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 811-06414

 

Name of Fund: BlackRock MuniYield Fund, Inc. (MYD)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield 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: 04/30/2011

 

Date of reporting period: 01/31/2011

 

Item 1 – Schedule of Investments

 

 

 

Schedule of Investments January 31, 2011 (Unaudited)

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 0.8%

 

 

 

 

 

 

 

County of Jefferson Alabama, RB,
Series A, 5.50%, 1/01/22

 

$

5,250

 

$

4,882,553

 

Arizona — 11.1%

 

 

 

 

 

 

 

Arizona State Transportation Board, RB,
Sub-Series A:

 

 

 

 

 

 

 

5.00%, 7/01/22

 

 

7,030

 

 

7,372,923

 

5.00%, 7/01/23

 

 

5,240

 

 

5,451,486

 

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

 

 

3,300

 

 

2,179,485

 

Maricopa County IDA Arizona, Refunding
RB, Series A-1 (Ginnie Mae):

 

 

 

 

 

 

 

6.00%, 10/20/31

 

 

1,230

 

 

1,256,691

 

6.05%, 10/20/36

 

 

1,230

 

 

1,218,155

 

Maricopa County Pollution Control Corp.,
Refunding RB, Southern California
Edison Co., Series A, 5.00%, 6/01/35

 

 

3,450

 

 

3,246,278

 

Phoenix IDA Arizona, Refunding RB,
America West Airlines Inc. Project,
AMT:

 

 

 

 

 

 

 

6.25%, 6/01/19

 

 

3,000

 

 

2,567,040

 

6.30%, 4/01/23

 

 

5,090

 

 

4,176,701

 

Pima County IDA, IDRB, Tucson Electric
Power, Series A, 6.38%, 9/01/29

 

 

3,000

 

 

3,022,110

 

Pima County IDA, Refunding IDRB,
Tucson Electric Power, 5.75%,
9/01/29

 

 

2,240

 

 

2,186,218

 

Pima County IDA, Refunding RB, Charter
Schools II, Series A, 6.75%, 7/01/31

 

 

735

 

 

675,274

 

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

 

 

3,975

 

 

3,894,188

 

Salt Verde Financial Corp., RB, Senior:

 

 

 

 

 

 

 

5.00%, 12/01/32

 

 

7,365

 

 

6,338,319

 

5.00%, 12/01/37

 

 

14,190

 

 

12,024,890

 

Vistancia Community Facilities District
Arizona, GO:

 

 

 

 

 

 

 

5.50%, 7/15/20

 

 

3,000

 

 

3,097,830

 

5.75%, 7/15/24

 

 

2,125

 

 

2,172,579

 

Yavapai County IDA Arizona, RB, Yavapai
Regional Medical Center, Series A,
6.00%, 8/01/33

 

 

3,900

 

 

3,733,197

 

 

 

 

 

 

 

 

 

 

 

 

64,613,364

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Arkansas — 0.5%

 

 

 

 

 

 

 

County of Little River Arkansas,
Refunding RB, Georgia-Pacific Corp.
Project, AMT, 5.60%, 10/01/26

 

$

3,385

 

$

3,097,343

 

California — 12.6%

 

 

 

 

 

 

 

California Health Facilities Financing
Authority, Refunding RB:

 

 

 

 

 

 

 

Catholic Healthcare West, Series A,
6.00%, 7/01/34

 

 

3,155

 

 

3,156,861

 

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

 

 

4,425

 

 

4,345,748

 

Sutter Health, Series B, 6.00%,
8/15/42 (a)

 

 

6,465

 

 

6,348,113

 

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

 

 

2,385

 

 

2,426,261

 

California Statewide Communities
Development Authority, RB, John Muir
Health, 5.13%, 7/01/39

 

 

4,375

 

 

3,850,262

 

Golden State Tobacco Securitization
Corp. California, Refunding RB,
Asset-Backed, Senior Series A-1,
5.13%, 6/01/47

 

 

2,090

 

 

1,226,621

 

Los Angeles Department of Airports, RB,
Series A, 5.25%, 5/15/39

 

 

1,605

 

 

1,536,547

 

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

 

 

11,970

 

 

11,005,338

 

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

 

 

19,075

 

 

18,233,792

 

State of California, GO:

 

 

 

 

 

 

 

(AMBAC), 5.00%, 4/01/31

 

 

10

 

 

9,089

 

Various Purpose, 5.25%, 11/01/25

 

 

1,350

 

 

1,350,230

 

Various Purpose, 6.00%, 3/01/33

 

 

5,085

 

 

5,173,682

 

Various Purpose, 6.50%, 4/01/33

 

 

14,075

 

 

14,885,298

 

 

 

 

 

 

 

 

 

 

 

 

73,547,842

 

Colorado — 3.6%

 

 

 

 

 

 

 

City & County of Denver Colorado, RB,
Series D, AMT (AMBAC), 7.75%,
11/15/13

 

 

3,990

 

 

4,332,382

 

 

 

 

 

 

 

 

 

Portfolio Abbreviations

 

 

 

 

 

 

 

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

ACA

ACA Financial Guaranty Corp.

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

CAB

Capital Appreciation Bonds

EDA

Economic Development Authority

EDC

Economic Development Corp.

