| Schedule of Investments (unaudited) April 30, 2023 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
|
||||||||
| Municipal Bonds |
||||||||
| Alabama — 5.1% |
||||||||
| Black Belt Energy Gas District, RB(a) |
||||||||
| Series C-1, 5.25%, 02/01/53 |
$ | 7,145 | $ | 7,575,029 | ||||
| Series F, 5.50%, 11/01/53 |
405 | 429,609 | ||||||
| County of Jefferson Alabama Sewer Revenue, Refunding RB |
||||||||
| Series A, Senior Lien, (AGM), 5.00%, 10/01/44 |
805 | 818,473 | ||||||
| Series D, Sub Lien, 6.00%, 10/01/42 |
3,575 | 3,781,692 | ||||||
| Southeast Energy Authority A Cooperative District, RB, Series A-1, 5.50%, 01/01/53(a) |
685 | 739,373 | ||||||
|
|
|
|||||||
| 13,344,176 | ||||||||
| Arizona — 1.8% | ||||||||
| Glendale Industrial Development Authority, RB, 5.00%, 05/15/56 |
450 | 380,985 | ||||||
| Industrial Development Authority of the City of Phoenix Arizona, RB, Series A, 5.00%, 07/01/46(b) |
1,685 | 1,523,367 | ||||||
| Maricopa County Industrial Development Authority, RB, Series A, 4.00%, 01/01/44 |
2,825 | 2,716,424 | ||||||
|
|
|
|||||||
| 4,620,776 | ||||||||
| Arkansas — 0.8% | ||||||||
| Arkansas Development Finance Authority, RB, Series A, AMT, 4.75%, 09/01/49(b) |
2,305 | 2,118,212 | ||||||
|
|
|
|||||||
| California — 7.1% | ||||||||
| Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/47 |
3,055 | 3,038,066 | ||||||
| California Educational Facilities Authority, RB, Series U-7, 5.00%, 06/01/46 |
920 | 1,083,880 | ||||||
| California Health Facilities Financing Authority, Refunding RB |
||||||||
| Series A, 5.00%, 07/01/23(c) |
890 | 892,791 | ||||||
| Series A, 4.00%, 08/15/48 |
1,695 | 1,644,996 | ||||||
| California Municipal Finance Authority, ARB, AMT, Senior Lien, 4.00%, 12/31/47 |
1,475 | 1,285,604 | ||||||
| California Municipal Finance Authority, RB, S/F Housing |
||||||||
| Series A, 5.25%, 08/15/39 |
145 | 146,080 | ||||||
| Series A, 5.25%, 08/15/49 |
370 | 372,248 | ||||||
| California Pollution Control Financing Authority, RB, Series A, AMT, 5.00%, 11/21/45(b) |
1,495 | 1,494,892 | ||||||
| California State Public Works Board, RB, Series I, 5.00%, 11/01/38 |
775 | 783,375 | ||||||
| City of Los Angeles Department of Airports, ARB, Series A, AMT, 4.00%, 05/15/42 |
1,345 | 1,303,091 | ||||||
| City of Los Angeles Department of Airports, Refunding ARB |
||||||||
| AMT, Subordinate, 5.00%, 05/15/46 |
1,155 | 1,225,612 | ||||||
| Series D, AMT, Subordinate, 4.00%, 05/15/51 |
635 | 596,627 | ||||||
| Sacramento Area Flood Control Agency, Refunding SAB, 5.00%, 10/01/47 |
3,075 | 3,196,118 | ||||||
| San Marcos Unified School District, GO, CAB, Series B, Election 2010, 0.00%, 08/01/42(d) |
2,000 | 920,406 | ||||||
| Stockton Public Financing Authority, RB, Series A, 6.25%, 10/01/23(c) |
360 | 364,548 | ||||||
|
|
|
|||||||
| 18,348,334 | ||||||||
| Colorado — 2.6% | ||||||||
| Board of Governors of Colorado State University System, Refunding RB, Series C, 4.00%, 03/01/47 |
2,070 | 2,043,005 | ||||||
| City & County of Denver Colorado Airport System Revenue, Refunding ARB Series A, AMT, 5.50%, 11/15/53 |
1,745 | 1,904,928 | ||||||
| Security | Par (000) |
Value | ||||||
|
|
||||||||
| Colorado (continued) | ||||||||
| City & County of Denver Colorado Airport System Revenue, Refunding ARB (continued) Series D, AMT, 5.75%, 11/15/45 |
$ | 425 | $ | 479,862 | ||||
| Colorado Health Facilities Authority, RB |
||||||||
| 5.50%, 11/01/47 |
175 | 187,965 | ||||||
| 5.25%, 11/01/52 |
360 | 378,261 | ||||||
| Colorado Health Facilities Authority, Refunding RB |
||||||||
| Series A, 4.00%, 08/01/44 |
1,460 | 1,369,355 | ||||||
| Series A, 4.00%, 11/15/50 |
540 | 503,400 | ||||||
|
|
|
|||||||
| 6,866,776 | ||||||||
| Delaware — 1.2% | ||||||||
| Delaware River & Bay Authority, Refunding RB, 4.00%, 01/01/44 |
1,500 | 1,474,810 | ||||||
