| Schedule of Investments (unaudited) April 30, 2023 |
BlackRock MuniYield Quality Fund II, Inc. (MQT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Municipal Bonds |
||||||||
| Alabama — 2.0% | ||||||||
| Black Belt Energy Gas District, RB(a) |
||||||||
| 4.00%, 10/01/52 |
$ | 1,355 | $ | 1,347,491 | ||||
| Series C-1, 5.25%, 02/01/53 |
1,280 | 1,357,038 | ||||||
| Series F, 5.50%, 11/01/53 |
810 | 859,218 | ||||||
| Homewood Educational Building Authority, Refunding RB |
||||||||
| Series A, 5.00%, 12/01/34 |
240 | 256,112 | ||||||
| Series A, 5.00%, 12/01/47 |
655 | 674,002 | ||||||
| Southeast Energy Authority A Cooperative District, RB, Series A-1, 5.50%, 01/01/53(a) |
740 | 798,738 | ||||||
|
|
|
|||||||
| 5,292,599 | ||||||||
| Arizona — 3.6% | ||||||||
| Arizona Industrial Development Authority, RB(b) |
||||||||
| 5.00%, 07/01/54 |
545 | 487,043 | ||||||
| Series A, 5.00%, 07/01/49 |
545 | 490,700 | ||||||
| Series A, 5.00%, 07/01/54 |
420 | 372,300 | ||||||
| City of Phoenix Civic Improvement Corp., ARB |
||||||||
| Series B, AMT, Junior Lien, 5.00%, 07/01/44 |
1,745 | 1,817,756 | ||||||
| Series B, AMT, Junior Lien, 5.00%, 07/01/49 |
1,620 | 1,671,952 | ||||||
| City of Phoenix Civic Improvement Corp., Refunding RB, AMT, Senior Lien, 5.00%, 07/01/32 |
1,000 | 1,002,439 | ||||||
| Glendale Industrial Development Authority, RB, 5.00%, 05/15/56 |
305 | 258,223 | ||||||
| Industrial Development Authority of the County of Pima, RB, 5.00%, 07/01/39(b) |
500 | 468,169 | ||||||
| Industrial Development Authority of the County of Pima, Refunding RB, 5.00%, 06/15/49(b) |
1,025 | 897,127 | ||||||
| Maricopa County Industrial Development Authority, Refunding RB |
||||||||
| 5.00%, 07/01/54(b) |
290 | 254,608 | ||||||
| Series A, 5.00%, 09/01/37 |
575 | 608,464 | ||||||
| Salt Verde Financial Corp., RB, 5.00%, 12/01/37 |
1,120 | 1,164,918 | ||||||
|
|
|
|||||||
| 9,493,699 | ||||||||
| Arkansas — 0.4% | ||||||||
| Arkansas Development Finance Authority, RB, Series A, AMT, 4.50%, 09/01/49(b) |
1,275 | 1,140,303 | ||||||
|
|
|
|||||||
| California — 7.5% | ||||||||
| California Community Housing Agency, RB, M/F Housing(b) |
||||||||
| 3.00%, 08/01/56 |
120 | 78,987 | ||||||
| Series A, 5.00%, 04/01/49 |
205 | 179,373 | ||||||
| California Enterprise Development Authority, RB, 8.00%, 11/15/62(b) |
370 | 366,906 | ||||||
| California Health Facilities Financing Authority, Refunding RB, Sub-Series A-2, 5.00%, 11/01/47 |
1,140 | 1,302,806 | ||||||
| CMFA Special Finance Agency XII, RB, M/F Housing, Series A, 3.25%, 02/01/57(b) |
135 | 93,373 | ||||||
| CSCDA Community Improvement Authority, RB, M/F Housing(b) |
||||||||
| 5.00%, 09/01/37 |
100 | 96,299 | ||||||
| 4.00%, 10/01/56 |
155 | 125,679 | ||||||
| 4.00%, 12/01/56 |
200 | 143,536 | ||||||
| Series A, 4.00%, 06/01/58 |
930 | 725,693 | ||||||
| Senior Lien, 3.13%, 06/01/57 |
525 | 361,017 | ||||||
| Series A, Senior Lien, 4.00%, 12/01/58 |
755 | 584,268 | ||||||
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
| Mount San Antonio Community College District, Refunding GO, CAB, CAB, Series A, 6.25%, 08/01/43(c) |
$ | 5,000 | $ | 4,945,145 | ||||
| Norman Y Mineta San Jose International Airport SJC, Refunding RB, Series A, AMT, 5.00%, 03/01/41 |
765 | 788,825 | ||||||
| Regents of the University of California Medical Center Pooled Revenue, RB, Series P, 4.00%, 05/15/53 |
1,485 | 1,397,796 | ||||||
| San Diego Community College District, GO, CAB(d) |
||||||||
| Election 2006, 0.00%, 08/01/31 |
1,855 | 1,162,046 | ||||||
| Election 2006, 0.00%, 08/01/32 |
2,320 | 1,364,870 | ||||||
| San Diego Unified School District, GO, Series C, Election 2008, 0.00%, 07/01/38(d) |
1,400 | 794,937 | ||||||
| San Diego Unified School District, GO, CAB, Series G, Election 2008, 0.00%, 01/01/24(d)(e) |
2,730 | 1,394,172 | ||||||
| San Diego Unified School District, Refunding GO, CAB, Series R-1, 0.00%, 07/01/31(d) |
1,110 | 885,621 | ||||||
| Yosemite Community College District, GO(d) |
||||||||
| Series D, Election 2004, 0.00%, 08/01/36 |
2,000 | 1,241,978 | ||||||
| Series D, Election 2004, 0.00%, 08/01/37 |
2,790 | 1,674,547 | ||||||
|
|
|
|||||||
| 19,707,874 | ||||||||
| Colorado — 3.1% | ||||||||
| City & County of Denver Colorado Airport System Revenue, Refunding ARB, Series A, AMT, 5.50%, 11/15/53 |
820 | 895,152 | ||||||
| City & County of Denver Colorado, COP, Series A, 4.00%, 06/01/48 |
1,165 | 1,111,425 | ||||||
| Colorado Health Facilities Authority, RB, Series A, 4.00%, 11/15/46 |
945 | 895,939 | ||||||
| Colorado Health Facilities Authority, Refunding RB |
||||||||
| Series A, 4.00%, 08/01/44 |
940 | 881,639 | ||||||
| Series A, 5.00%, 05/15/52 |
1,175 | 1,256,441 | ||||||
| Denver City & County School District No. 1, GO, (SAW), 4.00%, 12/01/45 |
1,475 | 1,483,859 | ||||||
| State of Colorado, COP, Series S, 4.00%, 03/15/40 |
1,635 | 1,635,469 | ||||||
|
|
|
|||||||
| 8,159,924 | ||||||||
| Connecticut — 0.0% | ||||||||
| Connecticut Housing Finance Authority, Refunding RB, S/F Housing, Series A-1, 3.80%, 11/15/39 |
