BLACKROCK MUNIYIELD FUND, INC.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment
Company Act file number: 811-06414
Name of Fund: BlackRock MuniYield Fund, Inc. (MYD)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield
Fund, Inc., 55 East 52nd Street, New York, NY 10055
Registrant’s telephone number, including area code:
(800) 882-0052, Option 4
Date of fiscal year end: 04/30/2016
Date of reporting period: 01/31/2016
Item 1 – Schedule of Investments
|
|
|
| Schedule of Investments January 31, 2016 (Unaudited) |
|
BlackRock MuniYield Fund, Inc. (MYD)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Alabama — 2.7% |
|
| County of Jefferson Alabama, RB, Limited Obligation School, Series A, 5.50%, 1/01/22 |
|
$ |
5,250 |
|
|
$ |
5,301,450 |
|
| County of Jefferson Alabama Sewer, Refunding RB: |
|
|
|
|
|
|
|
|
| Senior Lien, Series A (AGM), 5.00%, 10/01/44 |
|
|
1,665 |
|
|
|
1,833,481 |
|
| Senior Lien, Series A (AGM), 5.25%, 10/01/48 |
|
|
3,175 |
|
|
|
3,542,062 |
|
| Sub-Lien, Series D, 6.00%, 10/01/42 |
|
|
7,410 |
|
|
|
8,626,648 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
19,303,641 |
|
| Alaska — 1.0% |
|
| Northern Tobacco Securitization Corp., Refunding RB, Tobacco Settlement, Asset-Backed, Series A: |
|
|
|
|
|
|
|
|
| 4.63%, 6/01/23 |
|
|
1,550 |
|
|
|
1,550,589 |
|
| 5.00%, 6/01/46 |
|
|
6,450 |
|
|
|
5,450,830 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
7,001,419 |
|
| Arizona — 2.2% |
|
| County of Maricopa Arizona IDA, RB, Arizona Charter Schools Project, Series A, 6.75%, 7/01/29 |
|
|
895 |
|
|
|
867,353 |
|
| Salt Verde Financial Corp., RB, Senior: |
|
|
|
|
|
|
|
|
| 5.00%, 12/01/32 |
|
|
7,365 |
|
|
|
8,887,125 |
|
| 5.00%, 12/01/37 |
|
|
5,000 |
|
|
|
6,001,250 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
15,755,728 |
|
| California — 8.5% |
|
| California Health Facilities Financing Authority, RB: |
|
|
|
|
|
|
|
|
| St. Joseph Health System, Series A, 5.75%, 7/01/39 |
|
|
4,425 |
|
|
|
5,081,980 |
|
| Sutter Health, Series B, 6.00%, 8/15/42 |
|
|
6,465 |
|
|
|
7,798,406 |
|
| California Health Facilities Financing Authority, Refunding RB, Series A: |
|
|
|
|
|
|
|
|
| Dignity Health, 6.00%, 7/01/34 |
|
|
3,155 |
|
|
|
3,641,690 |
|
| St. Joseph Health System, 5.00%, 7/01/33 |
|
|
2,560 |
|
|
|
3,000,525 |
|
| California Municipal Finance Authority, RB, Senior, Caritas Affordable Housing, Inc. Projects, S/F Housing,
Series A: |
|
|
|
|
|
|
|
|
| 5.25%, 8/15/39 |
|
|
305 |
|
|
|
344,601 |
|
| 5.25%, 8/15/49 |
|
|
770 |
|
|
|
866,520 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| California (continued) |
|
|
|
|
|
|
|
|
| California Pollution Control Financing Authority, RB, Poseidon Resources (Channel Side) LP Desalination Project, AMT, 5.00%,
11/21/45 (a) |
|
$ |
1,650 |
|
|
$ |
1,802,213 |
|
| California Statewide Communities Development Authority, RB, John Muir Health, Series A, 5.13%, 7/01/39 |
|
|
2,300 |
|
|
|
2,534,163 |
|
| California Statewide Financing Authority, RB, Asset-Backed, Tobacco Settlement, Series A, 6.00%, 5/01/43 |
|
|
3,285 |
|
|
|
3,340,188 |
|
| City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport, Series A, 5.25%,
5/15/39 |
|
|
1,605 |
|
|
|
1,806,203 |
|
| City of Stockton California Public Financing Authority, RB, Delta Water Supply Project, Series A: |
|
|
|
|
|
|
|
|
| 6.25%, 10/01/38 |
|
|
405 |
|
|
|
504,488 |
|
| 6.25%, 10/01/40 |
|
|
335 |
|
|
|
417,293 |
|
| State of California, GO: |
|
|
|
|
|
|
|
|
| (AMBAC), 5.00%, 4/01/31 |
|
|
10 |
|
|
|
10,037 |
|
| Various Purposes, 6.00%, 3/01/33 |
|
|
5,085 |
|
|
|
6,092,033 |
|
| Various Purposes, 6.50%, 4/01/33 |
|
|
14,075 |
|
|
|
16,524,613 |
|
| State of California Public Works Board, LRB, Various Capital Projects: |
|
|
|
|
|
|
|
|
| Series I, 5.00%, 11/01/38 |
|
|
1,605 |
|
|
|
1,862,908 |
|
| Sub-Series I-1, 6.38%, 11/01/34 |
|
|
2,385 |
|
|
|
2,867,032 |
|
| Tobacco Securitization Authority of Southern California, Refunding RB: |
|
|
|
|
|
|
|
|
| Senior Series A1, 5.00%, 6/01/37 |
|
|
1,775 |
|
|
|
1,681,262 |
|
| Tobacco Settlement, Asset-Backed, Senior Series A-1, 4.75%, 6/01/25 |
|
|
1,460 |
|
|
|
1,460,336 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
61,636,491 |
|
| Colorado — 0.9% |
|
| County of Adams Colorado, COP, Refunding, 4.00%, 12/01/40 |
|
|
1,720 |
|
|
|
1,791,002 |
|
| University of Colorado, RB, Series A (b): |
|
|
|
|
|
|
|
|
| 5.25%, 6/01/19 |
|
|
2,250 |
|
|
|
2,567,587 |
|
| 5.38%, 6/01/19 |
|
|
1,250 |
|
|
|
1,433,350 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
1 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc. (MYD) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Colorado (continued) |
|
| University of Colorado, RB, Series A (b) (continued): |
|
|
|
|
|
|
|
|
| 5.38%, 6/01/19 |
|
$ |
830 |
|
|
$ |
950,558 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
6,742,497 |
|
| Connecticut — 1.6% |
|
|
|
|
|
|
|
|
| Connecticut State Health & Educational Facility Authority, RB, Ascension Health Senior Credit, Series A, 5.00%,
11/15/40 |
|
|
2,770 |
|
|
|
3,080,711 |
|
| Connecticut State Health & Educational Facility Authority, Refunding RB, Wesleyan University, Series G: |
|
|
|
|
|
|
|
|
| 5.00%, 7/01/35 |
|
|
2,225 |
|
|
|
2,529,892 |
|
| 5.00%, 7/01/39 |
