N-Q 1 d592665dnq.htm BLACKROCK MUNIVEST FUND II, INC. BlackRock MuniVest Fund II, Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-07478

Name of Fund:  BlackRock MuniVest Fund II, Inc. (MVT)

Fund Address:  100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service:  John M. Perlowski, Chief Executive Officer, BlackRock MuniVest Fund II, Inc., 55 East 52nd Street, New York, NY 10055

Registrant’s telephone number, including area code:  (800) 882-0052, Option 4

Date of fiscal year end: 04/30/2014

Date of reporting period: 07/31/2013

Item 1 – Schedule of Investments

Schedule of Investments July 31, 2013 (Unaudited)

   

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

Alabama — 0.5%

     

County of Jefferson Alabama, RB, Limited Obligation School, Series A, 5.25%, 1/01/19

    $ 1,490      $ 1,484,666   

Alaska — 1.0%

  

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

     

4.63%, 6/01/23

      1,570        1,423,221   

5.00%, 6/01/46

      2,250        1,638,405   
    

 

 

  
               3,061,626   

Arizona — 1.1%

     

Maricopa County IDA Arizona, RB, Arizona Charter Schools Project, Series A, 6.75%, 7/01/29

      900        754,263   

Pima County IDA, RB, Arizona Charter Schools Project, Series C, 6.75%, 7/01/31

      45        44,286   

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

      2,500        2,391,325   
    

 

 

  
               3,189,874   

California — 12.8%

     

California Health Facilities Financing Authority, RB:

     

St. Joseph Health System, Series A, 5.75%, 7/01/39

      2,200        2,421,100   

Stanford Hospital Clinics, Series A, 5.00%,8/15/51

      1,180        1,126,015   

Sutter Health, Series B, 6.00%, 8/15/42

      3,170        3,558,071   

California Health Facilities Financing Authority, Refunding RB, St. Joseph Health System, Series A, 5.00%, 7/01/33

      1,265        1,266,910   

California Pollution Control Financing Authority, RB:

     

Poseidon Resources (Channel Side) LP Desalination, AMT, 5.00%, 7/01/37 (a)

      1,025        881,726   

Poseidon Resources (Channel Side) LP Desalination, AMT, 5.00%, 11/21/45 (a)

      2,560        2,130,125   

San Diego County Water Authority Desalination Project Pipeline, 5.00%, 11/21/45

      1,230        1,123,654   

California State Public Works Board, RB, Various Capital Projects, Sub-Series I-1, 6.38%, 11/01/34

      1,185        1,378,771   
Municipal Bonds   

Par  

(000)

     Value  

California (concluded)

     

City of Los Angeles Department of Airports, Refunding RB, International Airport, Series A, 5.25%, 5/15/39

    $ 800      $ 845,528   

San Diego Community College District, GO, Election of 2006, 5.00%, 8/01/43

      1,085        1,126,534   

San Marcos Unified School District, GO, CAB, Election of 2010, Series B (b):

     

5.69%, 8/01/41

      5,000        1,039,250   

5.68%, 8/01/42

      2,000        394,120   

State of California, GO, Various Purpose:

     

6.00%, 3/01/33

      2,525        2,880,470   

6.50%, 4/01/33

      14,925        17,466,727   

Tobacco Securitization Authority of Southern California, Refunding RB, Tobacco Settlement Revenue, Asset-Backed, Senior Series A-1, 4.75%, 6/01/25

      1,075        1,032,570   
    

 

 

  
               38,671,571   

Colorado — 2.6%

  

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

      1,060        1,202,114   

Colorado Health Facilities Authority, Refunding RB, Evangelical Lutheran Good Samaritan Society Project, 5.00%, 12/01/42

      1,000        939,970   

Colorado State Board of Governors, Refunding RB, State University Enterprise System, Series A, 5.00%, 3/01/43

      1,180        1,207,600   

Plaza Metropolitan District No. 1 Colorado, Tax Allocation Bonds, Public Improvement Fee, Tax Increment, 8.00%, 6/01/14 (c)

      3,300        3,544,233   

University of Colorado, RB, Series A, 5.75%, 6/01/28

      750        870,908   
    

 

 

  
               7,764,825   

Connecticut — 1.9%

  

Connecticut State Health & Educational Facility Authority, RB, Ascension Health Senior Credit, 5.00%, 11/15/40

      1,375        1,385,959   

 

                
   BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013    1

Schedule of Investments (continued)

   

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

Connecticut (concluded)

     

Connecticut State Health & Educational Facility Authority, Refunding RB, Wesleyan University, 5.00%, 7/01/35

    $ 3,385      $ 3,510,990   

Mohegan Tribe of Indians of Connecticut, Refunding RB, Public Improvement, Priority Distribution, 6.25%, 1/01/31

