NPORT-EX 2 NPORT_8932_5174119686.htm BlackRock MuniYield Quality Fund III

Schedule of Investments (unaudited) 

April 30, 2021

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  

Municipal Bonds

    
Alabama — 0.8%            

Health Care Authority of the City of Huntsville, RB, Series B1, 4.00%, 06/01/45

   $     1,565     $     1,810,204  

Homewood Educational Building Authority, Refunding RB, Series A, 5.00%, 12/01/47

     2,835       3,340,310  

Tuscaloosa County Board of Education, ST, 5.00%, 02/01/43

     2,485       2,947,608  
   

 

 

  
      8,098,122  
Alaska — 0.3%            

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

     2,690       2,746,167  
   

 

 

  
Arizona — 1.3%            

Arizona Industrial Development Authority, RB(a)

    

4.38%, 07/01/39

     810       870,507  

5.00%, 07/01/54

     945       1,028,245  

Series A, 5.00%, 07/01/39

     1,480       1,567,838  

Series A, 5.00%, 07/01/49

     1,675       1,755,165  

Series A, 5.00%, 07/01/54

     1,290       1,345,470  

Industrial Development Authority of the County of Pima, RB, 5.00%, 06/15/47(a)

    2,545       2,602,492  

Industrial Development Authority of the County of Pima, Refunding RB,
5.00%, 06/15/52(a)

    1,620       1,699,639  

Maricopa County Industrial Development Authority, Refunding RB

    

5.00%, 07/01/39(a)

    630       733,125  

5.00%, 07/01/54(a)

    1,420       1,607,326  

Series A, 5.00%, 09/01/42

     435       534,989  
   

 

 

  
      13,744,796  
Arkansas — 0.5%            

Arkansas Development Finance Authority, RB, AMT, 4.50%, 09/01/49(a)

    4,350       4,777,735  
   

 

 

  
California — 8.9%            

California Community Housing Agency, RB, M/F Housing, Series A-2, 4.00%, 08/01/47(a)

    4,795       5,084,810  

California Health Facilities Financing Authority, Refunding RB, Series A, 5.00%, 07/01/37

     2,965       3,241,190  

California State Public Works Board, RB, Series I, 5.00%, 11/01/38

     5,040       5,602,615  

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

     4,030       4,197,205  

Golden State Tobacco Securitization Corp., Refunding RB

    

Series A-1, 5.00%, 06/01/47

     4,910       5,075,467  

Series A-2, 5.00%, 06/01/47

     1,340       1,385,158  

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

    5,110       4,332,871  

Long Beach Unified School District, GO, CAB, Series B, 0.00%, 08/01/34(b)

    5,000       3,946,250  

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

    3,975       4,456,730  

Norman Y Mineta San Jose International Airport SJC, Refunding RB

    

Series A, AMT, 5.00%, 03/01/36

     1,160       1,386,745  

Series A, AMT, 5.00%, 03/01/37

     1,275       1,522,121  

Norwalk-La Mirada Unified School District, Refunding GO, CAB, Series E, (AGC), 0.00%, 08/01/38(b)

    7,620       4,787,189  
Security  

Par

(000)

     Value  
California (continued)            

Poway Unified School District, Refunding GO, CAB(b)

    

0.00%, 08/01/35

   $ 7,820     $     5,889,790  

Series B, 0.00%, 08/01/36

         10,000       7,287,700  

Rio Hondo Community College District, GO, CAB(b)

   

Series C, 0.00%, 08/01/37

     8,000       5,577,920  

Series C, 0.00%, 08/01/38

     12,940       8,758,698  

San Diego Unified School District, GO, CAB, Series G, 0.00%, 01/01/24(d)

    8,765       4,521,655  

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

    3,485       2,986,854  

San Marcos Unified School District, GO, Series A, 5.00%, 08/01/21(d)

    3,400       3,440,084  

State of California, GO, Series 2007-2, (NPFGC-IBC), 5.50%, 04/01/30

     10       10,040  

State of California, Refunding GO 5.00%, 09/01/41

     2,700       2,742,633  

5.00%, 10/01/41

     2,555       2,604,235  

Walnut Valley Unified School District, GO, CAB, Series B, 0.00%, 08/01/36(b)

    6,545       4,457,734  
   

 

 

  
      93,295,694  
Colorado — 2.5%            

Colorado Educational & Cultural Facilities Authority, RB, 5.00%, 03/01/50(a)

    2,530       2,570,784  

Colorado Educational & Cultural Facilities Authority, Refunding RB, Series A, Class A, 5.00%, 10/01/59(a)

    3,365       3,610,679  

Colorado Health Facilities Authority, Refunding RB, Series A, 5.00%, 08/01/44

     7,500       9,233,850  

Denver Convention Center Hotel Authority, Refunding RB, 5.00%, 12/01/36

     1,500       1,725,720  

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

     5,655       6,159,878  

STC Metropolitan District No.2, Refunding GO

    

Series A, 5.00%, 12/01/38

     1,285       1,396,705  

Series A, 5.00%, 12/01/49

     1,000       1,071,000  
   

 

 

