NPORT-EX 2 NPORT_LCQA_9409720580.htm BlackRock MuniAssets Fund

Schedule of Investments  (unaudited) 

July 31, 2021

   

BlackRock MuniAssets Fund, Inc. (MUA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		      Value  

Municipal Bonds

 

Alabama — 1.5%

 

County of Jefferson Alabama Sewer Revenue, Refunding RB, Series D, Sub Lien, 6.00%, 10/01/42

   $   3,745      $ 4,284,018  

Hoover Industrial Development Board, RB, AMT, 6.38%, 11/01/50(a)

     2,725        3,628,119  

Tuscaloosa County Industrial Development Authority, Refunding RB(b)

     

Series A, 4.50%, 05/01/32

     353        384,238  

Series A, 5.25%, 05/01/44

     385        442,369  
    

 

 

  
            8,738,744  
Arizona — 3.1%  

Arizona Industrial Development Authority, RB(b)

     

7.10%, 01/01/55

     1,790        1,833,300  

Series A, 5.00%, 12/15/39

     250        294,415  

Series B, 5.13%, 07/01/47

     665        753,970  

Arizona Industrial Development Authority, Refunding RB(b)

     

Series A, 5.13%, 07/01/37

     960        1,112,515  

Series A, 5.25%, 07/01/47

     1,765        2,021,631  

Series A, 5.50%, 07/01/52

     1,775        1,930,969  

Glendale Industrial Development Authority, RB

     

5.00%, 05/15/41

     100        115,779  

5.00%, 05/15/56

     405        459,708  

Industrial Development Authority of the City of Phoenix, RB(b)

     

Series A, 6.50%, 07/01/34

     570        660,653  

Series A, 6.75%, 07/01/44

     1,000        1,172,300  

Industrial Development Authority of the City of Phoenix, Refunding RB(b)

     

5.00%, 07/01/35

     625        699,457  

5.00%, 07/01/45

     1,425        1,578,591  

Series A, 5.00%, 07/01/35

     260        292,778  

Industrial Development Authority of the County of Pima, Refunding RB, 5.00%, 07/01/56(b)

     480        539,429  

La Paz County Industrial Development Authority, RB,

     

5.88%, 06/15/48(b)

     875        955,509  

Maricopa County Industrial Development Authority, RB(b)

     

5.25%, 10/01/40

     465        526,664  

5.50%, 10/01/51

     465        526,055  

Salt Verde Financial Corp., RB,
5.00%, 12/01/37

     1,650        2,354,385  
    

 

 

  
       17,828,108  
Arkansas(b) — 1.8%  

Arkansas Development Finance Authority, RB

     

Series A, AMT, 4.50%, 09/01/49

     2,815        3,165,383  

Series A, AMT, 4.75%, 09/01/49

     6,090        7,037,117  
    

 

 

  
          10,202,500  
California — 5.0%  

California Community Housing Agency, RB, M/F Housing(b)

     

Series A, 5.00%, 04/01/49

     240        275,057  

Series A-2, 4.00%, 08/01/47

     1,550        1,715,881  

California Municipal Finance Authority, RB(b)

     

Series A, 5.50%, 08/01/34

     295        319,992  

Series A, 6.00%, 08/01/44

     665        721,459  

Series A, 6.13%, 08/01/49

     580        627,896  
Security   Par
(000)		      Value  
California (continued)  

California Public Finance Authority, RB, Series A, 6.25%, 07/01/54(b)

   $   1,780      $ 2,074,626  

California School Finance Authority, RB

     

6.65%, 07/01/33

     435        478,261  

6.90%, 07/01/43

     975        1,068,278  

Series A, 6.40%, 07/01/48

     1,570        1,723,609  

California Statewide Communities Development Authority, RB, 5.25%, 12/01/38(b)

     580        708,766  

California Statewide Financing Authority, RB, Series B, 6.00%, 05/01/43

     1,650        1,654,537  

City of San Jose California Hotel Tax Revenue, RB

     

6.50%, 05/01/36

     900        903,510  

6.50%, 05/01/42

     2,220        2,228,503  

CMFA Special Finance Agency I, RB, M/F Housing, Series A, 4.00%, 04/01/56(b)

     3,300        3,616,140  

CSCDA Community Improvement Authority, RB, M/F Housing(b)

     

2.65%, 12/01/46

     1,080        1,117,022  

3.00%, 12/01/56

     890        924,051  

4.00%, 12/01/56

     1,385        1,538,680  

Golden State Tobacco Securitization Corp., Refunding RB

     

Series A-1, 5.25%, 06/01/47

     610        631,771  

Series A-2, 5.00%, 06/01/47

     790        816,552  

Hastings Campus Housing Finance Authority, RB, CAB, Sub-Series A, 6.75%, 07/01/61(b)(c)

     1,705        1,054,594  

Riverside County Transportation Commission, RB, Series A, Senior Lien, 5.75%, 06/01/48

     2,885        3,157,777  

San Francisco City & County Redevelopment Agency Successor Agency, TA, CAB(b)(d)

     

Series D, 0.00%, 08/01/26

     1,250        989,912  

Series D, 0.00%, 08/01/43

     1,500        506,340  
    

 

 

  
          28,853,214  
Colorado — 2.0%  

9th Avenue Metropolitan District No.2, GO,
5.00%, 12/01/48

     910        978,268  

Arista Metropolitan District, Refunding GO, Series A, 5.00%, 12/01/38

     1,240        1,341,420  

Banning Lewis Ranch Metropolitan District No. 8, GO, 4.88%, 12/01/51(b)

     665        665,293  

Centerra Metropolitan District No.1, TA,
5.00%, 12/01/47(b)

     575        603,963  

Green Valley Ranch East Metropolitan District No.6, GO, Series A, 5.88%, 12/01/50

     935        1,019,225  

Karl’s Farm Metropolitan District No.2, GO, Series A, 5.63%, 12/01/50(b)