ERB

Education Revenue Bonds

FHA

Federal Housing Administration

GO

General Obligation Bonds

HDA

Housing Development Authority

HFA

Housing Finance Agency

HRB

Housing Revenue Bonds

IDA

Industrial Development Authority

IDRB

Industrial Development Revenue Bonds

MRB

Mortgage Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

RB

Revenue Bonds

S/F

Single-Family

SO

Special Obligation

 

 

 

BLACKROCK MUNIYIELD FUND, INC.

JANUARY 31, 2011

1


 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Colorado (concluded)

 

 

 

 

 

 

 

Colorado Health Facilities Authority,
Refunding RB, Sisters of Leavenworth,
Series A, 5.00%, 1/01/40

 

$

4,435

 

$

3,912,025

 

Colorado Housing & Finance Authority,
Refunding RB, S/F Program, Senior
Series D-2, AMT, 6.90%, 4/01/29

 

 

150

 

 

159,183

 

Plaza Metropolitan District No. 1
Colorado, Tax Allocation Bonds, Tax
Increment:

 

 

 

 

 

 

 

Public Improvement Fee, 8.00%,
12/01/25

 

 

6,850

 

 

6,642,445

 

Subordinate Public Improvement
Fee, 8.13%, 12/01/25

 

 

1,885

 

 

1,669,620

 

University of Colorado, RB, Series A:

 

 

 

 

 

 

 

5.25%, 6/01/30

 

 

2,250

 

 

2,280,150

 

5.38%, 6/01/32

 

 

1,250

 

 

1,273,012

 

5.38%, 6/01/38

 

 

830

 

 

836,308

 

 

 

 

 

 

 

 

 

 

 

 

21,105,125

 

Connecticut — 1.6%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB:

 

 

 

 

 

 

 

Ascension Health Senior Credit,
5.00%, 11/15/40

 

 

2,770

 

 

2,497,016

 

Wesleyan University, 5.00%,
7/01/35

 

 

2,225

 

 

2,203,240

 

Wesleyan University, 5.00%,
7/01/39

 

 

5,000

 

 

4,910,450

 

 

 

 

 

 

 

 

 

 

 

 

9,610,706

 

Delaware — 1.6%

 

 

 

 

 

 

 

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

 

 

2,305

 

 

2,212,431

 

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

 

 

8,275

 

 

7,294,082

 

 

 

 

 

 

 

 

 

 

 

 

9,506,513

 

District of Columbia — 1.8%

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB:

 

 

 

 

 

 

 

CAB, 2nd Senior Lien, Series B
(AGC), 7.00%, 10/01/31 (b)

 

 

10,000

 

 

2,490,800

 

CAB, 2nd Senior Lien, Series B
(AGC), 7.03%, 10/01/32 (b)

 

 

15,000

 

 

3,493,200

 

CAB, 2nd Senior Lien, Series B
(AGC), 7.05%, 10/01/33 (b)

 

 

13,410

 

 

2,913,457

 

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

 

 

1,500

 

 

1,449,360

 

 

 

 

 

 

 

 

 

 

 

 

10,346,817

 

Florida — 8.8%

 

 

 

 

 

 

 

City of Clearwater Florida, RB, Series A,
5.25%, 12/01/39

 

 

3,435

 

 

3,374,647

 

County of Broward Florida, RB, Series A,
5.25%, 10/01/34

 

 

2,155

 

 

2,134,657

 

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

 

 

11,450

 

 

10,696,475

 

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

 

 

7,530

 

 

6,984,000

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Florida (concluded)

 

 

 

 

 

 

 

Greater Orlando Aviation Authority
Florida, RB, Special Purpose, JetBlue
Airways Corp., AMT, 6.50%, 11/15/36

 

$

2,500

 

$

2,229,175

 

Hillsborough County IDA, RB, AMT,
National Gypsum Co.:

 

 

 

 

 

 

 

Series A, 7.13%, 4/01/30

 

 

11,500

 

 

10,222,695

 

Series B, 7.13%, 4/01/30

 

 

5,000

 

 

4,444,650

 

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

 

 

4,615

 

 

4,534,330

 

Midtown Miami Community
Development District, Special
Assessment Bonds, Series B, 6.50%,
5/01/37

 

 

5,255

 

 

4,754,724

 

Santa Rosa Bay Bridge Authority, RB,
6.25%, 7/01/28

 

 

4,620

 

 

2,134,717

 

 

 

 

 

 

 

 

 

 

 

 

51,510,070

 

Georgia — 1.9%

 

 

 

 

 

 

 

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

 

 

1,700

 

 

1,578,671

 

Metropolitan Atlanta Rapid Transit
Authority, RB, Third Series, 5.00%,
7/01/39

 

 

6,945

 

 

6,739,706

 

Private Colleges & Universities Authority,
Refunding RB, Emory University,
Series C, 5.00%, 9/01/38

 

 

2,960

 

 

2,899,142

 

 

 

 

 

 

 

 

 

 

 

 

11,217,519

 

Guam — 0.8%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A:

 

 

 

 

 

 

 

6.00%, 11/15/19

 

 

1,270

 

 

1,293,292

 

6.75%, 11/15/29

 

 

1,815

 

 

1,915,587

 