|
|
5,000 |
|
|
|
5,685,150 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
11,295,753 |
|
| Delaware — 1.9% |
|
|
|
|
|
|
|
|
| County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Power LLC Project, 6.00%, 10/01/40 |
|
|
2,305 |
|
|
|
2,501,294 |
|
| Delaware State EDA, RB, Exempt Facilities, Indian River Power LLC Project, 5.38%, 10/01/45 |
|
|
8,275 |
|
|
|
8,580,347 |
|
| Delaware Transportation Authority, RB, 5.00%, 6/01/55 |
|
|
2,430 |
|
|
|
2,744,977 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
13,826,618 |
|
| District of Columbia — 3.8% |
|
|
|
|
|
|
|
|
| District of Columbia, Tax Allocation Bonds, City Market at O Street Project, 5.13%, 6/01/41 |
|
|
4,440 |
|
|
|
4,835,737 |
|
| Metropolitan Washington Airports Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| CAB, 2nd Senior Lien, Series B (AGC), 0.00%, 10/01/31 (c) |
|
|
8,350 |
|
|
|
4,722,343 |
|
| CAB, 2nd Senior Lien, Series B (AGC), 0.00%, 10/01/32 (c) |
|
|
15,000 |
|
|
|
8,113,950 |
|
| Dulles Toll Road, 1st Senior Lien, Series A, 5.25%, 10/01/44 |
|
|
2,425 |
|
|
|
2,711,077 |
|
| Dulles Toll Road, CAB, 2nd Senior Lien, Series B (AGC), 0.00%, 10/01/33 (c) |
|
|
13,410 |
|
|
|
6,943,296 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
27,326,403 |
|
| Florida — 5.5% |
|
|
|
|
|
|
|
|
| City of Atlantic Beach Florida, RB, Health Care Facilities, Fleet Landing Project, Series B, 5.63%, 11/15/43 |
|
|
2,805 |
|
|
|
3,145,359 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Florida (continued) |
|
| City of Clearwater Florida Water & Sewer Revenue, RB, Series A, 5.25%, 12/01/39 |
|
$ |
6,900 |
|
|
$ |
7,777,611 |
|
| County of Alachua Florida Health Facilities Authority, RB, 5.00%, 12/01/44 |
|
|
4,825 |
|
|
|
5,367,040 |
|
| County of Broward Florida Water & Sewer Utility, Refunding RB, Series A, 5.25%, 10/01/18 (b) |
|
|
2,155 |
|
|
|
2,411,661 |
|
| County of Collier Florida Health Facilities Authority, Refunding RB, Series A, 5.00%, 5/01/45 |
|
|
2,790 |
|
|
|
3,127,674 |
|
| County of Miami-Dade Florida Aviation, Refunding ARB, Miami International Airport, Series A-1, 5.38%, 10/01/41 |
|
|
7,530 |
|
|
|
8,595,646 |
|
| Mid-Bay Bridge Authority, RB, Springing Lien, Series A, 7.25%, 10/01/21 (b) |
|
|
6,150 |
|
|
|
8,124,703 |
|
| Santa Rosa Bay Bridge Authority, RB, 6.25%, 7/01/28 (d)(e) |
|
|
3,887 |
|
|
|
1,476,932 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
40,026,626 |
|
| Georgia — 2.7% |
|
| City of Atlanta Georgia Water & Wastewater, Refunding RB, 5.00%, 11/01/40 |
|
|
5,270 |
|
|
|
6,125,321 |
|
| County of Gainesville Georgia & Hall Hospital Authority, Refunding RB, Northeast Georgia Health System, Inc. Project, Series A,
5.50%, 8/15/54 |
|
|
1,075 |
|
|
|
1,281,970 |
|
| DeKalb Private Hospital Authority, Refunding RB, Children’s Healthcare, 5.25%, 11/15/39 |
|
|
1,700 |
|
|
|
1,914,132 |
|
| Metropolitan Atlanta Rapid Transit Authority, RB, Sales Tax, 3rd Indenture, Series A, 5.00%, 7/01/39 |
|
|
6,945 |
|
|
|
7,767,774 |
|
| Municipal Electric Authority of Georgia, RB, Plant Vogtle Units 3 & 4 Project, Series A,
5.00%, 7/01/60 |
|
|
2,345 |
|
|
|
2,598,096 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
19,687,293 |
|
| Hawaii — 0.4% |
|
|
|
|
|
|
|
|
| State of Hawaii Harbor System, RB, Series A, 5.25%, 7/01/30 |
|
|
2,760 |
|
|
|
3,147,863 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 2 |
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc. (MYD) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Idaho — 1.4% |
|
|
|
|
|
|
|
|
| County of Power Idaho Industrial Development Corp., RB, FMC Corp. Project, AMT,
6.45%, 8/01/32 |
|
$ |
10,000 |
|
|
$ |
10,021,800 |
|
| Illinois — 16.3% |
|
|
|
|
|
|
|
|
| Bolingbrook Special Service Area No. 1, Special Tax Bonds, Forest City Project, 5.90%, 3/01/27 (f) |
|
|
1,000 |
|
|
|
1,005,150 |
|
| City of Chicago Illinois, GARB, O’Hare International Airport, 3rd Lien: |
|
|
|
|
|
|
|
|
| Series A, 5.63%, 1/01/35 |
|
|
4,200 |
|
|
|
4,880,274 |
|
| Series A, 5.75%, 1/01/39 |
|
|
3,500 |
|
|
|
4,087,230 |
|
| Series C, 6.50%, 1/01/41 |
|
|
11,920 |
|
|
|
14,385,056 |
|
| City of Chicago Illinois, GO, Project, Series A, 5.00%, 1/01/34 |
|
|
3,695 |
|
|
|
3,563,458 |
|
| City of Chicago Illinois, GO, Refunding, Project, Series A, 5.25%, 1/01/32 |
|
|
6,390 |
|
|
|
6,434,986 |
|
| City of Chicago Illinois, Refunding RB, Sales Tax, Series A, 5.25%, 1/01/38 |
|
|
1,660 |
|
|
|
1,778,341 |
|
| City of Chicago Illinois Transit Authority, RB, Sales Tax Receipts, 5.25%, 12/01/40 |
|
|
2,130 |
|
|
|
2,328,729 |
|
| City of Chicago Illinois Waterworks, Refunding RB, 2nd Lien Project, 5.00%, 11/01/42 |
|
|
5,530 |
|
|
|
5,911,625 |
|
| County of Cook Illinois Community College District No. 508, GO, City College of Chicago, 5.50%, 12/01/38 |
|
|
1,635 |
|
|
|
1,897,516 |
|
| Illinois Finance Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Ascension Health, Series A, 5.00%, 11/15/37 |
|
|
1,970 |
|
|
|
2,252,340 |
|
| Central Dupage Health, Series B, 5.50%, 11/01/39 |
|
|
3,235 |
|
|
|
3,705,725 |
|
| Illinois State Toll Highway Authority, RB: |
|
|
|
|
|
|
|
|
| Senior, Series C, 5.00%, 1/01/36 |
|
|
5,435 |
|
|
|
6,298,676 |
|
| Senior, Series C, 5.00%, 1/01/37 |
|
|
5,815 |
|
|
|
6,714,406 |
