BlackRock MuniVest Fund, 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: 811-05611
Name of Fund: BlackRock MuniVest Fund, Inc. (MVF)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniVest Fund, 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: 08/31/2018
Date of reporting period: 05/31/2018
Item 1 – Schedule of Investments
|
|
|
| Schedule of Investments (unaudited)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds — 119.3% |
|
|
| Alabama — 1.9% |
|
| City of Selma Alabama IDB, RB, Gulf Opportunity Zone, International Paper Co. Project,
Series A: |
|
|
|
|
|
|
|
|
| 5.80%, 05/01/34 |
|
$ |
1,850 |
|
|
$ |
1,984,551 |
|
| 5.38%, 12/01/35 |
|
|
1,000 |
|
|
|
1,106,860 |
|
| State of Alabama Docks Department, Refunding RB, 6.00%, 10/01/20(a) |
|
|
7,610 |
|
|
|
8,305,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,396,584 |
|
| Alaska — 0.5% |
|
| City of Anchorage Alaska Electric Revenue, Refunding RB, Series A, 5.00%, 12/01/41 |
|
|
3,000 |
|
|
|
3,321,690 |
|
|
|
|
|
|
|
|
|
|
| Arizona — 4.0% |
|
| Arizona IDA, Refunding RB, Basis Schools, Inc. Projects, Series A, 5.38%, 07/01/50(b) |
|
|
2,500 |
|
|
|
2,619,050 |
|
| City of Phoenix Arizona Civic Improvement Corp., Refunding RB, Junior Lien, Series A, 5.00%, 07/01/20(a) |
|
|
2,000 |
|
|
|
2,128,900 |
|
| City of Phoenix Arizona IDA, RB, Candeo School, Inc. Project: |
|
|
|
|
|
|
|
|
| 6.63%, 07/01/33 |
|
|
2,245 |
|
|
|
2,508,810 |
|
| 6.88%, 07/01/44 |
|
|
3,440 |
|
|
|
3,815,098 |
|
| City of Phoenix Arizona IDA, Refunding RB(b): |
|
|
|
|
|
|
|
|
| Basis Schools, Inc. Projects, 5.00%, 07/01/35 |
|
|
600 |
|
|
|
620,928 |
|
| Basis Schools, Inc. Projects, 5.00%, 07/01/45 |
|
|
760 |
|
|
|
780,467 |
|
| Basis Schools, Inc. Projects, Series A, 5.00%, 07/01/35 |
|
|
1,125 |
|
|
|
1,164,240 |
|
| Legacy Traditional School Projects, 5.00%, 07/01/45 |
|
|
700 |
|
|
|
718,417 |
|
| County of Maricopa Arizona Pollution Control Corp., Refunding RB, Southern California Edison Co., Series A,
5.00%, 06/01/35 |
|
|
3,300 |
|
|
|
3,466,551 |
|
| Salt Verde Financial Corp., RB, Senior, 5.00%, 12/01/37 |
|
|
5,725 |
|
|
|
6,840,745 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,663,206 |
|
| California — 6.2% |
|
| California Health Facilities Financing Authority, RB: |
|
|
|
|
|
|
|
|
| St. Joseph Health System, Series A, 5.75%, 07/01/39 |
|
|
5,000 |
|
|
|
5,218,000 |
|
| Sutter Health, Series B, 6.00%, 08/15/20(a) |
|
|
5,600 |
|
|
|
6,123,376 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| California (continued) |
|
| California Health Facilities Financing Authority, Refunding RB, Dignity Health, Series A,
6.00%, 07/01/19(a) |
|
$ |
1,055 |
|
|
$ |
1,105,893 |
|
| City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport,
Series A, 5.25%, 05/15/39 |
|
|
1,200 |
|
|
|
1,239,048 |
|
| Los Angeles Community College District California, GO, Refunding, Election of 2008, Series A, 6.00%, 08/01/19(a) |
|
|
9,585 |
|
|
|
10,081,695 |
|
| Oakland Unified School District/Alameda County, GO, Series A, 5.00%, 08/01/40 |
|
|
1,000 |
|
|
|
1,135,520 |
|
| Poway Unified School District, GO, Refunding, CAB, School Facilities Improvement District No. 2007-1, Election of 2008, Series B, 0.00%, 08/01/46(c) |
|
|
10,000 |
|
|
|
3,161,200 |
|
| State of California, GO, Various Purposes: |
|
|
|
|
|
|
|
|
| 6.50%, 04/01/19(a) |
|
|
5,240 |
|
|
|
5,456,098 |
|
| 6.50%, 04/01/33 |
|
|
4,435 |
|
|
|
4,610,759 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
38,131,589 |
|
| Colorado — 0.9% |
|
| Centerra Metropolitan District No. 1, Tax Allocation Bonds, 5.00%, 12/01/47(b) |
|
|
1,025 |
|
|
|
1,046,812 |
|
| Colorado Health Facilities Authority, RB, Catholic Health Initiatives, Series D,
6.25%, 10/01/33 |
|
|
2,500 |
|
|
|
2,539,850 |
|
| Copperleaf Metropolitan District No. 2, GO, Refunding, 5.75%, 12/01/45 |
|
|
1,000 |
|
|
|
1,051,290 |
|
| Serenity Ridge Metropolitan District No 2, GO, Series A, 5.13%, 12/01/43 |
|
|
1,000 |
|
|
|
1,025,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,663,202 |
|
| Connecticut — 1.0% |
|
| State of Connecticut, GO, Series A, 5.00%, 04/15/38 |
|
|
3,325 |
|
|
|
3,693,876 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Connecticut (continued) |
|
| State of Connecticut Health & Educational Facility Authority, Refunding RB, Sacred Heart University
Issue, Series I-1, 5.00%, 07/01/42 |
|
$ |
2,000 |
|
|
$ |
2,259,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,953,576 |
|
| Delaware — 0.4% |
|
| County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Power LLC Project,
6.00%, 10/01/40 |
|
|
2,500 |
|
|
|
2,641,875 |
|
|
|
|
|
|
|
|
|
|
| District of Columbia — 0.2% |
|
| Metropolitan Washington Airports Authority, Refunding RB, Dulles Toll Road, 1st Senior Lien, Series
A: |
|
|
|
|
|
|
|
|
| 5.00%, 10/01/39 |
|
|
415 |
|
|
|
429,305 |
|
| 5.25%, 10/01/44 |
|
|
650 |
|
|
|
674,252 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,103,557 |
|
| Florida — 5.7% |
|
| Celebration Pointe Community Development District, Special Assessment Bonds, County of Alachua Florida(b): |
|
|
|
|
|
|
|
|
| 5.00%, 05/01/32 |
|
|
905 |
|
|
|
