Schedule of Investments (unaudited) July 31, 2020 | BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Municipal Bonds | ||||||||
Alabama — 1.0% | ||||||||
County of Jefferson Alabama Sewer Revenue Refunding RB, Series D, Sub-Lien, 6.00%, 10/01/42 | $ | 3,745 | $ | 4,351,728 | ||||
Tuscaloosa County Industrial Development Authority Refunding RB(a) | ||||||||
Series A, 4.50%, 05/01/32 | 380 | 407,618 | ||||||
Series A, 5.25%, 05/01/44 | 485 | 540,794 | ||||||
|
| |||||||
5,300,140 | ||||||||
Alaska — 0.6% | ||||||||
Northern Tobacco Securitization Corp. Refunding RB | ||||||||
Series A, 4.63%, 06/01/23 | 130 | 130,183 | ||||||
Series A, 5.00%, 06/01/46 | 2,790 | 2,789,972 | ||||||
|
| |||||||
2,920,155 | ||||||||
Arizona — 2.9% | ||||||||
Arizona Industrial Development Authority RB(a) | ||||||||
7.10%, 01/01/55 | 1,790 | 1,756,223 | ||||||
Series A, 5.00%, 12/15/39 | 250 | 268,315 | ||||||
Series A, 5.50%, 07/01/52 | 1,775 | 1,909,882 | ||||||
Series B, 5.13%, 07/01/47 | 665 | 707,487 | ||||||
Arizona Industrial Development Authority Refunding RB(a) | ||||||||
Series A, 5.13%, 07/01/37 | 960 | 1,008,202 | ||||||
Series A, 5.25%, 07/01/47 | 1,765 | 1,838,212 | ||||||
Industrial Development Authority of the City of Phoenix RB(a) | ||||||||
Series A, 6.50%, 07/01/34 | 570 | 630,671 | ||||||
Series A, 6.75%, 07/01/44 | 1,000 | 1,097,840 | ||||||
Industrial Development Authority of the City of Phoenix Refunding RB(a) | ||||||||
5.00%, 07/01/35 | 625 | 657,732 | ||||||
5.00%, 07/01/45 | 1,425 | 1,465,332 | ||||||
Series A, 5.00%, 07/01/35 | 260 | 271,099 | ||||||
La Paz County Industrial Development Authority RB, 5.88%, 06/15/48(a) | 875 | 897,768 | ||||||
Salt Verde Financial Corp. RB, 5.00%, 12/01/37 | 1,650 | 2,295,925 | ||||||
|
| |||||||
14,804,688 | ||||||||
Arkansas — 0.6% | ||||||||
Arkansas Development Finance Authority RB, AMT, 4.50%, 09/01/49(a) | 2,815 | 2,848,414 | ||||||
|
| |||||||
California — 3.2% | ||||||||
California Municipal Finance Authority RB(a) | ||||||||
6.00%, 08/01/44 | 665 | 704,940 | ||||||
6.13%, 08/01/49 | 580 | 615,432 | ||||||
Series A, 5.50%, 08/01/34 | 315 | 333,957 | ||||||
California School Finance Authority RB | ||||||||
6.65%, 07/01/33 | 435 | 472,310 | ||||||
6.90%, 07/01/43 | 975 | 1,049,032 | ||||||
Series A, 6.40%, 07/01/48 | 1,570 | 1,749,561 | ||||||
California Statewide Communities Development Authority RB, 5.25%, 12/01/38(a) | 580 | 655,928 | ||||||
California Statewide Financing Authority RB, Series B, 6.00%, 05/01/43 | 1,650 | 1,650,742 | ||||||
City of San Jose California Hotel Tax Revenue RB | ||||||||
6.50%, 05/01/36 | 900 | 936,936 | ||||||
6.50%, 05/01/42 | 2,220 | 2,308,467 | ||||||
Golden State Tobacco Securitization Corp. Refunding RB Series A-1, 5.25%, 06/01/47 | 610 | 626,000 |
Security | Par (000) | Value | ||||||
California (continued) | ||||||||
Golden State Tobacco Securitization Corp. Refunding RB (continued) | ||||||||
Series A-2, 5.00%, 06/01/47 | $ | 790 | $ | 807,530 | ||||
Riverside County Transportation Commission RB, Series A, Senior Lien, 5.75%, 06/01/48 | 2,885 | 3,171,769 | ||||||
San Francisco City & County Redevelopment Agency Successor Agency TA, CAB(a)(b) | ||||||||
Series D, 0.00%, 08/01/26 | 1,250 | 952,575 | ||||||
Series D, 0.00%, 08/01/43 | 1,500 | 454,830 | ||||||
|
| |||||||
16,490,009 | ||||||||
Colorado — 2.2% | ||||||||
9th Avenue Metropolitan District No. 2 GO, 5.00%, 12/01/48 | 910 | 930,957 | ||||||
Arista Metropolitan District Refunding GO, Series A, 5.00%, 12/01/38 | 1,240 | 1,261,824 | ||||||
Centerra Metropolitan District No 1 TA, 5.00%, 12/01/47(a) | 575 | 581,975 | ||||||
Copperleaf Metropolitan District No. 2 GO, 5.00%, 12/15/49 | 510 | 513,335 | ||||||
Copperleaf Metropolitan District No. 2 Refunding GO, 5.75%, 12/01/45 | 720 | 740,830 | ||||||
Green Valley Ranch East Metropolitan District No. 6 GO, Series A, 5.88%, 12/01/50 | 935 | 938,422 | ||||||
Jefferson Center Metropolitan District No. 1 Refunding RB, Series B, 5.75%, 12/15/50(c) | 1,580 | 1,549,332 | ||||||
Karl’s Farm Metropolitan District No. 2 GO, | 545 | 552,292 | ||||||
North Holly Metropolitan District GO, Series A, 5.50%, 12/01/48 | 500 | 501,870 | ||||||
Palisade Metropolitan District No. 2 GO, 7.25%, 12/15/49 | 1,211 | 1,068,938 | ||||||
Prairie Farm Metropolitan District GO, Series A, 5.25%, 12/01/48 | 760 | 799,041 | ||||||
Regional Transportation District RB, 6.00%, 01/15/34 | 1,500 | 1,502,790 | ||||||
Southlands Metropolitan District No. 1 Refunding GO, Series A-1, 5.00%, 12/01/47 | 410 | 432,534 | ||||||
|
| |||||||
11,374,140 | ||||||||
Connecticut(a) — 1.0% | ||||||||
Connecticut State Health & Educational Facilities Authority RB | ||||||||
Series A, 5.00%, 01/01/45 | 325 | 340,717 | ||||||