     545        602,448  

Loretto Heights Community Authority, RB, 4.88%, 12/01/51

     790        820,810  

North Holly Metropolitan District, GO,
Series A, 5.50%, 12/01/48

     500        536,465  

Palisade Metropolitan District No.2, GO, Subordinate, 7.25%, 12/15/49

     1,211        1,327,244  

Prairie Farm Metropolitan District, GO,
Series A, 5.25%, 12/01/48

     760        813,724  

Pueblo Urban Renewal Authority, TA,
4.75%, 12/01/45(b)

     1,365        1,583,209  
 

 

 

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

   1

Schedule of Investments  (unaudited) (continued)

July 31, 2021

   

BlackRock MuniAssets Fund, Inc. (MUA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		      Value  
Colorado (continued)  

Southlands Metropolitan District No.1, Refunding GO, Series A-1, 5.00%, 12/01/47

   $ 410      $ 464,341  

Waters’ Edge Metropolitan District No.2, GO, 5.00%, 12/01/51

     790        802,995  
    

 

 

  
          11,559,405  
Connecticut(b) — 0.9%  

Connecticut State Health & Educational Facilities Authority, RB

     

Series A, 5.00%, 01/01/45

     325        359,392  

Series A, 5.00%, 01/01/55

     435        476,316  

Mohegan Tribal Finance Authority, RB,
7.00%, 02/01/45

     1,390        1,477,987  

Mohegan Tribe of Indians of Connecticut, RB, Series A, 6.75%, 02/01/45

     963        978,100  

Mohegan Tribe of Indians of Connecticut, Refunding RB, Series C, 6.25%, 02/01/30

     1,835        2,103,809  
    

 

 

  
       5,395,604  
District of Columbia — 0.6%  

District of Columbia Tobacco Settlement Financing Corp., RB, CAB,
Series A, 0.00%, 06/15/46(d)

     15,400        3,406,788  
    

 

 

  
Florida — 10.3%  

Boggy Creek Improvement District, Refunding SAB, Series 2013, 5.13%, 05/01/43

     1,335        1,391,764  

Brevard County Health Facilities Authority, Refunding RB(b)

     

4.00%, 11/15/23

     125        131,865  

4.00%, 11/15/24

     440        472,336  

4.00%, 11/15/25

     460        500,107  

4.00%, 11/15/27

     495        547,049  

4.00%, 11/15/29

     435        480,636  

4.00%, 11/15/32

     450        495,198  

4.00%, 11/15/35

     675        727,994  

Capital Region Community Development District, Refunding SAB,
Series A-1, 5.13%, 05/01/39

     1,495        1,689,335  

Capital Trust Agency, Inc., RB

     

8.25%, 01/01/44

     515        10,300  

8.25%, 01/01/49

     1,105        22,100  

Series A, 5.75%, 06/01/54(b)

     940        1,017,776  

Capital Trust Agency, Inc., RB, CAB,
0.00%, 07/01/61(b)(d)

     53,225        6,396,580  

Charlotte County Industrial Development Authority, RB(b)

     

AMT, 5.00%, 10/01/34

     245        277,210  

AMT, 5.00%, 10/01/49

     1,170        1,295,330  

Collier County Industrial Development Authority, Refunding RB,
Series A, 8.13%, 05/15/44(b)(e)(f)

     630        485,578  

County of Osceola Florida Transportation Revenue, Refunding RB, CAB(d)

     

Series A-2, 0.00%, 10/01/50

     730        282,817  

Series A-2, 0.00%, 10/01/51

     875        325,238  

Series A-2, 0.00%, 10/01/52

     875        312,795  

Series A-2, 0.00%, 10/01/53

     2,325        798,963  

Series A-2, 0.00%, 10/01/54

     875        289,048  

Florida Development Finance Corp., RB

     

Series A, 5.75%, 06/15/29

     690        748,036  

Series A, 6.00%, 06/15/34

     835        905,716  

Series A, 6.13%, 06/15/44

     3,180        3,433,637  

Series A, 5.13%, 06/15/55(b)

     3,645        3,848,646  

Series A, AMT, 5.00%, 08/01/29(a)(b)

     1,550        1,602,932  
Security   Par
(000)		      Value  
Florida (continued)  

Florida Development Finance Corp., RB (continued)

     

Series B, AMT, 7.38%, 01/01/49(b)

   $ 1,360      $      1,499,386  

Florida Development Finance Corp., Refunding RB, 5.00%, 06/01/51

     355        411,598  

Greeneway Improvement District, SAB,
5.13%, 05/01/43

     1,675        1,728,265  

Lakewood Ranch Stewardship District, SAB

     

4.25%, 05/01/26

     135        143,280  

4.95%, 05/01/29(b)

     395        451,797  

5.50%, 05/01/39(b)

     400        473,080  

5.13%, 05/01/46

     810        885,954  

5.65%, 05/01/48(b)

     665        783,011  

Series 1B, 4.75%, 05/01/29

     565        640,134  

Series 1B, 5.30%, 05/01/39

     645        753,940  

Series 1B, 5.45%, 05/01/48

     1,150        1,338,335  

Miami-Dade County Industrial Development Authority, RB, 5.00%, 01/15/48

     915        1,061,043  

Mid-Bay Bridge Authority, RB,
Series A, 7.25%, 10/01/21(g)

     4,550        4,602,507  

Midtown Miami Community Development District, Refunding SAB

     

Series A, 5.00%, 05/01/37

     845        882,383  

Series B, 5.00%, 05/01/37

     495        516,899  

North River Ranch Community Development District, SAB

     

Series A-1, 4.00%, 05/01/40

     310        336,632  

Series A-1, 4.25%, 05/01/51

     530        570,964  

Series A-2, 4.20%, 05/01/35

     450        487,994  

Series A-3, 4.75%, 05/01/40

     600        600,306  

Palm Beach County Health Facilities Authority, Refunding RB, Series A, 7.25%, 06/01/34

     500        534,765  

Santa Rosa Bay Bridge Authority, RB,
6.25%, 07/01/28(e)(f)