  
      25,768,616  
Connecticut — 0.0%            

Connecticut State Health & Educational Facilities Authority, RB, Series A-1, 5.00%, 10/01/54(a)

    390       408,810  
   

 

 

  
Florida — 9.7%            

Brevard County Health Facilities Authority, Refunding RB, 5.00%, 04/01/39

     4,535       5,023,284  

Capital Trust Agency, Inc., RB, Series A, 5.00%, 06/01/55(a)

    1,475       1,532,437  

City of Jacksonville Florida, Refunding RB, Series A, 5.25%, 10/01/42

     4,000       4,908,200  

City Of South Miami Health Facilities Authority, Inc., Refunding RB, 5.00%, 08/15/42

     2,965       3,592,364  

City of Tampa Florida, RB, CAB(b)

   

Series A, 0.00%, 09/01/39

     1,100       619,179  

Series A, 0.00%, 09/01/40

     1,000       538,950  

Series A, 0.00%, 09/01/41

     1,280       655,309  

Series A, 0.00%, 09/01/42

     1,150       562,649  

Series A, 0.00%, 09/01/45

     2,000       854,360  

County of Broward Florida Airport System Revenue, ARB

    

Series A, AMT, 5.00%, 10/01/40

     3,000       3,488,250  

Series A, AMT, 5.00%, 10/01/42

     3,000       3,602,580  
 

 

 

1  

Schedule of Investments (unaudited) (continued)

April 30, 2021

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Florida (continued)            

County of Lee Florida Airport Revenue, Refunding RB

    

Series A, AMT, 5.63%, 10/01/26

   $ 2,600     $ 2,638,922  

Series A, AMT, 5.38%, 10/01/32

     3,440       3,488,607  

County of Miami-Dade Florida Aviation Revenue, Refunding RB

    

AMT, 5.00%, 10/01/34

     530       605,393  

Series B, AMT, 5.00%, 10/01/40

     6,500       7,799,415  

County of Miami-Dade Seaport Department, ARB

    

Series A, 6.00%, 10/01/38

     5,695       6,416,955  

Series B, AMT, 6.00%, 10/01/30

     1,820       2,049,720  

Series B, AMT, 6.25%, 10/01/38

     1,165       1,312,850  

Series B, AMT, 6.00%, 10/01/42

     1,865       2,097,696  

Florida Development Finance Corp., RB(a)

   

AMT, 5.00%, 05/01/29

     1,500       1,620,210  

Series A, AMT, 5.00%, 08/01/29(e)

    595       615,218  

Florida Development Finance Corp., Refunding RB, Series C,
5.00%, 09/15/50(a)

    820       880,860  

Greater Orlando Aviation Authority, ARB, Sub-Series A, AMT, 5.00%, 10/01/42

     4,760       5,688,724  

LT Ranch Community Development District, SAB
4.00%, 05/01/40

     1,415       1,483,656  

4.00%, 05/01/50

     2,000       2,065,700  

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

         14,360       16,397,540  

Miami-Dade County Health Facilities Authority, Refunding RB, 5.00%, 08/01/42

     1,675       2,019,229  

Orange County Health Facilities Authority, Refunding RB

    

5.00%, 08/01/41

     1,550       1,722,453  

5.00%, 08/01/47

     4,590       5,054,875  

Palm Beach County Solid Waste Authority, Refunding RB

    

Series B, 5.00%, 10/01/21(d)

    50       50,997  

Series B, 5.00%, 10/01/31

     3,050       3,110,573  

Parker Road Community Development District, Refunding SAB

    

3.88%, 05/01/40

     900       935,001  

4.10%, 05/01/50

     1,000       1,040,490  

Town of Davie Florida, Refunding RB, 5.00%, 04/01/37

     4,630       5,509,746  

Westside Community Development District, Refunding SAB(a)

   

4.10%, 05/01/37

     640       678,208  

4.13%, 05/01/38

     630       666,584  
   

 

 

  
          101,327,184  
Georgia — 0.5%            

Gainesville & Hall County Hospital Authority, Refunding RB, Series A, (GTD), 5.50%, 08/15/54

     1,405       1,628,142  

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

     1,105       1,328,486  

Private Colleges & Universities Authority, RB
5.00%, 04/01/33

     395       440,883  

5.00%, 04/01/44

     1,775       1,951,116  
   

 

 

  
      5,348,627  
Hawaii — 1.2%            

State of Hawaii Airports System Revenue, ARB, Series A, AMT, 5.00%, 07/01/43

     2,385       2,867,557  
Security  

Par

(000)

     Value  
Hawaii (continued)            

State of Hawaii Airports System Revenue, COP

    

AMT, 5.00%, 08/01/27

   $ 2,000     $ 2,186,180  

AMT, 5.00%, 08/01/28

     1,775       1,939,259  

State of Hawaii Department of Budget & Finance, Refunding RB, AMT, 4.00%, 03/01/37

     5,275       5,809,885  
   

 

 

  
      12,802,881  
Illinois — 13.1%            

Chicago Board of Education, GO

    

