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: 04/30/2018

Date of reporting period: 07/31/2017

 


Item 1 – Schedule of Investments

 


Schedule of Investments July 31, 2017 (Unaudited)

  

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

Municipal Bonds    Par
(000)
    Value  
Alabama — 2.8%  

County of Jefferson Alabama, RB, Limited Obligation School, Series A, 5.50%, 1/01/22

   $ 5,250     $ 5,259,660  

County of Jefferson Alabama Sewer, Refunding RB:

    

Senior Lien, Series A (AGM), 5.00%, 10/01/44

     1,665       1,871,909  

Senior Lien, Series A (AGM), 5.25%, 10/01/48

     3,175       3,615,785  

Sub-Lien, Series D, 6.00%, 10/01/42

     7,410       8,713,123  
    

 

 

 
               19,460,477  
Alaska — 0.2%  

Northern Tobacco Securitization Corp., Refunding RB, Tobacco Settlement, Asset-Backed, Series A, 4.63%, 6/01/23

     1,070       1,073,895  
Arizona — 2.6%  

City of Phoenix Arizona IDA, RB, Legacy Traditional Schools Projects, Series A, 5.00%, 7/01/46 (a)

     3,575       3,647,680  

Salt Verde Financial Corp., RB, Senior:

    

5.00%, 12/01/32

     7,365       8,744,243  

5.00%, 12/01/37

     5,000       6,019,100  
    

 

 

 
               18,411,023  
California — 9.8%  

California Health Facilities Financing Authority, RB:

    

St. Joseph Health System, Series A, 5.75%, 7/01/39

     4,425       4,800,019  

Sutter Health, Series B, 6.00%, 8/15/42

     6,465       7,355,037  

California Health Facilities Financing Authority, Refunding RB, Series A:

    

Dignity Health, 6.00%, 7/01/19 (b)

     3,155       3,456,870  

St. Joseph Health System, 5.00%, 7/01/33

     2,560       2,925,030  

California Municipal Finance Authority, RB, Senior, Caritas Affordable Housing, Inc. Projects, S/F Housing, Series A:

    

5.25%, 8/15/39

     305       337,641  

5.25%, 8/15/49

     770       846,861  

California Municipal Finance Authority, Refunding RB, Community Medical Centers, Series A:

    

5.00%, 2/01/36

     670       762,239  
Municipal Bonds    Par
(000)
    Value  
California (continued)  

California Municipal Finance Authority, Refunding RB, Community Medical Centers, Series A (continued):

    

5.00%, 2/01/37

   $ 505     $ 573,640  

California Pollution Control Financing Authority, RB, Poseidon Resources (Channel Side) LP Desalination Project, AMT, 5.00%, 11/21/45 (a)

     1,650       1,761,095  

California Statewide Communities Development Authority, RB, Series A:

    

John Muir Health, 5.13%, 7/01/39

     2,300       2,466,428  

Loma Linda University Medical Center, 5.00%, 12/01/41 (a)

     1,100       1,189,628  

Loma Linda University Medical Center, 5.00%, 12/01/46 (a)

     1,335       1,438,596  

California Statewide Financing Authority, RB, Asset-Backed, Tobacco Settlement, Series A, 6.00%, 5/01/43

     3,285       3,308,980  

City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport, Series A, 5.25%, 5/15/39

     1,605       1,722,005  

City of Stockton California Public Financing Authority, RB, Delta Water Supply Project, Series A:

    

6.25%, 10/01/38

     405       493,800  

6.25%, 10/01/40

     335       408,452  

Golden State Tobacco Securitization Corp., Refunding RB, Asset-Backed, Senior Series A-1, 5.13%, 6/01/47

     6,205       6,091,945  

State of California, GO:

    

(AMBAC), 5.00%, 4/01/31

     10       10,030  

Various Purposes, 6.00%, 3/01/33

     5,085       5,719,506  

Various Purposes, 6.50%, 4/01/33

     14,075       15,404,243  

State of California Public Works Board, LRB, Various Capital Projects:

    

Series I, 5.00%, 11/01/38

     1,605       1,825,816  

Sub-Series I-1, 6.38%, 11/01/19 (b)

     2,385       2,674,014  
 

 

     
                
   BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017    1


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

Municipal Bonds    Par
(000)
    Value  
California (continued)  

Tobacco Securitization Authority of Southern California, Refunding RB, Tobacco Settlement, Asset-Backed, Senior Series A-1:

    

4.75%, 6/01/25

   $ 1,200     $ 1,208,472  

5.00%, 6/01/37

     1,775       1,778,195  
    

 

 

 
               68,558,542  
Colorado — 0.7%  

Colorado High Performance Transportation Enterprise, RB, C-470 Express Lanes, 5.00%, 12/31/47

     460       508,194  

University of Colorado, RB, Series A (b):

    

5.25%, 6/01/19

     2,250       2,423,115  

5.38%, 6/01/19

     1,250       1,349,000  

5.38%, 6/01/19

     830       895,736  
    

 

 

 
               5,176,045  
Connecticut — 0.8%  

Connecticut State Health & Educational Facility Authority, RB, Ascension Health Senior Credit, Series A, 5.00%, 11/15/40

     2,770       2,965,230  

Connecticut State Health & Educational Facility Authority, Refunding RB, Wesleyan University, Series G, 5.00%, 7/01/20 (b)

