NPORT-EX 2 NPORT_8262739928297068.htm EX-MCA

Schedule of Investments  (unaudited)

April 30, 2020

   

BlackRock MuniYield California Quality Fund, Inc. (MCA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds — 90.4%

 

California — 86.9%

 

Corporate — 1.4%  

California Pollution Control Financing Authority, RB, San Jose Water Company Project, AMT,
4.75%, 11/01/46

   $ 4,000     $ 4,430,240  

City of Chula Vista California, Refunding RB, San Diego Gas & Electric, Series A, 5.88%, 02/15/34

     2,435       2,442,402  
   

 

 

  
      6,872,642  
County/City/Special District/School District — 29.8%  

Chaffey Joint Union High School District, GO, CAB, Election of 2012, Series C(a):

    

0.00%, 08/01/32

     250       174,728  

0.00%, 08/01/33

     500       331,835  

0.00%, 08/01/34

     505       319,296  

0.00%, 08/01/35

     545       328,357  

0.00%, 08/01/36

     500       287,710  

0.00%, 08/01/37

     650       357,285  

0.00%, 08/01/38

     630       330,756  

0.00%, 08/01/39

     750       376,395  

0.00%, 08/01/40

     1,850       888,277  

0.00%, 08/01/41

     305       140,044  

0.00%, 02/01/42

     350       157,035  

Chino Valley Unified School District, GO, Series B, 4.00%, 08/01/45

     640       712,026  

City & County of San Francisco California, COP, Port Facilities Project, Series C, AMT, 5.25%, 03/01/32

     1,050       1,152,669  

City of Sacramento California Transient Occupancy Tax Revenue, RB, Convention Center Complex, Series A, 5.00%, 06/01/48

     3,750       4,181,850  

County of San Joaquin California Transportation Authority, Refunding RB, Limited Tax, Measure K, Series A, 6.00%, 03/01/21(b)

     2,530       2,640,055  

El Monte City School District California, GO, Los Angeles Country, California Series B, 5.50%, 08/01/46

     4,265       5,009,669  

Fowler Unified School District, GO, Election of 2016, Series A (BAM), 5.25%, 08/01/46

     3,700       4,175,524  

Garden Grove Unified School District, GO, Election of 2010, Series C, 5.25%, 08/01/23(b)

     2,725       3,110,233  

Gavilan Joint Community College District, GO, Election of 2004, Series D(b):

    

5.50%, 08/01/21

     2,165       2,294,619  

5.75%, 08/01/21

     8,400       8,928,780  
Security   Par
(000)		     Value  
County/City/Special District/School District (continued)  

Grossmont California Healthcare District, GO, Election of 2006, Series B, 6.13%, 07/15/21(b)

   $ 2,000     $ 2,126,380  

Grossmont California Union High School District, GO, Election of 2008, Series C,
5.50%, 08/01/21(b)

     1,880       1,988,495  

Hayward Unified School District, GO, Series A (BAM), 4.00%, 08/01/48

     2,000       2,156,300  

Kern Community College District, GO, Safety Repair & Improvements, Series C,
5.25%, 11/01/23(b)

     5,715       6,551,219  

Menifee Union School District, GO, Series B (BAM), 4.00%, 08/01/43

     5,370       5,822,798  

Mount San Antonio Community College District, GO, Refunding, Election of 2008, Series A, 5.00%, 08/01/23(b)

     4,500       5,099,895  

Ohlone Community College District, GO, Election of 2010, Series A, 5.25%, 08/01/21(b)

     8,140       8,602,189  

Perris Union High School District California, GO, Election of 2012, Series B (BAM),
5.25%, 09/01/39

     2,715       3,090,322  

Perris Union High School District California, COP, Refunding School Financing Project (BAM), 4.00%, 10/01/43

     10,000       11,116,100  

Riverside County Public Financing Authority, Tax Allocation Bonds, Series A (BAM),
4.00%, 10/01/40

     5,455       5,817,539  

RNR School Financing Authority, Special Tax Bonds, Community Facilities District No. 92-1, Series A (BAM):

    

5.00%, 09/01/37

     1,500       1,707,330  

5.00%, 09/01/41

     3,000       3,377,880  

San Jose Financing Authority, Civic Center Project, LRB, Convention Center Expansion & Renovation Project:

    

5.75%, 05/01/36

     2,570       2,578,224  

5.75%, 05/01/42

     4,500       4,676,175  

San Jose Financing Authority, Refunding LRB, Series A:

    