Series A, 5.00%, 12/01/36

     3,055       3,778,455  

Series A, 5.00%, 12/01/38

     1,240       1,523,055  

Series A, 5.00%, 12/01/39

     1,115       1,359,174  

Series A, 5.00%, 12/01/40

     2,250       2,728,598  

Series A, 5.00%, 12/01/41

     1,480       1,787,411  

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

     3,035       3,365,694  

Chicago O’Hare International Airport, ARB

    

Series D, AMT, Senior Lien, 5.00%, 01/01/42

     2,865       3,358,210  

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

     8,285       10,020,459  

Chicago O’Hare International Airport, Refunding RB, Series B, AMT, Senior Lien, 5.00%, 01/01/22(d)

    2,425       2,499,229  

Chicago Transit Authority Sales Tax Receipts Fund, RB, 5.25%, 12/01/21(d)

    1,620       1,667,498  

Cook County Community College District No.508, GO, 5.13%, 12/01/38

     3,250       3,524,137  

Cook County Forest Preserve District, Refunding GO, Series B, 5.00%, 12/15/37

     615       643,967  

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

     8,700       8,836,155  

Illinois Finance Authority, Refunding RB 4.00%, 08/15/40

     1,770       2,085,060  

Series C, 5.00%, 08/15/44

     985       1,103,505  

Illinois State Toll Highway Authority, RB, Series A, 5.00%, 01/01/42

     8,540       10,383,444  

Metropolitan Pier & Exposition Authority,
RB, CAB(b)

   

Series A, (NPFGC), 0.00%, 12/15/33

     20,000       14,520,800  

Series A, (NPFGC), 0.00%, 12/15/34

         41,880       29,334,008  

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

    9,430       4,874,461  

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

    1,700       1,707,429  

State of Illinois, GO 5.25%, 07/01/29

     3,160       3,421,206  

5.00%, 05/01/32

     7,500       8,238,225  

5.25%, 02/01/33

     5,860       6,423,849  

5.50%, 07/01/33

     2,235       2,412,861  

5.25%, 02/01/34

     5,360       5,868,182  

5.50%, 07/01/38

     1,200       1,290,192  
   

 

 

  
          136,755,264  
Indiana — 0.7%            

Indiana Finance Authority, RB

    

Series A, 1st Lien, 5.25%, 10/01/38

     2,900       2,958,899  

Series A, AMT, 5.00%, 07/01/40

     2,425       2,604,692  

Series A, AMT, 5.00%, 07/01/44

     1,400       1,497,762  
   

 

 

  
      7,061,353  
Kentucky — 2.1%            

Kentucky Economic Development Finance Authority, RB, Series A, 5.38%, 01/01/23(d)

    1,000       1,086,630  
 

 

 

S C H E D U L E    O F   I N V E S T M E N T S   2

Schedule of Investments (unaudited) (continued)

April 30, 2021

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Kentucky (continued)            

Kentucky Public Energy Authority, RB, Series C-1, 4.00%, 12/01/49(e)

  $     10,125     $     11,409,356  

Kentucky Public Transportation Infrastructure Authority, RB, CAB, Series C,

    

6.60%, 07/01/39(c)

    8,225       9,762,828  
   

 

 

  
      22,258,814  
Louisiana — 1.8%            

Jefferson Sales Tax District, RB

    

Series B, (AGM), 5.00%, 12/01/34

     670       830,934  

Series B, (AGM), 5.00%, 12/01/35

     895       1,108,816  

Series B, (AGM), 5.00%, 12/01/36

     805       996,590  

Series B, (AGM), 5.00%, 12/01/37

     1,005       1,243,577  

Louisiana Local Government Environmental Facilities & Community Development Auth, RB, Series A, Sub Lien, 5.00%, 02/01/24(d)

    8,155       9,225,425  

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

     4,825       5,453,456  
   

 

 

  
      18,858,798  
Massachusetts — 1.2%            

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

     5,950       6,859,339  

Massachusetts Housing Finance Agency, Refunding RB, Series A, AMT, 4.45%, 12/01/42

     2,110       2,240,229  

Massachusetts School Building Authority, RB, Series A, 5.00%, 05/15/23(d)

    3,495       3,837,545  
   

 

 

  
      12,937,113  
Michigan — 4.6%            

Michigan Finance Authority, Refunding RB, 5.00%, 12/01/21(d)

    16,100       16,545,809  

Michigan State Building Authority, Refunding RB(d)

   

Series I-A, 5.38%, 10/15/21

     3,975       4,067,379  

Series II-A, (AGM), 5.25%, 10/15/21

     8,040       8,222,347  

Michigan State University, Refunding RB, Series B, 4.00%, 02/15/39

     2,125       2,522,651  

Michigan Strategic Fund, RB

    

AMT, (AGM), 4.25%, 12/31/38

     2,000       2,313,100  

AMT, 5.00%, 12/31/43

     9,940       12,002,749  

Royal Oak Hospital Finance Authority, Refunding RB, Series D, 5.00%, 09/01/39

     1,330       1,487,499  

Western Michigan University, Refunding RB, (AGM), 5.00%, 11/15/23(d)

    1,080       1,209,146  
   

 

 

