NPORT-EX 1 NPORT_11106770677594496.htm BlackRock MuniYield Quality Fund

Schedule of Investments  (unaudited)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds — 114.5%

 

Alabama — 0.3%  

Homewood Educational Building Authority, Refunding RB, Educational Facilities, Samford University, Series A, 5.00%, 12/01/34

   $ 1,145     $ 1,349,646  
   

 

 

  
Alaska — 1.2%  

Alaska Industrial Development & Export Authority, RB, Providence Health Services, Series A, 5.50%, 10/01/41

     1,400       1,504,314  

Borough of Matanuska-Susitna Alaska, RB, Goose Creek Correctional Center (AGC), 6.00%, 09/01/19(a)

     4,425       4,442,257  
   

 

 

  
      5,946,571  
Arizona — 0.6%  

County of Maricopa Arizona IDA, Refunding RB, HonorHealth, Series A, 5.00%, 09/01/36

     880       1,054,583  

State of Arizona, COP, Department of Administration, Series A (AGM):

    

5.00%, 10/01/27

     1,525       1,534,394  

5.25%, 10/01/28

     250       251,643  
   

 

 

  
      2,840,620  
California — 16.2%  

Cabrillo Community College District, GO, CAB, Election of 2004, Series B (NPFGC), 0.00%, 08/01/38(b)

     7,405       2,977,180  

California Health Facilities Financing Authority, RB, Sutter Health, Series B, 5.88%, 08/15/20(a)

     1,500       1,575,870  

California Health Facilities Financing Authority, Refunding RB, Kaiser Permanente, Sub-Series A-2, 5.00%, 11/01/47

     1,770       2,588,944  

California Statewide Communities Development Authority, RB, Kaiser Permanente, Series A, 5.00%, 04/01/42

     2,000       2,181,440  

California Statewide Communities Development Authority, Refunding RB, John Muir Health, Series A, 4.00%, 12/01/53

     1,325       1,371,401  

Carlsbad California Unified School District, GO, Election of 2006, Series B, 6.00%, 05/01/34

     5,000       6,110,750  

City of San Jose California, Refunding ARB, Norman Y Mineta San Jose International Airport SJC, AMT,:

    

Series A, 5.00%, 03/01/36

     565       672,926  

Series A, 5.00%, 03/01/37

     620       735,128  

Series A-1, 5.75%, 03/01/34

     1,150       1,223,715  
Security   Par
(000)		     Value  
California (continued)  

County of San Joaquin California Transportation Authority, Refunding RB, Limited Tax, Measure K, Series A, 6.00%, 03/01/21(a)

   $ 900     $ 970,623  

Golden State Tobacco Securitization Corp., Refunding RB, Series A-1, 3.50%, 06/01/36

     2,015       2,041,920  

Grossmont California Union High School District, GO, CAB, Election of 2004, 0.00%, 08/01/31(b)

     5,000       3,811,400  

Grossmont-Cuyamaca Community College District, GO, Refunding, CAB, Election of 2002, Series C (AGC), 0.00%, 08/01/30(b)

     10,030       7,855,697  

Hartnell Community College District California, GO, CAB, Election of 2002, Series D,
7.00%, 08/01/34(c)

     4,125       4,816,144  

Mount San Antonio Community College District, GO, Refunding, CAB, Election of 2008, Series A, 6.25%, 08/01/43(c)

     1,945       1,888,770  

Poway Unified School District, GO, Refunding, CAB, School Facilities Improvement, Election of 2008, Series B, 0.00%, 08/01/36(b)

     5,000       3,172,650  

Rio Hondo Community College District California, GO, CAB, Election of 2004, Series C, 0.00%, 08/01/37(b)

     4,005       2,376,847  

San Bernardino Community College District, GO, CAB, Election of 2008, Series B, 6.38%, 08/01/34

     10,000       12,592,800  

San Diego California Unified School District, GO, Election of 2008,(b):

    

CAB, Series C, 0.00%, 07/01/38

     2,200       1,276,858  

CAB, Series G, 0.00%, 07/01/34

     900       467,910  

CAB, Series G, 0.00%, 07/01/35

     950       463,781  

CAB, Series G, 0.00%, 07/01/36

     1,430       656,027  

CAB, Series G, 0.00%, 07/01/37

     950       410,381  

San Diego California Unified School District, GO, Refunding, CAB, Series R-1, 0.00%, 07/01/31(b)

     1,725       1,307,032  

San Marcos Unified School District, GO, Election of 2010, Series A(a):

    

5.00%, 08/01/21

     900       971,595  

5.00%, 08/01/21

     760       820,458  

State of California, GO, 5.50%, 04/01/28

     5       5,019  

State of California, GO, Refunding, Various Purposes:

    

5.00%, 09/01/41

     2,300       2,457,366  

5.00%, 10/01/41

     1,300       1,390,779  

State of California, GO, 5.00%, 04/01/42

     1,500       1,628,160  
 

 

 

     1  

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
California (continued)  

Yosemite Community College District, GO, CAB, Election of 2004, Series D, 0.00%, 08/01/36(b)

   $ 15,000     $ 9,255,000  
   

 

 

  
      80,074,571  
Colorado — 1.2%  

City & County of Denver Colorado, COP, Colorado Convention Center Expansion Project, Series A, 4.00%, 06/01/48

     1,725       1,869,986  

Colorado Health Facilities Authority, RB, Adventist Health System/Sunbelt Obligated Group, Series A, 4.00%, 11/15/46

     1,485       1,585,074  

Regional Transportation District, COP, Refunding, Series A, 5.38%, 06/01/31

     1,885       1,946,263  

Regional Transportation District, COP, Series A, 5.00%, 06/01/39

     540       600,172  
   

 

 

  
      6,001,495  
Connecticut — 1.0%  

Connecticut Housing Finance Authority, Refunding RB, S/F Housing,:

    

Sub-Series A-1, 3.85%, 11/15/43

     520       546,307  

Sub-Series E-1 (Ginnie Mae, Fannie Mae & Freddie Mac), 4.00%, 05/15/36

     1,060       1,132,886  

Series A-1, 3.80%, 11/15/39

     640       677,523  

Series B-1, 3.30%, 11/15/39

     640       655,994  

Sub-Series B-1, 4.00%, 05/15/45

     965       1,019,310  

State of Connecticut, GO, Series C, 5.00%, 06/15/32

     840       1,027,034  
   

 