967,735 |
|
| 5.00%, 05/01/48 |
|
|
2,270 |
|
|
|
2,371,106 |
|
| County of Miami-Dade Florida, Refunding RB, Transit System Sales Surtax, 5.00%, 07/01/42 |
|
|
3,750 |
|
|
|
4,067,063 |
|
| County of Miami-Dade Florida Aviation, Refunding ARB, Miami International Airport, Series A-1, 5.38%, 10/01/41 |
|
|
10,290 |
|
|
|
11,028,616 |
|
| County of Miami-Dade Florida Educational Facilities Authority, Refunding RB, University of Miami, Series A,
5.00%, 04/01/45 |
|
|
4,625 |
|
|
|
5,116,637 |
|
| County of Miami-Dade Florida Expressway Authority, Refunding RB, Series A (AGM), 5.00%, 07/01/35 |
|
|
8,900 |
|
|
|
9,410,059 |
|
| Lakewood Ranch Stewardship District, Special Assessment Bonds, Lakewood National & Polo Run
Projects: |
|
|
|
|
|
|
|
|
| 4.63%, 05/01/27 |
|
|
255 |
|
|
|
263,706 |
|
| 5.25%, 05/01/37 |
|
|
470 |
|
|
|
499,873 |
|
| 5.38%, 05/01/47 |
|
|
770 |
|
|
|
817,809 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
34,542,604 |
|
| Georgia — 0.8% |
|
| City of Atlanta Georgia Department of Aviation, Refunding GARB, Series B, AMT, 5.00%, 01/01/29 |
|
|
1,070 |
|
|
|
1,140,984 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Georgia (continued) |
|
| DeKalb Georgia Private Hospital Authority, Refunding RB, Children’s Healthcare, 5.25%, 11/15/39 |
|
$ |
3,335 |
|
|
$ |
3,479,072 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,620,056 |
|
| Hawaii — 0.9% |
|
| State of Hawaii Harbor System, RB, Series A,
5.50%, 07/01/35 |
|
|
5,000 |
|
|
|
5,338,050 |
|
|
|
|
|
|
|
|
|
|
| Illinois — 12.3% |
|
| Chicago Board of Education, GO, Series H,
5.00%, 12/01/36 |
|
|
865 |
|
|
|
888,684 |
|
| Chicago Board of Education, GO, Refunding, Dedicated Revenues: |
|
|
|
|
|
|
|
|
| Series D, 5.00%, 12/01/25 |
|
|
1,560 |
|
|
|
1,623,227 |
|
| Series F, 5.00%, 12/01/23 |
|
|
1,180 |
|
|
|
1,232,923 |
|
| Series G, 5.00%, 12/01/34 |
|
|
865 |
|
|
|
886,686 |
|
| City of Chicago Illinois O’Hare International Airport, GARB, Senior Lien, Series D, AMT,
5.00%, 01/01/42 |
|
|
1,450 |
|
|
|
1,596,334 |
|
| City of Chicago Illinois Transit Authority, RB, Sales Tax Receipts, 5.25%, 12/01/36 |
|
|
2,110 |
|
|
|
2,265,549 |
|
| City of Chicago Illinois Wastewater Transmission, Refunding RB, 2nd Lien, Series C,
5.00%, 01/01/39 |
|
|
1,000 |
|
|
|
1,074,630 |
|
| County of Cook Illinois Community College District No. 508, GO, University & College
Improvements, 5.25%, 12/01/31 |
|
|
5,000 |
|
|
|
5,282,700 |
|
| Illinois Finance Authority, RB: |
|
|
|
|
|
|
|
|
| Advocate Health Care Network, Series D,
6.50%, 11/01/18(a) |
|
|
9,700 |
|
|
|
9,887,598 |
|
| Memorial Health System, Series A, 5.25%, 07/01/44 |
|
|
1,785 |
|
|
|
1,930,781 |
|
| Illinois Finance Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Northwestern Memorial Hospital, Series A,
6.00%, 08/15/19(a) |
|
|
9,000 |
|
|
|
9,455,310 |
|
| OSF Healthcare System, 6.00%, 05/15/20(a) |
|
|
3,205 |
|
|
|
3,451,144 |
|
| OSF Healthcare System, 6.00%, 05/15/39 |
|
|
1,000 |
|
|
|
1,065,760 |
|
| Presence Health Network, Series C, 5.00%, 02/15/41 |
|
|
3,600 |
|
|
|
4,076,712 |
|
| Illinois State Toll Highway Authority, RB, Series A,
5.00%, 01/01/42 |
|
|
7,990 |
|
|
|
9,132,410 |
|
| Metropolitan Pier & Exposition Authority, RB, McCormick Place Expansion Project Bonds,
Series A: |
|
|
|
|
|
|
|
|
| 0.00%, 12/15/56(c) |
|
|
8,755 |
|
|
|
1,241,284 |
|
| 5.00%, 06/15/57 |
|
|
425 |
|
|
|
446,696 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Illinois (continued) |
|
| Metropolitan Pier & Exposition Authority, Refunding RB, McCormick Place Expansion Project Bonds,
Series B, 0.00%, 12/15/54(c) |
|
$ |
12,215 |
|
|
$ |
1,923,985 |
|
| Railsplitter Tobacco Settlement Authority, RB, 6.00%,
06/01/21(a) |
|
|
2,645 |
|
|
|
2,949,942 |
|
| Regional Transportation Authority, RB: |
|
|
|
|
|
|
|
|
| Series A (AMBAC), 7.20%, 11/01/20 |
|
|
1,235 |
|
|
|
1,325,365 |
|
| Series C (NPFGC), 7.75%, 06/01/20 |
|
|
1,545 |
|
|
|
1,635,691 |
|
| State of Illinois, GO, Series D, 5.00%, 11/01/28 |
|
|
1,965 |
|
|
|
2,097,087 |
|
| Village of Hodgkins Illinois, RB, Metropolitan Biosolids Management LLC Project, AMT, 6.00%,
11/01/23 |
|
|
10,000 |
|
|
|
10,012,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75,483,298 |
|
| Indiana — 1.7% |
|
| City of Valparaiso Indiana, RB, Exempt Facilities, Pratt Paper LLC Project, AMT, 6.75%, 01/01/34 |
|
|
2,250 |
|
|
|
2,639,768 |
|
| County of Allen Indiana, RB, StoryPoint Fort Wayne Project, Series
A-1(b): |
|
|
|
|
|
|
|
|
| 6.63%, 01/15/34 |
|
|
700 |
|
|
|
750,428 |
|
| 6.75%, 01/15/43 |
|
|
570 |
|
|
|
611,051 |
|
| State of Indiana Finance Authority, RB, Private Activity Bond, Ohio River Bridges, Series A, AMT, 5.00%,
07/01/40 |
|
|
2,640 |
|
|
|
2,828,945 |
|
| State of Indiana Finance Authority, Refunding RB, Deaconess Health System, Series A,
5.00%, 03/01/39 |
|
|
3,000 |
|
|
|
3,321,150 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,151,342 |
|
| Iowa — 1.0% |
|
| Iowa Finance Authority, Refunding RB, Midwestern Disaster Area, Iowa Fertilizer Co. Project, 5.25%,
12/01/25 |
|
|
4,500 |
|
|
|
4,813,740 |
|
| Iowa Tobacco Settlement Authority, Refunding RB, Asset-Backed, CAB, Series B, 5.60%, 06/01/34 |