     3,405        2,982,145  

Seminole County Industrial Development Authority, Refunding RB

     

5.50%, 11/15/49

     1,235        1,381,718  

5.75%, 11/15/54

     985        1,109,346  

Tolomato Community Development
District, Refunding SAB,
Series 2015-2, 6.61%, 05/01/40(c)

     805        627,489  

Tolomato Community Development District, Refunding SAB, CAB, Series A-4, Convertible, 6.61%, 05/01/40(c)

     305        295,673  

Tolomato Community Development District, SAB(e)(f)

     

3rd Series, 6.65%, 05/01/40

     710        7  

Series 2015-1, 6.61%, 05/01/40(c)

     1,305        1,275,207  

Series 2015-3, 6.61%, 05/01/40

     875        9  

Trout Creek Community Development District, SAB

     

5.38%, 05/01/38

     430        489,920  

5.50%, 05/01/49

     1,105        1,245,954  

Village Community Development District No.9, SAB, 5.50%, 05/01/42

     1,065        1,083,808  

West Villages Improvement District, SAB

     

4.75%, 05/01/39

     455        506,046  

5.00%, 05/01/50

     940        1,042,366  
    

 

 

  
       59,230,947  
Georgia — 1.0%  

George L Smith II Congress Center Authority, RB, 4.00%, 01/01/54

     410        478,413  
 

 

 

2  

Schedule of Investments  (unaudited) (continued)

July 31, 2021

   

BlackRock MuniAssets Fund, Inc. (MUA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		      Value  
Georgia (continued)  

Main Street Natural Gas, Inc., RB

     

Series A, 5.00%, 05/15/35

   $ 560      $ 786,122  

Series A, 5.00%, 05/15/36

     560        796,141  

Series A, 5.00%, 05/15/37

     615        885,680  

Series A, 5.00%, 05/15/38

     340        496,658  

Series A, 5.00%, 05/15/49

     1,130        1,785,841  

Private Colleges & Universities Authority, Refunding RB, 4.00%, 10/01/50

     345        412,223  
    

 

 

  
       5,641,078  
Guam — 0.2%  

Territory of Guam, Refunding RB

     

Series A, 5.00%, 11/01/35

     385        495,830  

Series A, 5.00%, 11/01/40

     540        682,819  
    

 

 

  
            1,178,649  
Idaho — 0.1%  

Idaho Housing & Finance Association, RB, Series A, 6.95%, 06/15/55(b)

     580        640,059  
    

 

 

  
Illinois — 6.5%  

Chicago Board of Education, GO

     

Series A, 5.00%, 12/01/42

     1,020        1,069,582  

Series C, 5.25%, 12/01/35

     1,655        1,867,932  

Series D, 5.00%, 12/01/46

     2,155        2,400,769  

Series H, 5.00%, 12/01/46

     720        861,545  

Chicago Board of Education, Refunding GO

     

Series B, 4.00%, 12/01/35

     745        772,327  

Series C, 5.00%, 12/01/25

     725        853,136  

Series D, 5.00%, 12/01/31

     1,000        1,234,220  

Series G, 5.00%, 12/01/44

     2,150        2,579,398  

City of Chicago Illinois, Refunding GO,
Series A, 6.00%, 01/01/38

     1,260        1,587,512  

Illinois Finance Authority, Refunding RB

     

6.60%, 07/01/24

     450        452,005  

6.00%, 02/01/34

     365        384,597  

6.13%, 02/01/45

     860        898,089  

Metropolitan Pier & Exposition Authority, RB

     

Series A, 5.50%, 06/15/53

     2,370        2,825,372  

Series A, 5.00%, 06/15/57

     1,020        1,224,143  

Metropolitan Pier & Exposition Authority, Refunding RB, 4.00%, 12/15/47(h)

     1,805        2,080,497  

Metropolitan Pier & Exposition Authority, Refunding RB, CAB,
Series B, 0.00%, 12/15/54(d)

     18,775        8,025,749  

State of Illinois, GO

     

5.50%, 05/01/30

     530        709,776  

5.50%, 05/01/39

     1,055        1,382,440  

Series A, 5.00%, 01/01/33

     740        753,216  

Series D, 5.00%, 11/01/24

     3,255        3,731,239  

Village of Lincolnshire Illinois, ST,
6.25%, 03/01/34

     1,448        1,449,434  
    

 

 

  
       37,142,978  
Indiana — 1.8%  

City of Anderson Indiana, RB, 5.38%, 01/01/40

     580        608,153  

City of Valparaiso Indiana, RB

     

AMT, 6.75%, 01/01/34

     825        912,062  

AMT, 7.00%, 01/01/44

     2,000        2,213,700  

City of Vincennes Indiana, Refunding RB, 6.25%, 01/01/29(b)

     1,885        1,888,092  

Indiana Finance Authority, RB

     

Series A, AMT, 6.75%, 05/01/39

     1,060        1,424,523  
Security   Par
(000)		      Value  
Indiana (continued)  

Indiana Finance Authority, RB (continued)

     

Series A, AMT, 5.00%, 07/01/44

   $ 470      $ 503,849  

Series A, AMT, 5.00%, 07/01/48

     1,555        1,674,813  

Indiana Housing & Community Development Authority, RB, 5.38%, 10/01/40(b)

     1,230        1,298,130  
    

 

 

  
       10,523,322  
Iowa — 0.4%  

Iowa Finance Authority, Refunding RB

     

5.25%, 12/01/25

     150        165,314  

Series B, 5.25%, 12/01/50(a)

     2,085        2,294,855  
    

 

 

  
       2,460,169  
Kansas(b) — 0.2%  

City of Shawnee Kansas, RB

     

5.00%, 08/01/41

     230        251,496  

5.00%, 08/01/56

     850        911,251  
    

 

 

  
       1,162,747  
Kentucky — 0.8%  

Kentucky Public Transportation Infrastructure Authority, RB, Series A, 5.75%, 07/01/49

     4,000        4,375,760  
    

 

 