Series A, 5.00%, 01/01/55 | 435 | 453,152 | ||||||
Mohegan Tribal Finance Authority RB, 7.00%, 02/01/45 | 1,395 | 1,341,544 | ||||||
Mohegan Tribe of Indians of Connecticut RB, Series A, 6.75%, 02/01/45 | 967 | 983,545 | ||||||
Mohegan Tribe of Indians of Connecticut Refunding RB, Series C, 6.25%, 02/01/30 | 1,835 | 1,966,680 | ||||||
|
| |||||||
5,085,638 | ||||||||
Delaware — 1.1% | ||||||||
County of Sussex Delaware RB, 6.00%, 10/01/40 | 1,000 | 1,015,000 | ||||||
Delaware State Economic Development Authority RB, 5.38%, 10/01/45 | 4,495 | 4,518,644 | ||||||
|
| |||||||
5,533,644 | ||||||||
District of Columbia — 0.6% | ||||||||
District of Columbia Tobacco Settlement Financing Corp. RB, CAB, Series A, 0.00%, 06/15/46(b) | 15,400 | 3,134,978 | ||||||
|
|
1 |
Schedule of Investments (unaudited) (continued) July 31, 2020 | BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Florida — 9.2% | ||||||||
Boggy Creek Improvement District Refunding SAB, 5.13%, 05/01/43 | $ | 1,380 | $ | 1,411,243 | ||||
Capital Region Community Development District Refunding SAB, Series A-1, 5.13%, 05/01/39 | 1,495 | 1,628,788 | ||||||
Capital Trust Agency, Inc. RB | ||||||||
Series A, 8.25%, 01/01/44(d)(e) | 515 | 288,400 | ||||||
Series A, 8.25%, 01/01/49(d)(e) | 1,105 | 618,800 | ||||||
Series A, 5.75%, 01/01/50(d)(e) | 655 | 655,000 | ||||||
Series A, 5.75%, 06/01/54(a) | 940 | 958,095 | ||||||
Charlotte County Industrial Development Authority/FL RB(a) | ||||||||
AMT, 5.00%, 10/01/34 | 245 | 263,076 | ||||||
AMT, 5.00%, 10/01/49 | 1,170 | 1,189,071 | ||||||
Collier County Industrial Development Authority Refunding RB, Series A, | 630 | 453,747 | ||||||
County of Osceola Florida Transportation Revenue Refunding RB, CAB(b) | ||||||||
Series A-2, 0.00%, 10/01/50 | 730 | 257,274 | ||||||
Series A-2, 0.00%, 10/01/51 | 875 | 296,170 | ||||||
Series A-2, 0.00%, 10/01/52 | 875 | 284,865 | ||||||
Series A-2, 0.00%, 10/01/53 | 2,325 | 727,865 | ||||||
Series A-2, 0.00%, 10/01/54 | 875 | 263,401 | ||||||
Florida Development Finance Corp. RB | ||||||||
Series A, 5.75%, 06/15/29 | 690 | 754,991 | ||||||
Series A, 6.00%, 06/15/34 | 835 | 909,824 | ||||||
Series A, 6.13%, 06/15/44 | 3,180 | 3,424,288 | ||||||
AMT, 5.00%, 08/01/29(a)(f) | 1,550 | 1,575,637 | ||||||
Greeneway Improvement District SAB, 5.13%, 05/01/43 | 1,715 | 1,766,107 | ||||||
Lakewood Ranch Stewardship District Refunding SAB, 8.00%, 05/01/40 | 1,485 | 1,540,702 | ||||||
Lakewood Ranch Stewardship District SAB | ||||||||
4.00%, 05/01/21 | 54 | 54,233 | ||||||
4.25%, 05/01/26 | 135 | 140,948 | ||||||
4.75%, 05/01/29 | 565 | 619,127 | ||||||
4.95%, 05/01/29(a) | 395 | 437,652 | ||||||
5.30%, 05/01/39 | 645 | 718,988 | ||||||
5.50%, 05/01/39(a) | 400 | 451,800 | ||||||
5.13%, 05/01/46 | 820 | 866,494 | ||||||
5.45%, 05/01/48 | 1,150 | 1,287,195 | ||||||
5.65%, 05/01/48(a) | 665 | 754,137 | ||||||
Miami-Dade County Industrial Development Authority RB, 5.00%, 01/15/48 | 915 | 1,030,061 | ||||||
Mid-Bay Bridge Authority RB, Series A, 7.25%, 10/01/21(g) | 4,550 | 4,922,963 | ||||||
Midtown Miami Community Development District Refunding SAB | ||||||||
Series A, 5.00%, 05/01/37 | 845 | 873,206 | ||||||
Series B, 5.00%, 05/01/37 | 495 | 511,523 | ||||||
Palm Beach County Health Facilities Authority Refunding RB, Series A, 7.25%, 06/01/34 | 500 | 531,045 | ||||||
Santa Rosa Bay Bridge Authority RB, 6.25%, 07/01/28(d)(e) | 3,475 | 2,747,210 | ||||||
Seminole County Industrial Development Authority Refunding RB | ||||||||
5.50%, 11/15/49 | 1,235 | 1,099,829 | ||||||
5.75%, 11/15/54 | 985 | 895,266 | ||||||
Tolomato Community Development District Refunding SAB, Series 2, 6.61%, 05/01/40 | 805 | 528,491 |
Security | Par (000) | Value | ||||||
Florida (continued) | ||||||||
Tolomato Community Development District Refunding SAB, CAB, Series A-4, Convertible, 6.61%, 05/01/40 | $ | 305 | $ | 273,881 | ||||
Tolomato Community Development District | ||||||||
Series 1, 6.61%, 05/01/40 | 1,305 | 1,101,081 | ||||||
Series 3, 6.61%, 05/01/40 | 875 | 9 | ||||||
Series 3, 6.65%, 05/01/40 | 710 | 7 | ||||||
Trout Creek Community Development District SAB | ||||||||
5.38%, 05/01/38 | 430 | 474,148 | ||||||
5.50%, 05/01/49 | 1,105 | 1,214,461 | ||||||
Village Community Development District No. 9 Refunding SAB, 5.50%, 05/01/42 | 1,115 | 1,145,406 | ||||||
Village Community Development District No. 9 SAB | ||||||||
6.75%, 05/01/31 | 1,395 | 1,428,745 | ||||||
7.00%, 05/01/41 | 2,290 | 2,342,189 | ||||||
West Villages Improvement District SAB | ||||||||
4.75%, 05/01/39 | 455 | 488,925 | ||||||
5.00%, 05/01/50 | 940 | 1,017,522 | ||||||
|
| |||||||
47,223,886 | ||||||||
Georgia — 1.5% | ||||||||
Clayton County Development Authority Refunding RB, Series A, 8.75%, 06/01/29 | 3,141 | 3,159,852 | ||||||
