NPORT-EX 2 NPORT_2768651742517652.htm EX-MYI

 

Schedule of Investments  (unaudited)

October 31, 2020

   

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     $        1,723,441  

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

     2,835       3,224,614  

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

     2,485       2,943,159  
   

 

 

  
      7,891,214  
Alaska — 0.3%            

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

     2,690       2,795,825  
   

 

 

  
Arizona — 1.5%            

Arizona Industrial Development Authority, RB

    

4.38%, 07/01/39(a)

    810       837,443  

5.00%, 07/01/54(a)

    945       985,210  

Series A, 5.00%, 07/01/39(a)

    1,480       1,527,567  

Series A, 5.00%, 07/01/49(a)

    1,675       1,708,751  

Series A, 4.00%, 02/01/50

     1,365       1,512,993  

Series A, 5.00%, 07/01/54(a)

    1,290       1,305,119  

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

    2,545       2,562,942  

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

    1,620       1,642,145  

Maricopa County Industrial Development Authority, Refunding RB

    

5.00%, 07/01/39(a)

    630       675,177  

5.00%, 07/01/54(a)

    1,420       1,481,259  

Series A, 5.00%, 09/01/42

     435       522,640  
   

 

 

  
      14,761,246  
Arkansas — 0.4%            

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

    4,350       4,360,049  
   

 

 

  
California — 9.2%            

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

     2,965       3,282,789  

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

     5,040       5,633,107  

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

     4,030       4,243,308  

Golden State Tobacco Securitization Corp., Refunding RB

    

Series A-1, 5.00%, 06/01/47

     4,910       5,037,464  

Series A-2, 5.00%, 06/01/47

     1,340       1,374,786  

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

    5,110       4,282,691  

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

    5,000       3,903,000  

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

    3,975       4,321,262  

Norman Y Mineta San Jose International Airport SJC, Refunding RB

    

Series A, AMT, 5.00%, 03/01/36

     1,160       1,347,259  

Series A, AMT, 5.00%, 03/01/37

     1,275       1,475,761  

Series A-1, AMT, 5.75%, 03/01/34

     2,300       2,335,834  

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

    7,620       4,649,800  
Security   Par
(000)		     Value  
California (continued)            

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

    

0.00%, 08/01/35

   $          7,820     $        5,859,761  

Series B, 0.00%, 08/01/36

     10,000       7,260,200  

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

   

Series C, 0.00%, 08/01/37

     8,000       5,505,760  

Series C, 0.00%, 08/01/38

     12,940       8,631,627  

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

    8,765       4,489,708  

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

    3,485       2,975,040  

San Joaquin County Transportation Authority, Refunding RB, Series A, 6.00%, 03/01/21(d)

    1,830       1,864,459  

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

    3,400       3,521,168  

State of California, GO, (NPFGC), 5.50%, 04/01/30

     10       10,039  

State of California, Refunding GO

    

5.00%, 09/01/41

     2,700       2,791,449  

5.00%, 10/01/41

     2,555       2,649,739  

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

    6,545       4,399,091  
   

 

 

  
      91,845,102  
Colorado — 2.5%            

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

    2,530       2,434,746  

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

    3,365       3,393,602  

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

     7,500       8,880,075  

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

     1,500       1,618,215  

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

     5,655       6,225,533  

STC Metropolitan District No.2,
Refunding GO

    

Series A, 5.00%, 12/01/38

     1,285       1,287,544  

Series A, 5.00%, 12/01/49

     1,000       976,020  
   

 

 

  
      24,815,735  
Connecticut — 0.1%            

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

    715       686,093  
   

 

 

  
Florida — 9.9%            

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

     4,535       4,967,140  

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

    1,475       1,413,640  

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

     4,000       4,865,200  

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

     2,965       3,459,888  

City of Tampa Florida, RB, CAB(b)

   

Series A, 0.00%, 09/01/39

     1,100       576,257  

Series A, 0.00%, 09/01/40

     1,000       499,740  

Series A, 0.00%, 09/01/41

     1,280       610,342  

Series A, 0.00%, 09/01/42

     1,150       523,756  

Series A, 0.00%, 09/01/45

     2,000       796,380  

County of Broward Florida Airport System Revenue, ARB

    