  
      48,370,680  
Nebraska — 0.7%            

Central Plains Energy Project, RB, 5.25%, 09/01/37

     6,825       7,269,444  
   

 

 

  

Nevada — 0.1%

    

City of Las Vegas Nevada Special Improvement District No.814, SAB

    

4.00%, 06/01/39

     380       398,761  

4.00%, 06/01/44

     1,065       1,104,277  
   

 

 

  
      1,503,038  

New Jersey — 11.4%

    

New Jersey Economic Development Authority, RB

    

Series DDD, 5.00%, 06/15/42

     590       695,988  

Series WW, 5.25%, 06/15/25(d)

    55       65,924  

Series WW, 5.25%, 06/15/33

     445       522,759  

Series WW, 5.00%, 06/15/34

     570       663,092  

Series WW, 5.00%, 06/15/36

     2,635       3,058,524  

Series WW, 5.25%, 06/15/40

     970       1,112,949  

AMT, 5.13%, 01/01/34

     1,930       2,164,823  
Security  

Par

(000)

     Value  
New Jersey (continued)            

New Jersey Economic Development Authority, RB (continued)

    

AMT, 5.38%, 01/01/43

   $     4,920     $     5,510,449  

New Jersey Economic Development Authority, Refunding RB

    

Series N-1, (AMBAC), 5.50%, 09/01/24

     6,325       7,364,830  

Series N-1, (NPFGC), 5.50%, 09/01/28

     1,685       2,182,530  

New Jersey Higher Education Student Assistance Authority, RB, Series B, AMT, 3.50%, 12/01/39

     4,255       4,513,023  

New Jersey Higher Education Student Assistance Authority, Refunding RB

    

1st Series, AMT, 5.50%, 12/01/25

     450       460,319  

1st Series, AMT, 5.50%, 12/01/26

     645       659,764  

1st Series, AMT, 5.75%, 12/01/28

     70       71,697  

1st Series, AMT, 5.88%, 12/01/33

     6,895       7,097,920  

Series B, AMT, 3.25%, 12/01/39

     7,670       7,964,451  

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

     2,645       2,763,628  

New Jersey Transportation Trust Fund Authority, RB

    

5.00%, 06/15/29

     2,145       2,551,199  

Series A, 5.50%, 06/15/21(d)

    2,980       2,998,208  

Series A, (NPFGC), 5.75%, 06/15/25

     4,000       4,824,680  

Series A, 5.00%, 06/15/28

     4,205       5,009,290  

Series AA, 5.25%, 06/15/33

     4,150       4,556,036  

Series AA, 5.00%, 06/15/38

     3,990       4,453,359  

Series AA, 5.50%, 06/15/39

     5,625       6,181,369  

Series B, 5.00%, 06/15/21(d)

    2,575       2,589,265  

Series B, 5.50%, 06/15/31

     1,000       1,005,950  

Series D, 5.00%, 06/15/32

     1,825       2,097,491  

New Jersey Transportation Trust Fund Authority, RB, CAB(b)

   

Series A, 0.00%, 12/15/35

     10,000       7,006,600  

Series C, (AGC-ICC AMBAC), 0.00%, 12/15/25

     8,550       8,255,794  

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.00%, 06/01/46

     4,000       4,722,800  

Series A, 5.25%, 06/01/46

     11,035       13,268,043  

Sub-Series B, 5.00%, 06/01/46

     2,675       3,135,207  
   

 

 

  
      119,527,961  
New Mexico — 0.2%            

City of Santa Fe New Mexico, RB, Series A, 5.00%, 05/15/49

     540       577,498  

New Mexico Hospital Equipment Loan Council, Refunding RB, Series VIC, 5.00%, 08/01/44

     1,040       1,200,430  
   

 

 

  
      1,777,928  
New York — 8.9%            

City of New York, GO, Series C, 5.00%, 08/01/42

     2,585       3,292,618  

Hudson Yards Infrastructure Corp., RB, 5.75%, 02/15/47

     715       718,332  

Metropolitan Transportation Authority, Refunding RB, Series A-1, 5.25%, 11/15/57

     4,000       4,730,960  

New York City Transitional Finance Authority Future Tax Secured Revenue, RB

    

Sub-Series E-1, 5.00%, 02/01/39

     2,500       3,037,025  

Sub-Series F-1, 5.00%, 05/01/39

     3,360       4,114,992  

Subordinate, 4.00%, 05/01/44

     5,000       5,849,450  

Series C, Subordinate, 4.00%, 05/01/45

     6,500       7,586,345  

Series C-3, Subordinate, 5.00%, 05/01/41

     5,000       6,142,900  
 

 

 

3  

Schedule of Investments (unaudited) (continued)

April 30, 2021

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
New York (continued)            

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

   $ 4,150     $ 4,446,020  

New York Liberty Development Corp., Refunding RB, Series 1, Class 1, 5.00%, 11/15/44(a)

    3,055       3,326,223  

New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/45

     4,550       5,358,580  

New York State Dormitory Authority, Refunding RB

    