7.00%, 11/15/39

 

 

1,200

 

 

1,281,228

 

 

 

 

 

 

 

 

 

 

 

 

4,490,107

 

Hawaii — 0.5%

 

 

 

 

 

 

 

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

 

 

2,760

 

 

2,652,691

 

Idaho — 1.7%

 

 

 

 

 

 

 

Power County Industrial Development
Corp., RB, FMC Corp. Project, AMT,
6.45%, 8/01/32

 

 

10,000

 

 

10,017,000

 

Illinois — 4.5%

 

 

 

 

 

 

 

Bolingbrook Special Service Area No. 1,
Special Tax Bonds, Forest City Project,
5.90%, 3/01/27

 

 

1,000

 

 

780,060

 

Illinois Finance Authority, RB, Navistar
International, Recovery Zone, 6.50%,
10/15/40

 

 

3,130

 

 

3,114,506

 

Illinois Finance Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

3,235

 

 

3,043,812

 

Friendship Village Schaumburg,
Series A, 5.63%, 2/15/37

 

 

875

 

 

665,026

 

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

 

 

 

 

 

 

 

CAB, Series B, 6.25%, 6/15/46 (b)

 

 

11,405

 

 

996,911

 

 

 

 

2

BLACKROCK MUNIYIELD FUND, INC.

JANUARY 31, 2011


 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Fund, Inc. (MYD)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

Metropolitan Pier & Exposition Authority,
Refunding RB (AGM), McCormick
Place Expansion Project (concluded):

 

 

 

 

 

 

 

CAB, Series B, 6.25%, 6/15/47 (b)

 

$

27,225

 

$

2,213,665

 

Series B, 5.00%, 6/15/50

 

 

6,405

 

 

5,432,721

 

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

 

 

5,085

 

 

4,176,666

 

Railsplitter Tobacco Settlement
Authority, RB:

 

 

 

 

 

 

 

5.50%, 6/01/23

 

 

2,730

 

 

2,584,682

 

6.00%, 6/01/28

 

 

2,335

 

 

2,228,384

 

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

 

 

1,275

 

 

1,193,515

 

 

 

 

 

 

 

 

 

 

 

 

26,429,948

 

Indiana — 1.8%

 

 

 

 

 

 

 

Indiana Finance Authority, RB, Sisters of
St. Francis Health, 5.25%, 11/01/39

 

 

1,690

 

 

1,532,154

 

Indiana Finance Authority, Refunding
RB, Parkview Health System, Series A,
5.75%, 5/01/31

 

 

6,645

 

 

6,550,574

 

Indiana Municipal Power Agency, RB,
Series B, 6.00%, 1/01/39

 

 

2,230

 

 

2,297,770

 

 

 

 

 

 

 

 

 

 

 

 

10,380,498

 

Kansas — 2.0%

 

 

 

 

 

 

 

City of Lenexa Kansas, RB, Lakeview
Village Inc., Series C, 6.88%,
5/15/12 (c)

 

 

1,250

 

 

1,363,988

 

Kansas Development Finance Authority,
Refunding RB:

 

 

 

 

 

 

 

Adventist Health, 5.75%, 11/15/38

 

 

7,100

 

 

7,123,572

 

Sisters of Leavenworth, Series A,
5.00%, 1/01/40

 

 

3,365

 

 

3,099,838

 

 

 

 

 

 

 

 

 

 

 

 

11,587,398

 

Kentucky — 0.4%

 

 

 

 

 

 

 

Kentucky Economic Development
Finance Authority, Refunding RB:

 

 

 

 

 

 

 

Norton, Series A, 6.63%, 10/01/28

 

 

650

 

 

653,432

 

Owensboro Medical Health System,
Series A, 6.38%, 6/01/40

 

 

2,040

 

 

1,915,478

 

 

 

 

 

 

 

 

 

 

 

 

2,568,910

 

Louisiana — 4.2%

 

 

 

 

 

 

 

East Baton Rouge Sewerage
Commission, RB, Series A, 5.25%,
2/01/39

 

 

1,610

 

 

1,593,690

 

Louisiana Local Government
Environmental Facilities & Community
Development Authority, RB, Westlake
Chemical Corp. Projects, 6.75%,
11/01/32

 

 

9,000

 

 

9,067,500

 

New Orleans Aviation Board, Refunding
RB, Passenger Facility Charge,
Series A, 5.25%, 1/01/41

 

 

1,260

 

 

1,143,866

 

Port of New Orleans Louisiana,
Refunding RB, Continental Grain Co.
Project, 6.50%, 1/01/17

 

 

13,000

 

 

12,527,450

 

 

 

 

 

 

 

 

 

 

 

 

24,332,506

 

Maine — 0.5%

 

 

 

 

 

 

 

Maine Health & Higher Educational
Facilities Authority, RB, Series A,
5.00%, 7/01/39

 

 

3,140

 

 

2,923,999

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Maryland — 1.2%

 

 

 

 

 

 

 

County of Prince George’s Maryland, SO,
National Harbor Project, 5.20%,
7/01/34

 

$

1,500

 

$

1,229,760

 

Maryland Community Development
Administration, Refunding RB,
Residential, Series A, AMT, 4.65%,
9/01/32

 

 

115

 

 