Main Street Natural Gas, Inc. RB | ||||||||
Series A, 5.00%, 05/15/35 | 560 | 750,809 | ||||||
Series A, 5.00%, 05/15/36 | 560 | 756,745 | ||||||
Series A, 5.00%, 05/15/37 | 615 | 838,522 | ||||||
Series A, 5.00%, 05/15/38 | 340 | 468,788 | ||||||
Series A, 5.00%, 05/15/49 | 1,130 | 1,677,259 | ||||||
|
| |||||||
7,651,975 | ||||||||
Idaho — 0.1% | ||||||||
Idaho Housing & Finance Association RB, | 580 | 600,909 | ||||||
|
| |||||||
Illinois — 6.5% | ||||||||
Chicago Board of Education GO | ||||||||
Series A, 5.00%, 12/01/42 | 1,020 | 1,040,216 | ||||||
Series C, 5.25%, 12/01/35 | 1,655 | 1,759,944 | ||||||
Series D, 5.00%, 12/01/46 | 2,155 | 2,250,301 | ||||||
Series H, 5.00%, 12/01/46 | 720 | 768,024 | ||||||
Chicago Board of Education Refunding GO | ||||||||
Series B, 4.00%, 12/01/35 | 745 | 750,722 | ||||||
Series C, 5.00%, 12/01/25 | 725 | 801,190 | ||||||
Series D, 5.00%, 12/01/31 | 1,000 | 1,107,660 | ||||||
Series G, 5.00%, 12/01/44 | 2,150 | 2,299,683 | ||||||
City of Chicago Illinois Refunding GO, Series A, 6.00%, 01/01/38 | 1,260 | 1,458,778 | ||||||
Illinois Finance Authority Refunding RB | ||||||||
6.60%, 07/01/24 | 560 | 562,492 | ||||||
6.00%, 02/01/34 | 365 | 385,195 | ||||||
4.75%, 10/15/40(a)(c)(f) | 3,520 | 3,588,077 | ||||||
6.13%, 02/01/45 | 860 | 895,802 | ||||||
Metropolitan Pier & Exposition Authority RB | ||||||||
Series A, 5.50%, 06/15/53 | 2,370 | 2,559,955 | ||||||
Series A, 5.00%, 06/15/57 | 1,020 | 1,092,206 | ||||||
Metropolitan Pier & Exposition Authority RB, | ||||||||
Series A, 0.00%, 12/15/52 | 1,880 | 456,332 | ||||||
Series A, 0.00%, 12/15/56 | 5,005 | 1,021,120 | ||||||
Metropolitan Pier & Exposition Authority Refunding RB, 4.00%, 06/15/50 | 1,570 | 1,569,341 |
2 |
Schedule of Investments (unaudited) (continued) July 31, 2020 | BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Illinois (continued) | ||||||||
Metropolitan Pier & Exposition Authority Refunding RB, CAB, Series B, 0.00%, 12/15/54(b) | $ | 19,665 | $ | 4,382,935 | ||||
State of Illinois GO | ||||||||
5.50%, 05/01/30 | 530 | 655,578 | ||||||
5.50%, 05/01/39 | 1,055 | 1,255,978 | ||||||
Series A, 5.00%, 01/01/33 | 740 | 765,574 | ||||||
Village of Lincolnshire Illinois ST, 6.25%, 03/01/34 | 1,517 | 1,517,865 | ||||||
|
| |||||||
32,944,968 | ||||||||
Indiana — 2.2% | ||||||||
City of Anderson Indiana RB, 5.38%, 01/01/40 | 580 | 584,106 | ||||||
City of Valparaiso Indiana RB | ||||||||
AMT, 6.75%, 01/01/34 | 825 | 901,733 | ||||||
AMT, 7.00%, 01/01/44 | 2,000 | 2,224,320 | ||||||
City of Vincennes Indiana Refunding RB, 6.25%, 01/01/29(a) | 2,035 | 2,048,797 | ||||||
County of Allen Indiana RB(a) | ||||||||
Series A-1, 6.63%, 01/15/34 | 290 | 243,009 | ||||||
Series A-1, 6.75%, 01/15/43 | 525 | 424,321 | ||||||
Series A-1, 6.88%, 01/15/52 | 2,450 | 1,946,427 | ||||||
Indiana Finance Authority RB | ||||||||
Series A, AMT, 5.00%, 07/01/44 | 470 | 500,907 | ||||||
Series A, AMT, 5.00%, 07/01/48 | 1,555 | 1,657,086 | ||||||
Town of Chesterton Indiana RB, Series A, 6.38%, 01/15/51(a)(d)(e) | 1,190 | 885,765 | ||||||
|
| |||||||
11,416,471 | ||||||||
Iowa — 1.6% | ||||||||
Iowa Finance Authority Refunding RB | ||||||||
5.25%, 12/01/25 | 150 | 157,713 | ||||||
Series B, 5.25%, 12/01/50(f) | 2,085 | 2,205,638 | ||||||
Iowa Tobacco Settlement Authority Refunding RB, Series C, 5.38%, 06/01/38 | 4,900 | 4,900,147 | ||||||
Iowa Tobacco Settlement Authority Refunding RB, CAB, Series B, 5.60%, 06/01/34 | 795 | 795,080 | ||||||
|
| |||||||
8,058,578 | ||||||||
Kentucky — 0.8% | ||||||||
Kentucky Public Transportation Infrastructure Authority RB, Series A, 5.75%, 07/01/49 | 4,000 | 4,269,240 | ||||||
|
| |||||||
Louisiana — 2.5% | ||||||||
Juban Crossing Economic Development District Refunding RB, Series C, 7.00%, 09/15/44(a) | 2,415 | 2,190,405 | ||||||
Louisiana Local Government Environmental Facilities & Community Development Authority RB, 5.00%, 07/01/54(a) | 930 | 940,611 | ||||||
Louisiana Public Facilities Authority RB, 6.75%, 05/01/21(g) | 1,745 | 1,830,086 | ||||||
Parish of St James Louisiana RB, Series 2, 6.35%, 07/01/40(a) | 1,580 | 1,891,228 | ||||||
Tobacco Settlement Financing Corp. Refunding RB, Series A, 5.25%, 05/15/35 | 5,570 | 5,990,814 | ||||||
|
| |||||||
12,843,144 | ||||||||
Maine — 0.6% | ||||||||
Maine Health & Higher Educational Facilities Authority RB, 6.75%, 07/01/41 | 2,955 | 3,031,180 | ||||||
|
|
Security | Par (000) | Value | ||||||
Maryland — 1.7% | ||||||||
County of Frederick Maryland TA, Series A, 7.13%, 07/01/43(a) | $ | 2,810 | $ | 2,563,001 | ||||
Maryland Economic Development Corp. Refunding RB, 5.75%, 09/01/25 | 2,590 | 2,594,636 | ||||||
Maryland Health & Higher Educational Facilities Authority RB, Series A, 7.00%, 03/01/55(a) | 3,010 | 3,291,164 | ||||||