Series A, AMT, 5.00%, 10/01/40

     3,000       3,366,720  

Series A, AMT, 5.00%, 10/01/42

     3,000       3,462,540  
 

 

 

          1  

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

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     $        2,692,482  

Series A, AMT, 5.38%, 10/01/32

     3,440       3,541,893  

County of Miami-Dade Florida Aviation Revenue, Refunding RB

    

AMT, 5.00%, 10/01/34

     530       582,862  

Series B, AMT, 5.00%, 10/01/40

     6,500       7,506,460  

County of Miami-Dade Seaport Department, ARB

    

Series A, 6.00%, 10/01/38

     5,695       6,425,498  

Series B, AMT, 6.00%, 10/01/30

     1,820       2,065,008  

Series B, AMT, 6.25%, 10/01/38

     1,165       1,313,806  

Series B, AMT, 6.00%, 10/01/42

     1,865       2,093,910  

Florida Development Finance Corp., RB(a)

   

AMT, 5.00%, 05/01/29

     1,500       1,597,320  

Series A, AMT, 5.00%, 08/01/29(e)

    595       601,432  

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

    820       868,856  

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

     4,760       5,488,994  

LT Ranch Community Development District, SAB

    

4.00%, 05/01/40

     1,415       1,447,135  

4.00%, 05/01/50

     2,000       2,021,880  

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

     14,360       15,883,452  

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

     1,675       1,946,735  

Orange County Health Facilities Authority, Refunding RB

    

5.00%, 08/01/41

     1,550       1,709,449  

5.00%, 08/01/47

     4,590       4,981,940  

Palm Beach County Solid Waste Authority, Refunding RB

    

Series B, 5.00%, 10/01/21(d)

    50       52,142  

Series B, 5.00%, 10/01/31

     3,050       3,178,497  

Parker Road Community Development District, Refunding SAB

    

3.88%, 05/01/40

     900       911,502  

4.10%, 05/01/50

     1,000       1,018,830  

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

     4,630       5,318,990  

Westside Community Development District, Refunding SAB(a)

    

4.10%, 05/01/37

     640       662,899  

4.13%, 05/01/38

     630       651,993  
   

 

 

  
      99,105,568  
Georgia — 0.5%            

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

     1,405       1,625,262  

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

     1,105       1,285,259  

Private Colleges & Universities Authority, RB

    

5.00%, 04/01/33

     395       442,755  

5.00%, 04/01/44

     1,775       1,947,299  
   

 

 

  
      5,300,575  
Hawaii — 1.3%            

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

     2,385       2,750,859  
Security   Par
(000)		     Value  
Hawaii (continued)            

State of Hawaii Airports System Revenue, COP

    

AMT, 5.00%, 08/01/27

   $        2,000     $        2,190,660  

AMT, 5.00%, 08/01/28

     1,775       1,941,743  

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

     5,275       5,650,211  
   

 

 

  
      12,533,473  
Illinois — 12.5%            

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

     3,035       3,331,398  

Chicago O’Hare International Airport, ARB

    

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

    7,555       7,622,164  

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

     2,865       3,232,551  

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

     8,285       9,627,833  

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

    2,425       2,554,422  

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

    1,620       1,706,864  

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

     3,250       3,361,898  

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

     615       654,028  

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

     8,700       9,042,519  

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

     1,770       2,031,358  

Series C, 5.00%, 08/15/44

     985       1,094,709  

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

     8,540       10,239,204  

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

   

Series A, (NPFGC), 0.00%, 12/15/33

     20,000       12,671,200  

Series A, (NPFGC), 0.00%, 12/15/34

     41,880       25,483,142  

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

    9,430       3,902,606  

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

    1,700       1,756,542  

State of Illinois, GO 5.25%, 07/01/29

     3,160       3,320,117  

5.00%, 05/01/32

     7,500       7,818,825  

5.25%, 02/01/33

     5,860       6,071,136  

5.50%, 07/01/33

     2,235       2,337,832  

5.25%, 02/01/34

     5,360       5,537,470  

5.50%, 07/01/38

     1,200       1,239,228  
   

 