102,200

 

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

 

 

880

 

 

801,777

 

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

 

 

1,690

 

 

1,573,120

 

Maryland Industrial Development
Financing Authority, RB, Our Lady of
Good Counsel School, Series A,
6.00%, 5/01/35

 

 

500

 

 

460,505

 

Maryland State Energy Financing
Administration, RB, Cogeneration, AES
Warrior Run, AMT, 7.40%, 9/01/19

 

 

3,000

 

 

2,991,270

 

 

 

 

 

 

 

 

 

 

 

 

7,158,632

 

Massachusetts — 1.6%

 

 

 

 

 

 

 

Massachusetts Bay Transportation
Authority, Refunding RB,
Senior Series A-1, 5.25%, 7/01/29

 

 

3,250

 

 

3,435,543

 

Massachusetts Development Finance
Agency, RB, Seven Hills Foundation &
Affiliates (Radian), 5.00%, 9/01/35

 

 

3,500

 

 

2,654,155

 

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

 

 

3,640

 

 

3,259,838

 

 

 

 

 

 

 

 

 

 

 

 

9,349,536

 

Michigan — 3.4%

 

 

 

 

 

 

 

City of Detroit Michigan, RB, Senior Lien,
Series B (AGM), 7.50%, 7/01/33

 

 

1,835

 

 

2,125,058

 

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

 

 

2,795

 

 

2,590,099

 

Michigan State Hospital Finance
Authority, Refunding RB, Hospital,
Henry Ford Health, 5.75%, 11/15/39

 

 

6,085

 

 

5,589,438

 

Royal Oak Hospital Finance Authority
Michigan, Refunding RB, William
Beaumont Hospital:

 

 

 

 

 

 

 

8.00%, 9/01/29

 

 

2,000

 

 

2,220,140

 

8.25%, 9/01/39

 

 

6,365

 

 

7,087,491

 

 

 

 

 

 

 

 

 

 

 

 

19,612,226

 

Minnesota — 0.6%

 

 

 

 

 

 

 

City of Eden Prairie Minnesota, RB,
Rolling Hills Project, Series A (Ginnie
Mae):

 

 

 

 

 

 

 

6.00%, 8/20/21

 

 

420

 

 

443,419

 

6.20%, 2/20/43

 

 

2,000

 

 

2,104,260

 

 

 

 

BLACKROCK MUNIYIELD FUND, INC.

JANUARY 31, 2011

3


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Fund, Inc. (MYD)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Minnesota (concluded)

 

 

 

 

 

 

 

City of Minneapolis Minnesota, HRB,
Gaar Scott Loft Project, Mandatory Put
Bonds, AMT, 5.95%, 5/01/30 (d)

 

$

875

 

$

876,059

 

 

 

 

 

 

 

 

 

 

 

 

3,423,738

 

Mississippi — 0.1%

 

 

 

 

 

 

 

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

 

 

280

 

 

280,081

 

Montana — 0.7%

 

 

 

 

 

 

 

Montana Facility Finance Authority,
Refunding RB, Sisters of Leavenworth,
Series A, 4.75%, 1/01/40

 

 

4,585

 

 

4,059,605

 

New Hampshire — 0.5%

 

 

 

 

 

 

 

New Hampshire Health & Education
Facilities Authority, Refunding RB,
Elliot Hospital, Series B, 5.60%,
10/01/22

 

 

3,090

 

 

3,086,941

 

New Jersey — 8.1%

 

 

 

 

 

 

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

Cigarette Tax, 5.50%, 6/15/24

 

 

9,715

 

 

8,928,182

 

Continental Airlines Inc. Project,
AMT, 6.25%, 9/15/19

 

 

3,905

 

 

3,693,271

 

Continental Airlines Inc. Project,
AMT, 6.25%, 9/15/29

 

 

14,000

 

 

12,672,660

 

First Mortgage, Lions Gate Project,
Series A, 5.75%, 1/01/25

 

 

710

 

 

628,946

 

First Mortgage, Lions Gate Project,
Series A, 5.88%, 1/01/37

 

 

230

 

 

189,794

 

First Mortgage, Presbyterian
Homes, Series A, 6.38%, 11/01/31

 

 

3,000

 

 

2,541,000

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.00%, 7/01/29

 

 

16,650

 

 

16,238,412

 

New Jersey Health Care Facilities
Financing Authority, RB, Pascack
Valley Hospital Association (e)(f):

 

 

 

 

 

 

 

6.00%, 7/01/13

 

 

1,335

 

 

13

 

6.63%, 7/01/36

 

 

1,835

 

 

18

 

New Jersey Transportation Trust Fund
Authority, RB, CAB, Transportation
System, Series C (AMBAC), 5.05%,
12/15/35 (b)

 

 

13,110

 

 

2,412,896

 

 

 

 

 

 

 

 

 

 

 

 

47,305,192

 

New York — 5.3%

 

 

 

 

 

 

 

Dutchess County Industrial
Development Agency New York,
Refunding RB, St. Francis Hospital,
Series A, 7.50%, 3/01/29

 

 

2,200

 

 

2,073,588

 

Metropolitan Transportation Authority,
Refunding RB:

 

 

 

 

 

 

 

Series B, 5.00%, 11/15/34

 