     2,225       2,476,781  
    

 

 

 
               5,442,011  
Delaware — 2.0%  

County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Power LLC Project, 6.00%, 10/01/40

     2,305       2,482,024  

Delaware Transportation Authority, RB, U.S. 301 Project, 5.00%, 6/01/55

     2,430       2,714,772  

State of Delaware EDA, RB, Exempt Facilities, Indian River Power LLC Project, 5.38%, 10/01/45

     8,275       8,614,771  
    

 

 

 
               13,811,567  
District of Columbia — 4.5%  

District of Columbia, Refunding RB, Georgetown University:

    

5.00%, 4/01/35

     910       1,075,948  

Issue, 5.00%, 4/01/42

     1,050       1,227,923  
Municipal Bonds    Par
(000)
    Value  
District of Columbia (continued)  

District of Columbia, Tax Allocation Bonds, City Market at O Street Project, 5.13%, 6/01/41

   $ 4,440     $ 4,937,724  

Metropolitan Washington Airports Authority, Refunding RB:

    

CAB, 2nd Senior Lien, Series B (AGC), 0.00%, 10/01/31 (c)

     8,350       5,100,430  

CAB, 2nd Senior Lien, Series B (AGC), 0.00%, 10/01/32 (c)

     15,000       8,758,050  

Dulles Toll Road, 1st Senior Lien, Series A, 5.25%, 10/01/44

     2,425       2,602,340  

Dulles Toll Road, CAB, 2nd Senior Lien, Series B (AGC), 0.00%, 10/01/33 (c)

     13,410       7,485,596  
    

 

 

 
               31,188,011  
Florida — 5.7%  

City of Atlantic Beach Florida, RB, Health Care Facilities, Fleet Landing Project, Series B, 5.63%, 11/15/43

     2,805       3,130,324  

City of Clearwater Florida Water & Sewer Revenue, RB, Series A, 5.25%, 12/01/19 (b)

     6,900       7,577,649  

County of Alachua Florida Health Facilities Authority, RB, Shands Teaching Hospital and Clinics, Series A, 5.00%, 12/01/44

     4,825       5,345,232  

County of Broward Florida Water & Sewer Utility, Refunding RB, Series A, 5.25%, 10/01/18 (b)

     2,155       2,263,655  

County of Collier Florida Health Facilities Authority, Refunding RB, Series A, 5.00%, 5/01/45

     2,790       3,103,819  

County of Miami-Dade Florida Aviation, Refunding ARB, Miami International Airport, Series A-1, 5.38%, 10/01/41

     7,530       8,307,623  

Mid-Bay Florida Bridge Authority, RB, Springing Lien, Series A, 7.25%, 10/01/21 (b)

     6,150       7,632,088  

Santa Rosa Bay Bridge Authority, RB, 6.25%, 7/01/28 (d)(e)

     3,614       2,675,197  
    

 

 

 
               40,035,587  
Georgia — 2.3%  

City of Atlanta Georgia Water & Wastewater, Refunding RB, 5.00%, 11/01/40

     4,520       5,238,997  
 

 

     
                
2    BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017   


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

Municipal Bonds    Par
(000)
    Value  
Georgia (continued)  

County of Gainesville Georgia & Hall Hospital Authority, Refunding RB, Northeast Georgia Health System, Inc. Project, Series A, 5.50%, 8/15/54

   $ 1,075     $ 1,267,758  

DeKalb Georgia Private Hospital Authority, Refunding RB, Children’s Healthcare, 5.25%, 11/15/39

     1,700       1,844,874  

Metropolitan Atlanta Rapid Transit Authority, RB, Sales Tax, 3rd Indenture, Series A, 5.00%, 7/01/19

     6,945       7,425,733  
    

 

 

 
               15,777,362  
Hawaii — 0.4%  

State of Hawaii Harbor System, RB, Series A, 5.25%, 7/01/30

     2,760       3,016,570  
Idaho — 1.4%  

County of Power Idaho Industrial Development Corp., RB, FMC Corp. Project, AMT, 6.45%, 8/01/32

     10,000       10,017,300  
Illinois — 16.1%  

Bolingbrook Special Service Area No. 1, Special Tax Bonds, Forest City Project, 5.90%, 3/01/27 (f)

     1,000       1,000,010  

City of Chicago Illinois, GO, Project, Series A, 5.00%, 1/01/34

     3,695       3,705,013  

City of Chicago Illinois, GO, Refunding, Project, Series A, 5.25%, 1/01/32

     6,390       6,532,753  

City of Chicago Illinois O’Hare International Airport, ARB, 3rd Lien, Series A:

    

5.75%, 1/01/21 (b)

     2,940       3,395,024  

5.75%, 1/01/39

     560       635,163  

City of Chicago Illinois O’Hare International Airport, GARB, 3rd Lien:

    

5.63%, 1/01/21 (b)

     3,390       3,900,500  

5.63%, 1/01/35

     810       914,223  

Series C, 6.50%, 1/01/21 (b)

     11,920       14,063,693  

City of Chicago Illinois Transit Authority, RB, Sales Tax Receipts, 5.25%, 12/01/40

     2,130       2,294,542  

City of Chicago Illinois Waterworks, Refunding RB, 2nd Lien Project, 5.00%, 11/01/42

