NPORT-EX 1 NPORT_5751668883313007.htm EX-MVF

Schedule of Investments  (unaudited)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds — 122.2%

 

Alabama — 1.8%  

City of Selma Alabama IDB, RB, Gulf Opportunity Zone, International Paper Co. Project, Series A:

    

5.80%, 05/01/34

   $ 1,850     $ 1,915,601  

5.38%, 12/01/35

     1,000       1,082,780  

State of Alabama Docks Department, Refunding RB, 6.00%, 10/01/20(a)

     7,610       8,068,807  
   

 

 

  
      11,067,188  
Alaska — 0.6%  

City of Anchorage Alaska Electric Revenue, Refunding RB, Series A, 5.00%, 12/01/41

     3,000       3,392,100  
   

 

 

  
Arizona — 4.9%  

Arizona IDA, Refunding RB, Basis Schools, Inc. Projects, Series A, 5.38%, 07/01/50(b)

     2,500       2,693,950  

City of Phoenix Arizona Civic Improvement Corp., Refunding RB, Junior Lien, Series A, 5.00%, 07/01/20(a)

     2,000       2,075,660  

City of Phoenix Arizona IDA, RB, Candeo School, Inc. Project:

    

6.63%, 07/01/33

     2,245       2,535,593  

6.88%, 07/01/44

     3,440       3,868,899  

City of Phoenix Arizona IDA, Refunding RB(b):

    

Basis Schools, Inc. Projects, 5.00%, 07/01/35

     600       640,728  

5.00%, 07/01/45

     760       798,935  

Basis Schools, Inc. Projects, Series A, 5.00%, 07/01/35

     1,125       1,201,365  

Legacy Traditional School Projects, 5.00%, 07/01/45

     700       734,706  

County of Maricopa Arizona Pollution Control Corp., Refunding RB, Southern California Edison Co., Series A, 5.00%, 06/01/35

     3,300       3,373,755  

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

     9,805       12,685,022  
   

 

 

  
      30,608,613  
Arkansas — 0.6%  

Arkansas Development Finance Authority, RB, Big River Steel Project, AMT, 4.50%, 09/01/49(b)

     3,790       3,902,753  
   

 

 

  
California — 6.3%  

California Educational Facilities Authority, RB, Stanford University, Series V-1, 5.00%, 05/01/49

     4,835       7,122,197  

 

Security   Par
(000)		     Value  
California (continued)  

California Health Facilities Financing Authority, RB:

    

St. Joseph Health System, Series A, 5.75%, 07/01/39

   $ 5,000     $ 5,015,700  

Sutter Health, Series B, 6.00%, 08/15/20(a)

     5,600       5,910,856  

California Health Facilities Financing Authority, Refunding RB, Dignity Health, Series A, 6.00%, 07/01/19(a)

     1,055       1,058,597  

California Municipal Finance Authority, ARB, Senior Lien, Linxs APM Project, AMT, 5.00%, 12/31/43

     2,800       3,250,016  

Golden State Tobacco Securitization Corp., Refunding RB, Series A-1:

    

5.00%, 06/01/47

     855       848,194  

5.25%, 06/01/47

     1,025       1,031,468  

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

     9,585       9,656,408  

Oakland Unified School District/Alameda County, GO, Series A, 5.00%, 08/01/40

     1,000       1,134,760  

Poway Unified School District, GO, Refunding, CAB, School Facilities Improvement District No. 2007-1, Election of 2008, Series B, 0.00%, 08/01/46(c)

     10,000       3,918,900  
   

 

 

  
      38,947,096  
Colorado — 0.9%  

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

     1,025       1,063,499  

Colorado Health Facilities Authority, RB, Catholic Health Initiatives, Series D, 6.25%, 10/01/33

     2,500       2,517,750  

Copperleaf Metropolitan District No. 2, GO, Refunding, 5.75%, 12/01/45

     1,000       1,049,330  

Serenity Ridge Metropolitan District No 2, GO, Series A, 5.13%, 12/01/43

     1,000       1,039,370  
   

 

 

  
      5,669,949  
Connecticut — 0.6%  

State of Connecticut, GO, Series A, 5.00%, 04/15/38

     3,325       3,940,258  
   

 

 

  
Delaware — 0.9%  

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

     2,500       2,635,550  
 

 

 

     1  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Delaware (continued)  

State of Delaware Health Facilities Authority, RB, Beebe Medical Center Project, 5.00%, 06/01/43

   $ 2,780     $ 3,186,575  
   

 

 

  
      5,822,125  
District of Columbia — 0.2%  

Metropolitan Washington Airports Authority, Refunding RB, Dulles Toll Road, 1st Senior Lien, Series A:

    

5.00%, 10/01/39

     415       418,984  

5.25%, 10/01/44

     650       656,208  
   

 