 

4,910

 

 

4,692,585

 

Transportation, Series D, 5.25%,
11/15/40

 

 

2,465

 

 

2,254,095

 

New York City Industrial Development
Agency, RB, British Airways Plc
Project, AMT, 7.63%, 12/01/32

 

 

1,250

 

 

1,252,475

 

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

 

 

2,480

 

 

2,492,474

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

Port Authority of New York & New Jersey,
RB, JFK International Air Terminal:

 

 

 

 

 

 

 

6.00%, 12/01/36

 

$

2,625

 

$

2,517,821

 

6.00%, 12/01/42

 

 

2,555

 

 

2,411,588

 

Triborough Bridge & Tunnel Authority,
RB, Subordinate Bonds, 5.25%,
11/15/30

 

 

10,000

 

 

10,019,700

 

Westchester County Industrial
Development Agency New York, MRB,
Kendal on Hudson Project, Series A,
6.38%, 1/01/24

 

 

3,450

 

 

3,242,448

 

 

 

 

 

 

 

 

 

 

 

 

30,956,774

 

North Carolina — 2.6%

 

 

 

 

 

 

 

North Carolina Capital Facilities Finance
Agency, RB, Duke Energy Carolinas,
Series B, 4.38%, 10/01/31

 

 

3,270

 

 

2,915,336

 

North Carolina Capital Facilities Finance
Agency, Refunding RB, Duke Energy
Carolinas:

 

 

 

 

 

 

 

Series A, 4.63%, 11/01/40

 

 

2,445

 

 

2,157,615

 

Series B, 4.63%, 11/01/40

 

 

1,810

 

 

1,597,253

 

North Carolina HFA, RB:

 

 

 

 

 

 

 

Home Ownership, Series 8A, AMT,
6.20%, 7/01/16

 

 

90

 

 

90,131

 

S/F, Series II (FHA), 6.20%,
3/01/16

 

 

480

 

 

481,022

 

North Carolina Medical Care
Commission, RB:

 

 

 

 

 

 

 

Duke University Health System,
Series A, 5.00%, 6/01/42

 

 

2,805

 

 

2,569,071

 

First Mortgage, Arbor Acres
Community Project, 6.38%,
3/01/12 (c)

 

 

1,000

 

 

1,069,550

 

North Carolina Medical Care
Commission, Refunding RB, First
Mortgage, Presbyterian Homes,
5.40%, 10/01/27

 

 

5,000

 

 

4,398,450

 

 

 

 

 

 

 

 

 

 

 

 

15,278,428

 

Ohio — 1.1%

 

 

 

 

 

 

 

County of Lucas Ohio, Refunding RB,
Sunset Retirement, Series A, 6.63%,
8/15/30

 

 

2,175

 

 

2,152,619

 

County of Montgomery Ohio, Refunding
RB, Catholic Healthcare, Series A,
5.00%, 5/01/39

 

 

2,840

 

 

2,580,737

 

Toledo-Lucas County Port Authority, RB,
St. Mary Woods Project, Series A:

 

 

 

 

 

 

 

6.00%, 5/15/24

 

 

750

 

 

457,950

 

6.00%, 5/15/34

 

 

2,250

 

 

1,373,850

 

 

 

 

 

 

 

 

 

 

 

 

6,565,156

 

Pennsylvania — 4.7%

 

 

 

 

 

 

 

Allegheny County Hospital Development
Authority, Refunding RB, Health
System, West Penn, Series A, 5.38%,
11/15/40

 

 

5,490

 

 

3,648,434

 

Montgomery County Higher Education &
Health Authority, Refunding RB,
Abington Memorial Hospital, Series A,
5.13%, 6/01/33

 

 

2,265

 

 

2,069,440

 

 

 

 

4

BLACKROCK MUNIYIELD FUND, INC.

JANUARY 31, 2011


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Fund, Inc. (MYD)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Pennsylvania (concluded)

 

 

 

 

 

 

 

Pennsylvania Economic Development
Financing Authority, RB:

 

 

 

 

 

 

 

Aqua Pennsylvania Inc. Project,
5.00%, 11/15/40

 

$

3,805

 

$

3,634,650

 

National Gypsum Co., Series A,
AMT, 6.25%, 11/01/27

 

 

5,270

 

 

4,304,958

 

Pennsylvania Turnpike Commission, RB,
Sub-Series B, 5.25%, 6/01/39

 

 

12,905

 

 

12,213,550

 

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

 

 

1,265

 

 

1,265,582

 

 

 

 

 

 

 

 

 

 

 

 

27,136,614

 

Puerto Rico — 3.7%

 

 

 

 

 

 

 

Commonwealth of Puerto Rico, GO,
Refunding, Public Improvement,
Series C, 6.00%, 7/01/39

 

 

6,000

 

 

5,855,880

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 6.50%,
8/01/44

 

 

10,120

 

 

10,473,492

 

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

 

 

 

 

 

 

 

First Sub-Series C, 6.58%, 8/01/38

 

 

23,695

 

 

3,747,364

 

Series A (AMBAC), 6.47%, 8/01/47

 

 

14,900

 

 

1,208,837

 

 

 

 

 

 

 

 

 

 

 

 

21,285,573

 

Rhode Island — 1.0%

 