     5,530       5,845,542  
Municipal Bonds    Par
(000)
    Value  
Illinois (continued)  

County of Cook Illinois Community College District No. 508, GO, City College of Chicago, 5.50%, 12/01/38

   $ 1,635     $ 1,753,897  

Illinois Finance Authority, Refunding RB:

    

Ascension Health, Series A, 5.00%, 11/15/37

     1,970       2,168,202  

Central Dupage Health, Series B, 5.50%, 11/01/39

     3,235       3,534,496  

Presence Health Network, Series C, 4.00%, 2/15/41

     3,000       2,791,800  

Illinois State Toll Highway Authority, RB, Senior:

    

Series A, 5.00%, 1/01/38

     2,535       2,839,124  

Series C, 5.00%, 1/01/36

     5,435       6,152,855  

Series C, 5.00%, 1/01/37

     5,815       6,583,045  

Metropolitan Pier & Exposition Authority, Refunding RB, McCormick Place Expansion Project:

    

CAB, Series B (AGM), 0.00%, 6/15/47 (c)

     27,225       7,163,170  

Series B (AGM), 5.00%, 6/15/50

     12,435       12,819,739  

Series B-2, 5.00%, 6/15/50

     5,085       5,102,238  

Railsplitter Tobacco Settlement Authority, RB:

    

5.50%, 6/01/23

     2,730       3,110,726  

6.00%, 6/01/28

     2,335       2,660,382  

State of Illinois, GO:

    

5.50%, 7/01/38

     4,000       4,248,240  

5.00%, 2/01/39

     3,195       3,273,309  

Series A, 5.00%, 4/01/38

     2,510       2,566,977  

State of Illinois, RB, Build Illinois, Series B, 5.25%, 6/15/19 (b)

     1,275       1,375,585  

University of Illinois, RB, Auxiliary Facilities System, Series A, 5.00%, 4/01/44

     2,045       2,227,169  
    

 

 

 
               112,657,417  
Indiana — 4.8%  

City of Valparaiso Indiana, RB, Exempt Facilities, Pratt Paper LLC Project, AMT:

    

6.75%, 1/01/34

     1,635       1,943,655  

7.00%, 1/01/44

     3,950       4,739,487  

Indiana Finance Authority, RB, Series A:

    

CWA Authority Project, 1st Lien, 5.25%, 10/01/38

     6,665       7,604,765  
 

 

     
                
   BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017    3


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

Municipal Bonds    Par
(000)
    Value  
Indiana (continued)  

Indiana Finance Authority, RB, Series A (continued):

    

Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 7/01/44

   $ 910     $ 973,564  

Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 7/01/48

     3,015       3,236,391  

Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.25%, 1/01/51

     840       909,518  

Sisters of St. Francis Health Services, 5.25%, 11/01/39

     1,690       1,819,893  

Indiana Finance Authority, Refunding RB, Parkview Health System, Series A, 5.75%, 5/01/31

     6,645       7,117,659  

Indiana Municipal Power Agency, RB, Series B, 6.00%, 1/01/19 (b)

     2,230       2,388,085  

Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 1/15/40

     2,580       2,919,657  
    

 

 

 
               33,652,674  
Iowa — 1.8%  

Iowa Finance Authority, Refunding RB, Midwestern Disaster Area, Iowa Fertilizer Co. Project:

    

5.00%, 12/01/19

     970       990,681  

5.50%, 12/01/22

     4,765       4,869,449  

5.25%, 12/01/25

     940       1,002,679  

5.88%, 12/01/26 (a)

     835       871,556  

Iowa Student Loan Liquidity Corp., Refunding RB, Student Loan, Senior Series A-1, AMT, 5.15%, 12/01/22

     2,145       2,273,550  

Iowa Tobacco Settlement Authority, Refunding RB, Asset-Backed, CAB, Series B, 5.60%, 6/01/34

     2,695       2,665,274  
    

 

 

 
               12,673,189  
Kansas — 0.7%  

Kansas Development Finance Authority, Refunding RB, Adventist Health, Series C, 5.75%, 11/15/38

     4,380       4,785,763  
Municipal Bonds    Par
(000)
    Value  
Kentucky — 0.6%  

Kentucky Economic Development Finance Authority, RB, Catholic Health Initiatives, Series A, 5.25%, 1/01/45

   $ 2,055     $ 2,207,892  

Kentucky Public Transportation Infrastructure Authority, RB, Downtown Crossing Project, Convertible CAB, 1st Tier, Series C, 0.00%, 7/01/43 (f)

     2,485       2,148,059  
    

 

 

 
               4,355,951  
Louisiana — 3.2%  

East Baton Rouge Sewerage Commission, RB, Series A, 5.25%, 2/01/19 (b)

     1,610       1,714,489  

Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Westlake Chemical Corp. Project, 6.75%, 11/01/32

     9,000       9,101,070  

New Orleans Aviation Board, RB, Passenger Facility Charge, Series A, 5.25%, 1/01/41

     1,260       1,342,580  

Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, Series A:

    

5.50%, 5/15/30

     2,055       2,168,785  

5.25%, 5/15/31

     1,750       1,857,818  

5.25%, 5/15/32

     2,240       2,406,947  

5.25%, 5/15/33

     2,430       2,599,930  

5.25%, 5/15/35

     1,025       1,104,171  
    

 

