%, 07/01/48 . | 5,000 | 5,670,700 | ||||||
Transbay Joint Powers Authority, TA | ||||||||
Series A, 5.00%, 10/01/49 | 2,500 | 3,070,650 | ||||||
Series B, Subordinate, 5.00%, 10/01/35 | 300 | 363,372 | ||||||
Series B, Subordinate, 5.00%, 10/01/38 | 600 | 721,020 | ||||||
Walnut Valley Unified School District, GO, Series B, | 7,680 | 7,784,448 | ||||||
Washington Township Health Care District, GO, Series B, | 1,625 | 1,843,741 | ||||||
West Contra Costa Unified School District, GO | ||||||||
Series A, (AGM), 5.25%, 08/01/21(b) | 6,140 | 6,216,075 | ||||||
Series A, 5.50%, 08/01/39 | 2,500 | 2,776,575 | ||||||
Series B, 5.50%, 08/01/39 | 3,000 | 3,331,890 | ||||||
|
| |||||||
175,018,992 | ||||||||
Education — 8.7% | ||||||||
California Educational Facilities Authority, RB, Series A, | 10,000 | 11,677,900 | ||||||
California Enterprise Development Authority, RB, | ||||||||
Series A, 5.00%, 08/01/55 | 1,000 | 1,162,700 | ||||||
California Municipal Finance Authority, RB | 2,750 | 2,856,150 | ||||||
Series A, 5.50%, 08/01/34(c) | 250 | 268,133 |
SCHEDULE OF INVESTMENTS | 1 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | BlackRock MuniYield California Quality Fund, Inc. (MCA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Education (continued) | ||||||||
California Municipal Finance Authority, RB (continued) | ||||||||
Series A, 5.00%, 10/01/39(c) | $ | 245 | $ | 276,764 | ||||
Series A, 5.00%, 10/01/49(c) | 410 | 454,998 | ||||||
Series A, 5.00%, 10/01/57(c) | 810 | 889,874 | ||||||
California Municipal Finance Authority, Refunding RB | 645 | 724,819 | ||||||
5.00%, 08/01/48 | 305 | 339,669 | ||||||
California School Finance Authority RB, 5.00%, 06/01/61(c) | 820 | 894,997 | ||||||
California School Finance Authority, RB(c) | ||||||||
5.00%, 06/01/40 | 305 | 342,112 | ||||||
5.00%, 06/01/50 | 475 | 524,053 | ||||||
5.00%, 06/01/59 | 760 | 830,976 | ||||||
Series A, 5.00%, 07/01/49 | 500 | 604,620 | ||||||
Series A, 5.00%, 06/01/58 | 3,615 | 3,909,790 | ||||||
Series A, 5.00%, 07/01/59 | 1,185 | 1,296,295 | ||||||
Series B, 4.00%, 07/01/45 | 475 | 475,561 | ||||||
California School Finance Authority, Refunding RB(c) | 1,250 | 1,420,525 | ||||||
Series A, 5.00%, 07/01/36 | 755 | 871,836 | ||||||
California Statewide Communities Development Authority, RB, Series A, 5.00%, 05/15/37 | 4,000 | 4,725,800 | ||||||
California Statewide Communities Development Authority, Refunding RB, 5.00%, 05/15/40 | 2,250 | 2,588,738 | ||||||
Grossmont Union High School District, GO, Series C, | 1,880 | 1,904,459 | ||||||
Hastings Campus Housing Finance Authority, RB | ||||||||
Series A, 5.00%, 07/01/45 | 675 | 775,082 | ||||||
Series A, 5.00%, 07/01/61 | 4,045 | 4,558,311 | ||||||
University of California, Refunding RB | 710 | 818,417 | ||||||
Series AM, 5.25%, 05/15/36 | 2,970 | 3,399,640 | ||||||
|
| |||||||
48,592,219 | ||||||||
Health — 7.5% | ||||||||
California Health Facilities Financing Authority, RB, | ||||||||
Series A, 5.25%, 11/01/41 | 10,000 | 10,240,700 | ||||||
California Health Facilities Financing Authority, Refunding RB | 700 | 863,366 | ||||||