 

 

 

 

 

 

Central Falls Detention Facility Corp.,
Refunding RB, 7.25%, 7/15/35

 

 

4,240

 

 

3,392,721

 

City of Woonsocket Rhode Island, GO
(NPFGC):

 

 

 

 

 

 

 

6.00%, 10/01/17

 

 

1,200

 

 

1,214,580

 

6.00%, 10/01/18

 

 

1,195

 

 

1,209,196

 

 

 

 

 

 

 

 

 

 

 

 

5,816,497

 

South Carolina — 1.1%

 

 

 

 

 

 

 

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

 

 

6,695

 

 

6,423,786

 

Tennessee — 0.9%

 

 

 

 

 

 

 

Hardeman County Correctional Facilities
Corp. Tennessee, RB, 7.75%,
8/01/17

 

 

3,235

 

 

3,096,380

 

Rutherford County Health & Educational
Facilities Board, RB, Ascension Health
Senior Credit Group, 5.00%,
11/15/40

 

 

2,065

 

 

1,856,043

 

 

 

 

 

 

 

 

 

 

 

 

4,952,423

 

Texas — 14.7%

 

 

 

 

 

 

 

Alliance Airport Authority Texas,
Refunding RB, American Airlines Inc.
Project, AMT, 5.75%, 12/01/29

 

 

3,500

 

 

2,621,815

 

Bexar County Housing Finance Corp.,
RB, Waters at Northern Hills
Apartments, Series A (NPFGC):

 

 

 

 

 

 

 

6.00%, 8/01/31

 

 

805

 

 

706,194

 

6.05%, 8/01/36

 

 

1,000

 

 

861,410

 

Brazos River Authority, Refunding RB,
TXU Electric Co. Project, Series C,
Mandatory Put Bonds, AMT, 5.75%,
5/01/36 (d)

 

 

6,285

 

 

5,915,631

 

City of Dallas Texas, Refunding RB,
5.00%, 10/01/35

 

 

3,060

 

 

3,055,471

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Texas (concluded)

 

 

 

 

 

 

 

City of Houston Texas, RB:

 

 

 

 

 

 

 

Senior Lien, Series A, 5.50%,
7/01/39

 

$

3,100

 

$

3,107,316

 

Special Facilities, Continental
Airlines, Series E, AMT, 7.38%,
7/01/22

 

 

3,500

 

 

3,512,460

 

Special Facilities, Continental
Airlines, Series E, AMT, 7.00%,
7/01/29

 

 

3,000

 

 

2,969,190

 

Dallas-Fort Worth International Airport
Facilities Improvement Corp.,
Refunding RB, American Airlines Inc.
Project, AMT, 5.50%, 11/01/30

 

 

12,500

 

 

8,986,375

 

Gulf Coast IDA, RB, Citgo Petroleum
Corp. Project, Mandatory Put Bonds,
AMT, 7.50%, 5/01/25 (d)

 

 

3,900

 

 

3,918,720

 

Houston Industrial Development Corp.,
RB, Senior, Air Cargo, AMT, 6.38%,
1/01/23

 

 

1,580

 

 

1,440,849

 

La Vernia Higher Education Finance
Corp., RB, KIPP Inc., 6.38%, 8/15/44

 

 

2,360

 

 

2,307,254

 

Matagorda County Navigation District
No. 1 Texas, Refunding RB, Central
Power & Light Co. Project, Series A,
6.30%, 11/01/29

 

 

4,320

 

 

4,369,032

 

North Texas Tollway Authority, RB, Toll,
2nd Tier, Series F, 6.13%, 1/01/31

 

 

12,140

 

 

12,156,996

 

San Antonio Energy Acquisition Public
Facility Corp., RB, Gas Supply, 5.50%,
8/01/25

 

 

6,365

 

 

6,252,849

 

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

 

 

 

 

 

 

 

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

 

 

8,730

 

 

8,789,015

 

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

 

 

7,820

 

 

7,795,054

 

Texas State Public Finance Authority,
Refunding ERB, KIPP Inc., Series A
(ACA), 5.00%, 2/15/36

 

 

1,000

 

 

816,780

 

Texas State Turnpike Authority, RB, First
Tier, Series A (AMBAC), 5.50%,
8/15/39

 

 

6,500

 

 

5,975,515

 

 

 

 

 

 

 

 

 

 

 

 

85,557,926

 

U.S. Virgin Islands — 1.0%

 

 

 

 

 

 

 

Virgin Islands Public Finance Authority,
RB, Senior Secured, Hovensa
Refinery, AMT, 6.13%, 7/01/22

 

 

6,250

 

 

5,980,313

 

Utah — 1.1%

 

 

 

 

 

 

 

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

 

 

7,310

 

 

6,691,501

 

Virginia — 1.4%

 

 

 

 

 

 

 

James City County EDA, RB, First
Mortgage, Williamsburg Lodge,
Series A:

 

 

 

 

 

 

 

5.35%, 9/01/26

 

 

1,500

 

 

1,294,170

 

5.50%, 9/01/34

 

 

2,000

 

 

1,620,560

 

Virginia HDA, RB, Sub-Series H-1
(NPFGC), 5.35%, 7/01/31

 

 

4,550

 

 

4,554,368

 

 

 

 

BLACKROCK MUNIYIELD FUND, INC.