 

  
      124,637,046  
Indiana — 0.7%            

Indiana Finance Authority, RB

    

Series A, 1st Lien, 5.25%, 10/01/38

     2,900       3,017,566  

Series A, AMT, 5.00%, 07/01/40

     2,425       2,589,706  

Series A, AMT, 5.00%, 07/01/44

     1,400       1,483,048  
   

 

 

  
      7,090,320  
Kentucky — 2.1%            

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

    1,000       1,109,090  

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

    10,125       11,397,409  

Kentucky Public Transportation Infrastructure Authority, RB, CAB, Series C, Convertible, 6.60%, 07/01/39(c) .

     8,225       8,474,382  
   

 

 

  
      20,980,881  
 

 

 

2        

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Louisiana — 2.0%            

Jefferson Sales Tax District, RB

    

Series B, (AGM), 5.00%, 12/01/34

   $           670     $           814,318  

Series B, (AGM), 5.00%, 12/01/35

     895       1,084,561  

Series B, (AGM), 5.00%, 12/01/36

     805       973,583  

Series B, (AGM), 5.00%, 12/01/37

     1,005       1,212,743  

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

    8,155       9,405,651  

Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Series A-2, 6.50%, 11/01/35

     1,170       1,174,598  

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

     4,825       5,398,741  
   

 

 

  
      20,064,195  
Massachusetts — 1.3%            

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

     5,950       6,552,735  

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

     2,160       2,272,212  

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

    3,495       3,908,983  
   

 

 

  
      12,733,930  
Michigan — 4.8%            

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

    16,100       16,928,662  

Michigan State Building Authority, Refunding RB(d)

   

Series I-A, 5.38%, 10/15/21

     3,975       4,169,262  

Series II-A, (AGM), 5.25%, 10/15/21

     8,040       8,423,588  

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

     2,125       2,452,038  

Michigan Strategic Fund, RB

    

AMT, (AGM), 4.25%, 12/31/38

     2,000       2,201,620  

AMT, 5.00%, 12/31/43

     9,940       11,323,350  

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

     1,330       1,480,809  

Western Michigan University, Refunding RB, (AGM), 5.00%, 11/15/39

     1,080       1,190,732  
   

 

 

  
      48,170,061  
Nebraska — 0.7%            

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

     6,825       7,391,612  
   

 

 

  
Nevada — 0.1%            

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

    

4.00%, 06/01/39

     380       372,856  

4.00%, 06/01/44

     1,065       1,027,043  
   

 

 

  
      1,399,899  
New Jersey — 11.5%            

New Jersey Economic Development Authority, RB

    

Series DDD, 5.00%, 06/15/42

     590       651,531  

Series WW, 5.25%, 06/15/25(d)

    55       67,153  

Series WW, 5.25%, 06/15/33

     445       493,243  

Series WW, 5.00%, 06/15/34

     570       622,531  

Series WW, 5.00%, 06/15/36

     2,635       2,862,743  

Series WW, 5.25%, 06/15/40

     970       1,058,115  

AMT, 5.13%, 01/01/34

     1,930       2,145,793  

AMT, 5.38%, 01/01/43

     4,920       5,414,804  
Security   Par
(000)		     Value  
New Jersey (continued)            

New Jersey Economic Development Authority, Refunding RB

    

Series N-1, (AMBAC), 5.50%, 09/01/24

   $        6,325     $        7,235,294  

Series N-1, (NPFGC), 5.50%, 09/01/28

     1,685       2,044,343  

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

     4,255       4,319,591  

New Jersey Higher Education Student Assistance Authority, Refunding RB

    

1st Series, AMT, 5.50%, 12/01/25

     480       497,486  

1st Series, AMT, 5.50%, 12/01/26

     690       715,088  

1st Series, AMT, 5.75%, 12/01/28

     75       77,885  

1st Series, AMT, 5.88%, 12/01/33

     6,895       7,205,551  

Series B, AMT, 3.25%, 12/01/39

     7,670       7,441,741  

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

     2,645       2,776,219  

New Jersey Transportation Trust Fund Authority, RB

    