 

  
      1,075,192  
Florida — 7.8%  

Celebration Pointe Community Development District, Special Assessment Bonds, County of Alachua Florida(b):

    

5.00%, 05/01/32

     905       969,327  

5.00%, 05/01/48

     2,270       2,353,899  

Central Florida Expressway Authority, Refunding RB, Senior Lien, 5.00%, 07/01/48

     9,370       11,115,537  

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

     3,750       4,074,150  

County of Miami-Dade Florida Aviation, Refunding ARB, Miami International Airport, Series A-1, 5.38%, 10/01/20(a)

     10,290       10,819,318  

County of Miami-Dade Florida Educational Facilities Authority, Refunding RB, University of Miami, Series A, 5.00%, 04/01/45

     4,625       5,158,448  

County of Miami-Dade Florida Expressway Authority, Refunding RB, Series A (AGM), 5.00%, 07/01/35

     8,900       9,204,558  

Florida Higher Educational Facilities Financial Authority, Refunding RB, Saint Leo University Project:

    

5.00%, 03/01/39

     940       1,065,452  

5.00%, 03/01/44

     755       850,417  

5.00%, 03/01/49

     905       1,015,401  

Lakewood Ranch Stewardship District, Special Assessment Bonds, Lakewood National & Polo Run Projects:

    

4.63%, 05/01/27

     255       267,034  

5.25%, 05/01/37

     470       501,922  
Security   Par
(000)		     Value  
Florida (continued)  

5.38%, 05/01/47

   $ 770     $ 819,657  
   

 

 

  
      48,215,120  
Georgia — 1.4%  

City of Atlanta Georgia Department of Aviation, Refunding GARB, Series B, AMT, 5.00%, 01/01/29

     1,070       1,122,152  

County of Fulton Development Authority, RB, Georgia Institute of Technology, 4.00%, 06/15/49

     1,575       1,723,428  

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

     3,335       3,386,125  

Main Street Natural Gas, Inc., RB, Series A, 5.00%, 05/15/49

     1,855       2,456,113  
   

 

 

  
      8,687,818  
Hawaii — 0.8%  

State of Hawaii Harbor System, RB, Series A, 5.50%, 07/01/35

     5,000       5,204,700  
   

 

 

  
Illinois — 11.5%  

Chicago Board of Education, GO, Series C:

    

Dedicated Revenues, Series H, 5.00%, 12/01/36

     865       951,266  

Project, 5.25%, 12/01/35

     2,785       3,022,477  

Chicago Board of Education, GO, Refunding, Dedicated Revenues:

    

Series D, 5.00%, 12/01/25

     1,560       1,745,437  

Series G, 5.00%, 12/01/25

     1,200       1,342,644  

5.00%, 12/01/34

     865       957,088  

Chicago Board of Education, GO, Series D:

    

5.00%, 12/01/46

     995       1,084,431  

5.00%, 12/01/46

     2,575       2,707,149  

City of Chicago Illinois O’Hare International Airport, GARB, Senior Lien, Series D, AMT, 5.00%, 01/01/42

     1,450       1,659,540  

City of Chicago Illinois Transit Authority, RB, Sales Tax Receipts, 5.25%, 12/01/36

     2,110       2,233,076  

City of Chicago Illinois Wastewater Transmission, Refunding RB, 2nd Lien, Series C, 5.00%, 01/01/39

     1,000       1,095,620  
 

 

 

2   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security
   Par
(000)		     Value  
Illinois (continued)  

County of Cook Illinois Community College District No. 508, GO, University & College Improvements, 5.25%, 12/01/31

   $ 5,000     $ 5,331,200  

Illinois Finance Authority, RB, Memorial Health System, Series A, 5.25%, 07/01/44

     1,785       1,955,164  

Illinois Finance Authority, Refunding RB:

    

Northwestern Memorial Hospital, Series A, 6.00%, 08/15/19(a)

     9,000       9,079,920  

OSF Healthcare System, 6.00%, 05/15/20(a)

     3,205       3,338,873  

6.00%, 05/15/39

     525       549,838  

Presence Health Network, Series C, 5.00%, 02/15/41

     3,600       4,175,388  

Metropolitan Pier & Exposition Authority, RB, McCormick Place Expansion Project Bonds, Series A, 5.00%, 06/15/57

     425       461,533  

Metropolitan Pier & Exposition Authority, Refunding RB, Mccormick Place Expansion (BAM)(c):

    

0.00%, 12/15/54

     12,215       3,020,403  

0.00%, 12/15/56

     8,755       1,982,307  

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

     2,645       2,877,681  

Regional Transportation Authority, RB:

    