55 | 53,022 | ||||||
|
|
|
|||||||
| District of Columbia — 1.0% | ||||||||
| District of Columbia, RB, Series C, 4.00%, 05/01/45 |
1,720 | 1,710,432 | ||||||
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB, Series B, Subordinate, 4.00%, 10/01/49 |
875 | 821,494 | ||||||
|
|
|
|||||||
| 2,531,926 | ||||||||
| Florida — 13.5% | ||||||||
| Brevard County Health Facilities Authority, Refunding RB, 5.00%, 04/01/39 |
1,420 | 1,440,902 | ||||||
| Capital Trust Agency, Inc., RB(b) |
||||||||
| 5.00%, 01/01/55 |
535 | 407,828 | ||||||
| Series A, 5.00%, 06/01/55 |
480 | 393,724 | ||||||
| Series A, 5.50%, 06/01/57 |
170 | 150,460 | ||||||
| City of Miami Beach Florida, RB, 5.00%, 09/01/45 |
2,740 | 2,810,530 | ||||||
| City of South Miami Health Facilities Authority, Inc., Refunding RB, 5.00%, 08/15/42 |
2,340 | 2,407,273 | ||||||
| City of Tampa Florida Water & Wastewater System Revenue, RB, Series A, 5.25%, 10/01/57 |
2,210 | 2,452,554 | ||||||
| City of Tampa Florida, RB, CAB(d) |
||||||||
| Series A, 0.00%, 09/01/49 |
525 | 137,990 | ||||||
| 1 |
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniYield Quality Fund II, Inc. (MQT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Florida (continued) | ||||||||
| City of Tampa Florida, RB, CAB(d) (continued) |
||||||||
| Series A, 0.00%, 09/01/53 |
$ | 560 | $ | 116,913 | ||||
| County of Broward Florida Airport System Revenue, ARB, Series A, AMT, 4.00%, 10/01/49 |
915 | 829,360 | ||||||
| County of Broward Florida Port Facilities Revenue, ARB, AMT, 5.25%, 09/01/47 |
1,000 | 1,053,568 | ||||||
| County of Lee Florida Airport Revenue, ARB, Series B, AMT, 5.00%, 10/01/46 |
880 | 918,475 | ||||||
| County of Miami-Dade Florida Aviation Revenue, Refunding RB, AMT, 5.00%, 10/01/34 |
160 | 162,702 | ||||||
| County of Miami-Dade Seaport Department, ARB(e) |
||||||||
| Series B, AMT, 6.00%, 10/01/23 |
1,150 | 1,160,705 | ||||||
| Series B, AMT, 6.25%, 10/01/23 |
360 | 363,717 | ||||||
| County of Miami-Dade Seaport Department, Refunding RB |
||||||||
| Series A, AMT, 5.00%, 10/01/42 |
360 | 380,138 | ||||||
| Series A, AMT, 5.00%, 10/01/47 |
600 | 626,566 | ||||||
| Series A, AMT, 5.25%, 10/01/52 |
285 | 303,073 | ||||||
| Series A-1, AMT, (AGM), 4.00%, 10/01/45 |
790 | 742,880 | ||||||
| County of Osceola Florida Transportation Revenue, Refunding RB, CAB(d) |
||||||||
| Series A-2, 0.00%, 10/01/41 |
505 | 189,266 | ||||||
| Series A-2, 0.00%, 10/01/42 |
675 | 229,841 | ||||||
| Series A-2, 0.00%, 10/01/46 |
480 | 130,456 | ||||||
| Series A-2, 0.00%, 10/01/47 |
775 | 198,088 | ||||||
| Series A-2, 0.00%, 10/01/48 |
270 | 64,899 | ||||||
| County of Pasco Florida, RB, (AGM), 5.75%, 09/01/54 |
180 | 198,775 | ||||||
| Florida Development Finance Corp., RB(b) |
||||||||
| 6.50%, 06/30/57 |
340 | 336,276 | ||||||
| AMT, 5.00%, 05/01/29 |
480 | 449,230 | ||||||
| Florida Development Finance Corp., Refunding RB, Series C, 5.00%, 09/15/50(b) |
270 | 217,615 | ||||||
| Greater Orlando Aviation Authority, ARB |
||||||||
| Series A, AMT, 4.00%, 10/01/52 |
900 | 823,772 | ||||||
| Sub-Series A, AMT, 5.00%, 10/01/37 |
660 | 690,786 | ||||||
| Sub-Series A, AMT, 5.00%, 10/01/47 |
4,690 | 4,804,999 | ||||||
| Hillsborough County Aviation Authority, ARB, AMT, 5.00%, 10/01/48 |
2,165 | 2,205,689 | ||||||
| Lakewood Ranch Stewardship District, SAB, S/F Housing |
||||||||
| 4.00%, 05/01/40 |
235 | 203,122 | ||||||
| 4.00%, 05/01/50 |
395 | 309,749 | ||||||
| Miami-Dade County Educational Facilities Authority, Refunding RB, Series A, 5.00%, 04/01/40 |
2,635 | 2,688,548 | ||||||
| Orange County Health Facilities Authority, RB, 4.00%, 10/01/52 |
1,805 | 1,666,562 | ||||||
| Orange County Health Facilities Authority, Refunding RB |
||||||||
| 5.00%, 08/01/41 |
495 | 511,813 | ||||||
| 5.00%, 08/01/47 |
1,435 | 1,483,741 | ||||||
| Orange County Housing Finance Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 3.75%, 09/01/47 |
120 | 120,085 | ||||||
| Palm Beach County Health Facilities Authority, RB, Series B, 4.00%, 11/15/41 |
140 | 116,461 | ||||||
| Seminole Improvement District, RB, 5.30%, 10/01/37 |
150 | 149,026 | ||||||
| Security | Par (000) |
Value | ||||||
| Florida (continued) | ||||||||
| Storey Creek Community Development District, SAB, 4.13%, 12/15/49 |
$ | 500 | $ | 403,688 | ||||
| Village Community Development District No. 14, SAB, 5.50%, 05/01/53 |
545 | 532,954 | ||||||
|
|
|
|||||||
| 35,584,799 | ||||||||
| Georgia — 3.3% | ||||||||
| Development Authority for Fulton County, RB, 4.00%, 07/01/49 |
500 | 465,663 | ||||||
| East Point Business & Industrial Development Authority, RB, Series A, 5.25%, 06/15/62(b) |
200 | 179,274 | ||||||
| Gainesville & Hall County Hospital Authority, RB, Series A, 4.00%, 02/15/51 |
875 | 804,874 | ||||||
| Georgia Housing & Finance Authority, Refunding RB, 3.70%, 06/01/49(f) |
3,340 | 2,923,692 | ||||||
| Georgia Ports Authority, ARB, 4.00%, 07/01/52 |
375 | 360,459 | ||||||
| Main Street Natural Gas, Inc., RB |
||||||||