5.00%, 06/15/29

     2,145       2,475,888  

Series A, 5.50%, 06/15/21(d)

    2,980       3,074,704  

Series A, (NPFGC), 5.75%, 06/15/25

     4,000       4,693,080  

Series A, 5.00%, 06/15/28

     4,205       4,893,106  

Series AA, 5.25%, 06/15/33

     4,150       4,470,712  

Series AA, 5.00%, 06/15/38

     3,990       4,264,273  

Series AA, 5.50%, 06/15/39

     5,625       6,041,306  

Series B, 5.00%, 06/15/21(d)

    2,575       2,649,958  

Series B, 5.50%, 06/15/31

     1,000       1,026,010  

Series D, 5.00%, 06/15/32

     1,825       1,998,485  

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

   

Series A, 0.00%, 12/15/35

     10,000       5,870,900  

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

     8,550       7,821,968  

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.00%, 06/01/46

     4,000       4,608,680  

Series A, 5.25%, 06/01/46

     11,035       12,906,205  

Sub-Series B, 5.00%, 06/01/46

     2,675       3,020,476  
   

 

 

  
      115,444,862  
New Mexico — 0.2%            

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

     540       548,932  

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

     1,040       1,183,395  
   

 

 

  
      1,732,327  
New York — 8.8%            

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

     2,585       3,184,436  

Hudson Yards Infrastructure Corp., RB

    

5.75%, 02/15/21(d)

    1,190       1,208,469  

5.75%, 02/15/47

     730       738,870  

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

     4,000       4,287,360  

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

    

4.00%, 05/01/44

     5,000       5,678,000  

Series C, 4.00%, 05/01/45

     6,500       7,353,580  

Sub-Series E-1, 5.00%, 02/01/39

     6,440       7,640,030  

Sub-Series F-1, 5.00%, 05/01/39

     3,360       4,002,365  

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

     5,000       5,993,150  

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

     4,150       4,498,932  
 

 

 

          3  

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
New York (continued)            

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

  $        3,055     $        3,124,868  

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

     4,550       5,289,329  

New York State Dormitory Authority, Refunding RB, Series A, 5.00%, 03/15/45

     5,000       5,951,150  

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

     7,500       8,991,825  

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

     8,300       8,922,832  

New York Transportation Development Corp., RB

    

AMT, 5.00%, 10/01/35

     1,105       1,192,803  

AMT, 5.00%, 10/01/40

     3,115       3,342,488  

AMT, 4.38%, 10/01/45

     260       261,895  

Port Authority of New York & New Jersey, ARB

    

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

     2,500       2,999,925  

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

     3,000       3,334,200  
   

 

 

  
      87,996,507  
Ohio — 4.3%            

American Municipal Power, Inc., Refunding RB

    

Series A, 5.00%, 02/15/38

     2,375       2,775,995  

Series A, 5.00%, 02/15/41

     4,000       4,634,920  

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

     13,125       13,964,737  

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

    3,000       3,193,590  

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

    11,135       12,847,563  

Ohio Turnpike & Infrastructure Commission, RB

    

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

     1,950       2,148,159  

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

     2,730       3,003,628  
   

 

 

  
      42,568,592  
Oregon — 0.2%            

Clackamas Community College District, GO

    

Series A, 5.00%, 06/15/39

     395       473,565  

Series A, 5.00%, 06/15/40

     420       501,472  

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

    2,800       1,490,160  
   

 

 

  
      2,465,197  
Pennsylvania — 7.6%            

Commonwealth Financing Authority, RB
5.00%, 06/01/34
Series B, 5.00%, 06/01/22(d)

   
 2,180
3,305		  
 		    
 2,669,148
3,551,751		  
 

Pennsylvania Economic Development Financing Authority, RB

    

AMT, 5.00%, 12/31/34

     7,115       8,218,465  

AMT, 5.00%, 12/31/38

     6,850       7,776,874  

AMT, 5.00%, 06/30/42

     8,805       9,752,506  

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

     5,000       5,463,500  

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

     8,075       9,015,011  

Pennsylvania Turnpike Commission, RB

    