Series A, 4.00%, 03/01/39 | 895 | 992,322 | ||||||
Series A, 4.00%, 03/01/43 | 1,315 | 1,381,907 | ||||||
Series A, 4.00%, 04/01/49 | 3,570 | 4,111,962 | ||||||
California Municipal Finance Authority, Refunding RB | ||||||||
Series A, 5.00%, 11/01/39(c) | 215 | 244,145 | ||||||
Series A, 5.00%, 02/01/42 | 4,000 | 4,721,760 | ||||||
Series A, 5.00%, 11/01/49(c) | 245 | 274,412 | ||||||
California Statewide Communities Development Authority, RB | ||||||||
4.25%, 01/01/43 | 3,450 | 3,854,892 | ||||||
4.00%, 08/01/45 | 2,500 | 2,619,600 | ||||||
4.00%, 07/01/48 | 1,780 | 1,967,932 | ||||||
California Statewide Communities Development Authority,Refunding RB | ||||||||
5.00%, 12/01/21(b) | 2,860 | 2,940,052 | ||||||
4.00%, 04/01/42 | 2,595 | 2,852,113 |
Security | Par (000) | Value | ||||||
Health (continued) | ||||||||
California Statewide Communities Development Authority, Refunding RB (continued) | ||||||||
4.00%, 04/01/47 | $ | 1,320 | $ | 1,434,695 | ||||
Series A, 4.00%, 12/01/57 | 3,250 | 3,410,940 | ||||||
|
| |||||||
41,910,798 | ||||||||
Housing — 6.0% | ||||||||
California Community Housing Agency, RB, M/F Housing(c) | ||||||||
Series A, 5.00%, 04/01/49 | 3,310 | 3,722,757 | ||||||
Series A, 4.00%, 02/01/56 | 3,985 | 4,236,758 | ||||||
Series A-2, 4.00%, 08/01/47 | 2,685 | 2,847,282 | ||||||
California Housing Finance, RB, M/F Housing | ||||||||
Series 2, Class A, 4.00%, 03/20/33. | 4,021 | 4,712,675 | ||||||
Series 2021-1, Class A, 3.50%, 11/20/35 | 984 | 1,143,937 | ||||||
Series A, 4.25%, 01/15/35 | 1,347 | 1,626,072 | ||||||
CSCDA Community Improvement Authority, RB, M/F Housing(c) | 1,640 | 1,758,802 | ||||||
Series A, 5.00%, 07/01/51 | 1,140 | 1,319,048 | ||||||
Series A-2, 4.00%, 09/01/56 | 2,330 | 2,492,448 | ||||||
Freddie Mac Multifamily ML Certificates, RB, M/F | ||||||||
Housing, Class A, 3.35%, 11/25/33 | 8,420 | 9,434,358 | ||||||
|
| |||||||
33,294,137 | ||||||||
State — 2.0% | ||||||||
California State Public Works Board RB, Series B, | 1,500 | 1,813,215 | ||||||
California State Public Works Board, RB, Series I, | 2,575 | 2,901,175 | ||||||
State of California, GO, 4.00%, 04/01/49 | 5,550 | 6,463,364 | ||||||
|
| |||||||
11,177,754 | ||||||||
Tobacco — 5.7% | ||||||||
California County Tobacco Securitization Agency, Refunding RB | 270 | 311,375 | ||||||
5.00%, 06/01/50 | 320 | 375,069 | ||||||
Series A, 4.00%, 06/01/49 | 1,400 | 1,619,488 | ||||||
Series B-1, Subordinate, 4.00%, 06/01/49 | 325 | 368,573 | ||||||
California County Tobacco Securitization Agency, Refunding RB, CAB(a) | ||||||||
0.00%, 06/01/55 | 2,730 | 664,455 | ||||||
Series B-2, Subordinate, 0.00%, 06/01/55 | 4,100 | 797,491 | ||||||
Golden State Tobacco Securitization Corp., Refunding RB | ||||||||
Series A-1, 5.00%, 06/01/33 | 2,175 | 2,657,241 | ||||||
Series A-1, 5.00%, 06/01/35 | 3,215 | 3,914,680 | ||||||
Series A-1, 5.00%, 06/01/47 | 11,750 | 12,145,975 | ||||||
Tobacco Securitization Authority of Northern California, Refunding RB, Series B-1, 4.00%, 06/01/49 | 310 | 353,719 | ||||||
Tobacco Securitization Authority of Southern California, Refunding RB, 5.00%, 06/01/48 | 5,075 | 6,266,950 | ||||||