 

  
      5,059,054  
Florida — 11.5%  

County of Brevard Florida Health Facilities Authority, Refunding RB, Health First, Inc. Project, 5.00%, 04/01/39

     2,175       2,391,739  

County of Highlands Florida Health Facilities Authority, RB, Adventist Health System/Sunbelt Obligated Group, 6.00%, 11/15/37

     1,250       1,265,425  

County of Lee Florida, Refunding ARB, Series A, AMT:

    

5.63%, 10/01/26

     1,280       1,384,653  

5.38%, 10/01/32

     1,700       1,818,711  

County of Miami-Dade Florida, RB, Seaport Department,:

    

Series A, 6.00%, 10/01/38

     2,755       3,168,140  

Series B, AMT, 6.00%, 10/01/30

     870       1,001,309  

Series B, AMT, 6.25%, 10/01/38

     560       643,138  
Security   Par
(000)		     Value  
Florida (continued)  

Series B, AMT, 6.00%, 10/01/42

   $ 895     $ 1,020,559  

County of Miami-Dade Florida, Refunding ARB, Series A, AMT, 5.00%, 10/01/38

     655       754,213  

County of Miami-Dade Florida Aviation, Refunding ARB,:

    

AMT, 5.00%, 10/01/34

     260       296,460  

Series A, 5.50%, 10/01/19(a)

     6,490       6,536,728  

County of Miami-Dade Florida Aviation Revenue, Refunding ARB, Series A, AMT, 5.00%, 10/01/32

     3,550       3,888,563  

County of Miami-Dade Florida Educational Facilities Authority, RB, University of Miami, Series A, 5.00%, 04/01/40

     3,600       4,093,920  

County of Orange Florida Health Facilities Authority, Refunding RB, Presbyterian Retirement Communities Project:

    

5.00%, 08/01/41

     765       853,855  

5.00%, 08/01/47

     2,225       2,476,492  

County of Orange HFA, RB, S/F Housing, Multi-County Program, Series A (Ginnie Mae, Fannie Mae & Freddie Mac), 3.75%, 09/01/47

     680       721,827  

County of Palm Beach Florida Solid Waste Authority, Refunding RB, Series B:

    

5.00%, 10/01/21(a)

     45       48,717  

5.00%, 10/01/31

     2,780       2,995,561  

County of Putnam Florida Development Authority, Refunding RB, Seminole Project, Series A, 5.00%, 03/15/42

     2,390       2,816,185  

Florida Housing Finance Corp., RB, S/F Housing, Series 1 (Ginnie Mae, Fannie Mae & Freddie Mac), 3.75%, 07/01/42

     1,670       1,766,726  

Florida Ports Financing Commission, Refunding RB, State Transportation Trust Fund, Series B, AMT:

    

5.13%, 06/01/27

     1,395       1,480,541  

5.38%, 10/01/29

     1,900       2,052,456  

Greater Orlando Aviation Authority, RB, Priority Subordinated, AMT,:

    

Series A, 5.00%, 10/01/47

     4,785       5,608,116  

Sub-Series A, 5.00%, 10/01/52

     2,050       2,421,275  

Reedy Creek Improvement District, GO, Series A, 5.25%, 06/01/33

     1,620       1,838,198  
 

 

 

2   

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Florida (continued)  

State of Florida, GO, Department of Transportation, Right-of-Way Acquisition and Bridge Construction Bonds, 4.00%, 07/01/39

   $ 2,840     $ 3,198,351  
   

 

 

  
      56,541,858  
Georgia — 1.1%  

Brookhaven Development Authority, RB, Children’s Helthcare of Atlanta, Series A, 3.00%, 07/01/46(d)

     595       586,801  

County of Gainesville Georgia & Hall Hospital Authority, Refunding RB, Northeast Georgia Health System, Inc. Project, Series A (GTD), 5.50%, 08/15/54

     680       788,474  

County of LaGrange-Troup Hospital Authority, Refunding RB, Revenue Anticipation Certificates, 4.00%, 04/01/47

     1,730       1,820,548  

Main Street Natural Gas, Inc., RB, Series A, 5.00%, 05/15/43

     935       1,096,811  

Private Colleges & Universities Authority, RB, Savannah College of Art & Design:

    

5.00%, 04/01/33

     190       216,915  

5.00%, 04/01/44

     855       960,618  
   

 

 

  
      5,470,167  
Illinois — 14.9%  

City of Chicago Illinois, Refunding ARB, Senior Lien, Series B, 5.00%, 01/01/41

     3,800       4,380,108  

City of Chicago Illinois, Refunding GARB, O’Hare International Airport, Passenger Facility Charge, Series B, AMT, 5.00%, 01/01/31

     2,500       2,686,625  

City of Chicago Illinois Midway International Airport, Refunding ARB, 2nd Lien, Series A, AMT, 5.00%, 01/01/34

     1,475       1,646,218  

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

    

3rd Lien, Series A, 5.75%, 01/01/21(a)

     4,615       4,914,190  

3rd Lien, Series A, 5.75%, 01/01/39

     885       932,471  

Senior Lien, Series D, 5.25%, 01/01/42

     3,985       4,736,013  

City of Chicago Illinois O’Hare International Airport, Refunding GARB, Senior Lien, Series C, AMT, 5.38%, 01/01/39

     4,090       4,491,924  
Security   Par
(000)		     Value  
Illinois (continued)  

City of Chicago Illinois Transit Authority, RB:

    

5.25%, 12/01/49

   $ 710     $ 796,961  

Sales Tax Receipts, 5.25%, 12/01/36

     840       898,590  

County of Cook Illinois Forest Preserve District, GO, Refunding, Limited Tax Project, Series B, 5.00%, 12/15/37

     280       301,479  

Illinois Finance Authority, RB, Carle Foundation, Series A, 5.75%, 08/15/34

     850       915,331  

Illinois Finance Authority, Refunding RB,:

    

Silver Cross Hospital & Medical Centers, Series C, 4.13%, 08/15/37

     1,690       1,746,531  

Silver Cross Hospital & Medical Centers, Series C, 5.00%, 08/15/44

     470       519,040  

University of Chicago Medical Center, Series B, 4.00%, 08/15/41

     1,100       1,168,211  

Illinois Housing Development Authority, RB, S/F Housing, 4.13%, 10/01/38

     1,875       2,042,681  

Illinois Sports Facilities Authority, RB, State Tax Supported (AMBAC), 5.50%, 06/15/30