|
| Series A, 5.00%, 1/01/38 |
|
|
4,720 |
|
|
|
5,299,758 |
|
| Metropolitan Pier & Exposition Authority, Refunding RB, McCormick Place Expansion Project: |
|
|
|
|
|
|
|
|
| CAB, Series B (AGM), 0.00%, 6/15/47 (c) |
|
|
27,225 |
|
|
|
6,454,775 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Illinois (continued) |
|
| Metropolitan Pier & Exposition Authority, Refunding RB, McCormick Place Expansion Project (continued): |
|
|
|
|
|
|
|
|
| Series B (AGM), 5.00%, 6/15/50 |
|
$ |
12,435 |
|
|
$ |
13,206,219 |
|
| Series B-2, 5.00%, 6/15/50 |
|
|
5,085 |
|
|
|
5,280,925 |
|
| Railsplitter Tobacco Settlement Authority, RB: |
|
|
|
|
|
|
|
|
| 5.50%, 6/01/23 |
|
|
2,730 |
|
|
|
3,230,627 |
|
| 6.00%, 6/01/28 |
|
|
2,335 |
|
|
|
2,810,243 |
|
| State of Illinois, GO: |
|
|
|
|
|
|
|
|
| 5.50%, 7/01/38 |
|
|
4,000 |
|
|
|
4,433,360 |
|
| 5.00%, 2/01/39 |
|
|
3,195 |
|
|
|
3,362,801 |
|
| Series A, 5.00%, 4/01/38 |
|
|
2,510 |
|
|
|
2,637,859 |
|
| State of Illinois, RB, Build Illinois, Series B, 5.25%, 6/15/34 |
|
|
1,275 |
|
|
|
1,419,764 |
|
| University of Illinois, RB, Auxiliary Facilities System, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 4/01/39 |
|
|
1,675 |
|
|
|
1,871,075 |
|
| 5.00%, 4/01/44 |
|
|
2,045 |
|
|
|
2,267,414 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
117,518,332 |
|
| Indiana — 4.8% |
|
| City of Valparaiso Indiana, RB, Exempt Facilities, Pratt Paper LLC Project, AMT: |
|
|
|
|
|
|
|
|
| 6.75%, 1/01/34 |
|
|
1,635 |
|
|
|
2,002,352 |
|
| 7.00%, 1/01/44 |
|
|
3,950 |
|
|
|
4,868,414 |
|
| Indiana Finance Authority, RB, Series A: |
|
|
|
|
|
|
|
|
| CWA Authority Project, 1st Lien, 5.25%, 10/01/38 |
|
|
6,665 |
|
|
|
7,866,966 |
|
| Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.25%, 1/01/51 |
|
|
840 |
|
|
|
915,835 |
|
| Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 7/01/44 |
|
|
910 |
|
|
|
984,302 |
|
| Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 7/01/48 |
|
|
3,015 |
|
|
|
3,247,004 |
|
| Sisters of St. Francis Health Services, 5.25%, 11/01/39 |
|
|
1,690 |
|
|
|
1,888,355 |
|
| Indiana Finance Authority, Refunding RB, Parkview Health System, Series A, 5.75%, 5/01/31 |
|
|
6,645 |
|
|
|
7,563,871 |
|
| Indiana Municipal Power Agency, RB, Series B, 6.00%, 1/01/39 |
|
|
2,230 |
|
|
|
2,531,608 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
3 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc. (MYD) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Indiana (continued) |
|
| Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 1/15/40 |
|
$ |
2,580 |
|
|
$ |
2,900,255 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
34,768,962 |
|
| Iowa — 2.6% |
|
|
|
|
|
|
|
|
| Iowa Finance Authority, Refunding RB, Midwestern Disaster Area, Iowa Fertilizer Co. Project: |
|
|
|
|
|
|
|
|
| 5.00%, 12/01/19 |
|
|
1,950 |
|
|
|
2,040,558 |
|
| 5.50%, 12/01/22 |
|
|
4,765 |
|
|
|
5,010,969 |
|
| 5.25%, 12/01/25 |
|
|
940 |
|
|
|
1,025,879 |
|
| Iowa Student Loan Liquidity Corp., Refunding RB, Student Loan, Senior Series A-1, AMT, 5.15%, 12/01/22 |
|
|
2,845 |
|
|
|
3,027,023 |
|
| Iowa Tobacco Settlement Authority, Refunding RB, Asset-Backed: |
|
|
|
|
|
|
|
|
| CAB, Series B, 5.60%, 6/01/34 |
|
|
3,500 |
|
|
|
3,502,380 |
|
| Series C, 5.63%, 6/01/46 |
|
|
4,335 |
|
|
|
4,313,368 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
18,920,177 |
|
| Kansas — 0.7% |
|
|
|
|
|
|
|
|
| Kansas Development Finance Authority, Refunding RB, Adventist Health, Series C,
5.75%, 11/15/38 |
|
|
4,380 |
|
|
|
5,051,761 |
|
| Kentucky — 0.6% |
|
|
|
|
|
|
|
|
| Kentucky Economic Development Finance Authority, RB, Catholic Health Initiatives, Series A, 5.25%, 1/01/45 |
|
|
2,055 |
|
|
|
2,311,957 |
|
| Kentucky Public Transportation Infrastructure Authority, RB, Downtown Crossing Project, Convertible CAB, 1st Tier, Series C,
0.00%, 7/01/43 (f) |
|
|
2,485 |
|
|
|
1,879,455 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
4,191,412 |
|
| Louisiana — 3.3% |
|
|
|
|
|
|
|
|
| East Baton Rouge Sewerage Commission, RB, Series A, 5.25%, 2/01/19 (b) |
|
|
1,610 |
|
|
|
1,816,949 |
|
| Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Westlake Chemical Corp. Project,
6.75%, 11/01/32 |
|
|
9,000 |
|
|
|
9,733,500 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Louisiana (continued) |
|
|
|
|
|
|
|
|
| New Orleans Aviation Board, RB, Passenger Facility Charge, Series A, 5.25%, 1/01/41 |
|
$ |
1,260 |
|
|
$ |
1,342,026 |
|
| Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, Series A: |
|
|
|
|
|
|
|
|
| 5.50%, 5/15/30 |
|
|
2,055 |
|
|
|
2,311,258 |
|
| 5.25%, 5/15/31 |
|
|
1,750 |
|
|
|
1,963,658 |
|
| 5.25%, 5/15/32 |
|
|
2,240 |
|
|
|
2,542,422 |
|
| 5.25%, 5/15/33 |
|
|
2,430 |
|
|
|
2,712,585 |
|
| 5.25%, 5/15/35 |
|
|
1,025 |
|
|
|
1,148,082 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
23,570,480 |
|
| Maine — 0.5% |
|
|
|
|
|
|
|
|
| Maine Health & Higher Educational Facilities Authority, RB, Series A,
5.00%, 7/01/39 |
|
|
3,140 |
|
|
|
3,472,055 |
|
| Maryland — 0.5% |
|
|
|
|
|
|
|
|
| County of Prince George’s Maryland, Special Obligation, Remarketing, National Harbor Project,
5.20%, 7/01/34 |
|
|
1,500 |
|
|
|
1,501,365 |
|
| Maryland EDC, RB, Transportation Facilities Project, Series A, 5.75%, 6/01/35 |