Series A, 4.00%, 03/15/41

     6,250       7,433,875  

Series A, 5.00%, 03/15/45

     5,000       6,149,200  

New York State Urban Development Corp., RB, Series A, 5.00%, 03/15/43

     7,500       9,255,000  

New York Transportation Development Corp., ARB, Series A, AMT, 5.25%, 01/01/50

     8,300       9,347,460  

New York Transportation Development Corp., RB

    

AMT, 5.00%, 10/01/35

     1,105       1,397,460  

AMT, 5.00%, 10/01/40

     3,115       3,874,686  

Port Authority of New York & New Jersey, ARB

    

Consolidated, 218th Series, AMT, 5.00%, 11/01/44

     2,500       3,087,150  

Consolidated, 221st Series, AMT, 4.00%, 07/15/40

     3,000       3,499,260  
   

 

 

  
          92,647,536  
Ohio — 4.1%            

American Municipal Power, Inc., Refunding RB

    

Series A, 5.00%, 02/15/38

     2,375       2,825,490  

Series A, 5.00%, 02/15/41

     4,000       4,720,720  

Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55

     13,125       14,742,394  

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

    3,000       3,101,370  

County of Montgomery Ohio, RB,
5.45%, 11/13/23(d)

        11,135       12,603,039  

Ohio Turnpike & Infrastructure Commission, RB

    

Series A-1, Junior Lien, 5.25%, 02/15/32

     1,950       2,128,386  

Series A-1, Junior Lien, 5.25%, 02/15/33

     2,730       2,978,375  
   

 

 

  
      43,099,774  
Oregon — 0.2%            

Clackamas Community College District, GO

    

Series A, 5.00%, 06/15/39

     395       485,337  

Series A, 5.00%, 06/15/40

     420       515,348  

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

    2,800       1,580,320  
   

 

 

  
      2,581,005  
Pennsylvania — 7.4%            

Bucks County Industrial Development Authority, RB

    

4.00%, 07/01/46

     255       279,291  

4.00%, 07/01/51

     150       163,608  

Commonwealth Financing Authority, RB 5.00%, 06/01/34

     2,180       2,680,114  

Series B, 5.00%, 06/01/22(d)

    3,305       3,475,307  

Pennsylvania Economic Development Financing Authority, RB

    

AMT, 5.00%, 12/31/34

     7,115       8,314,447  

AMT, 5.00%, 12/31/38

     6,850       7,964,837  

AMT, 5.00%, 06/30/42

     8,805       10,110,429  

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

     5,000       5,639,700  
Security  

Par

(000)

     Value  
Pennsylvania (continued)            

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

   $ 8,075     $ 9,067,014  

Pennsylvania Turnpike Commission, RB

    

Series A, 5.00%, 12/01/38

     1,775       2,046,717  

Series A-1, 5.00%, 12/01/41

     2,320       2,746,022  

Series B, 5.00%, 12/01/40

     4,920       5,775,785  

Series C, 5.50%, 12/01/23(d)

    1,565       1,775,571  

Sub-Series B-1, 5.00%, 06/01/42

     7,330       8,798,345  

Series A, Subordinate, 5.00%, 12/01/44

     5,000       6,180,700  

Pennsylvania Turnpike Commission, Refunding RB, Series A-1, 5.00%, 12/01/40

     2,165       2,530,214  
   

 

 

  
      77,548,101  
Puerto Rico — 4.3%            

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB

    

Series A-1, Restructured, 4.75%, 07/01/53

     1,334       1,480,967  

Series A-1, Restructured, 5.00%, 07/01/58

     2,007       2,254,684  

Series A-2, Restructured, 4.33%, 07/01/40

     2,372       2,592,643  

Series A-2, Restructured, 4.78%, 07/01/58

     214       238,235  

Series B-1, Restructured, 4.75%, 07/01/53

     1,302       1,441,770  

Series B-1, Restructured, 5.00%, 07/01/58

     15,757       17,702,989  

Series B-2, Restructured, 4.33%, 07/01/40

     12,433       13,591,880  

Series B-2, Restructured, 4.78%, 07/01/58

     1,261       1,399,357  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(b)

    13,457       4,243,127  
   

 

 

  
          44,945,652  
Rhode Island — 1.1%            

Tobacco Settlement Financing Corp., Refunding RB

    

Series B, 4.50%, 06/01/45

     3,000       3,248,970  

Series B, 5.00%, 06/01/50

     7,465       8,343,854  
   

 

 

  
      11,592,824  
South Carolina — 5.8%            

South Carolina Jobs-Economic Development Authority, RB

    

5.00%, 01/01/40(a)

    2,630       2,748,376  

5.00%, 11/01/43

     5,000       6,165,350  

5.00%, 04/01/44

     285       312,286  

4.00%, 04/01/49

     270       276,682  

5.00%, 04/01/49

     765       834,730  

4.00%, 04/01/54

     580       592,673  

5.00%, 04/01/54

     1,385       1,508,487  

South Carolina Jobs-Economic Development Authority, Refunding RB, Series A, (AGM), 6.50%, 08/01/21(d)

    3,600       3,655,368  

South Carolina Ports Authority, ARB

    

AMT, 5.25%, 07/01/25(d)