     17,800       17,824,920  

Metropolitan Pier & Exposition Authority, RB (NPFGC)(b):

    

0.00%, 06/15/30(e)

     800       621,696  

0.00%, 06/15/30

     14,205       10,234,987  

Metropolitan Pier & Exposition Authority, Refunding RB, CAB, McCormick Place Expansion Project, Series B (AGM), 0.00%, 06/15/44(b)

     4,625       1,817,209  

Railsplitter Tobacco Settlement Authority, RB, 6.00%, 06/01/21(a)

     900       979,029  

Regional Transportation Authority, RB, Series B (NPFGC), 5.75%, 06/01/33

     3,200       4,283,904  

State of Illinois, GO:

    

5.25%, 02/01/33

     1,140       1,234,962  

5.50%, 07/01/33

     1,100       1,199,737  

5.25%, 02/01/34

     1,140       1,233,047  

5.50%, 07/01/38

     1,840       1,997,798  
   

 

 

  
      73,603,662  
Indiana — 0.7%  

Indiana Finance Authority, RB, Series A,:

    

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

     1,400       1,498,252  
 

 

 

     3  

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Indiana (continued)  

Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 07/01/44

   $ 690     $ 750,134  

State of Indiana Finance Authority, RB, Private Activity Bond, Ohio River Bridges, Series A, AMT, 5.00%, 07/01/40

     1,190       1,299,206  
   

 

 

  
      3,547,592  
Iowa — 0.9%  

Iowa Finance Authority, RB, Iowa Health Care Facilities, Series A (AGC), 5.63%, 08/15/19(a)

     3,900       3,906,318  

Iowa Student Loan Liquidity Corp., RB, Senior Series A-2, AMT:

    

5.60%, 12/01/26

     170       175,260  

5.70%, 12/01/27

     170       175,285  

5.80%, 12/01/29

     120       123,724  

5.85%, 12/01/30

     155       159,805  
   

 

 

  
      4,540,392  
Louisiana — 2.3%  

City of New Orleans Louisiana Aviation Board, ARB, Series B, AMT, 5.00%, 01/01/40

     2,260       2,523,313  

Jefferson Sales Tax District, RB, Series B (AGM):

    

5.00%, 12/01/34

     330       395,812  

5.00%, 12/01/35

     440       526,737  

5.00%, 12/01/36

     395       472,218  

5.00%, 12/01/37

     495       590,604  

Louisiana Local Government Environmental Facilities & Community Development Authority, RB, East Baton Rouge Sewerage Commission Projects, Series A, 5.00%, 02/01/44

     4,015       4,477,729  

Louisiana Public Facilities Authority, Refunding RB, Ochsner Clinic Foundation Project, 5.00%, 05/15/46

     1,900       2,171,833  
   

 

 

  
      11,158,246  
Maine — 0.9%  

State of Maine Housing Authority, RB,:

    

M/F Housing, Series E, 4.15%, 11/15/38

     1,930       2,071,006  

M/F Housing, Series E, 4.25%, 11/15/43

     1,725       1,847,078  
Security   Par
(000)		     Value  
Maine (continued)  

S/F Housing, Mortgage Purchase Bonds, Series B, 3.35%, 11/15/44

   $ 265     $ 270,878  
   

 

 

  
      4,188,962  
Maryland — 1.2%  

Maryland Community Development Administration, Refunding RB, S/F Housing,:

    

Series A, 4.10%, 09/01/38

     1,580       1,715,801  

Series B, 3.35%, 09/01/42

     1,675       1,693,877  

Maryland Health & Higher Educational Facilities Authority, RB, Medstar Health Issue, Series A, 5.00%, 05/15/42

     2,170       2,542,915  
   

 

 

  
      5,952,593  
Massachusetts — 2.8%  

Massachusetts Development Finance Agency, RB, Emerson College Issue, Series A, 5.00%, 01/01/47

     2,855       3,254,614  

Massachusetts Development Finance Agency, Refunding RB, Partners Health Care System, 4.00%, 07/01/41

     4,450       4,883,252  

Massachusetts HFA, RB, M/F Housing, Series A, 3.85%, 06/01/46

     75       77,930  

Massachusetts HFA, Refunding RB, AMT,:

    

Series A, 4.45%, 12/01/42

     1,090       1,126,896  

Series C, 5.00%, 12/01/30

     810       817,622  

Series C, 5.35%, 12/01/42

     495       502,628  

Massachusetts School Building Authority, RB,:

    

Dedicated Sales Tax, Senior Series A, 5.00%, 05/15/43

     1,720       1,926,538  

Sub-Series B, 4.00%, 02/15/43

     1,025       1,075,512  
   

 

 

  
      13,664,992  
Michigan — 5.2%  

City of Detroit Michigan Water Supply System Revenue, RB, Senior Lien, Series A, 5.25%, 07/01/41

     1,000       1,059,810  

City of Lansing Michigan, RB, Board of Water & Light Utilities System, Series A, 5.50%, 07/01/41

     2,500       2,668,450  

Eastern Michigan University, RB, Series A (AGM), 4.00%, 03/01/44

     840       899,808  
 

 

 

4   

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Michigan (continued)  

Michigan Finance Authority, Refunding RB,:

    

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

   $ 1,600     $ 1,700,608  

Trinity Health Credit Group, 5.00%, 12/01/21(a)

     25       27,204  

Trinity Health Credit Group, Series A, 4.00%, 12/01/40

     4,055       4,394,809  

Michigan State University, Refunding RB, Board of Trustees, Series B, 5.00%, 02/15/48

     865       1,049,565  

Michigan Strategic Fund, RB, I-75 Improvement Project, AMT, 5.00%, 12/31/43

     2,235       2,609,832  

Royal Oak Hospital Finance Authority Michigan, Refunding RB, Beaumont Health Credit Group, Series D, 5.00%, 09/01/39

     1,470       1,639,859  

State of Michigan Building Authority, Refunding RB, Facilities Program,:

    

Series I-A, 5.38%, 10/15/36

     1,200       1,295,556  

Series I-A, 5.38%, 10/15/41

     1,000       1,074,100  

Series II-A (AGM), 5.25%, 10/15/36

     4,270       4,586,919  

State of Michigan Housing Development Authority, RB, S/F Housing, Series C, 4.13%, 12/01/38