| Series A, 5.00%, 05/15/43 |
615 | 615,945 | ||||||
| Series A, 5.00%, 06/01/53(a) |
2,005 | 2,111,848 | ||||||
| Municipal Electric Authority of Georgia, RB |
||||||||
| Class A, 5.50%, 07/01/63 |
345 | 356,854 | ||||||
| Series A, 5.00%, 01/01/59 |
880 | 895,719 | ||||||
| Private Colleges & Universities Authority, RB, 5.00%, 04/01/24(e) |
120 | 122,025 | ||||||
|
|
|
|||||||
| 8,836,353 | ||||||||
| Hawaii — 1.0% | ||||||||
| State of Hawaii Airports System Revenue, ARB |
||||||||
| Series A, AMT, 5.00%, 07/01/43 |
1,410 | 1,460,550 | ||||||
| Series A, AMT, 5.00%, 07/01/48 |
1,050 | 1,078,053 | ||||||
|
|
|
|||||||
| 2,538,603 | ||||||||
| Illinois — 10.2% | ||||||||
| Chicago Board of Education, GO |
||||||||
| Series A, 5.00%, 12/01/34 |
1,265 | 1,308,818 | ||||||
| Series A, 5.00%, 12/01/40 |
1,195 | 1,204,299 | ||||||
| Series A, 5.00%, 12/01/47 |
360 | 354,330 | ||||||
| Chicago Board of Education, Refunding GO, Series A, 5.00%, 12/01/30 |
135 | 140,681 | ||||||
| Chicago Midway International Airport, Refunding ARB |
||||||||
| Series B, 5.00%, 01/01/46 |
1,770 | 1,816,160 | ||||||
| Series A, AMT, 2nd Lien, 5.00%, 01/01/34 |
505 | 509,228 | ||||||
| Chicago O’Hare International Airport, ARB, Series D, Senior Lien, 5.25%, 01/01/42 |
2,585 | 2,703,458 | ||||||
| Chicago O’Hare International Airport, Refunding ARB |
||||||||
| Series A, AMT, Senior Lien, 5.00%, 01/01/48 |
740 | 754,369 | ||||||
| Series A, AMT, Senior Lien, 4.38%, 01/01/53 |
830 | 774,256 | ||||||
| Chicago Transit Authority Sales Tax Receipts Fund, Refunding RB, Series A, 2nd Lien, 5.00%, 12/01/57 |
705 | 720,131 | ||||||
| Illinois Finance Authority, Refunding RB |
||||||||
| Series A, 5.00%, 11/15/45 |
1,110 | 1,124,721 | ||||||
| Series C, 4.13%, 08/15/37 |
665 | 649,257 | ||||||
| Series C, 5.00%, 08/15/44 |
305 | 307,297 | ||||||
| Illinois Housing Development Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.13%, 10/01/38 |
120 | 121,686 | ||||||
| Illinois State Toll Highway Authority, RB, Series B, 5.00%, 01/01/40 |
920 | 954,092 | ||||||
| Metropolitan Pier & Exposition Authority, RB |
||||||||
| Series A, (NPFGC), 0.00%, 12/15/36(d) |
10,000 | 5,529,660 | ||||||
| Series A, 5.00%, 06/15/57 |
670 | 672,050 | ||||||
| S C H E D U L E O F I N V E S T M E N T S | 2 |
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniYield Quality Fund II, Inc. (MQT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Illinois (continued) | ||||||||
| Metropolitan Pier & Exposition Authority, Refunding RB |
||||||||
| 4.00%, 06/15/50 |
$ | 515 | $ | 444,057 | ||||
| Series B, (AGM), 0.00%, 06/15/44(d) |
2,980 | 1,101,316 | ||||||
| Regional Transportation Authority, RB, Series B, (NPFGC), 5.75%, 06/01/33 |
2,000 | 2,354,228 | ||||||
| State of Illinois, GO |
||||||||
| 5.25%, 02/01/32 |
870 | 878,640 | ||||||
| 5.50%, 07/01/33 |
710 | 712,579 | ||||||
| 5.25%, 02/01/34 |
600 | 606,676 | ||||||
| 5.50%, 07/01/38 |
390 | 391,505 | ||||||
| Series B, 5.25%, 05/01/40(f) |
635 | 691,402 | ||||||
|
|
|
|||||||
| 26,824,896 | ||||||||
| Indiana — 0.5% | ||||||||
| Indiana Finance Authority, RB, Series A, AMT, 5.00%, 07/01/23(e) |
1,215 | 1,217,434 | ||||||
|
|
|
|||||||
| Kentucky — 0.7% | ||||||||
| City of Henderson Kentucky, RB, Series A, AMT, 4.70%, 01/01/52(b) |
150 | 138,045 | ||||||
| Fayette County School District Finance Corp., RB |
||||||||
| (NGFGC), 5.00%, 06/01/44 |
545 | 595,081 | ||||||
| (BAM-TCRS), 5.00%, 06/01/46 |
480 | 520,822 | ||||||
| Kentucky Public Energy Authority, RB, Series A-1, 4.00%, 08/01/52(a) |
530 | 521,720 | ||||||
|
|
|
|||||||
| 1,775,668 | ||||||||
| Louisiana — 2.2% | ||||||||
| Louisiana Public Facilities Authority, Refunding RB, 5.00%, 05/15/42 |
2,400 | 2,446,162 | ||||||
| New Orleans Aviation Board, ARB |
||||||||
| Series B, AMT, 5.00%, 01/01/45 |
2,380 | 2,384,565 | ||||||
| Series B, AMT, 5.00%, 01/01/48 |
1,010 | 1,013,882 | ||||||
|
|
|
|||||||
| 5,844,609 | ||||||||
| Maryland — 1.5% | ||||||||
| City of Baltimore Maryland, RB, Series A, 5.00%, 07/01/41 |
2,480 | 2,599,967 | ||||||
| City of Baltimore Maryland, Refunding TA, Series A, Senior Lien, 3.63%, 06/01/46(b) |
655 | 513,637 | ||||||
| Maryland Economic Development Corp., RB |
||||||||
| 5.00%, 07/01/56 |
145 | 145,616 | ||||||
| Class B, AMT, 5.25%, 06/30/55 |
800 | 815,921 | ||||||
|
|
|
|||||||
| 4,075,141 | ||||||||
| Massachusetts — 1.9% | ||||||||
| Commonwealth of Massachusetts, GO, Series A, 5.00%, 03/01/46 |
1,315 | 1,332,324 | ||||||
| Massachusetts Development Finance Agency, RB, Series A, 5.00%, 01/01/47 |
1,855 | 1,860,893 | ||||||
| Massachusetts Development Finance Agency, Refunding RB, 5.00%, 07/01/47 |
815 | 837,440 | ||||||
| Massachusetts Housing Finance Agency, RB, M/F Housing, Series A, 3.85%, 06/01/46 |
55 | 48,087 | ||||||
| Massachusetts Housing Finance Agency, Refunding RB, Series A, AMT, 4.45%, 12/01/42 |
355 | 335,385 | ||||||
| Massachusetts School Building Authority, RB, Sub- Series B, 4.00%, 02/15/43 |
670 | 671,106 | ||||||
|
|
|
|||||||
| 5,085,235 | ||||||||