  
Louisiana — 2.0%  

Juban Crossing Economic Development District, Refunding RB, Series C, 7.00%, 09/15/44(b)

     2,380        2,359,651  

Louisiana Local Government Environmental Facilities & Community Development Authority, RB, 5.00%, 07/01/54(b)

     930        976,863  

Parish of St. James Louisiana, RB, 2nd Series, 6.35%, 07/01/40(b)

     1,580        2,128,007  

Tobacco Settlement Financing Corp., Refunding RB, Series A, 5.25%, 05/15/35

     5,570        6,009,584  
    

 

 

  
       11,474,105  
Maryland — 1.1%  

County of Frederick Maryland, Refunding TA, 4.63%, 07/01/43(b)

     1,930        2,337,346  

Maryland Economic Development Corp., RB, 5.00%, 07/01/56

     360        445,298  

Maryland Health & Higher Educational Facilities Authority, RB, Series A, 7.00%, 03/01/55(b)

     3,010        3,458,731  
    

 

 

  
       6,241,375  
Massachusetts — 0.1%  

Massachusetts Development Finance Agency, Refunding RB

     

4.00%, 07/01/45

     170        199,347  

4.00%, 07/01/50

     325        377,296  
    

 

 

  
       576,643  
Michigan — 1.2%  

Advanced Technology Academy, Refunding RB, 5.00%, 11/01/44

     415        464,215  

City of Detroit Michigan Sewage Disposal System Revenue, Refunding RB, Series A, Senior Lien, 5.25%, 07/01/22(g)

     2,785        2,916,508  

City of Detroit Michigan, GO

     

5.00%, 04/01/34

     285        343,436  

5.00%, 04/01/35

     285        342,479  

5.00%, 04/01/36

     200        239,724  

5.00%, 04/01/37

     320        382,653  
 

 

 

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

   3

Schedule of Investments  (unaudited) (continued)

July 31, 2021

   

BlackRock MuniAssets Fund, Inc. (MUA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		      Value  
Michigan (continued)  

City of Detroit Michigan, GO (continued)

     

5.00%, 04/01/38

   $ 145      $ 172,937  

Michigan Finance Authority, RB, Series C-2, AMT, Senior Lien, 5.00%, 07/01/22(g)

     415        432,924  

Michigan Strategic Fund, RB, AMT,
5.00%, 06/30/48

     1,200        1,461,204  
    

 

 

  
            6,756,080  
Minnesota — 0.3%  

City of Minneapolis Minnesota, RB, Series A, 5.75%, 07/01/55

     1,480        1,752,364  
    

 

 

  
Missouri — 0.3%  

Industrial Development Authority of the City of St. Louis Missouri, Refunding RB

     

Series A, 4.38%, 11/15/35

     685        700,214  

Series A, 4.75%, 11/15/47

     760        769,804  
    

 

 

  
       1,470,018  
Nevada — 0.2%  

Tahoe-Douglas Visitors Authority, RB

     

5.00%, 07/01/40

     315        372,991  

5.00%, 07/01/45

     395        461,131  

5.00%, 07/01/51

     420        485,155  
    

 

 

  
       1,319,277  
New Hampshire — 0.7%  

New Hampshire Business Finance Authority, RB

     

Series A, 4.13%, 08/15/40

     530        556,018  

Series A, 4.25%, 08/15/46

     595        620,740  

Series A, 4.50%, 08/15/55

     1,235        1,296,330  

New Hampshire Business Finance Authority, Refunding RB(b)

     

Series B, 4.63%, 11/01/42

     1,015        1,066,988  

Series C, AMT, 4.88%, 11/01/42

     485        512,097  
    

 

 

  
       4,052,173  
New Jersey — 4.4%  

Casino Reinvestment Development Authority, Inc., Refunding RB

     

5.25%, 11/01/39

     1,065        1,192,278  

5.25%, 11/01/44

     770        852,698  

New Jersey Economic Development Authority, RB

6.00%, 10/01/43

     1,530        1,680,414  

Series A, 5.00%, 07/01/32

     165        181,776  

Series A, 5.00%, 07/01/37

     260        284,396  

Series A, 5.25%, 11/01/54(b)

     1,675        1,813,472  

Series B, 5.00%, 06/15/43

     2,245        2,776,347  

AMT, 5.38%, 01/01/43

     2,155        2,368,323  

Series B, AMT, 6.50%, 04/01/31

     1,940        2,111,593  

New Jersey Economic Development Authority, Refunding RB, Series A, 6.00%, 08/01/49(b)

     500        529,960  

New Jersey Transportation Trust Fund Authority, RB

     

Series AA, 5.25%, 06/15/41

     1,140        1,328,351  

Series S, 5.25%, 06/15/43

     2,345        2,984,153  

Tobacco Settlement Financing Corp., Refunding RB, Sub-Series B, 5.00%, 06/01/46

     5,970        7,150,329  
    

 

 

  
       25,254,090  
New Mexico — 0.5%  

New Mexico Hospital Equipment Loan Council, Refunding RB, 5.50%, 07/01/42

     2,970        3,104,006  
    

 

 

  
Security   Par
(000)		      Value  

New York — 6.3%

     

Erie Tobacco Asset Securitization Corp., Refunding RB,

     

Series A, 5.00%, 06/01/45

   $ 2,890      $      2,910,837  

Huntington Local Development Corp., RB,
Series A, 5.25%, 07/01/56

     185        204,183  

Metropolitan Transportation Authority, Refunding RB

     

Series C-1, 4.75%, 11/15/45

     1,740        2,158,957  

Series C-1, 5.00%, 11/15/50

     565        702,397  

Series C-1, 5.25%, 11/15/55

     840        1,060,550  

New York City Industrial Development Agency, Refunding RB

     

Series A, Class A, (AGM), 3.00%, 01/01/37

     250        276,685  

Series A, Class A, (AGM), 3.00%, 01/01/39

     250        275,562  

Series A, Class A, (AGM), 3.00%, 01/01/40

     175        192,539  

New York Counties Tobacco Trust IV, Refunding RB

     