| Delaware State Health Facilities Authority, Refunding RB, 4.00%, 10/01/49 |
1,770 | 1,662,299 | ||||||
|
|
|
|||||||
| 3,137,109 | ||||||||
| District of Columbia — 7.1% | ||||||||
| District of Columbia, Refunding RB |
||||||||
| 5.00%, 10/01/48 |
2,315 | 2,365,395 | ||||||
| Series A, 6.00%, 07/01/23(c) |
240 | 241,078 | ||||||
| Metropolitan Washington Airports Authority Aviation Revenue, Refunding ARB, Series A, AMT, 4.00%, 10/01/39 |
380 | 376,129 | ||||||
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB |
||||||||
| Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/33(d) |
6,590 | 4,604,987 | ||||||
| Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/34(d) |
4,830 | 3,201,305 | ||||||
| Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/35(d) |
6,515 | 4,062,546 | ||||||
| Series B, Subordinate, 4.00%, 10/01/49 |
1,790 | 1,680,543 | ||||||
| Washington Metropolitan Area Transit Authority Dedicated Revenue, RB |
||||||||
| Series A, 4.00%, 07/15/46 |
1,205 | 1,191,774 | ||||||
| Series A, 4.13%, 07/15/47 |
575 | 571,331 | ||||||
|
|
|
|||||||
| 18,295,088 | ||||||||
| Florida — 6.7% | ||||||||
| Broward County Florida Water & Sewer Utility Revenue, RB, Series A, 4.00%, 10/01/45 |
210 | 207,110 | ||||||
| Celebration Pointe Community Development District No. 1, SAB |
||||||||
| 5.00%, 05/01/32 |
415 | 416,239 | ||||||
| 5.00%, 05/01/48 |
1,120 | 1,048,087 | ||||||
| Collier County Health Facilities Authority, RB, Series A, 5.00%, 05/01/48 |
1,190 | 1,198,056 | ||||||
| Collier County Health Facilities Authority, Refunding RB, Series A, 5.00%, 05/01/45 |
1,340 | 1,346,532 | ||||||
| County of Miami-Dade Seaport Department, Refunding RB, Series A, AMT, 5.25%, 10/01/52 |
480 | 510,438 | ||||||
| County of Pasco Florida, RB |
||||||||
| (AGM), 5.00%, 09/01/48 |
2,380 | 2,495,528 | ||||||
| (AGM), 5.75%, 09/01/54 |
425 | 469,331 | ||||||
| Florida Development Finance Corp., RB, Series A, 5.00%, 06/15/56 |
105 | 101,636 | ||||||
| Orange County Health Facilities Authority, RB, 4.00%, 10/01/52 |
1,495 | 1,380,338 | ||||||
| 1 |
|
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
|
||||||||
| Florida (continued) | ||||||||
| Palm Beach County Health Facilities Authority, RB, 5.00%, 11/15/45 |
$ | 3,150 | $ | 2,988,254 | ||||
| Tampa-Hillsborough County Expressway Authority, RB, 5.00%, 07/01/47 |
5,000 | 5,195,495 | ||||||
|
|
|
|||||||
| 17,357,044 | ||||||||
| Georgia — 6.2% | ||||||||
| Cobb County Kennestone Hospital Authority, RB, 4.00%, 04/01/52 |
1,145 | 1,046,009 | ||||||
| Development Authority for Fulton County, Refunding RB, 4.00%, 03/15/44 |
5,000 | 4,914,935 | ||||||
| Gainesville & Hall County Hospital Authority, RB, Series A, 4.00%, 02/15/51 |
530 | 487,524 | ||||||
| Georgia Ports Authority, ARB, 4.00%, 07/01/52 |
705 | 677,664 | ||||||
| Glynn-Brunswick Memorial Hospital Authority, RB, 5.00%, 08/01/47 |
2,500 | 2,478,823 | ||||||
| Main Street Natural Gas, Inc., RB |
||||||||
| Series A, 5.00%, 05/15/35 |
490 | 517,755 | ||||||
| Series A, 5.00%, 05/15/36 |
490 | 510,784 | ||||||
| Series A, 5.00%, 05/15/37 |
540 | 555,045 | ||||||
| Series A, 5.00%, 05/15/38 |
295 | 301,414 | ||||||
| Series A, 5.00%, 05/15/49 |
985 | 969,630 | ||||||
| Series A, 5.00%, 06/01/53(a) |
2,185 | 2,301,441 | ||||||
| Municipal Electric Authority of Georgia, RB, 4.00%, 01/01/49 |
1,560 | 1,374,904 | ||||||
|
|
|
|||||||
| 16,135,928 | ||||||||
| Idaho — 4.0% | ||||||||
| Idaho Health Facilities Authority, RB, Series 2017, 5.00%, 12/01/46 |
745 | 759,741 | ||||||
| Idaho Housing & Finance Association, RB, Series A, 4.00%, 08/15/48 |
10,000 | 9,709,170 | ||||||
|
|
|
|||||||
| 10,468,911 | ||||||||
| Illinois — 11.6% | ||||||||
| Chicago Board of Education, GO |
||||||||
| Series A, 5.00%, 12/01/42 |
540 | 534,049 | ||||||
| Series C, 5.25%, 12/01/35 |