5.00%, 06/01/32

     3,375       3,725,494  

5.00%, 06/01/39

     5,800       6,313,242  

San Leandro Unified School District, GO, Election of 2010, Series A, 5.75%, 08/01/41

     3,000       3,154,470  

Santa Clara Unified School District, GO, Election of 2018, 4.00%, 07/01/48

     5,000       5,397,600  

State of California, GO, Various Purpose,
4.00%, 04/01/49

     5,550       6,004,212  
 

 

 

     1  

Schedule of Investments  (unaudited) (continued)

April 30, 2020

   

BlackRock MuniYield California Quality Fund, Inc. (MCA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
County/City/Special District/School District (continued)  

Vacaville Unified School District, GO, Series D, 4.00%, 08/01/45

   $ 1,725     $ 1,877,662  

Walnut Valley Unified School District, GO, Election of 2007, Series B, 5.75%, 08/01/21(b)

     7,680       8,163,456  

Washington Township Health Care District, GO, Election of 2004, Series B, 5.50%, 08/01/38

     1,625       1,873,544  

West Contra Costa California Unified School District, GO:

    

Election of 2010, Series A (AGM),
5.25%, 08/01/21(b)

     6,140       6,488,629  

Election of 2010, Series B, 5.50%, 08/01/39

     3,000       3,378,330  

Election of 2012, Series A, 5.50%, 08/01/39

     2,500       2,815,275  
   

 

 

  
      149,799,903  
Education — 7.3%  

California Educational Facilities Authority, RB, University of San Francisco, Series A,
5.00%, 10/01/53

     10,000       11,011,300  

California Municipal Finance Authority, RB:

    

Emerson College, 6.00%, 01/01/22(b)

     2,750       2,985,070  

John Adams Academy, Series A,
5.00%, 10/01/39(c)

     245       226,397  

John Adams Academy, Series A,
5.00%, 10/01/49(c)

     410       359,984  

John Adams Academy, Series A,
5.00%, 10/01/57(c)

     810       692,769  

Urban Discovery Academy Project, Series A, 5.50%, 08/01/34(c)

     250       223,223  

California Municipal Finance Authority, Refunding RB, Master’s University:

    

5.00%, 08/01/39

     645       615,485  

5.00%, 08/01/48

     305       275,113  

California School Finance Authority, RB(c):

    

Alliance for College-Ready Public Schools Projects, Series A, 5.00%, 07/01/36

     755       783,463  

Arts in Action Charter Schools,
5.00%, 06/01/40

     305       287,517  

Arts in Action Charter Schools,
5.00%, 06/01/50

     475       432,269  

Arts in Action Charter Schools,
5.00%, 06/01/59

     760       675,344  

Kipp Socal Projects, Series A, 5.00%, 07/01/49

     500       506,680  
Security   Par
(000)		     Value  
Education (continued)  

Real Journey Academies, Series A,
5.00%, 06/01/58

   $ 2,385     $ 1,906,879  

Teach Public Schools, Series A, 5.00%, 06/01/58

     1,230       1,122,769  

California School Finance Authority, Refunding RB, Aspire Public Schools - Obligated Group,
5.00%, 08/01/46(c)

     1,250       1,237,500  

California Statewide Communities Development Authority, RB, University of California, Irvine East Campus, Series A, 5.00%, 05/15/37

     4,000       4,279,160  

California Statewide Communities Development Authority, Refunding RB, CHF-Irvine LLC:

    

5.00%, 05/15/33

     2,625       2,790,427  

5.00%, 05/15/40

     2,250       2,386,620  

University of California, RB, Series AM,
5.25%, 05/15/36

     3,680       4,203,811  
   

 

 

  
      37,001,780  
Health — 7.1%  

California Health Facilities Financing Authority, RB, Children’s Hospital, Series A, 5.25%, 11/01/41

     10,000       10,532,700  

California Health Facilities Financing Authority, Refunding RB, Adventist Health System West, Series A:

    

4.00%, 03/01/39

     985       1,028,232  

4.00%, 03/01/43

     1,400       1,423,814  

California Municipal Finance Authority, Refunding RB, Series A:

    

Community Medical Centers, 5.00%, 02/01/42

     4,000       4,456,960  

5.00%, 11/01/39(c)

     215       195,039  

5.00%, 11/01/49(c)

     245       210,406  

California Statewide Communities Development Authority, RB:

    

