Schedule of Investments (unaudited)

October 31, 2023

   

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

    Value  

Municipal Bonds

    
Alabama — 7.1%            

Black Belt Energy Gas District, RB(a)
4.00%, 10/01/52

   $ 6,260     $ 6,031,915  

Series A, 5.25%, 01/01/54

     4,665       4,657,140  

Series F, 5.50%, 11/01/53

     830       839,116  

Black Belt Energy Gas District, Refunding RB, 4.00%, 06/01/51(a)

    7,240       6,664,139  

County of Jefferson Alabama Sewer Revenue, Refunding RB

    

Series A, Senior Lien, (AGM), 5.00%, 10/01/44

         1,665       1,640,446  

Series A, Senior Lien, (AGM), 5.25%, 10/01/48

     3,175       3,177,713  

Series D, Sub Lien, 6.00%, 10/01/42

     7,410       7,566,866  

Energy Southeast A Cooperative District, RB,

    

Series B-1, 5.75%, 04/01/54(a)

    1,585       1,639,100  

Southeast Energy Authority A Cooperative District, RB(a)

   

Series A-1, 5.50%, 01/01/53

     1,405       1,418,196  

Series B, 5.00%, 01/01/54

     1,230       1,220,529  
   

 

 

  
          34,855,160  
Arizona — 3.6%            

City of Phoenix Civic Improvement Corp., RB, 5.25%, 07/01/47(b)

    1,665       1,727,999  

Glendale Industrial Development Authority, RB, 5.00%, 05/15/56

     940       700,065  

Industrial Development Authority of the City of Phoenix Arizona, RB,
Series A, 5.00%, 07/01/46(c)

    3,575       3,038,241  

Salt Verde Financial Corp., RB
5.00%, 12/01/32

     7,365       7,267,057  

5.00%, 12/01/37

     5,000       4,845,403  
   

 

 

  
      17,578,765  
Arkansas — 1.1%            

Arkansas Development Finance Authority, RB

    

AMT, 5.70%, 05/01/53

     895       812,594  

AMT, 4.75%, 09/01/49(c)

    4,900       4,497,787  
   

 

 

  
          5,310,381  
California — 7.1%            

Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/47

         6,490       5,690,302  

California Enterprise Development Authority, RB, 8.00%, 11/15/62(c)

    785       693,278  

California Health Facilities Financing Authority, Refunding RB

    

Series A, 4.00%, 08/15/48

     3,540       3,047,548  

Series B, 5.00%, 11/15/46

     6,025       5,918,922  

California Municipal Finance Authority, RB, S/F Housing

    

Series A, 5.25%, 08/15/39

     305       297,848  

Series A, 5.25%, 08/15/49

     770       750,050  

California Pollution Control Financing Authority, RB, AMT, 5.00%, 11/21/45(c)

    1,650       1,558,127  

California State Public Works Board, RB, Series I, 5.00%, 11/01/38

     1,605       1,606,874  

California Statewide Financing Authority, RB, Series A, 6.00%, 05/01/43

     3,285       3,284,755  

City of Los Angeles Department of Airports, ARB, Series A, AMT, 4.00%, 05/15/42

     2,815       2,424,959  
Security  

Par

(000)

      Value  

California (continued)

     

City of Los Angeles Department of Airports, Refunding ARB

     

AMT, Subordinate, 5.00%, 05/15/46

   $ 2,415      $ 2,366,425  

Series D, AMT, Subordinate, 4.00%, 05/15/51

     1,335        1,072,339  

CSCDA Community Improvement Authority, RB, M/F Housing(c)
4.00%, 10/01/56

     235        176,951  

4.00%, 12/01/56

     340        214,571  

Series A, 4.00%, 06/01/58

     1,150        784,516  

Senior Lien, 3.13%, 06/01/57

     1,215        695,151  

Series A, Senior Lien, 4.00%, 12/01/58

     615        415,915  

San Diego County Regional Airport Authority, ARB, Series B, AMT, Subordinate, 5.00%, 07/01/56

     3,145        2,932,012  

San Diego Public Facilities Financing Authority, Refunding RB, Series A, AMT, 4.00%, 08/01/45

     1,000        910,862  

State of California, GO, (AMBAC), 5.00%, 04/01/31

     10        10,010  
    

 

 

  
       34,851,415  
Colorado — 1.5%             

Board of Governors of Colorado State University System, Refunding RB, Series C, 4.00%, 03/01/47

     4,265        3,571,646  

City & County of Denver Colorado Airport System Revenue, Refunding ARB, Series D, AMT, 5.75%, 11/15/45