      950        950,085   
    

 

 

  
               5,847,034   

Delaware — 1.7%

  

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

      1,125        1,160,629   

Delaware State EDA, RB, Exempt Facilities, Indian River Power, 5.38%, 10/01/45

      4,065        3,893,985   
    

 

 

  
               5,054,614   

District of Columbia — 2.3%

  

District of Columbia, Refunding RB, Kipp Charter School, 6.00%, 7/01/43 (d)

      240        245,474   

Metropolitan Washington Airports Authority, Refunding RB:

     

CAB, Second Senior Lien, Series B (AGC), 5.84%, 10/01/33 (b)

      6,590        2,064,318   

CAB, Second Senior Lien, Series B (AGC), 5.88%, 10/01/34 (b)

      4,830        1,416,736   

CAB, Second Senior Lien, Series B (AGC), 5.95%, 10/01/35 (b)

      6,515        1,776,901   

First Senior Lien, Series A, 5.25%, 10/01/44

      1,500        1,531,545   
    

 

 

  
               7,034,974   

Florida — 5.1%

  

County of Miami-Dade Florida, Refunding ARB, Miami International Airport, Series A-1, 5.38%, 10/01/41

      1,165        1,191,306   

Fiddlers Creek Community Development District No. 2, Special Assessment Bonds, Series A, 6.38%, 5/01/35 (e)(f)

      2,350        1,222,846   

Hillsborough County IDA, RB, National Gypsum Co., Series B, AMT, 7.13%, 4/01/30

      2,720        2,719,837   

Mid-Bay Bridge Authority, RB, Series A, 7.25%, 10/01/40

      2,265        2,631,092   
Municipal Bonds   

Par  

(000)

     Value  

Florida (concluded)

     

Midtown Miami Community Development District, Special Assessment Bonds, Series A, 6.25%, 5/01/37

    $ 915      $ 922,420   

Palm Coast Park Community Development District, Special Assessment Bonds, 5.70%, 5/01/37

      1,155        722,857   

Tampa-Hillsborough County Expressway Authority, Refunding RB:

     

Series A, 5.00%, 7/01/37

      1,370        1,372,877   

Series B, 5.00%, 7/01/42

      2,510        2,511,682   

Village Community Development District No. 10, Special Assessment Bonds, 5.13%, 5/01/43

      2,480        2,266,695   
    

 

 

  
               15,561,612   

Georgia — 3.9%

  

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

      130        132,076   

Fulton County Residential Care Facilities for the Elderly Authority, Refunding RB, Canterbury Court Project, Series A, 6.13%, 2/15/26

      2,000        2,009,700   

Metropolitan Atlanta Rapid Transit Authority, RB, Sales Tax Revenue, Third Indenture, Series A, 5.00%, 7/01/39

      3,465        3,551,417   

Municipal Electric Authority of Georgia, RB, Series W:

     

6.60%, 1/01/18 (g)

      205        210,127   

6.60%, 1/01/18

      4,370        4,786,417   

Municipal Electric Authority of Georgia, Refunding RB, Series X, 6.50%, 1/01/20

      990        1,137,263   
    

 

 

  
               11,827,000   

Hawaii — 0.5%

  

State of Hawaii Harbor System, RB, Series A, 5.25%, 7/01/30

      1,355        1,438,752   

Illinois — 17.8%

  

Chicago Illinois Board of Education, GO, Unlimited Tax, Series A, 5.50%, 12/01/39

      2,110        2,176,676   

Chicago Illinois Transit Authority, RB, Sales Tax Receipts Revenue, 5.25%, 12/01/40

      1,050        1,069,782   

 

                
2    BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013   

Schedule of Investments (continued)

   

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

Illinois (continued)

     

City of Chicago Illinois, GARB, O’Hare International Airport, Third Lien, Series C, 6.50%, 1/01/41

    $ 5,865      $ 6,904,689   

City of Chicago Illinois, GO, Project, Series A, 5.00%, 1/01/34

      4,535        4,415,956   

City of Chicago Illinois, Refunding RB:

     

Sales Tax Revenue, Series A, 5.25%, 1/01/38

      820        854,489   

Second Lien, Water Project, 5.00%, 11/01/42

      2,865        2,821,481   

City of Chicago Illinois, Special Assessment Bonds, Lake Shore East, 6.75%, 12/01/32

      800        818,840   

Illinois Finance Authority, RB:

     

Advocate Health Care Network, Series D, 6.50%, 11/01/38

      5,000        5,715,500   

Community Rehabilitation Providers Facilities, Series A, 6.50%, 7/01/22

      285        274,914   

Illinois Finance Authority, Refunding RB:

     