|
|
880 |
|
|
|
964,102 |
|
| Maryland EDC, Refunding RB, CNX Marine Terminals, Inc., 5.75%, 9/01/25 |
|
|
1,545 |
|
|
|
1,477,684 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
3,943,151 |
|
| Massachusetts — 1.5% |
|
|
|
|
|
|
|
|
| Massachusetts Bay Transportation Authority, Refunding RB, Senior Series A-1, 5.25%, 7/01/29 |
|
|
3,250 |
|
|
|
4,329,520 |
|
| Massachusetts Development Finance Agency, Refunding RB, Covanta Energy Project, Series C, AMT,
5.25%, 11/01/42 (a) |
|
|
4,565 |
|
|
|
4,591,203 |
|
| Massachusetts Health & Educational Facilities Authority, Refunding RB, Partners Healthcare System, Series J1,
5.00%, 7/01/39 |
|
|
1,640 |
|
|
|
1,830,207 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
10,750,930 |
|
| Michigan — 4.4% |
|
|
|
|
|
|
|
|
| City of Detroit Michigan Sewage Disposal System, Refunding RB, Senior Lien, Series A, 5.25%, 7/01/39 |
|
|
8,995 |
|
|
|
10,002,440 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 4 |
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc. (MYD) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Michigan (continued) |
|
|
|
|
|
|
|
|
| Kalamazoo Hospital Finance Authority, Refunding RB, Bronson Methodist Hospital, 5.50%, 5/15/36 |
|
$ |
2,795 |
|
|
$ |
3,139,148 |
|
| Michigan Finance Authority, Refunding RB, Detroit Water & Sewage Department Project, Senior Lien, Series C-1,
5.00%, 7/01/44 |
|
|
1,830 |
|
|
|
1,982,238 |
|
| Michigan State Hospital Finance Authority, Refunding RB, Henry Ford Health System, 5.75%, 11/15/39 |
|
|
6,085 |
|
|
|
6,948,157 |
|
| Royal Oak Hospital Finance Authority, Refunding RB, William Beaumont Hospital, Series V,
8.00%, 9/01/18 (b) |
|
|
2,000 |
|
|
|
2,366,500 |
|
| Royal Oak Hospital Finance Authority Michigan, Refunding RB, William Beaumont Hospital, Series V,
8.25%, 9/01/18 (b) |
|
|
6,365 |
|
|
|
7,572,059 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
32,010,542 |
|
| Mississippi — 0.0% |
|
|
|
|
|
|
|
|
| University of Southern Mississippi, RB, Campus Facilities Improvements Project,
5.38%, 9/01/19 (b) |
|
|
280 |
|
|
|
323,896 |
|
| Missouri — 0.2% |
|
|
|
|
|
|
|
|
| Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Refunding RB, Combined Lien, Series A,
5.00%, 10/01/44 |
|
|
510 |
|
|
|
574,525 |
|
| State of Missouri Health & Educational Facilities Authority, Refunding RB, St. Louis College of Pharmacy Project,
5.50%, 5/01/43 |
|
|
510 |
|
|
|
565,860 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
1,140,385 |
|
| Nebraska — 0.4% |
|
|
|
|
|
|
|
|
| Central Plains Energy Project Nebraska, RB, Gas Project No. 3: |
|
|
|
|
|
|
|
|
| 5.25%, 9/01/37 |
|
|
1,670 |
|
|
|
1,887,751 |
|
| 5.00%, 9/01/42 |
|
|
925 |
|
|
|
1,012,820 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
2,900,571 |
|
| New Jersey — 6.0% |
|
|
|
|
|
|
|
|
| Casino Reinvestment Development Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| 5.25%, 11/01/39 |
|
|
2,125 |
|
|
|
2,212,592 |
|
| 5.25%, 11/01/44 |
|
|
3,180 |
|
|
|
3,287,961 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| New Jersey (continued) |
|
|
|
|
|
|
|
|
| County of Essex New Jersey Improvement Authority, RB, AMT, 5.25%, 7/01/45 (a) |
|
$ |
2,250 |
|
|
$ |
2,337,930 |
|
| New Jersey EDA, RB, AMT: |
|
|
|
|
|
|
|
|
| Continental Airlines, Inc. Project, 4.88%, 9/15/19 |
|
|
1,675 |
|
|
|
1,767,075 |
|
| Continental Airlines, Inc. Project, 5.25%, 9/15/29 |
|
|
975 |
|
|
|
1,070,531 |
|
| Kapkowski Road Landfill Project, Series B, 6.50%, 4/01/31 |
|
|
2,500 |
|
|
|
3,004,400 |
|
| New Jersey State Turnpike Authority, RB: |
|
|
|
|
|
|
|
|
| Series A, 5.00%, 1/01/38 |
|
|
1,355 |
|
|
|
1,535,893 |
|
| Series A, 5.00%, 1/01/43 |
|
|
1,835 |
|
|
|
2,067,293 |
|
| Series E, 5.00%, 1/01/45 |
|
|
5,425 |
|
|
|
6,168,550 |
|
| New Jersey Transportation Trust Fund Authority, RB: |
|
|
|
|
|
|
|
|
| CAB, Transportation System, Series C (AMBAC), 0.00%, 12/15/35 (c) |
|
|
7,395 |
|
|
|
2,988,689 |
|
| Transportation Program, Series AA, 5.00%, 6/15/44 |
|
|
7,135 |
|
|
|
7,508,517 |
|
| Transportation System, Series A, 5.50%, 6/15/41 |
|
|
3,630 |
|
|
|
3,927,624 |
|
| Transportation System, Series B, 5.25%, 6/15/36 |
|
|
4,990 |
|
|
|
5,338,701 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
43,215,756 |
|
| New York — 8.6% |
|
|
|
|
|
|
|
|
| City of New York New York Transitional Finance Authority, RB: |
|
|
|
|
|
|
|
|
| Fiscal 2012, Sub-Series E-1, 5.00%, 2/01/42 |
|
|
4,985 |
|
|
|
5,693,867 |
|
| Future Tax Secured Revenue, Fiscal 2015, Series B, Sub-Series B-1, 5.00%, 8/01/39 |
|
|
5,055 |
|
|
|
5,908,183 |
|
| Counties of New York Tobacco Trust IV, Refunding RB, Settlement Pass-Through Turbo, Series A,
6.25%, 6/01/41 (a) |
|
|
3,800 |
|
|
|
3,969,214 |
|
| County of Westchester New York Healthcare Corp., RB, Senior Lien, Series A, 5.00%, 11/01/44 |
|
|
473 |
|
|
|
531,134 |
|
| Erie Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed, Series A, 5.00%, 6/01/45 |
|
|
4,070 |
|
|
|
3,959,825 |
|
| Metropolitan Transportation Authority, RB, Series B: |
|
|
|
|
|
|
|
|
| 5.25%, 11/15/38 |
|
|
4,960 |
|
|
|
5,857,710 |
|
| 5.25%, 11/15/39 |
|
|
1,765 |
|
|
|
2,077,299 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
5 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc.