|
|
1,000 |
|
|
|
1,009,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,823,440 |
|
| Kansas — 1.0% |
|
| City of Lenexa Kansas, Refunding RB, Lakeview Village, Inc., Series A, 5.00%, 05/15/43 |
|
|
1,965 |
|
|
|
2,090,249 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Kansas (continued) |
|
| Wyandotte County-Kansas City Unified Government Utility System, RB, Series A, 5.00%, 09/01/40 |
|
$ |
3,700 |
|
|
$ |
4,134,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,225,147 |
|
| Kentucky — 2.7% |
|
| County of Owen Kentucky, RB, Kentucky American Water Co. Project, Series B, 5.63%, 09/01/39 |
|
|
1,000 |
|
|
|
1,043,320 |
|
| Kentucky Economic Development Finance Authority, Refunding RB, Hospital Facilities, St. Elizabeth Medical
Center, Inc., Series A, 5.50%, 05/01/19(a) |
|
|
8,000 |
|
|
|
8,267,600 |
|
| Lexington-Fayette Urban County Airport Board, Refunding GARB, Series A, 5.00%, 07/01/19(a) |
|
|
7,000 |
|
|
|
7,244,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,555,850 |
|
| Louisiana — 3.3% |
|
| Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Westlake
Chemical Corp. Project, Series A-1, 6.50%, 11/01/35 |
|
|
2,615 |
|
|
|
2,877,284 |
|
| Parish of St. Charles Louisiana, RB, Valero Energy Corp., 4.00%, 12/01/40(d) |
|
|
2,210 |
|
|
|
2,341,230 |
|
| Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, Series A: |
|
|
|
|
|
|
|
|
| 5.25%, 05/15/31 |
|
|
3,420 |
|
|
|
3,681,527 |
|
| 5.25%, 05/15/32 |
|
|
4,375 |
|
|
|
4,765,994 |
|
| 5.25%, 05/15/33 |
|
|
4,750 |
|
|
|
5,135,795 |
|
| 5.25%, 05/15/35 |
|
|
1,500 |
|
|
|
1,624,140 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,425,970 |
|
| Maine — 1.0% |
|
| Maine Health & Higher Educational Facilities Authority, RB, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 07/01/19(a) |
|
|
1,560 |
|
|
|
1,612,884 |
|
| 5.00%, 07/01/39 |
|
|
3,440 |
|
|
|
3,535,770 |
|
| Portland Housing Development Corp., Refunding RB, Senior Living, Retirement Facilities, Series A,
6.00%, 02/01/34 |
|
|
1,190 |
|
|
|
1,191,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,340,296 |
|
| Maryland — 3.2% |
|
| City of Baltimore Maryland, Refunding RB, East Baltimore Research Park, Series A,
4.50%, 09/01/33 |
|
|
545 |
|
|
|
567,994 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Maryland (continued) |
|
| County of Howard Maryland Housing Commission, RB, M/F Housing, Woodfield Oxford Square Apartments, 5.00%,
12/01/42 |
|
$ |
4,935 |
|
|
$ |
5,553,898 |
|
| Maryland Health & Higher Educational Facilities Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Charlestown Community Project,
6.25%, 01/01/21(a) |
|
|
2,000 |
|
|
|
2,206,420 |
|
| Meritus Medical Center Issue, 5.00%, 07/01/40 |
|
|
6,350 |
|
|
|
6,830,885 |
|
| University of Maryland Medical System,
5.00%, 07/01/19(a) |
|
|
1,990 |
|
|
|
2,057,461 |
|
| University of Maryland Medical System,
5.13%, 07/01/19(a) |
|
|
2,100 |
|
|
|
2,173,983 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,390,641 |
|
| Massachusetts — 2.1% |
|
| Massachusetts Bay Transportation Authority, Refunding RB, General Transportation System, Series A,
7.00%, 03/01/19 |
|
|
370 |
|
|
|
384,574 |
|
| Massachusetts Development Finance Agency, RB, Emerson College Issue, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 01/01/47 |
|
|
845 |
|
|
|
923,112 |
|
| 5.25%, 01/01/42 |
|
|
1,895 |
|
|
|
2,112,034 |
|
| Massachusetts Development Finance Agency, Refunding RB, Emerson College, Series A, 5.00%, 01/01/40 |
|
|
2,180 |
|
|
|
2,412,257 |
|
| Massachusetts HFA, Refunding RB, Series C, AMT, 5.35%, 12/01/42 |
|
|
2,610 |
|
|
|
2,653,509 |
|
| Massachusetts Water Resources Authority, RB, Series A, 6.50%, 07/15/19(e) |
|
|
3,965 |
|
|
|
4,031,097 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,516,583 |
|
| Michigan — 1.1% |
|
| City of Detroit Michigan Water Supply System Revenue, RB, 2nd Lien, Series B (AGM), 6.25%, 07/01/19(a) |
|
|
2,495 |
|
|
|
2,612,639 |
|
| Royal Oak Hospital Finance Authority Michigan, Refunding RB, William Beaumont Hospital, Series V,
8.25%, 09/01/18(a) |
|
|
4,100 |
|
|
|
4,165,395 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,778,034 |
|
| Minnesota — 0.7% |
|
| City of Cologne Minnesota Charter School, LRB, Cologne Academy Project, Series A,
5.00%, 07/01/45 |
|
|
1,500 |
|
|
|
1,510,095 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Minnesota (continued) |
|
| County of St. Paul Minnesota Housing & Redevelopment Authority, Refunding RB, Fairview Health
Services, Series A, 4.00%, 11/15/43 |
|
$ |
1,940 |
|
|
$ |
2,011,101 |
|
| Housing & Redevelopment Authority of The City of Saint Paul Minnesota, RB, Great River School
Project, Series A, 5.50%, 07/01/52(b) |
|
|
695 |
|
|
|
716,496 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,237,692 |
|
| Mississippi — 4.6% |
|
| County of Lowndes Mississippi, Refunding RB, Solid Waste Disposal & Pollution Control, Weyerhaeuser
Co. Project: |
|
|
|
|
|
|
|
|
| Series A, 6.80%, 04/01/22 |
|
|
9,160 |
|
|
|
10,429,851 |
|
| Series B, 6.70%, 04/01/22 |
|
|
4,500 |
|
|
|
5,107,635 |
|