JANUARY 31, 2011

5


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Fund, Inc. (MYD)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Virginia (concluded)

 

 

 

 

 

 

 

Winchester IDA Virginia, RB,
Westminster-Canterbury, Series A,
5.20%, 1/01/27

 

$

1,000

 

$

870,400

 

 

 

 

 

 

 

 

 

 

 

 

8,339,498

 

Washington — 0.3%

 

 

 

 

 

 

 

Vancouver Housing Authority
Washington, HRB, Teal Pointe
Apartments Project, AMT:

 

 

 

 

 

 

 

6.00%, 9/01/22

 

 

945

 

 

836,476

 

6.20%, 9/01/32

 

 

1,250

 

 

1,018,200

 

 

 

 

 

 

 

 

 

 

 

 

1,854,676

 

Wisconsin — 4.5%

 

 

 

 

 

 

 

City of Milwaukee Wisconsin, RB, Senior,
Air Cargo, AMT, 6.50%, 1/01/25

 

 

545

 

 

499,247

 

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

 

 

14,300

 

 

15,166,437

 

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

 

 

4,970

 

 

4,452,971

 

Wisconsin Health & Educational
Facilities Authority, Refunding RB,
Franciscan Sisters Healthcare, 5.00%,
9/01/26

 

 

6,970

 

 

6,092,895

 

 

 

 

 

 

 

 

 

 

 

 

26,211,550

 

Wyoming — 2.0%

 

 

 

 

 

 

 

County of Sweetwater Wyoming,
Refunding RB, Idaho Power Co.
Project, 5.25%, 7/15/26

 

 

6,195

 

 

6,275,721

 

Wyoming Community Development
Authority, RB, Series 3, AMT, 4.75%,
12/01/37

 

 

5,315

 

 

4,611,719

 

Wyoming Municipal Power Agency, RB,
Series A, 5.00%, 1/01/42

 

 

595

 

 

535,554

 

 

 

 

 

 

 

 

 

 

 

 

11,422,994

 

Total Municipal Bonds – 122.3%

 

 

 

 

 

713,570,569

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (g)

 

 

 

 

 

 

 

Alabama — 0.7%

 

 

 

 

 

 

 

Alabama Special Care Facilities
Financing Authority-Birmingham,
Refunding RB, Ascension Health
Senior Credit, Series C-2, 5.00%,
11/15/36

 

 

4,538

 

 

4,238,751

 

California — 3.2%

 

 

 

 

 

 

 

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

 

 

6,581

 

 

6,673,028

 

California Educational Facilities
Authority, RB, University of Southern
California, Series A, 5.25%, 10/01/39

 

 

5,310

 

 

5,349,559

 

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

 

 

4,650

 

 

4,381,277

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (g)

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

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

 

$

2,154

 

$

2,165,388

 

 

 

 

 

 

 

 

 

 

 

 

18,569,252

 

Colorado — 2.6%

 

 

 

 

 

 

 

Colorado Health Facilities Authority, RB
(AGM), Catholic Health:

 

 

 

 

 

 

 

Series C-3, 5.10%, 10/01/41

 

 

7,490

 

 

6,851,777

 

Series C-7, 5.00%, 9/01/36

 

 

4,800

 

 

4,410,672

 

Colorado Health Facilities Authority,
Refunding RB, Catholic Healthcare,
Series A, 5.50%, 7/01/34

 

 

4,299

 

 

4,199,055

 

 

 

 

 

 

 

 

 

 

 

 

15,461,504

 

Connecticut — 3.2%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB, Yale University:

 

 

 

 

 

 

 

Series T-1, 4.70%, 7/01/29

 

 

9,130

 

 

9,192,997

 

Series X-3, 4.85%, 7/01/37

 

 

9,270

 

 

9,278,714

 

 

 

 

 

 

 

 

 

 

 

 

18,471,711

 

Georgia — 1.1%

 

 

 

 

 

 

 

Private Colleges & Universities Authority,
Refunding RB, Emory University,
Series C, 5.00%, 9/01/38

 

 

6,398

 

 

6,266,275

 

New Hampshire — 0.7%

 

 

 

 

 

 

 

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

 

 

4,048

 

 

4,129,826

 

New York — 3.4%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB, Series FF-2, 5.50%,
6/15/40

 

 

3,194

 

 

3,264,819

 

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

 

 

16,724

 

 

16,310,705

 

 

 

 

 

 

 

 

 

 

 

 

19,575,524

 

North Carolina — 3.7%

 

 

 

 

 

 

 

North Carolina Capital Facilities Finance
Agency, Refunding RB:

 

 

 

 

 

 

 

Duke University Project, Series A,
5.00%, 10/01/41

 

 

18,897

 

 

18,662,380

 

Wake Forest University, 5.00%,
1/01/38

 

 

3,120

 

 

3,097,037

 

 

 

 

 

 

 

 

 

 

 

 

21,759,417

 

Ohio — 4.7%

 

 

 

 

 

 

 

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

 

 

27,900

 

 

27,314,100

 

South Carolina — 2.9%

 

 

 

 

 

 

 

Charleston Educational Excellence
Finance Corp., RB, Charleston County
School (AGC):

 

 

 

 

 

 

 

5.25%, 12/01/28

 

 

7,795

 

 

7,807,550

 

5.25%, 12/01/29

 

 

6,920

 

 

6,894,880

 

 

 

 

6

BLACKROCK MUNIYIELD FUND, INC.