Series A, 5.00%, 12/01/38

     1,775       2,033,653  

Series A-1, 5.00%, 12/01/41

     2,320       2,692,662  

Series B, 5.00%, 12/01/40

     4,920       5,678,418  

Series C, 5.50%, 12/01/23(d)

    1,565       1,815,024  
Security   Par
(000)		     Value  
Pennsylvania (continued)            

Pennsylvania Turnpike Commission,
RB (continued)

    

Sub-Series B-1, 5.00%, 06/01/42

   $        7,330     $        8,514,235  

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

     5,000       6,027,200  

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

     2,165       2,482,281  
   

 

 

  
      75,690,728  
Puerto Rico — 4.2%            

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

    

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

     1,334       1,398,485  

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

     2,007       2,134,525  

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

     2,372       2,441,571  

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

     214       224,676  

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

     1,302       1,365,642  

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

     15,757       16,756,466  

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

     12,433       12,793,433  

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

     1,261       1,323,180  

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

    13,457       3,869,695  
   

 

 

  
      42,307,673  
Rhode Island — 1.1%            

Tobacco Settlement Financing Corp., Refunding RB

    

Series B, 4.50%, 06/01/45

     3,000       3,128,010  

Series B, 5.00%, 06/01/50

     7,465       7,963,139  
   

 

 

  
      11,091,149  
South Carolina — 6.0%            

South Carolina Jobs-Economic Development Authority, RB

    

5.00%, 01/01/40(a)

    2,630       2,456,368  

5.00%, 11/01/43

     5,000       6,007,500  

5.00%, 04/01/44

     285       305,078  

4.00%, 04/01/49

     270       260,304  

5.00%, 04/01/49

     765       814,549  

4.00%, 04/01/54

     580       553,262  

5.00%, 04/01/54

     1,385       1,471,632  

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

     3,600       3,767,904  

South Carolina Ports Authority, ARB

    

AMT, 5.25%, 07/01/25(d)

    6,530       7,927,224  

AMT, 5.00%, 07/01/38

     3,380       4,019,800  

South Carolina Public Service Authority, RB

    

Series A, 5.50%, 12/01/54

     11,450       12,818,504  

Series E, 5.50%, 12/01/53

     4,525       5,018,632  

South Carolina Public Service Authority, Refunding RB

    

Series B, 5.00%, 12/01/38

     5,870       6,485,352  

Series B, (AGM), 5.00%, 12/01/56

     7,155       8,385,875  
   

 

 

  
      60,291,984  
Tennessee — 0.5%            

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

     4,665       5,048,930  
   

 

 

  
Texas — 12.1%            

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

    11,345       12,284,593  
 

 

 

4        

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Texas (continued)            

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

   $           710     $         723,376  

City of Houston Texas Airport System Revenue, Refunding RB

    

Series A, AMT, 5.00%, 07/01/27

     690       703,565  

Series A, AMT, 6.63%, 07/15/38

     1,295       1,310,255  

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

    1,450       1,572,714  

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

     7,450       9,049,962  

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

    10,980       11,473,112  

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

     2,745       3,092,929  

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

     7,940       9,805,265  

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

    9,685       4,720,178  

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

    5,810       3,219,960  

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

    1,385       1,406,107  

North Texas Tollway Authority, Refunding RB

    

Series A, 5.00%, 01/01/39

     9,080       10,971,092  

Series B, 5.00%, 01/01/40

     1,710       1,850,117  

Series B, 5.00%, 01/01/43

     12,355       14,443,489  

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

    

0.00%, 09/15/35

     680       355,443  

0.00%, 09/15/36

     12,195       6,005,916  

0.00%, 09/15/37

     8,730       4,044,958  

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

     5,000       6,159,350  

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

     2,095       2,344,577  

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

     820       855,539  

Texas Municipal Gas Acquisition & Supply Corp. III, RB

    

5.00%, 12/15/31

     1,665       1,798,866  

5.00%, 12/15/32

     3,930       4,246,051  

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

     3,630       3,945,991  

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

     4,315       5,036,943  
   

 

 