| Mississippi Business Finance Corp., Refunding RB, System Energy Resource, Inc. Project,
5.88%, 04/01/22 |
|
|
9,305 |
|
|
|
9,323,796 |
|
| Mississippi Development Bank, Refunding RB, Municipal Energy Agency Of Mississippi, Series A (AGM), 4.00%,
03/01/41 |
|
|
3,000 |
|
|
|
3,082,350 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,943,632 |
|
| Montana — 0.3% |
|
| Montana State Board of Housing, RB, S/F, Series B-2: |
|
|
|
|
|
|
|
|
| 3.38%, 12/01/37 |
|
|
835 |
|
|
|
832,044 |
|
| 3.50%, 12/01/42 |
|
|
355 |
|
|
|
356,296 |
|
| 3.60%, 12/01/47 |
|
|
550 |
|
|
|
552,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,740,342 |
|
| Nebraska — 1.1% |
|
| Central Plains Nebraska Energy Project, RB, Gas Project No. 3, 5.00%, 09/01/42 |
|
|
6,200 |
|
|
|
6,780,630 |
|
|
|
|
|
|
|
|
|
|
| Nevada — 1.3% |
|
| City of Carson City Nevada, Refunding RB, Carson Tahoe Regional Healthcare Project,
5.00%, 09/01/42 |
|
|
1,150 |
|
|
|
1,265,104 |
|
| County of Clark Nevada, GO, Stadium Improvement, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 06/01/36 |
|
|
4,080 |
|
|
|
4,799,222 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Nevada (continued) |
|
| 5.00%, 06/01/37 |
|
$ |
1,500 |
|
|
$ |
1,763,010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,827,336 |
|
| New Jersey — 10.3% |
|
| Casino Reinvestment Development Authority, Refunding RB, 5.25%, 11/01/44 |
|
|
1,400 |
|
|
|
1,497,202 |
|
| New Jersey EDA, RB: |
|
|
|
|
|
|
|
|
| Continental Airlines, Inc. Project, Series A, AMT, 5.63%, 11/15/30 |
|
|
1,530 |
|
|
|
1,734,469 |
|
| Goethals Bridge Replacement Project, AMT, Private Activity Bond, 5.38%, 01/01/43 |
|
|
10,000 |
|
|
|
10,931,300 |
|
| Goethals Bridge Replacement Project, AMT, Private Activity Bond, 5.13%, 01/01/34 |
|
|
1,050 |
|
|
|
1,146,831 |
|
| School Facilities Construction, Series UU, 5.00%, 06/15/40 |
|
|
3,390 |
|
|
|
3,571,873 |
|
| New Jersey EDA, Refunding RB, School Facilities Construction: |
|
|
|
|
|
|
|
|
| 5.25%, 06/15/19(a) |
|
|
2,650 |
|
|
|
2,744,844 |
|
| Series AA, 5.25%, 06/15/19(a) |
|
|
700 |
|
|
|
725,053 |
|
| Series AA, 5.25%, 12/15/33 |
|
|
6,650 |
|
|
|
6,838,261 |
|
| New Jersey Transportation Trust Fund Authority, RB: |
|
|
|
|
|
|
|
|
| CAB, Transportation System, Series A, 0.00%,
12/15/38(c) |
|
|
7,260 |
|
|
|
2,797,133 |
|
| Transportation Program, Series AA, 5.25%, 06/15/33 |
|
|
8,750 |
|
|
|
9,338,262 |
|
| Transportation Program, Series AA, 5.25%, 06/15/41 |
|
|
780 |
|
|
|
838,734 |
|
| Transportation Program, Series AA, 5.00%, 06/15/44 |
|
|
4,450 |
|
|
|
4,671,699 |
|
| Transportation System, Series B, 5.50%, 06/15/31 |
|
|
8,000 |
|
|
|
8,496,400 |
|
| Tobacco Settlement Financing Corp., Refunding RB: |
|
|
|
|
|
|
|
|
| Series A, 5.25%, 06/01/46 |
|
|
4,050 |
|
|
|
4,552,362 |
|
| Sub-Series B, 5.00%, 06/01/46 |
|
|
3,050 |
|
|
|
3,273,169 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
63,157,592 |
|
| New York — 8.6% |
|
| Build NYC Resource Corp., Refunding RB, Pratt Paper, Inc. Project, AMT, 5.00%, 01/01/35(b) |
|
|
2,145 |
|
|
|
2,312,868 |
|
| City of New York New York, GO,
Sub-Series F-1, 5.00%, 04/01/36 |
|
|
2,070 |
|
|
|
2,419,954 |
|
| City of New York New York Water & Sewer System, Refunding RB, 2nd General Resolution, Series FF-2, 5.50%, 06/15/40 |
|
|
4,150 |
|
|
|
4,304,754 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| New York (continued) |
|
| Erie Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed, Series A, 5.00%, 06/01/45 |
|
$ |
4,435 |
|
|
$ |
4,434,645 |
|
| Metropolitan Transportation Authority, RB, Series C: |
|
|
|
|
|
|
|
|
| 6.25%, 11/15/18(a) |
|
|
2,595 |
|
|
|
2,649,002 |
|
| 6.25%, 11/15/18(a) |
|
|
25 |
|
|
|
25,520 |
|
| 6.50%, 11/15/18(a) |
|
|
11,135 |
|
|
|
11,376,518 |
|
| 6.50%, 11/15/18(a) |
|
|
925 |
|
|
|
945,063 |
|
| 6.25%, 11/15/23 |
|
|
625 |
|
|
|
638,006 |
|
| 6.50%, 11/15/28 |
|
|
2,865 |
|
|
|
2,925,194 |
|
| New York Counties Tobacco Trust IV, Refunding RB, Series A: |
|
|
|
|
|
|
|
|
| Settlement Pass-Through Turbo,
6.25%, 06/01/41(b) |
|
|
3,500 |
|
|
|
3,648,645 |
|
| Tobacco Settlement Pass-Through Bonds, 5.00%, 06/01/38 |
|
|
3,675 |
|
|
|
3,675,000 |
|
| New York Liberty Development Corp., Refunding RB, 3 World Trade Center Project, Class 2(b): |
|
|
|
|
|
|
|
|
| 5.15%, 11/15/34 |
|
|
460 |
|
|
|
504,569 |
|
| 5.38%, 11/15/40 |
|
|
1,145 |
|
|
|
1,258,916 |
|
| New York Transportation Development Corp., Refunding ARB, American Airlines, Inc., AMT, 5.00%,
08/01/31 |
|
|
3,070 |
|
|
|
3,237,469 |
|
| Port Authority of New York & New Jersey, ARB, Special Project, JFK International Air Terminal LLC
Project, Series 8, 6.00%, 12/01/36 |
|
|
3,165 |
|
|
|
3,470,391 |
|
| TSASC, Inc., Refunding RB, Series A, 5.00%, 06/01/41 |
|
|
1,785 |
|
|
|
1,936,939 |
|
| Westchester Tobacco Asset Securitization, Refunding RB, Tobacco Settlement Bonds, Sub-Series C, 5.13%, 06/01/51 |
|
|
2,740 |
|
|
|
2,826,611 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
52,590,064 |
|
| Ohio — 4.2% |
|
| Buckeye Tobacco Settlement Financing Authority, RB, Asset-Backed, Senior Turbo Term, Series A-2: |
|
|
|
|
|
|
|
|
| 5.75%, 06/01/34 |