    6,530       7,772,202  

AMT, 5.00%, 07/01/38

     3,380       4,168,622  

South Carolina Public Service Authority, RB

    

Series A, 5.50%, 12/01/54

         11,450       13,033,535  

Series E, 5.50%, 12/01/53

     4,525       5,056,099  

South Carolina Public Service Authority, Refunding RB

    

Series B, 5.00%, 12/01/38

     5,870       6,517,872  

Series B, (AGM-CR), 5.00%, 12/01/56

     7,155       8,448,624  
   

 

 

  
      61,090,906  
 

 

 

S C H E D U L E    O F   I N V E S T M E N T S   4

Schedule of Investments (unaudited) (continued)

April 30, 2021

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  

Tennessee — 0.5%

    

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Refunding RB, Series A, 5.25%, 10/01/58

   $     4,665     $     5,389,381  
   

 

 

  
Texas — 11.1%            

Central Texas Turnpike System, Refunding RB, Series A, 5.00%, 08/15/22(d)

    11,345       12,045,213  

City of Houston Texas Airport System Revenue, Refunding ARB, AMT, 5.00%, 07/15/27

     710       828,677  

City of Houston Texas Airport System Revenue, Refunding RB

    

Series A, AMT, 5.00%, 07/01/27

     690       804,713  

Series A, AMT, 6.63%, 07/15/38

     1,295       1,309,893  

City of San Antonio Texas Electric & Gas Systems Revenue, RB, Junior Lien, 5.00%, 02/01/23(d)

    1,450       1,571,466  

City of San Antonio Texas Electric & Gas Systems Revenue, Refunding RB, 5.00%, 02/01/42

     7,450       8,970,172  

Dallas Fort Worth International Airport, ARB, Series D, AMT, 5.00%, 11/01/21(d)

    10,980       11,234,846  

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

     2,745       3,064,985  

Grand Parkway Transportation Corp., RB, Series A, 5.00%, 10/01/43

     7,940       9,870,293  

Leander Independent School District, Refunding GO, CAB, Series D, (PSF),
0.00%, 08/15/38(b)

    9,685       4,838,335  

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

    5,810       3,342,086  

New Hope Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 08/15/50(a)

    1,385       1,447,048  

North Texas Tollway Authority, Refunding RB

    

Series A, 5.00%, 01/01/39

     9,080       11,181,294  

Series B, 5.00%, 01/01/40

     1,710       1,834,454  

Series B, 5.00%, 01/01/43

     12,355       14,846,509  

San Antonio Public Facilities Corp., Refunding RB, CAB(b)

   

0.00%, 09/15/35

     680       357,660  

0.00%, 09/15/36

     12,195       6,047,013  

0.00%, 09/15/37

     8,730       4,075,513  

Tarrant County Cultural Education Facilities Finance Corp., RB, Series B, 5.00%, 07/01/34

     5,000       6,276,250  

Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, 5.25%, 12/01/39

     2,095       2,342,126  

Texas City Industrial Development Corp., RB, Series 2012, 4.13%, 12/01/45

     820       889,290  

Texas Private Activity Bond Surface Transportation Corp., RB, AMT, Senior Lien, 5.00%, 12/31/45

     3,630       4,117,436  

Texas Water Development Board, RB, Series B, 4.00%, 10/15/43

     4,315       5,086,436  
   

 

 

  
      116,381,708  
Utah — 1.2%            

Salt Lake City Corp. Airport Revenue, ARB

    

Series A, AMT, 5.00%, 07/01/37

     3,475       4,236,894  

Series A, AMT, 5.00%, 07/01/42

     3,490       4,138,268  

Series A, AMT, 5.00%, 07/01/43

     3,190       3,817,696  

Utah Charter School Finance Authority, RB(a)

   

Series A, 5.00%, 06/15/39

     190       204,527  

Series A, 5.00%, 06/15/49

     380       401,060  
   

 

 

  
      12,798,445  
Security  

Par

(000)

     Value  

Vermont — 0.4%

    

Vermont Student Assistance Corp., RB, Series A, AMT, 3.38%, 06/15/36

   $     3,755     $     3,917,929  
   

 

 

  
Washington — 3.7%            

Port of Seattle Washington, ARB

    

Series A, AMT, 5.00%, 05/01/38

     20,000       23,885,600  

Series C, AMT, 5.00%, 04/01/40

     2,830       3,210,012  

Washington Health Care Facilities Authority, RB, Series B, 5.00%, 08/15/44

     1,000       1,056,340  

Washington Health Care Facilities Authority, Refunding RB, Series B, 4.00%, 08/15/41

     9,000       10,295,190  
   

 

 

  
      38,447,142  
Wisconsin — 2.3%            

Public Finance Authority, RB

    

Series A, 5.00%, 11/15/41

     450       540,450  

Series A-1, 5.00%, 01/01/55(a)

    1,640       1,829,584  

Public Finance Authority, Refunding RB(a)

   

5.00%, 09/01/39

     100       103,561  

5.00%, 09/01/49

     145       147,910  

5.00%, 09/01/54

     660       672,124  

Wisconsin Health & Educational Facilities Authority, Refunding RB

    