JANUARY 31, 2011


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Fund, Inc. (MYD)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (g)

 

Par
(000)

 

Value

 

South Carolina (concluded)

 

 

 

 

 

 

 

Charleston Educational Excellence
Finance Corp., RB, Charleston County
School (AGC) (concluded):

 

 

 

 

 

 

 

5.25%, 12/01/30

 

$

2,510

 

$

2,476,341

 

 

 

 

 

 

 

 

 

 

 

 

17,178,771

 

Tennessee — 1.9%

 

 

 

 

 

 

 

Shelby County Health Educational &
Housing Facilities Board, Refunding
RB, St. Jude’s Children’s Research
Hospital, 5.00%, 7/01/31

 

 

11,240

 

 

11,014,188

 

Virginia — 9.2%

 

 

 

 

 

 

 

Fairfax County IDA Virginia, Refunding
RB, Health Care, Inova Health System,
Series A, 5.50%, 5/15/35

 

 

6,266

 

 

6,256,651

 

University of Virginia, Refunding RB,
General, 5.00%, 6/01/40

 

 

10,620

 

 

10,729,705

 

Virginia HDA, RB, Sub-Series H-1
(NPFGC), 5.38%, 7/01/36

 

 

30,930

 

 

30,940,207

 

Virginia Small Business Financing
Authority, Refunding RB, Sentara
Healthcare, 5.00%, 11/01/40

 

 

6,075

 

 

5,682,559

 

 

 

 

 

 

 

 

 

 

 

 

53,609,122

 

Washington — 0.9%

 

 

 

 

 

 

 

Central Puget Sound Regional Transit
Authority, RB, Series A (AGM), 5.00%,
11/01/32

 

 

5,384

 

 

5,348,213

 

Wisconsin — 1.8%

 

 

 

 

 

 

 

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

 

 

11,458

 

 

10,542,610

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 40.0%

 

 

 

 

 

233,479,264

 

Total Long-Term Investments
(Cost – $985,490,530) – 162.3%

 

 

 

 

 

947,049,833

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

FFI Institutional Tax-Exempt Fund,
0.15% (h)(i)

 

 

15,886,975

 

 

15,886,975

 

Total Short-Term Securities
(Cost – $15,886,975) – 2.7%

 

 

 

 

 

15,886,975

 

Total Investments
(Cost – $1,001,377,505*) – 165.0%

 

 

 

 

 

962,936,808

 

Liabilities in Excess of Other Assets – (0.5)%

 

 

 

 

 

(2,699,644

)

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (21.4)%

 

 

 

 

 

(125,173,650

)

Preferred Shares, at Redemption Value – (43.1)%

 

 

 

 

 

(251,490,121

)

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

583,573,393

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of January 31, 2011, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

876,280,192

 

 

 

Gross unrealized appreciation

 

$

12,277,285

 

Gross unrealized depreciation

 

 

(50,717,982

)

 

 

Net unrealized depreciation

 

$

(38,440,697

)

 

 

 

 

(a)

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

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

Goldman Sachs & Co.

 

$

4,534,330

 

$

56,488

 

Morgan Stanley & Co.

 

$

6,348,113

 

$

61,353

 

 

 

(b)

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

 

 

(c)

US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

 

(d)

Variable rate security. Rate shown is as of report date.

 

 

(e)

Issuer filed for bankruptcy and/or is in default of interest payments.

 

 

(f)

Non-income producing security.

 

 

(g)

Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

(h)

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


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
April 30,
2010

 

Net
Activity

 

Shares
Held at
January 31,
2011

 

Income

 

FFI Institutional
Tax-Exempt
Fund

 

 

2,366,896

 

 

13,520,079

 

 

15,886,975

 

$

10,926

 

 

 

(i)

Represents the current yield as of report date.


 

 

 

BLACKROCK MUNIYIELD FUND, INC.

JANUARY 31, 2011

7


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniYield Fund, Inc. (MYD)


 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:

 

 

 

•

Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

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

 

 

 

 

•

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

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its semi-annual report.

The following table summarizes the inputs used as of January 31, 2011 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Investments1

 

 

—

 

$

947,049,833

 

 

—

 

$

947,049,833

 

Short-Term Securities

 

$

15,886,975

 

 

—

 

 

—

 

 

15,886,975

 

 

 

Total

 

$

15,886,975

 

$

947,049,833

 

 

—

 

$

962,936,808

 

 

 

 

 

 

 

1

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


 

 

 

8

BLACKROCK MUNIYIELD FUND, INC.

JANUARY 31, 2011

Item 2 –

Controls and Procedures

 

 

2(a) –

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

 

 

2(b) –

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

 

 

Item 3 –

Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

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

 

 

 

BlackRock MuniYield Fund, Inc.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniYield Fund, Inc.
   
  Date: March 25, 2011
   
  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 MuniYield Fund, Inc.
   
  Date: March 25, 2011
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniYield Fund, Inc.
     
  Date: March 25, 2011