Green Bond, Marin General Hospital,
4.00%, 08/01/45

     2,500       2,618,950  

Huntington Memorial Hospital Project,
4.00%, 07/01/48

     1,780       1,834,076  
 

 

 

2   

Schedule of Investments  (unaudited) (continued)

April 30, 2020

   

BlackRock MuniYield California Quality Fund, Inc. (MCA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Health (continued)  

Methodist Hospital of Southern California,
4.25%, 01/01/43

   $ 3,450     $ 3,218,746  

California Statewide Communities Development Authority, Refunding RB:

    

Front Porch Communities and Services,
4.00%, 04/01/42

     2,595       2,615,916  

Front Porch Communities and Services,
4.00%, 04/01/47

     1,320       1,312,384  

John Muir Health, Series A, 4.00%, 12/01/57

     3,250       3,320,395  

Trinity Health Credit Group Composite Issue,
5.00%, 12/01/21(b)

     2,860       3,054,194  
   

 

 

  
      35,821,812  
Housing — 4.1%  

California Community Housing Agency, RB, M/F Housing(c):

    

Annadel Apartments, Series A, 5.00%, 04/01/49

     1,795       1,697,460  

Verdant at Green Valley Project, 5.00%, 08/01/49

     1,855       1,759,504  

California Housing Finance, RB, M/F Housing:

    

Series 2-A, 4.00%, 03/20/33

     4,085       3,927,333  

Series A, 4.25%, 01/15/35

     1,367       1,318,238  

California Statewide Communities Development Authority, Special Assessment Bonds, Statewide Community Infrastructure Program:

    

M/F Housing, , Series C, 5.00%, 09/02/49

     225       243,718  

M/F Housing, Series C, 5.00%, 09/02/39

     435       481,941  

S/F Housing, 5.00%, 09/02/39

     465       515,178  

S/F Housing, 5.00%, 09/02/44

     535       579,293  

S/F Housing, 5.00%, 09/02/49

     775       839,472  

Freddie Mac Multifamily Maryland Certificates, RB, M/F Housing, Pass-Through, Class A,
3.35%, 11/25/33

     8,539       9,346,000  
   

 

 

  
      20,708,137  
State — 2.2%  

County of Riverside Redevelopment Successor Agency, Refunding, Tax Allocation Bonds, Series A, 4.00%, 10/01/37

     6,000       6,279,240  

State of California, GO, Various Purposes, 6.00%, 03/01/33

     1,845       1,851,384  
Security   Par
(000)		     Value  
State (continued)  

State of California Public Works Board, RB, Various Capital Projects, Series I, 5.50%, 11/01/33

   $ 2,575     $ 2,920,024  
   

 

 

  
      11,050,648  
Tobacco — 5.8%  

County of California Tobacco Securitization Agency, RB, Asset Backed, Series A, 5.45%, 06/01/28

     1,180       1,179,988  

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

    

5.00%, 06/01/33

     2,175       2,472,757  

5.00%, 06/01/35

     3,215       3,658,766  

3.50%, 06/01/36

     6,295       6,150,719  

5.00%, 06/01/47

     7,500       7,281,525  

Tobacco Securitization Authority of Northern California, Refunding RB, Asset-Backed Bonds, Series A-1, 5.50%, 06/01/45

     1,235       1,216,969  

Tobacco Securitization Authority of Southern California, Refunding RB:

    

San Diego Country Tobacco Asset Securitization Corporation,
0.00%, 06/01/54(a)

     11,850       1,766,954  

Series A, 5.00%, 06/01/48

     4,500       4,747,770  

Tobacco Asset Securitization Corporation,
5.00%, 06/01/48

     575       579,721  
   

 

 

  
      29,055,169  
Transportation — 21.3%  

Alameda Corridor Transportation Authority, Refunding RB, 2nd Subordinate Lien, Series B, 5.00%, 10/01/35

     1,500       1,639,530  

Bay Area Toll Authority, Refunding RB, Subordinate, Series S-8, 3.00%, 04/01/54

     13,230       12,715,882  

California Municipal Finance Authority, ARB, Senior Lien, Linxs APM Project, AMT:

    

5.00%, 12/31/43

     6,500       6,741,345  

4.00%, 12/31/47

     7,500       7,173,300  

(AGM), 4.00%, 12/31/47

     2,845       2,923,323  

City & County of San Francisco California Airports Commission, Refunding ARB, AMT, Series A:

    

2nd, 5.25%, 05/01/33

     1,900       2,049,150  

5.00%, 05/01/40

     3,785       4,037,838  

5.00%, 05/01/44

     6,000       6,727,260  
 

 