5.00%, 04/01/44

     7,350       9,186,324  

Series A, 5.00%, 11/15/36

     4,815       5,759,511  

Series A, 5.00%, 11/15/39

     5,000       5,982,150  
   

 

 

  
      24,221,614  
   

 

 

  

Total Municipal Bonds — 112.6%
(Cost: $1,042,627,567)

       1,179,301,042  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(f)

 

Arizona — 1.0%

    

City of Phoenix Civic Improvement Corp., ARB, AMT, Senior Lien, 5.00%, 07/01/43

     8,500       10,310,670  
   

 

 

  
California — 4.5%            

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

    7,074       8,807,503  

San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB, Series E, AMT, 5.00%, 05/01/45

     14,215       17,513,441  

State of California, Refunding GO, 5.25%, 10/01/39

     3,000       3,629,880  

University of California, Refunding RB, Series Q, 5.00%, 05/15/46

     13,395       17,395,853  
   

 

 

  
      47,346,677  
Colorado — 0.7%            

City & County of Denver Colorado Airport System Revenue, Refunding ARB, Series A, AMT, 5.25%, 12/01/43(g)

    5,833       7,173,075  
   

 

 

  
Connecticut — 0.5%            

Connecticut State Health & Educational Facilities Authority, Refunding RB, 5.00%, 12/01/45

     3,932       4,693,482  
   

 

 

  
District of Columbia — 0.7%            

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

     6,880       7,324,310  
   

 

 

  
 

 

 

5  

Schedule of Investments (unaudited) (continued)

April 30, 2021

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  

Florida — 3.5%

    

City of Miami Beach Florida Stormwater Revenue, Refunding RB, 5.00%, 09/01/41

   $     10,000     $     12,266,897  

City of Miami Beach Florida, RB, 5.00%, 09/01/45

     8,760       9,910,976  

County of Miami-Dade Florida Transit System, Refunding RB, 5.00%, 07/01/22(d)

    4,840       5,110,992  

Pinellas County School Board, COP, Series A, 5.00%, 07/01/41

     7,880       9,559,858  
   

 

 

  
      36,848,723  
Illinois — 5.5%            

Illinois Finance Authority, Refunding RB, 5.00%, 02/15/41

     10,000       11,938,396  

Illinois State Toll Highway Authority, RB

    

Series A, 5.00%, 01/01/38

     5,836       6,265,923  

Series A, 5.00%, 01/01/40

     7,621       8,825,931  

Series A, 5.00%, 01/01/44

     12,000       14,919,120  

Series B, 5.00%, 01/01/40

     2,939       3,478,157  

Series C, 5.00%, 01/01/36

     10,000       11,545,697  
   

 

 

  
      56,973,224  
Kansas — 1.6%            

Wyandotte County Unified School District No. 500 Kansas City, GO, Series A, 5.50%, 09/01/26(d)

    13,470       17,018,264  
   

 

 

  
Massachusetts — 2.9%            

Commonwealth of Massachusetts, GO

    

Series A, 5.00%, 03/01/46

     4,204       4,717,659  

Series E, 5.25%, 09/01/43

     20,000       25,605,000  
   

 

 

  
      30,322,659  
Michigan — 2.0%            

Michigan Finance Authority, RB, Series A, 5.00%, 11/01/44

     5,591       6,497,981  

Michigan State Building Authority, Refunding RB

    

Series I, 5.00%, 04/15/38

     10,000       11,873,097  

Series I, 5.00%, 10/15/45

     2,410       2,822,954  
   

 

 

  
      21,194,032  
Nevada — 2.3%            

County of Clark Nevada, GO, Series A, 5.00%, 06/01/43

     9,730       12,019,954  

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

     9,840       11,670,142  
   

 

 

  
      23,690,096  
New Jersey — 1.9%            

Garden State Preservation Trust, RB, Series A, (AGM), 5.75%, 11/01/28

     10,000       12,330,800  

Hudson County Improvement Authority, RB, 5.25%, 05/01/51

     2,320       2,765,278  

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

    4,962       5,008,250  
   

 

 

  
      20,104,328  
Security  

Par

(000)

     Value  

New York — 6.3%

    

City of New York Water & Sewer System, RB, Series CC, 5.00%, 06/15/47

   $     15,521     $     17,013,187  

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

     9,850       11,247,814  

New York City Water & Sewer System, Refunding RB, Series DD, 5.00%, 06/15/35

     4,740       5,406,871  

New York State Dormitory Authority, RB, Series A, 5.00%, 03/15/39

     7,622       9,250,324  

New York State Urban Development Corp., RB, Series A-1, 5.00%, 03/15/43

     14,280       15,436,680  

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

     6,402       7,763,330  
   

 

 

  
      66,118,206  
Pennsylvania — 1.8%            

Geisinger Authority, Refunding RB, Series A, 4.00%, 06/01/41

     15,000       16,279,050  

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

     2,560       2,952,986  
   

 

 