|
|
950 |
|
|
|
942,115 |
|
| 5.88%, 06/01/47 |
|
|
2,525 |
|
|
|
2,524,924 |
|
| County of Allen Ohio Hospital Facilities Revenue, Refunding RB, Catholic Healthcare Partners, Series A,
5.25%, 06/01/20(a) |
|
|
2,875 |
|
|
|
3,061,789 |
|
| County of Butler Port Authority, RB, StoryPoint Fairfield Project, Series
A-1(b): |
|
|
|
|
|
|
|
|
| 6.38%, 01/15/43 |
|
|
675 |
|
|
|
706,556 |
|
| 6.50%, 01/15/52 |
|
|
390 |
|
|
|
409,083 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Ohio (continued) |
|
| County of Franklin Ohio, RB, Health Care Facilities Improvement, OPRS Communities Obligation Group, Series A,
6.13%, 07/01/40 |
|
$ |
1,690 |
|
|
$ |
1,847,660 |
|
| County of Lucas Ohio, Refunding RB, Promedica Healthcare, Series A, 6.50%, 11/15/21(a) |
|
|
1,915 |
|
|
|
2,194,456 |
|
| County of Montgomery Ohio, RB, Catholic Health Initiatives, Series
D-2, 5.45%, 10/01/38 |
|
|
7,430 |
|
|
|
8,149,447 |
|
| County of Montgomery Ohio, Refunding RB, Catholic Health: |
|
|
|
|
|
|
|
|
| 5.50%, 05/01/19(a) |
|
|
1,910 |
|
|
|
1,973,889 |
|
| Series A, 5.50%, 05/01/34 |
|
|
3,560 |
|
|
|
3,655,871 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,465,790 |
|
| Oklahoma — 1.0% |
|
| Oklahoma Development Finance Authority, RB: |
|
|
|
|
|
|
|
|
| OU Medicine Project, Series B, 5.25%, 08/15/48 |
|
|
2,205 |
|
|
|
2,477,053 |
|
| Provident Oklahoma Education Resources, Inc., Cross Village Student Housing Project, Series A, 5.25%,
08/01/57 |
|
|
3,275 |
|
|
|
3,531,432 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,008,485 |
|
| Pennsylvania — 7.5% |
|
| Allentown Neighborhood Improvement Zone Development Authority, RB, City Center Project, 5.00%, 05/01/42(b) |
|
|
1,725 |
|
|
|
1,851,805 |
|
| Altoona Area School District, GO (BAM): |
|
|
|
|
|
|
|
|
| 5.00%, 12/01/36 |
|
|
365 |
|
|
|
409,446 |
|
| 5.00%, 12/01/42 |
|
|
735 |
|
|
|
819,312 |
|
| County of Delaware Pennsylvania IDA, Refunding RB, Covanta Project, 5.00%, 07/01/43 |
|
|
5,000 |
|
|
|
5,059,700 |
|
| County of Montgomery Higher Education & Health Authority, Refunding RB, Thomas Jeferson University,
Series A, 5.00%, 09/01/48 |
|
|
3,330 |
|
|
|
3,741,388 |
|
| County of Montgomery Pennsylvania IDA, Refunding RB, Whitemarsh Continuing Care Retirement Community, 5.25%,
01/01/40 |
|
|
4,170 |
|
|
|
4,197,439 |
|
| County of Westmoreland Pennsylvania Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/36 |
|
|
4,385 |
|
|
|
5,016,878 |
|
| Pennsylvania Economic Development Financing Authority, RB, PA Bridges Finco LP, 5.00%, 12/31/38 |
|
|
2,565 |
|
|
|
2,814,549 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Pennsylvania (continued) |
|
| Pennsylvania HFA, RB, S/F Housing Mortgage, Series 118-B, 4.05%,
10/01/40 |
|
$ |
3,850 |
|
|
$ |
3,951,525 |
|
| Pennsylvania Housing Finance Agency, RB, S/F, Series 125B, 3.65%, 10/01/42 |
|
|
7,925 |
|
|
|
7,948,458 |
|
| Pennsylvania Turnpike Commission, RB: |
|
|
|
|
|
|
|
|
| Series A-1, 5.00%, 12/01/41 |
|
|
440 |
|
|
|
491,515 |
|
| Sub-Series B-1, 5.25%,
06/01/47 |
|
|
2,130 |
|
|
|
2,415,420 |
|
| Springfield School District, Delaware County,
GO(f): |
|
|
|
|
|
|
|
|
| 5.00%, 03/01/40 |
|
|
2,955 |
|
|
|
3,430,075 |
|
| 5.00%, 03/01/43 |
|
|
3,385 |
|
|
|
3,919,965 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
46,067,475 |
|
| Puerto Rico — 1.1% |
|
| Children’s Trust Fund, Refunding RB, Tobacco Settlement Asset-Backed Bonds: |
|
|
|
|
|
|
|
|
| 5.50%, 05/15/39 |
|
|
3,555 |
|
|
|
3,533,030 |
|
| 5.63%, 05/15/43 |
|
|
3,400 |
|
|
|
3,375,078 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,908,108 |
|
| Rhode Island — 1.5% |
|
| Tobacco Settlement Financing Corp., Refunding RB, Series B: |
|
|
|
|
|
|
|
|
| 4.50%, 06/01/45 |
|
|
6,820 |
|
|
|
6,946,988 |
|
| 5.00%, 06/01/50 |
|
|
2,000 |
|
|
|
2,065,460 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,012,448 |
|
| South Carolina — 1.3% |
|
| State of South Carolina Public Service Authority, RB, Series E, 5.50%, 12/01/53 |
|
|
750 |
|
|
|
812,273 |
|
| State of South Carolina Public Service Authority, Refunding RB, Series E, 5.25%, 12/01/55 |
|
|
6,450 |
|
|
|
7,019,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,831,937 |
|
| Texas — 12.2% |
|
| Central Texas Regional Mobility Authority, RB, Senior Lien, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 01/01/40 |
|
|
1,215 |
|
|
|
1,329,902 |
|
| 5.00%, 01/01/45 |
|
|
3,500 |
|
|
|
3,812,690 |
|
| Central Texas Regional Mobility Authority, Refunding RB, Senior Lien: |
|
|
|
|
|
|
|
|
| 5.75%, 01/01/21(a) |
|
|
1,000 |
|
|
|
1,090,740 |
|
| 6.00%, 01/01/21(a) |
|
|
4,300 |
|
|
|
4,717,014 |
|
| Series A, 5.00%, 01/01/43 |
|
|
6,925 |
|
|
|
7,457,532 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Texas (continued) |
|
| City of Houston Texas Airport System, Refunding ARB, United Airlines, Inc. Terminal E Project, AMT, 5.00%,
07/01/29 |
|
$ |
2,665 |
|
|
$ |
2,895,656 |
|
| County of Harris Texas Cultural Education Facilities Finance Corp., RB, 1st Mortgage, Brazos Presbyterian
Homes, Inc. Project, Series B, 7.00%, 01/01/23(a) |
|
|
850 |
|
|
|
1,026,222 |
|