 

     3  

Schedule of Investments  (unaudited) (continued)

April 30, 2020

   

BlackRock MuniYield California Quality Fund, Inc. (MCA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Transportation (continued)  

5.00%, 05/01/44

   $ 2,660     $ 2,822,100  

5.00%, 05/01/49

     3,500       3,917,795  

City & County of San Francisco California Airports Commission, Refunding RB, AMT, San Francisco International Airport, Series D, 5.00%, 05/01/43

     7,715       8,578,000  

City of Los Angeles California Department of Airports, ARB:

    

Los Angeles International Airport, Sub-Series B, 5.00%, 05/15/40

     2,500       2,505,950  

Series D, AMT, 5.00%, 05/15/35

     2,000       2,226,820  

Series D, AMT, 5.00%, 05/15/36

     1,500       1,667,520  

City of Los Angeles Department of Airports, ARB, AMT, Subordinate, Series C, 5.00%, 05/15/38

     3,215       3,605,558  

City of San Jose California, Refunding ARB, Norman Y Mineta San Jose International Airport SJC, AMT:

    

Series A, 5.00%, 03/01/41

     3,075       3,437,788  

Series A, 5.00%, 03/01/47

     6,770       7,507,321  

Series A-1, 6.25%, 03/01/34

     1,400       1,446,074  

County of Sacramento California Airport System Revenue, Refunding ARB:

    

Airport System Subordinate Revenue, Sub-Series B, 5.00%, 07/01/41

     1,750       1,889,808  

Senior Series A, 5.00%, 07/01/41

     2,500       2,801,775  

County of San Bernardino California Transportation Authority, RB, Limited Tax Bonds, Series A, 5.25%, 03/01/40

     4,500       5,084,235  

County of San Diego California Regional Airport Authority, Refunding ARB, Series B,
5.00%, 07/01/40

     6,350       6,385,433  

County of San Diego Regional Airport Authority, ARB, Subordinate, Series B, AMT,
5.00%, 07/01/47

     6,000       6,591,000  

Port of Los Angeles Harbor Department, Refunding RB, Series A, AMT, 5.00%, 08/01/44

     200       217,442  

San Diego County Regional Airport Authority, Refunding RB, Subordinate Revenue Bonds, AMT:

    

5.00%, 07/01/37

     350       407,484  

5.00%, 07/01/38

     350       406,760  

5.00%, 07/01/39

     500       579,695  
Security   Par
(000)		     Value  
Transportation (continued)  

5.00%, 07/01/40

   $ 700     $ 809,214  
   

 

 

  
      106,895,400  
Utilities — 7.9%  

Anaheim Public Financing Authority, RB, Electric System Distribution Facilities, Series A,
5.38%, 04/01/21(b)

     5,000       5,213,750  

City of Los Angeles California Department of Water & Power, Refunding RB, Water System, Series A, 5.25%, 07/01/39

     8,000       8,212,160  

City of San Francisco California Public Utilities Commission Water Revenue, RB, Sub-Series A (WSIP), 5.00%, 11/01/21(b)

     7,200       7,669,152  

City of San Francisco California Public Utilities Commission Water Revenue, Refunding RB, Series A, 5.00%, 11/01/36

     2,335       2,708,133  

Dublin-San Ramon Services District Water Revenue, Refunding RB, 6.00%, 02/01/21(b)

     4,000       4,158,120  

El Dorado Irrigation District, Refunding RB, Series A (AGM), 5.25%, 03/01/39

     5,000       5,689,850  

San Diego Public Facilities Financing Authority, Refunding RB, Subordinated, Series A,
5.25%, 08/01/47

     5,000       5,886,400  
   

 

 

  
      39,537,565  

Total Municipal Bonds in California — 86.9%

 

     436,743,056  
   

 

 

  

Puerto Rico — 3.5%

 

State — 3.5%  

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

    

CAB, Series A-1, 0.00%, 07/01/46(a)

     3,222       740,931  

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

     660       616,453  

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

     364       325,088  

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

     136       122,426  

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

     735       662,441  

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

     8,899       8,307,306  

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

     7,022       6,255,338  
 

 

 

4   

Schedule of Investments  (unaudited) (continued)

April 30, 2020

   

BlackRock MuniYield California Quality Fund, Inc. (MCA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
State (continued)  

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

   $ 713     $ 635,625  
   

 

 

  

Total Municipal Bonds in Puerto Rico — 3.5%

 