Ascension Health, Series A, 5.00%, 11/15/37

      970        970,582   

Central Dupage Health, Series B, 5.50%, 11/01/39

      1,610        1,673,885   

Illinois State Toll Highway Authority, RB, Series A, 5.00%, 1/01/38

      2,315        2,342,641   

Metropolitan Pier & Exposition Authority, Refunding RB, McCormick Place Expansion Project:

     

Series B (AGM), 5.00%, 6/15/50

      3,150        3,115,539   

Series B-2, 5.00%, 6/15/50

      2,500        2,438,200   

Railsplitter Tobacco Settlement Authority, RB:

     

5.50%, 6/01/23

      440        489,122   

6.00%, 6/01/28

      1,140        1,243,900   

Regional Transportation Authority, RB:

     

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

      1,175        1,381,494   

Series A (NPFGC), 6.70%, 11/01/21

      6,450        7,516,249   

Series C (NPFGC), 7.75%, 6/01/20

      2,500        3,039,200   

State of Illinois, RB, Build Illinois, Series B, 5.25%, 6/15/34

      630        658,577   
Municipal Bonds   

Par  

(000)

     Value  

Illinois (concluded)

     

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

    $ 2,800      $ 2,801,820   

Village of Wheeling Illinois, Tax Allocation Bonds, North Milwaukee/Lake-Cook TIF Project, 6.00%, 1/01/25

      1,350        1,277,383   
    

 

 

  
               54,000,919   

Indiana — 4.4%

  

Carmel Redevelopment Authority, Refunding RB, Multipurpose, Series A:

     

4.00%, 8/01/35

      1,130        1,016,525   

4.00%, 2/01/38

      1,810        1,600,312   

Indiana Finance Authority, RB:

     

First Lien, CWA Authority Project, Series A, 5.25%, 10/01/38

      1,580        1,619,942   

Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series A, AMT, 5.00%, 7/01/48

      1,430        1,263,348   

Private Activity, Ohio River Bridges East End Crossing Project, Series A, AMT, 5.00%, 7/01/44

      450        402,647   

Sisters of St. Francis Health, 5.25%, 11/01/39

      840        855,145   

Indiana Finance Authority, Refunding RB, Series A:

     

Community Health Network Project, 5.00%, 5/01/42

      1,885        1,799,195   

Parkview Health System, 5.75%, 5/01/31

      2,795        2,959,905   

Indianapolis Local Public Improvement Bond Bank, RB, Series A:

     

5.00%, 1/15/36

      395        402,746   

5.00%, 1/15/40

      1,270        1,282,357   
    

 

 

  
               13,202,122   

Iowa — 1.8%

  

Iowa Finance Authority, Refunding RB, Iowa Fertilizer Co. Project:

     

5.00%, 12/01/19

      960        938,554   

5.50%, 12/01/22

      2,340        2,311,265   

5.25%, 12/01/25

      460        435,178   

 

                
   BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013    3

Schedule of Investments (continued)

   

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

Iowa (concluded)

     

Iowa Student Loan Liquidity Corp., Refunding RB, Senior Series A-1, AMT, 5.15%, 12/01/22

    $ 1,735      $ 1,890,942   
    

 

 

  
               5,575,939   

Kentucky — 0.3%

  

Kentucky Economic Development Finance Authority, RB, Owensboro Medical Health System, Series A, 6.38%, 6/01/40

      1,010        1,068,509   

Louisiana — 3.9%

  

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

      3,320        3,503,762   

Sabine River Authority Louisiana, Refunding RB, International Paper Co. Project, 6.20%, 2/01/25

      3,600        3,605,184   

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

     

5.50%, 5/15/30

      1,020        1,054,303   

5.25%, 5/15/31

      870        872,131   

5.25%, 5/15/32

      1,110        1,110,677   

5.25%, 5/15/33

      1,205        1,199,035   

5.25%, 5/15/35

      505        494,688   
    

 

 

  
               11,839,780   

Maine — 0.3%

  

Maine Turnpike Authority, RB, Series A, 5.00%, 7/01/42

      885        911,930   

Maryland — 3.0%

  

County of Montgomery Maryland, GO, West Germantown Development District, Series A (Radian), 6.70%, 7/01/27

      1,100        1,111,572   

Maryland Community Development Administration, Refunding RB, Residential, Series D, AMT, 4.90%, 9/01/42

      1,500        1,497,630   

Maryland EDC, RB, Transportation Facilities Project, Series A, 5.75%, 6/01/35

      435        465,202   

Maryland EDC, Refunding RB, CNX Marine Terminals, Inc., 5.75%, 9/01/25

      830        865,955   
Municipal Bonds   

Par  

(000)

     Value  

Maryland (concluded)

     

Maryland Health & Higher Educational Facilities Authority, RB, Series B:

     