1,465 | 1,480,069 | ||||||
| Series D, 5.00%, 12/01/46 |
1,915 | 1,892,831 | ||||||
| Series H, 5.00%, 12/01/36 |
450 | 454,918 | ||||||
| Chicago Board of Education, Refunding GO |
||||||||
| Series C, 5.00%, 12/01/25 |
1,460 | 1,486,021 | ||||||
| Series F, 5.00%, 12/01/24 |
615 | 620,752 | ||||||
| Series G, 5.00%, 12/01/34 |
450 | 460,671 | ||||||
| Chicago O’Hare International Airport, Refunding ARB, Series B, Senior Lien, 5.00%, 01/01/53 |
1,435 | 1,492,133 | ||||||
| City of Chicago Illinois Waterworks Revenue, Refunding RB, 2nd Lien, (AGM), 5.25%, 11/01/33 |
260 | 260,433 | ||||||
| Cook County Community College District No. 508, GO, 5.50%, 12/01/38 |
805 | 807,273 | ||||||
| Illinois Finance Authority, RB |
||||||||
| Series A, 5.00%, 02/15/47 |
235 | 227,667 | ||||||
| Series A, 5.00%, 02/15/50 |
130 | 123,987 | ||||||
| Illinois Finance Authority, Refunding RB |
||||||||
| Series C, 4.00%, 02/15/27(c) |
145 | 151,947 | ||||||
| Series C, 4.00%, 02/15/41 |
3,075 | 3,032,925 | ||||||
| Illinois State Toll Highway Authority, RB, Series A, 4.00%, 01/01/46 |
4,400 | 4,229,958 | ||||||
| Metropolitan Pier & Exposition Authority, RB, Series A, 5.00%, 06/15/57 |
870 | 872,662 | ||||||
| Security | Par (000) |
Value | ||||||
|
|
||||||||
| Illinois (continued) | ||||||||
| Metropolitan Pier & Exposition Authority, Refunding RB, Series B, (AGM), 0.00%, 06/15/44(d) |
$ | 5,175 | $ | 1,912,519 | ||||
| State of Illinois, GO |
||||||||
| 5.00%, 02/01/39 |
1,540 | 1,545,496 | ||||||
| Series A, 5.00%, 04/01/35 |
3,000 | 3,011,925 | ||||||
| Series A, 5.00%, 04/01/38 |
3,490 | 3,504,410 | ||||||
| Series B, 5.25%, 05/01/43 |
500 | 540,297 | ||||||
| University of Illinois, RB, Series A, 5.00%, 04/01/44 |
985 | 994,511 | ||||||
| Village of Hodgkins Illinois, RB, AMT, 6.00%, 11/01/23 |
540 | 540,685 | ||||||
|
|
|
|||||||
| 30,178,139 | ||||||||
| Indiana — 2.4% | ||||||||
| City of Valparaiso Indiana, RB |
||||||||
| AMT, 6.75%, 01/01/34 |
790 | 803,064 | ||||||
| AMT, 7.00%, 01/01/44 |
1,905 | 1,932,462 | ||||||
| Indiana Finance Authority, RB(c) |
||||||||
| Series A, AMT, 5.00%, 07/01/23 |
1,880 | 1,884,164 | ||||||
| Series A, AMT, 5.25%, 07/01/23 |
405 | 406,185 | ||||||
| Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 01/15/40 |
1,270 | 1,271,029 | ||||||
|
|
|
|||||||
| 6,296,904 | ||||||||
| Kansas — 0.1% | ||||||||
| Ellis County Unified School District No. 489 Hays, Refunding GO, Series B, (AGM), 4.00%, 09/01/52 |
260 | 243,944 | ||||||
|
|
|
|||||||
| Kentucky — 0.5% | ||||||||
| Kentucky Public Transportation Infrastructure Authority, RB, CAB, Series C, Convertible, 0.00%, 07/01/43(e) |
1,200 | 1,368,533 | ||||||
|
|
|
|||||||
| Louisiana — 0.3% | ||||||||
| Lafayette Parish School Board Sale Tax Revenue, RB, 4.00%, 04/01/53 |
370 | 337,487 | ||||||
| Louisiana Public Facilities Authority, Refunding RB, Class A, 4.00%, 12/15/27(c) |
60 | 63,736 | ||||||
| Tobacco Settlement Financing Corp., Refunding RB, Series A, 5.25%, 05/15/35 |
410 | 412,044 | ||||||
|
|
|
|||||||
| 813,267 | ||||||||
| Maryland — 0.4% | ||||||||
| Maryland Health & Higher Educational Facilities Authority, RB |
||||||||
| Series 2017, 5.00%, 12/01/46 |
420 | 432,003 | ||||||
| Series B, 4.00%, 04/15/50 |
595 | 570,334 | ||||||
|
|
|
|||||||
| 1,002,337 | ||||||||
| Massachusetts — 4.8% | ||||||||
| Commonwealth of Massachusetts Transportation Fund Revenue, RB, Series A, 4.00%, 06/01/45 |
2,035 | 2,000,051 | ||||||
| Commonwealth of Massachusetts, GO |
||||||||
| Series C, 5.00%, 10/01/47 |
1,285 | 1,423,998 | ||||||
| Series C, 5.00%, 10/01/52 |
1,335 | 1,463,650 | ||||||
| Massachusetts Development Finance Agency, RB, Series A, 5.00%, 01/01/47 |
1,150 | 1,153,654 | ||||||
| Massachusetts Development Finance Agency, Refunding RB |
||||||||
| 4.00%, 10/01/32(b) |