     17,665,608  

Total Municipal Bonds — 90.4%
(Cost — $444,648,329)

 

     454,408,664  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(d) — 80.1%

 

California — 80.1%

 

County/City/Special District/School District — 24.7%  

California Municipal Finance Authority, RB, Orange County Civic Center Infrastructure, 5.00%, 06/01/48

     9,500       10,786,490  

County of Riverside California Public Financing Authority, RB, Capital Facilities Project,
5.25%, 11/01/45

     10,000       11,241,898  

County of San Luis California Obispo Community College District, GO, Refunding, Election of 2014, Series A, 4.00%, 08/01/40

     6,585       7,123,915  

County of San Mateo California Community College District, GO, Election of 2014, Series A, 5.00%, 09/01/45

     17,615       20,017,674  

Fremont Union High School District, GO, Refunding, Series A, 4.00%, 08/01/46

     4,996       5,670,103  

Los Angeles California Unified School District, GO, Election of 2008, Series B-1,
5.25%, 07/01/42(e)

     7,075       8,388,969  

Los Angeles County Facilities Inc., RB, Vermont Corridor County Administration Building, Series A, 5.00%, 12/01/51(e)

     11,420       13,261,932  

Palomar Community College District, GO, Election of 2006, Series C, 5.00%, 08/01/44

     15,140       17,396,920  

Sacramento Area Flood Control Agency, Refunding, Consolidated Capital Assessment District No. 2, Series A, 5.00%, 10/01/43

     10,005       11,647,421  
Security   Par
(000)		     Value  
County/City/Special District/School District (continued)  

West Valley-Mission Community College District, GO, Election of 2012, Series B, 4.00%, 08/01/40

   $ 17,000     $ 18,463,020  
   

 

 

  
      123,998,342  
Education — 12.0%  

Los Rios Community College District, GO, Election of 2008, Series A, 5.00%, 08/01/20(b)

     11,000       11,115,170  

State of California University, Refunding RB, Series A, 5.00%, 11/01/43

     13,002       14,894,880  

University of California, RB, Series AM,
5.25%, 05/15/44

     9,210       10,366,131  

University of California, Refunding RB, Series I, 5.00%, 05/15/40

     21,105       24,033,946  
   

 

 

  
      60,410,127  
Health — 19.6%  

California Health Facilities Financing Authority, Refunding RB, Kaiser Permanent, Sub-Series A-2, 4.00%, 11/01/44

     13,280       14,326,464  

California Health Facilities Financing Authority, RB:

    

Lucile Salter Packard Children’s Hospital at Stanford, 5.00%, 11/15/56

     6,000       6,706,620  

Sutter Health, Series A, 4.00%, 11/15/42

     7,500       7,756,425  

Sutter Health, Series A, 5.00%, 08/15/52

     10,000       10,651,400  

California Health Facilities Financing Authority, Refunding RB:

    

Lucile Salter Packard Children’s Hospital, Series B, 5.00%, 08/15/55

     4,500       4,955,355  

Providence St. Joseph Health, Series A,
4.00%, 10/01/47

     6,018       6,268,731  

Sutter Health, Series A, 5.00%, 08/15/43

     24,940       27,103,046  

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

     19,860       20,923,702  
   

 

 

  
      98,691,743  
 

 

 

     5  

Schedule of Investments  (unaudited) (continued)

April 30, 2020

   

BlackRock MuniYield California Quality Fund, Inc. (MCA)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
State — 1.8%  

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

   $ 3,000     $ 3,488,280  

State of California, GO, Various Purpose, 4.00%, 03/01/50(e)

     5,000       5,508,449  
   

 

 

  
      8,996,729  
Transportation — 9.7%  

Bay Area Toll Authority, Refunding RB, San Francisco Bay Area Toll Bridge(e):

    

4.00%, 04/01/42

     11,250       12,037,610  

4.00%, 04/01/49

     6,555       6,845,780  

City of Los Angeles California Department of Airports, ARB, AMT:

    

Los Angeles International Airport, Series B,
5.00%, 05/15/46

     5,000       5,400,400  

Series D, 5.00%, 05/15/41

     13,311       14,641,146  

City of Los Angeles California Department of Airports, RB, AMT:

    

Los Angeles International Airport, Series B,
5.00%, 05/15/41

     3,645       3,910,676  

Senior Revenue, Series A, 5.00%, 05/15/40

     5,500       6,075,355  
   

 

 