 

 
               22,295,790  
Maine — 0.5%  

Maine Health & Higher Educational Facilities Authority, RB, Series A, 5.00%, 7/01/39

     3,140       3,335,810  
Maryland — 0.7%  

City of Baltimore Maryland, Refunding RB, Convention Center Hotel, 5.00%, 9/01/35

     205       231,675  

County of Prince George’s Maryland, Special Obligation, Remarketing, National Harbor Project, 5.20%, 7/01/34

     1,398       1,410,246  

Maryland EDC, RB, Transportation Facilities Project, Series A, 5.75%, 6/01/35

     880       944,354  

Maryland EDC, Refunding RB, CNX Marine Terminals, Inc., 5.75%, 9/01/25

     1,545       1,562,227  
 

 

     
                
4    BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017   


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

Municipal Bonds    Par
(000)
    Value  
Maryland (continued)  

Maryland Health & Higher Educational Facilities Authority, RB, Trinity Health Credit Group, Series 2017, 5.00%, 12/01/46

   $ 880     $ 1,014,297  
    

 

 

 
               5,162,799  
Massachusetts — 2.0%  

Commonwealth of Massachusetts, GO, Series E, 3.00%, 4/01/44

     3,535       3,216,320  

Massachusetts Bay Transportation Authority, Refunding RB, Senior Series A-1, 5.25%, 7/01/29

     3,250       4,175,828  

Massachusetts Development Finance Agency, Refunding RB, Covanta Energy Project, Series C, AMT, 5.25%, 11/01/42 (a)

     4,565       4,574,860  

Massachusetts Health & Educational Facilities Authority, Refunding RB, Partners Healthcare System, Series J1, 5.00%, 7/01/39

     1,640       1,738,892  
    

 

 

 
               13,705,900  
Michigan — 4.9%  

City of Detroit Michigan Sewage Disposal System, Refunding RB, Senior Lien, Series A, 5.25%, 7/01/39

     8,995       9,996,143  

Kalamazoo Hospital Finance Authority, Refunding RB, Bronson Methodist Hospital:

    

5.50%, 5/15/20 (b)

     1,545       1,729,597  

5.50%, 5/15/36

     1,250       1,367,350  

Michigan Finance Authority, Refunding RB:

    

Detroit Water & Sewage Department Project, Senior Lien, Series C-1, 5.00%, 7/01/44

     1,830       1,989,119  

Henry Ford Health System, 4.00%, 11/15/46

     3,015       3,045,210  

Michigan State Hospital Finance Authority, Refunding RB, Henry Ford Health System, 5.75%, 11/15/19 (b)

     6,085       6,731,836  

Royal Oak Hospital Finance Authority, Refunding RB, William Beaumont Hospital, Series V, 8.00%, 9/01/18 (b)

     2,000       2,152,040  
Municipal Bonds    Par
(000)
    Value  
Michigan (continued)  

Royal Oak Michigan Hospital Finance Authority, Refunding RB, William Beaumont Hospital, Series V, 8.25%, 9/01/18 (b)

   $ 6,365     $ 6,865,925  
    

 

 

 
               33,877,220  
Mississippi — 0.0%  

University of Southern Mississippi, RB, Campus Facilities Improvements Project, 5.38%, 9/01/19 (b)

     280       305,029  
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       578,167  

State of Missouri Health & Educational Facilities Authority, Refunding RB, St. Louis College of Pharmacy Project, 5.50%, 5/01/43

     510       559,337  
    

 

 

 
               1,137,504  
Nebraska — 1.2%  

Central Plains Energy Project Nebraska, RB, Gas Project No. 3:

    

5.25%, 9/01/37

     1,670       1,836,800  

5.00%, 9/01/42

     925       997,113  

County of Sarpy Nebraska Hospital Authority No. 1, Refunding RB, Nebraska Medicine, 4.00%, 5/15/51

     5,100       5,221,329  
    

 

 

 
               8,055,242  
New Jersey — 5.8%  

Casino Reinvestment Development Authority, Refunding RB:

    

5.25%, 11/01/39

     3,490       3,582,799  

5.25%, 11/01/44

     3,180       3,243,091  

County of Essex New Jersey Improvement Authority, RB, AMT, 5.25%, 7/01/45 (a)

     2,250       2,263,163  

New Jersey EDA, RB, AMT:

    

Continental Airlines, Inc. Project, 4.88%, 9/15/19

     1,295       1,362,819  

Continental Airlines, Inc. Project, 5.25%, 9/15/29

     975       1,061,229  

Kapkowski Road Landfill Project, Series B, 6.50%, 4/01/31

     2,500       2,888,625  
 

 

     
                
   BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017    5


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

Municipal Bonds    Par
(000)
    Value  
New Jersey (continued)  

New Jersey State Turnpike Authority, RB:

    

Series A, 5.00%, 1/01/38

   $ 1,355     $ 1,527,519  

Series A, 5.00%, 1/01/43

     1,835       2,060,448  

Series E, 5.00%, 1/01/45

     5,425       6,156,995  

New Jersey Transportation Trust Fund Authority, RB:

    

CAB, Transportation System, Series C (AMBAC), 0.00%, 12/15/35 (c)