Series A, 6.25%, 06/01/41(b)

     5,100        5,173,083  

Series A, 5.00%, 06/01/42

     3,155        3,184,373  

Series A, 5.00%, 06/01/45

     1,185        1,195,973  

New York Counties Tobacco Trust VI, Refunding RB

     

Series A-2-B, 5.00%, 06/01/45

     2,655        2,906,667  

Series A-2-B, 5.00%, 06/01/51

     1,900        2,028,896  

New York Liberty Development Corp., Refunding RB(b)

     

Series 1, Class 1, 5.00%, 11/15/44

     6,205        6,856,277  

Series 2, Class 2, 5.15%, 11/15/34

     455        512,548  

Series 2, Class 2, 5.38%, 11/15/40

     1,080        1,220,108  

New York Transportation Development Corp., RB

     

AMT, 5.00%, 10/01/35

     395        511,403  

AMT, 5.00%, 10/01/40

     1,120        1,431,987  

New York Transportation Development Corp., Refunding ARB, AMT, 5.38%, 08/01/36

     1,490        1,899,050  

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

     1,234        1,378,537  
    

 

 

  
       36,080,612  
Ohio — 2.3%  

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

     4,980        5,843,433  

Cleveland-Cuyahoga County Port Authority, RB

     

4.00%, 07/01/46

     65        76,785  

4.00%, 07/01/51

     95        111,741  

County of Hamilton Ohio, Refunding RB,
Series C, 5.00%, 01/01/46

     875        980,298  

County of Hardin Ohio, Refunding RB

     

5.00%, 05/01/30

     240        263,981  

5.25%, 05/01/40

     480        521,899  

5.50%, 05/01/50

     1,130        1,226,479  

Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(b)

     840        988,655  

Port of Greater Cincinnati Development Authority, RB, 4.25%, 12/01/50(b)

     385        393,077  

Southern Ohio Port Authority, RB, Series A, AMT, 7.00%, 12/01/42(b)

     2,315        2,689,312  
    

 

 

  
       13,095,660  
Oklahoma — 2.4%  

Oklahoma Development Finance Authority, RB 7.25%, 09/01/51(b)

     4,615        5,683,234  

Series B, 5.00%, 08/15/38

     2,990        3,657,727  
 

 

 

4  

Schedule of Investments  (unaudited) (continued)

July 31, 2021

   

BlackRock MuniAssets Fund, Inc. (MUA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		      Value  
Oklahoma (continued)  

Oklahoma Development Finance Authority, RB (continued)

     

Series B, 5.25%, 08/15/43

   $ 2,690      $ 3,324,436  

Tulsa County Industrial Authority, Refunding RB, 5.25%, 11/15/37

     750        859,103  
    

 

 

  
       13,524,500  
Oregon — 0.5%  

Hospital Facilities Authority of Multnomah County Oregon, Refunding RB,
Series A, 5.50%, 10/01/49

     1,765        1,882,267  

Oregon State Facilities Authority, RB(b)

     

Series A, 5.00%, 06/15/29

     115        127,209  

Series A, 5.00%, 06/15/39

     565        624,444  
    

 

 

  
       2,633,920  
Pennsylvania — 1.4%  

Allentown Neighborhood Improvement Zone Development Authority, Refunding RB, Series A, 5.00%, 05/01/42

     2,140        2,216,120  

Bucks County Industrial Development Authority, RB

     

4.00%, 07/01/46

     100        113,834  

4.00%, 07/01/51

     100        112,766  

Montgomery County Industrial Development Authority, Refunding RB, 5.38%, 01/01/50

     1,135        1,192,703  

Northampton County Industrial Development Authority, TA, 7.00%, 07/01/32

     1,655        1,774,607  

Pennsylvania Economic Development Financing Authority, Refunding RB, AMT,
5.50%, 11/01/44

     2,710        2,896,638  
    

 

 

  
       8,306,668  
Puerto Rico — 13.5%  

Children’s Trust Fund, RB,
Series A, 0.00%, 05/15/57(d)

     44,330        2,965,677  

Children’s Trust Fund, Refunding RB,
5.63%, 05/15/43

     850        859,894  

Commonwealth of Puerto Rico, GO(e)(f)

     

Series A, 5.25%, 07/01/22

     145        138,026  

Series A, 5.25%, 07/01/26

     50        47,595  

Series A, 5.13%, 07/01/31

     515        490,232  

Series A, 5.38%, 07/01/33

     500        475,953  

Series A, 6.00%, 07/01/38

     750        723,750  

Commonwealth of Puerto Rico, Refunding
GO(e)(f)

     

5.00%, 07/01/18

     90        82,425  

Series A, 8.00%, 07/01/35

     9,295        7,942,754  

Series A, 5.50%, 07/01/39

     1,265        1,136,609  

Series A, 6.50%, 07/01/40

     1,110        1,040,625  

Series A, 5.00%, 07/01/41

     2,230        1,903,916  

Series B, 6.00%, 07/01/39

     110        106,150  

Series D, 5.75%, 07/01/41

     165        154,138  

Puerto Rico Commonwealth Aqueduct & Sewer Authority, RB

     

Series A, Senior Lien, 5.00%, 07/01/33

     170        176,047  

Series A, Senior Lien, 5.13%, 07/01/37

     200        206,872  

Series A, Senior Lien, 5.75%, 07/01/37

     1,290        1,341,626  

Puerto Rico Commonwealth Aqueduct & Sewer Authority, Refunding RB(b)

     

Series A, Senior Lien, 5.00%, 07/01/35

     1,780        2,208,410  

Series A, Senior Lien, 5.00%, 07/01/47

     3,135        3,801,501  

Puerto Rico Electric Power Authority, RB

     

3rd Series, 5.40%, 01/01/22(a)

     90        83,272  

Series A, 5.00%, 07/01/29(e)(f)

     660        652,162  

Series A, 7.00%, 07/01/33(e)(f)

     3,295        3,321,087  

Series A, 6.75%, 07/01/36(e)(f)