     870        906,199  

Colorado Health Facilities Authority, RB
5.50%, 11/01/47

     355        355,440  

5.25%, 11/01/52

     745        709,288  

Colorado Health Facilities Authority, Refunding RB

     

Series A, 5.00%, 08/01/44

     950        904,203  

Series A, 4.00%, 11/15/50

     1,125        896,328  
    

 

 

  
           7,343,104  
Connecticut — 0.1%             

Connecticut State Health & Educational Facilities Authority, RB, 4.25%, 07/15/53

     720        577,369  
    

 

 

  
Delaware — 0.6%             

Delaware River & Bay Authority, Refunding RB, 4.00%, 01/01/44

     3,065        2,697,363  
    

 

 

  
District of Columbia — 8.8%             

District of Columbia Water & Sewer Authority, RB,
Series A, 5.00%, 10/01/52

     1,875        1,854,390  

District of Columbia, Refunding RB, 5.00%, 10/01/48

     4,875        4,616,128  

District of Columbia, TA, 5.13%, 06/01/41

         4,440        4,441,053  

Metropolitan Washington Airports Authority Aviation Revenue, Refunding ARB, Series A, AMT, 4.00%, 10/01/39

     795        681,246  

Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB

     

Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/31(d)

    8,350        5,845,212  

Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/32(d)

    15,000        10,005,180  

Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/33(d)

    13,410        8,497,273  

Series B, Subordinate, 4.00%, 10/01/49

     3,780        2,962,090  
 

 

 

1  

    

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

      Value  

District of Columbia (continued)

     

Washington Metropolitan Area Transit Authority Dedicated Revenue, RB
5.00%, 07/15/48

   $ 1,965      $ 1,981,428  

Series A, 4.00%, 07/15/46

     2,540        2,160,453  
    

 

 

  
       43,044,453  
Florida — 5.2%             

Broward County Florida Water & Sewer Utility Revenue, RB, Series A, 4.00%, 10/01/45

     445        384,393  

County of Miami-Dade Florida Aviation Revenue, Refunding RB, Series A, AMT, 5.00%, 10/01/29

     1,900        1,900,166  

County of Miami-Dade Florida Transit System, RB, 5.00%, 07/01/50

     10,000        9,950,900  

County of Miami-Dade Florida Water & Sewer System Revenue, Refunding RB, Series B, 4.00%, 10/01/49

     4,335        3,676,542  

County of Miami-Dade Seaport Department, Refunding RB, Series A, AMT, 5.25%, 10/01/52

     980        935,544  

County of Pasco Florida, RB, (AGM), 5.00%, 09/01/48

     5,000        4,978,112  

Florida Development Finance Corp., RB, Series A, 5.00%, 06/15/56

     220        191,931  

Lakewood Ranch Stewardship District, SAB, 6.30%, 05/01/54

     435        423,416  

Tampa-Hillsborough County Expressway Authority, RB, 5.00%, 07/01/47

     3,105        3,039,044  
    

 

 

  
       25,480,048  
Georgia — 3.6%             

City of Atlanta Georgia Department of Aviation, ARB, Series B-1, 5.00%, 07/01/53

     1,485        1,502,995  

Cobb County Kennestone Hospital Authority, RB, 4.00%, 04/01/52

     2,400        1,921,730  

Gainesville & Hall County Hospital Authority, RB, Series A, 4.00%, 02/15/51

     1,105        892,720  

Main Street Natural Gas, Inc., RB

     

Series A, 5.00%, 05/15/38

     630        600,279  

Series A, 5.00%, 05/15/49

     2,100        1,954,912  

Series B, 5.00%, 12/01/52(a)

    6,575        6,487,120  

Main Street Natural Gas, Inc., Refunding RB,

     

Series E-1, 5.00%, 12/01/53(a)

    1,655        1,642,294  

Municipal Electric Authority of Georgia, RB, 4.00%, 01/01/49

     3,290        2,731,254  
    

 

 

  
           17,733,304  
Idaho — 2.1%             

Power County Industrial Development Corp., RB, AMT, 6.45%, 08/01/32

         10,000        10,006,608  
    

 

 

  
Illinois — 9.3%             

Chicago Board of Education, GO

     

Series A, 5.00%, 12/01/42

     1,115        996,592  

Series C, 5.25%, 12/01/35

     3,095        3,017,386  

Series D, 5.00%, 12/01/46

     4,040        3,569,677  

Series H, 5.00%, 12/01/36

     460        433,798  

Chicago Board of Education, Refunding GO

     