     7,395       3,195,232  

Transportation Program, Series AA, 5.00%, 6/15/44

     1,360       1,410,320  

Transportation Program, Series AA, 5.00%, 6/15/44

     2,515       2,597,467  

Transportation System, Series A, 5.50%, 6/15/41

     3,630       3,767,940  

Transportation System, Series B, 5.25%, 6/15/36

     4,990       5,182,414  
    

 

 

 
               40,300,061  
New York — 8.1%  

City of New York New York Transitional Finance Authority Future Tax Secured, RB, Fiscal 2012, Sub-Series E-1, 5.00%, 2/01/42

     4,235       4,755,863  

Counties of New York Tobacco Trust IV, Refunding RB, Settlement Pass-Through Turbo, Series A, 6.25%, 6/01/41 (a)

     3,700       3,805,006  

County of Westchester New York Healthcare Corp., RB, Senior Lien, Series A, 5.00%, 11/01/44

     465       498,613  

Erie Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed, Series A, 5.00%, 6/01/45

     4,070       3,985,263  

Hudson Yards Infrastructure Corp., Refunding RB, 2nd Indenture, Series A, 5.00%, 2/15/39

     1,945       2,281,446  

Metropolitan Transportation Authority, RB, Series B:

    

5.25%, 11/15/38

     4,960       5,830,331  

5.25%, 11/15/39

     1,765       2,072,287  

Metropolitan Transportation Authority, Refunding RB, Dedicated Tax Fund, Series B, 5.00%, 11/15/19 (b)

     4,910       5,362,358  

Metropolitan Transportation Authority Hudson Rail Yards Trust Obligations, Refunding RB, Series A, 5.00%, 11/15/56

     2,230       2,523,000  
Municipal Bonds    Par
(000)
    Value  
New York (continued)  

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     $ 2,687,402  

3 World Trade Center Project, Class 1, 5.00%, 11/15/44 (a)

     8,145       8,821,035  

3 World Trade Center Project, Class 2, 5.15%, 11/15/34 (a)

     705       774,471  

3 World Trade Center Project, Class 2, 5.38%, 11/15/40 (a)

     1,760       1,952,667  

New York Transportation Development Corp., ARB, LaGuardia Airport Terminal B Redevelopment Project, Series A, AMT, 5.25%, 1/01/50

     1,525       1,672,620  

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       2,949,502  

6.00%, 12/01/42

     1,485       1,664,848  

Port Authority of New York & New Jersey, Refunding RB, Consolidated, 205th Series, 5.00%, 11/15/47 (g)

     3,925       4,627,967  
    

 

 

 
               56,264,679  
North Carolina — 1.1%  

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       1,229,866  

North Carolina Medical Care Commission, RB, Health Care Facilities, Duke University Health System, Series A, 5.00%, 6/01/19 (b)

     2,000       2,147,040  

North Carolina Medical Care Commission, Refunding RB, 1st Mortgage:

    

Aldersgate, 6.25%, 7/01/35

     2,970       3,289,186  
 

 

     
                
6    BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017   


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

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     $ 1,332,646  
    

 

 

 
               7,998,738  
Ohio — 1.9%  

Buckeye Tobacco Settlement Financing Authority, RB, Asset-Backed, Senior Turbo Term, Series A-2, 5.88%, 6/01/47

     2,015       1,898,170  

County of Allen Ohio Hospital Facilities, Refunding RB, Mercy Health, Series A, 4.00%, 11/01/44

     4,160       4,281,223  

County of Franklin Ohio, RB:

    

Health Care Facilities Improvement, OPRS Communities Obligation Group, Series A, 6.13%, 7/01/40

     1,380       1,530,434  

Trinity Health Credit Group, Series 2017, 5.00%, 12/01/46

     840       950,754  

County of Montgomery Ohio, Refunding RB, Catholic Health:

    

5.00%, 5/01/19 (b)

     990       1,059,112  

Series A, 5.00%, 5/01/39

     1,850       1,912,863  

State of Ohio, RB, Portsmouth Bypass Project, AMT, 5.00%, 6/30/53

     1,685       1,830,331  
    

 

 

 
               13,462,887  
Pennsylvania — 2.7%  

Allentown Neighborhood Improvement Zone Development Authority, Refunding RB, Series A, 5.00%, 5/01/42

     5,250       5,504,835  

City of Philadelphia Pennsylvania Hospitals & Higher Education Facilities Authority, RB, Temple University Health System, Series A, 5.63%, 7/01/42

     1,325       1,424,229  

Pennsylvania Economic Development Financing Authority, RB:

    

Aqua Pennsylvania, Inc. Project, Series B, 5.00%, 11/15/40

     3,805       4,095,207  

Pennsylvania Bridge Finco LP, AMT, 5.00%, 6/30/42

     1,765       1,960,527  
Municipal Bonds    Par
(000)
    Value  
Pennsylvania (continued)  

Pennsylvania Economic Development Financing Authority, Refunding RB, National Gypsum Co., AMT, 5.50%, 11/01/44

   $ 3,210     $ 3,444,426  

Pennsylvania Turnpike Commission, RB, Series A, 5.00%, 12/01/44

     2,305       2,580,586  
    

 

 

 
               19,009,810  
Puerto Rico — 1.1%  

Children’s Trust Fund, Refunding RB, Tobacco Settlement Asset-Backed Bonds:

    