Ascension Health Alliance, 5.00%, 11/15/51

    $ 4,175      $ 4,174,666   

University of Maryland Medical System (NPFGC), 7.00%, 7/01/22

      890        1,047,904   
    

 

 

  
               9,162,929   

Massachusetts — 3.8%

  

Massachusetts Health & Educational Facilities Authority, Refunding RB, Partners Healthcare, Series J1, 5.00%, 7/01/39

      1,805        1,809,512   

Massachusetts HFA, RB, AMT:

     

S/F Housing, Series 130, 5.00%, 12/01/32

      2,720        2,743,066   

Series A, 5.20%, 12/01/37

      2,830        2,844,518   

Massachusetts HFA, Refunding RB, Series F, AMT, 5.70%, 6/01/40

      2,055        2,116,609   

Massachusetts School Building Authority, RB:

     

Dedicated Sales Tax Revenue, Senior Series A, 5.00%, 5/15/43

      1,420        1,475,621   

Series A (AGM), 5.00%, 8/15/30

      415        434,953   
    

 

 

  
               11,424,279   

Michigan — 7.9%

  

City of Detroit Michigan, Refunding RB, Sewage Disposal System Revenue, Senior Lien, Series B (AGM), 7.50%, 7/01/33

      910        977,267   

City of Detroit Michigan Sewage Disposal System, Refunding RB, Senior Lien, Series A:

     

5.00%, 7/01/32

      1,565        1,415,589   

5.25%, 7/01/39

      1,350        1,232,483   

City of Detroit Michigan Water Supply System, RB, Senior Lien, Series A, 5.25%, 7/01/41

      3,075        2,806,799   

Kalamazoo Hospital Finance Authority, Refunding RB, Bronson Methodist Hospital, 5.50%, 5/15/36

      1,380        1,407,255   

 

                
4    BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013   

Schedule of Investments (continued)

   

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

Michigan (concluded)

     

Michigan State Hospital Finance Authority, Refunding RB, Series A:

     

Henry Ford Health System, 5.25%, 11/15/46

    $ 5,080      $ 4,877,460   

McLaren Health Care, 5.75%, 5/15/38

      8,560        9,388,266   

Royal Oak Hospital Finance Authority, Refunding RB, William Beaumont Hospital, 8.25%, 9/01/39

      1,400        1,690,248   
    

 

 

  
               23,795,367   

Mississippi — 1.5%

  

County of Lowndes Mississippi, Refunding RB, Weyerhaeuser Co. Project, Series A, 6.80%, 4/01/22

      3,000        3,358,980   

University of Southern Mississippi, RB, Campus Facilities Improvements Project, 5.38%, 9/01/36

      1,065        1,115,225   
    

 

 

  
               4,474,205   

Missouri — 0.1%

  

Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Refunding RB, Combination Lien, Series A, 5.00%, 10/01/44 (d)

      255        262,158   

Nebraska — 0.7%

  

Central Plains Energy Project Nebraska, RB, Gas Project No. 3:

     

5.25%, 9/01/37

      825        826,138   

5.00%, 9/01/42

      1,445        1,385,134   
    

 

 

  
               2,211,272   

New Jersey — 4.9%

  

New Jersey EDA, RB, Continental Airlines, Inc. Project, AMT, 5.25%, 9/15/29

      1,955        1,833,497   

New Jersey EDA, Refunding, Special Assessment, Kapkowski Road Landfill Project, 5.75%, 4/01/31

      2,240        2,242,262   

New Jersey Housing & Mortgage Finance Agency, RB, S/F Housing, Series AA, 6.38%, 10/01/28

      825        890,150   
Municipal Bonds   

Par  

(000)

     Value  

New Jersey (concluded)

     

New Jersey State Turnpike Authority, RB, Series A:

     

5.00%, 1/01/38

    $ 1,295      $ 1,321,094   

5.00%, 1/01/43

      1,985        2,016,323   

New Jersey Transportation Trust Fund Authority, RB:

     

Series A, 5.50%, 6/15/41

      1,635        1,719,039   

Series B, 5.25%, 6/15/36

      2,460        2,554,587   

Rutgers The State University of New Jersey, Refunding RB, Series L:

     

5.00%, 5/01/43

      525        540,897   

5.00%, 5/01/38

      505        524,311   

Tobacco Settlement Financing Corp. New Jersey, Refunding RB, Series 1A, 4.50%, 6/01/23

      1,335        1,241,270   
    

 

 

  
               14,883,430   

New York — 8.6%

  

Metropolitan Transportation Authority, RB, Series C, 6.50%, 11/15/28

      9,405        11,033,382   

Metropolitan Transportation Authority, Refunding RB, Series D, 5.25%, 11/15/40

      1,205        1,229,763   

New York City Industrial Development Agency, RB:

     