Series D, 5.00%, 12/01/31

     1,000        988,168  

Series G, 5.00%, 12/01/34

     455        442,454  

Chicago O’Hare International Airport, Refunding ARB,

     

Series B, Senior Lien, 5.00%, 01/01/53

     3,035        2,969,350  
Security  

Par

(000)

      Value  

Illinois (continued)

     

City of Chicago Illinois Wastewater Transmission Revenue, RB, Series A, 2nd Lien, (AGM), 5.25%, 01/01/58

   $ 7,435      $ 7,437,591  

Cook County Community College District No. 508, GO, 5.50%, 12/01/38

     1,635        1,595,419  

Illinois Finance Authority, RB, Series A, 5.00%, 02/15/50

     270        223,627  

Illinois Finance Authority, Refunding RB, Series C, 4.00%, 02/15/41

     2,860        2,478,653  

Illinois Housing Development Authority, Refunding RB, S/F Housing, Series H, (FHLMC, FNMA, GNMA), 4.65%, 10/01/43

     3,095        2,801,659  

Metropolitan Pier & Exposition Authority, RB, 5.00%, 06/15/57

     1,835        1,676,361  

Metropolitan Pier & Exposition Authority, Refunding RB(d)

    

Series B, (AGM), 0.00%, 06/15/44

     10,925        3,546,796  

Series B, (AGM), 0.00%, 06/15/47

     27,225        7,283,354  

State of Illinois, GO, 5.00%, 02/01/39

     3,195        3,125,787  

State of Illinois, Refunding GO, Series B, 5.00%, 10/01/28

     1,000        1,032,654  

University of Illinois, RB, Series A, 5.00%, 04/01/44

     2,045        2,047,552  
    

 

 

  
       45,666,878  
Indiana — 1.1%             

City of Valparaiso Indiana, RB

     

AMT, 6.75%, 01/01/34

     1,635        1,638,818  

AMT, 7.00%, 01/01/44

     3,950        3,958,556  
    

 

 

  
       5,597,374  
Kansas — 0.1%             

Ellis County Unified School District No. 489 Hays, Refunding GO, Series B, (AGM), 4.00%, 09/01/52

     530        429,320  
    

 

 

  
Kentucky — 1.0%             

Kentucky Economic Development Finance Authority, Refunding RB, Series A, 5.00%, 08/01/44

     2,140        2,022,887  

Kentucky Public Transportation Infrastructure Authority, RB, CAB, Convertible, 6.75%, 07/01/43(e)

    2,485        2,722,205  
    

 

 

  
       4,745,092  
Louisiana — 1.2%             

Lafayette Parish School Board Sale Tax Revenue, RB, 4.00%, 04/01/53

     760        634,130  

Louisiana Stadium & Exposition District, Refunding RB, Series A, 5.00%, 07/01/48

     2,560        2,523,071  

New Orleans Aviation Board, ARB, Series B, AMT, 5.00%, 01/01/48

     1,920        1,743,137  

Tobacco Settlement Financing Corp. Refunding RB, Series A, 5.25%, 05/15/35

     835        835,347  
    

 

 

  
           5,735,685  
Maryland — 0.2%             

Maryland Health & Higher Educational Facilities Authority, RB, Series B, 4.00%, 04/15/50

     1,250        1,000,499  
    

 

 

  
Massachusetts — 3.9%             

Commonwealth of Massachusetts Transportation Fund Revenue, RB, Series B, 5.00%, 06/01/50

         5,000        5,034,391  

Commonwealth of Massachusetts, GO

     

Series C, 5.00%, 10/01/47

     2,740        2,781,819  

Series C, 5.00%, 10/01/52

     2,835        2,871,464  
 

 

 

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)

October 31, 2023

   

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

      Value  

Massachusetts (continued)

     

Massachusetts Bay Transportation Authority Sales Tax Revenue, Refunding RB, Series A-1, 5.25%, 07/01/29

   $ 3,250      $ 3,540,156  

Massachusetts Development Finance Agency, RB, Series A, 5.00%, 01/01/47

     3,000        2,711,764  

Massachusetts Port Authority, ARB, Series E, AMT, 5.00%, 07/01/46

     2,325        2,252,204  
    

 

 

  
       19,191,798  
Michigan — 5.1%             

Great Lakes Water Authority Sewage Disposal System Revenue, RB

     

Series B, 2nd Lien, 5.25%, 07/01/47

     1,125        1,126,097  

Series B, 2nd Lien, 5.50%, 07/01/52

     2,655        2,714,789  

Series A, Senior Lien, 5.25%, 07/01/52

     2,655        2,663,982  

Great Lakes Water Authority Water Supply System Revenue, RB

     