5.50%, 5/15/39

     3,870       3,838,266  

5.63%, 5/15/43

     3,690       3,620,739  
    

 

 

 
               7,459,005  
Rhode Island — 2.8%  

Central Falls Detention Facility Corp., Refunding RB, 7.25%, 7/15/35 (d)(e)

     4,155       1,025,163  

Tobacco Settlement Financing Corp., Refunding RB, Series B:

    

4.50%, 6/01/45

     8,215       8,268,480  

5.00%, 6/01/50

     9,875       10,138,267  
    

 

 

 
               19,431,910  
South Carolina — 4.3%  

State of South Carolina Ports Authority, RB:

    

5.25%, 7/01/40

     6,695       7,303,442  

AMT, 5.25%, 7/01/55

     2,690       3,024,044  

State of South Carolina Public Service Authority, RB, Santee Cooper, Series A, 5.50%, 12/01/54

     8,090       9,153,188  

State of South Carolina Public Service Authority, Refunding RB, Series E, 5.25%, 12/01/55

     9,550       10,679,287  
    

 

 

 
               30,159,961  
Tennessee — 0.7%  

City of Chattanooga Health Educational & Housing Facility Board, RB, Catholic Health Initiatives, Series A, 5.25%, 1/01/45

     2,855       3,017,192  

County of Hardeman Tennessee Correctional Facilities Corp., RB, 7.75%, 8/01/17

     585       585,000  
 

 

     
                
   BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017    7


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

Municipal Bonds    Par
(000)
    Value  
Tennessee (continued)  

Metropolitan Government of Nashville & Davidson County Health & Educational Facilities Board, RB, Vanderbilt University Medical Center, Series A, 5.00%, 7/01/40

   $ 1,440     $ 1,627,733  
    

 

 

 
               5,229,925  
Texas — 6.2%  

Central Texas Regional Mobility Authority, Refunding RB:

    

Senior Lien, 6.25%, 1/01/21 (b)

     4,365       5,103,907  

Sub-Lien, 5.00%, 1/01/33

     725       789,786  

City of Dallas Texas Waterworks & Sewer System Revenue, Refunding RB, 5.00%, 10/01/20 (b)

     1,415       1,586,498  

City of Houston Texas Airport System, RB, AMT, Series B-1, 5.00%, 7/15/30

     3,600       3,901,860  

City of Houston Texas Airport System, Refunding ARB:

    

Senior Lien, Series A, 5.50%, 7/01/39

     3,100       3,223,008  

United Airlines, Inc. Terminal E Project, AMT, 5.00%, 7/01/29

     2,200       2,364,032  

Clifton Higher Education Finance Corp., RB, Idea Public Schools, 6.00%, 8/15/43

     1,525       1,753,247  

County of Harris Texas Cultural Education Facilities Finance Corp., RB, 1st Mortgage, Brazos Presbyterian Homes, Inc. Project, Series B:

    

7.00%, 1/01/23 (b)

     485       625,315  

6.38%, 1/01/33

     460       521,861  

County of Matagorda Texas Navigation District No. 1, Refunding RB, Central Power & Light Co., Project, Series A, 6.30%, 11/01/29

     4,320       4,793,342  

La Vernia Higher Education Finance Corp., RB, Kipp, Inc., Series A, 6.38%, 8/15/19 (b)

     1,000       1,106,230  

North Texas Tollway Authority, RB, CAB, Special Project System, Series B, 0.00%, 9/01/37 (c)

     4,110       1,632,204  

North Texas Tollway Authority, Refunding RB, Series A, 5.00%, 1/01/38

     1,910       2,171,804  
Municipal Bonds    Par
(000)
    Value  
Texas (continued)  

Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien:

    

LBJ Infrastructure Group LLC, 7.00%, 6/30/40

   $ 6,000     $ 6,822,120  

NTE Mobility Partners LLC, North Tarrant Express Managed Lanes Project, 6.88%, 12/31/39

     6,255       6,999,283  
    

 

 

 
               43,394,497  
Utah — 0.3%  

Salt Lake City Corp. Airport Revenue, ARB, Series A, AMT, 5.00%, 7/01/47

     1,920       2,197,594  
Virginia — 2.1%  

County of Fairfax Virginia IDA, Refunding RB, Health Care-Inova Health:

    

5.50%, 5/15/19 (b)

     2,195       2,371,610  

5.50%, 5/15/35

     4,075       4,368,318  

Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings OpCo LLC Project, AMT:

    

5.25%, 1/01/32

     3,270       3,624,435  

6.00%, 1/01/37

     3,900       4,419,597  
    

 

 

 
               14,783,960  
Washington — 3.0%  

Central Puget Sound Regional Transit Authority, RB, Series A (AGM), 5.00%, 11/01/17 (b)

     3,895       3,935,703  

Port of Seattle Washington, RB, Series C, AMT:

    

Intermediate Lien, 5.00%, 5/01/42 (g)

     3,120       3,579,046  

5.00%, 4/01/40

     1,565       1,748,308  

State of Washington, GO, Series D, 5.00%, 2/01/42

     5,430       6,375,906  

Washington Health Care Facilities Authority, RB, Catholic Health Initiatives, Series A, 5.75%, 1/01/45

     4,745       5,223,201  
    

 

 