|
| |||||||
8,448,801 | ||||||||
Michigan — 1.3% | ||||||||
Advanced Technology Academy Refunding RB, 5.00%, 11/01/44 | 415 | 426,624 | ||||||
City of Detroit Michigan GO | ||||||||
5.00%, 04/01/34 | 285 | 299,090 | ||||||
5.00%, 04/01/35 | 285 | 298,164 | ||||||
5.00%, 04/01/36 | 200 | 208,520 | ||||||
5.00%, 04/01/37 | 320 | 332,611 | ||||||
5.00%, 04/01/38 | 145 | 150,297 | ||||||
City of Detroit Michigan Sewage Disposal System Revenue Refunding RB, Series A, Senior Lien, 5.25%, 07/01/22(g) | 2,785 | 3,057,290 | ||||||
Michigan Finance Authority RB, Series C-2, Senior Lien, AMT, 5.00%, 07/01/22(g) | 415 | 452,935 | ||||||
Michigan Strategic Fund RB, AMT, 5.00%, 06/30/48 | 1,200 | 1,341,960 | ||||||
|
| |||||||
6,567,491 | ||||||||
Minnesota — 0.4% | ||||||||
City of Minneapolis Minnesota RB, Series A, 5.75%, 07/01/55 | 1,480 | 1,581,853 | ||||||
Housing & Redevelopment Authority of The City of St. Paul Minnesota Refunding RB | ||||||||
Series A, 5.75%, 09/01/46 | 195 | 209,350 | ||||||
Series A, 6.00%, 09/01/51 | 290 | 312,545 | ||||||
|
| |||||||
2,103,748 | ||||||||
Missouri — 0.2% | ||||||||
Industrial Development Authority of the City of St. Louis Missouri Refunding RB | ||||||||
Series A, 4.38%, 11/15/35 | 685 | 591,737 | ||||||
Series A, 4.75%, 11/15/47 | 760 | 659,194 | ||||||
|
| |||||||
1,250,931 | ||||||||
New Hampshire(a) — 0.3% | ||||||||
New Hampshire Business Finance Authority Refunding RB | ||||||||
Series B, 4.63%, 11/01/42 | 1,015 | 1,025,678 | ||||||
Series C, AMT, 4.88%, 11/01/42 | 485 | 490,151 | ||||||
|
| |||||||
1,515,829 | ||||||||
New Jersey — 4.9% | ||||||||
Casino Reinvestment Development Authority, Inc. Refunding RB | ||||||||
5.25%, 11/01/39 | 1,065 | 1,102,222 | ||||||
5.25%, 11/01/44 | 770 | 791,760 | ||||||
Essex County Improvement Authority RB, AMT, 5.25%, 07/01/45(a) | 1,150 | 1,151,023 | ||||||
New Jersey Economic Development Authority RB | ||||||||
6.00%, 10/01/43 | 1,530 | 1,667,578 | ||||||
Series A, 5.00%, 07/01/32 | 165 | 165,323 | ||||||
Series A, 5.00%, 07/01/37 | 260 | 254,428 | ||||||
Series A, 5.25%, 11/01/54(a) | 1,675 | 1,669,707 | ||||||
Series B, 5.00%, 06/15/43 | 2,245 | 2,577,305 |
3 |
Schedule of Investments (unaudited) (continued) July 31, 2020 | BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
New Jersey (continued) | ||||||||
New Jersey Economic Development Authority RB (continued) | ||||||||
AMT, 5.38%, 01/01/43 | $ | 2,155 | $ | 2,374,422 | ||||
Series B, AMT, 6.50%, 04/01/31 | 2,065 | 2,208,827 | ||||||
New Jersey Economic Development Authority Refunding RB, Series A, 6.00%, 08/01/49(a) | 500 | 521,780 | ||||||
New Jersey Transportation Trust Fund Authority RB | ||||||||
Series AA, 5.25%, 06/15/41 | 1,140 | 1,269,390 | ||||||
Series S, 5.25%, 06/15/43 | 2,345 | 2,756,712 | ||||||
Tobacco Settlement Financing Corp. Refunding RB, Sub-Series B, 5.00%, 06/01/46 | 5,970 | 6,716,310 | ||||||
|
| |||||||
25,226,787 | ||||||||
New Mexico — 0.6% | ||||||||
New Mexico Hospital Equipment Loan Council Refunding RB, 5.50%, 07/01/42 | 2,970 | 3,146,477 | ||||||
|
| |||||||
New York — 6.5% | ||||||||
Erie Tobacco Asset Securitization Corp. Refunding RB, Series A, 5.00%, 06/01/45 | 2,890 | 2,889,509 | ||||||
Metropolitan Transportation Authority Refunding RB | ||||||||
Series C-1, 4.75%, 11/15/45 | 1,740 | 1,944,502 | ||||||
Series C-1, 5.00%, 11/15/50 | 565 | 647,931 | ||||||
Series C-1, 5.25%, 11/15/55 | 840 | 961,010 | ||||||
New York Counties Tobacco Trust IV Refunding RB | ||||||||
Series A, 6.25%, 06/01/41(a) | 5,200 | 5,202,600 | ||||||
Series A, 5.00%, 06/01/42 | 3,155 | 3,155,095 | ||||||
Series A, 5.00%, 06/01/45 | 1,185 | 1,185,000 | ||||||
New York Counties Tobacco Trust VI Refunding RB | ||||||||
Series A-2, 5.00%, 06/01/45 | 2,655 | 2,709,082 | ||||||
Series A-2, 5.00%, 06/01/51 | 1,900 | 1,936,138 | ||||||
New York Liberty Development Corp. Refunding RB(a) | ||||||||
Class 1, 5.00%, 11/15/44 | 6,205 | 6,595,108 | ||||||
Class 2, 5.15%, 11/15/34 | 455 | 482,396 | ||||||
Class 2, 5.38%, 11/15/40 | 1,080 | 1,153,224 | ||||||
New York Transportation Development Corp. Refunding ARB, AMT, 5.38%, 08/01/36 | 1,490 | 1,543,416 | ||||||
Port Authority of New York & New Jersey RB, Series 8, 6.00%, 12/01/36 | 1,340 | 1,359,939 | ||||||
Westchester County Healthcare Corp. RB, Series A, Senior Lien, 5.00%, 11/01/44 | 1,261 | 1,380,821 | ||||||
|
| |||||||
33,145,771 | ||||||||
North Carolina — 0.5% | ||||||||
North Carolina Medical Care Commission Refunding RB, Series A, 7.75%, 03/01/21(g) | 2,420 | 2,526,625 | ||||||
|
| |||||||
Ohio — 2.4% | ||||||||
Buckeye Tobacco Settlement Financing Authority Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55 | 9,485 | 10,455,596 | ||||||