Series A, Senior Lien, 5.25%, 07/01/52

     2,655        2,663,982  

Series B, Senior Lien, 5.50%, 07/01/52

     2,655        2,712,142  

Michigan Finance Authority, RB
4.00%, 02/15/47

     820        671,788  

4.00%, 02/15/50

     4,730        3,822,864  

4.00%, 02/15/44

     1,710        1,422,968  

Michigan Finance Authority, Refunding RB, Series A, 4.00%, 12/01/49

     3,110        2,479,265  

Michigan State Building Authority, Refunding RB, Series II, 4.00%, 10/15/47

     540        458,131  

Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43

     2,255        2,096,666  

State of Michigan Trunk Line Revenue, RB, BAB, 5.50%, 11/15/49

         1,855        1,946,539  
    

 

 

  
           24,779,213  
Minnesota — 1.0%             

Duluth Economic Development Authority, Refunding RB

     

Series A, 4.25%, 02/15/48

     2,160        1,798,895  

Series A, 5.25%, 02/15/58

     3,125        2,993,469  
    

 

 

  
       4,792,364  
Missouri — 2.5%             

Health & Educational Facilities Authority of the State of Missouri, Refunding RB

     

Series A, 4.00%, 02/15/49

     5,555        4,478,766  

Series C, 5.00%, 11/15/42

     5,470        5,355,665  

Kansas City Industrial Development Authority, ARB, Class B, AMT, 5.00%, 03/01/54

     2,680        2,474,803  
    

 

 

  
       12,309,234  
Nebraska — 2.7%             

Central Plains Energy Project, RB, Series 1, 5.00%, 05/01/53(a)

    4,300        4,239,581  

Omaha Public Power District, RB

     

Series A, 5.25%, 02/01/48(b)

    1,550        1,605,683  

Series A, (AGM-CR), 4.00%, 02/01/51

     8,700        7,131,210  
    

 

 

  
       12,976,474  
Security  

Par

(000)

      Value  

New Hampshire(c) — 0.8%

     

New Hampshire Business Finance Authority, Refunding RB

     

Series B, 4.63%, 11/01/42

   $ 3,205      $ 2,528,224  

Series C, AMT, 4.88%, 11/01/42

     1,665        1,290,356  
    

 

 

  
       3,818,580  
New Jersey — 9.8%             

Casino Reinvestment Development Authority, Inc., Refunding RB
5.25%, 11/01/39

     3,490        3,373,444  

5.25%, 11/01/44

     3,180        2,960,405  

New Jersey Economic Development Authority, RB Class A, 5.25%, 11/01/47

     3,565        3,613,254  

Series EEE, 5.00%, 06/15/48

     12,340        12,063,523  

Series B, AMT, 6.50%, 04/01/31

     1,845        1,830,132  

New Jersey Economic Development Authority, Refunding ARB, AMT, 5.00%, 10/01/47

     3,040        2,770,409  

New Jersey Higher Education Student Assistance Authority, Refunding RB

     

Series B, AMT, 4.00%, 12/01/41

     2,570        2,333,365  

Series C, AMT, Subordinate, 5.00%, 12/01/52

     2,595        2,404,434  

New Jersey Transportation Trust Fund Authority, RB
Series C, (AMBAC), 0.00%, 12/15/35(d)

    7,395        4,062,770  

Series S, 5.00%, 06/15/46

     2,415        2,345,888  

Tobacco Settlement Financing Corp., Refunding RB

     

Series A, 5.00%, 06/01/46

     2,435        2,295,098  

Series A, 5.25%, 06/01/46

     2,685        2,639,488  

Sub-Series B, 5.00%, 06/01/46

     5,670        5,265,252  
    

 

 

  
           47,957,462  
New York — 19.7%             

City of New York, GO

     

Series A-1, 4.00%, 09/01/46

     1,640        1,393,683  

Series C, 5.00%, 08/01/43

     2,330        2,347,477  

Erie Tobacco Asset Securitization Corp., Refunding RB, Series A, 5.00%, 06/01/45

     4,070        3,525,058  

Metropolitan Transportation Authority, Refunding RB

     

Series C-1, 4.75%, 11/15/45

     3,335        3,067,268  

Series C-1, 5.00%, 11/15/50

     1,085        1,023,570  

Series C-1, 5.25%, 11/15/55

     1,605        1,578,101  

Monroe County Industrial Development Corp., Refunding RB, Series A, 4.00%, 07/01/50