British Airways PLC Project, AMT, 7.63%, 12/01/32

      1,920        1,933,786   

Lycee Francais de New York Project, Series C, 6.80%, 6/01/28

      690        698,121   

Special Needs Facilities Pooled Program, Series C-1, 6.50%, 7/01/17

      595        591,638   

New York City Transitional Finance Authority, RB, Future Tax Secured, Sub-Series E-1, 5.00%, 2/01/42

      2,460        2,537,318   

New York Liberty Development Corp., Refunding RB, Second Priority, Bank of America Tower at One Bryant Park Project, 6.38%, 7/15/49

      1,220        1,326,262   

New York State Dormitory Authority, RB, Series F, 5.00%, 3/15/35

      3,035        3,111,816   

 

                
   BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013    5

Schedule of Investments (continued)

   

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (concluded)

     

Port Authority of New York & New Jersey, RB, Special Project, JFK International Air Terminal LLC Project, Series 8:

     

6.00%, 12/01/36

    $ 1,165      $ 1,292,218   

AMT (NPFGC), 6.00%, 12/01/42

      1,250        1,382,363   

Westchester County Industrial Development Agency, RB, Special Needs Facilities Pooled Program, Series E-1, 6.50%, 7/01/17

      850        845,486   
    

 

 

  
               25,982,153   

North Carolina — 1.6%

  

Gaston County Industrial Facilities & Pollution Control Financing Authority, RB, Exempt Facilities, National Gypsum Co. Project, AMT, 5.75%, 8/01/35

      1,675        1,446,764   

North Carolina Medical Care Commission, RB, Duke University Health System, Series A, 5.00%, 6/01/42

      1,400        1,412,586   

North Carolina Medical Care Commission, Refunding RB, Carolina Village Project, 6.00%, 4/01/38

      2,000        2,007,060   
    

 

 

  
               4,866,410   

Oregon — 0.1%

  

City of Tigard Washington County Oregon, Refunding RB, Water System, 5.00%, 8/01/37

      250        260,295   

Pennsylvania — 1.5%

  

Bucks County IDA, RB, Ann’s Choice, Inc. Facility, Series A, 6.13%, 1/01/25

      880        891,942   

Montgomery County IDA Pennsylvania, MRB, Whitemarsh Continuing Care, 6.13%, 2/01/28

      420        416,619   

Pennsylvania Economic Development Financing Authority, RB, Aqua Pennsylvania, Inc. Project, Series B, 5.00%, 11/15/40

      1,890        1,894,914   
               4,469,373   
Municipal Bonds   

Par  

(000)

     Value  

Pennsylvania (concluded)

     

Philadelphia Authority for Industrial Development, RB, Commercial Development, AMT, 7.75%, 12/01/17

    $ 1,265      $ 1,265,898   
    

 

 

  

Puerto Rico — 2.1%

  

Puerto Rico Sales Tax Financing Corp., Refunding RB, CAB (b):

     

Series A (NPFGC), 6.60%, 8/01/41

      8,580        1,391,676   

Series A (NPFGC), 6.72%, 8/01/46

      13,400        1,512,056   

Series C, 6.54%, 8/01/39

      18,670        3,503,425   
    

 

 

  
               6,407,157   

South Carolina — 1.1%

  

South Carolina State Ports Authority, RB, 5.25%, 7/01/40

      3,280        3,377,547   

South Dakota — 0.3%

  

South Dakota Health & Educational Facilities Authority, RB, Sanford, Series E, 5.00%, 11/01/42

      1,070        1,045,797   

Tennessee — 0.1%

  

Rutherford County Health & Educational Facilities Board, RB, Ascension Health, Series C, 5.00%, 11/15/47

      210        213,692   

Texas — 11.6%

  

Brazos River Authority, Refunding RB, Texas Utility Co., Series A, AMT, 7.70%, 4/01/33

      1,500        97,440   

Central Texas Regional Mobility Authority, Refunding RB:

     

Senior Lien, 6.25%, 1/01/46

      2,140        2,294,380   

Senior Lien, Series A, 5.00%, 1/01/33

      100        97,688   

Sub-Lien, 5.00%, 1/01/33

      355        332,354   

Sub-Lien, 5.00%, 1/01/42

      315        286,600   

City of Dallas Texas Waterworks & Sewer System, Refunding RB, 5.00%, 10/01/35

      510        532,108   

City of Houston Texas Airport System, RB, Special Facilities, Continental Airlines, Inc., Series E, AMT, 6.75%, 7/01/21

      4,820        4,821,639   

City of San Antonio Texas, RB, Electric & Gas Systems, Junior Lien, 5.00%, 2/01/43

      2,515        2,585,873   

 

                
6    BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013   

Schedule of Investments (continued)

   

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

Texas (concluded)

     

Dallas/Fort Worth International Airport, Refunding RB, Series E, AMT, 5.00%, 11/01/35