(MYD) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| New York (continued) |
|
| Metropolitan Transportation Authority, Refunding RB, Dedicated Tax Fund, Series B, 5.00%, 11/15/34 |
|
$ |
4,910 |
|
|
$ |
5,578,988 |
|
| New York Liberty Development Corp., Refunding RB: |
|
|
|
|
|
|
|
|
| 2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 7/15/49 |
|
|
2,480 |
|
|
|
2,800,763 |
|
| 3 World Trade Center Project, Class 1, 5.00%, 11/15/44 (a) |
|
|
8,765 |
|
|
|
9,308,781 |
|
| 3 World Trade Center Project, Class 2, 5.15%, 11/15/34 (a) |
|
|
705 |
|
|
|
746,334 |
|
| 3 World Trade Center Project, Class 2, 5.38%, 11/15/40 (a) |
|
|
1,760 |
|
|
|
1,878,606 |
|
| New York State Dormitory Authority, Refunding RB, General Purpose, Series A, 5.00%, 6/15/31 |
|
|
3,595 |
|
|
|
4,315,402 |
|
| Port Authority of New York & New Jersey, ARB, Special Project, JFK International Air Terminal LLC Project,
Series 8: |
|
|
|
|
|
|
|
|
| 6.00%, 12/01/36 |
|
|
2,625 |
|
|
|
3,073,823 |
|
| 6.00%, 12/01/42 |
|
|
1,485 |
|
|
|
1,731,347 |
|
| Westchester Tobacco Asset Securitization, Refunding RB, 5.13%, 6/01/45 |
|
|
4,900 |
|
|
|
4,877,558 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
62,308,834 |
|
| North Carolina — 2.0% |
|
| North Carolina Capital Facilities Finance Agency, Refunding RB, Solid Waste Disposal Facility, Duke Energy Carolinas Project, Series
B, 4.63%, 11/01/40 |
|
|
1,140 |
|
|
|
1,224,884 |
|
| North Carolina Medical Care Commission, RB, Health Care Facilities, Duke University Health System, Series A,
5.00%, 6/01/42 |
|
|
2,805 |
|
|
|
3,126,930 |
|
| North Carolina Medical Care Commission, Refunding RB, 1st Mortgage: |
|
|
|
|
|
|
|
|
| Aldersgate, 6.25%, 7/01/35 |
|
|
2,970 |
|
|
|
3,314,580 |
|
| Presbyterian Homes, 5.40%, 10/01/27 |
|
|
5,000 |
|
|
|
5,103,700 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| North Carolina (continued) |
|
| North Carolina Medical Care Commission, Refunding RB, 1st Mortgage (continued): |
|
|
|
|
|
|
|
|
| Retirement Facilities Whitestone Project, Series A, 7.75%, 3/01/41 |
|
$ |
1,210 |
|
|
$ |
1,389,975 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
14,160,069 |
|
| Ohio — 1.5% |
|
| County of Allen Ohio, Refunding RB, Series A, 4.00%, 11/01/44 |
|
|
4,355 |
|
|
|
4,487,958 |
|
| County of Franklin Ohio, RB, Health Care Facilities Improvement, OPRS Communities Obligation Group, Series A,
6.13%, 7/01/40 |
|
|
1,380 |
|
|
|
1,525,673 |
|
| County of Montgomery Ohio, Refunding RB, Catholic Health, Series A, 5.00%, 5/01/39 |
|
|
2,840 |
|
|
|
3,077,225 |
|
| State of Ohio, RB, Portsmouth Bypass Project, AMT, 5.00%, 6/30/53 |
|
|
1,685 |
|
|
|
1,835,117 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
10,925,973 |
|
| Pennsylvania — 2.7% |
|
| Allentown Neighborhood Improvement Zone Development Authority, Refunding RB, Series A, 5.00%, 5/01/42 |
|
|
5,250 |
|
|
|
5,573,505 |
|
| City of Philadelphia Pennsylvania Hospitals & Higher Education Facilities Authority, RB, Temple University Health System, Series
A, 5.63%, 7/01/42 |
|
|
1,325 |
|
|
|
1,432,590 |
|
| Pennsylvania Economic Development Financing Authority, RB: |
|
|
|
|
|
|
|
|
| Aqua Pennsylvania, Inc. Project, Series B, 5.00%, 11/15/40 |
|
|
3,805 |
|
|
|
4,242,537 |
|
| Pennsylvania Bridge Finco LP, AMT, 5.00%, 6/30/42 |
|
|
1,765 |
|
|
|
1,942,594 |
|
| Pennsylvania Economic Development Financing Authority, Refunding RB, National Gypson Co., AMT, 5.50%, 11/01/44 |
|
|
3,210 |
|
|
|
3,350,181 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 6 |
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc.