     1,335        1,345,569  

Series A, 5.00%, 07/01/42(e)(f)

     1,315        1,299,384  
Security   Par
(000)		      Value  
Puerto Rico (continued)  

Puerto Rico Electric Power Authority, RB (continued)

     

Series A, 7.00%, 07/01/43(e)(f)

   $ 375      $ 377,969  

Series A-3, 10.00%, 07/01/19(e)(f)

     323        339,160  

Series B-3, 10.00%, 07/01/19(e)(f)

     323        339,160  

Series C-1, 5.40%, 01/01/18(e)(f)

     887        823,661  

Series C-2, 5.40%, 07/01/18(e)(f)

     887        823,795  

Series C-4, 5.40%, 07/01/20(e)(f)

     90        83,272  

Series CCC, 5.25%, 07/01/26(e)(f)

     260        256,912  

Series CCC, 5.25%, 07/01/28(e)(f)

     145        143,278  

Series TT, 5.00%, 07/01/25(e)(f)

     100        98,813  

Series TT, 5.00%, 07/01/26(e)(f)

     225        222,328  

Series WW, 5.50%, 07/01/19(e)(f)

     200        197,625  

Series WW, 5.50%, 07/01/21

     1,595        1,480,348  

Series WW, 5.38%, 07/01/22

     1,310        1,294,444  

Series WW, 5.25%, 07/01/33(e)(f)

     120        118,575  

Series WW, 5.50%, 07/01/38(e)(f)

     205        202,566  

Series WW, 5.50%, 07/01/49(e)(f)

     1,320        1,304,325  

Series XX, 5.25%, 07/01/27(e)(f)

     110        108,694  

Series XX, 5.25%, 07/01/35

     585        542,949  

Series XX, 5.25%, 07/01/35(e)(f)

     60        59,288  

Series XX, 5.75%, 07/01/36(e)(f)

     860        849,787  

Series XX, 5.25%, 07/01/40(e)(f)

     1,020        1,007,887  

Puerto Rico Electric Power Authority, Refunding RB(e)(f)

     

Series AAA, 5.25%, 07/01/22

     2,545        2,514,778  

Series AAA, 5.25%, 07/01/29

     95        93,872  

Series UU, 1.00%, 07/01/19(a)

     115        102,298  

Series UU, 1.00%, 07/01/20(a)

     495        440,327  

Series UU, 2.25%, 07/01/31(a)

     580        515,939  

Series ZZ, 5.25%, 07/01/19

     455        449,597  

Series ZZ, 5.25%, 07/01/24

     345        340,903  

Series ZZ, 5.00%, 07/01/49

     145        143,278  

Puerto Rico Electric Power Authority, Refunding RB, BAB, 6.13%, 07/01/40

     1,085        1,007,008  

Puerto Rico Public Buildings Authority, Refunding RB(e)(f)

     

Series F, (GTD), 5.25%, 07/01/24

     235        246,493  

Series M-2, (GTD), 10.00%, 07/01/34

     155        175,925  

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

     

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

     2,453        2,821,809  

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

     5,234        6,098,290  

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

     6,129        6,961,625  

Series A-2, Restructured, 4.54%, 07/01/53

     21        23,842  

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

     2,080        2,391,584  

Series B-1, Restructured, 4.55%, 07/01/40

     2,402        2,760,619  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB(d)

     

Series A-1, Restructured, 0.00%, 07/01/24

     1,406        1,352,038  

Series A-1, Restructured, 0.00%, 07/01/29

     1,079        949,596  

Series A-1, Restructured, 0.00%, 07/01/31

     686        553,266  

Series A-1, Restructured, 0.00%, 07/01/33

     337        252,393  

Series A-1, Restructured, 0.00%, 07/01/46

     10,261        3,427,995  

Series A-1, Restructured, 0.00%, 07/01/51

     2,333        566,429  

Series B-1, Restructured, 0.00%, 07/01/46

     883        296,052  
    

 

 

  
          77,664,466  
Rhode Island — 1.9%  

Central Falls Detention Facility Corp., Refunding RB, 7.25%, 07/15/35(e)(f)

     4,190        628,500  
 

 

 

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

   5

Schedule of Investments  (unaudited) (continued)

July 31, 2021

   

BlackRock MuniAssets Fund, Inc. (MUA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		      Value  
Rhode Island (continued)  

Tobacco Settlement Financing Corp., Refunding RB

     

Series A, 5.00%, 06/01/40

   $   980      $      1,109,125  

Series B, 4.50%, 06/01/45

     5,055        5,628,186  

Series B, 5.00%, 06/01/50

     3,330        3,812,584  
    

 

 

  
       11,178,395  
South Carolina — 0.1%  

South Carolina Jobs-Economic Development Authority, RB, Series A, 5.00%, 11/15/54

     345        381,197  
    

 

 

  
Tennessee — 0.4%  

Memphis-Shelby County Industrial Development Board, Refunding TA

     

Series A, 5.50%, 07/01/37

     925        917,313  

Series A, 5.63%, 01/01/46

     1,085        1,080,411  
    

 

 

  
       1,997,724  
Texas — 6.7%  

Angelina & Neches River Authority, RB,
Series A, AMT, 7.50%, 12/01/45(b)

     715        724,431  

Arlington Higher Education Finance Corp., RB, 5.00%, 06/15/51

     715        760,324  

Arlington Higher Education Finance Corp., Refunding RB, Series S, 5.00%, 08/15/41

     370        411,688  

Brazoria County Industrial Development Corp., RB, AMT, 7.00%, 03/01/39

     675        729,425  

Central Texas Regional Mobility Authority, Refunding RB, CAB(d)

     

0.00%, 01/01/28

     1,000        930,260  

0.00%, 01/01/29

     2,000        1,822,600  

0.00%, 01/01/30

     1,170        1,039,299  

0.00%, 01/01/33

     3,690        3,020,007  

0.00%, 01/01/34

     4,000        3,176,960  

City of Houston Texas Airport System Revenue, RB, Series A, AMT, 6.63%, 07/15/38

     2,890        2,901,473  

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

     250        297,880  

City of Houston Texas Airport System Revenue, Refunding RB

     