Series A (AMBAC), 7.20%, 11/01/20

     850       893,486  

Series C (NPFGC), 7.75%, 06/01/20

     805       830,011  

State of Illinois, GO, Series D, 5.00%, 11/01/28

     1,965       2,259,770  

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

     7,990       9,459,281  

Village of Hodgkins Illinois, RB, Metropolitan Biosolids Management LLC Project, AMT, 6.00%, 11/01/23

     8,565       8,577,162  
   

 

 

  
      71,590,745  
Indiana — 1.7%  

City of Valparaiso Indiana, RB, Exempt Facilities, Pratt Paper LLC Project, AMT, 6.75%, 01/01/34

     2,250       2,615,872  

County of Allen Indiana, RB, StoryPoint Fort Wayne Project, Series A-1(b):

    

6.63%, 01/15/34

     700       759,262  

6.75%, 01/15/43

     570       618,587  

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

     2,640       2,874,432  
Security   Par
(000)		     Value  
Indiana (continued)  

State of Indiana Finance Authority, Refunding RB, Deaconess Health System, Series A, 5.00%, 03/01/39

   $ 3,000     $ 3,360,660  
   

 

 

  
      10,228,813  
Iowa — 1.6%  

Iowa Finance Authority, Refunding RB, Midwestern Disaster Area, Iowa Fertilizer Co. Project, 5.25%, 12/01/25

     4,000       4,347,520  

Iowa Tobacco Settlement Authority, Refunding RB, Asset-Backed, CAB, Series B, 5.60%, 06/01/34

     1,000       1,000,000  

State of Iowa Finance Authority, RB, Lifespace Communities, Series A, 5.00%, 05/15/48

     3,950       4,328,608  
   

 

 

  
      9,676,128  
Kansas — 1.0%  

City of Lenexa Kansas, Refunding RB, Lakeview Village, Inc., Series A, 5.00%, 05/15/43

     1,965       2,133,813  

Wyandotte County-Kansas City Unified Government Utility System, RB, Series A, 5.00%, 09/01/40

     3,700       4,218,111  
   

 

 

  
      6,351,924  
Kentucky — 1.3%  

County of Owen Kentucky, RB, Kentucky American Water Co. Project, Series B, 5.63%, 09/01/39

     1,000       1,009,020  

Lexington-Fayette Urban County Airport Board, Refunding GARB, Series A, 5.00%, 07/01/19(a)

     7,000       7,018,970  
   

 

 

  
      8,027,990  
Louisiana — 3.3%  

Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Westlake Chemical Corp. Project, Series A-1, 6.50%, 11/01/35

     2,615       2,777,496  

Parish of St. Charles Louisiana, RB, Valero Energy Corp., 4.00%, 12/01/40(d)

     2,210       2,332,456  

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

    

5.25%, 05/15/31

     3,420       3,606,972  

5.25%, 05/15/32

     4,375       4,719,925  

5.25%, 05/15/33

     4,750       5,106,250  
 

 

 

     3  

 

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Louisiana (continued)  

5.25%, 05/15/35

   $ 1,500     $ 1,637,580  
   

 

 

  
      20,180,679  
Maine — 0.8%  

Maine Health & Higher Educational Facilities Authority, RB, Series A:

    

5.00%, 07/01/19(a)

     1,560       1,564,103  

5.00%, 07/01/39

     3,440       3,447,568  
   

 

 

  
      5,011,671  
Maryland — 3.2%  

City of Baltimore Maryland, Refunding RB, East Baltimore Research Park, Series A, 4.50%, 09/01/33

     545       576,893  

County of Howard Maryland Housing Commission, RB, M/F Housing, Woodfield Oxford Square Apartments, 5.00%, 12/01/42

     4,935       5,671,450  

Maryland Health & Higher Educational Facilities Authority, Refunding RB:

    

Charlestown Community Project, 6.25%, 01/01/21(a)

     2,000       2,146,000  

Meritus Medical Center Issue, 5.00%, 07/01/40

     6,350       7,142,544  

University of Maryland Medical System, 5.00%, 07/01/19(a)

     1,990       1,995,313  

5.13%, 07/01/19(a)

     2,100       2,105,796  
   

 

 

  
      19,637,996  
Massachusetts — 2.3%  

Massachusetts Development Finance Agency, RB:

    

Emerson College Issue, Series A, 5.00%, 01/01/47

     845       954,504  

5.25%, 01/01/42

     1,895       2,181,391  

UMass Dartmouth Student Housing Project, 5.00%, 10/01/43

     4,480       5,106,125  

Massachusetts Development Finance Agency, Refunding RB, Series A:

    

Atrius Health Issue, 4.00%, 06/01/49

     610       641,342  

Emerson College, 5.00%, 01/01/40

     1,620       1,868,686  

4.00%, 07/01/44

     405       429,114  

Massachusetts HFA, Refunding RB, Series C, AMT, 5.35%, 12/01/42

     2,120       2,141,200  
Security   Par
(000)		     Value  
Massachusetts (continued)  