County of Hamilton Ohio Refunding RB, 5.00%, 01/01/46 | 875 | 891,319 | ||||||
Ohio Air Quality Development Authority RB, AMT, 5.00%, 07/01/49(a) | 840 | 855,111 | ||||||
|
| |||||||
12,202,026 | ||||||||
Oklahoma — 1.5% | ||||||||
Oklahoma Development Finance Authority RB Series B, 5.00%, 08/15/38 | 2,990 | 3,506,373 |
Security | Par (000) | Value | ||||||
Oklahoma (continued) | ||||||||
Oklahoma Development Finance Authority RB (continued) | ||||||||
Series B, 5.25%, 08/15/43 | $ | 2,690 | $ | 3,174,711 | ||||
Tulsa County Industrial Authority Refunding RB, 5.25%, 11/15/37 | 750 | 791,265 | ||||||
|
| |||||||
7,472,349 | ||||||||
Oregon — 0.5% | ||||||||
Hospital Facilities Authority of Multnomah County Oregon Refunding RB, Series A, 5.50%, 10/01/49 | 1,765 | 1,796,329 | ||||||
Oregon State Facilities Authority RB(a) | ||||||||
Series A, 5.00%, 06/15/29 | 120 | 124,495 | ||||||
Series A, 5.00%, 06/15/39 | 565 | 553,440 | ||||||
|
| |||||||
2,474,264 | ||||||||
Pennsylvania — 1.6% | ||||||||
Allentown Neighborhood Improvement Zone Development Authority Refunding RB, Series A, 5.00%, 05/01/42 | 2,140 | 2,222,904 | ||||||
Montgomery County IDA Refunding RB, 5.38%, 01/01/50 | 1,135 | 1,110,041 | ||||||
Northampton County Industrial Development Authority TA, 7.00%, 07/01/32 | 1,765 | 1,894,569 | ||||||
Pennsylvania Economic Development Financing Authority Refunding RB, AMT, 5.50%, 11/01/44 | 2,710 | 2,781,706 | ||||||
|
| |||||||
8,009,220 | ||||||||
Puerto Rico — 11.2% | ||||||||
Children’s Trust Fund RB(b) | ||||||||
Series A, 0.00%, 05/15/57 | 23,995 | 1,530,401 | ||||||
Series B, 0.00%, 05/15/57 | 65,085 | 2,440,687 | ||||||
Children’s Trust Fund Refunding RB, 5.63%, 05/15/43 | 850 | 850,170 | ||||||
Commonwealth of Puerto Rico GO(d)(e) | ||||||||
Series A, 5.25%, 07/01/22 | 145 | 99,982 | ||||||
Series A, 5.25%, 07/01/26 | 50 | 34,476 | ||||||
Series A, 5.13%, 07/01/31 | 515 | 355,107 | ||||||
Series A, 5.38%, 07/01/33 | 500 | 344,765 | ||||||
Series A, 6.00%, 07/01/38 | 750 | 523,357 | ||||||
Commonwealth of Puerto Rico Refunding GO(d)(e) | ||||||||
5.00%, 07/01/18 | 90 | 61,598 | ||||||
Series A, 8.00%, 07/01/35 | 3,355 | 1,946,138 | ||||||
Series A, 5.50%, 07/01/39 | 1,265 | 786,559 | ||||||
Series A, 6.50%, 07/01/40 | 1,110 | 774,568 | ||||||
Series A, 5.00%, 07/01/41 | 2,230 | 1,301,763 | ||||||
Series A, 5.75%, 07/01/41 | 165 | 101,836 | ||||||
Series B, 6.00%, 07/01/39 | 110 | 76,759 | ||||||
Puerto Rico Commonwealth Aqueduct & Sewer Authority RB | ||||||||
Series A, Senior Lien, 5.00%, 07/01/33 | 170 | 174,517 | ||||||
Series A, Senior Lien, 5.13%, 07/01/37 | 200 | 205,750 | ||||||
Series A, Senior Lien, 5.75%, 07/01/37 | 1,290 | 1,342,387 | ||||||
Puerto Rico Commonwealth Aqueduct & Sewer Authority Refunding RB, Series A, Senior Lien, 6.00%, 07/01/38 | 4,290 | 4,328,052 | ||||||
Puerto Rico Electric Power Authority RB(d)(e) | ||||||||
Series 3, 0.00%, 01/01/21 | 90 | 61,597 | ||||||
Series A, 5.00%, 07/01/29 | 660 | 453,118 | ||||||
Series A, 7.00%, 07/01/33 | 3,295 | 2,361,632 | ||||||
Series A, 6.75%, 07/01/36 | 1,140 | 817,074 | ||||||
Series A, 5.00%, 07/01/42 | 1,315 | 902,804 | ||||||
Series A, 7.00%, 07/01/43 | 375 | 268,775 |
4 |
Schedule of Investments (unaudited) (continued) July 31, 2020 | BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Puerto Rico (continued) | ||||||||
Puerto Rico Electric Power Authority RB(d)(e) (continued) | ||||||||
Series A-3, 10.00%, 07/01/19 | $ | 323 | $ | 274,978 | ||||
Series B-3, 10.00%, 07/01/19 | 323 | 274,978 | ||||||
Series C-1, 5.40%, 01/01/18 | 887 | 609,275 | ||||||
Series C-2, 5.40%, 07/01/18 | 887 | 609,374 | ||||||
Series C-4, 5.40%, 07/01/20 | 90 | 61,597 | ||||||
Series CCC, 5.25%, 07/01/26 | 260 | 178,501 | ||||||
Series CCC, 5.25%, 07/01/28 | 145 | 99,549 | ||||||
Series TT, 5.00%, 07/01/25 | 100 | 68,654 | ||||||
Series TT, 5.00%, 07/01/26 | 225 | 154,472 | ||||||
Series TT, 5.00%, 07/01/32 | 190 | 130,443 | ||||||
Series WW, 5.50%, 07/01/19 | 200 | 137,309 | ||||||
Series WW, 5.25%, 07/01/33 | 120 | 82,385 | ||||||
Series WW, 5.50%, 07/01/38 | 205 | 140,741 | ||||||
Series WW, 5.50%, 07/01/49 | 1,320 | 906,237 | ||||||
Series XX, 5.25%, 07/01/27 | 110 | 75,520 | ||||||
Series XX, 5.25%, 07/01/35 | 60 | 41,193 | ||||||
Series XX, 5.75%, 07/01/36 | 85 | 58,356 | ||||||
Series XX, 5.25%, 07/01/40 | 1,020 | 700,274 | ||||||
Puerto Rico Electric Power Authority Refunding RB(d)(e) | ||||||||
Series AAA, 5.25%, 07/01/22 | 2,545 | 1,747,252 | ||||||
Series AAA, 5.25%, 07/01/29 | 95 | 65,222 | ||||||
Series UU, 1.00%, 07/01/19(f) | 55 | 35,750 | ||||||
Series UU, 1.16%, 07/01/19(f) | 60 | 39,000 | ||||||
Series UU, 1.00%, 07/01/20(f) | 495 | 287,016 | ||||||
Series UU, 0.90%, 07/01/31(h) | 580 | 336,301 | ||||||
Series ZZ, 5.25%, 07/01/19 | 455 | 312,377 | ||||||
