| Schedule of Investments (unaudited) July 31, 2020 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| 1 |
| Schedule of Investments (unaudited) (continued) July 31, 2020 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| 2 |
| Schedule of Investments (unaudited) (continued) July 31, 2020 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| 3 |
| Schedule of Investments (unaudited) (continued) July 31, 2020 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| 4 |
| Schedule of Investments (unaudited) (continued) July 31, 2020 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| 5 |
| Schedule of Investments (unaudited) (continued) July 31, 2020 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Affiliates
Investments in issuers considered to be an affiliate/affiliates of the Fund during the period ended July 31, 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 04/30/20 |
Shares Purchased |
Shares Sold |
Shares Held at 07/31/20 |
Value at 07/31/20 |
Income | Net Realized Gain (Loss) (a) |
Change in Unrealized Appreciation (Depreciation) |
||||||||||||||||||||||||
| BlackRock Liquidity Funds, MuniCash, Institutional Class |
5,633,321 | — | (3,791,775 | )(b) | 1,841,546 | $ | 1,841,914 | $ | 189 | $ | 2,228 | $ | (1,595 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
| (a) | Includes net capital gain distributions, if applicable. |
| (b) | Represents net shares purchased (sold). |
| 6 |
| Schedule of Investments (unaudited) (continued) July 31, 2020 |
BlackRock MuniVest Fund II, Inc. (MVT) |
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) |
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 its most recent financial statements.
The following table summarizes the Fund’s investments categorized in the disclosure hierarchy. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets |
||||||||||||||||
| Investments |
||||||||||||||||
| Long-Term Investments |
||||||||||||||||
| Municipal Bonds |
$ | — | $ | 419,285,394 | $ | — | $ | 419,285,394 | ||||||||
| Municipal Bonds Transferred to Tender Option Bond Trusts |
— | 98,758,183 | — | 98,758,183 | ||||||||||||
| Short-Term Securities |
||||||||||||||||
| Money Market Funds |
1,841,914 | — | — | 1,841,914 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 1,841,914 | $ | 518,043,577 | $ | — | $ | 519,885,491 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
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 |
$ | — | $ | (57,070,953 | ) | $ | — | $ | (57,070,953 | ) | ||||||
| VMTP Shares at Liquidation Value |
— | (140,000,000 | ) | — | (140,000,000 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | — | $ | (197,070,953 | ) | $ | — | $ | (197,070,953 | ) | |||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 7 |