     3,335        2,789,807  

New York City Municipal Water Finance Authority, Refunding RB

     

Series BB-1, 4.00%, 06/15/45

     1,545        1,352,830  

Series DD, 4.13%, 06/15/46

         9,330        8,180,513  

New York City Transitional Finance Authority Future Tax Secured Revenue, RB, Subordinate, 4.00%, 05/01/47

     5,000        4,250,450  

New York City Transitional Finance Authority, RB, Subordinate, 5.00%, 05/01/46

     2,480        2,512,277  

New York Counties Tobacco Trust IV, Refunding RB, Series A, 6.25%, 06/01/41(c)

    3,300        3,299,898  

New York Liberty Development Corp., Refunding RB(c)

    

Class 1, 5.00%, 11/15/44

     8,145        7,268,266  

Class 2, 5.38%, 11/15/40

     1,760        1,626,744  

New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/55

     2,765        2,246,137  

New York State Dormitory Authority, RB, Series A, 4.00%, 03/15/47

     1,575        1,319,081  
 

 

 

3  

    

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

      Value  

New York (continued)

     

New York State Dormitory Authority, Refunding RB

     

Series A, 4.00%, 03/15/44

   $ 2,270      $ 1,961,815  

Series A, 4.00%, 03/15/47

     7,890        6,747,041  

Series A, 4.00%, 03/15/48

     1,395        1,184,754  

Series A-1, 5.00%, 03/15/45

     5,610        5,688,964  

Series D, 4.00%, 02/15/47

     4,730        4,046,785  

New York State Urban Development Corp., RB, Series A, 4.00%, 03/15/49

     1,870        1,567,074  

New York State Urban Development Corp., Refunding RB, 4.00%, 03/15/49

     6,675        5,592,517  

New York Transportation Development Corp., ARB, Series A, AMT, 5.00%, 07/01/46

     1,525        1,405,677  

New York Transportation Development Corp., RB
5.63%, 04/01/40(b)

    965        954,888  

AMT, 5.00%, 10/01/35

     2,230        2,128,096  

Triborough Bridge & Tunnel Authority Sales Tax Revenue, RB
5.00%, 11/15/46

     8,760        8,726,622  

Series A, 5.25%, 05/15/52

     1,625        1,658,061  

Series A, 4.13%, 05/15/53

     3,275        2,767,019  

Triborough Bridge & Tunnel Authority, RB, Series A, 5.00%, 11/15/56

     2,230        2,178,507  

Triborough Bridge & Tunnel Authority, Refunding RB, Series C, 5.25%, 11/15/40

     1,640        1,727,352  
    

 

 

  
           96,116,332  
Ohio — 5.7%             

Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, 5.00%, 06/01/55

         6,655        5,441,804  

County of Allen Ohio Hospital Facilities Revenue, Refunding RB, Series A, 4.00%, 11/01/44

     4,160        3,473,437  

County of Franklin Ohio, RB
Series A, 4.00%, 12/01/44

     1,060        902,272  

Series A, 5.00%, 12/01/47

     840        815,879  

County of Hamilton Ohio, RB
Series A, 5.00%, 08/15/42

     4,350        4,213,115  

Series CC, 5.00%, 11/15/49

     1,130        1,090,633  

County of Hamilton Ohio, Refunding RB
4.00%, 08/15/50

     1,245        1,004,966  

Series A, 3.75%, 08/15/50

     2,190        1,681,262  

Northeast Ohio Regional Sewer District, Refunding RB, 4.00%, 11/15/43

     8,435        7,368,921  

Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(c)

    545        434,423  

State of Ohio, RB, AMT, 5.00%, 06/30/53

     1,685        1,515,626  
    

 

 

  
       27,942,338  
Oklahoma — 1.4%             

Oklahoma Turnpike Authority, RB
5.50%, 01/01/53

     3,140        3,294,476  

Series A, 4.00%, 01/01/48

     4,320        3,673,500  
    

 

 

  
       6,967,976  
Oregon — 0.8%             

Port of Portland Oregon Airport Revenue, Refunding ARB, 29th Series, AMT, 5.50%, 07/01/48

     3,725        3,784,455  
    

 

 

  
Pennsylvania — 5.3%             

Allegheny County Airport Authority, ARB, Series A, AMT, (AGM-CR), 4.00%, 01/01/56

     1,275        980,930  
Security  

Par

(000)

      Value  

Pennsylvania (continued)

     

Commonwealth Financing Authority, RB, (AGM), 4.00%, 06/01/39

   $ 6,325      $ 5,670,872  

Montgomery County Higher Education and Health Authority, Refunding RB
4.00%, 09/01/51