     2,010       2,156,549  

Western Michigan University, Refunding RB, General, University and College Improvements (AGM), 5.00%, 11/15/39

     520       584,704  
   

 

 

  
      25,747,773  
Nebraska — 0.2%  

Central Plains Nebraska Energy Project, RB, Gas Project No. 3, 5.25%, 09/01/37

     1,000       1,101,270  
   

 

 

  
Nevada — 0.3%  

County of Clark Nevada, ARB, Las Vegas-McCarran International Airport, Series A, 5.25%, 07/01/42

     1,500       1,520,910  
   

 

 

  
New Hampshire — 0.5%  

New Hampshire Housing Finance Authority, RB, M/F Housing, Cimarron, Whittier Falls & Marshall (FHA), 4.00%, 07/01/52

     2,200       2,285,140  
   

 

 

  
New Jersey — 9.0%  

New Jersey EDA, RB,:

    

Goethals Bridge Replacement Project, AMT, Private Activity Bond, 5.38%, 01/01/43

     1,220       1,359,031  
Security   Par
(000)		     Value  
New Jersey (continued)  

Goethals Bridge Replacement Project, AMT, Private Activity Bond, 5.13%, 01/01/34

   $ 935     $ 1,046,433  

Series WW, 5.25%, 06/15/33

     215       245,268  

Series WW, 5.00%, 06/15/34

     280       314,000  

Series WW, 5.00%, 06/15/36

     1,280       1,429,210  

Series WW, 5.25%, 06/15/40

     490       551,461  

New Jersey EDA, Refunding RB, Sub-Series A, 4.00%, 07/01/32

     470       493,500  

New Jersey Higher Education Student Assistance Authority, Refunding RB, AMT,:

    

Series 1, 5.50%, 12/01/25

     330       349,770  

Series 1, 5.75%, 12/01/27

     160       170,123  

Series 1, 5.75%, 12/01/28

     175       185,873  

Series 1, 5.88%, 12/01/33

     1,980       2,144,399  

Series B, 3.25%, 12/01/39

     3,290       3,296,185  

New Jersey Housing & Mortgage Finance Agency, Refunding RB, M/F Housing, Series 2, AMT, 4.35%, 11/01/33

     1,225       1,277,957  

New Jersey Transportation Trust Fund Authority, RB,:

    

Transportation Program, Series AA, 5.25%, 06/15/33

     2,035       2,255,085  

Transportation Program, Series AA, 5.00%, 06/15/38

     2,440       2,678,486  

Transportation System, CAB, Series A, 0.00%, 12/15/29(b)

     7,530       5,578,375  

Transportation System, Series A, 5.50%, 06/15/41

     1,605       1,689,118  

Transportation System, Series A (NPFGC), 5.75%, 06/15/25

     2,000       2,425,220  

Transportation System, Series AA, 5.50%, 06/15/39

     3,565       3,941,928  

Transportation System, Series B, 5.50%, 06/15/31

     2,750       2,921,600  

Transportation System, Series B, 5.00%, 06/15/42

     725       756,958  

Transportation System, Series D, 5.00%, 06/15/32

     875       982,056  

Tobacco Settlement Financing Corp. New Jersey, Refunding RB,:

    

Series A, 5.00%, 06/01/34

     1,260       1,489,786  

Series A, 5.00%, 06/01/36

     1,855       2,181,591  

Series A, 4.00%, 06/01/37

     1,150       1,215,205  
 

 

 

     5  

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
New Jersey (continued)  

Sub-Series B, 5.00%, 06/01/46

   $ 3,105     $ 3,361,132  
   

 

 

  
      44,339,750  
New Mexico — 0.1%  

New Mexico Hospital Equipment Loan Council, Refunding RB, Presbyterian Healthcare Services, 5.00%, 08/01/44

     500       578,485  
   

 

 

  
New York — 3.2%  

City of New York New York Transitional Finance Authority, RB, Series S-3, 4.00%, 07/15/46

     1,550       1,695,514  

City of New York Transitional Finance Authority, Refunding RB, Future Tax Secured, Series B, 5.00%, 11/01/32

     5,520       6,140,117  

Hudson Yards Infrastructure Corp., RB, Senior, Fiscal 2012:

    

5.75%, 02/15/21(a)

     615       659,421  

5.75%, 02/15/47

     385       406,737  

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

     2,855       3,187,008  

Port Authority of New York & New Jersey, Refunding ARB, AMT,:

    

Consolidated, 186th Series, 5.00%, 10/15/36

     850       972,111  

Consolidated,186th Series, 5.00%, 10/15/44

     1,690       1,923,811  

Series 207, 4.00%, 09/15/43

     630       678,586  

State of New York HFA, RB, M/F Housing, Green Bond, Series B (SONYMA), 3.88%, 11/01/48

     230       239,982  
   

 

 

  
      15,903,287  
Ohio — 0.9%  

County of Butler Ohio, Refunding RB, UC Health, 4.00%, 11/15/37

     635       687,807  

County of Lucas Ohio, Refunding RB, Promedica Healthcare, Series A, 6.50%, 11/15/21(a)

     725       811,297  

Ohio Housing Finance Agency, RB, S/F Housing, Series A (Ginnie Mae, Fannie Mae & Freddie Mac), 4.00%, 09/01/48

     445       469,773  

State of Ohio Turnpike Commission, RB, Junior Lien, Infrastructure Projects, Series A-1:

    

5.25%, 02/15/32

     950       1,068,132  
Security   Par
(000)		     Value  
Ohio (continued)  

5.25%, 02/15/33

   $ 1,325     $ 1,487,471  
   

 

 

  
      4,524,480  
Oklahoma — 0.2%  

City of Oklahoma Turnpike Authority, RB, Series A, 4.00%, 01/01/48

     760       809,970  
   

 

 

  
Oregon — 0.4%  

County of Clackamas Community College District, GO, Convertible Deferred Interest Bonds, Series A, 5.00%, 06/15/39(c)

     605       695,000  

County of Clackamas Oregon School District No. 12 North Clackamas, GO, CAB, Series A, 0.00%, 06/15/38(b)

     1,360       661,586  

State of Oregon Housing & Community Services Department, RB, S/F Housing, Mortgage Program, Series C, 3.95%, 07/01/43