(MYD) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Pennsylvania (continued) |
|
| Pennsylvania Turnpike Commission, RB, Series A, 5.00%, 12/01/44 |
|
$ |
2,305 |
|
|
$ |
2,595,660 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
19,137,067 |
|
| Rhode Island — 2.7% |
|
| Central Falls Detention Facility Corp., Refunding RB, 7.25%, 7/15/35 (d)(e) |
|
|
4,155 |
|
|
|
1,034,138 |
|
| Tobacco Settlement Financing Corp., Refunding RB, Series B: |
|
|
|
|
|
|
|
|
| 4.50%, 6/01/45 |
|
|
8,215 |
|
|
|
8,327,217 |
|
| 5.00%, 6/01/50 |
|
|
9,875 |
|
|
|
10,239,881 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
19,601,236 |
|
| South Carolina — 4.3% |
|
| State of South Carolina Ports Authority, RB: |
|
|
|
|
|
|
|
|
| 5.25%, 7/01/40 |
|
|
6,695 |
|
|
|
7,547,943 |
|
| AMT, 5.25%, 7/01/55 |
|
|
2,690 |
|
|
|
2,977,534 |
|
| State of South Carolina Public Service Authority, RB, Santee Cooper, Series A, 5.50%, 12/01/54 |
|
|
8,090 |
|
|
|
9,314,179 |
|
| State of South Carolina Public Service Authority, Refunding RB, Series E, 5.25%, 12/01/55 |
|
|
9,550 |
|
|
|
10,836,862 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
30,676,518 |
|
| Tennessee — 2.2% |
|
| City of Chattanooga Tennessee Health Educational & Housing Facility Board, RB, Catholic Health Initiatives, Series A,
5.25%, 1/01/45 |
|
|
2,855 |
|
|
|
3,211,989 |
|
| County of Hardeman Tennessee Correctional Facilities Corp., RB, 7.75%, 8/01/17 |
|
|
1,125 |
|
|
|
1,124,966 |
|
| County of Shelby Tennessee Health Educational & Housing Facilities Board, Refunding RB, St. Jude’s Children’s Research
Hospital, 5.00%, 7/01/31 |
|
|
11,250 |
|
|
|
11,459,363 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
15,796,318 |
|
| Texas — 6.7% |
|
| Central Texas Regional Mobility Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Senior Lien, 6.25%, 1/01/46 |
|
|
4,365 |
|
|
|
5,050,654 |
|
| Sub-Lien, 5.00%, 1/01/33 |
|
|
725 |
|
|
|
799,284 |
|
| Central Texas Turnpike System, Refunding RB, Series C, 5.00%, 8/15/42 |
|
|
1,225 |
|
|
|
1,364,454 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Texas (continued) |
|
| City of Dallas Texas Waterworks & Sewer System, Refunding RB, 5.00%, 10/01/35 |
|
$ |
3,060 |
|
|
$ |
3,527,599 |
|
| County of Fort Bend Texas Industrial Development Corp., RB, NRG Energy Project, Series B, 4.75%, 11/01/42 |
|
|
410 |
|
|
|
411,784 |
|
| City of Houston Texas Airport System, RB, AMT, Series B-1, 5.00%, 7/15/30 |
|
|
3,600 |
|
|
|
3,887,100 |
|
| City of Houston Texas Airport System, Refunding ARB: |
|
|
|
|
|
|
|
|
| Senior Lien, Series A, 5.50%, 7/01/39 |
|
|
3,100 |
|
|
|
3,414,526 |
|
| United Airlines, Inc. Terminal E Project, AMT, 5.00%, 7/01/29 |
|
|
2,200 |
|
|
|
2,393,644 |
|
| Clifton Higher Education Finance Corp., RB, Idea Public Schools, 6.00%, 8/15/43 |
|
|
1,525 |
|
|
|
1,820,453 |
|
| County of Harris Texas Cultural Education Facilities Finance Corp., RB, 1st Mortgage, Brazos Presbyterian Homes, Inc. Project,
Series B: |
|
|
|
|
|
|
|
|
| 6.38%, 1/01/33 |
|
|
460 |
|
|
|
535,440 |
|
| 7.00%, 1/01/43 |
|
|
485 |
|
|
|
577,562 |
|
| County of Matagorda Texas Navigation District No. 1, Refunding RB, Central Power & Light Co., Project, Series A,
6.30%, 11/01/29 |
|
|
4,320 |
|
|
|
4,933,958 |
|
| La Vernia Higher Education Finance Corp., RB, Kipp, Inc., Series A, 6.38%, 8/15/19 (b) |
|
|
1,000 |
|
|
|
1,186,330 |
|
| North Texas Tollway Authority, RB, CAB, Special Project System, Series B, 0.00%, 9/01/37 (c) |
|
|
4,110 |
|
|
|
1,704,170 |
|
| North Texas Tollway Authority, Refunding RB, Series A, 5.00%, 1/01/38 |
|
|
1,910 |
|
|
|
2,186,129 |
|
| Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien: |
|
|
|
|
|
|
|
|
| LBJ Infrastructure Group LLC, LBJ Freeway Managed Lanes Project, 7.00%, 6/30/40 |
|
|
6,000 |
|
|
|
7,243,560 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
7 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc.
(MYD) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Texas (continued) |
|
| Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien (continued): |
|
|
|
|
|
|
|
|
| NTE Mobility Partners LLC, North Tarrant Express Managed Lanes Project, 6.88%, 12/31/39 |
|
$ |
6,255 |
|
|
$ |
7,367,827 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
48,404,474 |
|
| Virginia — 1.5% |
|
| Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings OpCo LLC Project, AMT: |
|
|
|
|
|
|
|
|
| 5.25%, 1/01/32 |
|
|
3,270 |
|
|
|
3,648,241 |
|
| 6.00%, 1/01/37 |
|
|
5,905 |
|
|
|
6,824,467 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
10,472,708 |
|
| Washington — 1.0% |
|
| Port of Seattle Washington, RB, Series C, AMT, 5.00%, 4/01/40 |
|
|
1,565 |
|
|
|
1,744,161 |
|
| Washington Health Care Facilities Authority, RB, Catholic Health Initiatives, Series A, 5.75%, 1/01/45 |
|
|
4,745 |
|
|
|
5,623,442 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
7,367,603 |
|
| Wisconsin — 3.1% |
|
| State of Wisconsin, Refunding RB, Series A, 6.00%, 5/01/36 |
|
|
14,300 |
|
|
|
16,534,804 |
|
| State of Wisconsin Health & Educational Facilities Authority, RB, Ascension Health Senior Credit Group, Series E,
5.00%, 11/15/33 |
|
|
4,970 |
|
|
|
5,640,652 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
22,175,456 |
|
| Wyoming — 1.1% |
|
| County of Sweetwater Wyoming, Refunding RB, Idaho Power Co. Project, Remarketing, 5.25%, 7/15/26 |
|
|
6,195 |
|
|
|
7,052,512 |
|
| Wyoming Municipal Power Agency, Inc., RB, Series A, 5.00%, 1/01/42 |
|
|
595 |
|
|
|
646,652 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
7,699,164 |
|
| Total Municipal Bonds — 111.8% |
|
|
|
806,275,962 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts (g) |
|
Par
(000) |
|
|
Value |
|
| Alabama — 0.7% |
|
| City of Birmingham Alabama Special Care Facilities Financing Authority, Refunding RB,
Ascension Health, Senior Credit, Series C-2, 5.00%, 11/15/36 |
|
$ |
4,538 |
|
|
$ |
4,691,752 |
|
| California — 7.8% |
|
| Bay Area Toll Authority, Refunding RB, San Francisco Bay Area, Series F-1, 5.63%, 4/01/19 (b) |
|
|
6,581 |
|
|
|
7,563,565 |
|
| California Educational Facilities Authority, RB, University of Southern California, Series B,
5.25%, 10/01/39 (h) |
|
|
5,310 |
|
|
|
5,926,332 |
|
| City & County of San Francisco California Public Utilities Commission, RB, Water Revenue, Series B,
5.00%, 11/01/39 |
|
|
19,080 |
|
|
|
21,546,472 |
|
| City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport, Senior Series A,
5.00%, 5/15/40 |