Tobacco Securitization Authority of Southern California, Refunding RB, CAB, | 11,850 | 2,247,826 | ||||||
|
| |||||||
31,722,842 | ||||||||
Transportation — 19.1% | ||||||||
Alameda Corridor Transportation Authority, Refunding RB, Series B, Sub Lien, 5.00%, 10/01/35 | 1,500 | 1,764,225 |
2 |
|
Schedule of Investments (unaudited) (continued) April 30, 2021 | BlackRock MuniYield California Quality Fund, Inc. (MCA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Transportation (continued) | ||||||||
Bay Area Toll Authority, Refunding RB, Sub-Series S-8, Subordinate, 3.00%, 04/01/54. | $ | 13,180 | $ | 14,200,659 | ||||
California Municipal Finance Authority, ARB | ||||||||
AMT, Senior Lien, 5.00%, 12/31/43. | 6,500 | 7,759,050 | ||||||
AMT, Senior Lien, 4.00%, 12/31/47 | 7,500 | 8,268,600 | ||||||
AMT, Senior Lien, (AGM), 4.00%, 12/31/47 | 2,845 | 3,139,571 | ||||||
City of Los Angeles Department of Airports, ARB | ||||||||
Series D, AMT, 5.00%, 05/15/35 | 2,000 | 2,336,000 | ||||||
Series D, AMT, 5.00%, 05/15/36 | 1,500 | 1,750,755 | ||||||
Series C, AMT, Subordinate, 5.00%, 05/15/38 | 3,215 | 3,912,012 | ||||||
City of Los Angeles Department of Airports, Refunding ARB, Series A, AMT, 5.00%, 05/15/46 | 2,500 | 3,181,700 | ||||||
County of Sacramento California Airport System Revenue, Refunding RB | ||||||||
Series A, 5.00%, 07/01/41 | 2,500 | 2,979,600 | ||||||
Sub-Series B, 5.00%, 07/01/41 | 1,750 | 2,081,887 | ||||||
Norman Y Mineta San Jose International Airport SJC, Refunding RB | ||||||||
Series A, AMT, 5.00%, 03/01/41 | 3,075 | 3,668,260 | ||||||
Series A, AMT, 5.00%, 03/01/47 | 6,770 | 7,923,134 | ||||||
Port of Los Angeles, Refunding ARB, Series A, AMT, | 200 | 225,740 | ||||||
San Diego County Regional Airport Authority, ARB, Series B, AMT, 5.00%, 07/01/47. | 6,000 | 7,075,800 | ||||||
San Diego County Regional Airport Authority, Refunding RB | ||||||||
AMT, 5.00%, 07/01/37 | 350 | 441,291 | ||||||
AMT, 5.00%, 07/01/38 | 350 | 440,332 | ||||||
AMT, 5.00%, 07/01/39 | 500 | 627,020 | ||||||
AMT, 5.00%, 07/01/40 | 700 | 875,105 | ||||||
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB | ||||||||
Series A, AMT, 5.25%, 05/01/33 | 1,900 | 2,073,508 | ||||||
Series A, AMT, 5.00%, 05/01/40 | 3,785 | 4,241,357 | ||||||
Series A, AMT, 5.00%, 05/01/44 | 8,660 | 10,382,587 | ||||||
Series A, AMT, 5.00%, 05/01/49 | 3,500 | 4,254,145 | ||||||
Series D, AMT, 5.00%, 05/01/43 | 7,715 | 9,381,363 | ||||||
San Francisco Municipal Transportation Agency, RB, | ||||||||
Series C, 4.00%, 03/01/51 | 3,000 | 3,562,980 | ||||||
|
| |||||||
106,546,681 | ||||||||
Utilities — 2.9% | ||||||||
City of San Francisco California Public Utilities Commission Water Revenue, RB, Sub-Series A, 5.00%, 11/01/21(b) | 7,200 | 7,372,440 | ||||||
City of San Francisco California Public Utilities Commission Water Revenue, Refunding RB, 5.00%, 11/01/36 | 2,335 | 2,744,582 | ||||||
San Diego Public Facilities Financing Authority, Refunding RB, Series A, Subordinate, 5.25%, 08/01/47 | 5,000 | 6,308,100 | ||||||
|
| |||||||
16,425,122 | ||||||||
|
| |||||||
Total Municipal Bonds in California | 469,247,945 | |||||||