Massachusetts Water Resources Authority, RB, Series A, 6.50%, 07/15/19(e)

   $ 1,070     $ 1,076,195  
   

 

 

  
      14,398,557  
Michigan — 0.7%  

City of Detroit Michigan Water Supply System Revenue, RB, 2nd Lien, Series B (AGM), 6.25%, 07/01/19(a)

     2,495       2,503,882  

Michigan Strategic Fund, RB, I-75 Improvement Projects, AMT, 5.00%, 06/30/48

     1,775       2,063,029  
   

 

 

  
      4,566,911  
Minnesota — 0.7%  

City of Cologne Minnesota Charter School, LRB, Cologne Academy Project, Series A, 5.00%, 07/01/45

     1,500       1,563,330  

County of St. Paul Minnesota Housing & Redevelopment Authority, Refunding RB, Fairview Health Services, Series A, 4.00%, 11/15/43

     1,940       2,087,537  

Housing & Redevelopment Authority of The City of Saint Paul Minnesota, RB, Great River School Project, Series A, 5.50%, 07/01/52(b)

     695       734,365  
   

 

 

  
      4,385,232  
Mississippi — 4.1%  

County of Lowndes Mississippi, Refunding RB, Solid Waste Disposal & Pollution Control, Weyerhaeuser Co. Project:

    

Series A, 6.80%, 04/01/22

     9,160       10,174,836  

Series B, 6.70%, 04/01/22

     4,500       4,986,360  

Mississippi Development Bank, Refunding RB, Municipal Energy Agency Of Mississippi, Series A (AGM), 4.00%, 03/01/41

     3,000       3,161,580  

State of Mississippi, RB, Series A:

    

5.00%, 10/15/37

     1,105       1,335,702  

4.00%, 10/15/38

     5,535       5,969,332  
   

 

 

  
      25,627,810  
Montana — 0.1%  

Montana State Board of Housing, RB, S/F, Series B-2:

    

3.50%, 12/01/42

     335       337,472  
 

 

 

4   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Montana (continued)  

3.60%, 12/01/47

   $ 515     $ 518,636  
   

 

 

  
      856,108  
Nebraska — 1.1%  

Central Plains Nebraska Energy Project, RB, Gas Project No. 3, 5.00%, 09/01/42

     6,200       6,723,900  
   

 

 

  
Nevada — 2.4%  

City of Carson City Nevada, Refunding RB, Carson Tahoe Regional Healthcare Project, 5.00%, 09/01/42

     2,250       2,526,637  

City of Reno Nevada, Refunding RB, Series A-1 (AGM), 4.00%, 06/01/43

     5,230       5,564,354  

County of Clark Nevada, GO, Stadium Improvement, Series A:

    

5.00%, 06/01/36

     4,080       4,979,232  

5.00%, 06/01/37

     1,500       1,824,090  
   

 

 

  
      14,894,313  
New Jersey — 11.9%  

Casino Reinvestment Development Authority, Refunding RB, 5.25%, 11/01/44

     1,400       1,516,858  

New Jersey EDA, RB:

    

Continental Airlines, Inc. Project, Series A, AMT, 5.63%, 11/15/30

     1,530       1,755,522  

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

     10,000       11,184,900  

5.13%, 01/01/34

     1,050       1,179,045  

School Facilities Construction, Series UU, 5.00%, 06/15/40

     3,390       3,669,234  

New Jersey EDA, Refunding RB, School Facilities Construction:

    

5.25%, 06/15/19(a)

     2,650       2,653,101  

Series AA, 5.25%, 06/15/19(a)

     700       700,819  

Series AA, 5.25%, 12/15/33

     6,650       6,657,647  

New Jersey Housing & Mortgage Finance Agency, Refunding RB, S/F Housing, Series BB, AMT, 3.80%, 10/01/32

     4,775       5,040,395  

New Jersey Transportation Trust Fund Authority, RB:

    

CAB, Transportation System, Series A, 0.00%, 12/15/38(c)

     7,260       3,584,625  

Transportation Program, Series AA,

    

5.25%, 06/15/33

     8,750       9,586,937  

5.25%, 06/15/41

     780       866,900  
Security   Par
(000)		     Value  
New Jersey (continued)  

Series B, 5.50%, 06/15/31

   $ 8,000     $ 8,537,840  

Series AA, 5.00%, 06/15/44

     4,450       4,825,847  

New Jersey Transportation Trust Fund Authority, Refunding RB, Transportation System, Series A, 5.00%, 12/15/32

     5,430       6,355,272  

Tobacco Settlement Financing Corp., Refunding RB:

    

Series A, 5.25%, 06/01/46

     4,550       5,189,866  

Sub-Series B, 5.00%, 06/01/46

     665       710,147  
   

 

