NPORT-EX 2 NPORT_3891730841462062.htm BlackRock MuniYield Quality Fund II

Schedule of Investments (unaudited) 

January 31, 2021

  

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  

Municipal Bonds

   

Alabama — 0.6%

   

City of Birmingham Alabama, GO, CAB,
Series A-1, 5.00%, 03/01/45

  $ 915     $ 1,080,698  

Homewood Educational Building Authority, Refunding RB

   

Series A, 5.00%, 12/01/34

    240       294,391  

Series A, 5.00%, 12/01/47

    655       780,452  
   

 

 

 
      2,155,541  
Alaska — 0.3%            

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

    850       879,206  
   

 

 

 
Arizona — 2.2%            

Arizona Industrial Development Authority, RB(a)

   

5.00%, 07/01/54

    545       581,815  

Series A, 5.00%, 07/01/39

    480       495,850  

Series A, 5.00%, 07/01/49

    545       557,437  

Series A, 5.00%, 07/01/54

    420       428,354  

City of Phoenix Civic Improvement Corp., Refunding RB, AMT, Senior Lien, 5.00%, 07/01/32

        1,000           1,106,430  

Glendale Industrial Development Authority, RB, 5.00%, 05/15/56

    305       343,207  

Industrial Development Authority of the County of Pima, RB(a)

   

5.00%, 07/01/39

    500       520,410  

5.00%, 06/15/47

    830       839,968  

Industrial Development Authority of the County of Pima, Refunding RB(a)

   

5.00%, 06/15/49

    485       502,038  

5.00%, 06/15/52

    470       485,717  

Maricopa County Industrial Development Authority, Refunding RB

   

5.00%, 07/01/39(a)

    200       222,572  

5.00%, 07/01/54(a)

    470       505,983  

Series A, 5.00%, 09/01/36

    575       718,664  
   

 

 

 
      7,308,445  
Arkansas — 0.5%            

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

    1,375       1,515,154  
   

 

 

 
California — 8.2%            

California Health Facilities Financing Authority, Refunding RB

   

Series A, 5.00%, 07/01/37

    945       1,049,451  

Sub-Series A-2, 5.00%, 11/01/47

    1,140       1,812,919  

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

    1,290       1,358,551  

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

    865       915,853  

Golden State Tobacco Securitization Corp., Refunding RB

   

Series A-1, 3.50%, 06/01/36

    1,170       1,197,226  

Series A-1, 5.00%, 06/01/47

    785       816,526  

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

    5,000       5,521,150  

Norman Y Mineta San Jose International Airport SJC, Refunding RB

   

Series A, AMT, 5.00%, 03/01/36

    365       443,322  

Series A, AMT, 5.00%, 03/01/37

    400       485,452  
Security  

Par

(000)

    Value  

California (continued)

   

Norman Y Mineta San Jose International Airport SJC, Refunding RB (continued)
Series A-1, AMT, 5.75%, 03/01/34

  $ 700     $ 702,912  

San Diego Community College District, GO, CAB(c)

   

0.00%, 08/01/31

    1,855       1,161,712  

0.00%, 08/01/32

    2,320       1,365,297  

San Diego Unified School District, GO, CAB(c)

   

Series C, 0.00%, 07/01/38

    1,400       992,124  

Series G, 0.00%, 01/01/24(d)

    2,730       1,408,608  

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

    1,110       976,267  

San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB, Series A, AMT, 5.00%, 05/01/49

    705       867,982  

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

    1,090       1,116,618  

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

    1,500       1,581,810  

Yosemite Community College District, GO(c)

   

Series D, 0.00%, 08/01/36

    2,000       1,484,760  

Series D, 0.00%, 08/01/37

    2,790       2,013,878  
   

 

 

 
          27,272,418  
Colorado — 1.9%            

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

    1,165       1,298,486  

Colorado Health Facilities Authority, RB,
Series A, 4.00%, 11/15/46

    945       1,065,469  

Colorado Health Facilities Authority, Refunding RB, Series A, 4.00%, 08/01/44

    940       1,078,048  

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

        2,500       2,761,725  
   

 

 

 
      6,203,728  
Connecticut — 0.3%            

Connecticut Housing Finance Authority, Refunding RB, S/F Housing, Series A-1, 3.80%, 11/15/39

    225       250,292  

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

    545       695,159  
   

 

 

 
      945,451  
District of Columbia — 0.3%            

Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB, Series B, Subordinate, 4.00%, 10/01/49

    875       994,560  
   

 

 

 
Florida — 10.4%            

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

    1,420       1,601,689  

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

    480       485,702  

City of Tampa Florida, RB, CAB(c)

   

Series A, 0.00%, 09/01/49

    525       186,149  

Series A, 0.00%, 09/01/53

    560       165,054  

County of Lee Florida Airport Revenue, Refunding RB

   