Puerto Rico — 4.6% | ||||||||
State — 4.6% | ||||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB | ||||||||
Series A-1, Restructured, 4.75%, 07/01/53 | 713 | 791,551 | ||||||
Series A-1, Restructured, 5.00%, 07/01/58 | 1,051 | 1,180,704 | ||||||
Series A-2, Restructured, 4.33%, 07/01/40 | 1,393 | 1,522,577 | ||||||
Series A-2, Restructured, 4.78%, 07/01/58 | 136 | 151,402 |
Security | Par (000) | Value | ||||||
State (continued) | ||||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB (continued) | ||||||||
Series B-1, Restructured, 4.75%, 07/01/53 | $ | 735 | $ | 813,902 | ||||
Series B-1, Restructured, 5.00%, 07/01/58 | 8,899 | 9,998,026 | ||||||
Series B-2, Restructured, 4.33%, 07/01/40 | 7,022 | 7,676,521 | ||||||
Series B-2, Restructured, 4.78%, 07/01/58 | 713 | 791,230 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(a) | 9,402 | 2,964,545 | ||||||
|
| |||||||
Total Municipal Bonds in Puerto Rico | 25,890,458 | |||||||
|
| |||||||
Total Municipal Bonds — 88.6% | 495,138,403 | |||||||
|
| |||||||
Municipal Bonds Transferred to Tender Option Bond Trusts(d) |
| |||||||
California — 74.5% | ||||||||
County/City/Special District/School District — 23.2% | ||||||||
California Municipal Finance Authority, RB, 5.00%, 06/01/48 | 9,500 | 11,630,280 | ||||||
Fremont Union High School District, Refunding GO, Series A, 4.00%, 08/01/46 | 4,996 | 5,707,925 | ||||||
Los Angeles County Facilities, Inc., RB, Series A, 5.00%, 12/01/51(e) | 11,420 | 13,923,720 | ||||||
Los Angeles Unified School District, GO, Series B-1, 5.25%, 07/01/42(e) | 7,075 | 8,808,233 | ||||||
Palomar Community College District, GO, Series C, 5.00%, 08/01/25(b) | 15,140 | 18,104,412 | ||||||
Riverside County Public Financing Authority, RB, 5.25%, 11/01/45 | 10,000 | 11,871,596 | ||||||
Sacramento Area Flood Control Agency, Refunding SAB, | ||||||||
Series A, 5.00%, 10/01/43 | 10,005 | 11,922,858 | ||||||
San Luis Obispo County Community College District, Refunding GO, Series A, 4.00%, 08/01/40 | 6,585 | 7,308,821 | ||||||
San Mateo County Community College District, GO, Series A, 5.00%, 09/01/25(b) | 17,615 | 21,123,195 | ||||||
West Valley-Mission Community College District, GO, Series B, 4.00%, 08/01/40 | 17,000 | 19,118,540 | ||||||
|
| |||||||
129,519,580 | ||||||||
Education — 9.1% | ||||||||
California State University, Refunding RB, Series A, 5.00%, 11/01/43. | 13,002 | 15,429,772 | ||||||
University of California, RB, Series AM, 5.25%, 05/15/44 | 9,210 | 10,499,030 | ||||||
University of California, Refunding RB, Series I, 5.00%, 05/15/40 | 21,105 | 24,726,196 | ||||||
|
| |||||||
50,654,998 | ||||||||
Health — 18.7% | ||||||||
California Health Facilities Financing Authority, RB 5.00%, 11/15/56. | 6,000 | 7,286,040 | ||||||
Series A, 5.00%, 08/15/23(b) | 10,000 | 11,101,600 | ||||||
Series A, 4.00%, 11/15/42 | 7,500 | 8,632,200 | ||||||
Series B, 5.00%, 08/15/55 | 4,500 | 5,346,720 | ||||||
California Health Facilities Financing Authority, Refunding RB | ||||||||
Series A, 5.00%, 08/15/25(b) | 24,940 | 29,862,158 | ||||||
Series A, 4.00%, 10/01/47 | 6,018 | 6,691,176 |