Series ZZ, 5.25%, 07/01/21 | 50 | 34,327 | ||||||
Series ZZ, 5.25%, 07/01/24 | 345 | 236,857 | ||||||
Series ZZ, 5.25%, 07/01/26 | 40 | 27,462 | ||||||
Series ZZ, 5.00%, 07/01/49 | 145 | 99,549 | ||||||
Puerto Rico Public Buildings Authority Refunding RB(d)(e) | ||||||||
Series F, (GTD), 5.25%, 07/01/24 | 235 | 184,055 | ||||||
Series M, 10.00%, 07/01/34 | 155 | 130,200 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue RB | ||||||||
Series A-2, Restructured, 4.54%, 07/01/53 | 21 | 21,992 | ||||||
Series B-1, Restructured, 4.55%, 07/01/40 | 2,402 | 2,531,540 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue RB, CAB(b) | ||||||||
Series A-1, Restructured, 0.00%, 07/01/24 | 1,570 | 1,433,755 | ||||||
Series A-1, Restructured, 0.00%, 07/01/29 | 200 | 160,250 | ||||||
Series A-1, Restructured, 0.00%, 07/01/31 | 239 | 174,229 | ||||||
Series A-1, Restructured, 0.00%, 07/01/33 | 337 | 227,964 | ||||||
Series A-1, Restructured, 0.00%, 07/01/51 | 6,509 | 1,373,074 | ||||||
Series B-1, Restructured, 0.00%, 07/01/46 | 883 | 257,589 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue RB, CAB, Restructured, Series A-1, 0.00%, 07/01/46(b) | 12,738 | 3,712,745 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue RB, Restructured | ||||||||
Series A-1, 4.75%, 07/01/53 | 2,453 | 2,604,595 | ||||||
Series A-1, 5.00%, 07/01/58 | 5,234 | 5,637,123 | ||||||
Series A-2, 4.33%, 07/01/40 | 6,129 | 6,374,834 | ||||||
Series A-2, 4.78%, 07/01/58 | 2,080 | 2,215,096 | ||||||
|
| |||||||
57,007,862 | ||||||||
Rhode Island — 2.1% | ||||||||
Central Falls Detention Facility Corp. Refunding RB, 7.25%, 07/15/35(d)(e) | 4,190 | 642,465 |
Security | Par (000) | Value | ||||||
Rhode Island (continued) | ||||||||
Tobacco Settlement Financing Corp. Refunding RB | ||||||||
Series A, 5.00%, 06/01/40 | $ | 980 | $ | 1,086,467 | ||||
Series B, 4.50%, 06/01/45 | 5,055 | 5,342,630 | ||||||
Series B, 5.00%, 06/01/50 | 3,330 | 3,599,464 | ||||||
|
| |||||||
10,671,026 | ||||||||
South Carolina — 0.8% | ||||||||
South Carolina Jobs-Economic Development Authority RB, Series A, 5.00%, 11/15/54 | 345 | 333,822 | ||||||
South Carolina Public Service Authority RB, | 3,275 | 3,678,087 | ||||||
|
| |||||||
4,011,909 | ||||||||
Tennessee — 0.4% | ||||||||
Memphis-Shelby County Industrial Development Board Refunding TA | ||||||||
Series A, 5.50%, 07/01/37 | 925 | 933,861 | ||||||
Series A, 5.63%, 01/01/46 | 1,085 | 1,075,398 | ||||||
|
| |||||||
2,009,259 | ||||||||
Texas — 7.0% | ||||||||
Brazoria County Industrial Development Corp. RB, AMT, 7.00%, 03/01/39 | 675 | 711,281 | ||||||
Central Texas Regional Mobility Authority Refunding RB, CAB(b) | ||||||||
0.00%, 01/01/28 | 1,000 | 846,740 | ||||||
0.00%, 01/01/29 | 2,000 | 1,639,700 | ||||||
0.00%, 01/01/30 | 1,170 | 926,734 | ||||||
0.00%, 01/01/33 | 3,690 | 2,599,088 | ||||||
0.00%, 01/01/34 | 4,000 | 2,695,040 | ||||||
City of Houston Texas Airport System Revenue RB, Series A, AMT, 6.63%, 07/15/38 | 2,890 | 2,948,840 | ||||||
City of Houston Texas Airport System Revenue Refunding ARB, Series B-2, AMT, 5.00%, 07/15/27 | 250 | 263,103 | ||||||
City of Houston Texas Airport System Revenue Refunding RB | ||||||||
AMT, 5.00%, 07/01/29 | 730 | 738,738 | ||||||
Series C, AMT, 5.00%, 07/15/27 | 1,615 | 1,697,010 | ||||||
Harris County Cultural Education Facilities Finance Corp. RB, Series B, 7.00%, 01/01/23(g) | 475 | 552,601 | ||||||
Mission Economic Development Corp. Refunding RB, Senior Lien, AMT, 4.63%, 10/01/31(a) | 785 | 833,278 | ||||||
New Hope Cultural Education Facilities Finance Corp. RB(g) | ||||||||
Series A, 5.88%, 04/01/23 | 1,210 | 1,391,875 | ||||||
Series A, 6.00%, 04/01/23 | 1,845 | 2,128,447 | ||||||
New Hope Cultural Education Facilities Finance Corp. Refunding RB, Series A, | 1,085 | 1,095,481 | ||||||
Newark Higher Education Finance Corp. RB(a) | ||||||||
Series A, 5.50%, 08/15/35 | 290 | 325,429 | ||||||
Series A, 5.75%, 08/15/45 | 580 | 650,661 | ||||||
Port Beaumont Navigation District Refunding RB(a) | ||||||||
Series A, AMT, 3.63%, 01/01/35 | 650 | 645,470 | ||||||
Series A, AMT, 4.00%, 01/01/50 | 1,400 | 1,406,244 | ||||||
Red River Health Facilities Development Corp. RB | ||||||||
5.13%, 01/01/41 | 900 | 903,645 | ||||||
7.25%, 12/15/42(d)(e) | 2,895 | 1,915,234 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. Refunding RB, 5.00%, 10/01/49 | 865 | 888,156 | ||||||
Texas Private Activity Bond Surface Transportation Corp. RB, Senior Lien, 7.00%, 06/30/40 | 3,775 | 3,790,327 | ||||||
Texas Transportation Commission RB, CAB(b) | ||||||||
0.00%, 08/01/46 | 1,420 | 465,646 |
5 |
Schedule of Investments (unaudited) (continued) July 31, 2020 | BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Texas (continued) | ||||||||