 

  
      74,014,955  
New York — 4.4%  

Build NYC Resource Corp., Refunding RB, Pratt Paper, Inc. Project, AMT, 5.00%, 01/01/35(b)

     2,145       2,338,972  

City of New York Water & Sewer System, Refunding RB, 2nd General Resolution, Series FF-2, 5.50%, 06/15/40

     3,315       3,324,813  

Counties of New York Tobacco Trust IV, Refunding RB, Settlement Pass-Through Turbo, Series A, 6.25%, 06/01/41(b)

     3,500       3,584,035  

Erie Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed, Series A, 5.00%, 06/01/45

     4,435       4,434,867  

New York Counties Tobacco Trust IV, Refunding RB, Tobacco Settlement Pass-Through Bonds, Series A, 5.00%, 06/01/38

     3,675       3,675,000  

New York Liberty Development Corp., Refunding RB, 3 World Trade Center Project, Class 2(b):

    

5.15%, 11/15/34

     460       514,257  

5.38%, 11/15/40

     1,145       1,275,221  

Port Authority of New York & New Jersey, ARB, Special Project, JFK International Air Terminal LLC Project, Series 8, 6.00%, 12/01/36

     3,165       3,352,083  

TSASC, Inc., Refunding RB, Series A, 5.00%, 06/01/41

     1,785       1,939,902  
 

 

 

     5  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
New York (continued)  

Westchester New York Tobacco Asset Securitization, Refunding RB, Tobacco Settlement Bonds, Sub-Series C, 5.13%, 06/01/51

   $ 2,740     $ 2,822,337  
   

 

 

  
      27,261,487  
Ohio — 4.4%  

Buckeye Tobacco Settlement Financing Authority, RB, Asset-Backed, Senior Turbo Term, Series A-2:

    

5.75%, 06/01/34

     950       906,670  

5.88%, 06/01/47

     2,525       2,426,979  

County of Allen Ohio Hospital Facilities Revenue, Refunding RB, Catholic Healthcare Partners, Series A, 5.25%, 06/01/20(a)

     2,875       2,979,564  

County of Butler Port Authority, RB, StoryPoint Fairfield Project, Series A-1(b):

    

6.38%, 01/15/43

     675       716,891  

6.50%, 01/15/52

     390       413,221  

County of Franklin Ohio, RB, Health Care Facilities Improvement, OPRS Communities Obligation Group, Series A, 6.13%, 07/01/40

     1,690       1,849,485  

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

     1,915       2,143,708  

County of Montgomery Ohio, RB, Catholic Health Initiatives, Series D-2, 5.45%, 10/01/38

     7,430       8,466,188  

County of Montgomery Ohio, Refunding RB, Catholic Health, Series A, 5.50%, 05/01/34

     3,560       3,571,072  

State of Ohio, RB, Cleveland Clinic Health System Obligation, Series B, 4.00%, 01/01/46

     3,275       3,581,245  
   

 

 

  
      27,055,023  
Oklahoma — 0.4%  

Oklahoma Development Finance Authority, RB, OU Medicine Project, Series B, 5.25%, 08/15/48

     2,205       2,557,580  
   

 

 

  
Oregon — 0.2%  

State of Oregon Health & Science University, RB, Series A, 5.00%, 07/01/42

     800       946,512  
   

 

 

  
Pennsylvania — 8.4%  

Allentown Neighborhood Improvement Zone Development Authority, RB, City Center Project, 5.00%, 05/01/42(b)

     1,725       1,887,392  
Security   Par
(000)		     Value  
Pennsylvania (continued)  

Altoona Area School District, GO, 5.00%, 12/01/36

   $ 365     $ 420,082  

County of Delaware Pennsylvania IDA, Refunding RB, Covanta Project, 5.00%, 07/01/43

     5,000       5,063,000  

County of Delaware Springfield School District, GO:

    

5.00%, 03/01/40

     2,955       3,499,961  

5.00%, 03/01/43

     2,145       2,534,339  

County of Montgomery Higher Education & Health Authority, Refunding RB, Thomas Jefferson University, Series A, 5.00%, 09/01/48

     3,330       3,888,241  

County of Montgomery Pennsylvania IDA, Refunding RB, Whitemarsh Continuing Care Retirement Community, 5.25%, 01/01/40

     4,170       4,258,612  

County of Northampton Pennsylvania General Purpose Authority, Refunding RB, Lafayette College, 4.00%, 11/01/38

     1,855       2,037,606  

County of Westmoreland Pennsylvania Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/36

     4,385       5,259,106  

Pennsylvania Economic Development Financing Authority, RB, Pennsylvania Rapid Bridge Replacement, 5.00%, 12/31/38