SCHEDULE OF INVESTMENTS | 3 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | BlackRock MuniYield California Quality Fund, Inc. (MCA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Health (continued) | ||||||||
California Health Facilities Financing Authority, Refunding RB (continued) | ||||||||
Sub-Series A-2, 4.00%, 11/01/44 | $ | 13,280 | $ | 15,072,269 | ||||
California Statewide Communities Development Authority, RB, Series A, 5.00%, 04/01/42 | 19,860 | 20,683,991 | ||||||
|
| |||||||
104,676,154 | ||||||||
State — 1.7% | ||||||||
State of California, GO, 4.00%, 03/01/50(e) | 5,000 | 5,961,801 | ||||||
State of California, Refunding GO, 5.25%, 10/01/39 | 3,000 | 3,629,880 | ||||||
|
| |||||||
9,591,681 | ||||||||
Transportation — 9.4% | ||||||||
Bay Area Toll Authority, Refunding RB(e) . | ||||||||
4.00%, 04/01/42 | 11,250 | 12,925,012 | ||||||
4.00%, 04/01/49 | 6,555 | 7,383,224 | ||||||
City of Los Angeles Department of Airports, ARB | ||||||||
Series A, AMT, 5.00%, 05/15/40 | 5,500 | 6,400,570 | ||||||
Series B, AMT, 5.00%, 05/15/41 | 3,645 | 4,284,247 | ||||||
Series B, AMT, 5.00%, 05/15/46 | 5,000 | 5,847,200 | ||||||
Series D, AMT, 5.00%, 05/15/41 | 13,311 | 15,479,636 | ||||||
|
| |||||||
52,319,889 | ||||||||
Utilities — 12.4% | ||||||||
Anaheim Public Financing Authority, Refunding RB | ||||||||
Series A, 5.00%, 05/01/39 | 6,000 | 6,543,900 | ||||||
Series A, 5.00%, 05/01/46 | 13,500 | 14,552,325 | ||||||
Beaumont Public Improvement Authority, RB, Series A, 5.00%, 09/01/49 | 6,000 | 7,080,780 | ||||||
City of Los Angeles California Wastewater System Revenue, RB, Series A, 5.00%, 06/01/44 | 6,290 | 7,340,178 | ||||||
City of Sacramento California Water Revenue, RB, 5.25%, 09/01/47 | 14,825 | 18,542,661 | ||||||
Los Angeles Department of Water, Refunding RB, Series A, 5.00%, 07/01/46 | 8,413 | 9,996,298 | ||||||
Mountain House Public Financing Authority, RB, Series A, 4.00%, 12/01/55 | 4,500 | 5,133,600 | ||||||
|
| |||||||
69,189,742 | ||||||||
|
| |||||||
Total Municipal Bonds in California | 415,952,044 | |||||||
|
| |||||||
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 74.5% |
| 415,952,044 | ||||||
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| |||||||
Total Long-Term Investments — 163.1% | 911,090,447 | |||||||
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Security | Shares | Value | ||||||
Short-Term Securities | ||||||||
Money Market Funds — 0.1% | ||||||||
BlackRock Liquidity Funds California Money Fund, | ||||||||
Institutional Class, 0.01%(f)(g) | 571,181 | $ 571,524 | ||||||
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| |||||||
Total Short-Term Securities — 0.1% | 571,524 | |||||||
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| |||||||
Total Investments — 163.2% | 911,661,971 | |||||||
Other Assets Less Liabilities — 1.8% | 9,686,285 | |||||||
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (35.2)% |
| (196,612,198 | ) | |||||
VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (29.8)% |
| (166,227,298 | ) | |||||
|
| |||||||
Net Assets Applicable to Common Shares — 100.0% | $ | 558,508,760 | ||||||
|
|