AMT, 5.00%, 07/01/29

     730        804,256  

Series C, AMT, 5.00%, 07/15/27

     1,615        1,908,575  

Harris County Cultural Education Facilities Finance Corp., RB,
Series B, 7.00%, 01/01/23(g)

     475        521,161  

Mission Economic Development Corp., Refunding RB, AMT, Senior Lien,
4.63%, 10/01/31(b)

     785        828,199  

New Hope Cultural Education Facilities Finance Corp., RB

     

Series A, 5.88%, 04/01/23(g)

     1,210        1,326,341  

Series A, 6.00%, 04/01/23(g)

     1,845        2,026,216  

Series A, 10.00%, 12/01/25(b)

     1,140        1,139,111  

New Hope Cultural Education Facilities Finance Corp., Refunding RB,

Series A, 5.00%, 08/15/36(b)

     1,085        1,087,018  

New Hope Higher Education Finance Corp., RB, Series A, 5.75%, 06/15/51(b)

     1,650        1,668,463  

Newark Higher Education Finance Corp., RB(b)

     

Series A, 5.50%, 08/15/35

     290        338,998  

Series A, 5.75%, 08/15/45

     580        678,896  

Port Beaumont Navigation District, Refunding RB(b)

     

Series A, AMT, 3.63%, 01/01/35

     650        672,438  

Series A, AMT, 4.00%, 01/01/50

     1,400        1,447,614  

Red River Health Facilities Development Corp., RB 5.13%, 01/01/41

     900        910,305  
Security   Par
(000)		      Value  
Texas (continued)  

Red River Health Facilities Development Corp., RB (continued)

     

7.25%, 12/15/42(e)(f)

   $   2,895      $      2,022,415  

Tarrant County Cultural Education Facilities Finance Corp., Refunding RB,
5.00%, 10/01/49

     865        948,542  

Texas Transportation Commission, RB, CAB(d)

     

0.00%, 08/01/46

     1,420        495,509  

0.00%, 08/01/47

     2,120        701,699  

0.00%, 08/01/48

     2,235        701,924  

0.00%, 08/01/49

     2,100        626,094  

0.00%, 08/01/50

     3,015        847,637  

0.00%, 08/01/51

     1,770        469,793  

0.00%, 08/01/52

     1,770        443,562  

0.00%, 08/01/53

     160        37,915  
    

 

 

  
       38,467,028  
Utah(b) — 0.1%  

Utah Charter School Finance Authority, RB

     

Series A, 5.00%, 06/15/41

     205        239,914  

Series A, 5.00%, 06/15/52

     265        301,755  
    

 

 

  
       541,669  
Virginia — 1.7%  

Lower Magnolia Green Community Development Authority, SAB(b)

     

5.00%, 03/01/35

     495        531,214  

5.00%, 03/01/45

     505        536,063  

Norfolk Redevelopment & Housing Authority, RB

     

Series A, 4.00%, 01/01/29

     300        318,960  

Series A, 5.00%, 01/01/34

     485        526,361  

Series A, 5.00%, 01/01/49

     955        1,020,226  

Tobacco Settlement Financing Corp., Refunding RB, Series B-1, 5.00%, 06/01/47

     2,370        2,408,418  

Virginia Small Business Financing Authority, RB, AMT, Senior Lien, 6.00%, 01/01/37

     4,440        4,665,108  
    

 

 

  
       10,006,350  
Washington — 1.0%  

Greater Wenatchee Regional Events Center Public Facilities District, Refunding RB, Series A, 5.50%, 09/01/42

     1,495        1,545,411  

Washington State Convention Center Public Facilities District, RB

     

4.00%, 07/01/31

     1,315        1,570,360  

4.00%, 07/01/58

     795        929,753  

Washington State Housing Finance Commission, RB(b)

     

Series A, 5.00%, 07/01/50

     225        261,101  

Series A, 5.00%, 07/01/56

     255        291,980  

Washington State Housing Finance Commission, Refunding RB(b)

     

5.75%, 01/01/35

     315        348,885  

6.00%, 01/01/45

     850        941,043  
    

 

 

  
       5,888,533  
Wisconsin — 5.1%  

Public Finance Authority, RB

     

5.00%, 06/15/39

     175        212,989  

5.00%, 06/15/41(b)

     345        373,701  

5.00%, 01/01/42(b)

     605        666,813  

6.85%, 11/01/46(b)

     900        957,420  

7.00%, 11/01/46(b)

     570        610,219  

5.00%, 06/15/49

     530        627,695  

5.63%, 06/15/49(b)

     2,500        2,578,475  
 

 

 

6  

Schedule of Investments  (unaudited) (continued)

July 31, 2021

   

BlackRock MuniAssets Fund, Inc. (MUA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		      Value  
Wisconsin (continued)  

Public Finance Authority, RB (continued)

     

5.00%, 04/01/50(b)

   $ 115      $ 137,409  

5.00%, 06/15/53

     355        419,372  

5.00%, 06/15/55(b)

     895        939,070  

5.00%, 01/01/56(b)

     1,470        1,584,307  

Series A, 6.25%, 10/01/31(b)

     605        644,966  

Series A, 5.38%, 06/01/44(b)

     555        573,448  

Series A, 7.00%, 10/01/47(b)

     605        642,940  

Series A, 5.63%, 06/15/49(b)

     2,950        3,217,299  

Series A, 5.50%, 06/01/54(b)

     680        696,476  

Series A, 5.00%, 06/15/55(b)

     4,030        4,182,616  

Series A-1, 4.50%, 01/01/35(b)

     1,225        1,407,905  

Series A-1, 5.50%, 12/01/48(b)(e)(f)

     20        6,578  

Series A-1, 5.00%, 01/01/55(b)

     2,640        3,041,201  

Series B, 0.00%, 01/01/35(b)(d)

     1,750        814,397  

Series B, 0.00%, 01/01/60(b)(d)