     2,565       2,902,272  

Pennsylvania HFA, RB, S/F Housing Mortgage, AMT, Series 118-B, 4.05%, 10/01/40

     3,850       4,024,752  

Pennsylvania Housing Finance Agency, RB, S/F, Series 125B, 3.65%, 10/01/42

     7,000       7,248,220  

Pennsylvania Turnpike Commission, Refunding RB, 2nd Series, Subordinate, Special Motor License Fund, 5.00%, 12/01/41

     1,700       1,976,386  

Pennsylvania Turnpike Commission, RB:

    

Series A-1, 5.00%, 12/01/41

     440       510,088  

Sub-Series B-1, 5.25%, 06/01/47

     5,680       6,623,675  
   

 

 

  
      52,133,732  
Puerto Rico — 4.1%  

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

    

5.50%, 05/15/39

     1,340       1,354,070  

5.63%, 05/15/43

     1,335       1,348,791  
 

 

 

6   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Puerto Rico (continued)  

Commonwealth of Puerto Rico Aqueduct & Sewer Authority, RB, Senior Lien, Series A, 5.00%, 07/01/33

   $ 3,820     $ 3,791,350  

Commonwealth of Puerto Rico Aqueduct & Sewer Authority, Refunding RB, Senior Lien, Series A:

    

6.00%, 07/01/38

     1,360       1,360,000  

6.00%, 07/01/44

     2,455       2,455,000  

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

    

Series A-1, 4.50%, 07/01/34

     51       52,275  

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

     2,038       1,966,038  

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

     10,829       10,764,567  

Series A-2, 5.00%, 07/01/58

     2,520       2,409,750  
   

 

 

  
      25,501,841  
Rhode Island — 1.5%  

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

    

4.50%, 06/01/45

     6,820       6,933,826  

5.00%, 06/01/50

     2,000       2,096,920  
   

 

 

  
      9,030,746  
South Carolina — 1.8%  

State of South Carolina Jobs EDA, Refunding RB, Prisma Health Obligated Group, Series A, 5.00%, 05/01/43

     2,690       3,128,255  

State of South Carolina Public Service Authority, RB, Series E, 5.50%, 12/01/53

     750       836,437  

5.25%, 12/01/55

     6,450       7,392,603  
   

 

 

  
      11,357,295  
Texas — 12.1%  

Central Texas Regional Mobility Authority, RB, Senior Lien, Series A:

    

5.00%, 01/01/40

     1,215       1,370,617  

5.00%, 01/01/45

     3,500       3,924,235  

Central Texas Regional Mobility Authority, Refunding RB, Senior Lien:

    

5.75%, 01/01/21(a)

     1,000       1,065,250  

6.00%, 01/01/21(a)

     4,300       4,597,216  

Series A, 5.00%, 01/01/43

     6,925       7,496,797  

City of Houston Texas Airport System, Refunding ARB, United Airlines, Inc. Terminal E Project, AMT, 5.00%, 07/01/29

     2,665       2,969,343  
Security   Par
(000)		     Value  
Texas (continued)  

City of Houston Texas Airport System Revenue, Refunding RB, Sub-Series D, 5.00%, 07/01/37

   $ 4,005     $ 4,858,105  

County of Harris Texas Cultural Education Facilities Finance Corp., RB, 1st Mortgage, Brazos Presbyterian Homes, Inc. Project, Series B, 7.00%, 01/01/23(a)

     850       1,011,798  

County of Tarrant Texas Cultural Education Facilities Finance Corp., RB, Scott & White Healthcare, 6.00%, 08/15/20(a)

     4,630       4,876,733  

County of Tarrant Texas Cultural Education Facilities Finance Corp., Refunding RB, Trinity Terrace Project, 5.00%, 10/01/44

     3,500       3,770,025  

La Vernia Higher Education Finance Corp., RB, KIPP, Inc., Series A, 6.25%, 08/15/19(a)

     925       933,566  

Love Field Airport Modernization Corp., RB, Southwest Airlines Co. Project, 5.25%, 11/01/40

     1,100       1,145,144  

New Hope Cultural Education Facilities Corp., RB:

    

Collegiate Housing Tarleton State University Project, 5.00%, 04/01/35

     500       540,285  

Jubilee Academic Center Project, Series A, 5.00%, 08/15/37(b)

     2,000       2,041,140  

New Hope Cultural Education Facilities Corp., Refunding RB, 1st Mortgage, Morningside Ministries Project, 6.25%, 01/01/33

     1,600       1,753,360  

North Texas Education Finance Corp., ERB, Uplift Education, Series A, 5.13%, 12/01/42

     1,000       1,054,210  

North Texas Tollway Authority, Refunding RB, Series A:

    

5.00%, 01/01/38

     5,000       5,690,150  

1st Tier System, 6.25%, 01/01/39

     655       657,181  

1st Tier, 5.00%, 01/01/48

     5,350       6,279,241  

State of Texas, GO, VRDN, Series B,
1.65%, 12/01/43(d)