Series A, AMT, 5.63%, 10/01/26

    825       847,555  

Series A, AMT, 5.38%, 10/01/32

    1,100       1,128,325  

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

    425       499,413  

County of Miami-Dade Florida Aviation Revenue, Refunding RB

   

AMT, 5.00%, 10/01/34

    160       183,824  

Series A, AMT, 5.00%, 10/01/22(d)

    1,730       1,865,840  

County of Miami-Dade Seaport Department, ARB Series A, 6.00%, 10/01/38

    1,780       2,035,430  
 

 

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)

January 31, 2021

  

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  

Florida (continued)

   

County of Miami-Dade Seaport Department, ARB (continued)

   

Series B, AMT, 6.00%, 10/01/30

  $ 570     $ 649,880  

Series B, AMT, 6.25%, 10/01/38

    360       411,656  

Series B, AMT, 6.00%, 10/01/42

    580       662,256  

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

   

Series A-2, 0.00%, 10/01/41

    505       261,843  

Series A-2, 0.00%, 10/01/42

    675       336,967  

Series A-2, 0.00%, 10/01/43

    615       294,936  

Series A-2, 0.00%, 10/01/44

    625       288,638  

Series A-2, 0.00%, 10/01/45

    525       233,504  

Florida Development Finance Corp., RB(a)

   

AMT, 5.00%, 05/01/29

    480       512,669  

Series A, AMT, 5.00%, 08/01/29(e)

    185       192,539  

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

    270       290,226  

Florida Ports Financing Commission, Refunding RB, Series B, AMT, 5.38%, 10/01/29

        2,400       2,479,944  

Greater Orlando Aviation Authority, ARB

   

Sub-Series A, AMT, 5.00%, 10/01/37

    660       803,939  

Sub-Series A, AMT, 5.00%, 10/01/47

    2,170       2,569,692  

Sub-Series A, AMT, 5.00%, 10/01/52

    1,330       1,565,530  

Lakewood Ranch Stewardship District, SAB, S/F Housing

   

4.00%, 05/01/40

    235       249,373  

4.00%, 05/01/50

    395       412,344  

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

    2,635       3,006,482  

Orange County Health Facilities Authority, Refunding RB

   

5.00%, 08/01/41

    495       553,331  

5.00%, 08/01/47

    1,435       1,581,169  

Orange County Housing Finance Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 3.75%, 09/01/47

    225       243,160  

Palm Beach County Health Facilities Authority, RB, Series B, 4.00%, 11/15/41

    140       156,366  

Palm Beach County Solid Waste Authority, Refunding RB

   

Series B, 5.00%, 10/01/21(d)

    30       30,978  

Series B, 5.00%, 10/01/31

    1,870       1,930,139  

Putnam County Development Authority, Refunding RB,
Series A, 5.00%, 03/15/42

    1,560       1,911,624  

Reedy Creek Improvement District, GO,
Series A, 5.25%, 06/01/23(d)

    1,040       1,163,989  

State of Florida, GO, Series B, 4.00%, 07/01/39

    1,840       2,229,270  

Storey Creek Community Development District, SAB, 4.13%, 12/15/49

    500       521,405  
   

 

 

 
          34,542,830  
Georgia — 1.4%            

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

    440       523,142  

LaGrange-Troup County Hospital Authority, Refunding RB, 4.00%, 04/01/47

    1,110       1,241,990  

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

    615       752,489  

Municipal Electric Authority of Georgia, RB 4.00%, 01/01/49

    470       537,351  
Security  

Par

(000)

    Value  

Georgia (continued)

   

Municipal Electric Authority of Georgia, RB (continued)
5.00%, 01/01/56

  $ 645     $ 778,567  

Private Colleges & Universities Authority, RB

   

5.00%, 04/01/33

    120       136,058  

5.00%, 04/01/44

    550       611,144  
   

 

 

 
      4,580,741  
Hawaii — 0.4%            

State of Hawaii Airports System Revenue, ARB,
Series A, AMT, 5.00%, 07/01/45

        1,150       1,329,193  
   

 

 

 
Illinois — 10.4%            

Chicago Board of Education, GO(f)

   

Series A, 5.00%, 12/01/34

    265       333,828  

Series A, 5.00%, 12/01/35

    245       307,771  

Series A, 5.00%, 12/01/36

    230       288,337  

Series A, 5.00%, 12/01/37

    245       306,899  

Series A, 5.00%, 12/01/38

    200       250,328  

Series A, 5.00%, 12/01/39

    560       700,185  

Series A, 5.00%, 12/01/40

    730       912,164  

Series A, 5.00%, 12/01/41

    470       585,498  

Chicago Board of Education, Refunding GO

   

Series A, 5.00%, 12/01/28

    205       259,815  

Series A, 5.00%, 12/01/29

    250       321,590  

Series A, 5.00%, 12/01/30

    840           1,070,521  

Chicago Board of Education, Refunding GO, CAB, Series A, 0.00%, 12/01/25(c)

    225       208,269  

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

    505       562,454  

Chicago O’Hare International Airport, ARB, Series D, Senior Lien, 5.25%, 01/01/42