 
               20,862,164  
Wisconsin — 3.6%  

State of Wisconsin, Refunding RB, Series A, 6.00%, 5/01/19 (b)

     14,300       15,550,964  
 

 

     
                
8    BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017   


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

Municipal Bonds    Par
(000)
    Value  
Wisconsin (continued)  

State of Wisconsin Health & Educational Facilities Authority, RB, Ascension Health Senior Credit Group, Series E, 5.00%, 11/15/33

   $ 4,970     $ 5,361,139  

Wisconsin Health & Educational Facilities Authority, Refunding RB, Medical College of Wisconsin, Inc., 4.00%, 12/01/46

     3,790       3,908,210  
    

 

 

 
               24,820,313  
Wyoming — 1.1%  

County of Sweetwater Wyoming, Refunding RB, Idaho Power Co. Project, Remarketing, 5.25%, 7/15/26

     6,195       6,706,707  

Wyoming Municipal Power Agency, Inc., RB, Series A, 5.00%, 1/01/19 (b)

     595       629,088  
    

 

 

 
               7,335,795  
Total Municipal Bonds — 114.7%       800,679,977  
    
                  

Municipal Bonds Transferred to

Tender Option Bond Trusts (h)

 
Alabama — 0.5%  

Auburn University, Refunding RB, Series A, 4.00%, 6/01/41

     3,560       3,757,865  
California — 8.8%  

Bay Area Toll Authority, Refunding RB, San Francisco Bay Area, Series F-1, 5.63%, 4/01/29 (b)

     6,582       7,095,066  

California Educational Facilities Authority, RB, University of Southern California, Series B, 5.25%, 10/01/18 (b)(i)

     5,310       5,580,598  

City & County of San Francisco California Public Utilities Commission, RB, Water Revenue, Series B, 5.00%, 11/01/19 (b)

     19,080       20,804,832  

City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport, Senior Series A, 5.00%, 5/15/40

     11,973       13,172,110  

Los Angeles Community College District California, GO, Election of 2001, Series A (AGM), 5.00%, 8/01/18 (b)

     4,650       4,650,000  

Municipal Bonds Transferred to

Tender Option Bond Trusts (h)

   Par
(000)
    Value  
California (continued)  

Sacramento Area Flood Control Agency, Refunding, Consolidated Capital Assessment District No. 2, Series A, 5.00%, 10/01/47

   $ 6,494     $ 7,560,905  

San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/19 (b)

     2,154       2,338,310  
    

 

 

 
               61,201,821  
Colorado — 3.6%  

Colorado Health Facilities Authority, RB, Catholic Health (AGM) (b):

    

Series C-3, 5.10%, 4/29/18

     7,490       7,725,111  

Series C-7, 5.00%, 5/01/18

     4,800       4,948,176  

Colorado Health Facilities Authority, Refunding RB, Catholic Health Initiatives, Series A, 5.50%, 7/01/34 (i)

     4,299       4,467,163  

County of Adams Colorado, COP, Refunding, 4.00%, 12/01/45

     7,820       8,123,181  
    

 

 

 
               25,263,631  
Florida — 1.8%  

County of Miami-Dade Florida, RB, Water & Sewer System, 5.00%, 10/01/34

     11,448       12,681,711  
Georgia — 1.0%  

Private Colleges & Universities Authority, Refunding RB, Emory University, Series C, 5.00%, 9/01/18 (b)

     6,398       6,682,243  
Massachusetts — 0.8%  

Massachusetts School Building Authority, RB, Senior, Series B, 5.00%, 10/15/41

     4,607       5,214,724  
New Hampshire — 0.6%  

New Hampshire Health & Education Facilities Authority, RB, Dartmouth College, 5.25%, 6/01/19 (b)(i)

     4,049       4,365,001  
New York — 9.3%  

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

     3,195       3,447,085  

Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (i)

     3,260       3,767,540  
 

 

     
                
   BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017    9


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

Municipal Bonds Transferred to

Tender Option Bond Trusts (h)

   Par
(000)
    Value  
New York (continued)  

Metropolitan Transportation Authority, Refunding RB, Series C-1, 5.25%, 11/15/56

   $ 9,939     $ 11,572,424  

New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43

     21,629       24,519,018  

New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.75%, 11/15/51 (i)

     13,081       15,098,368  

Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55

     5,400       6,281,496  
    

 

 

 
               64,685,931  
North Carolina — 1.3%  

North Carolina Capital Facilities Finance Agency, Refunding RB:

    

Duke University Project, Series B, 5.00%, 10/01/55

     5,290       6,046,946  

Wake Forest University, 5.00%, 1/01/19 (b)

     3,120       3,297,809  
    

 

 

 
               9,344,755  
Ohio — 4.2%  

State of Ohio, Refunding RB, Cleveland Clinic Health System Obligated Group, Series A, 5.50%, 1/01/39

     27,896       29,534,549  
Pennsylvania — 0.8%  

Pennsylvania Turnpike Commission, RB, Sub-Series A, 5.50%, 12/01/42

     4,877       5,780,382  
Texas — 4.2%  

City of San Antonio Texas Public Service Board, RB, Electric & Gas Systems, Junior Lien, 5.00%, 2/01/43

     5,060       5,748,059  

County of Harris Texas Metropolitan Transit Authority, Refunding RB, Series A, 5.00%, 11/01/41