215 | 196,737 | ||||||
| 4.13%, 10/01/42(b) |
470 | 397,101 | ||||||
| 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 MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
|
||||||||
| Massachusetts (continued) | ||||||||
| Massachusetts Development Finance Agency, Refunding RB (continued) |
||||||||
| 5.00%, 07/01/47 |
$ | 4,575 | $ | 4,700,968 | ||||
| Massachusetts Port Authority, ARB, Series E, AMT, 5.00%, 07/01/46 |
1,110 | 1,166,169 | ||||||
|
|
|
|||||||
| 12,502,328 | ||||||||
| Michigan — 6.7% | ||||||||
| Great Lakes Water Authority Sewage Disposal System Revenue, RB |
||||||||
| Series B, 2nd Lien, 5.25%, 07/01/47 |
545 | 582,794 | ||||||
| Series B, 2nd Lien, 5.50%, 07/01/52 |
1,290 | 1,391,782 | ||||||
| Series A, Senior Lien, 5.25%, 07/01/52 |
1,290 | 1,403,557 | ||||||
| Great Lakes Water Authority Water Supply System Revenue, RB |
||||||||
| Series A, Senior Lien, 5.25%, 07/01/52 |
1,290 | 1,400,789 | ||||||
| Series B, Senior Lien, 5.50%, 07/01/52 |
1,290 | 1,405,111 | ||||||
| Lansing Board of Water & Light, Refunding RB, Series A, 5.00%, 07/01/44 |
715 | 758,626 | ||||||
| Michigan Finance Authority, RB 4.00%, 02/15/47 |
395 | 374,599 | ||||||
| 4.00%, 02/15/50 |
2,235 | 2,080,801 | ||||||
| 4.00%, 02/15/44 |
810 | 782,158 | ||||||
| Michigan Finance Authority, Refunding RB |
||||||||
| Series A, 4.00%, 12/01/49 |
1,480 | 1,370,227 | ||||||
| Series MI1, 5.00%, 12/01/48 |
2,000 | 2,061,530 | ||||||
| Michigan State Housing Development Authority, RB, M/F Housing, Series A, 5.00%, 10/01/48 |
2,555 | 2,600,185 | ||||||
| Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43 |
1,070 | 1,084,362 | ||||||
|
|
|
|||||||
| 17,296,521 | ||||||||
| Minnesota — 1.6% | ||||||||
| Duluth Economic Development Authority, Refunding RB |
||||||||
| Series A, 4.25%, 02/15/48 |
2,020 | 1,948,565 | ||||||
| Series A, 5.25%, 02/15/53 |
565 | 583,886 | ||||||
| Series A, 5.25%, 02/15/58 |
1,480 | 1,525,616 | ||||||
|
|
|
|||||||
| 4,058,067 | ||||||||
| Mississippi — 2.3% | ||||||||
| State of Mississippi Gaming Tax Revenue, RB |
||||||||
| Series A, 5.00%, 10/15/37 |
1,000 | 1,054,387 | ||||||
| Series A, 4.00%, 10/15/38 |
5,000 | 4,844,480 | ||||||
|
|
|
|||||||
| 5,898,867 | ||||||||
| Missouri — 3.6% | ||||||||
| Health & Educational Facilities Authority of the State of Missouri, Refunding RB |
||||||||
| 5.50%, 05/01/43 |
245 | 245,000 | ||||||
| 5.00%, 09/01/48 |
2,610 | 2,703,235 | ||||||
| Series A, 4.00%, 02/15/49 |
2,630 | 2,427,850 | ||||||
| Series C, 5.00%, 11/15/42 |
2,570 | 2,660,387 | ||||||
| Kansas City Industrial Development Authority, ARB, Class B, AMT, 5.00%, 03/01/54 |
1,280 | 1,311,054 | ||||||
|
|
|
|||||||
| 9,347,526 | ||||||||
| Security | Par (000) |
Value | ||||||
|
|
||||||||
| Nebraska — 1.5% | ||||||||
| Omaha Public Power District, RB, Series A, (AGM-CR), 4.00%, 02/01/51 |
$ | 4,040 | $ | 3,846,650 | ||||
|
|
|
|||||||
| New Hampshire(b) — 0.8% | ||||||||
| New Hampshire Business Finance Authority, Refunding RB |
||||||||
| Series B, 4.63%, 11/01/42 |
1,545 | 1,299,852 | ||||||
| Series C, AMT, 4.88%, 11/01/42 |
805 | 699,483 | ||||||
|
|
|
|||||||
| 1,999,335 | ||||||||
| New Jersey — 11.0% | ||||||||
| Casino Reinvestment Development Authority, Inc., Refunding RB |
||||||||
| 5.25%, 11/01/39 |
1,675 | 1,698,437 | ||||||
| 5.25%, 11/01/44 |
1,525 | 1,537,139 | ||||||
| New Jersey Economic Development Authority, RB |
||||||||
| Class A, 5.25%, 11/01/47 |
1,740 | 1,905,404 | ||||||
| Series EEE, 5.00%, 06/15/48 |
5,845 | 6,109,404 | ||||||
| New Jersey Economic Development Authority, Refunding ARB, AMT, 5.00%, 10/01/47 |
1,425 | 1,344,319 | ||||||
| New Jersey Economic Development Authority, Refunding SAB, 5.75%, 04/01/31 |
2,240 | 2,196,264 | ||||||
| New Jersey Higher Education Student Assistance Authority, Refunding RB |