    2,585       3,180,429  

Chicago O’Hare International Airport, Refunding ARB, Series C, AMT, Senior Lien, 5.38%, 01/01/39

    3,235       3,517,254  

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

    515       536,908  

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

    400       411,892  

Illinois Finance Authority, Refunding RB

   

Series C, 4.13%, 08/15/37

    665       731,261  

Series C, 5.00%, 08/15/44

    305       344,900  

Illinois Housing Development Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.13%, 10/01/38

    1,200       1,365,996  

Illinois State Toll Highway Authority, RB, Series B, 5.00%, 01/01/37

    2,465       2,962,758  

Metropolitan Pier & Exposition Authority, RB, Series A, 5.00%, 06/15/57

    670       781,481  

Metropolitan Pier & Exposition Authority, RB, CAB, Series A, (NPFGC), 0.00%, 12/15/36(c)

    10,000       6,436,600  

Metropolitan Pier & Exposition Authority, Refunding RB, 4.00%, 06/15/50

    515       569,410  

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

    2,980       1,479,749  

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

    575       586,270  

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

    2,000       2,786,520  

State of Illinois, GO

   

5.25%, 02/01/32

    870       972,077  

5.50%, 07/01/33

    710       777,784  
 

 

2  


Schedule of Investments (unaudited) (continued)

January 31, 2021

  

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  

Illinois (continued)

   

State of Illinois, GO (continued)

   

5.25%, 02/01/34

  $ 600     $ 669,414  

5.50%, 07/01/38

    390       425,981  
   

 

 

 
          34,644,343  
Indiana — 0.7%            

Indiana Finance Authority, RB

   

Series A, 1st Lien, 5.25%, 10/01/38

    1,000       1,032,410  

Series A, AMT, 5.00%, 07/01/40

    770       830,222  

Series A, AMT, 5.00%, 07/01/44

    445       477,934  
   

 

 

 
      2,340,566  
Kansas — 0.4%            

Kansas City Industrial Development Authority, ARB, AMT, (AGM), 4.00%, 03/01/57

    1,140       1,304,114  
   

 

 

 
Louisiana — 1.7%            

Louisiana Public Facilities Authority, Refunding RB, 5.00%, 05/15/46

        2,400       2,882,208  

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

    2,620       2,942,627  
   

 

 

 
      5,824,835  
Maine — 0.1%            

Maine State Housing Authority, RB, S/F Housing, Series B, 3.35%, 11/15/44

    175       190,001  
   

 

 

 
Maryland — 0.5%            

City of Baltimore Maryland, Refunding TA, Series A, Senior Lien, 3.63%, 06/01/46(a)

    655       658,131  

Maryland Community Development Administration, Refunding RB, S/F Housing, Series A, 4.10%, 09/01/38

    690       735,954  

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

    145       172,934  
   

 

 

 
      1,567,019  
Massachusetts — 1.7%            

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

    1,855       2,068,251  

Massachusetts Development Finance Agency, Refunding RB, 4.00%, 07/01/41

    815       933,150  

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

    55       60,213  

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

    675       720,839  

Massachusetts School Building Authority, RB

   

Series A, 5.00%, 05/15/23(d)

    1,110       1,233,721  

Sub-Series B, 4.00%, 02/15/43

    670       733,851  
   

 

 

 
      5,750,025  
Michigan — 4.9%            

City of Detroit Michigan Water Supply System Revenue, RB, Series A, Senior Lien, 5.25%, 07/01/21(d)

    1,600       1,634,064  

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

    545       629,181  

Michigan Finance Authority, Refunding RB

   

5.00%, 12/01/21(d)

    15       15,609  

4.00%, 11/15/46

    1,050       1,164,439  

Series A, 4.00%, 12/01/40

    2,630       3,070,104  

Michigan State Building Authority, Refunding RB(d)

   

Series I-A, 5.38%, 10/15/21

    600       622,194  

Series II-A, (AGM), 5.25%, 10/15/21

    1,900       1,968,609  
Security  

Par

(000)

    Value  

Michigan (continued)

   

Michigan State Building Authority, Refunding
RB(d) (continued)

   

Series II-A, 5.38%, 10/15/21

  $ 1,000     $ 1,036,990  

Michigan State Housing Development Authority, RB, M/F Housing, Series A, 4.15%, 10/01/53

    1,680       1,836,559  

Michigan State Housing Development Authority, RB, S/F Housing

   

Series B, 2.95%, 12/01/39

    450       474,525  

Series C, 4.13%, 12/01/38

    335       351,613  

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

    570       700,513  

Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43

    1,465       1,780,619  

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

    720       809,057  

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

    340       382,398  
   

 

 

 
          16,476,474  
Nebraska — 0.9%            

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

        2,650       2,851,665  
   

 

 

 
New Jersey — 10.7%            

New Jersey Economic Development Authority, RB

   

Series WW, 5.25%, 06/15/25(d)