     1,115        871,419  

5.00%, 09/01/48

     740        692,303  

Series A, 4.00%, 09/01/49

     1,185        934,514  

Pennsylvania Economic Development Financing Authority, RB, AMT, 5.00%, 06/30/42

     1,765        1,622,017  

Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, 5.50%, 11/01/44

     3,210        2,876,689  

Pennsylvania Housing Finance Agency, RB, S/F Housing, Series 142-A, 5.00%, 10/01/43

     3,105        3,073,885  

Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, Refunding RB, Series B, 4.00%, 12/01/53

     2,290        1,824,570  

Pennsylvania Turnpike Commission, RB
Series A, 5.00%, 12/01/44

     2,305        2,283,922  

Series A, Subordinate, (BAM-TCRS), 4.00%, 12/01/50

     1,550        1,281,033  

Pennsylvania Turnpike Commission, Refunding RB, Series C, 4.00%, 12/01/51

     4,515        3,667,676  
    

 

 

  
           25,779,830  
Puerto Rico — 5.5%             

Commonwealth of Puerto Rico, GO

     

Series A-1, Restructured, 5.63%, 07/01/29

         2,931        2,994,570  

Series A-1, Restructured, 5.75%, 07/01/31

     2,646        2,719,981  

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

     

Series A-1, Restructured, 4.75%, 07/01/53

     3,817        3,219,859  

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

     12,161        10,539,129  

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

     6,236        5,221,150  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(d)

    9,662        2,388,335  
    

 

 

  
       27,083,024  
Rhode Island — 0.2%             

Central Falls Detention Facility Corp., Refunding RB, 7.25%, 07/15/35(f)(g)

    4,155        747,900  
    

 

 

  
South Carolina — 3.3%             

South Carolina Jobs-Economic Development Authority, Refunding RB
4.00%, 12/01/44

     3,835        3,198,194  

Series A, 5.00%, 05/01/48

     3,030        2,873,564  

South Carolina Ports Authority, ARB

     

AMT, 5.00%, 07/01/43

     4,500        4,277,470  

Series B, AMT, 4.00%, 07/01/49

     1,330        1,034,857  

South Carolina Public Service Authority, Refunding RB, Series A, 5.00%, 12/01/50

     5,000        4,734,321  
    

 

 

  
       16,118,406  
Tennessee — 2.6%             

Memphis-Shelby County Airport Authority, ARB, Series A, AMT, 5.00%, 07/01/45

     2,665        2,556,702  

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, Series A, 5.00%, 07/01/40

     1,440        1,427,539  
 

 

 

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)

October 31, 2023

   

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

      Value  

Tennessee (continued)

     

Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Refunding RB, 5.25%, 10/01/58

   $ 1,505      $ 1,360,362  

Tennessee Energy Acquisition Corp., Refunding RB, Series A-1, 5.00%, 05/01/53(a)

    7,270        7,192,841  
    

 

 

  
       12,537,444  
Texas — 14.4%             

Arlington Higher Education Finance Corp., RB(c)
7.50%, 04/01/62

     885        774,301  

7.88%, 11/01/62

     755        710,815  

Austin Independent School District, GO, 4.00%, 08/01/48

     1,500        1,248,929  

City of Austin Texas Airport System Revenue, ARB

     

Series B, AMT, 5.00%, 11/15/44

     5,755        5,489,574  

Series A, RB, 5.00%, 11/15/41

     3,250        3,262,009  

City of Dallas Texas Waterworks & Sewer System Revenue, Refunding RB, Series A, 5.00%, 10/01/41

     1,240        1,246,245  

City of Houston Texas Airport System Revenue, ARB, Series B-1, AMT, 5.00%, 07/15/30

     3,600        3,468,789  

City of Houston Texas Airport System Revenue, Refunding ARB, Series A, AMT, 1st Lien, Subordinate, (AGM), 5.25%, 07/01/48

     3,580        3,501,817  

City of Houston Texas Airport System Revenue, Refunding RB, AMT, 5.00%, 07/01/29

         1,765        1,717,116  

City of San Antonio Texas Electric & Gas Systems Revenue, Refunding RB, 5.00%, 02/01/47

     3,415        3,424,261  

Clifton Higher Education Finance Corp., RB, 6.00%, 08/15/43

     1,525            1,525,206  

County of Harris Texas, Refunding GO, Series A, 4.25%, 09/15/48

     560        484,033  

Crowley Independent School District, GO (PSF), 5.00%, 02/01/48

     515        523,077  

(PSF), 4.25%, 02/01/53

     190        168,249  

Cypress-Fairbanks Independent School District, GO,

     