(a) | Zero-coupon bond. |
(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) | 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. |
(e) | 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 April 1, 2025 to March 1, 2028, is $29,423,078. |
(f) | Affiliate of the Fund. |
(g) | 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.
4 |
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Schedule of Investments (unaudited) (continued) April 30, 2021 | BlackRock MuniYield California Quality Fund, Inc. (MCA) |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at | Purchases | Proceeds | Net Realized | Change in Unrealized Appreciation | Value at | Shares Held at | Income | Capital Gain Distributions from Underlying | |||||||||||||||||||||||||||
BlackRock Liquidity Funds California Money Fund, Institutional Class | $ | 209,674 | $ | 354,930 | (a) | $ | — | $ | 6,920 | $ | — | $ | 571,524 | 571,181 | $ | 384 | $ | — | ||||||||||||||||||
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(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 | 214 | 06/21/21 | $ | 28,275 | $ | 398,608 | ||||||||||
U.S. Long Treasury Bond | 91 | 06/21/21 | 14,315 | 332,806 | ||||||||||||
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$ | 731,414 | |||||||||||||||
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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 | $ | — | $ | 495,138,403 | $ | — | $ | 495,138,403 | ||||||||
Municipal Bonds Transferred to Tender Option Bond Trusts. | — | 415,952,044 | — | 415,952,044 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 571,524 | — | — | 571,524 | ||||||||||||
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| |||||||||
$ | 571,524 | $ | 911,090,447 | $ | — | $ | 911,661,971 | |||||||||
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SCHEDULE OF INVESTMENTS | 5 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | BlackRock MuniYield California Quality Fund, Inc. (MCA) |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative Financial Instruments(a) | ||||||||||||||||
Assets | ||||||||||||||||
Interest Rate Contracts. | $ | 731,414 | $ | — | $ | — | $ | 731,414 | ||||||||
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(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 | $ | — | $ | (196,550,164 | ) | $ | — | $ | (196,550,164 | ) | ||||||
VRDP Shares at Liquidation Value | — | (166,500,000 | ) | — | (166,500,000 | ) | ||||||||||
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| |||||||||
$ | — | $ | (363,050,164 | ) | $ | — | $ | (363,050,164 | ) | |||||||
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Portfolio Abbreviation | ||
AGM | Assured Guaranty Municipal Corp. | |
AMT | Alternative Minimum Tax | |
ARB | Airport Revenue Bonds | |
BAM | Build America Mutual Assurance Co. | |
CAB | Capital Appreciation Bonds | |
COP | Certificates of Participation | |
GO | General Obligation Bonds | |
M/F | Multi-Family | |
RB | Revenue Bond | |
S/F | Single-Family | |
SAB | Special Assessment Bonds | |
ST | Special Tax | |
TA | Tax Allocation |
6 |
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