     35,940        3,321,575  

Wisconsin Health & Educational Facilities Authority, Refunding RB

     

5.00%, 11/01/46

     470        511,769  

5.00%, 11/01/54

     785        847,313  
    

 

 

  
       29,015,953  
    

 

 

  

Total Municipal Bonds — 90.4%
(Cost: $457,139,405)

 

      519,122,878  
    

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(i)

 

Illinois — 2.6%  

Illinois Finance Authority, RB,

Series A, (AGM), 6.00%, 08/15/41

     7,180        7,193,857  

Illinois Finance Authority, Refunding RB

     

Series C, 4.00%, 02/15/27(g)

     4        4,291  

Series C, 4.00%, 02/15/41

     1,495        1,710,703  

Illinois State Toll Highway Authority, RB,
Series A, 5.00%, 01/01/40

     5,056        5,902,472  
    

 

 

  
       14,811,323  
Massachusetts — 0.5%  

Commonwealth of Massachusetts Transportation Fund Revenue, RB,
Series A, 4.00%, 06/01/45

     2,268        2,536,916  
    

 

 

  
New York — 12.2%  

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

     1,465        1,471,720  

New York City Housing Development Corp., RB, M/F Housing

     

Series C-1A, 4.15%, 11/01/39

     1,893        1,981,159  

Series C-1A, 4.20%, 11/01/44

     3,470        3,631,395  

Series C-1A, 4.30%, 11/01/47

     2,840        2,971,696  

Series D-1B, 4.25%, 11/01/45

     8,996        9,615,381  

New York City Water & Sewer System, Refunding RB

     

Series CC, 5.00%, 06/15/23(g)

     6,665        7,246,443  

Series CC, 5.00%, 06/15/47

     7,516        8,172,517  

New York Liberty Development Corp., ARB, 5.25%, 12/15/43

     18,104        18,434,354  

New York Liberty Development Corp., Refunding RB, 5.75%, 11/15/51(j)

     6,600        6,696,726  
Security   Par
(000)		      Value  
New York (continued)  

New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/60

   $ 1,444      $ 1,721,829  

New York State Dormitory Authority, Refunding RB, Series D, 4.00%, 02/15/47

     6,956        8,166,450  
    

 

 

  
       70,109,670  
Pennsylvania — 0.5%  

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

     2,505        3,104,847  
    

 

 

  
Rhode Island — 0.3%  

Narragansett Bay Commission, Refunding RB, Series A, 4.00%, 09/01/22(g)

     1,710        1,782,128  
    

 

 

  

Texas — 0.4%

     

Lower Colorado River Authority, Refunding, RB, 4.00%, 05/15/43

     2,271        2,328,773  
    

 

 

  
Washington — 1.4%  

City of Bellingham Washington Water & Sewer Revenue, RB, 5.00%, 08/01/40

     7,966        7,966,366  
    

 

 

  
Wisconsin — 0.2%  

Wisconsin Health & Educational Facilities Authority, Refunding RB, 4.00%, 12/01/46

     1,142        1,301,681  
    

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 18.1%
(Cost: $99,442,729)

 

      103,941,704  
    

 

 

  

Total Long-Term Investments — 108.5%

 

   

(Cost: $556,582,134)

        623,064,582  
    

 

 

  
    
     Shares          
Short-Term Securities  

Money Market Funds — 2.2%

     

BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.01%(k)(l)

     12,505,115        12,507,616  
    

 

 

  

Total Short-Term Securities — 2.2% (Cost: $12,507,616)

 

      12,507,616  
    

 

 

  

Total Investments — 110.7%
(Cost: $569,089,750)

 

      635,572,198  

Other Assets Less Liabilities — 0.3%

 

      1,620,620  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (11.0)%

 

      (62,938,122 ) 
    

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

    $ 574,254,696  
    

 

 

  

 

(a) 

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.

(b) 

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.

(c)

Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

(d) 

Zero-coupon bond.

(e) 

Issuer filed for bankruptcy and/or is in default.

(f) 

Non-income producing security.

(g) 

U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

(h) 

When-issued security.

 

 

 

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

   7

Schedule of Investments  (unaudited) (continued)

July 31, 2021

   

BlackRock MuniAssets Fund, Inc. (MUA)

 

(i)   

Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing.

(j)   

All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between February 15, 2047 to November 15, 2051, is $4,275,810.

(k)  

Affiliate of the Fund.

(l)   

Annualized 7-day yield as of period end.

 

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer    Value at
04/30/21		      Purchases
at Cost		      Proceeds
from Sales		      Net
Realized
Gain (Loss)		      Change in
Unrealized
Appreciation
(Depreciation)		      Value at
07/31/21		      Shares
Held at
07/31/21		      Income      Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, MuniCash, Institutional Class

    $ —      $ 12,507,616 (a)     $ —      $ —      $ —      $ 12,507,616        12,505,115      $ 143      $ —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  

 

  (a)

Represents net amount purchased (sold).

 

 

 

 

 

 

 

 

 

 

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 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

    $ —        $ 519,122,878        $ —        $ 519,122,878  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —          103,941,704          —          103,941,704  

Short-Term Securities

                  

Money Market Funds

      12,507,616          —          —          12,507,616  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 12,507,616        $ 623,064,582        $             —        $ 635,572,198  
  

 

 

       

 

 

       

 

 

       

 

 

  

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, TOB Trust Certificates of $62,928,098 are categorized as Level 2 within the fair value hierarchy.

 

 

8  

Schedule of Investments  (unaudited) (continued)

July 31, 2021

   

BlackRock MuniAssets Fund, Inc. (MUA)

 

Portfolio Abbreviation
AGM    Assured Guaranty Municipal Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAB    Build America Bond
CAB    Capital Appreciation Bonds
GO    General Obligation Bonds
GTD    GTD Guaranteed
M/F    Multi-Family
RB    Revenue Bond
SAB    Special Assessment Bonds
ST    Special Tax
TA    Tax Allocation
 

 

 

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

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