  
      121,420,348  
Utah — 1.2%            

Salt Lake City Corp. Airport Revenue, ARB

    

Series A, AMT, 5.00%, 07/01/37

     3,475       4,092,924  

Series A, AMT, 5.00%, 07/01/42

     3,490       4,004,810  

Series A, AMT, 5.00%, 07/01/43

     3,190       3,717,467  

Utah Charter School Finance Authority, RB(a)

   

Series A, 5.00%, 06/15/39

     190       195,607  

Series A, 5.00%, 06/15/49

     380       384,241  
   

 

 

  
      12,395,049  
Vermont — 0.4%            

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

     4,125       4,115,595  
   

 

 

  
Security   Par
(000)		     Value  
Washington — 3.8%            

Port of Seattle Washington, ARB

    

Series A, AMT, 5.00%, 05/01/38

   $      20,000     $      23,026,600  

Series C, AMT, 5.00%, 04/01/40

     2,830       3,125,310  

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

     1,000       1,062,010  

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

     9,000       9,999,810  

Washington State Housing Finance Commission, RB, Series A, 5.00%, 01/01/55(a)

    280       286,006  
   

 

 

  
      37,499,736  
Wisconsin — 2.3%            

Public Finance Authority, RB

    

Series A, 5.00%, 11/15/41

     450       525,055  

Series A-1, 5.00%, 01/01/55(a)

    1,640       1,613,416  

Public Finance Authority, Refunding RB(a) 5.00%, 09/01/39

     100       100,510  

5.00%, 09/01/49

     145       141,387  

5.00%, 09/01/54

     660       631,231  

Wisconsin Health & Educational Facilities Authority, Refunding RB

    

5.00%, 04/01/44

     7,350       8,810,004  

Series A, 5.00%, 11/15/36

     4,815       5,693,400  

Series A, 5.00%, 11/15/39

     5,000       5,890,700  
   

 

 

  
      23,405,703  
   

 

 

  

Total Municipal Bonds — 114.9%
(Cost: $1,046,448,675)

       1,150,037,204  
   

 

 

  

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       10,007,050  
   

 

 

  
California — 2.9%            

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

    7,074       8,732,231  

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

     14,215       16,849,458  

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

     3,000       3,651,210  
   

 

 

  
      29,232,899  
Colorado — 0.7%            

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

    5,833       6,985,182  
   

 

 

  
Connecticut — 0.5%            

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

     3,932       4,566,726  
   

 

 

  
District of Columbia — 0.8%            

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

     6,880       7,415,333  
   

 

 

  
Florida — 3.6%            

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

     10,000       12,027,698  

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

     8,760       9,685,406  
 

 

 

          5  

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Florida (continued)            

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

  $        4,840     $        5,215,874  

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

     7,880       9,389,020  
   

 

 

  
      36,317,998  
Illinois — 5.7%            

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

     10,000       11,850,399  

Illinois State Toll Highway Authority, RB

    

Series A, 5.00%, 01/01/38

     5,836       6,312,900  

Series A, 5.00%, 01/01/40

     7,621       8,749,871  

Series A, 5.00%, 01/01/44

     12,000       14,681,520  

Series B, 5.00%, 01/01/40

     2,939       3,402,332  

Series C, 5.00%, 01/01/36

     10,000       11,530,399  
   

 

 

  
      56,527,421  
Kansas — 1.7%            

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

    13,470       17,345,855  
   

 

 

  
Massachusetts — 3.0%            

Commonwealth of Massachusetts, GO

    

Series A, 5.00%, 03/01/46

     4,204       4,727,959  

Series E, 5.25%, 09/01/43

     20,000       25,332,400  
   

 

 

  
      30,060,359  
Michigan — 2.1%            

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

     5,591       6,334,607  

Michigan State Building Authority, Refunding RB

    

Series I, 5.00%, 04/15/38

     10,000       11,721,298  

Series I, 5.00%, 10/15/45

     2,410       2,812,976  
   

 

 

  
      20,868,881  
Nevada — 2.3%            

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

     9,730       11,671,912  

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

     9,840       11,677,423  
   

 

 