     6,920       7,781,125  

University of Texas, Refunding RB, Financing System, Series B, 5.00%, 8/15/43

     6,243       7,081,087  

Municipal Bonds Transferred to

Tender Option Bond Trusts (h)

   Par
(000)
    Value  
Texas (continued)  

University of Texas, Permanent University Fund, Refunding RB, Series B, 4.00%, 7/01/41

   $ 7,900     $ 8,507,510  
    

 

 

 
               29,117,781  
Utah — 1.1%  

City of Riverton Utah, RB, IHC Health Services, Inc., 5.00%, 8/15/41

     7,303       7,762,675  
Virginia — 2.5%  

University of Virginia, Refunding RB, GO, 5.00%, 6/01/18 (b)

     10,618       10,981,979  

Virginia Small Business Financing Authority, Refunding RB, Sentara Healthcare, 5.00%, 11/01/40

     6,075       6,563,802  
    

 

 

 
               17,545,781  
Wisconsin — 1.8%  

Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert & Community Health, Inc., Obligated Group, Series C, 5.25%, 4/01/19 (b)(i)

     11,456       12,264,927  
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 42.3%              295,203,777  
Total Long-Term Investments
(Cost — $1,014,302,257) — 157.0%
             1,095,883,754  
    
                  
Short-Term Securities    Shares         

BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.64% (j)(k)

     20,460,127       20,468,311  
Total Short-Term Securities
(Cost — $20,466,508) — 2.9%
             20,468,311  

Total Investments (Cost — $1,034,768,765*) — 159.9%

 

    1,116,352,065  

Liabilities in Excess of Other Assets — (0.2)%

 

    (1,743,531

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (23.7)%

 

    (165,470,195

VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (36.0)%

 

    (251,020,517
    

 

 

 

Net Assets Applicable to Common Shares — 100.0%

 

  $ 698,117,822  
    

 

 

 
 

 

     
                
10    BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017   


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

*   As of July 31, 2017, gross unrealized appreciation and depreciation based on cost for U.S. federal income tax purposes were as follows:

 

Tax cost

  $ 869,917,947  
 

 

 

 

Gross unrealized appreciation

  $ 87,174,861  

Gross unrealized depreciation

    (5,926,656
 

 

 

 

Net unrealized appreciation

  $ 81,248,205  
 

 

 

 
 
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.

 

(c)   Zero-coupon bond.

 

(d)   Issuer filed for bankruptcy and/or is in default.

 

(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)   When-issued security.

 

(h)   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.

 

(i)   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 May 7, 2018 to November 15, 2019, is $23,445,917.

 

(j)   During the period ended July 31, 2017, investments in issuers considered to an affiliate 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,
2017
       Net
Activity
       Shares Held
at July 31,
2017
       Value at
July 31,
2017
       Income        Net Realized
Gain
       Change in
Unrealized
Appreciation
 

BlackRock Liquidity Funds, MuniCash, Institutional Class

    1,666,834          18,793,293          20,460,127        $ 20,468,311        $ 2,291        $ 1,017        $ 1,636  

 

(k)   Current yield as of period end.

 

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

             

5-Year U.S. Treasury Note

    (60      September 2017      $ 7,089     $ (639

10-Year U.S. Treasury Note

    (108      September 2017      $ 13,596       2,828  

Long U.S. Treasury Bond

    (108      September 2017      $ 16,521       (44,026

Ultra U.S. Treasury Bond

    (45      September 2017      $ 7,403       (61,121

Total

 

  $ (102,958
             

 

 

 

 

     
                
   BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017    11


Schedule of Investments (continued)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

Portfolio Abbreviations

 

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              
COP    Colombian Peso              
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              

 

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. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (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. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.

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 annual report.

 

     
                
12    BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017   


Schedule of Investments (concluded)

  

BlackRock MuniYield Fund, Inc. (MYD)

 

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

              $ 1,095,883,754       $ 1,095,883,754  

Short-Term Securities

     $ 20,468,311                  20,468,311  
    

 

 

 

Total

     $ 20,468,311        $ 1,095,883,754       $ 1,116,352,065  
    

 

 

 
             
Derivative Financial Instruments2  

Assets:

 

Interest rate contracts

     $ 2,828                $ 2,828  

Liabilities:

 

Interest rate contracts

       (105,786                (105,786
    

 

 

 

Total

     $ (102,958              $ (102,958
    

 

 

 

1    See above Schedule of Investments for values in each state or political subdivision.

     

2    Derivative financial instruments are futures contracts which 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 disclosure hierarchy as follows:

 

             
        Level 1        Level 2     Level 3   Total  

Liabilities:

 

TOB Trust Certificates

              $ (165,185,913     $ (165,185,913

VRDP Shares at Liquidation Value

                (251,400,000       (251,400,000
    

 

 

 

Total

              $ (416,585,913     $ (416,585,913
    

 

 

 
             
During the period ended July 31, 2017, there were no transfers between levels.  

 

     
                
   BLACKROCK MUNIYIELD FUND, INC.    JULY 31, 2017    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: September 25, 2017

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: September 25, 2017

 

By:   /s/ Neal J. Andrews

Neal J. Andrews

Chief Financial Officer (principal financial officer) of

BlackRock MuniYield Fund, Inc.

Date: September 25, 2017