     5,440       5,440,000  

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

    

LBJ Infrastructure Group LLC, 7.00%, 06/30/40

     8,000       8,438,800  
 

 

 

     7  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Texas (continued)  

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

   $ 4,710     $ 4,846,025  
   

 

 

  
      74,759,221  
Virginia — 4.1%  

Ballston Quarter Community Development Authority, Tax Allocation Bonds, Series A:

    

5.38%, 03/01/36

     430       457,223  

5.50%, 03/01/46

     1,475       1,569,415  

City of Portsmouth Virginia, GO, Refunding Series D, 5.00%, 07/15/20(a)

     3,030       3,148,715  

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

     3,665       3,611,601  

Virginia Small Business Financing Authority, RB, AMT:

    

Senior Lien, Elizabeth River Crossings OpCo LLC Project, 6.00%, 01/01/37

     2,150       2,379,427  

5.50%, 01/01/42

     5,140       5,571,349  

Transform 66 P3 Project, 5.00%, 12/31/49

     7,895       8,809,478  
   

 

 

  
      25,547,208  
Washington — 3.8%  

Port of Seattle Washington, ARB, AMT:

    

Intermediate Lien, Series C, 5.00%, 05/01/37

     4,905       5,737,820  

Series A, 5.00%, 05/01/43

     1,295       1,494,805  

State of Washington, COP, Series B:

    

5.00%, 07/01/36

     1,725       2,093,512  

5.00%, 07/01/38

     2,300       2,763,956  

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

     4,010       4,537,395  
Security   Par
(000)		     Value  
Washington (continued)  

Washington Health Care Facilities Authority, Refunding RB, Catholic Health Initiatives, Series D, 6.38%, 10/01/36

   $ 7,000     $ 7,025,970  
   

 

 

  
    23,653,458  
West Virginia — 0.4%  

West Virginia Hospital Finance Authority, Refunding RB, Improvement, Charleston Area Medical Center, Inc., Series A, 5.63%, 09/01/32

     2,500       2,524,950  
   

 

 

  
Wisconsin — 0.8%  

Wisconsin Health & Educational Facilities Authority, Refunding RB, Milwaukee Regional Medical Center Thermal Service, 5.00%, 04/01/44

     4,080       4,838,431  
   

 

 

  
Wyoming — 1.3%  

County of Sweetwater Wyoming, Refunding RB, Idaho Power Co. Project, Remarketing, 5.25%, 07/15/26

     4,500       4,534,200  

State of Wyoming Municipal Power Agency, Inc., Refunding RB, Series A (BAM), 5.00%, 01/01/42

     1,120       1,291,730  

Wyoming Community Development Authority, Refunding RB, Series 2 & 3, 4.05%, 12/01/38

     2,215       2,271,571  
   

 

 

  
    8,097,501  
   

 

 

  

Total Municipal Bonds — 122.2%
(Cost — $712,768,920)

 

     757,971,629  
   

 

 

  
 

 

 

8   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds Transferred to Tender Option Bond Trusts(f)

 

Arizona — 0.6%

 

City of Phoenix Civic Improvement Corp., Refunding RB, Water System, Junior Lien, Series A, 5.00%, 07/01/19(a)

   $ 3,500     $ 3,508,943  
   

 

 

  
California — 2.8%  

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

     14,998       17,561,675  
   

 

 

  
Colorado — 1.3%  

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

     6,504       7,903,457  
   

 

 

  
Florida — 2.5%  

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

     14,747       15,432,660  
   

 

 

  
Illinois — 2.0%  

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

     10,976       12,650,742  
   

 

 

  
Kentucky — 1.5%  

County of Louisville & Jefferson Kentucky Metropolitan Government Parking Authority, RB, River City, Inc., 1st Mortgage, Series A, 5.38%, 12/01/19(a)

     9,195       9,367,927  
   

 

 

  
Louisiana — 2.9%  

City of Shreveport Louisiana Water & Sewer Revenue, RB, Junior Lien, Series B:

    

4.00%, 12/01/44

     6,659       7,363,862  

4.00%, 12/01/49

     10,016       10,829,301  
   

 

 

  
      18,193,163  
Maryland — 2.0%  

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

     4,898       5,750,361  
Security   Par
(000)		     Value  
Maryland (continued)  

Maryland Stadium Authority, RB, Construction and Revitalization Program, 5.00%, 05/01/47

   $ 5,509     $ 6,511,382  
   

 

 

  
    12,261,743  
Nevada — 2.5%  

County of Clark Nevada Water Reclamation District, GO, Series B, 5.75%, 07/01/19(a)

     15,789       15,840,995  
   

 

 