| Michigan — 6.3% | ||||||||
| Eastern Michigan University, RB, Series A, (AGM), 4.00%, 03/01/44 |
545 | 535,370 | ||||||
| Security | Par (000) |
Value | ||||||
| Michigan (continued) | ||||||||
| Michigan Finance Authority, RB |
||||||||
| 4.00%, 02/15/50 |
$ | 1,885 | $ | 1,754,948 | ||||
| Series A, 4.00%, 11/15/50 |
2,550 | 2,345,245 | ||||||
| Series S, 5.00%, 11/01/44 |
1,755 | 1,792,192 | ||||||
| Michigan Finance Authority, Refunding RB |
||||||||
| 4.00%, 11/15/46 |
1,050 | 981,299 | ||||||
| Series A, 4.00%, 12/01/40 |
2,630 | 2,573,907 | ||||||
| Michigan State Building Authority, Refunding RB, Series I, 5.00%, 10/15/45 |
765 | 787,206 | ||||||
| Michigan State Hospital Finance Authority, Refunding RB, 5.00%, 11/15/47 |
1,300 | 1,357,971 | ||||||
| Michigan State Housing Development Authority, RB, M/F Housing |
||||||||
| Series A, AMT, 2.55%, 10/01/51 |
645 | 414,572 | ||||||
| Series A, AMT, 4.15%, 10/01/53 |
1,550 | 1,355,608 | ||||||
| Michigan State Housing Development Authority, RB, S/F Housing, Series B, 2.95%, 12/01/39 |
450 | 389,054 | ||||||
| Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43 |
1,980 | 2,006,576 | ||||||
| Western Michigan University, Refunding RB, (AGM), 5.00%, 11/15/23(e) |
340 | 343,200 | ||||||
|
|
|
|||||||
| 16,637,148 | ||||||||
| Minnesota — 0.2% | ||||||||
| Minnesota Higher Education Facilities Authority, RB, Series A, 5.00%, 10/01/47 |
445 | 467,264 | ||||||
|
|
|
|||||||
| Missouri — 0.3% | ||||||||
| Kansas City Industrial Development Authority, ARB, Series B, AMT, 5.00%, 03/01/39 |
670 | 705,281 | ||||||
|
|
|
|||||||
| Nebraska — 0.5% | ||||||||
| Omaha Public Power District, Refunding RB, Series A, 4.00%, 02/01/42 |
1,355 | 1,348,317 | ||||||
|
|
|
|||||||
| Nevada — 1.0% | ||||||||
| County of Clark Nevada, RB, Subordinate, (AGM), 4.00%, 07/01/40 |
2,715 | 2,682,184 | ||||||
|
|
|
|||||||
| New Jersey — 9.7% | ||||||||
| Camden County Improvement Authority, RB, 6.00%, 06/15/62 |
180 | 188,735 | ||||||
| Hudson County Improvement Authority, RB, 5.00%, 05/01/46 |
730 | 754,778 | ||||||
| New Jersey Economic Development Authority, RB |
||||||||
| Series WW, 5.00%, 06/15/25(e) |
980 | 1,022,584 | ||||||
| Series WW, 5.25%, 06/15/25(e) |
455 | 477,323 | ||||||
| AMT, 5.13%, 01/01/34 |
610 | 612,491 | ||||||
| AMT, 5.38%, 01/01/43 |
790 | 791,776 | ||||||
| New Jersey Economic Development Authority, Refunding RB, Sub-Series A, 4.00%, 07/01/32 |
295 | 300,037 | ||||||
| New Jersey Higher Education Student Assistance Authority, RB, Series C, AMT, Subordinate, 4.25%, 12/01/50 |
800 | 731,860 | ||||||
| New Jersey Higher Education Student Assistance Authority, Refunding RB, Series B, AMT, 4.00%, 12/01/41 |
875 | 870,263 | ||||||
| New Jersey Housing & Mortgage Finance Agency, Refunding RB, 2nd Series, AMT, 4.35%, 11/01/33 |
840 | 840,305 | ||||||
| New Jersey Transportation Trust Fund Authority, RB |
||||||||
| Series A, (NPFGC), 5.75%, 06/15/25 |
1,400 | 1,468,209 | ||||||
| Series A, 0.00%, 12/15/29(d) |
225 | 178,538 | ||||||
| Series AA, 5.25%, 06/15/33 |
1,315 | 1,317,787 | ||||||
| Series AA, 5.00%, 06/15/38 |
1,180 | 1,204,932 | ||||||
| Series AA, 5.50%, 06/15/39 |
4,650 | 4,661,904 | ||||||
| 3 |
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
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 (continued) |
||||||||
| Series AA, 4.00%, 06/15/40 |
$ | 925 | $ | 909,276 | ||||
| Series AA, 4.00%, 06/15/50 |
560 | 514,681 | ||||||
| Series AA, 5.00%, 06/15/50 |
710 | 750,298 | ||||||
| Series BB, 4.00%, 06/15/50 |
1,400 | 1,299,865 | ||||||
| Series D, 5.00%, 06/15/32 |
525 | 540,838 | ||||||
| New Jersey Turnpike Authority, RB |
||||||||
| Series A, 4.00%, 01/01/42 |
970 | 968,349 | ||||||
| Series A, 4.00%, 01/01/48 |
900 | 879,387 | ||||||
| Tobacco Settlement Financing Corp., Refunding RB |
||||||||
| Series A, 5.00%, 06/01/34 |
820 | 875,302 | ||||||
| Series A, 5.00%, 06/01/35 |
1,220 | 1,292,114 | ||||||
| Sub-Series B, 5.00%, 06/01/46 |
2,005 | 1,989,153 | ||||||
|
|
|
|||||||
| 25,440,785 | ||||||||
| New Mexico — 0.1% | ||||||||
| City of Santa Fe New Mexico, RB, Series A, 5.00%, 05/15/44 |
180 | 157,278 | ||||||
|
|
|
|||||||
| New York — 12.8% | ||||||||
| City of New York, GO |
||||||||
| Series A-1, 5.00%, 08/01/47 |
260 | 283,665 | ||||||
| Series B, 5.25%, 10/01/41 |
545 | 622,320 | ||||||
| Metropolitan Transportation Authority, Refunding RB, Series C-1, 5.00%, 11/15/56 |
1,330 | 1,346,402 | ||||||
| New York City Transitional Finance Authority Building Aid Revenue, RB |
||||||||
| Series S-1, Subordinate, (SAW), 4.00%, 07/15/42 |
1,105 | 1,105,067 | ||||||
| Series S-3, Subordinate, (SAW), 4.00%, 07/15/46 |
— | — | ||||||
| New York City Transitional Finance Authority Future Tax Secured Revenue, RB, Series F-1, Subordinate, 5.00%, 02/01/42 |
2,715 | 3,000,586 | ||||||
| New York Liberty Development Corp., Refunding RB |
||||||||
| Series 1, 5.00%, 11/15/44(b) |
975 | 940,665 | ||||||
| Series A, 2.88%, 11/15/46 |
855 | 607,264 | ||||||