    15       18,247  

Series WW, 5.25%, 06/15/33

    135       158,956  

Series WW, 5.00%, 06/15/34

    180       209,203  

Series WW, 5.00%, 06/15/36

    800       924,240  

Series WW, 5.25%, 06/15/40

    305       351,885  

AMT, 5.13%, 01/01/34

    610       678,954  

AMT, 5.38%, 01/01/43

    790       863,352  

New Jersey Economic Development Authority, Refunding RB,
Sub-Series A, 4.00%, 07/01/32

    295       325,087  

New Jersey Educational Facilities Authority, Refunding RB, Series A, 5.00%, 07/01/42

    800       940,256  

New Jersey Higher Education Student Assistance Authority, RB, Series C, AMT, Subordinate, 4.25%, 12/01/50

    800       834,744  

New Jersey Higher Education Student Assistance Authority, Refunding RB

   

1st Series, AMT, 5.50%, 12/01/25

    195       200,546  

1st Series, AMT, 5.50%, 12/01/26

    135       138,835  

1st Series, AMT, 5.75%, 12/01/28

    75       77,279  

Series B, AMT, 3.25%, 12/01/39

    2,150       2,239,848  

Sub-Series C, AMT, 3.63%, 12/01/49

    645       659,667  

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

    840       883,403  

New Jersey Transportation Trust Fund Authority, RB

   

Series A, 5.50%, 06/15/21(d)

    3,365       3,431,661  

Series A, (NPFGC), 5.75%, 06/15/25

    1,400       1,691,466  

Series A, 0.00%, 12/15/29(c)

    225       187,772  

Series AA, 5.25%, 06/15/33

    1,315       1,451,431  

Series AA, 5.00%, 06/15/38

    1,180       1,332,952  

Series AA, 5.50%, 06/15/39

    4,650       5,142,016  

Series AA, 5.00%, 06/15/45

    790       989,538  

Series AA, 3.00%, 06/15/50

    235       244,158  

Series B, 5.00%, 06/15/21(d)

    3,680       3,746,130  

Series D, 5.00%, 06/15/32

    525       604,564  

New Jersey Transportation Trust Fund Authority, Refunding RB, 4.00%, 12/15/39

    925       1,066,580  

South Jersey Transportation Authority, RB, Series A, 4.00%, 11/01/50

    510       591,228  
 

 

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)

January 31, 2021

  

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  

New Jersey (continued)

   

Tobacco Settlement Financing Corp., Refunding RB

   

Series A, 5.00%, 06/01/34

  $ 820     $ 1,036,570  

Series A, 5.00%, 06/01/36

    1,220       1,527,794  

Series A, 4.00%, 06/01/37

    745       863,507  

Sub-Series B, 5.00%, 06/01/46

        2,005       2,386,732  
   

 

 

 
          35,798,601  
New Mexico — 0.2%            

City of Santa Fe New Mexico, RB, Series A, 5.00%, 05/15/39

    170       185,552  

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

    325       381,215  
   

 

 

 
      566,767  
New York — 7.7%            

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

    230       231,005  

Metropolitan Transportation Authority, Refunding RB, Series C-1, 5.00%, 11/15/56

    1,330       1,528,197  

New York City Housing Development Corp. RB, Series I-1, (FHA), 2.55%, 11/01/45

    2,000       2,042,600  

New York City Transitional Finance Authority Building Aid Revenue, RB, Series S-3, Subordinate, (SAW), 4.00%, 07/15/46

    1,000       1,145,770  

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

    2,200       2,384,932  

New York City Water & Sewer System, RB, Series DD-1, 4.00%, 06/15/48

    5,000       5,748,900  

New York City Water & Sewer System, Refunding RB, Series BB,
5.25%, 12/15/21(d)

    1,250       1,306,100  

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

    975       1,058,070  

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

    395       466,167  

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

    4,950       5,619,834  

New York Transportation Development Corp., RB

   

AMT, 5.00%, 10/01/35

    350       434,927  

AMT, 5.00%, 10/01/40

    1,000       1,234,060  

Port Authority of New York & New Jersey, Refunding ARB

   

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

    555       643,151  

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

    1,110       1,268,541  

Series 207, AMT, 4.00%, 09/15/43

    410       462,648  
   

 

 

 
      25,574,902  
Ohio — 2.5%            

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

    4,265       4,971,412  

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

    890       1,012,900  

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

    460       483,216  

Ohio Housing Finance Agency, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.00%, 09/01/48 .