||||||||
| Series B, AMT, 4.00%, 12/01/41 |
1,230 | 1,223,341 | ||||||
| Series C, AMT, Subordinate, 5.00%, 12/01/52 |
1,245 | 1,286,124 | ||||||
| New Jersey Transportation Trust Fund Authority, RB |
||||||||
| Series AA, 5.00%, 06/15/44 |
825 | 826,722 | ||||||
| Series S, 5.00%, 06/15/46 |
1,225 | 1,284,900 | ||||||
| New Jersey Turnpike Authority, RB, Series E, 5.00%, 01/01/45 |
2,615 | 2,671,102 | ||||||
| Tobacco Settlement Financing Corp., Refunding RB |
||||||||
| Series A, 5.25%, 06/01/46 |
525 | 546,954 | ||||||
| Sub-Series B, 5.00%, 06/01/46 |
6,070 | 6,022,023 | ||||||
|
|
|
|||||||
| 28,652,133 | ||||||||
| New York — 21.2% | ||||||||
| City of New York, GO |
||||||||
| Series A-1, 4.00%, 09/01/46 |
800 | 777,754 | ||||||
| Series C, 5.00%, 08/01/43 |
1,115 | 1,215,143 | ||||||
| Erie Tobacco Asset Securitization Corp., Refunding RB, Series A, 5.00%, 06/01/45 |
1,960 | 1,790,437 | ||||||
| Metropolitan Transportation Authority, Refunding RB |
||||||||
| Series C-1, 4.75%, 11/15/45 |
1,585 | 1,604,282 | ||||||
| Series C-1, 5.00%, 11/15/50 |
515 | 528,217 | ||||||
| Series C-1, 5.25%, 11/15/55 |
760 | 792,022 | ||||||
| New York City Municipal Water Finance Authority, Refunding RB |
||||||||
| Series BB-1, 4.00%, 06/15/45 |
740 | 735,402 | ||||||
| Series DD, 4.13%, 06/15/46 |
4,410 | 4,361,697 | ||||||
| Series DD, 4.13%, 06/15/47 |
4,535 | 4,478,136 | ||||||
| New York City Transitional Finance Authority Future Tax Secured Revenue, RB, Series F-1, Subordinate, 4.00%, 02/01/51 |
400 | 384,964 | ||||||
| New York Counties Tobacco Trust IV, Refunding RB |
||||||||
| Series A, 5.00%, 06/01/38 |
1,895 | 1,797,464 | ||||||
| 3 |
|
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| New York (continued) | ||||||||
| New York Counties Tobacco Trust IV, Refunding RB (continued) |
||||||||
| Series A, 6.25%, 06/01/41(b) |
$ | 1,800 | $ | 1,800,266 | ||||
| New York Liberty Development Corp., Refunding RB 3.13%, 09/15/50 |
1,815 | 1,393,700 | ||||||
| Class 2, 5.38%, 11/15/40(b) |
850 | 850,745 | ||||||
| Series 1, 5.00%, 11/15/44(b) |
2,860 | 2,759,285 | ||||||
| Series A, 2.88%, 11/15/46 |
995 | 706,699 | ||||||
| Series A, (BAM-TCRS), 3.00%, 11/15/51 |
2,370 | 1,662,394 | ||||||
| New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/55 |
1,310 | 1,239,627 | ||||||
| New York State Dormitory Authority, RB, Series A, 4.00%, 03/15/47 |
745 | 730,833 | ||||||
| New York State Dormitory Authority, Refunding RB |
||||||||
| Series A, 4.00%, 03/15/44 |
1,080 | 1,055,575 | ||||||
| Series A, 4.00%, 03/15/47 |
3,855 | 3,739,890 | ||||||
| Series A, 4.00%, 03/15/48 |
640 | 618,059 | ||||||
| New York State Urban Development Corp., RB |
||||||||
| Series A, 4.00%, 03/15/46 |
6,610 | 6,391,672 | ||||||
| Series A, 4.00%, 03/15/49 |
860 | 834,738 | ||||||
| New York State Urban Development Corp., Refunding RB |
||||||||
| 4.00%, 03/15/49 |
990 | 949,683 | ||||||
| Series E, 4.00%, 03/15/46 |
3,000 | 2,909,553 | ||||||
| New York Transportation Development Corp., RB, AMT, 5.00%, 10/01/35 |
1,050 | 1,102,271 | ||||||
| Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55 |
2,595 | 2,682,114 | ||||||
| Triborough Bridge & Tunnel Authority Sales Tax Revenue, RB |
||||||||
| Series A, 4.00%, 05/15/48 |
3,055 | 2,985,881 | ||||||
| Series A, 5.00%, 05/15/48 |
400 | 439,480 | ||||||
| Triborough Bridge & Tunnel Authority, RB |
||||||||
| Series A, 5.00%, 11/15/49 |
850 | 911,644 | ||||||
| Series A, 5.00%, 11/15/54 |
825 | 879,041 | ||||||
|
|
|
|||||||
| 55,108,668 | ||||||||
| Ohio — 3.0% | ||||||||
| Buckeye Tobacco Settlement Financing Authority, Refunding RB |
||||||||
| Series A-2, 4.00%, 06/01/48 |
830 | 733,689 | ||||||
| Series B-2, Class 2, 5.00%, 06/01/55 |
3,935 | 3,666,708 | ||||||
| County of Franklin Ohio, RB |
||||||||