| Series A, (BAM-TCRS), 3.00%, 11/15/51 |
2,045 | 1,434,429 | ||||||
| Series A, 3.00%, 11/15/51 |
1,015 | 735,344 | ||||||
| New York Power Authority, Refunding RB |
||||||||
| Series A, 4.00%, 11/15/55 |
395 | 373,781 | ||||||
| Series A, 4.00%, 11/15/60 |
425 | 392,320 | ||||||
| New York State Thruway Authority, RB, Series N, 4.00%, 01/01/46 |
720 | 707,844 | ||||||
| New York State Urban Development Corp., Refunding RB |
||||||||
| 4.00%, 03/15/41 |
900 | 905,147 | ||||||
| 4.00%, 03/15/46 |
1,660 | 1,634,175 | ||||||
| New York Transportation Development Corp., ARB |
||||||||
| AMT, 5.00%, 12/01/36 |
450 | 480,308 | ||||||
| Series A, AMT, 5.25%, 01/01/50 |
4,950 | 4,962,340 | ||||||
| New York Transportation Development Corp., RB, AMT, 5.00%, 10/01/35 |
1,050 | 1,102,271 | ||||||
| Port Authority of New York & New Jersey, ARB, Series 221, AMT, 4.00%, 07/15/55 |
1,570 | 1,433,685 | ||||||
| Port Authority of New York & New Jersey, Refunding ARB |
||||||||
| 186th Series, AMT, 5.00%, 10/15/36 |
305 | 312,901 | ||||||
| Series 197, AMT, 5.00%, 11/15/35 |
250 | 263,961 | ||||||
| Series 207, AMT, 4.00%, 09/15/43 |
410 | 402,022 | ||||||
| Security | Par (000) |
Value | ||||||
| New York (continued) | ||||||||
| Triborough Bridge & Tunnel Authority Sales Tax Revenue, RB |
||||||||
| Series A, 4.13%, 05/15/53 |
$ | 3,150 | $ | 3,072,809 | ||||
| Series A, 4.50%, 05/15/63 |
1,000 | 992,325 | ||||||
| Triborough Bridge & Tunnel Authority, RB |
||||||||
| Series A, 5.00%, 11/15/49 |
180 | 193,054 | ||||||
| Series D-2, Senior Lien, 5.25%, 05/15/47 |
1,680 | 1,895,678 | ||||||
| Triborough Bridge & Tunnel Authority, Refunding RB, Series A, 4.00%, 05/15/51 |
4,500 | 4,438,076 | ||||||
|
|
|
|||||||
| 33,638,439 | ||||||||
| North Carolina — 0.1% | ||||||||
| City of Charlotte North Carolina Airport Revenue, Refunding ARB, Series B, AMT, 4.00%, 07/01/51 |
215 | 197,330 | ||||||
|
|
|
|||||||
| Ohio — 2.6% | ||||||||
| Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55 |
5,270 | 4,910,686 | ||||||
| Northeast Ohio Regional Sewer District, Refunding RB, 4.00%, 11/15/24(e) |
1,880 | 1,905,509 | ||||||
| Ohio Housing Finance Agency, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.00%, 09/01/48 |
90 | 92,612 | ||||||
|
|
|
|||||||
| 6,908,807 | ||||||||
| Oklahoma — 0.3% | ||||||||
| Oklahoma Turnpike Authority, RB, Series A, 4.00%, 01/01/48 |
495 | 484,821 | ||||||
| Oklahoma Water Resources Board, RB, 4.00%, 04/01/48(f) |
345 | 341,829 | ||||||
|
|
|
|||||||
| 826,650 | ||||||||
| Oregon — 1.6% | ||||||||
| Clackamas Community College District, GO, Series A, 5.00%, 06/15/40 |
390 | 411,407 | ||||||
| Clackamas County School District No. 12 North Clackamas, GO, CAB, Series A, (GTD), 0.00%, 06/15/38(d) |
875 | 453,617 | ||||||
| Port of Portland Oregon Airport Revenue, Refunding ARB, 29th Series, AMT, 5.50%, 07/01/48 |
2,930 | 3,234,638 | ||||||
|
|
|
|||||||
| 4,099,662 | ||||||||
| Pennsylvania — 11.0% | ||||||||
| Allegheny County Airport Authority, ARB |
||||||||
| Series A, AMT, 5.00%, 01/01/51 |
1,010 | 1,035,638 | ||||||
| Series A, AMT, 5.00%, 01/01/56 |
1,075 | 1,100,720 | ||||||
| Bucks County Industrial Development Authority, RB |
||||||||
| 4.00%, 07/01/46 |
100 | 77,445 | ||||||
| 4.00%, 07/01/51 |
100 | 73,503 | ||||||
| City of Philadelphia Pennsylvania, GO, Series A, (AGM-CR), 4.00%, 05/01/41 |
1,310 | 1,295,040 | ||||||
| Commonwealth Financing Authority, RB, (AGM), 4.00%, 06/01/39 |
935 | 921,743 | ||||||
| Montgomery County Higher Education and Health Authority, Refunding RB, Class B, 5.00%, 05/01/57 |
1,370 | 1,407,585 | ||||||
| Pennsylvania Economic Development Financing Authority, RB |
||||||||
| Series B, 4.00%, 03/15/40 |
3,000 | 3,006,360 | ||||||
| AMT, 5.00%, 12/31/34 |
2,220 | 2,266,973 | ||||||
| AMT, 5.00%, 12/31/38 |
1,155 | 1,164,248 | ||||||
| AMT, 5.50%, 06/30/41 |
900 | 973,305 | ||||||
| AMT, 5.00%, 06/30/42 |
3,300 | 3,308,666 | ||||||
| AMT, 5.75%, 06/30/48 |
780 | 847,454 | ||||||
| S C H E D U L E O F I N V E S T M E N T S | 4 |
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniYield Quality Fund II, Inc. (MQT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Pennsylvania (continued) | ||||||||
| Pennsylvania Economic Development Financing Authority, Refunding RB, Series A, 4.00%, 11/15/42 |
$ | 835 | $ | 804,959 | ||||
| Pennsylvania Higher Education Assistance Agency, RB, Series B, AMT, Subordinate, 3.00%, 06/01/47 |
180 | 134,499 | ||||||
| Pennsylvania Higher Educational Facilities Authority, Refunding RB, Series A, 5.00%, 09/01/45 |
3,150 | 3,181,623 | ||||||
| Pennsylvania Turnpike Commission, RB |
||||||||
| Series A, 5.00%, 12/01/38 |
550 | 566,366 | ||||||
| Series A-1, 5.00%, 12/01/41 |
730 | 755,804 | ||||||
| Series B, 5.00%, 12/01/40 |
285 | 294,019 | ||||||
| Series C, 5.50%, 12/01/23(e) |
490 | 496,345 | ||||||
| Series C, 5.00%, 12/01/39 |
900 | 923,335 | ||||||
| Sub-Series A-1, Subordinate, 5.00%, 12/01/41 |
1,755 | 1,795,984 | ||||||
| Pennsylvania Turnpike Commission, Refunding RB |
||||||||