(PSF), 4.00%, 02/15/48

     1,225        1,049,284  

Denton Independent School District, GO, (PSF), 5.00%, 08/15/48

     940        955,462  

Harris County Cultural Education Facilities Finance Corp., RB, Series B, 6.38%, 01/01/33

     40        38,518  

Hutto Independent School District, GO, (PSF), 5.00%, 08/01/48

     60        61,027  

Leander Independent School District, Refunding GO, Series A, (PSF), 5.00%, 08/15/49

     3,255        3,269,022  

Marshall Independent School District, GO, (PSF), 4.00%, 02/15/45

     620        551,334  

North Texas Tollway Authority, RB, Series B, 0.00%, 09/01/31(d)(h)

    4,110        1,906,728  

North Texas Tollway Authority, Refunding RB, Series B, 5.00%, 01/01/43

     6,205        6,213,896  

Northwest Independent School District, GO, (PSF), 5.00%, 02/15/48

     1,190        1,205,229  

Plano Independent School District, GO, 5.00%, 02/15/42

     1,540        1,584,540  

Princeton Independent School District, GO, (PSF), 5.25%, 02/15/48

     865        893,798  

San Antonio Public Facilities Corp., Refunding RB, Convertible, 4.00%, 09/15/42

     5,700        4,819,436  
Security  

Par

(000)

      Value  

Texas (continued)

     

Tarrant County Cultural Education Facilities Finance Corp., RB

     

Series A, 4.00%, 07/01/53

   $ 1,280      $ 993,100  

Series A, 5.00%, 07/01/53

     1,570        1,489,273  

Series B, 5.00%, 07/01/43

     4,080        3,967,701  

Series B, 5.00%, 07/01/48

     5,505        5,291,940  

Texas Private Activity Bond Surface Transportation Corp., RB, AMT, 5.00%, 06/30/58

     2,435        2,219,031  

Texas Water Development Board, RB, 4.00%, 10/15/45

     2,735        2,386,325  

Waller Consolidated Independent School District, GO, (BAM), 4.00%, 02/15/48

     5,000        4,018,411  
    

 

 

  
       70,458,476  
Utah — 0.4%             

City of Salt Lake City Utah Airport Revenue, ARB, Series A, AMT, 5.00%, 07/01/48

     1,845        1,745,146  
    

 

 

  
Virginia — 1.0%             

Hampton Roads Transportation Accountability Commission, RB

     

Series A, Senior Lien, 4.00%, 07/01/50

     1,115        913,935  

Series A, Senior Lien, 4.00%, 07/01/55

     4,950        4,074,185  
    

 

 

  
       4,988,120  
Washington — 0.9%             

Port of Seattle Washington, ARB

     

Series A, AMT, 5.00%, 05/01/43

     3,120        2,996,394  

Series C, AMT, 5.00%, 04/01/40

     1,565        1,487,515  
    

 

 

  
       4,483,909  
Wisconsin — 0.3%             

Public Finance Authority, RB(c)

    

Series A, 5.00%, 07/15/39

     190        166,950  

Series A, 5.00%, 07/15/49

     720        596,954  

Wisconsin Housing & Economic Development Authority Home Ownership Revenue, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.85%, 09/01/43

     700        671,149  
    

 

 

  
       1,435,053  
    

 

 

  

Total Municipal Bonds — 141.0%
(Cost: $733,323,008)

            688,666,352  
    

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(i)

 

Alabama — 1.9%             

Southeast Energy Authority A Cooperative District, RB, Series A, 5.25%, 01/01/54(a)

    9,350        9,327,664  
    

 

 

  
District of Columbia — 1.8%             

District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2, 4.10%, 09/01/39

     10,265        8,817,172  
    

 

 

  
Florida — 2.0%             

City of Tampa Florida Water & Wastewater System Revenue, RB, Series A, 5.00%, 10/01/52

         10,000        10,102,470  
    

 

 

  
Nebraska — 2.5%             

Omaha Public Power District, RB, Series A, 5.00%, 02/01/46

     11,970        12,126,948  
    

 

 

  
 

 

 

5  

    

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

      Value  

New York — 4.6%

     

Hudson Yards Infrastructure Corp., Refunding RB, Series A, 5.00%, 02/15/42

   $ 12,550      $ 12,471,735  

New York State Urban Development Corp., RB, Series A, 5.00%, 03/15/50

     10,000        10,000,653  
    

 

 