    $ 1,800      $ 1,722,978   

Fort Bend County Industrial Development Corp., RB, NRG Energy, Inc. Project, Series B, 4.75%, 11/01/42

      1,475        1,274,665   

Harris County Health Facilities Development Corp., Refunding RB, Memorial Hermann Healthcare System, Series B, 7.25%, 12/01/18 (c)

      2,000        2,597,480   

Matagorda County Navigation District No 1, Refunding RB, AEP Texas Central Co. Project, Series 1, 4.00%, 6/01/30

      1,080        965,952   

North Texas Tollway Authority, Refunding RB, First Tier, Series A, 6.25%, 1/01/39

      7,000        7,591,500   

Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, Scott & White Healthcare Project, Series A, 5.00%, 8/15/43

      360        351,245   

Texas Municipal Gas Acquisition & Supply Corp. III, RB, Gas Supply, 5.00%, 12/15/29

      1,000        972,700   

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

     

LBJ Infrastructure Group LLC, LBJ Freeway Managed Lanes Project, 7.00%, 6/30/40

      3,000        3,407,070   

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

      3,000        3,361,230   

University of Texas System, Refunding RB, Financing System, Series B, 5.00%, 8/15/43

      1,830        1,922,269   
    

 

 

  
               35,215,171   

Utah — 0.9%

  

County of Utah, RB, IHC Health Services, Inc., 5.00%, 5/15/43

      2,010        2,058,039   

University of Utah, RB, General, Series A, 5.00%, 8/01/43

      635        657,238   
    

 

 

  
               2,715,277   
Municipal Bonds   

Par  

(000)

     Value  

Virginia — 2.8%

     

Fairfax County EDA, Refunding RB, Goodwin House, Inc.:

     

5.13%, 10/01/37

    $ 500      $ 498,245   

5.13%, 10/01/42

      3,440        3,426,825   

Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings OPCO LLC Project, AMT:

     

5.25%, 1/01/32

      1,615        1,520,426   

6.00%, 1/01/37

      2,915        2,936,833   
    

 

 

  
               8,382,329   

Washington — 1.7%

  

Washington Health Care Facilities Authority, Refunding RB:

     

Catholic Health Initiatives, Series D, 6.38%, 10/01/36

      3,700        4,217,815   

Providence Health & Services, Series A, 5.00%, 10/01/42

      1,015        996,588   
    

 

 

  
               5,214,403   

Wisconsin — 4.6%

  

State of Wisconsin, Refunding RB, Series A, 6.00%, 5/01/36

      7,100        8,077,599   

Wisconsin Health & Educational Facilities Authority, RB, Ascension Health Senior Credit Group, 5.00%, 11/15/33

      2,465        2,504,686   

WPPI Energy, Refunding RB, Power Supply System, Series A:

     

5.00%, 7/01/29

      375        391,684   

5.00%, 7/01/30

      475        493,041   

5.00%, 7/01/31

      1,035        1,069,300   

5.00%, 7/01/37

      1,260        1,265,821   
    

 

 

  
               13,802,131   
Total Municipal Bonds — 120.8%        365,701,122   
    
                  
Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts (h)		         

Arizona — 0.8%

  

Salt River Project Agricultural Improvement & Power District, RB, Series A, 5.00%, 1/01/38

      2,450        2,516,166   

California — 8.4%

  

Bay Area Toll Authority, Refunding RB, San Francisco Bay Area, Series F-1, 5.63%, 4/01/44

      3,271        3,510,012   

 

                
   BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013    7

Schedule of Investments (continued)

   

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts (h)		    Par  
(000)		     Value  

California (concluded)

  

California Educational Facilities Authority, RB, University of Southern California, Series B, 5.25%, 10/01/39 (i)

    $ 2,610      $ 2,787,845   

City of Los Angeles California Department of Airports, Refunding RB, Los Angeles International Airport, Senior Series A, 5.00%, 5/15/40

      5,940        6,028,313   

Los Angeles Community College District California, GO, Election of 2001, Series A (AGM), 5.00%, 8/01/32

      2,290        2,384,508   

San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/33

      1,077        1,191,677   

San Francisco City & County Public Utilities Commission, RB, Series B, 5.00%, 11/01/39

      9,480        9,646,658   
    

 

 

  
               25,549,013   

Colorado — 0.8%

  

Colorado Health Facilities Authority, Refunding RB, Catholic Health Initiatives, Series A, 5.50%, 7/01/34 (i)

      2,129        2,295,404   

Connecticut — 2.1%

  

Connecticut State Health & Educational Facility Authority, RB, Yale University, Series Z-3, 5.05%, 7/01/42

      6,000        6,310,380   

Florida — 1.9%

  