| 3rd Series, 4.00%, 12/01/38 |
1,835 | 1,845,012 | ||||||
| Series A-1, 5.00%, 12/01/40 |
680 | 697,975 | ||||||
|
|
|
|||||||
| 28,974,601 | ||||||||
| Puerto Rico — 4.7% | ||||||||
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, Series A1, Restructured, 4.75%, 07/01/53 |
6,611 | 6,206,678 | ||||||
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, CAB, Series A1, Restructured, 0.00%, 07/01/46(d) |
5,025 | 1,366,363 | ||||||
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB |
||||||||
| Series A1, Restructured, 5.00%, 07/01/58 |
2,718 | 2,613,800 | ||||||
| Series A-2, Restructured, 4.78%, 07/01/58 |
276 | 255,635 | ||||||
| Series A-2, Restructured, 4.33%, 07/01/40 |
1,324 | 1,229,850 | ||||||
| Series B-1, Restructured, 4.75%, 07/01/53 |
424 | 396,407 | ||||||
| Series B-2, Restructured, 4.78%, 07/01/58 |
411 | 381,413 | ||||||
|
|
|
|||||||
| 12,450,146 | ||||||||
| Rhode Island — 0.2% | ||||||||
| Rhode Island Turnpike & Bridge Authority, Refunding RB, Series A, 5.00%, 10/01/40 |
415 | 430,375 | ||||||
|
|
|
|||||||
| South Carolina — 6.7% | ||||||||
| Charleston County Airport District, ARB, Series A, AMT, 5.50%, 07/01/23(e) |
1,360 | 1,363,830 | ||||||
| County of Berkeley South Carolina, SAB |
||||||||
| 4.25%, 11/01/40 |
315 | 260,798 | ||||||
| 4.38%, 11/01/49 |
465 | 356,609 | ||||||
| South Carolina Jobs-Economic Development Authority, RB |
||||||||
| 5.00%, 11/01/43 |
2,010 | 2,094,523 | ||||||
| 5.00%, 01/01/55(b) |
855 | 728,065 | ||||||
| 7.50%, 08/15/62(b) |
405 | 392,096 | ||||||
| South Carolina Jobs-Economic Development Authority, Refunding RB, Series A, 5.00%, 05/01/38 |
2,220 | 2,290,476 | ||||||
| South Carolina Ports Authority, ARB, AMT, 5.00%, 07/01/48 |
470 | 480,559 | ||||||
| South Carolina Public Service Authority, RB |
||||||||
| Series A, 5.50%, 12/01/54 |
3,935 | 3,970,628 | ||||||
| Series A, 4.00%, 12/01/55 |
550 | 479,525 | ||||||
| Series E, 5.50%, 12/01/53 |
2,820 | 2,833,795 | ||||||
| Security | Par (000) |
Value | ||||||
| South Carolina (continued) | ||||||||
| South Carolina Public Service Authority, Refunding RB, 5.00%, 12/01/38 |
$ | 1,840 | $ | 1,848,374 | ||||
| South Carolina State Housing Finance & Development Authority, RB, S/F Housing, Series B, 4.35%, 07/01/47 |
470 | 458,534 | ||||||
|
|
|
|||||||
| 17,557,812 | ||||||||
| Tennessee — 3.8% | ||||||||
| Greeneville Health & Educational Facilities Board, Refunding RB, Series A, 4.00%, 07/01/40 |
750 | 716,010 | ||||||
| Metropolitan Nashville Airport Authority, ARB, Series B, AMT, 5.00%, 07/01/52 |
1,020 | 1,057,942 | ||||||
| Tennergy Corp., RB(a) |
||||||||
| Series A, 4.00%, 12/01/51 |
1,270 | 1,270,052 | ||||||
| Series A, 5.50%, 10/01/53 |
1,040 | 1,118,795 | ||||||
| Tennessee Energy Acquisition Corp., RB, Series A, 5.00%, 05/01/52(a) |
3,600 | 3,807,032 | ||||||
| Tennessee Energy Acquisition Corp., Refunding RB, Series A-1, 5.00%, 05/01/53(a) |
2,055 | 2,127,770 | ||||||
|
|
|
|||||||
| 10,097,601 | ||||||||
| Texas — 13.4% | ||||||||
| Arlington Higher Education Finance Corp., RB(b) |
||||||||
| 7.50%, 04/01/62 |
420 | 445,822 | ||||||
| 7.88%, 11/01/62 |
370 | 380,518 | ||||||
| Central Texas Turnpike System, RB |
||||||||
| Series C, 5.00%, 08/15/37 |
1,240 | 1,256,858 | ||||||
| Series C, 5.00%, 08/15/42 |
625 | 631,288 | ||||||
| City of Houston Texas Airport System Revenue, ARB, Series A, AMT, 6.63%, 07/15/38 |
405 | 405,096 | ||||||
| City of Houston Texas Airport System Revenue, Refunding ARB, AMT, 5.00%, 07/15/27 |
230 | 233,850 | ||||||
| City of Houston Texas Airport System Revenue, Refunding RB |
||||||||
| Series A, AMT, 5.00%, 07/01/27 |
225 | 229,227 | ||||||
| Sub-Series A, AMT, 4.00%, 07/01/46 |
830 | 763,218 | ||||||
| Sub-Series A, AMT, 4.00%, 07/01/48 |
2,510 | 2,278,036 | ||||||
| County of Harris Texas Toll Road Revenue, Refunding RB, 1st Lien, 4.00%, 08/15/45 |
425 | 415,880 | ||||||
| Cypress-Fairbanks Independent School District, GO, (PSF), 4.00%, 02/15/48(f) |
225 | 221,089 | ||||||
| Dallas Fort Worth International Airport, Refunding RB, Series F, 5.25%, 11/01/33 |
865 | 874,498 | ||||||
| Fort Worth Independent School District, GO, (PSF), 4.00%, 02/15/48 |
500 | 492,076 | ||||||
| Leander Independent School District, Refunding GO, CAB, Series D, (PSF), |
3,020 | 1,488,643 | ||||||
| Midland County Fresh Water Supply District No. 1, RB, CAB, Series A, 0.00%, 09/15/27(d)(e) |
1,850 | 1,051,542 | ||||||
| New Hope Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 08/15/50(b) |
450 | 392,149 | ||||||
| North Texas Tollway Authority, RB, Series C, Convertible, 6.75%, 09/01/31(e) |
10,000 | 13,171,450 | ||||||
| North Texas Tollway Authority, Refunding RB, 4.25%, 01/01/49 |
1,090 | 1,073,083 | ||||||
| Spring Independent School District, GO, 5.00%, 08/15/45 |
650 | 721,226 | ||||||
| Tarrant County Cultural Education Facilities Finance Corp., RB |
||||||||
| 5.00%, 11/15/51 |
1,180 | 1,250,427 | ||||||
| Series A, 4.00%, 07/01/53 |
525 | 478,185 | ||||||
| Series A, 5.00%, 07/01/53 |
645 | 671,370 | ||||||