| County of Harris Texas Health Facilities Development Corp., Refunding RB, Memorial Hermann Healthcare System,
Series B(a): |
|
|
|
|
|
|
|
|
| 7.13%, 12/01/18 |
|
|
3,500 |
|
|
|
3,593,625 |
|
| 7.25%, 12/01/18 |
|
|
5,400 |
|
|
|
5,547,744 |
|
| County of Tarrant Texas Cultural Education Facilities Finance Corp., RB, Scott & White Healthcare,
6.00%, 08/15/20(a) |
|
|
4,630 |
|
|
|
5,037,533 |
|
| County of Tarrant Texas Cultural Education Facilities Finance Corp., Refunding RB, Trinity Terrace Project,
5.00%, 10/01/44 |
|
|
3,500 |
|
|
|
3,709,755 |
|
| La Vernia Higher Education Finance Corp., RB, KIPP, Inc., Series A, 6.25%, 08/15/19(a) |
|
|
925 |
|
|
|
972,832 |
|
| Love Field Airport Modernization Corp., RB, Southwest Airlines Co. Project, 5.25%, 11/01/40 |
|
|
1,100 |
|
|
|
1,174,514 |
|
| New Hope Cultural Education Facilities Corp., RB, Collegiate Housing Tarleton State University Project,
5.00%, 04/01/35 |
|
|
500 |
|
|
|
541,245 |
|
| New Hope Cultural Education Facilities Corp., Refunding RB, 1st Mortgage, Morningside Ministries Project,
6.25%, 01/01/33 |
|
|
1,600 |
|
|
|
1,777,328 |
|
| North Texas Education Finance Corp., ERB, Uplift Education, Series A, 5.13%, 12/01/42 |
|
|
1,000 |
|
|
|
1,048,270 |
|
| North Texas Tollway Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| 1st Tier System, Series A, 6.25%, 01/01/19(a) |
|
|
2,845 |
|
|
|
2,918,885 |
|
| 1st Tier System, Series A, 6.25%, 01/01/39 |
|
|
655 |
|
|
|
670,707 |
|
| 1st Tier-Series A, 5.00%, 01/01/43 |
|
|
5,145 |
|
|
|
5,903,476 |
|
| Series A, 5.00%, 01/01/38 |
|
|
5,000 |
|
|
|
5,517,250 |
|
| Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien: |
|
|
|
|
|
|
|
|
| LBJ Infrastructure Group LLC, 7.00%, 06/30/40 |
|
|
8,000 |
|
|
|
8,737,680 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Texas (continued) |
|
| NTE Mobility Partners LLC, North Tarrant Express Managed Lanes Project, 6.88%, 12/31/39 |
|
$ |
4,710 |
|
|
$ |
5,031,457 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
74,512,057 |
|
| Vermont — 0.9% |
|
| University of Vermont & State Agricultural College, Refunding RB, 5.00%, 10/01/43 |
|
|
4,995 |
|
|
|
5,719,075 |
|
|
|
|
|
|
|
|
|
|
| Virginia — 4.3% |
|
| Ballston Quarter Community Development Authority, Tax Allocation Bonds, Series A: |
|
|
|
|
|
|
|
|
| 5.38%, 03/01/36 |
|
|
430 |
|
|
|
450,894 |
|
| 5.50%, 03/01/46 |
|
|
1,475 |
|
|
|
1,547,496 |
|
| City of Portsmouth Virginia, GO, Refunding Series D, 5.00%, 07/15/20(a) |
|
|
3,030 |
|
|
|
3,225,617 |
|
| County of Fairfax Virginia IDA, Refunding RB, Health Care-Inova Health, 5.50%, 05/15/19(a) |
|
|
735 |
|
|
|
760,629 |
|
| Tobacco Settlement Financing Corp., Refunding RB, Senior Series B-1,
5.00%, 06/01/47 |
|
|
3,665 |
|
|
|
3,664,927 |
|
| Virginia Small Business Financing Authority, RB, AMT: |
|
|
|
|
|
|
|
|
| Senior Lien, Elizabeth River Crossings OpCo LLC Project, 6.00%, 01/01/37 |
|
|
2,150 |
|
|
|
2,397,357 |
|
| Senior Lien, Elizabeth River Crossings OpCo LLC Project, 5.50%, 01/01/42 |
|
|
5,140 |
|
|
|
5,598,437 |
|
| Transform 66 P3 Project, 5.00%, 12/31/49 |
|
|
7,895 |
|
|
|
8,666,894 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,312,251 |
|
| Washington — 3.8% |
|
| Port of Seattle Washington, ARB, Intermediate Lien, Series C, AMT: |
|
|
|
|
|
|
|
|
| 5.00%, 05/01/37 |
|
|
4,905 |
|
|
|
5,584,539 |
|
| 5.00%, 05/01/42 |
|
|
1,295 |
|
|
|
1,469,035 |
|
| State of Washington, COP, Series B: |
|
|
|
|
|
|
|
|
| 5.00%, 07/01/36 |
|
|
1,725 |
|
|
|
2,014,852 |
|
| 5.00%, 07/01/38 |
|
|
2,300 |
|
|
|
2,682,122 |
|
| Washington Health Care Facilities Authority, RB, Catholic Health Initiatives, Series A,
5.75%, 01/01/45 |
|
|
4,010 |
|
|
|
4,404,263 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Washington (continued) |
|
| Washington Health Care Facilities Authority, Refunding RB, Catholic Health Initiatives, Series D, 6.38%,
10/01/36 |
|
$ |
7,000 |
|
|
$ |
7,096,040 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,250,851 |
|
| West Virginia — 0.4% |
|
| West Virginia Hospital Finance Authority, Refunding RB, Improvement, Charleston Area Medical Center, Inc.,
Series A, 5.63%, 09/01/32 |
|
|
2,500 |
|
|
|
2,592,950 |
|
|
|
|
|
|
|
|
|
|
| Wisconsin — 1.0% |
|
| Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert & Community
Health, Inc., Obligated Group: Series C, 5.25%, 04/01/19(a) |
|
|
6,100 |
|
|
|
6,279,584 |
|
|
|
|
|
|
|
|
|
|
| Wyoming — 1.3% |
|
| County of Sweetwater Wyoming, Refunding RB, Idaho Power Co. Project, Remarketing, 5.25%, 07/15/26 |
|
|
4,500 |
|
|
|
4,677,165 |
|
| State of Wyoming Municipal Power Agency, Inc., Refunding RB, Series A (BAM), 5.00%, 01/01/42 |
|
|
1,120 |
|
|
|
1,263,842 |
|
| Wyoming Community Development Authority, Refunding RB, Series 2 & 3, 4.05%, 12/01/38 |
|
|
2,215 |
|
|
|
2,241,137 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,182,144 |
|
|
|
|
|
|
|
|
|
|
| Total Municipal Bonds — 119.3%
(Cost — $695,973,730) |
|
|
|
729,487,033 |
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts(g) |
|
|
| Arizona — 0.6% |
|
| City of Phoenix Civic Improvement Corp., Refunding RB, Water System, Junior Lien, Series A, 5.00%, 07/01/19(a) |
|
|