     580       608,588  
   

 

 

  
      1,965,174  
Pennsylvania — 12.0%  

City of Philadelphia Pennsylvania Airport Revenue, Refunding ARB, Series B, AMT, 5.00%, 07/01/47

     2,210       2,579,379  

Commonwealth Financing Authority, RB, Tobacco Master Settlement Payment (AGM), 4.00%, 06/01/39

     1,445       1,576,452  

County of Montgomery Higher Education & Health Authority, Refunding RB, Thomas Jefferson University, Series A, 4.00%, 09/01/49

     1,310       1,412,966  

Pennsylvania Economic Development Financing Authority, RB,:

    

AMT, 5.00%, 06/30/42

     1,420       1,592,530  

PA Bridges Finco LP, AMT, 5.00%, 12/31/34

     3,420       3,924,929  

Pennsylvania Rapid Bridge Replacement, 5.00%, 12/31/38

     11,890       13,508,229  

Pennsylvania Economic Development Financing Authority, Refunding RB, Series A, 4.00%, 11/15/42

     1,305       1,402,222  

Pennsylvania Higher Educational Facilities Authority, Refunding RB, Thomas Jefferson University, Series A, 5.25%, 09/01/50

     4,575       5,199,167  

Pennsylvania Housing Finance Agency, RB, S/F Housing,:

    

Series 127-B, 3.88%, 10/01/38

     1,210       1,285,794  
 

 

 

6   

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Pennsylvania (continued)  

Series 128B, 3.85%, 04/01/38

   $ 2,680     $ 2,871,057  

Series 129, 3.40%, 10/01/49

     2,095       2,127,703  

Pennsylvania Turnpike Commission, RB,:

    

Series A, 5.00%, 12/01/38

     860       989,697  

Series A-1, 5.00%, 12/01/41

     1,125       1,313,978  

Series B, 5.00%, 12/01/40

     440       510,550  

Series C, 5.50%, 12/01/23(a)

     760       899,346  

Series C, 5.00%, 12/01/39

     1,500       1,720,185  

Sub-Series A-1, 5.00%, 12/01/41

     2,725       3,095,191  

Subordinate, Special Motor License Fund, 5.50%, 12/01/20(a)

     6,700       7,085,049  

Subordinate, Special Motor License Fund, 6.00%, 12/01/20(a)

     775       824,639  

Pennsylvania Turnpike Commission, Refunding RB,:

    

Motor Licenced Fund Enhancement, Third Series, 4.00%, 12/01/38

     2,845       3,076,611  

Series A-1, 5.00%, 12/01/40

     1,040       1,196,853  

Philadelphia School District, GO, Refunding, Series F, 5.00%, 09/01/38

     425       492,907  

State Public School Building Authority, RB, The School District of Philadelphia Project, 5.00%, 04/01/32

     500       541,020  
   

 

 

  
      59,226,454  
Rhode Island — 1.6%  

Rhode Island Turnpike & Bridge Authority, Refunding RB, Series A, 5.00%, 10/01/40

     640       754,662  

Tobacco Settlement Financing Corp., Refunding RB, Series B, 4.50%, 06/01/45

     7,180       7,349,592  
   

 

 

  
      8,104,254  
South Carolina — 7.5%  

County of Charleston South Carolina Airport District, ARB, Series A, AMT:

    

5.50%, 07/01/38

     1,500       1,690,440  

5.50%, 07/01/41

     2,725       3,057,777  

South Carolina Jobs EDA, RB, McLeod Health Obligated Group, 5.00%, 11/01/48

     3,090       3,612,272  

South Carolina Jobs EDA, Refunding RB, Series A,:

    

Palmetto Health (AGM), 6.50%, 08/01/21(a)

     320       354,086  

Prisma Health Obligated Group, 5.00%, 05/01/38

     3,395       4,080,824  
Security   Par
(000)		     Value  
South Carolina (continued)  

South Carolina Transportation Infrastructure Bank, RB, Series A, 5.25%, 10/01/19(a)

   $ 2,500     $ 2,517,025  

State of South Carolina Ports Authority, ARB, AMT, 5.00%, 07/01/55

     1,970       2,293,494  

State of South Carolina Ports Authority, RB, AMT, 5.25%, 07/01/50

     3,160       3,635,991  

State of South Carolina Public Service Authority, RB,:

    

Santee Cooper, Series A, 5.50%, 12/01/54

     9,985       11,258,886  

Series E, 5.50%, 12/01/53

     985       1,093,557  

State of South Carolina Public Service Authority, Refunding RB, Santee Cooper, Series B, 5.00%, 12/01/38

     2,850       3,181,996  
   

 

 

  
      36,776,348  
South Dakota — 0.4%  

South Dakota Health & Educational Facilities Authority, Refunding RB, Avera Health Issue, 4.00%, 07/01/37

     1,690       1,809,500  
   

 

 

  
Tennessee — 0.6%  

Greeneville Health & Educational Facilities Board, Refunding RB, Ballad Health Obligation Group, Series A, 4.00%, 07/01/40

     1,130       1,189,540  

Metropolitan Government of Nashville & Davidson County Health & Educational Facilities Board, RB, Vanderbilt University Medical Center, Series A, 5.00%, 07/01/46

     1,700       1,951,260  
   

 

 

  
      3,140,800  
Texas — 9.9%  

Central Texas Turnpike System, RB, Series C, 5.00%, 08/15/42

     1,895       2,111,390  

Central Texas Turnpike System, Refunding RB, Central Texas Turnpike System, 1st Tier, Series A, 5.00%, 08/15/41

     2,330       2,531,918  

City of San Antonio Texas Electric & Gas Revenue, RB, Junior Lien, 5.00%, 02/01/38

     760       840,043  

County of Midland Texas Fresh Water Supply District No. 1, RB, CAB, City of Midland Project, Series A, 0.00%, 09/15/36(b)

     2,870       1,469,096  

County of Tarrant Texas Cultural Education Facilities Finance Corp., Refunding RB, Cook Children’s Medical Center, 5.25%, 12/01/39

     1,100       1,246,553  
 

 

 

     7  

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security

   Par
(000)		     Value  
Texas (continued)  

Dallas Texas Area Rapid Transit, Refunding RB, Series A, 5.00%, 12/01/48

   $ 4,340     $ 4,995,991  

Dallas-Fort Worth International Airport, ARB, Joint Improvement, Series D, AMT:

    

5.00%, 11/01/38

     8,550       9,093,780  

5.00%, 11/01/42

     1,500       1,597,110  

Dallas-Fort Worth International Airport, Refunding ARB, Series F, 5.25%, 11/01/33

     1,325       1,517,125  

Leander ISD, GO, Refunding, CAB, Series D (PSF-GTD), 0.00%, 08/15/38(b)

     4,665       2,131,485  

North Texas Tollway Authority, Refunding RB:

    

4.25%, 01/01/49

     1,675       1,838,899  

1st Tier System, Series A, 6.00%, 01/01/28

     635       636,194  

1st Tier-Series A, 5.00%, 01/01/43

     570       676,824  

Series B, 5.00%, 01/01/40

     1,375       1,516,584  

San Antonio Public Facilities Corp., Refunding RB, Convention Center Refinancing & Expansion Project, CAB(b):

    

0.00%, 09/15/35

     3,180       1,555,910  

0.00%, 09/15/36

     6,015       2,762,328  

0.00%, 09/15/37

     4,305       1,870,953  

Texas Department of Housing & Community Affairs, RB, S/F Housing Mortgage, Series A (Ginnie Mae), 4.25%, 09/01/43

     535       567,999  

Texas Municipal Gas Acquisition & Supply Corp. III, RB, Natural Gas Utility Improvements:

    

5.00%, 12/15/31

     1,600       1,751,456  

5.00%, 12/15/32

     3,620       3,957,348  

Texas Private Activity Bond Surface Transportation Corp., RB, AMT,:

    

Segment 3C Project, 5.00%, 06/30/58(d)

     1,985       2,291,444  

Senior Lien, Blueridge Transportation Group, 5.00%, 12/31/45

     1,745       1,929,987  
   

 

 

  
      48,890,417  
Utah — 0.7%        

City of Salt Lake Corp. Airport Revenue, ARB, Series A, AMT, 5.00%, 07/01/48

     610       714,963  

Salt Lake City Corp. Airport Revenue, ARB, Series A, AMT, 5.00%, 07/01/42

     1,700       1,990,513  

Security

   Par
(000)		     Value  
Utah (continued)        

Utah Housing Corp., RB, S/F Housing, Class III , Series D-2 (FHA), 4.00%, 01/01/36

   $ 840     $ 886,477  
   

 

 

  
      3,591,953  
Virginia — 0.2%        

Virginia Small Business Financing Authority, RB, 95 Express Lanes LLC Project, AMT, 5.00%, 07/01/49

     1,020       1,081,088  
   

 

 

  
Washington — 3.1%        

County of Snohomish Housing Authority, Refunding RB, 4.00%, 04/01/44

     655       700,647  

Port of Seattle Washington, ARB, Series A, AMT, 5.00%, 05/01/43

     2,690       3,154,482  

Port of Seattle Washington, RB, Intermediate Lien, Series C, AMT, 5.00%, 04/01/40

     1,380       1,563,181  

Washington Health Care Facilities Authority, RB,:

    

MultiCare Health System, Remarketing, Series B, 5.00%, 08/15/44

     4,000       4,332,680  

Providence Health & Services, 4.00%, 10/01/45

     965       1,023,421  

Providence Health & Services, Series A, 5.00%, 10/01/39

     1,525       1,556,812  

Providence Health & Services, Series A, 5.25%, 10/01/39

     850       869,125  

Seattle Childrens Hospital, Series A, 5.00%, 10/01/45

     1,785       2,026,368  
   

 

 

  
      15,226,716  
West Virginia — 0.3%        

West Virginia Hospital Finance Authority, RB, Improvement, West Virginia University Health System Obligated Group, Series A, 4.00%, 06/01/51

     1,255       1,338,169  
   

 

 

  
Wisconsin — 1.4%        

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

     1,850       1,868,703  

Wisconsin Housing & Economic Development Authority, RB, M/F Housing, Series A:

    

4.15%, 11/01/48

     2,930       3,130,588  
 

 

 

8   

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security

   Par
(000)		     Value  
Wisconsin (continued)        

4.45%, 05/01/57

   $ 1,575     $ 1,672,146  
   

 

 

  
      6,671,437  
   

 

 

  

Total Municipal Bonds — 114.5%
(Cost — $510,002,809)

 

     564,573,796  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(f)

 

Arizona — 0.5%        

County of Maricopa Industrial Development Authority, RB, Banner Health, Series A, 4.00%, 01/01/41

     2,310       2,519,725  
   

 

 

  
California — 2.3%        

Bay Area Toll Authority, Refunding RB, San Francisco Bay Area Toll Bridge Subordinate, 4.00%, 04/01/47(g)

     5,282       5,686,617  

Los Angeles California Unified School District, GO, Election of 2008, Series B-1, 5.25%, 07/01/42(g)

     2,158       2,660,358  

Los Angeles Community College District California, GO, Refunding, Election of 2008, Series A, 6.00%, 08/01/19(a)

     2,639       2,639,006  

San Diego California Community College District, GO, Election of 2002, 5.25%, 08/01/19(a)

     509       508,637  
   

 

 

  
      11,494,618  
Colorado — 1.0%            

City & County of Denver Colorado Airport System Revenue, Refunding ARB, Subordinate System, Series A, AMT, 5.25%, 12/01/48(g)

     3,194       3,846,922  

Colorado Health Facilities Authority, Refunding RB, Catholic Health Initiatives, Series A, 5.50%, 07/01/34(g)

     1,220       1,222,146  
   

 

 

  
      5,069,068  
Connecticut — 0.4%            

State of Connecticut Health & Educational Facility Authority, Refunding RB, Trinity Health Credit Group, 5.00%, 12/01/45

     1,891       2,195,418  
   

 

 

  
District of Columbia — 0.6%            

District of Columbia, RB, Series A, 5.50%, 12/01/30(g)

     1,319       1,338,149  

Security

   Par
(000)		     Value  
District of Columbia (continued)            

District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2 (FHA), 4.10%, 09/01/39

   $ 1,411     $ 1,528,071  
   

 

 

  
      2,866,220  
Florida — 5.6%        

County of Miami-Dade Florida Transit System, Refunding RB, Sales Tax, 5.00%, 07/01/42