| 5 |
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniYield Quality Fund II, Inc. (MQT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
| Tarrant County Cultural Education Facilities Finance Corp., RB (continued) |
||||||||
| Series B, 5.00%, 07/01/36 |
$ | 1,815 | $ | 1,945,544 | ||||
| Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, 5.25%, 12/01/39 |
750 | 758,545 | ||||||
| Texas City Industrial Development Corp., RB, Series 2012, 4.13%, 12/01/45 |
260 | 227,048 | ||||||
| Texas Department of Housing & Community Affairs, RB, S/F Housing |
||||||||
| Series A, (GNMA COLL), 4.25%, 09/01/43 |
215 | 214,404 | ||||||
| Series A, (GNMA COLL), 3.75%, 09/01/49 |
365 | 354,063 | ||||||
| Texas Municipal Gas Acquisition & Supply Corp. III, Refunding RB, 5.00%, 12/15/32 |
1,500 | 1,586,997 | ||||||
| Texas Private Activity Bond Surface Transportation Corp., RB, AMT, Senior Lien, 5.00%, 12/31/45 |
1,135 | 1,146,595 | ||||||
|
|
|
|||||||
| 35,158,727 | ||||||||
| Utah — 2.6% | ||||||||
| City of Salt Lake City Utah Airport Revenue, ARB |
||||||||
| Series A, AMT, 5.00%, 07/01/47 |
1,095 | 1,115,890 | ||||||
| Series A, AMT, 5.00%, 07/01/48 |
395 | 403,133 | ||||||
| County of Utah, RB, Series B, 4.00%, 05/15/47 |
5,135 | 4,950,356 | ||||||
| Utah Charter School Finance Authority, RB, Series A, 5.00%, 06/15/39(b) |
185 | 173,664 | ||||||
| Utah Charter School Finance Authority, Refunding RB, 5.00%, 06/15/40(b) |
335 | 311,938 | ||||||
|
|
|
|||||||
| 6,954,981 | ||||||||
| Virginia — 0.6% | ||||||||
| Roanoke Economic Development Authority, Refunding RB, 3.00%, 07/01/45 |
910 | 716,735 | ||||||
| Tobacco Settlement Financing Corp., Refunding RB, Series B-1, 5.00%, 06/01/47 |
965 | 905,442 | ||||||
|
|
|
|||||||
| 1,622,177 | ||||||||
| Washington — 2.5% | ||||||||
| Port of Seattle Washington, ARB |
||||||||
| Series C, AMT, 5.00%, 04/01/40 |
900 | 911,610 | ||||||
| Series C, AMT, Intermediate Lien, 5.00%, 05/01/42 |
720 | 742,028 | ||||||
| Snohomish County Housing Authority, Refunding RB, 4.00%, 04/01/44 |
430 | 396,703 | ||||||
| Washington Health Care Facilities Authority, RB, 4.00%, 10/01/45 |
630 | 577,171 | ||||||
| Washington Health Care Facilities Authority, Refunding RB, 5.00%, 10/01/38 |
3,040 | 3,127,768 | ||||||
| Washington State Housing Finance Commission, RB, M/F Housing, Series A-1, 3.50%, 12/20/35 |
841 | 789,782 | ||||||
|
|
|
|||||||
| 6,545,062 | ||||||||
| Wisconsin — 1.8% | ||||||||
| Public Finance Authority, RB |
||||||||
| 5.00%, 10/15/56(b) |
215 | 184,686 | ||||||
| Class A, 5.00%, 06/15/51(b) |
555 | 458,885 | ||||||
| Class A, 6.00%, 06/15/52 |
140 | 133,801 | ||||||
| Class A, 6.13%, 06/15/57 |
160 | 154,025 | ||||||
| Series A, 5.00%, 07/15/39(b) |
100 | 89,698 | ||||||
| Series A, 5.00%, 07/01/40(b) |
300 | 279,829 | ||||||
| Series A, 5.00%, 07/15/49(b) |
355 | 295,779 | ||||||
| Series A, 5.00%, 07/15/54(b) |
170 | 138,823 | ||||||
| Security | Par (000) |
Value | ||||||
| Wisconsin (continued) | ||||||||
| Public Finance Authority, Refunding RB, 5.00%, 09/01/39(b) |
$ | 295 | $ | 247,822 | ||||
| Wisconsin Housing & Economic Development Authority Housing Revenue, RB, M/F Housing |
||||||||
| Series A, 4.15%, 11/01/48 |
1,920 | 1,803,304 | ||||||
| Series A, 4.45%, 05/01/57 |
1,030 | 963,393 | ||||||
|
|
|
|||||||
| 4,750,045 | ||||||||
|
|
|
|||||||
| Total Municipal Bonds — 135.2% |
355,812,757 | |||||||
|
|
|
|||||||
| Municipal Bonds Transferred to Tender Option Bond Trusts(g) |
| |||||||
| District of Columbia — 0.3% | ||||||||
| District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2, 4.10%, 09/01/39 |
920 | 897,628 | ||||||
|
|
|
|||||||
| Florida — 3.6% | ||||||||
| City of Tampa Florida Water & Wastewater System Revenue, RB, Series A, 5.25%, 10/01/57 |
2,150 | 2,385,968 | ||||||
| County of Seminole Florida Sales Tax Revenue, Refunding RB, Series B, (NPFGC), 5.25%, 10/01/31 |
4,200 | 4,883,010 | ||||||
| Miami-Dade County Expressway Authority, Refunding RB, Series A, (AGM), 5.00%, 07/01/35 |
2,100 | 2,103,336 | ||||||
|
|
|
|||||||
| 9,372,314 | ||||||||
| Illinois — 5.7% | ||||||||
| City of Chicago Illinois Waterworks Revenue, Refunding RB, 2nd Lien, (AGM), 5.25%, 11/01/33 |
490 | 490,816 | ||||||
| Illinois Finance Authority, Refunding RB, Series A, 5.00%, 08/15/51 |
1,951 | 2,059,479 | ||||||
| Illinois State Toll Highway Authority, RB, Series A, 5.00%, 01/01/38 |
1,858 | 1,858,658 | ||||||
| Regional Transportation Authority, RB, (NPFGC), 6.50%, 07/01/26 |
10,000 | 10,694,955 | ||||||
|
|
|
|||||||
| 15,103,908 | ||||||||
| New York — 4.1% | ||||||||
| New York City Housing Development Corp., Refunding RB, Series A, 4.15%, 11/01/38 |
1,899 | 1,845,956 | ||||||
| New York City Municipal Water Finance Authority, Refunding RB, Series DD, 5.00%, 06/15/35 |
1,470 | 1,512,078 | ||||||
| New York State Dormitory Authority, Refunding RB, Series A, 4.00%, 03/15/47 |
1,810 | 1,770,594 | ||||||
| Port Authority of New York & New Jersey, Refunding ARB, 5.25%, 10/15/57 |