Miami-Dade County Florida, RB, Water & Sewer System, 5.00%, 10/01/34

      5,679        5,851,173   

Illinois — 1.5%

  

City of Chicago Illinois Refunding RB, Water System, Second Lien (AGM), 5.25%, 11/01/33

      1,320        1,346,756   

Illinois State Toll Highway Authority, RB, Series B, 5.50%, 1/01/33

      2,999        3,231,019   
    

 

 

  
               4,577,775   

Maryland — 0.8%

  

Maryland State Transportation Authority, RB, Transportation Facility Project (AGM), 5.00%, 7/01/41

      2,290        2,321,052   
Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts (h)		    Par  
(000)		     Value  

Massachusetts — 1.6%

  

Massachusetts School Building Authority, RB, Dedicated Sales Tax Revenue, Senior Series B, 5.00%, 10/15/41

    $ 4,530      $ 4,689,954   

New Hampshire — 0.7%

  

New Hampshire Health & Education Facilities Authority, RB, Dartmouth College, 5.25%, 6/01/39 (i)

      2,009        2,157,474   

New York — 11.6%

  

Hudson New York Yards Infrastructure Corp., RB, Fiscal 2012, Senior Series A, 5.75%, 2/15/47 (i)

      1,610        1,709,201   

New York City Municipal Water Finance Authority, Refunding RB:

     

Series FF-2, 5.50%, 6/15/40

      1,575        1,714,801   

Water & Sewer System, Series DD, 5.00%, 6/15/37

      6,299        6,499,115   

New York City Transitional Finance Authority, RB, Fiscal 2009, Series S-3, 5.25%, 1/15/39

      6,700        6,973,427   

New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Construction, 5.25%, 12/15/43

      10,740        11,159,121   

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

      6,440        6,972,781   
    

 

 

  
               35,028,446   

North Carolina — 2.1%

  

North Carolina Capital Facilities Finance Agency, Refunding RB, Duke University Project, Series A, 5.00%, 10/01/41

      6,239        6,314,428   

Ohio — 5.7%

  

Ohio Higher Educational Facility Commission, Refunding RB, Hospital, Cleveland Clinic Health, Series A, 5.25%, 1/01/33

      2,400        2,450,088   

State of Ohio, Refunding RB, Cleveland Clinic Health System Obligated Group, Series A, 5.50%, 1/01/39

      13,843        14,894,488   
    

 

 

  
               17,344,576   

 

                
8    BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013   

Schedule of Investments (continued)

   

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts (h)		    Par  
(000)		     Value  

South Carolina — 1.8%

  

South Carolina State Public Service Authority, Refunding RB, Santee Cooper, Series A, 5.50%, 1/01/38 (i)

    $ 4,995      $ 5,359,385   

Texas — 3.0%

  

Harris County Texas Metropolitan Transit Authority, Refunding RB, Sales & Tax Bonds, Series A, 5.00%, 11/01/41

      3,400        3,459,534   

Texas Department of Housing & Community Affairs, MRB, Series B, AMT (Ginnie Mae), 5.25%, 9/01/32

      2,661        2,708,601   

Texas State University Systems, Refunding RB, (AGM), 5.00%, 3/15/30

      2,743        2,904,939   
    

 

 

  
               9,073,074   

Utah — 0.9%

  

City of Riverton Utah Hospital, RB, IHC Health Services, Inc., 5.00%, 8/15/41

      2,774        2,774,269   

Washington — 5.7%

  

Central Puget Sound Regional Transit Authority, RB, Series A:

     

5.00%, 11/01/34

      5,000        5,194,325   

5.00%, 11/01/36

      4,000        4,155,460   

(AGM), 5.00%, 11/01/32

      7,693        8,023,028   
    

 

 

  
               17,372,813   
Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts (h)		   

Par  

(000)

     Value  

Wisconsin — 0.8%

  

Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert & Community Health, Inc., 5.25%, 4/01/39 (i)

    $ 2,499      $ 2,553,259   
Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts — 50.2%              152,088,641   

Total Long-Term Investments

(Cost — $503,245,441) — 171.0%

              517,789,763   
    
                  
Short-Term Securities    Shares         

FFI Institutional Tax-Exempt Fund, 0.03% (j)(k)

      7,194,476        7,194,476   

Total Short-Term Securities

(Cost — $7,194,476) — 2.4%

  

  

     7,194,476   
Total Investments (Cost — $510,439,917*) — 173.4%        524,984,239   

Liabilities in Excess of Other Assets — (0.1%)

  

     (244,410 ) 

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (27.1%)

   

     (81,916,658 ) 

VMTP Shares, at Liquidation Value — (46.2%)

  

     (140,000,000 ) 
    

 

 

  

Net Assets Applicable to Common Shares — 100.0%

  

   $ 302,823,171   
    

 

 

  
                  

 

*   As of July 31, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

   $ 428,858,425   
 

 

 

  

Gross unrealized appreciation

   $ 28,150,658   

Gross unrealized depreciation

     (13,920,589 ) 
 

 

 

  

Net unrealized appreciation

   $ 14,230,069   
 

 

 

  

 

Notes to Schedule of Investments

 

(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)   Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

(c)   US 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.