  
       22,472,388  
Washington — 2.1%             

State of Washington, GO, Series 2024-A, 5.00%, 08/01/48

     10,000        10,142,177  
    

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 14.9%
(Cost: $75,362,059)

 

      72,988,819  
    

 

 

  

Total Long-Term Investments — 155.9%
(Cost: $808,685,067)

 

      761,655,171  
    

 

 

  
     Shares          

Short-Term Securities

     
Money Market Funds — 5.0%             

BlackRock Liquidity Funds, MuniCash, Institutional Class, 3.82%(j)(k)

    24,512,867        24,512,867  
    

 

 

  

Total Short-Term Securities — 5.0%
(Cost: $24,512,762)

 

      24,512,867  
    

 

 

  

Total Investments — 160.9%
(Cost: $833,197,829)

        786,168,038  

Liabilities in Excess of Other Assets — (0.8)%

        (3,796,816 ) 

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (8.7)%

 

      (42,625,280 ) 

VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (51.4)%

 

      (251,124,258 ) 
    

 

 

  

Net Assets Applicable to Common Shares — 100.0%

      $ 488,621,684  
    

 

 

  

 

(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) 

When-issued security.

(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) 

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) 

Issuer filed for bankruptcy and/or is in default.

(g) 

Non-income producing security.

(h) 

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.

(i) 

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.

(j) 

Affiliate of the Fund.

(k) 

Annualized 7-day yield as of period end.

 

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.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

                   
Affiliated Issuer   Value at
07/31/23		      Purchases
at Cost		      Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Appreciation
(Depreciation)		      Value at
10/31/23		      Shares
Held at
10/31/23		      Income      Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, MuniCash, Institutional Class

   $ 25,211,856      $ —      $ (699,026 )(a)    $ (645 )    $ 682      $ 24,512,867        24,512,867      $ 101,748      $ —  
         

 

 

    

 

 

     

 

 

        

 

 

     

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 

 

 

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)

October 31, 2023

   

BlackRock MuniYield Fund, Inc. (MYD)

 

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

      143          12/19/23        $ 15,162        $ 23,847  

U.S. Long Bond

      188          12/19/23          20,480          98,624  

5-Year U.S. Treasury Note

      109          12/29/23          11,385          (7,980 ) 
                 

 

 

  
                  $ 114,491  
                 

 

 

  

Fair Value Hierarchy as of Period End

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

 

  •  

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

 

  •  

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

 

  •  

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).

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

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

                                                                                       

 

  
     Level 1        Level 2        Level 3        Total  

 

  

Assets

                  

Investments

                  

Long-Term Investments

                  

Municipal Bonds

    $ —        $ 688,666,352        $ —        $ 688,666,352  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —          72,988,819          —          72,988,819  

Short-Term Securities

                  

Money Market Funds

      24,512,867          —          —          24,512,867  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 24,512,867        $ 761,655,171        $ —        $ 786,168,038  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(a)

                  

Assets

                  

Interest Rate Contracts

    $ 122,471        $ —        $ —        $ 122,471  

Liabilities

                  

Interest Rate Contracts

      (7,980 )         —          —          (7,980 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 114,491        $ —        $ —        $ 114,491  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

 

 

7  

    

Schedule of Investments (unaudited) (continued)

October 31, 2023

   

BlackRock MuniYield Fund, Inc. (MYD)

 

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

    $ —        $ (42,534,993 )       $ —        $ (42,534,993 ) 

VRDP Shares at Liquidation Value

      —          (251,400,000 )         —          (251,400,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ —        $ (293,934,993 )       $ —        $ (293,934,993 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviation

AGC   Assured Guaranty Corp.
AGM   Assured Guaranty Municipal Corp.
AGM-CR   AGM Insured Custodial Receipt
AMBAC   AMBAC Assurance Corp.
AMT   Alternative Minimum Tax
ARB   Airport Revenue Bonds
BAB   Build America Bond
BAM   Build America Mutual Assurance Co.
BAM-TCRS   Build America Mutual Assurance Co.- Transferable
    Custodial Receipts
CAB   Capital Appreciation Bonds
CR   Custodian Receipt
FHLMC   Federal Home Loan Mortgage Corp.
FNMA   Federal National Mortgage Association
GNMA   Government National Mortgage Association
GO   General Obligation Bonds
M/F   Multi-Family
PSF   Permanent School Fund
RB   Revenue Bond
S/F   Single-Family
SAB   Special Assessment Bonds
TA   Tax Allocation

 

 

S C H E D U L E   O F   I N V E S T M E N T S

   8
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