1,910 | 2,004,832 | ||||||
| Triborough Bridge & Tunnel Authority, RB, Series A, 5.00%, 11/15/51 |
1,990 | 2,134,484 | ||||||
| Triborough Bridge & Tunnel Authority, Refunding RB, Series C, 4.13%, 05/15/52 |
1,500 | 1,503,728 | ||||||
|
|
|
|||||||
| 10,771,672 | ||||||||
| S C H E D U L E O F I N V E S T M E N T S | 6 |
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniYield Quality Fund II, Inc. (MQT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
|
||||||||
| Virginia — 1.2% | ||||||||
| Hampton Roads Transportation Accountability Commission, RB, Series A, 4.00%, 07/01/57 |
$ | 3,280 | $ | 3,145,941 | ||||
|
|
|
|||||||
| Total Municipal Bonds Transferred to Tender Option Bond Trusts — 14.9% |
|
39,291,463 | ||||||
|
|
|
|||||||
| Total Long-Term Investments — 150.1% |
|
395,104,220 | ||||||
|
|
|
|||||||
| Shares | ||||||||
|
|
||||||||
| Short-Term Securities |
||||||||
| Money Market Funds — 1.2% | ||||||||
| BlackRock Liquidity Funds, MuniCash, Institutional Class, 3.27%(h)(i) |
2,989,707 | 2,989,408 | ||||||
|
|
|
|||||||
| Total Short-Term Securities — 1.2% |
2,989,408 | |||||||
|
|
|
|||||||
| Total Investments — 151.3% |
398,093,628 | |||||||
| Other Assets Less Liabilities — 1.1% |
2,865,213 | |||||||
| Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (8.1)% |
|
(21,285,084 | ) | |||||
| VMTP Shares at Liquidation Value, Net of Deferred Offering Costs — (44.3)% |
|
(116,500,000 | ) | |||||
|
|
|
|||||||
| Net Assets Applicable to Common Shares — 100.0% |
$ | 263,173,757 | ||||||
|
|
|
|||||||
| (a) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
| (b) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
| (c) | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
| (d) | Zero-coupon bond. |
| (e) | 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. |
| (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) | Affiliate of the Fund. |
| (i) | Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 07/31/22 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 04/30/23 |
Shares Held at 04/30/23 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
| BlackRock Liquidity Funds, MuniCash, Institutional Class |
$ | 661,236 | $ | 2,327,765 | (a) | $ | — | $ | 447 | $ | (40 | ) | $ | 2,989,408 | 2,989,707 | $ | 62,938 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (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 |
55 | 06/21/23 | $ | 6,350 | $ | (199,704 | ) | |||||||||
| U.S. Long Bond |
77 | 06/21/23 | 10,154 | (388,865 | ) | |||||||||||
| 5-Year U.S. Treasury Note |
52 | 06/30/23 | 5,718 | (139,311 | ) | |||||||||||
|
|
|
|||||||||||||||
| $ | (727,880 | ) | ||||||||||||||
|
|
|
|||||||||||||||
| 7 |
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniYield Quality Fund II, Inc. (MQT) |
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 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 Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets |
||||||||||||||||
| Investments |
||||||||||||||||
| Long-Term Investments |
||||||||||||||||
| Municipal Bonds |
$ | — | $ | 355,812,757 | $ | — | $ | 355,812,757 | ||||||||
| Municipal Bonds Transferred to Tender Option Bond Trusts |
— | 39,291,463 | — | 39,291,463 | ||||||||||||
| Short-Term Securities |
||||||||||||||||
| Money Market Funds |
2,989,408 | — | — | 2,989,408 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 2,989,408 | $ | 395,104,220 | $ | — | $ | 398,093,628 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Derivative Financial Instruments(a) |
||||||||||||||||
| Liabilities |
||||||||||||||||
| Interest Rate Contracts |
$ | (727,880 | ) | $ | — | $ | — | $ | (727,880 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows:
|
|
||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
|
||||||||||||||||
| Liabilities |
||||||||||||||||
| TOB Trust Certificates |
$ | — | $ | (21,137,809 | ) | $ | — | $ | (21,137,809 | ) | ||||||
| VMTP Shares at Liquidation Value |
— | (116,500,000 | ) | — | (116,500,000 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | — | $ | (137,637,809 | ) | $ | — | $ | (137,637,809 | ) | |||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Portfolio Abbreviation | ||
| AGM | Assured Guaranty Municipal Corp. | |
| AGM-CR | AGM Insured Custodial Receipt | |
| AMT | Alternative Minimum Tax | |
| ARB | Airport Revenue Bonds | |
| BAM-TCRS | Build America Mutual Assurance Co.- Transferable Custodial Receipts | |
| CAB | Capital Appreciation Bonds | |
| Portfolio Abbreviation (continued) | ||
| COP | Certificates of Participation | |
| CR | Custodian Receipt | |
| FHLMC | Federal Home Loan Mortgage Corp. | |
| FNMA | Federal National Mortgage Association | |
| GNMA | Government National Mortgage Association | |
| GO | General Obligation Bonds | |
| GTD | GTD Guaranteed | |
| S C H E D U L E O F I N V E S T M E N T S | 8 |
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniYield Quality Fund II, Inc. (MQT) |
| Portfolio Abbreviation (continued) | ||
| 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 | |
| 9 |