    205       223,639  

Ohio Turnpike & Infrastructure Commission, RB

   

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

    610       671,366  

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

    850       935,297  
   

 

 

 
      8,297,830  
Security  

Par

(000)

    Value  
Oklahoma — 0.2%            

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

  $ 495     $ 564,216  
   

 

 

 
Oregon — 0.4%            

Clackamas Community College District, GO, Series A, 5.00%, 06/15/40

    390       484,941  

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

    875       486,894  

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

    320       359,184  
   

 

 

 
      1,331,019  
Pennsylvania — 11.0%            

City of Philadelphia Pennsylvania Airport Revenue, Refunding ARB

   

Series B, AMT, 5.00%, 07/01/35

    670       806,204  

Series B, AMT, 5.00%, 07/01/47

    765       898,102  

Commonwealth Financing Authority, RB (AGM), 4.00%, 06/01/39

    935       1,088,995  

Series B, 5.00%, 06/01/22(d)

    2,110       2,248,036  

Montgomery County Higher Education and Health Authority, Refunding RB, Series A, 4.00%, 09/01/49

    840       927,872  

Pennsylvania Economic Development Financing Authority, RB

   

Series A-1, 4.00%, 04/15/50

    875       1,021,851  

Series B, 4.00%, 03/15/40

    3,000       3,341,820  

AMT, 5.00%, 12/31/34

    2,220       2,605,037  

AMT, 5.00%, 12/31/38

    1,155       1,342,872  

AMT, 5.00%, 06/30/42

    3,300       3,797,970  

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

    835       950,815  

Pennsylvania Higher Education Assistance Agency, RB, Series B, AMT, Subordinate, 3.00%, 06/01/47

    180       177,982  

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

    3,175       3,579,971  

Pennsylvania Housing Finance Agency, RB, S/F Housing

   

Series 127B, 3.88%, 10/01/38

    785       861,051  

Series 128B, 3.85%, 04/01/38

    1,760       1,962,136  

Pennsylvania Turnpike Commission, RB

   

Series A, 5.00%, 12/01/38

    550       639,623  

Series A-1, 5.00%, 12/01/41

    730       879,285  

Series B, 5.00%, 12/01/40

    285       342,496  

Series C, 5.50%, 12/01/23(d)

    490       564,519  

Series C, 5.00%, 12/01/39

    2,900       3,395,929  

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

    1,755       2,073,778  

Pennsylvania Turnpike Commission, Refunding RB

   

3rd Series, 4.00%, 12/01/38

        1,835       2,143,574  

Series A-1, 5.00%, 12/01/40

    680       809,248  

School District of Philadelphia, Refunding GO, Series F, (SAW), 5.00%, 09/01/38

    270       324,678  
   

 

 

 
          36,783,844  
Puerto Rico — 4.4%            

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53

    5,407       6,051,461  
 

 

4  


Schedule of Investments (unaudited) (continued)

January 31, 2021

  

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  

Puerto Rico (continued)

   

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

   

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

  $ 3,922     $ 4,454,059  

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

    1,324       1,463,510  

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

    276       309,302  

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

    424       474,494  

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

    411       460,480  

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

        5,089       1,609,396  
   

 

 

 
          14,822,702  
Rhode Island — 1.2%            

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

    415       496,519  

Tobacco Settlement Financing Corp., Refunding RB

   

Series B, 4.50%, 06/01/45

    945       1,004,270  

Series B, 5.00%, 06/01/50

    2,340       2,530,055  
   

 

 

 
      4,030,844  
South Carolina — 6.4%            

Charleston County Airport District, ARB, Series A, AMT, 5.50%, 07/01/41

    1,360       1,513,830  

County of Berkeley South Carolina, SAB

   

4.25%, 11/01/40

    315       348,472  

4.38%, 11/01/49

    465       510,770  

South Carolina Jobs-Economic Development Authority, RB

   

5.00%, 11/01/48

    2,010       2,476,822  

5.00%, 01/01/55(a)

    855       835,027  

South Carolina Jobs-Economic Development Authority, Refunding RB

   

Series A, (AGM), 6.50%, 08/01/21(d)

    100       103,186  

Series A, 5.00%, 05/01/38

    2,220       2,729,312  

South Carolina Ports Authority, ARB

   

AMT, 5.25%, 07/01/25(d)

    2,040       2,470,216  

AMT, 5.00%, 07/01/48

    470       569,212  

South Carolina Public Service Authority, RB

   

Series A, 5.50%, 12/01/54

    3,935       4,570,148  

Series E, 5.50%, 12/01/53

    2,820       3,205,889  

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

    1,840       2,072,337  
   

 

 

 
      21,405,221  
South Dakota — 0.4%            

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

    1,085       1,252,068  
   

 

 

 
Tennessee — 0.6%            

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

    750       845,310  

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Building, RB, Series A, 5.00%, 07/01/46

    1,110       1,281,084  
   

 

 

 
      2,126,394  
Texas — 15.9%            

Brazos Higher Education Authority, Inc., RB, Series 1B, AMT, Subordinate, 3.00%, 04/01/40

    115       110,681  

Central Texas Turnpike System, RB, Series C, 5.00%, 08/15/37

    1,240       1,430,476  
Security  

Par

(000)

    Value  

Texas (continued)

   

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

  $ 605     $ 650,169  

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

    230       268,543  

City of Houston Texas Airport System Revenue, Refunding RB

   