| Series 2017, 5.00%, 12/01/46 |
400 | 411,773 | ||||||
| Series A, 4.00%, 12/01/44 |
505 | 480,962 | ||||||
| County of Hamilton Ohio, RB, Series CC, 5.00%, 11/15/49 |
530 | 590,162 | ||||||
| County of Hamilton Ohio, Refunding RB |
590 | 549,911 | ||||||
| Series A, 3.75%, 08/15/50 |
1,040 | 920,162 | ||||||
| Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(b) |
130 | 119,689 | ||||||
| State of Ohio, RB, AMT, 5.00%, 06/30/53 |
275 | 275,186 | ||||||
|
|
|
|||||||
| 7,748,242 | ||||||||
| Security | Par (000) |
Value | ||||||
| Oklahoma — 0.8% | ||||||||
| Oklahoma Development Finance Authority, RB, Series B, 5.50%, 08/15/57 |
$ | 1,155 | $ | 1,061,000 | ||||
| Oklahoma Turnpike Authority, RB, Series A, 4.00%, 01/01/48 |
960 | 940,260 | ||||||
|
|
|
|||||||
| 2,001,260 | ||||||||
| Oregon — 3.1% | ||||||||
| Port of Portland Oregon Airport Revenue, Refunding ARB, 29th Series, AMT, 5.50%, 07/01/48 |
7,230 | 7,981,717 | ||||||
|
|
|
|||||||
| Pennsylvania — 4.2% | ||||||||
| Allegheny County Airport Authority, ARB, Series A, AMT, (AGM-CR), 4.00%, 01/01/56 |
605 | 551,079 | ||||||
| Lancaster Industrial Development Authority, RB, 5.00%, 12/01/44 |
1,070 | 1,098,658 | ||||||
| Montgomery County Higher Education and Health Authority, Refunding RB |
||||||||
| 4.00%, 09/01/51 |
510 | 459,754 | ||||||
| Series A, 5.00%, 09/01/48 |
345 | 353,229 | ||||||
| Series A, 4.00%, 09/01/49 |
555 | 504,250 | ||||||
| Pennsylvania Economic Development Financing Authority, RB, AMT, 5.00%, 06/30/42 |
850 | 852,232 | ||||||
| Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, 5.50%, 11/01/44 |
1,035 | 1,035,929 | ||||||
| Pennsylvania Housing Finance Agency, Refunding RB, S/F Housing, Series 2022, 4.25%, 10/01/52 |
1,120 | 1,142,386 | ||||||
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, Refunding RB, Series B, 4.00%, 12/01/53 .. |
1,090 | 1,020,813 | ||||||
| Pennsylvania Turnpike Commission, RB |
||||||||
| Series A, 5.00%, 12/01/44 |
1,105 | 1,123,072 | ||||||
| Series A, Subordinate, (BAM-TCRS), 4.00%, 12/01/50 |
735 | 713,040 | ||||||
| Pennsylvania Turnpike Commission, Refunding RB, Series C, 4.00%, 12/01/51 |
2,140 | 2,031,958 | ||||||
|
|
|
|||||||
| 10,886,400 | ||||||||
| Puerto Rico — 5.5% | ||||||||
| Commonwealth of Puerto Rico, GO |
||||||||
| Series A1, Restructured, 5.63%, 07/01/29 |
1,435 | 1,522,268 | ||||||
| Series A1, Restructured, 5.75%, 07/01/31 |
1,295 | 1,395,336 | ||||||
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, Series A1, Restructured, 4.75%, 07/01/53 |
1,843 | 1,730,284 | ||||||
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, CAB, Series A1, Restructured, 0.00%, 07/01/46(d) |
5,051 | 1,373,432 | ||||||
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB |
||||||||
| Series A1, Restructured, 5.00%, 07/01/58 |
5,562 | 5,348,770 | ||||||
| Series A-2, Restructured, 4.78%, 07/01/58 |
2,941 | 2,723,998 | ||||||
| Series A-2, Restructured, 4.33%, 07/01/40 |
85 | 78,956 | ||||||
|
|
|
|||||||
| 14,173,044 | ||||||||
| Rhode Island — 0.3% | ||||||||
| Tobacco Settlement Financing Corp., Refunding RB, Series A, 5.00%, 06/01/35 |
820 | 828,963 | ||||||
|
|
|
|||||||
| South Carolina — 5.6% | ||||||||
| South Carolina Jobs-Economic Development Authority, Refunding RB |
||||||||
| 4.00%, 12/01/44 |
1,820 | 1,775,883 | ||||||
| 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 MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
|
||||||||
| South Carolina (continued) | ||||||||
| South Carolina Jobs-Economic Development Authority, Refunding RB (continued) |
||||||||
| 5.00%, 11/15/47 |
$ | 1,350 | $ | 1,266,880 | ||||
| Series A, 5.00%, 05/01/48 |
1,505 | 1,527,825 | ||||||
| South Carolina Ports Authority, ARB, Series B, AMT, 4.00%, 07/01/49 |
650 | 593,259 | ||||||
| South Carolina Public Service Authority, RB, Series A, 5.50%, 12/01/54 |