Texas Transportation Commission RB, CAB(b) (continued) | ||||||||
0.00%, 08/01/47 | $ | 2,120 | $ | 660,041 | ||||
0.00%, 08/01/48 | 2,235 | 660,979 | ||||||
0.00%, 08/01/49 | 2,100 | 589,302 | ||||||
0.00%, 08/01/50 | 3,015 | 798,010 | ||||||
0.00%, 08/01/51 | 1,770 | 442,500 | ||||||
0.00%, 08/01/52 | 1,770 | 417,525 | ||||||
0.00%, 08/01/53 | 160 | 35,685 | ||||||
|
| |||||||
35,662,810 | ||||||||
Utah — 0.6% | ||||||||
Utah Charter School Finance Authority Refunding RB, Series A, 6.75%, 10/15/43 | 2,950 | 2,954,130 | ||||||
|
| |||||||
Virginia — 2.5% | ||||||||
Lower Magnolia Green Community Development Authority SAB(a) | ||||||||
5.00%, 03/01/35 | 495 | 504,717 | ||||||
5.00%, 03/01/45 | 505 | 506,060 | ||||||
Mosaic District Community Development Authority TA | ||||||||
Series A, 6.63%, 03/01/26 | 1,485 | 1,497,682 | ||||||
Series A, 6.88%, 03/01/36 | 1,300 | 1,309,477 | ||||||
Norfolk Redevelopment & Housing Authority RB | ||||||||
Series A, 4.00%, 01/01/29 | 300 | 301,836 | ||||||
Series A, 5.00%, 01/01/34 | 485 | 509,832 | ||||||
Series A, 5.00%, 01/01/49 | 955 | 974,186 | ||||||
Tobacco Settlement Financing Corp. Refunding RB, Series B-1, 5.00%, 06/01/47 | 2,370 | 2,369,976 | ||||||
Virginia College Building Authority RB, | 235 | 236,622 | ||||||
Virginia Small Business Financing Authority RB, Senior Lien, AMT, 6.00%, 01/01/37 | 4,440 | 4,771,668 | ||||||
|
| |||||||
12,982,056 | ||||||||
Washington — 0.8% | ||||||||
Greater Wenatchee Regional Events Center Public Facilities Dist Refunding RB, Series A, 5.50%, 09/01/42 | 1,495 | 1,489,857 | ||||||
Washington Health Care Facilities Authority Refunding RB | ||||||||
5.00%, 09/01/45 | 730 | 920,172 | ||||||
5.00%, 09/01/50 | 475 | 594,980 | ||||||
Washington State Housing Finance Commission Refunding RB(a) | ||||||||
5.75%, 01/01/35 | 315 | 327,254 | ||||||
6.00%, 01/01/45 | 850 | 880,048 | ||||||
|
| |||||||
4,212,311 | ||||||||
Wisconsin — 3.8% | ||||||||
Public Finance Authority RB | ||||||||
5.00%, 06/15/39 | 175 | 200,587 | ||||||
6.85%, 11/01/46(a) | 900 | 952,866 | ||||||
7.00%, 11/01/46(a) | 570 | 607,916 | ||||||
5.00%, 06/15/49 | 530 | 603,850 | ||||||
5.63%, 06/15/49(a) | 2,500 | 2,507,650 | ||||||
5.00%, 04/01/50(a) | 115 | 122,282 | ||||||
5.00%, 06/15/53 | 355 | 404,505 | ||||||
Series A, 6.25%, 10/01/31(a) | 605 | 637,089 | ||||||
Series A, 5.38%, 06/01/44(a) | 555 | 525,968 | ||||||
Series A, 7.00%, 10/01/47(a) | 605 | 624,790 | ||||||
Series A, 5.63%, 06/15/49(a) | 2,950 | 2,890,498 | ||||||
Series A, 5.50%, 06/01/54(a) | 680 | 632,726 |
Security | Par (000) | Value | ||||||
Wisconsin (continued) | ||||||||
Public Finance Authority RB (continued) | ||||||||
Series A-1, 4.50%, 01/01/35(a) | $ | 1,225 | $ | 1,249,635 | ||||
Series A-1, 5.50%, 12/01/48(a)(d)(e) | 20 | 18,338 | ||||||
Series A-1, 5.00%, 01/01/55(a) | 2,230 | 2,269,984 | ||||||
Series B, 0.00%, 01/01/35(a)(b) | 1,805 | 721,892 | ||||||
Series B, 0.00%, 01/01/60(a)(b) | 30,835 | 2,054,228 | ||||||
Public Finance Authority Refunding RB, Series A, 5.25%, 10/01/48 | 1,065 | 1,157,644 | ||||||
Wisconsin Health & Educational Facilities Authority Refunding RB | ||||||||
5.00%, 11/01/46 | 470 | 478,986 | ||||||
5.00%, 11/01/54 | 785 | 788,470 | ||||||
|
| |||||||
19,449,904 | ||||||||
|
| |||||||
Total Municipal Bonds — 89.8% |
| 458,583,743 | ||||||
|
| |||||||
Municipal Bonds Transferred to Tender Option Bond Trusts(i) |
| |||||||
Illinois — 3.0% | ||||||||
Illinois Finance Authority RB, Series A, (AGM), 6.00%, 08/15/41 | 7,180 | 7,551,924 | ||||||
Illinois Finance Authority Refunding RB | ||||||||
Series C, 4.00%, 02/15/27(g) | 4 | 4,197 | ||||||
Series C, 4.00%, 02/15/41 | 1,495 | 1,673,368 | ||||||
Illinois State Toll Highway Authority RB, Series A, 5.00%, 01/01/40 | 5,056 | 5,901,209 | ||||||
|
| |||||||
15,130,698 | ||||||||
Massachusetts — 0.5% | ||||||||
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 4.00%, 06/01/45 | 2,268 | 2,530,793 | ||||||
|
| |||||||
New York — 16.4% | ||||||||
City of New York Water & Sewer System RB, Series CC, 5.00%, 06/15/47 | 14,181 | 15,975,833 | ||||||
Hudson Yards Infrastructure Corp. RB(j) | ||||||||
5.75%, 02/15/21(g) | 2,798 | 2,876,633 | ||||||
5.75%, 02/15/47 | 1,721 | 1,769,617 | ||||||
New York City Housing Development Corp. RB, M/F Housing | ||||||||
Series C-1A, 4.15%, 11/01/39 | 1,893 | 2,002,175 | ||||||
Series C-1A, 4.20%, 11/01/44 | 3,470 | 3,669,916 | ||||||
Series C-1A, 4.30%, 11/01/47 | 2,840 | 3,003,219 | ||||||
Series D-1B, 4.25%, 11/01/45 | 8,996 | 9,660,627 | ||||||
New York City Water & Sewer System Refunding RB, Series HH, 5.00%, 06/15/31(j) | 8,610 | 8,964,043 | ||||||
New York Liberty Development Corp. ARB, 5.25%, 12/15/43 | 18,104 | 19,131,922 | ||||||