  
New York — 1.8%  

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

     10,001       10,966,145  
   

 

 

  
Oregon — 0.3%  

State of Oregon Housing & Community Services Department, HRB, M/F Housing, Series A, AMT, 4.95%, 07/01/30

     1,604       1,620,606  
   

 

 

  
Pennsylvania — 2.0%  

Commonwealth of Pennsylvania, GO, 1st Series, 4.00%, 03/01/38(g)

     7,250       7,930,267  

County of Westmoreland Pennsylvania Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/38

     3,925       4,489,859  
   

 

 

  
    12,420,126  
Texas — 5.7%  

City of Houston Texas Higher Education Finance Corp., RB, Rice University Project, Series A, 5.00%, 05/15/20(a)

     10,000       10,327,728  

County of Harris Texas Health Facilities Development Corp., Refunding RB, School Health Care System, Series B, 5.75%, 07/01/27(e)

     20,370       24,847,224  
   

 

 

  
    35,174,952  
Virginia — 2.1%  

County of Fairfax Virginia EDA, RB, Metrorail Parking System Project, 5.00%, 04/01/47(g)

     6,960       8,214,088  
 

 

 

     9  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Virginia (continued)  

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

   $ 5,002     $ 5,149,327  
   

 

 

  
    13,363,415  
Washington — 2.0%  

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

     10,000       12,151,850  
   

 

 

  
Security                  Value  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 32.0%
(Cost — $186,606,745)

   $ 198,418,399  
   

 

 

  

Total Long-Term Investments — 154.2%
(Cost — $899,375,665)

     956,390,028  

Other Assets Less Liabilities — 1.9%

     11,976,718  

Liability for TOB Trust Certificates, Including Interest Expense and Fees
Payable — (16.8)%

     (104,250,561 ) 

VMTP Shares, at Liquidation Value — (39.3)%

     (243,800,000 ) 
   

 

 

  

Net Assets Applicable to Common
Shares — 100.0%

   $ 620,316,185  
   

 

 

  
 
(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) 

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) 

Zero-coupon bond.

(d) 

Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end.

(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 Trust. 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 Trust could ultimately be required to pay under the agreements, which expire between November 15, 2019 to June 01, 2026, is $16,153,828.

During the period ended May 31, 2019, investments in issuers considered to be an affiliate/affiliates of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate     

 Shares
Held at

08/31/18
 

 

     
 Net
Activity
 		     

 Shares
Held at

05/31/19
 

 

     
 Value at
05/31/19
 		      Income       


 Net

Realized
Gain (Loss) (a)

  


 

     


 Change in
Unrealized
Appreciation
(Depreciation)

 
 

BlackRock Liquidity Funds, MuniCash, Institutional Class*

      159,172        (159,172 )       —      $ —      $ 44,874      $ 895      $ —  
           

 

 

     

 

 

     

 

 

     

 

 

  

 

  *

No longer held by the Fund as of period end.

 
  (a) 

Includes net capital gain distributions, if applicable.

 

Portfolio Abbreviations

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.

CAB — Capital Appreciation Bonds

COP — Certificates of Participation

 

 

10   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

 

EDA — Economic Development Authority

ERB — Education Revenue Bonds

GARB — General Airport Revenue Bonds

GO — General Obligation Bonds

HFA — Housing Finance Agency

HRB — Housing Revenue Bonds

IDA — Industrial Development Authority

IDB — Industrial Development Board

LRB — Lease Revenue Bonds

M/F — Multi-Family

NPFGC — National Public Finance Guarantee Corp.

RB — Revenue Bonds

S/F — Single-Family

VRDN — Variable Rate Demand Notes

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

      74          09/19/19        $ 9,380        $ (62,153 ) 

Long U.S. Treasury Bond

      192          09/19/19          29,514          (307,182 ) 

5-Year U.S. Treasury Note

      24          09/30/19          2,817          (11,475 ) 
                 

 

 

  
                  $ (380,810 ) 
                 

 

 

  

 

 

     11  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

BlackRock MuniVest Fund, Inc. (MVF)

    

 

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 Trust 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 Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments, refer to the Fund’s most recent financial statements as contained in its semi-annual report.

The following tables summarizes the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

      Level 1        Level 2        Level 3        Total  

Assets:

                 

Investments:

                 

Long-Term Investments(a)

    $ —        $ 956,390,028        $             —        $ 956,390,028  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(b)

                  

Liabilities:

                 

Interest rate contracts

   $ (380,810 )       $ —        $ —        $ (380,810 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

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

 
  (b) 

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

 

The Trust 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

   $             —        $ (103,822,772 )       $             —        $ (103,822,772 ) 

VMTP Shares at Liquidation Value

     —          (243,800,000 )         —          (243,800,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ —        $ (347,622,772 )       $ —        $ (347,622,772 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

 

12