6,180 | 6,235,954 | ||||||
| South Carolina Public Service Authority, Refunding RB |
||||||||
| Series A, 5.00%, 12/01/50 |
1,430 | 1,437,989 | ||||||
| Series E, 5.25%, 12/01/55 |
1,735 | 1,760,940 | ||||||
|
|
|
|||||||
| 14,598,730 | ||||||||
| Tennessee — 3.8% | ||||||||
| Memphis-Shelby County Airport Authority, ARB, Series A, AMT, 5.00%, 07/01/45 |
1,275 | 1,327,641 | ||||||
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, Series A, 5.00%, 07/01/40 |
690 | 706,072 | ||||||
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Refunding RB, Series A, 5.25%, 10/01/58 |
955 | 932,793 | ||||||
| Tennergy Corp., RB, Series A, 5.50%, 10/01/53(a) |
1,640 | 1,764,253 | ||||||
| Tennessee Energy Acquisition Corp., Refunding RB, Series A-1, 5.00%, 05/01/53(a) |
3,595 | 3,722,303 | ||||||
| Tennessee Housing Development Agency, RB, S/F Housing, Second Series, 5.00%, 01/01/53 |
1,285 | 1,336,155 | ||||||
|
|
|
|||||||
| 9,789,217 | ||||||||
| Texas — 6.1% | ||||||||
| Arlington Higher Education Finance Corp., RB(b) |
||||||||
| 7.50%, 04/01/62 |
435 | 461,744 | ||||||
| 7.88%, 11/01/62 |
370 | 380,518 | ||||||
| City of Austin Texas Airport System Revenue, ARB, Series B, AMT, 5.00%, 11/15/44 |
1,795 | 1,862,655 | ||||||
| City of Houston Texas Airport System Revenue, Refunding RB, AMT, 5.00%, 07/01/29 |
775 | 774,980 | ||||||
| Clifton Higher Education Finance Corp., RB, 6.00%, 08/15/43 |
745 | 749,860 | ||||||
| Fort Bend County Industrial Development Corp., RB, Series B, 4.75%, 11/01/42 |
670 | 623,272 | ||||||
| Fort Worth Independent School District, GO, (PSF), 4.00%, 02/15/48 |
140 | 137,781 | ||||||
| San Antonio Water System, Refunding RB, Series A, Junior Lien, 5.00%, 05/15/48 |
1,245 | 1,300,478 | ||||||
| Tarrant County Cultural Education Facilities Finance Corp., RB |
||||||||
| Series A, 4.00%, 07/01/53 |
620 | 564,714 | ||||||
| Series A, 5.00%, 07/01/53 |
760 | 791,072 | ||||||
| Series B, 5.00%, 07/01/48 |
4,545 | 4,679,737 | ||||||
| Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, 5.00%, 10/01/49 |
1,000 | 974,153 | ||||||
| Texas Private Activity Bond Surface Transportation Corp., RB, AMT, 5.00%, 06/30/58 |
1,140 | 1,140,967 | ||||||
| Texas Water Development Board, RB, 4.00%, 10/15/45 |
1,285 | 1,275,294 | ||||||
|
|
|
|||||||
| 15,717,225 | ||||||||
| Utah — 1.5% | ||||||||
| City of Salt Lake City Utah Airport Revenue, ARB |
||||||||
| Series A, AMT, 5.00%, 07/01/47 |
915 | 932,456 | ||||||
| Security | Par (000) |
Value | ||||||
|
|
||||||||
| Utah (continued) | ||||||||
| City of Salt Lake City Utah Airport Revenue, |
||||||||
| Series A, AMT, 5.00%, 07/01/48 |
$ | 875 | $ | 893,016 | ||||
| Series A, Class A-AMT, AMT, 5.00%, 07/01/46 |
1,950 | 2,021,083 | ||||||
|
|
|
|||||||
| 3,846,555 | ||||||||
| Virginia — 1.8% | ||||||||
| Front Royal & Warren County Industrial Development Authority, RB, 4.00%, 01/01/50 |
1,160 | 1,074,187 | ||||||
| Hampton Roads Transportation Accountability Commission, RB |
||||||||
| Series A, 4.00%, 07/01/52 |
1,455 | 1,398,681 | ||||||
| Series A, Senior Lien, 4.00%, 07/01/55 |
2,395 | 2,298,481 | ||||||
|
|
|
|||||||
| 4,771,349 | ||||||||
| Washington — 1.1% | ||||||||
| Port of Seattle Washington, ARB |
||||||||
| Series A, AMT, 5.00%, 05/01/43 |
1,465 | 1,507,199 | ||||||
| Series C, AMT, 5.00%, 04/01/40 |
755 | 764,740 | ||||||
| Port of Seattle Washington, Refunding ARB, AMT, Intermediate Lien, 5.50%, 08/01/47 |
645 | 702,651 | ||||||
|
|
|
|||||||
| 2,974,590 | ||||||||
|
|
|
|||||||
| Total Municipal Bonds — 148.2% |
384,622,865 | |||||||
|
|
|
|||||||
| Municipal Bonds Transferred to Tender Option Bond Trusts(f) |
| |||||||
| Georgia — 1.8% |
||||||||
| Main Street Natural Gas, Inc., RB, Series B, 5.00%, 12/01/52(a) |
4,379 | 4,586,863 | ||||||
|
|
|
|||||||