     2,390       2,579,384  

County of Miami-Dade Florida Water & Sewer System, RB, (AGM), 5.00%, 10/01/20(a)

     12,728       13,304,267  

County of Orange Florida School Board, COP, Series A (AGC), 5.50%, 08/01/19(a)

     3,544       3,543,718  

County of Seminole Florida, Refunding RB, Series B (NPFGC), 5.25%, 10/01/31

     6,300       8,219,232  
   

 

 

  
      27,646,601  
Georgia — 0.6%            

Georgia Housing & Finance Authority, Refunding RB, S/F Mortgage Bonds, Series A, 3.70%, 06/01/49

     2,771       2,905,459  
   

 

 

  
Illinois — 3.2%            

City of Chicago Illionis Waterworks, Refunding RB, 2017 2nd Lien, Water Revenue Project (AGM), 5.25%, 11/01/33

     2,850       2,856,328  

State of Illinois Toll Highway Authority, RB,:

    

Series A, 5.00%, 01/01/38

     2,878       3,156,408  

Series A, 5.00%, 01/01/40

     3,721       4,280,223  

Series B, 5.00%, 01/01/40

     1,409       1,632,520  

Series C, 5.00%, 01/01/38

     3,243       3,706,096  
   

 

 

  
      15,631,575  
Kansas — 1.6%            

County of Wyandotte Kansas Unified School District, GO, Series A, 5.50%, 09/01/47

     6,444       7,796,795  
   

 

 

  
Louisiana — 0.5%            

County of St. Louisiana Gasoline & Fuels Tax Revenue, Refunding RB, First Lien, Series A, 4.00%, 05/01/41

     2,085       2,222,297  
   

 

 

  
Maryland — 1.3%            

City of Baltimore Maryland, RB, Wastewater Project, Series A, 5.00%, 07/01/46

     1,485       1,760,229  
 

 

 

     9  

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Maryland (continued)            

City of Baltimore Maryland Water Utility Fund, RB, Sub-Water Projects, Series A, 5.00%, 07/01/41

   $ 3,845     $ 4,560,389  
   

 

 

  
      6,320,618  
Massachusetts — 0.5%            

Commonwealth of Massachusetts, GO, Series A, 5.00%, 03/01/46

     2,022       2,288,601  
   

 

 

  
Michigan — 3.7%            

Michigan Finance Authority, RB, Series A,:

    

Beaumont Health Credit Group, 5.00%, 11/01/44

     2,701       3,081,713  

Mclaren Health Care, 4.00%, 02/15/50

     3,975       4,273,721  

Michigan Finance Authority, Refunding RB, Trinity Health Credit Group, 5.00%, 12/01/39

     9,075       9,704,714  

State of Michigan Building Authority, Refunding RB, Facilities Program, Series I, 5.00%, 10/15/45

     1,180       1,381,001  
   

 

 

  
      18,441,149  
Nebraska — 0.8%            

Nebraska Investment Finance Authority, RB, S/F Housing, Series A (Ginnie Mae, Fannie Mae & Freddie Mac), 3.70%, 03/01/47

     3,921       4,031,747  
   

 

 

  
Nevada — 2.2%            

County of Clark Nevada, GOL, Stadium Improvement, Series A, 5.00%, 06/01/38

     4,202       5,111,253  

Las Vegas Valley Water District Nevada, GO, Refunding, Water Improvement, Series A, 5.00%, 06/01/46

     4,720       5,516,547  
   

 

 

  
      10,627,800  
New Jersey — 2.2%            

County of Hudson New Jersey Improvement Authority, RB, Hudson County Vocational-Technical Schools Project, 5.25%, 05/01/51

     1,120       1,325,262  

New Jersey State Turnpike Authority, Refunding RB,:

    

Series B, 4.00%, 01/01/37

     3,193       3,540,975  

Series G, 4.00%, 01/01/43

     2,957       3,219,361  
Security   Par
(000)		     Value  
New Jersey (continued)            

New Jersey Transportation Trust Fund Authority, RB, Transportation System, Series B, 5.25%, 06/15/36(g)

   $ 2,581     $ 2,717,109  
   

 

 

  
      10,802,707  
New York — 10.1%            

City of New York Housing Development Corp., Refunding RB, Sustainable Neighborhood Bonds, Series A, 4.15%, 11/01/38

     2,990       3,279,731  

City of New York Transitional Finance Authority, BARB, Series S-1, 4.00%, 07/15/42(g)

     2,280       2,361,989  

City of New York Transitional Finance Authority, RB, Future Tax, Sub-Series A-3,
5.00%, 08/01/40(g)

     4,228       5,097,096  

City of New York Water & Sewer System, Refunding RB,:

    

2nd General Resolution, Fiscal 2013, Series CC, 5.00%, 06/15/47

     7,641       8,615,034  

2nd General Resolution, Series FF, 5.00%, 06/15/39

     4,050       4,763,853  

Series DD, 5.00%, 06/15/35

     2,280       2,652,848  

Metropolitan Transportation Authority, RB, Transportation, Sub-Series D-1, 5.25%, 11/15/44

     4,750       5,469,910  

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

     2,057       2,432,761  

Port Authority of New York & New Jersey, RB, 169th Series, AMT, 5.00%, 10/15/34

     10,830       11,584,634  

Port Authority of New York & New Jersey, Refunding ARB, Consolidated, 198th Series, 5.25%, 11/15/56

     3,081       3,730,557  
   

 

 

  
      49,988,413  
Ohio — 1.6%            

Northeast Ohio Regional Sewer District, Refunding RB:

    

4.00%, 11/15/49(g)

     3,210       3,419,581  

4.00%, 11/15/43

     4,007       4,382,934  
   

 

 

  
      7,802,515  
Pennsylvania — 1.6%            

Commonwealth of Pennsylvania, GO, 1st Series, 4.00%, 03/01/36(g)

     4,273       4,752,022  

County of Westmoreland Pennsylvania Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/42

     1,220       1,416,408  
 

 

 

10   

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Pennsylvania (continued)            

Philadelphia Authority for Industrial Development, RB, Childrens Hospital of Philadelphia Project, Series A, 4.00%, 07/01/44

   $ 1,678     $ 1,770,162  
   

 

 

  
      7,938,592  
Rhode Island — 0.4%            

Rhode Island Housing & Mortgage Finance Corp., Refunding RB, S/F Housing, Home Ownership Opportunity Bonds, Series 69-B (Ginnie Mae, Fannie Mae & Freddie Mac), 3.95%, 10/01/43