  
      19,232,036  
Texas — 3.3%            

Aldine Independent School District, Refunding GO, (PSF-GTD), 5.00%, 02/15/42

     9,701       11,820,835  

Dallas Fort Worth International Airport, ARB, Series H, AMT, 5.00%, 11/01/21(d)(g)

    8,868       9,075,748  

Tarrant County Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 05/15/23(d)

    1,798       1,973,893  

Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, Series A, 5.00%, 02/15/41

     9,840       11,741,875  
   

 

 

  
      34,612,351  
Virginia — 1.4%            

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

     11,740       14,676,290  
   

 

 

  
Washington — 1.0%            

Washington Health Care Facilities Authority, Refunding RB, Series A, 5.00%, 10/01/38

     8,205       10,543,261  
   

 

 

  
Wisconsin — 1.7%            

Wisconsin Health & Educational Facilities Authority, Refunding RB

    

Series A, 5.00%, 11/15/39

     12,650       15,134,838  

Series A, 5.00%, 04/01/42

     2,490       2,637,707  
   

 

 

  
      17,772,545  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 42.6%
(Cost: $410,402,419)

       445,954,229  
   

 

 

  

Total Long-Term Investments — 155.2%
(Cost: $1,453,029,986)

       1,625,255,271  
   

 

 

  
 

 

 

S C H E D U L E    O F   I N V E S T M E N T S   6

Schedule of Investments (unaudited) (continued)

April 30, 2021

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

 

  

Short-Term Securities

    

Money Market Funds — 0.5%

    

BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.01%(h)(i)

    5,140,154     $ 5,141,182  
   

 

 

  

Total Short-Term Securities — 0.5%
(Cost: $5,141,182)

       5,141,182  
   

 

 

  

Total Investments — 155.7%
(Cost: $1,458,171,168)

       1,630,396,453  

Other Assets Less Liabilities — 1.5%

       15,659,534  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (23.2)%

 

     (242,987,379 ) 

VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (34.0)%

 

     (356,005,334 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

     $  1,047,063,274  
   

 

 

  

 

 

(a) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(b) 

Zero-coupon bond.

(c) 

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) 

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.

(e) 

Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

(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, 2021 to June 15, 2036, is $17,976,898.

(h) 

Affiliate of the Fund.

(i) 

Annualized 7-day yield as of period end.

 

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer  

Value at

07/31/20

    

Purchases

at Cost

    Proceeds
from Sales		     

Net

Realized

Gain (Loss)

      Change in
Unrealized
Appreciation
(Depreciation)		    

Value at

04/30/21

    

Shares

Held at

04/30/21

     Income      Capital Gain
Distributions
from
Underlying
Funds 		 

BlackRock Liquidity Funds, MuniCash, Institutional Class

   $  3,684,353      $   1,456,666 (a)    $         —      $         1,268      $         (1,105 )    $  5,141,182        5,140,154      $     599      $             —  
         

 

 

     

 

 

    

 

 

        

 

 

     

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

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

Short Contracts

           

10-Year U.S. Treasury Note

     577        06/21/21      $ 76,236      $       601,505  

U.S. Long Treasury Bond

     244        06/21/21        38,384        584,537  
          

 

 

  
           $     1,186,042  
          

 

 

  

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access;

 

  •  

Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

 

  •  

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The

 

 

7  

Schedule of Investments (unaudited) (continued)

April 30, 2021

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

 

Fair Value Hierarchy as of Period End (continued)

inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

      Level 1        Level 2        Level 3        Total  

Assets

                  

Investments

                  

Long-Term Investments

                  

Municipal Bonds

    $ —        $  1,179,301,042        $ —        $  1,179,301,042  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —          445,954,229          —          445,954,229  

Short-Term Securities

                  

Money Market Funds

      5,141,182          —          —          5,141,182  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 5,141,182        $ 1,625,255,271        $ —        $ 1,630,396,453  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(a)

                 

Assets

                  

Interest Rate Contracts

    $       1,186,042        $                 —        $                 —        $       1,186,042  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

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

 

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

 

      Level 1        Level 2        Level 3        Total  

Liabilities

                  

TOB Trust Certificates

    $ —        $ (242,899,234 )       $ —        $ (242,899,234 ) 

VRDP Shares at Liquidation Value

      —          (356,400,000 )         —          (356,400,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $                 —        $  (599,299,234 )       $                 —        $  (599,299,234 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviation
AGC    Assured Guaranty Corp.
AGC-ICC    Assured Guaranty Corp. – Insured Custody Certificate
AGM    Assured Guaranty Municipal Corp.
AGM-CR    AGM Insured Custodial Receipt
AMBAC    AMBAC Assurance Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAM    Build America Mutual Assurance Co.
CAB    Capital Appreciation Bonds
COP    Certificates of Participation
GO    General Obligation Bonds
GTD    GTD Guaranteed
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
NPFGC-IBC    National Public Finance Guarantee Corp. — Insured Bond Certificate
PSF    Permanent School Fund
PSF-GTD    Permanent School Fund Guaranteed
Portfolio Abbreviation (continued)
RB    Revenue Bond
SAB    Special Assessment Bonds
ST    Special Tax
 

 

 

S C H E D U L E    O F   I N V E S T M E N T S   8