| Nebraska — 0.9% |
||||||||
| Central Plains Energy Project, RB, Series 1, 5.00%, 05/01/53(a) |
2,084 | 2,174,464 | ||||||
|
|
|
|||||||
| Wisconsin — 1.0% |
||||||||
| Wisconsin Health & Educational Facilities Authority, Refunding RB, 4.00%, 12/01/46 |
2,830 | 2,691,565 | ||||||
|
|
|
|||||||
| Total Municipal Bonds Transferred to Tender Option Bond Trusts — 3.7% |
9,452,892 | |||||||
|
|
|
|||||||
| Total Long-Term Investments — 151.9% |
394,075,757 | |||||||
|
|
|
|||||||
| 5 |
|
| Schedule of Investments (unaudited) (continued) April 30, 2023 |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
|
||||||||
| Short-Term Securities | ||||||||
| Money Market Funds — 3.1% |
||||||||
| BlackRock Liquidity Funds, MuniCash, Institutional Class, 3.27%(g)(h) |
8,038,526 | $ | 8,037,722 | |||||
|
|
|
|||||||
| Total Short-Term Securities — 3.1% |
8,037,722 | |||||||
|
|
|
|||||||
| Total Investments — 155.0% |
|
402,113,479 | ||||||
| Other Assets Less Liabilities — 1.2% |
|
3,132,771 | ||||||
| Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (2.2)% |
|
(5,779,970 | ) | |||||
| VMTP Shares at Liquidation Value, Net of Deferred Offering Costs — (54.0)% |
|
(140,000,000 | ) | |||||
|
|
|
|||||||
| Net Assets Applicable to Common |
|
$ | 259,466,280 | |||||
|
|
|
|||||||
| (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) | 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. |
| (d) | Zero-coupon bond. |
| (e) | 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. |
| (f) | 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. |
| (g) | Affiliate of the Fund. |
| (h) | 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 |
$ | 10,140,146 | $ | — | $ | (2,098,144 | )(a) | $ | (854 | ) | $ | (3,426 | ) | $ | 8,037,722 | 8,038,526 | $ | 204,698 | $ | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (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 |
84 | 06/21/23 | $ | 9,698 | $ | (305,002 | ) | |||||||||
| U.S. Long Bond |
134 | 06/21/23 | 17,671 | (676,726 | ) | |||||||||||
| 5-Year U.S. Treasury Note |
67 | 06/30/23 | 7,367 | (169,501 | ) | |||||||||||
|
|
|
|||||||||||||||
| $ | (1,151,229 | ) | ||||||||||||||
|
|
|
|||||||||||||||
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
| 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 MuniVest Fund II, Inc. (MVT) |
Fair Value Hierarchy as of Period End (continued)
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 |
$ | — | $ | 384,622,865 | $ | — | $ | 384,622,865 | ||||||||
| Municipal Bonds Transferred to Tender Option Bond Trusts |
— | 9,452,892 | — | 9,452,892 | ||||||||||||
| Short-Term Securities |
||||||||||||||||
| Money Market Funds |
8,037,722 | — | — | 8,037,722 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 8,037,722 | $ | 394,075,757 | $ | — | $ | 402,113,479 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Derivative Financial Instruments(a) |
||||||||||||||||
| Liabilities |
||||||||||||||||
| Interest Rate Contracts |
$ | (1,151,229 | ) | $ | — | $ | — | $ | (1,151,229 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (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 |
$ | — | $ | (5,722,798 | ) | $ | — | $ | (5,722,798 | ) | ||||||
| VMTP Shares at Liquidation Value |
— | (140,000,000 | ) | — | (140,000,000 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | — | $ | (145,722,798 | ) | $ | — | $ | (145,722,798 | ) | |||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Portfolio Abbreviation | ||
| AGC | Assured Guaranty Corp. | |
| 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 | |
| CAB | Capital Appreciation Bonds | |
| CR | Custodian Receipt | |
| GO | General Obligation Bonds | |
| M/F | Multi-Family | |
| PSF | Permanent School Fund | |
| RB | Revenue Bond | |
| S/F | Single-Family | |
| SAB | Special Assessment Bonds | |
| 7 |
|