     1,960       2,077,463  
   

 

 

  
Texas — 4.7%            

City of Houston Texas Community College, GO, Limited Tax, 4.00%, 02/15/43

     2,010       2,086,641  

County of Harris Texas Toll Road Authority, Refunding RB, Senior Lien, Series A, 5.00%, 08/15/43

     1,679       2,023,127  

County of Tarrant Texas Cultural Education Facilities Finance Corp., RB, Baylor Health Care System Project, Series A, 5.00%, 11/15/38

     879       970,282  

County of Tarrant Texas Cultural Education Facilities Finance Corp., Refunding RB, Texas Health Resources System, Series A, 5.00%, 02/15/41

     4,720       5,528,725  

Dallas Fort Worth International Airport, ARB, Series H, AMT, 5.00%, 11/01/37(g)

     4,501       4,800,677  

Howe Independent School District, GO, School Building (PSF-GTD), 4.00%, 08/15/43

     2,985       3,230,516  

San Antonio Public Facilities Corp., Refunding RB, Convention Center Refinancing And Expansion Project, 4.00%, 09/15/42

     2,564       2,672,578  

Texas Department of Housing & Community Affairs, RB, S/F Housing, Series A (Ginnie Mae)(d):

    

3.63%, 09/01/44

     1,114       1,157,504  
Security   Par
(000)		     Value  
Texas (continued)            

3.75%, 09/01/49

   $ 790     $ 821,346  
   

 

 

  
      23,291,396  
Virginia — 0.8%            

Hampton Roads Transportation Accountability Commission, RB, Transportation Fund, Senior Lien, Series A, 5.50%, 07/01/57

     3,079       3,794,154  
   

 

 

  
Washington — 1.7%            

Metropolitan Washington Airports Authority, Refunding ARB, Series A, AMT, 5.00%, 10/01/30

     3,400       3,740,578  

Washington Health Care Facilities Authority, Refunding RB, Seattle Children’s Hospital, Series B, 5.00%, 10/01/38

     3,930       4,768,230  
   

 

 

  
      8,508,808  
Wisconsin — 0.1%            

Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert & Community Health, Inc., Obligated Group, Series A, 5.00%, 04/01/42

     640       694,573  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 48.0%
(Cost — $223,955,850)

 

     236,956,312  
   

 

 

  

Total Long-Term Investments — 162.5%
(Cost — $733,958,659)

 

     801,530,108  
   

 

 

  
     Shares         
Short-Term Securities — 0.1%  

BlackRock Liquidity Funds, MuniCash, Institutional Class, 1.27%(h)(i)

     243,205       243,254  
   

 

 

  

Total Short-Term Securities — 0.1%
(Cost — $243,254)

 

     243,254  
   

 

 

  

Total Investments — 162.6%
(Cost — $734,201,913)

 

     801,773,362  

Other Assets Less Liabilities — 0.3%

 

     1,639,141  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (27.1)%

 

     (133,802,229 ) 

VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (35.8)%

 

     (176,376,961 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 493,233,313  
 

 

 

  
 

 

 

     11  

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

 

 

(a) 

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.

(b) 

Zero-coupon bond.

(c) 

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.

(d) 

When-issued security.

(e) 

Security is collateralized by municipal bonds or U.S. Treasury obligations.

(f) 

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.

(g) 

All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between November 1, 2019 to July 1, 2034, is $23,664,830.

(h) 

Annualized 7-day yield as of period end.

(i) 

During the period ended July 31, 2019, investments in issuers considered to be an affiliate/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
04/30/19		      Net
Activity		      Shares
Held at
07/31/19		      Value at
07/31/19		      Income     

Net
Realized

Gain (Loss) (a)

      Change in
Unrealized
Appreciation
(Depreciation)		  

BlackRock Liquidity Funds, MuniCash, Institutional Class

      487,772        (244,567 )       243,205      $ 243,254      $ 3,268      $ 251      $ —  
           

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a) 

Includes net capital gain distributions, if applicable.

 

 

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
BAM    Build America Mutual Assurance Co.
BARB    Building Aid Revenue Bonds
CAB    Capital Appreciation Bonds
COP    Certificates of Participation
EDA    Economic Development Authority
FHA    Federal Housing Administration
GARB    General Airport Revenue Bonds
GO    General Obligation Bonds
GTD    Guaranteed
HFA    Housing Finance Agency
ISD    Independent School District
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
PSF    Permanent School Fund
RB    Revenue Bonds
S/F    Single-Family
SONYMA    State of New York Mortgage Agency

 

 

12   

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

 

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

 

Description    Number of
Contracts		        Expiration
Date		        Notional
Amount (000)		     Value/
Unrealized
Appreciation
(Depreciation)		  
Short Contracts                               

10-Year U.S. Treasury Note

      34          09/19/19        $ 4,332     $ 9,978  

Long U.S. Treasury Bond

      175          09/19/19          27,229       (286,664 ) 

5-Year U.S. Treasury Note

      63          09/30/19          7,406       2,136  
              

 

 

  
               $ (274,550 ) 
              

 

 

  

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 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 Private Companies. There may not be a secondary market, and/or there are a limited number of investors. 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.

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 Investments(a)

    $ —        $ 801,530,108        $ —        $ 801,530,108  

Short-Term Securities

     243,254          —          —          243,254  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 243,254        $ 801,530,108        $ —        $ 801,773,362  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(b)

 

Assets:

 

Interest rate contracts

   $ 12,114        $ —        $ —        $ 12,114  

Liabilities:

 

Interest rate contracts

     (286,664 )         —          —          (286,664 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ (274,550 )       $ —        $ —        $ (274,550 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

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

 
  (b) 

Derivative financial instruments are futures contracts. Future contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

 

 

     13  

Schedule of Investments  (unaudited) (continued)

July 31, 2019

   

BlackRock MuniYield Quality Fund, Inc. (MQY)

 

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

      Level 1        Level 2        Level 3        Total  

Liabilities:

 

TOB Trust Certificates

   $ —        $ (133,400,099 )       $ —        $ (133,400,099 ) 

VRDP Shares at Liquidation Value

     —          (176,600,000 )         —          (176,600,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ —        $ (310,000,099 )       $ —        $ (310,000,099 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

 

14