  
      23,349,335  
New Jersey — 2.0%            

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

     10,000       12,520,600  

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

     2,320       2,715,490  

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

    4,962       5,156,833  
   

 

 

  
      20,392,923  
New York — 6.5%            

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

     15,521       17,198,038  

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

     9,850       10,322,701  

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

     4,740       5,425,736  

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

     7,622       9,119,461  
Security   Par
(000)		     Value  
New York (continued)            

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

   $      14,280     $        15,485,232  

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

     6,402       7,487,021  
   

 

 

  
      65,038,189  
Pennsylvania — 1.9%            

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

     15,000       15,931,650  

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

     2,560       2,940,416  
   

 

 

  
      18,872,066  
Texas — 3.5%            

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

     9,701       11,834,610  

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

    8,868       9,263,656  

Tarrant County Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 11/15/38

     1,798       1,968,426  

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

     9,840       11,546,158  
   

 

 

  
      34,612,850  
Virginia — 1.4%            

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

     11,740       14,233,221  
   

 

 

  
Washington — 1.0%            

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

     8,205       10,415,919  
   

 

 

  
Wisconsin — 1.8%            

Wisconsin Health & Educational Facilities Authority, Refunding RB

    

Series A, 5.00%, 11/15/39

     12,650       14,903,469  

Series A, 5.00%, 04/01/42

     2,490       2,661,262  
   

 

 

  
      17,564,731  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option
Bond Trusts — 42.4%
(Cost: $396,210,550)

 

     423,806,938  
   

 

 

  

Total Long-Term Investments — 157.3%
(Cost: $1,442,659,225)

       1,573,844,142  
   

 

 

  
 

 

 

6        

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Short-Term Securities            
Money Market Funds — 0.4%            

BlackRock Liquidity Funds, MuniCash, Institutional Class,

    

0.01%(h)(i)

     3,586,739     $ 3,587,097  
   

 

 

  

Total Short-Term Securities — 0.4%
(Cost: $3,586,130)

 

     3,587,097  
   

 

 

  

Total Investments — 157.7%
(Cost: $1,446,245,355)

 

     1,577,431,239  

Other Assets Less Liabilities — 1.3%

       13,174,592  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (23.4)%

 

     (234,060,001 ) 

VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (35.6)%

 

     (355,990,076 ) 
   

 

 

  

Net Assets Applicable to Common
Shares — 100.0%

 

   $ 1,000,555,754  
   

 

 

  

 

(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 December 15, 2020 to June 1, 2026, 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 October 31, 2020 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
10/31/20		      Shares
Held at
10/31/20		      Income      Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, MuniCash, Institutional Class

    $ 3,684,353      $ —      $ (97,114)(a)      $ (4 )     $ (138 )     $ 3,587,097        3,586,739      $ 137      $ —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  

 

  (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)

 

  •  

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

 

 

          7  

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock MuniYield Quality Fund III, Inc. (MYI)

 

Fair Value Hierarchy as of Period End (continued)

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 investments categorized in the disclosure hierarchy. The breakdown of the Fund’s investments 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

    $ —        $ 1,150,037,204        $ —        $ 1,150,037,204  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —          423,806,938          —          423,806,938  

Short-Term Securities

                  

Money Market Funds

      3,587,097          —          —          3,587,097  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 3,587,097        $ 1,573,844,142        $ —        $ 1,577,431,239  
  

 

 

       

 

 

       

 

 

       

 

 

  

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

 

      Level 1        Level 2        Level 3        Total  

Liabilities

                  

TOB Trust Certificates

    $ —        $ (233,969,234 )       $ —        $ (233,969,234 ) 

VRDP Shares at Liquidation Value

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

 

 

       

 

 

       

 

 

       

 

 

  
   $ —        $ (590,369,234 )       $ —        $ (590,369,234 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviation
AGC    Assured Guaranty Corp.
AGM    Assured Guaranty Municipal Corp.
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
NPFGC    National Public Finance Guarantee Corp.
PSF-GTD    Permanent School Fund Guaranteed
RB    Revenue Bond
SAB    Special Assessment Bonds
ST    Special Tax

 

 

8