New York Liberty Development Corp. Refunding RB, 5.75%, 11/15/51(j) | 6,600 | 7,023,971 | ||||||
New York Power Authority Refunding RB, | 1,444 | 1,714,813 | ||||||
New York State Dormitory Authority Refunding RB, Series D, 4.00%, 02/15/47 | 6,956 | 8,119,987 | ||||||
|
| |||||||
83,912,756 | ||||||||
Pennsylvania — 0.6% | ||||||||
Pennsylvania Turnpike Commission RB, | 2,505 | 3,004,021 | ||||||
|
|
6 |
Schedule of Investments (unaudited) (continued) July 31, 2020 | BlackRock MuniAssets Fund, Inc. (MUA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Rhode Island — 0.4% | ||||||||
Narragansett Bay Commission Refunding RB, Series A, 4.00%, 09/01/22(g) | $ | 1,710 | $ | 1,846,338 | ||||
|
| |||||||
Texas — 0.5% | ||||||||
Lower Colorado River Authority Refunding RB, 4.00%, 05/15/43 | 2,271 | 2,375,435 | ||||||
|
| |||||||
Washington — 1.6% | ||||||||
City of Bellingham Washington Water & Sewer Revenue RB, 5.00%, 08/01/40 | 7,966 | 8,303,979 | ||||||
|
| |||||||
Wisconsin — 0.2% | ||||||||
Wisconsin Health & Educational Facilities Authority Refunding RB, 4.00%, 12/01/46 | 1,142 | 1,271,638 | ||||||
|
| |||||||
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 23.2% |
| 118,375,658 | ||||||
|
| |||||||
Total Long-Term Investments — 113.0% |
| 576,959,401 | ||||||
|
| |||||||
Shares | ||||||||
Short-Term Securities | ||||||||
Money Market Funds — 1.0% | ||||||||
BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.04%(k)(l) | 4,995,224 | 4,996,223 | ||||||
|
| |||||||
Total Short-Term Securities — 1.0% |
| 4,996,223 | ||||||
|
| |||||||
Total Investments — 114.0% |
| 581,955,624 | ||||||
Liabilities in Excess of Other Assets — (0.2)% |
| (1,404,134 | ) | |||||
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (13.8)% | (70,221,731 | ) | ||||||
|
| |||||||
Net Assets — 100.0% | $ | 510,329,759 | ||||||
|
|
(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) | Zero-coupon bond. |
(c) | When-issued security. |
(d) | Issuer filed for bankruptcy and/or is in default. |
(e) | Non-income producing security. |
(f) | Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
(g) | U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par. |
(h) | Variable rate security. Rate shown is the rate in effect as of period end. |
(i) | Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing. |
(j) | All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between December 15, 2020 to February 15, 2047, is $11,849,806. |
(k) | Affiliate of the Fund. |
(l) | Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be an affiliate/affiliates of the Fund during the period ended July 31, 2020, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | | Shares Held at 04/30/20 | | | Shares Purchased | | | Shares Sold | | | Shares Held at 07/31/20 | | | Value at 07/31/20 | | Income | | Net Realized Gain (Loss) | (a) | | Change in Unrealized Appreciation (Depreciation) | | ||||||||||
BlackRock Liquidity Funds, MuniCash, | 2,763,655 | 2,231,569 | (b) | — | 4,995,224 | $ | 4,996,223 | $ | 438 | $ | (823 | ) | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
(a) | Includes net capital gain distributions, if applicable. |
(b) | Represents net shares purchased (sold). |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of investments. 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) |
7 |
Schedule of Investments (unaudited) (continued) July 31, 2020 | BlackRock MuniAssets Fund, Inc. (MUA) |
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 BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments) |
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 investments is based on the pricing transparency of the investments 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 investments, 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 | $ | — | $ | 458,583,743 | $ | — | $ | 458,583,743 | ||||||||
Municipal Bonds Transferred to Tender Option Bond Trusts | — | 118,375,658 | — | 118,375,658 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 4,996,223 | — | — | 4,996,223 | ||||||||||||
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$ | 4,996,223 | $ | 576,959,401 | $ | — | $ | 581,955,624 | |||||||||
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The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of period end, TOBs of $70,195,137 are categorized as Level 2 within the disclosure hierarchy.
Portfolio Abbreviation | ||
AGM | Assured Guaranty Municipal Corp. | |
AMT | Alternative Minimum Tax | |
ARB | Airport Revenue Bonds | |
CAB | Capital Appreciation Bonds | |
GO | General Obligation Bonds | |
GTD | GTD Guaranteed | |
IDA | Industrial Development Authority | |
M/F | Multi-Family | |
RB | Revenue Bond | |
SAB | Special Assessment Bonds | |
ST | Special Tax | |
TA | Tax Allocation |
8 |