Series A, AMT, 5.00%, 07/01/27

    225       262,523  

Series A, AMT, 6.63%, 07/15/38

    405       414,108  

Sub-Series A, AMT, 4.00%, 07/01/47

    350       400,036  

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

    500       548,305  

Dallas Fort Worth International Airport, ARB(d)

   

Series D, AMT, 5.00%, 11/01/21

    2,940       3,045,737  

Series H, AMT, 5.00%, 11/01/21

    2,715       2,810,242  

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

    865       976,525  

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

    3,020       1,506,285  

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

    1,850       1,068,042  

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

    450       470,043  

North Texas Tollway Authority, RB, CAB, Series C, 6.75%, 09/01/31(b)(d)

    10,000           15,362,800  

North Texas Tollway Authority, Refunding RB

   

4.25%, 01/01/49

    1,090       1,267,430  

Series A, 5.00%, 01/01/43

    790       974,955  

Series B, 5.00%, 01/01/40

    530       576,147  

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

   

0.00%, 09/15/35

    1,150       605,843  

0.00%, 09/15/36

    3,875       1,924,906  

0.00%, 09/15/37

        17,775       8,314,434  

Tarrant County Cultural Education Facilities Finance Corp., RB, Series B, 5.00%, 07/01/35

    1,680       2,144,386  

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

    750       846,615  

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

    260       285,150  

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

    350       383,814  

Texas Municipal Gas Acquisition & Supply Corp. III Refunding RB, 5.00%, 12/15/32(f)

    125       171,738  

Texas Municipal Gas Acquisition & Supply Corp. III, RB

   

5.00%, 12/15/31

    1,030       1,124,719  

5.00%, 12/15/32

    3,445       3,757,255  

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

    1,135       1,294,025  
   

 

 

 
      52,995,932  
Utah — 0.7%            

Salt Lake City Corp. Airport Revenue, ARB

   

Series A, AMT, 5.00%, 07/01/42

    1,095       1,312,325  

Series A, AMT, 5.00%, 07/01/48

    395       473,478  

Utah Charter School Finance Authority, RB, Series A, 5.00%, 06/15/39(a)

    185       195,708  

Utah Charter School Finance Authority, Refunding RB, 5.00%, 06/15/40(a)

    335       362,021  
   

 

 

 
      2,343,532  
 

 

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)

January 31, 2021

  

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  

Washington — 2.2%

   

Port of Seattle Washington, ARB

   

Series A, AMT, 5.00%, 05/01/43

  $     1,730     $ 2,059,824  

Series C, AMT, 5.00%, 04/01/40

    900       1,034,739  

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

    430       475,460  

Washington Health Care Facilities Authority, RB

   

4.00%, 10/01/45

    630       693,662  

Series B, 5.00%, 08/15/44

    3,000       3,204,720  
   

 

 

 
      7,468,405  
West Virginia — 0.3%            

West Virginia Hospital Finance Authority, RB, Series A, 4.00%, 06/01/51

    870       976,340  
   

 

 

 
Wisconsin — 1.5%            

Public Finance Authority, RB(a)

   

Series A, 5.00%, 07/15/39

    100       107,210  

Series A, 5.00%, 07/01/40

    300       316,479  

Series A, 5.00%, 07/15/49

    355       373,496  

Series A, 5.00%, 07/15/54

    170       178,051  

Series A-1, 5.00%, 01/01/55

    535       555,025  

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

    295       306,375  

Wisconsin Housing & Economic Development Authority, RB, M/F Housing

   

Series A, 4.15%, 11/01/48

    1,920       2,154,029  

Series A, 4.45%, 05/01/57

    1,030       1,146,071  
   

 

 

 
      5,136,736  
   

 

 

 

Total Municipal Bonds — 114.1%
(Cost: $333,111,967)

          380,151,662  
   

 

 

 

Municipal Bonds Transferred to Tender Option Bond Trusts(g)

 

California(h) — 1.7%

   

Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/47.

        3,392       3,877,202  

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

    1,391       1,759,970  
   

 

 

 
      5,637,172  
Colorado — 1.7%            

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

    2,084       2,542,256  

Colorado Health Facilities Authority, Refunding RB, Series A, 5.00%, 02/01/21

    3,000       3,000,000  
   

 

 

 
      5,542,256  
Connecticut — 0.4%            

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

    1,231       1,443,284  
   

 

 

 
District of Columbia — 1.0%            

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

    920       1,044,513  

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

    2,190       2,354,403  
   

 

 

 
      3,398,916  
Florida — 6.1%            

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

    2,740       3,067,402  

City Of South Miami Health Facilities Authority, Inc., Refunding RB, 5.00%, 08/15/47

    2,340       2,859,106  
Security  

Par

(000)

    Value  

Florida (continued)

   

County of Broward Florida Port Facilities Revenue, ARB, Series B, AMT, 4.00%, 09/01/49