3,500 |
|
|
|
3,620,505 |
|
|
|
|
|
|
|
|
|
|
| California — 6.2% |
|
| Sacramento Area Flood Control Agency, Refunding, Consolidated Capital Assessment District No. 2 Bonds,
5.00%, 10/01/47 |
|
|
14,998 |
|
|
|
17,222,775 |
|
| University of California, RB,
General,
Series O(a): |
|
|
|
|
|
|
|
|
| 5.25%, 05/15/19 |
|
|
5,675 |
|
|
|
5,881,627 |
|
| 5.25%, 05/15/19 |
|
|
11,090 |
|
|
|
11,493,787 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| California (continued) |
|
| 5.25%, 05/15/19 |
|
$ |
3,235 |
|
|
$ |
3,352,786 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
37,950,975 |
|
| District of Columbia — 1.2% |
|
| District of Columbia Water & Sewer Authority, Refunding RB, Senior Lien, Series A,
5.50%, 10/01/18(a) |
|
|
7,495 |
|
|
|
7,587,903 |
|
|
|
|
|
|
|
|
|
|
| Florida — 2.6% |
|
| County of Miami-Dade Florida Water & Sewer System, RB, (AGM), 5.00%, 10/01/20(a) |
|
|
14,747 |
|
|
|
15,795,362 |
|
|
|
|
|
|
|
|
|
|
| Illinois — 3.7% |
|
| State of Illinois Finance Authority, RB, University of Chicago, Series B, 6.25%, 07/01/18(a) |
|
|
10,000 |
|
|
|
10,035,500 |
|
| State of Illinois Toll Highway Authority, RB, Series B, 5.00%, 01/01/40 |
|
|
10,976 |
|
|
|
12,352,562 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,388,062 |
|
| Kentucky — 1.6% |
|
| County of Louisville & Jefferson Kentucky Metropolitan Government Parking Authority, RB, River City,
Inc., 1st Mortgage, Series A, 5.38%, 12/01/19(a) |
|
|
9,195 |
|
|
|
9,666,612 |
|
|
|
|
|
|
|
|
|
|
| Maryland — 1.7% |
|
| City of Baltimore Maryland Water Utility Fund, RB, Wastewater Project, Series A, 5.00%, 07/01/46 |
|
|
4,898 |
|
|
|
5,559,849 |
|
| State of Maryland Transportation Authority, RB, Transportation Facilities Project (AGM),
5.00%, 07/01/41 |
|
|
4,710 |
|
|
|
4,721,751 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,281,600 |
|
| Nevada — 2.7% |
|
| County of Clark Nevada Water Reclamation District, GO, Series B, 5.75%, 07/01/19(a) |
|
|
15,789 |
|
|
|
16,446,101 |
|
|
|
|
|
|
|
|
|
|
| New York — 5.8% |
|
| City of New York New York Water & Sewer System, Refunding RB, Water & Sewer System, 2nd
General Resolution, Series DD: |
|
|
|
|
|
|
|
|
| 5.00%, 06/15/18(a) |
|
|
3,556 |
|
|
|
3,558,500 |
|
| 5.00%, 06/15/37 |
|
|
20,643 |
|
|
|
20,658,803 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| New York (continued) |
|
| New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.75%, 11/15/51(h) |
|
$ |
10,000 |
|
|
$ |
11,084,195 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35,301,498 |
|
| North Carolina — 0.8% |
|
| North Carolina Capital Facilities Finance Agency, Refunding RB, Wake Forest University, 5.00%, 01/01/19(a) |
|
|
5,000 |
|
|
|
5,095,950 |
|
|
|
|
|
|
|
|
|
|
| Ohio — 1.4% |
|
| State of Ohio, RB, Cleveland Clinic Health Obligated Group, Series B, 5.50%, 01/01/34 |
|
|
8,500 |
|
|
|
8,684,662 |
|
|
|
|
|
|
|
|
|
|
| Oregon — 0.8% |
|
| State of Oregon Housing & Community Services Department, HRB, M/F Housing, Series A, AMT, 4.95%,
07/01/30 |
|
|
4,663 |
|
|
|
4,769,092 |
|
|
|
|
|
|
|
|
|
|
| Pennsylvania — 1.9% |
|
| Commonwealth of Pennsylvania, GO, 1st Series, 4.00%,
03/01/38(h) |
|
|
7,250 |
|
|
|
7,473,445 |
|
| County of Westmoreland Pennsylvania Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/38 |
|
|
3,925 |
|
|
|
4,412,844 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,886,289 |
|
| Texas — 5.8% |
|
| City of Houston Texas Higher Education Finance Corp., RB, Rice University Project, Series A, 5.00%, 05/15/20(a) |
|
|
10,000 |
|
|
|
10,577,586 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Texas (continued) |
|
| County of Harris Texas Health Facilities Development Corp., Refunding RB, School Health Care System, Series
B, 5.75%, 07/01/27(e) |
|
$ |
20,970 |
|
|
$ |
25,103,502 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35,681,088 |
|
| Virginia — 3.6% |
|
| County of Fairfax Virginia EDA, RB, Metrorail Parking System Project, 5.00%, 04/01/47(h) |
|
|
6,960 |
|
|
|
8,000,311 |
|
| Virginia Commonwealth Transportation Board, RB, Capital Projects, 5.00%, 05/15/21(a) |
|
|
7,999 |
|
|
|
8,703,784 |
|
| Virginia Small Business Financing Authority, Refunding RB, Sentara Healthcare, 5.00%, 11/01/40 |
|
|
5,002 |
|
|
|
5,271,751 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,975,846 |
|
| Washington — 1.9% |
|
| Washington Health Care Facilities Authority, Refunding RB, Seattle Children’s Hospital, Series B, 5.00%,
10/01/38 |
|
|
10,000 |
|
|
|
11,749,350 |
|
|
|
|
|
|
|
|
|
|
| Total Municipal Bonds Transferred to Tender Option Bond Trusts — 42.3%
(Cost —
$247,999,851) |
|
|
|
258,880,895 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Long-Term Investments — 161.6%
(Cost — $943,973,581) |
|
|
|
988,367,928 |
|
|
|
|
|
|
|
|
|
|
| Other Assets Less Liabilities — 0.4% |
|
|
|
2,097,941 |
|
| Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable —
(22.1)% |
|
|
|
(135,173,860 |
) |
| VMTP Shares at Liquidation Value — (39.9)% |
|
|
|
(243,800,000 |
) |
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
611,492,009 |
|
|
|
|
|
|
|
|
|
|
| (a) |
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. |