|
|
11,973 |
|
|
|
13,584,474 |
|
| Los Angeles Community College District California, GO, Election of 2001, Series A (AGM),
5.00%, 8/01/17 (b) |
|
|
4,650 |
|
|
|
4,963,689 |
|
| San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/33 |
|
|
2,154 |
|
|
|
2,465,469 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
56,050,001 |
|
| Colorado — 3.6% |
|
| Colorado Health Facilities Authority, RB, Catholic Health (AGM) (b): |
|
|
|
|
|
|
|
|
| Series C-3, 5.10%, 4/29/18 |
|
|
7,490 |
|
|
|
7,909,815 |
|
| Series C-7, 5.00%, 5/01/18 |
|
|
4,800 |
|
|
|
5,078,784 |
|
| Colorado Health Facilities Authority, Refunding RB, Catholic Health Initiatives, Series A,
5.50%, 7/01/34 (h) |
|
|
4,299 |
|
|
|
4,850,314 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 8 |
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc. (MYD) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts (g) |
|
Par
(000) |
|
|
Value |
|
| Colorado (continued) |
|
| County of Adams Colorado, COP, Refunding, 4.00%, 12/01/45 |
|
$ |
7,820 |
|
|
$ |
8,076,965 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
25,915,878 |
|
| Connecticut — 2.7% |
|
| Connecticut State Health & Educational Facility Authority, RB, Yale University: |
|
|
|
|
|
|
|
|
| Series T-1, 4.70%, 7/01/29 |
|
|
9,117 |
|
|
|
9,598,121 |
|
| Series X-3, 4.85%, 7/01/37 |
|
|
9,266 |
|
|
|
9,784,873 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
19,382,994 |
|
| Florida — 1.8% |
|
| County of Miami-Dade Florida, RB, Water & Sewer System,
5.00%, 10/01/34 |
|
|
11,448 |
|
|
|
13,064,542 |
|
| Georgia — 1.0% |
|
| Private Colleges & Universities Authority, Refunding RB, Emory University, Series C,
5.00%, 9/01/38 |
|
|
6,398 |
|
|
|
7,021,027 |
|
| Massachusetts — 0.8% |
|
| Massachusetts School Building Authority, RB, Senior, Series B,
5.00%, 10/15/41 |
|
|
4,607 |
|
|
|
5,415,670 |
|
| New Hampshire — 0.6% |
|
| New Hampshire Health & Education Facilities Authority, RB, Dartmouth College,
5.25%, 6/01/39 (h) |
|
|
4,048 |
|
|
|
4,592,349 |
|
| New York — 7.5% |
|
| City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution,
Series FF-2, 5.50%, 6/15/40 |
|
|
3,194 |
|
|
|
3,645,441 |
|
| Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (h) |
|
|
3,260 |
|
|
|
3,795,152 |
|
| New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43 |
|
|
21,629 |
|
|
|
25,144,053 |
|
| New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.75%, 11/15/51 (h) |
|
|
13,081 |
|
|
|
15,298,623 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts (g) |
|
Par
(000) |
|
|
Value |
|
| New York (continued) |
|
| Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55 |
|
$ |
5,400 |
|
|
$ |
6,391,224 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
54,274,493 |
|
| North Carolina — 4.0% |
|
| North Carolina Capital Facilities Finance Agency, Refunding RB: |
|
|
|
|
|
|
|
|
| Duke University Project, Series A, 5.00%, 10/01/41 |
|
|
18,897 |
|
|
|
19,418,569 |
|
| Duke University Project, Series B, 5.00%, 10/01/55 |
|
|
5,290 |
|
|
|
6,167,505 |
|
| Wake Forest University, 5.00%, 1/01/38 |
|
|
3,120 |
|
|
|
3,447,101 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
29,033,175 |
|
| Ohio — 4.4% |
|
| State of Ohio, Refunding RB, Cleveland Clinic Health System Obligated Group, Series A,
5.50%, 1/01/39 |
|
|
27,896 |
|
|
|
31,475,831 |
|
| Texas — 2.9% |
|
| City of San Antonio Texas Public Service Board, RB, Electric & Gas Systems, Junior Lien, 5.00%, 2/01/43 |
|
|
5,060 |
|
|
|
5,688,351 |
|
| County of Harris Texas Metropolitan Transit Authority, Refunding RB, Series A, 5.00%, 11/01/41 |
|
|
6,920 |
|
|
|
8,038,064 |
|
| University of Texas, Refunding RB, Financing System, Series B, 5.00%, 8/15/43 |
|
|
6,243 |
|
|
|
7,290,398 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
21,016,813 |
|
| Utah — 1.1% |
|
| City of Riverton Utah, RB, IHC Health Services, Inc., 5.00%, 8/15/41 |
|
|
7,303 |
|
|
|
7,996,533 |
|
| Virginia — 3.5% |
|
| County of Fairfax Virginia IDA, Refunding RB, Health Care, Inova Health System, Series A, 5.50%, 5/15/35 |
|
|
6,266 |
|
|
|
7,105,107 |
|
| University of Virginia, Refunding RB, General, 5.00%, 6/01/40 |
|
|
10,618 |
|
|
|
11,579,425 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
9 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc. (MYD) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts (g) |
|
Par
(000) |
|
|
Value |
|
| Virginia (continued) |
|
|
|
|
|
|
|
|
| Virginia Small Business Financing Authority, Refunding RB, Sentara Healthcare, 5.00%, 11/01/40 |
|
$ |
6,075 |
|
|
$ |
6,775,606 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
25,460,138 |
|
| Washington — 0.8% |
|
|
|
|
|
|
|
|
| Central Puget Sound Regional Transit Authority, RB, Series A (AGM), 5.00%, 11/01/17
(b) |
|
|
5,384 |
|
|
|
5,794,037 |
|
| Wisconsin — 1.7% |
|
|
|
|
|
|
|
|
| Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert &
Community Health, Inc., Obligated Group, Series C, 5.25%, 4/01/39 (h) |
|
|
11,456 |
|
|
|
12,458,544 |
|
Total Municipal Bonds Transferred to
Tender Option Bond Trusts — 44.9% |
|
|
|
323,643,777 |
|
| Total Long-Term Investments
(Cost — $1,018,483,858) — 156.7% |
|
|
|
1,129,919,739 |
|
|
|
|
|
|
|
|
|
|
| Short-Term Securities |
|
Shares |
|
|
Value |
|
| BlackRock Liquidity Funds, MuniCash,
0.02% (i)(j) |
|
|
21,005,613 |
|
|
$ |
21,005,613 |
|
Total Short-Term Securities
(Cost — $21,005,613) — 2.9% |
|
|
|
|
|
|
21,005,613 |
|
| Total Investments (Cost — $1,039,489,471*) — 159.6% |
|
|
|
1,150,925,352 |
|
| Liabilities in Excess of Other Assets — (0.6)% |
|
|
|
(4,638,824 |
) |
| Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable —
(24.1)% |
|
|
|
(173,798,912 |
) |
| VRDP Shares, at Liquidation Value — (34.9)% |
|
|
|
(251,400,000 |
) |
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
721,087,616 |
|
|
|
|
|
|
|
|
|
|
| * |
|
As of period end, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows: |
|
|
|
|
|
| Tax cost |
|
$ |
866,819,767 |
|
|
|
|
|
|
| Gross unrealized appreciation |
|
$ |
116,898,875 |
|
| Gross unrealized depreciation |
|
|
(6,569,656 |
) |
|
|
|
|
|
| Net unrealized appreciation |
|
$ |
110,329,219 |
|
|
|
|
|
|
|
| Notes to Schedule of Investments |
| (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. |
| (d) |
|
Issuer filed for bankruptcy and/or is in default of interest payments. |
| (e) |
|
Non-income producing security. |
| (f) |
|
Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end.