  
      48,910,967  
Utilities — 12.3%  

Anaheim Public Financing Authority, Refunding RB, Anaheim Convention Center Expansion Project, Series A:

    

5.00%, 05/01/39

     6,000       6,427,500  

5.00%, 05/01/46

     13,500       14,063,760  

Beaumont Public Improvement Authority, RB, Series A (AGM), 5.00%, 09/01/49

     6,000       7,079,880  
Security   Par
(000)		     Value  
Utilities (continued)  

City of Los Angeles California Wastewater System Revenue, RB, Green Bonds, Series A, 5.00%, 06/01/44

   $ 6,290     $ 7,145,880  

City of Sacramento California Water Revenue, RB, 5.25%, 09/01/47

     14,825       17,469,629  

Los Angeles Department of Water, Refunding RB, Series A, 5.00%, 07/01/46

     8,413       9,534,939  
   

 

 

  
      61,721,588  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 80.1%
(Cost — $389,725,587)

 

     402,729,496  
   

 

 

  

Total Long-Term Investments — 170.5%
(Cost — $834,373,916)

 

     857,138,160  
   

 

 

  
     Shares         

Short-Term Securities — 0.0%

 

BlackRock Liquidity Funds California Money Fund, Institutional Class, 0.02%(f)(g)

     77,760       77,760  
   

 

 

  

Total Short-Term Securities — 0.0%
(Cost — $77,760)

 

     77,760  
   

 

 

  

Total Investments — 170.5%
(Cost — $834,451,676)

 

     857,215,920  

Other Assets Less Liabilities — 2.4%

 

     11,708,783  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (39.8)%

 

     (199,927,346 ) 

VRDP Shares, at Liquidation Value, Net of Deferred Offering Costs — (33.1)%

 

     (166,210,699 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 502,786,658  
   

 

 

  
 
(a) 

Zero-coupon bond.

(b) 

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.

(c) 

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.

(d) 

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.

(e) 

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 April 1, 2025 to March 1, 2028 is $29,423,078.

(f) 

Annualized 7-day yield as of period end.

 

 

6   

Schedule of Investments  (unaudited) (continued)

April 30, 2020

   

BlackRock MuniYield California Quality Fund, Inc. (MCA)

 

(g) 

Investments in issuers considered to be an affiliate/affiliates of the Fund during the period ended April 30, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer   Shares
Held at
07/31/19		     Shares
Purchased		    

Shares

Sold

     Shares
Held at
04/30/20		     Value at
04/30/20		    
Income		     Net Realized
Gain (Loss) (a)		     Change in
Unrealized
Appreciation
(Depreciation)		  

BlackRock Liquidity Funds California Money Fund, Institutional Class

     12,443,051       —       (12,365,291 )(b)      77,760     $ 77,760     $ 27,724     $ 1,786     $ —  
         

 

 

    

 

 

    

 

 

    

 

 

  

 

  (a) 

Includes net capital gain distributions, if applicable.

 
  (b) 

Represents net shares purchased (sold).

 

For Fund compliance purposes, the Fund’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

Portfolio Abbreviations

AGM — Assured Guaranty Municipal Corp.

AMT — Alternative Minimum Tax (subject to)

ARB — Airport Revenue Bonds

BAM — Build America Mutual Assurance Co.

CAB — Capital Appreciation Bonds

COP — Certificates of Participation

GO — General Obligation Bonds

LRB — Lease Revenue Bonds

M/F — Multi-Family

RB — Revenue Bonds

S/F — Single-Family

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access

 

  •  

Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

  •  

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments and derivative financial instruments)

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

 

 

     7  

Schedule of Investments  (unaudited) (continued)

April 30, 2020

   

BlackRock MuniYield California Quality Fund, Inc. (MCA)

 

Fair Value Hierarchy as of Period End (continued)

The following tables summarizes the Fund’s investments categorized in the disclosure hierarchy:

 

      Level 1        Level 2        Level 3        Total  

Assets:

            

Investments:

            

Long-Term Investments(a)

   $ —        $ 857,138,160        $ —        $ 857,138,160  

Short-Term Securities

     77,760          —          —          77,760  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 77,760        $ 857,138,160        $ —        $ 857,215,920  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

See above Schedule of Investments for values in sector, security type, state or political subdivision

 

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

   $ —        $ (199,050,164 )       $ —        $ (199,050,164 ) 

VRDP Shares at Liquidation Value

     —          (166,500,000 )         —          (166,500,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ —        $ (365,550,164 )       $ —        $ (365,550,164 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

 

8