| (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.
|
| (d) |
Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period
end. |
| (e) |
Security is collateralized by municipal bonds or U.S. Treasury obligations. |
| (f) |
When-issued security. |
| (g) |
Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing. |
| (h) |
All or a portion of security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire between November 15, 2019 to
March 1, 2026, is $12,728,363. |
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF) |
During the period ended May 31, 2018, investments in issuers considered to be an affiliate of
the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliated |
|
|
Shares
Held at
08/31/17 |
|
|
|
Net
Activity |
|
|
|
Shares
Held at
05/31/18 |
|
|
|
Value at
05/31/18 |
|
|
|
Income |
|
|
|
Net
Realized
Gain (Loss) |
(a) |
|
|
Change in
Unrealized
Appreciation
(Depreciation) |
|
| BlackRock Liquidity Funds,
MuniCash, Institutional Class |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
$ |
— |
|
|
$ |
52,854 |
|
|
$ |
154 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(a) |
Includes net capital gain distributions, if applicable |
|
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 |
|
|
120 |
|
|
|
09/19/18 |
|
|
$ |
14,453 |
|
|
$ |
(89,367 |
) |
| 11-Long U.S. Treasury Bond |
|
|
158 |
|
|
|
09/19/18 |
|
|
|
22,930 |
|
|
|
(358,267 |
) |
| 5-Year U.S. Treasury Note |
|
|
40 |
|
|
|
09/28/18 |
|
|
|
4,556 |
|
|
|
(19,894 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(467,528 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Abbreviations
AGM — Assured
Guaranty Municipal Corp.
AMBAC — American Municipal Bond Assurance Corp.
AMT
— Alternative Minimum Tax (subject to)
ARB — Airport Revenue Bonds
BAM
— Build America Mutual Assurance Co.
CAB — Capital Appreciation Bonds
COP — Certificates of Participation
EDA — Economic Development Authority
ERB — Education Revenue Bonds
GARB — General Airport Revenue Bonds
GO — General Obligation Bonds
HFA — Housing Finance Agency
HRB — Housing Revenue Bonds
IDA — Industrial Development Authority
IDB — Industrial Development Board
LRB — Lease Revenue Bonds
M/F — Multi-Family
NPFGC — National Public Finance Guarantee Corp.
RB — Revenue Bonds
S/F — Single-Family
|
|
|
| Schedule of Investments (unaudited) (continued)
May 31, 2018 |
|
BlackRock MuniVest Fund, Inc. (MVF) |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of investments and derivative 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 Trust 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 Trust’s own assumptions used in determining the
fair value of investments and derivative financial instruments) |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets
for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in
Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is
significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (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. Level 3
investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.
Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trust’s policy, transfers
between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing
transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments
and derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its semi-annual report.
The following tables
summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Long-Term Investments(a) |
|
$ |
— |
|
|
$ |
988,367,928 |
|
|
$ |
— |
|
|
$ |
988,367,928 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative Financial Instruments(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate contracts |
|
$ |
(467,528 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(467,528 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(a) |
See above Schedule of Investments for values in each state or political subdivision |
|
| |
(b) |
Derivative financial instruments are futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument. |
|
The Trust 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 |
|
$ |
— |
|
|
$ |
(134,651,490 |
) |
|
$ |
— |
|
|
$ |
(134,651,490 |
) |
| VMTP Shares at Liquidation Value |
|
|
— |
|
|
|
(243,800,000 |
) |
|
|
— |
|
|
|
(243,800,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
(378,451,490 |
) |
|
$ |
— |
|
|
$ |
(378,451,490 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
During the period ended May 31, 2018, there were no transfers between levels.
| 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. |
| |
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, Inc. |
|
|
|
|
|
|
|
|
By: |
|
/s/ John M. Perlowski |
|
|
|
|
|
|
John M. Perlowski |
|
|
|
|
|
|
Chief Executive Officer (principal executive officer) of |
|
|
|
|
|
|
BlackRock MuniVest Fund, Inc. |
|
|
Date: July 19, 2018
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, Inc. |
|
|
Date: July 19, 2018
|
|
|
|
|
|
|
|
|
By: |
|
/s/ Neal J. Andrews |
|
|
|
|
|
|
Neal J. Andrews |
|
|
|
|
|
|
Chief Financial Officer (principal financial officer) of |
|
|
|
|
|
|
BlackRock MuniVest Fund, Inc. |
|
|
Date: July 19, 2018