 

                
   BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013    9

Schedule of Investments (continued)

    BlackRock MuniVest Fund II, Inc. (MVT)

 

 

(d)   When-issued security. Unsettled when-issued transactions were as follows:

 

Counterparty   Value     Unrealized
Appreciation/(Depreciation)		  
Robert W. Baird Co   $ 245,474      $ 3,259   
RBC Capital Markets LLC   $ 262,158      $ (3,289 ) 

 

(e)   Non-income producing security.

 

(f)   Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.

 

(g)   Security is collateralized by municipal or US Treasury obligations.

 

(h)   Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

(i)   All or a portion of security is subject to a recourse agreement, which may require the Fund to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire from October 1, 2016 to November 15, 2019 is $13,379,029.

 

(j)   Investments in issuers considered to be an affiliate of the Fund during the period ended July 31, 2013, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate     

Shares Held

at April 30,
2013

        Net
Activity		        Shares Held
at July 31,
2013		        Income  

FFI Institutional Tax-Exempt Fund

        5,335,715           1,858,761           7,194,476         $ 607   

 

(k)   Represents the current yield as of report date.

 

Portfolio Abbreviations

 

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:      AGC    Assured Guarantee Corp.      
     AGM    Assured Guaranty Municipal Corp.      
     AMBAC    American Municipal Bond Assurance Corp.      
     AMT    Alternative Minimum Tax (subject to)      
     ARB    Airport Revenue Bonds      
     CAB    Capital Appreciation Bonds      
     EDA    Economic Development Authority      
     EDC    Economic Development Corp.      
     GARB    General Airport Revenue Bonds      
     Ginnie Mae    Government National Mortgage Association      
     GO    General Obligation Bonds      
     HFA    Housing Finance Agency      
     IDA    Industrial Development Authority      
     MRB    Mortgage Revenue Bonds      
     NPFGC    National Public Finance Guarantee Corp.      
     Radian    Radian Guaranty, Inc.      
     RB    Revenue Bonds      
     S/F    Single Family      

 

                
10    BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013   

Schedule of Investments (concluded)

    BlackRock MuniVest Fund II, Inc. (MVT)

 

 

Ÿ  

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

 

Ÿ  

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

 

Ÿ  

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)

 

Ÿ  

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments)

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.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment 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, please refer to the Fund’s most recent financial statements as contained in its annual report.

The following table summarizes the Fund’s investments categorized in the disclosure hierarchy as of July 31, 2013:

 

       Level 1        Level 2        Level 3      Total  
Assets:                 
Investments:                 

Long-Term Investments1

   $ —         $ 517,789,763         —      $ 517,789,763   

Short-Term Securities

     7,194,476           —         —        7,194,476   
 

 

 

  

Total

   $ 7,194,476         $ 517,789,763         —      $ 524,984,239   
 

 

 

  

 

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

     

          

 

Certain of the Fund’s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of July 31, 2013, such liabilities are categorized within the disclosure hierarchy as follows:

 

   

    

   Level 1        Level 2        Level 3      Total  

Liabilities:

                 

Bank overdraft

     —         $ (9,074 )       —      $ (9,074 ) 

TOB trust certificates

     —           (81,895,745 )       —        (81,895,745 ) 

VMTP Shares

     —           (140,000,000 )       —        (140,000,000 ) 
 

 

 

  
Total     —         $ (221,904,819 )       —      $ (221,904,819 ) 
 

 

 

  

There were no transfers between levels during the period ended July 31, 2013.

 

                
   BLACKROCK MUNIVEST FUND II, INC.    JULY 31, 2013    11

Item 2 – Controls and Procedures

 

2(a) – The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

 

2(b) – There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  BlackRock MuniVest Fund II, Inc.   
  By:   

/s/ John M. Perlowski

      
     John M. Perlowski   
     Chief Executive Officer (principal executive officer) of   
     BlackRock MuniVest Fund II, Inc.   
  Date:    September 24, 2013   

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

  By:   

/s/ John M. Perlowski

      
     John M. Perlowski   
     Chief Executive Officer (principal executive officer) of   
     BlackRock MuniVest Fund II, Inc.   
  Date:    September 24, 2013   
  By:   

/s/ Neal J. Andrews

      
     Neal J. Andrews   
     Chief Financial Officer (principal financial officer) of   
     BlackRock MuniVest Fund II, Inc.   
  Date:    September 24, 2013