  $ 2,050     $ 2,351,227  

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

    1,540       1,646,691  

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

    4,200       5,755,428  

Greater Orlando Aviation Authority, ARB, Series A, AMT, 4.00%, 10/01/49(h)

    2,117       2,434,900  

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

    2,100       2,107,770  
   

 

 

 
          20,222,524  
Georgia — 0.6%            

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

    1,805       2,010,537  
   

 

 

 
Illinois — 4.8%            

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

    490       491,798  

Illinois State Toll Highway Authority, RB

   

Series A, 5.00%, 01/01/38

    1,858       2,022,176  

Series B, 5.00%, 01/01/40

    930       1,110,395  

Regional Transportation Authority, RB, (NPFGC), 6.50%, 07/01/26

        10,000       12,525,797  
   

 

 

 
      16,150,166  
Louisiana — 0.5%            

State of Louisiana Gasoline & Fuels Tax Revenue, Refunding RB, Series A, 1st Lien, 4.00%, 05/01/41

    1,350       1,523,029  
   

 

 

 
Maryland — 1.2%            

City of Baltimore Maryland, RB

   

Series A, 5.00%, 07/01/41

    2,478       2,999,183  

Series A, 5.00%, 07/01/46

    940       1,133,491  
   

 

 

 
      4,132,674  
Massachusetts — 0.5%            

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

    1,321       1,508,217  
   

 

 

 
Michigan — 3.2%            

Michigan Finance Authority, RB

   

Series A, 5.00%, 11/01/44

    1,750       2,027,932  

Series A, 4.00%, 02/15/50

    2,550       2,928,063  

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

    4,685       4,875,071  

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

    760       913,816  
   

 

 

 
      10,744,882  
Nebraska — 0.3%            

Nebraska Investment Finance Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 3.70%, 03/01/47

    938       1,079,235  
   

 

 

 
Nevada — 2.2%            

County of Clark Nevada, GO, Series A, 5.00%, 06/01/38

    2,716       3,433,618  

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

    3,080       3,725,106  
   

 

 

 
      7,158,724  
New Jersey — 2.1%            

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

    720       859,601  
 

 

6  


Schedule of Investments (unaudited) (continued)

January 31, 2021

  

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  

New Jersey (continued)

   

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

  $ 1,580     $ 1,629,521  

New Jersey Turnpike Authority, Refunding RB

   

Series B, 4.00%, 01/01/37

    2,054       2,394,873  

Series G, 4.00%, 01/01/43

    1,906       2,177,897  
   

 

 

 
      7,061,892  
New York — 7.5%            

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

    4,920       5,462,682  

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

    3,080       3,494,660  

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

    1,940       2,187,835  

New York City Transitional Finance Authority Building Aid Revenue, RB, Series S-1, (SAW), 4.00%, 07/15/42(h)

    1,500       1,578,300  

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

    2,714       3,347,170  

New York City Water & Sewer System, Refunding RB

   

Series DD, 5.00%, 06/15/35

    1,470       1,700,643  

Series FF, 5.00%, 06/15/39

        2,595       3,088,024  

Port Authority of New York & New Jersey, ARB, Series 221, AMT, 4.00%, 07/15/60

    1,573       1,794,373  

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

    2,001       2,433,663  
   

 

 

 
          25,087,350  
Ohio — 1.5%            

Northeast Ohio Regional Sewer District, Refunding RB

   

4.00%, 11/15/43

    2,581       3,075,069  

4.00%, 11/15/49(h)

    1,875       2,080,556  
   

 

 

 
      5,155,625  
Pennsylvania — 1.1%            

Pennsylvania Housing Finance Agency, RB, S/F Housing, Series 129, 3.40%, 10/01/49

    1,362       1,459,038  

Philadelphia Authority for Industrial Development, RB, Series A, 4.00%, 07/01/44

    1,094       1,180,479  

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

    800       943,520  
   

 

 

 
      3,583,037  
South Carolina — 0.6%            

South Carolina Ports Authority, ARB, Series B, AMT, 4.00%, 07/01/49(h)

    1,770       2,036,385  
   

 

 

 
Texas — 3.9%            

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

    1,996       2,065,656  

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

    1,094       1,378,359  

Houston Community College System, GO, 4.00%, 02/15/23(d)

    1,305       1,406,986  

San Antonio Public Facilities Corp., Refunding RB, 4.00%, 09/15/42

    1,649       1,733,895  

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

        3,080       3,661,104  

Texas Department of Housing & Community Affairs, RB, S/F Housing Series A, (GNMA), 3.63%, 09/01/44

    805       883,970  
Security  

Par

(000)

    Value  
Texas (continued)  

Texas Department of Housing & Community Affairs, RB, S/F Housing (continued)

   

Series A, (GNMA), 3.00%, 09/01/45

  $ 408     $ 433,544  

Series A, (GNMA), 3.75%, 09/01/49

    442       484,641  

Series A, (GNMA), 3.00%, 03/01/50

    772       821,467  
   

 

 