|
| (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 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 October 1, 2016 to November 15 2019, is $23,450,890. |
| (i) |
|
During the period ended January 31, 2016, investments in issuers considered to be affiliates of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of
1940, as amended, were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliate |
|
Shares Held
at April 30,
2015 |
|
|
Net
Activity |
|
|
Shares Held
at January 31, 2016 |
|
|
Income |
|
| BlackRock Liquidity Funds, MuniCash |
|
|
— |
|
|
|
21,005,613 |
|
|
|
21,005,613 |
|
|
|
— |
|
| FFI Institutional Tax-Exempt Fund |
|
|
4,603,069 |
|
|
|
(4,603,069 |
) |
|
|
— |
|
|
$ |
1,464 |
|
| (j) |
|
Current yield as of period end. |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 10 |
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc. (MYD) |
|
| Derivative Financial Instruments Outstanding as of Period
End |
Financial Futures Contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts
Short |
|
|
Issue |
|
Expiration |
|
Notional
Value |
|
Unrealized
Depreciation |
|
| |
(82 |
) |
|
10-Year U.S. Treasury Note |
|
March 2016 |
|
$10,625,406 |
|
$ |
(228,728 |
) |
| |
(78 |
) |
|
5-Year U.S. Treasury Note |
|
March 2016 |
|
$9,412,406 |
|
|
(134,266 |
) |
| |
(46 |
) |
|
Long U.S. Treasury Bond |
|
March 2016 |
|
$7,407,438 |
|
|
(268,081 |
) |
| |
(14 |
) |
|
Ultra U.S. Treasury Bond |
|
March 2016 |
|
$2,326,625 |
|
|
(90,471 |
) |
| |
Total |
|
$ |
(721,546 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| AGC |
|
Assured Guarantee Corp. |
| AGM |
|
Assured Guaranty Municipal Corp. |
| AMBAC |
|
American Municipal Bond Assurance Corp. |
| AMT |
|
Alternative Minimum Tax (subject to) |
| ARB |
|
Airport Revenue Bonds |
| CAB |
|
Capital Appreciation Bonds |
| COP |
|
Certificates of Participation |
| EDA |
|
Economic Development Authority |
| EDC |
|
Economic Development Corp. |
| GARB |
|
General Airport Revenue Bonds |
| GO |
|
General Obligation Bonds |
| IDA |
|
Industrial Development Authority |
| LRB |
|
Lease Revenue Bonds |
| RB |
|
Revenue Bonds |
| S/F |
|
Single-Family |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
11 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniYield Fund, Inc. (MYD) |
|
| Fair Value Hierarchy as of Period End |
Various inputs are used in determining the fair value of investments and derivative 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 Fund’s own assumptions used in determining the fair value of investments and derivative 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. The significant unobservable inputs used by the Global Valuation
Committee in determining the price for Fair Valued Investments are typically categorized as Level 3.
Changes in valuation
techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of
the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative 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 investments and derivative financial instruments, refer to the Fund’s most recent financial statements as contained in
its semi-annual report.
The following tables summarize the Fund’s investments and derivative financial instruments
categorized in the disclosure hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Total |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Long-Term Investments1 |
|
|
— |
|
|
$ |
1,129,919,739 |
|
|
— |
|
$ |
1,129,919,739 |
|
| Short-Term Securities |
|
$ |
21,005,613 |
|
|
|
— |
|
|
— |
|
|
21,005,613 |
|
|
|
|
|
|
| Total |
|
$ |
21,005,613 |
|
|
$ |
1,129,919,739 |
|
|
— |
|
$ |
1,150,925,352 |
|
|
|
|
|
|
|
1 See above
Schedule of Investments for values in each state or political subdivision. |
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Total |
|
| Derivative Financial Instruments1 |
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate contracts
|
|
$ |
(721,546 |
) |
|
|
— |
|
|
— |
|
$ |
(721,546 |
) |
| 1 Derivative financial
instruments are financial futures contracts, which are valued at the unrealized appreciation (depreciation) on the instrument. |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 12 |
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (concluded) |
|
BlackRock MuniYield Fund, Inc. (MYD) |
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 |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash pledged for financial futures contracts
|
|
$ |
432,850 |
|
|
|
— |
|
|
— |
|
$ |
432,850 |
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOB Trust Certificates |
|
|
— |
|
|
$ |
(173,776,366 |
) |
|
— |
|
|
(173,776,366 |
) |
| VRDP Shares |
|
|
— |
|
|
|
(251,400,000 |
) |
|
— |
|
|
(251,400,000 |
) |
|
|
|
|
|
| Total |
|
$ |
432,850 |
|
|
$ |
(425,176,366 |
) |
|
— |
|
$ |
(424,743,516 |
) |
|
|
|
|
|
During the period ended January 31, 2016, there were no transfers between levels.
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD FUND, INC. |
|
JANUARY 31, 2016 |
|
13 |
Item 2 – Controls and Procedures
|
|
|
| 2(a) – |
|
The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that
the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on
the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
|
| 2(b) – |
|
There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially
affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 3 – Exhibits
Certifications – Attached hereto
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
| BlackRock MuniYield Fund, Inc. |
|
|
|
|
|
|
|
|
|
By: |
|
|
|
/s/ John M. Perlowski |
|
|
|
|
|
|
John M. Perlowski |
|
|
|
|
|
|
Chief Executive Officer (principal executive officer) of |
|
|
|
|
|
|
BlackRock MuniYield Fund, Inc. |
|
|
|
|
Date: March 22, 2016 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has
been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
|
|
|
| By: |
|
|
|
/s/ John M. Perlowski |
|
|
|
|
John M. Perlowski |
|
|
|
|
Chief Executive Officer (principal executive officer) of |
|
|
|
|
BlackRock MuniYield Fund, Inc. |
|
| Date: March 22, 2016 |
|
|
|
| By: |
|
|
|
/s/ Neal J. Andrews |
|
|
|
|
Neal J. Andrews |
|
|
|
|
Chief Financial Officer (principal financial officer) of |
|
|
|
|
BlackRock MuniYield Fund, Inc. |
|
| Date: March 22, 2016 |