 
          12,869,622  
Utah — 1.7%            

County of Utah, RB, Series B, 4.00%, 05/15/47

    5,135       5,552,936  
   

 

 

 
Virginia — 0.8%            

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

    1,962       2,512,673  
   

 

 

 
Washington — 1.0%            

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

        2,565       3,367,948  
   

 

 

 
Wisconsin — 0.6%            

Wisconsin Health & Educational Facilities Authority, Refunding RB, Series A, 5.00%, 04/01/42

    1,920       2,066,515  
   

 

 

 

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 45.0%
(Cost: $136,343,587)

 

    149,845,599  
   

 

 

 

Total Long-Term Investments — 159.1%
(Cost: $469,455,554)

 

    529,997,261  
   

 

 

 
     Shares         

Short-Term Securities

 

 

Money Market Funds — 0.8%

 

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

    2,700,468       2,701,008  
   

 

 

 

Total Short-Term Securities — 0.8%
(Cost: $2,700,995)

 

    2,701,008  
   

 

 

 

Total Investments — 159.9%
(Cost: $472,156,549)

 

    532,698,269  

Liabilities in Excess of Other Assets — (0.1)%

 

    (580,070

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (24.8)%

 

    (82,536,975

VMTP Shares at Liquidation Value — (35.0)%

 

    (116,500,000
   

 

 

 

Net Assets Applicable to Common Shares — 100.0%

 

  $ 333,081,224  
   

 

 

 

 

(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) 

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.

(c) 

Zero-coupon bond.

(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) 

When-issued security.

(g) 

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.

(h) 

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 May 1, 2021 to June 15, 2036, is $14,228,662.

 

 

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)

January 31, 2021

  

BlackRock MuniYield Quality Fund II, Inc. (MQT)

 

(i) 

Affiliate of the Fund.

(j) 

Annualized 7-day yield as of period end.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 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

04/30/20

    

Purchases

at Cost

    

Proceeds

from Sales

    

Net

Realized

Gain (Loss)

    

Change in

Unrealized

Appreciation

(Depreciation)

    

Value at

01/31/21

    

Shares

Held at

01/31/21

     Income     

Capital Gain

Distributions

from

Underlying

Funds

 

BlackRock Liquidity Funds, MuniCash, Institutional Class

   $ 443,146      $ 2,257,813 (a)     $      $ 36      $ 13      $ 2,701,008        2,700,468      $      $  
           

 

 

    

 

 

    

 

 

       

 

 

    

 

 

 

 

  (a) 

Represents net amount purchased (sold).

 

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

 

 

 
Description   

Number of

Contracts

    

Expiration

Date

    

Notional

Amount (000)

    

Value/

Unrealized

Appreciation

(Depreciation)

 

 

 

Short Contracts

           

10-Year U.S. Treasury Note

     45        03/22/21      $ 6,166      $ 15,821  

Long U.S. Treasury Bond

     19        03/22/21        3,206        48,971  
           

 

 

 
            $ 64,792  
           

 

 

 

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.

 

 

8  


Schedule of Investments (unaudited) (continued)

January 31, 2021

  

BlackRock MuniYield Quality Fund II, Inc. (MQT)

 

Fair Value Hierarchy as of Period End (continued)

The following table summarizes the Fund’s investments and derivative financial instruments 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

   $      $ 380,151,662      $      $ 380,151,662  

Municipal Bonds Transferred to Tender Option Bond Trusts

            149,845,599               149,845,599  

Short-Term Securities

           

Money Market Funds

     2,701,008                      2,701,008  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 2,701,008      $ 529,997,261      $      $ 532,698,269  
  

 

 

    

 

 

    

 

 

    

 

 

 

Derivative Financial Instruments(a)

           

Assets

           

Interest Rate Contracts

   $ 64,792      $      $      $ 64,792  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

  (a) 

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

 

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

 

                                                                                               

 

 
     Level 1      Level 2      Level 3      Total  

 

 

Liabilities

           

TOB Trust Certificates

   $      $ (82,500,443    $      $ (82,500,443

VMTP Shares at Liquidation Value

            (116,500,000             (116,500,000
  

 

 

    

 

 

    

 

 

    

 

 

 
   $      $ (199,000,443    $      $ (199,000,443
  

 

 

    

 

 

    

 

 

    

 

 

 

 

Portfolio Abbreviation
AGM    Assured Guaranty Municipal Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAM    Build America Mutual Assurance Co.
CAB    Capital Appreciation Bonds
COP    Certificates of Participation
FHA    Federal Housing Administration
FHLMC    Federal Home Loan Mortgage Corp.
FNMA    Federal National Mortgage Association
GNMA    Government National Mortgage Association
GO    General Obligation Bonds
GTD    GTD Guaranteed
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
PSF    Permanent School Fund
RB    Revenue Bond
S/F    Single-Family
SAB    Special Assessment Bonds
SAW    State Aid Withholding
TA    Tax Allocation

 

 

S C H E D U L E    O F   I N V E S T M E N T S   9